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        T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, February 14, 2005, Vol. 8, No. 31

                            Headlines

A U S T R A L I A

AIRPORT RENT-A-CAR: Creditors Should Prove Claim by February 18
BECKDESS PTY: To Convene Final Meeting February 24
BIG POT: Final Meeting Set February 18
GAZOZ PTY: Lays Out Final Meeting Agenda
GRANDINE DEVELOPMENTS: To Declare Final Dividend March 15

HAVEN SECURITY: Members, Creditors to Meet February 23
HEBDEN MINING: Members Resolve to Wind Up Company
HENRY WALKER: Sells Mining Contract Unit
HYPER-DRIVE: Appoints Liquidators for Winding Up Purposes
IDOREACH PTY: To Convene Final Meeting February 21

INSITE INTERNATIONAL: Final Meeting Slated for March 8
IWS MCINNES: To Hear Liquidators' Report on February 24
KB MULTIMEDIA: Gives Creditors Until Feb. 16 to Prove Claims
K&T CONSULTANTS: Lays Out Agenda for Meeting
MATSLOW PTY: To Hold Joint Meeting February 21

PRIMELIFE CORPORATION: Posts General Meeting Results
PRIMELIFE CORPORATION: Aevum Urges Shareholders to Reject Bid
QANTAS AIRWAYS: Bart Doff Sentenced for Insider Trading
QANTAS AIRWAYS: Names Preferred Bidder for QantasLink B717s
SHENZI PTY: Final Meeting Fixed February 18

SKYHOOK DATACOM: To Convene Final Meeting February 18
STAFF WORLD: Members, Creditors to Meet February 18
ULUT PTY: To Hear Liquidator's Report During Meeting
WESTBUS: Government Urged to Take Over Operations
WRIGHT & BRUCE: Final Meeting Set February 19

W. WATERS: To Hear Liquidator's Report March 7
* ASIC Bans Director of Four Failed Corporations


C H I N A  &  H O N G  K O N G

GOLDEN SEA: Court Issues Winding Up Order
INCORPORATED OWNERS: Court Appoints Liquidator
KIEN PING: Receives Winding Up Order from Court
LEE YUEN: Receiving Proofs of Debt Until February 18


I N D O N E S I A

*Labor Unions Unhappy with New President's Poor Performance


J A P A N

ALL NIPPON: Expands Code-share Agreement with Air China
ALL NIPPON: To Code-share with Qatar Airways on New Routes
JAPAN AIRLINES: Applies for 2% Hike on International Fares
MEDCA JAPAN: JCR Downgrades Bond to B, Assigns B+ to LTD
MITSUBISHI FUSO: DaimlerChrysler Takes Additional 20% Stake

SHINKO K.K.: Falls Into Bankruptcy
SOFTBANK CORPORATION: Books Wider Loss


K O R E A

JINRO LIMITED: Dongwon F&B Keen on Takeover


M A L A Y S I A

BOUSTEAD HOLDINGS: No Plans Yet on Listing of BP Unit
GULA PERAK: Lists Additional 5,000 Shares
HONG LEONG: Notes Additional Shares Listing
JIN LIN: Clarifies Details of Unit's Winding-Up Petition
LION CORPORATION: To List More Shares

LION INDUSTRIES: Granted Listing of Additional Shares
MAXIS COMMUNICATIONS: To List Additional Shares Feb. 15
PANTAI HOLDINGS: Discloses Shares Buy Back Notice
POS MALAYSIA: Unveils Employee Share Option Scheme
TRADEWINDS CORPORATION: Agrees to Extend Date of Stock Issuance


P H I L I P P I N E S

BACNOTAN CONSOLIDATED: Furnishes SEC a Copy of Form 23-B
COLLEGE ASSURANCE: Founders To Hand Over Control to Investors
COLLEGE ASSURANCE: Has Further Plans to Increase Capitalization
COLLEGE ASSURANCE: NBI Probes Bouncing Checks Situation
COLLEGE ASSURANCE: Vows Transparency to Gain Planholders' Trust

PHILIPPINE LONG: Independent Director Resigns
PHILIPPINE LONG: Notes Changes in Securities Ownership
PILIPINO TELEPHONE: Exposes Rival's Substandard Service
PILIPINO TELEPHONE: NTC to Review Piltel Raps over Sun Cellular


S I N G A P O R E

BULLION HOLDINGS: Posts Financial Results as of March 31, 2004
CARL SCHENCK: Creditors Should Prove Debt by March 11
KATT PTE: Accepting Proofs of Debt Until March 11
KIN LIN: First Creditors Meeting Set March 4
NG TOH: Issues Notice of Dividend

RAYMITEX TRADING: Lays Out Meeting Agenda
STONEHENGE TELECOM: Posts Notice of Dividend
TAINET TECHNOLOGY: Members to Meet March 11
WAN SOON: Court to Hear Winding Up Petition February 25


T H A I L A N D

EMC: Issues Clarification to SET's Letter
SINO-THAI: Sells SML Shares to Tongkah Harbour
THAI PETROCHEMICAL: Share Allocation Right on Track

     -  -  -  -  -  -  -  -

=================
A U S T R A L I A
=================

AIRPORT RENT-A-CAR: Creditors Should Prove Claim by February 18
---------------------------------------------------------------
Take notice that creditors of Airport Rent-A-Car (NSW) Pty
Limited (In Voluntary Liquidation) A.C.N. 000 290 273, whose
debt or claims have not already been admitted are required on or
before February 18, 2005 to prove their debt or claims and to
establish any title they may have to priority by delivery or
posting to me at my address a formal proof of debt or claim in
accordance with Form 535 or 536 containing their respective
debts or claims. If they do not they will be excluded from:

(a) The benefit of any distribution made before the debts or
claims are proved or their priority is established; and

(b) Objecting to the distribution.

Form of Proof may be obtained from me.

Dated this 10th day of January 2005

Gary Bruce Holbrook
Liquidator
PKF
Level 3, Suite 301, 304-318 Kingsway,
Caringbah NSW 2229


BECKDESS PTY: To Convene Final Meeting February 24
--------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, a General Meeting of Members of Beckdess Pty
Limited (In Liquidation) A.C.N. 001 151 846 will be held at
Level 2, 590 George Street, Sydney, New South Wales on February
24, 2005.

The purpose of the meeting is to lay accounts before it, showing
the manner in which the winding up has been conducted and the
property of the Company has been disposed of, and of hearing any
explanations that may be given by the Liquidator.

Dated this 7th day of January 2005

Ross Phillips
Liquidator


BIG POT: Final Meeting Set February 18
--------------------------------------
Notice is hereby given that pursuant to Section 509(1) of the
Corporations Act, a final meeting of members and creditors of
Big Pot Pty Ltd (In Liquidation) A.C.N. 005 695 161 will be held
in the Boardroom of Andrew Dunner & Associates, Chartered
Accountants, 23 Erin Street, Richmond Victoria on February 18,
2005 at 11:00 a.m.

The purpose of the meeting is to lay accounts before it showing
the manner in which the winding up has been conducted and the
property of the Company has been disposed of and of hearing any
explanation that may be given by the liquidator.

Dated this 17th day of January 2005

A. L. Dunner
Liquidator


GAZOZ PTY: Lays Out Final Meeting Agenda
----------------------------------------
Notice is given that the final meeting of members and creditors
of Gazoz Pty Limited (In Liquidation) A.C.N. 097 699 753 will be
held at Level 1, 32 Martin Place, Sydney, NSW, on Friday,
February 18, 2005 at 10:00 a.m.

AGENDA

(1) To consider the account by the liquidators on the conduct of
the winding up and the disposal of the Company's property.

Proxies to be used at the meeting should be lodged prior to the
commencement of the meeting.

Dated this 10th day of January 2005

Nick Malanos
Joint Liquidator
Gazoz Pty Limited (In Liquidation)


GRANDINE DEVELOPMENTS: To Declare Final Dividend March 15
---------------------------------------------------------
A first and final dividend is to be declared on March 15, 2005
for Grandine Developments Pty Ltd (Subject To Deed Of Company
Arrangement) A.C.N. 094 560 666.

Creditors who were not able to formally prove their debt or
claims will be excluded from the benefit of the dividend.

Dated this 7th day of January 2005

Samuel Richwol
Deed Administrator
O'Keeffe Walton Richwol
Suite 3, 431 Burke Road, Glen Iris


HAVEN SECURITY: Members, Creditors to Meet February 23
------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the Members and Creditors of
Haven Security Services Pty Limited (In Liquidation) A.C.N. 075
269 644 will be held at Ngan & Co, Level 5, 49 Market Street,
Sydney NSW 2000 on Wednesday, February 23, 2005 at 10:30 a.m.

AGENDA

(1) To receive an account made up by the Liquidator showing how
the winding up has been conducted, the property of the Company
has been disposed of and to receive any explanation required
thereof.

(2) To consider any other business brought before the meeting.

Dated this 10th day of January 2005

P. Ngan
Liquidator


HEBDEN MINING: Members Resolve to Wind Up Company
-------------------------------------------------
At a General Meeting of Hebden Mining Pty. Limited A.C.N. 001
490 786, duly convened and held at 14 Enderley Street, Clayfield
Queensland on January 3, 2005 the following Special Resolution
passed:

That the Company be wound up as a Members' Voluntary Liquidation
and that the assets of the Company may be distributed in whole
or in part to the members in specie should the liquidators so
desire.

Dated this 4th day of January 2005

Richard John Wright
60 Brook Street, Musswellbrook


HENRY WALKER: Sells Mining Contract Unit
----------------------------------------
Henry Walker Eltin is putting its mining contract business up
for sale, reports the Australian Financial Review.

The firm's court-appointed administrators decided to divest the
unit after the Company collapsed with total liabilities of
around $570 million.

Voluntary administrator Scott Kershaw of McGrathNicol & Partners
revealed the extent of HWE's financial woes at a creditors'
meeting in Sydney on Tuesday last week, held only hours after
the unexpected resignation of interim chief executive Robert
Cleary and a day after the sudden death of 68-year-old chairman
and Company founder Neville Walker.

Mr. Kershaw said U.S. noteholders were owed about $185 million
and leasing creditors were owed $155 million. Syndicated bank
debt stood at about $30 million.

The Company called in an administrator after Glencore Finance AG
withdrew an AU$100 million recapitalization plan.

CONTACT:

Henry Walker Eltin Group Limited
33 Paul Street North
North Ryde, New South Wales 2113
Australia
Phone: +61 02 9887 6400
Fax: +61 02 9805 0945
Web site: http://www.hwe.com.au/


HYPER-DRIVE: Appoints Liquidators for Winding Up Purposes
---------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Hyper-Drive Technologies Pty Ltd (In Liquidation)
A.C.N. 056 226 941 held on January 6, 2005, it was resolved that
the Company be wound up voluntarily.

At a meeting of creditors held on the same day pursuant to
Section 497, it was resolved that for such purpose, Loke Ching
Wong and William Bernard Abeyratne of Harrisons Insolvency,
Level 1, 49-51 Stead Street, South Melbourne be appointed joint
and several liquidators.

Dated this 6th day of January 2005

Loke Ching Wong
Joint and Several Liquidator
c/- Harrisons Insolvency
Level 1, 49-51 Stead Street,
South Melbourne Victoria 3205
Telephone: 9696 2885


IDOREACH PTY: To Convene Final Meeting February 21
--------------------------------------------------
Notice is hereby given that, pursuant to Section 509 of the
Corporations Act 2001, a joint Annual and Final Meeting of the
Members and Creditors of Idoreach Pty Ltd (In Liquidation)
A.C.N. 006 252 820 will be held at the offices of Knights
Insolvency Administration at Level 4, Anzac House, 4 Collins
Street, Melbourne on February 21, 2005 at 10:30 a.m.

AGENDA

(a) To lay before the meeting a final account of the
Liquidators' acts and dealings and of the conduct of the winding
up.

(b) To consider, and, if thought fit, approve the further
remuneration of the Liquidator in the amount of $7,300 (plus GST
and disbursements).

(c) Any other business which may be lawfully brought forward.

Dated this 7th day of January 2005

Tonia Silvestri
For Adrian Duncan
Liquidator
c/- Knights Insolvency Administration
Level 4, ANZAC House, 4 Collins Street, Melbourne
Vic 3000


INSITE INTERNATIONAL: Final Meeting Slated for March 8
------------------------------------------------------
Notice is hereby given that the final meeting of the creditors
and members Insite International Projects Pty Limited (In
Liquidation) (The Company) A.C.N. 095 832 367 will be held at
the offices of Jones Condon Chartered Accountants, Level 13, 189
Kent Street, Sydney NSW, on March 8, 2005 at 9:30 a.m., for the
purpose of laying before the meeting an account showing how the
winding up has been conducted and the property of the Company
has been disposed and giving any explanation thereof.

Dated this 11th day of January 2005

Michael G. Jones
Liquidator
c/- Jones Condon
Chartered Accountants
Telephone: (02) 9251 5222


IWS MCINNES: To Hear Liquidators' Report on February 24
-------------------------------------------------------
Notice is hereby given pursuant to section 509 of the
Corporations Law, the final meeting of members of IWS Mcinnes
Holdings Pty. Ltd. (In Liquidation) A.C.N. 000 240 068 will be
held at the office of Hudson Shepherd & Partners, Accountants,
of 82 Victoria Street, Grafton NSW on February 24, 2005 at 9:00
a.m. for the purpose of laying before the meeting the
liquidators' final account and report and giving any explanation
thereof.

Dated this 10th day of January 2005

Andrew Harry Hayes
Liquidator
Hudson Shepherd & Partners
82 Victoria Street, Grafton NSW 2460


KB MULTIMEDIA: Gives Creditors Until Feb. 16 to Prove Claims
------------------------------------------------------------
A dividend is to be declared on March 2, 2005 for KB Multimedia
Services Pty Ltd (In Liquidation) A.C.N. 061 067 249.

Creditors whose debt or claims have not already been admitted
are required on or before February 16, 2005 formally to prove
their debt or claims. If they do not, they will be excluded from
the benefit of the dividend.

Dated this 5th day of January 2005

Paul Burness
Liquidator
Worrells
Solvency & Forensic Accountants
Level 5, 15 Queen Street,
Melbourne Vic 3000
Web site: www.worrells.net.au


K&T CONSULTANTS: Lays Out Agenda for Meeting
--------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the Members and Creditors of
K&T Consultants Pty Limited (In Liquidation) A.C.N. 080 018 480
will be held at Ngan & Co, Level 5, 49 Market Street, Sydney NSW
2000 on Wednesday, February 23, 2005 at 11:30 a.m.

AGENDA

(1) To receive an account made up by the Liquidator showing how
the winding up has been conducted, the property of the Company
has been disposed of and to receive any explanation required
thereof.

(2) To consider any other business brought before the meeting.

Dated this 10th day of January 2005

P. Ngan
Liquidator


MATSLOW PTY: To Hold Joint Meeting February 21
----------------------------------------------
Notice is hereby given that a Joint Meeting of Members and
Creditors of Matslow Pty Ltd (In Liquidation) A.C.N. 006 805 509
will be held at the Meeting Room of B. K. Taylor & Co., 9th
Floor, 608 St Kilda Road, Melbourne on February 21, 2005 at
10:00 a.m. for the purpose of laying before the meeting an
account of the Liquidator's acts and dealings and of the conduct
of the winding up.

Members and Creditors are advised that the Liquidator's accounts
of receipts and payments may be inspected at the offices of B.
K. Taylor & Co., 8th Floor, 608 St Kilda Road, Melbourne during
business hours.

Dated this 7th day of January 2005

Paul Vartelas
Liquidator
B. K. Taylor & Co
8/608 St Kilda Road,
Melbourne Vic 3004


PRIMELIFE CORPORATION: Posts General Meeting Results
----------------------------------------------------
Primelife Corporation Limited advised that the resolutions of
the General Meeting held Feb. 10, 2005 were passed as follows:

(1) Ratify the previous issue of 60,000,000 converting notes.
    - Carried

(2) Approve the issue of the maximum number of Shares on
conversion of the Notes for the purposes of Condition 4.4 (a) of
the Note Conditions.
    - Carried

(3) Approve the simplification of Option component of the
remuneration for the Managing Director and Chief Executive
Officer of the Company.
    - Carried

(4) Appoint PricewaterhouseCoopers as auditor of the Company.
    - Carried

Gregor Dixon
Company Secretary

CONTACT:

Primelife Corporation Limited
Melbourne
Victoria, Victoria 3000
Australia
Phone: +61 3 9618 5500
Fax: +61 3 9618 5599
Web site: http://www.primelife.com.au/


PRIMELIFE CORPORATION: Aevum Urges Shareholders to Reject Bid
-------------------------------------------------------------
The Supreme Court of New South Wales on Friday made orders
reinstating the off-market takeover offer by Primelife
Corporation Limited dated January 7, 2005 for shares in Aevum
Limited, which lapsed on February 7, 2005. The bid period has
now been extended to 7:00 p.m. on March 9, 2005.

Primelife must now send a notice informing shareholders about
their right to withdraw previous acceptances of the bid.
Shareholders will have one month to withdraw acceptances from
the date of receipt of the notice.

Primelife's notice to shareholders notes that:

"On February 10, 2005, the closing price of Aevum ordinary
shares traded on the Australian Stock Exchange (ASX) was AU$1.59
and the closing price of Primelife shares was AU$1.21. Based on
these prices, the effective market price of the Primelife shares
offered for an Aevum share under the Offer is AU$1.03."

The Board of Aevum, recommends that any shareholder who has
previously accepted Primelife's offer withdraw their acceptance
as soon as possible after receiving notice from Primelife. The
Board of Aevum continues to recommend that Aevum shareholders
reject Primelife's Offer and take no action in relation to any
other documents received from Primelife.


QANTAS AIRWAYS: Bart Doff Sentenced for Insider Trading
-------------------------------------------------------
Mr. Robert (Bart) Doff was on Friday convicted and sentenced in
the Supreme Court of New South Wales, on one count of insider
trading in the shares of Qantas Airways Ltd (Qantas), following
and investigation by the Australian Securities and Investments
Commission (ASIC).

Mr. Doff, a Sydney real estate agent, was sentenced to 350 hours
community service, fined AU$30,000 and ordered to pay a
pecuniary penalty of AU$37,255.25.

On 19 November 2004, Mr. Doff was found guilty by jury on one
count of insider trading in contravention of the Corporations
Act 2001 (the Act), following a seven day trial before Justice
Barr in the Supreme Court of New South Wales.

ASIC alleged that Mr. Doff contravened the insider trading
provisions of the Act when, on 24 April 2001, he purchased
20,000 Qantas shares. The shares were purchased in the name of
Jetoten Pty Ltd, a Company of which Mr. Doff is the sole
director. The shares were subsequently sold on 1 May 2001,
following an announcement by Qantas. Mr. Doff made a net profit
of AU$11,440.71.

The charge followed an investigation by ASIC into the
circumstances surrounding trading in Qantas shares shortly
before Qantas announced that it would take over the operations
of Impulse Airlines.

The matter was prosecuted by the Commonwealth Director of Public
Prosecutions.

CONTACT:

Qantas Airways
Qantas Centre, Level 9,
Building A, 203 Coward Street,
Mascot, NSW, Australia, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339
Web site: http://www.qantas.com


QANTAS AIRWAYS: Names Preferred Bidder for QantasLink B717s
-----------------------------------------------------------
Qantas Airways said that Adelaide-based National Jet Systems had
been selected as the preferred bidder to operate and maintain
QantasLink's new Boeing 717 regional flying operations.

The Chief Executive Officer of Qantas, Geoff Dixon, said
QantasLink announced in October last year that it would
progressively replace its fleet of BAe146 aircraft with newer
Boeing 717 aircraft from July 2005.

The Boeing 717 aircraft will move from Jestar to QantasLink as
Jestar continues to grow its fleet of new Airbus A320s.

Mr. Dixon said the bidding process had been very competitive,
with proposals submitted by National Jet Systems, which
currently operates QantasLink's BAe146 fleet, and Jetstar, which
currently operates the Boeing 717 fleet.

"In the end the strength of the relationship and the fact that a
decision against National Jet Systems could have resulted in
significant job losses in several States were the deciding
factors," Mr. Dixon said.

"National Jet Systems is a highly respected provider of aviation
services to Australian corporate and government organizations.

"They have provided aircraft, pilots and cabin crew to the
Qantas Group for fourteen years and we look forward to
continuing this excellent partnership."

Mr. Dixon said confirmation of the selection of National Jet
Systems was subject to satisfactory negotiation of the operating
agreement.

"The Boeing 717s will allow QantasLink to increase capacity on a
range of routes in Western Australia, the Northern Territory and
Queensland," Mr. Dixon said.

Eight Boeing 717s, operating in a 115 seat configuration with a
32 inch seat pitch, will gradually replace eight 65 to 76 seat
BAe146s in the QantasLink fleet over the 12 months beginning
July 2005.

QantasLink will continue to fly its remaining two BAe146
aircraft, which are leased until December 2006.


SHENZI PTY: Final Meeting Fixed February 18
-------------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act, the final meeting of members and creditors of
Shenzi Pty Ltd (In Liquidation) A.C.N. 003 037 938 will be held
at 55 Berry Street, Wagga Wagga NSW 2650, on February 18, 2005
at 2:00 p.m., for the purpose of laying before the meetings the
liquidator's final accounts and reports and give an explanation
thereof.

Dated this 18th day of January 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
55 Berry Street,
Wagga Wagga NSW 2650
Telephone: (02) 6921 9055
Facsimile: (02) 6921 9032


SKYHOOK DATACOM: To Convene Final Meeting February 18
-----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, a final meeting of Skyhook Datacom Systems
Australia Pty Ltd (In Liquidation) A.B.N. 79 092 481 055 will be
held in the Boardroom of Andrew Dunner & Associates, Chartered
Accountants, 23 Erin Street, Richmond on February 18, 2005 at
11:30 a.m.

The purpose of the meeting is to lay accounts before it showing
the manner in which the winding up has been conducted and the
property of the Company has been disposed of and of hearing any
explanation that may be given by the liquidator.

Dated this 17th day of January 2005

A. L. Dunner
Liquidator


STAFF WORLD: Members, Creditors to Meet February 18
---------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a joint meeting of members and creditors of Staff
World Pty Ltd (In Liquidation) A.C.N. 105 314 949 be held at the
offices of D'Aloia Handberg, Chartered Accountants, Level 10,
200 Queen Street, Melbourne, on February 18, 2005 at 10:00 a.m.
for the purpose of having an account laid before them showing
the manner in which the winding up has been conducted and the
property of the Company disposed of and of hearing any
explanations that may be given by the Liquidator.

Dated this 5th day of January 2005

A. D'Aloia
Liquidator
D'Aloia Handberg
Chartered Accountants
Level 10, 200 Queen Street,
Melbourne Vic 3000


ULUT PTY: To Hear Liquidator's Report During Meeting
----------------------------------------------------
Notice is hereby given that pursuant to Section 509(2) of the
Corporations Act a general meeting of Members of Ulut Pty Ltd
(In Liquidation) A.C.N. 003 214 453 will be held at the offices
of Arthur Yip & Associates, Suite 140, Level 3, Regis Towers,
418 Pitt Street, Sydney NSW 2000 on February 22, 2005 at 10:00
a.m. for the purpose of laying before the meeting the
liquidators' final accounts showing the manner in which the
winding up has been conducted and the property disposed of, and
giving any explanation thereof.

Dated this 11th day of January 2005

Arthur Yip
Liquidator


WESTBUS: Government Urged to Take Over Operations
-------------------------------------------------
Greens convenor Debbie Robertson has urged Transport Minister
John Watkins to take over the running of failed Westbus, a move
Mr. Watkin rejected, according to the Blacktown Advocate.

Ms. Robertson insisted on a government takeover on Westbus,
saying "bus services were too important to be left to the
private sector". She added that it's about time for the people
of western Sydney to enjoy superior government-provided services
at a lesser cost.

"Private companies were about making money, whereas the
government should be about providing services," Ms. Robertson
stressed.

She further said that Westbus' voluntary administration could
provide an opportunity for the government to improve public
transport bus services in western Sydney.

Westbus has gone into voluntary administration after it failed
to renegotiate a loan with its major financier, National Bus
Company.

The directors of transport firm Bosnjak Holding Pty Limited,
trading as Westbus and Blue Ribbon Buses, have appointed Peter
Yates and David Lombe of Deloitte as voluntary administrators.

Westbus, which has 800 employees and runs a fleet of 520 buses,
is suffering from debts of AU$90 million (US$69.7 million), but
is considered by its administrators to be in a favorable cash
flow position with substantial assets.

CONTACT:

Westbus Pty Ltd
Level 12, 100 George Street
Parramatta, NSW 2150
Web site: http://www.westbus.com.au


WRIGHT & BRUCE: Final Meeting Set February 19
---------------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act, the final meeting of members of Wright & Bruce
(Qld) Pty Limited (In Liquidation) (Members' Voluntary Winding
Up) A.B.N. 38 000 084 953 will be held at the offices of Edney
Ryan Chartered Accountants, 706 Military Road, Mosman NSW 2088,
on February 19, 2005 at 9:00 a.m. for the purpose of laying
before the meeting the liquidators' final account and report and
giving any explanation thereof.

Dated this 11th day of January 2005

Carolyn Griffin
Liquidator
Edney Ryan
Chartered Accountants
706 Military Road, Mosman NSW 2000


W. WATERS: To Hear Liquidator's Report March 7
----------------------------------------------
Notice is given that the final meeting of the members of W.
Waters & Sons Pty Limited (In Liquidation) A.C.N. 000 032 299
will be held at the offices of Gavin Thomas & Partners, Level 9,
31 Market Street, Sydney on March 7, 2005 at 10:00 a.m. to
receive the Liquidator's final account showing how the winding
up has been conducted and the property of the Company has been
disposed of.

Mark Roufeil
Liquidator


* ASIC Bans Director of Four Failed Corporations
------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
banned Mr. Theodore Kirsh, of Caulfield North, Victoria, from
managing corporations for 18 months after four companies he was
involved in were wound up.

Mr. Kirsh was a director of Sunrise (Vic) Pty Ltd, Palmerston
Street Developments Pty Ltd, O'Connell Street Developments Pty
Ltd and Poly-Flex Marketing Pty Ltd, each of which became
insolvent.

Mr. Kirsh's banning followed an ASIC investigation into reports
by liquidators about the four failed companies, including that
Mr. Kirsh failed to deliver Company books and records to the
liquidator and failed to assist the liquidator during the course
of the liquidation.

ASIC is able to ban a Company director if they are the director
of two or more failed companies that are wound up, and the
liquidator reports to ASIC that they have failed to pay their
creditors more than 50 cents in the dollar.

Mr. Kirsh has the right to appeal to the Administrative Appeals
Tribunal for a review of ASIC's decision.


==============================
C H I N A  &  H O N G  K O N G
==============================

GOLDEN SEA: Court Issues Winding Up Order
-----------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court of First Instance issued a notice of winding up order for
Golden Sea Harbour Restaurant Limited on January 26, 2005.

The winding up petition was presented December 6, 2005.

Dated this 4th day of February 2005
ET O'Connell
Official Receiver


INCORPORATED OWNERS: Court Appoints Liquidator
----------------------------------------------
By order of the High Court of the Hong Kong Special
Administrative Region Court of First Instance dated the 11th day
of January 2005, Messrs. Kenny King Ching Tam and Mat Ng of
Kenny Tam & Co., Certified Public Accountants at 17/F., Chun Wo
Commercial Centre, 23 Wing Wo Street, Central, Hong Kong, have
been appointed Joint and Several Liquidators of The Incorporated
Owners Of Albert House (also known as The Owners Incorporation
Of Albert House) without a committee of inspection.

Dated this 4th day of February, 2005

Kenny King Ching Tam
Joint and Several Liquidator


KIEN PING: Receives Winding Up Order from Court
-----------------------------------------------
Kien Ping Trading (Hong Kong) Limited Of Flat 1301, 13/F Henan
Bldg, 90-92 Jaffe Rd, Wanchai, HK received a winding up order on
January 26, 2005 from the High Court of the Hong Kong Special
Administrative Region Court of First Instance.

The winding up petition was presented December 6.


LEE YUEN: Receiving Proofs of Debt Until February 18
----------------------------------------------------
Notice is hereby given that a preferential payment and a
dividend are intended to be declared in Kong Siu Kin Trading As
Lee Yuen Lands Building Development Company. Preferential
creditors and creditors who have not proved their debts by
February 18, 2005 will be excluded from these dividend.

Dated this 4th day of February 2005

ET O'Connell
Official Receiver & Trustee


=================
I N D O N E S I A
=================

*Labor Unions Unhappy with New President's Poor Performance
-----------------------------------------------------------
A group comprised of 52 trade unions said they were disappointed
with what it said was the poor performance of President Susilo
Bambang Yudhoyono in his first 100 days in office, the Jakarta
Post reports.

The trade unions, grouped in the Indonesian Labor Unions
Communications Forum, said that President Susilo and his Vice
President Jusuf Kalla lied to the public as seen in their
failure to deliver on their campaign promises.

During a hearing with the House of Representatives' labor and
social affairs commission, Forum chairman Eggy Sudjana said that
the Susilo-Kalla administration had done nothing significant to
address the various problems of Indonesian workers.

"Despite the ratification of the ILO Convention on labor
protection, the government has ignored massive redundancies in
numerous companies, the underpayment of workers in labor-
intensive industries, the rampant violation of the law on
freedom of association, and the sale of government shares in PT
Dirgantara Indonesia, PT Indosat and PT Semen Gresik," he said,
referring to a state-owned aerospace firm, telecommunications
firm, and cement producer respectively.

Mr. Eggy said the government has not created jobs nor provided
legal protection for Indonesians working overseas, and has not
been addressing the problem of abuse of Indonesian workers in
Malaysia.

Meanwhile, Dita Indah Sari, chairperson of the Indonesian
Workers National Front (FNBI), said that state-owned pension
fund PT Jamsostek was still being used as "a cash cow" to
support influential state officials and well-connected
businesspeople. She urged the government to appoint professional
managers to run the Company. Otherwise, workers who were paying
a lot to participate in the Company's social security programs
would go on strike.

According to Jamostek Trade Union chairman Lakoni Brama, Company
workers would not oppose the government if it decided to replace
the Company's current management, as long as the new managers
were competent, possessed a comprehensive understanding of
social security matters, and were committed to improving the
welfare of workers. But they would oppose any serious
intervention by the government into the Company's internal
affairs, saying that it's not healthy to change Company
management every time they get a new government.

Legislators, including those from the Democrat Party supporting
the government, said they stood by the labor unions and would
relate their complaints to the manpower and transmigration
minister.


=========
J A P A N
=========

ALL NIPPON: Expands Code-share Agreement with Air China
-------------------------------------------------------
All Nippon Airways (ANA) and Air China will extend their code-
sharing agreement to all flights between Japan and China from
March 27 this year, in a move that will increase the present 103
flights to 188 flights operated under both airline codes.

The 85 new code-share flights will bring the Air China
destinations of Chengdu and Chongqing into the ANA international
network, and the ANA destinations of Guangzhou, Shenyang,
Qingdao, Xiamen into the Air China international network. This
major increase in the number of international destinations will
allow both carriers to offer customers even more choice and
greater convenience than at present. Of the 188 total flights,
95 will be operated by ANA, 93 by Air China.

ANA and Air China at present already code-share on flights
operated by both airlines from Tokyo Narita and Osaka Kansai to
Beijing and Shanghai Pudong, and on ANA operated flights from
Tokyo Narita and Osaka Kansai to Hangzhou. In addition to Tokyo
and Osaka, Flights from Nagoya (Central Japan International
Airport (Centrair)) to Beijing, Shanghai and Chongqing via
Shanghai will also be covered by the agreement for the first
time.

ANA and Air China started code-sharing operations on March 28,
2004. At the same time they entered an agreement for reciprocal
Frequent Flyer Programme recognition, allowing members of the
ANA Mileage Club and Air China's Companion Frequent Flyer
Programme to accrue and redeem mileage across each other's
networks, including code-share flights.

CONTACT:

All Nippon Airways Co Ltd
5-10 Hanedakuko 3-Chome
Ohta-Ku 144-0041, Tokyo 100-6027
Japan
Phone: +81 3 5756 5665
Fax: +81 3 5756 5679
Web site: http://www.ana.co.jp/eng/index.html


ALL NIPPON: To Code-share with Qatar Airways on New Routes
----------------------------------------------------------
All Nippon Airways (All Nippon Airways) and Qatar Airways will
expand their partnership from the start of the summer schedule,
2005.

ANA will place its two letter code, NH, on Qatar Airways'
operated four weekly flights between the Qatari capital, Doha,
and Japan's commercial center, Osaka (Kansai) from March 31, the
day of the inauguration of the new service linking the two
cities. The service not only covers passenger traffic, but also
cargo and mail services. This will mark the first time Qatar
Airways flies directly to Japan.

The expanded arrangements also include more code-share flights
on the Bangkok-Doha route. Since February 1, the two airlines
have been code-sharing on three of seven weekly flights operated
by Qatar Airways between Bangkok and Doha. From March 27, this
will increase to a daily code-share service.

In another first, Qatar Airways will also place its QR flight
code on ANA operated domestic flights within Japan, between
Osaka Kansai and Tokyo Haneda, Fukuoka and Sapporo. The domestic
code-share flights will come into operation on April 1.

"This is the latest development in ties between ANA and Qatar
Airways, which began with a reciprocal Frequent Flyer Programme
agreement on December 1 last year," said Katsuhiko Kitabayashi,
ANA's Senior Vice President Alliances. "With direct code-share
flights to Doha from Osaka linking in to the ANA domestic
network, we are bringing the dynamic and growing state of Qatar
nearer to Japan, making life easier for customers who can now
travel under the flight code which is most familiar to them."

Qatar Airways Chief Executive Officer Akbar Al Baker added:
"This code-share is a significant development for Qatar Airways
as we prepare to launch dedicated non-stop flights between Doha
and Osaka." We are extremely pleased to be working with Japan's
premier airline to help boost traffic between our two countries
and look forward to developing our partnership over time."

About Qatar Airways

Qatar Airways is one of the fastest growing airlines operating
one of the youngest fleets in the world with an average age of
under three years old. Formed in 1994 and relaunched in 1997,
Qatar Airways operates to 59 destinations worldwide with a fleet
of 40 modern all-Airbus aircraft from its operational hub in
Doha, capital of the State of Qatar in the Arabian Gulf. Its
global network covers Europe, Middle East, Africa, Indian
subcontinent and the Far East. By the end of 2005, the airline
plans to serve at least 70 destinations worldwide. Qatar Airways
is one of only three airlines to be awarded the prestigious Five
Star ranking by Skytrax for high levels of service and
excellence. Skytrax is the independent aviation industry
monitoring agency.

About ANA

ANA came into existence in 1952, and over 50 years later is now
one of the 10 largest airlines in the world, carrying with its
sister companies almost 50 million passengers every year to 49
destinations in Japan, and to 22 overseas cities in Asia,
Europe, the United States and the Pacific. As a member of Star
Alliance, the world's foremost airline alliance, ANA passengers
enjoy access to a network of over 770 airport destinations in
133 countries, and reciprocal benefits such as mileage accrual
and redemption, and lounge access.


JAPAN AIRLINES: Applies for 2% Hike on International Fares
----------------------------------------------------------
Japan Airlines (JAL) filed an application on Feb. 10 with the
Ministry of Land, Infrastructure, and Transport for approval to
revise international fares to and from Japan, effective April
1st, 2005.

The application follows an agreement by the members of the
International Air Transport Association (IATA), the worldwide
airline industry organization.

Fares between Japan and South East Asia, China, and Micronesia,
were excluded from the application this time. They will be
subject to a later filing.

If the filing is implemented, normal First, Business and Economy
fares on routes departing from Japan will increase by 2%. The
exceptions will be fares to Central and South America where the
range of increase will vary from 2% to 8% according to fare
category.

The proposed increase is subject to government approval.

CONTACT:

Japan Airlines Corporation
4-11, Higashi-shinagawa 2-chome, Shinagawa-ku
Tokyo, 140-8605, Japan
Phone: +81-3-5769-6097
Fax: +81-3-5460-5929
Web site: http://www.jal.co.jp


MEDCA JAPAN: JCR Downgrades Bond to B, Assigns B+ to LTD
--------------------------------------------------------
The Japan Credit Rating Agency Limited (JCR) has downgraded the
ratings on the bonds of Medca Japan Co., Ltd. issuer from BB- to
B+. It has assigned a B+ rating anew to the long-term debts of
the issuer.


Issues        Amount(bln)  Issue Date     Due Date      Coupon
convertible
bonds no.1    JPY4.5       May 7, 1996    May 31, 2005  0.75%
convertible
bonds no.2    JPY6         Sept. 25, 1997 Nov. 30, 2006 1.60%

Rationale:

Medca Japan has been grouping medical and social welfare
corporations. The financial support to these facilities sharply
lowered Medca Japan's financial stability. Aggressive
investments in nursing care and welfare businesses and increase
in the number of consolidated subsidiaries increased the
interest-bearing debt largely.

The earnings of Medca Japan has been on the rise thanks to
growth of these nursing care and welfare businesses. However,
JCR is concerned about delay in capital contribution from the
business partner to the newly spun-off clinical testing
business. Redemption of the bonds is scheduled intensively for
2005 through 2006. Fundraising in the future should be carefully
examined.

CONTACT:

Medca Japan Co., Ltd
3-673 Tenjin, Konosu,
Saitama, Japan
Phone: 0081(0)48-542-3171
Web site: http://www.medcajapan.co.jp


MITSUBISHI FUSO: DaimlerChrysler Takes Additional 20% Stake
-----------------------------------------------------------
German-American automaker DaimlerChrysler AG has taken another
20 percent stake in struggling Mitsubishi Fuso Truck & Bus
Corporation, reports Dow Jones Newswires.

The move has increased the foreign vehicle giant's stake in Fuso
from 65 to 85 percent. The remaining 15 percent will be held by
Mitsubishi Motors Corporation.

Meanwhile, DaimlerChrysler AG Chief Executive Officer Juergen
Schrempp said last week the German automaker has no plans to
sell its shares in Mitsubishi Motors Corp.

During a press conference, Mr. Schrempp said DaimlerChrysler is
willing to continue joint business projects with the Japanese
automaker, and for that purpose DaimlerChrysler needs to
maintain its equity stake.

CONTACT:

Mitsubishi Fuso Truck and Bus Corporation
2-16-4, Kounan,
Minato-ku,Tokyo 108-8285,
Phone: +81-3-6719-4821
Fax: +81-3-6719-0111
Web site: http://www.mitsubishi-fuso.com


Shinko K.K.: Falls Into Bankruptcy
----------------------------------
Golf course operator Shinko K.K. has entered bankruptcy,
according to Teikoku Databank America.

The firm, based in Osaka-shi, Osaka 540-0034, left total
liabilities of US$2,341.9 million.

For more information visit http://www.teikoku.com/or contact
office@teikoku.com or +1-212-421-9805.


SOFTBANK CORPORATION: Books Wider Loss
--------------------------------------
Softbank Corporation has posted a larger loss in the quarter
ended Dec. 31 due to heavy advertising and other promotional
costs, the Associated Press relates.

The telecommunications firm tallied a group net loss of JPY26.56
billion (US$250.5 million), worse than the previous year's
JPY16.34 billion loss.

Sales for the October-December period climbed 89 percent to
JPY258 billion (US$2.4 billion), from JPY137 billion in the same
period a year earlier.

Softbank has recovered from a business slump and has risen to
the top ranks of Japan's telecom industry with a series of
recent acquisitions.

Last year, it acquired the fixed-line telephone Company Japan
Telecom Co., helping boost its sales for the quarter. It also is
set to complete the purchase the Japan unit of British telecom
Company Cable & Wireless PLC later this year.

Softbank, which invests in Internet companies such as Yahoo
Inc., returned to profitability in the July-September quarter,
boosted by growth in its flagship broadband Internet business.

However, it has been recently spending heavily to promote Japan
Telecom's new fixed-line services, which will compete directly
against Japanese telecommunications giant Nippon Telegraph and
Telephone Corp. with cheaper prices.

For the nine months through December, Softbank reported a group
net loss of JPY32.61 billion (US$308 million), better than the
JPY93.68 billion loss in the same period a year earlier.

The Company didn't give full-year earnings forecasts. But
Softbank President Masayoshi Son said the Company expects to
post a group operating profit in the next fiscal year ending
March 2006.

CONTACT:

Softbank Corporation
24-1, Nihonbashi-Hakozakicho,
Chuo-ku, Tokyo 103-8501, JAPAN
Phone: 81-3-5642-8000
Web site: http://www.softbank.co.jp/english/index.html


=========
K O R E A
=========

JINRO LIMITED: Dongwon F&B Keen on Takeover
-------------------------------------------
The food-manufacturing unit of the Dongwon Group is planning to
join a consortium to take over liquor maker Jinro Limited, Asia
Pulse says.

Dongwon F&B Company is interested in joining the tender for
Jinro, which is now up for sale in line with a court approval in
April. The Company has been in court receivership since May
2003.

Dongwon F&B said it is currently reviewing a plan to bid for
Jinro. It added it will take part in the tender if Dongwon
Enterprise forms a consortium to acquire the soju maker.

Late last month, Jinro said it will receive letters of intent
from prospective buyers until today. Final bids should be
submitted by March 30 after a due-diligence to be conducted
between Feb. 17 and March 29. Jinro hopes to pick a prime bidder
and conclude a deal by July.

About 10 companies are said to be interested in bidding for
Jinro, the highest-value South Korean Company scheduled to be
sold this year.

CONTACT:

Jinro Limited
1448-3 Seocho-dong Seocho-gu
Jinro Bldg
Seoul, SEOUL 137-866
KOREA (SOUTH)
Telephone: +82 2 520 3114; +82 2 520 3453
Web site: http://www.jinro.co.kr/


===============
M A L A Y S I A
===============

BOUSTEAD HOLDINGS: No Plans Yet on Listing of BP Unit
-----------------------------------------------------
Boustead Holdings Berhad refers to a query dated Feb. 7, 2005 in
relation to an article which appeared in the Edge, page 8 on
Monday, Feb. 7, 2005, in particular to the following statement:

"It is understood that LTAT will later transfer its 30% in BP
Malaysia to Boustead Mint. It will then be listed.".

The Company announces that there is no plan to acquire the
remaining 30% interest in BP Malaysia Sdn Bhd currently held by
Lembaga Tabung Angkatan Tentera (LTAT).

LTAT had earlier given an undertaking not to accept an offer for
the remaining 30% interest in BP Malaysia, if made by Boustead
Mint pursuant to the proposed acquisition of the 70% equity
interest in BP Malaysia.

As the Proposed Acquisition is still in its early stage, there
are no plans or decisions by the Board of Boustead as yet on the
listing of BP Malaysia.

Query Letter content :

We refer to the above article appearing in The Edge, page 8 on
Monday, Feb. 7, 2005, a copy of which is enclosed for your
reference.

In particular, we would like to draw your attention to the
underlined sentences, which are reproduced as follows:

"It is understood that LTAT will later transfer its 30% in BP
Malaysia to Boustead Mint. "It will then be listed ..........".

In accordance with Bursa Malaysia Securities Berhad's (Bursa
Securities) Corporate Disclosure Policy, you are requested to
furnish Bursa Securities with an announcement for public release
confirming or denying the above reported article and in
particular the underlined sentences after due and diligent
enquiry with all the directors, major shareholders and all such
other persons reasonably familiar with the matters about which
the disclosure is to be made in this respect. In the event you
deny the above sentences or any other part of the above article,
you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the
above sentences or any other part of the above article, you are
required to set forth facts sufficient to support the same.

Please furnish Bursa Securities with your reply within one (1)
market day from the date hereof.

Yours faithfully

INDERJIT SINGH
Sector Head
Issues & Listing
Group Regulations
KHB/

CONTACT:

Boustead Holdings Berhad
18th Floor, Menara Boustead,
69 Jalan Raja Chulan,
50200 Kuala Lumpur
Malaysia
Phone: 03-2141 9044
Fax:   03-21430075
Web site: http://www.boustead.com.my


GULA PERAK: Lists Additional 5,000 Shares
-----------------------------------------
Gula Perak Berhad's additional 5,000 new ordinary shares of
RM1.00 each issued pursuant to the Conversion of 5,000
irredeemable convertible secured loan stocks 2000/2005 into
5,000 new ordinary shares will be granted listing and quotation
effective Tuesday, Feb. 15, 2005, 9:00 a.m.

CONTACT:

Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Malaysia
Phone: 03-4044 2828
Fax:   03-4044 6688


HONG LEONG: Notes Additional Shares Listing
-------------------------------------------
Hong Leong Industries Berhad's additional 441,000 new ordinary
shares of RM0.50 each arising from the Conversion of RM2,734,200
nominal value of 4% 5-year irredeemable convertible unsecured
loan stocks 2002/2007 will be granted listing and quotation
effective Tuesday, Feb. 15, 2005, 9:00 a.m.

CONTACT:

Hong Leong Industries Berhad
Level 9, Wisma Hong Leong
18, Jalan Perak
50450 Kuala Lumpur
Malaysia
Phone: 03-2164 2631
Fax:   03-2164 2514
Web site: http://www.hongleong.com


JIN LIN: Clarifies Details of Unit's Winding-Up Petition
--------------------------------------------------------
In response to Bursa Malaysia Berhad's letter dated Feb. 7, 2005
with regard to the Company announcement dated Feb. 4, 2005 on
the winding up petition on Company subsidiary Jin Lin Trading
Sdn Bhd (JLT) by Alwayield Sdn Bhd, Jin Lin Wood Industries
Berhad (JLWIB) announces the following:

Currently the JLWIB Group has been granted a further extension
of Restraining Order (RO) pursuant to Section 176 of the
Companies Act 1965 on Jan. 4, 2005 for a further period of 120
days until March 28, 2005. The RO obtained, unless set aside by
a Court Order, will restrain Alwayield Sdn Bhd from prosecuting
the winding-up Petition further up till the expiry of the RO on
28 March 2005 or such further extensions of time granted by the
High Court.

The winding up petition was presented and received by JLT on
Jan. 31, 2005. The total cost of investment by JLWIB on JLT
amounts to RM20,540,450.00.

Alwayield Sdn Bhd (Alwayield) is a trade creditor of JLT who has
supplied timber to JLT on credit terms. On Dec. 2, 2004, JLT was
served with a notice pursuant to Section 218 of the Companies
Act, 1965 claiming the sum of RM2,013,484.75 being the
outstanding amount owing to Alwayield as at Nov. 30, 2004. On
Jan. 31, 2005, JLT was served with a winding-up petition via
Sabah and Sarawak High Court Petition No. 28-1-2005. The
Petition is fixed for hearing on July 15, 2005.

There are neither operational nor financial impacts nor expected
losses from the winding-up petition between Alwayield and JLT as
the claimed amount - RM 2,013,484.75, has been provided for in
the accounts of the Company.

JLWIB is currently conducting a Proposed Restructuring (PRS)
exercise to resolve the financial matters of the Group and as
announced on June 30, 2004, the PRS has been submitted to the
Securities Commission (SC) and SC on behalf of the Foreign
Investment Committee for consideration and approval.

At the present time, JLWIB and JLT has approached their lawyers
for consultation and legal advice on this matter and at the same
time the Management is in further discussions with the Plaintiff
to resolve this matter.

This announcement is dated Feb. 8, 2005.

Query Letter content:
We refer to the your Company's announcement dated Feb. 4, 2005
in respect of the aforesaid matter.

In this connection, kindly furnish the Securities Exchange
immediately with the following information for public release:

1. The date of presentation of the petition.
2. The total cost of investment in JLT by Jin Lin Wood
Industries Berhad.
3. The details of the default or circumstances leading to the
filing of the winding-up petition.
4. The operational and financial impact on the Group, if any,
arising from the aforesaid petition.
5. The expected losses, if any, arising from the aforesaid
petition.
6. The steps that your Company/JLT has taken and will take with
regards to the winding-up petition.

Please note that the contents of the announcement must be
endorsed by the board of directors of the Company.

Yours faithfully

TAN YEW ENG
Sector Head
Issues & Listing
Group Regulations
NMA

CONTACT:

Jin Lin Wood Industries Berhad
177, 2nd Floorn
Taman Sri Dagang
P O Box 3181
97013 Bintulu, Sarawak
Malaysia
Phone: 086-334661/335570
Fax:   086-330866/334808


LION CORPORATION: To List More Shares
-------------------------------------
Lion Corporation Berhad's additional 168,000 new ordinary shares
of RM1.00 each issued pursuant to the Executive Share Option
Scheme will be granted listing and quotation effective Tuesday,
Feb. 15, 2005, 9:00 a.m.

CONTACT:

Lion Corporation Berhad
Level 46, Menara Citibank
165, Jalan Ampang
50450 Kuala Lumpur
Malaysia
Phone: 03-21622155
Fax:   03-21623448
Web site: http://www.lion.com.my


LION INDUSTRIES: Granted Listing of Additional Shares
-----------------------------------------------------
Lion Industries Corporation Berhad's additional 100,000 new
ordinary shares of RM1.00 each issued pursuant to the Executive
Share Option Scheme will be granted listing and quotation
effective Tuesday, Feb. 15, 2005, 9:00 a.m.

CONTACT:

Lion Industries Corporation Berhad
Level 46, Menara Citibank
165, Jalan Ampang
50450 Kuala Lumpur
Phone: 03-21622155
Fax:   03-21623448
Web site: http://www.lion.com.my


MAXIS COMMUNICATIONS: To List Additional Shares Feb. 15
-------------------------------------------------------
Maxis Communications Berhad's additional 123,000 new ordinary
shares of RM0.10 each issued pursuant to the Employee Share
Option Scheme will be granted listing and quotation effective
Tuesday, Feb. 15, 2005, 9:00 a.m.

CONTACT:

Maxis Communications Bhd
Level 18, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
Malaysia
Phone: 03-23307000
Fax:   03-2330059


PANTAI HOLDINGS: Discloses Shares Buy Back Notice
-------------------------------------------------
Pantai Holdings Berhad disclosed to the Bursa Malaysia
Securities Berhad details of its shares buy back on Feb. 8,
2005.

Date of buy back: 08/02/2005

Description of shares purchased: Ordinary shares of RM1.00 each

Total number of shares purchased (units): 58,500

Minimum price paid for each share purchased (RM): 0.925

Maximum price paid for each share purchased (RM): 0.970

Total consideration paid (RM): 56,091.33

Number of shares purchased retained in treasury (units): 58,500

Number of shares purchased which are proposed to be cancelled
(units):

Cumulative net outstanding treasury shares as at to-date
(units): 27,167,300

Adjusted issued capital after cancellation
(no. of shares) (units):

CONTACT:

Pantai Holdings Berhad
3rd Floor, Block B
Pantai Medical Centre
No. 8 Jalan Bukit Pantai
59100 Kuala Lumpur
Malaysia
Phone: 03-22879822
Fax:   03-22873822
Web site: http://www.pantai.com.my/


POS MALAYSIA: Unveils Employee Share Option Scheme
--------------------------------------------------
Pos Malaysia & Services Holdings Berhad 's additional 67,000 new
ordinary shares of RM1.00 each issued pursuant to the Employee
Share Option Scheme will be granted listing and quotation
effective Tuesday, Feb. 15, 2005, 9:00 a.m.

CONTACT:

Pos Malaysia & Services Holdings Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Phone: +60 3 2166 2323
Fax:   +60 3 2166 2266


TRADEWINDS CORPORATION: Agrees to Extend Date of Stock Issuance
---------------------------------------------------------------
Unless otherwise re-defined in this announcement, the
definitions in Tradewinds Corporation's circular to shareholders
dated June 14, 2004 would apply throughout this announcement.
The Company refers to its announcements dated May 13, 2003, July
3, 2003, Aug. 22, 2003, Oct. 26, 2004 and Jan. 10, 2005.

Tradewinds Corporation Berhad (TCB) announces that the Company
exchanged letters on Feb. 8, 2005 with Pakhruddin bin Sulaiman,
Ahmad Zaed bin Saleh Hamdi, Kelana Ventures Sdn Bhd (KVSB) and
Ambang Budi Sdn Bhd (ABSB) to mutually extend the date of
issuance of the aggregate RM483,000,000 irredeemable convertible
unsecured loan stocks (ICULS) to Feb. 8, 2005.

Save for the extension of the ICULS issuance date, all the other
terms and conditions in the respective agreements governing the
Acquisition of ABSB, Acquisition of Tebrau Land and Acquisition
of Sedili Land remain unchanged.

Accordingly, on even date an aggregate of RM483,000,000 ICULS
was issued in relation to the following:

(i) RM149,207,496 and RM18,792,504 in satisfaction of the
purchase consideration and the compensation amount respectively
for the Acquisition of ABSB after taking into consideration the
following:

(a) letter from Messrs. PricewaterhouseCoopers dated Jan. 7,
2005 certifying the adjusted NTA of ABSB as at Oct. 31, 2004
(being the last day of the month immediately preceding the
fulfillment of the conditions precedent);

(b) letter from Aseambankers (being the appointed merchant
banker) dated Jan. 13, 2005 determining the compensation amount
and the ICULS to be issued in satisfaction thereof; and

(c) maximum number of ICULS that may be issued to satisfy
purchase consideration and compensation amount pursuant to the
Acquisition of ABSB shall not exceed an aggregate of
RM168,000,000 ICULS;

(ii) RM210,000,000 ICULS in satisfaction of the purchase
consideration of RM210,000,000 pursuant to the Acquisition of
Tebrau Land; and

(iii) RM105,000,000 ICULS in satisfaction of the purchase
consideration of RM105,000,000 pursuant to the Acquisition of
Sedili Land.

The salient terms of the aggregate of RM483,000,000 ICULS are as
follows:

Issue Size:             RM483,000,000 ICULS

Form and Denomination: RM483,000,000 ICULS will be issued in
registered form and in multiples of RM1.00 nominal value each

Issue Price: At 100% of the nominal value of RM483,000,000 ICULS

Tenure: RM483,000,000 ICULS shall be for a period of 7 years
from Feb. 8, 2005 (being the date of issue of the ICULS) (Issue
Date)

Maturity Date: The date falling 7 years from Issue Date

Coupon Rate: RM483,000,000 ICULS will bear a coupon rate of 2%
per annum

Interest Payment Date: The interest will be paid annually in
arrears commencing 12 months after the Issue Date. The last
payment of interest will be made on the Maturity Date calculated
for the period commencing from the day following the previous
interest payment date to Maturity Date

Conversion Period: Conversion into new ordinary shares of TCB
will be allowed on any day between Monday to Friday (inclusive)
which is not a market holiday or public holiday, at any time
during the tenure of RM483,000,000 ICULS, commencing from the
Issue Date and expiring on the Maturity Date, being no later
than 5:00 p.m.

Conversion Price: The conversion price of RM483,000,000 ICULS is
fixed at RM1.00 based on the 5 day weighted average market price
of TCB shares prior to the execution of the SSA, SPA 1 and SPA 2
and in any event not lower than RM1.00.

Mode of Conversion: The Conversion Price shall be satisfied by
tendering RM1.00 nominal value of RM483,000,000 ICULS for one
(1) new ordinary share of TCB. Such converted RM483,000,000
ICULS will thereafter be cancelled by TCB

Redemption: The RM483,000,000 ICULS is not redeemable for cash.
Unless previously converted, all RM483,000,000 ICULS will be
automatically converted by TCB into new ordinary shares of TCB
of RM1.00 each at the Conversion Price on the Maturity Date

Events of Default: Each event stated in in Clause 11 and
Condition 12 of the First Schedule Part C, in the Trust Deed
dated Jan. 11, 2005 shall be constituted as an event of default.
Upon the occurrence of such an event of default, Malaysian
Trustee Berhad may if it deems fit, and shall if so directed by
a special resolution of RM483,000,000 ICULS holders by giving
notice in writing to the Company declare RM483,000,000 ICULS
then outstanding as being immediately payable by the Company
whereupon the Company shall immediately pay and discharge in
full the nominal value of all RM483,000,000 ICULS outstanding as
at the date of receipt by the Company of the said notice
together with accrued interest to the date of repayment

Rights of Holders Upon Liquidation: Upon liquidation, the
Trustee as shall have been directed by a special resolution or
may at its discretion and without further notice to the Company
or the holders of RM483,000,000 ICULS institute proceedings
against TCB as it may think fit to enforce payment of all
amounts due and payable to the holders of RM483,000,000 ICULS

Adjustments: The conversion price and number of RM483,000,000
ICULS may be adjusted from time to time by TCB, in consultation
with its professional advisers, in certain circumstances such as
capitalization of reserves, or rights issues of shares or
capital distribution whether by way of reduction of capital or
otherwise (but excluding any cancellation of capital that is
lost or unrepresented by available assets), as set out in the
Trust Deed

Listing: Approval-in-principle has been obtained from Bursa
Securities on 9 August 2004 for the admission to the Official
List of the Main Board of Bursa Securities and the listing of
and quotation for RM483,000,000 ICULS and the new ordinary
shares of TCB of RM1.00 each to be issued pursuant to the
conversion of RM483,000,000 ICULS on Bursa Securities. The
listing of the RM483,000,000 ICULS is subject to a minimum of
one hundred (100) ICULS holders being public investors

Trust Deed: The RM483,000,000 ICULS are constituted under a
Trust Deed dated Jan. 11, 2005 executed between TCB and
Malaysian Trustees Berhad

Governing Law: The RM483,000,000 ICULS and Trust Deed shall be
governed by and construed in accordance with laws of Malaysia.

Copies of the abovementioned exchange of letters, the letter
from Messrs. PricewaterhouseCoopers dated Jan. 7, 2005, the
letter from Aseambankers dated Jan. 13, 2005 and the Trust Deed
dated Jan. 11, 2005 will be available for inspection at the
registered office of TCB at 21st Floor, Wisma Zelan, No.1 Jalan
Tasik Permaisuri 2, Bandar Tun Razak, Cheras, 56000 Kuala
Lumpur, during normal business hours from Mondays to Fridays
(except public holidays) for a period of one (1) month from the
date of this announcement.

CONTACT:

Tradewinds Corporation Berhad
21st Floor Wisma Zelan
No. 1 Jalan Tasik Permaisuri
2 Bandar Tun Razak
Cheras, 56000 Kuala Lumpur
Malaysia

This announcement is dated Feb. 8, 2005.


=====================
P H I L I P P I N E S
=====================

BACNOTAN CONSOLIDATED: Furnishes SEC a Copy of Form 23-B
--------------------------------------------------------
A director/officer of Bacnotan Consolidated Industries, Inc.
(BCI) furnished the Philippine Stock Exchange a copy of his SEC
Form 23-B (Statement of Changes in Beneficial Ownership of
Securities), pursuant to Section 13 of the Revised Disclosure
Rules pertaining to "Disclosure on Transactions of Directors and
Principal Officers in the Issuer's Securities."

A copy of the said document shall be made available for
reference at the PSE Centre and PSE libraries. The same shall
likewise be made available for downloading at the PSE web site:
http://www.pse.com.ph(under Listed Companies).

For your information.

(Original Signed)
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vuce President

CONTACT:

Bacnotan Consolidated Industries Incorporated
No 39 Plaza Drive Rockwell Centre
4th Floor PHINMA Building
Makati City 1200
Philippines
Phone: +63 2 8700 100
Fax: +63 2 8700 456
Web site: http://www.bonecare.com/


COLLEGE ASSURANCE: Founders To Hand Over Control to Investors
-------------------------------------------------------------
In a move to improve its finances by taking in new investors,
the four families who own College Assurance plans Philippines
Inc. (CAP) are expected to relinquish control of the Company,
Business World reports.

According to CAP First Vice-President Bobby Cafe, the combined
stakes of the Sobrepena, Espaldon, Thomson, and Evangelista
families will be diluted as businessman-lawyer Romeo Roxas and
Fil-Estate Management Inc. (FEMI) assume 52% of the Company,
which means that CAP will become a Roxas-led group.

Mr. Roxas and FEMI, which is led by CAP director Robert John L.
Sobrepena, are supposedly investing real estate worth PhP6
billion and PhP500 million, respectively, to increase CAP's
capitalization to PhP8 billion from PhP300 million currently.

Mr. Roxas's spokesman Arnold Querejero said the extent of Mr.
Roxas' real estate investment in CAP would depend on its final
valuation by regulators.

Earlier reports said that CAP founders would yield 5 to 6 of 11
board seats to investors, but Mr. Caf‚ said this was still under
discussion, and that CAP could increase the number of board
seats to 15.

He added that Company founders were willing to cede control if
only to ensure CAP's continued operations, saying that "it's not
about the money, they want the name CAP to continue."

CONTACT:

College Assurance Plans Philippines Inc.
CAP I Building
126 Amorsolo cor. Herrera Streets
Legazpi Ville, Makati City
Malaysia
Phone: 817-6586, 759-2000
Fax: (0632) 818-0560


COLLEGE ASSURANCE: Has Further Plans to Increase Capitalization
---------------------------------------------------------------
College Assurance Plans Philippines Inc. (CAP) is undergoing
three stages in its plans to increase capitalization, according
to Business World.

CAP must raise PHP500 million to PHP700 million by March, to
service its obligations to planholders.

In allowing new investors, the four founding families of CAP are
expected to free some board seats, allowing real estate
investors to take 52% stake of the Company. According to CAP
Vice President Bobby Caf‚, this is a way to save on taxes,
adding that the combined stake of the founding families would be
diluted further with the entry of USD100 million from a
prospective Canadian investor.

But he said the Canadian firm would invest in the Company only
after CAP gets a new dealer's license, in the second stage of
the Company's capitalization increase plan.

Company creditor First American Investment LLC can also exercise
its option to convert its USD300 million loan to CAP into
shares.

This, Mr. Caf‚ said, would be the third stage of the capital
infusion, further diffusing the stake of the Company founders.

According to an unnamed source, CAP also plans to sell a
property in its trust fund. But the source said the asset was
still being priced.

The source also said CAP was looking to sell PHP1 billion worth
of STI Gift of Knowledge certificates. There are also talks for
a PHP695-million shares-for-assets swap with Fil-Estate
Management, Inc. (FEMI), owned by CAP director Robert John L.
Sobrepena.


COLLEGE ASSURANCE: NBI Probes Bouncing Checks Situation
-------------------------------------------------------
The National Bureau of Investigation (NBI) has begun its probe
into ailing College Assurance Plans Philippines Incorporated
(CAP) for allegedly issuing tuition fee checks that bounced,
according to Business World.

NBI Director Reynaldo Wycoco confirmed that a Special Unit was
recently deployed to investigate the embattled pre-need firm for
supposedly failing to fulfill its financial obligation to its
plan holders.

The investigating team has already gone to 21 schools including
De La Salle University, University of Sto. Tomas, San Beda
College, Assumption College, Letran College, Miriam College and
St. Jude's College to inquire about the alleged bouncing checks.

The NBI has requested documents from the Senate, which is also
inquiring into CAP's case.

CAP reportedly issued some Php149 million worth of bouncing
checks, but had paid Php101 million to cover the said checks.

CAP officials were unavailable for comment.


COLLEGE ASSURANCE: Vows Transparency to Gain Planholders' Trust
---------------------------------------------------------------
College Assurance Plans Philippines (CAP) has agreed to provide
a full disclosure and transparency of issues concerning the pre-
need firm, in a bid to regain the confidence of its planholders,
reports The Manila Standard.

The ailing pre-need Company has earlier pledged it would fully
pay the tuition of 90,000 CAP scholars until they graduate.

But Consumer and Oil Price Watch chairman Raul Concepcion said
CAP should make guarantees that it will be able to honor the
claims of its 700,000 planholders and disclose the reasons if it
won't be able to pay the tuition.

Mr. Conception added that CAP must also let its clients know how
the Company got into its present plight.

Earlier, CAP has assured planholders it will not default on its
obligations, especially now that it has secured a US$300 million
loan and boosted its capital to Php8 billion.


PHILIPPINE LONG: Independent Director Resigns
---------------------------------------------
The Philippine Long Distance Telephone Company disclosed that
Mr. Juan B. Santos relinquished his position as Independent
Director of the Company, effective February 10, 2005. Mr. Santos
has accepted the position of Secretary of the Department of
Trade and Industry and will serve the Philippine Government as a
member of the President's economic team.

The resignation of Mr. Juan B. Santos is not expected to have
any significant impact on the Company's current or future
operations, financial position or results of operation.

Pursuant to the requirement of the Securities Regulation Code,
the Company has duly caused this Report to be signed on its
behalf by the undersigned hereunto duly authorized.

By:

MA. LOURDES C. RAUSA-CHAN
Corporate Secretary

CONTACT:

Philippine Long Distance Telephone Co.
Ramon Cojuangco Building
Makati Avenue, Makati City
Telephone Numbers: 814-3552; 888-0188
Fax Number: (0632) 813-2292
Web site: http://www.pldt.com.ph


PHILIPPINE LONG: Notes Changes in Securities Ownership
------------------------------------------------------
The Philippine Long Distance Company (TEL) furnished the
Philippine Stock Exchange copies of Statement of Changes in
Beneficial Ownership of Securities (SEC Form 23-B) in the
Capital Stock of the Company, showing the changes that have
taken place in the shareholdings of its director and officers
and the amended SEC Form 23-A (Initial Statement of Beneficial
Ownership of Securities) of Mr. Richard N. Ferrer for the month
of January 2005.

Copies of the said documents shall be made available for
reference at the PSE Center and PSE Plaza libraries. The same
shall likewise be made available for downloading at the PSE web
site: http://www.pse.com.ph(under Listed Companies).

Further, the Company, in its letter dated February 8, 2005,
which was received by the Exchange on February 10, 2005,
disclosed that:

"Records of our transfer agent, the Hongkong and Shanghai
banking Corporation (THSBC), also show that J.P. Morgan Hongkong
Nominees Limited held 12.926% of the total outstanding common
shares of the Company, as compared to previous month of
14.705%."

For your information.

(Original Signed)
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President


PILIPINO TELEPHONE: Exposes Rival's Substandard Service
-------------------------------------------------------
Pilipino Telephone Corporation (Piltel) blasted regulators for
failing to enforce the required service performance standards of
telecommunications companies on Sun Cellular, relates Today.

Piltel's legal group revealed Sun Cellular's substandard service
after the former conducted a study on the cellular service
performance of rival Digitel Mobile Philippines Inc. (DMPI),
operator of Sun Cellular unit.

According to the group, DMPI's failed calls do not meet the
requirement set by the National Telecommunications Commission
(NTC). The NTC requires mobile-phone firms to have at least 93
percent successful calls on the first attempt, while DMPI
successfully connects only 38 calls out of every 100 call
attempts.

In addition, Piltel also accuses DMPI of deliberately
disconnecting a call after 15 minutes.

Piltel claims that DMPI has violated the NTC Memorandum Circular
07-06-2002 on the service performance standards for cellular
mobile telephone service (CMTS), which requires all mobile-phone
firms to maintain a grade of service of 7 percent and drop call
rate of only 5 percent.

Piltel has challenged the NTC to conduct its own inquiry on
DMPI's network.

CONTACT:

Pilipino Telephone Corporation
G/F Mobiline Centre
6764 Ayala Avenue
1200 Makati City
Philippines
Telephone: 63 2 811 8888
Fax: 63 2 817 6888


PILIPINO TELEPHONE: NTC to Review Piltel Raps over Sun Cellular
---------------------------------------------------------------
The National Telecommunications Commission (NTC) said it will
look into allegations by Pilipino Telephone Co. (Piltel) that it
is being lax in monitoring Sun Cellular's poor service quality,
reports Business World.

According to Piltel head for legal and carrier business group
Rogelio Quevedo, Sun Cellular is not complying with the NTC
requirement of a 93% call setup success rate.

Mr. Quevedo challenged the NTC to do its own monitoring on the
connectivity and service quality of Sun Cellular since the
regulator collected PHP1.8 billion in fees last year.

In response, NTC Deputy Commissioner Jorge Sarmiento said that
they have a limited budget, adding, "I do not know when the last
time [was that] we conducted the service performance standard
check on telecommunications companies".

Sun Cellular counsel William Pamintuan, senior vice-president
for legal affairs of Digitel Mobile Communications, Inc., said
service quality varies, as it depends on the density and
location of users, among other factors.

Mr. Pamintuan said that Piltel should not be alarmed if they
claim that Sun Cellular service quality is poor, since it means
better business for Piltel.


=================
S I N G A P O R E
=================

BULLION HOLDINGS: Posts Financial Results as of March 31, 2004
--------------------------------------------------------------
Bullion Holdings Pte. Ltd. and its subsidiary companies
furnished the Government Gazette Electronic Edition a copy of
its Balance Sheet and Financial Statement for the financial year
ended March 31, 2004.

To view a full copy of the report, click
http://bankrupt.com/misc/BULLIONHOLDINGS020705.pdf


CARL SCHENCK: Creditors Should Prove Debt by March 11
-----------------------------------------------------
Notice is hereby given that the creditors of Carl Schenck
Singapore Pte Ltd (In Members' Voluntary Liquidation) which is
being wound up voluntarily are required on or before March 11,
2005 to send in their names and addresses and particulars of
their debts or claims, and the names and addresses of their
solicitors (if any) to the undersigned, the liquidator of the
said Company.

If so required by notice in writing by the said liquidator are,
by their solicitors or personally, to come in and prove their
debts or claims at such time and place as shall be specified in
such notice, or in default thereof they will be excluded from
the benefit of any distribution made before such debts are
proved.

Dated this 11th day of February 2005

Cheng Yit Seng
Liquidator
c/o 16 Raffles Quay #22-00
Hong Leong Building
Singapore 048581


KATT PTE: Accepting Proofs of Debt Until March 11
-------------------------------------------------
Notice is hereby given that the creditors of Katt Pte Ltd
(Members' Voluntary Liquidation) which is being wound up
voluntarily, are required on or before March 11, 2005 send in
their names and addresses and the particulars of their debts or
claims, and the names and addresses of their solicitors (if
any), to the liquidators, c/o Foo Kon Tan Grant Thornton at 47
Hill Street, #05-01 Chinese Chamber of Commerce & Industry
Building, Singapore 179365, and if so required are to come in
and prove their debts or claims as shall be specified or in
default will be excluded from the benefits of any distribution
made before such proof.

Toh Shung Fie
Liquidator
Date: 11th February 2005


KIN LIN: First Creditors Meeting Set March 4
--------------------------------------------
Notice is hereby given that the first meeting of Creditors of
Kin Lin Builders Pte Ltd (In Liquidation) will be held at 6
Shenton Way, #29-00 DBS Building Tower Two, Singapore 066809 on
Friday, March 4, 2005 at 2:00 p.m.

To entitle you to vote thereat your proof must be lodged with
the Liquidators not later than 12:00 noon on March 3, 2005 at
the address stated below.

Forms of proof and of general and special proxies are enclosed
herewith.

Proxies to be used at the meeting must also be lodged with the
Liquidators not later than 12:00 noon on March 3, 2005.

Dated this 11th day of February 2005

Tam Chee Chong and Wee Aik Guan
Joint & Several Liquidators
Kin Lin Builders Pte Ltd (In Liquidation)
c/o Deloitte & Touche
6 Shenton Way #32-00
DBS Building Tower Two
Singapore 068809


NG TOH: Issues Notice of Dividend
---------------------------------
Ng Toh Lai Building Contractors Pte Ltd. posted to the
Government Gazette Electronic Edition a dividend notice.

Address of Registered Office:

Formerly of 257 Selegie Road
#12-283 Selegie Complex
Singapore 188350

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 47 of 1991

Amount Per Centum: 1.998%

First and Final or otherwise: First & Final Dividend

When Payable: 1st February 2005

Where Payable:

The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: 11th February 2005

Chan Wang Ho
Assistant Official Receiver


RAYMITEX TRADING: Lays Out Meeting Agenda
-----------------------------------------
Take notice that a meeting of creditors of Raymitex Trading Pte
Ltd (In Liquidation) will be held at Ernst & Young, 10 Collyer
Quay, #06-05 Ocean Building, Singapore 049315, at 10:00 a.m. on
March 8, 2005.

AGENDA

(1) To receive the liquidators' report on the progress of the
liquidation.

(2) To approve the payment of Liquidators' fees and costs.

(3) Any other matters.

Dated this 11th day of February 2005.

Ong Yew Huat & Liew Choon Wei
Joint and Several Liquidators
10 Collyer Quay
#21-01 Ocean Building
Singapore 049315

To entitle you to vote at the meeting, your proof of debt must
be lodged with our office not later than 5:00 p.m. on February
25, 2005.

Forms of general and special proxies are enclosed herewith.
Proxies to be used at the meeting must be lodged at our office
no later than 4:00 p.m. on March 4, 2005.


STONEHENGE TELECOM: Posts Notice of Dividend
--------------------------------------------
Stonehenge Telecom Singapore Pte Ltd (In Creditors' Voluntary
Liquidation) posted in the Government Gazette Electronic Edition
of a notice of dividend.

Registered Office:

10 Collyer Quay
#21-01 Ocean Building
Singapore 049315

Amount per centum: 28.65 cents to a dollar

First and final or otherwise: First and Final

When payable: 11th February 2005

Where payable:

Ernst & Young
10 Collyer Quay
#23-05 Ocean Building
Singapore 049315


TAINET TECHNOLOGY: Members to Meet March 11
-------------------------------------------
Notice is hereby given pursuant to Section 308 of the Companies
Act, Cap. 50, that a Final Meeting of the Members of Tainet
Technology Pte Ltd (In Members' Voluntary Winding Up) will be
held at 138 Cecil Street #15-00, Cecil Court, Singapore 069538
on Friday, March 11, 2005 at 10:00 a.m.

The purpose is laying before the Meeting an account showing how
the winding up has been conducted, and the property of the
Company disposed of and of hearing any explanation that may be
given by the Liquidators, and also of determining by resolution
the manner in which the books, accounts and documents of the
Company and of the Liquidators shall be disposed of.

Dated this 11th February 2005.

Douglas Tan Kay Yeow
Joint Liquidator.

Note:

Pursuant to Section 181 of the Companies Act, Cap. 50, a member
entitled to attend and vote at this Meeting is entitled to
appoint another person or persons (whether a member or not) as
his proxy to attend and vote in his stead.


WAN SOON: Court to Hear Winding Up Petition February 25
-------------------------------------------------------
Notice is hereby given that a petition for the winding up of Wan
Soon Construction Pte Ltd (Under Judicial Management) by the
High Court was, on February 1, 2005 presented by Michael Ng Wei
Teck and Peter Chay Fook Yuen, the Judicial Managers of the
Company.

The petition is to be heard before the Court sitting at the High
Court of Singapore at 10:00 a.m. in the forenoon, on February
25, 2005.

Any creditor or contributory of the Company desiring to support
or oppose the making of an order on the petition may appear at
the time of hearing by himself or his counsel for that purpose.

A copy of the petition will be furnished to any creditor or
contributory of the Company requiring the copy of the petition
by the undersigned on payment of the regulated charge for the
same.

The Petitioner's address is at Messrs KPMG of 16 Raffles Quay,
#22-00 Hong Leong Building, Singapore 048581.

The Petitioner's solicitors are Messrs Rajah & Tann of No. 4
Battery Road, #15-01 Bank of China Building, Singapore 049908.

Messrs Rajah & Tann
Solicitors for the Petitioner
(Ref. PA/CBC/131254/65/lcg)

Note:

Any person who intends to appear at the hearing of the petition
must serve on or send by post to the Petitioner's solicitors,
notice in writing of his intention to do so. The notice must
state the name and address of the person, or if a firm, the name
and address of the firm, and must be signed by the person, firm,
or his or their solicitors (if any) and must be served, or, if
posted, must be sent by post in sufficient time to reach the
above named not later than 12 o'clock noon of February 24, 2005
(the day before the day appointed for the hearing of the
petition).


===============
T H A I L A N D
===============


EMC: Issues Clarification to SET's Letter
-----------------------------------------
EMC Public Company Limited issued a clarification to the letter
sent by the Stock Exchange of Thailand (SET) Ref. Bor Jor.
243/2548 dated February 9, 2005.

(1) The business cooperation between EMC Public Company Limited
and Mr. Felix Ong Kim Huat to expand EMCs business in Indochina
is in the negotiation stage.

Mr. Felix is a high-ranking executive of a Company in Singapore
with investments in Malaysia, Indonesia, Philippines, Peoples
Republic of China, and Vietnam.

In principle of the negotiation, if there is any construction
work inside the business group of Mr. Felix or any Company in
his connection who wants to have an investment in Thailand, Mr.
Felix will coordinate with them in order for EMC to achieve
those projects.

(2) For the reason that Mr. Felix transferred EMC ordinary
shares out of his possession, together with the transferees
names and numbers of shares transferred to each person, EMC has
sent a letter to Mr. Felix on February 9, 2005 asking for his
clarification and tried to contact him though his secretary
several times.

However, this is the Chinese New Year Season, Mr. Felix is
travelling aboard and we cannot get in touch with him.
EMC is still following up this matter urgently.

(3) EMC considered that Mr. Felix was a person of high potential
with good reputation and strong intention to invest in the Stock
Exchange of Thailand, which should be beneficial to the
Company's business expansion. EMCs Board of Directors,
therefore, proposed for the consideration of the Company's
shareholders meeting to grant an approval of the offer of the
new ordinary shares by way of private placement.

If it is true that Mr. Felix has transferred out the new
ordinary shares, this transaction should psychologically affect
the investors. The Company may affect the expansion plan in
Indochina; however, we have been preceding on the agreement with
some more business alliances.

The negotiation has been made with a new leading construction
Company in China to join the construction work in Thailand.
Moreover, EMC has signed a Joint Venture Agreement with Shimizu
Corporation, Dywidag International GmbH and Si Saeng Karn Yotha
(1979) Co., Ltd. for tendering the MRTA Project. EMC also has a
Joint Venture agreement with Siemens Co., Ltd. to work for PEAs
Optical Fibre Project.

EMC has considered entering into the construction of a hospital
in Bangladesh.

EMC's profit operation is definitely not affected by this
matter since the Company's income is wholly gained from the
works in Thailand.

(4) The information regarding experience and expertise of the
other 5 investors are:

(4.1) Mrs. Huadjiam Suabutr

She is a Phuket resident, having strong potential to find the
works in Phuket, Krabi and Phang-Nga. She has been proceeding on
the negotiation for a number of hotel construction works.

(4.2) Mr. Boonmee Iamcheerangura

He assists on the negotiation for a number of plant construction
works, because he has working experience as a high-ranking
executive of a painting Company.

(4.3) Mr. Pongsak Sriwachirapanich

He has working experience in an insurance Company and has good
connection with the authorities in both private and industrial
sectors. He is proceeding on the negotiation for the
construction of residential condominium.  The contract is
expected to be finalized by the end of February 2005.

(4.4) Mr. Anurit Kirdsinchai

He is a coordinator with the government sector.

(4.5) Mr. Adul Boonrawd

He is a coordinator with the government sector.

These five persons not only provide the most benefits to EMC but
also lead EMC to the potential works that is an essential factor
of the construction business.

Please be informed accordingly.

Yours faithfully,
Lt. Gen.Samang Thongpan
Director
CONTACT:

EMC Public Company Limited
Rasa Tower, Floor 22, 555 Phaholyothin Road,
Chatu Chak Bangkok
Telephone: 0-2937-0333
Fax: 0-2937-0329
Web site: http://www.emc-group.co.th


SINO-THAI: Sells SML Shares to Tongkah Harbour
----------------------------------------------
Sino-Thai Resources Development Public Company Limited (STRD)
advised the Stock Exchange of Thailand (SET) that it has sold
226,075 common shares in Sea Mineral Company Limited (SML) to
Tongkah Harbour Public Company Limited for the total sale price
of THB2,260,750.00.

The shares sold under this transaction represented 31.4 percent
of the SML's total paid-up capital of 720,000 shares (par Baht
100) and reduced STRD's shareholding in SML from 31.4 to 0
percent.  In addition, SML had neither liabilities nor guarantee
with STRD.

Please be advised accordingly.

Sincerely,
Sino-Thai Resources Development Public Company Limited.

Umyos Huvanandana
Managing Diretor

The information of the disposal of Company's assets
Sino-Thai Resources Development Public Company Limited

The Board of Directors No. 1/2005 held on February 10, 2005
approved the sale of 226,075 common shares in Sea Mineral
Company Limited to Tongkah Harbour Public Company Limited.
Details are as follows:

(1) The date on which the transaction will be settled :
February 10, 2005

(2) The party involved:  Tongkah Harbour Public Company Limited

(3) The highest value to the total assets: 2.63 %

(4) The details of the assets transaction involved: The number
of ordinary shares of Sea Minerals Company Limited is
226,075 shares at value of Baht 10 per each share which equals
to Baht 2,260,750.00

- Sea Minerals Company Limited has registered capital of Baht
72,000,000 that divided into 720,000.00 shares at value of
Baht 100 per each share and is fully paid-up.  The nature of
business is to conduct survey and offshore Tin mining

(5) The total value of the proceeds: Baht 2,260,750.00

(6) The basis for decision making: Negotiation between STRD and
THL arrived at a price which is higher than the book value of
Sea Mineral Company Limited.

(7) The expected benefits: generate cash flow to be more
financially liquid and for better working capital management.

(8) The detail of connected persons and of related person: None

(9) The resolutions of Audit Committee: Their considerations
were as follows:

- STRD has set aside a full provision for impairment of SML
investments

- Price is higher than book value (baht 3.57 per share) of SML
The Committee agreed with the management to proceed the
proposal to Board of Directors to sell these shares for
approval.

CONTACT:

Sino-Thai Resources Development Public Co., Ltd.
Shinawatra Thai Tower, Floor 7, Zone A,
626 Rama Iv Road, Mahapruttharam, Bang Rak Bangkok
Telephone: 0-2633-0088
Fax: 0-2633-0008


THAI PETROCHEMICAL: Share Allocation Right on Track
---------------------------------------------------
The allocation of capital raising shares of Thai Petrochemical
Industry Public Company (TPI) Limited will proceed as scheduled
despite the unresolved dispute between the Ministry of Finance
and its founder Prachai Leophairatana, relates Business Day.

The Central Bankruptcy Court has mediated over the dispute
between the two parties and issued an order for a reconciliation
meet.  The first round of reconciliation is scheduled February
25 and the second round will be on March 4, 2005.

According to the ministry's permanent secretary Suparut
Kawatkul, the reconciliation process will not delay the share
allocation of TPI.  The meet is believed to be time-consuming
but everything about the share allocation has been processed as
scheduled, and therefore will be completed on time.

It was earlier reported that the Ministry of Finance planned to
sign TPI's shares purchasing deal with its potential business
partners on June 20, 2005.

TPI, which is in the process of restructuring US$2.95 billion in
debt, has the Ministry of Finance as its business rehabilitation
plan administrator.

CONTACT:

Thai Petrochemical Industry Pcl
Tpi Tower,Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Web site: http://www.tpigroup.co.th







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