TCRAP_Public/050314.mbx         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, March 14, 2005, Vol. 8, No. 51

                            Headlines

A U S T R A L I A

AYRSHIRE FLOORING: Resolves to Wind Up Company
CARLYLE PETERSEN: Appoints Liquidator to Wind Up Company
CLEANEVENT PTY: Details Final Dividend, Claims Deadline
DALRICE PTY: Final Meeting Slated for March 16
FORMX CONSTRUCTIONS: Court Issues Order to Wind Up Company

GODENT PTY: To Hold Final Meeting March 18
HUTCHINSON & HARLOW: To Undergo Voluntary Liquidation
JACKS GOURMET: Court Names Liquidator
JAMES HARDIE: Lauds Government Review of Legal Costs
KINGS DEVELOPMENT: To Convene Final Meeting March 16

KJA INTERNATIONAL: Faces Winding Up Proceedings
LEVEL 8: Lays Out Meeting Agenda
NATIONAL AUSTRALIA: Braces for Tier 1 Roadshow in U.S.
NEW ERA: Creditors' Proofs of Debt, Claim Due March 15
NUBLEY TRANSPORT: To Declare Dividend March 24

PACIFIC LIQUOR: To Declare Final Dividend March 28
PRICE WATERHOUSE: Members Pass Resolution to Wind Up Company
RALPH D'SILVA: Hires Liquidator from Chartered Accountant
SAWMILLER TANNER: Blames Closures on Export Woes
SERALOW PTY: Members, Creditors to Meet March 16

SHIRE PROPERTIES: To Pay Dividend March 24
TR CRAMMOND: Members Agree to Wind Up Company
WALTER CONSTRUCTION: Former Workers Fight for Entitlements
XANADU WINES: Moving Closer to Achieving Goal
YODROD PTY: Final Meeting Set March 16


C H I N A  &  H O N G  K O N G

BALECA MEDICAL: Creditors' Proofs of Debt Due March 29
CENTRE MARK: Court to Hear Winding Up Petition March 30
OFS BRIGHTWAVE: Requires Creditors to Submit Proofs of Debt
POLYGON CONTRACTING: Faces Winding Up Proceedings
REBERT FLEMING: Accepting Proofs of Debt, Claim Until April 8

SCANDINAVIA DEVELOPMENT: Winding Up Hearing Fixed April 15
SME HONGKONG: Creditors to Submit Proofs of Debt by April 4
TRILEASE INTERNATIONAL: Proofs of Debt, Claim Due March 21


I N D O N E S I A

INDOFOOD SUKSES: Seeks to Double Net Profit with Bonds Buy Back
*Paris Club Allows Tsunami-Hit Nations to Delay Debt Payment


J A P A N

MITSUBISHI FUSO: Comments on the Transfer of Shares by MMC
MITSUBISHI MOTORS: Delivers Fuso Stake to DaimlerChrysler
MITSUBISHI MOTORS: S&P Downgrades Rating to Selective Default
MITSUBISHI MOTORS: METI Authorizes Changes to Restructuring Plan
MITSUBISHI MOTORS: Details Change in Principal Shareholders

SOJITZ HOLDINGS: Pegs Commodities Loss at JPY18 Bln
SOJITZ HOLDINGS: Moody's Changes Unit's Outlook to Stable
TOSHIBA CORPORATION: Readies Latest Technologies for CeBIT 2005


K O R E A

JINRO LIMITED: KRW70-Bln Downpayment Scares Creditors
SAMSUNG CARD: Parent Keen on Taking New Shares


M A L A Y S I A

AKTIF LIFESTYLE: Bourse Grants Extension Application
BELL & ORDER: Served with Winding Up Petition
FABER GROUP: Granted Listing of Additional Shares
INNOVEST BERHAD: Still Seeks to Regularize Financial Condition
KAI PENG: Completes Corporate Exercises

LION INDUSTRIES: To List More Shares Today
MECHMAR CORPORATION: Divests Interest to Ranhill Power
MECHMAR CORPORATION: Trading in Shares Suspended
PANTAI HOLDINGS: Buys Back 35,900 Shares
POS MALAYSIA: Set to List New Ordinary Shares

RHB CAPITAL: Transfers Islamic Business to RHB Islamic Bank
TALAM CORPORATION: Notes Additional Shares Listing


P H I L I P P I N E S

BENPRES HOLDINGS: Lopez Provides Copy of SEC Form 23-B
PHILIPPINE LONG: Posts Beneficial Ownership Statements
PHILIPPINE LONG: Set to List More Shares Today
PILIPINO TELEPHONE: Jumps Into Unlimited Call/Text Bandwagon
QUEZON POWER: Moody's Confirms B3 Debt Rating


S I N G A P O R E

ACCORD CUSTOMER: Delays Refurbishment Service Agreement
KOH BROTHERS: Agrees to Extend Deadline on Waiver of Conditions
KOH BROTHERS: Updates Ratio of Capital Distribution
NISON INDUSTRIAL: Faces Winding Up Proceedings
PARISON SYSTEM: To Undergo Winding Up Process

STARTECH ELECTRONICS: Appoints New Company Secretary
U.D. INTER-OCEAN: Court to Hear Petition April 1
UNIGLO CUISINE: Faces Winding Up Proceedings
WEARNES INTERNATIONAL: Malaysian Units Liquidated
W&P MANAGEMENT: Proofs of Debt, Claim Due April 5


T H A I L A N D

BANGKOK STEEL: Trading of Securities Still Suspended
THAI GERMAN: Releases Audited Yearly FS

     -  -  -  -  -  -  -  -

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


AYRSHIRE FLOORING: Resolves to Wind Up Company
----------------------------------------------
At a meeting of Members held on February 7, 2005, it was
unanimously resolved, pursuant to Section 491(1) of the
Corporations Act, that Ayrshire Flooring Pty Limited (In
Liquidation) A.C.N. 105 632 997 be wound up and Stephen Gower
Baker be appointed Liquidator.

Stephen Baker & Co
Chartered Accountant
Suite 2, 98 Woolwich Road,
Woolwich NSW 2110
Telephone: 9817 6427
Facsimile: 9879 0964


CARLYLE PETERSEN: Appoints Liquidator to Wind Up Company
--------------------------------------------------------
Notice is hereby given that at a general meeting of members of
Carlyle Petersen Pty Ltd (In Liquidation) A.C.N. 000 763 977
held on February 7, 2005 it was resolved that the company be
wound up voluntarily and that for such purposes Mr. John
Frederick Taylor of Level 15, 309 Kent Street, Sydney was
appointed as liquidator.

Dated this 7th day of February 2005

J. F. Taylor
Liquidator
c/- WHK Greenwoods


CLEANEVENT PTY: Details Final Dividend, Claims Deadline
-------------------------------------------------------
A second and final dividend is to be declared on April 12, 2005
for Cleanevent Pty Ltd (Subject To Deed Of Company Arrangement)
A.C.N. 052 304 702.

Creditors or persons claiming to be a creditor are required
formally to prove their debt or claim on or before March 15,
2005.

If they do not, the deed administrator will exclude their claim
from participation, and the deed administrator will proceed to
make a second and final dividend without having regard to it.

Dated this 31st day of January 2005

Michael J. Humphris
Deed Administrator
Horwath Melbourne Partnership
Chartered Accountants
Level 5, 114 William Street,
Melbourne Vic 3000


DALRICE PTY: Final Meeting Slated for March 16
----------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a meeting of the members of Dalrice Pty Ltd (In
Liquidation) A.C.N. 097 685 026 will be held at the offices of
Jones Condon Scott, Ground Floor, 77 Station Street Malvern on
March 16, 2005, at 9:30 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 3rd day of February 2005

David H. Scott
Liquidator
Jones Condon Scott
Chartered Accountants
77 Station Street, Malvern Vic 3144


FORMX CONSTRUCTIONS: Court Issues Order to Wind Up Company
----------------------------------------------------------
On February 1, 2005 the Supreme Court made Orders that Formx
Constructions (Aust) Pty Limited (In Liquidation) A.C.N. 104 720
363 be wound up and appointed Mark Roufeil to be Official
Liquidator.

Mark Roufeil
Gavin Thomas & Partners
Level 9, 31 Market Street, Sydney


GODENT PTY: To Hold Final Meeting March 18
------------------------------------------
Notice is hereby given pursuant to Section 509(2) of the
Corporations Act 2001 that a final meeting of members and
creditors of Godent Pty Limited (In Liquidation) A.C.N. 076 666
110 will be held at the offices of Jirsch Sutherland Chartered
Accountants, Level 2, 84 Pitt Street, Sydney NSW 2000 on Friday,
March 18, 2005 at 10:00 a.m. for the purpose of having an
account laid before the members and creditors showing them the
manner in which the winding up has been conducted, the property
of the company disposed of, and the hearing of any explanations
that may be given by Liquidator.

Dated this 7th day of February 2005

Sule Arnautovic
Liquidator
Jirsch Sutherland Chartered Accountants
Level 2, 84 Pitt Street,
Sydney NSW 2000
Telephone: (02) 9233 2111
Facsimile: (02) 9233 2144


HUTCHINSON & HARLOW: To Undergo Voluntary Liquidation
-----------------------------------------------------
Notice is hereby given that a general meeting of Hutchinson &
Harlow (Real Estate) Pty Ltd (In Liquidation) A.C.N. 001 478 771
held on January 24, 2005, it was resolved that the company be
wound up voluntarily and that for such purposes Anthony James
Gilbey of 109 Jessie Street Armidale New South Wales be
appointed as liquidator.

Dated this 24th day of January 2005

A. J. Gilbey
Liquidator


JACKS GOURMET: Court Names Liquidator
-------------------------------------
On February 1, 2005 the Supreme Court made Orders that Jacks
Gourmet Holdings Pty Limited (In Liquidation) A.C.N. 102 730 503
be wound up and appointed Mark Roufeil to be Official
Liquidator.

Mark Roufeil
Gavin Thomas & Partners
Level 9, 31 Market Street, Sydney


JAMES HARDIE: Lauds Government Review of Legal Costs
----------------------------------------------------
James Hardie Industries NV (JHINV) has acknowledged the NSW
Government's recommendations as a positive first step towards
establishing a more efficient system, following its Review of
Legal, Administrative and Other Costs in Dust Diseases
Compensation Claims (the "Review").

The reduction of legal, administrative and other costs is an
important factor in the future affordability and sustainability
of James Hardie's proposal for the long-term funding of asbestos
related personal injury claims. This principle was agreed to by
all parties to the Heads of Agreement entered into on 21
December 2004 between JHINV and the NSW Government, the ACTU and
asbestos victims groups.

The key NSW Government recommendations that will assist with
cost reduction are:

(1) the early provision of as much information as possible by
claimants in a prescribed form prior to actively litigating the
claim in court;

(2) a formal process of settlement offers and mediation prior to
active litigation in court;

(3) streamlining of Dust Diseases Tribunal procedures for
matters that are not resolved by settlement offers and do
proceed to a court hearing; and

(4) cost penalties if litigation proceeds and the result is not
materially different from the settlement offers.

However, some key aspects of the proposed cost reduction are to
be the subject of further development, including:

(1)  the determination of the apportionment of liability between
all liable parties;

(2) the settlement of claims through a single claims manager
representing the liable parties; and

(3) new legislation to give effect to the recommendations.

Disputes and delays due to multiple defendants are a major
contributor to cost. The issues arising in multiple defendant
cases, while often complex, are to be the subject of conferences
between interested parties (defendants and insurers) over the
coming weeks.

While the Review is concerned solely with NSW procedures and
legislation, the NSW Government has previously indicated its
willingness to promote the recommendations of the Review to
other states. The adoption of these recommendations by other
States and Territories is a critical issue.

"The Government's proposal is a positive step towards a more
efficient alternative to costly litigation as a means of
resolving the majority of claims without diminishing claimants'
rights," said Russell Chenu, Chief Financial Officer, James
Hardie Industries.

"The waste involved with the current system where legal costs
are 36% of the payments projected to be received by claimants
from the Medical Research and Compensation Foundation1 is
unacceptable and requires dramatic reform."

Mr. Chenu said it is essential the proposed new procedures be
covered by legislation to ensure they operate effectively for
all parties and are sustainable in the long-term. He welcomed
the NSW Government's commitment to introduce this legislation
and to collect accurate cost data to provide the basis of a
further annual review. James Hardie believes the suggested
review should be undertaken periodically to ensure the efficacy
and sustainability of the revised system.

Finalization of the Principal Agreement, contemplated by the
Heads of Agreement, which is currently being progressed between
James Hardie and the NSW Government, is contingent on the final
outcome of the Review - including those areas requiring further
development.

CONTACT:

James Hardie Industries
Website: http://www.jameshardie.com.au/

Greg Baxter
Executive Vice President
Level 3, 22 Pitt Street
Sydney NSW 2000
Telephone: (02) 8274 5305
Fax: (02) 8274 5218
Mobile: 0419 461 368

Steve Ashe
Vice President Investor Relations
Telephone: (02) 8274 5246
Fax: (02) 8274 5218
Mobile: 0408 164 011

Julie Sheather
Vice President Public Affairs
Telephone: (02) 8274 5206
Fax: (02) 8274 5218
Mobile: 0409 514 643

All other enquiries to CustomerLink Service Centre on 13 1103.


KINGS DEVELOPMENT: To Convene Final Meeting March 16
----------------------------------------------------
Notice is hereby given that pursuant to Section 509(2) of the
Corporations Act 2001, the Final Meeting of Members and
Creditors of Kings Development (NSW) Pty. Limited (In
Liquidation) A.C.N. 100 861 863 will be held at the offices of
Bentleys MRI Sydney Business Recovery & Insolvency Partnership,
Level 8, Barrack House, 16-20 Barrack Street, Sydney NSW on
March 16, 2005 at 4:00 p.m. for the purpose of laying before the
meeting the Liquidator's final account and report and giving any
explanation thereof.

Dated this 15th day of February 2005

Ozem Kassem
Liquidator
Telephone: (02) 8221 4833


KJA INTERNATIONAL: Faces Winding Up Proceedings
-----------------------------------------------
On February 4, 2005 the Supreme Court made an Order that KJA
International Pty Limited (In Liquidation) also known as
Environmental Care Services Pty Limited A.C.N. 096 312 971 be
wound up and appointed me to be Official Liquidator.

Mark Roufeil
Gavin Thomas & Partners
Level 9, 31 Market Street, Sydney


LEVEL 8: Lays Out Meeting Agenda
--------------------------------
Notice is given that a meeting of the members of Level 8 Systems
Australia Pty Ltd (In Liquidation) A.C.N. 060 401 550 will be
held at Level 15, 201 Sussex Street, Sydney, NSW, 1171 on March
15, 2005 at 10:00 a.m.

AGENDA

(i) To lay the Liquidator's account before the members showing
how the winding up has been conducted and the property of the
company has been disposed of, and to give any explanations as
required;

(ii) Any other business.

Dated this 7th day of February 2005

David Clement Pratt
Timothy James Cuming
Liquidator
PricewaterhouseCoopers
Level 15, 201 Sussex Street,
Sydney NSW 1171


NATIONAL AUSTRALIA: Braces for Tier 1 Roadshow in U.S.
-----------------------------------------------------
National Australia Bank will conduct a roadshow in the United
States this week to assess institutional investor interest in a
possible issue of Tier 1 Trust Preferred Securities.

An issue of hybrid Tier 1 capital supports the National's
objective of efficient capital management. The Proceeds from any
Tier 1 issue would be used by the National's London Branch for
general business purposes.

This statement is not an offer of securities for sale. The
securities offer will not be registered under the U.S Securities
Act of 1933. Nor may they be offered or sold in the United
States without meeting, or being exempt from, the registration
requirements.

CONTACT:

National Australia Bank Ltd.
Level 24, 500 Bourke Street,
Melbourne, Victoria, Australia, 3000
Head Office Telephone: (03) 8641-4160
Head Office Fax: (03) 8641-4927
Web site: http://www.national.com.au/


NEW ERA: Creditors' Proofs of Debt, Claim Due March 15
------------------------------------------------------
Take notice that creditors of New Era of Networks (Australia)
Pty Limited (In Liquidation) A.C.N. 081 285 350, whose debt or
claims have not already been admitted, are required on or before
March 15, 2005 to submit particulars of their debts or claims
and of any security held by them to me.

If subsequently required by notice in writing from the
liquidator, they must formally prove their debts or claims and
establish any title they may have to priority by statement in
writing. If they do not comply with this notice they will be
excluded from:

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

(b) Objecting to the distribution.

Dated this 3rd day of February 2005

P. A. Billingham
Liquidator
Grant Thornton
Level 17, 383 Kent Street,
Sydney NSW 2000


NUBLEY TRANSPORT: To Declare Dividend March 24
----------------------------------------------
A first and final dividend is to be declared on March 24, 2005
for Nubley Transport Pty Limited (In Liquidation) A.C.N. 003 116
087.

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

Dated this 15th day of February 2005

Danny Vrkic
Liquidator
Jirsch Sutherland & Co - Wollongong
Chartered Accountants
Level 3, 6-8 Regent Street, Wollongong NSW 2500.
Telephone: 02 4225 2545
Facsimile: 02 4225 2546


PACIFIC LIQUOR: To Declare Final Dividend March 28
--------------------------------------------------
A first and final dividend is to be declared on March 28, 2005
for Pacific Liquor Partners Pty Ltd (In Liquidation) formerly
trading as Wine Partners A.C.N. 073 653 997.

Creditors whose debt or claims have not already been admitted
are required on or before March 15, 2005 formally to prove their
debt or claims. If they do not, they will be excluded from the
benefit of the dividend.

Dated this 2nd day of February 2005

A. R. Yeo
Joint & Several Liquidator
Pitcher Partners
Level 6, 161 Collins Street,
Melbourne Vic 3000


PRICE WATERHOUSE: Members Pass Resolution to Wind Up Company
------------------------------------------------------------
At a general meeting of the members of Price Waterhouse
Corporate Finance Pty Ltd (In Liquidation) A.C.N. 007 296 755
held at Darling Park Tower 2, 201 Sussex Street, Sydney on
February 3, 2005 a special resolution that the company be wound
up voluntarily was passed.

Timothy James Cuming
David Clement Pratt
Liquidator
Level 15, 201 Sussex Street,
Sydney NSW 1171


RALPH D'SILVA: Hires Liquidator from Chartered Accountant
---------------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Ralph D'silva Investment Pty Ltd (In Liquidation) A.C.N. 079
432 394, held on February 1, 2005, it was resolved that the
company be wound up voluntarily and that Andrew McLellan of PPB,
Chartered Accountants, Level 10, 90 Collins Street, Melbourne,
Victoria, 3000 be appointed as Liquidator.

Notice is also given that after 21 days from this date the
liquidator shall proceed to distribute the assets. All creditors
having any claims against the company should furnish particulars
of same by that date, otherwise the liquidator shall proceed to
distribute the assets without regard to their claim.

Dated this 1st day of February 2005

Andrew Mclellan
Liquidator
PPB
Chartered Accountants
Level 10, 90 Collins Street,
Melbourne Vic 3000


SAWMILLER TANNER: Blames Closures on Export Woes
------------------------------------------------
Sawmiller Tanner Group is saying goodbye to its 43-year old
business after struggling with export troubles, reports The
Dominion Post.

The embattled company will shut down its mills in Northland,
Tirau and Coromandel in the next four months with the loss of
150 jobs.

Sawmiller Tanner attributed its lackluster performance on
skyrocketing compliance costs and the high dollar, which cut its
revenue by 20 percent.

Company chief Allan Tanner said everything had been done to
avoid the closures and he found it a difficult decision to make.

The decision was made to opt for a controlled wind-down to be
responsible to creditors, staff and bankers. The company was not
going into receivership or liquidation and all holiday pay due
to staff would be paid.

The planned closure follows a number of receiverships, shutdowns
and reduced shifts at sawmills around New Zealand last year when
the building industry was booming.


SERALOW PTY: Members, Creditors to Meet March 16
------------------------------------------------
Notice is hereby given that pursuant to Section 509(2) of the
Corporations Act 2001, the Final Meeting of Members and
Creditors of Seralow Pty. Limited (In Liquidation) A.C.N. 003
688 944 will be held at the offices of Bentleys MRI Sydney
Business Recovery & Insolvency Partnership, Level 8, Barrack
House, 16-20 Barrack Street, Sydney NSW on March 16, 2005 at
10:00 a.m. for the purpose of laying before the meeting the
Liquidators' final account and report and giving any explanation
thereof.

Dated this 15th day of February 2005

Ozem Kassem
Liquidator
Telephone: (02) 8221 8433


SHIRE PROPERTIES: To Pay Dividend March 24
------------------------------------------
A first and final dividend is to be declared on March 24, 2005
for Shire Properties Pty Ltd (In Liquidation) A.C.N. 088 102
201.

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

Dated this 15th day of February 2005

Danny Vrkic
Liquidator
Jirsch Sutherland & Co - Wollongong
Chartered Accountants
Level 3, 6-8 Regent Street,
Wollongong NSW 2500
Telephone: 02 4225 2545
Facsimile: 02 4225 2546


TR CRAMMOND: Members Agree to Wind Up Company
---------------------------------------------
Notice is hereby given that at a general meeting of members of
TR Crammond Pty Limited (In Liquidation) A.C.N. 087 167 726 held
on February 7, 2005, it was resolved that the company be wound
up voluntarily and that for such purpose R. M. Sutherland was
appointed Liquidator of the company.

Dated this 7th day of February 2005

R. M. Sutherland
Liquidator
Jirsch Sutherland
Chartered Accountants
Level 2, 84 Pitt Street, Sydney NSW 2000
Telephone: (02) 9233 2111
Facsimile: (02) 9233 2144


WALTER CONSTRUCTION: Former Workers Fight for Entitlements
----------------------------------------------------------
A group of former Walter Construction Group workers sought to
meet with federal opposition leader Kim Beazley to fight for
their entitlements, reports the Australia Associated Press.

The group wanted to present Mr. Beazley a petition containing
more than 3,500 signatures of support collected in just over a
week. The delegation claimed that the General Employee
Entitlement and Redundancy Scheme (GEERS) of the federal
government did not protect 100 percent of worker's entitlements.

Walter Construction's collapse had resulted to the retrenchment
of more than 300 workers in New South Wales and Queensland.

The building contractor called in administrators KordaMentha
last month with more than AU$100 million in debt after its
German parent Walter Bau AG filed for insolvency due to credit
problems.


XANADU WINES: Moving Closer to Achieving Goal
---------------------------------------------
The Directors of Xanadu Wines Limited wish to provide further
details pertaining to events which occurred subsequent to the
latest balance date and which they believe have had a positive
impact on the financial position and future operations of the
company.

- On the 8th February 2005 Xanadu Wines Limited sold the
Jindawarra vineyard property comprising of 45 hectares under
vine for consideration of $2.75 million with settlement
effective 4th March 2005;

-  On the 28th February 2005 Xanadu Wines Limited sold the South
Australian assets including the NXG, Normans and Jindawarra
brands as well as associated stocks, global distribution and the
Adelaide Hills 3,000 tonne winery, cellar door and vineyard, for
consideration of $7 million, with settlement effective 27th
April 2005;

- The Company issued $1.0 million of convertible notes on the
14th January 2005. In addition, the Directors have - as part of
an earlier $3.5 million Convertible Note placement committed to
the conversion of up to $2.27 million presently reflected on the
company's balance sheet as interest bearing liabilities to
convertible notes; to become effective pursuant to a proposed
shareholder's meeting and the consent of the trustee.

The Directors believe the reduction of debt places the Company
on a sound financial footing to pursue its new direction as a
pure Margaret River-based wine group producing premium and super
premium wines under a single brand - Xanadu.

CONTACT:

Xanadu Wines
Boodjidup Road, Margaret River
West Australia 6285
Phone: (61) 8 9757 2581
Fax: (61) 8 9757 3389
Web site: http://www.xanadunormans.com.au/


YODROD PTY: Final Meeting Set March 16
--------------------------------------
Notice is hereby given that pursuant to Section 09(2) of the
Corporations Act 2001, the Final Meeting of Members and
Creditors of Yodrod Pty. Limited (In Liquidation) A.C.N. 003 455
589 will be held at the offices of Bentleys MRI Sydney Business
Recovery & Insolvency Partnership, Level 8, Barrack House, 16-20
Barrack Street, Sydney NSW on Wednesday, March 16, 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 15th day
of February 2005

Ozem Kassem
Liquidator
Telephone: (02) 8221 8433


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


BALECA MEDICAL: Creditors' Proofs of Debt Due March 29
------------------------------------------------------
The Liquidators of Baleca Medical Limited (In Creditors'
Voluntary Liquidation) hereby provide notice pursuant to rule 93
of the Companies (Winding-up) Rules that they intend to declare
a first and final dividend and all creditors are required to
prove their debt.

Any creditor who does not lodge a formal Proof of Debt form with
the Liquidators by March 29, 2005 will be excluded from the
benefit of the dividend.

Company number: 274863

Address for Proofs:

7/F Allied Kajima Building,
138 Gloucester Road
Wanchai
Hong Kong

Last day for receiving Proofs: Tuesday, 29 March 2005

Dated this 11th day of March 2005

Cosimo Borrelli
Joint and Several Liquidator


CENTRE MARK: Court to Hear Winding Up Petition March 30
-------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Centre Mark Building Services Limited by the High Court of Hong
Kong Special Administrative Region was on January 28, 2005
presented to the said Court by Chow Wai Sheung of Room J, 5th
Floor, Block 4, Aldrich Garden, Shau Kei Wan, Hong Kong and Chan
Ngai Ming Lewis of Room 2, 24th Floor, Block E, New Kwai Fong
Garden, Kwai Chung, New Territories, Hong Kong.

The said Petition is to be heard before the Court at 9:30 am on
March 30, 2005.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said 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 said company requiring the same by the
undersigned on payment of the regulated charge for the same.

CHONG, SO & CO.
Solicitors for the Petitioner
Units 702-3, Crocodile House ll
55 Connaught Road Central
Central, Hong Kong
Tel: 2581-3833
Fax: 2581-3811
Ref: BC/WU-4405/2004

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.

The Notice must state the name and address of the person, or if
a firm or his or their Solicitor (if any) and must be served or
if posted, must be sent by post in sufficient time to reach the
abovenamed not later than six o'clock in the afternoon of March
29, 2005.


OFS BRIGHTWAVE: Requires Creditors to Submit Proofs of Debt
-----------------------------------------------------------
Notice is hereby given that the Creditors of OFS Brightwave Asia
Pacific, Limited (In Members' Voluntary Winding Up), which is
being voluntarily wound up, are required on or before April 8,
2005 to send their names, addresses and descriptions, full
particulars of their debts or claims, as well as the names and
addresses of their solicitors (if any) to the undersigned.

If so required by notice in writing from the said liquidators,
they are to prove their debt or claims at such time and place as
shall be specified in such notice.

In default thereof, such creditors will be excluded from the
benefit of any distribution before such debts are proved.

Dated this 7th day of March 2005

Leung Fung Yee Alice
Liquidator
5th Floor, Jardine House
1 Connaught Place
Central, Hong Kong


POLYGON CONTRACTING: Faces Winding Up Proceedings
-------------------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court Of First Instance issued a winding up order to Polygon
Contracting Limited of Rms 1801 - 1805, Huaqin International
Bldg, 340 Queen's Rd, Central, HK on February 16, 2005.

The winding up petition was presented on December 17, 2004.

Dated this 25th day of February 2005

E T O'connell
Official Receiver


REBERT FLEMING: Accepting Proofs of Debt, Claim Until April 8
-------------------------------------------------------------
Notice is hereby given that the Creditors of Rebert Fleming
(Hong Kong) Limited (In Members' Voluntary Liquidation), which
is being voluntarily wound up, are required on or before April
8, 2005 to send their names, addresses and descriptions, full
particulars of their debts or claims, as well as the names and
addresses of their solicitors (if any) to the undersigned.

If so required by notice in writing from the said liquidators,
they are to prove their debt or claims at such time and place as
shall be specified in such notice.

In default thereof, such creditors will be excluded from the
benefit of any distribution before such debts are proved.

Dated this 23rd day of February 2005

Lo Wai Tsun
Joint and Several Liquidator
27th Floor, Chater House
8 Connaught Road Central
Hong Kong


SCANDINAVIA DEVELOPMENT: Winding Up Hearing Fixed April 15
----------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Scandinavia Development Limited by the High Court of Hong Kong
Special Administrative Region was on February 3, 2005 presented
to the said Court by Bank of China (Hong Kong) Limited whose
registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.

The said Petition is to be heard before the Court at 9:30 am on
April 13, 2005.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said 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 said company requiring the same by the
undersigned on payment of the regulated charge for the same.

W. I. Cheung & Co.
Solicitors for the Petitioner
Room 2505-10, Wing On House
71 Des Voeux Road Central
Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.

The Notice must state the name and address of the person, or if
a firm or his or their Solicitor (if any) and must be served or
if posted, must be sent by post in sufficient time to reach the
abovenamed not later than six o'clock in the afternoon of April
12, 2005.


SME HONGKONG: Creditors to Submit Proofs of Debt by April 4
------------------------------------------------------------
Notice is hereby given that the Creditors of SME HongKong
Limited (In Members' Voluntary Liquidation), which is being
voluntarily wound up, are required on or before April 4, 2005 at
noon to send their names, addresses and descriptions, full
particulars of their debts or claims, as well as the names and
addresses of their solicitors (if any) to the Liquidators of the
said Company.

If so required by notice in writing from the said liquidators,
they are to prove their debt or claims at such time and place as
shall be specified in such notice.

In default thereof, such creditors will be excluded from the
benefit of any distribution before such debts are proved.

Dated this 4th day of March 2005

Suen Pui Yee
Iain Ferguson Bruce
Liquidators
11/F., Prince's Building
10 Chater Road Central
Hong Kong


TRILEASE INTERNATIONAL: Proofs of Debt, Claim Due March 21
----------------------------------------------------------
Notice is hereby given that the creditors of Trilease
International Limited (In Members' Voluntary Liquidation), which
is in Members' Voluntary Liquidation, are required (if they have
not already done so), on or before the close of business on
March 21, 2005, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors, if any, to the undersigned at 27th Floor,
Alexandra House, 16-20 Chater Road, Central, Hong Kong.

If so required by notice in writing from the said liquidators,
they are to prove their debt or claims at such time and place as
shall be specified in such notice.

In default thereof, such creditors will be excluded from the
benefit of any distribution before such debts are proved.

Dated this 4th day of March 2005

Gabriel Ck Tam
Edward S Middleton
Joint and Several Liquidators


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

INDOFOOD SUKSES: Seeks to Double Net Profit with Bonds Buy Back
---------------------------------------------------------------
PT Indofood Sukses Makmur expects its 2005 net profit return to
IDR600 billion, if U.K. courts approve the Company's plan to buy
back Eurobonds worth IDR2.9 trillion, reports Dow Jones.

According to Indofood finance director Thomas Tjhie, the
approval of the bonds buyback plan would free the Company from
foreign debt.

Indofood posted a 37 percent decline in its 2004 net profit,
from IDR603.5 billion to IDR378.1 billion, due to losses
incurred in foreign exchange. The Company garnered such losses
with the rupiah losing to the U.S. dollar by 8.9 percent.

Since bondholders didn't approve the bonds buyback plan, the
Company turned to British courts to approve the plan, after the
early termination of a double taxation between Indonesia and
Mauritius, which would mean a twofold increase in withholding
tax (up to 20 percent) for the Company's bonds due in 2007.

Indofood has bought back 37 percent (IDR1.09 trillion) of the
Eurobonds.

Mr. Thomas added that the Company would issue local bonds in
June, or after UK Courts approve the plan, on order to refinance
the bonds redemption. In a further attempt to refinance foreign
debt, Indofood plans to sell 15 percent of its shares in its
flour division, Bogasari Flour Mills.

CONTACT:

PT Indofood Sukses Makmur Tbk.
Ariobimo Sentral Bldg., 12th Fl.,
Jl. H.R. Rasuna Said X-2 Kav 5, Kuningan
Jakarta, 12950, Indonesia
Phone: +62-21-522-8822
Fax:   +62-021-522-6014
Web site: http://www.indofood.co.id


*Paris Club Allows Tsunami-Hit Nations to Delay Debt Payment
------------------------------------------------------------
The Paris Club has agreed that Indonesia and other nations
affected by the recent tsunami could delay their debt payments,
reports Kyodo news.

The club released a statement, saying: "In keeping with the
national laws of creditor countries, the Paris Club of major
credit nations will not expect debt payments on due claims from
countries affected by the Dec. 26 tsunami until Dec. 31, 2005."

The Club also offered that the deferral be repaid over five
years, with a one-year grace period, thus allowing Indonesia and
Sri Lanka time to repay their IDR30.9 trillion debt.


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

MITSUBISHI FUSO: Comments on the Transfer of Shares by MMC
----------------------------------------------------------
On Thursday, Mitsubishi Motors Corporation (MMC) and
DaimlerChrysler (DC) reached the final agreement to "transfer
MMC's 20% share in Mitsubishi Fuso Truck and Bus Corporation to
DC". As a result of this agreement, DC's share in our company
will rise from 65% to 85%, the remaining 15% remain with
Mitsubishi Group companies.

We will continue our good relationships with MMC as a business
partner, and Mitsubishi Group companies as our shareholders. We
are and will be committed to "restoring confidence", under the
full and long-term support of DaimlerChrysler.

Wilfried Porth
President and CEO
Mitsubishi Fuso Truck and Bus Corporation

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


MITSUBISHI MOTORS: Delivers Fuso Stake to DaimlerChrysler
---------------------------------------------------------
Mitsubishi Motors Corporation on Thursday transferred its
remaining 20 percent stake in Mitsubishi Fuso to
DaimlerChrysler, Dow Jones Newswires reports.

The shares transfer was part of a deal inked by MMC and
DaimlerChrysler, which was intended to end a dispute arising
from the sale of MMC's truck making arm, Fuso, to the German-
American auto maker.

DaimlerChrysler now holds 85 percent of Fuso, with the remainder
held by Mitsubishi group companies.

In a written statement to company employees, Mitsubishi Fuso
said there will be no change in the truck maker's logo or name
after MMC unloaded all its stake in the company.

CONTACT:

Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
Web site: http://www.mitsubishi-motors.co.jp


MITSUBISHI MOTORS: S&P Downgrades Rating to Selective Default
-------------------------------------------------------------
Standard & Poor's Ratings Services on Friday lowered its long-
term issuer rating on Mitsubishi Motors Corp. (MMC) to 'SD'
(Selective Default) from 'CC', following the completion of a
capital infusion totaling JPY274 billion, including a debt-for-
equity swap worth JPY54 billion by Bank of Tokyo-Mitsubishi Ltd.
(BTM: A-/Positive/A-1). Mitsubishi Corp. (A-/Positive/A-2) and
Mitsubishi Heavy Industries Ltd. (BBB/Negative/--) are also
contributing to the capital infusion.

"Standard & Poor's views debt-for-equity swaps as tantamount to
default, since the consideration received is less than par
value," said Standard & Poor's credit analyst Chizuko Satsukawa.

The long-term corporate credit rating represents the issuer's
willingness and ability to pay all financial obligations on a
timely basis. An 'SD' rating is assigned to an issuer if it
receives a debt-for-equity swap and selectively defaults on a
specific issue or class of obligations, even though the issuer
is not in default legally and continues to pay other
obligations.

On March 22, 2005, MMC is scheduled to receive a capital
infusion that will involve another debt-for-equity swap on bank
loans worth JPY10.2 billion from Mitsubishi Trust & Banking
Corp. (A-/Positive/A-1). Standard & Poor's will assign a new
issuer rating on MMC upon completion of that debt-to-equity
swap. The new rating is likely to be in the 'CCC' category,
reflecting strong concerns over the company's financial
performance.

Ratings List
                              To           From
Corporate credit rating       SD           CC/Negative/--

This rating was initiated by Standard & Poor's and may be based
solely on publicly available information and without the
participation of the issuer's management. Standard & Poor's has
used information from sources believed to be reliable, but does
not guarantee the accuracy, adequacy or completeness of any
information used.

Ratings are statements of opinion, not statements of fact or
recommendations to buy, hold, or sell any securities. Other
analytic services performed by Standard & Poor's may be based on
information that was not available for this rating and this
report.


MITSUBISHI MOTORS: METI Authorizes Changes to Restructuring Plan
----------------------------------------------------------------
Changes to the business restructuring plan of Mitsubishi Motors
Corporation, originally approved on July 16, 2004, pursuant to
Article 3, Paragraph 6 of the Law on Special Measures for
Industrial Revitalization, were examined and found to fulfill
the requirements of Article 4, Paragraph 5 of the said law.

The changes were consequently approved by the Ministry of
Economy, Trade and Industry.


MITSUBISHI MOTORS: Details Change in Principal Shareholders
-----------------------------------------------------------
On March 10, 2005, there was a change in the principal
shareholders (shareholders with over 10 percent ownership of
total outstanding voting shares) of Mitsubishi Motors
Corporation (MMC). The following outlines the changes:

1. Details of the change

MMC announced on February 14, 2005 that the Company had resolved
to issue new common stock and preferred shares by third party
allocation in order to secure the necessary capital and funding
needed to achieve the business plan set out in the Mitsubishi
Motors Revitalization Plan. On March 10, 2005, the company
received a total payment of approximately 274 billion yen for
the issuance of the aforementioned common stock and preferred
shares.
The issuing of new common stock and having received payment has
brought about a change in principal shareholders.

2. Affected Shareholders:

   (1) Companies which have become principal shareholders

       A. Mitsubishi Heavy Industries, Ltd.
       B. Mitsubishi Corporation, Ltd.

   (2) Companies which have been removed as principal
shareholders

       A. Phoenix Capital Partners One, Ltd.


3. Comparison of voting shares held by affected shareholders

   (1) Companies which have become principal shareholders

Company Name           Ownership of voting shares   Current
                                                   Ownership
                       Before1       After2         Ranking




Mitsubishi
Heavy Industries, Ltd. 219,871        580,683          1
                       (8.30%)        (13.69%)

Mitsubishi
Corporation, Ltd.      77,354         571,065          2
                       (2.92%)        (13.47%)

(Note 1) The above figure for ownership before the change
occurred is based on ownership as of September 30, 2004.
(Note 2)  Total outstanding shares as of March 10, 2005:
4,240,759,919 shares.

  (2) Companies which have been removed as principal
shareholders

Company Name           Ownership of voting shares   Current
                                                   Ownership
                       Before1       After2         Ranking
                                (as of Jan20, 2005)


Phoenix Capital
Partners One, Inc.    300,000        300,000           2
                      (11.33%)       (9.98%)

Phoenix Capital
Partners One, Inc.    300,000         300,000          4
                      (9.30%)         (7.07%)

(Note 1) The above figure for voting share ownership before the
change occurred is based on ownership as of September 30, 2004.
However, the total number of outstanding common stock has been
increasing as outstanding preferred shares are converted into
common stock. As a result, on January 20, 2005, Phoenix Capital
Partners One ceased being a principal shareholder.

(Note 2)  Total outstanding shares as of March 10, 2005:
4,240,759,919 shares


SOJITZ HOLDINGS: Pegs Commodities Loss at JPY18 Bln
---------------------------------------------------
Sojitz Holdings Corporation said it lost JPY18 billion (US$172.8
million) from commodities trading, widening its preliminary
forecast of JPY16 billion, Reuters reports.

The debt-laden firm said the loss was linked to trading and
aluminum on the London Metal Exchange that appeared to have
breached internal risk control rules.

The company on Wednesday initially estimated JPY16 billion from
commodity trading, triggering a nearly 11 percent fall in its
shares the following day.

Sojitz, created in 2003 through the merger of two traders, said
it did not plan to revise its group earnings forecast for the
business year ending this month despite the losses.

The company added it had set up a committee, including an
outside lawyer, to investigate the matter.

CONTACT:

Sojitz Holdings Corporation
1-20 Akasaka 6-chome, Minato-ku
Tokyo, 107-8655, Japan
Phone: +81-3-5446-3600
Fax: +81-3-5446-1542
Web site: http://www.sojitz-holdings.com


SOJITZ HOLDINGS: Moody's Changes Unit's Outlook to Stable
---------------------------------------------------------
Moody's Investors Service has revised the rating outlook of
Sojitz Corporation (Sojitz), a core unit of Sojitz Holdings
Corporation, to stable from positive.

The senior unsecured debt ratings of Sojitz at Ba2 and its
subsidiaries that are supported by keepwell agreements at Ba3
are affirmed. This action is in response to Sojitz Holdings
Corporation's announcement that it has mark-to-market (MTM)
losses of about JPY16BN in connection with its commodity trades.

Moody's is concerned about the revealed lack of internal control
at Sojitz that occasioned such large MTM losses. In light of the
diverse risks taken by Sojitz as a Japanese trading company and
its nature as a non-regulated entity, self-disciplined risk
management aimed at maintaining confidence in management is an
integral component of its rating.

The affirmation of Sojitz's rating is prompted by the relatively
limited impact the reported expected losses should have on its
recapitalized capitalization, as well as Moody's positive
evaluation of its planned implementation of balance sheet risk
reduction measures and expectation that main bank support from
UFJ Bank Limited, the Bank of Tokyo-Mitsubishi Ltd. and Mizuho
Corporate Bank Ltd. -- which has been behind the ongoing balance
sheet improvement initiatives -- will remain unchanged.

Moody's believes that Sojitz's three-year business plan will not
be particularly negatively affected if it can minimize its loss
of market confidence.

Sojitz's ratings will be reviewed for possible downgrade if its
final losses turn out to be substantially larger than currently
reported mark-to-market figures or there are signs of
deterioration in main bank support that could negatively affect
its financial operations.

The following ratings are affirmed.

Sojitz Corporation: unsecured senior debt rating at Ba2

Sojitz UK plc: unsecured senior debt rating at Ba3

Sojitz International Finance Cayman Ltd.: unsecured senior debt
rating at Ba3

Sojitz Corporation is one of the Japanese trading companies.


TOSHIBA CORPORATION: Readies Latest Technologies for CeBIT 2005
---------------------------------------------------------------
Toshiba Corporation announced that a special "Innovation Corner"
at its booth at CeBIT 2005 would spotlight the company's latest
advances in mobile terminals, network systems and audio visual
technologies.

The diverse technologies and systems on display will demonstrate
Toshiba's commitment to excellence and innovation in information
processing, image processing and electronic devices and
components.

Major Exhibits

1) Detachable Display

Networks offer ubiquitous connectivity. Toshiba adds comfort and
convenience

Toshiba's detachable display adds a new level of freedom to
personal computing, especially when it's configured as a stylus-
operated touch screen supporting handwriting recognition.
Attached to its base, the detachable display is part of a
powerful notebook PC. Separated, it's light and ultra-portable,
and, like a good book, allows the user to curl up in a
comfortable place -- and still stay productive. It's also
perfect for sales presentations and meetings, especially one-on-
one, as the display can be handed from person to person, and
documents and presentations edited as the display circulates.
Thanks to the IEEE802.11b wireless connectivity built into the
prototype detachable display, all on-screen updates are
processed and displayed in real time.

2) Home AV Network

Toshiba's home network makes the living easy, whatever the
season

As broadband networks and digital devices sweep into the home,
Toshiba is in the forefront of linking them seamlessly in an
interoperable network. Visitors to CeBIT can see how easy it can
be to share music, video and pictures, in a three-part
demonstration of watching TV programs wirelessly on a PC;
control of AV applications from a Bluetooth(TM) enabled mobile
phone; and playback on a TV of music, photo and movie files
stored in a PC.

Toshiba supports the Digital Living Network Alliance (DLNA) in
its work to develop design guidelines and an open standard for
home networks of digital consumer products. The Home AV Network
follows DLNA guidelines to achieve a powerful, flexible network
that adds to quality of life.

3) Direct Methanol Fuel Cell (DMFC) for Notebook PCs

Ultra-portable power solution for the age of ubiquitous
connectivity

Toshiba's global leadership in fuel cells is embodied in the
prototype direct methanol fuel cell (DMFC) powering a PORTEGE
M300, B5-sized notebook PC. The DMFC runs on a methanol-oxygen
fuel mix, and generates and supplies power directly to the PC.
With an energy density up to five times that of a typical
lithium-ion battery, the DMFC delivers much longer continuous
operation.

Methanol in a fuel cell delivers power most efficiently when
mixed with water in a 3 to 6% methanol concentration -- a level
requiring a fuel tank that is much too large for use with
portable equipment. Toshiba's system uses methanol at a higher
concentration, diluting it with water produced as a by-product
of the power generation process. Methanol can be stored at a
much higher concentration, in a fuel tank less than one-tenth
the size of that required for a 3 to 6% concentration.

4) HD DVD Player

Superb high definition images, excellent sound, and full
backward compatibility

HD DVD is the next-generation optical-disc standard that will
bring high-definition recorded content into the home. Developed
and supported by the DVD Forum, the industry alliance of over
230 companies from the CE, IT and content provision sectors, HD
DVD's innovations include higher resolution video and audio, a
suite of disc capacities for longer and shorter programs,
advanced navigation, web connectivity and interactivity, plus
the robust content protection technology that is a must for
content providers. A single, dual-layer HD DVD-ROM disc offers
30 gigabytes of capacity, space enough for much as eight hours
of high-definition movie content. And as HD DVD is based on the
same physical disc structure as standard DVD, disc and hardware
production are cost efficient, and it is easy to achieve
backward compatibility with today's DVD.

Detailed information, including press releases and digital
images of HD DVD products, are available online at the official
site of the HD DVD Promotion Group: http://www.hddvdprg.com

5) HD DVD Slim Drive for PCs (Toshiba Samsung Storage Technology
Corporation)

The brilliance of HD DVD in a slim profile PC drive

Toshiba delivers HD DVD on the go with a multi-format slim line
HD DVD drive that can read HD DVD, standard DVD and CD and write
to certain DVD and CD. Developed by Toshiba Samsung Storage
Technology Corporation, an optical-drive joint venture between
Toshiba Corporation and Samsung Electronics Co., the drive will
bring next generation high definition DVD to notebook PCs, while
assuring the backward compatibility essential for users to
continue to use libraries of application software on DVD and CD.

CONTACT:

Toshiba Corporation
1-1 Kanda-Nishikicho
Chiyoda-Ku 101-8442, Tokyo 101-8442
Japan
Phone:  +81 3 3292 1011
Fax: +81 3 3292 6440
Web site: http://www.toshiba.com


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

JINRO LIMITED: KRW70-Bln Downpayment Scares Creditors
-----------------------------------------------------
Bidders for embattled Jinro Limited claim the KRW70-billion
downpayment demanded by Jinro lead manager Merrill Lynch, the
Korea Times reports.

This is the largest down payment for the takeover of a Korean
firm, and Merrill Lynch supposedly required such down payment to
avoid a sale break.

Analysts said that some bidders for Jinro are having second
thoughts about bidding, as the down payment will not be returned
if a bid is abandoned after the selection of the preferred
bidder.

But Jinro insisted the down payment is reasonable, since it is
5% of the expected bid price of KRW3.6 billion, which is common
in a merger and acquisition (M&A) deal.

With the Company's sales up 15 % to KRW740.6 billion last year,
a reduced debt of KRW2.78 trillion from KRW2.99 trillion and a
33 % increase in operating profit up to KKr223.2 billion, it is
still an attractive target, but industry watchers say the down
payment is just too high.

Selection of preferred bidders is most likely to begin in July;
bid proposals are due at the end of this month.

CONTACT:

Jinro Limited
1448-3 Seocho-dong Seocho-gu
Jinro Bldg
Seoul, SEOUL 137-866
South Korea
Phone: +82 2 520 3114
Fax:   +82 2 520 3453
Web site: http://www.jinro.co.kr/


SAMSUNG CARD: Parent Keen on Taking New Shares
----------------------------------------------
Samsung Electronics Co. Ltd. has decided to buy shares amounting
to KRW558 billion issued by troubled affiliate Samsung Card,
Reuters News reports.

In order to raise capital, Samsung Card earlier planned a rights
issue worth KRW1.2 trillion. Last year, major shareholder
Samsung Electronics helped the credit card firm fill a shortage
in its cash flow with the KRW600 billion purchase of new shares.

Investors have criticized companies' bailouts of struggling
affiliates, because they were adversely affecting minority
shareholders. According to analysts, this practice has revived
some management practices that brought forth a financial crisis
a decade earlier.


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

AKTIF LIFESTYLE: Bourse Grants Extension Application
----------------------------------------------------
Aktif Lifestyle Corporation Berhad refers to its announcement
dated Jan. 28, 2005 on its proposal pursuant to Section 5.1(b)
of Practice Note No. 10/2001 (PN10), issued in relation to
Paragraph 8.16 of Bursa Malaysia Securities Berhad (Bursa
Securities) Listing Requirements.

Aktif Lifestyle Corporation Berhad announced that Bursa
Securities has, via its letter dated March 10, 2005, granted the
Company an extension of time from March 14, 2005 to May 16, 2005
to make the required Requisite Announcement (originally due on
March 14) to Bursa Securities for public release.

CONTACT:

Aktif Lifestyle Corporation Berhad
Level 10, Grand Seasons Avenue, No. 72,
Jalan Pahang, 53000 Kuala Lumpur
Malaysia
Phone: (60) 3 2693 1828
Fax:   (60) 3 2691 2798

This announcement is dated March 10, 2005.


BELL & ORDER: Served with Winding Up Petition
---------------------------------------------
Bell & Order Berhad announced that it had on March 7, 2005 been
served with a winding up petition under Section 218 of the
Companies Act, 1965 by Dewantron Sdn. Berhad.

The winding up petition is scheduled for hearing on April 8,
2005.

CONTACT:

Bell & Order Berhad
28 & 30, Jalan PJS 11/14
Bandar Sunway, Petaling Jaya
46150 Malaysia
Phone: 03 - 56336966
Fax:   03 - 56345081


FABER GROUP: Granted Listing of Additional Shares
-------------------------------------------------
Faber Group Berhad's additional 40,000 new ordinary shares of
RM1.00 each arising from the Conversion of RM80,000 nominal
value of 2000/2005 irredeemable convertible unsecured loan
stocks into 40,000 new ordinary shares will be granted listing
and quotation effective Tuesday, March 15, 2005, 9:00 a.m.

CONTACT:

Faber Group Berhad
20th Floor, Menara 2 Faber Towers,
Jalan Desa Bahagia, Taman Desa
Off Jalan Klang Lamas
58100 Kuala Lumpur
Malaysia
Phone: 03-76282888
Fax:   03-76282828


INNOVEST BERHAD: Still Seeks to Regularize Financial Condition
--------------------------------------------------------------
Further to the Company's announcement made on Feb. 2, 2005,
Innovest Berhad announced that there are no material changes to
the status of the Company's plan to regularize its financial
position.

CONTACT:

Innovest Berhad
2 Lorong Dungun Kiri Damansara Heights
Kuala Lumpur, Kuala Lumpur 50490
Malaysia
Phone: +60 3 2093 3373
Fax:   +60 3 2094 3733


KAI PENG: Completes Corporate Exercises
---------------------------------------
Further to the announcements released on Sept. 16, 2004 and Jan.
26, 2005, and following the listing and quotation of Kai Peng
Berhad shares issued pursuant to the Acquisition and renounced
pursuant to the Profit Guarantee Compensation (of Maju Steel Sdn
Berhad and guaranteed profit before taxation of Maju Egatt Sdn
Berhad) on March 10, 2005, the Company announced that its
Corporate Exercises (including the acquisition of 18 units of 1
story terraced factories and 1 unit of 1 story semi-detached
factory from Premier Tube Sdn Berhad) have been completed.

CONTACT:

Kai Peng Berhad
2nd Floor, Bangunan Palm Grove
No. 14 Jalan Glenmarie (Persiaran Kerjaya)
Section U1, 40150 Shah Alam
Selangor Darul Ehsan
Malaysia
Phone: 03-55685000
Fax:   03-55685027
Web site: http://www.kaipeng.com

This announcement is dated March 10, 2005.


LION INDUSTRIES: To List More Shares Today
------------------------------------------
Lion Industries Corporation Berhad's additional 216,000 new
ordinary shares of RM1.00 each issued pursuant to the Company's
Executive Share Option Scheme are granted listing and quotation
effective Monday, March 14, 2005, 9:00 a.m.

CONTACT:

Lion Industries 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


MECHMAR CORPORATION: Divests Interest to Ranhill Power
------------------------------------------------------
Mechmar Corporation (Malaysia) Berhad announced that the Company
had on March 10, 2005 entered into a conditional sale and
purchase agreement with Ranhill Power Berhad in relation to the
proposed disposal of its entire equity interest in Independent
Power Tanzania Limited (IPTL) representing 70% of the issued and
paid-up capital of IPTL.

The details of the Proposed Disposal will be announced in due
course.

CONTACT:

Mechmar Corporation (Malaysia) Berhad
HICOM-Glenmarie Industrial Park
Shah Alam, Selangor Darul Ehsan 40150
Malaysia
Phone: +60 3 5569 2828
Fax:   +60 5569 1316

This announcement is dated March 10, 2005.


MECHMAR CORPORATION: Trading in Shares Suspended
------------------------------------------------
At the request of Mechmar Corporation (Malaysia) Berhad, trading
in its shares were suspended on Thursday, March 10, 2005, 11:19
a.m.

Please refer to the Company's announcement dated March 10, 2005.


PANTAI HOLDINGS: Buys Back 35,900 Shares
----------------------------------------
Pantai Holdings Berhad disclosed details of its shares buy back
on March 10, 2005 to the Bursa Malaysia Securities Berhad.

Date of buy back: 10/03/2005

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

Total number of shares purchased (units): 35,900

Minimum price paid for each share purchased (RM): 0.975

Maximum price paid for each share purchased (RM): 1.010

Total consideration paid (RM): 35,891.18

Number of shares purchased retained in treasury
(units):  35,900

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

Cumulative net outstanding treasury shares as at to-date
(units): 27,981,100

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

CONTACT:

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


POS MALAYSIA: Set to List New Ordinary Shares
---------------------------------------------
Pos Malaysia & Services Holdings Berhad's additional 284,000 new
ordinary shares of RM1.00 each issued pursuant to the Company's
Employee Share Option Scheme are granted listing and quotation
on Monday, March 14, 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


RHB CAPITAL: Transfers Islamic Business to RHB Islamic Bank
-----------------------------------------------------------
Further to the Company announcements dated July 15, 2004, Nov.
24, 2004, Feb. 2, 2005 and March 1, 2005, RHB Capital Berhad
announces that a vesting order was obtained from the Kuala
Lumpur High Court on March 8, 2005, the sealed order of which
has been extracted from the same court earlier today for the
transfer and vesting of the Islamic banking business of RHB Bank
Berhad to RHB Islamic Bank.

The said vesting order was obtained following a joint
application by RHB Bank and RHB Islamic Bank pursuant to Section
50 of the Banking and Financial Institutions Act, 1989 (BAFIA)
to give full effect to the business transfer agreement which was
executed by RHB Bank Berhad and RHB Islamic Bank on March 4,
2005 for the Transfer and Vesting, after receipt of approval
from the Minister of Finance through Bank Negara Malaysia via
letter dated March 3, 2005 and the Banking and Financial
Institutions (Exemption) Order 2005 made on Feb. 26, 2005
pursuant to Section 118(4) of BAFIA.

Therefore, as provided under the said business transfer
agreement, the Transfer and Vesting shall take effect on March
16, 2005 whereupon all assets and liabilities comprised in the
Islamic banking business of RHB Bank as at the cut-off date of
March 15, 2005 will be transferred and vested to RHB Islamic
Bank. In consideration thereof, RHB Islamic Bank will issue
ordinary shares of RM1.00 each equal to the net book value of
the assets less the liabilities of the Islamic banking business
of RHB Bank as at the said cut-off date.

The grant of the said vesting order will enable RHB Islamic Bank
to start its business operations on March 16, 2005, with the
Islamic banking business of RHB Bank duly transferred and vested
in the said Islamic bank. Therefore, Islamic banking customers
of RHB Bank shall be customers of RHB Islamic Bank from the said
date.

The vesting order will be advertised in an English and a Bahasa
Malaysia newspaper respectively pending approval from Bank
Negara Malaysia.

CONTACT:

Rhb Capital Berhad
Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Phone: +60 3 9287 8888
Fax:   +60 3 9280 6507

This announcement is dated March 10, 2005.


TALAM CORPORATION: Notes Additional Shares Listing
--------------------------------------------------
Talam Corporation Berhad's additional 228,535 new ordinary
shares of RM1.00 each issued pursuant to the Company's
conversion of 2,285,359 irredeemable convertible preference
shares 2004/2009 into 228,535 new ordinary shares are granted
listing and quotation on Monday, March 14, 2005, 9:00 a.m.

CONTACT:

Talam Corporation Berhad
5th Floor, Wisma Talam
52 Jalan Kampung Attap
50460 Kuala Lumpur, WP
Malaysia
Phone: 603-2732222
Fax:   603-2731439


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

BENPRES HOLDINGS: Lopez Provides Copy of SEC Form 23-B
------------------------------------------------------
Lopez, Inc., a principal shareholder of Benpres Holdings
Corporation (BPC), furnished the Philippine Stock Exchange a
copy of its SEC Form 23-B (Statement of Changes in Beneficial
Ownership of Securities), reporting changes in its shareholdings
for the month of February 2005.

A copy of the said document shall be made available for
reference at the PSE Centre 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).

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Benpres Holdings Corporation
4/F, Benpres Building
Exchange Road corner Meralco Avenue
Ortigas Center, Pasig City
Phone No:  633-3368
Fax No:  634-3009
E-mail Address: jr_benpres@bayantel.com.ph
Web site: http://www.benpres-holdings.com


PHILIPPINE LONG: Posts Beneficial Ownership Statements
------------------------------------------------------
Philippine Long Distance Telephone Company (TEL) furnished the
Exchange copies of the 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 the following officers for the month of
February 2005:

(1) Mr. Ramon Alger P. Obias   - Vice President
(2) Mr. Eriberto B. Gesalta    - First Vice President
(3) Ms. Miguela F. Villanueva  - First Vice President

Copies of the said documents shall be made available at
http://www.pse.com.ph(under Listed Companies).

Further, the Company, in its letter dated March 9, 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 12.925874% of the total outstanding common
shares of the Company, as compared to previous month of
12.925936%."

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

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


PHILIPPINE LONG: Set to List More Shares Today
----------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone
Company (the Company) to list additional 1,289,745 common
shares, with a par value of Php5.00 per share, to cover the
Executive Stock Option Plan (ESOP) of the Company, at an
exercise price of Php814.00 per share.

In this connection, please be advised that a total of 5,635
common shares have been availed of and fully paid by the
optionees under the Company's ESOP.

In view thereof, the listing of the 5,635 common shares is set
for Monday, March 14, 2005. This brings the number of common
shares listed under the ESOP to a total of 393,613 common
shares.

The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.

For your information and guidance.

CLAUDINE E. CRUZ
OIC, Listing Department

Noted by:

JURISITA M. QUINTOS
Senior Vice President


PILIPINO TELEPHONE: Jumps Into Unlimited Call/Text Bandwagon
------------------------------------------------------------
Pilipino Telephone Corporation (Piltel) and Smart Communications
have followed the lead of its rivals by launching its own
version of unlimited voice service, reports Today News.

The National Telecommunications Commission (NTC) has approved
Piltel's promotional unlimited call and text service that will
run for 30 days. The promo rates will start from as low as Php60
for six days and Php115 for 10 days.

Smart and PILTEL's 25/8 unlimited voice call service is a
response of the PLDT group to the unlimited intra-call and text
services offered by rival Touch Mobile.

Following the lead of Sun Cellular's 24/7 unlimited call and
text pricing scheme, Touch Mobile, the cellular unit of Innove
Communications Inc., started offering last week unlimited call
and text services for Php300 a month and unlimited text
messaging for P50 for five days. The offer is limited only to
Touch Mobile subscribers for 30 days until April 7.

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


QUEZON POWER: Moody's Confirms B3 Debt Rating
---------------------------------------------
Moody's Investors Service has confirmed Quezon Power
(Philippines) Limited Co.'s (QPL) B3 debt rating. The outlook is
stable. This concludes the review for possible upgrade initiated
on November 26, 2004.

Moody's says that the confirmation of the rating reflects the
weak financial position of the project's off-taker - Meralco,
despite the sound operating and financial profiles of Quezon.
While Meralco has successfully drawn a US$228 million 7-year
secured debt facility to refinance its debt obligations, its
financial position remains fragile, overshadowed by various key
issues.

Any adverse development regarding these issues could profoundly
and negatively impact Meralco's creditworthiness. Nevertheless,
Moody's believes there is a tendency for Meralco to continue
honoring its obligations to Quezon in order to generate income
for the former's debt servicing.

Moody's notes that Meralco has yet to pay the last phase of a
Supreme Court-ordered customer refund of Php18 billion. The
refund schedule for this amount has not yet been finalized.
Moreover, the Court of Appeals has over-ruled a P0.17/kwh tariff
increase approved by the Energy Regulatory Commission (ERC) in
June 2003.

Moody's understands Meralco will appeal the case to the Supreme
Court. Although Meralco continues to charge higher rates, it
faces the risk that it will eventually have to refund previous
additional charges to customers as well as terminate the hikes.
Furthermore, uncertainties continue to surround Meralco's
ability to pass through NPC settlement payments and potential
payment of gas true-up obligations.

In regard to QPL, Moody's notes that it remains in discussion
with Meralco regarding various adjustments to the 3rd Power
Purchase Agreement (PPA) Amendment, but neither side has arrived
at a final decision, and that uncertainties therefore remain. At
the same time, the rating agency adds that - notwithstanding the
renegotiation of the PPA - electricity payments from Meralco to
QPL remain current. QPL's liquidity position is moderate
following its cash dividend distribution last year but supported
by a 6-month Debt Service Reserve LC.

Upward rating pressure could evolve for QPL if Meralco's
financial position improves significantly, while the project
continues to maintain debt service coverage ratio (DSCR) of over
1.25x.

Downward rating pressure could result if: 1) QPL experiences
problems in receiving payments from Meralco, which in turn
affects its ability to honor its debt obligations in a timely
fashion; or 2) contract renegotiations result in a significant
weakening of QPL's cash flow, such that the project's DSCR falls
below the minimum covenant of 1.25x.

Quezon Power (Philippines) Limited Co. is an electricity-
generating company whose sole asset is a 460MW net (based on
2004 Net Dependable Capacity Test) base-load pulverized coal-
fired facility in Quezon, Philippines.


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

ACCORD CUSTOMER: Delays Refurbishment Service Agreement
-------------------------------------------------------
Further to the announcement made by Accord Customer Care
Solutions Limited on February 18, 2005, the Board of Directors
of the Company advised the Singapore Stock Exchange (SGX) that
in connection with the refurbishment services agreement dated 18
February 2005 (Refurbishment Service Agreement) entered into
between CSG Holdings Limited (CSG) and Accord Customer Care
Solutions International Limited (ACCS International), both CSG
and ACCS International have mutually agreed to delay the
commencement of the Refurbishment Service Agreement.

The Refurbishment Service Agreement will commence at a later
date to be agreed between ACCS International and CSG, pending
the outcome of investigations being conducted on the Company.

By Order of the Board

Woo Kah Wai
Company Secretary
March 10, 2005
Singapore

CONTACT:

Accord Customer Care Solutions Limited
20 Toh Guan Road #07-00
Accord Distri Centre
Singapore 608839
Telephone: 65 64102600
Fax: 65 64102610
Web site: http://www.accordccs.com


KOH BROTHERS: Agrees to Extend Deadline on Waiver of Conditions
---------------------------------------------------------------
Further to the announcement made by Koh Brothers Group Limited
dated August 25, 2004, October 19, 2004, October 20, 2004,
November 1, 2004 and November 26, 2004 relating to the proposed
joint venture between the Company and G&W, the board of
directors of the Company advised the Singapore Stock Exchange
that the Company and G&W have agreed in writing to extend the
deadline for the fulfillment or waiver of the conditions
precedent in Clause 4(B) of the JVA to May 24, 2005 or such
later date as the Company and G&W may subsequently agree to in
writing.

Save for the Extension, all other provisions of the JVA shall
remain in full force and effect.

By Order of the Board
Koh Brothers Group Limited
Koh Tiak Chye
Chief Executive Officer and Managing Director

CONTACT:

Koh Brothers Group Limited
11 Lorong Pendek
Koh Brothers Building
Singapore 348639
Telephone: 65 62898889
Fax: 65 68415400
Web site: http://www.kohbrothers.com


KOH BROTHERS: Updates Ratio of Capital Distribution
---------------------------------------------------
Further to the announcements made by Koh Brothers Group Limited
on February 21, 2005, February 22, 2005 and February 24, 2005,
the Board hereby announces that for every 1,000 KBGL Shares held
by a Shareholder as at 5:00 p.m. on March 10, 2005, being the
Books Closure Date, an aggregate of 167 G&W Shares will be
distributed.

The calculation of the number of G&W Shares to be distributed to
each Shareholder for every 1,000 KBGL Shares pursuant to the
Capital Distribution, fractional entitlements to be disregarded,
is as follows:

G&W Shares to be distributed pursuant to the Capital Reduction:
37 G&W Shares

G&W Shares to be distributed pursuant to the Franked Dividend
Distribution: 60 G&W Shares

G&W Shares to be distributed pursuant to the One-Tier Exempt
Dividend Distribution: 70 G&W Shares

Total number of G&W Shares: 167 G&W Shares

Barring any unforeseen circumstances, the G&W Shares will be
credited to all Shareholders' Securities Accounts by CDP on
March 18, 2005.

By Order of the Board
Koh Brothers Group Limited
Koh Tiak Chye
Chief Executive Officer and Managing Director
March 10, 2005


NISON INDUSTRIAL: Faces Winding Up Proceedings
----------------------------------------------
In the Matter of Nison Industrial and Commercial Pte Ltd. a
winding up order was made on February 25, 2005.

Name and address of Liquidator:

The Official Receiver
Insolvency & Public Trustee's Office
45 Maxwell Road #05-11/#06-11
The URA Centre (East Wing)
Singapore 069118

Dated this 25th day of February 2005

Rajah & Tann
Solicitors for the Petitioner

Note:

(a) All creditors of the abovenamed company should file their
proof of debt with the liquidator who will be administering all
affairs of the company.

(b) All debts due to the abovenamed company should be forwarded
to the liquidator.


PARISON SYSTEM: To Undergo Winding Up Process
---------------------------------------------
In the matter of Parison System Pte. Ltd. a winding up order was
made on February 25, 2005.

Name and address of Liquidator:

The Official Receiver
Insolvency & Public Trustee's Office
45 Maxwell Road #05-11/#06-11
The URA Centre (East Wing)
Singapore 069118

Dated this 25th February 2005

Tan Seck Sam & Partners
Solicitors for the Petitioner

Note:

(a) All creditors of the abovenamed company should file their
proof of debt with the liquidator who will be administering all
affairs of the company.

(b) All debts due to the abovenamed company should be forwarded
to the liquidator.


STARTECH ELECTRONICS: Appoints New Company Secretary
----------------------------------------------------
The Board of Directors of Startech Electronics Ltd advised the
Singapore Stock Exchange (SGX) that Ms Foo Soon Soo has been
appointed as the Company Secretary in place of Ms Lotus Isabella
Lim Mei Hua and Ms Julie Chin Lee Nah with effect from March 9,
2005.

The Board wishes to thank Ms Lotus Isabella Lim Mei Hua and Ms
Julie Chin Lee Nah for their services to the Company.

Woo Kah Wai
Company Secretary
March 10, 2005

CONTACT:

Startech Electronics Ltd
11 Collyer Quay
The Arcade #13-01
Singapore 049317
Telephone: 65 62200762
Fax: 65 62202839
Web site: http://www.startechgrp.com


U.D. INTER-OCEAN: Court to Hear Petition April 1
------------------------------------------------
Notice is hereby given that a petition for the winding up of
U.D. Inter-Ocean Pte. Ltd. by the High Court was, on February 1,
2005 presented by Inter Power Engineering Pte Ltd (RC No.
199406019G), a company incorporated in the Republic of Singapore
and having its registered office at 20 Ang Mo Kio Industrial
Park 2A, #03-14/15 AMK Tech Link, Singapore 567761, a judgment
creditor.

The said petition is to be heard before the Court sitting at the
High Court in Singapore at 10:00 a.m. in the forenoon, on April
1, 2005.

And any creditor or contributory of the said Company desiring to
support or oppose the making of an order on the said 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 said Company requiring the same by the
undersigned on payment of the regulated charge for the same.

The Petitioner's address is at 20 Ang Mo Kio Industrial Park 2A,
#03-14/15 AMK Tech Link, Singapore 567761.

The Petitioner's solicitors are Messrs Tan Kim Seng & Partners
of 101 Cecil Street, #18-01/05 Tong Eng Building, Singapore
069533.

Messrs Tan Kim Seng & Partners
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the above-named Messrs
Tan Kim Seng & Partners of 101 Cecil Street, #18-01/05 Tong Eng
Building, Singapore 069533, 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 or firm, or his or their solicitor (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 twelve o'clock noon
of March 31, 2005.


UNIGLO CUISINE: Faces Winding Up Proceedings
--------------------------------------------
In the Matter of Uniglo Cuisine Pte Ltd (RC No. 200303660C) a
winding up order was made on February 25, 2005.

Name and address of Liquidator:

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

(a) All creditors of the abovenamed company should file their
proof of debt with the Liquidator who will be administering all
affairs of the company.

(b) All debts due to the abovenamed company should be forwarded
to the Liquidator.

Drew & Napier Llc
Solicitors for the Petitioner


WEARNES INTERNATIONAL: Malaysian Units Liquidated
-------------------------------------------------
Wearnes International (1994) Limited advised to the Singapore
Stock Exchange (SGX) that its 51 percent held subsidiaries, CT
Cauldron Sdn Bhd and CTC Systems Integration Sdn Bhd, both are
dormant companies incorporated in Malaysia, have been
voluntarily liquidated.

CONTACT:

Wearnes International (1994) Limited
45 Leng Kee Road
159103
Singapore
Telephone: +65 6471 6288
Fax: +65 6472 0009


W&P MANAGEMENT: Proofs of Debt, Claim Due April 5
-------------------------------------------------
Notice is hereby given that the creditors of W&P Management
Services Co Pte Ltd (In Member's Voluntary Liquidation), which
is being wound up voluntarily are required on or before April 5,
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 is,
by their solicitors or personally, to come in and prove their
debts or claims at such time and places 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 4th day of March 2005

Timothy James Reid
Liquidator
50 Raffles Place
#16-06 Singapore Land Tower
Singapore 048623


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

BANGKOK STEEL: Trading of Securities Still Suspended
----------------------------------------------------
A notice pending sign (NP) was posted against Bangkok Steel
Industry Public Company Limited (BSI) on March 2, 2005 due to
its failure to submit the audited financial statement as of
December 31, 2004 on the date and time specified by the Stock
Exchange of Thailand (SET).

Presently, BSI has submitted the above-mentioned financial
statement.  However, BSI's auditor issued a disclaimer of
opinion on the financial statements, which could be considered
that BSI's financial statements do not reflect its actual
business performance.  Moreover, the Securities and Exchange
Commission (SEC) would require BSI's financial statements
amendment.

Therefore, the SET has posted the SP (Suspension) sign for
suspended trading on BSI's securities on March 9, 2005 to enable
shareholders and general investors to have sufficient time to
scrutinize auditors' reports relating to the results in
financial statements including the company 's clarification.

However, the SET will post the NP sign from March 10, 2005 until
such time as the company will submit the amended financial
statements or it is concluded that such the amendment is not
necessary.

Nevertheless, the SET has still suspended trading all securities
of BSI until the causes of delisting are eliminated.

CONTACT:

Bangkok Steel Industry Public Company Limited
United Flour Mill Bldg,
205 Rajawong Road,
Samphanthawong Bangkok
Telephone: 0-2226-0088, 0-2226-0680, 0-2226-6120-29
Fax: 0-2224-7698, 0-2222-7497
Website: http://www.bangkoksteel.co.th


THAI GERMAN: Releases Audited Yearly FS
---------------------------------------
Thai-German Products Public Company Limited submitted to the
Stock Exchange of Thailand (SET) a summary of its audited yearly
financial statement for the year ended December 31, 2004.

Audited Yearly FS
(In thousands) Ending 31 December 2004

                      For year          Year
2004              2003

Net profit (loss)     6,063,876         (499,095)

EPS (baht)                62.10           (26.55)

Auditors Opinion: Unqualified Opinion with an emphasis of
matters

Comment: Please see details in financial statements, auditor's
report and remarks from SET SMART.

"The company hereby certifies that the information above is
correct and complete. In addition, the company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

Mr.Apinun Ratchatasombat
Authorized to sign on behalf of the company

CONTACT:

Thai-German Products Pcl
99 Huaypong-Nongbon Road,
Tambol Huaypong, Amphur Muang Rayong
Telephone: 0-3868-4901-5
Fax: 0-3868-4906
Website: http://www.tgpro.co.th




                            *********


S U B S C R I P T I O N  I N F O R M A T I O N

Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey
Resnick, Faith Marie Bacatan, Reiza Dejito, and Erica Fernando,
Editors.

Copyright 2005.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.  Information
contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

The TCR -- Asia Pacific subscription rate is $575 for 6 months
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***