TCRAP_Public/050315.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

             Tuesday, March 15, 2005, Vol. 8, No. 52

                            Headlines

A U S T R A L I A

ACCAUD PTY: To Convene Final Meeting Today
ATCALL CRANES: Members Resolve to Wind Up Company
CD MASON: Members, Creditors To Meet Today
COMPASS PATIENT: AGM Set March 16
E&A INTERNATIONAL: Liquidator to Report Conduct of Winding Up

ELHAM FINANCIAL: Court Issues Winding Up Order
EMERSON OLIVER: To Declare Dividend March 31
GOLF AMUSEMENT: Picks Liquidator to Wind Up Company
GREENWORLD MARKETING: Final Meeting Set Today
LUDY & LAU'S: Liquidator to Explain Winding Up Manner

MIRVICH PTY: Members Pass Resolution to Wind Up Company
MULTIPLEX: Wins U.K. Hospital Project
NAILON INVESTMENTS: To Undergo Voluntary Liquidation
NARGOL HOLDINGS: To Hold Final Meeting March 17
PC-DIRECT PTY: Court Names G.S. Andrews as Liquidator

QANTAS AIRWAYS: Strikebreakers Brace for Action
ROBINSON TOWNS: Sets March 16 as Date of Final Meeting
SALCORP SERVICES: To Convene Final Meeting March 18
SANTOS LIMITED: Unveils Dividend Reinvestment Plan
SIMPLY WATER: Members, Creditors to Meet March 17

SRC GROUP: To Pay Dividend March 17
TLP PTY: Faces Winding Up Proceedings
TOWER SUPERB: ASIC Approves Trust Refund
TURFGRASS TECHNOLOGY: Sets Final Meeting on March 21
WALTER CONSTRUCTION: Management Buy-out Could Save Mining Arm


C H I N A  &  H O N G  K O N G

CELOSMARINE LIMITED: Annual Meeting Schedule Fixed March 31
CHINA UNITED: Requests Suspension of Trading
COSELSALVAGE LIMITED: To Hold Annual Meeting March 31
JINHUI HOLDINGS: AGM Set April 12
JETKO INDUSTRIES: Court to Hear Winding Up Petition April 6

MIDLAND REALTY: Proposes to Change Name to Midland Holdings
PASSION FOR PRAISE: Winding Up Hearing Slated for April 27
SUN SPORTS: Clarifies Unusual Volume Movement


I N D O N E S I A

BANK PERMATA: Moody's Considers Possible Upgrade
DIRGANTARA INDONESIA: Land Dispute May Hurt Business
PERTAMINA: Goldman Sachs Challenges Court Ruling
SEMEN GRESIK: States Seeks Out-of-Court Settlement with Cemex


J A P A N

DAIEI INCORPORATED: May Quit Hokkaido, Tohoku Ops
DAIEI INCORPORATED: Turnaround Program Set for Review
KOBE STEEL: Ups Earnings Forecast for Fiscal 2004
TOWA CORPORATION: R&I Affirms BBB-: Towa Corp. Senior L-T Debt
* Corporate Bankruptcies Down for 26th Straight Month


K O R E A

LG CARD: Interested Buyer Thinks Value is "Too High"
    

M A L A Y S I A

ANTAH HOLDINGS: Failed to Meet Bursa Malaysia Requirements
BUKIT KATIL: Fined, Reprimanded for Breach of Requirements
FABER GROUP: Granted Listing of Additional Shares
GENERAL SOIL: SC Rejects Proposed Restructuring Appeal
HONG LEONG: Units Conduct Transfer of Shares

I-BERHAD: Posts Shares Buy Back Notice
JIN LIN: Slapped with RM72,000 Fine
LANKHORST BERHAD: Reprimanded for Failure to Give Notice
LION CORPORATION: Set to List More Shares Today
MECHMAR CORPORATION: Resumes Trading of Shares

NALURI BERHAD: Case Hearing Postponed Until April, June
NAUTICALINK BERHAD: Changes Name to Kosmo Berhad
PANTAI HOLDINGS: Buys Back 14,000 Shares
PILECON ENGINEERING: Sees No Change in Unit's Default Status
WCT ENGINEERING: Lists Additional Shares


P H I L I P P I N E S

ATLAS CONSOLIDATED: Receives Certifications from Mines Bureau
MANILA ELECTRIC: To Seek Reversal for Government Penalty
METRO PACIFIC: Narrows Net Loss to Php244.8 Mln in 2004
PHILIPPINE GLOBAL: Parent Sells Stake for Php1
SANITARY WARES: Insolvency Case Pending Before Insolvency Court


S I N G A P O R E

ACCORD CUSTOMER: Enters Into Investment Agreement with SingPost
ECON INTERNATIONAL: Shareholders Approve Capital Reduction
IPCO INTERNATIONAL: Concludes IPO Preparations
NATSTEEL LIMITED: Unit Disposes Of 35.2% Equity
NEO CORPORATION: Creditor's Meeting Set March 30

SAPTA GLOBAL: Faces Winding Up Proceedings
SOFTBANK CORPORATION: Details Share Sale, Issues
WEARNES INTERNATIONAL: Unit Acquires Interest in Pure-Ionics
YEW LEE: Requires Creditors to Prove Debt, Claims


T H A I L A N D

EMC: Unveils Board Meeting Resolutions
KRUNG THAI: To Ratify Approval of Transfer of Debtors to TAMC
THAI ELECTRONIC: Company Director Resigns
BOND PRICING: For the Week 14 March to 18 March 2005

     -  -  -  -  -  -  -  -

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


ACCAUD PTY: To Convene Final Meeting Today
------------------------------------------
Notice is hereby given that a Final Meeting of Members of Accaud
Pty Ltd (In Liquidation) A.C.N. 079 214 501 will be held at the
offices of Mortons Accountants, 5th Floor, 347 Flinders Lane,
Melbourne today, March 15, 2005 at 9:30 a.m. for the purpose of
laying before the meeting the final liquidator's account.

Dated this 1st day of February 2005

Robert W. Morton
Liquidator


ATCALL CRANES: Members Resolve to Wind Up Company
-------------------------------------------------
Notice is hereby given that on February 3, 2005 the following
special resolution was passed that Atcall Cranes Pty Ltd (In
Liquidation) A.B.N. 14 072 485 119 be wound up voluntarily in
accordance with the Corporations Act 2001 relating to a
Creditors' Voluntary Winding Up.

And that Mr. K. L. Sutherland and Mr. H. A. MacKinnon, Chartered
Accountants, of 332 St Kilda Road, Melbourne be appointed joint
and several Liquidators.

Dated this 4th day of February 2005

H. A. Mackinnon
K. L. Sutherland
Joint and Several Liquidators
Bent & Cougle
Chartered Accountants
332 St Kilda Road, Melbourne Vic 3004


CD MASON: Members, Creditors To Meet Today
------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Act 2001, a final meeting of members and creditors
of CD Mason Pty Ltd (In Liquidation) A.C.N. 004 366 643 will be
held in the Meeting Room, HLB Mann Judd, Chartered Accountants,
1st Floor, 160 Queen Street, Melbourne today, March 15, 2005 at
10:00 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 Liquidators.

Dated this 4th day of February 2005

P. Newman
Liquidator
HLB Mann Judd
Chartered Accountants
1st Floor, 160 Queen Street,
Melbourne 3000


COMPASS PATIENT: AGM Set March 16
---------------------------------
Notice is hereby given pursuant to Sections 508(1) and 509(1) of
the Corporations Act 2001 that an Annual General Meeting and a
Final meeting of the members and creditors of Compass Patient
Transport Pty Ltd (In Liquidation) A.C.N. 090 451 728 will be
held at the offices of PPB, Level 10, 90 Collins Street,
Melbourne on March 16, 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 hearing any explanations that may be
given by the liquidator.

Dated this 7th day of February 2005

Craig Crosbie
Liquidator
Compass Patient Transport Pty Ltd
PPB
Chartered Accountants
Level 10, 90 Collins Street,
Melbourne Vic 3000


E&A INTERNATIONAL: Liquidator to Report Conduct of Winding Up
---------------------------------------------------------------
Notice is given that the final meeting of members and creditors
of E&A International Pty Limited (In Liquidation) A.C.N. 097 033
282 will be held at Level 1, 32 Martin Place, Sydney, NSW, on
Friday, March 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 7th day of February 2005

Adam Shepard
Liquidator
E&A International Pty Limited (In Liquidation)


ELHAM FINANCIAL: Court Issues Winding Up Order
----------------------------------------------
On February 1, 2005 the Supreme Court made Orders that Elham
Financial Services Pty Limited (In Liquidation) A.C.N. 096 708
726 be wound up and appointed the undersigned to be Official
Liquidator.

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


EMERSON OLIVER: To Declare Dividend March 31
--------------------------------------------
A first dividend is to be declared on Thursday, March 31, 2005
for Emerson Oliver Pty Ltd (Subject To Deed Of Company
Arrangement) 972 Main Road, Eltham Vic 3093 A.B.N. 52 083 620
722.

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

Dated this 4th day of February 2005

H. A. Mackinnon
Deed Administrator
Bent & Cougle
Chartered Accountants
Level 5, 332 St Kilda Road,
Melbourne Vic 3004


GOLF AMUSEMENT: Picks Liquidator to Wind Up Company
---------------------------------------------------
On February 4, 2005, the Supreme Court of New South Wales made
an Order that Golf Amusement Management Enterprise Services Pty
Limited (In Liquidation) A.C.N. 050 338 219 be wound up by the
Court and appointed Maxwell William Prentice to be Liquidator.

Dated this 7th day of February 2005

Maxwell William Prentice
c/- PPB
Chartered Accountants & Business Reconstruction
Specialists
15th Floor, 25 Bligh Street,
Sydney NSW 2000
Telephone: (02) 9233 4955
Facsimile: (02) 9221 1310


GREENWORLD MARKETING: Final Meeting Set Today
---------------------------------------------
Notice is hereby given that a Final Meeting of Members of
Greenworld Marketing Pty Ltd (In Liquidation) A.C.N. 096 767 967
will be held at the offices of Mortons Accountants, 5th Floor,
347 Flinders Lane, Melbourne today, March 15, 2005 at 10:30 a.m.
for the purpose of laying before the meeting the final
liquidator's account.

Dated this 1st day of February 2005

Robert W. Morton
Liquidator


LUDY & LAU'S: Liquidator to Explain Winding Up Manner
-----------------------------------------------------
Notice is hereby given that a final combined meeting of the
members and creditors of Ludy & Lau's Place Pty Ltd (In
Liquidation) A.C.N. 104 344 130 will be held at the offices of
Knights Insolvency Administration, 14th Floor, Brisbane Club
Tower, 241 Adelaide Street, Brisbane Qld 4001 on Friday, March
18, 2005 at 3:00 p.m., to receive an account made up by the
Liquidator showing how the winding up has been conducted, how
the property of the Company has been disposed of, to receive any
explanation required thereof and any other business.

Dated this 1st day of February 2005

Jonathan Mcleod
Joint & Several Liquidator
Knights Insolvency Administration - Brisbane


MIRVICH PTY: Members Pass Resolution to Wind Up Company
-------------------------------------------------------
Notice is hereby given that at a general meeting of members of
Mirvich Pty Ltd (In Liquidation) A.C.N. 100 300 785 duly
convened and held at Level 6, 161 Collins Street, Melbourne on
February 2, 2005, a special resolution that the Company be wound
up voluntarily was passed by members and Andrew Reginald Yeo and
Gess Michael Rambaldi were appointed Joint & Several
Liquidators.

Dated this 2nd day of February 2005

A. R. Yeo
G. M. Rambaldi
Joint & Several Liquidators
Pitcher Partners
Level 6, 161 Collins Street,
Melbourne Vic 3000


MULTIPLEX: Wins U.K. Hospital Project
-------------------------------------
A consortium led by Multiplex (ASX:MXG) and ABN AMRO was named
preferred bidder for a city project outside of London, Asia
Pulse reports.

The Greater Peterborough Health Investment Plan Private Finance
Initiative (PFI) project worth around AU$800 million (US$634.16
million) will involve the construction of four buildings. These
included a 762-bed hospital with 22 operating theatres, a 102-
bed mental health unit, a 40-bed care cents and multi-story
carpark.

The Progress Health consortium, which also includes RKW, U.K.
health planning consultants and global healthcare designers
Nightingale Associates, will build facilities at Peterborough,
100 miles north east of London.

Construction will begin soon after the financial closing on
March 31 and the project is scheduled for completion in 2010.

Multiplex has a long-standing relationship with ABN AMRO and the
pair has worked on six previous PFI projects, including the
Berwick Community Hospital and the LaTrobe Regional Hospital,
both in Victoria.

CONTACT:

Multiplex Limited
Level 4
1 Kent Street
Millers Point NSW 2000
Phone: +61 2 9256 5000
Fax: +61 2 9256 5001
Web site: http://www.multiplex.com.au


NAILON INVESTMENTS: To Undergo Voluntary Liquidation
----------------------------------------------------
Notice is hereby given that at a General meeting of Members of
Nailon Investments Pty. Ltd. (In Voluntary Liquidation) A.B.N.
49 004 662 766 held on February 4, 2005 it was resolved that the
Company be wound up voluntarily and that for such purpose Dennis
Michael Foley, Certified Practising Accountant, of 3rd Floor,
Lydiard House, 17 Lydiard Street North, Ballarat, 3350 be
appointed Liquidator.

Dated this 4th day of February 2005

Dennis M. Foley
Liquidator
Dennis M. Foley & Associates
Certified Practising Accountants
3rd Floor, Lydiard House, 17 Lydiard Street North,
Ballarat 3350
Telephone: (03) 5331 2600
Facsimile: (03) 5333 2713
E-mail: dmf@cooke-foley.com.au


NARGOL HOLDINGS: To Hold Final Meeting March 17
-----------------------------------------------
Notice is hereby given pursuant to Section 509(1) of the
Corporations Act 2001, that the final meeting of the members and
creditors of Nargol Holdings Pty Ltd (In Liquidation) (REMPC)
A.C.N. 003 364 903 will be held at the offices of PKF, Level 10,
1 Margaret Street, Sydney, NSW at 11:00 a.m. on March 17, 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
explanation that may be given by the Liquidator.

Dated this 8th day of February 2005

P. C. Stewart
Liquidator
PKF
11th Floor, 485 Latrobe Street,
Melbourne Vic 3000


PC-DIRECT PTY: Court Names G.S. Andrews as Liquidator
-----------------------------------------------------
Notice is hereby given on February 2, 2005, the Supreme Court of
Victoria ordered the winding up of PC-Direct (Aust) Pty Ltd (In
Liquidation) A.C.N. 093 629 157 in proceeding number 9261 of
2004 and Gregory Stuart Andrews of 22 Drummond Street, Carlton
3053 was appointed Official Liquidator of the Company.

Dated this 3rd day of February 2005

G. S. Andrews
Official Liquidator
G. S. Andrews & Associates
Certified Practicing Accountants
22 Drummond Street, Carlton Vic 3053
Telephone: (03) 9662 2666
Facsimile: (03) 9662 9544


QANTAS AIRWAYS: Strikebreakers Brace for Action
-----------------------------------------------
Qantas Airways' army of strikebreaking flight attendants is
preparing for action for the second time in four months, The Age
says.

The national flag carrier has reassembled its strikebreaking
team amid fierce union resistance over budget subsidiary
Australian Airlines' plan to hire lower paid Asian cabin crews
and force its 300 Cairns-based crews to flew longer routes
without extra pay.

The threat of Australian Airlines being hit by industrial
stoppages has risen after the Flight Attendants Association of
Australia (FAAA) failed to respond to an airline-imposed
deadline on Friday that demanded big changes to the working
conditions of its crews.

FAAA Secretary Micahel Mijatov, however, declined to say  
whether the union was preparing for a strike over the breakdown
in talks on an enterprise bargaining agreement.

The strikebreakers, believed to come from the same pool Qantas
hired to head off an industrial action last year, are being paid
AU$1000 a week to be on standby.

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


ROBINSON TOWNS: Sets March 16 as Date of Final Meeting
------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, a final meeting of Robinson Towns Pty Ltd (In
Liquidation) A.B.N. 43 083 418 688 will be held in the Boardroom
of Andrew Dunner & Associates, Chartered Accountants, 23 Erin
Street Richmond on March 16, 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 15th day of February 2005

A. L. Dunner
Liquidator


SALCORP SERVICES: To Convene Final Meeting March 18
---------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Salcorp Services Pty Ltd (In Liquidation) A.C.N.
079 448 034 will be held at the offices of Brooke Bird & Co,
Chartered Accountants, 471 Riversdale Road, Hawthorn East, 3123,
on March 18, 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
Liquidators.

Dated this 4th day of February 2005

Robyn Erskine
Peter Goodin
Joint & Several Liquidators
Brooke Bird & Co
Chartered Accountants


SANTOS LIMITED: Unveils Dividend Reinvestment Plan
--------------------------------------------------
On February 23, 2005, Santos Limited announced a final dividend
of 18 cents per share (fully franked) would be paid on March 31,
2005 to shareholders on record at March 4, 2005.

It also announced that the (Dividend Reinvestment Plan) DRP
would be in operation for this dividend and DRP shares would be
issued at the arithmetic average of the daily weighted average
market price (average market price) over a period of 5 business
days commencing on the business day after the dividend record
date with no discount to apply.

This notification is to advise that the DRP average market price
is AU$8.982480.

CONTACT:

Santos Limited
Ground Floor, Santos
House, 91 King William Street,
Adelaide, S.A. 5000
Web site: http://www.santos.com.au/


SIMPLY WATER: Members, Creditors to Meet March 17
-------------------------------------------------
Notice is hereby given that a Final Meeting of Members and
Creditors of Simply Water Management Pty Ltd (In Liquidation)
A.C.N. 056 617 522 will be held at the offices of Mortons
Accountants, 5th Floor, 347 Flinders Lane, Melbourne, on March
17, 2005 at 10:00 a.m. for the purpose of laying before the
meeting the final liquidator's account.

Dated this 1st day of February 2005

Robert W. Morton
Liquidator


SRC GROUP: To Pay Dividend March 17
-----------------------------------
A first and final dividend to priority unsecured creditors is to
be declared on March 17, 2005 for SRC Group Pty Ltd (In
Liquidation) A.C.N. 091 912 828.

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

Dated this 31st day of January 2005

Jonathan Mcleod
Joint and Several Liquidator
c/- Knights Insolvency Administration
Level 14, 241 Adelaide Street,
Brisbane Qld 4000
Telephone: (07) 3004 3200


TLP PTY: Faces Winding Up Proceedings
-------------------------------------
On February 3, 2005 the Supreme Court of New South Wales made an
order that TLP Pty Ltd be wound up by the Court and appointed me
to be Official Liquidator.

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


TOWER SUPERB: ASIC Approves Trust Refund
----------------------------------------
Some 3000 members of the now-defunct Tower Superb Master Trust
will receive a check in the mail after the Company discovered it
had underpaid members due to "administrative errors", according
to The Age.

Tower Australia has agreed with the Australian Securities and
Investments Commission (ASIC) that it should pay compensation
totaling AU$1 million to members affected by the errors. The
average payout will be AU$350.

The Company's chief executive of risk, David Callander, said
Tower approached ASIC and the Australian Prudential Regulation
Authority in May last year after it discovered the mistakes
during a two-year campaign to identify potential problems.

As part of its enforceable undertaking with ASIC, Tower is
required to notify and compensate all members affected by the
error and engage an independent compliance consultant to review
the compensation methodology to ensure all members are correctly
paid.

Tower will send letters to affected members and has also set up
a hotline: 1800 812 922.


TURFGRASS TECHNOLOGY: Sets Final Meeting on March 21
----------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Turfgrass Technology Pty Ltd (In Liquidation)
A.C.N. 060 688 913 will be held at the offices of Brooke Bird &
Co, Chartered Accountants, 471 Riversdale Road, Hawthorn East,
3123, on March 21, 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 Liquidators.

Dated this 4th day of February 2005

Robyn Erskine
Peter Goodin
Joint & Several Liquidators
Brooke Bird & Co
Chartered Accountants
471 Riversdale Road,
Hawthorn East 3123
Telephone: 9882 6666


WALTER CONSTRUCTION: Management Buy-out Could Save Mining Arm
-------------------------------------------------------------
A management buy-out backed by a private equity fund Helsman
Capital is tipped to rescue the mining division of failed Walter
Construction, relates The Australian.

Due diligence is set to completed this week. The sale price has
not been finalized but is likely to exceed the division's
estimated AU$5.5 million in worker entitlement liabilities, and
AU$8million to AU$10 million in plant and equipment.

The sale of the mining division is the major obstacle to the
wind-up of Walter Construction, expected at a second creditors'
meeting planned for March 30 by administrators KordaMentha.

Liquidation of the Company would allow processing of
applications for payment of 349 retrenched Walter employees
under the federal Government's General Employee Entitlements and
Redundancy (GEER) scheme.


==============================
C H I N A  &  H O N G  K O N G
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CELOSMARINE LIMITED: Annual Meeting Schedule Fixed March 31
-----------------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), an annual meeting of the
members and creditors of Celosmarine Limited (In Creditors'
Voluntary Liquidation) will be held at 20th Floor, Prince's
Building, 10 Chater Road, Central, Hong Kong on March 31, 2005
at 9:00 a.m. and 9:15 a.m. respectively for the purpose of
receiving an account of the liquidator's act and dealings and of
the conduct of the winding up of the Company during the year
ended January 15, 2005.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him. A
proxy need not be a member or creditor of the Company.

Forms of proxies for both meetings must be lodged at 20th Floor,
Prince's Building, 10 Chater Road, Central, Hong Kong not later
than 4:00 p.m. on the day before the meetings.

Dated this 4th day of March 2005

David R Hague
Liquidator


CHINA UNITED: Requests Suspension of Trading
--------------------------------------------
At the request of China United International Holdings Limited
(00273), lodged with the Hong Kong Stock Exchange trading in its
securities has been suspended effective 9:30 a.m. Monday, March
14, 2005 pending a release of an announcement regarding price-
sensitive information.


COSELSALVAGE LIMITED: To Hold Annual Meeting March 31
-----------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), an Annual meeting of the
members and creditors of Coselsalvage Limited (In Creditors'
Voluntary Liquidation) will be held at 20th Floor, Prince's
Building, 10 Chater Road, Central, Hong Kong on March 31, 2005
at 9:30 a.m. and 9:45 a.m. respectively for the purpose of
receiving an account of the liquidator's act and dealings and of
the conduct of the winding up of the Company during the year
ended January 15, 2005.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him.
A proxy need not be a member or creditor of the Company.

Forms of proxies for both meetings must be lodged at 20th Floor,
Prince's Building, 10 Chater Road, Central, Hong Kong not later
than 4:00 p.m. on the day before the meetings.

Dated this 4th day of March 2005

David R Hague
Liquidator


JINHUI HOLDINGS: AGM Set April 12
---------------------------------
Notice is hereby given that the annual general meeting of Jinhui
Holdings Company Limited will be held at Kennedy Room, Level 7,
Conrad Hong Kong, Pacific Place, 88 Queensway, Hong Kong on
Tuesday, April 12, 2005 at 9:30 a.m. for the following purposes:

(1) To receive and consider the Financial Statements and the
Reports of the Directors and Auditors for the year ended  
December 31, 2004.

(2) To declare a final dividend, if any.

(3) To re-elect Directors and fix their remuneration.

(4) To re-appoint Messrs. Moores Rowland Mazars as Auditors for
the ensuing year and authorize the Directors to fix their
remuneration.

(5) To consider and, if thought fit, to pass, with or without
amendments, the following resolution as an Ordinary Resolution:

THAT:

(a) Subject to paragraph (c) and pursuant to section 57B of the
Companies Ordinance (Chapter 32 of the Laws of Hong Kong), the
exercise by the directors of the Company during the Relevant
Period (as defined in paragraph (d) below) of all the powers of
the Company to allot, issue and deal with additional shares in
the capital of the Company and to make or grant offers,
agreements and options which might require the exercise of such
power be and it is hereby generally and unconditionally
approved;

(b) The approval in paragraph (a) above shall authorize the
Directors during the Relevant Period to make or grant offers,
agreements and options which might require the exercise of such
power after the end of the Relevant Period;

(c) The aggregate nominal amount of share capital allotted or
agreed conditionally or unconditionally to be allotted (whether
pursuant to an option or otherwise) by the Directors pursuant to
the approval in paragraph (a) above, otherwise than pursuant to


(i) A Rights Issue (as defined in paragraph (d) below);

(ii) An issue of shares under any option scheme or similar
arrangement for the time being adopted for the grant or issue to
officers and/or employees of the Company and/or any of its
subsidiary companies of shares or rights to acquire shares of
the Company; or

(iii) The exercise of the subscription or conversion rights
attaching to any warrants issued by the Company or any
securities which are convertible into ordinary shares of the
Company, shall not exceed 20% of the total nominal amount of the
share capital of the Company in issue on the date of this
Resolution and the said approval to the Directors in paragraph
(a) above shall be limited accordingly; and

(d) For the purpose of this Resolution:

Relevant Period means the period from the passing of this
Resolution until whichever is the earlier of:

(i) The conclusion of the next annual general meeting of the
Company;

(ii) The expiration of the period within which the next annual
general meeting of the Company is required by the Companies
Ordinance (Chapter 32 of the Laws of Hong Kong) to be held; or

(iii) The revocation or variation of the authority given under
this Resolution by ordinary resolution of the shareholders in
general meeting; and

Rights Issue means an offer of shares open for a period fixed by
the Directors to the shareholders on the register on a fixed
record date in proportion to their shareholdings as at that date
(subject to such exclusions or other arrangements as the
Directors may deem necessary or expedient in relation to
fractional entitlements or having regard to any restrictions or
obligations under the laws of, or the requirements of any
recognized regulatory body or any stock exchange in, any
territory outside Hong Kong).


JETKO INDUSTRIES: Court to Hear Winding Up Petition April 6
-----------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Jetko Industries Limited by the High Court of Hong Kong was on
the 2nd day of February, 2005 present to the said Court by Ha
Chi Pui of Room B, 7/F., Park Mansion, 3 Ting Yue Square, Ngau
Tau Kok, Kowloon, Hong Kong.

The said petition is to be heard before the Court at 9:30 a.m.
on April 6, 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.

Betty Chan
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
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
5, 2005.


MIDLAND REALTY: Proposes to Change Name to Midland Holdings
-----------------------------------------------------------
The Board announced advised the Hong Kong Stock Exchange that it
proposed to change the name of the Company from Midland Realty
(Holdings) Limited to Midland Holdings Limited.

The proposed change of name of the Company will be subject to
the passing of a special resolution at the SGM by the
shareholders of the Company and the Registrar of Companies in
Bermuda granting approval for the proposed change of name. The
Board also proposes that subject to the change of the name of
the Company becoming effective, the Company shall also adopt the
Chinese name for identification purpose only.

The Directors believe that the proposed change of Company name
and adoption of Chinese name would reflect and enhance the
corporate image of the Company and also benefit the future
business development of the Company.

The effective date of the change of name of the Company will be
the date on which the Registrar of Companies in Bermuda enters
the new name of the Company on the register in place of the
existing name. The Company will carry out the necessary filing
procedures with the Registrar of Companies in Hong Kong.

The proposed change of name of the Company will not affect any
of the rights of the shareholders of the Company and all
existing share certificates in issue bearing the existing name
of the Company will continue to be effective as documents of
title to the Shares and will continue to be valid for trading,
settlement and registration purposes.

Once the proposed change of name of the Company becomes
effective, any new share certificates of the Company will be
issued in the new name of the Company.

Accordingly, there will not be any arrangement for free exchange
of existing share certificates for new share certificates
bearing the new name of the Company. A further announcement will
be made by the Company when the proposed change of name of the
Company becomes effective.

GENERAL

The proposed change of Company name is subject to the approval
of the shareholders of the Company by way of special resolutions
at the SGM. A circular containing, inter alia, further details
of the proposed change of name of the Company, together with a
notice convening the SGM and a proxy form, will be despatched to
the shareholders of the Company as soon as practicable.


PASSION FOR PRAISE: Winding Up Hearing Slated for April 27
----------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Passion For Praise Limited by the High Court of Hong Kong
Special Administrative Region was on the 24th day of February
2005 presented to the said Court by Chan Kwok Leung, Kelvin of
Flat 8, 32nd Floor, Wo Yuet House, Cheung Wo Court, Kwun Tong,
Kowloon, Hong Kong.

The said Petition is to be heard before the Court at 9:30 am on
April 27, 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.

Rowland Chow, Chan & Co.
Solicitors for the Petitioner
15th Floor, Wing Lung Bank Building
No. 45 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
26, 2005.


SUN SPORTS: Clarifies Unusual Volume Movement
---------------------------------------------
The Hong Kong Stock Exchange has received a message from Sun
Sports Media Group Limited, which is reproduced as follows:

"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

The Company has noted the recent increase in the trading volume
of the ordinary shares of Sun Sports Media Group Limited (to be
renamed as Tidetime Sun (Group) Limited) and wishes to state
that the Company is not aware of any reason for such
fluctuation.

The Company also confirm that there are no negotiations or
agreements relating to intended acquisitions or realizations
which are discloseable under rule 13.23, neither is the Board
aware of any matter discloseable under the general obligation
imposed by rule 13.09, which is or may be of a price-sensitive
nature.

Made by the order of the board of directors of the Company, the
directors of the Company individually and jointly accept
responsibility for the accuracy of this statement.

For and on behalf of

Tidetime Sun (Group) Limited
Sophie Lam
Company Secretary


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

BANK PERMATA: Moody's Considers Possible Upgrade
------------------------------------------------
Moody's Investors Service has placed the "E" bank financial
strength rating of Bank Permata on review for possible upgrade.
The bank's deposit ratings are unaffected.

The review will consider the improving financial condition of
the bank's post-merger, as well as the impact of the
shareholding change on the bank's franchise. Given the
reputation of the consortium, Standard Chartered Bank (rated A2)
in particular, Moody's expect anticipated support -- financial
and technical -- to be strong.

The consortium has not yet unveiled its plans, but the rating
agency expects substantial upgrading and strategic measures,
given the strategic nature and amount of the investment.
Permata's size may constraint its ability to develop a
sustainable franchise in the changing and competitive operating
environment.

Nonetheless, prospects for the bank seem brighter and an
enhancement to the franchise and improvements in financial
fundamentals would put upward pressure on its bank financial
strength rating.

Finally, the backing of a financially strong and reputable
consortium provides greater comfort of available support. Due to
Permata's size as Indonesia's seventh largest bank, it may also
be considered to have relatively lower systemic importance and
hence, support.

Bank Permata was formed in September 2002 from the amalgamation
of four banks -- Bank Universal, Bank Patriot, Bank Prima
Express and Bank Artamedia -- into Bank Bali. Pre-crisis, Bank
Bali was one of the strongest banks in Indonesia, with
profitable niches in trade finance, middle-market lending and
retail banking. It was taken over by the Indonesian Bank
Restructuring Agency during the financial crisis in 1999.

In October 2004, a consortium -- comprising Standard Chartered
PLC and Indonesian car manufacturer Astra International --
acquired 51% of Permata from the Indonesian Bank Restructuring
Agency. As of end-2004, this stake increased to 63.1%. Both
Standard Chartered and Astra hold equal stakes in the
consortium.

Today, the combined entity is the seventh largest bank in the
country with a 3% share of system deposits.

The following rating is on review for possible upgrade:

Bank financial strength rating of E.

The following ratings are unaffected:

Long-term/short-term deposit ratings of B3/Not-Prime. The long-
term rating carries a positive outlook and the short-term
stable.

CONTACT:

Pt Bank Permata Terbuka
Jalan Jend Sudirman Kav 27
Jakarta, 12920
Indonesia
Phone: +62 21 523 7899
Fax:   +62 21 250 0680


DIRGANTARA INDONESIA: Land Dispute May Hurt Business
----------------------------------------------------
PT Dirgantara Indonesia (DI) is worried about the possible
effects of the land dispute between Indonesia and Malaysia,
reports Khalsa Business News.

According to DI President Edwin Sudarmo, political developments
in the state has great influence on the airline business. The
airline fears the conflict over the offshore area of Ambalat in
East Kalimatan could cancel planned aircraft sales to Malaysia.

Mr. Sudarmo said that Malaysia had bought 6 units of a military
type aircraft from DI (CN 235), with 2 more units scheduled for
delivery, but did not push through in its plans to buy 5
helicopters from the firm when former president Abduracchamn
defended former Vice Prime Minister Anwar Ibrahim.

Malaysia is planning to buy eight more CN235 units from DI this
year, valued at IDR1.13 trillion. The firm aims to increase
earnings through sales of spare parts and charging fees for
CN235 aircraft maintenance.

CONTACT:

PT Dirgantara Indonesia
Jl. Pajajaran no. 154 Bandung 40174,
Indonesia
Phone: 62-22-6034562, 62-22-6010754, 62-22-6010759
Fax: 62-22-6019538, 62-22-6075671, 62-22-6031696
E-mail: infosales@indonesian-aerospace.com


PERTAMINA: Goldman Sachs Challenges Court Ruling
------------------------------------------------
PT Pertamina's business consultant Goldman Sachs will challenge
the Business Competition Supervisory Commission's (KPPU) ruling
declaring the firm guilty of collusion in the sale of
Pertamina's two tankers, reports the Jakarta Post.

Goldman Sachs lawyer Todung Mulya Lubis said that his client
firm dismissed the ruling, saying that it followed international
standards and regulations in conducting the sale, and that they
will file an objection as soon as they can.

According to Mr. Todung, since Pertamina appointed Goldman Sachs
as consultant for the tanker sale, the final decision (and its
outcome) ultimately rests with Pertamina, and not the
consultant.

Last March 4, KPPU ruled that Goldman Sachs and another firm,
Frontline Ltd., colluded with Pertamina in the sale of
Pertamina's two Very Large Crude Carrier (VLCC) tankers worth
IDR1.73 trillion, which cost the state IDR469.4 billion in
losses.

KKPU had discovered that Goldman Sachs received a final bid from
Frontline Ltd. after the deadline for all bids had passed. The
two firms were ordered to pay IDR19.7 billion and IDR25 billion
in fines, respectively, and IDR60 billion and IDR120 billion,
respectively.

CONTACT:

PT Pertamina Tbk
Jalan Merdeka, Timur No. 1 A
Jakarta 10110
Indonesia
Phone: (62)(21) 3815111
Fax:   3846865/ 3843882
Web site: http://www.pertamina.com


SEMEN GRESIK: States Seeks Out-of-Court Settlement with Cemex
-------------------------------------------------------------
The Indonesian government intends to settle its dispute with
Cemex Asia on the suit filed by Cemex over Indonesia's Semen
Gresik, Khalsa Business News reports.

However, Cemex Asia said it would proceed to settle the case in
arbitration court.

Cemex, which currently owns 25.5 % of Semen Gresik, had
previously filed a suit against the government for failure to
meet a contract allowing the firm to acquire more stake in the
state-owned cement factory.

The Mexican firm later withheld the suit in hopes to settle the
case out of court, but failed to reach an agreement with the
government before the Feb. 28 deadline set by Cemex.

The arbitration proceeding is scheduled to take place six months
from Cemex's re-filing of the suit in court.

CONTACT:

PT Semen Gresik (persero) Terbuka
Jalan Veteran
Gresik 61122
Indonesia
Phone: +62 31 398 1731-2/1745
Fax:   +62 31 398 3209/3972 2264
Web site: http://www.americanstandard.com/


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

DAIEI INCORPORATED: May Quit Hokkaido, Tohoku Ops
-------------------------------------------------
Daiei Incorporated may pull out its businesses in the Hokkaido
and Tohoku region as part of a revival scheme, which is subject
to approval by its rehabilitation sponsors, The Japan Times
reports.

The bailout plan designed by the state-backed Industrial
Revitalization Corporation of Japan (IRCJ) had considered a
partial withdrawal from Northern Japan. However, the consortium
led by Marubeni Corporation and Advantage Partners Inc. is
reportedly mulling on making additional store closures.

The IRCJ's rehabilitation plan calls for Daiei to close 53
stores nationwide, including two in Hokkaido. The program also
requires Daiei not to open any new stores in Hokkaido.
Meanwhile, only two Daiei outlets in Tohoku would remain.

Last week the Marubeni-Advantage Partners group formally inked a
contract with the IRCJ to sponsor the rebuilding of the
struggling retail giant, Daiei.

CONTACT:

The Daiei Incorporated
4-1-1, Minatojima Nakamachi,
Chuo-ku, Kobe, 650-0046
Japan
Phone: +81-78-302-5001
Fax: +81-78-302-5572
Web site: http://www.daiei.co.jp


DAIEI INCORPORATED: Turnaround Program Set for Review
-----------------------------------------------------
The Industrial Revitalization Corporation of Japan (IRCJ) and
the rehabilitation sponsors of Daiei Incorporated will start
reviewing the ailing retailer's revival program this week,
according to Jiji Press.

The state-backed corporate turnaround body and the Marubeni-
Advantage Partners consortium will conduct the review from a
viewpoint of concentrating Daiei's business resources on its
core service areas.

An IRCJ executive said that the corporate turnaround body is
ready to accept a partial review of the program based on a
request by the two sponsor firms as long as the framework of
IRCJ's original plan is maintained.


KOBE STEEL: Ups Earnings Forecast for Fiscal 2004
-------------------------------------------------
Kobe Steel, Ltd. announced its earnings forecast for fiscal
2004, ending March 2005. This forecast also fulfills the
requirements stipulated by the Tokyo Stock Exchange for the
timely disclosure of quarterly financial information.

Consolidated Forecast

Japan's economy in fiscal 2004 has been improving, but is now
leveling off. Although strong exports and higher private-sector
capital investment are contributing to the upswing, oil prices
are escalating and inventory adjustments in the IT industry are
cause for concern. Domestic demand for steel in the second half
of the fiscal year, mainly from the shipbuilding, automotive and
other manufacturing industries, is expected to be higher than in
the first half.

Overseas demand primarily from Japanese transplants for high-
quality steel, a product area in which Japanese steelmakers are
focusing on, is expected to continue being strong. Under these
conditions, Japan's total crude steel production is anticipated
to exceed 113 million metric tons in fiscal 2004.

On this background, Kobe Steel's shipments of steel products in
the second half of the fiscal year are forecast to be higher
than in the first half. Sales prices, too, have risen both in
Japan and overseas, due to the tight supply, strong demand and
high raw material prices. In Kobe Steel's Machinery segment,
orders for direct reduction plants using the MIDREX Process
owned by Kobe Steel are anticipated to increase license income
for the process.

As a result, consolidated net sales are forecast to increase
JPY10 billion from the previous forecast in November 2004 to
approximately JPY1.45 trillion. Pretax ordinary income (also
called pretax recurring profit) is anticipated to increase JPY5
billion from the previous forecast to JPY110 billion.

Inventories at Kobe Steel's works and plants in its Iron & Steel
and Aluminum & Copper segments are valued using the last-in,
first-out method. However, moving toward international
accounting standards, Kobe Steel plans to adopt the average
method from fiscal 2005, ending March 2006. Due to this change,
unrealized loss will arise from inventories in which the market
value is below the book value. Preceding this change, Kobe Steel
plans to post an extraordinary loss of JPY10 billion for a
write-down of inventories in fiscal 2004 to maintain its
financial health.

Consequently, consolidated net income is projected to be
approximately JPY50 billion, unchanged from the previous
forecast.

Dividends

Taking into consideration the Company's business performance and
retained earnings in fiscal 2004, it was decided at the Board of
Directors' meeting today to propose at the ordinary
shareholders' meeting that a dividend of JPY3 per share be paid
for the fiscal year.

To view the entire media release, click on:
http://bankrupt.com/misc/tcrap_kobesteel031405.pdf

CONTACT:

Kobe Steel, Ltd.
10-26, Wakinohama-Cho 2-Chome
Shinko Building
Chuo-Ku, Kobe 651-8585
Japan
Phone: +81 78 2615183
Fax: +81 78 2614123
Web site: http://www.kobelco.co.jp/indexe.htm


TOWA CORPORATION: R&I Affirms BBB-: Towa Corp. Senior L-T Debt
--------------------------------------------------------------
Rating and Investment Information, Inc. (R&I) has affirmed the
following ratings on Towa Corporation.

Senior Long-term Credit Rating
R&I RATING: BBB- (Affirmed)
RATING OUTLOOK: Negative

RATIONALE:

TOWA is a leading manufacturer of semi-conductor packaging and
automolding systems. It has a broad clientele, primarily
specialist Taiwanese semi-conductor fabricators. Although TOWA
has made progress in improving its business, the start up of the
Chinese plant in which it invested as a manufacturing base has
been delayed, and the Company was unable to secure adequate
earnings during the favourable in calendar 2004.

TOWA's profit ratio is now on the rise due to improving profits
and undertaking outsourced operations. However, orders for the
entire semiconductor manufacturing equipment industry are
falling, and it is possible that earnings will not recover as
expected. The Company's equity capital has been undermined by
past deficits, and the debt is on the rise. The Company's rating
is conditional on securing a certain level of earnings despite
the downturn in market conditions by shortening production lead
time and improving productivity.

R&I RATINGS:

ISSUER: Towa Corp. (Sec. Code: 6315)
Senior Long-term Credit Rating: BBB- (Affirmed)
RATING OUTLOOK: Negative

An R&I Senior Long-term Credit Rating is an opinion regarding an
issuer's overall capacity to pay its entire financial
obligations, without taking into account the degree of recovery
of specific obligations.

A Senior Long-term Credit Rating will be assigned to all
issuers. Ratings for individual issues may differ from the
Senior Long-term Credit Rating depending on the terms and
conditions of the issue.

CONTACT:

TOWA CORPORATION
5 Kamitoba-Kamichoshicho
Minami-Ku, Kyoto 601-8105, Kyoto 601-8105
JAPAN
Phone: +81 75 692 0250
Fax: +81 75 692 0270
Web site: http://www.towajapan.co.jp/


* Corporate Bankruptcies Down for 26th Straight Month
-----------------------------------------------------
The number of corporate bankruptcies in Japan dipped 12.6
percent in February from the same month a year ago, marking the
26th straight month of decline, reports The Associated Press.

Data compiled by Teikoku Databank Limited revealed a total of
1,056 companies fell into bankruptcy last month with combined
debts totaling JPY808.29 billion (US$7.77 billion), down 25.8
percent from a year earlier. In February last year, some 1, 208
firms collapsed, leaving behind JPY1.089 trillion (US$10.47
billion) in debt.

The private research agency said the decline is mainly due
government programs designed to extend financial help to smaller
corporations.

After more than a decade-long stagnation, the Japanese economy
has been striving to recover over the last two years on the back
of exports to the U.S. and the rest of Asia, though sluggish
consumer spending has prevented a sustained recovery.

Last month, 799 companies were driven into bankruptcy by
recession-related factors, accounting for 75.7 percent of total
bankruptcy cases.


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

LG CARD: Interested Buyer Thinks Value is "Too High"
----------------------------------------------------
Hana Bank has prioritized bidding for embattled LG Card, but has
said that the firm's KRW4 trillion market value is too high,
reports Reuters News.

After a possible takeover of asset manager Daehan Investment &
Securities, the bank is eyeing LG Card to improve its credit
card business, as well as looking into buying another bank,
Korea Exchange Bank.

According to bank deputy president Kim Jong-yeol, they can't
afford LG Card's current market price, but a capital write-down
at the firm would give it better value.

Hana Bank put first priority on Daehan Investment and LG Card,
before seeking mergers and acquisitions with other firms.

CONTACT:

LG Card Company Limited
Fax: (02) 3420-7002
E-mail: webmaster@card.lg.co.kr
Web site: http://www.lgcard.com
    

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


ANTAH HOLDINGS: Failed to Meet Bursa Malaysia Requirements
----------------------------------------------------------
On 11 March 2005, Bursa Malaysia Securities Berhad (Bursa
Securities) publicly reprimanded and imposed a total fine of
RM138,000 on Antah Holdings Berhad for breach of paragraphs
9.22(1) and 9.23(b) of Bursa Malaysia Securities Berhad's
Listing Requirements (Bursa Securities LR).

The said fine of RM138,000 comprised of RM16,000 for breach of
paragraph 9.22(1) and RM122,000 for breach of paragraph 9.23(b)
of the Bursa Securities LR.

Antah Holdings Berhad breached paragraph 9.22(1) of the Bursa
Securities LR for failure to submit its quarterly report for the
financial period ended Sept. 30, 2004 on or before Nov. 30,
2004. The aforementioned quarterly report was only furnished to
Bursa Securities on Dec. 10, 2004, after a delay of 8 market
days.

The Company breached paragraph 9.23(b) of the Bursa Securities
LR for failure to submit its annual audited accounts for the
financial year ended June 30, 2004 (AAA 2004) on or before Oct.
31, 2004. As of to date, ANTAH has yet to furnish the AAA 2004
to Bursa Securities.

The public reprimand and fine were imposed pursuant to Paragraph
16.17 of the Bursa Securities LR after having considered all
relevant factors, including the fact that the Company had
earlier breached the Bursa Securities LR.

Bursa Securities also directed the Company to furnish the AAA
2004 to Bursa Securities for public release within one (1) month
from the date hereof.

CONTACT:

Antah Holdings Berhad
Level 7, Menara Milenium,
Jalan Damanlela,
Pusat Bandar Damansara,
Damansara Heights 50490
Kuala Lumpur, Malaysia
Phone: 03-20849000
Fax:   03-20949940


BUKIT KATIL: Fined, Reprimanded for Breach of Requirements
----------------------------------------------------------
On March 11, 2005, Bursa Malaysia Securities Berhad (Bursa
Securities) publicly reprimanded Bukit Katil Resources Berhad
for failing to fulfill paragraphs 9.16(1)(a), 9.19(34), 9.23(a)
and 9.23(b) of the Listing Requirements of Bursa Securities
(Bursa Securities LR). For breaches of paragraphs 9.23(a) and
(b) of the Bursa Securities LR, a total fine of RM400,000 was
also imposed.

The Company was found to be in breach of the following
provisions of the Bursa Securities LR:

(a) Paragraph 9.16(1)(a)

The Company failed to take into account the adjustments
explained in the Company's announcements dated 8 October 2004
resulted in the difference:

- between the unaudited results which was announced on Aug. 29,
2003 and the amended unaudited results which was announced on
Sept. 13, 2004; and

- between the unaudited results and the audited results which
was announced on Sept. 30, 2004 for the financial year ended
June 30, 2003.

(b) Paragraph 9.19(34)

The Company failed to make an immediate announcement to explain
the difference between its audited results and unaudited results
for the financial year ended June 30, 2003. The audited
quarterly report for June 30, 2003 was submitted to Bursa
Securities on Sept. 30, 2004; however, the explanation of the
difference between the unaudited results and audited results was
only announced to Bursa Securities on Oct. 8, 2004.

(c) Paragraph 9.23(a)
The Company did not submit its June 30, 2003 annual report by
the due date, Dec. 31, 2003. The 2003 annual report was only
submitted to Bursa Securities on Dec. 8, 2004.

(d) Paragraph 9.23(b)

In respect of the Company's failure to submit the annual audited
accounts for the June 30, 2003 quarter by the due date (Oct. 31,
2003), the 2003 annual audited accounts were only submitted to
Bursa Securities on Sept. 30, 2004.

The public reprimand and fine were imposed pursuant to paragraph
16.17 of the Bursa Securities LR after taking into consideration
all relevant factors, including the fact that the Company has
previously breached the Bursa Securities LR.

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela Pusat Bandar Damansara,
Damansara Heights, Kuala Lumpur 50490
Malaysia
Phone: +60 3 2095 7077
Fax:   +60 3 2094 9940


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 are granted listing and
quotation effective Tuesday, March 15, 2005.

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


GENERAL SOIL: SC Rejects Proposed Restructuring Appeal
------------------------------------------------------
General Soil Engineering Holdings Berhad refers to its
announcement dated Nov. 25, 2004 wherein the Company had
submitted an appeal letter to the Securities Commission (SC) to
seek the SC's re-consideration to approve its Proposed
Restructuring Scheme.

The Company announced that the SC had, via its letter dated
March 8, 2005 (received on March 10, 2005), rejected the Appeal
in view that the Company failed to satisfactorily address the
issues highlighted earlier by the SC. In addition, the SC also
reminded the Company to take further actions to recover the
remaining amount outstanding pursuant to the Profit Guarantee
and Stakeholders Agreement dated June 19, 1997 from the relevant
guarantors.

The Company will deliberate on the next course of action to be
taken and an announcement will be made in due course.

CONTACT:

General Soil Engineering Holdings Berhad
346, Jalan Tuanku Abdul Rahman
50100 Kuala Lumpur
Malaysia
Phone: 03-2698 9888
Fax:   03-2693 8580/670

This announcement is dated March 11, 2005.


HONG LEONG: Units Conduct Transfer of Shares
--------------------------------------------
Hong Leong Industries Berhad (HLI) announced that pursuant to an
internal reorganization, MZ Motorrad Group Limited, a wholly
owned subsidiary of the Company incorporated in Bermuda, had on
March 11, 2005 entered into separate Sale and Purchase
Agreements with MZ Motorrad- und Zweiradwerk GmbH, another
wholly owned subsidiary of the Company incorporated in Germany,
to acquire an aggregate of:

(i) 2 shares of Euro500,000.00, representing 100% of the paid in
capital of MZ Engineering GmbH for cash consideration of
Euro1.00; and

(ii) 200 shares of capital stock, constituting 100% of the stock
inventory and the entire issued and paid up capital stock of MuZ
North America Inc for cash consideration of USD1.00

The Proposed Transfer would not have any impact on the net
tangible assets and earnings per share of HLI Group for the
financial year ending June 30, 2005.

As the transaction is between wholly owned subsidiaries of HLI,
none of the Directors and major shareholders of HLI and persons
connected with them, has any interest, direct or indirect, in
the Proposed Transfer.

The Proposed Transfer is not subject to the approval of any
Malaysian governmental authority or the shareholders of the
Company.

The Board of Directors of the Company thinks that the Proposed
Transfer is in the best interest of HLI Group.

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

This announcement is dated March 11, 2005.


I-BERHAD: Posts Shares Buy Back Notice
--------------------------------------
I-Berhad disclosed to the Bursa Malaysia Securities Berhad
details of its shares buy back on March 11, 2005.
  
Date of buy back: 11/03/2005

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

Total number of shares purchased (units): 33,300

Minimum price paid for each share purchased (RM): 0.840

Maximum price paid for each share purchased (RM): 0.840

Total consideration paid (RM):  28,179.02

Number of shares purchased retained in treasury
(units): 33,300

Number of shares purchased which are proposed to be cancelled
(units):      0

Cumulative net outstanding treasury shares as at to-date
(units): 1,119,900

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

CONTACT:

I-Berhad
3, Jalan Astaka U8/84
Section U8, Bukit Jelutong
40150 Shah Alam
Selangor, Malaysia
Phone: 03-7845 4511
Fax:   03-7845 4514
Web site: http://www.i-digital.com

This announcement is dated March 11, 2005.


JIN LIN: Slapped with RM72,000 Fine
-----------------------------------
Bursa Malaysia Securities Berhad (Bursa Securities) publicly
reprimanded and imposed a total fine of RM72,000 on Jin Lin Wood
Industries Berhad for breaches of paragraphs 9.22(1) and 9.23(b)
of the Listing Requirements of Bursa Securities.

The Company breached paragraph 9.22(1) of the Bursa Securities
LR for failure to submit its quarterly report for the period
ended Sept. 30, 2004 within the timeframe. The due date for
submission was on or before Nov. 30, 2004, and the Company only
submitted its quarterly report on Dec. 13, 2004, after a delay
of 9 market days.

The Company also breached paragraph 9.23(b) of the Bursa
Securities LR for failure to submit its annual audited accounts
(AAA) for the financial year ended June 30, 2004 within the
timeframe. The due date for submission was on or before Oct. 31,
2004, and the Company only submitted its AAA 30/6/04 on Dec. 13,
2004, after a delay of 27 market days.

The public reprimand and fine were imposed pursuant to Paragraph
16.17 of the Bursa Securities LR after taking into consideration
various relevant factors including the fact that the Company had
previously breached the Bursa Securities LR.

The total fine of RM72,000 for the above breaches of the Bursa
Securities LR comprised of the following:

(a) RM18,000 for breach of paragraph 9.22(1) of the Bursa
Securities LR for failure to submit QR 30/9/04 within the
timeframe; and

(b) RM54,000 for breach of paragraph 9.23(b) of Bursa Securities
LR for failure to submit AAA 30/6/04 within the timeframe.

CONTACT:

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


LANKHORST BERHAD: Reprimanded for Failure to Give Notice
--------------------------------------------------------
On 11 March 2005, Bursa Malaysia Securities Berhad (Bursa
Securities) publicly reprimanded Lankhorst Berhad for breach of
paragraph 9.19(19) of the Listing Requirements of Bursa
Securities (Bursa Securities LR).

The Company has breached paragraph 9.19(19) of the Bursa
Securities LR for failure to make an immediate announcement when
a winding-up petition was served on subsidiary Lankhorst
Pancabumi Contractors Sdn Berhad on Oct. 29, 2004. The Company
only made the announcement of the Petition to Bursa Securities
for public release on Nov. 8, 2004.

The public reprimand was imposed pursuant to paragraph 16.17 of
the Bursa Securities LR after taking into consideration various
relevant factors including the fact that the Company had
previously breached the Bursa Securities LR.

CONTACT:

Lankhorst Berhad
5th Floor, Bangunan Umno Selangor
Persiaran Perbandaran , Section14
40000 Shah Alam
Selangor, Malaysia
Phone: 03-50313030
Fax:   03-50313036


LION CORPORATION: Set to List More Shares Today
-----------------------------------------------
Lion Corporation Berhad's additional 110,000 new ordinary shares
of RM1.00 each issued pursuant the Company's Executive Share
Option Scheme are granted listing and quotation effective
Tuesday, March 15, 2005.

CONTACT:

Lion 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


MECHMAR CORPORATION: Resumes Trading of Shares
----------------------------------------------
Further to Listing Circular No. L/Q 29981 of 2005, trading in
Mechmar Corporation (Malaysia) Berhad's shares will resume
effective Tuesday, March 15, 2005, 9:00 a.m.

Please refer to the Company announcement dated March 11, 2005.

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


NALURI BERHAD: Case Hearing Postponed Until April, June
-------------------------------------------------------
Naluri Berhad refers to its announcement dated Jan. 28 2005, the
definitions of which apply throughout this announcement.

The Company announced that the hearing date in relation to
Petition No. D2-26-88-2004 filed by Adenan Bin Ismail against
the Company and others is postponed to April 12, 2005.

In addition, the hearing date in relation to Suit No. D2-22-565-
2004 filed by Hazman Bin Ahmad against the Company and others is
postponed to June 29, 2005.

CONTACT:

Naluri Berhad
161B Jalan Ampang
Kuala Lumpur, 50450
Malaysia
Phone: +60 3 2162 0878
Fax:   +60 3 2162 0676

This announcement is dated March 11, 2005.


NAUTICALINK BERHAD: Changes Name to Kosmo Berhad
------------------------------------------------
Nauticalink Berhad (NB) announced that Orion Unggul Sdn Bhd
(Company No. 615599-T), a Company that was established to
facilitate the Proposed Restructuring Scheme of the Company, has
completed the change of its name and converted into into a
public limited Company on March 8, 2005. The Company's present
name is Kosmo Technology Industrial Berhad.

CONTACT:

Nauticalink Berhad
8th Flr, Tower Block
Plaza Pekeliling
2, Jln Tun Razak
50400 Kuala Lumpur
Malaysia
Phone: 03-40431005
Fax:   03-40431058

This announcement is dated March 11, 2005.


PANTAI HOLDINGS: Buys Back 14,000 Shares
----------------------------------------
Pantai Holdings Berhad disclosed details of its shares buy back
on March 11, 2005 to the Bursa Malaysia Securities Berhad.

Date of buy back: 11/03/2005

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

Total number of shares purchased (units): 14,000

Minimum price paid for each share purchased (RM): 0.990

Maximum price paid for each share purchased (RM): 1.000

Total consideration paid (RM): 14,004.98

Number of shares purchased retained in treasury
(units):  14,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 27,995,100

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/


PILECON ENGINEERING: Sees No Change in Unit's Default Status
------------------------------------------------------------
Pilecon Engineering Berhad (PEB) announced that, in relation to
the default status in payment pursuant to Practice Note 1/2001
by Company subsidiary Transbay Ventures Sdn Berhad (TVSB), there
have not been any changes to the status of default since the
Company's last announcement on the matter dated Feb. 18, 2005.

CONTACT:

Pilecon Engineering Berhad
No. 2, Jalan U1/26 Seksyen U1,
Hicom-Glenmarie Industrial Park, Shah Alam,
Selangor Darul Ehsan 40000 Malaysia
Phone: (603) 704-1888


WCT ENGINEERING: Lists Additional Shares
----------------------------------------
WCT Engineering Berhad's additional 124,400 new ordinary shares
of RM1.00 each issued pursuant to the Exercise of 124,400
warrants 2000-2005 are granted listing and quotation effective
Tuesday, March 15, 2005.

CONTACT:

WCT Engineering Berhad
12, Jalan Majistret U1/26
Seksyen U1, Lot 44,
Hicom-Glenmarie Industrial Park
40150 Shah Alam, Selangor Darul
Ehsan, Malaysia
Phone: 603-7805 2266


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

ATLAS CONSOLIDATED: Receives Certifications from Mines Bureau
-------------------------------------------------------------
In compliance with the requirement of the Exchange for a
certification from the Bureau of Mines and Geosciences on the
status of Atlas Consolidated's mining claims, please find
attached herewith the following:

(1) Certification issued on February 4, 2005 by MGB-Region IV,
Ermita, Manila certifying that Atlas Consolidated Mining and
Development Corporation (ACMDC or Atlas) has filed with its
office the applications for Mineral Production Sharing
Agreements (MPSA) and Explorations Permits (EP) covering the
areas situated in the Province of Palawan.

(2) Certification issued on March 4, 2005 by MGB Region V,
Daraga, Albay certifying that records of said office show that
MPSA Application denominated as MPSA - V-0036 filed on July
16,1991 by ACMDC covering an area of 2,987.1144 located at
Brgys. Ba-ay and Pag-asa, Labo, Camarines Norte is currently
being processed by the MGB Region V.

(3) Certification issued on February 1, 2005 by MGB-Region VII,
Banilad, Mandaue City certifying that per its records on file
ACMDC has certain valid and existing Lease Contracts (LLCs) and
pending Applications for Mineral Production Sharing Agreement
(APSA) located in the Province of Cebu as shown in the attached
List of Tenement Holdings. It further certifies that the
suspension in the processing of the mining rights applications
(APSAs) of Atlas was already lifted on October 15, 2004 and that
Atlas is currently undertaking Care and Maintenance Program
monitored by the Multipartite Monitoring Tea, of the said
office.

(4) Certification issued on March 1, 2005 by MGB-Region XIII,
Surigao City certifying that based on its records, the Mineral
Production Sharing Agreement Applications of ACMDC denominated
as APSA-X-002 and MPSAA-(XI)-09 located in the Barrios of
Castillo, Umalag and Bolhoon, Municipality of San Miguel,
Province of Surigao del Sur containing a total area of 5,155,219
hectares are still valid and subsisting. It further certifies
that the said MPSA applications were converted to EP application
denominated as EPA-000073-XII filed on February 2, 2005.

To view the attachments, click on:
http://bankrupt.com/misc/tcrap_atlasconsolidated031405.pdf

CONTACT:

Atlas Consolidated Mining and Development Corporation
7/F, Quad Alpha Centrum
125 Pioneer St., Mandaluyong City
Phone No:  635-2387/4495
Fax No:  633-3759; 634-2312
E-mail Address:  acmdcmla@info.com.ph
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Stock Transfer Service, Inc.


MANILA ELECTRIC: To Seek Reversal for Government Penalty
--------------------------------------------------------
The Manila Electric Company (Meralco) has received a notice from
the Energy Regulatory Commission (ERC) penalizing the Company in
the amount of Php348,900 for alleged violation of ERC Order,
Rules and Regulations for undertaking the following distribution
projects:

(1) Unloading of Gaya-Gaya Bank No. 1
(2) Flexibility Improvement of Taguig 49ZL and Dolores 44XM
(3) Unloading of North Port 405H

without prior ERC approval.

The Company will seek a reconsideration of the Order because ERC
approval was in fact applied for prior to the construction of
the projects but was not immediately granted. Pending approval,
the Company was constrained to proceed with the construction due
to its urgency to provide sufficient, reliable and adequate
electric service in the areas affected.

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Phone:  16220 (TL); 633-4553 (Corp. Sec.)
Fax:  (0632) 631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


METRO PACIFIC: Narrows Net Loss to Php244.8 Mln in 2004
-------------------------------------------------------
Metro Pacific Corporation (PSE:MPC) on Friday reported an
unaudited net loss of Php244.8 million for the year ended
December 31, 2004, a significant improvement from the Php837.9
million loss recorder for 2003. The improvement can be
attributed to reduced operating expenses, financing charges and
reversals of prior provisions.

Consolidated revenues stood at Php3.3 billion for 2004, compares
with Php4.0 billion for 2003. The decline resulted from lower
revenues at Negros Navigation Company (Nenaco), the effect of
the deconsolidation of Bonifacio Land Corporation from Metro
Pacific accounts and slightly reduced revenues realized by
Landco Pacific Corporation (Landco) and Pacific Plaza Towers
(PPT).

Operating expenses declined significantly to Php684.7 million in
2004, compared with Pho860.6 million in 2003. Financing charges
were similarly reduced to Php527.0 million in 2004 compared with
Php763.6 million in 2003, mainly due to various debt settlement
agreements achieved during the course of the year.

Metro Pacific declared itself to be in a self-administered debt
workout scenario from late 2001, when its parent Company bank
debts stood at approximately Php11.7 billion. By the end of
2004, Metro Pacific had achieved debt settlement agreements with
various creditors that retired Php10.4 billion of its total
debt, leaving debts as at year-end 2004 of approximately Php1.3
billion only - 11.0 percent of the 2001 debt level.

2005 Outlook

With Metro Pacific's debt reduction program almost completed,
management believes a foundation is being built to revitalize
its business operations and prepare for renewed growth. It is
envisioned that further debt reduction will be realized in the
course of 2005, such that Metro Pacific's debt level will
stabilize at around Php350.0 million before the end of the year.
Metro Pacific has also become increasingly engaged with CITRA
Metro Manila Tollways Corporation (CMMTC), of which it is a
minority investor and for which Metro Pacific President and CEO
Jose Ma. K. Li, is concurrent President and CEO. Metro Pacific
believes its involvement with infrastructure projects generally,
and CMMTC particularly, represent a prime area of future growth
for the Company.

To view the entire document, click on:
http://bankrupt.com/misc/tcrap_metropacific031405.pdf

CONTACT:

Metro Pacific Corporation
10/F MGO Bldg., Legazpi cor. dela Rosa St.,
Legazpi Village 0721 Makati City, Philippines
Telephone No.: 888-0888
Fax No.: 888-0830


PHILIPPINE GLOBAL: Parent Sells Stake for Php1
----------------------------------------------
The APC Group Incorporated has decided to sell its unprofitable
telecommunications unit, Philippine Global Communications
(PhilCom) to Fiber Telecom for Php1, Business World reports.

The Php1-transaction will actually ease APC of the Php5.3-
billion debt of PhilCom that has burdened the holding firm's
books APC expects the sale to boost its net worth by over Php4
billion.

APC, which holds 241,929 million shares representing a 40
percent stake in PhilCom, has been booking negative
stockholders' equity due to the losses of the unit. Its third
quarter report to the Philippine Stock Exchange (PSE) showed
that the holding Company has a negative net worth of Php7.425
billion.

Fiber Telecom was the only firm which offered to buy PhilCom.

CONTACT:

Philippine Global Communications, Inc.
Philcom Building 8755 Paseo de Roxas Avenue
1200 Makati City  
Philippines  
Telephone: 63 2 816 2851
Fax: 63 2 818 9720


SANITARY WARES: Insolvency Case Pending Before Insolvency Court
---------------------------------------------------------------
This is in reference to the news article entitled "Saniware
shareholders say firm not insolvent" published in the March 11,
2005 of The Manila Times.

The article reported that:

"SANITARY Wares Manufacturing Corporation (Saniware) 'is not
insolvent,' according to the lawsuit filed by its minority
shareholders, who said they would also be filing a case against
Saniware's parent Company, U.S.-based American Standard Group.

"The shareholders said they will file the suit at the U.S.
Securities and Exchange Commission since the firm is listed in
the U.S. American Standard owns 67.51 percent of Saniware and is
also its major creditor. Earlier, a petition was filed before
the Las Pinas Regional Trial Court by minority shareholders, who
said 'the filing of the insolvency proceedings and registration
of American Standard Group.'

"The Tieng family, G.D. Tan and Co.'s KLG International and
Solar Resources have filed the case in behalf of Saniware's
minority shareholders, including the Government Service
Insurance System, which bought 10 percent of Saniwares.

"According to the petition, the Company also has no basis for
calling it quits since it has not defaulted on any of its loans,
and has even availed itself of a credit facility with its major
depository bank for Php119 million. Another issue raised by the
minority group is that 80.5 percent of Saniware's debt worth
Php548.9 million is owed to its majority shareholder, American
Standard, which decided to stop lending to the firm."

In reply to the Exchange's query on the matter, Sanitary Wares
Manufacturing Corporation (the Company), in its letter dated
March 14, 2005, disclosed that:

"We reiterate that proceedings in respect of the Company's
insolvency are currently pending before Branch 253 of the
Regional trial Court of Las Pinas City (the Insolvency Court).
On March 4, 2005, the Company received an Opposition to the
Insolvency Petition of the Company filed by Willy Tieng, William
Tieng, Wilson Tieng, G.D. Tan & Company Inc., KLG International
Inc. and Solar Resources Inc. The subject of the newspaper
report is thus within the jurisdiction of the Insolvency Court.

"The Opposition was heard by the Insolvency Court on March 7,
2005. However, the Insolvency Court proceeded to the appointment
of an assignee, without prejudice to the Opposition. The Company
will continue to make the appropriate disclosures upon the
occurrence of any material developments."

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Sanitary Wares Manufacturing Corporation
Concha Cruz Drive
Barrio Almanza, Las Pinas City
Tel. No: 842-8950 to 55; 842-8738 to 40
Fax No: 809-3617
E-mail Address: asi.ph@amstd.com
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Bank of the Philippine Islands


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

ACCORD CUSTOMER: Enters Into Investment Agreement with SingPost
---------------------------------------------------------------
The Board of SingPost advised the Singapore Stock Exchange (SGX)
that it has entered into the investment agreement (Investment
Agreement) with Accord Customer Care Solutions Limited (ACCS) on
the basis of initial analysis on the strategic fit and synergies
with SingPost's logistics and retail business. The proposed
investment was brought to the Company's attention by DBS Bank.

After a thorough due diligence has been completed, SingPost will
then decide whether it will exercise its option to acquire up to
29.9% in ACCS by buying new shares at 30 cents each.

The Board would also like to reiterate that three of its
members, Messrs Lim Ho Kee, Tommie Goh and Tan Yam Pin, had
declared their interests in ACCS to the Board prior to the
Board's deliberation on the Investment Agreement.  SingPost had
also announced the interests of Messrs Lim Ho Kee, Tommie Goh
and Tan Yam Pin at the same time that the Company announced the
proposed investment in ACCS.

The Board acknowledged and considered the declarations of
interests of these directors in ACCS. These three directors had
also abstained from voting on the Investment Agreement and will
abstain from all decisions of all or any part of its option to
acquire ACCS shares.

The Board notes that Messrs Lim Ho Kee owns 8,128,350 shares,
Tommie Goh 80,000 shares and Tan Yam Pin 500,000 shares in
SingPost.

By Order of the Board of Directors
Singapore Post Limited
March 11, 2005

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


ECON INTERNATIONAL: Shareholders Approve Capital Reduction
----------------------------------------------------------
At the Extraordinary General Meeting (EGM) of Econ International
Limited held on February 23, 2005, the shareholders of the
Company approved (inter alia) the following capital reduction
exercise:

(i) The authorized share capital of the Company be reduced from
$200,000,000 divided into 1,000,000,000 ordinary shares of $0.20
each, of which a maximum of 558,328,206 ordinary shares have
been or will be issued and are fully paid-up or credited as
fully paid-up, to $1,000,000 divided into 1,000,000,000 ordinary
shares of $0.001 each, of which a maximum of 558,328,206
ordinary shares have been or will be issued and fully paid-up or
credited as fully paid-up, and that such reduction be effected
by:

(a) Canceling the paid-up share capital of the Company to the
extent of $0.199 on each of the maximum of 558,328,206 ordinary
shares which have been or will be issued and fully paid-up or
credited as fully paid-up; and

(b) Reducing the nominal amount of all ordinary shares, both
issued and unissued, from $0.20 to $0.001 each;

(ii) The amount of $66,462,528 standing to the credit of the
share premium account in the books of the Company as at March
31, 2004 be cancelled;

(iii) Subject to and forthwith upon the preceding paragraphs (i)
and (ii) taking effect, (the Capital Reduction 1), the aggregate
credit arising from Capital Reduction 1 be applied to write off
part of the accumulated losses of the Company as at March 31,
2004; and

(iv) Subject to and contingent upon the Capital Reduction 1
taking effect, the authorized capital of the Company be
increased to $10,000,000 by the creation of an additional
9,000,000,000 new ordinary shares of par value of $0.001 each.

Effective Date of Capital Reduction 1 The Board of Directors of
the Company is pleased to announce that the High Court had on
March 9, 2005 granted an order to confirm the Capital Reduction
1 pursuant to Section 73 of the Companies Act, Cap. 50 (the
Companies Act).

The Order of Court was lodged with the Accounting & Corporate
Regulatory Authority of Singapore on 11 March 2005 and,
accordingly, the Capital Reduction 1 takes effect on March 11,
2005.

Increase of Authorized Share Capital In conjunction with Capital
Reduction 1 taking effect, the authorized share capital of the
Company has increased to $10,000,000 divided into 10,000,000,000
ordinary shares of $0.001 each. The existing issued shares in
the capital of the Company comprises 554,687,206 ordinary shares
of $0.001 each.

Update on EIL Scheme (i) Allotment and issue of Scheme Shares At
the above EGM, shareholders had also approved the allotment and
issue of up to 4,500,000,000 new ordinary shares of $0.001 each
(the Scheme Shares) at an issue price of $0.015, credited as
fully paid-up, to the participating creditors (Participating
Creditors) in the Company's scheme of arrangement under section
210 of the Companies Act (the EIL Scheme), as full and final
settlement of amounts owing to them by the Company pursuant to
the EIL Scheme.

Based on approved claims that have crystallized as of 9 March
2005, a total of 3,320,305,543 Scheme Shares will be issued to
Participating Creditors. Such Scheme Shares will be issued on
the footing that they rank pari passu in all respects with the
existing issued ordinary shares in the Company and shall be free
from all liens, charges and other encumbrances.

These Scheme Shares will be allotted and issued on or about
March 15, 2005. (ii) Capital Reduction 2 Approval was also
received at the EGM for a further capital reduction exercise
(the Capital Reduction 2), which is to apply a sum of
$42,273,204 standing to the credit of the Company's share
premium account created through the issuance of the Scheme
Shares, to write of the balance of the Company's accumulated
losses at March 31, 2004.

The Company's application for the High Court's confirmation of
the Capital Reduction 2 is to be heard by the High Court on
March 16, 2005.

CONTACT:

Econ International Limited
2 Ang Mo Kio Street 64
Ang Mo Kio Industrial Park 3
Singapore 569084
Telephone: 65 64842222
Fax: 65 64842221/3
Web site: http://www.econ.com.sg


IPCO INTERNATIONAL: Concludes IPO Preparations
----------------------------------------------
The Board of Directors of Ipco International Limited advised the
Singapore Stock Exchange that subsequent to its successful
acquisition on April 7, 2004 of a 62.5% equity interest in ESA
Electronics Pte Ltd (ESA) from its three founders, Chan Wai Yin,
Chng Peng Hion and Koh William, and another existing
shareholder, Aehr Test Systems Inc (the Acquisition), the
Company, together with ESA, has since completed preparations to
undertake an Initial Public Offering of new ESA shares (IPO) and
procure the listing and admission of the ESA shares to the
Official List of the SGX-SESDAQ (the Proposed Listing).

The Board is pleased to announce that the listing application
for ESA has been submitted to the Singapore Exchange Securities
Trading Limited (SGX-ST).

Rationale For The IPO And Proposed Listing

The Directors believe that the Proposed Listing will not only
enhance the public image of the ESA Group, but will also
strengthen the financial position and business prospects of the
ESA Group for the following reasons:

(a) With its own listing, ESA will be able to gain financial
autonomy and direct access to capital markets. The Proposed
Listing will enable ESA to potentially tap into the capital
markets to fund its existing operations and future expansion
plans;

(b) A separate listing for ESA will enable investors to evaluate
the business of ESA independently from that of the Ipco Group,
thereby better reflecting the underlying value and growth
potential of ESA's business;

(c) A separate listing for ESA is also aimed at providing
incentive to the management team of the ESA Group to pursue
expansion and growth of the ESA Group's business by facilitating
the measurement of the performance of ESA's management team
independently from the Ipco Group.

With the trading liquidity of the ESA Shares after its status as
a public listed Company, the ESA Group will also be able to more
effectively implement its ESA ESOS, which is an incentive for
its management and employees, as well as to attract more
qualified professionals to join the ESA Group.

Following the Proposed Listing of ESA on the SGX-SESDAQ, the ESA
Group will be more financially independent. Hence, the Company
will be able to more efficiently channel its resources to focus
on its existing businesses and concentrate on future expansion
plans.

Conditions Precedent

The IPO and Proposed Listing is subject to, inter alia, the
following:

(a) The receipt of the letter from the SGX-ST of ESA's
eligibility-to-list on the SGX-SESDAQ;

(b) The approval of Shareholders and an Extraordinary General
Meeting (EGM) to be convened;

(c) The lodging and registration of the Prospectus with the
Monetary Authority of Singapore;

(d) The prevailing market conditions;

(e) The final approval of the directors of both the Company and
ESA closer to the launch of the IPO; and

(f) The obligations of the underwriter and placement agent of
the IPO under the underwriting and placement agreement in
connection with the IPO becoming unconditional and not being
terminated in accordance with the terms of such underwriting and
placement agreement or otherwise.

Shareholders' Approval Pursuant To Rule 805 of The SGX-ST
Listing Manual

As the listing of ESA will be through the public offering of new
ESA shares, Ipco's shareholding in ESA is anticipated to be
diluted from 62.5% to 44.1%.

Pursuant to Rule 805 (2) of the SGX-ST listing manual, the
dilution of more than 20% in a principal subsidiary of the
Company will require Shareholders approval. In view of this, a
Shareholders' circular containing relevant information relating
to the IPO and Proposed Listing will be dispatched in due course
to Shareholders seeking their approval for such resolutions to
be proposed at an EGM, which will be scheduled accordingly.

The Board will make an announcement on the notice of the EGM
when appropriate.

Others

As the IPO and Proposed Listing is at a preliminary stage and is
subject to approval from the relevant authorities, Shareholders
should exercise caution when dealing in the shares of the
Company. The Company will make further announcements on the
details of the IPO and Proposed Listing when appropriate.

By Order of the Board
Ipco International Limited
Quah Su-Ling
Chief Executive Officer

CONTACT:

Ipco International Limited
7 Temasek Boulevard 038987
SINGAPORE
Telephone: +65 2642711
Fax: +65 2642091/2641469  
Web site: http://www.ipco.com.sg/


NATSTEEL LIMITED: Unit Disposes Of 35.2% Equity
-----------------------------------------------
Natsteel Ltd announced in a disclosure to the Singapore Stock
Exchange that its wholly owned subsidiary Everen Investment Pte
Ltd (Everen) has disposed of its 35.2% equity comprising
4,100,000 ordinary shares as well as 17.4% equity comprising
36,743 ordinary shares in the issued capital of Thai Wah Plaza
Limited (TWPL) and Thai Wah Tower (2) Co Ltd (TWT2)
respectively.

The sale consideration for the shares of TWPL and TWT2 were Baht
4,100 and THB36 respectively. Both considerations were arrived
at on a willing buyer - willing seller basis. The net tangible
asset values of TWPL and TWT2 were negative THB262,622,339 and
THB296,933,196 respectively as at January 31, 2005.

Everen also received US$20.62 mil as full settlement of USD
22.95 mil promissory note owing from TWPL. Everen had earlier in
2004 received US$2.33 mil as partial payment of its promissory
note.

As at December 31, 2000, the promissory note was fully provided
for. With this receipt, the Natsteel group will record an
exceptional gain of US$20.62 mil (2003: US$2.33 mil) in this
financial year.

Upon completion of this transaction, TWPL and TWT2 will cease to
be associated companies of Natsteel.

With this transaction, the legal dispute between Everen and TWPL
is now resolved and the Natsteel group has no outstanding
material litigation matter as at the date hereof.

None of the directors or substantial shareholders of Natsteel
Ltd has any interest in this transaction.

By Order of the Board
Lim Su-Ling
Company Secretary
March 11, 2005

CONTACT:

NatSteel Limited
22 Tanjong Kling Road
Singapore 628048
Telephone: 65 62651233
Fax: 65 62658317
Web site: http://www.natsteel.com.sg


NEO CORPORATION: Creditor's Meeting Set March 30
------------------------------------------------
Take notice that a meeting of creditors of Neo Corporation Pte
Ltd (In Liquidation) will be held at SP Auditorium, 111 Somerset
Road #02-01, Singapore Power Building, Singapore 238164 on March
30, 2005 (Wednesday), at 2:30 pm.

AGENDA

(1) To consider and if thought fit to appoint a committee of
inspection; and

(2) Any other business.

Dated this 11th day of March 2005.

Chee Yoh Chuang
Lim Lee Meng
Liquidators
c/o Chio Lim & Associates
18 Cross Street #08-01
Marsh & McLennan Centre
Singapore 048423

(1) Proxies to be used at the meeting must be lodged not later
than 4:00 pm on March 29, 2005.

(2) To entitle you to vote thereat, your proof must be lodged
with the liquidators not later than 4:00 pm on March 28, 2005 if
you have not submitted your proof earlier to the judicial
managers or the liquidators.


SAPTA GLOBAL: Faces Winding Up Proceedings
------------------------------------------
In the matter of Sapta Global Trading Pte. Ltd., a winding up
order was made on March 4, 2005.

Name and address of the Liquidator:

Official Receiver
45 Maxwell Road #05-11/#06-11
The URA Centre (East Wing)
Singapore 069118

Dated this 7th day of March 2005

Rodyk & Davidson
Solicitors for the Petitioners
March 11, 2005

SOFTBANK CORPORATION: Details Share Sale, Issues
------------------------------------------------
Softbank Corp. announced to the Singapore Stock Exchange on
February 23, 2005 new share issues and sale of new shares in
Softbank Investment Corporation.

The Company reported estimated dilution gain from changes in
equity interest in accordance with determination of issue price
and sales price of new shares.

(1) Outline of new share issues via public subscription and
over-allotment (third-party allotment) Issue price and sales
price: 37,387 yen per share Number of shares to be newly issued

(i) Number of shares to be newly issued via public subscription:
1,250,000 shares

(ii) Number of shares to be newly issued through third-party
allotment: up to 187,500 shares (sale by over-allotment)

(2) Effect on consolidated financial results

Dilution gain from changes in equity interest is expected to be
recognized approximately between 12 and 14 billion yen as the
Company's special profit on a consolidated base in the 4th
quarter for the fiscal year ending March 31, 2005.


WEARNES INTERNATIONAL: Unit Acquires Interest in Pure-Ionics
------------------------------------------------------------
Wearnes International (1994) Limited advised the Singapore Stock
Exchange that its wholly-owned subsidiary, EPD Pureionics Pte.
Ltd. (EPD PI), has acquired a 100% interest in Pure-Ionics
Suzhou Co. Ltd. (PIS), a Company incorporated in the People's
Republic of China, for S$1,080,000.

The Acquisition was done on a willing buyer willing seller basis
and the net tangible asset of PIS as at February 28, 2005 was
S$758,000.  The consideration of S$1,080,000 for the Acquisition
was satisfied by:

(i) The issuance of 480,000 new ordinary shares of S$1 each at
par in EPD PI (consideration shares); and

(ii) Payment of S$600,000 in cash which was financed from the
internal resources of the Group.

The Company's interest in EPD PI was reduced to 80% after the
issuance of the consideration shares.

PIS is engaged in the design, supply and installation of ultra-
pure water treatment systems with membrane separation and ion
exchange technologies. This Acquisition will enable the Group to
provide a full range of technologies covering the complete
filtration spectrum from particle to reverse osmosis filtration.

The Acquisition will have no significant effect on the earnings
per share and the net tangible asset per share of the Group for
the current financial year.

None of the Directors or substantial shareholders of the Company
has any interest, direct or indirect, in the Acquisition.

Ong Kim Teck
Secretary
March 11, 2005

CONTACT:

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


YEW LEE: Requires Creditors to Prove Debt, Claims
-------------------------------------------------
Notice is hereby given that the creditors of Yew Lee Plastics
Pte Ltd which is being wound up voluntarily, are required on or
before April 10, 2005 to 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 undermentioned
Liquidator at Ernst & Young c/o 10 Collyer Quay, #21-01 Ocean
Building, Singapore 049315.

If so required by the liquidator, they are to come in and prove
their debt or claims as shall be specified or in default will be
excluded from the benefit of any distribution made before such
proof.

Dated this 11th day of March 2005

Seshadri Rajagopalan
Liquidator
March 11, 2005


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


EMC: Unveils Board Meeting Resolutions
--------------------------------------
EMC Public Company Limited advised the Stock Exchange of
Thailand (SET) that the Board of Directors Meeting No. 3/2005 of
held on March 11, 2005, approved the following resolutions.

(1) The board of directors has the resolution, which will be
submitted to the shareholders that the Company will omit
dividend payment for earning performance in 2004.

(2) The Annual General Meeting of Shareholders No. 1/2005 will
be held on April 28, 2005, at 10.00 a.m., at 22nd Floor, Rasa
Tower, 555 Phaholyothin Road, Jatuchak, Jatuchak, Bangkok
10900.

(3) The date for closing the Company's share register for the
right to attend the meeting will be on April 7, 2005, at 12:00
p.m. until the Annual General Meeting of Shareholders No. 1/2005
ended. The agenda for the meeting will be as follows:

(i) To certify the Minutes of Extraordinary General Meeting of
Shareholders No.1/2005

(ii) To report the operational result of the Company in 2004.

(iii) To approve the Company's balance sheets, profit and loss
statements as at 31st December 2004

(iv) To approve the declaration of no dividend payment for
earning performance in 2004

(v) To approve the appointment of new directors to succeed those
completing their terms, and their remuneration in 2005

(vi) To approve the appointment of an auditor, and to
determine an audit fee in 2005

(vii) To consider other issues (if any).

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


KRUNG THAI: To Ratify Approval of Transfer of Debtors to TAMC
-------------------------------------------------------------
The Board of Directors of Krung Thai Bank Public Co. Ltd. at its
meeting No. 15/2544 (576) on October 17, 2001, passed its
resolution to ratify the approval of the transfer of all
substandard debtors to TAMC.

It is stipulated in the Thai Asset Management Corporation Royal
Ordinance B.E. 2544 (2001), Section 30 that a financial
institution or assets management Company with the Financial
Institutions Development Fund or any combined government
agencies or state enterprises as its shareholders holding more
than fifty percent of paid-up registered capital shall transfer
all its substandard assets as at December 31, 2000 to the Thai
Asset Management Corporation (TAMC) within the period of time
specified by the TAMC.

Initially there will be about 60,000 cases/debtors and THB80,000
million of outstanding debts in total. Of these figures, the
Bank already transferred them 27 times. As for the 28th transfer
scheduled for March 15, 2005, it consists of the following
details:

Serial  Date  Number of  Book Value  Transfer   Transfer
number        cases      in          Price in      price to
                                  Million Baht  Million Baht  
                                                Outstanding

28  15 March 2005  3     64.72       34.83          53.81%

Note: Information on transfer as at March 15, 2005 is estimated
figures since it is still in the transfer process and for the
following transfer, exact date and amount have not been fixed  
yet.

Upon the Bank's transfer of substandard debtors to TAMC, it has
to completely verify the asset prices to be initially repaid
within 180 days.

If TAMC sees that such prices are correct, it will issue a
letter confirming the asset prices to be primarily paid to the
Bank within 7 days.

Concerning method of payment, TAMC will issue a nontransferable
promissory note on which the following details will be
specified:

- Amount of money according to the price of asset transferred to
TAMC

- Promissory note (P/N) issuing date according to the date of
asset transfer and due date of repayment upon the expiration of
10 years from the P/N issuing date with an aval by the Financial
Institutions Development Fund.

However, TAMC may exercise its right to redeem the P/N before
its maturity.

As for interest payment, TAMC will pay the interest on P/N to
the Bank according to the average interest on deposit by
calculating the interest as at the last working day of the year.

In addition, the above transactions are categorized as related-
party transactions but they are exempted according to Clause 8
(1) of the announcement of the Stock Exchange of Thailand (SET)
governing disclosure of related-party transactions, and the size
of the transaction when being fully transferred according to the
estimate will account for the rate of approximately 8.22 % of
the Banks total assets whereby the Bank does not have to comply
with the SET's announcement governing the acquisition or
disposal of assets of a registered Company.

Please be informed accordingly.

Yours sincerely,

Mr. Somanat Chutima
Senior Executive Vice President

CONTACT:

Krung Thai Bank Public Company Limited   
35 Sukhumvit Road, Khlong Toei Nua, Wattana Bangkok    
Telephone: 0-2255-2222   
Fax: 0-2255-9391-6   
Web site: http://www.ktb.co.th
  

THAI ELECTRONIC: Company Director Resigns
-----------------------------------------
Thai Electronic Industrial Public Company Limited informed the
Stock Exchange of Thailand that on March 9, 2005, Miss Sukanya
Prachuabmoh has submitted her letter of resignation from the
directorship to the Company.

For your kind acknowledgement

You're faithfully,
Mrs. Duangthip Earmrungroj
Director
Thai Electronic Industry Public Company Limited

CONTACT:

Thai Electronic Industry Pcl   
1/10 Moo 4, Bangchan Industrial Estate,
Bang Kapi, Bangkok    
Telephone: 0-2517-1276-8, 0-2517-1936   
Fax: 0-2517-1937, 0-2518-1471




BOND PRICING: For the Week 14 March to 18 March 2005
---------------------------------------------------

Issuer                            Coupon   Maturity  Price
------                            ------   --------  -----


AUSTRALIA
---------

Advantage Group                      10.000%     4/15/06    1
Ainsworth Game                        8.000%    12/31/09    1
Amcom Telecommunications Ltd         10.000%    10/28/07    2
APN News & Media Ltd                  7.250%    10/31/08    5
A&R Whitcoulls Group                  9.500%    12/15/10    8
Austral Coal                          9.500%    10/1/06     1
Australis Holdings                   15.000%    11/1/02     1
BIL Finance Ltd                       8.000%    10/15/07    8
BIL Finance Ltd                       8.750%    10/15/05   10
BIL Finance Ltd                       9.250%    10/15/06    8
Capital Properties NZ Ltd             8.500%     4/15/05    8
Capital Properties NZ Ltd             8.500%     4/15/07    8
Capital Properties NZ Ltd             8.500%     4/15/09    8
CBH Resources                         9.500%    12/16/09    1
Citigold Corporation                 12.000%     3/29/07    1
Consolidated Minerals                11.250%     3/31/05    4
Djerriwarrh Investments Ltd           6.500%     9/30/09    4
Evans & Tate Ltd                      8.250%    10/29/07    1
Fletcher Building Ltd                 7.800%     3/15/09    8
Fletcher Building Ltd                 7.900%    10/31/06    8
Fletcher Building Ltd                 8.300%    10/31/06    8
Fletcher Building Ltd                 8.600%     3/15/08    7
Fletcher Building Ltd                 8.750%     3/15/06    8
Fletcher Building Ltd                 8.850%     3/15/10    8
Fletcher Building Ltd                10.500%     4/30/05    8
Fernz Corp Ltd                        8.560%    10/15/06    8
Futuris Corporation Ltd               7.000%    12/31/07    2
Hy-Fi Securities Ltd                  7.000%     8/15/08    7
Hy-Fi Securities Ltd                  8.750%     8/15/08   10
Hutchison Telecoms Australia          5.500%     7/12/07    1
Nuplex Industries Ltd                 9.300%     9/15/07    8
Pacific Print Group Ltd.             10.250%    10/15/09   10
Primelife Corp.                      9.500%     12/8/06     1
Prime Infrastructure                 8.500%      2/28/49   10
Prime Infrastructure                 8.500%     12/31/49   10
Salomon SB Australia                  4.250%     2/01/09    8
Sherlock Bay Nickel                  12.000%      9/1/07    1
Sky Network Television Ltd            9.300%    10/29/49    8
Software of Excellence                7.000%     8/09/07    1
Strathfield Group                    11.000%    12/31/05    1
Sydney Gas Company                   12.000%     4/1/06     1
Tower Finance Ltd                     8.650%    10/15/09    8
Tower Finance Ltd                     8.750%    10/15/07    8
TrustPower Ltd                        8.300%     9/15/07    7
TrustPower Ltd                        8.500%     9/15/12    7
TrustPower Ltd                        8.500%     3/15/14    8
Urbus Properties Ltd                  9.250%     3/10/07    1
Vision Systems Ltd                    9.000%    12/15/08    2

CHINA
-----

China Government Bond                  2.900%    5/24/32   71


KOREA
-----

Korea Electric Power                   7.950%     4/1/96   45


MALAYSIA
--------

Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/06/07    1
Berjaya Group Bhd                      5.000%     10/17/09    1
Berjaya Land Bhd                       5.000%     12/30/09    1
Berjaya Sports Toto Bhd                8.000%      8/04/12    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Crest Builder                          7.000%      2/24/06    2
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
Equine Capital                         3.000%      8/26/08    1
Fountain View Development Sdn Bhd      3.500%      11/3/06    5
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Greatpac Holdings Bhd                  2.000%     12/11/08    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    1
I-Berhad                               5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Killinghall Bhd                        5.000%      4/13/09    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Jetson                        5.000%     11/27/12    1
LBS Bina Group Bhd                     4.000%     12/31/06    1
LBS Bina Group Bhd                     4.000%     12/31/07    1
LBS Bina Group Bhd                     4.000%     12/31/08    1
LBS Bina Group Bhd                     4.000%     12/31/09    1
Lebar Daun Bhd                         2.000%       1/6/07    6
Lion Diversified Holdings Bhd          2.000%       6/1/09    1
Media Prima Bhd                        2.000%      7/18/08    1
Mithril Bhd                            3.000%       4/5/12    1
Mithril Bhd                            8.000%       4/5/09    1
Mutiara Goodyear Development Bhd       2.500%      1/15/07    1
Naim Indah Corp.                       0.500%      8/24/06    1
NAM Fatt Corporation Bhd               2.000%      6/24/11    1
Orlando Holdings Bhd                   3.000%      3/16/05    1
Pantai Holdings                        5.000%      3/28/07    1
Patimas Computer                       6.000%      2/19/06    1
Poh Kong Holdings                      3.000%      1/20/07    1
Prinsiptek Corporation Bhd             2.000%     11/20/06    1
Puncak Niaga Holdings Bhd              2.500%     11/18/16    1
Ramunia Holdings                       1.000%     12/20/07    1
Rashid Hussain Bhd                     0.500%     12/23/12    1
Rashid Hussain Bhd                     1.500%     6/30/07    75
Rashid Hussain Bhd                     3.000%     12/23/12    1
Rhythm Consolidated Bhd                5.000%     12/17/08    1
Silver Bird Group Bhd                  1.000%      2/15/09    1
Southern Steel                         5.500%      7/31/08    2
Tanah Emas Corporation Bhd             2.000%      12/9/06    1
Talam Corporation Bhd                  7.000%      7/19/05    1
Talam Corporation Bhd                  7.000%      4/19/06    1
Tap Resources Bhd                      2.000%      6/29/06    1
Tenaga Nasional Bhd                    3.050%      5/10/09    1
VTI Vintage Bhd                        4.000%      8/22/06    1
WCT Land Bhd                           3.000%      8/02/09    1
Wah Seong Corp                         3.000%      5/21/12    3


SINGAPORE
---------

CSC Holdings Ltd                       6.500%      4/27/05    1
Rabobank Singapore                     1.000%      1/15/13   74
Sengkang Mall                          8.000%     11/20/12    1
Tampines Assets Ltd                    5.625%      12/7/06    1
Tincel Limited                         7.400%       6/13/11   1





                            *********


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

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                 *** End of Transmission ***