/raid1/www/Hosts/bankrupt/TCRAP

/raid1/www/Hosts/bankrupt/TCRAP_Public/050412.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, April 12, 2005, Vol. 8, No. 71 Headlines A U S T R A L I A ACCOMMODATION PTY: Begins Winding Up Proceedings ALL APRICOT: To Declare Final Dividend April 18 BANKSTOWN FORMWORK: Posts Final Dividend Notice BRAEMAR-STG PTY: To Hold Final Meeting April 19 CHASESIDE PTY: Members Agree to Wind Up Company CHITTICK BROS: To Hear Liquidator's Winding Up Report C&N SVINOS: Lays Out Final Meeting Agenda DAMNATION PTY: Court Names Christopher J. Palmer as Liquidator DARWIN CITY: Council Forces Promoter to Shut Up Shop DENPAMERIC PTY: To Convene Final Meeting April 14 HIH INSURANCE: Ex-Execs Just One Step Close to Prison INFOSAN PTY: Sets April 18 as Date of Final Meeting JORDY HOLDINGS: To Undergo Winding Up Process LONRAD PTY: Picks Liquidators Wind Up Company MICANNA PTY: Liquidator to Explain Manner of Winding Up MULTIPLEX: Wembley Woes Drive Share Price Slide NIGHTCOM PTY: Final General Meeting Set April 14 NUXANA PTY: Members to Meet April 15 OZELOT INVESTMENTS: Resolves to Wind Up Company RN & NR: To Wind Up Voluntarily SANTOS LIMITED: Jeruk 3D Seismic Survey Kicks Off SOUTHEND TRUCK: Final Meeting Set April 13 UNIQUE POOLS: Served with Winding Up Order VECTOR PTY: Names Christopher Anthony Coulton as Liquidator WESTBUS: Administrators Win Reprieve * Nightclub Operator Faces the Music C H I N A & H O N G K O N G CANADA INDUSTRIAL: To Hold Creditors, Contributories Meeting CHUN FAI: Receives Bankruptcy Order HONGKONG STARLITE: Issues Debt Claim Notice HONG KONG NORTH: Enters Winding Up Proceedings KAMMY TOWN: Court Releases Winding Up Notice MASS POND: Winding Up Hearing Set for May 18 MORNING STAR: Net Loss Widens to HK38.9 Mln SUPER KING: Enters Winding Up Proceedings TRUSTASIA LIMITED: Served with Winding Up Notice TISI LIMITED: Proofs of Debt, Claims Due May 9 TUNG YUEN: Court to Hear Liquidator's Application I N D O N E S I A BANK DANAMON: Moody's Upgrades Debt Rating to B2 PERTAMINA: Builds Tankers to Transport Gas Nationwide PERTAMINA: Government to Reimburse IDR4 Trillion in Subsidies PERTAMINA: Lack of Funds Hampers LNG Cargo Purchase J A P A N FUJITSU LIMITED: Sharp Keen on LCD Device Business HITACHI LIMITED: To Book JPY66-Bln Special Loss on Restructuring MEISEI SHOKAI: IRCJ Receives Debt Payment in Full MITSUBISHI MOTORS: Australia May Run Out of Cars to Sell SANYO ELECTRIC: New Head to Refocus on Overseas Markets SOFTBANK CORPORATION: Sells Shareholdings in Mornings SOJITZ HOLDINGS: Converts Unsecured Bonds into Common Stock TOSHIBA CORPORATION: Unit Cuts Ties With Electrolux K O R E A JINRO LIMITED: Labor Union Protests Takeover by Hite M A L A Y S I A ANTAH HOLDINGS: Issues Monthly Default Status Update BELL & ORDER: Must Pay Claims to SBB BOUSTEAD HOLDINGS: Set to List Additional Shares BUKIT KATIL: Bourse Extends Requisite Announcement Date FABER GROUP: To Hold AGM on May 5 GENERAL SOIL: Violates Listing Requirements GOLDEN FRONTIER: Buys Back 2,000 Shares MYCOM BERHAD: Proposed Scheme Completion Extended to Sept. 30 NAIM INDAH: Unit Posts Zero Log Production for March 2005 OLYMPIA INDUSTRIES: SC Extends Scheme Completion Period PANGLOBAL BERHAD: Unit Posts March Production Figures PAN MALAYSIA: Repurchases 60,000 Shares PANTAI HOLDINGS: To List Extra Shares on April 13 UNITED CHEMICAL: Sees No Change in Default in Payments WEMBLEY INDUSTRIES: Bourse Mulls Delisting P H I L I P P I N E S BACNOTAN CONSOLIDATED: PHINMA Notes Changes in Shareholdings COLLEGE ASSURANCE: SEC May Block Access to Trust Fund COLLEGE ASSURANCE: Oversight Panel Completes Report MANILA ELECTRIC: May Buy Transco Assets This Year MAYNILAD WATER: DMCI Eyes Buyout NATIONAL POWER: DOF Permits Float of Php5-Bln Bonds PHILIPPINE NICKEL: Surigao Execs Laud PGMA on Mine Support SWIFT FOODS: RFM Places 10,947,678 Preferred Shares VANTAGE PENSION: Investors Face SEC Scrutiny VICTORIAS MILLING: Posts Change in Directors' Holdings S I N G A P O R E BRIDGEMENT INTERNATIONAL: Proofs of Debt, Claim Due May 9 COGENT DEVELOPMENT: Faces Winding Up Petition GABERON PTE: Fixes May 9 as Date of Final Meeting GLOBAL VOICE: To Provide University in Frankfurt with CWDM GLOBAL VOICE: Unveils New ESOS Committee Members HOTLINE INDUSTRIES: Enters Winding Up Process HUA ANN: Receiving Proofs of Claims Until May 8 MICROLITE SINGAPORE: Requires Creditors to Prove Debt May 9 RICHFIELD INNOVATIONS: To Pay Dividend April 18 T H A I L A N D HANTEX: Shareholders Approve New Capital Hike ADVANCE PAINT: Board Notifies SET on Meeting Resolutions BOND PRICING: For the Week 11 April to 15 April 2005 - - - - - - - - ================= A U S T R A L I A ================= ACCOMMODATION PTY: Begins Winding Up Proceedings ------------------------------------------------ On March 1, 2005 the Supreme Court of New South Wales made an Order that Accommodation Pty Limited (In Liquidation) A.C.N. 093 561 767 be wound up by the Court and appointed A. H. J. Wily to be Liquidator. A. H. J. Wily Official Liquidator Armstrong Wily & Co Level 5, 75 Castlereagh Street, Sydney NSW 2000 ALL APRICOT: To Declare Final Dividend April 18 ----------------------------------------------- A First and Final dividend to ordinary unsecured creditors is to be declared on April 18, 2005 for All Apricot Pty Limited (In Liquidation) A.C.N. 078 474 996. Creditors who were not able to formally prove their debt or claims will be excluded from the benefit of the dividend. Dated this 2nd day of March 2005 Murray Godfrey Liquidator RMG Partners Suite 67, Level 14/88 Pitt Street, Sydney NSW 2000 Telephone: (02) 9231 0889 BANKSTOWN FORMWORK: Posts Final Dividend Notice ----------------------------------------------- A first and final dividend is to be declared on April 18, 2005 for Bankstown Formwork & Constructions Pty Ltd (In Liquidation) A.B.N. 41 050 108 515. 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 March 2005 G. T. Hancock Liquidator Horwath Sydney Partnership Level 10, 1 Market Street, Sydney NSW 2000 BRAEMAR-STG PTY: To Hold Final Meeting April 19 ----------------------------------------------- Notice is hereby given that a meeting of the Members and Creditors of Braemar-Stg Pty Limited (In Liquidation) A.C.N. 001 367 504 will be held at Hall Chadwick Level 29, 31 Market Street, Sydney NSW 2000 on April 19, 2005 at 11:00 a.m. The meeting will be a Final Meeting in accordance with Section 509 of the Corporations Act 2001. BUSINESS (1) To receive a report from the Liquidator, being an account of his acts and dealings and of the conduct of the winding up during the period of the liquidation ending on April 19, 2005. (2) That subject to any provisions under the Corporations Act 2001 to the contrary, the Liquidator be empowered to destroy all books and records of the companies on completion of all duties. (3) Any other business. Geoffrey McDonald Liquidator c/- Hall Chadwick Level 29, 31 Market Street, Sydney NSW 2000 CHASESIDE PTY: Members Agree to Wind Up Company ----------------------------------------------- Notice is hereby given that at a general meeting of members held on February 22, 2005 it was resolved that Chaseside Pty Ltd (In Liquidation) A.C.N. 002 707 280 would be wound up voluntarily and that Stephen Keith Preen of Level 19, 207 Kent Street, Sydney NSW 2000 be appointed Liquidator for the purpose. Dated this 24th day of February 2005 Stephen K. Preen Liquidator CHITTICK BROS: To Hear Liquidator's Winding Up Report ----------------------------------------------------- Notice is hereby given in pursuance of subsection 509(3) and (4) of the Corporations Act 2001 that a General Meeting of the Members of Chittick Bros Pty Ltd (In Voluntary Liquidation) A.C.N. 000 443 925 will be held on April 15, 2005 at 10:00 a.m. at the office of Cronin & Norris, 47 Manning Street Kiama NSW 2533 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 explanation that may be given by the Liquidators. Dated this 4th day of March 2005 R. J. Norris Liquidator Cronin & Norris PO Box 8, Kiama NSW 2533 C&N SVINOS: Lays Out Final Meeting Agenda ----------------------------------------- Notice is given pursuant to Section 509(2) of the Corporations Act 2001 that a Final Meeting of the Members and Creditors of C&N Svinos Enterprises Pty Limited (In Liquidation) A.C.N. 091 496 767 will be held at Ngan & Co, Level 5, 49 Market Street, Sydney NSW 2000 on Tuesday, April 19, 2005 at 10:10 a.m. AGENDA (1) To receive an account made up by the Liquidator showing how the winding up has been conducted, the property of the Company has been disposed of and to receive any explanation required thereof. (2) To consider any other business brought before the meeting. Dated this 7th day of March 2005 P. Ngan Liquidator DAMNATION PTY: Court Names Christopher J. Palmer as Liquidator -------------------------------------------------------------- On February 28, 2005 the Supreme Court of New South Wales, Equity Division, made Orders that Christopher J. Palmer be appointed Official Liquidator of Damnation Pty Limited (In Liquidation) A.C.N. 088 099 932. Dated this 15th day of March 2005 Christopher J. Palmer Official Liquidator O'Brien Palmer Level 4, 23 Hunter Street, Sydney NSW 2000 DARWIN CITY: Council Forces Promoter to Shut Up Shop ---------------------------------------------------- Darwin City Promotions opted to wind up its operations and appoint a liquidator in the wake of a mass resignation of its 11 board members, Northern Territory News reports. The firm made the move after Darwin City Council agreed to halve the promotional levy for businesses, put the promotions contract for tender and no longer collects the promotional levy past June. The Company went into liquidation, saying the absence of the levy left it with no other guaranteed source of funds. "If the board decided we would continue to trade and compete in the tender, if we were not successful, we would have no income and this Company could become insolvent," the firm's chairman Chris Horn said. The council's decision was motivated by Local Government Minister John Ah Kit calling for more transparency with the organization. But Mr. Horn said Darwin City Promotions was transparent. Mr. Horn added there was still money left in the organization's account, which will be used to pay staff entitlements plus the lease and other financial obligations. Darwin City Promotions promotes and markets Darwin City and the services and facilities available within Darwin City. CONTACT: Darwin City Promotions Web site: http://www.darwincity.net/ DENPAMERIC PTY: To Convene Final Meeting April 14 ------------------------------------------------- Notice is given that a final general meeting of members of Denpameric Pty Ltd (In Liquidation) will be held at the offices of Hill Rae & Embrey 1st Floor 193 Clarence Street, Sydney on April 14, 2005 at 10:00 a.m. for the purpose of laying before it the liquidators final accounts showing how the winding up has been conducted and how the property has been disposed of and for hearing any explanation that may be given by the liquidator. Dated this 3rd day of March 2005 Graeme R. Varis Liquidator Hill Rae & Embrey 1/193 Clarence Street, Sydney NSW 2000 Telephone: (02) 9262 6199 HIH INSURANCE: Ex-Execs Just One Step Close to Prison ----------------------------------------------------- Two former directors of failed HIH Insurance may go to jail this week, with both facing sentencing decisions in the NSW Supreme Court, The Australian relates. Rodney Adler will receive his verdict after Mr. Justice Dunford hands down his sentence on Thursday. Ray Williams, on the other hand, will learn his fate on Friday. Mr. Adler has pleaded guilty to four charges that carry a maximum sentence of five years each. Two are involved with making false statements over the purchase of HIH shares in June 2000. The other two come as a result of his actions in inducing HIH to invest AU$2 million in an Adler-controlled Company, Business Thinking Systems, in the same year. Mr. Williams last December pleaded guilty to three charges that may carry a total jail sentence of 12 years. These include signing a misleading letter in connection with a US$150 million FAI note program in 2000, authorizing a prospectus with a material omission in 1998 and making or authorizing misleading statements in HIH's 1999 annual report, which overstated its profit by more than AU$92 million. ASIC has argued for custodial jail sentences in both cases. Another former senior HIH executive, William Howard, was sentenced to three years jail in December 2003 on two counts of criminal misconduct. But the sentence was suspended because of his promise to assist the Australian Securities and Investments Commission with its investigations into the HIH collapse. The largest corporate collapse in Australian history, HIH liquidation in 2001 was the largest corporate collapse in Australian history, with a potential deficiency of about AU$5.3 billion. INFOSAN PTY: Sets April 18 as Date of Final Meeting --------------------------------------------------- Notice is given pursuant to Section 509 of the Corporations Act 2001 that a joint meeting of the members and creditors of Infosan Pty Limited (In Liquidation) A.C.N. 058 635 920 will be held at the offices of Horwath Sydney Partnership, Level 10, 1 Market Street, Sydney NSW 2000, on Monday, April 18, 2005, at 10:00 a.m., for the purpose of having an account laid before them showing the manner in which the winding up has been conducted and the property of the Company disposed of and of hearing any explanations that may be given by the Liquidator. Dated this 3rd day of March 2005 G. T. Hancock Liquidator Horwath Sydney Partnership Level 10, 1 Market Street, Sydney NSW 2000 JORDY HOLDINGS: To Undergo Winding Up Process --------------------------------------------- On March 3, 2005, the Supreme Court of New South Wales, Equity Division, made an order that Jordy Holdings Pty Ltd (In Liquidation) A.C.N. 000 805 238 be wound up by the Court and appointed Steven Nicols to be Official Liquidator. Steven Nicols Level 2, 350 Kent Street, Sydney NSW 2000 LONRAD PTY: Picks Liquidators Wind Up Company --------------------------------------------- Notice is hereby given that at an extraordinary general meeting of members of Lonrad Pty Ltd A.C.N. 001 462 095 held on March 2, 2005, it was resolved that the Company be wound up voluntarily and it was resolved for such purpose, Chris Barnes of Level 13, 122 Arthur Street, North Sydney be appointed as liquidator. Dated this 7th day of March 2005 A. H. Jordan Director MICANNA PTY: Liquidator to Explain Manner of Winding Up ------------------------------------------------------- Notice is given pursuant to Section 509(2) of the Corporations Act 2001 that a Final Meeting of the Members and Creditors of Micanna Pty Limited (In Liquidation) A.C.N. 086 944 747 will be held at Ngan & Co, Level 5, 49 Market Street, Sydney NSW 2000 on Tuesday, April 19, 2005 at 10:00 a.m. AGENDA (1) To receive an account made up by the Liquidator showing how the winding up has been conducted, the property of the Company has been disposed of and to receive any explanation required thereof. (2) To consider any other business brought before the meeting. Dated this 7th day of March 2005 P. Ngan Liquidator MULTIPLEX: Wembley Woes Drive Share Price Slide ----------------------------------------------- Multiplex shares continue to plunge even as the Company detailed new initiatives, in a bid to regain investor confidence of investors still angry over the Wembley fiasco, The West Australian reports. Multiplex has told its investors that it was reviewing the composition of its board, but later refused to comment on whether the Roberts family's positions would be affected. The family influence over Multiplex and the group's transition from family to publicly listed Company has come under investor scrutiny since it stunned investors in February by wiping off the expected profit on its high-profile contract to rebuild London's Wembley stadium. Multiplex said construction of Wembley was reaching the final stages and remained on track to meet its December completion date. Aside from its Wembley woes, Multiplex has also been hit by an AU$50-million extortion attempt, which disrupted crane crews on sites in Melbourne and Perth. 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 NIGHTCOM PTY: Final General Meeting Set April 14 ------------------------------------------------ Notice is given that a final general meeting of members of Nightcom Pty Ltd (In Liquidation) will be held at the offices of Hill Rae & Embrey 1st Floor 193 Clarence Street, Sydney on April 14, 2005 at 11:00 a.m. for the purpose of laying before it the liquidators final accounts showing how the winding up has been conducted and how the property has been disposed of and for hearing any explanation that may be given by the liquidator. Dated this 3rd day of March 2005 Graeme R. Varis Liquidator Hill Rae & Embrey 1/193 Clarence Street, Sydney NSW 2000 Telephone: (02) 9262 6199 NUXANA PTY: Members to Meet April 15 ------------------------------------ Notice is hereby given that pursuant to section 509 of the Corporations Law, the final meeting of members of Nuxana Pty. Limited (In Liquidation) A.C.N. 002 553 666 will be held at Unit 2, 53 Pentecost Avenue Pymble NSW, on April 15, 2005 at 4:00 p.m. for the purpose of laying before the meeting the liquidator's final account and report and giving any explanation thereof. Dated this 15th day of March 2005 Carolyn Ann Pierce Unit 2, 53 Pentecost Avenue, Pymble NSW 2073 OZELOT INVESTMENTS: Resolves to Wind Up Company ----------------------------------------------- At a General Meeting of Ozelot Investments Pty Ltd (In Liquidation), duly convened and held at Unit 14, 25 Wolseley Road, Point Piper, NSW 2027 on February 16, 2005 the following resolutions were passed: SPECIAL RESOLUTION That the Company be wound up voluntarily. ORDINARY RESOLUTION That Mr. David Robinson be appointed liquidator for the purpose of such winding up. Dated this 16th day of February 2005 David Robinson Liquidator Harveys Chartered Accountants Level 3, 2 Bulletin Place, Sydney NSW 2000 RN & NR: To Wind Up Voluntarily ------------------------------- At a General Meeting of RN & NR Tolson Investments Pty Ltd (In Liquidation), duly convened and held at 108 Mulgrave Road, Mulgrave, NSW 2756 on February 16, 2005 the following resolutions were passed: SPECIAL RESOLUTION That the Company be wound up voluntarily. ORDINARY RESOLUTION That Mr. David Robinson be appointed liquidator for the purpose of such winding up. Dated this 16th day of February 2005 David Robinson Liquidator Harveys Chartered Accountants Level 3, 2 Bulletin Place, Sydney NSW 2000 SANTOS LIMITED: Jeruk 3D Seismic Survey Kicks Off ------------------------------------------------- Cue Energy Resources Limited is pleased to report that Jeruk 3 (3D) dimensional seismic survey acquisition, operated by Santos Limited, has begun in the Sampang Production Sharing Contract, offshore East Java, Indonesia. Acquisition of 3D field data is expected to take to the end of April to be followed by around three months of data processing. The survey is designed to provide better seismic control over the Jeruk discovery and over nearby undrilled prospects. Acquisition of 3D seismic data over the eastern end of the Samoang Production Sharing Contract area has been completed and the data is being processed. Information from the eastern survey will be used to potentially locate drilling locations for wild cat wells to be drilled in the second half of 2005. Oyong Participants Participants in the Smapang PSC are: Cue Sampang Pty Ltd 15% Santos Pty Ltd 45% (Operator) Singaporean Petroleum Company Limited 40% CONTACT: Santos Limited Ground Floor, Santos House, 91 King William Street, Adelaide, S.A. 5000 Web site: http://www.santos.com.au/ SOUTHEND TRUCK: Final Meeting Set April 13 ------------------------------------------ Notice is hereby given that a Final Meeting of Creditors and Members of Southend Truck & Trailer Pty Limited (In Liquidation) A.C.N. 002 647 574 will be held at the office of Nicholls & Co. Chartered Accountants, Suite 103, 1st Floor, Wollundry Chambers, Johnston Street, Wagga Wagga, New South Wales on April 13, 2005 at 9:00 a.m. for the purpose of receiving the Liquidator's account showing how the winding up has been conducted and the property of the Company disposed of and hearing any explanation which may be given by the Liquidator. Dated this 2nd day of March 2005 C. M. Chamberlain Liquidator c/- Nicholls & Co Chartered Accountants PO Box 852, Wagga Wagga NSW 2650 UNIQUE POOLS: Served with Winding Up Order ------------------------------------------ On February 28, 2005 the Supreme Court of New South Wales, Equity Division, made Orders that Christopher J. Palmer be appointed Official Liquidator of Unique Pools & Spas Pty Limited (In Liquidation) A.C.N. 003 532 009. Dated this 15th day of March 2005 Christopher J. Palmer Official Liquidator O'Brien Palmer Level 4, 23 Hunter Street, Sydney NSW 2000 VECTOR PTY: Names Christopher Anthony Coulton as Liquidator ----------------------------------------------------------- Notice is hereby given that at a General Meeting of Vector Pty Limited (In Liquidation) A.C.N. 000 248 297 held on February 28, 2005 it was resolved that the Company be wound up voluntarily as a Members' Voluntary Winding up and that for such a purpose, Christopher Anthony Coulton be appointed liquidator. Dated this 3rd day of March 2005 Christopher Anthony Coulton Liquidator WESTBUS: Administrators Win Reprieve ------------------------------------ The administrators of failed Westbus won a 60-day adjournment to prepare for their second creditors meeting, says The Australian Associated Press. Administrator Peter Yates of Deloitte had successfully applied to the Supreme Court for the extension, which would allow him to continue with the sale process. Mr. Yates said he had more than 50 expressions of interest in the Company from Australia and overseas. Mr. Yates said the sale process was just commencing and once all buyers had been identified it would take around three months to complete. Meanwhile, transport Workers Union assistant state secretary Wayne Forno said he was concerned about the sale process and workers entitlements. Westbus went into voluntary administration with debts of AU$90 million in February after failing to renegotiate a loan. CONTACT: Westbus Pty Ltd Level 12, 100 George Street Parramatta, NSW 2150 Web site: http://www.westbus.com.au * Nightclub Operator Faces the Music ------------------------------------ The Australian Securities and Investments Commission (ASIC) has banned Mr. John Hannay, of Brisbane, from managing corporations for five years. ASIC banned Mr. Hannay for the maximum period permissible under the law after an investigation found that he had been a director of eight failed companies including Geecrest Pty Limited, Trexcorp Pty Limited, Nestmere Pty Limited, Permalex Pty Limited (Permalex), Derryford Pty Limited, Mossroy Pty Limited (Mossroy), Widevale Pty Limited and Wildlodge Pty Limited. The failed companies primarily operated nightclubs in and around the Brisbane CBD and Gold Coast areas. Mossroy traded as The Beat Nightclub and Permalex traded as Options Nightclub. ASIC found that Mr. Hannay's conduct included breaches of the Corporations Act 2001 relating to directors duties, the requirement to keep proper books and records and the requirement to assist in the orderly and proper winding up of the companies, and that these breaches constituted serious misconduct. Mr. Hannay's companies were reported by their liquidators to be unable to pay creditors more than 50 cents in the dollar. Their debts now total over $1.2 million, with significant amounts owing to the Australian Taxation Office and Workcover. Other creditors include Rentokil Initial Pty Ltd, Energex, Australian Performing Rights Association Limited and Telstra Corporation Limited. 'ASIC will not hesitate to take banning action to protect consumers and the business community against directors who do not carry out their duties properly' ASIC's Director of Complaints Compliance Action, Mr. Adrian Borchok said. Mr. Hannay has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision. ============================== C H I N A & H O N G K O N G ============================== CANADA INDUSTRIAL: To Hold Creditors, Contributories Meeting ------------------------------------------------------------ Canada Industrial Company Limited posted in a notice made to The Standard that it would hold meetings at the following date and time: Date of Meetings: April 21, 2005 (Thursday) Creditors: At 10 a.m. Contributories: At 11 a.m. Place: At the Official Receiver's Office, 10th Floor, Queensway Government Offices, 66 Queensway, Hong Kong. Dated this 8th day of April 2005. E T O'Connell Official Receiver & Provisional Liquidator CHUN FAI: Receives Bankruptcy Order ----------------------------------- Notice is hereby given that a Bankruptcy Order against Wong Kin Fai Trading as Chun Fai Transportation Co. was made on March 23, 2005. All debts due to the estates should be paid to the undersigned. Dated this 8th day of April 2005. ET O'CONNELL Official Receiver HONGKONG STARLITE: Issues Debt Claim Notice ------------------------------------------- Notice is hereby given that the creditors of HongKong Starlite Company Limited, which is being voluntarily wound up, are required on or before the close of business on May 9, 2005, to send in their names, addresses and particulars of their debts or claims, and the name and address of their solicitors to the undersigned and Mr. John Toohey, the Joint and Several Liquidators of the said Company. If so required in writing from the said Liquidator, they are to come in by their solicitors or personally and prove the said debts or claims at such time and place as shall be specified in such notice. In default thereof they will be excluded from the benefit of any distribution made before such debts are proved. Dated this 8th day of April 2005. Rainier Hok Chung Lam Joint and Several Liquidator 22/F., Prince's Building Central, Hong Kong HONG KONG NORTH: Enters Winding Up Proceedings ---------------------------------------------- Notice is hereby given that a Petition for the Winding up of Hong Kong North West Express Limited by the High Court of Hong Kong Special Administrative Region was on February 17, 2005 presented to the said Court by Barlow Lyde & Gilbert situated at Suite 1901, 19th Floor, Cheung Kong Center, 2 Queen's Road Central, Hong Kong. The said Petition is to be heard before the Court at 9:30 a.m. on the April 20, 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. BARLOW LYDE & GILBERT Solicitors for the Petitioner Suite 1901, 19th Floor Cheung Kong Center 2 Queen's Road Central 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 19, 2005. KAMMY TOWN: Court Releases Winding Up Notice -------------------------------------------- Notice is hereby given that a Petition for the Winding up of Kammy Town Limited by the High Court of Hong Kong Special Administrative Region was on March 23, 2005 presented to the said Court by Cheung Hon Wah of 11th Floor, 25 Soares Avenue, Homantin, Kowloon, Hong Kong. The said Petition is to be heard before the Court at 9:30 a.m. on May 25, 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. MESSRS. KITTY SO & TONG Solicitors for the Petitioner 9th Floor, Asia Standard Tower 59-65 Queen's Road Central Central, Hong Kong Tel: 2524 5061 Fax: 2525 8481 Note: Any person who intends to appear on 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 May 24, 2005. MASS POND: Winding Up Hearing Set for May 18 -------------------------------------------- Notice is hereby given that a Petition for the Winding up of Mass Pond Limited by the High Court of Hong Kong Special Administrative Region was on the March 16, 2005 presented to the said Court by Bank of China (Hong Kong) Limited (the successor banking corporation to Kincheng Banking Corporation pursuant to Bank of China (Hong Kong) Limited (Merger) Ordinance (Cap.1167) whose registered office is situated at 14th Floor, Bank of China Tower, 1 Garden Road, Hong Kong. The said Petition is to be heard before the Court at 9:30 a.m. on the May 18, 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. CHU & LAU Solicitors for the Petitioner 2nd Floor, The Chinese General Chamber of Commerce Building No. 24-25 Connaught 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 May 17, 2005. MORNING STAR: Net Loss Widens to HK38.9 Mln ------------------------------------------- Morning Star Resources Limited (00542) announced its financial results from the period ended December 31, 2004. Year-end date: 31/12/2004 Currency: HKD Auditors' report: Unqualified (Audited) (Audited) Current Last Corresponding Period Period from 01/01/2004 from 01/01/2003 to 31/12/2004 to 31/12/2003 Note ('000) ('000) Turnover : 494,659 442,717 Profit/(Loss) from Operations : (41,165) (18,384) Finance cost : (3,972) (6,653) Share of Profit/(Loss) of Associates : 2,576 2,275 Share of Profit/(Loss) of Jointly Controlled Entities : (567) (276) Profit/(Loss) after Tax & MI : (38,955) (23,928) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) 1: (0.016) (0.01) -Diluted (in dollars): N/A N/A Extraordinary (ETD) Gain/(Loss): N/A N/A Profit/(Loss) after ETD Items: (38,955) (23,928) Final Dividend : Nil Nil per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1) The calculation of the basic loss per share is based on the loss attributable to shareholders for the year of HK$38,955,000 (2003: HK$23,928,000) and on the 2,414,547,555 shares (2003: 2,414,547,555 shares) in issue during the year. The diluted loss per share for the year ended 31st December, 2004 and 2003 has not been shown as the warrants outstanding during these years had an anti-dilutive effect on the basic loss per share for these years. Morning Star Resources Limited Rooms 1406A & 1406B 14/F., AXA Centre 151 Gloucester Road Wanchai, Hong Kong Phone: 27230111 Fax: 27235111 SUPER KING: Enters Winding Up Proceedings ----------------------------------------- Super King International Limited with registered office situated at No 7, G/F, Yuen Tung Bldg, Kau Yuk Road, Yuen Long, New Territories was issued a winding up notice by the High Court of the Hong Kong Special Administrative Region Court of First Instance on March 16, 2005.s Date of Presentation of Petition: January 15, 2005. Dated this 1st day of April 2005. ET O'Connell Official Receiver TRUSTASIA LIMITED: Served with Winding Up Notice ------------------------------------------------ Trustasia (Hong Kong) Limited with registered office located at Room 6109, the Centre, 99 Queen's Road Central, Hong Kong was issued a winding up notice by the High Court of the Hong Kong Special Administrative Region Court of First Instance on March 30, 2005. Date of Presentation of Petition: December 20, 2004 Dated this 8st day of April 2005. ET O'Connell Official Receiver TISI LIMITED: Proofs of Debt, Claims Due May 9 ---------------------------------------------- Notice hereby given that the creditors of Tisi (HK) Limited, which is voluntary wound up, are required on or before the close of business on May 9, 2005, to send in their names, addresses and particulars of their debts or claims, sand the name and address of their solicitors to the undersigned and Mr. John Toohey, the Joint and Several Liquidators of the Company If so required in writing from the said Liquidator, they are to come in by their solicitors or personally and prove the said debts or claims at such time and place as shall be specified in such notice. In default thereof they will be excluded from the benefit of any distribution made before such debts are proved. Dated this 8th day of April 2005 Dated this 8th day of April 2005 Rainier Hok Chung Lam Joint and Several Liquidator 22/F., Prince's Building Central, Hong Kong TUNG YUEN: Court to Hear Liquidator's Application ------------------------------------------------- An application by the Official Receiver and Provisional Liquidator of Tung Yuen Hong Electrical Company Limited will be heard before Master S. Kwang of the High Court for consideration of the resolutions and determinations (if any) of the first meeting of creditors held on 26 January 2005 and the first meeting of contributories and the adjourned first meeting of contributories held on 26 January 2005 and 2 February 2005 respectively, deciding the differences (if any) and making such order of appointments as the court may think fit. Date and Time of Hearing: May 17, 2005 (Tuesday) at 9:30 a.m. Place of hearing: High Court Building, No. 38 Queensway, Hong Kong Any creditor or contributory of the Company is entitled to attend and be heard at the above hearing. Dated this 8th day of April 2005. E.T. O'CONNELL Official Receiver & Provisional Liquidator ================= I N D O N E S I A ================= BANK DANAMON: Moody's Upgrades Debt Rating to B2 ------------------------------------------------ Moody's Investors Service has raised Bank Danamon Indonesia's (BDI) subordinated debt rating to B2 from B3. The outlook for the rating is positive. At the same time, the agency has placed the bank's E+ bank financial strength rating (BFSR) on review for possible upgrade. The change in subordinated debt rating reflects an expected higher level of parental support from major shareholder, Temasek Holdings of Singapore (Temasek, rated Aaa). In the initial assessment, Moody's viewed the backing of a financially strong and reputable shareholder positively - it provided greater comfort of expected support in light of its position as fifth largest bank in the system and hence, relatively lower systemic importance. Despite Temasek's official policy that BDI is an investment on a stand-alone basis, Moody's believes that support for BDI will likely be more forthcoming than originally anticipated. Temasek's commitment to the bank is evident by its growing effective stake, to 55.9% from 43.35%, since it first took ownership of the bank in June 2003. Moreover, the rating agency views its investment in the bank as strategic in nature. Finally, Moody's believes that Indonesia is an important economic and political market to Temasek. Within this, BDI represents a large part of its investments in Indonesia. The BFSR review will consider the bank's improving financial performance, specifically, its high economic solvency (which will decrease with rapid growth in risk-weighted assets) and stronger recurring earning power. If Temasek-led management continues to build the business to higher returns, the bank's franchise value could be enhanced over time. Since new management entered the bank in June 2003, they have honed the bank's strategy and are redefining the bank's competitive position in the banking landscape. While the bank will remain a consumer and small and medium sized enterprises bank, it intends to concentrate on the lower income customers and self-employed segments. To help it in these areas, the bank acquired a 75% stake in Adira Finance for IDR850 billion in cash in April 2004. Adira Finance specializes in auto and motorcycle financing and holds a 12% market share in the motorcycle financing business. BDI is the fifth largest bank in the country with a 5% deposit market share. At end-2004, it had assets of IDR59 trillion. The bank has an established brand name in the consumer market, relatively healthy financial fundamentals and a professional management team. As of end-2004, the Asia Financial Indonesia consortium (comprising Temasek Holdings of Singapore with 85% and Deutsche Bank 15%) held a 65.76% stake in the bank. The following rating was changed: subordinated debt to B2 from B3. Outlook positive. The following rating was placed on review for possible upgrade: bank financial strength rating of E+. The following ratings were unaffected: long-term/short-term deposit of B3/Not Prime. The long-term rating carries a positive outlook and short-term stable. CONTACT: PT Bank Danamon Indonesia Terbuka Jl Jend Sudirman Kav 45 Wisma Bank Danamon Jakarta 12930 Indonesia Phone: +62 1 577 0551 Fax: +62 1 577 0716 Web site: http://www.danamon.co.id PERTAMINA: Builds Tankers to Transport Gas Nationwide ----------------------------------------------------- PT Pertamina Tbk is building four new tankers worth IDR474.38 billion to distribute fuel products nationwide, using proceeds from a controversial tanker sale last year to fund the project. Two of the four tankers, namely MT Plaju with a 6,500 Long Ton Dead Weight (LTDW) capacity, MT Fastron with 30,000 LTDW capacity, are being built in a shipyard in East Java, and are set to be finished next month. The other two tankers, the MT Balongan with 6,500 LTDW capacity and the MT Mundu with 3,500 LTDW capacity, are being built in Batam, but it is unclear when these would be completed. The state-owned oil and gas company currently operates 130 tankers to supply the fuel demands of the nation, although it only owns 30 vessels, and charters the rest. According to media relations officer Mochamad Harun, even though the tankers are quite small, they would aid greatly in transporting fuel to the different gas stations throughout the country. 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 PERTAMINA: Government to Reimburse IDR4 Trillion in Subsidies ------------------------------------------------------------- PT Pertamina is set to receive IDR4 trillion from the Indonesian government to help alleviate the Company's cash flow problems, Dow Jones reports. According to Mines & Energy Minister Purnomo Yusgiantoro, the payment would cover fuel subsidies from January to March. The government owes IDR24 trillion to the Company at present. Pertamina imports fuel from abroad, but sells them locally at subsidized prices. Recently, Company spokesman Abadi Purnama said that PT Bank Negara Indonesia and HSBC would not accept the Company's letters of credit, as it still had an outstanding IDR9 trillion debt to both banks, used to import fuel. This could hurt the Company's chances of importing additional fuel from the Middle East in order to maintain fuel reserves to last 22 days. The Company has been reported as stating that the length of time it takes for the government to reimburse its fuel subsidies is adversely affecting its cash flow. PERTAMINA: Lack of Funds Hampers LNG Cargo Purchase --------------------------------------------------- PT Pertamina doesn't have enough funds to buy LNG Cargo that is to be shipped to an unnamed Asian buyer next week, reports Dow Jones. Pertamina has been experiencing cash flow problems, which hinders it from financing the LNG purchase, which is an urgent need, but the Company is set to discuss this with the Indonesian government soon. In recent years, Pertamina has been experiencing problems with its local LNG stations, thus it has been importing fuel from the Middle East, so that it could meet its obligation to ship 453 cargoes of LNG to buyers in Japan, South Korea and Taiwan. The government then reimburses the Company for the imported LNG cargoes. ========= J A P A N ========= FUJITSU LIMITED: Sharp Keen on LCD Device Business -------------------------------------------------- Sharp Corporation will acquire Fujitsu Ltd's LCD device business to improve its production of small- and mid-sized LCDs used mainly in mobile phones and game consoles, AFX News reports. Under a contract signed on Monday, Sharp will buy the LCD device business, including the Yonago plant from Fujitsu Display Technologies, a unit of Fujitsu. Both parties did not reveal the financial terms of the deal. The Yonago plant will be upgraded so it can also produce small- and mid-sized LCDs. Sharp did not disclose the cost for expanding the facility, which employs some 340 employees. CONTACT: Fujitsu Limited 1-1, Kami-kodanaka 4-Chome Marunouchi Center Building Nakahara-ku, Kawasaki-City 211-0053, Kanagawa 100-8211 Japan Phone: +81 44 777 1111 Fax: +81 3 32169365 Web site: http://www.fujitsu.com/ HITACHI LIMITED: To Book JPY66-Bln Special Loss on Restructuring ---------------------------------------------------------------- Hitachi Limited will book a JPY66 billion special loss in the year to March 2005 to finance the restructuring of its group operations and balance sheet, according to AFX News. The electronics firm will spend JPY46.2 billion on restructuring charges, including the write-down of its investment in Fujitsu Hitachi Plasma Display, which now faces a big fall in profit due to a fall in global prices for plasma display panels. The Company also expects a JPY19.8 billion yen extraordinary loss to write down the value of impaired assets. To prevent the restructuring charges from impacting its profit results, the Company will book a capital gain of JPY41.8 billion by selling its equity interest in undisclosed firms. CONTACT: Hitachi, Ltd. Kantaro Tanii Public Relations Corporate Communications Division Phone: +81-3-5208-9323 Fax: +81-3-4564-2149 E-mail: kantaro.tanii.gx@hitachi.com MEISEI SHOKAI: IRCJ Receives Debt Payment in Full ------------------------------------------------- The Industrial Revitalization Committee of the Industrial Revitalization Corporation of Japan (IRCJ) recently approved the receipt of repayment in full for debt the IRCJ had purchased from financial institutions as part of a business revitalization plan for Meisei Shokai K.K. The payment received by the IRCJ means that it no longer holds any debt or other obligations of Meisei Shokai. 1. Name of Company concerned Meisei Shokai K.K. 2. Process to date On September 26, 2003 the IRCJ approved an application for assistance by Meisei Shokai under Article 22, Clause 3 of the Industrial Revitalization Corporation Act of 2003. On October 31 of the same year, under Article 25, Clause 1 of the same act, the IRCJ reached agreement with financial institutions on the purchase of this Company's debts. On March 31, 2004 the IRCJ carried out a capital injection and began revitalization. Following this, Tokyo Computer Service Co., Ltd. ("Tokyo Computer Service") was selected as a sponsor. On February 28, 2005, the IRCJ and Tokyo Computer Service signed a contract for the sale to Tokyo Computer Service of Meisei Shokai shares held by the IRCJ, and this transaction was completed on March 14, 2005. 3. Amount of debt The principal value of Meisei Shokai's debt purchased from financial institutions by the IRCJ was JPY3,329 million, for which the IRCJ paid JPY1,594 million. JPY1,651 million of the principal value of the debt was handled in a debt forgiveness scheme according to the revitalization plan. With respect to the remaining JPY1,678 million of debt held by the IRCJ, the payment of JPY209 million received today means that the amount of Meisei Shokai debt owing to the IRCJ has now been paid in full. 4. Comment from the state ministers in charge of the Industrial Revitalization Corporation of Japan None expressed. Note on comments from ministers: The IRCJ is a quasi- governmental organization. As such, the IRCJ is required to obtain comments about decisions to assist private-sector companies from the three government ministers in charge of the IRCJ. For more information, please contact Corporate Planning Department The Industrial Revitalization Corporation of Japan Phone: 03-6212-6437 About the IRCJ The IRCJ was established jointly by the public and private sector on April 16, 2003, with the aim of providing revitalization assistance beneficial to both the industrial and the financial sectors in Japan. It targets assistance at companies that have sound business fundamentals but are unable to thrive because of excessive debt levels or other factors. The IRCJ has approximately 200 employees and is based in Tokyo. For more information please visit www.ircj.co.jp. MITSUBISHI MOTORS: Australia May Run Out of Cars to Sell -------------------------------------------------------- Mitsubishi Australia may not have enough cars to meet sales demand this month due to its aggressive marketing scheme, The Sydney Morning Herald reports. Company President Tom Phillips said the carmaker would be short on Colt, Outlander and Triton models after maintaining a conservative ordering strategy during the latter part of 2004 and into January this year. The embattled carmaker had not expected an aggressive marketing campaign, designed to restore the image of the brand in Australia, to be so successful. Under a global restructuring plan announced last year, Mitsubishi said Lonsdale would close in October this year with the loss of about 650 workers. CONTACT: Mitsubishi Motors Australia, Ltd. (MMAL) Head Office: 1284 South Road Clovelly Park South Australia, 5042 AUSTRALIA Phone: 08 8275 7443 Fax: 08 8275 7309 E-mail: careers@mmal.com.au Web site: www.mitsubishi-motors.com.au SANYO ELECTRIC: New Head to Refocus on Overseas Markets ------------------------------------------------------- Sanyo Electric Co's incoming President Toshimasa Iue said the Company will refocus on overseas markets under his leadership, due to begin in June, reports the Nihon Keizai Shimbun. Mr. Iue, currently a Vice President, will also hold the post of Chief Operating Officer. Toshimasa Iue's main partner in senior management will be Mr. Tomoyo Nonaka, an outside Director and former television news anchor, who is due to become Chairwoman and Chief Executive Officer. CONTACT: Sanyo Electric Co. Ltd 5-5, Keihan-Hondori 2-Chome Moriguchi City, 570-8677, Osaka 570-8677 JAPAN Phone: +81 6 6991 1181 Fax: +81 6 6991 6566 SOFTBANK CORPORATION: Sells Shareholdings in Mornings ----------------------------------------------------- Softbank Corporation announced that its wholly owned subsidiary, Softbank Finance Corporation (head office: Minato Ward, Tokyo, representative: Yoshitaka Kitao) sold its all shares held in U.S. Morningstar, Inc. 1. Outline of sale (1) Shares for sale: 7,528,860 common shares held in U.S. Morningstar, Inc. (2) Sale price: 9.4 billion yen 2. Effect on consolidated financial results Gain on sale of investment securities would be recognized approximately JPY3.8 billion on a consolidated basis in the first quarter for the fiscal year ending March 31, 2006. CONTACT: Softbank Corporation 24-1, Nihonbashi-Hakozakicho, Chuo-ku, Tokyo 103-8501, JAPAN Phone: 81-3-5642-8000 Web site: http://www.softbank.co.jp/english/index.html SOJITZ HOLDINGS: Converts Unsecured Bonds into Common Stock ----------------------------------------------------------- Sojitz Holdings Corporation serves notice of the conversion of the 1st Series Unsecured Convertible Bonds Due October 2006, which Sojitz Holdings issued in October 2004 into common stock in full as of March 22, 2005. 1. Issue 1st Series Unsecured Convertible Bonds Due October 2006 (guaranteed by Sojitz Corporation) 2. Cumulative Conversion Amount: JPY10 billion (100%) 3. All Converted Shares: 24,551,921 shares 4. Kind of Issued Shares: Common Stock The total number of issued shares and capitalization after the full conversion of this bond series is as follows: Issue number of shares: 240, 246, 254 shares Capitalization: JPY336,122,742,706 CONTACT: Sojitz Holdings Corporation 1-20 Akasaka 6-chome, Minato-ku Tokyo, 107-8655, Japan Phone: +81-3-5446-3600 Fax: +81-3-5446-1542 Web site: http://www.sojitz-holdings.com TOSHIBA CORPORATION: Unit Cuts Ties With Electrolux --------------------------------------------------- Toshiba Consumer Marketing Corporation, a unit of Toshiba Corporation, will end its business alliance with Sweden's AB Electrolux at the end of this year and stop selling jointly developed household appliances at the end March 2006. Toshiba Consumer Marketing will continue to offer aftercare services on the joint brand products it has sold even after the alliance is dissolved. CONTACT: Toshiba Corporation 1-1-1 Shibaura, Minato-ku, Tokyo, Japan Contact: Naoto Hasegawa, General Manager Corporate Communication Office Phone: 81 3 3457 2096 ========= K O R E A ========= JINRO LIMITED: Labor Union Protests Takeover by Hite ---------------------------------------------------- Jinro Limited's labor union is opposing the takeover of the Company by Hite Brewery Co. consortium, saying that the high bidding price would lead to an outflow of domestic capital, Asia Pulse reports. "Because Hite Brewery paid KRW3.2 trillion to acquire the Company, it is twice as high as the optimal price necessary to remove the Company from court receivership. This means that main creditor Goldman Sachs receives a tax-free profit of KRW1 trillion or more, and the purchase price will increase product cost, and will have to be borne by local consumers," stated the labor union. The Hite consortium will begin due diligence this week. It will also seek the approval of the Fair Trade Commission, which was previously scheduled to examine whether the takeover would not violate the rules of unfair competitions. The union added that it will not strike against the acquisition but will appeal for a legal review of the merger and acquisition process. The labor union has said that it would not strike against the takeover, but would file an appeal for a legal review of the acquisition. CONTACT: Jinro Limited Jinro Bldg, 1448-3 Seocho-dong Seocho-gu, Seoul, 137-866 South Korea Phone: +82 2 520 3114 Fax: +82 2 520 3453 Web site: http://www.jinro.co.kr/ =============== M A L A Y S I A =============== ANTAH HOLDINGS: Issues Monthly Default Status Update ---------------------------------------------------- Further to the announcement dated March 2, 2005, the Board of Directors of Antah Holdings Berhad issued update on the details of the various credit facilities in default to the financial institutions as at March 31, 2005; details of the monthly update are attached. To view the report, go to: http://bankrupt.com/misc/tcrap_antahh041105.xls 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 BELL & ORDER: Must Pay Claims to SBB ------------------------------------ On April 7, 2005, Bell & Order Berhad received a Writ of Summons and a Statement of Claim by Southern Bank Berhad (SBB) for presentation at the Shah Alam High Court. i) The aggregate principal amount of S$768,049.05; ii) Accrued aggregate interest (on the overdraft facilities and Trust Receipts) as at March 8, 2005 of S$14,798.26; iii) Further interest accruing on the outstanding principal sum of S$339,576.61 at the total rate of 7.375% per annum (being 1.625% per annum over the Plaintiff's prime lending rate which is currently 5.75%); and iv) Further interest accruing on the outstanding principal sum of S$396,056.14 at the total rate of 10.75% per annum (being 5% per annum over the Plaintiff's prime lending rate which is currently 5.75%) The claim under the notice was allegedly for the banking facilities extended by SBB to Bell & Order Engineering Pte. Ltd. secured by a Corporate guarantee by Bell & Order Berhad. B&O had on Feb. 28, 2005 announced that it is an affected listed issuer under Practice Note No. 17/2005 (PN 17/2005) of the Listing Requirements of Bursa Securities, as the Company has a deficit in its adjusted shareholders' equity on a consolidated basis based on the Company's unaudited consolidated results for the financial year ended Dec. 31, 2004. On Jan. 7, 2005, the Company made an announcement whereby B&O is proposing to undertake the Proposed Rights Issue, Proposed Acquisitions, Proposed GO Exemption, Proposed Increase In Authorized Share Capital and Proposed Placement. The Proposals are expected to provide the B&O Group with new source of income from business operations in the oil & gas and services industry. The Proposals outline the Company's plan to regularize its financial condition. The applications for the Proposals dated March 10, 2005 were submitted to the relevant authorities and are currently pending review by the authorities. As at the date hereof, there are no additional expected material losses arising from the Writ as the amount claimed had already been taken into account in B&O's financial statements. In addition, as part of the Proposals, B&O is proposing to enter into an arrangement with the bankers and creditors of the Company under Section 176 of the Companies Act, 1965 for the settlement of the B&O Group's bank borrowings. On March 25, 2005, B&O obtained the leave of the High Court of Kuala Lumpur to convene the necessary creditors' meetings for purposes of the said arrangement. The court also granted a restraining order to the effect that all legal proceedings against B&O should be stayed (save with the leave of the Court) for a period of 90 days commencing March 25, 2005, pending the outcome of the creditors' meetings. As at the date hereof, B&O is still in negotiation with its bankers and creditors. The Company has also instructed its solicitors to take appropriate actions in response to the Writ. Therefore, the Writ is not expected to have a material financial and operational impact to the B&O Group. CONTACT: Bell & Order Berhad 28 & 30 Jalan Pjs 11/14 Bandar Sunway Petaling Jaya 46150 Malaysia Phone: 03 - 56336966 Fax: 03 - 56345081 BOUSTEAD HOLDINGS: Set to List Additional Shares ------------------------------------------------ Boustead Holdings Berhad's additional 207,000 new ordinary shares of MYR0.50 each issued pursuant to the Company's Employee Share option Scheme will be granted listing and quotation effective Wednesday, April 13, 2005, 9:00 a.m. CONTACT: Boustead Holdings Berhad 18th Floor, Menara Boustead, 69 Jalan Raja Chulan, 50200 Kuala Lumpur Malaysia Phone: 03-2141 9044 Fax: 03-21430075 Web site: http://www.boustead.com.my BUKIT KATIL: Bourse Extends Requisite Announcement Date ------------------------------------------------------- Bukit Katil Resources Berhad announced that on March 30, 2005, the Company submitted an application to Bursa Malaysia Securities Berhad (Bursa Securities), seeking approval for extension of time of one month from April 14, 2005 to announce its Requisite Announcement on the Company's plan to regularize its financial position. The Company announced that Bursa Securities had on April 8, 2005 granted its approval for extension of time to May 15, 2005 for the Company to announce its Requisite Announcement. 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: To Hold AGM on May 5 --------------------------------- Faber Group Berhad announced that the Company's 42nd Annual General Meeting (AGM) will be held on Thursday, May 5, 2005, 10:00 a.m. The AGM will be held at Nusantara Ballroom, 2nd Floor, Sheraton Imperial, Jalan Sultan Ismail, 50250 Kuala Lumpur. The notice of the AGM is attached herewith and is published in The Star on Monday, April 11, 2005. To view further details on the AGM notice, go to: http://bankrupt.com/misc/tcrap_fabergroup041105.doc 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: Violates Listing Requirements ------------------------------------------- On 8 April 2005, Bursa Malaysia Securities Berhad (Bursa Securities) publicly reprimanded and imposed a MYR240,000 fine on General Soil Engineering Holdings Berhad for breach of paragraphs 9.23(a) and 9.23(b) of the Listing Requirements of Bursa Securities (Bursa Securities LR). The Company was found to be in breach of the following requirements: (a) Paragraph 9.23(a) The Company failed to submit the annual report (AR 2004) for the financial year ended June 30, 2004, by the Dec. 31, 2004 due date. (b) Paragraph 9.23(b) The Company failed to submit the annual audited accounts for the financial year ended June 30, 2004, by the due date of Oct. 31, 2004. As at to date, the Company has still not submitted the AAA 2004 and AR 2004 to Bursa Securities for public release. The public reprimand and fine were imposed pursuant to paragraph 16.17 of the Bursa Securities Listing Requirements after taking into consideration all relevant factors, including the fact that the Company previously breached the Bursa Securities LR. Bursa Securities further directed GENSOIL to furnish the AAA 2004 and AR 2004 for public release within one (1) month from the date of imposition of penalty. CONTACT: General Soil Engineering Holdings Berhad 346, Jalan Tuanku Abdul Rahman 50100 Kuala Lumpur Malaysia Phone: 03-2698 9888 Fax: 03-2693 8580/670 GOLDEN FRONTIER: Buys Back 2,000 Shares --------------------------------------- Golden Frontier Berhad disclosed the details of its shares buy back on April 8, 2005 to the Bursa Malaysia Securities Berhad. Date of buy back: 08/04/2005 Description of shares purchased: Ordinary Shares of RM1.00 Each Total number of shares purchased (units): 2,000 Minimum price paid for each share purchased (RM): 0.600 Maximum price paid for each share purchased (RM): 0.600 Total consideration paid (RM): 1,214.48 Number of shares purchased retained in treasury (units): 2,000 Number of shares purchased which are proposed to be cancelled (units): 0 Cumulative net outstanding treasury shares as at to-date (units): 1,445,100 Adjusted issued capital after cancellation (no. of shares) (units): CONTACT: Golden Frontier Berhad No 11 Lorong Kinta 10400 Penang, Malaysia Phone: +60 4 226 2226 Fax: +60 4 228 2890 MYCOM BERHAD: Proposed Scheme Completion Extended to Sept. 30 ------------------------------------------------------------- Further to the announcement dated Dec. 15, 2004, Mycom Berhad announced that the Company had on 7 April 2005 received the approval of the Securities Commission (SC) via its letter dated April 6, 2005, for the extension of time for a further period of nine (9) months to Sept. 30, 2005 to complete the implementation of the Proposed Restructuring Scheme, subject to the following terms and conditions: (i) The Company is required to make monthly announcement to the Bursa Malaysia Securities Berhad (Bursa Securities) regarding the status of the implementation of the Proposed Restructuring Scheme at the end of each month until the completion of the Proposed Restructuring Scheme. In relation thereto, the Company is required to disclose in full the following matters in the announcement: (a) The outstanding events to complete the implementation of the abovesaid Proposed Restructuring Scheme; (b) The relevant dates in relation to the abovementioned Outstanding Events; and (c) The opinion from the Company's Board of Directors regarding the achievability of the timeline to complete the implementation of the Proposed Restructuring Scheme; (ii) The Company is required to make immediate announcement to Bursa Securities if any of the Outstanding Events are not able to be implemented within the stipulated timeline together with detailed explanations for failure to implement and the concrete steps involved to ensure the said Outstanding Events will be implemented within the amended timeline; and (iii) The Company is required to submit a copy of the said announcement to the SC together with the abovementioned opinion from the Board of Directors, for the reference of SC. Notwithstanding the above, the Company is informed that the abovementioned approval for the extension of time in the foregoing paragraph is final, and any further application for the extension of time to complete the implementation of the Proposed Restructuring Scheme would not be considered by the SC. CONTACT: Mycom Berhad Level 23, Menara Olympia Jalan Raja Chulan Kuala Lumpur, 50250 Malaysia Phone: +60 3 2072 3993 Fax: +60 3 2072 3996 NAIM INDAH: Unit Posts Zero Log Production for March 2005 --------------------------------------------------------- In accordance with Paragraph 9.29, of the Bursa Malaysia Securities Berhad (BMSB) listing requirements, Naim Indah Corporation Berhad announced that its wholly owned subsidiary, Jernih Makmur Sdn Bhd (which owns a Timber Concession located at Hutan Simpanan Lebir, Mukim of Relai, District of Chiku, Jajahan Gua Musang, Kelantan Darul Naim), was unable to extract any round timber logs in March, as the Company is still tagging the Compartment designated for logging extraction. Thus, there was no log production for the month of March 2005. CONTACT: Naim Indah Corporation Berhad Jalan Kampar Off Jalan Tun Razak 50400 Kuala Lumpur Malaysia Phone: +60 3 4043 9411 OLYMPIA INDUSTRIES: SC Extends Scheme Completion Period ------------------------------------------------------- Further to the announcement dated Dec. 15, 2004, Olympia Industries Berhad (OIB) announced that the Company had on April 7, 2005 received the approval of the Securities Commission (SC) via its letter dated April 6, 2005, for the extension of time to complete the implementation of the Proposed Restructuring Scheme. The application for the following proposals: (i) Extension of time for nine (9) months to Sept. 30, 2005 to complete the implementation of the Proposed Restructuring Scheme; and (ii) Extension of time for twelve (12) months to Dec. 31, 2005 for the merger between Jupiter Securities Sdn Bhd (JSSB) and at least one (1) other stock Company, was considered and approved by the SC, as proposed, subject to the following terms and conditions: (i) OIB is required to make monthly announcement to the Bursa Malaysia Securities Berhad (Bursa Securities) regarding the status of the implementation of the Proposed Restructuring Scheme at the end of each month until the completion of the Proposed Restructuring Scheme. In relation thereto, OIB is required to disclose in full the following in the announcement: (a) The outstanding events to complete the implementation of the Proposed Restructuring Scheme (Outstanding Events); (b) The relevant dates in relation to the abovementioned Outstanding Events; and (c) The opinion from the Board of Directors of OIB regarding the achievability of the timeline to complete the implementation of the Proposed Restructuring Scheme; (ii) OIB is required to make immediate announcement to Bursa Securities if any of the Outstanding Events are not able to be implemented within the said stipulated timeline together with the detailed explanation for failure to implement and the concrete steps involved to ensure the said Outstanding Events will be implemented within the amended timeline; and (iii) OIB is required to submit a copy of the said announcement to the SC together with the abovementioned opinion from the Board of Directors of OIB, for the reference of SC. Notwithstanding the above, OIB is informed that the abovementioned approval for the extension of time in the foregoing paragraph is final, and any further application for the extension of time to complete the implementation of the Proposed Restructuring Scheme and the merger of JSSB and at least one (1) stock Company would not be considered by the SC. CONTACT: Olympia Industries Berhad No 8 Jalan Raja Chulan Kuala Lumpur, 50200 Malaysia Phone: +60 3 2070 0033 Fax: +60 3 2070 0011 PANGLOBAL BERHAD: Unit Posts March Production Figures ----------------------------------------------------- PanGlobal Berhad announced that the coal production volume of its wholly owned subsidiary, Global Minerals (Sarawak) Sdn Bhd for the month of March 2005 was 55,070.52mt. CONTACT: Panglobal Berhad 8 Lorong P Ramlee Kuala Lumpur, 50250 Malaysia Phone: +60 3 2031 9199 Fax: +60 3 2032 3977 PAN MALAYSIA: Repurchases 60,000 Shares --------------------------------------- Pan Malaysia Corporation Berhad disclosed to the Bursa Malaysia Securities Berhad details of its shares buy back on April 8, 2005. Date of buy back: 08/04/2005 Description of shares purchased: Ordinary shares of RM0.50 each Total number of shares purchased (units): 60,000 Minimum price paid for each share purchased (RM): 0.385 Maximum price paid for each share purchased (RM): 0.390 Total consideration paid (RM): 23,332.23 Number of shares purchased retained in treasury (units): 60,000 Number of shares purchased which are proposed to be cancelled (units): 0 Cumulative net outstanding treasury shares as at to-date (units): 21,425,500 Adjusted issued capital after cancellation (no. of shares) (units): 0 CONTACT: Pan Malaysia Corporation Berhad Jalan P Ramlee Kuala Lumpur, 50250 Malaysia Phone: +60 3 2031 6722 Fax: +60 3 2031 1299 PANTAI HOLDINGS: To List Extra Shares on April 13 ------------------------------------------------- Pantai Holdings Berhad's additional 60,000 new ordinary shares of MYR1.00 each arising from the Company's Conversion of MYR67,200 nominal value of irredeemable convertible unsecured loan stocks 2002/2007 into 60,000 new ordinary shares will be granted listing and quotation effective Wednesday, April 13, 2005, 9:00 a.m. 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/ UNITED CHEMICAL: Sees No Change in Default in Payments ------------------------------------------------------ The Board of Directors of United Chemical Industries Berhad (UCI) announces that there are no new significant developments in relation to the Company's defaults in payment in accordance with Practice Note 1/2001 of the Bursa Malaysia Securities Berhad Listing Requirements. UCI has provided an update on the details of all facilities currently in default in compliance with Section 3.1 of Practice Note No.1/2001. To view the full copy of the report, click on: http://bankrupt.com/misc/tcrap_unitedchem041105.xls CONTACT: United Chemical Industries Berhad 10th Floor, Wisma MCA Jalan Ampang 50450 Kuala Lumpur, WP Malaysia Phone: 603-2619055 Fax: 603-2610502 WEMBLEY INDUSTRIES: Bourse Mulls Delisting ------------------------------------------ Wembley Industries Holdings Berhad announced that the Company received a notice to show cause on de-listing of Securities of the Company from Bursa Malaysia dated April 8, 2005, as follows: a) The Company has been accorded 14 days by Bursa Securities to make written representations to Bursa Securities on why its securities should not be removed from the Official List of Bursa Securities; b) In the event Bursa Securities decides to de-list the Company, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of 14 days from the date of notification of the decision to de-list the Company or upon such other date as may be specified by Bursa Securities; and c) In the event Bursa Securities decides not to de-list the Company, other appropriate action/penalty(ies) may be imposed pursuant to paragraph 16.17 of the Bursa Securities Listing Requirements. As the Company's appeal in relation to the extension of time for the implementation of the Company's restructuring scheme is currently being considered by the Securities Commission, the Company will reply accordingly to Bursa Malaysia Show Cause Letter within the required fourteen (14) days. CONTACT: Wembley Industries Holdings Berhad No 1 Jalan Pandungan Kuching, Sarawak 93100 Malaysia Phone: +60 82 236920 Fax: +60 82 236922 ===================== P H I L I P P I N E S ===================== BACNOTAN CONSOLIDATED: PHINMA Notes Changes in Shareholdings ------------------------------------------------------------ Philippine Investment-Management Inc. (PHINMA), a principal shareholder of Bacnotan Consolidated Industries Inc. (BCI), furnished the Exchange a copy of its SEC Form 23-B (Statement of Changes in beneficial Ownership of Securities), reporting changes in its shareholdings for the month of March 2005. A copy of the said document shall be made available for reference at the PSE Centre and PSE libraries. The same shall likewise be made available for downloading at the PSE Web site: http://www.pse.com.ph(under Listed Companies). For your information. (Original Signed) JURISITA M. QUINTOS Senior Vice President CONTACT: Bacnotan Consolidated Industries Incorporated No 39 Plaza Drive Rockwell Centre 4th Floor PHINMA Building Makati City 1200 Philippines Phone: +63 2 8700 100 Fax: +63 2 8700 456 COLLEGE ASSURANCE: SEC May Block Access to Trust Fund ----------------------------------------------------- The Securities and Exchange Commission (SEC) may no longer allow College Assurance Plans Inc. (CAP) to tap the SEC trust fund if the pre-need firm fails to replenish the fund, reports Today News. The regulator ordered CAP to fill the trust fund, which was further depleted following the monetization of the pre-need firm's Metro Rail Transit (MRT) bonds. CAP was allowed to access the trust fund using its MRT bonds after the Company's plan holders clamored for payments. SEC has estimated that CAP's trust fund stands at Php4.7 billion, or lower than the Php8.5 billion reported earlier. The Company needs Php1.25 million each semester for 2005 to 2006 to finance maturing plans. The commission had written CAP to remind about its obligations, but the Company has yet to respond. CONTACT: College Assurance Plans Philippines Inc. CAP I Building 126 Amorsolo cor. Herrera Streets Legazpi Ville, Makati City Malaysia Phone: 817-6586, 759-2000 Fax: (0632) 818-0560 COLLEGE ASSURANCE: Oversight Panel Completes Report --------------------------------------------------- The oversight committee, formed since College Assurance Plans' (CAP) woes came to light, has completed a report on the pre-need firm, Today News relates. The committee reported on the dangers of the depletion of CAP's trust fund, and the need for a white knight to save CAP from its financial dilemma. The report made a lengthy recommendation on the issue, but refused to disclose its contents as the commission has yet to go over them first. The commission is set to meet next week to discuss the problem. MANILA ELECTRIC: May Buy Transco Assets This Year ------------------------------------------------- Manila Electric Company (Meralco) is in continuous talks to purchase part of National Transmission Corporation 's (Transco) sub-transmission assets, according to Today News. Meralco is looking to acquire several of Transco's assets in Cavite, Bulacan, and Batangas this year. "We have identified which assets we plan to acquire. However, the Energy Regulatory Commission has required that a third party appraisal be conducted on the assets' valuation," Meralco president and chief operating officer Jesus P. Francisco said. The power utility firm is also negotiating to stretch the payment period to over several years. 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 MAYNILAD WATER: DMCI Eyes Buyout -------------------------------- DMCI has firmed up a plan to acquire west concessionaire Maynilad Water Services Inc. from the Lopez family, says The Philippine Daily Inquirer. On April 1, DMCI submitted a letter of intent to Lopez-owned Benpres Holdings Corp on its bid to buy the firm's 59-percent- owned unit Maynilad. DMCI said it wanted to acquire all shares of Maynilad. DMCI had also made known its intent to conduct a due-diligence audit on Maynilad's balance sheets and financial reports. As of January, Maynilad's liabilities were estimated at Php18 billion and its assets placed at no less than Php2 billion. Nevertheless, monthly collections from customers and the new tariff adjustment had made cash flow steady and operations viable. Maynilad said it will not be able to accommodate DMCI's offer just yet since its corporate rehabilitation program is still pending for approval with the Quezon City Regional Trial Court. But the utility firm stressed it will consider DMCI's bid. CONTACTS: Maynilad Water Services Inc. G/F MWSI Building, Katipunan Road MWSS Compound, Balara Quezon City Philippines NATIONAL POWER: DOF Permits Float of Php5-Bln Bonds --------------------------------------------------- The Department of Finance gave a go-ahead to National Power Corporation's (Napocor) plan to borrow on its own by floating peso-denominated bonds this month, The Philippine Daily Inquirer says. The Php5-billion bond issuance, which will be guaranteed by the national government, will have tenors of five and seven years. Cash-strapped Napocor will use the proceeds of the bond float to cover its ballooning operating expenses. DOF said it would not block Napocor's plan to borrow on its own since the government already got a favorable response from the market when the plan was made. In fact, some firms had already express willingness to lend. The national government, through the DOF, had been borrowing in behalf of the state-owned power firm, as the credit market was seen charging higher interest rates if Napocor borrowed on its own. But due to positive market sentiment, the government said it would just borrow on Napocor's behalf if the loan cost is too high. CONTACT: National Power Corporation Quezon Ave., East Triangle, Diliman Quezon City, Metro Manila, Philippines Phone: +63-2921-3541 Fax: +63-2921-2468 PHILIPPINE NICKEL: Surigao Execs Laud PGMA on Mine Support ---------------------------------------------------------- Surigao del Norte government officials praised President Gloria Macapagal-Arroyo (PGMA) for backing the revival of dormant Philippine Nickel Corporation (Philnico), Sunstar Daily reports. PGMA has directed Environment Secretary Michael Defensor to formulate a scheme to restructure Philnico's US$320-million debt. The program will allow Chinese mining conglomerate Chi Juan Non Ferrous Metals Corp., which expressed interest to re-construct Philnico's nickel refinery plant, for a gradual payment in the buy out of rights of the Filipino mining firm in Nonoc Island. The revival of the Nonoc nickel mining is expected to generate millions of pesos of revenues to the city coffers that will help provide funds for various government projects in the city and the province. PGMA also ordered concerned government agencies to make sure that the environment is protected and affected people in host communities be consulted before the start of any mining activities. CONTACT: Philippine Nickel Corporation Surigao City Surigao del Norte Borromeo Street City Hall Compound 8400 Surigao City Philippines Phone: (086) 826-0249 Fax: (086) 826-4131 E-mail: cpdosc@surigao.philcom.com.ph Web site: http://www.caraga13.gov.ph/surigaocity/ SWIFT FOODS: RFM Places 10,947,678 Preferred Shares --------------------------------------------------- This is in reference to Circular for Brokers No. 1661-2005 dated April 8, 2005 pertaining to the authorization by the Board of Directors of RFM Corporation (RFM) to put 10,947,678 preferred shares in Swift Foods Inc. (SFI). In relation thereto, RFM furnished the Philippine Stock Exchange copies of the following: (1) SEC Form 18-A (Report By Owner of More Than Five Percent) (2) SEC Form 23-A (Initial Statement of Beneficial Ownership of Securities) (3) SEC Form 23-B (Statement of Changes in Beneficial Ownership of Securities) Copies of the said documents shall be made available for reference at the PSE Centre and PSE Plaza libraries. The same shall likewise be made available for downloading at the PSE web site: http://www.pse.com.ph(under Listed Companies). For your information. (Original Signed) JURISITA M. QUINTOS Senior Vice President CONTACT: SWIFT FOODS, INC. Pioneer Corner Sheridan Streets RFM Corporate Center Mandaluyong City 1603 Philippines Phone: +63 2 631 8101 Fax: +63 2 631 5064 Web site: http://www.rfm.com.ph/ VANTAGE PENSION: Investors Face SEC Scrutiny -------------------------------------------- The Securities and Exchange Commission (SEC) said the entry of potential investors into Vantage Pension should be placed under a thorough review, according to The Manila Bulletin. According to SEC, investors should undergo a background check to ensure their legitimacy and capability to run the pre-need business. SEC fears that individuals or companies that will pose as investors will actually drain the Company's funds. Vantage Pension was once an active pre-need firm but decided to suspend its operations in the 1990's. Now the Company wants to resume its operations in the light of an investor coming in. But in order to resume its operations Vantage Pension has to put up Php50 million in paid-up capital as required under the New Pre-Need Rules. The SEC rules provide a Php100 million paid-up capital requirement for companies selling three plan types (education, pension and life), Php75 million for companies selling two plan types and Php50 million for those selling only one plan type. VICTORIAS MILLING: Posts Change in Directors' Holdings ------------------------------------------------------ Further to Circular for Brokers No. 1596-2005 dated April 6, 2005, the following director and officers of Victorias Milling Company Inc. furnished the Exchange copies of their SEC Form 23- A (Initial Statement of Beneficial Ownership of Securities), pursuant to Section 13 of the Revised Disclosure Rules pertaining to "Disclosure on Transactions of Directors and principal Officers in the Issuer's Securities": (1) Mr. Renato A. Castillo - Director (2) Mr. Nilo Adriano Florcruz - VP Manufacturing (3) Ms. Teresita Venal Ilagan - Controller Likewise, MR. Abelardo Enriquez Bugay, a director and President of the Corporation, furnished the Exchange a copy of his SEC Form 23-B (Statement of Changes in Beneficial Ownership of Securities), which reported the change in his shareholdings related to a transaction on April 7, 2005, pursuant to Section 13 of the Revised Disclosure Rules pertaining to "Disclosure on Transactions of Directors and Principal Officers in the Issuer's Securities." Copies of the said documents shall be made available at the PSE Centre and PSE Plaza libraries. The same shall likewise be made available for downloading at the PSE web site: http://www.pse.com.ph(under Listed Companies). For your information. (Original Signed) JURISITA M. QUINTOS Senior Vice President CONTACT: Victorias Milling Co. Inc. 9126 Sultana cor. Honradez Sts. Barangay Olympia, Makati City Phone No/s: 896-0381; 899-0485 Fax No/s: 895-4150 E-mail Address: fal@philonline.com Web site: http://www.victoriasmilling.com Auditor: Joaquin Cunanan & Company Transfer Agent: Fidelity Stock Transfer, Inc. ================= S I N G A P O R E ================= BRIDGEMENT INTERNATIONAL: Proofs of Debt, Claim Due May 9 --------------------------------------------------------- Notice is hereby given that the creditors of Bridgement International Pte Ltd (In Members' Voluntary Liquidation), which is being wound up voluntarily, are required, on or before May 9, 2005 to send in their names and addresses, with particulars of their debts and claims, and the names and addresses of their solicitors (if any) to the undersigned, the liquidators of the said Company. If so required by notice in writing by the said liquidators, they are, personally or by their solicitors, to come in, and prove the said debt or claims at such time and place as shall be specified in such notice. In default thereof they will be excluded from the benefit of any distribution made before such debts are proved. Dated this 8th day of April 2005 Low Sok Lee Mona Cheng Soon Keong Liquidators c/o Low, Yap & Associates 4 Shenton Way #04-01 SGX Centre 2 Singapore 068807 COGENT DEVELOPMENT: Faces Winding Up Petition --------------------------------------------- In the matter of Cogent Development Pte Ltd. a winding up order was made on April 1, 2005. Name and address of Liquidator: The Official Receiver Insolvency & Public Trustee's Office 45 Maxwell Road #05-11/#06-11 The URA Centre (East Wing) Singapore 069118 Dated this 1st day of April 2005 Rajah & Tann Solicitors for the Petitioner Note: (a) All creditors of the abovenamed Company should file their proof of debt with the liquidator who will be administering all affairs of the Company. (b) All debts due to the abovenamed Company should be forwarded to the liquidator. GABERON PTE: Fixes May 9 as Date of Final Meeting ------------------------------------------------- Notice is hereby given that pursuant to Section 308 of the Companies Act, Cap. 50, a Final Meeting of the Members of Gaberon Pte Ltd (In Members' Voluntary Liquidation) will be held at 138 Cecil Street, #15-00 Cecil Court, Singapore 069538 on May 9, 2005 at 10:00 a.m. for the purpose of laying before the Meeting an account showing how the winding up has been conducted, and the property of the Company disposed of and of hearing any explanation that may be given by the Liquidators, and also of determining by resolution the manner in which the books, accounts and documents of the Company and of the Liquidators shall be disposed of. Dated this 8 April 2005. Steven Tan Chee Chuan Douglas Tan Kay Yeow Joint Liquidators Note: Pursuant to Section 181 of the Companies Act, Cap. 50, a member entitled to attend and vote at this Meeting is entitled to appoint another person or persons (whether a member or not) as his proxy to attend and vote in his stead. GLOBAL VOICE: To Provide University in Frankfurt with CWDM ---------------------------------------------------------- Singapore listed Global Voice Group (GV) announced in a disclosure made to the Singapore Stock Exchange (SGX) that it has been awarded a 15-year contract to deliver a managed fibre network solution to the Johann Wolfgang Goethe University in Frankfurt. When implemented the GV solution will provide the University's 35,000 students and 3,000 staff with high-speed broadband access to a wide variety of multimedia applications including, Internet access, videoconferencing and high-speed data exchange. The University, which extends across greater Frankfurt and covers four campuses including Bockenheim, Riedberg, Westend and Niederrad also utilize GV's dense metropolitan network across the region. Under the agreement, the University of Frankfurt will become one of the first universities in Germany to use CWDM (Coarse Wave Division Multiplexing) to transfer data across multiple campuses. As explained by Dr. Stefan Gl�ckert, Director of the University Data Centre "here in the University of Frankfurt, as in all universities, the quantum of voice and data transfer is constantly increasing. This is been driven by a number of factors, such as the constant growth in students numbers attending Universities, an ever growing requirement for information to be available online, rapidly increasing usage by students and staff in research institutes to webcast experiments live, and an increasing requirement by training hospitals to show their students parts of surgeries online and in real time." "These were just some of were the reasons that Frankfurt University selected a managed fibre service from GV as having transmission rates of between 155 Mbps and 10 Gbps means that we can now run new applications as we need." To view a full copy of the press release, click http://bankrupt.com/misc/GLOBALVOICE040805.pdf For further information, please contact: Diane Hodnett Global Voice AG Telephone: +496990554000 E-mail: diane.hodnett@globalvoice.com Web site: http://www.globalvoice.com GLOBAL VOICE: Unveils New ESOS Committee Members ------------------------------------------------ The Board of Directors of Global Voice Group Limited advised the Singapore Stock Exchange (SGX) on the appointment of Mr. Thomas Byrnes, Mr. Noel Meaney and Mr. Christopher Nightingale as members of the Company's ESOS Committee with effect from February 28, 2005, in place of Mr. Faisal Alsagoff and Mr. Foo Kok Swee @ Pu Kok Swi and Mr Lee Theng Kiat. Mr. Faisal Alsagoff and Mr. Foo Kok Swee @ Pu Kok Swi resigned as Directors on October 18, 2004 while Mr. Lee Theng Kiat remained on the Board of Directors. Following the above changes, the ESOS Committee is now comprised of the following members: Lt-Gen (Ret) Ng Jui Ping (Chairman) Mr. Thomas Byrnes Mr. Noel Meaney Mr. Christopher Nightingale By Order of the Board Global Voice Group Limited HOTLINE INDUSTRIES: Enters Winding Up Process --------------------------------------------- In the matter of Hotline Industries Pte Ltd. a winding up order was made on April 1, 2005. Names and address of Liquidators: The Official Receiver Insolvency & Public Trustee's Office The URA Centre (East Wing) 45 Maxwell Road #05-11/#06-11 Singapore 069118 Shook Lin & Bok Solicitors for the Petitioner HUA ANN: Receiving Proofs of Claims Until May 8 ----------------------------------------------- Hua Ann Brothers Pte Ltd (In Liquidation) posted a notice of intended dividend to the Government Gazette, Electronic Edition with the following details. Address of Registered Office: c/o The Liquidator's Office Nature of Matter: Originating Summons Nos. 1396 of 1997 and 1467 of 1999 Last day for receiving Proofs: 8th May 2005 Name of and Address of Liquidator: Mr. Don M Ho, FCPA c/o Don Ho & Associates Certified Public Accountants Corporate Advisory & Recoveries Equity Plaza 20 Cecil Street #12-02 & 03 Singapore 049705 Telephone: 65320320 (8 lines) Fax: 65320331 Dated this 8th April 2005 MICROLITE SINGAPORE: Requires Creditors to Prove Debt May 9 ----------------------------------------------------------- Notice is hereby given that the creditors of Microlite Singapore Pte Ltd (In Members' Voluntary Liquidation), which is being wound up voluntarily are required on or before May 9, 2005 to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the undersigned, the liquidator of the said Company. If so required by notice in writing by the said liquidator, they are, by their solicitors or personally, to come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved. Dated this 8th day of April 2005. Hamish Alexander Christie Liquidator c/o 16 Raffles Quay #22-00 Hong Leong Building Singapore 048581 RICHFIELD INNOVATIONS: To Pay Dividend April 18 ----------------------------------------------- Richfield Innovations Pte Ltd (In Liquidation) of 10 Anson Road #39-15 International Plaza c/o Liquidator's Office Singapore 079903 posted at the Government Gazette, Electronic Edition a notice of dividend. Court: High Court of Singapore Number of Matter: No. 600008 of 2002 Amount per centum: 2.84 cents to a dollar First and final or otherwise: Second Dividend When payable: 18th April 2005 Correspondence Address/Where payable: Richfield Innovations Pte Ltd (In Liquidation) c/o Bob Low & Co. Liquidator's office 10 Anson Road #39-15 International Plaza Singapore 079903 Dated 8th April 2005. =============== T H A I L A N D =============== HANTEX: Shareholders Approve New Capital Hike --------------------------------------------- Hantex Public Company Limited explained further to the Stock Exchange of Thailand with respect to the details of shares allocation that the Board of Directors passed in a resolution on February 28, 2005 to allocate new 100,000,000 shares to specific four private investors at the price of THB1.25 per share and specify the subscription period and payment period on April 7 to 8 and April 11 respectively. The extraordinary shareholders meeting on April 5, 2005 approved the new capital increase by way of private placements as per the recommendation of the Board of Directors and approved to authorize the Board of Directors to consider the details of shares allocation to these investors including period of subscription and date of payment of new shares. Should the Board of Directors have any more resolutions on the above issue, the Company shall immediately file the report to the Stock of Exchange of Thailand. Please be informed accordingly. Sincerely Your, Mr.Monchai Pongstabadee Director CONTACT: Hantex Public Company Limited Ocean Tower 1, Floor 4, 170/9-10 Rajadapisek Road, Khlong Toei Bangkok Telephone: 0-2261-2814-20, 0-2261-2824-26 Fax: 0-2261-2822 ADVANCE PAINT: Board Notifies SET on Meeting Resolutions -------------------------------------------------------- Pursuant to the resolution passed by the Board of Directors of Advance Paint & Chemical (Thailand) Public Company Limited, the Company notified the Stock Exchange of Thailand (SET) on the resolutions of the Ordinary General Meeting of Shareholders No.1/2005 held on Friday, April 8, 2005: (1) Adoption of the Minutes of Extraordinary General Meeting of Shareholders of the Company No.1/2004 (2) Unanimous approval and ratification of the performance results of the Board of Directors for fiscal year 2004 and the Annual Report. (3) Unanimous approval of the Balance Sheet and Profit and Loss Accounts of the Company for the fiscal year ended December 31, 2004. (4) Acknowledge non-payment of dividends for the performance results of the fiscal year 2004. (5) Unanimous approval for appointment of Mr. Pricha Punnakitikashem and Mr. Dusit Nontanakorn who retired by rotation in this occasion to act as Directors for another period and approval the directors' Remuneration fees of THB20,000 for each director per meeting. (6) Unanimous approval for appointment of Mr. Atipong Atipongsakun or Mr. Pravit Viwantananut the Auditors of AND Audit & Company, as the auditors of the Company for the fiscal year 2005 and fixing the remuneration of the auditors in the amount not exceeding THB300,000. Yours Sincerely, Mr.Pricha Punnakitikashem Chairman CONTACT: Advance Paint & Chemical (Thailand) Pcl 344 Moo 2, Bang Pa-In Industrial Estate, Bang Pa-In Ayutthya Telephone: 0-3522-1140, 0-2541-5374-8 Fax: 0-3526-1871 BOND PRICING: For the Week 11 April to 15 April 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% 10/01/06 1 Australis Holdings 15.000% 11/01/02 1 BIL Finance Ltd 8.000% 10/15/07 8 BIL Finance Ltd 8.750% 10/15/05 9 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 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 8 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 Gympie Gold Ltd 8.500% 9/30/07 1 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 Infrastructure & Utilities NZ Ltd 8.500% 9/15/13 8 Nuplex Industries Ltd 9.300% 9/15/07 8 Pacific Print Group Ltd. 10.250% 10/15/09 10 Primelife Corp. 9.500% 12/08/06 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 Sapphire Securities Ltd 7.410% 9/20/35 7 Sapphire Securities Ltd 9.250% 12/20/06 9 Sherlock Bay Nickel 12.000% 9/01/07 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% 4/01/06 1 Tower Finance Ltd 8.650% 10/15/09 8 Tower Finance Ltd 8.750% 10/15/07 9 TrustPower Ltd 8.300% 9/15/07 8 TrustPower Ltd 8.500% 9/15/12 8 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 66 MALAYSIA -------- Aliran Ihsan Resources Bhd 5.000% 11/29/11 1 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% 8/05/05 1 Dataprep Holdings Bhd 4.000% 8/06/07 1 Eden Enterprises (M) Bhd 2.500% 12/02/07 1 Fountain View Development Sdn Bhd 3.500% 11/03/06 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 Huat Lai Resources Bhd 5.000% 3/28/10 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 Kamdar Group Bhd 3.000 11/09/09 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% 12/29/06 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% 1/06/07 5 Lion Diversified Holdings Bhd 2.000% 6/01/09 2 Media Prima Bhd 2.000% 7/18/08 1 Mithril Bhd 3.000% 4/05/12 1 Mithril Bhd 8.000% 4/05/09 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 Pantai Holdings Bhd 5.000% 7/31/07 1 Patimas Computers Bhd 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% 12/24/12 1 Rashid Hussain Bhd 1.500% 6/30/07 75 Rashid Hussain Bhd 3.000% 12/24/12 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% 12/09/06 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 Time Engineering Bhd 2.000% 12/25/05 1 Tradewinds Corporation Bhd 2.000% 2/08/12 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 Sengkang Mall 8.000% 11/20/12 1 Structural System Singapore 11.000% 6/30/07 1 Tampines Assets Ltd 5.625% 12/07/06 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 co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey Resnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan, Reiza Dejito and Erica Fernando, Editors. Copyright 2005. All rights reserved. ISSN: 1520-9482. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR -- Asia Pacific subscription rate is $575 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Christopher Beard at 240/629-3300. *** End of Transmission ***