TCRAP_Public/050415.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

             Friday, April 15, 2005, Vol. 8, No. 74

                            Headlines

A U S T R A L I A

A.C.N. 089 031 130: To Declare Final Dividend April 27
A.C.N. 101 070 035: Lays Out Final Meeting Agenda
ASP SURFACES: Creditors, Members to Meet Today
AUSTRAL COAL: Centennial Issues Notice of Status of Conditions
AUSTRALIAN DIVING: Appoints Liquidator to Wind Up Company

BRYCECOVE PTY: To Declare Final Dividend April 20
CLARKEDALE NOMINEES: Liquidators Give Notice of Winding Up
COMMUNITY ACCOMMODATION: Placed in Administrators' Hands
DLF MINING: To Hear Liquidator's Account on Winding Up
DRONAGAIN PTY: Passes Resolution at Meeting

HIH INSURANCE: APRA Disqualifies 20th Exec
HIH INSURANCE: Lies Put Adler Behind Bars
HINDPATH PTY: To Pay Dividend April 20
IDEAL PROPERTY: Final Meeting Set for Today
JAMES HARDIE: Former Boss Tops Up Payout

JT HAZLETT: Fixes April 28 as Date of Meeting
KNIGHTS INSOLVENCY: Trading Halt Fuels Speculation
LCA LOGISTICS: Appoints Receivers and Managers
LEVERAGE PETROLEUM: Sets April 18 as Date of Final Meeting
MASTERTRADE PTY: To Hold Final Meeting Today

MITSUBISHI AUSTRALIA: Extends Recall of Magna, Verada Sedans
MULTIPLEX: Eyes U.S. Retail Portfolio
NISI IMATHIAS: Members Resolve to Wind Up Company
PITCON WORKFORCE: Members Pass Winding Up Resolution
QANTAS AIRWAYS: Marketing Head Bids Farewell

RM NO.14: Final Meeting Slated for April 21
P.J. & J.A.: Members Decide to Wind Up Company
PRODICT PTY: To Undergo Voluntary Winding Up
VOCON PTY: To Declare Final Dividend April 20


C H I N A  &  H O N G  K O N G

CREATOR'S ENGINEERING: Enters Winding Up Proceedings
GO MEDIA: Court Issues Winding Up Notice
HAISAN CARGO: Receives Winding Up Order
NETEL TECHNOLOGY: Net Loss Shrinks to HKD9.14 Mln
NEW SMART: Posts HKD39.9 Mln Net Loss in 2004

RADFORD CAPITAL: 2004 Net Loss Widens To HKD28.4 Mln
RESOUPORTER LIMITED: Court Releases Winding Up Order
RICH WEALTH: Court Orders Winding Up
STARTERS HOLDING: High Court Issues Winding Up Notice
UNIVERSAL CROWN: Receives Winding Up Order

WORLD WIDE: Winding Up Hearing Slated for May 11
YAU CHOI: Enters Winding Up Proceedings


I N D O N E S I A

ASIA PULP: Denies Illegal Logging Accusations
PERTAMINA: SC Wants Two Appeals to Be Heard in One Court
TELEKOMUNIKASI INDONESIA: Satellite Launch Faces Another Delay


J A P A N

DAIEI INCORPORATED: To Appoint HP Japan Head as President
DAIEI INCORPORATED: Opens First Outlet Under New Management
DAIKYO GROUP: IRCJ Receives Debt Payment in Full
JAPAN AIRLINES: Transport Ministry to Inspect Offices
MADARAO KOGENKAIHATSU: Begins Bankruptcy Proceedings

MITSUKOSHI LIMITED: Posts JPY4.07 Bln Loss Due to Store Closures
SANYO ELECTRIC: Enters Alliance With IBM Japan
SHOWA KOKI: Files for Bankruptcy


K O R E A

HYNIX SEMIXONDUCTOR: To Raise KRW2 Trillion to Repay Debt


M A L A Y S I A

ANTAH HOLDINGS: Updates Amendment in Default Payment Details
FABER GROUP: Granted Listing of Additional Shares
FORESWOOD GROUP: Bourse May Decide to Delist Securities
I-BERHAD: Posts Shares Buy Back Notice
MAXIS COMMUNICATIONS: Set to List More Shares

MENTIGA CORPORATION: Bourse Mulls Delisting of Securities
NALURI BERHAD: Court to Hand Down Ruling on June 17
PANTAI HOLDINGS: Repurchases More Shares
PUNCAK NIAGA: Seeks Shareholder Approval of Shares Buyback
WCT ENGINEERING: Lists Additional Shares Today

YCS CORPORATION: Bourse Rejects Appeal


P H I L I P P I N E S

COLLEGE ASSURANCE: SEC Exec Backs Actuarial Liabilities Changes
MAYNILAD WATER: Two Creditors Cash in Receivables
NATIONAL BANK: Stake Auction to Kick Off in June
NATIONAL POWER: Nine Firms Eye Calaca Power Plant
PACIFIC PLANS: Files for Rehabilitation

PHILIPPINE LONG: Notes Changes in Shareholdings
UNIWIDE HOLDINGS: Declines to Identify Potential White Knights


S I N G A P O R E

BUILDSPEED CONSTRUCTION: Posts Preferential Dividend Notice
CAPITALAND LIMITED: Unit Strikes Sale Deal with Parco, Seiyu
CAPITALAND LIMITED: Dormant Unit Struck Off from Registry
GREATRONIC LIMITED: To Receive Director's Report at AGM
JACKSON PILING: Proofs of Debt, Claim Due May 7

JSD CONSTRUCTION: Requires Creditors to File Proofs of Claim
KATONG PARK: Receiving Proofs of Claim Until April 22
NESDEX PTE: To Hold First Creditors Meeting April 25
TUI CONSULTING: Requires Creditors Prove Claims by May 12


T H A I L A N D

KRUNG THAI: To Report Weaker Q1 Results
* Large Companies With Insolvent Balance Sheets

     -  -  -  -  -  -  -  -

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

A.C.N. 089 031 130: To Declare Final Dividend April 27
------------------------------------------------------
A first and final dividend is to be declared on April 27, 2005
for A.C.N. 089 031 130 Pty Ltd (In Liquidation) formerly Nepean
Rehabilitation Hospital Pty Ltd A.C.N. 089 031 130.

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

Dated this 7th day of March 2005

Andrew Mclellan
Liquidator
A.C.N. 089 031 130 Pty Ltd
c/- PPB
Chartered Accountants
Level 10, 90 Collins Street,
Melbourne Vic 3000


A.C.N. 101 070 035: Lays Out Final Meeting Agenda
-------------------------------------------------
Notice is given that a Final Meeting of Creditors and Members of
A.C.N. 101 070 035 Pty Ltd (In Liquidation) formerly Rawbelle
Creek Pty Ltd A.C.N. 101 070 035 will be held at the offices of
Ferrier Hodgson (Qld), 7th Floor, 145 Eagle Street, Brisbane on
Monday, April 18, 2005 at 10:00 a.m.

AGENDA

To lay before the Meeting the Liquidators' Account showing how
the winding up has been conducted and the property of the
company has been disposed of and giving any explanation thereof,
pursuant to Section 509 of the Corporations Act 2001.

Proxies intended for use at the Meeting should be lodged at the
office of Ferrier Hodgson (Qld), 145 Eagle Street, Brisbane, not
later than today at 5:00 p.m., 15 April 2005.

Dated this 5th day of March 2005

Peter Geroff
Liquidator
c/- Ferrier Hodgson (Qld)
Level 7, 145 Eagle Street,
Brisbane Qld 4000


ASP SURFACES: Creditors, Members to Meet Today
----------------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act 2001, the Final Meeting of Creditors and
Members of ASP Surfaces Pty Ltd (In Liquidation) A.C.N. 106 471
096 will be held at the offices of Pilot Partners, Level 5, 175
Eagle Street, Brisbane today, April 15, 2005 at 10:00 a.m. for
the purposes of laying before the meeting the liquidators' final
account and report and giving any explanation thereof.

Dated this 4th day of March 2005

Bradley Hellen
Ann Fordyce
Joint & Several Liquidators
Pilot Partners
Chartered Accountants
Level 5, 175 Eagle Street,
Brisbane Qld 4000


AUSTRAL COAL: Centennial Issues Notice of Status of Conditions
--------------------------------------------------------------
Centennial Coal Company Limited gave notice to Austral Coal
Limited under section 630(3) of the Corporations Act 2001 (Cth)
that:

(a) On 23 March 2005, Centennial declared the offers dated 21
March 2005 (Offers) by it under its off-market takeover bid to
acquire all the ordinary shares in Austral Coal Limited
(Austral) free from the conditions set out in clause 5.1 of the
Offers, being all the defeating conditions of the Offers;

(b) So far as Centennial knows, the condition set out in clause
5.1 (c) of the Offers was, at the time of giving this notice,
fulfilled;

(c) So far as Centennial knows, the conditions set out in clause
5.1 (other than the condition set out in clause 5.1 (c) of the
Offers were, at the time of giving this notice, not fulfilled;
and

(d) Centennial's voting power in Austral at the time of giving
this notice is 68.65%.

CONTACT:

Austral Coal Limited
ACN 069 071 816
Level 18, 25 Bligh Street Sydney
NSW 2000 Australia
Telephone: 61+02+8256-4700
Facsimile: 61+02+9235-0997
E-mail: info@austcoal.com.au
Web site: http://www.austcoal.com.au  

Centennial Coal Company Limited
Level 18, BT Tower,
1 Market Street
Sydney NSW 2000 Australia
Phone:  (61-2) 9266 2700
Fax: (61-2) 9261 5533
E-mail: cey1@centennialcoal.com.au
Web site: http://www.centennialcoal.com.au


AUSTRALIAN DIVING: Appoints Liquidator to Wind Up Company
---------------------------------------------------------
Notice is given that Susan Carter and Jason Bettles, Registered
Liquidators, of Downie Insolvency, Level 6, Fifty Cavill Avenue,
Surfers Paradise, Queensland, were appointed Liquidators of
Australian Diving Institute Pty Ltd at a general meeting of
Australian Diving Institute Pty Ltd (In Liquidation) A.C.N. 106
063 156 members on February 28, 2005.

Dated this 7th day of March 2005

Susan Carter
Liquidator
Downie Insolvency


BRYCECOVE PTY: To Declare Final Dividend April 20
-------------------------------------------------
A first and final dividend is to be declared on April 20, 2005
for Brycecove Pty Ltd (In Liquidation) A.C.N. 089 574 621.

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

Dated this 1st day of March 2005

John Park
Official Liquidator
KordaMentha (Qld)
Level 1, 307 Queen Street,
Brisbane Qld 4000
Telephone: (07) 3225 4900
Facsimile: (07) 3225 4999


CLARKEDALE NOMINEES: Liquidators Give Notice of Winding Up
----------------------------------------------------------
Bruno A. Secatore and Peter R. Vince of Level 7, 114 William
Street, Melbourne, the Liquidators of Clarkedale Nominees Pty.
Ltd. (In Liquidation) A.C.N. 005 696 551, give notice that:

(1) That creditors of the company (under administration)
resolved on March 7, 2005 under paragraph 439C(c) that the
company be wound up.

(2) Accordingly, the company is taken, because of the
application of Section 446A and regulation 5.3A.07, to have
passed on March 7, 2005 a special resolution under Section 491
that the company be wound up voluntarily.

Dated this 7th day of March 2005

B. A. Secatore
Bentleys MRI
114 William Street,
Melbourne Vic 3000


COMMUNITY ACCOMMODATION: Placed in Administrators' Hands
--------------------------------------------------------
After suffering a string of complex problems, Community
Accommodation Support Agency (CASA) called in administrators to
manage its affairs, according to ABC Premium News.

CASA wound up its Mount Gambier and Kingston operations earlier
this month after telling the Government it could no longer meet
the requirements of its intellectual disability service
agreement. The winding up resulted in the loss of 15 jobs.

Administrator Tim Burfield from Ernst and Young is now preparing
a review of assets and employee claims for a creditors meeting
scheduled at the end of this month. At the said meeting,
creditors will have to decide whether to return CASA to the
control of the board, to enter into a deed of Company
arrangement if one is proposed or for CASA to go into
liquidation.

"I would expect at this stage that CASA would go into
liquidation," Mr. Burfield said.

CONTACT:

Community Accommodation Support Agency Inc.
1 Compton Street
Mount Gambier SA 5290
Phone:(08) 87250077


DLF MINING: To Hear Liquidator's Account on Winding Up
------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act 2001 the final meeting of members of DLF Mining
Pty. Ltd. A.C.N. 088 342 929 will be held at the offices of
Bentleys MRI, Level 7, 114 William Street, Melbourne on April
18, 2005 at 10:00 a.m., for the purpose of laying before the
meeting the liquidator's final account and report and giving any
explanation thereof.

Dated this 4th day of March 2005

S. L. Horne
Liquidator
Bentleys MRI
114 William Street,
Melbourne Vic 3000


DRONAGAIN PTY: Passes Resolution at Meeting
-------------------------------------------
At a general meeting of the members of Dronagain Pty Ltd A.C.N.
002 477 536 duly convened and held at Level 11, 145 Eagle
Street, Brisbane, Queensland on February 23, 2005 the special
resolutions set out below were duly passed:

SPECIAL RESOLUTIONS:

(1) That the Company be wound up voluntarily and that Maree Ann
Henry and Raymond William Richards of SimsPartners, Level 11,
145 Eagle Street, Brisbane, be appointed Joint & Several
Liquidators for the purpose of such winding up.

(2) That on the winding up of the Company subject to the payment
of the debts and liabilities of the Company and the cost of
Liquidation, if necessary, the assets may be distributed amongst
the members in specie, the whole or in part according to their
rights and interests in the Company.

Dated this 23rd day of February 2005

Walter Harold Witt
Director
c/- SimsPartners
Level 11, 145 Eagle Street,
Brisbane Qld 4000
Telephone: (07) 3831 2700
Facsimile: (07) 3831 2799


HIH INSURANCE: APRA Disqualifies 20th Exec
------------------------------------------
The Australian Prudential Regulation Authority (APRA) has
announced the disqualification of Mr. George Osvald Sturesteps
from being or acting as a director or senior manager of a
general insurer under the Insurance Act 1973.

Mr. Sturesteps, over a long period, held various senior
positions in HIH Insurance Ltd (HIH) and its predecessor
companies, including Managing Director International from the
end of 1988, Executive Director from June 1992, Deputy Chief
Executive Officer from 1995. He was also a member of HIH's
reinsurance committee.

APRA found that Mr. Sturesteps demonstrated a lack of knowledge,
competence or diligence in carrying out his duties by

(1) In 1997 and 1998, arranging for HIH to enter into `fronting'
transactions where cover written for film finance for a total of
29 films was 100 per cent reinsured with Re AC and its
subsidiary Monde Re without adequate due diligence or risk
assessment. This resulted in HIH being exposed to significant
liability risk and ultimately incurring substantial losses;

(2) In 2000, failing to take steps to ensure that the HIH board
and its external auditors were informed of the contents of a
March 2000 report from US consulting actuaries Milliman and
Robertson that concluded that HIH America - which conducted
workers compensation business in California - was under-
provisioned by around US$53 million.

APRA's Deputy Chairman, Mr. Ross Jones, said that the regulator
expects the senior management of authorized insurers to ensure
that underwriting processes are rigorous and prudent, and that
boards and auditors are kept fully informed about matters likely
to affect the insurer's financial position.


HIH INSURANCE: Lies Put Adler Behind Bars
-----------------------------------------
Mr. Jeffrey Lucy, Chairman of the Australian Securities and
Investments Commission (ASIC), on Thursday announced that Mr.
Rodney Adler, a former director of HIH Insurance Limited (HIH),
has been sentenced to four-and-a-half years' jail, with a non-
parole period of two-and-a-half years, on four charges arising
from his conduct as a director of the HIH group of companies in
2000.

"ASIC is fully satisfied and believes this sentence
appropriately serves the public interest, and reflects the
serious nature of the charges on which Mr. Adler has been
convicted," Mr. Lucy said.

"The custodial sentence handed to Mr. Adler sends a clear
message to corporate Australia that ASIC, the community and the
Courts will not tolerate criminal behavior against the interests
of shareholders.

"Mr. Adler was in a position of trust as a director of HIH but
he put his own financial interests before the interests of HIH
shareholders.

"The law is very clear, company directors must act honestly and
in the best interests of shareholders. The sentence delivered by
Justice Dunford shows how the courts will deal with directors
who fail to uphold their legal duty," Mr. Lucy said.

In sentencing, Justice Dunford said:

The offences are serious and display an appalling lack of
commercial morality.Directors are not appointed to advance their
own interests but to manage the company for the benefit of its
shareholders to whom they owe fiduciary duties.They were not
stupid errors of judgment but deliberate lies, criminal and in
breach of his fiduciary duties to HIH as a director.

"It is in the public interest that time and resources are saved
by defendants pleading guilty early and, as required, the judge
has recognized this in the sentence. He also recognized that
these types of matters are notoriously difficult to investigate
and successfully prosecute," Mr. Lucy said.

"ASIC would like to thank the Commonwealth Director of Public
Prosecutions, who has worked closely with ASIC's HIH Taskforce
and prosecuted this matter in the courts," he said.

Mr. Adler was sentenced after pleading guilty on 16 February
2005 to four criminal charges:

(1) Two counts of disseminating information on 19 and 20 June
respectively, knowing it was false in a material particular and
which was likely to induce the purchase by other persons of
shares in HIH contrary to s999 Corporations Act 2001

(2) One count of obtaining money by false or misleading
statements, contrary to s178BB Crimes Act 1900 (NSW)

(3) One count of being intentionally dishonest and failing to
discharge his duties as a director of HIH in good faith and in
the best interests of that company contrary to s184(1)(b)
Corporations Act 2001.

Background

The sentencing of Mr. Adler follows ASIC's successful civil
penalty proceedings against him, which were commenced in 2001
and resulted in him being:

(1) Disqualified from acting as a director of any company for 20
years

(2) Ordered to pay compensation jointly with Adler Corporation
Pty Limited and Mr. Ray Williams of approximately $7 million,
and

(3) Ordered to pay a pecuniary penalty of $450,000. Adler
Corporation Pty Limited was also ordered to pay a pecuniary
penalty of $450,000.

ASIC's HIH investigation has already led to criminal
prosecutions of 9 former senior executives, including directors,
of FAI, HIH and associated entities on 31 Corporations and
Crimes Act charges. These criminal prosecutions include:

(1) On 23 December 2003, Mr. William Howard, a former General
Manager of HIH Insurance Limited, was sentenced to three years
imprisonment, fully suspended on the basis of on-going
assistance to the HIH investigation. Mr. Howard had pleaded
guilty to two counts of criminal misconduct, namely that he
dishonestly received from Mr. Brad Cooper approximately $124,000
in return for facilitating payments by HIH directly or
indirectly in favor of Mr. Cooper. Mr. Howard also admitted
facilitating a payment of $737,000 to a company associated with
Mr. Cooper knowing that the payment obligation had already been
discharged.

(2) On 22 October 2004, Mr. Bradley Cooper was committed for
trial on six charges of corruptly giving a cash benefit to
influence an agent of HIH Insurance Limited, namely Mr. Howard,
and seven charges of publishing a false or misleading statement
with intent to obtain financial advantage. The trial is set down
to commence on 1 August 2005.

(3) On 20 April 2004, Mr. Charles Abbott, the former Deputy
Chairman of HIH Insurance Limited, was charged with dishonestly
using his position as a company director. The committal hearing
is set down to commence on 30 May 2005.

(4) On 19 July 2004, Mr. Timothy Maxwell Mainprize was committed
for trial on charges of failing to act honestly in the exercise
of his powers and discharge of his duties as an officer of FAI
General Insurance Company Limited. He was also committed on one
count of providing false and misleading information. His trial
is set down to commence on 5 September 2005.

(5) On 19 July 2004, Mr. Daniel Wilkie was committed for trial
on charges of failing to act honestly in the exercise of his
powers and discharge of his duties as an officer of FAI General
Insurance Company Limited. He was also committed on one count of
providing false and misleading information. His trial is set
down to commence on 5 September 2005.

(6) On 19 July 2004, Mr. Stephen Burroughs was committed for
trial on charges of failing to act honestly in the exercise of
his powers and discharge of his duties as an officer of FAI
General Insurance Company Limited.

(7) On 15 December 2004 Mr. Ray Williams pleaded guilty to three
charges, namely of failing to properly exercise his duties as
company director by signing a misleading letter to FAI Note
Holders, giving investors misleading information in the HIH
1998-99 Annual Report and omitting information from a prospectus
to raise up to $155 million for the takeover of FAI. Mr.
Williams is to be sentenced on Friday 15 April 2005.

(8) On 24 March 2005 Mr. Terry Cassidy pleaded guilty to two
charges of recklessly making false statements and one charge of
recklessly failing to discharge his duties as a director for a
proper purpose. There will be a sentencing hearing commencing on
19 April 2005.


HINDPATH PTY: To Pay Dividend April 20
--------------------------------------
A first and final priority dividend is to be declared by April
20, 2005 for Hindpath Pty Ltd (Subject To Deed Of Company
Arrangement) formerly trading as Nomads Utopia A.C.N. 073 342
391.

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

Dated this 8th day of March 2005

Gerald T. Collins
Deed Administrator
c/- Horwath Jefferson Stevenson
Level 4, 370 Queen Street,
Brisbane Qld 4000


IDEAL PROPERTY: Final Meeting Set for Today
-------------------------------------------
Notice is given that a final meeting of members of Ideal
Property Services Pty Ltd (In Voluntary Liquidation) A.C.N. 010
990 511 will be held concurrently at Level 32, 345 Queen Street,
Brisbane Qld 4000 today, April 15, 2005 at 10:30 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the company has been disposed of, and to receive any
explanation of the account.

Dated this 2nd day of March 2005

P. A. Hennessy
Liquidator
KPMG
c/- Level 32, Central Plaza One,
345 Queen Street, Brisbane Qld 4000
Telephone: (07) 3333 9838


JAMES HARDIE: Former Boss Tops Up Payout
----------------------------------------
A former James Hardie Industries chief has added to his
controversial AU$8.8 million resignation payout by cashing in
some options over share in the troubled building products
manufacturer, Sydney Morning Herald reports.

Peter Macdonald on Wednesday converted 100,000 options into
shares by paying James Hardie AU$3.18 each and made instant
profit of AU$290,000. He holds a further 1.1 million options
exercisable at the same price, which would deliver a profit of
AU$3.2 million.

One of the terms when James Hardie granted the options in 1999
was that the company would cancel them if Mr. Macdonald did not
exercise them within six months of his departure as an employee.

Mr. Macdonald resigned as chief executive on October 22 in the
wake of a scandal about James Hardie's AU$2 billion underfunding
of asbestos compensation. His AU$8.8 million payout, which
included severance pay, superannuation, bonuses from past years
and accrued leave, was criticized by politicians, union leaders
and asbestos support groups.

When the sum was disclosed in October, negotiations to ensure
future funding for sufferers of asbestos diseases were
unresolved.

CONTACT:

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

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

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

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

All other inquiries to CustomerLink Service Centre on 13 1103.


JT HAZLETT: Fixes April 28 as Date of Meeting
---------------------------------------------
Notice is hereby given pursuant to Subsection 509(3) and (4) of
the Corporations Law that a General Meeting of the Members of JT
Hazlett Pty Ltd (In Liquidation) A.C.N. 000 422 560 will be held
April 28, 2005 at the 372 Stenner Street, Toowoomba for the
purpose of laying before the meeting the liquidator's final
account and report and giving any explanation thereof.

Dated this 2nd day of March 2005

Cornelis A. Roggeveen
Liquidator


KNIGHTS INSOLVENCY: Trading Halt Fuels Speculation
--------------------------------------------------
The temporary suspension of shares of Knights Insolvency
Administration has fueled rumors that a U.S.-based firm was keen
on buying a stake in the ailing Company of liquidators, Courier
Mail reports.

Knights, which sells off or revives troubled companies, refused
to comment on any speculation but said an announcement would be
released soon.

Knights Chief Operating Officer Grant Murphy cited three options
the firm would probably take to rescue its business. One option
would be another company taking a stake. The Company could also
continue trading by itself following a restructure. The third
option to wind down the Company "was not discussed at all".

The struggling company recently hit headlines as the Australian
Securities and Investments Commission investigates accounts
following a sudden loss for the half year of AU$3 million.

Last month, Knights opted to retain the services of high-profile
turnaround expert Ian Ferrier of rival Ferrier Hodgson to help
resolve its current woes.

CONTACT:

Knights Insolvency Administration Ltd
Level 14, Brisbane Club Tower
241 Adelaide Street
Brisbane QLD 4000
Phone: 61-7-3004 3200
Fax: 61-7-3004 3201
Web site: http://www.knights.com.au/


LCA LOGISTICS: Appoints Receivers and Managers
----------------------------------------------
Notice is hereby given that on February 18, 2005 Austin Robert
Meerten Taylor and Anthony William James of Meertens, Chartered
Accountants, Level 10, 68 Grenfell Street, Adelaide, South
Australia, were appointed Joint & Several Receivers and Managers
of the assets of LCA Logistics Pty Ltd by AddCash Corporation
Pty Ltd (Receiver & Manager Appointed) A.C.N. 106 526 612 in
exercise of the powers contained in registered Deed of Charge
No. 993478.

Dated this 2nd day of March 2005

A. R. M. Taylor
Joint & Several Receiver & Manager
Meertens
Chartered Accountants
Level 10, 68 Grenfell Street,
Adelaide SA 5000
Telephone: (08) 8418 8900
Facsimile: (08) 8232 5077


LEVERAGE PETROLEUM: Sets April 18 as Date of Final Meeting
----------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act 2001 the final meeting of members of Leverage
Petroleum Pty. Ltd. A.C.N. 096 135 778 will be held at the
offices of Bentleys MRI, Level 7, 114 William Street, Melbourne
on April 18, 2005 at 10:00 a.m., for the purpose of laying
before the meeting the liquidator's final account and report and
giving any explanation thereof.

Dated this 4th day of March 2005

S. L. Horne
Liquidator
Bentleys MRI
114 William Street,
Melbourne Vic 3000


MASTERTRADE PTY: To Hold Final Meeting Today
--------------------------------------------
Notice is given that a final meeting of members of Mastertrade
Pty Ltd (In Voluntary Liquidation) A.C.N. 065 441 269 will be
held concurrently at Level 32, 345 Queen Street, Brisbane Qld
4000, on April 15, 2005 at 10:30 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the company has been disposed of, and to receive any
explanation of the account.

Dated this 2nd day of March 2005

P. A. Hennessy
Liquidator
KPMG
c/- Level 32, Central Plaza One,
345 Queen Street,
Brisbane Qld 4000
Telephone: (07) 3333 9838


MITSUBISHI AUSTRALIA: Extends Recall of Magna, Verada Sedans
------------------------------------------------------------
Mitsubishi Motors Australia has recalled additional vehicles to
fix a potential problem that could lead to a fuel leak,
according to the Sydney Morning Herald.

The embattled carmaker has extended a recall of thousands of
Magna and Verada sedans and wagons to include cars built as
early as April 28, 1999. Last year, the Company issued the
recall on cars built between Nov. 3, 1999 and Aug. 21, 2002.

Mitsubishi said there was a possibility that the silencer pad in
the engine bay might retain moisture, which may result in
corrosion and eventual perforation of the fuel pipe causing a
fuel leak.

Mitsubishi advised owners of cars affected by the recall to
contact a dealer to arrange to have the fuel pipe inspected and
replaced if necessary.

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


MULTIPLEX: Eyes U.S. Retail Portfolio
-------------------------------------
Multiplex Group Limited is in talks to buy a portfolio of retail
assets in the United States reportedly worth AU$1 billion,
Sydney Morning Herald says.

The Company said it was holding discussions with a U.S. REIT
(real estate investment trust) regarding a possible transaction
involving a portfolio of retail assets within the U.S. The
announcement confirmed reports that the group was eyeing a
portfolio of nearly 100 shopping centers in the United States
from New Plan Excel.

In a separate deal, Multiplex admitted that it was looking at
selling assets in Multiplex Property Trust, rumored to be key
buildings in Sydney and Melbourne worth a total of more than
AU$465 million.

Multiplex made the comment in response to a report in the
Australian Financial Review, which suggested Multiplex would
divest two trophy assets such as its 222 Exhibition Street
building in Melbourne and part of its World Square development
in Sydney to investment company Allco Finance Group.

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


NISI IMATHIAS: Members Resolve to Wind Up Company
-------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Nisi Imathias Holdings Pty Ltd (In Liquidation)
A.C.N. 092 882 623 held on March 7, 2005, it was resolved that
the company be wound up voluntarily and at a meeting of
creditors held on the same day pursuant to Section 497, it was
resolved that for such purpose, Loke Ching Wong and William
Bernard Abeyratne of Harrisons Insolvency, Level 1, 49-51 Stead
Street, South Melbourne be appointed joint and several
liquidators.

Dated this 7th day of March 2005

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


PITCON WORKFORCE: Members Pass Winding Up Resolution
----------------------------------------------------
Notice is hereby given that on March 2, 2005 the following
special resolution was passed that Pitcon Workforce Pty Ltd (In
Liquidation) A.B.N. 33 086 435 467 be wound up voluntarily in
accordance with the Corporations Act 2001 relating to the
Creditors' Voluntary Winding Up and that Mr. K. L. Sutherland
and Mr. H. A. MacKinnon, Chartered Accountants, of 332 St Kilda
Road, Melbourne be appointed joint and several Liquidators.

Dated this 2nd day of March 2005

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


QANTAS AIRWAYS: Marketing Head Bids Farewell
--------------------------------------------
The marketing head of Qantas Airways has decided to leave the
airline citing family reasons, relates the Sydney Morning
Herald.

Martin McKinnon, who will have been more than two years in the
role in June, steps down as the Company undergoes a restructure
of its sales and marketing operations.

His role has now been assigned to the head of sales, Rob Gurney,
who will take the title of head of sales and marketing.

CONTACT:

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


RM NO.14: Final Meeting Slated for April 21
-------------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act 2001, the final meeting of members of RM No.14
Pty Ltd (In Liquidation) A.C.N. 001 066 913 will be held at the
offices of Michael Flegg Pty Ltd, Suite 802, Level 8, 37 Bligh
Street, Sydney, NSW, 2000, on April 21, 2005 at 9:00 a.m. for
the purpose of laying before the meeting the liquidators' final
account and report and giving any explanation thereof.

Dated this 1st day of March 2005

Michael Flegg
Michael Flegg Pty Ltd
Suite 802, Level 8, 37 Bligh Street,
Sydney NSW 2000


P.J. & J.A.: Members Decide to Wind Up Company
----------------------------------------------
At a general meeting of the members of P.J. & J.A. Harcourt
Builders Pty Ltd (The Company) A.C.N. 007 133 208 duly convened
and held at the Level 8, 525 Collins Street, Melbourne on March
3, 2005 the Special Resolution set out below was duly passed:

That the company be wound up voluntarily.

Dated this 3rd day of March 2005

Philip John Harcourt
Director
c/- RSM Bird Cameron
Chartered Accountants
Level 8, 525 Collins Street,
Melbourne Vic 3000
Telephone: (03) 9286 1800
Facsimile: (03) 9286 1899


PRODICT PTY: To Undergo Voluntary Winding Up
--------------------------------------------
At a general meeting of the members of Prodict Pty Ltd (In
Liquidation) A.C.N. 097 258 770 duly convened and held at
SimsPartners, Level 6, 12 Pirie Street, Adelaide SA on March 1,
2005 at 11:00 a.m. the resolutions set out below were duly
passed:

SPECIAL RESOLUTION

That the company be wound up voluntarily.

ORDINARY RESOLUTION

That Desmond Robert Munro & Andre Janis Strazdins of
SimsPartners, Level 6, 12 Pirie Street, Adelaide be nominated
Joint and Several Liquidator for the purpose of the winding up.

Dated this 1st day of March 2005

Craig James Cowling
Director


VOCON PTY: To Declare Final Dividend April 20
---------------------------------------------
A first preferential dividend is to be declared on April 20,
2005 for Vocon Pty Ltd (In Liquidation) A.C.N. 103 367 095.

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

Dated this 1st day of March 2005

C. M. Williamson
Liquidator
Hall Chadwick
Level 40, BankWest Tower,
108 St George's
Terrace, Perth WA 6000



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


CREATOR'S ENGINEERING: Enters Winding Up Proceedings
----------------------------------------------------
Creator's Engineering (International) Limited with registered
office located at Flat G, 2/F, Block 13, Site 11, Whampoa
Garden, Kowloon was issued a winding up notice by the High Court
of the Hong Kong Special Administrative Region Court of First
Instance on March 23, 2005.

Date of Presentation of Petition: January 26, 2005

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


GO MEDIA: Court Issues Winding Up Notice
----------------------------------------
Go Media Limited with registered office located at Unit 4, 1/F
Kowloon Bay Industrial Centre, 15 Wang Hoi Road, Kowloon Bay,
Kln 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: January 27, 2005.

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


HAISAN CARGO: Receives Winding Up Order
---------------------------------------
Haisan Cargo Transport Company Limited with registered office
located at Flat G, 2/F, Block 13, Site 11, Whampoa Garden,
Kowloon 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: January 26, 2005

Dated this 8th day of April 2005.

ET O'Connell
Official Receivers


NETEL TECHNOLOGY: Net Loss Shrinks to HKD9.14 Mln
--------------------------------------------------
Netel Technology (Holdings) Limited (8256) disclosed its
financial results for the nine months ended February 28, 2005.

Year end date: 31/05/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee


                            (Unaudited)         (Unaudited)
                             Current           Last
                                               Corresponding
                             Period            Period
                             from 01/06/2004   from 01/06/2003
                             to 28/02/2005     to 29/02/2004
                           Note ('000)         ('000)

Turnover            :           22,649             43,497
Profit/(Loss) from Operations: (20,311)           (40,189)       
Finance cost                 : (171)              (212)          
Share of Profit/(Loss) of
  Associates                 : N/A                 N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities: N/A                N/A               
Profit/(Loss) after Tax & MI :(9,140)            (12,656)          
% Change over Last Period    : N/A                %
EPS/(LPS)-Basic (in dollars) : (0.0235)           (0.0333)          
   -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss): N/A              N/A               
Profit/(Loss) after ETD Items : (9,140)          (12,656)          
3rd Quarter Dividend          :  N/A             N/A
  per Share                                              
(Specify if with other        :  N/A             N/A
  options)                                               
                                                         
B/C Dates for
  3rd Quarter 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   


For and on behalf of
Netel Technology (Holdings) Limited
  
Name:  CHAN FAI TAI
Title: COMPANY SECRETARY  

Remarks:

1. Basis of preparation

The Company was incorporated in the Cayman Islands on 9
September 2002 as an exempted company with limited liability
under the Companies Law of the Cayman Islands, Cap 22 (Law 3 of
1961, as consolidated and revised), of the Cayman Islands.

The accounts have been prepared in accordance with accounting
principles generally accepted in Hong Kong and comply with
accounting standards issued by the Hong Kong Institute of
Certified Public Accountants (HKICPA). They have been prepared
under the historical cost convention.

The accounting policies adopted in the preparation of the
unaudited consolidated profit and loss account are consistent
with those adopted by the Group in its annual accounts for the
year ended 31 May 2004.

2. Loss per share

The calculation of basic loss per share for the three months and
nine months ended 28 February 2005 are based on the Group's loss
for the three months and nine months ended 28 February 2005 of
approximately HK$2,934,000 and HK$9,140,000 respectively (three
months and nine months ended 29 February 2004: loss for the
period of approximately HK$4,895,000 and HK$12,656,000
respectively) and the weighted average of 386,230,000 and
389,675,897 shares in issue during the three and nine months
ended 28 February 2005 (three months and nine months ended 29
February 2004: 380,000,000 shares).

Diluted loss per share for the current and prior's periods is
not presented, as there is no dilutive instrument granted by the
Company.

CONTACT:

Netel Technology (Holdings) Limited
Room 4102, 41/F, Manulife Plaza
The Lee Gardens, 33 Hysan Avenue
Causeway Bay, Hong Kong  
Phone: 25768826  
Fax: 25760730  


NEW SMART: Posts HKD39.9 Mln Net Loss in 2004
---------------------------------------------
New Smart Holdings Limited (0091) announced its financial
results ended December 31, 2004.

Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified

                            (Unaudited)           (Unaudited)
                             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                           : 143,930            46,198            
Profit/(Loss) from Operations      : (34,268)           (32,458)          
Finance cost                       : (2,792)            (3,339)           
Share of Profit/(Loss) of
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : (39,983)           (39,448)          
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.078)            (0.08)            
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (39,983)           (39,448)          
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 Annual         
  General Meeting                  : 06/06/2005 to 08/06/2005
bdi.
Other Distribution for             : N/A
  Current Period                     
                                     
B/C Dates for Other
  Distribution                     : N/A   

CONTACT:

New Smart Holdings Limited
Units 903-905A
Harcourt House
39 Gloucester Road
Wanchai, Hong Kong  
Phone: 28020006  
Fax: 28020368  


RADFORD CAPITAL: 2004 Net Loss Widens To HKD28.4 Mln
----------------------------------------------------
Radford Capital Investment Limited (00901) announced its
financial results ended December 31, 2004.

Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified

                               (Unaudited)           (Unaudited)
                                Current                 Last
                                                   Corresponding
                                Period                 Period
                             from 01/01/2004     from 01/01/2003
                             to 31/12/2004         to 31/12/2003
                                Note ($)                 ($)

Turnover                           : 154,085,366        
54,907,966        
Profit/(Loss) from Operations      : (28,229,918)       
(1,256,144)       
Finance cost                       : (205,757)          
(130,468)         
Share of Profit/(Loss) of
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : (28,435,675)       
(1,386,612)       
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.0206)           (0.0014)          
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (28,435,675)       
(1,386,612)       
Final Dividend                     : 0                  0
  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   

The calculation of basic loss per share for the Year is based on
the loss for the Year of HK$28,435,675 (2003: HK$1,386,612) and
on the weighted average number of 1,378,860,710 (2003:
1,018,862,137) shares in issue during the Year.
  
CONTACT:

Radford Capitla Investment Limited
31st Floor
China United Centre
28 Marble Road
North Point, HK  
Phone: 31980333  
Fax: 25160266  


RESOUPORTER LIMITED: Court Releases Winding Up Order
----------------------------------------------------
Resouporter Limited with registered office located at 22nd
Floor, No. 3 Lockhart Road, Wanchai, 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: January 26, 2005.

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


RICH WEALTH: Court Orders Winding Up
------------------------------------
Rich Wealth (HK) Limited with registered office located at No. 1
Minden Avnue, G/F, 1-3 Minden Avenue, Tsimshatsui, Kln 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: January 27, 2005.

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


STARTERS HOLDING: High Court Issues Winding Up Notice
-----------------------------------------------------
Starters Holding Company with registered office located at G/C,
Tower 14, Parc Oasia Yau Yat Chuen, Kln 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: January 26, 2005.

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


UNIVERSAL CROWN: Receives Winding Up Order
------------------------------------------
Universal Crown International Limited with registered office
located at G/C, Tower 14, Parc Oasia Yau Yat Chuen, Kln 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: January 26, 2005.

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


WORLD WIDE: Winding Up Hearing Slated for May 11
------------------------------------------------
Notice is hereby given that a Petition for the Winding up of the
World Wide Express Transports Co. Ltd. by the High Court of Hong
Kong was on the 9th day of March, 2005 present to the said Court
by Chow Kam Wah of Room 702, Oi Tai House, Fu Tai Estate, Tuen
Mun, New Territories, Hong Kong.  

The said petition is to be heard before the Court at 9:30 a.m.
on May 11, 2005.

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

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

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

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.  The Notice must state the
name and address of the person, or if a firm or his or their
Solicitor (if any) and must be served or if posted, must be sent
by post in sufficient time to reach the abovenamed not later
than six o'clock in the afternoon of May 10, 2005.


YAU CHOI: Enters Winding Up Proceedings
---------------------------------------
Yau Choi Development Limited with registered office located at
9th Floor, Henan Bldg, 90-92 Jaffee Road, Wanchai, 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: January 27, 2005.

Dated this 8th day of April 2005.

ET O'Connell
Official Receiver


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

ASIA PULP: Denies Illegal Logging Accusations
---------------------------------------------
In a ceremony held by paper firm Sinar Mas Asia Pulp and Paper-
China (APP), students from 12 universities staged a protest
against the firm, accusing the firm of destroying forest
resources in southern China, the China Business Weekly reports.

Environmental protection group Greenpeace, which has urged
students to boycott APP products, has asked APP to admit its
mistakes and to stop illegal logging of China's forests.

But APP dismissed the accusations, saying that it would improve
the forest coverage rate in China, specifically in Hainan
province, by 2%. The Company has a new pulp plant in Hainan.
Company president Teguh Ganda Wijaya says that they are doing
nothing wrong, they are planting their raw materials like
eucalyptus, and are also promoting the paper-making industry in
China.

APP's Hainan plant has an annual capacity of 1 million tons of
pulp, and this would lessen the need to import pulp from other
countries, said Qian Guijing, chairman of the China Paper
Association.

Greenpeace alleges that APP's plant in Hainan needs to consume a
large amount of timber, and that the existing forest being
planted by the Company would not be enough to meet demand. The
group has also said that eucalyptus has diverse affects on local
plants, creating an imbalance in the environment.

The Company argues that it has a long-term plan to meet demand
for eucalyptus, and that the provincial government approved its
plan to plant around 200,000 hectares of eucalyptus to maintain
sustainable growth. It would also import timber from Indonesia.

Hainan Governor Wei Liucheng has said that APP hasn't polluted
or destroyed the province's natural resources, and has in fact
put CNY2.4 billion into environment protection. But he said that
the method of tree planting in Hainan needs improvement.

APP is applying for a certificate of Forestry Stewardship
Council, which promotes the responsible management of the
world's forests, and hopes to receive the certificate within the
year.

CONTACT:

Asia Pulp & Paper Company Ltd.
69 Loyang Dr.
508958 Singapore
Phone: +65-6477-6118
Fax: +65-6477-6116
Web site: http://www.asiapulppaper.com


PERTAMINA: SC Wants Two Appeals to Be Heard in One Court
--------------------------------------------------------
The Supreme Court has said that the two separate appeals filed
by state-owned PT Pertamina and its business partners against a
KPPU ruling should be tried in one court if they appeal about
the same case, reports the Jakarta Post.

The first hearing of an appeal against the ruling by the
Business Competition Supervisory Commission (KPPU) was to be
heard last week, but was delayed since Pertamina, Frontline Ltd.
and consultant Goldman Sachs filed appeals in different courts.

According to Chief Justice Bagir Manan, the Supreme Court would
decide whether all appeals were filed in one court, but the
courts involved must send a request letter, which the Supreme
Court has not yet received.

KPPU lawyer David M.L. Tobing agreed with the Chief Justice,
saying it would be more efficient and less time consuming.

The first court session to hear the appeal of Frontline Ltd.,
which was scheduled on April 13, was postponed as the KPPU had
not submitted investigation papers to the court.

According to Mr. Tobing, the KPPU had sent a request to the
Supreme Court to combine together all the appeals, and was
waiting for approval from the court. In another hearing, judge
Agus Subroto also delayed the first session on Pertamina's
appeal.

Pertamina, Goldman Sachs, Frontline Ltd. and PT Equinox were
found guilty by the KPPU of violating laws on monopolies and
unfair business competition in the sale of two Very Large Crude
Carrier tankers last year. Goldman Sachs, Frontline and Equinox
were ordered to pay fines to shareholders and the government.

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


TELEKOMUNIKASI INDONESIA: Satellite Launch Faces Another Delay
--------------------------------------------------------------
PT Telekomunikasi Indonesia has postponed yet again the launch
of its new satellite, Telkom-2, from April 14 to mid-June, as it
awaits the completion of its "co-passenger", reports the Jakarta
Post.

According to Company President Director Kristiono, the launch
would use a dual-passenger spacecraft, and Telkom-2's co-
passenger is the Syracuse IIA from the French Defense Ministry,
which is still being completed. The satellite launch has been
postponed more than four times already.

Telkom-2, which costs around IDR1.17 trillion in construction
and launching expenses, was scheduled to launch from French
Guyana, to replace the Company's Palapa B4 satellite. The new
satellite is intended to improve network quality and to benefit
from the increased use of satellites in Asia.

The Company's Palapa B4 satellite was due for replacement in
2001 after 9 years in orbit; but the Company decided to let it
stay on, saying that the loss is negligible as compared to the
income generated from leasing it out.

CONTACT:

P.T. Telekomunikasi Indonesia (Persero)
Jalan Japati No 1
Bandung 40133
Indonesia
Phone: +62 22 452 1108
Fax: +62 22 452 1408
Web site: http://www.telkom.co.id/


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

DAIEI INCORPORATED: To Appoint HP Japan Head as President
---------------------------------------------------------
Daiei Incorporated has decided to appoint Mr. Yasuyuki Higuchi,
current President of Hewlett-Packard Japan Ltd. (HP Japan), as
its new President, Dow Jones reports.

Earlier this month, Daiei announced an across-the-board
management reshuffle, with Mr. Fumiko Hayashi, a renowned former
President of BMW Tokyo Corporation as Chairman and Chief
Executive Officer.

The appointments of the two are expected to be formalized after
approval by the companies' shareholders at their general meeting
in May.

HP Japan, the local unit of U.S. firm Hewlett-Packard Co. (HPQ),
said that Mr. Higuchi would resign on May 31, without giving
further details.

CONTACT:

Daiei Inc.
4-1-1, Minatojima Nakamachi
Chuo-ku,
Kobe 650-0046, Japan
Phone: +81-78-302-5001
Fax: +81-3-3433-9226


DAIEI INCORPORATED: Opens First Outlet Under New Management
-----------------------------------------------------------
Troubled supermarket chain operator Daiei Incorporated opened
its first outlet in Osaka on Thursday after it gained
shareholders' approval for its entire management reshuffle,
Kyodo News reports.

The new outlet, specialized in food goods, is expected to serve
as a test of its reconstruction scheme that puts more value on
foodstuffs rather than on a wide range of products.


DAIKYO GROUP: IRCJ Receives Debt Payment in Full
------------------------------------------------
The Industrial Revitalization Committee of the Industrial
Revitalization Corporation of Japan (the IRCJ) has approved the
receipt of repayment in full for debt the IRCJ had purchased
from financial institutions as part of a business revitalization
plan for Daikyo Group and associated companies (Daikyo Group).

The payment received by the IRCJ means that it no longer holds
any debt or other obligations of Daikyo Group.

1. Name of company concerned

Daikyo Incorporated
Daikyo Kanri Incorporated
Daikyo Jutaku Ryutsu Incorporated
Okinawa Daikyo Incorporated

2. Process to date

On September 28, 2004 the IRCJ approved an application for
assistance by Daikyo Group under Article 22, Clause 3 of the
Industrial Revitalization Corporation Act of 2003. On
November 26 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.

Following this, a sponsor (Orix Corporation) was selected
according to the revitalization plan.

On January 31, 2005, Orix completed a capital alliance contract
with Daikyo Group, and on March 25, 2005 Daikyo Group made a
third-party allocation of shares to Orix.

3. Amount of debt

The principal value of Daikyo Group's debt purchased from
financial institutions by the IRCJ was JPY84,771 million*, for
which the IRCJ paid JPY56,588 million. JPY27,075 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 JPY57,696 million of debt held by the IRCJ, the
payment of JPY22,181 million received today means that the
amount of Daikyo Group debt owing to the IRCJ has now been paid
in full.

*Note: The difference between the amount of debt to be purchased
as announced at the time of the decision to purchase and the
final amount purchased is due to payments received, such as
those from the sale of real estate collateral.

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
Tel: 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.


JAPAN AIRLINES: Transport Ministry to Inspect Offices
-----------------------------------------------------
The Ministry of Land, Infrastructure and Transport will inspect
the headquarters and offices of Japan Airlines (JAL) at Narita
and Haneda airports from April 20 to April 22 to check if safety
measures are being carried out thoroughly, Dow Jones reports.

Among JAL's recent mishaps were air traffic control violations
at Shin Chitose Airport in Hokkaido, northern Japan and Incheon
Airport in Korea, as well as the use of inappropriate parts in a
Boeing 747 freighter's landing gear.

The airline said the mishaps occurred due to a drop in safety
awareness. It also cited a lack of communication between
management and front offices in merging the operations of the
former Japan Airlines Co. and Japan Air System Co. since October
2002.

CONTACT:

Japan Airlines Corporation
Address:  4-11, Higashi-shinagawa 2-chome
Shinagawa-ku, Tokyo 140-8605, Japan
Phone: +81-3-5769-6097
Fax: +81-3-5460-5929


MADARAO KOGENKAIHATSU: Begins Bankruptcy Proceedings
----------------------------------------------------
Madarao Kogenkaihatsu K.K. has begun bankruptcy proceedings with
total liabilities of US$48.60 million, says Teikoku Databank
America.

The sports facilities firm is located in Minato-ku, Tokyo 106-
0032.

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


MITSUKOSHI LIMITED: Posts JPY4.07 Bln Loss Due to Store Closures
----------------------------------------------------------------
Mitsukoshi Limited posted a group net loss of JPY4.07 billion
($37.8 million) for the year ended February 28, citing losses
related to store closures and job cuts, the Wall Street Journal
reports.

Store closure contributed a loss of JPY12.9 billion, while its
early retirement offers to 1,000 workers caused another loss
totaling JPY16.6 billion.

For the six months ending in February 29, 2004, the department
store operator posted a group net profit of JPY6.71 billion.

In a bid to turn its fortunes around, Mitsukoshi plans to close
three large department stores in Osaka, Yokohama and Kurashiki
in western Japan by May, and has already shut six small stores
in other locations across Japan.

The company has said the move will eliminate loss-making stores
and leave the company with profitable outlets.

Mitsukoshi Limited
1-4-1 Nihonbashi Muromachi
Chuo-ku, Tokyo 103-8001, Japan  
Phone: +81-3-3241-3311
Fax: +81-3-3242-4559


SANYO ELECTRIC: Enters Alliance With IBM Japan
----------------------------------------------
IBM (NYSE:IBM) and Sanyo Electric Co. Ltd. on Tuesday unveiled
initial plans for a prototype micro direct methanol fuel cell
system for IBM ThinkPad notebooks. Leveraging SANYO's latest
advancements in fuel cells that increase the longevity of
notebook batteries, IBM and SANYO jointly developed a basic
design of a fuel cell power source. Based on the design, the
companies developed a prototype fuel cell system that could
supply up to 8 hours of power per cartridge on current and
future ThinkPad models.

Unlike other prototypes that require a modified design to outfit
fuel cell batteries, SANYO's system was designed to be
compatible with most current ThinkPad models (1) without the
need to alter the notebook design -- demonstrating the
resiliency of the ThinkPad notebook's internal power
architecture. The fuel cell system also includes an auxiliary
bay IBM's Ultrabay Slim Battery to supplement peak power
consumption for business applications. In addition, the
auxiliary bay could be used to make the power supply even more
versatile by charging an Ultrabay Slim Battery.

The fuel cell system could enable ThinkPad notebooks to run
intensive business applications such as multimedia, graphics and
computation programs, while performing tasks such as security
updates and scheduled maintenance without draining PC battery
power. These capabilities could provide added stability for
increased productivity, access to information and customer
service.

"There are a number of vendors developing fuel cell battery
prototypes for PCs and mobile devices, but the combination of
IBM's first-class ThinkPad notebooks and SANYO's leadership
position in the technology will accelerate research and
development in the field," said Peter Hortensius, vice
president, IBM Personal Computing Division. "We do not focus
simply on the 'wow factor' of fuel cells -- we see it as a
powerful enabler that could support a wide variety of business
applications. These companies are collaborating to help carry
ThinkPad notebooks to the next generation of power supplies,
while supporting the highest levels of business productivity."

The IBM PC Division's ThinkPad development team has focused on
new behavioral usage models for fuel cells in mobile computing,
such as docking stations used for office 'hoteling' concepts and
the deployment of notebook computers in locations remote from
traditional power sources.

"SANYO, as the world technology leader in rechargeable
batteries, has been conducting research and development of fuel
cells. I am proud to work in earnest specifically with IBM to
create a innovative fuel cell system with the ThinkPad design,
the industry standard in business computing," said Mitsuru
Homma, Group Executive of SANYO's Power Solutions Group. "This
is quite a new concept that utilizes both micro fuel cells and
rechargeable batteries. This hybrid system could enable the user
to efficiently operate IBM's ThinkPad notebooks for a longer
time compared to systems with only a fuel cell while also
providing the convenience of an AC cordless environment."

The IBM PC Division's research and development of ThinkPad
mobile computing technology takes place at the Yamato Laboratory
in Kanagawa Prefecture, Japan and at development facilities in
Research Triangle Park, North Carolina. After the launch of the
new Lenovo Group in the second quarter, 2005, these resources
will be joined by Lenovo R&D facilities in Beijing and Shanghai.

SANYO is the world's leading producer of rechargeable batteries,
supplying power to mobile phones, notebook PCs and other mobile
devices. SANYO's Energy Research Facility is a stronghold for
research and development in the mobile energy field. SANYO is
building a strong base for the next generation of mobile energy
businesses by consistently performing fundamental and
application technology research, working with a wide range of
mobile energy related technology.

About IBM ThinkPad

IBM ThinkPad notebook PCs have won more than 1,000 industry
awards. Soon to join the Lenovo Group, IBM ThinkPad notebook and
ThinkCentre desktop personal computers utilizing ThinkVantage
Technologies are available through a combined worldwide
distribution and sales network spanning 160 countries. For more
information, see www.ibm.com/thinkpad.

A 2-minute video demonstration (3.75 MB) of the prototype fuel
cell design is viewable at:
http://domino.research.ibm.com/comm/pr.nsf/pages/rscd.tpf.html/$
FILE/ TP_fuelcell.mpeg. (Due to its length, this URL may need to
be copied/pasted into your Internet browser's address field.
Remove the extra space if one exists.)

Notes

IBM, ThinkPad, ThinkVantage, and Ultrabay are trademarks or
registered trademarks of International Business Machines Corp.

1) Current IBM and SANYO fuel cell prototypes can be used in
ThinkPad X-Series, T-Series and R-Series models.

Contact:
IBM
Bob Page, 919-486-0930
rpage@us.ibm.com

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


SHOWA KOKI: Files for Bankruptcy
--------------------------------
Showa Koki K.K. has begun bankruptcy proceedings with total
liabilities of US$84.11 million, says Teikoku Databank America.

The architectural metallic product manufacturer is located in
Chiyoda-ku, Tokyo 101-0031.

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


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

HYNIX SEMIXONDUCTOR: To Raise KRW2 Trillion to Repay Debt
---------------------------------------------------------
Creditors allowed Hynix Semiconductor Inc. to raise KRW2
trillion in syndicated loans and shares issuance in order to
repay its debts, reports Agence France Presse.

The Company would raise KRW1.25 trillion through syndicated
domestic loans, while KRW750 billion would come from an overseas
shares issuance, according to main creditor Korea Exchange Bank.

Around KRW1.5 trillion of the proceeds would go to repaying the
Company's debts, while the remaining KRW500 billion would be
used to fund operations.

The agreement, which is part of a debt workout program for the
Company, needs to be approved by other creditors by April 20,
2005.

Hynix Semiconductor was rescued from bankruptcy by creditors
with a KRW3.2 trillion bailout package. Creditors now own 81% of
the Company. Once Hynix graduates from its debt workout program
(scheduled before the due date in 2006), creditors can sell
their stake in the Company.

The Company was able to turn around in 2004 with a rise in
shipments of dynamic random access memory (DRAM) chips, and
posted an operating profit of KRW2.02 trillion last year, with
sales increasing 58% up to KRW6.09 trillion.

CONTACT:

Hynix Semiconductor Inc. (HIS)
891 Daechi-dong, Kangnam-gu,
Seoul, Korea
Phone: 82-2-3459-3470
Fax:   82-2-3459-5987/8
Web site: http://www.hynix.com


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

ANTAH HOLDINGS: Updates Amendment in Default Payment Details
------------------------------------------------------------
In accordance with Practice Note 1/2001 of Bursa Malaysia
Securities Berhad Listing Requirements, Antah Holdings Berhad
announced that the loan defaulted was updated to March 31, 2005
instead of Dec. 31, 2004.

The Company has updated the amendments in the details of the
Company's various credit facilities in default to financial
institutions as at March 31, 2005.

To view the amendments in the Company's default status report,
go to:

http://bankrupt.com/misc/tcrap_antahh041405.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


FABER GROUP: Granted Listing of Additional Shares
-------------------------------------------------
Faber Group Berhad's additional 415,000 new ordinary shares of
MYR1.00 each arising from the Company's Conversion of MYR830,000
nominal value of 2000/2005 irredeemable convertible unsecured
loan stocks into 415,000 new ordinary shares will be granted
listing and quotation effective Monday, April 18, 2005, 9:00
a.m.

CONTACT:

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


FORESWOOD GROUP: Bourse May Decide to Delist Securities
-------------------------------------------------------
Foreswood Group Berhad announced that it received a letter from
Bursa Malaysia Securities Berhad (Bursa Securities) dated April
12, 2005, stating that since the Company submitted an appeal to
the Securities Commission (SC) against its decision to reject
the Company's application for approval of its regularization
scheme, Bursa Securities will await the results of the Appeal.

Bursa Securities' decision is without prejudice to its right to
de-list the Company's securities from the Official List of Bursa
Securities in the event:

(a) the SC rejects the Appeal; or

(b) the Company fails to obtain approval from other regulatory
authorities necessary to implement its regularization plans.

If the Company obtains all the authorities' approvals necessary
for the implementation of its regularization plans, it must
implement its regularization plans expeditiously within the time
frame or extended time frames stipulated by the relevant
authorities. Bursa Securities' decision is without prejudice to
Bursa Securities' right to de-list the Company's securities of
from the Official List of Bursa Securities if the Company fails
to implement its regularization plans within the prescribed time
frame/s.

Bursa Securities further decided that if the Company obtains the
relevant authorities' approval but fails to implement its
regularization plans within the prescribed time frames by the
relevant authorities, Bursa Securities will consider any written
representations filed by the Company, which are made 7 days from
the expiry date of the prescribed time frames, and then decide
on whether the Company's securities should be de-listed from the
Official List of Bursa Securities.

CONTACT:

Foreswood Group Berhad
Level 4, B59
Taman Sri Sarawak Mall
Jalan Tunku Abdul Rahman
93100 Kuching , Sarawak
Malaysia
Phone: 6082-428626
Fax:   6082-423626


I-BERHAD: Posts Shares Buy Back Notice
--------------------------------------
I-Berhad disclosed the details of shares it had bought back on
April 13, 2005 to the Bursa Malaysia Securities Berhad.
  
Date of buy back: 13/04/2005

Description of shares purchased: Ordinary shares of MYR1.00 each

Total number of shares purchased (units):              5,300

Minimum price paid for each share purchased (RM):      0.800

Maximum price paid for each share purchased (RM):      0.800

Total consideration paid (MYR):                    4,272.14

Number of shares purchased retained in treasury
(units):  5,300

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

Cumulative net outstanding treasury shares as at to-date
(units): 1,435,500

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

CONTACT:

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


MAXIS COMMUNICATIONS: Set to List More Shares
---------------------------------------------
Maxis Communications Berhad's additional 111,000 new ordinary
shares of MYR0.10 each issued pursuant to the Company's Employee
Share Option Scheme will be granted listing and quotation
effective Monday, April 18, 2005, 9:00 a.m.

CONTACT:

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


MENTIGA CORPORATION: Bourse Mulls Delisting of Securities
---------------------------------------------------------
Mentiga Corporation Berhad announced that Bursa Malaysia
Securities Berhad (Bursa Securities) had via its letter dated
April 12, 2005 informed the Company in connection to their
decision in respect of de-listing procedures begun against the
Company as follows:

Since the Company submitted its Comprehensive Proposals to the
Securities Commission (SC) on March 15, 2005, Bursa Securities
has decided to await the results of the Company's application to
SC.

Bursa Securities' decision is without prejudice to its right to
proceed to de-list the Company's securities from the Official
List of Bursa Securities in case:

i) the Company fails to obtain any of the authorities' approvals
necessary for the implementation of the Comprehensive Proposals;
or

ii) the Company obtains all the authorities' approvals necessary
to implement the Comprehensive Proposals, but fails to implement
the Proposals within the time frame or extended time frames
stipulated by the relevant authorities.

Bursa Securities also decided that if the Company fails to
obtain the relevant authorities' approval of the Comprehensive
Proposals, the de-listing of its securities from the Official
List of Bursa Securities will be effected without any further
representations from the Company and without further
consideration of the matter by Bursa Securities. The Company
securities shall be removed from the Official List of Bursa
Securities upon the expiry of 14 days from the date of
notification by Bursa Securities or such other date as may be
specified by Bursa Securities.

If the Company obtains the relevant authorities' approval, but
fails to implement the Comprehensive Proposals within the
prescribed time frame/s, Bursa Securities will consider any
written representation filed by the Company, provided they are
made within 7 days from the expiry of the prescribed time frame;
Bursa Securities would then decide on whether the Company's
securities should be de-listed from the Official List of
securities.

CONTACT:

Mentiga Corporation Berhad
Jalan Kampar Off Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Phone: +60 3 40439411
Fax:   +60 3 40431233


NALURI BERHAD: Court to Hand Down Ruling on June 17
---------------------------------------------------
Naluri Berhad announced that the Kuala Lumpur High Court will
deliver its decision in respect of Petition No. D2-26-88-2004
filed by Adenan Bin Ismail against the Company and others,
including the various applications filed in respect of it, on
June 17, 2005.

In addition, the Court has fixed Suit No. D2-22-565-2004 filed
by Hazman Bin Ahmad against the Company and others, for next
mention on June 17, 2005, pending the results of the decision on
the Petition.

CONTACT:

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


PANTAI HOLDINGS: Repurchases More Shares
----------------------------------------
Pantai Holdings Berhad disclosed to the Bursa Malaysia
Securities Berhad details of its shares buy back on April 13,
2005.
  
Date of buy back: 13/04/2005

Description of shares purchased: Ordinary shares of MYR1.00 each

Total number of shares purchased (units):             21,000

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

Maximum price paid for each share purchased (RM):      1.030

Total consideration paid (MYR):                   21,454.40

Number of shares purchased retained in treasury
(units):  21,000

Number of shares purchased which are proposed to be cancelled
(units):          0
Cumulative net outstanding treasury shares as at to-date
(units): 28,562,800

Adjusted issued capital after cancellation
(no. of shares) (units): 0

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/


PUNCAK NIAGA: Seeks Shareholder Approval of Shares Buyback
----------------------------------------------------------
Puncak Niaga Holdings Berhad proposed on April 13 to buy back
10% of its shares and sought that its controlling shareholder be
excused from making a mandatory general offer (MGO) as a result
of the share buyback, reports The Star.

The Company had informed Bursa Malaysia Securities Berhad that
it could buy 8.5% of its paid-up capital, or 39.1 million
shares, if the shares buyback is based on a five-day weighted
average market price of MYR2.58/share. But if the share price
amounts to/is lower than MYR2.19/share, then the company could
buy 10% of its shares, or 46.1 million shares.

If the Company is able to buy back 10% if its shares, it
necessitates a MGO requirement, as controlling stakeholder
Central Plus Sdn Berhad's shareholding would rise from 41.1% to
46.1%, which is above the maximum allowed threshold (2% increase
within 6 months) for share acquisitions by a controlling
stakeholder to avoid making a mandatory general offer. This is
why the Company seeks that Central Plus Sdn Berhad be cleared
from making the MGO.

For further details on the share buyback, click on:

http://bankrupt.com/misc/tcrap_puncakniaga041405.pdf

CONTACT:

Puncak Niaga Holdings Berhad
Suite 1401-1406, 14th Floor
Plaza See Hoy Chan
Jalan Raja Chulan
50200 Kuala Lumpur
Malaysia
Phone: 03-20318648
Fax:   03-20784386
Web site: http://www.puncakniaga.com.my


WCT ENGINEERING: Lists Additional Shares Today
----------------------------------------------
WCT Engineering Berhad's additional 6,675,600 new ordinary
shares of MYR1.00 each issued pursuant to the Company's Exercise
of 6,675,600 Warrants 2000-2005 are granted listing and
quotation effective Friday, April 15, 2005, 9:00 a.m.

CONTACT:

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


YCS CORPORATION: Bourse Rejects Appeal
--------------------------------------
YCS Corporation Berhad announced that Bursa Securities had
informed the Company via its letter dated April 12, 2005 that:

i) the Apeals Committee of Bursa Securities has decided to
reject the Appeal by the Company and to de-list the Company's
securities from the Official List of Bursa Securities; and

ii) the Company's securities of the Company will be removed from
the Oficial List of Bursa Securities on Wednesday, April 27,
2005, 9:00 a.m.

CONTACT:

YCS Corporation Berhad
Taman Perindustrian UEP Subang Jaya
Subang Jaya, Selangor Darul Ehsan 47600
Malaysia
Phone: +60 3 80242922
Fax:   +60 3 80242911


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

COLLEGE ASSURANCE: SEC Exec Backs Actuarial Liabilities Changes
---------------------------------------------------------------
An official at the Securities and Exchange Commission (SEC)
supports College Assurance Plans (CAP) in its lobby for changes
in the actuarial treatment of pre-need trust funds, relates The
Philippine Star.

SEC Associate Commissioner Jesus Martinez wrote a letter to the
Senate, saying the Pre-need Uniform Chart of Accountants (PNUCA)
that the SEC had formulated may not be an effective way of
ensuring the true financial health of pre-need companies.

The PNUCA requires the setting up of an expense in the income
statement of a pre-need company and a liability account called
Actuarial Reserve Liability (ARL) in its balance sheet. The ARL
represents the accrued net liabilities of the pre-need company
to its planholders as determined and certified by an actuary
accredited by the SEC.

Mr. Martinez said the setting up of the ARL in the pre-need
company's balance sheet is contrary to International Accounting
Standards (IAS) 39 that requires the concurrence of three
conditions for an expense and a liability to be reflected in the
income statement and balance sheet of the pre-need company.

Mr. Martinez claim the IAS 39 is a sufficient gauge in
determining the true financial position of pre-need companies.

Under IAS 39, financial liability actually increases over time
as maturity of the pre-need product approaches. The increment
is, in turn, based on the effective interest rate that exactly
discounts the estimated future cashflows through the expected
life of the financial instrument.

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


MAYNILAD WATER: Two Creditors Cash in Receivables
-------------------------------------------------
Two creditors of Maynilad Water Services Inc. moved to sell
their receivables in the financially distressed water
concessionaire, Business World reports.

Chinatrust (Philippines) Commercial Bank Corp. and Barclays Bank
Plc. have cashed in on their exposure at a 20 percent discount
even before the courts could approve Maynilad's rehabilitation
plan.

Chinatrust sold its US$5-million Maynilad exposure to New York-
based fund manager Avenue Asia Investments L.P. for US$4
million, while Barclays was said to have turned over its claim
to Deutsche Bank. Barclays was among the consortium of bank that
provided a US$100-million bridge financing to Maynilad, while
Chinatrust was one of 13 guarantors of the US$120-million
performance bond that the water firm issued in favor of state-
run Metropolitan Waterworks and Sewerage System (MWSS).

Bank creditors had earlier questioned Maynilad's proposal to
force them to enter into a debt-to-equity swap, saying they
would rather wait for the Company to recover. By opting to exit,
the lenders effectively showed their unwillingness to wait for
between seven and eight years for Maynilad's debts to be paid.

Maynilad expects to obtain court approval of its revival program
by the end of the month.

CONTACT:

Maynilad Water Services Inc.
G/F MWSI Building, Katipunan Road
MWSS Compound, Balara
Quezon City
Philippines


NATIONAL BANK: Stake Auction to Kick Off in June
------------------------------------------------
The government expects to bid out by June two-thirds of a
combined 90-percent shareholding in the Philippine National Bank
(PNB), Business World says.

The joint technical committee in charge of the stake sale is
looking to finalize PNB's valuation by May and proceed with the
tender a month after.

The committee is in the process of picking an entity that will
be responsible for conducting an independent valuation of PNB
and scout potential investors in the bank. The candidates are
Citigroup, Deutsche Bank, Goldman Sachs, ING Bank, Macquarie
Securities and UBS Investment Bank.

Lucio Tan group would have to be notified once the floor price
is set. Mr. Tan's group, in turn, may signify its intention to
exercise its right to first offer as provided for under the 2002
joint sale agreement. This means the group can match the price
of whoever will win the public bidding or will be compelled to
buy 67 percent of the combined stake in case the bidding fails.

The 67 percent involves at least Php45 million common shares of
the national government, Php140.8 million preferred shares of
the deposit insurer and Php186 million shares for the Lucio Tan
group.

The government expects to reap as much as Php15 billion from the
shares sale, which should be completed before September 16 when
the government's joint sale deal with Mr. Tan expires.

CONTACT:

Philippine National Bank
Pres Diosdado P Macapagal Boulevard
PNB Financial Center
Pasay 1300
Philippines
Phone: +63 2 891 6040
Fax: +63 2 551 5187
Web site: http://www.pnb.com.ph


NATIONAL POWER: Nine Firms Eye Calaca Power Plant
-------------------------------------------------
Nine foreign and local firms are looking to purchase National
Power Corporation's (Napocor) Calaca power plant, The Philippine
Daily Inquirer reveals.

The 600-megawatt coal-fired facility in Batangas is the second
major asset to be placed on the auction block since the start of
Napocor's privatization.

The nine companies have submitted letters of intent expressing
their interest in the Calaca plant, said Froilan Tampinco, vice
president for asset management and electricity trading at Power
Sector Assets and Liabilities Management Corp. (PSALM).

PSALM, the agency handling Napocor's privatization, has set the
deadline for submission of bids on May 18.

Cash-strapped Napocor warned last week its debts could balloon
be nearly 50 percent to US$15.9 billion in the next two years if
its privatization program fails. The power Company had debts of
US$10.8 billion as of the end of 2004.

The Philippine government, which alone has US$69 billion in
debts, said last year it would absorb Php200 billion (US$3.7
billion) of Napocor's debt to help speed up the sale to private
investors of its power plants and transmission facilities.

CONTACT:

National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax:   +63-2921-2468
Web site: http://www.napocor.gov.ph/


PACIFIC PLANS: Files for Rehabilitation
---------------------------------------
Pacific Plans Inc. has filed for suspension of payments and
rehabilitation before the Makati Regional Trial Court citing
skyrocketing tuition fees, reports The Philippine Star.

The pre-need firm made the move as it foresees the impossibility
of meeting future claims of its 34,000 planholders because
school tuition has been increasing at a tremendous rate ever
since the government removed a 10-percent cap on tuition hikes
in 1990.

The Makati court on Wednesday issued a stay order, effectively
freezing all Pacific Plans payments to creditors, suppliers, and
plan holders until the company is rehabilitated.

Meanwhile, Securities and Exchange Commission (SEC) Chairperson
Fe Barin said the commission was still awaiting submissions from
Pacific Plans.

Pacific Plans stopped selling open-ended plans in 1992,
realizing it was a matter of time before the gap between tuition
and its income affected the company the way it did now. The SEC
ordered pre-need companies to stop selling this type of
education plan 10 years later for the same concerns.

Pacific Plans has appealed to plan holders who are not claiming
tuition support this school year not to go to its offices, to
allow smooth processing and release of checks.

CONTACT:

Pacific Plans Inc.
Web site: http://www.pacificplans.com/


PHILIPPINE LONG: Notes Changes in Shareholdings
-----------------------------------------------
Philippine Long Distance Telephone Company (TEL) furnished the
Exchange copies of Statement of Changes in Beneficial Ownership
of Securities (SEC Form 23-B) in the Capital Stock of the
Company, showing the changes that have taken place in the
shareholdings of its directors and officers and the amended SEC
Form 23-B of Mr. Ricardo M. Sison for the month of March 2005.

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

Further, the Company, in its letter dated April 11, 2005,
disclosed that:

"Records of our transfer agent, The Hongkong and Shangahi
Banking Corporation (HSBC), also show that J.P. Morgan Hongkong
Nominees Ltd. held 12.94283% of the total outstanding common
shares of the Company, as compared to previous month of
12.92587%."

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

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


UNIWIDE HOLDINGS: Declines to Identify Potential White Knights
--------------------------------------------------------------
Uniwide Holdings Inc. issued this announcement in reference to
the news article entitled "Uniwide shares edge up on white
knight talks" published in the April 14, 2005 issue of the
Business World.

The article reported that:

"Speculations that Chinese businessman Lucio Co, owner of the
Puregold chain of duty-free stores, is interested in Uniwide
Holdings Corp., yesterday pushed the share price of the former
no. 2 retailer to rise 26.83%.

"Mr. Co was said to be planning to use the former leading
retailer's name as leverage to further strengthen the presence
of his Company in the local market."

Uniwide Holdings, in a letter to the Exchange dated April 14,
2005, stated that:

"We confirm that we have received feelers from a number of
investors for Uniwide Holdings Inc. However, in view of
confidentiality concerns of these investors, we could not
disclose the identity of these interested parties."

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Uniwide Holdings, Inc.
Upper Ground Floor Pearl Plaza Bldg.
0165 Quirino Avenue, Brgy. Tambo
Paranaque City
Telephone Number: (632)-851-12-58


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

BUILDSPEED CONSTRUCTION: Posts Preferential Dividend Notice
-----------------------------------------------------------
Buildspeed Construction Pte Ltd (In Creditors' Voluntary
Liquidation) of 5 Jalan Masjid #01-09 Kembangan Court Singapore
418924 posted a notice of preferential dividend at the
Government Gazette, Electronic Edition with the following
details.

Amount per centum: 91 percentum of all admitted preferential
claims pursuant to section 328 (1) (g) of the Companies Act,
Cap. 50.

First and final or otherwise: First and Final

When payable: 15th April 2005

Where payable:

Chio Lim & Associates
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423

Dated this 12th day of April 2005

Chee Yoh Chuang
Lim Lee Meng
Liquidators


CAPITALAND LIMITED: Unit Strikes Sale Deal with Parco, Seiyu
------------------------------------------------------------
CapitaLand Limited (CapitaLand) advised the Singapore Stock
Exchange (SGX) that CapitaLand Retail (BJ) Investments Pte. Ltd.
(CapitaLand Retail BJ), an indirect wholly-owned subsidiary of
CapitaLand, had on April 13, 2005 entered into a sale and
purchase agreement with Parco (Singapore) Pte Ltd (Parco) and
Seiyu Holdings Pte Ltd (Seiyu, and together with Parco, the
Vendors) to acquire 114,358,242 ordinary shares of S$1 each in
the issued share capital of Seiyo Investment (S) Pte Ltd (Seiyo
Investment), constituting 100 percent of the issued share
capital of Seiyo Investment (the Sale Shares).

Seiyo Investment owns 10 percent of the issued and paid-up share
capital of Bugis City Holdings Pte Ltd (BCH), which in turn owns
80 percent, 75 percent and 90 percent of the issued and paid-up
share capital of BCH Retail Investment Pte Ltd (BCH Retail), BCH
Office Investment Pte Ltd (BCH Office) and BCH Hotel Investment
Pte Ltd (BCH Hotel) respectively.

In addition, Seiyo Investment owns 20 percent and 25 percent of
the issued and paid-up share capital of BCH Retail and BCH
Office respectively. Based on its audited financial statements
as at December 31, 2004, the net tangible assets value of Seiyo
Investment is approximately S$114 million, which ha s not taken
into account any revaluation surplus from its underlying assets.
The BCH group of companies own Bugis Junction, a mixed
development comprising retail, office and hotel components.

CapitaLand currently holds a 20 percent stake in the issued and
paid-up share capital of BCH through its indirect wholly-owned
subsidiary Victoria City Pte Ltd (VC). With the acquisition,
CapitaLand's stake in BCH, through both VC and Seiyo Investment,
will be at 30 percent. This would translate to an effective
stake of 44 percent in BCH Retail, 47.5 percent in BCH Office
and 27 percent in BCH Hotel.

The sale of the Sale Shares by the Vendors to CapitaLand Retail
BJ was for an aggregate cash consideration of approximately
S$139 million (Consideration). The Consideration was arrived at
on a willing buyer willing seller basis, taking into account,
amongst other factors, the value of the underlying assets.

The completion of the sale and purchase of the Sale Shares will
take place Thursday and the Consideration will be fully
satisfied in cash. Upon completion, Seiyo Investment will become
an indirect wholly owned subsidiary of CapitaLand.

Based on the audited consolidated financial statements of
CapitaLand for the financial year ended December 31, 2004 (being
the latest available audited consolidated financial statements
of CapitaLand):

(i) Assuming that the acquisition had been effected on January
1, 2004 the financial impact on CapitaLand Group's earnings per
share is not significant; and

(ii) Assuming that the acquisition had been effected on 31
December 2004, the financial impact on CapitaLand Group's net
tangible assets per share is also not significant.

None of the Directors or controlling shareholders of CapitaLand
has any interest, direct or indirect, in the said acquisition.

By Order of the Board
Tan Wah Nam
Company Secretary
April 14, 2005

To view a full copy of the news release, click
http://bankrupt.com/misc/CAPITALANDnewsrelease.14Apr05.pdf

CONTACT:

CapitaLand Limited
168 Robinson Road #30-01
Capital Tower
Singapore 068912
Telephone: 65 68233200
Fax: 65 68202202
Web site: http://www.capitaland.com


CAPITALAND LIMITED: Dormant Unit Struck Off from Registry
---------------------------------------------------------
CapitaLand Limited (CapitaLand) announced in a disclosure made
to the Singapore Stock Exchange (SGX) that its dormant indirect
wholly owned subsidiary, Silverlac Investments Ltd (Silverlac),
had upon its application and as subsequently notified in the
Government Gazette notification dated April 8, 2005 been struck
off the Register of Companies pursuant to Section 344(4) of the
Companies Act, Cap. 50 effective March 17, 2005.

The above striking-off of Silverlac does not have any material
impact on the net tangible assets or earnings per share of the
CapitaLand Group for the current financial year ending 31
December 2005.

By Order of the Board
Tan Wah Nam
Company Secretary
April 13, 2005


GREATRONIC LIMITED: To Receive Director's Report at AGM
-------------------------------------------------------
Notice is hereby given that the Annual General Meeting (AGM) of
the shareholders of Greatronic Limited will be held at 18 Cross
Street 8th Floor Marsh & McLennan Centre Singapore 048423 on
Saturday, 30 April 2005 at 1.00 pm to transact the following
businesses:

ORDINARY BUSINESS:

(1) To receive and consider the Directors' Report and Audited
Accounts for the year ended 31 December 2004 and the Auditors'
Report thereon.
Resolution 1

(2) To approve the payment of Directors' fees of S$151,000 for
the year ended 31 December 2004 (2003: S$135,000). Resolution 2

(3) To re-elect Mr. Cheong Quee Wah, a Director who retires by
rotation pursuant to Article 86 of the Articles of Association
of the Company.

(Mr. Cheong Quee Wah will, upon re-appointment as a Director of
the Company, remain as Chairman of the Audit Committee and is
considered independent for the purposes of Rule 704(8) of the
Listing Manual of The Singapore Exchange Securities Trading
Limited.) Resolution 3

(4) To re-appoint Messrs Ernst & Young as Auditors and to
authorize the Directors to fix their remuneration. Resolution 4

To view a full copy of the notice, click
http://bankrupt.com/misc/GreatronicNoticeofAGM140405.pdf

CONTACT:

Greatronic Ltd (formerly: Cybermast Ltd)
627A Aljunied Road #07-02
Biztech Centre
Singapore 389842
Telephone: 65 68417828
Fax: 65 68417282
Web site: http://www.greatronic.com/


JACKSON PILING: Proofs of Debt, Claim Due May 7
-----------------------------------------------
Jackson Piling & Civil Engineering Construction Pte Ltd (In
Liquidation) posted a notice of intended dividend at the
Government Gazette, Electronic Edition.

Address of Registered Office: c/o The Liquidator's Office.

Last day for receiving Proofs: 7th May 2005.

Name and address of Liquidator:

Mr. Don M Ho, CPA
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


JSD CONSTRUCTION: Requires Creditors to File Proofs of Claim
------------------------------------------------------------
In the matter of JSD Construction Pte Ltd (Under Judicial
Management) a winding up order was made on April 1, 2005.

Name and Address of Liquidator:

Tay Swee Sze
c/o Messrs Tay Swee Sze & Associates
30 Robinson Road
#04-01 Robinson Towers
Singapore 048546

Dated this 8th day of April 2005

Ramdas & Wong
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.


KATONG PARK: Receiving Proofs of Claim Until April 22
-----------------------------------------------------
Katong Park Hotel Pte Ltd. formerly of 42 Meyer Road Singapore
430015 posted at the Government Gazette, Electronic Edition a
notice of preferential dividend with the following details.

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 432 of 1998

Last Day for Receiving Proofs: 22nd April 2005

Name & Address of Liquidator:

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

Dated: 8th April 2005
Beverly Wee
Assistant Official Receiver


NESDEX PTE: To Hold First Creditors Meeting April 25
----------------------------------------------------
Notice is hereby given that the first meeting of the creditors
of Nesdex Pte Ltd (In Liquidation) will be held at AEC Centre,
141 Market Street, International Factors Building, Singapore
048944 on Monday, April 25, 2005 at 12:00 noon for the following
purposes:

AGENDA

(1) To lay before the creditors a full statement of the affairs
of the Company, showing the assets and liabilities of the
company;

(2) To appoint a Committee of Inspection if deemed necessary;
and

(3) Any other matters.

Dated this 12th day of April 2005.

Don M Ho, FCPA
Liquidator
c/o Don Ho & Associates,
Certified Public Accountants,
Corporate Advisory & Recoveries,
20 Cecil Street,
#12-02 & 03 Equity Plaza,
Singapore 049705
Telephone: 6532 0320 (8 lines)
Fax: 6532 0331

Note:

To entitle you to vote thereat, your proof of debt must be
lodged at the Registered Office of the Company c/o Don Ho &
Associates not less than forty-eight hours before the time for
that purpose in the notice conveying the meeting at which it is
to be used.


TUI CONSULTING: Requires Creditors Prove Claims by May 12
-------------------------- ------------------------------
Notice is hereby given that the Creditors of Tui Consulting Asia
Pte Ltd (In Members' Voluntary Liquidation), which is being
wound up voluntarily, are required on or before May 12, 2005 to
send in their names and addresses and the particulars of their
debts or claims and the names and addresses of their solicitors
(if any) to the undersigned, the Liquidators of the Company.

If so required by notice in writing from the said Liquidators,
they are to come in by their solicitors, or personally and prove
their 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 12th day of April 2005.

Chia Soo Hien
Ng Geok Mui
Liquidators
c/o BDO Raffles
5 Shenton Way
#07-01 UIC Building
Singapore 068808


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

KRUNG THAI: To Report Weaker Q1 Results
---------------------------------------
Krung Thai Bank is expected to tally a lower first-quarter net
profit in the year, but higher than the previous quarter,
Reuters reports.

The bank's lackluster performance may be attributed to fewer
investment gains and stunted loan growth.

Although first-quarter average loan growth was 9 percent on the
year, loan expansion slowed on the quarter due to project
delays, weak consumption and falling exports. But analysts said
that net interest margins in the first quarter are likely to
improve steadily from a year ago, after several banks redeemed
debt in 2004.

Krung Thai is expected to report its results by April 21.

CONTACT:

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




* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                         Total
                                         Shareholders   Total
                                         Equity         Assets
  Company                      Ticker    ($MM)          ($MM)
  ------                       ------    ------------   ------


CHINA & HONG KONG
-----------------
Guangdong Sunrise-B            200030    (-177.22)     45.09
Guangdong Sunrise-A            000030    (-177.22)     45.09
Hainan Dadong-A                000613     (-5.15)      18.72
Informatics Holdings Ltd         INFO       26.82      62.92
Shenzhen China Bicycles-B
Co., Ltd.                      200017    (-203.9)      52.16
Shenzhen China Bicycles-A
Co., Ltd.                      000017    (-203.9)      52.16


INDONESIA
---------
Barito Pacific Timber Tbk Pt    BRPT      (-62.86)     360.72
PT Smart Tbk                    SMAR      (-30.07)     430.99

JAPAN
-----

Fujitsu Comp Ltd                6719       (-46.88)    316.07

MALAYSIA
--------

Innovest Berhad                 INV        (-0.3)       10.64
Kemayan Corp Bhd                KOP      (-393.11)      67.55
Panglobal Bhd                   PGL       (-50.36)     189.92
YCS Corporation Bhd             YCS         28.34      160.27

PHILIPPINES
-----------

Pilipino Telephone Co.          PLTL     (-159.78)     280.22

SINGAPORE
---------

Pacific Century Regional          PAC      -176.29    1050.46

THAILAND
--------

Asia Hotel PCL                  ASIA       (-26.62)      96.21
Asia Hotel PCL                  ASIA/F     (-26.62)      96.21
Bangkok Rubber PCL              BRC        (-41.29)      80.14
Bangkok Rubber PCL              BRC/F      (-41.29)      80.14
Central Paper Industry PCL      CPICO      (-37.02)      40.41
Central Paper Industry PCL      CPICO/F    (-37.02)      40.41
Datamat PCL                 DTM        (-1.72)       17.55
National Fertilizer PCL         NFC        (-91.34)     293.84
National Fertilizer PCL         NFC/F      (-91.34)     293.84
Siam Agro-Industry Pineapple
And Others PCL                  SAICO      (-14.71)      13.38
Siam Agro-Industry Pineapple
And Others PCL                  SAIC0/F    (-14.71)      13.38
Thai Wah Public
Company Limited-F               TWC        (-47.01)     158.87
Thai Wah Public
Company Limited-F               TWC/F      (-47.01)     158.87
Tuntex (Thailand) PCL           TUNTEX     (-50.94)     398.25
Tuntex (Thailand) PCL           TUNTEX/F   (-50.94)     398.25






                            *********


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.

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                 *** End of Transmission ***