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

                     A S I A   P A C I F I C

             Wednesday, June 8, 2005, Vol. 8, No. 112

                            Headlines

A U S T R A L I A

AGENIX LIMITED: Forecasts Lower Loss Despite Restructuring
AQUA BODIES: Final Meeting Slated for June 17
ATIWEAL PTY: Creditors Agree to Wind Up Company
BICTECH PTY: Members, Creditors to Meet June 10
BONLAC FOODS: Placed On WatchPos Amid Fonterra Stake Buy Talk

BRIGHTON HOSPITAL: Liquidator to Report on Winding Up
CALIX GROUP: Lays Out Final Meeting Agenda
CARMINE CAMERLENGO: Final Meeting Date Fixed June 17
CLEARFLOW PLUMBING: To Declare Dividend June 24
DMA HOMES: Sets Final Meeting Date June 10

HANDWELL PTY: Members Pass Winding Up Resolution
HANELI PTY: Enters Winding Up Proceedings
HILLS MOTORWAY: Releases M2 Traffic Information
HINMARSH PTY: Names M.F. Cooper Official Liquidator
JUDALL PTY: Unveils Resolutions Passed at Meeting

KINGFISH DESIGN: Lays Out Final Meeting Agenda
LEYANE PTY: To Convene Final Meeting June 14
MCKITTRICK ENTERPRISES: Hires Liquidator to Wind Up Company
MEDIBANK PRIVATE: Government Revives Sale Plan
MILLER'S RETAIL: Revamp Leads to One-off Costs

MULTIPLEX: Wembley Hangs Over Olympic Votes
MULTIPLEX: Mulls Sale of Global Switch
NQ RENTALS: Collapse Leaves AU$11-Mn Debt
OROTON: Ends Exclusive Talks with Catalyst
PEGASUS LEVERAGED: Ex-director Pleads Guilty to AU$2.1-Mln Fraud

REPUBLICORP INTERNATIONAL: Appoints Official Liquidators
SANTOS LIMITED: S&P Says Ratings Unhurt By Accounting Changes
SCOTTCROKE PTY: To Undergo Voluntary Liquidation
VOLTRIM PTY: Liquidator to Detail Winding Up Account
WATERWORLD INDUSTRIES: Final Meeting Date Set June 10

WESTSIDE STEEL: To Hold Final Meeting June 10
WMC RESOURCES: Staff Face Cuts as BHP Moves In


C H I N A  &  H O N G  K O N G

BANK OF CHINA: Aims to Sell 10% Shares to Foreign Investors
BANK OF COMMUNICATIONS: First to Float Shares
FOK HING: Enters Bankruptcy
GROUP TREASURE: Enters Winding Up Process
HOUSING MANAGEMENT: Appoints Joint Liquidators

INDUSTRIAL AND COMMERCIAL: Ups Mortgage Rates
KONG WAH: Proposes New Liquidator Appointment
NAM FONG: Court Adjourns Winding Up Hearing June 13
NEW UNIVERSAL: Court Orders Winding Up
PEREGRINE CAPITAL: AGM Set for June 28

RICH & EASY: Receives Winding Up Order
WIDE SUCCESS: Court Releases Winding Up Order


I N D O N E S I A

BANK PERMATA: Moody's Upgrades Rating to E+
PERUSAHAAN LISTRIK: Seeks to Hike Power Rates by 12%
TOTAL E&P: Supreme Court Throws Out Bankruptcy Petition


J A P A N

FUJITSU LIMITED: Opts to Use Emulex LP10000 HBA
FUJITSU LIMITED: To Hold "Fujitsu Forum 2005" July 14
HITACHI LIMITED: Develops Through-Hole Electrode Technology
MITSUBISHI MOTORS: Tremont Firm Wins U.S. Deal
* Japan Banking Crisis Over, Says Fitch


K O R E A

CHOHUNG BANK: Sets Up Program to Help SMEs


M A L A Y S I A

AKTIF LIFESTYLE: Granted Extension to Submit Restructuring Plan
ANTAH HOLDINGS: Issues Update on Default in Payments
AYER HITAM: Posts Default Status Update
BELL & ORDER: To Re-elect Officers in Upcoming AGM
JASATERA BERHAD: Bourse to Delist Securities Soon

K.P. KENINGAU: Bourse OKs Extension to Announce Rehab Plan
NAUTICALINK BERHAD: Notes Advertisement Error
OCEAN CAPITAL: Securities Up for Delisting
PARK MAY: To Hold AGM June 28
POS MALAYSIA: Set to List New Shares

UNITED CHEMICAL: Schedules AGM on June 30


P H I L I P P I N E S

ATLAS CONSOLIDATED: Earmarks US$180 Mln for Carmen Mine
BELLE CORPORATION: To Build Medical Center for Japan Clients
BELLE CORPORATION: Still Can't Make Allocations for Expansion
CAMP JOHN: Prepares to Fight BCDA in Court
LEPANTO CONSOLIDATED: Says Union Protest Under Control

LIFETIME PLANS: Accuses SEC of Partiality
PACIFIC PLANS: Rehab Petition Hit Pre-Need Industry's Sales
RB PALOMPON: Liquidation Proceedings Near End
* Senate to Hear Planholders of Ailing Pre-need Firms


S I N G A P O R E

ALLGREEN PROPERTIES: SGX Lists Additional 33,000 Shares
FUNPOLIS ASIA: Gives Creditors Until June 17 to Prove Claims
HESHE HOLDINGS: Replaces Resigned Secretary
HPC ASIA: Faces Winding Up Proceedings
HWA HUP: Court to Hear Petition July 1

JENSEN & COMPANY: Proofs of Claim Due June 17
MORNINGTON COUNTRY: Court Schedules Hearing July 1
SEATOWN CORPORATION: Books SG$654,000 in Losses
WANT WANT HOLDINGS: Details Resignation, Appointment of Director


T H A I L A N D

WYNCOAST INDUSTRIAL: Notifies SET on 28th Warrant Exercise

     -  -  -  -  -  -  -  -

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

AGENIX LIMITED: Forecasts Lower Loss Despite Restructuring
----------------------------------------------------------
Biotechnology Company Agenix Limited forecasts a lower full year
loss for the year ended 30 June 2005 of between AU$12.3 million
and AU$12.8 million, compared to a loss in the prior year of
AU$14.3 million.

This result includes costs of restructuring the business and is
despite increased research and development expenditure resulting
from the continuing success of ThromboView.

Included in this loss is a AU$3 million pre-tax profit for the
year from Agen Biomedical's human and animal health medical
diagnostic businesses.

The full-year result is impacted by:

(1) Net R&D expenditure of AU$6.8 million (including ThromboView
project costs of AU$6.0 million),

(2) Corporate overheads and interest of AU$4.0 million,

(3) A loss of AU$2.5 million from the recently sold Milton
Pharmaceuticals business,

(4) An AU$1.0 million loss from expensed investment in
manufacturing and quality systems and sale of assets at Agen
Biomedical,

(5) Previously disclosed legal expenses of AU$0.3 million from
the settled Synbiotics case, and

(6) Redundancies of AU$0.4 million.

Mr. Don Home, Managing Director of Agenix, commented: "The
result is a mixture of continued success with our ThromboView
program and disappointing performance in the base business.

"This is primarily because the Company decided to invest in
additional infrastructure and operational capacity in
anticipation of increased revenues associated with a second
distributor for the animal health product range in the United
States. As this appointment has not occurred, the Board has
decided that it will reduce overheads and capacity until such
time as this appointment occurs."

Mr. Home also added, "In conjunction with the completion of
certain improvement programs that have been ongoing over the
past two years, approximately 13 staff will be immediately made
redundant which will result in combined savings of in excess of
$2.0 million compared to this year's expenditure."

These savings will mean that the Agenix base business
(encompassing the human and animal health diagnostic businesses
and the corporate office) will be profitable, cash flow positive
and capable of supporting the Company's current and anticipated
commitments, excluding R&D.

Sales for Agen Biomedical for the year ended 30 June 2005 are
forecast to show a 5% decline on last year on a currency
adjusted basis. Sales forecast for the 2005-06 financial year
are expected to show 17% growth based on the scaled-back
capacity. Efforts to expand distribution in both human and
animal health will continue.

Forecast cash and unused bank facilities at 30 June 2005 are
AU$8.6 million. This does not include any proceeds from the sale
of the Milton property. An offer has been accepted to sell this
property for AU$1.85 million, subject to completion of final due
diligence, and settlement is expected in July 2005.

R&D expenditure of AU$6.8 million was fully expensed in line
with the Company's existing accounting policy. This expenditure
primarily related to the advancement of the ThromboView project.

ThromboView has continued to meet critical milestones and the
positive results of the completed trials have led to the Board's
decision to continue to invest in the project to bring
ThromboView to market in the shortest possible time in order to
maximize shareholder value.

The expenditure to date on the ThromboView project has been
AU$19.6M (including forecast to 30 June 2005).

An announcement on ThromboView and the commitment to a
manufacturing contract and the development of a second product
using the ThromboView antibody fragment accompanies this
announcement.

Agenix continues to believe that it will complete a sales,
marketing and distribution agreement by December 2005.
Components of such an agreement would normally be expected to
include an upfront cash milestone payment and support for
clinical trial costs going forward.

Agenix Limited (ASX: AGX; OTC (NASDAQ): AGXLY) is a global
health and biotechnology Company based in Brisbane, Australia.
The Company runs a suite of established businesses in human and
animal health diagnostics, and is focused on growing its world-
leading molecular diagnostic imaging R&D program. Agenix's lead
candidate is its high-technology ThromboView blood clot-imaging
project, which is currently undergoing Phase II human trials in
the United States and Canada. ThromboView uses radiolabelled
antibodies to locate blood clots in the body, and could
revolutionise the US$3 billion global clot diagnostic imaging
market. ThromboView is being developed with the assistance of
the Federal Government through its START scheme. Agenix employs
110 staff and sells its products to more than 50 countries.
ThromboView is a registered trademark of AGEN Biomedical.

CONTACT:

Agenix Limited
11 Durbell Street
Acacia Ridge QLD 4110
Phone: +61 7 3370 6396
Fax: +61 7 3370 6347
E-mail: mail@agenix.com
Web site: www.agenix.com


AQUA BODIES: Final Meeting Slated for June 17
---------------------------------------------
Notice is hereby given that a Final Meeting of creditors and
members of Aqua Bodies Pty Ltd (In Liquidation), will be held at
the offices of O'Keeffe Walton Richwol, on June 17, 2005 at 9:30
a.m. for the purpose of laying before the meeting an account of
the liquidator's costs and dealings and the conduct of the
winding up.

Dated this 26th day of April 2005

O'Keeffe Walton Richwol
Liquidator
Suite 3, 431 Burke Road,
Glen Iris
Telephone: (03) 9822 9823


ATIWEAL PTY: Creditors Agree to Wind Up Company
-----------------------------------------------
Notice is given that the creditors of Atiweal Pty Limited (In
Liquidation) (Under Administration) resolved on April 26, 2005
that the Company be wound up pursuant to Section 439C(c) of the
Corporations Act 2001; and accordingly, the Company is taken
because of the application of Section 446A(2)(a) to have passed
on that day, a special resolution pursuant to Section 491 that
the Company be wound up voluntarily.

Dated this 27th day of April 2005

A. H. J. Wily
Liquidator
Armstrong Wily
Chartered Accountants
Level 5, 75 Castlereagh Street,
Sydney NSW 2000


BICTECH PTY: Members, Creditors to Meet June 10
-----------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Law
that an annual meeting of the members and creditors of Bictech
Pty Limited will be held on June 10, 2005 as indicated at C D
Darin & Co, Chartered Accountant, Suite 3, Level 4 12-14 Mount
Street, North Sydney NSW 2059 at 11:00 a.m., for the purposes of
having an account laid before them showing the manner in which
the winding up has been conducted and the property of the
Company disposed of and hearing any explanations that may be
given by the liquidator.

Dated this 10th day of May 2005


BONLAC FOODS: Placed On WatchPos Amid Fonterra Stake Buy Talk
-------------------------------------------------------------
Standard & Poor's Ratings Services said it has placed its 'B+'
long-term corporate credit and 'B-' subordinated debt ratings on
Bonlac Foods Ltd. on CreditWatch with positive implications
following announcement by Fonterra Co-operative Group Ltd.
(Fonterra; AA-/Stable/A-1+) that it intends to buy the remaining
50% of Bonlac it does not already own.

The acquisition is subject to approval by Bonlac Supply Co.'s
shareholders to sell. Fonterra will offer Bonlac Supply Co.
capital notes in exchange for their shares in Bonlac Foods.
"Resolution of the CreditWatch will follow successful completion
of the proposed acquisition and would probably lead to Bonlac's
rating being equalized with that on Fonterra," said Brenda
Wardlaw, credit analyst, Corporate & Infrastructure Ratings
group.

The 'B+' rating on Bonlac reflects the Company's weak financial
performance, high debt levels, weak liquidity, and narrow focus.
Fonterra's current 50% ownership of Bonlac and the benefits
brought by Fonterra's marketing expertise help soften these
negative factors.

Fonterra acquires and markets all of Bonlac's production, for
export and domestic markets, and provides management services to
Bonlac. These arrangements, together with debt reduction in
recent years and the reduction in Bonlac's hedge exposure have
stabilized Bonlac's financial profile. Bonlac's ability to
generate operating cash flows sufficient to satisfy its
commitments is a critical rating factor, especially given its
weak liquidity and the depletion of retained profits in fiscal
2004.

Standard & Poor's did not factor any explicit credit support
from Fonterra into the rating on Bonlac at the 50% ownership
level.

Bonlac's liquidity position is weak. Although Bonlac has
renegotiated its bank facilities to allow additional liquidity,
the facilities all mature during fiscal 2005. At June 30, 2004,
Bonlac had A$7.6 million in cash and A$70 million in undrawn
bank facilities, with A$95 million debt maturing in fiscal 2005.
A significant challenge for Bonlac is its ability to generate
free cash flows to pay a competitive price for milk, which is
needed to retain suppliers.

Bonlac sought and obtained waivers on specific covenant ratios
for fiscal 2004, due to the impact of restructuring charges.

CONTACT:

Bonlac Foods Limited
Level 7/636 St Kilda Rd
Melbourne
VIC 3004
Phone: +61 3 9270 0922
Fax: +61 3 9270 0911
Web site: http://www.bonlacfoods.com/


BRIGHTON HOSPITAL: Liquidator to Report on Winding Up
-----------------------------------------------------
Notice is hereby given that a Final Meeting of creditors and
members of Brighton Hospital Holdings (In Liquidation), will be
held at the offices of O'Keeffe Walton Richwol, on June 17, 2005
at 1:45 p.m. for the purpose of laying before the meeting an
account of the liquidator's costs and dealings and the conduct
of the winding up.

Dated this 26th day of April 2005

O'Keeffe Walton Richwol
Liquidator
Suite 3, 431 Burke Road,
Glen Iris
Telephone: (03) 9822 9823


CALIX GROUP: Lays Out Final Meeting Agenda
------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Act, a final meeting of members and creditors of
The Calix Group (In Liquidation) will be held at the offices of
PPB, Level 1, 5 Mill Street, Perth, WA on Friday, June 10, 2005
at 10:00 a.m.

AGENDA

(1) Provide an account to the members and creditors of the
liquidation.

(2) To discuss any other matters that arise.

Dated this 10th day of May 2005

Cliff Rocke
Liquidator
PPB
Chartered Accountants
Level 1, 5 Mill Street,
Perth WA 6000


CARMINE CAMERLENGO: Final Meeting Date Fixed June 17
----------------------------------------------------
Notice is hereby given that a Final Meeting of creditors and
members of Carmine Camerlengo Pty Ltd (In Liquidation), will be
held at the offices of O'Keeffe Walton Richwol, on June 17, 2005
at 4:00 p.m. for the purpose of laying before the meeting an
account of the liquidator's costs and dealings and the conduct
of the winding up.

Dated this 26th day of April 2005

O'Keeffe Walton Richwol
Liquidator
Suite 3, 431 Burke Road,
Glen Iris
Telephone: (03) 9822 9823


CLEARFLOW PLUMBING: To Declare Dividend June 24
-----------------------------------------------
A first dividend is to be declared on June 24, 2005 for
Clearflow Plumbing Services Pty Limited (Subject To Deed Of
Company Arrangement).

Creditors of the above Company whose debts or claims have not
already been admitted are required on or before June 10, 2005 to
formally prove their debts or claims. If they do not, they will
be excluded from the benefit of the dividend.

Dated this 27th day of April 2005

Thomas Javorsky
Liquidator
c/- Jones Condon
Chartered Accountants
Telephone: (02) 9251 5222


DMA HOMES: Sets Final Meeting Date June 10
------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Law
that an annual meeting of the members and creditors of DMA Homes
(NSW) Pty Limited will be held on June 10, 2005 as indicated at
CD Darin & Co, Chartered Accountant, Suite 3, Level 4 12-14
Mount Street, North Sydney NSW 2059 at 9:30 a.m., for the
purposes of having an account laid before them showing the
manner in which the winding up has been conducted and the
property of the Company disposed of and hearing any explanations
that may be given by the liquidator.

Dated this 10th day of May 2005


HANDWELL PTY: Members Pass Winding Up Resolution
------------------------------------------------
At a General Meeting of Handwell Pty Limited (In Liquidation),
duly convened and held at Level 15, 1 York Street, Sydney, NSW
2000 on April 23, 2005 the following Special Resolution was
passed:

That the Company be wound up voluntarily in accordance with the
provisions of Section 491(1) of the Corporations Act 2001 and
that the assets may be distributed in whole or part to the
members of the Company in specie should the liquidator so
desire.

Dated this 26th day of April 2005

Bruce Leonard Bailey
Liquidator
Saccasan Bailey Partners
Chartered Accountants
Level 15, 1 York Street,
Sydney NSW 2000


HANELI PTY: Enters Winding Up Proceedings
-----------------------------------------
At a General Meeting of Haneli Pty Ltd (In Liquidation), duly
convened and held at 46 Carro Park Road, Cowra on Thursday,
April 21, 2005 the following Special Resolution passed:

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

Dated this 26th day of April 2005

Paul Patrick Atkins
P.P. Atkins & Co
77 Willarong Road,
Caringbah NSW 2229


HILLS MOTORWAY: Releases M2 Traffic Information
-----------------------------------------------
Hills Motorway Group announced the average daily traffic (ADT)
for May 2005 was 75,733 vehicles being 3.5% higher than May
2004. Traffic revenue for the month was 9.2% higher than May
2004.

Effective from July 1, 2005, M2 traffic information will be
announced on a quarterly basis in accordance with Transurban
policy. The June ADT and revenue will be included as part of the
Transurban quarterly announcement.

To view a copy of the M2 Traffic results achieved since January
2004, click on:
http://bankrupt.com/misc/tcrap_hillsmotorway060205.pdf

CONTACT:

Hills Motorway Group
Off Culloden Road
M2 Toll Plaza Building
North Ryde, New South Wales 2113
Australia
Phone: +61 2 9869 4578
Fax: +61 2 9869 4519
Web site: http://www.hillsmotorway.com.au/


HINMARSH PTY: Names M.F. Cooper Official Liquidator
---------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Hinmarsh Pty Ltd (In Liquidation) duly convened and held at
Frasers Insolvency Advisory, Level 9, 99 Elizabeth Street Sydney
NSW 2000 on Friday, April 22, 2005 at 1:00 p.m. a Special
Resolution that the Company be wound up voluntarily was passed
by members and the undersigned was appointed Liquidator.

The appointment of Liquidator was confirmed by creditors
pursuant to Section 497(1) of the Corporations Act 2001 at a
meeting of creditors held subsequently that day.

Dated this 27th day of April 2005

M. F. Cooper
Liquidator
Frasers Insolvency Advisory
Level 9, 99 Elizabeth Street,
Sydney NSW 2000


JUDALL PTY: Unveils Resolutions Passed at Meeting
-------------------------------------------------
At a General Meeting of Members of Judall Pty Limited (In
Voluntary Liquidation) duly convened and deemed in accordance
with Section 249H(2) of the Corporations Act, 2001 to be held on
April 22, 2005 the resolutions set out below were duly passed:

(1) That the Company be wound up in accordance with the
procedure for a members' voluntary winding up.

(2) That Allan Gregory Davis be appointed Liquidator at a fee to
be arranged, and

(3) That the Liquidator be empowered to distribute the assets in
specie.

Dated this 26th day of April 2005

Allan Gregory Davis
Liquidator


KINGFISH DESIGN: Lays Out Final Meeting Agenda
----------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the Members and Creditors of
Kingfish Design Pty Limited (In Liquidation) will be held at
Parker Advisory, Level 5, 49 Market Street, Sydney NSW 2000 on
Wednesday, June 15, 2005 at 11:00 a.m.

AGENDA

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

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

Dated this 10th day of May 2005

G. J. Parker
Liquidator


LEYANE PTY: To Convene Final Meeting June 14
--------------------------------------------
Notice is hereby given that a Final Meeting of the Members of
Leyane Pty Limited (In Liquidation) be held as follows: 5
Fletcher Avenue, Blakehurst, NSW, 2221, at 10:00 a.m. on June
14, 2005.

BUSINESS

The purpose of this meeting is to consider the following
resolutions:

(1) To receive and adopt the report of the liquidator's acts and
dealings during the conduct of the winding up.

(2) To receive and adopt Australian Securities and Investments
Commission Forms 524 Accounts and Statement by a Liquidator.

(3) To transact any other business which may properly be brought
forward at the meeting.

Dated this 10th day of May 2005

Wayne Harry Price
Liquidator


MCKITTRICK ENTERPRISES: Hires Liquidator to Wind Up Company
-----------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Mckittrick Enterprises Pty Limited, held on May 2, 2005 it
was resolved that the Company be wound up voluntarily and that
W. B. Rangott be appointed Liquidator.

Dated this 2nd day of May 2005

W. B. Rangott
Liquidator
Rangott & Slaven
Unit 12, Level 3 Engineering House,
11 National Circuit,
Barton ACT 2600
Telephone: (02) 6285 1430
Facsimile: (02) 6281 1966


MEDIBANK PRIVATE: Government Revives Sale Plan
----------------------------------------------
The AU$1-billion-plus sale of Medibank Private Limited is
reportedly back on the Government's agenda following its return
to profitability, according to The Australian Financial Review.

As the Coalition prepares to take control of the Senate, federal
Cabinet has been updated on the second phase of a scoping study
for the sale, which was last commissioned in 2002.

In June 2003, it decided not to proceed because Medibank had
made a AU$175 million loss in 2001-02, market conditions were
weak and the necessary legislation was likely to be opposed by
the Senate.

The Medibank report comes as the Government pushes ahead with
the sale of its remaining stake in Telstra, a telecommunications
Company.

CONTACT:

Medibank Private Limited
GPO BOX 9999
(Your Capital City)
Phone: 132 331
Web site: http://www.medibank.com.au/


MILLER'S RETAIL: Revamp Leads to One-off Costs
----------------------------------------------
The new Board of Miller's Retail Limited (MRL) announced that,
while the Strategic Review announced in April 2005 is not yet
complete, it has decided to take a number of preliminary actions
to improve the business outlook for MRL, based on initial
findings.

Key initial findings and actions

The Strategic Review has included an appraisal of inventories at
MRL, which operates more than 1,050 stores, with annual sales in
excess of AU$1 billion. The Review has assessed inventory levels
to be excessive and this has constrained buying practices and
prevented the Company from trading at full potential.

The Board has therefore decided to take immediate action to
rationalize Company inventories, with a program of aggressive
sales and stock markdowns, which includes taking up required
stock provisions of up to AU$25 million. This decision, while
negatively impacting profitability this financial year, releases
working capital for the Company moving forward.

The Strategic Review has also included a continuation of the
store optimization program, which measures individual MRL stores
against a minimum rate of return benchmark. Approximately 80
stores out of the 1,050 in the portfolio have been identified as
operating below minimum profitability requirements, primarily
due to poor locations or operating metrics.

The Board has decided to exit or close these under performing
stores, with one-off restructuring costs of up to AU$30 million
expected for these store closures. While negatively impacting
profitability this financial year, this decision also releases
working capital for the Company moving forward.

Due to the uncertain outlook and continued underperformance of
the Discount Variety division, the Board has decided to write
down the remaining carrying value of the Discount Variety
intangible assets to zero, a reduction of AU$31.1 million. This
write down is non-cash and has no impact on operations.

"These immediate actions, while impacting 2005 profitability as
a result of store closure and inventory provisions, help put MRL
on a solid platform for growth," newly appointed Chairman of
MRL, Mr. Geoff Levy, said.

"These are important steps to ensure MRL can focus on the right
growth imperatives for 2006 and be able to do so with improved
working capital conditions," Mr. Levy said.

"As important initiatives take shape from our continuing
Strategic Review, we will update the market from time to time,"
Mr. Levy said.

As a result of the above, MRL now expects operating earnings
before interest, tax, depreciation, and amortization (EBITDA)
for 2005 to be between AU$48 million and AU$53 million. However,
these 2005 earnings will be adversely impacted by the one-off
provisions of up to AU$55 million to be made in relation to
inventory and store closures as referred to above.

CEO of MRL Mr. Gary Perlstein said, "Whilst these initiatives
leave the Company with negative earnings this financial year,
the Company will have an improved working capital position, will
be in a sound position to pay future dividends and create a
platform for growth".

Media:

Chris Savage
Savage & Horrigan
Mobile: 0404 012 266

Investors

Howard Herman
Chief Financial Officer
Phone: (02) 8337 6504

CONTACT:

Miller's Retail Ltd
151-163 Wyndham Street
Alexandria, New South Wales 2015
Australia
Phone: +61 2 9310 2233
Fax: +61 2 9310 2255
Web site: http://www.millersretail.com.au/


MULTIPLEX: Wembley Hangs Over Olympic Votes
-------------------------------------------
Organizers of the 2012 Olympic Games has assured it will pursue
its bid to host the Olympics despite delays by Multiplex in
completing the new Wembley Stadium in London, according to the
Sydney Morning Herald.

London's bid for the 2012 Olympics is now being evaluated after
Multiplex announced it will not be able to complete the Wembley
project as scheduled for December this year.

While the new Wembley will be long completed by 2012 and able to
host the Olympic football final, the publicity about the
construction delays came at an awkward time for the London bid
team, with the vote on the host city for the 2012 games to be
made next month.

On July 6 the International Olympic Committee will vote upon
rival 2012 bids by London, Paris, Madrid, New York City and
Moscow.

Multiplex earlier revealed the delays will mean it will book an
AU$109-million loss on the project and its shares have dipped
ever since.

CONTACT:

Multiplex Group
Level 4, 1 Kent Street,
SYDNEY, NSW, AUSTRALIA, 2000
Telephone: (02) 9256 5000
Fax: (02) 9256 5001
Web site: http://www.multiplex.com.au/


MULTIPLEX: Mulls Sale of Global Switch
--------------------------------------
Troubled construction giant Multiplex will dispose of its losing
U.K. data company Global Switch, according to Financial Times.

Although the sale will be part of efforts to streamline its
operations, Multiplex insisted there will be no major sell-off
of its U.K. portfolio.

Multiplex Chief Executive Andrew Roberts confirmed the business
was one of the U.K. assets it was planning to sell. Others are
understood to be a GBP100 million shopping center in Barnsley
and a GBP50 million office block in Glasgow. The group is likely
to wait for Global Switch to make its first profit, probably
this year, and sell it soon afterward

Multiplex and its partners, the billionaire Reuben brothers, own
75 percent of the loss-making business, which offers back-up
services known as "Internet hotels" for large companies'
computer systems. Morley Fund Management owns the remainder.

Mr. Roberts stressed the firm will keep its core assets in the
U.K. such as retail properties in Cardiff, Burnley, High Wycombe
and Harlow.


NQ RENTALS: Collapse Leaves AU$11-Mn Debt
-----------------------------------------
The collapse of campervan manufacturer NQ Australia Rentals has
left an AU$11 million trail of creditors and all are expected to
incur significant losses, The Courier Mail relates.

A first creditor's report showed that the firm's major creditor
ANZ Bank is owed AU$7 million. Other secured creditors include
Bank of Queensland (owed AU$1.39 million), Toyota Financial
Services (owed AU$1.37 million) and Westpac Bank (owed
AU$42,000).

The Australian Taxation Office has also made a claim for AU$1.4
million and a large number of unsecured clients have made claims
for campervan hire bonds not being refunded or being taken
without their authority.

Preliminary inquiries by liquidator KPMG Cairns have revealed
employee entitlements are about AU$117,000, excluding AU$21,000
owed to the Company's sole director, Lawrence Neil Chapman.

NQ Rentals' receiver and manager Andrew Fielding of PPB
Chartered Accountants hinted on the possibility the vehicles
would be put to auction, citing difficulty in finding a buyer
for the business.

The first creditors' meeting of NQ Rentals will be held in
Cairns on July 1 from 1pm and creditors have been invited to
contact the liquidator KPMG by e-mail at ajonsson@kpmg.com.au
for further information.

CONTACT:

NQ Australia Rentals Pty Ltd
440 Sheridan Street (PO Box 2075) Cairns,
4870, Queensland
Phone: +617 4053 1875
Fax: +617 4032 2068
Web site: http://www.nqrentals.com.au/


OROTON: Ends Exclusive Talks with Catalyst
------------------------------------------
Oroton Group Limited advised that it has ended exclusive
discussions with Catalyst Investment Managers Pty Limited. As
announced to the market on April 27 and May 2, 2005, these
discussions concerned a potential privatization of Oroton Group.

Oroton Group received a conditional proposal from Catalyst but
after careful deliberation the Non-Interested Directors of
Oroton Group considered that on balance it would not be
acceptable to the majority of the Company's shareholders. The
proposal from Catalyst would be unlikely to achieve the
necessary levels of shareholder acceptance to result in a
successful transaction. The Company will bear its own
transaction costs of approximately AU$1 million.

Chairman of the Non-Interested Directors Mr. Will Vicars stated
"Given the current status of the Company, the privatization as
proposed by Catalyst does not adequately compensate
shareholders. As a result, the Non-Interested Directors agreed
to end discussions; the Board and management are continuing to
focus their attention on the ongoing restructuring of the
business."

Given recent trading performance, Oroton Group is considering
its earnings guidance in relation to FY2005 and will make an
announcement on this matter separately.

CONTACT:

Oroton Group Limited
Registered Office & Head Office
Level 5, 179 Elizabeth Street
Sydney NSW 2000
Sydney Australia
Telephone: (02) 8275 5500
Facsimile: (02) 8275 5555
Web site: http://www.oroton.com.au/


PEGASUS LEVERAGED: Ex-director Pleads Guilty to AU$2.1-Mln Fraud
----------------------------------------------------------------
Mr. Craig John McKim, of Labrador, Queensland, on Friday pleaded
guilty in the Sydney District Court to seven charges under the
Crimes Act 1900, following an investigation by the Australian
Securities and Investments Commission (ASIC).

Mr. McKim, who is a former director of a Sydney financial
services business, Pegasus Leveraged Options Group Pty Ltd
(Pegasus), pleaded guilty to three counts of fraudulently taking
funds totaling $2,117,963 for his own use.

ASIC had alleged that the funds taken by Mr. McKim were
withdrawn from an account that Pegasus held with the National
Australia Bank, which Mr. McKim allegedly deposited into three
gaming accounts.

Mr. McKim also pleaded guilty to four counts of making or using
false documents, or copies of false documents as part of the
promotion of a managed investment scheme, to induce investors in
the scheme to accept the instruments as genuine. The false
documents included letters purporting to be from a
representative of a financial institution.

The offences occurred during the period 25 July 2000 to 1 March
2001.

The matter will return to court on 26 August 2005 for
sentencing.

A number of bail conditions, which were set by the Court on 20
May 2005 will continue. These include that Mr. McKim not
approach points of international departure, reside at his
current residential address, report each Monday to the Officer
in Charge of the Southport Watchhouse, Queensland and enter into
an agreement, without security, to forfeit the sum of $50,000,
if he fails to comply with his bail undertaking.

The Commonwealth Director of Public Prosecutions is prosecuting
the matter.

Background

Pegasus was an unlicensed financial services business, based in
Crows Nest, NSW.

ASIC has previously taken civil action against Mr. McKim and
Pegasus in relation to the management of an unregistered managed
investment scheme, and the offer of securities without a
securities dealers license. On 24 April 2002, ASIC obtained
orders for the winding up of both Pegasus and the scheme.

In addition, the NSW Supreme Court also banned Mr. McKim from
being involved in the management of a Company for 30 years.

Mr. McKim and Pegasus were found to be operating an unregistered
managed investment scheme, to have engaged in misleading or
deceptive conduct and to have made misleading statements in
order to entice investors into the scheme.


REPUBLICORP INTERNATIONAL: Appoints Official Liquidators
--------------------------------------------------------
Notice is given that Anthony Warner and Ivor Worrell, Registered
Liquidators, of Worrells, Level 3, 333 George Street, Sydney NSW
2000, were appointed Liquidators of Republicorp International
Pty Limited at a general meeting of Republicorp International
Pty Limited (In Liquidation) members on April 25, 2005.

Dated this 26th day of April 2005

Anthony Warner
Liquidator
Worrells
Solvency & Forensic Accountants
Web site: http://www.worrells.net.au


SANTOS LIMITED: S&P Says Ratings Unhurt By Accounting Changes
-------------------------------------------------------------
Standard & Poor's Ratings Services said there would be no change
to Santos Ltd.'s 'BBB+/Stable/A-2' ratings and outlook following
the announcement of changes to Santos' financial accounts, with
the Company's recent adoption of Australian International
Financial Reporting Standards (AIFRS).

The adoption of AIFRS by Santos will not affect the Company's
reported cash flows, strategies, operations, or its ability to
meet financial covenants. Therefore, Santos' creditworthiness is
unaffected.

Santos' adoption of AIFRS will have some noncash effects on its
asset values, taxation, and restoration treatment. Another
significant accounting change relates to the adoption of a
"successful-efforts" method, which accounts for exploration and
evaluation expenditure from the "full-cost" method. This will
bring Santos in line with its peers and will not affect cash.

The ratings on Santos reflect its reliable gas cash flows and
increasing asset diversity. Gas revenues make up about 50% of
cash flows, while the more volatile crude oil, condensate, and
LPG revenues form the balance. Offsetting the certainty of the
existing contracted-gas revenues are volatile oil prices, the
competitive pricing of new gas contracts, the relatively poor
historic reserve-replacement record, and significant changes to
the Company's asset-acquisition profile.

Santos' moderate financial profile supports its ratings.

CONTACT:

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


SCOTTCROKE PTY: To Undergo Voluntary Liquidation
------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Scottcroke Pty Limited (In Liquidation) held on
April 29, 2005 it was resolved that the Company be wound up
voluntarily and at a meeting of creditors held on the same day
it was resolved that for such purpose, Ezio Marco Senatore and
Stephen Brennan of Senatore Brennan Rashid, Level 7, 28
University Avenue, Canberra ACT 2601 be appointed as Joint and
Several Liquidators.

Dated this 10th day of May 2005

E. M. Senatore
Liquidator
Senatore Brennan Rashid
Level 7, 28 University Avenue,
Canberra ACT 2601


VOLTRIM PTY: Liquidator to Detail Winding Up Account
----------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Law
that an annual meeting of the members and creditors of Voltrim
Pty Limited will be held on June 10, 2005 as indicated at C D
Darin & Co, Chartered Accountant, Suite 3, Level 4 12-14 Mount
Street, North Sydney NSW 2059 at 10:30 a.m., for the purposes of
having an account laid before them showing the manner in which
the winding up has been conducted and the property of the
Company disposed of and hearing any explanations that may be
given by the liquidator.

Dated this 10th day of May 2005


WATERWORLD INDUSTRIES: Final Meeting Date Set June 10
-----------------------------------------------------
Notice is hereby given that the final meeting of the creditors
and members of Waterworld Industries Pty Limited (In
Liquidation) will be held at the offices of Jones Condon
Chartered Accountants, Level 1, 34 Charles Street, Parramatta
NSW, on June 10, 2005 at 11:00 a.m., for the purpose of laying
before the meeting an account showing how the winding up has
been conducted and the property of the Company has been disposed
and giving any explanation thereof.

Dated this 27th day of April 2005

Schon G. Condon Rfd
Liquidator
c/- Jones Condon
Chartered Accountants
Telephone: (02) 9893 9499


WESTSIDE STEEL: To Hold Final Meeting June 10
---------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Law
that an annual meeting of the members and creditors of Westside
Steel Fixing Pty Limited will be held on June 10, 2005 as
indicated at C D Darin & Co, Chartered Accountant, Suite 3,
Level 4 12-14 Mount Street, North Sydney NSW 2059 at 10:45 a.m.,
for the purposes of having an account laid before them showing
the manner in which the winding up has been conducted and the
property of the Company disposed of and hearing any explanations
that may be given by the liquidator.

Dated this 10th day of May 2005


WMC RESOURCES: Staff Face Cuts as BHP Moves In
----------------------------------------------
The Board of WMC Resources Ltd (WMC) has appointed BHP Billiton
Executive Director Mike Salamon as WMC Chairman following the
retirement of Tommie Bergman.

As well as Mr Bergman, six other WMC directors, including CEO
Andrew Michelmore, have retired from the WMC Board and been
replaced by three new directors, nominated by majority
shareholder BHP Billiton. Mr Michelmore has also resigned from
his role as CEO.

Mr Salamon said that BHP Billiton's Chris Campbell had been
appointed CEO on an interim basis. BHP Billiton's VP Business
Performance Manager, Brendan Rudd, has been appointed interim
CFO.

The WMC directors who have retired are:
Tommie Bergman
Professor Adrienne Clarke AC;
Peter Knight;
Graeme McGregor;
Ian Webber;
Andrew Michelmore; and
Alan Dundas.

David Meikeljohn and John Pizzey will continue to serve on the
WMC board and have been joined by:

BHP Billiton Executive Director Mike Salamon;
BHP Billiton Chief Financial Officer Chris Lynch; and
Interim WMC CEO Chris Campbell.

Retiring Chairman Tommie Bergman said that given BHP Billiton
was now the majority shareholder it was appropriate for its
interests to be represented on the Board. He thanked all WMC's
retiring directors, as well as WMC's senior management, for
their contribution to the Company and for their support and
assistance during the process of BHP Billiton's bid for WMC.

"Andrew and his team have done a great job in ensuring that
WMC's operations continued to perform well during the inevitably
difficult offer period and have given tremendous support in
ensuring a smooth transition for WMC to BHP Billiton control,"
Mr. Bergman said.

Incoming Chairman Mike Salamon said that BHP Billiton would
continue to pursue complete ownership of WMC. The $7.85 cash per
share offer has been extended to 17 June.

"WMC's board believes that full ownership by BHP Billiton is in
the best interest of WMC shareholders and continues to recommend
that shareholders accept BHP Billiton's offer as soon as
possible," he said.

CONTACT:

WMC Resources Limited
Level 16, IBM Centre, 60 City Rd.
Southbank, Vic. 3006
Telephone: +61 (0)3 9685 6000
Facsimile: +61 (0)3 9686 3569
Web site: http://www.wmc.com/


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

BANK OF CHINA: Aims to Sell 10% Shares to Foreign Investors
-----------------------------------------------------------
The Bank of China (BOC) is planning to sell more than 10 percent
of its shares to a number of foreign investors, The Standard
reports, citing BOC President Li Lihui.

The bank is in talks with several strategic investors prior to a
public listing of its shares, which Mr. Li said could happen
late this year or early in 2006. No decision had been taken on
where the shares would be listed.

BOC received a US$22.5 billion (HK$175.5 billion) cash injection
from the state in late 2003 to help bolster its balance sheet
and make it more attractive to foreign investors. A Chinese bank
now can sell a maximum 25 percent to foreign investors.

CONTACT:

Bank of China
1 Fuxingmen Nei Dajie
Beijing, 100818, China
Phone: +86-10-6659-6688
Fax: +86-10-6601-4024
Web site: http://www.bank-of-china.com


BANK OF COMMUNICATIONS: First to Float Shares
---------------------------------------------
The Bank of Communications (BoCom) will be the first to test the
Chinese bank IPOs (initial public offerings) late this month,
China Daily reports.

The bank plans to issue 5.856 billion H shares for a price range
of HK$1.95-2.55 (25 US cents -33 US cents) to raise HK$14.9
billion (US$1.91 billion), which is expected to begin trading on
June 23, Bloomberg yesterday quoted an IPO document of the
Shanghai-based bank as saying.

KGI Asia Associate Director Ben Kwong projected the offering
price will be set at the mid range of HK$2.2 (28 US cents) to
HK$2.3 (29 US cents). BoCom is expected to fix the price on June
18, according to the report.

As a result of the bank's increasing efforts to get rid of bad
assets, BoCom's ratio of non-performing loans reduced to 2.91
percent at the end of 2004.

CONTACT:

Bank of Communications
20 Pedder Street, Central, Hong Kong
E-mail: enquiry@bankcomm.com.hk
Web site: http://www.bankcomm.com.hk


FOK HING: Enters Bankruptcy
---------------------------
Notice is hereby given that a Bankruptcy Order against Li Chun
Ha trading as Fok Hing Construction Company was made on May 23,
2005.

All debts due to the estate should be paid to the official
receiver.

Dated this 3rd day of June 2005.

E T O'Connell
Official Receiver


GROUP TREASURE: Enters Winding Up Process
-----------------------------------------
Group Treasure Holdings Limited with registered office located
at Room 2705, New Trend Centre, 704 Prince Edward Road East, San
Po Kong, Kolon, was issued a winding up notice by the High Court
of the Hong Kong Special Administrative Region Court of First
Instance on May 25, 2005.

Date of Presentation of Petition: March 21, 2005

Dated this 3rd day of June 2005

ET O'Connell
Official Receivers


HOUSING MANAGEMENT: Appoints Joint Liquidators
----------------------------------------------
Mr. Nicholas Timothy Cornforth Hill and Mr. Stephen Briscoe of
RSM Nelson Wheeler Corporate Advisory Services Limited, 7th
Floor, Allied Kajima Building, 138 Gloucester Road, Wanchai,
Hong Kong, have been appointed as the Joint and Several
Liquidators of Housing Management Agency Limited (In Compulsory
Liquidation) by order of the High Court of Hong Kong Special
Administrative Region dated on February 14, 2005.

Dated this 3rd day of June, 2005

Nicholas Timothy Cornforth Hill
Stephen Briscoe
Joint and Several Liquidators

Presented by: RSM Nelson Wheeler Corporate Advisory Services
Limited


INDUSTRIAL AND COMMERCIAL: Ups Mortgage Rates
---------------------------------------------
Industrial and Commercial Bank of China (Asia) Limited (0349)
has raised its mortgage loan interest rates for new home loan
borrowers by a quarter percentage point to between P-2.25
percent and P-2.4 percent with effect from June 7, 2005,
Infocast News reports.

The bank's prime lending interest rate is 6 percent.

CONTACT:

Industrial and Commercial Bank of China (Asia) Limited
ICBC Tower, 3 Garden Road
Central, Hong Kong
Phone: 25343333
Fax: 28051166
Web site: http://www.icbcasia.com


KONG WAH: Proposes New Liquidator Appointment
---------------------------------------------
Notice is hereby given that Mr. Fan Wai Kuen (the Retiring
Liquidators) wishes to resign as a joint and several liquidator
of Kong Wah Holdings Limited.

It is proposed that Mr. Cosimo Borrelli be appointed as the
replacement joint and several liquidator of each of the Company
(the Replacement Liquidators) in his place. The resignation of a
liquidator ordinarily requires the holding of separate meetings
of creditors and contributories to accept the resignation and to
appoint replacement liquidators.

The Retiring Liquidator is of the view that, in the
circumstances, the holding of separate meetings of creditors and
contributories would be inappropriate and incur additional
costs. An application has been made by the Liquidators to the
High Court of Hong Kong to dispense with requirement for holding
the said meetings and the High Court of Hong Kong has made an
Order dated 1 June 2005 that Mr. Fan be removed from his office
as joint and several liquidator of the Companies pursuant to
Section 196(1) of the Companies Ordinance and that Mr. Borrelli
be appointed in his place as joint and several liquidator of the
Companies, with such removal and appointment to take effect 21
days after publication of this advertisement in this newspaper
if no objection is raised by any creditor or contributory in
accordance with the procedure described below.

The Order dated June 1, 2005 may be varied or discharged upon
the application of any creditor or contributory by way of
summons setting out the grounds for the application and
supported by affidavit verifying the said grounds. Any such
application must be made to the Court and served on Johnson
Stokes & Master, solicitors for the Liquidators at the address
below, within 21 days from the date of this advertisement.

Dated the 1st day of June 2005

Johnson Stokes & Master
Solicitors for the Liquidators of the Companies
18th Floor, Prince's Building
10 Chater Road
Central, Hong Kong


NAM FONG: Court Adjourns Winding Up Hearing June 13
---------------------------------------------------
In the hearing on June 6, 2005, the High Court of Hong Kong has
adjourned the hearing of the Petition to 13 June 2005. Investors
should exercise extreme caution when dealing in the shares of
Nam Fong International Holdings Limited (1176).

Trading in the shares of the Company on the Stock Exchange was
suspended from 10:45 a.m. on 7 February 2005 at the request of
the Company to the Stock Exchange pending for the release of the
announcement in relation to the winding-up petition against the
Company by NCB.

Trading in the shares of the Company on the Stock Exchange will
remain suspended pending the demonstration by the Company to the
satisfaction of the Stock Exchange that, among others, the
continuing listing of the shares of the Company is warranted.
Further announcement will be made as and when appropriate.

Reference is made to the announcements dated 17 May 2005 and 30
May 2005 of Nam Fong International Holdings Limited regarding a
winding-up petition (the Petition) by Nanyang Commercial Bank,
Limited (NCB). In the hearing on 6 June 2005, the High Court
adjourned the hearing of the Petition to June 13, 2005 to grant
seven days leave to the Company for negotiating a settlement
proposal with NCB.

The negotiation of settlement is ongoing but the relevant terms
and both parties have not reached conditions. Further
announcement will be made as and when appropriate.

Investors should exercise extreme caution when dealing in the
shares of the Company.

Trading in the shares of the Company on The Stock Exchange of
Hong Kong Limited (the Stock Exchange) was suspended from 10:45
a.m. on February 7, 2005 at the request of the Company to the
Stock Exchange pending for the release of the announcement in
relation to the winding-up petition against the Company by
NCB.

Trading in the shares of the Company on the Stock Exchange will
remain suspended pending the demonstration by the Company to the
satisfaction of the Stock Exchange that, among others, the
continuing listing of the shares of the Company is warranted.
Further announcement will be made as and when appropriate.

By Order of the Board
Tong Shi Jun
Chairman
Hong Kong, 6 June 2005


NEW UNIVERSAL: Court Orders Winding Up
--------------------------------------
New Universal Corporation Limited with registered office located
at Units 1 & 2, G/F, Peninsula Square, 18 Sung On Street, Hung
Hom, Kolon, was issued a winding up notice by the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on May 25, 2005.

Date of Presentation of Petition: March 21, 2005

Dated this 3rd day of June 2005

ET O'Connell
Official Receivers


PEREGRINE CAPITAL: AGM Set for June 28
--------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), an Annual General Meeting
(AGM) of the Members of Peregrine Capital Limited (In Creditors'
Voluntary Liquidation) will be held at 20th Floor, Prince's
Building, 10 Chater Road Central, Hong Kong on June 28, 2005 at
9:30 a.m. and will be followed by an Annual Meeting of the
Creditors of the Company to be held at the same place at 10 a.m.
for the purpose of receiving an account of the liquidator's act
and dealings and of the conduct of the winding up of the Company
during the year ended 29th March 2005.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him. A
proxy need not be a member or creditor of the Company. Forms of
proxies for both meetings must be lodged at 20th Floor, Prince's
Building, 10 Chater Road Central, Hong Kong no later than 4:00
p.m. of the day before the meetings.

Dated this 3rd day of June 2005

David Richard Hague
Joint and Several Liquidator


RICH & EASY: Receives Winding Up Order
--------------------------------------
Rich & Easy Corporation Limited with registered office located
at Room 271-275, Shui Fai Building, Sha Tin, New Territories,
was issued a winding up notice by the High Court of the Hong
Kong Special Administrative Region Court of First Instance on
May 25, 2005.

Date of Presentation of Petition: March 18, 2005

Dated this 3rd day of June 2005

ET O'Connell
Official Receivers


WIDE SUCCESS: Court Releases Winding Up Order
---------------------------------------------
Wide Success Development Limited with registered office located
at Room 703, 7/F, Wah Ying Cheong Central Building, 158-164
Queen's Road Central, Central, Hong Kong, was issued a winding
up notice by the High Court of the Hong Kong Special
Administrative Region Court of First Instance on May 25, 2005.

Date of Presentation of Petition: March 21, 2005

Dated this 3rd day of June 2005

ET O'Connell
Official Receivers


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

BANK PERMATA: Moody's Upgrades Rating to E+
-------------------------------------------
Moody's Investors Service has raised Bank Permata's (Permata)
bank financial strength rating (BFSR) to E+ from E. The revised
rating carries a positive outlook.

The higher BFSR considers Permata's much improved, albeit still
weak financial fundamentals since the 1997 Asian financial
crisis. In particular, the bank's economic solvency has turned
positive and is positioned at the high end of the E rating
range.

Moreover, the ratings agency expects upward pressure on the BFSR
to continue. Moody's believes that Bank Permata faces brighter
prospects under the ownership of its new shareholder and expect
its franchise and financial fundamentals to become significantly
enhanced. Given the reputation of its shareholder consortium,
Standard Chartered Bank (rated A2) and Astra International, any
support -- financial and technical -- should be strong.

In its plans for the bank, the consortium aims to align Permata
with Standard Chartered Bank's standards, especially in risk
management. As for strategy, the consortium will maintain
Permata's focus on the consumer and small and medium enterprise
segments. However, more consumer products will be introduced
into its distribution channel. Other areas that will be
developed include treasury operations, Syariah banking and the
payment network.

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

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

In October 2004, a consortium -- comprising Standard Chartered
Bank and Indonesian car manufacturer Astra International --
acquired 51% of Permata from PT Perusahaan Pengelola Aset (PPA).
As of April 2005, this stake had increased to 63.11%. Standard
Chartered Bank and Astra International each hold equal stakes in
the consortium. PPA still holds 26.17% of Permata.

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

The following rating was raised:

Bank financial strength to E+ from E. The outlook is positive.

The following ratings were unaffected:

Long-term/short-term deposit ratings of B3/Not-Prime. The long-
term rating continues to carry a positive outlook.

CONTACT:

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


PERUSAHAAN LISTRIK: Seeks to Hike Power Rates by 12%
----------------------------------------------------
State-owned power firm PT Perusahaan Listrik Negara (PLN) has
asked the government to approve a planned 12% average increase
in power rates in order to offset higher fuel costs, reports the
Jakarta Post.

According to PLN Finance Director Parno Isworo, the Company is
suffering financially due to its fuel expenses, the prices of
which were increased by 29% by the government (Fuel expenses
account for 60% of PLN's total expenses).

The Company seeks to raise its rates from IDR588 per kilowatt-
hour to IDR659 per kilowatt-hour. The last time the rates were
increased was in 2003, to replace the government's cut of fuel
subsidies.

Mr. Isworo further added that the Company had to increase its
rates if it were expected to reap a profit this year, in order
to turn the Company around, after posting IDR2.02 trillion in
net losses last year.

If the government approves the power rate increase, it would
result in increased revenue of IDR75 billion, which would mean
the Company would enjoy IDR486 billion in net profit for 2006.
With current power rates, the Company stands to earn IDR62
trillion in revenues.

The Company plans to phase out its diesel-powered generators,
and shift to using natural gas, which is cheaper. But this would
also take some time, as gas-fired power plants are more
expensive to build. Operating gas-fired power plants cost lesser
than diesel-powered plants.

The Company also announced that it will continue to rotate
blackouts until June 9, because of reduced power supply.

CONTACT:

PT Perusahaan Listrik Negara (Persero)
Jl. Trunojoyo Blok M-1 No. 135, Kebayoran Baru
Jakarta, 12160, Indonesia
Phone: +62-21-725-1234
Fax:   +62-21-722-1330
Web site: http://www.pln.co.id


TOTAL E&P: Supreme Court Throws Out Bankruptcy Petition
-------------------------------------------------------
The Supreme Court of Indonesia upheld a local court ruling that
rejected a bankruptcy petition on PT Total E&P Indonesie by two
former contractors, AFX News Limited reports.

According to Bisnis Indonesia, the Supreme Court's ruling was
recently issued, and Company lawyer Todung Mulya Lubis said he
has yet to confirm the verdict, as he himself has not been
notified officially of such.

This is the final phase in a bankruptcy suit filed last March by
contractors PT Sanggar Kaltim Jaya and PT Istana Karang Laut,
claiming that the Company failed to settle a IDR68.5 billion
payment for work carried out in a gas field in Tunu, East
Kalimantan. The claim was based on an audit competed by
Indonesia's Financial and Development Supervising Agency (BPKP).
The Central Jakarta Commercial Court ruled in favor of the
Company.

Total E&P Indonesie is a unit of French oil firm Total S.A.,
with investments totaling IDR1143.6 trillion.

CONTACT:

Total E&P Indonesie
Plaza Kuningan Manara Utara
JL. H.R Rasuna Said Kav C.11-14
P.O Box 1010
12940 Jakarta, Indonesia
Phone: + 62 21 523 1999
Fax:   + 62 21 523 1888


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

FUJITSU LIMITED: Opts to Use Emulex LP10000 HBA
-----------------------------------------------
Emulex Corporation (NYSE:ELX), the industry's preeminent source
for a broad range of advanced storage networking infrastructure
solutions, announced on June 6 that Fujitsu Limited has selected
the Emulex LightPulse(r) LP10000 Fibre Channel host bus adapter
(HBA) for use with its recently announced 64-bit mission-
critical open server, called PRIMEQUEST(tm).

Emulex HBAs are now integrated into the PRIMEQUEST servers, and
the existing PRIMEPOWER(tm) family of servers, to provide the
robust and reliable connectivity to Fibre Channel-based storage
area networks (SANs).

"We chose the Emulex LP10000 HBA for seamless, high performance
SAN connectivity, and our enterprise customers will benefit from
the flexibility of Emulex's trusted and solid architecture,"
said Akira Kabemoto, General Manager of Mission Critical IA
Server Division, Fujitsu Limited. "The new Fujitsu PRIMEQUEST
server family, which leverages the inherent flexibility of the
Emulex LightPulse HBA architecture for enhanced management and
feature benefits, delivers the unmatched performance and
reliability that is critical to our data center customers."

The Emulex LightPulse family of HBAs offers highly integrated
connectivity solutions for enterprise-class storage networks.
With a unique firmware-based architecture and operating system
driver compatibility, customers benefit from a simplified
upgrade path, reduced management complexities and a lower total
cost of ownership.

Combining 64-bit Intel(r) Itanium(r)2 processors with qualified
64-bit HBA drivers from Emulex and the standard specifications
of Microsoft Windows and Linux operating systems ensures the
PRIMEQUEST server family delivers an innovative system
architecture for highest availability and business continuity.
PRIMEQUEST servers provide a new operational efficiency for
business critical computing with truly open standards and meets
the demands of customers trying to expand the reach of open
industry standards to include mission critical enterprise
operations.

"The new Fujitsu PRIMEQUEST family of servers is designed for
the world's most complex, mission-critical data centers under
open environments and we are confident the combined solutions
provide our most demanding CIO and enterprise customers with the
leading-edge tools to maximize the efficiency and capacity of
their SANs," said Mike Smith, executive vice president of
worldwide marketing, Emulex Corp. "Coupling the Emulex LP10000
HBAs with the Fujitsu PRIMEQUEST server family validates the
ongoing, long-term success of our strategic relationship."

About Emulex

Emulex Corporation is the industry's preeminent source for a
broad range of advanced storage networking infrastructure
solutions spanning host bus adapters, embedded storage switches,
I/O controllers and SAN Storage Switches. Emulex ranked number
16 in the Deloitte 2004 Technology Fast 50 and most recently
received recognition as one of Forbes 200 Best Small Companies.

The world's leading server and storage providers rely on Emulex
HBAs, embedded storage switching and I/O controller products to
build reliable, scalable and high performance storage solutions.
The Emulex award-winning product families, including its
LightPulse(r) HBAs and InSpeed(tm) embedded storage switching
products, are based on internally developed ASIC, firmware and
software technologies, and offer customers high performance,
scalability, flexibility and reduced total cost of ownership.
Emulex's products have been selected by the world's leading
server and storage providers, including Dell, EMC, Fujitsu Ltd.,
Fujitsu Siemens, Bull, HP, Hitachi Data Systems, IBM, NEC,
Network Appliance, Quantum Corp., StorageTek, Sun Microsystems,
Unisys and Xyratex. In addition, Emulex includes industry
leaders Brocade, Computer Associates, Intel, McDATA, Microsoft
and VERITAS among its strategic partners. Corporate headquarters
are located in Costa Mesa, California. News releases and other
information about Emulex Corporation are available at
http://www.emulex.com

CONTACT:

Emulex Corporation
Robin Austin, Sr. Manager, Public Relations
(714) 885-3462
E-mail: robin.austin@emulex.com

This is a press release.


FUJITSU LIMITED: To Hold "Fujitsu Forum 2005" July 14
-----------------------------------------------------
Fujitsu Limited on June 6 announced that it will be holding a
two-day event, Fujitsu Forum 2005, at the Tokyo International
Forum on July 14 (Thursday) and 15 (Friday).

The theme of this year's Fujitsu Forum is "Ubiquitous
Networking's Next Stage." The event will feature a number of
speeches including an opening speech by Fujitsu President
Hiroaki Kurokawa and seminars from experts both within as well
as outside the Company. Visitors will also be given a look at
the future of ubiquitous networking being created by Fujitsu and
its customers while introducing the Fujitsu technologies and
products that support this vision.

At Fujitsu Forum 2005, Fujitsu will showcase a variety of real-
world products and solutions that support the Company's TRIOLET
strategy for optimized IT, including the mission-critical,
Itanium-based PRIMEQUESTT server line, as well as feature
solutions that address security and other business challenges
facing customers today. There will also be other exhibits
focusing on topics such as universal design and the environment,
where visitors will be introduced to Fujitsu initiatives in
these areas.

Over the past few years there has been steady progress in the
development of technologies that will underpin the world of
ubiquitous networking, and a society in which people and things
are continuously connected is fast becoming a reality.

By introducing actual case studies as well as a number of new
technologies that are currently being commercialized, this
year's Fujitsu Forum will show how IT is opening up new worlds
of tomorrow in the realms of business and society.

Fujitsu Forum 2005 is the largest event hosted solely by Fujitsu
and is designed to highlight the ways in which Fujitsu partners
with its customers in bringing the power of IT to transform
their businesses.

For further details on Fujitsu Forum 2005, please see the
Fujitsu Forum 2005 website at
http://forum.fujitsu.com/tokyo/en/,which was launched on June
6, 2005.

Overview of Fujitsu Forum 2005

1. Dates: July 14 (Thursday) and July 15 (Friday), 2005; 10:00am
to 6:00pm

2. Location: Tokyo International Forum 3-5-1 Marunouchi, Chiyoda
Ward, Tokyo

3. Theme: Ubiquitous Networking's Next Stage

4. Number of visitors expected: 10,000 (free admission)

5. Speeches/Seminars:

Opening Speech/ Keynote Speeches(*1)

Hear what business leaders from various industries, academic
experts, and Fujitsu executives have to say about the
technological changes shaping the future development of
ubiquitous networking, the new era of management, and what
Fujitsu is doing to support these developments.
Solution Seminars(*1)

Learn about the latest Fujitsu products and solutions designed
to specifically address the challenges facing today's business
managers. Using examples drawn from a variety of industries and
fields, we present the ideas and know-how needed at the front
lines of today's businesses, including the deployment of
ubiquitous networking technologies, technologies designed to
reducing total cost of ownership and eliminate downtime for
mission-critical applications, and solutions that address
Japan's new law on personal data protection.

6. Exhibitions:

Ubiquitous Networking's Next Stage

Ubiquitous networking is changing our lifestyles, workplaces,
and society. Explore different realms showcasing an abundance of
cutting-edge technologies and see how the evolution of IT is
opening up new business opportunities.

TRIOLE Corner:

TRIOLE is Fujitsu's answer for optimizing IT for the era of
ubiquitous networking. Learn about the constantly evolving
Fujitsu product line while exploring a variety of hot business
topics, such as data security.

Universal Design Corner/Environment Corner

Learn about Fujitsu's humanistic and environmentally friendly
approach through an exploration of our initiatives in the fields
of universal design and the environment.

Note

*1
Speeches/ Seminars: Not all speeches/seminars are conducted in
English. Please visit the Fujitsu Forum 2005 website for
details.

About Fujitsu

Fujitsu is a leading provider of customer-focused IT and
communications solutions for the global marketplace. Pace-
setting device technologies, highly reliable computing and
communications platforms, and a worldwide corps of systems and
services experts uniquely position Fujitsu to deliver
comprehensive solutions that open up infinite possibilities for
its customers' success. Headquartered in Tokyo, Fujitsu Limited
(TSE: 6702) reported consolidated revenues of 4.7 trillion yen
(US$44.5 billion) for the fiscal year ended March 31, 2005. For
more information, please see: www.fujitsu.com

CONTACT:

Fujitsu Limited
Shiodome City Center
1-5-2 Higashi-Shimbashi
Minato-ku, Tokyo
Japan, 105-7123
Phone: +81 (0) 3-6252-2176
Fax: +81 (0) 3-6252-2783


HITACHI LIMITED: Develops Through-Hole Electrode Technology
-----------------------------------------------------------
Hitachi Limited and Renesas Technology Corp. announced a new-
stacked chip technology that uses a through-hole interconnection
method to enable chips to bond at room temperature.

The new technology eliminates the need for wire bonding and
reduces package thickness by more than 60% for the most advanced
SiP (System in Package) products. The method offers a new
packaging technology option for developing 3D-stacked SiP
products.

With this new packaging technique, LSI chips that are between 30
and 50 æm thick are fashioned with through-hole electrodes
between the top and bottom sides and gold stud bumps. It then
allows the bumps and through-hole electrodes to connect by
applying a compressive force at room temperature.

Details of this new technology will be presented at Electronic
Components and Technology Conference 2005 (ECTC 2005) being held
in Lake Buena Vista, Florida, U.S.A. from May 31, 2005.

Using this technology, the package thickness of a two-layer SiP
is reduced by 60% or more, from the current 1.25 mm to 0.5 mm or
less. It also enables a package thickness of 1 mm or less to be
achieved when stacking 10 LSI chip layers. In addition, chip-to-
chip interconnection is performed at room temperature to
simplify the manufacturing process.

The chip-stacking technology has several advantages over current
stacking methods. Today most SiP products achieve electrical
interconnection between chips using wire bonding, but the need
to provide wire space limits package thickness. Also, since
chip-to-chip connections are made via package substrate wiring,
the number of package substrate layers increases, leading to
higher substrate costs. In addition, the longer wiring required
for connecting stacked chips causes lower performance. The new
technology eliminates these issues for chip-to-chip bonding and
will allow future SiP products to be made smaller and thinner,
while offering higher speed and larger capacity.

Features of the newly developed technology are as follows:

(1) Room temperature chip-to-chip interconnection using
caulking1 technique
For chip-to-chip interconnection, a mechanical caulking
operation is used that makes use of the plasticity of gold stud
bumps. This enables the gold stud bumps and through-holes to be
interconnected electrically at room temperature simply by
applying force. This bonding technique can also be used for
room-temperature connection between a chip and substrate. While
conventional through-hole electrode (interconnection) techniques
using solder or similar metallic bumps require high-temperature
bonding, this new technology simplifies the manufacturing
process by enabling bonding at room temperature.

(2) Through-hole electrode formation on back-side of wafer by
means of a low-temperature process.

Through-hole electrodes are formed on the backside of a wafer as
thin as 30 to 50 æm. As these through-hole electrodes are fixed
to the glass wafer with a removable adhesive, they must be
formed at a temperature lower than the maximum temperature that
the adhesive can withstand. With this new process, the etching
and film forming occurs at a temperature less than half that
previously required (less than 150§C). Furthermore, the
breakdown voltage between the through-holes attains the same
level as inside the LSIs.

Note:  1.  Caulking: Making a firm connection by using
differences in deformation between materials.

CONTACT:

Hitachi, Ltd.
Kantaro Tanii
Public Relations
Corporate Communications Division
Phone: +81-3-5208-9323
Fax: +81-3-4564-2149

This is a Company press release.


MITSUBISHI MOTORS: Tremont Firm Wins U.S. Deal
----------------------------------------------
U.S.-based SC2 Inc. (formerly known as Superior Consolidated
Industries) has been awarded a service contract from Mitsubishi
Motors North America, reports The Journal Star.

SC2, which is a provider of contract services to original
equipment manufacturers, will perform tire and wheel assembly
and sequencing tasks in Normal Illinois for the automaker. The
transition will take place July 1.

SC2 provides contract services, warehousing, metal fabrication
and air-quality solutions. In 2004, SC2 strengthened its
Bloomington-Normal presence through the acquisition of NuAir
Corp., which had performed services for Mitsubishi since the
early 1990s. SC2 is QS-9000 certified and is committed to Six
Sigma methodologies.

"We are excited about the opportunity to further augment our
partnership with Mitsubishi and strengthen our competitive
advantage in the supply chain services market," said SC2
President Kevin McGinty.

CONTACT:

SC2 Inc.
801 SW Jefferson Ave.
Peoria, IL 61605.
U.S.A.

Mitsubishi Motors North America, Inc.
6400 Katella Ave.
Cypress, CA 90630-0064
Phone: 714-372-6000
Fax: 714-373-1020
Web site: http://www.mitsucars.com


* Japan Banking Crisis Over, Says Fitch
---------------------------------------
Fitch Ratings, the international rating agency, says in a report
published on June 7 that Japan's banking crisis is over,
although more regional consolidation is needed in the sector.

In the updated "Japanese Banking System" report, Fitch says that
with growing deregulation in the post 'bubble' period, the
Japanese banking sector has gradually transformed into a modern
financial services industry comparable with other major
developed countries', although the banks are still struggling to
build their own successful business models.

Fitch believes the regional bank sector and other smaller
deposit taking institutions will see substantial strategic
consolidation in what is still a fragmented banking system.
There are about 1,500 small deposit-taking institutions and a
giant government-owned postal saving system. The privatization
of the postal system is underway and could have a substantial
impact on the banking sector, particularly if the post office is
allowed to compete for loan business as well as deposits.

However, the process will take another 12 years, and the
ultimate pace and form of privatization could still change
significantly depending on political debate. Consequently, Fitch
believes that the current banking landscape in Japan is still in
flux and will continue to evolve.

In the report, Fitch notes that the liberalization of Japan's
banking regulations that began in the late 1970s was too slow to
cope with the rapid developments in financial markets. Fitch
believes this contributed to the asset price bubble of the
1980s. The 'main bank' system, where each major corporate
borrower had a very close relationship with a particular bank
often cemented by cross shareholdings, in tandem with the
'convoy system', in which the pace of deregulation was
determined by the slowest i.e. weakest of the 'convoy' of banks,
exacerbated the aftermath of the bubble, by delaying
restructuring in both the corporate and financial sectors. Fitch
believes that this, in turn, delayed economic recovery in the
1990s and ultimately crippled the banking system between 1995
and 2004.

The crisis in the Japanese banking system began to surface in
1995 when credit cooperatives failed and the Bank of Japan
stepped in and extended special loans. Since then, 172 deposit
taking institutions, including banks, have failed. The
government has spent 5% of Japan's GDP to protect senior
creditors from losses arising from bank failures and an
additional 2% of GDP to prevent the banking system from melting
down.

However, with Japan's economic outlook improving, the corporate
sector having gone through a major period of restructuring,
particularly in the weaker sectors such as construction, real
estate and retailing, and the banks having recognized and
provided for or written off a substantial proportion of their
bad loans, the authorities ended the temporary measures to
support depositors as of 1 April 2005. Fitch believes that in
future, this date will be considered the end of Japan's banking
crisis.

Contact: Reiko Toritani, Kentaro Kogi, Brett Hemsley, Tokyo,
Tel: +81 3 3288 2628; David Marshall, Hong Kong, Phone: +852
2263 9911.

Media Relations: Jon Laycock, London, Phone: +44 20 7417 4327.


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

CHOHUNG BANK: Sets Up Program to Help SMEs
------------------------------------------
Chohung Bank has launched a " Go Together Program" to extend
loans to small and medium enterprises (SMEs), reports the Korea
Times.

In the program, commercial banks would roll over loans issued to
SMEs. The program's goal is to help SMEs avoid bankruptcy, by
offering financial support through special contracts, in spite
of loan maturity.

The bank is presently reviewing the companies' business
strategies and looking into the financial reports of its
corporate clients.

Major creditor Shinhan Financial, which has an 80.04% stake in
Chohung Bank, is set to consolidate Chohung Bank and Shinhan
Bank starting September, in order to improve its banking unit.
The merger is expected completed in the first quarter of 2006.

CONTACT:

Chohung Bank
South Korea
Web site: http://www.chohungbank.co.kr/
E-mail:   zpwcho2@chohungbank.co.kr


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

AKTIF LIFESTYLE: Granted Extension to Submit Restructuring Plan
---------------------------------------------------------------
Aktif Lifestyle Corporation Berhad announced that the Securities
Commission, via a letter dated June 1, 2005 (received by the
Company on June 6, 2005) approved the Company's application to
extend up to July 16, 2005 (two months) a comprehensive proposal
to regularize the Company's financial condition.

CONTACT:

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


ANTAH HOLDINGS: Issues Update on Default in Payments
----------------------------------------------------
Antah Holdings Berhad announced that pursuant to Practice Note
1/2001 of the Bursa Malaysia Securities Berhad Listing
Requirements, the Company issued an update on its credit
facilities currently in default, as of May 31, 2005.

For the further details on the current default status report, go
to:

http://bankrupt.com/misc/tcrap_antahholdings060705.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


AYER HITAM: Posts Default Status Update
---------------------------------------
Ayer Hitam Tin Dredging Malaysia Berhad announced that in
relation to Practice Note 1/2001 of the Bursa Malaysia
Securities Berhad Listing Requirements, the Company issued an
update on its default status in payments of its credit
facilities as of May 31, 2005.

As of May 31, 2005, the Company's total default in payments was
worth MYR40,724,426.54, with regards to its syndicated loan and
term loan.

Attached is a table of the Company's current default status:

http://bankrupt.com/misc/tcrap_ayerhitam060705.doc

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Phone: +60 3 2031 9633
Fax:   +60 3 2031 6920


BELL & ORDER: To Re-elect Officers in Upcoming AGM
--------------------------------------------------
Bell & Order Berhad announced that the Company will hold its
21st Annual General Meeting (AGM) on Wednesday, June 29, 2005,
10:00 a.m. at the Stanford Hotel, No. 449 Jalan Tuanku Abdul
Rahman, 50100 Kuala Lumpur, for the following purposes:

1. To receive the Audited Financial Statements for the financial
year ended Dec. 31, 2004, together with the reports of the
Directors and Auditors thereon. (Resolution 1)

2. To re-elect the following Directors who retire by rotation
pursuant to Article 87 of the Company's Articles of Association
and being eligible, offer themselves for re-election:

(a) Dato' Abdul Rahman Bin Mohammed Hashim; (Resolution 2)

(b) Mr James Khong Poh Wah; (Resolution 3)

(c) Mr Gregory Jerome Gerald Fernandes; (Resolution 4) and

(d) Encik Edlin Bin Ghazaly. (Resolution 5)

3. To re-appoint Messrs Leou & Associates as the Company's
Auditors for the ensuing year and to authorize the Board of
Directors to fix their remuneration. (Resolution 6)

AS SPECIAL BUSINESS

4. To consider and if thought fit, to pass the following
resolutions as Ordinary Resolutions:

ORDINARY RESOLUTION NO. 1

Authority to allot shares pursuant to Section 132D of the
Companies Act, 1965

"THAT subject always to the Companies Act, 1965, the Articles of
Association of the Company and the approvals of the relevant
government/regulatory authorities, the Directors be and are
hereby empowered, pursuant to Section 132D of the Companies Act,
1965, to issue shares in the Company from time to time and upon
such terms and conditions and for such purposes as the Directors
may deem fit provided that the aggregate number of shares issued
pursuant to this Resolution in any one financial year does not
exceed 10% of the total issued share capital of the Company for
the time being and THAT the Directors be and are also empowered
to obtain the approval for the listing of and quotation for the
additional shares so issued on the Bursa Malaysia Securities
Berhad and THAT such authority shall continue in force until the
conclusion of the next Annual General Meeting of the Company".

Resolution 7

By Order of the Board

LEONG OI WAH (MAICSA 7023802)
WOO YING PUN (MAICSA 7001280)
Company Secretaries

Notes:

1) A proxy may but does not need to be a member of the Company.
The provision of Section 149(1)(b) shall not apply to the
Company.

2) The instrument appointing a proxy must be deposited at the
Registered Office at Level 5, Menara Milenium, Jalan Damanlela,
Pusat Bandar Damansara, 50490 Kuala Lumpur not less than forty-
eight (48) hours before the time appointed for holding the
meeting or any adjournment thereof.

3) A member shall be entitled to appoint more than one proxy but
not more than two proxies to attend and vote at the same
meeting.

4) A member who is an authorized nominee as defined under the
Central Depositories Act may appoint at least one proxy but not
more than two proxies in respect of each securities account it
holds with ordinary shares standing to the credit of the said
securities account.

5) Where a member appoints more than one proxy, the appointments
shall be invalid unless he specifies the proportions of his
holdings to be represented by each proxy.

6) If the appointer is a corporation, the proxy form must be
executed under its common seal or under the hand of its
attorney.

7) Explanatory Notes on Special Business:

Ordinary Resolution No. 1 (Resolution 7)

The proposed resolution in relation to authority to allot share
pursuant to Section 132D of the Companies Act, 1965, if passed,
will empower the Directors to issue shares up to an aggregate
amount not exceeding 10% of the total issued share capital of
the Company for the time being, for such purposes as the
Directors consider would be in the interests of the Company.
This authority unless revoked or varied at a general meeting
will expire at the next Annual General Meeting of the Company.

CONTACT:

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


JASATERA BERHAD: Bourse to Delist Securities Soon
-------------------------------------------------
Jasatera Berhad announced that after consulting with the
Securities Commission and considering all the facts, Bursa
Malaysia Securities Berhad (Bursa Securities) has decided to de-
list the Companies Securities from the Official List of
securities, as the Company's financial condition does not
warrant continued listing on the Official List.

The Company's securities will be removed from the Official List
of Bursa Securities on Tuesday, June 21, 2005, 9:00 a.m.

With respect to the Company securities that are deposited with
the Bursa Malaysia Depository Sdn Bhd (Bursa Depository), such
securities may continue to remain deposited with the Depository,
notwithstanding the de-listing of the Company's securities from
the Official List.

Alternatively, Company shareholders who intend to hold their
securities in the form of physical certificate can withdraw
these securities from their Central Depository System accounts
with Bursa Depository, at anytime after the Company's securities
of the Company are de-listed from the Official List, by
submitting the application form for withdrawal in accordance
with the procedures prescribed by Bursa Depository.

CONTACT:

Jasatera Berhad
31, Jalan SS 15/4E
47500 Subang Jaya, Selangor
Malaysia
E-mail: info@jtera.po.my
Phone: 603-7332888/7742
Fax:   603-7332607


K.P. KENINGAU: Bourse OKs Extension to Announce Rehab Plan
----------------------------------------------------------
Pursuant to Practice Note 4/2001 of the Bursa Malaysia
Securities Berhad (Bursa Securities) Listing Requirements, K.P.
Keningau Berhad announced that Bursa Securities approved the
Company's application to extend for one month (from May 22, 2005
to June 22, 2005) the release of a requisite announcement on the
Company's plan to regularize its financial condition.

CONTACT:

K.P. Keningau Berhad
Lot 10, The Highway Centre
Jln 51/205 46050 Petaling Jaya,
Selangor, Malaysia
Phone: 03-7784 3922
Fax:   03-7784 1988


NAUTICALINK BERHAD: Notes Advertisement Error
---------------------------------------------
Nauticalink Berhad announced that in relation to the Company's
proposed restructuring scheme entered into with Kosmo Technology
Industrial Berhad (KTIB), among others, there was an error in
the newspaper advertisement of a summary prospectus of the
issuance of Irredeemable Convertible Unsecured Loan Stocks by
KTIB.

The advertisement was published in the News Straits Times on
Monday, June 6, 2005.

KTIB issued a recall statement in the News Straits Times on June
7, 2005, and the advertisement was also recalled. Any other
developments to the Company's proposed restructuring scheme will
be announced in due course.

CONTACT:

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


OCEAN CAPITAL: Securities Up for Delisting
------------------------------------------
Ocean Capital Berhad announced that after consulting with the
Securities Commission and considering all the facts, Bursa
Malaysia Securities Berhad (Bursa Securities) has decided to de-
list the Companies Securities from the Official List of
securities, as the Company's financial condition does not
warrant continued listing on the Official List.

The Company's securities will be removed from the Official List
of Bursa Securities on Tuesday, June 21, 2005, 9:00 a.m.

With respect to the Company securities that are deposited with
the Bursa Malaysia Depository Sdn Bhd (Bursa Depository), such
securities may continue to remain deposited with the Depository,
notwithstanding the de-listing of the Company's securities from
the Official List. Alternatively, Company shareholders who
intend to hold their securities in the form of physical
certificate can withdraw these securities from their Central
Depository System accounts with Bursa Depository, at anytime
after the Company's securities of the Company are de-listed from
the Official List, by submitting the application form for
withdrawal in accordance with the procedures prescribed by Bursa
Depository.

CONTACT:

Ocean Capital Berhad
No. 43B, 2nd Floor Changkat
Bukit Bintang 50200
Kuala Lumpur, Malaysia
Phone: 03-21480700
Fax:   03-21454825


PARK MAY: To Hold AGM June 28
-----------------------------
Park May Berhad announces that the Compayn will be holding its
32nd Annual General Meeting (AGM) on Tuesday, June 28, 2005,
10:30 a.m., at the Banquet Hall, Level 1 of the Kuala Lumpur
International Hotel, Jalan Raja Muda Abd. Aziz, 50738 Kuala
Lumpur.

To view a full copy of the AGM Notice, click on:

http://bankrupt.com/misc/tcrap_parkmay060705.doc

CONTACT:

Park May Berhad
Lot 18115 Batu 5
Jalan Kelang Lama, Kuala Lumpur 58100
Malaysia
Phone: +60 3 7982 7060
Fax:   +60 3 7625 4987


POS MALAYSIA: Set to List New Shares
------------------------------------
Pos Malaysia & Services Holdings Berhad's additional 60,000 new
ordinary shares of MYR1.00 each issued pursuant to the Company's
Employee Share Option Scheme will be granted listing and
quotation effective Thursday, June 9, 2005, 9:00 a.m.

CONTACT:

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


UNITED CHEMICAL: Schedules AGM on June 30
-----------------------------------------
United Chemical Industries announces that the Company will hold
its 41st Annual General Meeting (AGM) on Thursday, June 30,
2005, 12:00 p.m., at the 4th Floor Convention Hall, Wisma Wan
Mohamed, Jalan Panglima Bukit Gantang Wahab, 30000 Ipoh, Perak
Darul Ridzuan, for the following purposes:

1. To receive and adopt the Audited Financial Statements for the
year ended Dec. 31, 2004 and the Reports of the Directors and
Auditors thereon. (Resolution 1)

2. To re-appoint the following Directors being over the age of
70 years retiring in accordance with Section 129(6) of the
Companies Act, 1965 and to hold office until the conclusion of
the next Annual General Meeting:

(i) Tan Sri Dato Sri Abang Ahmad Urai Bin Datu Hakim Abang Haji
Mohideen. (Resolution 2)
(ii) Tan Sri Abdul Aziz Abdul Rahman. (Resolution 3)

3. To re-elect Wong Set Moi retiring in accordance with Article
111 of the Company's Articles of Association. (Resolution 4)

4. To re-appoint Messrs Folks DFK & Co as Auditors of the
Company and to authorise the Directors to fix their
remuneration. (Resolution 5)

5. To transact any other business of which due notice shall have
been given.

BY ORDER OF THE BOARD

YEAP KOK LEONG
(MAICSA NO. 0862549)
Company Secretary

Notes:

1. A member of the Company entitled to attend and vote at the
Meeting is entitled to appoint a proxy to attend and vote in his
stead. A proxy need not be a member of the Company and a member
may appoint any person to be his proxy without limitation and
the provision of Section 149(1) (b) of the Act shall not apply
to the Company.

2. A member shall not be entitled to appoint more than two
proxies to attend and vote at the same meeting. Where a member
appoints two proxies the appointments shall be invalid unless
he/she specifies the proportions of his/her holdings to be
represented by each proxy.

3. The instrument appointing a proxy shall be in writing under
the hand of the appointer or his attorney duly authorized in
writing or if the appointer is a Corporation this form must be
executed under its Common Seal or under the hand of its
attorney.

4. The instrument of a proxy and the power of attorney (if any),
under which it is signed or a notarially certified copy thereof
shall be deposited at the Registered Company Office of the
Company at 6th Floor, Wisma Wan Mohamed, Jalan Panglima Bukit
Gantang Wahab, 30000 Ipoh, Perak Darul Ridzuan, not less than 48
hours before the time for holding the Meeting or any adjourned
meeting at which the person named in the instrument proposes to
vote

5. The particulars of all Directors seeking re-election are set
out on page 4 and 6 of the Annual Report and the attendance of
Directors at board meetings is set out in the Corporate
Governance Statement on page 8 of the Annual Report.

CONTACT:

United Chemical Industries Berhad
10th Floor, Wisma MCA
Jalan Ampang
50450 Kuala Lumpur, WP
Malaysia
Phone: 603-2619055
Fax:   603-2610502


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

ATLAS CONSOLIDATED: Earmarks US$180 Mln for Carmen Mine
-------------------------------------------------------
Atlas Consolidated and Mining Development Corp. increased its
budget for its Carmen copper mine in Cebu to US$180 million from
US$150 million, The Manila Bulletin reveals.

The mining firm is gearing to start operating its Carmen copper
mine, which is estimated to yield around 300,000 to 400,000
metric tons (MT) of iron concentrates that will bring huge added
revenue.

Before its suspension of operations in 1994, the Carmen mine
produced at a peak 110,000 MT per day from open pit and
underground block caving which made it then the largest copper
mine in Asia. It was also among the lowest cost producers of
copper in the world with its full gravity block caving practiced
for many years in the copper mine.

Atlas is also looking to strike a deal with several foreign
investors who are willing to either lend cash or infuse equity
into the Company.

Aside from settling financing for the Carmen project, Atlas is
also in the process of paying off benefits for its labor. The
firm is still resolving matters with its former employees or it
cannot proceed with the rehabilitation of the mine and
reconstruction of its offices.

CONTACT:

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


BELLE CORPORATION: To Build Medical Center for Japan Clients
------------------------------------------------------------
Belle Corporation will take advantage of the emerging medical
tourism industry and build a medical and wellness center at the
Tagaytay Highlands, BusinessWorld reports.

The firm is looking to invite and talk with Japanese investors
on how to proceed with the construction of the center, which
will cater to the needs of Japanese retirees.

The Board of Investments and the Philippine embassy in Tokyo
arranged a meeting last month between Belle officials and
leaders of various Japanese medical and retirement communities.

The Company is keen on developing an international retirement
community, capitalizing on the high cost of retirement and lack
of doctors and nurses in Japan.

But aside from Japanese clients, Belle said it will also be
looking to market the project to Filipinos living in the U.S.

CONTACT:

Belle Corporation
28/F East Tower PSE Centre
Exchange Road Ortigas Centre
Pasig 1600
PHILIPPINES
Phone: +63 2 635 3016-24


BELLE CORPORATION: Still Can't Make Allocations for Expansion
-------------------------------------------------------------
Belle Corporation issued this announcement in reference to the
news article entitled "Belle eyes property-sale proceeds to fund
expansion" published in the June 6, 2005 issue of The Manila
Times.

The article reported that:

"REAL estate developer Belle Corp. plans to spend the proceeds
of a planned eight-hectare property sale for three major
projects in Tagaytay Highlands this year. The Company is
allotting some P1.3 billion in capital spending for these
projects, which include the Sports Barn, Saratoga Hills and
Plantation Hills. To finance its capital spending, the Company
is banking on the proceeds from the sale of a property on the
Coastal Road, according to William Ocier, Belle vice chair.
Belle expects to generate between P2.4 billion and P3.2 billion
from the sale of its eight-hectare reclaimed property along
Roxas Boulevard and Diosdado Macapagal Avenue. The property is
valued between P30,000 and P40,000 per square meter."

Belle Corporation, in its letter to the Philippine Stock
Exchange dated June 6, 2005, stated that:

"We confirm that Belle intends to utilize the funds that it
expects to generate from its sale of its Manila Bay Reclamation
Area property for its development projects within its Tagaytay
and Batangas development areas, as well as for debt reduction.
At this stage, however, Belle does not yet have a purchase
agreement for any prospective buyer, for which reason, Belle is
still unable to make any confirmation as to a definite timetable
within which the funds it foresees it will generate will be
expended. Until such time that Belle has completed selling
efforts with regard to its Manila Bay area property, it will be
unable to come up with a more definite fund disbursement
schedule and firm budgetary allocations."

For your information.

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

Noted by:
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President


CAMP JOHN: Prepares to Fight BCDA in Court
------------------------------------------
Camp John Hay Development Corporation (CJHDevco) said it will
engaged in a legal battle with the Bases Conversion Development
Authority (BCDA) should the government pursue its plan to bring
in a new investor for Camp John Hay, The Philippine Daily
Inquirer says.

In a statement, CJHDevCo said it is ready for a "legal
showdown".

"If BCDA thinks it can ease out CJHDevco just like that, it's
wrong. We have infused Php4 billion in investments in John Hay,
generated jobs and income not only for our employers, but also
for the local tourism industry," the infuriated CJHDevCo
declared.

The present Camp John Hay operator insisted BCDA cannot legally
bring in a new developer since the lease agreement between the
tow parties inked in 1996 and the succeeding memoranda of
agreement are still in effect.

"If the government through BCDA cannot make good on its promise
to the current developer of a 5-percent tax on gross income
earned in lieu of all taxes, what more for tax holidays, rewards
and other benefits for newcomers allegedly superior even to the
Subic Special Economic Zone," the Company said.

In order to attract potential investors, BCDA have reportedly
offered Philippine Economic Zone Authority (Peza) incentives
that are deemed more attractive than current investor perks
under the Subic Bay Metropolitan Authority package.

BCDA claimed a few have shown interest to manage John Hay.

CONTACT:

Camp John Hay Dev. Corp.
Marketing Department
Loakan Road, Baguio City
Philippines 2600
Phone: (6374)442-7902 to 08
Fax:  (6374)442-5782
E-mail: cjhmanor@info.com.ph
Web site: http://www.campjohnhay.com/


LEPANTO CONSOLIDATED: Says Union Protest Under Control
------------------------------------------------------
Lepanto Consolidated Mining Company issued this announcement in
reference to the news article entitled "Lepanto strike paralyzes
operation" published in the June 6, 2005 issue of BusinessWorld.

The article reported that:

"The strike of some 1,700 rank and file employees of Lepanto
Consolidated Mining Corp. has crippled the Company's underground
operations. Lepanto, which produces an average of 2,000 tons of
gold ore per day, is the oldest and biggest gold producer in the
country to date. The strike stemmed from a deadlock in
negotiations between management and union, the Lepanto Employees
Union, last month. Among the items which resulted in the
deadlock in negotiations was the union's demand for a wage
increase."

Lepanto Consolidated Mining Company, in its letter to the
Philippine Stock Exchange dated June 6, 2005, stated that:

"Please be advised that we have reported to you by way of our 2
June 2005 disclosure the matters stated in the subject news
report to wit:

1) That there have been no underground operations because the
workers were being prevented from entering the underground mine;

2) The dispute involves the daily wage increases for 3 years;

3) The DOLE Secretary had assumed jurisdiction over the dispute
and we are working with the DOLE to resolve the problem."

For your information.

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

Noted by:
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Lepanto Consolidated Mining Co.
21st Floor, Lepanto Building
8747 Paseo de Roxas
1226 City of Makati
Telephone No. 815-9447
Fax: 63 (2) 812-0451/63 (2) 810-5583
E-mail: mis@lepantomining.com
Web site: http://www.lepantomining.com


LIFETIME PLANS: Accuses SEC of Partiality
-----------------------------------------
Lifetime Plans Inc. claimed the corporate regulator was
prejudiced in acting on its case, reports The Philippine Daily
Inquirer.

Lifetime Plans spokesperson Samuel Torres said the Securities
and Exchange Commission (SEC) was not able to examine closely
the documents it reportedly submitted to the regulator. Lifetime
claimed the SEC ignored its submissions as constituting full
compliance with SEC requirements.

Mr. Torres said Lifetime Plans, sister firm of ailing Pacific
Plans, was deemed to have completely meet all of SEC's
requirements as early as last month, contrary to SEC's claims.

Lifetime Plans reportedly submitted a special audit reports
prepared and certified by the accounting firm of Punongbayan &
Araullo and certificates of registration of motor vehicles in
the Company's name after the vehicles were transferred as part
of the spin-off.

He said the submission of the audit report on the "collection of
other receivables" and "proof of transfer of ownership of
transportation equipment in the name of the transferee-
corporation" was in line with a Feb. 15 letter of the SEC and an
April 7 order by the SEC's Company registration and monitoring
department.


PACIFIC PLANS: Rehab Petition Hit Pre-Need Industry's Sales
-----------------------------------------------------------
Pacific Plans Incorporated's application for rehabilitation
allegedly caused pre-need industry sales to drop by 24 percent
as of end-April, according to Today News.

Many prospective clients reportedly avoided buying plans
following news Pacific Plans has sought for court protection.

The number of plans sold in April alone decreased by about 25
percent with education plans plunging as much as 60 percent.

The only type of securities that kept afloat were life plans,
sales of which rose about 66 percent year-on-year.


RB PALOMPON: Liquidation Proceedings Near End
---------------------------------------------
Please take notice that on July 22, 2005 at 8:30 a.m. the motion
for Approval of Final Project of Distribution of the Assets and
Termination of the Liquidation Proceedings of the Rural Bank of
Palompon (Leyte), Inc. will be submitted to the Liquidation
Court (RTC 8th Judicial Region, Branch 17, Sp. Proc. No. 0027-
PN) for approval.

PHILIPPINE DEPOSIT INSURANCE CORPORATION
Liquidator


* Senate to Hear Planholders of Ailing Pre-need Firms
-----------------------------------------------------
The Senate Committee on Banks, Financial Institutions and
Currency said it will hold a separate hearing for planholder
complaints regarding troubled pre-need providers College
Assurance Plan Philippines (CAP) and Pacific Plans Inc., reports
The Philippine Star.

The Committee is setting the date of the hearing, which will
serve as a forum for the affected planholders to air their
complaints before senators and officials of the Securities and
Exchange Commission (SEC).

Sen. Edgardo Angara said that the focus of his committee, which
is to craft a strong regulatory framework for the pre-need
sector, "should be the thrust and direction of any inquiry into
the troubled sector".

He believes the SEC will take immediate and necessary actions
after the palnholders of the two pre-need firms are heard.

The Committee is determined to send to the plenary for passage a
draft law that will shield planholders from financially troubled
pre-need companies. One of the solid and foolproof protection
scheme being eyed is reimbursement.

"The draft law that the committee will propose will combine two
notable elements - full protection of planholders and at the
same time setting the environment to make the pre-need sector
stable and viable," Sen Angara said.


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

ALLGREEN PROPERTIES: SGX Lists Additional 33,000 Shares
-------------------------------------------------------
Allgreen Properties Ltd. advised the Singapore Stock Exchange
(SGX) on the issue and allotment of an aggregate of 33,000
ordinary shares of SG$0.50 each in the capital of the Company,
at the subscription price of SG$0.95 each, pursuant to the
exercise of options granted under the Allgreen Share Option
Scheme 2002. These new shares have been listed and quoted on the
Singapore Exchange on May 27, 2005.

The new shares issued will rank pari passu in all respects with
the existing shares of the Company.

Upon the issue of the above shares, the number of issued and
paid-up shares in the capital of the Company is increased to
1,051,852,000 ordinary shares of SG$0.50 each.

By Order of the Board
Ms Isoo Tan
Company Secretary
6 June 2005

CONTACT:

Allgreen Properties Ltd
1 Kim Seng Promenade
237994
Singapore
Telephone: +65 6733 2822/ +65 6738 3800


FUNPOLIS ASIA: Gives Creditors Until June 17 to Prove Claims
------------------------------------------------------------
Funpolis Asia Pte Ltd. formerly of 79 Robinson Road, #24-01 CPF
Building, Singapore 068897 posted a notice of intended dividend
at the Government Gazette, Electronic Edition with the details.

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 221 of 1999

Last Day for Receiving Proofs: 17th June 2005

Name & Address of Liquidator:

The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118
3rd June 2005

Moey Weng Foo
Assistant Official Receiver


HESHE HOLDINGS: Replaces Resigned Secretary
-------------------------------------------
The Board of Directors of Heshe Holdings Limited, Registration
No. 197501110N informed the Singapore Stock Exchange (SGX) that
Mr. Michael Tay Kwang How has resigned as the Secretary of the
Company with effect from June 6, 2005.

Ms Choong Mee Fong and Ms Lathika Devi Amma d/o K R Pillay were
appointed as Secretaries of the Company in place of Mr. Michael
Tay to act jointly and severally in the execution of their
duties with effect from June 6, 2005.

The Board wishes to thank Mr. Michael Tay for his services to
the Company.

In addition, the Company wishes to announce that the registered
address of the Company will be changed to 8 Cross Street, #11-00
PWC Building, Singapore 048424 with effect from June 6, 2005.

The contact number of the Company will be as follows:

Telephone Number: 6372-4300
Fax Number: 6220-4327

CONTACT:

Heshe Holdings Limited
8 Cross Street
#11-00 PWC Building
Singapore 048424
Telephone: 65 63724300
Fax: 65 62204327


HPC ASIA: Faces Winding Up Proceedings
--------------------------------------
A winding up order was made for HPC Asia Pte Ltd. on May 27,
2005.

Name and address of Liquidator:

Mr. Tay Swee Sze
30 Robinson Road
#04-01 Robinson Towers
Singapore 048546

Dated this 1st day of June 2005

Messrs Harry Elias Partnership
Solicitors for the Petitioner
9 Raffles Place
#12-01 Republic Plaza
Singapore 048619
Telephone: 6535 0550
Fax: 6438 0550


HWA HUP: Court to Hear Petition July 1
--------------------------------------
Notice is hereby given that a petition for the winding up of Hwa
Hup Electric Technologies Pte Ltd (formerly known as Hwa Hup
Holdings Pte Ltd) by the High Court was, on May 24, 2005
presented by United Overseas Bank Limited (as Successor-In-Title
of Overseas Union Bank Limited), a creditor.

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

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

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

The Petitioner's address is at 80 Raffles Place, UOB Plaza,
Singapore 048624.

The Petitioner's solicitors are Messrs Shook Lin & Bok of 1
Robinson Road, #18-00 AIA Tower, Singapore 048542.

Messrs Shook Lin & Bok
Solicitors for the Petitioner

Note:

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

The notice must state the name and address of the person, or if
a firm, the name and address of the firm, and must be signed by
the person, firm, or his or their solicitors (if any) and must
be served, or, if posted, must be sent by post in sufficient
time to reach the abovenamed not later than 12 o'clock noon of
June 30, 2005 (the day before the day appointed for the hearing
of the petition).


JENSEN & COMPANY: Proofs of Claim Due June 17
---------------------------------------------
Jensen & Company Pte Ltd. formerly of 230 Orchard Road, #07-232A
Faber House, Singapore 238854 posted a notice of intended
preferential dividend at the Government Gazette, Electronic
Edition with the following details.

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 89 of 2003

Last Day for Receiving Proofs: 17th June 2005

Name & Address of Liquidator:

The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
3rd June 2005

Sunari Bin Kateni
Assistant Official Receiver


MORNINGTON COUNTRY: Court Schedules Hearing July 1
--------------------------------------------------
Notice is hereby given that a petition for the winding up of
Mornington Country Club Pte. Ltd. by the High Court was, on May
13, 2005 presented by Nam Fang Co Pte Ltd. (Reg No. 197501992N)
of 290A Joo Chiat Road, Singapore 427542, a Creditor.

The Petition is to be heard before the Court sitting in
Singapore at 10:00 a.m. on July 1, 2005.

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

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

The Petitioners' address is 290A Joo Chiat Road, Singapore
427542.

The Petitioners' solicitor is Messrs David Ong & Co of 151 Chin
Swee Road, #08-14 Manhattan House, Singapore 169876.

Messrs David Ong & Co
Solicitors for the Petitioners

Note:

Any person who intends to appear at the hearing of the petition
must serve on or send by post to the abovenamed Solicitors,
Messrs David Ong & Co of 151 Chin Swee Road, #08-14 Manhattan
House, Singapore 169876, notice in writing of his intention to
do so.

The notice must state the name and address of the person, or, if
a firm, the name and address of the firm, and must be signed by
the person or firm, or his or their Solicitors (if any) and must
be served, or if posted, must be sent by post in sufficient time
to reach the abovenamed not later than 12.00 noon of the 30th
day of June 2005 (the day before the day appointed for the
hearing of the Petition).


SEATOWN CORPORATION: Books SG$654,000 in Losses
-----------------------------------------------
Seatown Corp. Ltd. furnished the Singapore STock Exchange (SGX)
a copy of its half-year financial statement and dividend
announcement.

The Company posted a loss for the period ended March 31, 2005 of
SG$654,000.

Turnover of the Group declined from SG$3,138,000 to SG$2,967,000
for the period ended March 31, 2005.  The decrease in Group's
turnover was mainly due to the cessation in the building
construction activities.

The Group's operating loss (after taxation before minority
interest) has decreased to a loss of SG$1,311,000 from a loss of
SG$1,355,000 in the previous financial period.  The loss in the
current period was mainly attributed by the losses in the
following:

(a) Manufacturing of precast concrete activity of SG$790,000;

(b) Professional fees incurred to implement the conditional
Investment Agreement with King Premier Holdings Limited of
SG$480,000; and

(c) Provision for interest for corporate guarantees issued for
facilities given to subsidiaries crystallized of SG$253,000.

The above losses were partly offset by allowance for doubtful
debts written back of SG$303,000 and interest on borrowings
waived by a bank of SG$222,000.

To view a full copy of the financial statement, click
http://bankrupt.com/misc/SeatownCorpHalfYearFinResult.pdf

CONTACT:

Seatown Corporation Limited (In Judicial Management)
(formerly: Pacific Can Investment Holdings Limited)
20 Maxwell Road #02-01
Maxwell House
Singapore 069113
Telephone: 65 62211777
Fax: 65 62235202/65 67887788


WANT WANT HOLDINGS: Details Resignation, Appointment of Director
----------------------------------------------------------------
The Directors of Want Want Holdings Ltd unveiled the following
to the Singapore Stock Exchange (SGX):

(i) The appointment of Mr. Tsai Shao Chung as Director of the
Company with effect from June 6, 2005. The particulars of Mr.
Tsai Shao Chung, pursuant to the requirements of Rule 704(7) of
the Listing Manual of the Singapore Exchange Securities Trading
Limited (SGX-ST), will be furnished in separate announcements.

(ii) The resignation of Ms Peng Yu Man as Director of the
Company with effect from June 6, 2005.

CONTACT:

Want Want Holdings Ltd
400 Orchard Road #17-05
Orchard Towers
Singapore 238875
Telephone: 65 62251588
Fax: 65 62211588
Web site: http://www.want-want.com


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

WYNCOAST INDUSTRIAL: Notifies SET on 28th Warrant Exercise
----------------------------------------------------------
Wyncoast Industrial Public Company Limited issued to the Stock
Exchange of Thailand (SET) the details of the exercise of
warrants on June 30, 2005.

(1) Exercise date:

The exercise dates of the Warrants are the normal working hours
of the Company's share registrar during 8:30 a.m. to 3:30 p.m.
on March 30, June, September and December of each year.

The first exercise date was on September 30, 1998 and the last
exercise date shall be on June 30, 2008. If any exercise date
falls on the holiday of the Company's share registrar, such
exercise date shall be the succeeding working day. The 28th
exercise date is scheduled June 30, 2005.

(2) Date to notify the intention to exercise:

At any time during 8:30 a.m. to 3:30 p.m. of June 16, 2005 -
June 29, 2005.

(3) Exercise ratio: 1 warrant has a right to subscribe 1.074
ordinary shares.

(4) Exercise price: Baht 1 per share.

(5) Documents to be submitted:

(i) Exercise notice which has been accurately and completely
filled in.

(ii) Warrant certificates or temporary warrant certificates in
the form prescribed by the Stock Exchange of Thailand with the
amount specified in the exercise notice.

(iii) Cheque, draft, bill of exchange or payment order from
banks which can be cashed in Bangkok Metropolitan when called
within 2 days and shall be made payable to

"Wyncoast Industrial Park Public Company Limited". The date on
such payment shall not exceed the date of each exercise date.

(iv) Certified copy of identification card for individual
holders or copy of corporate certification from Department of
Commerce for corporate holders.

(6) Contact place:

Wyncoast Industrial Park Plc. 105 Moo 3, Bangna-Trad Road, KM.
52 Thakham, Bangpakong, Chachoengsao 24130, Telephone Number
(038) 573-161 ext. 1125 Fax Number (038) 573-218.

The Company shall not close the register book to stop the
transfer of the Warrants except for the last exercise that the
register book shall be closed 21 days prior to the last exercise
date.

Sincerely yours,

Pathrlap Davivongsa
Chief Executive Officer

CONTACT:

Wyncoast Industrial Park Public Company Limited
105 Moo 3,Bangna-Trat Road,
Thakham,Bang Pakong Chacherngsao
Telephone: 0-3857-3161-72
Fax: 0-3857-3173-4






                            *********


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 S. Bacatan,
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Copyright 2005.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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