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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

             Tuesday, July 5, 2005, Vol. 8, No. 131

                            Headlines


A U S T R A L I A

ADSTEAM MARINE: Gov't Provides AU$3 Mln to Enable Salvage Biz
AINSWORTH GAME: Sees Hefty Losses for 2005 Financial Year
AYJON PTY: Members Resolve to Wind Up Operations
BULL FERRANTI: To Initiate Wind Up Proceedings
CHARLES MOORE: Liquidator to Detail Wind-up Process

COSTOSO PTY: Final Meeting Scheduled for July 14
DYNAELECTRIC PTY: Names David Scott Official Liquidator
EDCOM REAL: Former Liquidator Sentenced for Fraud
EXEIGE PTY: Supreme Court Orders Liquidation
FAYDEN PTY: Members to Hear Liquidator's Report

FERCOL PROPERTIES: Placed Under Voluntary Liquidation
HATS ENTERPRISES: Appoints Official Receiver
HENRY WALKER: Ready to Leave Fraser's Decline Project
ION LIMITED: Creditors' Proofs of Debt Due July 15
LEN BLACK: Inability to Pay Debts Prompts Liquidation

MASRI PAINTING: Creditors, Members to Meet July 12
MILLER'S RETAIL: Cancels Lapsed Options
MT&EF WAITE: Set to Declare Dividend Today
MULTIPLEX: Updates Profit Guidance for FY05, FY06
MULTIPLEX: Vows to Deliver Wembley on Time

NEEDHAM AVIATION: Prepares to Pay Final Dividend
R&F MANAGEMENT: Liquidator to Lay Winding Up Report
SCANFIRE EXPLORATION: Creditors Asked to Submit Debt Claims
SOUTHERN CONSTRUCTION: To Declare Dividend July 12
UTEC (SA) PTY: Begins Winding Up Proceedings

WAVERLEY WOOLLEN: Creditors Move to Rescue Blanket, Rug Maker
WOOD'S CONTRACTING: Members Unanimously Opt to Wind Up
WORK A WALLY: Appoints Liquidator
ZINNANDA PTY: Creditors' Proofs of Debts Due July 7


C H I N A  &  H O N G  K O N G

ACTIONACE.COM LIMITED: Issues Debt Claim Notice
AKAI COMPANY: Receives Winding Up Order
BANK OF COMMUNICATIONS: Posts Notice of Address Change
BECKON B: High Court Issues Winding Up Order
CITYDATA INVESTMENTS: Placed Under Liquidation

KONG WAH: Appoints Joint Liquidator
NEUSKY MEDIA: Court Releases Winding Up Notice
NEW CHINESE: FY/2005 Net Loss Narrows to HK$3.42 Mln
PO WING: Wind-up Hearing Set August 3
QUORUM ASSOCIATES: Winding Up Hearing Fixed July 20

SATELLITE DEVICES: Incurs FY/2005 HK$17-Mln Net Loss
SATELLITE DEVICES: AGM Set for July 25
SELBO INDUSTRIES: Liquidation Process Initiated
SILKMATE INDUSTRIES: Enters Winding Up Proceedings
SPECIAL YEAR: Court to Hear Wind-up Petition July 6

WEALTHMARK INTERNATIONAL: Two Directors Quit Posts


I N D O N E S I A

ABDI BANGSA: Buys More Firms Despite Losses
ASIA PULP: Two Units Return to Black After Debt Restructure
PERTAMINA: Board of Directors Stays On
PERTAMINA: Fuel Shortage Delays Maintenance Shutdown of Refinery
TELEKOMUNIKASI INDONESIA: Seeks to Extend Submission of Report


J A P A N

DAIEI INCORPORATED: Eyeing JPY20-Bln Property Sale
JAPAN AIRLINES: Confirms Order for Six 767-300ERs
JAPAN AIRLINES: Postpones Domestic Late Night Cargo Flights
MATSUSHITA ELECTRIC: Trims 1,000 Jobs in Semiconductor Division
MITSUBISHI MOTORS: Relocates Head Office

MITSUBISHI MOTORS: Recalls 200,000 Libero Station Wagons
MITSUBISHI MOTORS: Reports June U.S. Sales


K O R E A

ASIANA AIRLINES: Normal Ops to Push Through Amid Planned Strike
DAEWOO SHIPBUILDING: Wins US$350-Mln Contract to Build LNG-RV


M A L A Y S I A

ANCOM BERHAD: Buys Back 57,200 Shares
CRIMSON LAND: Allots, Issues RCSLS to MBSB
GULA PERAK: Bourse to List 25,000 Additional Shares
HONG LEONG: Unloads Interest in HLI Holdings
HONG LEONG: Repurchases 730,000 Ordinary Shares

KIG GLASS: Directors Opt for Retirement
K.P. KENINGAU: White Knight Backs Out
MALAYSIAN PLANTATIONS: Units Wind Up Voluntarily
MMC CORPORATION: Aviation Unit Faces Dissolution
MYCOM BERHAD: Seeks Extension to Complete Restructuring Exercise

OLYMPIA INDUSTRIES: U.K. Unit Dissolved
PAN MALAYSIA: Buys Back 250,000 Ordinary Shares
PANGLOBAL BERHAD: Carries Out AGM Resolutions
PANTAI HOLDINGS: Unit Inks MOA with Hyperbaric
PICA (M) CORPORATION: SC Rejects Revised Proposal Petition

SAAG CONSOLIDATED: Passes Resolutions Tabled at AGM, EGM
UNITED CHEMICAL: Reappoints Directors
WEMBLEY INDUSTRIES: Passes All Resolutions Set Out in Notice


P H I L I P P I N E S

COLLEGE ASSURANCE: SEC Poised to Take Over Management
LEPANTO CONSOLIDATED: Gov't Urges Miners to Return to Work
MAYNILAD WATER: Japanese Firm to Asses Facilities
MAYNILAD WATER: Clients Seek Rehab Halt
METRO PACIFIC: Postpones AGM to August 12

NATIONAL BANK: Denies Providing Info About Joint Sale Terms
NATIONAL POWER: Ayala Group Keen on Assets
PACIFIC PLANS: Absorbs Affiliate Pending Rehab Program
PICOP RESOURCES: Earmarks Php500 Mln in Capital Outlay
* 10 Pre-need Firms on SEC Watch List


S I N G A P O R E

BOUSTEAD SINGAPORE: Investment in Indonesian Water Firm Approved
HOTEL PROPERTIES: Founder, Chairman Dies at 82
INFORMATICS HOLDINGS: Malaysian Unit Sells Off Subsidiary
JAYA HOLDINGS: Dissolves Three Subsidiaries
LEGATO SOFTWARE: Creditors Asked to Submit Debt Claims

RICHCOM TECHNOLOGY: Creditor Seeks Winding Up in Court
S-128 IMPORT: Intends to Pay Preferential Dividend
SUMMIT MERCHANTS: To Convene Final Meeting July 31
SWISSCO PTE: Issues Intended Dividend Notice


T H A I L A N D

ADVANCE PAINT: Unveils Result of Warrant Exercise
EASTERN WIRE: CFO Steps Down
JASMINE INTERNATIONAL: Hikes Paid-Up Capital to THB8,319,877,163
NFC FERTILIZER: To Recruit New Chief Operation Officer
PAE THAILAND: Changes EGM Venue

THAI PETROCHEMICAL: CITIC Cleared to Conduct Due Diligence
BOND PRICING: For the Week 04 July to 08 July 2005

     -  -  -  -  -  -  -  -

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

ADSTEAM MARINE: Gov't Provides AU$3 Mln to Enable Salvage Biz
-------------------------------------------------------------
Adsteam Marine announced that following a competitive lender,
the Australian Government has granted United Salvage, a
subsidiary of Adsteam Marine, up to AU$3 million, to continue to
maintain its salvage and emergency towage capability in
Australian coastal waters for up to a nine-month period.

This new funding agreement takes effect from July 1, 2005. This
funding package is to enable Adsteam Marine to maintain its
salvage and emergency towage capability until a longer term and
financially sustainable arrangement can be put in place.

Adsteam will continue to work closely with the Australian
Government to develop a longer term solution to ensure national
salvage and emergency towage capability.

This funding arrangement provides partial support for the costs
of Adsteam continuing its maintenance of salvage and emergency
towage capability and reduces the volatility in earnings from
its salvage business.

CONTRACT:

Adsteam Marine- Corporate Office
Adsteam Harbour
United Salvage (Australia and the Pacific)
Level 22, Plaza 2
500 Oxford Street
Bondi Junction NSW 2022
Australia
Phone: +61 2 9369 9200
Fax: +61 2 9369 9266
E-mail: info@adsteam.com.au
Web site: http://www.adsteam.com.au/


AINSWORTH GAME: Sees Hefty Losses for 2005 Financial Year
---------------------------------------------------------
Ainsworth Game technology Limited (AGT) on June 30 announced
that it expects to report an after tax loss of approximately
AU$11 million for the financial year ended June 30, 2005.
Revenue for the period represented an increase of approximately
31% compared to the corresponding period in 2004.

Commenting on the anticipated results, the Company's major
shareholder and Executive Chairman, Mr. Len Ainsworth, said that
a number of factors had contributed to the revised outlook,
including a lower than expected sales volume to customers in
Europe, South Africa and Australia. In addition, a substantial
increase of AU$3.5 million in overhead costs was incurred during
the second half of the financial year, as the Company prepares
to meet continuing growth opportunities. Principal areas of cost
increases were R&D expenditure, costs associated with applying
for licenses in new markets, and increased staff costs
associated with rapid expansion in overseas markets.

Further, Mr. Ainsworth said a number of one-off expenses,
totaling approximately AU45 million, are included in the
expected loss. These one-off expenses include costs incurred in
the discontinued merger with the Unicum Group, restructuring
costs incurred in Europe and the U.K. and costs associated with
a number of legal matters.

The Board of AGT announced that it would pursue a restructuring
and cost rationalization program to return the Company to
profitability and position the Company to take advantage of
current and new opportunities in emerging markets in the 2006
financial year.

Mr. Ainsworth said "AGT'c Chief Executive Officer, Mr. David
Creary, appointed in February 2005, has traveled extensively in
recent months, undertaking a thorough review of operations
around the world and meeting with AGT's customers and suppliers.
Arising from this review, Mr. Creary has made a number of
rationalization and restructuring recommendations which have
been accepted by the Board".

Mr. Creary said "The restructuring program will ensure costs of
production and overheads are reduced with a new focus given to
product strategy and the need to deliver quality products into
areas offering the greatest prospects for growth, including the
Americas, Russia, Macau and Australia. The cost reduction
program is expected to directly impact the bottom line in the
2006 financial year".

Mr. Creary and Mr. Ainsworth recently returned from the Asian
Gaming Expo in Macau, where the Company's products were on
display to representatives of many of the new casinos now under
development there. Mr. Creary said that Macau was now the
world's most exciting new gaming market, where revenue last year
in that market grew 44% to US$5 billon.

In addition, Mr. Creary expects the Americas to continue to
provide significant new growth opportunities with AGT expecting
to gain additional licenses in the United States over the next
twelve months.

Mr. Creary, following meetings with representatives of the
Unuicum Group, its distributor in Russia, said that the Company
has received initial new orders from Unicum, which should be
delivered in the first quarter of the 2006 financial year.

"AGT is a Company with good products and outstanding growth
prospects both domestically and internationally," Mr. Creary
said.

"However, there is further work to be done in restoring
profitability through the next year, but I have every confidence
in the ability of AGT to build on its existing base and position
the Company well for future growth."

Mr. Ainsworth added that the Board is fully confident that the
new CEO has both the leadership strengths and ability to
reorganize the business on a sound commercial basis and return
the Company to profitability in the short to medium term.

The Board has agreed with Mr. Ainsworth that he will continue as
the executive Chairman of the Company, providing both financial
support and his vast experience and know-how in gaming to the
Company. The Chairman has also indicated that as the Company
delivers on its profit improvement plans, a succession process
for the Executive Chairman would be developed.

In response to the expected trading loss, the AGT Board has also
announced an intention to enhance the Company's capital
structure to provide it with flexibility to pursue its
continuing growth plans. It is proposed that the Company raise
approximately AU$12 million under a rights issue with Mr.
Ainsworth undertaking to underwrite the entire AU$12 million
issue as an indication of his confidence in the Company. The
issue will provide all Shareholders with the opportunity to
participate. The net proceeds from the issue would be used to
reduce the Company's current indebtedness under the existing
loan facilities provided by Mr. Ainsworth.

Further information will be provided to AGT's shareholders once
terms of the proposed rights issue have been finalized.

CONTACT:

Ainsworth Game Technology Limited
10 Hoker Street
Newington, New South Wales 2127
Australia
Phone: +61 9 7398 000
Fax: +61 9 7379 483
E-mail: sales@a-g-t.com.au
Web site: http://www.ainsowrth.com.au


AYJON PTY: Members Resolve to Wind Up Operations
------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Ayjon Pty Limited held on May 24, 2005, it was
resolved that the Company be wound up voluntarily.

At a meeting of creditors held on the same day, it was resolved
that James Patrick Downey of Cole Downey & Co, Chartered
Accountants, Level 1, 22 William Street, Melbourne Vic 3000 be
appointed Liquidator for such purpose.

Dated this 25th day of May 2005

J. P. Downey
Liquidator
Cole Downey & Co
Chartered Accountants
Level 1, 22 William Street
Melbourne Vic 3000


BULL FERRANTI: To Initiate Wind Up Proceedings
----------------------------------------------
At a General Meeting of Bull Ferranti & Collier Pty Limited duly
convened and held at 16 Wahroonga Avenue, Wahroonga, NSW 2076 on
May 18, 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 23rd day of May 2005

Peter Charles Mattock
Liquidator
Saccasan Bailey Partners
Chartered Accountants
Level 15, 1 York Street
Sydney NSW


CHARLES MOORE: Liquidator to Detail Wind-up Process
---------------------------------------------------
Notice is given that a final meeting of members of Charles Moore
(Australia) Limited will be held on July 12, 2005, 10:00 a.m. at
Level 9, 10 Shelley Street, Sydney NSW.

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

Dated this 25th day of May 2005

M. C. Smith
Liquidator
McGrathNicol+Partners
Level 9, 10 Shelley Street
Sydney NSW 2000.
Phone: (02) 9338 2666,
Web site: www.mcgrathnicol.com.au


COSTOSO PTY: Final Meeting Scheduled for July 14
------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Costoso Pty Ltd will be held at the offices of RSM Bird Cameron
Partners, Level 1, 103-105 Northbourne Avenue, Turner ACT 2612,
on Thursday, July 14, 2005 at 9:30 a.m., for the purpose of
laying before the meetings the liquidator's final accounts and
reports and give an explanation thereof.

Dated this 27th day of May 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue
Turner ACT 2612


DYNAELECTRIC PTY: Names David Scott Official Liquidator
-------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Dynaelectric Pty Ltd held on 17 May 2005, it was resolved
that the Company be wound up voluntarily and that David Henry
Scott, Chartered Accountant of Jones Condon, Chartered
Accountants, 77 Station Street, Malvern Vic 3144 be nominated to
act as Liquidator for the purpose of the winding up.

Dated this 19th day of May 2005
D. H. Scott
Jones Condon
Chartered Accountants
77 Station Street
Malvern Vic 3144


EDCOM REAL: Former Liquidator Sentenced for Fraud
-------------------------------------------------
Mr. John Henderson Jackson, a former Adelaide-based liquidator,
was on Friday sentenced in the District Court in Adelaide on
charges arising from an investigation by the Australian
Securities and Investments Commission (ASIC) into his conduct as
a receiver and manager of Edcom Real Estate Pty Ltd (Edcom).

Mr. Jackson was sentenced to 3 years jail, wholly suspended upon
entering into a recognizance in the amount of $2000 to be of
good behavior for a period of 2 years commencing on 1 July 2005.

On five occasions between December 1999 and April 2000, Mr.
Jackson fraudulently converted money belonging to Edcom totaling
$26,190 by transferring it to his personal bank accounts and
then using this money for his own benefit.

"Liquidators have important responsibilities towards employees
and creditors and must conduct the administration of companies
under their control with utmost good faith. ASIC will not
hesitate to pursue those who misuse their positions of trust for
their own benefit," ASIC's Deputy Executive Director of
Enforcement, Mr. Allen Turton said.

"This concludes ASIC's actions against Mr Jackson who resigned
his positions as both an official and registered liquidator on
15 January 2001 after ASIC commenced its investigation," Mr.
Turton added.

The charges were prosecuted by the Commonwealth Director of
Public Prosecutions.


EXEIGE PTY: Supreme Court Orders Liquidation
--------------------------------------------
On May 24, 2005, the Supreme Court of New South Wales, Equity
Division, made an Order that Christopher J. Palmer be appointed
Official Liquidator of Exeige Pty Limited.

Dated this 7th day of June 2005

Christopher J. Palmer
Official Liquidator
O'Brien Palmer
Level 4, 23-25 Hunter Street
Sydney NSW 2000


FAYDEN PTY: Members to Hear Liquidator's Report
-----------------------------------------------
Notice is given that a final meeting of the members of Fayden
Pty Limited will be held at Level 1, 161 Collins Street,
Melbourne, Victoria 3000, on July 11, 2005, 10:00 a.m.

The purpose of the meeting is to receive the Liquidators'
account showing how the winding up has been conducted, and to
receive any explanation of the account.

Dated this 23rd day of May 2005

Robyn McKern
Liquidator
McGrathNicol+Partners
Level 1, 161 Collins Street
Melbourne Vic 3000
Phone: (03) 9038 3164
Web site: www.mcgrathnicol.com.au


FERCOL PROPERTIES: Placed Under Voluntary Liquidation
-----------------------------------------------------
At a General Meeting of Fercol Properties Pty Limited duly
convened and held at 16 Wahroonga Avenue, Wahroonga, NSW
2076 on May 18, 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 23rd day of May 2005

Peter Charles Mattock
Liquidator
Saccasan Bailey Partners
Chartered Accountants
Level 15, 1 York Street
Sydney NSW


HATS ENTERPRISES: Appoints Official Receiver
--------------------------------------------
Notice is hereby given that on May 13,2005, John Frederick
Lord of Level 10, 1 Margaret Street, Sydney, NSW 2000 was
appointed Receiver of certain property of Hats Enterprises
Pty Ltd, being the real property and improvements located at Lot
3 in Strata Plan 39420 and known as Unit 3, 3 Kaleski Avenue,
Moorebank in the State of New South Wales.

J. F. Lord
Receiver
Level 10, 1 Margaret Street
Sydney, NSW 2000


HENRY WALKER: Ready to Leave Fraser's Decline Project
-----------------------------------------------------
New Zealand goldminer OceanaGold and McGrathNicol+Partners,
Administrators of Australian mining contractor Henry Walker
Eltin Group, have on Friday announced the completion of
arrangements for HWE's exit from the Fraser's Decline project of
OceanaGold's Macraes gold field, following the appointment of
Administrators to HWE in February of this year.

Those arrangements include the purchase of HWE's equipment and
materials, to be used when the underground project resumes with
a replacement contractor, and the settlement of all outstanding
claims between the two companies.

OceanaGold's Chief Operating Officer, Albert Brantley, said the
settlement is a favorable outcome of contingency plans put in
place by OceanaGold when the contractor announced efforts to
recapitalize in difficult circumstances late last year.
OceanaGold has used the time since tunneling stopped in early
February to optimize decline design and to continue a programme
of drilling in the area. The recent drilling indicates the
estimated resource for the Fraser's Underground Mine Development
exceeds original expectations.

Mr. Kerryn Downey, Managing Partner of McGrathNicol+Partners in
Auckland said that he was pleased that the parties were able to
agree on a solution which addresses all the issues for both
parties without the cost and delays associated with legal
proceedings.

Mr. Downey also said that the Administrators in Australia are
well advanced in their plans to restructure and recapitalize the
HWE business in Australia and New Zealand. Macquarie Bank has
been retained to advise on this process. In New Zealand, HWE
continues to operate the Rotowaro Coal mine in Huntly. The
development of an underground mine in Waii and an earthworks
project in Meremere.

CONTACT:

Henry Walker Eltin Group Limited
33 Paul Street North
North Ryde, New South Wales 2113
Australia
Phone: +61 02 9887 6400
Fax: +61 02 9805 0945
Web site: http://www.hwe.com.au/


ION LIMITED: Creditors' Proofs of Debt Due July 15
--------------------------------------------------
Take notice that the creditors of ION limited, whose debts or
claims have not already been submitted are required on or before
July 15, 2005 to prove their debts or claims and to establish
any title they may have to prioritize by delivering or posting
to the undersigned at his address below as a formal proof of
debt or claim in accordance with Form 535 containing their
respective debts or claims.

If they do not, they will be excluded from:

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

(b) Objecting to the distribution.

Form of proof may be obtained from the undersigned by phoning
the number below or downloading the relevant from the Internet
site at http://www.mcgtahnicol.com.au.

C M Nicol
Deed Administrator
McGrathNicol+partners
Level 1, 161 Collins Street
Melbourne VIC 3000
Phone: (03) 9038 3133
Web site: http://www.mcgrathnicol.com.au

CONTACT:

ION Limited
Level 1 East, Victoria Gardens
678 Victoria Street
Richmond VIC 3121
Phone: +61 3 8416 5900
Fax: +61 3 8416 5999
E-mail: info@ionlimited.com
Web site: http://www.ionlimited.com.au/


LEN BLACK: Inability to Pay Debts Prompts Liquidation
-----------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Len Black's Courier Service Pty Limited, held on May 19,
2005, the following Special Resolution was duly passed:

That in the opinion of the Directors, the Company will not be
able to pay its debts within twelve (12) months, hence it be
wound up voluntarily by creditors.

Stephen Jay of Nicholls & Co., Chartered Accountants, Suite 2,
1st Floor, 43 Macquarie Street, Dubbo, NSW was appointed
Liquidator for the winding up process.

Dated this 19th day of May 2005

Stephen Jay
Liquidator
Nicholls & Co.
Suite 2, 1st Floor, 43 Macquarie Street
Dubbo NSW 2830


MASRI PAINTING: Creditors, Members to Meet July 12
--------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the members and creditors of
Masri Painting & Decorating Group Pty Limited will be held at
Ngan & Co, Level 5, 49 Market Street, Sydney NSW 2000 on
Tuesday, July 12, 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 27th day of May 2005

P. Ngan
Ngan & Co.
Level 5, 49 Market Street
Sydney NSW 2000
Liquidator


MILLER'S RETAIL: Cancels Lapsed Options
---------------------------------------
Miller's Retail Limited (MRL) advised of the cancellation of
1,233,701 Options convertible to ordinary shares granted under
the Miller's Senior Executive Option Plan to employees. The
options being cancelled have lapsed as the employees to whom the
options were granted have left the Company or the options have
lapsed as the exercise hurdles relating to these options were
not achieved.

The following options convertible to ordinary shares are
cancelled:

10,000 options at an exercise price of AU$4.75 granted July
2001, expiring November 2007
206,668 options at an exercise price of AU$5.75 granted August
2001, expiring November 2007
344,333 options at an exercise price of AU$3.20 granted October
2001, expiring January 2006
32,700 options at an exercise price of AU$0.01 granted October
2001, expiring October 2006
215,000 options at an exercise price of AU$2.15 granted August
2002, expiring October 2006
425,000 options at an exercise price of AU$1.86 granted October
2002, expiring October 2006

Subsequent to the cancellation of MRL has 244,995,602 ordinary
shares quoted on the ASX and 9,963,536 unlisted options on
issue.

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/


MT&EF WAITE: Set to Declare Dividend Today
------------------------------------------
MT&EF Waite Industries Pty Ltd is set to declare a dividend
today, July 5, 2005.

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

Dated this 26th day of May 2005

Michael W. McCann
Liquidator
Hayes Knight
Level 3, 60 Collins Street
Melbourne 3000


MULTIPLEX: Updates Profit Guidance for FY05, FY06
-------------------------------------------------
Multiplex announced a further update to the FY05 and FY06 profit
guidance released to market on May 30, 2005.

The May guidance outlined a forecast FY05 Aggregated Group
Profit after tax and pre stapled eliminations of US$170 million.
This estimate was qualified by several ongoing opportunities and
risks including assumptions about development sales for June
2005. An indicative range for FY06 Aggregated Group Profit after
tax and pre stapled eliminations of AU$200 to AU$215 million was
also provided.

Two development sale transactions were contracted by June 30,
2005 but there remains uncertainty as to the timing of
satisfaction of certain conditions and therefore uncertainty as
to the quantum of profit that can be recognized in FY05. Further
transaction details are anticipated to be provided on or before
the release of the Group's Annual Results on August 18, 2005.

Uncertainty in relation to the timing of the recognition of the
profit for these transactions may result in profit that would
otherwise have been recognized in the FY05 financial year being
deferred until FY06, assuming both transactions complete in
accordance with their terms.

On the basis that profit on neither transaction is recognized in
FY, the FY05 Aggregated Group Profit after tax and pre stapled
eliminations would be approximately AU$20 million lower than
previously forecast with a corresponding AU$20 million increase
in the forecast Aggregated Group Profit previously advised for
FY06 (i.e. an increase to AU$220 million to AU$235 million).

Estimated distribution for the six months ending June 30, 2005
remains unchanged, equating to 14 cents per security.

INVESTMENT ACQUISITION AND DISPOSAL SETTLEMENT UPDATE

On March 24, 2004, Multiplex Group announced the acquisition of
six industrial properties which included the deferred settlement
of an AU$10 million parcel of land at Rosehill, NSW. This land
had a prescribed settlement date of July 1, 2006. However,
settlement occured 12 months ahead of schedule, on June 30,
2005. As a consequence of the early settlement, the purchase
price was discounted by almost 6 percent to AU$9.4 million. As
advised on September 20, 2004, Multiplex Property Trust on-sold
two of the six industrial properties for NZ$26.2 million,
located in the Auckland suburb of Penrose. The properties
settled on June 30, 2005.

On May 2, 2005, Multiplex Group announced various property
divestments and acquisitions. The sale of 134 Reed Street,
Canberra, which was held within the single-asset Acumen
Diversified Property Trust, has now settled and proceeds
distributed to all unit holders. The settlement of 222
Exhibition Street, Melbourne - scheduled to occur in June 2005 -
has been deferred until late August, with the purchaser
providing an increased non-refundable deposit. The settlement of
a 50% interest in the Ernst & Young Centre and 50 Goulburn
Street, Sydney, and a 50% interest in World Square Shopping
Centre and car park remain on program to settle in late July,
2005.

REDMEPTION OF CONVERTIBLE PREFERRED SECURITIES (CPS)

Multiplex Group advised that it currently has 801,704 Multiplex
CPS outstanding with a redemption value of AU$80.17 million.
These CPS are due for redemption by Sept. 30, 2005 and were
previously assumed to be redeemed through thye proceeds raised
from the fully underwritten distribution reinvestment plan
(DRP), relating to the June half year (they would otherwise
convert into stapled securities on Sept. 30, 2005).

As previously advised the Group has elected to suspend the
operation of the DRP. The directors have decided to redeem the
CPS in full ahead of the redemption obligations. Funds for the
redemption of the CPS will be sources from a combination of the
Group's existing cash reserves and undrawn debt facilities.

The total number of Multiplex Group securities on issue
following redemption of the outstanding CPS is as follows:

Class                                         Number of
Securities

MXG Fully paid stapled securities             837,402,185

MXGAI Convertible Preferred Securities (CPS)  0

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: Vows to Deliver Wembley on Time
------------------------------------------
Multiplex Group director John Roberts has assured British
Minister for Sport Richard Caborn that the troubled Wembley
Stadium project will be completed on the scheduled date, relates
the Sydney Morning Herald.

According to Mr. Caborn, Multiplex promised to hand over the
stadium on time at the end of January.

Mr. Caborn made the comments before Wednesday's secrete ballot
for London to hold the 2012 Olympic Games.

When questioned about any backlash in terms of London's bid for
the Olympics because of Multiplex's problems with Wembley, he
was adamant there would be none.

This is a Company that has posted a A$170 million profit, I've
been reassured just that it will be on time," he said.

The minister later clarified this statement, saying that the
meeting with Multiplex's Mr. Roberts, who is now based in
London, had been two weeks earlier.

Mr. Roberts resigned his chairmanship but stayed on as a
director of the Company he founded more than four decades
earlier amid fallout from Multiplex's cost overruns at the
Wembley refurbishment.


NEEDHAM AVIATION: Prepares to Pay Final Dividend
------------------------------------------------
Needham Aviation Pty Limited will declare a first and final
dividend on July 6, 2005.

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

Dated this 30th day of May 2005

David Leigh
Liquidator
SimsPartners
Chartered Accountants
Suite 6A Bourne House, 10-12 Short Street
Port Macquarie NSW
Phone: (02) 6584 2653


R&F MANAGEMENT: Liquidator to Lay Winding Up Report
---------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
R&F Management Pty Ltd will be held at the offices of RSM Bird
Cameron Partners, Level 1, 103-105 Northbourne Avenue, Turner
ACT 2612, on Thursday, July 14, 2005 at 10:30 a.m., for the
purpose of laying before the meetings the liquidator's final
accounts and reports and give an explanation thereof.

Dated this 27th day of May 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue
Turner ACT 2612


SCANFIRE EXPLORATION: Creditors Asked to Submit Debt Claims
-----------------------------------------------------------
Creditors of Scanfire Exploration Pty Ltd whose debts or claims
have not already been admitted, must submit particulars of their
debts to claims and of any security held by the Official
Liquidator on or before July 7, 2005.

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

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

(b) Objecting to the distribution.

Dated this 25th day of May 2005

Darren Weaver
Joint and Several Liquidator
Ferrier Hodgson
Chartered Accountants
Level 26, 108 St George's Terrace
Perth WA 6000


SOUTHERN CONSTRUCTION: To Declare Dividend July 12
--------------------------------------------------
A dividend is to be declared on July 12, 2005 for Southern
Construction & Demolition Pty Limited.

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

Gavin Thomas
Official Liquidator
Level 9, 31 Market Street
Sydney NSW 2000


UTEC (SA) PTY: Begins Winding Up Proceedings
--------------------------------------------
Notice is given that at a general meeting of the members of Utec
(SA) Pty Limited duly convened and held on May 17, 2005, it was
resolved that Hugh Martin of Bernardi Martin, Level 1, 195
Victoria Square, Adelaide be appointed Liquidator for the
winding up of the Company.

Dated this 17th day of May 2005

Hugh Martin
Liquidator
Level 1, 195 Victoria Square
Adelaide


WAVERLEY WOOLLEN: Creditors Move to Rescue Blanket, Rug Maker
-------------------------------------------------------------
As a final attempt to save Waverley Woollen Mills, creditors of
the veteran travel rug and blanket manufacturer have agreed to
accept a portion of what they are owed, according to Mercury
News.

Administrator Dick Shoobridge confirmed a group of investors was
seeking under a deed-of-Company arrangement to raise funds to
pay out the secured creditor Westpac Bank, which is owed AU$1.5
million.

Under the deed, Westpac is considered paid out. The taxation
office, which was also a creditor (owed AU$643,844), would also
be paid out under the agreement.

Mr. Shoobridge said some new investors had joined people
involved with the firm in trying to raise finance.

Waverley Woollen went into administration in May with total
debts of about AU$3 million.

CONTACT:

Waverley Woollen Mills
PO Box 31
Launceston
Tasmania, Australia, 7250
By Phone/Fax in Australia:
Phone:     03 6339 1106
Facsimile: 03 6339 3537
By Phone/Fax Internationally:
Phone:     +61 3 6339 1106
Facsimile: +61 3 6339 3537
Web site: http://www.waverleyknittingyarn.com.au/


WOOD'S CONTRACTING: Members Unanimously Opt to Wind Up
------------------------------------------------------
Notice is hereby given that pursuant to sections 249A(2), 491(1)
and 495(1) of the Corporations Act 2001, it was unanimously
resolved by the members of Wood's Contracting & Haulage Pty
Limited on May 16, 2005 that the Company be wound up voluntarily
and, that Trevor John Wood of RMB 115 Lower Blacwood Road,
Kojunup, Western Australia be appointed Liquidator for such
purpose.

Dated this 21st day of May 2005
T. J. Wood
RMB 115 Lower Blackwood Road
Kojunup, Western Australia


WORK A WALLY: Appoints Liquidator
---------------------------------
Notice is now given that at meetings of members and creditors of
Work A Wally Pty Ltd convened pursuant to Section 497(1) & (2)
of the Corporations Act 2001 and held on May 18, 2005, creditors
resolved that the Company be wound up, and pursuant to Section
491(1) of the Corporations Act 2001, R. A. Sutcliffe was
appointed liquidator.

Dated this 18th day of May 2005

R. A. Sutcliffe
Liquidator
Ground Floor, 192-198 High Street
Northcote Victoria 3070
Phone: (03) 9482 6277


ZINNANDA PTY: Creditors' Proofs of Debts Due July 7
---------------------------------------------------
Creditors of Zinnanda Pty Ltd, whose debts or claims have not
already been admitted, are required on or before July 7, 2005 to
submit particulars of their debts or claims and of any security
held by them to the Company's official liquidator Darren Weaver,
and if subsequently required by notice in writing from the
liquidator, must formally prove their debts or claims and
establish any title they may have to priority by statement in
writing.

If creditors do not comply with this notice, they will be
excluded from:

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

(b) Objecting to the distribution.

Dated this 25th day of May 2005

Darren Weaver
Joint and Several Liquidator
Ferrier Hodgson
Chartered Accountants
Level 26, 108 St George's Terrace
Perth WA 6000


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

ACTIONACE.COM LIMITED: Issues Debt Claim Notice
-----------------------------------------------
Notice is hereby given that the creditors of Actionace.com (HK)
Limited (In Members' Voluntary Liquidation), required on or
before the close of business on July 18, 2005, to send in their
names, addresses and particulars of their debts or claims, and
the name and address of their solicitors to the undersigned at
8th Floor, Prince's Building, 10 Chater Road, Central, Hong
Kong.

If so required by notice in writing from the said Liquidators,
they are personally or by their solicitors to come in and prove
their said debts or claims at such time and place as shall be
specified in such notice. In default thereof, they will be
excluded from the benefit of any distribution before such debts
are proved. The Liquidators will then distribute any and all
surplus assets to shareholders and contributories thereafter.

Dated this 30th day of June, 2005

JACKY CW MUK
EDWARD S MIDDLETON
Joint and Several Liquidators


AKAI COMPANY: Receives Winding Up Order
---------------------------------------
Akai Company Limited, whose place of business is located at 2nd
Floor, Tak Woo House, 17-19 D'Aguilar Street Central, Hong Kong
was issued a winding up order notice by the High Court of the
Hong Kong Special Administrative Region Court of First Instance
on June 22, 2005.

Date of Presentation of Petition: March 17, 2005

Dated this 30th day of June 2005

ET O'Connell
Official Receiver


BANK OF COMMUNICATIONS: Posts Notice of Address Change
------------------------------------------------------
The Board of Directors of the Bank of Communications Co. Ltd.
Announced that a notice of a shareholders meeting was served to
shareholders of the Company who were registered as such on April
25, 2005 and June 30, 2005, the shareholders meeting was duly
and properly convened in accordance with the Company's articles
of association.

At the shareholders meeting, the attending shareholders of the
Company approved, by way of an ordinary resolution, the change
of the registered office of the Company to No. 188 Yincheng
Zhong Road, Shanghai, the People's Republic of China. The
attending shareholders of the Company further approved, by way
of a special resolution, amendments to the articles of
association of the Company in order to reflect the requirements
of the relevant government and regulatory authorities in the
People's Republic of China and Hong Kong, for the purpose of the
Company's listing application. These amendments include:

1) Clarification that notices published by the Company in the
Chinese press should be published in Hong Kong newspapers on the
same day;

2) Clarification that the Company's right to forfeit unclaimed
dividend shall be exercised until after the expiration of the
applicable limitation period;

3) Clarification that statements made by resigning auditors
shall be sent to all shareholders who are entitled to receive
the Company's financial reports;

4) Clarification that for corporate shareholders, both its
proxies and appointed representatives can attend shareholders
meeting and that proxies or appointed representatives of
recognized clearing houses need not produce proof of
shareholding and proxy form for the purpose of attending
shareholders meeting;

5) Inserting additional provisions to the Articles to the effect
that any director, supervisor or the president of the Company
who breaches relevant provisions of the PRC Company Law or who
are censured by the China Securities Regulatory Commission shall
terminate his position with the Company immediately; and

6) Inserting an additional provision to the Articles so that
significant matters such as public offering of new shares or
convertible bonds, significant asset restructuring and overseas
listing of the Company's subsidiaries can only be implemented
after such matters have been approved at a general meeting of
all shareholders and also by a simple majority of the Company's
A shareholders (if any).

The change of the registered address of the Company and the
amendments to the articles of association of the Company will be
effective subject to the approval or registration (as the case
may be) by the relevant government and regulatory authorities in
the People's Republic of China. Further announcement will be
made by the Company once such approval or registration (as the
case may be) has been obtained.

By order of the Board
Jiang Chaoliang
Chairman of the Board
June 30, 2005

CONTACT:

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


BECKON B: High Court Issues Winding Up Order
--------------------------------------------
Beckon B Co. Limited, whose place of business is located at
suite 3301 Floor Tower 1, Lippo Centre, 89 Queensway, Hong Kong
was issued a winding up order notice by the High Court of the
Hong Kong Special Administrative Region Court of First Instance
on June 20, 2005.

Date of Presentation of Petition: March 9, 2005

Dated this 30th day of June 2005

ET O'Connell
Official Receiver


CITYDATA INVESTMENTS: Placed Under Liquidation
----------------------------------------------
By an order made by Master S. Kwang on June 2005, Mr. Ho Kwan
Yiu Junius and Mr. Ho Wai Fung both of 18th Floor, Henley
Building, 5 Queen's Road Central, Central, Hong Kong, have been
appointed as the Joint and Several Liquidators of Citydata
Investments Limited (In Liquidation) without a committee of
inspection.

Dated this 30th day of June, 2005

HO KWAN YIU, JUNIUS
HO WAI FUNG
Joint and Several Liquidators


KONG WAH: Appoints Joint Liquidator
-----------------------------------
Mr. Cosimo Borrelli, of RSM Nelson Wheeler Corporate Advisory
Services Limited, 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong has been appointed as Joint
and Several Liquidator of Kong Wah Holdings Limited on the May
31, 2005 by an order of the High Court of the Hong Kong Special
Administrative Region.

Dated this 30th day of June, 2005

Cosimo Borrelli
Joint and Several Liquidator
Akai Holdings Limited
Kong Wah Holdings Limited

Presented for filing by:

RSM Nelson Wheeler Corporate Advisory Services Limited
7/F., Allied Kajima Building
138 Gloucester Road
Wanchai, Hong Kong
Phone: (852) 2583 1314
Fax: (852) 2598 0060


NEUSKY MEDIA: Court Releases Winding Up Notice
----------------------------------------------
Neusky Media Limited, whose place of business is located at
25/F, Pearl Oriental House, 60 Stanley Street Central, Hong Kong
was issued a winding up order notice by the High Court of the
Hong Kong Special Administrative Region Court of First Instance
on June 22, 2005.

Date of Presentation of Petition: April 6, 2005

Dated this 30th day of June 2005

ET O'Connell
Official Receiver


NEW CHINESE: FY/2005 Net Loss Narrows to HK$3.42 Mln
----------------------------------------------------
New Chinese Medicine Holdings Limited disclosed its financial
results ended March 31, 2005.

Year-end date: 31/03/2005
Currency: HKD
Auditors' report: Modified


                                 Audited          Audited
                                 Current Last Corresponding
                                  Period          Period
                               from 01/04/2004   from 01/04/2003
                                to 31/03/2005     to 31/03/2004
                                   $'000           $'000

Turnover                       :  8,011               636
Profit/(Loss) from Operations  :  (3,075)          (23,881)
Finance cost                   :  (351)               (1)
Share of Profit/(Loss) of Associates: N/A             N/A
Share of Profit/(Loss) of Jointly
         Controlled Entites      :  N/A               N/A
Profit/(Loss) after Taxation & MI: (3,420)          (23,887)
% Change Over the Last Period    :  N/A
EPS / (LPS)
          Basic (in dollar)      : (HKD 0.0073)     (HKD 0.0509)
          Diluted (in dollar)    :  N/A               N/A
Extraordinary (ETD) Gain/(Loss)  :  N/A               N/A
Profit (Loss) after ETD Items    : (3,420)          (23,887)
Final Dividends per Share        :  NIL               NIL
(specify if with other options)  :  N/A               N/A
B/C Dates for Final Dividends    :  N/A
Payable Date                     :  N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period: NIL
B/C Dates for Other Distribution     : N/A
                              (bdi: both days inclusive)

For and on behalf of
New Chinese Medicine Holdings Limited

Name: Kam Yiu Ming Wilfred
Title: Company Secretary

Remarks:

(1) MODIFIED OPINION FROM AUDITORS

Fundamental Uncertainty In Respect Of Going Concern

In forming our opinion, they have considered the adequacy of the
disclosures on the adoption of the going concern basis for the
preparation of the financial statements.  As explained in the
financial statements, the Group sustained a net loss and
operated under a negative cash flow for the year. The Group also
had net current liabilities of HK$5,216,661 as at the balance
sheet date.

Also explained in the financial statements, the financial
statements have been prepared on a going concern basis, the
validity of which is dependent on the Group's ability to return
to normal and profitable operational activity, the continuing
financial support from the Group's lender and the successful
conclusion to secure the new source of funding. The financial
statements do not include any adjustments that might be
necessary should the future operations could not generate
adequate working capital and/ or the financial support mentioned
above would be withdrawn. We consider that appropriate
disclosures have been made and our opinion is not qualified in
this respect.

(2) BASIS OF PRESENTATION AND FUNDAMENTAL UNCERTAINTIES

The financial statements have been prepared in accordance with
Hong Kong Financial Reporting Standards (which also include
Statements of Standard Accounting Practice and Interpretations)
issued by the HKICPA, accounting principles generally accepted
in Hong Kong, and the disclosure requirements of the Hong Kong
Companies Ordinance and the applicable disclosure provisions of
the Rules Governing the Listing of Securities on Growth
Enterprise Market (the GEM) of The Stock Exchange of Hong Kong
Limited (GEM Listing Rules). The financial statements have been
prepared under the historical cost convention.

The Group sustained a consolidated net loss from ordinary
activities attributable to shareholders of HK$3,420,760 for the
year ended March 31, 2005 and had consolidated net current
liabilities of HK$5,216,661 and consolidated net liabilities of
HK$17,101,193 as at March 31, 2005. During the year ended 31
March 2005 and subsequently, the directors have taken active
measures to improve the liquidity and financial position of the
Group.  The directors have prepared the financial statements on
a going concern basis, having regard to the following:

During the year, the Company extended a loan agreement with an
independent third party to extend the total limit of a loan to
be advanced to the Company from HK$10,000,000 to HK$15,000,000
and also extend the repayment date to June 30, 2006.  The loan
was principally granted for providing working capital to the
Group.  As at March 31, 2005, the drawdown by the Group amounted
to approximately HK$10.6 million. The loan and interest thereon
would be due for repayment in full by June 30, 2006. The
directors of the Company believed that such arrangement would
relieve the Group's liquidity difficulty.

On May 27, 2005, the Company entered into a subscription
agreement with a subscriber who is an independent third party.

Subject to the passing of the ordinary resolutions at an
extraordinary general meeting to be held on 6 July 2005 to
approve the share consolidation and the subscription agreement,
the Company will allot and issue 450,000,000 shares to the
subscriber upon the completion of the share consolidation, at a
subscription price of HK$0.04 per subscription share.  The net
proceeds of the subscription of shares amounted to approximately
HK$17,000,000 would be used principally as the general working
capital of the Group or for making future investments.

The directors are of the view that the above measures will
enable the Group to continue as a going concern and that the
Group will have sufficient working capital for the foreseeable
future. Accordingly, the directors are satisfied that it is
appropriate to prepare the financial statements on a going
concern basis.

However, if these measures were not to be successful or
insufficient, or if the going concern basis were not to be
appropriate, adjustments would have to be made to the financial
statements to restate the value of the Group's assets to their
recoverable amounts, to provide for any further liabilities
which might arise and to reclassify non-current assets and
liabilities as current assets and liabilities, respectively.

(3) (LPS)- BASIC

The calculation of basic loss per share is based on the net for
the year of approximately HK$3,420,000 (2004 net loss of
approximately HK$23,887,000) and on the weighted average number
of 469,000,000 (2003 ­V 460,000,000) shares
in issue during the year.

(4) DIVIDEND

The directors do not recommend the payment of any final dividend
for the year. (2004: Nil).

CONTACT:

New Chinese Medicine Holdings Limited
1/F, Wing Fai Shopping Arcade
52 Wing Kwong Street
Hunghom, Kowloon, HK
Phone: 23634633
Fax: 27248993
Web site: http://www.newchinesemedic.com


PO WING: Wind-up Hearing Set August 3
-------------------------------------
Notice is hereby given that a Petition for the Winding up of Po
Wing (International) Construction Limited by the High Court of
Hong Kong Special Administrative Region was June 2, 2005
presented to the said Court by Chow Yan Wei of Room 2009, 20th
Floor, Fortune Commercial Building, 362 Sha Tsui Road, Tsuen
Wan, New Territories, Hong Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on August 3, 2005.

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

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

TANNER DE WITT
Solicitors for the Petitioner
Suite 2308-9, 23rd Floor, Tower Two
Lippo Centre
89 Queensway, Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.  The Notice must state the
name and address of the person, or if a firm or his or their
Solicitor (if any) and must be served or if posted, must be sent
by post in sufficient time to reach the abovenamed not later
than six o'clock in the afternoon of August 2, 2005.


QUORUM ASSOCIATES: Winding Up Hearing Fixed July 20
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Quorum Associates Limited by the High Court of Hong Kong Special
Administrative Region was on the May 27, 2005 presented to the
said Court by Quorum Associates LLC whose registered office is
situated at Suite 901, 12 West 57th Street, New York, NY10019,
United States of America.

The said Petition has been amended pursuant to the Order of the
Court dated June 20, 2005 and is directed to be heard before the
Court at 9:30 a.m. on July 20, 2005.

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

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

BARLOW LYDE & GILBERT
Solicitors for the Petitioner
Suite 1901, 19th Floor, Cheung Kong Center
2 Queen's Road Central
Central, Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.  The Notice must state the
name and address of the person, or if a firm or his or their
Solicitor (if any) and must be served or if posted, must be sent
by post in sufficient time to reach the abovenamed not later
than six o'clock in the afternoon of July 19, 2005.


SATELLITE DEVICES: Incurs FY/2005 HK$17-Mln Net Loss
----------------------------------------------------
Satellite Devices Corporation (8172) incurred a net loss of
HK$17.163 million for the business year ended March 31, versus a
net loss of HK$47.099 million a year earlier. Loss per share
(LPS) was $0.0291.

No final dividend was declared.

CONTACT:

Satellite Devices Corporation
Unit 5, 20/F, Jupiter Tower
No, 9 Jupiter Street
North Point , Hong Kong
Phone: 24983180
Fax: 24292895
Web site: http://www.satellite-devices.com


SATELLITE DEVICES: AGM Set for July 25
--------------------------------------
The purpose of this circular is to provide you with information
regarding resolutions to be proposed at the annual general
meeting (the AGM) of Satellite Devices Corporation to be held at
10 a.m. on July 25, 2005 at the Grand Royal Club, Opal Hall
Level 6, Tower 2, Metroplaza 223 Hing Fong Road, Kwai Fong New
Territories, Hong Kong, for the following purposes:

1. To receive and consider the audited consolidated financial
statements and the reports of the directors and auditors for the
year ended March 31, 2005.

2. To re-elect the retiring director and to authorize the board
of directors to fix remuneration of all directors.

3. To re-appoint auditors of the Company and to authorize the
board of directors to fix their remuneration.

4. To consider as special business, and if thought fit, pass,
with or without amendments, the following resolution as an
ordinary resolution of the Company:

For more information, go to
http://bankrupt.com/misc/tcrap_satellite060405.pdf

By Order of the Board
Satellite Devices Corporation
Tsoi Siu Ching, Leo
Chairman
Hong Kong, 29 June 2005


SELBO INDUSTRIES: Liquidation Process Initiated
-----------------------------------------------
Selbo Industries Limited, whose place of business is located at
Room 1109, 11/F, 118 Connaught Road West, Hong Kong was issued a
winding up order notice by the High Court of the Hong Kong
Special Administrative Region Court of First Instance on June
15, 2005.

Date of Presentation of Petition: August 1, 2002

Dated this 30th day of June 2005

ET O'Connell
Official Receiver


SILKMATE INDUSTRIES: Enters Winding Up Proceedings
--------------------------------------------------
Silkmate Industries Limited, whose place of business is located
at Flat C & D, 4/F, 2-12 Au Pui Wan Street, Fo Tan, New
Territories was issued a winding up order notice by the High
Court of the Hong Kong Special Administrative Region Court of
First Instance on June 15, 2005.

Date of Presentation of Petition: August 1, 2002

Dated this 30th day of June 2005

ET O'Connell
Official Receiver


SPECIAL YEAR: Court to Hear Wind-up Petition July 6
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Special Year International Limited by the High Court of Hong
Kong Special Administrative Region was on May 4, 2005 presented
to the said Court by Chan Chang Priscilla of Flat F, 21/F.,
Block 12, Hong Kong Garden, 100 Castle Peak Road, Tsing Lung
Tau, Tsuen Wan, New Territories, Hong Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on July 6, 2005.

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

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

IVAN TANG & CO.
Solicitors for the Petitioner
Units A & B, 22nd Floor
Silvercorp International Tower
707-713 Nathan Road
Kowloon, Hong Kong
Phone: 2388 9389
Fax: 2770 1726

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.  The Notice must state the
name and address of the person, or if a firm or his or their
Solicitor (if any) and must be served or if posted, must be sent
by post in sufficient time to reach the abovenamed not later
than six o'clock in the afternoon of July 5, 2005.


WEALTHMARK INTERNATIONAL: Two Directors Quit Posts
--------------------------------------------------
Reference is made to the announcement of Wealthmark
International (Holdings) Limited dated June 24, 2005 regarding,
among other things, the resignation of Mr. Wong Chor Sang as
Executive Director of the Company and Mr. Sheung Kwan as
independent non-executive Director of the Company.

The Board of Directors clarified that each of Mr. Wong and Mr.
Chan resigned due to personal reasons, and reiterate that each
of Mr. Wong and Mr. Chan has confirmed to the Company that there
are no matters relating to the Company that ought to be brought
to the attention of the shareholders.

By order of the Board
Wealthmark International (Holdings) Limited
Peter Lo
Chairman
Hong Kong June 30, 2005

CONTACT:

Wealthmark International (Holdings) Limited
2116 Hutchison House
10 Harcourt Road,
Central, Hong Kong
Phone: 27990515
Fax: 27963712


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

ABDI BANGSA: Buys More Firms Despite Losses
-------------------------------------------
Despite an increase in losses, media firm PT Abdi Bangsa Tbk is
set to acquire two media companies this year, reports the
Jakarta Post.

Abdi Bangsa president director Erick Thohir said that the
Company plans to acquire up to 60% of newspaper publishing firm
PT Emas Indonesia Duaribu, adding that they have agreed on Abdi
Bangsa's buying a 25% stake.

According to Mr. Thohir, it is likely that they would be able to
buy 60% of Emas Indonesia Duaribu. The shares would then go to
the Company's shareholders who are not its founders nor
employees.

The acquisition is expected to be worth IDR6 billion and is set
to be completed this month.

The other Company that Abdi Bangsa plans to buy is PT Radionet
Cipta Karya, which controls FM radio stations in Jakarta and
Bandung, among others. The Company would decide whether to merge
with the firm or buy it out in September.

PT Abdi Bangsa has posted losses since 2002. It suffered a net
loss if IDR4.39 billion. In 2003, the Company incurred a IDR7.37
billion net loss, which increased to IDR16.36 billion last year.

According to the Company, the losses were due to extraordinary
items such as provisions for bad debts that amounted to IDR8.43
billion and a difference between asset valuations and real
market value, which cost IDR5.62 billion.

But despite all these, the Company's revenues increased 35% this
year to 17.64 billion, and plans to continue expanding its
business.

P.T. Abdi Bangsa Tbk. is an Indonesia-based media and printing
Company. The Company's principal activity is the publication of
daily newspapers.

CONTACT:

P.T. Abdi Bangsa Tbk.
Jl. Warung Buncit Raya No. 37
Jakarta, 12510
Indonesia
Phone: 21 780 3747
Fax:   21 798 3623


ASIA PULP: Two Units Return to Black After Debt Restructure
-----------------------------------------------------------
Paper firm PT Asia Pulp & Paper Co.'s two subsidiaries, namely
PT Indah Kiat Pulp & Paper and PT Pabrik Kertas Tjiwi Kimia,
report a return to profit after completing debt-restructuring
programs, AFX News reports.

In the restructuring program of PT Indah Kiat Pulp & Paper, the
Company issued bonds worth IDR981.9 billion, and creditors of
parent Asia Pulp agreed to restructure IDR46.13 trillion worth
of debt owed by both Indah Kiat and Tjiwi Kimia in a Master
Restructuring Agreement (MRA) that went into effect on April 28,
2005.

Indah Kiat posted IDR2.81 trillion in losses in 2003, but after
the debt restructure where it gained returns amounting to IDR6.6
trillion, the firm was able to generate a net profit of IDR3.85
trillion in 2004.

PT Pabrik Kertas Tjiwi Kimia reported a net loss of IDR314.7
billion in 2003, but was able to turn anround in 2004 with a net
profit of IDRi.82 trillion due to IDR2.7 trillion in gains from
the debt restructuring.

It was only in December 2004 that the foreign creditors of Asia
Pulp & Paper Co. approved its debt-restructuring program. Around
93% of the Company's debt to creditors (65.82 trillion) is owed
by its subsidiaries.

CONTACT:

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


PERTAMINA: Board of Directors Stays On
--------------------------------------
State oil and gas firm PT Pertamina's board of directors is
staying on despite reports of a change of management for the
firm, reports the Jakarta Post.

According to Pertamina President Commissioner Martiono Hadianto,
there are no plans to change its current board of directors or
review their performance, as such may only be done after an
audited financial report of the Company.

The Company is still awaiting the completion of its assets
revaluation from the Ministry of Finance, before it can have its
financial reports for the last quarter of 2003 audited.

The Company also plans to follow up the deal between the
Indonesian government and U.S. firm ExxonMobil on the
development of a Pertamina-owned gas block in Cepu. According to
a memorandum of understanding reached by both parties, both
ExxonMobil and Pertamina are slated to receive from 6.75% to
13.5% of the total output from the Cepu block, depending on oil
prices.

The Company's board of directors has the task of following up
the agreement, to come up with a binding contract within three
months from June 25, 2005. Pertamina management is doing
everything it can to ensure that both the Company and the
government would benefit as much as possible from the agreement,
according to Company vice president Mustiko Saleh.

CONTACT:

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


PERTAMINA: Fuel Shortage Delays Maintenance Shutdown of Refinery
----------------------------------------------------------------
The recent fuel shortage in Indonesia has pushed back the
planned temporary shutdown by state oil firm PT Pertamina of its
Dumai oil refinery, Dow Jones reports.

The refinery, which is located in Riau, was scheduled to be shut
down for 21 days this month for maintenance reasons. But
according to Company director Suroso Atmomartoyo, they decided
to delay the shutdown by another two weeks, so as to continue
producing more oil to cope with increased national demand and
the lack of supply.

The Dumai oil refinery produces up to 120,000 barrels of fuel
per day.

Pertamina's Dumai refinery is one of the Company's nine oil
refineries, which produce 1 million barrels of oil daily.


TELEKOMUNIKASI INDONESIA: Seeks to Extend Submission of Report
--------------------------------------------------------------
Indonesia's telecommunications firm PT Telekomunikasi Indonesia
(Telkom) announced that it submitted to the U.S. Securities &
Exchange Commission (SEC) a proposal to extend the deadline of
submission of its 2004 audited financial report, reports the
Jakarta Post.

The Company seeks the extension due to failure to submit its
accounts based on SEC standards by the June 30 deadline. In a
statement, Telkom announced that it needs more time to complete
its 2004 financial report, as its 2003 financial report is being
interviewed by the country's financial regulator, and it is
working with advisors on the review of its 2004 financial
statements. But it may be likely that the Company would not be
able to pass its report even with the proposed extension.

Since Telkom's American depositary receipts are traded on the
New York Stock Exchange, the Company must submit its financial
records to the U.S. SEC. The Company started having problems
with its financial statements when the SEC rejected its 2002
financial report, as its Company auditor was not recognized by
the commission, forcing the Company to select another auditor
(PricewaterhouseCoopers) to audit its accounts.

This, in turn, resulted in the Company's revision of its 2002
financial statements in order to incorporate certain changes
such as a 3.7% decline in its (consolidated) net profit. And the
Company was also late in submitting its 2003 report because of
that delay.

PT Telekomunikasi Indonesia owns more than 50% of the state's
mobile communications market, and recently appointed Bank Negara
Vice President Mr. Arwin Rasyid to be its new president
director.

CONTACT:

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


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

DAIEI INCORPORATED: Eyeing JPY20-Bln Property Sale
--------------------------------------------------
Struggling Daiei Incorporated is poised to sell about 106 real
estate items for an estimated JPY20 billion as part of its
restructuring scheme, Kyodo News reports, citing the Nihon
Keizai Shimbun.

The sales, to be finalized by the end of February 2006, are
designed to repay part of its huge debts using the proceeds from
the property sale.

CONTACT:

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


JAPAN AIRLINES: Confirms Order for Six 767-300ERs
-------------------------------------------------
The Boeing Company (NYSE:BA) and Japan Airlines (JAL) confirmed
on Friday an order by JAL for six new Boeing 767-300ER
airplanes, valued at approximately $800 million at list prices.

The airline will receive three freighters and three passenger
models. Deliveries will begin in 2007 and run through early
2008. It is the first time JAL has ordered the 767-300ER
Freighter.

"Boeing and Japan Airlines have a very special relationship,
based on long-time mutual knowledge and trust," said Boeing
Commercial Airplanes Vice President of Sales Larry Dickenson.

"These 767 models provide excellent efficiency and reliability
for JAL's regional routes. We are proud to be JAL's partner."

General Electric CF6-80C2 high-bypass turbofan engines will
power the new airplanes. With this order, Japan Airlines' 767
commitments total 46 airplanes.

The 767 offers superior reliability and low operating cost per
trip. Boeing has delivered 930 767s that are flown by more than
100 operators worldwide. The 767 family has accumulated more
than 10 million flights and carried millions of passengers.

The 767 Freighter is the only 60-ton freighter with
international capability and can accommodate a combined maximum
payload capability of 16,034 feet3 (454 m3). At its 60.5-ton
(54.88 metric ton) maximum payload, the 767 Freighter has a
range of 3,270 nautical miles (6,056 km). When carrying 50 tons
(45.4 metric tons), the 767 Freighter has a range of 4,255
nautical miles (7,880 km).

As of June 1, 2005, JAL serves 208 airports in 35 countries with
approximately 280 airplanes, including Boeing 747, 777, 767 and
737 models. JAL has also ordered 30 Boeing 787 Dreamliners and
30 Next-Generation 737-800 passenger airplanes.

CONTACT:

Bob Saling of Boeing Seattle, +1-206-852-3327, or
bob.saling@boeing.com, or Leslie Nichols of Boeing Everett, +1-
425-342-0447, or leslie.m.nichols@boeing.com, or Naoko Masuda of
Boeing Tokyo, +81-3-5223-1234, or naoko.masuda@boeing.com
Web site: http://www.boeing.com/

This is a Company press release.


JAPAN AIRLINES: Postpones Domestic Late Night Cargo Flights
-----------------------------------------------------------
Japan Airlines (JAL) has decided to postpone indefinitely the
launch of scheduled late night domestic air cargo flights
between Tokyo and Kumamoto in central Kyushu, following
objections by local residents over aircraft noise.

The flights were planned to start from July 7, initially on a
three nights per week basis, increasing to daily flights from
November.

After revising the flight schedule to further reduce
disturbance, JAL intends to continue to seek the local
community's acceptance of the new service, which has the support
of many local businesses. Farmers, growers of fruit and
vegetables and seafood producers in the southern Kyushu region
see the new flights as a major business opportunity and a boost
for the local economy.

There is no new date set for the start of the service but JAL
hopes that the issue can be settled as soon as possible.

Initially, JAL had planned to use Airbus 300-600R aircraft
because of the aircraft's low noise rating, in consideration of
residents near the airport.

To further minimize noise disturbance, the flights had been
timed to arrive at Kumamoto as early as possible and to depart
for Tokyo as late as possible. JAL had announced that crews
would make maximum use of noise abatement procedures, such as
refraining from using reverse thrust on landing as much as
possible. Other measures included reduced power landing
approaches and selected take-off patterns to reduce the flight
noise imprint on the ground. In preparation for the cargo
flights, in February JAL made test-flights to assess night noise
effects in the Kumamoto Airport area.

For further information contact:
geoffrey.tudor@jal.com
stephen.pearlman@jal.com
Telephone: 81-3-5460-3109
Fax: 81-3-5769-6487
www.jal.com/en/corporate/

This is a Company press release.


MATSUSHITA ELECTRIC: Trims 1,000 Jobs in Semiconductor Division
---------------------------------------------------------------
Matsushita Electric Industrial Co. plans to slash 1,000 jobs at
its semiconductor development plant as part of its cost cutting
scheme, Kyodo News reports.

The move is designed to raise the cost competitiveness of
Matsushita semiconductors used in plasma display televisions and
other digital electronics products.

Matsushita said it would take requests until mid- July from some
of its 15,000 semiconductor division employees who are willing
to quit for payments.

CONTACT:

Matsushita Electric Industrial Co. Ltd. (Panasonic)
1006, Oaza Kadoma
Kadoma-shi, Osaka 571-8501
Japan
Phone: +81 6 6908 - 1121
Fax: +81 6 6908 2351


MITSUBISHI MOTORS: Relocates Head Office
----------------------------------------
Mitsubishi Motors Corporation has recently decided to relocate
its head office, moving from its present address at the
Shinagawa Mitsubishi Building, 2-16-4 Konan, Minato-ku to the
Daiichi Tamachi Building, 5-33-8 Shiba, Minato-ku in December
next year.

The decision was prompted by the fact that the lease on the
current head office property expires next year.

Mitsubishi Motors used to have its head office at the Daiichi
Tamachi Building until April 2003.

The Company has taken the decision to move back because the
Daiichi Tamachi Building will become available for occupancy
again in the fall of 2006 and because it will realize cost
reductions.

Mitsubishi Motors had been planning to relocate head office
functions to Kyoto but the Company has decided to re-examine the
scale and timing of the relocation as the prospects for
achieving the Mitsubishi Motors Revitalization Plan grow
stronger. As a result, Mitsubishi Motors has decided to locate
its head office at the Daiichi Tamachi Building from December
next year and thereby devotes its efforts to the ongoing drive
to achieve the Revitalization Plan.

This is a Company press release.


MITSUBISHI MOTORS: Recalls 200,000 Libero Station Wagons
--------------------------------------------------------
Mitsubishi Motors Corporation is recalling 209,000 units of its
Libero station wagon for free repairs due to defective mounting
bolts in the tailgate, which the automaker said led to a user
being injured last year, Kyodo News reports.

The affected models were made between March 30, 1992, and August
22, 2002, the automaker said in a recall notice to the Ministry
of Land, Infrastructure and Transport.

CONTACT:

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


MITSUBISHI MOTORS: Reports June U.S. Sales
------------------------------------------
Mitsubishi Motors North America, Inc., (MMNA) announced a total
June 2005 U.S. sales of 10,621 units. Retail sales are up 2
percent from the same month last year. Led by the outstanding
sales performance of the all-new 2006 Eclipse in a very
competitive market, this is the first time in almost three years
retail sales have increased year over year for Mitsubishi
Motors.

The Eclipse led sales increases for the month with 2,140 units
sold -- up 35 percent from last month's volume. June was the
best month of the year for the Eclipse, which is also up 7
percent YTD at 7,844 units. Galant was the volume leader this
month, with 2,476 units sold.

"We are 'thrilled' with the successful launch of the new
Eclipse," said David Schembri, executive vice president of sales
and marketing at Mitsubishi Motors North America. "This combined
with our year over year increase in retail sales is a solid
indication that Mitsubishi has turned the corner in the U.S.
market."

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of the Mitsubishi Motors Corporation in
the United States and Canada. Mitsubishi Motors sells coupes,
convertibles, sedans and sport utility vehicles through a
network of approximately 625 dealers. For more information,
contact the Mitsubishi Motors News Bureau at (888) 560-6672 or
visit media.mitsubishicars.com.

This is a Company press release.


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

ASIANA AIRLINES: Normal Ops to Push Through Amid Planned Strike
---------------------------------------------------------------
Asiana Airlines assured that no flight disruptions would
materialize on the day the unionized pilots stage their 24-hour
strike, reports Associated Press.

The airline would utilize its 299 non-unionized pilots in order
to service passenger of its 127 domestic and 140 international
flights during the possible strike.  Around 50,000 passengers
are expected to fly with Asiana during the period.

Lee Hack-ju, an official at the pilot's union, said Asiana's
unionized pilots threatened to stage a strike on demands of
increased job security and reduced flying hours.

The union and the airline scheduled a meeting Monday to talk
over the pilot's demands in order to avert the planned walkout
of 527 pilots.

CONTACT:

Asiana Airlines Incorporated
47 Osoe-Dong Kangseo-Gu
157-270
Korea (South)
Telephone: +82 2 669 3114 / +82 2 669 3170


DAEWOO SHIPBUILDING: Wins US$350-Mln Contract to Build LNG-RV
-------------------------------------------------------------
Daewoo Shipbuilding and Marine Engineering Co. (DSME) won
contracts to build vessels for gas companies in Belgium and
Greece worth US$350 million, Yonhap News relates.

For the Belgian firm Exmar, DSME will build a 150,900-cubic-
meter liquified natural gas re-gasification vessel (LNG-RV),
tentatively named the Explorer.  The Company is also to provide
the Greek gas Company Maran Gas Maritime Inc. with an 84,000-
cubic-meter liquefied petroleum gas carrier by January 2009.

The LNG-RV supplies regasified LNG directly without using
storage facilities on land or huge tanks, which is convenient
for meeting small-size demand. Delivery is set for March 2008.

DSME eyes an expansion on LNG-RV demand since it can provide LNG
without a huge investment in equipment.  In the first five
months of the year, the Company has obtained orders for 15 ships
worth US$2.63 billion in the first five months of the year, or
44 percent of its 2005 target.

CONTACT:

Daewoo Shipbuilding & Marine Engineering Co.
South Korea
Phone: 02-2129-0114
Web site: http://www.dsme.co.kr


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

ANCOM BERHAD: Buys Back 57,200 Shares
-------------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buyback dated July 1, 2005 with the following details:

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

Total number of shares purchased (units): 57,200

Minimum price paid for each share purchased (RM): 0.630

Maximum price paid for each share purchased (RM): 0.655

Total consideration paid (RM):

Number of shares purchased retained in treasury (units): 57,200

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

Cumulative net outstanding treasury shares as at to-date
(units): 10,508,000

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

CONTACT:

Ancom Berhad
Level 14, Uptown 1
No. 1 Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Telephone: 03-77252888
Fax: 03-77257791
Web site: http://www.ancom.com.my


CRIMSON LAND: Allots, Issues RCSLS to MBSB
------------------------------------------
Crimson Land Berhad issued to Bursa Malaysia Securities Berhad
an update to the following proposals:

- Proposed Rights ICULS Issue with Warrants;
- Proposed Acquisition; and
- Proposed Debt Restructuring

The Proposed Debt Restructuring above entails, inter-alia, the
issuance of MYR43,070,000 nominal value of 2 percent, 6 to 10-
year redeemable convertible secured loan stocks (RCSLS) at 100
percent of the nominal value as full settlement of bank
borrowings by the Crimson Group to Malaysia Building Society
Berhad (MBSB).

In connection thereto, Alliance Merchant Bank Berhad (Alliance),
on behalf of Crimson, informed Bursa Malaysia Securities Berhad
that, in connection with the Proposed Debt Restructuring,
Crimson had on June 30, 2005 allotted and issued MYR43,070,000
nominal value RCSLS to MBSB.

The RCSLS will be prescribed under the Scripless Securities
Trading System (SSTS) of the Real Time Electronic Transfer of
Funds and Securities System (RENTAS) of Bank Negara Malaysia
(BNM) and reported on the Fully Automated System for
Issuing/Tendering System (FAST) of BNM.

With the issue of the MYR43,070,000 nominal value RCSLS to MBSB,
the Proposed Debt Restructuring is completed. The Proposed
Acquisition was completed on March 29, 2004. On June 15, 2005,
Crimson announced that it has aborted the Proposed Rights ICULS
Issue with Warrants.

This announcement is dated 30 June 2005

CONTACT:

Crimson Land Berhad
5, Persiaran Lidcol
Off Jalan Yap Kwan Seng
50450 Kuala Lumpur
Telephone: 03-2162 8099;
Fax: 03-2162 8711/2161 5045


GULA PERAK: Bourse to List 25,000 Additional Shares
---------------------------------------------------
Gula Perak Berhad advised that its additional 25,000 new
ordinary shares of MYR1.00 each issued pursuant to the
conversion of 25,000 irredeemable convertible secured loan
stocks 2000/2005 into 25,000 new ordinary shares will be granted
listing and quotation with effect from 9:00 a.m., Monday, July
4, 2005.

CONTACT:

Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Telephone: 03-4044 2828
Fax: 03-4044 6688


HONG LEONG: Unloads Interest in HLI Holdings
--------------------------------------------
Hong Leong Industries Berhad issued to Bursa Malaysia Securities
Berhad the details of the disposal of 100 percent equity
interest in HLI Holdings, Inc.

(1) Introduction

Hong Leong Industries Berhad (HLIB) informed the bourse that the
Company had, on June 30, 2005, entered into a Memorandum of
Agreement (MOA) with OE Holdings, Inc. (OHI) for the disposal of
100,000 common shares of stock of Php1.00 each (HHI Shares),
representing 100 percent equity interest in HLI Holdings, Inc.
(HHI), to OHI for cash consideration of Php1,000.00 (or
approximately RM68.00) (Disposal).

OHI is a wholly owned subsidiary of Prime Orion Philippines,
Inc. (POPI), a listed Company in the Republic of the
Philippines, which in turn is 19.06 percent owned by Guoco Group
Ltd (GGL), a listed Company in Hong Kong and a related Company
of HLIB.

(2) Information on Companies

(2.1) HHI

HHI was incorporated in the Republic of the Philippines on
August 19, 1994. The authorized and issued share capital of HHI
is Php100,000 comprising 100,000 common shares of stock of
Php1.00 each. HHI is currently a dormant Company.

(2.2) OHI

OHI was incorporated in the Republic of the Philippines on
August 6, 1993. The authorized and issued share capital of OHI
is Php100,000 comprising 100,000 common shares of stock of
Php1.00 each. OHI is a trading Company and is a wholly owned
subsidiary of POPI.

(3) Details of the disposal

The consideration of Php1,000.00 (or approximately MYR68.00) for
the Disposal was arrived at on a willing buyer willing seller
basis after taking into account of HHI's deficit shareholders'
fund.

The aforesaid consideration for the Disposal has been paid in
full upon signing of the MOA.

The audited shareholders' fund deficit of HHI as at June 30,
2004 and loss after tax attributable to HHI for the financial
year ended June 30, 2004 are Php908,392,533.00 (or approximately
MYR62,084,382.00) and Php57,313,143.00 (or approximately
MYR3,917,085.31) respectively. The original cost of investment
of the HHI Shares was Php100,000.00 (or approximately
MYR10,000.00) incurred in August 1994.

There is no liability to be assumed by OHI arising from the
Disposal.

The HHI Shares will be disposed of free from any and all liens
and encumbrances and with all rights, titles and interests in
the HHI Shares.

(4) Rationale for the disposal

HHI is a dormant Company and there is no future plan to activate
this Company.

(5) Effects of the disposal

The Disposal will not have any effect on the share capital and
major shareholders' shareholdings in HLIB.

The Disposal will not give rise to any material effect on the
earnings and net tangible assets per share of HLIB Group for the
financial year ending June 30, 2005.

(6) Condition of the disposal

The Disposal is not subject to the approval of shareholders of
HLIB nor any Malaysian governmental authority.

(7) Directors' and Major Shareholders' Interests

YBhg Tan Sri Quek Leng Chan is a Director and a major
shareholder of HLIB and GGL. Mr. Kwek Leng San, a brother of
YBhg Tan Sri Quek Leng Chan, is a Director and shareholder of
HLIB and GGL.

Save as disclosed above, the Company is not aware of any of its
other Directors and major shareholders or any persons connected
to the Directors and major shareholders, has any interest,
direct or indirect, in the Disposal.

(8) Directors' Opinion

The Directors of the Company (except for YBhg Tan Sri Quek Leng
Chan and Mr. Kwek Leng San who are deemed interested in the
Disposal) having taken into consideration all aspects of the
Disposal, are of the opinion that the Disposal is in the best
interest of HLIB Group.

(9) Document available for inspection

A copy of the MOA in relation to the Disposal is available for
inspection at the Registered Office of HLIB at Level 9, Wisma
Hong Leong, 18 Jalan Perak, 50450 Kuala Lumpur during normal
office hours from Mondays to Fridays (except public holidays)
for a period of 14 days from the date of this announcement.

This announcement is dated 30 June 2005.

CONTACT:

Hong Leong Industries Berhad
Level 9, Wisma Hong Leong
18, Jalan Perak
50450 Kuala Lumpur
Malaysia
Phone: 03-2164 2631
Fax: 03-2164 2514
Web site: http://www.hongleong.com


HONG LEONG: Repurchases 730,000 Ordinary Shares
-----------------------------------------------
Hong Leong Bank Berhad issued a notice of shares buy back to
Bursa Malaysia Securities Berhad on June 30, 2005 with the
following details:

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

Total number of shares purchased (units): 730,000

Minimum price paid for each share purchased (RM): 5.150

Maximum price paid for each share purchased (RM): 5.200

Total consideration paid (RM): 3,791,036.00

Number of shares purchased retained in treasury (units): 730,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 51,542,700

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

This announcement is dated 30 June 2005.


KIG GLASS: Directors Opt for Retirement
---------------------------------------
On behalf of the Board of Directors of KIG Glass Industrial
Berhad, disclosed to Bursa Malaysia Securities Berhad that all
the resolutions described in the notice of the Seventeenth
Annual General Meeting of the Company dated June 3, 2005 have
been passed at the aforesaid meeting held on June 30, 2005 with
the exception of resolution number 4 whereby, Mr. Loo Cheng Guan
who did not wish to seek for re-appointment and retired as
Director of the Company.

CONTACT:

KIG Glass Industrial Berhad
Suite 5.3A, Level 5, Menara Pelangi
No. 2, Jalan Kuning, Taman Pelangi
80400 Johor Bahru, Johor
Malaysia
Phone: 07-3341750
Fax: 07-3318617


K.P. KENINGAU: White Knight Backs Out
-------------------------------------
On behalf of the Board of Directors of K.P. Keningau Berhad,
Southern Investment Bank Berhad informed Bursa Malaysia
Securities Berhad that Gabungan Cendawan Sdn Bhd, the white
knight for the proposed rescue cum debt restructuring scheme
(Proposed Restructuring Scheme), had vide its letter dated June
29, 2005 informed the Company of its withdrawal as the white
knight from the Proposed Restructuring Scheme and the Company
acknowledged and consent the same in its letter dated June 30,
2005.

In view of this, the Company will consider other avenues to
regularize its financial condition pursuant to PN4 of the
Listing Requirements.

This announcement is dated 30 June 2005.

CONTACT:

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


MALAYSIAN PLANTATIONS: Units Wind Up Voluntarily
------------------------------------------------
Malaysian Plantations Berhad issued to Bursa Malaysia Securities
Berhad details of its subsidiaries' voluntary winding-up.

(1) Introduction

Malaysian Plantations Berhad (MPlant) advised that the following
subsidiaries of the Company have on June 30, 2005 commenced
member's voluntary winding-up pursuant to Section 254(1) of the
Companies Act, 1965:

(i) Setiu Green Development Sdn Bhd (Setiu Green Development)
and
(ii) Pantai Lagenda Golf & Country Club Sdn Bhd (Pantai
Lagenda).

(2) Details of Setiu Green Development and Pantai Lagenda

(i) Setiu Green Development

Setiu Green Development was incorporated on May 11, 1994 and is
a wholly owned subsidiary of MPlant.

The present authorized capital of Setiu Green Development is
MYR100,000,000 comprising 100,000,000 ordinary shares of MYR1.00
each. Its issued and paid-up share capital is MYR27,417,002
comprising 27,417,002 ordinary shares of MYR1.00 each fully
paid.

Setiu Green Development was principally engaged in property
development and it ceased its operations during the financial
year ended March 30, 2000.

(ii) Pantai Lagenda

Pantai Lagenda was incorporated on August 26, 1996 and is a
wholly owned subsidiary of Kota Indrapura Development
Corporation Berhad, which in turn is a wholly owned subsidiary
of MPlant.

The present authorized capital of Pantai Lagenda is MYR100,000
comprising 100,000 ordinary shares of MYR1.00 each. Its issued
and paid-up capital is MYR20,000 comprising 20,000 ordinary
shares of MYR1.00 each fully paid.

Pantai Lagenda was principally engaged in golf resort operations
and related activities and it ceased its operations on October
17, 2003.

(3) Rationale

The voluntary winding-up of Setiu Green Development and Pantai
Lagenda is part of the MPlant Group's continuing rationalization
efforts to wind-up its dormant subsidiaries.

(4) Effect of the Member's Voluntary Winding Up

The voluntary winding up of Setiu Green Development and Pantai
Lagenda is not expected to have any material effect on the
earnings or net tangible assets of the MPlant Group for the
financial year ending March 31, 2006.

(5) Directors and Major Shareholders' Interest

None of the directors, major shareholders of MPlant and persons
connected with them have any interest, direct or indirect, in
the member's voluntary winding-up of Setiu Green Development and
Pantai Lagenda.

This announcement is dated 30 June 2005.


MMC CORPORATION: Aviation Unit Faces Dissolution
------------------------------------------------
MMC Corporation Berhad (MMC) advised Bursa Malaysia Securities
Berhad that pursuant to MMC Aviation's application to the
Companies Commission of Malaysia (CCM) to strike off its name,
it has received confirmation that the name of MMC Aviation will
be struck off from CCM's register after the expiration of three
(3) months from April 29, 2005 and thereafter MMC Aviation will
be dissolved, unless cause is shown to the contrary.

MMC Aviation is a subsidiary of Anglo-Oriental (Annuities) Sdn
Bhd, which in turn is a wholly owned subsidiary of MMC. MMC
Aviation had remained dormant since its incorporation in
September 1988.

The proposed striking off of MMC Aviation is in line with the
reorganization and streamlining of MMC Group's structure and
does not have any material impact on the Group's operations.

This announcement is dated 30 June 2005.


MYCOM BERHAD: Seeks Extension to Complete Restructuring Exercise
----------------------------------------------------------------
Reference is made to the announcement made by Mycom Berhad dated
April 8, 2005 on the Securities Commission's  (SC) approval for
an extension of time up to September 30, 2005 for the
implementation of the Proposed Restructuring Scheme and the
subsequent announcements dated April 29, 2005 and May 31, 2005
on the status of the implementation of the Proposed
Restructuring Scheme.

In view of recent unforeseen events, the Board of Directors of
Mycom Berhad (Board) is of the opinion that the Company may not
be able to complete the Proposed Restructuring Scheme in time by
September 30, 2005.

Major Outstanding Events Proposed Earlier Timeline as Announced
Explanation Execution of trust deeds/deed poll and other
creditors' agreements June 2005 As the Proposed Restructuring of
Mycom and Olympia Industries Berhad (OIB) are inter-conditional,
and in view of the anticipated delay in OIB's Proposed
Restructuring Scheme, the execution of Mycom's restructuring
documents would have to be deferred until September 30, 2005.
Please refer to the announcement by OIB on even date for further
details.

Execution of the Underwriting Agreement in connection with the
Proposed Rights Issue June 2005 Negotiations with certain
potential underwriters are still being made for the underwriting
in relation to the Proposed Rights Issue. The Company foresees
that the execution of the Underwriting Agreement may be delayed
to around September 30, 2005 in accordance with the
abovementioned delay.

In light of the above, the Company plans to seek the SC's
approval for an extension of time up to December 31, 2005 to
complete the Proposed Restructuring Scheme in due course.

Barring further unforeseen circumstances, the Board is of the
opinion that the proposed completion date of December 31, 2005
is achievable.

This announcement is dated 30 June 2005.

CONTACT:

Mycom Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Phone: +60 3 2072 3993
Fax: +60 3 2072 3996


OLYMPIA INDUSTRIES: U.K. Unit Dissolved
---------------------------------------
Further to our announcement dated January 13, 2005 on the
application to the Registrar of Companies House in United
Kingdom to strike off Jupiter Capital (UK) Limited (JCUKL) from
the register, the Board of Olympia Industries Berhad (OIB) now
informed Bursa Malaysia Securities Berhad that OIB has been
informed that JCUKL was dissolved on June 14, 2005.

JCUKL is a wholly owned subsidiary of OIB.

CONTACT:

Olympia Industries Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Phone: +60 3 2070 0033
Fax:   +60 3 2070 0011


PAN MALAYSIA: Buys Back 250,000 Ordinary Shares
-----------------------------------------------
Pan Malaysia Corp. Berhad issued to Bursa Malaysia Securities
Berhad issued a notice of shares buy back with the following
details:

Date of buy back: June 30, 2005

Description of shares purchased:  Ordinary shares of RM0.50 each

Total number of shares purchased (units): 250,000

Minimum price paid for each share purchased (RM): 0.430

Maximum price paid for each share purchased (RM): 0.435

Total consideration paid (RM): 109,216.98

Number of shares purchased retained in treasury (units): 250,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 530,000

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

CONTACT:

Pan Malaysia Holdings Berhad
Jalan P Ramlee
Kuala Lumpur, 50250
Malaysia
Telephone: +60 3 2031 6722
Fax: +60 3 2031 1299


PANGLOBAL BERHAD: Carries Out AGM Resolutions
---------------------------------------------
The Board of Directors advised Bursa Malaysia Securities Berhad
that all the resolutions as per the Notice of 40th AGM dated
June 8, 2005 were duly passed by the shareholders at the 40th
AGM of PanGlobal Berhad held at Meranti Room, Level 22, Menara
PanGlobal, 8, Lorong P. Ramlee, 50250 Kuala Lumpur on June 30,
2005.

This announcement is dated 30 June 2005

CONTACT:

Panglobal Berhad
8 Lorong P Ramlee
Kuala Lumpur, 50250
Malaysia
Phone: +60 3 2031 9199
Fax: +60 3 2032 3977


PANTAI HOLDINGS: Unit Inks MOA with Hyperbaric
----------------------------------------------
The Board of Directors of Pantai Holdings Berhad (PHB) informed
Bursa Malaysia Securities Berhad that Pantai Medical Centre Sdn
Bhd (PMC), a wholly owned subsidiary of PHB, has on June 29,
2005 entered into a Memorandum of Agreement (MOA) with
Hyperbaric Health Pty Ltd (HH), an Australian based supplier of
hyperbaric medicine facilities, for the purpose of establishing
a joint venture to set up a comprehensive hyperbaric medicine
unit at Pantai Medical Centre in Bangsar, Kuala Lumpur, the
hospital owned by PMC.

A new Company with an authorized capital of Ringgit Malaysia One
Hundred Thousand (MYR100,000.00) (Newco) shall be incorporated
in Malaysia in accordance with the Companies Act, 1965 as the
vehicle for the joint venture. The Newco will eventually have an
issued and paid up capital of Ringgit Malaysia Sixty Thousand
(MYR60,000.00) which shall be equally held by PMC and HH.

The joint venture will not have any material impact on the
Group's earnings for financial year ending June 30, 2005.

None of the Directors or substantial shareholders of PHB or
persons connected to them have any interests, direct or
indirect, in the joint venture.

The MOA is not subject to the approval of the shareholders of
the PHB or any authorities.

CONTACT:

Pantai Holdings Berhad
8 Jalan Damansara Endah
Damansara Heights Kuala Lumpur, Malaysia 50490
Malaysia
Phone: +60 3 2713 2282
Fax: +60 3 2094 4528


PICA (M) CORPORATION: SC Rejects Revised Proposal Petition
----------------------------------------------------------
The Board of Directors of Pica (M) Corporation Berhad made the
following announcement to Bursa Malaysia Securities Berhad for
public release:

Further to the Company's announcement on Practice Note 4, the
Company has on April 11, 2005 retrieved its application on the
Revised Proposal from the Securities Commission which is deemed
cancelled accordingly.

CONTACT:

Pica (M) Corporation Berhad
No 3 Jalan Kia Peng
Kuala Lumpur, 50450
Malaysia
Phone: +60 3 2161 8800
Fax:   +60 3 2161 1714


SAAG CONSOLIDATED: Passes Resolutions Tabled at AGM, EGM
--------------------------------------------------------
The Board of Directors of SAAG Consolidated (M) Bhd advised
Bursa Malaysia Securities Berhad that all resolutions tabled at
the AGM and EGM of the Company as set out in the Notice of the
AGM dated June 8, 2005 and Notice of EGM dated June 15, 2005
respectively, were duly passed.

In respect of Ordinary Resolution 6 tabled at the AGM, Item
5(ii) as set out in the Notice of AGM dated June 8, 2005 was
duly passed.

This announcement is dated 30 June 2005.

CONTACT:

SAAG Consolidated (M) Berhad
Level 14, Uptown 1
No. 1, Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Malaysia
Phone: 03-77252888
Fax: 03-77257791
Web site: http://www.saag.com


UNITED CHEMICAL: Reappoints Directors
-------------------------------------
The Board of Directors of United Chemical Industries Berhad
informed Bursa Malaysia Securities Berhad that the members have
approved all the following resolutions tabled at the Company's
41st Annual General Meeting held at the Convention Hall, 4th
Floor, Wisma Wan Mohamed, Jalan Panglima Bukit Gantang Wahab,
30000 Ipoh, Perak Darul Ridzuan on Thursday, June 30, 2005 at
12:00p.m.:

(1) To receive and adopt the Audited Financial Statements for
the year ended December 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 Article 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)


WEMBLEY INDUSTRIES: Passes All Resolutions Set Out in Notice
------------------------------------------------------------
Wembley Industries Holdings Berhad informed Bursa Malaysia
Securities Berhad that all the resolutions as per the Notice of
the Twenty-Ninth Annual General Meeting (AGM) dated June 8, 2005
were duly passed at the AGM of the Company held at Ballroom III,
Santubong Kuching Resort, Jalan Santubong, 93748 Kuching,
Sarawak, on Thursday, June 30, 2005 at 9:00 a.m.

CONTACT:

Wembley Industries Holdings Berhad
No 1 Jalan Pandungan
Kuching, Sarawak 93100
Malaysia
Phone: +60 82 236920
Fax:   +60 82 236922


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

COLLEGE ASSURANCE: SEC Poised to Take Over Management
-----------------------------------------------------
The corporate regulator has finally heeded the call of an
oversight committee and agreed to take over the management of
ailing College Assurance Plans (Philippines) Inc. (CAP), The
Manila Standard reports.

The Securities and Exchange Commission (SEC) confirmed it has
accepted the recommendation of the oversight committee, but
ordered the committee to gather additional data before the
commission carries out the take over.

Under the takeover plan, the commission will form a management
committee that will take over the business operations of CAP.
The committee will also determine how best to operate the
Company by balancing the interest of its shareholders and
planholders.

The SEC has yet to determine the composition of the management
committee.

The SEC' decision to put CAP under its care was reportedly
prompted by the pre-need firm's failure to find a new investor
who is willing to inject much-needed capital into the Company.

Last month, CAP said it was expecting European investor
International Global Holdings Inc. (IGHI) to provide a capital
infusion of US$100 million, which will be used to pay tuition
obligations.

But until now, CAP has not presented any proof that IGHI had
indeed made the investment.

CONTACT:

College Assurance Plans Philippines Inc.
CAP I Building
126 Amorsolo cor. Herrera Streets
Legazpi Ville, Makati City
Malaysia
Phone: 817-6586, 759-2000
Fax: (0632) 818-0560


LEPANTO CONSOLIDATED: Gov't Urges Miners to Return to Work
----------------------------------------------------------
Mountain Province Governor Maximo Dalog has called workers of
Lepanto Consolidated Mining Corporation to honor a return-to-
work order issued by the labor department, reveals SunStar
Daily.

Gov. Dalog is concerned that the labor dispute between Lepanto's
management and the employees union has been detrimental to both
parties. The governor explained the row has not only resulted to
loss of income for the workers, but also the loss of production
for the Lepanto.

On June 2, around 1,600 Lepanto mine workers staged a strike due
to a deadlock in a collective bargaining agreement with the
Company.

On June 8, Labor Secretary directed the striking employees to go
back to work. Union members, however, defied the order and
reiterated their demand for a daily wage hike.

On June 15, the Dole issued another order granting workers
graduated increases amounting to Php25, Php27 and Php29 daily
per year for the next three years.

But the union remained on strike. They instead asked Lepanto to
execute a memorandum to withdraw the dismissal order it issued
to around 75 officials and members of the union.

The mining firm however remains firm up to the present in its
decision not to readmit dismissed workers, saying the stubborn
workers should face consequences of their actions.

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


MAYNILAD WATER: Japanese Firm to Asses Facilities
-------------------------------------------------
A Japanese firm will assist its local partner DMCI Holdings Inc.
in its due diligence of Maynilad Water Services Inc., according
to Today News.

Marubeni Corp. will send representatives to Manila to help DMCI
appraise the assets of ailing water concessionaire Maynilad.

DMCI is one of the several firms interested to acquire Lopez-led
Maynilad, which controls the west concession of the Metropolitan
Waterworks and Sewerage System (MWSS). DMCI has reportedly
tapped the Australian firm Macquarie Group as financial adviser
of the proposed acquisition.

The control of cash-strapped Maynilad is now up for grabs after
the water utility firm suffered financial difficulties.

Maynilad applied a petition for corporate rehabilitation in 2003
after it failed to pay off huge debts, Php10 billion of which
was owed to the MWSS in concession fees.

The rehabilitation plan was granted approval by a local court a
few months ago, paving the way for the return of the west
concession to the state-backed MWSS.

But the government decided to let go of Maynilad and opted to
turn it over to an interested private operator.

CONTACT:

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


MAYNILAD WATER: Clients Seek Rehab Halt
---------------------------------------
Maynilad Water Services Inc.'s customers, along with three
lawmakers, want the Supreme Court to suspend the implementation
of the water firm's rehabilitation scheme, according to
BusinessWorld.

Maynilad clients and party-list representatives Loretta Ann P.
Rosales, Emmanuel Joel J. Villanueva, and Del R. de Guzman filed
the 28-page petition last week.

The petitioners claim Maynilad's court-approved restructuring is
unlawful and "contrary to public policy". They also claim that
the 52-percent increase in Maynilad's water tariff in January,
as approved by state-agency Metropolitan Waterworks and Sewerage
System (MWSS) is illegal since it didn't undergo the required
public notice and hearing.

The petitioners all asked the Court to also compel the water
utility to refund the increase in water tariff it had collected
since January.

According to the petitioners, Maynilad's court-approved
financial rehabilitation program would allow it to cancel its
performance bond issued in favor of MWSS since the water
regulator would become the water concession's majority
shareholder, with an 84-percent interest.

Petitioners claimed that the rehabilitation plan would also
allow Maynilad to evade its service obligations, including
making water service available 24 hours starting 2006, as stated
in the 1997 concession agreement.

The Maynilad customers also alleged that the debt-restructuring
program provided for the use of US$53.67 million in public funds
to "bail out" stockholders and creditors of Maynilad.

The viability of the rehabilitation plan, the petitioners added,
is based on the 52-percent increase in water tariff, which took
effect on January 1, 2005 following the issuance of a resolution
on it by the MWSS Board of Trustees last December 2004.


METRO PACIFIC: Postpones AGM to August 12
-----------------------------------------
Due to a financial reporting delay from certain subsidiaries,
Metro Pacific Corporation (the Company) is unable to complete
its consolidated financial reports in time for previously
scheduled July 8, 2005 stockholders' Annual General Meeting
(AGM).

Therefore, the Company has scheduled a new date for its 2004 AGM
to occur on August 12, 2005 at the Ballroom A, 3rd Level, Psalms
Country Club, 1410 Laguna Heights Drive, Filinvest Corporate
City, Alabang, Muntinlupa City.

Record date for the AGM remains at March 31, 2005.

CONTACT:

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


NATIONAL BANK: Denies Providing Info About Joint Sale Terms
-----------------------------------------------------------
The Philippine National Bank (PNB) issued this announcement in
reference to the news article entitled "Tan sets terms for PNB
joint sale" published in the July 1, 2005 issue of the Manila
Standard Today.

The article reported in part that:

"Taipan Lucio tan sought two conditions for him to agree to
extend the joint sale agreement of Philippine National Bank
(PNB) which he signed with government in 2002 and which expires
in September, banking sources said.

"A PNB insider said extending the joint sale agreement would
have gone hand in hand with extending Tan's warrants and was
probably one of the conditions the taipan sought. Privatization
officials declined to give details on the conditions that Tan
sought.

"'We rejected his conditions,' a source from the Philippine
Deposit Insurance Corp. (PDIC) said. 'It was something that
could put government at a disadvantage and we felt it is
something we can do without.'"

The Philippine National bank (PNB), in a letter to the Exchange
dated July 1, 2005, stated that:

"Please be advised that our office was not the source of
information which was the basis for the article, hence, w cannot
make a comment, or provide any useful information."

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

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


NATIONAL POWER: Ayala Group Keen on Assets
------------------------------------------
Ayala Group is looking to acquire National Power Corporation's
assets set for privatization, as part of efforts to venture into
the power business, The Philippine Star reports.

The country's largest conglomerate, however, would be competing
for Napocor's assets including 41 power facilities being
divested to pare the country's Php3.87-trillion (US$70 billion)
debt.

Ayala Group's interest in the power sector has remained firm
despite recent news that the nation's largest power retailer
Manila Electric Co. forecast a third year of losses and the sale
of a power plant canceled because of a lack of guaranteed
customers.

In Nov. 2002, Ayala Corp. head Jaime Augusto Zobel de Ayala II
said he wasn't interested in buying power plants or transmission
lines. This month though, Mr. Zobel said the Company now has the
capacity to enter a new industry.

Ayala's market value has doubled since Zobel ruled out energy
investments three years ago. Cash has tripled to Php35 billion,
while 2004 profit reached a record Php7 billion.

That leaves the Company well placed to consider new industries,
said Mr. Zobel, whose past acquisitions include three banks.

CONTACT:

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


PACIFIC PLANS: Absorbs Affiliate Pending Rehab Program
------------------------------------------------------
Embattled Pacific Plans Inc. has finally agreed to fold back its
Yuchengco Group sister firm, Lifetime Plans Inc., according to
The Manila Standard.

Pacific Plans moved to address the "floating status" of Lifetime
Plans after the corporate regulator rejected the latter's appeal
for rehabilitation.

But according to a source at the Securities and Exchange
Commission (SEC), Pacific's absorption of Lifetime is just a
temporary measure pending its petition for rehabilitation with
the Makati Regional Trial Court.

Last week, the SEC denied Pacific's appeal to lift the order
revoking the Lifetime's certificate of registration since
Lifetime was not able to meet the requirements set in the
approval of the registration. The SEC's Company Registration and
Monitoring Department deemed insufficient Lifetime's
submissions.

Without the certificate of registration, Lifetime Plans is
considered nonexistent. Pacific Plans last year spun off its
earning businesses like fixed education plans, pension plans and
life plans to Lifetime Plans, and kept the troubled traditional
education plans.

CONTACT:

PACIFIC PLANS, INC.
2nd Flr., Grepalife Bldg,
221 Sen. Gil Puyat Ave.
Makati City
E-mail: bizialcita@grepa.com


PICOP RESOURCES: Earmarks Php500 Mln in Capital Outlay
------------------------------------------------------
PIBOP Resources has allocated around Php500 million for capital
expenditures this year, BusinessWorld reports.

The fresh funds will be used to finance the 30-megawatt power
plant project, which will supply the power and steam needs of
New Paper Industries Corp. pulp and paper mill.

The Php400-million project will be implemented by a leasing
Company, which will be compensated using power cost saving of
New Paper Industries from its cogen project.

PICOP has also set aside Php100 million for major capital
projects, which are currently in progress.

PICOP is the only integrated forest and paper Company in the
country. Its forest concession covers about 200,000 hectares in
Northeastern Mindanao under a sustainable and expanding yield
basis. It is a multi-billion peso wood-based industrial complex
operating one of the largest, fully integrated timber, pulp and
paper mills in Southeast Asia.

CONTACT:

Picop Resources
2/F, Moredel Building
2280 Pasong Tamo Extension, Makati City
Phone:  813-2081/5308/5309
Fax No/s:  893-7195
E-mail Address:  srmo@i-next.net
Web site:  http://www.srmo-law.com


* 10 Pre-need Firms on SEC Watch List
-------------------------------------
Some 10 pre-need providers that offered open-ended educational
plans are being closely monitored by the Securities and Exchange
Commission (SEC) due to alleged liquidity issues, says The
Philippine Star.

Aside from Pacific Plans Inc. and College Assurance Plans, other
pre-need firms on the SEC's watch list are Platinum Plans, TPG
Corp., Prudential Life Plans, PET Plans, Eternal Plans, Eduplan
Phils., Legacy Consolidated Plans, Pryce Plans, Trusteeship
Plans, and Scholarship Plan Phils.

These pre-need firms offered a total of 796,263 open-ended plans
worth Php30.037 billion. When combined, the actuarial reserve
liabilities (ARL) of these companies amounted to Php32.76
billion of which CAP accounted for Php23.25 billion.

A measure of how healthy a pre-need Company is whether its trust
fund is equal to or exceeds the ARL. The trust fund is the pool
of premium payments from planholders that had been invested.

Recently, the SEC has been flocked with complaints against
Platinum plans for delayed or non-payment of obligations to
planholders. There were also reports that Platinum Plans has
been unpunctual in paying its employees.

Following the collapse of Pacific Plans, the SEC has stepped up
its monitoring over pre-need plan firms to ensure their
compliance with existing regulations.

For one, the SEC will conduct on-site audits on pre-need
companies to confirm the veracity of financial information
submitted to the corporate watchdog agency as part of additional
measures to safeguard the interest of the investing public.

Some lawmakers, however, are blaming the SEC for being remiss in
its duty to monitor and supervise the industry, now plagued with
controversies arising from the financial difficulties facing
pre-need firms.

Nevertheless, the SEC said it remains committed to protecting
the interest of investors.

The number of pre-need firms licensed by the SEC to sell
securities to the public dropped to 33 from 42 last year.

Among the companies that are not licensed to sell pre-need plans
are Platinum Plans Inc., Celestial Memorial Plans, East Asia
Plans, FCM Plans Inc., Garden of Memories Memorial Plans,
Gillamac Life & Pension Plans, Pension & Retirement Plans Corp.,
Samson Memorial Plans, and Special Plans.


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

BOUSTEAD SINGAPORE: Investment in Indonesian Water Firm Approved
----------------------------------------------------------------
Boustead Singapore Limited announced that the Ministry of
Justice approved the Company's proposed 51% equity investment in
Indonesian firm PT Citra Tirta Mataram.

PT Citra Tirta Mataram supplies clean water to Yogyakarta
province in Indonesia, with an authorized and issued share
capital of IDR110.4 billion divided into 110,400 shares of IDR1
million each.

Boustead Singapore's 51% equity interest in Citra's share
capital amounts to 56,304 shares of IDR1 million each, arriving
at a total of IDR56.304 billion.

The transaction is not expected to affect the Company's earnings
per share or net asset value per share for the financial year
ending March 31, 2006.

CONTACT:

Boustead Singapore Limited
63 Ubi Avenue 1 #06-01
Boustead House
Singapore 408937
Phone: 65 67470016
Fax:   65 67418689
Web site: http://www.bousteadco.com


HOTEL PROPERTIES: Founder, Chairman Dies at 82
----------------------------------------------
Hotel Properties Limited announced the passing of its chairman
and founder, Mr. Peter Fu Yun Siak, 82, on July 2, 2005.

Mr. Fu Yun Siak served as Chairman of the Company since 1980,
and was a member of the Company's nominating committee from Nov.
1, 2002.

The Company acknowledged the invaluable contribution of Mr. Fu
Yun Siak to Hotel Properties Limited's group of companies.

CONTACT:

Hotel Properties Limited
50 Cuscaden Road
08-01 HPL House
Singapore 249724
Phone: +65 6734 5250
Fax:   +65 6732 0347
Email:    contactus@hotelprop.com
Web site: http://www.hotelprop.com


INFORMATICS HOLDINGS: Malaysian Unit Sells Off Subsidiary
---------------------------------------------------------
Informatics Holdings Limited announced that on May 24, 2005, its
wholly owned Malaysian subsidiary Informatics Computer Center
Sdn Berhad entered into an agreement to sell its entire
shareholder interest (1,600,000 shares) in unit Lambang Saga Sdn
Berhad to Heritage Hallmark Sdn Berhad for MYR3.35 million.

The disposal was completed last May 31, 2005.

For further information on the disposal, go to:

http://bankrupt.com/misc/tcrap_informatics070505.pdf

CONTACT:

Informatics Holdings Limited
Informatics Campus
12 Science Centre Road
Singapore 609080
Phone: 65 65625625
Fax:   65 65651371
Web site: http://www.informaticsgroup.com


JAYA HOLDINGS: Dissolves Three Subsidiaries
-------------------------------------------
Jaya Holdings Limited announced that the following subsidiaries
have been struck-off the Register of Companies pursuant to
Section 344 of the Companies Act, Cap. 50:

1) Jaya Energy Pte Ltd
2) Jaya Far East Power Projects Pte Ltd
3) Jaya Hasko Shipping (S) Pte Ltd

By Order of the Board

Caroline Yeo Poh Noi
Company Secretary
July 1, 2005

CONTACT:

Jaya Holdings Limited
13 Tuas Crescent
Singapore 638707
Phone: (65)6265 1010
Fax:   (65) 6864 5555
Email: jaya@jayaholdings.com
Web site: http://www.jayaholdings.com


LEGATO SOFTWARE: Creditors Asked to Submit Debt Claims
------------------------------------------------------
Notice is hereby given that the creditors of Legato Software
Systems Pte Limited, which is being wound up voluntarily, are
required on or before July 28, 2005 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned, the Liquidators of the said Company.

If so required by notice in writing by the said Liquidators,
they are, by their solicitors or personally, to come in and
prove their debts or claims at such time and place as shall be
specified in such notice. Failure to do so will exclude
creditors from the benefit of any distribution made before such
debts are proved.

Dated this 28th day of June 2005

Chee Yoh Chuang
Lim Lee Meng
Liquidators
18 Cross Street
#08-01 Marsh & McLennan Center
Singapore 048423


RICHCOM TECHNOLOGY: Creditor Seeks Winding Up in Court
------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Richcom Technology (Singapore) Pte Limited by the Singapore High
Court was presented by creditor EC-Asia International Limited of
47 Hill Street, #06-02 Singapore Chinese Chamber of Commerce &
Industrial Building, Singapore 179365 on June 16, 2005.

The said Petition is to be heard before the Court sitting at the
High Court in Singapore on Friday, July 8, 2005 at 10:00 a.m.

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

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

The Petitioners' address is at 47 Hill Street, #06-02 Singapore
Chinese Chamber of Commerce & Industrial Building, Singapore
179365.

The Petitioner's solicitor is Dominion LLC of 200 Cantonment
Road, #14-03 Southpoint, Singapore 089763.

Dated this 22nd day of June 2005
Dominion LLC
Solicitor for the Petitioners

CONTACT:

Richcom Technology (S) Pte Limited
1 Rochor Canal Road
#03-30/31/32
Sim Lim Square
Singapore 188504
Phone: (65) 6338 0190
Fax:   (65) 6338 0191
Email:    richcom@pacific.net.sg
Web site: http://www.richcomtech.com/

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to solicitor Dominion LLC, 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
solicitor not later than 12:00 p.m. of July 7, 2005 (the day
before the date appointed for the hearing of the Petition).


S-128 IMPORT: Intends to Pay Preferential Dividend
--------------------------------------------------
S-128 Import & Export Pte Ltd., formerly of 19 Wholesale Center
#01-128 Pasir Panjang, Singapore 110019, posted a notice of
intended dividend at the Government Gazette, Electronic Edition
with the following details:

Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 206 of 1998
Last Day for Receiving Proofs: July 8, 2005
Name & Address of Liquidators: The Official Receiver
The URA Center (East Wing)
45 Maxwell Road #06-11
Singapore 069118
Sunari Bin Kateni
Assistant Official Receiver


SUMMIT MERCHANTS: To Convene Final Meeting July 31
--------------------------------------------------
Notice is hereby given that pursuant to section 308 of the
Companies Act, Chapter 50, the Final Meeting of Members of
Summit Merchants Pte Limited will be held at the office of 98A
Amoy Street, Singapore 069918 on July 31, 2005 at 10:30/11:00
a.m., for the following purpose:

(1) To receive the Liquidators' Statement of Accounts showing
the manner in which the winding up has been conducted and the
assets of the Company disposed off, and of hearing any
explanation that may be given by the Liquidators.

(2) To determine by ordinary resolution the manner in which the
books, accounts and documents of the Company and of the
Liquidators shall be disposed of.

Dated this 1st day of July 2005
Lim Yeong Seng
Liquidator
98A Amoy Street
Singapore 069918

Note:

Any member entitled to attend and vote at this meeting is
entitled to appoint a proxy to attend and vote in his stead. The
proxy need not be a member of the Company.


SWISSCO PTE: Issues Intended Dividend Notice
--------------------------------------------
Swissco Pte Ltd., formerly of 3 Shenton Way, #21-08 Shenton
House, Singapore 068805 posted a notice of intended dividend at
the Government Gazette, Electronic Edition with the following
details:

Court: Supreme Court, Singapore
Number of Matter : Companies Winding Up No. 249 of 1996
Last Day for Receiving Proofs: July 8, 2005
Name & Address of Liquidators: The Official Receiver
The URA Center (East Wing)
45 Maxwell Road #06-11
Singapore 069118
Sunari Bin Kateni
Assistant Official Receiver


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

ADVANCE PAINT: Unveils Result of Warrant Exercise
-------------------------------------------------
Advance Paint & Chemical (Thailand) Public Co. Ltd. informed the
Stock Exchange of Thailand (SET) that it has issued 83,726,504
warrants for right offering to existing shareholders whose names
appeared in the Shareholders Registered Book as of December 27,
2002.

The warrants can be exercised every quarter starting from
December 31, 2003 at the exercise ratio 1 warrant:1 common
share.

Thus, Advance Paint & Chemical (Thailand) Public Co. Ltd. issued
a report on the result of exercise of the warrant holders on
June 30, 2005:

As of June 30, 2005
Beginning Balance of Warrants   62,742,954 Units

Less Exercised Warrants to be common shares   0     Units

Ending Balance of Warrants            62,742,954      Units

Please be informed accordingly.

Yours faithfully,
Mrs. Narumol Punnakitikashem
Executive Director

CONTACT:

Advance Paint & Chemical (Thailand) Pcl
344 Moo 2, Bang Pa-In Industrial Estate,
Bang Pa-In Ayutthya
Telephone: 0-3522-1140, 0-2541-5374-8
Fax: 0-3526-1871


EASTERN WIRE: CFO Steps Down
----------------------------
Eastern Wire Public Company Limited (the Company) notified the
Stock Exchange of Thailand (SET) that Mr. Paiboon Udomkatrrnkit
has resigned as Chief Financial Officer and Executive Director
of the Company. The resignation will be effective on July 1,
2005 and our Company is looking for a suitable replacement of
such position.

Please be informed accordingly,

Best regards,
Mr. Sontaya Noicharoen
Chief Operation Officer

CONTACT:

Eastern Wire Pcl
Rasa Tower, Room 1201-1203,
555 Phaholyothin Road,
Chatu Chak Bangkok
Telephone: 0-2937-0058-66
Fax: 0-2937-0067


JASMINE INTERNATIONAL: Hikes Paid-Up Capital to THB8,319,877,163
----------------------------------------------------------------
Jasmine International Public Company Limited informed the Stock
Exchange of Thailand (SET) that the resolution of the Board of
directors' meeting of Changwatana Planner Co. Ltd. as the Plan
Administrator of Jasmine International Public Company Limited
held on September 25, 2003 approved the issuance and offer
warrants (JAS-W2) at the number of 551,970,477 units to purchase
new shares to the existing shareholders, whose names appear on
the registration book at the closing date on October 20, 2003.

After that the Board of directors' meeting of the Plan
Administrator No. 19/2003 held on December 24, 2003 passed the
resolution to proceed changing the par value of shares of the
Company (par split) from the par value of THB10. (Ten Baht) per
share to be THB1 (One Baht) per share, so the number of JAS-W2
was increased to 5,519,704,770 units.

The holders of JAS-W2 can exercise his/her right to purchase the
Company's common shares every three months during 8:30 a.m. to
3:30 p.m. every 30th of March, June, September and December of
each year through the maturity date.

The exercise date this time is on June 30, 2005, the holders of
JAS-W2 can notify their intention to exercise during June 16 to
29, 2005 at the ratio of 1 right warrant into 1 common share at
THB0.50 per share.  The Company issued to the SET a report on
the results of warrant conversion to common shares:

No. of warrant holders   No. of warrants   No. of common shares

1. Thai national      - Person     - Units             - Shares

2. Foreign national   1 Person   200,000 Units  200,000 Shares

Total       1 Person          200,000 Units       200,000 Shares

After this conversion, there are 5,035,417,950 remaining
warrants and the Company will have a paid-up capital as a result
of the warrant conversion from the previous THB8,319,677,163 to
THB8,319,877,163.

Please be informed accordingly.

Authorized director
Mr. Somboon Patcharasopak
Chaengwatana Planner Co., Ltd., Plan Administrator of
Jasmine International Public Company Limited

CONTACT:

Jasmine International Public Company Limited
200 Fl. 30, Moo 4, Chaengwatthana Rd.,
Pak Kret, Nonthaburi
Telephone: 0-2502-3000-7
Fax: 0-2502-3150-2
Web site: http://www.jasmine.co.th


NFC FERTILIZER: To Recruit New Chief Operation Officer
------------------------------------------------------
The NFC Fertilizer Public Company Limited informed the Stock
Exchange of Thailand (SET) that Mr. Songchai Anunantakul has
resigned from his position as Chief Operation Officer and the
director of Company. The resignation will be effective from July
1, 2005.

The Board of Director will then go through recruitment process
to appoint the replacement of director, which will be informed
accordingly.

Yours Sincerely,

NFC Fertilizer Public Company Limited
Mrs. Bongkot Rasmeepaisarn
Vice President
Office of Chief Executive Officer

CONTACT:

NFC Fertilizer Pcl
Laopengnguan Bldg 1, Floor 17-19,
333 Vibhavadi Rangsit Road, Chatu Chak, Bangkok
Telephone: 0-2618-8100
Fax: 0-2618-8200
Web site: http://www.nfc.co.th


PAE THAILAND: Changes EGM Venue
-------------------------------
PAE (Thailand) Public Company Limited advised the Stock Exchange
of Thailand (SET) that the venue for the Extraordinary
Shareholders Meeting is changed from Radison Hotel, Rama 9 road
to Jamruree Rajawadee room, Novotel Bangna Bangkok Hotel. The
date of the Extraordinary Shareholders Meeting on July 14, 2005
at 10:00 a.m. remains unchanged.

Please be informed accordingly.

Sincerely Yours,
Soradej Choothesa
Director of Finance & Accounting

CONTACT:

PAE (Thailand) Pcl
69 Sinakharin Road, Suan Luang, Bangkok
Telephone: 0-2322-0222
Fax: 0-2322-2970-1
Web site: http://www.pae.co.th


THAI PETROCHEMICAL: CITIC Cleared to Conduct Due Diligence
----------------------------------------------------------
The Central Bankruptcy Court has given CITIC Resources a go
signal to conduct due diligence on Thai Petrochemical Industry
Public Company Limited (TPI), reports Reuters.

The court believes that CITIC exists and would repay TPI's debt.
Earlier this month, CITIC said it was forming a joint venture
with six TPI shareholders, including TPI Holdings Co. Ltd. and
Leophairatana Enterprises Co. Ltd. to buy up to 75 percent of
TPI's issued share capital.  Once the deal is sealed, CITIC
would inject another $1 billion to boost TPI's capacity.

The approval of the CITIC due diligence hindered the government-
appointed administrators' plan to hand control of TPI to a group
of government-affiliated investors, including energy firm PTT
PCL, under a plan to restructure the Company's $2.7 billion
debt.

TPI's debt restructuring plan, which the government hopes to
complete by August 1, won't be affected by the court ruling,
Finance Minister Somkid Jatusripitak said, but delays would be
unavoidable.

Mr. Prachai has battled to gain control of TPI and has filed
more than 40 cases over the years.  The Company collapsed under
a mountain of foreign debt during the Asian economic crisis.

CONTACT:

Thai Petrochemical Industry Pcl
TPI Tower, Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Web site: http://www.tpigroup.co.th



BOND PRICING: For the Week 04 July to 08 July 2005
--------------------------------------------------

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


AUSTRALIA
---------

Advantage Group                      10.000%     4/15/06    1
Ainsworth Game                        8.000%    12/31/09    1
Amcom Telecommunications Ltd         10.000%    10/28/07    2
APN News & Media Ltd                  7.250%    10/31/08    5
A&R Whitcoulls Group                  9.500%    12/15/10    9
Arrow Energy NL                      10.000%     3/31/08    1
Austral Coal                          9.500%    10/01/06    1
BIL Finance Ltd                       8.000%    10/15/07    8
BIL Finance Ltd                       8.750%    10/15/05    9
BIL Finance Ltd                       9.250%    10/15/06    9
Capital Properties NZ Ltd             8.500%     4/15/07    8
Capital Properties NZ Ltd             8.500%     4/15/09    8
CBH Resources                         9.500%    12/16/09    1
Chrome Corporation Ltd               10.000%     2/28/08    1
Djerriwarrh Investments Ltd           6.500%     9/30/09    4
Evans & Tate Ltd                      8.250%    10/29/07    1
Fletcher Building Ltd                 7.550%     3/15/11    8
Fletcher Building Ltd                 7.800%     3/15/09    8
Fletcher Building Ltd                 7.900%    10/31/06    8
Fletcher Building Ltd                 8.300%    10/31/06    8
Fletcher Building Ltd                 8.600%     3/15/08    8
Fletcher Building Ltd                 8.750%     3/15/06    8
Fletcher Building Ltd                 8.850%     3/15/10    8
Fernz Corp Ltd                        8.560%    10/15/06    8
Futuris Corporation Ltd               7.000%    12/31/07    2
GPS Online Ltd                       10.000%     6/30/06    1
Gympie Gold Ltd                       8.500%     9/30/07    1
Hy-Fi Securities Ltd                  7.000%     8/15/08    8
Hy-Fi Securities Ltd                  8.750%     8/15/08   10
Hudson Timber Products Ltd            7.000%    12/31/10    1
Hutchison Telecoms Australia          5.500%     7/12/07    1
Infrastructure & Utilities NZ Ltd     8.500%     9/15/13    8
Infrastructure & Utilities NZ Ltd     8.500%    11/15/15    8
Kagara Zinc Ltd                       9.750%     5/06/07    1
Nuplex Industries Ltd                 9.300%     9/15/07    8
Pacific Print Group Ltd              10.250%    10/15/09   11
Primelife Corporation                 9.500%    12/08/06    1
Primelife Corporation                10.000%     1/31/08    1
Prime Infrastructure                  8.500%     2/28/49    9
Prime Infrastructure                  8.500%    12/31/49    9
Salomon SB Australia                  4.250%     2/01/09    8
Sapphire Securities Ltd               7.410%     9/20/35    7
Sapphire Securities Ltd               9.160%     9/20/35    9
Sapphire Securities Ltd               9.250%    12/20/06    9
Sherlock Bay Nickel                  12.000%     9/01/07    1
Silver Chef Ltd                      10.000%     8/31/08    1
Sky Network Television Ltd            9.300%    10/29/49    8
Software of Excellence                7.000%     8/09/07    1
Strathfield Group                    11.000%    12/31/05    1
Sunshine Gas Company Ltd             12.000%     9/30/06    1
Sydney Gas Company                   12.000%     4/01/06    1
Tower Finance Ltd                     8.650%    10/15/09    8
Tower Finance Ltd                     8.750%    10/15/07    8
TrustPower Ltd                        8.300%     9/15/07    8
TrustPower Ltd                        8.300%    12/15/08    8
TrustPower Ltd                        8.500%     9/15/12    8
TrustPower Ltd                        8.500%     3/15/14    8
Urbus Properties Ltd                  9.250%     3/10/07    1
Vision Systems Ltd                    9.000%    12/15/08    2

MALAYSIA
--------

Aliran Ihsan Resources Bhd             5.000%     11/29/11    1
Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/06/07    1
Berjaya Group Bhd                      5.000%     10/17/09    1
Berjaya Land Bhd                       5.000%     12/30/09    1
Berjaya Sports Toto Bhd                8.000%      8/04/12    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Crest Builder Holdings Bhd             7.000%      2/24/06    1
Dataprep Holdings Bhd                  4.000%      8/05/05    1
Dataprep Holdings Bhd                  4.000%      8/06/07    1
Denko Industrial Corporation Bhd       5.000%      3/15/07    1
Eden Enterprises (M) Bhd               2.500%     12/02/07    1
EG Industries Bhd                      5.000%      6/16/10    1
Fountain View Development Sdn Bhd      3.500%     11/03/06    1
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Greatpac Holdings Bhd                  2.000%     12/11/08    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    1
Huat Lai Resources Bhd                 5.000%      3/28/10    1
I-Berhad                               5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Kamdar Group Bhd                       3.000      11/09/09    1
Killinghall Bhd                        5.000%      4/13/09    1
Kosmo Technology Industrial Bhd        2.000%      6/23/08    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Jetson                        5.000%     11/27/12    1
LBS Bina Group Bhd                     4.000%     12/29/06    1
LBS Bina Group Bhd                     4.000%     12/31/07    1
LBS Bina Group Bhd                     4.000%     12/31/08    1
LBS Bina Group Bhd                     4.000%     12/31/09    1
Lebar Daun Bhd                         2.000%      1/06/07    5
Lion Diversified Holdings Bhd          2.000%      6/01/09    1
Media Prima Bhd                        2.000%      7/18/08    1
Mithril Bhd                            3.000%      4/05/12    1
Mithril Bhd                            8.000%      4/05/09    1
Mutiara Goodyear Development Bhd       2.500%      1/15/07    1
Naim Indah Corporation Bhd             0.500%      8/24/06    1
Nam Fatt Corporation Bhd               2.000%      6/24/11    1
Pantai Holdings Bhd                    5.000%      3/28/07    1
Pantai Holdings Bhd                    5.000%      7/31/07    1
Patimas Computers Bhd                  6.000%      2/19/06    1
Poh Kong Holdings Bhd                  3.000%      1/20/07    1
Prinsiptek Corporation Bhd             2.000%     11/20/06    1
Puncak Niaga Holdings Bhd              2.500%     11/18/16    1
Ramunia Holdings                       1.000%     12/20/07    1
Rashid Hussain Bhd                     0.500%     12/24/12    1
Rashid Hussain Bhd                     2.652%      6/30/07   75
Rashid Hussain Bhd                     3.000%     12/24/12    1
Rhythm Consolidated Bhd                5.000%     12/17/08    1
Silver Bird Group Bhd                  1.000%      2/15/09    1
Southern Steel                         5.500%      7/31/08    2
Tanah Emas Corporation Bhd             2.000%     12/09/06    1
Talam Corporation Bhd                  7.000%      7/19/05    1
Talam Corporation Bhd                  7.000%      4/19/06    1
Tap Resources Bhd                      2.000%      6/29/06    1
Tenaga Nasional Bhd                    3.050%      5/10/09    1
Time Engineering Bhd                   2.000%     12/25/05    1
VTI Vintage Bhd                        4.000%      8/22/06    1
WCT Land Bhd                           3.000%      8/02/09    1
Wah Seong Corp                         3.000%      5/21/12    3


SINGAPORE
---------

Sengkang Mall                          8.000%     11/20/12    1
Structural System Singapore           11.000%      6/30/07    1
Tampines Assets Ltd                    5.625%     12/07/06    1
Tincel Properties (Private) Ltd        5.000%      6/13/11    1
Tincel Properties (Private) Ltd        7.400%      6/13/11    1










                            *********


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

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

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

This material is copyrighted and any commercial use, resale or
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                 *** End of Transmission ***