TCRAP_Public/050712.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Tuesday, July 12, 2005, Vol. 8, No. 136

                            Headlines

A U S T R A L I A

ARGYLE TAVERN: Members, Creditors Hold Final Meeting July 20
AUSTRALASIAN BUMPER: Receiver Quits Post
AUSTRAL COAL: Centennial Clarifies Incorrect Reports
AUSTRALIAN SUPERANNUATION: Members Opt for Voluntary Liquidation
BEACONSFIELD GOLD: Insurer Settles Arbitration Award

BEECHER MANAGEMENT: Schedules Final Meeting of Members
BONLAC FOODS: Interest Payment of Unsecured Notes Due December
COMDEK: Settlement Deals Provide Short Relief
COMPUSULTANTS PTY: Creditors Confirm Liquidator's Appointment
GENOA RESOURCES: To Declare Dividend July 15

HEALTH ESTEEM: Names Officials Liquidators
INTERNATIONAL WINE: New Boss Set to Put Firm Back on Track
JAMES HARDIE: Disposes of Chilean Business for US$15.8 Mln
LEGENDS PUBLISHING: Creditors OK Liquidator's Appointment
LIBAN NET: ASIC Restrains Car Insurance Providers

MOSS VALE: To Distribute First, Final Dividend
OAKLEIGH HOLDINGS: To Declare Dividend Next Month
OMEGA RESOURCES: Creditors, Members Schedule Final Meeting
PROFESSIONAL UNIFORMS: M.J. Orders Ceases to Act as Receiver
QANTAS AIRWAYS: Budget Affiliate Ends Merger Talks with Valuair

QUINN TECHONOLGY: Court Orders Wind Up of Operations
REINER PTY: Final Meeting for Members, Creditors Fixed July 20
ROMANZA GROUP: Provides Enforceable Undertaking to ASIC
R.R & A.E OSTERFIELD: Appoints Official Liquidator
TEKMAN INVESTMENTS: Members Pass Winding Up Resolution

TULLAMARINE COLLISION: Members Agree to Wind Up Operations
TYPO PTY: Inability to Pay Debt Prompts Wind-up Action
VITAL LINK: Members to Hear Liquidator's Report
WAVEMASTER INTERNATIONAL: Embroiled in AU$12-Mln Legal Battle
ZARNDAY PTY: Liquidator Details Agenda of Final Meeting


C H I N A  &  H O N G  K O N G

ANGEL COMPANY: Begins Bankruptcy Proceedings
BCV INVESTMENT: Issues Debt Claim Notice
C.C.G. ASIA: Creditors Meeting Slated for July 19
CHI SHING: Court Rescinds Bankruptcy Order
GEEWING COMPANY: Sets Creditors, Contributories Meeting July 19

GOLDEN CRYSTAL: Creditors Meeting Fixed July 28
GUANGDONG KELON: Three Directors Set to Resign
INDUSTRIAL AND COMMERCIAL: Poised to Offer CNY100-Bln Bonds
INDUSTRIAL AND COMMERCIAL: Foreign Firms Eye US$1-Bln Stake
NARDU COMPANY: Court Releases Wind Up Order

PAKTANK ASIA: Creditors Asked to Prove Debts by August 8
PCCW LIMITED: To Repay Sunday Unit's Debt
TIN LI: Court to Hear Wind-up Petition August 3
UNIK COMPANY: Commences Bankruptcy Proceedings


I N D O N E S I A

BANK BUMIPUTERA: Pefindo Affirms BBB- Bond Rating
MERPATI NUSANTARA: Government Opts for a Restructure
PERTAMINA: Signs Contracts to Supply More Gas
TELEKOMUNIKASI INDONESIA: May Opt for NYSE Delisting


J A P A N

HITACHI LIMITED: Nomura Seeks Out-of-court Settlement
MITSUBISHI MOTORS: To Sign SUV Deal Monday
RESONA HOLDINGS: To Bolster Core Capital
SANYO ELECTRIC: S&P Assigns Credit Lease Receivables 'AAA'
SANYO ELECTRIC: Honeywell Grants Licenses for LCD Patent

SOJITZ HOLDINGS: Unit Participates in Takeover Bid
TOSHIBA CORPORATION: Investigates Building Fire
VICTORIA INC.: METI OKs Business Restructuring Scheme


K O R E A

ASIANA AIRLINES: To Commence Cebu Flight Despite RP Crisis
JINRO LIMITED: FTC's Meeting Will Decide Fate of Hite Merger


M A L A Y S I A

AKTIF LIFESTYLE: Reconciles Deviation of Financial Results
AMTEL HOLDINGS: Wraps Up Viva World Acquisition
ANCOM BERHAD: Purchases 104,500 Shares on Buy Back
BELL & ORDER: Awaits SC's Approval of Scheme
BOUSTEAD HOLDINGS: Purchases PSCI Shares to Boost Stake

CONSOLIDATED FARMS: AGM Slated for July 29
DATAPREP HOLDINGS: ICULS Matures August 5
HAP SENG: Repurchases 2,000 Ordinary Shares
HONG LEONG: Notes Ordinary Shares Buyback
LANKHORST BERHAD: Updates on Unit's Wind Up Petition

MAXIS COMMUNICATIONS: Bourse to List Additional Shares
MERCES HOLDINGS: Payment Default Status Unchanged
MTD CAPITAL: Purchases 69,500 Shares on Buy Back
NORTHERN UTILITY: Tenaga Nasional Concludes Acquisition
PANTAI HOLDINGS: Repurchases 159,000 Ordinary Shares


P H I L I P P I N E S

DMCI HOLDINGS: Turns Over Condo Project
NATIONAL FOOD: Wants to Reassess Grains Procurement Policy
NATIONAL POWER: ERC OKs New Subsidized Rates for NPC-SPUG Areas
NATIONAL POWER: PSALM Bags Financing Deal from ADB
NATIONAL TRANSMISSION: Completes Cebu-Leyte Project

PLATINUM PLANS: To Shift Into Marketing Ops
PLATINUM PLANS: Watchdog Moves to Review Obligations
PLATINUM PLANS: SEC Mulls Charges Against Management
* Fitch Revises RP's Rating Outlook to Negative From Stable


S I N G A P O R E

ADVANCED ELASTOMER: Creditors Must Submit Proofs of Claim Aug. 8
HUA KOK: Invests in Hong Kong, Singapore Firms
INFORMATICS HOLDINGS: Revises Net Loss, Shareholders' Deficit
IPC CORPORATION: Says New Investment Will Not Affect Earnings
REGION AIR: Intends to Pay Dividend This Month

WANT WANT: Incorporates Chinese Subsidiaries
YONGNAM HOLDINGS: Selects New Chief Financial Officer


T H A I L A N D

DATAMAT: Welcomes New Co-CEO
PACIFIC ASSETS: Postpones EGM to Augusts 8
TANAYONG: Reduces Unpaid Share Capital
* S&P Revises Finance Groups' Ratings on Strong Fundamentals
BOND PRICING: For the Week 11 July to 15 July 2005

     -  -  -  -  -  -  -  -

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

ARGYLE TAVERN: Members, Creditors Hold Final Meeting July 20
------------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that a final meeting of the members and
creditors of Argyle Tavern Center Pty Limited will be held at
Suite 67, Level 14/88 Pitt Street, Sydney NSW 2000 on Wednesday,
July 20, 2005, 12:00 p.m.

The purpose of the meeting is to lay before the members and
creditors an account for the manner in which the winding up has
been conducted and the property of the Company disposed of, and
of hearing any explanations that may be given by the Liquidator.

Proxies to be used at the meeting must be lodged with the
Liquidator no later than 4.00 p.m. on Tuesday, July 19, 2005.

Dated this 6th day of June 2005

Murray Godfrey
Liquidator
RMG Partners
Suite 67, Level 14/88 Pitt Street
Sydney NSW 2000
Phone: (02) 9231 0889


AUSTRALASIAN BUMPER: Receiver Quits Post
----------------------------------------
Notice is hereby given that Robert Moodie resigned as Receiver
of Australasian Bumper Exchange Pty Limited as of June 3, 2005.

Dated this 17th day of June 2005

Robert B. Moodie
Receiver
Rodgers Reidy
Level 8, 333 George Street
Sydney NSW 2000


AUSTRAL COAL: Centennial Clarifies Incorrect Reports
----------------------------------------------------
Centennial Coal Company Limited clarified inaccurate media
reporting of the decision by the Takeovers Panel to reject the
application by Glencore International AG made to the Panel on
July 4, 2005.

The application alleged, inter alia, that Centennial and Noble
Group became associates in negotiations concerning the sale of
Noble's shares in Austral Coal.

The Panel found that: "Glencore's application did not provide
any reasonable basis to find that an association arose...between
Centennial and Noble."

An APP wire report incorrectly reported one aspect of the
Panel's finding. Whilst the report accurately captured the
essence of the Takeovers Panel's statement, it missed the word
"not" with respect to the issue of whether a reasonable basis to
find an association between the parties existed.

Unfortunately, this error has been repeated in several newspaper
articles Monday, which sourced copy from APP. APP has now
corrected the error.

CONTACT:

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


AUSTRALIAN SUPERANNUATION: Members Opt for Voluntary Liquidation
----------------------------------------------------------------
At a general meeting of the members of Australian Superannuation
Nominees Pry Limited, duly convened and held at Level 11, 27-31
Macquarie Place, Sydney on June 2, 2005, the following special
resolutions were duly passed:

SPECIAL RESOLUTIONS
(A) That the members of the Company approve the voluntary
winding up of the Company.

(B) That the members of the Company approve the appointment of
Brian Allen as liquidator of the Company at a fixed remuneration
of $3,000.

Both resolutions were unanimously carried.

Dated this 2nd day of June 2005

Stephen De Belle
Director
c/o Burton Glenn Allen
Chartered Accountants
Level 2, 57 Grosvenor Street
Neutral Bay NSW
Phone: (02) 9904 4644
Fax:   (02) 9904 9644


BEACONSFIELD GOLD: Insurer Settles Arbitration Award
----------------------------------------------------
Beaconsfield Gold NL disclosed the Beaconsfield Mine joint
venture (BMJV) has reached an in-principle settlement with the
professional indemnity insurer of the BBR Companies.

This followed a facilitation procedure announced on June 17,
2005.

The insurer will pay $13 million as full settlement of the
insurer's exposure, subject to the provision of certain third
party releases. The BMJV participants are now seeking those
releases to progress the in-principle settlement.

The BBR Companies were responsible for the design, supply,
construction and commissioning of the gold treatment plant and
backfill plant at the Beaconsfield mine. While the arbitration
award made against the BBR Companies in January 2004 was in
excess of $60 million (BCD Gold group share in excess of $29
million) plus interest, the professional indemnity insurance was
capped at $20 million under the terms of the construction
contract.

The Beaconsfield Gold group's 48.49 percent share of the $13
million in principle settlement is about $6.3 million.

As previously announced when Beaconsfield Gold came out of
receivership in March 2004, $4 million of interest due to the
Company's secured creditor was set aside, to be repaid only from
50 percent of any proceeds received by BCD from the BBR
arbitration.

As a result it is anticipated $3.15 million of a contingent
liability to the Company's secured creditor will be paid,
reducing the contingent liability to $850,000.

BACKGROUND

An arbitration award of about $60.4 million plus accruing
interest was given during the year in favor of the BMJV
participants for the unsatisfactory design, supply, construction
and commissioning of the ore treatment plant at the Beaconsfield
mine. Of the two construction contracting companies, one went
into administration and the other into liquidation.


BEECHER MANAGEMENT: Schedules Final Meeting of Members
------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members of Beecher
Management Pty Limited will be held on July 25, 2005, 8:00 a.m.
at 28 Lang Road, Centennial Park 2021, to lay before the members
the liquidator's final account and report, and giving any
explanation thereof.

Dated this 2nd day of June 2005

James David Beecher
Liquidator
28 Lang Road
Centennial Park NSW 2021


BONLAC FOODS: Interest Payment of Unsecured Notes Due December
--------------------------------------------------------------
Bonlac Foods Limited advised that the next interest payment date
on the unsecured notes is December 30, 2005 for the six months
ended December 31, 2005.

The Record date for the interest payment is Tuesday, December
13, 2005.

The interest payment will be US$4.60 cents per note.

About Bonlac Foods Limited

Bonlac Foods Limited is ultimately owned by Australian and New
Zealand dairy farmers, with Bonlac Supply Company (BSC) owning
50 percent shareholdings and Fonterra Co-operative Group holding
the other 50 per cent.

Bonlac Supply Company is 100% owned by more than 1500 dairy
farmers who operate dairy businesses in regional Victoria and
Tasmania.

Formed in October 2001, Fonterra is co-operatively owned by more
than 12,000 New Zealand dairy farmers. It is one the world's top
ten dairy companies and the leading exporter of dairy products
responsible for one third of international dairy trade.

CONTACT:

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


COMDEK: Settlement Deals Provide Short Relief
---------------------------------------------
Embattled technology group Comdek has finally relaxed after
bedding down last week settlement deals with two creditors
trying to have the Company liquidated, The West Australian
relates.

Lawyers for Comdek and its two most aggressive creditors,
Medquest Pty Ltd and 154 Collins Street Pty Ltd, went to the
Supreme Court yesterday to ask for the dismissal of winding-up
proceedings that have tied the Company up in legal knots and led
to its shares being suspended from trading on the exchange on
June 9.

Comdek was able to pay its way out of trouble when it sold its
Vianet AIP internet service provider business to fellow listed
technology group Datafast Telecommunications for an undisclosed
amount. Comdek said told the Supreme Court the sale proceeds
will be used to settle disagreements with its hostile creditors.

Comdek had paid out at least $7700 immediately owing to
Medquest, which aas a vendor of Vianet into Comdek in a cash and
convertible note deal in March 2004.

The winding-up application was started in May by equipment
supplier Todaytech Distribution over unpaid debts of more than
$70,000, but Todaytech withdrew the proceedings after striking a
confidential settlement deal with Comdek.

But the application put Comdek at the mercy of tight rules
governing winding-up applications, including other unpaid
creditors being allowed to apply to take the running of the
action if the original petitioning creditor is not paid.

Despite having at least three hostile creditors demanding to be
paid, Comdek told the stock exchange after striking a deal with
Todaytech last month that it anticipated the winding-up
application would be dismissed at a court hearing on June 7.

But Master Craig Sanderson refused to throw out the winding-up
application at the June 7 hearing and instead allowed Medquest
to take the running of the action. He dismissed the winding-up
proceedings and side litigation Thursday last week.

Comdek said it would work with the stock exchange to establish a
suitable timeframe to restart trading.

CONTACT:

Comdek Limited
673 Murray St
West Perth, 6005
Western Australia
Phone: +61 8 9214-5200
Fax: +61 8 9214-5201
E-mail: info@comdek.net.au
Web site: http://www.comdek.com.au


COMPUSULTANTS PTY: Creditors Confirm Liquidator's Appointment
-------------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Compusultants Pty Limited, duly convened and held on June 1,
2005 at Frasers Insolvency Advisory, Level 9, 99 Elizabeth
Street, Sydney NSW 2000, a Special Resolution that the Company
be wound up voluntarily was passed by members, and M. F. Cooper
was appointed Liquidator for such purpose.

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

Dated this 6th day of June 2005

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


GENOA RESOURCES: To Declare Dividend July 15
--------------------------------------------
A fourth and interim dividend is to be declared on July 15, 2005
for Genoa Resources & Investment Limited.

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

Dated this 3rd day of June 2005

R. J.
Dean-Willcocks
Official Liquidator
Star Dean-Willcocks
Level 1, 32 Martin Place
Sydney NSW 2000


HEALTH ESTEEM: Names Officials Liquidators
------------------------------------------
Notice is hereby given that at a general meeting of members of
Health Esteem Pty Limited held on June 3, 2005, it was duly
resolved that the Company be wound up voluntarily, and that
Antony de Vries and Riad Tayeh of de Vries Tayeh, Level 3/95
Macquarie Street, Parramatta NSW 2150 be appointed Joint and
Several Liquidators of the Company.

Dated this 6th day of June 2005

Antony de Vries
Riad Tayeh
Joint and Several Liquidators
de Vries Tayeh
Level 3, 95 Macquarie Street
Parramatta NSW 2150


INTERNATIONAL WINE: New Boss Set to Put Firm Back on Track
----------------------------------------------------------
The embattled International Wine Investment Fund (IWIF) has a
new boss in the person of Geoff Wilson, The Advertiser reports.

Mr. Wilson, the managing director of Sydney boutique fund
manager Wilson Asset Management, has been tapped to manage the
fund's remaining investments as it emerged from a AU$109 million
unit redemption offer.

The new investment committee will include other external
advisers Allan Cheesman, previously a liquor buyer for British
chain Sainsbury, and Vic Motto, chairman of U.S. consulting
group Global Wine Partners.

The redemption offer closed last week, with a group of large
unitholders, including Tasmanian apple processor Michael
Seabrook and overseas hedge fund Laxey Partners, baling out and
departing the Adelaide-based Company's register.

The fund will continue, despite the redemption offer receiving
acceptances for more than 40 million units, the level beyond
which the fund manager Berren Asset Management had said it would
wind up the fund.

Earlier, the Berren board opted to increase the size of the
redemption fund from 40 million to 41 million units, to ensure
the fund could continue to exist, which it said was in
accordance with the wishes of both those shareholders wishing to
exit the fund and those wishing to continue.

The opposing factions emerged after IWI sold its largest asset,
a AU$190 million stake in BRL Hardy, into Constellation's
takeover more than two years ago.

The wine fund was then trading as the world's largest listed
wine investment fund.

However, a group of rebel unitholders slowly gained a large
share of the units and requisitioned subsequent meetings to
either liquidate or restructure the fund.

CONTACT:

International Wine Investment Fund
Ground Floor
26 Greenhill Road
Wayville, South Australia 5034
P.O. Box 59
Goodwood South Australia 5034
Telephone: +618 8373 9900
Facsimile: + 618 8373 9911
Web site: http://www.iwif.com.au/index.htm


JAMES HARDIE: Disposes of Chilean Business for US$15.8 Mln
----------------------------------------------------------
James Hardie announced Monday that it has signed an agreement
for the sale of its Chile Fibre Cement business to Compania
Industrial El Volcan S.A. for a value of US$15.8 million,
comprising of cash and assumption of external debt by the
purchaser.

The sale is effective immediately and does not result in a
material book profit or loss in the Company's accounts.

Since its commencement in 2001, James Hardie's Chilean business
has successfully built local demand for fiber cement, and
started returning positive earnings before interest and tax over
a year ago. Despite this success, the business no longer fits
with the Company's strategic direction for future growth.

James Hardie's Chief Executive Officer, Louis Gries said, "
There are no downsides to this sale. We received a fair offer
and we expect the operation will continue to be a good business
for the new owners.

"This sale enables us to focus our efforts and resources on the
opportunities in North America, Asia Pacific and Europe for
capitalizing on our unique manufacturing technology and
differentiated, value-added products," Mr. Gries said.

CONTACT:

Investor and Analyst Inquiries:

Steve Ashe
Vice President, Investor Relations
Telephone: 61 2 8247 5246
Mobile: 0408 164 011
E-mail: steve.ashe@jameshardie.com.au

Media Enquiries:

James Richards
Telephone: 61 2 8274 5304
Mobile: 0419 731 371
Facsimile: 61 2 8274 5218
E-mail: media@jameshardie.com.au
Web site: http://jameshardie.com


LEGENDS PUBLISHING: Creditors OK Liquidator's Appointment
---------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Legends Publishing Pty Limited held on June 2,
2005, it was resolved that the Company be wound up voluntarily,
and at a meeting of creditors held on the same day, it was
resolved that for such purpose, 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 3rd day of June 2005

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


LIBAN NET: ASIC Restrains Car Insurance Providers
-------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
obtained ex parte orders in the Federal Court in Sydney
restraining Sydenham-based Liban Net Pty Limited (Liban Net)
from selling, or offering to sell, insurance products.

The Federal Court also ordered that Liban Net be restrained from
dealing with, or disposing of any money received from any person
who has purchased insurance contracts issued by or on behalf of
Liban Net, or in the names Australian Private Insurance or API,
which are allegedly owned by Liban Net.

ASIC is concerned that Liban Net offered and issued
comprehensive and third party car insurance policies to members
of the Bartercard network and members of the Barter Board
Xchange (BBX) without the authority to offer and issue such
insurance.

The effect of Liban Net's conduct is that the insurance policies
issued by Australian Private Insurance or API may be worthless,
given that Liban Net, Australian Private Insurance and API are
not:

(1) Holders of an Australian Financial Services license;

(2) Holders of authority to act as representatives of licensees;
or

(3) Authorized insurers with the Australian Prudential
Regulation Authority, as legally required.

ASIC's investigation has revealed that insurance cover sold
through Liban Net's alleged business names Australian Private
Insurance and API are not associated with API Insurance
Services, a business owned by the Australian Post-Tel Institute
(SA & NT) Incorporated.

Consumers who have taken out insurance cover with Liban Net or
businesses associated with Liban Net, such as API or Australian
Private Insurance, should contact Liban Net or its associated
businesses to seek clarification on their insurance cover.

The matter returns to court on Monday 18 July 2005 for a
directions hearing.

Background

ASIC alleges that between May 2004 and April 2005, comprehensive
and third party insurance was offered and issued by Australian
Private Insurance or API, businesses owned by Liban Net

Liban Net is a member of both Bartercard and BBX. Bartercard and
BBX operate as a marketing Company for small to medium size
businesses to trade with each other.

In its application to Bartercard and BBX, Liban Net indicated
that it offered car and other insurance. Due to this, Liban Net,
and its alleged business names, API and Australian Private
Insurance, are promoted by and advertised with Bartercard and
BBX as an insurance provider.

ASIC's investigation has revealed that Liban Net is also being
promoted through referrals from existing clients, who are
members of the Australian public.


MOSS VALE: To Distribute First, Final Dividend
----------------------------------------------
Moss Vale Bowling Club Limited will declare a first and final
dividend on Thursday, July 21, 2005.

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

Dated this 31st day of May 2005

Chris Wykes
Liquidator
c/o Lawler Partners
Level 70, 1 Margaret Street
Sydney NSW 2000
Phone: (02) 8346 6000
Fax:   (02) 8346 6099


OAKLEIGH HOLDINGS: To Declare Dividend Next Month
-------------------------------------------------
Oakleigh Holdings Pty Limited is set to declare a first and
final dividend on Aug. 1, 2005.

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

Dated this 1st day of June 2005

Daniel Civil
Liquidator
Rodgers Reidy
Level 8, 333 George Street
Sydney NSW 2000


OMEGA RESOURCES: Creditors, Members Schedule Final Meeting
----------------------------------------------------------
Notice is hereby given that pursuant to Section 509(1) of the
Corporations Act, a final meeting of members and creditors of
Omega Resources Pty Limited will be held on July 18, 2005, 11:00
a.m., in the Boardroom of Andrew Dunner & Associates, Chartered
Accountants, 23 Erin Street, Richmond.

The purpose of the meeting is to lay accounts before it, showing
the manner in which the winding up has been conducted and the
property of the Company disposed of, and of hearing any
explanation that may be given by the liquidator.

Dated this 14th day of June 2005

A. L. DUNNER
Liquidator
Andrew Dunner & Associates
Chartered Accountants
23 Erin Street, Richmond


PROFESSIONAL UNIFORMS: M.J. Orders Ceases to Act as Receiver
------------------------------------------------------------
Notice is given that on June 1, 2005, M. J. Orders ceased to act
as Receiver and Manager of the property of Professional Uniforms
Pty Limited, that property being described in the schedule of
property shown below:

SCHEDULE OF PROPERTY

The property under control comprises all the property and assets
charged by the Debenture dated Jan. 30, 1989 by virtue of the
Property Law Act 1958.

Dated this 1st day of June 2005

M. J. Orders
Former Receiver and Manager
HLB Mann Judd
Chartered Accountants
Level 1, 160 Queen Street
Melbourne 3000


QANTAS AIRWAYS: Budget Affiliate Ends Merger Talks with Valuair
---------------------------------------------------------------
Singaporean discount carrier Valuair Limited and Qantas Airways'
low-cost unit, Jetstar Asia, have called off discussions over a
possible merger, according to The Australian.

The two carriers ended the talks two weeks after news broke out
that the parties were considering an alliance.

The talks had been welcomed by analysts as a sign of
consolidation in a crowded sector that has seen heavy losses.

According to The Business Times newspaper, the negotiations
between the two parties were supposed to lead to Jetstar buying
all of Valuair, and a new holding Company formed under which
about SG$60 million would be infused into.

Valuair shareholders would have owned about 17.5 percent of the
merged entity, and have been entitled to one of eight board
seats.

Valuair and Jetstar have confirmed the talks were off.

CONTACT:

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


QUINN TECHONOLGY: Court Orders Wind Up of Operations
----------------------------------------------------
On June 3, 2005, the Federal Court of Australia made an Order
that Quinn Technology Pty Limited be wound up by the Court, and
appointed Steven Nicols to be Liquidator for such purpose.

Steven Nicols
Level 2, 350 Kent Street
Sydney NSW 2000


REINER PTY: Final Meeting for Members, Creditors Fixed July 20
--------------------------------------------------------------
A final meeting of members and creditors of Reiner Pty Limited
(trading as Amber Tiles Blacktown) will be held at the offices
of Crouch Insolvency, Level 5, 82 Elizabeth Street, Sydney NSW
on July 20, 2005, 11:00 a.m., for the purpose of attending to
statutory duties.

Dated this 14th day of June 2005

Nicholas Crouch
Liquidator
Crouch Insolvency
Level 5, 82 Elizabeth Street
Sydney NSW


ROMANZA GROUP: Provides Enforceable Undertaking to ASIC
-------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
accepted an enforceable undertaking from Gold Coast property
development Company, Romanza Group Pty Limited (Romanza),
following allegations that the Company failed to comply with an
exemption provided under the Corporations Law, allowing it to
operate a charitable scheme.

Romanza is involved in the business of property development and
the management of an investment scheme called the "Rhema
Investment Fund" (The Fund). The Fund was established by Rhema
Bible Training Centre Association so that members of the Rhema
Bible Church could invest funds on the basis that they would
receive interest and all profits from the Fund's investments in
real estate that would further the objectives of the Church.

ASIC commenced an investigation into Romanza in August 2004,
following allegations that it had contravened the conditions of
an exemption, granted on 16 July 1999, from compliance with the
Corporations Law. The exemption related to fundraising and the
management of the Fund to enable it to operate a charitable
scheme upon certain conditions.

Specifically, ASIC was concerned that Romanza had offered
investments in the Fund while failing to provide financial
statements as required by the exemption. ASIC was also concerned
that the scheme may not have been a charitable scheme, with all
shares held by the Rhema Bible Centre Association Inc, as
required by the exemption.

Further, ASIC was concerned that Romanza may have provided
financial advice, without holding the necessary licence, during
the property investment seminars it conducted.

Under the terms of the enforceable undertaking, Romanza will:

(1) Pay all remaining investors who invested in the Fund their
principal and interest on or before 31 July 2005

(2) Surrender the exemption to ASIC

(3) Close and wind up the Fund, and

(4) Engage the services of an independent Accountant to monitor
payments to investors, and report to ASIC to confirm that all
principal and interest has been paid.

Romanza has also undertaken that it will not receive any further
funds under the exemption and not engage in any activity
involving the provision of unlicensed financial advice, to avoid
any further contraventions in the future.

"ASIC has accepted this undertaking because it believes the
interests of investors are best been protected by the return of
their funds and closure of the Fund," ASIC Deputy Executive
Director of Enforcement, Mr. Allen Turton, said.


R.R & A.E OSTERFIELD: Appoints Official Liquidator
--------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
R.R & A.E Osterfield Pty Limited duly convened and held on June
1, 2005, at 63 Wills Street, Bendigo, a Special Resolution that
the Company be wound up voluntarily was passed by members and G.
M. Rambaldi was appointed Liquidator for the winding up.

Dated this 2nd day of June 2005

G. M. Rambaldi
Liquidator
Pitcher Partners
Level 6, 161 Collins Street
Melbourne, Vic 3000


TEKMAN INVESTMENTS: Members Pass Winding Up Resolution
------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Tekman Investments Pty Limited, duly convened and held on June
1, 2005 at 39 Highview Avenue, Greenacre NSW 2190, a Special
Resolution that the Company be wound up voluntarily was passed
by members, and Mr P. Ngan and Mr G. Parker were appointed Joint
and Several Liquidators for such purpose. Creditors confirmed
the liquidators' appointment at a meeting of creditors held
later that day.

Dated this 2nd day of June 2005

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


TULLAMARINE COLLISION: Members Agree to Wind Up Operations
----------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Tullamarine Collision Center Pty Limited held on June 2, 2005, a
special resolution was passed that the Company be wound up
voluntarily and that Gregory Stuart Andrews, 22 Drummond Street,
Carlton 3053 be appointed Liquidator for the Company.

Dated this 3rd day of June 2005

G. S. Andrews
Liquidator
G. S. Andrews & Associates
Certified Practising Accountants
22 Drummond Street, Carlton Vic 3053
Phone: (03) 9662 2666
Fax:   (03) 9662 9544


TYPO PTY: Inability to Pay Debt Prompts Wind-up Action
------------------------------------------------------
Notice is hereby given that at a meeting of Typo Pty Limited
held on June 6, 2005, the following Special Resolution was
passed:

That as the Company is unable to pay its debts as and when they
fall due, the Company be wound up voluntarily, and that Robert
Moodie be appointed Liquidator for the purpose of such winding
up.

Robert Moodie
Liquidator
c/o Rodgers Reidy
Level 8, 333 George Street
Sydney NSW 2000


VITAL LINK: Members to Hear Liquidator's Report
-----------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001, that a Final Meeting of Members of Vital
Link Geelong Inc.will be held at the office of the Liquidator,
1st Floor, Lexen Building, 200 Malop Street, Geelong on Monday,
July 18, 2005, 11:00 a.m., for the purpose of having an account
laid before them, showing the manner in which the winding up has
been conducted and the property of the association disposed of,
and of hearing any explanations that may be given by the
Liquidator.

Dated this 2nd day of June 2005

Russel Peake
Liquidator
Jenkins Peake & Co
Chartered Accountants
PO Box 1570, Geelong, 3220
Phone: (03) 5223 1000
Fax:   (03) 5221 4938


WAVEMASTER INTERNATIONAL: Embroiled in AU$12-Mln Legal Battle
-------------------------------------------------------------
Collapsed West Australian Aluminum shipbuilder WaveMaster
International Pty Ltd is now in the center of an AU$12-million
legal dispute with two Asian firms, The Australian says.

Wavemaster's former owner, Malaysia-based Penang Shipbuilding
and Construction Industries (PSCI), is facing an AU$10-12
million suit from KordaMentha partner Brian McMaster. Mr.
McMaster was appointed WaveMaster's administrator in November
before becoming its liquidator in February.

Wavemaster blamed its inability to pay its bills on alleged
delays in receiving finance from its then owner, PSCI.

Mr. McMaster also going to take legal action against Singaporean
Company JR Marine Systems for the AU$4.7 million he claims it
owes WaveMaster. The non-payment of that debt is understood to
have contributed to WaveMaster's collapse.

Mr. McMaster said that if he received the AU$4.7 million from JR
Marine, then that amount would be deducted from the claim
against PSCI.

The liquidator said he would seek court judgments in Australia
against PSCI and JR Marine and then apply to have those
judgments transferred to the Malaysian and Singaporean
jurisdictions.

As WaveMaster's steward, Mr McMaster believes he does not need
creditors' approval to pursue the legal actions. If those
actions are successful creditors are unlikely to complain,
because they will most likely get 100c in the dollar.

Meanwhile, Mr. McMaster said WaveMaster employees were paid
their full entitlements, including unpaid superannuation, on
June 30. He said he would also be paying redundancy entitlements
to some employees whom GEERS, the federal Government's employee
entitlement protection scheme, had ruled ineligible.


ZARNDAY PTY: Liquidator Details Agenda of Final Meeting
-------------------------------------------------------
Notice is given that a Final Meeting of the Members and
Creditors of Zarnday Pty Limited will be held at Ngan & Co,
Level 5, 49 Market Street, Sydney NSW 2000 on Tuesday, July 19,
2005, 10:00 a.m.  

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

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

Dated this 2nd day of June 2005

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


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

ANGEL COMPANY: Begins Bankruptcy Proceedings
--------------------------------------------
Notice is hereby given that the bankruptcy order against Wong
Hai Yin trading as Angel Company was made on June 29, 2005.

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

Dated this 8th day of July 2005

ET O'Connell
Official receiver


BCV INVESTMENT: Issues Debt Claim Notice
----------------------------------------
Notice is hereby given that the creditors of BCV Investment Asia
(Hong Kong) Limited (In Members' Voluntary Liquidation), which
is being voluntarily wound up, are required on or before August
8, 2005, to send in their names, addresses and particulars of
their debts or claims, and the name and address of their
solicitors, if any, to the Liquidators of the Company.

If so required by notice in writing from the said Liquidators,
they are to 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 deemed to waive all of such
debts or claims and the Liquidators will be entitled seven days
after the above date, to distribute the funds available or any
part thereof to the Members.

Dated this 8th day of July, 2005

CHONG SHIAO FENG
Liquidator
Suite 6303, Central Plaza
Harbour Road
Wanchai, Hong Kong


C.C.G. ASIA: Creditors Meeting Slated for July 19
-------------------------------------------------
Notice is hereby given that that a meeting of the creditors of
C.C.G. Asia Limited (In Creditors' Voluntary Liquidation) will
be held at Duke of Windsor Social Service Building, 15 Hennessy
Road, Wanchai, Hong Kong on Tuesday, 19 July 2005 at the 12:00
noon for the purposes provided for in Sections 228A, 241, 242,
243 244 the Companies Ordinance.  

Creditors may vote either in person or by proxy.

Proxies to be used at the meetings must be duly completed and
lodged at Ferrier Hodgson Limited, 14th Floor, Hong Kong Club
Building, 3A Chater Road, Central, Hong Kong, not later than
4:00 p.m. on July 18, 2005.

Dated this 8th day of July 2005
By order of the Board
MG Custodian Limited
Director


CHI SHING: Court Rescinds Bankruptcy Order
------------------------------------------
Notice is hereby given that by Order of the High Court of Hong
Kong dated February 18, 2005, the Bankruptcy Order made on
December 13, 2001 and the service of the Petition on December 6,
2001 made against Fung Chau Won trading as Chi Shing Company be
set aside.

Dated this 8th day of June 2005
E T O'CONNELL
Official Receiver


GEEWING COMPANY: Sets Creditors, Contributories Meeting July 19
---------------------------------------------------------------
Notice is hereby given that the first meetings of creditors and
contributories of Geewing Company Limited will be held at the
Official Receiver's Office, 10th Floor, Queensway Government
Offices, 66 Queensway, Hong Kong on July 19, 2005 at the
following times:

(1) Meeting of Creditors: 2:30 p.m.
(2) Meeting of Contributories: 3:30 p.m.

Dated this 8th day of July 2005

E T O'CONNELL
Official Receiver & Provisional Liquidator


GOLDEN CRYSTAL: Creditors Meeting Fixed July 28
-----------------------------------------------
Notice is hereby given that the first meetings of creditors and
contributories of Golden Crystal Development Limited will held
at the Official Receiver's Office, 10th Floor, Queensway
Government Offices, 66 Queensway, Hong Kong on July 28, 2005 at
the following times:

1. Creditors Meeting: 10 a.m.
2. Contributories Meeting: 11 a.m.

Dated this 8th day of July 2005

E T O'CONNELL
Official Receiver & Provisional Liquidator


GUANGDONG KELON: Three Directors Set to Resign
----------------------------------------------
Guangdong Kelon Electrical Holdings Company Limited has received
notification from its three independent non-executive directors,
Mr. Chan Pei Cheong, Andy, Mr. Li Kung Man and Mr. Xu Xiao Lu,
of their intention to resign as independent non-executive
directors of the Company.

According to the laws of the People's Republic of China (PRC)
and the Company's articles of association, the Company is
required to look for replacements within two months of such
notification.

Further announcement will be made when the actual date of
resignation is confirmed.

At the request of the Company, trading in shares of the Company
was suspended with effect from 10 a.m. on June 16, 2005 pending
the release of an announcement in relation to price sensitive
information. Subject to the publication of an announcement in
relation to the financial, production and trading position of
the Group, trading in shares of the Company will remain
suspended until further notice.

For more information, go to
http://bankrupt.com/misc/tcrap_guangdong071105.pdf

By order of the Board of
Guangdong Kelon Electrical Holdings Company Limited
Gu Chu Jun
Chairman
Foshan City, Guangdong, the PRC, 8 July, 2005

CONTACT:

Guangdong Kelon Electrical Holdings Company Limited
2502-2505 Harbour Center
25 Harbour Road
Wanchai, Hong Kong
Phone: 25110363
Fax: 28023434
Web site: http://www.kelon.com


INDUSTRIAL AND COMMERCIAL: Poised to Offer CNY100-Bln Bonds
-----------------------------------------------------------
The Industrial and Commercial Bank of China (ICBC) is preparing
to issue a total of CNY100 billion (US$12 billion) in bonds to
boost its capital base ahead of public listings, China Daily
reports.

ICBC President Jiang Jianqing said on Tuesday that both its
efforts to usher in foreign strategic investors and the debt
issue plan are proceeding smoothly.

The bank received a US$15 billion cash injection from Beijing in
April, which brought its core capital to CNY248 billion (US$29.8
billion), representing a 6 percent upward core capital adequacy
ratio.

Proceeds from the subordinated bonds, which rank behind other
liabilities but before capital in terms of claims on bank
assets, are categorized as non-core capital.

CONTACT:

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


INDUSTRIAL AND COMMERCIAL: Foreign Firms Eye US$1-Bln Stake
-----------------------------------------------------------
Goldman Sachs and Germany's Allianz (AZ) are in talks to acquire
a stake of more than US$1 billion in Industrial and Commercial
Bank of China (ICBC.YY), MarketWatch reports.

The talks between Goldman, Allianz, and ICBC are at an early
stage, according to the report.

China is seeking to revamp its struggling state-run banks ahead
of totally opening its banking sector to foreign competition in
2007, as it has pledged to do under its World Trade Organization
commitments.

Beijing plans to list its biggest state-run commercial banks,
and is wooing foreign investors to bring in modern management
and know-how.


NARDU COMPANY: Court Releases Wind Up Order
-------------------------------------------
Nardu Company Limited, whose business address is situated at
Room 1507, 15th Floor, Emperor Group Centre, 288 Hennessy Road,
Wanchai, 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 26, 2005

Dated this 30th day of June 2005

ET O'Connell
Official Receiver


PAKTANK ASIA: Creditors Asked to Prove Debts by August 8
--------------------------------------------------------
Notice is hereby given that the creditors of Paktank Asia
Pacific Limited (In Members' Voluntary Liquidation) are required
or before August 8, 2005, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors, if any, to the Liquidators of the said
Company.

If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors 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 deemed to waive all of such
debts or claims and the Liquidators will be entitled seven days
after the above date, to distribute the funds available or any
part thereof to the Members.

Dated this 8th day of July, 2005

SUEN PUI YEE
IAIN FERGUSON BRUCE
Liquidators
8th Floor, Gloucester Tower
The Landmark
11 Pedder Street
Central, Hong Kong


PCCW LIMITED: To Repay Sunday Unit's Debt
-----------------------------------------
Sunday Communications Limited (0866) announced that PCCW Limited
(0008) has on July 8 confirmed to Mandarin Communications Ltd
(wholly owned by Sunday) its in-principle agreement to provide
the necessary financial resources to Mandarin in order to enable
Mandarin to repay all loans and performance bonds outstanding
under a facility agreement on July 29 in accordance with the
relevant terms of the facility agreement and to cancel any
available facilities under the facility agreement on July 29 in
accordance with the terms thereof.

As a result, Mandarin has on July 8, 2005 given a written notice
of its intention to prepay the entire principal amount
outstanding (together with accrued interest thereon) under the
Facility Agreement including the amount of all performance bonds
made available under the performance bond facility, and to
cancel the whole of any available facilities under the Facility
Agreement as at July 29, 2005.

For more details, go to
http://bankrupt.com/misc/tcrap_pccw071105.pdf

CONTACT:

PCCW Limited
979 King's Road
39th Flr HK Telecom Tower TaiKoo Place
Quarry Bay
Hong Kong
Phone: +852 2888 2888
Fax: +852 2877 8877
Web site: http://www.pccw.com


TIN LI: Court to Hear Wind-up Petition August 3
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of Tin
Li (H.K.) Development Limited by the High Court of Hong Kong was
on June 6, 2005 presented to the said Court by Woo Hiu Fong of
Room 13, 5/F., Ching Pak House, Cheung Ching Estate, Tsing Yi,
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.

(BETTY CHAN)
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

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


UNIK COMPANY: Commences Bankruptcy Proceedings
----------------------------------------------
Notice is hereby given that the bankruptcy order against Chiu
Sin Tony trading as Unik Company was made on June 29, 2005.

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

Dated this 8th day of July 2005

ET O'Connell
Official receiver


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

BANK BUMIPUTERA: Pefindo Affirms BBB- Bond Rating
-------------------------------------------------
Pefindo reaffirmed "idBBB-" ratings for PT Bank Bumiputera Tbk
(BABP) and its IDR300 billion bond due next year.

The ratings reflect the bank's favorable interest margin, as
well as manageable asset quality. Nevertheless, the bank's high
cost to income ratio and funding concentration still mitigate
the ratings.

BABP was established in 1989 and started operating as a
commercial bank in 1990. In its early operation, BABP's core
businesses were geared toward the corporate sector. However,
starting in 2000/2001, the bank shifted its target market to the
consumer segment (retail banking) and commercial segment (small
and medium enterprises).

As part of this strategy transformation, BABP positioned itself
as "the preferred family bank". With regard to distribution
capabilities, BABP has 55 branch offices (as of 2004) that
spread out in several big cities in the country.

The bank plans to open a number of additional branches
throughout 2005 to improve its capability in deposit taking
activities. Besides these branches, BABP's distribution network
is also equipped with 58 units of self-owned ATMs (FY04), which
are also incorporated with around 5200 units of ATM Bersama.

In July 2004, Mr. Tun Daim Zainuddin - the sole owner of ICB
Financial Group Holdings Ltd. and a former Malaysian Finance
Minister, had acquired 58.32% BABP's stakes and became the major
shareholder of the bank. As of March 2005, the bank's
shareholders structure was as follows: Mr. Tun Daim Zainuddin
(58.32%), AJB Bumiputera 1912 (14.96%), and Public (26.72%).

CONTACT:

PT. Bank Bumiputera Indonesia Tbk.
Jl. Jend. Sudirman Kav. 75
Jakarta 12910
Indonesia
Phone: (62-21) 570-1626
Fax: (62-21) 525-5244


MERPATI NUSANTARA: Government Opts for a Restructure
----------------------------------------------------
In response to the question of whether to restructure or close
down local airline PT Merpati Nusantara, the Indonesian
government has decided to restructure the troubled carrier, Asia
Pulse reports.

According to Minister for State Enterprises Sugiharto, the
Government would have to restructure the Company's IDR1.6
trillion debt, which it owes to the government and other vendors
and was due for payment last March.

Together with the House of Representatives, the government is
set to inject IDR400 billion in fresh funds into the troubled
airline, in order for it to return to normal operations.
Investors who have a reported interest in the airline, such as
AirAsia, Royal Brunei Airlines, Swiss International Airlines and
Virgin Blue Airlines, would also aid the government in rescuing
the carrier from bankruptcy.

Aside from its IDR1.6 trillion debt, Merpati Nusantara currently
has a monthly cash flow deficit of IDR40 billion and a negative
equity position of IDR871.3 billion, due to the lack of working
capital.

CONTACT:

Merpati Nusantara Airlines
PO Box 323, Jln. Angkasa
Block 815 Kav 2-3
Jakarta 10720 Indonesia
Phone: +61 (0) 8 8941 1606
Fax:   +62 21 654 6789
Web site: http://www.merpati.co.id


PERTAMINA: Signs Contracts to Supply More Gas
---------------------------------------------
State-owned oil and gas firm PT Pertamina and four other state-
owned oil firms signed a contract with Energi Mega Persada in
order to sell gas to local consumers, reports Asia Pulse.

State power firm Perusahaan Litrik Negara, gas firm Perusahaan
Gas Negara, petrochemical Company Petrokimia Gresik and
fertilizer producer Pupuk Kujang signed the contract together
with Pertamina, to sell 760 trillion British thermal gas units
nationwide.

According to the Oil & Gas Executive Board (BP Migas) head
Kardaya Warnika, Indonesia would use more gas to fuel its
industries.

Due to a recent oil shortage in the country, Pertamina has cut
back on distributing oil to other countries in order to maintain
a 20-day safe level of oil reserves, but so far the Company has
enough reserves to last two weeks.

Indonesia's vice president Yusuf Kalla has asked the general
public to reduce its use of the precious fuel, and to be more
efficient in using gasoline as the oil problem is not expected
to be solved anytime soon.

The Indonesian government has promised to support Pertamina by
disbursing further fuel subsidies in order for the Company to
import more oil to cope with national demand, which has risen
for the past two years due to strong economic growth.

CONTACT:

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


TELEKOMUNIKASI INDONESIA: May Opt for NYSE Delisting
----------------------------------------------------
State-owned telecommunications firm PT Telekomunikasi Indonesia
(Telkom) is looking to delist its shares from the New York Stock
Exchange (NYSE) where it is currently listed, in order to reduce
costs, AFX News reports.

Telkom President Arwin Rasyid said that the matter has been
discussed in a recent meeting of the Company's board of
directors. According to Mr. Rasyid, staying on the NYSE
necessitates better corporate governance and stricter rulings
for disclosures. He also added that listing of the Company's
American Depositary Receipts on the NYSE is very costly.

The Company had failed to submit its 2003 annual financial
report to the U.S. Securities & Exchange Commission last year,
as the Commission did not recognize its auditor. This year, the
Company has asked for a further 15-day extension on top of an
earlier extension to submit its 2004 financial report.

The Company's previous management had wanted to remain on the
NYSE in order to ensure better corporate governance, but the
Indonesian government intervened in its annual shareholder's
meeting in June, asking that Telkom be delisted from the NYSE in
order to save on expenses.

PT Telekomunikasi Indonesia owns more than 50% of Indonesia's
mobile communications market.

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
=========

HITACHI LIMITED: Nomura Seeks Out-of-court Settlement
-----------------------------------------------------
Nomura International announced that the litigation initiated by
Hitachi Limited against the Company on alleged patent
infringement is still proceeding but is seeking an out-of-court
settlement, Infocast News reports.

Nomura predicted that with the Company's implication in the
litigation banks will probably demand higher interest rates from
the Company to compensate the mounting operating risks. At the
same time, in order to reduce inventories the Company may offer
bigger discounts to distributors. Accordingly the Company's
distribution costs may rise.

The brokerage has lowered the 2005 and 2006 EPS estimates for
the stock by 25.8 percent and 29.3 percent respectively, while
the stock's target price has been chopped by 28.57 percent to
$0.75 as well.  

CONTACT:

Hitachi Limited
6-6 Marunouchi 1-Chome
Chiyoda-Ku 100-8280, Tokyo 101-8010
Japan
Phone: +81 3 3258 1111
Fax: +81 3 3258 5480


MITSUBISHI MOTORS: To Sign SUV Deal Monday
------------------------------------------
Mitsubishi Motors Corporation (7211.TO) and PSA Peugeot Citroen
(12150.FR) are expected to sign Monday an agreement under which
Mitsubishi will supply the French firm with 30,000 sport-utility
vehicles a year starting in 2007, MarketWatch reports.

The ailing Japanese automaker has been eager to line up supply
deals with other car companies as its own sales have taken a
serious hit after the Company admitted to systematically
concealing vehicle defects for more than 20 years.

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


RESONA HOLDINGS: To Bolster Core Capital
----------------------------------------
Resona Holdings Inc. plans to issue JPY100 billion (US$890
million) of shares to to U.S. and European institutional
investors to boost its capital, Agence France-Presse reports.

The move was aimed at facilitating the repayment of public funds
injected on the nationalization, the report said, noting the
group owes the government about JPY3 trillion.

No immediate comment was available from the Company.

The Company swung back to profit for the first time in five
years in the business year that ended in March.

CONTACT:

Resona Holdings, Inc.
2-1, Bingomachi 2-chome
Chuo-ku, Osaka 540-8608
Japan
Phone: +81-6-6271-1221
Fax: +81-6-6268-1337


SANYO ELECTRIC: S&P Assigns Credit Lease Receivables 'AAA'
----------------------------------------------------------
Standard & Poor's Ratings Services (S&P) had assigned its
preliminary 'AAA' rating to Sanyo Electric Credit Lease
Receivables JPY10 billion fixed-rate senior trust certificate
2005-2-1.

A pool of lease receivables originated by Sanyo Electric Credit
Co. Ltd ultimately backs the certificate. The receivables have
been transferred to a master trust created with Sumitomo Trust &
Banking Co. Ltd.

This transaction is the fifth series of securities to be issued
by the master trust, which was originally established in
February 2002.

The preliminary rating is based on information as of July 8,
2005.

Subsequent information may result in the assignment of final
rating that differs from the preliminary rating.

The preliminary rating addresses the full and timely payment of
interest and the ultimate repayment of principal by the
transaction's legal final maturity date, which is scheduled to
take place six years following the occurrence of an amortization
method conversion trigger event.

The preliminary rating is based on:

1.)  Ample credit support provided by subordination equivalent
to 9% of the investor interests, based on a discount rate of
3.5% on the lease receivables;

2.) An ample cash reserve to be funded at closing;

3.) Rigorous early amortization events that will convert
principal redemption to a pass-through structure under certain
adverse circumstances; and

4.) The excellent servicing capabilities of Quoq Inc., which has
been appointed as the backup servicer for this transaction.

CONTACT:

Sanyo Electric Co. Ltd.
Address:  5-5 Keihan-Hondori, 2-chome
Moriguchi, Osaka 570-8677, Japan
Phone: +81-6-6991-1181
Fax: +81-6-6991-2086


SANYO ELECTRIC: Honeywell Grants Licenses for LCD Patent
--------------------------------------------------------
Honeywell announced that it has granted a license authorizing
Sanyo Electric Co. Ltd. and Sanyo Epson Imaging Devices Corp.
(SEID) to use a patented Honeywell technology relating to
certain liquid crystal display (LCD) products.

The patented technology increases the brightness of images and
reduces the appearance of certain interference effects on LCDs.
Terms of the agreement were not disclosed.

LCDs are widely used in products such as desktop PC monitors,
notebook computers, cell phones, personal digital assistants,
portable DVD players, portable LCD TVs, video game systems, and
digital still cameras.

"The participants in our licensing program continue to expand,
and we welcome Sanyo and SEID to our program," said Loria
Yeadon, CEO of Honeywell Intellectual Properties Inc.

The Sanyo agreement provides a license to use technology
protected by U.S. Patent Number 5,280,371 -- the "'371 patent."
Honeywell licensed Sharp Corporation under the '371 patent
earlier this year and LG.Philips LCD, NEC LCD, Chi Mei
Optoelectronics and Samsung Electronics Co. Ltd. in prior years.

In October 2004, Honeywell filed a lawsuit in U.S. District
Court for the District of Delaware against 34 electronics
companies alleging infringement of the '371 patent. The
litigation is pending. "Honeywell has made a very significant
investment in technology, and we vigorously defend ourselves
against the unlicensed use of our intellectual property. We
encourage companies that desire proven technologies, reduced
development costs, quicker time to market, and globally
recognized brands, to explore Honeywell's licensed solutions,"
said Yeadon.

Honeywell International is a $26 billion diversified technology
and manufacturing leader, serving customers worldwide with
aerospace products and services; control technologies for
buildings, homes and industry; automotive products;
turbochargers; and specialty materials. Based in Morris
Township, N.J., Honeywell's shares are traded on the New York,
London, Chicago and Pacific Stock Exchanges. It is one of the 30
stocks that make up the Dow Jones Industrial Average and is also
a component of the Standard & Poor's 500 Index. Honeywell
Intellectual Properties Inc. is a subsidiary of Honeywell
International which globally manages the corporation's diverse
intellectual property assets and leads the corporation's IP
licensing business and strategy. For additional information,
please visit www.honeywell.com.

Based in Phoenix, Honeywell Intellectual Properties Inc. (HIPI)
globally manages Honeywell's intellectual property portfolio and
licenses companies worldwide under patents, trademarks, proven
technologies and other Honeywell intellectual property to help
accelerate their business growth.

This release contains forward-looking statements as defined in
Section 21E of the Securities Exchange Act of 1934, including
statements about future business operations, financial
performance and market conditions. Such forward-looking
statements involve risks and uncertainties inherent in business
forecasts as further described in our filings under the
Securities Exchange Act.

Contact:

Honeywell
Ron Crotty, 602-436-6823 (Media)


SOJITZ HOLDINGS: Unit Participates in Takeover Bid
--------------------------------------------------
Sojitz Holdings Corporation announced that Sojitz Corporation
(Sojitz), a wholly owned subsidiary of Sojitz Holdings, has
decided to take up an offer by Zensho Inc. (Zensho) in
connection with Zensho's takeover bid for Nakau Corporation
(Nakau).

1. Rationale

In March 2005, Sojitz transferred 33.0 percent of Nakau's
outstanding shares to Zensho (total Sojitz shareholding in Nakau
prior to this transfer was 51.4 percent). In accordance with the
continuous review of its business portfolio, Sojitz has decided
to divest its remaining shareholding in Nakau (18.4 percent) and
take up Zensho's takeover bid for the Company, which it intends
to convert to a consolidated subsidiary.

The Sojitz Group intends to increase transactions with the
Zensho Group in connection with the procurement of ingredients,
distribution, overseas business and joint projects as part of
the business alliance agreement between Sojitz and Zensho.

2. Number of Shares (planned) relating to the Takeover Bid
860,000 shares (approximately 18.4 percent of Nakau's
outstanding shares)

3. Schedule

July 7, 2005 Announcement of the takeover bid
July 8, 2005 Notification of commencement of the takeover bid
July 28, 2005 Last day of the takeover bid period

4. Profile of Nakau Co., Ltd.

Company Name: Nakau Co., Ltd
Representative: Masanori Sumita, President and Representative
Director
Headquarters: 25-16, Enokicho, Suita-shi, Osaka
Establishment: February 1966
Paid-in Capital: JPY684 million (as of March 31, 2005)
Main Business: Management and operation of a Japanese fast food
chain-
Principal menu: beef bowl, chicken and egg bowl, and wheat
noodles

5. Profile of Zensho Inc.

Company Name: Zensho Inc.
Representative: Kentaro Ogawa, President and Representative
Director
Headquarters: 2-18-1, Konan, Minato-ku, Tokyo
Establishment: June 1982
Paid-in Capital: JPY3,021 million (as of March 31, 2005)
Main Business: Food Business (Comprehensive management including
purchase of ingredients production, distribution and outlet
sales)
Company Name: Sojitz Holdings Corporation

Inquiries:

Takeshi Yoshimura, General Manager
Public Relations Dept.
Phone: + 81 - 3 - 5520 - 3404


TOSHIBA CORPORATION: Investigates Building Fire
-----------------------------------------------
Toshiba Corporation, in a press release, announced that a fire
broke out in the No. 40 Building of Toshiba's Komukai
Operations, located in Saiwai-ku, Kawasaki, Kanagawa Prefecture,
Japan, at around 7:11 a.m. Japan Standard Time.

The cause is under investigation. The impact on Toshiba's
operating results remains unclear.

The Company apologizes to every one in the immediate vicinity of
the plant, and to any other concerned parties, for any
inconvenience.

CONTACT:

Toshiba Corporation
1-1-1 Shibaura, Minato-ku, Tokyo, Japan
Contact: Naoto Hasegawa, General Manager
Corporate Communication Office
Phone: 81 3 3457 2096


VICTORIA INC.: METI OKs Business Restructuring Scheme
----------------------------------------------------
The business-restructuring plan submitted by Victoria Inc. was
evaluated pursuant to Article 3, Paragraph 6 of the Law on
Special Measures for Industrial Revitalization, and found to
fulfill the business structure modification requirements of
Article 2, Paragraph 2, Clause 1, and business innovation
requirements of Clause 2.

The Ministry of Economy, Trade and Industry consequently
approved the plan on July 7.


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

ASIANA AIRLINES: To Commence Cebu Flight Despite RP Crisis
----------------------------------------------------------
The political crisis in the Philippines would not stop Asiana
Airlines from commencing direct flights from South Korea to Cebu
on July 16, reports Asia Pulse.

The planned four times a week flight of Asiana to Mactan-Cebu
International Airport will push through.  An Airbus 321-200 with
a capacity of 177 passengers- 12 for business class and 165 for
economy passengers will service the flight.  Flights are
scheduled Thursdays, Fridays, Sundays and Mondays.

The route was opened to accommodate the increasing number of
Koreans visiting Cebu and other parts of the Philippines. Last
year over 94,000 Koreans visited Cebu, the Department of Tourism
Central Visayas office said.  Asiana expects 80 to 100 percent
bookings on every trip.

The growth rate for Korean tourism arrivals in the Philippines
is 24.6 percent in 2004, which placed Koreans at the third rank
of tourism arrivals in the country.

Mactan-Cebu International Airport General Manager Adelberto Yap
said the entry of Asiana and Korean Airlines is beneficial to
Cebu.  Koreans visiting the country would infuse a huge amount
in Cebu's economy.

However, Asiana will not recruit additional employees once the
office in the Mactan Airport opens.  Asiana will just hire the
services of the Visayas Aviation Services Corp. (Vascor).

Vascor assistant station manager Roy V. Minoza said his office
will provide Asiana Airlines with services like the handling of
passengers, cargo and all other aspects of airport operations.

Korean Ambassador Myung-Hwan Yu, during his recent visit in one
of the towns of Cebu said the increasing number of South Korean
tourists is giving a market to both Asiana and Korean Airlines.
Mr. Myung also projected Korean tourists visiting Cebu to reach
the half a million mark by next year.

CONTACT:

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


JINRO LIMITED: FTC's Meeting Will Decide Fate of Hite Merger
------------------------------------------------------------
The outcome of the Fair Trade Commission meeting will decide the
fate of Hite Brewery Co. on its acquisition of Jinro Ltd.,
considered as the biggest-ever merger in the Korean corporate
History, Asia Pulse says.

The Hite led-consortium has until July 20 to get an approval
from the nation's anti-trust regulator for a KRW3.4 trillion
merger with Jinro.  The consortium includes domestic funds such
as the Military Mutual Aid Association, the Korean Teachers'
Credit Union and the Industrial Bank of Korea.

Jinro holds about 55 percent of the soju market, while Hite
controls some 58 percent of beer market in South Korea.
Following the deal, the commission's meeting will decide about
monopolistic concerns in the nation's liquor market.  

Jinro employees have expressed disapproval over the deal.  They
accused Goldman Sachs, one of the Company's creditors, of
conspiring the Company to collapse.  Jinro signed a contract
with Goldman Sachs in 1997 to handle the Company's
restructuring.

The employees blamed Goldman Sachs for using internal
information during the contract period for buying the Company's
debts. Goldman Sachs is expected to gain about 1 trillion won
from the sale.

Jinro collapsed because of heavy debts during the Asian
financial crisis, it has been under court receivership since
then.

CONTACT:

Jinro Limited
1448-3 Seocho-dong Seocho-gu
Jinro Bldg
Seoul, Seoul 137-866
Korea (South)
Telephone: +82 2 520 3114; +82 2 520 3453  
Web site: http://www.jinro.co.kr/


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

AKTIF LIFESTYLE: Reconciles Deviation of Financial Results
----------------------------------------------------------
In accordance with paragraph 9.19 (34) of Chapter 9 of the
Listing Requirements of Bursa Malaysia Securities Berhad, the
Board of Directors of Aktif Lifestyle Corp. Berhad advised the
bourse that the audited results of the Group for the year ended
February 28, 2005 deviate from the unaudited results as
announced on May 17, 2005.

The reconciliation of the deviation and the explanations thereof
are set out below:

RM'000

Unaudited profit after tax and minority interest: 61,633

Add/(Less)  
Exceptional item  

Difference in amount written back due on accumulated losses of
Aktif Lifestyle Stores Sdn Bhd (ALS) Group
(disposal of ALS Group on June 18, 2004) (Note 1): 1,175

Audit adjustment
Audit adjustment on management accounts for ALS Group (Note 2):
(7,936)

Group Consolidated Adjustment
Minority Interest: (181)

Audited profit after tax and minority interest: 54,691

Notes:

(1) This represent the difference in losses of ALS Group which
was written back into the consolidated income statements on the
disposal of ALS Group.

(2) This was mainly due to audit adjustment arising from ALS
Group (unaudited figures used previously was based on
managements accounts of ALS Group).

This announcement is dated 4 July 2005.

CONTACT:

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


AMTEL HOLDINGS: Wraps Up Viva World Acquisition
-----------------------------------------------
Amtel Holdings Berhad (AHB) issued to Bursa Malaysia Securities
Berhad an update on Group Restructuring and Rationalization.

(1) Introduction

The Board of Directors of AHB announced that on July 5, 2005,
AHB entered into a Sale and Purchase agreement (SPA) with its
wholly owned subsidiary, Amtel Industries Sdn Bhd (AISB) to
acquire from AISB the entire equity interest in Viva World
Industries Sdn Bhd (VWISB) comprising 600,000 ordinary shares of
MYR1/- each for a cash consideration of MYR1,001,824/- (the
Acquisition). The purchase consideration is payable by way of a
credit against amount owed by AHB to AISB.

The Acquisition is deemed non-related party transaction and none
of the Directors and substantial shareholders of AHB and persons
connected with them has any direct or indirect interest in this
transaction.

(2) The Acquisition

(2.1) Particulars of the assets being acquired

VWISB was incorporated in Malaysia on February 7, 1994 and has
an issued and paid-up share capital of MYR600,000/- comprising
600,000 ordinary shares of MYR1/- each.

(2.2) Description of the business carried on

VWISB is principally engaged in manufacturing of agricultural
testing products for export.

(2.3) The aggregate value of consideration, explaining how this
was arrived at and will be satisfied, including the terms of any
arrangement for payment on a deferred basis.

The consideration of MYR1,001,824/- is payable by way of set-off
against amount owing by AISB to AHB. The consideration was
arrived at on a willing buyer-willing seller basis after taking
into consideration the fair value of assets and liabilities
established based on the financial statements of VWISB as at
November 30, 2004.

(2.4) Financial information on the assets which are the subject
matter of the transaction, including but not limited to net
profits attributable to assets and the net tangible assets or
net book value of the assets.

For the financial year ended November 30, 2004, VWISB recorded a
net profit after taxation of MYR97,974/-. Shareholders' funds
and net tangible assets as at that date stood at MYR4,027,808/-.

(2.5) The effects of the transaction on the listed issuer, which
includes the effect of the transaction of the earning per share,
net tangible assets per share, share capital and substantial
shareholders' shareholding of the listed issuer

(i) Earning per share

The Acquisition will not have any effect on the Group's earnings
per share.

(ii) Net tangible assets

The Acquisition will not have any effect on the Group's net
tangible assets.

(iii) Share capital

The Acquisition will not have any effect on the issued and paid-
up share capital of AHB.

(iv) Substantial shareholders' shareholding

The Acquisition will not have any effect on AHB's substantial
shareholders' shareholdings.

(3) In the case of an acquisition:

(i) Where consideration is to be satisfied in whole or in part
by an issue of securities of the listed issuer: Not applicable.

(ii) Where the purchase consideration is to be satisfied by
cash, the source of funding and details of the vendor: Not
applicable.

(iii) Particulars of all liabilities to be assumed by the listed
issuer, arising from the transaction:

There is no liability to be assumed pursuant to the Acquisition.

(iv) The original cost of investment to the vendor and the date
of such investment:

Total no. of shares held in VWISB: 600,000 ordinary shares of
MYR1/- each

Original cost of investment: MYR2,077,952/-

Date of investment: January 16, 1996

(4) In the case of a disposal: Not applicable

(5) Where the consideration is in the form of equity share
capital: Not applicable

(6) Whether the transaction is subject to the approval of
shareholders and relevant government authorities:

The Acquisition is not subject to the approval of the Company's
shareholders or relevant government authorities.

(7) Whether the directors and/or major shareholders and/or
person connected with a director or major shareholder have any
interest, direct or indirect, in the transaction and the nature
and extent of their interest:

None of the directors and/or major shareholders of AHB and/or
persons connected with them have any direct or indirect interest
in the Acquisitions.

(8) The rationale for the transaction:

Following the acquisition of the entire equity interest, VWISB
becomes the wholly owned subsidiary of AHB as part of the
Group's restructuring exercise to streamline and rationalize its
operations.

(9) The salient features of the agreement and valuation report,
if any, and the time and place where such documents may be
inspected:

The sale shares are acquired of free of all liens, charges,
pledges and/or encumbrances whatsoever and with all rights,
benefit and advantage attaching thereto and accruing thereon.

A copy of the Share Sale Agreement is available for inspection
at the registered office of AHB at No. 7, Jalan PJS 7/19, Bandar
Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan during normal
business hours on any working day for a period of three months
from the date of this announcement.

(10) The date on which the terms of the transaction were agreed
upon: 5 July 2005.

(11) Statement by the Board of Directors:

The Directors of AHB are of the opinion that the Acquisition are
in the best interest of AHB and its group of companies.

(12) The prospects and risk factors of the assets, businesses or
interest to be acquired: Not applicable.

(13) The estimated timeframe for the completion of the
transaction:

The Acquisition was completed on 5 July 2005.

(14) A statement whether the intended transaction has depart
from the Securities Commission's Policies and Guidelines on
Issue/ Offer of Securities:

The acquisition complies with the Commission's Policies and
Guidelines on Issue/Offer of Securities in particular paragraph
17.05 - Acquisition by Cash.

(15) Any other information which is necessary to enable an
investor to make an informed decision: None

This Announcement is dated 5 July 2005

By Order of the Board
Amtel Holdings Berhad
Chia Moh Mui
Secretary


ANCOM BERHAD: Purchases 104,500 Shares on Buy Back
--------------------------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buy back dated July 5, 2005 with the following
details:
   
Description of shares purchased: Ordinary shares of MYR1.00 each

Total number of shares purchased (units): 104,500

Minimum price paid for each share purchased (MYR): 0.625

Maximum price paid for each share purchased (MYR): 0.645

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 104,500

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

Cumulative net outstanding treasury shares as at to-date
(units): 10,711,900

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
Website: http://www.ancom.com.my


BELL & ORDER: Awaits SC's Approval of Scheme
--------------------------------------------
The Board of Directors of Bell & Order Berhad (B&O) informed
Bursa Malaysia Securities Berhad that there is no change in the
status of the default payments of the interest and repayment of
principal to financial institutions in respect of various credit
facilities granted to B&O.

B&O through the Court Convened Scheme Creditors Meeting held on
June 17, 2005 had obtained approval for the Proposed Composite
Scheme of Arrangement pursuant to Section 176 of the Companies
Act, 1965.

Currently, B&O is waiting for an approval from the Securities
Commission (SC) and the SC (on behalf of Foreign Investment
Committee) to implement such scheme.

This announcement is dated 5 July 2005

CONTACT:

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


BOUSTEAD HOLDINGS: Purchases PSCI Shares to Boost Stake
-------------------------------------------------------
Boustead Holdings Berhad updates Bursa Malaysia Securities
Berhad on the purchase of additional ordinary shares of MYR1.00
each in PSC Industries Berhad (PSCI) (Collectively referred to
as the Acquisition).

(1) Introductions

The Board of Directors of Boustead Holdings Berhad informed the
bourse that the Company had purchased an additional block of
24,563,100 shares in PSCI representing 14.11 percent of the
issued and paid up capital of PSCI as at December 31, 2004
thereby increasing the Company's total shareholding in PSCI to
32.72 percent of the issued and paid up capital of PSCI as at
December 31, 2004.

(2) Details of Acquisition

(2.1) Particulars

The Acquisition involves the cash purchase by the Company of
24,563,100 ordinary shares of MYR1.00 each in PSCI via direct
business transaction for cash.

(2.2) Information on PSCI

The authorized issued and paid up share capital of PSCI is
MYR500,000,000 comprising 500,000,000 ordinary shares of MYR1.00
each of which 174,083,348 ordinary shares have been issued and
fully paid-up as at December 31, 2004.

The principal activities of PSCI are investment holding,
property holding and development and the principal activities of
its subsidiary companies include the marketing and distribution
of Exocet weapon systems, supply of electronics and system
technology in relation to the shipping and marine industry,
providing and servicing of BOFORS weapons systems, design,
manufactures, supply, integrate service and maintenance repair
and overhaul of the communication systems and equipment and
franchise management service for ferry operations and other
marine related activities.

Based on the latest available audited financial statements for
the year ended December 31, 2004, PSCI recorded a negative net
tangible assets (Negative NTA) value of MYR196.8 million or
MYR1.13 per share with the loss after tax of MYR513.1 million or
a net loss per share (LPS) of MYR2.95 per share.

(2.3) Information on Boustead

Boustead was incorporated in Malaysia on July 25, 1960. The
authorized issued and paid up share capital of Boustead is
MYR500,000,000 comprising 1,000,000,000 ordinary shares of
MYR0.50 each of which 584,057,289 ordinary shares have been
issued and fully paid-up.

The principal activity of Boustead is that of investment holding
Company. The principal activities of its subsidiaries range from
oil palm plantation to shipping agencies.

The net tangible asset of Boustead based on the latest available
audited financial statements for the year ended December 31,
2004 was MYR1,795,519,000 and the profit after tax was
MYR175,960,000.

(2.4) Information on Vendor

The shares were purchased from Pengurusan Danaharta Nasional
Berhad (Danaharta), a national asset management Company set up
to achieve the objective of safeguarding the stability of the
financial market.

(2.5) Source of funding

The cash consideration for the Acquisition will be funded by the
Boustead Group through a combination of bank borrowings and/or
internally generated funds.

(3) Rationale for Acquisition

The rationale for the Acquisition is to increase the Boustead's
shareholdings in PSCI and to reduce the cost of investment in
PSCI.

(4) Financial Effects of Acquisition

The Proposed Acquisition is not expected to have any material
financial effects on the Company.

(5) Approvals Required

The Acquisition is not subject to approvals from any authorities
and/or shareholders of the Company.

(6) Directors' and Substantial Shareholders' Interests

None of the substantial shareholder or the Directors of Boustead
or any persons connected to them have any interest, directly or
indirectly in the Acquisition.

(7) Statement by Directors

The Board, having considered all aspects of the Acquisition is
of the opinion that the Acquisition is in the best interest of
the Company.

(8) Departure from SC Guidelines

To the best knowledge of the Board, the Acquisition has not
departed from the Securities Commission's Policies and
Guidelines on Issue/ Offer of Securities.

CONTACT:

Boustead Holdings Berhad
18th Floor, Menara Boustead,
69 Jalan Raja Chulan,
50200 Kuala Lumpur
Telephone: 03-2141 9044
Fax: 03-21430075
Web site: http://www.boustead.com.my


CONSOLIDATED FARMS: AGM Slated for July 29
------------------------------------------
Consolidated Farms Berhad informed Bursa Malaysia Securities
Berhad that the Twenty-Second AGM of CONFARM will be held at the
Dewan Seroja, Kelab Golf Perkhidmatan Awam, Bukit Kiara, Off
Jalan Damansara, 60000 Kuala Lumpur on Friday, 29 July, 2005 at
10:00 a.m. The Company enclosed herewith a copy of the Notice of
the said AGM for your attention.

To view a full copy of the announcement, click
http://bankrupt.com/misc/ConsolidatedFarms070505.pdf

CONTACT:

Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199  
Fax: 03-23002299


DATAPREP HOLDINGS: ICULS Matures August 5
-----------------------------------------
Dataprep Holdings Berhad (DATAPRP) issued the following
announcement to Bursa Malaysia Securities Berhad:

(i) DATAPRP's Irredeemable Convertible Unsecured Loan Stocks
2002/2005 (ICULS 2002/2005) will expire at 5:00 p.m., on Friday,
August 5, 2005.

(ii) Trading in the DATAPRP's ICULS 2002/2005 will be suspended
with effect from 9:00 a.m., Thursday, July 21, 2005 in order to
facilitate the conversion of the ICULS 2002/2005.

(iii) DATAPRP's ICULS 2002/2005 will be removed from the
Official List of the Securities Exchange with effect from 9:00
a.m., Monday, August 8, 2005.

CONTACT:

Dataprep Holdings Berhad
Lot 69-73, Jalan Setiabakti
Bandar Damansara
50490 Kuala Lumpur, WP
Malaysia
Phone: 603-2539625
Fax:   603-2539620


HAP SENG: Repurchases 2,000 Ordinary Shares
-------------------------------------------
Hap Seng Consolidated Berhad advised Bursa Malaysia Securities
Berhad that it purchased 2,000 ordinary shares of MYR1.00 each
at the shares buy back dated July 5, 2005.

The minimum price paid for each share purchased is MYR2.190,
while the maximum price stood at MYR2.190 each.  The number of
shares purchased retained in treasury was 2,0000. Cumulative net
outstanding treasury shares as at to-date (units) is 32,749,900.

CONTACT:

Hap Seng Consolidated Berhad
No. 1A, Jalan 205
46050 Petaling Jaya
Selangor
Telephone: 03-7783 9888
Fax: 03-7781 6305


HONG LEONG: Notes Ordinary Shares Buyback
-----------------------------------------
Hong Leong Industries Berhad posted at Bursa Malaysia Securities
Berhad a notice of shares buy back July 5, 2005 with the
following details:
   
Description of shares purchased: Ordinary shares of RM0.50 each

Total number of shares purchased (units): 25,000

Minimum price paid for each share purchased (RM): 3.360

Maximum price paid for each share purchased (RM): 3.360

Total consideration paid (RM): 84,000.00

Number of shares purchased retained in treasury (units): 25,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 7,389,000

Adjusted issued capital after cancellation (no. of shares)
(units):  
   
This announcement is dated 5 July 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


LANKHORST BERHAD: Updates on Unit's Wind Up Petition
----------------------------------------------------
Lankhorst Berhad refers to Bursa Malaysia Securities Berhad's
letters of March 24, 2005, April 6, 2005 on the advertisements
of winding-up petitions respectively.

On the information required in the bourse's letter of March 24,
2005, the Company informed the following to the bourse:

(1) The name of the Petitioner is Oka Concrete Industries Sdn.
Bhd. and the Winding-Up Petition was served on Lankhorst
Pancabumi Contractors Sdn. Bhd. (LPCSB) on February 12, 2005.

(2) The claim was in respect of the balance outstanding for the
supply of sub-porous pipes and RC pipes for our Putrajaya
project for the amount of MYR177,928.47 with interests at 1.5%
per month from 1-11-2000 and costs of MYR2,531.00.

(3) LPCSB had made monthly installment payments of MYR15,000.00
from August 2003 and this was paid right up till January 2004,
but unfortunately, due to its cashflow problem, it was not able
to fulfill the said obligations.

(4) The total cost of investment in LPCSB is MYR25,000,000.

(5) The winding-up petition is not expected to have any
financial or operational impact on the Company.

(6) There are no expected losses arising therefrom.

(7) Prior to the Company being granted a Restraining Order (RO)
under Section 176 of the Companies Act, LPCSB has proposed
settlement by way of contra of lands, but that was not agreed
upon by the Petitioner.

(8) The date of the hearing has been postponed to September 9,
2005.

On the information required in your letter of April 6, 2005, the
Company informed the following to the bourse:

(1) The name of the Petitioner is Woun Hin Sdn. Bhd. and the
winding-up petition was first served on LPCSB on October 7, 2004
but was withdrawn after LPCSB negotiated settlement with them

(2) The claim is in respect of amount due for rental of
equipment for LPCSB's projects for the amount of MYR245,894.00
with interests at 8 percent p.a. from 13-3-2003 and costs of
MYR10,296.82.

(3) Arising from the negotiation for settlement, LPCSB had made
3 payments of MYR15,000, RM20,000 and 35,000 respectively,
amounting to MYR70,000 leaving a balance of MYR175,894.00.

Unfortunately, due to its tight cashflow position, the payments
were stopped and pending a renegotiation on a proposal for
contra of properties, the Petitioner advertised the notice on
April 6, 2005.

(4) The total cost of investment in LPCSB is MYR25,000,000.

(5) The winding-up petition is not expected to have any
financial or operational impact on the Company.

(6) There are no expected losses arising therefrom.

(7) Prior to the Company being under Section 176 of the
Companies Act, LPCSB has proposed settlement by way of contra of
lands, and the Petitioner was amiable into that proposed
settlement.

(8) In view of the Restraining Order under Section 176, the
hearing date fixed for 5th July 2005 will be postponed to
another date to be fixed by the Court.

This announcement has been endorsed by the Board of Directors.

To view a copy of the Query Letter, click
http://bankrupt.com/misc/LankhorstBerhad070505.doc

CONTACT:

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


MAXIS COMMUNICATIONS: Bourse to List Additional Shares
------------------------------------------------------
Maxis Communications Berhad issued additional 29,000 new
ordinary shares of MYR0.10 each issued pursuant to the Employee
Share Option Scheme will be granted listing and quotation with
effect from 9:00 a.m., Thursday, July 7, 2005.

CONTACT:

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


MERCES HOLDINGS: Payment Default Status Unchanged
-------------------------------------------------
The Board of Directors of Merces Holdings Berhad informed Bursa
Malaysia Securities Berhad that there has been no further
development or changes in status with respect to the default in
payment.

Details of the default in payment of the principal sum and
interests previously announced on October 4, 2004 has been
updated in the Table A attached.

To view a full copy of Table A, click
http://bankrupt.com/misc/MercesHoldingsTableA.doc

This announcement is dated 5th July 2005.

CONTACT:

Merces Holdings Bhd.
Malaysia
Phone: 60 3 2072 8100
Fax: 60 3 2072 8101


MTD CAPITAL: Purchases 69,500 Shares on Buy Back
------------------------------------------------
MTD Capital Berhad informed Bursa Malaysia Securities Berhad
that it bought back 69,500 ordinary shares of MYR1.00 each on
July 5, 2005.
   
Minimum price paid for each share purchased MYR2.200 and maximum
price paid for each share purchased MYR2.290. Total
consideration paid is MYR157,667.70. The number of shares
purchased retained in treasury (units) is 69,500.  Cumulative
net outstanding treasury shares as at to-date (units) totaled
17,266,400.

CONTACT:

MTD Capital Berhad  
Batu 8 Jalan Batu Caves
Lot 8359 Mukim of Batu
Batu Caves, Selangor Darul Ehsan 68100
Malaysia  
Telephone: +60 3 6189 9022/ +60 3 6187 7898  
Web site: http://www.mtdcap.com/


NORTHERN UTILITY: Tenaga Nasional Concludes Acquisition
-------------------------------------------------------
Tenaga Nasional Berhad (TNB) issued to Bursa Malaysia Securities
Berhad an update on the proposed acquisition of the business of
Northern Utility Resources Sdn Berhad (Receivers and Managers
Appointed), NUR Generation Sdn Berhad (Receivers and Managers
Appointed) and NUR Distribution Sdn Berhad (Receivers and
Managers Appointed).

(1) Introduction

Tenaga Nasional Berhad (TNB) advised the bourse that it has
entered into a conditional Sale of Business Agreement (the
Agreement) with:

(a) Northern Utility Resources Sdn Bhd (Receivers and Managers
Appointed) (NUR);

(b) N.U.R. Generation Sdn Bhd (Receivers and Managers
Appointed)(NUR Generation); and

(c) N.U.R. Distribution Sdn Bhd (Receivers and Managers
Appointed)(NUR Distribution)

collectively the Vendors.

The Agreement is for the acquisition of the business of NUR, NUR
Generation and NUR Distribution by TNB for a cash consideration
of MYR1000 million. The purchase price of MYR1000 million was
arrived at on a "willing-buyer, willing-seller" basis after
taking into consideration the estimated values of the Business.

(2) Salient Terms and Conditions of the Agreement

The salient terms of the Agreement is as follows

(a) The Agreement involves the purchase of the business of
generating, supplying and distributing electricity to the
occupants of the Kulim Hi-Tech Park (KHTP) and which includes
the business records & information, contracts (to be selected by
TNB, to be assigned or novated to it), goodwill, power plant,
plant and equipment, property lease, licences, permits, plant
land, intellectual property rights and wayleave agreements (if
any).

The power plant above refers to the gas-fired power plant with a
nominal capacity of 220MW together with all equipment,
appliances, parts, instruments, appurtenances, accessories,
infrastructure development, buildings and/ or other structures
on or attached to the plant land.

Plant and equipment includes the plant, equipment, machinery and
tools (other than those comprised within the description of the
power plant), spares and inventories, fuel stock, goods and
equipment paid for but yet to be delivered, motor vehicles,
fittings, chattels, office furniture and other assets, and sub-
stations and distribution network.

(b) A sum of 10% of the purchase consideration or RM100 million
(which forms part of the total purchase consideration) will be
deposited with a stakeholder within 2 business days of the
Agreement.

(c) There are no liabilities to be assumed by TNB under the
Proposed Acquisition.

(d) TNB has the option to or right to seek the Vendors to
transfer the Business to such entity (a special purpose vehicle
Company) to be nominated by TNB.

The Agreement is subject to amongst others the following
conditions:

(a) The satisfactory outcome of due diligence exercise to be
undertaken by TNB on the Business.

(b) The execution of a settlement agreement and the EPC Contract
having been completed at the Vendors' cost with the power plant
and the plant equipment handed over to the Vendors as prescribed
and governed by the EPC Contract and Settlement Agreement,
Licenses, Permits and laws and in good working order for
production.

(c) The Vendors to secure the approvals or consents of the
relevant authorities for the transfer of the Licenses to TNB.

(d) Delivery by the Vendor to TNB of all relevant and / or
applicable approvals from public authorities for the transfer of
the plant land to TNB.

(e) All sums due and payable under contracts as at completion
which is outstanding have been or will be settled prior to the
completion date.

(f) The Vendors to procure the consent of the relevant
counterparties to the assignment of the contracts, the property
lease, wayleave agreements and the EPC Contract.

(g) If required, the approvals or consents of the relevant
public authorities having been obtained by the Vendors to the
satisfaction of TNB for the Proposed Acquisition.

The parties shall have 90 days from the date of the Agreement to
fulfill or waive the conditions precedent (or such other period
to be mutually agreed by the parties).

(3) Rationale

NUR was conceptualized by the Government of Malaysia as a
utility licensed to operate as an Independent Power Utility in a
specific franchise area (i.e. the KHTP) providing the full
complement of generation, transmission and distribution of
electricity. Whilst the generation assets of NUR Generation have
yet to be fully commissioned for operations, NUR Distribution
had sourced electricity from TNB under a bulk supply arrangement
and distributed to the customers in KHTP.

Notwithstanding that the generation assets have yet to be fully
commissioned, they have been kept under preservation to maintain
its functionality. The tenants located within KHTP currently
consume approximately 60 MW of electricity.

The Proposed Acquisition represents an opportunistic investment
for TNB to secure primarily the existing generating capacity of
220MW of NUR Generation as well as the transmission and
distribution business and assets. The generation assets will be
completed and fully commissioned prior to completion of the
Agreement.

The Proposed Acquisition will enable TNB to consolidate the
generation capacity of NUR into its overall generation capacity
without a need to enter into a power purchase agreement. The
additional capacity from the generation assets of NUR Generation
has already been factored into the latest Generation Planting Up
Programme of TNB and approved by the Jawatankuasa Perancangan
dan Perlaksanaan Pembekalan Elektrik dan Tariff of the
Government of Malaysia and is slotted for intake into the
National Grid.

As an option in the future, TNB could operate the generation
assets of NUR as an independent unit such as of TNB Janamanjung
and Kapar Energy Ventures with a separate and arms-length power
purchase agreement incorporating a more competitive tariff rate
without construction risk and its own project financing
arrangement.

The acquisition of the distribution business would provide TNB
with a new customer base in the KHTP franchise area comprising
technology-based companies. TNB is confident that the customer
base at KHTP will expand in the near future with customers such
as Infineon AG establishing their manufacturing facilities in
KHTP. The distribution business is already a revenue generating
business with monthly revenue currently estimated at
approximately MYR5.6 to MYR5.9 million.

With the completion of the Proposed Acquisition, the uncertainty
surrounding the supply of electricity to the tenants of KHTP
will be resolved and further enhance the stature of KHTP as a
leading industrial park (in terms of the reliability and
security of electricity supply) to attract future foreign direct
investments.

(4) Financial Effects

TNB will finance the Proposed Acquisition from its internal cash
balances and/or bank borrowings.

The Proposed Acquisition does not have any effect on the issued
and paid-up capital and it will not have any material effect on
the current earnings for the financial year ending August 31,
2005.

The Proposed Acquisition will not have any effect on the
shareholdings in TNB nor on the NTA of TNB or the TNB Group.

(5) Directors/Substantial Shareholders Interests

None of the Directors of TNB and/or substantial shareholders
and/or persons connected to them have any interest, direct or
indirect in the Proposed Acquisition.

(6) Directors' Recommendation

The Directors of TNB, having considered all aspects of the
Proposed Acquisition, are of the opinion that the Proposed
Acquisition is in the best interest of the Company.

This announcement is dated 5th July 2005.


PANTAI HOLDINGS: Repurchases 159,000 Ordinary Shares
----------------------------------------------------
Pantai Holdings Berhad posted at the Government Gazette,
Electronic Edition a notice of shares buy back dated July 5,
205.

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

Total number of shares purchased (units): 159,000

Minimum price paid for each share purchased (RM): 0.970

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

Total consideration paid (RM): 157,320.45

Number of shares purchased retained in treasury (units): 159,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 35,433,300

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


CONTACT:

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


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

DMCI HOLDINGS: Turns Over Condo Project
---------------------------------------
DMCI Homes, the real estate affiliate of DMCI Holdings Inc., has
turned over Phase 1 of Bonifacio Heights to the Armed Forces of
the Philippines (AFP), according to The Manila Bulletin.
Bonifacio Heights is a medium-rise condominium development in
Fort Bonifacio exclusively for the Armed Forces personnel.

This project is jointly undertaken by the Housing and Urban
Development Coordinating Council (HUDCC), Home Development
Mutual Fund, Department of National Defense, AFP and DMCI Homes.
Unique to a DMCI Homes development, Bonifacio Heights boasts of
the finest home designs, first class amenities and ideal
neighborhood at a price that is merely a fraction of prevailing
costs in the areas adjacent to it.

DMCI Homes, utilizing internal funds, has already completed
Phase 1 in a matter of five months. Fast-paced construction
allowed immediate completion of 220 walkup condominium units
that are now ready for occupancy. Fifteen more buildings are
soon to be constructed and turned over to AFP.

Pag-IBIG will then provide a mechanism to facilitate the take-
out of the project through a special window for AFP personnel.
Bonifacio Heights gives the members of the AFP the opportunity
to live in the premier neighborhood of Fort Bonifacio.

CONTACT:

DMCI Holdings Incorporated
3/F, Dacon Building
2281 Chino Roces Ave. Ext.
Makati City 1231
Telephone:  888-3000
Fax:  816-7362
E-mail Address: dmcihi@dmcinet.com
Web site: http://www.dmchi.com


NATIONAL FOOD: Wants to Reassess Grains Procurement Policy
----------------------------------------------------------
The National Food Authority (NFA) wishes to reassess its present
concept of buying and selling grains because it contributes to
the state agency's mounting losses, according to The Philippine
Star.

NFA said the government's mandate to let the agency buy grains
at above market price from farmers and distributing these at
cheaper prices to consumers, has left it absorbing losses of as
much as Php7 billion annually.

In order to cut losses, the NFA is planning to downsize its
operations nationwide, which would initially involve the loss of
500 jobs.

Such move is expected to be opposed by the NFA Employees
Association (NFAEA), which for years, has been able to stave off
attempts to trim the organization.

NFA's planned streamlining is in line with Executive Order 366,
which directed government agencies to review their
organizational structure and create schemes to improve
operations and efficiencies and to cut losses.

CONTACT:

National Food Authority
101 E. Rodriguez Sr. Ave.,
Quezon City, 1100
Philippines
Web site: http://www.nfa.gov.ph/


NATIONAL POWER: ERC OKs New Subsidized Rates for NPC-SPUG Areas
---------------------------------------------------------------
The Energy Regulation Commission (ERC) has approved the revised
subsidized rates for the Small Power Utilities Group (SPUG) that
the National Power Corporation (NPC) will delegate to private
investors, The Manila Bulletin says.

The revised guidelines reportedly softened the level of
subsidies for facilities set for privatization in the NPC-SPUG
areas, which are currently subsidized heavily.

The amended guidelines are aimed at setting and adjusting the
true cost of generation charges for the so-called NPC SPUG-
delegated areas which are to be serviced by new private
providers (NPPs) of electricity.

As discussed in public hearings, it was proposed that in each of
the delegated NPC-SPUG areas, "the NPPs shall be allowed to
recover the true cost of generation rate."

With provisions for an acceptable subsidized generation rate,
consumers are expected to be better equipped to pay their bills.

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/


NATIONAL POWER: PSALM Bags Financing Deal from ADB
--------------------------------------------------
The Asian Development Bank (ADB) has agreed to help bankroll the
funding requirements of state-run National Power Corporation
(Napacor), The Manila Standard reports.

The landmark agreement inked by the national government would
provide a credit of up to US$450 million to the Power Sector
Assets and Liabilities Management (PSALM), the government agency
tasked to privatize Napocor's assets.

The loan, which will be co-financed by other creditors,
including the Japan Bank for International Cooperation (JBIC),
will also fund the proposed power sector development program
that will help address the negative impact of Napocor's finances
on fiscal situation.

ADB plans to extend a partial credit guarantee that will support
refinancing of some Napocor loans on softer terms. The
assistance will also include an investment component and partial
credit guarantees to deal with the credit risk of energy off-
takers in the electricity spot market.

The direct credit was in line with ADB's commitment to assist
the government in restructuring the country's power sector.


NATIONAL TRANSMISSION: Completes Cebu-Leyte Project
---------------------------------------------------
The province of Cebu may not experience power shortages in the
next few years once the National Transmission Commission
(Transco) completes its Leyte-Cebu Interconnection Upgrading
project, The Freeman relates.

Transco has finished laying three 230 kilovolts of submarine
cables, three weeks after President Gloria Macapagal-Arroyo
launched it.

The successful project is expected to prevent brownouts by
boosting the energy supply of Cebu.

The upgrading of the Leyte-Cebu interconnection project costs
Php3.7 million and is expected to be operational by September.
The project will double the transmission of geothermal power
from Leyte from the present 200 megawatts to 400 megawatts and
would provide power to substation facilities in Compostela and
Daanbantayan in Cebu and Tabango, Leyte.

Meanwhile, the completion of the Cebu-Mactan interconnection,
another Transco project, is expected to this November.

The Php2.2-billion project was also launched by President Arroyo
in October last year and is expected to avert further power
shortages in Lapu-Lapu City and the whole Mactan island.

Transco officials had opined that Cebu might have to suffer
occasional power shortages for a few more years, as demand for
power in the Visayas continues to grow at seven percent a year.
The new projects should provide power enough to prevent future
power problems.

CONTACT:

National Transmission Corporation
Power Center BIR Road, cor. Quezon Avenue
Diliman, Quezon City
Telephone: (02) 9812100
Web site: https://www.transco.ph


PLATINUM PLANS: To Shift Into Marketing Ops
-------------------------------------------
Platinum Plans aims to transform itself into a marketing firm
should its rehabilitation plan succeed, according to The
Philippine Daily Inquirer.

The beleaguered pre-need provider recently filed a petition for
rehabilitation before the Makati Regional Trial Court.

In its petition, Platinum proposed to venture into the
distribution of products and services of other companies,
including credit cards, personal loans and health-related
programs. Commissions from the marketing operations would then
be used to meet future obligations to plan holders worth an
estimated Php300 million.

Last week, the firm filed a petition for suspension of payments
of debts and tuition obligations due to financial difficulties.
It has also asked the court to appoint a rehabilitation
receiver.

Meanwhile, the Securities and Exchange Commission (SEC) said
Platinum's case was out of its hands.

SEC officials also said the SEC was waiting for the Makati RTC's
order for it to issue its comments on the case.

CONTACT:

Platinum Plans Philippines Inc.
10/F The World Center
330 Sen. Gil Puyat Avenue
Makati City
E-mail: els@platinumplans.com


PLATINUM PLANS: Watchdog Moves to Review Obligations
----------------------------------------------------
The corporate regulator is set to review its options for
Platinum Plans Inc., which sought court protection last week,
according to Business World.

The Securities and Exchange Commission (SEC) will look into the
reportorial obligations of the ailing pre-need firm.

Platinum Plans, led by the family of former banker Ernesto
Salas, last week asked a Makati Regional Trial Court to allow it
to suspend payments to 37,000 plan holders and creditors as it
undergoes rehabilitation.

SEC secretary Gerard Lukban said the Commission cannot stop pre-
need companies filing for rehabilitation.

"That is a redress for (troubled) companies and the SEC cannot
stop them from doing so," said Mr. Lukban.

He dismissed concerns that such actions may spur more pre-need
firms to resort to rehabilitation to avoid settling their
obligations.

Moreover, Mr. Lukban explained Platinum's case is different from
that of Pacific Plans, which filed for rehabilitation in April
without first informing the SEC. He said Platinum is reportedly
only illiquid, while Pacific's case is about misappropriation of
funds.

The SEC will issue a comment for the court on Platinum's move
once the commission receives a copy of the petition.


PLATINUM PLANS: SEC Mulls Charges Against Management
----------------------------------------------------
The Securities and Exchange Commission (SEC) is studying a
possible legal action against the owners of Platinum Plans Inc.
over alleged misappropriation of funds, reports The Philippine
Star.

SEC Chairman Fe Barin stressed Platinum's application to
rehabilitate will not stop the commission from investigating the
pre-need firm from imposing necessary sanctions against the firm
and its management.

The SEC has been receiving complaints from the public against
Platinum Plans for delayed or non-payment of maturing
obligations. The pre-need firm has also been accused of issuing
bouncing checks.

Platinum has also been found to have failed to remit monthly
deposits to its trust fund in violation of the rules of pre-need
firms. The firm's trust fund is made up mostly of real estate.
It also failed to submit its audited financial statements and
actuarial valuation report for 2004.

Based on SEC records, Platinum has an actuarial reserve
liability of Php470.1 million as against trust fund assets of
Php192.76 million, resulting to a trust fund deficiency of
Php277.34 million.


* Fitch Revises RP's Rating Outlook to Negative From Stable
-----------------------------------------------------------
Fitch Ratings, the international rating agency, has revised the
Outlook on the Long-term foreign currency and Long-term local
currency ratings of the Republic of the Philippines to Negative
from Stable. At the same time, the agency affirmed those ratings
at 'BB' and 'BB+' respectively and also affirmed the country's
Short-term foreign currency rating at 'B' and Country Ceiling at
'BB'.

The Outlook revision reflects both the heightened political
uncertainty in the Philippines and the challenges in the Supreme
Court to the Expanded Value-Added Tax (EVAT) Act of 2005, part
of which was to have been implemented on 1 July. Instead of a
number of value-added tax exemptions being eliminated as
planned, the EVAT is subject to a Temporary Restraining Order
pending the Supreme Court's decision on whether the legislation
is constitutional. A rating downgrade could be triggered by
protracted delays in the Supreme Court decision, an eventual
decision was that the EVAT legislation is unconstitutional, or
continued political disorder.

"The Temporary Restraining Order was a major setback for the
centerpiece of the government's fiscal reform programme,
especially given that no timeframe has been set for a court
decision," said James McCormack, Senior Director in Fitch's
Sovereign Group. "The EVAT is critical to enhancing the
Philippines' medium-term fiscal prospects and improving its
public debt sustainability."

Fitch believes that in the context of the current political
turmoil, it is open to question whether the weakened leadership
will commit the necessary political capital to resolving the
EVAT issue soon. Moreover, the political situation may prove
detrimental to the Philippines' broader economic performance, as
well as consumer and investor sentiment and developments in
financial markets.

Contact: James McCormack, Hong Kong +852 2263 9925; Ai Ling
Ngiam +852 2263 9913


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

ADVANCED ELASTOMER: Creditors Must Submit Proofs of Claim Aug. 8
----------------------------------------------------------------
Notice is hereby given that the creditors of Advanced Elastomer
Systems Marketing Pte Limited, which is being wound up
voluntarily, are required on or before Aug. 8, 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 liquidators of the Company.

If so required by notice in writing by the said liquidators 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. In default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

Dated this 8th day of July 2005

Neo Ban Chuan
Yeap Lam Kheng
Liquidators
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581


HUA KOK: Invests in Hong Kong, Singapore Firms
----------------------------------------------
Hua Kok International Limited announced that the Company
acquired the entire paid-up capital of the following firms:

1) Prosperity Steel Singapore Pte Limited, with an authorized
share capital of SGD10 million, and paid up capital of SGD1, is
engaged in supply chain management, trading, resources mining
and exploration.

2) PSA Macao Commercial Offshore Limited has an authorized share
capital of MOP100,000 and a paid-up capital of MOP30,000. The
firm deals with cotton, mineral and steel products, as well as
resources mining and exploration.

The Company's investment in both firms is not expected to
materially affect its net tangible assets or earnings per share
for the current fiscal year, though such investments are
necessary to diversify the Company's operations into trading and
resource mining.

CONTACT:

Hua Kok International Ltd
32 Sungei Kadut Way
Hua Kok Industrial Building
Singapore 728787
Phone: 65 63625667
Fax:   65 63685593
Web site: http://www.huakok.com.sg


INFORMATICS HOLDINGS: Revises Net Loss, Shareholders' Deficit
-------------------------------------------------------------
Informatics Holdings Limited announced on July 7, 2005 that it
revised its net loss for the financial year ended March 31,
2005, reports Dow Jones.

In its revised financial accounts, the Company posted a net loss
if SGD70.3 million instead of the SGD67.1 million net loss
previously reported, while the Company's net shareholders'
deficit is higher at SGD11.1 million instead of SGD7.9 million.

Informatics Holdings discovered its mistake when it completed a
reconciliation exercise earlier in the month. According to the
Company, the difference was due to the underestimated accrual
for university fees in nationwide school operations, due to fee
increases and differences in foreign exchange.

Informatics Holdings Limited operates computer training schools
in Singapore.

For further details on the Company's financial report, go to:
http://bankrupt.com/misc/InformaticsHoldings1.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


IPC CORPORATION: Says New Investment Will Not Affect Earnings
-------------------------------------------------------------
IPC Corporation Limited announced that with regard to its last
announcement on July 7, 2005, in relation to the Company's
investment in Zhuhai Costa del Sol Club Management Co., such
investment is not expected to affect the Company's net tangible
assets or earnings per share for the financial year ending Dec.
31, 2005 in any way.

CONTACT:

IPC Corporation Limited
23 Tai Seng Drive
IPC Building
Singapore 535224
Phone: 65 67442688
Fax:   65 67430691
Web site: http://www.ipc.com.sg


REGION AIR: Intends to Pay Dividend This Month
----------------------------------------------
Region Air Pte Limited 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. 177 of 2003
Last Day for Receiving Proofs: July 22, 2005
Name & Address of Liquidators: Kon Yin Tong and Wong Kian Kok
Foo Kon Tan Grant Thornton
47 Hill Street, #05-01 Chinese Chamber of Commerce & Industry
Building, Singapore 179365

Dated this 8th day of July, 2005.

CONTACT:

Region Air Pte Limited
C/o 47 Hill Street
#05-01 Chinese Chamber of Commerce & Industry Building
Singapore 179365


WANT WANT: Incorporates Chinese Subsidiaries
--------------------------------------------
Want Want Holdings Limited announced that the Company has
incorporated the following wholly owned subsidiaries in China:

1) Luohe Want Want Real Estate Co., Limited, is located in Henan
Province, Luohe City, with a registered capital of USD6 million
(SGD10.18 million) and is engaged in property development and
sales & consultancy services, among others.

2) Anging Want Want Real Estate Co., Limited is located in the
Changjiang Daqiao Comprehensive Economic Development Zone in
Anging City, Anhui Province, and deals with property
development, sales and consultancy, leasing and management. The
firm's registered capital is USD15 million (SGD25.46 million).

3) Zhejiang Ming-Want Dairy, Limited, is located in the Quzhou
Economic Devlopment Zone in Zhejiang Province, with a registered
capital of USD5 million (SGD8.5 million), and is engaged in the
manufacture and sales of dairy and vegetable products.

The incorporation of the subsidiaries is not expected to have
any material effect on the Company's earnings per share for the
financial year ending Dec. 31, 2005.

CONTACT:

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


YONGNAM HOLDINGS: Selects New Chief Financial Officer
-----------------------------------------------------
Yongnam Holdings Limited announced that the Company has
appointed Mr. See Khing Lim as its Chief Financial Officer. Mr.
Lim replaced Mr. Andrew King Yu effective July 8, 2005.

CONTACT:

Yongnam Holdings Limited
51 Tuas South Street 5
Singapore 637644
Phone: 65 67581511
Fax:   65 67580753
Web site: http://www.yongnam.com.sg


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

DATAMAT: Welcomes New Co-CEO
----------------------------
Datamat Public Company Limited furnished the Stock of Thailand
(SET) with important issues approved during its meeting on July
7, 2005 at 6:00 p.m.

(1) Approved the minute of the Board of Director's Meeting No.
8/2548, which was held on June 14, 2005;

(2) Appointed Mr. Rathapol Bhakdibhumi to be the Co-Chief
Executive Officer with Mr. Bhana Swasdibutara, the Company's
Chief Executive Officer and Managing Director, effective July 7,
2005 onwards.

Yours sincerely,
Bhana Swasdibutara
Chief Executive Officer and Managing Director

CONTACT:

Datamat Public Company Limited   
Asoke Towers, Floor 17, 18 And 19,
219 Soi Asoke (Sukhumvit 21),
Sukhumvit Road, Klongtoey Nua,
Watthana Bangkok    
Telephone: 0-2310-5111   
Fax: 0-2319-8208   
Web site: http://www.datamat.co.th


PACIFIC ASSETS: Postpones EGM to Augusts 8
------------------------------------------
On behalf of Pacific Assets Public Company Limited, the board of
directors unveiled to the Stock Exchange of Thailand (SET) the
resolutions of its meeting held on July 8, 2005:

(1) To approve the postponement of the date of Extraordinary
General Meeting of Shareholders No. 1/2005 from July 29, 2005 to
August 8, 2005 at 1:00 p.m.

The venue for the meeting will be notified to the invited
shareholders through letter. Agenda for the meeting will remain
unchanged that will be in accordance with the resolution of the
Board of Directors No. 10/2005 held on June 24, 2005.

The Board of Directors resolved to postpone the date of
Extraordinary General Meeting of Shareholders because the Board
found out that there has been some delay in the process of
preparing documents and the Financial Statements of the Company
as at June 30, 2005 (unaudited by the auditor but acknowledged
by the Board of the Directors), including relevant information
to be used by the independent financial advisor in order to
provide opinion.  

All these documents which are the information on the Connected
Transaction and the Acquisition and Disposal of Assets as
required by the notice of the Stock Exchange of Thailand are
required to be submitted to the Stock Exchange of Thailand and
the shareholders before the Shareholders' Meeting.  In order
that the shareholders could get full and complete information,
the postponement is, therefore required.

(2) To acknowledge that Lehman Brothers (Thailand) Limited
already deposited USD3 million into escrow on July 8, 2005
according to the condition stated in the Engagement Letter which
had been disclosed to the investors and the Stock Exchange of
Thailand.

Please be informed accordingly,

Sincerely yours,
Pacific Assets Public Company Limited
Mr. Tanes Kasemsuwan
Assistant Chief Executive Officer

CONTACT:

Pacific Assets Public Company Limited   
Two Pacific Place, Floor 23,
142 Sukhumvit Road,
Khlong Toei, Bangkok  
Telephone: 0-2254-9900   
Fax: 0-2254-9909, 0-2254-9287


TANAYONG: Reduces Unpaid Share Capital
--------------------------------------
Pursuant to the Central Bankruptcy Court's orders on May 30,
2005 on the approval of the business reorganization plan of
Tanayong Public Company Limited and appoint the Company to be
the plan administrator, the Company advised the Stock Exchange
of Thailand (SET) that:
   
On July 7, 2005 the Company, by the order of the Central
Bankruptcy Court, has reduced unpaid share capital and amended
the memorandum of association article 4 from registered share
capital of THB4,684,557,000 to registered share capital of
THB3,677,468,400 divided to 367,746,840 shares.
   
Please be informed accordingly.
   
Yours sincerely,
Mr. Sudha Liptawat/Mr.Rangsin Kritalug
By Tanayong Public Company Limited
On behalf of the Plan Administrator of
Tanayong Public Company Limited   

CONTACT:

Tanayong Public Company Limited   
100-100/1 Moo 4, Km.14,Bangna-Trat Road,
Bang Plee, Samut Prakarn    
Telephone: 0-2273-8511-15   
Fax: 0-2273-8516-17   
Web site: http://www.tanayong.co.th



* S&P Revises Finance Groups' Ratings on Strong Fundamentals
------------------------------------------------------------
Standard & Poor's Ratings Services has assigned Bank Fundamental
Strength Ratings (BFSRs) on 110 banks in the Asia-Pacific region
(see Table 1).

BFSRs complement Standard & Poor's counterparty credit ratings
(CCR) on banks by providing an indicator of the intrinsic credit
profile of the bank. In other words, BFSRs indicate the prospect
that a bank would need to seek external assistance in the event
of financial distress. The BFSR doesn't presume any potential
capital contribution from the regulator or government.

Not surprisingly, the strongest banks, denoted by having BFSRs
of B+ assigned to them, are located in the more stable banking
systems in Australia, Hong Kong, Singapore and New Zealand. Next
in line are some of the leading banks in Japan, Malaysia and
Taiwan, with BFSRs of 'B'.

A substantial congregation of Asia-Pacific banks reside at the
'C+' BFSR level, just above the midpoint of the nine-point BFSR
scale. These include the majority of rated banks in Hong Kong,
Japan, Korea and Taiwan. The remaining BFSR categories of 'C'
and below contain those banks in the developing markets of
China, India, Indonesia, Philippines and Thailand.

Bank Fundamental Strength Ratings Introduced

Standard & Poor's introduction of BFSRs in the Asia-Pacific is
in response to considerable interest from the investment
community for such a rating. A BFSR represents Standard & Poor's
opinion of a bank's fundamental strength or, more specifically,
what has previously been informally called a "status quo" rating
on the bank.

A BFSR is Standard & Poor's assessment of what a single legal
entity within a group would be rated incorporating the benefits
or burdens of being part of the group, including such things as
access to group distribution, involvement of group management,
access to group resources (excluding capital contributions), and
the benefit or detriment of the group's financial flexibility.
Inherently, a BFSR represents an intermediate step in Standard &
Poor's process of assigning CCRs on banks.

Standard & Poor's said in relation to Malaysian bank Maybank,
that its has continued to demonstrate consistent improvements in
its key credit fundamentals, underpinned by better asset
quality, while maintaining strength in its capital position, at
a level commensurate with its ratings. The bank's sound
financial profile is supported by above-industry-average quality
of its loan portfolio, which had consistently demonstrated a
strengthening trend.

"Such improvement is mainly a result of the bank's better loan
recoveries, restructuring of loans and write-offs of NPL," said
Standard & Poor's credit analyst Adrian Chee. Ratio of gross
nonperforming assets (NPA; on three-months overdue basis) to
loans improved to 9.6% in March 2005, from 10.4% and 11.6% in
June 2004 and June 2003, respectively. The bank's provisioning
practices have remained prudent, and consequently, its net NPA
ratio stood at about 3% as at March 2005. The bank's underlying
profitability, as denoted by its ratio of preprovision net
operating income (NOI) to average assets, had remained
comfortable at 2.36%.

Although the bank's net interest income (NII) margin declined to
2.68% in March, it remained satisfactory. The bank's
preprovision net operating income is further supported by its
strong base of recurring noninterest income, which accounted for
31% of total revenue. Maybank's capitalization, as denoted by
its ratio of adjusted common equity to assets (ACE ratio), is
strong at 8.77% as at March 2005.

Table 1 Bank Fundamental Strength Ratings Assigned

                                                 BFSR
Australia

1 Adelaide Bank Ltd.                             C+
2 Australia and New Zealand Banking Group Ltd.   B+
3 Bank of Queensland Ltd.                        C+
4 Bendigo Bank Ltd.                              C+
5 Commonwealth Bank of Australia                 B+
6 Macquarie Bank Ltd.                            B
7 National Australia Bank Ltd.                   B+
8 St.George Bank Ltd.                            B
9 Suncorp-Metway Ltd.                            B
10 Westpac Banking Corp.                         B+

China

11 Bank of China                                 D+
12 Bank of Communications                        D+
13 China Construction Bank                       D+
14 Industrial and Commercial Bank of China       D

Hong Kong

15 Bank of China (Hong Kong) Ltd.                C+
16 Bank of East Asia Ltd.                        C+
17 Dah Sing Bank Ltd.                            C+
18 DBS Bank (Hong Kong) Ltd.                     B
19 Fubon Bank (Hong Kong) Ltd.                   C+
20 Hang Seng Bank Ltd.                           B+
21 Hongkong and Shanghai Banking Corp Ltd.       B+
22 Wing Hang Bank Ltd.                           C+

India

23 ICICI Bank Ltd.                               C
24 Industrial Development Bank of India          D+
25 State Bank of India                           C

Indonesia

26 P.T. Bank Danamon Indonesia Tbk               D+
27 P.T. Bank Internasional Indonesia             D
28 P.T. Bank Mandiri (Persero)                   D+
29 P.T. Bank Negara Indonesia (Persero) Tbk      D

Japan

30 77 Bank Ltd.                                  B
31 Aozora Bank Ltd.                              C+
32 Ashikaga Bank Ltd.                            E
33 Bank of Fukuoka Ltd.                          C+
34 Bank of Kyoto Ltd.                            B
35 Bank of Tokyo-Mitsubishi Ltd.                 B
36 Bank of Yokohama Ltd.                         B
37 Chiba Bank Ltd.                               C+
38 Chugoku Bank Ltd.                             B
39 Chuo Mitsui Trust & Banking Co. Ltd.      C
40 Daishi Bank Ltd.                              C+
41 Gunma Bank Ltd.                               C+
42 Hachijuni Bank Ltd.                           C+
43 Higo Bank Ltd.                                B
44 Hiroshima Bank Ltd.                           C
45 Hokuriku Bank Ltd.                            C
46 Hyakugo Bank Ltd.                             B
47 Iyo Bank Ltd.                                 B
48 Japan Trustee Services Bank Ltd.              B
49 Joyo Bank Ltd.                                B
50 Juroku Bank Ltd.                              C+
51 Kagoshima Bank Ltd.                           B
52 Keiyo Bank Ltd.                               C+
53 Master Trust Bank of Japan Ltd.               B
54 Mitsubishi Trust & Banking Corp.              B
55 Mizuho Bank Ltd.                              C+
56 Mizuho Corporate Bank Ltd.                    C+
57 Mizuho Trust & Banking                        C+
58 Nanto Bank Ltd.                               C+
59 Nomura Trust & Banking Co. Ltd.               C+
60 Norinchukin Bank                              B
61 ORIX Trust & Banking Corp.                    B
62 Resona Bank Ltd.                              C
63 Shinkin Central Bank                          B
64 Shinsei Bank Ltd.                             C+
65 Shizuoka Bank Ltd.                            B+
66 Sumitomo Mitsui Banking Corp.                 C+
67 Sumitomo Trust & Banking Co. Ltd.             B
68 Toho Bank Ltd.                                C+
69 UFJ Bank Ltd.                                 C
70 UFJ Trust Bank Ltd.                           C
71 Yamaguchi Bank Ltd.                           C+

South Korea

72 Kookmin Bank                                  C+
73 Shinhan Bank                                  C+
74 Chohung Bank                                  C+
75 Hana Bank                                     C+
76 Woori Bank                                    C+
77 Korea Exchange Bank                           C+

Malaysia

78 AmMerchant Bank Berhad                        C
79 Bumiputra-Commerce Bank Berhad                C+
80 Commerce International Merchant Bankers Bhd.  C
81 Malayan Banking Berhad                        B
82 Public Bank Berhad                            B
83 RHB Bank Berhad                               C
New Zealand
84 ASB Bank Ltd.                                 B+
85 ANZ National Bank Ltd.                        B+
86 Bank of New Zealand Ltd.                      B+

Philippines

87 Banco de Oro Universal Bank                   D
88 Equitable-PCI Bank Inc.                       D
89 Metropolitan Bank & Trust Co.                 D
90 Rizal Commercial Banking Corp.                D

Singapore

91 DBS Bank Ltd.                                 B+
92 United Overseas Bank Ltd.                     B+
93 Oversea-Chinese Banking Corp. Ltd.            B+

Taiwan

94 Bank of Taiwan                                C+
95 Bank SinoPac                                  C+
96 Cathay United Bank Co. Ltd.                   C+
97 Chiao Tung Bank                               C+
98 China Development Industrial Bank             B
99 Chinatrust Commercial Bank                    C+
100 Farmers Bank of China                        D+
101 First Commercial Bank Ltd.                   C+
102 International Commercial Bank of China       B
103 Land Bank of Taiwan                          C+
104 Taipei Fubon Commercial Bank Co. Ltd.        C+

Thailand

105 Bangkok Bank Public Co. Ltd.                 C
106 Bank of Ayudhya Public Co. Ltd.              C
107 Bank of Asia Public Co. Ltd.                 D+
108 Kasikornbank Public Co. Ltd.                 C
109 Krung Thai Bank Public Co. Ltd.              D+
110 Siam Commercial Bank Public Co. Ltd.         C


BOND PRICING: For the Week 11 July to 15 July 2005
--------------------------------------------------

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


AUSTRALIA
---------

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
Babcock & Brown Pty Ltd               8.500%     2/28/49    9
Babcock & Brown Pty Ltd               8.500%    12/31/49    9
Becton Property Group                 9.500%     6/30/10    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    7
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
Kiwi Income Property Trust            8.000%     6/30/10    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
Riversdale Mining Ltd                 8.000%    12/31/05    1
Salomon SB Australia                  4.250%     2/01/09    8
Sapphire Securities Ltd               7.410%     9/20/35    7
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    7
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

  KOREA
  -----

Korea Electric Power Corp             7.950%     4/01/96   50  


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    4
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    1
Tanah Emas Corporation Bhd            2.000%     12/09/06    1
Talam Corporation Bhd                 7.000%      7/19/05    1
Talam Corporation Bhd                 7.000%      4/19/06    1
Tap Resources Bhd                     2.000%      6/29/06    1
Tenaga Nasional Bhd                   3.050%      5/10/09    1
Time Engineering Bhd                  2.000%     12/25/05    1
Tradewinds Corporation Bhd            2.000%      2/08/12    1
VTI Vintage Bhd                       4.000%      8/22/06    1
WCT Land Bhd                          3.000%      8/02/09    1
Wah Seong Corp                        3.000%      5/21/12    3


SINGAPORE
---------

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




                            *********


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

Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey
Resnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan, Reiza
Dejito and Erica Fernando, Editors.

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
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contained herein is obtained from sources believed to be
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                 *** End of Transmission ***