TCRAP_Public/050718.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

             Monday, July 18, 2005, Vol. 8, No. 140

                            Headlines


A U S T R A L I A

AIR NEW ZEALAND: Accepting Director Nominations from July 19
ALLAN ANDREW: Creditors to Receive Dividend Next Month
AST APPLICATION: Members Opt to Wind Up Operations
AUSTRAL COAL: Panel Further Extends Stay of Orders
AUSTRAL COAL: Panel Declines Review Application

BRISBANE ENTERPRISES: To Declare Dividend July 27
CANBERRA CONCRETE: Appoints Official Liquidator
CAPE LOVETT: Supreme Court Orders Wind Up
CORE VISION: To Pay Dividend to Priority Creditors
CTA INTERNATIONAL: Creditors Confirm Liquidator?s Appointment

CUBE CAPITAL: Unveils Results of Annual General Meeting
CUBE CAPITAL: Sells Financial Division to Branson Holdings
DAVID COLES: Begins Liquidation Process
DEXENNE PTY: To Convene Members' Final Meeting July 29
FOCUS ON PIZZA: Schedules Final Meeting of Members, Creditors

GTP PTY: Members Opt for Voluntary Liquidation
INDUSTRY?S CLOTHING: Members Pass Winding Up Resolution
KIA-ORA PASTORAL: Liquidator to Detail Wind Up Manner
MCINDOE PASTORAL: Begins Winding Up Process
MEDIA LABS: Receivers Bow Out

NATIONAL AUSTRALIA: Clydesdale Closures Push Through
ONE.TEL LIMITED: Second Expert's Report Suffers Blow
SUMIKIN BUSSAN: Set to Declare Dividend July 19
THE COLONNADES: Members, Creditors to Hear Liquidator?s Report
TRANSOL CORPORATION: Placed In Receivers' Hands

TVW INVESTMENTS: Liquidator to Explain Wind-up Process July 25
VEBW PTY: Creditors Must Submit Proofs of Debt by July 22
WILLIAM ALASTAIR: To Distribute Dividend to Creditors
* Perth Financial Adviser Permanently Banned


C H I N A  &  H O N G  K O N G

ABC MULTIACTIVE: 1H05 Net Loss Widens to HK$2.8 Mln
AKUP INTERNATIONAL: HKSE to Delist Shares on July 27
CENTRILINE ASIA: Creditors Asked to Prove Debts by July 29
CHINA EASTERN: Warns of More Losses
CHINA FORCE: Sees First Half Net Loss

CHINA UNICOM: Unit Offers US$1.2-Bln CP
CHINA UNICOM: Director Clarifies Restructuring Plan Report
E-COMMERCE CHINA: Releases Debt Claim Notice
FORTUNE COMPUTER: High Court Issues Winding Up Order
G-VISION: Widens FY05 Net Loss to HK$19.938 Mln

INDUSTRIAL AND COMMERCIAL: Racks Up CNY41.6-Bln Operating Profit
ISTEELASIA HOLDINGS: Notes Increase in Trading Volume of Shares
JASPER TECHNOLOGY: Creditors Meeting Set July 21
JILIN CHEMICAL: Notes Unusual Volume Movement
KINGSWOOD TRADING: Creditors' Proofs of Debt, Claim Due July 29

MOULIN GLOBAL: Faces Shares Manipulation Probe
ON YUEN: Creditors, Contributories Meeting Fixed July 26
PICC PROPERTY: Unlikely to Recover Government Bonds in Full
SENTEX INTERNATIONAL: Winding Up Hearing Slated for August 17
SKY EARTH: Wind-up Process Initiated

SPEEDY EXPRESS: Enters Liquidation Process
UNOCAL PACIFIC: Proofs of Claim Due July 29
VAST VISION: Begins Bankruptcy Proceedings


I N D O N E S I A

PERUSAHAAN LISTRIK: Seeks to Buy LNG from Papua Block
TELEKOMUNIKASI INDONESIA: Submits Annual Report Before Deadline


J A P A N

JAPAN AIRLINES: Plans Six More Domestic Routes Next Year
JAPAN TOBACCO: Names New Advisory Committee Member
MATSUSHITA ELECTRIC: To Spend JPY10 Bln on Chinese Plant
MITSUBISHI MOTORS: Faulty Brakes Launch Eclipse Recall
MITSUI & COMPANY: Sagawa Acquires Thai Unit

SEIBU RAILWAY: Pension Fund Group Files JPY4.26-Bln Suit
* Teikoku Says 253 Companies? Debts Forgiven in 2004


K O R E A

DAEWOO GROUP: Prosecutor to Hunt Missing Documents in Britain
HYUNDAI MOTOR: To Recall 23,026 Cars


M A L A Y S I A

ACP INDUSTRIES: Unit to Receive Payments of MYR9,500,000.00
ANCOM BERHAD: Purchases 226,400 Shares on Buy Back
HAP SENG: Buys Back 12,000 Shares
KRAMAT TIN: Appeals SC's Decision
LION CORPORATION: Unveils Recurrent Transaction

MALAYSIAN AIRLINE: Likely to Face Another Probe
MBF HOLDINGS: Court Fixes Date of Summary Judgment Decision
METROPLEX BERHAD: Court Adjourns Wind Up Petition Hearing
NALURI BERHAD: Concludes TSSB Acquisition
OMEGA HOLDINGS: Amends Restructuring Scheme Proposal

PILECON ENGINEERING: To Convene Meeting Next Month
POLY GLASS: Should Submit Plan Within Given Timeframe
PUNCAK NIAGA: Bourse Grants Listing, Quotation of Shares
TT RESOURCES: Compels Purchaser to Pay Outstanding Contribution
WAH SEONG: Details Unit's Joint Venture Agreement


P H I L I P P I N E S

ENRON SUBIC: Disputes Tax Deficiency Bill
IMPERIAL RESOURCES: Seeks to Erase IT Losses
MANILA ELECTRIC: Clients May Not Get Actual Refunds Until Sept.
NATIONAL DEVELOPMENT: Prepares Php3-Bln Bond Float
NATIONAL DEVELOPMENT: Idle Asset Sale to Generate Php600 Mln

NATIONAL FOOD: Secures Enough Rice Supply for Public
NATIONAL FOOD: DOF Projects Ballooning Deficit in 2005
* 13 Davao Firms Closed Doors as of May


S I N G A P O R E

ASIA PACIFIC LOADING: Creditors' Proofs of Debt Due Aug. 8
BOYED PTE: Receiving Proofs of Claim Until August 8
ENERLUTION INTERNATIONAL: Creditors to Convene First Meeting
HWA HUP: Court Issues Winding Up Order
INFORMATICS HOLDINGS: Notes Increase in Trading Volume

INTEGRATED DATA: Enters Voluntary Liquidation
OKOKU REAL: Wind Up Process Initiated
SMRT CORPORATION: Passes All AGM Resolutions
VICTORY PARK: Ordered to Close Operations


T H A I L A N D

PAE THAILAND: Names New Chairman of Board
PAE THAILAND: Unveils Board of Directors' Composition
PICNIC CORPORATION: Details Utilization of Sale Proceeds
PICNIC CORPORATION: Unit Acquires Pride Logistics
THAI PETROCHEMICAL: PTT Chief Says Founder Still Has Rights

     -  -  -  -  -  -  -  -

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

AIR NEW ZEALAND: Accepting Director Nominations from July 19
------------------------------------------------------------
Air New Zealand advised that its annual meeting will be held in
Auckland at Sky City Convention Centre on Wednesday, 19 October
2005. The time and other details relating to the meeting will be
advised in the Notice of Meeting to be sent to all shareholders.

In accordance with NZSX Listing Rule 3.3.2 and ASX Listing Rule
14.3, Air New Zealand advises that the opening date for director
nominations will be Tuesday, 19 July 2005 and the closing date
for director nominations will be 5.00pm on Wednesday, 31 August
2005.

Only persons who meet the requirements set out in Air New
Zealand's constitution and the Companies Act 1993 are eligible
to become directors of Air New Zealand. Eligibility criteria for
becoming a director of Air New Zealand that are contained in Air
New Zealand's constitution include board composition
requirements relating to New Zealand residence and citizenship.
A copy of Air New Zealand's constitution is available online at:
www.airnzinvestor.com.

Nominations may only be made by a security holder entitled to
attend and vote at the annual meeting and should be directed to
the Company Secretary at Air New Zealand, Private Bag 92007,
Auckland.

Election of a new director requires the approval of a majority
of the votes cast by shareholders voting at the annual meeting.

CONTACT:

Air New Zealand Limited
Air New Zealand Airpoints Service Centre
Private Bag 4755
Christchurch
New Zealand
Phone: +64 (0)9 488 8777
Fax: +64 (0)9 488 8787
E-mail: enquiry@computershare.co.nz
Web site: http://www.airnz.co.nz/


ALLAN ANDREW: Creditors to Receive Dividend Next Month
------------------------------------------------------
Allan Andrew Transport Pty Limited will declare a first and
final dividend to its priority and unsecured creditors on Aug.
11, 2005.

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

Dated this 21st day of June 2005

R. M. Sutherland
Liquidator
Jirsch Sutherland
Chartered Accountants
Level 2, 84 Pitt Street
Sydney NSW 2000
Phone: (02) 9233 2111
Fax:   (02) 9233 2144


AST APPLICATION: Members Opt to Wind Up Operations
--------------------------------------------------
Notice is hereby given that, at a General Meeting of Members of
AST Application Pty Limited held on June 3, 2005, it was
resolved that the company be wound up voluntarily and that for
such purpose, Neil Geoffrey Singleton and Anthony Milton Sims,
of SimsPartners, Chartered Accountants, Level 24, 264 George
Street, Sydney NSW be appointed joint and several liquidators. A
meeting of creditors confirmed that appointment.

Dated this 9th day of June 2005

Neil G. Singleton
Anthony Milton Sims
Joint Liquidators
SimsPartners
Chartered Accountants
Level 24, 264 George Street
Sydney NSW 2000


AUSTRAL COAL: Panel Further Extends Stay of Orders
--------------------------------------------------
The Takeovers Panel announced that it has further extended the
stay of Orders 1,2,3 and 5 of the Orders dated July 1, 2005 in
relation to the Austral Coal Limited 02 matter to July 22, 2005.

These orders relate to, respectively, Glencore's disclosure of
its swap arrangements with CSFB and ABN AMRO, the Restoration
Offer, Glencore's right to close out the Swaps in part if
required to give effect to the Restoration Offer, and the
advertisement of the Restoration Offer.

The Panel would also like to advise that the sitting Panel for
the Austral Coal Limited 02 (review) proceedings comprises,
Professor Ian Ramsay (sitting President), Mr. Norman O'Bryan SC
(sitting Deputy President) and Mr. David Gonski AO.

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


AUSTRAL COAL: Panel Declines Review Application
-----------------------------------------------
The Takeovers Panel advised that its President has declined to
grant consent under section 657EA(2) of the Corporations Act
2001 to a review of the Panel's decision in the Austral Coal
Limited 03 proceedings, following receipt of a review
application dated July 12 2005 from Glencore International AG.

The Panel will publish the reasons for the President's decision
on its web site in due course.

CONTACT:

Nigel Morris
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne VIC 3000
Phone: +61 3 9655 3501
E-mail: nigel.morris@takeovers.gov.au


BRISBANE ENTERPRISES: To Declare Dividend July 27
-------------------------------------------------
A dividend is to be declared on July 27, 2005 for Brisbane
Enterprises Pty Limited.

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

Dated this 6th day of May 2005

Ginette Muller
Liquidator
KordaMentha (Qld)
22 Market Street, Brisbane Qld 4000
Phone: (07) 3225 4000
Fax:   (07) 3225 4999


CANBERRA CONCRETE: Appoints Official Liquidator
-----------------------------------------------
Notice is hereby given that, at a General Meeting of Members of
Canberra Concrete Plumbing Pty held on June 2, 2005, it was
resolved that the company be wound up voluntarily and that Colin
Imrie of Hollands & Partners, Certified Practicing Accountants,
Level 1, 17 Barry Drive, Canberra ACT, be appointed liquidator
for the winding up.

Dated this 10th day of June 2005

Colin Imrie
Liquidator
Hollands & Partners
Certified Practising Accounts
Level 1, 17 Barry Drive
Canberra ACT 2601


CAPE LOVETT: Supreme Court Orders Wind Up
-----------------------------------------
On June 9, 2005, the Supreme Court of New South Wales, Equity
Division, made an Order that Christopher J. Palmer be appointed
Official Liquidator for the winding up of Cape Lovett Pty
Limited (formerly known as Handpicked Pty Limited).

Dated this 21st day of June 2005

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


CORE VISION: To Pay Dividend to Priority Creditors
--------------------------------------------------
A first and final dividend is to be declared on July 26, 2005
for the Core Vision Creditors' Trust.

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

Dated this 9th day of June 2005

Mervyn J. Kitay
Trustee
Grant Thornton
Level 6, 256 St George's Terrace
Perth WA 6000


CTA INTERNATIONAL: Creditors Confirm Liquidator?s Appointment
-------------------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of the members of CTA International Holding Pty Limited held on
3 June 2005, it was resolved that the company be wound up
voluntarily, and at a meeting of creditors held on the same day,
Richard John Cauchi and David James Lofthouse of CJL Partners,
Level 3, 180 Flinders Lane, Melbourne were appointed Joint and
Several Liquidators for the winding up.

Dated this 6th day of June 2005

Richard J. Cauchi
David J. Lofthouse
Joint Liquidators
CJL Partners
Level 3, 180 Flinders Lane
Melbourne Vic 3000
Phone: (03) 9639 4779
Fax:   (03) 9639 4773


CUBE CAPITAL: Unveils Results of Annual General Meeting
-------------------------------------------------------
Cube Capital Limited advised that the following resolutions on
the agenda for the Nineteenth Annual General Meeting of
Shareholders held in Wellington on 30 June 2005 were passed:

Ordinary Business

1. To receive and confirm the minutes of the Eighteenth Annual
General Meeting as held at the Copthorne Hotel, Plimmer Towers,
Wellington on 30 June 2004.

2. To re-elect director Mr. Wayne Noel Johnson as a director of
the Company. Mr. Johnson retires in accordance with Company
Constitution and offers himself for re-election. Mr. Johnson is
not an independent director.

3. To record appointment of Horwath Wellington Audit as auditors
of the Company under section 200(1) of the Companies Act 1993
and authorize the directors of the Company to fix their
remuneration for the ensuing year.

Special Business

4. To consider, and if thought fit, pass a resolution, as a
special resolution, that the Company's Constitution be altered
by deleting the current constitution in its entirety and
replacing it with the version tabled and initialed by the
Chairman at the Annual Meeting.

For the Board;
BB Campbell
Secretary to the Board

CONTACT:

Cube Capital Limited
67-69 Nicholson Street
St Leonards NSW 2065 Australia
PO Box 1375
Lane Cove NSW 2066
Australia
Phone: (AU) 1300 65 90 90
        (NZ) 0800 55 00 22
Web site: www.cubecapital.co.nz


CUBE CAPITAL: Sells Financial Division to Branson Holdings
----------------------------------------------------------
Cube Capital Limited (Cube) advised that it has completed an
agreement to sell its financial services division, Cube
Financial Group (CFG), to Branson Holdings Limited.

The consideration payable is $1,000 but Cube will retain an
investment in $600,000 of Redeemable Preference Shares that are
repayable over 2 years with 6.5% interest. In addition, Cube
will be released from any ongoing obligations it has in relation
to CFG, including an effective underwriting commitment in
respect of CFG's Australian business.

Executive Chairman, Simon Wallace, said "CFG primarily operates
in Australia which remains a tough market for an embryonic
financial services business. While its prospects remain sound,
more capital and scale is needed and the Cube board believes
that there are better opportunities for the company in New
Zealand. The board will consider opportunities for the listed
shell and we hope to be able to make further announcements in
the not too distant future."

The sale is effective from 30 June 2005 and has been completed
today with formal documents finalized.

In additional news Cube confirms that it will complete the issue
of 1,350,000 shares to Baroda Hill Investments Limited a company
associated with Wayne Johnson and the entity with whom Cube has
been contracted, as approved by shareholders in June 2002. This
will satisfy all obligations between Baroda Hill Investments and
Wayne Johnson and Cube.

Wayne Johnson will continue as an independent Director of Cube
and as Managing Director of the separated CFG.

Cube will utilize treasury shares of 902,605 (from the sale of
Traveltech in 2004) and issue 447,395 new shares in settlement
of its contractual obligations to Baroda Hill Investments and
Wayne Johnson.

Following this issue Cube will have 44,839,818 shares on issue.

For further information contact:

Simon Wallace
Executive Chairman
Cube Capital Ltd.
Telephone: 029 444 7213
E-mail: simon.wallace@cubecapital.co.nz


DAVID COLES: Begins Liquidation Process
---------------------------------------
At a general Meeting of the Members of David Coles Enterprises
Pty Limited duly convened and held on June 6, 2005, the
following special resolution was duly passed:

That the Company begin liquidation proceedings under a Members
Voluntary Winding Up, and that Ronald Leslie Male of 220
Chesterville Road, Moorabbin, Victoria, 3189 be appointed
Liquidator for such purpose.

Dated this 6th day of June 2005

R. L. Male
Liquidator
220 Chesterville Road
Moorabbin, Victoria 3189


DEXENNE PTY: To Convene Members' Final Meeting July 29
------------------------------------------------------
Notice is given that a meeting of members of Dexenne Pty Limited
will be held on July 29, 2005, 10:30 a.m. at the offices of The
Business Physician Pty Limited, Suite 2 Level 5, 460 Church
Street, North Parramatta NSW, for the following reasons:

AGENDA

To have an account laid before the meeting showing the manner in
which the winding up was conducted and the property of the
company disposed of, and hearing any explanation that may be
given by the Liquidator.

Dated this 14th day of June 2005

John C. Burke
Liquidator
The Business Physician Pty Limited
Suite 2, Level 5, 460 Church Street
North Parramatta NSW 2151


FOCUS ON PIZZA: Schedules Final Meeting of Members, Creditors
-------------------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Focus on Pizza Pty Limited will be held on Friday,
July 29, 2005, 11:00 a.m. at the office of Nicholls & Co.,
Chartered Accountants, Suite 6, 459 Peel Street, Tamworth NSW
2340, to receive the Liquidator's account showing how the
winding up was conducted and the property of the company
disposed of, and hearing any explanation which may be given by
the Liquidator.

Dated this 10th day of June 2005

A. R. Nicholls
Liquidator
Nicholls & Co
Suite 6, 459 Peel Street
Tamworth NSW 2340


GTP PTY: Members Opt for Voluntary Liquidation
----------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of GTP (NSW) Pty Limited held on June 6, 2005, it was
resolved that the company be wound up voluntarily and at a
meeting of creditors held on the same day pursuant to Section
497, it was resolved that for such purpose, Richard Herbert
Judson of Judson & Co., Chartered Accountants, Level 1, 10 Park
Road, Cheltenham be appointed liquidator.

Dated this 6th day of June 2005

Richard H. Judson
Liquidator
Judson & Co.
Chartered Accountants
Suite 4, Level 1, 10 Park Road
Cheltenham Vic 3192
Phone: 9585 4155


INDUSTRY?S CLOTHING: Members Pass Winding Up Resolution
-------------------------------------------------------
At a General Meeting of Industry?s Clothing Pty Limited duly
convened and on June 3, 2005, the following Special Resolution
passed:

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

Dated this 3rd day of June 2005

Peter Rowen Mann
346 Carrington Street
Adelaide SA 5000


KIA-ORA PASTORAL: Liquidator to Detail Wind Up Manner
-----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Law, the final meeting of members of Kia-Ora
Pastoral Company Pty Limited will be held on Aug. 10, 2005,
11:30 a.m. at 143 Bourke Street, Goulburn, NSW 2580, for the
purpose of laying before the meeting the liquidator's final
account and report and giving an explanation thereof.

Dated this 3rd day of June 2005

Douglas J. G. Macculloch
RSM Bird Cameron Partners
143 Bourke Street, Goulburn NSW 2580
Phone: (02) 4821 1066


MCINDOE PASTORAL: Begins Winding Up Process
-------------------------------------------
Notice is hereby given that on June 13, 2005, the sole member of
Mcindoe Pastoral Proprietary Limited passed a Special Resolution
that the company be wound up voluntarily, and G. M. Rambaldi was
appointed Liquidator for such purpose.

Dated this 14th day of June 2005

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


MEDIA LABS: Receivers Bow Out
-----------------------------
Notice is hereby given that George Georges and Peter Damien
McCluskey, receivers and managers of the property of Media Labs
Limited, ceased to act as such on June 7, 2005.

Dated this 7th day of June 2005

George Georges
Peter D. McCluskey
Ferrier Hodgson
Level 29 600 Bourke Street
Melbourne, Vic 3000
Phone: 9600 4922


NATIONAL AUSTRALIA: Clydesdale Closures Push Through
----------------------------------------------------
National Australia Bank (NAB) will proceed with the closure of
60 branches of its Clydesdale Bank in Scotland, according to
Newsquest Media.

NAB has decided to go ahead with the closures despite
condemnation by a group of MSPs. The bank stressed that the
program was a well-thought strategy and was not up for debate.

NAB sparked a furious response from trade unions and some
politicians last month when it confirmed that Scotland would
bear the brunt of a UK-wide branch closure program.

Glasgow-based Clydesdale is axing 60, mainly rural, branches,
out of a 217-strong network, while its sister institution
Yorkshire Bankwill shut 40 of its 232 branches.

CONTACT:

National Australia Bank Ltd.
Level 24, 500 Bourke Street,
Melbourne, Victoria, Australia, 3000
Head Office Telephone: (03) 8641-4160
Head Office Fax: (03) 8641-4927
Web site: http://www.national.com.au/


ONE.TEL LIMITED: Second Expert's Report Suffers Blow
----------------------------------------------------
The judge hearing the civil case against One.Tel founder Jodee
Rich and former finance director Mark Silbermann has thrown out
a second expert's report, according to the Sydney Morning
Herald. Justice Robert Austin rejected most of a report by a
PricewaterhouseCoopers partner and forensic accountant, Paul
Carter.  The report?s remains will be subjected to legal
argument in the NSW Supreme Court later this month by
defendants?counsel.

Justice Austin has already pored over the PwC report and
eliminated most of its findings on the basis that many of the
conclusions about One.Tel's financial position in the months
prior to its May 2001 collapse were based on assumption rather
than fact. The dismissal of a second expert's report by a
partner with McGrath Nicol & Partners, Murray Smith, is a
further blow to the Australian Securities and Investments
Commission's case.

The corporate regulator is attempting to ban Mr. Rich and Mr.
Silbermann from managing companies and is seeking compensation
of AU$92 million.  The case, originally scheduled for a three-
month hearing last year, is moving at a glacial pace and is now
in its tenth month.  Justice Austin did not give reasons for his
decision to strike out the Smith report but said he would do so
later.



SUMIKIN BUSSAN: Set to Declare Dividend July 19
-----------------------------------------------
Sumikin Bussan Coal Australia Pty Limited will declare a first
and final dividend on July 19, 2005.

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

Dated this 14th day of June 2005

Simon A. Wallace-Smith
Salvatore Algeri
Liquidators
c/- Deloitte Touche Tohmatsu
180 Lonsdale Street
Melbourne, Vic 3000


THE COLONNADES: Members, Creditors to Hear Liquidator?s Report
--------------------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001, that a joint meeting of the members and creditors of The
Colonnades at the Quay Pty Limited will be held on Monday, July
25, 2005, 11:00 a.m. at the offices of Horwath Sydney
Partnership, for the purpose of having an account laid before
them showing the manner in which the winding up has been
conducted and the property of the company disposed of, and of
hearing any explanations that may be given by the Liquidator.

Dated this 10th day of June 2005

Neil R. Cussen
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000
Phone: (02) 9372 0777
Fax:   (02) 9372 0606


TRANSOL CORPORATION: Placed In Receivers' Hands
-----------------------------------------------
Anthony Milton Aims and Neil Geoffrey Singleton of SimsPartners
were appointed Joint Receivers and Managers of Transol
Corporation Limited on July 14, 2005, pursuant to the provisions
contained in a registered debenture charge created by the
Company.

The appointment as Receivers and Managers follows the
appointment of Voluntary Administrators by the Company on July
14, 2005.

CONTACT:

Anthony Sims
SimsPartners
Level 24, Australia Square
264 George Street
Sydney NSW 2000
Phone: (02) 9241 3422
Fax: (02) 9241 3922


TVW INVESTMENTS: Liquidator to Explain Wind-up Process July 25
--------------------------------------------------------------
Notice is hereby given pursuant to Section 509(1) of the
Corporations Act 2001, that a general meeting of the members of
TVW Investments Pty Limited will be held on July 25, 2005, 10:30
a.m. at the office of PPB, Level 10, 90 Collins Street,
Melbourne, Vic 3000, for the purpose of having an account laid
before them showing the manner in which the winding up has been
conducted and the property of the company disposed of, and
hearing any explanation that may be given by the liquidator.

Andrew McClellan
Liquidator
TVW Investments Pty Ltd
PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


VEBW PTY: Creditors Must Submit Proofs of Debt by July 22
---------------------------------------------------------
Notice is hereby given that the creditors of VEBW Pty Limited,
whose debts or claims have not already been admitted, are
required on or before July 22, 2005 to prove their debts or
claims, and to establish any title they may have to priority by
delivering or sending to the liquidator (through post) a formal
proof of debt or claim in accordance with Form 535 or 536
containing their respective debts or claims. Failure to do so by
the deadline would exclude the creditor(s) from the benefit of
any distribution made before their debts or claims are proved or
their priority is established and from objecting to the
distribution.

Dated this 9th day of June 2005

Allan W. Donald, FCA
Liquidator
Level 8, 37 York Street
Sydney NSW 2000


WILLIAM ALASTAIR: To Distribute Dividend to Creditors
-----------------------------------------------------
William Alastair Constructions Pty Limited is set to declare a
first and final dividend on July 20, 2005.

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

Dated this 19th day of June 2005

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


* Perth Financial Adviser Permanently Banned
--------------------------------------------
The Australian Securities and Investment Commission (ASIC) has
permanently banned Mr. Geoffrey David Sanders, of Kingsley in
Western Australia, from providing financial services.

Mr. Sanders, trading as Acclaim Group, acted as an insurance
agent for a number of insurance companies from the early 1990s.
Mr. Sanders also acted as an authorized representative of
Guardianfp Limited from March 2004, until Guardianfp withdrew
Mr. Sanders' authority in September 2004.

ASIC banned Mr. Sanders after finding that there is reason to
believe he would not comply with financial services laws in the
future.

ASIC also found Mr. Sanders:

(1) Had falsified documentation to disguise the fact that he had
misused approximately $200,000 of clients' funds;

(2) Had dishonestly engaged in conduct, including the creation
of a fictitious person, that was intended to mislead the persons
to whom he provided financial advice; and

(3) Had the propensity to take financial advantage of clients
and engage in unconscionable conduct in connection with the
supply of financial services.

"ASIC will take action to ensure that participants in the
financial services industry act honestly and with integrity when
dealing with clients," ASIC's Executive Director of Enforcement,
Ms Jan Redfern said.

"It's critical that consumers are aware of their rights in
relation to the financial services industry. There is a large
amount of information available on ASIC's consumer website at
www.fido.gov.au that aims to help and which we encourage people
to access," Ms Redfern added.

Mr. Sanders has the right to lodge an application with the
Administrative Appeals Tribunal for a review of ASIC's decision.


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

ABC MULTIACTIVE: 1H05 Net Loss Widens to HK$2.8 Mln
---------------------------------------------------
ABC Multiactive Limited (8131) disclosed its financial results
for the year ended May 31, 2005.

Year-end date: 30/11/2005
Currency: HKD
Auditors' report: N/A
2nd Quarterly Report Reviewed by: Audit Committee

                                   (Unaudited)   (Unaudited)
                                 Current  Last  Corresponding
                                  Period          Period
                               from 01/12/2004   from 01/12/2003
                                to 31/05/2005     to 31/05/2004
                                   $'000           $'000

Turnover                 :         10,469            10,622
Profit/(Loss) from Operations:     (2,298)             (379)
Finance cost                 :     (535)             (572)
Share of Profit/(Loss) of Associates: 0                 0
Share of Profit/(Loss) of Jointly
         Controlled Entites         : 0                 0
Profit/(Loss) after Taxation & MI: (2,833)             (951)
% Change Over the Last Period    :  N/A
EPS / (LPS)
          Basic (in dollar)      : HKD (0.0176)        HKD
(0.0059)
          Diluted (in dollar)    :  N/A               N/A
Extraordinary (ETD) Gain/(Loss)  :  0                 0
Profit (Loss) after ETD Items    :(2,833)             (951)
2nd Quarter Dividends per Share  :  NIL               NIL
(specify if with other options)  :  N/A               N/A
B/C Dates for 2nd Quarter Dividends: N/A
Payable Date                     :   N/A
B/C Dates for (-) General Meetingl:  N/A
Other Distribution for Current Period: NIL
B/C Dates for Other Distribution     : N/A
                                 (bdi: both days inclusive)

For and on behalf of
abc Multiactive Limited

Signature:
Name: Cheung, Siu Leong
Title: Company Secretary

Remarks:

1. Basis of presentation

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

HKICPA has issued a number of new and revised Hong Kong
Financial Reporting Standards and Hong Kong Accounting Standards
(new HKFRSs), which are effective for accounting periods
beginning on or after 1st January 2005.

The Group has not early adopted these new HKFRSs in the
financial statements for the six months ended 31st May 2005. The
Group has already commenced an assessment of the impact of these
new HKFRSs but is not yet in a position to state whether these
new HKFRSs would have a significant impact on its results of
operations and financial position.

The unaudited consolidated results for the six months ended May
31, 2005 have not been audited by the Company's auditors, but
have been reviewed by the Company's audit committee.

The accounting policies and basis of preparation used in the
preparation of the unaudited consolidated results for the six
months ended May 31, 2005 are consistent with those used in the
Company's annual financial statements for the year ended
November 30, 2004.

2. Basic loss per share

The calculation of basis loss per share for the three and six
months ended May 31, 2005 was based on the unaudited net loss
for the period of approximately HK$ 2,238,000 and HK$ 2,833,000
respectively (Three months and six months ended 31st May 2004:
net loss of HK$ 2,755,000 and HK$ 951,000 respectively), and the
weighted average of 160,590,967 ordinary shares of HK 0.10 each
in issue during the period.

Diluted loss per share has not been presented as there was no
dilutive potential ordinary share in existence during the
periods.

CONTACT:

ABC Multiactive Limited
17/F Regent Centre
88 Queen's Road
Central, Hong Kong
Phone: 25982888
Fax: 28682083
Web site: http://www.abcmultiactive.com


AKUP INTERNATIONAL: HKSE to Delist Shares on July 27
----------------------------------------------------
The Stock Exchange of Hong Kong Limited (the Exchange) announced
that the listing of the shares of Akup International Holding
Limited (8179) will be cancelled with effect from 9:30 a.m. on
July 27, 2005 pursuant to Rule 9.14 of the GEM Listing Rules.

Dealings in the shares of the Company have been suspended since
February 5, 2004. On November 30, 2004, the Exchange announced
that it proposed to exercise its right to cancel the listing of
the shares of the Company on the Exchange.

The Company was given a period of six months (expired on May 29,
2005) for the submission of a viable resumption proposal and to
remedy those matters that gave rise to the Exchange?s proposal
to cancel the listing of the Company, and the Company was
required to submit such resumption proposal at least 10 business
days as defined in the GEM Listing Rules before the expiry of
the six-month period.

As the Company had failed to submit a viable resumption proposal
as required, the GEM Listing Committee decided to cancel the
listing of the Company?s shares pursuant to Rule 9.14 of the GEM
Listing Rules.

The Exchange advises shareholders of the Company who have any
queries about the implications of the delisting to obtain
appropriate professional advice.

CONTACT:

Akup Internatinal Holdings Limited
Unit 906, 9th Floor
Asia Orient Tower
Town Place, 33 Lockhart Road
Wan Chai, Hong Kong
Phone: 28667980
Fax: 28667199
Web site: http://www.akup.com


CENTRILINE ASIA: Creditors Asked to Prove Debts by July 29
----------------------------------------------------------
Notice is hereby given that the creditors of Centriline Asia
Limited, which is being compulsorily wound up, are required on
or before July 29, 2005 to send their names and addresses, full
particulars of their debts and claims, and the names and
addresses of their solicitors (if any) to the Liquidators of the
Company at 5/F Allied Kajima Building, 138 Gloucester Road,
Wachai, Hong Kong.

If so required by notice in writing from the said Liquidators,
either by themselves or by their solicitors, they are 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 before such debts are proved.

Dated this 15th day of July 2005.

David John Kennedy
Stephen Briscoe
Joint and Several Liquidators
Presented by: Alvarez & Marsal Asia Limited


CHINA EASTERN: Warns of More Losses
-----------------------------------
China Eastern Airlines Corporation Limited (670) makes this
announcement as required under the relevant provisions of the
Shanghai listing rules and regulations, and in compliance with
the requirements of Rule 13.09(2) of the Hong Kong Listing
Rules.

In the first half of 2005, aviation fuel price continued to
increase and maintained at a comparatively high level. Based on
information currently available to the Company and preliminary
unaudited calculations made in accordance with the PRC
Accounting Standards and Regulations (PRC GAAP), it is estimated
that the Company and its subsidiaries (the Group) will suffer a
financial loss for the six-month period ended June 30, 2005.
(The Company attained net profit of approximately
RMB582,467,000, with earnings per share of approximately
RMB0.1197, under PRC GAAP for the same period in 2004.)

The above estimate is made and announced as required under the
relevant provisions of the Shanghai listing rules and
regulations. Such estimate, which is neither audited nor
reviewed by the Company?s auditors, is prepared under PRC GAAP,
and may (or may not) differ materially from the actual results
of the Group prepared under the International Financial
Reporting Standards.

Shareholders of the Company and public investors are therefore
cautioned not to place undue reliance on the estimate, but
should exercise caution when dealing in the
Company?s shares.

The detailed interim results of the Group for the six-month
period ended June 30, 2005 will be provided in the 2005 interim
results announcement to be made by the Company by August 30,
2005.

As of December 31, 2004, China Eastern Airlines Corporation has
current assets of HK$4.870 billion while current liabilities
stood at HK$16.5 billion, according to Chong Hing Securities
Ltd.

CONTACT:

China Eastern Airlines Corporation
5/ F Mcdonald's Building 48 Yee Wo Street
Causeway Bay, Hong Kong
Phone: 8621-62686268
Fax: 8621-62686116
Web site: http://www.ce-air.com


CHINA FORCE: Sees First Half Net Loss
-------------------------------------
China Force Oil & Grains Industrial (1194) issued a profit
announcement pursuant to rule 13.09 of The Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong Limited
(the Listing Rules).

The Company and its subsidiaries (together, the Group) are
principally engaged in fractionation, refining, sale and trading
of edible oil products in the People?s Republic of China (the
PRC).

Since the publication of the audited annual results for the
financial year ended December 31, 2004, the performance of the
Group has been materially and adversely affected by certain
extremely unfavorable market conditions. Hence, the Board
expects the Group to record a net loss for the six months ended
June 30, 2005. A brief summary of such market conditions and
their implications on the Group are set forth below:

1. As part of its ordinary business, the Group purchases crude
soyabean oil from international suppliers, and resells or
processes at the Group?s production facilities into different
kinds of refined soyabean oil for sale in the PRC market. The
prices of the Group?s raw materials (crude soyabean oil) are
affected by international market conditions, whereas the spot
prices of the end products (refined soyabean oil) are affected
by the market conditions in the PRC market.

2. In the past, the Group entered into exchange-traded future
contracts in its normal course of business to mitigate the
effect of any price fluctuations in raw materials (crude
soyabean oil) and end products (refined For example, after the
Group confirming purchase orders of crude soyabean oil with
international suppliers, it may employ future contracts of
soyabean and soyabean oil traded on the Chicago Board of Trade
(?CBOT?) to offload its net position in soyabean oil. In the
past, spot prices of refined soyabean oil in the PRC were highly
correlated with the future prices of soyabean oil traded on
CBOT. Hence, such hedging transactions were effective in
mitigating price fluctuation risk of crude soyabean oil and
maintaining a stable gross profit per tonne of the Group?s ref
ined soyabean oil.

3. Contrary to the strong price correlation, since the end of
February 2005, the spot prices of refined soyabean oil in the
PRC declined, whereas during the same period, the future prices
of crude soyabean oil quoted on the CBOT surged. This reverse
trend continued in the second quarter of 2005.

According to the Group?s risk management policy, the Group
employs future contracts of soyabean and soyabean oil traded on
the CBOT as hedging instruments with the sole intention to
reduce the risk of raw material price fluctuations. However,
such hedging transactions were not able to achieve the same
results during February to April 2005, when the international
futures prices of soyabean oil moved in the opposite direction
to the spot selling prices in the PRC. Such phenomenon was
further confirmed in May and June this year, when the futures
prices of crude soyabean oil quoted on CBOT were consistently
higher than the domestic prices of refined soyabean oil in the
PRC.

As a result, the Group?s performance during the period was
materially and adversely affected and was further worsened by
the unexpected loss from the future contracts entered into by
the Group (which were originally intended to offset the effect
of decline in spot prices). Due to the unexpected market
conditions, the Group squared off almost all future contracts in
February to April 2005 and recorded additional realized loss.

In light of the foregoing, the Board expects the Group to record
a net loss for the six months ended June 30, 2005. The Group's
results for the six months ended June 30, 2005 have yet to be
finalized and hence, the Board is currently not able to quantify
precisely the financial impact on the Group following the above-
mentioned extremely unfavorable market conditions. The Board
expects to publish the results before the end of September 2005
pursuant to the requirements under the Listing Rules
Shareholders (the Shareholders) of the Company and investors are
advised to exercise extreme caution in dealings in the shares of
the Company.

As at the date of this announcement, a) the executive Directors
are Mr. Lim Wa, Mr. Lam Cham, Mr. Li Xiao Ning and Mr. Ding Ming
Shan; and (b) the independent non-executive Directors are
Professor Xiao Zhuo Ji, Dr. Wong Lung Tak, Patrick, J.P. and Mr.
Chan Kin Sang.

As of December 31, 2004, China Force has current assets of
HK$1.1 billion, while current liabilities stood at HK$966.57
million, Chong Hing Securities Ltd. relates.

CONTACT:

China Force Oil & Grains Industrial Holdings Co. Ltd.
Room 2911, Shun Tak Centre West Tower
200 Connaught Road Central
Hong Kong
Phone: 25177755
Fax: 29155282
Web site: http://www.chinaforce.com


CHINA UNICOM: Unit Offers US$1.2-Bln CP
---------------------------------------
China Unicom Limited hereby announced that board of directors of
China Unicom Corporation Limited (CUCL), a wholly owned
subsidiary of the Company, approved a resolution on 24 June 2005
to make an application to the People?s Bank of China (the PBOC)
for the offering of commercial paper with the outstanding amount
not to exceed RMB10 billion (the CP) (US$1.2 billion).

The term of repayment of the CP in the proposed offering shall
be not more than 365 days. The offering of the CP shall be made
within one year from the date on which registration of the
application at the PBOC is completed. The Company will make a
further announcement after the offering of the CP has been
completed.

By Order of the Board
China Unicom Limited
Yee Foo Hei
Company Secretary
Hong Kong, 24 June 2005

CONTACT:

China Unicom Limited
75/F, The Center
99 Queen's Road Central
Hong Kong
Phone: 21262018
Fax: 21262016
Web site: http://www.chinaunicom.com.hk


CHINA UNICOM: Director Clarifies Restructuring Plan Report
----------------------------------------------------------
China Unicom Limited (0762) Executive Director Lo Wing-yan said
he is not aware of any notice that the mainland Chinese
government is going to unveil a plan on restructuring the
mainland's telecommunications sector in October, Infocast News
reports.

Press reports on that matter are rumors only, Mr. Lo Wing-yan
said.

News reports in mainland China have said that the launch of the
restructuring plan, originally scheduled for July, has been
rescheduled for October and officials of the State-owned Assets
Supervision and Administration Commission (SASAC) have started
to do the assessment work for the proposals.


E-COMMERCE CHINA: Releases Debt Claim Notice
--------------------------------------------
Notice is hereby given that the creditors of E-Commerce China
Forum Limited (In Members' Voluntary Liquidation) which is being
voluntarily wound up, are requested on or before August 15, 2005
to send in their names and addresses and particulars of their
debts or claims and the names and addresses of their Solicitors
(if any) to the Joint & Several Liquidator of the Company.

If so required by notice in writing from the said Liquidator,
they are to personally or by their Solicitors or Representatives
to come in and prove their debts or claims as aforesaid 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 said Liquidator shall be entitled seven
days after the above date to give or transfer the asset
available or any part thereof to some other institution or
institutions having objects similar to the objects of the
Association.

Dated this 15th day of July, 2005
Li Pak Ki
Joint & Several Liquidator
26th Floor, Citicorp Centre
18 Whitfield Road
CAUSEWAY BAY
HONG KONG


FORTUNE COMPUTER: High Court Issues Winding Up Order
----------------------------------------------------
Fortune Computer Limited, whose place of business is located at
Shop 221, 2/F, Mongkok Computer Centre, 8-8A Nelson Street,
Mongkok, Kowloon was issued a winding up order notice by the
High Court of the Hong Kong Special Administrative Region Court
of First Instance on June 29, 2005.

Date of Presentation of Petition: May 4, 2005

Dated this 8th day of July 2005

ET O'Connell
Official Receiver


G-VISION: Widens FY05 Net Loss to HK$19.938 Mln
-----------------------------------------------
G-Vision International (Holdings) Limited (659) disclosed its
financial results for the fiscal year ended March 31, 2005.

Year-end date: 31/03/2005
Currency: HKD
Auditors' Report: Unqualified


                                   (Audited)    (Audited)
                                 Current  Last  Corresponding
                                  Period          Period
                               from 01/04/2004   from 01/04/2003
                                to 31/03/2005     to 31/03/2004
                                   Note ($)        ($)

Turnover                           : 115,467,000  114,925,000
Profit/(Loss) from Operations      : (20,128,000) (14,273,000)
Finance cost                       : (305,000)    (262,000)
Share of Profit/(Loss) of
  Associates                       : N/A                N/A
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A
Profit/(Loss) after Tax & MI       : (19,938,000) (12,713,000)
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.041)            (0.026)
         -Diluted (in dollars)     : N/A                N/A
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A
Profit/(Loss) after ETD Items      : (19,938,000) (12,713,000)
Final Dividend                     : NIL                NIL
  per Share
(Specify if with other             : N/A                N/A
  options)

B/C Dates for
  Final Dividend                   : N/A
Payable Date                       : N/A
B/C Dates for Annual
  General Meeting                  : 22/08/2005     to 6/08/2005
bdi.
Other Distribution for             : N/A
  Current Period

B/C Dates for Other
  Distribution                     : N/A

Remarks:

1. Potential Impact Arising From The Recently Issued Accounting
Standards

In 2004, the Hong Kong Institute of Certified Public Accountants
issued a number of new or revised Hong Kong Accounting Standards
and Hong Kong Financial Reporting Standards (hereinafter
collectively referred to as new HKFRSs) which are effective for
accounting periods beginning on or after 1 January 2005 except
for HKFRS 3 Business Combinations.  The Group has not early
adopted these new HKFRSs in the financial statements for the
year ended March 31, 2005.

HKFRS 3 is applicable to business combinations for which the
agreement date is on or after January 1, 2005.  The Group has
not entered into any business combination for which the
agreement date is on or after January 1, 2005.  Therefore, HKFRS
3 did not have any impact on the Group for the year ended March
31, 2005.

The Group has commenced considering the potential impact of
these new HKFRSs but is not yet in a position to determine
whether these new HKFRSs would have a significant impact on how
its results of operations and financial position are prepared
and presented.  These new HKFRSs may result in changes in the
future as to how the results and financial position are prepared
and presented.


2. Loss Per Share

The calculation of basic loss per share is based on the net loss
for the year of HK$19,938,000 (2004: HK$12,713,000) and on the
484,853,527 shares (2004: 484,853,527 shares) in issue during
the year.

No diluted loss per share has been presented as there were no
potential ordinary shares in both years.

CONTACT:

G-Vision International (Holdings) Limited
Units 101-108, 1/F
East Ocean Centre
98 Granville Road
Tsimshatsui, Kowloon
Hong Kong
Phone: 28938131
Fax: 25752283


INDUSTRIAL AND COMMERCIAL: Racks Up CNY41.6-Bln Operating Profit
----------------------------------------------------------------
The Industrial and Commercial Bank of China (ICBC) saw a 7.2
percent climb in operating profit in the first half to CNY41.6
billion (US$5.02 billion), according to Reuters.

Non-performing loans amounted to 4.58 percent of all loans at
the end of June, down 14.42 percentage points since the
beginning of the year.

The bank is undergoing an internal overhaul ahead of a
multibillion-dollar share flotation expected in the coming two
years.

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


ISTEELASIA HOLDINGS: Notes Increase in Trading Volume of Shares
---------------------------------------------------------------
iSteelAsia Holdings Limited noted on July 13 a decrease in price
and increase in trading volume of the shares of iSteelAsia
Holdings Limited and wishes to state that it is not aware of any
reasons for such movement.

Save as disclosed in the announcement dated May 19, 2005, the
Company also confirm that there are no negotiations or
agreements relating to intended acquisitions or realizations
which are discloseable under Chapters 19 and 20 of the GEM
Listing Rules, neither is the board of Directors aware of any
matter discloseable under the general obligation imposed by rule
17.10 of the GEM Listing Rules, which is or may be of a price-
sensitive nature.

Made by the order of the Board, the Directors of which
collectively and individually accept responsibility for the
accuracy of this announcement.

By Order of the Board
Desmond Hay Ching Fu
Director and Chief Executive Officer

CONTACT:

ISteelAsia Holdings Limited
Room 4902-8, Hoppewell Centre
183 Queen'st Road East
Wanchai, Hong Kong
Phone: 28657106
Fax: 28650578
Web site: http://www.isteelasia.com


JASPER TECHNOLOGY: Creditors Meeting Set July 21
------------------------------------------------
Notice is hereby given that pursuant to Section 241 of the
Companies Ordinance (Cap 32) that a meeting of the creditors of
Jasper Technology Limited will be held at Duke of Windsor Social
Service Building, 15 Hennessy Road, Wanchai, Hong Kong on July
21, 2005 at 3 o?clock in the afternoon.

Creditors may vote either in person or by proxy.

Proxies to be used at the meetings must be duly completed and
lodged at the company's registered office at Flat N, 3rd Floor,
Block 3, Camelpaint Building, 60 Hoi Yuen Road, Kwun Tong,
Kowloon, Hong Kong, not later than 4:00 p.m. on the day before
the meeting.

Dated this 8th day of July 2005

By order of the Board
TSUI KIN WAH
Director


JILIN CHEMICAL: Notes Unusual Volume Movement
---------------------------------------------
The Stock Exchange has received a message from Jilin Chemical
Industrial Company Limited (00368), which is reproduced as
follows:

"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

The Company have noted the recent increases in the trading
volume of the shares of the Company and wish to state that we
are not aware of any reasons for such increase, except for the
Interim Results Warning Announcement published on 13 July 2005.

The Company also confirm that there are no negotiations or
agreements relating to intended acquisitions or realizations
which are discloseable under rule 13.23, neither is the Board
aware of any matter discloseable under the general obligation
imposed by rule 13.09, which is or may be of a price-sensitive
nature.

Made by the order of the Board of Jilin Chemical Industrial
Company Limited, the directors of which individually and jointly
accept responsibility for the accuracy of this statement.

By order of the Board
Zhang Liyan
Company Secretary
Jilin, the People's Republic of China
July 14, 2005"


KINGSWOOD TRADING: Creditors' Proofs of Debt, Claim Due July 29
---------------------------------------------------------------
Notice is hereby given that the creditors of Kingswood Trading
Limited (In Creditors' Voluntary Liquidation) are required on or
before July 29, 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 Joint and Several
Liquidators of the said company at Messrs. Kennic L. H. Lui &
Co., 5th Floor, Ho Lee Commercial Building, 38-44 D'Aguilar
Street, Central, Hong Kong.

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 excluded from the benefit of
any distribution before such debts are proved.

Dated this 8th day of June, 2005
KENNIC LAI HANG LUI
RUBY MUN YEE LEUNG
Joint and Several Liquidators


MOULIN GLOBAL: Faces Shares Manipulation Probe
----------------------------------------------
The Securities and Futures Commission (SFC) will look into
Moulin Global Eyecare to determine if it manipulated its share
price in the months leading up to its collapse, The Standard
reports.

The commission suspects that company executives, in an effort to
smooth the way for critical fund-raising efforts earlier this
year, wanted to push up the share price even though they knew
that the firm's finances were deteriorating.

The SFC is also looking into the possibility its rules were
breached by the failure of company directors to disclose certain
information related to their holdings.

The Ma family, the controlling shareholders of Moulin, pledged
26.9 percent of the company's shares - leaving them with
unencumbered holdings of just 4.7 percent - as collateral for
loans from a number of money lenders. Under SFC rules, that
should have been publicly disclosed.

The maximum sentence for market manipulation is 10 years'
imprisonment and a fine of HK$10 million.

CONTACT:

Moulin Global Eyecare Holdings Limited
4/F, Kenning Industrial Building
19 Wang Hoi Road, Kowloon Bay
Kowloon, H.K.
Phone: 27073800
Fax: 21487272
Web site: http://www.moulin.com.hk


ON YUEN: Creditors, Contributories Meeting Fixed July 26
--------------------------------------------------------
Notice is hereby given that the annual meeting of the creditors
and contributories of On Yuen Development Limited (In Creditors'
Voluntary Liquidation) will be held at the office of Ferrier
Hodgson Limited, 14/Floor, Hong Kong Club Building, 3A Chater
Road, Central, Hong Kong on July 26, 2005 at 10:00 a.m. for the
purpose of receiving an account of the liquidator's act and
dealings and of the conduct of the winding up of the company
during the preceding year, and of hearing any explanation that
may be given by the liquidators, and to consider resolving a
resolution regarding the remuneration of the Joint and Several
Liquidators.

Forms of proxy can be obtained from the office of Ferrier
Hodgson Limited.

Proxies to be used at the meeting must be lodged at the office
of Ferrier Hodgson Limited not later than 4:00 p.m. on the day
before the meeting.

Dated this 8th day of July 2005

RODERICK JOHN SUTTON
Joint and Several Liquidator


PICC PROPERTY: Unlikely to Recover Government Bonds in Full
-----------------------------------------------------------
The board of directors of PICC Property and Casualty Company
Limited (2328) announced that as disclosed in the 2004 annual
report of the Company, certain government bonds of the Company
were registered under the exchange-trading seat of a securities
company in the People?s Republic of China.

The Company noticed that until the date of this announcement,
such securities company had experienced difficulties in
executing dealing instructions from the Company, being
instructions to sell the government bonds in bulk in its custody
and instructions to transfer all the government bonds to another
exchange trading seat designated by the Company.

As of the date of this announcement, the amount of the Company?s
government bonds in the custody of such securities company,
which are held in the Company?s account opened with it, is
RMB599 million, representing 3.6 percent and 2.1 percent of the
Company?s net assets and cash and cash equivalents and term
deposits as at 31 December 2004, respectively.

On June 14, 2005, the Company notified that a state-owned
holding company intends to inject capital into such securities
company for its restructuring in the website of such securities
company and the Company had promptly liaised with the securities
company and relevant regulatory authorities to find ways to
protect the Company?s assets.

The Company is of the view that there is uncertainty in
recovering the government bonds in full. However, the Company
considers that this will not have a material adverse impact on
the Company?s operation although the impact on the Company?s
financial position can only be determined when it becomes more
certain as to whether the government bonds can be recovered in
full. The Company will continue to carry out necessary measures
to protect the Company?s interests in such assets.

Investors and shareholders of the Company are reminded to
exercise caution when dealing in the securities of the Company.
The Company will make further announcements when further
information on protecting the Company?s interests in the assets
is available.

By Order of the Board
Fu Zhu
Secretary of the Board
Beijing, PRC, 13 July 2005

CONTACT:

PICC Property & Casualty Co., Ltd.
No. 69 Dong He Yan Street Xuan Wu District
Beijing, China
Phone: 010.631.5668
Fax: 010.630.3358


SENTEX INTERNATIONAL: Winding Up Hearing Slated for August 17
-------------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Sentex International Trading Limited by the High Court of Hong
Kong Special Administrative Region was on the June 21, 2005
presented to the said Court by Kuen Shing Textile Trading
Company Limited whose registered office is situated at Block J,
1st Floor, Tung Shing Building, Nos. 47-55 Cheung Sha Wan Road,
Kowloon, Hong Kong.

The said Petition is directed to be heard before the Court at
9:30 am on the 17th day of August 2005 and 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.

KNIGHT & HO
Solicitors for the Petitioner
Rooms 2207-2210, 22/F
World-Wide House
No 19 Des Voeux Road Central
Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention to do so.  The Notice must state the
name and address of the person, or if a firm or his or their
Solicitor (if any) and must be served or if posted, must be sent
by post in sufficient time to reach the abovenamed not later
than six o'clock in the afternoon of August 16, 2005.


SKY EARTH: Wind-up Process Initiated
------------------------------------
Sky Earth Structure (HK) Company Limited, whose place of
business is located at No. 1-A1, New Pun Chung Villgae, Nam Wan
Road, Tai Po, New Territories was issued a winding up order
notice by the High Court of the Hong Kong Special Administrative
Region Court of First Instance on June 29, 2005.

Date of Presentation of Petition: May 4, 2005

Dated this 8th day of July 2005

ET O'Connell
Official Receiver


SPEEDY EXPRESS: Enters Liquidation Process
------------------------------------------
Speedy Express International Limited, whose place of business is
located at Shop No 8, G/F, Sino Industrial Plaza, No 9 Kai
Cheung Road, Kowloon Bay, 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 29, 2005.

Date of Presentation of Petition: May 4, 2005

Dated this 8th day of July 2005

ET O'Connell
Official Receiver


UNOCAL PACIFIC: Proofs of Claim Due July 29
-------------------------------------------
Notice is hereby given that the creditors of Unocal Pacific
Limited (In Members' Voluntary Liquidation) are required on or
before July 29, 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 undersigned, 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 to come in and
prove the said debts or claims at such time and place as shall
be specified in such notice.

In default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.

Dated this 29th day of June, 2005

THOMAS GEORGE CREERY
Liquidator
Unocal Pacific Limited
(In Members' Voluntary Liquidation)
24th Floor, Prince's Building
Central, Hong Kong


VAST VISION: Begins Bankruptcy Proceedings
------------------------------------------
Vast Vision Enterprises International Limited, whose place of
business is located at Unit C, 14/F, Roxy Industrial Centre, 58-
66 Tai Lin Pai Road, Kwai Chung, New Territories was issued a
winding up order notice by the High Court of the Hong Kong
Special Administrative Region Court of First Instance on June
29, 2005.

Date of Presentation of Petition: May 4, 2005

Dated this 8th day of July 2005

ET O'Connell
Official Receiver


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

PERUSAHAAN LISTRIK: Seeks to Buy LNG from Papua Block
-----------------------------------------------------
State power firm PT Perusahaan Listrik Negara (PLN) hopes to be
able to purchase liquefied natural gas (LNG) from a gas field in
Tangguh, Papua, for a proposed LNG terminal in Banten, reports
Asia Pulse.

According to PLN?s primary Energy Director Ali Herman Ibrahim,
PLN would need the gas to operate steam gas combined cycle power
plants for an interconnection system from Java to Bali. He added
that the gas field in Tangguh can produce up to 125 million
cubic feet of gas daily, enough to supply three LNG production
facilities (trains).

Since the Tangguh LNG operator BP PLC plans to build only two
production facilities/trains, the remaining gas available could
be used to power up the Company?s LNG terminal.

The estimated cost for the proposed LNG terminal, which is set
to start operations in 2007, is IDR2.94 trillion. Japanese
investors Mitsui & Co. and Sumitomo Corporation have expressed
interest in the LNG terminal project. PLN is now shortlisting
project tenders.

CONTACT:

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


TELEKOMUNIKASI INDONESIA: Submits Annual Report Before Deadline
---------------------------------------------------------------
State-owned telecommunications firm PT Telekomunikasi Indonesia
(Telkom) was able to submit its 2004 financial report to the
U.S. Securities & Exchange Commission (SEC) before the deadline,
AFX News reports.

Since Telkom's American depositary receipts are traded on the
New York Stock Exchange, the Company must submit its financial
records to the U.S. SEC.

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

According to Telkom, the Company had been working with its
advisors to complete its 2004 financial report, to enable
Company auditors to include such report in its consolidated
financial statements.

Company investor relations officer Rochiman Sukarno said that
the Company passed its 20004 annual report on July 14, 2005, one
day shy of the extended deadline allowed by the U.S. SEC.

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

CONTACT:

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


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

JAPAN AIRLINES: Plans Six More Domestic Routes Next Year
--------------------------------------------------------
When the new Kobe Airport opens in Japan on February 16 2006,
the JAL Group plans to inaugurate flights to six destinations in
Japan: Tokyo (Haneda), Okinawa, Sapporo, Sendai, Kumamoto and
Kagoshima.

With the opening of Kobe, a domestic airport, the JAL Group will
be able to further expand its network in Japan's Kansai area
through three airports in the region, including Kansai
International, which offers international and domestic flights
and Osaka's Itami Airport, which provides domestic services.

Outline details:

1. Planned routes from Kobe

Tokyo (Haneda), Sapporo (Shin Chitose), Sendai, Okinawa (Naha),
Kumamoto and Kagoshima.

2. Flight number and frequency

JAL plans a total of 10 round trip flights per day on the six
routes

3. Aircraft and schedules

JAL is currently planning the types of aircraft to be used and
the flight schedules for announcement by the end of November
2005.

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

This a company press release.


JAPAN TOBACCO: Names New Advisory Committee Member
--------------------------------------------------
Japan Tobacco Inc. (JT) (TSE: 2914) announced on July 14 a new
external appointee for its Advisory Committee. The Advisory
Committee was formed in July 2001 to give top management advice
and guidance in areas related to mid and long-term planning and
other important issues. The committee consists of ten members,
including five external members.

The New External Appointee for the Advisory Committee, effective
July 15 is: Tomijiro Morita(Chairman of the Board, The Dai-ichi
Mutual Life Insurance Company)

Remaining Members:

Kazuo Inamori (Chairman Emeritus, Kyocera Corporation)
Yoko Ohara (President, Institute for the Fashion IndustriesIFI
Business School) Takamitsu Sawa (Director, Institute of Economic
Research Kyoto University) Sakutaro Tanino (Board of Directors,
Toshiba Corporation)

Note:

Josei Ito, who was an external member of the committee, passed
away on April 21, 2005

CONTACT:

Yukiko Seto
Associate General Manager
Media and Investor Relations
Japan Tobacco Inc.
2-1, Toranomon 2-chome, Minato-ku
Tokyo 105-8422 Japan
Phone: +81-3-5572-4292


MATSUSHITA ELECTRIC: To Spend JPY10 Bln on Chinese Plant
--------------------------------------------------------
Matsushita Electric Industrial Co. will invest about JPY10
billion (US$89.13 million) on a new factory in China to make
semiconductors and camera modules for mobile phones, according
to Reuters.

Production will begin in April 2006 at what will be the second
chip-making facility for Suzhou Matsushita Semiconductor, a
subsidiary that currently employs 1,500 and expects to whip out
2 billion semiconductors this year.

The move will boost the unit?s output to 7 billion chips in 2007
and increase its employees to 4,300. The plant will also
assemble 50 million cellphone camera modules in 2007.

The electronics manufacturer has been boosting output of chips
and parts in China to take advantage of lower labor costs and
meet demand from the growing number of companies producing in
the region.

CONTACT:

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


MITSUBISHI MOTORS: Faulty Brakes Launch Eclipse Recall
------------------------------------------------------
Mitsubishi Motors North America has recalled about 3,700 of its
2006 Eclipse models for brake problems, The Associated Press
reports.

The automaker found two instances in which a seal on the
vehicle's brake cylinder was installed incorrectly at the
supplier, which could cause a "spongy" feel when applying the
brakes, Mitsubishi Motors spokesman Dan Irvin said.

The recall was for cars built at the Normal plant between March
30 and June 10.

CONTACT:

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


MITSUI & COMPANY: Sagawa Acquires Thai Unit
-------------------------------------------
Sagawa Express Co. has acquired a stake in a Thai subsidiary of
Mitsui & Company Limited in a bid to boost its business in the
Asian markets, The Japan Times reports.

Sagawa has obtained a 60 percent stake in Thai Container
Distribution Service Co. in March. Sagawa Express has units in
other parts of Asia, including China and Singapore.

CONTACT:

Mitsui & Co., Ltd.
2-1 Ohtemachi 1-Chome
Chiyoda-Ku 100-0004, Tokyo 100-0004
JAPAN
Phone: +81 3 3285-1111
Fax: +81 3 3285-9819


SEIBU RAILWAY: Pension Fund Group Files JPY4.26-Bln Suit
--------------------------------------------------------
Japan?s Pension Fund Association filed a lawsuit against Seibu
Railway Co., its parent firm Kokudo Corporation and owner
Yoshiaki Tsutsumi, demanding JPY4.26 billion in damages for the
investment losses it incurred due to the falsification of
Seibu?s shareholders' ownership record.

"Seibu Railway has severely undermined investors' confidence in
the securities markets," the association said. "In making a
restart, the company should compensate in a responsible manner
for the damages it inflicted on its shareholders on the basis of
its illegal activities."

The falsification was designed to enable the railway to clear a
Tokyo Stock Exchange rule that any firm be delisted if a
combined stake held by its top 10 shareholders exceeds 80
percent for more than one year.

As of October 13, the Pension Fund Association had 1.87 million
Seibu shares.

CONTACT:

Seibu Railway Co Ltd
11-1 Kusunokidai 1-Chome
Tokorozawa 359-8520, Saitama 359-8520
Japan
Phone: +81 42 926 2081
Fax: +81 42 926 2237
Web site: http://www.seibu-group.co.jp/


* Teikoku Says 253 Companies? Debts Forgiven in 2004
----------------------------------------------------
Teikoku Databank America conducted research on companies that
received debt forgiveness, which include surviving companies as
well as companies that had reorganized, dissolved, or merged
after the agreement of debt forgiveness between 1985 to March
31, 2005.

All are principally counted at the time of reaching an agreement
in debt forgiveness.

This is our 12th research effort after the most recent one in
November 2004.

Research Result

Since 1985, the number of companies that reached agreements in
debt forgiveness was 1,171. In 1994, the self-reduction of
excess debt hit the limit, which created an upward increase in
the number of companies in debt forgiveness. However, since it
set a record-high with 251 cases in 2001, the number has
declined. Then, it soared again in 2004, updating the record-
high with 253 cases.

Recently, there were many cases of debt forgiveness utilizing
the "Industrial Revitalization Corporation of Japan" or
reorganization schemes such as private settlement guidelines.
Multiple debt forgiveness cases involving vast sums of money
tend to increase as well.

By pattern: Based on the total number of debt forgiveness cases
between 1985 to March 31, 2005, the most common pattern of debt
forgiveness was "Parent Company (Non-Bank) to Subsidiary" with
639 cases (54.6 percent), followed by 227 (19.4 percent) in
"Bank to General Company" and 112 (9.6 percent) in "Bank to
Group Company".

In 2004, the number of debt forgiveness cases by "Bank to
General Company" was at a record-high of 87, substantially
increasing from the previous year of 23 cases.

By Industry: Based on the total number of debt forgiveness cases
between 1985 to March 31, 2005, The "Manufacturing" industry was
the top with 193 companies (16.5 percent) exceeding "Non-Bank"
with 151 (12.9 percent), followed by "Wholesale" with 138 (11.8
percent), "Service" with 135 (11.5 percent), "Real
Estates/Housing" with 108 (9.2 percent), "Construction" with 102
(8.7 percent), "Retail" with 97 (8.3 percent) and "Third Sector"
with 21 (1.8 percent).

Large sized debt forgiveness was seen in the "Construction"
sector including "Ishihara Construction Co., Ltd" (1995), "Aoki
Corporation" (1999), and "Sato Kogyo Co., Ltd."(1999). During
2004-2005, three companies in the third sector (Asia and Pacific
Trade Center, Osaka World Trade Center Building, and Minatomachi
Developing Center) as well as Kanebo Group, Daikyo Incorporated,
and The Daiei Inc. received debt forgiveness. Debt forgiveness
also spread to wider sectors.

CONTACT:

Teikoku Databank America, Inc.
747 Third Avenue, 25th Floor
New York, NY 10017
Phone: 1-212-421-9805
Fax: 1-212-421-9806
Web site: http://www.teikoku.com


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

DAEWOO GROUP: Prosecutor to Hunt Missing Documents in Britain
-------------------------------------------------------------
A prosecution investigator is set to visit Daewoo Group's office
in Britain to retrieve missing documents, according to Asia
Pulse.  The missing capital transaction receipt slips are
believed to hold information regarding Daewoo's illegal money
transactions through its British financial arm, British Finance
Center (BFC).  BFC is believed to be Daewoo?s paper company that
handled the cash transactions of Daewoo's overseas operations.

A BFC high-ranking official will accompany the South Korean
investigator throughout the four- or five-day trip.  The visit
is not going to entail an investigation Daewoo?s British arm.

According to a prosecution official, the British entity claims
to have sent hundreds of thousands of dollars of Daewoo funds to
a bank in South Korea, but the bank has no record of such cash
transactions.  A former BFC officials claim the bank should be
held responsible for any missing data.

Recently, Daewoo founder Kim Woo-choong was indicted on charges
of fraud and violation of the country's foreign currency laws.
In 1997 and 1998 Mr. Kim allegedly ordered his group executives
to doctor the company's accounting books, so as to borrow KRW9.8
trillion.  Smuggling of $3.2 billion is also being linked to the
former chairman and he is being accused of illegally trading
over KRW15 billion abroad in violation of foreign exchange laws.


HYUNDAI MOTOR: To Recall 23,026 Cars
------------------------------------
Hyundai Motor Co. and affiliate Kia Motors Corp. will recall a
combined 23,206 units due to problems with a gear in their
parking brake systems, Asia Pulse reveals citing the Ministry of
Construction and Transportation Friday.

The affected models are Hyundai's Tucson sports-utility vehicle
produced between March 29 and May 20 this year.  Kia, will
recall 8,835 units of its SUV model Sportage made between March
29 to May 18 this year. A defect in vehicle dynamic system will
also prompt Hyundai to recall 8,992 NF Sonata sedans built
between August 18, 2004 and May 14 this year.

In South Korea, the ministry announces car recall plans instead
of automakers.

CONTACT:

Hyundai Motor
Yangjae 2-dong Seocho-gu
Seoul, Seoul 137-938
Korea (South)
Telephone: +82 2 3464 1114 / +82 2 3464 3414


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

ACP INDUSTRIES: Unit to Receive Payments of MYR9,500,000.00
-----------------------------------------------------------
ACP Industries Berhad informed Bursa Malaysia Securities Berhad
that a Settlement Agreement has been entered between Schaefer
Systems International Sdn Bhd (Schaefer) and ACPI Engineering
Sdn Bhd (ACPIE) with regards to the full and final settlement of
all disputes and claims by the Parties in relation an
Arbitration Proceedings and Arbitration Award dated August 24,
2004 and December 22, 2004.

In accordance with the Settlement Agreement, Schaefer shall pay
a sum of MYR9,500,000.00 only to ACPIE not later than July 20,
2005. The Settlement Agreement by Schaefer was executed by ACPIE
upon receipt of the original documents from ACPIE's Solicitors,
Messrs. GH Tee & Co on July 11, 2005.

CONTACT:

ACP Industries Berhad
18A Jalan 51A/223
46100 Petaling Jaya, Selangor Darul Ehsan 46100
Malaysia
Telephone: +60 3 7956 5186 / +60 3 7958 6130


ANCOM BERHAD: Purchases 226,400 Shares on Buy Back
--------------------------------------------------
Ancom Berhad posted at Bursa Malaysia Securities Berhad a notice
of shares buy back on July 7, 2005, noting the following
details:

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

Total number of shares purchased (units): 226,400

Minimum price paid for each share purchased (MYR): 0.750

Maximum price paid for each share purchased (MYR): 0.770

Total consideration paid (RM):

Number of shares purchased retained in treasury (units):

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

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

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


HAP SENG: Buys Back 12,000 Shares
---------------------------------
Hap Seng Consolidated Berhad issued to Bursa Malaysia Securities
Berhad the details of its shares buy back7 dated July 11, 2005.

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

Total number of shares purchased (units): 12,000

Minimum price paid for each share purchased (RM): 2.060

Maximum price paid for each share purchased (RM): 2.180

Total consideration paid (RM): 25,023.98

Number of shares purchased retained in treasury (units): 12,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 32,761,900

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

CONTACT:

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


KRAMAT TIN: Appeals SC's Decision
-----------------------------------------
Kramat Tin Dredging Berhad issued to Bursa Malaysia Securities
Berhad an update to the proposed members' Scheme Of Arrangement
under Section 176 Of the Companies Act, 1965 which involves the
following:

- The Proposed Acquisition of SPJ;

- The Proposed Acquisition of Land;

- The Proposed Acquisition of KTD;

- The Proposed Placement; and

- The Proposed Transfer of Listing Status

(collectively referred to as the proposals)

Reference is made to the announcements dated April 24, 2004,
June 25, 2004, August 4, 2004, September 24, 2004, October 6,
2004, November 8, 2004, April 15, 2005, April 27, 2005, June 3,
2005 and June 9, 2005 in relation to the Proposals.

The Securities Commission (SC) had, via its letter dated June 9,
2005 granted its approval to KTD for the Proposals. However, the
SC did not approve KTD?s application for a waiver for both
Putrajaya Holdings Sdn Bhd (PJH) and Abad Kilat Sdn Bhd (AKSB)
from complying with the requirement of Paragraph 12.09 of the
Policies and Guidelines on Issue/Offer of Securities of the SC
relating to the waiver from the need to subject 50 percent of
the securities to be received by PJH and AKSB under the
Proposals to a moratorium (Proposed Waiver).

On behalf of KTD, Bursa Malaysia announced that the Board of
Directors of KTD has submitted an application to the SC on
behalf of PJH and AKSB to appeal against the decision of the SC
for the Proposed Waiver.

The decision of the SC is currently pending.

This announcement is dated 11 July 2005.

CONTACT:

Kramat Tin Dredging Berhad
No 12 Jalan Gelenggang Bukit Damansara
50490 Kuala Lumpur, 50490
Malaysia
Telephone: +60 3 2092 5588 / +60 3 2093 9917


LION CORPORATION: Unveils Recurrent Transaction
-----------------------------------------------
Lion Corp. Berhad advised Bursa Malaysia Securities Berhad that
KMA Marketing Sdn Bhd, a subsidiary of the Company, has entered
into a recurrent transaction of a revenue or trading nature with
its related party as set out in Table I, pursuant to paragraph
2.0 of Practice Note No. 12/2001 (Recurrent Transaction).

The Company had on November 22, 2004 obtained a mandate from its
shareholders to enter into recurrent related party transactions
of a revenue or trading nature with its related parties
(Shareholders' Mandate). The Recurrent Transaction was not
included in the Shareholders' Mandate as it was a new Recurrent
Transaction.

The following Directors do not consider themselves to be
independent in respect of the Recurrent Transaction:

Tan Sri William H.J. Cheng
Datuk Cheng Yong Kim

Other than as disclosed above, none of the other Directors has
any interest, direct or indirect in the Recurrent Transaction.

It is likely that the Recurrent Transaction will occur with some
degree of frequency and could arise at any time. In view of the
time sensitive and frequent nature of the Recurrent Transaction,
the Company will include the Recurrent Transaction in the
circular to be issued in relation to the renewal of the
Shareholders' Mandate to be tabled at the forthcoming annual
general meeting of the Company to be held not later than
December 31, 2005.

Table I

Subsidiary of  Nature of      Value      Estimated   Related
the Company   Transaction   Transacted  Value (1)   Party (2)

KMA Marketing  Sale of Motor MYR1.63     MYR12.0    Silverstone
Sdn Bhd        Vehicles      million    million     Corp. Berhad
                                                    Group
Notes:

(1) Estimated value of further transactions prior to obtaining a
renewal of the Shareholders' Mandate.

(2) The abovementioned corporation is a related party as it is a
person connected with:

(i) Tan Sri William H.J. Cheng (the Chairman, Managing Director
and a major shareholder of the Company) and Datuk Cheng Yong Kim
(a Director and a major shareholder of the Company) who each has
a direct and/or indirect interest in Silverstone Corporation
Berhad held via corporations in which they each has more than
15% shareholding.

(ii) The companies listed below (major shareholders of the
Company) which have direct and/or indirect interest in
Silverstone Corporation Berhad held via corporations in which
they each has more than 15% shareholding:

(a) Lion Realty Pte Ltd
(b) Lion Development (Penang) Sdn Bhd
(c) Horizon Towers Sdn Bhd
(d) LDH (S) Pte Ltd
(e) Lion Diversified Holdings Berhad
(f) Amsteel Mills Sdn Bhd
(g) Steelcorp Sdn Bhd
(h) LLB Steel Industries Sdn Bhd
(i) Lion Industries Corporation Berhad

CONTACT:

Lion Corporation Berhad
165 Jalan Ampang
50450 Kuala Lumpur, Kuala Lumpur 50450
Malaysia
Telephone: +60 3 2162 2155 / +60 3 2162 3448


MALAYSIAN AIRLINE: Likely to Face Another Probe
-----------------------------------------------
Several executives of Malaysian Airline System Berhad are
believed to be responsible for losses incurred following alleged
irregular company practices, New Straits Times relates.

The accusations came from a fresh police report lodged two
months ago by a Malaysian Airline director.  It could result in
an investigation on the airline's former chairman Tajuddin
Ramli, former MasKargo vice president Ralph M. Gotz and the
airline's former company secretary, Rizana Mohd Daud.

The police report was lodged with the commercial crimes division
at federal police headquarters in Bukit Aman, but department
director Datuk Hairuddin Mohamad declined comment, the newspaper
said.

The report filed in January 2002 from former Malaysian Airline
corporate services senior general manager Mohamadon Abdullah is
being linked to the latest report.  Mr. Mohamadon alleged
irregularities in the company and its dealings with German
company Advanced Cargo Logistics Gmbh.

Malaysian Airline is currently fighting a legal battle with
Advanced Cargo. The latter initiated arbitration proceedings
against the airline, claiming more than EUR60 million for breach
of agreement over a cargo handling deal dated November 1999.

CONTACT:

Malaysian Airline System Berhad
Jalan Sultan Ismail
50250 Kuala Lumpur, 50250
Malaysia
Telephone: +60 3 2165 5008 / +60 3 2162 8305


MBF HOLDINGS: Court Fixes Date of Summary Judgment Decision
-----------------------------------------------------------
Further to the announcement on July 8, 2005, MBf Holdings Berhad
informed Bursa Malaysia Securities Berhad that the Defendant's
appeal in respect of the summary judgment application via Kuala
Lumpur High Court Suit No.D7-22-1598-2004 has been fixed for
decision/clarification on November 16, 2005.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad

CONTACT:

MBF Holdings Berhad Federal Furniture Holdings (M) Berhad
Suite 1501B Menara Choy Fook On
1B Jalan Yong Shook Lin, Section 7
46050 Petaling Jaya
Telephone: 03-7955 9937
Fax: 03-7956 2812
Website: http://www.federal-furniture.com


METROPLEX BERHAD: Court Adjourns Wind Up Petition Hearing
---------------------------------------------------------
Metroplex Berhad (MB) refers to its announcement made to Bursa
Malaysia Securities Berhad on June 27, 2005 regarding the
winding up petition served on the company by Philippine Asset
Investment (SPV-AMC), Inc. (PAII).

The Company informed the bourse that the Kuala Lumpur High Court
has on July 8, 2005 adjourned the hearing on MB's stay
application on PAII's winding-up petition on July 14, 2005.

This announcement is dated 11 July 2005.

CONTACT:

Metroplex Berhad
Level 10, Grand Seasons Avenue,
No. 72, Jalan Pahang,
53000 Kuala Lumpur.
Telephone: 03-2931828, 03-4431828
Fax: 03-2912798


NALURI BERHAD: Concludes TSSB Acquisition
-----------------------------------------
Naluri Berhad refers to its announcements made by Commerce
International Merchant Bankers Berhad (CIMB) on behalf of the
company on May 10, 2005 and July 1, 2005.

On behalf of Naluri Berhad, Commerce International Merchant
Bankers Berhad (CIMB) announced that the conditions precedent
stipulated in the conditional sale and purchase agreement
between Naluri and Hasmadi bin Ramli and Lim Swee Thai for the
TSSB Acquisition have been fulfilled. Payment of the purchase
consideration for the Tenggara Senandung Sdn Bhd (TSSB)
Acquisition has also been made. Accordingly, the TSSB
Acquisition is now completed.

This announcement is dated 11 July 2005.

CONTACT:

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


OMEGA HOLDINGS: Amends Restructuring Scheme Proposal
----------------------------------------------------
Omega Holdings Berhad (OMEGA) issued to Bursa Malaysia
Securities Berhad an update on the:

- Proposed Acquisition of the Melati Group;

- Proposed Exemption;

- Proposed Scheme of Arrangement with the previous Omega
Shareholders;

- Proposed Scheme Of Arrangement with the previous Omega
Creditors;

- Proposed Offer for Sale;

- Proposed Transfer of Listing Status; and

- Proposed Disposal of Omega

(collectively, the Revised Proposed New Restructuring Scheme)

The company refers to the announcements made on December 27,
2004 and February 24, 2005.

Avenue Securities Sdn Bhd (Avenue), on behalf of Omega announced
to Bursa Malaysia that the Company had on July 11, 2005, entered
into a third supplemental restructuring agreement (Third
Supplemental RA) with the Melati Principal Shareholders and MEH
to effect the revision of certain terms of the original Proposed
New Restructuring Scheme.

The Third Supplemental RA has been undertaken to revise the
sequence of the Proposed New Restructuring Scheme whereby Omega,
the Melati Principal Shareholders and MEH agreed inter alia,
that the completion of the Proposed Acquisition of the Melati
Group shall take place prior to the implementation of the
Proposed Scheme of Arrangement with the Previous Omega
Shareholders and the Proposed Scheme of Arrangement with the
Previous Omega Creditors.

With the revision, the Vendors of the Melati Group intend to
apply to the SC for an exemption pursuant to Practice Note 2.9.6
of the Code instead of Practice Note 2.9.3 of the Code in the
original Proposed New Restructuring Scheme from having to
undertake a mandatory offer.

The effects of the revision on the issued and paid up share
capital, NTA and gearing and substantial shareholdings of Omega
and MEH is set out in Table 1, 2 and 3 respectively.

To view a full copy of the Tables 1, 2 and 3, click
http://bankrupt.com/misc/OmegaHoldings070905.doc

This announcement is dated 11 July 2005.

CONTACT:

Omega Holdings Berhad
Jalan Semantan Damansara Heights
50490 Kuala Lumpur, Selangor Darul Ehsan 46050
Malaysia
Telephone: +60 3 2713 2160 / +60 3 2713 2170


PILECON ENGINEERING: To Convene Meeting Next Month
--------------------------------------------------
Notice is hereby given that by an Order dated March 18, 2004,
subsequently extended by Orders on June 16, 2004, September 14,
2004, December 10, 2004, April 11, 2005 and July 7, 2005, the
Court has directed a meeting to be convened in respect of the
unsecured creditors except for the trade creditors (hereinafter
referred to as the Unsecured Creditors) of Pilecon Engineering
Berhad (Pilecon).

The Applicant herein, (the said meeting shall hereinafter be
referred to as the Pilecon Meeting) for the purpose of
considering and if thought fit approving with or without
modification a scheme of arrangement proposed to be made between
Pilecon and the Unsecured Creditors (hereinafter referred to as
the Scheme) and that the Pilecon Meeting will be held at Level
25, Menara Multi-Purpose, Capital Square, 8 Jalan Munshi
Abdullah, 50100 Kuala Lumpur on Wednesday, August 3, 2005 at
10:00 a.m at which place and time all the Unsecured Creditors
are requested to attend.

All Unsecured Creditors will be furnished by Pilecon or Alliance
Merchant Bank Berhad of Level 19, Menara Multi-Purpose, Capital
Square, 8 Jalan Munshi Abdullah, 50100 Kuala Lumpur, by way of
prepaid letter post, with a copy of the Scheme and the Statement
required to be furnished pursuant to section 177(1)(a) of the
Companies Act 1965 together with a form of proxy (hereinafter
these documents to be collectively referred to as the Pilecon
Documents).

In any event, Pilecon will make available to all the Unsecured
Creditors, copies of the Pilecon Documents which can be
collected by the Unsecured Creditors from the offices of
Alliance Merchant Bank Berhad at their address stated above
during usual business hours on any day prior to the day
appointed for the Pilecon Meeting.

The Unsecured Creditors may vote at such of the Pilecon Meeting
as they are entitled to attend or they may appoint another
person whether a member of the class or not as their proxy to
attend and vote in their stead.

Forms appointing proxies must be lodged with Pilecon at 2 Jalan
U1/26, Seksyen U1, Hicom-Glenmarie Industrial Park, 40150, Shah
Alam, Selangor Darul Ehsan, not less than forty-eight (48) hours
before the time appointed for the Pilecon Meeting, but if forms
are not so lodged they may be handed to the Chairman at the
Pilecon Meeting at which they are to be used.

The Scheme will be subject to the subsequent approval of the
Court.

Dated this 12th day of July 2005

Messrs Kadir, Andri & Partners
Solicitors for Pilecon Engineering Berhad

This announcement is dated 11 July 2005.

CONTACT:

Pilecon Engineering Berhad
No 2 Jalan U1/26 Seksyen U1
40150 Shah Alam, Selangor Darul Ehsan 40150
Malaysia
Telephone: +60 3 7804 1888 / +60 3 7804 3888


POLY GLASS: Should Submit Plan Within Given Timeframe
-----------------------------------------------------
Poly Glass Fibre (M) Berhad issued to Bursa Malaysia Securities
Berhad an update pursuant to Practice Note 17/2005 (first
announcement).

(1) Introduction

Further to the Company's announcement dated June 28, 2005 in
relation to the auditors' qualifications, the Company by the
definition as set out in Paragraph 2.1(c) of Practice Note
17/2005 (PN17/2005) is an Affected Listed Issuer.

In compliance with Paragraph 3 of PN17/2005 and pursuant to
Paragraph 8.14C (2)(b) of the Listing Requirements of Bursa
Malaysia Securities Berhad (Bursa Securities), the Board of
Directors of the Company announced that the Company is an
Affected Listed Issuer.

(2) Obligations of the company pursuant to PN 17/2005

As an Affected Listed Issuer, the Company is required pursuant
to Paragraph 3.1 (a)(ii) of PN 17/2005 to announce its
obligations under the Practice Note namely to:

(a) Submit a plan to regularize its condition to the relevant
authorities for approval or, where the relevant authorities
approvals are not required, obtain all other approvals necessary
for the implementation of the plan within 8 months from the date
of First Announcement (Submission Timeframe);

(b) Implement its plan to regularize its condition within the
timeframe stipulated by the relevant authorities or where no
timeframe has been stipulated or allowed by the relevant
authorities, within the timeframe as imposed by the Bursa
Securities (Implementation Timeframe);

(c) Announce the status of its plan to regularize its condition
on a monthly basis and the number of months to the end of the
Submission Timeframe/Implementation Timeframe, as may be
applicable, until further notice from the Bursa Securities; and

(d) Announce its compliance or non-compliance with a particular
obligation imposed pursuant to PN 17/2005 on an immediate basis.

(3) Consequences of Non-Compliance with the Obligations

In the event that the Company fails to comply with the
obligation to regularize its condition, it shall have all its
listed securities suspended from trading on the 5th market day
after expiry of the Submission Timeframe or Implementation
Timeframe, as the case may be, and de-listing procedures shall
then commenced against the Company.

(4) Status of the Company's endeavours to formulate a plan

The Company will be drawing up a plan to regularize the
condition in due course.

Dated this announcement 11th day of July 2005.


PUNCAK NIAGA: Bourse Grants Listing, Quotation of Shares
--------------------------------------------------------
Puncak Niaga Holdings Berhad advised that its additional 21,000
new ordinary shares of MYR1.00 each issued pursuant to the
Employees' Share Option Scheme (Scheme) will be granted listing
and quotation with effect from 9:00 a.m., Thursday, July 14,
2005.

CONTACT:

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


TT RESOURCES: Compels Purchaser to Pay Outstanding Contribution
---------------------------------------------------------------
On June 21, 2004 the Board of Directors of TT Resources Bhd
(TTRB) announced that the Company had obtained the approval of
its shareholders at an Extraordinary General Meeting duly held
in relation to the Provision of Financial Assistance to TT
Resources (Shanghai) Sdn Bhd (TTRS), an associated company of
TTRB.

Further to the above, the Board of Directors of TTRB announced
that Dato' Tan Seng An (Purchaser) has failed and/or omitted to
perform his obligation under a Sale of Shares Agreement dated
December 19, 2003 (SSA) entered into between TTRB and the
Purchaser following the Purchaser's failure to pay his portion
of 40% out of the quarterly installment of MYR400,000.00 each
due to be paid by TTRS towards the repayment of a term loan
granted by RHB Bank Berhad (RHB Bank) to TTRS for three
consecutive installments, thereby creating an outstanding
shortfall installment totaling MYR480,000.00 as at May 25, 2005,
the breakdown of which is detailed herein below:

No.      Due date for payment      Purchaser's portion of 40%
        of quarterly installment   of quarterly repayment RM

1          25 November 2004        160,000.00

2          25 February 2005        160,000.00

3          25 May 2005             160,000.00

Total outstanding                  480,000.00

Meanwhile, TTRB had duly performed and had contributed the total
sum of MYR1.44 million being its portion of 60 percent out of
the quarterly installments due to RHB Bank as at to date.

TTRB had provided a corporate guarantee of MYR7.0 million being
the full principal loan amount in favor of RHB Bank to secure
the abovementioned term loan facility granted by RHB Bank to
TTRS which forms part of the Provision of Financial Assistance
to TTRS.

TTRB has since then taken various measures to amicably resolve
the matter with the Purchaser but without success. Accordingly,
TTRB had on July 6, 2005 filed a Writ of Summons at the High
Court of Malaya in Shah Alam, Selangor Darul Ehsan against the
Purchaser for his outstanding contribution in the sum of
MYR480,000.00, amongst others, and for breaching certain terms
and conditions contained in the SSA.

Based on the advice of TTRB's solicitors, the Board is of the
opinion that the Company has a strong case in compelling the
performance by the Purchaser to pay to RHB Bank the Purchaser's
outstanding contribution in the sum of MYR480,000.00.

This announcement is dated 8 July 2005.


WAH SEONG: Details Unit's Joint Venture Agreement
-------------------------------------------------
Wah Seong Corporation Berhad issued to Buras Malaysia Securities
Berhad an update on the Joint Venture Agreement between Wah
Seong International Pte Limited (a sub-subsidiary company of Wah
Seong Corporation Berhad) with Prime Wealth Resources Limited to
inter alia invest/subscribe for an 80% equity stake in WSM Oil &
Gas Services Limited

(1) Introduction

The Board of Directors is pleased to announce that its sub-
subsidiary company, Wah Seong International Pte Limited (WSIPL)
had on July 11, 2005, entered into a Joint Venture Agreement
with Prime Wealth Resources Limited (PWRL) to inter alia,
invest/subscribe in a company in Hong Kong known as WSM Oil &
Gas Services Limited (WSM) for purposes of a joint venture on an
80% (WSIPL): 20% (PWRL) basis for a cash consideration of
HK$8.00 (equivalent to MYR3.91 based on the exchange rate of
HK$1.00 to MYR0.4889) only (hereinafter referred to as Joint
Venture).

(2) Information on WSIPL, PWRL AND WSM

WSIPL was established on November 9, 1993 as a private company
limited by shares in Hong Kong and having its registered office
at No. 1506-07, 15th Floor, 9 Queen's Road, Central, Hong Kong.
It is principally an investment holding company involved in the
oil and gas industry. WSIPL is a wholly owned subsidiary of Wah
Seong Industrial Holdings Sdn Bhd, which is in turn a wholly
owned subsidiary of the Company.

PWRL was incorporated as a private company limited by shares in
British Virgin Islands on March 18, 2005 and having its
registered office at P.O. Box 2234, IFS Chambers, Road Town,
Tortola, British Virgin Islands. It is principally an investment
holding company and provides management consultancy services
including all kinds of products and services related to the
engineering, oil and gas, power and energy related industries.
At to-date, its authorized capital is USD50,000.00 while its
issued and paid-up capital is USD1.00 only.

WSM was established on May 19, 2005 as a private company limited
by shares in Hong Kong and has its registered office at 11th
Floor, Dah Sing Life Building, 99 Des Voeux Road, Central, Hong
Kong. It is principally an investment holding company and
provides management consultancy services including all kinds of
products and services related to the infrastructure, oil and
gas, water, power and energy related industries. WSM will be
jointly owned by WSIPL and PWRL on an 80:20 basis.

(9) Salient details of the Joint Venture

(a) WSIPL and PWRL will jointly subscribe, invest, participate,
subscribe and maintain the equity shareholding of WSM in the
following manner/ratio at all times:

(i) 80% - by WSIPL and/or its nominee(s)

(ii) 20% - by PWRL and/or its nominee(s)

(b) WSIPL and PWRL shall further subscribe and increase the
paid-up capital of WSM if need be, at anytime and from time to
time at the above ratio.

(4) Basis of Consideration

The initial cost of investment for the 80% equity stake in WSM
is HK$8.00 based on the subscription price at par value of
HK$1.00 per share.

(5) Rationale for the Joint Venture

The Joint Venture will be synergistic to the existing
business(s) of WSIPL and is expected to contribute positively to
the earnings of WSIPL and WSC Group in the long run as WSM will
play a central and pivotal role in securing contracts and
identifying for business and other investment opportunities
relating to the infrastructure, oil and gas, water, power and
energy related industries for WSC Group throughout the Asia
Pacific Region.

(6) Financial Effects of the Joint Venture

(6.1) Share Capital

The investment will not have any effect on the share capital of
WSC although the effective interest of WSC through WSIH and
WSIPL in WSM will be increased from 0% to 80%.

(6.2) Earnings

The investment is not expected to have any material effect on
the consolidated earnings of WSC and its group of companies for
the financial year ending 31 December 2005. However, revenue
from WSM is expected to contribute positively to its future
earnings.

(6.3) Substantial Shareholding

The investment will cause WSIPL's equity shareholding in WSM to
increase from 0% to 80%.

(6.4) Net Tangible Assets (NTA)

The proposed investment will not have any material effect on the
consolidated NTA value of WSC and its group of companies for the
year ending December 31, 2005.

(7) Directors' and Substantial Shareholders' Interest

None of the directors, major shareholders, persons connected to
directors or persons connected to the major shareholders of the
Company or any of its subsidiaries has any interest, direct or
indirect, in the investment.

(8) Directors' Statement

Having considered all aspects of the investment, the Board of
Directors is of the opinion that the Joint Venture is in the
best interest of the Company.

(9) Condition of Joint Venture

This Joint Venture is not subject to the approvals of any other
governmental authority and the shareholders of WSC.

(10) Documents for Inspection

Details of the Joint Venture Agreement are available for
inspection at the principal office of WSC at No. 59-2, The
Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala
Lumpur for one (1) week from date of this Announcement during
normal business hours from Mondays to Fridays.

Yours faithfully,

Wah Seong Corporation Berhad
Chan Cheu Leong
Managing Director/Group Chief Executive Officer


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

ENRON SUBIC: Disputes Tax Deficiency Bill
-----------------------------------------
Cash-strapped Enron Subic Power Corp. has asked the Supreme
Court to junk the government's bid to collect at least Php2.9
million in tax deficiencies, BusinessWorld relates.

The Bureau of Internal Revenue (BIR) earlier assessed the power
firm has Php2.9 million in back taxes for 1996 although the
lower courts had cancelled the tax deficiencies noting the
bureau had failed to state the "factual and legal" bases for the
assessment.  Under the tax code, the BIR is required to state in
writing the law and the facts on its assessment in the formal
letter of demand it would send to taxpayers.

But Enron claimed the BIR's assessment indicated only the tax,
surcharge and penalty. In its petition, Enron argued the BIR
merely attempts to "resurrect the same issues" which the Court
of Tax Appeals and the Court of Appeals have dismissed as
without merit.

"We believe that the applicable principle is the well settled
rule that findings of fact of the Court of Appeals are final and
conclusive and cannot be reviewed on appeal to the Supreme
Court."

CONTACT:

Enron Subic Power Corp.
3/Floor, Corinthian Plaza
121 PAseo de Roxas Street
Makati, Metro Manila
Philippines


IMPERIAL RESOURCES: Seeks to Erase IT Losses
--------------------------------------------
Struggling Imperial Resources Inc. is working to tie up with
senior investment firms for projects aimed at eradicating
losses, according to Today News.

The firm, which has been incurring losses since 2002, sees a lot
of opportunities in IT, energy and mining and has lined up
projects in these sectors. But it is still unable to disclose
details of the projects because these are still in its "very
primitive" stages.

The Company is exploring the possibility of looking for sources
of asphalt and its commercial uses.

Most of the high-quality highways constructed in the country are
top-finished with five to six inches of asphalt. Medium- and
low-cost housing uses more asphalt tiles and roofing slates, he
added.

The Company said that although it has abandoned some of its
mining projects, it would still consider mining coal as another
source of revenue. In fact it has boosted the value of its
shares to Php5 from Php1, in a bid to further endeavors in the
mining sector.

In 2004, Imperial booked a net loss of Php50.98 million, higher
than 2003?s net loss of Php5.63 million. This was mainly due to
its operating expenses which reached P43.14 million.

The increase in its operating expenses, based on its 2004
financial statement, was attributed to an investment write off
worth Php23.24 million and a Php10.24-million worth exploration
and development write off.

CONTACT:

Imperial Resources, Inc.
82-J 4th St., New Manila
Quezon City 1112
E-mail Address: vraimp@impactnet.com
Phone:  721-6423; 724-2986; 833-9433
Fax:  721-4648; 729-9694


MANILA ELECTRIC: Clients May Not Get Actual Refunds Until Sept.
---------------------------------------------------------------
Phase 4a customers of Manila Electric Company (Meralco) may not
get their actual refunds until September this year, according to
The Philippine Daily Inquirer.

Meralco refund management task force head Leonardo Mabale said
the refunds might not be immediately claimed or credited to
bills since the power distributor was still awaiting the final
revenue order from the Bureau of Internal Revenue (BIR). The BIR
order would give the utility specific details on how to withhold
taxes from the refundable amounts under Phase 4 of the refund
scheme.

According to the BIR revenue regulation, the taxes "should be
applied to both active and terminated accounts.

The BIR earlier in the year issued an order for Meralco to
withhold 25 percent creditable income tax on Phase 4 customers
with active accounts, and 32 percent on customers with
terminated accounts.

Details on exactly how the tax withholding process would be
carried out by Meralco, particularly for customers that might
have exemptions, had yet to be issued.

As soon as Meralco gets the RMO, letters containing information
on the refund would be sent out, with the actual refund to be
conducted shortly thereafter.

Mr. Mabale said customers should expect the letters by the first
week of August.

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Phone:  16220 (TL); 633-4553 (Corp. Sec.)
Fax:  (0632) 631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


NATIONAL DEVELOPMENT: Prepares Php3-Bln Bond Float
--------------------------------------------------
The National Development Co. (NDC) is poised to offer Php3
billion worth of Agri-Agra (AA) Bonds to raise funds for its
projects, says The Manila Standard.  Proceeds from the bond
float are earmarked to bankroll major development programs that
support agriculture and agrarian reform.

The NDC IOU is directly and unconditionally guaranteed by the
national government. The AA Bonds would have a term of 10 years
from the date of issue as the development projects to be funded
have a long gestation period. Interest payments shall be made
semiannually and shall be tax-exempt.

The AA Bonds are eligible as liquidity reserve for deposits,
deposit substitutes, common trust funds and other fiduciary
accounts; liquidity floor for government deposits; security for
the faithful performance of trust duties and as an alternative
compliance to Presidential Decree 717.

PD 717 requires the banking sector to allocate at least 25
percent of its loanable funds for agricultural credit in
general, of which 10 percent of its loanable funds shall be made
available to agrarian reform beneficiaries.

The planned bond float this month constitutes the third tranche
of NDC AA bonds, which are being issued in accordance with
Executive Order 83 issued on Dec. 25, 1998.

NDC, the investment arm of the Department of Trade and Industry
(DTI), is one the country's loss-making government corporations.

CONTACT:

DEPARTMENT OF TRADE AND INDUSTRY
385 Industry and Investments Bldg.,
Sen. Gil Puyat Ave., Makati City,
Philippines 1200
Telephone: (63-2) 895-3611
Fax: (63-2) 895-6487
E-mail: web@dti.dti.gov.ph


NATIONAL DEVELOPMENT: Idle Asset Sale to Generate Php600 Mln
------------------------------------------------------------
The National Development Company (NDC) is set to bid out next
month a 5.2-hectare idle lot in Paco Manila, BusinessWorld
reports.

The sale of NDC's Php600-million Manila Gas Corp. property is in
line with the government's plans to raise more funds for
infrastructure projects.

Based on initial appraisals, Manila Gas' property is estimated
to fetch between Php12,000 and Php18,000 per square meter.

NDC would keep half of the proceeds from the Manila Gas property
while the other half would go to the national government.

Last April, a government source said NDC had lined up through
another subsidiary four new road projects worth P30 billion as
part of its portfolio of priority projects.

These include the P12-billion North Luzon East Expressway
(NLEE), which would run parallel to the existing NLEX; the 21-
km, P9-billion Calabarzon expressway that is meant to decongest
the Aguinaldo highway that links Metro Manila to Southern
Tagalog; the extension of the yet-to-be-built Subic-Clark-Tarlac
expressway to Pangasinan, and the 10-km Circumferential Road 6
that would serve as a by-pass along the Manggahan floodway in
Pasig City.


NATIONAL FOOD: Secures Enough Rice Supply for Public
----------------------------------------------------
The struggling National Food Authority (NFA) has assured the
public of a steady supply of rice for the whole year, according
to The Manila Standard. The state food agency said importation
is expected to boost local price production, despite NFA's
downward shift in rice production targets.

This year, the government assigned the NFA to import 1.6 million
metric tons of rice for the country's food security
requirements. However, due to the projected delay in the main
harvest and reduced production this year, NFA is set to import
an additional 200,000 mt. The additional importation will fill
the rice requirements of the country due to a delay in planting
because of the El Nino phenomenon.

CONTACT:

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


NATIONAL FOOD: DOF Projects Ballooning Deficit in 2005
------------------------------------------------------
The Department of Finance (DOF) forecasts the deficit of
National Food Authority to more than triple this year due to
higher rice imports and hefty losses, The Manila Standard
reports.

The finance department estimated NFA's shortfall to reach Php27
billion this years from last year's Php8.1 billion. DoF said NFA
will overtake National Power Corp. as the no. loss maker of the
14-monitored government-owned and -controlled corporations
(GOCCs).  The state-run food company continued to incur huge
losses as it imported rice at high prices and subsidized a
portion of the imports by selling these at a loss to make them
more affordable to the public.

The projected deficit this year of NFA is expected to account
for about 63 percent of the projected Php42.5 billion deficit to
be incurred by the 14-monitored GOCC this year. This year's
deficit incurred by GOCC will be 53 percent lower than the Php90
billion shortfall incurred last year. In the first quarter of
the year, NFA already incurred a cash deficit of Php6.2 billion
accounting for about 74 percent of the Php8.35 billion deficit
registered by the 14-monitored GOCC.


* 13 Davao Firms Closed Doors as of May
---------------------------------------
The regional office of the Department of Labor and Employment
(DOLE) has confirmed that at least 13 companies in Davao Region
have stopped operating as of May this year, SunStar Daily
reports.

Of the 13, eight declared permanent closure while the remaining
five only claimed temporary closure. The firms mostly are small
and medium enterprises (SMEs) engaged in service, manufacturing
and manpower outsourcing.

DOLE said the companies collapse, which caused the retrenchment
of 374 workers, was due to lack of market for their products.

Data obtained from Dole 11 indicated that of the 374 retrenched
employees, 249 were from the companies that declared permanent
closure, while 125 others were from those that are just
temporarily closed.


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

ASIA PACIFIC LOADING: Creditors' Proofs of Debt Due Aug. 8
----------------------------------------------------------
Notice is hereby given that the creditors of Asia Pacific
Loading Equipment Pte Limited, which is being wound up
voluntarily, are required on or before Aug. 8, 2005 to send in
their names and addresses, with particulars of their debts and
claims, and the names and addresses of their solicitors (if any)
to the liquidators of the Company.

If so required by notice in writing by the said liquidators,
are, personally or by their solicitors, to come in and prove
their said debts or claims at the time & place designated in the
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

Low Sok Lee Mona
Cheng Soon Keong
Liquidators
c/o Low, Yap & Associates
4 Shenton Way
#04-01 SGX Center 2
Singapore 068807


BOYED PTE: Receiving Proofs of Claim Until August 8
---------------------------------------------------
Notice is hereby given that the creditors of Boyed (Singapore)
Pte Limited (formerly known as Dimarco Overseas (Singapore) Pte
Limited), which is being voluntarily wound up, are required on
or before Aug. 8, 2005 to send in their names and addresses and
the particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to the Liquidator of the
company.

If so required by notice in writing from the Liquidator, are by
their solicitors or personally, to come in and prove the said
debts or claims at the time & place designated in the notice. In
default thereof, they will be excluded from the benefit of any
distribution made before such debts are proved.

Dated this 30th Day of June 2005

Sanjay Prakash Mohnot
Liquidator
c/o S P Mohnot & Co.
No. 20 Maxwell Road,
#08-01N Maxwell House
Singapore 069113


ENERLUTION INTERNATIONAL: Creditors to Convene First Meeting
------------------------------------------------------------
Notice is hereby given that the first meeting of the creditors
of Enerlution International Pte Limited will be held on July 22,
2005, 11:30 a.m. at 20 Cecil Street, #12-02/03 Equity Plaza,
Singapore 048944, for the following purposes:

AGENDA

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

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

3. Any other matters.

Dated this 14th July 2005

Mr Don M Ho, FCPA
Liquidator
Messrs. Don Ho & Associates
Certified Public Accountants
Corporate Advisory & Recoveries
20 Cecil Street #12-02 & 03
Equity Plaza
Singapore 049705
Phone: 6532 0320 (8 lines)
Fax:   6532 0331
Note:

To entitle the creditor to vote thereat, proof of debt must be
lodged with the Liquidator not less than forty-eight hours
before July 22, 2005 (the date of the meeting).


HWA HUP: Court Issues Winding Up Order
--------------------------------------
In the matter of Hwa Hup Electric Technologies Pte Limited
(formerly known as Hwa Hup Holdings Pte Limited), a winding up
order was issued by the Singapore High Court on July 1, 2005,
with the following details:

Name and address of Liquidators: The Official Receiver
Insolvency & Public Trustee?s Office
The URA Centre (East Wing)
45 Maxwell Road #05-11/#06-11
Singapore 069118

Shook Lin & Bok
Solicitors for the Petitioner

CONTACT:

Hwa Hup Electric Technologies Pte Limited
128 Joo Seng Road #02-02
DP Computers Building
Singapore 368356
Phone: 65 67427722
Fax :  65 68586631


INFORMATICS HOLDINGS: Notes Increase in Trading Volume
------------------------------------------------------
Informatics Holdings Limited announced that the Singapore
Exchange Securities Trading Limited sent a query letter to the
Company on July 15, 2005, seeking an explanation for the
substantial increase in the trading volume of its shares on the
market.

Attached is the Company?s reply to the SGX Query Letter:

http://bankrupt.com/misc/InformaticsHoldings.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


INTEGRATED DATA: Enters Voluntary Liquidation
---------------------------------------------
Singapore Telecommunications Limited (SingTel) announced that
Integrated Data Services Limited (the Company), an indirect
subsidiary of SingTel, is in voluntary liquidation and has
appointed Mr. Soe Win and Ms. Cho Cho Myint as its liquidators.

The Company has been dormant since December 1999.

CONTACT:

Singapore Telecommunications Limited
31 Exeter Rd., Comcentre
239732 Singapore
Phone: 65 6838 3388
Fax:  65 6732 8428


OKOKU REAL: Wind Up Process Initiated
-------------------------------------
In the matter of Okoku Real Estate Pte Limited, the Singapore
High Court issued a winding up order on the Company on July 1,
2005, with the following details:

Name and Address of Liquidator: The Official Receiver, Singapore
45 Maxwell Road #06-11
URA Centre (East Wing)
Singapore 069118
Dated this 6th day of July 2005

Messrs BOEY, NG & WAN
Solicitors for the Petitioner

CONTACT:

Okoku Real Estate Pte Limited
24 Chapel Road, Singapore 429530
Phone: 65 6440 9788
Fax:   65 6440 5891


SMRT CORPORATION: Passes All AGM Resolutions
--------------------------------------------
Pursuant to Rule 704(14) of the Listing Manual of the Singapore
Exchange Securities Trading Limited, SMRT Corporation announces
that all the resolutions set in the Company?s Annual General
Meeting (AGM) Notice were duly passed at its 6th AGM held on
July 14, 2005.

To view the details of the Company?s AGM, click on:

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

CONTACT:

SMRT Corporation Ltd
251 North Bridge Road
Singapore 179102
Phone: 65 63311000
Fax:   65 63340247
Web site: http://www.smrtcorp.com


VICTORY PARK: Ordered to Close Operations
-----------------------------------------
The Singapore High Court issued a winding up order against
Victory Park Pte Limited on July 1, 2005, with the following
details:

Name and address of Liquidator: The Official Receiver
Insolvency & Public Trustee?s Office
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Rajah & Tann
Solicitors for the Petitioner
4 Battery Road
#26-01 Bank of China Building
Singapore 049908
Phone: 6535 3600
Fax:   6538 8598


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

PAE THAILAND: Names New Chairman of Board
-----------------------------------------
PAE (Thailand) Public Co. Ltd. informed the Stock of Exchange
Thailand (SET) on the agenda and resolutions of the Board of
Directors meeting held on July 14, 2005 at Novotel Bangna Hotel,
Jamruree- Rajavadee Room, the meeting started at 11:30 a.m.

The agenda and resolution are as follows:

(1) The board of directors appointed Mr. Mahidol Chantrangkurn
chairman of the BOD, and also appointed Pol. General Pornsak
Durongkavibulya to be the vice chairman of BOD, Khun Pornsak
will take over the chairman's duty in case of his absence.

(2) The board of directors appointed the chairman of audit
committee and their member as follows;

(2.1) Pol.General Pornsak Durongkavibulya- The Chairman of AC

(2.2) Mr. Sumon Surathin- The committee of AC

(2.3) Asst. Professor Nuchtip Banchongsilpa- The committee of AC

Sincerely Yours,

Soradej Choothesa
Director of Finance & Accounting
PAE (Thailand) Public Company

CONTACT:

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


PAE THAILAND: Unveils Board of Directors' Composition
-----------------------------------------------------
PAE (Thailand) Public Company informed the Stock Exchange of
Thailand (SET) on the results of the extraordinary shareholders
meeting held on July 14, 2005 at Novotel Hotel, room Jamruree-
Rajawadee No. 14/49 Moo 6, Srinakarin Road, Nhongbon Sub
district, Pravet District, Bangkok 10250.

The meeting started at 10:35 a.m. and the following are the
results:

(1) The shareholders approved the minutes of the 2005 annual
ordinary shareholders meeting held on April 25.

(2) Mr. Kobsak Chinawongwatana the chairman of the meeting
informed that 3 board of directors would resign i.e. Mr.Bruce
Edward Daye, Mr. Kiat Boonyapoo, and Mr. Pornsak
Chinawongwatana.

The shareholders approved the appointment of the 7 additional
board of directors as nominated by the shareholders
representative namely:

(a) Mr. Mahidol Chantrangkurn
(b) Pol. General Pornsak Durongkavibulya
(c) Mr. Somchai Sakulsurarat
(d) Mr. Sumon Surathin
(e) Asst. Professor Nuchtip Banchongsilpa
(f) Mr. Thavisakdi Tantananta
(g) Mrs. Jintana Kaveewong

In addition, the shareholders approved to appoint the following
three members of audit committee:

(1) Pol. General Pornsak Durongkavibulya also the Chairman of
Audit Committee

(2) Mr. Sumon Surathin- The committee

(3) Asst. Professor Nuchtip Banchongsilpa- The committee

The shareholders also approved the following four authorized
directors to sign officially the company documents as follows:

Mr. Kobsak Chinawongwatana, Mr. Thavisakdi Tantananta,

Mr. Somchai Sakulsurarat and Mrs. Jintana Kaveewong.

The two directors of the said four directors must sign with the
company rubber stamp.

In summary, the Company's 11 directors are:

(1) Mr. Mahidol Chantrangkurn
(2) Pol. General Pornsak Durongkavibulya
(3) Mr. Somchai Sakulsurarat
(4) Mr. Sumon Surathin
(5) Asst. Professor Nuchtip Banchongsilpa
(6) Mr. Thavisakdi Tantananta
(7) Mrs. Jintana Kaveewong
(8) Mr. Kobsak Chinawongwatana
(9) Mr. Vorasit Pokachaiyapat
(10) Mr. Samorn Thasangkha
(11) Mr. Somboon Kaosam-ang

(3) Any other business: Nil

Sincerely Yours,

Soradej Choothesa
Director of Finance & Accounting
PAE (Thailand) Public Company


PICNIC CORPORATION: Details Utilization of Sale Proceeds
--------------------------------------------------------
As Picnic Corporation Public Company Limited offered shares to
the public amounting THB1,200,000,000, the company issued to the
Stock Exchange of Thailand (SET) a report on the utilization of
THB1,126,915,887.85 as of June 30, 2005 as follow:

Objective          Amount        Used fund   Unused Fund

(1) Construct LPG  THB400 million  THB327 million  THB73 million
    storage facility
    at Samut Songkrum

(2) Invest in gas   THB600 million  THB600 million      -
    cylinder

(3) Working Capital  THB200 million  THB200 million     -

Total        THB1,200 Million  THB1,127 million  THB73 Million

The company also received money from offering shares to existing
shareholders amounting THB777,709,740 and money from warrant
exercised (PICNI-W1) amount THB859,916,290.64, totaling
THB1,637,626,030.64, the company would reported the use of
THB1,637,626,030.64 as of June 30, 2005 as follow:

Objective             Amount      Used fund        Unused Fund

(1) Invest in    THB1,011 million  THB1,011  Million       -
    World Gas
    Company Limited

(2) Invest in Picnic  THB250 Million  THB2500 Million       -
    Marine Company Limited

(3) Working Capital THB376 Million  THB376 Million           -

Total   THB1,637 Million  THB1,1637 Million   -

Please be informed accordingly

Sincerely yours,
Dr. Suphot Phattanasri
Managing Director

CONTACT:

Picnic Corporation Public Company Limited
805 Srinakarin Road, Suan Luang Bangkok
Telephone: 0-2721-3600-59
Fax: 0-2721-3571
Web site: http://www.picniccorp.com


PICNIC CORPORATION: Unit Acquires Pride Logistics
-------------------------------------------------
World Gas (Thailand) Co. Ltd. (WGT), a wholly owned subsidiary
of Picnic Corporation PLC. acquired all common shares of Pride
Logistics Co. Ltd. (Pride) which owns and operates LPG
transportation.  The details of the acquisition are:

Seller: Miss Wipa Mongkonchotiwit and Mr. Santi Pansongkram  who
are not related persons to the company.

Registered and Paid-up Capital: THB1,000,000 million divided
into 10,000 common shares at THB100 par value.

Percentage of Share held: 99.99% of Pride's outstanding shares

Transaction Date: July 5, 2005

Transaction Value: THB1,000,000 million

Benefits: Supporting the company and subsidiaries' LPG Business

Source of Fund: Working Capital

Size of the Transaction: 0.0072% of Picnic and its subsidiaries'
total assets as at March 31, 2005.

Thus, the Company does not have to prepare the report and
disclose the information as stipulated in the SET's Notification
on "Rules, Procedures and Disclosure of Information Concerning
the Acquisition and Disposition of Assets of Listed Companies"
and "Disclosure of Information and Act of Listed Companies
Concerning the Connected Transactions".

Please be informed accordingly

Sincerely yours,
Dr. Suphot Phattanasri
Managing Director


THAI PETROCHEMICAL: PTT Chief Says Founder Still Has Rights
-----------------------------------------------------------
The founder of Thai Petrochemical Industry Public Co. Ltd. (TPI)
may gain control of the company as he has the right to try to
buy it back and convince debt planners and creditors to support
him, reports Business Day, citing PTT Chief Financial Officer
Pichai Chunhavajira.

According to Mr. Pichai, Prachai Leophairatana, as one of the
guarantors of TPI does have the right to propose something.  "I
think that if the planner, or the court, can see that this one
is a good proposal, they may make a decision on that basis." Mr.
Pichai said.

Mr. Pichai added that it is understandable for Mr. Prachai to
want to regain control of TPI because petrochemical and refined
prices are setting records which could attract new investors.
Thai Petrochemical Industry collapsed during the Asian Financial
in 1997.  That time prices of petrochemical and refined products
were falling.

"The situation has changed, the petrochemical cycle is coming,
the refinery [cycle] is coming also at the same time, so the
financial position of the company has been substantially
changed", Business Day quotes Mr. Pichai as saying.

Mr. Prachai and minority shareholders of TPI, who holds about 25
percent stake tried to override the restructuring program
initiated by the Ministry of Finance.  He sought the help of a
Chinese partner to finance his plans of buying back TPI shares
worth $2.7 billion.  But CITIC Resources Holdings withdrew from
talks earlier this month.

The TPI founder is currently in search of another backer in
place of CITIC, but declined to name the companies he is
negotiating with.

CONTACT:

Thai Petrochemical Industry Pcl
TPI Tower, Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok



                            *********


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

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