TCRAP_Public/050825.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

             Thursday, August 25, 2005, Vol. 8, No. 168

                            Headlines

A U S T R A L I A

A.K. STONEGUARDS: Members Opt for Voluntary Liquidation
BAMBAKIT PTY: Set to Declare Dividend August 31
BARRY JUPP: Creditors Decide to Shut Down Business
BUTTCOLE PTY: Final Meeting Fixed September 1
CLOUGH LIMITED: Experiences AU$59.6M FY Loss

DAVTIN CORP: To Distribute Final Dividend
DEMEDIA AUSTRALIA: Creditors OK Liquidator's Appointment
DORANS FINE: Liquidation Looms for Jam Maker
EG GREEN: Workers Frown at Reopening Plan
FELTEX CARPETS: Unveils Audited Results

FORTWIN PTY: Liquidator Details Wind Up Manner
FRANKLY SPEAKING: Creditors Bring Out the Swatter
GEIG & TOUM: Creditors Resolve to Wind Up Firm
KNIGHTS INSOLVENCY: Securities Stay Suspended
LAN IQ: Enters Voluntary Liquidation

MAYNE GROUP: Books Healthy Increase in Full-year EBIT
MELISSA PROPRIETARY: Members to Review Liquidator's Report
MO95 PTY: Appoints Official Liquidators
MTF INVESTMENTS: Court Issues Winding Up Order
MYER LIMITED: Teams Up with Kmart

MYER LIMITED: Westfield Worries About its Tenants
OUTSIDE THE GROUP: Members Pass Winding Up Resolution
PFS WHOLESALE: ASIC Completes Shut Down of Superannuation Biz
PRECIOUS LITTLE: Placed Under Liquidation
PURE NEW ZEALAND: Inks Deal to Acquire Lombard Finance

QANTAS AIRWAYS: To Increase Fuel Surcharges
RESDALE PTY: Liquidator to Distribute Company Assets
RV TRITECH: Members Decide to Wind Up Operations
SHADE & PLAY: Joint Liquidators Named
SOUTH EASTERN: Begins Wind Up Proceedings

STORAGE ADVISORY: Pays Dividend to Creditors
TEAC AUSTRALIA: Developer Pursued over AU$6-Mln Loan
WATERFALLS DEVELOPMENTS: Supreme Court Orders Winding Up
WESTBUS: Hope Glimmers for Sinking Operations


C H I N A  &  H O N G  K O N G

BANK OF COMMUNICATIONS: May Enter Insurance Business
BILLION MORTGAGES: Court Issues Winding Up Order
CHINA CONSTRUCTION: Temasek to Invest $2.4 Bln in Bank
CHINA CONSTRUCTION: Credit Suisse Seeks $500-Mln Stake
CHINA MERCHANTS: FY05 Net Loss HK$18 Mln

DUNHUANG COMPANY: Placed Under Liquidation
GAINFULL CORPORATION: Court Orders Business Closure
LEMAN SKI-JACKET: To Undergo Winding Up Process
QPL INTERNATIONAL: Swings to FY05 HK$269 Mln Loss
SHA TIN: To Undergo Liquidation Proceedings

STAR CRUISES: Books US$10.6 Mln Profit
TREASURE CONTINUATION: Falls Into Liquidation
YUE XIU: Winds Up Operations


I N D O N E S I A

BANK DANAMON: Bourse Grants Listing of 25,500 Shares
PERTAMINA: To Replace Directors This Week


J A P A N

MITSUBISHI MOTORS: Gets `No Confidence" Vote in Survey
MITSUBISHI MOTORS: To Launch In-wheel Motor Electric Vehicle
MITSUBISHI MOTORS: High Fuel Prices Speed Up Electric Car Plans
SEIBU RAILWAY: To Reorganize Prince Hotels
SOFTBANK CORPORATION: Details Restructuring Scheme

SOFTBANK CORPORATION: Forges Capital Alliance With Invoice


K O R E A

HANARO TELECOM: Losses Prompts Firm to Reduce Cost


M A L A Y S I A

ANCOM BERHAD: Buys Back 161,000 Ordinary Shares
ASIAN PAC: Redeems RCSLS Nominal Value
EMICO HOLDINGS: Updates Winding Up Petition Served on Unit
FOUNTAIN VIEW: Issues New Shares for Listing
HABIB CORPORATION: To Issue, Allot Shares

HABIB CORPORATION: Unveils Rights Issue Results
HAP SENG: Repurchases New Shares
LION CORPORATION: To Seek Approval on Proposed Mandate at AGM
LION INDUSTRIES: Net Loss Slides to MYR12,704,000
LION INDUSTRIES: Director Gains Right to Subscribe in New Shares

LION INDUSTRIES: Seeks Shareholders' OK to Renew Mandate
MANGIUM INDUSTRIES: Unit Fails to Pay Dues
MBF HOLDINGS: Court to Decide on Execution of Stay
PARK MAY: Board Dissolves Executive Committee
PUNCAK NIAGA: Bourse to List New Shares

PUNCAK NIAGA: Granted Ex-Parte Injunction Application


P H I L I P P I N E S

BENPRES HOLDINGS: Clarifies Avenue Asia's Debt Purchase
COLLEGE ASSURANCE: Expects Fresh Funds by September
MANILA ELECTRIC: TOU Pricing Scheme Seen Boosting Finances
NATIONAL BANK: Moody's Affirms Ratings After Privatization
NATIONAL POWER: JBIC Delay Prompts More Borrowing

PHILIPPINE AIRLINES: Earns US$27.5 Mln in 3 Months


S I N G A P O R E

ACCORD CUSTOMER: Issues News Article Clarification
SOON TAT: To Distribute Preferential Dividend Next Month
UNITED FIBER: Taps Consultants on Paper Firm Acquisition
WEE POH: Posts Sharp Decline in Net Loss for 2005
WENCON SINGAPORE: Creditor Seeks to Wind Up Business


T H A I L A N D

DAIDOMON GROUP: Court to Hear Rehab Petition September 12
RS PROMOTION: Radio Business Helps Boost Revenue
THAI-GERMAN PRODUCTS: Net Income Drops to THB0.6Mln
THAI NAM: Explains Increase in Net Profit
THAI WAH: Answers SET Query

     -  -  -  -  -  -  -  -

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

A.K. STONEGUARDS: Members Opt for Voluntary Liquidation
-------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of a.k. Stoneguards Australia Pty Limited held on
July 15, 2005, it was resolved:

(1) That the Company be wound up voluntarily; and

(2) That Anthony Christopher Matthews of Anthony Matthews &
Associates, Ground Floor, 91 Hutt Street, Adelaide, South
Australia be appointed Liquidator for such winding up.

Dated this 15th day of July 2005

Anthony C. Matthews
Liquidator
Anthony Matthews & Associates
Ground Floor, 91 Hutt Street
Adelaide SA 5000
Phone: (08) 8232 8885
Fax:   (08) 8232 8886


BAMBAKIT PTY: Set to Declare Dividend August 31
-----------------------------------------------
Bambakit Pty Limited will declare a first and final dividend on
Aug. 31, 2005.

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

Dated this 18th day of July 2005

M. C. Donnelly
Official Liquidator
c/- Ferrier Hodgson
Level 17, 2 Market Street
Sydney NSW 2000


BARRY JUPP: Creditors Decide to Shut Down Business
--------------------------------------------------
Notice is hereby given that at a meeting of creditors of Barry
Jupp held on July 13, 2005, it was resolved that the Company be
wound up, and David H. Scott of Jones Condon Chartered
Accountants, 77 Station Street, Malvern, Victoria was appointed
Liquidator for such purpose.

Dated this 18th day of July 2005

David H. Scott
Liquidator
Jones Condon
Chartered Accountants
77 Station Street
Malvern Vic 3144


BUTTCOLE PTY: Final Meeting Fixed September 1
---------------------------------------------
Notice is hereby given that the final meeting of members of
Buttcole Pty Limited will be held on Sept. 1, 2005, 10:30 a.m.
at 143 Bourke Street, Goulburn, NSW, to lay before the meeting
the liquidator's final account and report, and give an
explanation thereof.

Dated this 21st day of July 2005

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


CLOUGH LIMITED: Experiences AU$59.6M FY Loss
--------------------------------------------
Clough Limited reported a net loss of AU$59.6 million for the
full year to June 30, 2005.  The result was due primarily to
losses incurred on the BassGas contract.  

PT Petrosea and the Services and Property business units
performed well, in line with expectations.   

Revenue from the group's operations of AU$549.3 million was 27%
lower than the previous year, however, this result is in line
with the company's internal plans.  The movement was due to
delays in rebuilding the company's order book during 2004.   

Mr David Singleton, CEO and Managing Director of Clough Limited,
said; "We have been very encouraged by the progress made in
several areas of the business.  However, it is a disappointing
overall result for the year driven primarily by our
determination to take a prudent financial position on BassGas."   

The order book has improved since last year end with work in
hand totaling AU$851.1 million, more than double the value at
June 2004.  Geographic results continue to reflect the company's
market focus being Australia and the greater South East Asian
Region.   

"At this time, the work in hand figures only included a minor
contribution from the Saudi Aramco Project Management Services
and Gorgon Front End Engineering Design contracts, which will
open the way to revenue growth in the next few years.  These and
other engineering service projects will be fundamental for
transforming the risk profile within the group." Mr Singleton
said.   

The results when viewed by activity, show a loss of AU$89.3
million in our fixed price contracting line of business.  This
includes cost overruns to complete both the onshore and offshore
facilities of BassGas, provisions to reflect bank guarantees
cashed by the BassGas JV and the costs of pursuing the company's
claim through arbitration, and fixed cost write-offs due to the
lower volume of activity.   

Profit in Engineering, Procurement and Construction Management
and Engineering Services derived mostly from the oil and gas
sector was AU$5.0 million.  Although below the previous year
this was ahead of Clough's internal plans. These results have
reflected the growth in activities from a number of new multi-
year contracts.  The company expects continued growth in this
line of business.   

PT Petrosea delivered an increased profit of AU$6.8 million
primarily from mining and mine services and continues to provide
a regional outlet for Clough's oil and gas activities. During
the year, Petrosea signed a new multi-year contract for the
provision of mining services in Kalimantan. Future revenue
growth is supported by increasing mining activity and increasing
oil and gas investment in Indonesia.   

Clough Property delivered profits of AU$9.6 million sustaining
the business improvement first demonstrated in 2004.  The
Property business has continued to identify and acquire
development projects across Australia and is expected to achieve
sustained growth in the medium and long-term.   

The 2005 full year result includes profits of AU$11.8 million
mostly from the disposal of the company's interest in the Shark
Bay Salt Joint Venture, which was sold to Mitsui.   

The company has net tax losses in excess of AU$40 million which
are not included in the balance sheet.  Tax costs relate mostly
to overseas companies.   

Group net assets decreased by AU$27.6 million to AU$185.1
million, which included a AU$6.7 million reduction in the value
of assets held overseas, due to the appreciation of the
Australian dollar. Net cash holdings at the full year were
AU$7.7 million reduced by AU$34.1 million from the previous
year.  During the year, the company generated AU$40.0 million
from an equity placement to Murray and Roberts Holdings Limited
of South Africa. The resulting net cash outflow of AU$74.1
million relates substantially to the BassGas contract.   

Given the company's loss and the working capital issues relating
to the BassGas project, the Board of Clough Limited has elected
not to pay a dividend at the full year.   

Murray & Roberts Strategic Alliance   

The approval late in 2004 of the strategic alliance with South
African engineering, construction and manufacturing group Murray
& Roberts included the establishment of an alliance to enhance
Clough's capability in the mining and minerals processing
sectors.  The two companies are currently bidding a number of
minerals beneficiation projects primarily targeting Engineering
Procurement and Construction Management contracts in Australia
and South East Asia .   

Services Success - Transformational contracts   

Significant progress has been made developing the Services
Business Unit. The awarding of the Saudi Aramco Project
Management Services contract undertaken In-Kingdom (Saudi
Arabia) and the Gorgon Front End Engineering and Design contract
for Chevron have seen the group progressing towards the
strategic goal of deriving 50% of the group's revenues from
lower risk, non-EPC contracts.

CONTACT:

Clough Limited
Head Office &
Principal Registered Office
Level 6, 251 St Georges Terrace
Perth, Western Australia 6000
Telephone: +618 9281 9281
Facsimile: +618 9481 6699
E-mail: clough@clough.com.au
Web site: http://www.clough.com.au/


DAVTIN CORP: To Distribute Final Dividend
-----------------------------------------
Davtin Corp. Pty Limited is set to declare a final dividend on
Sept. 1, 2005.

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

Dated this 12th day of July 2005

Gregory W. Hall
Level 8, 201 Sussex Street
Sydney NSW 1171


DEMEDIA AUSTRALIA: Creditors OK Liquidator's Appointment
--------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Demedia Australia Pty Limited held on July 15,
2005, it was resolved that the Company be wound up voluntarily.

At a meeting of creditors held on the same day, it was resolved
that Stan Traianedes of Hall Chadwick Chartered Accountants &
Business Advisers, Level 12, 459 Collins Street, Melbourne be
appointed Liquidator for the winding up.

Dated this 15th day of July 2005

Stan Traianedes
Liquidator
Hall Chadwick
Chartered Accountants & Business Advisers
Level 12, 459 Collins Street
Melbourne Vic 3000


DORANS FINE: Liquidation Looms for Jam Maker
--------------------------------------------
Dorans Fine Foods is in danger of going into liquidation upon
approval by its creditors, according to Mercury News.

The administrator of the Huon Valley-based jam maker said it
will recommend the winding up to creditors.

Hobart chartered accountant Barry Hamilton said that there was a
possibility the business could be sold as a going concern.

Dorans Fine Foods was put into voluntary administration by
Launceston businessman Phillip Ridyard on July 28, just two
months after over the firm. Production has topped since then,
causing 12 employees to lose their jobs.

Mr. Hamilton said that he would put the plant and equipment,
stock and business into the hands of an auctioneer to sell.

Dorans Fine Foods was bought by Mr. Ridyard in May with the help
of AU$37,000 vendor finance from Queensland businessman David
Baird.  Some of the vendor finance was used to finance a trip to
Dorans customers in Malaysia. However, former employees have
complained the business lacked working capital.

In October 1996, the Company boasted a 500 percent sales
increase over the previous four years and an annual growth rate
of 60 percent. But by April 2000 the company was placed in the
hands of an administrator.

The ailing Dorans was saved in a last minute move by Gold Coast
businessman David Baird, a millionaire who not long before had
sold his company Cellular One for more than AU$30 million.

CONTACT:

Doran's Fine Foods
Pages Road,
Grove,
Tasmania 7109
Phone: (03) 6266 4377
International +61 3 6266 4377
Fax: (03) 6266 4636
E-mail: dorans@doransjams.com
Web site: http://www.doransjams.com/


EG GREEN: Workers Frown at Reopening Plan
-----------------------------------------
Workers of troubled meat processor EG Green and Sons' Harvey
abattoir are skeptical about the planned reopening of the
facility on Monday, The West Australian reports.

Harvey meat workers were still uncertain about their future and
that of EG Green's even after news of Harvey's reopening.

They questioned who would sell cattle to a Company owing AU$44
million and rejected assurances job losses were unlikely.

Monday's planned restart would be as a five rather than seven-
day-a-week operation, which means hundreds of workers would have
to bite further into leave entitlements.

Agriculture Minister Kim Chance said he had made it clear to
those negotiating the abattoir's long-term future the
introduction of Australian workplace agreements would mean an
end of State Government support.

Australian Meat Industry Employees Union secretary Graeme Haynes
said potential buyers needed to ensure wages and conditions
remained equitable.

CONTACT:

EG Green and Sons
Hamilton Hill Office
16 Emplacement Crescent
Hamilton Hill WA 6163
Phone: 08 9433 2000
Fax: 08 9433 2122
Freecall: 1800 017 345
E-mail: sales@harveybeef.com.au


FELTEX CARPETS: Unveils Audited Results
---------------------------------------
The Board of Directors on Wednesday confirmed the audited
earnings before restructuring costs for the June 2005 year were
NZ$13 million and, after one-off restructuring costs, NZ$11.8
million.

"This result reflects the adverse combination of factors that
became clear to us in late March. We have and are implementing
wide-ranging changes to the company. We are single-mindedly
focused on rebuilding shareholder value in the business as
quickly as possible," said Feltex chairman Tim Saunders.

Operating revenue declined by 8.8% to NZ$300.2 million. New
Zealand sales remained strong and were up 8.1% for the year
while Australian sales declined by 7.6%. The strong New Zealand
dollar adversely affected the translation of Australian sales
into New Zealand dollars.

Margins on Australian sales decreased because of price
competition from imports, intense local competition and higher
synthetic raw material costs. These factors, and the 8.8%
decline in operating revenue, lead to the 25.7% decline in
EBITDA.

The operating surplus was NZ$13 million before the one-off costs
for restructuring and redundancies including that for the
departing chief executive and four other senior executives of
NZ$1.3 million after tax.

Mr. Saunders also announced that Chief Executive Mr. Magill will
step down (Wednesday), and Mr. Peter Thomas will assume the role
of Executive Director until the new chief executive is appointed
and takes up the role.

"The Board has a good shortlist of chief executive candidates
and we are on track to make an appointment before the Annual
General meeting in December", said Mr. Saunders.

"The Board has appointed Peter Thomas to the role because Sam
Magill has successfully completed the management restructuring
that resulted in 46 management positions being made redundant."

Mr. Thomas has been a director of Feltex for nine years and was
an executive of Credit Suisse First Boston in Australia for
twenty years from 1981 to 2001, managing director of Australian
operations from 1983 to 1994 and chairman of New Zealand
operations from 1990 to 1994.

Mr. Magill has been the chief executive of Feltex Carpets since
2000 and was formerly managing director of Shaw Industries
Australia that merged with Feltex in 2000. He has held positions
in the carpet industry for 36 years.

"It is time for the senior executives, including those recently
appointed, to step up and work as a new team. Sam Magill has
done a good job readying the company for its transition to a
leaner and different business, and Peter will do an excellent
job of overseeing the executive team until the new chief
executive is appointed.

"Good progress is being made with the operational review work-
streams examining the different options for plant relocation and
rationalizations. The Board expects to make decisions on this
work in the next few months. These will result in structural
changes to our business that will generate longer-term savings
and much improved performance to benefit shareholders."

The Board has made the decision to revert to six monthly and
annual announcements of financial performance rather than
quarterly as has been the case for the past year.

"Any material matters will continue to be reported to the market
as soon as the Board is aware of them," said Feltex chairman Mr
Saunders.

"The merger discussions with Godfrey Hirst remain at the stage
of seeking reciprocal information and agreeing to the terms on
which it is to be shared," said Mr. Saunders.

CONTACT:

Feltex Carpets Ltd
Feltex Centre
145 Symonds Street
PO Box 2884
Auckland
Telephone: +64 9 379 1900
Fax: +64 9 379 1911
E-mail: feedback@feltex.com
Web site: http://www.feltex.com/


FORTWIN PTY: Liquidator Details Wind Up Manner
----------------------------------------------
Notice is given that a Final Meeting of Members and Creditors of
Fortwin Pty Limited will be held on Sept. 2, 2005, 2:00 p.m. at
Frasers Insolvency Advisory, Level 9, 99 Elizabeth Street,
Sydney NSW 2000 for the following reasons:

AGENDA

(1) To consider the Liquidator's final account; and

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

Dated this 2nd day of August 2005


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


FRANKLY SPEAKING: Creditors Bring Out the Swat
----------------------------------------------
CREDITORS have decided to wind up The Frankly Speaking Company
Pty Ltd, publisher of The Fly street newspaper, Cairns Post
reports.

The company went into liquidation owing debts of AU$256,003.

The decision was made at a creditors meeting on Friday.


GEIG & TOUM: Creditors Resolve to Wind Up Firm
----------------------------------------------
Notice is hereby given that at a meeting of creditors of Geig &
Toum Pty Limited held on July 14, 2005, it was resolved that the
Company be wound up, and Andrew Hugh Jenner Wily of Armstrong
Wily, Chartered Accountants, Level 5, 75 Castlereagh Street,
Sydney NSW 2000 was appointed Liquidator.

Dated this 15th day of July 2005

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


KNIGHTS INSOLVENCY: Securities Stay Suspended
---------------------------------------------
Knights Insolvency Administration Ltd said on August 23, 2005
that its securities will continue to be suspended from quotation
while it undertakes investor discussions, according to
Australian Company News Bites.

These discussions are having a delaying effect on the company's
dealings with the ANZ Bank and its continued support, according
to Knights.

On August 22 the Australian Stock Exchange (ASX) suspended
Knights' shares from quotation as Knights did not pay the ASX
fees.

CONTACT:

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


LAN IQ: Enters Voluntary Liquidation
------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Lan IQ Data Systems Pty Limited held on July 14,
2005, it was resolved that the Company be wound up voluntarily.

At a creditors' meeting of creditors held on the same day, it
was resolved that Richard Herbert Judson of Judson & Co.
Chartered Accountants, Level 1, 10 Park Road, Cheltenham be
appointed liquidator for such purpose.

Dated this 14th day of July 2005

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


MAYNE GROUP: Books Healthy Increase in Full-year EBIT
-----------------------------------------------------
Mayne Group Limited on Wednesday announced an 11% increase in
earnings before interest, tax and significant items (EBIT) for
its continuing business to $174 million for its 2005 financial
year and an increase in cash earnings per share (EPS) of 16% to
29.2 cents.

2005 financial year highlights

- Continuing business revenue up 9% to $3.8 billion
- Continuing business EBITA (before significant items) up 18% to
$277 million
- Continuing business EBIT (before significant items) up 11% to
$174 million
- Like-for-like EBIT (i.e. pre securitization costs) up 13%
compared to guidance of around 10% EBIT growth provided at first
half results  
- Continuing business NPAT (before significant items) up 10% to
$91 million
- Cash EPS (reported EPS before amortization and significant
items) up 16% to 29.2 cents per share
- Continued strong balance sheet with 10% gearing Demerger on-
track for completion by 31 December 2005

To compare EBIT on a like-for-like basis and with the guidance
provided by Mayne at the half year, $2.4 million of debtors
securitization financing costs should be added back. On that
basis, like-for-like EBIT (before significant items) increased
13% during the year to $176.2 million in comparison to $156.6
million in fiscal year 2004.

Capital management

As reported in Mayne's first half results, Pharmacy entered into
a debtor securitization program that enables it to reduce
capital employed in the business by more than $250 million.  As
a result of the securitization and improvements in inventory
management, capital employed in Pharmacy decreased by
approximately $210 million in the second half of fiscal 2005.

Growth achieved in Mayne Pharma

Mayne's injectable generic and specialty pharmaceutical
business, Mayne Pharma, increased continuing sales revenue by
36% to $655 million and continuing business EBITA, before
litigation costs relating to Epirubicin (amounting to $10
million pre-tax), increased by 30% to $126.2 million.  

Growth achieved in Mayne's domestic businesses

Mayne's domestic businesses also delivered a strong result
overall with revenues for the continuing business increasing
5.2% to $3.2 billion and EBITA increasing 13% to $170.4 million
over the prior year.

Diagnostic Services, which includes Pathology, Medical Centres
and Diagnostic Imaging, reported a 15% increase in EBITA to
$110.7 million on revenue growth of approximately 7% to $856
million.  

Mayne Pharmacy's reported revenue increased 4% as the business
continues to focus on refreshing its brands and retail services
offering and delivering superior wholesaling services at
competitive prices.  After adjusting for securitization charges,
EBITA decreased by $3.7 million to $35.0 million.  

Outlook

The outlook for each of Mayne's domestic businesses as well as
Mayne Pharma is being reviewed as part of the demerger process.  

In regards to Mayne's outlook, Mr. James said, "We expect the
domestic businesses, as a group, to continue steadily growing
like-for-like EBITA in fiscal year 2006 on the back of stable
revenue growth across the portfolio of businesses.

Demerger update

In June 2005, Mayne announced its determination to recommend to
shareholders a demerger involving separate listings of Mayne
Pharma and the domestic healthcare businesses in Australia.   

Mayne continues to make good progress in developing its demerger
proposal and anticipates that it will deliver an explanatory
memorandum to shareholders so as to achieve our plans to
complete the demerger process by the end of this calendar year.

A copy of the entire media release is available free of charge
at: http://bankrupt.com/misc/tcrap_maynegroup082405.pdf.

CONTACT:

Mayne Group
Level 21/390 St Kilda Rd
Melbourne 3004
Phone: +613 9868-0700
Web site: http://www.maynegroup.com/


MELISSA PROPRIETARY: Members to Review Liquidator's Report
----------------------------------------------------------
Notice is hereby given that the final meeting of members of
Melissa Proprietary Limited will be held on Sept. 1, 2005, 9:00
a.m. at the offices of Bush & Campbell Pty Ltd, Accountants, of
30 Blake Street, Wagga Wagga, to lay before the meeting the
liquidator's final account and report and give any explanation
thereof.

Dated this 6th day of July 2005

David R. Pyke
Liquidator
Bush & Campbell Pty Ltd
Accountants
30 Blake Street
Wagga Wagga NSW 2650


MO95 PTY: Appoints Official Liquidators
---------------------------------------
Notice is given that Paul Burness and Morgan Lane, Registered
Liquidators of Worrells, Level 5, 15 Queen Street, Melbourne Vic
3000, were appointed Liquidators of MO95 Pty Ltd at a general
meeting of the Company's members held on July 14, 2005.

Dated this 14th day of July 2005

Paul Burness
Morgan Lane
Liquidators
Worrells Solvency & Forensic Accountants
Level 5, 15 Queen Street
Melbourne Vic 3000
Web site: http://www.worrells.net.au/


MTF INVESTMENTS: Court Issues Winding Up Order
----------------------------------------------
On July 19, 2005, the Supreme Court of New South Wales ordered
the winding up of MTF Investments Pty Limited, and appointed
Thomas Javorsky to be Liquidator of the Company.

Thomas Javorsky
Liquidator
c/o Jones Condon
Chartered Accountants
Phone: (02) 9251 5222


MYER LIMITED: Teams Up with Kmart
---------------------------------
Struggling Myer Limited and Kmart have consolidated their toy
buying capacity and are looking for areas where they can share
costs, The Australian reports.

Myer moved in February to merge with Kmart, which is famous for
its toy expertise.

Myer chief Dawn Robertson said the two retailers did a lot
together in electrical, but did not have one set of buyers yet.
Her comments came in the wake of Myer's disappointing final-
quarter sales result last week and a group announcement that the
chain might be sold or demerged.

The Myer network has 61 stores, after five closures in the past
2 1/2 years.

But Ms. Robertson rejected claims that 20 Myer stores were
unprofitable.

"It is not even close to that," she said. "Now there are some
stores that are in locations that, on a clean sheet of paper we
would not put up, absolutely.

Ms Robertson said that management was "now addressing" old
issues relating to merchandise and point-of-sales computer
systems.

The new merchandising system would allow stores to determine
more exactly the range of merchandise they would stock.

CONTACT:

Myer Limited
295 Lonsdale Street
Melbourne Vic 3000
Telephone: (61 3) 9661 1111
Facsimile: (61 3) 9661 3770
Web site: http://www.myer.com.au

or

Coles Myer Limited
800 Toorak Road
Tooronga Vic 3146
Telephone: (61 3) 9829 3111
Facsimile: (61 3) 9829 6787
Web site: http://www.colesmyer.com.au


MYER LIMITED: Westfield Worries About its Tenants
-------------------------------------------------
Westfield and Coles Myer are expected to begin negotiations soon
over the future of the leases of 20 Myer Limited stores that
could be affected if the Myer chain is divested, The Australian
reports.

Property specialists have speculated that Myer's head office in
Melbourne could be a possible bargaining chip between Westfield
and Coles Myer, as it seeks to review the future of the Myer
chain.

The Myer Melbourne store, which runs across two city blocks in
the prime Melbourne CBD area, is one of only four centres owned
directly by the Coles Myer group.  

The leases of about 20 Myer stores in Westfield centres would
have to be renegotiated if the 61-store Myer chain were sold off
or floated on the exchange out of the Coles Myer group.

Coles Myer would not comment on its discussions with Westfield
yesterday.

But a spokesman said that part of the rationale for last week's
announcement that it was reviewing the future of Myer was to
"give us the ability to talk candidly to a whole range of
external and internal stakeholders with a view to finding the
best outcome for Coles Myer shareholders and the Myer business".

Coles chief executive John Fletcher had sought to play down the
complexities of having to renegotiate the leases with Westfield,
but analysts say it will be a critical factor in the future of
the Myer chain.

Westfield's own share price was partly based on the fact that it
had head leases for stores with a company that had Coles Myer's
strong balance sheet. It was unlikely that any prospective buyer
of the Myer stores would have the same balance sheet.

Myer Limited is the ailing department store subsidiary of Coles
Myer Limited.


OUTSIDE THE GROUP: Members Pass Winding Up Resolution
-----------------------------------------------------
At an Extraordinary General Meeting of Outside The Group Pty
Limited held on July 15, 2005, the Company's members resolved to
wind up the Company voluntarily, and to appoint Keiran Hutchison
and John Gibbons of Ernst & Young, Level 37, 680 George Street,
Sydney NSW 2000 as Liquidators for the winding up.

Dated this 26th day of July 2005

John Gibbons
Keiran Hutchison
Liquidators
Ernst & Young
Level 37, 680 George Street
Sydney NSW 2000
Phone: 02 9248 5555


PFS WHOLESALE: ASIC Completes Shut Down of Superannuation Biz
-------------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
been successful in having a provisional liquidator appointed to
two companies related to a superannuation business.

His Honour Justice Philip Mandie ordered that Mr. Gess Rambaldi
and Mr. Andrew Yeo, of Pitcher Partners, be appointed jointly
and severally as the provisional liquidators of the PFS
Wholesale Mortgage Corporation Pty Ltd and Shaun White Pty Ltd.

This application follows ASIC's earlier success in getting
orders appointing a provisional liquidator to PFS Business
Development Group Pty Ltd and eight other companies, as well as
restraining Mr. Shaun Oliver White, Mrs. Nicole White and Mr.
Damian Tolson from carrying on business relating to
superannuation.

ASIC had successfully applied for orders on 5 August 2005,
restraining each of the following parties (the PFS Group) from
carrying on a financial services business without holding an
Australian Financial Services license (AFSL) or from carrying on
a business related to superannuation interests (without holding
an AFSL):

PFS Business Development Group Pty Ltd
PFS Construction Consulting Group Pty Ltd
PFS Construction Consulting Group (Ashridge Lane A) Pty Ltd
PFS Construction Consulting Group (Ashridge Lane B) Pty Ltd
PFS Construction Consulting Group (Ashridge Lane C) Pty Ltd
Kaluski White & Associates (Black Gully Road) Limited
Meridian Event Management Pty Ltd
Nycam Werd Pty Ltd
Kaluski White & Associates Pty Ltd (In Administration)
Shaun Oliver White
Nicole White
Damian Tolson.

Orders similarly restraining PFS Wholesale Mortgage Corporation
Pty Ltd and Shaun White Pty Ltd were granted by Justice Mandie.

ASIC has alleged, among other things, that the PFS Group misled
investors and acted unconscionably, leading investors to roll
over approximately $800,000 of existing superannuation funds
into self-managed superannuation funds (SMSFs) that the PFS
Group established for them, while also leading investors to
invest a further $700,000 into joint venture investments with
the PFS Group.

ASIC is continuing to investigate how the funds invested with
the PFS Group have been used. Mr. Rambaldi and Mr. Yeo will
provide their report as provisional liquidators to the court by
23 September 2005. The proceedings have been adjourned to 21
October 2005.

ASIC's Executive Director of Enforcement, Ms Jan Redfern said
ASIC took action to protect the community.

"ASIC acted to restrain these operators from providing financial
advice or offering financial products enticing people to
rollover their superannuation funds into 'do it yourself' funds.
This case highlights the importance of carefully considering the
options when it comes to managing your super," Ms Redfern said.

This action arose out of ASIC's superannuation switching
surveillance, which was developed to ensure advisers fulfill
their obligations in relation to providing advice on a client's
existing superannuation fund and any new fund that might be
recommended.

The obligations of financial advisers and trustees of SMSFs are
set out in 'Meeting your Obligations', a booklet recently
published by ASIC and the ATO. It also details the approach ASIC
and the ATO will take to ensure people comply with their
obligations.

Consumers are encouraged to call ASIC's Infoline on 1300 300 630
for a copy of the booklet, or for further information.


PRECIOUS LITTLE: Placed Under Liquidation
-----------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Members of Precious Little Blossom Pty Limited held on July
14, 2005, it was resolved that the Company be wound up
Voluntarily, and that Oren Zohar and Brian Keith McMaster of
KordaMentha, Level 11, 37 St. George's Terrace, Perth WA be
appointed Liquidators for the winding up.

Dated this 18th day of July 2005

Brian K. McMaster
Oren Zohar
Liquidators
KordaMentha
Level 11, 37 St. George's Terrace
Perth WA


PURE NEW ZEALAND: Inks Deal to Acquire Lombard Finance
------------------------------------------------------
Pure New Zealand Ltd announced that it has entered into a heads
of agreement to acquire 100% of Lombard Finance & Investments
Ltd (Lombard Finance).

The transaction is subject to two- way due diligence and
thereafter all required approvals including shareholder
approvals. Upon completion PUR will be renamed Lombard Group
Ltd.

"Assuming implementation, this acquisition will make PUR a
growing, focused and profitable business. This will be a new and
pleasing experience for PUR shareholders who have not been
involved with profitable activity for a number of years," PUR
executive chairman Ian Smith said.

In the year to 30 June, 2005 Lombard Finance made pre-tax
profits of $7.2m, and after-tax profit of $4.58m.

Assuming the transaction is implemented, Lombard Finance will be
acquired at a value of $50m and PUR will issue 2 billion PUR
shares at 2.5c (the last traded price), taking its total shares
on issue to 2.157 billion. Contemporaneously a 50:1 capital
reduction will reduce shares on issue to 43.14 million shares.

At the completion of the acquisitions, and subject to
shareholder approval, PUR will also change its name to Lombard
Group Ltd and appoint new directors to the board.

The proposed transaction is subject to a number of conditions
including:
- Satisfactory outcome of two-way due diligence
- PUR independent appraisal report supporting the transaction
- the approval of the acquisitions and related proposals by the
shareholders of PUR;
- the Company obtaining all necessary approvals, exemptions and
waivers from NZX and the approval from Takeovers Panel

Once the Acquisition has been settled, current PUR shareholders
will own around 4.1% of the new business, and shares to be
issued to creditors to convert debt to equity at an upcoming
general meeting will compromise 2.1%. As a result of the
acquisition of Lombard Finance, parties related to Lombard
Finance will own approximately 85.5% of the expanded capital of
PUR and a party unrelated to Lombard Finance or its management
will own 8.3%.

Ian Smith said he was pleased to have reached the heads of
agreement with the shareholders of Lombard Finance. "I view
implementation of this transaction as an excellent move for PUR
into the growing secondary finance sector of the New Zealand
economy", he said.

Lombard Finance & Investments Ltd is a New Zealand-owned private
company, chaired by the Rt Hon Sir Douglas Graham.

CONTACT:

Pure New Zealand
Web site: www.purenz.co.nz/


QANTAS AIRWAYS: To Increase Fuel Surcharges
-------------------------------------------
Qantas Airways said Tuesday that it would increase its fuel
surcharges because of the continued escalation of the price of
crude oil and jet fuel.

The Chief Executive of Qantas, Mr. Geoff Dixon, said the
decision had been made reluctantly.

"The volatility of current and future oil and jet fuel prices is
a serious issue for all airlines," Mr. Dixon said.

"At current prices, the Qantas fuel bill will rise by more than
AU$1.25 billion this year.

"Hedging and surcharges will continue to partially offset this
significant cost. However we still face a $650 million shortfall
at current prices."

The new surcharges are:

(1) For Qantas domestic travel in Australia and New Zealand, an
increase of AU$6 from AU$20 to AU$26 incl GST;

(2) For QantasLink domestic travel, an increase of AU$2 from
AU$20 to AU$22 incl GST;

(3) For Qantas trans-Tasman travel, an increase of AU$6 from
AU$40 to AU$46; and

(4) For other Qantas and Australian Airlines international
travel, an increase of AU$15 from AU$60 to AU$75.

They will be effective on tickets issued on or after Friday 2
September 2005.

At this stage, there will be no increase in the surcharge on
Jetstar domestic services, which remains at AU$19 (incl GST).

Mr. Dixon said Qantas would continue to monitor the impact of
the surcharge increases on demand.

The surcharges apply to each flight/sector shown on a ticket.

CONTACT:

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


RESDALE PTY: Liquidator to Distribute Company Assets
----------------------------------------------------
At a General Meeting of Resdale Pty Limited duly convened and
held on July 15, 2005, the following Special Resolution was
passed:

(1) That the company be wound up as a Members' Voluntary
Liquidation, and that its assets may be distributed in whole or
in part to the members in specie, should the liquidator so
Desire; and

(2) That Paul Anton Tierney of Suite 4, 10-12 Chapel Street,
Blackburn, be appointed liquidator for such winding up.

Dated this 15th day of July 2005

Paul A. Tierney
Liquidator
Suite 4, 10-12 Chapel Street
Blackburn Vic 3130


RV TRITECH: Members Decide to Wind Up Operations
------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of RV Tritech Pty Limited held on July 14, 2005, it
was resolved that the Company be wound up voluntarily.

At a creditors' meeting held on the same day, it was resolved
that Richard Herbert Judson of Judson & Co. Chartered
Accountants, Level 1, 10 Park Road, Cheltenham be appointed
liquidator for such purpose.

Dated this 14th day of July 2005

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


SHADE & PLAY: Joint Liquidators Named
-------------------------------------
Notice is hereby given that at a meeting of creditors of Shade &
Play Australia Pty Limited held on July 15, 2005, it was
resolved that the Company be wound up, and John Ross Lindholm
and John Melluish of Ferrier Hodgson, Level 29, 600 Bourke
Street, Melbourne, Victoria and Level 17, 2 Market Street,
Sydney, New South Wales were appointed Joint Liquidators of the
Company.

Dated this 25th day of July 2005

J. R. Lindholm
John Melluish
Liquidator
Ferrier Hodgson
Level 29, 600 Bourke Street
Melbourne Vic 3000


SOUTH EASTERN: Begins Wind Up Proceedings
-----------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of South Eastern Windscreens Pty Limited held on July
15, 2005, it was resolved that the Company be wound up
voluntarily.

At a creditors' meeting held that same day, it was resolved that
William Bernard Abeyratne and Loke Ching Wong of Harrisons
Insolvency, Level 1, 49-51 Stead Street, South Melbourne be
appointed joint and several liquidators.

Dated this 18th day of July 2005

William B. Abeyratne
Loke Ching Wong
Joint Liquidators
c/o Harrisons Insolvency
Level 1, 49-51 Stead Street
South Melbourne Vic 3205
Phone: 9696 2885


STORAGE ADVISORY: Pays Dividend to Creditors
--------------------------------------------
Storage Advisory Services Pty Limited will declare a first and
final dividend on Aug. 30, 2005.

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

Dated this 2nd day of August 2005

R. J. Porter
Liquidator
Moore Stephens PMN
Level 6, 460 Church Street
Parramatta NSW 2150


TEAC AUSTRALIA: Developer Pursued over AU$6-Mln Loan
----------------------------------------------------
A prominent Melbourne businessman and property developer is
being pursued for more than AU$6 million in outstanding loans to
help cover the debts of failed electronics distributor Teac
Australia, The Australian reports.

Teac's administrators are seeking repayment of loans to Gavin
Muir, who ran and owned 50 percent of Teac Australia before its
parent and co-owner, Tokyo-based Teac Corporation, called in
administrators in March.

The administrators' claims include an allegation that Mr. Muir
used AU$40,000 worth of electronic goods to pay for a share in a
yacht. Mr. Muir's Bay Street Corp also reportedly owes
AU$3million to Teac from the May 2002 purchase of land in Port
Melbourne, where he planned to build high-class apartments. The
AU$120million project later collapsed.

The administrator, Sal Algeri of Deloitte, is also concerned
that the AU$14.5million price paid for the land by Bay Street
may have undervalued the property.

Mr. Algeri is investigating whether there are grounds for civil
charges alleging breaches of directors' duties. He said the
Australian Securities and Investments Commission (ASIC) was also
looking into matter.

The administrators claim poor management may have been
responsible for Teac's collapse in March under the weight of an
Au$80-million debt.

The administrator is also pursuing former finance director Ken
Evans for AU$195,000 in alleged loans that the administrator
claims he had attempted to offset against leave and bonuses. The
administrators yesterday proposed a deed of company arrangement
that will keep the company going, saving about 120 jobs.

Teac Corp will have to write off the AU$45million owed to it,
while assuming full control of the Australian distribution
business.

Unsecured creditors will also be left out of pocket under the
deal, receiving only 5c in the dollar on the Au$17 million owed
to them. The ANZ Bank, the only secured creditor, is expected to
receive the AU$19million owed to it.

Creditors will be asked to vote on the deal at a meeting in
Melbourne next week.

CONTACT:

TEAC Australia
Address: 280 William St
Melbourne Vic 3000
Phone: (03) 9672 2400
       (03) 9644 2442
Fax: (03) 9672 2499
E-mail: info@teac.com.au  
Web site: http://www.teac.com.au


WATERFALLS DEVELOPMENTS: Supreme Court Orders Winding Up
--------------------------------------------------------
On July 19, 2005, the Supreme Court of New South Wales, Equity
Division issued a winding up order against Waterfalls
Developments Pty Limited, and appointed Christopher J. Palmer to
be Liquidator for such winding up.

Dated this 2nd day of August 2005

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


WESTBUS: Hope Glimmers for Sinking Operations
---------------------------------------------
Westbus' services are now being reviewed after taxi docket
company Cabcharge, in partnership with a Singapore bus giant
ComfortDelGro agreed to buy the cash-strapped bus operator,
relates the Daily Telegraph.

The AU$106.7-million sale gives 1000 Westbus employees job
security and 100,000 daily commuters and schoolchildren a viable
bus service. All creditors and employees, meanwhile, will
receive 100 cents in the dollar.

However, Westbus founder Bob Bosnjak will lose his AU$30 million
stake under a deal brokered by administrator Peter Yates of
Deloitte. Mr. Bosnjak had instructed to dispute the sale.

Brother Jim Bosnjak, who is still at loggerheads with his
brother Bob, sold out for AU$30 million in 1999 but retained a
minority holding, which is now deemed worthless.

Westbus' U.K.-based majority-owner, National Express, will lose
more than AU$50 million following Westbus' slide into
administration in January with debts of AU$80 million.

Earlier, the Bosnjak brothers signified separate interest in
Westbus before Cabcharge won in partnership with Singapore's
ComfortDelGro.

The deal marks both Cabcharge's first foray into the bus
industry and ComfortDelGro's entry into Australia.

CONTACT:

Westbus Pty Ltd
Level 12, 100 George Street
Parramatta, NSW 2150
Web site: http://www.westbus.com.au


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

BANK OF COMMUNICATIONS: May Enter Insurance Business
----------------------------------------------------
Bank of Communications (BoCom) plans to enter the mainland's
insurance business through its insurance unit registered in Hong
Kong, China Daily reports.

China Communications Insurance Co Ltd. (CCIC) a property and
casualty insurer has entered talks with some mainland partners,
and may soon submit an application to the China Insurance
Regulatory Commission.

There may be five to six mainland partners, or even 10, the
report quoted an unnamed BoCom official as saying.

However, Shanghai-based BoCom declined to comment yesterday when
it released an interim report.

BoCom said in its interim report that it posted a pre-tax profit
of CNY6.88 billion (US$848 million) for the first half, a year-
on-year increase of 173.5 percent.

CONTACT:

Bank of Communications Company Limited
20 Pedder Street Central Hong Kong
Phone: 86-21-58781234
Web site: http://www.bankcomm.com


BILLION MORTGAGES: Court Issues Winding Up Order
------------------------------------------------
Billion Mortgages Company Limited whose place of business is
located at 3/F, Richmake Commercial Building, Bo 198-200 Queen's
Road Central, Hong Kong was issued a winding up order notice by
the High Court of the Hong Kong Special Administrative Region
Court of First Instance on August 10, 2005.

Date of Presentation of Petition: June 13, 2005

Dated this 19th day of August 2005

Lee Mei Yee May
Acting Official Receiver


CHINA CONSTRUCTION: Temasek to Invest $2.4 Bln in Bank
------------------------------------------------------
Temasek Holdings Pte may double its investment in China
Construction Bank to $2.4 billion as part of a plan to expand
overseas and reduce shareholdings in the city's slower-growing
economy, Bloomberg News reports.

Temasek offered to buy $1.4 billion of stock in China
Construction before an initial public offering in October. The
Chinese bank last month said Temasek would invest $1 billion in
the IPO itself.

The Singapore-based Temasek has yet to obtain regulatory
approval in China for the additional investment, the report
said.

CONTACT:

China Construction Bank
25 Finance St.
Beijing, 100032, China
Phone: +86-10-6759-7114
Fax: +86-10-6360-3194
Web site: http://www.ccb.cn/portal/cn/home/index.html


CHINA CONSTRUCTION: Credit Suisse Seeks $500-Mln Stake
------------------------------------------------------
Credit Suisse Group plans to buy $500 million of stock in China
Construction Bank Ltd.'s initial public offering as early as
October, Bloomberg reports.

Foreign banks are buying stakes in Chinese lenders to tap an
economy that's expanding at more than twice the pace of the
United States and where savings total $1.65 trillion.

China International Capital Corp., Construction Bank's
investment banking unit, and Morgan Stanley, which owns a stake
in China International, have been hired to arrange the IPO.


CHINA MERCHANTS: FY05 Net Loss HK$18 Mln
----------------------------------------
China Merchants Dichain (Asia) Limited incurred a net loss of
HK$18.421 million in the year ended March 31, versus a net
profit of HK$14.262 million a year earlier, Infocast News
reports.

Loss per share (LPS) was 0.36 cent. No final dividend was
declared.

The company is principally engaged in logistics services and
supply chain management services. These services encompass
bonded warehousing, international freight transportation agency
services, third party logistics and related services,
International Ocean forwarding.

CONTACT:

China Merchants Dischain (Asia)  Limited
Units 3611, 36/F, West Tower
Shun Tak Centre, 168-200 Connaught Road Central
Hong Kong  
Phone: 22550688  
Fax: 28513660  
Web site: http://www.dichainasia.com


DUNHUANG COMPANY: Placed Under Liquidation
------------------------------------------
Dunhuang (China) Company Limited (In Creditors' Voluntary
Liquidation) announced that the Annual General Meeting of the
members and creditors of the company was held at Venue 1 - Room
304, 29/F., Wing On Centre, 111 Connaught Road Central, Hong
Kong on August 24, 2005.

The AGM of the members and creditors of the Companies was held
for the purpose of having an account laid before them showing
the manner in which the winding-up of the Companies have been
conducted and the properties of the Companies disposed of, and
of hearing any explanation that may be given by the Liquidator.

Dated this 12th day of August 2005

KONG CHI HOW, JOHNSON
Liquidator


GAINFULL CORPORATION: Court Orders Business Closure
---------------------------------------------------
Gainfull Corporation Limited whose place of business is located
at G/F, 25-27 Parkes Street, Yaumatei, Kowloon was issued a
winding up order notice by the High Court of the Hong Kong
Special Administrative Region Court of First Instance on August
10, 2005.

Date of Presentation of Petition: June 13, 2005

Dated this 19th day of August 2005

Lee Mei Yee May
Acting Official Receiver


LEMAN SKI-JACKET: To Undergo Winding Up Process
-----------------------------------------------
Leman Ski-Jacket Manufacturer Limited whose place of business is
located at Room 2313, Chung Wa Court, Tin Chung Court, Tin Shui
Wai, 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 August 10, 2005.

Date of Presentation of Petition: June 10, 2005

Dated this 19th day of August 2005

Lee Mei Yee May
Acting Official Receiver


QPL INTERNATIONAL: Swings to FY05 HK$269 Mln Loss
-------------------------------------------------
QPL International Holdings (0243) reported a net loss of HK$269
million for the business year ended April 30, compared with a
net profit of HK$10 million a year earlier, according to
Infocast News.

Loss per share was HK$0.42. No final dividend was declared.

The Group is engaged in the manufacture of integrated circuit
lead frames, assembly of integrated circuits and testing
services, property investment, and manufacture of silicon
wafers.

CONTACT:

QPL Internationaln Holdings Limited
Unit F, 17/F CDW Building
388 Castle Peak Road
Tsuen Wan, New Territories
Hong Kong  
Phone: 24065111  
Web site: http://www.qpl.com


SHA TIN: To Undergo Liquidation Proceedings
-------------------------------------------
Sha Tin Treasure Restaurant Company Limited (In Creditors'
Voluntary Liquidation) announced that the Annual General Meeting
of the members and creditors of the company was held at Venue 1
- Room 304, 29/F., Wing On Centre, 111 Connaught Road Central,
Hong Kong on August 24, 2005.

The AGM of the members and creditors of the Companies was held
for the purpose of having an account laid before them showing
the manner in which the winding-up of the Companies have been
conducted and the properties of the Companies disposed of, and
of hearing any explanation that may be given by the Liquidator.

Dated this 12th day of August 2005

KONG CHI HOW, JOHNSON
Liquidator


STAR CRUISES: Books US$10.6 Mln Profit
--------------------------------------
Star Cruises Limited announced that the unaudited consolidated
results of the Company and its subsidiary companies for three
months and six months ended June 30, 2005, together with the
comparative figures for the previous periods are as follows:

Year end date: 31/12/2005
Currency: USD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors

                                                    (Unaudited )
                             (Unaudited )            Last
                              Current              Corresponding
                              Period               Period
                              from 01/01/2005    from 01/01/2004
                              to 30/06/2005       to 30/06/2004
                              Note  ('000)           ('000)

Turnover                           : 843,243         767,675           
Profit/(Loss) from Operations      : 53,447          35,499            
Finance cost                       : (66,314)        (44,989)          
Share of Profit/(Loss) of
  Associates                    3  : (1,951)         N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities   4  : (70)            N/A               
Profit/(Loss) after Tax & MI       : 10,603          (18,181)          
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : 0.0020          (0.0034)          
         -Diluted (in dollars)     : 0.0020           N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A              N/A               
Profit/(Loss) after ETD Items      : 10,603          (18,181)          
Interim Dividend                   : Nil              Nil
  per Share                                              
(Specify if with other             : N/A              N/A
  options)                                               
                                                         
B/C Dates for
  Interim Dividend                 : N/A   
Payable Date                       : N/A
B/C Dates for (-)            
  General Meeting                  : N/A   
Other Distribution for             : N/A
  Current Period                     
                                     
B/C Dates for Other
  Distribution                     : N/A   

Remarks:

Basis of presentation of results

The unaudited accounts of the Group 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) and
Appendix 16 of the Rules Governing the Listing of Securities on
the Stock Exchange of Hong Kong Limited (the Listing Rules). The
accounting policies and methods of computation used in the
preparation of these accounts are consistent with those used in
the annual accounts for the year ended December 31, 2004.

The 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 January 1, 2005. As at 1 January 2005, the
Group adopted these new HKFRSs, which are relevant to its
operations. The adoption of these new HKFRSs did not have any
significant impact on its results of operations and financial
position, except for the adoption of HKFRS 2, HKFRS 3, HKAS 38,
HKAS 17, HKAS 32 and HKAS 39. Please refer the results
announcement for more details.

For the six months ended 30 June 2005, the Group recorded its
share of loss of an associated company of US$1,951,000 from the
date of acquisition in mid-December 2004 to 31 March 2005,
resulting in a three-month lag going forward.

The US$70,000 share of loss of a jointly controlled entity is
included in other non-operating expenses in the unaudited
consolidated profit and loss account for the six months ended 30
June 2005.

CONTACT:

Star Cruises Limited
Suite 1501, Ocean Centre
5 Canton Road, Tsimshatsui
Kowloon, Hong Kong  
Phone: 23782000  
Fax: 23143809  
Web site: http://www.starcruises.com


TREASURE CONTINUATION: Falls Into Liquidation
---------------------------------------------
Treasure Continuation Company Limited (In Creditors' Voluntary
Liquidation) announced that the Annual General Meeting of the
members and creditors of the company was held at Venue 1 - Room
304, 29/F., Wing On Centre, 111 Connaught Road Central, Hong
Kong on August 24, 2005.

The AGM of the members and creditors of the Companies was to be
held for the purpose of having an account laid before them
showing the manner in which the winding-up of the Companies have
been conducted and the properties of the Companies disposed of,
and of hearing any explanation that may be given by the
Liquidator.

Dated this 12th day of August 2005

KONG CHI HOW, JOHNSON
Liquidator


YUE XIU: Winds Up Operations
----------------------------
Yue Xiu Metals & Minerals Company Limited whose place of
business is located at Unit D, 20th Floor, Tower 1, The Victoria
Towers, 188 Canton Road, Tsimshatsui, Kowloon was issued a
winding up order notice by the High Court of the Hong Kong
Special Administrative Region Court of First Instance on August
10, 2005.

Date of Presentation of Petition: June 13, 2005

Dated this 19th day of August 2005

Lee Mei Yee May
Acting Official Receiver


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

BANK DANAMON: Bourse Grants Listing of 25,500 Shares
----------------------------------------------------
Effective on August 24, 2005, PT Bank Danamon Indonesia Tbk.
(BDMN) is permitted to list its Shares from Option Conversion at
the amount of 25,500 Shares.

Therefore, total Shares of BDMN listed on Surabaya STock
Exchange will be 4,870,089,780 Shares.

CONTACT:

PT Bank Danamon Indonesia Terbuka
Jl Jend Sudirman Kav 45
Wisma Bank Danamon
Jakarta 12930
Indonesia
Phone: +62 1 577 0551
Fax: +62 1 577 0716
Web site: http://www.danamon.co.id/


PERTAMINA: To Replace Directors This Week
-----------------------------------------
Minister of State Enterprises Sugiharto said that the government
plans to replace the board of directors of state oil and gas
firm PT Pertamina as early as this week, reports Asia Pulse.

The government will announce a formal decison on the replacement
after a final assesment by a team led by the President completes
its final assessment on the Company.

"We expect the process to be finished in one or two weeks'
time," he said after attending a Regional Representatives
Council (DPD) plenary meeting to hear a speech by President
Susilo Bambang Yudhoyono on the government`s regional
development policy.

The selection team has already chosen current oil & gas director
at the Ministry of Energy & Mineral Resources Iin Arifin Takhyan
to replace Mr. Widya Purnama as the president director of
Pertamina. Mr. Takhyan won over two other candidates, Pertamina
chief commissioner Martiono Hadianto and head of state oil & gas
regulator BP Migas Tubagus Haryono.

Mr. Sugiharto said that they have chosen 20 people from within
and outside the Company to be Pertamina's new board of
directors, but declined to identify them.

CONTACT:

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


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

MITSUBISHI MOTORS: Gets `No Confidence" Vote in Survey
------------------------------------------------------
Thousands of fleet managers have given Mitsubishi Australia a
vote of no confidence as it prepares for the launching of its
long-awaited Magna replacement, the Mitsubishi 380, The
Australian reports.

The survey, which was conducted by the Australasian Fleet
Managers Association (AFMA), revealed that one in five fleet
managers expect to purchase fewer Mitsubishi vehicles over the
next two years and in a danger sign for other local makers,
nearly one in two will buy fewer locally made large cars.

Mitsubishi is the only brand that more managers thought would
lose share rather than gain it. While 38 percent of fleet
managers think Mitsubishi will have a reduced share of their
fleet in the next two years, only 21 percent expect an increase.

The survey results did not necessarily reflect badly on
Mitsubishi's sales prospects.

"The survey result was based on the Magna, which is an old car
and one that suffered from a marketing policy that sometimes
resorted to dumping," AFMA Executive Director Marja Thompson
said. "It didn't reflect the Mitsubishi 380, which our members
have not been fully exposed to yet."

CONTACT:

Australasian Fleet Managers Association
PO Box 7272, Melbourne Vic 3004
Australia  
Phone: +61 3 9866 6056
Fax: +61 3 9866 1304  
E-mail: info@afma.net.au


MITSUBISHI MOTORS: To Launch In-wheel Motor Electric Vehicle
------------------------------------------------------------
Mitsubishi Motors Corporation announced that it would enter a
Lancer Evolution MIEV1 test vehicle in the Shikoku EV Rally 2005
to be held August 27-28 in Tokushima Prefecture on the island of
Shikoku, Japan. Deriving from the Company's Lancer Evolution IX
high-performance 4WD sports sedan, Lancer Evolution MIEV uses a
lithium-ion battery system to power four newly developed in-
wheel motors. The Shikoku EV Challenge Committee and the Shikoku
EV Rally 2005 Executive Committee organize the Shikoku EV Rally
2005.

Mitsubishi Motors is driving forward the development of the
Mitsubishi In-wheel motor Electric Vehicle (MIEV) next-
generation electric vehicle and is planning to bring a MIEV
model, built around core technologies of in-wheel motors and
high density lithium-ion batteries, to market by 2010.

The Lancer Evolution MIEV will be the Company's second MIEV test
vehicle, following the Colt EV announced in May 2005. The new
in-wheel motor uses a hollow doughnut construction that locates
the rotor outside the stator as opposed to a common electric
motor where the rotor turns inside the stator. This construction
brings several benefits. It makes it easier to raise power
output and torque; higher torque allows the speed reducer unit
to be eliminated, which means less weight and improved power
transmission efficiency; and it offers better space efficiency
with the brake assembly fitting inside the motor which itself
fits neatly within the wheel house. The outer-rotor arrangement
also surmounts the difficulties presented to date by the
steering system, making it suitable for fitting to and driving
the front wheels that opened the way to 4WD in-wheel motor
vehicles.

Mitsubishi Motors has acquired vehicle type certification for
Lancer Evolution MIEV and will be conducting practicality
evaluations over a wide variety of conditions, the Shikoku EV
Rally and other public road driving included. The evaluation
programs will assist the Company in developing high-performance
electric, hybrid and fuel cell vehicles that deliver not only
superior environmental performance but also output performance
and maneuverability equal to or better than gasoline-fueled
vehicles.

Mitsubishi In-wheel motor Electric Vehicle

Lancer Evolution MIEV: overview

Mitsubishi Motors' MIEV concept comprises two core technologies:
lithium-ion batteries, which the Company has been developing for
practical application in automobiles; and the in-wheel motor
that, as its name implies, mounts inside the vehicle wheels.
Building upon the advantages offered by these technologies, the
MIEV concept is currently the main driving force behind the
Company's development of next-generation electric vehicles.
Mitsubishi Motors also envisages the application of the MIEV
concept in hybrid and fuel cell vehicles. The first MIEV test
vehicle built by Mitsubishi Motors for in-wheel drive system
development and testing purposes was the Colt EV, announced in
May 2005. Derived from the standard production Colt compact
model, Colt EV is driven by in-wheel motors mounted on the rear
wheels and powered by a lithium-ion battery system.

With the Lancer Evolution MIEV high-performance 4WD in-wheel
motor test vehicle, the Company has taken the next step forward.
After removing the engine, fuel tank, transmission,
differential, drive shaft and other 4WD components from the
production Lancer Evolution IX sports sedan, newly developed
outer-rotor in-wheel motors were mounted on all four wheels.
Fitted under the floor between the front and rear wheels in the
space vacated by the 4WD components, a lithium-ion battery
system powers the motors.

The new in-wheel motor was developed by incorporating Mitsubishi
Motors' vehicle installation technology to the motor
manufactured by Toyo Denki Seizo K.K. The motor produces a
maximum output of 50kW and its distinguishing feature is its
outer-rotor construction. In the conventional type of in-wheel
motor, as used on the Colt EV, the rotor turns inside the
stator. The outer-rotor in-wheel motor, however, uses a hollow
doughnut construction that locates the rotor outside the stator.
The major benefits of this arrangement are as follows:

The design makes raising power output and torque easier and
makes the speed reducer unnecessary, which reduces energy losses
and restrains the increase of unsprung weight.

Elimination of the speed reducer makes the motor easier to fit
into wheelhouse.

The doughnut construction creates space in center of the motor
for the brake assembly and other components.
The outer-rotor construction also allows the motor to be mounted
on the front wheels, something not possible until now because of
the presence of steering system components. This evolutionary
feature has opened the door to the realization of 4WD in-wheel
motor vehicles and widened the potential for EV's.

One of the Company's major objectives in developing Lancer
Evolution MIEV is to evaluate the outer-rotor type in-wheel
motor construction, key to 4WD in-wheel motor vehicles, under an
extensive range of driving conditions. To this end, Mitsubishi
Motors has acquired vehicle type certification for Lancer
Evolution MIEV to allow evaluation not only in the proving
ground but also under normal driving conditions on public roads.
These evaluations are designed to verify the reliability and
durability of the outer-rotor in-wheel motor when subject to
road surface inputs, to water inundation, and to exposure to
sand and dirt - the major challenges this type of motor must
overcome. The test program will also allow the Company to carry
out research and development aimed at raising performance and at
reducing weight and size.

Leveraging its trademark all-wheel control technology and know-
how, Mitsubishi Motors is also considering developing a system
that controls drive torque and braking force independently at
each wheel and is eying its use in Lancer Evolution MIEV. The
Company will aim for the realization of high-performance
electric, hybrid and fuel cell vehicles that deliver not only
superior environmental performance but also output performance
and maneuverability equal to or better than gasoline-fueled
vehicles.

Shikoku EV Rally 2005

Open to electric vehicles licensed for use on public roads, the
Shikoku EV Rally has been staged by scientists at universities
in Shikoku every year since 1998 with the purpose of promoting
the use of EV's. This year marks the eighth time the Rally has
been held.

Mitsubishi Motors has entered models such as the FTO-EV and
Eclipse EV test cars in the Rally from the first Rally through
2003. The Company will be entering the recently completed Lancer
Evolution MIEV in this year's Rally to test its driving and
battery charging performance under normal driving conditions on
public roads and to promote the MIEV next-generation EV concept
among the general public.

CONTACT:

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

This is a company press release.


MITSUBISHI MOTORS: High Fuel Prices Speed Up Electric Car Plans
---------------------------------------------------------------
Mitsubishi Motors Corporation, in a press release, announced
that work on electric car research and development is being
accelerated following the rapid rise in fuel costs. Mitsubishi
Motors Corporation and Tokyo Electric Power Co. are to jointly
develop a next-generation electric car for release in Japan as
early as 2008.

It is commonly accepted that cars and phones don't mix, but
advances in mobile phone and laptop computer technology are
about to generate revolutionary changes in the electric vehicle
market.

Lithium-ion battery technology, commonly used for powering
portable electronic devices, offers superior specific energy,
power, and life over other types of rechargeable batteries and
is expected to contribute to higher top speeds, extended
cruising ranges and greater weight reductions in hybrid and fuel
cell vehicles.

With the world facing huge increases in fuel prices, development
and testing of the MIEV (Mitsubishi In-wheel motor Electric
Vehicle) concept has been stepped up. A Colt EV driven by in-
wheel motors powered by lithium-ion batteries is serving as the
rolling test bed. The MIEV is expected to surpass previous
concept cars' battery efficiency with a cruising range of 250-
kilometres after a four-hour recharge.

The MIEV's in-wheel motors makes it possible to regulate drive
torque and braking force independently at each wheel without the
need for any transmission, drive shaft or other complex
mechanical components that both add weight and absorb energy.

The MIEV (at under $US 18,000) promises to be a welcome relief
for motorists and is expected to arrive up to two years earlier
than Japanese rival Subaru's electric minicar.


SEIBU RAILWAY: To Reorganize Prince Hotels
------------------------------------------
Seibu Railway Co. plans to reorganize the Prince Hotel chain by
dividing the hotels into four categories according to room
charges and usages, The Yomiuri Shimbun relates, citing Seibu
President Takashi Goto.

Mr. Goto said they would consider affiliating with foreign-
financed hotels. The hotel chain will also introduce various
services to respond to customers' diversifying needs.

The Seibu Railway group is expected to set up a holding company
by the end of March that will control the Seibu Railway-centered
company that runs its railway service and other businesses along
rail lines and another integrating Kokudo Corporation and Prince
Hotel Inc., which will manage the group's hotel and leisure
businesses.

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


SOFTBANK CORPORATION: Details Restructuring Scheme
--------------------------------------------------
Softbank Corporation announced that it is obliged to book
certain losses arising out as extraordinary losses incurred by
wholly-owned subsidiary, Japan Telecom Co. Ltd. (Head office:
Minato-ku, Tokyo; President and CEO :Hideki Kurashige,
hereinafter 'Japan Telecom'), as a result of restructuring of
sales formations concerning the direct connection voice service
(hereinafter 'Otoku Line').

1. Background

So far Japan Telecom has been promoting sales of 'Otoku Line'
mainly through its sales agency network. Sales of 'Otoku Line',
which was launched in December 2004, have not been progressing
as smoothly as originally planned and the number of new
contracts for the 'Otoku Line' are still under-running the
originally expected level.

Under such circumstances, the company and Japan Telecom have
jointly conducted a thorough review of 'Otoku Line' sales
formation, which has culminated in the recognition of
extraordinary losses.

2. Effect on the Consolidated Financial Statement

During the 2nd quarter of the March 2006 Fiscal Year, the
company will book an amount of approximately 7 billion yen as
being the extraordinary losses.

CONTACT:

Softbank Corporation
24-1, Nihonbashi-Hakozakicho,
Chuo-ku, Tokyo 103-8501, JAPAN
Phone: 81-3-5642-8000
Web site: http://www.softbank.co.jp/english/index.html

This is a company press release.


SOFTBANK CORPORATION: Forges Capital Alliance With Invoice
----------------------------------------------------------
Softbank Corporation announced that it has reached a basic
agreement with Invoice Inc. (Head office: Minato-ku, Tokyo;
President and CEO :Ikuo Kimura, hereinafter 'Invoice') to enter
into a basic consensus on the Business and Capital Alliance
Agreement under the following terms and conditions:

1. Objective of the Business and Capital Alliance with Invoice

Invoice is successful in the telecommunication business, having
good relationship with corporate customers and strong sales
forces, principally in the field of integrated communication
services for corporate users. The main objective of the alliance
is to achieve a rapid growth in terms of customer base, sales
and profitability in our fixed-line telecommunication business,
by making full use of Invoicefs sales and marketing networks.

2. Outline of the Business Alliance with Invoice

Japan Telecom Co. Ltd., wholly-owned subsidiary of the company
(Head office: Minato-ku, Tokyo; President and CEO :Hideki
Kurashige, hereinafter 'Japan Telecom') and Invoice will
establish a joint venture company to be called 'JAPAN TELECOM
INVOICE Co., Ltd.' This joint venture enhances sales promotion
of 'Otoku Line' along with its billing and settlement services.

Outline of the joint venture company

Corporate Name: JAPAN TELECOM INVOICE CO., LTD.
Head Office: 1-9-1, Higashi-Shimbashi, Minato-ku, Tokyo
Representative: Ikuo Kimura
Capital: 10 billion yen
Controlling shares: Japan Telecom: 14.9%
                    Invoice: 85.1%

(Amount of capital contribution by Japan Telecom: 1,490 million
yen)

3. Outline of the Capital Alliance with Invoice

For the purpose of making our current collaborative business
relationship even closer, the company will make a new capital
investment in Invoice.

Method of capital investment: allocation of new shares to the
company.

Type of new shares: Ordinary Shares, 450,857 shares

Issuing Price: 11,090 yen, being the average closing price of
Tokyo Stock Exchange 1st Division during the period from May 11,
2005 to August 9, 2005 (with any fraction of less than 10 yen
being rounded up), or, the closing stock price as on the date of
execution of the Agreement (August 9, 2005), whichever is lower.

Amount of Capital Investment: About 5 billion yen
Controlling share: about 5 %
Due date of payment: August 31, 2005

This is a company press release.


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

HANARO TELECOM: Losses Prompts Firm to Reduce Cost
--------------------------------------------------
Hanaro Telecom Inc. mulls launching an intensive cost reduction
program this year, Maeil reveals.

Hanaro decided to launch the program as it suffered losses in
the second quarter.  

The company is planning to cut its budget for the management
support department by half, while money reserved for operation
and marketing use will be retained.

Officials of Hanaro said, "We are set to reduce unnecessary
expenditure as annual net loss is expected to reach KRW100
billion this year."

Hanaro Telecom is threatened by Powercomm, which started to
provide Internet access services at a lower fee.  

CONTACT:

Hanaro Telecom, Inc. (NASDAQ: HANA)
Shindongah Fire & Marine Insurance Bldg. 43,
Taepyeongno2-Ga, Jung-Gu
Seoul, 100-733, South Korea
Phone: +82-106
Fax: +82-2-6266-4399
Website: http://www.hanaro.com


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

ANCOM BERHAD: Buys Back 161,000 Ordinary Shares
-----------------------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:
   
Date of buy back: August 23, 2005

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

Total number of shares purchased (units): 161,000

Minimum price paid for each share purchased (MYR): 0.655

Maximum price paid for each share purchased (MYR): 0.670

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 161,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 13,042,000

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

CONTACT:

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


ASIAN PAC: Redeems RCSLS Nominal Value
--------------------------------------
Asian Pac Holdings Berhad (Asianpac) issued to Bursa Malaysia
Securities Berhad details on the proposed extension of the
duration and conversion period of Asianpac's existing 5-year 4
percent Redeemable Convertible Secured Loan Stocks 2000/2005
(RCSLS 2000/2005) by two (2) years from December 22, 2005 up to
and including December 21, 2007 (RCSLS 2000/2005 Extension).

Hwang-DBS Securities Bhd (Hwang-DBS) had on March 2, 2005
announced that Asianpac wants to undertake the RCSLS 2000/2005
Extension.

The RCSLS 2000/2005 Extension has since been approved by the
Securities Commission (SC) vide its letter dated June 24, 2005
and the RCSLS 2000/2005 holders in a meeting held on May 11,
2005.

Hwang-DBS now disclosed that Asianpac and the trustee for the
RCSLS 2000/2005, Universal Trustee (Malaysia) Berhad have on
August 23, 2005 entered into a supplemental trust deed for the
RCSLS 2000/2005. The salient terms of the supplemental trust
deed are as follows:

(i) That the maturity date for the RCSLS 2000/2005 is extended
from December 22, 2005 to December 21, 2007 (Maturity Date) and
thereafter, the term RCSLS 2000/2005 shall be deemed as deleted
and replaced with the term RCSLS 2000/2007;

(ii) That by the date of the supplemental agreement, the Company
has already redeemed MYR39,089,786 nominal value of the RCSLS
2000/2007, and unless the RCSLS 2000/2007 holders have exercised
their conversion right at any time during the conversion period
and in the absence of an event of default, the Company may,
subject to the balance in the sinking fund account for the RCSLS
2000/2007, at its option further redeem the RCSLS 2000/2007 at
any time during the extended period before the Maturity Date
upon the terms set out below:

Click to view a full copy of the terms
http://bankrupt.com/misc/AsianPacHoldingsBerhad082405.pdf

Other than the above changes, all conditions, provisions and
terms of the principal trust deed dated December 19, 2000 shall
remain in full force and effect; and

(iii) Notwithstanding the above time schedule, the Company shall
be entitled to utilize whatever monies in the sinking fund
account to redeem the RCSLS 2000/2007 at any time during the
extended period falling on or before the Maturity Date.

This announcement is dated 23 August 2005.

CONTACT:

Asian Pac Holdings Berhad   
11th Floor, Menara SMI, No.6,
Lorong P. Ramlee, Kuala Lumpur
Wilayah Persekutuan 50250
Malaysia
Telephone: 03-20705152   
Fax: 03-20705195


EMICO HOLDINGS: Updates Winding Up Petition Served on Unit
----------------------------------------------------------
Emico Holdings Berhad (Emico) issued to Bursa Malaysia
Securities Berhad advertisement of Winding-up Petition against
Emico Marketing Sdn Bhd, a 100 percent subsidiary of Emico.

The company refers to the Exchange's query in the letter dated
August 22, 2005 and furnished herewith the following information
for public release:

(1) The date of the presentation of the winding-up petition is
July 5, 2005 and the date the winding-up petition was served is
July 26, 2005.

(2) The petitioner claiming for an amount of MYR436,000.00.

(3) On February 7, 2002, a Consent judgment was reached between
Emico Marketing and the petitioner in which Emico Marketing will
transfer or cause to transfer 2 units of shoplots valued at
MYR218,000 each to be built within 3 years.

However, petitioner did not come forward to sign the sale and
purchaser agreement despite our request and upon expiry of the 3
years period are claiming lump sum payment of MYR436,000.

(4) The total cost of investment in Emico Marketing by Emico is
MYR1,231,500. This investment cost was fully provided for in the
accounts of Emico as at December 31, 2004.

(5) The winding-up proceedings if succeeded will not have
significant impact on Emico Group as Emico Marketing's turnover
and profit before tax contributed about 7 percent and 0.1
percent respectively to the Group results as at December 31,
2004.

(6) The expected losses (about MYR436,000), if any, arising from
the winding-up proceeding will not be significant to Emico
Group.

(7) Emico Marketing have instructed their lawyers to file
Affidavit Opposing the Petition and also a Notice of Motion to
strike out the said Winding-up Petition stating amongst others,
reason of non compliance of strict winding-up rules. The
winding-up petition is fixed for hearing on September 2, 2005,

CONTACT:

Emico Holdings Berhad
18, Lebuhraya Kampung Jawa,
Non-Ftz, Bayan Lepas,
11900 Penang
Telephone Number: 604 - 644 3843  
Fax Number: 604 - 643 8563 / 643 8360  
E-Mail: Enquiry@Emico.Com.My
Web Site: http://www.emico.com.my


FOUNTAIN VIEW: Issues New Shares for Listing
--------------------------------------------
Fountain View Development Berhad advised that its additional
4,720,000 new ordinary shares of MYR1.00 each issued pursuant to
the conversion of 4,720,000 Irredeemable Convertible Unsecured
Loan Stocks 2003/2006 into 4,720,000 new ordinary shares will be
granted listing and quotation by Bursa Malaysia Securities
Berhad with effect from 9:00 a.m., Thursday, August 25, 2005.


HABIB CORPORATION: To Issue, Allot Shares
-----------------------------------------
Habib Corporation Berhad issued to Bursa Malaysia Securities
Berhad details of the following proposals:

(I) Proposed employees' share option scheme (ESOS) for eligible
employees and directors of the company and its subsidiaries
(proposed ESOS);

(II) Proposed increase in the authorized share capital of the
company from MYR802,000,000 comprising 800,000,000 ordinary
shares of MYR1.00 EACH (Habib Shares) and 200,000,000 Redeemable
Convertible Cumulative preference shares of MYR0.01 each (Habib
RCCPS) in the company to MYR1,000,000,000 comprising 998,000,000
Habib shares and 200,000,000 Habib RCCPS (proposed authorized
share capital increase);

(III) Proposed change of name of the company (Proposed name
change); and

(IV) Proposed amendments to the Memorandum and Articles of
Association (M&A) of the company (Proposed Amendments).

(collectively known as the proposals)

(1) Introduction

Commerce International Merchant Bankers Berhad (CIMB), on behalf
of our Board of Directors, advised that the company proposes to
undertake the following proposals:

(a) Proposed establishment of an ESOS for eligible employees and
Directors of the Company and its subsidiaries (Group) (Eligible
Persons) to subscribe up to fifteen percent (15 percent) of the
issued and paid-up share capital of the Company;

(b) Proposed increase in our authorized share capital of
MYR802,000,000 comprising 800,000,000 Habib Shares and
200,000,000 Habib RCCPS to MYR1,000,000,000 comprising
998,000,000 Habib Shares and 200,000,000 Habib RCCPS;

(c) Proposed change of name of the Company from Habib
Corporation Berhad to Scomi Marine Bhd; and

(d) Proposed amendments to our M&A to accommodate for the
Proposed ESOS and Proposed Authorized Share Capital Increase.

(2) Details of the Proposals

(2.1) Proposed ESOS

The Proposed ESOS will involve granting to Eligible Persons,
option(s) to subscribe for new Habib Share(s) at a specified
price to be determined later (Option(s)).

The number of new Habib Shares that may be offered and allotted
to any of the Eligible Persons of the Group who are entitled to
participate in the Proposed ESOS shall be at the discretion of
the option committee (to be established) (Options Committee)
after taking into consideration, inter-alia, the performance,
ranking and length of services of the Eligible Persons in the
Group.

The salient features of the Proposed ESOS are as follows:

(a) Maximum number of new Habib Shares which may be made
available under the Proposed ESOS

The maximum number of new Habib Shares to be made available
under the Proposed ESOS shall not exceed fifteen percent (15
percent) of the issued and paid-up share capital of the Company
at any point of time during the existence of the Proposed ESOS.

Not more than fifty percent (50 percent) of the Habib Shares
available under the Proposed ESOS will be allocated, in
aggregate, to Directors and senior management. In addition, not
more than ten percent (10 percent) of the Habib Shares available
under the Proposed ESOS will be allocated to any individual
Eligible Person who, either singly or collectively through
persons connected with the eligible person, holds twenty percent
(20 percent) or more of the issued and paid-up ordinary share
capital of Habib.

(b) Eligibility

Persons eligible to participate in the ESOS shall comprise:

(i) Any Non-executive Director nominated by the Options
Committee at its absolute discretion; and

(ii) Any employee (including any Executive Director) of the
Group who:

(a) Has attained the age of eighteen (18) years;

(b) Is employed by and on the payroll of the relevant company
within the Group; and

(c) Has been confirmed in the employment of the Group prior to
and up to the Offer Date.

Provided always that the Options Committee may, at its
discretion, nominate any employee (including any Executive
Director) of our Group to be an Eligible Employee despite the
eligibility criteria under section 2.1(b)(ii)(c) not being met,
at any time and from time to time.

"Offer Date" is defined as the date on which an offer is made to
an Eligible Person to participate in the Proposed ESOS.

(c) Duration of the Proposed ESOS

The Proposed ESOS, when implemented, shall be in force for a
period of ten (10) years from the date of implementation. The
effective date for the implementation of the Proposed ESOS shall
be the date of full compliance with all the relevant
requirements of the listing requirements of Bursa Malaysia
Securities Berhad (Bursa Securities) (Listing Requirements).

(d) Ranking of new Habib Shares

The new Habib Shares allotted upon the exercise of an option
granted under the Proposed ESOS shall, upon issue and allotment,
rank pari passu in all respects with the existing issued Habib
Shares except that the new Habib Shares will not be entitled to
any dividends, rights, allotment and/or other distributions, the
entitlement date (namely the date as at the close of business on
which shareholders must be registered in order to be entitled to
any dividends, rights, allotments and/or other distributions) of
which is prior to the date of allotment of the new Habib Shares.

(e) Subscription price

The subscription price of the option for each Habib Share will
be fixed upon the respective date of granting of the option and
shall be the higher of the following:

(a) The weighted average market price of Habib Shares as quoted
on Bursa Securities for the five (5) consecutive market days
immediately preceding the date the Option is granted with a
discount of not more than ten percent (10 percent) (or such
other pricing mechanism as may be permitted by Bursa Securities
or such other relevant regulatory authorities from time to time)
as may be determined by the Options Committee at its absolute
discretion; or

(b) The par value of Habib Shares.

(2.2) Proposed Authorized Share Capital Increase

To accommodate the increase in the issued and paid up share
capital pursuant to the exercise of Options granted under the
Proposed ESOS, we propose to increase our authorized share
capital from the existing MYR802,000,000 comprising 800,000,000
Habib Shares and 200,000,000 Habib RCCPS to MYR1,000,000,000
comprising 998,000,000 Habib Shares and 200,000,000 Habib RCCPS.

(2.3) Proposed Name Change

The company proposes to change its existing name to Scomi Marine
Bhd to be in line with our new venture into marine logistics and
offshore support businesses.

The Company has on August 23, 2005 obtained the approval from
the Companies Commission of Malaysia for the use of the proposed
name.

(2.4) Proposed Amendments

The company proposes to amend the M&A of the Company to
facilitate the following:

(a) The participation of our Non-executive Directors in the
Proposed ESOS; and

(b) The increase in the authorized share capital of our Company.

(3) Rationale of the Proposals

(3.1) Proposed ESOS

The rationale for the Proposed ESOS is as follows:

(a) To give our employees and Directors a greater sense of
ownership and belonging towards our Group, thus increasing their
level of dedication, loyalty, motivation and productivity;

(b) To attract, reward and retain our employees and Directors
whose services are vital to the operations and continued growth
of our Group and thus, ensuring the loss of key personnel is
kept to a minimum; and

(c) To enable our employees to participate in the future growth
of our Group and upon becoming shareholders, to participate in
our Group's profits and development.

(3.2) Proposed Authorized Share Capital Increase

The increase in our authorized share capital is to facilitate
the increase in the issued and paid-up share capital of our
Company upon the exercise of the Options under the Proposed
ESOS.

(3.3) Proposed Name Change

The Proposed Name Change is to reflect our new corporate
identity and to be in line with our venture into marine
logistics and offshore support services.

(3.4) Proposed Amendments

The amendments to our M&A is to facilitate the Proposed ESOS and
Proposed Authorized Share Capital Increase.

(4) Effects of the Proposals

The Proposed Authorized Share Capital Increase, the Proposed
Name Change and the Proposed Amendments will not have any
financial effect on our Company.

The effects of the Proposed ESOS are as follows:

(a) Share Capital

The Proposed ESOS will not have an immediate effect on the
issued and paid-up share capital of our Company. However, our
issued and paid-up share capital will increase progressively
depending on the number of Options exercised and the number of
new Habib Shares issued thereof.

Notwithstanding the above, the proforma effects of the Proposed
ESOS on the issued and paid-up share capital of our Company
(assuming full exercise of options granted under the Proposed
ESOS) are set out in Table 1.

(b) Net Tangible Assets (NTA)

The Proposed ESOS will not have an immediate effect on the NTA
of the Group. However, the NTA per share, immediately upon the
exercise of the Options, will increase if the exercise price
exceeds the NTA per share at the point of exercise of the
Options and conversely will decrease if the exercise price is
below the NTA per share at the point of exercise of the Options.

(c) Earnings

The Proposed ESOS is not expected to have any material effect on
the earnings per share of our Company for the financial year
ending 31 December 2005. Any effect on the earnings per share of
our Company in the future would depend on, amongst others, the
number of options granted and exercised.

(d) Substantial Shareholders

The proforma effects of the Proposed ESOS on the shareholdings
of our substantial shareholders are set out in Table 2.

(e) Dividends

For the financial year ended December 31, 2004, our shareholders
approved a final dividend of 2.5 percent which will be paid on
September 16, 2005. The Proposed ESOS will not have any effect
on the dividend to be declared by us (if any) in the future.

There may be appointments of new Directors on the Board
following our proposed acquisitions and fund raising proposal
(please refer to our prior announcements and our circular to
shareholders dated June 30, 2005 for further details). The
quantum of dividends to be declared for the financial year
ending December 31, 2005 will be decided by our new Board of
Directors.

(5) Approvals Required for the Proposals

The Proposals are subject to approvals being obtained from the
following:

(a) Our shareholders in an Extraordinary General Meeting (EGM),
for the Proposed ESOS, the Proposed Authorized Share Capital
Increase, the Proposed Name Change and the Proposed Amendments;

(b) Bursa Securities, for the Proposed ESOS and the listing of
and quotation for such number of new Habib Shares arising from
any exercise of the options to be granted under the Proposed
ESOS on the Main Board of the Bursa Securities; and

(c) Any other relevant authorities (if required).

(6) Directors' and Substantial Shareholders' Interests

Save as disclosed below, none of our Directors and/or
substantial shareholders and persons connected with them has any
interest, direct or indirect, in the Proposals:

(i) All of our Directors (Non-executive Directors will be
eligible to participate in the Proposed ESOS upon adoption of
the Proposed Amendments) are eligible to participate in the
Proposed ESOS and are therefore deemed interested in the
Proposed ESOS. Accordingly, our Directors have declared their
interests with respect to the Proposed ESOS and have deliberated
and resolved to present the Proposed ESOS to our shareholders
for their consideration and approval.

Our Directors have abstained and will continue to abstain from
all Board deliberations in relation to the Proposed ESOS. In
addition, our Directors shall abstain from voting and ensure
that any persons connected to them abstain from voting in
respect of their direct and indirect shareholdings in our
Company (where applicable) on the resolution pertaining to the
Proposed ESOS at the EGM to be convened; and

(ii) The Non-executive Directors are deemed interested in the
Proposed Amendments (in so far as it relates to the Proposed
ESOS). Accordingly, the Non-executive Directors have abstained
and will continue to abstain from all Board deliberations in
relation to the Proposed Amendments and will abstain from voting
and ensure that persons connected with them abstain from voting
in respect of their direct and indirect interest in our Company
(where applicable) on the resolution pertaining to the Proposed
Amendments at the EGM to be convened.

(7) Statements by Directors

Our Board of Directors, after careful deliberation on all
aspects of the Proposed Authorized Share Capital Increase and
Proposed Name Change, is of the opinion that the Proposed Name
Change and Proposed Authorized Share Capital Increase are in the
best interest of our Company.

Our Board of Directors is deemed interested in the Proposed ESOS
and therefore has abstained from expressing an opinion and
making any recommendation to shareholders on the matter.

Our Board of Directors, save for the Non-executive Directors who
are deemed interested in the Proposed Amendments (in so far as
it relates to the Proposed ESOS), is of the opinion that the
Proposed Amendments is in the best interest of our Company.

(8) Adviser

CIMB has been appointed as our Adviser for the Proposed ESOS.

To view a copy of the Table 1, click
http://bankrupt.com/misc/HabibCorpBerhad082405.doc

This announcement is dated 23 August 2005.

CONTACT:

Habib Corporation Berhad
1st Floor, Bangunan Habib Corporation,
Lot 106, Lorong Mamanda 2, Ampang Point,
68000 Ampang, Selangor
Malaysia
Telephone: (60) 3 452 7777
Fax: (60) 3 452 2143


HABIB CORPORATION: Unveils Rights Issue Results
-----------------------------------------------
Habib Corporation Berhad issued to Bursa Malaysia Securities
Berhad details of the renounceable rights issue of 74,000,000
ordinary shares of MYR1.00 each in the company at an issue price
of MYR1.15 each on the basis of one (1) new share for each Habib
Share held as at 5:00 p.m. on AUGUST 22, 2005 (Rights Issue)  

Dispatch Date: August 28, 2005
    
Last date
and time for:               Date                 Time

Sale of provisional
allotment of rights:    September 9, 2005     5:00:00 p.m.

Transfer of provisional
allotment of rights:    September 14, 2005    5:00:00 p.m.

Acceptance and
payment:                September 22, 2005    5:00:00 p.m.

Excess share
application
and payment:            September 22, 2005    5:00:00 p.m.

Commencement Date: January 9, 2005

Cessation Date: September 12, 2005
    
This announcement is dated 23 August 2005.


HAP SENG: Repurchases New Shares
--------------------------------
Hap Seng Consolidated Berhad furnished Bursa Malaysia Securities
Berhad details of its shares buy back on August 23, 2005.

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

Total number of shares purchased (units): 5,000

Minimum price paid for each share purchased (MYR): 2.190

Maximum price paid for each share purchased (MYR): 2.200

Total consideration paid (MYR): 11,061.28

Number of shares purchased retained in treasury (units): 5,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 33,071,800

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

CONTACT:

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


LION CORPORATION: To Seek Approval on Proposed Mandate at AGM
-------------------------------------------------------------
Lion Corp. Berhad issued to Bursa Malaysia Securities Berhad
details of the proposed renewal of shareholders' mandate and
proposed new general mandate for Recurrent Related Party
Transactions of a revenue or trading nature (Proposed
Shareholders' Mandate).

The Board of Directors of Lion Corporation Berhad advised that
the Company intends to seek the approval of its shareholders for
the Proposed Shareholders' Mandate for recurrent related party
transactions of a revenue or trading nature at the forthcoming
Thirty-Second Annual General Meeting to be convened.

A circular containing the information on the above will be
issued to the shareholders in due course.

CONTACT:

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


LION INDUSTRIES: Net Loss Slides to MYR12,704,000
-------------------------------------------------
Lion Industries Corporation Berhad submitted to Bursa Malaysia
Securities Berhad its unaudited fourth quarter report for the
financial period ended June 30, 2005.  

Summary of Key Financial Information
June 30, 2005

          Individual Period              Cumulative Period
    Current Year  Preceding Year  Current Year   Preceeding Year
    Quarter       Corresponding   to date        Corresponding
                  Quarter                        Period  
    30/06/2005   30/06/2004       30/06/2005     30/06/2004
    MYR'000      MYR'000          MYR'000        MYR'000

(1) Revenue  

    951,330      1,076,695        3,965,021      3,637,868

(2) Profit/(loss) before tax  

    -15,548      110,875          418,384        573,777

(3) Profit/(loss) after tax and minority interest

    -12,704      65,645           329,828        336,224

(4)  Net profit/(loss) for the period

     -12,704     65,645           329,828        336,224

(5)  Basic earnings/(loss) per shares (sen)  

     -1.82       9.66             47.96          49.50

(6) Dividend per share (sen)  

    1.00         1.00             1.00            1.00

      As at End of                As at Preceding
    Current Quarter End          Financial year end

(7) Net tangible assets per share (RM)  

    2.8600                       2.4800

Click to view a full copy of the financial results
http://bankrupt.com/misc/LionIndustriesBerhad082405.xls


LION INDUSTRIES: Director Gains Right to Subscribe in New Shares
----------------------------------------------------------------
Lion Industries Corp. Berhad informed Bursa Malaysia Securities
Berhad that at the Extraordinary General Meeting of the company
held on August 23, 2005, the shareholders of the Company have
approved the following ordinary resolutions:

Ordinary Resolution 1- Proposed Executive Share Option Scheme

That contingent upon the passing of Ordinary Resolution 5 below
and subject to the approval-in-principle of Bursa Malaysia
Securities Berhad for the listing of and quotation for the new
ordinary shares to be issued hereunder and the approvals of any
other relevant authorities (if required), the Directors be and
are hereby authorized:

(a) To establish and administer for the benefit of eligible
executives including Executive Directors of the Company and its
subsidiaries which are not dormant (Eligible Executives), an
executive share option scheme to be identified as the "Lion
Industries Corporation Berhad Executive Share Option Scheme"
(ESOS) under which offers of options shall be granted in
accordance with the provisions of the ESOS Bylaws (as contained
in Appendix I of the Circular dated August 5, 2005) (Bylaws) for
the subscription of new ordinary shares of MYR1.00 each (Shares)
in the capital of the Company and to give effect to the ESOS
with full power to assent to any conditions, variations,
modifications and/or amendments as may be required or approved
by the relevant authorities;

(b) To allot and issue from time to time during the duration of
the ESOS such number of new Shares to Eligible Executives up to
fifteen per centum (15 percent) of the issued and paid-up share
capital of the Company at any one time as may be required to be
issued pursuant to the exercise of the options and that such new
Shares shall, upon allotment and issue, rank pari passu in all
respects with the existing Shares in the Company in accordance
with the provisions of the Bylaws except that the new Shares
will not be entitled to any dividends, rights, allotments and/or
any other distributions, the entitlement date of which is prior
to the date on which the new Shares are credited into the
grantee's individual/nominee securities account maintained with
Bursa Malaysia Depository Sdn Bhd; and

(c) To modify and/or amend the terms and conditions of the ESOS
from time to time and/or extend the duration of the ESOS,
provided that such modifications, amendments and/or extensions
are effected in accordance with the provisions of the Bylaws,
and to do all such acts, enter into all such transactions,
arrangements, agreements or undertakings, make such rules or
regulations, impose such terms and conditions, or delegate such
part of their powers as may be necessary or expedient in order
to give full effect to the ESOS.

Ordinary Resolution 2- Proposed grant of options to Datuk Cheng
Yong Kim

That contingent upon the passing of Ordinary Resolutions 1 and
5, authority be and is hereby given to the Company specifically
to offer and grant to Datuk Cheng Yong Kim, the Managing
Director of the Company, options to subscribe for up to 700,000
new Shares in the capital of the Company, subject always to such
terms and conditions and/or any adjustment which may be made in
accordance with the provisions of the Bylaws.

Ordinary Resolution 3- Proposed grant of options to Dato'
Kamaruddin @ Abas Bin Nordin

That contingent upon the passing of Ordinary Resolutions 1 and
5, authority be and is hereby given to the Company specifically
to offer and grant to Dato' Kamaruddin @ Abas bin Nordin, an
Executive Director of a subsidiary of the Company, options to
subscribe for up to 250,000 new Shares in the capital of the
Company, subject always to such terms and conditions and/or any
adjustment which may be made in accordance with the provisions
of the Bylaws.

Ordinary Resolution 4- Proposed grant of options to Wong Yi-Lin

That contingent upon the passing of Ordinary Resolutions 1 and
5, authority be and is hereby given to the Company specifically
to offer and grant to Wong Yi-Lin, an executive employee of a
subsidiary of the Company and a person connected to Tan Sri
William H.J. Cheng, a substantial shareholder of the Company,
options to subscribe for up to 100,000 new Shares in the capital
of the Company, subject always to such terms and conditions
and/or any adjustment which may be made in accordance with the
provisions of the Bylaws.

Ordinary Resolution 5- Proposed increase in authorized share
capital

That contingent upon the passing of Ordinary Resolution 1 above,
the authorized share capital of the Company be increased from
MYR750,000,000 comprising 750,000,000 ordinary shares of MYR1.00
each (Shares) to MYR1,000,000,000 comprising 1,000,000,000
Shares by the creation of an additional 250,000,000 new Shares
in the Company and the Directors be and are hereby authorized to
give full effect to the aforesaid increase in the authorized
share capital of the Company.


LION INDUSTRIES: Seeks Shareholders' OK to Renew Mandate
--------------------------------------------------------
Lion Industries Corporation Berhad details to Bursa Malaysia
Securities Berhad the proposed renewal of shareholders' mandate
for Recurrent Related Party Transactions of a revenue or trading
nature.

The Board of Directors of Lion Industries Corporation Berhad
advised that the Company intends to seek the approval of its
shareholders for the proposed renewal of the shareholders'
mandate for recurrent related party transactions of a revenue or
trading nature at the forthcoming Seventy-Fifth Annual General
Meeting to be convened.

A circular containing the information on the above will be
issued to the shareholders in due course.


MANGIUM INDUSTRIES: Unit Fails to Pay Dues
------------------------------------------
Mangium Industries Berhad (MIB) advised Bursa Malaysia
Securities Berhad that its wholly owned subsidiary, Mangium
Sawmill Sdn Bhd (MSSB) has not paid, and is deemed to have
defaulted in its repayments on facilities granted by Standard
Chartered Bank Malaysia Berhad (SCB) and Southern Bank Berhad
(SBB), which are unsecured.

The details of the facilities currently in default in compliance
with Section 3.1 of Practice Note 1/2001 are tabulated in Table
1 attached.

(A) Reason for Default in Payments

Due to the unfavourable timber market and depressed prices for
timber and timber related products throughout Asia since the
financial crisis in the year 1997, many of the Group's buyers
were adversely affected and are facing financial difficulties
leading to their inability to settle their outstanding balances
despite efforts made by the management to collect these
outstanding debts with the Group. As a result, the cashflow
generated from operations was not sufficient to service the
interest and principal obligations to the lenders as and when
they fell due.

(B) Measures by the listed issuer to address the default in
payments

Both SCB and SBB have agreed to the Proposed Debt Settlement &
Restructuring Scheme announced by MIB on December 22, 2003.

(C) Financial and legal implications in respect of the default
in payments including the extent of the listed issuer's
liability in respect of the obligations incurred under the
agreements for the indebtedness.

The estimated total outstanding as at July 31, 2005, in relation
to the payments, which are in default and are the subject matter
of this announcement amounts to MYR14,281,926.33.

Since MIB is the guarantor for these loans, MIB is liable for
the full amount and any further interest and financial cost
levied there or until the settlement of these debts.

(D) In the event the default is in respect of secured loan
stocks or bonds, the lines of action available to the guarantors
or security holders against the listed issuer.
Not applicable.

(E) In the event the default is in respect of payments under a
debenture, to specify whether the default will empower the
debenture holder to appoint a receiver or receiver and manager.

Not applicable.

(F) Whether the default in payment constitutes an event of
default under a different agreement for indebtedness (cross
default) and the details thereof, where applicable.

The facilities listed above represent the borrowings of the
MIB's wholly owned subsidiary, MSSB, and as a result of their
default, the remaining facilities granted by other lenders to
MSSB are all technically in default by virtue of the "Cross
Default" clauses in the Letter of Offers.

However, the lenders have kept in view further legal action
other than those, which have been disclosed in our Annual Report
and Announcements, since MIB is in active negotiations with them
to normalize and regularize the accounts.

To view a full copy of Table 1, click
http://bankrupt.com/misc/MangiumIndustriesTable1.doc

CONTACT:

Mangium Industries Berhad
Suite 19.06, 19th Floor,
Menara MAA, No. 12,
Jalan Dewan Bahasa,
50460 Kuala Lumpur
Telephone: 603-2145 1880
Fax: 603-2143 1880


MBF HOLDINGS: Court to Decide on Execution of Stay
--------------------------------------------------
Further to the announcement on August 17, 2005, MBf Holdings
Berhad disclosed to Bursa Malaysia Securities Berhad that the
application for stay of execution by the company and MBf Trading
Sdn Bhd which was heard on August 22, 2005, had been fixed for
decision on September 1, 2005.

Yours faithfully,

For and on behalf of
MBf Holdings Berhad
Ding Lien Bing
Company Secretary
23 August 2005

CONTACT:

Mbf Holdings Berhad
No 8 Jalan Yap Kwan Seng
50450 Kuala Lumpur, Selangor Darul Ehsan 46150
Malaysia
Telephone: +60 2167 8000
Fax: +60 2164 6985


PARK MAY: Board Dissolves Executive Committee
---------------------------------------------
The Board of Directors of Park May Berhad informed Bursa
Malaysia Securities Berhad that the board had on August 22,
2005, resolved to dissolve the executive committee of the Board
with immediate effect.

The executive committee comprised of:

(1) Dato' Mohd Nadzmi bin Mohd Salleh - Chairman
(2) Tengku Mohd Hasmadi bin Tengku Hashim - Member

CONTACT:

Park May Berhad
Lot 18115 Batu 5
Jalan Kelang Lama
58100 Kuala Lumpur
Telephone: 0379827060
Fax: 03-76254987
Web site: http://www.parmayberhad.com


PUNCAK NIAGA: Bourse to List New Shares
---------------------------------------
Puncak Niaga Holdings Berhad advised that its additional 25,000
new ordinary shares of MYR1.00 each issued pursuant to the
Employees' Share Option Scheme will be granted listing and
quotation with effect from 9:00 a.m., Thursday, August 25, 2005.


PUNCAK NIAGA: Granted Ex-Parte Injunction Application
-----------------------------------------------------
Puncak Niaga Holdings Berhad issued to Bursa Malaysia Securities
Berhad an update on Kuala Lumpur High Court Civil Suit No.: S3-
22-878-2005 Premier Ayer Sdn Bhd & another v Perbadanan Urus Air
Selangor Berhad & two others.

Reference is made to the Company's earlier announcement on
August 18, 2005 in relation to the abovementioned legal suit.

The company informed the exchange that at the hearing on August
22, 2005, the Judge allowed the ex-parte injunction to be held
over until the disposal of the inter-parte injunction. The
inter-parte injunction application and the inter-parte setting
aside application have been fixed for hearing on September 5,
2005.

This announcement is dated 23 August 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


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

BENPRES HOLDINGS: Clarifies Avenue Asia's Debt Purchase
-------------------------------------------------------
Benpres Holdings Corporation issued this announcement in
reference to the news article entitled "Avenue Asia buys
Benpres' debts" published in the August 22, 2005 issue of The
Philippine Star (Internet Edition).

The article reported that:

"Avenue Asia Capital Group, the partner of Union Bank which lost
to taipan Lucio Tan in a bid for a 67-percent stake in
Philippine National Bank (PNB), has bought the debts of Lopez-
controlled Benpres Holdings Corp., The Star sources disclosed.

"Avenue Asia is also a major holder of Bayantel's AU$200 million
in bonds. It is an international fund that acquires distressed
banking assets which earlier bought Php2.4 billion of the non-
performing loans of the Bank of Philippine Islands (BPI).

"It is not immediately known how much of Benpres' debts was
acquired by Avenue, but a highly placed source from the Benpres
group has confirmed that Avenue has indeed bought the debts of
the Lopez Holding firm."

Benpres Holdings Corporation (BPC), in its letter date August
23, 2005, informed the Exchange that:

(1) Avenue Asia is one of the creditors of both Benpres and
Bayantel. It bought the debts from other existing creditors.
Avenue Asia has not disclosed to Benpres the exact amount of
debts of (sic) it holds;

(2) All creditors are unsecured and, therefore, treated pari
passu (holding equal rights) with respect to Benpres principal
debt of US$403 million; and

(3) With the exit from Maynilad, Benpres is geared toward a
resumption of its debt restructuring negotiations which its
hopes to conclude in the next 12 months.

CONTACT:

Benpres Holdings Corporation
4/F, Benpres Building
Exchange Road corner Meralco Avenue
Ortigas Center, Pasig City
Phone No:  633-3368
Fax No:  634-3009
E-mail Address: jr_benpres@bayantel.com.ph
Web site:  http://www.benpres-holdings.com


COLLEGE ASSURANCE: Expects Fresh Funds by September
---------------------------------------------------
College Assurance Plans Philippines Inc. (CAP) is expecting
possible capital infusion by September, The Philippine Star has
learned.

The embattled pre-need provider said it was holding talks with
several groups of foreign investors, including a Hong Kong-based
company, in a bid to secure fresh funds.

CAP first vice-president Bobby Cafe said the pre-need firm
expects to receive $4 million a year over a period of five years
from St. Augustine, a humanitarian foundation based in Europe.
In exchange, CAP will issue a bank-to-bank authenticated message
of an asset safekeeping receipt over its Metro Rail Transit
(MRT) bonds.

The face value of the MRT bonds is worth US$81 million. The
bonds will revert to CAP after five years.

CAP is still hoping to forge a deal with Europe-based fund
manager International Global Capital Holdings AG, which was
earlier expected to pump in around Php1 billion in fresh equity
to CAP.

The cash-strapped pre-need provider is also holding negotiations
with a Honk Kong-based firm for the injection of new equity.

CAP has also revived talks with the North American marketing
firm that earlier expressed interest to invest in CAP. The
marketing firm, however, will invest only when CAP has
reacquired its dealership license from the Securities and
Exchange Commission (SEC).

The Securities and Exchange Commission has not renewed CAP's
dealership license due to the pre-need firm's failure to beef up
its shrinking trust fund. But CAP it will apply for renewal of
its dealership license because of the fresh equity infusion and
reduction of its trust fund variance.

CAP is hoping to raise its capitalization to Php20.8 billion
over a period of eight years as part of its recovery program
intended to address its liquidity woes.

CONTACT:

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


MANILA ELECTRIC: TOU Pricing Scheme Seen Boosting Finances
----------------------------------------------------------
Manila Electric Company's (Meralco) finances will improve
significantly once it implements its time-of-use (TOU)
electricity pricing scheme, relates The Philippine Star.

The TOU scheme is the same as that of telephone companies and
Internet service providers are using, where higher rates are
charged at daytime when usage is high and lower rates prevail at
night when usage is lower.

Based on Meralco's TOU application submitted to the Energy
Regulatory Commission (ERC), the power firm will collect
incremental metering and supply charges that will be on top of
the time-fee for the installation of new meters to capture meter
readings from the different TOU time zones.

Analysts noted that from these incremental metering and supply
charges alone, Meralco could generate revenues ranging from
Php16.4 billion yearly during the first phase of the
implementation, to a high of Php26.2 billion in the final phase
that will cover its entire franchise area.

Earlier, industry analysts noted that Meralco's petition with
the ERC for the TOU pricing scheme is considerably higher
compared to what the regulator approved last April for the
state-run National Power Corp. (Napocor).

Meralco buys about 40 to 50 percent of its power requirements
from Napocor while the rest is supplied by its own independent
power producers (IPPs) owned by affiliates First Gas and Quezon
Power.

Analysts noted that using the Monday to Saturday rate
structures, the difference between Napocor's and Meralco's TOU
pricing structure is on the average about 94.6 centavos.

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 BANK: Moody's Affirms Ratings After Privatization
----------------------------------------------------------
Moody's Investors Service has affirmed Philippine National
Bank's (PNB) Ba2/Ba3 local currency long-term
deposit/subordinated debt ratings and constrained B1/B1 foreign
currency senior debt/long-term deposit ratings with negative
outlooks.

The negative outlooks for its local- and foreign currency
debt/deposit ratings are in line with the negative outlook for
the Philippines' sovereign ratings. See press release of July
13, 2005 for greater discussion on sovereign issues. The bank's
Not-Prime short-term deposit ratings remain unaffected with a
stable outlook.

The rating agency also affirmed PNB's E bank financial strength
rating (BFSR) with a stable outlook.

These actions follow a recent announcement of Mr. Lucio Tan's
successful bid for the government's stake in PNB. The deal
enlarges the Filipino tycoon's equity interest in the bank to
78.5% from 45%.

Despite the reduced government stake in PNB to about 11.5% from
45%, and the bank's weak fundamentals, Moody's expects its
creditworthiness to be maintained at a level consistent with its
current credit ratings, given the likelihood of external support
if needed.

In the rating agency's view, the bank remains systemically
important, even though its position in the market has diminished
to fifth from second in recent years. PNB has an extensive
number of branches well spread-out across the archipelago, a
good international network, and brand-name recognition. It is
also an important conduit of foreign exchange for the
Philippines, given its leadership in the remittance business.

The affirmation of PNB's BFSR recognizes its professional
management, its improving, but still weak financial
fundamentals, as well as the challenges it might face in an
environment that could see further volatility and consolidation.
Moreover, while commercially minded, the bank's controlling
shareholder's diversified business interests could result in
concentrations in the credit portfolio.

Moody's would consider sustained improvements in profitability,
and significantly higher capital and reserves relative to its
non-performing assets to be positive for its BFSR. Such
achievements would be evidence of management's continued
autonomy in business decisions.

PNB, the Philippines' fifth largest domestic bank, had total
consolidated assets of P216.4 billion (US$3.8 billion) as at
December 31, 2004.

CONTACT:

Singapore
John Tham
Asst Vice President - Analyst
Financial Institutions Group
Moody's Singapore Pte Ltd.
Telephone: 65-6398-8300
Facsimile: 65-6398-8301

Hong Kong
May Yan
Vice President - Senior Analyst
Financial Institutions Group
Moody's Asia Pacific Ltd.
Telephone: 852-2509-0200
Facsimile: 852-2509-0165

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


NATIONAL POWER: JBIC Delay Prompts More Borrowing
-------------------------------------------------
Debt-ridden National Power Corporation (Napocor) was forced to
resort to more borrowing due to a delay in Japan's consent to
the sale of the state power firm's assets, The Manila Times
relates.

The Power Sector Assets and Liabilities Management Corp. (PSALM)
said that the Japan Bank for International Cooperation (JBIC)
has yet to give its consent to the transfer of NAPOCOR's debts
to the national government and the sale of its generating
assets. JBIC's consent remains the only stumbling block to the
sale after the Asian Development Bank and the World Bank earlier
approved the same.

The consent of the three creditors is neede so Napocor could
transfer its assets and liabilite4s to the government.

PSALM has the ADB's consent on the sale of the 600-megawatt
Masinloc coal-fired power plant, while the World Bank has sent
the government a revised agreement for review and approval.

While awaiting JBIC's consent, the Napocor has been on a
borrowing tack, with the Monetary Board approving "in principle"
the firm's planned US$400 million in foreign borrowings this
year.

The state-onwed power firm expects to break even this year froma
net loss of Php29.9 billion in 2004 after the national
government's absorption Php200 billion of the firm's debt

CONTACT:

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


PHILIPPINE AIRLINES: Earns US$27.5 Mln in 3 Months
--------------------------------------------------
Philippine Airlines Inc. (PAL) booked a net profit of US$27.5
million (Php1.538 billion) for the first quarter to June due to
higher passenger volume offset the impact of higher fuel costs,
The Manila Bulletin reports.

The figure is up 73 percent from US$15.9 million (Php899.7
million) in the same period last year.

The increase in revenue of US$19.9 million was brought about
mainly by the increase in passenger revenues amounting to
US$18.1 million.

Total operating expenses rose by 11 percent year-on-year to
US$226.7 million, mainly due to higher fuel costs and
maintenance expenses, PAL said.

It said maintenance expenses grew 26 percent year-on-year or by
US$9.2 million to US$44.3 million due mainly to higher aircraft,
component and engine repair cost.

PAL was reporting its quarterly results denominated in US
dollars for the first time. Previous results were denominated in
Philippine pesos.

PAL booked a lower foreign exchange loss of US$939,000 in its
first quarter, compared to a loss of US$5.8 million a year
earlier. It said this was the result of the peso appreciation
against the US dollar to Php54.60/$ on June 30 this year from
Php56.00 a year earlier.

CONTACT:

Philippine Airlines
Mabuhay Miles Service Center
Ground Floor, Philippine Airlines Center
Legazpi Street, Legaspi Village
Makati City 0750, Philippines
Phone : Manila (632) 817-8000
       USA/CANADA 1-800-747-1959
Fax : (632) 818-4921 ; 893-6884
E-mail : mabuhaymiles@pal.com.ph
Web site: www.philippineairlines.com


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

ACCORD CUSTOMER: Issues News Article Clarification
--------------------------------------------------
Accord Customer Care Solutions Limited (ACCS) refers to an
article published in The Straits Times on Aug. 23, 2005,
entitled: "ACCS Owes Investors an Explanation at Next AGM."

The Company has issued a reply to the Singapore Exchange Limited
(SGX) to clarify such article.

Attached is the Company reply letter:

http://bankrupt.com/misc/tcrap_accordcustomer082405.pdf

BY ORDER OF THE BOARD
Woo Kah Wai
Company Secretary
Aug. 23, 2005

CONTACT:

Accord Customer Care Solutions Limited
20 Toh Guan Road #07-00
Accord District Center
Singapore 608839
Telephone: 65 64102600
Fax: 65 64102610
Web site: http://www.accordccs.com


SOON TAT: To Distribute Preferential Dividend Next Month
--------------------------------------------------------
Soon Tat Construction Pte Limited, formerly of 71 Lorong, 23
Geylang, #08-01 THK Building, Singapore 388386, posted a notice
of intended dividend at the Government Gazette, Electronic
Edition with the following details:

Name of Company: Soon Tat Construction Pte Limited
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 407 of 1998
Last day for receiving proofs: Sept. 2, 2005
Name  & address of Liquidators: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Chan Wang Ho
Assistant Official Receiver
Aug. 19, 2005


UNITED FIBER: Taps Consultants on Paper Firm Acquisition
--------------------------------------------------------
United Fiber System Ltd announced on Aug. 23, 2005 that the
Company has appointed the following professional parties to
advise on the proposed acquisition of Indonesian pulp and paer
firm PT Kiani Kertas:

In terms of legal due diligence matters, Rodyk & Davidson was
appointed to advise the Company on the restructuring of PT Kiani
Kertas and the sales and purchase agreement, whilst Wong
Partnership will advise the Company on corporate governance &
legal compliance with SGX regulations.

Indonesian law firm of Ali Budiardjo, Nugroho, Reksodiputro was
also appointed to advise on Indonesian law. Both the Singapore
and Jakarta offices of Ernst and Young will also be involved as
appointed advisors to the Company on financial and tax matters.

Sandwell Inc. of Canada os conducting the necessary technical
due diligence on the pulp mill.

Mr Kishore Dass, CEO of UFS, said:" The professional parties are
all in place and have started work in their respective roles. As
per our announcement on Aug. 21, 2005, we are proceeding with
the acquisition and I am happy to report that things are
proceeding as planned in terms of due diligence and this is
another step towards closure."

Deutsche Bank AG, Singapore Branch is the Financial Advisor to
the Company on the proposed acquisition, and will assist in the
arrangement of financing thereof.

CONTACT:

United Fiber System Limited
103 Defu Lane 10
Poh Lian Building 1
Singapore 539223
Phone: 65 62846006
Fax:   65 62840074
Web site: http://www.ufs.com.sg


WEE POH: Posts Sharp Decline in Net Loss for 2005
-------------------------------------------------
Wee Poh Holdings Limited announced that the Company reported a
70% decrease in its net loss for the financial year ended June
30, 2005.

The Company posted a net loss of SGD5.68 million after taxes,
much smaller compared to its reported SGD19.13 million net loss
for the same period last year.

To view the Company's financial statements, go to:

http://bankrupt.com/misc/tcrap_weepoh082405.pdf

CONTACT:

Wee Poh Holdings Limited
213 Upper Thomson Road
Singapore 574348
Telephone: 65 64521210
Fax: 65 64536310
Web site: http://www.weepoh.com.sg


WENCON SINGAPORE: Creditor Seeks to Wind Up Business
----------------------------------------------------
Notice is hereby given that Singland Heavy Machinery &
Construction Pte Limited, a creditor of Wencon Singapore Pte
Limited, filed a winding up petition against the Company on Aug.
12, 2005.

The petition is directed to be heard before the Court sitting at
the Singapore High Court on Sept. 9, 2005, 10:00 a.m.

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

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

The Petitioner's address is 118 Aljunied Avenue 2 #07-108,
Singapore 380118.

The Petitioner's solicitors are Messrs. CH Partners of 230
Orchard Road, #07-232A Faber House, Singapore 238854.

Dated the 19th day of August 2005

CH Partners
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to solicitors Messrs. CH Partners
of 230 Orchard Road, #07-232A Faber House, Singapore 238854,
notice in writing of his intention to do so. The notice must
state the name and address of the person, or, if a firm the name
and address of the firm, and must be signed by the person or
firm, or his or their solicitor (if any) and must be served, or,
if posted, must be sent by post in sufficient time to reach the
solicitors not later than 12:00 p.m. of Sept. 8, 2005(the day
before the day appointed for the hearing of the Petition).


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

DAIDOMON GROUP: Court to Hear Rehab Petition September 12
---------------------------------------------------------
Daidomon Public Co. Ltd. informed the Stock Exchange of Thailand
(SET) that the Central Bankruptcy Court has set the next hearing
for the petition for rehabilitation of the company on September
12, 2005.

Please be informed accordingly.

With kind regards,
Pudhimate Lterdwiriyasate
Executive Director

CONTACT:

Daidomon Group Public Company Limited   
144 Soi Thong-Lo, Sukhumvit 55,
North Klongton, Wattana Bangkok    
Telephone: 0-2381-5529-31,0-2381-6876-9   
Fax: 0-2381-1931   
Web site: http://www.daidomon.co.th


RS PROMOTION: Radio Business Helps Boost Revenue
------------------------------------------------
The consolidated financial statements of RS Promotion Public
Company Limited and its subsidiaries for the three-month period
ended June 30, 2005 (Q2/2005) presented a net loss of THB131.1
million, represented THB34.9 million or 36.3 percent change from
net loss of THB96.2 million for the same period of the year 2004
(Q2/2004).

The following were the key drivers of the results:

Total revenues for the three-month period ended June 30, 2005
totaled THB611.2 million, an increase of THB 142.6 million or
30.4 percent from the same period last year due to:

- Advertising revenue increased by THB 86.3 million or 79.5
percent, contributed by:

- Increase in advertising income from radio business of THB51.4
million or 175.9 percent which resulted from higher popularity
rating of 93 Cool FM and 88.5 FM Max, and also from the addition
of 106 Life FM which has begun its operation since July last
year.

- Revenue from TV-program advertising increased by 49.9 percent
due to increase in numbers of non-music programs in prime time
slot since Q1/2005 such as Muang Thai Variety and drama series.

- Revenue from copyrights rose by THB51.1 million or 109.5
percent, mainly contributed by increases in revenues from new
media such as ringtone and other content download and revenue
recognition from sales of VCD/DVD copyrights of one motion
picture namely The Bullet Wife.

- Nevertheless, revenues from motion pictures dropped by THB17.1
million since The Bullet Wife was the only motion picture
released in Q2/2005 compared to 2 motion pictures released
during the same period last year (Q2/2004). Additionally,
revenue from product sales declined by THB8.9 million.

Cost of sales and production increased from the same period last
year by THB50.9 million or 11.8 percent due to more productions
of TV programs and operation of radio stations.

Selling and administrative expenses increased by THB131.6
million or 107.3 percent from the same period last year as
results of various allowances made, net of reversion items,
totaling THB102.1 million compared to THB4.9 million during
Q2/2004. Increases in allowances derived from the following:

- Increase in impairment charges of movie and telemovie
copyrights totaling THB75.3 million which was made to reflect
revenue potential of these assets based on current market
situations.

- Increase in allowance for sales return amounted to 27.7
million since sales return estimation was adjusted in reference
to current market situation and actual returns incurred during
the year.

Excluding all allowances made during the period, the company
would present net loss before interest expense and income taxes
of THB22.3 million.

Sincerely yours,

Surachai Chetchotisak
Chief Executive Officer

CONTACT:

R.S. Promotion Public Company Limited
Chetchotisak Building,
419/1 Ladphrao 15,
Ladphrao Road, Chomphon,
Chatuchak Bangkok  
Telephone: 0-2511-0555
Fax: 0-2511-2324
Web site: http://www.rs-promotion.com


THAI-GERMAN PRODUCTS: Net Income Drops to THB0.6Mln
---------------------------------------------------
Thai-German Products Public Company Limited (TGPRO) has
submitted to the Stock Exchange of Thailand (SET), its Reviewed
Financial Statement as of June 30, 2005.

In addition, TGPRO explained its operating performance during
the second quarter of 2005, compared to the same period of 2004
as of the following:

For the second quarter of 2005, TGPRO reported a drop in net
income from THB3.6 million to THB0.6 million because of a
decrease in gross profit margin.  The decreased gross profit
margin resulted from decrease in selling price which is in line
with the global price.

Yours faithfully,

Apinun Ratchatasombat
Authorized Director
PLV & Associate Company Limited
As Business Reorganization Plan Administrator of
Thai-German Products Public Company Limited

CONTACT:

Thai-German Products Pcl   
99 Huaypong-Nongbon Road,
Tambol Huaypong, Amphur Muang Rayong    
Telephone: 0-3868-4901-5   
Fax: 0-3868-4906   
Web site: http://www.tgpro.co.th


THAI NAM: Explains Increase in Net Profit
-----------------------------------------
Thai Nam Plastic Co. Ltd. furnished the Stock Exchange of
Thailand (SET) an explanation on the net profit it posted in its
second quarter financial report.

The financial statement had shown a net profit of THB16.7
million in the 2nd quarter of 2005 whereas the company reported
a net loss of THB24.2 million for the same period of last year,
so, the Company issued a clarification on how it has improved
its financial status.

(1) Due to the growth of automotive industry, the Company could
pleasantly increase its sales revenue for another 22 percent
compared with the figure of the previous year.  

Additionally, the high production efficiency and the improvement
of management in several functions were treated for another
factors to reduce the Company's cost of goods sold and the
selling & administrative expenses compared to the same period of
last year.

(2) A subsidiary company could recover its performance to the
profit figure due to the sales increment deriving from the high
demand in the country.

However, when combined, the performance of this quarter to the
previous one, the Company could achieve the net profit of
THB23.9 million in the first half of this year whereas it faced
the net loss of THB22.0 million in the corresponding period of
last year.

Please be informed accordingly.

Faithfully Yours,

Mrs. Siriphorn Mangkornkarn
Deputy Managing Director

CONTACT:

Thai Nam Plastic Public Company Limited   
40 Moo 7 Petchkasem Road, Km 23, Krathum Baen Samut Sakhon    
Telephone: 0-2420-9968-74, 0-2810-3000 (40 Lines)   
Fax: 0-2420-1827, 0-2420-9967   
Web site: http://www.thainam.com


THAI WAH: Answers SET Query
---------------------------
Reference is made to Thai Wah Public Co. Ltd's letter submitted
to the Stock Exchange of Thailand (SET) dated August 10, 2005.  

The company issued another letter in response to the SET's
questions dated July 28, 2005 to nos. 1.3, 1.5 and 4 submitted
by Class A Directors.

Please be informed accordingly.

Sincerely yours,

Mr. Kuan Chiet
Class A Director
Thai Wah Group Planner Company Limited
As the Plan Administrator of Thai Wah
Public Company Limited

To view a full copy of the company's reply to query, click
http://bankrupt.com/misc/ThaiWahPublic082405.doc

CONTACT:

Thai Wah Public Company Limited
21/63-64, 21/66A, 21/68 Thai Wah Tower I, 21st, 22nd, 24th
floor, South Sathorn, Tungmahamek, Sathorn, Bangkok 10120
Telephone: 0-2285-0040, 0-2285-0241-56   
Fax: 0-2285-0269-70   
Web site: http://www.thaiwah.com







                            *********


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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
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contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

The TCR -- Asia Pacific subscription rate is $575 for 6 months
delivered via e-mail. Additional e-mail subscriptions for
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subscription or balance thereof are $25 each.  For subscription
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                 *** End of Transmission ***