TCRAP_Public/050919.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, September 19, 2005, Vol. 8, No. 185

                            Headlines

A U S T R A L I A

A.C.N. 004 837 763: Gideon Rathner Named Liquidator
ADVANTAGE BLUE: Creditors Shut Down Business
AIR NEW ZEALAND: Releases Investor Update
ALLSTATE EXPLORATIONS: Stays in the Red Despite Booking Profit
ASHIKO PTY: Members Decide to Close Operations

BOND GLEN: Members Opt for Voluntary Liquidation
CAMBERWELL POTTERIES: Members to Receive Wind Up Report
CARTER HOLT: Directors Turn Down NZ Takeover
CARTER HOLT: Cut Three Notches to 'BB' as Rank Takes Control
CREASY'S GRAIN: Collapse May Leave Grain Growers Out of Pocket

DETAN PTY: Liquidator to Distribute Company Assets
EAGLEVALE DEVELOPMENTS: Court Issues Winding Up Order
ELITE ELECTRICAL: To Distribute Dividend to Employees
FISHER & GIBBS: Liquidator Sets Final Meeting September 23
FLOWCOM LIMITED: Shareholders to Vote on Recapitalization

HAWKRIDGE FOREST: Members Resolve to Wind Up Business
H.H. SERVICES: Appoints Official Liquidator
INCITEC PIVOT: Hit by Restructure Blowout
JAMES HARDIE: Premier Wants Compo Deal Finalized
KNOWLES INVESTMENT: Liquidator to Detail Wind Up Manner

LIHIR GOLD: Appoints New CEO, Assumes Independent Management
MILLCRIST EMPLOYMENT: Members Pass Winding Up Resolution
NATIONAL AUSTRALIA: Staff Goes Back to School
OLSSON CONSTRUCTIONS: Court Appoints Official Liquidator
PORQUE PTY: Members, Creditors to Convene to Discuss Wind Up

SOFTWARE TESTING: Winding Up Process Initiated
SONS OF GWALIA: Shareholders Score Major Victory
SYMMONS PLAINS: Enters Liquidation
TRIME PTY: Pays Out Dividend
TYSON HOLDINGS: Shuts Down Business

VILLAGE LIFE: Welcomes New Chief Property Officer
WA LA HAWKINS: Creditors Confirm Liquidator's Appointment
W & W TINYTOW: Set to Pay Dividend to Creditors


C H I N A  &  H O N G  K O N G

BANK OF CHINA: To Open 16 More Branches in Mainland
DAIMLERCHRYSLER AG: To Manufacture 300 Sedans in China
DAIMLERCHRYSLER AG: Signs Hybrid Agreement With GM
DIGITEL GROUP: Faces Delisting if No Viable Proposal Filed
GA CONSULTANCY: Winding Up Hearing Slated for November 23

GUANGDONG KELON: Police Busts Ex-chairman
LUENROY LIMITED: Schedules Winding Up Hearing October 26
SHENZHEN BICYCLE: Notes Unusual Share Price Hikes


I N D I A

MIRC ELECTRONICS: Fitch Withdraws 'F1+(ind)' Rating


I N D O N E S I A

CITRA MARGA: UBS Unit Buys 15% Stake
PERTAMINA: Delays Signing Cepu Deal with ExxonMobil
PERTAMINA: Supply Hike Insufficent to Meet Domestic Demand
PERTAMINA: Targets Oil Output Increase by 2008
PERTAMINA: To Explore Four Gas Wells This Year


J A P A N

DELPHI CORPORATION: Enters Diesel Contract With Hyundai
HITACHI LIMITED: Intends to Pay Interim Dividend December 2005
JAPAN AIRLINES: Teams Up With Langham Hotels
JAPAN AIRLINES: JCR Downgrades Rating to BB+
JAPAN BROADCASTING: To Trim Jobs by 10%

KANEBO LIMITED: To Quit Resin Business
SOFTBANK CORPORATION: Posts Changes in Company Ownership
SONY CORPORATION: Clarifies Financial Unit Sell-off
* Teikoku Unveils 754 Corporate Bankruptcies in August


K O R E A

CITIBANK KOREA: VP Relocated to Singapore


M A L A Y S I A

DAI HWA: To Submit New Regularization Proposal
DFZ CAPITAL: Issues New Shares for Listing, Quotation
DUOPHARMA BIOTECH: Unveils TMSB Dealing in Shares
HAP SENG: Buys Back 52,000 Shares
JIN LIN: Restructuring Scheme Wins SC Nod

K.P. KENINGAU: Books MYR1,524 in 4Q Net Loss
KUB MALAYSIA: Unit Snags New Contract
LITYAN HOLDINGS: Due Diligence Period Extended
MEDIA PRIMA: Bourse to List, Quote New Shares
NEPLINE BERHAD: Responds to Bourse's Query

POLYMATE HOLDINGS: Details Proposed Acquisition of Apollo
POS MALAYSIA: New Shares Up for Listing, Quotation
TANAH EMAS: Bourse Grants Listing, Quotation of New Shares
TAP RESOURCES: Given Until December to Redeem RCSLS
YNH PROPERTY: Wants More Time to Amalgamate Land Title


P H I L I P P I N E S

AL-AMANAH BANK: BSP, PDIC Presses Rehabilitation
COLLEGE ASSURANCE: Says SEC Criminal Suit 'Harassment Tactic'
MAKATI MEDICAL: Closure Likely if Strike Pushes Through
PACIFIC PLANS: Cash Woes Remain Despite Asset Transfer from Unit
UNIWIDE HOLDINGS: Cleared to Tap Partner's Fund to Pay Workers

* Pre-need Industry Suffers Sluggish Sales


S I N G A P O R E

DE FENG: Court Issues Winding Up Order
INDO GRAHA: Creditors Asked to Submit Debt Claims
NEOCORP INTERNATIONAL: Served with Winding Up Petition
UNITED FIBER: HTSG Not a Shareholder, Merely Escrow Agent


T H A I L A N D

EASTERN WIRE: JJ Lands Settles Dues
JASMINE INTERNATIONAL: Unveils Result of Warrant Conversion
PICNIC CORPORATION: Relates Process of Warrant Exercise
PREMIER ENGINEERING: Unit to Dispose of Properties

     -  -  -  -  -  -  -  -

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

A.C.N. 004 837 763: Gideon Rathner Named Liquidator
---------------------------------------------------
Notice is hereby given that at a meeting of the members and
creditors of A.C.N. 004 837 763 held on Aug. 10, 2005, it was
resolved that the Company be wound up, and that Gideon Isaac
Rathner of Lowe Lippmann, 5 St. Kilda Road, St. Kilda,
Victoria, 3182 be appointed Liquidator for such purpose.

Dated this 12th day of August 2005

Gideon I. Rathner
Liquidator
Lowe Lippmann, 5 St. Kilda Road
St. Kilda, Victoria 3182


ADVANTAGE BLUE: Creditors Shut Down Business
--------------------------------------------
Creditors of ailing Victoria- based Advantage Blue Feeds have
decided to wind up the Company, according to ABC News Online.

The Company has been placed in liquidation to allow full
investigation of the stock feed firm's financial affairs.

Liquidator Tom Javorsky said it is working to sell the
Bridgewater mill as a going concern. He added that it will be
some time before 200 unsecured creditors know whether they will
get their money.

He admitted he has no idea how long it will take for the
receiver to realize sufficient assets to discharge secured
creditors debt.

Advantage Blue went into receivership last month, owing tens of
thousands of dollars to 190 creditors.

The firm reportedly owes millions of dollars to its parent
company and the bank as well as grain suppliers and
transporters.


AIR NEW ZEALAND: Releases Investor Update
-----------------------------------------
Air New Zealand has released its Investor Update, including July
operating statistics, fleet update, and recent company
announcements.

COMMENTARY ON JULY OPERATING STATISTICS

With the exception of load factor, the July 2005 operating
statistics are not directly comparable with the previous period
due to 31 days being captured in the July 2005 operating
statistics compared with 25 days in July 2004.

Load factor movements when compared to July 2004 were:

-Group load factor increased 1.4 percentage points to 80.7
percent.

-Domestic load factor of 75.7 percent was 0.7 of a percentage
point lower.

-Tasman and Pacific Islands load factor was 2.0 percentage
points lower at 75.8 percent.

-Overall short-haul load factor of 75.8 percent was 1.6
percentage points lower.

-Asia/Japan load factor of 76.3 percent was up 2.5 percentage
points.

-North/America and Europe load factor was up 4.0 percentage
points to 88.9 percent.

-Overall long-haul load factor was up 3.8 percentage points to
84.5 percent.

To enable comparison with the previous period, a daily weighted
average figure was used to calculate year-on-year movements. The
main trends were as follows:

-Increased frequency and wide-body flying on Australian and
Pacific Island routes contributed to an 8.0 percent increase in
capacity when compared with the previous period.

-Asia / Japan capacity was 10.4 percent lower, reflecting the
reduction in scheduled capacity when compared to the previous
period and the cancellation of some services due to the cabin
crew strike.

-North American / European traffic increased 7.0 percent,
boosted by the British and Irish Lions Rugby Tour supporters
returning to the United Kingdom.

Group yield, adjusted for currency fluctuations and including
fuel surcharges was up 5.6 percent over the previous comparative
period. Short-haul yield increased 3.8 percent; and long-haul
yield was up 7.3 percent.

FLEET UPDATE

Key fleet movements between 30 June 2005 and 31 August 2005
were:

-Delivery in July of first Q300 aircraft for regional fleet,
into service in August

-Delivery in July of Freedom Air's second Airbus A320 (11th A320
for the group)

-End of lease for temporarily leased ATR72-200.

RECENT COMPANY ANNOUNCEMENTS

Air New Zealand Reports Solid Result in Difficult Circumstances
(date released 29 August 2005)

Air New Zealand announced a net profit after tax of $180
million, eight percent higher than 2004. Profit before unusuals
and tax for the year ended June 30 2005 was $235 million,
compared with $243 million in the previous financial year.
Liquidity continued to improve with cash held of $1.1 billion,
up five percent. Gearing improved five percentage points to 51.5
percent. The Board declared a final dividend of 2.5 cents per
share, fully imputed, in line with earlier guidance. Total
dividend for the year is 5 cents per share, fully imputed.

Hong Kong Tax Dispute Settled (date released 23 August 2005)

In March 2004, Air New Zealand advised the market that the Hong
Kong branch of its subsidiary New Zealand International Airlines
Ltd had received amended income tax assessments from the
Hong Kong IRD for the period from 1989 to 2002. Air New Zealand
and the Hong Kong IRD have reached agreement on a basis of
assessment which covers the years noted as well as 2003 and
2004. A resolution has been reached which is considered to be a
satisfactory and fair outcome consistent with the Company's
expectations. No potential future liabilities relating to this
matter are anticipated beyond this point.

Fuel Surcharge Increased (date released 22 August 2005)

Due to continuing record jet fuel prices, Air New Zealand has
increased its fuel surcharges effective from 01 September.
Domestic airfares increased by an average of $6 or 4.5%.
International tickets sold in New Zealand for Trans-Tasman and
Pacific Islands flights now incur a $52 per sector surcharge (up
from $42) with long-haul sectors incurring a $92 surcharge per
sector (up from $72). The surcharge for customers flying from
New Zealand to the UK or Europe has increased from $132 to $152
each way.

UPCOMING INVESTOR EVENTS

Annual Shareholder's Meeting

The 66th Annual Shareholders' Meeting will be held on Wednesday
19 October at 2pm, in the Auckland Rooms 3 & 4, Sky City
Convention Centre, 88 Federal Street, Auckland.

CONTACT:

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


ALLSTATE EXPLORATIONS: Stays in the Red Despite Booking Profit
--------------------------------------------------------------
Allstate Explorations NL continue to waste away in
administration with its investors getting no dividends despite
the Company announcing an AU$8.4 million profit, The Australian
has learned.

The Company, joint owner of the Beaconsfield mine in North
Tasmania, has a huge liability to Macquarie Bank, which
continues to reap a rich harvest from the mine through a
controversial debt-buyout deal.

Allstate reportedly paid Macquarie Bank AU$5.1 million for the
past year on top of an AU$15 million payment the previous year.
These payments are part of a 2002 deal in which Macquarie bought
AU$77million of Allstate's inter-company loans for just
AU$300,000. The published accounts reveal Allstate still owes
AU$48 million to Macquarie.

The arrangement, which gives Macquarie first claim over
Allstate's profits from the Beaconsfield mine, was recommended
by the Perth-based administrator Michael Ryan, of chartered
accountants Taylor Woodings, and approved by creditors at a
meeting in March 2002.

The financial statement lodged by Mr. Ryan on Tuesday night
comes after the other partner in the mine, Beaconsfield Gold,
paid a dividend to its shareholders.

Allstate remains technically insolvent with a balance sheet
AU$35million in the red.


ASHIKO PTY: Members Decide to Close Operations
----------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Ashiko Pty Limited held on Aug. 17, 2005, members passed a
Special Resolution to voluntarily wind up the Company, and
appointed M. F. Cooper for such purpose. Creditors confirmed the
Liquidator's appointment at a creditors' meeting held that same
day.

Dated this 17th day of August 2005

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


BOND GLEN: Members Opt for Voluntary Liquidation
------------------------------------------------
At a general meeting of the members of Bond Glen Pty Limited
duly convened and held on Aug. 10, 2005, the following
resolutions were passed:

SPECIAL RESOLUTION

That the Company be wound up voluntarily.

ORDINARY RESOLUTION

That Andre Janis Strazdins and Nicholas David Cooper of
SimsPartners, Level 4, 12 Pirie Street, Adelaide SA 5000 be
nominated Joint & Several Liquidators for the winding up.

Dated this 10th day of August 2005

Nicholas D. Cooper
Andre J. Strazdins


CAMBERWELL POTTERIES: Members to Receive Wind Up Report
-------------------------------------------------------
Notice is hereby given that the final meeting of members of
Camberwell Potteries Pty Limited will be held on Sept. 23, 2005,
11:00 a.m. at 123 Camberwell Road, Hawthorn East to lay before
the meeting the Liquidator's final account and report, and to
give any explanation thereof.

Dated this 17th day of August 2005

Graham R. M. Kemp
Liquidator
C/o 123 Camberwell Road, Hawthorn East


CARTER HOLT: Directors Turn Down NZ Takeover
--------------------------------------------
Independent directors of Carter Holt Harvey have rejected an
AU$3-billion takeover offer from majority stakeholder Graeme
Hart, The Australian reveals.

Directors unanimously turned down the offer after reviewing the
information available to them and after deciding that Mr. Hart's
offer is below fair value.

In a letter to shareholders, the directors said an independent
adviser's report from corporate accountants Grant Samuel had
valued the company at between NZ$2.55 and NZ2.95 a share.

The statement warned shareholders that once the offer was off
the table, their shares could fall in value.

But the rejection is unlikely to bother Mr. Hart, who was
required by Kiwi corporations law to make a full takeover offer
when he secured IP's majority stake, but has made little effort
to woo Carter Holt shareholders.

Carter Holt, which is listed on both the Australian and New
Zealand stock exchanges, warned on Monday last week that lower
selling prices for the wood and pulp used in paper-making, as
well as continued strength in the Kiwi dollar, would reduce
full-year earnings before interest and tax by NZ$25-30 million.

But Mr. Hart has not blinked at the firm's profit warning.

CONTACT:

NEW ZEALAND
Carter Holt Harvey Limited
640 Great South Road
Manukau City
Auckland 1020
Phone
From New Zealand:  09 262 6000
From Australia: 0011 64 9 262 6000
International: +64 9 262 6000
Facsimile
From New Zealand: 09 262 6099
From Australia: 0011 64 9 262 6099
International: +64 9 262 6099

AUSTRALIA
Carter Holt Harvey Limited
Como Office Tower
Level 16, 644 Chapel Street
South Yarra
Melbourne, VIC 3141
Telephone
From Australia: 03 9823 1600
From New Zealand: 0061 3 9823 1600
International: +61 3 9823 1600
Facsimile
From Australia: 03 9823 1620
From New Zealand: 0061 3 9823 1620
International: +61 3 9823 1620


CARTER HOLT: Cut Three Notches to 'BB' as Rank Takes Control
------------------------------------------------------------
Standard & Poor's Ratings Services on Friday lowered its ratings
on Carter Holt Harvey Ltd. (CHH) after New Zealand-based Rank
Group Investment Ltd. (not rated) agreed to purchase 50.5% of
CHH.

The long-term ratings on CHH were lowered to 'BB' from 'BBB' and
the short-term ratings to 'B-3' from 'A-2'. The ratings also
remain on CreditWatch with negative implications, where they
were placed on Aug. 17, 2005.

On Sept. 15, 2005, Rank Group lodged a full takeover offer to
purchase all of the ordinary shares in CHH for NZ$2.50 cash per
share. Former CHH majority owner International Paper has
accepted the Rank Group offer, which has satisfied the minimum-
shareholder-acceptance conditions under the takeover offer.
Accordingly, Rank Group now owns 50.5% of CHH's shares. The Rank
Group offer is scheduled to close on Oct. 13, 2005. However,
regardless of further acceptances, Rank Group now has control of
CHH.

The rating downgrade presumes that the Rank Group is funding its
offer predominantly with debt, and that the proforma
consolidation will substantially weaken CHH's financial profile.
The CreditWatch placement reflects ongoing uncertainties
surrounding Rank Group's future strategic direction for CHH, and
CHH's eventual capital structure and financial policies. The
short-term rating of 'B-3' factors in significant near-term
uncertainty regarding CHH's liquidity and near-term funding
requirements.


CREASY'S GRAIN: Collapse May Leave Grain Growers Out of Pocket
--------------------------------------------------------------
The collapse of trading Company Greasy's Grain Enterprises could
leave a group of grain growers in New South Wales, Queensland
and Victoria out of pocket, ABC News Online reveals.

The Company, which has fallen under administration in August, is
now facing liquidation with total debts of AU$19.4 million.

Receivers will now sell the company's assets, including offices
at Henty and Premer in New South Wales, and Toowoomba in
Queensland.

Liquidator Tom Javorsky says it is unclear whether unsecured
creditors, like growers and trucking companies, will be paid.

He explained the money will be used to refinance the debt to to
Rothschilds. Any surplus from the payment to Rothschilds will
then be distributed to unsecured creditors.

CONTACT:

Creasy's Grain Enterprises
Yankee Crossing Rd
Henty NSW 2658
Phone: 02 6929 3377
Fax: 02 6929 3256
E-mail: lyndon@creasygrains.com


DETAN PTY: Liquidator to Distribute Company Assets
--------------------------------------------------
At a general meeting of the members of Detan Pty Limited duly
convened and held on Aug. 15, 2005, the following Special
Resolution was passed:

That the Company be wound up voluntarily, and that Paul Jeffery
of Crispin & Jeffery Chartered Accountants, Level 2, 57
Grosvenor Street, Neutral Bay, New South Wales, be appointed
Liquidator for winding up.

That on the winding up of the Company, its assets may be
distributed amongst the Members in Specie (the whole or in
part), according to their rights and interest in the
Company.

Dated this 15th day of August 2005

Paul Jeffrey Liquidator
c/o Crispin & Jeffery
Chartered Accountants
Level 2, 57 Grosvenor Street
Neutral Bay NSW
Phone: 02 9908 4744
Fax: 02 9953 8951


EAGLEVALE DEVELOPMENTS: Court Issues Winding Up Order
-----------------------------------------------------
On Aug. 16, 2005, the Supreme Court of New South Wales, Equity
Division ordered that Eaglevale Developments Pty Limited be
wound up, and appointed R. J. Porter to be Liquidator of the
Company.

R. J. PORTER
Liquidator
Moore Stephens
Chartered Accountants
Level 6, 460 Church Street
Parramatta NSW 2150


ELITE ELECTRICAL: To Distribute Dividend to Employees
-----------------------------------------------------
Elite Electrical Contractors Pty Limited will declare a first
and final dividend on Sept. 21, 2005, with respect to priority
employee entitlements.

Creditors whose debts or claims have not already been admitted
are required on or before Sept. 20, 2005 to formally prove their
debts or claims. If they do not, they will be excluded from the
benefit of the dividend.

Dated this 16th day of August 2005

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


FISHER & GIBBS: Liquidator Sets Final Meeting September 23
----------------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Fisher & Gibbs Pty Limited will be held on Sept.
23, 2005, 9:30 a.m. in the offices of PPB, Chartered
Accountants, 10th Floor, 26 Flinders Street, Adelaide.

AGENDA:
(1) To receive the Liquidator's account showing the manner of
the winding up and disposal of the property of the Company, and
to give an explanation thereof.

Dated this 17th day of August 2005

M. C. Hall
Liquidator
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000


FLOWCOM LIMITED: Shareholders to Vote on Recapitalization
---------------------------------------------------------
Shareholder of Flowcom Limited is set to vote to recapitalize
the company to save it from liquidation at a general meeting on
October 19, 2005 at 11 a.m.

The recapitalization will involve restructuring the firm's
capital base, raising working capital, appointing a new board of
directors, terminating the deed of company arrangement, retiring
the deed administrators, receiving forgiveness for the debts of
company creditors and applying to be reinstated on the
Australian Stock Exchange (ASX).

The company proposes to consolidate the issued capital on a 1:34
basis and reduce capital by applying $40,912,000 against the
share capital that is considered permanently lost.

The capitalization will include the issue of 120,000,000 shares
and 40,000,000 options and the issue of 150,000,000 shares to
raise AU$1.5 million.

Finally a new board of directors, Greg Pennefather, Nadine
Donovan and Jonathan Huston is proposed.

Shareholders will meet at Lawler Partners Level 7, 1 Margaret
Street, Sydney, New South Wales.

CONTACT:

Flowcom Limited
C/-Lawler Partners , Level 7,
1 Margaret Street , SYDNEY,
NSW, AUSTRALIA, 2000
Telephone: (02) 8346 6000
Fax: (02) 8346 6099
Web site: http://www.flow.com.au


HAWKRIDGE FOREST: Members Resolve to Wind Up Business
-----------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Hawkridge Forest Pty Limited held on Aug. 19, 2005, a Special
Resolution was passed to voluntarily wind up the Company, and
Donald Hugh McKenzie was appointed Liquidator for such purpose.

Dated this 19th day of August 2005

Donald H. McKenzie
Liquidator
c/o KPMG
Level 2, 33 George Street
Launceston Tas 7250


H.H. SERVICES: Appoints Official Liquidator
-------------------------------------------
Notice is given that the Supreme Court of New South Wales,
Equity Division appointed Deryk Andrew to be Liquidator for the
winding up of H. H. Services Pty Limited.

Deryk Andrew
Liquidator
Bentleys MRI
Sydney Business Recovery & Insolvency Partnership
PO Box Q1165, QVB Post Office
Sydney NSW 1230


INCITEC PIVOT: Hit by Restructure Blowout
-----------------------------------------
Incitec Pivot Limited (IPL) has been hit by hefty restructuring
costs worth a total of AU$57 million, according to the Sydney
Morning Herald.

The blowout also prompted IPL's major shareholder, Orica
Limited, to recognize an AU$29 million significant item for its
2004/05 results.

A series of profit downgrades has forced the fertilizer producer
to restructure in May, in a bid to strengthen its customer
service and cut costs in management and administration.

Originally, IPL said the pre-tax cost of the restructure was
likely to be about AU$25 million, plus an impact arising from a
review of assets. But on Friday, IPL advised that the
restructure cost will now be AU$57 million before tax,
comprising restructure costs of AU$37 million and AU$20 million
from the asset review.

However, the benefits from the restructure have also lifted, up
from a 2006 exit rate of AU$25 million before tax to a 2007 exit
rate of AU$30 million.

Following Incitec's announcement, Orica said it would recognize
a significant item of about AU$29 million from the restructure
in its results for the year to September 30, 2005. In addition,
Orica also said it would increase its groundwater provision for
the Botany Groundwater Project to AU$19 million.

Orica also said it was conducting a review of its organizational
structure, which would likely result in the recognition of a
significant restructuring charge in the current year.

CONTACT:

Incitec Pivot Limited
ABN 42 004 080 264
70 Southbank Boulevard
Southbank
Victoria
Australia 3006
Telephone: + 61 3 8695 4400
Facsimile: + 61 3 8695 4419
Web site: http://www.incitecpivot.com.au/


JAMES HARDIE: Premier Wants Compo Deal Finalized
------------------------------------------------
New South Wales (NSW) Premier Morris Iemma has lambasted James
Hardie Industries for making false statements about negotiations
on a final compensation deal for asbestos victims, Sydney
Morning Herald reports.

He criticized the building products manufacturer for saying a
final deal had not been reached because of new issues raised by
the Government during negotiations.

James Hardie has told the public that Government's negotiators
have deliberately delayed negotiations by introducing new issues
in draft nine of the agreement.

But Premier Iemma said James Hardie's claims are not true. He
explained the Government wanted three issues resolved before a
final agreement was reached.

James Hardie had accepted the Government's first concern - that
all victims covered by the heads of agreement which was signed
late last year were eligible for compensation.

"The second area of concern is that James Hardie is seeking to
water down measures to ensure changes to its corporate structure
will not reduce or eliminate its obligation to asbestos
victims," he said.

"The third area of concern is that James Hardie is opposed to
our measures to prevent the firm and its creditors using Dutch
or United States law to reduce or eliminate James Hardie's
obligations to asbestos victims."

Mr. Iemma is urging James Hardie to deal with issues with the
Government and finalize the agreement with the Government,
unions and victims groups.

James Hardie spokesman James Rickards said a new draft agreement
was delivered to the Government last week addressing all of Mr.
Iemma's concerns.

CONTACT:

Investor and Analyst Inquiries:

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

Media Inquiries:

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


KNOWLES INVESTMENT: Liquidator to Detail Wind Up Manner
-------------------------------------------------------
Notice is given that meetings of the members of Knowles
Investment Company Pty Limited will be held on Sept. 23, 2005,
10:00 a.m. at Level 15, 201 Sussex Street, Sydney, NSW for the
following purposes:

AGENDA

(i) To lay the Liquidator's accounts before the members
showing how the winding up was conducted and the property of the
Company disposed of, and to give any explanations as required;

(ii) Any other business.

Dated this 10th day of August 2005

Timothy J. Cuming
David C. Pratt
Liquidators
PricewaterhouseCoopers
Level 15, 201 Sussex Street
Sydney NSW 1171


LIHIR GOLD: Appoints New CEO, Assumes Independent Management
------------------------------------------------------------
PNG gold miner Lihir Gold Ltd has appointed former Placer Dome
senior executive Arthur Hood as Chief Executive Officer and has
reached agreement with Rio Tinto to conclude its long-standing
management agreement.

Lihir Chairman Ross Garnaut said Mr. Hood is the perfect
candidate for the CEO position, possessing strong leadership
skills, broad mining experience and a detailed understanding of
the operating environment in Papua New Guinea.

An engineer by profession, Mr. Hood, 52, has extensive
management experience, having held a number of senior roles at
Placer Dome since 1989. These included appointments as Managing
Director of Placer Dome Niugini, General Manager of Misima Mines
Ltd in PNG and most recently as Managing Director of Placer Dome
Tanzania Ltd. Mr. Hood has 12 years operating experience in PNG
including 5 years at the Porgera Gold Mine joining it shortly
after commissioning of Stage 1. He will take up the position
from October 1.

"Arthur is ideally qualified to take Lihir into the next stage
of its development," said Dr. Garnaut.

"The company is poised to reap the benefits of a range of
initiatives implemented by the retiring CEO Neil Swan and his
team. Under Arthur's leadership, the company will build on that
strong base to deliver increased returns to shareholders," he
said.

Dr Garnaut also announced that the step of appointing a new CEO
had provided a natural opportunity to work with Rio Tinto to
review the management arrangements for the company. Since its
formation in 1995, Lihir has been managed by a Rio Tinto
subsidiary under a management agreement. As part of that
agreement, Lihir's CEO has been seconded from Rio Tinto.

"Rio Tinto's valuable contribution, particularly during the
formative years, has enabled Lihir to establish a strong,
successful business," said Dr Garnaut.

"With Rio's help, Lihir has been firmly established as a major
gold mining company with a current market capitalization
approaching $2 billion, a growing production profile and a
skilled, experienced workforce. Over recent years, the company
has attained a high level of corporate maturity and a gradual
reduction in reliance on the relationship with Rio Tinto.

"With the imminent appointment of a new CEO, Lihir Gold worked
with Rio Tinto to review the existing management agreement.
Consequently, we have agreed to bring it to a conclusion,
coinciding with Arthur Hood taking up the role of CEO," he said.

The established practice of Rio Tinto nominating a director to
the Lihir board will be on-going, as long as it remains Lihir's
largest shareholder and its holding is at least 14%.

Rio Tinto has agreed to continue to support Lihir Gold through
its transition by providing technical and other support
services, as needed, on commercial terms.

Paul Fulton, the Chief Financial Officer, and Jan Andersen,
General Manager of Operations, who have been on secondment to
Lihir from Rio Tinto from late 2003, have agreed to transfer to
Lihir Gold.

Dr Garnaut expressed his satisfaction that the two remaining Rio
Tinto employees had decided to transfer to Lihir Gold Ltd.

"Paul and Jan have been key contributors to the improvement
initiatives and their transfer will ensure continuity of senior
management and is a strong vote of confidence in the plans and
future of the company," he said.

Mr. Hood said he was delighted to be taking the helm at Lihir at
such an important time in the evolution of the company.

"Neil Swan and his team have built a very strong platform for
growth and revenue enhancement, through initiatives such as the
installation of geothermal power, the flotation expansion, and
the development of the new Lienetz ore body," Mr. Hood said.

"I will be maintaining a strong focus on the continued
optimisation of our primary asset as well as looking for other
opportunities to enhance shareholder value," he said.

Mr. Hood will receive a remuneration package which is
commensurate with the responsibilities of the position, in line
with current market conditions and structured appropriately to
drive optimal performance.

In addition to a base salary, the package includes:

(1) annual bonus of up to 50% of base salary, with the final
payment determined by performance against hurdles set by the
Board

(2) An annual allocation of shares, with a value of up to
approximately 55% of annual base salary, with the final
allocation determined with reference to performance against a
number of targets set by the Board.

(3) Appropriate termination entitlements.

CONTACT:

Lihir Gold Limited
Papua New Guinea
Head Office
Level 7, Pacific Place
Cnr. Champion Parade & Musgrave Street
Port Moresby
Phone:  (+675) 321 7711
Fax:  (+675) 321 4705

Australia
Level 14, 12 Creek Street
Brisbane
Queensland 4000
Phone: (+617) 3229 5483
Fax: (+617) 3229 5950
E-mail: Joe.Dowling@lihir.com.pg
Web site: http://www.lihir.com.pg


MILLCRIST EMPLOYMENT: Members Pass Winding Up Resolution
--------------------------------------------------------
Notice is hereby given that at a general meeting of members of
Millcrist Employment Services Pty Limited held on Aug. 17, 2005,
it was resolved that the Company be wound up voluntarily, and
that Schon G. Condon and Bruce Gleeson of Jones Condon Chartered
Accountants, Level 1, 34 Charles Street Parramatta NSW be
appointed Joint Liquidators for such winding up.

Dated this 19th day of August 2005

Schon G. Condon
Bruce Gleeson
Joint Liquidators
c/o Jones Condon
Chartered Accountants
Phone: 02 9893 9499


NATIONAL AUSTRALIA: Staff Goes Back to School
---------------------------------------------
National Australia Bank is looking to put its staff through
updated training programs and dress them in revamped uniforms,
ahead of a planned expansion in New South Wales (NSW), the
Sydney Morning Herald relates.

The embattled bank, which holds the second lowest rating in
customer satisfaction, is stepping up efforts to improve
customer service and boost sales.

However, NAB's head of retail banking Andre Thorburn admitted
the bank still has a long way to go since recovery of the retail
bank is expected to take three more years.

NAB has also decided to do its own recruiting and training,
instead of outsourcing it to a consultant and is in the middle
of appointing 70 new regional managers, who will be paid a
performance bonus based on profit results as well as staff
engagement and customer satisfaction levels.

More details would be given at the bank's strategy briefing
Wednesday next week.

CONTACT:

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


OLSSON CONSTRUCTIONS: Court Appoints Official Liquidator
--------------------------------------------------------
On Aug. 16, 2005, the Supreme Court of New South Wales appointed
David Young of Pitcher Partners, Level 3, 60 Castlereagh Street,
Sydney NSW to be Official Liquidator for the winding up of
Olsson Constructions Pty Limited.

David G. Young
Liquidator
Pitcher Partners
Level 3, 60 Castlereagh Street
Sydney NSW


PORQUE PTY: Members, Creditors to Convene to Discuss Wind Up
------------------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Porque Pty Limited will be held on Sept. 23, 2005,
9:30 a.m. at the offices of Bent & Cougle Chartered Accountants,
Level 5, 332 St. Kilda Road, Melbourne, Vic 3004.

BUSINESS:

To receive the Liquidator's accounts.

Dated this 9th day of August 2005

K. L. Sutherland
Liquidator
Bent & Cougle
Chartered Accountants
Level 5, 332 St Kilda Road
Melbourne Vic 3004


SOFTWARE TESTING: Winding Up Process Initiated
----------------------------------------------
Notice is hereby given that at a general meeting of the members
of Software Testing Solutions Pty Limited held on Aug. 19, 2005,
it was resolved that the Company be wound up voluntarily, and
that Michael Edward Slaven of Rangott Slaven Hundy, Level 3,
Engineering House, 11 National Circuit, Barton ACT 2600 be
appointed Liquidator for such purpose.

Dated this 30th day of August 2005

Michael E. Slaven
Rangott Slaven Hundy
Level 3, Engineering House
11 National Circuit, Barton ACT 2600


SONS OF GWALIA: Shareholders Score Major Victory
------------------------------------------------
Thousands of shareholders of failed gold miner Sons of Gwalia
Limited finally took a breath of relief after the Federal Court
handed down a decision in their favor, The Age says.

A Federal Court Judge last week ruled that the shareholders are
entitled to a share of the carve-up of Gwalia's over AU$500-
million assets.

In a test case, Justice Arthur Emmett ruled that Gwalia
shareholders that were victims of misleading and deceptive
conduct could rank alongside the group's creditors.

The decision is expected to create a huge blowout in creditors
claims against the miner beyond the current AU$1 billion
estimate. Administrators from Ferrier Hodgson have found that
the market might not have been properly informed about the
company's affairs for at least four years before its collapse a
year ago.

Until Thursday last week, shareholders faced getting no payout
from the carve-up of the once-great gold and tantalum miner's
assets as all shareholder equity had been gobbled up by big
losses in gold and foreign currency hedging plays.

The Gwalia case also indicates that investors who bought shares
in an uninformed market may have an action against the company,
whereas investors who bought directly from a prospectus are
likely to be left out in the cold.

A group of overseas creditors, including arbitragers who had
bought hedge contracts at discounts after the company's
collapse, have been pushing for the shareholders to be excluded
from the proceeds of the sale this year of the gold assets and
the planned restructure or sale of the operating tantalum
assets.

Sons of Gwalia co-administrator Darren Weaver, who ran the
Gwalia test case in the Federal Court in Sydney, said he would
appeal against the Federal Court's decision and ultimately in
the High Court because of the importance to the Sons of Gwalia
administration and corporate life in Australia generally.

CONTACT:

Sons of Gwalia Limited
16 Parliament Place
West Perth, Western Australia 6005
Australia
Phone: +61 8 9263 5555
Fax: +61 8 9481 1271
Web site: http://www.sog.com.au/


SYMMONS PLAINS: Enters Liquidation
----------------------------------
Notice is hereby given that at a General Meeting of Members of
Symmons Plains Pastoral Holdings Pty Limited held on Aug. 19,
2005, members passed a Special Resolution to voluntarily wind up
the Company, and appointed Donald Hugh McKenzie to be Liquidator
of the Company.

Dated this 19th day of August 2005

Donald H. McKenzie
Liquidator
C/o KPMG
Level 2, 33 George Street
Launceston, Tasmania 7250


TRIME PTY: Pays Out Dividend
----------------------------
Trime Pty Limited will declare a first and final dividend on
Sept. 20, 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

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


TYSON HOLDINGS: Shuts Down Business
-----------------------------------
Notice is hereby given that at a General Meeting of Tyson
Holdings held on Aug. 15, 2005, it was resolved that the Company
be wound up voluntarily as a Members' Voluntary Winding up, and
That John Alexander Woodhouse be appointed Liquidator for such
purpose.

Dated this 18th day of August 2005

John A. Woodhouse
Liquidator
96 Chelmer Street West
Chelmer Qld 4068


VILLAGE LIFE: Welcomes New Chief Property Officer
-------------------------------------------------
Village Life Limited, Australia's largest commercial provider of
rental accommodation for seniors, on Friday announced the
appointment of Stuart Lummis to the position of Chief Property
Officer. In the newly established position, Mr. Lummis will
oversee the developments planning and strategic acquisition
activities within Village Life's property development division.

Prior to accepting the role of CPO, Mr. Lummis served as
Development and Structures Finance Manager for Leighton
Contractors Queensland since 2000, in which he was responsible
for managing Leighton's direct equity investment development
projects.

In his new position, Mr. Lummis will be based at the Company's
Brisbane head office where he will manage the Company's existing
property portfolio comprising 79 villages across five states as
well as oversee the roll out of the Village Life pipeline of
properties.

Mr. Lummis' impressive property career includes a lengthy term
as Group Executive and Business Development Manager with Bovis
Lend Lease where he was charged with fulfilling the Company's
contractual construction obligations to the Department of
Defence.

Mr. Lummis also gained considerable asset planning, feasibility
and financial management experience during his five-year tenure
with the Advance Bank Australia Limited (now St. George Bank
Limited) in the role of Chief Manager, accumulating an aggregate
of skills anticipated to be appropriately leveraged in his role
at Village Life.

"The position of CPO is one of significant responsibility and we
are confident that Stuart will bring a new level of
professionalism to our property development program," said
Chairman, Greg Gardiner.

Mr. Lummis assumes the position of CPO effective October 3,
2005.

CONTACT:

Village Life Limited
61 Park Road (PO Box 1162)
Milton Queensland 4064 Australia
Telephone: +61 7 3514 6400
Facsimilie: +61 7 3514 6497
Web site: http://www.villagelife.com.au/


WA LA HAWKINS: Creditors Confirm Liquidator's Appointment
---------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Wa La Hawkins Transport Pty Limited held on Aug.
19, 2005, it was resolved that the Company be wound up
voluntarily, and creditors appointed Robert M. H. Cole of Cole
Downey & Co. Chartered Accountants, Unit 2, 6 Moorabool Street,
Geelong Vic 3220 at a creditors' meeting later that day.

Dated this 23rd day of August 2005

Robert M. H. Cole
Liquidator
Cole Downey & Co.
Chartered Accountants
Unit 2, 6 Moorabool Street
Geelong Vic 3220


W & W TINYTOW: Set to Pay Dividend to Creditors
-----------------------------------------------
W & W Tinytow Pty Limited will declare its first and final
dividend on Sept. 20, 2005.

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

Dated this 16th day of August 2005

Frank Lo Pilato
Liquidator
C/o RSM Bird Cameron Partners
Chartered Accountants
GPO Box 200, Canberra ACT 2601
Phone: 02 6247 5988


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

BANK OF CHINA: To Open 16 More Branches in Mainland
---------------------------------------------------
The Bank of China (BOC) has decided to open 16 more branches in
the Chinese mainland to carry out express remittance business
with BOC Hong Kong starting from September 15, according to Asia
Pulse.

BOC launched the service in November 2002 in which seven
mainland branches in Beijing, Shanghai, Zhejiang, Jiangsu,
Guangdong and Shenzhen, its business department at the head
office, and the BOC Hong Kong primarily took part.

The service allows money remitted from abroad to arrive at a
bank account within one day.

CONTACT:

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


DAIMLERCHRYSLER AG: To Manufacture 300 Sedans in China
------------------------------------------------------
DaimlerChrysler AG, the first overseas carmaker to invest in
China, will manufacture Chrysler 300 sedans in the country,
using one of its best-selling models to take on General Motors
Corp.'s Buick and Volkswagen AG's Audi, Bloomberg News reports.

Details of the plan will be released on September 16 in Beijing,
said Jason Vines, a spokesman for the Auburn Hills, Michigan-
based Chrysler Group.

In a company statement, DaimlerChrysler Financial Services, the
Financial Services Company of the DaimlerChrysler Group,
received permission to establish a financing company in China by
the China Banking Regulatory Commission (CBRC) according to
schedule.

The new company, DaimlerChrysler Auto Finance (China) Ltd., will
be the first captive financing company in China to offer a broad
product portfolio of dealer and customer financing, insurance
services for passenger cars, and financial services for
commercial vehicles. The company will have its headquarters in
Beijing, start with some 50 employees, and is set to conclude
about 3,000 financing contracts in 2006.

CONTACT:

DaimlerChrysler AG
70546 Stuttgart
Germany
Phone: +49 711 17 0
Fax: +49 711 17 22244


DAIMLERCHRYSLER AG: Signs Hybrid Agreement With GM
--------------------------------------------------
The BMW Group, DaimlerChrysler AG and General Motors Corporation
has signed a "memorandum of understanding" governing the
formation of an alliance of equals for the joint development of
hybrid drive systems. The three global automakers are
cooperating in order to pool their expertise for the accelerated
and efficient development of hybrid drive systems.

Objective: Development of a two-mode hybrid drive system

The objective is to jointly develop a two-mode hybrid drive
system that reduces fuel consumption while not compromising
vehicle capability. While the base two-mode hybrid design will
be common, each company will individually integrate the hybrid
system into the design and manufacturing of vehicles in
accordance with their brand specific requirements.

"The participation of the BMW Group has allowed us to gain
another expert partner for the development of this advanced two-
mode hybrid system," says Tom Stephens, Group Vice President at
GM Powertrain. "This cooperation paves the way for extensive
hybrid collaboration among the three companies. We also continue
to discuss additional partners for this alliance."

"By pooling the development expertise of the three automakers -
BMW Group, DaimlerChrysler and General Motors - we are making it
possible for all companies to bring to market appealing vehicles
with convincing performance, comfort and environmental features
for the benefit of our customers," says Dr. Thomas Weber,
DaimlerChrysler Board of Management member responsible for
Research and Technology as well as for Development at the
Mercedes Car Group.

"The creation of a shared technology platform for hybrid drives
will allow us to more quickly integrate the best technologies on
the market and will therefore exploit and strengthen the
innovative potential of all participating companies," explains
Prof. Burkhard G”schel, Board of Management member for
Development and Procurement at BMW AG. "Because the technologies
will be adapted to the individual vehicle models, the
participating brands will retain their distinctive characters."

Joint development center

In Troy, Michigan, the new "GM, DaimlerChrysler and BMW Hybrid
Development Center" will develop the overall modular system and
the individual components: electric motors, high-performance
electronics, wiring, safety systems, energy management, and
hybrid system control units. In addition, the Hybrid Development
Center will be responsible for system integration and project
management.

A key factor in ensuring optimum development is the focus on a
high bandwidth architecture system that can be adapted to the
needs of the various vehicle concepts and brands. The extensive
sharing of components and production facilities, and the
collaborative relationship with suppliers will enable the
alliance partners to achieve significant economies of scale and
associated cost advantages, which will also benefit customers,
thanks to an outstanding cost-to-performance ratio.

The two-mode concept

Two-mode hybrid technology further enhances the performance,
fuel efficiency and range of conventional hybrid drive vehicles.
In city driving and in stop-and-go traffic, the vehicles can be
powered either by two electric motors or by the combustion
engine, or the two drive systems can be used simultaneously.
Regardless of which type of operation is chosen, the drive
system's fuel saving potential is exploited to maximum effect.

When traveling at high speeds, for example on rural roads and
highways, the two-mode system switches to a different driving
mode. The two-mode system provides a number of benefits even
when driving at such constant speeds. Because the hybrid drive's
full power is available when climbing steep inclines, passing
other cars or hauling a trailer, fuel consumption can be reduced
and performance increased even when operating in the second
driving mode.

GM and DaimlerChrysler signed binding, definitive agreements on
August 22, 2005. BMW Group signed a "memorandum of
understanding" with the intent to enter into a definitive
agreement with GM and DaimlerChrysler later this year.

This is a company press release.


DIGITEL GROUP: Faces Delisting if No Viable Proposal Filed
----------------------------------------------------------
Digitel Group has received a letter from the Hong Kong Stock
Exchange that the bourse plans to exercise its right to cancel
the listing of the company on the expiry of the six months
period on March 8, 2006, if it cannot submit a viable resumption
proposal at least 10 business days prior to the expiry date,
Infocast News reprots.

The company stated that, as at present it has not submitted a
viable resumption proposal to the Listing Division of the Stock
Exchange.

Trading in the shares of the company will remain suspended until
further notice.

CONTACT:

Digitel Group Limited
Room 3810-11, 38/F
West Tower, Shun Tak Centre
168-200 Connaught Road Central
Hong Kong
Phone: 31925678
Fax: 31925688
Web site: http://www.digitelgroup.com


GA CONSULTANCY: Winding Up Hearing Slated for November 23
---------------------------------------------------------
Notice is hereby given that the Winding up of GA Consultancy
Limited by the High Court of Hong Kong Special Administrative
Region was on August 18, 2005 presented to the said Court by C.
M. Wong & Associates Limited whose registered office is situate
at Room 1104, Universal Trade Centre, 3-5A, Arbuthnot Road, Hong
Kong.

The said Petition is directed to be heard before the Court at
The High Court Building, No. 38 Queensway, Hong Kong at 9:30
a.m. on November 23, 2005.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose; and a copy of the petition will be furnished to
any creditor or contributory of the said company requiring the
same by the undersigned on payment of the regulated charge for
the same.

HO AND WONG
Solicitors for the Petitioner
Rooms 1408-1411, 14th Floor
China Merchants Tower
Shun Tak Centre
168-200 Connaught Road Central
Central, Hong Kong

Note: Any person who intends to appear on the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 22, 2005.


GUANGDONG KELON: Police Busts Ex-chairman
-----------------------------------------
Guangdong Kelon Electrical Holdings Co. Ltd. said Friday that
local police arrested its former Chairman Gu Chujun and several
officials earlier on September 2, according to Reuters.

It provided no further details on the case involving the
company. The Securities Times said Mr. Gu was suspected of
misusing company funds and dressing up the accounts.

Kelon incurred a first half loss of CNY434.55 million, versus a
net loss of CNY64.17 million last year. ($1=8.075 Yuan)

CONTACT:

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


LUENROY LIMITED: Schedules Winding Up Hearing October 26
--------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Luenroy Limited, whose registered office is situate at Flat B,
17/F., Block 1, Hillville Terrace, 28 Tin Kwong Road, Kowloon by
the High Court of Hong Kong Special Administrative Region was on
August 18, 2005 presented to the said Court by Bank of China
(Hong Kong) Limited (the successor banking corporation to
Kincheng Banking Corporation pursuant to Bank of China (Hong
Kong) Limited (Merger) Ordinance (Cap.1167) whose registered
office is situated at 14th Floor, Bank of China Tower, 1 Garden
Road, Hong Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on October 26, 2005.

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

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

MESSRS. DEACONS
Solicitors for the Petitioner
5th Floor, Alexandra House
18 Chater Road
Central, Hong Kong

Note: Any person who intends to appear on the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of the 25th day of
October 2005.


SHENZHEN BICYCLE: Notes Unusual Share Price Hikes
-------------------------------------------------
The share price of Shenzhen China Bicycle Company (Holdings)
Limited has been fluctuating roughly lately, and it has hit the
upper-limit on daily price fluctuations in the late three
consecutive days, Panorama reports.

After consulting the company's controlling shareholder and
management team, the company claims that there is no information
that should be disclosed left unrevealed, and it is in business
and operation as usual.

According to the South China Morning Post, at the end of 2004,
China Bicycle had CNY954.5 million of long-term debt, including
CNY721.6 million owed to Huarong. Its long-term bank debt
totaled CNY532.8 million while it had negative shareholder
equity of CNY1.69 billion.

China Bicycle, founded in 1985, has a production capacity of
more than three million bicycles.

CONTACT:

Shenzhen China Bicycle Company (Holdings) Limited
No 3008 Buxin Road
Shenzhen, Guangdong Province 518019
CHINA
Phone: +86 755 2551 6998
Fax: +86 755 2551 6620
Web site: http://www.cbc.com.cn


=========
I N D I A
=========

MIRC ELECTRONICS: Fitch Withdraws 'F1+(ind)' Rating
---------------------------------------------------
Fitch Ratings, the international rating agency, on Friday
withdrew the 'F1+(ind)' rating of the INR200 million Commercial
Paper/ Short-Term Debt Programme of Mirc Electronics Limited
("Mirc") which had been placed under Rating Watch Evolving on 6
April 2005.

Fitch had placed the ratings on watch following its in-principal
approval of an amalgamation with Onida Savak Ltd (OSL). OSL is a
loss making concern, and is currently governed by the Board for
Industrial and Financial Reconstruction (BIFR).

However, the requisite regulatory approvals are yet to be
obtained for the merger. In the interim, the rated instrument
has matured and been paid in full on the due date. Mirc has
confirmed that there are no further repayments outstanding under
the rated instrument.

CONTACT:

Mirc Electronics Limited
Mahakali Caves Road Andheri (East)
Mumbai, MAHARASHTRA 400 093
INDIA
Phone: +91 22 2837 5561/62/63
Fax: +91 022 8315803


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

CITRA MARGA: UBS Unit Buys 15% Stake
------------------------------------
In a report to the Jakarta Stock Exchange, toll road operator PT
Citra Marga Nusaphala Persada (CMNP.JK) said that a Singapore
unit of investment bank UBS AG bought a 15.49% stake in the
Company, reports Dow Jones.

Citra Marga director I Ketut Mardiana said that UBS bought
327.28 million of the Company's shares on the open market last
week for investment by an nunamed client. Mr. Mardiana also
didn't disclose the purchase price of the shares.

UBS currently holds a 16.36% stake in Citra Marga on behalf of
the client.  The Company is 55.1% owned by the public.

According to analysts, the government's plan to develop its
infrastructure would greatly benefit the Company. The government
needs to invest up to USD150 billion to develop its local
infrastructure.

In September 2002, the Company initiated a corporate
restructuring as a part of its transformation process towards a
more streamlined structure supporting the new goal of
`infrastructure solution enterprise' by upholding the aspect of
efficiency, effectiveness and preserve the sustainability of the
Company in the 21st century. The in-depth examination course of
action resulted in the Management developing a long-term
business objective for the next 25 years, in line with the new
company mission of becoming one of the reputable infrastructure
companies with a wider product scope to include
telecommunications, transportation, properties, roads,
pipelines, electricity, dam, oil and gas etc.

As a forward step the company has formed two subsidiaries PT.
Global Infrastruktur Investindo specifically for toll road
investments and PT. Global Network Investindo for infrastructure
investments outside the toll road construction.

CONTACT:

PT Citra Marga Nusaphala Persada Tbk
Citra Marga Building
Jl. Angkasa No. 20, Kemayoran
Jakarta 10610
Phone: 62 21 4288 5282
Fax:   62 21 4288 5281
Email: cmnp@citra.co.id
Web site: http://www.cmnp.co.id/


PERTAMINA: Delays Signing Cepu Deal with ExxonMobil
---------------------------------------------------
State oil firm PT Pertamina has postponed the signing of an
agreement to develop an oil block in Cepu with U.S. oil firm
ExxonMobil Corp.due to a disute over who would operate the oil
field, Bloomberg News reports.

Contrary to earlier reports that the government was to sign a
final agreement with ExxonMobil, Pertamina spokesman Mohamed
Harun said that this week's planned signing of the Cepu block
agreement was impossible, as there were still issues that needed
to be resolved.

The plan was for ExxonMobil, who is currently operating the Cepu
block, to extend its contract for another 30 years, instead of a
scheduled end of contract by 2010. ExxonMobil discovered
additional oil reserves in the Cepu block, which could
contribute significantly to the country's oil output, which has
been gradually declining in recent years.

According to Mr. Harun, Pertamina doesn't want ExxonMobil to
operate the Cepu block, as it wants to develop the IDR26.32
trillion project. The government said that the Cepu block could
begin production in 2008.

CONTACT:

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


PERTAMINA: Supply Hike Insufficent to Meet Domestic Demand
----------------------------------------------------------
State-owned oil and gas firm PT Pertamina has increased the
domestic fuel supply quota by 10,000 kiloliters (kl), from
184,000 kl per day to 194,000 kl per day, but people are still
lining up at gasoline and kerosene stations throughout the
country, reports the Jakarta Post.

Pertamina marketing & trading director Ari Soemarno denies that
there is a fuel supply shortage, as the Company has been
supplying 184,000 kiloliters of fuel per day since January, but
demands continues to increase, hence the long queues. Pertamina
cannot increase supply further to meet domestic market demand,
since doing so would go beyond its annual 59.6 million kiloliter
quota.

Fuel hoarding by distributors and people buying subsidized fuel
intended for distribution to industries has prompted President
Susilo Bambang Yudhoyono to instruct Pertamina to sell gasoline
directly to retailers and not pass through distributors anymore,
as well as to increase fuel supply.

Pertamina also has to deal with recent cases of smuggling
operations, and has dismissed several low-ranking employees and
a unit head for their alleged involvement in a fuel smuggling
ring.

State Minister of National Development Planning Sri Mulyani
Indrawati said that the government may increase fuel prices by
at least 50% next month, in order to reduce the country's budget
deficit. Afterwards, fuel prices would be raised gradually for
the next 36 months to cover costs.

The fuel subsidy cut would go to assist low-income families,
with the government distributing IDR100,000 for each poor family
eligible to receive the funds under the Central Statistics
Agency (BPS). The government has already set aside IDR4.8
trillion in financial assistance this year.


PERTAMINA: Targets Oil Output Increase by 2008
----------------------------------------------
State oil company PT Pertamina aims to increase its crude oil
production from last year's 141,839 barrels per day to 170,318
barrels per day by 2008, Asia Pulse reports.

To achieve this goal, the Company plans to develop more
exploration wells and optimize its exisiting oil wells in the
upper sector. The Company also plans to increase its natural gas
and geothermal production by 2008.

Pertamina has implemented efficient and effective programs as
well as intensify its activities in order to develop its upper
operational sector. It also plans to evaluate and reasses
assets, make use of new technology and reactivate its non-active
assets in order to optimize the mamagement of its operational
areas.

According to Pertamina's exploration division chief Bambang
Tjiptadi, the Company's upper operational sector was not in good
shape as its 62 exploration prospects were limited to 3.62
million barrels in resource capacity. 84% of the prosepects were
estimated to produce less than 50 million barrels, averaging 17
million barrels per prospect. Pertamina only has nine prospects
that could produce over 100 million barrels each.

Pertamina is looking into the possibility of exploration in
countries such as Malaysia and North Africa.


PERTAMINA: To Explore Four Gas Wells This Year
----------------------------------------------
Satate oil and gas firm PT Pertamina is set to explore four gas
wells located in East Java and Sumatra by the end of the year,
reports Asia Pulse.

Pertamina exploration division chief Bambang Tjiptadi hopes that
the Company may find more gas reserves in these wells, as doing
so would  connect the gas distribution system between East and
West Java. The oil wells are classified as "wild cat" wells
since they have remained untouched.

The Company has yet to give a rough estimate on how much output
the gas wells could produce, and proected investment costs are
not available as yet, though Mr. Tjiptadi said investment in a
gas well exploration could cost more than IDR10.15 billion.

Pertamina is scheduled to conduct more "wild cat" gas well
explorations in East and West Java, as well as in Sumatra, next
year.


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

DELPHI CORPORATION: Enters Diesel Contract With Hyundai
-------------------------------------------------------
Hyundai and Kia Motors have selected Delphi Corp. to supply Euro
V diesel common rail system on two engine families.

Delphi will supply the pump, injectors, rails and electronic
control unit to help Hyundai-Kia meet Euro V emission standards.
Further details of the contract are kept confidential at the
customer's request.

The new business affirms Delphi's growing relationship with
Hyundai-Kia in diesel technologies. Delphi has been supplying
them common rail systems since 2001. From early 2006, Delphi
will begin supplying Hyundai-Kia with Euro IV-compliant Multec
diesel common rail systems.

"As Hyundai-Kia strives to elevate its brand value to the level
of the world's elite auto manufacturers, technology such as
Delphi's common rail system can help the company differentiate
its powertrain," said Guy C. Hachey, president, Delphi Energy &
Chassis.

"We've been supplying diesel common rail technology to Hyundai-
Kia since 2001, and have worked diligently to maintain and grow
our relationship," Hachey said. "This is an exciting program for
Delphi. We are committed to helping solve fuel economy and
emission challenges for our customers. This application helps
validate our capability and further secures our place among the
top global diesel suppliers."

Delphi will assemble the common rail systems for Hyundai-Kia
locally in the future.

"Last year we initiated a plan to further expand our diesel
presence in Asia-Pacific," said Peter Lakin, business line
executive Delphi Diesel Systems. "We have and will continue to
expand technical centers, open new facilities and add additional
staff throughout the region in anticipation of programs such as
this recent win with Hyundai-Kia. I'm confident our diesel team
will exceed our customer's expectations and further help
Hyundai-Kia penetrate the diesel market," Lakin said.

Delphi's diesel common rail system provides higher injection
pressures, improved nozzle design, superior hydraulic stability
and enhanced software strategies versus other available systems.
Delphi's diesel common rail delivers more complete combustion
and provides more accurate control of very small volumes of
fuel, introducing the option of up to five injection events.

Delphi's diesel engine management system portfolio includes:

1) Fuel injection systems (common rail, rotary injection system,
electronic unit injection systems,and electronic unit pump
systems);

2) Engine Control Units (ECUs); air management systems (exhaust
gas recirculation valves, sensors);

3) Exhaust aftertreatment systems (catalysts).

Delphi's Common Rail technology already has attracted
substantial business with customers such as DaimlerChrysler
(Mercedes), Renault-Nissan, PAG (Ford, Jaguar), Ssangyong, PSA
Peugeot Citroen, Tata Motors, Suzuki/Santana, Hyundai Motor
Corporation, as previously announced, and three other
undisclosed customers. Delphi is the world's second leading
provider of diesel common rail systems. In 2004, Delphi's Diesel
sales totaled approximately $1.5 billion.

For more information about Delphi, visit Delphi's Virtual Press
Room at http://www.delphi.com/media.

CONTACT:
Sandrine Fallet-Duga (France),
Phone: +33-1-4990-4656,
E-mail: sandrine.fallet.duga@delphi.com
Web site: http://www.delphi.com/media/


HITACHI LIMITED: Intends to Pay Interim Dividend December 2005
--------------------------------------------------------------
Hitachi Limited, in a press release, decided on the interim
dividend for the fiscal year ending March 31, 2006, at a Board
of Directors meeting convened on September 15.

Interim dividend for the fiscal year ending March 31, 2006: 5.5
yen per share*

"The Company intends to pay interim dividend on December 1,
2005.

Reference: Dividends paid for the fiscal year ended March
31,2005

Interim dividend: 5.5 yen per share
Yera-end dividend: 5.5 yen per share

About Hitachi Ltd.

Hitachi Ltd, headquartered in Tokyo, Japan, is a leading global
electronics company with approximately 347,000 employees
worldwide. Fiscal 2004 (ended March 31, 2005) consolidated sales
totaled 9,027.0 billion yen ($84.4 billion). The company offers
a wide range of systems, products and services in market sectors
including information systems, electric devices, power and
industrial systems, consumer products, materials and financial
services.

CONTACT:

Hitachi Limited
6-6 Marunouchi 1-Chome
Chiyoda-Ku 100-8280, Tokyo 101-8010
Japan
Phone: +81 3 3258 1111
Fax: +81 3 3258 5480
Web site: http://www.hitachi.com


JAPAN AIRLINES: Teams Up With Langham Hotels
--------------------------------------------
Langham Hotels International (LHI) will enter a joint venture
with Japan Airlines (JAL) to offer value-added frequent flyer
mileage benefits for members who stay at LHI's worldwide hotels
portfolio, reports ASIATravelTips.com.

Under the new partnership, over 17 million JAL Mileage Bank
(JMB) members can earn mileage benefits when staying in any of
the hotels under LHI in five gateway cities across the four
continents, namely London, Boston, Hong Kong, Melbourne and
Auckland. JMB members can receive 500 miles per stay at Langham
Hotels and 300 miles per stay at The Eaton Hotel, Hong Kong.

LHI now has nine partnerships with leading airlines, bringing
the total number of Frequent Flyer Programme members able to
earn mileage benefits at our hotels to over 60 million
worldwide.

CONTACT:

Japan Airlines Corporation
Telephone: 81-3-5460-3109
Fax: 81-3-5769-6487
Web site: www.jal.com/en/corporate


JAPAN AIRLINES: JCR Downgrades Rating to BB+
--------------------------------------------
Ratings and Investment Information, Inc. (R&I) has removed the
ratings of Japan Airlines from the Rating Monitor and has
downgraded them to BB+ from BBB-.

Recovery of the fragile financial base of the Japan Airlines
(JAL) group has been a pressing issue but with crude oil prices
running at an all time high, the operational environment is
growing more severe. Frequent problems involving the safety of
its services have also had a negative impact on the operational
base. R&I believes that a worsening of the earnings structure
beyond what was previously anticipated has increased the
fragility of the financial base and has consequently downgraded
the Issuer Ratings for both Japan Airlines International (JALI)
and holding company Japan Airlines Corp. (JAL) to BB+. R&I
accordingly assigned the bonds here a BB rating, reflecting the
issue's one notch subordination in recovery risk.

With continuing high effective debt including lease liabilities
and weak equity capital, the financial resilience of the JAL
group has slipped considerably. In spite of revamping its income
and expenditure structure by instituting a series of cost
cutting measures and increases in transport unit prices, surges
in fuel costs and sluggish customer demand have put severe
pressure on earnings, resulting in a situation where maintaining
balanced conditions is difficult.

Concern that frequent problems dogging the airlines will
restrict growth in earnings from increased customer demand in
the medium term cannot be swept aside either. The operational
environment cannot be viewed with optimism and there is a
possibility that the worsening conditions of the earnings
structure will result in further deterioration of the financial
base in the future. Further bolstering the existing resilience
of the company's ledger and recovery of the financial base are
issues that need to be addressed. The airlines group has
initiated a number of measures to cut costs and reinforce safety
controls and R&I will pay attention to future outcomes.

The JAL group companies, including holding company JAL which is
responsible for the critical functions of the group, share a
strong unity. Furthermore, both JALI and JAL Japan have given
joint and several guarantees for new bonds issued by JAL. On the
basis of these factors, R&I placed the Issuer Ratings of both
holding company JAL and core operating subsidiary JALI as being
on the same level and downgraded their Issuer Ratings
simultaneously. Another factor of consideration is the
significant amount of securitized loans the group carries. In
addition to adjusting both Issuer Ratings downward, R&I deemed
it appropriate to assign a BB rating to the bonds issued jointly
by both companies to reflect their one notch subordination.


JAPAN BROADCASTING: To Trim Jobs by 10%
---------------------------------------
Japan Broadcasting is finalizing plans to slash its workforce by
1,200 over a three-year period starting next year due to a
higher-than-expected rise in the number of viewers refusing to
pay fees, the Nihon Keizai Shimbun reported Friday.

NHK has been hit by a series of embezzlement scandals involving
its employees. As a result, about 113,000 households had refused
to pay viewing fees as of the end of November last year.

The number of viewers refusing to pay fees has shot up to 1.17
million as of July 31, as the broadcaster struggled to cope with
a series of scandals involving its employees.

CONTACT:

Japan Broadcasting Corporation (Nippon Hoso Kyokai)
2-2-1, Jinnan, Shibuya-ku
Tokyo, 150-8001, Japan
Phone: +81-3-3465-1111
Fax: +81-3-3469-8110
Web site: http://www.nhk.or.jp


KANEBO LIMITED: To Quit Resin Business
--------------------------------------
Kanebo Limited will close its polyester resin business by
selling its resin-manufacturing unit to Mitsubishi Chemical
Corporation at the end of this month, Kyodo News reports.

Kanebo, which is in rehabilitation under the state-run
Industrial Revitalization Corp of Japan, will sell Osaka-based
Kanebo Gohsen Limited to the chemical company.

CONTACT:

Kanebo Limited
Fukuoka, Sapporo
3-20-20 Kaigan Minato Tokyo
108-8080 Japan
Web site: http://www.kanebo.co.jp/english/Index.htm


SOFTBANK CORPORATION: Posts Changes in Company Ownership
--------------------------------------------------------
Softbank Corporation reported estimated dilution gain from
changes in equity interest due to the new share issuance for a
third party by SBI Holdings, Inc. (Head Office: Minato-ku,
Tokyo; Representative: Yoshitaka Kitao), affiliated company
under the equity method of the Company.

1. Outline of the new share issuance for a third-party

   Issue price: 37,069 yen per share

   Number of newly issued shares: Common shares 347,861 shares

   Allottee: ZEPHYR Co., Ltd

2. Change in share ownership by SOFTBANK Group due to new share
issuance

      Share ownership         Number            Number of total
          ratio                           outstanding shares
                       of shareholdings*

Before new share issuance (as of July 31, 2005)
      37.69%         3,245,811.21 shares   8,611,628.06 shares

After new share issuance (estimated as of September 29, 2005)

      36.23%         3,245,811.21 shares   8,959,489.06 shares

* Note: Indirect holdings through SOFTBANK AM CORPORATION.
(wholly owned subsidiary)

3. Effect on consolidated financial results

Due to the new share issuance for a third party, the Company is
expected to be recognized approximately 2.8 billion yen in
dilution gain from changes in equity interest as the Company's
special profit on a consolidated base in the 2nd quarter for the
fiscal year ending March 31, 2006.


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


SONY CORPORATION: Clarifies Financial Unit Sell-off
---------------------------------------------------
The Nihon Keizai Shimbun reported on Friday that Sony
Corporation is considering a sell-off of its financial unit,
Sony Financial Holdings. This report is mistaken.

Sony has already announced that it is considering the
possibility of an IPO for Sony Financial Holdings (established
in April 2004.) This position has not changed. There is also
currently no plan to additionally dispose of SFH shares after an
IPO. We regret that the article gave the impression that we are
presently planning to sell off our financial units.

The article also stated that Sony is considering selling its
stake in SKY Perfect Communications Inc. There is currently no
plan to do so.

Sony Corporation will hold its Corporate Strategy Meeting on
September 22 and will give details on its plans for individual
business sectors. We have no comment on the other details, which
appear in the article

This is a company press release.

CONTACT:

Sony Corporation
6-7-35 Kitashinagawa, Shinagawa-ku,
Tokyo 141-0001, Japan


* Teikoku Unveils 754 Corporate Bankruptcies in August
------------------------------------------------------
Corporate bankruptcies in Japan totaled 754 cases in August, up
11.7 percent from the previous month, Jiji Press reports, citing
the Teikoku Data Bank Ltd.

The number exceeded 700 for the first time in two months. Debts
left by the failed firms totaled JPY328,053 million, down 21.4
percent, falling below JPY400 billion for the first time in four
months.

Six of the seven industry sectors covered by the survey saw
month-on-month rises in the number of bankruptcies. In the
services industry, the number of bankruptcies increased 37.6
percent to 117 cases.

The survey covered corporate bankruptcies involving debts of 10
million yen or more.


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

CITIBANK KOREA: VP Relocated to Singapore
-----------------------------------------
Citibank Korea Inc. vice president and head of consumer finance
will be relocated to Citibank's Singapore office, JoongAng Daily
reveals.

The transfer was made eight weeks after the Korean arm of the
bank's labor union sued Vice President Richard Jackson for
overcharging housing loan applicants for more than two years.

On July 19 the bank's labor union filed a lawsuit against
Citibank Korea and Mr. Jackson for allegedly gaining a profit of
more than KRW7.4 billion by charging fixed interest rates on
what were supposed to be floating-interest rate loans.

The suit claimed that from the end of 2002 till March 2005 the
bank charged customers flat rates that were higher than the
prevailing floating rates.

According to Citibank Mr. Jackson will be sent to the Singapore
office because the area's previous finance chief recently moved
to another office.  Mr. Jackson's new duty will take effect
October 1.

"Mr. Jackson is expected to leave Korea in early October after
attending the national hearing in which he is scheduled to
testify," a Citibank representative said. Mr. Jackson was
summoned to testify on September 27 at a National Assembly
hearing to investigate allegations that the bank cheated
applicants for housing loans.

CONTACT:

Citigroup PAO Office
Citibank Korea Inc.
39, Da-Dong, Chung-gu
Seoul, Korea 100-180
Telephone: 82-2-3455-2114
Fax: 82-2-3455-2966

Media Matters
Sun-Oh Park
Telephone: 82-2-3455-2340

Administrative Matters
Kun-Sang Kim
Telephone: 82-2-3705-0609


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

DAI HWA: To Submit New Regularization Proposal
----------------------------------------------
Dai Hwa Holdings (M) Berhad (Daihwa) informed Bursa Malaysia
Securities Berhad on the application for extension of time to
comply with Practice Note No. 10/2001 (PN 10).

The exchange refers to the Company's announcements dated June
28, 2005 and September 6, 2005 wherein K & N Kenanga Bhd
(Kenanga) had, on behalf of Daihwa, announced that the
Securities Commission (SC) had not approved the regularization
proposals (Proposals) of Daihwa to comply with PN 10
requirements and the eventual decision by the Board of Directors
of Daihwa not to proceed with its the appeal to the SC in
respect of the Proposals.

In relation thereto, Kenanga had, on behalf of Daihwa on
September 14, 2005, submitted an application to Bursa Malaysia
Securities Berhad for an extension of time of six (6) months to
March 13, 2006 make a new requisite announcement setting out a
new regularization proposal for Daihwa to comply with PN 10
requirements.

This announcement is dated 14 September 2005.

CONTACT:

Dai Hwa Holdings (M) Berhad
Suite 14A2,
Level 14,
Menara Ansar,
65 Jalan Trus,
80000 Johor Bahru,
Johor
Phone: 07-2241035
Fax: 07-2210891
Web site: http://www.dahw.com.my


DFZ CAPITAL: Issues New Shares for Listing, Quotation
-----------------------------------------------------
DFZ Capital Berhad advised that its additional 4,545 new
ordinary shares of MYR1.00 each arising from the conversion of
50,000 Irredeemable Convertible Preference Shares - A
(2005/2010) of MYR0.10 Each into 4,545 New Ordinary Shares will
be granted listing and quotation with effect from 9:00 a.m.,
Monday, September 19, 2005.


DUOPHARMA BIOTECH: Unveils TMSB Dealing in Shares
-------------------------------------------------
Duopharma Biotech Berhad (Duopharma) issued to Bursa Malaysia
Securities Berhad conditional mandatory offer by Tekan Maju Sdn
Bhd (TMSB), a wholly owned subsidiary of Chemical Company of
Malaysia Berhad, to acquire up to 92,490,610 Duopharma shares
(Offer Shares) not already owned by TMSB and persons acting in
concert for a cash offer price of MYR2.80 per offer share and
the disclosure of dealings pursuant to the Malaysian Code on
Takeovers and Mergers, 1998 (Code).

Pursuant to Section 36 of the Code, Duopharma advised the bourse
on the dealings by TMSB in the Duopharma Shares. The details of
the dealings are set out in the table below:

Date of      Name of  Description   No. of Shares  Transaction
transaction  party    of            acquired/      price per
                      Transaction   disposed       share

13/09/2005   TMSB     Acquisition    2,293,500     MYR2.80
13/09/2005   TMSB     Acquisition       18,200     MYR2.75


HAP SENG: Buys Back 52,000 Shares
---------------------------------
Hap Seng Consolidated Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back on September 14, 2005 with
the following details:

Date of buy back: September 14, 2005

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

Total number of shares purchased (units): 52,000

Minimum price paid for each share purchased (MYR): 2.120

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

Total consideration paid (MYR): 113,306.40

Number of shares purchased retained in treasury (units): 52,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 33,262,400

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

CONTACT:

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


JIN LIN: Restructuring Scheme Wins SC Nod
-----------------------------------------
Jin Lin Wood Industries Berhad (Jin Lin) issued to Bursa
Malaysia Securities Berhad an update to the following proposals:

- Proposed Scheme of Arrangement with Shareholders;

- Proposed Scheme of Arrangement with Creditors;

- Proposed Acquisitions;

- Proposed Exemption;

- Proposed Disposal;

- Proposed Offer;

- Proposed Placement; and

- Proposed Listing Transfer

(collectively known as Proposed Restructuring Scheme)

Further to the announcements made on February 9, 2004, June 29,
2004 and February 7, 2005, Avenue Securities Sdn Bhd (Avenue),
on behalf of Jin Lin, advised that the Securities Commission
(SC) had vide its letter dated September 13, 2005 (which was
received on September 14, 2005), approved the Proposed
Restructuring Scheme, under Section 32(5) of the Securities
Commission Act 1993 and the Guidelines on the Acquisition of
Interests, Mergers and Take-Overs by Local and Foreign Interests
as proposed subject to the following conditions:

(a) In relation to the Proposed Placement, Avenue should submit
to SC, upon completion of the placement, the following:

(i) The name, NRIC number, occupation, number of shares placed
and address of placees and/or of ultimate beneficial owners in
case of placees who are companies/ corporations;

(ii) A declaration by the directors and substantial shareholders
of Gefung Holdings Berhad (Gefung) that the placees are parties
not related to them; and

(iii) A declaration by the placement agent that the shares have
been placed with parties not related to the directors and
substantial shareholders of Gefung;

(b) Before implementation of the Proposed Restructuring Scheme,
Jin Lin/Gefung should resolve the issues on the non compliance
of Syarikat Bukit Granite's (SBG) marketing office located at
No. 136C, Lot 2295, Kampung Baru, Sungai Buloh, 47000 Sungai
Buloh, Selangor, i.e. certificate of fitness for occupation has
not been obtained from the relevant authorities and category of
land use for the land on which the office is built upon is under
agriculture instead of commercial purposes;

(c) Moratorium on disposal of securities to be imposed on
31,500,000 Gefung ordinary shares of MYR1.00 each and 31,500,000
Gefung Irredeemable Convertible Preference Shares (ICPS) of
MYR0.10 each, representing 50 percent of the consideration
securities to be received by the following vendors of SBG and
Shanghai Gefung Marble & Granite Co. Ltd (SGMG), whereby they
are not allowed to sell, transfer or assign their shareholdings
under moratorium for 1 year from the date of admission of Gefung
to the Second Board of Bursa Malaysia Securities Berhad (Bursa
Securities):

Vendors           Ordinary shares           ICPS

Seo Aik Leong     31,339,688                31,339,688

Siw Seng Chiw        160,312                   160,312

Seo Seng Chew     31,500,000                31,500,000

(d) Jin Lin/Gefung should disclose the status of utilization of
the Proposed Placement proceeds in its quarterly and annual
reports until such proceeds have been fully utilized;

(e) Jin Lin/Gefung should fully disclose the following matters
in its circular to shareholders:

(i) Risks pertaining to the cyclical nature of the industry that
the Gefung Group is operating in and the niche market that it
supplies to as well as their relevant mitigating factors;

(ii) Opinion by the Board of Directors of Gefung on the
achievability of the Gefung Group's profit forecast based on the
actual results achieved todate;

(iii) Reasons for the significant increase in profit after tax
of the Gefung Group, which was within the range of MYR0.14
million to MYR1.63 million between financial years (FY) ended
December 31, 2000 to 2002 to MYR9.28 million for FY ended 2003;
and

(iv) Timing restriction on repatriation of profit and
withholding tax on profit received by a foreign investor from
its project in People's Republic of China (PRC), enforceability
of the share transfer agreement between Gefung and Seo Aik Leong
in respect of Seo Aik Leong's transfer of all his interest in
SGMG to Gefung, owner of SGMG's verified registered capital,
enforceability of secured contracts entered into by SGMG with
its customers in PRC and necessary licenses, permits and
approvals for SGMG's operations in PRC;

(f) Jin Lin to provide SC with a detailed report together with
the relevant information on the events/transactions that led to
the deficit in the shareholders' funds of the Jin Lin Group
within 6 months from the date of SC's approval of the Proposed
Restructuring Scheme.

Based on the report, Jin Lin is also required to take the
necessary actions to recover its past losses and make a report
to the relevant authorities should there have been any
transgressions of the relevant laws, regulations, guidelines or
memorandum and articles of association of Jin Lin by the
directors' of Jin Lin and/or other parties that resulted in the
said losses;

(g) Further equity condition may be imposed after reviewing
Gefung's equity structure 3 years from the date of the
implementation of the Proposed Restructuring Scheme, in which
Avenue and Gefung are required to submit the effective equity
structure of Gefung 3 years after the date of completion of the
Proposed Restructuring Scheme, together with the latest audited
financial statements of Gefung;

(h) Avenue/Gefung to inform the SC upon completion of the
restructuring scheme;

(i) SBG is required to comply with the previous equity condition
imposed on it by the Ministry of International Trade and
Industry within two years from the listing date of Gefung on
Bursa Securities;

(j) The vendors of SBG and SGMG should provide a profit
guarantee to Gefung for FYs ending 2006 to 2008 as follows:

(i) 90 percent of the acquiree companies aggregate projected
profit before tax (PBT) of MYR24.048 million, MYR31.204 million
and MYR31.478 million respectively;

(ii) The collateral for the profit guarantee for FY ending 2006
should be in the form of a bank guarantee provided by a
Malaysian incorporated bank that is acceptable to SC;

(iii) The bank guarantee provided as collateral for the profit
guarantee for FY ending 2006 should be irrevocable,
unconditional and enforceable by Gefung and Avenue should
provide SC a confirmation to that effect;

(iv) The collaterals for the profit guarantee for FYs ending
2006 to 2008 should be deposited with an independent stakeholder
before the consideration shares for SBG and SGMG are listed on
Bursa Securities;

(v) Avenue and the independent stakeholder should confirm to SC
that the stakeholder is independent from the parties involved in
the acquisitions of SBG and SGMG;

(vi) Avenue and the independent stakeholder should ensure that
the collaterals for the profit guarantee are in place and intact
with the independent stakeholder prior to the start of each
guarantee FY;

(vii) In the event that the guaranteed profits are achieved by
SBG and SGMG, Avenue and the independent stakeholder should
ensure that the collaterals under the profit guarantee
arrangement are not released until the reporting accountants
have confirmed that such profit level has been met based on the
audited financial statements of SBG and SGMG for the guaranteed
FYs; and

(viii) In the event that the actual PBT as stated in the
reporting accountants' certificate for ant guaranteed FY exceeds
the guaranteed amount of such guaranteed FY, such excess cannot
be brought forward to the following FY or the preceding FY;
and

(k) Avenue and Jin Lin/Gefung should fully comply with the other
requirements of the Issues Guidelines in relation to the
implementation of the Proposed Restructuring scheme.

This announcement is dated 14 September 2005.

CONTACT:

Jin Lin Wood Industries Bhd.
Phone: 60 3 2710 5555
Fax: 60 3 2710 3108
E-mail: jlwood@po.jaring.my


K.P. KENINGAU: Books MYR1,524 in 4Q Net Loss
--------------------------------------------
K.P. Keningau Berhad furnished Bursa Malaysia Securities Berhad
a copy of its fourth quarter financial report for the financial
period ended July 31, 2005.

Summary of Key Financial Information
July 31, 2005

        Individual Period              Cumulative Period
    Current Year  Preceding Year  Current Year   Preceding Year
    Quarter       Corresponding   to Date        Corresponding
                  Quarter                        Period
    31/07/2005    31/07/2004      31/07/2005     31/07/2004
    MYR'000       MYR'000     MYR'000        MYR'000

(1) Revenue

    853           2,584           3,417          12,723

(2) Profit/(loss) before tax

    -1,528        -49,674         -5,297         -57,181

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

    -1,524        -50,654         -5,303         -57,913

(4) Net profit/(loss) for the period

    -1,524        -50,654         -5,303         -57,913

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

    -3.05         -101.41         -10.62         -115.94

(6) Dividend per share (sen)

    0.00           0.00             0.00          0.00

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

(7) Net tangible assets per share (MYR)

    -0.6300                    -0.5300

Click to view a full copy of the financial statement
http://bankrupt.com/misc/K.P.KeningauBerhad091605.xls

To view a full copy of the notes to FS, click
http://bankrupt.com/misc/K.P.KeningauNotestoFS31072005.doc

CONTACT:

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


KUB MALAYSIA: Unit Snags New Contract
-------------------------------------
The Board of Directors of KUB Malaysia Berhad advised Bursa
Malaysia Securities Berhad that KUB Power Sdn Bhd (KUB Power),
KUB's wholly owned subsidiary, has on September 13, 2005
accepted the award from Tenaga Nasional Berhad for KUB Power Sdn
Bhd - Siemens Malaysia Sdn Bhd Joint Venture, a joint venture
formed by KUB Power and Siemens Malaysia Sdn Bhd to procure the
contract for the supply, erect & commissioning of 500kV, 275kV
switchgear, 750MVA 500/275kV transformer, ancillary equipment
and associated civil works for PMU 500/275kV Bukit Tarik
extension (the Award) for contract sum of MYR63,000,000 (Ringgit
Malaysia: Sixty Three Million Only).

None of the directors and substantial shareholders of the
Company and KUB Power have any interest, whether direct or
indirect, in the Award. In so far as the directors and
substantial shareholders are able to ascertain and are aware of,
no person connected with them has any interest, direct or
indirect in the Award.

Click to view a Press Release of the abovementioned matter
http://bankrupt.com/misc/PressReleaseKUBPower091605.doc


LITYAN HOLDINGS: Due Diligence Period Extended
----------------------------------------------
Lityan Holdings Berhad (Lityan) issued to Bursa Malaysia
Securities Berhad an update to the following proposals:

- Proposed Acquisition of Guanhong Group;

- Proposed Exemption;

- Proposed Scheme of Arrangement with Shareholders;

- Proposed Scheme of Arrangement with Creditors;

- Proposed Issuance of Shares;

- Proposed Offer for Sale;

- Proposed Transfer of Listing Status; and

- Proposed Disposal

(collectively, the Proposed Restructuring Scheme)

The company refers to the announcement dated July 29, 2005,
wherein it was announced that the Company had on July 29, 2005
entered into a conditional restructuring agreement
(Restructuring Agreement) with Giant Best Corporation Limited
(Vendor), Chen Xinmin and Lim Chu Fatt (collectively, the
Guanhong Principal Shareholders) to undertake the Proposed
Restructuring Scheme.

Avenue Securities Sdn Bhd, on behalf of the Board of Directors
of Lityan advised that the Company had on September 14, 2005
agreed in writing with the Vendor and Guanhong Principal
Shareholders to extend the period to complete the legal and/or
financial due diligence in accordance with the terms of the
Restructuring Agreement as follows:

(i) The period for Lityan to complete legal and/or financial due
diligence on the Hong Kong Kwun Wang International Holdings
Limited, Shishi Guanhong Clothing Printer Co., Ltd and Fujian
Guanyuan Printing & Dyeing Co., Ltd (collectively the Guanhong
Group) has been extended from:

(a) No later than 45 days from the date of the Restructuring
Agreement or prior to the execution of the definitive agreements
by NewCo (a company incorporated or to be incorporated to serve
as the holding company, to facilitate the implementation of the
Proposed Restructuring Scheme) and the Vendor in respect of the
proposed acquisition of the Guanhong Group by NewCo (Definitive
Agreements), whichever is earlier; to

(b) No later than 90 days from the date of the Restructuring
Agreement or immediately prior to the submission of the
application to the Securities Commission (SC), whichever is
later.

(ii) The period for the Guanhong Principal Shareholders
(together with Vendor) to complete the legal due diligence on
the Lityan group of companies has been extended from:

(a) No later than 45 days from the date of the Restructuring
Agreement or prior to the execution of the Definitive
Agreements, whichever is earlier; to

(b) No later than 90 days from the date of the Restructuring
Agreement or immediately prior to the submission of the
application to the SC, whichever is later.

This announcement is dated 14 September 2005.

CONTACT:

Lityan Holdings Berhad
Bangunan Lityan,
Peremba Square Saujana Resort,
Section U2, 40150 Shah Alam
Selangor Darul Ehsan, Malaysia
Phone: + 603-7622-1188
Fax: +603-7666-6870
E-mail: enquiry@lityan.com.my


MEDIA PRIMA: Bourse to List, Quote New Shares
---------------------------------------------
Media Prima Berhad advised that its additional 12,263,530 new
ordinary shares of MYR1.00 each arising from the conversion of
18,395,297 Irredeemable Convertible Unsecured Loan Stocks
2003/2008 into 12,263,530 New Ordinary Shares will be granted
listing and quotation with effect from 9:00 a.m., Friday,
September 16, 2005.

CONTACT:

Media Prima Berhad
Sri Pentas,
No. 3 Persiaran Bandar Utama,
Bandar Utama,
47800 Petaling
Selangor
Phone: 03-77266333
Fax: 03-77280787
Web site: http://www.mediaprima.com.my/index.asp


NEPLINE BERHAD: Responds to Bourse's Query
------------------------------------------
Nepline Berhad issued a reply to Bursa Malaysia Securities
Berhad's query letter.

With reference to the Company's announcement on September 12,
2005 and a letter from Bursa Malaysia Berhad dated September 13,
2005.

(1) The case is in respect of Industrial Dispute whereby no suit
will be served on the Company save and except a notice will be
served by the court that a case is pending at the Industrial
Court. The said notice dated April 14, 2004 was served on the
Company, notifying the Company to appear in court on June 1,
2004.

Thereafter, the court will make directions for the respective
parties to file in the Statement of Case by the Claimant and the
Statement in Reply by the Company, to be filed at a fixed or any
extended date. The Claimant filed the Statement of Case on May
31, 2004 and the Company filed the Statement in Reply on July
15, 2004.

(2) The Claimant's claim against the Company is purportedly that
he was unlawfully dismissed by the Company as the Executive
Director effective January 1, 2000. He is claiming for
reinstatement together with backwages and other benefits he is
entitled to. The Company vehemently denies the Claimant's
allegations and contends the Claiment left on his own accord
when he refused to extend his contract of employment after he
has attained the age of 55 in 1997.

The amount claimed is fully at the discretion of the court
subject to the court finding that the Claimant has established
his case against the Company. No cost and interest shall be
awarded in Industrial Court proceedings.

(3) The circumstances leading to this case is that the Claimant
has attained the age of 55 in October 1997. Pursuant to the
Company's employees handbook, the Claimant is bound by the terms
and conditions therein i.e. his retirement shall be upon
attaining the age of 55.

The Company offered to engage the Claimant on contract basis
which contract shall expire December 31, 1999. The Company then
offered to extend his contract of employment for another year
effective January 1, 2000 to December 31, 2000.

The Claimant declined to execute the supplementary contract to
extend his employment. Despite the Company's indulgence granting
the Claimant extended time to return the executed supplementary
contract, the Claimant failed and neglected to do the same and
he has ceased employment effective January 1, 2000 on his own
accord. The Claimant contends that he was unlawfully terminated
and lodged a complaint to the Industrial Relations Department.

The parties were called for reconciliation meeting on April 27,
2000 but was unsuccessful. Subsequently, the Claimant was
removed from the board of directors by the Company's
shareholders in the Company's annual general meeting on June 27,
2000.

(4) The Company is of the view that there will not be any
financial and operational impact arising from this case.

(5) The expected losses (if any) shall be subject to the
Claimant successfully establishing that he was unlawfully
terminated and he is entitled to the remedies claimed by him.
The Court will then pursuant to its discretion in awarding
backwages and other benefits shall make the appropriate order
for the remedy claimed by the Claimant.

The Company assesses the same to be in the region of MYR300,000-
00 to MYR400,000-00 and legal fees payable to the Company's
solicitors.

Bursa Malaysia Query Letter content:

The company refers to your Company's announcement dated
September 12, 2005, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities immediately
with the following additional information for public release:

(1) The date the suit was served on the Company.

(2) The particulars of the claim under the litigation, including
the amount claimed for under the litigation and the interest
rate.

(3) The details of the default or circumstances leading to the
filing of the litigation against the Company.

(4) The financial and operational impact of the litigation on
the Group.

(5) The expected losses, if any arising from the litigation.

Yours faithfully

Tan Yew Eng
Sector Head
Issues & Listing
Group Regulations

CONTACT:

Nepline Berhad
Level 11, Wisma Maritim,
No. 4, Persiaran Sukan,
Seksyen 13,
Shah Alam Selangor 40100
Malaysia
Telephone: 03-50315000
Fax: 03-50318186


POLYMATE HOLDINGS: Details Proposed Acquisition of Apollo
---------------------------------------------------------
Polymate Holdings Berhad (Polymate) issued to Bursa Malaysia
Securities Berhad details on the proposed acquisition of Apollo
Batteries (S.A.) Pty Limited.

(1) Introduction

The Company disclosed that ABI (SA) Pty Limited (the Purchaser),
a wholly owned subsidiary of ABI Australia Limited (ABIA) has on
January 14, 2005 entered into a Sale and Purchase of Shares
Agreement (SPA) with Kevin William Blades and Wendy Joylene
Blades (collectively the Vendors) and Apollo Batteries (SA) Pty
Ltd (APOLLO) to acquire the entire issued share capital of
APOLLO comprising two (2) ordinary shares (the APOLLO Shares)
(Proposed Acquisition).

ABIA is a 77.38 percent owned subsidiary company of ABI Malaysia
Sdn Bhd which in turn is a wholly owned subsidiary of Polymate
Holdings Berhad.

(2) Information on Apollo Batteries (S.A.) Pty Limited
(Apollo)

(2.1) Apollo (Australian Company Number 008 173 340) of 94
Research Road Pooraka, in the state of South Australia was
incorporated on April 14, 1988 in South Australia. The existing
issued capital of APOLLO comprises two (2) ordinary shares.

(2.2) The business activities of APOLLO are selling of batteries
and associated products and includes all business conducted
under the trading names of Independent Battery Distributors
(Regn No. 0373748W/Registered in South Australia).

Based on the Unaudited/Management Accounts as at June 2004,
APOLLO has a net tangible assets of AUD1,205,000-00 and profit
after tax of AUD223,000-00.

(2.3) Apollo is the sole and beneficial owner of the entirety of
the issued capital in Independent Battery Distributors Vic Pty
Ltd (Australian Company No 073 763 569).

Independent Battery Distributors Vic Pty Ltd sells and
distributes lead acid batteries for automotive and related
industries in Victoria, Australia.

(3) Details of the Proposed Acquisition

(3.1) Purchase Price

(3.1.1) The Proposed Acquisition involves the acquisition of the
APOLLO shares by the Purchaser for a total cash consideration of
Australian Dollar (AUD) Two Million plus the Outstanding Loan
Balance on a willing buyer and willing seller basis.

Outstanding Loan Balance means the total amount outstanding on
the loans advanced by APOLLO to each of the Blades Family Trust,
Wendy Blades and Brenton Hill as at the Settlement Date.

Settlement Date or Completion Date means the day 14 days after
the Purchaser serves on the Vendors the notice issued by
Australian Stock Exchange Limited (ASX) advising that it has
approved the Proposed Listing of ABIA on the official list of
the ASX.

As at September 15, 2005, the Outstanding Loan Balance stood at
AUD635,100.31 being total amount outstanding on the loans
advanced by APOLLO.

(3.1.2) The Purchase Price shall be paid by the Purchaser as
follows:

(a) AUD50,000-00 on execution of the SPA as a deposit in part
payment of the Purchase Price.

(b) AUD1.0 million plus the Outstanding Loan Balance on
Completion Date.

(c) AUD250,000-00 each by three quarterly installments
commencing 3 months after the Listing Date.

(Listing Date means the date on which ABIA is admitted on the
official list of the ASX.]

(d) AUD200,000-00 twelve (12) months after the Listing Date.

(3.1.3) In the event that the amount raised by ABIA pursuant to
the Public Offering of shares equals or exceeds AUD2.50 million,
the Purchase Price shall be paid by the Purchaser as follows:

(a) AUD50,000-00 on execution of the SPA as a deposit in part
payment of the Purchase Price; and

(b) An amount equal to AUD1,950,000-00 plus the Outstanding Loan
Balance on Completion Date.

(3.2) Source of funding

The Proposed Acquisition is financed from internally generated
funds and proceeds raised from the Proposed Public Issue of
shares by ABIA.

(3.3) The Apollo Shares

The Apollo Shares shall be sold free from all mortgages, liens,
charges, encumbrances, pledges, options and adverse equities or
interests of any kind; and together with all rights now attached
or attaching thereto.

(3.4) Original cost of investment

The original cost of investment of the Vendors in the Apollo
Shares was AUD2.00 which was made on April 14, 1988 when Apollo
was formed.

(4) Conditions Precedent

The SPA is conditional on amongst others the following:

(a) The Purchaser undertaking a due diligence of APOLLO and its
business and not establishing elements materially different from
the representations made in the SPA.

(b) The listing of ABIA on the ASX.

(5) Rationale for the Proposed Acquisition

The Acquisition will enable ABIA to further enhance its
operations by gaining better market share in the Australian
automotive battery industry.

(6) Financial Effect of the Proposed Acquisition

(6.1) Share Capital

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

(6.2) Earnings

The Proposed Acquisition is not expected to have a material
effect on the consolidated earnings of Polymate for the
financial year ending September 30, 2005.

(6.3) Net tangible assets (NTA)

The Proposed Acquisition is not expected to have any material
effect on the consolidated NTA of Polymate for the financial
year ending September 30, 2005.

(6.4) Shareholding of substantial shareholders

The Proposed Acquisition will not have any effect on the
shareholdings of the substantial shareholders of Polymate.

(7) Approvals Required

The Proposed Acquisition is not subject to the approval of
shareholders of Polymate and government authorities.

(8) Directors and Major Shareholders Interest

None of the Directors and Major Shareholders of Polymate and/or
persons connected to them has any interest, direct or indirect,
in the Proposed Acquisition.

(9) Departure from the Securities Commission (SC) Guidelines

The Board of Directors of Polymate is not aware of any departure
from the applicable SC's Policies and Guidelines on Issue/Offer
of Securities in respect of the Proposed Acquisition.

(10) Statement of Directors

The Board of Directors of Polymate having taken into
consideration all aspects of the Proposed Acquisition, are of
the opinion that the Proposed Acquisition is in the best
interest of the Company.

(11) Documents for Inspection

The SPA is available for inspection at the Registered Office of
the Company situated at Suite 1008, 10th Floor, Wisma Lim Foo
Yong, No. 86 Jalan Raja Chulan 50200 Kuala Lumpur from Mondays
to Fridays (except public holidays) during business hours.


POS MALAYSIA: New Shares Up for Listing, Quotation
--------------------------------------------------
POS Malaysia & Services Holdings Berhad advised that its
additional 119,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employee Share Option Scheme will be granted
listing and quotation with effect from 9:00 a.m., Monday,
September 19, 2005.

CONTACT:

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


TANAH EMAS: Bourse Grants Listing, Quotation of New Shares
----------------------------------------------------------
Tanah Emas Corporation Berhad advised that its additional 20,000
new ordinary shares of MYR1.00 each issued pursuant to the
conversion of 30,000 Irredeemable Convertible Unsecured Loan
Stocks 2001/2006 into 20,000 new Ordinary Shares will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Friday, September 16, 2005.


TAP RESOURCES: Given Until December to Redeem RCSLS
---------------------------------------------------
Further to the announcement made on 30 August 2005, the Board of
Directors of Tap Resources Berhad informed Bursa Malaysia
Securities Berhad that it had on September 13, 2005, received a
letter dated September 9, 2005 from one of the Redeemable
Convertible Secured Loan Stock (RCSLS) Holders, AmBank (M) Bhd
(AmBank) where AmBank has agreed to grant the Company an
indulgence of up to December 30, 2005 to fully redeem/acquire
all the outstanding RCSLS held by AmBank on the basis of MYR1.00
for every MYR1.00 nominal value of RCSLS outstanding.

The indulgence is however conditional upon AmBank's receipt of
the following, not later than September 16, 2005:

(1) Payment of RCSLS interest which was due on June 30, 2005
amounting to MYR436,376.16;

(2) Payment of MYR843,000 by Genus Computing Sdn Bhd (Genus)
towards acquisition of RM843,000 nominal value TAP RCSLS held by
AmBank; and

(3) Genus shall furnish written instructions to AmBank to
convert the MYR843,000 RCSLS into 843,000 ordinary shares in
TAP. The 843,000 ordinary shares in TAP shall be pledged by
Genus to AmBank to secure Genus's obligations under the Put
Option Agreement dated May 8, 2003 (Put Option Agreement).

Genus is the Grantor which has granted AmBank the option to
require Genus to purchase from AmBank such relevant RCSLS upon
the terms and conditions as contained in the Put Option
Agreement.

In view of the tight time frame given by AmBank, the Board is
deliberating to propose to AmBank for extension of time to
fulfill the above-mentioned conditions.

Further development if any, will be announced accordingly.

CONTACT:

Tap Resources Berhad
No. 18, Block B,
Jalan 1/89B (Seksyen 92A),
Batu 3 1/2 Off Jalan Sungei Besi,
57100 Kuala Lumpur
Malaysia
Phone: 03-79823388
Fax: 03-79811329


YNH PROPERTY: Wants More Time to Amalgamate Land Title
------------------------------------------------------
YNH Property Bhd (formerly known as Yu Neh Huat Bhd) (YNH)
issued to Bursa Malaysia Securities Berhad an update on the
extension of time on the condition set by the Securities
Commission (SC) in relation to the listing of YNH pursuant to
the Restructuring Scheme of Techno Asia Holdings Bhd (under
creditors' voluntary liquidation) (TAHB).

Further to the announcements made on October 26, 2004, December
31, 2004, March 31, 2005 and June 30, 2005 in relation to the
Conditions, AmMerchant Bank Berhad (a member of AmInvestment
Group) (AmMerchant Bank) on behalf of YNH, advised the bourse
that it had on September 14, 2005 applied to the SC for an
extension of time of up to October 14, 2006 for YNH to
amalgamate the land titles for PT 6676, Lot 9445, 9240 to 9248,
Mukim Lumut, Daerah Manjung, Perak.

Kar Sin Berhad (KSB), a wholly owned subsidiary of YNH, had on
September 9, 2005 entered into a conditional sales and purchase
agreement with Industrial Concrete Products Berhad (ICPB) for
the disposal of Lot A3 and A4, Mukim of Lumut, Daerah Manjung,
Perak (Lot A3 and A4) for a total cash consideration of
MYR2,170,268.10 (Proposed Disposal of Lot A3 and A4).

Pursuant to the Proposed Disposal of Lot A3 and A4, YNH had also
sought the approval of the SC to release YNH from the condition
set by the SC to transfer and register the titles of Lot A3 and
A4 to KSB within six (6) months from the issuance of separate
land titles by the local land authority upon completion of the
disposal.

This announcement is dated 14 September 2005.


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

AL-AMANAH BANK: BSP, PDIC Presses Rehabilitation
-----------------------------------------------
The proposed rehabilitation of Al-Amanah Islamic Investment Bank
is likely to push through with the joint effort of Bangko
Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance
Corp. (PDIC).

The Manila Bulletin reported that the two agencies are working
to make Al-Amanah saleable.

The process for rehabilitation is reportedly underway with BSP
and PDIC coming with an agreement to make the bank attractive to
potential investors.

BSP, however, clarified that it can only bid out the Islamic
bank once the rehabilitation project is completed.

The BSP supervises Al-Amanah Bank, which was created by Congress
through Republic Act No. 6848. The bank's board includes the
National Government, Land Bank of the Philippines, Development
Bank of the Philippines and the Social Security System.

The Department of Finance announced earlier it would tap other
government financial institutions including Land Bank of the
Philippines to rehabilitate Al-Amanah Bank, formerly Philippine
Amanah Bank and to eliminate finally, its estimated Php500-
million liabilities.

There is only one recognized Islamic bank in the country since
1973 when it was first created under a presidential decree. The
bank's mandate is to cater exclusively the Muslim entrepreneurs
and other clients in Mindanao. With the amendment of the law
that created the Islamic bank, private groups are now allowed to
own the majority of the bank.

The finance department is still cleaning up its liabilities
before being placed on the auction block.

CONTACT:

Al-Amanah Islamic Investment Bank of The Philippines

Makati Executive Office
G/F - NDC Building
116 Tordesillas St., Salcedo Village,
Makati City
Phone: 816-42-58/893-43-50
Fax: 819-52-49

Head Office
G/F Mindpro Bldg., La Purisima St,
Zamboanga City.
Phone: (062) 991-4158
Fax : (062) 991-2030

Web site: http://www.islamicbank.com.ph/


COLLEGE ASSURANCE: Says SEC Criminal Suit 'Harassment Tactic'
-------------------------------------------------------------
College Assurance Plan Philippines Inc. (CAP) has described a
criminal case filed by the corporate regulator against it as a
harassment suit, according to The Philippine Star.

The Securities and Exchange Commission (SEC) last week filed
before the Department of Justice a criminal complaint against
the directors and officers of the embattled pre-need firm for
breaching the Securities Regulation Code (SRC).

But CAP insisted it has been in faithful compliance with the
rules governing the sale of pre-need plans.

CAP also pointed out that it has been transparent to the SEC to
the fact that it even admitted it had oversold unregistered
plans.

"Before the proper forum, CAP will more fully respond to these
charges and expose them for the harassment tactics that they
are," the pre-need firm further said.

Recommended for criminal prosecution by the SEC were CAP
chairman Alejandro Roces, president and chief executive officer
Enrique Sobrepe¤a Jr., treasurer James Marsh Tomson and
directors Coronado Munasque, Sen. Juan Flavier, Ernesto
Espaldon, Robert John Sobrepe¤a Jr., William Russell Sobrepe¤a,
Romulo Espaldon, Gillian Akiko Thomson, Eusebio Tanco, Rafael
Evangelista and Ma. Romela Bengzon. The SEC also sought the
issuance of a hold-departure order against the respondents to
prevent them from fleeing the country and evading criminal
liabilities.

In its complaint, the SEC said CAP sold pre-need educational
plans despite the fact that it knew it had no more registered
plans to sell in violation of Sec. 16 of the SRC. CAP had used
up all its registered plans as early as June 2004.

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


MAKATI MEDICAL: Closure Likely if Strike Pushes Through
-------------------------------------------------------
Cash-strapped Makati Medical Center warned it will shut down if
its rank-and-file union presses on with a planned industrial
action, BusinessWorld relates.

MakatiMed's workers union threatened to strike after it failed
to reach a collective bargaining agreement with the hospital
management.

The hospital fears the possibility of shutting down when the
strike pushes through since patients, who are its source of
revenue, are likely to go elsewhere. Without money coming from
the patients, the institution cannot restructure its Php1.2-
billion loan.

MakatiMed is trying to restructure its loans after it discovered
in December last year that it had bled Php300-million in the
past three years.

The hospital had to lay off workers last May to temporarily
address its financial difficulties. It is also looking for
investors that are willing to infuse new money into the
hospital.

MakatiMed's lenders have also pressured it to improve its
cashflow before they would decide whether to restructure the
hospital's loans. If the strike pushes through, the creditors
might decide to foreclose the hospital instead of giving in to
the restructuring request.

Last week, the rank-and-file union filed a notice of strike at
the Labor department, citing disagreements in the collective
bargaining agreement. It was also earlier alleged that
management was looking at cutting the medical benefits of the
rank and file employees.

MakatiMed president Gabino A. Mendoza said the hospital
management could not give in to the union's demand for a wage
increase because of its financial difficulties. But he denied
reports the hospital had threatened to cut the medical benefits
of the workers.

Makati Med has 1,500 employees.

CONTACT:

Makati Medical Center
2 Amorsolo St., Legaspi Village,
Makati City
Philippines
Phone 815-9911
Web site: http://www.makatimed.ph


PACIFIC PLANS: Cash Woes Remain Despite Asset Transfer from Unit
----------------------------------------------------------------
Pre-need firm Pacific Plans Inc. (PPI) admitted it is still
battling financial crisis even after the transfer of the assets
of its defunct subsidiary Lifetime Plans Inc. (LPI), The
Philippine Star reports.

PPI mentioned its dilemma in its supplemental petition filed
with the Makati Regional Trial Court after the Securities and
Exchange Commission (SEC) cancelled LPI's corporate license.

In its supplement petition, PPI stressed that it still foresees
the impossibility of meeting its debts when they fall due
because the trust funds of the various products of PPI can only
be used to pay the benefits of the plans corresponding to it and
may not be used to pay the liabilities due to the holders of
open-ended traditional education plans.

The Makati RTC has admitted the supplemental petition filed by
PPI and set the same for hearing on Oct. 5, 2005.

All creditors and interested parties were directed to file their
comments or opposition to the supplemental petition with
supporting affidavits and documents not later than 10 days
before the date of the hearing.

PPI assured LPI planholders that they will continue to be paid
because the trust funds corresponding to their plans are intact
and can answer for their benefits.

CONTACT:

Pacific Plans Inc.
2nd Flr., Grepalife Bldg,
221 Sen. Gil Puyat Ave.
Makati City
E-mail: bizialcita@grepa.com


UNIWIDE HOLDINGS: Cleared to Tap Partner's Fund to Pay Workers
--------------------------------------------------------------
The corporate watchdog has authorized Uniwide Holdings Inc. to
utilize funds of partner, First Paragon Corp., to pay
entitlements of sacked workers, BusinessWorld reports.

The Securities and Exchange Commission (SEC) granted Uniwide's
request to tap Php8.3 million funds of First Paragon to defray
the separation benefits cost of 269 retrenched employees.

The SEC's approval is in view of the urgency and exigency of
addressing the payment of the retrenched employees' separation
pay.

The regulator's Office of the General Counsel said it made the
crucial decision since it cannot completely deny retrenched
employees and their families possible last hope to compensated
for the services rendered to Uniwide between June 25, 1999 and
their last day at work.

Earlier the Uniwide Sales Employees Union has filed a notice of
strike with the National Conciliation and Mediation Board,
should the entitlements issue remained unresolved.

Most of the retrenched employees have an average 20 years of
employment (at Uniwide) and must have been given an equal amount
of benefit for each year of service they rendered. But
management said they can only provide as much as six years'
worth benefits.

Uniwide officials claimed the Company cannot afford to give the
full benefits since Uniwide is still under receivership.

CONTACT:

Uniwide Holdings, Inc.
Upper Ground Floor Pearl Plaza Bldg.
0165 Quirino Avenue, Brgy. Tambo
Paranaque City
Telephone Number: (632)-851-12-58


* Pre-need Industry Suffers Sluggish Sales
------------------------------------------
Court cases and petitions for corporate rehabilitation have
caused the pre-need industry to suffer dwindling sales of plans,
The Manila Times says.

In July the industry posted a near 15-percent decline in sales,
13.66-percent decline in amount of plans sold and a 14.87-
percent decline in initial collection.

For the first seven months of the year the industry posted a
31.11-percent decline in sales, a 40.46-percent decline in gross
contract price and a 43.45-percent decline in initial
collection.

For the month of July the biggest percentage drop came from
sales in life plans, which posted a nearly 23-percent decline in
sales. Companies cumulatively sold 4,847 plans in July.

Pre-need education plans, meanwhile, suffered the biggest
decline in sales to 57.59 percent with only 34,727 plans sold
for the past seven months.

The decline is conversely opposite to the number of cases heard
at the sala of Judge Romeo F. Barza at Branch 61 of the Makati
Regional Trial Court. Currently, it has three new petitions for
rehabilitation from pre-need firms, including Yuchengco-owned
Pacific Plans Inc. and Salas-owned Platinum Plans Inc.

But these firms are understood to have found a sympathetic ear
in the court, noting, for instance, its decision to uphold the
supplemental petition of Pacific and placing a period on the
hearings of Platinum. Last week the same court dismissed the
class suit filed by plan holders against College Assurance Plans
Inc. (CAP).



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

DE FENG: Court Issues Winding Up Order
--------------------------------------
In the matter of De Feng Construction Pte Limited, the Singapore
High Court issued a winding up order against the Company on
Sept. 2, 2005, with the following details:

Name and address of Liquidator: Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #05-11/#06-11
Singapore 069118

Dated this 16th day of September 2005

Rodyk & Davidson
Solicitors for the Petitioners


INDO GRAHA: Creditors Asked to Submit Debt Claims
-------------------------------------------------
Notice is hereby given that the creditors of Indo Graha Holdings
Pte Limited, which is being wound up voluntarily, are required
on or before Oct. 7, 2005 to send in their names and addresses
and the particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to the Liquidator at 300
Beach Road, #38-05 The Concourse, Singapore 199555; and if so
required by notice in writing from the said Liquidator, are (by
their solicitors or personally) to come in and prove their debts
or claims at such time and place as shall be specified in such
notice.

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

Heng Lee Seng
Liquidator
300 Beach Road, #38-05 The Concourse
Singapore 199555


NEOCORP INTERNATIONAL: Served with Winding Up Petition
------------------------------------------------------
Neocorp International Limited announced earlier that the Company
is liable to Standard Chartered Bank for SGD1.71 million, with a
5% per annum accruing interest (from April 2, 2004), plus costs
on an indemnity basis.

On Sept. 15, 2005, Standard Chartered Bank served a winding up
Petition against the Company. The petition hearing is scheduled
for Oct. 7, 2005 in the Singapore High Court.

Meanwhile, the Company also announces that its merger agreement
with Yoma Strategic Investments Limited, which was signed on
Dec. 20, 2004, is due to expire on Sept. 30, 2005 unless
mutually extended. The Company submitted the scehem documnet to
the Singapore Stock Exchange, and is awaiting approval for an
extension.

CONTACT:

NeoCorp International Limited
31 Changi South Ave 2
Singapore 486478
Phone: 65 6542 9315
Fax:   65 6545 7880
Email: corp_affairs@neocorp.com.sg
Web site: http://www.neocorp.com.sg/


UNITED FIBER: HTSG Not a Shareholder, Merely Escrow Agent
---------------------------------------------------------
United Fiber System Limited wishes to carify the announcements
released on the change in a "substantial" shareholder's
interest.

In a letter to the Company dated Sept. 12, 2005 HSBC
Institutional Trust Services (Singapore) Limited clarified
(HTSG) that it should not be deemed as a substantial shareholder
of United Fiber System Limited. HTSG is only holding the
Company's shares as an escrow agent, without any change in
beneficial ownership.

By Order of the Board
Kishore Dass
Chief Executive Director
Sept. 15, 2005

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


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

EASTERN WIRE: JJ Lands Settles Dues
-----------------------------------
Eastern Wire Public Co. Ltd. informed the Stock Exchange of
Thailand (SET) that JJ Lands Development Co. has already repaid
a total of THB250,424,657.53 both for the principal and interest
of its short-term loan. The remaining THB81 million will be
repaid within 15 days which falls on September 21, 2005.

JJ Land has already repaid a total of THB81,257,979.45 to the
company as of September 15, 2005.

Please be informed accordingly,

Best regards,
Mr. Sontaya noicharoen
Chief Operation Officer

CONTACT:

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


JASMINE INTERNATIONAL: Unveils Result of Warrant Conversion
-----------------------------------------------------------
As Jasmine International Public Company Limited has issued and
offered warrants to purchase new shares to the existing
shareholders and the directors and/or employees of the Company
and its subsidiaries, the Company issued to the Stock Exchange
of Thailand (SET) a report on the results of warrant conversion
to common shares as follows:

(1) Warrants offered to the existing shareholders (JAS-W)

The Company has set the date for converting the Company's
warrants at the ratio of 1 right warrant into 1 common share at
THB0.334 per share.  Date to notify the intention to exercise is
September 1 to 14, 2005.  The exercise date is on September 15,
2005.  The results of the conversion are as follows:

- No warrant holder exercises his right

After this conversion, there are 1,156,203,100 remaining
warrants.

(2) Warrants offered to directors and/or employees of the
Company and its subsidiaries (ESOP).

The exercise date is on September 15, 2005, date to notify the
intention to exercise is September 1 to 14, 2005.  The ratio to
exercise for every warrant class is 1 warrant unit per 1 common
share at the following exercise prices.

Warrant Class     Issue No.     Exercise Price per share (Baht)

                   1             1-3                     0.668
                   2              1                      1.002
                                  2                      1.336
                                  3                      1.102
                                  4                      1.469
                                  5                      1.212
                                  6                      1.616
                                  7                      1.334
                                  8                      1.778
                                  9                      1.467
                                  10                     1.956
                   3             1-2                     1.002

The Company would like to report the results of the conversion
as follows:

- No warrant holder exercises his right

After this conversion, there will be remaining warrants as
follows:

Warrant Class    Issue No.   Remaining warrants after exercise
date (Units)*

           1            1                         11,888,469
                        2                         12,985,008
                        3                         18,965,130
           2            1                          4,994,620
                        2                          6,809,930
                        3                          4,994,620
                        4                          6,926,660
                        5                          9,159,720
                        6                          6,926,660
                        7                          9,159,720
                        8                          6,926,660
                        9                          9,315,370
                        10                         6,926,690
           3            1                          4,489,950
                        2                          4,489,950

Remark * Calculated from total number of warrants of the project
subtract with exercised warrants.

Therefore, the Company will have a paid-up capital of
THB8,319,877,163.

Please be informed accordingly.

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

CONTACT:

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


PICNIC CORPORATION: Relates Process of Warrant Exercise
-------------------------------------------------------
Picnic Corporation Public Company Limited informed the Stock
Exchange of Thailand (SET) on the process of exercising Picnic
Warrants.

(1) Submission:

Warrant holders must submit the subscription form between the
9:30 a.m. to 3:30 p.m., five days prior to the exercise date
(for the last exercise date, the warrant holders must submit
their forms 15 days prior to the last exercise date). For the
month of September 2005, the submission period is September 23,
2005 and September 26 to 29, 2005.

(2) Exercise Date:

Warrant holders can exercise their warrants every last working
day of the month, during 9:30 a.m. to 3:30 p.m. The first
exercise date was on March 31, 2004 and the last exercise date
will be on November 11, 2010. For the month of September 2005,
the exercise date is September 30, 2005.

(3) Exercise Price: THB2.572 per share

(4) Exercise Ratio: 1 warrant for 2.33354 ordinary shares

Example: The calculation of the share numbers and the amount of
money to be paid is:

Assumed number of warrants to be exercised- 100 units

Exercise ratio- 1 warrant for 2.33354 ordinary shares

Number of shares received from the exercise  = 100 x 2.33354
                                             = 233.354
The net number of shares received            = 233 shares

(The number of shares received will be rounded off to the
nearest integer)

Exercise price- THB2.572 per share

The amount of money to be paid equals = 233 x 2.572
                                      = THB599.28

(5) Documents to be submitted

(5.1) The completed subscription form.

(5.2) Warrant certificate or temporary warrant certificate (for
holders of scripless warrants).

(5.3) A certified true copy of the identification card for
individual holders or a copy of the certificate of incorporation
from the Department of Commerce for corporate holders.

5.4 Cheque, draft, or bank order collectable within the Bangkok
Metropolis exercisable within two (2) business days of each
Exercise Date, and made payable to " Picnic Corporation Plc. for
shares subscription "

(6) Contact Place: Finance and Accounting Department

    Contact Person: Miss Saowaluck Kaochanphang

        Picnic Corporation Plc
        Nakara Building 20 th floor
        805 Srinakarin Road, Suanluang
        Bangkok 10240, Thailand.
        Telephone number: (662) 721-3600
        Facsimile number: (662) 721-3581

(7) Conditions

(7.1) The number of warrants to be exercised shall be 1 warrant
to 2.33354 shares of the Company unless adjusted according to
the adjustment policy stated in the PO prospectus relating to
the exercise price and the exercise ratio.

(7.2) The subscription form shall be deemed valid only when all
documents are duly completed and the payment proceeds have been
honored within the subscription period.

Please be informed accordingly

Yours faithfully,
Mr. Nattachai Aramrasamewanich
Managing Director

CONTACT:

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


PREMIER ENGINEERING: Unit to Dispose of Properties
--------------------------------------------------
The Board of Directors Meeting of Premier Engineering and
Technology Public Company Limited (the Company) No. 6/2548,
held on September 14, 2005 (2548), approved Data Pro Computer
Systems Co. Ltd. (the Subsidiary) to enter into the transaction
with the connected company as follows.

(1) Date of Transaction

After receipt of the approval of Shareholders Meeting of the
Company.

(2) Relevant Parties

Seller: Data Pro Computer Systems Company Limited

Purchaser: Premier Manufacturing Company Limited or a juristic
person newly established or appointed by Premier Manufacturing
Co. Ltd.

(3) The Relationship

(i) A major shareholder of both the Company and the
Purchaser is Mrs. Vimolthip Phongsathorn who holds 106,645,076
shares, which is equivalent to 81.66 percent in the Company and
1,899,965 shares, which is equivalent to 99.99 percent in the
Purchaser company.

(ii) The Company and the Purchaser both have the same 3
executives as below:

(a)  Mr.  Vichien  Phongsathorn
(b)  Mr.  Suradej  Boonyawatana
(c)  Mrs.  Duangthip  Eamrungroj

Where the connected persons and any person related to such
connected persons shall not be eligible to vote in the
Shareholder Meeting on the agenda concerning the approval of
entering into the transaction.

(4) Nature of Transaction

The Subsidiary is going to sell its properties in the category
of furniture, tools, and equipments used in Broadband Technology
Solutions (BBTS) business and Training Center Services (TCS)
business to the Purchaser company, who is the connected person
of the Company, at the price of THB11,183,060.93.

Such transaction is regarded the connected transaction in the
category of transaction relating to the asset or service under
Notification of the Board of Governors of the Stock Exchange of
Thailand, Re: Disclosure of information and other acts of listed
companies concerning the connected transaction, 2003.

(5) Total Value of Transaction

The selling price shall be in total of THB11,183,060.93 (Eleven
million one hundred eighty-three thousand sixty bath and ninety-
three Satang)

(6) Size of the transaction

Equivalent to THB11,183,060.93 (Eleven million one hundred
eighty-three thousand sixty baht ninety-three Satang),
which required the approval of the Board of Directors Meeting of
the Company under Notification of the Board of Governors of the
Stock Exchange of Thailand, Re: Disclosure of information and
other acts of listed companies concerning the connected
transaction, 2003.

Nevertheless, the Company will propose this transaction to the
Extraordinary General Meeting of Shareholders No.1/2005 for
further consideration and approval.

However, a resolution of the shareholders meeting to approve a
decision to enter into a connected transaction must consist of
at least three-fourths of the total votes of the shareholders
attending the meeting and having voting right, excluding
interested shareholders equity.

(7) Opinion of the Board of Directors and the Audit Committee

The Board of Directors Meeting of the Company, consisting of the
Audit Committee and the Directors who are not the interested
persons, has considered and resolved that to enter into such
connected transaction is appropriate and gain ultimate benefit
to the Company and the Subsidiary.

As the property to be sold are not necessary in the operation of
the Subsidiary. Whether the selling price is fair or not, the
shareholders will determine from the opinion of the independent
appraiser certified by SEC.

(8) Dissemination of the Notice of the Shareholders Meeting

The Company will send a Notice of the Extraordinary General
Shareholders Meeting No. 1/2005 to the Stock Exchange of
Thailand and the shareholders at the same time.

CONTACT:

Premier Engineering & Technology PCL
1/10 Moo 4, Bangchan Industrial Estate,
Khan Na Yao Bangkok
Telephone: 0-2517-1276-8, 0-2517-7520-8
Fax: 0-2518-1473







                            *********


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

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