TCRAP_Public/051006.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Thursday, October 6, 2005, Vol. 8, No. 198

                            Headlines

A U S T R A L I A

A.C.N. 100 090 766: Creditors Agree to Wind Up Firm
AIR NEW ZEALAND: Flies to Adelaide
ALIMOJG PTY: Members Pass Winding Up Resolution
CLOUGH LIMITED: Unit Begins Australian Mining
DESIGN KNIT: Schedules Final Meeting October 12

DJ&GM BRASSELL: Members Opt for Voluntary Liquidation
FB KANE: Liquidator to Distribute Company Assets
GREATLANDS GENERAL: Set to Declare Dividend
HULMOS PTY: Inability to Pay Debts Prompts Wind Up
ISSAC CONSTRUCTION: Court Orders Winding Up

LITTLE SHOP: Members to Get Wind Up Report
MASTERS OF ARABICA: Court Issues Winding Up Order
MAYNE GROUP: Court to Decide on AU$4-Bln Demerger
MYER LIMITED: Parent Mulls Debt Deal
NIRVANA PROPERTIES: Appoints Official Liquidators

NORTH-SOUTH MARKETING: Enters Liquidation
NPK INVESTMENTS: Members Resolve to Wind Up Business
PLACER DOME: Arizona Star Releases Default Notice
PLACER DOME: Bema Issues Notice of Default
PLACER DOME: Responds to Bema Notice of Default

PLASMET PTY: Members Decide to Close Operations
RESTACO PTY: Members Resolve to Wind Up Firm
RMG LIMITED: Directors Face Class Action
SALAMANCA SOFTWARE: Members Decide to Cease Ops
SAM'S SEAFOOD: Administrators Provide Update to Creditors

SOUTH COAST: Distributes Dividend to Creditors
STOKE GABRIEL: Placed Under Voluntary Liquidation
TELSTRA CORPORATION: CSFB's Upgrade Pushes Up Shares
TELSTRA CORPORATION: Faces Payphone Scrutiny
WESTMOUNT PTY: Liquidator to Explain Wind Up to Members

WR & SM INDUSTRIES: Declares First, Final Dividend


C H I N A  &  H O N G  K O N G

BEIJING MEDIA: Notes Unusual Price Movement
BEIJING HUABANG: Korean Lotte Buys Up Chinese Beverage Firm
CHEUNG HING: Court Releases Winding Up Order
CHI WAH: Ordered to Cease Operations
CHINA SCIENCES: Confirms Top Execs Arrested

DRAGON SUNNY: Prepares to Wind Up Business
HONGKONG CONSTRUCTION: Court Grants Proposed Reorganization
KIN HING: Discharge from Bankruptcy Looms
LONG KING: Poised to Exit Bankruptcy Next Year
SUN HING: To Wind Up Operations

TEAMARK TOYS: Joint, Several Liquidators Appointed
TRANSMATE SERVICES: May Exit Bankruptcy in 2006


I N D I A

DCM FINANCIAL: Details Scheme of Arrangement
INDIAN OIL: Noble Explochem Secures Order
ISIBARS LIMITED: Board Meeting Fixed October 10


I N D O N E S I A

DIRGANTARA INDONESIA: Dismissed Workers Demand Severance Pay
PERTAMINA: Ups Fuel Prices for Industry by 16%


J A P A N

MINEBEA CO.: S&P Revises Rating Outlook to Negative
MITSUBISHI FUSO: Launches Next Generation Medium-Duty Truck
MITSUBISHI MOTORS: Extends U.S. Gas Incentive
MYCAL CORPORATION: Set to End Rehab Proceedings This Year
NANKAI ELECTRIC: R&I Downgrades Rating to BBB-

SEIYU LIMITED: Wal-Mart Raises Stake to 50%


K O R E A

CITIBANK KOREA: Union Cries Breach of CBA


M A L A Y S I A

AMTEL HOLDINGS: Unit Subscribes Equity Interest in MUSB
DATUK KERAMAT: Lapse Prompts Trading Halt
GOLD BRIDGE: Sets Out Reasons for Default
HAP SENG: Issues Share Buy Back Notice
MBF HOLDINGS: Court to Hear Appeal April 2006

PAN PACIFIC: To Carry Out Proposed Restructuring Scheme
PARK MAY: Bank Seeks More Time to Complete Proposed Scheme
POLY GLASS: In Talks with Auditors Re Qualifications
POS MALAYSIA: Issues New Shares for Listing, Quotation
PROMTO BERHAD: SC Junks Restructuring Proposal

PUNCAK NIAGA: Concludes First Issuance of Medium Term Notes
SINORA INDUSTRIES: Reviews Plan to Regularize Condition
TALAM CORPORATION: Warrants Set for Removal from Bourse
TANCO HOLDINGS: Court OKs Request to Convene Meeting
TELEKOM MALAYSIA: Bourse to Grant Listing, Quotation of Shares

UNITED CHEMICAL: Proposed Restructuring Scheme Still Unchanged


P H I L I P P I N E S

ATLAS CONSOLIDATED: Mine Rehabilitation Going Well
COLLEGE ASSURANCE: Hits Watchdog's Directive
GILLAMAC LIFE: Needs to Explain Trust Fund Shortfall
LEPANTO CONSOLIDATED: NLRC Hands Down Decision on Labor Issue
MAYNILAD WATER: Consuji's Bid to Take Stake Hits Snag

NATIONAL HOME: Sison Appointed New President
SM EQUICOM: Closes Doors After 20 Years


S I N G A P O R E

BOON CHANG: Court Issues Winding Up Order
CITIRAYA INDUSTRIES: Appoints New Director
FIRSTLINK INVESTMENTS: Receives EGM Requisition Proposal
JIL COMPONENTS: Creditor Seeks Winding Up
VEGOIL PTE: Receiving Proofs of Debt Until Ocotber 14

WENCON SINGAPORE: Court Orders Winding Up
WIRELESS COMMUNICATIONS: To Hold Final Meeting on Oct. 28


T H A I L A N D

PICNIC CORPORATION: Unveils Warrant Exercise Results
PICNIC CORPORATION: Audit Committee Chair Quits
WYNCOAST INDUSTRIAL: Undertakes 29th Warrant Exercise

     -  -  -  -  -  -  -  -

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

A.C.N. 100 090 766: Creditors Agree to Wind Up Firm
---------------------------------------------------
Notice is hereby given that at a meeting of the members and
creditors of A.C.N. 100 090 766 Pty Limited held on Aug. 31,
2005, creditors resolved to wind up the Company voluntarily, and
appointed R. A. Sutcliffe as Liquidator for such purpose.

Dated this 31st day of August 2005

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


AIR NEW ZEALAND: Flies to Adelaide
----------------------------------
Air New Zealand will start serving the Adelaide-Auckland route
from March next year, according to The Age.

Air NZ is the first international carrier to establish services
at the new AU$260-million Adelaide airport terminal, set to
officially open this Friday.

The New Zealand-based carrier will introduce three direct
flights weekly between Adelaide and Auckland and will offer more
than 43,000 passenger seats per year on the route.

South Australian Premier Mike Rann says Air New Zealand's
decision to include Adelaide on its flight schedule was a
positive for Adelaide's new airport.

The airline will operate its new Airbus A320 on the route
offering business class and Pacific economy class seating, with
the service to commence on March 26, 2006.

Air NZ currently flies to five other airports in Australia,
including Brisbane, Melbourne, and Sydney.

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/


ALIMOJG PTY: Members Pass Winding Up Resolution
-----------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Alimojg Pty Limited held on Aug. 29, 2005, it
was resolved that the Company be wound up voluntarily.

At a creditors' meeting held on the same day, it was resolved
that William Bernard Abeyratne and Loke Ching Wong of Harrisons
Insolvency, Level 5, 150 Albert Road, South Melbourne be
appointed Liquidators for the winding up.

Dated this 29th day of August 2005

William B. Abeyratne
Loke C. Wong
Joint Liquidators
c/o Harrisons Insolvency
Level 5, 150 Albert Road
South Melbourne Vic 3205
Phone: 9696 2885


CLOUGH LIMITED: Unit Begins Australian Mining
---------------------------------------------
Clough Limited's subsidiary company, PT Petrosea Tbk and its
Alliance partner, Renison Consolidated Mines NL has commenced
mining on the Tom's Gully gold mine in Australia.

On May 3, 2005, PT Petrosea Tbk and Renision Consolidated Mines
NL entered into an Alliance Agreement to develop and operate an
underground gold mining and processing operation at Tom's Gully
gold mine. The mining lease is located 90km south east of Darwin
in the Northern Territory and has previously been mined by open
cut methods.

Project financing is in place and development of the main
decline has now commenced. Gold production is expected to
commence in March 2006 upon recommissioning of the carbon-in-
leach gold processing plant, which is currently being
refurbished.

David Singleton, CEO and Managing Director of Clough Limited
said; "This is a significant step for Petrosea. Being the
company's first mining venture outside Indonesia it is part of a
wider mining strategy for Petrosea to broaden its scope, taking
responsibility for the Group's mining activities."

The Tom's Gully Alliance is an innovative contracting agreement,
which enables Renison and Petrosea to operate seamlessly at the
mine site, trough a 50/50 owned company, Tom's Gully Mining Pty
Ltd. Under the agreement Petrosea is responsible for providing
underground mining expertise and capital equipment, while
Renison provides the mining lease and the process plant. Tom's
Gully Pty Ltd. employs the workforce and manages the day-to-day
operations.

As part of the Alliance relationship, Petrosea has taken a
strategic equity investment in Renision. In September 2004,
Renison announced a loan of AU$1 million by Petrosea to Renison
to perform the feasibility study. This loan has been converted
to equity of eight million shares in Renison. An additional AU$1
million has been invested in 400,000 March 2007 convertible
notes, with each note convertible to 20 ordinary shares.

The mine is projected to produce approximately 45,000 ounces of
gold per annum from 250,000 tonnes of processed ore per annum.

Petrosea and Renison are committed to building upon this
relationship and will jointly evaluate opportunities for other
mining projects, both in Australia and overseas.

CONTACT:

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


DESIGN KNIT: Schedules Final Meeting October 12
-----------------------------------------------
Notice is given that a final meeting of the members and
creditors of Design Knit Pty Limited will be held on Oct. 12,
2005, 10:00 a.m. in the Meeting Room, HLB Mann Judd, Chartered
Accountants, Level 1, 160 Queen Street, Melbourne.

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

Dated this 15th day of August 2005

P. Newman
Liquidator
HLB Mann Judd
Chartered Accountants
Level 1, 160 Queen Street
Melbourne


DJ&GM BRASSELL: Members Opt for Voluntary Liquidation
-----------------------------------------------------
Notice is hereby given that at an Extraordinary General
Meeting of DJ&GM Brassell Investments Pty Limited held on Aug.
25, 2005, the following resolutions were passed:

That the Company be wound up voluntarily; and

That Schon G. Condon and Bruce Gleeson be appointed Liquidator
for such winding up.

Dated this 7th day of September 2005

Schon G. Condon
Bruce Gleeson
Joint Liquidators
Jones Condon Chartered Accountants
1/34 Charles Street
Parramatta NSW 2150


FB KANE: Liquidator to Distribute Company Assets
------------------------------------------------
At a General Meeting of FB Kane Pty Limited held on Aug. 29,
2005, the following Special Resolution was passed:

That the Company be wound up as a Members' Voluntary
Liquidation, and that its assets be distributed (in whole or in
part) to the members in specie, should the liquidator so desire.

Dated this 30th day of August 2005

Barry J. Tognola
Liquidator
WHK-TCM Smith
22 Walker Street
Townsville Qld 4810


GREATLANDS GENERAL: Set to Declare Dividend
-------------------------------------------
Greatlands General Insurance Company Limited will declare a
first and final dividend on Oct. 7, 2005.

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

Dated this 28th day of July 2005

Andrew Fielding
Liquidator
PPB Chartered Accountants & Business Reconstruction Specialists
Level 4, 31 Sherwood Road
Toowong Qld 4066
Phone: 07 3371 7244
Fax:   07 3371 7311


HULMOS PTY: Inability to Pay Debts Prompts Wind Up
--------------------------------------------------
Notice is hereby given that at an Extraordinary General
Meeting of Hulmos Pty Limited held on Aug. 30, 2005, the
following Special Resolution was passed:

That as it is unable to pay its debts within 12 months, the
Company be wound up voluntarily.

Chris Chamberlain of Nicholls & Co. Chartered Accountants, Suite
103, 1st Floor, Wollundry Chambers, Johnston Street, Wagga
Wagga, NSW was appointed Liquidator of the Company.

Dated this 31st day of August 2005

Chris Chamberlain
Liquidator
Suite 103, 1st Floor, Wollundry Chambers
Johnston Street, Wagga Wagga NSW 2650


ISSAC CONSTRUCTION: Court Orders Winding Up
-------------------------------------------
On Sept. 1, 2005, the Supreme Court of New South Wales, Equity
Division ordered that Issac Construction Plus Pty Limited be
wound up, and appointed Steven Nicols to be Liquidator for the
winding up.

Steven Nicols
Liquidator
Level 2, 350 Kent Street
Sydney NSW 2000


LITTLE SHOP: Members to Get Wind Up Report
------------------------------------------
Notice is hereby given that a general meeting of the members of
The Little Shop of Potions Pty Limited will be held on Oct. 12,
2005, 10:00 a.m. at the office of Grosvenor Schiliro Chartered
Accountants, Level 2, 333 George Street, Sydney to consider the
conduct of the winding up, the disposal of the Company's assets
and the liquidator's final statement of receipts and payments.

Dated this 26th day of August 2005

Mark Schiliro
Liquidator
Grosvenor Schiliro
Chartered Accountants
Level 2, 333 George Street
Sydney


MASTERS OF ARABICA: Court Issues Winding Up Order
-------------------------------------------------
On Aug. 30, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of Masters of Arabica Pty
Limited, and appointed Steven Nicols to be the Official
Liquidator of the Company.

Steven Nicols
Liquidator
Level 2, 350 Kent Street
Sydney NSW 2000


MAYNE GROUP: Court to Decide on AU$4-Bln Demerger
-------------------------------------------------
A high court will decide on Friday whether to approve the Mayne
Group's AU$4-billion demerger proposal, The Australian reports.

The Supreme Court of Victoria will consider the demerger plan,
as well as the release of the explanatory memorandum.

Friday's hearing comes as potential buyers signify their
interest Mayne's domestic healthcare business and international
pharmaceuticals division.

Rival Sigma, international private equity firm Ironbridge
Capital and Apax are reportedly keen on the firm's businesses.

Last month, Mayne confirmed that it had "received unsolicited
proposals" from parties interested in acquiring various parts of
the group.

But the drug firm stressed it does not intend to sell any parts
of the business prior to the break-up in late December.

Mayne's board remained convinced that a demerger is the best
strategy for delivering value to its shareholders.

CONTACT:

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


MYER LIMITED: Parent Mulls Debt Deal
------------------------------------
Coles Myer is looking at ways to make the stores operated by
department store chain Myer Limited more attractive to buyers,
The Australian reports.

The retail giant is considering a completed debt package to lure
financial or private equity buyers. It believes that a
structures financial package, for possible inclusion in the Myer
information memorandum, could assist potential buyers.

Sources said the inclusion package is one of the reasons why the
memorandum will be issued later than originally expected -
probably next week.

Private equity players generally seek to maximize their
leverage, and potential profit, by loading up the asset with as
much debt as possible.

Between 13 and 17 private equity outfits are believed to have
expressed interest in Myer.

The main lenders for aggressive private-equity deals are
National Australia Bank, Credit Suisse First Boston, Deutsche
Bank and ANZ Bank. Speculation about possible buyers has
centered on private equity groups like CVC Asia Pacific,
Newbridge Capital and Catalyst Investment Managers. South
African retailer Edgars Consolidated has also signaled an
interest.

Coles revealed late last month that Myer had suffered a 46
percent fall in 2005 earnings before interest and tax from
AU$71.9million to AU$38.7 million.

CONTACT:

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

or

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


NIRVANA PROPERTIES: Appoints Official Liquidators
-------------------------------------------------
Notice is given that at a general meeting of the members of
Nirvana Properties Pty Limited held on Aug. 17, 2005, Susan
Carter and Jason Bettles, Registered Liquidators of Downie
Insolvency, Level 6, Fifty Cavill Avenue, Surfers Paradise,
Queensland were appointed Liquidators of the Company.

Dated this 9th day of September 2005

Jason Bettles
Susan Carter
SUSAN CARTER
Liquidators
Downie Insolvency
Level 6, Fifty Cavill Avenue
Surfers Paradise, Queensland


NORTH-SOUTH MARKETING: Enters Liquidation
-----------------------------------------
Notice is hereby given that at a general meeting of North-South
Marketing Pty Limited held on Aug. 31, 2005, the following
Special Resolution was passed:

That the Company be wound up voluntarily.

Dated this 5th day of September 2005

Jennifer M. Hamley
Liquidator
Castle Corporate Services Pty Limited
26 Ellingworth Parade, Box Hill
Phone: 03 9898 6666


NPK INVESTMENTS: Members Resolve to Wind Up Business
----------------------------------------------------
Notice is hereby given that on Aug. 31, 2005, the following
special resolution was passed:

That NPK Investments Pty Limited be wound up voluntarily by
creditors, and that B. J. Marchesi, Chartered Accountant of 332
St. Kilda Road, Melbourne be appointed Liquidator of the
Company.

Dated this 31st day of August 2005

B. J. Marchesi
Liquidator
Bent & Cougle
Chartered Accountants
Level 5, 332 St. Kilda Road
Melbourne Vic 3004


PLACER DOME: Arizona Star Releases Default Notice
-------------------------------------------------
Arizona Star (TSX VENTURE:AZS) announced Tuesday that, in
cooperation with Bema Gold Corporation, it has notified Placer
Dome Inc. that Placer Dome Inc. is in default of its obligations
under the Shareholders' Agreement governing the Cerro Casale
project.

On September 27, 2005, Placer Dome advised Arizona Star and Bema
Gold of its conclusion that the Cerro Casale project is not
financially viable at this time and is not financeable under the
terms of the Shareholders' Agreement.

Arizona Star believes that Placer Dome has failed to perform its
obligations under the Shareholders' Agreement and the Updated
Feasibility Study Agreement. In particular, Arizona Star
believes that Placer Dome has failed to use its reasonable
commercial efforts to arrange financing for Cerro Casale in the
amounts and on the terms which are reasonable and customary for
projects of this kind. Arizona Star also claims that Placer Dome
has failed to complete an updated feasibility study and has
failed to optimize the Cerro Casale project, both as required in
its contractual agreements with Arizona Star and Bema Gold.

Pursuant to the terms of the Shareholders' Agreement, Placer
Dome now has 30 days to remedy these defaults. If the defaults
have not been remedied within 30 days, Arizona Star and Bema
Gold intend to take all necessary steps to have Placer Dome's
interest in Cerro Casale returned to them.

Arizona Star holds a 25% interest in the Cerro Casale gold-
copper project located in Chile. Placer Dome holds a 51%
interest in the project and is the operator. Bema Gold holds the
remaining 24%.

Some of the statements contained in this release are forward-
looking statements, such as estimates and statements that
describe the Company's future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Since forward-
looking statements address future events and conditions, by
their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.

Arizona Star Resource Corp. trades on the TSX Venture Exchange
under the symbol AZS.

The TSX Venture Exchange neither approves nor disapproves the
info rmation contained in this News Release. Arizona Star
Resource Corp. tr ades on the TSX Venture Exchange under the
symbol AZS.

CONTACT:


Arizona Star Resource Corp.
Paul Parisotto, President and CEO
Phone: (416) 369-9333
Web site: http://www.arizonastar.com

Pacer Dome Inc.
Suite 1600, Bentall IV
1055 Dunsmuir Street
(PO Box 49330,
Bentall Postal Station)
Vancouver, B.C. Canada V7X 1P1
Phone: (604) 682-7082
Web site: http://www.placerdome.com


PLACER DOME: Bema Issues Notice of Default
------------------------------------------
Bema Gold Corporation (TSX:BGO)(AMEX:BGO)(AIM:BAU) (Bema)
announces that, pursuant to the terms of the Compania Minera
Casale (CMC) Shareholders' Agreement (the Shareholders'
Agreement), Bema and Arizona Star Resource Corp. (Arizona Star)
have received a certificate from Placer Dome Inc. ("Placer") on
September 27, 2005 regarding the financeability of the Cerro
Casale project. The certificate ("Certificate A") states that
Placer has determined that the Cerro Casale project is still not
financeable under the terms of the Shareholders' Agreement.

Bema and Arizona Star question the foundation for the issuance
of Certificate A and have given Placer notice of default under
the Shareholders' Agreement. Bema and Arizona Star have
identified several areas in which Placer is in default of the
Shareholders' Agreement and if Placer fails to remedy these
defaults within 30 days (from October 3, 2005), as specified in
the Shareholders' Agreement, Bema and Arizona Star intend to
pursue arbitration with a view to reclaiming Placer's 51%
interest in the Cerro Casale project.

The Cerro Casale deposit (Bema 24%, Arizona Star 25%, Placer
51%) is one of the world's largest undeveloped gold and copper
projects. A feasibility study completed by Placer Dome Technical
Services Limited in January 2000 and updated in March, 2004
outlined estimated measured and indicated mineral resources of
approximately 25.4 million ounces of gold and 6.4 billion pounds
of copper.
  
CONTACT:

Bema Gold Corporation
Ian MacLean Manager, Investor Relations
Phone: (604) 681-8371
E-mail: investor@bemagold.com

Bema Gold Corporation
Derek Iwanaka, Investor Relations
Phone: (604) 681-8371
E-mail: investor@bemagold.com
Web site: http://www.bema.com


PLACER DOME: Responds to Bema Notice of Default
-----------------------------------------------
On October 3, 2005, Placer Dome Inc. received a Notice of
Default under the Shareholders' Agreement for the Cerro Casale
project in Chile from Bema Gold Corporation (Bema), one of the
participants in the project. Also on October 3, 2005, Placer
Dome received a letter from Arizona Star Resource Corporation
(Arizona Star), the other participant in the project, confirming
its support for Bema's Notice of Default.

Placer Dome disagrees with the allegations contained in Bema's
Notice of Default. Receipt of the Notice of Default initiates a
30-day period within which time any default may be remedied.

Placer Dome has concluded the Cerro Casale project is not
financeable under the terms of the Shareholders' Agreement.
Placer Dome has presented a proposal to Bema and Arizona Star to
evaluate alternate development scenarios for the project. The
Cerro Casale project is owned indirectly by Placer Dome (51%),
Bema (24%) and Arizona Star (25%).

Placer Dome employs 13,000 people at 16 mining operations in
seven countries. The Vancouver-based company's shares trade on
the Toronto, New York, Swiss and Australian stock exchanges and
Euronext-Paris under the symbol PDG.


PLASMET PTY: Members Decide to Close Operations
-----------------------------------------------
Notice is hereby given that at a general meeting of the members
of Plasmet Pty Limited held on Sept. 22, 2005, the following
resolutions were passed:

SPECIAL RESOLUTION

That the Company be wound up voluntarily.

ORDINARY RESOLUTION

That Elsie Amy Gedge of 77 Crescent Road, Newport NSW 2106 be
appointed Liquidator for such winding up.

Elsie A. Gedge
Liquidator
77 Crescent Road
Newport NSW 2106


RESTACO PTY: Members Resolve to Wind Up Firm
--------------------------------------------
Notice is given that at a meeting of the creditors of Restaco
Pty Limited held no Aug. 30, 2005, it was resolved that the
Company be wound up and that Geoffrey Trent Hancock of Horwath
Sydney Partnership, Level 10, 1 Market Street, Sydney NSW 2000
be appointed Liquidator.

Dated this 31st day of August 2005

G. T. Hancock
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000
Phone: 9372 0777
Fax:   9372 0606


RMG LIMITED: Directors Face Class Action
----------------------------------------
A group of creditors and shareholders of collapsed debt
collector RMG Limited may file a class action suit against
former directors of the company, The Independent has learned.

Australian law firm Maurice Blackburn Cashman (MBC) is
reportedly considering a shareholder class action against either
the directors or the company. Several NZ shareholders had
already registered their interest.

Dual-listed RMG was placed in voluntary administration in April
after a five-year history of losing money.

The group's administrator, PPB, in its second report to
creditors, examined a range of offences that might have been
committed at RMG, starting with directors' duty to prevent
trading while insolvent.

Although RMG managers admitted "stretching out" creditors in the
three months before the administration, it appeared the main
operating company, RML, hadn't been allowed to trade while
insolvent.

The administrators, Rod Slattery and Wayne Benton, also examined
a range of other possible causes of action.  Some have been
referred to PPB's legal advisers for opinions.  

In addition to possible insolvent trading, the matters are:
possible breach of directors' "care and diligence" obligations;
possible uncommercial transactions; and a check on the adequacy
of disclosure and due diligence undertaken in relation to a
January 2005 rights issue.  

Under Australian law, the directors of a company can be sued by
creditors only if the company is in liquidation.

RMG's creditors will now have to choose between a "deed of
company arrangement" or a liquidation.

CONTACT:

PPB
Melbourne
Level 10
90 Collins Street
Melbourne VIC 3000
Postal
Level 10
90 Collins Street
Melbourne VIC 3000
Phone: 03 9654 1517
Fax: 03 9654 1515
E-mail: general@ppbvic.com.au
Web site: http://www.ppb.com.au/


SALAMANCA SOFTWARE: Members Decide to Cease Ops
------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Salamanca Software Pty Limited held on Aug. 30, 2005, it was
resolved that the Company be wound up voluntarily, and that John
William Woods, Chartered Accountant of 30 Davey Street, Hobart,
Tasmania 7000 be appointed Liquidator for the winding up.

Dated this 31st day of August 2005

John W. Woods
Liquidator
Wilson Woods & Partners
Chartered Accountant
30 Davey Street, Hobart TAS 7000
Phone: 03 6223 4343


SAM'S SEAFOOD: Administrators Provide Update to Creditors
---------------------------------------------------------
Andrew Fielding and Julie Williams, Joint and Several
Administrators of Sam's Seafood Holdings Limited of the company,
advised that the first meeting was held on 27 May 2005, where
creditors resolved not to appoint a committee nor to replace the
current administrators.

Following this, an application was made to the Supreme Court of
Queensland to have the convening period extended due to the
complexities of the administration.  The Court has approved a
90-day extension.

Following the end of the convening period, a Report to Creditors
will be issued outlining the future prospects of the company and
the second creditors meeting.

Should you have any queries with regards to this matter, please
do not hesitate to contact Michelle Latham of this office on 07
3371 7244.

This announcement is dated October 5, 2005.

CONTACT:

Sam's Seafood Holdings Limited
43 Holt St Eagle Farm
Australia
Phone: (07) 3131 4100
Fax: (07) 3268 5231
Web site: http://www.sams.com.au/


SOUTH COAST: Distributes Dividend to Creditors
----------------------------------------------
South Coast Bricklaying Pty Limited will declare a first and
final dividend on Oct. 7, 2005.

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

Dated this 27th day of July 2005

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


STOKE GABRIEL: Placed Under Voluntary Liquidation
-------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Stoke Gabriel Investments Pty Limited held on Aug. 30, 2005, it
was resolved that the Company be wound up voluntarily, and that
Murray Campbell Smith and S. C. Davies be appointed Liquidator
for such purpose.

Dated this 2nd day of September 2005

S. C. Davies
Murray C. Smith
Liquidator
c/o McGrathNicol+Partners
Level 11, 115 Grenfell Street
Adelaide SA 5000
Phone: 08 8468 3700
Web site: http://www.mcgrathnicol.com.au/

TELSTRA CORPORATION: CSFB's Upgrade Pushes Up Shares
----------------------------------------------------
Telstra Corporation's dwindling share price received a boost
after a major broking house upgraded the telecom's profit
outlook, Sydney Morning Herald reports.

Credit Suisse First Boston's (CSFB) new rating for Telstra was
based on the "significant cost savings" that could flow from a
multi-billion transformation of the network.

The broker estimated Telstra could comfortably reduce its labor
costs alone by AU$1 billion, slashing 8000 jobs from its
workforce of 46,000, by following the lead of its overseas peers
and investing in a next generation network (NGN).

CSFB's Justin Cameron said the implementation of the NGN may
result in ongoing savings of AU$1.2 billion by the 2010
financial year.

CSFB believes NGN will be critical to offsetting the pressure on
the revenue side of the telecom's business. Expanded services
that an NGN would enable is also important.

A mid-November announcement by Telstra Chief Executive Sol
Trujillo is also predicted to include an NGN - sometimes
referred to an Internet Protocol (IP) network - which can run
voice, data and multimedia services. This would simplify
Telstra's physical network and supporting infrastructure, and
reduce its reliance on its staff of 20,000 technicians. Telstra
employs 3000 people just to manage the 160 different billing
systems it uses, according to CSFB.

One downside of the new initiatives will be the bill. The NGN is
expected to cost AU$5 billion and will raise Telstra's capital
expenditure in the medium term. One-off restructuring charges
could add another AU$900 million.

This makes it unlikely that Telstra will be able to continue
with the final leg of its three-year AU$4.5 billion capital
return to shareholders.

The sale of fringe assets could help Telstra offset some of the
increased investment, with CSFB predicting the Hong Kong mobile
subsidiary could be sold off with a price tag of between AU$1.6
billion and AU$1.8 billion.

Credit Suisse First Boston raised its earnings estimates for
Telstra by 7.5 percent for the 2007 financial year and 15.2
percent for 2008. The broker also upgraded its recommendation on
the stock from Neutral to a Buy and lifted its price target by
48c to AU$4.78.

CONTACT:

Telstra Corporation
Level 41 - Telstra Centre, 242 Exhibition Street,
Melbourne , Victoria, Australia, 3000
Telephone: (03) 9634 6400
Fax: (03) 9632 3215
Web site: http://www.telstra.com.au/


TELSTRA CORPORATION: Faces Payphone Scrutiny
--------------------------------------------
The telecommunications watchdog has stepped up efforts to
monitor Telstra Corporation amid concerns about the longer
period it takes for the telco to repair its payphones in the
bush, The Australian says.

The Australian Communications and Media Authority (ACMA) said
that while Telstra has improved its overall repair times for
payphones in rural and remote areas, it still had some concerns
about an increase in faults taking more than a week to fix.

ACMA's report released Tuesday revealed that Telstra repaired 86
per cent of its 133,061 rural payphone faults in 2004/05 within
two days, despite the number of problems rising by 152 per cent.
The number of problems which took eight or more days to fix,
however, rose by 173 percent to 3,422.

The watchdog said it would monitor Telstra's performance in
fixing problem payphones in remote areas during the next 12
months.

By comparison, Telstra repaired 91 percent of the 470,079
payphone faults in urban areas within two days, compared to 89
percent in 2003/04.

Despite ACMA's concerns about Telstra's payphone repairs in the
bush, the watchdog lauded the telco for its performance in
connecting and repairing phone lines within certain timeframes
in the past financial year.


WESTMOUNT PTY: Liquidator to Explain Wind Up to Members
-------------------------------------------------------
Notice is given that a final meeting of the members of Westmount
Pty Limited will be held on Oct. 12, 2005, 10:00 a.m. at the
offices of Hudson & Sibbick Pty Limited, Suite 1, Level 10, 1-5
Railway Street, Chatswood, New South Wales, 2067, to present the
Liquidator's account showing the manner of the winding up and
disposal of the property of the Company, and to hear any
explanation that may be given by the Liquidator.

Dated this 26th day of August 2005

E. P. Groombridge
Liquidator
C/o Hudson & Sibbick Pty Limited
Suite 1, Level 10, 1-5 Railway Street
Chatswood NSW 2067


WR & SM INDUSTRIES: Declares First, Final Dividend
--------------------------------------------------
WR&SM Industries Pty Limited will declare a first and final
dividend on Oct. 6, 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

Danny Vrkic
Liquidator
Jirsch Sutherland & Co - Wollongong
Chartered Accountants
Level 3, 6-8 Regent Street
Wollongong NSW 2500
Phone: 02 4225 2545
Fax:   02 4225 2546


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

BEIJING MEDIA: Notes Unusual Price Movement
-------------------------------------------
The Stock Exchange of Hong Kong has received a message from
Beijing Media Corporation Limited, which is reproduced as
follows:

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

The company have noted the recent decreases in the price of the
shares of the Company and wish to state that, other than the
matters disclosed in the announcement of the Company dated 3
October 2005, we are not aware of any reasons for such
decreases.

Beijing Media also confirm that there are no negotiations or
agreements relating to intended acquisitions or realizations
which are disclosable under Rule 13.23, neither is the board
aware of any matter disclosable under the general obligation
imposed by Rule 13.09, which is or may be of a price-sensitive
nature.  

Made by the order of Beijing Media Corporation Limited the Board
of the directors of which, other than Mr. Wu Changqi who was not
reachable at the time of issuing this message, individually and
jointly accept responsibility of the accuracy of this statement.

By Order of the Board
Zhang Yanping
Chairman

Beijing, PRC, 4th October 2005

CONTACT:

Beijing Media Corporation Limited
24/F, Prince's Building
Central, Hong Kong


BEIJING HUABANG: Korean Lotte Buys Up Chinese Beverage Firm
-----------------------------------------------------------
Korea's largest beverage maker Lotte Chilsung Beverage has
acquired a 100-percent stake in Chinese beverage maker Beijing
Huabang Food for some KRW3 billion (US$3 million), Ditigal
Chosun Ilbo reports.

The Chinese beverage market is estimated at KRW15 trillion
(US$15 billion) a year.

Established in 1995, Beijing Huabang Food is ranked within the
top 20 in China's industry. But due to financial difficulties,
it currently operates a mere 20 percent of its annual production
capacity of 60,000 tons of beverages, mainly juice and mineral
water.

CONTACT:

Beijing Huabang Food Company Ltd.
Baishiqiao Road No. 45
(In western gate of Zizhu Park)
Haidian District, Beijing
China  
Phone: 10-68466247
Fax no.:  10-68481982
Web site:  http://www.huabangfood.com.cn
           http://www.4059.tradebig.com


CHEUNG HING: Court Releases Winding Up Order
--------------------------------------------
Cheung Hing Electrical Machine Company Limited whose place of
business is located at 311 Lai Chi Kok Road, G/F, Kowloon was
issued a winding up order notice by the High Court of the Hong
Kong Special Administrative Region Court of First Instance on
September 21, 2005.

Date of Presentation of Petition: July 25, 2005

Dated this 30th day of September 2005

ET O'Connell
Official Receiver


CHI WAH: Ordered to Cease Operations
------------------------------------
Chi Wah Engineering Company Limited whose place of business is
located at 2nd Floor, 8A Heng Mei Deng Villate, Mang Kung Uk,
Sai Kung, New Territories was issued a winding up order notice
by the High Court of the Hong Kong Special Administrative Region
Court of First Instance on September 21, 2005.

Date of Presentation of Petition: July 26, 2005

Dated this 30th day of September 2005

ET O'Connell
Official Receiver


CHINA SCIENCES: Confirms Top Execs Arrested
-------------------------------------------
The board of China Sciences Conservational Power Limited refers
to the press release published by the Independent Commission
Against Corruption (ICAC) on September 29, 2005 in relation to
the arrest of 22 individuals for alleged corruption over
misappropriation of funds from listed companies (alleged
matters) and certain press reports subsequent to the press
release on the alleged matters claiming that Messrs. Hon Ming
Kong, Chan Tat Chee and Chow Ho Tung Anthony have been arrested.

The board announces that it is seriously looking into the
matters. Necessary actions (including but not limiting to the
appointment of independent accountants to conduct a special
review on the company) will be taken as and when appropriate in
due course. The Company will keep its shareholders informed of
the progress and further announcement will be made, if
necessary.

Trading in the shares of the company has been suspended with
effect from 9:30 a.m. on September 29, 2005 and will remain to
be suspended until further notice.

CONTACT:

China Sciences Conservational Power Limited
Unit 3618, 36/F
China Merchants Tower
Shun Tak Centre
200 Connaught Road Central
Hong Kong  
Phone: 28778382  
Fax: 28778819


DRAGON SUNNY: Prepares to Wind Up Business
------------------------------------------
Dragon Sunny Development whose place of business is located at
Shop Nos 80-80A Basement, Hunghom Square, 37-41 Ma Tau Wai Road,
Hunghom, Kowloon was issued a winding up order notice by the
High Court of the Hong Kong Special Administrative Region Court
of First Instance on September 21, 2005.

Date of Presentation of Petition: July 25, 2005

Dated this 30th day of September 2005

ET O'Connell
Official Receiver


HONGKONG CONSTRUCTION: Court Grants Proposed Reorganization
-----------------------------------------------------------
The Board of HongKong Construction (Holdings) Limited announced
that the Court has granted an order confirming the Proposed
Reorganization at the court hearing held on September 30, 2005
and the effective date of the proposed reorganization will be on
October 5, 2005, being the date of registration of the Order of
the Court together with the minute approved by the Court.

As a result of the implementation of the proposed
reorganization, the company would be able to eliminate all
accumulated losses and improve its financial position as well as
to allow the company to distribute its profit (if any) in the
future.

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

CONTACT:

Hong Kong Construction (Holdings) Limited
801-802 East Ocean Centre
98 Granville Road, Kowloon,
Hong Kong
Phone: 23693949
Fax: 27212526
Web site: http://www.hkconstruction.com


KIN HING: Discharge from Bankruptcy Looms
-----------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Lam Keung trading as
Kin Hing Polybags Factory (the bankrupt), will be discharged
from bankruptcy on March 6, 2006, in the absence of any
objections from their trustee in bankruptcy or creditors.

The bankrupts' creditors have the right to object to their
discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 26th day of September 2005.

ET O'Connell
Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 2867 2448
Fax: 3105 1814
Web site: http://www.info.gov.hk/oro/


LONG KING: Poised to Exit Bankruptcy Next Year
----------------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Chan Yiu Kai trading as
Long King Shoes Company (the bankrupt), will be discharged from
bankruptcy on January 9, 2006, in the absence of any objections
from their trustee in bankruptcy or creditors.

The bankrupts' creditors have the right to object to their
discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 26th day of September 2005.

ET O'Connell
Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 2867 2448
Fax: 3105 1814
Web site: http://www.info.gov.hk/oro/


SUN HING: To Wind Up Operations
-------------------------------
Sun Hing Maintenance Engineering Limited whose place of business
is located at Rm 17, 25/F, Tak On House, Hau tak Est Tseung Kwan
O, Kowloon was issued a winding up order notice by the High
Court of the Hong Kong Special Administrative Region Court of
First Instance on September 21, 2005.

Date of Presentation of Petition: July 25, 2005

Dated this 30th day of September 2005

ET O'Connell
Official Receiver


TEAMARK TOYS: Joint, Several Liquidators Appointed
--------------------------------------------------
Li Man Wai and Wong Wai Ching of Room 1001, 10th Floor, Tai Yau
Building, 181 Johnston Road, Wanchai, Hong Kong hereby give you
notice that we have been appointed as Joint and Several
Liquidator of Teamark Toys Limited on September 7, 2005 by an
order of the High Court of the Hong Kong Special Administrative
Region.

Dated this 23rd day of September, 2005

LI MAN WAI
WONG WAI CHING
Joint and Several Liquidators


TRANSMATE SERVICES: May Exit Bankruptcy in 2006
-----------------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Li Chi Leung trading as
Transmate Services Co. (the bankrupt), will be discharged from
bankruptcy on March 6, 2006, in the absence of any objections
from their trustee in bankruptcy or creditors.

The bankrupts' creditors have the right to object to their
discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 26th day of September 2005.

ET O'Connell
Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 2867 2448
Fax: 3105 1814
Web site: http://www.info.gov.hk/oro/


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

DCM FINANCIAL: Details Scheme of Arrangement
-----------------------------------------------
DCM Financial Services Ltd has informed Bombay Stock Exchange
(BSE) that the Secured Creditors / Banks & Institutions at their
meeting held on September 26, 2005 have approved the modified
Scheme of arrangement with requisite majority.

Consequent to the above, the company has filed Confirmation
Petition on September 27, 2005. The said Confirmation Petition
was heard on September 28, 2005 and the Honorable Court has
issued notices to Official Liquidator, Regional Director,
Department of Company Affairs returnable on December 12, 2005.
The Honorable Court has also invited objection, if any, from the
creditors & members of the Company.

CONTACT:

DCM Financial Services Ltd
79, Amrit Nagar, NDSE Part-1
City New Delhi  
Pincode 110003  
State Delhi  
Phone: 24642570 24642571 24642572 24642573/ 74  
Fax: 24640885   


INDIAN OIL: Noble Explochem Secures Order
-----------------------------------------
Noble Explochem Ltd has informed BSE that on October 04, 2005
the Company has received an order from Indian Oil Corporation
Ltd.(IOC), for supply of the product CETANE IMPROVER.

This product is used by Indian Oil Corporation Ltd., its
subsidiaries and associates for improving the quality of diesel
manufactured by them. The order is of a minimum size of 2290 MT.
currently valued at about Rs 200 million. There is a clause in
the tender under which the Indian Oil Corporation Ltd., can
place a repeat order on same unit prices, terms and conditions.

Last year for the first time the Company received an order for
1250 MT under which tender the Indian Oil Corporation Ltd.,
actually purchased 2500 MT guided by the same proviso of repeat
order. As a matter of strategy last year the Company obtained
the order at very unremunerative prices to gain entry and
recognition. This margin also could not be recovered because the
raw material prices being petro based shot up abnormally. This
year therefore the Company has already partly tied up for the
raw material and has obtained a price increase of about 20% over
last tender prices. The size of the market for the Company's
above product both in India and abroad is expanding rapidly.
Substantial efforts are being made by the Company to harness the
complete potential of the product. It is heartening that the
above order has been obtained despite facing stiff competition
from the multinationals.

CONTACT:

Noble Explochem Ltd
1261/A-11, Wardha Road, Ramkrishna Nagar
City Nagpur  
Pincode 440015  
State Maharashtra  
Phone: 2242966 2242968 2242942   
Fax: 2241779

Indian Oil Corporation Limited
G-9 Ali Yavar Jung Marg Bandra East
INDIAN OIL BHAVAN
Mumbai, MAHARASHTRA 400 051
INDIA
Phone: +91 22 26427363/26423272
Fax: +91 22 26443880
Web site: http://www.iocl.com


ISIBARS LIMITED: Board Meeting Fixed October 10
-----------------------------------------------
Isibars Ltd has informed BSE that a meeting of the Board of
Directors of the Company will be held on October 10, 2005, inter
alia, to consider and approve the following:

1. The Audited Balance Sheet as March 31, 2005 and Profit & Loss
account for the financial year ended March 31, 2005 and cash
flow statement with schedules thereto and the notes on Accounts.

2. To file reference and to Report erosion of more than 100% of
the Net Worth of the Company to the Board for Industrial and
Financial Reconstruction of the Company (BIFR).

3. To file an application in the High Court of Bombay under
section 391 and 100 of the Companies Act, 1956 for the
restructuring of the secured debts and reduction of share
capital of the Company as per the approved CDR Scheme of the
Company.

4. To decide the Date of closure of the Registrar of Members and
the Share transfer Books of the Company.

5. To fix time, place and date of holding the 18th Annual
General Meeting of the members of the Company.

CONTACT:

Isibars Ltd
C 63, MIDC Estates, TTC Area, Turbhe
City Navi Mumbai  
Pincode 400705  
State Maharashtra  
Phone: 27686437 27670424    
Fax: 27633888


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

DIRGANTARA INDONESIA: Dismissed Workers Demand Severance Pay
------------------------------------------------------------
Hundreds of dismissed employees of state-owned aircraft
manufacturer PT Dirgantara Indonesia (DI) demanded their
severance pay from the government in a protest held on Oct. 4,
2005, reports the Jakarta Post.

According to protest coordinator M. Sidharta, the Bandung
District Court had ruled in their favor, and had ordered the
Company to distribute the proper severance payments to the
dismissed workers. Mr. Sidharta implored the Company's aid in a
speech, asking to help ease their suffering due to increased
fuel prices and higher costs of living.

The Central Committee for the Settlement of Labor Disputes had
ruled that DI could terminate some 2,000 workers on the
condition that the Company distribute more than double the
severance pay that is given to a fired worker. This meant that
DI had to pay the workers a total amount of IDR160 billion in
severance pay.

However, the Company was financially unable to pay such amount,
prompoting the dismissed employees to seek legal action in
court. Mr. Sidharta said that they would continue to protest
until the Company gives them the proper severance pay, as
indicated by the committee.

CONTACT:

PT Dirgantara Indonesia
Jl. Pajajaran no. 154 Bandung 40174,
Indonesia
Phone: 62-22-6034562, 62-22-6010754, 62-22-6010759
Fax:   62-22-6019538, 62-22-6075671, 62-22-6031696
Email: infosales@indonesian-aerospace.com
Web site: http://www.indonesian-aerospace.com


PERTAMINA: Ups Fuel Prices for Industry by 16%
----------------------------------------------
State-owned oil and gas firm PT Pertamina plans to raise market
fuel prices for industry users by 16% this month after recent
hurricanes in the U.S. raqised concerns on a supply shortage,
the Jakarta Post reports.

According to Pertamina fuel division chief Achmad Faisal, the
price of premium gasoline will increase from IDR5,160 per liter
to above IDR6,000 per liter, while diesel fuel prices will rise
from IDR5,350 per liter to above IDR5,700 per liter. Kerosene
will be sold for IDR6,200 per liter, fuel oil will selll at
IDR3,500 per liter and diesel oil will sell at IDR5,500 per
liet.

The new fuel prices, which were set to be imposed this week, are
pending approval from the Company's board of directors.

On Oct. 1, 2005, the Indonesian government raised fuel prices by
a total of 126.6%, and has removed fuel quotas for industries,
except for small enterprises and fishermen with boats that weigh
less than 30 gross weight tons.

Mr. Faisal added that as the U.S. is still recovering from
hurricanes, global fuel prices might remain high even if crude
oil prices were to drop.

Even with the price hike, daily fuel consumption was lower than
the normal 180,000 kiloliters to 190,000 kiloliters per day.
Indonesia only consumed 67,000 kilolieters on Oct.2, and 120,000
kiloliters on Oct.3, but this is probably due to the people
consuming fuel that they had been storing in anticipation fo the
planned increase.

Pertamina is still looking for two fuel cargoes (1 million
barrels of fuel) for this month's supply levels to be at the
safe 22-day stock level.

CONTACT:

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


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

MINEBEA CO.: S&P Revises Rating Outlook to Negative
---------------------------------------------------
Standard & Poor's Ratings Services revised the outlook on its
long-term corporate credit rating to positive from stable on NSK
Ltd., and to negative from stable on Minebea Co. Ltd. At the
same time, Standard & Poor's affirmed its 'BBB-' long-term
rating on NSK and 'BBB' long-term rating on Minebea.

"The outlook on the long-term rating on NSK was revised to
positive based on its improving profitability and financial
profile, while the outlook on Minebea was revised to negative
due to sluggish performance of its electronic devices segment,"
said Standard & Poor's credit analyst Junko Miyakawa.

NSK has been aggressively reducing costs and debt, and focusing
its efforts on automobile-related products, which have smaller
fluctuations in demand in the bearings business. As a result,
the company's profitability and financial profile have improved.
Recently, NSK's sales volume and operating margins have grown,
backed by favorable performance of industrial machinery products
due to a recovery in capital expenditure and rising demand for
automobile-related products.

NSK may be upgraded if the company further improves and
stabilizes its cash flow and makes further progress in reducing
debt, underpinned by its improving profitability. One of the key
factors for an upgrade includes NSK's ability to maintain a
ratio of funds from operations (before adjusting for changes in
working capital) to debt at over 20% over the medium- to long-
term.

Minebea is expected to record its third consecutive year of
losses in fiscal 2005 (ending March 31, 2006) in its electronic
devices business, which includes small motors and keyboards.
Given its high exposure to rapid technological change and
pricing pressures, it will be difficult for the company to
revive the segment's profitability over the next 1-2 years.

Although Minebea maintains strong competitiveness and a stable
earnings base in its bearings business, losses in its electronic
devices business have dragged down company-wide profit. The
rating on Minebea may be lowered if the profitability of the
electronic devices business does not recover over the next 1-2
years, the asset quality of the electronic devices business is
further impaired, and downside concerns over company-wide
profits increase.

CONTACT:

Minebea CO Limited
8-1 Shimo-Meguro 1-Chome
Meguro-Ku 153-8662, Tokyo 153-0664
JAPAN
Phone: +81 3 5434 8611
Fax: +81 3 5434 8603


MITSUBISHI FUSO: Launches Next Generation Medium-Duty Truck
-----------------------------------------------------------
Mitsubishi Fuso Truck & Bus Corporation (MFTBC) has launched the
next generation of its medium-duty truck "Fighter" for the Japan
market. The vehicle, used in a wide variety of commercial
applications, features a newly designed cab and exterior.

It is the first new product version developed by the company as
an integrated part of DaimlerChrysler's Commercial Vehicles
Division.

"The new `Fighter' is indicative of the positive forward
momentum of Mitsubishi Fuso," said Harald Boelstler, MFTBC
President & CEO. "With this product, we demonstrate our focus on
safety, quality and reliability for our customers. It also
showcases the resources and capabilities available to us as part
of DaimlerChrysler."

The new "Fighter" is now available at Mitsubishi Fuso
dealerships across Japan. It is built at the company's Kawasaki
Manufacturing Plant.

Also this week, MFTBC introduced an updated version of the
light-duty truck Canter on October 3. The new vehicle complies
with the latest rear under-run protector and lamp regulations.
The Canter is Fuso's best-selling vehicle in Japan and overseas.

The product introductions closely follow a major exhibition of
the company's hybrid vehicle technology activities in Europe.

From Sept. 19-30, Mitsubishi Fuso demonstrated its advanced
vehicle systems during DaimlerChrysler Commercial Vehicle's
"Technology Days" in Papenburg, Germany. The event was a
showcase of 50 research and development topics on the subjects
of safety, the environment and technology.

On display by Mitsubishi Fuso were the light-duty Canter HEV
(hybrid electric vehicle) and Aero HEV urban bus. These
pioneering vehicles are designed to reduce emissions and fuel
consumption. The company plans to produce hybrid vehicles for
the Japan market in 2006 and is evaluating them for other
countries. Mitsubishi Fuso is the competence center for light-
duty HEV activities within the DaimlerChrysler Commercial
Vehicles group.

MFTBC, a fully consolidated subsidiary of DaimlerChrysler AG, is
one of Asia's leading commercial vehicle manufacturers. With
headquarters in Tokyo and over 16,000 employees, the company had
global sales of 179,200 trucks and buses in fiscal year 2004.

DaimlerChrysler AG owns 85% of MFTBC shares. The remaining 15%
of shares continue to be held by various Mitsubishi group
companies. Mitsubishi Fuso is an integral part of
DaimlerChrysler's Commercial Vehicle Division.  

CONTACT:

Mitsubishi Fuso Truck & Bus Corporation
2-16-4, Kounan, Minato-ku,
Tokyo 108-8285, Japan
Global Communication
Phone: +81-3-6719-4889
Fax: +81-3-6719-0104
Web site: http://www.mitsubishi-fuso.com


MITSUBISHI MOTORS: Extends U.S. Gas Incentive
---------------------------------------------
Mitsubishi Motors North America, Inc., (MMNA) announced that, as
a result of overwhelming consumer interest, the Gas Comes
Standard fuel card program would be extended to include selected
2006 model-year vehicles. Previously, the offer of a year's
worth of gasoline was offered on only new 2005 model-year
vehicles.

"Based on the enthusiastic interest in Gas Comes Standard
expressed by American consumers, we have decided to allow
customers to take advantage of this innovative incentive on the
purchase of 2006 Endeavors and 2006 Galants," said David
Schembri, executive vice president of sales and marketing at
Mitsubishi Motors North America. "The promotion has obviously
struck a positive chord with consumers."

Each customer after purchasing any new 2005 model-year
Mitsubishi vehicle, 2006 Endeavor, or 2006 Galant will receive
in the mail pre-paid debit cards, totaling from $1,500 to
$2,500. The amount varies by vehicle depending on two factors:

1.) The estimated amount of gas required to drive the new
vehicle for 12,000 miles (at the EPA combined rating for the
vehicle).

2.) Whether the recommended fuel for the vehicle is regular
(computed at $2.80 per gallon) or premium (computed at $3.10 per
gallon).  These rounded prices were fixed at the average price
per gallon as reported in the AAA daily fuel report of Monday,
September 19, 2005.

Customers can select from a variety of major motor oil companies
for each debit card.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, and research and
development operations of the Mitsubishi Motors Corporation in
the United States. Mitsubishi Motors sells coupes, convertibles,
sedans and sport utility vehicles through a network of
approximately 570 dealers.

For more information, contact the Mitsubishi Motors News Bureau
at (888) 560-6672 or visit media.mitsubishicars.com.

CONTACT:

Mitsubishi Motors North America, Inc.
6400 Katella Ave.
Cypress, CA 90630-0064  
Phone: 714-372-6000
Fax: 714-373-1020


MYCAL CORPORATION: Set to End Rehab Proceedings This Year
---------------------------------------------------------
Mycal Corporation, which is restructuring under the umbrella of
Aeon Co., said it would complete its rehabilitation by the end
of December, seven years ahead of schedule, Asia Pulse reports.

The struggling retailer is speeding up the process so that it
can start opening stores in fall 2006.

Of the roughly JPY200 billion (US$1.7 billion) that it owes, it
plans to repay the remaining JPY50 billion or so by the end of
the year, at which time the Tokyo District Court will declare an
end to the rehabilitation proceedings.

Mycal collapsed in September 2001 with total debts of JPY1.8
trillion. It first filed for bankruptcy protection from
creditors under the Civil Rehabilitation Law, but then switched
to proceedings under the Corporate Rehabilitation Law.

CONTACT:

Mycal Corporation
2-9 Awaji-machi 2-Chome
Chuo-ku, Osaka 541-8555, Osaka 541-8555
JAPAN
Phone: +81 6 6203 5072
Fax: +81 6 6203 6387


NANKAI ELECTRIC: R&I Downgrades Rating to BBB-
----------------------------------------------
Rating and Investment Information, Inc. (R&I), has downgraded
the rating of Nankai Electric Railway Co. Ltd. to BBB- from BBB.
The rating outlook is stable.

With the exception of redevelopments in Osaka's Namba district,
the outlook is bleak for housing sales, shopping centre
operations, leasing of boat race facilities and the other
businesses that the company is involved in along the routes it
operates.

R&I have downgraded the rating one notch to BBB- reflecting its
concern about the decline in earning power due to these factors.
R&I is concerned that there will be a vicious cycle in which the
fragility of businesses along the company's routes further
exacerbates the declining number of passengers.

The company's area is the district encircled by the two lines it
operates stretching south from Namba in the centre of Osaka
Minami. These two lines are the Nankai Main Line, which goes
through the Senshu district and on to Wakayama City, and the
Koya Line, which passes through Minami Kawachi and ends at Koya
San. The Rinkan Denen Toshi (Hashimoto City, Wakayama) a major
residential district developed by the company, lies on the Koya
Line, and is heavily undersold.

The falling property prices in Osaka as well as the location -
Wakayama Prefecture - have left Rinkan Denen Toshi an
increasingly unattractive option for house purchasers. As sales
struggle, it will probably be a long time before the company is
able to recover its investment.

Kumatori-Tsubasagaoka, a new town development in Sennan City,
will be severely hit by the crossthe- board fall in the Sennan
area's property prices. Sales will improve if the company lowers
house prices, but they will find it difficult to maintain a
margin. The shopping centre operations in or around stations are
also facing a stark situation. Major commercial facilities have
been opened near the company's shopping centers in Sakai, Izumi-
Otsu, Kawachi Nagano, and Shin Kanaoka on the Osaka Subway;
tenant sales in these shopping centers are starting to shrink.

At Suminoe, the Kansai region's premier boat race venue, sales
have been in continuous decline for the past few years. There is
little prospect of a recovery in either of these businesses, and
rental income will probably continue to be slack for an extended
period.

The falling number of profit-earning opportunities along the
company's routes is one of the factors behind the continued
decline in income from train fares. R&I focus on the balance
between income from train fares and debt for the analysis of the
creditworthiness of railway companies. Because Nankai Electric
Railway's capital investment in the second phase of the Nanba
redevelopment will continue despite diminishing revenue from
train fares, any reduction in its debt will become sluggish, and
it will be difficult for them to achieve a better balance.

Sales at Namba Parks, a commercial facility in the first phase
of the Namba redevelopment, are currently outperforming the
initial plan. Their break-even point is low because the
redevelopment is the site of the former Osaka Stadium, which the
company already owned. For the time being, brisk profits can be
expected from the Namba redevelopment.

CONTACT:

Nankai Electric Railway Co. Ltd
1-60 Nanba 5-Chome
Chuo-Ku Osaka 542-8503, Osaka 542-8503
JAPAN
Phone: +81 6 6644 7121
Fax: +81 6 6644 7123


SEIYU LIMITED: Wal-Mart Raises Stake to 50%
-------------------------------------------
On September 30, Seiyu Limited announced to issue new shares to
the value of JPY115 billion and will allocate them to Wal-Mart
Stores, Inc. and Mizuho Corporate Bank, Ltd. and others, Rating
and Investment Information reports.

The capital increase will make the Wal-Mart's interest in Seiyu
to increase to over 50% by the end of 2005, and Seiyu will
become a consolidated subsidiary of Wal-Mart. Seiyu is planning
to issue new ordinary and preferred shares, however, the amount
as well as the terms and conditions have not been concluded at
this moment.

In addressing Seiyu's creditworthiness, R&I has been already
taking into account of Wal-Mart's intention for making Seiyu its
subsidiary. Therefore, there are no changes to the rating of
Seiyu's commercial paper, which is currently at a-3.

There are no disclosures over the amount of Seiyu's impairment
write-offs and losses due to the closure of outlets; therefore,
there remains a possibility that the effect of the capital
increase to be offset. R&I is paying attention to Seiyu's
business plan including its strategy for outlets, as well as the
decision of the extraordinary meeting of shareholders planned in
December 2005.

CONTACT:

Seiyu Limited
1-1 Akabane 2-Chome
Sunshine 60 Building
Kita-Ku 115-0045, Tokyo 170-6071
JAPAN
Phone: +81 3 3598 7639
Fax: +81 3 3598 7763  
Web site: http://www.seiyu.co.jp


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

CITIBANK KOREA: Union Cries Breach of CBA
-----------------------------------------
Citibank Korea Inc. unionized workers filed a complaint against
the bank's president for breach of collective bargaining
agreement (CBA), relates Asia Pulse, citing Yonhap News.

The KorAm union complaint stated that Ha Yung-gu failed to
change the status of some non-regular employees to regular,
which was part of the collective bargaining agreement between
the union and management in December.

Mr. Ha stated in the agreement that by the second half of 2005
around five percent of the bank's irregular employees status
will be changed as part of efforts to strengthen the merger.

Recently, the union threatened to stage a strike if demands for
wage increase among others would not be met.

Citibank Korea was launched in November following Citigroup's
acquisition of KorAm Bank in April 2004 for US$2.6 billion.  
There are two labor unions at Citibank Korea, one represents
KorAm workers and the other one standing for employees at its
ex-branch.  

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
===============

AMTEL HOLDINGS: Unit Subscribes Equity Interest in MUSB
-------------------------------------------------------
Amtel Holdings Berhad (AHB) furnished Bursa Malaysia Securities
Berhad details of the subscription of 30 percent equity interest
in Milan Utama Sdn Bhd (MUSB) by Amtel Communications Sdn Bhd
(the Subscription).

(1) Introduction

The Board of Directors of AHB advised that, its wholly owned
subsidiary, Amtel Communications Sdn Bhd (ACSB) had, on October
3, 2005, subscribed for 18,000 new ordinary shares of MYR1/-
each amounting to a subscription price of MYR18,000/-
representing 30 percent of the enlarged issued and paid-up share
capital of 60,000 shares in MUSB.

(2) Information on MUSB

MUSB was incorporated in Malaysia as a private limited company
under the Companies Act, 1965 on August 22, 2005 and is
currently dormant. The current authorized share capital of MUSB
is MYR100,000/- comprising 100,000 ordinary shares of MYR1/-
each. Prior to the Subscription, MUSB's existing issued and
paid-up share capital is MYR42,000/- comprising 42,000 ordinary
shares of MYR1/- each held by:

Name of                 % equity held*      No. of shares
Shareholder

Dato' Ismail
Bin Mamat                   35.0               21,000

En. Mocktar
Bin Mansor                  35.0               21,000

Total                                          42,000

* against enlarged issued shares of 60,000

Both Dato' Ismail Bin Mamat and En. Mocktar Bin Mansor are not
substantial shareholders or directors of the Company or its
group of companies. However, Dato' Ismail Bin Mamat holds
1,256,666 shares in AHB as at the date of this Announcement.

With ACSB's subscription of 18,000 new ordinary shares in MUSB,
the issued and paid-up share capital of MUSB has been increased
to MYR60,000/- comprising 60,000 ordinary shares of MYR1/- each.

MUSB will be principally engaged in the trading and distribution
of products, project implementation and management for
telecommunication products, software, radio frequency
identification detector, navigational products and information
computer technology products and is currently dormant.
(3) Payment Terms and Sources of Funding

The subscription price of MYR18,000/- is paid in cash, financed
by internally generated funds of ACSB.

(4) The Rationale for The Subscription

As part of the Group's strategies to formulate new business
strategies, the Subscription will enable ACSB to explore new
business opportunities in various projects and contract works
through participating in a Bumiputera company, especially in the
trading and distribution of telecommunications related products.

(5) Liabilities to be Assumed

There are no liabilities to be assumed by ACSB arising from the
Subscription.

(6) Financial Effects

The Subscription is not expected to have any material effect on
the net tangible assets per share of AHB Group based on the
latest audited consolidated balance sheet as at November 30,
2004. The Subscription will not have any material effect on AHB
Group's earnings per share for its financial year ending
November 30, 2005.

The Subscription by way of cash will not have any effect on the
issued and paid-up share capital and substantial shareholders'
shareholdings of AHB.

(7) Approval of Shareholders and Relevant Government Authorities

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

(8) Directors' and Major Shareholders' Interests

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

(9) Statement by the Board of Directors:

The Directors of AHB are of the opinion that the Subscription of
the 30 percent equity interest in MUSB is in the best interest
of AHB and its group of companies.

This Announcement is dated 3 October 2005.

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

CONTACT:

Amtel Holdings Bhd
Malaysia
Phone: 60 3 5632 2449
Fax: 60 3 5637 0042


DATUK KERAMAT: Lapse Prompts Trading Halt
-----------------------------------------
Bursa Malaysia Securities Berhad advised that Datuk Keramat
Holdings Berhad has yet to release its annual report for the 15
months financial period ended December 31, 2004 which was due on
June 30, 2005.

In this respect, trading in the Company's shares would be
suspended with effect from 9:00 a.m., Monday, October 3, 2005
pursuant to Paragraph 16.02(c) of the Listing Requirements.
However, in view that the trading in the Company's shares has
been suspended since August 1, 2005, hence the suspension will
continue until further notice.

CONTACT:

Datuk Keramat Holdings Berhad
16B 3rd Floor
Jalan 14/20 Section 14
46100 Petaling Jaya
Malaysia
Phone: 03-79588166
Fax: 03-79566766


GOLD BRIDGE: Sets Out Reasons for Default
-----------------------------------------
Gold Bridge Engineering & Construction Berhad (GBE) issued to
Bursa Malaysia Securities Berhad an announcement pursuant to
Practice Note 1/2001 (PN1) of the Bursa Malaysia Securities
Berhad's Listing Requirements (LR).

(1) Introduction

Pursuant to Paragraph 9.03 and 9.04(1) of the LR, the Board of
Directors advised that an event of default in payments set out
in Table 1 by the Company's wholly owned subsidiary, Aseania
Development Sdn Bhd (ADSB) had occurred.

(2) The reasons for the default in payments

The property sales of ADSB were slowing down due to buyers'
market has taken cautious steps on property investment. Thus,
the cash flow of ADSB is temporary affected.

There are some Monthly Installments in arrears of certain loan
to the banks/financial institutions as the cash flow of ADSB
from operations was only able to meet operational needs.

(3) The steps taken or proposed to be taken by the Group to
address the default in payments

The Group is currently negotiating with the banks/financial
institutions to restructure the loan borrowings and is confident
at reaching an amicable settlement with them.

(4) The financial and legal implications

Click to view details of the financial implications on the
default
http://bankrupt.com/misc/Goldbridge100205.pdf

As fixed charges have been created in favor of the respective
Banks as mentioned in Table 1 to secure the banking facilities
granted to ADSB, the Banks reserve the rights to crystallize the
said charges in accordance with the terms as set out in the
respective charge documents.

However, in view of the tight cash flow of ADSB is merely a
temporary issue and is expected to be resolved in near future,
hence the Group does not foreseen any legal action to be taken
by the Banks against ADSB since it was only default in some
installments as detailed in Table 1 and the Group is still
continuing to settle the said installments.

(5) In the event the default is in respect of secured loan
stocks or bonds, the lines of action available to the guarantors
or security holders against the listed issuer

Not applicable.

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

Not applicable.

(7) Default in payment constitutes an event of default under a
different agreement for indebtedness (cross default)

All indebtedness as stipulated in Table 1 as such does not have
any cross default.

This announcement is dated 3 October 2005.

CONTACT:

Gold Bridge Engineering & Construction Berhad   
Metro Building 214 & 215,
Jalan Negara 2, Taman Melawati,
Kuala Lumpur Wilayah Persekutuan 53100
Telephone: 03-41069301   
Fax: 03-41069337


HAP SENG: Issues Share Buy Back Notice
--------------------------------------
Hap Seng Consolidated Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:  

Date of buy back: October 3, 2005

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

Total number of shares purchased (units): 4,200

Minimum price paid for each share purchased (MYR): 2.160

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

Total consideration paid (MYR): 9,274.91

Number of shares purchased retained in treasury (units): 4,200

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

Cumulative net outstanding treasury shares as at to-date
(units): 33,414,400

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


MBF HOLDINGS: Court to Hear Appeal April 2006
---------------------------------------------
MBf Holdings Berhad issued to Bursa Malaysia Securities Berhad
an update to the Kuala Lumpur High Court Suit No.D3-22-1497-2004
MBf Holdings Berhad (MBfH) & four others (the Plaintiffs) versus
MBf Leasing Sdn Bhd (the Defendant).

Further to the announcement on September 27, 2005, MBfH advised
that the Court has fixed the hearing of the appeal by the
parties as follows to April 12, 2006:

(1) Plaintiffs' appeal against the decision of summary judgment
entered against MBfH and MBf Trading Sdn Bhd.

(2) Defendant's appeal against the stay of execution which was
granted to MBfH and MBf Trading Sdn Bhd on September 1, 2005.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad
Ding Lien Bing
Company Secretary
3 October 2005

CONTACT:

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


PAN PACIFIC: To Carry Out Proposed Restructuring Scheme
-------------------------------------------------------
Further to the announcement made by Avenue Securities Sdn Bhd on
behalf of Pan Pacific Asia Berhad dated September 30, 2005, the
Board of Directors of PPAB advised Bursa Malaysia Securities
Berhad that the Company has lodged a copy of the Order obtained
from the High Court of Malaya in Shah Alam pursuant to Section
176(3) and Section 64 of the Companies Act, 1965 to the
Companies Commission of Malaysia.

With the lodgment, the Company will proceed to implement the
Proposed Restructuring Scheme.

CONTACT:

Pan Pacific Asia Bhd
5 Jalan SS 21/39 Damansara Uptown
Unit No. 602b Level 6, Tower B, Uptown 5
47400 Petaling Jaya, Selangor Darul Ehsan 47400
Malaysia
Telephone: +60 3 7727 8168
Fax: +60 3 7727 1622  
Web site: http://www.dno.no


PARK MAY: Bank Seeks More Time to Complete Proposed Scheme
----------------------------------------------------------
In line with PN4 of the Bursa Securities' Listing Requirements
which requires an announcement on the status of an affected
listed issuer's plan to regularize its financial condition to be
made on the first market day of each month, AmMerchant Bank
Berhad (a member of AmInvestment Group) (AmMerchant Bank), on
behalf of Park May Berhad, disclosed that there has been no
significant development in respect of the plan to regularize the
Park May group of companies' financial position (Proposed
Restructuring Scheme).

The company also refers to the Company's announcement dated July
13, 2005 where it was announced that an application was
submitted to the Securities Commission (SC) on July 8, 2005 for
an extension of time of three (3) months from July 27, 2005
until October 26, 2005 for the Company to implement and complete
the Proposed Restructuring Scheme.

In this respect, the company advised that AmMerchant Bank, on
behalf of the Company, had on September 12, 2005 submitted a
revised application to the SC for an extension of time of five
(5) months from July 27, 2005 until December 26, 2005 for the
Company to complete the Proposed Restructuring Scheme. The
application is still pending the SC's decision.

The announcement is dated 3 October 2005.

CONTACT:

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


POLY GLASS: In Talks with Auditors Re Qualifications
----------------------------------------------------
In compliance with the requirements of Paragraph 3.1(b) of
PN17/2005, Poly Glass Fibre (M) Bhd disclosed to Bursa Malaysia
Securities Berhad that it is still in the process of examining
ways, including discussion with the Company's auditors, Messrs
KPMG, to overcome the auditors' qualifications as stated in the
financial statements of the Company for the financial year ended
February 28, 2005.

Dated this 3rd day of October 2005.

CONTACT:

Poly Glass Fibre (M) Bhd.   
2449, Lorong Perusahaan 10,
Kawasan Perusahaan Prai,
Perai Penang 10600
Malaysia
Telephone: 04-3908460   
Fax: 04-3996197


POS MALAYSIA: Issues New Shares for Listing, Quotation
------------------------------------------------------
POS Malaysia & Services Holdings Berhad advised that its
additional 176,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employee Share Option Scheme will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Wednesday, October 5, 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


PROMTO BERHAD: SC Junks Restructuring Proposal
----------------------------------------------
Public Merchant Bank Berhad, on behalf of Promto Berhad,
unveiled to Bursa Malaysia Securities Berhad that the Securities
Commission (SC), had via its letter dated September 28, 2005,
which was received on September 30, 2005, had not approved the
Proposed Restructuring Scheme of PB in view that the Vendors of
PSMAR had not displayed satisfactory corporate governance.

The Boards of Directors of PB and PSMAR will deliberate on the
next course of action and an announcement will be made in due
course.

CONTACT:

Promto Berhad
Lot 13A-2, Level 13A
Menara Milenium
Jalan Damanlela
Damansara Heights
50490 Kuala Lumpur
Telephone: 03-271 02332
Fax: 03-271 02662
Web site: http://www.promto.com


PUNCAK NIAGA: Concludes First Issuance of Medium Term Notes
-----------------------------------------------------------
Puncak Niaga Holdings Berhad updates Bursa Malaysia Securities
Berhad on the issuance of up to MYR200 million nominal value Bai
Bithaman Ajil Commercial Papers (CP) Programme (BBA CP
Programme) and up to MYR3 billion Nominal Value Bai Bithaman
Ajil Medium Term Notes (MTN) programme (BBA MTN Programme)
(Collectively BBA Programmes) by Syarikat Bekalan Air Selangor
Sdn Bhd (SYABAS), a 70 percent-owned subsidiary of the company.

The company refers to the announcement dated September 12, 2005
pertaining to the BBA Programmes by SYABAS.

On behalf of Puncak, Commerce International Merchant Bankers
Berhad (CIMB) advised that on September 30, 2005, SYABAS has
completed the first issuance of MTN pursuant to the BBA MTN
Programme with an aggregate nominal value of MYR1.03 billion
comprising:

(i) An 8-year MYR310 million nominal value tranche;

(ii) A 9-year MYR200 million nominal value tranche;

(iii) A 10-year MYR200 million nominal value tranche; and

(iv) An 11-year MYR320 million nominal value tranche.

This announcement is dated 3 October 2005.

CONTACT:

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


SINORA INDUSTRIES: Reviews Plan to Regularize Condition
-------------------------------------------------------
On behalf of Sinora Industries Berhad, Commerce International
Merchant Bankers Berhad advised that the Board of Directors of
the company is still deliberating on the possible plans to
regularize Sinora's condition.

Sinora will announce the Regularization Plan as defined in
paragraph 8.14C(3) of the Listing Requirements of Bursa
Securities, to Bursa Securities upon finalization.

This announcement is dated 3 October 2005.

CONTACT:

Sinora Industries Berhad
Likas Bay
Kota Kinabalu, 88817
Malaysia
Telephone: +60 88 326 572
Fax: +60 88 432 104


TALAM CORPORATION: Warrants Set for Removal from Bourse
-------------------------------------------------------
Talam Corporation Berhad issued the following announcements to
Bursa Malaysia Securities Berhad.

(i) Talam's Warrants will expire at 5:00 p.m., on Wednesday,
November 9, 2005.

(ii) Trading in Talam's Warrants will be suspended with effect
from 9:00 a.m., Thursday, October 20, 2005 in order to
facilitate the final exercise of the Warrants.

(iii) Talam's Warrants will be removed from the Official List of
Bursa Securities with effect from 9:00 a.m., Thursday, November
10, 2005.

CONTACT:

Talam Corporation Berhad
5th Floor, Wisma Talam
52 Jalan Kampung Attap
50460 Kuala Lumpur, WP
Malaysia
Phone: 603-2732222
Fax: 603-2731439


TANCO HOLDINGS: Court OKs Request to Convene Meeting
----------------------------------------------------
Tanco Holdings Berhad issued the following announcements to
Bursa Malaysia Securities Berhad.

(1) Monthly announcement on default in payment of interest and
principal sums by the company and certain of its subsidiaries
(the Group) pursuant to Practice Note 1/2001 (PN1/2001).

(2) Monthly announcement on the status of plan to regularize its
financial condition pursuant to Practice Note 17/2005
(PN17/2005).)  

In relation to the status of default in payment pursuant to PN
1/2001, the Board of Directors of the Company informed the
Exchange that there is no change to the status of default in
payments of interest and principal sums to the Lenders since our
last announcement made.

In compliance with the requirements of Paragraph 3.2 of PN1/2001
and Paragraph 3.1(b) of PN17/2005, the Company advised that
since its last announcement dated September 1, 2005 on the
matter, the High Court of Malaya in Kuala Lumpur had, on
September 19, 2005, granted an order to the Company and its
affected subsidiaries to hold a court convened meeting pursuant
to Section 176 of the Companies Act 1965.

The meetings for the scheme creditors can be convened in Kuala
Lumpur on or before 13 January 2006 or within such other period
as may be extended by the Honorable Court.

This announcement is dated 3 October 2005.

CONTACT:

Tanco Holdings Berhad
Jalan Desa Bandar Country Homes
48000 Rawang, Selangor Darul Ehsan 48000
Malaysia
Telephone: +60 3 6092 8333
Fax: +60 3 6091 3188


TELEKOM MALAYSIA: Bourse to Grant Listing, Quotation of Shares
--------------------------------------------------------------
Telekom Malaysia Berhad advised that its additional 95,000 new
ordinary shares of MYR1.00 each issued pursuant to the Employee
Share Option Scheme will be granted listing and quotation by
Bursa Malaysia Securities Berhad with effect from 9:00 a.m.,
Wednesday, October 5, 2005.

CONTACT:

Telekom Malaysia Berhad
Level 51, North Wing, Menara Telekom,
Off Jalan Pantai Baharu
50672 Kuala Lumpur, Malaysia  
Phone: +60-3-2240-9494
Fax: +60-3-2283-2415S


UNITED CHEMICAL: Proposed Restructuring Scheme Still Unchanged
--------------------------------------------------------------
Further to United Chemical Industries Berhad's announcement
dated September 8, 2005, Alliance Merchant Bank Berhad, on
behalf of the Board of Directors of UCI, advised that there is
no new development to the Proposed Restructuring of UCI.

This announcement is dated 3 October 2005.

CONTACT:

United Chemical Industries Berhad   
20th Floor, West Wing,
IGB Plaza, Jalan Kampar,
Kuala Lumpur
Wilayah Persekutuan 50400
Malaysia
Telephone: 03-40420488   
Fax: 03-40448711
Web site: http://www.uci.com.my


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

ATLAS CONSOLIDATED: Mine Rehabilitation Going Well
--------------------------------------------------
Atlas Consolidated Mining and Development Corporation's (the
Company) ongoing pre-contract facility repair and rehabilitation
program at its Carmen Copper Mine has made substantial progress
towards bringing forward the project to the next stage of
development.

The Company reported that its reconstruction works covering a
number of major surface facilities are ahead of schedule and
their completion is expected by the end of October 2005.

The rehabilitation of the old Administration building is already
in the finishing stage. Refurnishing and equipping the restored
offices and appurtenant facilities is expected to follow suit.
By early November, the company's administrative and technical
service personnel presently quartered at the interim Staff
Clubhouse will transfer to the newly reconstructed facility. It
should be recalled at this former administrative center was
gutted by fire last December 27, 2004.

Cleaning and repair of the main structures and roofing of the
Carmen crusher and grinding sections' buildings are 90%
complete. Adie from protecting the crushers and ball mills from
the natural elements, improved conditions of the buildings will
pave the way for progressive reconditioning and rehabilitation
of the mill equipment that are scheduled 1st quarter of 2006.

At the underground First Lift complex, the headframe of the DAS
main shaft is also undergoing extensive repair and
reconditioning. Old steel braces and lateral members were
replaced, derusted, and/or repainted. As scheduled, this will
likewise be completed by the end of October. Earmarked to follow
this work is the reconditioning of the hoist facility and
eventual dewatering of the underground mine.

AVI, subsidiary construction company of Atlas, was contracted in
undertaking the facility rehabilitation and improvement jobs.

In the light of the current pre-contract rehabilitation work
being carried out, a fitting ceremony is planned in early
November 2005 to inaugurate the new Administration building that
will set the ground for a full-scale rehabilitation of the whole
Carmen Copper Project.

CONTACT:

Atlas Consolidated Mining and Development Corporation
7/F, Quad Alpha Centrum
125 Pioneer St., Mandaluyong City
Phone No:  635-2387/4495
Fax No:  633-3759; 634-2312
E-mail Address:  acmdcmla@info.com.ph


COLLEGE ASSURANCE: Hits Watchdog's Directive
--------------------------------------------
College Assurance Plans Philippines Inc. (CAP) criticized an
order issued by the corporate watchdog, directing the ailing
pre-need firm to submit its audited financial statements,
according to The Philippine Star.

The Securities and Exchange Commission (SEC) on September 28
served a subpoena duces tecum on CAP's former auditor, CGM &
Co., requiring the submission of CAP's financial statements for
Dec. 31, 2003.

But CAP said the regulator's move is a "veiled fishing
expedition" in order to obtain evidence that may be used against
the pre-need firm. The firm insisted that there is no basis for
SEC's directive and is only meant to harass the pre-need
provider.

CAP legal counsel Gilbert Reyes of the Poblador, Bautista &
Reyes law office cited Sec. 53 of the Securities Regulation Code
which states that any person requested or subpoenaed to produce
documents or testify in any investigation shall simultaneously
be notified in writing of the purpose of such investigation.

Considering that there is no legal basis and justification to
require the submission of the working papers, Mr. Reyes said
they are withholding their consent to the production of any of
their clients' records in their care and trust unless expressly
authorized by the rehabilitation court.

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


GILLAMAC LIFE: Needs to Explain Trust Fund Shortfall
----------------------------------------------------
The corporate regulator has directed Gillamac Life & Pension
Plans Inc. to explain its failure to address its trust fund
deficiency, according to BusinessWorld.

The Securities and Exchange Commission issued a show-cause order
against the pre-need firm for violating pre-need rules through
its failure to solve its fund shortfall and inability to meet
its monthly trust fund contribution.

The Company, controlled by Cecilio V. Gillamac of Cebu City, has
8,107 planholders. Its actuarial reserve liability is Php49.55
million against a trust fund of Php37.91 million. Its trust fund
deficiency stands at Php11.63 million.

Gillamac is the latest among pre-need firms, which were issued
show-cause orders by the SEC for violating pre-need rules.

The nontraditional instruments and securities department of the
SEC monitors the performance of pre-need firms as part of
continuing efforts to prevent the industry's collapse and stop
smaller players from ending up like pre-need leaders College
Assurance Plans (Philippines), Inc., Pacific Plans, Inc., and
Platinum Plans Philippines, Inc., which filed for rehabilitation
as they fail to meet maturing obligations due to uncontrolled
tuition increases.


LEPANTO CONSOLIDATED: NLRC Hands Down Decision on Labor Issue
-------------------------------------------------------------
Lepanto Consolidated Mining Co. advised that in a Decision dated
September 22, 2005, the National Labor Relations Commission
(NLRC) ruled that the termination of the nineteen (19) Lepanto
Employees Union (LEU) officers who participated in the illegal
strike at the Lepanto mines from June to September 2005 "was
effected in faithful compliance with the law and existing
jurisprudence on the matter".

The enforcement of the termination is already fait accompli in
view of the Memorandum of Agreement between Lepanto and the LEU
whereby the 19 union officers had expected severance of their
employment.

CONTACT:

Lepanto Consolidated Mining Co.
21st Floor, Lepanto Building
8747 Paseo de Roxas
1226 City of Makati
Telephone No. 815-9447
Fax: 63 (2) 812-0451/63 (2) 810-5583
E-mail: mis@lepantomining.com
Web site: http://www.lepantomining.com


MAYNILAD WATER: Consuji's Bid to Take Stake Hits Snag
-----------------------------------------------------
An attempt by Consuji-led DMCI Holdings Inc. acquire the
interest of a French firm in water concessionaire Maynilad Water
Services Inc. has encountered a roadblock, according to The
Manila Times.

DMCI said it will review its options to buy out Maynilad after
French firm Ondeo Holdings refused to unload its stake in the
water distributor.

Ondeo reportedly wanted a higher bid for its 16-percent Maynilad
interest. DMCI offered an 18-percent to 20-percent discount for
loans but Ondeo wanted a higher loan discount of 24 percent to
26 percent.

DMCI Chief Finance Officer Herbert Consuji said Ondeo is already
hinting at the possibility of liquefying its Maynilad share,
especially since it is the foreign firm's last investment in the
Philippines.

But despite the issue, DMCI is still keen on fully acquiring
Maynilad. Once the consortium formed between DMCI, Japan-based
Marubeni and Australia-based Macquarie Inc. chooses to be more
aggressive in its bid to take over Maynilad, Consunji said that
the group would be willing to buy at an amount the parties
involved can agree upon.

Earlier, Marubeni asked for more than a 20-percent stake in
Maynilad but DMCI said that this may not be effected unless
Ondeo's stake is also bought by the consortium.

State-run Metropolitan Waterworks Sewerage System, which now
holds majority stake in Maynilad, has yet to release the terms
of reference of its planned sale of the water utility.

CONTACT:

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


NATIONAL HOME: Sison Appointed New President
--------------------------------------------
Lawyer Joseph Peter "Jopet" S. Sison was appointed as the new
president of the beleaguered National Home Mortgage Finance
Corporation.

Prior to his appointment, Mr. Sison was the assistant general
manager since March 2001 of the National Housing Authority, the
government's production arm for low-cost and socialized housing
units.

A staunch legal advocate for the underprivileged, Sison has been
a trustee and legal consultant of both Sison & Associates Law
Firm and Ipaglaban Mo Foundation, an institution rendering free
legal advice to radio listeners, through its "Ikaw at ang Batas"
sa Radyo Veritas; and to televiewers through its' "Ilaw at ang
Batas," and "Ito ang Batas," a five-minute legal segment on
television, narrating the facts and stating the pertinent laws
and decisions on legal cases.

Elected as city councilor, he served the 4th District of Quezon
City from June 1992 to June 1995, where he was assistant
minority leader of the Quezon City Council; chairman of the
committee on transportation; and of the committee on labor and
conciliation.

Reelected as city councilor in June 1995, Sison served up to
1998, in various capacities, as assistant majority floor leader
of the Quezon City Council; chairman of the Blue Ribbon
committee; and of the committee on police, peace and order,
among other positions.

Jopet Sison finished his elementary, high shcool and collegiate
studies at the Ateneo de Manila University, where he completed
his B.S. Management degree, and went on to secure his Bachelor
of Laws degree at Manuel L. Quezon University in 1992.

CONTACT:

National Home Mortgage Finance Corporation
Filomena III Bldg., 104 Amorsolo St.,
Legaspi Village Makati City
Telephone: 892-5146 / 892-5430


SM EQUICOM: Closes Doors After 20 Years
---------------------------------------
Mounting losses have forced information and technology firm SM
Equicom Computer Services Inc. to permanently cease 20 years of
operations, Today News reveals.

The Company, co-owned by retail magnate Henry Sy, ended
operations on August 31, 2005 due to continuing financial woes.

Ricardo S. Martinez, DOLE-National Capital Region director, said
his unit received the closure letter of SM Equicom, and
forwarded it to the Statistics Division, which confirmed receipt
of the same.

The Securities and Exchange Commission (SEC), however, has yet
to receive a notice of dissolution from the company.

Records at the SEC's Company Registration and Monitoring
Department showed the company's last annual financial statement
was filed April 2004.

In its 2003 financial statement, the company still posted a net
income of P3.52 million from earnings of Php4.11 million in
2002. Its revenues had risen to Php505.15 million in 2003 from
Php468.76 million in 2002.

The company's expenses had grown to Php495.76 million from
Php458.65 million over the same period. This was mainly due to
higher cost of sales at Php419.62 million and higher operating
expenses at Php76.15 million.

The company posted higher other charges, instead of other
income, worth Php3.53 million in 2003 from Php2.91 million in
2002.

Its receivables, inventories and prepaid expenses and other
current assets had risen to Php24.87 million, Php23.48 million
and Php5.25 million.

The company was engaged in the sale and lease of computers,
parts and supplies. Its average number of employees ran to 120
in 2002 and 2003.

CONTACT:

SM Equicom Computer Services Inc.
G/F ODC Bldg., 219 Salcedo St.,
Legaspi Village, Makati City
Phone: 632-8133801 - 09
Fax: 632-8156130 / 632-8193117


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

BOON CHANG: Court Issues Winding Up Order
-----------------------------------------
In the matter of Boon Chang Engineering & Construction Pte
Limited, the Singapore High Court issued a winding up order
against the Company on Sept. 23, 2005, with the following
details:

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

Dated the 23rd day of September 2005

Messrs. Lee Bon Leong & Co.
Solicitors for the Petitioner


CITIRAYA INDUSTRIES: Appoints New Director
------------------------------------------
Citiraya Industries Limited announced that the Company has
appointed Mr. Tan Boon Hwee as its Non-Executive Director
efective Oct. 3, 2005.

By Order of the Board

Tan San-Ju
Company Secretary  

CONTACT:

Citiraya Industries Limited
65 Tech Park Crescent
Singapore 637787
Phone: 65 62644338
Fax:   65 62666731
Web site: http://www.citiraya.com


FIRSTLINK INVESTMENTS: Receives EGM Requisition Proposal
--------------------------------------------------------
Firstlink Investments Corporation Limited announced that on
Sept. 30, 2005, the Company received a requisition from Putra
Pacific Holdings Pte Limited and Olivia Then for an
Extraordinary General Meeting.

To view the details of the EGM requisition, go to:

http://bankrupt.com/misc/tcrap_firstlink100505.pdf

CONTACT:

Firstlink Investments Corporation Limited
6 Battery Road
Singapore 049909
Phone: 65 6448 6211
Fax:   65 6445 2506


JIL COMPONENTS: Creditor Seeks Winding Up
-----------------------------------------
Notice is hereby given that Westech Electronics Limited, a
creditor od JIL Components Singapore Pte Limited, presented a
winding up petition against the Company to the Singapore High
Court on Sept. 22, 2005.

The petition is directed to be heard before the Court sitting at
Singapore on Oct. 14, 2005, 10:00 a.m.

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

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

The Petitioner's address is 34 Kaki Bukit Crescent, Kaki Bukit
Techpark 1, Singapore 416263.

The Petitioner's solicitors are Messrs. Ho, Wong & Partners of
46 Tras Street, Singapore 078985.

Dated this 28th day of September 2005

Messrs. Ho, Wong & Partners
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to solicitors Messrs. Ho, Wong &
Partners notice in writing of his intention to do so. The notice
must state the name and address of the person, or, if a firm,
the name and address of the firm, and must be signed by the
person or firm, or his or their solicitor (if any) and must be
served, or, if posted, must be sent by post in sufficient time
to reach the solicitors not later than 12:00 p.m. of Oct. 13,
2005 ( one day before the scheduled hearing date).

CONTACT:

JIL Components Singapore Pte Limited (HQ)
160 Paya Lebar Road
#02-02 Orion Industrial Building, Singapore 409022
Phone: 65 6238 8108
Fax:   65 6238 8109
Email: info@jilcomponents.com
Web site: http://www.jilcomponents.com/


VEGOIL PTE: Receiving Proofs of Debt Until Ocotber 14
-----------------------------------------------------
Vegoil (S) Pte Limited, formerly of 10 Anson Rd, #15-14
International Plaza, Singapore 079903, posted a notice of
intended dividend at the Government Gazette, Electronic Edition
with the following details:

Name of Company: Vegoil (S) Pte Limited
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 73 of 2000
Last day for receiving proofs: Oct. 14, 2005
Name  & address of Liquidators: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: Sept. 30, 2005

Karen Loh
Assistant Official Receiver


WENCON SINGAPORE: Court Orders Winding Up
-----------------------------------------
In the matter of Wencon Singapore Pte Limited, the Singapore
High Court issued a winding up order against the Company on
Sept. 23, 2005 with the following details:

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

Messrs CH PARTNERS
Solicitors for the Petitioner


WIRELESS COMMUNICATIONS: To Hold Final Meeting on Oct. 28
---------------------------------------------------------
Notice is hereby given that a Final Meeting of the Members of
Wireless Communications International Pte Limited will be
held on Oct. 28, 2005, 10:00 a.m. at 138 Cecil Street, #15-00
Cecil Court, Singapore 069538, for the purpose of laying before
the Meeting an account showing how the winding up was conducted
and the property of the Company disposed of, and to hear any
explanation that may be given by the Liquidator; and also of
determining by resolution the manner in which the books,
accounts and documents of the Company and of the Liquidator
shall be disposed of.

Dated this 26th day of September 2005.

Steven Tan Chee Chuan
Douglas Tan Kay Yeow
Joint Liquidators
138 Cecil Street
#15-00 Cecil Court
Singapore 069538

Note:

Pursuant to section 181 of the Companies Act, Cap. 50, a member
entitled to attend and vote at this Meeting is entitled to
appoint another person or persons (whether a member or not) as
his proxy to attend and vote in his stead.


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

PICNIC CORPORATION: Unveils Warrant Exercise Results
----------------------------------------------------
Picnic Corp. Public Co. Ltd. notified the Stock Exchange of
Thailand (SET) on the 7th period to exercise warrants on
September 23, 26 and 29, 2005.

The company informed the SET that there is no warrant exercised
in September 2005. The 149,999,080 units of PICNI-W1 were
initially issued and now 6,812,237 units remain.

Please be informed accordingly.

Yours sincerely
Mr. Nirun Fukanjananon
Assistant Managing Director

CONTACT:

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


PICNIC CORPORATION: Audit Committee Chair Quits
-----------------------------------------------
Picnic Corp. Public Co. Ltd. advised the Stock Exchange of
Thailand (SET) that Sompoch Intranukun resigned from being an
Independent Director and Chairman of Audit Committee of the
company.

The resignation will be effective on November 3, 2005.

Please be informed accordingly

Yours faithfully
Mr. Nattachai Aramrasmewanich
Managing Director


WYNCOAST INDUSTRIAL: Undertakes 29th Warrant Exercise
-----------------------------------------------------
As Wyncoast Industrial Park Public Company Limited, issued
63,220,000 units of Warrants and these warrants were at 29th
exercise date on September 30, 2005.

The Company, herewith, reports the exercise of the warrants
for the 29th exercise date as per following details:

- Exercise ratio: 1 warrant has a right to subscribe 1.074
ordinary shares.

- Exercise price: THB1 per share.

- Ordinary shares reserved to support the exercise: 67,898,280
shares.

- No. of warrant holders exercise: none.

- No. of warrant being exercised: none.

- Ordinary shares resulted from the exercise: none.

- Amount of money received from the share sale: none.

- Total remaining warrants listed in the Stock Exchange of
Thailand: 63,220,000 units.

Please be informed accordingly,

Yours sincerely,
Mr. Pathrlap Davivongsa
Chief Executive Officer

CONTACT:

Wyncoast Industrial Park Public Company Limited   
105 Moo 3,Bangna-Trat Road,
Thakham, Bang Pakong Chacherngsao    
Telephone: 0-3857-3161-72   
Fax: 0-3857-3173-4

       




                          *********


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

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

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

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

The TCR -- Asia Pacific subscription rate is $575 for 6 months
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***