TCRAP_Public/051010.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, October 10, 2005, Vol. 8, No. 200

                            Headlines

A U S T R A L I A

A.C.N. 080 001 770: Appoints Official Liquidators
A.C.N. 096 616 330: Members Opt for Voluntary Liquidation
BIG PUNTER: Decides to Halt Operations
BMY HOMES: Set to Declare First, Final Dividend
BRISBANE AGENCY: Creditors Suffer Another Blow

CASTERTON PROPRIETARY: Winds Up Business
CENEROAM PTY: Liquidator to Explain Wind Up to Members
CRESCENT FARM: Members Pass Winding Up Resolution
DILMUN NAVIGATION: Liquidation Process Initiated
EMPEROR MINES: Unveils Changes to Board of Directors

FORTESCUE METALS: Boosts Iron Ore Resources
GALDOR PTY: Members, Creditors to Receive Wind Up Report
GIPPSLAND PARTY: Intends to Pay Dividend to Creditors
HUNTER VALLEY: Court Issues Winding Up Order
ION LIMITED: To Lay Off 200 Workers

MAHMAH PTY: Inability to Pay Debts Prompts Wind Up
MAYNE GROUP: Boss Walking Out the Door with AU$4.2 Mln
MOTOR TRADERS: Liquidator to Detail Wind Up Manner
MYER LIMITED: Parent Mulls Cost Cuts
OPALINE PTY: Gideon Rathner Named Liquidator

PLACER DOME: Speaks to Philippine Lawsuit
PURWOOD PTY: Closes Firm Due to Default
ROTARY METAL: Placed Under Voluntary Liquidation
SANTOS LIMITED: FUELS Dividend Rate Hits 5.0738%
SILVER SWAN: To Declare First, Final Dividend

TELSTRA CORPORATION: Needs to Axe 9000 Jobs, Says Citigroup
TELSTRA CORPORATION: Passes Some Tests, Fails Others
THAT'S TOPS: Creditors OK Liquidator's Appointment
VIVE LA VIE: Schedules Final Meeting October 14
WARNBUNGA PTY: Members Agree to Wind Up Firm

* IMF Warns Shareholders of Punter


C H I N A  &  H O N G  K O N G

AIR CHINA: Morgan Stanley Cuts Rating to Underweight
CHINA CONSTRUCTION: Fixes IPO Price at $2.1/Share
CHINA SOUTHERN: Rating Downgraded to Underweight
CHINA SOUTHERN: Introduces New Australia-Europe Fares
GLORY FUTURE: Proposes Capital Revamp

GOLD-FACE FINANCE: Creditors to Prove Claims Until November 8
HOP HING: Notes Unusual Price, Volume Movements
MOULIN GLOBAL: Clarifies Reports on ECCA Investment
NEW WORLD: FY/2005 Net Loss Narrows to HK$866 Mln
RBG GLOBAL: To Appoint Liquidators

SHENZHEN CHINA: Notes Unusual Price Fluctuation
SPENDERS IMAGE: Winding Up Hearing Set November 23
DALIAN CHANGXING: Shenzhen Stock Exchange Delists Securities
TISCO SECURITIES: SFC Reprimands Firm
TREASURE PROPERTIES: Releases Debt Claim Notice

WELLAGE LIMITED: Winding Up Hearing Fixed November 16
YUNHAN INVESTMENTS: Court to Hear Winding Up Petition November 9


I N D I A

DIGITAL STOCKS: Found Defrauding Small Investors
ELTROL LTD.: SEBI Bars Firm, Directors
SANYO-BPL: Outlines New Strategies


I N D O N E S I A

BANK MANDIRI: Fitch Ratings Service Downgrades Rating to `D'
KIANI KERTAS: Deutsche Bank Interested in Acquiring Firm
PERTAMINA: LPG Production Output Drops by 20%


J A P A N

HITACHI LIMITED: Sees 54% Rise in Power Unit Sales by 2016
HITACHI LIMITED: Enters JV Deal with Takeda Pharmaceutical
JAPAN AIRLINES: To Enter Innovative Maintenance Deal With Boeing
KANEBO LIMITED: IRCJ Picks 4 Groups in Second Tender
SANYO ELECTRIC: Mulls Tie-up With Mitsui & Co.


K O R E A

ASIANA AIRLINES: Introduces New Flights to the Philippines
DAEWOO MOTOR: Uzbekistan Fully Pays 50% Stake
SAMSUNG MOTOR: Creditors Lose Patience on Delayed Listing


M A L A Y S I A

ANCOM BERHAD: Buys Back 38,500 Shares
BUKIT KATIL: Wind-Up Order Granted Stay Until August 2006
DATUK KERAMAT: Appeals to High Court Decision
FABER GROUP: Issues New Shares for Listing, Quotation
FOUNTAIN VIEW: New Shares up for Listing, Quotation

HABIB CORPORATION: Bourse to List, Quote New Shares
KILANG PAPAN: Bourse Extends Time to Comply with Requirements
LIEN HOE: Issues New Shares for Listing, Quotation
MBF HOLDINGS: Unit's Summary Judgment for Mention Next Month  
MECHMAR CORPORATION: No Changes to Repayment Agreement

PANTAI HOLDINGS: Bourse to List, Quote New Shares
QUALITY CONCRETE: Unveils Disposal, Acquisition of Securities
TAP RESOURCES: AGM Slated for October 28
TENAGA NASIONAL: Agreement Cut-Off Date Extended


P H I L I P P I N E S

EVER GOTESCO: Owner Faces Tax Evasion Raps
NATIONAL POWER: Saves Php8-Bln from IPPs
NICPHIL INSURANCE: Former Boss Questions Conservator's Pay
PICOP RESOURCES: Director Quits Due to Conflict of Interest
REYNOLDS PHILIPPINES: Banks Sell Assets for Php365 Mln


S I N G A P O R E

CITIRAYA INDUSTRIES: CEO Says Firm is Worth Saving
COMET TRADING: Liquidator Sets Deadline for Claims Submission
FIRSTLINK INVESTMENTS: To Hold EGM on October 22
GOLDVEIN MANAGEMENT: Creditors Asked to Submit Debt Claims
NEOCORP INTERNATIONAL: Seeks Judicial Management

PRIMA NOODLE: Members Convene to Discuss Wind Up
SNP CORPORATION: Sells Property to Reduce Debt, Increase Capital


T H A I L A N D

DAIDOMON GROUP: Defends SEC Allegations
THAI AIRWAYS: Three Moscow Flights a Week Begin in November
TPI POLENE: Firm Says SEC Report Misleads Investors

      -  -  -  -  -  -  -  -   

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

A.C.N. 080 001 770: Appoints Official Liquidators
-------------------------------------------------
At an extraordinary General Meeting of A.C.N. 080
001 770 Pty Limited convened and held on Sept. 9, 2005, Riad
tayeh and Antony de Vries were appointed Joint and Several
Liquidators in the winding up of the Company.

Dated this 9th day of September 2005

Riad Tayeh
Antony de Vries
Joint Liquidators
de Vries Tayeh
c/o Level 3, 95 Macquarie Street
Parramatta NSW 2150


A.C.N. 096 616 330: Members Opt for Voluntary Liquidation
---------------------------------------------------------
Notice is hereby given that at a meeting of creditors held
On Sept. 1, 2005 it was resolved that A.C.N. 096 616 330 Pty
Limited be wound up voluntarily, and that Glenn Anthony Crisp,
Chartered Accountant of RSM Bird Cameron Partners, Level 8, 525
Collins Street, Melbourne, be appointed Liquidator for such
purpose.

Dated this 5th day of September 2005

Glenn Anthony Crisp
Liquidator
RSM Bird Cameron Partners
Level 8, 525 Collins Street
Melbourne Vic 3000


BIG PUNTER: Decides to Halt Operations
--------------------------------------
Notice is hereby given that at a general meeting of members of
held on Sept. 5, 2005, it was resolved that Big Punter Pty Ltd
be wound up voluntarily, and Sule Arnautovic was appointed
Liquidator for the winding up.

Dated this 20th day of September 2005

Sule Arnautovic
Liquidator
Jirsch Sutherland
Chartered Accountants
Level 2, 84 Pitt Street
Sydney NSW 2000
Phone: 02 9233 2111
Fax:   02 9233 2144


BMY HOMES: Set to Declare First, Final Dividend
-----------------------------------------------
BMY Homes Pty Limited will declare a first and final dividend on
Oct. 10, 2005.

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

A first and final dividend is to be declared on 10
October 2005 for the company.

Dated this 23rd day of August 2005

John Park
Liquidator
KordaMentha (Qld)
Level 2, Corporate Centre One
2 Corporate Court, Bundall Qld 4217
Phone: 07 5574 1322
Fax:   07 5574 1433


BRISBANE AGENCY: Creditors Suffer Another Blow
----------------------------------------------
The latest development in the administration of Brisbane Agency
and Administration Services Pty Ltd. (BAAS) will not make
creditors happy, according to Townsville Bulletin.

Creditor Boral Formwork and Scaffolding has made good on its
threat to explore legal avenues by challenging a Deed of Company
Arrangement (DOCA) accepted by a majority of creditors at a
meeting on September 13. A hearing on Boral's application was
fixed for hearing October 6 in Brisbane.

Deed administrator Gerald Collins has told creditors he did not
intend to declare a dividend until the application by Boral is
heard.

Brisbane Agency and Administration, the former construction
company of the Honeycombes Property Group, fell into voluntary
administration on August 8.

Claims of debts totaled about AU$1.3 million, while creditors
were offered about AU$600,000 in the DOCA.

CONTACT:

Honeycombes Property Group

Townsville Office
131 Denham Street
TOWNVSVILLE QLD 4810
PO Box 342 Castletown
HYDE PARK QLD 4812
Phone: (07) 4779 9199
Fax: (07) 4760 2999
E-mail: office@honeycombes.com

Brisbane Office
56 Little Edward Street
SPRING HILL QLD 4000
PO Box 605
SPRING HILL QLD 4003
Phone: (07) 3833 0833
Fax; (07) 3832 9700
E-mail: marnis@bris.honeycombes.com

Web site: http://www.honeycombesproperty.com.au/


CASTERTON PROPRIETARY: Winds Up Business
----------------------------------------
Notice is hereby given that at a general meeting of the members
of Casterton Proprietary Limited held on Sept. 1, 2005, it was
resolved that the Company be wound up voluntarily, and that
Richard Herbert Judson of Members Voluntarys Pty Limited be
appointed Liquidator of the Company.

Dated this 7th day of September 2005

Richard Judson
Liquidator
Members Voluntarys Pty Limited
PO Box 819, Moorabbin Vic 3189


CENEROAM PTY: Liquidator to Explain Wind Up to Members
------------------------------------------------------
Notice is hereby given that a General Meeting of the Members of
Ceneroam Pty Limited will be held on Oct. 14, 2005, 11:00 a.m.
at the offices of Worsley Partners, 338 Griffith Road Lavington
New South Wales, to lay before the meeting the Liquidator's
final account and report, and to give any explanation thereof.

Dated this 15th day of August 2005

Ross Stewart Griffin
Liquidator
Worsley Partners
338 Griffith Road, Lavington NSW 2641


CRESCENT FARM: Members Pass Winding Up Resolution
-------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Crescent Farm Pty Limited held on Sept. 1, 2005,
it was resolved that the Company be wound up voluntarily.

At a meeting of creditors held on the same day, it was resolved
that Robert Molesworth Hobill Cole of Cole Downey & Co.
Chartered Accountants, Unit 2, 6 Moorabool Street, Geelong Vic
3220 be appointed Liquidator for such purpose.

Dated this 2nd day of September 2005

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


DILMUN NAVIGATION: Liquidation Process Initiated
------------------------------------------------
At a general meeting of the members of Dilmun Navigation Company
Pty Limited held on Sept. 1, 2005, a special resolution that the
Company be wound up voluntarily was passed.

Stuart Craig
Liquidator
80 Pymble Avenue
Pymble NSW 2073


EMPEROR MINES: Unveils Changes to Board of Directors
----------------------------------------------------
Emperor Mines Limited announced the following changes to its
Board of Directors:

(1) The appointment of Mr. Michael Marriot as a Director; and
(2) The resignation of Mr. Ian Murray as a Director of the
Company.

Mr. Marriott has 31 years experience in the gold mining
industry. He is Divisional Director-South African Operations of
DRDGold Limited and, pursuant to an Operational Support
Agreement between Emperor MInes Limited and DRDGold, he is also
Chief Operating Officer for Emperor Mines Limited. As such, Mr.
Marriott has a significant role in the management of Emperor
Gold Mine at Vatukoula, Fiji.

Mr. Murray joined the Board Emperor as a Non-Executive Director
in January of this year. The Company acknowledges the
contributions of Mr. Murray to the Board and as Chairman of the
Audit Committee during his time as a director of the Company.

CONTACT:

Emperor Mines Limited
Suite 303, Level 3
50 Margaret Street,
Sydney NSW 2000
Australia
Phone: +61 2 9299 7422
Fax: +61 2 9299 7433
E-mail: emperor@emperor.com.au
Web site: http://emperor.com.au


FORTESCUE METALS: Boosts Iron Ore Resources
-------------------------------------------
Fortescue announced a 70% increase in Indicated Resources at
Cloud Break and Christmas Creek to 1.4 Bt. The increase comes
from Fortescue's Cloud Break tenements where 572 Mt is now
estimated as Indicated Resource under JORC Code 2004.

The conversion of 86% of High Grade Inferred Resources from
prior estimates to Indicated Resources in the current estimate,
with an increase in tonnage, is very encouraging and further
confirms Fortescue's proposed mining program of targeting the
High Grade material over the initial years of operation. High
Grade is defined as resources which have an in-ground average
grade exceeding Fortescue's targeted shipping grade of 60% Fe.
This grade is considered by Fortescue's Head of Resource
Strategy, Dr John Clout, as being potentially acceptable to the
market without the need for beneficiation.

Fortescue now has Total Mineral Resources within its targeted
initial mining areas of Cloud Break, Christmas Creek, and Mt
Lewin of 2.4 Bt of which 1.4 Bt are estimated as Indicated
Resources and 1.0 Bt estimated as Inferred Resources in
accordance with the JORC Code (2004). These aggregations include
811 Mt of High Grade material which has an estimated average of
60.4% Fe. Importantly, some 70% of this High Grade material is
classified as Indicated Resources, lending further confirmation
to Fortescue's mining plan to target higher grade material in
the early years.

Of particular note is an increase in both estimated tonnage and
Fe grade at Cloud Break following the analysis of extensive
infill drilling. Specifically, the Indicated Resource estimate
has increased by 75% from the previous public report.
Importantly, this demonstrates that as Fortescue continues to
improve the confidence levels of its resource estimation through
infill drilling, both the tonnage and grade for Total and
Indicated Resource categories has increased.

Full details of this most recent Cloud Break resource estimate
are provided as an attachment to this release. The report has
been completed in conjunction with the specialist independent
advisor Snowden Mining Industry Consultants ("Snowden"). The
statement supercedes the last Cloud Break resource estimate
which was lodged with the ASX on 15 July 2005. This current
statement is based on geological and mineralisation
interpretations completed up to 23 September 2005.

Fortescue is continuing extensive infill drilling programs at
both Cloud Break and Christmas Creek and is generating more data
for interpretation by Snowden, which will be reported at a later
date.

The objective of the infill program to enhance the confidence
level of JORC reporting is proving highly valuable to the
Company as it is clearly demonstrating an ability to move
tonnages up to Indicated status which is the JORC level that
enables this material to be considered for reserve
classification under the mining Definitive Feasibility Study.
Fortescue anticipates making further announcements relating to
reserve tonnages progressively through the current quarter.

Attachment:
http://bankrupt.com/misc/tcrap_fortescuemetals100705.pdf

CONTACT:

Fortescue Metals Group Limited
Fortescue House
50 Kings Park Road
WEST PERTH
WESTERN AUSTRALIA WA 6005
Phone: +61 8 9266 0111
Fax: +61 8 9266 0188
E-mail: fmgl@fmgl.com.au
Web site: http://www.fmgl.com.au/


GALDOR PTY: Members, Creditors to Receive Wind Up Report
--------------------------------------------------------
Notice is given a joint meeting of the members and creditors of
Galdor Pty Limited will be held on Oct. 14, 2005, 10:00 a.m. at
the offices of Lawler Partners, 763 Hunter Street, Newcastle
West NSW 2302, to present the Liquidator's account showing the
manner of the winding up and the disposal of the property of the
Company, and to hear any explanations that may be given by the
Liquidator.

Dated this 30th day of August 2005

S. W. Free
Liquidator
Lawler Partners
Chartered Accountants
763 Hunter Street, Newcastle West NSW 2302


GIPPSLAND PARTY: Intends to Pay Dividend to Creditors
-----------------------------------------------------
Gippsland Party Hire & Wholesalers Pty Limited will declare a
first and final dividend on Oct. 11, 2005.

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

Dated this 12th day of August 2005

Ken Sellers
Liquidator
SimsPartners
GPO Box 2217, Melbourne Vic 3001
Phone: 03 9600 2100
Fax:   03 9600 2400


HUNTER VALLEY: Court Issues Winding Up Order
--------------------------------------------
On Sept. 8, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of Hunter Valley Suspended
Ceilings & Partitioning Pty Limited, and appointed Steve Nicols
to be Liquidator of the Company.

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


ION LIMITED: To Lay Off 200 Workers
-----------------------------------
Ailing car parts maker Ion Limited is expected to shed another
200 jobs at its Albury plant, trimming its workforce to 540, The
Age reports.

Ion blamed the job cuts on its failure to seal a Ford contract
and skyrocketing petrol prices.

The latest redundancies follow an earlier 200 jobs being slashed
at the company's foundry at Plumpton, Adelaide, and a further
400 at the company's Wingfield manufacturing facility.

Administrator Colin Nicol is looking to finalize the Albury job
losses within the next two weeks and was hopeful most workers
would take voluntary redundancy packages.

The administrator was also planning to sell the Albury Ion
operations and a research and development facility at Clayton,
Victoria.

Negotiations were expected to be finalized next week and the new
owner would take over on November 1.

Meanwhile, the sale of Ion's Plympton operations will proceed
this month. The sale of the facility has been postponed earlier
so environmental issues could be addressed.

CONTACT:

McGrathNicol and Partners
Level 9, 10 Shelley Street,
Sydney NSW 2000
Australia
Phone: +61 2 9338 2600
Fax: +61 2 9338 2699
E-mail: cnicol@mcnp.com.au
Web site: http://www.mcgrathnicol.com.au


MAHMAH PTY: Inability to Pay Debts Prompts Wind Up
--------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Mahmah Pty Limited held on Sept. 6, 2005, the following
Special Resolution was duly passed:

That as it may not be able to pay its debts within 12 months (in
the opinion of its directors), the Company be wound up by a
Creditors' Voluntary Wind Up.

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 8th day of September 2005

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


MAYNE GROUP: Boss Walking Out the Door with AU$4.2 Mln
------------------------------------------------------
The outgoing chief executive of Mayne Group Limited will exit
the company with AU$4.2 million in his pocket, Sydney Morning
Herald reports.

Chief Executive Stuart James will leave Mayne, as the healthcare
company prepares to create two listed entities.

Mr. James remuneration, which compared to the previous year's
AU$4.06 million, includes a AU$1.75 million salary, a AU$1.93
million incentive and a further AU$286,000 in share acquisition
rights.

Earlier, Mayne announced it will split the company into a global
firm called Mayne Pharma and another aimed at market positions
in pathology, diagnostic imaging, pharmacy and health-related
consumer products.

Mayne chairman Peter Wilcox said in the company's annual report
that the domestic business, with a history of healthy cashflows,
will have a policy of paying a higher proportion of dividend
than Mayne Pharma.

He said Mayne Pharma is likely to invest most of its profits
back into the business to continue its growth trajectory and is
therefore expected to have a lower dividend payout over the long
term.

tFormer Aventis Pharma vice-president Thierry Soursac has been
appointed chief executive for Mayne Pharma, while Robert Cooke,
the former head of Mayne's sold-off hospitals operations will
head the domestic healthcare operations.

CONTACT:

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


MOTOR TRADERS: Liquidator to Detail Wind Up Manner
--------------------------------------------------
Notice is given that a Final Meeting of the Members and
Creditors of Motor Traders Australia (MTA) Pty Limited will be
held on Oct. 14, 2005, 11:45 a.m. at Parker Advisory, Level 5,
49 Market Street, Sydney NSW 2000 for the following purposes:

AGENDA

(1) To receive the Liquidator's account showing how the winding
up was conducted, the property of the Company disposed of and to
receive any explanation required thereof.

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

Dated this 29th day of August 2005

G. J. Parker
Liquidator
C/o parker Adsvisory
Level 5, 49 Market Street
Sydney NSW 2000


MYER LIMITED: Parent Mulls Cost Cuts
------------------------------------
Coles Myer is reportedly stepping up efforts to make Myer
Limited attractive to buyers, including cost cuts that would
help justify its AU$700-million price, The Advertiser reports.

Coles Myer has reportedly told potential buyers for Myer's
department stores that there will be "an assessment of why
significant cost cuts are available".

The company, a source said, had indicated a double layer of
costs - Myer's standalone business costs and an extra layer for
its contribution to head-office expenses.

Myer boss Dawn Robertson has signaled a new focus on short and
long-term cost reduction after improving on merchandise offers
and store upgrades.

But Coles continue to reject suggestions of deep cuts, keeping
in mind the need to keep staff and suppliers on side during a
prolonged sale process.

Ms. Robertson also denied reports of an internal razor gang
looking at an AU$45 million cost-reduction program.

A spokesman said it would be "wrong to conclude the issue of
cost in Myer is related to the sale process".

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


OPALINE PTY: Gideon Rathner Named Liquidator
--------------------------------------------
Notice is hereby given that at a meeting of creditors of Opaline
Pty Limited held on Sept. 1, 2005, it was resolved that the
Company be wound up, and Gideon Rathner of Lowe Lippmann,
Chartered Accountants, 5 St Kilda Road, St Kilda, Victoria, 3182
was appointed Liquidator for the winding up.

Dated this 7th day of September 2005

Gideon Rathner
Liquidator
Lowe Lippmann
Chartered Accountants
5 St. Kilda Road, St. Kilda Vic 3182


PLACER DOME: Speaks to Philippine Lawsuit
-----------------------------------------
Placer Dome Inc. (NYSE: TSX, ASX: PDG) has been named the sole
defendant in a Complaint filed on October 4, 2005, by the
Provincial Government of the Island of Marinduque, Philippines
(Province), with the District Court in Clark County, Nevada.

Although Placer Dome has not been served with the Complaint to
date, Placer Dome has obtained a copy of the Complaint and is
reviewing it with legal advisers. The Complaint asserts that
Placer Dome is responsible for alleged environmental degradation
with consequent economic damages and impacts to the health of
people living in the vicinity of the Marcopper mine that was
owned and operated by Marcopper Mining Corporation. Placer Dome
indirectly owned a minority shareholding of 39.9% in Marcopper
Mining Corporation until the divestiture of its shareholding in
1997.

According to the Complaint, the Province seeks an unspecified
amount of damages (including exemplary damages, interest and
attorneys' fees) and orders from the District Court requiring
Placer Dome to complete an environmental clean-up of the
impacted lands and water systems (including the reintroduction
of harmed species into the restored environment), repair the
deteriorating Marcopper mine structures and create and fund
environmental and medical monitoring funds.

If and when service of the Complaint is effected on Placer Dome,
the Company will challenge the Complaint on various grounds and
otherwise vigorously defend the litigation.

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 Australia stock exchanges and
Euromext-Paris under the symbol PDG>

CONTACT:

Placer Dome Limited
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


PURWOOD PTY: Closes Firm Due to Default
---------------------------------------
At a General Meeting of Members of Purwood Pty Limited duly
convened and held on Sept. 6, 2005, the following special
resolution was passed:

(1) That it has been proved to the satisfaction of this meeting
that the Company (by reason of its liabilities) cannot continue
its business, and that the Company be wound up voluntarily.

And the following ordinary resolution was duly passed:

(2) That Ian Charles Francis, Chartered Accountants and
Registered Company Liquidator be appointed Liquidator for the
winding up.

Dated this 7th day of September 2005

I. C. Francis
Liquidator
c/o Taylor Woodings
Chartered Accountants
Level 6, 30 The Esplanade
Perth WA 6000


ROTARY METAL: Placed Under Voluntary Liquidation
------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of the Members of Rotary Metal Finishing Company Proprietary
Limited held on Sept. 1, 2005, it was resolved that the Company
be wound up voluntarily, and that Susan Joy Prestney of Level
10, 600 St Kilda Road, Melbourne, be appointed Liquidators.

Dated this 1st day of September 2005

S. J. Prestney
Liquidator
Level 10, 600 St. Kilda Road
Melbourne Vic 3004
Phone: 9521 3000
Fax:   9521 3242


SANTOS LIMITED: FUELS Dividend Rate Hits 5.0738%
------------------------------------------------
Santos Limited on Thursday announced that the dividend rate for
its Franked Unsecured Equity Listed Securities (FUELS) will be
5.0738% per annum for the dividend period from and including 30
September 2005 to 30 March 2006.  (The next dividend period will
be from 31 March 2006 to 29 September 2006 inclusive).

After incorporating the value of expected franking credits, the
grossed-up dividend rate equates to 7.2483% per annum for the
dividend period.

In accordance with the FUELS terms of issue, the non-cumulative
floating rate dividend on the FUELS, incorporating, on a
grossed-up basis, the value of franking credits, has been set at
a 1.55% gross margin above the 180 day bank bill swap rate for
the applicable dividend period.

This bank bill swap rate on the first day of the dividend period
(30 September 2005) was 5.6983%.

CONTACT:

Santos Limited
Ground Floor, Santos
House, 91 King William Street,
Adelaide, S.A. 5000
Web site: http://www.santos.com.au/

Kathryn Mitchell                                     
Phone: (08) 8218 5260 / 0407 979 982               

Dean Bowman
Phone: (08) 8218 5150 / 0409 969 289


SILVER SWAN: To Declare First, Final Dividend
---------------------------------------------
Silver Swan Jewellery (Aust/NZ) Pty Limited will declare its
first and final dividend on Oct. 11, 2005.

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

Dated this 23rd day of August 2005

C. M. Williamson
Liquidator
SimsPartners
Chartered Accountants and Business Advisors
Level 12, 40 St. George's Terrace
Perth WA 6000


TELSTRA CORPORATION: Needs to Axe 9000 Jobs, Says Citigroup
-----------------------------------------------------------
Rumors of widespread job cuts at Telstra Corporation re-emerged
following Citigroup's report that said 9000 jobs could go as the
telecom streamlines its operations, according to the Sydney
Morning Herald.

The latest report supported findings by Credit Suisse First
Boston earlier this week, which upgraded Telstra to a Buy and
forecast 8000 jobs would go if the telecom followed the lead of
its peers and invested in a next generation (IP) network.

But Citigroup analyst Tim Smeallie was more cautious about
Telstra's outlook, warning that implementing the changes would
be tough and predicted short-term turbulence.

Citigroup said 16,000 employees would need to be retrenched to
offset the margin declines from Telstra's fixed-line business
over the next five years, but it said 9000 was a more likely
figure

Telstra played down the CSFB report, stating that it expected
speculation like this to build ahead of a strategy announcement
by the telco's Chief Executive Sol Trujillo next month.

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: Passes Some Tests, Fails Others
----------------------------------------------------
Telstra Corporation has failed five of 15 tests conducted by the
Australian Competition and Consumers Commission (ACCC) that
measure key performance indicators.

The ACCC found the embattled telco was discriminating between
its own retail operations and those of rivals with access to its
network.

The ACCC conducted the tests on both residential and business
customer groups.

The Commission said Telstra passed 10 of the tests including
domestic and international long-distance calls, fixed-to-mobile
calls and the bundling of fixed-line voice telephony services,
for residential and business customers. It also passed the test
for the bundling of Asymmetric Digital Subscriber Line and
fixed-line voice telephony services for business customers.

However, the telco failed in the imputation test for local call
services for both local and business customers. It also failed
tests for stand-alone ADSL and the residential ADSL and voice
bundle.

"It appears that the cost of transforming the Unconditioned
Local Loop Service (ULLS) core service into ADSL, and not the
access price for the ULLS, is the main reason for the fail
results," the report said.

The ULLS allows a rival to lease Telstra's line to supply any
combination of access, voice, ADSL or other data services.

Telstra said yesterday it had a number of issues with the ULLS
test. "There are problems with the test and we are working with
the ACCC to try and fix those problems," a spokesman said.

The ACCC compiles the report to ensure Telstra does not
discriminate between its own operations and access seekers using
its network.


THAT'S TOPS: Creditors OK Liquidator's Appointment
--------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
That's Tops Roofing Pty Limited held on Sept. 8, 2005, members
passed a Special Resolution to voluntarily wind up the Company,
and M. F. Cooper was appointed as the Company's liquidator.
Creditors confirmed the Liquidator's appointment at a creditors'
meeting held that same day.

Dated this 12th day of September 2005

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


VIVE LA VIE: Schedules Final Meeting October 14
-----------------------------------------------
Notice is hereby given that the final meeting of members and
creditors of Vive La Vie Productions will be held on Oct. 14,
2005, 10:30 a.m.  at the offices of RSM Bird Cameron Partners,
Level 1, 103-105 Northbourne Avenue, Turner ACT 2612, to lay
before the meetings the Liquidator's final accounts and reports,
and give an explanation thereof.

Dated this 5th day of September 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue
Turner ACT 2612


WARNBUNGA PTY: Members Agree to Wind Up Firm
--------------------------------------------
Notice is hereby given that at a general meeting of the members
of Warnbunga Pty Limited held on Sept. 7, 2005, 2005, it was
resolved that the Company be wound up voluntarily, and that
Austin Robert Meerten Taylor of Meertens, Chartered
Accountants, Level 10, 68 Grenfell Street, Adelaide, South
Australia, be appointed liquidator of the Company.

Dated this 12th day of September 2005

A. R. M. Taylor
Liquidator
Meertens
Chartered Accountants
Level 10, 68 Grenfell Street
Adelaide SA 5000
Phone 08 8418 8900
Fax:  08 8232 5077


* IMF Warns Shareholders of Punter
----------------------------------
Shareholder Advocacy has asked Australian investors in failed
companies to register with administrators as unsecured
creditors, The Age relates.

The Melbourne-based firm has contacted shareholders suggesting
they have been misled by the companies and notes it is lodging
proofs of claims documents on behalf of shareholders.

The Company would make more than AU$20 million if each of the
47,000 shareholders of ION, Sons of Gwalia and Henry Walker
Eltin paid the AU$440 Shareholder Advocacy has requested to
register them as unsecured creditors.

IMF Senior Executive Clive Bowman, noted there is no guarantee
that liquidators would accept Shareholder Advocacy's claims and
treat the shareholders the same as unsecured creditors.

Mr. Bowman also warned that the letters sent to shareholders by
Shareholder Advocacy could be illegal.


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

AIR CHINA: Morgan Stanley Cuts Rating to Underweight
----------------------------------------------------
Morgan Stanley downgraded Air China Limited to underweight
Thursday from equalweight, Dow Jones reports.

"High fuel surcharge rates will have a negative impact on
passenger and cargo yields" and hedging positions for most
airlines are no longer as effective next year, Morgan Stanley
said.

According to Chong Hing Securities Ltd, Air China has current
assets of HK$15.06 billion in the year ended December 31, 2004,
while current liabilities stood at HK$21.47 billion in the same
period a year earlier.

CONTACT:

Air China Limited
5th Floor, CNAC House 12
Tung Fai Road Hong Kong
International Airport Hong Kong  
Phone: 2861-0288  
Fax: 2865-4570  
Web site: http://www.airchina.com.cn


CHINA CONSTRUCTION: Fixes IPO Price at $2.1/Share
---------------------------------------------------
China Construction Bank's initial public offering will be priced
at US$2.1 per share, and the proceeds will be $55.629 billion,
basing on the $26.49 billion shares initially intended to be
offered, Infocast News reports.

The bank set a price range of between HK$1.80 and HK$2.25.

The lender has increased the number of application forms for
retail subscription from 1.2 million copies to two million
copies to satisfy citizens' subscription demand.

CONTACT:

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


CHINA SOUTHERN: Rating Downgraded to Underweight
------------------------------------------------
Morgan Stanley has recommended that China Southern Airlines
Company Limited (1055) to be downgraded to "Underweight" from
"Equalweight", Dow Jones reports.

The brokerage raised the international jet fuel price
assumptions to US$75 for 2006 and US$65 for 2007 per barrel,
from US$65 and US$55 respectively.

China Southern Airlines posted a net loss of HK$44.88 million in
the year ended December 31, 2004, versus a net loss of HK$334.98
million in the same period a year earlier, according to Chong
Hing Securities.

CONTACT:

China Southern Airlines Company Limited
Unit B1, 9/F, United Ctr
95 Queensway, Hong Kong  
Phone: 28610288  
Web site: http://www.cs-air.com
  

CHINA SOUTHERN: Introduces New Australia-Europe Fares
-----------------------------------------------------
China Southern Airlines (NYSE:ZNH) (HKSE:1055) (SHA:600029) with
the largest and most technically advanced airline fleet in The
People's Republic of China has announced a package of special
air fares from Sydney and Melbourne to the European cities of
Amsterdam and Paris, flying via China with Economy Class fare
levels start at just AUD $1,299 per person, plus tax of
approximately AUD $282, for travel in the low season.

For shoulder season, the Economy Class fares are from AUD $1499
per person, plus tax, and for high season, prices are from AUD
$1,799 per person, plus tax.

China Southern is also offering a Business Class fare of just
AUD $3,799, plus tax, and a Premium Business Class fare of AUD
$4,099 plus tax for the duration of this offer, which expires on
March 31, 2006.

Taxes can change without notice. Currently, the level applicable
for a return fare to Paris or Amsterdam is approximately AUD
$282. All flights from Australia operate via China Southern's
home base of Guangzhou, formerly known as Canton, where
stopovers are permitted.

"Our special fares offer travelers from Australia an exciting
new way to fly to Europe, with a choice of two central
locations," said Mr. James Liu, Regional Manager Australia for
China Southern Airlines. He added that, "Passengers can arrive
in and depart from the same European city, or can arrive in one
and depart from the other.

"Using these new fares, passengers can also incorporate a visit
to Guangzhou, one of the world's fastest-growing and most
exciting tourist destinations, and one of the largest cities in
China."

China Southern operates Boeing 777-200 (IGW) aircraft nonstop
from Sydney to Guangzhou and from Melbourne to Guangzhou, via
Sydney.

The aircraft are configured to seat 292 passengers -- 18 in
Premium Business Class, 65 in Business Class and 209 in Economy
Class, with personal video screens for all passengers.

Flight CZ 322 departs Sydney at 0950 hrs (local time) arriving
at Guangzhou's new Baiyun International Airport nine hours later
at 1700 hrs (local time).

Flight CZ 322 originates in Melbourne, departing at 0720 hrs
(local time) for Guangzhou via Sydney.

China Southern's Paris flights operate nonstop from Guangzhou
while services to Amsterdam via Guangzhou and Beijing.

Seats are limited at these prices and some conditions apply.
Taxes are subject to change without notice. For more information
or to make a booking, contact AFTA or licensed travel agents, or
call China Southern Airlines reservations on 02 9233 9788 in
Sydney or 03 8676 0088 in Melbourne.

The largest airline in The People's Republic of China for the
past 26 years, China Southern Airlines -- www.cs-air.com/en --
connects more than 80 cities around the globe. Major business
and vacation destinations served in China include: Beijing,
Chengdu, Guangzhou, Guilin, Hong Kong, Kunming, Shanghai,
Shenzhen and Wuhan and as well as international service,
including: Amsterdam, Bangkok, Fukuoka, Hanoi, Ho Chi Minh City,
Islamabad, Kuala Lumpur, Jakarta, Los Angeles, Manila,
Melbourne, Moscow, Osaka, Paris, Penang, Phnom Penh, Seoul,
Singapore, Sydney and Tokyo.

For China Southern Airlines reservations and information, please
contact your local travel agent.
  
Contacts:

China Southern Airlines
Jeff Ruffolo
Phone: 714-532-2054
E-mail: RuffoloPR@aol.com
  
   
GLORY FUTURE: Proposes Capital Revamp
-------------------------------------
The Directors of Glory Future Group Limited announced that they
intend to put forward a proposal to effect the Capital
Reorganization involving:

(1) The Share Consolidation on the basis of every 10 issued and
unissued shares of HK$0.05 each in the capital of the Company
consolidating into one Consolidated Share of HK$0.50 and the
total number of issued shares will be reduced from 753,720,000
to 75,372,000;

(2) The Share Premium Cancellation;

(3) The nominal value of each of the 75,372,000 issued
Consolidated Shares will be reduced from HK$0.50 to HK$0.01 by
canceling the paid-up capital to the extent of HK$0.49 on each
issued Consolidated Share, such that the Company's existing
issued share capital of HK$37,686,000 will be reduced by
HK$36,932,280 to HK$753,720;

(4) The credit arising from the Share Premium Cancellation and
the credit in the sum of HK$36,932,280 arising from the Par
Value Reduction will be directly applied towards the elimination
of part of the accumulated loss of the Company. The accumulated
loss of the Company as at 30 June 2005 as shown in the unaudited
financial statement of the Company for the six months ended June
30, 2005 amounted to HK$71,645,000; and

(5) Upon the Par Value Reduction becoming effective, all the
authorized but unissued share capital of the Company (including
the authorized but unissued share capital arising from the Par
Value Reduction) will be cancelled and forthwith upon such
cancellation, the authorized share capital of the Company will
be immediately restored to the original amount of HK$100,000,000
by the creation of the requisite number of new shares of HK$0.01
each.

On the basis of 753,720,000 Existing Shares in issue as at the
date of this announcement (which will become 75,372,000
Consolidated Shares upon the Share Consolidation becoming
effective), the authorized share capital of the Company will
then be HK$100,000,000 divided into 10,000,000,000 shares of
HK$0.01 each, of which 75,372,000 shares of HK$0.01 each will be
in issue and 9,924,628,000 shares of HK$0.01 each will be
unissued.

For more information, go to

By Order of the Board
Glory Future Group Limited
Choi Koon Ming
Chairman
Hong Kong, 6 October 2005

CONTACT:

Glory Future Group Limited
7/F, San Kei Tower
56-58 Yee Wo Street
Causeway Bay, Hong Kong  
Phone: 22501888  
Fax: 22501833  
Web site: www.glory-future.com
  

GOLD-FACE FINANCE: Creditors to Prove Claims Until November 8
-------------------------------------------------------------
Notice is hereby given that the Scheme of Arrangement dated
March 18, 2005 relating to Gold-Face Finance Limited and Scheme
Creditors became effective on September 29, 2005 upon delivery
to the Companies Registry of a sealed copy of the Order dated
August 30, 2005 sanctioning the Scheme.

Creditors of the company, if they have not already done so, are
each required on or before 12 noon on November 8, 2005 to send
in a "Notice of Claim" (a specimen of which was set out in the
Scheme Document dated 18 March 2005) showing their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors, if any, to the Joint and
Several Scheme Administrators of Gold-Face Finance Limited at
26/F., Wing On Centre, 111 Connaught Road Central, Hong Kong.

If so required by notice in writing from the said Scheme
Administrators, either by themselves or by their solicitors are
to come in and to prove their said debts or claims at such time
and place as shall be specified in such notice.

Dated this 6th day of October, 2005

DARACH E. HAUGHEY
LAI KAR YAN DEREK
Joint and Several Scheme Administrators


HOP HING: Notes Unusual Price, Volume Movements
-----------------------------------------------
The Stock Exchange of Hong Kong has received a message from Hop
Hing Holdings 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 and
increases in trading volume of the shares of the Company and
wish to state that we are not aware of any reasons for such
decreases in the price and increases in the trading volume.

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

Hop Hing Holdings Limited posted a net loss of HK$2.92 million
in the year ended December 31, 2004, versus a net loss of
HK$6.76 million in the same period a year earlier, Chong Hing
Securities Ltd. reports.

CONTACT:

Hop Hing Holdings Limited
Units E-F 2/F Hop Hing Bldg
9 Ping Tong Street East
Tong Yan San Tsuen
Yuen Long, Hong Kong
Phone: 27852681
Fax: 27854237


MOULIN GLOBAL: Clarifies Reports on ECCA Investment
---------------------------------------------------
The provisional liquidators of Moulin Global Eyecare Holdings
Limited clarified recent press reports concerning the Group's
investment in Eye Care Centres of America Inc. (ECCA).

The Provisional Liquidators are currently considering all
options available to them in relation to the Groups remaining
assets, including the Group's investment in Eye Care Centres of
America Inc. (EECA). The Provisional Liquidators have been
appointed to the board of directors of ECCA and its immediate
holding company, ECCA Holdings Corporation.

The Provisional Liquidators have been in discussions with Golden
Gate Capital Inc., the Group's joint venture partner with
respect to the ECCA investment, and a number of third parties
interested in the ECCA asset. The Provisional Liquidators are
currently considering a range of options including a near term
sale of the Group's equity interest or holding in the investment
on longer term basis pending a possible initial public offering
of ECCA in the USA, one of the exit strategies contemplated by
the joint venture documents.

If a disposal of this investment is in the best interests of all
relevant stakeholders, the Provisional Liquidators are of the
view that a sale can be structure in such a way so as to avoid
placing strain on ECCA's own financing arrangements.

As noted in recent press reports, as at July 2, 2005, ECCA had
cash balances of US$21.4 million and available facilities of
approximately US$25 million. The Provisional Liquidators note
that a large contributing factor in ECCA's net loss of US$2
million for the first half of July 2, 2005 (as disclosed in
recent press reports) was significant transaction costs
(approximately US$15 million) incurred by ECCA as part of the
Group's Golden Gate's acquisition of ECCA (The ECCA
Acquisition).

The Provisional Liquidators note, however, that for the quarter
ended July 2, 2005, ECCA's net income totaled US$1.8 million and
ECCA's adjusted EBITDA for the same period was US$14.4 million.
As disclosed in recent press reports, ECCA's long-term debt has
increased from US$223.9 million to US$316.8 million. The
Provisional Liquidators note, however, that this is largely a
result of the funding of the ECCA Acquisition, which was
disclosed by the Company in detail in its circular to
shareholders dated February 12, 2005 in respect of the ECCA
Acquisition (the Circular).

The arrangements between Golden Gate and the Group in relation
to each party's rights in respect of the investment in ECCA are
described in detail in the Circular.

Contrary to recent press reports, ECCA is not currently seeking
to raise a further US$152 million but rather is seeking to have
its existing 10 3/4 Senior Subordinated Notes due 2015 with an
aggregate principal amount of US$152 million (as described in
the Circular) exchanged for new registered notes. The new notes
will evidence the same indebtedness, be for the same principal
amount and will, in all material respects, be subject to the
same terms and conditions as the existing notes but will not
contain restrictions on transfer.

Trading in the Company's shares has been suspended at the
request of the Company with effect from 9:30 a.m. on April 18,
2005 and will continue to be suspended until further
announcement. Shareholders and the public are advised to
exercise caution when dealing in the shares in the Company.

For more information, go to
http://bankrupt.com/misc/tcrap_moulin1010.pdf

For and on behalf of
Moulin Global Eyecare Holdings Limited
(Provisional Liquidators Appointed)
Roderick John Sutton]
Desmond Chung Seng Chiong
Joint and Several Provisional Liquidators
Hong Kong October 6, 2005

CONTACT:

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


NEW WORLD: FY/2005 Net Loss Narrows to HK$866 Mln
-------------------------------------------------
New World TMT (0301) incurred a net loss of HK$866.224 million
for the financial year ended June 30, versus a net loss of
HK$5.507 billion in the same period a year earlier, reports
Infocast News.

Loss per share was HK$0.91. No final dividend was declared.

Following the completion of the disposal of traditional
infrastructure assets during the year, the principal activities
of the Group are the development, investment, operation and
management of telecommunications, media and technology
businesses.

CONTACT:

New World TMT Limited
Room 2008, 20th Floor
New World Tower 1
18 Queen's Road Central
Hong Kong  
Phone: 31816336  
Fax: 25259530  
Web site: http://www.nw-infra.com.hk


RBG GLOBAL: To Appoint Liquidators
----------------------------------
By order of Master S. Kwang dated September 12, 2005, Mr.
Malcolm Brian Shierson of Grant Thornton United Kingdom and Mr.
Alan Tang Chung Wah and Mr. Wong Kwok Man of Grant Thornton Hong
Kong have been appointed the Joint and Several Liquidators of
RBG Global S.A. (In Liquidation) without a committee of
inspection.

Dated this 7th day of October 2005

Malcolm Brian Shierson
Alan Tang Chung Wah
Wong Kwok Man
Joint and Several Liquidators
c/o Grant Thornton
13th Floor, Gloucester Tower
The Landmark
11 Pedder Street
Central
Hong Kong


SHENZHEN CHINA: Notes Unusual Price Fluctuation
-----------------------------------------------
Shenzhen China Bicycle Company (Holdings) Limited (SZSE: 000017,
200017) on September 26 saw its share price hit the down-limit
on daily price fluctuations for three consecutive trading days,
Panorama Network reports.

The company said it in business as usual and it has disclosed
all information required to be disclosed.

CONTACT:

Shenzhen China Bicycle Company (Holdings) Limited
No. 3008, Buxin Road,
Shenzhen, Guangdong Province 518019
People's Republic of China
E-mail: cbc@szcbc.com
Web site: www.cbc.com.cn


SPENDERS IMAGE: Winding Up Hearing Set November 23
--------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Spenders Image Limited by the High Court of Hong Kong Special
Administrative Region was on the September 21, 2005 presented to
the said Court by Spenders Image Limited whose registered office
is situate at Room 1906, Empress Plaza, 17-19 Chatham Road
South, Tsim Sha Tsui, Kowloon, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on November 23, 2005 and any creditor or contributory
of the said company desirous to support or oppose the making of
an order on the said petition may appear at the time of hearing
by himself or his counsel for that purpose.

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

TSANG, CHAN & WOO
Solicitors for the Petitioner
12th Floor, Grand Building
15-18 Connaught Road Central
Central, Hong Kong

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


DALIAN CHANGXING: Shenzhen Stock Exchange Delists Securities
------------------------------------------------------------
The Shenzhen Stock Exchange delisted the stock of Dalian
Changxing Industry Co., Ltd. (SZSE: 000827) on September 21
after posting losses for three consecutive years, Panorama
Network reports.

The company did not apply to the Shenzhen Stock Exchange for
trading resumption within required time limit.

The exchange therefore decides to delist the company's stock as
of September 21, 2005.

CONTACT:

Dalian Changxing Industry Co. Ltd.
Number 15, Lvzhou Garden
Southwest Road
Ganjingzi District
Dalian, China.
P.C.: 116031
Phone: 0086-411-86718039
Fax: 0086-411-86718369
E-mail: zyx@dlcastings.com


TISCO SECURITIES: SFC Reprimands Firm
-------------------------------------
The Securities and Futures Commission (SFC) has reprimanded
TISCO Securities Hong Kong Limited (TISCOHK) and suspended its
responsible officer, Mr. Lam Ho Chu Wilson, and licensed
representative, Mr. Yam Shun Hung, for nine months and six
months respectively for breaching General Principle 2 of the
Code of Conduct for Persons Registered with the Securities and
Futures Commission (April 2001) (Notes 1 and 2). Lam is
suspended from October 3, 2005 to July 2, 2006. Yam is suspended
from October 3, 2005 to April 2, 2006.

An SFC investigation into suspected market manipulation of three
warrants during the period 28 November 2001 to 20 August 2002
(the relevant period) found that the prices of the warrants had
risen rapidly since their flotation to levels higher than those
of their underlying stocks. Considering that the conversion
ratio of the warrants was one to one (i.e. one warrant to be
converted into one ordinary share), no sensible investor would
be interested in buying the warrants at these price levels
since, apart from the cost of the warrants, he would have to pay
the exercise price for converting the warrants into shares.

Nonetheless, four corporate clients of TISCOHK actively dealt in
the warrants during the relevant period. These clients bought
the warrants at prices above those of their underlying stocks on
48 trading days within the relevant period. These acquisitions
accounted for more than 90% of the daily market turnover in the
warrants on 44 days.

Upon receipt of clients' dealing instructions, TISCOHK's staff
did not ascertain basic information relating to the warrants,
such as the gearing ratio and premium. Although Lam and another
responsible officer of TISCOHK reviewed the clients'
transactions, Lam failed to detect the irregular features of the
transactions, whereas the other responsible officer, despite
having identified the unusual transactions, failed to make
reasonable enquiries with the clients. This second responsible
officer is no longer employed by TISCOHK. The SFC attributed the
acts of the two responsible officers to the company, as they
were the only responsible officers and the company's directing
mind and will. Yam, being the main dealer responsible for
executing the clients' orders, failed to inform the clients of
the irregularities of their transactions or report his
observation to his supervisor, even though he knew that the
clients had been buying the warrants at prices higher than those
of their underlying stocks.

Where an irregularity in trading is noted, staff of TISCOHK
should make reasonable enquiries with the clients whether there
is an error in the dealing instructions and advise the clients
of the irregularity accordingly. If there is no error, staff
should ask the reason for the transactions to determine if they
are legal and proper. If the clients fail to satisfy the staff
on reasonable grounds that the trades are legal or proper, the
staff should cease to trade on their behalf.

In light of the above findings, the SFC concludes that the
fitness and properness of TISCOHK, Lam and Yam has been called
into question and decides to reprimand TISCOHK and suspend Lam
and Yam. In reaching this decision, the SFC has taken into
account that:

TISCOHK has adopted new procedures to monitor its clients'
trading activities;
TISCOHK, Lam and Yam co-operated fully with the SFC in the
conduct of its investigation; and
neither TISCOHK nor any of its employees was knowingly involved
in market manipulation or any other misleading or deceptive
conduct.

Mr Alan Linning, SFC's Executive Director of Enforcement, said,
"In conducting its business activities, a licensee should act
with due skill, care and diligence, in the best interests of its
clients and the integrity of the market. In certain
circumstances, the acts of the responsible officers will be
imputed to the licensed corporation. Responsible officers should
not turn a blind eye to the activities of their staff or
clients. Failure by the responsible officers to ensure
compliance with the Code of Conduct by their staff is likely to
subject the licensed corporation to disciplinary action."

CONTACT:

TISCO Securitise Hong Kong Limited
Room 1008-10
10/F, Two Pacific Place
88 Queensway, Hong Kong


TREASURE PROPERTIES: Releases Debt Claim Notice
-----------------------------------------------
Notice is hereby given that the creditors of Treasure Properties
Limited (In Creditors' Voluntary Liquidation), which is being
voluntarily wound up, are required (if they have not already
done so), on or before October 19, 2005, to send in their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors.

If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors to come in and
prove their said debts or claims at such time and place as shall
be specified in such notice.

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

Dated this 5th day of October, 2005

DESMOND CHIONG
Joint and Several Liquidator
c/o Ferrier Hodgson Limited
14/F., Hong Kong Club Building
3A Chater Road
Central, Hong Kong


WELLAGE LIMITED: Winding Up Hearing Fixed November 16
-----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Wellage Limited by the High Court of Hong Kong Special
Administrative Region was on September 12, 2005 presented to the
said Court by Bank of China (Hong Kong) Limited (the successor
banking corporation to Kincheng Banking Corporation pursuant to
Bank of China (Hong Kong) Limited (Merger) Ordinance (Cap.1167)
whose registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.  

The said Petition is to be heard before the Court at 9:30 a.m.
on November 16, 2005.

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

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

SIGNED: K. W. NG & CO.
Solicitors for the Petitioner
11/F., Wings Building
110 Queen's Road Central
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 15, 2005.


YUNHAN INVESTMENTS: Court to Hear Winding Up Petition November 9
----------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Yunhan Investments Limited by the High Court of Hong Kong
Special Administrative Region was on September 8, 2005 presented
to the said Court by Bank of China (Hong Kong) Limited (the
successor banking corporation to Kincheng Banking Corporation
pursuant to Bank of China (Hong Kong) Limited (Merger) Ordinance
(Cap.1167) whose registered office is situated at 14th Floor,
Bank of China Tower, 1 Garden Road, Hong Kong.  

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

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

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

CHU & LAU
Solicitors for the Petitioner
2nd Floor, The Chinese General Chamber of Commerce Building
No. 24-25 Connaught Road
Central, Hong Kong

Note: Any person who intends to appear on the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 8, 2005.


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

DIGITAL STOCKS: Found Defrauding Small Investors
------------------------------------------------
The Securities and Exchange Board of India (SEBI) vide order
dated October 5, 2005 has issued the following directions in the
matter of M/s Digital Stocks & its Proprietor, Shri Dheeraj
Kumar Madaan, (2) Ganpati Finsec Pvt Ltd and its directors Shri
Devender Mittal, Smt. Ritu Mittal and Dr. K.C Mittal:

1. Shri Dheeraj Kumar Madaan, Proprietor of M/s Digital Stocks,
having its office at 3, Circular Road, Mawa Market, Abohar,
District Ferozepur (Punjab) is prohibited, with immediate
effect, from buying, selling or dealing in securities or being
associated with the securities market in any manner.

2. Ganpati Finsec Pvt Ltd (GFPL) and its directors namely Shri
Devender Mittal, Smt. Ritu Mittal and Dr. K.C Mittal are
prohibited, with immediate effect, from buying, selling or
dealing in securities or being associated with the securities
market in any manner whatsoever.

3. NSDL/CDSL shall freeze, with immediate effect, all the demat
accounts of Digital Stocks and its proprietor Shri Dheeraj Kumar
Madaan, maintained with them.

4. India Bulls Securities Ltd shall freeze, with immediate
effect, the trading account of Digital Stocks and its proprietor
Shri Dheeraj Kumar Madaan.

5. Appropriate proceedings are being initiated against SMC
Securities Ltd. and SAM Global Securities Ltd. for alleged
irregularities in their franchisee operations. In the meantime,
these brokers are directed to review their systems and
procedures and confirm to SEBI within 15 days from the date of
receipt of the order that all their operations are within the
framework of SEBI regulations, rules and guidelines.

All the above directions shall take effect immediately and shall
be in force until further orders.

SEBI received a complaint from Abohar Investor Forum (AIF) from
Abohar, District Firozepur, Punjab and other investors alleging
misappropriation of shares and funds of small investors by one
Shri Dheeraj Kumar Madaan (hereinafter referred to as DKM),
Proprietor of M/s Digital Stocks, having its address at 3,
Circular Road, Mawa Market, Abohar, District Ferozepur (Punjab).
It was also alleged that that DKM was an associate of M/s
Ganpati Finsec P. Ltd., who was a sub-broker of SAM Global
Securities Ltd. (member BSE) and that DKM had absconded on 30th
June 2005 with investors' money. Additionally, there were
widespread media reports highlighting the fact that DKM had run
away with huge money/ shares of investors. Thereafter, a
preliminary investigation into the matter was conducted.

The enquiries made by SEBI prima-facie revealed the following.

1. SMC claims to have its branch office at Abohar. SMC has
further informed that it had entrusted the management of its
said branch to its franchisee viz. GFPL, who is based in Sri
Ganganagar, Rajasthan. GFPL in turn appointed DKM as the sub
agent for managing SMC's so-called branch at Abohar. DKM was
managing SMC's so-called branch at Abohar for around 3 years.
DKM was neither an employee of GFPL nor of SMC.  

2. DKM was trading for a large number of Abohar based investors.
DKM was not putting client codes on the terminals and all the
orders by various Abohar based clients were placed in common
client code i.e. 99G606, which is of GFPL.

3. DKM had without informing his investors, closed his
establishment and run away on 30th June 2005 with the money/
shares of various investors. He along with his wife are
reportedly untraceable till date.

4. The investors thereafter formed an association in the name of
"Abohar Investors Forum" to get their dues. AIF had initially
contacted Shri Devender Mittal of GFPL, Ganganagar, but he
refused to acknowledge investors' claim. After DKM became
untraceable, AIF had advertised in local newspaper asking
investors to register with AIF. 59 investors have made a claim
of around INR50 lacs with AIF.

5. SMC has subsequently informed that it had suspended all the
trading IDs of its NSE terminals located in Abohar. Further, SAM
had informed that it had frozen the demat account of DKM with
it.

6. DKM even after running away with investor funds/shares on
30.06.2005 continues to be actively involved in securities
business and is trading through internet module of India Bulls

The findings of the preliminary investigation as above brought
out that DKM defrauded small investors of their money & shares.
These activities are in violation of SEBI (Prohibition of
Fraudulent and Unfair Trade practices relating to securities
market) Regulations, 2003. Further, the dealings by DKM as an
unregistered sub-broker is prima facie in violation of section
12(1) of SEBI Act, 1992 and Rule 3 of SEBI (Stockbroker and Sub
Brokers) Rules, 1992. Furthermore, even GFPL was not registered
with SEBI as a sub-broker and was thus acting as unregistered
sub-broker in violation of section 12(1) of SEBI Act and Rule 3
of SEBI (Stockbrokers and Sub brokers) Rules, 1992.  Apart from
the above, brokers SAM Global Securities Ltd. and SMC Securities
Ltd. have also prima facie violated SEBI circular
SMDRP/Policy/Cir/49/2001 dated 22.10.01 by giving trading
terminals at places other than registered office, branch office
or registered sub-broker offices. It was prima facie seen that
SMC/SAM has installed their terminals at various places in and
around Sri Ganganagar (including Abohar).  SMC/ SAM have a
franchise agreement with GFPL, specifically for Sri Ganganagar
location and their terminals at other places were also being
managed by GFPL.

Under the facts and circumstances as stated above, it is
therefore incumbent upon the regulator to take emergent and
remedial steps to safeguard the interests of the investors and
the orderly development of the securities market.  In view of
the aforesaid and with a view to protect the interest of
investors, Shri G. Anantharaman, Whole Time Member, SEBI has
passed the above order.


ELTROL LTD.:  SEBI Bars Firm, Directors
---------------------------------------
The Securities and Exchange Board of India (SEBI) vide order
dated October 5, 2005 has issued the following directions in the
matter of Eltrol Ltd. (Eltrol):

The directors of Eltrol namely, Shri Chittarmal Sharma, Shri
Deepak Rathod, Shri Sanjay G Tripathi and Shri Niraj Sanghvi are
hereby directed not to buy, sell, pledge or deal in securities
of Eltrol, directly or indirectly, till further directions in
this regard. Eltrol is directed not to issue any equity shares
or any other instrument convertible into equity shares or alter
its capital structure in any manner till further directions in
this regard.

The following top 10 trading clients at BSE are directed not to
buy, sell or deal in securities of Eltrol, in any manner,
directly or indirectly, till further directions in this regard:

1. PRIYAM SECURITIES (PREMSUKH KANDELWAL)

2. PRAVINKUMAR JAIN (MAARS SOFTWARE INTERNATIONAL LTD.)

3. ANIL SOLANKI

4. MAHESH VORA (JMP SECURITIES PVT Ltd)

5. NAVIN PATEL

6. AMIT SAHITA FINANCE PVT. LTD.

7. BHAGWANDAS JAJU

8. JAYESHKUMAR SHAH

9. SHAILESH NISSAR

10.NARESH JAIN

The following entities who are apparently connected with /
related to each other are directed not to buy, sell or deal in
securities of Eltrol, in any manner, directly or indirectly,
till further directions in this regard:

1. DALSUKHBHAI PATEL

2. VINOD PATEL

3. RAMNIKLAL PATEL

4. VIKAS NAKNAVAR

5. VIKAS BENGANI

6. ANIL KANTILAL SHAH

7. RAMDAS KSHIRSAGAR, DIRECTOR OF IFSL LTD.

8. CHARU NIRAJ SANGHVI

9. SHRI VIKRAM SINGH RAJPUT

10.SHRI SHIVARAM MOTILAL MEENA

11.SMT. KUSUM DEEPAK RATHOD

12.T H VAKIL SHARES AND SECURITIES P LTD.

13.MANGALABEN A DOSHI

14.ASHWIN D DOSHI

15.VIRAL C SHAH

16.JIGNESH P. LAKHLANI

17.NAVIN TRIKAMDAS THAKKAR

18.TARUN V. SHAH

19.SHILPA P SAKPAL

20.AMIT EASY FINANCE LIMITED

21.HARSIDDHI MAN-POWER SERVICES PVT LTD

22.SHREERATH MARKETING PRIVATE LIMITED

23.LILA  LABORATORIES (INDIA ) LTD

24.HITENDRA  CHATURBHAI  MAKWANA

25.KARNI AJAYSINGH JAGDISHSINGH RATHORE

That the following brokers of BSE are hereby directed not to
buy, sell or deal in securities of Eltrol, directly or
indirectly, till further directions in this regard:

1. SANCHAY FINCOM Ltd.

2. BAKLIWAL FINANCIAL SERVICES (INDIA) P Ltd.

3. M/S. HARIKISHAN HIRALAL

4. JMP SEC PVT Ltd

5. P.J.CHAUDHARY

6. AMIT SAHITA FINANCE PVT.

7. M R SHARE BROKER LTD

8. S.M.NISSAR

9. NCJ SHARE & STOCK BROKERS

10.ADOLF PINTO

11.INDUS PORTFOLIO P Ltd.

That the following brokers of NSE are hereby directed not to
buy, sell or deal in securities on behalf of Eltrol, directly or
indirectly, till further directions in this regard:

1. SS CORPORATE SECURITIES LIMITED

2. INDUS PORTFOLIO (P) LTD.

3. INDIABULLS SECURITIES LTD.

4. INSIGHT SHARE BROKERS PVT. LTD.

5. BAKLIWAL FINANCIAL SERVICES (INDIA) P.LTD.

6. SSJ HOLDINGS PRIVATE LIMITED

7. INSIGHT SHARE BROKERS PVT. LTD.

Eltrol is directed to cease dealings in the securities market in
any manner, directly or indirectly, till further directions.

The major stock exchanges viz. BSE and NSE and the depositories
viz. NSDL and CDSL are directed to ensure that all the above
directions are strictly enforced.

In the recent past, there was an unprecedented increase in price
and trading interest in the share of Eltrol (which has recently
changed its name to "Shree Mahaganga Sugar Mills Ltd."), on BSE.
During the period from March 1, 2005 to September 23, 2005, the
price of the share of Eltrol (face value Re.1/-), duly adjusted
for corporate actions, on BSE, opened at INR0.47 touched a high
of INR3.52 on September 1, 2005, a low of INR0.43 on March 2,
2005 and closed at INR1.85 on September 29, 2005. Thus, during
the 128 trading days from March 1, 2005 to September 1, 2005,
the price of the share on BSE has shown a rise of 649%. Upon
examination, SEBI found that there is no identifiable promoter
of Eltrol. The directors of the company who claim to be
professional directors do not appear to have any knowledge about
the industry in which the company is purportedly operating. The
directors of the company are engaged in courier business which
has no apparent relation with engineering or sugar business that
Eltrol is purportedly engaged in.

The past financial performance of the company has been dismal
and the company has accumulated losses. The company has not
declared any dividend for the past many years. The company has
discontinued production activities and is purportedly exploring
entering into new business areas. The company has made
preferential allotment to two NBFCs namely Oudh Finance &
Investment Private Limited and Basmati Securities Pvt. Ltd. at a
premium of INR6.50 per share (face value of Re.1/-). The source
of funds of these NBFCs is not known and probably these NBFCs
have taken Fixed Deposits from the public, the repayment of
which could be imperiled by the unwise if not blatantly
manipulative action of the promoters / management of these
NBFCs. In any case, the rationale for the two NBFCs to invest in
Eltrol shares at such a huge premium needs further probe. That
apart, Eltrol has apparently diverted the money received through
preferential allotment to stock brokers for indulging in stock
market operations and has tried to hide this fact by claiming
that the funds have been invested in the assets of the company.
The issue of working capital funds belonging to corporates being
diverted for stock market operations which activity is not in
consonance with the regular business activities of corporates
has been a major concern for SEBI in the recent past. The
activities of Eltrol as detailed above confirm the concerns of
SEBI in this regard.

Besides the above, SEBI found that there were various other
announcements by the company such as announcement of bonus
issue, taking over of another company etc. probably made with a
view to paint a rosy picture. During this period, various major
trading clients at BSE were found to have made off-market
transfers to certain common entities indicating that all these
entities were connected with / related to each other. In view of
the above, SEBI is initiating investigations into the matter and
in the meanwhile, SEBI has, under Sections 11B, 11D and 11(4)(b)
of SEBI Act, 1992, issued ex-parte ad interim directions with
immediate effect as above.


SANYO-BPL: Outlines New Strategies
----------------------------------
Newly formed joint venture, Sanyo-BPL, has outlines strategies
to establish its presence in the Indian market, Business
Standard reports.

The company, a 50:50 venture between Sanyo Electric Co. Ltd. and
BPL Limited, prepares to offer its product in the market early
this month.

The BPL brand will solely focus on mass-market color televisions
and the Sanyo brand will concentrate on high-end CTVs and other
home appliances such as refrigerators, microwave ovens and air
conditioners.

A senior official of the company said that they have had
detailed discussions with dealers in Bangalore and New Delhi who
have expressed optimism in BPL and Sanyo brands.

Over the next nine to 12 months, Sanyo-BPL will work to
establish its Sanyo brand while not neglecting the BPL brand.

Sanyo is placing a good amount of focus on the Indian
operations, and has nominated the head of its North American
operations Keiji Oshima as the COO of the JV, with the CEO being
Ajit Nambiar. The CFO is also from Sanyo and in addition to
these key positions, Sanyo has deputed key executives from the
manufacturing sector.  
  
Sanyo-BPL will be majority importing all Sanyo products from its
Thailand and Vietnam manufacturing units. India's recent Free
Trade Agreement (FTA) with Thailand will also help the JV in
bringing products to India at competitive rates.  

Despite Sanyo's dominance, BPL is still mapping out plans not to
let its 50-percent stake diminish.

About SANYO:

SANYO Electric Co., Ltd. is one of the world's major consumer
electronics companies. Leading the way in innovations that
expand the scope of multimedia product technology, SANYO
continues to advance business enterprise development supplying
world-class electronic products to satisfy rapidly evolving
markets. SANYO's businesses cover a broad range of multimedia
and information systems, home appliances, commercial equipment,
electronic devices, batteries and other products. SANYO's net
sales in the fiscal year ending on March 31, 2004, amounted to
2,508 billion yen (US$22.2 billion). The SANYO group is truly an
international organization, comprising 84 manufacturing
companies, 37 sales companies and 39 other companies worldwide.

About BPL Limited:

BPL Group was promoted by the founder, TPG Nambiar. The flagship
company, BPL Limited was incorporated in 1963 as a private
limited company under the name British Physical Laboratories
India Private Limited for the manufacture of electronic test and
measuring instruments in collaboration with BPL Instruments Ltd.
UK. The company further expanded into such electronic products
as medical systems and equipments, powerline carrier
communication equipments, copiers, monitors etc. Making its
foray into consumer electronics in 1982, BPL quickly established
itself as one of India's most trusted consumer durable brands.
Huge investment in manufacturing, marketing & distribution
infrastructure, and brand building have made BPL a leader in the
consumer durable industry. BPL today enjoys the highest brand
awareness amongst consumer electronics brands and also has one
of the highest preference shares in the CTV industry. BPL is
currently engaged in the production and sales of televisions,
home theatre systems, medical equipment, automotive parts,
electronic components and alkaline batteries.


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

BANK MANDIRI: Fitch Ratings Service Downgrades Rating to `D'
------------------------------------------------------------
On Oct. 6, 2005, Fitch Ratings today downgraded PT Bank Mandiri
Tbk's Individual rating to 'D' from 'C/D' while affirming its
other ratings as follows: Long-term foreign currency at 'BB-'
(BB minus), Short-term foreign currency at 'B', Long-term local
currency at 'BB-' (BB minus), National Long-term rating at
'A(idn)' and Support at '4'. The rating on its USD125 million
subordinated debt is also affirmed at 'B+'. The Outlook for the
Long-term ratings remains Positive.

The downgrade of the bank's Individual rating reflects its
weakening of profitability to below-average levels and recent
asset quality weaknesses. However, Bank Mandiri's current
ratings also take into account its adequate capitalisation,
considerable size and franchise, and government ownership.
The dramatic rise in NPLs at Bank Mandiri over the first half
2005 - up by IDR18.6 trillion with the gross NPL ratio rising to
24.6% from 7.1% - was due both to the adoption of harsher new
regulations on NPLs classification as well as some weakening in
the quality of its corporate and commercial loans. While the
former accounted for the bulk of the downgrades, the latter
accounted for 20%-30% of them, albeit under the more
qualitative-driven credit assessment now required by the central
bank.

Noting the more challenging conditions in Indonesia now and
going forward (with higher interest rates and a weaker
currency), Fitch also believes that a portion of the loan
downgrades may well have also been motivated by management's
desire to begin their tenure with little further downside for
loans quality; of the total loans downgraded to NPL status over
first half 2005, 59% were technically performing loans (ie.
current in their interest payments), while another 23% were
overdue by less than 30 days.

Meanwhile, the fall in provision cover to 43% as at end-June
2005 seems uncomfortably low in the context of the riskier
conditions in Indonesia including foreclosure difficulties.
Stress testing by Fitch suggests that additional provisions of
c.IDR7trn may be required, where about two years of earnings
should help cover based on a pre-tax ROA of about 1.5% p.a.
Fitch also notes that Bank Mandiri continues to carry excess
reserves for other items (eg. litigation, guarantees, L/Cs)
estimated at c.IDR1.5trn. Although significant impairment to
Bank Mandiri's satisfactory existing capital position -
equity/asset of 8.9% at end-June 2005 (total CAR of 23.3%) - is
unlikely, this is assuming no further significant deterioration
to asset quality. This remains to be seen given the as yet
uncertain impact of the now weaker currency and rising interest
rates.

Underlying profitability as measured by pre-provision ROA fell
to 2.3% over first half 2005 (2004: 3.0%) on lower margins,
weaker operating leverage and smaller securities trading gains.
Fitch expects limited improvements in these variables over the
next 6-12 months under the now more challenging operating
conditions.
  
CONTACT:

PT Bank Mandiri
Jl Jend Gatot Subroto Kav 36-38
Jakarta 12190
Indonesia
Phone: 62 21 5299 7777/5296 4023
Web site: http://www.bankmandiri.co.id


KIANI KERTAS: Deutsche Bank Interested in Acquiring Firm
--------------------------------------------------------
A consortium of Deutsche Bank and United Fiber System Limited
(UFS) has submitted a bid to acquire troubled paper firm PT
Kiani Kertas (KK), Asia Pulse reports.

The consortium joins JP Morgan and Merrill Lynch, who have also
submitted bids to take over the operations of the Indonesian
pulp and paper company. Deutsche Bank and UFS have offered to
pay USD200 million (IDR2 trillion) to take over the Company and
repay a USD170 million (IDR1.71 trillion) owed to state lender
PT Bank Mandiri.

Kiani Kertas' IDR1.71 trillion debt to Bank Mandiri must be
repaid by November 2007.

UFS, which is in the process of acquiring KK, entered into an
Operational Management Agreement to manage the Company's pulp
mill and receive proceeds from the sale of the pulp contract,
while conducting due diligence on the Company. UFS has already
resumed normal operations in the Company's pulp mill.

CONTACT:

PT Kiani Kertas
Bidakara Building, 9th Floor
Jl. Gatot Subroto Kav. 71-73
Jakarta, 12870
Indonesia
Phone : +62(021)8379-3211
Fax:    +62(21)8379-3215
Web site: http://www.kiani.com


PERTAMINA: LPG Production Output Drops by 20%
---------------------------------------------
State-owned oil and gas firm PT Pertamina's production output of
liquefied petroleum gas (LPG) has been reduced by 20% due to
maintenace shutdowns in the Company's refineries and operational
problems, reports the Jakarta Post.

According to Pertamina trading and marketing director Ari
Soemarno, the Company is operating its Balongan refinery at full
capacity to meet demand in Java, in order to compensate for the
drop in LPG production at its Balikpapan & Cilacap refineries.
The Company is also looking to import around 6,000 metric tons
of LPG from sources in Malaysia, Singapore and Thailand.

Prices of LPG have increased in the past few days due to reports
of a gas shortage. The government-planned fuel price hike has
also forced distributors to raise LPG prices due to increased
transportation costs. The price of a 12-kilogram LPG tank has
risen from IDR51,000 to IDR73,000.

Mr. Soemarno said that Pertamina plans to raise LPG prices, but
they are still unsure by how much and when the increase would
take effect. Pertamina spokesman Mochamad Harun said that the
increase in LPG prices is due to rising fuel costs, although the
Company is working with retialers in order to sell LPG at a
cheaper price.

Indonesia produces up to 4 million tons of LPG annually, but
less than half is sold to the local market.


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

HITACHI LIMITED: Sees 54% Rise in Power Unit Sales by 2016
----------------------------------------------------------
Hitachi Limited is targeting a 54 percent boost in sales in its
power systems unit in the next 10 years, according to Reuters.

The company forecast sales at its power systems business to
reach JPY730 billion ($6.40 billion) in the business year ending
March 2011 and 800 billion yen ($7.01 billion) by March 2016.
Sales at the unit in the year to March 2005 were JPY520 billion.
The unit made losses in the last two business years.

Hitachi's total group sales in the year ended March 2005 were
9.27 trillion yen and net profit was 51.5 billion yen.

CONTACT:

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


HITACHI LIMITED: Enters JV Deal with Takeda Pharmaceutical
----------------------------------------------------------
Hitachi Limited and Takeda Pharmaceutical has recently agreed to
establish a joint venture company for information system service
as of September 29, Japan Corporate News reports.

Accordingly, Takeda Pharmaceutical will outsource its
information system function to the new company and receive cost-
effective, high-quality service for 10 years.

The new company, which will be operational as of April 1 2006,
plans to develop information systems for the pharmaceutical
industry.

Hitachi will hold a 66% stake in the new company and Takeda
Pharmaceutical will retain the remaining 34%. The new company
will become a wholly owned unit of Hitachi after two years.


JAPAN AIRLINES: To Enter Innovative Maintenance Deal With Boeing
----------------------------------------------------------------
Boeing Commercial Aviation Services announced that Japan
Airlines (JAL) is the first licensed customer of the Maintenance
Performance Toolbox, an innovative set of performance-enhancing
solutions for aircraft maintenance and troubleshooting.

Accessible via an Internet browser as a secured, hosted service,
the "Maintenance Toolbox" is a key component within Boeing's
evolving portfolio of performance-enhancing solutions for
aircraft maintenance. Under the new agreement, JAL has access to
the Structures Tool within Maintenance Toolbox.

Maintenance Toolbox uses intelligent documents and visual
navigation methods to help technical operations staff
troubleshoot airplane systems and manage structural repair
records, parts, and task cards. The Structures Tool provides 3D
models for recording, viewing, and analyzing structural repairs,
making use of accumulated repair knowledge, and maintaining
records of repair activities for multiple fleet types. It also
includes a repair history database of records that includes
details of repairs and repair locations on one or more aircraft.
Users can search the database for information about repairs
performed in specific areas of the airplane, search for similar
repairs on other airplanes in their fleet, and enter/edit/delete
repair records.

Mr. Hideo Hiramoto, vice president of the engineering department
at JAL, said, "We are very pleased to be the launch customer for
the Structures Tool of the Maintenance Performance Toolbox
because we are the development partner for this innovative
product. We are excited with the completion of the project, as
we know it will help us to accomplish more reliable maintenance
operations."

Boeing provides secure hosting for all of JAL's data and
reliable access to the user interface of the Structures Tool
through MyBoeingFleet.com. Engineers need only a computer - a
laptop, desktop or pen tablet - and an Internet connection to
access the system.

Maintenance Toolbox is a key element of Boeing's effort to e-
Enable the air transport system. Boeing intends to offer
content, applications, and services that connect all the data
generated by an entire flight operation - in the air, on the
ground and in the hangar -- meaningful to all users: pilots,
mechanics, flight attendants, operations departments and airport
users - and other potential customers.

This is a company press release.

CONTACT:

Japan Airlines Corporation Company
2-4-11, Higashi-shinagawa, Shinagawa-ku
Tokyo 140-8605, Japan  
Phone: +81-0120-25-5931


KANEBO LIMITED: IRCJ Picks 4 Groups in Second Tender
----------------------------------------------------
The number of bidders to take over Kanebo Limited has been
narrowed down to four, including a consortium led by household
products maker Kao Corporation, reports Japan Today.

The Industrial Revitalization Corp of Japan has narrowed down
the number of possible sponsors to four, the reports said.

In addition to Kao, the three other successful bidders in the
second tender are teams of JAFCO Co. and the Japanese unit of
European investment fund CVC Capital Partners Ltd, of Daiwa
Securities SMBC Principal Investments Co and RHJ International
SA.

CONTACT:

Kanebo Limited
20-20 Kaigan 3-chome, Minato-ku
Tokyo 108-8080, Japan  
Phone: +81-3-5446-3002
Fax: +81-3-5446-3027


SANYO ELECTRIC: Mulls Tie-up With Mitsui & Co.
----------------------------------------------
Sanyo Electric Co. is in talks with Mitsui Co. for an operation
tie-up including the sale of a stake in its finance business,
according to Reuters.

Sanyo Electric Credit generates healthy cash flow but adds more
than JPY300 billion ($2.65 billion) in debt to Sanyo's strained
balance sheet. The move would help Sanyo achieve its goal of
halving its interest-bearing debt of JPY1.2 trillion.

CONTACT:

Sanyo Electric Co. Ltd.
5-5 Keihan-Hondori 2-Chome
Moriguchi 570-8677, Osaka 570-8677
JAPAN  
Phone: +81 6 6991 1181
Fax: +81 6 6991 6566  
Web site: http://www.sanyo.co.jp/koho/index_e.html


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

ASIANA AIRLINES: Introduces New Flights to the Philippines
----------------------------------------------------------
The increase in Korean tourists heading for the Philippines
prompted Korean carrier Asiana Airlines International to
increase its passenger flights to the country, The Manila Times
relates.

Asiana's station manager Jhung Sun Don stated that the carrier
will add two passenger flights a week from Manila to Pusan Korea
this month.

This brings Asiana's passenger flights to a week by October. Of
these, 11 flights will be for the Manila to Incheon route; four
for the Manila to Pusan route; five for the Clark to Incheon
route and four for the Cebu to Incheon route.

The reason of the growing number of Koreans visiting the
Philippines is to study the English language, play golf, or
enjoy a vacation in world-class Boracay Island resort.

Mr. Sun Don said the Philippines is second only to Hong Kong-and
a close one, at that-as the top destination of Korean tourists.

Koreans visiting the Philippines increased by 29.5 percent
compared to the same period last year.  For the month of July,
the number of Korean tourists reached 47,265 visitors, or 51.7
percent higher than last year's 31,148.

CONTACT:

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


DAEWOO MOTOR: Uzbekistan Fully Pays 50% Stake
---------------------------------------------
Uzbekistan has purchased the 50 percent stake held by Daewoo
Motor in their joint venture, reports Reuters.  But Uzbekistan
is still mum whether it will seek a new foreign partner.   

The last payment for the stake was made on Wednesday, an
official who prefers anonymity said. However, the official
declined to state the cost of the deal or give out the
government's immediate plans for the plant.

Avtosanoat (Uzavtoprom, manages the 50 per cent state share in
UzDaewooAuto) signed an agreement in May 2005 with the Daewoo
Motor creditor committee on the payment and transfer to
Uzbekistan of 50 per cent of the shares in UzDaewooAuto.

Uz-Daewoo Auto launched the conveyor assembly of Daewoo cars in
1996 at a plant located in Asaka in Uzbekistan's Eastern Adizhan
region.

Uz-Daewoo Auto has a capacity of 200,000 cars a year, was
estimated to be worth $650 million and its charter capital was
worth around $200 million.

The plant targets to assemble 110,500 Daewoo-brand cars this
year, up from 70,070 in 2004. Exports, bound mostly for Russia,
are set to rise to 56,926 cars this year from 35,659 in 2004

Daewoo Motor, currently in bankruptcy, continues to remain a
legal shareholder of UzDaewooAuto. The company must settle
property relations with all partners in foreign countries by
October under an order by Korean authorities.

Daewoo Motor collapsed during the Asian economic crisis in the
late 1990s and General Motors Corp. and partners took a majority
stake in some of its assets in 2002.


SAMSUNG MOTOR: Creditors Lose Patience on Delayed Listing
---------------------------------------------------------
Lee Kun-hee the billionaire owner of Samsung Group claims no
responsibility over a multi-billion-dollar feud involving
Samsung Motor Co., reports Asia Pulse, citing Samsung
Electronics Co.'s top executive.

Samsung Group has been fighting a battle over the automakers'
unpaid debt worth about KRW4.7 trillion.  In an agreement with
the automakers' creditors, Mr. Lee guaranteed his shares in
Samsung Life Insurance Co. as debt payment for Samsung Motor.  
During that time, Samsung Life's share was valued at KRW700,000
on the assumption that it would be listed.

At the annual parliamentary audit, Vice Chairman Yun Jong-yong
of Samsung Electronics said there was a legal problem in an
agreement in 1999 with Samsung Motor's creditors.

The agreement stated that should the value of the insurers share
fall below KRW700,000, other Samsung affiliates will shoulder
the shortfall.  

With the delayed listing of Samsung Life shares, creditors have
lost patience as unpaid debt ballooned.

A recent TCR-Asia Pacific report said Samsung Life shares are
currently traded at KRW210,000 outside the market.


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

ANCOM BERHAD: Buys Back 38,500 Shares
-------------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:
   
Date of buy back: October 5, 2005

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

Total number of shares purchased (units): 38,500

Minimum price paid for each share purchased (MYR): 0.640

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

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 38,500

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

Cumulative net outstanding treasury shares as at to-date
(units): 14,467,700

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

CONTACT:

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


BUKIT KATIL: Wind-Up Order Granted Stay Until August 2006
---------------------------------------------------------
Bukit Katil Resources Berhad disclosed to Bursa Malysia
Securities Berhad that the Kuala Lumpur High Court on October 6,
2005 vide Companies Winding-up No. D3-28-923-2003 granted a stay
of the Winding-up Order dated September 8, 2004 against BKatil,
for a period until August 18, 2006 pursuant to the powers of the
High Court provided for in Section 243 of the Companies Act,
1965.

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela, Pusat Bandar
Damansara, Damansara Heights
Kuala Lumpur, 50490 Malaysia
Phone: +60 3 2095 7077
Fax: +60 3 2094 9940


DATUK KERAMAT: Appeals to High Court Decision
---------------------------------------------
Datuk Keramat Holdings Berhad refers to the announcement made to
Bursa Malaysia Securities Berhad in respect of Court of Judgment
in the sum of MYR88,384,865 against the company by Danaharta
Urus Sdn Bhd (Danaharta) on August 3, 2005.

The company informed the exchange that its Appeal to the Judge
in Chamber filed on January 20, 2005 against the summary
judgment entered by Danaharta, which was fixed for decision on
September 29, 2005 has been dismissed by the High Court.

The Company is contesting the claim and has instructed its
solicitors to appeal to the Court of Appeal against the decision
and further apply to the High Court for a stay of execution of
the summary judgment.

CONTACT:

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


FABER GROUP: Issues New Shares for Listing, Quotation
-----------------------------------------------------
Faber Group Berhad informed that its additional 106,050 new
ordinary shares of MYR1.00 each arising from the conversion of
MYR212,100 Nominal Value of 2000/2005 Irredeemable Convertible
Unsecured Loan Stocks into 106,050 New Ordinary Shares will be
granted listing and quotation with effect from 9:00 a.m.,
Friday, October 7, 2005.

CONTACT:

Faber Group Berhad
20th Floor
Menara 2 Faber Towers,
Jalan Desa Bahagia
Taman Desa, Off Jalan Klang Lama
58100 Kuala Lumpur
Telephone: 03-76282888
Fax: 03-76282828


FOUNTAIN VIEW: New Shares up for Listing, Quotation
---------------------------------------------------
Fountain View Development Berhad advised that its additional
690,000 new ordinary shares of MYR1.00 each issued pursuant to
the conversion of 690,000 Irredeemable Convertible Unsecured
Loan Stocks 2003/2006 into 690,000 new ordinary shares will be
granted listing and quotation with effect from 9:00 a.m.,
Monday, October 10, 2005.


HABIB CORPORATION: Bourse to List, Quote New Shares
---------------------------------------------------
Habib Corporation Berhad issued the following announcements to
Bursa Malaysia Securities Berhad.

(i) Acquisition of the marine logistics and offshore business of
Chuan Hup Holdings Limited satisfied by a cash payment of
SGD485,621,190 and the issuance of 170,000,000 new Habib shares
at an issue price of MYR1.15 each (Acquisitions).

(ii) Rights issue of 74,000.000 new Habib shares on the basis of
1 new Habib share for each existing Habib share held at an issue
price of MYR1.15 each (Rights Issue).

(iii) Restricted issue of 173,913,043 new Habib shares to Scomi
Group Berhad at an issue price of MYR1.15 each (Restricted
Issue)

Habib informed that its additional 417,913,043 new ordinary
shares of MYR1.00 each arising from the Acquisitions, Rights
Issue and Restricted Issue will be granted listing and quotation
with effect from 9:00 a.m., Friday, October 7, 2005.

CONTACT:

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


KILANG PAPAN: Bourse Extends Time to Comply with Requirements
-------------------------------------------------------------
Kilang Papan Seribu Daya Berhad advised Bursa Malaysia
Securities Berhad that it does not comply with paragraph 15.10
(1) (c) of the Listing Requirements which stipulates that at
least one member of the Audit Committee must be a member of the
Malaysian Institute of Accountants (MIA) or if he is not a
member of MIA, he must fulfill the criteria set out in paragraph
15.10 (c) (ii) (aa) or (bb).

The non-compliance is due to the introduction of the above
requirement by Bursa Malaysia. The company has not been able to
recruit a new member for its Audit Committee as none of the
candidates are willing to accept appointment until the Company's
Restructuring Scheme is implemented.

An extension of time until March 31, 2006 to fulfill the above
requirement has been granted by Bursa Malaysia.

The duration of the extension of time is approximately six
months from the date of this announcement.

CONTACT:

Kilang Papan Seribu Daya Berhad
Lot 1, Harmoni Industrial Estate Inanam
88100 Kota Kinabalu, Sabah
Telephone: 088-423385
Fax: 088-423287


LIEN HOE: Issues New Shares for Listing, Quotation
--------------------------------------------------
Lien Hoe Corp. Berhad advised that its additional 796,999 new
ordinary shares of MYR1.00 each issued pursuant to the
conversion of MYR796,999 nominal value of two percent 2002/2007
Irredeemable Convertible Unsecured Loan Stocks into 796,999 new
ordinary shares will be granted listing and quotation by Bursa
Malaysia Securities Berhad with effect from 9:00 a.m., Monday,
October 10, 2005.

CONTACT:

Lien Hoe Corporation Bhd   
18th Floor, Menara Lien Hoe 8,
Persiaran Tropicana,
Tropicana Golf & Country Resort,
Petaling Jaya Selangor 47410
Malaysia
Telephone: 03-78051331   
Fax: 03-78051331


MBF HOLDINGS: Unit's Summary Judgment for Mention Next Month  
------------------------------------------------------------
MBf Holdings Berhad informed Bursa Malaysia Securities Berhad
that on October 4, 2005, in the hearing of the Defendant's
appeal on the dismissal of the summary judgement against MBf
Automobile Sdn Bhd and MBfH via Kuala Lumpur High Court Suit
No.D5-22-1573-2004 has been fixed for mention on November 25,
2005.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad
Ding Lien Bing
Company Secretary
5 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


MECHMAR CORPORATION: No Changes to Repayment Agreement
------------------------------------------------------
Mechmar Corporation (Malaysia) Berhad informed Bursa Malaysia
Securities Berhad that there is no change in the agreed
arrangement to repay the restructured loans.

Click to view a report as at September 30, 2005 for reference
http://bankrupt.com/misc/MechmarCorporation1005805.xls

CONTACT:

Mechmar Corporation (Malaysia) Berhad   
No 1, Jalan Perunding, U1/17,
Seksyen U1, HICOM-Glenmarie Industrial Park,
Shah Alam Selangor 40150
Malaysia
Telephone: 03-55692828   
Fax: 03-55691316


PANTAI HOLDINGS: Bourse to List, Quote New Shares
-------------------------------------------------
Pantai Holdings Berhad advised that its additional 226,000 new
ordinary shares of MYR1.00 each arising from the conversion of
MYR226,000 Nominal Value of Irredeemable Convertible Unsecured
Loan Stocks 2002/2007 into 226,000 New Ordinary Shares will be
granted listing and quotation with effect from 9:00 a.m.,
Friday, October 7, 2005.

CONTACT:

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


QUALITY CONCRETE: Unveils Disposal, Acquisition of Securities
-------------------------------------------------------------
The Board of Directors informed Bursa Malayasia Securities
Berhad that Quality Concrete Holdings Berhad has entered into
the following disposals and acquisitions of quoted securities on
various dates as per Appendix I.

(1) Please refer to Appendix I for particulars of quoted shares
acquired or disposed off for the past 12 months.

To view a full copy of Appendix I, click
http://bankrupt.com/misc/QualityConcreteAppendixI100505.pdf

(2) Aggregate value of consideration for transactions on October
5, 2005: MYR104,040

This value represents the aggregate of actual sales proceeds
received.

(3) Effect of the transactions on Company:

NTA per share as at January 31, 2005 MYR2.2850

NTA per share after the transactions MYR2.2764

Loss per share MYR0.0014

The Company has on October 5, 2005:

(1) Disposed off 100,000 ordinary shares of MYR1.00 each in OSK.

The Board will continue to monitor market conditions on Bursa
Malaysia and will make appropriate disclosures from time to time
in compliance with Bursa Malaysia Listing Requirements.

CONTACT:

Quality Concrete Holdings Bhd   
Level 5, Wisma Mata Kuching,
Jalan Tunku Abdul Rahman,
Kuching Sarawak 93100
Malaysia
Telephone: 082-488267   
Fax: 082-484959


TAP RESOURCES: AGM Slated for October 28
----------------------------------------
Tap Resources Berhad (TAP) informed Bursa Malaysia Securities
Berhad that the Tenth Annual General Meeting of the Company will
be held at Function Rooms 2 & 3, Level 2, Hotel Sri Petaling
Kuala Lumpur, 30 Jalan Radin Anum, Bandar Baru Sri Petaling,
57000 Kuala Lumpur on Friday, October 28, 2005 at 10:00 a.m.

To view a full copy of the notice of AGM, click
http://bankrupt.com/misc/TapResourcesNoticeofAGM100505.doc

CONTACT:

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


TENAGA NASIONAL: Agreement Cut-Off Date Extended
------------------------------------------------
Tenaga Nasional Berhad issued to Bursa Malaysia Securities
Berhad the following announcements:

- Proposed acquisition of the business and assets of Northern
Utility Resources Sdn Bhd (Receivers and Managers Appointed),
NUR Generation Sdn Bhd (Receivers and Managers Appointed) and
NUR Distribution Sdn Bhd (Receivers and Managers Appointed).

- Extension of the cut-off date for the purpose of satisfying or
waiving the conditions precedent under the agreement.

The company refers to the earlier announcement made on July 5,
2005 in relation to the conditional Sale of Business Agreement
(the Agreement) entered into by TNB with Northern Utility
Resources Sdn Bhd (Receivers and Managers appointed) (NUR), NUR
Generation Sdn Bhd (Receivers and Managers appointed) (NUR
Generation) and NUR Distribution Sdn Bhd (Receivers and Managers
appointed) (NUR Distribution) for the acquisition of the
business of NUR, NUR Generation and NUR Distribution by TNB.

The proposed acquisition is conditional upon fulfillment of the
conditions precedent as stipulated in the Agreement. Pursuant to
the terms of the Agreement, the conditions precedent must be
fulfilled within 90 days from the date of the Agreement, or such
other date as may be mutually agreed between the Parties (the
Cut-Off Date).

TNB advised that all the parties to the abovesaid Agreement have
on October 3, 2005, mutually agreed to extend the Cut-Off Date
up to and inclusive of December 31, 2005 or such other further
period as the Parties may further mutually agree upon in
writing.

CONTACT:

Tenaga Nasional Berhad
129 Jalan Bangsar
59200 Kuala Lumpur, 59200
Malaysia
Telephone: +60 3 2296 5566
Fax: +60 3 2283 3686


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

EVER GOTESCO: Owner Faces Tax Evasion Raps
------------------------------------------
The Bureau of Internal Revenue on Friday filed tax evasion
charges against the owner of Ever Gotesco malls for failing to
pay over Php600 million in back taxes, The Manila Times relates.

The respondents in the tax evasion case are GMCC United
Development Corporation president Jose Go and GMCC Treasurer
Xiuxian Chun.

The tax bureau claimed GMCC failed to pay Php602,838,313.17 in
income, value-added and donor taxes in 1998-99.

The Company allegedly failed to declare earnings for a real
estate property that was used as collateral for a bank for the
loans of sister companies Ever Emporium, Ever Gotesco and Ever
Price Club.

The BIR added that GMCC also failed to declare the sale of a
condominium worth Php5.3 million in 1999.

The company is the latest casualty in the BIR's Run After Tax
Evaders (RATE) program, the government's campaign against big-
time tax cheats

CONTACT:

Ever-Gotesco Resources And Holdings, Inc.
12/F, Ever Gotesco Corporate Center
1958 C. M. Recto Ave., Manila
Phone:  735-6901; 735-0271 to 81 (TL)
Fax:  735-5905; 734-8275


NATIONAL POWER: Saves Php8-Bln from IPPs
----------------------------------------
The National Government expects to save Php8 billion this year
on lower contractual obligations of state-run National Power
Corporation (Napocor) from independent power producers (IPPs),
according to The Manila Standard.

The huge savings from IPPs will contribute positively to
Napocor's finances, as the power firm aims to "break even" this
year from a Php29.9 billion net loss last year.

The bulk of Napocor's savings this year, estimated at Php9
billion, come from lower obligations to IPPs.

"The expected improvement in our finances will result in part
from our corporate cash savings: savings on our fuel
expenditures; savings on our insurance policies; interest
earnings on our temporary investment placements; and reduced
contractual obligations to our independent power producers,
among others," Cyril del Callar, Napocor president, said.

Napocor said its financial performance will depend on a number
of factors such as the implementation of cost-cutting measures
to reduce expenses, economic dispatch of cheaper power plants
and the increase in "other income" due to gains in foreign
exchange fluctuations.

CONTACT:

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


NICPHIL INSURANCE: Former Boss Questions Conservator's Pay
----------------------------------------------------------
The ousted president of Nicphil Insurance Inc. raised his
eyebrow on the salary paid to the conservator of the ailing pre-
need firm, BusinessWorld reports.

Emmanuel Ticzon revealed Insurance Commissioner Benjamin Santos
appointed Teresita Sy-Endriga as conservator for Nicphil with a
monthly salary of Php200,000 and Php50,000 for her assistant.

Mr. Ticzon claimed the pay package, which was approved by Mr.
Santos, was way above the going rate of Php25,000 to Php50,000
monthly.

The former Nicphil president said the pay of Ms. Endriga,
allegedly a close friend of Mr. Santos, was reportedly
unjustifiable considering Nicphil's situation. He also pointed
out that Nicphil's employees do not get paid, and even agents do
not get their commissions so the firm could dole out Php250,000
monthly for its conservator.

Aside from the allegedly inflated conservator's fee, the company
also faces added burden from a Php300,000 rental for its Makati
office which houses only 20 people this time.

Nicphil was put under conservatorship in the middle of this year
after the present board of directors voluntarily asked for a
cease and desist order.

A former official of the Insurance Commission said Nicphil was
the only non-life insurer that voluntarily asked for such order.

Nicphil currently has 60 people in 10 branches nationwide. It
started as a local corporation in 1995 after it grew from being
a branch of Netherlands Insurance Co. Its premium collections in
1995 reached a peak of Php43 million.

CONTACT:

NICPHIL INSURANCE INC.
11/F Equitable Tower 2
H.V. Dela Costa St. cor. Makati Ave.
Makati City
Philippines
Phone No: 810-0271
Fax No: 818-1405; 813-3932
E-mail: administration@nicphil.com
Web site: http://www.nicphil.com


PICOP RESOURCES: Director Quits Due to Conflict of Interest
-----------------------------------------------------------
At the regular meeting of the Board of Directors of Picop
Resources, Inc. (the Company) held in the afternoon of October
6, 2005, Atty. Pantaleon G. Dumlao, Jr., on nomination of the
President, Mr. Teodoro G. Bernardino, and after review of his
qualification by the Nomination Committee, was elected as an
Independent Director of the Company, in replacement of Mr.
Cornelio P. Mapa, an Independent Director, who resigned
effective upon the election and qualification of his successor.

Mr. Mapa resigned in view of his being a Chairman of a company
whose offices and plant premises are located at the premises of
a company where the controlling interest therein is held by the
principal or dominant stockholder of the Company.

This situation, according to Mr. Mapa, can create internal
conflicts of interest, which in turn can affect his being an
independent director of the Company.

In the same meeting, Atty. Pantaleon G. Dumlao, Jr. was also
elected Chairman of the Nomination Committee and member of the
Audit Committee, both positions being then held by Mr. Mapa.
Atty. Dumlao will serve the remainder of the term of Mr. Mapa.

Atty. Pantaleon G. Dumlao, Jr., Filipino, 67 years of age, is a
retired P/Major General of the Philippine National Police, a
graduate of the Philippine Military Academy, a lawyer and a
graduate of Bachelor of Laws from the University of the East,
College of Law. He is a Law Professor at the College of Law of
New Era University and a Professor at the Philipine Public
Safety college, Fort Bonifacio, Makati City. He is a recipient
of both military and civilian awards and citations. He is a
director of Poro Point Management Corporation (BCDA) and Panay
Railways, Inc.

CONTACT:

Picop Resources
2/F, Moredel Building
2280 Pasong Tamo Extension, Makati City
Phone:  813-2081/5308/5309
Fax No/s:  893-7195
E-mail Address:  srmo@i-next.net
Web site:  http://www.srmo-law.com


REYNOLDS PHILIPPINES: Banks Sell Assets for Php365 Mln
------------------------------------------------------
A consortium of four banks declares it was disposing of assets
acquired from Reynolds Philippines Inc. at an indicative price
of Php365 million, according to The Philippine Daily Inquirer.

The consortium, which includes Metropolitan Bank and Trust Co.,
Land Bank of the Philippines, RCBC Savings Bank and AsiaTrust
Development Bank, is selling Reynolds' buildings and equipment
in Dasmarinas, south of Manila.

The group will accept offers on October 17 and 18.

Reynolds Philippines was delisted from the Philippine Stock
Exchange on July 14, 2003, before which it signed a debt
settlement agreement with its major creditors, including
Metrobank and LandBank.

The company had total unsecured debt of Php2.3 billion and
incurred a debt of Php700 million before it was delisted.

Reynolds Philippines was established in 1954 by Reynolds
International Inc. of the US to manufacture and distribute
aluminum sheets, foil and extruded sections used in the
packaging, container, construction, appliance and auto
industries


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

CITIRAYA INDUSTRIES: CEO Says Firm is Worth Saving
--------------------------------------------------
Troubled recycling firm Citiraya Industries is worth saving as a
going concern firm according to its CEO/president Michael Lim,
Channel NewsAsia reports.

Aside from the fact that two investors, namely Heshe Holdings
Limited and tycoon Oei Hong Leong have agreed to invest in the
Company, Dr. Lim says that there are other investors who also
want to inject funds into the firm, and are currently
negotiating with Hewshe Holdings and Mr. Oei on the matter.

Citirya Industries had asked the Securities Investors
Association to address the concerns of its shareholders on the
Company's uncertain future. The Company says that even if it may
be costly, it was neccesary to hire professionals to take charge
of its operations.

Dr. Lim believed that the Company is worth saving, despite
creditors' demands to wind up Citiraya. Hence, they brought in
restructuring experts and lawyers to assess the Company's
situation. And although the Company has said that it will not
seek to attract other investors, those who are interested in the
Company are welcome to discuss with its current investors to
arrange a deal.

Citiraya Industries to draw up a restructuring scheme to repay
its debts in three weeks, and has issued a notice to creditors
to submit proof of debt, so as to facilitate such repayment.

CONTACT:

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


COMET TRADING: Liquidator Sets Deadline for Claims Submission
-------------------------------------------------------------
Notice is hereby given that the creditors of Comet Trading
Enterprises Pte Limited, which is being voluntarily wound up,
are required,\ on or before Oct. 31, 2005 to send in their names
and addresses, with particulars of their debts and claims, and
the names and addresses of their solicitors (if any) to the
Company's Liquidator.

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

Dated this 30th September 2005

Chua Keng Khng
Liquidator
89 Short Street
#08-11 Golden Wall Centre
Singapore 188216


FIRSTLINK INVESTMENTS: To Hold EGM on October 22
------------------------------------------------
Notice is hereby given that an Extraordinary General Meeting
(EGM) of Firstlink Investments Corporation Limited will be held
on Oct. 22, 2005, 1:30 p.m. at Ballroom 2, Level 3, Amara Hotel
Singapore, 165 Tanjong Pagar Road , Singapore 088539.

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

http://bankrupt.com/misc/tcrap_firstlinkinvestments100705.pdf

CONTACT:

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


GOLDVEIN MANAGEMENT: Creditors Asked to Submit Debt Claims
----------------------------------------------------------
Notice is hereby given that the creditors of Goldvein Management
Services Pty Limited, which is being wound up voluntarily, are
required on or before Oct. 31, 2005 to send in their names and
addresses and the particulars of their debts or claims, and the
names and addresses of their solicitors (if any), to the
liquidator's office, c/o 47 Hill Street, #05-01 Chinese Chamber
of Commerce & Industry Building, Singapore 179365.

If so required, are to come in and prove their debts or claims
as shall be specified or in default will be excluded from the
benefits of any distribution made before such proof.

Date: 30th September 2005.

Kwa Bing Seng
Liquidator
47 Hill Street
#05-01 Chinese Chamber of Commerce & Industry Building
Singapore 179365


NEOCORP INTERNATIONAL: Seeks Judicial Management
------------------------------------------------
Neocorp International Limited announced that the Company has
filed a Petition for it to be placed under Judicial Management.

Pursuant to the Petition filed, Mr. Kon Yin Tong and Mr. Wong
Kian Kok both of Messrs Foo Kon Tan Grant Thornton have agreed
to be the Company's judicial managers, if appointed as such by
the Singapore High Court.

The Company will also be applying for Interim Judicial Managers
to be appointed, pending the hearing of the Petition.

By Order of the Board

CONTACT:

NeoCorp International Ltd
(formerly: Presscrete Holdings Ltd)
31 Changi South Avenue 2
Singapore 486478
Phone: 65 65429315
Fax:   65 65457880
Web site: http://www.neocorp.com.sg


PRIMA NOODLE: Members Convene to Discuss Wind Up
------------------------------------------------
Notice is hereby given that a Final Meeting of the Members of
Prima Noodle Restaurant Pte Limited will be held on Oct. 31,
2005, 11:00 a.m. at 138 Cecil Street, #15-00 Cecil Court,
Singapore 069538, to present the Liquidator's account showing
how the winding up was conducted and the property of the Company
disposed of, as well as to hear any explanation that may be
given by the Liquidators and to determine (by resolution) the
manner in which the books, accounts and documents of the Company
and of the Liquidators shall be disposed of.

Dated this 30th September 2005

Steven Tan Chee Chuan
Douglas Tan Kay Yeow
Joint Liquidators
C/0 138 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.


SNP CORPORATION: Sells Property to Reduce Debt, Increase Capital
----------------------------------------------------------------
On Oct. 6, 2005, SNP Corporation Limited announced that it will
be entering into a conditional put and call option agreement to
sell its entire interest in a leasehold industrial HDB property
at 97 Ubi Avenue 4 Singapore 408754 with a gross floor area of
approximately 10,469 square metres for a consideration of
S$12,170,000 to Mapletree Logistics Trust.

As at the date of this announcement, the excess of the sales
proceeds over the book value of the property is approximately
SGD0.9 million.

The proceeds of the sale would go toward reducing the Company's  
existing bank borrowings, as well as to allow SNP to increase
working capital to develop its existing businesses more
efficiently.

Both companies will also be entering into an agreement to allow
SNP to lease back the property for a term of 7 years with an
option to extend for a further term of 7 years, commencing from
the date of the transfer of ownership of the property
to Mapletree Logistics Trust. This will allow SNP to have
continuous use of the existing property without having any
disruptions to its business operations.

The propertysale, which is slated to imrpve SNP's cash flow &
gearing, is in line with its strategy to remain asset-light and
to focus on its core competencies to build new capabilities. SMP
president Yeo Chee Tong said,"This is our strategy to increase
our Economic Value Added or EVA, that is, to keep the cost of
capital employed as low as possible. We intend to do this for
the other units of businesses in SNP in the region and will
continue to look for opportunities to enhance our shareholders'
value."

SNP is a leading media company whose core businesses are in
Printing and Publishing. SNP has 8 principal subsidiaries, 3 of
which are based in Singapore, 4 in China/Hong Kong and the
remaining one in Malaysia. The Company is listed in the
Mainboard of the Singapore Exchange.

CONTACT:

SNP Corporation Limited
1 Kim Seng Promenade #18-01
Great World City East Tower
Singapore 237994
Phone: 65 6826 9600
Fax:   65 6820 3341
Web site: http://www.snpcorp.com


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T H A I L A N D
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DAIDOMON GROUP: Defends SEC Allegations
---------------------------------------
Daidomon Group Public Co. Ltd. issued to the Stock Exchange of
Thailand (SET) an explanation to the allegations made by the
Office of the Securities and Exchange Commission (the Office) to
the inquiry official in a special case against the three former
executives of Daidomon, which are (1) [Mr. Shishiro Fukuda], (2)
Mr. Pisarn Jaraslertranksri, and (3) Ms. Natchaporn or
Karnchanok Likitsirisap], in respect of the preparation of
inaccurate accounts and preparation of false documents by the
three executives, which made the shareholders and general
investors misunderstand the true financial status of the
Company.  

The Company issued the following explanations:

(1) The Company's three former executives, which were (1) [Mr.
Shishiro Fukuda], (2) Mr. Pisarn Jaraslertranksri, and (3) Ms.
Natchaporn or Karnchanok Likitsirisap] had resigned and left the
Company on March 1, 2004, July 1, 2003 and March 1, 2004
respectively.  Therefore, at present the three persons
are no longer the Company's executives.  

However, the three persons are shareholders of the Company,
according to the register of shareholders as at September 23,
2005.

(2) As to the allegations made by the Office against the three
former executives of the Company in respect to the preparation
of inaccurate accounts, preparation of false documents, and
recording inaccurate accounts in the Company's financial
statement for the year 2002 and for the first and second quarter
for the year 2003, the Company stated that because the Office's
letter No. SEC. Sor. 969/2547 dated July 14, 2004 ordered that
the Company have an auditor check the accounts as a special
case, the Company then submitted to the Office a report on the
examination of the accounts as a special case.  

After that, the Office sent a letter to the Company asking
whether or not there was a witness or documentary evidence
showing whether there had been a dishonest act to cause damage
to the Company, and asking whether or not there had been a
commission of an offence relating to documents, preparation of
accounts, misappropriation, or other offences under the
Securities and Exchange Act of B. E. 2535.

Therefore, on December 14, 2004 the Company prepared a report
letter providing information, provided evidence and made
allegations to the Office for the purpose of having legal action
taken on several issues against the Company's executives, who
were (1) [Mr. Shishiro Fukuda] and (2) Ms. Natchaporn or
Karnchanok Likitsirisap] as the persons who committed the
offence, who participated in the commission of the offence, who
were connected to the commission of the offence as principal,
supporter, helper and other persons who participated in or who
is connected to the commission of the offence, which is deemed
to have committed an offence under the Securities and Exchange
Act of B. E. 2535.  

In relation to this, the Office alleges the following against
the two former executives of the Company and against another
former executive of the Company which was [Mr. Pisarn
Jaraslertranksri].

(a) With regard to acknowledgement of income from financial
support in the amount of THB30 million in the financial
statement for the year 2002, this is not accurate given the
transaction which actually occurred and is not in accordance
with the general accounting standard, which causes the financial
statement to show the income and net profit beyond the truth.  

The three former executives who were (1) [Mr. Shishiro Fukuda],
(2) Mr. Pisarn Jaraslertranksri, and (3) Ms. Natchaporn or
Karnchanok Likitsirisap] used the information to show that the
Company acknowledged the financial support in the amount of
THB30 million as immediate income which was not true.  This was
to show the Company's auditor who examined the financial
statement for the year 2002 a better result of business
operation.

However, the Office sent a letter No. SEC. Sor. 844/2546 dated
June 5, 2003 to the Company notifying that the Company should
divide acknowledgement of income, and requesting the Company to
revise the financial statement to correct it in order for it to
be in compliance with the general accounting standard.

Nevertheless, the three former executives of the Company showed
the false information to the auditor and reported this false
information to the Company's board of directors.

However, on June 6, 2003 the Company's board of directors passed
a resolution to revise the financial statement for the year 2002
and of the first quarter of 2003 (minutes of the meeting of the
board of directors no. 8/2546) to be in compliance with the
general accounting standard pursuant to the Office's letter.  In
relation to this, the board of directors already notified the
Stock Exchange of Thailand of such resolution.
      
(b) With regard to the case of preparation of false documents
and recording in the accounts, the transaction related to the
purchase of equipment for an electrical system and smoke
extractor system which were recorded as assets even though the
transaction was a payment of expenses.  This caused the first
and second quarter of 2003 to show expenses and net loss lower
than the truth and to show the assets higher than the truth.  

The Company's former executives which were (1) [Mr. Shishiro
Fukuda] (2) Ms. Natchaporn or Karnchanok Likitsirisap] forged
documents in respect of the approval of expenses in 2003 by
jointly requesting approval and approved payment of THB23.33
million to another company for purchase of the above equipments.  

In relation to this, the Company checked and believed that there
was no purchase of such equipment.  Therefore, the Company
estimates that the damages to the Company will be in the same
amount which the two former executives of the Company requested
for approval and paid to such company in 2003.

Please be informed accordingly.

Yours sincerely,

Mr. Pudhimate Lerdwiriyasate
Executive Director

CONTACT:

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

THAI AIRWAYS: Three Moscow Flights a Week Begin in November
-----------------------------------------------------------
Thai Airways International Public Company Limited introduced in
a press release its second international direct flight for the
year 2005 on the route Bangkok - Moscow (Domodedovo) and vice
versa, operating three times per week and utilizing MD-11
aircraft, effective November 2005 onwards.

Mr. Somchainuk Engtrakul, THAI's Board Member Acting as
President, said, "During the beginning of the Winter Program
2005/ 2006, THAI will introduce direct flights routed Bangkok to
Moscow, Russia.  THAI will operate its flights to Domodedovo
International Airport in Moscow, which is the company's first
destination in Russia.

Furthermore, the launch of Bangkok - Moscow v.v. route
emphasizes the relationship between the two countries as THAI
has been working closely with Russian authorities as well as its
air carriers to increase trade and tourism links opening up the
opportunity for Thai visitors to enjoy the beauty and
magnificence of St. Petersburg and Moscow and for Russian
travelers to experience the splendor of Thailand and beyond."

Mr. Vasing Kittikul, THAI's Executive Vice President for
Commercial, said that "on the route to and from Moscow, THAI
will serve both leisure, business, and MICE (Meetings,
Incentives, Conventions, and Exhibitions) travelers, the company
anticipates that this route will primarily attract a substantial
amount of leisure travelers.  In the year 2004, there were
115,064 leisure and business travelers visiting Thailand
increasing 40% compared to the same period last year.

The Moscow flight will also appeal to traders transporting goods
and products to and from Russia.  The new generation of middle-
class Russians have increasingly higher spending power and
travel on long-haul flights for holidays spent overseas with
family and friends.

This group of Russian passengers is a target market that THAI
will serve on this route, making the new operation to and from
Moscow a forthcoming success in serving air travel needs of
Russian passengers."

To view a full copy of the flight schedule, click
http://bankrupt.com/misc/ThaiAirways100305.pdf

CONTACT:

Thai Airways International Public Co., Ltd. (TG)
89 Viphavadi-Rangsit Road
Ladyao Chatuchak
Bangkok 10900 Thailand
Telephone: 662-5451000
Fax: 662-5122173

  
TPI POLENE: Firm Says SEC Report Misleads Investors
---------------------------------------------------
TPI Polene Public Co. Ltd. (TPIPL) informed the Stock Exchange
of Thailand (SET) that the analysis report about the fair value
of the company's shares conducted by the Securities and Exchange
Commission, stating the Central Bankruptcy Court's order on
September 30, 2005 dismissing the objections of 11 creditors
participating in the Debts Repurchase Program (DRP) against the
company's motion to pay debt under the DRP process, will not
have any effect to the fair value of the company's share.

The company informed the SET that the SEC's analysis report is
misleading about the fact of the company's fair value to the
investors.

The Company clarified that according to the Court's order; the
Company's total restructured debts will be theoretically reduced
by approximately THB2,700 million and accordingly resulting in
the increase in shareholder's equity value by approximately
THB2,700 million.

Therefore, the fair value of the Company will be theoretically
increased by approximately THB2,700 million or by approximately
THB3.46 per share.
         
Best regards,
       
Mr. Prachai Leophairatana
Chief Executive Officer

CONTACT:

TPI Polene Public Company Limited   
26/56 New Jun Road,
Thungmahamek, Sathon Bangkok    
Telephone: 0-2678-5100, 0-2678-5000   
Fax: 0-2678-5001-5   
Web site: http://www.tpipolene.com
  





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

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