TCRAP_Public/051011.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

             Tuesday, October 11, 2005, Vol. 8, No. 201

                            Headlines

A U S T R A L I A

A.C.N. 069 914 094: Members Resolve to Wind Up Firm
APT-HIRE PTY: Decides to Close Operations
ARISTOCRAT LEISURE: Faces AU$54-Mln Damages Action
AUSTRAL COAL: Centennial Issues 6th Bidder's Statement
BAKKANO PTY: Members Convene to Discuss Winding Up

CENTRAL COAST: Official Liquidator Appointed
CONSETT & CO: Declares Dividend Today
DALMENY HOUSE: Robert Elliott Named Liquidator
DOUGLAS JONES: Liquidator to Explain Winding Up to Members
ENERGY RESOURCES: To Embark on Capital Restructure

FELTEX CARPETS: Completes Review on Woolen Carpet Ops
FLAT OUT: Inability to Pay Debts Prompts Wind Up
FRAGLE ROCK: Placed Under Voluntary Liquidation
GENESIS LIQUOR: Pays Dividend to Creditors
GREAT SPHINX: Creditors OK Liquidator's Appointment

HAYCAN PTY: Members Pass Winding Up Resolution
J&N HOTELIERS: Declares First, Final Dividend
KITCHEN DESIGNER: Winding Up Process Initiated
LIHIR GOLD: Calamity Disrupts Production
MADDISON CANYON: Court Issues Winding Up Order

MAYNE GROUP: Lodges Explanatory Memorandum on Demerger Proposal
MAYNE GROUP: On Watch Positive as Rating Awaits Vote
MONEY FOR LIVING: Falls Into Administrators' Hands
NATIONAL AUSTRALIA: Unit Inks Trading Services Deal with IWL
NORTHERN MORTGAGE: Schedules Final Meeting October 17

OG & VM: Appoints Official Liquidators
RICORAN INVESTMENTS: Members Opt for Voluntary Liquidation
SONS OF GWALIA: Creditor Appeals Court Decision
STREETWISE GROUP: More Firms Fall Into Liquidation
TAL SECURITY: Liquidator to Detail Wind Up Manner

VEREVIS CONSTRUCTIONS: Members Agree to Close Business


C H I N A  &  H O N G  K O N G

AIR CHINA: September Passengers Up 11% on Year
BANK OF CHINA: PO Scheduled in Hong Kong Early Next Year
BROAD LINK: Issues Debt Claim Notice
CHINA RAINBOW: Prepares to Wind Up Business
E-GO INTERIOR: Enters Bankruptcy

HIGH TECH: Court Hands Down Bankruptcy Ruling
NEW KING: Posed to Wind Up Operations
SHANGHAI LAND: To Delist Shares on October 10
SUNNICE ENGINEERING: Set to Wind Up Business
TAK WOO: Winding Up Hearing Fixed November 16

TIME DIGITAL: Court Issues Bankruptcy Order
TRIPASA INDUSTRIES: Court to Hear Winding Up Petition Nov. 23
WHOLE RISE: Creditors Meeting Set October 28


I N D I A

BHARAT HEAVY: Rating Placed on Watch with Negative Implications
DMC VAULTS: Mulls Management Change, Disposal of Losing Project


I N D O N E S I A

CIPUTRA DEVELOPMENT: Slows Expansion Due to Economic Woes
PERTAMINA: Wins Libya Oil Development Contract
PERTAMINA: Rules Out LPG Price Hike This Year
PERUSAHAAN LISTRIK: Seeks to Increase Power Rates by Up to 59%


J A P A N

OSAKA CITY DOME: Door Closes In on Stadium Operator
SANYO ELECTRIC: To Delist Stocks in Europe
SANYO ELECTRIC: VP Quits Over Policy Dispute
SEIBU RAILWAY: State Pension Files Lawsuit
TOMEN CORPORATION: Agrees to Merge With Toyota Tsusho

* 48 Textile Companies Went Bankrupt in September


K O R E A

KOREA EXPRESS: STX Eyes Majority Stake


M A L A Y S I A

ANCOM BERHAD: Buys Back New Shares
ANTAH HOLDING: Unit Fully Acquires LEKAS Share Capital
ATLAN HOLDINGS: Bourse Approves Waiver
AYER HITAM: Appeals Amended Judgment
BIMB HOLDINGS: Books MYR473,448,000 Net Loss

BUKIT KATIL: To Submit Regularization Plans in 2 Months
FABER GROUP: Bourse to List, Quote New Shares
FOUNTAIN VIEW: Unveils Directors' Dealing in Securities
HAP SENG: Purchases New Shares on Buy Back
KEMAYAN CORPORATION: Scheme Creditors OKs Proposal

KUB MALAYSIA: Unit Enters Alliance with Telekom Malaysia
MAGNUM CORPORATION: New Shares Up for Listing, Quotation
METACORP BERHAD: Wraps up Proposed Acquisition
NAM FATT: Bourse to List, Quote New Shares Today
PADIBERAS NASIONAL: Enters Sub-Lease Agreement with Johor Port

PARK MAY: Extends Time to Fulfill Conditions of DRA
POS MALAYSIA: Adds New Shares for Listing, Quotation
TANAH EMAS: New Shares Set for Listing Today
TELEKOM MALAYSIA: Bourse to List, Quote New Shares


P H I L I P P I N E S

ABS-CBN BROADCASTING: More Layoffs Seen as Cost Cuts Continue
BENPRES HOLDINGS: Director Quits to Avoid Conflict of Interest
COLLEGE ASSURANCE: Assails SEC's Partial Dropping of Complaint
NATIONAL BANK: Inks Agreement with Sun Life
NATIONAL POWER: New Power Scheme Cuts Electricity Bills

PHILIPPINE AIRLINES: NAIA 3 Not Ready for Transfer
UNIOIL RESOURCES: Sets Record Date October 18


S I N G A P O R E

DELPHA INVESTMENTS: To Distribute Dividend
EVERGREAT CONSTRUCTION: Creditor Seeks Winding Up
MEDIASTREAM LIMITED: Seeks to Acquire Firm's Shares
PROTOS STEAMSHIP: Prepares to Pay Dividend to Creditors
VIRAJAYA INTERNATIONAL: Court Orders Winding Up

WH SMITH: Creditors Asked to Submit Debt Claims


T H A I L A N D

EASTERN WIRE: Details Changes in Board Composition
PREMIER ENGINEERING: EGM Postponement Under Consideration
BOND PRICING: For the Week 10 October to 14 October 2005

     -  -  -  -  -  -  -  -

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

A.C.N. 069 914 094: Members Resolve to Wind Up Firm
---------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of A.C.N. 069 914 094 Pty Limited held on Sept. 6,
2005, it was resolved that the Company be wound up voluntarily.

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

Dated this 6th day of September 2005

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


APT-HIRE PTY: Decides to Close Operations
-----------------------------------------
Notice is hereby given that at a general meeting of APT-Hire Pty
Limited held on Sept. 1, 2005, it was resolved that the Company
be wound up voluntarily by the members, and that Richard Herbert
Judson of Members Voluntarys Pty Ltd be appointed liquidator.

Dated this 7th day of September 2005

Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189


ARISTOCRAT LEISURE: Faces AU$54-Mln Damages Action
--------------------------------------------------
Peruvian casino owner Luis Fuentealba has filed an AU$54-million
(US$41 million) damages suit against Australian poker machine
maker Aristocrat Leisure, The Age reveals.

Mr. Fuentealba is working to have his case heard in Peru's
Supreme Court and possibly the Australian courts. The case
relates to an agreement to buy 3000 Aristocrat machines that
went badly wrong.

Aristocrat said it has acted according to its contractual
obligations with the Peruvian corporation and is fighting the
action.

Mr. Fuentebealba told Sydney lawyers, accountants and company
regulators that he had been looking forward in 2001 to a "long
and mutually enriching" alliance with Aristocrat. But the deal
failed amid recriminations.

He also said he was surprised by Aristocrat's decision to use
Peruvian associates to wage what he described as a smear
campaign against his privately owned Meier Corporation and
Peru's judicial system.

"We had no idea that an Australian company would take
responsibility for condemning judges just because they gave
verdicts that the company didn't agree with," Mr. Fuentealba
said.

In the November 2001 deal, Meier signed a contract to buy 3000
refurbished poker machines plus software for new games for four
years. The purchase price for each machine was US$9260, making
it a US$28-million deal.

When the machines arrived in Peru in 40 shipping containers,
however, they allegedly weren't in working condition, many were
in parts, and the price on the invoice had been reduced to
US$225 each.

Meier bought a technical company to get the machines in working
order and from 2002 until 2004 paid US$540,000 each month to
Aristocrat. But with cash flow problems due to the delay in
getting the machines onto the gaming floor, Meier asked for a
six-month extension to complete payment.

When Aristocrat refused, Meier suspended its payments and court
proceedings followed.

CONTACT:

Aristocrat Leisure Ltd.
71 Longueville Road,
Lane Cove, Nsw,
Australia, 2066
Telephone: (02) 9413 6300
Fax: (02) 9420 1352
Web site: http://www.aristocratgaming.com


AUSTRAL COAL: Centennial Issues 6th Bidder's Statement
------------------------------------------------------
This document is a Sixth Supplementary Bidder's Statement by
Centennial Coal Company Limited  (Centennial) to its Bidder's
Statement dated March 9, 2005 (the Original Statement) in
relation to its offer (the Offer) under a takeover bid for all
of the ordinary shares in Austral Coal Limited ABN 21 069 071
816 (Austral).

Centennial has also issued supplementary bidder's statements
dated March 23, 5 and April 13, August 23, September 9, 2005.
The Original Statement and each supplementary bidder's statement
(together the Earlier Statements) were lodged with the
Australian Securities and Investments Commission (ASIC) on,
respectively, March 9 and 23, April 5 and 13, August 23 and
September 9, 2005.

This Sixth Supplementary Bidder's Statement is to be read
together with the Earlier Statements and prevails over the
Earlier Statements to the extent there is any inconsistency
between, on the one hand, this Sixth Supplementary Bidder's
Statement and, on the other, the Earlier Statements.

Unless the context requires otherwise, words and expressions
defined in the Original Statement have the same meanings in this
Sixth Supplementary Bidder's Statement.

This Sixth Supplementary Bidder's Statement was lodged with ASIC
on October 7, 2005. Neither ASIC nor any of its officers takes
any responsibility for the contents of this Sixth Supplementary
Bidder's Statement.

(1) Production Update - October 7, 2005

    Attached as Annexure A to this Sixth Supplementary Bidder's
Statement is an announcement in relation to a production update,
dated October 7, 2005.

(2) Authorization

    This Sixth Supplementary Bidder's Statement has been
approved by a resolution unanimously passed at a meeting of the
Directors of Centennial held on October 6, 2005.

CONTRACT:

Austral Coal Limited
ACN 069 071 816
Level 18, 25 Bligh Street Sydney
NSW 2000 Australia
Telephone: 61+02+8256-4700
Facsimile: 61+02+9235-0997
E-mail: info@austcoal.com.au
Web site: http://www.austcoal.com.au


BAKKANO PTY: Members Convene to Discuss Winding Up
--------------------------------------------------
Notice is hereby given that the final meeting of members of
Bakkano Pty Limited will be held at 143 Bourke Street, Goulburn,
NSW on Oct. 17, 2005, 9:00 p.m. to lay before the meeting the
liquidator's final account and report, and give an explanation
thereof.

Dated this 24th day of August 2005

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


CENTRAL COAST: Official Liquidator Appointed
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Central Coast Investments Pty Limited held on
Sept. 2, 2005, it was resolved that the Company be wound up
voluntarily, and that Raymond George Tolcher, Chartered
Accountant of Lawler Partners Chartered Accountants, 763 Hunter
Street, Newcastle West NSW 2302 be nominated to act as
Liquidator for the winding up.

Dated this 6th day of September 2005

Raymond G. Tolcher
Liquidator
Lawler Partners
Chartered Accountants
763 Hunter Street, Newcastle West NSW 2302


CONSETT & CO: Declares Dividend Today
-------------------------------------
Consett & Co Pty Limited will declare a first and final dividend
today, 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 September 2005

Damien M. Hodginskon
Liquidator
Pitcher Partners
Level 3, 60 Castlereagh Street
Sydney NSW 2000


DALMENY HOUSE: Robert Elliott Named Liquidator
----------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Dalmeny House Pty Limited duly convened and held on Sept. 7,
2005, the following Special Resolution was passed:

That the Company be wound up voluntarily, and that Robert
Elliott be appointed Liquidator for such winding up.

Robert Elliott
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000


DOUGLAS JONES: Liquidator to Explain Winding Up to Members
----------------------------------------------------------
Notice is hereby given that a general meeting of the members of
Douglas Jones & Associates will be held on Oct. 17, 2005, 11:00
a.m. at the offices of Hudson & Sibbick Pty Ltd, Suite 1, Level
10, 1-5 Railway Street, Chatswood, New South Wales 2067, to
present the Liquidator's account showing the manner in which the
winding up was conducted and the property of the Company
disposed of, and to hear any explanations that may be given by
the liquidator.

Dated this 2nd day of September 2005

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


ENERGY RESOURCES: To Embark on Capital Restructure
--------------------------------------------------
Energy Resources of Australia Limited (ERA) has announced a
capital restructure that will see its entire capital listed on
the Australian Stock Exchange (ASX) and three shareholders sell
their stakes.

ERA disclosed that the holders of all unlisted B and C class
shares have agreed to convert their shares to A class shares.
ERA's Class A shares are listed on the ASX.

The holders of the B and C class shares are: Canada's Cameco
Corporation, which holds a 6.69 percent stake in ERA; France's
COGEMA with 7.76 percent and the Japan Australia Uranium
Resource Development Company Ltd (JAURD) with 10.64 percent.

Cameco, COGEMA and JAURD has informed ERA that they currently
intend to sell their A class shares once they are quoted on the
ASX.

The sale is to be undertaken through a single offer to
professional investors to be made by the end of November this
year.

If quotation is approved, the number of ERA's shares quoted on
the ASX will increase to 190.74 million, or all its issued
capital.

Rio Tinto owns 68.39 per cent of ERA. Public shareholders hold a
6.51 per cent stake.

Both shareholdings in ERA are made up of class A shares.

In accordance with ERA's constitution, each B and C class share
will convert to one A class share.

On the conversion of the B and C class shares to A class shares,
the directors appointed by the B and C class shareholders will
automatically cease to be directors of ERA under ERA's
constitution.

ERA and Rio Tinto will terminate the shareholders' agreement for
B and C class shareholders with immediate effect.

However, Rio Tinto has agreed grant certain rights to JAURD
following the termination of the shareholders' agreement. Rio
Tinto will support one JAURD nominee on the ERA board and the
continuation of ERA's current dividend policy while Rio Tinto
hold more than 50 percent in ERA and JAURD holds at least 7.5
percent.

While JAURD holds at least 10 percent in ERA, ERA will offer any
additional securities to JAURD on the same terms as other
investors, so that JAURD's shareholding does not fall below 10
percent.

CONTACT:

C/-Mallesons Stephen Jaques,
St George Centre, 60 Marcus Clarke Street,
CANBERRA, AUSTRALIAN CAPITAL TERRITORY,
AUSTRALIA, 2601  
Telephone: (08) 8924 3500  
Fax: (08) 8924 3506
Web site: http://www.energyres.com.au/


FELTEX CARPETS: Completes Review on Woolen Carpet Ops
-----------------------------------------------------
Feltex Carpets has completed the next stage of its operational
review, which focused on its woolen carpet operations.

A number of decisions have been made which together will
significantly change the medium term outlook for the Company's
woolen carpet operations and generate substantial ongoing cost
savings.

Background to Woollen Operations

The Feltex of today is the result of mergers and acquisitions of
many different companies over 50 years. This has resulted in
Feltex having multiple woolen yarn and carpet manufacturing
sites.

Currently wool is scoured at the Kakariki plant (close to
Marton). Scoured wool is then supplied to spinning plants in
Lower Hutt, Feilding, Dannevirke, and Christchurch in New
Zealand, and Braybrook in Melbourne.

Christchurch has historically spun yarn for woven carpet
manufacture which occurs on site. The other plants spin yarn for
tufted carpet manufacturing which occurs at Foxton and at
Braybrook.

Feltex sells woollen carpets primarily in New Zealand and
Australia. It also exports carpet to the US, Europe and Asia and
woolen yarn to the US.

Competitiveness in the Woolen Carpet Market

The operational review has concluded that Feltex remains a
competitive manufacturer of woolen carpets. In particular, the
proximity to New Zealand grown carpet wools provides an
international comparative advantage in producing woolen carpet
in New Zealand. The review endorses the position that woolen
product should remain a core part of Feltex's operations.

Woolen Yarn Operations

The operational review identified several areas where Feltex's
woolen carpet operations could be significantly improved.

In 2001/2002, following the merger of Feltex's and Shaw
Australia's carpet businesses, yarn manufacturing equipment was
moved from Australia to the Lower Hutt and Dannevirke spinning
plants to take advantage of economies of production available in
New Zealand. Some yarn production remained at Braybrook to
manufacture certain yarn types not suited to the New Zealand
plants at that time. Technological research undertaken during
the review has shown that with minor de-bottlenecking of the New
Zealand plants and some yarn restructuring, these yarns can now
be produced in New Zealand.

The review also confirmed the cost competitiveness of
manufacturing woolen yarns in New Zealand, and the efficiencies
and cost advantages that could be gained by lifting the New
Zealand yarn plants to higher rates of production and
productivity.

Accordingly the Board has made the decision to consolidate all
woolen yarn manufacturing in New Zealand, and this will lead to
the closure of the Braybrook yarn plant at the end of October.

After the closure of the Braybrook yarn plant, Feltex will be
able to manufacture all its woolen yarn requirements with its
current operating capacity in New Zealand. Additional capacity
is available in the New Zealand plants when market demand
increases which would require a further increase in employment
in New Zealand. The decision will not adversely impact sales,
market share or customer service but will reduce costs and
improve efficiency.

Woolen Carpet Manufacture

The Board has concluded that Feltex should continue to
manufacture tufted carpet at the Foxton site, and at its tufting
plant at Braybrook which also tufts synthetic carpet. The
servicing requirements of Australian customers contributed to
the decision to continue to tuft woolen carpet at Braybrook.

Overall the woven carpet market is subject to strong
international competition from Asia. The Board has determined
that Feltex should continue to service certain niche sectors of
the woven carpet market where Feltex remains competitive.
Operations at the Christchurch woven plant will be aligned to
service this smaller market sector.

Redundancies

With the closure of the Braybrook yarn plant, the Company is
proceeding with the consultation process which will result in
redundancies of approximately 185 employees.

At its New Zealand woven carpet operation in Christchurch, the
reduction in operating capacity will result in about 30
redundancies.

In Melbourne, as a result of a further evaluation of the
overhead structure of the business, an additional 20 positions
are likely to be made redundant.

These redundancies are in addition to the previously announced
46 management redundancies.

Impact on staff

The Board is conscious that the impact of its decisions will be
felt by families, friends and fellow workers of affected staff.
Many of those directly affected are long-serving loyal and
skilled employees.

Outplacement support will be provided to employees affected and
full entitlements will be paid.

As a result of the closure of the Braybrook yarn plant,
production facilities in New Zealand will revert earlier than
originally planned to normal operating hours following a period
of reduced operating hours.

Financial Impact

The annual saving from these changes is approximately NZ$11
million before tax. This is in addition to previously announced
annualized saving of NZ$4 million for the prior restructuring.
The one-off cost associated with these changes is approximately
NZ$11.5 million. This cost is in addition to the one-off cost of
NZ$3.4 million for the management redundancies that were
announced in July.

The plant rationalization will lead to Feltex having surplus
real estate in Melbourne which will be sold as soon as possible.
The value of this disposal has not yet been assessed.

Continuation of the Operational Review

The operational review of other business activities is
continuing, and announcements will be made as soon as decisions
are finalized. Further major announcements are not anticipated
in the woolen yarn and carpet operations; however, the Company
is continuing to investigate opportunities to enhance its direct
wool procurement initiative, and to improve its wool scouring
capabilities.

All the rationalizations announced today are Feltex initiatives.
The Board reiterates its commitment to ensuring that all
necessary decisions will be made to ensure the Company's future
performance is maximized for Feltex shareholders.

The restructuring of the Company's woolen yarn operations
announced today will significantly reduce annual operating costs
and lead to improved profitability in the medium term. The
restructuring is one of the steps the Board is taking to place
Feltex in a more sustainable position to withstand changes in
business cycles and to re-balance Feltex to take account of the
new realities in the structure of the Australasian carpet
market.

CONTACT:

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


FLAT OUT: Inability to Pay Debts Prompts Wind Up
------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Flat Out Events Pty Limited held on Sept. 7, 2005, the
following Special Resolution was duly passed:

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

Stephen Jay of Nicholls & Co. Chartered Accountants, Suite 2,
1st Floor, 43 Macquarie Street, Dubbo, NSW was appointed
Liquidator for such purpose.

Dated this 7th day of September 2005

Stephen Jay
Liquidator
Nicholls & Co.
Suite 2, 1st Floor
43 Macquarie Street
Dubbo NSW 2830


FRAGLE ROCK: Placed Under Voluntary Liquidation
-----------------------------------------------
On Sept. 2, 2005, the members of Fragle Rock Investments Pty
Limited passed a special resolution to voluntarily wind up the
Company, and to appoint Mark Pearce as Liquidator for the
winding up.

Dated this 9th day of September 2005

Mark Pearce
Liquidator
c/o Pearce & Heers Insolvency Accountants
Level 8, 410 Queen Street
Brisbane Qld 4000


GENESIS LIQUOR: Pays Dividend to Creditors
------------------------------------------
Genesis Liquor Distributors Pty Limited will declare a first and
final dividend to priority creditors today, 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 5th day of September 2005

David J. Kerr
Liquidator
RSM Bird Cameron Partners
Level 12, 60 Castlereagh Street
Sydney NSW 2000
Phone: 02 9233 8933
Fax:   02 9233 8521


GREAT SPHINX: Creditors OK Liquidator's Appointment
---------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Great Sphinx Security Pty Limited held on Sept. 5, 2005, members
passed a special resolution to voluntarily wind up the Company,
and P. Ngan and G. Parker were appointed Joint and Several
Liquidators of the Company.

Creditors confirmed the Liquidators' appointment at a creditors'
meeting held that same day.

Dated this 12th day of September 2005

P. Ngan
G. Parker
Joint Liquidators
Ngan & Co.
Chartered Accountants
Level 5, 49 Market Street
Sydney NSW 2000


HAYCAN PTY: Members Pass Winding Up Resolution
----------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Haycan Pty Limited duly convened and held on Sept. 6, 2005,
members passed a Special Resolution that the Company be wound up
voluntarily, and appointed Gerard John Mier to be the Company
liquidator.

Dated this 6th day of September 2005

Gerard J. Mier
Liquidator
c/o KPMG
Level 13, Cairns Corporate Tower
15 Lake Street, Cairns Qld 4870


J&N HOTELIERS: Declares First, Final Dividend
---------------------------------------------
J&N Hoteliers Pty Limited will declare a first and final
dividend today, 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 5th day of September 2005

P. R. Vince
Liquidator
Ferrier Hodgson
Level 29, 600 Bourke Street
Melbourne Vic 3000


KITCHEN DESIGNER: Winding Up Process Initiated
----------------------------------------------
Notice is hereby given that at a general meeting of the members
of Kitchen Designer Services Pty Limited held on Sept. 1, 2005,
it was resolved that the Company be wound up voluntarily by the
members, and that Richard Herbert Judson of Members Voluntarys
Pty Limited be appointed Liquidator for the winding up.

Dated this 7th day of September 2005

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


LIHIR GOLD: Calamity Disrupts Production
----------------------------------------
A natural calamity has interrupted production at Lihir Gold's
facility in Papua New Guinea, according to the Sydney Morning
Herald.

A landslide had occurred on Sunday morning on the coast road of
Lihir Island between the mine and the township.

Mining operations are continuing, although the landslide has cut
off the water supply to the plant, interrupting production.

The company is still uncertain how long production would be
disrupted and will provide further details when they are
available.

Two people remain unaccounted for following the landslide.

CONTACT:

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

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


MADDISON CANYON: Court Issues Winding Up Order
----------------------------------------------
On Sept. 12, 2005, the Supreme Court of New South Wales ordered
the winding up of Maddison Canyon Pty Limited, and appointed G.
J. Parker to be Liquidator for such purpose.

G. J. Parker
Liquidator
Parker Advisory
Level 5, 49 Market Street
Sydney NSW 2000


MAYNE GROUP: Lodges Explanatory Memorandum on Demerger Proposal
---------------------------------------------------------------
Mayne Group Limited (Mayne) on Monday lodged the Explanatory
Memorandum for its demerger proposal with the Australian Stock
Exchange (ASX).

The lodgment follows an order of the Supreme Court of Victoria
on 7 October 2005 convening a meeting of shareholders to vote on
the scheme of arrangement forming part of the demerger proposal.
The Explanatory Memorandum will be posted to shareholders later
this week.

Mayne's shareholders will be asked to vote at meetings in
Melbourne on Wednesday 16 November 2005 on resolutions to
approve the demerger of Mayne's international, injectable
generic and specialty pharmaceutical operations (Mayne Pharma)
from its family of domestic healthcare businesses.  Mayne's
directors have unanimously recommended that shareholders vote in
favor of the resolutions to implement the demerger.

If the demerger is approved, Mayne Pharma will continue to
operate with the Mayne brand.  As a consequence, it is intended
that Mayne Group Limited will change its name to Symbion Health
Limited.

The proposed demerger reflects the different characteristics of
the businesses and will result in two separately listed
companies better able to focus on their core competencies.

(1) Mayne Pharma Limited: an international pharmaceutical
company focused on the research and development, manufacture,
marketing and distribution of injectable generic and specialty
pharmaceuticals with more than 70% of its sales revenue now
generated in Europe, the Middle East and Africa and North
America.  As a separately listed company, Mayne Pharma will be
well positioned to participate in the ongoing consolidation in
the international generic and specialty pharmaceuticals
industry.  Its shares are expected to be a more attractive form
of acquisition currency and Mayne Pharma should have greater
flexibility to access equity capital markets.

(2) Symbion Health Limited: a large Australian healthcare-
focused company with leading market positions in pathology
(including medical centres), diagnostic imaging, pharmacy and
health-related consumer products.  With positive demographic
trends, such as the ageing population, and approximately 85% of
Symbion Health's revenue being supported in varying degrees by
the Federal Government, the group has maintained strong cash
flows and steady earnings growth in the last two years.  
Following the demerger, Symbion Health is expected to focus on
driving earnings margin improvements across its portfolio,
continue to closely monitor capital employed, and pursue growth
opportunities consistent with its core activities.  The demerger
is also expected to enable Symbion Health to achieve an improved
credit rating and a lower cost of borrowing over time.

Mayne's Group Managing Director and Chief Executive Officer, Mr
Stuart James said the demerger was the best strategy for
delivering value to Mayne's shareholders.

"Mayne's directors are confident that the demerger is in the
best interests of our shareholders and all directors intend to
vote in favour of the demerger," he said.

"Grant Samuel, the independent expert appointed to review the
proposal, has concluded that shareholders are likely to be
materially better off if the demerger proceeds than if it does
not.

"The demerger will give investors the choice to invest in either
or both companies based on their investment objectives.  Mayne
Pharma is expected to maintain its growth focus whilst Symbion
Health is expected to pay a higher proportion of profits as
dividends.

"We believe this is an appropriate time for the demerger. Over
the last three years, we have worked hard to focus Mayne on the
segments in health that offer attractive returns to
shareholders.  We have divested non-core assets and returned
capital to shareholders and we have also invested capital across
our portfolio of Australian businesses so that each of them
holds leading market positions.

"We are now in a position where Mayne Pharma has grown to be a
large enough business, in its own right, to stand on its own.
Demerging Mayne Pharma will enable both companies to focus on
their own core activities and pursue their distinctive
strategies.

"The demerger is the continuation of the process we have
undertaken to improve shareholder returns."

The Demerger Process

The demerger will be implemented by way of a reduction of
capital and a scheme of arrangement.  If the reduction of
capital and the scheme are approved by the requisite majorities
of shareholders and the scheme is approved by the Supreme Court
of Victoria, eligible Mayne shareholders will receive one Mayne
Pharma share for each Mayne share they hold.

There will be no new capital raising as part of the demerger.

Shareholders will vote on the resolutions to approve the
demerger proposal and related matters at the meetings on
Wednesday 16 November 2005, commencing at 10.00 am (AEST) at the
ANZ Pavilion, The Arts Centre, 100 St Kilda Road, Melbourne,
Victoria.

If the demerger is approved by shareholders, Mayne intends to
seek the approval of the demerger by the Supreme Court of
Victoria on Friday 18 November with the demerger expected to be
completed on Wednesday 30 November.

The last day Mayne shares will trade on the ASX on a cum-
entitlement basis will be Friday 18 November 2005. Mayne Pharma
shares are expected to commence trading on the ASX (under the
symbol MYP) on a deferred settlement basis on Monday 21
November.  On the same date, Mayne shares will begin trading as
Symbion Health shares on the ASX (under the symbol SYB) ex-
entitlement to Mayne Pharma shares.  Mayne Pharma shares are
expected to begin normal trading on Friday 2 December.  

It is expected that there will be no Australian income tax or
capital gains tax implications for shareholders associated with
the implementation of the demerger, except for an adjustment to
the capital gains tax cost base of their existing Mayne shares
and the establishment of a new capital gains tax cost base for
the Symbion Health and Mayne Pharma shares held after the
demerger.  In respect of the demerger, the Australian Tax Office
has published Class Ruling CR 2005/83 which will soon be
available from their website (http://www.ato.gov.au).

Mayne recommends that all shareholders obtain specialist tax
advice as to the tax consequences of the demerger proposal.

About Mayne Group Limited

Mayne Group Limited is a leading Australian-based healthcare
company with revenues in excess of $A3.8 billion in its 2005
financial year.  Mayne is comprised of several leading
healthcare businesses that are well positioned to grow in future
years.  

In Australia, Mayne Diagnostic Services operates the second
largest pathology network and the third largest diagnostic
imaging network in Australia.  Mayne Pharmacy distributes
pharmaceutical and over the counter products to retail
pharmacies across Australia and provides a range of professional
and retail services that assist pharmacists in better managing
their businesses.  Its leading pharmacy retail banners include
Terry White Chemists and Chemmart.  Mayne Consumer Products is
Australia's leading provider of vitamin and mineral supplements
across the grocery and pharmacy retail channels with the
following brands: Nature's OwnT, Cenovis, Natural NutritionT,
BioOrganicsT, and Golden Glow.

Mayne Pharma has grown to be a market leader for generic,
injectable oncology drugs in Western Europe, Canada and
Australia and has established businesses in the United States,
the Middle East and Africa, and Asia.  Mayne Pharma's products
are marketed in more than 65 countries across five continents.
This broad geographic sales, marketing and regulatory platform
in generic, injectable medicines is a valuable asset and Mayne
Pharma's emphasis on the cytotoxic oncology (anti-cancer) market
segment benefits from higher barriers to entry and lower
competition than in generic, oral pharmaceuticals.   

CONTACT:     

Larry Hamson
General Manager Corporate Relations
Phone: +61 3 9868 0380
Mobile: +61 407 335 907   

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


MAYNE GROUP: On Watch Positive as Rating Awaits Vote
----------------------------------------------------
Standard & Poor's Ratings Services on Monday placed its 'BB'
corporate credit rating and debt issue ratings on Mayne Group
Ltd. on CreditWatch with positive implications. The action
follows the lodgment of the company's scheme booklet for
consideration by shareholders.
     
A positive shareholder vote and approval by the Supreme Court of
Victoria will be required to implement the demerger of the
company's global pharmaceutical business and its domestic
healthcare businesses. The shareholder vote is scheduled for
Nov. 16, 2005 and the court hearing on Nov. 18, 2005 (which
would be the effective demerger date).
     
"Standard & Poor's has reviewed the structure of the domestic
healthcare business and should the demerger proceed based on
certain assumptions, the credit rating on the Australian
healthcare business will be 'BBB-', and the outlook will be
negative reflecting the challenges of improving profitability
and reducing debt," said credit analyst Peter Stephens,
Corporate & Infrastructure Finance Ratings group.
     
At the time of the demerger, the domestic healthcare business
will change its name to Symbion Health Ltd. The global
pharmaceutical business will not be rated.
     
The demerged healthcare business, Symbion Health, will have
sound market positions in Australia, particularly in pathology
and diagnostic imagining and although the demerger reduces some
business diversity, the spin-off of the pharmaceuticals business
will increase the proportion of stable cash flows, underpinned
by government policies for healthcare funding. However, while
the company has leading market positions in these business
segments, it generates weaker operating margins and
profitability compared with its peers, and faces challenges in
improving these measures. Also, the pharmacy distribution market
remains highly competitive. In addition, there is uncertainty
surrounding the likely behavior of large supermarkets, and over
the outcome of negotiations between the Pharmacy Guild and the
federal government.
     
"The challenge for management after the demerger will relate to
improving profitability from the four business platforms and
reducing the debt burden. Key credit protection measures are
expected to remain appropriated for the rating category,
specifically FFO to debt greater than 20% and net debt to net
capital below 50%," said Mr. Stephens.
     
The demerger will require the company to reorganize many of its
debt arrangements. For instance, the company's existing A$500
million syndicated bank facility is being amended and restated
to A$650 million maturing Nov. 18. 2010. The existing bank
facility and cash is available to repurchase the company's
US$200 million 144A senior notes before the effective date of
the demerger. The outstanding US$291 million Yankee bonds due in
Feb. 1, 2006 are unaffected by the demerger and will be
refinanced at maturity with a combination of cash flow, cash,
and the restated A$650 million bank facility.


MONEY FOR LIVING: Falls Into Administrators' Hands
--------------------------------------------------
Restructure and turnaround specialists Ferrier Hodgson on
September 26, 2005 announced that Partners George Georges and
Peter McCluskey have been appointed as Voluntary Administrators
to Money For Living (Aust) Pty Ltd and MFL Property Holdings Pty
Ltd who together operate the business Money For Living.

Money For Living, which was established in early 2004, operates
a scheme to enable retirees to access the equity in their homes.
The scheme involves people selling their property to the company
in exchange for a lump sum payment, monthly installments or a
combination of both. They also receive a `lifetime tenancy',
which includes home insurance coverage and property maintenance
costs.

Money For Living has on-sold a significant number of these
properties to third party investors who meet the obligations to
the former homeowners.

Mr. Georges said that the Administrators were working hard to
ascertain as quickly as possible the effects of administration
on the scheme participants.

"We are certainly mindful of the anxiety that will be
experienced by many of the people who have been caught up in
this situation," Mr. Georges said.

"People should be assured that tenancy and property insurance
arrangements will remain in place while we conduct our
inquiries. However, due to the company's financial
circumstances, it is unable to undertake monthly payments and
maintenance activities at this stage.

"Our priority is to get a detailed picture of the business and
then to provide some clarity to those people who have entered
into agreements with the company. To this end we have appointed
lawyers Arnold Bloch Leibler to conduct a legal assessment of
all contracts."

Since the business' inception, approximately 120 properties have
been purchased by Money For Living across Victoria, with around
80 of those having been on-sold to third party investors who are
now responsible for meeting obligations to the former owners.
Around 40 properties are currently held by Money For Living.

Mr. Georges understands that Consumer Affairs Victoria and the
Australian Securities and Investment Commission (ASIC) have been
conducting their own inquiries into the business, prior to the
Administration.

CONTACT:

Gavin Anderson & Company
Phone: (03) 9654 6555

James Tonkin
Mobile: 0413 432 775

Felicity Allen
Mobile: 0413 946 701


NATIONAL AUSTRALIA: Unit Inks Trading Services Deal with IWL
------------------------------------------------------------
Australian Investment Exchange Limited (AUSIEX), a wholly owned
subsidiary of IWL Limited (IWL) announced that it has entered
into a new Online Trading Services Agreement with National
Online Trading Limited (NOLT), a subsidiary of the National
Australia Bank (NAB).

Under the terms of the agreement, NOLT will continue to
outsource broking services to IWL for a period of five years
from December 2005. A focal point of this new agreement will
involve a major upgrade to the NOLT trading platform to deliver
best practice features to NOLT customers. NOLT customers will
also have access to IWL's InvestorWeb equities and managed funds
research. In addition, NOLT will now operate under the
Australian Investment Exchange ASX License (for its retail
transactions).

Otto Buttula, Chief Executive Officer of IWL, said, "We are
delighted to be able to continue and extend our valuable
partnership with National Online Trading. The new contract will
result in considerable ongoing investment and dedication to
IWL's broking systems and services over the period of the
contract and we look forward to being able to deliver a best
practice online trading solution to all National Online
customers. Importantly, this agreement ensures IWL Broking
Solutions is well placed to realize its objective of being the
leading provider of equities platforms and services to the
Australian wealth management industry."

Paul Maddock, General Manager of National Online Trading, said
"National Online Trading looks forward to the further
enhancement of its current service offering to customers and to
grow our market position in bank-based online stockbroking in
Australia. New features to be released early in the
implementation of this new agreement will include an upgraded
research service, conditional trading and SMS alerts and we look
forward to delivering these enhanced services to our customers."

CONTACT:

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

IWL Limited
Level 22, 360 Collins St.
Melbourne, Vic 3000
Australia
Phone: +61 3 9691 1600
Fax: +61 3 9691 1601
Web site: http://iwl.com.au


NORTHERN MORTGAGE: Schedules Final Meeting October 17
-----------------------------------------------------
Notice is given that a Final Meeting of members of Northern
Mortgage Services Pty Limited will be held on Oct. 17, 2005,
2005, 2:30 p.m. at 5 Denison Street, Hamilton NSW 2303 to
present the Liquidator's final account, and to give any
explanation thereof.

Dated this 25th day of August 2005

Ross Magin
Liquidator
5 Denison Street
Hamilton NSW 2303


OG & VM: Appoints Official Liquidators
--------------------------------------
Notice is hereby given that at a general meeting of members of
OG & VM Le Maistre & Co. Pty Limited held on Sept. 2, 2005, it
was resolved that the Company be wound up voluntarily, and that
Russell Graeme Peake and Geoffrey Charles Ridgeway, Chartered
Accountants and Registered Liquidators of Jenkins Peake & Co.,
1st Floor, Lexen Building, 200 Malop Street, Geelong, 3220, be
appointed Joint and Several Liquidators for such purpose.

Dated this 5th day of September 2005

Russell G. Peake
Geoffrey C. Ridgeway
Liquidator
Jenkins Peake & Co.
Chartered Accountants
PO Box 1570, Geelong 3220
Phone: 03 5223 1000
Fax:   03 5221 4938


RICORAN INVESTMENTS: Members Opt for Voluntary Liquidation
----------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Ricoran Investments Pty Limited held on Sept. 5, 2005, it was
resolved that the Company be wound up voluntarily and that
Anthony Wayne Elkerton, Chartered Accountant of Pitcher
Partners, Level 3, 60 Castlereagh Street, Sydney NSW 2000 be
nominated to act as Liquidator for the winding up.

Dated this 5th day of September 2005

Anthony W. Elkerton
Liquidator
c/o Pitcher Partners
Level 3, 60 Castlereagh Street
Sydney NSW 2000


SONS OF GWALIA: Creditor Appeals Court Decision
------------------------------------------------
A key Sons of Gwalia creditor has appealed against a Federal
Court ruling that would grant ordinary shareholders the same
rights to compensation as all other unsecured creditors, The Age
relates.

ING Investment Management last week lodged the appeal with the
court, claiming that Justice Arthur Emmett "erred in law" in his
original decision and should have ruled that a shareholder's
claim be postponed until all debts owed to creditors have been
satisfied.

Justice Emmet on September 15 ruled that Luka Margaretic, who
lost AU$26,000 of his retirement savings on Sons of Gwalia
shares, could be considered a creditor. Mr. Margaretic, who
purchased his shares barely two weeks before the miner's
collapse, claimed that the company has breached continuous
disclosure obligations and engaged in misleading and deceptive
conduct.

Though the ruling only applied to investors who bought their
shares on market and can prove they were misled, it has
nonetheless sparked fears that other classes of creditors could
have their returns dramatically cut and that the liquidation
process would become much longer and more expensive.

Sons of Gwalia's administrators have already received AU$40
million worth of claims from more than 1000 shareholders, who
will fight for the AU$400 million allocated to satisfy around
AU$900 million of total creditor claims.

IMF Australia, which funded Mr. Margaretic's case, is itself
acting on behalf of 600 shareholders claiming AU$15 million

The appeal papers will be set before the court registrar on
October 19.

CONTACT:

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


STREETWISE GROUP: More Firms Fall Into Liquidation
--------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
obtained orders from the Supreme Court of New South Wales
appointing a provisional liquidator to a further six companies
in the Streetwise group.

Under the orders, Justice Barrett appointed Mr. Geoffrey
McDonald, of Hall Chadwick, the provisional liquidator of
Colosseum Nominees Pty Ltd, Colosseum Motor Holdings Pty Ltd,
Streetwise Property Investments and Developments Pty Ltd, Kelege
Pty Ltd, Colosseum Investments Pty Ltd and Equity Residential
Pty Limited (the Group).

The Court heard submissions from ASIC that the appointment of a
provisional liquidator was necessary to further protect the
interests of creditors in any assets held by the Group. As
provisional liquidator, Mr. McDonald has been appointed to
preserve the assets of the companies and assess the financial
and trading position of each of the companies.

Mr. McDonald is to provide a report to the Court and to ASIC
outlining the position of each of the companies in the
Streetwise group by 26 October 2005. The matter will return to
Court on 31 October 2005.

These orders follow earlier orders obtained by ASIC in these
proceedings preventing Mr. Bangaru, his wife Mrs. Shamendree
Bangaru and Mr. Trevor Downs, one of Mr. Bangaru's business
associates, from transferring money or property out of
Australia, and restraining Mr. Downs from leaving Australia.
ASIC was advised on 12 August 2005 that Mr. Bangaru and his wife
had left Australia. On 18 July 2005 the directors of Streetwise
appointed Mr. McDonald as Voluntary Administrator of six other
companies in the Streetwise Group. Creditors voted to put those
companies into liquidation on 12 August 2005.

ASIC is investigating the collapse of the Streetwise group of
companies and its director Mr. Kovelan Bangaru.

ASIC's investigation is ongoing.


TAL SECURITY: Liquidator to Detail Wind Up Manner
-------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of TAL Security Pty Limited will be held on Oct. 17,
2005, 11:00 a.m. at the office of Nicholls & Co. Chartered
Accountants, Suite 6, 459 Peel Street Tamworth NSW 2340 to
receive the Liquidator's account showing the manner of the
winding up and disposal of the property of the Company, and to
hear any explanation that may be given by the Liquidator.

Dated this 5th day of September 2005

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


VEREVIS CONSTRUCTIONS: Members Agree to Close Business
------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Verevis Constructions Pty Limited duly convened and held on
Sept. 6, 2005, members passed a Special Resolution to
voluntarily wind up the Company, and Gerard John Mier was
appointed Liquidator for such purpose.

Dated this 6th day of September 2005

Gerard J. Mier
Liquidator
c/o KPMG
Level 13, Cairns Corporate Tower
15 Lake Street, Cairns Qld 4870


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

AIR CHINA: September Passengers Up 11% on Year
----------------------------------------------
Air China Limited said it carried 2.51 million passengers in
September, up 11 percent from a year earlier, Infocast News
reports.

The airline said it carried total cargo of 67,002.9 tonnes last
month, up 5.5 percent.

The passenger load factor rose to 78.5 percent last month from
77.1 percent a year ago. For cargo load factor climbed to 55.4
percent from 54.6 percent.  

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
9/F, Blue Sky Mansion
28 Tianzhu Road
Zone A, Tianzhu Airport Zone
Shunyi District
Beijing, China


BANK OF CHINA: PO Scheduled in Hong Kong Early Next Year
--------------------------------------------------------
Bank of China (BOC) plans to launch its long-awaited initial
public offering in March or April of next year, Infocast News
reports.

The lender has named Goldman Sachs and UBS on August 30 to
manage its planned US$4 billion stock listing.

Bank Of China provides corporate banking, retail banking and
investment banking. Other activities include provision of
corporate deposits, corporate loans, foreign exchange business,
savings deposits, consumer credit and bank cards. It has 12,967
domestic branches and 559 overseas branches. Interest income
accounted for 92% of 2000 revenues; commission and fees, 6% and
non-interest income, 2%.

CONTACT:

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


BROAD LINK: Issues Debt Claim Notice
------------------------------------
Notice is hereby given that the creditors of Broad Link Limited,
which is being voluntarily wound up, are required on or before
November 7, 2005, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors, if any, to the undersigned, the Liquidators
of the Company at 18th Floor, Two International Finance Centre,
8 Finance Street, Central, Hong Kong.

If so required by notice in writing from the said Liquidators,
they are to come in personally or by their solicitors 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 7th day of October, 2005

STEPHEN LIU YIU KEUNG
ROBERT ARMOR MORRIS
Joint and Several Liquidators


CHINA RAINBOW: Prepares to Wind Up Business
-------------------------------------------
China Rainbow Industrial Limited whose place of business is
located at 3/F, Lee Wan Industrial Building, No. 5 Luk Hop
Street, San Po Kong, Kowloon was issued a winding up order
notice by the High Court of the Hong Kong Special Administrative
Region Court of First Instance on September 28, 2005.

Date of Presentation of Petition: July 27, 2005

Dated this 7th day of October 2005

ET O'Connell
Official Receiver


E-GO INTERIOR: Enters Bankruptcy
--------------------------------
Notice is hereby given that a bankruptcy order against Kau Pik
Ching trading as E-go Interior Design & Decoration Co. was made
on September 28, 2005.

All debts due to the estate should be paid to the receiver.

Dated this 7th day of October 2005

ET O'Connell
Official Receiver


HIGH TECH: Court Hands Down Bankruptcy Ruling
---------------------------------------------
Notice is hereby given that a bankruptcy order against Chan Siu
Wai Winnie trading as High Tech Company was made on September
28, 2005.

All debts due to the estate should be paid to the receiver.

Dated this 7th day of October 2005

ET O'Connell
Official Receiver


NEW KING: Posed to Wind Up Operations
-------------------------------------
New King Human Resources Limited whose place of business is
located at Flat B, 17/F, Cheong Hung Building, 8 Mei Fong
Street, Kwai Chung, New Territories was issued a winding up
order notice by the High Court of the Hong Kong Special
Administrative Region Court of First Instance on September 28,
2005.

Date of Presentation of Petition: July 27, 2005

Dated this 7th day of October 2005

ET O'Connell
Official Receiver


SHANGHAI LAND: To Delist Shares on October 10
---------------------------------------------
Reference is made to the announcement of Shanghai Land Holdings
Limited dated July 27, 2005 in relation to the Settlement
Proposal involving the winding-up of the Company by way of a
members' voluntary winding-up, a distribution of the Company's
assets to its Shareholders and a settlement of claims.

A circular detailing the Settlement Proposal was dispatched to
the Shareholders on August 27, 2005 with the notice to convene
an extraordinary general meeting of the Shareholders of the
Company for the purpose of considering and, if thought f it, to
pass the necessary special resolutions to approve the Settlement
Proposal and the withdrawal of the listing of the Shares of the
Company on the Stock Exchange.

At the extraordinary general meeting of the Company held on
September 20, 2005, the special resolutions to confirm and/or
ratify the terms of, and the Company's execution and entry into
the Settlement Deed and to approve the withdrawal of the listing
of the Shares of the Company from the Stock Exchange were duly
passed at the meeting on a poll.

With effect from September 20, 2005, the Company has been placed
under members' voluntary winding-up and Messrs Stephen Liu Yiu
Keung and Yeo Boon Ann have been appointed as joint and several
liquidators of the Company, among other things, to implement the
transactions contemplated under the Settlement Deed.

In accordance with the Settlement Deed, the Company returned a
major part of its assets to the Shareholders on September 30,
2005 by way of a cash distribution. A total sum of HK$1,124
million was returned to the Shareholders in the form of cash
distribution. The procedures of the transfer in favor of New
Nongkai Global Investments Limited of certain non-cash
distributable assets are expected to be completed in October
2005.

The Company is considered no longer to have a sufficient level
of operations or sufficient assets to warrant the continued
listing of its Shares under Rule 13.24 of the Listing Rules. In
addition, as the conditions for the withdrawal of listing have
been satisfied and confirmation has been obtained from the Stock
Exchange, the listing of the Shares on the Stock Exchange will
be withdrawn with effect from the close of business on Monday,
10 October 2005.

The withdrawal of listing of Shares on the Stock Exchange will
have no effect on the existing share certificates in respect of
the Shares which will continue to be good evidence of legal
title and will not involve any transfer or exchange of the
existing share certificates of the Company.

No changes will be made to the board lot size and currency of
the Shares. The Registrar of the Shares remains unchanged.

Trading in the Shares on the Stock Exchange was suspended with
effect from 9:30 a.m. on June 2, 2003 and remains to be
suspended.

This is a company press release.


SUNNICE ENGINEERING: Set to Wind Up Business
--------------------------------------------
Sunnice (Asia) Engineering Company Limited whose place of
business is located at G101, 1/F, Amoy Industrial Ctr,7 Ngau Tau
Kok Road, Kowloon Bay, Kowloon was issued a winding up order
notice by the High Court of the Hong Kong Special Administrative
Region Court of First Instance on September 28, 2005.

Date of Presentation of Petition: July 27, 2005

Dated this 7th day of October 2005

ET O'Connell
Official Receiver


TAK WOO: Winding Up Hearing Fixed November 16
---------------------------------------------
Notice is hereby given that a Petition for the Winding up of Tak
Woo Hong Kong Engineering Limited by the High Court of Hong Kong
Special Administrative Region was on September 20, 2005
presented to the said Court by Wing Hung Engineering Company
Limited whose registered office is situate at Unit 2C, King Wan
Factory Building, No. 54 Hung To Road, Kwun Tong, Kowloon, Hong
Kong.  

The said Petition is directed 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.

MESSRS. PATRICK WONG & CO.
Solicitors for the Petitioner
Room 1202, Harcourt House
No. 39 Gloucester Road
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.


TIME DIGITAL: Court Issues Bankruptcy Order
-------------------------------------------
Notice is hereby given that a bankruptcy order against Lau Ngai
Yan Perry trading as Time (Duty Fee) Digital Plaza was made on
September 28, 2005. All debts due to the estate should be paid
to the receiver.

Dated this 7th day of October 2005

ET O'Connell
Official Receiver


TRIPASA INDUSTRIES: Court to Hear Winding Up Petition Nov. 23
-------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Tripasa Industries Limited by the High Court of Hong Kong
Special Administrative Region was on the September 22, 2005
presented to the said Court by Hollywood Palace Company Limited
whose principal place of business is situated at Top Floor,
Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui East, Kowloon,
Hong Kong.  

The said Petition is to be heard before the Court at 9:30 a.m.
on November 23, 2005.

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

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.

FORD, KWAN & COMPANY
Solicitors for the Petitioner
Suites 1505-1508, Chinachem Golden Plaza
77 Mody Road, Tsimshatsui
Kowloon, Hong Kong
Phone: 2366 0688   
Fax: 2722 0736


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 22, 2005.


WHOLE RISE: Creditors Meeting Set October 28
--------------------------------------------
Notice is hereby given that pursuant to Section 241 of the
Companies Ordinance (Cap 32) that a first meeting of the
creditors of Whole Rise Limited will be held at Room 2303-7,
Dominion Centre, 43-59 Queen's Road East, Hong Kong on 28th day
of October 2005 at 11:30 a.m. for the purposes provided for in
Sections 241, 242, 243 244 and 255A of the Companies Ordinance.  

Creditors may vote either in person or by proxy.

Proxies to be used at the meetings must be duly completed and
lodged at the office of Boase Cohen & Collins, Room 2303-7,
Dominion Centre, 43-59 Queen's Road, East, Hong Kong, not later
than 24 hours before the meeting or adjourned meeting at which
they are to be used.

Dated this 5th day of October 2005

TANG LAI SHEUNG
Representing Manhood Nominees Limited
Corporate Director of Whole Rise Limited


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

BHARAT HEAVY: Rating Placed on Watch with Negative Implications
---------------------------------------------------------------
ICRA has placed the rating of LBBB (SO) assigned to the INR150
million-bond programme of Bharat Heavy Plate & Vessels on
"Rating Watch with negative implications".

The rating indicates `the moderate-credit-quality rating
assigned by ICRA. The rated instrument carries higher than
average credit risk'.

The rating has been put on "Rating Watch with Negative
implications" on account of a delay in payment of interest due
on these bonds as on September 30, 2005.

The company has proposed to clear the interest arrears, along-
with the interest on overdue interest for the delayed period, in
a few days. ICRA is watching the developments closely.

The assigned rating is supported by an unconditional and
irrevocable guarantee by the Government of India (GOI), and a
structured payment mechanism monitored by an independent
trustee.

CONTACT:

Mr. R.S. Walia, ICRA Hyderabad
Phone: 91-40-23735061 / 7251

BHARAT HEAVY PLATE & VESSELS LIMITED
BHPV POST
VISAKHAPATNAM - 530 012
Phones: + 91-891-2517381, 2517621
Fax : + 91 - 891- 2517626
Web site: http://www.bhpvl.com/


DMC VAULTS: Mulls Management Change, Disposal of Losing Project
---------------------------------------------------------------
DMC Vaults Ltd has informed BSE that the Board of Directors of
the Company at its meeting held on October 10, 2005, inter alia,
has transacted the following:

1. Appointment of Mrs. Hemlata Gupta as Additional Director of
the Company w.e.f. October 10, 2005.

2. Allotment of Forfeited shares.

3. Considered resignation of Mr. Rajiv Jain from the Board.

4. Considered disposal of loss making Kashipur Project subject
to the approval of shareholders.

5. Considered Change in management of the Company subject to the
approval of the shareholders

CONTACT:

DMC Vaults Limited
F-25, Lajpat Nagar - I
New Delhi 110024  
Delhi  
Phone: 5725507 25735437    
Fax: 5735437   


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

CIPUTRA DEVELOPMENT: Slows Expansion Due to Economic Woes
---------------------------------------------------------
Property development group PT Ciputra Development plans to slow
down on its expansion after experiencing high prices of fuel and
bank interest rates, and will focus on current projects and
review future plans, reports the Jakarta Post.

According to Company director Harun Hajadi, Ciputra will invest
a slightly lower amount for its projects next year, compared to
a IDR400 billion investment this year. The Company has yet to
complete several middle-class compounds in Greater Jakarta this
year, as well as the development of a high-class resort in East
Java.

Center of Indonesian Property Studies (CPIS) analyst Panagian
Simanungkalit said that developers must be more cautious in
reading market demand, as property purchases may be the safest
way to invest, with fluctuating exchange rates and an expected
12% interest rate until year's end. Demand for housing for the
middle to lower-class market is still high, as well.

CONTACT:

PT Ciputra Development Terbuka
Jalan Prof Dr Satrio Kav 6
Jakarta, 12940
Indonesia
Phone: +62 21 522 5858/21 522 6868
Fax:   +62 21 520 5262/21 527 4125
Email: investor@ciputra.com
Web site: http://www.ciputra.com


PERTAMINA: Wins Libya Oil Development Contract
----------------------------------------------
On Oct.2, 2005, state-owned oil and gas firm PT Pertamina was
awarded a contract for the operation fo two oil blocks located
in Tripoli, Libya, which holds Africa's largest crude-oil
reserves, Xinhua News reports.

The Company won the contract to operate the Sirt bloc, which is
estimated to hold 400 million barrels of oil reserves, and the
Sabrata offshore oil block with around 690 million barrels of
reserves.

Pertamina is scheduled to sign the contracts on Oct. 15, 2005.
The Company will control a 55% stake in both blocs, while the
remaining 45% stake will be held by the Linyan government.

This comes as good news for the Company, according to Pertamina
president Widya Purnama, as they had been lost several domestic
contracts to foreign rivals.


PERTAMINA: Rules Out LPG Price Hike This Year
---------------------------------------------
State oil firm PT Pertamina has decided that it will not raise
its liquefied petroleum gas (LPG) prices for the rest of the
year, reports Asia Pulse.

But LPG prices from retailers to consumers have soared due to
the government's fuel price hike last Oct.1, 2005. One 12-
kilogram cylinder of LPG now costs more than IDR60,000, whereas
before the price increase it was sold for less than IDR55,000
per container.

Pertamina president Widya Purnama has asked agents to sell LPG
not more than IDR55,000 per cylinder. LPG supply is slated to
return to normal soon, since the repairs of the Company's two
refineries in Balongan and Cilacap are set to finish in the nest
few months.


PERUSAHAAN LISTRIK: Seeks to Increase Power Rates by Up to 59%
--------------------------------------------------------------
State power firm PT Perusahaan Listrik Negara (PLN) said that it
will seek to raise power rates by 23% to 59% if the government
would not raise the Company's fuel subsidies, The Jakarta Post
reports.

According to PLN president Eddie Widiono, PLN will need up to
IDR38 trillion to cover costs, if it would not raise its
tariffs, due to the increase in fuel costs. The House of
Repesentatives had earlier decided that PLN must pay market
prices for its oil-based fuels starting this month.

The Company cannot raise its power rates to generate more
revenue, as the decision to do so rests with the government.

PLN had proposed a 59% price hike if the government would not
provide subsidy for its fuel costs, a 39% increase if it were to
get a IDR12.98 trillion fuel subsidy, and a 29% increase if it
were to receive a IDR21.68 trillion.

The House of Representatives will not choose any of the
scenarios proposed by the Company until it has had time to
review the proposal. PLN is expected to receive up to IDR20
trillion in fuel subsidies next year, which is the maximum that
the state can afford, according to the government.

PLN reported a IDR2.02 trillion net loss last year, but was able
to garner its first operational income of IDR2.56 trillion since
the 1997 Asian financial crisis.

CONTACT:

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


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

OSAKA CITY DOME: Door Closes In on Stadium Operator
---------------------------------------------------
Osaka City Dome Co., the operator of the Osaka Dome baseball
stadium, has filed for court protection with the Osaka District
Court on Friday, giving up its court-supervised special
arbitration proceedings it sought in November, reports the
Yomiuri Shimbun.

In response to the firm's request, the district court put Mr.
Kazuhide Urata, a lawyer belonging to the Osaka Bar Association,
in charge of protecting the firm's assets and prohibited the
firm from selling its assets.

The court will also appoint another administrator to oversee
operations. A reconstruction plan compiled by the administrator
will be submitted to the court.

CONTACT:

Osaka City Dome Co. Ltd.
2-1, 3-chome Naka, Chiyozaki,
Nishi-ku, Osaka-shi
Tsuyoshi Awai


SANYO ELECTRIC: To Delist Stocks in Europe
------------------------------------------
On September 28, 2005 the Board of Directors of Sanyo Electric
Co., Ltd. resolved to submit applications for the delisting of
the company's stocks to the Frankfurt Stock Exchange, Euronext
(Amsterdam) Stock Exchange, Euronext (Paris) Stock Exchange, and
Switzerland Stock Exchange. The relevant details are as follows:  

1.  Reason for delisting the company's stocks:

The trading volume of stocks (depositary receipts) at the
Frankfurt Stock Exchange, Euronext (Amsterdam) Stock Exchange,
Euronext (Paris) Stock Exchange, and Switzerland Stock Exchange
is extremely low. Therefore, the delisting is assumed to have
little impact and will cause relatively low inconvenience to the
company's shareholders and investors.

2.  Schedule

Applications for the delisting will be submitted to the above-
mentioned four stock exchanges in October 2005 at the earliest.
The delisting process is expected to be completed by March 2006.

Stock exchanges on which SANYO Electric Co., Ltd. will continue
to be listed:

Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock
Exchange, Fukuoka Stock Exchange, Sapporo Securities Exchange,
and U.S. Nasdaq.

This is a company press release.

CONTACT:

Sanyo Electric Co. Ltd.
Media Relations Unit
Phone: +81-3-3837-6206
Fax: +81-3-3837-6381
E-mail: tokyo-pr@svnet.sannet.ne.jp


SANYO ELECTRIC: VP Quits Over Policy Dispute
--------------------------------------------
Sanyo Electric Co. said its Chief Financial Officer Yoichiro
Furuse has stepped down from his post on Friday due to
disagreement with other executives over management policy, Japan
Today reports.

Mr. Furuse, who had proposed that Sanyo withdraw from
unprofitable businesses, apparently had conflicts with other top
officials including Chairwoman Tomoyo Nonaka, who took her post
in June, company sources said.


SEIBU RAILWAY: State Pension Files Lawsuit
------------------------------------------
The Government Pension Investment Fund has filed a lawsuit
against Seibu Railway for investment losses it suffered after
the railway was delisted over the falsification of it financial
reports, Japan Today reports.

The investment fund lodged the suit with the Tokyo District
Court, demanding a combined JPY18.55 billion in damages.

The fund listed seven trust banks, including Mitsubishi UFJ
Trust Banking Corp. and Mizuho Trust & Banking Co., which were
in charge of managing its funds, as plaintiffs.

The fund claimed it incurred losses of about JPY18.55 billion
yen as the stock price of Seibu Railway fell in 2004.

CONTACT:

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


TOMEN CORPORATION: Agrees to Merge With Toyota Tsusho
-----------------------------------------------------
Tomen Corporation and Toyota Tsusho Corporation have agreed to
merge into a single entity in April 2006, Jiji Press reports.

The two companies reached the latest agreement after Tomen made
smooth headway with its restructuring. The company, landed with
massive debts, had received financial assistance twice from
creditor banks.

Toyota Tsusho, a Toyota Motor Corp. affiliate, survives the
merger.

CONTACT:

Tomen Corporation
8-1, Marunouchi 3-chome
Chiyoda-ku, Tokyo
100-8320, Japan
Phone: 81-3-5288-2111
Fax: 81-3-5288-9100


* 48 Textile Companies Went Bankrupt in September
-------------------------------------------------
There were 48 Japanese textile firms that went bankrupt in
September 2005, reports Just-style.com.

The bankrupt companies are reported to have liabilities of more
than JPY10 million each.

A number of countries have recorded downturns in textiles trade
since global quotas expired in January, allowing big producers
such as China to strengthen their hold on the market.


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

KOREA EXPRESS: STX Eyes Majority Stake
--------------------------------------
The Korea Express Co. Ltd. is most likely to be acquired by STX
PanOcean as it emerged to be the strongest candidate by
purchasing a 21.02 percent stake in the logistics firm, relates
The Korea Times. STX holds the largest share in Korea Express.

"The logistics firm is likely to graduate from the court
receivership next year on increasing operating profit. STX
appears to have bought 2.32 million shares in Korea Express to
take the management control of the logistic firm," a market
analyst said.

STX was drawn to invest in Korea Express on improved net income
and ample cash reserves. It posted a record KRW400 billion in
net income and listed its shares on the Singapore exchange last
year.

Following STX's bid for Korea Express, other companies such as
GS Group, Kumho Asiana Group, Lotte Group and CJ Group are
trying to absorb Korea Express, an STX official said.

On top of that, the market analyst noted, "competition to take
profitable companies up for sale between bidders will get fierce
and some of the bidders may be default on their debts for their
takeover deals."

Korea Express came under court receivership for its debt
guarantee for Dong-A Group in November 2000 when the parent
company went bankrupt.

CONTACT:

The Korea Express Co. Ltd.
58-12 Seosomun-dong Chung-gu Seoul, Korea
Seoul 100-110 Korea
Phone: 02 - 3782 - 0114
Fax: 02 - 3782 - 0786
Web site: http://www.korex.co.kr


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

ANCOM BERHAD: Buys Back New Shares
----------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:
   
Date of buy back: October 6, 2005

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

Total number of shares purchased (units): 169,300

Minimum price paid for each share purchased (MYR): 0.645

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

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 169,300

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

Cumulative net outstanding treasury shares as at to-date
(units): 14,637,000

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

CONTACT:

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

ANTAH HOLDING: Unit Fully Acquires LEKAS Share Capital
------------------------------------------------------
Antah Holdings Berhad (Antah) issued to Bursa Malaysia
Securities Berhad details of the acquisition of a shelf company
by Kaseh Lebuhraya Sdn. Berhad. (Kaseh), a wholly owned
subsidiary of Antah.

(1) Introduction

Further to the announcement on October 3, 2005, Antah advised
the bourse that Kaseh has acquired the entire issued and paid-up
share capital of Lebuhraya Kajang-Seremban Sdn Bhd (LEKAS).

Consequent thereto, Lekas becomes a subsidiary of KASEH and a
sub-subsidiary of Antah.

(2) Information on Lekas

LEKAS was incorporated in Malaysia under the Companies Act, 1965
on June 22, 2005.

The present authorized share capital of Lekas is MYR100,000
divided into 100,000 ordinary shares of MYR1.00 each and the
paid-up share capital is MYR2 divided into 2 ordinary shares of
MYR1.00 each.

(3) Rationale for the Acquisition of Shares

Lekas has been dormant since its incorporation and is intended
to be the special purpose vehicle to carry out and undertake the
Concession to be novated by KASEH, subject to the approval of
shareholders of Antah at a general meeting to be convened, and
the Government.

(4) Financial Effects

The acquisition of Lekas will not have immediate material effect
on the earning and net tangible assets of the Group.

(5) Directors' and/or Major Shareholders' and/or Persons
Connected with a Director or Major Shareholder's Interests

None of the Directors or major shareholders of the Company or
persons connected to them has any interest, direct or indirect,
in the acquisition of shares.

(6) Approvals Required

The acquisition of LEKAS is not subject to the approval of
shareholders or other relevant authorities.

This announcement is dated 7 October 2005.

CONTACT:

Antah Holding Berhad
9577 Jalan SS16/1 Subang Jaya
47500 Petaling Jaya Selangor
Telephone: 03-5632 8668
Fax: 03-5635 1234


ATLAN HOLDINGS: Bourse Approves Waiver
--------------------------------------
Atlan Holdings Bhd (AHB) issued to Bursa Malaysia Securities
Berhad details of the proposed acquisition by AHB of Ordinary
Shares and Redeemable Convertible Preference Shares in Atlan
Properties Sdn Bhd (Proposed Acquisition).

Avenue Securities Sdn Bhd, on behalf of the Company, advised
that Bursa Malaysia Securities Berhad (Bursa Securities) had
vide its letter dated October 6, 2005 (which was received on  
October 7, 2005), approved the waiver sought by AHB from deeming
the Proposed Acquisition as a related party transaction under
Chapter 10 of the Listing Requirements of Bursa Securities.

This announcement is dated 7 October 2005.

CONTACT:

Atlan Holdings Berhad   
Level 4, Wisma Atlan,
8 Persiaran Kampung Jawa,
Bayan Lepas Penang 11900
Malaysia
Telephone: 04-6461328   
Fax: 04-6461358


AYER HITAM: Appeals Amended Judgment
------------------------------------
Ayer Hitam Tin Dredging Malaysia Berhad (Ahtin) issued to Bursa
Malaysia Securities Berhad details of the statutory demand
pursuant to Section 218 of the Companies Act, 1965 by KIY Design
& Interior Design (M) Sdn Berhad (KIY).

The Board of Directors of AHTIN advised that a Statutory Demand
pursuant to Section 218 of the Companies Act, 1965 dated October
7, 2005 (Demand) has been served on the Company's 100 percent
owned subsidiary, Motif Harta Sdn Bhd (MHSB) by the solicitors
for KIY.

The Demand states that MHSB is indebted to KIY in the sum of
MYR260,953.06 (Debt) consisting of the principal amount of
MYR159,215.59, interest of MYR91,952.47 and cost of MYR9,785.00
in respect of an Amended Judgment entered against MHSB on August
22, 2005 (Judgment).

The Debt is for monies alleged to be commission for the
procurement of supply of goods and services for the hotel-in-
progress. MHSB is required to pay the Debt within 21 days from
the date of service of the Demand.

The Company has appealed against the Judgment and is pending on
the hearing date.

In the meantime, the Company has instructed its solicitors to
file for a stay of execution of the Judgment.

This announcement is dated 7 October 2005.

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
8 Jalan Raja Chulan
50200 Kuala Lumpur, 50200
Malaysia
Telephone: +60 3 2031 9633
Fax: +60 3 2031 6920


BIMB HOLDINGS: Books MYR473,448,000 Net Loss
--------------------------------------------
BIMB Holdings Berhad furnished Bursa Malaysia Securities Berhad
a copy of its unaudited fourth quarter financial report for the
financial period ended June 30, 2005.

Summary of Key Financial Information
June 30, 2005
         
        Individual Period              Cumulative Period
    Current Year  Preceding Year  Current Year   Preceding Year
    Quarter       Corresponding   to Date        Corresponding
                  Quarter                        Period  
    30/06/2005    30/06/2004      30/06/2005     30/06/2004
    MYR'000       MYR'000     MYR'000        MYR'000

(1) Revenue  

    359,802       231,058         1,075,576      866,639

(2) Profit/(loss) before tax  

    -434,790      43,790          -399,898       118,476

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

    -473,448      42,717          -456,440        85,748

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

    -473,448      42,717          -456,440        85,748

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

    -84.10        7.59            -81.08          15.23

(6) Dividend per share (sen)  

    0.00           0.00            8.50            8.50

    As at end of               As at Preceding
    Current Quarter            Financial Year End 7

Net tangible assets per share (MYR)  

    1.9400                      2.8100

Click to view a full copy of the financial report
http://bankrupt.com/misc/BIMBHoldingsCondensedFSJune2005.xls

To view a full copy of the notes to FS, click
http://bankrupt.com/misc/BIMBHoldingsnotesJune2005.doc

CONTACT:

BIMB Holdings Berhad   
Tingkat 11, Bangunan Darul Takaful, Jalan Sultan Ismail, Kuala
Lumpur Wilayah Persekutuan 50250 Malaysia
Telephone: 03-4662930,03-4662931   
Fax: 03-26947392


BUKIT KATIL: To Submit Regularization Plans in 2 Months
-------------------------------------------------------
Further to the announcement dated August 15, 2005, August 18,
2005 and August 24, 2005, Bukit Katil Resources Bhd (BKatil)
advised that Bursa Malaysia Securities Bhd (Bursa Securities)
has vide its letter dated October 6, 2005 granted an extension
of time for the de-listing of the securities of the Company from
the Official List of Bursa Securities on the following
conditions:

(a) To make the Requisite Announcement (RA) within 60 days from
the date of signing of the Memorandum of Understanding (MoU)
i.e. by October 17, 2005; and

(b) To submit its regularization plans (as per the MoU) to the
relevant authorities within 2 months from the date of the RA.

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


FABER GROUP: Bourse to List, Quote New Shares
---------------------------------------------
Faber Group Berhad informed Bursa Malaysia Securities Berhad
that the Zero Coupon Irredeemable Convertible Unsecured Loan
Stocks 2000/2005 (ICULS 2000/2005) will mature at 5:00 p.m. on
Monday, October 31, 2005.

Please click to view the Notice of maturity of the ICULS
2000/2005.
http://bankrupt.com/misc/FaberGroupNoticeofmaturity100705.pdf

This announcement is dated 7 October 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: Unveils Directors' Dealing in Securities
-------------------------------------------------------
Fountain View Development Berhad issued to Bursa Malaysia
Securities Berhad a Notification pursuant to Paragraph 14.09 of
the Listing Requirements of Bursa Malaysia on Dealings during
Open Period.

The company advised that the Company has received a notification
pursuant to Paragraph 14.09 of the Listing Requirements of Bursa
Securities from Datin Yam Yuet Chew, an Executive Director of
the Company of her dealings in the securities of the Company
outside the closed period.

Details of which are set out below:

Date of                No. of        %         Price
(Disposal)             Shares                  (MYR)
or
Acquisition    

September 27, 2005    (28,000)     0.0069     0.39

September 27, 2005    (34,000)     0.0083     0.39

Her shareholding after the disposal are as follows:

(1) 17,953,900 (Direct) and 7,330,496 (Indirect) Ordinary Shares
of MYR1.00 each representing 4.40 percent and 1.80 percent
respectively.

(2) 80,800 (Indirect) units of ICULS of MYR1.00 each
representing 0.22 percent.

The Notice was received on 6th October, 2005.


HAP SENG: Purchases New Shares on Buy Back
------------------------------------------
Hap Seng Consolidated Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:
   
Date of buy back: October 6, 2005

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

Total number of shares purchased (units): 63,000

Minimum price paid for each share purchased (MYR): 2.140

Maximum price paid for each share purchased (MYR): 2.170

Total consideration paid (MYR): 136,046.53

Number of shares purchased retained in treasury (units): 63,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 33,534,000

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

CONTACT:

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


KEMAYAN CORPORATION: Scheme Creditors OKs Proposal
--------------------------------------------------
Public Merchant Bank Berhad (PMBB), on behalf of the Board of
Kemayan Corporation Berhad (KCB), disclosed to Bursa Malaysia
Securities Berhad that at the meeting of the scheme creditors of
KCB summoned pursuant to an order of the High Court of Malaya
under section 176 of the Companies Act, 1965 (Act), which was
held on October 7, 2005, the scheme creditors of KCB had
approved the proposed scheme of arrangement in relation to the
Proposed Debt Settlement.

Furthermore, PMBB also disclosed that at the meeting of the
shareholders of KCB summoned pursuant to an order of the High
Court of Malaya under section 176 of the Act, which was held on
October 7, 2005, the shareholders of KCB had approved the
proposed scheme of arrangement in relation to the Proposed Share
Exchange.

In addition, at the Extraordinary General Meeting (EGM) held on
October 7, 2005, the shareholders of KCB have duly passed all
the resolutions pertaining to the Proposed Restructuring Scheme
as set out in the Notice of EGM dated September 10, 2005.

CONTACT:

Kemayan Corp. Berhad
167, Jln Glasiar Taman Tasek
80200 Johor Bahru Johor
Telephone: 07-2362390  
Fax: 07-2365307


KUB MALAYSIA: Unit Enters Alliance with Telekom Malaysia
--------------------------------------------------------
KUB Malaysia Berhad issued to Bursa Malaysia Securities Berhad
details of the acceptance of award for the maintenance and
support services for Fetex Switching System (Contract No:
K1160860/05) (The Award).

The company informed the Bourse that that KUB-Fujitsu
Telecommunications (Malaysia) Sdn Bhd (KUB-Fujitsu), the
company's 70 percent owned joint venture subsidiary had on even
date accepted the Award from Telekom Malaysia Berhad for the
maintenance and support services for Fetex Switching System for
contract sum of MYR8,200,000.00 (Ringgit Malaysia: Eight Million
Two Hundred Thousand Only) (Contract No.: K 1160860/05) (the
Award)

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

This announcement is dated 7 October 2005.


MAGNUM CORPORATION: New Shares Up for Listing, Quotation
--------------------------------------------------------
Magnum Corporation Berhad advised that its additional 103,000
new ordinary shares of MYR0.50 each issued pursuant to the
Employees' Share Option Scheme will be granted listing and
quotation by Bursa Malaysia Securities Berhad with effect from
9:00 a.m., Tuesday, October 11, 2005.

CONTACT:

Magnum Corporation Berhad
No 8 Jalan Munshi Abdullah
50100 Kuala Lumpur, 50100
Malaysia
Telephone: +60 3 2698 8033
Fax: +60 3 2698 9885


METACORP BERHAD: Wraps up Proposed Acquisition
-----------------------------------------------
Metacorp Berhad issued to Bursa Malaysia Securities Berhad
details of the proposed acquisition of two (2) pieces of
freehold lands held under Geran No. 7725 and 7726, LOT NO. 40512
and 40513, Mukim and Daerah Kuala Lumpur, Wilayah Persekutuan
(Proposed Acquisition)

The company informed Bursa Malaysia that it has been advised by
our solicitors that the Proposed Acquisition has been completed
on October 4, 2005.

This announcement is dated 6 October 2005.

CONTACT:

Metacorp Bhd   
22 Jalan 2/6,
Dataran Templer,
Bandar Baru Selayang
Batu Caves Selangor 68000
Malaysia
Telephone: 03-61201118   
Fax: 03-61205558


NAM FATT: Bourse to List, Quote New Shares Today
------------------------------------------------
Nam Fatt Corporation Berhad advised Bursa Malaysia Securities
Berhad that its additional 490,000 new ordinary shares of
MYR1.00 each issued pursuant to the conversion of MYR490,000
Irredeemable Convertible Unsecured Loan Stocks 2003/2011 (ICULS-
A) into 490,000 new ordinary shares will be granted listing and
quotation by Bursa Malaysia Securities Berhad with effect from
9:00 a.m., Tuesday, October 11, 2005.

CONTACT:

Nam Fatt Corporation Berhad   
No. 40, Persiaran Sultan Ibrahim,
Klang Selangor 41300 Malaysia
Telephone: 03-33420767   
Fax: 03-33427830


PADIBERAS NASIONAL: Enters Sub-Lease Agreement with Johor Port
--------------------------------------------------------------
Padiberas Nasional Berhad provided Bursa Malaysia Securities
Berhad details of its sub-lease agreement between Padiberas
Nasional Berhad (Bernas) and Johor Port Berhad (Sub-Lessor) in
respect of a parcel of land together with 2 warehouses erected
thereon (the sub-lease agreement).  

The Board of Directors of Padiberas Nasional Berhad advised the
Exchange that the company had, on October 6, 2005, entered into
Sub-Lease Agreement with the Sub-Lessor.

The Sub-Lease Agreement is for Bernas to sub-lease from the Sub-
Lessor a parcel of land measuring approximately 24,510.60 square
metres together with 2 warehouses erected thereon measuring
approximately 20,104.20 square metres held under H.S (D) 346452,
PTD 163140, Mukim of Plentong, District of Johor Bahru, Johor
(Demised Premises).

The Sub-Lease Agreement is for a term of 17 years 2 months and
26 days, at a rental rate of MYR26,000,000.00 for the entire
sub-lease period. The Demised Premises shall be used by BERNAS
for its rice business or other rice related business.

None of the directors and/or major shareholders of BERNAS or
persons connected to the directors and/or major shareholders of
BERNAS have any interest, direct and/ or indirect, in the Sub-
Lease Agreement.

CONTACT:

Padiberas Nasional Berhad   
Level 19, CP Tower,
No. 11, Section 16/11,
Jalan Damansara,
Petaling Jaya Selangor
46350 Malaysia
Telephone: 03-76604545   
Fax: 03-76604646


PARK MAY: Extends Time to Fulfill Conditions of DRA
---------------------------------------------------
Park May Berhad (Park May) issued to Bursa Malaysia Securities
Berhad details of the Proposed Restructuring Scheme Comprising
of:

(a) Proposed acquisitions of six (6) subsidiaries of Kumpulan
Kenderaan Malaysia Berhad (KKMB), namely Kenderaaan Langkasuka
Sdn Bhd, Kenderaan Klang Banting Berhad, Kenderaan Labu Sendayan
Sdn Bhd, Starise Sdn Bhd, Syarikat Rembau Tampin Sdn Bhd and
Transnasional Express Sdn Bhd, by Konsortium Transnasional
Berhad (KTB), the company which will assume the listing status
of Park May pursuant to the Proposed Restructuring Scheme, for a
total purchase consideration of MYR85,055,614.50 to be satisfied
by the issuance of 170,111,229 new ordinary shares of MYR0.50
each (Shares) in KTB at an issue price of MYR0.50 per Share
(Proposed Acquisitions Of Six (6) Bus Companies);

(b) Voluntary offer by KTB to acquire all the issued and paid-up
share capital of Syarikat Kenderaan Melayu Kelantan Berhad
(SKMK), comprising 7,250,620 ordinary shares of MYR1.00 each to
be satisfied by the issuance of 72,506,200 new Shares in KTB at
an issue price of MYR0.50 per Share on the basis of ten (10) new
Shares in KTB for every one (1) existing ordinary share of
MYR1.00 each held in SKMK;

(c) Voluntary offer by KTB to acquire all the issued and paid-up
share capital of Tanjong Keramat Temerloh Utara Omnibus Berhad
(Keramat), comprising 1,054,653 ordinary shares of MYR1.00 each
to be satisfied by the issuance of 7,382,571 new Shares in KTB
at an issue price of MYR0.50 per Share on the basis of seven (7)
new Shares in KTB for every one (1) existing ordinary share of
MYR1.00 each held in Keramat;

(Items (a), (b) and (c) to be collectively referred to as
Proposed Acquisitions Of Bus Companies)

(d) Proposed exchange of all the existing ordinary shares of
MYR1.00 each in Park May with new Shares in KTB on the basis of
two (2) new Shares in KTB for every three (3) existing ordinary
shares of MYR1.00 each held in Park May prior to the Proposed
Shares Cancellation (Proposed Share Exchange);

(e) Proposed cancellation of the entire issued and paid-up share
capital of Park May involving 74,996,022 ordinary shares of
MYR1.00 each pursuant to Section 64 of the Companies Act, 1965
and the issuance of new ordinary shares of MYR1.00 each in Park
May to KTB (Proposed Shares Cancellation);

(f) Proposed debt restructuring of MYR63.0 million of the
outstanding Commercial Papers (CP) of Park May by way of
canceling MYR63.0 million of the CP outstanding and the issuance
of an equivalent nominal value of Irredeemable Convertible
Secured Loan Stocks (ICSLS) by KTB (Proposed Debt
Restructuring);

(g) Proposed waiver to KKMB and parties acting in concert with
it from the obligation to extend an unconditional mandatory
general offer for all the remaining Shares not already owned by
them in KTB after the Proposed Acquisitions Of Bus Companies and
Proposed Share Exchange;

(h) Proposed offer for sale / placement of the Shares in KTB
held by KKMB to the Malaysian public / investors to comply with
the minimum 25 percent public shareholding spread requirement;
and

(i) Proposed admission of the entire enlarged issued and paid-up
share capital of KTB to the Official List of the Bursa Malaysia
Securities Berhad and proposed delisting of Park May.

(Items (a) to (i) to be collectively referred to as Proposed
Restructuring Scheme)

The company refers to the Company's announcement dated September
7, 2005 where it was announced that Park May, KTB, Malaysian
Trustees Berhad and Affin Discount Berhad, being the sole holder
of CP (collectively referred to as Parties), had by way of a
letter mutually agreed to extend the period to fulfil the
conditions precedent of the DRA (as defined in the said
announcement) for a period of three (3) months until September
30, 2005.

In this respect, on behalf of the Company, AmMerchant Bank
Berhad (a member of AmInvestment Group) disclosed that the
Parties had on October 6, 2005 by way of a letter (Letter of
Agreement) mutually agreed to further extend the period to
fulfill the conditions precedent of the DRA for a period of
three (3) months from October 1, 2005 until December 31, 2005.

The Letter of Agreement will be made available for inspection at
the registered office of Park May at No. 38, Jalan Chow Kit,
50350 Kuala Lumpur during normal business hours from Mondays to
Fridays (except public holidays) for a period of three (3)
months from the date of this announcement.

This announcement is dated 7 October 2005.

CONTACT:

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


POS MALAYSIA: Adds New Shares for Listing, Quotation
----------------------------------------------------
POS Malaysia & Services Holdings Berhad advised that its
additional 339,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employee Share Option Scheme will be granted
listing and quotation with effect from 9:00 a.m., Tuesday,
October 11, 2005.

CONTACT:

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


TANAH EMAS: New Shares Set for Listing Today
--------------------------------------------
Tanah Emas Corporation Berhad advised that its additional 64,000
new ordinary shares of MYR1.00 each issued pursuant to the
conversion of 96,000 Irredeemable Convertible Unsecured Loan
Stocks 2001/2006 into 64,000 new ordinary shares will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Tuesday, October 11, 2005.


TELEKOM MALAYSIA: Bourse to List, Quote New Shares
--------------------------------------------------
Telekom Malaysia Berhad advised that its additional 88,000 new
ordinary shares of MYR1.00 each issued pursuant to the Employee
Share Option Scheme will be granted listing and quotation with
effect from 9:00 a.m., Tuesday, October 11, 2005.

CONTACT:

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


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

ABS-CBN BROADCASTING: More Layoffs Seen as Cost Cuts Continue
-------------------------------------------------------------
Embattled television network ABS-CBN Broadcasting Corp.
succeeded in trimming its production costs by Php50 million to
Php100 million since the beginning of the second quarter, The
Philippine Star has learned.

The cost cutting measures are part of the network's ongoing
efforts to curb the continued decline in viewer ratings and
improve its balance sheet.

ABS-CBN president and chief operating officer Luis Alejandro
said the network has managed to cut production costs in two
areas: production planning and talent fees.

In fact, Mr. Alejandro revealed the network has already let go
of some of its talents and stopped guaranteeing the artists.

Cost of producing news, on the other hand, is fairly under
control, Mr. Alejandro said.

A three-point recovery program will see ABS-CBN retire 360
employees or 20 percent of its total workforce by the end of the
year. The retirement program is expected to cost the company
around Php500 million. So far, the company has laid off 150
employees.

ABS-CBN is confident that it can recoup the cost of the
retirements in less than two years. It said the move could save
Php350 million a year.

The network has been working hard to improve operating
efficiency by streamlining operations and cutting down
workforce. It said it will continue to focus its efforts on
regaining lead in primetime ratings, optimizing production cost
and cutting expenses.

Although earnings for the second quarter was an improvement over
the first quarter, ABS-CBN's Php185-million income for the first
half of this year was still 67 percent lower than in the first
half of last year. Airtime and other broadcast-related revenue
was down six percent, while household ratings in Metro Manila
slid to 14 percent from 16 percent last year.

ABS-CBN holds 38 percent market share in the Mega-Manila area as
against GMA-7's 43 percent. But GMA-7 continues to dominate the
primetime ratings (6 pm to 10:30 p.m. slot).

CONTACT:

ABS-CBN Broadcasting Corp
Mother Ignacia St
Corner Sgt
Quezon City 1100
Philippines
Phone:  2 924 4101
Fax:  2 921 5888


BENPRES HOLDINGS: Director Quits to Avoid Conflict of Interest
--------------------------------------------------------------
At the regular meeting of the Board of Directors of Benpres
Holdings Corporation held October 6, 2005, the resignation of
Mr. Vicente T. Paterno as a member of the Board was accepted,
with regrets.

Mr. Paternio is one of the two independent directors of the
Corporation. He has accepted the invitation of the President of
the Philippines for him to become a member of the Consultative
Commission that will propose amendments to the 1987 Philippine
Constitution.

He said that considering the contemplated proposals for
revisions of the economic provisions of the 1987 Philippine
Constitution, he would like to avoid possible grounds for future
accusations on conflict of interest.

CONTACT:

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


COLLEGE ASSURANCE: Assails SEC's Partial Dropping of Complaint
--------------------------------------------------------------
College Assurance Plans Philippines Inc. (CAP) has hit on the
corporate watchdog's move to drop some directors as respondents
to a criminal case filed before the Department of Justice (DoJ),
The Philippine Star reports.

The beleaguered pre-need firm said the move only proved that the
Securities and Exchange Commission (SEC) was irresponsible in
coming up with the complaint.

The SEC has withdrawn its charges against Senator Juan Flavier,
Eusebio Tnaco and Rafael Evangelista as respondents in a
complaint filed against CAP and its directors.

In its complaint, the SEC said directors of corporations, being
responsible for the management of the company, have the
obligation and the legal duty to ensure that the corporation is
operating within the bounds of law. The charges stemmed from
CAP's unauthorized sale of pre-need plans to the public.

CAP legal counsel Gilbert Reyes said both Mr. Flavier and Mr.
Tanco merely restated what the Corporation Code says are the
statutory duties of directors and officers. The two former CAP
directors said they were never involved in the day-to-day
operations of CAP and that they had no shareholdings in the pre-
need firm except for the nominal shares assigned to them.

The SEC did not cite its reasons for removing the three
directors as respondents in the complaint. It merely stated that
these directors' inclusion is "not essential".

In discharging his duties as director of CAP, Sen. Flavier said
he merely relied on the information given by CAP management or
disclosed during meetings of the board of directors. Sen.
Flavier noted that in late 2003, the CAP board approved a
recovery plan aimed at improving its liquidity by increasing its
capital and enhancing the value of its trust assets to meet the
actuarial reserve liability. This recovery plan, however, was
never implemented, forcing Sen. Flavier to resign as director of
CAP in January 2005.

Mr. Evangelista, on the other hand, said he was no longer
working for CAP during the time the alleged fraudulent acts had
been committed by the pre-need firm. He resigned as corporate
secretary of CAP and from all other positions in all other
companies affiliated with CAP on April 20, 2004 for health
reasons.

CONTACT:

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


NATIONAL BANK: Inks Agreement with Sun Life
-------------------------------------------
Sun Life Financial-Philippines and Philippine National Bank have
agreed to use the bank's networks abroad to allow the insurer's
clients to pay premiums through the branches, The Manila
Bulletin says.

The deal would allow Sun Life clients overseas to pay their
premiums through any of PNB's 99 Overseas Remittance Centers.

"We view the OFW market as a growing middle class market," Sun
Life President and CEO Lorenzo Tan said.

OFWs bring in an average of US$8 billion every year and Mr. Tan
said Sun Life would like to provide alternatives for creating
wealth and managing risks through life policies, investments in
mutual funds or pre-need.

Starting this month Expressnet and Express Payment System
depositors of Bank of the Philippine Islands, Banco de Oro and
Land Bank of the Philippines may also use their ATM cards in
selected Sun Life customer centers nationwide to pay for their
premiums.

The collection agreement with PNB in the meantime stipulates
that Sun Life's OFW clients can pay their insurance premiums,
pre-need plan installments or subsequent mutual fund investments
at any PNB overseas branch or remittance centers.

CONTACT:

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


NATIONAL POWER: New Power Scheme Cuts Electricity Bills
-------------------------------------------------------
National Power Corporation's (Napocor) commercial clients have
enjoyed as much as Php754 million in savings under the power
firm's time-of-use (TOU) scheme since November 2004, The Manila
Times reports.

The TOU encourages customers, mainly distribution utilities and
industrial customers, to avail themselves power during of-peak
hours at lower tariffs.

In its report to the Energy Regulatory Commission, Napocor
showed that about 124 electricity distributors, and 33
industrial users saved Php754 in their electricity bills under
the TOU scheme from November last year to August this year. Of
that amount, Php219 million in savings was incurred in August
alone.

Among the firms that realized the biggest savings in August were
the Angeles Electric Co., at Php0.6377 per kilowatt-hour; TIPCO
Estates Corp., Php0.3941; the Manila Electric Co. (MERALCO),
Php0.3694; Davao Light & Power Co. Inc., P0.1069; and the
Visayas Electric Co. Inc., Php0.0831.

These firms' savings may be passed on to households in terms of
lower electricity cost.

CONTACT:

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


PHILIPPINE AIRLINES: NAIA 3 Not Ready for Transfer
--------------------------------------------------
The government is amenable to Philippine Airlines' (PAL)
proposal to integrate its domestic and international operations
at the Ninoy Aquino International Airport Terminal 3 (NAIA 3),
but admitted that the facility is not yet ready for mixed
operations, according to BusinessWorld.

Manila International Airport Authority (MIAA) General Manager
Alfonso Cusi said Terminal 3 was designed only for international
operations, not for mixed operations.

MIAA wants PAL to relocate to Terminal 3 from Terminal 2 as its
anchor tenant. But PAL is only willing to transfer as long as
fees are reasonable. The national flag carrier is still
finalizing the terms of the lease contract, and has asked the
Office of the General Counsel to issue a legal opinion.

PAL has also specified that it should be allowed to integrate
domestic and overseas operations under one roof as this would be
more efficient in terms of costs and operations.

Mr. Cusi said the Terminal 3 is not equipped to address security
and other issues that could arise from mixing international and
local operations.

He said the MIAA is looking at the possibility of putting up an
extra annex that PAL could use for domestic passengers. Certain
areas in the terminal could also be converted but this would
have to come later, he said.

Terminal 3 is set to open in the first quarter of 2006, Mr. Cusi
said. Simulations will be done by January, he added.

Once Terminal 3 reopens, the MIAA will operate Terminal 2 for
purely domestic flights. The old domestic terminal, meanwhile,
will be used as a general aviation terminal which private planes
can use.

CONTACT:

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


UNIOIL RESOURCES: Sets Record Date October 18
---------------------------------------------
Further to Circular for Brokers No. 4223-2005 dated September
16, 2005, Unioil Resources & Holdings Company, Inc. (UNI)
furnished the Philippine Stock Exchange a copy of its SEC Form
20-IS (Preliminary Information Statement) in connection with its
Annual Stockholders' Meeting which will be held on November 15,
2005, at 10:00 a.m. at the Roses Room, Club Filipino, Eisenhower
Street corner Club Filipino Avenue, Greenhills, San Juan, Metro
Manila.

As previously announced, the Board of Directors of the Company
resolved to set the record date on October 18, 2005 for purposes
of determining the stockholders who are entitled to notice of,
and to vote at, the Annual Stockholders' Meeting.

A copy of UNI's Preliminary Information Statement shall be made
available for downloading at the PSE web site:
http://bankrupt.com/misc/tcrap_unioilresources101005.pdf.

CONTACT:

Unioil Resources & Holdings Company Inc.
6/F, Saguittarius Building
H.V. dela Costa St.
Salcedo Village, Makati City
Phone:  893-5718
Fax:  893-5718


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

DELPHA INVESTMENTS: To Distribute Dividend
------------------------------------------
Delpha Investments Pte Limited posted a notice of intended
dividend at the Government Gazette, Electronic Edition with the
following details:

Name of Company: Delpha Investments Pte Limited
Address of Registered Office: c/o 47 Hill Street
#05-01 Chinese Chamber of Commerce & Industry Building
Singapore 179365.
Amount Per Centum: 0.172 Per Centum
When Payable: Oct. 12, 2005
Where Payable : Liquidators' Office
Foo Kon Tan Grant Thornton
47 Hill Street
#05-01 Chinese Chamber of Commerce
& Industry Building
Singapore 179365

Dated this 7th day of October 2005

Kon Yin Tong
Wong Kian Kok
Joint Liquidators
47 Hill Street
#05-01 Chinese Chamber of Commerce
& Industry Building
Singapore 179365


EVERGREAT CONSTRUCTION: Creditor Seeks Winding Up
-------------------------------------------------
Notice is hereby given that Tiara Construction Pte Limited, a
creditor of Evergreat Construction Company Pte Limited,
presented a winding up petition against the Company to the
Singapore High Court on Sept. 20, 2005.

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

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

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

The Petitioner's address is 3 Woodlands Industrial Park E1, #05-
01 Northland Industrial Building II, Singapore 757726.

The Petitioner's solicitors are Messrs Richard Lim & Company of
No. 151 Chin Swee Road, #02-02 Manhattan House, Singapore
169876.

Dated this 5th day of October 2005

Messrs Richard Lim & Company
Solicitors for the Petitioner

Note:

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


MEDIASTREAM LIMITED: Seeks to Acquire Firm's Shares
---------------------------------------------------
Mediastream Limited (MSL) announced that on Aug. 19, 2005, the
Company's board of directors and judicial manager Timothy James
Reid entered into a conditional sale and purchase agreement with
the following: Mdm. Wong Juat Jiong (Mrs. Margaret Koh WJJ),
Messrs. Koh Chin Hin, Ang Lay Leong, Yom Yoon Chong, Wong Wai
Kin, and Wong Wee Meng and ATWK Pte Limited, where the Company
would acquire 100% of the issued and paid-up share caital of   
Opus IT Services Private Limited.

As a condition of the acquisition, MSL entered into a
convertible loan agreement with the Vendors, who would lend a
maximum amount of SGD500,000 to the Company.

To view the details on MSL's loan agreement, go to:

http://bankrupt.com/misc/tcrap_mediastreamlimited101005.pdf

CONTACT:

MediaStream Limited (formerly: Form Holdings Limited)
39 Tampines Street 92
MediaStream Building
Singapore 528883
Phone: 65 6788 7888
Fax:   65 6787 1238
Email: info@mediastreamsg.com
Web site: http://www.mediastreamsg.com


PROTOS STEAMSHIP: Prepares to Pay Dividend to Creditors
-------------------------------------------------------
Protos Steamship Pte Limited, formerly of 1 Maritime Square,
#12-19 World Trade Centre, Singapore 099253 posted a notice of
intended dividend at the Government Gazette, Electronic Edition
with the following details:

Name of Company: Protos Steamship Pte Limited
Court: Singapore High Court
Number of Matter: Companies Winding Up No. of 257 of 1995
Last Day for Receiving Proofs: Oct.21, 2005
Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: Oct. 7, 2005

Chan Wang Ho
Assistant Official Receiver


VIRAJAYA INTERNATIONAL: Court Orders Winding Up
-----------------------------------------------
In the matter of Virajaya International Pte Limited, the
Singapore high Court issued a winding up order against the
Company on Sept. 23, 2005, with the following details:

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

Dated this 28th day of September 2005

Messrs Tan Kok Quan Partnership
Solicitors for the Petitioners


WH SMITH: Creditors Asked to Submit Debt Claims
-----------------------------------------------
Notice is hereby given that the creditors of WH Smith Pte
Limited, whose debts or claims have not already been admitted,
are required to submit particulars of their debts or claims and
any security held by them tothe Liquidator on or beofre Nov. 3,
2005.

This should be done by delivering or sending through the post a
formal Proof of Debt in accordance with Form 77 containing their
respective debts or claims to the Liquidator's office.

In default of complying with this notice, creditors will be
excluded from the benefit of any distribution made before their
debts or claims are proved or their priority is established, and
from objecting to the distribution.

Dated this 3rd day of October 2005

Lim Say Wan
Liquidator
c/o 6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809


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

EASTERN WIRE: Details Changes in Board Composition
--------------------------------------------------
Eastern Wire Public Co. Ltd. informed the Stock Exchange of
Thailand (SET) on the resolutions passed during the board of
directors meeting regarding the change of director and executive
officers.

(1) Resignation of Director and Executive Officer

(1.1) Mr. Pirom Priyawat resigned from Director and Managing
Director, effective on October 7, 2005.

(1.2) Ms. Petcharee Siriwattago resigned from Director,
effective on October 7, 2005.

(2) Appointment the new directors and Managing Director
according to the board of director agreement No. 10/2005 October
7, 2005.

(2.1) Dr. Kijbodi Chinabenajapuch as a Director, effective on
October 7, 2005

(2.2) Mr. Panoth Kongviroj as a Director, effective on October
7, 2005

(2.3) Dr. Nob Satyasaii as a Managing Director, effective on
October 7, 2005

Please be informed accordingly

Best regards,
Mr. Sontaya Noicharoen
Chief Operation Officer
Eastern Wire Public Company Limited

CONTACT:

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


PREMIER ENGINEERING: EGM Postponement Under Consideration
---------------------------------------------------------
Premier Engineering and Technology Public Company Limited
issued to the Stock Exchange of Thailand (SET) a notice that the
Board of the Directors had passed the resolution to call the
Extraordinary General Meeting of Shareholders to be held on
October 26, 2005, at 10:00 a.m. in order to consider and approve
for the Company to enter into the connected transaction.
      
The Company has been informed by the independent financial
advisor who was assigned to provide the opinion to the
shareholders with respect of the connected transaction that they
cannot provide such opinion within the period of time that the
Company is required by the Notification of the Stock Exchange of
Thailand to deliver the shareholders the invitation letter
together with such opinion.

The company therefore finds it necessary to call another
Meeting of Board of Directors to consider and approve the
postponement of the date of Extraordinary General Meeting of
Shareholders no.1/2548 and cancellation of the Closing Date of
share register book previously scheduled on October 6, 2005.
      
The company advised the Exchange that it would issue additional
information on the new scheduled Date of Extraordinary General
Meeting of Shareholders no.1/2548 and the Closing Date of share
register book as soon as the Board of Directors has had the
resolution of said matter.

Please be kindly informed accordingly.

Sincerely yours,
Mrs. Duangthip Eamrungroj              
Director

CONTACT:    

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



BOND PRICING: For the Week 10 October to 14 October 2005
--------------------------------------------------------

Issuer                              Coupon     Maturity   Price
------                              ------     --------   -----


AUSTRALIA
---------
Advantage Group Ltd                  10.000%     4/15/06     1
Ainsworth Game                        8.000%    12/31/09     1
Alinta Networks                       5.750%     9/22/10    15
Amcom Telecommunications Ltd         10.000%    10/28/07     2
APN News & Media Ltd                  7.250%    10/31/08     5
A&R Whitcoulls Group                  9.500%    12/15/10     8
Arrow Energy NL                      10.000%     3/31/08     1
Babcock & Brown Pty Ltd               8.500%    12/31/49     8
Becton Property Group                 9.500%     6/30/10     1
BIL Finance Ltd                       8.000%    10/15/07     8
BIL Finance Ltd                       8.750%    10/15/05     9
BIL Finance Ltd                       9.250%    10/15/06     9
Capital Properties NZ Ltd             8.500%     4/15/07     8
Capital Properties NZ Ltd             8.500%     4/15/09     8
Capital Properties Nz Ltd             8.000%     4/15/10     8
Cardno Limited                        9.000%     6/30/08     3
CBH Resources                         9.500%    12/16/09     1
Chrome Corporation Ltd               10.000%     2/28/08     1
Djerriwarrh Investments Ltd           6.500%     9/30/09     4
eBet Limited                         10.000%    11/29/06    21
Evans & Tate Ltd                      8.250%    10/29/07     1
Fletcher Building Ltd                 7.550%     3/15/11     8
Fletcher Building Ltd                 7.800%     3/15/09     8
Fletcher Building Ltd                 7.900%    10/31/06     8
Fletcher Building Ltd                 8.300%    10/31/06     8
Fletcher Building Ltd                 8.600%     3/15/08     8
Fletcher Building Ltd                 8.750%     3/15/06     8
Fletcher Building Ltd                 8.850%     3/15/10     8
Fernz Corp Ltd                        8.560%    10/15/06     8
Futuris Corporation Ltd               7.000%    12/31/07     2
GPS Online Ltd                       10.000%     6/30/06     1
Gympie Gold Ltd                       8.500%     9/30/07     1
Hy-Fi Securities Ltd                  7.000%     8/15/08     8
Hy-Fi Securities Ltd                  8.750%     8/15/08    10
Hudson Timber Products Ltd            7.000%    12/31/10     1
Hutchison Telecoms Australia          5.500%     7/12/07     1
Infrastructure & Utilities NZ Ltd     8.500%     9/15/13     8
Infrastructure & Utilities NZ Ltd     8.500%    11/15/15     8
Investa Property Group Ltd            6.000%     5/28/08     6
Kagara Zinc Ltd                       9.750%     5/06/07     2
MacArthur Coal                       10.000%    12/11/05     6
Nuplex Industries Ltd                 9.300%     9/15/07     8
Pacific Print Group Ltd              10.250%    10/15/09    11
Primelife Corporation                 9.500%    12/08/06     1
Primelife Corporation                10.000%     1/31/08     1
Riversdale Mining Ltd                 8.000%    12/31/05     2
Salomon SB Australia                  4.250%     2/01/09     8
Sapphire Securities Ltd               7.410%     9/20/35     7
Sapphire Securities Ltd               9.150%     9/20/35     9
Sherlock Bay Nickel                  12.000%     9/01/07     1
Silver Chef Ltd                      10.000%     8/31/08     1
Software of Excellence                7.000%     8/09/07     1
Strathfield Group                    11.000%    12/31/05     1
Sunshine Gas Company Ltd             12.000%     9/30/06     1
Sydney Gas Company                   12.000%     4/01/06     1
Sydney Gas Limited                   12.000%     6/01/06     1
Tower Finance Ltd                     8.650%    10/15/09     8
Tower Finance Ltd                     8.750%    10/15/07     8
TrustPower Ltd                        8.300%     9/15/07     7
TrustPower Ltd                        8.300%    12/15/08     8
TrustPower Ltd                        8.500%     9/15/12     8
TrustPower Ltd                        8.500%     3/15/14     8
Vision Systems Ltd                    9.000%    12/15/08     2


INDONESIA
---------

Indonesia Government Bond             9.500%     6/15/15    73
Indonesia Government Bond            10.000%     7/15/17    75

MALAYSIA
--------

Aliran Ihsan Resources Bhd            5.000%    11/29/11     1
Artwright Holdings Bhd                5.500%     3/06/07     1
Asian Pac Holdings Bhd                4.000%    12/22/05     1
Berjaya Group Bhd                     5.000%    10/17/09     1
Berjaya Land Bhd                      5.000%    12/30/09     1
Berjaya Sports Toto Bhd               8.000%      8/04/12    4
Camerlin Group Bhd                    5.500%      7/15/07    1
Crescendo Corporation Bhd             3.000%      8/25/07    1
Dataprep Holdings Bhd                 4.000%      8/06/07    1
Eden Enterprises (M) Bhd              2.500%     12/02/07    1
EG Industries Bhd                     5.000%      6/16/10    1
Equine Capital Bhd                    3.000%      8/26/08    1
Fountain View Development Sdn Bhd     3.500%     11/03/06    1
Furqan Business Organization          2.000%     12/19/05    1
Gadang Holdings Bhd                   2.000%     12/24/08    1
Greatpac Holdings Bhd                 2.000%     12/11/08    1
Gula Perak Bhd                        6.000%      4/23/08    1
Hong Leong Industries Bhd             4.000%      6/28/07    1
Huat Lai Resources Bhd                5.000%      3/28/10    1
I-Berhad                              5.000%      4/30/07    1
Insas Bhd                             8.000%      4/19/09    1
Integrax Bhd                          3.000%     12/24/05    1
Kamdar Group Bhd                      3.000      11/09/09    1
Killinghall Bhd                       5.000%      4/13/09    1
Konsortium Lebuhraya                  4.000%      7/15/22   72
Kosmo Technology Industrial Bhd       2.000%      6/23/08    1
Kretam Holdings Bhd                   1.000%      8/10/10    1
Kumpulan Jetson                       5.000%     11/27/12    1
LBS Bina Group Bhd                    4.000%     12/29/06    1
LBS Bina Group Bhd                    4.000%     12/31/07    1
LBS Bina Group Bhd                    4.000%     12/31/08    1
LBS Bina Group Bhd                    4.000%     12/31/09    1
Lebar Daun Bhd                        2.000%      1/06/07    4
Lion Diversified Holdings Bhd         2.000%      6/01/09    1
Media Prima Bhd                       2.000%      7/18/08    1
Mithril Bhd                           3.000%      4/05/12    1
Mithril Bhd                           8.000%      4/05/09    1
Mutiara Goodyear Development Bhd      2.500%      1/15/07    1
Naim Indah Corporation Bhd            0.500%      8/24/06    1
Nam Fatt Corporation Bhd              2.000%      6/24/11    1
Pantai Holdings Bhd                   5.000%      3/28/07    2
Pantai Holdings Bhd                   5.000%      7/31/07    2
Patimas Computers Bhd                 6.000%      2/19/06    1
Pelikan International Corp Bhd        3.000%      4/08/10    1
Poh Kong Holdings Bhd                 3.000%      1/20/07    1
Prinsiptek Corporation Bhd            2.000%     11/20/06    1
Puncak Niaga Holdings Bhd             2.500%     11/18/16    1
Ramunia Holdings                      1.000%     12/20/07    1
Rashid Hussain Bhd                    0.500%     12/24/12    1
Rashid Hussain Bhd                    3.000%     12/24/12    1
Rhythm Consolidated Bhd               5.000%     12/17/08    1
Silver Bird Group Bhd                 1.000%      2/15/09    1
Southern Steel                        5.500%      7/31/08    1
Tanah Emas Corporation Bhd            2.000%     12/09/06    1
Talam Corporation Bhd                 7.000%      4/19/06    1
Tap Resources Bhd                     2.000%      6/29/06    1
Tenaga Nasional Bhd                   3.050%      5/10/09    1
Time Engineering Bhd                  2.000%     12/25/05    1
VTI Vintage Bhd                       4.000%      8/22/06    1
WCT Land Bhd                          3.000%      8/02/09    1
Wah Seong Corp                        3.000%      5/21/12    3


SINGAPORE
---------

Housing & Dev                         3.200%     10/12/15   22
Sengkang Mall                         8.000%     11/20/12    1
Structural System Singapore          11.000%      6/30/07    1
Tampines Assets Limited               5.625%     12/07/06    1
Tincel Limited                        7.400%      6/31/11    1


                            *********


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

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

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

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

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information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***