TCRAP_Public/051025.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 25, 2005, Vol. 8, No. 211

                            Headlines

A U S T R A L I A

AIR NEW ZEALAND: Pressure Mounts to Rethink Job Cuts
AIR NEW ZEALAND: Forecasts 60% Profit Fall
AUSTRALIS MINING: ASIC Proceedings Deferred
AVCHICK PTY: Winding Up Process Initiated
AYJON PTY: Declares First, Final Dividend Today

BIRDIES PLUS: Members Resolve to Wind Up Company
BONLAC FOODS: Annual General Meeting Set November 23
CELLCORP PTY: Steven Nicols Named Official Liquidator
CN SERVICES: Intends to Pay Dividend to Creditors
DONTAS HOLDINGS: Members Pass Winding Up Resolution

E.M.P. EVENT: Debt Default Triggers Liquidation
FRIGWAYS PTY: Final Meeting Fixed November 1
FULLER & YOUNG: Enters Liquidation
INDIRAND PTY: Liquidator to Present Winding Up Report
JAMES HARDIE: Inching Towards Asbestos Compo Deal

KIAMA DOWNS: Members Agree to Cease Operations
MT CEMENT: Court Appoints Liquidator
NATIONAL AUSTRALIA: Former Traders to Face Trial April 2006
NATIONAL AUSTRALIA: Irish Banks Sale Profit Lower Than Forecast
NYLEX LIMITED: To Streamline Ops, Grow Core Businesses

PETER COX: Declares First, Final Dividend
PLANET MAPS: Winds Up Business
POOLE & CO: Members Opt for Voluntary Liquidation
QANTAS AIRWAYS: Moves for Code-share Arrangements
RALPH D'SILVA: Members to Receive Liquidator's Report

RAYMONTE PTY: Placed Under Voluntary Winding Up
SCARLETT ENTERPRISES: Final Meeting Slated for October 31
SOUTHERN VICTORIA: Prepares to Wind Up Business
UNDERGROUND PIPELINES: Court Orders Winding Up


C H I N A  &  H O N G  K O N G

ASIAN BLOODSTOCK: Winding Up Hearing Set December 7
CHANGCHUN DA: Accountant Yau Wing-yiu Resigns
CHEERY CITY: Creditors Meeting Slated for November 4
CHINA SOUTHERN: Introduces New Airbus A330 to Sydney
CHINA SOUTHERN: Targets CNY100-Mln Net Profit This Year

EMPIRE PROPERTIES: To Undergo Winding Up Process
GUO XIN: Losses Widen in FY05
HAMPSHINE LIMITED: Issues Debt Claim Notice
HERMES TRADING: Enters Bankruptcy
KWONG WING: Receives Bankruptcy Order

SERENDIPITY LIMITED: High Court Orders Winding Up
VICTORY NATIONAL: Winding Up Process Initiated
WORLD ASIA: Set to End Operations
* Big Four Banks Uncover US$197-Mln of H1 Fraud Cases


I N D I A

FOOD CORPORATION: Laments Lack of Storage Facilities in HP
INDUSTRIAL INVESTMENT: Faces INR1,000-Crore Winding Up Option
RANBAXY LABORATORIES: Incurs US$2.38-Mln Loss in Q3


I N D O N E S I A

BANK MANDIRI: Government May Postpone Stake Sale
GARUDA INDONESIA: Government to Restructure Debt to Bank Mandiri
PERTAMINA: Slashes Next Month's Exports by 10%
PERUSAHAAN LISTRIK: Signs Natural Gas Agreements


J A P A N

ISHIKAWAJIMA-HARIMA INDUSTRIES: R&I Assigns BBB Rating
MEIJI YASUDA: President, Execs to Quit Over Scandal
MITSUBISHI FUSO: Introduces "Rosa" Light Bus
MITSUBISHI MOTORS: Wins Scottish Sports Car of the Year
MITSUBISHI MOTORS: Unveils Production Figures for 1H/2005

PIONEER CORPORATION: Expects FY05 JPY24-Bln Loss
SANYO ELECTRIC: To End Household Appliance Production
SEIBU RAILWAY: Japan Prosecutors Seek Harsher Penalties for Exec
TOSHIBA CORPORATION: To Upgrade Chip Capital Spending to US$1.95


K O R E A

ASIANA AIRLINES: Suffers Losses in 3Q
JINRO BALLANTINES: To Merge with Pernod Ricard Korea


M A L A Y S I A

AKTIF LIFESTYLE: Awaits SC Approval of Restructuring Scheme
AKTIF LIFESTYLE: Net Loss Narrows in 2Q/FY05
AMSTEEL CORPORATION: Undertakes Shares Sale
ANCOM BERHAD: Buys Back Ordinary Shares
FOREMOST HOLDINGS: Unveils Directors Dealing in Securities

FOUNTAIN VIEW: Issues New Shares for Listing, Quotation
FURQAN BUSINESS: Directors Send Out Letter of Demand
KEMAYAN CORPORATION: Books MYR27,674,000 Net Loss
MAGNUM CORPORATION: Bourse to List, Quote New Shares
MAGNUM CORPORATION: Buys Back 221,800 Shares

MAXIS COMMUNICATIONS: Director Disposes of Securities
OILCORP BERHAD: Inks MoU with PT Energi
PACIFIC & ORIENT: Issues Notice of Shares Buy Back
POS MALAYSIA: New Shares Up for Listing, Quotation
PUNCAK NIAGA: Summary Judgment Hearing Moved to November 24

TELEKOM MALAYSIA: Gets Approval to Purchase Mobile One Shares


P H I L I P P I N E S

ATLAS CONSOLIDATED: Off-take Deals Still Hanging
BAYAN TELECOMMUNICATIONS: Lets Go of RCPI; Retains Western Union
EVER GOTESCO: Filing of Petition for Review Gets Nod
NATIONAL POWER: Sale Up 45.3% in First Half
PACIFIC PLANS: Justifies Rehabilitation Petition

VICTORIAS MILLING: New Director Joins Board


S I N G A P O R E

FIRSTLINK INVESTMENTS: Passes All EGM Resolutions
INTERNOC SINGAPORE: Receiving Proofs of Claims Until November 4
NATSTEEL LIMITED: Unit Sells Shares to Sister Firm
NH CERAMICS: Auditors OK Full-Year Financial Results
TWK SKILL: Court Orders Winding Up


T H A I L A N D

ABICO HOLDINGS: Details Progress of Rehab Plan
THAI PETROCHEMICAL: Updates SET on TPI Common Stock Sale
WYNCOAST INDUSTRIAL: Q1 Results Swing to Black
WYNCOAST INDUSTRIAL: Unveils Six Months Progress Report
BOND PRICING: For the Week 24 October to 28 October 2005

     -  -  -  -  -  -  -  -

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

AIR NEW ZEALAND: Pressure Mounts to Rethink Job Cuts
----------------------------------------------------
The New Zealand government may be forced to intervene and spare
jobs of 617 Air New Zealand maintenance engineers, according to
the New Zealand Herald.

Pressure from unions and the Green Party is mounting during a
mandatory consultation period before the national carrier
confirms its decision to outsource its heavy maintenance work
for its long-haul aircraft.

The carrier earlier said it will restructure its engineering
services business by cutting around 600 jobs. In a 12-month
review of its engineering services business has concluded that
"its financial situation will not improve".

The business is facing declining volumes of work from Air New
Zealand and falling demand from long-term external customers,
the airline said.

The carrier also related that it has begun talks with staff and
unions on a proposal to outsource maintenance of wide-body
planes and engines, with the likely loss of 600 jobs, mostly in
Auckland.

The proposed outsourcing could bring savings of more than NZ$100
million over a five-year period after restructuring costs, which
may be around NZ$13 million in the current fiscal year.

Air New Zealand has said the job losses are unavoidable after a
decision to move maintenance of long-haul aircraft overseas
because it can't compete with specialist large-scale maintenance
operators in Europe and Asia.

CONTACT:

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


AIR NEW ZEALAND: Forecasts 60% Profit Fall
------------------------------------------
National flag carrier Air New Zealand Limited expects its
operating profit to fall by nearly 60 percent in the current
fiscal year if fuel prices remain high, Dow Jones reports.

Air New Zealand said at its annual meeting in Auckland that a
combination of negative factors could cut profit before
extraordinary items and tax to NZ$100 million in the fiscal year
ending June 30, 2006.

The figure is 57 percent below the prior year's figure of NZ$235
million, and also represents a profit downgrade from Air New
Zealand's August statement that operating profit may be 40
percent below the prior year.

John Palmer, chairman of Air New Zealand, said the airline is
battling high fuel prices and an "oversupply of capacity" in the
industry.

"Combine these negative influences with significant transition
costs, and assuming that fuel prices persist and we are unable
to increase our fuel surcharges, then it is likely that the 2006
profit before unusuals and tax will be around NZ$100 million,"
Mr. Palmer said.

The airline, which is 80 percent-owned by the New Zealand
government with the rest listed on the local stock exchange,
said transition costs are related to the introduction of eight
new Boeing-777 aircraft, which require "significant set-up and
training expense".

The airline said it is targeting cost cuts of NZ$100 million in
the current fiscal year, "mainly through reductions in long-haul
base commissions" and the potential combination of Air New
Zealand and its low cost unit Freedom Air's Airbus A320 fleets.


AUSTRALIS MINING: ASIC Proceedings Deferred
-------------------------------------------
The Australian Securities and Investment Commission (ASIC) and
Australis Mining Corporation Limited (Australis) have, by mutual
consent, agreed to defer the hearing of the interlocutory
proceedings until November 2, 2005.

During the intervening period the parties will engage in
discussions to identify the particular areas of concern of ASIC
and consider whether a resolution can be reached with a view to
having the proceedings dismissed.

Also during the intervening period, by mutual consent, Australis
will continue its mining operations and generally continue to
carry on its business. Australis has given undertakings to ASIC
not to send any product, monies or other assets outside of
Australia during that period.

CONTACT:

Australis Mining Corporation Limited
Level 35, 3504 100 Miller Street
North Sydney, NSW 2060
Phone: +612 8908 5988
Fax: +612 8908 5977
E-mail: w.kember@australismining.com.au
Web site: http://www.australismining.com.au


AVCHICK PTY: Winding Up Process Initiated
-----------------------------------------
Notice is hereby given that at a General Meeting of Members of
Avchick Pty Limited held on Sept. 21, 2005, it was resolved that
the Company be wound up voluntarily, and that Gregory Stuart
Andrews of G. S. Andrews & Associates, 22 Drummond Street,
Carlton 3053 be appointed Liquidator for such winding up.

Dated this 22nd day of September 2005

Gregory S. Andrews
Liquidator
G. S. Andrews & Associates
22 Drummond Street, Carlton Vic 3053
Phone: 03 9662 2666
Fax:   03 9662 9544


AYJON PTY: Declares First, Final Dividend Today
-----------------------------------------------
Ayjon Pty Limited will declare a first and final dividend today,
Oct. 25, 2005.

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

Dated this 6th day of September 2005

J. P. Downey
Liquidator
Cole Downey & Co. Chartered Accountants
Level 1, 22 William Street
Melbourne Vic 3000


BIRDIES PLUS: Members Resolve to Wind Up Company
------------------------------------------------
Notice is hereby given that at a meeting of the members of
Birdies Plus Pty Limited held on Sept. 20, 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 Barry Keith Taylor, of B. K. Taylor & Co., 8th Floor, 608
St. Kilda Road, Melbourne be appointed Liquidator.

Dated this 20th day of September 2005

Barry K. Taylor
Barry K. Taylor & Co.
8th Floor, 608 St. Kilda Road
Melbourne


BONLAC FOODS: Annual General Meeting Set November 23
----------------------------------------------------
Bonlac Foods Limited gives notice that the Annual General
Meeting of members of the Company will be held at Level 7, 636
St. Kilda Road, Melbourne on Wednesday, November 23, 2005 at
9:00 a.m.

AGENDA

(1) Financial Statements and Statutory Reports

To consider the financial statements, director' report and
auditor's report for the financial year ended June 30, 2005.

VOTING AT THE MEETING

A Class shares and B class shares [held by Fonterra
(International) Limited, a wholly owned subsidiary of Fonterra
Co-operative Group Limited], are the only shares in the Company
which confer on their holders a right to vote at the Annual
General Meeting.

Members who are entitled to vote at the meeting have a right to
appoint a proxy and should use the proxy form accompanying this
notice. The only member to vote is Fonterra (International)
Limited. The proxy need not be a member of the Company. A member
who is entitled to cast two or more votes may appoint two
proxies and may specify the proportion or number of votes each
proxy is appointed to exercise. If a member appoints two proxies
and the appointment does not specify the proportion or number of
the member's votes each proxy may exercise, section 249X of the
Corporations Act will take effect so that each proxy may
exercise half of the votes. A proxy's authority to speak and
vote for a member at the meeting is suspended if the member is
present at the meeting.

Proxies and the powers of attorney (if any) under which they are
digned must be received:

- by the Company Secretary;
- at Level 7, 636 St. Kilda Road, Melbourne 3004; or
- by fax 61 3 9270 0911

not later than 9:00 a.m. on Monday, November 21, 2005.

CONTACT:

Bonlac Foods Limited
Level 7/636 St Kilda Rd
Melbourne
VIC 3004
Phone: +61 3 9270 0922
Fax: +61 3 9270 0911


CELLCORP PTY: Steven Nicols Named Official Liquidator
-----------------------------------------------------
Notice is hereby given that a meeting of members of Cellcorp Pty
Limited held on Sept. 15, 2005 it was resolved that the Company
be wound up voluntarily. Steve Nicols of Nicols + Brien was
appointed Liquidator for such purpose.

Dated this 29th day of September 2005

Steven Nicols
Liquidator
Nicols + Brien
Level 2, 350 Kent Street
Sydney NSW 2000
Phone: 02 9299 2289
Web site: http://www.bankrupt.com.au/


CN SERVICES: Intends to Pay Dividend to Creditors
-------------------------------------------------
CN Services Australia Pty Limited will declare a first and final
dividend to its unsecured creditors today, Oct. 25, 2005.

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

Dated this 26th day of August 2005

Geoffrey McDonald
Liquidator
Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000


DONTAS HOLDINGS: Members Pass Winding Up Resolution
---------------------------------------------------
Notice is hereby given that an extraordinary general meeting of
the members of Dontas Holdings Pty Limited held on Sept. 16,
2005, it was resolved that the Company be wound up voluntarily,
and that Dean G. Scott of D. G. Scott & Co. Chartered
Accountants of 2nd Floor Dowie House, 83-89 Currie Street
Adelaide, South Australia 5000 be appointed Liquidator.

Dated this 19th day of September 2005

Dean G. Scott
Liquidator
D. G. Scott & Co.
2nd Floor, 83-89 Currie Street
Adelaide SA 5000


E.M.P. EVENT: Debt Default Triggers Liquidation
-----------------------------------------------
Notice is hereby given that at an Extraordinary General
Meeting of E.M.P. Event Management Professionals Pty Limited
held on Sept. 15, 2005, the following Special Resolution was
passed:

That as it will not be able to pay its debts within 12 months,
the Company be wound up by a Creditors Voluntary Winding Up.

Stephen Jay of Nicholls & Co. Chartered Accountants, Suite 103,
1st Floor, Wollundry Chambers, Johnston Street, Wagga Wagga, NSW
was appointed Liquidator for the winding up.

Dated this 22nd day of September 2005

Stephen Jay
Liquidator
Suite 103, 1st Floor, Wollundry Chambers
Johnston Street, Wagga Wagga NSW 2650


FRIGWAYS PTY: Final Meeting Fixed November 1
--------------------------------------------
Notice is given that a final meeting of the members and
creditors of Frigways Pty Limited will be held on Nov. 1, 2005,
10:30 a.m. at the offices of Lowe Lippmann Chartered
Accountants, 5 St. Kilda Road, St. Kilda, Vic, 3182.

The purpose of each meeting is to table an account showing the
manner of the winding up and the disposal of the property of the
Company, and to hear any explanations that may be given by the
liquidator.

Dated this 20th day of September 2005

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


FULLER & YOUNG: Enters Liquidation
----------------------------------
Notice is hereby given that at a general meeting of the members
of Fuller & Young held on Sept. 16, 2005, it was resolved that
the Company be wound up voluntarily, and that Antony de Vries
and Riad Tayeh of de Vries Tayeh, Level 3/95 Macquarie Street,
Parramatta NSW 2150 be appointed Joint and Several Liquidators
for such purpose.

Dated this 16th day of September 2005

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


INDIRAND PTY: Liquidator to Present Winding Up Report
-----------------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of Indirand Pty Limited will be held on Nov. 1, 2005,
9:00 a.m. at Hall Chadwick Level 29, 31 Market Street,
Sydney NSW 2000, for the following purposes:

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the liquidation period ending on Nov. 1, 2005.

(2) Any other business.

Adrian S. Duncan
Liquidator
c/o Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000


JAMES HARDIE: Inching Towards Asbestos Compo Deal
-------------------------------------------------
Embattled James Hardie Industries NV and the State Government
are still negotiating the terms of an eleventh asbestos
compensation draft, The Daily Telegraph reports.

The still elusive agreement is aimed at ensuring future victims
of asbestos manufactured by the company will receive due
compensation.

James Hardie and the State Government are still crawling their
way towards an agreement, more than 12 months after a special
commission of inquiry began into a looming crisis in asbestos
compensation funding.

Negotiations bogged down in September over the prickly issue of
how to guarantee long-term funding for victims if the company
were to be placed in administration according to Dutch law.

The company's board, now headed by Meredith Hellicar, agreed to
move its corporate headquarters to The Netherlands as part of a
controversial restructuring in 2001.

Adding weight to Government concerns that any funding scheme
could be unraveled by laws enacted in a foreign jurisdiction is
that the company's headquarters are in the U.S. Chapter 11
bankruptcy laws in the U.S. could render void any agreement
negotiated locally.

The complexity of the legal issues confronting the parties has
convinced many on both sides that an agreement is unlikely this
year.

James Hardie and government negotiators are expected to meet by
the end of the month.

CONTACT:

Investor and Analyst Inquiries:

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

Media Inquiries:

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


KIAMA DOWNS: Members Agree to Cease Operations
----------------------------------------------
Notice is given that at a meeting of members of Kiama Downs
Bricklaying held on Sept. 19, 2005, it was resolved that the
Company be wound up voluntarily.

At a meeting of creditors held on the same day, Danny Vrkic of
Jirsch Sutherland & Co - Wollongong was appointed Liquidator for
the winding up.

Dated this 19th day of September 2005

Danny Vrkic
Liquidator
Jirsch Sutherland & Co.
Level 3, 6-8 Regent Street
Wollongong NSW 2500


MT CEMENT: Court Appoints Liquidator
------------------------------------
On Sept. 20, 2005, the Supreme Court of New South Wales, Equity
Division appointed Christopher J. Palmer to be Liquidator in the
winding up of MT Cement Rendering Pty Limited.

Dated this 4th day of October 2005

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


NATIONAL AUSTRALIA: Former Traders to Face Trial April 2006
-----------------------------------------------------------
Three former National Australia Bank (NAB) foreign exchange
traders have been committed for trial on April 20 next year in
the Victorian County Court, says the Sydney Morning Herald.

The ex-traders namely Gianni Gray of Port Melbourne, Vince
Ficarra of Fitzroy North and David Bullen of Eversley in central
Victoria were not required to plea.

Judge Chettle told Mr. Bullen, who has is not legally
represented, to consider the implications of refusing to seek
legal advice.

Mr. Gray and Mr. Ficarra had their charges reduced in the
Magistrates Court last month.

Mr. Gray had 23 charges of gaining financial advantage by
deception, including one relating to a bonus, reduced to seven.

Mr. Ficarra, who faces similar charges, had 23 counts of gaining
financial advantage by deception cut to 13.

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


NATIONAL AUSTRALIA: Irish Banks Sale Profit Lower Than Forecast
---------------------------------------------------------------
National Australia Bank announced, that following final
adjustments made to the sale completion accounts, the net profit
on sale of the Northern Bank and National Irish Bank was
AU$1,043 million compared to the initial estimate of AU$1,073
million.

The sale completion process also identified the need for an
adjustment to previously reported net interest margins and net
interest spreads for the NAB's United Kingdom banks.

The adjustments have no effect on previously reported Group
profit or margins.

The adjustments are required to correctly record the inter-
company balances between the United Kingdom and Irish banks, and
affect net interest margins and net interest spreads reported
for the United Kingdom in the 2005 March half year and prior
periods commencing September 2003.

For the March 2005 half year the reported net interest margin
for the United Kingdom ongoing operations (ie excluding the
Irish banks) reduces from 4.00% to 3.91% and the net interest
spread falls from 3.66% to 3.53%.  There is a similar movement
in interest margins and spreads reported since September 2003.

The full details of changes to the United Kingdom net interest
margins and spreads at the 2005 March half year are available by
clicking on the below link. The adjustments will also be
incorporated in the Group's 2005 full year results to be
announced on 9 November.

Full details of final adjustments for sale of Irish banks are
available at http://bankrupt.com/misc/tcrap_nab102405.pdf

CONTACT:

Brandon Phillips
Group Manager, External Relations
Phone: 03 8641 3857 work
       0419 369 058 mobile

Samantha Evans
External Relations Manager
Phone: 03 8641 4982 work
       0404 883 509 mobile

Hany Messieh
Group Manager, Investor Relations
Phone: 03 8641 2312 work
       0414 446 876 mobile


NYLEX LIMITED: To Streamline Ops, Grow Core Businesses
------------------------------------------------------
Nylex Limited has agreed in principle to sell Australian Highway
Plant Services Pty Ltd, which runs the group's plant hire
operations to National Hire Group Limited (NHR) for an
enterprise value of AU$115 million, payable in cash. Nylex
Limited would recognize a significant profit on sale on
completion of this transaction.

The transaction will be subject to NHR due diligence, and to
Nylex Limited shareholder and lender approvals. An expert's
report and Notice of Meeting are expected to be issued in the
next two to three weeks. Subject to these items, the transaction
is expected to complete in January 2006.

The sale is a key outcome of the strategic review of all
businesses announced with the company's final 2005 financial
year results, and will enable the company to focus on, and
develop the scale and profitability of, its core Water
Solutions, Industrial and Consumer businesses. Nylex Limited
expects to reinvest the net proceeds of sale of AH Plant in
synergistic and earnings-accretive businesses during 2006.

CONTACT:

Nylex Limited
Level 2/ 564 St Kilda Rd
Melbourne 3004
Phone:
Phone: (03) 9533 9333
Fax: (03) 9533 9388
E-mail: contactus@nylexlimited.com.au
Web site: http://www.nylexlimited.com.au


PETER COX: Declares First, Final Dividend
-----------------------------------------
Peter Cox Investments Pty Limited will declare a first and final
dividend today, Oct. 25, 2005.

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

Dated this 26th day of August 2005

P. I. Macks
Liquidator
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000
Phone: 8211 7800


PLANET MAPS: Winds Up Business
------------------------------
Notice is hereby given that at a general meeting of members of
Planet Maps Pty Limited held on Sept. 22, 2005, it was resolved
that the Company be wound up voluntarily, and that Schon G.
Condon and Bruce Gleeson of Jones Condon Chartered Accountants,
Level 1 34 Charles Street Parramatta NSW be appointed Joint
Liquidators for the winding up.

Dated this 23rd day of September 2005

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


POOLE & CO: Members Opt for Voluntary Liquidation
-------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Poole & Co Pty Limited held on Sept. 23, 2005,
it was resolved that the Company be wound up voluntarily, and
Christopher Wykes of Lawler Partners Chartered Accountants,
Level 7, 1 Margaret Street, Sydney NSW 2000 was appointed
Liquidator for such purpose.

Dated this 23rd day of September 2005

Christopher Wykes
Liquidator
c/o Lawler Partners
Chartered Accountants
Level 7, 1 Margaret Street
Sydney NSW 2000


QANTAS AIRWAYS: Moves for Code-share Arrangements
-------------------------------------------------
Qantas Airways Ltd has applied to the International Air Services
Commission to start code-share arrangements with Air Malta on
its daily services to the U.K. via Singapore, according to The
Age.

The code share arrangement would be in addition to the existing
code sharing between the two carriers on Qantas services between
Australia and the UK via Bangkok.

In its application Qantas said Air Malta would carry the Qantas
code between Melbourne and London via Singapore.

"Air Malta will offer seats on these flights on a free sale
basis and will set its airfares independently of Qantas," the
application said.

The flights would connect with Air Malta services between London
and Malta.

CONTACT:

Qantas Airways Limited
Qantas Centre, Level 9,
Building A, 203 Coward Street,
Mascot, NSW, Australia, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339


RALPH D'SILVA: Members to Receive Liquidator's Report
-----------------------------------------------------
Notice is hereby given that a general meeting of the members of
Ralph D'Silva Investment Pty Limited will be held on Oct. 31,
2005, 11:00 a.m. at the office of PPB, Level 10, 90 Collins
Street, Melbourne, Vic, 3000, 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
explanation that may be given by the liquidator.

Andrew McLellan
Liquidator
PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


RAYMONTE PTY: Placed Under Voluntary Winding Up
-----------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Raymonte Pty Limited held on Sept. 20, 2005, it
was resolved that the Company be wound up voluntarily, and
Christopher Wykes of Lawler Partners Chartered Accountants,
Level 7, 1 Margaret Street, Sydney NSW 2000 was appointed
Liquidator of the Company.

Dated this 23rd day of September 2005

Christopher Wykes
Liquidator
c/o Lawler Partners Chartered Accountants
Level 7, 1 Margaret Street
Sydney NSW 2000


SCARLETT ENTERPRISES: Final Meeting Slated for October 31
---------------------------------------------------------
Notice is given that a Final Meeting of the members of Scarlett
Enterprises Pty Limited will be held on Oct. 31, 2005, 11:00
a.m. at the offices of Jones Condon Chartered Accountants,
Colmel House, 241 Stirling Street.

AGENDA:

(1) To lay before the meeting the Liquidator's account showing
the manner of the winding up, and the Liquidator's acts and
dealings in the preceding year.

(2) To approve the Liquidator's remuneration.

(3) Any other general business.

Dated this 29th day of September 2005

G. A. Lopez
Liquidator
Jones Condon Chartered Accountants
Colmel House, 241 Stirling Street
Perth WA 6000


SOUTHERN VICTORIA: Prepares to Wind Up Business
-----------------------------------------------
Notice is hereby given that at a meeting of the members of
Southern Victoria Community Radio Inc. held on Sept. 19, 2005, a
special resolution was passed that the Company be wound up
voluntarily as a Creditors Voluntary Winding Up, and that
Geoffrey Charles Ridgeway & Russell Graeme Peake, 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 the winding
up.

Any information in regard to the Report as to Affairs or the
liquidation generally, may be obtained by contacting the
Liquidators' office.

Dated this 20th day of September 2005

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


UNDERGROUND PIPELINES: Court Orders Winding Up
----------------------------------------------
On Sept. 22, 2005, the Supreme Court of New South Wales
appointed David Young of Pitcher Partners, Level 3, 60
Castlereagh Street, Sydney NSW to be the Official Liquidator for
the winding up of Underground Pipelines Pty Limited.

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


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

ASIAN BLOODSTOCK: Winding Up Hearing Set December 7
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Asian Bloodstock Services Limited by the High Court of Hong Kong
Special Administrative Region was on October 12, 2005 presented
to the said Court by Giuseppe Michele Rambaldi, the Trustee of
the Bankrupt Estate of the late Michael James Bastion of Pitcher
Partners, Level 19, 15 William Street, Melbourne, Victoria,
Australia.

The said Petition is directed to be heard before the Court at
9:30 a.m. on December 7, 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.

MINTER ELLISON
Solicitors for the Petitioner
911-918 Hutchison House
10 Harcourt 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 December 6, 2005.


CHANGCHUN DA: Accountant Yau Wing-yiu Resigns
---------------------------------------------
Changchun Da Xing Pharmaceutical Company Limited announced that
Mr. Yau Wing Yiu has tendered his resignation as qualified
accountant, company secretary and authorized representative of
the Company with effect from October 21, 2005 for his personal
business pursuit.

The Company also announced that Mr. Zhang Dong Hai, an executive
director of the Company, has been appointed as an authorized
representative of the Company with effect from October 21, 2005.
As at the date of this announcement, the Company has not yet
identified suitable candidate for qualified accountant and
company secretary. As such, the Company failed to comply with
Rule 5.15 of the Rules Governing the Listing of Securities on
the Growth Enterprise Market (GEM Listing Rules), which requires
the Company, at all time, to employ a qualified accountant at
full time basis.

The Company is identifying suitable candidates for the captioned
positions and will make further announcement upon the
appointment of the captioned positions. The Hong Kong Stock
Exchange reserves the right to take appropriate action for the
breach of GEM Listing Rules.

According to Infocast News, the company earlier announced that
its directors have detected certain irregularities in the
company's accounting records. The company's board of directors
is conducting enquiry on the irregularities and liaising with
its bankers, customers and suppliers in clarifying its financial
position.

It is expected that the internal enquiry would take further time
as majority of the existing executive directors of the board are
just appointed at the annual general meeting of the company held
on June 28.

CONTACT:

Changchun Da Xing Pharmaceutical Company Limited
21/F, New World Tower 1
18 Queen's Road Central, Hong Kong
Phone: 2851-0258
Fax: 2851-0245


CHEERY CITY: Creditors Meeting Slated for November 4
----------------------------------------------------
Cheery City Contractors Limited (In Compulsory Liquidation)
announced that the second creditor's meeting would be held at
the Auditorium, Duke of Windsor Social Service Building, No. 15,
Hennessy Road, Wanchai, Hong Kong on November 4, 2005 at 11:30
in the morning.

The meeting of the creditors is to:

1. Determine by resolution whether or not an application should
be made to the court to appoint a liquidator/liquidators in
place of the liquidator resolved to be appointed in the first
meeting of creditors held on October 27, 2004.

2. Determine by resolution whether or not an application shall
be made to the court for replacing the members of the Committee
of Inspection resolved to be appointed in the first meeting of
creditor held on October 27, 2004 and who are to be members of
the committee, if appointed.

Dated this 21st day of October 2005

IP KWUN TING AND CHO YIM KAN
Joint and Several Provisional Liquidators


CHINA SOUTHERN: Introduces New Airbus A330 to Sydney
----------------------------------------------------
China Southern Airlines will deliver a brand new standard of
service on Australia-China flights from next month, with the
introduction of new Airbus A330-200 aircraft and cocoon-style
flat bed seats in Premium Business Class.

China Southern had previously used its new A330 aircraft only on
its Hong Kong - Guangzhou - Beijing route and this new service
is the first time the airline has used the aircraft outside of
China.

From 1 November, the airline will introduce the 264-seat, dual-
class A330s on its Melbourne-Sydney-Guangzhou and Sydney-
Guangzhou routes.

The aircraft also will debut in Australia the airline's new-look
Premium Business Class, with 24 Minipod flat bed seats from B/E
Aerospace, Inc. (Nasdaq: BEAV)' which has won four prestigious
design awards and was a nominee for Flight International's 2004
Aerospace Industry Award.

"Clearly setting the standard in Business Class service in China
and throughout Asia, China Southern has put the emphasis on
Premium," said Mr. Li Kun, Executive Vice President, China
Southern Airlines.

"Our new Minipod seats offer all of the key design features that
our Premium Business Class customer expects of China's largest
and best airline," said Mr. Li, adding that, "consistent with
our reputation as China's most innovative airline, we are the
first carrier in the People's Republic to offer flat-bed
seating."

China Southern Airlines' all-new Premium Business Class seats
feature:

1. An ergonomically-designed fixed privacy shell which
transforms into an eight degree flat bed, 1.9 meters long. The
entire seat translates forward and widens in one swift motion,-
offering a private fixed living space for each passenger;

2. Independent rotating leg rest adjustments, which provides
support to lower legs and calves;

3. Electrically-operated foot rest extension and bottom cushion
extension, which lengthen and shorten;

4. Fully adjustable, automatic lumbar massage function;

5. Multi-functional telephone and video control unit, which
operates a 10.4-inch LCD tilting viewing screen and on-board
music channels;

6. Easily accessible AC power plugs for laptops and CD players.
No adaptors are needed;

7. A private storage area and hip recess for added personal
convenience;

8. 58 inches of pitch between shell pods;

9. An individual directional LED reading light with full
intermediate dimming; and

10. A pull-out privacy divider separating each passenger.

The largest airline in The People's Republic of China for the
past 2 6 years, China

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

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

CONTACT:

China Southern Airlines
Mr. Jeff Ruffolo, 714-532-2054
RuffoloPR@aol.com
Web site: http://www.cs-air.com


CHINA SOUTHERN: Targets CNY100-Mln Net Profit This Year
-------------------------------------------------------
China Southern Airlines Co. Ltd. is targeting a net profit of
CNY100 million in 2005, AFX News reports, citing the State-owned
Assets Supervision and Administration Commission (SASAC) said.

The SASAC said in a report on its official website that the
carrier is expected to post total revenue of CNY11.2 bln for the
full year.

The Chinese carrier reported a net loss of CNY843 million in the
first half, versus a net profit of CNY103 million for 2004.


EMPIRE PROPERTIES: To Undergo Winding Up Process
------------------------------------------------
Empire Properties Development Consultants Limited whose place of
business is situated at Unit 969, 9th Floor, Hong Kong
International Trade & Exhibition Centre, 1 Trademart Drive,
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 October 12, 2005.

Date of Presentation of Petition: August 4, 2005

Dated this 21st day of October 2005

ET O'Connell
Official Receiver


GUO XIN: Losses Widen in FY05
-----------------------------
Guo Xin Group Limited (1215) disclosed its financial results for
the year ended June 30, 2005.

Currency: HKD
Auditors' Report: Unqualified

                                                  (Audited   )
                                (Audited   )       Last
                                Current            Corresponding
                                 Period             Period
                             from 01/07/2004    from 01/07/2003
                              to 30/06/2005      to 30/06/2004
                          Note  ('000      )       ('000      )

Turnover                           : 122,067            160,960
Profit/(Loss) from Operations      : (46,103)           (5,071)
Finance cost                       : (8,603)            (4,637)
Share of Profit/(Loss) of
  Associates                       : N/A                N/A
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A
Profit/(Loss) after Tax & MI       : (67,066)           (7,182)
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.016)            (0.0019)
         -Diluted (in dollars)     : N/A                N/A
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A
Profit/(Loss) after ETD Items      : (67,066)           (7,182)
Final Dividend                     : Nil                Nil
  per Share
(Specify if with other             : N/A                N/A
  options)

B/C Dates for
  Final Dividend                   : N/A
Payable Date                       : N/A
B/C Dates for (-)
  General Meeting                  : N/A
Other Distribution for             : N/A
  Current Period

B/C Dates for Other
  Distribution                     : N/A

Remarks:

(1) The turnover is derived from continuing operations.

(2) Loss from operations is derived from continuing operations.

(3) The calculation of the basic loss per share is based on the
net loss for the year of HK$67,066,000 (2004: HK$7,182,000) and
on the weighted average number of 4,165,436,565 (2004:
3,747,183,000) shares in issue during the year.

Diluted loss per share for the year has not been presented as
the conversion of convertible notes outstanding during the year
had an anti-dilutive effect.  For the year ended 30 June 2004,
there were no dilutive potential ordinary shares in issue.

The Group is engaged in the trading of consumer goods in Hong
Kong, including sports, merchandise, photographic equipment and
brand-name audio-visual products, operation of commodity futures
trading in the PRC, travelling agency services.
Address     Room 4101, 41st Floor, Far East Finance Centre, 16
Harcourt Road, Admiralty Hong Kong

CONTACT:

Guo Xin Group Limited
Room 4101, 41st Floor
Far East Finance Centre
16 Harcourt Road
Admiralty Hong Kong
Phone: 23883812
Fax: 27837128


HAMPSHINE LIMITED: Issues Debt Claim Notice
-------------------------------------------
Notice is hereby given that the Creditors of Hampshine Limited,
which are being voluntarily wound up, are required on or before
November 21, 2005 to send their names, addresses and
descriptions, full particulars of their debts or claims, as well
as the names and addresses of their solicitors (if any) to the
Liquidators of the said Company.

If so required by notice in writing from the said liquidators to
prove their debts or claims at such time and place as shall be
specified in such notice.

In default thereof, they will deemed to waive all of such debts
or claims and the Liquidators will be entitled seven days after
the above date, to distribute the funds available or any part
thereof to the Members.

Dated this 21st day of October 2005

SUEN PUI YEE
IAIN FERGUSON BRUCE
Liquidators
8th Floor, Gloucester Tower
The Landmark
11 Pedder Street
Central, Hong Kong


HERMES TRADING: Enters Bankruptcy
---------------------------------
Notice is hereby given that the bankruptcy order against Hermes
Trading Company was made on October 12, 2005.

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

Dated this 21st day of October 2005

ET O'Connell
Official Receiver


KWONG WING: Receives Bankruptcy Order
-------------------------------------
Notice is hereby given that the bankruptcy order against Chan
Sai Kwong trading as Kwong Wing Decoration Co. was made on
October 12, 2005.

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

Dated this 21st day of October 2005

ET O'Connell
Official Receiver


SERENDIPITY LIMITED: High Court Orders Winding Up
-------------------------------------------------
Serendipity (H.K.) Limited whose place of business is situated
at Room 1115, 11/F, Peninsula Centre, 67 Mody Road, Tsimshatsui,
Kowloon was issued a winding up order notice by the High Court
of the Hong Kong Special Administrative Region Court of First
Instance on October 12, 2005.

Date of Presentation of Petition: July 29, 2005

Dated this 21st day of October 2005

ET O'Connell
Official Receiver


VICTORY NATIONAL: Winding Up Process Initiated
----------------------------------------------
Victory National Holdings Limited whose place of business is
situated at Rm 701-702, 7th Floor, Daily House, 35-37 Haiphong
Road, Tsimshatsui, Kowloon was issued a winding up order notice
by the High Court of the Hong Kong Special Administrative Region
Court of First Instance on October 12, 2005.

Date of Presentation of Petition: August 4, 2005

Dated this 21st day of October 2005

ET O'Connell
Official Receiver


WORLD ASIA: Set to End Operations
---------------------------------
World Asia International Trading whose place of business is
situated at Rm C Skyline Tower, 18 Tong Mei Road, Mongkok,
Kowloon was issued a winding up order notice by the High Court
of the Hong Kong Special Administrative Region Court of First
Instance on October 12, 2005.

Date of Presentation of Petition: August 8, 2005

Dated this 21st day of October 2005

ET O'Connell
Official Receiver


* Big Four Banks Uncover US$197-Mln of H1 Fraud Cases
-----------------------------------------------------
China's major state-owned commercial banks uncovered CNY1.6
billion (US$197 million) worth of fraud cases in the first half,
Bloomberg News reports, citing the China Banking Regulatory
Commission.

More than 240 fraud cases were discovered between January 1 and
June 30 at Industrial & Commercial Bank of China, Bank of China,
China Construction Bank and Agricultural Bank of China, Shen
Xiaoming, deputy director of the China Banking Regulatory
Commission, said.

The big four accounted for 55 percent of the nation's banking
assets and about a third of the number of fraud cases exposed at
all China lenders.

China is rushing efforts to crack down on bank fraud and
corruption at a time when Industrial Bank, Bank of China and
China Construction Bank are preparing for overseas share sales
that could raise more than $20 billion.

Beijing-based Construction Bank raised $8 billion from a stock
sale last week, the world's biggest initial public offering in
four years.

The government already reprimanded 1,697 employees at financial
institutions for bank frauds and other crimes in the first half.


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

FOOD CORPORATION: Laments Lack of Storage Facilities in HP
----------------------------------------------------------
Ailing Food Corporation of India (FCI) is seeking approval to
construct godowns in Himachal Predesh (HP) to address the
state's lack of grain-storing facilities, Web India relates.

Out of 16 depots in the state, FCI had only five, while three
were hired from the Central Warehousing Corporation (CWC) and
the remaining eight belonged to the state government. The state
also has no depot, which has a capacity of more than 10,000 mts.

But despite these constraints, FCI's regional manager R K Jain
said the corporation was able to meet the demands of the state
government on a daily basis.

Meanwhile, the Centre had recently turned down the corporation's
proposal to construct a godown at Reckong Peo in Kinnaur
district of the state.

"Both the FCI and CWC are permitted to construct godowns only in
Jammu and Kashmir and the North East," Mr. Jain explained.

He said the construction of three more godowns by the CWC and
hiring of two others from private parties in the state was still
under the consideration.

The FCI was already constructing a 2,500 mts capacity godown at
Karat in Kelong area of Lahaul and Spiti district and one unit
of it would be made operational by the month end, which would
enhance the storing capacity of the state.

CONTACT:

North Zone
Food Corporation of India
A-2a,2b Sector -24
Noida - 201301

East Zone
10A, Middleton Row,
Kolkata - 700071
Phone: 2229-8928 / 8742 / 8723 / 8754,
2246-2559 / 2562
E-mail: zmeast@fci.delhi.nic.in

South Zone
Zonal Office 3, Haddows Road,
Chennai - 600 006
Phone : +91-44-28276423, +91-44-28276463
Fax : +91-44-28276623

Web site: http://fciweb.nic.in/


INDUSTRIAL INVESTMENT: Faces INR1,000-Crore Winding Up Option
-------------------------------------------------------------
The Industrial Investment Bank of India (IIBI) is likely to be
wound up amid plans to revive the firm or merge it with other
sound institutions, The Financial Express reports.

The fate of IIBI, which stopped funding activity in 2003, will
be decided within two or three months.

IIBI Chairman and Managing Director ON Singh is scheduled to
make a presentation regarding IIBI's future to the government's
Planning Commission on Wednesday, October 26.

After considering all the aspects presented by Mr. Singh, the
government would then decided what it would do with IIBI.

Should the government agree to wind up the development financial
institution, it will have to shell out around INR1,000 crore.
The entire paid-up capital of INR446 crore is subscribed by the
government.

IIBI was earlier expected to merge with Industrial Development
Bank of India (IDBI). But the plan eventually hit a snag.

IIBI's collapse begun when the cost of funds went very high.
IIBI's networth had truned negative and thre no capital adequacy
of the lending institution.

A second round of voluntary retirement scheme (VRS) will be
offered to its existing 180 employees.

CONTACT:

Industrial Investment Bank of India Limited
10th Floor, Jeevan Prakash, 25 K.G. Marg,
New Delhi-110 001
Phone: 331 4774/2819, 371 5749/5751,
Fax : 335 7526

Earnest Hse, 11th Flr, 194 Nariman Pt,
Mumbai-400 021
Phone: 204 0361/204 0489/2725
Fax : 285 0134

Spencer Plaza, 7th Flr, 769 Anna Salai, Chennai-2
Phone: 852 1536, 852 4016, 852 4912
Fax : 852 4905

N 603, 6th Floor, Manipal Center, 47 Dickenson Road,
Bangalore-560 042
Phone: 559 7158/8001/8101/8181
Fax : 558 9836


RANBAXY LABORATORIES: Incurs US$2.38-Mln Loss in Q3
---------------------------------------------------
Ranbaxy Laboratories Limited booked an after-tax loss of
INR107.7 million (US$2.38 million) in the third quarter ended
September 30, 2005, according to Asia Pulse.

Ranbaxy Chief Executive Officer Brian Tempest attributed the
loss to continuing price deflation in the U.S. market, increased
Research and Development (R&D) spending, and litigation bills.

Mr. Tempest said the price deflation in the world's largest
pharmaceutical market, which started in the beginning of the
year, continued in the third quarter and was expected to
continue through the year.

Another main reason for the firm's poor performance in the third
quarter was the increased spending on R&D, which increased by 79
percent as against the same quarter last year. The company is
also involved in many litigations and it has impacted the
profitability as well.

"We have a budget of about US$30 million as litigation cost for
the year," Mr. Tempest said, adding that in the next year the
budget was expected to remain more or less the same.

CONTACT:

Ranbaxy Laboratories Ltd.
Plot No. 90, Sector 32
Gurgaon - 122001 (Haryana), India
Phone : +91-124-5135000
Fax : +91-124-5106490
E-mail: secretarial@ranbaxy.com
Web site: http://www.ranbaxy.com


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

BANK MANDIRI: Government May Postpone Stake Sale
------------------------------------------------
Unfavorable market conditions may force the Indonesian
government to postpone a planned stake sale in state-owned
lender PT Bank Mandiri, reports Reuters News.

According to Minister of State Enterprises Sugiharto, they will
discuss with the chief economic minister when to sell the
government's shares in the bank. Share prices are currently in
distress in the market, so it is not a good idea to proceed with
the sale at this time.

The government plans to sell a small percentage of its stake in
Bank Mandiri in order to achieve its target budget of IDR3.5
trillion for privatization, though it still intends to hold a
majority holding in the bank.

Higher interest rates, a declining local currency and inflation
have led to a 28% decline in Bank Mandiri's share price this
year.

CONTACT:

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


GARUDA INDONESIA: Government to Restructure Debt to Bank Mandiri
----------------------------------------------------------------
The Indonesian government is planning to restructure the debt of
state-controlled airline PT Garuda Indonesia to state lender PT
Bank Mandiri, Asia Pulse reports.

Minister for Economic Affairs Aburizal Bakrie has submitted a
letter to the Financial Sector Policy Committee seeking apporval
to extend the due dates of the Company's convertible bonds,
which are ,worth IDR1.31 trillion from 2004 to November next
year.

Even as Garuda's debts are classified as bad debts, which means
they cannot be paid with funds from abroad, the government can
negotiate with the Company, Bank Mandiri and Bank Indonesia, the
state central bank. Minister Bnakrie is optimistic that the debt
can be rescheduled since all firms involved belong to the
govnerment.

PT Garuda Indonesia posted a IDR421 billion net loss for the
first seven months of the year, despite posting profits in July.

CONTACT:

PT Garuda Indonesia
Garuda Indonesia Bldg.,
Jalan Merdeka Selatan No. 13
Jakarta, 10110, Indonesia
Phone: +62 21 231 0082
Fax:   +62 21 231 1679
Web site: http://www.garuda-indonesia.com


PERTAMINA: Slashes Next Month's Exports by 10%
----------------------------------------------
State oil and gas firm PT Pertamina lowered its export
allocations for next month by 10% to maintain adequte supply to
keep up with demand, as well as to lessen oil imports, reports
Reuters News.

The Company will supply 387,000 barrels of Jatibarang crude oil
to its Japanese affiliate, Pacific Petroleum Trading (PPT) for
next month, compared to the usual 60,000 barrels of Widuri crude
and 400,000 barrels of Jatibarang crude which were exported last
month.

The Indonesian government budget has been stretched by fuel
subsidies, forcing it to raise fuel prices in order to ease the
financial pressure. A local source is cited as saying that it is
too expensive to import crude oil/other fuel products, and
Pertamina must keep its crude oil supplies to keep up with local
demand.

Indonesia imports up tp 200,000 barrels of crude oil on a daily
basis, and has exported 366,000 barrels of crude oil this year,
about 6,000 barrels more that its crude imports.

CONTACT:

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


PERUSAHAAN LISTRIK: Signs Natural Gas Agreements
------------------------------------------------
State-owned power firm PT Perusahaan Listrik Negara (PLN) is
slated to sign gas sales agreements with two producers to supply
three power plnats in East Java and Kalimantan starting next
year, the Jakarta Post reports.

PT Medco Energi Mega Persada unit EMP Kangean Limited will sell
up to 150 million standard cubic feet per day of natural gas to
PLN, to increase supply to two power plants in East Java by
2007. The 15-year contrac is worth USD3 per million British
thermal unit (mmBtu).

The Company is slated to sign a gas sale agreement with local
gas producer PT Semco next week, where Semco would supply
between 15 million to 20 million standard cubic feet of natural
gas, beginning January 2006. The price is between USD2.8 per
mmBtu and USD# per mmBtu.

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
=========

ISHIKAWAJIMA-HARIMA INDUSTRIES: R&I Assigns BBB Rating
------------------------------------------------------
Rating and Investment Information Inc. (R&I) has assigned a
Long-term Issue Rating of BBB to Ishikawajima-Harima Industries
Co. Ltd. issue under the shelf registration scheme.

Ishikawajima-Harima Heavy Industries Co., Ltd. (IHI) is one of
Japan's major manufacturers of heavy industrial equipment. It
has an extensive track record and a high level of technological
expertise in distribution, steel structures, machinery, energy
plants, aerospace, shipping, and marine engineering.

However, a worsening in profits on major projects obtained under
highly competitive conditions for orders in Japan and overseas
has become conspicuous, and there are ongoing weakness in
earnings and deterioration in financial composition. Attention
should also be paid over the impact of the bridge bid-rigging
scandal on future orders and profits in its steel structure
business.

The company cannot be said to have a sufficient level of equity
capital, as it is seen in the deferred tax assets at the end of
the March 2005 period reaching nearly 50%. Consequently, the
company does not have an adequate risk buffer in the event of
large unexpected losses on a major project. The rating outlook
is negative.

CONTACT:

Ishikawajima-Harima Heavy Industries Co. Ltd.
Shin Ohtemachi Bldg.,
2-1, Ohtemachi 2-chome
Chiyoda-ku
Tokyo 100-8182, Japan
Phone: +81-3-3244-5111
Fax: +81-3-3244-5131


MEIJI YASUDA: President, Execs to Quit Over Scandal
---------------------------------------------------
Meiji Yasuda Life Insurance Co. said Friday that President
Ryotaro Kaneko and two other top executives would resign to take
the blame for a scandal involving its failure to pay insurance
claims, Japan Today reports.

An in-house investigation has uncovered a total of 1,034 cases
of nonpayment of insurance benefits over the past five years.

The Financial Services Agency will impose punitive measures on
the insurer, possibly next week, for the second time this year
in connection with the nonpayment cases.

CONTACT:

Meiji Yasuda Life Insurance Company
1-9-1 Nishi-Shinjuku, Shinjuku-ku
Tokyo 169-8701, Japan
Phone: +81-3-3342-7111
Fax: +81-3-3215-8123


MITSUBISHI FUSO: Introduces "Rosa" Light Bus
--------------------------------------------
Mitsubishi Fuso Truck Bus Corporation has launched an updated
"Rosa" light bus.

On sale now at Fuso Japan dealerships, the bus features all new
body colors and new seat fabric design. While maintaining the
high performance of the existing model, the new "Rosa" provides
customers with an updated and attractive appearance. It also
complies with the revised lamp regulations, effective in January
2006.

Product Outline

(1) Updated image
Introduction of new colors for body:
The new Rosa offers all new colors for both two-tone and
monotone body color. Two new monotone colors were added for DX,
SA and school bus body color, including a soft image for the
school bus.


Introduction of new design for seat:
Bright interior of fine quality with print knit fabric of new
pattern for custom G, custom, CX-L, and CX, and plastic leather
fabric of new pattern for SA, DX and school bus.


Standard equipment (CX) of swing door (manual)

(2) Compliance with regulations
Just like existing Rosa models, the new bus complies with the
new short-term emission control
It is also certified as extremely low emission diesel vehicle
(level three: 75% reduction).

Compliance with the revised lamp regulation:

The new bus complies with the revised lamp regulation to be
enforced in January 2006.

(3) Improved safety
Door open warning light (driver seat/swing door) to be displayed
within the meter cluster:

This allows the driver to easily check the door opening/closing.


Non-slip tape to be applied at the edge of the first step for
buses with folding door:

Slip resistance effect and highlighted step edge to improve
safety when getting on and off the bus.

(4) Improved loading

Optional electric auxiliary step for entrance steps:

With considerations for elderly and children, the new bus adopts
an electric auxiliary step and middle step for smooth and safe
passenger loading (optional for some models).

Optional handrail on both sides of bus entrance:

The new bus offers handrails on both side of bus entrance in
conjunction with the electric auxiliary step. This also
contributes to easy and safer passenger loading (optional for
some models).

(5) Recyclability

For easier recycling, the operation system for the seat belt
pre-tensioner was shifted from mechanical to electric.

(6) Other features

Standard equipment of driver seat armrest for all models:

In response to numerous customers' requests, all models will
have driver's armrest as standard equipment.

Release date

Friday, October 21 at Mitsubishi Fuso dealers nationwide in
Japan

CONTACT:

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


MITSUBISHI MOTORS: Wins Scottish Sports Car of the Year
-------------------------------------------------------
The Association of Scottish Motoring Writers has voted the
Mitsubishi Lancer Evolution IX as Sports Car of the Year 2005.
Mitsubishi Motors was also short-listed in two other categories
with the Colt CZT and the new Grandis Diesel.

Commenting on Mitsubishi's award, President of the Scottish
Association, Ally Ballingall, stated, "This mighty machine can
sprint to 62mph in less than five seconds yet this supercar
costs less than 28,000. But what makes our choice so genuinely
special is the way it mixes competition breeding with
practicality."

This is the second successful year for Mitsubishi at the
Scottish Car of the Year awards with the Grandis winning the MPV
title and the Evolution VIII the Sports Car category in 2004.

On receiving news of the accolade, Mitsubishi Motors UK's
Managing Director Jim Tyrrell commented, "To win this category
last year with the VIII and this year with the Lancer Evolution
IX is testament that with every generation of this vehicle it
just gets better each time, it is the ultimate sporting saloon."

On sale since June 1, the Lancer Evolution IX boasts a plethora
of detail improvements that enhance the `Evo's' reputation as
the everyday supercar.

CONTACT:

Mitsubishi Motors Corporation
Address:  2-16-4 Konan, Minato-ku
Tokyo 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014


MITSUBISHI MOTORS: Unveils Production Figures for 1H/2005
---------------------------------------------------------
Mitsubishi Motors Corporation (MMC) on Monday announced global
production, along with domestic sales and export results for
September 2005 and for the first half of fiscal year 2005.

September 2005

Total global production totaled 126,083 units, a 6.3 percent
increase from the year ago period. Domestic production came to
66,425 units, a strong year-on-year increase of 29.1 percent.

Domestically, total vehicle sales were 26,951 units, 128.8
percent of year ago levels. The Japanese market has now seen
five consecutive months of year-on-year unit volume growth.
Total sales for passenger cars came to 18,716 units, 130.7
percent of last year's volume, while the figure for commercial
vehicles was 8,235 units, 124.8 percent year-on-year.

Overseas production in September fell 11.2 percent year-on-year
to 59,658 units. By region, in North America production totaled
8,763 units, a 35.7 percent increase from the year ago period.
Europe saw production fall 38.5 percent year-on-year to 7,657
units, and the figure for Asia was 40,017 units, an 8.8 percent
decline from September 2004.

Exports from Japan totaled 38,307 units, 112.9 percent of last
year's level. Exports to North America were 4,570 units, 121.7
percent year-on-year, and figures for Europe nearly doubled to
14,852 units, 194.8 percent of the year ago figure. Exports to
Asia came to 2,246 units, 44.5 percent of the September 2004
total.

Fiscal Year 2005, First-Half

In the first six months of fiscal year 2005, April through
September, total global production came to 669,571 units, 96.3
percent of the total for the first half of fiscal year 2004.
Domestic production was 316,670 units, 111.5 percent of year ago
levels.

First half domestic vehicles sales totaled 107,421 units, a
steady 12.0 percent rise year-on-year. Passenger cars volume
came to 69,774 units, up 14.6 percent from last year's levels,
and commercial vehicles saw a 7.6 percent year-on-year rise to
37,647 units. Domestic market share for the term was 4.0
percent.

Production in North America fell to 44,543 units, a drop of 24.1
percent from the year ago period. Exports to the North American
market were 21,619 units, a rise of 6.2 percent year-on-year. In
Europe exports totaled 65,904 units, 112.8 percent of levels for
the first half of fiscal year 2004. European production came to
34,575 units, 64.4 percent of year ago figures. In Asia, exports
from Japan fell to 18,789 units, 53.4 percent year-on-year.
Production in Asia totaled 250,064 units, down 8.1 percent from
the year ago period.

This is a company press release.


PIONEER CORPORATION: Expects FY05 JPY24-Bln Loss
------------------------------------------------
Pioneer Corporation sees a group net loss of JPY24 billion for
the current business year to March 2005, Japan Today reports.

The electronics maker also expects a group pretax loss at JPY28
billion instead of an earlier forecast of JPY7.5 billion profit
as sales have been revised downward to JPY770 billion from
JPY810 billion.

Pioneer attributed these downward revisions to a projected
decline in sales of home electronics products such as plasma
displays and DVD recorders in the second half of the year.

CONTACT:

Pioneer Corporation, Tokyo
Phone: +81-3-3494-1111
Fax: +81-3-3495-4431
Web site: http://www.pioneer.co.jp/ir-e/


SANYO ELECTRIC: To End Household Appliance Production
-----------------------------------------------------
Sanyo Electric Co. plans to stop making household appliances
such as refrigerators and washing machines as part of its
restructuring scheme, according to Japan Today.

Company executives have entered the last stage of deciding on
the closure of household appliance factories in Japan and other
Asian countries, and starting to purchase such items from other
makers, possibly in China or Taiwan, for sale under Sanyo
brands.

The ailing consumer electronics maker wants to focus its
business resources on what it considers more promising fields,
such as solar cells.

CONTACT:

Sanyo Electric Co. Ltd.
5-5 Keihan-Hondori, 2-chome
Moriguchi, Osaka 570-8677, Japan
Phone: +81-6-6991-1181
Fax: +81-6-6991-2086


SEIBU RAILWAY: Japan Prosecutors Seek Harsher Penalties for Exec
----------------------------------------------------------------
Japanese prosecutors demanded Yoshiaki Tsutsumi, the former
president of Seibu Railway and once the world's richest man,
serve a three-year prison sentence and pay a Y5M fine for
insider trading and falsifying financial statements, FT.com
reports.

In October 2004, the railway announced that it would fall under
the "delisting criteria" of the Tokyo Stock Exchange, and
revealed its long-time practice of falsifying its financial
statements. More than 200 shareholders in the Company filed a
class actions suit, seeking about 350 million yen ($3.4 million)
in damages against the railway, its parent Kokudo Corporation
and former top executives, including Mr. Tsutsumi, an earlier
Class Action Reporter story (February 3,2005) reports.

The attorneys for the plaintiffs also filed a criminal complaint
with the Tokyo District Public Prosecutor's Office against the
railway, Mr. Tsutsumi, and former Seibu Railway Presidents
Terumasa Koyanagi and Hiroyuki Toda on suspicion of falsifying
financial statements, which is in violation of the Securities
and Exchange Law. In their suit, the plaintiffs accuse Mr.
Tsutsumi and other former Seibu Railway executives of misleading
shareholders and asked that "they should be held responsible for
committing an illegal act of falsification." The suit states
that the maximum amount sought by each shareholder is 20 million
yen.

In Tokyo District Court on Friday, prosecutors argued that the
stiff penalties reflected the "leading role" Mr. Tsutsumi played
in the "unprecedented, vicious, economic crime that was
systematically committed by a leading conglomerate in Japan,"
according to media reports. (Class Action Reporter, October 24,
2005 Vol. 7, No. 210)


TOSHIBA CORPORATION: To Upgrade Chip Capital Spending to US$1.95
----------------------------------------------------------------
Toshiba Corporation plans to raise semiconductor-related capital
investment this year by 33 percent from its initial budget to
JPY225 billion, Japan Today reports.

The move was aimed at boosting production of high-capacity flash
memory chips.

With demand for the chips surging, the company believes the
market will grow at between 20 and 40 percent annually to
surpass JPY2 trillion by 2008.

CONTACT:

Toshiba Corporation
Keisuke Ohmori,
Phone: +81-3-3457-2105
Web site: http://www.toshiba.co.jp/contact/media.htm


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

ASIANA AIRLINES: Suffers Losses in 3Q
-------------------------------------
Asiana Airlines posted a net loss of KRW52.1 billion in the
July-September period, attributed to decreased sales and high
fuel costs, according to Asiana Pulse.

A year earlier, Asiana posted a net profit of KRW60.6 billion.
The carrier's sales fell 8.2 percent from a year ago to KRW742
billion.

Asiana booked a net operating loss of KRW12 billion, a shift
from an operating profit of KRW69.9 billion, a year earlier.

The pilots' strike caused third-quarter sales to drop by KRW66
billion from a year earlier, while fuel costs surged 46.3 per
cent, the airline said.

CONTACT:

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


JINRO BALLANTINES: To Merge with Pernod Ricard Korea
----------------------------------------------------
Jinro Ballantines Co. (JBC) confirmed its merger with Pernod
Ricard Group, Yonhap News reveals.

Pernod Ricard acquired JBC's parent company Allied Domecq in
July.  JBC was a result of a joint venture between Britain-based
Allied Domecq, with 70 percent holdings and South Korea's Jinro
Ltd., which sold its 30 percent stake to a consortium led by
Hite Brewery Co. and bought Jinro in June.

According to JBC President David Lucas Lucas, Pernod Ricard will
have to wait until the Hite-led consortium takes a position on
its stake in JBC.

When the merger takes place, Mr. Lucas eyes massive layoffs in
JBC, however, restructuring would proceed through consultations
with its labor union.

Jinro's financial troubles have led to the sale of its joint
venture operations -- JBC to Allied Domecq and Jinro Coors to
Belgian brewing company InBev.

Jinro was under court receivership for two years until last
month, after amassing debts of more than KRW2 trillion (US$1.9
billion).


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

AKTIF LIFESTYLE: Awaits SC Approval of Restructuring Scheme
-----------------------------------------------------------
Aktif Lifestyle Corporation Berhad (Aktif) issued to Bursa
Malaysia Securities Berhad an update to the Status of Proposal
Pursuant to Section 5.1(b) of the Practice Note No. 10/2001
(PN10) of the Listing Requirements of Bursa Malaysia.

The Requisite Announcement as required under PN10 was made to
Bursa Securities on June 1, 2005 by the Company's adviser,
Avenue Securities Sdn Bhd (Avenue), for and on behalf of the
Company.

As announced on August 16, 2005, the Company, Integrated M & G
Industries Berhad (IMG), Teh Li Li and Dato' Mohamed bin Jamrah
(Vendors of Mahawira Sdn Bhd) and Amarjit Singh a/l Kartar
Singh, Balveer Kaur a/p Tahil Singh and Kiranjit Singh a/l
Amarjit Singh (Vendors of Citatah AMS Marble Sdn Bhd [Citatah])
had entered into supplemental restructuring agreements and sale
and purchase agreements on August 15, 2005 to revise certain
terms of the Proposed Restructuring Scheme.

On even date, IMG and the vendors of Citatah had also entered
into a profit guarantee agreement pursuant to the Proposed
Acquisition of Citatah.

As announced on August 17, 2005, the application in relation to
the Proposed Restructuring Scheme was submitted to the
Securities Commission (SC) on August 16, 2005 for their
approval.

As announced on October 3, 2005, the conditional approval from
the Ministry of International Trade and Industry (MITI) was
obtained on September 30, 2005. The approval from MITI is
subject to the approval of the SC and compliance with the
Foreign Investment Committee's Guideline on the Acquisition of
Interest, Mergers and Takeovers by Local and Foreign Interests.
Further to the said approval, Mahawira Sdn Bhd is also required
to comply with the equity condition stipulated in its
manufacturing licence within three (3) years from the date of
MITI's approval letter.

The Company is presently still waiting for approval from SC on
the Proposed Restructuring Scheme.

This announcement is dated 21 October 2005.

CONTACT:

Aktif Lifestyle Corporation Berhad
Level 10, Grand Seasons Avenue, No. 72,
Jalan Pahang, 53000 Kuala Lumpur
Malaysia
Phone: (60) 3 2693 1828
Fax: (60) 3 2691 2798


AKTIF LIFESTYLE: Net Loss Narrows in 2Q/FY05
--------------------------------------------
Aktif Lifestyle Corporation Bhd furnished Bursa Malaysia
Securities Berhad a copy of its Second Quarter Financial Report
for the financial period ended August 31, 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
    31/08/2005    31/08/2004      31/08/2005     31/08/2004
    MYR'000       MYR'000     MYR'000        MYR'000

(1) Revenue

    43            9,961           61             36,617

(2) Profit/(loss) before tax

    -69           59,135          -225           54,507


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

    -69           59,192          -225           54,564

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

    -69           59,192          -225           54,564

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

    -0.34         289.04          -1.10          266.44

(6) Dividend per share (sen)

    0.00         0.00             0.00           0.00

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

(7) Net tangible assets per share (MYR)

        0.1000                     0.1100

To view a full copy of the Financial Statement, click
http://bankrupt.com/misc/AktifLifestyle102105.xls

Click to view a full copy of the Notes to FS
http://bankrupt.com/misc/AktifLifestyleNotes2ndQuarter2006.doc


AMSTEEL CORPORATION: Undertakes Shares Sale
-------------------------------------------
Amsteel Corporation Berhad issued to Bursa Malaysia Securities
Berhad details of the Renounceable Restricted Offer for sale of
up to 67,613,573 ordinary shares of MYR1.00 each in Amsteel
Corporation Berhad (ACB) (ROFS Shares) by LCB to the eligible
shareholders of ACB at the offer price of MYR1.00 per ROFS share
payable in full upon acceptance, on the basis of 964 ROFS shares
for every 10,000 ACB shares held (ROFS).

The company advised of the following:

(1) The above Company's securities will be traded and quoted
(Ex-Offer) as from: (November 10, 2005).

(2) The last date of lodgement: (November 14, 2005)

(3) Retention Money:

Where securities are not delivered in time for registration by
the seller, then the brokers concerned:

(a) Selling Broker to deduct (0.0964/1.0964), of the Selling
Price against the Selling Client.

(b) Buying Broker to deduct (10 percent) of the Purchase Price
against the Buying Client.

(c) Between Broker and Broker, the deduction of (0.0964/1.0964)
of the Transacted Price is applicable.

CONTACT:

Amsteel Corporation Bhd
Malaysia
Phone: 60 3 2162 2155
Fax: 60 3 2164 1036
Web site: http://www.lion.com.my


ANCOM BERHAD: Buys Back Ordinary Shares
---------------------------------------
Ancom Berhad issue to Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:

Date of buy back: October 21, 2005

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

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

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

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

Total consideration paid (MYR):

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

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

Cumulative net outstanding treasury shares as at to-date
(units): 15,520,700

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

CONTACT:

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


FOREMOST HOLDINGS: Unveils Directors Dealing in Securities
----------------------------------------------------------
Foremost Holdings Berhad informed Bursa Malaysia Securities
Berhad (Bursa Securities) that pursuant to Paragraph 14.08 of
the Bursa Securities Listing Requirements, a Director, Mr. Ng
Kim Weng had given notice informing the Company of his intention
to deal in FORMOST's shares during closed period. The details of
his current shareholdings is as follows:

No. of FORMOST's shares held by Ng Kim Weng:

Direct: 226,059 ordinary shares of RM1.00 each

% (Direct): 0.43%

Deemed: Nil

% (Deemed): 0

This announcement is dated 21 October 2005.


FOUNTAIN VIEW: Issues New Shares for Listing, Quotation
-------------------------------------------------------
Fountain View Development Berhad advised that its additional
97,000 new ordinary shares of MYR1.00 each issued pursuant to
the conversion of 97,000 Redeemable Convertible Unsecured Loan
Stocks 2003/2006 into 97,000 new ordinary shares will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Tuesday, October 25, 2005.


FURQAN BUSINESS: Directors Send Out Letter of Demand
----------------------------------------------------
Furqan Business Organisation Berhad (FBO) issued to Bursa
Malaysia Securities Berhad details of the profit guarantee by
the vendors of Eastern Biscuit Factory Sdn. Berhad.

Further to the Company's announcement on October 20, 2005, the
Board of Directors of the Company informed that Letters of
Demand have been sent to each of the vendors of Eastern Biscuit
Factory Sdn. Bhd., namely Dato' Tan Kok Hwa, Teong Hoe Holding
Sdn. Bhd. and Forad Management Sdn. Bhd., on October 21, 2005 to
recover the profit guarantee shortfall of MYR6,392,562.

CONTACT:

Furqan Business Organisation Berhad
247 Jalan Tun Razak
Kuala Lumpur 50400
Malaysia
Phone: +60 3 2148 9999
Fax: +60 3 2148 9992


KEMAYAN CORPORATION: Books MYR27,674,000 Net Loss
-------------------------------------------------
Kemayan Corporation Bhd furnished Bursa Malaysia Securities
Berhad a copy of its unaudited First Quarter financial report
for the financial period ended August 31, 2005.

Summary of Key Financial Information
August 31, 2005

        Individual Period              Cumulative Period
    Current Year  Preceding Year  Current Year   Preceding Year
    Quarter       Corresponding   to Date        Corresponding
                  Quarter                        Period
    31/08/2005    31/08/2004      31/08/2005     31/08/2004
    MYR'000       MYR'000     MYR'000        MYR'000

(1) Revenue

    1,751         1,508           1,751          1,508

(2) Profit/(loss) before tax

    -27,474       -27,145         -27,474        27,145

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

    -27,674       -27,335         -27,674       -27,335

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

    -27,674       -27,335         -27,674       -27,335

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

    -7.59          -7.50          -7.59          -7.50

(6) Dividend per share (sen)

    0.00           0.00            0.00          0.00

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

(7) Net tangible assets per share (MYR)

        -4.5400                    -4.4700

To view a full copy of the Financial Statement, click
http://bankrupt.com/misc/KemayanCorpAug05announce.xls

Click to view a full copy of the notes to FS
http://bankrupt.com/misc/KemayanCorporation102105.doc

CONTACT:

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


MAGNUM CORPORATION: Bourse to List, Quote New Shares
----------------------------------------------------
Magnum Corporation Berhad informed that its additional 188,000
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 25, 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


MAGNUM CORPORATION: Buys Back 221,800 Shares
--------------------------------------------
Magnum Corp. Berhad furnished Bursa Malaysia Securities Berhad a
notice of shares buy back with the following details:

Date of buy back: October 21, 2005

Description of shares purchased: Ordinary shares of MYR0.50 each

Total number of shares purchased (units): 221,800

Minimum price paid for each share purchased (MYR): 1.970

Maximum price paid for each share purchased (MYR): 2.000

Total consideration paid (MYR):

Number of shares purchased retained in treasury (units): 221,800

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

Cumulative net outstanding treasury shares as at to-date
(units): 68,546,700

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

CONTACT:

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


MAXIS COMMUNICATIONS: Director Disposes of Securities
-----------------------------------------------------
Maxis Communications Berhad (Maxis) having received a
notification on October 21, 2005 pursuant to Paragraph 14.09(a)
of the Listing Requirements from Mr. Gregory John Drayton,
(deemed as a Principal Officer of the Company for the purpose of
Chapter 14 of the Listing Requirements), notified Bursa
Securities of his dealings in the securities of the Company as
set out below:

The disposal of 75,000 ordinary shares of MYR0.10 each
(representing 0.003 percent of the issued share capital) at
MYR9.50 each on October 12, 2005.

Mr. Gregory John Drayton holds 100,000 ordinary shares MYR0.10
each in the Company after the Disposal.

This announcement is dated 21 October 2005.

CONTACT:

Maxis Communications Bhd
Level 18, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
Malaysia
Phone: 03-23307000
Fax: 03-2330059


OILCORP BERHAD: Inks MoU with PT Energi
---------------------------------------
Oilcorp Berhad issued to Bursa Malaysia Securities Berhad
details of the Memorandum of Understanding (MOU) between Oilcorp
and PT Energi Utama (Energi Utama).

The Board of Directors of Oilcorp Berhad (Oilcorp) advised that
Oilcorp had on October 21, 2005 entered into an MOU with Energi
Utama in Indonesia to invest in various projects in Indonesia.

The signing of the MOU was witnessed by representatives from
both the Foreign Ministry of Malaysia and the Foreign Ministry
of Indonesia.

The MOU sets out Oilcorp's interest to invest in Indonesia,
particularly in the oil and gas (both upstream and downstream
activities) sector, power generation sector and any other
projects and opportunities. These investments will be undertaken
either on Build, Operate and Transfer (BOT), Build, Own and
Operate (BOO), Turnkey, Design and Build (TDB) and/or others.

The role of Energi Utama (a company associated with Parti
Demokrat Indonesia) is to jointly cooperate with Oilcorp to
invest in various projects in Indonesia.

In addition, both Oilcorp and Energi Utama will also jointly,
amongst others, assist Indonesia in improving its bilateral
trade relationship with Malaysia, bringing in foreign direct
investments, improving the economic growth, improving the
infrastructure and utilities, creating new job opportunities,
and transferring of technology and expertise to Indonesia. These
initiatives will be undertaken with local Indonesian joint-
venture partners, where necessary.

With the MOU signed, Oilcorp will be able to penetrate into
Indonesia. The collaboration will also allow Oilcorp to tap
into, amongst other, the advanced technical expertise and know-
how of Indonesia in deep-sea fishing, which is timely
considering the recent offer by the Ministry of Agriculture and
Agro-Based Industry of Malaysia to Oilcorp to spearhead the
national fisheries project.

Nevertheless, Oilcorp is keen to invest into the Indonesian oil
and gas and power generation industry, which if successful, will
provide Oilcorp with a steady stream of recurring income.

This announcement is dated 21 October 2005.

CONTACT:

Oilcorp Berhad (553069-T)
No. 2-2, Jalan SS 6/6,
Kelana Jaya, 47301 Petaling Jaya,
Selangor Darul Ehsan, Malaysia
Telephone: 603 7804 4843
Fax: 603 7804 6212
E-mail: info@oilcorp.com.my


PACIFIC & ORIENT: Issues Notice of Shares Buy Back
--------------------------------------------------
Pacific & Orient Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:

Date of buy back from: October 7, 2005

Date of buy back to: October 20, 2005

Total number of shares purchased (units): 126,300

Minimum price paid for each share purchased (MYR): 1.780

Maximum price paid for each share purchased (MYR): 1.820

Total amount paid for shares purchased (MYR): 229,963.25

The name of the stock exchange through which the shares were
purchased: Bursa Malaysia Securities Berhad

Number of shares purchased retained in treasury (units): 126,300

Total number of shares retained in treasury (units): 7,584,589

Number of shares purchased which were cancelled (units): 0

Total issued capital as diminished:

Date lodged with registrar of companies: October 21, 2005

Lodged by: Pacific & Orient Berhad

CONTACT:

Pacific & Orient Bhd
11th Floor, Wisma Bumi Raya,
No 10, Jalan Raja Laut,
PO Box 10953,
Kuala Lumpur Wilayah
Persekutuan 50730
Malaysia
Telephone: 03-26985033
Fax: 03-26944209


POS MALAYSIA: New Shares Up for Listing, Quotation
--------------------------------------------------
POS Malaysia & Services Holdings Berhad informed that its
additional 103,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employee Share Option Scheme will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Tuesday, October 25, 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


PUNCAK NIAGA: Summary Judgment Hearing Moved to November 24
-----------------------------------------------------------
Puncak Niaga Holdings Berhad (416087 U) (Puncak) provided Bursa
Malaysia Securities Berhad with an update on Kuala Lumpur High
Court Civil Suit No. S2-22-725-2005 (Premier Ayer Sdn Bhd versus
Perbadanan Urus Air Selangor Berhad).

Reference is made to Puncak's earlier announcement dated
September 30, 2005 in relation to the abovementioned legal suit.

The company informed the Exchange that the plaintiff's
application for Summary Judgment scheduled for hearing on
October 20, 2005 has been postponed by the Court to November 24,
2005.

This announcement is dated 21 October 2005.

CONTACT:

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


TELEKOM MALAYSIA: Gets Approval to Purchase Mobile One Shares
-------------------------------------------------------------
Telekom Malaysia Berhad (TM) furnished Bursa Malaysia Securities
Berhad details of the joint venture between TM Group and
Khazanah Nasional Berhad (Khazanah) for the proposed acquisition
of shares in Mobileone Ltd (M1).

The company refers to its announcements dated August 17, 2005
and September 23, 2005.

On behalf of TM, it was announced that the Info-comm Development
Authority of Singapore has approved the proposed acquisition by
SunShare Investments Ltd, TM, TM International Sdn Bhd and
Khazanah of an ownership interest of at least 12 percent but
less than 30 percent in M1.

This announcement is dated 21 October 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
=====================

ATLAS CONSOLIDATED: Off-take Deals Still Hanging
------------------------------------------------
Atlas Consolidated Mining and Development Corporation has yet to
sign off-take agreements for the expected output of
Toledo/Carmen copper mine, Metals Place reveals.

The company confirmed that off-taking was one of the schemes the
company would tap into to raise the necessary funds to
rehabilitate the Toledo/Carmen copper mine in Cebu, Philippines,
which will be rehabilitated starting next year.

Meanwhile, the Mines and Geosciences Bureau of the Department of
Environment and Natural Resources of the Philippines had said in
an earlier report that Atlas, through its subsidiary Carmen
Copper, was finalizing various financial arrangements for the
proposed reopening of the US$171-mil Toledo copper project. The
project is Asia's former biggest copper mine located in Toledo
City, Cebu.

The miner is reportedly planning to resume operations at
42,000mt/day, with rehabilitation works scheduled to start
within this year.

CONTACT:

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


BAYAN TELECOMMUNICATIONS: Lets Go of RCPI; Retains Western Union
----------------------------------------------------------------
Lopez-led Bayan Telecommunications Inc. (BayanTel) is divesting
its remittance operations business, according to BusinessWorld.

The telco will sell the retail operations of Radio
Communications Philippines Inc. (RCPI) in order to plug a hole
on the heavy cash requirements the parent company doles out for
the unit. BayanTel, however, will retain the franchise from
global remittance channel Western Union.

BayanTel said it expects to finalize the sale of RCPI's
storefront business by year-end. Although the remittance
business is making money on continued growth of overseas
Filipino workers, BayanTel explained it is cash-intensive, which
makes it difficult for the parent to improve its revenue stream.

RCPI, which makes at least Php500 million annually, provides
remittance, telegraph and other communications services to
mostly relatives of the more than eight million Filipinos
abroad.

BayanTel, the fixed-line phone unit of Benpres Holdings Corp.
has been on rehabilitation with US$325 million in debt.

CONTACT:

Bayan Telecommunications Inc.
Investor Relations
3/F BayanTel Corporate Center
Maginhawa corner Malingap Streets
Teacher's Village East, Diliman
Quezon City 1101, Philippines
Fax: (632) 449-2174
Web site: http://www.bayantel.com.ph


EVER GOTESCO: Filing of Petition for Review Gets Nod
----------------------------------------------------
In compliance with the full disclosure rules, please be informed
that in the Special Meeting of the Board of Directors of Ever
Gotesco Resources and Holdings, Inc. attended by a majority of
the members of the Board of Directors, held this noon, October
21, 2005 at the Board Room of Ever Gotesco Corporate Center,
1958 C. M. Recto, Avenue, the Board of Directors passed and
approved the following resolutions:

"RESOLVED, that the Board of Directors of the Corporation hereby
authorizes and empowers JOSE C. GO, to cause the filing of a
Petition for Review on Certiorari under Rule 45 of the Rules of
Court before the Supreme Court against Philippine National Bank
et.al. to assail the Decision dated October 1, 2004 docketed as
G.R. No. 169545 and Resolution dated September 6, 2005 of the
Court of Appeals in CA-GR CV No. 72975;

"RESOLVED FURTHER, to authorize and empower JOSE C. GO to sign
and execute the Verification/Certification for and in behalf of
the Corporation relative to the aforementioned case as well as
to implement its terms and conditions;

"RESOLVED, FINALLY, that the Corporate Secretary is hereby
authorized to issue the needed Board Resolutions and provide
those concerned with copies thereof."

CONTACT:

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


NATIONAL POWER: Sale Up 45.3% in First Half
-------------------------------------------
State-owned National Power Corporation (Napocor) saw its first
half energy sales revenue soar 45.3 percent to Php62.3 billion
from Php42.87 billion in the same period last year, reports The
Philippine Daily Inquirer.

The revenue growth was attributed to the Energy Regulatory
Commission's approval of the state firm's rate hike petition in
April, which resulted in a rate adjustment of 36.25 centavos per
kilowatt-hour.

The Luzon grid, although posting a 2.7-percent drop in GWh
sales, accounted for the bulk of the first half sales revenue at
Php50.16 billion, a 44.6-percent jump from last year's Php34.68
billion.

The Mindanao grid raked in Php7.55 billion, rising 80.1 percent
from the Php4.19 billion posted the year before. The Visayas
grid contributed Php6.67 billion, up 20.5 percent from 2004's
Php5.54 billion.

Napocor's total energy sales in the first half reached 17,105.42
GWh, down 1 percent from year-ago's 17,884.04 GWh.

Sales to the Luzon grid dropped to 11,218.42 GWh in the first
semester from 11,503.04 GWh last year. The slight decline was
attributed to lower sales to the Lopez-led Manila Electric Co.,
which accounted for around 70 percent of the state firm's sales
in the Luzon grid and half of total sales nationwide.

In the first six months of the year, Meralco purchased only
7,069.00 GWh from Napocor, down 5.4 percent from the 7,468.42
GWh it bought in the same period last year.

CONTACT:

National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax: +63-2921-2468


PACIFIC PLANS: Justifies Rehabilitation Petition
------------------------------------------------
Beleaguered pre-need firm Pacific Plans Inc. (PPI) on Friday
justified its petition for rehabilitation, The Philippine Daily
Inquirer relates.

PPI President Alfredo Non said the petition it filed with the
Makati Regional Trail Court is a legal means to revive its
operations and not a tool to avoid liability.

Mr. Non pointed out that even with recent negative developments,
PPI had refrained from invoking the "fortuitous
event/impossibility" provision in its plan holders' policy
contracts, which he said would have given it a reason to exit
from its contracts with plan holders.

PPI earlier sough debt reprieve as it foresees the impossibility
of meeting future claims of its over 34,000 planholders owing to
rising tuition costs.

But a group of PPI clients who called themselves the Parents
Enabling Parents Coalition Inc. (PEPCI) urged the Securities and
Exchange Commission (SEC) to shelve Pacific Plans license
petition on the ground that there is a valid and existing
suspension of payments order against the pre-need firm.

PEPCI also said Pacific Plans was found to have been guilty of
fraud in its transactions prior to and in connection with its
dealings, which resulted to the filing of the petition for
rehabilitation in the court.

The SEC said there is no need for Pacific Plans to undergo
corporate rehabilitation as its financial statements show it is
solvent and liquid. The watchdog said Pacific Plans had a total
net worth of Php657.84 million and Php119.08 million as of end-
December 2004 and March 31, 2005, respectively.

CONTACT:

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


VICTORIAS MILLING: New Director Joins Board
-------------------------------------------
The Board of Directors of Victorias Milling Company Inc., during
its meeting on October 21, 2005 held at the Victorias Milling
Co., Inc. Makati Office, elected Mr. Armando A. Samia as
Director/Member of the VMC Board of Director to fill the vacancy
created by Mr. Renato A. Castillo's resignation during the last
meeting of August 25, 2005.

CONTACT:

Victorias Milling Co. Inc.
9126 Sultana cor. Honradez Sts.
Barangay Olympia, Makati City
Phone No/s: 896-0381; 899-0485
Fax No/s: 895-4150
E-mail Address: fal@philonline.com
Web site: http://www.victoriasmilling.com


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

FIRSTLINK INVESTMENTS: Passes All EGM Resolutions
-------------------------------------------------
Firstlink Investments Corporation Limited announces that the
Company passed its ordinary resolutions as proposed in its
notice of Extraordinary General Meeting (EGM) dated Oct. 7, 2005
at its EGM held on Oct. 22, 2005.

By Order of the Board

Ling Yew Kong
Executive Chairman
Oct. 22, 2005

To view the ordinary resolutions passed, go to:

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

CONTACT:

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


INTERNOC SINGAPORE: Receiving Proofs of Claims Until November 4
---------------------------------------------------------------
Internoc Singapore Pte Limited, of 10 Dundee Road, #06-01 Setron
Building, Singapore 149455, posted a notice of intended dividend
at the Government Gazette, Electronic Edition with the following
details:

Name of Company: Internoc Singapore Pte Limited
Last day for receiving proofs: Nov. 4, 2005
Name  & address of Liquidator: Winston Loong Sie Yoke
140 Robinson Road
#06-03 Chow House
Singapore 068907

Dated: Oct. 20, 2005


NATSTEEL LIMITED: Unit Sells Shares to Sister Firm
--------------------------------------------------
Natsteel Limited announced that its wholly owned subsidiary, NSL
Engineering Pte Ltd (formerly known as NatSteel Engineering Pte
Ltd) (NSE) sold its 8,810,154 shares in Soon Douglas (Pte) Ltd
(SD) to Eastern Industries Private Limited (EI), another wholly
owned subsidiary of NATSTEEL, for a total consideration of SGD2
million on a willing buyer and willing seller basis.

EI will further subscribe for 1,064,426 ordinary shares at par
value of SGD1.00 per share in the share capital of SD (the
"Transaction"). Upon completion of this Transaction, the equity
stake of EI in SD will be 67.7%, and SD will remain a subsidiary
of the Company.

Soon Douglas (Pte) Limited's principal activities are leasing
and sale of industrial and construction machinery and equipment.
SD has a net tangible liability value of SGD6,610,000 as of Aug.
31, 2005 due to a write down in value of its fixed assets.

The shares transfer is not expected to affect the Company's
earnings per share/net tangible assets in any way.

By Order of the Board

Lim Su-Ling
Company Secretary
Oct. 21, 2005

CONTACT:

Natsteel Limited
77 Robinson Road
#27-00 SIA Building
Singapore 068896
Phone: 65 6536 1000
Fax:   65 6536 1008
Web site: http://www.nsl.com.sg/


NH CERAMICS: Auditors OK Full-Year Financial Results
----------------------------------------------------
NH Ceramics Limited announced that the Company's auditors, Ernst
& Young, have completed their audit on its financial statements
for the year ended June 30, 2005, and report the following:

a) That the Company's consolidated financial statements of the
Group and balance sheet were properly drawn up, in accordance
with the provisions of the Singapore Companies Act and Singapore
Financial Reporting Standards, so as to give a true and fair
view of the state of affairs of the Group and of the Company as
at June 30, 2005 and the results, changes in equity and cash
flows of the Group for the financial year ended on that date;
and

(b) the accounting and other records required by the Act to be
kept by the Company and by those subsidiary companies
incorporated in Singapore of which Ernst & Young are the
auditors have been properly kept in accordance with the
provisions of the Act.

The Company incurred a net loss of SGD4.99 million for the
financial year ended June 30, 2005.

To view the Company's auditor report, click on:

http://bankrupt.com/misc/tcrap_nhceramics102405.pdf

CONTACT:

NH Ceramics Limited
1 & 3 Tuas Ave.
8 Jurong Industrial Estate
Singapore 639217
Phone: 65 6861 2626
Fax:   65 6861 4023
Web site: http://www.namhuat.com.sg/


TWK SKILL: Court Orders Winding Up
----------------------------------
Notice is hereby given that on Oct. 7, 2005, the Singapore High
Court ordered the winding up of TWK Skill Engineering Works Pte
Limited, and Chen Yeow Sin, care of LTC & Associates was
appointed as the Liquidator of the Company.

Dated this 11th day of October 2005

Chen Yeow Sin
Liquidator
LTC & Associates
1 Raffles Place
#20-02 OUB Centre
Singapore 048616


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

ABICO HOLDINGS: Details Progress of Rehab Plan
----------------------------------------------
Abico Holdings Public Co. Ltd. issued to the Stock Exchange of
Thailand (SET) a progress report of its rehabilitation plan from
April 2005 onwards.

Date of                Implementation and procedure
Implementation

7-18 April 2005      Opened for subscription of common stocks at
                     its office.

22 April 2005        Notified the results of the subscription of
                     the common stocks by the old shareholders
                     with the total subscription of
                     THB5,292,630.00 or 1,529,263 shares with
                     the remaining shares of 1,470,737 shares.
                     The administrator offered for sale to the
                     specific investors as specified in the
                     rehabilitation plan.

27 April 2005        Registered the increase of the share
                     subscription during 7-18 April 2005 for
                     THB15,292,630 with Ministry of Commerce.

27 June 2005         Notified the capital registration for
                     conversion of debts to equity, according to
                     the option to be paid to the creditors in
                     the plan prescribed by Ministry of Commerce
                     Thailand for THB5 million to be common
                     stocks for increasing of the authorized
                     capital by 500,000 shares.

30 June 2005         Payment of interest to all of the
                     creditors, according to the rehabilitation
                     plan from November 29, 2004 to June 30,
                     2005 at the rate specified in the
                     rehabilitation plan.

On the increase of authorized capital still had the remaining
share of 1,470,737 shares that the plan administrator was
preparing to sell to specific investors as prescribed in the
rehabilitation plan and the plans of the administrator.

It is expected to complete the increase of capital as prescribed
in the rehabilitation plan by the fourth quarter of 2005.  While
the procedure that follows the increase of capital in the
rehabilitation plan specifies to adjust the stated value of the
common stocks, which shall be completed by the fourth quarter of
2005 as well, and the company shall report on the progress from
time to time later.

Forwarded for your information.

Sincerely yours,

Mr. Chatchai Boonyarat
Mr. Kitti Vilaivarangkul
Abico Holdings Public Co. Ltd.
The Plan Administrator of Abico Holdings Public Company Limited

CONTACT:

Abico Holdings Pcl
Abico Tower, Floor 5, 401/1 Moo 8,
Phaholyothin Road Lam Luk Ka Pathum Thani
Telephone: 0-2992-5858 (14 Lines)
Fax: 0-2992-5878-9
Web site: http://www.abicogroup.com


THAI PETROCHEMICAL: Updates SET on TPI Common Stock Sale
--------------------------------------------------------
Thai Petrochemical Industry Public Co. Ltd. informed the Stock
Exchange of Thailand (SET) on the result of the sealed bid
auction for the sale of TPI Polene common stock of THB17 per
share subjected to the Right of First Refusal from the
creditors.

The Committee of Creditors advise us that they exercise the
Right of First Refusal to buy the 249,007,294 shares of TPI
Polene at THB41.18 per share from TPI's portfolio.

To comply with the Business Rehabilitation Plan, it is obliged
that TPI sell the whole package of such shares to the scheme
creditors at the total amount equivalent to US$250 millions.

Thus, the US$250 million of TPI liability will be immediately
eliminated as soon as the transfer of TPI Polene shares has been
completed.

Your acknowledgement of the above matter is highly appreciated.

Yours sincerely,

Suwit Nivartvong
The Plan Administrator for
Thai Petrochemical Industry Pcl

CONTACT:

Thai Petrochemical Industry Pcl
TPI Tower, Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Web site: http://www.tpigroup.co.th


WYNCOAST INDUSTRIAL: Q1 Results Swing to Black
----------------------------------------------
Wyncoast Industrial Park Public Co. Ltd. furnished the Stock
Exchange of Thailand a summary of its Reviewed Quarterly
Financial Statements.

Reviewed
Ending September 30
(In thousands)

Quarter 3                            For 9 Months

Year                2005        2004        2005        2004

Net profit (loss)   1,159   (16,840)      17,539    (111,977)

EPS (baht)          0.001    (0.012)       0.013       (0.08)

"The company hereby certifies that the information above is
correct and complete. In addition, the company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

Mr. Pathrlap Davivongsa
Position Chief Executive Officer
Authorized to sign on behalf of the company

CONTACT:

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


WYNCOAST INDUSTRIAL: Unveils Six Months Progress Report
-------------------------------------------------------
With reference to the rehabilitation progress report of
Wyncoast Industrial Park Public Co. Ltd. dated April 27, 2005,
the Company issued to the Stock Exchange of Thailand (SET) a
report on the progress under the rehabilitation plan for the
past six months.

(1) Go-carts Assembling Business

In the six months ended June 30, 2005, the Company recorded
revenue and profit from operation of approximately THB29.6
million and THB28.4 million, respectively from assembling go-
carts.

However, for the third quarter of the year 2005, the Company has
not assembled go-carts because the Company needed an improvement
on the area, where thereafter has formally operated free zone
area for rental business.

(2) Free Zone Area for Rental Business

The Company is supported to establish industrial community by
the Department of Industrial Work on February 10, 2005.

Thereafter, the Company received approval from Custom Department
for commencement of business operation, namely, "Wyncoast Free
Zone" on June 30, 2005.

At present, the Company has rented to customers, covering
approximately 70 percent of the rental area. In the six months
ended June 30, 2005, the Company recorded revenue and profit
from operation of approximately THB15.2 million and THB14.0
million, respectively from Free Zone Area for Rental Business.

There's an unoccupied area of approximately 30 percent. The
reason for the delay from the plan is the economic impact and
increase of the oil price, which caused the prospective
customers to postpone their investment and decision to rent the
area from the Company. However, the Company is trying to fill
the occupancy and will inform the shareholders of any progress.

(3) Studying Opportunities to Expand Services

Further to the last rehabilitation progress report, the Company
has studied opportunities and perform financial feasibilities to
integrate vertically in order to provide more services in
details and will inform the public when such study is completed.

Please be informed accordingly.

Sincerely yours

Mr. Pathrlap Davivongsa
Chief Executive Officer





BOND PRICING: For the Week 24 October to 28 October 2005
--------------------------------------------------------

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


AUSTRALIA
---------
Advantage Group Ltd                  10.000%     4/15/06     1
Ainsworth Game                        8.000%    12/31/09     1
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     9
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                       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    24
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
Longreach Group Ltd                  10.000%    10/31/08     1
MacArthur Coal                       10.000%    12/11/05     7
Minerals Corporation Ltd             10.500%     9/30/07     1
Nuplex Industries Ltd                 9.300%     9/15/07     8
Pacific Print Group Ltd              10.250%    10/15/09    10
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               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
Speirs Group Ltd                     10.000%     6/30/49     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     8
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    74


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     3
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
---------

Sengkang Mall                         8.000%    11/20/12     1
Structural System Singapore          11.000%     6/30/07     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.

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                 *** End of Transmission ***