TCRAP_Public/051031.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

              Monday, October 31, 2005, Vol. 8, No. 215

                            Headlines

A U S T R A L I A

A.B. & J.M.: Schedules Final Meeting on Nov.7
ARUBA PROPERTIES: Names David Robinson as Official Liquidator
AUSTRALIAN GAS: To Build AU$350-Mln Power Plant
BURNS PHILP: Rating Remains on Watch Negative
CARTER HOLT: Mulls Closure of NZ Saw Mill

CA SEYMOUR: Court Issues Winding Up Order
CRANEST PTY: Set to Declare First Dividend Today
ENDEAVOUR FUNDS: Ex-exec Faces Court on Criminal Charges
FONCECA PTY: Liquidator Details Wind Up Manner
FUNG LEA: Creditors Wind Up Firm

HELIX RESOURCES: Releases 2005 Quarterly Report
INDUSTRIAL REALTY: Members Decide to Close Operations
LAHARA PTY: Members Convene to Review Wind Up Report
LIFECARE SERVICES: Court Makes Orders in ASIC Proceedings
LINMORE PTY: Winds Up Business

MC ASSET: Liquidator to Distribute Company Assets
MOORABBIN CHELTENHAM: Distributes Dividend to Creditors
MONWOOD PROPERTY: Wound Up by Court
NORODS AUSTRALIA: Members, Creditors Receive Liquidation Report
PREDATOR ENGINEERING: Court Orders Wind Up

RMF CONSTRUCTION: Placed Under Voluntary Liquidation
SOUTHERN PLACEMENTS: Appoints Official Liquidator
STREETWISE GROUP: Liquidator Hears from Bangaru
TALKPRINT PTY: Enters Liquidation
TIANA TRANSPORT: Pays Dividend

TWOBRO HOLDINGS: Creditors OK Liquidator's Appointment
VERTICAL GROUP: Intends to Declare Final Dividend
WHET INVESTMENTS: Court Hands Down Final Ruling


C H I N A  &  H O N G  K O N G

ASIA PACIFIC: To Appoint New Liquidators
CHINA CONSTRUCTION: Mulls Converting IPO Proceeds to RMB Assets
CHINA CONSTRUCTION: Japanese Investors Subscribe US$300M Shares
CHINA MEDICAL: FY/2005 Net Loss Widens to HK$64 Mln
CHINA SOUTHERN: Net Soars to CNY852 Mln

GLORRIE INVESTMENT: Court Releases Winding Up Notice
HENNESON ENGINEERING: Set to End Operations
JIAN AI: Issues Debt Claim Notice
NEWKIND INTERNATIONAL: Schedules Winding Up November 30
SWEETMART GARMENT: Court Issues Winding Up Order

WAH HING: Winding Up Hearing Set November 2
WO FUNG: Creditors Meeting Set November 4


I N D I A

T. SPIRITUAL: SEBI Launches Inquiry Over Unfair Practices


I N D O N E S I A

INDOFOOD SUKSES: Aims to Repay Foreign Exchang Debt Next Year
PERTAMINA: Offers to Operate Cepu Block for First Five Years


J A P A N

JAPAN AIRLINES: To Postpone Planned Fare Hike
MITSUBISHI MOTORS: Signs Agreement With Smart on Engine Supply
SONY CORPORATION: To Delist Shares in 9 Overseas Bourses
SONY CORPORATION: Group Net Profit Falls 72%
TOSHIBA CORPORATION: Unveils 1H/2005 Financial Results


K O R E A

CITIBANK KOREA: To Launch Strike if Demands are Not Met
INCHON OIL: SK Pares Down Bid


M A L A Y S I A

AMSTEEL CORPORATION: Unit Dissolves MBLI Bulking
BOUSTEAD HOLDINGS: Unveils Director's Dealing in Securities
FURQAN BUSINESS: Unit Enters SPA with Prowara Holdings
GADANG HOLDINGS: Unit Acquires 2 Shares in Flora Masyhur
I-BERHAD: Buys Back Ordinary Shares

IBRACO BERHAD: Accepts MYR5Mln Credit Facility
JIN LIN: Still No Changes in Land Title Condition Status
MAXBIZ CORPORATION: Fails to Pay Dues
MAXIS COMMUNICATIONS: Details Shares Held by Director
MEDIA PRIMA: Bourse Resumes Trading of Securities

PROMTO BERHAD: Appeals to SC's Decision
TA ENTERPRISE: Unit Receives Certificate of De-registration
TA ENTERPRISE: CIPRO Confirms De-registration of Unit
TA ENTERPRISE: Unit Completely De-registered
TA ENTERPRISE: Extends Date to Fulfill Conditions of Acquisition

TELEKOM MALAYSIA: Unit Extends Agreement with Tenaga Nasional


P H I L I P P I N E S

ABS-CBN BROADCASTING: Releases Amended Annual Report for 2004
COLLEGE ASSURANCE: Thousands May Be Out of School Next Sem
LEPANTO CONSOLIDATED: Posts Changes in Shareholdings
NATIONAL POWER: Freed from Ownership Limits
PHILIPPINE LONG: To List 1,289,745 Common Shares


S I N G A P O R E

CITIRAYA INDUSTRIES: Former Employees Jailed on Bribery Charges
HESHE HOLDINGS: Passes All Resolutions at AGM
JPH CONCEPTS: Liquidator Sets Deadline for Claims Submission
LINDETEVES-JACOBERG: Creditors Approve Restructuring Scheme
MEGAVISA SOLUTIONS: Court Orders Liquidation

NEOCORP INTERNATIONAL: Court Oks Judicial Manager Appointment
TURRET CONSTRUCTION: Intends to Pay Dividend


T H A I L A N D

KUANG PEI: Sees Improvement in Business Structure
PREMIER ENGINEERING: Unveils Result of Share Sale
T.C.J. ASIA: Notifies SET of its Investment in TOYO  

     -  -  -  -  -  -  -  -

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

A.B. & J.M.: Schedules Final Meeting on Nov.7
---------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of A.B. & J.M. Scott Pty Limited will be held on Nov.
7, 2005, 9:15 a.m. at the offices of Brooke Bird & Co, Chartered
Accountants, 471 Riversdale Road, East Hawthorn, 3123, to
present the Liquidator's account showing the manner in which the
winding up was conducted and the property of the Company
disposed of, and to hear any explanations that may be given by
the Liquidator.

Dated this 21st day of September 2005

Peter Goodin
Liquidator
Brooke Bird & Co. Chartered Accountants
471 Riversdale Road, East Hawthorn Vic 3123
Phone: 9882 6666


ARUBA PROPERTIES: Names David Robinson as Official Liquidator
-------------------------------------------------------------
At a General Meeting of Aruba Properties Pty Limited held on
September 27, 2005, the following resolutions were passed:

SPECIAL RESOLUTION

That the Company be wound up voluntarily.

ORDINARY RESOLUTION

That David Robinson be appointed liquidator for such winding up.

Dated this 27th day of September 2005

David Robinson
Liquidator
Harveys Chartered Accountants
Level 3, 2 Bulletin Place
Sydney NSW 2000


AUSTRALIAN GAS: To Build AU$350-Mln Power Plant
-----------------------------------------------
The Australian Gas Light Company (AGL) is planning to put up an
AU$350-million (US$262 million) gas-fired power plant in
northernmost Queensland state, Reuters reports.

The power retailer said the 370-megawatt (MW), base-load power
station would be supplied with gas from AGL's wholesale gas
portfolio and the planned start-up was 2009.

AGL's commitment to develop this power station follows the
recent announcement by the Queensland Government to open gas and
electricity markets to full retail contestability and reflects
AGL's confidence in the long term outlook for energy demand in
North Queensland," the company said in a statement.

CONTACT:

Australian Gas Light Company
Locked Bag 1837
St. Leonards
NSW 2065
General Inquiries: 02 9921 2999
General Fax: 02 9921 2552
Share Registry: 02 9921 2259
Share Registry Fax: 02 9921 2465


BURNS PHILP: Rating Remains on Watch Negative
---------------------------------------------
Standard & Poor's Ratings Services (S&P) said its 'BB-' ratings
on Burns, Philp & Co. Ltd. (Burns Philp) and its 'B' ratings on
Burns Philp Capital Pty. Ltd.'s subordinated debt issues remain
on CreditWatch with negative implications, where they were
placed on Sept. 29, 2005.

The CreditWatch placement followed Burns Philp's announcement
that it was spinning off and listing Goodman Fielder, combined
with the purchase of New Zealand Dairy Foods (NZDF), which will
be included in the new entity.  
    
Draft proforma financial information of the new entity indicates
that Burns Philp will retain an interest of less than 30% of
Goodman Fielder. The new Goodman Fielder will borrow AU$1.1
billion to repay existing inter-company loans of AU$1.1 billion
from Burns Philp.  
     
"After the restructuring, Burns Philp will have a much narrower
business profile, with its operations reduced to its snacks
business (predominately the Uncle Tobys brands) combined with a
dividend stream from Goodman Fielder. Although Burns Philp's
debt will be significantly lower after the repayment of this
intercompany loan by Goodman Fielder, little is known about
Burns Philp's future corporate and financial strategies," said
credit analyst Brenda Wardlaw, Corporate & Infrastructure
Finance Ratings group.
     
Standard & Poor's will resolve the CreditWatch on Burns Philp
once the Goodman Fielder transaction is finalized and Burns
Philp future operational, growth, and financial strategies can
be assessed.

CONTACT:

Burns, Philp & Company Limited
Corporate Head Office
Level 23, 56 Pitt Street
Sydney NSW 2000
Australia
Telephone: + 61 2 9259 1111
Facsimile:   + 61 2 9247 3272
E-mail: shareholder.enquiries@burnsphilp.com
Web site: http://www.burnsphilp.com

Goodman Fielder Pty Limited
Head Office
75 Talavera Road
Macquarie Park NSW 2113
Australia
Telephone: + 61 2 8874 6000
Facsimile: + 61 2 8874 6099
http://www.goodmanfielder.com.au


CARTER HOLT: Mulls Closure of NZ Saw Mill
-----------------------------------------
Carter Holt Harvey is planning to shut down its Rainbow Mountain
saw mill within two months as part of efforts to turn its
business around, Reuters reports.

The New Zealand-based company, which recently issued its third
profit warning in three months, said it preferred to close the
said mill rather than upgrade the older circular saw technology.

The Company has removed a shift in July to reduce production,
but additional action has been required in response to further
market softening, increased import competition and a strong  New
Zealand dollar.

The site employs 151 employees and contractors, and will retain
40 workers at other operations.

Poor prices and strong competition amid a slowdown in the
Australian wood products market has hurt Carter Holt's wood
products division, its largest by sales.

Carter Holt, the subject of a NZ$3.3 billion ($2.32 billion)
takeover offer by Burns Philp & Co. owner Graeme Hart, posted a
43 percent fall in third quarter earnings on Wednesday and cut
its annual forecast by about a fifth.

Shares in Carter Holt fell a cent to NZ$2.50, matching Hart's
offer price which has netted him acceptances for nearly 70
percent of the company ahead of the Nov. 3 deadline

CONTACT:

NEW ZEALAND
Carter Holt Harvey Limited
640 Great South Road
Manukau City
Auckland 1020
Phone: +64 9 262 6000
Facsimile: +64 9 262 6099

AUSTRALIA
Carter Holt Harvey Limited
Como Office Tower
Level 16, 644 Chapel Street
South Yarra
Melbourne, VIC 3141
Telephone: +61 3 9823 1600
Facsimile: +61 3 9823 1620
Web site: http://www.chh.com


CA SEYMOUR: Court Issues Winding Up Order
-----------------------------------------
On September 26, 2005, the Supreme Court of New South Wales,
Equity Division ordered the winding up of CA Seymour Water
Cartage Pty Limited, and appointed R. J. Porter to be Liquidator
of the Company.

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


CRANEST PTY: Set to Declare First Dividend Today
------------------------------------------------
Cranest Pty Limited will declare a first dividend on October 31,
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

John Lord
Liquidator
PKF Chartered Accountants
Level 10, 1 Margaret Street
Sydney NSW 2000
Phone: 9251 4100
Web site: http://www.pkf.com.au/


ENDEAVOUR FUNDS: Ex-exec Faces Court on Criminal Charges
--------------------------------------------------------
Mr. Scott Daniel Tracy, a former director of deregistered
company Endeavour Funds Management Limited (Endeavour FML), has
appeared in the Downing Street Local Court charged with one
count of making a false instrument and three counts of obtaining
a financial advantage by making false and misleading statements.

The charges were laid following an investigation by the
Australian Securities and Investments Commission (ASIC).

ASIC alleges that between October 28 and December 4, 2003, Mr.
Tracy created a false audit opinion report that was used to
induce an overseas asset management company to deal with
Endeavour FML.

Endeavour FML has been described as an active management
investment company specializing in the provision of currency
management and tactical asset allocation services to the funds
management industry.

It is further alleged that between 8 April 2004 and 24 April
2004, Mr. Tracy made false and misleading statements to
Macquarie International Capital Adviser Pty Ltd about the
trading history of Endeavour FML. It is alleged these statements
were made to ensure that the company gained a Funds Manager's
role in the May 2004 prospectus issued by Macquarie Equinox
Limited.

The Magistrate adjourned the case to 22 November 2005.

The matter is being prosecuted by the Commonwealth Director of
Public Prosecutions.


FONCECA PTY: Liquidator Details Wind Up Manner
----------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Fonceca Pty Limited will be held on Nov. 7, 2005,
9:15 a.m. at the offices of Brooke Bird & Co. Chartered
Accountants, 471 Riversdale Road, East Hawthorn, 3123, to lay an
account before them showing the manner of the winding up and
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

Peter Goodin
Liquidator
Brooke Bird & Co. Chartered Accountants
471 Riversdale Road, East Hawthorn Vic 3123
Phone: 9882 6666


FUNG LEA: Creditors Wind Up Firm
--------------------------------
Notice is hereby given that at a meeting of the creditors of
Fung Lea Chicken Pty Limited held on Sept. 28, 2005, it was
resolved that the Company be wound up, and Brian Silvia was
appointed as Liquidator for such purpose.

Dated this 30th day of September 2005

Brian Silvia
Liquidator
Ferrier Hodgson Chartered Accountants
Level 17, 2 Market Street
Sydney NSW 2000


HELIX RESOURCES: Releases 2005 Quarterly Report
-----------------------------------------------
Helix Resources Ltd. furnished the Australian Stock Exchange a
copy of its Quarterly Report for the Quarter Ending September
30, 2005.

The Company unveiled the following highlights:

1) Drilling at the Mt. Venn copper/nickel project completed with
encouraging results;

2) New drilling programs commence at the Tunkillia Gold Joint
Venture;

3) Anomalous gold and base metals geochemistry outlined in the
Pilbara region;

4) Kimberlite and diamonds located by DeBeers at the company's
West Pilbara Diamond Project;

5) Fully underwritten Renounceable Rights Issue to rise
additional working capital commences.

During the quarter, the Company completed its first reverse
circulation drilling program at the Mt. Venn project near
Laverton Western Australia.  Twenty-four holes were drilled for
a total of 3031 metres, with most holes drilled to between 120
and 160 metres depth.

Significant drill intersections are reported in the attached
Review of Operations.  Best assay results were from drill hole
MVRC 10, which intersected two metres grading 1.2 percent Nickel
from a four metre wide zone grading 1.3 percent Copper.  Most of
the drill holes contained broad widths of geochemically
anomalous copper and nickel varying from several metres to 60
metres in drilled widths.

Whilst, outcrop sampling in the general vicinity of the drilling
is currently in progress, further exploration this year will
focus on the delineation of likely structural trap sites
containing potentially economic levels of copper and nickel.

Minotaur Exploration Pty Ltd. has advised that a major program
diamond and reverse circulation drilling commenced at the
Tunkillia Gold Joint Venture during the quarter.  The drilling
is designed to induce polarization targets near Area 223 and
Area 191, as well as other potential gold anomalies not
previously investigated.  First results from the drilling
activities should be available in December.

In August, the Company provided further information concerning
its diamond exploration activities in the West Pilbara region.  
The Helix West Pilbara diamond project is currently managed by
De Beers Australia Pty Ltd. under the terms of an earning-in
agreement whereby DeBeers must spend the first $3.0 million of
exploration expenditure on the project before June 2006.  To
date, $1.5 million has been spent by DeBeers.  Two kimberlite
dykes, both containing microdiamonds, have been found on the
Helix tenements.  No bulk sampling or other investigations have
yet been carried out on the Helix kimberlites.  However, one of
the kimberlites is a dyke complex, which extends onto wholly
owned DeBeers tenements, where 32.5 tonne bulk sample has been
collected from the kimberlite and over 5 carats of microdiamonds
were recovered.

To view a full copy of the Quarterly Report, click
http://bankrupt.com/misc/HelixResources102705.pdf

CONTACT:

Helix Resources Limited
24 Kings Park Road
West Perth, Western Australia 6005
Australia
Telephone: +61 8 9321 2644 / +61 8 9321 3909


INDUSTRIAL REALTY: Members Decide to Close Operations
-----------------------------------------------------
At a General Meeting of Industrial Realty Pty Limited held on
September 30, 2005, the following Special Resolutions were
passed:

(1) That the Company be wound up voluntarily and that Peter
Ronald Winzer be appointed Liquidator.

(2) That its assets may be distributed (in whole or part) to the
members in specie, should the Liquidator so desire.

Dated this 30th day of September 2005

Peter R. Winzer
Liquidator
Level 12, 60 Terrace Road
East Perth WA 6004


LAHARA PTY: Members Convene to Review Wind Up Report
----------------------------------------------------
Notice is hereby given that the final meeting of members of
Lahara Pty Limited will be held on Nov. 7, 2005, 2:45 p.m. at
the office of Thomas Davis & Co., Level 20, 68 Pitt Street,
Sydney, to lay before the meeting the Liquidator's final account
and report, and to give any explanation thereof.

Dated this 4th day of October 2005

R. C. Geeves
Liquidator
Thomas Davis & Co.
68 Pitt Street, Sydney NSW 2000


LIFECARE SERVICES: Court Makes Orders in ASIC Proceedings
---------------------------------------------------------
The Supreme Court of Queensland has made orders in the
Australian Securities and Investments Commission (ASIC)
proceedings against Lifecare Services Australia Pty Ltd
(Lifecare) in relation to four Queensland-based aged care
management investments schemes.

ASIC commenced action against Lifecare and other defendants
following concerns the four schemes were not registered and
consequently investors were not provided with the appropriate
information and protection required by the Corporations Act
2001.

The orders, agreed with Lifecare, Mount Warren Park (Nominees)
Pty Ltd, Carrara Nominees (Qld) Pty Ltd, Hillcrest Nominees
(Qld) Pty Ltd and Morayfield (The Avenues) Pty Ltd, mean:

1) the current operators are appointed to wind up each of the
schemes;

2) the winding up of the schemes involves the completion of the
construction and development of the existing scheme projects;

3) the wind up of the schemes must be completed within specified
timeframes ranging from 12 to 24 months dependent of the
project;

4) upon completion of the scheme project each investor will be
paid their principal sum invested and interest to 30 June 2005,
plus any stamp duty which is required to be refunded;

5) Michael McDonald of Moore Stephens (Brisbane) & Partners is
appointed as supervisor to monitor and approve payments of
project management fees to the existing operators;

6) the current operators will provide monthly reports to the
supervisor and the investors on the progress of construction and
development of the scheme project; and

7) the current operators will provide four-monthly reports to
investors, the supervisor and ASIC, detailing the financial
position of the schemes, payments to or from unitholders and the
solvency of the schemes.

The orders made relating to the Carrara scheme specifically
provide that two investors will receive repayment of their
principal investment no later than 1 July 2006, as well as all
interest owing to them up to the date of the repayment.

Proceedings remain against a number of other parties involved in
these unregistered schemes.
Background

These orders were made in the Supreme Court of Queensland on 20
October 2005 after consultation with and agreement by the
investors, who were independently represented in the proceeding.

ASIC alleges that the aged care schemes are managed investments
that require registration, and that each of the companies was
Trustee for one of the schemes.

Each of the schemes has up to 20 investors, with total funds
invested amounting to $7.25 million.


LINMORE PTY: Winds Up Business
------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of members of Linmore Pty Limited held on September 27, 2005, it
was resolved that the Company be wound up voluntarily and at a
meeting of creditors held on the same day, it was resolved that
Andrew McLellan of PPB Chartered Accountants, Level 10, 90
Collins Street, Melbourne, Victoria, be appointed as Liquidator.

Dated this 27th day of September 2005

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


MC ASSET: Liquidator to Distribute Company Assets
-------------------------------------------------
At a general meeting of MC Asset Pty Limited held on September
27, 2005, the following Special Resolution was passed:

That the Company be wound up as a members' voluntary
liquidation, and that its assets may be distributed (in whole or
in part) to the members in specie, should the Liquidator so
desire.

Dated this 27th day of September 2005

Ron Gamble
Liquidator
c/o BDO Chartered Accountants & Advisers
8th Floor, 256 St. George's Terrace
Perth WA 6000
Phone: 08 9360 4200


MOORABBIN CHELTENHAM: Distributes Dividend to Creditors
-------------------------------------------------------
Moorabbin Cheltenham Public Storage Co Pty Limited will declare
a first and final dividend today, October 31, 2005.

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

Dated this 9th day of September 2005

Tim Beriman
Liquidator
WHK Smith Read
Level 3, 293 Camberwell Road
Camberwell Vic 3124


MONWOOD PROPERTY: Wound Up by Court
-----------------------------------
On Sept. 27, 2005, the Supreme Court of New South Wales, Equity
Division ordered that Monwood Property Pty Limited be wound up,
and appointed R. J. Porter as Liquidator of the Company.

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


NORODS AUSTRALIA: Members, Creditors Receive Liquidation Report
---------------------------------------------------------------
Notice is given pursuant that a joint meeting of the members and
creditors of Norods Australia Pty Limited will be held on
November 7, 2005, 10:30 a.m. at the offices of SimsPartners,
Level 12, 40 St. George's Terrace, Perth WA 6000 to present the
Liquidator's account showing the manner of the winding up and
the disposal of the property of the Company, and to hear any
explanations that may be given by the Joint and Several
Voluntary Liquidators.

Dated this 21st day of September 2005

C. M. Williamson
Liquidator
SimsPartners
Level 12, Dwyer Durack House
40 St. George's Terrace
Perth WA 6000


PREDATOR ENGINEERING: Court Orders Wind Up
------------------------------------------
On September 27, 2005, the Supreme Court of New South Wales
appointed David Young of Pitcher Partners, Level 3, 60
Castlereagh Street, Sydney to be the Official Liquidator for the
winding up of Predator Engineering Pty Limited.

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


RMF CONSTRUCTION: Placed Under Voluntary Liquidation
----------------------------------------------------
Notice is hereby given that at a general meeting of members of
RMF Construction Pty Limited held on Sept. 23, 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 29th day of September 2005

Schon G. Condon RFD
Bruce Gleeson
Joint Liquidators
c/o Jones Condon Chartered Accountants
Level 1, 34 Charles Street
Parramatta NSW
Phone: 02 9893 9499


SOUTHERN PLACEMENTS: Appoints Official Liquidator
-------------------------------------------------
Notice is hereby given that at a meeting of creditors Southern
Placements Pty Limited held on Sept. 30, 2005, it was resolved
that the Company be wound up voluntarily, and that Deryk Andrew
of Bentleys MRI Sydney, Business Recovery & Insolvency
Partnership, be appointed Liquidator for such purpose.

Dated this 30th day of September 2005

Deryk Andrew
Liquidator
Bentleys MRI Sydney
Business Recovery & Insolvency Partnership


STREETWISE GROUP: Liquidator Hears from Bangaru
-----------------------------------------------
The liquidator of the failed Streetwise Group received a letter
from a lawyer representing Kovelan Bangaru, The Daily Telegraph
reveals.

"It's the first I've heard from him since he left the country,"
Hall Chadwick liquidator Geoff McDonald said, confirming the
letter was from Mr. Bangaru's home, Pietermartizburg.

Mr. McDonald said Mr. Bangaru contacted him to find out is a
surplus was identified that would cover Streetwise's AU$30-
million debt.

The letter is likely to backfire on Mr. Bangaru, as it gives the
liquidator a legally acceptable address to serve notices of
demand on Mr. Bangaru and his wife Sharmendree.

Mr. McDonald said he was yet to get property and furniture in
the Bangaru name because he had no address for the 38-year-old-
businessman.


TALKPRINT PTY: Enters Liquidation
---------------------------------
Notice is now given that at a meeting of the members and
creditors of Talkprint Pty Limited held on Sept. 28, 2005,
creditors resolved that the Company be wound up, and appointed
R. A. Sutcliffe to be Liquidator for such purpose.

Dated this 28th day of September 2005

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


TIANA TRANSPORT: Pays Dividend
------------------------------
Tiana Transport Pty Limited will declare a first dividend to all
its creditors today, October 31, 2005.

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

Dated this 14th day of September 2005

John Frederick Lord
Official Liquidator
PKF Chartered Accountants
Level 10, 1 Margaret Street
Sydney NSW 2000
Phone: 02 9251 4100
Fax:   02 9240 9821
Web site: http://www.pkf.com.au/


TWOBRO HOLDINGS: Creditors OK Liquidator's Appointment
------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Twobro Holdings Pty Limited held on Sept. 28, 2005, members
passed a Special Resolution to voluntarily wind up the Company,
and P. Ngan and G. Parker were appointed Joint and Several
Liquidators. Creditors confirmed the Liquidators' appointment at
a creditors' meeting held later that day.

Dated this 5th day of October 2005

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


VERTICAL GROUP: Intends to Declare Final Dividend
-------------------------------------------------
Vertical Group Pty Limited will declare a first and final
dividend on November 2, 2005.

Creditors are required formally prove their debts or claims by
today, October 31, 2005, otherwise they will be excluded from
the benefit of the dividend.

Dated this 13th day of September 2005

Kenneth Wayne Lamb
Liquidator
Jones Condon Chartered Accountants
77 Station Street, Malvern Vic 3144


WHET INVESTMENTS: Court Hands Down Final Ruling
-----------------------------------------------
The New South Wales Supreme Court has made final orders in
proceedings brought by the Australian Securities and Investments
Commission (ASIC) against Whet Investments Limited (Subject to
Deed of Company Arrangement) (Whet) and Mr. Hugh Gordon, a
current and former director of Whet.

The orders follow the resolution by the creditors of Whet on 30
September 2005 that Whet enter into a Deed of Company
Arrangement.

The Supreme Court has ordered that Whet could not resume trading
until it has complied with a number of provisions of the
Corporations Act 2001, including:

1) the lodgment of financial and directors' reports for the
years ending 30 June 2004 and 30 June 2005; and

2) the appointment of three directors, at least two of whom
reside in Australia.

The Court also ordered that Whet be restrained from offering,
issuing, selling, redeeming or transferring any redeemable
preference shares in itself under any prospectus lodged with
ASIC.

The Court restrained Mr. Gordon from permitting Whet to resume
trading unless it complied with the Court's orders.

The Court agreed with ASIC's contentions that Mr. Gordon was
shown to be in a position to effectively control the affairs of
Whet and ordered that he be made liable together with Whet for
ASIC's legal costs until 11 July 2005.

ASIC's investigation is continuing.

Background

Whet is an unlisted, Newcastle-based public company that issued
redeemable preference shares to members of the public and used
those funds to acquire and operate business investments. Mr.
Hugh Gordon is a director and the Chief Executive Officer of
Whet.

ASIC commenced proceedings against Whet and Mr. Gordon following
concerns that Whet was carrying on a financial services business
without holding an Australian financial services licence. ASIC
was also concerned that Whet had redeemed a number of redeemable
preference shares contrary to the requirements of the
Corporations Act 2001.

ASIC was further concerned that Mr. Gordon be restrained from
issuing or transferring shares to members of the public in
breach of stop orders, issued by ASIC on 21 December 2004 and 6
January 2005, on the prospectuses of Whet.

Under the Corporations Act, redeemable preference shares may
only be redeemed on the terms on which they are issued and
either out of profits, or from the proceeds of a new issue of
shares made for the purpose of the redemption.

Whet was placed into voluntary administration by its directors
on 10 July 2005, one day prior to the re-listing of ASIC's
application for the appointment of a provisional liquidator to
Whet.


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

ASIA PACIFIC: To Appoint New Liquidators
----------------------------------------
Notice is hereby given that Master S. Kwang of the High Court of
Hong Kong has fixed a date, time and place for considering the
determination in making an order for the appointment of
liquidators of Asia Pacific International Investment Holdings
Limited (In Compulsory Liquidation).

Date and Time of Hearing: 11 November 2005 (Friday) at 9:30 a.m.

Place of Hearing: High Court, High Court Building, No. 38
Queensway, Hong Kong.

All creditors or contributories have a right to attend and speak
at the hearing.

Dated this 18th day of October 2005

ANTHONY NEDDERMAN
Joint and Several Provisional Liquidator


CHINA CONSTRUCTION: Mulls Converting IPO Proceeds to RMB Assets
---------------------------------------------------------------
China Construction Bank (0939) will consider applying to the
State Administration of Foreign Exchange (SAFE) in mainland
China to convert its IPO proceeds to RMB assets, due to the
speculation that the RMB will appreciate, Infocast News reports.

The company offered 26.486 billion shares globally for its IPO
at $2.35 per share, or $62.24 billion in total. The total
proceeds may rise to $71.6 billion if an over-allotment option
is exercised.

Mr. Fan elaborated that whether or not the RMB might appreciate
was not the main concern for its intended application to convert
the proceeds to RMB assets. Rather, it was because the company
hoped to have greater convenience because most of its assets
were denominated in RMB, he said.

CONTACT:

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


CHINA CONSTRUCTION: Japanese Investors Subscribe US$300M Shares
---------------------------------------------------------------
Japanese investors have subscribed for US$300 million worth of
shares in China Construction Bank (CCB) through the lender's
global placing, according to Infocast News, citing CCB Vice
President Fan Yifei.

CCB was allowed for short selling that started on October 28.
Mr. Fan said that he was not worried about the potential
turbulence because CCB had sound fundamentals and the market had
the mechanism.

On two CCB warrants' debut on the Singapore market on October
28, he said the market itself would decide the market's
activities.


CHINA MEDICAL: FY/2005 Net Loss Widens to HK$64 Mln
---------------------------------------------------
China Medical Science Limited (8120) incurred a net loss of
HK$63.56 million for the fiscal year ended July 31, compared to
a net loss of HK$43.79 million a year earlier, Infocast News
reports.

Loss per share (LPS) was s$0.1271. No final dividend wass
declared.  

The Group is engaged in the development, production, sales and
distribution of a series of aluminum-plastic caps for use in the
packaging of biotechnology and pharmaceutical products as well
as a range of biotechnology and pharmaceutical products.

CONTACT:

China Medical Science Limited
Room 1703B, 17/F
Kai Tak Commercial Building
No. 317 & 319 Des Voeux Road Central
Hong Kong  
Tel: 3426-8865  
Fax: 3426-8835  


CHINA SOUTHERN: Net Soars to CNY852 Mln
---------------------------------------
China Southern Airlines reported an unexpected net profit of
CNY852 million (HK$817.09 million) in the three months ended
September 30, reversing a first half loss as costs fell on a
stronger yuan and a surcharge helped cover costs from rising
fuel prices, The Standard reports.

The Chinese carrier had a profit of CNY9 million for the nine
months of the year. It lost CNY48 million in 2004 and CNY358
million in 2003 and had expected a smaller second-half loss for
2005.

To offset the losses from rising fuel prices, mainland airlines,
including China Southern, Air China and China Eastern added a
surcharge on tickets for domestic flights. The move particularly
helped China Southern, which runs more domestic flights than its
rivals.

CONTACT:

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


GLORRIE INVESTMENT: Court Releases Winding Up Notice
----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Glorrie Investment Company Limited by the High Court of Hong
Kong Special Administrative Region was on September 14, 2005
presented to the said Court by Reco Grand Limited whose
registered office is situate at Room 2004, 20th Floor,
Gloucester Tower, The Landmark, Central, Hong Kong.  

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

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

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

LU, LAI & LI
Solicitors for the Petitioner
Reco Grand Limited
20th Floor, Gloucester Tower, The Landmark
11 Pedder Street
Central, Hong Kong
Tel: 2810 8082   Fax: 2845 9103
(Ref: AC:ST:CWK 33471)

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 so to do.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 22, 2005.


HENNESON ENGINEERING: Set to End Operations
-------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Henneson Engineering Limited by the High Court of Hong Kong
Special Administrative Region was on September 3, 2005 presented
to the said Court by Golik Metal Manufacturing Co. Limited whose
registered office is situate at 3 Dai Shing Street, Tai Po
Industrial Estate, Tai Po, New Territories, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on November 2, 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.

W. K. TO & CO.
Solicitors for the Petitioner
11th Floor, Wheelock House
20 Pedder Street
Central, Hong Kong
Tel: 2522 2077
[Our Ref: T/05-44913(L-RL)]

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 so to do.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 1, 2005.


JIAN AI: Issues Debt Claim Notice
---------------------------------
Notice is hereby given that the creditors of Jian Ai Foundation
Limited (In Members' Voluntary Liquidation), which is being
wound up voluntarily is required on or before November 28, 2005
to send in their names, addresses and full particulars of their
debts or claims and the names and addresses of their solicitors,
if any, to the liquidator.

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

In default thereof, they will be deemed to have waived all or
any of such debts or claims and the Liquidators of the Company
shall be entitled seven days after the above date to distribute
the assets and funds in accordance with the Company's Memorandum
and Article of Association.

Dated this 28th day of October 2005

Man Mo Leung
Joint and Several Liquidator
34th Floor, The Lee Gardens
33 Hysan Avenue, Causeway Bay
Hong Kong


NEWKIND INTERNATIONAL: Schedules Winding Up November 30
-------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Newkind International Limited by the High Court of Hong Kong
Special Administrative Region was on September 26, 2005
presented to the said Court by Golden Triangle (Macao) Trading
Co., Ltd whose registered office is situate at Avenida Amizade
No. 888 S/N 2-H, K Edif lao Yee Macao.  

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

C. L. CHOW & MACKSION CHAN
Solicitors for the Petitioner
Rooms 501-3, 5th Floor
Hang Seng Building
77 Des Voeux Road Central
Central, Hong Kong
Tel: 2877 3318 / 2810 7979   Fax: 2877 2620 / 2845 2189
(Ref: LC/GE/24741/05/CY)

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 so to do.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 29, 2005.


SWEETMART GARMENT: Court Issues Winding Up Order
------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Sweetmart Garment Works Limited by the High Court of Hong Kong
Special Administrative Region was on September 28, 2005
presented to the said Court by Oversea-Chinese Banking
Corporation Limited whose registered office is situate at 65
Chulia Street No. 29-00 OCBC Centre Singapore 049513 and having
its principal place of business in Hong Kong at 9th Floor, Nine
Queen's Road Central, Hong Kong.  

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

LIAU, HO & CHAN
Solicitors for the Petitioner
Oversea-Chinese Banking Corporation Ltd
6th Floor, United Chinese Bank Building
31-37 Des Voeux Road Central
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention so to do.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 29, 2005.


WAH HING: Winding Up Hearing Set November 2
-------------------------------------------
Notice is hereby given that a Petition for the Winding up of Wah
Hing Fat Realty Company Limited by the High Court of Hong Kong
Special Administrative Region was on August 29, 2005 presented
to the said Court by the Secretary for Justice, acting for and
on behalf of the Commissioner of Inland Revenue, of 2nd Floor,
High Block, Queensway Government Offices, 66 Queensway, Hong
Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on November 2, 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.

LI SAU LEE
Government Counsel
Counsel for the Petitioner
Department of Justice
2nd Floor, High Block
Queensway Government Offices
66 Queensway
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 so to do.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of November 1, 2005.


WO FUNG: Creditors Meeting Set November 4
-----------------------------------------
Notice is hereby given that a meeting of creditors of Wo Fung
Construction Limited (In Liquidation) will be held at 13th
Floor, Gloucester Tower, the Landmark, 11 Pedder Street,
Central, Hong Kong on November 4, 2005 at 2:30 p.m. for the
purpose of reporting on the progress of the liquidation and
discussing various issues.

Creditors may attend and vote either in person or by proxy.
Proxy forms to be used at the meetings must be lodged at 13th
Floor, Gloucester Tower, The Landmark, 11 Pedder Street Central,
Hong Kong or sent by facsimile to 2218 3883, not later than 4
p.m. on the day before the meeting or any adjourned meeting at
which they are to be used.

Dated this 28th day of October 2005

Alan C. W. Tang
Wong Kwok Man
Joint and Several Liquidators


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

T. SPIRITUAL: SEBI Launches Inquiry Over Unfair Practices
---------------------------------------------------------
The Securities and Exchange Board of India (SEBI) conducted
investigation into suspected unfair trade practices in the scrip
of T. Spiritual World Ltd. (hereinafter referred to as 'TSW').
Pursuant to the aforesaid investigation, SEBI appointed the
undersigned as the Adjudicating Officer under Section 15 I of
SEBI Act, 1992, vide order dated July 05, 2005, to inquire into
and adjudge the alleged failure of Mr. Chander Singh to comply
with the summons issued by the Investigating Officer, SEBI.   It
was alleged that Mr. Chander Singh violated the provisions of
Section 11(3) and 11C (5) of the SEBI Act, for which penalty can
be imposed under Sec. 15HB of SEBI Act, 1992. The aforesaid
appointment was communicated vide proceedings of the Whole Time
Member, SEBI, dated August 05, 2005.

The undersigned issued a show cause notice (SCN) dated August
26, 2005 under Rule 4(1) of SEBI (Procedure For Holding Inquiry
And Imposing Penalties By Adjudicating Officer) Rules, 1995
(hereinafter referred as 'Adjudication Rules') to Mr. Singh,
communicating the allegations leveled against him and calling
upon him as to why an inquiry in terms of the said Rules should
not be conducted against him.

The SCN dated September 26, 2005 was dispatched through
Registered post with Acknowledgement due. The postal department
is yet to provide acknowledgement of delivery, nor is there any
reply received from Mr. Singh either. The status of delivery of
SCN is, therefore, uncertain.  

Under the aforesaid circumstances, the undersigned thought it
fit to hold an inquiry in the matter. Accordingly, a notice of
inquiry dated September 20, 2005 was issued to Mr. Singh, fixing
October 05, 2005 as the date for inquiry. Copy of the SCN and
its annexures were also enclosed in this notice of inquiry,
which was returned undelivered by the postal department with the
comment, "refused" (dated September, 24, 2005). Another copy of
the said notice was also sent through official courier of SEBI,
which incidentally got delivered on the same address.  In the
opinion of the undersigned, Mr. Singh deliberately refused to
accept the notice of inquiry and also did not appear in response
to the notice sent and delivered through courier. I now proceed
ahead with the inquiry ex-parte.

From the material on record it is seen that SEBI launched
investigation into the scrip of TSW as there were unfair trade
practices.  The period of investigation was between January 01,
2003 and July 11, 2003 and the total volume of shares bought and
sold during the period by the top 5 members of BSE were 425,064
and 420,717 respectively Investigation further revealed that
there were artificial volumes, synchronized trades,
concentration of trading volumes among three members, reversal
trades and interconnection between clients of these members etc.  
Ramaben Samani Finance Ltd. (RSF) was one among the three
brokers short-listed for further investigation. The volume of
shares bought and sold by the top 5 members were 425,064. The
volume of shares bought and sold by RSF was 24,010 and 23,708
respectively, out of which the volume bought and sold for Mr.
Singh was 23,930 and 23,628 respectively.

Under the circumstances, the Investigating Officer issued
summons dated April 06, 2005 to Mr. Singh for his personal
appearance on April 18, 2005 to answer queries pertaining to his
trades in TSW scrip during the period of investigation. He was
also required to bring all relevant documents along. As per the
material on record, this summons was not served on him, as can
be seen from the comment "not reachable" on the copy for
acknowledgement. It is also seen that another copy of the
summons was dispatched through the broker RSF. RSF vide its
letter April 19, 2005 informed the IO that the summons was
dispatched by registered post to its client, Mr. Singh on April
08, 2005. Further, RSF also enclosed copy of postal
acknowledgement. It may be noted that the date for personal
appearance was fixed on April 08, 2005 and the summons was dated
April 06, 2005 and was dispatched through RSF. In other words,
only on the day when Mr. Singh was required to be present, RSF
sent the summons to him by RPAD. Though, RSF and Mr. Singh are
based within the city of Mumbai, the time gap between the
issuance of summons and the date for personal appearance is so
narrow that it cannot be expected of Mr. Singh to comply with
the said summons.   In other words it can also be said that
there was no valid notice of the said summons upon Mr. Singh.  

The second summons, dated April 11, 2005 required Mr. Singh to
be present on the very next day, i.e. April 12, 2005, at 11:00
am. From the material available on records, the mode of dispatch
and the status of delivery of this summons are not clear. Nor is
there any evidence to suggest that the said summon was served
upon Mr. Singh. Irrespective of whether the second summon was
served or not, the extremely short notice of even less than a
day, cannot be said to be a sufficient notice for a person to
respond.  .

Section 11 (3) (ii) of SEBI Act, 1992 empowers SEBI to enforce
attendance of persons and examining them under oath. However, by
no stretch of imagination could this power be exercised by
issuing summons in a manner that, by the time it reaches the
party, the date for personal appearance is already over.
Principles of natural justice require that a reasonable
opportunity needs to be given for the party to explain the facts
and circumstances appearing against him. In the instant case the
way summons were alleged to be served on Mr. Singh is as good as
summons are not served.

In this regard, the verdict of SAT vide its order dated October
15, 2004 in the appeal no. 166 of 2003 in the matter of Keyoor
M. Bakshi vs SEBI may be relevant. The appellant was barred from
securities market for a period of one year for fraudulent and
unfair trade practices in the scrip of JRAL. SAT set aside this
order of SEBI, pertaining to Mr. Bakshi, as no show cause notice
was served on him. The relevant portion is reproduced below:

"Various contentions were raised before the Tribunal. However,
it is not necessary to go into each of the contentions raised by
the appellant as we wish to dispose of this matter on the ground
of violation of principles of natural justice.

It is submitted that the appellant was never served with any
show cause notice nor was any opportunity given to the appellant
before the impugned order was passed. It was further submitted
that the appellant is a nominal director and was not involved in
the day today affairs of the company.

It appears to us from the records placed before us that the
appellant was not served with any show cause notice. In that
view of the matter, we have no alternative except to set aside
the impugned order in so far as the appellant is concerned and
direct the respondent to dispose of the matter afresh in
accordance with law. All contentions are left open in the event
the respondent wishes to issue a fresh show cause notice.

It is also brought to our notice that the period of ban imposed
in the impugned order has already spent itself out. Be that as
it may, since the appellant has raised the important question of
principles of natural justice the impugned order, as stated
earlier, is set aside only in so far as the appellant is
concerned. The respondent is at liberty to issue fresh show
cause notice to the appellant, if they so desire.

Accordingly the impugned order is set aside. No order as to
costs."

In the light of the above judgment it will not be appropriate to
hold Mr. Singh guilty of non-compliance of summons especially
when the said summons initially appeared to be unserved due to
the extreme short notice and other reasons as discussed in the
foregoing paragraphs.

In view of the discussions and findings arrived at above, I do
not find it to be a fit case for imposition of adjudication
penalty under Section 15I read with Section 15HB of SEBI Act,
1992 for non-compliance of summons.

This order of adjudication is made and passed on 25th day of
October 2005 at Mumbai.

AMIT PRADHAN
ADJUDICATING OFFICER


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

INDOFOOD SUKSES: Aims to Repay Foreign Exchang Debt Next Year
-------------------------------------------------------------
Noodle maker PT Indofood Sukses Makmur hopes to be able to fully
repay a USD172.1 million (IDR1.72 trillion) foreign exchange
debt by next year, reports Asia Pulse.

According to Indofood vice president Franciscus Welirang, the
Company plans to halt a proposed spinoff of its wheat flour
unit, PT Bogasari Flour Mills, if it can repay its debt as
scheduled.

For the first six months of 2005, Indofood Sukses reported a net
profit of IDR14.5 billion, compared to last year's IDR120
billion net profit for the same period; the Company cited
increased operating costs as the reason for the decrease in
profit.

CONTACT:

P.T. Indofood Sukses Makmur Tbk.
Ariobimo Sentral Bldg., 12th Fl.,
Jl. H.R. Rasuna Said X-2 Kav 5, Kuningan
Jakarta, 12950, Indonesia
Phone: +62-21-522-8822
Fax:   +62-021-522-6014
Web site: http://www.indofood.co.id


PERTAMINA: Offers to Operate Cepu Block for First Five Years
------------------------------------------------------------
State-owned oil & gas firm PT Pertamina is ready to operate an
oil-rich block in Cepu for its first five years of exploitation,
Asia Pulse reports.

According to Minister of State Enterprises Sugiharto, the oil
exploitation of the Cepu block may likely be given to Pertamina,
since the Company has had the model with many examples. Some
things still need to be clared, however, before negotiations for
the block can be completed.

A Memorandum of Understanding signed by Pertamina, its U.S.
partner ExxonMobil Corporation and the Indonesian government
states that the Cepu block will be operated alternately every
five years for the duration of the project (30 years), with
ExxonMobil as the first one to handle such project. But since
the U.S.-based oil firm did not agree to such terms, Pertamina
has expressed its willingness to go ahead and handle the
exploration for the first five years.

The Cepu block has 500 million barrels of reserves, and its
exploration would increase Indonesia's total oil output by 20%;
but both firms need to finalize negotiations on the operation of
the block so that drilling can  begin as soon as possible.

CONTACT:

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


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


JAPAN AIRLINES: To Postpone Planned Fare Hike
---------------------------------------------
Japan Airlines Corporation (JAL) will delay hiking its domestic
airfares to next April instead of January as initially planned,
Japan Today reports.

Details of the size of the fare increases are to be decided
later, the report said, adding JAL will also consider fare hikes
for its international routes.

The Japanese carrier will take shelter from the current business
difficulties by enhancing cost-cutting efforts, altering certain
air routes and stopping operating flights to some not-so-popular
destinations, the report said.

CONTACT:

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


MITSUBISHI MOTORS: Signs Agreement With Smart on Engine Supply
--------------------------------------------------------------
Mitsubishi Motors Corporation (MMC) and Smart Gmbh, a 100
percent owned subsidiary of DaimlerChrysler AG, have signed an
agreement on engine supply. MMC will supply an engine of the
same type as the turbo-charged engine to be used in i, MMC's new
concept minicar due for launch in January 2006.

The engine will be further developed for use in smart's fortwo
successor model. After the launch of the current smart fortwo in
October 1998, its successor will be available from 2007 onwards.

MMC and DaimlerChrysler have been cooperating on various win-win
projects in recent years and further ones are constantly in
discussion. They generate substantial synergy effects for all
partners and this engine supply agreement is another part of
this cooperative relationship.

The engines to be supplied are the natural aspirated and turbo-
charged engines based on the engine developed for i and will be
produced at MMC's powertrain production facility in Mizushima,
Okayama Prefecture, Japan.

Together with the engine production for i MMC will be able to
realize economies of scale through this agreement, thus lowering
costs on a per-unit basis.

CONTACT:

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

This is a company press release.


SONY CORPORATION: To Delist Shares in 9 Overseas Bourses
--------------------------------------------------------
At the Board of Directors' Meeting held on October 26, Sony
Corporation resolved to make applications to nine out of the
eleven overseas stock exchanges for the delisting of Sony's
shares (including depositary receipts representing such shares;
hereinafter the same shall apply). Related matters in this
regard are as follows:

1. Stock exchanges to which Sony will make applications for
delisting:

Pacific and Chicago (U.S.), Toronto (Canada), Frankfurt and
Dusseldorf (Germany), Paris (France), Brussels (Belgium), Vienna
(Austria), Swiss (Switzerland)

2. Reasons for delisting:

Due to the prevalence of borderless stock trading, the trading
volume of Sony's shares on each of these nine stock exchanges
has been extremely low. Therefore, Sony believes that these
delistings would cause no substantial inconvenience to Sony's
shareholders and investors.

3. Schedule:

Applications for the delisting of Sony's shares will be made to
each such stock exchange beginning in November 2005. Sony
expects to complete the whole delisting procedures within one
year; however, this timetable may vary depending on each stock
exchange's delisting requirements.

4. Stock exchanges on which Sony's shares will continue to be
listed:

Japan: Tokyo, Osaka
North America: New York
Europe: London

CONTACT:

Sony Corporation
7-35 Kitashinagawa 6-Chome
Shinagawa-Ku 141-0001, Tokyo 141-0001
JAPAN  +81 3 5448 2111
+81 3 5448 2244  
Web site: http://www.world.sony.com/


SONY CORPORATION: Group Net Profit Falls 72%
--------------------------------------------
Sony Corporation incurred a net profit of JYP21.21 billion in
the April-September first half of this fiscal year, down 72.3
percent from a year earlier, Japan Today reports.

The company's consolidated pretax profit increased 55 percent to
JPY108.29 billion and operating profit slid 4.7 percent to
JPY50.64 billion on a 1.6 percent decline in sales to JPY3.26
trillion.

For a copy of its consolidated financial results for the second
quarter ended September 30, 2005, go to
http://bankrupt.com/misc/tcrap_sony1028.pdf


TOSHIBA CORPORATION: Unveils 1H/2005 Financial Results
------------------------------------------------------
Toshiba Corporation announced its consolidated and non-
consolidated results for the first half (April-September) of
fiscal year 2005.

Overview of Consolidated and Non-consolidated Results for First
Half of Fiscal 2005

The Japanese economy continued a gradual recovery in the first
half of FY2005, as concerns about unemployment gradually eased,
consumer spending gradually picked up, and capital expenditure
increased. Overseas, the US economy continued to expand, and
Europe saw gradual recovery. In Asia, China and other countries
continued their economic expansion. In these circumstances,
Toshiba's consolidated and non-consolidated business results for
the first half of FY2005 were as follow:

Consolidated Results

Consolidated sales were JPY2,900.1 billion (US$25,664.6
million), an increase of JPY118.3 billion from the same period
of the previous year. Consolidated operating income improved by
JPY0.7 billion from the same period a year ago to JPY51.4
billion (US$454.6 million). Electronic Devices continued to
secure high profitability while it saw lower operating income
than the year-earlier period. Digital Products and Social
Infrastructure saw improvement in operating income (loss)
compared to the same period a year ago, while Home Appliances
widened its operating loss.

Income before income taxes and minority interest rose by 20.5
billion yen from the year-earlier period to 42.1 billion yen
(US$372.6 million), on reduced restructuring costs and increased
equity in earnings of affiliates from the year-earlier period.
Net income increased by JPY6.2 billion from the same period of
the previous year to JPY14.6 billion (US$129.6 million).

(Note) From FY2005, income (loss) before income taxes and
minority interest includes equity in earnings of affiliates,
which was not included until FY2004. The impact of this change
of presentation is plus 0.1 billion yen for the first half of
FY2004 and plus 6.5 billion yen for the first half of FY2005.
The above comparison with the year-earlier period is based on
the new accounting presentation.

Non-consolidated Results

Non-consolidated sales increased by JPY116.3 billion from the
same period of the previous year to JPY1,448.3 billion
(US$12,817.1 million). Recurring profit increased by 21.6
billion yen from the year-earlier period to 36.8 billion yen
(US$325.5 million). Net income was JPY3.5 billion (US$30.7
million), an increase by 1.2 billion yen from the year earlier
period.

For more information, go to
http://bankrupt.com/misc/UnEncrypted.pdf_sony1028.pdf

CONTACT:

Toshiba Corporation Company
1-1, Shibaura 1-chome, Minato-ku
Tokyo 105-8001, Japan  
Phone: +81-3-3457-4511
Fax: +81-3-3455-1631

This is a company press release.


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

CITIBANK KOREA: To Launch Strike if Demands are Not Met
-------------------------------------------------------
The unionized workers of Citibank Korea Inc. mulls of staging a
strike should their demands of wage hike among others would be
denied, Yonhap News Agency reveals.

The workers plan to launch the strike on November 1 in time of
the company's first anniversary of its merger with KorAm Bank.

The union claims that the bank's management manner in
negotiations is insincere.  The workers pointed that the
management is biased against former KorAm employees.

Aside from the demand of a raise in pay, the union also sought a
special bonus equivalent to ten percent of the bank's pretax
profit and a pay raise for non-regular workers and others.

There are 2,920 unionized employees at the lender, controlled by
U.S.-based Citigroup, or about 80 percent of its regular
workforce, according to the union.

In June and July of last year, unionists at the former KorAm
Bank staged an 18-day strike, considered the longest period ever
among local financial institutions.

CONTACT:

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

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

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


INCHON OIL: SK Pares Down Bid
-----------------------------
SK Corp. has cut its bid for Inchon Oil Refinery Co. by KRW160
billion to KRW3.02 trillion, Asia Pulse said, citing industry
sources.

SK's original bid for Inchon was KRW1.6 trillion worth of new
shares issued by Incho and KRW1.6 trillion of new bonds from the
refiner, bringing its total investment to KRW3.2 trillion.

According to the sources, SK Corp. and the Incheon District
Court recently reached an agreement that the refiner will buy
KRW1.44 trillion of bonds from Inchon Oil.

Following the approval from the Fair Trade Commission, SK Corp
plans to sign a final contract with Inchon Oil next year for the
takeover.

Once SK completely purchases Inchon, it will become Asia's
fourth-largest refiner, with a refining capacity of 1.1 million
barrels a day.

In January, creditors led by Citigroup Inc. rejected a KRW685
billion offer from Sinochem, China's largest chemicals trader,
saying it was too low.

Inchon Oil has been under court receivership since March 2003
after going bankrupt in 2001.

CONTACT:

Inchon Oil Refinery Co. Ltd.
100 Wonchang-dong
Seo-gu, Inchon 404-210
Korea (South)
Telephone: +82 32 570 5151 / +82 2 7292378


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

AMSTEEL CORPORATION: Unit Dissolves MBLI Bulking
------------------------------------------------
The Board of Directors of Amsteel Corporation Berhad (Amsteel)
advised Bursa Malaysia Securities Berhad that MBLI Bulking &
Trading Pte Ltd (MBLI), a company incorporated in Singapore, and
a dormant wholly owned subsidiary of Lion Commodities and
Futures Trading Sdn Bhd, which in turn is a wholly owned
subsidiary of the Company, had on its own application, been
struck off the Register of Companies, Singapore and dissolved on
October 27, 2005.

The dissolution of MBLI does not have any material impact on the
earnings and net tangible assets of the Amsteel Group.

CONTACT:

Amsteel Corporation Berhad   
Level 46, Menara City Bank, 165,
Jalan Ampang, Kuala Lumpur
Wilayah Persekutuan 50450 Malaysia
Telephone:  03-21622155   
Fax: 03-21623448


BOUSTEAD HOLDINGS: Unveils Director's Dealing in Securities
-----------------------------------------------------------
Boustead Holdings Berhad unveils to Bursa Malaysia Securities
Berhad a dealing of its Principal Officer(s).

Pursuant to Chapter 14 of the Bursa Malaysia's Listing
Requirements, the following Principal Officer has transacted his
option under the Boustead ESOS as per the table shown below.

Name of Principal    Date Exercise/ Sold     Share Price (MYR)

Tan Sri Dato' Lodin   September 29, 2005     1.88    
Wok Kamaruddin


Number of Shares       % of Boustead's Issued Capital

7,200                 0.00122

CONTACT:

Boustead Holdings Berhad
18th Floor, Menara Boustead,
69 Jalan Raja Chulan,
50200 Kuala Lumpur
Telephone: 03-2141 9044
Fax: 03-21430075
Website: http://www.boustead.com.my/


FURQAN BUSINESS: Unit Enters SPA with Prowara Holdings
------------------------------------------------------
Furqan Business Organisation Berhad furnished Bursa Malaysia
Securities Berhad details of the disposal of property by
subsidiary company, Austral Amal Properties Sdn. Bhd.

(1) Introduction

The Board of Directors of Furqan Business Organisation Berhad
(FBO) advised that Austral Amal Properties Sdn. Bhd. (Company
No. 345239-T) (AAP or the Vendor), a wholly owned subsidiary,
had on October 26, 2005 entered into a Sale and Purchase
Agreement (the Agreement) with Prowara Holdings Sdn. Bhd.
(Company No. 608455-M) (PHSB or the Purchaser) to dispose of all
that piece of freehold land held under Geran 38415, Lot 2355,
Geran 38416, Lot 2356, Geran 38417, Lot 2357 and Geran 38418,
Lot 2358, all of Mukim of Bandar Kuala Lumpur, District of Kuala
Lumpur, State of Wilayah Persekutuan measuring 1,937 sq ft (180
sq m) each, totaling 7,748 sq ft (720 sq m), together with all
that 7 storey building erected thereon bearing postal address
CAK Plaza, No. 405-411 Jalan Tuanku Abdul Rahman, Kuala Lumpur
(hereinafter collectively called the said Property) for a total
consideration of MYR6,550,000.00 (Ringgit Malaysia Six Million
Five Hundred and Fifty Thousand) only (the Consideration) (the
said Disposal).

(2) Information on AAP

AAP is a wholly owned subsidiary of the Company and was
incorporated in Malaysia under the Companies Act, 1965, on June
5, 1995. The authorized and issued and paid up capital of AAP is
MYR100,000.00 divided into 100,000 ordinary shares of MYR1.00
each and MYR2.00 divided into two ordinary shares of MYR1.00
each respectively.

AAP is a property investment holding company.

(3) Information on the Purchaser

PHSB was incorporated in Malaysia under the Companies Act, 1965,
on March 10, 2003. The authorized capital of PHSB is
MYR100,000.00 divided into 100,000 ordinary shares of MYR1.00
each and the issued and paid up capital is MYR2.00 divided into
2 ordinary shares of MYR1.00 each.

Amongst other businesses, PHSB is also an investment holding.

(4) Rationale for the Said Disposal

The said Disposal is part of the Proposed Disposal of Non-Core
Assets of Austral Amalgamated Berhad (AAB) Group pursuant to the
Workout Proposal of AAB Group which were approved and
implemented under the Pengurusan Danaharta Nasional Berhad Act,
1998.

The details of the Workout Proposed had been disclosed in the
Information Circular to Shareholders of AAB dated October 8,
2002.

AAB is a wholly owned subsidiary of the Company.

(5) Salient Terms of the Agreement

The said Disposal of the said Property shall be conditional upon
the Purchaser's or the Purchaser's Solicitors' receipt of the
written confirmation of the Existing Chargee the amount payable
by the Purchaser to Existing Chargee for the discharge of the
said Property completely from the Existing Chargee.

(6) Financial Effect

The said Disposal will have no material effect on the share
capital, net tangible assets of FBO Group for the year ending
December 31, 2005 as the book carrying value approximates the
corresponding debt amounts owing to Danaharta.

(7) Approval

No shareholders approval is required at FBO level.

(8) Interest of Directors', Substantial Shareholders' and
Connected Person

None of the Directors and Substantial Shareholders, persons
connected to the Directors or Substantial Shareholders of the
Company and its subsidiaries or persons connected thereto have
any interest, direct or indirect in the said Disposal.

(9) Directors' Recommendation

The Directors of the Company are of the opinion that the said
Disposal is in the best interest of the Group.

CONTACT:

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


GADANG HOLDINGS: Unit Acquires 2 Shares in Flora Masyhur
--------------------------------------------------------
Gadang Holdings Berhad (Gadang) advised Bursa Malaysia
Securities Berhad that Gadang Land Sdn Bhd, a wholly owned
subsidiary of Gadang, has on October 27, 2005 acquired two (2)
ordinary shares of MYR1.00 each representing 100 percent of the
issued and paid-up share capital of Flora Masyhur Sdn Bhd (Flora
Masyhur) for a total cash consideration of MYR2.00.

The shares of Flora Masyhur were acquired from Ms Kok Pei Ling
and Ms Chan Kim Lian who are the daughter and sister-in-law of
Dato' Kok Onn, the Managing Director cum Chief Executive Officer
and a major shareholder of Gadang.

Flora Masyhur was incorporated on September 18, 2002 and has an
authorized share capital of MYR100,000 of which 2 shares of
MYR1.00 each have been issued and fully paid-up. Flora Masyhur
is currently dormant and its intended principal activity is
property development.

Save as disclosed above, none of the other Directors and/or
substantial shareholders of the Company or persons connected to
them has any interest, direct or indirect, in the above
acquisition.

CONTACT:

Gadang Holdings Berhad
Wisma Gadang 52, Jalan Tago 2
Off Jalan Persiaran Utama
Sri Damansara 52200 Kuala Lumpur
Telephone: 03-6275 6888
Fax: 03-6275 2136


I-BERHAD: Buys Back Ordinary Shares
-----------------------------------
I-Berhad issued to Bursa Malaysia Securities Berhad a notice of
shares buy back with the following details:
   
Date of buy back: October 27, 2005

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

Total number of shares purchased (units): 3,000

Minimum price paid for each share purchased (MYR): 1.050

Maximum price paid for each share purchased (MYR): 1.050

Total consideration paid (MYR): 3,174.16

Number of shares purchased retained in treasury (units): 3,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 3,572,900

Adjusted issued capital after cancellation (no. of shares)
(units):  
   
This announcement is dated 27 October 2005.

CONTACT:

I-Berhad
3, Jalan Astaka U8/84
Section U8, Bukit Jelutong
40150 Shah Alam
Selangor, Malaysia
Phone: 03-7845 4511
Fax: 03-7845 4514
Web site: http://www.i-digital.com


IBRACO BERHAD: Accepts MYR5Mln Credit Facility
----------------------------------------------
Ibraco Berhad advised Bursa Malaysia Securities Berhad that the
Board has on October 27, 2005 accepted MYR5 million credit
facility, which was given on a clean basis. This will be used to
partially retire more expensive facilities.

Dated this 27th day of October 2005.


JIN LIN: Still No Changes in Land Title Condition Status
--------------------------------------------------------
Jin Lin Wood Industries Berhad (JLWIB) provided Bursa Malaysia
Securities Berhad an update to the qualification of Audited
Financial Statements for the Financial Year Ended June 30, 2005.

In accordance with the Listing Requirements of Bursa Malaysia
Securities Berhad, Chapter 9, Part J, Paragraph 9.19 (35), the
Company advised that its audited financial statements for the
financial year ended June 30, 2005 (the Audited Financial
Statements) was qualified as a result of the qualification on
the accounts of Syarikat Mustapha & Ngu Timber Sdn Bhd (SMNT), a
wholly owned subsidiary of JLWIB.

In the previous financial years, the landed properties of a
subsidiary company were revalued to MYR45,265,000 based upon
independent valuation.

However, in arriving at the valuation, it has been assumed that
the land is categorized as industrial. As at balance sheet date
of June 30, 2005, the land has yet to be converted from
agricultural to industrial pending the payment of conversion
premium.

Notwithstanding the extension of time previously granted for
payment of the outstanding conversion premium, the subsidiary
company has not paid the outstanding conversion premium as at
the financial year ended June 30, 2005.

Therefore, there has not been any changes in the status of the
land title condition. In the Auditors' opinion, it is therefore
inappropriate for the carrying value of the land to be stated at
valuation amount based on it being categorized as industrial.

Had the carrying amount been determined based on the assumption
that the land is agricultural as stated in the independent
valuer's report, it would have been stated at MYR6,305,000 and
the Reserve of the Group would have been reduced by
MYR37,704,116 after related tax effects, and shareholders'
equity would be a deficit of MYR61,799,358.

As such, the Auditors have qualified the audited financial
statements of SMNT and advised that the Audited Financial
Statements of JLWIB are similarly qualified.

This announcement is dated 27 October 2005.

CONTACT:

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


MAXBIZ CORPORATION: Fails to Pay Dues
-------------------------------------
The Board of Directors of Maxbiz Corporation Berhad (Maxbiz)
informed Bursa Malaysia Securities Berhad that MAXBIZ has on
October 7, 2005 defaulted in payment in relation to the
redemption of the MYR3.0 million two years, five percent
Redeemable Unsecured Loan Stocks (RULS).

Pursuant to Condition 4 of the 2nd Schedule to the Trust Deed
dated July 16, 2004 entered into between Maxbiz and Pacific
Trustees Berhad (Trust Deed), Maxbiz shall redeem 50 percent of
the nominal amount of the RULS ie. MYR1.5 million on the 1st
anniversary of the date of issuance of the RULS ie. October 7,
2005.

The details of the payment currently in default in compliance
with Section 3.1 of Practice Note 1/2001 are as tabulated in
Table 1 attached below.

Click to view a full copy of Table 1
http://bankrupt.com/misc/MaxbizCorporation102705.doc

The details of the default in payment are as follows:

(a) Reason

The redemption of the RULS is to be paid from the recovery of
debts of MYR5.7 million due from account receivables from Geahin
Engineering Berhad (Geahin). However, management of Geahin has
not given all the necessary supporting documents to MAXBIZ to
enable MAXBIZ to make the necessary claims against the debtors
to recover the debts despite numerous reminders and meetings
with management of Geahin. To-date, MAXBIZ has not been able to
recover any of the debts from the account receivables.

(b) Measures to address

MAXBIZ is seeking for a deferral from the RULS holders for the
redemption of the RULS.

(c) Financial and legal implications

(i) In relation to the redemption of the RULS, the financial
implication is that the additional interest at the rate of 5.0
percent per annum will be incurred on the principal amount of
MYR1.5 million until such time that the principal amount is
redeemed.

(ii) In accordance to clause 13.1 of the Trust Deed, the Trustee
is empowered to institute such proceedings as it may think fit
to enforce such repayment of the RULS together with accrued
interest under the provision of the Trust Deed.

This announcement is dated 27 October 2005.


MAXIS COMMUNICATIONS: Details Shares Held by Director
-----------------------------------------------------
Maxis Communications Berhad (Maxis) advised that having received
a notification on October 27, 2005 pursuant to Paragraph
14.09(a) of the Listing Requirements from En Chan Chee Beng, a
Director of the Company, the company notified Bursa Malaysia  
Securities Berhad of his dealing in the securities of the
Company as set out below:

Acquisition of 6,000 ordinary shares of MYR0.10 each in Maxis
(Maxis Shares), upon exercise of rights under warrants issued by
Khazanah Nasional Berhad on August 30, 2005 at a price of
MYR9.34 per share (the Acquisition).

Following completion of the Acquisition, the balance number of
Maxis Shares held by En Chan Chee Beng is 506,000 Maxis Shares
representing 0.0202 percent of the total issued share capital of
the Company.

This announcement is dated 27 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


MEDIA PRIMA: Bourse Resumes Trading of Securities
-------------------------------------------------
Further to Listing Circular No. L/Q 33742 of 2005, Bursa
Malaysia Securities Berhad advised that trading in Media Prima
Berhad's securities will resume with effect from 9:00 a.m.,
Friday, October 28, 2005.

CONTACT:

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


PROMTO BERHAD: Appeals to SC's Decision
---------------------------------------
Public Merchant Bank Berhad, on behalf of Promto Berhad (PB)
advised Bursa Malaysia Securities Berhad that it has, via its
letter dated October 27, 2005, appealed to the Securities
Commission (SC) on the SC's decision not to approve the Proposed
Restructuring Scheme due to the unsatisfactory corporate
governance displayed by the Promoter of PSMAR.

Further to the said announcement, we wish to clarify that the
Vendors of PSMAR as stated in the announcement dated October 3,
2005 should be read as the "Promoter of PSMAR".

CONTACT:

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


TA ENTERPRISE: Unit Receives Certificate of De-registration
-----------------------------------------------------------
The Board of Directors of TA Enterprise Berhad (TAE) informed
Bursa Malaysia Securities Berhad that Kent Dunkeld Property
(Pty) Ltd (Kent Dunkeld), a company ultimately wholly owned by
TAE, had on December 10, 2004 applied for de-registration to the
Companies and Intellectual Property Registration Office, The
Department of Trade and Industry, South Africa (CIPRO).

Kent Dunkeld is currently a dormant company and has been
inactive since February 2003. The paid-up capital of Kent
Dunkeld is ZAR100 (equivalent to about MYR56, based on the
exchange rate today) comprising of 100 ordinary shares of
ZAR1.00 each.

TAE had on October 27, 2005 received the Certificate of
Confirmation from CIPRO stating that the de-registration of Kent
Dunkeld has been finalized.

The de-registration of Kent Dunkeld has no material financial
and operational effect on TAE.

This announcement is dated 27 October 2005.

CONTACT:

TA Enterprise Berhad
No 22 Jalan P Ramlee
50250 Kuala Lumpur, 50250
Malaysia
Telephone: +60 3 2072 1277 /+60 3 2031 6608


TA ENTERPRISE: CIPRO Confirms De-registration of Unit
-----------------------------------------------------
The Board of Directors of TA Enterprise Berhad (TAE) informed
Bursa Malaysia Securities Berhad that TA Properties (Pty) Ltd
(TA Properties), a company ultimately wholly owned by TAE, had
on December 10, 2004 applied for de-registration to the
Companies and Intellectual Property Registration Office, The
Department of Trade and Industry, South Africa (CIPRO).

TA Properties is currently a dormant company and has been
inactive since February 2004. The paid-up capital of TA
Properties is ZAR100 (equivalent to about MYR56, based on the
exchange rate today) comprising of 100 ordinary shares of
ZAR1.00 each.

TAE had on October 27, 2005 received the Certificate of
Confirmation from CIPRO stating that the de-registration of TA
Properties has been finalized.

The de-registration of TA Properties has no material financial
and operational effect on TAE.

This announcement is dated 27 October 2005.


TA ENTERPRISE: Unit Completely De-registered
--------------------------------------------
The Board of Directors of TA Enterprise Berhad (TAE) advised
Bursa Malaysia Securities Berhad that Inferprop (Pty) Ltd
(Inferprop), a company ultimately wholly owned by TAE, had on
September 10, 2003 applied for de-registration to the Companies
and Intellectual Property Registration Office, The Department of
Trade and Industry, South Africa (CIPRO).

Inferprop is currently a dormant company and has been inactive
since incorporation. The paid-up capital of Inferprop is ZAR100
(equivalent to about MYR56, based on the exchange rate today)
comprising of 100 ordinary shares of ZAR1.00 each.

TAE had on October 27, 2005 received the Certificate of
Confirmation from CIPRO stating that the de-registration of
Inferprop has been finalized.

The de-registration of Inferprop has no material financial and
operational effect on TAE.

This announcement is dated 27 October 2005.


TA ENTERPRISE: Extends Date to Fulfill Conditions of Acquisition
----------------------------------------------------------------
TA Enterprise Berhad (TAE) issued to Bursa Malaysia Securities
Berhad details of the proposed acquisition by Indo Aman Bina Sdn
Berhad (IABSB), a wholly owned subsidiary of TAE, of the
following from Sri Damansara Sdn Berhad (SDSB), a wholly owned
subsidiary of Land & General Berhad:

(I) Two (2) parcels of freehold land measuring approximately
2151 acres or 87,064 square metres held under HSD 113435 PT No.
34081 and HSD 113436 PT No. 34082, Mukim Sungai Buloh, Daerah
Petaling, Negeri Selangor Darul Ehsan for a total cash
consideration of MYR79,657,835; and

(II) Eight (8) adjoining lots of freehold land measuring
approximately 26.55 acres or 107,462 square metres held under
HSD 113426 PT No. 34072 to HSD 113433 PT No. 34079, Mukim Sungai
Buloh, Daerah Petaling, Negeri Selangor Darul Ehsan for a a
total cash consideration of MYR109,887,735.

(collectively referred to as Proposed Acquisitions)

The company refers to the Information Circular to Shareholders
dated September 9, 2005 and our announcements dated May 20, 2005
and July 20, 2005 in relation to the Proposed Acquisitions.

The Board of Directors of TAE advised the Exchange that IABSB
and SDSB had, on October 26, 2005, mutually agreed to extend the
last date for the parties to fulfill the conditions precedent to
the Proposed Acquisitions from October 31, 2005 to November 30,
2005.

Save for the above, all other terms and conditions shall remain
unchanged.

This announcement is dated 27 October 2005.


TELEKOM MALAYSIA: Unit Extends Agreement with Tenaga Nasional
-------------------------------------------------------------
Telekom Malaysia Berhad provided Bursa Malaysia Securities
Berhad an update to the proposed acquisition by Celcom
Transmission (M) Sdn Bhd of additional 10 percent equity in
Fibrecomm Network (M) Sdn Bhd (Fibrecomm).

Telekom Malaysia Berhad (TM) disclosed that its wholly owned
subsidiary, Celcom Transmission (M) Sdn Bhd (CTX) held via
Celcom (Malaysia) Berhad has agreed with Tenaga Nasional Berhad
(TNB) to extend the completion date of the Share Sale Agreement
dated April 29, 2005 between TNB and CTX (SSA) for a further six
(6) months from October 29, 2005.

Save for the aforesaid, the remaining provisions of the SSA
remain in full force and effect.

CONTACT:

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


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

ABS-CBN BROADCASTING: Releases Amended Annual Report for 2004
-------------------------------------------------------------
ABS-CBN Broadcasting Corporation (ABS) furnished the Philippine
Stock Exchange a copy of its Amended Annual Report, using SEC
Form 17-A, for the year ended December 31, 2004. Attached in the
said report is a copy of its letter to the Securities and
Exchange Commission, including its explanation on the Non-
Financial Disclosures Section and the responses of SGV & Co.,
the Company's external auditor, on the Financial Disclosures
Section.

For a copy of the said document, go to
ttp://bankrupt.com/misc/tcrap_abs1028.pdf.

For your information,
Janet A. Encarnacion
OIC, Disclosure Department
Noted by:
Jurisita M. Quintos
Senior Vice President

For a complete copy of the press release, go to
http://bankrupt.com/misc/tcrap_abs1028.pdf

CONTACT:

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


COLLEGE ASSURANCE: Thousands May Be Out of School Next Sem
----------------------------------------------------------
A Philippine senator fear that 100,000 students may be forced to
quit school sue to further delays in tuition payments by College
Assurance Plans Philippines Inc. (CAP), SunStar Daily reports.

Senator Mar Roxas made the comments in the face of a decision
from the Makati City Regional Trial Court (RTC) to look into
CAP's petition for rehabilitation, which automatically puts on
hold activities of CAP pending court decision.

"The firm has more than 700,000 planholders," Sen. Roxas said.

"Which it must cover for the second semester. What is at stake
here is the education of thousands of young students who
depended on the educational plan for tuition. If CAP had
complied with the SEC (Securities and Exchange Commission)
rules, the students would not be facing this problem," he added.

The SEC-imposed actuarial reserve liability (ARL) was meant to
protect the planholders and the students, hence it cannot be
held responsible for the woes the educational plan company is
facing at the moment.

Investigations conducted by the SEC revealed that CAP had placed
the bulk of the planholders' money in real estate ventures owned
by CAP officers, directors and related interests.

Despite the tuition fee deregulation in 1992, CAP continued to
sell the "open-ended" educational plan for another 10 years
while the rest of the industry already stopped selling the
product since 1992 because they were aware that they would not
be able to fulfill their obligations if they continued promoting
the product.

According to SEC's external audit reports, CAP was even granted
regulatory leeway premised on the entry of a new investor a year
ago, yet CAP's financial roadmap was still unable to fully
address the capital and trust fund deficiencies.

Sen. Roxas stressed payments should no longer be delayed.

"This country cannot afford to see more out-of-school youths,"
the senator added.

CONTACT:

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


LEPANTO CONSOLIDATED: Posts Changes in Shareholdings
----------------------------------------------------
Lepanto Consolidated Mining Company (LC) furnished the
Philippine Stock Exchange copies of SEC Form 23-B (Statement of
Changes in Beneficial Ownership of Securities) of the following:

1. Mr. Felipe U. Yap - Chairman of the Board & Chief Executive
Officer
2. Mr. Bryan U. Yap - President & Chief Operating Officer
3. Mr. Ronaldo S. Salonga - Director
4. Mr. Wilfrido C. Tecson - Director
5. Mr. Augusto C. Villaluna - Senior Vice President/Resident
Manager
6. Ms. Ma. Lourdes B. Tuason - Vice President/Treasurer

The reports pertain to the changes in their shareholdings in
relation to the Corporation's pre-emptive rights offering.

A copy of the document shall be made available at
http://bankrupt.com/misc/tcrap_lepanto1028.pdf

For your information.
(Original Signed)
JANET A. ENCARNACION
OIC, Disclosure Department
Noted by:
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

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


NATIONAL POWER: Freed from Ownership Limits
-------------------------------------------
The Energy Regulatory Commission (ERC) has exempted National
Power Corporation (Napocor) and its independent power producers
(IPPs) from the provisions of the Electric Power Industry Reform
Act (EPIRA), Manila Times says.

While undergoing privatization, Napocor and its IPPs are
excluded from EPIRA's Section 45 that limits the ownership,
control and operations of the installed generating capacity of a
grid. The limits also exclude assets in isolated grids, which
are not connected to high-voltage transmission systems.

These exemptions may be finalized when the Energy Regulatory
Commission finishes its guidelines for the market limits.

The ERC on October 13 held initial public consultation for the
guidelines

ERC Chair Rodolfo Albano also said his commission will issue a
separate notice on the specific limits on the installed capacity
of grids.

The draft guidelines will be posted soon in the ERC website
together with the comments and suggestions taken during the
October 13, 2005, public consultation in order to afford the
stakeholders a final look at its provisions.

CONTACT:

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


PHILIPPINE LONG: To List 1,289,745 Common Shares
------------------------------------------------
The Philippine Stock Exchange Exchange has approved on June 14,
2000, the application submitted by Philippine Long Distance
Telephone Company to list additional 1,289,745 common shares,
with a par value of P5.00 per share, to cover the Executive
Stock Option Plan (ESOP) of the Company, at an exercise price of
P814.00 per share.

In this connection, please be advised that a total of 245 common
shares have been availed of and fully paid by the optionee under
the Company's ESOP. In view thereof, the listing of the 245
common shares is set for Thursday, October 27, 2005. This brings
the number of common shares listed under the ESOP to a total of
653,521 common shares.

The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.

For your information and guidance.
(Original Signed)
CLAUDINE E. CRUZ
OIC, Listings Department

Noted by:
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Philippine Long Distance Telephone Company
Ramon Cojuangco Bldg., Makati Ave.
Makati, Metro Manila, Philippines  
Phone: +63-2-816-8024
Fax: +63-2-844-6654


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

CITIRAYA INDUSTRIES: Former Employees Jailed on Bribery Charges
---------------------------------------------------------------
Two former employees of chip recycling firm Citiraya Industries
Limited were fined and jailed after admitting to accepting
bribes from top officials, reports Channel NewsAsia.

Former mechanical crushing plant supervisor Charles Sebastin
Anthony Charles was fined SGD11,000 and sentenced to five
months' imprisonment, while former materials supervisor Seetoh
Kwok Weng was fined SGD18,000 and sentenced to 8 months in jail.

Mr. Charles accepted SGD11,000 in bribes from former Citiraya
assistant general manager Ng Teck Boon, while Mr. Weng took
SGD18,000 in exchange for diverting material meant for recycling
to sell in the black market.

The accused's lawyer argued that his clients only followed
orders from their superiors, but the judge said that in
sentencing, he had to consider the harm done to the Company, as
well as the scale of the corruption that was done.

CONTACT:

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


HESHE HOLDINGS: Passes All Resolutions at AGM
---------------------------------------------
Heshe Holdings Limited announces that the Company passed its
resolutions at its Annual General Meeting held on October 27,
2005.

To view the Company's proposed resolutions, go to:

http://bankrupt.com/misc/tcrap_hesheholdings103105.pdf

CONTACT:

Heshe Holdings Limited
78 Shenton Way
#20-01 MCL Land Building
Singapore 079120
Phone: 65 6372 4300
Fax: 65 6220 4327
Email: contacts@heshe.com.sg
Web site: http://www.heshe.com.sg


JPH CONCEPTS: Liquidator Sets Deadline for Claims Submission
------------------------------------------------------------
Notice is hereby given that the creditors of JPH Concepts Pte
Limited, which was wound up on Oct. 21, 2005, are required on or
before Nov. 28, 2005 to send in their names and addresses with
particulars of their debts or claims, and the names and
addresses of their solicitors (if any), to the Company
Liquidator, and, if so required by notice in writing from the
said liquidator, are by their solicitors or personally to come
in and prove the said debts or claims at such time and place as
shall be specified in such notice; in default thereof, they will
be excluded from the benefit of any distribution made before
such debts or claims are proven.

Dated this 28th day of October 2005

John Thong How Ley
Liquidator
27 Cantonment Road
Singapore 089745


LINDETEVES-JACOBERG: Creditors Approve Restructuring Scheme
-----------------------------------------------------------
Lindeteves-Jacoberg Limited refers to its announcement made on
Aug. 27, 2005, relating to inter alia a proposed investment by
ATB Austria Antriebstechnik AG and the Company's proposed debt
restructuring exercise by way of a scheme of arrangement
pursuant to Section 210 of the Companies Act (Chapter 50).

On Sept. 1, 2005, the Company filed an application with the
Singapore High Court, seeking a court order to convene a meeting
of its bank creditors to consider and approve the proposed
Scheme of Arrangement.

The meeting of the Company's bank creditors to consider the
proposed scheme was held on Oct. 27, 2005, and the Scheme of
Arrangement was approved by the required majority of
participating bank creditors.

The Company will make further requisite announcements at the
appropriate time.

To view the Company's proposed scheme of arrangement, click on:

http://bankrupt.com/misc/tcrap_lindteves-jacoberg102805.pdf

CONTACT:

Lindeteves-Jacoberg Limited
238A Thomson Road
Singapore 307684
Phone: 65 6383 4248
Fax:   65 6383 4068


MEGAVISA SOLUTIONS: Court Orders Liquidation
--------------------------------------------
In the matter of Megavisa Solutions (Singapore) Pte Limited, the
Singapore High Court issued a winding up order against the
Company on October 20, 2005, with the following details:

Name and Address of Liquidators: Peter Chay Fook Yuen, Bob Yap
Cheng Ghee and Yeap Lam Kheng
KPMG
16 Raffles Quay #22-00
Hong Leong Buiding
Singapore 048581

Dated the 28th day of October 2005

LEGAL21 LLC
Solicitors for the Petitioner


NEOCORP INTERNATIONAL: Court Oks Judicial Manager Appointment
-------------------------------------------------------------
Neocorp International Limited announces that on October 28,
2005, the Singapore High Court granted an order appointing Kon
Yin Tong and Wong Kian Kok of Messrs Foo Kon Tan Grant Thornton
as the Judicial Managers of the Company.

By Order of Kon Yin Tong
Company Judicial Manager
Dated: Oct. 28, 2005

CONTACT:

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


TURRET CONSTRUCTION: Intends to Pay Dividend
--------------------------------------------
Turret Construction Pte Limited, formerly of 133 New Bridge
Road, #17-09 Chinatown Point, Singapore 059413, posted a notice
of intended dividend at the Government Gazette, Electronic
Edition with the following details:

Name of Company: Turret Construction Pte Limited
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 600005 of 2002
Last day for receiving proofs: Nov. 11, 2005
Name  & address of Liquidators: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: Oct. 28, 2005

Kamala Ponnampalam
Assistant Official Receiver


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

KUANG PEI: Sees Improvement in Business Structure
-------------------------------------------------
The Stock Exchange of Thailand (SET) required Kuang Pei San Food
Products Public Company Limited to report on its decision in
case the company has to move to Rehabco sector.

The company informed the SET about the progress of resolving the
operation and company's business improvement in accordance with
the regulations of SET for the period up to September 30, 2005:

The company has improved the business structure in order to gain
the benefit from the operation through cost cutting and
launching new products which have value added and growth
potential.

Sincerely yours,

Mr. Salil Tohtubtiang
Chief Executive Officer

CONTACT:

Kuang Pei San Food Products PCL
Tanasarn Tower, 43 Chiangmai Road,
Khlong San, Bangkok  
Telephone: 0-2863-3288
Fax: 0-2437-8123


PREMIER ENGINEERING: Unveils Result of Share Sale
-------------------------------------------------
Premier Engineering and Technology Public Company Limited issued
to the Stock Exchange of Thailand (SET) a report on the results
of sale of shares.

(1) Information relating to the share offering
   
Category of shares offered: ordinary shares

Number of shares offered: 15,541,784 shares

Offered to: Existing shareholders whose names are shown in
shareholders list, dated as of April 19, 2004, which the Company
has used as a reference in the 1st offering of the increased
share

Price per share: THB1.00

Subscription and payment period: October 13, 2005

(2) Results of the sale of shares:

[ ] Totally sold out

[/] Partly sold out, with 4,189,817 shares remaining.

The company will allot the remaining shares to the interesting
shareholders and interesting persons.

(3) Details of the sale
   
   Thai investors     Foreign investors
Juristic  Natural   Juristic     Natural    Total
persons  persons   persons      persons

Number of persons     

-           29          -           -           29

Number of shares subscribed

-    11,351,967         -           -        11,351,967

Percentage of total shares offered for sale

-        73.04          -           -         73.04
   
(4) Amount of money received from the sale of shares
   
Total amount: THB11,351,967

Less expense (specify): - Baht

Net amount received: THB11,351,967

The company hereby certifies that the information contained in
this report is true and complete in all respects.

Authorized director
Duangtip Eamrungroj


T.C.J. ASIA: Notifies SET of its Investment in TOYO  
---------------------------------------------------
T.C.J. Asia Public Company Limited (TCJ) informed the Stock
Exchange of Thailand that on November 22, 2004, TCJ had
purchased TOYO ordinary shares of 1,632,000 shares (par value of
THB100 per share) from Sunrife Enterprises Pte. Ltd (Sunrife) at
THB203.50 per share, total amount of THB332,112,000.  

For this, it was agreed that TCJ has the option to purchase
shares from Sunrife for another 768,000 shares or about 24
percent of TOYO's registered capital within 12 months from the
date of completion of the first purchase or within November 22,
2005.

TCJ confirmed that at present, TCJ does not intend to exercise
the right to purchase the above-mentioned additional shares from
TOYO.

There are limitations between general accepted accounting
principle of recording and valuation firm measurement. TCJ will
not intend to exercise the right to purchase the remaining of
the contract. If any, in the future, the board of director of
TCJ would make the decision to purchase the shares, TCJ will
then put it to the shareholders' approval.

Please be informed accordingly.

Yours faithfully,
Srivilai Chatjuthamard
Plan Administrator




                            *********


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, Erica Fernando, Editors.

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

This material is copyrighted and any commercial use, resale or
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