TCRAP_Public/051108.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Tuesday, November 8, 2005, Vol. 8, No. 221

                            Headlines

A U S T R A L I A

AIR NEW ZEALAND: Welcomes First Boeing 777-200ER into Its Fleet
AIR NEW ZEALAND: Increases Boeing 787 Dreamliner Orders
ARISTOCRAT LEISURE: Eyes Slovenian Investment
AUSTRAL COAL: Offer Period Extended Until Nov. 21
AUSTRALIAN GAS: Eyes Power Generation Investments

BRAWN 4X4: Members Pass Winding Up Resolution
CYBERNET GROUP: Declares Final Dividend
EUROPEAN PACIFIC: Court Orders Liquidation
EVANS & TATE: Shareholders Demand Apology from Ex-boss
FA INVESTMENTS: Sule Arnautovic Named Liquidator

FARLTOLD PTY: Intends to Pay Dividend to Creditors
GARDENERS CAFE: Winding Up Process Initiated
GRESHAM PARTNERS: Liquidator to Explain Winding Up to Members
HOPE DESIGNS: Declares Employee Dividend Today
HR FORGE: Winds Up Business

IKUS DESIGN: Members Resolve to Wind Up Business
KARATIKAS PTY: Members, Creditors Set to Get Liquidator's Report
MINTFOX PTY: Decides to Halt Operations
M. PACK: Court Appoints Official Liquidator
NATIONAL AUSTRALIA: All Eyes on Margins

NATIONAL AUSTRALIA: Scottish Unit Shuts Down 32 Branches
NORTHCOTE HOLDINGS: Enters Liquidation
OVERSEAS PERIODICALS: Members, Creditors to Get Wind Up Report
PRAVDA ENTERPRISES: Creditors Confirm Liquidators' Appointment
PREVENT BREAKDOWN: Court Releases Winding Up Order

ROUSSEL TRADING: Schedules Final Meeting November 15
UNDERA PTY: Liquidator to Distribute Company Assets
WARRAWEE SECURITIES: Members Agree to Close Shop


C H I N A  &  H O N G  K O N G

BLUEBELL INTERNATIONAL: Issues Debt Claim Notice
EASYTECH HOLDINGS: Court Issues Winding Up Order
FATE ELECTRONIC: Court Bans Former Director
FAVOURITE LIMITED: To Undergo Winding Up Process
GOLDEN BUDDA: Prepares to Cease Operations

GUANGDONG SECURITIES: China Shuts Down Brokerage Firm
LUENROY LIMITED: Court Orders Winding Up
MARGAUX FINANCE: Appoints Liquidators, Committee of Inspection
PROSTICKS INTERNATIONAL: Net Loss Narrows to HK$3.3 Mln
STANDARD INTERNATIONAL: To Undergo Liquidation

WAH KEUNG: Enters Bankruptcy Proceedings
* China Closes 15 "High Risk" Securities Firms


I N D I A

INDIAN OIL: To Set Up New Facility in Gujarat
INDIAN OIL: Merger with IBP Hits Roadblock
MANGALAM TIMBER: Employees Stage Industrial Action
RANBAXY LABORATORIES: Shareholders OK Sale of Businesses
THOMAS COOK: Taps European Consultant to Map Out Indian Sale


I N D O N E S I A

BANK MANDIRI: Doubts Good Outcome of Paper Mill's Sale
BANK MANDIRI: Standard & Poor's Upgrades Debt Rating
DANAREKSA SEKURITAS: To Raise IDR3 Tln for Infrastructure


J A P A N

FUJITSU LIMITED: To Make Graphics Ships for S3
JAPAN AIRLINES: Launches New Corporate Reforms, Cut Wages
JAPAN AIRLINES: Details Restructuring Scheme
JAPAN AIRLINES: Launches Double Mileage Campaign
JAPAN AIRLINES: 2Q/2005 Profit Down 79% as Fuel Costs Surge

KONICA MINOLTA: To Drastically Cut Digital Camera Division
KONICA MINOLTA: Expects JPY47-Bln Net Loss in 2005/06
MITSUI ENGINEERING: Results Swing to JPY944-Mln Loss
SEIBU RAILWAY: Tsutsumi Brothers Find Prospective Partners
SEIYU LIMITED: Shares Up 6.9% on Wal-Mart Move


K O R E A

DOOSAN GROUP: Park Yong-sung Quits Chairmanship


M A L A Y S I A

AIC CORPORATION: Scraps Proposed Private Placement
ANCOM BERHAD: Purchases Ordinary Shares
BUKIT KATIL: Issues Status Report of Financial Condition
KENMARK INDUSTRIAL: Undertakes Warrant Exercise
KILANG PAPAN: Awaits SC Decision of Revised Restructuring Scheme

MAXIS COMMUNICATIONS: Issues New Shares for Listing, Quotation
MENTIGA CORPORATION: Unit Enters Into 3rd SA
MYCOM BERHAD: Sees No Change in Restructuring Scheme  
PACIFIC & ORIENT: Issues Shares Buy Back Notice
PACIFIC & ORIENT: New Shares Up for Listing, Quotation

PROMTO BERHAD: Restraining Order Extended
SINORA INDUSTRIES: Complies With Bourse's Listing Requirement
SOUTHERN BANK: Bourse to List, Quote New Shares
SOUTHERN BANK: Buys Back New Ordinary Shares


P H I L I P P I N E S

ABS-CBN BROADCASTING: To Hold Briefing on Q3 Results Nov. 10
ASIAN TERMINALS: Workers, Management Agree on Arbitration
COLLEGE ASSURANCE: Planholders Create 'Plan 05 Movement'
MAYNILAD WATER: Government to Guarantee New Loan
METRO PACIFIC: Plans to Buy Stakes of Foreign Firms in MNTC

NATIONAL POWER: COA Questions Investment in Bonds


S I N G A P O R E

CITIRAYA INDUSTRIES: Proposes Repayment Scheme to Creditors
ENGELHARD PTS: Receiving Claims Until Next Month
FIRSTLINK INVESTMENTS: Posts EGM Notice
INFORMATICS HOLDINGS: Appoints Company Secretary
NEOCORP INTERNATIONAL: In Talks to Buy Investor's Assets

OCS TUNNELLING: Court to Hear Petition November 18


T H A I L A N D

DAIDOMON GROUP: Notifies SET of Board Meeting Results
MANAGER MEDIA: Details Trading in Securities
NEW PLUS: Unveils Result of Restructuring Plan
BOND PRICING: For the Week 7 November to 11 November 2005

     -  -  -  -  -  -  -  -

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

AIR NEW ZEALAND: Welcomes First Boeing 777-200ER into Its Fleet
---------------------------------------------------------------
Air New Zealand on October 27 announced the delivery of its
first Boeing 777-200ER aircraft.

The plane is the first of eight ordered by the airline. Air New
Zealand's second 777 is also nearing completion at the same
facility and is expected for delivery on November 8, 2005.

Air New Zealand's Chief Executive Officer, Rob Fyfe, who is in
Seattle for the delivery, says the new Boeing aircraft will
extend the airline's new capabilities for its long-haul
operations. "These aircraft will be introduced onto our
Auckland-San Francisco route in late November and increase
services to six times per week," said Rob Fyfe, Chief Executive
Officer. "This will enable us to look at new markets, such as
non-stop services between Auckland and Shanghai as an indication
of our growth plans for the airline."

The first 777-200ER is being leased from International Lease
Finance Corporation (ILFC), with the second and third aircraft
to be owned by Air New Zealand. All the aircraft will be powered
by Rolls Royce Trent 800 series engines. The interior for the
new 777s mirror the new product being fitted into the airline's
fleet of eight 747 aircraft, and includes mood lighting
throughout the premium cabins.

In total, four of the new 313-seat Boeing 777-200 ER aircraft
will be purchased and four leased from ILFC. The purchase cost
of the four aircraft and the necessary infrastructure to
maintain the fleet of eight is in excess of $700 million.

"These eight new aircraft will eventually replace many of our
767-300s and also enable us to expand the international fleet,"
said Fyfe. "In addition, we are doubling our 787 order and
purchasing two more 787-8s, with delivery of all four expected
in 2010 and 2011. With the progressive expansion and improvement
of our international fleet, our customers will have even more
options and luxury when flying Air New Zealand."

By early 2007, the fleet will consist of 6,826 available seats
across 21 aircraft, representing a nearly 30 percent increase in
long-haul seats. The new interior is configured in a three-class
layout of Business Premier, Pacific Premium Economy and Pacific
Economy.

Business Premier

Seating for 26 in Business Premier is in a unique herringbone
configuration, the first such time these seats and this
configuration have been used in a 777. The innovative seating
design in Business Premier includes a comfortable, 22" wide
leather armchair that converts into a 6ft 7.5" (2.02m) bed, the
longest available in business class today. The seats also make
Air New Zealand the only airline to currently offer a truly lie-
flat bed at a business class price into and out of New Zealand.
Other features include an ottoman footrest that doubles as a
visitor's seat, in-seat power, a high resolution 10.4" screen to
view the on-demand digital entertainment system and active
noise-cancellation headsets.

Pacific Premium Economy

18 Pacific Premium Economy seats in two rows of a 3-3-3
configuration are situated immediately behind Business Premier
in a dedicated cabin. The seats feature the largest pitch in its
class at 39" in the 777, together with on-demand digital
entertainment through a personal 8.4" high resolution screen.
The new class makes Air New Zealand the only airline offering
premium economy seating on services to and from New Zealand.

Pacific Economy

Pacific Economy seating is in two cabins of 153 seats and 116
seats respectively, with a row configuration of 3-3-3. Seats
include on-demand digital entertainment through high resolution
8.4" in-seat video screens. The seat, designed by well known
seat manufacturer Recaro, includes a slim-line shape, memory
foam cushioning to shape to the passenger and a flexible seat
edge for extra comfort.

"The addition of the new Boeing 777 aircraft is another exciting
component of the transformation our airline has undergone this
year," said Fyfe. "As a leader in long-haul travel, we continue
to raise the standard in the skies and revolutionize the
industry."

CONTACT:

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


AIR NEW ZEALAND: Increases Boeing 787 Dreamliner Orders
-------------------------------------------------------
Air New Zealand is the second 787 customer to place a follow-on
order for the new composite Boeing jetliner, having placed its
initial order in June as part of a long-haul fleet announcement,
according to Netcomposites. The two new airplanes are valued at
US$260 million at list prices.

"The 787 Dreamliner clearly will be an important part of Air New
Zealand's future," said Rob Fyfe, CEO of Air New Zealand.

"We look forward to its economic benefits and the opportunity to
differentiate ourselves from competitors with a truly cutting
edge product that passengers will appreciate."

Air New Zealand's new 787s will be powered by new, high
technology Rolls Royce Trent 1000 engines.

"We're very proud of our long-standing partnership with Air New
Zealand," said Larry Dickenson, senior vice president, Sales -
Boeing Commercial Airplanes.

"The 787 is an airplane that is particularly well-suited for Air
New Zealand, providing the range and size for a profitable
operation while flying people directly where they want to go,
with exceptional comfort and with unmatched economic
efficiency."

Air New Zealand will be the first South Pacific 777 operator of
the 787, which is being developed as an entirely new airplane
incorporating composite technologies and new engines that
contribute to operating efficiencies and performance
characteristics exceeding conventional airframes.

Boeing now has 295 orders and commitments from 24 customers for
the 787.


ARISTOCRAT LEISURE: Eyes Slovenian Investment
---------------------------------------------
Aristocrat Leisure Limited announced that it had acquired a 50-
percent interest in the Elektronek group of companies
(Electronek).

Elektronek, which trades under the Interblock brandname,
manufactures a range of electro-mechanical multi-terminal gaming
products, including Roulette, Dice and Sic Bo, with a number of
other products in advanced stages of development.

The company is based in Slovenia, part of the European Union,
and sells its products in a wide range of gaming jurisdications,
including territories in Europe, the U.S., Canada and Macau. It
currently has products awaiting approval in a number of
jurisdictions, including NSW in Australia.

Aristocrat's initial investment will be Euros 30 million (AU$48
million) with up to a further Euros 10 million (AU$16 million)
payable, dependent on the achievement of certain financial
performance targets for the years ended December 31, 2005 and
2006.

Elektroncek is currently forecasting revenues for the year to
December 31, 2005 of approximately Euros 40 million and EBITDA
of approximately Euros 10 million. The acquisition will have a
minimal net impact on Aristocrat's earnings in 2005 and is
expected to be accretive by around 1 cent per share in 2006.

Acquisition of the interest in Elektroncek allows Aristocrat to
compete in the increasingly popular multi-terminal segment of
the gaming market. Elektroncek will gain significant benefits
from the use of Aristocrat's extensive sales channels across 200
jurisdications around the world.

Completion of this transaction remains subject to a number of
procedural conditions subsequent including regulatory approvals.

Mr. Paul Oneile, Aristocrat Chief Executive Officer and Managing
Director said, "We have been very impressed with the Interblock
product range and the momentum which Elektroncek has been
building up across a range of very important gaming markets".

"We believe that the two companies have complementary products
and we look forward to jointly developing the markets for the
Interblock product range around the world," concluded Mr.
Oneile.

Aristocrat Leisure Limited is a leading global entertainment
company, which provides a comprehensive range of gaming
solutions to entertainment venues around the world. The company
is licensed by over two hundred regulators and its products and
services are available in over ninety countries around the
world.

Elektroncek Group BV is a leading producer of electro-mechanical
multi-terminal gaming products, including Roulette, Dice and Sic
Bos, marketed under the Interblock brandname. Its products are
sold to a wide range of gaming jurisdictions, including
territories in Europe, the U.S., Canada and Macau, with
approvals pending in a number of other jurisdictions, including
NSW in Australia.

CONTACT:

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


AUSTRAL COAL: Offer Period Extended Until Nov. 21
-------------------------------------------------
Centennial Coal Company Limited (Centennial) gave notice under
section 650D(1) of the Corporations Act 2001 (Cth) that it
varies the takeover offers dated March 21, 2005 (Offers) made by
it under its off-market takeover bid to acquire all of the
ordinary shares in Austral and contained in its bidder's
statement date March 9, 2005 (as supplemented) by extending the
offer period during which the Offers will remain open for
acceptance until 7:00 p.m., Sydney time on November 21, 2005
(unless further extended).

The Offers were previously varied by notices dated April 22, May
17, May 30, June 10, June 24, July 11, July 25, August 1, August
15, August 29, September 12, September 26, October 10 and 24,
2005.

CONTRACT:

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


AUSTRALIAN GAS: Eyes Power Generation Investments
-------------------------------------------------
Australian Gas Light Company (AGL) is looking to enter the power
generation business to meet rising electricity demand, Reuters
reports, citing AGL Chairman Mark Johnson.

Mr. Johnson also told the Australian Broadcasting Corp.'s Inside
Business programme that the Sydney-based company would also take
advantage of opportunities arising from any privatization of
energy assets.

His comments came after AGL's AU$1.43 billion (US$1.1 billion)
purchase of hydro and wind power business, Southern Hydro,
Monday last week.

Mr. Johnson defended the AU$1.43 billion price tag -- which
analysts said was expensive at around 17 times forecast 2007
earnings before interest, tax, depreciation and amortization --
saying the assets would be critical to cover its exposure to
peak power demand, especially in South Australia state.

Southern Hydro, which AGL purchased from New Zealand's Meridian
Energy, has assets with a total generating capacity of 736
megawatts.

AGL, which has a market capitalization of around AU$7 billion,
plans to list as an energy company for its gas and electricity
retail business and an infrastructure company on the Australian
bourse in April.

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


BRAWN 4X4: Members Pass Winding Up Resolution
---------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of members of Brawn 4x4 Pty Limited held on Oct. 7, 2005, it was
resolved that the Company be wound up voluntarily.

At a creditors' meeting held on the same day, it was resolved
that Messrs. Nicholas Martin and Rodney Slattery of PPB
Chartered Accountants, Level 10, 90 Collins Street, Melbourne,
Victoria be appointed as Joint and Several Liquidators for such
purpose.

Dated this 10th day of October 2005

Nicholas Martin
Liquidator
PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


CYBERNET GROUP: Declares Final Dividend
---------------------------------------
Cybernet Group (Australia) Pty Limited will declare a final
dividend today, Nov. 8, 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

David Winterbottom
Liquidator
KordaMentha Pty Limited
Level 5 Chifley Tower, 2 Chifley Square
Sydney NSW 2000


EUROPEAN PACIFIC: Court Orders Liquidation
------------------------------------------
On Oct. 7, 2005, the Supreme Court of New South Wales ordered
the winding up of European Pacific Services Pty Limited, and
appointed Thomas Javorsky to be the Company's Official
Liquidator.

Thomas Javorsky
Liquidator
c/o Jones Condon
Chartered Accountants
Phone: 02 9251 5222


EVANS & TATE: Shareholders Demand Apology from Ex-boss
------------------------------------------------------
The Australian Shareholders Association wants the former chief
executive of Evans & Tate to apologize for the winemaker's poor
performance, ABC News reveals.

The shareholders have called for Franklin Tate to use this
year's annual general meeting to say his apologies.

Mr. Tate was forced to resign from troubled Evans & Tate in July
as part of conditions of an AU$10-million lifeline provided by
the ANZ bank.

Two months later, Evans and Tate posted an annual loss of almost
$50 million.

ASA spokesman Gerry Pauley says shareholders deserve a detailed
explanation as to what has caused the company's problems.

"The company made an announcement in May that Evans and Tate was
outperforming the industry," Mr. Pauley said.

"Now we find we're looking at horrendous losses, they lost AU$50
million in the year to June.

"I think Franklin Tate owes shareholders an apology."

CONTACT:

Evans & Tate
54 Salvado Road,
Wembley WA 6014
PO Box 451
Wembley WA 6913
Telephone: (08) 6462 1799
Facsimile: (08) 6462 1798
E-mail: et@evansandtate.com.au
Web site: http://www.evansandtate.com.au/


FA INVESTMENTS: Sule Arnautovic Named Liquidator
------------------------------------------------
Notice is hereby given that at a general meeting of members of
FA Investments Pty Limited held on Oct. 10, 2005, it was
resolved that the Company be wound up voluntarily, and Sule
Arnautovic was appointed Liquidator for the winding up.

Dated this 18th day of October 2005

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


FARLTOLD PTY: Intends to Pay Dividend to Creditors
--------------------------------------------------
Farltold Pty Limited will declare a first and final dividend
today, Nov. 8, 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


I. D. Jessup
Liquidator
Jessup & Partners Accountants & Business Advisors
3rd Floor, 155-157 Denham Street
Townsville Qld 4810
Phone: 07 4772 3515
Fax:   07 4721 4513


GARDENERS CAFE: Winding Up Process Initiated
--------------------------------------------
Notice is hereby given that at a general meeting of members of
Gardeners Cafe (Qld) Pty Limited held on Oct. 10, 2005, it was
resolved that the Company be wound up voluntarily, and that
Jason Bettles and Susan Carter of Downie Insolvency, Level 6, 50
Cavill Avenue, Surfers Paradise, Queensland be appointed
Liquidators for such winding up.

Jason Bettles
Susan Carter
Downie Insolvency
Level 6, 50 Cavill Avenue
Surfers Paradise, Queensland


GRESHAM PARTNERS: Liquidator to Explain Winding Up to Members
-------------------------------------------------------------
Notice is hereby given that the final meeting of members of
Gresham Partners Securities Pty Limited will be held on Nov. 15,
2005, 10:00 a.m. at the offices of SimsPartners, Level 24, 264
George Street, Sydney NSW 2000, to present the Liquidator's
final account and report, and to give any explanation thereof.

Dated this 6th day of October 2005

S. D. Pascoe
Liquidator
SimsPartners
Level 24, 264 George Street
Sydney NSW 2000
Phone: 02 9241 3422
Fax:   02 9241 3922


HOPE DESIGNS: Declares Employee Dividend Today
----------------------------------------------
Hope Designs Pty Limited will declare an employee Dividend
today, Nov. 8, 2005.

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

Dated this 29th day of August 2005

Andrew Fieldings
Julie Williams
Joint Liquidators
PPB Chartered Accountants & Business Reconstruction
Specialists
Level 4, 31 Sherwood Road
Toowong Qld 4066
Phone: 07 3371 7244
Fax:   07 3371 7311


HR FORGE: Winds Up Business
---------------------------
Notice is hereby given that at a general meeting of the members
of HR Forge & Engineering Co Pty Limited held on Oct. 10, 2005,
it was resolved that the Company be wound up voluntarily, and
that Gary John Feeney of c/o Level 4, 155 Castlereagh Street,
Sydney be appointed Liquidator for such purpose.

Dated this 10th day of October 2005

Gary J. Feeney
Liquidator
C/o Level 4, 155 Castlereagh Street
Sdydney


IKUS DESIGN: Members Resolve to Wind Up Business
------------------------------------------------
Notice is hereby given that at a meeting of members of Ikus
Design Pty Limited held on Oct. 7, 2005, it was resolved that
the Company be wound up voluntarily, and Nicholas Crouch of
Crouch Insolvency Chartered Accountants, Level 28 St. Martins
Tower, 31 Market Street, Sydney NSW 2000 was appointed
Liquidator for the winding up.

Dated this 7th day of October 2005

Nicholas Crouch
Crouch Insolvency Chartered Accountants
Level 28 St. Martins Tower
31 Market Street, Sydney NSW 2000


KARATIKAS PTY: Members, Creditors Set to Get Liquidator's Report
----------------------------------------------------------------
Notice is hereby given that a final general meeting of the
members and creditors of Karatikas Pty Limited will be held on
Nov. 15, 2005, 11:00 a.m. at the offices of PPB, Level 10, 90
Collins Street, Melbourne, to lay an account before them showing
the manner of the winding up and the disposal of the property of
the Company, and to hear any explanations that may be given by
the Liquidator.

Dated this 23rd day of September 2005

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


MINTFOX PTY: Decides to Halt Operations
---------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Mintfox Pty Limited held on Oct. 12, 2005, it was
resolved that the Company be wound up voluntarily and that
Christopher Michael Williamson and Kimberley Andrew Strickland
of SimsPartners, Level 12, Dwyer Durack House, 40 St George's
Terrace, Perth WA 6000 be appointed Joint and Several Voluntary
Liquidators.

Creditors ratified the Liquidators' appointment at a creditors'
meeting held later that day.

Dated this 14th day of October 2005

Kimberley A. Strickland
Christopher M. Williamson
Joint Liquidators
Level 12, 40 St. George's Terrace
Perth WA 6000


M. PACK: Court Appoints Official Liquidator
-------------------------------------------
On Oct. 7, 2005, the Federal Court of Australia, New South Wales
District Registry ordered that Christopher J. Palmer be
appointed Liquidator for the winding up of M. Pack Pty Limited.

Dated this 25th day of October 2005

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


NATIONAL AUSTRALIA: All Eyes on Margins
---------------------------------------
National Australia Bank's (NAB) recovery program will be subject
to scrutiny on Wednesday as the lender's annual profit
announcement brings the bank's reporting season to a close, The
Australian reveals.

NAB has been trying to regain market share in the lending
business after risk settings were tightened too far in the wake
of the September 2001 terrorist attacks on the U.S.

NAB CEO John Stewart has renewed NAB's appetite for reasonable
risk, but the issue is how much margin he has sacrificed to
achieve faster growth.

Westpac, which set the benchmark for Australia's Big Four banks
this week, said it had ignored an outbreak of "irrational"
pricing and pointed to an underlying contraction in the bank's
net interest margin of only 7 basis points.

NAB will fare worse after a decline of 21 basis points at its
March half-year compared with a year before.

However, Mr. Stewart said at the May interim results
presentation that earnings had bottomed, market shares in the
key segments of housing and business lending had stabilized and
asset quality remained sound.

He said there would be "acceptable" earnings growth in the
second half.

CONTACT:

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


NATIONAL AUSTRALIA: Scottish Unit Shuts Down 32 Branches
--------------------------------------------------------
National Australia Bank's (NAB) Scottish subsidiary Clydesdale
Bank announced last week the closure of another 32 branches over
the next four months, The Scotsman reports.

The closures involve 11 full-time and 21 part-time branches
located mainly in Glasgow and Edinburg suburbs in the Borders.
The branches will close between January 10 and March 30, 2006.

The move will complete the bank's closure program, which sees it
presence slashed from 217 to 153.

Clydesdale's chief operating officer David Thornburn said there
have been no compulsory redundancies as a result of the
clsoures. He added that majority of the affected workers will be
transferred to another branch or chose to avail of NAB's
voluntary retirement package.

The bank has written to customers of the affected branches
explaining the decision and setting out how it will continue to
provide services. The letters name the branches where customers'
accounts will be managed and give details of the closest
Clydesdale cash point.


NORTHCOTE HOLDINGS: Enters Liquidation
--------------------------------------
At a general meeting of Northcote Holdings Pty Limited held on
Oct. 6, 2005, the following Special Resolution was passed:

That the company be wound up as a Members' Voluntary
Liquidation.

Dated this 7th day of October 2005

W. C. Pinkstone
Liquidator
49 Juvenis Avenue
Oyster Bay NSW 2225


OVERSEAS PERIODICALS: Members, Creditors to Get Wind Up Report
--------------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Overseas Periodicals Pty Limited will be held on
Nov. 15, 2005, 10:00 a.m. at the offices of Lawler Partners,
Level 7, 1 Margaret Street, Sydney.

AGENDA

To present the Liquidator's account on the winding up of the
Company, and to hear any explanations that may be given by the
Liquidator.

Dated this 30th day of September 2005

C. Wykes
Liquidator
c/o Lawler Partners
Level 7, 1 Margaret Street
Sydney NSW 2000


PRAVDA ENTERPRISES: Creditors Confirm Liquidators' Appointment
--------------------------------------------------------------
Notice is given that at a meeting of Pravda Enterprises Pty
Limited held on Oct. 5, 2005, members resolved to wind up the
Company, and appointed Matthew L. Joiner and Gerald T. Collins
Joint and Several Liquidators for such purpose.
Creditors confirmed the Liquidators' appointment at a creditors'
meeting held that same day.

Dated this 11th day of October 2005

Gerald T. Collins
Matthew L. Joiner
Joint Liquidators
Horwath BRI Brisbane
Chartered Accountants
Level 4, 370 Queen Street
Brisbane Qld 4000


PREVENT BREAKDOWN: Court Releases Winding Up Order
--------------------------------------------------
On Oct. 7, 2005, the Federal Court of Australia, NSW District
Registry ordered the winding up of Prevent Breakdown Maintenance
Pty Limited, and appointed Stephen James Parbery to be
Liquidator for such winding up.

Dated this 11th day of October 2005

Stephen J. Parbery
c/o PPB Chartered Accountants and Business Reconstruction
Specialists
15th Floor, 25 Bligh Street
Sydney NSW 2000
Phone: 02 9233 4955
Fax:   02 9221 1310


ROUSSEL TRADING: Schedules Final Meeting November 15
----------------------------------------------------
Notice is given a meeting of the members of Roussel Trading Co
Pty Limited will be held on Nov. 15, 2005, 10:00 a.m. at the
offices of Smith Hancock, to present the Liquidator's account
showing how 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 11th day of October 2005

P. Hillig
Liquidator
Smith Hancock Chartered Accountants
Level 4, 88 Phillip Street
Parramatta NSW 2150


UNDERA PTY: Liquidator to Distribute Company Assets
---------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Undera Pty Limited held on Oct. 14, 2005, the following
special resolution was passed:

(1) That the Company be wound up as a members' voluntary winding
up, and that Mary Anne Traversa be appointed Liquidator for the
winding up, and

(2) That the Liquidator may divide amongst the members (in kind,
the whole or any part) the Company assets (whether they consist
of property of the same kind or not).

Dated this 14th day of October 2005

Mary Anne Traversa
Liquidator
2nd Floor, 306 Little Collins Street
Melbourne Vic 3000


WARRAWEE SECURITIES: Members Agree to Close Shop
------------------------------------------------
At an Extraordinary General Meeting of Warrawee Securities
(Seaforth) Pty Limited held on Oct. 13, 2005, Antony de Vries
and Riad Tayeh were appointed as Joint and Several Liquidators
for the winding up of the Company.

Dated this 13th day of October 2005

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


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

BLUEBELL INTERNATIONAL: Issues Debt Claim Notice
------------------------------------------------
Notice is hereby given that the creditors of Bluebell
International Limited (In Members' Voluntary Liquidation) are
required on or before December 5, 2005, to send in their names,
addresses and particulars of their debts or claims in accordance
with Form 63A of the Companies (Winding-up) Rules, and the name
and address of their solicitors, if any, to the undersigned
Liquidators of the said Company.

If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors 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 before such debts are proved and/or from
objecting to any distribution made before such priorities are
established.

Dated this 3rd day of November, 2005

(Sd.) NATALIA K M SENG
(Sd.) SUSAN Y H LO
Joint and Several Liquidators
28/F., Bank of East Asia Harbour View Centre
56 Gloucester Road
Wanchai
Hong Kong


EASYTECH HOLDINGS: Court Issues Winding Up Order
------------------------------------------------
Easytech Holdings Limited, whose office address is located at
2/F (Portion) Block A, B & C, Phase 1 Allway Gardens Tsuen Wan
New Territories, issued a winding up order notice in the high
court of the Hong Kong Special Administrative Region Court of
First Instance on October 24, 2005.  

Date of Presentation of Petition: August 19, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


FATE ELECTRONIC: Court Bans Former Director
-------------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court of First Instance has ordered on September 29, 2005, that
Mr. Tong Yee Fai, the former director of Fate Electronic Company
Limited and Newtone Electronics Company Limited, shall not,
without leave of the court,

a) be a director of a company

b) be a liquidator of a company;

c) be a receiver or manager of a company's property or

d) in any way, whether directly or indirectly, be concerned or
take part in the promotion, formation or management of a
company, for a period of 5 years effective from the beginning of
the 21st day after the date of the Order and that costs of the
action, including costs of the hearing on 29 September 2005 be
to the Official Receiver, to be taxed if not agreed.

Official Receiver
The Applicant

The address of the Applicant is 10th Floor, Queensway Government
Offices, 66 Queensway, Hong Kong
Ref.: L71/905/1999
Phone: 2867 1034
Fax: 3105 0435

Dated this 4th day of November 2005.


FAVOURITE LIMITED: To Undergo Winding Up Process
------------------------------------------------
Favourite Limited, whose office address is located at C/O Ernst
& Young Trust Corporation (BVI) Limited P.O. Box 3340 Road Town
Tortola British virgin Islands, issued a winding up order notice
in the high court of the Hong Kong Special Administrative Region
Court of First Instance on October 24, 2005.

Date of Presentation of Petition: July 21, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


GOLDEN BUDDA: Prepares to Cease Operations
------------------------------------------
Golden Budda Jewellery Departments Store Limited, whose office
address is located at Unit 2201-2 22/F Chinachem Johnston Plaza
178-186 Johnston Road Wanchai Hong Kong, issued a winding up
order notice in the high court of the Hong Kong Special
Administrative Region Court of First Instance on October 26,
2005.

Date of Presentation of Petition: August 22, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


GUANGDONG SECURITIES: China Shuts Down Brokerage Firm
-----------------------------------------------------
The China Securities Regulatory Commission has ordered to cancel
the business license of Guangdong Securities Co. in Beijing's
reform of the troubled industry, according to Reuters.

According to the report, the mid-sized brokerage firm had lost
too much money in its stock market trading.

The commission has commissioned the newly created China
Securities Investor Protection Fund for the trusteeship and
liquidation of the securities firm.

The China Daily newspaper reported in October that two managers
of the state-owned company was accused of embezzling CNY315
million (US$39 million).

CONTACT:

China Securities Regulatory Commission,
Tower A of Fukai Building
No. 19 Finance Street, Xicheng District
Beijing 100032 PRC
Fax: 010-88061504
E-mail: du_dan@csrc.gov.cn


LUENROY LIMITED: Court Orders Winding Up
----------------------------------------
Luenroy Limited, whose office address is located at Flat B 17/F/
Block 1 Hillville Terrace 28 Tin Kwong Road Kowloon, issued a
winding up order notice in the high court of the Hong Kong
Special Administrative Region Court of First Instance on October
26, 2005.

Date of Presentation of Petition: August 18, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


MARGAUX FINANCE: Appoints Liquidators, Committee of Inspection
--------------------------------------------------------------
Margaux Finance Limited announced the appointment of liquidators
and a committee of inspection in the High Court of the Hong kong
Special Administrative Region Court of First Instance.

Registered Office: 5/F., Tien Chu Commercial Building, 173-174
Gloucester Road, Wanchai, Hong Kong.

Joint & Several Liquidators' Names: Messrs. Joseph Lo Kin Ching
and Lai Kar Yan (Derek)

Liquidators' Address: 26th Floor, Wing On Centre, 111 Connaught
Road Central, Hong Kong.

Members of a Committee of Inspection
   (a) Fair Capital Properties Limited
   (b) Terrific Hit Holdings Limited
   (c) Win Chance Limited
   (d) Bank of China (Hong Kong) Limited
   (e) Messrs Tsang Chau and Shuen

Date of Appointment: October 3, 2005

Dated this 4th day of November 2005

JOSEPH LO KIN CHING
LAI KAR YAN (DEREK)
Joint and Several Liquidators
26th Floor, Wing On Centre, 111 Connaught Road Central, Hong
Kong.


PROSTICKS INTERNATIONAL: Net Loss Narrows to HK$3.3 Mln
-------------------------------------------------------
Prosticks International Holdings Limited posted a net loss of
HK$3.285 million for the first nine months of 2005, versus a net
loss of HK$8.513 million a year earlier, Infocast reports.

Loss per share (LPS) was 0.5 cent. No third quarter was
declared.  

The Group is principally engaged in the development, production
and distribution of financial software products in Hong Kong.

CONTACT:

Prosticks International Holdings Limited
15th Floor, Asia Financial Centre
120 Des Voeux Road
Central Hong Kong
Phone: 28668630  
Fax: 28668650  
Web site: http://www.prosticks.com.hk


STANDARD INTERNATIONAL: To Undergo Liquidation
----------------------------------------------
Standard International Group Limited, whose office address is
located at Units 1-6 8/F Chow Tai Food Centre 580 Nathan Road
Mongkok Kowloon, issued a winding up order notice in the high
court of the Hong Kong Special Administrative Region Court of
First Instance on October 24, 2005.

Date of Presentation of Petition: August 6, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


WAH KEUNG: Enters Bankruptcy Proceedings
----------------------------------------
Notice is hereby given that the bankruptcy order against Chan
Wah Kwong trading as Wah Keung Shoes Company were made on
October 26, 2005.

All debts due tot he estates should be paid to the receiver.

Dated this 4th day of November 2005.

ET O'Connell
Official Receiver


* China Closes 15 "High Risk" Securities Firms
----------------------------------------------
The China Securities Regulatory Commission (CSRC) has closed
down 15 securities firms with high business risks in a campaign
to clean-up irregularities in the country's problem-plagued
securities sector, Xinhua News reports, citing CSRC Vice
Chairman Zhuang Xinyi.

Many securities firms were found in debt, due to heavy financial
losses caused by investment in the stock markets and
mismanagement, which experts say would have severe implications
on the country's 16-year-old securities market.

The CSRC has investigated 45 cases of irregularities involving
securities firms since last August, and given administrative
punishment to some firms for their offenses against rules.

People suspected of criminal offenses have been investigated and
punished by the country's judicial departments.


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

INDIAN OIL: To Set Up New Facility in Gujarat
---------------------------------------------
Indian Oil Corporation (IOC) will set up a four-million-barrel
storage and crude blending facility at Mundra in Gujarat to
overcome the "handicap" of processing sweet crude, Business
Standard reports.

IOC is stepping up efforts to expand its operations to compete
with rival Reliance Industry, which can process a wide variety
of crude.

According to IOC executives, the Mundra facility would store 4
million barrels of crude oil and would be commissioned by April
next year. The company will blend various varieties of crude
there and then transport it to its refineries.

IOC processes about 35-40 varieties of crude oil. It is
upgrading its refineries in order to enable them to handle all
types of crude, particularly of the heavy and sour varieties.
This will help the company take advantage of flexible crude
sourcing and higher gross refinery margins accruing thereon.  
  
CONTACT:

Indian Oil Company
G, Indian Oil Bhavan, 9, Ali Yavar Jung Marg,
Bandra E, Mumbai
400051 Maharashtra
Phone: 26427363
Fax: 26443880


INDIAN OIL: Merger with IBP Hits Roadblock
------------------------------------------
The merger between Indian Oil Corporation (IOC) and IBP Limited
will face further delays, Business Standard reports.

The merger has hit another snag, as the government has asked IOC
to make a presentation to a committee of secretaries. The
presentation was seen as a way out of a deadlock between the
finance and the petroleum ministry on the swap ratio.

The finance ministry objected to the swap ratio since the
government equity in IOC would decrease by about 1.9 percent
post-merger. At present, the government holds 82.03 percent
stake in IOC.  

An IOC executive said the Cabinet reportedly granted an in-
principle approval to the merger, but the decision was yet to be
conveyed to the company.  
  
Executives also said the swap ratio under the Companies Act did
not require any government approval, but it was sent to the
Cabinet since the Union government was the biggest shareholder
in IOC.  
  
The subscriptions of IOC and IBP have behaved according to the
swap ratio approved by the boards of the two companies. The
companies had decided that IBP Ltd shareholders would get 125
IOC shares for every 100 IBP shares.


MANGALAM TIMBER: Employees Stage Industrial Action
--------------------------------------------------
Mangalam Timber Products Ltd has informed the Exchange that the
workmen/workmen staff employed in the Company's Factory situated
at Nabarangpur, Orissa, led by few office bearers of the
Employee's Union, have gone for an illegal lightening strike on
and from "B" Shift on October 31, 2005 without any reason.

The workmen led by the Union office bearers have also obstructed
the loyal employees of the Company who intended to come to the
work place.

The company has further informed that the management is trying
its level best to resolve the matter.

CONTACT:

Birla Building 7th Floor
9/1, R N Mukherjee Road
Kolkata - 700001
Telephone: 033-22438706/07
Fax: 22438709
E-mail: mangalam.cal@gncal.globalnet.ems.vsnl.net.in


RANBAXY LABORATORIES: Shareholders OK Sale of Businesses
--------------------------------------------------------
Ranbaxy Laboratories Ltd has informed the National Stock
Exchange of India Limited of the result of the Postal Ballot
conducted in regard to ordinary resolution under section 293 (1)
(a) of the Companies Act of 1956 authorizing the BODs to
divest/sell the Allied Businesses portfolio of the Company
consisting of (1) Ranbaxy Fine Chemicals Limited (a wholly owned
subsidiary), (2) Animal Health Care business and (3) Diagnostic
Business.

The details of the results of the postal ballot is as follows :

(a) No. of valid ballots received in favor of the resolution-
5326;

(b)No. of votes cast in favor of Resolution-
160,559,936(99.94%);

c)No. of valid ballots received against the resolution-115;

d)No. of votes cast against the resolution-88,395(0.06%);

e) Total Number of valid ballot received -5441;

f) Total No. of Votes cast- 160,648,331(100%);

g) Number of Invalid ballots (unsigned/unticked/ticked both the
columns)- 234.

Thus the resolution for which the poll was conducted stand
approved by the shareholders.

CONTACT:

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


THOMAS COOK: Taps European Consultant to Map Out Indian Sale
------------------------------------------------------------
Europe-based Boston Consultancy Group was appointed to map out
the sale of 60 percent of Thomas Cook India, The Economic Times
reports.

Earlier, several bidders, including Indian travel companies like
Kuoni India, Cox& king, TUI and private equity funds Blackstone,
ICICI Venture Funds and Carlyle, were reportedly interested in
acquiring a stake in Thomas Cook's Indian arm.

The sell-off, however, did not make much headway due to
differences on valuations between the German parent and the
potential buyers.

The German parents own 60% of Thomas Cook India through Thomas
Cook Overseas, while FIIs own 11.71%, SBI 8.29% and the
remaining 20% is with the public. Thomas Cook is a 50:50 JV
between German carrier Lufthansa and Karstadtquelle, another
German company. However, the German parents decided to exit the
India operations and mandated Kotak Mahindra Banking to find a
buyer.

Thomas Cook India's existing management team, headed by CEO and
managing director Ashwini Kakkar, were being advised by Ambit
Corporate Finance. The company's market cap has been pegged at
INR750-800 crore.

CONTACT:

Thomas Cook (India) Ltd.
Thomas Cook Building
Dr. DN Road, Fort
Mumbai 400001
India
Telephone: +91 22 22048556/7/8
Fax: +91 22 22871069
Web site: http://www.thomascook.co.in


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

BANK MANDIRI: Doubts Good Outcome of Paper Mill's Sale
------------------------------------------------------
State lender PT Bank Mandiri has started negotiations with
potential investors on the sale of a Borneo pulp mill, the
subject of argument between J.P. Morgan and a Singapore firm,
reports Dow Jones.

The mill, owned by local paper firm PT Kiani Kertas, was to be
sold to J.P. Morgan and Singapore firm United Fiber System
Limited (UFS) from a consortium led by Prabowo Subianto for
IDR6.05 trillion last June 2005.

When the agreement was discontinued in August, both J.P. Morgan
and UFS tried to negotiate with Mr. Subianto on the takeover of
the mill. UFS, which has been operating the mill under a
temporary contract since that time, seems to be the preferred
bidder.

But Kiani Kertas creditor Bank Mandiri is concerned that talks
are going nowhere, and plans to intervene if positive results
are not obtained in the near future, stating that many investors
are interested in taking over Kiani Kertas.

Bank Mandiri corporate Secretary Ekoputro Adijayanto said that
they have begun initial negotiations with other investors over
the proposed takeover of the Kiani Kertas mill.

CONTACT:

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


BANK MANDIRI: Standard & Poor's Upgrades Debt Rating
----------------------------------------------------
Global credit rating agency Standard & Poor's (S&P) raised its
debt ratings for Indonesian lender PT Bank Mandiri, the Jakarta
Post reports.

Because of reduced risk in its ability to service its
obligations, Bank Mandiri's ratings were raised one level to
"BB-" from "B+", with a "stable" outlook.

S&P said it raised the bank's credit ratings based on the
consideration that Indonesia, despite being under recent
political and economic stresses, is less likely to restrict
access to the foreign exchange the firms need to service their
debts.

According to the rating service, companies considered well-
insulated from direct and indirect sovereign risk may even
achieve a foreign-currency rating that exceeds the sovereign
foreign-currency rating. Indonesia's current rating for long-
term, foreign-currency debts is "B+", or four levels lower than
the investment grade, while its long-term, local-currency credit
rating is "BB".


DANAREKSA SEKURITAS: To Raise IDR3 Tln for Infrastructure
---------------------------------------------------------
State investment and securities firm PT Danareksa Sekuritas
plans to raise IDR3 trillion from government and public funds in
2006, to aid investors to purchase land for upcoming
infrastructure projects, reports the Jakarta Post.

According to Danareksa president Lin Che Wei, firms plan to put
up a "revolving land fund" this year, where both the government
and the public could invest money; such fund would go to
acquiring land for infrastructure. The government is slated to
invest IDR600 billion into the fund this year, and the remaining
IDR2.4 trillion would be raised from public investors.

Mr. Lin added that the revolving land fund will enable
infrastructure investors to borrow money in order to purchase
land for their projects. The repayment would be made in monthly
or annual installments at a speficied interest rate.

Since the government can provide only 20% of the required
investment of IDR1.41 trillion for sufficient infrastructure
development, the remainder must be raised from the private
sector.

CONTACT:

PT Danareksa Sekuritas
Gedung Danareksa
Jl Medan Merdeka Selatan no. 14
Jakarta 10110, Indonesia
Phone: (+62-21)-3509-777
       (+62-21)-3509-778
Fax:   (+62-21)-3509-778


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

FUJITSU LIMITED: To Make Graphics Ships for S3
----------------------------------------------
S3 Graphics and Fujitsu Ltd have announced that Fujitsu will be
producing the new range of S3 Graphics' graphics processors,
using Fujitsu's 90nm process technology to enable the
realization of graphics processors, according to NE Asia Online.

Fujitsu is expected to manufacture the "Chrome" graphics
processor family, said to be S3 Graphics' newest and most
advanced 3D graphics processors using its 90nm process
technology, which yields silicon that runs both 25% faster and
with power savings of at least 25% compared to chips made with
conventional 90nm processes. In benchmark tests, the new silicon
produced by Fujitsu showed up to 75% performance improvement
over earlier S3 Graphics generations, enabling the new range of
graphics processors to offer richer high-definition video
features and more vibrant 3D graphics.

The launch of a 300mm wafer facility at Fujitsu's Mie plant in
Mie prefecture, Japan, in April 2005 has expanded and enhanced
its capability to product CMOS semiconductor products for its
customers. Fujitsu will manufacture the S3 Graphics chips at its
Mie facility using its 90nm process technology. In addition, S3
Graphics is planning to continue its foundry relationship with
Fujitsu for products beyond the 90nm generation.

CONTACT:

Fujitsu Limited
Shiodome City Center
1-5-2 Higashi-Shimbashi
Minato-ku, Tokyo
Japan, 105-7123
Phone: +81 (0) 3-6252-2176
Fax: +81 (0) 3-6252-2783
Web site: http://www.fujitsu.com


JAPAN AIRLINES: Launches New Corporate Reforms, Cut Wages
---------------------------------------------------------
The JAL Group, faced with a continuing difficult business
environment, is launching a new initiative of corporate reforms
including additional investment in safety systems, customer-
focused service to increase competitiveness, restructuring of
international passenger operations, and cost restructuring.

The new plans, announced on November 7, are aimed at creating a
airline group with enhanced customer appeal and a stronger
corporate base in time for 2009, a crucial year for Japan's
aviation industry. That year will see the expansion of Tokyo's
predominantly domestic Haneda Airport with more international
services and the extension of Narita Airport's second runway
enabling more arrivals and departures there, all adding up to a
major business chance for JAL's future growth.

1. Securing safety and reliability - rebuilding the safety
foundation

JAL will invest about 60 billion yen in safety related systems
and measures between FY2006 and FY2010. This investment includes
the strengthening of Information Technology systems and improved
maintenance facilities in support of flight safety, such as
additional maintenance docks at Narita for B777 aircraft.

Other related plans include an increase in the number of
maintenance technicians and a review of maintenance training
programmes.

Fleet modernization plans include the introduction of 23 new
aircraft between 2006 and March 2009. These include 4 Boeing
787s and 19 Boeing 737-800s. Other passenger service improvement
plans include upgraded in-flight entertainment systems and in-
flight meals.

JAL will accelerate the retirement of older 747 models, (the 200
and 300 series) completing the process during FY2009. Currently
JAL has 30 aircraft of this type in service.

Between 2006 and 2010 JAL will invest 65 billion yen in service
related equipment improvements.

JAL will adopt the concept of Universal Design/Universal Service
in developing and providing products and services. This will be
introduced to airport facilities and aircraft cabin
specifications. We will assign qualified "Service Care Staff" at
airports.

Joining the oneworld global alliance will enable JAL to expand
the network, e-ticket cooperation, mutual use of airport
lounges, link-up of mileage programmes and smooth through check-
in services for customers.

CONTACT:

Japan Airlines
Telephone: 81-3-5460-3109
Fax: 81-3-5769-6487
E-mail: geoffrey.tudor@jal.com
        stephen.pearlman@jal.com  
Web site: www.jal.com/en/corporate/


JAPAN AIRLINES: Details Restructuring Scheme
--------------------------------------------
From fiscal year 2006, Japan Airlines (JAL) plans further
restructuring of international routes and reduction in aircraft
size and capacity.

In fiscal year 2007-2008, JAL will expand routes served by
middle and small size aircraft, mainly on Japan-China routes. By
continuing fleet downsizing JAL will increase the percentage of
middle and small size aircraft from the present 40.0% to about
60% by the end of fiscal year 2008 (March 2009). From fiscal
year 2009, JAL will expand its fleet in order to capitalize on
the start of international services from Haneda and the increase
of slots at Narita, and proactively expand into growth markets.

As announced in the current medium term business plan, JAL's
management is focusing on increasing efficiency and cost-
effectiveness through simplification, standardization and
equalization of the business process, aiming at an expansion of
e-business and improved cost structure reform, boosted by
participation in the oneworld global alliance.

4. Additional contingency measures

- Board members remuneration will be reduced further, ranging
from 23% to 40%.

- Monthly salary cuts for employees of JAL International, JAL
Domestic, JAL Corporation and JAL Sales, averaging 10% will be
introduced from January 1st 2006 to March 2008. We will hold
negotiations with the labor unions.

CONTACT:

E-mail: geoffrey.tudor@jal.com
        stephen.pearlman@jal.com
Telephone: 81-3-5460-3109
Fax: 81-3-5769-6487
Web site: www.jal.com/en/corporate

This is a company press release.


JAPAN AIRLINES: Launches Double Mileage Campaign
------------------------------------------------
Japan Airlines (JAL) has launched one of its biggest ever-
frequent flyer mileage campaigns - the `All JAL' Double Mileage
Campaign. Between December 1st 2005 and March 31st 2006, the
almost 18 million members worldwide of JAL's frequent flyer
program, the JAL Mileage Bank (JMB), will be able to earn double
the flight mileage normally offered when they travel on JAL
Group airlines' extensive global network.

During the campaign period, double flight mileage can be
accumulated in all classes on all of JAL Group's international
and Japan domestic flights, as well as code share flights
operated by partner airlines booked under the JAL (JL) flight
number. JAL offers travelers a global network that serves some
34 countries and 206 airports, and the largest domestic network
in Japan,

JMB members are simply required to register for the campaign in
advance of travel through either the JAL Website or JMB Center
applicable to their JMB region. The campaign only applies to
travel conducted within the campaign period and JAL fares
eligible for JMB mileage accumulation. The offer cannot be
combined with other flight mile bonus offers. Normal rules and
conditions for mileage accumulation apply. Full details on the
`All JAL' Double Mileage Campaign can be found on www.jal.com
.There is no better time to be a member of JMB and fly JAL.

As a JMB member, there are many ways to earn and burn JMB miles.
Miles can be earned by flying on JAL or JMB partner airlines,
such as American Airlines, British Airways and Cathay Pacific;
by staying at one of over 7,600 JMB partner hotels worldwide; or
by using one of JMB's partner companies offering such services
as car rental and cellular phone rental.

Accumulated mileage can be exchanged for a wide range of
exciting awards entitling members to free travel on JAL and JMB
partner's air networks, international flight upgrades, and free
nights stay at any one of over 100 hotels worldwide. Exclusive
services and benefits are offered to JAL's most frequent flyers
through the JMB `FLY ON' program and JAL Global Club (JGC).

JAL Mileage Bank enrollment is free. Membership application can
be made online at www.jal.com.

CONTACT:

E-mail: geoffrey.tudor@jal.com
        stephen.pearlman@jal.com
Telephone: 81-3-5460-3109
Fax: 81-3-5769-6487
www.jal.com/en/corporate/

This is a company press release.


JAPAN AIRLINES: 2Q/2005 Profit Down 79% as Fuel Costs Surge
-----------------------------------------------------------
Japan Airlines Corporation had a 79 percent decline in second-
quarter profit as jet fuel prices rose to a record, Bloomberg
News reports. The carrier said it will have a full-year loss and
won't pay a dividend.

Net income fell to JPY26.3 billion ($223 million) in the three
months ended September 30, from JPY123.7 billion in the same
period in 2004. The second-quarter figures were derived from
first half results the Tokyo-based company released on Monday.

Japan Airlines expects a loss of JPY47 billion for the year
ending March from an earlier estimate of JPY17 billion profit.


KONICA MINOLTA: To Drastically Cut Digital Camera Division
----------------------------------------------------------
Konica Minolta Holdings Inc. will cut its photo imaging division
to cope with slower growth in domestic demand and tougher price
competition, Japan Today reports.

As part of its business-restructuring plan, the company will
slash 3,300 jobs out of its total workforce of 33,000.

In its medium-term business plan announced in March, Konica
Minolta plans to concentrate its digital camera business on
production of high-value-added products, such as digital single-
lens reflex cameras, over four years starting in fiscal 2005.

CONTACT:

Konica Minolta Holdings Inc.
Marunouchi Center Building
1-6-1 Marunouchi, Chiyoda-ku
Tokyo, Japan
Web site: www.konicaminolta.net


KONICA MINOLTA: Expects JPY47-Bln Net Loss in 2005/06
-----------------------------------------------------
Konica Minolta Holdings Inc. expects to book JPY90 billion
(US$768 million) in restructuring costs in the full year as it
trims its ailing photographic film and camera operations,
according to Reuters.

The move would help speed up a shift of resources to more
promising areas such as color office copiers and liquid crystal
display materials, and away from the deteriorating market for
analogue film.

The company now expects to post a group net loss of JPY47
billion in 2005/06, down from its previous forecast for a profit
of JPY23 billion.

In light of the net loss, Konica Minolta said it would not pay a
dividend for the first or second half. It had previously
estimated paying 10 yen per share for the full year.


MITSUI ENGINEERING: Results Swing to JPY944-Mln Loss
----------------------------------------------------
Mitsui Engineering & Shipbuilding Co. incurred a group net loss
of JPY944 million for the year ended September 30, against a net
profit of JPY10 million a year earlier, Kyodo News reports.

The company attributed the loss to its introduction of asset
impairment accounting rules and a sales decline.

Consolidated sales for the first half declined 5.3% to JPY222.47
billion as sales were booked for ships ordered when ship prices
were lower.

Mitsui Engineering & Shipbuilding Ltd
6-4, Tsukiji 5-chome
Chuo-ku, Tokyo 104-8439
Japan
Public Relations Dept.
Phone: 81-3-3544-3147
Fax: 81-3-3544-3050
E-mail: prdept@mes.co.jp


SEIBU RAILWAY: Tsutsumi Brothers Find Prospective Partners
----------------------------------------------------------
The two members of the Seibu group founding family have found a
few prospective financial institutions to raise over JPY500
billion for their plan to buy out Seibu Railway Co., which was
once controlled by their estranged brother Yoshiaki, Japan Today
reports.

Mr. Yuji Tsutsumi and his brother Seiji said that they plan to
buy out Seibu Railway through a public tender offer, a move seen
as going against a rehabilitation plan of the railway's current
management.

CONTACT:

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

SEIYU LIMITED: Shares Up 6.9% on Wal-Mart Move
----------------------------------------------
Shares in Seiyu Ltd. surged as much as 6.9 percent after Wal-
Mart appointed one of its top U.S. executives to turn around the
struggling Japanese retailer, The Star Online reports.

The company's board has approved the appointment of a Wal-Mart
executive Edward Kolodzieski to become its new President and
Chief Executive as of December 15.

Wal-Mart, which is taking control of Seiyu, will raise its stake
to almost 54 percent from 42.48 percent.

Seiyu, which had losses the past two business years, on November
2 widened its full-year loss forecast to JPY13.5 billion from
JPY7.5 billion.

CONTACT:

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


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

DOOSAN GROUP: Park Yong-sung Quits Chairmanship
-----------------------------------------------
Chairman Park Yong-sung and Vice Chairman Park Yong-maan stepped
down from their post in Doosan Group amid the plans of the
prosecution to announce the results of its probe into the Park
family's alleged involvement in slush funds worth KRW80 billion,
The Korea Herald reveals.

Park Yong-sung also quit as president of the Korea Chamber of
Commerce and Industry four months prior to the expiration of his
term.

"I take full responsibility for everything, and step down from
the group management as well," the former chairman was quoted by
group officials as saying.

However, the chairman will retain his international positions,
including his membership of the International Olympic Committee,
chairman of the International Chamber of Commerce and head of
the International Judo Federation, Doosan officials said.

The chairman asked the chief executives of Doosan's units to
come up with an emergency management committee to discuss how to
establish a new governance structure, a high-ranking Doosan
official said.

The nation's 10th largest conglomerate will operate under the
emergency committee to achieve transparent management, Doosan
said.

Prosecutions intensely investigated the resigned chairman and
his younger brother and other family members over the past
several weeks on its alleged involvement in creating the alleged
slush funds.

To view a full copy of a Press Release on the resignation, click
http://bankrupt.com/misc/DoosanGroup110705.pdf


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

AIC CORPORATION: Scraps Proposed Private Placement
--------------------------------------------------
AIC Corporation Berhad (AIC) furnished Bursa Malaysia Securities
Berhad details of the proposed private placement of up to 10
percent of the issued and paid-up share capital of the Company
to placees to be identified

Further to the announcement made on May 20, 2005, on behalf of
the Board of Directors of AIC, RHB Sakura Merchant Bankers
Berhad advised that the Company, after taking into consideration
current market conditions and the expiry of the final extension
of time granted by the Securities Commission to implement the
Proposed Private Placement by November 5, 2005, has decided not
to proceed with the Proposed Private Placement.

This announcement is dated 2 November 2005.

CONTACT:

AIC Corporation Berhad  
Wisma AIC, Lot 3, Persiaran Kemajuan
Seksyen 16, 40200 Shah Alam
Selangor Darul Ehsan
Malaysia
Phone: +603 5543 1413
Fax: +603 5543 2045
Email: General Enquiries: info@aic.com.my
       Corporate Affairs Matters: investor.relations@aic.com.my


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

Date of buy back: November 2, 2005

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

Total number of shares purchased (units): 113,300

Minimum price paid for each share purchased (MYR): 0.690

Maximum price paid for each share purchased (MYR): 0.720

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 113,300

Number of shares purchased which are proposed to be cancelled
(units):  
Cumulative net outstanding treasury shares as at to-date
(units): 16,637,100

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

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


BUKIT KATIL: Issues Status Report of Financial Condition
--------------------------------------------------------
Bukit Katil Resources Berhad (BKATIL) issued to Bursa Malaysia
Securities Berhad a monthly announcement on Bukit Katil's plan
to regularize its financial condition to Practice Note 4/2001
(PN4).

Further to the above, Avenue Securities Sdn Bhd, had announced
on behalf of the Board of Directors' of the Company, that on
October 13, 2005, the Company has entered into a conditional
restructuring agreement (Restructuring Agreement) wherein the
Company and Foremost View Sdn Bhd, Kang Kim Poh, Low Teck Sin,
Kang Kim Sin and Heng Lai Yoong (collectively, the Vendors) have
agreed in principle to undertake the Proposed Restructuring
Scheme with the intention of restoring the Company onto stronger
financial footing via inter-alia, the injection of new viable
businesses, a capital restructuring exercise and a debt
restructuring exercise.

Pursuant to the Restructuring Agreement, the Company and the
Vendors have agreed to incorporate a new company (NewCo) to
serve as the holding company and to facilitate the
implementation of the Proposed Restructuring Scheme.

Pursuant to Paragraph 4.1(b) of the Practice Note 4/2001, the
Company advised that other than as mentioned above and as
previously announced, there has been no further development on
the status of the company's proposed restructuring scheme.

CONTACT:

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


KENMARK INDUSTRIAL: Undertakes Warrant Exercise
-----------------------------------------------
Kenmark Industrial Co. (M) Berhad advised that its additional
14,360,000 new ordinary shares of MYR1.00 each arising from the
exercise of 14,360,000 warrants 2001/2006 will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Tuesday, November 8, 2005.

CONTACT:

Kenmark Industrial Co., Ltd.   
4, Jalan Wawasan Ampang 1/2
Ampang Selangor 68000
Malaysia
Telephone: 03-42948691   
Fax: 03-42948692


KILANG PAPAN: Awaits SC Decision of Revised Restructuring Scheme
----------------------------------------------------------------
Further to our announcement dated October 3, 2005, AmMerchant
Bank Berhad (a member of AmInvestment Group), on behalf of
Kilang Papan Seribu Daya Berhad (Special Administrators
Appointed) (KPSD), informed Bursa Malaysia Securities Berhad
that KPSD is currently waiting for approvals from the Securities
Commission and Foreign Investment Committee on its revised
Proposed Restructuring Scheme.

Save as disclose above, there is no material change to the
Company's plan to regularize its financial condition.

This announcement is dated 2 November 2005.

CONTACT:

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


MAXIS COMMUNICATIONS: Issues New Shares for Listing, Quotation
--------------------------------------------------------------
Maxis Communications Berhad advised that its additional 223,000
new ordinary shares of MYR0.10 each issued pursuant to the
Employee Share Option Scheme will be granted listing and
quotation Bursa Malaysia Securities Berhad with effect from 9:00
a.m., Wednesday, November 9, 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


MENTIGA CORPORATION: Unit Enters Into 3rd SA
--------------------------------------------
Mentiga Corporation Berhad (Mentiga) issued to Bursa Malaysia
Securities Berhad a monthly announcement pursuant to Practice
Note No. 4/2001 in relation to Paragraph 8.14 of the Listing
Requirements of the Bursa Malaysia Securities Berhad.

Further to the status report made on October 3, 2005, Mentiga
advised the Exchange that the Company is still in the midst of
preparing and collating information required by Securities
Commission.

On behalf of Mentiga, Commerce International Merchant Bankers
Berhad (CIMB) had on October 18, 2005 announced that Selat
Bersatu Sdn Bhd (SBSB), a 56 percent owned subsidiary of Mentiga
and Karli Boejamin (collectively referred to as Vendors) and
Delloyd Plantation Sdn Bhd (DPSB) and Taipan Hectares Sdn Bhd
(collectively referred to as Purchasers) had entered a Third
Supplemental Agreement (Third SA) to supplement the Sale and
Purchase Agreement (SPA) and Second Supplemental Agreement
(Second SA) in respect of the following:

(i) To extend the last date for the conditions precedent in the
SPA to be fulfilled from October 17, 2005 to January 17, 2006
(Further Extension of Time); and

(ii) The Vendors have, under the Third SA, agreed to release to
DPSB a further amount of MYR500,000 (Further Released Sum) from
MYR2.8 million (after deducting the MYR500,000 (Released Sum)
released earlier to DPSB under the Second SA) currently held by
the Vendors' solicitors as stakeholder (Stakeholder Sum) for
continued rehabilitation of the oil palm plantations belonging
to PT Rebinmas Jaya.

The Further Released Sum will be repaid to SBSB together with
the Released Sum and the balance consideration for the Proposed
Disposal in accordance with the SPA.  

Other than the above, all other terms and conditions of the SPA,
First SA and Second SA as announced on January 19, 2005, May 3,
2005 and July 18, 2005 shall continue to be valid and binding.

CONTACT:

Mentiga Corporation Berhad
Peramu Jaya
26607 Pekan, Pahang Darul Makmur 50400
Malaysia
Telephone: +60 443 9411
Fax: +60 443 1233


MYCOM BERHAD: Sees No Change in Restructuring Scheme  
----------------------------------------------------
The Board of Directors of Mycom Berhad advised Bursa Malaysia
Securities Berhad that there has been no material change in
development to the implementation of the restructuring scheme
following the last announcement on October 28, 2005.

This announcement is dated 2 November 2005.

CONTACT:

Mycom Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Telephone: +60 3 2072 3993
Fax: +60 3 2072 3996


PACIFIC & ORIENT: Issues Shares Buy Back Notice
-----------------------------------------------
Pacific & Orient Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:  
   
Date of buy back from: October 21, 2005

Date of buy back to: October 31, 2005

Total number of shares purchased (units): 73,200

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

Maximum price paid for each share purchased (MYR): 1.830

Total amount paid for shares purchased (MYR): 132,868.22

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

Number of shares purchased retained in treasury (units): 73,200
Total number of shares retained in treasury (units): 7,657,789

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

Total issued capital as diminished:  

Date lodged with registrar of companies: November 2, 2005

Lodged by: Pacific & Orient Berhad

CONTACT:

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


PACIFIC & ORIENT: New Shares Up for Listing, Quotation
------------------------------------------------------
Pacific & Orient Berhad advised that its additional 10,000 new
ordinary shares of MYR1.00 each issued pursuant to the Employee
Share Option Scheme will be granted listing and quotation by
Bursa Malaysia Securities Berhad with effect from 9:00 a.m.,
Tuesday, November 8, 2005.


PROMTO BERHAD: Restraining Order Extended
-----------------------------------------
Promto Berhad had on October 28, 2005 announced that Promto
Berhad has been granted an extension for a further period of 90
days effective from October 25, 2005 to January 23, 2006 for the
Restraining Order pursuant to Section 176 (10) of the Companies
Act, 1965.

CONTACT:

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


SINORA INDUSTRIES: Complies With Bourse's Listing Requirement
-------------------------------------------------------------
In compliance with Paragraph 3.1(b) of PN17 of the Listing
Requirements of Bursa Securities (Bursa Securities LR), on
behalf of Sinora Industries Berhad announced that, in order to
regularize its business operations, the Company's wholly owned
subsidiary, Serijaya Sdn Bhd (Serijaya) had on October 26, 2005
entered into a log extraction contract with Rakyat Berjaya
Sendirian Berhad (RBSB) for the appointment of Serijaya as a
contractor for the proposed extraction of timber logs (Proposed
Logging).

Further details of the Proposed Logging are set out in the
announcement to Bursa Securities on October 26, 2005.

The Proposed Logging is undertaken as the Regularization Plan
(defined in paragraph 8.14C(3) of the Bursa Securities LR) as
required under PN17 of the Bursa Securities LR. In accordance
with PN 17 of the Bursa Securities LR, Sinora is required to,
amongst others, submit the Regularization Plan to the relevant
authorities for approval, or where the relevant authorities'
approval are not required, to obtain all other approvals
necessary for the implementation of the Regularization Plan
within 8 months from the date of the First Announcement.

The Proposed Logging is expected to commence in the first
quarter of Sinora's financial year ending December 31, 2006 and
to be completed within ten years from the date RBSB notifies
Serijaya in writing to commence the Proposed Logging.

The Proposed Logging is expected to be a major operation of
Sinora in the immediate future and will provide Sinora with an
immediate and major source of income.

This announcement is dated 2 November 2005.

CONTACT:

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


SOUTHERN BANK: Bourse to List, Quote New Shares
-----------------------------------------------
Southern Bank Berhad advised that its additional 554,000 new
ordinary shares of MYR1.00 each arising from the

(I) Exercise of 438,300 warrants 1996/2006 (Local Warrants)

(II) Exercise of 115,700 warrants 1996/2006 (Foreign Warrants)

will be granted listing and quotation by Bursa Malaysia
Securities Berhad with effect from 9:00 a.m., Tuesday, November
8, 2005.


SOUTHERN BANK: Buys Back New Ordinary Shares
--------------------------------------------
Southern Bank Berhad furnished Bursa Malaysia Securities Berhad
a notice of shares buy back with the following details:
   
Date of buy back: November 2, 2005

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

Total number of shares purchased (units): 1,473,700

Minimum price paid for each share purchased (MYR): 4.000

Maximum price paid for each share purchased (MYR): 4.200

Total consideration paid (MYR): 6,055,327.85

Number of shares purchased retained in treasury (units):
1,473,700

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

Cumulative net outstanding treasury shares as at to-date
(units): 46,473,200

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


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

ABS-CBN BROADCASTING: To Hold Briefing on Q3 Results Nov. 10
------------------------------------------------------------
ABS-CBN Broadcasting Corporation will be holding an Investors'
and Analysts' Briefing to discuss the Company's Third Quarter
and Nine Months 2005 Financial Results on Thursday, 10 November
2005, at 3:00PM in Training Hall B, 13/F ELJ Communications
Center, Sgt. Esguerra Ave., Quezon City.

CONTACT:

ABS-CBN Broadcasting Corp
Mother Ignacia St
Corner Sgt
Quezon City 1100
Philippines
Phone:  2 924 4101
Fax:  2 921 5888
Web site: http://www.abscbn-ir.com


ASIAN TERMINALS: Workers, Management Agree on Arbitration
---------------------------------------------------------
The workers and management of Asian Terminals have agreed to
bring their labor case before the Department of Labor and
Employment (DOLE), according to BusinessWorld.

The union and management representatives of the port operator
signed a deal last week to have their labor row settled by DOLE.

The conflict between the management and the union representing
over 250 employees arose over claims of union busting,
nonpayment of profit sharing, and nonpayment of productivity
scheme.

The workers, through the Manila Stevedoring Contractor Labor
Union and Luvimin Workers Union, subsequently filed a notice of
strike with the board on Sept. 27.

The conciliation board's executive director, Hans Leo J. Cacdac,
said the parties' decision to let Ms. Sto. Tomas decide on their
case in essence prevented potential work disruption.

"Instead of an abrasive way they opted for a peaceful resolution
through a third-party arbitrator who will review and study the
legal aspects of their case."

CONTACT:

Asian Terminals Inc.
A Bonifacio Dr., S Harbour,
Port Area, Manila , Philippines
Phone: 63 02 528 6000
Fax: 63 02 527 2467
Web site: http://www.asianterminals.com.ph


COLLEGE ASSURANCE: Planholders Create 'Plan 05 Movement'
--------------------------------------------------------
Some 200 planholders of ailing College Assurance Plan
Philippines Inc. (CAP) in Koronadal City have formed a movement
to pressure the pre-need firm to settle its obligations, SunStar
Daily reports.

The "Plan 05 Movement", headed by Koronadal Vice Mayor Jose
Ledda Jr., will study moves to force the company to pay the
tuition fees of their clients this school year.

CAP earlier filed for corporate rehabilitation before the Makati
City Regional Trial Court Branch 61.

Last month, it was allowed to temporarily suspend payments to
creditors and planholders in line with the company's petition
for rehabilitation. The court also prohibited the firm from
"selling, encumbering, transferring or disposing in any manner
any of its properties except in the ordinary course of
business". It also barred the company from paying any of its
outstanding liabilities as of Sept. 8, 2005, the date of filing
of the rehabilitation petition.

CAP had proposed an eight-year business development plan to
build up its capital to Php8.36 billion and its trust fund to
Php14.36 billion.

But despite reassurances CAP will settle its obligations,
members of the new movement is questioning the means by which
the company intends to achieve it.

The firm, in its rehabilitation plan, intends to sell again new
educational plans, sell some of its properties, and will look
for prospective foreign investors.

But the planholders doubt CAP will attract foreign investors
given its poor financial state.

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


MAYNILAD WATER: Government to Guarantee New Loan
------------------------------------------------
The national government is set to borrow and guarantee around
Php2 billion to cover the expenses of water concessionaire
Maynilad Water Services Inc., The Manila Times says.

Under an April 2005 Dent and Capital Restructuring Agreement,
state-owned Metropolitan Waterworks and Sewerage Systems (MWSS)
will borrow US$31 million from the World Bank.

The money will go to Maynilad's capital and operating expenses,
as well as plans and programs indicated in the water firm's
court-approved rehabilitation plan.

While the two-tranche loan will entitle MWSS to one-percent
handling fee for each disbursement, a review conducted by the
MWSS Regulatory Office indicated that the loan carries a
government guarantee.

The planned borrowing however goes against the Arroyo
administration's policy of doing away with government
guarantees, which in the past only bloated the public debt and
realigned already scarce public resources toward debt servicing.
With a sovereign guarantee, unpaid debts of government-owned and
-controlled corporations (GOCCs) will be shouldered by the
national government.

It will be recalled that the government earlier thumbed down a
bond float proposed by state-run National Development Co.
precisely because the firm also sought a sovereign guarantee on
the planned IOU.

CONTACT:

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


METRO PACIFIC: Plans to Buy Stakes of Foreign Firms in MNTC
-----------------------------------------------------------
Metro Pacific Corp. is considering acquiring the interests of
foreign stakeholders in Manila North Tollways Corp. (MNTC) after
the Lopez group decided it was not ready to divest itself of its
stake in the North Luzon Expressway (Nlex) project, reports The
Philippine Daily Inquirer.

Metro Pacific is looking to buy out the stakes of French firm
Egis and Australian firm Leighton in the Nlex project of MNTC.

Lopez-owned First Philippine Infrastructure Development Corp.
controls 70 percent of MNTC. Egis of France has 13 percent and
Leighton Asia Ltd. of Australia has 16.5 percent. State-owned
Philippine National Construction Corp. accounts for only 2.5
percent of MNTC.

The Lopez group earlier said it was selling its stake in MNTC,
which drew interest from the local subsidiary of Hong Kong-based
First Pacific.

Metro Pacific President Jose Ma. Lim said his company was very
interested to buy into Nlex and the Skyway project. He said his
company would like to take off from Skyway venture.

CONTACT:

Metro Pacific Corporation
10/F MGO Bldg., Legazpi cor. dela Rosa St.,
Legazpi Village 0721 Makati City, Philippines
Telephone No.: 888-0888
Fax No.: 888-0830


NATIONAL POWER: COA Questions Investment in Bonds
-------------------------------------------------
The Commission on Audit (COA) deemed the government's move to
invest bonds issued by National Power Corporation (Napocor) in
the past years as "imprudent", The Philippine Daily Inquirer
reveals.

COA said the move was not only legally questionable but also
contributory to the state's huge losses.

In a report COA said the government used borrowings, through the
flotation of bonds, to buy the Napocor debt paper. It noted that
the government incurred Php40.69 billion in liabilities to pay
for interest on the bonds it floated, but that it only earned
Php39.82 billion worth of interest income from the Napocor bonds
it bought.

The audit agency also commented that bond investments were
generally those secured with corporations of strong financial
standing. The fact that Napocor is a known heavily losing firm
made the decision to invest in the bonds unwise.

COA likewise stressed that the move of the national government,
through the Department of Finance (DOF), to invest in Napocor-
issued bonds was legally questionable. It said the DOF could not
provide sufficient legal basis to its initiative to invest in
the bonds.

The COA report said the DOF cited RA 245 as the legal basis for
the national government's move to invest in Napocor bonds. But
the auditing agency said that RA 245 authorized the national
government to engage in some borrowings and not to invest in
Napocor bonds.

The government's loss in investing in Napocor bonds is best
reflected in the fact that it absorbed P200 billion worth of
debts of the power firm to comply with the Electric Power
Industry Reform Act (Epira), which intends to develop the power
sector by, among others, cleaning the books of Napocor.

COA said the lost interest income arising from the absorption of
Napocor's debts stood at Php165.94 billion.

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/


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

CITIRAYA INDUSTRIES: Proposes Repayment Scheme to Creditors
-----------------------------------------------------------
Citiraya Industries Limited announces that the Company's
petition to appoint juducial managers and the winding up
petition presented by creditor DBS Bank Limited was heard by the
Singapore High Court on Nov. 4, 2005.

The Company has proposed the following to its creditors to
resolve its liabilities:

a) Citiraya will pay SGD35 million to its scheme creditors with
an initial payment odf SGD5 million, and the remainder payable
in equal installments over five years, at SIBOR plus 0.5% per
annum interest rate;

b) all sums recovered by the Company from actions pursued
against present and former officers relevant to any prosecution
now being pursued by the authorities, shall be for its
creditors' benefit, provided the litigation is funded by
creditors, and that it is condemned within three years of the
propsal herein becoming binding on all creditors;

c) these payment obligations will be secured via a fixed charge
over the Company's fixed assets; and

d) the credcitors shall waive all rights and claims against
Citiraya in consideration for such payments.

DBS Bank and the Company's other creditors asked for the
judicial management petition to be adjourned pending a review of
the proposal; hence, the Court adjourned the judicial management
petition and the winding up petition against the Company for
three weeks.

Citiraya Industries intends to discuss the terms of its proposal
with its creditors, with the hope of arriving at a final
agreement. The Company's present investors, Heshe Holdings
Limited and Chip Lian Investments Pte Limited, will take active
part in the discussions. The Company also hopes to reach an
agreement with its creditors before the hearing for its
petitions, so as to file a scheme of arrangement containing the
agreed terms.

By Order of the Board

Tan San-Ju
Company Secretary

CONTACT:

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


ENGELHARD PTS: Receiving Claims Until Next Month
------------------------------------------------
Notice is hereby given that the creditors of Engelhard PTS Asia
Pacific Pte Limited, which is undergoing a members' voluntary
liquidation, are required to send in their names and addresses
and the particulars of their debts or claims and the names and
addresses of their solicitors (if any) to the
Company Liquidator by Dec. 2, 2005, 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, creditors will be excluded from the benefit of any
distribution made before such debts are proven.

Teh Kwang Hee
Liquidator
c/o 2 Mistri Road, #12-01 HMC Building
Singapore 079624


FIRSTLINK INVESTMENTS: Posts EGM Notice
---------------------------------------
Firstlink Investments Limited announced that at the Company's
Extraordinary General Meeting (EGM) held on Nov. 5, 2005, the
resolutions to remove Ling Yew Kong as director, and to appoint
Wijoto Tjiptodihardjo and Beni Prananto as directors were not
passed as ordinary resolutions.

By Order of the Board

Lee Yuen Wai
Deputy Chairman

To view the Company's EGM notice, click on:

http://bankrupt.com/misc/tcrap_firstlinkinvestments110705.pdf

CONTACT:

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


INFORMATICS HOLDINGS: Appoints Company Secretary
------------------------------------------------
Informatics Holdings Limited announced that Mr. Michael Ray
Kwang How resigned as the Company Secretary on Nov. 1, 2005, and
Ms. Chen Fui Ming has been appointed to the position effective
Nov. 1, 2005.

The Company Secretaries are now the following:

1) Mr. Lau Yang Hin Simon
2) Ms. Chen Fui Ming

By Order of the Board

Lau Yang Hin Simon
Company Secretary

CONTACT:

Informatics Holdings Limited
Informatics Campus
12 Science Centre Road
Singapore 609080
Phone: 65 65625625
Fax:  65 65651371
Web site: http://www.informaticsgroup.com


NEOCORP INTERNATIONAL: In Talks to Buy Investor's Assets
--------------------------------------------------------
Neocorp International Limited announced that it had entered into
a merger agreement with Yoma Strategic Investments Limited
(YSIL) on Dec. 18, 2004; such agreement had lapsed on Oct. 31,
2005, and was not extended by YSIL.

The Company entered into a Memorandum of Understanding (MoU)
with a potential investor for the purchase of certain assets of
the Investor on terms to be agreed upon. The Company is
currently in talks with the Investor on the formal terms of the
sale & purchase agreement.

By Order of Kon Yin Tong
Company Judicial Manager

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


OCS TUNNELLING: Court to Hear Petition November 18
--------------------------------------------------
Notice is hereby given that Nishio Rent All Singapore Pte
Limited presented a winding up petition against OCS Tunnelling &
Construction Pte Limited to the Singapore High Court on Oct. 24,
2005.

The Petition is directed to be heard before the Court sitting at
Singapore on Nov. 18, 2005, 10:oo a.m.

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

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


The Petitioner's address is No. 9 Tuas Avenue 18, Singapore
638893.

The Petitioner's solicitors are SIM & WONG LLC of 24 Raffles
Place, #20-05 Clifford Centre, Singapore 048621

Dated this 27th day of October 2005

Sim & Wong LLC
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the petition
must serve on or send by post to solicitors SIM & WONG LLC
notice in writing of his intention so to do. The notice must
state the name and address of the person, or, if a firm, the
name and address of the firm, and must be signed by the person
or firm, or his or their solicitor (if any) and must be served,
or, if posted, must be sent by post in sufficient time to reach
the solicitors not later than 12:00 p.m. pf Npov. 17, 2005 (the
day before the day appointed for the hearing of the Petition).

CONTACT:

OCS Tunnelling & Construction Pte Limited
105 Sims Ave
#09-06, Singapore 387429
Phone: 65 6741 5323


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

DAIDOMON GROUP: Notifies SET of Board Meeting Results
-----------------------------------------------------
The Board of Directors' meeting number 6/2005 of Daidomon Group
Public Company Limited, in its capacity as the debtor and the
planner in accordance with the Central Bankruptcy Court's order
in the rehabilitation red case no 3848/2548, held on November 4,
2005 from 2:00 p.m. to 6:00 p.m. considered and resolved that:

(1) To approve the Company's financial statement for year 2005
and provide it with the Department of Business Development, the
Ministry of Commerce; and

(2) To approve the authorized director(s) and the planner's
operation team for selecting a new auditor to examine the
Company's financial statement quarter 1/2005 as at March 31,
2005 and file it with the Stock Exchange of Thailand before May
15, 2006.

Please be informed accordingly.

With kind regards,
Chanin Yensudchai
Planner
Daidomon Group Public Company Limited
In its capacity as the Planner

CONTACT:

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

MANAGER MEDIA: Details Trading in Securities
--------------------------------------------
Manager Media Group Public Co. Ltd. furnished the Stock Exchange
of Thailand (SET) details of its third Security Trading Report.

(1) Securities offer for sale data
   
- Securities offer for sale type: Ordinary shares

- Total Securities offer for sale: 122,800,000 shares

- Offer for sale to: Restricted Investors

- Selling Unit price: Value THB1.75
  
- Reserve Buying date and payment: March 12, 2005- October 31,
2005

(2) Securities offer for sale result
   
( ) Sold out

( ) Remaining Balance non-allocation securities in total:

120,000,000 shares (unit) from increasing capitals 200,000,000
        
Company operation plan to balancing securities: is still selling
and if there is any further details, the company will inform the
Stock Exchange of Thailand.

(3) Allocation details
   
      Thai investor                   Foreigner investor
Legal entity  Natural person   Legal entity  Natural person
Total

Total per capita  

  -               2                  -              -          2

Total securities

  -           2,800,000              -             -   2,800,000

Proportionate  
   
  -               -                  -              -         -

Appropriation to
all offering for sale

  -               -                  -               -        -

(4) Total amount from offering for sale
   
Total receiving amount: THB4,900,000.00

Deduction Cost of Securities offered for sale

(1) Commission fee: THB147,000.00   

Total net proceeds: THB4,753,000.00   

Ms. Saowaluck Teeranujunyong
Plan Administrator

CONTACT:

Manager Media Group Public Company Limited   
102/1 Phra Athit Road,
Chanasongkhram, Phra Nakhon, Bangkok    
Telephone: 0-2629-4488   
Fax: 0-2629-4469   
Web site: http://www.manager.co.th


NEW PLUS: Unveils Result of Restructuring Plan
----------------------------------------------
New Plus Knitting Company Limited issued to the Stock Exchange
of Thailand (SET) a report on the current changes and the result
of the restructuring plan from January 1, 2005 to June 30, 2005
based on the requirement of the document from the SET No.
290/2548 dated March 7, 2005.  

The following is the operating detail information:

(1) Financial status and operating result of the First Quarter
and Second Quarter 2005.

(1.1) Financial status from December 31, 2005 to June 30, 2005

                December 31, 2005      June 30, 2005

Asset                  344,126,680      403,409,316

Liability              389,700,831      386,316,625
      
Shareholder equity    (45,574,151)      17,092,691

Paid up capital        100,000,000      100,000,000

Revenue                312,082,785      132,038,709
      
Net Profit            (79,249,142)      (6,889,153)

Earning per share           (7.92)      (0.69)

Asset ratio               (23.03%)      (1.71%)

Liability ratio          (173.89%)      (40.30%)

Net profit Ratio          (25.39%)      (0.05%)

(1.2) Financial status
     
Financial statement ended on June 30, 2005 shows that the asset
increased by THB54,963,169 which was about 15.77 percent from
the previous year when the liability reduced by THB2,445,765,
which was 0.63 percent from 2004.  

Shareholder equity was THB17,092,691. The company had the
current asset of THB189,551,988 and current liability of
THB168,239,218.
   
The company has reduced the capacity to produce pantyhose and
increased the capacity to produce innerwear, and pajamas.

The operating process is improved to have more efficient
process, which result in reduction in cost.

(1.3) Operating Result
     
Sale for the first 6 months ending of June 30, 2005 equals to
THB132,038,709.  THB120,335,298 is the total local sale.
THB11,703,411 is the total export sale, and THB2,081,060 is gain
from rent.

(2) Process for the restructuring plan during the restructuring
period.

(2.1) In 2/2005, New Plus 89 and New Plus Knitting was being
consolidated from the previous status of related company to
subsidiary company, which result in the increased losses in
cumulative earning of THB29,829,560.

(2.2) In the 2/2005, the company apprised for the revaluation of
land in the amount of THB114,828,850.  The value of the land has
increased by THB68,447,035.  The company recorded Land-
revaluation increased in the section of shareholder equity.

(2.3) Warehouse investigation is in place to evaluate the
products that were set as allowance for obsolete stock in the
value of THB76,874,642.

The evaluation is to check if the products can be used in the
production process.  If the products cannot be used, they will
be destroyed by the forth quarter of the year 2005.

(2.4) Improving in productivity and the capacity of 2 factories
to meet with the orders from the customers.

As the result of the restructuring plan, the company reduced the
cost by 2.29 percent in the 2/2005 comparing to the statement in
the year 2005.

In the year 2004 the figure from sale is THB312,082,785 and cost
is THB296,939,366, which is 95.15 percent.

In the balance sheet ending 2/2005, the figure from sale is
THB132,038,709 and cost is THB122,620,107, which is 92.86% of
sale.

Yours sincerely,

Mrs. Orasa Kruthakool
Director                                        

Mr. Prakob Boonruang
Director

CONTACT:

New Plus Knitting Public Company Limited   
34 Moo 20, Saladang, Ban Num Priao, Chacherngsao    
Telephone: 0-3859-3126   
Fax: 0-3859-3125   



BOND PRICING: For the Week 7 November to 11 November 2005
---------------------------------------------------------

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


AUSTRALIA
---------
Advantage Group Ltd                  10.000%     4/15/06     1
Ainsworth Game                        8.000%    12/31/09     1
Amcom Telecommunications Ltd         10.000%    10/28/07     2
APN News & Media Ltd                  7.250%    10/31/08     5
A&R Whitcoulls Group                  9.500%    12/15/10     9
Arrow Energy NL                      10.000%     3/31/08     1
Babcock & Brown Pty Ltd               8.500%    12/31/49     8
Becton Property Group                 9.500%     6/30/10     1
BIL Finance Ltd                       8.000%    10/15/07     8
BIL Finance Ltd                       9.250%    10/15/06     9
Capital Properties NZ Ltd             8.500%     4/15/07     8
Capital Properties NZ Ltd             8.500%     4/15/09     8
Capital Properties Nz Ltd             8.000%     4/15/10     8
Cardno Limited                        9.000%     6/30/08     3
CBH Resources                         9.500%    12/16/09     1
Chrome Corporation Ltd               10.000%     2/28/08     1
Djerriwarrh Investments Ltd           6.500%     9/30/09     4
eBet Limited                         10.000%    11/29/06    25
Evans & Tate Ltd                      8.250%    10/29/07     1
Fletcher Building Ltd                 7.550%     3/15/11     8
Fletcher Building Ltd                 7.800%     3/15/09     8
Fletcher Building Ltd                 7.900%    10/31/06     8
Fletcher Building Ltd                 8.300%    10/31/06     8
Fletcher Building Ltd                 8.600%     3/15/08     8
Fletcher Building Ltd                 8.750%     3/15/06     8
Fletcher Building Ltd                 8.850%     3/15/10     8
Fernz Corp Ltd                        8.560%    10/15/06     8
Futuris Corporation Ltd               7.000%    12/31/07     2
Gympie Gold Ltd                       8.500%     9/30/07     1
Hy-Fi Securities Ltd                  7.000%     8/15/08     8
Hy-Fi Securities Ltd                  8.750%     8/15/08    10
Hudson Timber Products Ltd            7.000%    12/31/10     1
Hutchison Telecoms Australia          5.500%     7/12/07     1
Infrastructure & Utilities NZ Ltd     8.500%     9/15/13     8
Investa Property Group Ltd            6.000%     5/28/08     6
Kagara Zinc Ltd                       9.750%     5/06/07     2
Longreach Group Ltd                  10.000%    10/31/08     1
MacArthur Coal                       10.000%    12/11/05     6
Minerals Corporation Ltd             10.500%     9/30/07     1
Nuplex Industries Ltd                 9.300%     9/15/07     8
Pacific Print Group Ltd              10.250%    10/15/09    10
Primelife Corporation                 9.500%    12/08/06     1
Primelife Corporation                10.000%     1/31/08     1
Riversdale Mining Ltd                 8.000%    12/31/05     1
Salomon SB Australia                  4.250%     2/01/09     8
Sapphire Securities Ltd               9.150%     9/20/35     9
Sherlock Bay Nickel                  12.000%     9/01/07     1
Silver Chef Ltd                      10.000%     8/31/08     1
Software of Excellence                7.000%     8/09/07     1
Strathfield Group                    11.000%    12/31/05     1
Sydney Gas Company                   12.000%     4/01/06     1
Sydney Gas Limited                   12.000%     6/01/06     1
Tower Finance Ltd                     8.650%    10/15/09     8
Tower Finance Ltd                     8.750%    10/15/07     8
TrustPower Ltd                        8.300%     9/15/07     8
TrustPower Ltd                        8.300%    12/15/08     8
TrustPower Ltd                        8.500%     9/15/12     8
TrustPower Ltd                        8.500%     3/15/14     8
Vision Systems Ltd                    9.000%    12/15/08     2


INDONESIA
---------

Indonesia Government Bond             9.500%     6/15/15    73
Indonesia Government Bond            10.000%     7/15/17    74


  KOREA
  -----

Korea Electric Power                  7.950%     4/1/96     53


MALAYSIA
--------

Aliran Ihsan Resources Bhd            5.000%    11/29/11     1
Artwright Holdings Bhd                5.500%     3/06/07     1
Asian Pac Holdings Bhd                4.000%    12/22/05     1
Berjaya Group Bhd                     5.000%    10/17/09     1
Berjaya Land Bhd                      5.000%    12/30/09     1
Berjaya Sports Toto Bhd               8.000%     8/04/12     4
Camerlin Group Bhd                    5.500%     7/15/07     1
Crescendo Corporation Bhd             3.000%     8/25/07     1
Dataprep Holdings Bhd                 4.000%     8/06/07     1
Eden Enterprises (M) Bhd              2.500%    12/02/07     1
EG Industries Bhd                     5.000%     6/16/10     1
Equine Capital Bhd                    3.000%     8/26/08     1
Fountain View Development Sdn Bhd     3.500%    11/03/06     1
Furqan Business Organization          2.000%    12/19/05     1
Greatpac Holdings Bhd                 2.000%    12/11/08     1
Gula Perak Bhd                        6.000%     4/23/08     1
Hong Leong Industries Bhd             4.000%     6/28/07     1
Huat Lai Resources Bhd                5.000%     3/28/10     1
I-Berhad                              5.000%     4/30/07     1
Insas Bhd                             8.000%     4/19/09     1
Integrax Bhd                          3.000%    12/24/05     1
Kamdar Group Bhd                      3.000     11/09/09     1
Killinghall Bhd                       5.000%     4/13/09     2
Konsortium Lebuhraya                  4.000%     1/15/16    72
Konsortium Lebuhraya                  4.000%     7/15/20    74
Konsortium Lebuhraya                  4.000%     1/15/21    73
Konsortium Lebuhraya                  4.000%     7/15/21    72
Konsortium Lebuhraya                  4.000%     1/14/22    70
Konsortium Lebuhraya                  4.000%     7/15/22    72
Kosmo Technology Industrial Bhd       2.000%     6/23/08     1
Kretam Holdings Bhd                   1.000%     8/10/10     1
Kumpulan Jetson                       5.000%    11/27/12     1
LBS Bina Group Bhd                    4.000%    12/29/06     1
LBS Bina Group Bhd                    4.000%    12/31/07     1
LBS Bina Group Bhd                    4.000%    12/31/08     1
LBS Bina Group Bhd                    4.000%    12/31/09     1
Lebar Daun Bhd                        2.000%     1/06/07     4
Lion Diversified Holdings Bhd         2.000%     6/01/09     1
Media Prima Bhd                       2.000%     7/18/08     1
Mithril Bhd                           3.000%     4/05/12     1
Mithril Bhd                           8.000%     4/05/09     1
Mutiara Goodyear Development Bhd      2.500%     1/15/07     1
Naim Indah Corporation Bhd            0.500%     8/24/06     1
Nam Fatt Corporation Bhd              2.000%     6/24/11     1
Pantai Holdings Bhd                   5.000%     3/28/07     2
Pantai Holdings Bhd                   5.000%     7/31/07     2
Patimas Computers Bhd                 6.000%     2/19/06     1
Pelikan International Corp Bhd        3.000%     4/08/10     1
Poh Kong Holdings Bhd                 3.000%     1/20/07     1
Prinsiptek Corporation Bhd            2.000%    11/20/06     1
Puncak Niaga Holdings Bhd             2.500%    11/18/16     1
Ramunia Holdings                      1.000%    12/20/07     1
Rashid Hussain Bhd                    0.500%    12/24/12     1
Rashid Hussain Bhd                    3.000%    12/24/12     1
Rhythm Consolidated Bhd               5.000%    12/17/08     1
Silver Bird Group Bhd                 1.000%     2/15/09     1
Southern Steel                        5.500%     7/31/08     1
Tanah Emas Corporation Bhd            2.000%    12/09/06     1
Talam Corporation Bhd                 7.000%     4/19/06     1
Tap Resources Bhd                     2.000%     6/29/06     1
Tenaga Nasional Bhd                   3.050%     5/10/09     1
Time Engineering Bhd                  2.000%    12/25/05     1
VTI Vintage Bhd                       4.000%     8/22/06     1
WCT Land Bhd                          3.000%     8/02/09     1
Wah Seong Corp                        3.000%     5/21/12     3



SINGAPORE
---------

Sengkang Mall                         8.000%    11/20/12     1
Structural System Singapore          11.000%     6/30/07     1
Tampines Assets Ltd                    5.625%   12/07/06     1
Tincel Limited                        7.400%     6/31/11     1




                            *********


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

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

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

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

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

                 *** End of Transmission ***