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        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

             Wednesday, November 9, 2005, Vol. 8, No. 222

                            Headlines

A U S T R A L I A

ADSTEAM MARINE: Forecasts Higher Profit This Year
ANNELIESE PTY: Court Orders Winding Up
BEWICK HOLDINGS: Declares First Dividend
BRIGOOD PTY: Brian Goodey Named Liquidator
BROAD INVESTMENTS: Disposes of Loss Making Division

CROESUS MINING: Sells Davyhurst for AU$5 Mln
CSE ENGINEERING: Members Resolve to Wind Up Business
DOUBLE R: Final Meeting Fixed November 16
EAGLE GRANT: Court Appoints Official Liquidator
EG GREEN: Good News for Unsecured Creditors

EVEREADY CONCRETE: Declares First, Final Dividend Today
GRANT DALZIEL: Schedules Final Meeting November 16
G RETAIL: Falls Into Administration
JAYBECK PTY: Failure to Pay Debt Prompts Liquidation
JONI CONSTRUCTION: Court Releases Winding Up Order

K WYER: Members Place Firm in Voluntary Liquidation
MALMARK GROUP: Creditors OK Liquidators' Appointment
MERAVALE PTY: Members Convene to Review Liquidator's Report
MESSENGER GROUP: Decides to Close Operations
MYER LIMITED: Parent Puts AU700-Mln Tag on Stores

NATIONAL AUSTRALIA: Agrees to Sponsor Socceroos
NATIONAL AUSTRALIA: Unions Lashes at Clydesdale on Closures
NORRON PTY: Declares Final Dividend
OSIRIS HOLDINGS: Winding Up Process Initiated
PF TOWERS: Enters Liquidation

QUINCE & CO: Liquidator to Explain Winding Up to Members
SALTBUSH PRIVATE: Members Agree to Shut Down Business
SILCRAFT: Buckles Under Pressure from Car Giants
TRAVELSEARCH (AUST): ASIC Bans Sydney Director for Three Years
VICTORIAN FISHING: Appoints Official Liquidator


C H I N A  &  H O N G  K O N G

ARGOS ENTERPRISE: Suffers HK$348K Net Loss
CHINAGOLD TRANSPORTATION: Court Issues Winding Up Order
C.S. INDUSTRIES: Court Orders Winding Up
CO-WINNER ENTERPRISE: Admits to Absence of Financial Plan
D&B PRINTING: Creditors Meeting Slated for November 11

GUANGDONG KELON: Delays Dispatch Date of Circular
JILIN CHEMICAL: Appoints CICC, Platinum as Advisers
KUO CHIAU: Court Issues Winding Up Order
PO FAT: Prepares to Wind Up Business
TAI SUN: Winding Up Hearing Set December 14

TCL CORPORATION: Incurs US$140-Mln Losses
UNITED POLY-BAGS: Set to Shut Down Operations


I N D I A

BHARAT PETROLEUM: Sells 45,000T for November
INDIAN OIL: Teams Up with Gulf Oil for Car Care Products
RANBAXY LABORATORIES: Eyes More Tamiflu Output


I N D O N E S I A

PERTAMINA: Improves Service of Gasoline Stations
PERUSAHAAN LISTRIK: To Fund Solar Power Plant Project


J A P A N

HITACHI LIMITED: Launches Server Business in North America
JAPAN AIRLINES: Still on Watch Negative After FY/2005 1H Results
MITSUBISHI FUSO: Introduces New Generation Canter in Singapore
MITSUBISHI MOTORS: Shares Up 7.7% on Output Rise Report
SANDEN CORPORATION: R&I Downgrades Rating to BBB

SAGAMI CHAIN: R&I Affirms BBB- Rating, Outlook Negative
SOFTBANK CORPORATION: To Sell European, Korean Sites to Yahoo!
* Ratings on Five Japanese Trading Companies on Watch Positive


K O R E A

MANDO CORPORATION: Bidders Down to Two


M A L A Y S I A

ANTAH HOLDING: Non-Compliance to Rules Entails De-listing
BELL & ORDER: Amends Definition of Completion Date of SPA
FOUNTAIN VIEW: Unveils Directors Dealing in Securities
HAP SENG: Buys Back 16,500 Shares
KEMAYAN CORPORATION: AGM Slated for November 30

KRAMAT TIN: Sees No Progress in Plan
MAGNUM CORPORATION: Purchases New Ordinary Shares
MITRAJAYA HOLDINGS: Dormant Unit Winds Up
MULPHA LAND: Bourse Denies Request to Uplift PN17 Status
PANTAI HOLDINGS: AGM Set For Month's End

PELIKAN INTERNATIONAL: Enters Into RRPT with Subsidiaries
POHMAY HOLDINGS: RO Extension Lapses
TANAH EMAS: Issues Notice of Book Closure
THREE-FIVE SYSTEMS: Kontron Acquiring Company
UMW HOLDINGS: Wholly Owned Unit Ceases Operations


P H I L I P P I N E S

APEX MINING: Mapula Files Amended Tender Offer Report
APEX MINING: Crew Gold Revises Tender Offer Report
DMCI HOLDINGS: Clarifies Report on Power Plant Construction
NATIONAL FOOD: El Nino Hurts Production, Ups Farmgate Price
NATIONAL FOOD: Intensifies Procurement Operations

NATIONAL POWER: Solon Hits Delay of Calaca Rebidding
PILIPINO TELEPHONE: Net Income Up to Php6.9 Bln


S I N G A P O R E

CHINA AVIATION: In Talks with Potential Investors on Rescue Plan
FIRST ASIA: Distributes Final Dividend
NH CERAMICS: Passes Resolutions at AGM
SNP LOGISTICS: Asks Creditors to Submit Debt Claims
STATS CHIPPAC: Cancels Unregistered Noted Worth SGD150-Mln

YEW SENG: Members File Petition to Wind Up Firm


T H A I L A N D

NATURAL PARK: Sets Up New Unit
NATURAL PARK: Concludes Sale of Unit's Assets to PA
THAI WAH: Creditors Accept Amendment of Reorganization Plan

     -  -  -  -  -  -  -  -

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

ADSTEAM MARINE: Forecasts Higher Profit This Year
-------------------------------------------------
Adsteam Marine expects to reap around AU$42-AU$46 million net
profit for the current fiscal year, up from AU$29 million last
year, Sydney Morning Herald says.

The maritime services firm said it expects improved
profitability as a result of a lower operating cost base, lower
interest charges and accounting changes relating o international
financial reporting standards (IFRS).

The company said IFRS would impact Adsteam's reported profit in
the 2006 financial year.

As an indication, if the 2004/05 financials were restated on an
IFRS basis, they would show net profit after tax of
approximately $38 million, compared to $23.4 million reported
under the previous standards," Adsteam Chairman Robert Corlett
said.

Adsteam also said its dividend policy for the current fiscal
year and beyond would be to pay approximately 50 percent of net
profit by way of dividends. The interim dividend for 2005/06
financial year is expected to be substantially franked. The
company paid a total dividend of 4.3 cents fully franked in
2004/05, unchanged from 2003/04.

The company said its expected profit improvements would be
"partially offset" by a slow startup of the U.K. Medway port
project, the loss of the Coryton contract in the U.K., and no
hedge gains which were previously generated on the company's
U.K. operating profits.

It said there would also be increased depreciation, investment
in business development and additional tax due to increased
earnings in Australia.

CONTACT:

Adsteam Marine- Corporate Office
Adsteam Harbour
United Salvage (Australia and the Pacific)
Level 22, Plaza 2
500 Oxford Street
Bondi Junction NSW 2022
Australia
Phone: +61 2 9369 9200
Fax: +61 2 9369 9288
E-mail: info@adsteam.com.au
Web site: http://www.adsteam.com.au/


ANNELIESE PTY: Court Orders Winding Up
--------------------------------------
On Oct. 10, 2005, the Supreme Court ordered the winding up of
Anneliese Pty Limited, and appointed Pino Fiorentino to be the
Company Liquidator.

Pino Fiorentino
Liquidator
c/o Hamiltons Chartered Accountants
Level 17, 25 Bligh Street
Sydney NSW 2000
Phone: 9232 6611
Fax:   9232 6166, DX 1208


BEWICK HOLDINGS: Declares First Dividend
----------------------------------------
Bewick Holdings Pty Limited will declare a first dividend to its
unsecured creditors on Nov. 9, 2005.

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

Dated this 20th day of September 2005

K. E. Judge
Liquidator
Judge Constable
67 Burswood Road, Burswood WA 6100
Phone: 08 9470 4100


BRIGOOD PTY: Brian Goodey Named Liquidator
------------------------------------------
At a general meeting of the members of Brigood Pty Limited held
on Oct. 12, 2005, the following resolutions were passed:

(1) That the Company be wound up in accordance with a members'
voluntary winding up.

(2) That Brian Michael Goodey be appointed Liquidator at a fee
to be arranged, and

(3) That the Liquidator be empowered to distribute the assets in
specie.

Company creditors are required on or before Nov. 15, 2005 to
prove their debts or claims and to establish any title they may
claim concerning their respective debts or claims. In default
thereof, they will be excluded from the benefit of any
distribution made before their debts or claims are proven, or
their priority is established and from objecting to the
distribution.

Dated this 12th day of October 2005

Brian M. Goodey
Liquidator
60 Phegans Bay Road, Phegans Bay NSW 2256


BROAD INVESTMENTS: Disposes of Loss Making Division
---------------------------------------------------
The Directors of Broad Investments Limited are pleased to
announce that they have concluded the sale of the Company's loss
making wholesale bundled fixed-line telephony business for a
consideration of AU$100,000 in cash and the transfer of all
liabilities associated with the wholesale fixed-line and bundled
equipment sales and service business to the purchaser, effective
October 31, 2005.

The sale, limited only to the Company's wholesale business,
frees up Broad Investments to focus on its retail client base
and the lucrative and growing premium mobile content market
through its acquisition of Glovebox and MTX Holdings.

Wholesale fixed-line telephony business has recently been
subjected to reduced profit margins and dwindling customer base
and negative growth, no different to the largest incumbent in
the sector, that recently announced in its 2005 result briefing
that its land-line (PSTN-Voice) side of the business had a
negative 3.4% (regressive) growth and would remain under
pressure for 2006.

This timely divestment by Broad Investment has not only provided
an immediate injection of cash, but has reduced future liability
associated with servicing, replacement and maintenance of
equipment. Additionally, it is expected that monthly losses of
AU$20,000-AU$25,000 associated with the wholesale operations
will be eliminated, further improving the Company's performance
for the current year.

Broad Investments Executive Chairman, Mr. Vaz Hovanessian, said,
"The new Board has gradually cleaned up the Company's Balance
Sheet and the focus will now be to position Glovebox and MTX as
the major player in the Premium mobile phone content market.
With well over 13,000 retail outlets secured to offer our mobile
content products, it is only a matter of time before we gain a
sizable share of that lucrative market".

CONTACT:

Broad Investments Limited
15 Whiting Street, Artarmon
NSW 2064
Phone: 02 9425 0000
Fax: 02 9425 0099


CROESUS MINING: Sells Davyhurst for AU$5 Mln
--------------------------------------------
Croesus Mining NL announced that it had reached an agreement
with Monarch Resources Limited to sell its 100 percent interest
in the Davyhurst Gold Project in Western Australia to Monarch
for AU$5 million in cash.

The agreement follows Croesus' previously announced decision to
place its Davyhurst operations on care and maintenance to enable
it to focus on the continued growth in gold production from its
Norseman operations.

The key terms of agreement are:

(1) Croesus to receive a non-refundable deposit of AU$100,000,
payable within three business days of accepting the offer;

(2) A payment of AU$2.45 million to Croesus upon Monarch
completing satisfactory due diligence, which is to occur within
30 days of the heads of agreement signing;

(3) Payment of the balance of AU$2.45 million upon the
registration at the Department of Industry and Resources of
Western Australia (DOIR) of the transfer of the tenements in
favor of Monarch;

(4) Monarch to replace all existing environmental performance
bonds upon the registration at DOIR of the transfers of the
tenements in favor of Monarch; and

(5) The acquisition to be inclusive of the technical database,
accommodation village, the 1.2 million tonne per annum Davyhurst
gold treatment plant, workshops, offices, borefield, mobile
equipment, tools and spare parts on an "as is" basis.

Croesus Managing Director, Michael Fowler, said the sale of the
Davyhurst Project represented a further step in the Company's
strategy to focus on its core asset at Norseman where its has
enjoyed considerable recent exploration success at the Harlequin
Mine in the HV1 East Reef and Redfin Reef.

"Norseman clearly represents the core of our gold operations and
offers significant exploration upside," Mr. Fowler said.

"The agreement with Monarch enables us to realize value from the
Davyhurst asset and turn our full operational and exploration
focus to growing reserves and production from Norseman, as well
as continuing to assess potential new opportunities for
Croesus."

Mr. Fowler said Croesus expected to announce further details
regarding its operational strategy and corporate development at
the Company's Annual General Meeting this coming Thursday.

Nickel Australia Limited will retain the rights to any nickel
produced from the Nickel Rights tenements with a royalty payable
to Croesus.

CONTACT:

Croesus Mining N.L. Head Office
39 Porter Street
Kalgoorlie, Western Australia 6430
Phone: +61 8 9091 2222
Fax: +61 8 9021 7724
E-mail: croesus@croesus.com.au
Web site: http://www.croesus.com.au/


CSE ENGINEERING: Members Resolve to Wind Up Business
----------------------------------------------------
Notice is hereby given that on Oct. 12, 2005, a Special
Resolution was passed to voluntarily wind up CSE Engineering Pty
Limited, and creditors resolved to appoint John William
Cunningham and John Richard Park to be Joint & Several
Liquidators for such winding up.

Dated this 12th day of October 2005

John W. Cunningham
John R. Park
Joint Liquidators
Ramsey Clout, Suite 2, 63 The Esplanade
Cotton Tree


DOUBLE R: Final Meeting Fixed November 16
-----------------------------------------
Notice is given that the final meeting of the members and
creditors of Double R Communications Pty Limited will be held on
Nov. 16, 2005, 10:00 a.m. at the offices of P.A. Lucas & Co
Chartered Accountants, Level 8, 100 Edward Street, Brisbane,
Queensland, to table an account indicating the manner of the
winding up and the disposal of the property of the Company, and
to give explanations thereof.

Dated this 30th day of September 2005

G. L. Starkey
Liquidator
P. A. Lucas & Co. Chartered Accountants
Level 8, 100 Edward Street
Brisbane Qld 4000
Phone: 07 3232 5200
Fax:   07 3003 0334


EAGLE GRANT: Court Appoints Official Liquidator
-----------------------------------------------
On Oct. 11, 2005, the Supreme Court of New South Wales, Equity
Division appointed Christopher J. Palmer to be Liquidator for
the winding up of Eagle Grant Steel Reinforcements 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


EG GREEN: Good News for Unsecured Creditors
-------------------------------------------
The unsecured creditors of failed EG Green and Sons are likely
to receive around 32 cents in the dollar from the abattoir's
collapse, The West Australian reports.

Ferrier Hodgson Administrator Martin Jones told EG Green
creditors that conditional offers made for the assets of the
State's biggest meat processor equated to an estimated dividend
to unsecured creditors of between 32 cents and 59 cents in the
dollar.

The administrator's report said EG Green owed unsecured
creditors as much as AU$46.6 million. Total debts have hit
AU$73.7 million.

While creditors are due to meet next Tuesday to decide the
future of the company, Mr. Jones has recommended they agree to a
60-day extension to give him more time to assess the offers.

He said three final bids had been made by overseas hedge funds
Stark Investments and Harmony Capital Partners; Melbourne meat
processor Tasman Group; and Elders with South Australian
processor T&R Pastoral.

Mr. Jones said he was also assessing a conditional deed of
company arrangement put to him by the Green family. It involved
the payment of 100 cents in the dollar to all individual
creditors owed less than AU$50,000 and 27 cents in the dollar
for claims above that amount.

All bids involved the main Harvey abattoir business continuing
as a going concern and the repayment in full of a AU$19 million
debt to Elders, which had bought the debt from National
Australia Bank.

Meanwhile, the administrator said trading losses in the past
three fiscal years of AU$16.7 million, AU$1.6 million and AU$6.7
million had eroded the working capital needed to run its daily
operations.

Mr. Jones believed the main operating company had become
insolvent on July 31 and had incurred AU$2.22 million in
additional debt up until his appointment as administrator on
August 19.

CONTACT:

EG Green and Sons
Hamilton Hill Office
16 Emplacement Crescent
Hamilton Hill WA 6163
Phone: 08 9433 2000
Fax: 08 9433 2122
Freecall: 1800 017 345
E-mail: sales@harveybeef.com.au


EVEREADY CONCRETE: Declares First, Final Dividend Today
-------------------------------------------------------
Eveready Concrete Contractors Pty Limited will declare a first
and final dividend today, Nov. 9, 2005.

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

Dated this 7th day of September 2005

Andrew Fielding
Liquidator
PPB Chartered Accountants & Business Reconstruction Specialists
Level 4, 31 Sherwood Road
Toowong Qld 4066
Phone: 07 3371 7244
Fax:   07 3371 7311


GRANT DALZIEL: Schedules Final Meeting November 16
--------------------------------------------------
Notice is hereby given that a final general meeting of the
members and creditors of Grant Dalziel Professional Horse
Breaking Pty Limited will be held on Nov. 16, 2005, 11:00 a.m.
at the offices of PPB, Level 10, 90 Collins Street, Melbourne,
to present the Liquidator's account showing the manner in
which the winding up was conducted and the property of the
Company disposed of, and to hear any explanations that may be
given by the Liquidator.

Dated this 10th day of October 2005

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


G RETAIL: Falls Into Administration
-----------------------------------
The Directors of G Retail Limited (G Retail or the Company)
advised that they have appointed Peter Yates and David Lombe of
Deloitte as Administrators of G Retail and its three
subsidiaries.

The Company had been negotiating for almost two months with
Lowes Manhattan Pty Ltd for the sale of the G Retail business.

The Directors of G Retail and the Company's adviser, Baron
Partners Limited, believed the sale proposal was in the best
interests of staff, suppliers and shareholders.

In a meeting held Monday, the terms and conditions of the
proposed sale were not supported by the major landlord and owner
of the "Gowings" brand name, Gowing Bros Limited, and as a
result, G Retail and Lowes are unable to proceed further with
the proposed sale.

Following a review of the company's financial position and
prospects, particularly the forecasts post the Christman trading
period, the Directors have resolved that the only course of
action available to them was to appoint the Administrators to
assess options for the future of the company.

CONTACT:

Alison Davies
Media Relations
Phone: (02) 9322 7731
Mobile: 0410 579 981

G Retail Ltd
Level 6, 15 Castlereigh Street
Sydney NSW 2000
Web site: http://www.gowings.com/


JAYBECK PTY: Failure to Pay Debt Prompts Liquidation
----------------------------------------------------
Notice is hereby given that at a general meeting of the members
and creditors of Jaybeck Pty Limited held on Oct. 11, 2005, the
following resolutions were passed:

SPECIAL RESOLUTION

That it has been proved to the satisfaction of the members of
the Company that it cannot meet its liabilities, and accordingly
that the Company be wound up voluntarily.

ORDINARY RESOLUTION

That Peter Anthony Lucas of P. A. Lucas & Co. Chartered
Accountants, Level 8, 100 Edward Street, Brisbane, Qld, be
appointed Liquidator for the winding up.

Dated this 14th day of October 2005

Peter A. Lucas
Liquidator
P. A. Lucas & Co. Chartered Accountants
Level 8, 100 Edward Street
Brisbane Qld
Phone: 07 3232 5200
Fax:   07 3003 0334


JONI CONSTRUCTION: Court Releases Winding Up Order
--------------------------------------------------
On Oct. 13, 2005, the Supreme Court of New South Wales issued a
winding up order against Joni Construction Pty Limited, and
appointed Geoffrey McDonald to be the Company Liquidator.

Geoffrey McDonald
Liquidator
Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000
Phone: 02 9263 2600
Fax:   02 9263 2800


K WYER: Members Place Firm in Voluntary Liquidation
---------------------------------------------------
At a general meeting of the members of K Wyer Constructions Pty
Limited held on Oct. 10, 2005, the following special resolutions
were passed:

SPECIAL RESOLUTIONS

(A) That the Company be wound up voluntarily, and that Peter
Burton and Brian Allen of Burton Glenn Allen Chartered
Accountants, Level 2, 57 Grosvenor Street, Neutral Bay, New
South Wales be appointed Liquidators for such winding up.

(B) That on the winding up of the Company, subject to the
payment of its debts and liabilities and liquidation costs, its
assets may be distributed amongst the members in specie (the
whole or in part), according to their rights and interest in the
Company.

Dated this 10th day of October 2005

Brian Allen
Peter Burton
c/o Burton Glenn Allen Chartered Accountants
Level 2, 57 Grosvenor Street
Neutral Bay NSW
Phone: 02 9904 4644
Fax:   02 9904 9644


MALMARK GROUP: Creditors OK Liquidators' Appointment
----------------------------------------------------
Notice is hereby given that at a general meeting of the members
of The Malmark Group Pty Limited held on Oct. 14, 2005, its was
resolved that the Company be wound up voluntarily, and Antony de
Vries and Riad Tayeh were appointed as Joint & Several
Liquidators for such purpose.

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

Dated this 14th day of October 2005

Riad Tayeh
Antony de Vries
Joint Liquidators
c/o de Vries Tayeh
Level 3, 95 Macquarie Street
Parramatta NSW 2124


MERAVALE PTY: Members Convene to Review Liquidator's Report
-----------------------------------------------------------
Notice is given that the final meeting of the members of
Meravale Pty Limited will be held on Nov. 16, 2005, 11:00 a.m.
at the offices of Horwath BRI Brisbane, Level 4, 370 Queen
Street, Brisbane, Qld 4000, to present the Liquidator's account
showing the manner of the winding up and the disposal of the
property of the Company, and to hear any explanations that may
be given by the Liquidator.

Dated this 28th day of September 2005

Philip G. Jefferson
Liquidator
c/o Horwath BRI Brisbane
Level 4, 370 Queen Street
Brisbane Qld 4000


MESSENGER GROUP: Decides to Close Operations
--------------------------------------------
Notice is given that at a general meeting of the members of
Messenger Group Pty Limited held on Oct. 10, 2005, it was
resolved that Hugh Martin of Bernardi Martin, Level 1, 195
Victoria Square, Adelaide be appointed Liquidator for the
winding up.

Dated this 13th day of October 2005

Hugh Martin
Liquidator
Bernardi Martin
Level 1, 195 Victoria Square
Adelaide


MYER LIMITED: Parent Puts AU700-Mln Tag on Stores
-------------------------------------------------
Several potential buyers, including the Myer family, are
expected to finally receive an information memorandum on the
sale of the Myer Limited business this week, reports the Sydnye
Morning Herald.

This follows their omission from the original group, who
received financial details late last week. There are now about
20 prospective buyers.

The delay was due to some parties raising concerns about the
terms in the confidentiality deed they had to sign before
receiving the information memorandum.

The list of bidders is topped by private equity firms such as
CVC Asia Pacific, the Carlyle Group, JPMorgan Capital, Castle
Harlan Australian Mezzanine Partners (Champ), Newbridge Capital
and US giant Kohlberg Kravis Roberts. Other potential buyers
include South African retailers Truworths and its compatriot
Edgars Consolidated.

Parent Coles Myer Limited had reportedly placed an internal
valuation on the Myer chain of AU$700 million-plus, despite
industry analysts saying Myer was more likely to fetch a piece
in the region of AU$400 million. The retail group is expecting
to receive several "indicative bids" for the 61-store Myer chain
early next month.

Analysts, however, said Myer's reported loss of AU$15 million
for the second half of 2005 and a margin of only 1.25c in every
dollar spent at the store - far below the top international
standard of nearly 6 percent - would make it difficult for Coles
Myer to achieve its target price.

CONTACT:

Myer Limited
295 Lonsdale Street
Melbourne Vic 3000
Telephone: (61 3) 9661 1111
Facsimile: (61 3) 9661 3770
Web site: http://www.myer.com.au


NATIONAL AUSTRALIA: Agrees to Sponsor Socceroos
-----------------------------------------------
The National Australia Bank (NAB) has been named as new major
sponsor for the Socceroos, according to the Sydney Morning
Herald.

NAB's entry will provide a financial boost for the Australian
soccer team ahead of its World Cup playoff against Uruguay.

NAB chief executive of Australian operations Ahmed Fahour said
the bank had agreed to sponsor the Australian team for "at
least" the next three years.

It joins Qantas as the Socceroos major sponsors.

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: Unions Lashes at Clydesdale on Closures
-----------------------------------------------------------
National Australia Bank's (NAB) Scottish unit has been condemned
for closing several branches across Scotland, The Scotman
reveals.

Union Amicus said NAB's confirmation that Clydesdale Bank will
shut down 30 Scottish branches was a "serious blow".

Eight of the closures are the "last bank in the town" for some
of the more remote and rural areas.

"The bank has reneged on their promise not to close 'the last
branch in town' in eight communities," Amicus official Mary
Alexander said.

"These customers will have to travel some distances to get to a
branch and for those without a car, this could prove very
difficult indeed."

Ms. Alexander said that NAB had gone ahead despite pressure from
MSPs and MPs.

NAB announced the closure of about a fifth of its Clydesdale and
Yorkshire branches as part of a GBP117 million cost-cutting
programme. The closures have resulted to around 100 jobs being
lost.


NORRON PTY: Declares Final Dividend
-----------------------------------
Norron Pty Limited will declare a first and final dividend to
its priority creditors today, Nov. 9, 2005.

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

Dated this 18th day of October 2005

Mark F. Mentha
Liquidator
KordaMentha
Level 24, 333 Collins Street
Melbourne Vic 3000


OSIRIS HOLDINGS: Winding Up Process Initiated
---------------------------------------------
Notice is hereby given that at a meeting of members and
creditors of Osiris Holdings Pty Limited held on Oct. 7, 2005,
the following resolutions were passed:

That the Company be wound up voluntarily, and that Murray
Godfrey be appointed Liquidator for such purpose.

Dated this 13th day of October 2005

Murray Godfrey
Liquidator
RMG Partners Chartered Accountants
Level 12, 88 Pitt Street
Sydney NSW 2000
Phone: 02 9231 0889


PF TOWERS: Enters Liquidation
-----------------------------
Notice is hereby given that at an Extraordinary General Meeting
of members of PF Towers held on Oct. 10, 2005, it was resolved
that the Company be wound up voluntarily, and Craig Crosbie of
PPB Chartered Accountants, Level 10, 90 Collins Street,
Melbourne, Victoria was appointed as Company Liquidator at a
creditors' meeting held later that day.

Dated this 11th day of October 2005

Craig Crosbie
Liquidator
PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


QUINCE & CO: Liquidator to Explain Winding Up to Members
--------------------------------------------------------
Notice is hereby given that the final meeting of the members of
Quince & Co Pty Limited will be held on Nov. 16, 2005, 10:00
a.m. at the offices of Bentleys MRI Chartered Accountants, Level
26, AMP Place, 10 Eagle Street, Brisbane, to lay before the
meeting the Liquidator's final account and report, and to give
any explanation thereof.

Dated this 6th day of October 2005

W. J. Fletcher
Joint Liquidator
Bentleys MRI Chartered Accountants
Level 26, 10 Eagle Street
Brisbane Qld
Phone: 07 3222 9777


SALTBUSH PRIVATE: Members Agree to Shut Down Business
-----------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Saltbush Private Equity Pty Limited held on Oct. 10, 2005, it
was resolved that the Company be wound up voluntarily, and that
Christopher Wykes, Chartered Accountant c/o Lawler Partners
Chartered Accountants, Level 7, 1 Margaret Street, Sydney NSW
2000 be nominated as Liquidator for the winding up.

Dated this 12th day of October 2005

Christopher Wykes
Lawler Partners Chartered Accountants
Level 7, 1 Margaret Street
Sydney NSW 2000


SILCRAFT: Buckles Under Pressure from Car Giants
------------------------------------------------
Silcraft has finally decided to close after an internal review
found it to be permanently unprofitable in the short to medium
term, The Advertiser reports.

The automotive parts maker was forced to abandon its business
after finally buckling under the pressure of relentless price
cuts demanded by car giants Holden, Ford and Toyota.

The decision was reached after Holden demanded that Silcraft's
British-based owners agree to a 20 percent cut in the price of
silver trim to match cheap imports from China. Silcraft reviewed
its options and decided to close.

The closure, which is likely to take effect during 2006 and
2007, is expected to affect around 460 jobs.

Holden spokeswoman Maya Donevska would not comment on the
specifics of the carmaker's contracts with Silcraft, but denied
the company had pulled contracts simply to seek cheaper prices.

Quality, service and technology were also important factors in
choosing suppliers, she said.
"All things being equal our preference is to source locally."

CONTACT:

Silcraft Pty Ltd
Melbourne VIC
Phone: 03 9544 0222
E-mail: info@silcraft.com.au
Web site: http://www.silcraft.com.au/


TRAVELSEARCH (AUST): ASIC Bans Sydney Director for Three Years
--------------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
banned Ms. Carole Angela Whitmore (nee Murphy), of Berowra, NSW,
from being a director or being involved in the management of
companies for three years.

Ms. Whitmore was banned after ASIC found that she has been
involved in the management of two companies that had been wound
up, being Sydney-operated business travel consultants,
Travelsearch (Aust) Pty Limited and Travelsearch Australasia Pty
Limited (the Travelsearch companies).

Specifically, ASIC found that Ms. Whitmore had failed to
exercise her powers and duties as director of both companies
with reasonable care and due diligence, had failed to ensure
that those companies kept proper financial records, and had not
properly provided for the payment of wages, superannuation
entitlements and taxation liabilities. Ms. Whitmore had also
failed to produce all company books and records and provide
assistance to liquidators.

In determining an appropriate banning period for Ms Whitmore
ASIC was also concerned that she:

- may have allowed the Travelsearch companies to trade whilst
insolvent; and
- may have engaged in 'phoenix activity', in that, through
Travelsearch Australasia Pty Limited, she appears to have re-
established the business previously run by Travelsearch (Aust)
Pty Limited.

In addition to her management of two failed companies, ASIC
records revealed Ms Whitmore had failed to lodge annual returns
whilst director of the now deregistered company, The Business
Travel Information Group Pty Limited.

"Directors who do not carry out their duties properly pose a
threat to future creditors, consumers and the business
community. ASIC will not hesitate to take banning action against
directors who intentionally or negligently fail to fulfil their
responsibilities," said Mr. Allen Turton, Deputy Executive
Director of Enforcement.

Ms. Whitmore has the right to lodge an appeal with the
Administrative Appeals Tribunal for a review of ASIC's decision.

Background

Travelsearch (Aust) Pty Limited and Travelsearch Australasia Pty
Limited operated as business travel consultants in Sydney before
they were wound up in 2002 and 2004 respectively. Travelsearch
(Aust.) Pty Ltd was deregistered on 22 May 2005. The companies'
liquidators reported that unsecured creditors were unable to be
paid more than 50 cents in the dollar.


VICTORIAN FISHING: Appoints Official Liquidator
-----------------------------------------------
Notice is hereby given that at a general meeting of the members
of Victorian Fishing & Sporting Distributors Pty Limited held on
Oct. 12, 2005, it was resolved that the Company be wound up
voluntarily, and that William Hicks Hall of Level 6, 31 Queen
Street, Melbourne be appointed Liquidator for such purpose.

Dated this 12th day of October 2005

William H. Hall
Liquidator
Level 6, 31 Queen Street
Melbourne


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

ARGOS ENTERPRISE: Suffers HK$348K Net Loss
------------------------------------------
Argos Enterprise (Holdings) Limited (8022) incurred a net loss
of HK$348,000 for the first nine months of 2005, versus a net
profit of HK$2.001 million for the same period a year earlier,
Infocast News reports.

The loss per share (LPS) was HK$0.0019. No dividend was declared
for the third quarter.

The Group provides various forms of public transport services in
the PRC including public routes and tourist routes bus services
with fixed fares, schedules and routes, taxi services and
private bus chartered services.

CONTACT:

Argos Enterprise (Holdings) Limited
Room 1113, 11th Floor
Block A2, Yau Tong Industrial City
17 Ko Fai Road, Kowloon,
Hong Kong
Phone: 23488310
Fax: 23479652
Web site: http://www.argos-bus-serv.com.hk


CHINAGOLD TRANSPORTATION: Court Issues Winding Up Order
-------------------------------------------------------
Chinagold Transportation Limited, whose office address is
located at G/F No. 4 Hoi Pui Tsuen Kwok Shui Road 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 26, 2005.

Date of Presentation of Petition: August 22, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


C.S. INDUSTRIES: Court Orders Winding Up
----------------------------------------
C.S. Industries Company Limited, whose office address is located
at Blk B3 18th Floor Fortune Industrial Building 40 Li Chung
Street Chai Wan 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 25, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


CO-WINNER ENTERPRISE: Admits to Absence of Financial Plan
---------------------------------------------------------
Co-Winner Enterprise Limited announced that the general mandate
of the new shares issue has been passed in the extraordinary
general meeting but the company does not plan to start any
financing in the present stage, according to Infocast News.

Chan Wing-chung, the company's Chief Financial Officer, refused
to disclose anything related to the condition of telephone set
processing business in the current stage, as the company's
results for the third quarter will be released soon.

Mr. Chan also declined to respond to whether the company will
explore new business and will turn to be profitable from the
loss.

CONTACT:

Co-Winner Enterprise Limited
Room 4202, Far East Finance Centre
16 Harcourt Road, Admiralty
Hong Kong
Phone: 23954838
Fax: 23092948
Web site: http://www.grandmass.com.hk


D&B PRINTING: Creditors Meeting Slated for November 11
------------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), the Annual General Meeting of
the members of D&B Printing Company Limited will be held at Room
207, Duke of Windsor Social Service Building, 15 Hennessy Road,
Wanchai, Hong Kong on November 11, 2005 at 2:30 p.m. and will be
followed by a meeting of the creditors of the company to be held
at the same place at 3:00 p.m. for the purpose of receiving an
account of the liquidator's act and dealings and of the conduct
of the winding up of the company during the preceding year.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and on a poll, vote instead
of him. A proxy need not be a member or creditor of the company.

Forms of proxies for both meetings must be lodged with Messrs.
H. C. Wong & Co. at Room 1007, 10th Floor, Wing On Centre, 111
Connaught Road Central, Hong Kong not less than 48 Hours before
the time appointed for the holding of the meeting.

Dated this 28th day of October 2005
WONG HEI CHIU
Liquidator


GUANGDONG KELON: Delays Dispatch Date of Circular
-------------------------------------------------
An application has been made to the Stock Exchange of Hong Kong
by Guangdong Kelon Electrical Holdings Company Limited for a
waiver from strict compliance with Rule 14A.49 of the Listing
Rules by extending the dispatch date of the Circular to no later
than November 29, 2005.

At the request of the Company, trading in H Shares of the
Company was suspended with effect from 10 a.m. on June 16, 2005
pending the release of an announcement in relation to price
sensitive information.

Subject to the publication of a further announcement in relation
to, amongst others, the financial, production and trading
position of the Group, trading in H shares of the Company will
remain suspended until further notice.

By order of the Board of
Guangdong Kelon Electrical Holdings Company Limited
Liu Cong Meng
Vice Chairman

For a complete copy of the press release,
http://bankrupt.com/misc/tcrap_guangdong110805.pdf


JILIN CHEMICAL: Appoints CICC, Platinum as Advisers
---------------------------------------------------
Reference is made to the joint announcement on the possible
takeover offer of Jilin Chemical Industrial Company Limited
jointly published by PetroChina Company Limited, the Controlling
Shareholder of the Company, and the Company on October 28, 2005.

The Company announced that in relation to: (i) the possible
voluntary conditional offer (A Share Takeover Offer) by
PetroChina to acquire all of the outstanding A shares of the
Company not already owned by PetroChina and parties acting in
concert with it; and (ii) the possible voluntary conditional
offer (H Share Takeover Offer) by Citigroup Global Markets Asia
Limited on behalf of PetroChina to acquire all of the
outstanding H shares, including all of the H shares represented
by American depositary shares, of the Company not already owned
by PetroChina and parties acting in concert with it, an
independent board committee comprising all of the independent
non-executive directors of the Company has been established to
advise the independent shareholders of the Company ("Independent
Shareholders") in respect of the A Share Takeover Offer and the
H Share Takeover Offer.

Each of China International Capital Corporation Limited (CICC)
and Platinum Securities Company Limited (Platinum) has been
appointed as the independent financial adviser to advise the
Independent Board Committee and the Independent Shareholders in
respect of the A Share Takeover Offer and the H Share Takeover
Offer, respectively.

The directors of the Company jointly and severally accept full
responsibility for the accuracy of the information contained in
this announcement and confirm, having made all reasonable
enquiries, that to the best of their knowledge, opinions
expressed in this announcement have been arrived at after due
and careful consideration and there are no other facts not
contained in this announcement, the omission of which would make
any statement in this announcement misleading.

By order of the Board of Directors
Zhang Li Yan
Company Secretary
7 November 2005


KUO CHIAU: Court Issues Winding Up Order
----------------------------------------
Kuo Chiau Security Company Limited, whose office address is
located at Unit 7 10th Floor Blk B Po Yip Bldg 62-70 Texaco Road
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 26, 2005.

Date of Presentation of Petition: August 22, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


PO FAT: Prepares to Wind Up Business
------------------------------------
Po Fat Restaurant Limited, whose office address is located at
G/F No. 17 Saigon Street Yau Ma Tei 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 22, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


TAI SUN: Winding Up Hearing Set December 14
-------------------------------------------
Notice is hereby given that a Petition for the Winding up of Tai
Sun Construction Engineering Company Limited by the High Court
of Hong Kong Special Administrative Region was on October 17,
2005 presented to the said Court by Able Engineering Company
Limited whose registered office is situated at Room 703, West
Coast International Building, 290-296 Un Chau Street,
Shamshuipo, Kowloon, Hong Kong.

The said Petition is directed to be heard before the Court at
9:30 a.m. on December 14, 2005.

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

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

CHAN, LAU & WAI
Solicitors for the Petitioner
8th Floor, Asia Standard Tower
Nos. 59-65 Queen's Road Central
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of December 13, 2005.


TCL CORPORATION: Incurs US$140-Mln Losses
-----------------------------------------
TCL Corporation announced that its economic losses have reached
CNY1.138 billion (US$140 million) in the first nine months of
this year, Xinhuanet News reports.

It is expected that the company cannot recover the losses at the
end of this year. This was TCL's third time to publish reports
on losses this year.

Company board Chairman Li Dongsheng attributed the hefty losses
to rising production cost, and the increase of management,
business and financial affairs fees. The losses of TCL Mobile
Communications are also a factor.

CONTACT:

TCL Corporation
E. Yunshan Road, Jiangbei
Huizhou, Guangdong 516003, China
Phone: +86-752-280-3898
Fax: +86-752-280-3188


UNITED POLY-BAGS: Set to Shut Down Operations
---------------------------------------------
United Poly-Bags Industrial Company Limited, whose office
address is located at Rm 1301-1302 Kowloon Building 555 Nathan
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 22, 2005

Dated this 4th day of November 2005

ET O'Connell
Official Receiver


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

BHARAT PETROLEUM: Sells 45,000T for November
--------------------------------------------
Bharat Petroleum Corporation Limited (BPCL) has sold 45,000
tonnes of fuel oil for mid November loading to Vitol Asia at
steady price levels, according to Reuters.

The 180-centistoke (cst) cargo, for lifting on Nov. 15-21 from
Mumbai on India's west coast, was sold at around US$4-US$5 a
tonne over Middle East spot 180-cst quotes on a free-on-board
basis.

The deal level is comparable to two recent Indian November
export tenders, each for 30,000 tonne cargoes, which were done
at discounts of US$18-US$19 a tonne to Singapore spot 180-cst
quotes.

BPCL had originally offered three parcels, of 3-4 percent
sulphur content and 0.99 kg per cubic metre density, for
November-to-February loading.

CONTACT:

Bharat Petroleum Corp. Ltd.
Bharat  Bhavan,
4 & 6 Currimbhoy Road,
Ballard Estate,
Mumbai 400001
Phone: 022-22713000/ 022-22714000
Fax: 022-22713874
E-mail: info@bharatpetroleum.com
Web site: http://www.bharatpetroleum.com/


INDIAN OIL: Teams Up with Gulf Oil for Car Care Products
--------------------------------------------------------
Indian Oil Corporation (IOC) has tied up with Gulf Oil to offer
car care products through its retail outlets, Asia Pulse
reports.

The two oil firms will offer facilities like tyre inflate and
repair, /c neutralizer, glass and crystal cleaner, dash board
polish, mutli-functional fluid, tyre black and wax spray through
IOC outlets in five major cities to start with.

In Phase-I, the car care products would be test marketed in five
major cities of the country which includes Ahmedabad, Bangalore,
Chandigarh, Delhi and Mumbai, to be later launched on all-India
basis.

The products to be launched are of the 'Do-it-yourself' type,
which have multi-functional applications and can be used at home
for various maintenance needs of domestic gadgets besides
automobiles.

CONTACT:

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


RANBAXY LABORATORIES: Eyes More Tamiflu Output
----------------------------------------------
Loss-making Ranbay Laboratories Limited has already worked out a
copycat version of Roche Holding AG's drug Tamiflu, Reuters
reports.

The Indian generic drug maker said that it was currently talking
to Switzerland's Roche about producing the drug, which Ranbaxy
has so far only produced at laboratory scale.

Ranbaxy is hoping to scale up its Tamiflu output by mid-2006 as
the government stocks up bird flu drugs.

Ranbaxy's Chief Executive Brian Tempest said it was too early to
talk about potential production capacity for the drug but he
noted Ranbaxy was used to supplying large quantities of low-
priced generic medicines to markets around the world.

Governments are scrambling to stockpile the drug, which has been
recommended by the World Health Organization as the most
effective treatment available in the event of flu pandemic.

Faced with huge demand, the Swiss drug maker has come under
pressure from generic drug companies, developing nations and the
United States to increase production.

Roche said earlier on Monday it would ramp up production of the
antiviral drug to 300 million treatments by 2007, equivalent to
a tenfold increase in capacity over 2004 levels.

It also said that it was in early talks with eight companies,
both generic drug makers and large pharmaceuticals
manufacturers, as well as a number of governments. Mr. Tempest
confirmed that Ranbaxy was one of the eight.

CONTACT:

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


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

PERTAMINA: Improves Service of Gasoline Stations
------------------------------------------------
State-owned oil and gas firm PT Pertamina plans to upgrade the
service standard of its gasoline stations amid competition from
other firms when the industry would be open to private
businesses, reports Asia Pulse.

According to Pertamina's marketing director Arie Sumarno, the
Company wants to maintain its customer base, even adter the free
market opens on Nov. 23, 2005. Hence, they must be prepared to
compete with local and foreign firm that would supply oil to the
public.

Mr. Sumarno said that of the Company's 3,150 gasoline stations,
only 40% that are jointly operated with other firms meets
Pertamina's service standards, and are thus ready to compete
with other firms. Pertamina's service standards for its gasoline
stations include the quality of fuel sold by the stations and
the availability of facilities such as bathrooms, a prayer room
and a store.

He also added that the Company will aid operators who want to
improve the service standard of their gasoline stations.

CONTACT:

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


PERUSAHAAN LISTRIK: To Fund Solar Power Plant Project
-----------------------------------------------------
State power firm PT Perusahaan Listrik Negara (PLN) will finance
a government project to increase power penetration in the more
remote areas of Indonesia, reports the Jakarta Post.

The government is planning to build 15,000 household solar pwer
units with a capacity of 100 watts each, and costing between
IDR5 million and IDR6 million to build. But according to the
Ministry of Energy & Mineral Resources' energy and electricity
director Yogo Pratomo, there would be no extra expense as the
units are solar-dependent, and would not consume fuel.

The government is also planning to build 200 microhydro power
plants with a capacity of 50 watts to 500 watts each; the cost
for the microhydro plants is expected to be IDR20 million.

PLN is focusing on expanding in Java, where more than 50% of the
country's population is present; it has allotted only 17% of its
projects for the other islands.

CONTACT:

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


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

HITACHI LIMITED: Launches Server Business in North America
----------------------------------------------------------
Hitachi Limited (NYSE: HIT) announced the launching of its
highly scalable and performance oriented blade server platform
called "BladeSymphony" as part of its global IT platform
business operation in North America, where the market for blade
servers is growing rapidly, driven by stringent requirements for
cost efficiency and high performance by enterprises seeking to
stay competitive and agile.

Hitachi is planning to provide server-based solutions with
"BladeSymphony" for the high-end enterprise market in North
America through both its own brand as well as OEM offerings.
Hitachi believes that it can capture a respectable share of the
market due to its unique technology and product position. The
blade server product will begin shipping on December 1, 2005.

Effective October 1, 2005, Hitachi, Ltd., established a server
systems business unit in Hitachi America, Ltd., a wholly owned
subsidiary of Hitachi, Ltd. to provide server-based solutions in
North America. The unit has been designated as the Server
Systems Group of Hitachi America, Ltd.'s Information Division.
The business unit is responsible for sales and marketing,
business development, and establishing a service & support
infrastructure that will operate 24-7.

Sales offices for the Server Systems Group of Hitachi America
are based in both California and New York initially and planned
to expand as market conditions dictate to serve nationwide
customer requirements. To provide customers with performance and
connectivity testing, a System Test Center was also established
in California.

The series of "BladeSymphony" products have been available in
the Japan market since the original launch in 2004. More than
100 customers have purchased "BladeSymphony" as alternatives to
mainframes and UNIXr units in industries such as finance and
telecommunications for mission critical applications.

Traditional enterprise IT systems have grown larger and more
complicated. As a result, interest in blade servers has been
increasing thanks to their inherent lower total cost of
ownership (TCO), as well as efficient server management and
consolidated operation. Hitachi's "BladeSymphony" shares not
only the characteristics of conventional blade servers but also
has much higher performance, reliability, scalability and
flexibility for mission critical applications such as database
management.

The major benefits of Hitachi's "BladeSymphony" include:

Multi platform capability for server consolidation
  Supports the latest Microsoft Windows Server 2003 and Red Hat

Enterprise Linux
  Accommodates both Intel Xeon Processor and Intel Itanium2

Processor in the same chassis
  Easy and flexible server management with Hitachi Management
software

Adoption of the latest technologies
  The world's first unique hardware-based virtualization working
with Intel Virtualization Technology on Intel Itanium2

Processor, making full use of computing resources
  Ability for both scale up and scale out for performance
enhancement and optimization
  The world's first adoption of FSB 667 MHz Intel Itanium2
Processor based server module

Hitachi intends to develop close relationships with leading
technology partners to provide customers with a variety of
solutions in the open market and plans to develop joint
activities in areas such as solution development, marketing and
sales promotion. To better serve to the market, Hitachi also
plans to develop close relationships with business partners such
as VARs and system integrators.

Beginning with the North America market, Hitachi plans to expand
its server business operation to other regions with
"BladeSymphony" families to be one of the leading global server
platform providers. Over the course of the next three years,
Hitachi anticipates revenue of approximately $300 million from
the "BladeSymphony " and related business.

"Intel welcomes the introduction of Hitachi BladeSymphony into
the US market, " said Kirk Skaugen, general manager, Server
Platforms Group, Intel Corporation. "Intel and Hitachi have
worked closely together to deliver technology innovations to
provide real benefits to enterprise customers based on advanced
server platforms. With the combined benefits of Intel's latest
technology integrated into Hitachi's platform, we expect to
address enterprise market requirements for highly scalable,
reliable and cost effective solutions to accelerate the adoption
from proprietary RISC market to open platforms in the mission
critical segment."

"Microsoft would like to congratulate Hitachi on the launch of
its server systems business unit in North America to provide
customers with enterprise-ready blade servers using
BladeSymphony," said Bob Muglia, senior vice president, Server
and Tools Business, Microsoft Corp. "By incorporating industry-
leading products such as 32-bit and 64-bit Windows Server 2003
and SQL Server 2005, which launches today, Microsoft will
continue to work closely with Hitachi to provide highly scalable
and reliable solutions to meet enterprise customers' demands for
mission critical systems."

"Red Hat is pleased to support the launch of Hitachi's
BladeSymphony. As part of our Open Source Architecture strategy
for the enterprise, Red Hat is committed to working with
partners to bring to market quality solutions for our enterprise
customers. We believe that Red Hat Enterprise Linux r on
BladeSymphony will deliver high value with high performance,"
said Alex Pinchev, EVP Worldwide Sales/President, International
Operations.

About Hitachi

Hitachi America, Ltd., Information Division, Server Systems
Group, supplies highly scalable and performance-oriented blade
server platforms targeting mid- and large-scale enterprise
customers with solutions offerings ranging from high-end
transaction engines to large scale databases. For more
information about Hitachi blade servers, visit
www.hitachi.us/servers or www.bladesymphony.com.

Hitachi America, Ltd. markets and manufactures a broad range of
electronics, computer systems and products, and consumer
electronics, and provides industrial equipment and services
throughout North America. For more information on Hitachi in
North America, visit http://www.hitachi.us.

Hitachi, Ltd., (NYSE: HIT), headquartered in Tokyo, Japan, is a
leading global electronics company with approximately 347,000
employees worldwide. Fiscal 2004 (ended March 31, 2005)
consolidated sales totaled 9,027.0 billion yen ($84.4 billion).
The company offers a wide range of systems, products and
services in market sectors including information systems,
electronic devices, power and industrial systems, consumer
products, materials and financial services. For more information
on Hitachi, please visit the company's Website at
http://www.hitachi.com.

CONTACT:

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

This is a company press release.


JAPAN AIRLINES: Still on Watch Negative After FY/2005 1H Results
----------------------------------------------------------------
Standard & Poor's Ratings Services said its 'BB-' long-term
credit ratings on Japan Airlines Corp. (JAL) and its wholly
owned subsidiary, Japan Airlines International Co. Ltd. remain
on CreditWatch with negative implications, following JAL's
consolidated financial results for the first half of fiscal 2005
(ended September 30, 2005) and the new corporate reform
initiatives announced November 7, 2005.

The ratings on JAL companies were placed on CreditWatch negative
on September 30, 2005, reflecting concerns over the possible
impact of a series of operational safety problems, deterioration
of JAL's corporate reputation, and increased likelihood of a net
loss for all of fiscal 2005 (ending March 31, 2006). In
particular, a substantial drop in the number of individual
travelers could greatly impact revenues, as individuals provide
a higher margin compared with group travelers. Failure to post
satisfactory profits in the fiscal first half may force the
company to lower its business forecast.

Increased costs from high fuel prices and weak demand, mainly
from domestic individual travelers during the busiest summer
travel season, caused JAL to post a final net loss of �12
billion in the fiscal first half, which forced the company to
lower its forecast to a net loss of JPY47 billion from JPY17
billion profit for all of fiscal 2005.

The corporate reforms announced by JAL include rationalization
measures, such as revamping safety measures, improving services,
reducing board members' remuneration, implementing salary cuts
for all employees, and cutting unprofitable international
routes.

As JAL's first half financial results are in line with Standard
& Poor's expectations, the company remains on CreditWatch. Key
factors in resolving the CreditWatch listing include details
behind the net loss, effectiveness of the restructuring plan,
and progress in implementing measures to address high fuel
prices. In resolving the CreditWatch status, Standard & Poor's
will examine the negative impact on the company's revenues and
financial profile from the drop in passengers, possible
prolonged deterioration of JAL's corporate reputation, and
prospects for recovery of revenues and improvement in debt-to-
capital structure.

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/


MITSUBISHI FUSO: Introduces New Generation Canter in Singapore
--------------------------------------------------------------
Mitsubishi Fuso Truck & Bus Corporation, one of Asia's leading
commercial vehicle manufacturers, today launched its new
generation Canter light-duty truck for the Singapore market.

Featuring a stylish, modern cab with the latest safety features,
the new vehicle is designed for safe, reliable and efficient
operation. The new Canter was introduced to over 1,000
customers, truck drivers and guests during an event presented by
MFTBC's Singapore distributor, Goldbell Engineering.

Bert van Dijk, MFTBC Board member and responsible for
International Sales & Service, said, "We believe current and
potential Singapore customers will be delighted with the new
generation Canter. This new vehicle provides greater interior
room, improved functionality and enhanced safety. It is an
improved version of what the Canter has always been: safe,
reliable, functional, comfortable, economical, and versatile."

Key features of the new Canter include:

- Spacious and comfortable cab with excellent ergonomics
- RISE (Realized Impact Safety Evolution) cab and chassis
structure for maximum safety
- In-dash gearshift for convenience and comfort.
- Independent front suspension system on select models for
optimal ride and comfort.
- Powerful and efficient engines
- Model range from 3.5 tons to 7.7 tons GVW (gross vehicle
weight)

The new Canter is available immediately at Fuso dealerships in
Singapore. The product is built at MFTBC's Kawasaki
manufacturing plant in Japan.

Mr. van Dijk added, "The new Canter will help Mitsubishi Fuso
expand its strong position in Singapore and Southeast Asia."

Mitsubishi Fuso is one of best-selling commercial vehicle brands
in Singapore. In 2005 through September, Mitsubishi Fuso has
sold approximately 1,600 units in Singapore, matching last
year's strong sales performance year to date. The company offers
a comprehensive range of light-, medium- and heavy-duty trucks
and buses for the Singapore market.

Donation to Singapore Red Cross

As a gesture of goodwill during the new Canter introduction in
Singapore, Mitsubishi Fuso announced a donation of S$25,000 to
the Singapore Red Cross. The funds will be used to assist
victims of the South Asia Earthquake and for local causes. "We
are proud of our presence in Singapore and are very pleased to
support Singapore-based charitable efforts," Mr. van Dijk said.

Leader in Southeast Asia

Overall, Mitsubishi Fuso is the commercial vehicle leader in
Southeast Asia with very strong presence throughout the region.
In Indonesia, for example, Fuso's market share is almost 60
percent.

In 2004, MFTBC sold in the international markets outside Japan
approximately 115,000 commercial vehicles (+25% versus 2003).

DaimlerChrysler AG owns 85% of MFTBC shares. The remaining 15%
of shares continue to be held by various Mitsubishi group
companies. Mitsubishi Fuso is an integral part of
DaimlerChrysler's Commercial Vehicles Division.

This is a company press release.

CONTACT:

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


MITSUBISHI MOTORS: Shares Up 7.7% on Output Rise Report
-------------------------------------------------------
Shares of Mitsubishi Motors Corporation surged 7.7 percent after
the Nihon Keizai newspaper reported that the carmaker would
increase second-half domestic vehicle production by 20 percent,
Bloomberg News reports.

The automaker will build 384,000 vehicles for the six months
ending March 2006, the newspaper said on Tuesday.

The company is benefiting from sales recovery in Japan and
overseas, the report said. Mitsubishi Motors will produce
164,000 units for domestic sales, up 20 percent, and 184,000 for
exports, up 11 percent.

Mitsubishi Motors spokesman Shingo Kimura declined to comment on
the numbers saying they're speculative.

CONTACTS:

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


SANDEN CORPORATION: R&I Downgrades Rating to BBB
------------------------------------------------
Rating and Investment Information, Inc. (R&I), has downgraded
the Issuer Rating of Sanden Corporation to BBB from BBB+.

Sanden Corporation is an independent manufacturer of car parts.
In spite of the business base it holds in automotive air
conditioner compressors, which accounts for more than 20% of the
world market share centering in Europe, there has been a
downturn in profits due to cost increases resulting from the
launch of new products and the constant pressure to lower unit
prices.

The company is unlikely to achieve the target for North American
sales expansion. In its logistics system division, the second
pillar of the company's earning base, business conditions in
Japan and overseas has been severe.

The debt, which expanded as a result of capital investment to
establish its Akagi Plant (Gunma Prefecture), is decreasing, but
the speed is slow. Furthermore, there are also possibilities
that the speed will become more sluggish due to the weakening of
the overall profitability and cash flow generating capacity.
Therefore, R&I have downgraded Sanden's Issuer Rating by one
notch to BBB.

However, the compressor business remains competitive to some
extent, and there is little fear that its earnings base would
show sudden erosion. The Rating Outlook is Stable.

For further enquiries:

Rating and Investment Information, Inc.
Credit Rating Division
infodept@r-i.co.jp
Phone:03-3276-3419
Fax:03-3276-3420


SAGAMI CHAIN: R&I Affirms BBB- Rating, Outlook Negative
-------------------------------------------------------
Rating and Investment Information, Inc. (R&I) has affirmed the
BBB- rating of Sagami Chain Co. Limited.

Sagami Chain Co., Ltd. is an operator of Japanese noodle
restaurants which bases in Tokai area. Operating outlets under
the name "Sagami", the company has developed its business along
arterial routes of cities and suburbs. The company is making
efforts at a recovery in customer numbers by focusing on its
popular noodle dishes and is also promoting efficiency in outlet
operations in order to face the severe operational environment;
however, earning power remains weak since it has not yet curbed
the slide in sales.

The burden of dividends is heavy, and retained earnings are on a
declining trend. With equity capital maintained at over 70%,
financial composition is good and R&I believes that the company
still has a leeway in time to wait for the outcomes of the
reform.

However, if the number of customer would not increase and
profitability does not recover, downward pressure on ratings
will not be avoidable. In consideration to such factors, R&I
affirmed the Issuer Rating at BBB- with a Negative Rating
Outlook.

CONTACT:

Sagami Co., Ltd.
2-11 Shimo-Nagaya 6-Chome
Konan-Ku Yokohama 233-0016
Kanagawa 233-0016
JAPAN
Phone: +81 45 820 6000
Fax: +81 45 820 6050
Web site: http://www.sgm.co.jp


SOFTBANK CORPORATION: To Sell European, Korean Sites to Yahoo!
--------------------------------------------------------------
Softbank Corporation said the Softbank group would sell its
entire stakes in Yahoo Inc.'s operations in Europe and South
Korea to the U.S. Internet portal for a total of $500 million,
Japan Today reports.

The deal calls for SB Holdings (Europe) Ltd. in London to sell
the 30 percent stakes it has in each Yahoo UK Ltd, Yahoo France
SAS and Yahoo Deutschland GmbH. In addition, Softbank, Softbank
Korea Co. and Yahoo Japan Corpoaration will sell their combined
stake of 33 percent in Yahoo! Korea Corporation.

By buying out Softbank`s interests, Yahoo! will be able to take
advantage of growth opportunities in Korea and Europe.

CONTACT:

Softbank Corporation
1-9-1 Higashi Shinbashi, Minato-ku
Tokyo 105-7303, Japan
Phone: +81-3-5642-8000
Fax: +81-3-5543-0431


* Ratings on Five Japanese Trading Companies on Watch Positive
--------------------------------------------------------------
Standard & Poor's Ratings Services on Tuesday placed its long-
and short-term corporate credit ratings on Mitsubishi Corp.,
Mitsui & Co. Ltd., Sumitomo Corp., ITOCHU Corp., Marubeni Corp.,
and their subsidiaries and affiliates on CreditWatch with
positive implications.

At the same time, the ratings on debts issued by the five
general trading companies (GTCs), including CP, were also placed
on CreditWatch with positive implications.

"The trading companies have improved the balance between
business risk and capitalization through faster-than-expected
capital accumulation," said Standard & Poor's credit analyst
Ryoji Yoshizawa. "Through restructuring of weaker businesses,
all five GTCs recorded continued profit expansion in the first
half of fiscal 2005 (ended Sept. 31, 2005). Recovering economic
conditions and strong commodity markets have contributed to the
profit increase, but the companies' have also realized profit
improvements from segments not involved in energy and raw
materials."

Meanwhile, GTCs are considering taking more risks in their
investment and loan operations. This strategy is due in part to
investors' requests for effective utilization of accumulating
capital. This more active stance towards lending and investment
is likely to deteriorate their balance of business risk and
capitalization. For example, investments such as project
financing have the potential for unexpected cost overruns. In
addition, increased investment or lending to equity method
affiliates obscures risk levels, as risks related to these
subsidiaries are not fully reflected on the parent's balance
sheet.

Standard & Poor's will resolve the CreditWatch listings after
hearings with the five GTCs about their respective loan and
investment plans, and we will assess the investment risks each
company will undertake in the coming two to three years. In the
hearings, to be carried out over the next three months, Standard
& Poor's will investigate:

Planned investments over the next two to three years, and the
expected balance of risk, capitalization, and profitability;

Countermeasures against increasing risk levels, and

Concentration risks of the investments.

If a GTC's balance of risk, capitalization, and basic
profitability appears likely to improve, the ratings on the
company could be raised. On the other hand, if no improvement is
expected, the ratings will be left unchanged. The possible range
of upgrade for Mitsubishi, Mitsui, Sumitomo, and ITOCHU is
one notch. However, the ratings on Marubeni could be raised up
to two notches because the company's financial profile has
improved relative to the current rating.

Ratings List                             To                 From
Mitsubishi Corp.
   Corporate credit rating               A-/Watch Pos/A-2   A-
/Positive/A-2
   Senior unsecured debt, bank loan      A-
   CP program                            A-2
Mitsui & Co. Ltd.
   Corporate credit rating               A-/Watch Pos/A-2   A-
/Positive/A-2
   Senior unsecured debt                 A-
Sumitomo Corp.
   Corporate credit rating               A-/Watch Pos/A-2   A-
/Positive/A-2
   Senior unsecured debt                 A-
ITOCHU Corp.
   Corporate credit rating               BBB-/Watch Pos/A-3 BBB-
/Stable/A-3
   Senior unsecured debt                 BBB
Marubeni Corp.
   Corporate credit rating               BB/Watch Pos/--
BB/Positive/--
   Senior unsecured debt                 BBB-

Subsidiaries and affiliates
Mitsubishi Corp. Finance PLC
   Long-term corporate credit rating,
senior unsecured debt                    A-
   Short-term corporate credit rating,
CP program                               A-2
Mitsubishi International Corp.
   Long-term corporate credit rating,
senior unsecured debt                    A-
   Short-term corporate credit rating,
CP program                               A-2
Mitsubishi Development Pty. Ltd.
   Senior unsecured debt                 A-
   Short-term debt                       A-2
Mitsui & Co. Financial Services (Australia) Ltd.
   CP program                            A-2
Mitsui & Co. (Hong Kong) Ltd.
   Long-term corporate credit rating     A-
   Short-term corporate credit rating,
CP program                               A-2
Mitsui & Co. (USA) Inc.
   Long-term corporate credit rating     A-
   Short-term corporate credit rating,
CP program                               A-2
Mitsui & Co. International (Europe) B.V.
   Long-term corporate credit rating     A-
   Short-term corporate credit rating,
CP program                               A-2
Mitsui & Co. U.K. PLC
   Long-term corporate credit rating     A-
   Short-term corporate credit rating,
CP program                               A-2
Sumitomo Corp. Capital Europe PLC
   Long-term corporate credit rating     A-
   Short-term corporate credit rating,
CP program                               A-2
Sumitomo Corp. of America
   Long-term corporate credit rating     A-
   Short-term corporate credit rating,
CP program                               A-2


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

MANDO CORPORATION: Bidders Down to Two
--------------------------------------
Only two domestic firms are left in the race to bid for auto
parts maker Mando Corp., JoongAng Daily reveals.

Siemens AG and TRW Automotive Holdings Corp. were eliminated
from the race for bidding a much lower price compared to
Sunsage's target of KRW1.5 trillion to KRW2 trillion.  Sunsage
is the largest shareholder of Mando of 73.1 percent stake.

Sunsage also demanded that Mando should be a guaranteed supplier
to Hyundai Motor Co. for the next 10 years.  Hyundai Motor, the
nation's largest automaker, is now the sole negotiating partner.

Halla Engineering and Construction Corp., which, together with
its chairman Chung Mong-won, holds a combined 19.5 percent stake
in Mando, is not formally participating in the bidding, but
holds the right to match the final price offered by the
preferred bidder.

However, the bids are falling. Hyundai said it would not pay
more than KRW800 billion, while Halla will match a bid under
KRW1 trillion. Mando management reportedly does not want new
owners.


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

ANTAH HOLDING: Non-Compliance to Rules Entails De-listing
---------------------------------------------------------
Further to Antah Holding Berhad's (Antah) announcement on
October 31, 2005, the Company informed Bursa Malaysia Securities
Berhad the following consequences on the non-compliance with
Bursa Securities LR under paragraph 9.23(b) in relation to non-
issuance of the annual audited accounts (AAA) for the financial
year ended (FYE) June 30, 2005 within the stipulated timeframe,
i.e. October 31, 2005 (Due Date):

(a) The trading in the securities of the Company would be
suspended on the market day following the expiry of the three
(3) months period from the Due Date and shall only be lifted on
the market day following the submission of the AAA for the FYE
June 30, 2005.

However, in view that the trading in the securities of the
Company had been suspended since February 2, 2005, hence the
suspension would be continued should the Company fail to issue
and submit the AAA by January 31, 2006.

(b) Bursa Securities shall commence de-listing procedures
against the Company should the Company fails to issue the AAA
within six (6) months from the Due Date.

This announcement is dated 8 November 2005.

CONTACT:

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


BELL & ORDER: Amends Definition of Completion Date of SPA
---------------------------------------------------------
Bell & Order Berhad issued to Bursa Malaysia Securities Berhad
an update to the following proposals:

- Proposed Rights Issue;

- Proposed Acquisitions;

- Proposed Go Exemption; and

- Proposed Increased in Authorized Share Capital

(hereinafter collectively referred to as the Proposals)

The company refers to the announcements made on January 7, 2005
and September 29, 2005. The definitions in the abovementioned
announcements shall apply herein unless specified otherwise or
the context otherwise requires.

Avenue, on behalf of B&O, advised that:

(i) B&O, KMC OB and KMC OC have on November 7, 2005 entered into
a supplemental letter to amend the definition of the Completion
Date in SPA 1; and

(ii) B&O and SCOMI have on November 7, 2005 entered into a
supplemental letter to amend the definition of the Completion
Date in SPA 2.

The definition of the Completion Date in SPA 1 and SPA 2 is
amended as follows:

"Completion Date" means the date falling on the Fifth business
day after the satisfaction of the last conditions in Clause 3.1,
or due waiver thereof, or such other date as the parties may
agree in writing.

Save for the above and the supplemental letters executed on
September 29, 2005 (as announced on September 29, 2005), all the
other terms and conditions as contained in SPA 1 and SPA 2
continue to be in full force and binding on the parties thereto.

This announcement is dated November 7, 2005.

CONTACT:

Bell & Order Berhad
28 & 30 Jalan Pjs 11/14
Bandar Sunway
Petaling Jaya 46150
Malaysia
Phone: 03 - 56336966
Fax: 03 - 56345081


FOUNTAIN VIEW: Unveils Directors Dealing in Securities
------------------------------------------------------
Fountain View Development Berhad (Company) has received a
notification pursuant to Paragraph 14.09 of the Listing
Requirements of Bursa Securities from Datin Yam Yuet Chew, an
Executive Director of the Company of her dealings in the
securities of the Company outside the closed period.

Details of which are set out below:

Date of (Disposal)    No. of Shares    %     Price (RM)
or acquisition

25/10/2005           (68,000)        0.0167      0.345

Her shareholding after the disposal are as follows:

(1) 17,885,900 (Direct) and 7,330,496 (Indirect) Ordinary Shares
of MYR1.00 each representing 4.38 percent and 1.80 percent
respectively.

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

The Notice was received on November 7, 2005.


HAP SENG: Buys Back 16,500 Shares
---------------------------------
Hap Seng Consolidated Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:

Date of buy back: November 7, 2005

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

Total number of shares purchased (units): 16,500

Minimum price paid for each share purchased (MYR): 2.050

Maximum price paid for each share purchased (MYR): 2.120

Total consideration paid (MYR): 35,024.50

Number of shares purchased retained in treasury (units): 16,500

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

Cumulative net outstanding treasury shares as at to-date
(units): 33,652,500

Adjusted issued capital after cancellation (no. of shares)
(units): 0

CONTACT:

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


KEMAYAN CORPORATION: AGM Slated for November 30
-----------------------------------------------
The Board of Directors of Kemayan Corporation Berhad announced
that the Fortieth Annual General Meeting of the Company will be
held at Mutiara Hotel Johor Bahru, Sri Panti 2, 2nd Floor, Jalan
Dato' Sulaiman, Taman Century, 80250 Johor Bahru, Johor on
Wednesday, November 30, 2005 at 9:00 a.m. for the purposes as
per attached.

FILE FOR UPLOAD

CONTACT:

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


KRAMAT TIN: Sees No Progress in Plan
------------------------------------
Further to the announcement dated October 3, 2005, the Board of
Directors of Kramat Tin Dredging Berhad (KTD) advised Bursa
Malaysia Securities Berhad that the status of KTD's plan remains
unchanged from what had been announced on October 3, 2005.

This announcement is dated 7 November 2005.

CONTACT:

Kramat Tin Dredging Berhad
No 12 Jalan Gelenggang Bukit Damansara
50490 Kuala Lumpur, 50490
Malaysia
Telephone: +60 3 2092 5588
Fax: +60 3 2093 9917


MAGNUM CORPORATION: Purchases New Ordinary Shares
-------------------------------------------------
Magnum Corporation Berhad furnished Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:

Date of buy back from: October 24, 2005

Date of buy back to: October 28, 2005

Total number of shares purchased (units): 1,605,000

Minimum price paid for each share purchased (MYR): 1.940

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

Total amount paid for shares purchased (MYR): 3,179,558.47

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

Number of shares purchased retained in treasury (units):
1,605,000

Total number of shares retained in treasury (units): 70,151,700

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

Total issued capital as diminished:

Date lodged with registrar of companies: November 7, 2005

Lodged by: Ms Gan Cheong Ann

CONTACT:

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


MITRAJAYA HOLDINGS: Dormant Unit Winds Up
-----------------------------------------
Mitrajaya Holdings Berhad (MITRA) advised Bursa Malaysia
Securities Berhad that the shareholders of Kasland Development
Sdn Bhd (KDSB), a dormant company, had at an Extraordinary
General Meeting held on August 5, 2005 resolved that KDSB be
wound up voluntarily.

KDSB is a subsidiary of Konsortium Kasland Sdn Bhd, which in
turn is a 51 percent-owned subsidiary of MITRA.

The shareholders of KDSB also resolved the appointment of Ms Tan
Choon Hwa @ Esther Tan Choon Hwa as its liquidator.

The said voluntary winding up is not expected to have any
material effect on the earnings and net tangible assets of the
MITRA Group.


MULPHA LAND: Bourse Denies Request to Uplift PN17 Status
--------------------------------------------------------
Mulpha Land Berhad (MLB) (formerly known as Mega Pascal Berhad)
issued to Bursa Malaysia Securities Berhad a monthly
announcement on the status of plan to regularize PN17 status
pursuant to Practice Note 17/2005 (PN17/2005).

The Board of Directors has on October 3, 2005 announced that MLB
has on 15 September 2005 submitted an application to Bursa
Malaysia Securities Berhad (BMSB) to uplift the PN17/2005
classification of MLB.

The said submission has been made in accordance with Paragraph
4.1 of PN17/2005 which requires MLB to submit a regularization
plan by November 15, 2005.

BMSB has vide its letter dated October 26, 2005 informed MLB
that its PN17/2005 classification cannot be uplifted yet as it
has not achieved the level of business or operations stipulated
under PN17/2005 (the Requirement).

Following the reply from BMSB and in view of the deadline of
November 15, 2005, MLB will submit an application to BMSB to
seek an extension of time of up to six months to May 15, 2006 to
comply with the Requirement.


PANTAI HOLDINGS: AGM Set For Month's End
----------------------------------------
Notice is hereby given that the Thirty Third Annual General
Meeting of Pantai Holdings Berhad (PHB) will be held at Dewan
Pantai, Ground Floor, Pantai Medical Centre, No. 8 Jalan Bukit
Pantai, 59100 Kuala Lumpur on Wednesday, November 30, 2005 at
10:00 a.m. for the following purposes:

AGENDA

(1) To receive and adopt the Audited Financial Statements of the
Company for the financial year ended June 30, 2005 together with
the Reports of the Directors and Auditors thereon. Resolution 1

(2) To approve the payment of final dividend of 2 percent less
income tax of 28 percent in respect of the financial year ended
June 30, 2005. Resolution 2

(3) To approve the payment of Directors' fees in respect of the
financial year ended June 30, 2005. Resolution 3

(4) To re-elect Eliza Jasmin Binti Hashim, the Director retiring
pursuant to Article 90 of the Company's Articles of Association.
Resolution 4

(5) To re-elect the following Directors retiring pursuant to
Article 92 of the Company's Articles of Association: Resolution
5

(i) Dr. Lim Cheok Peng              Resolution 6


(ii) Ashish Jaiprakash Shastry      Resolution 7

(iii) Vivek Jetley                  Resolution 8

(iv) Foo Moh Lee                    Resolution 9

(v) Michael Lim Hee Kiang

(6) To appoint Auditors of the Company for the ensuing year and
to authorize the Directors to fix their remuneration.

Notice of Nomination from a shareholder pursuant to Section
172(11) of the Companies Act, 1965, had been received by the
Company for the nomination of Messrs. KPMG (a copy is annexed
hereto and marked Annexure A), for appointment as Auditors and
of intention to propose the following Ordinary Resolution:

"THAT Messrs. KPMG be and are hereby appointed Auditors of the
Company in place of the retiring Auditors, Messrs. Deloitte
KassimChan, and to hold office until the conclusion of the next
Annual General Meeting and that authority be and is hereby given
to the Directors to determine their remuneration." Resolution 10

(7) As Special Business:

To consider and if thought fit, pass the following resolution(s)
as Ordinary Resolution(s):

Ordinary Resolution - Authority to allot shares pursuant to
Section 132D of the Companies Act, 1965

"THAT, subject always to the Companies Act, 1965, the Articles
of Association of the Company and the approval of the relevant
government/regulatory authorities, the Directors be and are
hereby empowered pursuant to Section 132D of the Companies Act,
1965, to issue shares in the Company from time to time and upon
such terms and conditions and for such purposes as the Directors
may deem fit provided that the aggregate number of shares issued
pursuant to this resolution does not exceed 10% of the issued
capital of the Company for the time being and that such
authority shall continue in force until the conclusion of the
next Annual General Meeting." Resolution 11

Ordinary Resolution - Proposed renewal of authority for the
purchase by the Company of its own ordinary shares

"THAT, subject to the Companies Act, 1965 (the Act), rules,
regulations and orders made pursuant to the Act, provisions of
the Company's Memorandum and Articles of Association and the
requirements of the Bursa Malaysia Securities Berhad (Bursa
Securities) and any other relevant authority, the Directors of
the Company be and are hereby authorized to make purchases of
ordinary shares of MYR1.00 each in the Company's issued and
paid-up share capital through Bursa Securities subject further
to the following:

(1) The number of ordinary shares of MYR1.00 each in PHB (PHB
Shares) which may be purchased or held by the Company shall not
exceed ten per centum (10%) of the issued and paid-up share
capital for the time being of the Company, subject to a
restriction that the issued and paid-up share capital of PHB
does not fall below the applicable minimum share capital
requirements of Bursa Malaysia Securities Listing Requirements;

(2) The maximum fund to be allocated by the Company for the
purpose of purchasing the PHB Shares shall not exceed the total
retained profits and share premium account of the Company. As at
June 30, 2005, the audited retained profits and share premium
account of the Company amounted to RM13.1 million and RM134.4
million respectively;

(3) The authority conferred by this resolution will commence
immediately upon passing of this ordinary resolution and will
continue to be in force until:

(a) The conclusion of the next annual general meeting (AGM) of
the Company following the general meeting at which such
resolution was passed at which time it shall lapse unless by
ordinary resolution passed at the meeting, the authority is
renewed, either unconditionally or subject to conditions;

(b) The expiration of the period within which the next AGM after
that date is required by law to be held; or

(c) Revoked or varied by ordinary resolution passed by the
shareholders in general meeting, whichever occurs first, in any
event, in accordance with the provisions of the guidelines
issued by Bursa Securities and any prevailing laws, rules,
regulations, orders, guidelines and requirements issued by any
relevant authorities; and

(4) Upon completion of the purchase(s) of the PHB Shares by the
Company, the Directors of the Company be and are hereby
authorized to cancel the PHB Shares so purchased or to retain
the PHB Shares so purchased as treasury shares, of which may be
distributed as dividends to shareholders, and/or resold on Bursa
Securities, and/or subsequently cancelled or to retain part of
the PHB Shares so purchased as treasury shares and cancel the
remainder and in any other manner as prescribed by the Act,
rules, regulations and orders made pursuant to the Act and the
requirements of Bursa Securities and any other relevant
authority for the time being in force;

AND THAT the Directors of the Company be and are hereby
authorized to take all such steps as are necessary or expedient
to implement, finalize or to effect the purchase(s) of the PHB
Shares with full powers to assent to any conditions,
modifications, resolutions, variations and/or amendments (if
any) as may be imposed by the relevant authorities and to do all
such acts and things as the said Directors may deem fit and
expedient in the best interest of the Company." Resolution 12

(8) To transact any other business of which due notice shall
have been given.

Notice of Dividend Entitlement and Payment Date

Notice is also given that subject to the approval of Members at
the Annual General Meeting to be held on November 30, 2005, a
final dividend of two percent less income tax of 28 percent for
the financial year ended June 30, 2005 will be paid on December
30, 2005 to Depositors whose names appear in the Record of
Depositors on December 15, 2005.

A Depositor shall qualify for the entitlement only in respect
of:

(a) Shares transferred to the Depositor's securities account
before 4:00 p.m. on December 15, 2005 in respect of transfers;

(b) Shares deposited into the Depositor's securities account
before 12:30 p.m. on December 13, 2005 in respect securities
exempted from mandatory deposit;

(c) Shares bought on Bursa Malaysia Securities Berhad (BMSB) on
a cum entitlement basis according to the Rules of BMSB.

By Order of the Board
Noel Chua (LS 005781)
Company Secretary
Kuala Lumpur
8 November 2005

Notes:

(1) A member entitled to attend and vote at the meeting is
entitled to appoint a proxy or proxies to attend and vote on his
(her) behalf. A proxy may but need not be a member of the
Company and the provisions of Section 149(1)(b) of the Companies
Act, 1965 shall not apply to the Company.

(2) Where a member appoints two (2) or more proxies, the
appointment shall be invalid unless he(she) specifies the
proportions of his(her) holdings to be represented by each
proxy.

(3) The Form of Proxy shall be signed by the appointer or his
(her) attorney duly authorized in writing or, if the member is a
corporation, it must be executed under its common seal or by its
duly authorized attorney or officer.

(4) The instrument appointing a proxy must be deposited at the
registered office of the Company at 3rd Floor, Block B, Pantai
Medical Centre, No. 8 Jalan Bukit Pantai, 59100 Kuala Lumpur not
less than 48 hours before the time for holding the meeting (or
any adjournment thereof).

CONTACT:

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


PELIKAN INTERNATIONAL: Enters Into RRPT with Subsidiaries
---------------------------------------------------------
Pelikan International Corporation Berhad furnished Bursa
Malaysia Securities Berhad details of the Recurrent Related
Party Transactions of a revenue or trading nature (RRPT).

(1) Introduction

Pursuant to Paragraph 10.09 and Practice Note 12 of the Listing
Requirements of Bursa Malaysia Securities Berhad, the Board of
Directors of Pelikan International Corporation Berhad (formerly
known as Diperdana Holdings Berhad) (Pelikan International or
the Company) advised that the following RRPT have been entered
into between the Company and its subsidiaries (the Group) with
Konsortium Logistik Berhad (Konsortium) and its subsidiaries
(Konsortium group) in the period from October 1, 2005 to October
31, 2005: Contracting Party Nature of RRPT Related Party Amount
(2) Rationale

The RRPT are:

- Necessary for the day-to-day operations of the Group;

- Undertaken on an arm's length basis;

- On commercial terms which are not more favorable to the
related parties than those generally available to the public;
and

- Not detrimental to the minority shareholders.

The RRPT between the Group and Konsortium group have enabled the
respective groups to reap mutual benefits and are expected to
continue benefiting the Group.

(3) Financial Effects

The transactions do not have any financial effects and have no
impact on the share capital of Pelikan International, earnings
and net tangible assets of the Group.

(4) Director's and Major Shareholders' Interests

Mr. Loo Hooi Keat is a director and major shareholder of Pelikan
International. He is also a director and a major shareholder of
Konsortium.

En Mirzan bin Mahathir is a major shareholder of Pelikan
International. He is also a director and major shareholder of
Konsortium.

Save as disclosed above and as far as the Directors are aware,
none of the other Directors, major shareholders and/or persons
connected to them has any interest, direct or indirect in the
abovementioned RRPT.

(5) Approval

The RRPT are not subject to the approval of the shareholders of
Pelikan International or any regulatory authorities.


POHMAY HOLDINGS: RO Extension Lapses
------------------------------------
Pohmay Holdings Berhad (Pohmay) issued to Bursa Malaysia
Securities Berhad details of the Restraining and Stay Order.

The Company notified Bursa Malaysia Securities Berhad (Bursa
Malaysia) that the Court Order dated August 10, 2005 granting
the Company and its following subsidiary companies a Restraining
and Stay Order for a period of 90 days lapsed on November 7,
2005:

(1) Pohmay Craft Sdn Bhd (101175-U)
(2) Steamer Furniture Industries Sdn Bhd (219006-P)

(3) Pohmay Resources Sdn Bhd (346227-H)

(4) Pohmay Furniture Industries Sdn Bhd (202323-H)

(5) Denverange Sdn Bhd (252814-A)

(6) Patent Collection Sdn Bhd (323642-P)

(7) Decorplus Sdn Bhd (192184-X)

(8) Homeline Marketing Sdn Bhd (436227-V)

(9) Naturest Industries Sdn Bhd (382544-A)

(10) Pohmay Contract Furnishing Sdn Bhd (499617-U)

(11) Pohmay Development Sdn Bhd (499600-X)
(Formerly known as Pohmay East Malaysia Sdn Bhd)

(12) Calamus Plantation Sdn Bhd (377130-K)\

(13) Calamus Bukit Kuamas Sdn Bhd (377131-U)

collectively to be referred to as (the Group)

The Company advised that the Group is submitting an application
to the Court for an extension of time for the Order and the time
to convene a creditors meeting to facilitate the finalization of
the restructuring scheme.

This announcement is dated 7 November 2005.

CONTACT:

Pohmay Holdings Berhad
No. 23, Jalan Maharajalela,
Kuala Lumpur Wilayah
Persekutuan 50150 Malaysia
Telephone: 03-21419500
Fax: 03-21417730


TANAH EMAS: Issues Notice of Book Closure
-----------------------------------------
Tanah Emas Corp. Berhad issued to Bursa Malaysia Securities
Berhad a Notice of Book Closure with the following details:

EX-date: November 25, 2005

Entitlement date: November 29, 2005

Entitlement time: 05:00:00 p.m.

Entitlement subject: Loan Stock Interest

Entitlement description:

Fourth interest payment for the MYR40,957,430 nominal value
five-year two percent Irredeemable Convertible Unsecured Loan
Stocks 2001/2006 (ICULS).

Period of interest payment: December 11, 2004 to December 10,
2004

Financial Year End: June 30, 2005

Share transfer book & register of members will be closed from
(both dates inclusive) for the purpose of determining the
entitlements:

to Registrar's name ,address, telephone no:

Securities Services (Holdings) Sdn Bhd
Level 7, Menara Milenium
Jalan Damanlela, Damansara Heights
50490 Kuala Lumpur
Telephone: 03-20849000
Payment date: December 10, 2005

(a) Securities transferred into the Depositor's Securities
Account before 4:00 p.m. in respect of transfers: November 29,
2005

(b) Securities deposited into the Depositor's Securities Account
before 12:30 p.m. in respect of securities exempted from
mandatory deposit:

(c) Securities bought on the Exchange on a cum entitlement basis
according to the Rules of the Exchange.

Number of new shares/securities issued (units) (If applicable):

Entitlement indicator: Percentage

Entitlement in percentage (%): 2

Remarks:

ICULS bear a fixed coupon rate of 2% per annum payable annually
in arrears.


THREE-FIVE SYSTEMS: Kontron Acquiring Company
---------------------------------------------
Kontron, the German embedded computer technology specialist is
set to acquire the insolvent Three-Five Systems of Malaysia, via
its Taiwanese subsidiary, for $1.8 million, relates Borsen
Zeitung.

Kontron also plans to transfer its entire production to
Malaysia.  The Taiwanese plant will be also transferred to
Malaysia. The plant has a capacity to manufacture 250,000
miniature computers per year.

The new plan is expected to manufacture up to 600,000 embedded
computers every year.


UMW HOLDINGS: Wholly Owned Unit Ceases Operations
-------------------------------------------------
Further to our announcement dated December 16, 2004 on the
liquidation of UMW Equipment Systems (Changshu) Co. Ltd., UMW
Holdings received the Foreign Investment Liquidation Approval
Notice from the Jiangshu Province Shuzhou Industrial &
Commercial Administration Authority, People's Republic of China,
confirming that our 100 percent owned subsidiary company, UMW
Equipment Systems (Changshu) Co., Ltd. (UMW Changshu), has been
fully wound up.

Other than the liquidation expenses, there is no material impact
on the net tangible assets and earnings per share of the UMW
Group arising from the liquidation.


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

APEX MINING: Mapula Files Amended Tender Offer Report
-----------------------------------------------------
Further to Circular for Brokers No. 4328-2005 dated September
27, 2005, Apex Mining Co., Inc. furnished the Philippine Stock
Exchange a copy of the Amended Tender Offer Report (SEC Form 19-
1 filed by Mapula Creek Gold Corporation.

The said reports reflected amendments to the following:

(1) Item 3. Purpose of the Tender Offer and Plans or Proposals
of the Bidder; and

(2) Item 4. Interest in Securities of the Issuer.

Attached is a copy of the said report for your reference.
http://bankrupt.com/misc/tcrap_apexmining110805.pdf

CONTACT:

Apex Mining Company Inc.
6/F Manila Bank Building
6772 Ayala Avenue, Makati City 1226
Telephone:  810-0882; 892-6504
Fax: 810-0887


APEX MINING: Crew Gold Revises Tender Offer Report
--------------------------------------------------
Further to Circular for Brokers No. 4328-2005 dated September
27, 2005, Apex Mining Co., Inc. furnished the Philippine Stock
Exchange a copy of the Amended Tender Offer Report (SEC Form 19-
1 filed by Crew Gold Corporation.

The said reports reflected amendments to the following:

(1) Item 3. Purpose of the Tender Offer and Plans or Proposals
of the Bidder; and

(2) Item 4. Interest in Securities of the Issuer.

(3) Item 5. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer

Attached is a copy of the said report for your reference.
http://bankrupt.com/misc/tcrap_2apexmining110805.pdf


DMCI HOLDINGS: Clarifies Report on Power Plant Construction
-----------------------------------------------------------
DMCI Holdings Incorporated issued this announcement with regard
to the news articles entitled "DMCI to spend AU$400M for 2 power
plants" published in the November 7, 2005 issue of the
BusinessWorld.

The article reported in part that:

"Consuji company DMCI Holdings Inc. is planning to build two
200-megawatt coal-fired power plants in Semirara in a bid to tap
a new revenue stream while ensuring take up for the output of
its coal-mining unit.

In an interview, DMCI President Isidro A. Consuji said the
company will spend AU$400M for the two power plants which will
form part of a multibillion-peso government program consisting
of major interconnection projects that is envisioned to provide
medium and long-term solutions to the looming power crisis in
the Visayas.

Herbert M. Consuji, Chief Finance Officer, said DMCI has yet to
formally signify its interest to National Transmission Co.
(TransCo)."

DMCI said it is studying the possibilities of building a mine-
mouth power plant in Semirara Island that will benefit the Luzon
and Visayas grid. The said power plant has to be integrated to
the 2006 Philippine Energy Plan and is subjected to government
approval. The feasibility of the project will also depend on
National Transmission Company (TransCo) for interconnection.

CONTACT:

DMCI Holdings Incorporated
3/F, Dacon Building
2281 Chino Roces Ave. Ext.
Makati City 1231
Telephone:  888-3000
Fax:  816-7362
E-mail Address: dmcihi@dmcinet.com
Web site: http://www.dmchi.com


NATIONAL FOOD: El Nino Hurts Production, Ups Farmgate Price
-----------------------------------------------------------
National Food Authority (NFA) Administrator Gregorio Y. Tan, Jr.
said the agency was able to accomplish only 22 percent of its
month-to-date procurement target due to the effects of El Nino
during the first semester.

Since January, the NFA was able to buy only 757,375 bags of
palay out of the targeted 3.4 million bags.

Mr. Tan said this year's drought affected palay production
during the summer harvest and delayed planting for the main
harvest in some palay producing regions of the country.

The weak harvest posted during the palagad or summer harvest and
the consequent delay in planting for the main crop resulted in
the high palay buying price of the private traders that posed
stiff competition for the NFA's buying activities.

Mr. Tan noted, however, that the high palay price being offered
by the private grain traders benefits farmers by giving them a
higher remunerative income for their production.

He said that in some areas particularly in Eastern Visayas, the
price of palay reached even as high as Php11.18 per kg while the
lowest is posted in Central Mindanao at Php9.52 per kg.

On the whole, the agency's active involvement both in palay
buying and rice selling profited the producers by providing them
a better buying price for their produce and the consumers
affordable rice.

CONTACT:

National Food Authority
101 E. Rodriguez Sr. Ave.,
Quezon City, 1100
Philippines
Web site: http://www.nfa.gov.ph/


NATIONAL FOOD: Intensifies Procurement Operations
-------------------------------------------------
The National Food Authority (NFA) has already bought some 402,
283 bags of palay as it intensifies its procurement operations
nationwide.

As of October 26, the NFA has achieved 44% of its procurement
target of 906,500 bags for the month of October. The NFA is
targeting to buy 3,443,800 bags of palay for the entire year. At
least 21.99% of this target has been achieved or a total of
757,375 bags.

NFA Administrator Gregorio Y. Tan, Jr. has instructed the
agency's field officials to actively undertake procurement
operations through the agency's 530 buying stations
strategically located nationwide.

Mr. Tan said palay farmers may take advantage of the NFA's
buying price of P10 per kilogram with additional incentives of
P0.50 per kilogram for drying, delivery, and cooperative
development.

The NFA is also undertaking a program with local government
units (LGUs) or legislators to help increase the buying price of
palay by as much as P1.00 per kilogram or a total of P11/kg..
The LGUs or legislators may enter into an agreement with the NFA
under the Palay Marketing Assistance for Legislators and Local
Government Units (PALLGU) program which gives them the right to
purchase stocks from NFA with a P1/kg premium for the farmer-
sellers. The stocks bought under PALLGU may be stored in
designated NFA warehouses for free for up to four months.

However, if the stocks are not withdrawn after the 4-month free
storage period, the NFA shall charge the buyer with 1.5%
carrying cost for the 5th month until the maximum period of
storage of 6 months. The NFA may then auction or sell the palay
stocks if the buyer is not able to withdraw the same after 6
months.

A warehouse stock receipt and purchase receipt will be issued to
the seller (farmer) reflecting the total agreed price broken
down into NFA support price and the premium provided by the
buyer (LGUs), as evidence of palay stocks sold under the
program.

Meanwhile, the food agency is maintaining 328 units of
mechanical dryers across the country which farmer cooperatives
may use with minimum fees.

For more information on NFA programs, the public may send their
inquiries, suggestions or complaints via the Text NFA Program
through mobile number 0917-6210927.


NATIONAL POWER: Solon Hits Delay of Calaca Rebidding
----------------------------------------------------
The chairman of the House committee on Energy has criticized
government decision to postpone the rebidding of National Power
Corporation's (Napocor) Calaca facility, The Philippine Star has
learned.

Rep. Alipidio Badelles has expressed deep concern over the
continuing delay in Napocor's privatization particularly the
sale on its 600-megawatt (MW) Calaca coal-fired power plant.

Energy Secretary Raphael P.M. Lotilla earlier announced that the
scheduled bidding for the Calaca plant has been postponed and
reset to an indefinite date.

But Rep. Badelles stressed he is doubtful of the efforts to
speed up the privatization. He said it is almost a becoming
standard pattern to hear from energy officials tasked to dispose
of Napocor's assets to revise the dates of the scheduled
biddings.

While the EPIRA (Electric Power Industry Reform Act) has
mandated the privatization of the power plants of Napocor, the
records would show that the privatization program is long-
delayed," he said.

Rep. Badelles pointed out that four years since the approval of
EPIRA should have been enough time for energy officials to, at
least, claim by this time that they are nearing their targets.

To date, only about 10 percent of the assets of Napocor have
been privatized.

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/


PILIPINO TELEPHONE: Net Income Up to Php6.9 Bln
-----------------------------------------------
Pilipino Telephone Corporation announced its financial results
for the first nine months of 2005, as it recorded a net income
of Php6.9 billion compared with a profit of Php975 million in
the same period last year.

Net income before foreign exchange gains would have been Php6.1
billion compared to Php968 million last year.

Operating Results

Piltel's service revenues in the first nine months of 2005 grew
76% to Php7.7 billion, compared to Php4.4 billion in the first
nine months of 2004, as a result of the growth in revenue
contribution from the Talk `N Text subscriber base. Piltel is
the Philippines' third largest cellular operator with 5 million
subscribers on Talk `N Text, the Company's prepaid GSM service.
Talk `N Text recorded net additions of approximately 395,000 in
the first nine months of 2005 although net activations in the
third quarter declined significantly to 43,000, reflecting
changes in the competitive situation and the termination of SIM-
swapping activities in early May 2005. The downward trend in the
subscriber base is expected to continue for the balance of the
year with net disconnections expected for the fourth quarter.
Piltel also had 46,448 landline subscribers as of 30th September
2005.

Net GSM service revenues, after deducting Smart's share of
Php1.9 billion, interconnection expenses and costs of pre-loaded
airtime, increased by 89%, to Php7.1 billion in the first nine
months of 2005 from Php3.8 billion in the same period in 2004,
when Smart's share was Php4.3 billion or 50% of GSM revenues.
GSM revenues now make up 94% of Piltel's net revenues.

Total expenses decreased by 68%, from Php5.4 billion during the
first nine months of 2004 to Php1.7 billion in the same period
in 2005, mainly due to the lower cost of handsets and SIM packs
sold and a larger foreign exchange gain for 2005.

The Company recorded a financing gain of Php317 million in the
first nine months of 2005 compared to an expense of Php1 billion
in the same period in 2004. A foreign exchange gain of Php827
million was recorded as the Peso appreciated against both the US
Dollar and Japanese Yen, as compared to the first nine months of
2004 when a Php7.2 million foreign exchange gain was taken. As
of 30th September 2005, Piltel's total long-term debts stood at
Php18.5 billion.

As a result of the improved operating results and the impact of
recent changes in management agreements and foreign exchange
gains, the Company posted a net income of Php6.9 billion.

CONTACT:

Pilipino Telephone Corporation
G/F Mobiline Centre
6764 Ayala Avenue
1200 Makati City
Philippines
Telephone: 63 2 811 8888
Fax: 63 2 817 6888


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

CHINA AVIATION: In Talks with Potential Investors on Rescue Plan
----------------------------------------------------------------
China Aviation Oil (Singapore) Corp. Limited (CAO) is currently
in talks with four foreign investors interested in acquiring a
stake in the troubled firm in order to avoid bankruptcy, reports
Reuters News.

The investors are slated to aid in turning around the Company,
which almost went bankrupt after billions of dollars in oil
trading losses. Auditors said that insufficient risk management
controls and a failure to follow industry standards in valuing
its options portfolio led to the Company's near-collapse in
November 2004.

CAO's Chinese parent is still negotiating with Singaporean
investment firm Temasek Holdings for a joint inection of funds
amounting to SGD221.3 million. A European oil firm, a financial
fund, and foreign oil giant BP are among those interested in
injecting funds into CAO, according to a source close to the
matter, who also said that talks could end by next week.

CONTACT:

China Aviation Oil (S) Corp. Ltd.
Phone: (65)6334 8979
Fax:   (65)6333 5283
Web site: http://www.caosco.com/


FIRST ASIA: Distributes Final Dividend
--------------------------------------
First Asia Publishing Pte Limited posted a notice of intended
dividend at the Government Gazette, Electronic Edition with the
following details:

Name of Company: First Asia Publishing Pte Limited
Last day for receiving proofs: Nov. 18, 2005
Name  & address of Liquidators: Kon Yin Tong and Wong Kian Kok
Foo Kon Tan Grant Thornton
47 Hill Street #05-01
Chinese Chamber of Commerce & Industry Building
Singapore 179365

Dated this 4th day of November 2005


NH CERAMICS: Passes Resolutions at AGM
--------------------------------------
NH Ceramics Limited announced that the following ordinary
resolutions put to the Company's Annual General Meeting (AGM)
held on Oct. 28, 2005 were duly passed:

1. That the accounts for the year ended June 30, 2005 together
with the Directors' and Auditors' Reports thereon as published
and circulated to all members and now submitted to this meeting
be and are hereby received and adopted.

2. That a sum of SGD44,000 be approved for payment as Directors'
Fees for the year ended June 30, 2005.

3. That Ms. Margaret Tay Hui Hia retired in accordance with
Article 94 of the Company's Articles of Association, but being
eligible and offering herself for re-election, be and is hereby
re-elected as Director of the Company.

4. That Mr. Ong Siew Peng retired in accordance with Article 95
of the Company's Articles of Association, but being eligible and
offering himself for re-election, be and is hereby re-elected as
Director of the Company.

5. That Ernst & Young be and are hereby re-appointed auditors of
the Company to hold office until the conclusion of the next
annual general meeting and that the Directors be authorised to
fix their remuneration.

6. Special Business

6.1 Authority to Issue Shares

That pursuant to Section 161 of the Companies Act, Cap. 50 and
the listing rules of the Singapore Exchange Securities Trading
Limited, authority be and is hereby given to the Directors of
the Companyto allot and issue shares in the Company at any time
to such persons and upon such terms and conditions and for such
purposes as the Directors may in their absolute discretion deem
fit, provided that the aggregate number of shares to be issued
pursuant to this resolution does not exceed 50% of the Company's
issued share capital, of which the aggregate number of shares to
be issued other than on a pro-rata basis to existing
shareholders does not exceed 20% of the Company's issued share
capital, and for the purpose of this resolution, the issued
share capital shall be the Company's issued share capital at the
time this resolution is passed (after adjusting for new
shares arising from the conversion or exercise of convertible
securities or exercise of share options or vesting of share
awards outstanding or subsisting at the time this resolution is
passed and any subsequent consolidation or subdivision of the
Company's shares), and unless revoked or varied by the Company
in general meeting, such authority shall continue in force until
the conclusion of its next Annual General Meeting (AGM) or the
date by which the next AGM is required by law to be held,
whichever is the earlier.

Louis Pang Nghee Thiam
Company Secretary

Date: Oct. 28, 2005

CONTACT:

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


SNP LOGISTICS: Asks Creditors to Submit Debt Claims
---------------------------------------------------
Notice is hereby given that the creditors of SNP Logistics Pte
Limited, which is being wound up voluntarily, are required on or
before Dec. 5, 2005 to send in their names and addresses and the
particulars of their debts or claims and the names and addresses
of their solicitors (if any) to the Company Liquidator, and, if
so required by notice in writing from the said Liquidator, are
by their solicitors, or personally, to come in and prove their
said debts or claims at such time and place as shall be
specified in such notice: in default thereof, they will be
excluded from the benefit of any distribution made before such
debts are proven.

Dated this 4th day of November 2005

Chia Soo Hien
Liquidator
c/o BDO Raffles
5 Shenton Way
#07-01 UIC Building
Singapore 068808


STATS CHIPPAC: Cancels Unregistered Noted Worth SGD150-Mln
----------------------------------------------------------
STATS ChipPAC Limited, a leading independent semiconductor test
and advanced packaging service provider, announced on Oct. 26,
2005 that all SGD150 million of its outstanding unregistered
7.5% Senior Notes due 2010 (including Existing Notes tendered
pursuant to guaranteed delivery procedures) were tendered and
accepted in connection with the Company's offer to exchange its
Existing Notes for 7.5% Senior Notes due 2010 that have been
registered under the Securities Act of 1933, which expired On
Oct. 19, 2005, 5:00 p.m., New York City time.

In connection with the offer to exchange, the Company has
cancelled all SGD150 million aggregate principal amount of the
Existing Notes that were trading on the Singapore Exchange
Securities Trading Limited under the ISIN codes US85771TAD63 and
USY8162BAB19, and issued SGD150 million aggregate principal
amount of the New Notes under ISIN code US85771TAE47, which will
be listed on the Singapore Exchange Securities Trading Limited.

CONTACT:

STATS ChipPAC Limited
10 Ang Mo Kio Street 65
#05-17/20 Techpoint
Singapore 569059
Phone: 65 6824 7777
Fax:   65 6720 7823
Web site: http://www.statschippac.com/


YEW SENG: Members File Petition to Wind Up Firm
-----------------------------------------------
Notice is hereby given that Tan Ngiap Kwee and Joseph Tan Giap
Joo, members of Yew Seng (Lian) Pte Limited, presented a winding
up petition against the Company to the Singapore High Court on
Oct. 26, 2005.

The petition is directed to be heard before the Court sitting at
Singapore on Nov. 18, 2005, 10:00 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 Petitioners', Tan Ngiap Kwee's address is at 117 Bukit Batok
West Avenue 6 #24-242, Singapore 650117 and Joseph Tan Giap
Joo's address is at 428 Tampines Street 41 #04-479, Singapore
520428.

The Petitioners' solicitors are Messrs Colin Ng & Partners of 50
Raffles Place, #29-00 Singapore Land Tower, Singapore 048623.

Colin Ng & Partners
Solicitors for the Petitioners

Note:

Any person who intends to appear at the hearing of the said
Petition must serve on or send by post to solicitors Messrs.
Colin Ng & Partners, 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, firm, or his or their solicitor (if any)
and must be served, or, if posted, must be sent by post in
sufficient time to reach the solicitors not later than 12:00
p.m. of Nov. 17, 2005 (the day before the day appointed for the
hearing of the Petition).

CONTACT:

Yew Seng (Lian) Pte Limited
51 Lorong, 23 Geylang
YSL Building, Singapore 388378
Phone: 65 67435511
Fax:   65 67460113
Email: yslltd@singnet.com.sg


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

NATURAL PARK: Sets Up New Unit
------------------------------
Natural Park Public Company Limited, informed the Stock Exchange
of Thailand (SET) that the Board of Director's meeting held on
November 7, 2005 has resolved to approve to set up a new
subsidiary company with the following details:

(1) Date/Month/Year of Transaction: Around November 2005

(2) Name of New Subsidiary Company: Park Japan Co., Ltd.

(3) Business Type: Real Estate Development

(4) Registered Capital: THB100,000, divided into
1,000 ordinary shares, par value of THB100

(5) Major Shareholder: The Company holds shares at
99.3 percent of total registered capital

(6) Source of Funds: Investment Capital of the Company

(7) Purpose of Investment: To invest in the Ratchaphatsadu land
at Rong Pasee Roi Chak Sam

(8) Total Value of Transaction: Investment capital in Park Japan
Co. Ltd. is totaling at THB99,300 equally to 0.002 percent of
net asset value of the Company.

Please be informed accordingly.

Sincerely Yours
Akarapong Puldrapaya
Vice President Strategic Planning

CONTACT:

Natural Park Public Company Limited
Address: 88 Soi Klang (Sukhumvit 49),
Sukhumvit Road, Wattana, Bangkok
Telephone: 0-2259-4800-11
Fax: 0-2259-4819, 0-2259-4815


NATURAL PARK: Concludes Sale of Unit's Assets to PA
---------------------------------------------------
Natural Park Public Company Limited (N-PARK) issued to the Stock
Exchange of Thailand an update to the sale of assets related to
the Chedi Chiang Mai Hotel of Natural Real Estate Company
Limited (subsidiary of N-PARK) and the common shares of Deluxe
Origin Company Limited, the owner of Chedi Chiang Mai Serviced
Apartment, to Pacific Assets Public Company Limited (PA) at Book
Value on the date of transaction.

N-Park notified the SET on the progress of the sale of assets to
PA as follow:

PA has completed the due diligence of the Chedi Chiang Mai
Hotel.

On October 20, 2005, N-PARK has transferred assets related to
the Chedi Chiang Mai Hotel to PA and has received payment from
PA.

Whereas, the purchase price, which equivalent to the Book Value
on the date of transaction (October 20, 2005), equals
THB1,023.27 million (excludes Value Added Tax).

However, since the Book Value on the date of transaction was
prepared by the management, thus, after the auditor has reviewed
the financial statements for the period ended September 30,
2005, the purchase price or Book Value may be adjusted according
to the financial statements that has been reviewed by an
auditor.

In addition, the sale of Chedi Chiang Mai Hotel to PA will
benefit N-PARK by an increase in efficiency in managing
properties to N-PARK group since PA has expertise in managing
hotels and N-PARK will gain financial stability whereby the cash
received can be used to develop existing projects, which
included capital increase of Natural Hotel Siam Company Limited
as disclosed to the Stock Exchange of Thailand on October 26,
2005, or seek for new future business opportunities.

Also, N-PARK will still recognize 63.4 percent of revenue and
profit of the Chedi Chiang Mai Hotel from PA.

Please be informed accordingly.

Sincerely Yours,
Mr. Sermsin Samalapa
President and Chief Executive Officer


THAI WAH: Creditors Accept Amendment of Reorganization Plan
-----------------------------------------------------------
Thai Wah Public Co. Ltd. refers to the letter to the Stock
Exchange of Thailand (SET) dated October 18, 2005 submitted by
Class B Director of Thai Wah Group Planner Co Ltd as a Plan
Administrator of Thai Wah PCL.

The company advised that at the creditors' meeting on October
31, 2005, the creditors of the Company voted to accept the
amendments to the business reorganization plan as follows:

(1) Amendment to extend the plan implementation period for
another one year following the original expiry date.  Therefore,
the time to implement the plan will end on November 14, 2007.
The amendment has been passed with a vote of 99.25 percent.

(2) Amendment in relation to framework of the Special Purpose
Vehicle (SPV). The summary of this amendment is shown in the
letter dated October 18, 2005. This amendment has been passed
with a vote of 86.82 percent.

The Central Bankruptcy Court has scheduled the date to consider
the amendments which have been approved by the creditors on
November 28, 2005 at 10:00 a.m. The creditors who did not vote
to approve the plan amendments and the debtor have rights to
object to the Court in accordance with the Section 90/57 of the
Bankruptcy Act.

Please be informed accordingly.

Yours sincerely,
Ian Pascoe
Class B Director of Wah Group Planner Co Ltd,
as the Plan Administrator of Thai Wah PCL.

CONTACT:

Thai Wah Public Company Limited
21/63-64, 21/66A, 21/68 Thai Wah Tower I, 21st, 22nd, 24th
floor, South Sathorn, Tungmahamek, Sathorn, Bangkok 10120
Telephone: 0-2285-0040, 0-2285-0241-56
Fax: 0-2285-0269-70
Web site: http://www.thaiwah.com







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