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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

           Thursday, November 17, 2005, Vol. 8, No. 228

                            Headlines

A U S T R A L I A

AGENIX LIMITED: Unveils Results of 2005 AGM
AGITRANS PTY: Court Orders Winding Up
ANDERSON MOTORS: Members Resolve to Liquidate Business
ARLUNYA PTY: Liquidator to Distribute Company Assets
AUSTRAL COAL: Centennial to Close Takeover Offer

AUSTRALIAN COAST: Members, Creditors to Review Wind Up Report
BRISBANE TOWING: Enters Voluntary Liquidation
BUSINESS AUSTRALIA: Court Appoints Liquidator
CAVALLO FARMS: Winds Up Business
CREATIVE VISION: Appoints Official Liquidators

DAVTIN CORP: Set to Declare Final Dividend
FINDHEAD PTY: Decides to Shut Down Operations
FLAVOURS KOSHER: Winding Up Process Initiated
FORTESCUE METALS: Proceeds with Allied Demerger
GRANGEBROOK ENTERPRISES: Schedules Final Meeting Nov. 25

G RETAIL: Battle Over Brand Clouds Chance of Sale
KIOZ PTY: Placed Under Voluntary Liquidation
L.M. HOLDINGS: Members Convene to Discuss Wind Up
LA HAULAGE: Court Names Alden Halse Liquidator
MAL SMITH: Declares First Dividend

MEDICAL PRODUCTS: Goes Into Administration
OKOPNYI PTY: Liquidator to Detail Wind Up Manner
STIDIS ADMINISTRATION: Members Agree to Liquidate Firm
TELSTRA CORPORATION: Taps Strategic Partners
TELSTRA CORPORATION: Ratings Placed on Watch Negative

TELSTRA CORPORATION: Says Cisco, Ericsson Deals Worth AU$2 Bln
TRANS DECK: Intends to Pay Dividend to Creditors
VALUATION HOLDINGS: Members Pass Winding Up Resolution
VILLAGE ROADSHOW: Resumes Payout, Share Buyback
WA STONEY: Members Resolve to Liquidate Firm


C H I N A  &  H O N G  K O N G

BANK OF CHINA: Targets IPO in First Quarter
BESTWAY INTERNATIONAL: Results Swing to HK$14.5 Mln Profit
GREAT FORTUNE: Set to Wind Up Operations
JILIN CHEMICAL: Releases Notice of H Share Class Meeting
J.P. MORGAN SECRETARIES: Creditors Asked to Prove Debt

LIK FUNG: Court Issues Winding Up Order
METEX STAINLESS: To Undergo Winding Up Process
MEYTIC LIMITED: Enters Winding Up Process
NEW WORLD: Notes Unusual Price, Volume Movements
POCH LIMITED: Court Issues Winding Up Order

PROFIT ERA: Issues Debt Claim Notice
TIN SHING: Creditors to Prove Debts by December 12


I N D I A

FOOD CORPORATION: Government OKs Bond Issuance
HINDUSTAN PETROLEUM: Inks Supply Deal with FMM
HINDUSTAN PETROLEUM: Advises of Changes in Auditing Team
ISPAT INDUSTRIES: Undertakes Capital Restructure
ISPAT INDUSTRIES: Sets Record Date for Shares Allotment

* RBI Unveils Debt Restructuring Mechanism for SMEs


I N D O N E S I A

GARUDA INDONESIA: To Launch New Route Next Year
PERTAMINA: Prohibits Fuel Supply to Batavia Air
PERTAMINA: Says Will Abide by Government's Decision on Cepu Deal


J A P A N

ARIX COMPANY: METI Orders Three-month Suspension
JAPAN AIRLINES: Carries Lower Import Volumes This Year
MITSUBISHI FUSO: Releases 'Environmental and Social Report 2005'
SANYO ELECTRIC: Shares Jump on Stake Sale News
SONY CORPORATION: U.S. Unit Expects Profit Next Year

SONY CORPORATION: Launches New HD Product Line-Ups
TOSHIBA CORPORATION: Dissolves MediaServe Corporation
* October Bankruptcies Up 4.1%


K O R E A

DOOSAN GROUP: Launches Probe Anew
SSANGYONG MOTOR: Union Favors Strike


M A L A Y S I A

AMSTEEL CORPORATION: Unveils Resolutions Passed at AGM
FURQAN BUSINESS: Unit Inks Settlement Agreement with Danaharta
GULA PERAK: Bond Maturity Date Set December 17
LANKHORST BERHAD: Results Swing to Black in 2Q/FY05
MAGNUM CORPORATION: Issues New Shares for Listing, Quotation

MALAYAN UNITED: Concludes Sale of Two Remaining Hotels
MAXIS COMMUNICATIONS: Bourse to List, Quote New Shares
MBF HOLDINGS: Books MYR6,060,000 Net Profit in 3Q/FY05
MYCOM BERHAD: To Convene AGM Next Month
PANTAI HOLDINGS: Converts ICULS to Ordinary Shares

POS MALAYSIA: New Shares up for Listing, Quotation
SOUTHERN BANK: Issues New Shares for Listing, Quotation
SURIA CAPITAL: Unit Inks MoU with SPSB
TANAH EMAS: Converts ICULS to Ordinary Shares
TELEKOM MALAYSIA: Unit Begins Winding Up Proceedings

TELEKOM MALAYSIA: Unit to Acquire MTT Network Share Capital
WONG ENGINEERING: Buys Back 8,000 Ordinary Shares


P H I L I P P I N E S

DIGITAL TELECOMMUNICATIONS: Widens Net Loss to Php1.80 Bln
FORUM PACIFIC: Net Loss Balloons to Php6.56 Mln
LAFAYETTE MINING: Workers Tell Probe Team Spill No Accident
MANILA ELECTRIC: ATR-Kim Eng Cuts Net Loss Estimate
PHILIPPINE AIRLINES: Cuts Fuel Surcharge on Domestic Flights


S I N G A P O R E

COBURN ENTERPRISES: Asks Creditors to Submit Debt Claims
FHTK HOLDINGS: Appoints Independent Director
GREATRONIC LIMITED: Names New Company Secretary
INFORMATICS HOLDINGS: Releases Information on Financial Report
MAE ENGINEERING: Disposes of Entire Stake in Unit

PACOM S.E. ASIA: Seeks Liquidation
SPH MEDIAWORKS: Intends to Pay Dividend to Creditors


T H A I L A N D

ADVANCE AGRO: Earns B- Rating from S&P
ASIA HOTEL: Securities Trading Still Suspended
BANGKOK STEEL: Explains Third Quarter Financial Results
T.C.J. ASIA: Exits Business Reorganization

     -  -  -  -  -  -  -  -

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

AGENIX LIMITED: Unveils Results of 2005 AGM
-------------------------------------------
All resolutions at the Annual General Meeting of Agenix Limited
held (Tuesday) were passed and the following information is
provided in accordance with Section 251AA(2) of the Corporation
Act:

Resolutions

Resolution 1  To consider the re-election of Mr. Neil Leggett
              as a Director.
              Passed as an ordinary resolution on a show of
              hands.

Resolution 2  To consider the re-election of Dr. Andre Lamotte
              as a Director.
              Passed as an ordinary resolution on a show of
              hands.

Resolution 3  To consider the re-election of Mr. FF Wong
              (Wong Fong Fui) as a Director.
              Passed as an ordinary resolution on a show of
              hands.

Resolution 4  To consider the adoption of the Directors'
              Remuneration Report and the remuneration
              disclosures contained therein,
              as a non-binding vote of shareholders.
              Passed as an ordinary resolution on a show of
              hands.

The valid proxy votes received by Agenix Limited for the
resolutions were:

Resolution     For       Against     Open     Abstain
    1       47,261,595   547,580  2,897,041   452,500
    2       47,739,676   292,649  2,899,541   226,850
    3       47,821,270   244,155  2,872,041   221,250
    4       46,850,315 1,023,130  2,971,041   314,230

CONTACT:

Agenix Limited
11 Durbell Street
Acacia Ridge QLD 4110
Phone: +61 7 3370 6396
Fax: +61 7 3370 6347
E-mail: mail@agenix.com
Web site: http://www.agenix.com


AGITRANS PTY: Court Orders Winding Up
-------------------------------------
On Oct. 17, 2005, the Federal Court of Australia ordered the
winding up of Agitrans Pty Limited, and appointed James Stewart
as Company Liquidator.

Dated this 27th day of October 2005

James Stewart
Liquidator
Ferrier Hodgson
Level 29, 600 Bourke Street
Melbourne Vic 3000


ANDERSON MOTORS: Members Resolve to Liquidate Business
------------------------------------------------------
At an extraordinary general meeting of the members of Anderson
Motors (Gladstone) Pty Limited held on Oct. 18, 2005, it was
resolved that the Company be wound up voluntarily, and Richard
Charles Adrian was appointed as Liquidator for such purpose.

Dated this 18th day of October 2005

Richard C. Adrian
Liquidator
Level 4, 340 Adelaide Street
Brisbane Qld 4000


ARLUNYA PTY: Liquidator to Distribute Company Assets
----------------------------------------------------
At a general meeting of the members of Arlunya Pty Limited held
on Oct. 28, 2005, the following special resolutions were passed:
That the Company be wound up under the provisions applicable to
a Members' Voluntary Liquidation, and that Angela Ann Gaffney be
and is hereby appointed as Company Liquidator.

That the Liquidator is hereby authorized to distribute the
Company assets (in specie) to the members as she sees fit.

Dated this 28th day of October 2005

G. S. Manning
Director
c/o RSM Bird Cameron
1st Floor, 8 St. Georges Terrace
Perth WA 6000


AUSTRAL COAL: Centennial to Close Takeover Offer
------------------------------------------------
The Directors of Centennial Coal Limited have decided not to
extend Centennial's takeover offer for Austral Coal beyond its
presently scheduled closing date of November 21.

Accordingly the offer will finally close at 7 p.m., Sydney time
on November 21.

CONTRACT:

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


AUSTRALIAN COAST: Members, Creditors to Review Wind Up Report
-------------------------------------------------------------
Notice is given that a meeting of the members and creditors of
Australian Coast & Rural Enterprises Pty Limited will be held on
Nov. 24, 2005, 2:00 p.m. at the offices of Messrs Ernst & Young,
Chartered Accountants, Level 5, Waterfront Place, 1 Eagle
Street, Brisbane, for the following purposes:

AGENDA

To present the Liquidator's account showing the manner in which
the winding up was conducted and the property of the Company
disposed of, and to hear any explanation that may be given by
the Liquidator.

Dated this 27th day of September 2005

Justin Walsh
Liquidator
Ernst & Young Chartered Accountants
Level 5, Waterfront Place
1 Eagle Street, Brisbane Qld 4000


BRISBANE TOWING: Enters Voluntary Liquidation
---------------------------------------------
Notice is given that at an extraordinary general meeting of
Brisbane Towing & Management Services Pty Limited held on Oct.
17, 2005, the following Special Resolution was passed:

That the Company be wound up voluntarily, and that Terrence
James Smith be appointed as Liquidator for such winding up.

Dated this 17th day of October 2005

Terrence J. Smith
Liquidator
c/o Allens Australia Pty Limited
1st Floor, 1925 Logan Road
Upper Mount Gravatt Qld 4122


BUSINESS AUSTRALIA: Court Appoints Liquidator
---------------------------------------------
The Australian Securities and Investments Commission (ASIC)
obtained orders in the Supreme Court of New South Wales
appointing Mr. Andrew Hugh Jenner Wily, of Armstrong Wily in
Sydney, as liquidator of Business Australia Capital Finance Pty
Ltd (BACF).

The orders were obtained by consent after ASIC issued
proceedings in the Supreme Court of NSW on 18 May 2005 applying
for, amongst other things, the winding up of BACF on just and
equitable grounds.

BACF was placed into voluntary administration on 9 November 2005
and Mr. Wily and Mr. David Anthony Hurst, of Armstrong Wily,
were appointed joint administrators.

ASIC obtained orders by consent on 23 May 2005 appointing Mr.
David John Frank Lombe and Mr. Peter George Yates, of Deloitte
Touche Tohmatsu, Sydney, as interim receivers to the assets of
the BACF Unit Trust and the BACF Investment Unit Trust (the unit
trusts) respectively.

ASIC also joined BACF Investments Pty Ltd (In Liquidation),
Bondedge Pty Ltd (In Liquidation) and Business Australia Capital
Mortgage Pty Ltd (In Liquidation) as co-defendants in the
proceedings due to their role in the operation and management of
the unit trusts which ASIC alleged were unregistered managed
investment schemes. Mr. Wily is also the liquidator appointed to
the co-defendants.

"The orders today ensure that investors' rights and company
assets are protected. The liquidation of all four companies,
which we alleged operated the unregistered investment schemes,
can now be conducted by same liquidator. We believe that this
provides benefits to creditors by ensuring that all available
funds can be considered centrally to the benefit of all
creditors," ASIC's Executive Director of Enforcement, Ms Jan
Redfern said.

Background

Managed investment schemes with more than 20 members are
required to be registered under the Corporations Act 2001 (the
Act). ASIC may apply to the court to wind up an unregistered
managed investment scheme under the Act.

In its application to the court, ASIC alleged that:

The BACF Unit Trust and the BACF Investment Unit Trust were
unregistered managed investment schemes; and

Bondedge Pty Ltd operated the unit trust known as the BACF Unit
Trust and BACF Investments Pty Ltd operated the unit trust known
as the BACF Investment Unit Trust in contravention of the
management scheme provisions of the Act.


CAVALLO FARMS: Winds Up Business
--------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Cavallo Farms Pty Limited held on Oct. 17,
2005, it was resolved that the Company be wound up voluntarily,
and James Patrick Downey of Cole Downey & Co. Chartered
Accountants, Level 1, 22 William Street, Melbourne
Vic 3000 was appointed as Liquidator at a creditors' meeting
held that same day.

Dated this 18th day of October 2005

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


CREATIVE VISION: Appoints Official Liquidators
----------------------------------------------
Notice is given that at a general meeting of the members of
Creative Vision & Audio Pty Limited held on Oct. 21, 2005, Susan
Carter and Jason Bettles of Downie Insolvency, Level 6, Fifty
Cavill Avenue, Surfers Paradise, Queensland were appointed as
Liquidators for the winding up.

Dated this 26th day of October 2005

Jason Bettles
Susan Carter
Liquidators
Downie Insolvency
Level 6, Fifty Cavill Avenue
Surfers Paradise, Queensland
Web site: http://www.downieinsolvency.com.au/


DAVTIN CORP: Set to Declare Final Dividend
------------------------------------------
Davtin Corp. Pty Limited will declare a final dividend tomorrow,
Nov. 18, 2005.

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

Dated this 5th day of October 2005

Gregory W. Hall
Liquidator
Level 15, 201 Sussex Street
Sydney NSW 1171


FINDHEAD PTY: Decides to Shut Down Operations
---------------------------------------------
Notice is given that at an extraordinary general meeting of
Findhead Pty Limited held on Oct. 17, 2005, the following
Special Resolution was passed:

That the Company be wound up voluntarily, and that Terrence
James Smith be appointed as Liquidator for the winding up.

Dated this 17th day of October 2005

Terrence J. Smith
Liquidator
c/o Allens Australia Pty Limited
1st Floor, 1925 Logan Road
Upper Mount Gravatt Qld 4122


FLAVOURS KOSHER: Winding Up Process Initiated
---------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Flavours Kosher Catering Pty Limited held on
Oct. 21, 2005, it was resolved that the Company be wound up
voluntarily, and Michael Stephen Hawkins Royal of Business
Improvement and Restructuring Services, Suite 5a, 19-21 Central
Road, Miranda NSW 2228 was appointed as Liquidator at a
creditors' meeting held later that day.

Dated this 21st day of October 2005

Michael S. H. Royal
Liquidator
Business Improvement and Restructuring Services
Suite 5a, 19-21 Central Road
Miranda NSW 2228
Phone: 02 9531 8365
Fax:   02 9531 8367


FORTESCUE METALS: Proceeds with Allied Demerger
-----------------------------------------------
Participating Organizations are advised that the board of
Fortescue Metals Limited (FMG) have resolved to proceed with the
demerger of Allied Medical Limited (Allied) by way of an equal
distribution of capital as approved by shareholders at the
Annual General Meeting (AGM) on November 8, 2005.

The distribution will be one Allied share for every 50 FMG
shares held on the record date.

The following timetable applies.

15 November 2005    Company Announces Equal Distribution of
                    Capital to Proceed

17 November 2005    Trading Of Shares commence on an ex return
                    of capital basis

23 November 2005    Record Date

6 December 2005     Dispatch of Allied Medical Limited share
                    certificates to shareholders of FMG

CONTACT:

Fortescue Metals Group Limited
Fortescue House
50 Kings Park Road
WEST PERTH
WESTERN AUSTRALIA WA 6005
Phone: +61 8 9266 0111
Fax: +61 8 9266 0188
E-mail: fmgl@fmgl.com.au
Web site: http://www.fmgl.com.au/


GRANGEBROOK ENTERPRISES: Schedules Final Meeting Nov. 25
--------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Grangebrook Enterprises Pty Limited will be held on
Nov. 25, 2005, 10:00 a.m. at the offices of Hamiltons Chartered
Accountants, Level 17, 25 Bligh Street, Sydney, New South Wales.

The purpose of the meeting is to present the liquidator's
account showing the manner of the winding up and disposal of the
property of the Company, and to give any explanation thereof.

Dated this 18th day of October 2005

W. J. Hamilton
Liquidator
c/o Hamiltons Chartered Accountants
Level 17, 25 Bligh Street
Sydney NSW 2000
Phone: 02 9232 6611
Fax:   02 9232 6166, DX 1208


G RETAIL: Battle Over Brand Clouds Chance of Sale
-------------------------------------------------
G Retail Limited's founding family wants Gowings brand name
erased, according to the Sydney Morning Herald.

The third generation of retailers from the Gowing family tried
to remove the Gowings name from the menswear business that made
the company's name and fortune in a move threatening chances of
a bailout sale of the embattled business.

The Gowing family has reportedly met with property agents to
discuss the future of the landmark CBD property before telling
the retailer's administrators it was revoking their license to
trade under the Gowings name. The administrator later met
creditors and gave its direct warning.

The Gowing family's listed investment vehicle, Gowing Bros, sent
a fax to the administrator of G Retail, the business that ran
Gowings retail, saying it could no longer use the Gowings name
under the terms of its license because it had placed in
administration.

But the administrators from Deloitte are understood to dispute
the claim because the Gowings business and not its assets as
claimed by Gowing Bros have been placed in administration.
Deloitte will keep trading as Gowings and try to sell the
business.

Gowing Bros managing director, John Gowing, the great-grandson
of the founder of the business John Ellis Gowing, could not be
reached for comment.

CONTACT:

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


KIOZ PTY: Placed Under Voluntary Liquidation
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Kioz Pty Limited held on Oct. 19, 2005, it was
resolved that the Company be wound up voluntarily, and Dean R.
McVeigh of Foremans Business Advisors (Southern) Pty Limited,
Suite 8, 56-60 Bay Road, Sandringham 3191 was appointed as
Liquidator at a creditors' meeting held that day.

Dated this 19th day of October 2005

Dean R. McVeigh
Liquidator
Foremans Business Advisors (Southern) Pty Limited
Suite 8, 56-60 Bay Road
Sandringham 3191


L.M. HOLDINGS: Members Convene to Discuss Wind Up
-------------------------------------------------
Notice is given that at a final meeting of the members of L.M.
Holdings Pty Limited will be held on Nov. 25, 2005.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up was conducted and the
property of the Company disposed of, and to receive any
explanation of the account.

Grant A. Slater
Liquidator
Bentleys MRI Canberra
Level 1, 13 London Circuit
Canberra ACT 2601


LA HAULAGE: Court Names Alden Halse Liquidator
----------------------------------------------
On Oct. 25, 2005, the Federal Court of Western Australia ordered
the winding up of LA Haulage Pty Limited, and appointed Alden
Jon Halse to be the Company Liquidator.

Dated this 25th day of October 2005

Alden J. Halse
Ferrier Hodgson
Level 26, 108 St. George's Terrace
Perth WA 6000
Phone: 08 9214 1444
Fax:   08 9214 1400


MAL SMITH: Declares First Dividend
----------------------------------
Mal Smith Pty Limited will declare a first dividend on Nov. 18,
2005.

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

Dated this 21st day of October 2005

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


MEDICAL PRODUCTS: Goes Into Administration
------------------------------------------
Pharmanet Group Limited has been advised that administrators
have been appointed to Medical Products Group Pty Ltd and its
subsidiaries.

McGrathNicol Partners have been appointed Administrators.

The Company has received the assignment of the security from the
National Australia Bank (NAB) and is currently reviewing all
available options.

CONTACT:

Pharmanet Group Limited
Level 1, 284 Oxford Street,
Leederville, WA 6007
Phone: +61 8 9242 2999
Fax: +61 8 9443 2859
E-mail: info@pharmanet.com.au


OKOPNYI PTY: Liquidator to Detail Wind Up Manner
------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Okopnyi Pty Limited will be held on Nov. 25, 2005,
10:00 a.m. at Ngan & Co., Level 5, 49 Market Street,
Sydney NSW 2000, for the following reasons:

AGENDA

(1) To receive the Liquidator's account showing how the winding
up was conducted and the property of the Company disposed of,
and to receive any explanation required thereof.

(2) To consider any other business brought before the meeting.

Dated this 18th day of October 2005


P. Ngan
Liquidator
Ngan & Co.
Level 5, 40 Market Street
Sydney NSW 2000


STIDIS ADMINISTRATION: Members Agree to Liquidate Firm
------------------------------------------------------
Notice is hereby given that on Oct. 20, 2005, the following
special resolution was passed in:

That Stidis Administration Services Pty Limited be wound up
voluntarily relating to a Creditors' Voluntary Winding Up, and
that B. J. Marchesi, Chartered Accountant of 332 St. Kilda
Road, Melbourne be appointed as Liquidator for such purpose.

Dated this 21st day of October 2005

B. J. Marchesi
Liquidator
Bent & Cougle Pty Limited Chartered Accountants
Level 5, 332 St. Kilda Road
Melbourne Vic 3004


TELSTRA CORPORATION: Taps Strategic Partners
--------------------------------------------
Telstra Corporation announced the appointment of several key
vendors who will assist Telstra in delivering its network
transformation strategies.

These appointments are an element of the strategic review
announced by Telstra chief executive officer, Mr. Sol Trujillo.

Alcatel - IP network transformation

Telstra unveiled its IP network transformation vision for fixed
broadband services.

Telstra also announced that it had chosen Alcatel as one of its
key strategic partners for its ground breaking IP network
transformation project.

Telstra and Alcatel entered into a memorandum of understanding
(MoU) under which they will negotiate formal agreements to
reflect their strategic partnership.

The MoU envisages that Alcatel will provide Telstra with
comprehensive network solutions and end-to-end integration
capabilities. Alcatel's responsibilities will include network
design and integration, product supply, deployment, maintenance
and on-going support, in relation to broadband access, Ethernet
aggregation, fixed next generation voice and network
integration.

Telstra's Network Transformation Project will migrate Telstra's
voice and broadband access networks into a single IP-based
infrastructure for the cost-effective delivery of services to
Telstra's customers.

Ericsson - 3G city-to-country mobile network strategy

Telstra announced that it had chosen Ericsson Australia Pty Ltd
as the vendor to develop its 3G city-to-country mobile network
strategy under a memorandum of understanding.

As Telstra's chosen supplier Ericsson will provide a broad range
of services including design, construction, support and
maintennace services and equipment for its 3G core and radio
access network infrastructure.

It is proposed that Ericsson will commence construction on
Telstra's 3G city-to-country mobile network service from early
next year.

Cisco - IP Core Network Upgrade

Telstra has selected Cisco Systems Australia Pty Ltd as its
preferred vendor to upgrade  its IP Core Network under a
memorandum of understanding.

The IP Core Network Upgrade Project involves end-to-end delivery
of a new IP Core network to  replace Telstra's existing Telstra
Internet Direct (TID) and Routed Data Networks (RDN).

The upgraded IP Core Network will deploy the Cisco carrier
routing system (CRS-I) and will deliver increased capacity,
performance, predictability and continuous operation to allow
Telstra to bring to market a range of Internet Protocol (IP)-
based services for residential and business customers.

Further Announcements

Telstra is also in discussions with several other vendors and
expects to make further announcements in relation to these
discussions shortly.

CONTACT:

Telstra Corporation
Level 41 - Telstra Centre, 242 Exhibition Street,
Melbourne, Victoria, Australia, 3000
Telephone: (03) 9634 6400
Fax: (03) 9632 3215
Web site: http://www.telstra.com.au/


TELSTRA CORPORATION: Ratings Placed on Watch Negative
-----------------------------------------------------
Standard & Poor's Ratings Services placed its 'A+' corporate
credit rating on Telstra Corp. Ltd. on CreditWatch with negative
implications. The action follows Telstra's announcements
following its strategic review, and particularly the disclosed
increase in financial risk appetite.

Resolution of the CreditWatch is likely within three months, and
the rating is expected to remain in the 'A' category, consistent
with our expectation when the outlook was changed to negative in
May this year.

"Telstra's announcements today reflect the previously observed
deteriorating operating environment and need for significant
investment, but also its willingness to increase leverage in
order to fund its development objectives and maintain a high
dividend," said Standard & Poor's credit analyst Colin Atkin,
Corporate & Infrastructure Finance Ratings.

"Standard & Poor's had previously expected the company to be
able to withstand further deterioration in the underlying
business environment, but its willingness now to increase
leverage to accelerate its investment plans indicates a
heightened risk tolerance."

As part of Telstra's presentation on the outcomes of its
strategic review, the company disclosed:

An increased financial risk appetite. Non-lease adjusted
leverage-related metric boundaries increasing as follows: debt
to EBITDA to 1.7x to 2.1x from 1.4x to 1.7x; and EBITDA interest
cover to greater than 7x from greater than 8x; A significant
increase in planned capex, to more than A$25 billion in the next
five years compared to A$17.5 billion in the past five years;
and While the company has decided not to proceed with the third
year of its three-year A$1.5 billion annual capital return, it
will maintain its ordinary dividend payment for at least the
next three years.

Fundamentally, Telstra's existing business is underpinned by its
leading market position and stable cash flows. In addition to
the plans announced (Tuesday), Telstra remains exposed to an
uncertain regulatory environment that makes its business
position less predictable as the company shifts its business mix
more toward newer technology revenue streams. Uncertainty
surrounding regulatory influences on the business is likely to
be reduced over the next few months, but regulatory risk is
likely to remain an inherent feature of the company's profile.

Further, there remains additional risk surrounding the impact,
if any, on the company's business profile and further changes to
its financial risk appetite should the government complete the
proposed sale of its 52% of Telstra next year.


TELSTRA CORPORATION: Says Cisco, Ericsson Deals Worth AU$2 Bln
--------------------------------------------------------------
Telstra Corporation admitted the contracts warded to U.S.-based
Cisco Systems Inc. and Sweden's Ericsson to build new network
amounted to more than AU$2 billion (US$730 million) each,
Reuters reports.

On Tuesday, the telco announced the contracts to build an
Internet Protocol (IP)-based network and a third generation (3G)
mobile service on Tuesday when chief executive Sol Trujillo
unveiled his five-year plan for the company.

A third contract was awarded to French telecoms equipment
manufacturer Alcatel which said the deal, its biggest ever, was
worth EUR2.18 billion (US$2.55 billion).

Telstra plans to spend AU$10 billion over five years on the new
IP-based network of which AU$2 billion to AU$3 billion is on top
of existing plans.


TRANS DECK: Intends to Pay Dividend to Creditors
------------------------------------------------
Trans Deck Pty Limited will declare a final dividend on Nov. 18,
2005.

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

Dated this 24th day of October 2005

Wayne Benton
Liquidator
Trans Deck Pty Limited
c/o PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


VALUATION HOLDINGS: Members Pass Winding Up Resolution
------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Valuation Holdings Pty Limited held on Oct.
20, 2005, it was resolved that the Company be wound up
voluntarily, and James Patrick Downey of Cole Downey & Co.
Chartered Accountants, Level 1, 22 William Street, Melbourne
Vic 3000 was appointed as Liquidator at a creditors' meeting
held later that day.

Dated this 21st day of October 2005

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


VILLAGE ROADSHOW: Resumes Payout, Share Buyback
-----------------------------------------------
Shares in Village Roadshow soared to a record closing price
since April after the firm said it would deliver a dividend for
the first time in three years, Sydney Morning Herald reports.

The film production group recently announced a review of its
capital management strategy and again paved the way for its
three biggest shareholders to undertake another share buyback.

The three major shareholders are managing director Graham Burke,
chairman Robert Kirby and deputy chairman John Kirby.

Village proposes to spend about AU$23 million on up to 16.5
million more of its ordinary shares. Should the three directors
decide not to participate in the buyback, they will increase
their voting stake from 63.5 to 70.4 percent, held through their
private company Village Roadshow Corporation.

But Village would not comment on speculation the three majority
owners were looking to privatize the company, arguing instead
that a full capital restructure was long overdue.

Curiously, Village said that all other directors except Mr.
Burke and the Kirby brothers had agreed to the new buyback and
that the "company has not yet received any information from VRC
as to its intentions in regard to participation".

Village will pay a one-off, fully franked dividend of 7.175c for
each ordinary share and 10.175c for each preference share.

CONTACT:

Village Roadshow Limited
206 Bourke Street
Melbourne Vic 3000
Australia
Phone: 61 3 9667 6666
Fax: 61 3 9639 1540
Web site: http://www.village.com.au/


WA STONEY: Members Resolve to Liquidate Firm
--------------------------------------------
Notice is hereby given that at a general meeting of the members
of WA Stoney & Sons Limited held on Oct. 20, 2005, it was
resolved that the Company be wound up voluntarily, and that
Murray William Stoney of 97 Ellingerrin Road, Inverleigh, Vic,
3321 be appointed as Liquidator for the winding up.

Dated this 31st day of October 2005

Murray W. Stoney
Liquidator
97 Ellingerrin Road, Inverleigh Vic 3321


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

BANK OF CHINA: Targets IPO in First Quarter
-------------------------------------------
Bank of China plans to sell shares publicly in the first quarter
of 2006, China Daily reports, citing Bank of China Vice
President Li Zaohang.

Mr. Zaohang said the bank hasn't decided where to sell shares
yet.

Singapore's Temasek Holdings Pte still hasn't got approval from
Bank of China's state-owned controlling shareholder to buy a
$3.1 billion stake in the lender, Li said.

The Chinese government is seeking overseas capital and expertise
to help strengthen domestic banks before the industry is opened
to increased foreign competition at the end of next year.

CONTACT:

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


BESTWAY INTERNATIONAL: Results Swing to HK$14.5 Mln Profit
----------------------------------------------------------
Bestway International Holdings Limited (00718) announced its
financial results for the year ended September 30, 2005.

Year-end date: 31/03/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee

                                                  (Unaudited )
                                     (Unaudited )       Last
                                     Current     Corresponding
                                     Period             Period
                               from 01/04/2005  from 01/04/2004
                              to 30/09/2005      to 30/09/2004
                          Note  ('000      )       ('000      )
Turnover                           : 161,553            172,615
Profit/(Loss) from Operations      : 5,317              (5,343)
Finance cost                       : (1,890)            (4,597)
Share of Profit/(Loss) of
  Associates                       : 0                  0
Share of Profit/(Loss) of
  Jointly Controlled Entities      : 0                  0
Profit/(Loss) after Tax & MI       : 14,527             (9,895)
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : 0.00293
(0.00344)
         -Diluted (in dollars)     : N/A                N/A
Extraordinary (ETD) Gain/(Loss)    : 0                  0
Profit/(Loss) after ETD Items      : 14,527             (9,895)
Interim Dividend                   : NIL                NIL
  per Share
(Specify if with other             : N/A                N/A
  options)

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

B/C Dates for Other
  Distribution                     : N/A

The calculation of basic earnings/(loss) per share is based on
the
unaudited net profit attributable to shareholders for the period
of HK$14,527,000 (2004: loss of HK$9,895,000) and the weighted
average of 4,952,682,798 (2004:  2,878,740,983) ordinary shares
in issue during the period.

Diluted earnings per share amount for the six months ended 30
September 2005 has not been calculated because all the
convertible bonds had been converted during the period.

CONTACT:

Bestway International Holdings Limited
18/F, Tesbury Centre
28 Queen's Road East
Wanchai, Hong Kong
Phone: 28151199
Fax: 28541076


GREAT FORTUNE: Set to Wind Up Operations
----------------------------------------
Great Fortune Investment Limited, whose office address is
located at G/F 26 Kam Chi Path Ngau Chi Wan Kowloon, issued a
winding up order notice in the High Court of the Hong Kong
Special Administrative Region Court of First Instance on
November 2, 2005.

Date of Presentation of Petition: September 2, 2005

Dated this 11th day of November 2005

ET O'Connell
Official Receiver


JILIN CHEMICAL: Releases Notice of H Share Class Meeting
--------------------------------------------------------
Notice is herby given that a special class meeting of the Jilin
H Shareholders (the H Share Class Meeting) of Jilin Chemical
Industrial Company Limited will be held at 10 a.m. (Beijing/Hong
Kong time) on December 31, 2005 at the Grand Ballroom, Lower
Lobby, Conrad Hong Kong, Pacific Place, 88 Queensway, Hong Kong,
for the purpose of considering and, if thought fit, passing the
following resolution which shall be approved by at least 75% of
the votes attaching to the Jilin H Shares held by the Jilin H
Shareholders (including Jilin H Shares underlying the Jilin
ADSs) that are cast either in person or by proxy at the H Share
Class Meeting; and with the number of votes cast against the
same resolution at the H Share Class Meeting amounting to not
more than 10% of all Jilin H Shares held by the Jilin H
Shareholders (including Jilin H Shares underlying the Jilin
ADSs).

The Jilin H Shareholders for the present purpose do not include
PetroChina Company Limited and parties acting in concert with
it, Platinum Securities Company Limited and parties acting in
concert with it and Cazenove Asia Limited and parties acting in
concert with it.

SPECIAL RESOLUTION:

"THAT:

(a) the voluntary withdrawal of the listings of the Jilin H
Shares and the Jilin ADSs from the Hong Kong Stock Exchange and
the NYSE, respectively, be and is hereby approved; and

(b) any director of the Company be and is hereby authorised to
take such other action and execute such documents or deeds as he
may consider necessary or desirable for the purpose of
implementing the voluntary withdrawal."

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

Notes:

(A) The Jilin H Shareholders whose names appear on the register
of the Company at 4:00 p.m. on Friday, 30 December 2005 are
entitled to attend the H Share Class Meeting with their passport
or other identity papers. Please note that pursuant to Article
44 of Chapter VII - Rights and Obligations of A Shareholder of
the "Essential Clauses in Articles of Association of Companies
Listed Overseas", the shareholders of a company shall be the
parties who legally hold the company's shares and whose names
(or titles) have been registered on the share ledger.

(B) The register of members of the Company will close from
Friday, 2 December 2005 to Saturday, 31 December 2005 (both days
inclusive), during which time no share transfer will be ffected.

(C) Each Jilin H Shareholder who has right to attend and vote at
the H Share Class Meeting is entitled to appoint one or more
proxies, whether they are members or not, to attend to and vote,
on his behalf, at the H Share Class Meeting.

(D) A proxy of a Jilin H Shareholder may only vote on a poll.

(E) The instrument appointing a proxy must be in writing under
the hand of the appointor or his attorney duly authorized in
writing. If that instrument is signed by an attorney of the
appointor, the power of attorney must be certified by a notary.

The notarially certified power of attorney, or other documents
of authorization, and the form of proxy must be delivered to the
Registrar, Hong Kong Registrars Limited, 46th Floor, Hopewell
Centre, 183 Queen's Road East, Wanchai, Hong Kong no later than
10:00 a.m. on Friday, 30 December 2005 or not less than 24 hours
before the time appointed for the holding of any adjournment of
the H Share Class Meeting.

(F) The Jilin H Shareholders intending to attend the H Share
Class Meeting should return the accompanying reply slip to the
Secretary's Office of the Company no later than Monday, 12
December 2005 by hand, post or fax.

(G) The H Share Class Meeting is expected to last half a day.
The Jilin H Shareholders attending the H Share Class Meeting
will be responsible for their own transportation and
accommodation expenses.

(H) The Bank of New York, the depositary for Jilin's ADSs, will
mail to all holders of record of Jilin ADSs as of the close of
business on 23 November 2005 voting instruction cards and other
information regarding the giving of voting instructions by Jilin
ADS Holders for the H Share Class Meeting. The latest time for
the return of the voting instruction card by Jilin ADS Holders
to the U.S. depositary for the ADSs will be 5:00 p.m. (New York
City time) on Monday, 19 December 2005.

(I) The details of the Secretary's Office of the Company are as
follows:
No. 9 Longtan Street Longtan District
Jilin City
Jilin Province
PRC
Postal code: 132021
Phone: (86 432) 3903 651
Fax: (86 432) 3028 126

As of the date hereof, the Board is comprised of: Executive
Directors: Yu Li, Zhang Xingfu, Li Chongjie Non-executive
Directors: Yang Dongyan, Ni Muhua, Jiang Jixiang, Xiang Ze
Independent Non-executive Directors: L� Yanfeng, Zhou Henglong,
Wang Peirong, Fanny Li.

CONTACT:

Jilin Chemical Industrial Company Limited
21/F, Entertainment Building
30 Queen's Road, Central
Hong Kong
Phone: 86-432-3903651
Fax: 86-432-3028126
Web site: http://www.jcic.com.cn


J.P. MORGAN SECRETARIES: Creditors Asked to Prove Debt
------------------------------------------------------
Notice is hereby given that the creditors of J.P. Morgan
Secretaries (Hong Kong) Limited (In Members Voluntary
Liquidation), which is being voluntarily wound up, are required
(if they have not already done so), on or before December 21,
2005, to send in their names, addresses and particulars of their
debts or claims, and the name and address of their solicitors,
if any, to the undersigned, the Joint and Several Liquidators of
the said company.

If so required by notice in writing from the said Liquidators,
are personally or by their solicitors 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 before such debts
are proved.

Dated this 31st day of October, 2005

LO WAI TSUN
Joint and Several Liquidator
27/F., Chater House
8 Connaught Road Central
Central, Hong Kong


LIK FUNG: Court Issues Winding Up Order
---------------------------------------
Lik Fung Textile Group Limited, whose office address is located
at Block 1-4 10/F Fuk Hong Industrial Building 60-62B Tong Mei
Road Kowloon, issued a winding up order notice in the High Court
of the Hong Kong Special Administrative Region Court of First
Instance on November 2, 2005.

Date of Presentation of Petition: September 2, 2005

Dated this 11th day of November 2005

ET O'Connell
Official Receiver


METEX STAINLESS: To Undergo Winding Up Process
----------------------------------------------
Metex Stainless Steel Metal Company Limited, whose office
address is located at G/F 260A Reclamation St Mongkok Kowloon,
issued a winding up order notice in the High Court of the Hong
Kong Special Administrative Region Court of First Instance on
November 2, 2005.

Date of Presentation of Petition: August 31, 2005

Dated this 11th day of November 2005

ET O'Connell
Official Receiver


MEYTIC LIMITED: Enters Winding Up Process
-----------------------------------------
Meytic Limited, whose office address is located at St George's
Bldg Suite 1908 19th Floor No 2 Ice House St Central Hong Kong,
issued a winding up order notice in the High Court of the Hong
Kong Special Administrative Region Court of First Instance on
November 2, 2005.

Date of Presentation of Petition: August 31, 2005

Dated this 11th day of November 2005

ET O'Connell
Official Receiver


NEW WORLD: Notes Unusual Price, Volume Movements
------------------------------------------------
The Stock Exchange has received a message from New World
CyberBase Limited, which is reproduced as follows:

"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

The company has noted the recent decrease in the price and
increases in trading volume of the shares of the Company and
wishes to state that we are not aware of any reasons for such
movements.

Save for the (1) possible major transaction: possible disposal
of certain interests in the issued share capital of New World
Mobile Holdings Limited (Stock Code: 862) (2) very substantial
acquisitions: proposed acquisitions of two aircrafts (3)
proposed rights issue of not less than 989,744,174 rights shares
and not more than 1,033,026,974 rights shares at HK$0.15 each on
the basis of two rights shares for every existing share held on
the record date (4) proposed placing of convertible notes (5)
application for the whitewash waiver and (6) appointment of
independent financial adviser as disclosed in the announcement
of the Company dated 14 November 2005, the company confirms that
there are no other negotiations or agreements relating to
intended acquisitions or realizations which are discloseable
under rule 13.23, neither is the Board aware of any matter
discloseable under the general obligation imposed by rule 13.09,
which is or may be of a price-sensitive nature.

Made by the order of New World CyberBase Limited, the Board of
the directors of which individually and jointly accept
responsibility for the accuracy of this announcement.

As at the date hereof, the Board comprises six directors, of
which Mr. Lo Lin Shing, Simon and Ms. Yvette Ong are executive
directors, Mr. To Hin Tsun, Gerald is a non-executive director
and Mr. Peter Pun, Mr. Wei Chi Kuan, Kenny and Mr. Lau Wai Piu
are independent non-executive directors.

For and on behalf of
NEW WORLD CYBERBASE LIMITED
Tang Chi Kei
Company Secretary
Hong Kong, 15 November 2005"

CONTACT:

New World Cyberbase Limited
21/F, Asia Orient Tower
Town Place, 33 Lockhart Road
Wanchai, Hong Kong
Phone: 21388000
Fax: 21388111
Web site: http://www.nwcyberbase.com


POCH LIMITED: Court Issues Winding Up Order
-------------------------------------------
Poch Limited, whose office address is located at Unit J 9/F 93-
103 Thomson Road Wanchai Hong Kong, issued a winding up order
notice in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on November 2, 2005.

Date of Presentation of Petition: September 2, 2005

Dated this 11th day of November 2005

ET O'Connell
Official Receiver


PROFIT ERA: Issues Debt Claim Notice
------------------------------------
Notice is hereby given that the creditors of Profit Era Limited
(In Creditors' Voluntary Liquidation), which is being
voluntarily wound up, are required (if they have not already
done so), on or before December 2, 2005, to send in their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors, if any, to the Joint and
Several Liquidators of the said company at Messrs. Kennic L. H.
Lui & Co., 5th Floor, Ho Lee Commercial Building, 38-44
D'Aguilar Street, Central, Hong Kong.

If so required by notice in writing from the said Liquidators,
are personally or by their solicitors 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 before such debts are proved.

Dated this 11th day of November, 2005

KENNIC LAI HANG LUI
LAU WU KWAI KING LAUREN
Joint and Several Liquidators


TIN SHING: Creditors to Prove Debts by December 12
--------------------------------------------------
Notice is hereby given that the creditors of Tin Shing Services
Limited (In Members' Voluntary Liquidation), which is being
voluntarily wound up, are required (if they have not already
done so), on or before 12 December 2005, to send in their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors, if any, to the undersigned and
Mr. John James Toohey, the Joint and Several Liquidators of the
said company.

If so required by notice in writing from the said Liquidators,
are personally or by their solicitors 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 before such debts are proved.

Dated this 11th day of November, 2005

RAINIER HOK CHUNG LAM
Joint and Several Liquidator
22/F., Prince's Building
Central, Hong Kong


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

FOOD CORPORATION: Government OKs Bond Issuance
----------------------------------------------
The government has approved The Food Corporation of India's
(FCI) INR5,000 crore-bond issue, Business Standard reports.

The state food company was finally granted permission to raise
money from the financial market by issuing bonds, as part of
efforts to restructure its debt and reduce the interest burden.

The FCI will study the market conditions and coupon rates to
decide whether to raise the entire sum at one go or split it
into shorter issues. The entire process is proposed to be
completed by March 31, 2006.

The firm is also considering undertaking interest rate swaps
through negotiations with commercial banks.

These measures are part of the FCI's efforts to bring down the
overall food subsidy by reducing the interest paid on the
borrowed funds. The new bonds issue would help save about INR100
crore on the interest cost.

With this, the FCI would achieve the target of raising INR10,000
crore from the market in the current financial year at rates
lower than those paid to the consortium of banks from whom it
had been borrowing funds, traditionally.

The FCI had a total sanctioned fund borrowing entitlement for
this year of INR38,100 crore, including the INR33,100 crore CCL
(cash credit limit) and INR5,000 crore through bonds route. It
has so far actually drawn between INR28,000 crore and INR29,000
crore out of the CCL and INR5,000 crore from the bonds.

The next bonds issue of INR5,000 would replace the funds already
borrowed under the CCL. Thus, the total borrowing would still
remain almost the same.

All bond issues floated by the FCI so far have been over-
subscribed several times within short periods though the
corporation has retained only the targeted amount.

CONTACT:

Food Corporation of India

North Zone
A-2a,2b Sector -24
Noida - 201301

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

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

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


HINDUSTAN PETROLEUM: Inks Supply Deal with FMM
----------------------------------------------
Hindustan Petroleum Corporation Ltd. has informed the Exchange
that the Company is signing an agreement with Fuel and Marine
Marketing LLC (FMM) for supplying bunkers - fuel oil to their
customers in Indian Ports on November 11, 2005.

CONTACT:

Hindustan Petroleum
17, Jamshedji Tata Road, PO Box No 11041
Mumbai 400020
Maharashtra
Phone: 22026151
Fax: 22872992


HINDUSTAN PETROLEUM: Advises of Changes in Auditing Team
--------------------------------------------------------
Hindustan Petroleum Corporation Ltd. has informed the Exchange
regarding the changes in the appointment of Statutory Auditors
of the Corporation.

The Comptroller & Audit General of India, New Delhi, in terms of
Section 619(2) of the Companies Act 1956 has advised the
appointment of M/s. Sudit K Parekh & Co. in place of M/s. G.P.
Kapadia & Co. as Joint Statutory Auditors for the financial Year
2005-06.

The Company further state that M/s. N.M. Raiji & Co., Joint
Statutory Auditor and M/s. B.V. Rao & Co., the branch Auditor
continue to be the auditors of the Corporation, for the
financial year 2005-06.


ISPAT INDUSTRIES: Undertakes Capital Restructure
------------------------------------------------
Ispat Industries Ltd. has informed the Exchange that the Scheme
of Reconstruction and Amalgamation has become effective from
October 26, 2005.

The said Scheme, interalia, contemplates the following:

(A) Reconstruction of Capital of Ispat Industries Ltd. (IIL)
Reconstruction of Capital of Ispat Industries Ltd. comprises the
following:

(a) Reduction of existing 692590311 Equity Shares of INR 10/-
each by 40% i.e. by 277036125 Equity shares of INR 10 /- each.

(b) Issue of 277036125 - 0.01% Cumulative Redeemable Preference
Shares (0.01% CRPS) of INR 10/- each at par in lieu of the
aforesaid reduction in equity shares.

(c) Issue of 220200000 Equity Shares of INR 10/- each at par to
the Promoter of the Company.
(d) Issue of 86800000 - 0.01% Cumulative Redeemable Preference
Shares (0.01% CRPS) of INR 10/- each at par to the Promoters of
the Company.

(e) Issue of 241779890 Equity Shares of INR 10/- each at par to
the Lenders of the Company, being conversion of loan amounting
to INR 2417798900/- advanced by them to the Company.


(B) Merger of Ispat Metallics India Ltd. (IMIL), an unlisted
company, with Ispat Industries Ltd.: Consequent upon merger of
IMIL with IIL, the following shares would be issued to the
shareholders of MIL :

(a) 344908141 Equity Shares of INR 10/- each at par to the
Equity Shareholders of IMIL,

(b) 122072720 - 0.01% Cumulative Redeemable Preference Shares
(0.01% CRPS) of INR 10/- each at par to the 0.01% CRPS
Shareholders of IMIL. (c) 13600000 - 12% Cumulative Redeemable
Preference Shares (12% CRPs) of INR 100/- each at par to the 12%
CRPS holders of IMIL.

The Company now proposes to issue and allot shares in terms of
the Scheme after fixing a record date for the purpose.
Accordingly, the Company has fixed December 15, 2005 as record
date for the purpose of allotment of shares in terms of the
aforesaid scheme.

CONTACT:

Ispat Industries Limited
Park Plaza,1st Floor
71, Park Street,
Kolkata - 700016
Telephone: 33-249 2117/3119/5102
Fax: 2494216/2493050/2291956
E-mail: ispatcal@vsnl.com
Web site: http://www.ispatind.com


ISPAT INDUSTRIES: Sets Record Date for Shares Allotment
-------------------------------------------------------
Ispat Industries Ltd. has informed the Exchange that the Company
has fixed December 15, 2005 as record date for the purpose of
allotment of shares in terms of Scheme of Reconstruction and
Amalgamation.


* RBI Unveils Debt Restructuring Mechanism for SMEs
---------------------------------------------------
Please refer to Para 3 (ii) the Reserve Bank of India's (RBI)
circular DBOD. No. BP. BC. No. 34 /21.04.132 /2005-06 September
8, 2005 on the captioned subject in terms of which accounts
involving willful default, fraud and malfeasance are not be
eligible for restructuring under these guidelines.

The issue has been reviewed in the light of the modifications
introduced for the identification of the willful defaulters in
which an opportunity is provided to the borrower to make
representation before final classification is made. The
procedure for identification of the willful defaulters has been
made more transparent.

While corporations indulging in fraud and malfeasance will
continue to remain ineligible for restructuring under the Debt
Restructuring Mechanism for SMEs as hitherto, banks may review
the reasons for classification of the borrower as willful
defaulter specially in old cases where the manner of
classification of a borrower as a willful defaulter was not
transparent and satisfy itself that the borrower is in a
position to rectify the willful default provided he is granted
an opportunity under the Debt Restructuring Mechanism for SMEs.
Such exceptional cases may be admitted for restructuring with
the approval of the Board of Directors of the banks only.

The banks may ensure that cases involving frauds or diversion of
funds with malafide intent are not covered.

Accounts involving fraud and malfeasance will continue to remain
ineligible for restructuring under these guidelines.

(Anand Sinha)
Chief General Manager-in-Charge

CONTACT:

Reserve Bank of India
Central Office, Post Box 406
Mumbai 400001
Phone: 2266 0502
Fax: 2266 0358, 2270 3279
E-mail: helpprd@rbi.org.in
Web site: http://www.rbi.org.in


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

GARUDA INDONESIA: To Launch New Route Next Year
-----------------------------------------------
State airline Garuda Indonesia is set to launch a new route from
Balikpapan province to Singapore in March 2006, reports Asia
Pulse.

According to the Company's general operations manager for East
Kalimantan Ahmad Syarifudin, the Company has submitted a
relevant proposal on the new route to its head office, and
Garuda Indonesia is ready to service such route.

The servicing of the new route came after an increase in demand
for direct flights from Balikpapan to Singapore, and Singaporean
carrier SilkAir only provided once-a-week direct flights from
Balikpapan. The Company has come up with a code-sharing scheme
with SilkAir to provide services for the new route.

Mr. Syarifudin said that the new direct flight is faster than if
passengers were to stopover at Jakarta before proceeding on to
Singapore. He also believes that fares for the route would be
competitive.

CONTACT:

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


PERTAMINA: Prohibits Fuel Supply to Batavia Air
-----------------------------------------------
After a complaint by Batava Air that its fuel was mixed with
water, state oil and gas firm PT Pertamina instructed its
airport fuel stations to stop suppling avtur (aviation fuel) to
Batavia Air planes, the Jakarta Post reports.

According to Pertamina spokesman Mochamad Harun, Company workers
found water in the tanks of Batavia aircraft last Nov. 11 and
Nov. 12, 2005. Batavia Air had complained last Oct. 20, 2005
that the fuel supplied by Pertamina was mixed with water; the
Company denies such allegations, and Mr. Harun said that
condensation is possible after a flight, as air temperature may
drop to minus 15 degrees Celsius.

Mr. Harun said that the Company policy requires airline
officials to drain the tanks in the presence of a Pertamina
employee, in order to ensure that water is not mixed in with
other fluids inside the tanks.

Batavia Air & Pertamina representatives, along with officials
from the National Transportation Safety Board are currently
investigating the matter, and have yet to file a report,
although the South Sulaesi Police have named four Pertamina
employees as suspects in the case.

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


PERTAMINA: Says Will Abide by Government's Decision on Cepu Deal
----------------------------------------------------------------
State-owned oil and gas firm PT Pertamina said that it will
abide by the government's decision on the operation of an oil
block in the Cepu field, but it is still negotiating with its
partner ExxonMpbil Corp., reports Reuters News.

The government had threatened to take over the Cepu block
operations if the Company and its U.S.-based partner could not
resolve the issue of which firm would operate the development of
the block.  Pertamina had offered that the operation of the
block be rotated every five years among both firms, but the
proposal was rejected by ExxonMobil.

ExxonMobil Corp. had previously discovered oil-rich reserves in
Cepu while under contract by Pertamina, and both firms recently
agreed as to the joint ownership (together with the government)
of the block. Development of the oil block would increase
Indonesia's oil output by almost 20%.

ExxonMobil officials could not be reached to comment on the
matter, but Pertamina spokesman Abadi Poernomo said that while
it is still negotiating with ExxonMibl on who would operate the
block, it would have to follow whatever the government wants, as
it is a government-owned firm.

The resolution of the Cepu development issue is crucial, as
Indonesia is trying to attract foreign investors to invest in
the country.


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

ARIX COMPANY: METI Orders Three-month Suspension
--------------------------------------------
The Ministry of Trade and Industry (METI) has ordered to suspend
chain-sales business of Arix Company Ltd. for three months
starting from November 17, 2005, due to violations of the
Specific Commercial Transactions Law.

An administrative penalty of ceasing illegal activities was also
imposed on five solicitors of the company.

CONTACT:

Ministry of Trade and Industry (METI)
3-1 Kasumigaseki 1-Chome
Chiyoda-ku Tokyo
Phone: 81-3-3501-1511
Web site: http://www.meti.go.jp/english/index.html


JAPAN AIRLINES: Carries Lower Import Volumes This Year
------------------------------------------------------
The annual flood of Beaujolais Nouveau is set to flow in Japan
on the official release day of November 17, when the new red
wine of the year will find its way into the glasses of eager
Japanese imbibers.

Japan standard time is eight hours ahead of France, so Tokyo
wine-lovers can enjoy the new young wine directly after midnight
on the 16th, long before Parisian drinkers pop their corks.

Cargo industry observers in Japan estimate that the total air
shipment of the new wine to Japan this year is at least 10,000
tons or close to 10 million bottles.

Japan Airlines has shipped in from Europe about 1,100 tons-
amounting to 90,000 cases or well over one million bottles - on
45 flights. The shipments were carried in 12 scheduled JAL Cargo
747 freighter flights, four extra 747-freighter flights and as
belly cargo in 29 JAL passenger flights.

This year's imports are down in volume on last year, when the
total quantity was a record 13,000 tons. However JAL has
maintained its market share of the traffic.

JAL and other airlines are permitted to ship the wine from
France in advance of the official release day for the public
distribution of the wine, which the French Government has
established as the third Thursday in November. The new
Beaujolais is held in bond until midnight on the eve of release.

JALUX, the JAL Group trading company, will be holding its annual
Beaujolais Nouveau party for clients and friends at the JAL
Building, the JAL Group headquarters in Tokyo, on November 17.
More than 500 guests are expected.

CONTACT:

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


MITSUBISHI FUSO: Releases 'Environmental and Social Report 2005'
----------------------------------------------------------------
Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has issued
"Environmental and Social Report 2005".

The publication provides information on the company's
environmental and social activities in Japan during the fiscal
year 2004. This is the second issue published by Fuso.

The new issue includes "Social Report" with enhanced content on
social activities. In addition, the report includes new sections
to introduce the company's efforts to comply with Automobile
Recycling Law and to promote Eco Action 21.

The name was revised from "Environmental Report" to
"Environmental and Social Report". Based on our corporate
philosophy to give the highest priority to social
responsibility, we introduce not only environmental issues but
also the following topics on social activities.

Efforts to improve business ethics such as the establishments of
"Compliance Charter" and "Fuso Business Ethics Committee."

Acquisition of ISO9001 certification as a part of quality
improvement activities.
Promotion of "user-friendly products" such as "Rosa Chair-Deck
Version" with a lift for wheelchairs, etc.

Support activities for areas stricken by earthquakes and
tsunami, such as truck donations.

Progress report on "Environmental Sustainability Plan"
Fuso has been conducting environmental activities based on
Environmental Sustainability Plan, which is the mid-term
environmental plan published in June 2002, and the progress of
such activities is as follows.

The company has exhibited the "Canter HEV" light duty truck (*1)
at the Tokyo Motor Show 2004. (*1) Canter HEV will be launched
in spring 2006 with a clean diesel engine, parallel hybrid
system, and an electronically controlled mechanical automatic
transmission - the INOMAT-II - offering improved environmental
performance and easy driving. As an integral part of
DaimlerChrysler, Mitsubishi Fuso will be the competence center
of HEV technology for light-duty vehicles.

The company has achieved the target reduction rate of 20% for
CO2 emission, which was 119,000 tons, reduction of 37.7%
compared to FY1990.

With the enforcement of Automobile Recycling Law in January
2005, we have been recycling chlorofluorocarbons, air-bags, and
ASR (automobile shredder residue) in compliance with the law.
82% of our business partners have obtained either ISO14001 or
Eco Action 21 certification (*2). We will continue to support
them in achieving our target rate of "100%".

(*2) Environmental activity evaluation program created by the
Ministry of the Environment in 1996 for medium and small size
companies.

For the environmental accounting, we have booked 2.8% of
proceeds as "environmental protection costs." Especially, 300
million yen was booked as establishment/operational expenses for
the new system to comply with the Automobile Recycling Law.
In addition, the environmental protection effects and the
economic benefits accompanying environmental protection measures
were calculated to evaluate the effectiveness of environmental
protection activities in numerical data.

For topics, sections on "preparation for the Automobile
Recycling Law" and "Efforts for Eco Action 21" were included to
introduce various activities by employees. Furthermore, we have
included "Environmental protection activities of overseas
related companies (Mitsubishi Fuso Truck Europe-Sociedade
Europeia de Automoveis, S.A., Mitsubishi Fuso Truck Thailand
Co.,Ltd.)" as the first step to give examples on a global level.

Mitsubishi Fuso is a member of "Team Minus 6%", the national
project for preventing global warming. We are educating our
employees about prevention of global warming through intranet
and in-house magazines in our efforts to reduce CO2 emission.

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


SANYO ELECTRIC: Shares Jump on Stake Sale News
----------------------------------------------
Shares of Sanyo Electric Co. surged 6.1 percent on Wednesday
after the Keizai newspaper reported that it may sell part of its
stake in Sanyo Electric Credit Co. to trading company Mitsui &
Co., Bloomberg News reports.

Mitsui said nothing has been decided on a stake purchase, while
Sanyo Credit said it's considering a capital increase, according
to separate statements filed to the Tokyo exchange.

According to the report, selling off its finance business will
help Osaka-based Sanyo meet its pledge in July to cut its debt
50 percent to JPY600 billion (US$5 billion) over the next three
years.

Sanyo shares rose as much as 8.7 percent yesterday after reports
the company will sell about JPY200 billion of new shares to
Sumitomo Mitsui Financial Group Inc. and other investors.

CONTACT:

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


SONY CORPORATION: U.S. Unit Expects Profit Next Year
----------------------------------------------------
Sony Corporation unveiled plans on Tuesday for a multimillion
dollar marketing campaign ahead of what they predicted would be
a bumper holiday season for its U.S. consumer electronics,
according to Reuters.

The electronics maker is in need of a strong season as it moves
ahead with a restructuring that will cut 10,000 jobs and see
more than $1 billion of assets sold.

Stan Glasgow, the President of Sony Electronics' U.S. consumer
sales, said that the holiday season is now longer than in years
past, which should help the U.S. consumer electronics unit
through in the early months of 2006.

"We see it being strong and profitable early next year," Glasgow
said of the U.S. unit.

He declined to say how much would be spent on the marketing
efforts, other than to say it would be a "multimillion dollar"
campaign.

CONTACT:

Sony Corporation
7-35, Kitashinagawa
6-chome, Shinagawa-ku
Tokyo 141-0001, Japan
Phone: +81-3-5448-2111
Fax: +81-3-5448-2244


SONY CORPORATION: Launches New HD Product Line-Ups
--------------------------------------------------
Sony Corporation announced the launching of new product line-ups
for the growing market of HD content creation at Inter BEE 2005
in Chiba, Japan. The new products include the "XDCAM" HD series
and the "IXS-6000" series.

The "XDCAM" HD series, which represents the HD-ready solutions
within the "XDCAM" product category, is a large capacity and
"professional disc"-based video system, enabling speedy HD
content creation. The "IXS-6000 series," the next-generation
"Integrated Rooting Switcher System," will offer an advanced
environment for content creation.

Sony will also showcase the newly developed "HD super slow
motion camera system" at this year's Inter BEE exhibition. This
camera system can capture full-resolution HD images three times
faster than previously possible.

With the development of wider product line-ups and technologies,
Sony is presenting various solutions and supports content
creation workflow for the expanding the digital terrestrial
broadcasting market.

[New Products]
- "XDCAM" HD series

HD-ready products of "XDCAM" series, 1 camcorder and 2
stationary decks
On sale: From April 2006 in Japan

- "IXS-6000" series

The next-generation type "Integrated rooting switcher system," 2
models
On sale: From January 2006 in Japan

[Exhibition (prototype)]
- "HD super slow motion camera system"

High speed - 90 frames - video shooting in HD format
On exhibit only at "Inter BEE 2005"

Furthermore, the multi-format camera system "HDC-1000" series,
launched in September this year, received wide acclaim among
broadcasters as well as the content creation industry.
As a result, shortly after market introduction, some 22
broadcast stations in Japan have already adopted many of the
products introduced as part of the "HDC-1000" lineup.

This is a company press release.


TOSHIBA CORPORATION: Dissolves MediaServe Corporation
-----------------------------------------------------
Toshiba Corporation decided to dissolve MediaServe Corporation,
a Toshiba subsidiary company.

1. Reason for the dissolution

MediaServe Corporation, which engaged in the business of
interactive servers for BS digital broadcasting, decided to
terminate its operations. Toshiba accepted this decision and
will act to dissolve the company.

2. Outline of MediaServe Corporation

Location:                 Chuo-ku, Tokyo, Japan

Representative:           Toshihiko Kato, Representative
Director

Business:                 Interactive server business

Capital:                  3,470 million yen (as of the end of
September 2005)

Shareholders:             Toshiba 94.2%; two other companies


3. Provisional schedule for dissolution

MediaServe's resolution for dissolution: December 2005
Completion of dissolution by end of first half of FY2006

4. Future prospects

The financial impact from MediaServe's dissolution is
insignificant.

CONTACT:

Naoto Hasegawa, General Manager,
Corporate Communications Office
1-1-1 Shibaura, Minato-ku, Tokyo, Japan
Phone: 81 3 3457 2096


* October Bankruptcies Up 4.1%
------------------------------
The number of corporate bankruptcies in Japan rose 4.1 percent
in October from a year earlier to 1,171, eclipsing the year-
before level for the first time in two months, credit research
agency Tokyo Shoko Research said Tuesday.

Debts left by the failed companies dropped 19.2 percent to
JPY635.01 billion, staying below JPY1 trillion for the 19th
straight month, the report said.

CONTACT:

Tokyo Shoko Research Ltd.
Shin-Ichi Building
1-9-6, Shimbashi
Minato-ku Tokyo
105-0004, Japan
Phone: (03) 3574-2258
Fax: (O3) 3574-2292


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

DOOSAN GROUP: Launches Probe Anew
---------------------------------
An investigation into 10 subsidiaries of Doosan Group was
launched by the National Tax Service (NTS) Tuesday, The Korea
Herald reveals.

The NTS conducted a probe into the 10 units to gather additional
proof of embezzlement and corporate misconduct. The
investigation will run for 70 days.

The probe into the units is separate from the investigation of
alleged embezzlement involving the conglomerate's founding
family members.

The NTS is focusing on the details of Doosan's alleged tax
evasion via paper companies and accounting misconduct.

The results of the investigation into the Park family members
have been released last week.  The prosecution indicted 14
former and incumbent executives of Doosan Group including four
members of its founding family without detainment on charges
including embezzlement.


SSANGYONG MOTOR: Union Favors Strike
------------------------------------
The labor union of Ssangyong Motor Co. have voted to go on
strike against Shanghai Automotive Industry Corp. (SAIC) for
alleged transfer of technology to China, reports The Korea
Times.

Around 90.7 percent of the 5,689 unionized workers cast their
ballots and 80 percent of them voted in favor of the strike.
However, the exact date for the strike was not disclosed yet.

The union said that if a couple of meetings with the management
becomes unsuccessful, they will initially stage a partial strike
and move a up to a general strike.

Union leaders are scheduled to meet with Jiang Zhiwei, vice
chairman of Shanghai Automotive Industry Corp. (SAIC), which
owns a 48.9 per cent stake in Ssangyong Motor, the fourth-
largest carmaker in South Korea.

"We decided to strike because SAIC has not made good on its
investment promise and is attempting to steal Ssangyong's
technology through the joint venture project," the official
said.

After the buyout last year, SAIC promised to invest US$1 billion
in the company till 2008.  This year, the company promised to
shell out KRW400 billion.

A project called the S-100 will allow Ssangyong Motor and
Shanghai Motor to set up a 50-50 joint venture in China to
produce recreational vehicles from the end of 2007.

As a respond to the union's threat of a strike, the S-100
project was intended to help the company emerge as a major
player in China and was part of the $1 billion investment plan.

The union suspects that with the entry of newly appointed CEO
Choi Hyung-tak an executive with an extensive background in
engineering and design, in place of Soh Jin-kwan last week, may
lead to massive job cuts.

But Ssangyong executives have assured that no employee would be
sacked nor are there any plans to sell the company.

CONTACT:

Ssangyong Motor Company Limited
150-3 ChilgoE-dong
Pyeongtaek-si, Kyonggi 459-711
Korea (South)
Telephone: +82 31 610 1114
Fax: +82 31 610 3739


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

AMSTEEL CORPORATION: Unveils Resolutions Passed at AGM
------------------------------------------------------
Amsteel Corp. Berhad informed Bursa Malaysia Securities Berhad
that at the Thirtieth Annual General Meeting of the Company held
on November 14, 2005, the shareholders have approved:

(1) The re-appointment of Y. Bhg. Jen (B) Tan Sri Dato' Zain
Mahmud Hashim who retired pursuant to Section 129(2) of the
Companies Act, 1965 as Director of the Company; and

(2) All other resolutions tabled thereat including the following
ordinary resolutions transacted as special business:

(a) Authority to Directors to issue shares

"THAT pursuant to Section 132D of the Companies Act, 1965 and
subject to the approval of all relevant authorities being
obtained, the Directors be and are hereby empowered to issue
shares in the Company at any time 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 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 of the Company."

(b) Proposed Renewal of Shareholders' Mandate for Recurrent
Related Party Transactions

"THAT approval be given for the Company and its subsidiary
companies to enter into the recurrent related party transactions
of a revenue or trading nature which are necessary for its day-
to-day operations as detailed in paragraph 3.3 (Recurrent
Transactions) and with those related parties as detailed in
paragraph 3.2 of the Circular to Shareholders of the Company
dated October 20, 2005 subject to the following:

(i) The transactions are in the ordinary course of business and
are on terms not more favourable to the related parties than
those generally available to the public and are not to the
detriment of the minority shareholders of the Company; and

(ii) Disclosure is made in the annual report of the breakdown of
the aggregate value of transactions conducted pursuant to the
shareholders' mandate during the financial year, amongst others,
based on the following information:

(a) The type of Recurrent Transactions made; and

(b) The names of the related parties involved in each type of
Recurrent Transactions made and their relationship with the
Company;
AND THAT authority conferred by this ordinary resolution shall
continue to be in force until:

(i) The conclusion of the next annual general meeting of the
Company at which time it will lapse, unless by a resolution
passed at the meeting, the authority is renewed;

(ii) The expiration of the period within which the next annual
general meeting after that date is required to be held pursuant
to Section 143(1) of the Companies Act, 1965 (but shall not
extend to such extension as may be allowed pursuant to Section
143(2) of the Companies Act, 1965); or

(iii) Revoked or varied by resolution passed by the shareholders
in general meeting;

whichever is the earlier,

AND THAT the Directors be authorized to complete and do all such
acts and things (including executing such documents as may be
required) to give effect to the transactions contemplated and/or
authorized by this ordinary resolution."

CONTACT:

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


FURQAN BUSINESS: Unit Inks Settlement Agreement with Danaharta
--------------------------------------------------------------
Furqan Business Organisation Berhad issued to Bursa Malaysia
Securities Berhad details of the settlement agreement between
Furqan Business Organisation Berhad and its subsidiary company,
Likas View Sdn. Bhd. and Pengurusan Danaharta Nasional Berhad.

(1) Introduction

The Board of Directors of Furqan Business Organisation Berhad
(FBO) advised the Bourse that the Company and its wholly owned
subsidiary company, Likas View Sdn. Bhd. (the Chargor) had on
November 11, 2005 entered into a Settlement Agreement with
Pengurusan Danaharta Nasional Berhad (Danaharta) of Tingkat 10,
Bangunan Setia 1, 15 Lorong Dungun, Bukit Damansara, 50490 Kuala
Lumpur for the settlement of the Guaranteed Secured Term Loan
(GSTL) sum of MYR22,240,000.00 and Non-Guaranteed Convertible
Secured Term Loan (NGCSTL) sum of MYR5,117,641.33 (Outstanding
Amount) under the Modified Workout Proposal (MWP) dated December
30, 2002 by way of disposing and transferring all those pieces
of the Chargor's land held under Parent Title Nos. TL 017533587
and TL 017533596, Kota Kinabalu, Sabah together with a 16 storey
commercial and residential building for the time being known as
"Likas Square" including the units or interests in respect of
the units more particularly set out in said Settlement
Agreement, the common properties and all car park lots in
respect of the said building, subject to the rights of the
purchasers who have as at the date of the said Settlement
Agreement acquired the relevant units in the said building or
interests in respect of the same, for a consideration equivalent
to the Agreed Value, MYR18,000,000.00 (Ringgit Malaysia Eighteen
Million) only (the Settlement).

(2) Information on the Workout Proposal

The Workout Proposal is a proposal formulated (and subsequent
modified) for the purpose of regulating the financial conditions
of Austral Amalgamated Berhad (AAB) which among others involved
the reconstruction of the share capital of AAB and the eventual
acquisition of the same by FBO which assumed the listing status
of AAB.

An announcement was made on October 27, 2000 in respect of the
above proposal by AAB and had been disclosed in the Information
Circular to Shareholders of AAB dated October 8, 2002.

AAB is a wholly owned subsidiary of the Company.

(3) Rationale for the said settlement

The said Settlement is part of the Group's on-going efforts to
reduce its borrowings and in accordance with the MWP in respect
of the disposal of non-core assets of the FBO Group.

(4) Salient terms of the agreement

The said Settlement shall be conditional upon the following:

(a) The settlement of the Outstanding Amount shall be deemed
effected upon the occurrence of the following events:

(i) The receipt by Danaharta of the full selling price for the
Property from the Purchaser of the Property from the Purchase
which selling price shall be at least equal to the Agreed Value;
and

(ii) The presentation for registration at the relevant land
authority of the Memorandum of Transfer.

(5) Financial Effect

The said Settlement/Disposal will have no material effect on the
share capital, net tangible assets of FBO Group for the year
ending December 31, 2005 as debts and the assets disposed were
not consolidated into FBO's Balance Sheet pursuant to the
scheme.

(6) Approval

No additional shareholders approval is required at the FBO
level.

(7) Interest of directors', substantial shareholders' and
connected person

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

(8) Directors' Recommendation

The Directors of the Company are of the opinion that the said
Settlement/Disposal is in the best interest of the Group as the
completion of this Settlement Agreement would enable the Group
to resolve approximately MYR27.4 million of its debts.

CONTACT:

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


GULA PERAK: Bond Maturity Date Set December 17
----------------------------------------------
Gula Perak Berhad furnished Bursa Malaysia Securities Berhad a
notice of maturity of five year three percent MYR90.124 million
Redeemable Secured Bonds 2000/2005 (Not listed).

Notice is hereby given that pursuant to the agreement of the
2000/2005 Bonds, the maturity date of the Bonds will fall on
Saturday December 17, 2005. The redemption of the Bonds will be
settled with the Bondholder.

CONTACT:

Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Telephone: 03-4044 2828
Fax: 03-4044 6688


LANKHORST BERHAD: Results Swing to Black in 2Q/FY05
---------------------------------------------------
Lankhorst Berhad issued to Bursa Malaysia Securities Berhad
details of its unaudited Second Quarter Report for the financial
period ended June 30, 2005.

Summary of Key Financial Information
June 30, 2005

        Individual Period              Cumulative Period
    Current Year  Preceding Year  Current Year   Preceding Year
    Quarter       Corresponding   to Date        Corresponding
                  Quarter                        Period
    30/06/2005    30/06/2004     30/06/2005      30/06/2004
    MYR'000       MYR'000    MYR'000        MYR'000

(1) Revenue

    7,811         16,169         33,428          25,275

(2) Profit/(loss) before tax

    638            -497            927           -562

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

    671            -505            994           -570

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

    671            -505            994           -570

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

    1.60           -1.20           2.40          -1.40

(6) Dividend per share (sen)

    0.00            0.00           0.00           0.00

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

(7) Net tangible assets per share (MYR)

        0.0400                      0.2300

To view a full copy of the financial statement, click
http://bankrupt.com/misc/LankhortsBerhadQ205.doc

CONTACT:

Lankhorst Berhad
5th Floor, Bangunan Umno Selangor
Persiaran Perbandaran , Section14
40000 Shah Alam
Selangor, Malaysia
Phone: 03-50313030
Fax: 03-50313036


MAGNUM CORPORATION: Issues New Shares for Listing, Quotation
------------------------------------------------------------
Magnum Corporation Berhad advised that its additional 42,000 new
ordinary shares of MYR0.50 each issued pursuant to the
Employees' Share Option Scheme will be granted listing and
quotation by Bursa Malaysia Securities Berhad with effect from
9:00 a.m., Wednesday, November 16, 2005.

CONTACT:

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


MALAYAN UNITED: Concludes Sale of Two Remaining Hotels
------------------------------------------------------
Malayan United Industries Berhad (MUIB) issued to Bursa Malaysia
Securities Berhad details of the disposal by four (4) wholly
owned subsidiaries of Corus Hotels Plc, a 99.9 percent-owned
subsidiary of MUIB, of eight (8) hotels to Swallow Hotels
Limited for a total cash consideration of GBP32.8 million
(equivalent to approximately MYR227.3 million) (disposal).

The company refers to its announcements to Bursa Malaysia
Securities Berhad dated June 22, 2005, July 27, 2005 and
September 16, 2005 in relation to the Disposal.

Subsequent to the completion of the disposal of six (6) out of
the eight (8) hotels on July 26, 2005, PM Securities Sdn Bhd, on
behalf of MUIB, advised that the sale of the remaining two (2)
hotels, namely the Plough & Harrow Hotel and The Telford Golf &
Country Club, has been completed as at November 11, 2005.

The sale proceeds received in respect of the remaining two (2)
hotels amounted to GBP9.4 million.

This announcement is dated 14 November 2005.

CONTACT:

Malayan United Industries Bhd
14th Floor, MUI Plaza, Jalan P. Ramlee,
Kuala Lumpur Wilayah Persekutuan 50250
Telephone: 03-21482566
Fax: 03-31689117,03-31670211


MAXIS COMMUNICATIONS: Bourse to List, Quote New Shares
------------------------------------------------------
Maxis Communications Berhad advised that its additional 97,000
new ordinary shares of MYR0.10 each issued pursuant to the
Employee Share Option Scheme will be granted listing and
quotation by Bursa Malaysia Securities Berhad with effect from
9:00 a.m., Wednesday, November 16, 2005.

CONTACT:

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


MBF HOLDINGS: Books MYR6,060,000 Net Profit in 3Q/FY05
------------------------------------------------------
MBf Holdings Berhad furnished Bursa Malaysia Securities Berhad a
copy of its Third Quarter Report for the financial period ended
September 30, 2005.

Summary of Key Financial Information
September 30, 2005

        Individual Period              Cumulative Period
    Current Year  Preceding Year  Current Year   Preceding Year
    Quarter       Corresponding   to Date        Corresponding
                  Quarter                        Period
    30/09/2005    30/09/2004      30/09/2005     30/09/2004
    MYR'000       MYR'000     MYR'000        MYR'000

(1) Revenue

    349,935      292,365          992,989        835,723

(2) Profit/(loss) before tax

    14,351        24,271          61,200         16,722

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

    6,060          19,710          34,898         -3,100

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

    6,060          19,710          34,898         -3,100


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

    1.06            3.60            6.12           -0.57

(6) Dividend per share (sen)

    0.00            0.00            0.00            0.00

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

(7) Net tangible assets per share (MYR)

    0.3136                    0.2782

To view a full copy of the financial statement, go to
http://bankrupt.com/misc/MBfHoldingsSept2005.xls

To view a full copy of the notes to FS, go to
http://bankrupt.com/misc/MBfHoldingsNOTES92005.doc

CONTACT:

MBf Holdings Berhad
No 8 Jalan Yap Kwan Seng
50450 Kuala Lumpur, Selangor Darul Ehsan 46150
Malaysia
Telephone: +60 2167 8000 / +60 2164 6985


MYCOM BERHAD: To Convene AGM Next Month
---------------------------------------
Mycom Berhad (Mycom) informed Bursa Malaysia Securities Berhad
that its Thirty-Eighth Annual General Meeting (AGM) will be held
at Level 3, avenue K, Jalan Ampang, 50450 Kuala Lumpur on
Thursday, December 8, 2005 at 11:30 a.m. to transact the
ordinary and special businesses of the Company.

To view a full copy of the Notice of the said AGM, go to
http://bankrupt.com/misc/MycomBerhadNotice38thAGM.doc

CONTACT:

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


PANTAI HOLDINGS: Converts ICULS to Ordinary Shares
--------------------------------------------------
Pantai Holdings Berhad advised that its additional 27,000 new
ordinary shares of MYR1.00 each arising from the conversion of
MYR27,000 Nominal Value of Irredeemable Convertible Unsecured
Loan Stocks 2002/2007 into 27,000 New Ordinary Shares will be
granted listing and quotation by Bursa Malaysia Securities
Berhad with effect from 9:00 a.m., Wednesday, November 16, 2005.

CONTACT:

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


POS MALAYSIA: New Shares up for Listing, Quotation
--------------------------------------------------
POS Malaysia & Services Holdings Berhad advised that its
additional 85,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employee Share Option Scheme will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Wednesday, November 16, 2005.

CONTACT:

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


SOUTHERN BANK: Issues New Shares for Listing, Quotation
-------------------------------------------------------
Southern Bank Berhad advised that its additional 250,626 new
ordinary shares of MYR1.00 each arising from the exercise of
250,626 (Local) warrants 1996/2006 (exercise) will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Wednesday, November 16, 2005.

CONTACT:

Southern Bank Berhad
83 Medan Setia 1 Plaza Damansara Bukit
Damansara, 50490 Kuala Lumpur, Kuala Lumpur 50490
Malaysia
Telephone: +60 3 2087 3000
Fax: +60 3 2093 3157


SURIA CAPITAL: Unit Inks MoU with SPSB
--------------------------------------
Suria Capital Holdings Berhad issued to Bursa Malaysia
Securities Berhad details of the signing of Memorandum of
Understanding (MOU) between Sabah Ports Sdn. Bhd. (SPSB) (a
wholly owned subsidiary of Suria Capital Holdings Berhad),
Penang Port Commission and Penang Port Sdn. Bhd. on friendly
exchanges and co-operation.

The company announced that on November 14, 2005, SPSB had signed
an MOU with Penang Port Commission and Penang Port Sdn. Bhd. for
the purpose of enhancing friendship and mutual understanding
between the parties.

(2) Under the MOU, the parties have agreed to initiate
cooperative ties in the fields such as port studies, staff
training, information exchange and exploring ways and means to
improve trade volume, shipping transportation and service
between the ports through the following:

Periodically exchanging information pertaining to the
feasibility study of port construction projects. Promoting
personnel exchanges and conducting training programs for the
purpose of improving the efficiency and effectiveness of ports
particularly in the following fields:

(a) Operation and management of Terminal
(b) Safety on mainstay channel
(c) Security of port equipment
(d) Port administration and management
(e) Port digitalization, and etc.

Carrying out discussions and exchanging information on
statistical data, cargo handling and ship movement between the
ports, ship-owners policies and information on shipping agents
using the ports and any other information, which is of benefit
to the ports.

Carrying out discussions and exchanging technical assistance in
matters relating to equipment which can improve the technical
input and usage of port equipment instruments (e.g. radio-
communication).

Carrying out port promotion campaigns between the two ports for
the purpose of enhancing the ports, which could result in
greater utilization of cargo handling capacity and deeper
exploration of business opportunities.

(3) The MOU shall remain in force for a period of three (3)
years, and may be renewed by mutual written agreement between
the three parties.

Datuk Haji Abu Bakar HJ. Abas
Group Managing Director

CONTACT:

Suria Capital Holdings Berhad
Karamunsing, Km 2.4 Jalan Tuaran
88300 Kota Kinabalu, Sabah 88300
Malaysia
Telephone: +60 8 8257 788
Fax: +60 8 8256 410


TANAH EMAS: Converts ICULS to Ordinary Shares
---------------------------------------------
Tanah Emas Corporation Berhad advised that its additional 10,000
new ordinary shares of MYR1.00 each issued pursuant to the
conversion of 15,000 Irredeemable Convertible Unsecured Loan
Stocks 2001/2006 into 10,000 new ordinary shares will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Wednesday, November 16, 2005.


TELEKOM MALAYSIA: Unit Begins Winding Up Proceedings
----------------------------------------------------
Telekom Malaysia Berhad issued to Bursa Malaysia Securities
Berhad details of the members' voluntary winding-up of Telekom
Infotech Sdn Bhd.

Introduction

Telekom Malaysia Berhad (TM) advised that its wholly owned
subsidiary, Telekom Infotech Sdn Bhd (Company No. 356751-V) (TM
Infotech), has commenced members' voluntary winding-up on
November 14, 2005 (the Winding-up) pursuant to Section 254(1)(b)
of the Companies Act, 1965. Pursuant thereto, Encik Mohd Afrizan
bin Husain and Encik Khairul Azahar bin Ariffin of Messrs
Afrizan Tarmili Khairul Azhar, 10th Floor Bangunan Yayasan
Selangor, 74 Jalan Raja Muda Abdul Aziz, 50300 Kuala Lumpur were
appointed as the Liquidators.
Information on TM Infotech

TM Infotech was incorporated in Malaysia on August 24, 1995. Its
authorized capital is MYR50.0 million comprising 50,000,000
ordinary shares of MYR1.00 each, out of which 500,000 ordinary
shares of MYR1.00 each was fully paid-up. TM Infotech was
incorporated as an investment holding company principally in the
areas of telecommunications, multimedia, interactive media,
information technology and/or multimedia based activities. TM
Infotech was inactive since May 1999.

Rationale for the Winding-up

The Winding-up exercise of TM Infotech is part of the
rationalization and streamlining exercise of TM Group.

Financial Effects of the Winding-up

The Winding-up of TM Infotech will not have any material effect
on TM Group.

Directors' and Substantial Shareholders' Interest

None of the Directors and Substantial Shareholders of TM or
persons connected with them has any interest, direct or
indirect, in the Winding-up of TM Infotech.

Directors' Opinion on the Winding-up

The Directors of TM are of the opinion that the Winding-up is in
the best interest of TM.

CONTACT:

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


TELEKOM MALAYSIA: Unit to Acquire MTT Network Share Capital
-----------------------------------------------------------
Telekom Malaysia Berhad furnished Bursa Malaysia Securities
Berhad details of the proposed acquisition of 100 percent equity
interest in MTT Network (Private) Limited (MTT Network) by
Dialog Telekom Limited (Dialog), a subsidiary of Telekom
Malaysia Berhad (TM).

(1) Introduction

Pursuant to Paragraph 9.19 (23), Part J of Chapter 9 of the
Listing Requirements of Bursa Malaysia Securities Berhad, TM
announced that its subsidiary listed on the Colombo Stock
Exchange, Dialog, has on November 14, 2005, entered into a Share
Sale Agreement to acquire 100 percent of the issued and paid-up
share capital of MTT Network from the following parties
(collectively known as the Vendors):

Name            No. of MTT Network shares held    %

Rajendram
Maharaja                   2                     0.01

Sunpower Systems
(Private) Limited  7,075,000                     8.58

Sipson Investments
Limited           75,293,201                    91.41

                  82,368,203                   100.00

(2) Details of the Proposed Acquisition

The Proposed Acquisition involves the acquisition by Dialog of
the entire equity interest in MTT Network from the Vendors for
United States Dollars (USD) 18.6 million (approximately MYR70.3
million). The proposed acquisition would be financed from
Dialog's internally generated funds and/or borrowings.

Dialog and the Vendors have agreed that the completion of the
acquisition is subject to, amongst others:

(i) Notification to the Board of Investments of Sri Lanka of the
proposed transfer of the shares in MTT Network to Dialog;

(ii) Restatement by key employees of MTT Network of their
current employment contracts; and

(iii) The termination of all contracts, loans, corporate
guarantees and other arrangements with related parties of the
Vendors and persons affiliated to the Vendors.

The Proposed Acquisition is expected to be completed by the end
of 2005. Upon completion, MTT Network will become a wholly owned
subsidiary of Dialog.

(3) Information on MTT Network

MTT Network was incorporated in Sri Lanka on August 27, 1993.
The authorized share capital of MTT Network is Sri Lankan Rupees
(LKR) 1,000 million, comprising 100 million ordinary shares of
LKR10 each, of which 82.368 million shares have been issued and
fully paid-up.

MTT Network is involved in the construction of transmission
towers to provide, operate and develop infrastructural
facilities to establish the following:

(i) Voice and data communications systems;

(ii) Radio and television broadcasting systems; and

(iii) Mobile radio communication systems.

MTT Network also provides, operates and develops facilities
required for telecommunications, sound, audio-visual
transmission, satellite transmission, reception of satellite
transmission and retransmission of satellite communicative
broadcasting and transmission of information and also has a
license to provide fixed voice telephony services using WLL
technology for a duration of 10 years commencing November 2005
(License).

(4) Rationale for the proposed acquisition

The proposed acquisition will provide Dialog with an avenue to
venture into Sri Lanka's lucrative data communications and
broadband services market going forward. MTT Network's Licence
also provides Dialog with the opportunity to make direct
investments into the fixed services sector, thereby expanding
its presence in Sri Lanka's telecommunications market, and
maximizing its forward growth opportunities based on a wide
spectrum of services to retail as well as wholesale consumers.

(5) Effects of the Proposed Acquisition

(5.1) Share capital and shareholdings of substantial
shareholders

The Proposed Acquisition will not have any effect on TM's issued
and paid-up share capital and shareholdings of substantial
shareholders.

(5.2) Net Tangible Asset (NTA)

The Proposed Acquisition will not have any material effect on
the NTA of the TM group.

(5.3) Earnings

The Proposed Acquisition is not expected to have any material
effect on the earnings of the TM group for the financial year
ending December 31, 2005.

(6) Interests of directors, major shareholders and persons
connected with them

None of TM's Directors or major shareholders or persons
connected with them has any interest, direct or indirect, in the
Proposed Acquisition.

This announcement is dated 14 November 2005.


WONG ENGINEERING: Buys Back 8,000 Ordinary Shares
-------------------------------------------------
Wong Engineering Corporation Berhad furnished Bursa Malaysia
Securities Berhad a notice of shares buy back with the following
details:

Date of buy back: November 14, 2005

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

Total number of shares purchased (units): 8,000

Minimum price paid for each share purchased (MYR): 0.300

Maximum price paid for each share purchased (MYR): 0.300

Total consideration paid (MYR): 2,418.36

Number of shares purchased retained in treasury (units): 8,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 1,506,200

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

CONTACT:

Wong Engineering Corporation Berhad
2nd Floor, 6762
Jalan Kampung Gajah
12200 Butterworth
Pulau Pinang
Phone: 04-3313031
Fax: 04-3321200
Web site: http://www.wec.com.my


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

DIGITAL TELECOMMUNICATIONS: Widens Net Loss to Php1.80 Bln
----------------------------------------------------------
Digital telecommunications Philippines Inc. (Digitel) has
incurred a net loss of Php712.9 million in the third quarter,
widening its loss to Php1.80 billion in the nine months to
September, Dow Jones Newswires reports.

Digitel bled Php384.7 million in the third quarter of 2004 and
Php1.08 billion in the January-September period last year.

While revenue in the third quarter rose 14 percent on year to
Php2.07 billion, the telephone firm was unable to cover an
increase in operating expenses, and depreciation and
amortization charges. Total expenses rose in the July-September
quarter to Php2.08 billion from Php1.84 billion last year.

The company said cost-cutting measures initiated at its fixed-
line business and data services pared its operating loss in the
first nine months to Php30.3 million from Php117.2 million in
the year-ago period.

Digitel said the increase in revenue was a result of an increase
in revenue generated by Digitel's cellular business that is
marketed under the brand Sun Cellular.

However, the company said the gain in its cellular operations
was tempered by lower fixed-line revenue, which continues to
suffer from subscribers use of the cheaper text messaging
service of cellular phones.

Digitel said other charges rose 69 percent on year to Php1.74
billion during January-September because of Php960 million in
interest payments for foreign borrowings.

CONTACT:

Digital Telecommunications Phils Inc
110 E Rodriguez Jr Ave Bagumbayan
1110 Quezon City 1110
Philippines
Phones: +63 2 633 0000
Fax: +63 2 635 6142
Web site: http://www.digitelone.com/


FORUM PACIFIC: Net Loss Balloons to Php6.56 Mln
-----------------------------------------------
Forum Pacific Inc. booked a net loss of Php6.56 million in the
year ended June 30, 2005, as against a Php5.8-million loss in
the same period last year. Loss per share increased by
Php0.000318 or 11.95% from -Php0.00318 to -Php0.003560.

Revenues were down 23.91 percent from Php8.6 million to Php6.6
million. The bulk of the firm's revenues were derived from the
interest income earned by Express Savings Bank from loans and
the decrease was due to lower collection of interest on loans.
This was the result of increasing level of non-performing loans.

Costs and expenses, on the other hand, decreased by 19 percent
from Php15.38 million to Php12.45 million. However, there was an
increase in finance cost by Php2.6 million.

Costs and expenses consisted primarily of compensation and
fringe benefits, depreciation and amortization, office rentals,
professional fees, taxes and licenses, membership dues and
subscriptions and representation expenses.

A complete copy of Forum Pacific's financial statements is
available at:
http://bankrupt.com/misc/tcrap_forumpacific111605.pdf

CONTACT:

Forum Pacific Inc.
22/F Citibank Tower
8741 Paseo de Roxas
Makati City
Phone No/s:  848-0848; 893-7019
Fax No/s:  848-1137
E-mail Address:  feiexplo@mozcom.com


LAFAYETTE MINING: Workers Tell Probe Team Spill No Accident
-----------------------------------------------------------
Workers of Lafayette Mining (Philippines) reveal that the waste
spill at the mining site in Rapu Rapu was no accident, The
Philippine Daily Inquirer revealed.

Lafayette employees told an independent team investigating the
mine spill that they were ordered to release the waste from the
tailings pond into the sea.

The latest claim disputes an official report from the Department
of Environment and Natural resources (DENR) that the Oct. 31
mine spill was an accident.

The fact-finding team, led by the Center for Environmental
Concerns (CEC), announced it had gathered testimony from more
than seven workers who claimed they were instructed to redirect
the pipes from the tailings ponds to the creeks, which lead to
the Albay Gulf.

CEC leader Januar Ong showed a video of a worker in the tailings
dam. The worker was drawing the location of the tailings ponds
and the pipes that supposedly channeled the mine waste and
effluent to the sea instead of the polishing pond. Mr. Ong said
the workers refused to be identified but they admitted that one
Saturday before the Oct. 31 mine spill, they were told to bring
down the pipes so that these would lead directly to the sea.

The Mines and Geosciences Bureau (MGB) disputed CEC's claim,
saying there were no structures or pipes that could be moved to
redirect the flow of tailings or effluents.

Reynulfo Juan, MGB regional director, said the workers' claim
that they had to channel the pipes from the tailings ponds to
the sea was nearly impossible because the pipes were very heavy
structures that could not be easily moved.

The MGB showed photos of Lafayette's system, which included a
main tailings pond, a lower tailings pond, two settlings ponds
and a polishing pond. These structures show the route of the
mine tailings from the detoxification plant.

CONTACT:

LAFAYETTE MINING LIMITED
Suite 1, Level 5
189 Flinders Lane
Melbourne
Australia VIC 3000
Telephone: +61 (0)3 9654 6044
Facsimile: +61 (0)3 9654 6010
E-mail: info@lafayettemining.com
Web site: http://www.lafayettemining.com


MANILA ELECTRIC: ATR-Kim Eng Cuts Net Loss Estimate
---------------------------------------------------
ATR-Kim Eng Securities Inc. said it has lowered its net loss
estimate for Manila Electric Co. (Meralco) for 2005 to Php151
million from Php1.47 billion, after the power distributor posted
a lower-than-expected net loss for the third quarter to
September, The Manila Bulletin says.

Meralco reported on Oct 26 a net loss of Php16.72 million for
the third quarter, reversing the year-earlier profit of Php832
million, because of continuing provisions for probable losses
should the Supreme Court rule against its petition to modify its
rate structure, which means higher tariffs. ATR-Kim Eng analyst
Laura Dy-Liacco said Meralco's operations and maintenance costs,
"under-recoveries" in purchased power costs and system losses
were all lower than expected in the third quarter.

For the first nine months, Meralco's net loss was Php243.13
million, compared to a net profit of Php2.25 billion in the same
period last year.

Mr. Dy-Liacco still sees a recovery for Meralco in 2006, but she
has reduced her net profit estimate for the company to Php2.47
billion from Php2.57 billion, assuming a lower volume growth of
3.6 percent instead of 5.5 percent.

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Phone:  16220 (TL); 633-4553 (Corp. Sec.)
Fax:  (0632) 631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


PHILIPPINE AIRLINES: Cuts Fuel Surcharge on Domestic Flights
------------------------------------------------------------
Philippine Airlines (PAL) will slash its fuel surcharge on
domestic flights by Php100 for each round-trip flight starting
Nov. 17, The Manila Times reports.

PAL Executive Vice-President Henry Uy said the price roll back
was due to declining world oil prices.

The Civil Aeronautics Board has yet to approve the rollback.

It was in late April when PAL charged Php350 for its round-trip
flight within Luzon, Php470 to the Visayas and Php650 to
Mindanao.

In recent weeks, the price of crude oil in the world market has
lowered to US$64.95 per barrel from a high of US$79.16 last
September.

PAL said that should the cost of fuel ease up further, it would
adjust its fuel surcharge accordingly. The flag carrier applied
the additional charges last April 27.

CONTACT:

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


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


COBURN ENTERPRISES: Asks Creditors to Submit Debt Claims
--------------------------------------------------------
Notice is hereby given that the creditors of Coburn Enterprises,
which is being qound up voluntarily, are required on or before
Dec. 11, 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 the said debts
or claims at such time and place as shall be specified in such
notice; in default thereof, they will be excluded from the
benefit of any distribution made before such debts are proven.

Dated this 11th day of November 2005

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


FHTK HOLDINGS: Appoints Independent Director
--------------------------------------------
FHTK Holdings Limited announced that its Board of Directors
approved the appointment of Mr. Lim How Teck as Director and
Chairman of the Audit Committee, effective Nov. 8, 2005.

CONTACT:

FHTK Holdings Limited
20 Harbour Drive
Singapore 117612
Phone: 65 6779 5688
Fax:   65 6777 3960
Web site: http://www.fhtk.com.sg/


GREATRONIC LIMITED: Names New Company Secretary
-----------------------------------------------
Greatronic Limited announced that it has appointed Mr. Seah Hai
Yang as Company Secretary effective Nov. 9, 2005.

Mr. Seah will be a joint secretary of the Company, together with
Ms. Low Mei Mei Maureen.

By Order of the Board

James Hong Gee Ho
Chairman

CONTACT:

Greatronic Limited
101 Cecil Street
#10-07 Tong Eng Building
Singapore 069533
Phone: 65 6225 0560
Fax:   65 6225 0562


INFORMATICS HOLDINGS: Releases Information on Financial Report
--------------------------------------------------------------
Informatics Holdings Limited announced that it has provided
additional information in relation to the Company's financial
statement for the period ended Sept. 30, 2005.

The Company further announces that under its scheme, there were
unexercised options to subscribe for 10,849,000 ordinary shares
as of Sept. 30, 2005; and that none of the 78,400,000 warrants
it had issued on Oct. 1, 2004 (due to expire on Sept. 30, 2009)
were exercised.

To view the Company's announcement, go to:

http://bankrupt.com/misc/tcrap_informaticsholdings111605.pdf

CONTACT:

Informatics Holdings Limited
Informatics Campus
12 Science Centre Road
Singapore 609080
Phone: 65 6562 5625
Fax:   65 6565 1371
Web site: http://www.informaticsgroup.com


MAE ENGINEERING: Disposes of Entire Stake in Unit
-------------------------------------------------
MAE Engineering Limited announced that on Nov. 14, 2005, it
entered into a sale and purchase agreement with Mr. Hui Kien
Ling for the sale of its entire shareholding (100 ordinary
shares at USD1 each) in a Company subsidiary, Dino-MAE
Creations, Inc., at a consideration of USD1.00.

The consideration, which is to be paid in cash, was negotiated
on a "willing buyer and willing seller" basis, considering the
subsidiary's negative net tangible assets.

The sale will result in a write-back of the Company's previous
provision of SGD301,285.

Ong Puay Koon
Executive Chairman

Nov. 14, 2005

CONTACT:

MAE Engineering Limited
149 Rochor Road #05-13/15
Fu Lu Shou Complex
Singapore 188425
Phone: 65 6334 0300
Fax:  65 6339 0020


PACOM S.E. ASIA: Seeks Liquidation
----------------------------------
NOTICE is hereby given that Pacom S.E. Asia Pte Limited filed a
winding up petition in the Singapore High Court on Oct. 3, 2005.

The Petition is directed to be heard before the Court sitting at
the Singapore High Court on Nov. 25, 2005, 10:00 a.m.

Any Company creditor or contributory desiring 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 Company creditor
or contributory requiring the copy of the Petition by the
undersigned on payment of the regulated charge for the same.

The Petitioners' address is at 11 Collyer Quay, #14-04/05 The
Arcade, Singapore 049317.

The Petitioners' Solicitors are Messrs Kweh Lee & Partners of 11
Collyer Quay, #14-04/05 The Arcade, Singapore 049317.

Dated this 16th of November 2005

Kweh Lee & Partners
Solicitors for the Petitioners

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to solicitors Messrs Kweh Lee &
Partners notice in writing of his intention to do so. The notice
must state the name and address of the person, or, if a firm,
the name and address of the firm, and must be signed by the
person or firm, or his or their solicitor (if any) and must be
served, or if posted, must be sent by post in sufficient time to
reach the solicitors not later than 12:00 p.m. of Nov. 24, 2005
(the day before the day appointed for the hearing of the
petition).

CONTACT:

Pacom S.E. Asia Pte Limited
18 Tannery Lane
#03-02 Lian Tong Building
Singapore 347780
Phone: 65 6741 3818
Fax:   65 6748 7078
Email: pacom@cyberway.com.sg


SPH MEDIAWORKS: Intends to Pay Dividend to Creditors
----------------------------------------------------
SPH Mediaworks Limitedof 1000 Toa Payoh North, News Centre,
Singapore 318994, posted a notice of intended dividend at the
Government Gazette, Electronic Edition with the following
details:

Name of Company: SPH Mediaworks Limited
Last day for receiving proofs: Dec. 5, 2005
Name  & address of Liquidators: Peter Chay Fook Yuen and Tham
Sai Choy
C/o KPMG
16 Raffles Quay #22-00, Hong Leong Building
Singapore 048581

Dated this 11th day of November 2005


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

ADVANCE AGRO: Earns B- Rating from S&P
--------------------------------------
The corporate credit rating for Advance Agro Public Co. Ltd. was
affirmed to B- with a stable outlook, according to Standard &
Poor's Ratings Services.

At the same time, Standard & Poor's affirmed its 'CCC' issue
rating on the US$48.7 million 13% notes due 2007 issued by
Advance Agro Capital B.V., and guaranteed by Advance Agro.

These notes are effectively subordinated to Advance Agro's
substantial amount of secured debt.

"The rating on Advance Agro factors in its integrated and
efficient operations, and its favorable market position in
Thailand," said Standard & Poor's credit analyst Cheow Hon Lee.
"Nevertheless, the rating is constrained by moderate risk
associated with the technical default of the bond due 2007, weak
cash flow protection measures, aggressive capital structure, and
exposure to the volatile prices of pulp and paper products."

Advance Agro is one of the leading integrated pulp and paper
companies in Thailand, with total assets of about Thai baht
(THB) 29 billion (US$704.2 million) at June 30, 2005. The
company has an annual production capacity of about 556,000 tons
of printing and writing paper through three paper machines, and
it produces 500,000 tons of pulp through two pulp mills. It has
a significant overseas presence particularly in Asia, with
exports accounting for 60% of sales.

The company is in technical default of the US$48.7 million bond
due 2007 following the breach of two bond covenants. Advance
Agro does not plan to seek a consent or waiver from bondholders
on the technical default.

As such, there is a moderate risk of a declaration of
acceleration on the principal and accrued interest by the
bondholders, and a corresponding cross default on Advance Agro's
other long-term debt. To date, the company has continued to
service its debt obligation on a timely basis and bondholders
have not declared an acceleration of debt service payment after
the notice of noncompliance served to bondholders in October
2005. Nevertheless, there remains a legal avenue for the
bondholders to pursue such action.

Advance Agro's liquidity is weak. The company has refinancing
risk and is dependent on the smooth rollover of its short-term
credit facilities. At June 30, 2005, the company had debt of
THB4.6 billion due within the next 12 months, compared with its
cash balance of THB1.2 billion. Advance Agro will need to roll
over the remaining debt or refinance through other means.

In addition, there is a moderate risk of a declaration of
acceleration on the principal and accrued interest by the
bondholders of the bond due 2007, and a corresponding cross
default on Advance Agro's other long-term debt.

The stable outlook on Advance Agro is underpinned by its
favorable domestic market position and efficient integrated
operations. It assumes that the company can roll over or
refinance its short-term credit facilities.

"The rating may be raised if there is significant improvement in
liquidity and if the company can achieve and maintain a debt-to-
EBITDA ratio of below 4x," said Mr. Lee. "Conversely, a rating
downgrade is likely if the bondholders declare an acceleration
of debt repayment given the current technical default."

CONTACT:

Advance Agro Public Company Limited
1 Moo 2, Tambol Tha Toom, Amphoe Si Maha Phot Prachinburi
Telephone: 0-3720-8800
Fax: 0-3720-8850-1
Web site: http://www.advanceagro.com


ASIA HOTEL: Securities Trading Still Suspended
----------------------------------------------
The Asia Hotel Public Company Limited (Asia) submitted to the
Stock Exchange of Thailand (SET) its reviewed financial
statement for the period ending September 30, 2005.

As the company 's auditor was unable to reach any conclusion on
the financial statement, it can be considered that the numbers,
which represent the company's financial status and operating
outcome as presented in its financial statement, failed to
adequately and/or properly reflect the actual position of the
company.

The SET, then, informs shareholders and investors for the above
matters to scrutinize the auditor 's report on its financial
statements.

The SET has still suspended trading on the securities of the
company in view of the fact that it must prepare a
rehabilitation plan.

CONTACT:

Asia Hotel Public Company Limited
296 Phayathai Road, Phaya Thai Bangkok
Telephone: 0-2215-0808
Fax: 0-2215-4360
Web site: http://www.asiahotel.co.th


BANGKOK STEEL: Explains Third Quarter Financial Results
-------------------------------------------------------
Economic Intellect Co. Ltd. and C.J. Morgan Co. Ltd. on behalf
of the plan administrator of Bangkok Steel Industry Plc.
submitted to the Stock Exchange of Thailand (SET) the reviewed
financial statement for the Third Quarter ended September 30,
2005:

The operating results of the company had the profit decreased by
886 percent from that of the prior year as revenues reduced 30
percent due to the declining demand of steel bar starting from
the Second quarter of 2005 as well as the fluctuation of selling
price.

When adding the performance of the six subsidiaries, it appeared
that the consolidated statement had incurred a loss lower than
98 percent from that of the prior year as it had not any non-
operation transaction, the loss from the subsidiaries which
transferred share to pay debt for THB5,861 million in 2004.

For 3 months ended September 30, 2005
Unit: Million baht

                 Consolidated F/S          The Company
                   2005       2004        2005         2004

Revenues          2,295      3,405       1,749        2,493

Cost of goods
sold              2,247      2,936       1,673        2,080

Selling and          72        141          36           90
administrative
Expenses

Profit (Loss)       (73)    (3,987)        (55)           7

Earnings (Loss)   (0.60)    (32.75)      (0.34)        0.04
per share

The company was able to completely fulfill the rehabilitation
plan in the Third Quarter of 2005 as follows:

(1) The progress of the debt contend summarized that the
official receiver had decision to the applications to receive
performance of 26 creditors accounting for 64.12 percent of
total debt applied. There are three applications waiting for
decision accounting for 35.88 percent of the total obligation
applied.

(2) The progress of the rehabilitation plan could be summarized
as follows.

(a) Payment made by the company

(1) The company paid by installment to the creditors according
to the rehabilitation plan as at September 30, 2005 for
THB40,680,538 comprised principal of THB8,969,860.57 and
interest of THB31,710,677.43.

(2) The company appraised and transferred asset to pay debt
according to the rehabilitation plan as at September 7, 2005
amounting to THB130,942,396.20.

(b) Payment made by guarantors

(1) The guarantors paid principal to the creditor according to
the rehabilitation plan as at September amounting to
THB140,000,000.

(2) The guarantors transferred asset to pay debt for the company
to the creditors according to the rehabilitation plan amounting
to THB111,000,000.

However, the plan administrators will perform according to the
rehabilitation plan and periodically report the progress of the
plan to the SET.

Please be informed accordingly.

Yours sincerely,

Economic Intellect Co., Ltd.
Plan administrator

C.J. Morgan Co., Ltd.
Plan administrator

CONTACT:

Bangkok Steel Industry Public Company Limited
United Flour Mill Bldg,
205 Rajawong Road,
Samphanthawong Bangkok
Telephone: 0-2226-0088, 0-2226-0680, 0-2226-6120-29
Fax: 0-2224-7698, 0-2222-7497
Web site: http://www.bangkoksteel.co.th


T.C.J. ASIA: Exits Business Reorganization
------------------------------------------
T.C.J. Asia Plc (TCJ) informed the Stock Exchange of Thailand
(SET) that the Central Bankruptcy Court has granted an order for
termination of TCJ's Business Reorganization on November 14,
2005 as the Plan Administrator had already completed TCJ's
Business Reorganization Plan.

Please be informed accordingly.

Yours Faithfully,
Ms. Srivilai Chatjuthamard
Financial Director

CONTACT:

T.C.J. Asia Pcl
89/169 Moo 7, Vibhavadi Rangsit Road,
Don Muang Bangkok
Telephone: 0-2552-6611, 0-2552-6622
Fax: 0-2552-7185-6
Web site: http://www.tcj.co.th



                            *********


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

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