TCRAP_Public/051124.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Thursday, November 24, 2005, Vol. 8, No. 233

                            Headlines

A U S T R A L I A

ADVANCED LABORATORY: Members Resolve to Wind Up Firm
A&I JOINERY: Members, Creditors to Review Liquidator's Report
ARAMARK/SSL SPOTLESS: G M. Rambaldi Named Liquidator
ARISTOCRAT LEISURE: Mulls Second AU$100-Mln Buyback
AUSTRALIAN REGIONAL: Broker Found Guilty of Two Charges

B.P. GLASS: Court Orders Winding Up
CLAYBONES PTY: Liquidator to Distribute Company Assets
DAIRKON PTY: Winds Up Business
DUNSHEA FINANCIAL: Failure to Pay Debt Prompts Winding Up
FORTESCUE METALS: Sues Over Shovelanna Tenement Application

HEALTHY MEALS: Creditors Favor Voluntary Liquidation
HONEY GIRL: Receiving Claims Until Next Month
ILLAWARRA CONTRACTING: Decides to Close Operations
INROADS CLOTHING: Liquidator to Detail Wind Up Manner
J EM KLEAN: Court Issues Winding Up Order

MICK ENTERPRISES: Winding Up Process Initiated
MONEY FOR LIVING: Failed Money Firm Under Fire
MYER LIMITED: Hungry Harvey Wants a Slice of Melbourne
NATIONAL AUSTRALIA: Seeks Investors for Custom Fleet Biz
NELTRANS PTY: Declares Dividend Today

PLLACK PTY: Schedules Final Meeting Dec. 1
QANTAS AIRWAYS: Sets Off Security Alarm
RAB'S GROUP: Court Appoints Official Liquidator
RANGERMAN PTY: Declares First, Final Dividend
SYDNEY ROAD: Creditors OK Liquidators' Appointment

SYFSTAND PTY: Asks Creditors to Submit Debt Claims
TELSTRA CORPORATION: Places Order for Beam Satellite Equipment
TITAN DIGITAL: Members, Creditors to Get Liquidator's Report
WESTPOINT GROUP: ASIC Takes Court Action


C H I N A  &  H O N G  K O N G

BESTWAY INTERNATIONAL: Notes Unusual Trading Volume of Shares
CHINA CONSTRUCTION: Moody's Upgrades Rating to D- from E+
CITY TELECOM: Clarifies Annual Results
CITY TELECOM: Forecast Losses Until 2007
EASTERN SKY: Court Issues Winding Up Order

INDUSTRIAL & COMMERCIAL: Moody's Upgrades Rating to D+
MING FUNG: Court Orders Liquidation
NAM FONG: Updates Property Auction
NATURE'S FARM: Creditors Meeting Set Nov. 25
YUNHAN INVESTMENTS: Prepares to Shut Down Business


I N D I A

BHARAT PETROLEUM: Signals Interest in DTH
CEAT LIMITED: Sets Record Date for Issue of Equity Shares
FOOD CORPORATION: Teams Up with Adani for Grain Management


I N D O N E S I A

BHINNEKA MULTI: Likely to Fall into Bankruptcy
PERTAMINA: To Distribute Subsidized Fuel Until Dec. 31
PERTAMINA: Insists on Joint Operation of Cepu Block


J A P A N

NIKKO KANAYA: Ashikaga to Rescue Historic Hotel
MITSUBISHI MOTORS: GHK Motors Awarded Brunei MINDEF Contract
SANYO ELECTRIC: R&I Downgrades Rating to BBB
SANYO ELECTRIC: S&P Downgrades Rating to 'BB'
SANYO CANADA: Reveals 7,000:1 Contrast LCD Theatre Projector

SOJITZ CORPORATION: JCR Assigns BBB- Rating
* Japanese Electronics Firms Struggle to Survive


K O R E A

DAEWOO ENGINEERING: Up for Sale Next Year
DAEWOO PRECISION: Creditors to Conclude Sale This Month


M A L A Y S I A

BELL & ORDER: Determines Price of Rights Issue
BELL & ORDER: Unit Served with Winding Up Petition
FURQAN BUSINESS: Bourse to Suspend Warrant Trading
MAGNUM CORPORATION: Issues New Shares for Listing
MAGNUM CORPORATION: Buys Back Ordinary Shares

MANGIUM INDUSTRIES: Unit Fails to Pay Dues
MEDIA PRIMA: Unveils Outstanding Terms of EB Issue
NALURI CORPORATION: EGM Slated for Dec. 20
PACIFIC & ORIENT: Bourse to List, Quote New Shares
POLYMATE HOLDINGS: Parties Agree to Revoke SPA

SIME DARBY: Unit to Undergo Wind Up Process
SUNWAY INFRASTRUCTURE: Incurs Net Loss in 3Q/FY05
SUREMAX GROUP: Net Loss Down to MYR4,426,000 in 4Q/FY05
TENCO BERHAD: Results Swing to Black in 2Q/FY05


P H I L I P P I N E S

COLLEGE ASSURANCE: Rebuts Planholders' Claims
GLOBAL STEELWORKS: Creditors Formally Waive Default Call
NATIONAL POWER: Zero-coupon Bonds Yield 9.875%
NATIONAL POWER: Geothermal Assets First to Go in Privatization
SWIFT FOODS: Director Tenders Resignation

VITARICH CORPORATION: Net Losses Dip on Lower Cost, Expenses
* Fitch Says RP Banks' Financial Strength Hurt by Weak Profits


S I N G A P O R E

ACCORD CUSTOMER: COO Tenders Resignation
AROVEST PTE: Wound Up by Parent Firm
CREATIVE TECHNOLOGY: Unveils Personalized Digital Music Player
DONGBO CHEM: Court Issues Wind Up Order
FIRSTLINK INVESTMENTS: Sells New Zealand Property

TRI-M TECHNOLOGIES: Answers SGX-ST Queries on Financial Report


T H A I L A N D

JASMINE INTERNATIONAL: To Hold Warrant Exercise December 15
M.D.X: Executive Quits Post
SIAM AGRO-INDUSTRY: Court OKs Rehab Plan
TANAYONG: Security Trading Remains Suspended

     -  -  -  -  -  -  -  -

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

ADVANCED LABORATORY: Members Resolve to Wind Up Firm
----------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Advanced Laboratory Solutions Pty Limited held
on Oct. 26, 2005, it was resolved by special resolution that the
Company be wound up in a members' voluntary winding up, and Greg
Seers was appointed as Liquidator for such purpose.

Dated this 7th day of November 2005

Greg Seers
Liquidator
C/o Shepard Webster & O'Neill Pty Limited
Level 1, 434 Nepean Highway
Frankston Vic 3199
Phone: 03 9781 2633
Fax:   03 9781 3073


A&I JOINERY: Members, Creditors to Review Liquidator's Report
-------------------------------------------------------------
Notice is given that a joint meeting of the members and
creditors of A&I Joinery Pty Limited will be held on Dec. 1,
2005, 10:00 a.m. at the offices of Horwath Sydney Partnership,
Level 10, 1 Market Street, Sydney NSW 2000, to present the
Liquidator's account showing the manner in which the winding up
was conducted and the property of the Company disposed of, and
to hear any explanations that may be given by the Liquidator.

Dated this 19th day of October 2005

G. T. Hancock
Liquidator
Horwath Sydney Partnership
Level 10, 2 Market Street
Sydney NSW 2000


ARAMARK/SSL SPOTLESS: G M. Rambaldi Named Liquidator
----------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Aramark/SSL Spotless Services Pty Limited held on Oct. 26,
2005, a Special Resolution was passed to voluntarily wind up the
Company, and G. M. Rambaldi was appointed as Liquidator for such
wind up.

Dated this 26th day of October 2005

G. M. Rambaldi
Liquidator
Pitcher Partners
Level 19, 15 William Street
Melbourne Vic 3000


ARISTOCRAT LEISURE: Mulls Second AU$100-Mln Buyback
---------------------------------------------------
Aristocrat Leisure Limited said it will begin a second AU$100
million on-market share buyback, Dow Jones Newswires reports.

The Australian slot-machine maker said it will undertake a
second buyback on or after Dec. 8, after completing its first
AU$100 million buyback on Oct. 17.

CONTACT:

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


AUSTRALIAN REGIONAL: Broker Found Guilty of Two Charges
-------------------------------------------------------
Mr. Adam Mazzochetti, of Geelong, Victoria, has been found
guilty in the Broadmeadows Magistrates Court, Victoria, of two
charges of managing a company while disqualified.

Mr. Mazzochetti, a former director of Geelong-based mortgage-
broking company Australian Regional Home Loans Pty Ltd
(Deregistered), appeared before Court on the charges following
an investigation by the Australian Securities and Investments
Commission (ASIC).

ASIC alleged Mr. Mazzochetti managed two companies, Australian
Regional Home Loans Pty Ltd (Deregistered) and ARHL (VIC) Pty
Ltd trading as 'Victoria Regional Home Loans', despite being
disqualified to do so after being convicted on 28 November 2001
of 16 counts of obtaining property by deception under the Crimes
Act 1958 (VIC). Australian Regional Home Loans Pty Ltd
(Deregistered) had gone into liquidation while Mr. Mazzochetti
was disqualified from managing companies.

Mr. Mazzochetti was convicted and sentenced to a conviction bond
under the Crimes Act 1914 (Cth) in the amount of $500 to be of
good behavior for 12 months subject to a condition that he pay
$500 to the Court fund and costs.

The Commonwealth Director of Public Prosecutions prosecuted the
matter.

Background

The Corporations Act 2001 automatically disqualifies a person
from managing corporations for five years if a person had been
convicted of an offence involving dishonesty and punishable by
imprisonment for at least three months. Accordingly, due to his
conviction on 28 November 2001, Mr. Mazzochetti was
automatically disqualified from managing corporations from the
date of the above conviction on 28 November 2001.


B.P. GLASS: Court Orders Winding Up
-----------------------------------
On Oct. 28, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of B.P. Glass Kingswood Pty
Limited, and appointed Steven Nicols to be the Company
Liquidator.

Dated this 31st day of October 2005

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


CLAYBONES PTY: Liquidator to Distribute Company Assets
------------------------------------------------------
At a general meeting of Claybones Pty Limited held on Oct. 28,
2005, the following Special Resolution was passed:

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

Dated this 31st day of October 2005

Frank Carbone
Liquidator
Suite 11, 46-48 Urunga Parade
Miranda NSW 2228


DAIRKON PTY: Winds Up Business
------------------------------
Notice is hereby given that at a general meeting of the members
of Dairkon Pty Limited held on Oct. 27, 2005, it was resolved
that the Company be wound up voluntarily, and that Con Kokkinos
of O'Keeffe Walton Richwol Chartered Accountants, Suite 3, 431
Burke Road, Glen Iris 3146 be appointed as Liquidator for the
winding up.

Dated this 27th day of October 2005

Con Kokkinos
Liquidator
O'Keefe Walton Richwol Chartered Accountants
Suite 3, 431 Burke Road
Glen Iris 3146


DUNSHEA FINANCIAL: Failure to Pay Debt Prompts Winding Up
---------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Dunshea Financial Services Pty Limited held on Nov. 1, 2005,
the following Special Resolution was passed:

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

Stephen Jay of Nicholls & Co. Chartered Accountants, Suite 2,
1st Floor, 43 Macquarie Street, Dubbo NSW was appointed as
Liquidator for the winding up.

Dated this 1st day of November 2005

Stephen Jay
Liquidator
Nicholls & Co. Chartered Accountants
Suite 2, 1st Floor, 43 Macquarie Street
Dubbo NSW


FORTESCUE METALS: Sues Over Shovelanna Tenement Application
-----------------------------------------------------------
Fortescue Metals Group Limited advised that this morning it has
commenced an action in the Federal Court of Australia against
Cyril Resources Pty Ltd (a wholly owned subsidiary of Cazaly
Resources Ltd), Mr. Natahn Mcmahon and Maincoast Pty Ltd (a
company associated with Mr. McMahon).

The Federal Court action is in specific regard to the Shovelanna
tenement and is brought to secure Fortescue's interests. In
early 2004, Fortescue enters into an agreement with Nathan
Macmahon and Maincoast Pty Ltd in which Fortescue was granted
pre-emptive rights to all iron ore prospective tenement
applications made by these entities. Since then there have been
iron ore rights provided to Fortescue under the agreement for
which remuneration has been paid.

Fortescue contends that the Shovelanna tenement application
should have been made with due regard to the agreement and has
been negotiating in good faith with Nathan McMahon to determine
its rights. Regrettably these discussions have recently broken
down and Fortescue now has no alternative other than to take
legal action to protect its position under its agreement.

The Shovelanna tenement would be a welcome addition to
Fortescue's tenement portfolio. Fortescue will pursue its
contractual entitlement to access the iron ore rights of this
prospective area. Fortescue also categorically denies media
speculation that it has acquired share in Cazaly Resources
Limited.

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/


HEALTHY MEALS: Creditors Favor Voluntary Liquidation
----------------------------------------------------
Notice is hereby given that on Oct. 31, 2005, the following
special resolution was passed:

That Healthy Meals Pty Limited be wound up voluntarily relating
to a Creditors' Voluntary Winding Up, and that B. J. Marchesi,
Chartered Accountant of Level 5, 332 St. Kilda Road, Melbourne
be appointed as Liquidator for such purpose.

Dated this 2nd day of November 2005

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


HONEY GIRL: Receiving Claims Until Next Month
---------------------------------------------
Notice is given that creditors of Honey Girl Pty Limited, which
is in voluntary liquidation, are required on or before Dec. 2,
2005 to prove their debts or claims and to establish any title
they may have to priority by delivering or sending through the
post a formal proof of debt or claim in accordance with Form 535
or 536 containing their respective debts or claims to the
Company liquidator.

In default thereof, they will be excluded from the benefit of
any distribution made before their debts or claims are proven or
their priority is established, and from objecting to the
distribution.

Forms of proof are available at the Liquidator's office.

Dated this 11th day of November 2005

Albert Saltoon
Liquidator
733A Old South Head Road, Vaucluse NSW 2030


ILLAWARRA CONTRACTING: Decides to Close Operations
--------------------------------------------------
Notice is hereby given that at a creditors' meeting of Illawarra
Contracting Services Pty Limited held on Oct. 27, 2005, it was
resolved that the Company be wound up voluntarily, and that
Danny Vrkic of Jirsch Sutherland & Co - Wollongong, Chartered
Accountants be appointed as Liquidator for such winding up.

Dated this 8th day of November 2005

Danny Vrkic
Liquidator
Jirsch Sutherland & Co - Wollongong Chartered Accountants
Level 3, 6-8 Regent Street
Wollongong NSW 2500
Phone: 02 4225 2545
Fax:   02 4225 2546


INROADS CLOTHING: Liquidator to Detail Wind Up Manner
-----------------------------------------------------
Notice is given that a joint meeting of the members and
creditors of Inroads Clothing Co Pty Limited will be held on
Dec. 1, 2005, 11:00 a.m. at the offices of Horwath Sydney
Partnership, Level 10, 1 Market Street, Sydney NSW 2000, to have
an account laid before them showing the manner of the winding up
and disposal of the property of the Company, and to hear any
explanations that may be given by the Liquidator.

Dated this 19th day of October 2005

G. T. Hancock
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000


J EM KLEAN: Court Issues Winding Up Order
-----------------------------------------
On Nov. 1, 2005, the Supreme Court of New South Wales, Equity
Division ordered that J Em Klean Services Pty Limited be wound
up, and appointed Steve Nicols to be the Company Liquidator.

Steve Nicols
Liquidator
Level 2, 350 Kent Street
Sydney NSW 2000


MICK ENTERPRISES: Winding Up Process Initiated
----------------------------------------------
Notice is hereby given that at a general meeting of the members
of Mick Enterprises Pty Limited held on Oct. 26, 2005, a special
resolution was passed that the Company be wound up voluntarily,
and that Gregory Stuart Andrews of 22 Drummond Street, Carlton
3053 be appointed as Liquidator for such purpose.

Dated this 27th 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


MONEY FOR LIVING: Failed Money Firm Under Fire
----------------------------------------------
Administrators investigating the failed Money for Living company
said they have found transactions that may be overturned,
according to the Herald Sun.

They have also found unsecured creditors and parties linked to
the firm's owners were paid just before the company fell.

The disputed purchases include a Jaguar car, which has been
advertised for sale on the Internet for AU$125,000, and a house
at Wongarra.

Money for Living's collapse has left more than 100 elderly
people in the dark about whether they can continue living in
their homes.

Administrator George Georges, of Ferrier Hodgson, told the
Federal Court the investigation into the standing of the home
owners and the company's debts was continuing, although it had
been slowed by the disorganized and incomplete state of the
company's records.


MYER LIMITED: Hungry Harvey Wants a Slice of Melbourne
------------------------------------------------------
Harvey Norman's chief executive signified his interest to buy
the ailing Myer Limited department store chain, according to the
Sydney Morning Herald.

Still not satisfied with acquisitions in Slovenia and Ireland,
Gerry Harvey now wants to gain foothold in Melbourne.

Mr. Harvey said he was working through a prospective bidder's
information. He added he was looking to team with a private
equity firm to bid for the loss-making retailer.

Harvey Norman joins South Africa's largest retailer, Edgars
Consolidated Stores, as an interested buyer. David Jones boss
Mark McInnes has said he wants "a handful" of the stores. Former
Coles Myer director Solomon Lew is understood to be interested,
as are private equity firms Newbridge Capital and Catalyst.

Coles Myer, Myer's parent, announced in August it would examine
options for the Myer business, including a full sale, demerger
or maintaining the status quo, with analysts estimating the 61
stores could fetch about AU$450 million.

CONTACT:

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

Coles Myer Limited
800 Toorak Rd.
Tooronga, Victoria 3146, Australia
Phone: +61-3-9829-3111
Fax: +61-3-9829-6787
Web site: http://www.colesmyer.com/


NATIONAL AUSTRALIA: Seeks Investors for Custom Fleet Biz
--------------------------------------------------------
National Australia Bank (NAB) confirmed that it is undertaking a
process to seek expressions of interest for its wholly owned
fleet leasing and management business, Custom Fleet. This
process is in response to the receipt of several inquiries from
interested parties in relation to Custom Fleet.

Custom Fleet is a strong business and a leading player in the
vehicle fleet management and leasing industries in Australia and
New Zealand.

NAB seeks to manage its business for the benefit of its
shareholders, customers and staff. Undertaking this process
confirms these principles and NAB's commitment to exploring
opportunities to maximize value for shareholders. No firm
decision has been made to sell the business and any decision
will be made after a process that may take several months to
conclude.

CONTACT:

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


NELTRANS PTY: Declares Dividend Today
-------------------------------------
Neltrans Pty Limited will declare a first and final dividend to
its unsecured creditors today, Nov. 24, 2005.

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

Dated this 13th day of September 2005

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


PLLACK PTY: Schedules Final Meeting Dec. 1
------------------------------------------
Notice is given that a joint meeting of the members and
creditors of Pllack Pty Limited will be held on Dec. 1, 2005,
10:00 a.m. at the offices of Horwath Sydney Partnership, Level
10, 1 Market Street, Sydney NSW 2000, to present the
Liquidator's account showing the manner of the winding up and
disposal of the property of the Company, and to hear any
explanations that may be given by the Liquidator.

Dated this 19th day of October 2005

G. T. Hancock
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000


QANTAS AIRWAYS: Sets Off Security Alarm
---------------------------------------
Qantas Airways is concerned passengers could pay more for
flights if the Federal Government increases security at
Australia's airports, The Age relates.

The carrier's chief operating officer, Peter Gregg, said
yesterday he will issue a stern warning to the Government during
a meeting with the Federal Parliament's Public Accounts and
Audit Committee in Sydney.

Qantas said any costs it is asked to dole out to boost security
will ultimately be passed on to passengers.

"This is an industry that, unlike every part of the aviation
(industry) around the world, the airlines are paying for most of
the security themselves here, and the passengers ultimately,"
Mr. Gregg said.

The Government was set to take evidence on aviation security
with public hearings in Sydney yesterday and in Melbourne today.
Among other witnesses appearing before the inquiry will be the
operators of Sydney and Melbourne international airports, and
Australian Air Express.

CONTACT:

Qantas Airways Limited
Qantas Centre, Level 9,
Building A, 203 Coward Street,
Mascot, NSW, Australia, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339
Web site: http://www.qantas.com.au


RAB'S GROUP: Court Appoints Official Liquidator
-----------------------------------------------
On Oct. 28, 2005, the Federal Court of Australia NSW District
Registry ordered the winding up of Rab's Group Pty Limited, and
appointed Stephen James Parbery to be Liquidator of the Company.

Dated this 31st day of October 2005

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


RANGERMAN PTY: Declares First, Final Dividend
---------------------------------------------
Rangerman Pty Limited will declare a first and final dividend
today, Nov. 24, 2005.

Creditors who were able to prove their debts or claims will be
excluded from the benefit of the dividend.

Dated this 19th day of September 2005

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


SYDNEY ROAD: Creditors OK Liquidators' Appointment
--------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Sydney Road Services Pty Limited held on Oct. 26, 2005, a
Special Resolution was passed to voluntarily wind up the family,
and P. Ngan and G. Parker were appointed as Joint and Several
Liquidators for such purpose. Creditors confirmed the
Liquidators' appointment at a creditors' meeting held that same
day.

Dated this 1st day of November 2005

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


SYFSTAND PTY: Asks Creditors to Submit Debt Claims
--------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Syfstand Pty Limited held on Oct. 26, 2005, the following
resolutions were passed:

That the Company be wound up voluntarily; and

That Schon G. Condon RFD and Bruce Gleeson be appointed as Joint
Liquidators for such winding up.

Creditors are required to prove their debts or claims by Nov.
30, 2005. Failure to do so will exclude creditors from any
distribution made and from objecting to any such distribution.

Dated this 31st day of October 2005

Schon G. Condon RFD
Bruce Gleeson
Joint Liquidators
Jones Condon Chartered Accountants
Level 1, 34 Charles Street
Parramatta NSW 2150


TELSTRA CORPORATION: Places Order for Beam Satellite Equipment
--------------------------------------------------------------
Tele-IP announced that its wholly owned subsidiary, Beam
Communications, has received a major order from Telstra
Corporation, Australia.

This order, in excess of AU$350,000, includes replenishment of
in-vehicle hands-free kits for the handheld Telstra Mobile
Satellite terminals, along with the acquisition of the recently
released new Beam Fixed-in-vehicle satellite telephones for sale
through Telstra Mobile Satellite Dealers Australia wide.

Mr. Michael Capocchi, General Manager of Beam Communications,
said "Telstra's continued support for Beam's satellite terminals
and accessories had boosted internal Telstra sales and those of
the Telstra Mobile Satellite Dealers in meeting the needs of
rural and remote applications for mobile and fixed use."

Mr. Capocchi said, "Beam is pleased to be able to continue to
deliver on an arrangement with Telstra through its Sourcing
Agreement."

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/


TITAN DIGITAL: Members, Creditors to Get Liquidator's Report
------------------------------------------------------------
Notice is given that a final joint meeting of the members and
creditors of Titan Digital Pty Limited will be held on Dec. 1,
2005, 10:00 a.m. at the offices of Horwath Sydney partnership,
to present the Liquidator's account showing the manner of the
winding up and disposal of the property of the Company, and to
hear any explanations that may be given by the Liquidator.

Dated this 6th day of October 2005

G. T. Hancock
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000


WESTPOINT GROUP: ASIC Takes Court Action
----------------------------------------
The Australian Securities and Investments Commission (ASIC) has
commenced legal proceedings in relation to a number of companies
within the Westpoint Group, as part of an investigation into the
affairs of the companies.

ASIC today filed an application in the Federal Court in Perth
seeking the winding up of York Street Mezzanine Pty Ltd (York
Street) and the appointment of a provisional liquidator to the
company.

York Street is a company within the Westpoint Group which has
raised so-called 'mezzanine finance' for a property development
at 2 York Street in Sydney by issuing promissory notes to the
general public. ASIC contends that the project is suffering from
a significant shortfall of assets over liabilities so that some
900 investors are at serious risk of not receiving repayment of
their investments, currently estimated to total over $75
million.

ASIC is currently investigating the affairs of the Westpoint
Group, and has sought the appointment of a provisional
liquidator to help protect the assets of York Street.

ASIC has also applied for declarations, injunctions and
disclosure orders regarding alleged misleading and deceptive
conduct by York Street in its communications to investors who
hold promissory notes. The Court has also been asked to consider
an application for declarations and injunctions against
Westpoint Management Ltd on the basis that it was knowingly
concerned in, or a party to, York Street's alleged misleading
and deceptive conduct. ASIC will be asking for interim orders to
preserve the assets of the company.

These matters will be heard on 24 November 2005.

Other court action commenced by ASIC includes an application
filed on Friday, 18 November 2005 for orders seeking the
lodgment of annual financial statements by a number of companies
within the Westpoint Group namely, Emu Brewery Mezzanine Ltd,
North Sydney Finance Ltd, Market Street Mezzanine Ltd, Chocolate
Factory (Winthrop) Ltd and Paragon Apartments Ltd.

ASIC is also seeking orders for the lodgment of annual financial
statements by three managed investment schemes operated by
Westpoint Management Ltd being Warnbro Fair Syndicate, Paragon
Commercial Syndicate and Westpoint Income Fund.

ASIC's action follows the failure by the respective companies
and schemes to lodge accounts for the financial year ended 30
June 2005, which were due by 30 September 2005. ASIC has applied
to the Court for orders after the Westpoint Group failed to
comply with ASIC notices to lodge the accounts of the companies
and schemes by 14 November 2005.

ASIC is concerned to ensure that the Westpoint Group complies
with its legal obligations to provide investors and creditors
with proper financial information about the companies and
schemes operated by the group, in a timely manner.

The matter relating to the lodgment of accounts will be heard on
Dec. 14, 2005.


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

BESTWAY INTERNATIONAL: Notes Unusual Trading Volume of Shares
-------------------------------------------------------------
This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

Bestway International Holdings Limited recently noted an
increase in the trading volume of the shares of the Company and
said it is not aware of any reason for such increase save for
that there is a negotiation with independent third party at the
preliminary stage relating to a possible acquisition, which may
or may not be a notifiable transaction and may or may not be
proceeded.

The nature of the acquisition company is the manufacturing of
petrochemical product, which located in Mainland China. Further
announcement will be made as and when appropriate to comply with
the disclosure requirements of listing rules.

The company also confirm that, save as disclosed above, the
directors are not aware of any reason for such increase nor any
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.

Shareholders and investors should exercise caution in dealing in
the shares.

Made by the order of the Board of Bestway International Holdings
Limited the Directors (save for Mr. Hung Shean-I who is the
independent non-executive director, is at present out of town
and cannot be contacted) of which individually and jointly
accept responsibility for the accuracy of this statement.

For and on behalf of
Bestway International Holdings Limited
Tang Kuan Chien
Chairman
Hong Kong 22 November 2005

CONTACT:

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


CHINA CONSTRUCTION: Moody's Upgrades Rating to D- from E+
---------------------------------------------------------
Moody's Investors Service has upgraded to D- from E+ the Bank
Financial Strength Rating (BFSR) for China Construction Bank
Corporation (CCB).

The A2 long-term deposit rating and P-1 short-term deposit
rating are unaffected. The outlook for all ratings is stable.
The upgrade concludes a review of CCB commenced on September 9,
2005.

The upgrade reflects CCB's significantly improved financial
position, in particular strengthened asset quality and capital
levels. The IPO on the Hong Kong Stock Exchange, which was
completed on October 27, 2005, raised US$9.2 billion in new
capital, which further improved CCB's capital position.

However, these improvements were largely due to external forces.
A clear track record for such progress - as a result of the
bank's own efforts - has yet to emerge. Asset quality, although
showing signs of stability after the government's recent
measures to cool down the economy and the real estate sector in
particular, remains untested by economic cycles. In particular,
the special-mentioned loan ratio remains very high - a concern
for future asset quality trends.

Moody's expects CCB to continue with its reforms and maintain
its leading franchise through the pursuit of quality growth in
China's high-growth banking market. After its IPO, operations
are expected to become more transparent and subject to scrutiny,
given its status now as a public company. Corporate governance
and risk management should accordingly gradually improve.
Furthermore, the introduction of Bank of America as a strategic
investor has the potential to help improve operations over the
long run.

China Construction Bank Corporation, headquartered in Beijing,
is China's third largest commercial bank. As of June 2005, it
had total assets of US$510 billion.

Hong Kong
May Yan
Vice President - Senior Analyst
Financial Institutions Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 2916-1121

Hong Kong
Wei S. Yen
Managing Director
Financial Institutions Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 2916-1121


CITY TELECOM: Clarifies Annual Results
--------------------------------------
The board of directors of City Telecom (H.K.) Limited announced
that there is an amendment to the annual results announcement
dated November 21, 2005.

The Board would like to clarify that in the Notes to the
accounts - 8 (Loss)/earnings pershare, the number of shares used
in the calculation of loss/(earnings) per share should be
expressed in thousand. So that it should be read as follows:

Abridged Note 8:

                                  2005             2004
                              No. of shares  No. of shares
                              in thousand    in thousand

Weighted average number of
shares in issue                 613,525         610,095

Incremental shares from assumed
Exercise of share options           -             604

Incremental shares from assumed
exercise of warrants                -            3,666

Diluted weighted average number
of shares                         613,525         614,365"

As at the date of this announcement, the executive directors of
the Company are Mr. Wong Wai Kay, Ricky (Chairman), Mr. Cheung
Chi Kin, Paul (Managing Director), Ms Sio Veng Kuan, Corinna;
the non-executive director is Mr. Cheng Mo Chi, Moses; and the
independent non-executive directors are Mr. Lee Hon Ying, John,
Dr. Chan Kin Man and Mr. Peh Jefferson Tun Lu.

By Order of the Board
Eva Leung
Company Secretary
Hong Kong, November 22, 2005

CONTACT:

City Telecom (HK) Limited
Level 39, Tower I
Metroplaza, No 223
Hing Fong Road
Kwai Chung, New Territories
Phone: 31456888
Fax: 21998972
Web site: http://www.ctihk.com


CITY TELECOM: Forecast Losses Until 2007
----------------------------------------
City Telecom (H.K.) Limited prepares to spend more on marketing
to acquire the 369,000 customers it needs to increase its
customer base to one million - even if the effort keeps it in
the red for two more years, The South China Morning Post
reports.

A $237.7 million depreciation and amortization expense helped
drag the company into a loss. Revenue shrank 2.8 percent to
HK$1.13 B from HK$1.16 billion in 2004, as sales from its
international direct dialing business dropped 15.2 percent,
offsetting the 11.6 percent improvement from its fixed-line
voice, data and pay-television revenue.


EASTERN SKY: Court Issues Winding Up Order
------------------------------------------
Eastern Sky Enterprises Limited, whose office address is located
at Flat 5 3rd Floor Yale Industrial Ctr 61-63 Au Pui Wan Street
Fo Tan New Territories, issued a winding up order notice in the
High Court of the Hong Kong Special Administrative Region Court
of First Instance on November 9, 2005.

Date of Presentation of Petition: September 8, 2005

Dated this 18th day of November 2005

ET O'Connell
Official Receiver


INDUSTRIAL & COMMERCIAL: Moody's Upgrades Rating to D+
------------------------------------------------------
Moody's upgraded the bank financial strength rating of
Industrial & Commercial Bank of China (Asia) Limited (ICBCA) to
D+ from D, concluding the review commenced on September 15,
2005.

The A2 and Prime-1 long-and short-term deposit ratings were not
placed under review, as they already incorporate strong parental
support.

The outlooks for all ratings are stable.

The upgrade reflects ICBCA's improved financials and successful
integration of Fortis Bank Asia Hong Kong, acquired in 2004 and
formally completed in October 2005. The merger allowed the bank
to develop a more diversified business platform with enhanced
small-medium-enterprise (SME) banking franchise, thus lowering
its dependency on corporate banking sector. Moreover, the recent
acquisition of China Mercantile Bank is expected to improve
cross-border SME banking offerings.

Although ICBCA remains a small player in Hong Kong's mature
market, it has a valuable franchise and brand name enhanced by
its close relationship with its parent Industrial & Commercial
Bank of China (ICBC), China's largest bank. ICBCA is ICBC's
largest overseas subsidiary, formed via the acquisition of the
former Union Bank of Hong Kong in 2000 and injection of the
commercial banking business of ICBC's Hong Kong branch in 2001.
Since then, ICBCA has substantially grown its earnings and
assets, as well as significantly reduced its legacy non-
performing loans, supported by strong capital injections from
its parent.

ICBCA's profitability has shown improvement from the Fortis
acquisition but it is still significantly below the Hong Kong
peer average due to its relatively lower exposure to higher
yield lending and the incurrence of integration related
expenses. Further improvements in margins are expected as
integration is near completion.

Also, ICBCA has a lower deposit base relative to its Hong Kong
peers, thus, a higher funding cost. ICBCA's loan to deposit
ratio is significantly higher than the local peers, a reflection
of its less favorable funding mix and aggressive asset growth.

Asset quality of ICBCA is sound with impaired loans ratio of
0.68%, well below local peer average. The shift in business
focus to more SME banking will test ICBCA's risk management
skills. The bank's demonstrated ability to control credit costs
amid growth will be positive for its ratings.

ICBCA is likely to remain acquisitive in the future. Moody's
acknowledges ICBCA's track record so far in managing local
acquisitions; however, sizeable future acquisitions will test
the management skills and pressure capital.

ICBCA is headquartered in Hong Kong Special Administrative
Region and had total assets of HK$107,819 million (US$13,823
million) as at June 30, 2005.

The following ratings are upgraded:

- Bank financial strength rating to D+ from D with stable
outlook

Other related debt ratings:

Industrial and Commercial Bank of China (Asia)

- Long term/ short term deposit ratings (Foreign), A2/P-1

ICBCA (C.I.) Limited

- Backed Senior Unsecured (Foreign) rating: A2

Hong Kong
May Yan
Vice President - Senior Analyst
Financial Institutions Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 2916-1121

Hong Kong
Leo Wah
Asst Vice President - Analyst
Financial Institutions Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 2916-1121


MING FUNG: Court Orders Liquidation
-----------------------------------
Ming Fung A.V. Co. Limited, whose office address is located at
5/F Block B Fuk On Building 116 Pak Ho Street Sham Shui Po
Kowloon, issued a winding up order notice in the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on November 9, 2005.

Date of Presentation of Petition: September 7, 2005

Dated this 18th day of November 2005

ET O'Connell
Official Receiver


NAM FONG: Updates Property Auction
----------------------------------
Nam Fong International Holdings Limited announced that as
Guangzhou Sui Nan Property Development Company Limited, a
wholly-owned subsidiary of the Company, had taxation payable
overdue, the Taxation Bureau of Guangzhou City sold certain
units in Liwan Plaza, Guangzhou held by GZ Sui Nan by ublic
auction as partial settlement on October 27, 2005.

As at October 2005, GZ Sui Nan had the taxation payable of
approximately RMB44,000,000 over two years and late payment
penalty of approximately RMB18,000,000 totally approximately
RMB62,000,000. GZ Taxation Bureau sold certain units in Liwan
Plaza, Guangzhou held by GZ Sui Nan (being no. GE157-159 on
lower level one, zone 3B, west-south corner of zone 3D with a
total gross floor area of approximately 9,887 sq. m.) by public
auction on October 27, 2005 at an aggregate sum of RMB55,630,000
which would be used to settle taxation payable and late payment
penalty.

The rental income generated for the financial year ended 31
December 2004 and the period ended 31 October 2005 under the
current tenancy agreements regarding no. GE157-159 on lower
level one and zone 3B was approximately HKD1,863,828 and
HKD2,070,920 respectively and the southwest corner of zone 3D
was not rented out. The book value of the properties was
approximately HKD101,952,000 pursuant to the valuation report as
at December 31, 2004.

The public auction was held by Guangdong Nam Fong Auctioneer
Limited (not connected person within the meaning of the Listing
Rules) directly appointed by GZ Taxation Bureau and the valuer
appointed by GZ Taxation Bureau also determined the bidding
price. After payment, GZ Sui Nan still has taxation payable and
late payment penalty approximately RMB6,500,000 for which no
agreement has been signed.

GZ Sui Nan plans to settle the remaining balance of RMB6,500,000
by internal resources by the end of December, 2005. The
principal activity of the Company is investment holding and the
activities of its principal subsidiaries consists of property
development, property management and investment holdings. GZ Sui
Nan, a property developer, was incorporated under the laws of
Guangzhou City of The People­_s Republic of China with limited
liability. After the public auction, GZ Sui Nan still holds
Liwan Plaza of approximately 56,000 square meter for rental and
sale purposes.

Investors should exercise extreme caution when dealing in the
shares of the Company. Trading in the shares of the Company on
the Stock Exchange will remain suspended until the Company can
demonstrate to the satisfaction of the Stock Exchange that,
among others, the continuing listing of the shares of the
Company is warranted.

The delisting procedures under Practice Note 17 of the Listing
Rules have been commenced. Unless the Company takes adequate
action to obtain restoration of its listing and submits a
resumption proposal which satisfactorily addresses all the
outstanding issues by May 1, 2006, the Stock Exchange will
proceed to place the Company in the second stage of the
delisting procedures.

Further announcement will be made as and when appropriate.

By Order of the Board
Tong Shi Jun
Chairman
Hong Kong, 22 November 2005


NATURE'S FARM: Creditors Meeting Set Nov. 25
--------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), the Annual Meeting of the
Members and Creditors of Nature's Farm Products Limited (In
Liquidation) will be held at 18th Floor, Two International
Finance Centre, 8 Finance Street, Central, Hong Kong on November
25, 2005 at 11:00 a.m. for the purpose of receiving an account
of the liquidator's act and dealings and of the conduct of the
winding up of the company during the preceding year.

Dated this 18th day of November 2005

YEO BOON ANN
Joint and Several Liquidator


YUNHAN INVESTMENTS: Prepares to Shut Down Business
--------------------------------------------------
Yunhan Investments Limited, whose office address is located at
Rm 905 Seaview Commercial Building No 23 Connaught Road West
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 9, 2005.

Date of Presentation of Petition: September 8, 2005

Dated this 18th day of November 2005

ET O'Connell
Official Receiver


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

BHARAT PETROLEUM: Signals Interest in DTH
-----------------------------------------
The Board of Bharat Petroleum Corporation Ltd (BPCL) is expected
to discuss the proposal of launching a DTH TV platform before
March 2006, Television Point reports.

BPCL has been trying to garner more revenue from retail outlets
and other sources for sometime now. The proposed DTH TV platform
is inspired by similar ventures run by GAIL and Indian Railways.

BPCL Chairman and Managing Director A K Sinha is keen on
launching a DTH TV platform to manage BPCL's huge subsidy
burden. Presently, BPCL's subsidy burden on kerosene and LPG
alone amounts to INR30,000 crore - INR15,000 crore on kerosene
and the balance on LPG, besides aviation turbine fuel as well as
other products.

A source said, "BPCL already has a Ku band transponder on Insat
2E, which could be leveraged. However, there are factors such as
technology-related issues, content management and customer
management that would determine the DTH plan."

The DTH TV platform venture would be a source of revenue without
the risks of the petroleum business, the source said.

However, the board has its own concerns. BPCL would not have any
first mover advantage in a DTH market, which is already
dominated by seasoned players. Other concerns of the BPCL board
include the content management model as well as regulatory
issues in an era of convergence.

The board is reportedly reluctant about letting BPCL get into
content production, considering the fact that DTH TV players
produce content besides sourcing it from production houses.

CONTACT:

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


CEAT LIMITED: Sets Record Date for Issue of Equity Shares
---------------------------------------------------------
Ceat Ltd has informed the Exchange that the Company has fixed
December 09, 2005 as the Record Date for the purpose of issue of
equity shares of INR10/- each for cash at a premium of INR40/-
per share on rights basis in the ratio of 3 new equity shares
for every 10 equity shares of INR10/- each held on the Record
Date.

CONTACT:

Ceat Mahal
463 Dr. Annie Besant Road
Worli
Mumbai - 400030
Telephone: 22-24930621
Fax: 24935959/24606039


FOOD CORPORATION: Teams Up with Adani for Grain Management
----------------------------------------------------------
The Food Corporation of India (FCI) has welcomed private help in
handling, transportation and storage of foodgrains in bulk,
Business Standard reveals.

State-owned FCI has awarded a contract to the Adani Agri
Logistics Ltd. for creating the necessary facilities for
cleaning, drying, transportation and storage of foodgrains in
bulk in silos. This infrastructure will be created on the build-
own-operate (BOO) basis by the Adani firm.

The move is reportedly a part of FCI's efforts to improve
efficiency of India's grain management system.

Mechanized handling and storage of grains in bulk would help cut
down storage and transit losses besides minimizing the costs
incurred on weighing, bagging, stitching and handling of grain-
filled bags.

The proposed project would help save approximately INR150 crore
a year by eliminating unnecessary operations and losses.

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/


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

BHINNEKA MULTI: Likely to Fall into Bankruptcy
----------------------------------------------
State financing firm PT Bahana Pembinaan Usaha Indonesia (BPUI)
filed a bankruptcy claim against investment firm PT Bhinneka
Multi Corporation (BMC) due to its failure to pay debts, reports
the Jakarta Post.

According to BPUI, BMC has failed to pay its outstanding
IDR235.7 billion debt to the financing firm. It filed the
banruptcy petition with the Central Jakarta Commercial Court.

The court's panel of judges concluded its initial examination of
the case last Nov. 21, 2005, and are slated to deliver a verdict
on Nov. 30, 2005.

BMC sought out a working capital loan in 1997 from BPUI; in
2001, attempts were made to resolve the debt, with no results.


PERTAMINA: To Distribute Subsidized Fuel Until Dec. 31
------------------------------------------------------
The Indonesian government extended state-owned oil and gas firm
PT Pertamina's public service obligation (PSO) on domestic fuel
distribution until Dec. 31, 2005, Antara News reports.

According to Minister of Energy & Mineral Resources Purnomo
Yusgiantoro, Ministerial Decree no. 2043/2005 extended the
assignment, which was slated to expire on Nov. 24, 2005. Section
10 subsection 1 of the decree stipulates that the government
will extend Pertamina's authority to continue as a supplier and
distributor of subsidized fuel if no other company could fulfill
such qualifications.

This is a follow-up to Law No. 22/2001, which allowed local and
foreign private firms to distribute subsidized fuel in
Indonesia, thereby ending the Company's monoply on fuel
distribution.

Oil & Gas Downstream Business Regulatory Agency (BP Migas)
official Eri Purnomo said that Pertamina may continue to
distribute fuel unitl next year, whereas private firms would be
ready to do so only in 2007.

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: Insists on Joint Operation of Cepu Block
---------------------------------------------------
State oil firm PT Pertamina still wants to be a joint operator
in the development of the oil-rich Cepu block, reports Reuters
News.

Pertamina president Widya Purnama said that talks between the
Company and its partner, U.S.-based ExxonMobil Corp. are still
deadlocked on the issue, as it is firm by its stand to be a
joint operator, while ExxonMobil is also sticking to its demand
to be sole operator of the oil block.

ExxonMobil states that according to an agreement it signed with
a government-led negotiating team, it was the rightful operator
of the Cepu block.

The government has threatened to develop the Cepu block without
the cooperation of both firms, if they are unalbe to settle the
dispute by the end of the year.

It is estimated that the Cepu block would begin production in
2008 after an initial IDR20.07 trillion investment, but the
production date may be delayed if the dispute is not resolved.


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

NIKKO KANAYA: Ashikaga to Rescue Historic Hotel
-----------------------------------------------
Nikko Kanaya Hotel is expected to receive financial aid for
rehabilitation from Ashikaga Bank and other entities including
East Japan Railway Co., The Asahi Shimbun reports.

Ashikaga Bank plans to forgive several billion yen in loans to
the classic resort hotel.

According to the plan under negotiation, JR East and Tobu
Railway Co., both of which operate rail lines to Nikko, and
other companies, including Tokyo Electric Power Co., plan to
invest in the hotel.

In addition, funding will be sought from small-lot investors
through investment funds.

CONTACT:

Nikko Kanaya Hotel
1300, Kami-Hatsuishi-machi Tochigi
Nikko City
Japan


MITSUBISHI MOTORS: GHK Motors Awarded Brunei MINDEF Contract
------------------------------------------------------------
Goh Hock Kee Motors Sdn Bhd, dealer of Mitsubishi Motors in
Brunei, has been awarded the contract for the supply of double-
cab vehicles to the Ministry of Defence, Borneo Bulletin
reports.

The tender for supply of the vehicles was participated by all
major dealers in the Sultanate.

In the contract, GHK Motors will supply 60 units of Mitsubishi
L-200 Double-Cab 4x4 to the ministry.

To officiate the event, a signing ceremony between MINDEF
Finance and Procurement Department and GHK Motors was held at
Bolkiah Garrison yesterday morning.

Signing on behalf of MINDEF was Finance and Procurement
Director, Hjh Suriyah Hj Umar, while signing on behalf of GHK
Motors was its Managing Director, Pehin Goh King Chin.

CONTACT:

GHK Motors Sdn Bhd
Komplex Perindustrian Beribi II, Km 7, Gadong,
Bandar Seri Begawan,
Brunei Darussalam.
Tel: (6732) 423423, 420882, 466188,
Fax: (6732) 426295


SANYO ELECTRIC: R&I Downgrades Rating to BBB
--------------------------------------------
Rating and Investment Information, Inc. (R&I) has downgraded the
following ratings of Sanyo Electric Credit Co. to BBB and a-2
from A and a-1, and also has placed them on the Rating Monitor
scheme, with a view to downgrading.

RATIONALE:

On November 18, Sanyo Electric Credit Co., Ltd. announced a net
loss of JPY11.4 billion on a consolidated basis in its interim
result ending in September 2005 (the initial projection was 3.4
billion yen in net profit). Simultaneously, it has made a
downward revision for the year ending in March 2006 with the
projection of net losses at JPY7.5 billion (the former
projection was JPY7.0 billion in net profit). This was mainly
due to the increase in allowances following the revision of
asset contents and the implementation of fixed asset impairment
write offs.

In the past, R&I indicated that attention needed to be paid to
trends in the company's existing large lot borrowers.
Subsequently, deterioration in results of a number of these
borrowers resulted in an increase in risk beyond expectation.
The failure of risk management to function appropriately
resulted in a delay in the recognition of risk, which in turn
resulted in Sanyo Electric Credit's delay in making financial
arrangements and necessitated an urgent review of the risk
management system. Although business relationship between Sanyo
Electric Credit and its parent company, Sanyo Electric Co.,
Ltd., is scarce, it is difficult to ignore the negative impact
of the parent's declining credit quality.

R&I believes that the increase in financial reserves for large
lot customers will result in progress in financial arrangements
for large lot problem borrowers, but further verification of
remaining risk is necessary. Sanyo Electric Credit is presently
taking steps to tighten group company management through
organizational reform and other measures and is putting in place
a risk management system with guidelines for the management of
large lot borrowers. However, it is not easy to establish a
highly efficient risk management system to control credit
arrangements that are already in operation. It is also necessary
to determine the impact the decline in creditworthiness
accompanying the worsening performance of parent company Sanyo
Electric will have on business developments and the fundraising
base of Sanyo Electric Credit.

Therefore, R&I have downgraded the ratings for Sanyo Electric
Credit to BBB and a-2, and has remained the rating on the Rating
Monitor with a view to downgrading. R&I will announce a new
rating following the next review.

ISSUE: Preliminary Rating for the Shelf Registration scheme

Bonds to be Rated: Corporate Bonds
Issue Amount: Yen 100,000 million (Shelf Amount)
Issue Period: Two years from Dec 28, 2003

LONG-TERM ISSUE RATING: Issue Date Redemption Issue Amount (mn)

Unsec. Str. Bonds No. 6 Nov 22, 1999 Nov 22, 2006 Yen 5,000
Unsec. Str. Bonds No. 7 Nov 22, 1999 Nov 22, 2006 Yen 5,000
Unsec. Str. Bonds No. 8 Mar 03, 2000 Mar 03, 2010 Yen 15,000
Unsec. Str. Bonds No. 11 Mar 25, 2004 Mar 25, 2009 Yen 10,000

CONTACT:

Rating and Investment Information, Inc.
Nihonbashi 1-chome Bldg.
1-4-1, Nihonbashi, Chuo-ku, Tokyo
103-0027, Japan
Credit Rating Division
Phone: 03-3276-3419
Fax: 03-3276-3420
Web site: http://www.r-i.co.jp


SANYO ELECTRIC: S&P Downgrades Rating to 'BB'
---------------------------------------------
Standard & Poor's Ratings Services has lowered its long-term
corporate credit rating to 'BB' from 'BBB-' on Sanyo Electric
Co. Ltd., and its rating on Sanyo Electric's long-term senior
unsecured debt to 'BB+' from 'BBB-'.

The ratings remain on CreditWatch with negative implications
where they were placed on Sept. 28, 2005, following Sanyo
Electric's downward revision of its profit forecast for 2005.

Many of the measures unveiled in Sanyo Electric's restructuring
plan released on November 18 are still being negotiated. As a
result, the plan failed to clear uncertainty over the
probability of a recovery in earnings. In addition, the company
might pay additional restructuring costs as the restructuring
plan proceeds.

"Even assuming some increase in capital, we are concerned that
Sanyo Electric will not be able to restore and stabilize its
financial profile, considering the possibility of prolonged
stagnant earnings and further restructuring costs," said
Standard & Poor's credit analyst Katsuyuki Nakai.

If a capital injection is not conducted, the ratio of net debt
to capital will deteriorate to over 85%. However, even if ¯300
billion in the form of common equity is injected, the ratio will
improve to just over 60%, which is almost the same as that in
fiscal 2004 (ended March 31, 2005). Furthermore, the company is
unlikely to achieve its total debt reduction target of ¯600
billion, and the majority of any drop in debt would likely have
to be accomplished from nonconsolidation of its financial
subsidiary.

At the same time, the rating on the long-term senior unsecured
debt issued by Sanyo Electric was lowered by only one notch and
is now higher than the company's issuer rating. The rating on
the senior unsecured debt reflects the likelihood of debt
forgiveness by its major creditor bank in the case of a default,
taking into account the bank's supportive stance. This
supportive stance is indicated by the appointment of the bank's
managing director to vice president at Sanyo Electric, and its
response to Sanyo Electric's capital increase plan.

The CreditWatch listing will be resolved after completion of a
review of Sanyo Electric's prospects for recovery in its
earnings and financial profile. The focal points of this review
are:

  -- The feasibility and expected results of further
restructuring in audio-visual equipment, semiconductors, and
consumer products;

  -- The details of the plan to raise capital;

  -- Negotiation of the sale of a financial subsidiary and the
impact on earnings and financial profile;

  -- The schedule and plan to finance debt reduction; and

  -- The feasibility of the plan to increase profits for core
businesses, including car audio-visual equipment and mobile
phones, which have very competitive markets.

Any further delay in restructuring could put downward pressure
on the ratings on Sanyo Electric. A future downgrade could be by
more than one notch if Standard & Poor's determines that it
would be difficult for the company to maintain an appropriate
business or financial profile for the rating.

Currently, Sanyo Electric is not expected to increase its
capital through a debt-for-equity swap. If a debt-for-equity
swap is included in the capital increase plan, a rating of 'SD'
(Selective Default) would be assigned to Sanyo Electric.

Ratings Lowered
                          To               From
Sanyo Electric Co. Ltd.
Corporate credit rating  BB/Watch Neg/--  BBB-/Watch Neg/--
Senior unsecured debt    BB+/Watch Neg    BBB-/Watch Neg

CONTACT:

Sanyo Electric Co Ltd
5-5 Keihan-Hondori 2-Chome
Moriguchi 570-8677, Osaka 570-8677
JAPAN
Phone: +81 6 6991 1181
Fax: +81 6 6991 6566
Web site: http://www.sanyo.co.jp/koho/index_e.html


SANYO CANADA: Reveals 7,000:1 Contrast LCD Theatre Projector
------------------------------------------------------------
Sanyo Canada has announced the PLV-Z4 LCD home theatre
projector, offering what it deems to be the highest contrast
ratio for LCD projectors currently on the market at 7,000:1.
Also offering the first twin-iris system, it features a range of
lumens output to match various viewing situations.

With 1,280 x 780 resolution (three 0.7'' LCD panels), the PLV-Z4
has 1,000 ANSI lumens brightness; a 2x manual zoom lens enabling
a 254 cm, 16:9 image a throw range of 2.4 to 9.2m; 145 Watt UHP
lamp; long range vertical and horizontal lens shift controls;
six pre-calibrated colour temperature settings; six pre-
programmed operating modes; four memory settings; and on-board
colour management.

An LCD panel adjustment eliminates vertical banding, while an
auto-closing front panel eliminates the need for a lens cap.  It
incorporates a cleaning system that includes an electrostatic
air filter and separate blower; and auto-shut down. Fan noise
generates 26dB in normal mode, and 22dB in economic mode.
Inputs include component video, S-video, composite video, and
HDMI.

Featuring silver finish, the PLV-Z4 sports a footprint of 38.2 x
12.7 x 30.4 cm (w/h/d) and weighs 5 kg.  Shipping with a three-
year warranty, it will be available in late November for an MSRP
of $3,400.

CONTACT:

Sanyo Canada Inc.
300 Applewood Cres. Concord
Ontario L4K 5C7
Telephone (reception): (905) 760-9944
Fax (reception): (905) 760-9945
Web site: www.sanyocanada.com


SOJITZ CORPORATION: JCR Assigns BBB- Rating
-------------------------------------------
Japan Credit Rating Agency (JCR) has assigned a BBB- rating to
the bonds of Sojitz Corporation.

Sojitz Corporation has improved the financial structures and
quality of assets, disposing of the money-losing assets in
accordance with the new business plan and issuing preferred
shares. However, there remain some unprofitable operations. Such
operations will continue their operations to be examined on its
feasibility. They may incur additional loss, though the amount
will not be large.

The operating performance has been going well, supported by rise
in prices of energies and metals. The Company plans to make
investments in new businesses to strengthen the earnings base.
JCR deems it necessary to watch carefully the future
developments as to whether the Company can keep on increasing
the earnings while enhancing risk management.

There also remains issue on quality of the capital, which
consists of preferred shares issued to lenders for debt-for-
equity swaps. It plans to repurchase and extinguish the 1st
series class I preferred shares in the current fiscal year.
Sojitz plans to keep the current level of capital. It will
repurchase the preferred shares using the periodic earnings to
prevent dilution of the common stocks due to conversion of these
preferred shares into common stocks in and after next fiscal
year.

The Company is required to retain the current level of earnings
stably for this purpose.

CONTACT:

Sojitz Holdings Corporation
1-20 Akasaka 6-chome, Minato-ku
Tokyo 107-8655, Japan
Phone: +81-3-5446-3600
Fax: +81-3-5446-1542


* Japanese Electronics Firms Struggle to Survive
------------------------------------------------
Two Japanese electronics manufacturing are struggling to survive
competition from low-cost consumer electronics manufacturers,
according to Personal Computer World.

Pioneer Corporation and Sanyo Electric Company are facing
harshly declining profits from former cash cows, and are looking
to cutbacks and management changes for a solution.

Facing low-cost competitors elsewhere in Asia, Japanese
electronics giants are no longer able to profit from some of the
innovative technology that they developed in the past, according
to analysts.

Analysts have suggested that Pioneer must outsource more of its
older technology to low-cost manufacturers in Taiwan, Korea and
China.

Sanyo, meanwhile, has been troubled by big losses in its home
appliance division and has seen a slump in once healthy sales of
digital cameras and mobile phones.


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

DAEWOO ENGINEERING: Up for Sale Next Year
-----------------------------------------
Creditors of Daewoo Engineering & Construction Co. are planning
to invite bids this week for their controlling stake in the
company, according to Yonhap News Agency.

Around a 50- to 72-percent stake will be up for sale by the
first half of next year, Korea Asset Management Corp., which
holds a 44 interest in the company said.

A due diligence has been done on the assets and debts of Daewoo
Engineering in August.  Citi Global Market Securities and
Samsung Securities are co-lead managers for the sale.

Daewoo Engineering reported a surge in net profit of 141.4
percent from a year ago to KRW113.49 billion.  Operating profit
jumped 59.3 percent to KRW99.57 billion, while sales rose 8.8
percent to KRW1.21 trillion.

CONTACT:

Daewoo Engineering and Construction
South Korea
Phone: 82 2 2288 5140
Fax: 82 2 2288 3113
Web: http://www.dwconst.co.kr


DAEWOO PRECISION: Creditors to Conclude Sale This Month
-------------------------------------------------------
Daewoo Precision Industries Co. is set to sign a contract this
month to sell the Company to preferred bidder Hyosung Corp.,
Yonhap News Agency reveals, citing creditors Wednesday.

Upon finalization of the contract this month, the sale will be
wrapped up once the creditors gain approval for the sale from
the Ministry of Commerce, a Korea Asset Management Corp. (KAMCO)
official said.

The shares to be sold consist of 4.9 million common shares and
2.8 million preferred shares out of a total of 12.4 million
shares in the company.  Creditors are in last-minute talks with
Hyosung over the sale price, KAMCO said.

Creditors, including KAMCO and Woori Bank, have been pushing to
sell a controlling stake in the former arm of the now-defunct
Daewoo Group to the textile manufacturer Hyosung since they
picked the preferred bidder in July.

Daewoo Precision was separated from Daewoo Group in 2002, which
collapsed in 1999 bearing US$80 billion in debts.

CONTACT:

Daewoo Precision Industries, Ltd.
5, Songjong-Ri, Cholma-Myon
Gijang-Gun, Pusan-Shi 626-875
Korea (South)
Telephone: +82 51 5092114
Fax: +82 51 5083339


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

BELL & ORDER: Determines Price of Rights Issue
----------------------------------------------
Bell & Order Berhad (B&O) issued to Bursa Malaysia Securities
Berhad details of the renounceable rights issue of 57,552,000
new ordinary shares of MYR1.00 each in B&O (Rights Shares) at an
issue price of MYR1.20 per rights share payable in full upon
acceptance on the basis of three (3) rights shares for every one
(1) existing ordinary share of MYR1.00 each (B&O Share) held in
B&O at 5:00 p.m. on December 1, 2005 (Rights Issue).

On behalf of the Board of Directors of B&O, Avenue Securities
Sdn Bhd (Avenue) advised the following:

(1) Price Fixing

The Board of Directors of the Company has determined the issue
price for the Rights Issue at MYR1.20 per Rights Share.
The issue price of MYR1.20 per Rights Share was arrived at after
taking into consideration the theoretical ex-rights price of
MYR1.48, calculated based on the five (5) day weighted average
market price of B&O Shares of MYR2.30 ending January 5, 2005,
being the last practicable date prior to the announcement of the
Rights Issue on January 7, 2005. The issue price of MYR1.20 per
Rights Share represents a discount of MYR0.28 or 18.9 percent
from the abovementioned theoretical ex-rights price.

(2) Underwriting Agreement

B&O had, on November 22, 2005, entered into an underwriting
agreement with three (3) co-underwriters namely, Avenue, RHB
Sakura Merchant Bankers Berhad and Aseambankers Malaysia Berhad
for the underwriting of 57,552,000 Rights Shares representing
100 percent of the total Rights Shares to be issued pursuant to
the Rights Issue.

This announcement is dated 22 November 2005.

CONTACT:

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


BELL & ORDER: Unit Served with Winding Up Petition
--------------------------------------------------
Bell & Order Berhad (B&O) issued to Bursa Malaysia Securities
Berhad details of the Petition on Winding Up served on Bell &
Order Engineering Pte Ltd (BOE).

The Board of Directors of B&O informed the Exchange that its
wholly owned subsidiary, BOE has been served a winding up
petition by Foong Yeap (NRIC No. S2506015F) and Ee Bee Yen (NRIC
No. S1349167D) (the Petitioners) in the High Court of the
Republic of Singapore, in the matter of Part X of the Companies
Act, Chapter 50 (1994 Revised Edition).

The winding up petition was received by B&O on November 18,
2005. The Petitioners have claimed a sum of SGD106,468.24 being
the amount of indebtedness of SGD105,128.12 owing by BOE to
United Overseas Bank (UOB) and legal cost of SGD1,340.12 paid by
the Petitioners. UOB granted advances or loans or otherwise give
credit to BOE. The Petitioners executed a continuing guarantee
on February 18, 1994 guaranteeing the indebtedness of BOE up to
a sum of SGD$350,000 (the Guarantee).

By a certificate of account dated May 11, 2005, UOB certified
(pursuant to clause 27 of the Guarantee) that there is a sum of
SGD105,128.12 due and owing from BOE to UOB as at March 17,
2005. UOB instructed their solicitors M/s Lee and Lee to make a
demand against the Petitioners on the Guarantee for the said sum
of SGD105,128.12 and legal costs of SGD1,340.12, totaling
SGD106,468.24. On or about June 23, 2005, the Petitioners paid
to M/s Lee and Lee the sum of SGD106,468.24.

BOE received a letter dated October 19, 2005 from M/s Yeo Wee
Kiong Law Corporation, the solicitors representing the
Petitioners, demanding immediate payment of the sum
SGD105,128.12 and legal cost of SGD1,340.12, being payment made
by the Petitioners to UOB pursuant to the continuing guarantee
dated February 18, 1994.

In B&O's financial statement for the financial year ended
December 31, 2004, the amount of B&O's investment in BOE has
been fully provided. BOE has also ceased operations and
therefore the petition is not expected to have any material
financial and operational impact to the Company.

The Company does not intend to oppose the winding-up petition.

This announcement is dated 22 November 2005.


FURQAN BUSINESS: Bourse to Suspend Warrant Trading
--------------------------------------------------
Furqan Business Organisation Berhad advised Bursa Malaysia
Securities Berhad of the following:

(i) FBO's Warrants will expire at 5:00 p.m., on Monday, December
19, 2005.

(ii) Trading in FBO's Warrants will be suspended with effect
from 9:00 a.m., Friday, December 2, 2005 in order to facilitate
the final exercise of the Warrants.

(iii) FBO's Warrants will be removed from the Official List of
Bursa Securities with effect from 9:00 a.m., Tuesday, December
20, 2005.

Your attention is drawn to FBO's Notice to Holders of Warrants
2002/2005 dated November 18, 2005.

CONTACT:

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


MAGNUM CORPORATION: Issues New Shares for Listing
-------------------------------------------------
Magnum Corporation Berhad advised that its additional 50,000 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., Thursday, November 24, 2005.

CONTACT:

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


MAGNUM CORPORATION: Buys Back Ordinary Shares
---------------------------------------------
Magnum Corporation Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:

Date of buy back: November 22, 2005

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

Total number of shares purchased (units): 333,000

Minimum price paid for each share purchased (MYR): 1.860

Maximum price paid for each share purchased (MYR): 1.910

Total consideration paid (MYR):

Number of shares purchased retained in treasury (units): 333,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 76,111,400

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


MANGIUM INDUSTRIES: Unit Fails to Pay Dues
------------------------------------------
Mangium Industries Berhad (MIB) advised Bursa Malaysia
Securities Berhad that its wholly owned subsidiary, Mangium
Sawmill Sdn Bhd (MSSB) has not paid, and is deemed to have
defaulted in its repayments on facilities granted by Standard
Chartered Bank Malaysia Berhad (SCB) and Southern Bank Berhad
(SBB), which are unsecured.

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

To view a full copy of Table 1, go to
http://bankrupt.com/misc/MangiumIndustries112205.doc

(A) Reason for default in payments

Due to the unfavorable timber market and depressed prices for
timber and timber related products throughout Asia since the
financial crisis in the year 1997, many of the Group's buyers
were adversely affected and are facing financial difficulties
leading to their inability to settle their outstanding balances
despite efforts made by the management to collect these
outstanding debts with the Group. As a result, the cashflow
generated from operations was not sufficient to service the
interest and principal obligations to the lenders as and when
they fell due.

(B) Measures by the listed issuer to address the default in
payments

Both SCB and SBB have agreed to the Proposed Debt Settlement &
Restructuring Scheme announced by MIB on December 22, 2003.

(C) Financial and legal implications in respect of the default
in payments including the extent of the listed issuer's
liability in respect of the obligations incurred under the
agreements for the indebtedness

The estimated total outstanding as at October 31, 2005, in
relation to the payments, which are in default and are the
subject matter of this announcement amounts to MYR14,611,307.91.

Since MIB is the guarantor for these loans, MIB is liable for
the full amount and any further interest and financial cost
levied there or until the settlement of these debts.

(D) In the event the default is in respect of secured loan
stocks or bonds, the lines of action available to the guarantors
or security holders against the listed issuer

Not applicable.

(E) In the event the default is in respect of payments under a
debenture, to specify whether the default will empower the
debenture holder to appoint a receiver or receiver and manager

Not applicable.

(F) Whether the default in payment constitutes an event of
default under a different agreement for indebtedness (cross
default) and the details thereof, where applicable

The facilities listed above represent the borrowings of the
MIB's wholly owned subsidiary, MSSB, and as a result of their
default, the remaining facilities granted by other lenders to
MSSB are all technically in default by virtue of the "Cross
Default" clauses in the Letter of Offers.

However, the lenders have kept in view further legal action
other than those, which have been disclosed in our Annual Report
and Announcements, since MIB is in active negotiations with them
to normalize and regularize the accounts.

FILE FOR UPLOAD

CONTACT:

Mangium Industries Berhad
Suite 19.06, 19th Floor,
Menara MAA, No. 12,
Jalan Dewan Bahasa,
50460 Kuala Lumpur
Telephone: 603-2145 1880
Fax: 603-2143 1880


MEDIA PRIMA: Unveils Outstanding Terms of EB Issue
--------------------------------------------------
Media Prima Berhad (MPB) issued to Bursa Malaysia Securities
Berhad details of the issue of MYR85,000,000 Nominal Value five
(5)-year exchangeable bonds (EB) (EB Issue)

The company refers to the announcements dated July 4, 2005 and
October 7, 2005 in relation to the EB Issue.

Commerce International Merchant Bankers Berhad (CIMB), on behalf
of the Board of Directors of MPB, advised that the outstanding
terms of the EB have been finalized and are as set out in Table
1.

To view a full copy of Table 1, go to
http://bankrupt.com/misc/MediaPrima112205.doc

This announcement is dated 22 November 2005.

CONTACT:

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


NALURI CORPORATION: EGM Slated for Dec. 20
------------------------------------------
Naluri Corporation Berhad (Naluri) issued to Bursa Malaysia
Securities Berhad the following proposals:

(I) Proposed share buy-back scheme to purchase our own shares of
up to 10 percent of our issued and paid-up share capital
(proposed share buy-back);

(II) Proposed amendments to the objects in our memorandum of
association and adoption of new articles of association; and

(III) Proposed exemption to Atlan Properties Sdn Bhd (APSB) and
parties acting in concert with APSB (PAC) from the obligation to
undertake mandatory offer(s) to acquire all the remaining
ordinary shares of MYR1.00 each in Naluri not already owned by
APSB and PAC upon the purchase by us of our own ordinary shares
pursuant to the proposed share buy-back under Practice Note
2.9.10 OF the Malaysian Code on takeovers and mergers, 1998.

On behalf of Naluri, Commerce International Merchant Bankers
Berhad advised that notice is hereby given that an Extraordinary
General Meeting (EGM) will be held at Ballrooms 1 and 2, Level
2, Hotel Nikko Kuala Lumpur, 165 Jalan Ampang, 50450 Kuala
Lumpur on Tuesday, December 20, 2005 at 11:00 a.m. or any
adjournment thereof, for the purpose of considering and if
thought fit, passing the resolutions pertaining to the above-
mentioned proposals, with or without modifications as shall be
determined upon at the meeting.

To view a full copy of the Notice of EGM, go to
http://bankrupt.com/misc/NaluriCorpNoticeofEGM112205.doc

This announcement is dated 22 November 2005.

CONTACT:

Naluri Berhad
161B Jalan Ampang
50450 Kuala Lumpur, 50450
Malaysia
Telephone: +60 3 2162 0878 / +60 3 2162 0676


PACIFIC & ORIENT: Bourse to List, Quote New Shares
--------------------------------------------------
Pacific & Orient Berhad advised that its additional 13,000 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.,
Thursday, November 24, 2005.

CONTACT:

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


POLYMATE HOLDINGS: Parties Agree to Revoke SPA
----------------------------------------------
Reference is made to Polymate Holdings Berhad's (Polymate)
announcement made to Bursa Malaysia Securities Berhad on
September 22, 2005 relating to the entry to the Sale and
Purchase Agreement (SPA) by ABI Malaysia Sdn Bhd (ABI Malaysia),
a wholly owned subsidiary of Polymate with Lo Ling (Purchaser)
for the disposal of one piece of freehold industrial land
together with a double storey warehouse cum office block erected
thereon and bearing postal address known as Lot 142, Jalan
Industri 2/4, Taman Industri Integrasi Rawang, 48000 Rawang,
Selangor by ABI Malaysia.

The Company advised that ABI Malaysia and the Purchaser have on
November 22, 2005 mutually agreed to revoke the SPA and hence,
on same date entered into a Deed of Revocation of the SPA.

The deposit of MYR650,000-00 duly paid by the Purchaser shall be
refunded by ABI Malaysia to the Purchaser and the SPA shall be
of no further effect and neither party shall have any further
claims, actions or proceedings against the other in respect of
or arising out of the SPA.


SIME DARBY: Unit to Undergo Wind Up Process
-------------------------------------------
Sime Darby Berhad (Sime Darby) advised Bursa Malaysia Securities
Berhad that its subsidiary company, Rising Paper Products
Private Limited (RPP) has held an Extraordinary General Meeting
on November 21, 2005 at which it was resolved that RPP be wound-
up voluntarily.

The shareholders of RPP also approved the appointment of Mr.
Phua Thye Hin and Ms Chua Sock Hwee as Liquidators of RPP. RPP
is a 66.67 percent-owned subsidiary of Orchard Nominees Private
Limited, a wholly owned subsidiary of Sime Darby. RPP was
involved in property investment activities until the cessation
of its operations in September 2005.

The voluntary liquidation of RPP is not expected to have any
material effect on the earnings and net tangible assets of the
Sime Darby Group for the financial period ending 30 June 2006.
None of the directors or substantial shareholders of Sime Darby
or persons connected to them has any interest in the voluntary
liquidation.

This announcement is dated 22 November 2005.


SUNWAY INFRASTRUCTURE: Incurs Net Loss in 3Q/FY05
-------------------------------------------------
Sunway Infrastructure Berhad issued to Bursa Malaysia Securities
Berhad a copy of its Third Quarter financial 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

    6,310          3,652          17,241         3,683

(2) Profit/(loss) before tax

    -18,295        -16,366         -56,002       -21,402

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

    -18,299        -14,966         -56,014       -20,007

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

    -18,299        -14,966         -56,014       -20,007

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

    -10.17           -8.30          -31.12      -11.11

(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)

        0.5800                     0.8900

To view a full copy of the financial statement, go to
http://bankrupt.com/misc/SunwayInfrastructure112105.xls

To view a full copy of the notes to FS, go to
http://bankrupt.com/misc/SunwayInfrastructureNotestoFS112105.doc


SUREMAX GROUP: Net Loss Down to MYR4,426,000 in 4Q/FY05
-------------------------------------------------------
Suremax Group Berhad submitted to Bursa Malaysia Securities
Berhad a copy of its Fourth Quarter financial report for the
financial period ended August 31, 2005.

Summary of Key Financial Information
August 31, 2005

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

(1) Revenue

    10,932        8,186           22,451         26,610

(2) Profit/(loss) before tax

    -4,426        -44,353         -7,501         -49,909

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

    -4,426        -44,361         -7,508         -49,990

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

    -4,426        -44,361         -7,508         -49,990

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

    -6.71          -67.21         -11.37         -75.74

(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)

        0.4300                     0.5400

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

To view a full copy of the notes to FS, go to
http://bankrupt.com/misc/SuremaxGroup112205.doc

CONTACT:

Suremax Group Bhd
No. 7-1, Faber Imperial Court,
Sheraton Imperial Hotel,
Jalan Sultan Ismail,
Kuala Lumpur Wilayah
Persekutuan 50250
Malaysia
Telephone: 03-76606080
Fax: 03-76606090


TENCO BERHAD: Results Swing to Black in 2Q/FY05
-----------------------------------------------
Tenco Berhad furnished Bursa Malaysia Securities Berhad a copy
of its Second 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

    15,527         15,332          31,477        30,684

(2) Profit/(loss) before tax

    63             -418             30           -353

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

    30             -418            -60           -353

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

    30             -418            -60           -353

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

    0.06           -0.80           -0.11         -0.68

(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)

     0.0112                     0.0095

To view a full copy of the financial statement, go to
http://bankrupt.com/misc/TencoBerhadQ22006.xls

To view a full copy of the notes to FS, click
http://bankrupt.com/misc/TencoBerhad112205.doc

CONTACT:

Tenco Berhad
No. 5, Jalan Pelabur 23/1
40000 Shah Alam, Selangor
Malaysia
Phone: (60) 3 541 0612
Fax: (60) 3 541 0132


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

COLLEGE ASSURANCE: Rebuts Planholders' Claims
---------------------------------------------
College Assurance Plan Philippines Inc. (CAP) ensured
planholders they will be given top priority in payments right
after the pre-need firm's rehabilitation petition is approved,
according to The Manila Times.

CAP issued the statement after disgruntled planholders filed a
rejoinder before a local court hearing the company's
rehabilitation petition. The planholders claimed that CAP's
rehabilitation program ignored their interests.

In a joint petition, plan holders Allan E. de la Cerna and
Emilia J. Imperial earlier said the company's rehabilitation
plan "did not show or provide payment of its liabilities to plan
holders."

CONTACT:

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


GLOBAL STEELWORKS: Creditors Formally Waive Default Call
--------------------------------------------------------
Majority of Global Steelworks International's creditors have
agreed to scrap its default declaration against the company's
Indian owner, Global Ispat Holdings Inc., The Philippine Star
has learned.

The decision was reached after the Global Steelworks (formerly
National Steel Corporation) agrees to issue another Php250
million (US$4.5 million) letter of credit (L/C) to secure its
next loan payment. The creditor banks will issue the waiver once
Global Steel submits the US$4.5-million L/C.

Global Steelworks was declared in default by the banks last
month after it tried to partially prepay its October 2006 loan
without issuing an additional L/C to secure the remaining
payment.

The steel firm was considered "technically in default and its
remaining loan of Php12.5 billion due and demandable" following
its attempt last Oct. 15 to issue a Php250-million or US$4.5-
million L/C guarantee for its Oct. 15, 2006 loan payment of
Php500 million or US$9 million.

The banks had to call Global Steelworks in default first to
collect on the L/C it issued. However, Global Steel negotiated
with the creditor banks to issue another L/C for US$4.5 million
in exchange for a waiver of non-default.

The creditors had informed the firm of their decision to lift
the default declaration last Friday, Nov. 18.

CONTACT:

Global Steelworks International (SPV-AMC), Inc.
Suarez, 9200 Iligan City
Philippines
Telephone: 063-221-2663
Fax: 063-492-2566


NATIONAL POWER: Zero-coupon Bonds Yield 9.875%
----------------------------------------------
National Power Corporation's (Napocor) zero-coupon bonds issue
on Wednesday was deemed a success, according to BusinessWorld.

Investors snapped up Php11 billion worth of the Napocor bonds,
ensuring that the state-run power firm meets all its cash
obligations for this year.

Napocor accepted a yield-to-maturity rate of 9.875 percent for
the seven-year bonds.

Power Sector Assets and Liabilities Management Corp. (PSALM)
president Nieves L. Osorio said the agency is happy with the
results even if the yield is much lower than forecast.

The long-term fixed rated bonds were sold through the Bureau of
Treasury. The auction was oversubscribed with banks wanting to
buy as much as Php14.723 billion worth of zeroes against a
Php11-billion public offering.

Napocor received only Php5.6-billion cash but will pay Php11
billion at maturity.

Proceeds of the bonds, which will mature in 2012 and guaranteed
by the government, will be used to pay for the debt-saddled
power firm's maturing obligations, capital expenditures, and
general funding requirements.

Meanwhile, The Philippine Star reported Napocor is expected to
break-even this year.

Ms. Osorio said Napocor will improve in its performance in 2005
as a result pf the adjustment in power tariffs as well as
improvements in world oil prices and the peso-dollar exchange
rate.

The PSALM head added Napocor would be able to use only P5.6
billion of the net proceeds for plant operation and other
capital expense.

"At least we have raised everything we need for 2005."

So far, the power firm has raised the equivalent of AU$600
million from foreign and domestic borrowing this year. About
AU$400 million came from foreign sources while the rest came
from the domestic market.

CONTACT:

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


NATIONAL POWER: Geothermal Assets First to Go in Privatization
--------------------------------------------------------------
National Power Corporation's (Napocor) geothermal assets are
expected to be divested first in the privatization of the
country's power sector, The Manila Bulletin reveals.

With these assets primarily linked to the proposed divestment
plan of the Philippine National Oil Company-Energy Development
Corporation (PNOC-EDC), it was noted that most of the issues
concerning the geothermal facilities are already being hammered
out with the Joint Congressional Power Commission.

In its last meeting, the JCPC has told the Power Sector Assets
and Liabilities Management Corporation (PSALM) to review its
priorities on asset sale; and the geothermal facilities were the
once proposed to be divested first.

The completion of the geothermal assets' disposal will ease
PSALM's dilemma over the need to fast-track Napocor's
privatization.

Earlier, PSALM committed to privatize at least 70 percent of the
Napocor's assets by first quarter of 2006 so that the industry
would be able to jumpstart open access.

However, most of the assets it earlier placed on the bidding
block are now facing delays; with the sale of the 600-megawatt
Calaca coal-fired power facility even deferred indefinitely.


SWIFT FOODS: Director Tenders Resignation
-----------------------------------------
Swift Foods Inc. advised that Mr. Eleuterio D. Coronel, in his
letter dated 21 November 2005, tendered his resignation as
Director of the Corporation due to time constraints from his
work as President of Philippine Townships, Inc.

The TCR-AP reported early this week that Swift Foods managed to
cut its net loss in the third quarter this year due to cost-cuts
and improved efficiencies.

The loss-making firm bled Php10 million in the third quarter to
September, significantly lower than the loss of Php89 million
recorded in the same period last year.

Swift Foods sells processed and canned meat products, poultry
products, and commercial feeds.

CONTACT:

SWIFT FOODS, INC.
Pioneer Corner Sheridan Streets
RFM Corporate Center
Mandaluyong City 1603
Philippines
Phone: +63 2 631 8101
Fax: +63 2 631 5064
Web site: http://www.rfm.com.ph/


VITARICH CORPORATION: Net Losses Dip on Lower Cost, Expenses
------------------------------------------------------------
Vitarich Corp. narrowed its losses despite weaker sales in the
nine months to September as costs and expenses fell,
BusinessWorld reports.

The firm, a listed integrated producer and wholesaler of poultry
and animal feed products, saw its net losses fall 90.35 percent
to Php12.81 million from Php132.76 million a year ago
as it realized a Php41.31-milion income from operations. The
result is a reversal from Php62.56 million in operational losses
a year ago.

Cost and expenses for January to September improved to Php2.4
billion from Php3.35 billion. For the quarter, it contracted to
Php673.37 million from Php1.26 billion as the firm adopted
measures to lower the level of operating expenses.

In a filing, Vitarich said quarterly losses fell 72.7 percent to
Php17.08 million from Php62.56 million as loss from operations
dropped 96.2 percent to Php1.49 million from Php39.16 million.

Nine-month revenues went down to Php2.44 billion from Php3.29
billion. Quarterly revenues slipped to Php671.87 million from
Php1.22 billion.

However, average selling price improved as compared to last
year. As of September, sales volume for the foods division
dropped 42 percent from 2004 as a result of the company's
direction to focus on its feeds business.

"The feeds business has been affected by high foreign exchange
rate resulting in the increase in the price of imported raw
materials. However, animal feeds and aqua sales volume was
sustained in the third quarter of this year. Despite the poor
market condition and stiff competition, our feeds business is
steadily improving its margins and its turnover as well," the
company said.

CONTACT:

Vitarich Corporation
(Corporate Headquarters)
Mac Arthur Highway, Abangan Sur Marilao, Bulacan
Phone: (02) 843-3033
Fax: (02) 843-0297
Web site: http://www.vitarich.com/


* Fitch Says RP Banks' Financial Strength Hurt by Weak Profits
--------------------------------------------------------------
Fitch Ratings said that the financial strength of Philippine
banks remains constrained within a difficult operating
environment as credit demand continues to stagnate, despite
consolidation and higher capital requirements imposed on all
banks in the wake of the 1997 financial crisis.

This is compounded by concerns over the prolonged fiscal deficit
as well as persistent political uncertainty. The agency adds
that the banking sector as a whole remains quite weak and
fragmented.

In addition, while the central bank has implemented several
reform initiatives to improve regulatory oversight and reduce
banking risks, its enforcement capabilities continue to be
hampered in a sector dominated by large domestic banks majority-
owned by prominent Filipino business families wielding
significant political influence.

In its just-published report on the Philippines' banking system,
Fitch says recent M&A transactions amongst some of the bigger
banks have compounded this problem, consolidating control of the
banking system even more within this small group of private
interests. That said, the efficiency gains to arise out of such
consolidation are welcome.

The report also notes developments in the banks' asset quality,
highlighting the limited success and flaws of the SPV Act, which
was enacted to address the system's high level of bad loans that
until today, continues to undermine the profitability and
financial strength of the Philippine banks.

The report goes on to examine the accounting practices,
structure, and the performance of the banking sector in terms of
balance sheet growth, profitability and capital adequacy. It
concludes with a comprehensive review of the significant strides
made by the Philippine Deposit Insurance Corporation in
strengthening the country's deposit insurance regime, as well as
recent developments and challenges facing the Philippine capital
markets.


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

ACCORD CUSTOMER: COO Tenders Resignation
----------------------------------------
Accord Customer Care Solutions Limited (ACCS) announces that its
Chief Operating Officer, Edmund Yong Kin Kwong, resigned from
his position on Nov. 18, 2005.

ACCS appreciates Mr. Yong's services to the Company.

By Order of the Board
Woo Kah Wai
Company Secretary

Nov. 18, 2005

CONTACT:

Accord Customer Care Solutions Limited
20 Toh Guan Road #07-00
Accord District Center
Singapore 608839
Phone: 65 6410 2600
Fax:   65 6410 2610
Web site: http://www.accordccs.com


AROVEST PTE: Wound Up by Parent Firm
------------------------------------
Arovest Pte Limited, a dormant subsidiary of Lee Kim Tah
Holdings Limited, announced that it has been voluntarily
liquidated by its parent firm, which has appointed liquidators
for the wind up.

20 Jalan Afifi #07-01
Cisco Centre II
Singapore 409179
Phone: 65 6745 3318
Fax:   65 6745 1218
E-mail: info@leekimtah.com


CREATIVE TECHNOLOGY: Unveils Personalized Digital Music Player
--------------------------------------------------------------
Creative Technology Limited had on Nov. 17, 2005 introduced
three high-capacity, skip-free flash memory-based models of
512MB, 1GB and 2GB Zen Neeon  digital music players . These new
models sport duo-tone OLED (Organic Light-Emitting Diode)
screens, which lend a distinctly contemporary edge to the
players, while displaying brighter and clearer characters that
are viewable from any angle.

Accompanying the launch of these flash memory-based models is a
new 6GB hard drive-based model which stores up to 3000 songs, as
well as a new range of Creative Stik-OnT decorative skins that
include 12 limited edition "Face" series Stik-On skins (each
bundled with a matching Zen Neeon sling) and 16 new designs that
fall under four thematic categories labeled "Bold", "Classic",
"Gutsy" and "Chic".

Creative Labs Asia vice-president Joseph Liow said, "We continue
to build on the success of our best-selling Zen Neeon 5GB by
introducing a whole new series of Zen Neeon players to suit each
individual's lifestyle. The latest range of high-capacity flash
memory-based as well as hard drive-based players provides
greater choice to consumers. They will also be able to
personalize their players and put a face to their music with our
latest collection of "Face" series Stik-On skins and matching
Zen Neeon slings!"

To view the Company's press release, click on:

http://bankrupt.com/misc/tcrap_creativetechnology112305.pdf

CONTACT:

Creative Technology Limited
Phone: 65 6895 4100
Web site: http://www.creative.com


DONGBO CHEM: Court Issues Wind Up Order
---------------------------------------
In the matter of Dongbo Chem Pte Limited, the Singapore High
Court issued a winding up order against the Company on Nov. 18,
2005, with the following details:

Name and address of Liquidator: Official Receiver
Insolvency & Public Trustee's Office
The URA Centre (East Wing)
45 Maxwell Road #05-11 & #06-11
Singapore 069118

Dated this 18th day of November 2005

Allen & Gledhill
Solicitors for the Petitioner

Note:

(a) All Company creditors should file their proof of debt with
the liquidator who will be administering all affairs of the
Company.

(b) All debts due to the Company should be forwarded to the
Liquidator.


FIRSTLINK INVESTMENTS: Sells New Zealand Property
-------------------------------------------------
Firstlink Investments Corporation Limited announces that on Nov.
17, 2005, the Company completed the sale of its property in New
Zealand, Centra Auckland Airport Hotel, to Goodearth Hotels NZ
(Auckland) Limited for a cash consideration of NZD17 million
(SGD )

By Order of the Board

Lee Yuen Wai
Deputy Chairman

Nov. 18, 2005

CONTACT:

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


TRI-M TECHNOLOGIES: Answers SGX-ST Queries on Financial Report
--------------------------------------------------------------
Tri-M Technologies Limited announced that the Company has
published its replies to the queries of the Singapore Exchange &
Securities Trading Limited (SGX-ST)'s questions on its financial
results for the first six months of the year ended Sept. 30,
2005.

To view the Company report, go to:

http://bankrupt.com/misc/tcrap_tri-mtechnologies112305.pdf

CONTACT:

Tri-M Technologies (Singapore) Limited
25 Kallang Avenue #07-01/02
Kallang Basin Industrial Estate
Singapore 339416
Phone: 65 6293 9293
Fax:   65 6229 7656
Web site: http://www.tri-m.com.sg/


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

JASMINE INTERNATIONAL: To Hold Warrant Exercise December 15
-----------------------------------------------------------
Jasmine International Public Company Limited informed the Stock
Exchange of Thailand (SET) the information regarding the
Exercise of 1,156,203,100 units of the Company's Rights Warrants
as follows:

(1) The Notification Period is during 8:30 a.m. to 3:30 p.m. on
the Company's business day on December 1-14, 2005.

(2) The Exercise Date is on December 15, 2005.

(3) Contact Place to exercise the Rights Warrants and to get the
Exercise Notice Forms is:

- Jasmine International Public Company Limited 200, Jasmine
International Tower, 29th Floor, Moo 4, Chaengwattana Road,
Pakkred Sub-district, Pakkred, Nonthaburi 11120, Thailand,
Telephone No. (66 2) 502-3119-20, Fax No. (66 2) 502-3151 or
download exercise notice form from http://www.jasmine.com

- Or at any office of the brokerage companies during the
Notification Period.

(4) The Exercise Ratio and the Exercise Price to subscribe the
Company's Common Shares:

1 Rights Warrant has a right to subscribe 1 Common Share of the
Company at the price of THB0.334 per share.

(5) Payment Method

The Warrant holders can pay by cash, cheques, drafts, bill of
exchanges or payment orders from banks which can be cashed in
Bangkok when called within two days and shall be made payable to
"Jasmine International Public Company Limited".

Please be informed accordingly.

Authorized director
Mr. Somboon Patcharasopak
Chaengwatana Planner Co. Ltd. the Plan Administrator of
Jasmine International Public Company Limited

CONTACT:

Jasmine International Public Company Limited
200 Fl. 30, Moo 4, Chaengwatthana Rd.,
Pak Kret, Nonthaburi
Telephone: 0-2502-3000-7
Fax: 0-2502-3150-2
Web site: http://www.jasmine.co.th


M.D.X: Executive Quits Post
---------------------------
M.D.X. Public Co. Ltd. informed the Stock Exchange of Thailand
(SET) that Mr. Roy I. Jutabha has resigned from the position of
President and Executive Director of the company effective
November 16, 2005 because of his private business. Currently,
the Company is seeking for the substitution.

However, this resignation does not affect the management of the
Company since MDX Public Company Limited is under the Business
Rehabilitation process.  Therefore, the management authority is
transferred to the Plan Administrator; Wittayu Planner Company
Limited.

Please be informed accordingly.

Sincerely yours,
Mrs. Songsri Kalyanamitr
Authorized Director of Wittayu Planner Co., Ltd.
On behalf of the Plan Administrator
of MDX Public Company Limited

CONTACT:

M.D.X. Public Company Limited
Nailert Tower, Floor 7, 10,2/4 Wireless Road,
Lumpini, Pathum Wan, Bangkok
Telephone: 0-2253-0428-36, 0-2267-9071
Fax: 0-2253-0427, 0-2253-2731


SIAM AGRO-INDUSTRY: Court OKs Rehab Plan
----------------------------------------
Following the joint filing of the petition for rehabilitation on
January 11, 2005 with the Central Bankruptcy Court by Siam Agro-
Industry Pineapple and Others Public Co. Ltd. and it's major
creditor, Kasikornbank PCL, the Central Bankruptcy Court ordered
the business reorganization of the Company and appointed Mr.
Praful Shah, Mr. Wacharin Piyarat and Mr. Mark Christopher
Chewter to prepare the plan of the Company on February 2005.

At the creditors' meeting held on October 17, 2005, the
rehabilitation plan and amended plan were approved by a special
resolution by the creditors. The Central Bankruptcy Court fixed
to consider the rehabilitation plan on October 31, 2005 but was
postponed to November 18, 2005.

At a hearing November 18, the Court ordered to approve the plan
of the Company and appointed Mr. Praful Shah and Asian
International Planners Limited to be the plan administrators of
the Company.

Please be informed accordingly and disclose to the shareholders
and the general investors.

Yours sincerely,
Mr. Praful Shah
Managing Director

CONTACT:

Siam Agro-Industry Pineapple And Others Pcl
Ocean Tower 2, Floor38,
75/105 Sukhumvit Road,
Watthana Bangkok
Telephone: 0-2661-7878
Fax: 0-2661-7865
Web site: http://www.saico.co.th


TANAYONG: Security Trading Remains Suspended
--------------------------------------------
Tanayong Public Co. Ltd. has submitted to the Stock Exchange of
Thailand (SET) its reviewed financial statement for the period
ending September 30, 2005.

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

The SET then informed shareholders and investors on the above
matter to scrutinize the auditors' report on the financial
statement.

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

CONTACT:

Tanayong Public Company Limited
100-100/1 Moo 4, Km.14, Bangna-Trat Road,
Bang Plee, Samut Prakarn
Telephone: 0-2273-8511-15
Fax: 0-2273-8516-17
Web site: http://www.tanayong.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

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

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

This material is copyrighted and any commercial use, resale or
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