/raid1/www/Hosts/bankrupt/TCRAP_Public/051206.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, December 6, 2005, Vol. 8, No. 241
Headlines
A U S T R A L I A
ALLSTATE EXPLORATIONS: Shareholders Question AU$22-Mln Hike
ARTHUR SARROFF: Members Resolve to Wind Up Firm
AUSTRALIAN GAS: Starts Native Title Talks in PNG
BURCUF HOLDINGS: Creditors OK Liquidator's Appointment
BURNS HOLDINGS: Enters Voluntary Liquidation
CAROLAN ENTERPRISES: Shuts Down Operations
COMFORT AIR: Liquidator to Detail Wind Up Manner
EMPEROR MINES: Raises AU$8.8 Mln by Placement
GFLL INVESTMENTS: Court Orders Winding Up
HLT INVESTMENTS: Members Agree to Wind Up Firm
INTERLINK WORKSPACE: Set to Declare First, Final Dividend
JAMES HARDIE: Still Under ASIC's Watchful Eyes
JOHN BIRRELL: Members Pass Winding Up Resolution
LEO PICK: Schedules Final Meeting Dec. 13
MARCSUN PTY: Decides to Close Business
MULTIPLEX: Snags Contract to Build Tower in Dubai
MYER LIMITED: Potential Buyers Lodge First Bids
PAOLO LEVA: Court Appoints Official Liquidator
PANALOGIC CORPORATION: Intends to Pay Priority Dividend
QANTAS AIRWAYS: New Jetstar Division Poised for Flight
QANTAS AIRWAYS: To Reduce Agent Base Commissions
QUEENDALE PTY: Members, Creditors to Receive Liquidator's Report
RESTBASE PTY: Court Releases Winding Up Order
SOFTOPTIONS PTY: Placed Under Voluntary Liquidation
STATIRA PTY: Robert E. Murphy Named Official Liquidator
STEWARTS MANAGEMENT: Declares Final Dividend
UNIVERSAL ADVERTISING: Liquidator to Explain Wind Up to Members
WESTPOINT GROUP: York Street Money May be Superannuation
WILPAT PTY: Wind Up Process Initiated
C H I N A & H O N G K O N G
CECIL DEVELOPMENT: Set to Wind Up Business
EASYKNIT INTERNATIONAL: IDT Unveils Insider Trading
FILEX PAPER: To Undergo Winding Up Process
GA CONSULTANCY: Set to Cease Operations
JIALING XIN: Winding Up Petition Fixed Dec. 14
MIL LIMITED: Creditors Meeting Set Dec. 30
NEW CHOICE: Issues Debt Claim Notice
PACIFIC SMART: Set to Wind Up Business
SHARP SUCCESS: Releases Notice to Creditors to Prove Debts
SHING KEE: Court Issues Winding Up Order
SILVER TARGET: Prepares to Cease Operations
SPENDERS IMAGE: High Court Orders Winding Up
STATEFIELD COMPANY: Winding Up Hearing Set Jan. 4
WISE VICTORY: Creditors to Prove Debts by Jan. 2
I N D I A
AIR INDIA: To Fly Pune-Dubai Route from Dec. 12
BALLARPUR INDUSTRIES: Striking Workers Return to Work
FOOD CORPORATION: North Zone Bags ISO 9001-2000 Certification
I N D O N E S I A
PERTAMINA: Government Ensures Adequate Gas Supply
PERTAMINA: To Close Cepu Deal with ExxonMobil This Month
J A P A N
KONICA MINOLTA: Swings to JPY3.48 Bln Net Loss
MITSUBISHI FUSO: To Relocate Head Office
NIPPON IRIDIUM: Enters Bankruptcy
PIONEER CORPORATION: Unveils 60th Semiannual Business Report
SHOWA AIRCRAFT: R&I Affirms BBB- Rating
SONY CORPORATION: Unveils New Early Retirement Plan
K O R E A
CITIBANK KOREA: Striking Workers Fail to Achieve Goal
SAMSUNG MOTORS: Creditors to File Lawsuit Against Group Chairman
M A L A Y S I A
AFFIN HOLDINGS: Bourse to List, Quote New Shares
AIC CORPORATION: Books MYR7,081,000 Net Loss in 3Q/FY05
ANTAH HOLDING: Fails to Submit Annual Audited Accounts
BELL & ORDER: Unveils Relevant Dates for Rights Issue
BUKIT KATIL: To Convene AGM December 23
DENKO INDUSTRIAL: Net Loss Dips to MYR224,000 in 2Q/FY05
FEDERAL FURNITURE: Incurs Net Loss in 3Q/FY05
FOREMOST HOLDINGS: Sees no Changes to Default Payment Status
FOREMOST HOLDINGS: Net Loss Rises to MYR6,362,000 in 3Q/FY05
KILANG PAPAN: To Formulate New Debt Revised Restructuring Scheme
NEXNEWS BERHAD: Net Loss Widens to MYR93,974,000 in 3Q/FY05
NEPLINE BERHAD: Posts MYR731,000 Net Loss in 3Q/FY05
PANGLOBAL BERHAD: Incurs Net Loss in 3Q/FY05
PANTAI HOLDINGS: Unveils Composition of Board
POS MALAYSIA: Issues New Shares for Listing, Quotation
SOUTHERN BANK: New Shares Up for Listing, Quotation
P H I L I P P I N E S
C&P HOMES: Bourse Halts Trading Re Capital Restructuring
MAYNILAD WATER: Advocacy Group Wants Rehab Blocked
NATIONAL POWER: PSALM Mulls US$500-Mln Loan in 2006
NATIONAL POWER: YNN Assures US$222-Mln Down Payment
* Moody's Says 2006 Revenue Goals 'Not Realistic'
S I N G A P O R E
DIGILAND INTERNATIONAL: Bourse OKs Share Listing
FIRSTLINK INVESTMENTS: Discontinues Property Sale to Trivec
GRAINSFIELDS FOOD: Creditors Finalize Wind Up Process
HESHE HOLDINGS: CEO Buys Shares
L&M GROUP: Court Adjourns Judicial Management Case
MAY LEE: Creditor Files Winding Up Petition
REALCENTRE PTE: Appoints Official Liquidator
UNISON PROJECTS: Court Orders Winding Up
T H A I L A N D
THAI PETROCHEMICAL: Informs SET on Pending Petitions
TUNTEX THAILAND: Director Steps Down from Post
BOND PRICING: For the Week 5 December to 9 December 2005
- - - - - - - -
=================
A U S T R A L I A
=================
ALLSTATE EXPLORATIONS: Shareholders Question AU$22-Mln Hike
-----------------------------------------------------------
Allstate Explorations' investors are confused over an apparent
blowout in Macquarie Bank's controversial loan to the gold
miner, The Australian relates.
Allstate Chairman Rod Elvish told last week's annual
shareholders meeting that the debt was AU$48 million.
But in the version of his speech submitted to the Australian
Stock Exchange (ASX) and posted on the Allstate web site this
week he reveals interest on top of the debt of AU$22 million.
The announcement was removed from the ASX web site after two
days and replaced with a version, which omitted the reference to
interest.
The confusion has prompted shareholders to write to Australian
Securities and Investments Commission (ASIC) chairman Jeff Lucy
seeking an investigation into the affair.
If correct, the interest payments would further burden long-
suffering shareholders who want to see Allstate move out of
administration and back on to the share market.
The 2002 Allstate accounts say that the unsecured debt to
Macquarie Bank was non-interest-bearing with no fixed term of
payment.
It is the first time that shareholders have been told the debt
accrued interest.
CONTACT:
Allstate Explorations NL
The Administrator
Taylor Woodings Corporation Services
6th Floor, 30 The Esplanade
PERTH, AUSTRALIA, 6000
Telephone: 08 9321 8533
Fax: 08 9321 8544
ARTHUR SARROFF: Members Resolve to Wind Up Firm
-----------------------------------------------
Notice is hereby given that at a general meeting of the members
of Arthur Sarroff held on Nov. 9,2005, it was resolved that the
Company be wound up voluntarily, and that Mr. R. M. Sutherland
be appointed as Liquidator for such purpose.
Dated this 22nd day of November 2005
R. M. Sutherland
Liquidator
Jirsch Sutherland Chartered Accountants
Level 2, 84 Pitt Street
Sydney NSW 2000
Phone: 02 9233 2111
Fax: 02 9233 2144
AUSTRALIAN GAS: Starts Native Title Talks in PNG
------------------------------------------------
Australian Gas Light Co. Ltd. has started native title
discussion with indigenous groups for the US$3 billion (AU$4.02
billion) Papua New Guinea (PNG) gas pipeline project, Asia Pulse
reveals.
AGL Managing Director Greg Martin confirmed a dialogue has begun
with 50 indigenous landowner groups and four representative
bodies for the project's Australian pipeline section.
The Australian and PNG Gas conference was told yesterday that
PNG landowners were supportive of the project.
AGL is developing the Australian pipeline component of the 3,800
kilometre project in a 1998 forged consortium with Malaysia
government owned corporation Petronas.
The first gas is expected to be delivered in 2009.
CONTACT:
Australian Gas Light Company
Locked Bag 1837
St. Leonards
NSW 2065
General Inquiries: 02 9921 2999
General Fax: 02 9921 2552
Share Registry: 02 9921 2259
Share Registry Fax: 02 9921 2465
BURCUF HOLDINGS: Creditors OK Liquidator's Appointment
------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Burcuf Holdings Pty Limited held on Nov. 7, 2005, a Special
Resolution was passed to voluntarily wind up the Company, and
Mr. Gregory J. Parker was appointed as Liquidator for the
winding up. Creditors confirmed the Liquidator's appointment at
a creditors' meeting held later that day.
Dated this 8th day of November 2005
Gregory J. Parker
Liquidator
Parker Insolvency
Level 5, 49 Market Street
Sydney NSW 2000
BURNS HOLDINGS: Enters Voluntary Liquidation
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Burns Holdings Pty Limited held on Nov. 13,
2005, it was resolved that the Company be wound up voluntarily,
and that Mr. Dennis Joseph Rynne of 70 Davrod Street, Robertson
Qld be nominated to act as Liquidator for the winding up.
Dated this 13th day of November 2005
Dennis J. Rynne
Liquidator
70 Davrod Street, Robertson Qld 4109
Phone: 07 3216 9768
CAROLAN ENTERPRISES: Shuts Down Operations
------------------------------------------
Notice is hereby given that at a meeting of creditors of Carolan
Enterprises Pty Limited held on Nov. 9, 2005, it was resolved
that the Company be wound up, and Mr. Henry Kazar of Sims
Partners Chartered Accountants, Suite 5, 32 Thesiger Court,
Deakin West ACT 2600 was appointed as Liquidator for such
purpose.
Dated this 22nd day of November 2005
Henry Kazar
Liquidator
SimsPartners Chartered Accountants
PO Box 211, Deakin West ACT 2600
Phone: 02 6285 1310
COMFORT AIR: Liquidator to Detail Wind Up Manner
------------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of Comfort Air Conditioning Pty Limited will be held
on Dec. 13, 2005, 9:30 a.m. in the offices of PPB Chartered
Accountants, 10th Floor, 26 Flinders Street, Adelaide NSW, for
the following purposes:
AGENDA
To receive the Liquidator's account showing how the winding up
was conducted and the property of the Company disposed of, and
explanations thereof.
Dated this 7th day of November 2005
M. C. Hall
Liquidator
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000
Phone: 8211 7800
EMPEROR MINES: Raises AU$8.8 Mln by Placement
---------------------------------------------
Emperor Mines Limited has on Monday announced the placement of
23.2 million shares at 38 cents per share to raise AU$8.816
million before costs (Placement).
Austock Corporate Finance Limited has arranged this placing for
Emperor, which has been issued to investors exempted from
disclosure under section 708(8) of the Corporation Act 2001
(Cth).
The Board of Emperor previously announced an intention to
undertake a US$15 million raising in February 2006, however it
light of recent strong demand for shares the company has elected
to undertake this Placement under the 15% limit imposed by the
ASX Listing Rules for companies seeking to raise capital without
having to obtain shareholder approval. Accordingly, the US$15
million raising in February will be scaled back by the net
amount raised from this Placement.
As previously announced, the Company has a number of key capital
programs at Vatukoula including:
- Refurbishment of the Phillip Shaft to increase capacity,
including the installation of a new winder, improved shaft
infrastructure and the installation of a new water pumping
system; and
- Feasibility studies and test work to construct a Fluidized Bed
Roaster, which will assist in processing ore with higher sulphur
levels and reducing emissions.
The raising of part of these funds now will allow the benefits
from these programmes to be realized sooner.
CONTACT:
Emperor Mines Limited
Level 1 WBM Building
490 Upper Edward Street
Spring Hill QLD 4004
GFLL INVESTMENTS: Court Orders Winding Up
-----------------------------------------
On Nov. 4, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of GFLL Investments Pty Limited,
and appointed Mr. Antony de Vries to be the Company Liquidator.
Dated this 8th day of November 2005
Antony de Vries
Liquidator
de Vries Tayeh
Level 3, 95 Macquarie Street
Parramatta NSW 2125
HLT INVESTMENTS: Members Agree to Wind Up Firm
----------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of HLT Investments Pty Limited held on Nov. 9,
2005, it was resolved that the Company be wound up voluntarily,
and Mr. Leonard A. Milner of Venn Milner & Co., Suite 1, 43
Railway Road, Blackburn Vic 3130 be appointed as Liquidator at a
creditors' meeting held later that day.
Dated this 9th day of November 2005
Leonard A. Milner
Liquidator
Venn Milner & Co.
Suite 1, 43 Railway Road
Blackburn Vic 3130
INTERLINK WORKSPACE: Set to Declare First, Final Dividend
---------------------------------------------------------
Interlink Workspace Commercial Furnishers Pty Limited will
declare a first and final dividend on Dec. 7, 2005.
Creditors who were not able to prove their debts or claims will
be excluded from the benefit of the dividend.
Dated this 20th day of October 2005
Robert Eugene Murphy
Liquidator
Level 9, 46 Edward Street
Brisbane Qld 4000
JAMES HARDIE: Still Under ASIC's Watchful Eyes
----------------------------------------------
The Australian Securities and Investments Commission (ASIC) is
keeping its eyes fixed on James Hardie Industries, according to
The West Australian.
The corporate regulator has vowed to keep the inquiry on James
Hardie a top priority despite the firm striking an asbestos
compensation agreement with the New South Wales (NSW)
Government.
ASIC Chairman Jeff Lucy told WestBusiness that its James Hardie
probe remained at the head of the regulator's list of
investigations, alongside its probe of failed printer Offset
Alpine, insurer HIH and the Perth-based gold, tantalum and
hedging company Sons of Gwalia.
The regulator has been investigating James Hardie over the past
year for potential criminal and Corporations Act civil penalty
offences.
But James Hardie had reportedly been pushing for its directors
and executives to be provided with immunity from civil
prosecution in the haggling over the terms of the asbestos
compensation agreement finalized last week.
In unveiling the final deal, the NSW Government said James
Hardie directors and executives would be indemnified from civil
actions for compensation by asbestos victims but ASIC could
still launch civil or criminal prosecutions against James
Hardie's directors and executives.
Mr. Lucy said he had been monitoring the negotiations and
potential legislation to ensure that any civil immunity only
covered potential compensation orders under its civil penalty
prosecution powers.
ASIC had wanted to ensure the agreement did not prevent civil
penalties prosecutions that could result in offenders being hit
with fines or banning orders.
CONTACT:
James Hardie Industries NV
Steve Ashe
Vice President, Investor Relations
Telephone: 61 2 8247 5246
Mobile: 0408 164 011
E-mail: steve.ashe@jameshardie.com.au
Media Inquiries:
James Richards
Telephone: 61 2 8274 5304
Mobile: 0419 731 371
Facsimile: 61 2 8274 5218
E-mail: media@jameshardie.com.au
Web site: http://jameshardie.com
JOHN BIRRELL: Members Pass Winding Up Resolution
------------------------------------------------
At a general meeting of the members of John Birrell Pty Limited
held on Nov. 9, 2005, the following Special Resolution was
passed:
That the Company be wound up voluntarily.
Dated this 9th day of November 2005
William Morris Beaver
Director
C/0 Frank Lo Pilato
RSM Bird Cameron Partners
Level 1, 103-105 Northbourne Avenue
Turner ACT 2611
Phone: 02 6247 5988
LEO PICK: Schedules Final Meeting Dec. 13
-----------------------------------------
Notice is hereby given that a general meeting of the members and
creditors of Leo Pick Pty Limited will be held on Dec. 13, 2005,
10:30 a.m. at the offices of Cranstoun & Hussein, Level 2, 102
Adelaide Street, Brisbane, Qld 4000, 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
explanations that may be given by the Liquidator.
Dated this 4th day of November 2005
John Fedema
Liquidator
Cranstoun & Hussein
Level 2 - 102 Adelaide Street
Brisbane Qld 4000
MARCSUN PTY: Decides to Close Business
--------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Marcsun Pty Limited held on Nov. 9, 2005, it
was resolved that the Company be wound up voluntarily, and Mr.
Leonard A. Milner of Venn Milner & Co., Suite 1, 43 Railway
Road, Blackburn Vic 3130 was appointed as Liquidator for such
purpose.
Dated this 9th day of November 2005
Leonard A. Milner
Liquidator
Venn Milner & Co.
Suite 1, 43 Railway Road
Blackburn Vic 3130
MULTIPLEX: Snags Contract to Build Tower in Dubai
-------------------------------------------------
Multiplex Group announced that its construction division in the
United Arab Emirate has been awarded a Dhs1 billion
(approximately AU$389 million) contract for the design and
construction of an 86-storey office, residential and retail
complex in Dubai.
The Union Properties project, located in the heart of the Dubai
International Finance Centre, incorporates 25 levels of office
space, 520 apartments and penthouses over 50 levels with other
levels being occupied by parking, retail, services and
landscaped podium.
Foster and Partners of London, England, produced the
architectural concept for the project, while Multiplex has
engaged architects Woods Bagot and Structural Engineers
Bruechle, Gilchrist and Evans to complete design development.
The project, to be known as the Index, will be delivered on a
Guaranteed Maximum Price contract, which is the result of a two-
stage negotiation process with Union Properties, for whom
Multiplex has already successfully completed The Tower and
Creekside Apartments projects.
Union Properties have engaged edara-APP, a Joint Venture between
edara, a Dubai-based project management group, and APP, a well-
known Australian project management company, as their Project
Managers during both the design and construction phases.
Construction is to commence this month, under a three-year
contract.
Multiplex Group's construction division operates in the United
Arab Emirates under the trading name, Nasa Multiplex.
Nasa Multiplex is one of the major building operators present in
the United Arab Emirates, with work in hand Monday including 15
residential apartment towers for phases one, two and three of
the Burj Residences project, as well as a 6 tower residential
project on Dubai Marina.
Multiples Group stapled securities trade on the Australian Stock
Exchange under the symbol "MXG".
CONTACT:
Multiplex Group
Level 4, 1 Kent Street,
SYDNEY, NSW, AUSTRALIA, 2000
Telephone: (02) 9256 5000
Fax: (02) 9256 5001
Web site: http://www.multiplex.com.au
MYER LIMITED: Potential Buyers Lodge First Bids
-----------------------------------------------
Prospective bidders of Myer Limited's stores rushed to lodge
their first bids yesterday, the Sydney Morning Herald reports.
At the head of those jostling for position is a large number of
private equity groups and well-known retailers, including Harvey
Norman, David Jones and Edgars Consolidated of South Africa.
Private equity firms interested in the retail chain include
Newbridge Capital, CVC Asia Pacific and JPMorgan Capital.
Another potential buyer is former Coles Myer chairman Solomon
Lew, who is believed to have talked to private equity groups
about a joint bid.
Rupert Myer, grandson of store founder Sidney Myer, has also
talked to private equity groups.
The Coles Myer board is believed to value the chain at AU$600
million-plus but retail analysts estimate AU$450 million. The
board is expected be briefed on the indicative bids later this
week before deciding whether to go ahead with a trade sale,
partial demerger or retention of Myer.
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
PAOLO LEVA: Court Appoints Official Liquidator
----------------------------------------------
On Nov. 11, 2005, the Federal Court of Australia, New South
Wales District Registry ordered that Mr. Christopher J. Palmer
be appointed as Liquidator in the winding up of Paolo Leva Pty
Limited.
Dated this 22nd day of November 2005
Christopher J. Palmer
Liquidator
O'Brien Palmer
Level 4, 23 Hunter Street
Sydney NSW 2000
PANALOGIC CORPORATION: Intends to Pay Priority Dividend
-------------------------------------------------------
Panalogic Corporation Pty Limited will declare a first priority
dividend on Dec. 7, 2005.
Creditors who were not able to prove their debts or claims will
be excluded from the benefit of the dividend.
Dated this 24th day of October 2005
Bil Cotter
Liquidator
Level 24, Australia Square
264 George Street, Sydney NSW 2000
Phone: 02 9241 3422
QANTAS AIRWAYS: New Jetstar Division Poised for Flight
------------------------------------------------------
The board of Qantas Airways is expected to endorse the launch of
Jetstar International on Wednesday, according to the Sydney
Morning Herald.
The new Jetstar division is expected to start flying by the end
of 2006 to destinations such as Seoul, Taipei, Ho Chi Minh City
and several leisure spots in South-East Asia. Routes to Europe
and U.S. could come later.
The new airline will form a major part in Qantas's five-year
plan to slash AU$3 billion from its cost base by mid-2007.
It is understood Qantas wants to run its low-cost offshoot with
a cost base 40 percent lower than its mainline operations. It
will operate from all mainland state capitals.
Qantas is deliberating whether to buy 300-seat Boeing 787s or
Airbus 350s for the low-cost offshoot. It is expected the other
tranche of the order, ultra long-range Boeing 777-200LRs or
Airbus A340-500s, will go to Qantas's mainline operations.
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
QANTAS AIRWAYS: To Reduce Agent Base Commissions
------------------------------------------------
Qantas Airways said that it would change travel agent base
commissions for tickets sold in Australia from April 1, 2006.
Qantas Head of Sales and Marketing Rob Gurney said that under
the new base commission structure:
- Australian domestic, trans-Tasman and New Zealand domestic
base commissions, currently one percent, would be discontinued;
and
- International base commissions would be reduced from seven
percent to five percent.
Mr. Gurney said Qantas was operating in an extremely challenging
environment with fierce competition domestically and
internationally, as well as continuing high fuel costs.
"The reduction in commissions is in line with global trends and
with Qantas' stated aim to reduce distribution costs.
"In some overseas markets, airlines have removed commissions
entirely and travel agents have adjusted to new income models.
"Base commissions are only part of the income mix that travel
agents receive from airlines and agents are increasingly moving
to a new remuneration models, including the collection of
service fees where the customer pays the travel agent for the
expert service they receive."
Travel agents are a key part of Qantas' distribution mix and
Qantas will continue to consult closely with the Australian
Federation of Travel Agents and to support the travel industry
network, Mr., Gurney said.
QUEENDALE PTY: Members, Creditors to Receive Liquidator's Report
----------------------------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of Queendale Pty Limited will be held on Dec. 13,
2005, 10:00 a.m. at Hall Chadwick, Level 29, 31 Market Street,
Sydney NSW 2000, for the following purposes:
BUSINESS
(1) To receive the Liquidator's account of his acts and dealings
and of the conduct of the winding up during the liquidation
period, which ends on Dec. 13, 2005.
(2) That the Liquidator be empowered to destroy all the Company
books and records on completion of all duties.
(3) Any other business.
Dated this 7th day of November 2005
Richard Albarran
Liquidator
C/o Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000
RESTBASE PTY: Court Releases Winding Up Order
---------------------------------------------
On Nov. 7, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of Restbase Pty Limited, and
appointed Mr. R. J. Porter to be the Company Liquidator.
R. J. Porter
Liquidator
Moore Stephens Chartered Accountants
Level 6, 460 Church Street
Parramatta NSW 2150
SOFTOPTIONS PTY: Placed Under Voluntary Liquidation
---------------------------------------------------
Notice is hereby given that at a meeting of creditors of
Softoptions Pty Limited held on Nov. 8, 2005, it was resolved
that the Company be wound up, and Mr. Colin R. McDonald of PO
Box 56, Mooroolbark Vic 3138 was appointed as Liquidator for the
winding up.
Dated this 11th day of November 2005
Colin R. McDonald
Liquidator
Colin R. McDonald
Chartered Accountant
PO Box 56, Mooroolbark Vic 3138
Phone: 03 9726 4988
Fax: 03 9726 9338
STATIRA PTY: Robert E. Murphy Named Official Liquidator
-------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Statira Pty Limited held on Nov. 23, 2005, it was resolved
that the Company be wound up voluntarily, and that Robert Eugene
Murphy, Chartered Accountant of R. E. Murphy & Co. Chartered
Accountants, Level 9, 46 Edward Street, Brisbane Qld 4000 be
appointed as Liquidator for such purpose.
Dated this 3rd day of November 2005
Robert E. Murphy
Liquidator
R. E. Murphy & Co. Chartered Accountants
Level 9, 46 Edward Street
Brisbane Qld 4000
STEWARTS MANAGEMENT: Declares Final Dividend
--------------------------------------------
Stewarts Management Pty Limited will declare a first and final
dividend on Dec. 7, 2005.
Creditors who were not able to prove their debts or claims will
be excluded from the benefit of the dividend.
Dated this 24th day of October 2005
Robert Eugene Murphy
Liquidator
Level 9, 46 Edward Street
Brisbane Qld 4000
UNIVERSAL ADVERTISING: Liquidator to Explain Wind Up to Members
---------------------------------------------------------------
Notice is hereby given that the final meeting of the members of
Universal Advertising Placement Pty Limited will be held on Dec.
13, 2005, 10:15 a.m. at the offices of SimsPartners, Level 24
264 George Street Sydney NSW 2000 to present the Liquidator's
final account and report, and to give any explanation thereof.
Dated this 4th day of November 2005
S. D. Pascoe
Liquidator
SimsPartners
Level 24, 264 George Street
Sydney NSW 2000
Phone: 02 9241 3422
Fax: 02 9241 3922
WESTPOINT GROUP: York Street Money May be Superannuation
--------------------------------------------------------
A large portion of cash in Westpoint's property financing arm
York Street Mezzanine was found to be superannuation, The West
Australian reports.
Consumer advocate Denise Brailey said she had obtained a full
list of people who had put money into York Street's mezzanine
finance scheme and about 60 percent of them appeared to be
acting as trustees for superannuation funds.
On Nov. 30, York Street administrators held the company's first
creditors meeting since they were called in after the Australian
Securities and Investments Commission swooped.
About AU$80 million of investor money has provided second
mortgage finance to a delayed Sydney apartment project, which
owes an estimated AU$73 million to bank financiers.
WILPAT PTY: Wind Up Process Initiated
-------------------------------------
At a general meeting of the members of Wilpat Pty Limited held
on Nov. 8, 2005, a Special Resolution was passed to voluntarily
wind up the Company.
Stephen Graham Longley
David Laurence McEvoy
Liquidators
Freshwater Place, 2 Southbank Boulevard
Melbourne Vic 3001
==============================
C H I N A & H O N G K O N G
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CECIL DEVELOPMENT: Set to Wind Up Business
------------------------------------------
Cecil Development Limited, whose office address is located at Rm
1906 Empress Plaza 17-19 Chatham Road South Tsim Sha Tsui
Kowloon, issued a winding up order notice in the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on November 23, 2005.
Date of Presentation of Petition: September 21, 2005
Dated this 2nd day of December 2005
ET O'Connell
Official Receiver
EASYKNIT INTERNATIONAL: IDT Unveils Insider Trading
---------------------------------------------------
The Insider Dealing Tribunal (IDT) has submitted to the
Financial Secretary a report on its inquiry in relation to the
listed securities of Easy Concepts International Holdings
Limited (Easy Concepts) and Easyknit International Holdings
Limited (Easyknit).
According to the report, the Tribunal, under the Chairmanship of
the Honourable Mr. Justice McMahon, concluded its findings by
unanimous decision that Mr. Koon Wing Yee; Mr. Sonny Chan Kin
Shing; Mr. Alan Tsang Yiu Kai; Ms. Helena Sum Wai Ching and Ms.
Christina Tsang Yuen Mai, were found to have engaged in insider
dealing.
The Tribunal made no finding of insider dealing against the
other three people named.
The Tribunal will proceed to hear representations on a date to
be fixed to determine the amount of profit gained and thereafter
to make consequential orders and penalties.
The Easy Concepts and Easyknit inquiry involved eight implicated
parties and 25 witnesses, with a total of 54 actual hearing
days.
For a summary of the Tribunal's report, go to
http://bankrupt.com/misc/tcrap_easyknit120505.doc
FILEX PAPER: To Undergo Winding Up Process
------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Filex Paper Converter Limited by the High Court of Hong Kong
Special Administrative Region was on November 21, 2005 presented
to the said Court by Climax Paper Converters, Limited whose
registered office is situated at 26th Floor, Metropole Square, 2
On Yiu Street, Siu Lek Yuen, Shatin, New Territories, Hong Kong.
The said Petition is to be heard before the Court at 9:30 a.m.
on January 18, 2006.
Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose.
A copy of the petition will be furnished to any creditor or
contributory of the said company requiring the same by the
undersigned on payment of the regulated charge for the same.
ANTHONY CHIANG & PARTNERS
Solicitors for the Petitioner
3903 Tower 2, Lippo Centre
89 Queensway
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 12, 2006.
GA CONSULTANCY: Set to Cease Operations
---------------------------------------
GA Consultancy Limited, whose office address is located at Room
402 4/F Block A Hop Shui Factory Building 29-31 Lee Chung Street
Chai Wan Hong Kong, issued a winding up order notice in the High
Court of the Hong Kong Special Administrative Region Court of
First Instance on November 21, 2005.
Date of Presentation of Petition: August 18, 2005
Dated this 2nd day of December 2005
ET O'Connell
Official Receiver
JIALING XIN: Winding Up Petition Fixed Dec. 14
----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Jialing Xin Tuo International Limited (formerly known as Golden
Mass International Limited) by the High Court of Hong Kong
Special Administrative Region was on October 18, 2005 presented
to the said Court by Cooperative Centrale Raiffeisen-
Boerenleenbank B.A. whose place of business in Hong Kong is
situate at 43/F., Two Exchange Square, 8 Connaught Place, Hong
Kong.
The said Petition is directed to be heard before the Court at
9:30 a.m. on December 14, 2005.
Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose.
A copy of the petition will be furnished to any creditor or
contributory of the said company requiring the same by the
undersigned on payment of the regulated charge for the same.
SIMMONS & SIMMONS
Solicitors for the Petitioner
35th Floor, Cheung Kong Center
No. 2 Queen's Road Central
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of December 13, 2005.
MIL LIMITED: Creditors Meeting Set Dec. 30
------------------------------------------
Notice is hereby given that the creditors of MIL (Far East)
Limited (In Members' Voluntary Liquidation), which is being
voluntarily wound up, are required on or December 30, 2005 to
send their names, addresses and descriptions, full particulars
of their debts or claims, as well as the names and addresses of
their solicitors (if any) to the Liquidators of the Company.
If so required by notice in writing from the said liquidators to
prove their debts or claims at such time and place as shall be
specified in such notice.
In default thereof, they will deemed to waive all of such debts
or claims and the Liquidators will be entitled seven days after
the above date, to distribute the funds available or any part
thereof to the Members.
Dated this 2nd day of December 2005
SUEN PUI YEE
IAIN FERGUSON BRUCE
Liquidators
8th Floor, Gloucester Tower
The Landmark
11 Pedder Street, Central
Hong Kong
NEW CHOICE: Issues Debt Claim Notice
------------------------------------
Notice is hereby given that the creditors of New Choice Holdings
Limited, which are being voluntarily wound up, are required (if
they have not already done so), on or before January 2, 2006, to
send in their names, addresses and particulars of their debts or
claims, and the name and address of their solicitors, if any, to
the liquidator.
If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors to come in and
prove its debts or claims at such time and place as shall be
specified in such notice.
In default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.
Dated this 2nd day of December, 2005
DESMOND CHUNG SENG CHIONG
Joint and Several Liquidator
c/o Ferrier Hodgson Limited
14/F., Hong Kong Club Building
Central
Hong Kong
PACIFIC SMART: Set to Wind Up Business
--------------------------------------
Pacific Smart (H.K.) Limited, whose office address is located at
Rm A 14/F Amtel Building 144-148 Des Voeux Road Central Hong
Kong, issued a winding up order notice in the High Court of the
Hong Kong Special Administrative Region Court of First Instance
on November 21, 2005.
Date of Presentation of Petition: April 19, 2005
Dated this 2nd day of December 2005
ET O'Connell
Official Receiver
SHARP SUCCESS: Releases Notice to Creditors to Prove Debts
----------------------------------------------------------
Notice is hereby given that the creditors of Sharp Success
Investments Limited, which are being voluntarily wound up, are
required (if they have not already done so), on or before
January 2, 2006, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors, if any, to the liquidator.
If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors to come in and
prove its said debts or claims at such time and place as shall
be specified in such notice.
In default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.
Dated this 2nd day of December, 2005
DESMOND CHUNG SENG CHIONG
Joint and Several Liquidator
c/o Ferrier Hodgson Limited
14/F., Hong Kong Club Building
Central
Hong Kong
SHING KEE: Court Issues Winding Up Order
---------------------------------------
Shing Kee Folding Company, whose office address is located at
Unit 8 2nd Floor Blk A sheung Shui Plaza No. 3 Ka Fu Close
Sheung Shui 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 21, 2005.
Date of Presentation of Petition: August 22, 2005
Dated this 2nd day of December 2005
ET O'Connell
Official Receiver
SILVER TARGET: Prepares to Cease Operations
-------------------------------------------
Silver Target Industries Limited, whose office address is
located at Rm C 12th Floor Gaylord Commercial Building No. 114-
120 Lockhart Road Wanchai Hong Kong, issued a winding up order
notice in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on November 21, 2005.
Date of Presentation of Petition: September 21, 2005
Dated this 2nd day of December 2005
ET O'Connell
Official Receiver
SPENDERS IMAGE: High Court Orders Winding Up
--------------------------------------------
Spenders Image Limited, whose office address is located at Rm
106 Empress Plaza 17-19 Chatham Road South Tsim Sha Tsui
Kowloon, issued a winding up order notice in the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on November 23, 2005.
Date of Presentation of Petition: September 21, 2005
Dated this 2nd day of December 2005
ET O'Connell
Official Receiver
STATEFIELD COMPANY: Winding Up Hearing Set Jan. 4
-------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Statefield Company Limited by the High Court of Hong Kong
Special Administrative Region was on November 11, 2005 presented
to the said Court by Bank of China (Hong Kong) Limited (the
successor banking corporation to Kincheng Banking Corporation
pursuant to Bank of China (Hong Kong) Limited (Merger) Ordinance
(Cap.1167) whose registered office is situated at 14th Floor,
Bank of China Tower, 1 Garden Road, Hong Kong.
The said Petition is directed to be heard before the Court at
9:30 am on January 4, 2006.
Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose.
A copy of the petition will be furnished to any creditor or
contributory of the said company requiring the same by the
undersigned on payment of the regulated charge for the same.
ANTHONY CHIANG & PARTNERS
Solicitors for the Petitioner
3903 Tower 2, Lippo Centre
89 Queensway
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 3, 2006.
WISE VICTORY: Creditors to Prove Debts by Jan. 2
------------------------------------------------
Notice is hereby given that the creditors of Wise Victory
Holdings Limited, which are being voluntarily wound up, are
required (if they have not already done so), on or before
January 2, 2006, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors, if any, to the liquidator.
If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors to come in and
prove its said debts or claims at such time and place as shall
be specified in such notice.
In default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.
Dated this 2nd day of December, 2005
DESMOND CHUNG SENG CHIONG
Joint and Several Liquidator
c/o Ferrier Hodgson Limited
14/F., Hong Kong Club Building
Central
Hong Kong
=========
I N D I A
=========
AIR INDIA: To Fly Pune-Dubai Route from Dec. 12
-----------------------------------------------
Air India will launch its Pune-Dubai flight on Dec. 12, Asia
Pulse reveals.
The national flag carrier has pegged the fare of the destination
at INR5,474 (US$117) plus taxes. The return fare will be
INR12,105 plus taxes.
Air-India will operate the service each Monday, Thursday and
Friday with A310 aircraft.
The flight will depart from Pune at 3:15 p.m. and arrive at
Dubai at 4:55 p.m. For the return journey it would depart Dubai
at 6 p.m. and arrive Pune at 10:25 p.m.
Presently Air India operates 28 flights to Dubai from 13 of its
online stations in the country. With the introduction of new
service the total number has reached 14.
BALLARPUR INDUSTRIES: Striking Workers Return to Work
-----------------------------------------------------
Ballarpur Industries Ltd has informed the National Stock
Exchange of India Limited that the worker's strike at one the
Units of the Company viz. Kamlapuram has been called off.
The operations have been resumed at the plant, which is engaged
in the manufacture of Pulp.
CONTACT:
Ballarpur Industries Ltd
Thapar House, 124,
Janpath
New Delhi - 110001
Telephone 11-3328332/3328811
Fax 3327729/3721377/3722721
Web site: http://www.bilt.com
FOOD CORPORATION: North Zone Bags ISO 9001-2000 Certification
-------------------------------------------------------------
Food Corporation of India's (FCI) North Zone has bagged ISO
9001-2000 certificates, Web India reports.
The certificates mean there is an improvement in the functioning
of the Corporation had been a continuous process in the last 40
years with the objective of procuring foodgrains of high quality
and ensuring its timely reach to the right place and the people.
FCI has a total of 5 zones and the North zone is the largest
among all to secure ISO certification. North zone is comprised
of 8 regions with 53 district and 600 depots.
FCI Chairman and MD V K Malhotra was hopeful that the remaining
four zones would also be covered with similar ISO certification
within the next four months, making the whole Corporation a
certified organization.
Upon conferment of ISO certificates, the quality of service
being rendered by FCI would be meeting the expectations of its
customers as systems management approach would become an
integral part of its working, Mr. Malhotra said.
The Corporate Office of FCI, New Delhi, had already been
conferred the ISO certification in March 2005.
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
=================
PERTAMINA: Government Ensures Adequate Gas Supply
-------------------------------------------------
Indonesia's House of Representatives (DPR) secured a new
contract in order to ensure that state oil and gas firm PT
Pertamina provides enough gas to state fertilizer firms, Asia
Pulse reports.
House Commission VI member Azwir Dainy Tara said that the
government has bound Pertamina to a contract, which it must
honor, in order to resolve the Company's failure to provide
adequate gas supply to state firms.
Pertamina deputy president Mustika Saleh had said earlier that
The Company could not supply gas to state fertilizer firm PT
Pupuk Kujang. He added, however, that it would renew its gas
supply contract with Pupuk Kujang, so that it would not cease
operations.
At present, Pertamina has met only 69% of the total gas demand
of state fertilizer firms such as PT Pupuk Kujang, PT Pupuk
Kalimantan Timur, PT Pusri. Mr. Tara said that priority should
go to consumers, with a certain impact level due to the lack of
gas supply.
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: To Close Cepu Deal with ExxonMobil This Month
--------------------------------------------------------
State oil and gas firm PT Pertamina will close a joint-operation
contract with its U.S.-based partner, ExxnMobil Corp., on the
operation of an oil-rich block located in Cepu province, reports
Dow Jones.
The Company's Chief Executive Officer Widya Purnama said that he
expected a deal with ExxonMobil on the joint operation of the
Cepu block, on instructions from state President Susilo Bambang
Yudhoyono.
ExxonMobil spokeswoman Deva Rachman said that both firms are now
finalizing the joint operation agreement with Pertamina.
The joint operation agreement is a positive solution to the
deadlocked negotiations between both firms, with ExxonMobil
insisting it had the right to develop the oil and gas block,
while Pertamina offered to operate the block for the first five
years after its development.
President Yudhoyono had given both firms until the end of the
year to resolve the dispute, otherwise the Cepu block would be
managed by the government.
=========
J A P A N
=========
KONICA MINOLTA: Swings to JPY3.48 Bln Net Loss
----------------------------------------------
Konica Minolta Holdings Inc. incurs a net loss of JPY3.48
billion in the first half to September, versus a net profit
JPY8.2 billion a year earlier, as it continued spending heavily
on restructuring its business, AFX News reports.
The expected loss will largely reflect JPY90 billion in charges
the firm plans to allocate for restructuring as it sharply
reduces its exposure to the photo-imaging business.
The company aims to slash its current payroll of 33,000
employees by 10 percent, while streamlining its production
facilities and sales network. It did not elaborate further on
these moves.
In the photo-imaging division, Konica cut its operating loss to
JPY700 million, sharply lower than the loss of JPY4 billion
incurred the year earlier.
CONTACT:
Konica Holdings Inc. Company
1-6-1 Marunouchi, Chiyoda-ku
Tokyo 100-0005, Japan
Phone: +81-3-6250-2100
Fax: +81-3-3218-1368
MITSUBISHI FUSO: To Relocate Head Office
----------------------------------------
Mitsubishi Fuso Truck and Bus Corporation (MFTBC) announced the
location of its new headquarters. The company will relocate its
head office to the "Shin-Kawasaki Mitsui Building" in Shin-
Kawasaki by December 2006. The details of the new location
follow Monday's general announcement that the company planned to
move its head office from the current "Shinagawa Mitsubishi
Building" to a new location in Shin-Kawasaki.
MFTBC's current departments in the metropolitan area include
headquarters operations in Shinagawa and production/R&D
functions at the Kawasaki Plant. The top management,
domestic/international sales and service offices, and
administrative offices are currently located in the Shinagawa
headquarters. Approximately 500 employees working in the head
office will be transferred to Shin-Kawasaki with this
relocation. The company is also considering relocation of some
Kawasaki Plant staff there.
Advantages of relocating the head office to the new location
close to Kawasaki Plant include:
- Improved communication and connection between business
departments.
- Reduction of rental cost (300 million yen/year).
The new office will be located in the West Tower of "Shin-
Kawasaki Mitsui Building" (Address: 890-12 Kashimada, Saiwai-ku,
Kawasaki-shi). MFTBC plans to rent seven floors of the 31-story
building: the 26th through the 31st floor and also the 17th
floor. The company will decide on a specific plan for
departments to be relocated by spring next year, will conduct
interior finish work, and will complete relocation in December
2006.
MFTBC moved from Tamachi to its current location at the
"Shinagawa Mitsubishi Building" in May 2003.
About MFTBC
Mitsubishi Fuso Truck & Bus Corporation is one of Asia's leading
commercial vehicle manufacturers. DaimlerChrysler AG owns 85% of
MFTBC shares. The remaining 15% of shares continue to be held by
various Mitsubishi group companies. Mitsubishi Fuso is an
integral part of DaimlerChrysler's Commercial Vehicles Division.
CONTACT:
Mitsubishi Fuso Truck & Bus Corporation
2-16-4, Kounan, Minato-ku,
Tokyo 108-8285
Japan
Web site: http://www.mitsubishi-fuso.com
NIPPON IRIDIUM: Enters Bankruptcy
---------------------------------
KDDI Corporation has filed for the bankruptcy of Nippon Iridium
Corp.'s subsidiary in Bermuda with total liabilities worth
JPY10.1 billion, according to Jiji Press.
KDDI said it decided to file for the bankruptcy, as it was
unable to sell the premises of Nippon Iridium's phone base
station in Nagano Prefecture.
KDDI has already written off investments it had made in the
subsidiary.
Nippon Iridium ceased operations in March 2000 following the
bankruptcy of Iridium of the United States, which had been
leading the satellite-based mobile phone project.
CONTACT:
KDDI Corporation
10-10 Iidabashi 3-Chome
Chiyoda-Ku 102-0072
Tokyo 102-8401
Japan
Phone: +81 3 6678 0712
Fax: +81 3 3347 5845
Web site: http://www.kddi.com./english/index.html
PIONEER CORPORATION: Unveils 60th Semiannual Business Report
------------------------------------------------------------
In the first half of the 60th accounting period, ended September
30, 2005, consolidated operating revenue of Pioneer Corporation
was JPY349,898 million, up 1.4% over the previous year.
However, net loss of JPY12,261 million was posted for the
period, compared to net income of JPY4,809 million in the
corresponding period of the previous year. This loss was
principally caused by lower market prices for our main products
due to more severe competition, resulting in a decrease of gross
profit margins.
Reflecting the impact of continued severe business conditions,
the company have set interim dividend payments at JPY7.5 per
share of common stock, a decrease of JPY5.0 from that for the
corresponding period last year.
The business environment remains severe, characterized by
uncertain economic conditions, particularly as the rising prices
of crude oil and other raw materials may exert negative impact
on the economies of Japan and the U.S., in which consumer
spending had been steady.
Also, price competition is increasingly tough in markets for our
key products.
Despite these difficult conditions, the company is committed to
becoming profitable again by reviewing every aspect of our major
business fields, reinvesting our resources in advanced, high-
quality, value added products that identify the core value of
our Company, and enhancing our brand equity.
In the plasma display business, the company has been reinforcing
our production capacity, as the market rapidly expands. Incoming
orders, however, did not reach the levels the company had
planned for in the OEM (original equipment manufacturing) plasma
display business, so the company decided to adjust total
production output until demand recovers.
As the company keeps cutting costs extensively, it will continue
to develop and launch unique products of superior innovation,
performance and function. The company is making efforts to
enhance the value and strength of the Pioneer brand and to
expand plasma display sales.
In the DVD business, the market is rapidly expanding, especially
in DVD recorders and DVD drives for personal computers (PCs),
while product prices are falling sharply. To overcome the
competition, the company must introduce more advanced products
as early as possible, in addition to carrying out more cost
cutting in production in China. The company is aggressively
reviewing our development and design process, aiming to enhance
speed and efficiency of development, and to precede our
competitors in supplying markets with products that customers
welcome.
In the car electronics business, the company is determined to
maintain a leading position in the consumer market by
reinforcing our car audio operations in the fast-growing markets
of China, Central and South America and Russia. Developing
products that differentiate us from our industry competitors
will help extend the value of our brand. Our car navigation
operations are renowned in Japan, where our sales efforts are as
aggressive as ever. The company is making a similarly bold push
to fortify and extend our operations for this business in Europe
and North America. In our business with automobile
manufacturers, the company is capitalizing on its product
planning expertise in the consumer market, and proposes
innovative products to open up new business opportunities and
increase sales.
Along with our ongoing efforts to improve management efficiency,
the company is advancing discussion on a restructuring that may
include renewal of the Pioneer group business structure, as well
as consequent consolidation of plants and offices and review of
staffing. These measures, plus inventory reduction through
better supply chain management, will help us return to
profitability and improve cash flows.
We greatly appreciate the support that you have always given us.
The company is doing everything in our power to overcome the
present difficulties and to improve shareholder value.
For a copy of the press release, go to
http://bankrupt.com/misc/tcrap_pioneer120505.pdf
December 2005
Tokyo, Japan
Kaneo Ito
President and Representative Director
SHOWA AIRCRAFT: R&I Affirms BBB- Rating
---------------------------------------
Rating and Investment Information, Inc. (R&I) has affirmed the
BBB- rating of Showa Aircraft Industry Co. Limited. The rating
agency has placed a negative outlook.
RATIONALE:
Showa Aircraft Industry Co., Ltd., is a manufacturer of
transport equipment affiliated with Mitsui Engineering &
Shipbuilding Co., Ltd. The company is also developing a real
estate leasing business that includes commercial facilities and
warehouses in Akishima, Tokyo. The operating deficit in the
manufacturing division has persisted as sales keep declining due
to the withdrawal from the truck cabin fabrication business and
the slump in the market for special purpose vehicles.
The company secures a certain level of earnings from real estate
leasing using the vast amount of land it owns on the north side
of JR Akishima Station, but earning potential and capacity to
generate cash flow are weak on the company-wide basis. The
reorganization of the manufacturing division and
commercialization of idle land are challenges, but R&I continues
to give a positive evaluation to the fact that the massive value
of the company's real estate provides scope both in terms of
time and funds, and it has affirmed the Issuer Rating of BBB-.
Nevertheless, there are plans of a large-scale shopping center
opening nearby which could have a negative impact on the area of
Showa's customer drawing power and future development plans.
Furthermore, the manufacturing division of Showa Aircraft is
lagging in turning itself profitable.
CONTACT:
Showa Aircraft Industry Co. Ltd.
13-12 Nishi-Shinjuku 1-chome
Shinjuku-ku, Tokyo
SONY CORPORATION: Unveils New Early Retirement Plan
---------------------------------------------------
Sony Corporation has launched an early retirement initiative
aimed at non-core operations as part of its plans to reduce
workforce by 10,000 worldwide by the end of fiscal 2007, Nihon
Keizai Shimbun reports.
Sony exempted engineers from the program to maintain its product
development capabilities, the reports said, adding that the
company had begun seeking early retirement volunteers in such
noncore areas as human resources and accounting at its
headquarters as of Friday.
CONTACT:
Sony Corporation
7-35 Kitashinagawa 6-Chome
Shinagawa-Ku 141-0001, Tokyo 141-0001
JAPAN
Phone: +81 3 5448 2111
Fax: +81 3 5448 2244
=========
K O R E A
=========
CITIBANK KOREA: Striking Workers Fail to Achieve Goal
-----------------------------------------------------
The unionized workers of Citibank Korea failed to reach a
settlement with the bank's management as it ended its two-day
strike, The Korea Times reports.
The union and Citibank's management have held 20 rounds of talks
over the past three months, but until now both parties have not
reached a compromise. The union members demanded equal treatment
among KorAm employees and Citibank employees.
Citibank Korea was launched in November last year in a merger
between the local banking unit of U.S.-based financial giant
Citigroup and KorAm, then the country's seventh-largest lender.
Citibank Korea CEO Ha Yung-ku earlier said the management is
ready to negotiate, but that labor-management relations are
deemed too rigid for a foreign-controlled bank.
As a result of the labor dispute between the two parties,
Citibank has delayed a plan to merge the banking system of
Citibank and KorAm, causing concern and inconvenience to
customers.
CONTACT:
Citigroup PAO Office
Citibank Korea Inc.
39, Da-Dong, Chung-gu
Seoul, Korea 100-180
Telephone: 82-2-3455-2114
Fax: 82-2-3455-2966
Media Matters
Sun-Oh Park
Telephone: 82-2-3455-2340
Administrative Matters
Kun-Sang Kim
Telephone: 82-2-3705-0609
SAMSUNG MOTORS: Creditors to File Lawsuit Against Group Chairman
----------------------------------------------------------------
Creditors of Samsung Motor Co. sought damage claims for KRW4.7
trillion from Samsung Group and group Chairman Lee Kun-hee, The
Korea Times reveals.
The creditors will file a claim for KRW4.7 trillion on Dec. 9,
2005. The move came after Mr. Lee failed to keep his promise to
compensate creditors for Samsung Motors' insolvency in late
1990s.
Rumors have it that some Renault officials want to ditch Renault
Samsung Motors, its Korean operation due to poor sales and legal
troubles between Samsung and its creditors. Samsung Card, the
group's money-lending unit, holds a 19.9 percent stake in
Renault Samsung as the second-largest shareholder.
Equity funds are regarded as possible candidates, if speculation
is successful.
In a recent TCR-Asia Pacific report it was stated that Samsung
Group has been fighting a battle over the automakers' unpaid
debt worth about KRW4.7 trillion. In an agreement with the
automakers' creditors, Mr. Lee guaranteed his shares in Samsung
Life Insurance Co. as debt payment for Samsung Motor. During
that time, Samsung Life's share was valued at KRW700,000 on the
assumption that it would be listed.
But the Financial Supervisory Commission did not allow Samsung
Life' shares to be listed on the stock market due to the
insurer's reluctance to distribute dividends to policyholders
after the planned listing. The group even failed to pay
interest.
===============
M A L A Y S I A
===============
AFFIN HOLDINGS: Bourse to List, Quote New Shares
------------------------------------------------
Affin Holdings Berhad advised that its additional 120,000 new
ordinary shares of MYR1.00 each issued pursuant to the
Employees' Share Option Scheme will be granted listing and
quotation by Bursa Malaysia Securities Berhad with effect from
9:00 a.m., Wednesday, December 7, 2005.
CONTACT:
Affin Holdings Berhad
Jalan Bukit Bintang
55100 Kuala Lumpur, Kuala Lumpur 55100
Malaysia
Telephone: +60 3 2142 9569 / +60 2143 1057
AIC CORPORATION: Books MYR7,081,000 Net Loss in 3Q/FY05
-------------------------------------------------------
AIC Corporation Berhad submitted to Bursa Malaysia Securities
Berhad its Third Quarter report for the financial period ended
September 30, 2005.
Summary of Key Financial Information
September 30, 2005
Individual Period Cumulative Period
Current Year Preceding Year Current Year Preceding Year
Quarter Corresponding to Date Corresponding
Quarter Period
30/09/2005 30/09/2004 30/09/2005 30/09/2004
MYR'000 MYR'000 MYR'000 MYR'000
(1) Revenue
48,457 50,232 134,720 131,023
(2) Profit/(loss) before tax
-7,879 -707 -20,237 -1,392
(3) Profit/(loss) after tax and minority interest
-7,081 -1,107 -18,551 -2,534
(4) Net profit/(loss) for the period
-7,081 -1,107 -18,551 -2,534
(5) Basic earnings/(loss) per shares (sen)
-6.81 -1.07 -17.85 -2.44
(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)
1.3400 1.5100
To view a full copy of the financial statement, go to
http://bankrupt.com/misc/AICCorporationSept2005.doc
CONTACT:
AIC Corporation Bhd
Wisma AIC, Lot 3, Pesiaran Kemajuan,
Seksyen 16, Shah Alam Selangor 40200 Malaysia
Telephone: 03-55431413
Fax: 03-55432045
ANTAH HOLDING: Fails to Submit Annual Audited Accounts
------------------------------------------------------
Antah Holding Berhad advised Bursa Malaysia Securities Berhad
that it has not submitted its Annual Audited Accounts (AAA) for
the FYE June 30, 2004 as at the date of this announcement, i.e.
November 30, 2005.
In compliance with the paragraph 9.26 (3)(b) of the Bursa
Securities LR, the Company makes this announcement on the
aforesaid failure to submit its AAA for the FYE June 30, 2004.
The failure is because the Company's Auditors, Messrs. BDO
Binder is seeking confirmation on additional queries, to which
the Company is currently addressing.
The status of the non-submission of the AAA was also discussed
and deliberated at the Company's Audit Committee meeting and
Board of Directors meeting held on November 29, 2005. The
Company's tentative timeline to achieve the issuance of the AAA
for the FYE June 30, 2004 is as follows:
Description Timeline Status
(1) Resolution of audit queries Mid December 2005 On going
(2) Finalizing and signing of AAA Mid December 2005 To be
achieved
(3) Issuance of notice of General Meeting (including AAA) End
December 2005 To be achieved
As a consequence of the non-compliance with the Bursa Securities
LR under paragraph 9.23 in relation to non-issuance of the AAA
for the FYE June 30, 2004, Bursa Securities may commence de-
listing procedures against the Company.
This announcement is dated 30 November 2005.
CONTACT:
Antah Holding Berhad
9577 Jalan SS16/1 Subang Jaya
47500 Petaling Jaya Selangor
Telephone: 03-5632 8668
Fax: 03-5635 1234
BELL & ORDER: Unveils Relevant Dates for Rights Issue
-----------------------------------------------------
Bell & Order Berhad (B&O) issued to Bursa Malaysia Securities
Berhad details of the important relevant dates for 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 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 advised that the last date and time for:
(i) Splitting of provisional allotment of rights will be on
December 16, 2005 at 5:00 p.m.; and
(ii) Renunciation and payment, acceptance and payment for Rights
Shares and application and payment for excess shares will be on
December 23, 2005 at 5:00 p.m.
Barring unforeseen circumstances, copies of the Abridged
Prospectus together with the accompanying Provisional Allotment
Letter relating to the Rights Issue will be dispatched on
December 6, 2005 to the shareholders of B&O whose names appear
on the Record of Depositors of B&O as at December 1, 2005.
Entitled shareholders who do not receive the aforesaid documents
within three (3) days from the date of dispatch should notify
the Share Registrar of B&O, Insurban Corporate Services Sdn Bhd
at
149 Jalan Aminuddin Baki
Taman Tun Dr. Ismail
60000 Kuala Lumpur
Telephone: 03-7727 5573
This announcement is dated 30 November 2005.
CONTACT:
Bell & Order Berhad
28 & 30 Jalan Pjs 11/14
Bandar Sunway
Petaling Jaya 46150
Malaysia
Phone: 03 - 56336966
Fax: 03 - 56345081
BUKIT KATIL: To Convene AGM December 23
---------------------------------------
The Board of Director of Bukit Katil Resources Bhd informed
Bursa Malaysia Securities Berhad that the Ninetieth Annual
General Meeting of the Company will be held at Crown Hall 1,
Crystal Crown Hotel, No. 12, Lorong Utara A, off Jalan Utara,
46200 Petaling Jaya, Selangor Darul Ehsan on Friday, December
23, 2005 at 10:00 a.m.
To view a full copy of the AGM notice, go to
http://bankrupt.com/misc/BukitKatilAGMNotice.pdf
CONTACT:
Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela, Pusat Bandar
Damansara, Damansara Heights
Kuala Lumpur, 50490 Malaysia
Phone: +60 3 2095 7077
Fax: +60 3 2094 9940
DENKO INDUSTRIAL: Net Loss Dips to MYR224,000 in 2Q/FY05
--------------------------------------------------------
Denko Industrial Corporation Berhad furnished Bursa Malaysia
Securities Berhad a copy of its Second 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
30,805 30,447 54,524 62,570
(2) Profit/(loss) before tax
261 -333 149 -1,479
(3) Profit/(loss) after tax and minority interest
-224 -455 -909 -1,757
(4) Net profit/(loss) for the period
-224 -455 -909 -1,757
(5) Basic earnings/(loss) per shares (sen)
-0.30 -0.62 -1.23 -2.40
(6) Dividend per share (sen)
0.00 0.00 0.00 0.00
As at end of As at Preceding
Current Quarter Financial Year End
(7) Net tangible assets per share (MYR)
0.4145 0.4294
To view a full copy of the financial statement, go to
http://bankrupt.com/misc/DenkoIndustrialConsoleACSeptember2005.x
ls
To view a full copy of the notes to FS, go to
http://bankrupt.com/misc/DenkoIndustrialNotes30September2005.doc
CONTACT:
Denko Industrial Corp. Berhad
Lot 4.21, 4th Floor, Plaza Prima
4 1/2 Miles, Jalan Klang Lama
58200 Kuala Lumpur
Telephone: 03-7983 9099
Fax: 03-7981 7629
FEDERAL FURNITURE: Incurs Net Loss in 3Q/FY05
---------------------------------------------
Federal Furniture Holdings (M) Berhad submitted to Bursa
Malaysia Securities Berhad a copy of its Third Quarter report
for the financial period ended September 30, 2005.
Summary of Key Financial Information
September 30, 2005
Individual Period Cumulative Period
Current Year Preceding Year Current Year Preceding Year
Quarter Corresponding to Date Corresponding
Quarter Period
30/09/2005 30/09/2004 30/09/2005 30/09/2004
MYR'000 MYR'000 MYR'000 MYR'000
(1) Revenue
10,297 8,343 38,501 29,782
(2) Profit/(loss) before tax
-1,609 -1,121 -3,977 -4,346
(3) Profit/(loss) after tax and minority interest
-1,768 -1,101 -2,293 -4,818
(4) Net profit/(loss) for the period
-1,768 -1,101 -2,293 -4,818
(5) Basic earnings/(loss) per shares (sen)
-6.39 -3.98 -8.28 -17.41
(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)
-0.0594 0.0232
To view a full copy of the financial statement, go to
http://bankrupt.com/misc/FederalFurnitureKLSE3Q05.xls
To view a full copy of the notes to FS, go to
http://bankrupt.com/misc/FederalFurnitureklse3q05nt.doc
CONTACT:
Federal Furniture Holdings (M) Berhad
Suite 1501B Menara Choy Fook On
1B Jalan Yong Shook Lin, Section 7
46050 Petaling Jaya
Telephone: 03-7955 9937
Fax: 03-7956 2812
Web site: http://www.federal-furniture.com
FOREMOST HOLDINGS: Sees no Changes to Default Payment Status
------------------------------------------------------------
In compliance with Paragraph 3.2 of PN1/2001, the Board of
Directors of Foremost Holdings Berhad informed Bursa Malaysia
Securities Berhad that there is no change to the status of
default in payments of interest and principal sums to the
lenders since the last announcement made on October 20, 2005.
However, the Company is in the process of negotiating with its
lenders to restructure the said loans and is actively working on
various schemes to regulate its financial position.
The Board of Directors of the Company will make available to
Bursa Malaysia Securities Berhad its plan to regularize once
completed.
This announcement is dated 30 November 2005.
FOREMOST HOLDINGS: Net Loss Rises to MYR6,362,000 in 3Q/FY05
------------------------------------------------------------
Foremost Holdings Berhad submitted 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
51,312 50,784 108,060 138,962
(2) Profit/(loss) before tax
-5,632 1,086 -10,348 -4,006
(3) Profit/(loss) after tax and minority interest
-6,362 446 -11,329 -3,095
(4) Net profit/(loss) for the period
-6,362 446 -11,329 -3,095
(5) Basic earnings/(loss) per shares (sen)
-12.09 1.02 -21.53 -7.06
(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 0.5600
To view a full copy of the financial statement, go to
http://bankrupt.com/misc/ForemostHoldingsQ3ofFY2005.xls
To view a full copy of the notes to FS, go to
http://bankrupt.com/misc/ForemostHoldingsNotesQ32005.doc
KILANG PAPAN: To Formulate New Debt Revised Restructuring Scheme
----------------------------------------------------------------
Further to the announcement on December 2, 2005, Kilang Papan
Seribu Daya Berhad clarified to Bursa Malaysia Securities Berhad
that the Proposed Restructuring Scheme as submitted to the
Securities Commission cannot be implemented as the Special
Administrators appointment has been terminated by Pengurusan
Danaharta Nasional Berhad.
The directors are presently exploring options available to
formulate a new Debt Revised Restructuring Scheme with the
creditors of the company and will revert to Bursa Malaysia as
soon as the same is formalized with the creditors.
CONTACT:
Kilang Papan Seribu Daya Berhad
Lot 1, Harmoni Industrial Estate Inanam
88100 Kota Kinabalu, Sabah
Telephone: 088-423385
Fax: 088-423287
NEXNEWS BERHAD: Net Loss Widens to MYR93,974,000 in 3Q/FY05
-----------------------------------------------------------
Nexnews Berhad furnished Bursa Malaysia Securities Berhad a copy
of its Third Quarter report for the financial period ended
September 30, 2005.
Summary of Key Financial Information
September 30, 2005
Individual Period Cumulative Period
Current Year Preceding Year Current Year Preceding Year
Quarter Corresponding to Date Corresponding
Quarter Period
30/09/2005 30/09/2004 30/09/2005 30/09/2004
MYR'000 MYR'000 MYR'000 MYR'000
(1) Revenue
15,711 16,643 46,502 46,604
(2) Profit/(loss) before tax
-93,018 161 -93,943 -295
(3) Profit/(loss) after tax and minority interest
-93,974 -713 -97,027 -2,155
(4) Net profit/(loss) for the period
-93,974 -713 -97,027 -2,155
(5) Basic earnings/(loss) per shares (sen)
-111.38 -1.02 -118.87 -3.11
(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)
0.2700 0.3800
To view a full copy of the financial statement, go to
http://bankrupt.com/misc/NexNewsBerhad3QResults3092005.xls
NEPLINE BERHAD: Posts MYR731,000 Net Loss in 3Q/FY05
----------------------------------------------------
Nepline Berhad furnished 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
4,888 7,720 20,594 22,058
(2) Profit/(loss) before tax
-806 765 -1,916 1,562
(3) Profit/(loss) after tax and minority interest
-731 763 -1,809 1,540
(4) Net profit/(loss) for the period
-731 763 -1,809 1,540
(5) Basic earnings/(loss) per shares (sen)
-1.00 1.04 -2.47 2.10
(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)
1.0600 1.1800
To view a full copy of the financial statement, go to
http://bankrupt.com/misc/NeplineBerhad3rdQtr2005.xls
CONTACT:
Nepline Berhad
Level 11, Wisma Maritim,
No. 4, Persiaran Sukan,
Seksyen 13,
Shah Alam Selangor 40100
Malaysia
Telephone: 03-50315000
Fax: 03-50318186
PANGLOBAL BERHAD: Incurs Net Loss in 3Q/FY05
--------------------------------------------
Panglobal Berhad advised 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
77,495 63,711 220,574 187,349
(2) Profit/(loss) before tax
-26,801 -17,204 -76,230 -44,076
(3) Profit/(loss) after tax and minority interest
-27,099 -17,222 -77,014 -44,751
(4) Net profit/(loss) for the period
-27,099 -17,222 -77,014 -44,751
(5) Basic earnings/(loss) per shares (sen)
-19.34 -12.29 -54.96 -31.94
(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)
-2.1800 -1.6300
CONTACT:
Panglobal Bhd
Level 33, Menara Panglobal,
8 Jalan Sultan Ismail,
Kuala Lumpur
Wilayah Persekutuan 50250
Malaysia
Telephone: 03-20319199
Fax: 03-20323977
PANTAI HOLDINGS: Unveils Composition of Board
---------------------------------------------
Pantai Holdings Berhad advised Bursa Malaysia Securities Berhad
that at the Thirty Third Annual General Meeting of Pantai
Holdings Berhad held on November 30, 2005, the shareholders
present has passed all the resolutions tabled thereat.
The Board of Directors of the Company is now comprised of the
following persons:
(1) Dato' Lim Tong Yong @ Lim Tong Yaim (Group Chief Executive
Officer - Executive Director);
(2) Dr. Lim Cheok Peng (Non-Independent & Non-Executive
Director);
(3) Ashish Jaiprakash Shastry (Non-Independent & Non-Executive
Director);
(4) Vivek Jetley (Non-Independent & Non-Executive Director);
(5) Foo Moh Lee (Non-Independent & Non-Executive Director);
(6) Eliza Jasmin Binti Hashim (Independent & Non-Executive
Director); and
(7) Michael Lim Hee Kiang (Independent & Non-Executive
Director).
The Secretary of the Company is Noel Chua (LS 005781).
In view of the passing of Resolution No. 10, the Auditors of the
Company has been changed from Messrs. Deloitte KassimChan to
Messrs. KPMG.
CONTACT:
Pantai Holdings Berhad
8 Jalan Damansara Endah
Damansara Heights Kuala Lumpur, Malaysia 50490
Malaysia
Telephone: +60 3 2713 2282 / +60 3 2094 4528
POS MALAYSIA: Issues New Shares for Listing, Quotation
------------------------------------------------------
POS Malaysia & Services Holdings Berhad advised that its
additional 131,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employee Share Option Scheme will be granted
listing and quotation with effect from 9:00 a.m., Friday,
December 2, 2005.
CONTACT:
Pos Malaysia & Services Holdings Berhad
189 Jalan Tun Razak
50400 Kuala Lumpur, 50400
Malaysia
Telephone: +60 3 2166 2323 / +60 3 2166 2266
SOUTHERN BANK: New Shares Up for Listing, Quotation
---------------------------------------------------
Southern Bank Berhad advised that its additional 339,600 new
ordinary shares of MYR1.00 each arising from the;
(I) Exercise 214,400 Warrants 1996/2006 (Local Warrants)
(II) Exercise of 125,200 Warrants 1996/2006 (Foreign Warrants)
will be granted listing and quotation with effect from 9:00
a.m., Wednesday, December 7, 2005.
CONTACT:
Southern Bank Berhad
83 Medan Setia 1 Plaza Damansara Bukit
Damansara, 50490 Kuala Lumpur, Kuala Lumpur 50490
Malaysia
Telephone: +60 3 2087 3000
Fax: +60 3 2093 3157
=====================
P H I L I P P I N E S
=====================
C&P HOMES: Bourse Halts Trading Re Capital Restructuring
--------------------------------------------------------
This is on reference to the news article entitled "SEC okays C&P
Homes' capital increase to Php7 B" published in the December 3,
2005 issue of The Philippine Star.
The article reported in part that:
"The Securities and Exchange Commission (SEC) has approved the
plan of low-cost housing developer C&P Homes Inc. to raise its
authorized capital stock to Php7 billion, from Php500 million.
The capital build-up forms part of C&P's capital and debt
restructuring program aimed at cleaning up its books."
The Philippine Stock Exchange (PSE) implemented a trading halt
at 9:00 a.m., Monday, Dec. 5, 2005, on the shares of C&P Homes
Inc. with regard to the above-quoted news article.
Based on inquiry with the Securities and Exchange Commission
(SEC), the PSE was advised of the approval of the capital
restructuring of the Company and the corresponding amendments to
its Articles of Incorporation. The proposed capital
restructuring of the Company was disclosed in Circular for
Brokers Nos. 4322-2005 dated Sept. 26, 2005, 4425-2005 dated
Oct. 3, 2005, 4586-2005 dated Oct. 12, 2005 and 5017-2005 dated
Nov. 14, 2005.
In view thereof, the PSE shall implement a trading suspension on
the Company's shares effective Monday, Dec. 5, 2005. Lifting of
the trading suspension shall be subject to the submission by the
Company of the disclosure on the said SEC approval, as well as
the approval by the PSE of the reduction in the number of listed
shares pursuant to its capital restructuring.
The PSE shall inform the Trading Participants and the investing
public of further developments on the matter.
CONTACT:
C&P Homes Incorporated
Las Pinas Business Centre
National Road, Las Pinas City
Phone: 874-5758; 873-2178; 772-1093; 726-6143
Fax: 872-4697; 726-6143
E-mail: ltan@cmphomes.com.ph
Web site: http://www.cmphomes.com.ph
MAYNILAD WATER: Advocacy Group Wants Rehab Blocked
--------------------------------------------------
A Commission on Audit (CoA) report regarding Maynilad Water
Services Inc.'s rehabilitation plan will be submitted to the
Supreme Court to back a non-government group's move to stop the
firm's ongoing rehabilitation, BusinessWorld reports.
The Freedom from Debt Coalition said CoA's report, which found
Maynilad's rehabilitation grossly disadvantageous to the
government, supports the case earlier filed by the coalition
before the Supreme Court seeking to junk the water firm's
rehabilitation.
In an Oct. 25 report, the state auditor found that
rehabilitation plan of Maynilad is not beneficial to the state-
owned Metropolitan Waterworks and Sewerage System (MWSS).
In a position paper submitted to the MWSS, CoA said the
regulator is not authorized by its charter to provide financial
assistance to Maynilad, as called for in the rehabilitation
plan's debt and capital restructuring agreement.
The revised rehabilitation plan, approved by a Quezon City court
last April, paves the way for the exit of Lopez-owned Benpres
Holdings Corp. from the financially troubled water distributor.
CONTACT:
Maynilad Water Services Inc.
G/F MWSI Building, Katipunan Road
MWSS Compound, Balara
Quezon City
Philippines
NATIONAL POWER: PSALM Mulls US$500-Mln Loan in 2006
---------------------------------------------------
The Power Sector Assets and Liabilities Management Corp. (PSALM)
is considering borrowing at least US$500 million next year to
fund huge debt payments of National Power Corporation (Napocor),
reports The Manila Times.
PSALM, the agency handling the sale of Napocor assets, borrowed
about US$600 million this year in the local and foreign markets
to fund capital expenditures and pay maturing debt of the state-
owned power firm.
Napocor, the single biggest strain on the government's finances,
wants to sell dozens of power plants and privatize the state-
controlled power grid to raise about US$5 billion to pay its
debts, but has made little progress.
The Philippine government, Asia's most active issuer of
sovereign bonds after Japan, this year assumed about Php200
billion (US$36.9 million) of Napocor's total debt of almost
Php600 billion to try to speed up the sale of its assets to
private investors.
Napocor is projected to break even from its operations this year
after a net loss of Php29.9 billion in 2004.
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: YNN Assures US$222-Mln Down Payment
---------------------------------------------------
The winning consortium for National Power Corporation's
(Napocor) Masinloc power facility said t would comply with the
conditions and deadline set by the Power Sector Assets and
Liabilities Management Corp., according to The Manila Standard.
PSALM has asked YNN to pay the upfront fee of US$222 million for
Napocor's 600-megawatt Masinloc coal-fired power plant not later
than March 31, 2006.
Under an asset purchase agreement, PSALM must set YNN's deadline
for the remittance of the upfront payment and closing
deliverables after the government agency completes all
conditions to the sale, including consent of creditors like the
World Bank, Asian Development Bank and the Japan Bank for
International Cooperation.
PSALM complied with all conditions on Nov. 25.
YNN was also asked to execute an undertaking stipulating that
the consortium would deliver in mid-January 2006 an amended
performance bond effective until August 2006.
If YNN fails to deliver the amended bond, PSALM can forfeit the
original bond.
* Moody's Says 2006 Revenue Goals 'Not Realistic'
-------------------------------------------------
Moody's Investors Service claimed the government's revenue
projections for 2006 are "not realistic", Malaya reports.
The rating agency, which is set to visit the Philippines on Dec.
7, has asked the government to review its revenue assumptions
for next year given the economy's sluggish third-quarter growth.
For 2006, the government targets to raise Php968.6 billion in
revenues representing 16 percent of gross domestic product. The
2006 program is 24 percent higher than the Php783.2 billion
target this year.
The government has scaled down its growth target for 2006 to 5.7
percent from 6.3 to 7.3 percent to take into account the impact
of high oil prices and the E-VAT.
For next year, Moody's said the government must reduce its
dependence on external commercial financing to lessen its
vulnerability to external pressures.
Moody's also expressed concern that the government is not doing
enough to fast track the sale of National Power Corporation's
(Napocor) assets, which is weighing heavily on the consolidated
public sector debt.
Moody's has not given an indication of the direction of its
analysis for the country's rating following the implementation
of the expanded VAT.
In July, the New York-based rating agency lowered the outlook on
the country's rating to negative from stable following the
political uncertainty generated by the election-fraud
accusations against President Arroyo.
The rating firm, however, kept its `B1' rating, which is four
levels below investment grade.
Moody's is set to assign a new rating for the country by
February next year.
=================
S I N G A P O R E
=================
DIGILAND INTERNATIONAL: Bourse OKs Share Listing
------------------------------------------------
Digiland International Limited announces that the Singapore
Exchange & Securities Trading Limited (SGX-ST) has given its in-
principle approval for the listing and quotation of new shares
in the Company's issued and paid-up share capital. The Company
has also dispatched a circular regardinng its extraordinary
general meeting to beheld on Dec. 27, 2005.
To view the Company's statement on the matter, click on:
http://bankrupt.com/misc/tcrap_digilandinternational120505.pdf
CONTACT:
Digiland International Limited
31 Ubi Road 1
#02-00 Aztech Building
Singapore 408694
Phone: 65 6788 9898
Fax: 65 6369 1613
Web site: http://www.digiland.com.sg
FIRSTLINK INVESTMENTS: Discontinues Property Sale to Trivec
-----------------------------------------------------------
Firstlink Investments Corporation Limited announces that with
regard to the proposed sale of its industrial building at 506
Chai Chee Lane, Singapore to purchaser Trivec Singapore Pte
Limited, both firms have by mutual consent agreed to terminate
the sale & purchase agreement.
The Company will continue to seek purchasers for the property.
By Order of the Board
Lee Yuen Wai
Deputy Chairman
Dec. 2, 2005
CONTACT:
Firstlink Investments Corporation Limited
6 Battery Road
Singapore 049909
Phone: 65 6448 6211
Fax: 65 6445 2506
GRAINSFIELDS FOOD: Creditors Finalize Wind Up Process
-----------------------------------------------------
Notice is hereby given that a meeting of the creditors of
Grainsfields Food Industries Pte Limited will be held on Dec.
13, 2005, 11:00 a.m. at AEC Centre, 141 Market Street,
International Factors Building, Singapore 048944, for the
following purposes:
AGENDA
1. To lay the Company's Receipts & Payments before its
creditors;
2. To approve preferential payments pursuant to the provisions
of the Companies Act, Chapter 50;
3. To finalize the Liquidation process; and
4. Any other matters.
Dated this 1st December 2005
Don M. Ho, FCPA
Liquidator
C/o Don Ho & Associates
Certified Public Accountants, Corporate Advisory & Recoveries
20 Cecil Street
#12-02 & 03 Equity Plaza
Singapore 049705
Phone: 65 6532 0320 (8 lines)
Fax: 65 6532 0331
Note:
To entitle a creditor to vote at the meeting, proof of debt must
be lodged at the Liquidator's office not less than forty-eight
hours before the scheduled time of such meeting.
HESHE HOLDINGS: CEO Buys Shares
-------------------------------
Heshe Holdings Limited announced that its Chief Executive
Officer Chng Weng Wah served the Company with a notice to
exercise his option to subscribe for 36 million shares (at
SGD0.05 each) in its share capital, as part of the investment
agreement between the Company and Mr. Chng.
Once the exercise is completed, the Company will receive a total
of SGD1.98 million from the share sale.
To view the Company's statement on the matter, go to:
http://bankrupt.com/misc/tcrap_hesheholdings120505.pdf
CONTACT:
Heshe Holdings Limited
78 Shenton Way
#20-01 MCL Land Building
Singapore 079120
Phone: 65 6372 4300
Fax: 65 6220 4327
Email: contacts@heshe.com.sg
Web site: http://www.heshe.com.sg
L&M GROUP: Court Adjourns Judicial Management Case
--------------------------------------------------
L&M Group Investments Limited announces that as an update to its
application to seek a judicial manager, the hearing for the
application was adjourned to a date to be fixed by the Singapore
High Court, and a pending winding up petition filed by Mr. Yeo
Boon Siah against the Company was also adjourned, pending the
outcome of the judicial management application.
The Company will make further announcements to update
developments on the Application.
CONTACT:
L & M Group Investments Pte Limited
28 Tuas Crescent
Singapore 638719
Phone: 65 6268 8688
Fax: 65 6265 5511
MAY LEE: Creditor Files Winding Up Petition
-------------------------------------------
Notice is hereby given that Singapore Food Industries Limited, a
creditor of May Lee Heng (Pte) Limited, filed a winding up
petition against the Company with the Singapore High Court on
Nov. 16, 2005.
The Petition is directed to be heard before the Court sitting in
Singapore on Dec. 9, 2005, 10:00 a.m.
Any Company creditor or contributory desiring to support or
oppose the making of an order in the said petition may appear at
the time of hearing by himself or his counsel for that purpose.
A copy of the Petition will be furnished to any Company creditor
or contributory requiring the same by the undersigned on payment
of the regulated charge for the same.
The Petitioner's address is 234 Pandan Loop, Singapore 128422.
The Petitioner's solicitors are Messrs P. Tan & Company of 133
New Bridge Road, #15-07 Chinatown Point, Singapore 059413.
Messrs P. Tan & Company
Solicitors for the Petitioner
Note:
Any person who intends to appear at the hearing of the said
Petition must serve on or send by post to solicitors Messrs P.
Tan & Company of 133 New Bridge Road, #15-07 Chinatown Point,
Singapore 059413, a written notice of his intention so to do.
The notice must state the name and address of the person, or if
a firm, the name and address of the firm, and must be signed by
the person or firm, or their solicitors (if any) and must be
served, or if posted must be sent by post in sufficient time to
reach the abovenamed not later than 12:00 p.m. of Dec. 8, 2005.
REALCENTRE PTE: Appoints Official Liquidator
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Realcentre Pte Limited held on Nov. 23, 2005, the following
Special Resolutions were passed:
(1) That the Company be wound up voluntarily.
(2) That Mr. Kuek Buck Hiong of 133 New Bridge Road #10-04,
Chinatown Point, Singapore 059413, be and is hereby appointed
Liquidator for the winding up; and that he be indemnified by the
Company against costs, charges and expenses incurred or
sustained by him in the execution and discharge of his duty in
connection with the liquidation.
Dated: Nov. 25, 2005
Kuek Buck Hiong
Liquidator
133 New Bridge Road,
#10-04 Chinatown Pont
Singapore 059413
UNISON PROJECTS: Court Orders Winding Up
----------------------------------------
Notice is hereby given that the Singapore High Court issued a
winding up order against Unison Projects Singapore Pte Limited
on Nov. 18, 2005, with the following details:
Name and Address of Liquidator: Yeo Ek Khuan and Ng Geok Mui
BDO Raffles
Certified Public Accountants
5 Shenton Way
#07-01 UIC Building
Singapore 068808
(a) All Company creditors should file their proof of debt
with the Liquidators in charge of the winding up.
(b) All debts due to the Company should be forwarded to the
Liquidators.
===============
T H A I L A N D
===============
THAI PETROCHEMICAL: Informs SET on Pending Petitions
----------------------------------------------------
Thai Petrochemical Industry Public Co. Ltd. advised the Stock
Exchange of Thailand (SET) that it was informed by its legal
office that there were two remaining legal emergency petitions
by the debtor's executive to the Central Bankruptcy Court.
The first is to halt the share offering to strategic investors
and secondly, to revise the share offering price to the
strategic investors.
The court will rule the first and the second petition on
December 9 and December 15, 2005 respectively.
However, the company also informed the SET that the above-
mentioned petitions have no repercussion toward the share-
offering price to the existing shareholders.
Your acknowledgement of the above-mentioned matter is highly
appreciated.
Yours Sincerely,
Suwit Nivartvong
The Plan Administrator for
Thai Petrochemical Industry Pcl
CONTACT:
Thai Petrochemical Industry Pcl
TPI Tower, Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Web site: http://www.tpigroup.co.th
TUNTEX THAILAND: Director Steps Down from Post
----------------------------------------------
The Board of Directors Meeting of Tuntex (Thailand) Public Co.
Ltd. held on December 1, 2005 resolved to approve the
resignation of Mr. Shan Hua Shen as director of the Company and
appoint Mr. Lin, Jung-Tsung to replace Mr. Shan Hua Shen as new
director of the Company, effective from December 1, 2005.
Please be informed accordingly
Sincerely yours,
Mr. Ratankumar Bisambhar Mukharji
Director
CONTACT:
Tuntex (Thailand) Pcl
Bb Building, Floor 20,
54 Sukhumvit 21 Road,
(Asoke) Klongtoey Nua,
Wattana Bangkok
Telephone: 0-2260-8020-41
Fax: 0-2260-8055
Web site: http://www.tuntexthailand.com
BOND PRICING: For the Week 5 December to 9 December 2005
--------------------------------------------------------
Issuer Coupon Maturity Price
------ ------ -------- -----
AUSTRALIA
---------
Advantage Group Ltd 10.000% 4/15/06 1
Ainsworth Game 8.000% 12/31/09 1
Amcom Telecommunications Ltd 10.000% 10/28/07 2
APN News & Media Ltd 7.250% 10/31/08 5
A&R Whitcoulls Group 9.500% 12/15/10 9
Arrow Energy NL 10.000% 3/31/08 1
Babcock & Brown Pty Ltd 8.500% 12/31/49 8
Becton Property Group 9.500% 6/30/10 1
BIL Finance Ltd 8.000% 10/15/07 8
BIL Finance Ltd 9.250% 10/15/06 9
Capital Properties NZ Ltd 8.500% 4/15/07 8
Capital Properties NZ Ltd 8.500% 4/15/09 8
Capital Properties Nz Ltd 8.000% 4/15/10 8
Cardno Limited 9.000% 6/30/08 4
CBH Resources 9.500% 12/16/09 1
Chrome Corporation Ltd 10.000% 2/28/08 1
Djerriwarrh Investments Ltd 6.500% 9/30/09 4
eBet Limited 10.000% 11/29/06 21
Evans & Tate Ltd 8.250% 10/29/07 1
Fletcher Building Ltd 7.550% 3/15/11 8
Fletcher Building Ltd 7.800% 3/15/09 8
Fletcher Building Ltd 7.900% 10/31/06 8
Fletcher Building Ltd 8.300% 10/31/06 8
Fletcher Building Ltd 8.600% 3/15/08 8
Fletcher Building Ltd 8.750% 3/15/06 8
Fletcher Building Ltd 8.850% 3/15/10 8
Fernz Corp Ltd 8.560% 10/15/06 8
Futuris Corporation Ltd 7.000% 12/31/07 2
Gympie Gold Ltd 8.500% 9/30/07 1
Hy-Fi Securities Ltd 7.000% 8/15/08 8
Hy-Fi Securities Ltd 8.750% 8/15/08 10
Hudson Timber Products Ltd 7.000% 12/31/10 1
Hutchison Telecoms Australia 5.500% 7/12/07 1
Infrastructure & Utilities NZ Ltd 8.500% 9/15/13 9
Investa Property Group Ltd 6.000% 5/28/08 6
Kagara Zinc Ltd 9.750% 5/06/07 2
Longreach Group Ltd 10.000% 10/31/08 1
MacArthur Coal 10.000% 12/11/05 5
Minerals Corporation Ltd 10.500% 9/30/07 1
Nuplex Industries Ltd 9.300% 9/15/07 8
Pacific Print Group Ltd 10.250% 10/15/09 11
Primelife Corporation 9.500% 12/08/06 1
Primelife Corporation 10.000% 1/31/08 1
Riversdale Mining Ltd 8.000% 12/31/05 2
Salomon SB Australia 4.250% 2/01/09 8
Sapphire Securities Ltd 9.150% 9/20/35 9
Sherlock Bay Nickel 12.000% 9/01/07 1
Silver Chef Ltd 10.000% 8/31/08 1
Software of Excellence 7.000% 8/09/07 1
Strathfield Group 11.000% 12/31/05 1
Sydney Gas Company 12.000% 4/01/06 1
Sydney Gas Limited 12.000% 6/01/06 1
Tower Finance Ltd 8.650% 10/15/09 8
Tower Finance Ltd 8.750% 10/15/07 9
TrustPower Ltd 8.300% 9/15/07 8
TrustPower Ltd 8.300% 12/15/08 8
TrustPower Ltd 8.500% 9/15/12 8
TrustPower Ltd 8.500% 3/15/14 8
Vision Systems Ltd 9.000% 12/15/08 2
KOREA
-----
Korea Electric Power 2.000% 4/01/96 54
MALAYSIA
--------
Aliran Ihsan Resources Bhd 5.000% 11/29/11 1
Artwright Holdings Bhd 5.500% 3/06/07 1
Asian Pac Holdings Bhd 4.000% 12/22/05 1
Berjaya Group Bhd 5.000% 10/17/09 1
Berjaya Land Bhd 5.000% 12/30/09 1
Camerlin Group Bhd 5.500% 7/15/07 1
Crescendo Corporation Bhd 3.000% 8/25/07 1
Crest Builder Holdings Bhd 7.000% 2/24/06 2
Dataprep Holdings Bhd 4.000% 8/06/07 1
Eden Enterprises (M) Bhd 2.500% 12/02/07 1
EG Industries Bhd 5.000% 6/16/10 1
Equine Capital Bhd 3.000% 8/26/08 1
Fountain View Development Sdn Bhd 3.500% 11/03/06 1
Furqan Business Organization 2.000% 12/19/05 1
Greatpac Holdings Bhd 2.000% 12/11/08 1
Gula Perak Bhd 6.000% 4/23/08 1
Hong Leong Industries Bhd 4.000% 6/28/07 1
Huat Lai Resources Bhd 5.000% 3/28/10 1
I-Berhad 5.000% 4/30/07 1
Insas Bhd 8.000% 4/19/09 1
Integrax Bhd 3.000% 12/24/05 1
Kamdar Group Bhd 3.000 11/09/09 1
Killinghall Bhd 5.000% 4/13/09 2
Konsortium Lebuhraya 4.000% 1/15/16 72
Konsortium Lebuhraya 4.000% 7/15/20 74
Konsortium Lebuhraya 4.000% 1/15/21 73
Konsortium Lebuhraya 4.000% 7/15/21 72
Konsortium Lebuhraya 4.000% 1/14/22 70
Kosmo Technology Industrial Bhd 2.000% 6/23/08 1
Kretam Holdings Bhd 1.000% 8/10/10 1
Kumpulan Jetson 5.000% 11/27/12 1
LBS Bina Group Bhd 4.000% 12/29/06 1
LBS Bina Group Bhd 4.000% 12/31/07 1
LBS Bina Group Bhd 4.000% 12/31/08 1
LBS Bina Group Bhd 4.000% 12/31/09 1
Lebar Daun Bhd 2.000% 1/06/07 3
Lion Diversified Holdings Bhd 2.000% 6/01/09 1
Media Prima Bhd 2.000% 7/18/08 1
Mithril Bhd 3.000% 4/05/12 1
Mithril Bhd 8.000% 4/05/09 1
Mutiara Goodyear Development Bhd 2.500% 1/15/07 1
Naim Indah Corporation Bhd 0.500% 8/24/06 1
Nam Fatt Corporation Bhd 2.000% 6/24/11 1
Pantai Holdings Bhd 5.000% 3/28/07 2
Pantai Holdings Bhd 5.000% 7/31/07 2
Patimas Computers Bhd 6.000% 2/19/06 1
Pelikan International Corp Bhd 3.000% 4/08/10 1
Poh Kong Holdings Bhd 3.000% 1/20/07 1
Prinsiptek Corporation Bhd 3.000% 11/20/06 1
Puncak Niaga Holdings Bhd 2.500% 11/18/16 1
Ramunia Holdings 1.000% 12/20/07 1
Rashid Hussain Bhd 0.500% 12/24/12 1
Rashid Hussain Bhd 3.000% 12/24/12 1
Rhythm Consolidated Bhd 5.000% 12/17/08 1
Silver Bird Group Bhd 1.000% 2/15/09 1
Southern Steel 5.500% 7/31/08 1
Tanah Emas Corporation Bhd 2.000% 12/09/06 1
Talam Corporation Bhd 7.000% 4/19/06 1
Tap Resources Bhd 2.000% 6/29/06 1
Tenaga Nasional Bhd 3.050% 5/10/09 1
Time Engineering Bhd 2.000% 12/25/05 1
VTI Vintage Bhd 4.000% 8/22/06 1
WCT Land Bhd 3.000% 8/02/09 1
Wah Seong Corp 3.000% 5/21/12 3
YTL Cement Bhd 4.000% 11/10/15 1
SINGAPORE
---------
Jurong Town Corporation 4.750% 12/01/05 1
Sengkang Mall 8.000% 11/20/12 1
Structural System Singapore 11.000% 6/30/07 1
Tampines Assets Ltd 5.625% 12/07/06 1
*********
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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