TCRAP_Public/051207.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

           Wednesday, December 7, 2005, Vol. 8, No. 242

                           Headlines

A U S T R A L I A

AB NORTHSHORE: Failure to Pay Debt Prompts Winding Up
AIR NEW ZEALAND: Carries 2.5% More Passengers in October 2005
ARTSTONE & PAVING: Court Orders Liquidation
ARTY CONSULTING: Members Resolve to Wind Up Firm
BATKIN PROPERTIES: Winds Up Operations

BFM DISTRIBUTION: Declares First, Final Dividend
BIG ROCK: Members Pass Winding Up Resolution
CARTER HOLT: Hart Inches Ahead in Takeover Bid
CHIRNSIDE GAS: Liquidator to Explain Wind Up to Members
ELENA INTERIOR: Intends to Distribute Final Dividend

FLIGHT CENTRE: Responds to Qantas Commission Change
FORTESCUE METALS: Fights BHP Line Over Pilbara Rail
FRANCLIFFE INVESTMENT: Appoints Official Liquidator
H. TREVAIL: Asks Creditors to Submit Debt Claims
J&A FITNESS: Creditors to Review Liquidator's Report

JPG'S RETAIL: Decides to Close Business
KINGSDOWN PTY: Court Releases Winding Up Order
MARRICKVILLE HOLDINGS: To Declare First Dividend
MULTIPLEX: Pair Accused Firm of False Extortion Link
MYER LIMITED: Potential Suitors Down to 10

NC MORGAN: Schedules Final Meeting Dec. 14
OYSTER ENTERPRISES: Court Orders Liquidation
PLEASURABLE PASTIMES: Enters Voluntary Liquidation
POST HASTE: Brent Kijurina Named Official Liquidator
PMP LIMITED: Boss Hints on Redundancies, Further Restructure

QUEENSLAND COACH: Members, Creditors to Discuss Winding Up
RJ'S TUGGERAH: Creditors Confirm Liquidator's Appointment
TELSTRA CORPORATION: Inks New Deal with Westpac


C H I N A  &  H O N G  K O N G

BANK OF CHINA: Expands RMB Service in Hong Kong
BRILLIANT MART: Prepares to Wind Up Business
HANVAST DEVELOPMENT: Issues Debt Claim Notice
KIDDER INDUSTRIAL: Enters Winding Up Process
MEDIMEDIA INTERNATIONAL: Creditors to Prove Claims by Jan. 3

NEW ASIA: Set to Wind Up Business
NFY NURSERY: First Creditors Meeting Fixed Dec. 16
SOL MELIA: Creditors Meeting Slated for Dec. 23
SUN FAT: Enters Bankruptcy
TOP ONEPOLYBAGS: Court Issues Bankruptcy Order

TRIPASA INDUSTRIES: Set to Wind Up Business
* China's "Big Four" Banks Inviting Foreign Investors Cautiously


I N D I A

BHARAT PETROLEUM: To Hold EGM for Merger with Kochi Refineries
ESCORTS FINANCE: CARE Revises FD Rating; On Rating Watch
IMP POWERS: Unveils AGM Outcome
MAX INDIA: Board Approves Scheme of Amalgamation
TWINSTAR SOFTWARE: Board Opts to Extend AGM


I N D O N E S I A

GARUDA INDONESIA: Plans to Fly to Europe Next Year
KALTIM PRIMA: Standard & Poor's Upgrades Credit Rating to BB-


J A P A N

FUJITSU LIMITED: To Expand Enterprise Ecosystem With Red Hat
KANEBO LIMITED: Kao Group Top Candidate in Buyout
MITSUBISHI MOTORS: Launches Next-generation Hybrid Concept-CT1
MITSUBISHI MOTORS: Wins Automobile Magazine's 2006 Award
OKUNIKKO KONISHI: IRCJ Completes Revitalization Plan

SANYO ELECTRIC: Sales Slide to US$4.7 Bln in 1H/2005
SPANSION TECHNOLOGY: Moodys Assigns B3 Rating
TOSHIBA CORPORATION: Responds to Court Ruling on U.S. Lawsuit
USUI DEPARTMENT: IRCJ Receives Debt Payment in Full


K O R E A

SSANGYONG MOTOR: To Reduce Production Level by 50%


M A L A Y S I A

AKTIF LIFESTYLE: No Change on Plans to Regularize Condition
ANCOM BERHAD: Issues Shares Buy Back Notice
AVENUE CAPITAL: Shareholders OK Scheme of Reorganization
BELL & ORDER: Passes All EGM Resolutions
CHG INDUSTRIES: Awaits SC's Permission to Revise Proposal

CYGAL BERHAD: No New Plan Development Info Available
DATUK KERAMAT: Financial Statements' Status Unchanged
DATUK KERAMAT: Share Trading Still Suspended
JIN LIN: Awaits SC's Response to Petition
KEMAYAN CORPORATION: Court Grants 60-Day Extension on RO

K.P. KENINGAU: Still Working On Restructuring Scheme
KRAMAT TIN: Status of Plan Remains Unchanged
LITYAN HOLDINGS: To Submit Proposed Restructuring Scheme
MAGNUM CORPORATION: Buys Back 645,800 Shares
MAXBIZ CORPORATION: Status of Default Payment Unchanged

MECHMAR CORPORATION: Repays Loan as Scheduled
MYCOM BERHAD: Sees No Changes to Implementation of Scheme
OLYMPIA INDUSTRIES: Restructuring Scheme Still Unchanged


P H I L I P P I N E S

ABS-CBN BROADCASTING: Partners With Multi-Media's Dream TV
ATLAS CONSOLIDATED: To Begin Berong Nickel Project Soon
C&P HOMES: Clarifies News on SEC Approval of Capital Hike
C&P HOMES: Forecasts Rosy Q4 Results
LEPANTO CONSOLIDATED: Set to Trade Additional Shares

PHILIPPINE AIRLINES: Orders Nine Airbus Planes


S I N G A P O R E

ACCORD DEVELOPMENT: Creditor Seeks to Wind Up Firm
CHINA AVIATION (S): Firms to Invest SGD127.7 Mln
CHINA AVIATION (S): Posts 2004 Audited Financial Results
CPLANE ASIA: Receiving Claims Until Dec. 27
L&B ENGINEERING: Intends to Pay Dividend

LIANG HUAT: Seeks to Dispose of Property
OCS TUNNELLING: Court Issued Winding Up Order
UNITED FIBER: Explains Decrease in Shares Trading


T H A I L A N D

WYNCOAST INDUSTRIAL: Decreases Registered Capital

     -  -  -  -  -  -  -  -

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

AB NORTHSHORE: Failure to Pay Debt Prompts Winding Up
-----------------------------------------------------
Notice is hereby given that at a meeting of AB Northshore and
Eastside Fencing Pty Limited held on Nov. 11, 2005, the
following Special Resolution was passed:

That as it is unable to pay its debt as and when they fall due,
the Company be wound up voluntarily, and that Mr. Daniel Civil
be appointed as Liquidator for the winding up.

Daniel Civil
Liquidator
C/o Rodgers Reidy
Level 8, 333 George Street, Sydney NSW 2000


AIR NEW ZEALAND: Carries 2.5% More Passengers in October 2005
-------------------------------------------------------------
The Air New Zealand Group (the Group) carried 912,000 passengers
in October 2005, an increase of 2.5 percent on the previous
period.

Group capacity, as measured by Available Seat Kilometres (ASKs),
increased 3.4 percent to 2.6 billion ASKs for the month of
October.

Group traffic, as measured by Revenue Passenger Kilometres
(RPKs), increased 0.2 percent to 1.9 billion RPKs for the month
of October.

Group passenger load factor of 72.7 percent was 2.3 percentage
points lower than October 2004. Year to date Group load factor
was 0.3 of a percentage point lower at 75.5 percent.

For the month of October, passenger load factor movements for
key regional markets were:
- Domestic passenger load factor was 0.5 of a percentage point
higher at 75.2 percent.
- Tasman and Pacific Islands passenger load factor was 4.5
percentage points lower at 72.3 percent.
- Total short-haul passenger load factor of 73.2 percentage
points was 2.9 percent lower.
- Asia/Japan passenger load factor was 1.0 percentage point
lower at 71.5 percent.
- North America and Europe passenger load factor of 72.8 percent
was 2.4 percentage points lower.
- Total long-haul passenger load factor of 72.3 percent was 1.9
percentage points lower.

Group yield refers to total passenger revenue divided by the
total of all kilometres flown (RPKs). Adjusted for year on year
currency movements, yields for the four months to October 2005
were as follows:

- Group yield increased 5.5 percent
- Short-haul yields increased 6.1 percent
- Long-haul yields increased 2.7 percent.

CONTACT:

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


ARTSTONE & PAVING: Court Orders Liquidation
-------------------------------------------
On Nov. 4, 2005, the Supreme Court of New South Wales ordered
the winding up of Artstone & Paving (Manufacturing) Pty Limited,
and appointed Mr. A. R. Nicholls to be the Company Liquidator.

A. R. Nicholls
Liquidator
C/o Nicholls & Co. Chartered Accountants
Suite 6, 459 Peel Street, PO Box 271
Tamworth NSW 2340


ARTY CONSULTING: Members Resolve to Wind Up Firm
------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Arty Consulting Pty Limited held on Nov. 10, 2005,
it was resolved that the Company be wound up voluntarily, and it
was resolved that Mr. Robert Molesworth Hobill Cole of Cole
Downey & Co. Chartered Accountants, Unit 2, 6 Moorabool Street,
Geelong Vic 3220 be appointed Liquidator.

Dated this 11th day of November 2005

Robert M. H. Cole
Liquidator
Cole Downey & Co. Chartered Accountants
Unit 2, 6 Moorabool Street
Geelong Vic 3220


BATKIN PROPERTIES: Winds Up Operations
--------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Batkin Properties Pty Limited held on Nov. 15, 2005, the
following Special Resolution was passed:

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

Chris Chamberlain of Nicholls & Co. Chartered Accountants, Suite
103, 1st Floor, Wollundry Chambers, Johnston Street, Wagga
Wagga, NSW was appointed as Liquidator for such purpose.

Dated this 16th day of November 2005

Chris Chamberlain
Liquidator
Suite 103, 1st Floor, Wollundry Chambers
Johnston Street, Wagga Wagga NSW 2650


BFM DISTRIBUTION: Declares First, Final Dividend
------------------------------------------------
BFM Distribution Pty Limited will declare a first and final
dividend on Dec. 9, 2005.

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

Dated this 1st day of November 2005

Andrew A. Johnson
Joint Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000


BIG ROCK: Members Pass Winding Up Resolution
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Big Rock Demolition Pty Limited held on Nov. 14,
2005, it was resolved that the Company be wound up voluntarily,
and Mr. Peter Paul Krejci of GHK Green Krejci, Level 9, 179
Elizabeth Street, Sydney NSW 2000 be appointed as Liquidator.

Dated this 14th day of November 2005

Peter P. Krecji
Liquidator
GHK Green Krejci
Level 9, 179 Elizabeth Street
Sydney NSW 2000


CARTER HOLT: Hart Inches Ahead in Takeover Bid
----------------------------------------------
Graeme Hart is closer to gaining full control of Carter Holt
Harvey three days before the expiry of his NZ$3.3 billion
(US$2.37 billion) takeover offer, Reuters reports.

The offer, which was launched in mid-September and has been
extended three times, runs out on Dec. 9, but under takeover
rules can be extended for a total of 150 days, until early
February.

Mr. Hart filed a notice with the New Zealand Stock Exchange,
disclosing control of 82.6 percent of Carter Holt.

Mr. Hart's Rank Group needs to reach 90 percent to compulsorily
buy out the rest of the shares and delist company.

But analysts have suggested that Mr. Hart will fall short of
gaining full control because enough shareholders, mainly
institutional investors, will want to hold on to benefit from
any turnaround in the company's performance.

CONTACT:

NEW ZEALAND
Carter Holt Harvey Limited
640 Great South Road
Manukau City
Auckland 1020
Phone: +64 9 262 6000
Facsimile: +64 9 262 6099

AUSTRALIA
Carter Holt Harvey Limited
Como Office Tower
Level 16, 644 Chapel Street
South Yarra
Melbourne, VIC 3141
Telephone: +61 3 9823 1600
Facsimile: +61 3 9823 1620
Web site: http://www.chh.com


CHIRNSIDE GAS: Liquidator to Explain Wind Up to Members
-------------------------------------------------------
Notice is hereby given that a final meeting of the members of
Chirnside Gas Bar Pty Limited will be held on Dec. 14, 2005,
10:30 a.m. at the offices of Grant Thornton, Rialto Towers,
Level 35, South Tower, 525 Collins Street, Melbourne, to present
the Liquidator's account showing the manner in which the winding
up of the Company was conducted and the property disposed of,
and to hear any explanation that may be given by the Liquidator.

Dated this 8th day of November 2005

M. R. Auty
Liquidator
Grant Thornton
Rialto Towers, Level 35, South Tower
525 Collins Street, Melbourne Vic 3000


ELENA INTERIOR: Intends to Distribute Final Dividend
----------------------------------------------------
Elena Interior Constructions Pty Limited will declare a final
dividend today, 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 15th day of November 2005

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


FLIGHT CENTRE: Responds to Qantas Commission Change
---------------------------------------------------
Flight Centre Limited Chairman Graham Turner issued the
following statement in response to Qantas' moves to alter
upfront commissions from next year:

"As with any retail business, travel products have a retail
margin. Air travel is no different.

"Upfront commission is, as Qantas acknowledges, only part of
this overall margin that Flight Center Limited and other
retailers typically receive from airlines. Margins paid to
travel retailers are based on two main elements:

- Upfront commission is paid on all sales and

- Override is earned by retailers that produce significant
volume

"Flight Centre has no preference on how it is paid, as long as
the margin is available.

"Flight Centre will sell Qantas if it is a competitive product
in terms of quality, price and total remuneration or margin to
the company.

"We would insist that any decrease in front-end margin be
replaced by other sources of remuneration to ensure customers
using Qantas do not suffer from higher prices.

"Currently, our company has a good relationship with Qantas.

"The international aviation market is fairly competitive out of
Australia and Qantas does not operate in a vacuum. It accepts it
must be competitive if it expects to get sales from travel
retailers such as us. The same of course applies domestically,
although competition here is somewhat limited with only two
carriers.

"Our international experience has shown that airlines that
introduce uncompetitive margin structures lose sales and sooner
or later reverse their policies.

"This has happened with British Airways in the U.K., South
African Airways in South Africa and Air Canada. Margins in these
areas are now better than they have been for more than 18
months.

"Providing the Australian government allows the competition in
areas such as the international market, domestically market
forces will prevail. This is good for travel retailers and of
course customers.

"Whatever announcements follow about commissions, fuel
surcharges of other fees, Flight Centre's Price Beat Guarantee
ensures that customers will not be penalized. This guarantee
means if a customers brings us a competitor's airfare and it's
available we will beat its."

CONTACT:

Flight Centre Limited
Level 13, 316 Adelaide Street,
BRISBANE, QUEENSLAND,
AUSTRALIA, 4000
Telephone: (07) 3032 9013
Fax: (07) 3032 9051
Web site: http://www.flightcentre.com


FORTESCUE METALS: Fights BHP Line Over Pilbara Rail
---------------------------------------------------
Fortescue Metals refuted a BHP Billiton claim that opening up
the latter's Pilbara rail network would undermine its efficiency
and discourage investment in new capacity, according to The
Australian.

Iron ore aspirant Fortescue told the National Competition
Council (NCC) that it is prepared about train scheduling to
ensure that BHP is not disadvantaged and would ensure Fortescue
trains are of a sufficient standard not put the network at risk.

In a draft decision last month, the NCC ruled in favor of
Fortescue, agreeing that BHP's Mount Newman rail line, which
carries iron ore to Port Hedland, should be opened to third
parties under the Trade Practices Act.

BHP has been granted an extension on its full submission until
Jan. 6, so it can include the results of a modeling exercise on
the potential effect of granting access to third parties.

BHP is expected to reiterate that granting third-party access
risks discouraging future investment in rail capacity.

Submissions closed Monday, ahead of a final decision expected in
February.

CONTACT:

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


FRANCLIFFE INVESTMENT: Appoints Official Liquidator
---------------------------------------------------
Notice is given that at a meeting of the members of Francliffe
Investment Fund Pty Limited held on Nov. 11, 2005 it was
unanimously resolved to voluntarily liquidate the Company, and
to appoint Mr. Bruce Coombes as the Liquidator for the winding
up.

Dated this 11th day of November 2005

Bruce Coombes
Liquidator
Suite 30, 15-17 Terminus Street
Castle Hill NSW 2154


H. TREVAIL: Asks Creditors to Submit Debt Claims
------------------------------------------------
Notice is hereby given that the creditors of H. Trevail & Son
Pty Limited, which is being wound up, are required on or before
Dec. 20, 2005 to prove their debts or claims, and to establish
any title they may have to priority by delivering or posting a
formal proof of debt or claim containing their respective debts
or claims to the Liquidator's office.

Failure to do so would exclude creditors from the following:

(a) The benefit of any distribution made before their debts or
claims are proven or their priority is established; and

(b) Objecting to the distribution.

Dated this 25th day of November 2005

John E. Ellis
Liquidator
Level 8, 60 Pitt Street
Sydney NSW 2000
Phone: 02 9232 7466
Fax:   02 9251 3973


J&A FITNESS: Creditors to Review Liquidator's Report
----------------------------------------------------
Notice is hereby given that a final meeting of the creditors of
J&A Fitness Academy Pty Limited will be held on Dec. 14, 2005,
4:00 p.m. at Bernardi Martin, Level 1, 195 Victoria Square,
Adelaide, for the following purposes:

AGENDA

To consider how the winding up of the Company and the disposal
of its property was conducted, and to facilitate the destruction
of the company's books & records after six months.

Dated this 10th day of November 2005

Hugh Martin
C/o Bernardi Martin
Lvel 1, 195 Victoria Square
Adelaide


JPG'S RETAIL: Decides to Close Business
---------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of JPG's Retails Stores Pty Limited held on Nov.
10, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. Wayne Benton of PPB Chartered Accountants,
Level 10, 90 Collins Street, Melbourne Victoria was appointed as
Liquidator at a creditors' meeting held later that day.

Dated this 10th day of November 2005

Wayne Benton
Liquidator
PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


KINGSDOWN PTY: Court Releases Winding Up Order
----------------------------------------------
On Nov. 8, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of Kingsdown Pty Limited, and
appointed Mr. Steven Nicols to be the Company Liquidator.

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


MARRICKVILLE HOLDINGS: To Declare First Dividend
------------------------------------------------
Marrickville Holdings Pty Limited will declare a first dividend
on Dec. 8, 2005.

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

Dated this 18th day of October 2005

G. J. Keith
Liquidator
Grant Thornton
Rialto Towers, Level 35, South Tower
525 Collins Street, Melbourne Vic 3000


MULTIPLEX: Pair Accused Firm of False Extortion Link
----------------------------------------------------
Embattled construction giant Multiplex was accused of falsely
linking two subcontractors to an extortion case, according to
the Australian Associated Press.

Demolition contractors David Ballard and Tony Schepis claimed
the firm falsely linked them to the bid to extort AU$50 million
because the Multiples reneged on payments to them.

The pair was investigated by the police and was cleared of any
involvement early in the probe.

Mr. Ballard and Mr. Schepis admitted Multiplex owed them for
their work, but insisted they had nothing to do with the
extortion attempt in which threats were made to shoot one of the
company's crane drivers unless Multiplex handed over AU$50
million.

The construction giant received a letter in early February,
threatening to shoot a crane driver at a Multiplex site
somewhere in the world unless the company handed over AU$50
million.

A former Multiplex director tonight publicly described the
company's behavior to the two men as immoral.

Meanwhile, a spokesman for Multiplex said the two men should
take up the matter in the courts, not through media.

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 Suitors Down to 10
------------------------------------------
The initial grouping of 20 retailers and private equity bidders
for Myer Limited that received the information memorandum in
early November has been trimmed to just under 10 parties, The
Age reveals.

However, several prospective bidders are outside the formal
bidding process and may help to determine the eventual owner of
the 105-year-old retail group.

Myer's parent, Coles Myer, said it was satisfied with the
indicative bids at fist glance. It just means that there
"continues to be a high level of interest in Myer".

Harvey Norman and South African retail group Edgars Consolidated
are believed to have lodged bids, along with the front-running
private equity groups Newbridge Capital, CVC Asia and JPMorgan
Capital.

The Myer family consortium, led by Rupert Myer, is believed to
have lodged a joint bid with a private equity group. The Myer
family controls close to 5 per cent of Coles Myer.

Former Coles Myer chairman Solomon Lew, who has close to a 6
percent stake in the retail giant, has also talked with private
equity groups and is believed to be circling, but has not made a
direct bid.

David Jones Chief Executive Mark McInnes said he was interested
in up to 12 Myer stores and had talked with several private
equity groups about a joint bid. David Jones is not a formal
party to the Myer bidding process.

The Coles Myer board has placed an internal valuation on the 61
department stores of AU$600 million-plus and hopes the separate
sale of Myer's flagship Bourke Street store will generate more
than AU$400 million. But retail analysts have valued the company
at about AU$450 million.

The Coles Myer board is expected to decide within the next week
on whether to proceed with the sale or go for a partial demerger
or retain the chain. Shortlisted bidders will then meet the Myer
management team just before Christmas.

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


NC MORGAN: Schedules Final Meeting Dec. 14
------------------------------------------
Notice is given that a final meeting of the members of NC Morgan
Pty Limited will be held on Dec. 14, 2005, 10:00 a.m. at Level
13, 15 Lake Street, Cairns, to receive the Liquidator's account
showing the manner of the winding up and disposal of the
property of the Company, and to receive any explanation of the
account.

Dated this 7th day of November 2005

Gerry Mier
Liquidator
KPMG
Level 13, Cairns Corporate Tower
15 Lake Street, Cairns Qld 4870
Phone: 07 4046 8888


OYSTER ENTERPRISES: Court Orders Liquidation
--------------------------------------------
On Nov. 7, 2005, the Supreme Court of New South Wales, Equity
Division ordered that Oyster Enterprises Australia Pty Limited
be wound up, 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


PLEASURABLE PASTIMES: Enters Voluntary Liquidation
--------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Pleasurable Pastimes Pty Limited held on Nov. 8, 2005, it was
resolved that the Company be wound up voluntarily, and that Mr.
Paul Cook and Mr. Terry O'Connor of Paul Cook & Associates, 105
Macquarie Street, Hobart Tas 7000 be appointed as Joint and
Several Liquidators for the wind up.

Dated this 8th day of November 2005

Paul Cook
Terry O'Connor
Liquidators
105 Macquarie Street, Hobart Tas 7000
Phone: 03 6223 2555
Fax:   03 6223 2556
Email: info@pjc.com.au


POST HASTE: Brent Kijurina Named Official Liquidator
----------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Post Haste Productions Pty Limited held on
Nov. 10, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. Brent Kijurina of Smith Hancock Chartered
Accountants, Level 4, 88 Phillip Street, Parramatta NSW 2150 was
appointed as Liquidator for such wind up.

Dated this 10th day of November 2005

Brent Kijurina
Liquidator
Smith Hancock Chartered Accountants
Level 4, 88 Phillip Street
Parramatta NSW 2150


PMP LIMITED: Boss Hints on Redundancies, Further Restructure
------------------------------------------------------------
A major restructure at PMP Limited is likely to see the loss of
jobs, according to the Sydney Morning Herald.

The printer and magazine distributor's Chief Executive, Brian
Evans, said his company has earmarked AU$10 million this year
for further restructuring and redundancies.

Mr. Evans declined to quote how many redundancies were likely,
but he said the firm was considering job cuts at the middle and
senior management level and among its contractors.

PMP employs around 3,500 staff in Australia and New Zealand.

CONTACT:

PMP Limited
Level 13, 67 Albert Avenue
CHATSWOOD, NSW, AUSTRALIA, 2067
Telephone: (02) 9412 6000
Fax: (02) 9413 3939
Web site: http://www.pmplimited.com.au/


QUEENSLAND COACH: Members, Creditors to Discuss Winding Up
----------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Queensland Coach Company Pty Limited will be held
on Dec. 14, 2005, 10:30 a.m. at the offices of Ernst & Young
Chartered Accountants, Level 5 Waterfront Place, 1 Eagle Street,
Brisbane to lay accounts before the meeting, showing the manner
of the winding up and disposal of the property of the Company,
and to hear any explanation that may be given by the Liquidator.

Dated this 14th day of November 2005

Angus Blackwood
Liquidator
Ernst & Young
Level 5, Waterfront Place
1 Eagle Street, Brisbane Qld 4000


RJ'S TUGGERAH: Creditors Confirm Liquidator's Appointment
---------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of RJ's Tuggerah Pty Limited held on Nov. 8, 2005, it was
resolved that the Company be wound up voluntarily, and that Mr.
Roderick Mackay Sutherland of Jirsch Sutherland Chartered
Accountants be appointed as Liquidator for such purpose.

Creditors confirmed the Liquidator's appointment at their
meeting held that same day.

Dated this 9th day of November 2005

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


TELSTRA CORPORATION: Inks New Deal with Westpac
-----------------------------------------------
Westpac Banking Corporation announced a new five-year agreement
with Telstra Corporation to provide telecommunication services
for Westpac's Australian and Pacific operations.

The A$400 million agreement renews Westpac's existing agreement
with Telstra which was due to expire this month.

In October 2004, Westpac contracted directly with Telstra to
provide its telecommunications services. These arrangements
enabled Westpac and Telstra to work closely on the detailed
requirements for Westpac's new Sydney head office and future
telecommunication needs.

Westpac Group Chief Information Officer, Simon McNamara, said
the new agreement offered significant value and further
telecommunication innovation opportunities to Westpac.

"The agreement marks the entry into a strategic partnership with
Telstra to further improve our service to customers through the
latest in telecommunication technology," he said.     I

Our partnership to date has produced significant innovation,
particularly in areas such as Voice Over Internet Protocol
(VOIP) where Westpac now has the number one capability of any
Australian corporation.

This new agreement will ensure continuing momentum in innovation
and provides vital support to us in meeting our mission of being
number one in customer service.

CONTACT:

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


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

BANK OF CHINA: Expands RMB Service in Hong Kong
-----------------------------------------------
Bank of China (Hong Kong) Limited (BOCHK) has expanded Renminbi
(RMB) services in Hong Kong, allowing designated merchants to
open RMB accounts and raising maximum limit for locals to
exchange and remit the currency, The Standard reports.

Merchants of various businesses, including retailing, catering,
accommodation, transportation, communication, medical services
and education, now can open deposit RMB accounts in RMB and
exchange their RMB to HK dollars.

The Chinese lender said it is committed to providing Hong Kong
people with the most professional, comprehensive and quality RMB
services by exploring more diverse and innovative products

The bank has reported growing business in Hong Kong over the
past two years. The number of ATMs that can provide RMB cash
withdrawal has increased from 83 in 2003 to this year's 242 in
Hong Kong.

Meanwhile, transactions for RMB cash via ATMs in Hong Kong have
increased by 170 percent from May 2004 to October 2005.

CONTACT:

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


BRILLIANT MART: Prepares to Wind Up Business
--------------------------------------------
Brilliant Mart Enterprises Limited, whose office address is
located at 25C, G/F 25-33 1/F to 3/F Chung On Street Tsuen Wan
New Territories, issued a winding up order notice in the High
Court of the Hong Kong Special Administrative Region Court of
First Instance on November 23, 2005.

Date of Presentation of Petition: September 26, 2005

Dated this 2nd day of December 2005

ET O'Connell
Official Receiver


HANVAST DEVELOPMENT: Issues Debt Claim Notice
---------------------------------------------
Notice is hereby given that the creditors of Hanvast Development
Limited (In Creditors' Voluntary Liquidation) are required on or
before January 3, 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 of the company at
Suites 3416-19, 34th Floor, Jardine House, No. 1 Connaught
Place, Central, Hong Kong.

If so required by notice by not, and further, if so required by
notice in writing from the said Liquidators, are personally or
by their solicitors to come in and prove their said debts or
claims at such time and place as shall be specified in such
notice.

In default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.

Dated this 2nd day of December, 2005

WONG TAK LEUNG, CHARLES
Liquidator


KIDDER INDUSTRIAL: Enters Winding Up Process
--------------------------------------------
Kidder Industrial Limited, whose office address is located at
9/F Block B Fuk On Factory Building 1123 Canton Road Mongkok
Kowloon, issued a winding up order notice in the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on November 23, 2005.

Date of Presentation of Petition: September 23, 2005

Dated this 2nd day of December 2005

ET O'Connell
Official Receiver


MEDIMEDIA INTERNATIONAL: Creditors to Prove Claims by Jan. 3
------------------------------------------------------------
Notice is hereby given that the creditors of Medimedia
International Limited (In Members' Voluntary Liquidation) are
required on or before January 3, 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 Mr. Rainier Hok
Chung Lam, the Joint and Several Liquidators of the company.

If so required by notice in writing from the said Liquidators,
they are to personally or by their solicitors to come in and
prove their said debts or claims at such time and place as shall
be specified in such notice.

In default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.

Dated this 2nd day of December, 2005

JOHN TOOHEY
Joint and Several Liquidator
22/F., Prince's Building
Central, Hong Kong


NEW ASIA: Set to Wind Up Business
---------------------------------
New Asia 2000 Limited, whose office address is located at Room
M1-M2 Baskerville House 3 Duddell Street 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 23, 2005.

Date of Presentation of Petition: September 24, 2005

Dated this 2nd day of December 2005

ET O'Connell
Official Receiver


NFY NURSERY: First Creditors Meeting Fixed Dec. 16
--------------------------------------------------
The First Meetings of Contributories and Creditors in NFY
Nursery Limited (In Liquidation) will be held at Room 508, 11
Middle Road, Kowloon, Hong Kong (The Mariners' Club), on
December 16, 2005 at 10 a.m. and 10:30 a.m. respectively.

Dated this 26th day of November 2005

LEE SIK WAI BENJAMIN
LUK WAI YIN ALICE
Joint and Several Provisional Liquidators
Presented by Lee Sik Wai & Co.


SOL MELIA: Creditors Meeting Slated for Dec. 23
-----------------------------------------------
Notice is hereby given that, that a meeting of the creditors of
Sol Melia China Limited (In Creditors' Voluntary Liquidation)
will be held at 27th Floor, Alexandra House, 18 Chater Road,
Central, Hong Kong on December 23, 2005 at 10:30 in the morning.

Agenda

An annual Meeting of Creditors called pursuant to Section 247 of
the Companies Ordinance for the purpose of laying before it an
account the liquidators' acts and dealings and of the conduct of
the winding up during the proceeding year.

Proxies used at the meeting must be lodged at 8/F., Prince's
Building, 10 Chater Road, Central, Hong Kong not later than 4:00
p.m. on December 22, 2005.

Dated this 2nd day of December 2005

EDWARD S MIDDLETON
Joint and Several Liquidator


SUN FAT: Enters Bankruptcy
--------------------------
Notice is hereby given that an Order for Administration in
Bankruptcy of Sun Fat Restaurant was made on November 21, 2005.

All debts due to the estate should be paid to the receiver.

Dated this 2nd day of December 2005

E T O'CONNELL
Official Receiver


TOP ONEPOLYBAGS: Court Issues Bankruptcy Order
----------------------------------------------
Notice is hereby given that a bankruptcy order against Top
Onepolybags Company was made on November 23, 2005.

All debts due to the estate should be paid to the official
receiver.

Dated this 2nd day of December 2005

E T O'CONNELL
Official Receiver


TRIPASA INDUSTRIES: Set to Wind Up Business
-------------------------------------------
Tripasa Industries Limited, whose office address is located at
Unit 13 5th Floor Tower A Mandarin Plaza 14 Science Museum Road
Kowloon, issued a winding up order notice in the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on November 23, 2005.

Date of Presentation of Petition: September 22, 2005

Dated this 2nd day of December 2005

ET O'Connell
Official Receiver


* China's "Big Four" Banks Inviting Foreign Investors Cautiously
----------------------------------------------------------------
China's "Big Four" state banks are hoping to invite foreign
investors to help streamline their operation, Asia Pulse
reports.

Chief banking regulator Mr. Liu Mingkang said Monday that
foreign investors should hold a minimum of 5 percent stake at a
Chinese bank, and are forbidden to sell that holding in three
years in order to "maintain long-term cooperation with Chinese
banks and achieve win-win results."

China had to set up four asset management companies in 1999 to
manage as much as CNY1.4 trillion (US$173.3 billion) of non-
performing loans -- largely including reckless government-
ordered lending to state-owned enterprises -- transferred from
the "Big Four".

The four major state banks are the Industrial and Commercial
Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of
China (BOC) and China Construction Bank (CCB). They account for
a market share of more than 50 per cent.


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

BHARAT PETROLEUM: To Hold EGM for Merger with Kochi Refineries
--------------------------------------------------------------
The government has directed Bharat Petroleum Corporation Ltd and
Kochi Refineries Ltd to convene the extraordinary general
meetings (EGM) of shareholders to consider the scheme of merger,
Sify Finance reports.

The Joint Secretary, Ministry of Company Affairs, vide his order
dated Nov. 28, 2005 has asked both the public sector petroleum
companies to convene the EGM, it informed the stock exchanges on
Friday.

The Joint Secretary also appointed Ashok Sinha, CMD, as
Chairperson to conduct the EGM of the equity shareholders of the
BPCL. It also appointed Justice Santosh N Hegde (Retd) as
Chairperson to conduct the EGM of KRL.

The order further authorized the chairpersons of the EGMs to fix
the date, venue and time for the said meetings.

The EGM of BPCL will be held on January 16, 2006.

CONTACT:

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


ESCORTS FINANCE: CARE Revises FD Rating; On Rating Watch
--------------------------------------------------------
Rating agency CARE has downgraded the rating assigned to the
fixed Deposit Programme for an amount of INR132.97 crore
(outstanding as on March 31, 2005) of Escorts Finance Limited
(EFL) from "CARE BB+ (FD)" [Double B (PLUS)] to CARE B (FD)
[Single B], with a rating watch.

Instruments with such ratting are generally classified
susceptible to default. While interest and principal payments
are being met, adverse changes in business conditions are likely
to lead to default. In the absence of the requisite information
from EFL, annual surveillance exercise is based on the publicly
available information.

The rating factors in the highly competitive business
environment for NBFCs, continuous decline in the operations of
the company, continuing pressure on EFL's profitability, high
proportion of FDs in overall resources profile and continued
weak credit profile of parent company, Escorts Limited. Going
forward, the ability of EFL to diversify its operations while at
the same time reducing its dependence on Escorts Limited and
impact of restructuring exercise being undertaken by Escorts
Limited, would be key rating sensitivities.

Escorts Finance Limited (EFL), incorporated in 1987, is one of
the largest NBFCs in northern India. EFL is part of Escorts
Group with the group holding 81% of company's equity. EFL has
strong operational linkages with the dealer network and the
retail outlets of the Escorts Group, which facilities EFL in its
operations.

EFL is mainly involved in financing of agri-machinery (mainly
tractors), construction equipment, bill discounting, ICDs and
fee-based activities. Most of the business is originated within
the Escorts group.

During FY'05 there has been a sharp decline in income especially
in hire-purchase and interest income. Declining income and
increasing operating expenses have adversely impacted the
profitability, reducing reported PAT to INR25 lakh for FY'05.

Continued poor performance of Escorts Limited, has had a major
bearing on the operations of EFL. Wile, Escorts is in the
process of major restructuring and has taken certain measures
towards this, the impact of the same operations of both Escorts
and Escort Finance Limited, remains to be seen.

CONTACT:

Swati Agrawal
Phone: (011) 2331 8701
Mobile: 0 98117 45677
E-mail: swati.agrawal@careratings.com


IMP POWERS: Unveils AGM Outcome
-------------------------------
IMP Powers Ltd has informed Bombay Stock Exchange (BSE) that the
members at the 43rd Annual General Meeting (AGM) of the Company
held on November 25, 2005 inter alia, have accorded to the
following:

1. Adoption of the Balance Sheet as on June 30, 2005 and the
Profit and Loss Account for the year ended on that date,
together with all annexure, schedules and the reports of the
Directors and Auditors thereon.

2. Re-appointment of Mr. N Tatarao as Director of the Company.

3. Re-appointment of M/s. Milwani Associates, Chartered
Accountants, Mumbai, as Auditors of the Company for the
financial year 2005-06.

4. Appointment of Mr. Ramdas T Rajguroo and Mr. Prashant J
Pandit as Directors of the Company.

5. Authority to the Board to borrow any sum of money (apart from
temporary loans obtained from Company's Banker in the ordinary
course of the business) up to a sum not exceeding INR 1000
million, subject to necessary approvals and provisions.

6. Alteration in the Articles of Association of the Company.

7. Authority to the Board to create, offer, issue and / or allot
Equity Share warrants with a right / option exercisable by the
warrant-holder to subscribe for equity shares with in a period
of 18 months from the date of allotment at a price worked out as
per the provisions of SEBI Guidelines. The relevant date in
terms of SEBI Guidelines for preferential allotment would be
October 25, 2005 i.e., 30 days prior to the date of the meeting
of the general body of shareholders is held in terms of Section
81 (1A) of the Companies Act, 1956 to consider the proposed
issue 712500 number of equity share warrants of INR 10/- each at
a price of INR 55.63 each to promoters and other as below:

a. Shree Rasbihari Trading & Investments Pvt. Ltd - 279938 share
warrants
b. Shree Kishoriju Trading & Investments Pvt. Ltd - 280123 share
warrants
c. Advance Transformers & Equipments Pvt. Ltd - 152439 share
warrants.

8. Adoption of the report placed before the meeting as required
under the Sick Industrial Companies (Special provisions) Act,
1985 in respect of the losses suffered by the Company and
erosion of more than 50% of its peak net worth of four
immediately preceding financial years.

9. Increase in the Authorized Share Capital of the Company from
INR 100 million to INR 130 million divided into 1,00,00,000
equity shares of INR 10/- each and 30,00,000 preference shares
of INR 10/- each by creation of 30,00,000 equity shares of INR
10/- each and consequential amendments in the Memorandum and
Articles of Association of the Company.

CONTACT:

IMP Powers Ltd
12-A, Advent, 7th Floor, Gen. J Bhosale Marg,
City Mumbai
Pincode 400021
State Maharashtra
Phone: 22021890
Fax: 22026775


MAX INDIA: Board Approves Scheme of Amalgamation
------------------------------------------------
Max India Ltd has informed Bombay Stock Exchange (BSE) that the
Board of Directors of the Company at its meeting held on
December 05, 2005, inter alia, has approved, in principle, the
amalgamation of Max Telecom Ventures Ltd, a wholly owned
subsidiary with the Company.

The Board also constituted a Committee to finalize and approve
Scheme of Amalgamation.

CONTACT:

Max India Limited
Bhai Mohan Singh Nagar, Railmajra, Balachaur
Nawan Shahr
144533
Punjab


TWINSTAR SOFTWARE: Board Opts to Extend AGM
-------------------------------------------
Twinstar Software Exports Ltd has informed Bombay Stock Exchange
(BSE) that the Board of Directors of the Company has decided to
extend the Annual General Meeting (AGM) of the Company for the
year 2004-2005.

Accordingly, the Company has obtained the extension from the
Registrar of Companies.

The date of AGM will be intimated shortly.

CONTACT:

Twinstar Software Exports Ltd
EL 178, Electronics Zone, TTC MIDC Industrial Area
Navi Mumbai
400701
Maharashtra
Phone Nos.: 27619576 27619498 30981864


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

GARUDA INDONESIA: Plans to Fly to Europe Next Year
--------------------------------------------------
National carrier PT Garuda Indonesia hopes to reopen air routes
to Europe by December 2006, reports Asia Pulse.

According to the Company's Sales and Marketing Mmanager Agus
Priyanto, the Company signed an agreement to cooperate with Bank
Permata in terms of ticket payment, and they are currently
studying routes to Europe.

Mr. Priyanto added that they are also studying routes for wide-
bodied aircraft, promising that the Company will have "renewed
everything" when they ply European routes.

As for its regional routes, Garuda plans to open a new route
from Central Java to Singapore and Kuala Lumpur by next year,
but will not add routes to other countries in Asia as there are
not enough aircraft to do so.

The Company also plans to increase its cargo service with the
use of two Boeing 737-300 planes. At present, Garuda is
optimizing its existing routes, and is focusing its efforts
towards consolidation.

CONTACT:

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


KALTIM PRIMA: Standard & Poor's Upgrades Credit Rating to BB-
-------------------------------------------------------------
On Dec. 6, 2005, Standard & Poor's Ratings Services raised the
corporate credit rating on PT Kaltim Prima Coal (KPC) to 'BB-'
from 'B+', with a stable outlook.

Standard & Poor's credit analyst Nancy Koh said, "The upgrade
reflects KPC's gradually improving financial profile on the
expectation that it will be fairly insulated from volatility in
coal prices, because at least 80% of its coal sales will go to
IndoCoal Resources at a fixed price of US$34.30 per ton."

Coupled with its ability in sustaining export sales, Standard &
Poor's projects that the Company's funds from operations to debt
and debt to EBITDA ratios will improve to above 30% and less
than 1.6x, respectively, for fiscal 2005 through 2007, from 32%
and 2.8x in the past three years. The projections are based on
the pro forma consolidated financials of KPC and sister company,
PT Arutmin Indonesia.

KPC, which is Indonesia's second-largest coal mining company, is
also expected to benefit from lower interest costs following the
refinancing of USD385 million of bank debt. Given that KPC's
ability to incur additional debt will be restricted by certain
covenants in the notes issue for IndoCoal, a special purpose
vehicle (SPV), this should help to instill some financial
discipline within the company.

The rating also considers a degree of insulation from sovereign
debt risks. Standard & Poor's thinks that despite its own
difficulties, the Indonesian government has not sought to impose
a debt moratorium or interfere with local companies accessing
foreign exchange markets to service their foreign debt recently.
More than 90% of KPC's revenues are in U.S. dollars, providing a
natural hedge against its borrowings and costs (which are
largely denominated or linked to U.S. dollars). KPC's exposure
to the weak Indonesian banking system is also minimal, as a
majority of the company's sales revenues and cash are deposited
in offshore bank accounts in Singapore.

However, the rating on KPC is constrained by operating,
industry, and regulatory risks, and the company's affiliation
with the Bakrie Group. Standard & Poor's is concerned that
Bakrie could adopt an aggressive financial policy, as
demonstrated in the past, to the detriment of KPC's credit
profile. This risk could be partially mitigated by certain
covenants in the notes issue that restrict KPC's ability to
incur additional debt. As such, this limits the likelihood of
KPC being used as a funding vehicle for parent company PT Bumi
Resources Tbk, which is controlled by the Bakrie Group.

KPC's liquidity is deemed adequate. Although the Company's cash
and cash equivalent of US$72.7 million at March 31, 2005, was
insufficient to cover short-term debts of USD154 million, it has
since refinanced its bank borrowings. Total debt outstanding was
USD316 million as of August 2005.

The stable outlook reflects the expectation that KPC will
maintain its market position and sustain export sales. Over the
medium term, the credit profile should be supported by strong
demand for coal, the company's low-cost operations, and
increased production from existing and new coal pits. The
outlook also reflects the expectation that KPC will continue to
benefit from the arrangement to sell its coal to the SPV at a
floor price set under the US$600 million securitized notes
document, and have continued access to the intercompany funds.

Conversely, the rating will be lowered if the company's
financial profile weakens substantially as a result of the floor
price sales arrangement, or if failure by IndoCoal to pay KPC
for its coal causes a liquidity crunch.

CONTACT:

PT Kaltim Prima Coal (KPC)
Menara Kadin Indonesia
28th Floor, Jl.H R Rasuna Said Blok X-5 Kav 02/03
Jakarta 12950
Indonesia
Phone: 62 549 52-1800
Fax:   62 549 52-1701
Postal Address: PO Box 5032
                JKTM 12700
                Indonesia
Web site: http://www.kaltimprimacoal.co.id/


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

FUJITSU LIMITED: To Expand Enterprise Ecosystem With Red Hat
------------------------------------------------------------
Fujitsu Limited and Red Hat announced that, under their global
agreement to provide Linux solutions, they would collaborate in
porting applications to Fujitsu mission-critical PRIMEQUEST
Intel Architecture servers running Red Hat enterprise Linux.

This collaboration will enable user businesses to securely and
quickly port applications running on other platforms into Red
Hat Enterprise Linux-based PRIMEQUEST servers.

The two companies plan to expand their joint promotional
activities surrounding porting services for Linux applications
from the Japanese market through Europe, the Americas, and other
areas within Asia Pacific.

Red Hat will provide an application porting service, provided by
Red Hat consultants. Red Hat will undertake all necessary tasks,
which include the collection of data necessary for application
porting; planning, including verification planning; the
provision of working environments including the necessary tools;
compiling, testing and debugging; system integration; and
related consulting. In addition, the partners will fine-tune
applications during porting to elicit maximum performance from
PRIMEQUEST servers.

Fujitsu will carry out testing of ported applications and
verification of system operation using PRIMEQUEST servers at the
company's Platform Solution Center. (1)

Targeting competitors' UNIX servers and 32-bit Linux
applications, Fujitsu and Red Hat will offer porting to
PRIMEQUEST either on the Red Hat Enterprise Linux v.4 64-bit
environment or a 32-bit binary-compatible environment using the
latest version of IA-32 Execution Layer (IA-32EL), which offers
greatly enhanced Red Hat Enterprise Linux compatibility.

Since their global alliance in May, 2003, Fujitsu and Red Hat
have been collaborating in marketing, sales, software
development, system construction, and support for Linux
solutions in mission-critical fields. In December, 2003, the
companies established a Joint Development Organization at Red
Hat headquarters to develop Linux OS capabilities and provide
rapid support to Fujitsu group companies worldwide.

Red Hat made Red Hat Enterprise Linux v.4, available in
February, 2005, enabling the company to offer a very powerful
argument for the adoption of Linux in mission-critical systems.

Fujitsu also provided a catalyst to the adoption of Linux in
large-scale mission-critical systems with the April, 2005 global
launch of its PRIMEQUEST server, based on 64-bit high-
performance Intel Itanium 2 Processors running Red Hat
Enterprise Linux.

Comments from Intel Corporation

"Intel has worked closely with Fujitsu and Red Hat to deliver
mission-critical enterprise solutions on Linux and Intel Itanium
based servers," said Carol Barrett, Director of Enterprise
Platform Marketing at Intel Corporation's Server Platforms
Group. "Demand for Linux-based enterprise solutions running on
Intel Itanium 2 Processors is rapidly growing, and we expect
customers to utilize this collaboration to migrate from RISC
based technologies."

Platform Solution Center: A facility in Tokyo providing
consulting, testing and evaluation of the platform products of
Fujitsu and its partners. It is the largest systems evaluation
facility in Japan and was established in December 2004.

About Fujitsu

Fujitsu is a leading provider of customer-focused IT and
communications solutions for the global marketplace. Pace-
setting device technologies, highly reliable computing and
communications products, and a worldwide corps of systems and
services experts uniquely position Fujitsu to deliver
comprehensive solutions that open up infinite possibilities for
its customers' success. Headquartered in Tokyo, Fujitsu Limited
(TSE:6702) reported consolidated revenues of 4.7 trillion yen
(US$44.5 billion) for the fiscal year ended March 31, 2005. For
more information, please see: www.fujitsu.com

About Red Hat, Inc.

Red Hat, the world's leading open source and Linux provider, is
headquartered in Raleigh, NC with satellite offices spanning the
globe. Red Hat is leading Linux and open source solutions into
the mainstream by making high quality, low cost technology
accessible. Red Hat provides operating system software along
with middleware, applications and management solutions. Red Hat
also offers support, training and consulting services to its
customers worldwide and through top-tier partnerships. Red Hat's
open source strategy offers customers a long term plan for
building infrastructures that are based on and leverage open
source technologies with focus on security and ease of
management. Learn more: http://www.redhat.com

Red Hat and the ShadowMan logo are trademarks or registered
trademarks of Red Hat, Inc.

Linux is a trademark of Linus Torvalds.

Intel and Itanium are trademarks or registered trademarks of
Intel Corporation or its subsidiaries in the United States and
other countries.

All other names and trademarks are the property of their
respective owners.

CONTACT:

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


KANEBO LIMITED: Kao Group Top Candidate in Buyout
-------------------------------------------------
A consortium of Japanese household products maker Kao
Corporation and three private equity funds is the top contender
to acquire troubled cosmetics and food group Kanebo Limited,
according to Reuters.

The Kao bid includes three investment funds, including European
investment fund CVE Capital Partners, together with the two
other bidders - Daiwa Securities SMBC Principal Investments and
RHJ International, a U.S. fund headed up by investment guru
Timothy Collins.

Among the three groups that had submitted bids for Kanebo last
week, Kao's team offered the highest price of about JPY440
billion ($3.64 billion), exceeding its rival bidders by around
JPY20 billion.

The Industrial Revitalization Corp. of Japan (IRCJ), which held
a final round of bidding last week, could approve the Kao-led
proposal by the end of the week.

Kanebo turned to the IRCJ for restructuring last year after
heavy losses and an accounting scandal.

CONTACT:

Kanebo Limited
20-20, Kaigan 3-chome
Minato-ku, Tokyo
108-8080 JAPAN
Phone: Telephone +81-3-5446-3002


MITSUBISHI MOTORS: Launches Next-generation Hybrid Concept-CT1
--------------------------------------------------------------
Mitsubishi Motors Corporation and Mitsubishi Motors North
America Inc. (MMNA, based in Cypress, California) will give the
MITSUBISHI Concept-CT1 MIEV2 hybrid 4WD sport compact concept,
which uses outer rotor type in-wheel motors and a lithium-ion
battery system to drive all four wheels, and the new Eclipse
Spyder convertible their world premieres at the 2006 North
American International Auto Show (the Detroit Motor Show). The
show will be held from January 8 to 22 at the Cobo Center in
Detroit, and will be open to the general public from January 14.

MITSUBISHI Concept-CT MIEV showcases the company's MIEV concept
for next-generation electric vehicles that utilize in-wheel
motors and high energy-density lithium-ion batteries as core
technologies. This concept car pairs the MIEV concept with a
gasoline engine for series-parallel hybrid propulsion, which
delivers higher power and realizes longer cruising ranges, to
drive all four wheels.

Created by the Mitsubishi Motors R&D of America, Inc. design
studio based in Cypress, California, the MITSUBISHI Concept-CT
MIEV sport hatchback is the company's first concept model for
the sport compact category that is attracting growing attention
in the North American market in recent years.

The new Eclipse Spyder is a convertible version of the Eclipse
sporty coupe the company showed at the Detroit Motor Show in
January of this year. Eclipse Spyder features a soft top which
opens and closes at the touch of a switch, with a new powered
tonneau panel. The car is powered by either a 2.4-liter in-line
4-cylinder MIVEC3 engine or a 3.8-liter V6 MIVEC engine. The
3.8-liter model will be available with a 5-speed automatic
transmission with sport mode or a 6-speed manual transmission,
both of which are new additions over the current Eclipse Spyder
model.

Eclipse Spyder will be produced at the MMNA's facility in
Normal, Illinois and is due to go on sale in the spring of 2006.

CONTACT:

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


MITSUBISHI MOTORS: Wins Automobile Magazine's 2006 Award
--------------------------------------------------------
Automobile Magazine announced that the ninth generation
Mitsubishi Motors' Lancer Evolution received the prestigious
Automobile Magazine 2006 All-Stars Award -- the second
consecutive year the Evo nameplate has won this honor.

The Evo will be featured as one of only six winning vehicles in
the January 2006 issue of Automobile Magazine, scheduled to hit
newsstands on Tuesday, Dec. 13, 2005. This year's All-Stars
slots were reduced from nine to six, making the competition even
more challenging.

"The Lancer Evolution exemplifies a key aspect of the core DNA
of the Mitsubishi Motors brand -- performance -- so it is no
surprise that it has been awarded Automobile Magazine's 2006
All-Stars Award," said Dave Schembri, executive vice president
of sales and marketing at Mitsubishi Motors North America. "We
are thrilled and honored that the staff of AUTOMOBILE MAGAZINE
continues to recognize the Evo as a class-leading model, not to
mention a benchmark for all performance cars."

Every year, Automobile Magazine's entire staff, including
worldwide contributors, gathers for a week to test drive and
identify the year's best vehicles. This year, the staff went to
Southeastern Ohio to push the limits of the vehicles along 50-
mile stretches, driving competitive-class vehicles back-to-back.
The staff selected the six most impressive vehicles as
Automobile Magazine 2006 All-Stars.

"The Lancer Evolution is a quintessential, award-winning vehicle
that continues to turn the heads of our staff, not to mention
car enthusiasts," said AUTOMOBILE MAGAZINE Editor-in-Chief Jean
M. Jennings. "The Evo competes with the world's best performance
cars by offering top-notch engineering and handling at a
reasonable price. It is truly one of the most amazing
performance vehicles on the road today."

The Lancer Evo continues its winning streak with this award, in
addition to being awarded Automobile Magazine's All-Stars Award
in 2005 and Automobile of the Year in 2004. Additionally, Sport
Compact Car magazine named the Evo one of the Eight Great Rides
in 2005 and 2004, Car of the Year in 2005 and 2004, and the
number one choice among the 100 Best Sport Compact Cars of All
Time in 2004.

Built on Mitsubishi's historic rally championship legacy, the
2006 Lancer Evolution represents the ninth generation of this
high performance four-door sedan that continues to evolve with
significant performance, rally styling and useful driver
enhancements -- raising the adrenaline of driving enthusiasts at
every turn.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of the Mitsubishi Motors Corporation in
the United States and Canada. Mitsubishi Motors sells coupes,
convertibles, sedans and sport utility vehicles through a
network of approximately 570 dealers. For more information,
contact the Mitsubishi Motors News Bureau at (888) 560-6672 or
visit http://media.mitsubishicars.com.

CONTACT:

Mitsubishi Motors North America, Inc.
6400 Katella Ave.
Cypress, CA 90630-0064
Phone: 714-372-6000
Fax: 714-373-1020


OKUNIKKO KONISHI: IRCJ Completes Revitalization Plan
----------------------------------------------------
The Industrial Revitalization Committee of the Industrial
Revitalization Corporation of Japan approved the conclusion of
support to K.K. Okunikko Konishi Hotel. As well as concluding
the receipt of payment in full for debt purchased from financial
institutions as part of a business revitalization plan for
Okunikko Konishi Hotel, support was terminated without the
implementation of the originally planned capital injection
(including convertible bonds).

1. Name of company concerned K.K. Okunikko Konishi Hotel

2. Process to date

On February 3, 2005 the IRCJ approved an application for
assistance by Okunikko Konishi Hotel under Article 22, Clause 3
of the Industrial Revitalization Corporation Act of 2003. On
March 25 of the same year, under Article 25, Clause 1 of the
same act, the IRCJ reached agreement with financial institutions
on the purchase of this company's debt.

The IRCJ has carried out revitalization of the business
operations of Okunikko Konishi Hotel in conjunction with the
company's main financial institution, the Ashikaga Bank, Ltd.,
the operations revitalization subcontractor Tochigi Investment
Partners Co., Ltd., and Ryokan Management Support Co., Ltd., as
well as others. However, prior to the IRCJ and TIP carrying out
a capital increase that had been included in the revitalization
plan, GRB Investment Inc. (Delaware, U.S.; GRB) expressed an
intention of taking over the management of the company and were
appointed a new sponsor by the interested parties.

Note: GRB is an investment company established by G. R. Baker,
formerly Japan representative of Dow Chemical.

3. Amount of Debt

The principal value of Okunikko Konishi Hotel's debt was JPY1
million, for which the IRCJ paid JPYs43,000 to financial
institutions. In accordance with the revitalization JPY954,000
was handled in a debt forgiveness scheme and payment in full of
the remaining JPY46,000 was received in June 2005.

4. Comment from the state ministers in charge of the Industrial
Revitalization Corporation of Japan

None expressed

About the IRCJ

The public and private sector established the IRCJ jointly on
April 16, 2003, with the aim of providing revitalization
assistance to both the industrial and the financial sectors in
Japan. It targets assistance at companies that have sound
business fundamentals but are unable to thrive because of
excessive debt levels or other factors. The IRCJ has
approximately 200 employees and is based in Tokyo.

CONTACT:

Corporate Planning Department
The Industrial Revitalization Corporation of Japan
Phone: 03-6212-6437


SANYO ELECTRIC: Sales Slide to US$4.7 Bln in 1H/2005
----------------------------------------------------
Sanyo Electric sales dropped to US$4.7 billion in the fiscal
first six months, down from a year-ago US$5.2 billion, Twice
reports.

Television sales in the first half ended September 30, declined
to US$418.7 million, from US$445.3 million in the same period
the prior year. LCD projectors came in at US$215 million in the
first half, down from a year-on-year US$255 million.

Digital still cameras reported first half sales of US$750.4
million, compared with last year's US$858.6 million. Telephone
sales in the first six months reached US$1.5 billion, a drop-off
from the US$1.7 billion recorded in 2004.

Sales in North America also increased for Sanyo during the first
half, climbing to US$1.5 billion, from US$1.4 billion the
previous year.

The company reported it would wrap up 10,000 of its planned
14,000 job eliminations by January 2006. It also plans to raise
US$1.7 billion to US$2.5 billion by issuing new shares of stock
to a number of financial institutions.

CONTACT:

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


SPANSION TECHNOLOGY: Moodys Assigns B3 Rating
---------------------------------------------
Moody's Investors Service assigned first time corporate family
rating of B3 to Spansion Technology Inc. (Spansion), a leading
provider of flash memory semiconductors.

Spansion, currently owned 60% by Advanced Micro Devices (AMD)
and 40% by Fujitsu Limited (Fujitsu), is expected to execute an
initial public offering with approximately one third of the
company being held publicly upon completion. The rating outlook
is stable.

The following first time ratings have been assigned to Spansion:

Corporate Family Rating -- B3

$400 million senior unsecured note due 2015 -- Caa1

Speculative Grade Liquidity rating -- SGL-2

Concurrent with the initial public offering, Spansion expects to
issue $400 million senior unsecured notes in a private placement
under Rule 144A without registration rights. Net proceeds from
the note issuance will be used to repay approximately $300
million of borrowings owed to its current owners, AMD and
Fujitsu, with the remainder going to its balance sheet, which
when combined with expected IPO proceeds of about $667 million
before fees and expenses will constitute Spansion's opening
balance sheet cash of approximately $780 million.

The ratings reflect: (1) the high degree of business risk
inherent to the capital intensive, volatile, and technologically
evolving flash memory market; (2) the prospect that, despite
strong bit demand driven by the cell phone market, continued
aggressive pricing could cause Spansion's free cash flow to be
negative over the near to intermediate and trigger the need for
additional debt financing; (3) fairly limited financial
flexibility notwithstanding good balance sheet liquidity pro
forma the pending IPO and note issuance; (4) Spansion's limited
ability to weather sustained market weakness or technological or
manufacturing missteps; (5) the significantly larger financial
resources and business diversity of some of its key competitors;
and (6) the company's impending stand alone status, although
Moody's recognizes that Spansion has been migrating to a stand
alone operation over the last several quarters and service
agreements with its current owners are in place through 2006.

The ratings also consider: (1) Spansion's strong position in the
NOR flash memory market, although this traditional, $8 billion
market directed primarily at the cell phone and embedded end
markets is mature and slow growing; (2) strong customer
relationships among a range of end market customers including
all of the top cell phone, consumer electronics, and automotive
OEM's; (3) the potential for Spansion's proprietary flash
architecture called MirrorBit, which effectively doubles the
density of each memory cell, to gain increased market acceptance
as electronic devices require greater data density at lower cost
per bit.

The stable outlook reflects our expectation that Spansion will
be able to continue good execution of its manufacturing and
technology roadmap, including the continued market penetration
of its MirrorBit technology whose richer average selling prices
could help to improve its profit profile.

The ratings are not likely to experience upward pressure until
Spansion is able to achieve operating profitability, with the
prospect that such performance can be sustained through cycles.
This in turn would improve its ability to internally fund the
significant capital expenditure requirements that are necessary
to remain technologically and cost competitive and bolster its
financial flexibility so that it can continue to sustain
critical R&D and process technology advances even during sector
downturns.

The ratings could face negative pressure if (1) the company
struggles to move towards profitability, which we believe would
be driven by a combination of top line growth and more
importantly, gross margin expansion given the relatively fixed
nature of R&D and SG&A costs; (2) fails to advance its MirrorBit
technology with cell phone OEM's and other applications, (3)
experiences increased competitive pressures from the very fast
growing NAND flash technology, or (4) the company's liquidity
profile weakens.

Pro forma the pending IPO and note issuance, Spansion will have
cash of about $784 million and $740 million of debt, including
the proposed $400 million senior unsecured note issuance and
about $340 million of secured credit facilities and capital
leases that mature at various points over the next three years.
Given Spansion's liquidity and free cash flow prospects during
this time, we believe it will need to refinance this debt. Pro
forma debt to latest twelve month EBITDA measures about 2.7
times. As noted above, a critical challenge for Spansion relates
to its ability to improve cash flow generation to fund the
significant capital expenditures that are necessary to remain
competitive. For the latest twelve months ended September,
EBITDA of $271 million compared to about $427 million of capital
expenditures. Over the near to intermediate term, we expect
about double the level of capital expenditures.

The SGL-2 reflects (1) Spansion's good balance sheet liquidity
following the IPO that when combined with cash flow from
operations should be sufficient to fund necessary capital
expenditures over the next twelve months, (2) external liquidity
in the form of its undrawn $175 million borrowing base revolving
credit facility that matures September 2010, that should
maintain good room under its one financial covenant, a minimum
EBITDA, and (3) our view that Spansion has limited non core
assets that could be readily sold if liquidity pressures were to
develop.

Spansion Technology Inc., headquartered in Sunnyvale,
California, is one of the largest Flash memory providers and the
largest company in the world dedicated exclusively to
developing, designing and manufacturing Flash memory. For fiscal
2004 and the first nine months of fiscal 2005, net sales were
$2.3 billion and $1.4 billion, respectively.

New York
Richard J. Lane
Senior Vice President
Corporate Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Andris G. Kalnins
Senior Vice President
Corporate Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653


TOSHIBA CORPORATION: Responds to Court Ruling on U.S. Lawsuit
-------------------------------------------------------------
Toshiba Corporation and its subsidiary, Toshiba America
Electronic Components, Inc. (TAEC), announced the filing of a
notice of appeal to a higher court on portions of the decision
of the Superior Court of the State of California in the case of
alleged misappropriation of NAND Flash-related trade secrets
from Lexar Media.

The Superior Court (the court of first instance), granted a new
trial on damages on the grounds that there was insufficient
evidence to support the judgment. The companies are appealing
those portions of the Court's December 2, 2005 order denying
judgment notwithstanding the verdict (JNOV) and denying certain
parts of the motion for new trial.

JNOV (Latin: Judgment Non Obstante Veredicto) is the practice in
American courts whereby the presiding judge in a civil case may
overrule the decision of a jury and vacate their verdict because
it was improper as a matter of law and enter a judgment in favor
of the opposing party

Toshiba is very pleased with the court's ruling last Friday,
vacating what we consider to be an erroneous verdict on damages.
Toshiba is appealing other rulings in an effort to correct that
what we believe to be erroneous verdicts on the trade secret and
breach of fiduciary liability claims. We have strongly contested
the allegations and denied wrongdoing throughout the
proceedings, and will continue to pursue all legal avenues to
arrive at a just outcome to this matter.

In November 2002 Lexar Media filed suit in the Superior Court of
the State of California, alleging theft of trade secrets and
breach of fiduciary duty by Toshiba Corporation and TAEC. The
appellate process could take several years, and a new trial
would not occur before that process is completed.

Toshiba was a principal innovator of NAND Flash memory
technology in the 1980's and has been a pioneer throughout its
development. Flash memory remains a strategic product for
Toshiba and one in which Toshiba owns original technologies.


USUI DEPARTMENT: IRCJ Receives Debt Payment in Full
---------------------------------------------------
The Industrial Revitalization Committee of the Industrial
Revitalization Corporation of Japan approved the receipt of
repayment in full for debt the IRCJ had purchased from financial
institutions as part of a business revitalization plan for Usui
Department Store K.K. and related companies.

The payment received by the IRCJ means that it no longer holds
any debt or other obligations of Usui Department Store.

1. Name of company concerned Usui Department Store K.K.
Usui Honsha K.K.

2. Process to date

On August 28, 2003 the IRCJ approved an application for
assistance by Usui Department Store under Article 22, Clause 3
of the Industrial Revitalization Corporation Act of 2003. On
October 31, 2003, under Article 25, Clause 1 of the same act,
the IRCJ reached agreement with financial institutions on the
purchase of this company's debts, and in January 2004 a capital
increase was carried out.
In October 2005, the IRCJ sold all of the ordinary shares that
it held in Usui Department Store (representing a capital
investment of 20 million and 20% of voting rights) to
Mitsukoshi K.K.

3. Amount of debt

The principal value of Usui Department Store's debt was JPY4,537
million, for which the IRCJ paid financial institutions JPY2,145
million. In accordance with the business revitalization plan,
JPY2,326 million of the principal value of the debt was handled
in a debt forgiveness scheme.

The payment of JPY2,211 million received today means that the
amount of Usui Department Store debt owing to the IRCJ has now
been paid in full.

4. Comment from the state ministers in charge of the Industrial
Revitalization Corporation of Japan

None expressed.

Note on comments from ministers: The IRCJ is a quasi-
governmental organization. As such, the IRCJ is required to
obtain comments about decisions to assist private-sector
companies from the three government ministers in charge of the
IRCJ.

About the IRCJ

The IRCJ was established jointly by the public and private
sector on April 16, 2003, with the aim of providing
revitalization assistance beneficial to both the industrial and
the financial sectors in Japan. It targets assistance at
companies that have sound business fundamentals but are unable
to thrive because of excessive debt levels or other factors. The
IRCJ has approximately 200 employees and is based in Tokyo. For
more information please visit www.ircj.co.jp.

CONTACT:

Corporate Planning Department
The Industrial Revitalization Corporation of Japan
Phone: 03-6212-6437


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

SSANGYONG MOTOR: To Reduce Production Level by 50%
--------------------------------------------------
Ssangyong Motor Co. will suspend some of its production lines
effective December 21 to January 2, reveals Yonhap News Agency.

The suspension of production is part of the Company's effort to
lower inventory levels amid lackluster domestic sales.

Ssangyong's current inventory level stands at 8,000 and the
Company plans to reduce it to 4,000.

The Company domestic sales tumbled 30.2 percent from a year ago
to 63,999 units in the January-November period.

"Unionists' opposition stopped us from closing all the
production lines," a company official said. "However, we will
suspend some of those not requiring union approval."

Ssangyong's labor union found the decision as a prelude to
layoffs.

"It is ridiculous to halt production lines while the Actyon is
selling well," said an official of the union, which has about
5,700 members. The Actyon, Ssangyong's latest sports utility
model, hit the domestic market in October.

But the management denied the accusation saying the move is
solely done to adjust inventory levels and has nothing to do
with taming the union or layoffs.

The tension between the labor union and management began when
President Soh Jin-kwan was dismissed in early November.

CONTACT:

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


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

AKTIF LIFESTYLE: No Change on Plans to Regularize Condition
-----------------------------------------------------------
Aktif Lifestyle Corporation Berhad (Aktif) furnished Bursa
Malaysia Securities Berhad a monthly announcement on the status
of plan to regularize financial condition.

Further to the announcement dated November 2, 2005, Avenue
Securities Sdn Bhd, on behalf of Aktif, advised the Exchange
that there has been no material development in respect of the
Company's plan to regularize its financial position.

The applications to regularize the financial condition of Aktif
which were submitted to the Securities Commission on August 16,
2005 are still pending its approval.

This announcement is dated 1 December 2005.

CONTACT:

Aktif Lifestyle Corporation Berhad
Level 10, Grand Seasons Avenue, No. 72,
Jalan Pahang, 53000 Kuala Lumpur
Malaysia
Phone: (60) 3 2693 1828
Fax: (60) 3 2691 2798


ANCOM BERHAD: Issues Shares Buy Back Notice
-------------------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:

Date of buy back: December 2, 2005

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

Total number of shares purchased (units): 48,900

Minimum price paid for each share purchased (MYR): 0.685

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

Total consideration paid (MYR):

Number of shares purchased retained in treasury (units): 48,900

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

Cumulative net outstanding treasury shares as at to-date
(units): 8,286,703

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

CONTACT:

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


AVENUE CAPITAL: Shareholders OK Scheme of Reorganization
--------------------------------------------------------
On behalf of the Board of Directors of Avenue Capital Resources
Berhad (ACRB), Avenue Securities Sdn Bhd, advised Bursa Malaysia
Securities Berhad that:

(1) The shareholders of ACRB, holders of the Irredeemable
Convertible Unsecured Loan Stocks 2002/2007 of MYR1.00 nominal
value each in ACRB and holders of the warrants 2002/2007 in ACRB
have approved the composite scheme of reorganization as set out
in the Notice of the Court Convened Meetings dated November 9,
2005 at the respective Court Convened Meetings held on December
1, 2005; and

(2) The shareholders of ACRB have duly passed all the special
and ordinary resolutions set out in the Notice of the
Extraordinary General Meeting (EGM) dated November 9, 2005 at
the EGM held on December 1, 2005.

This announcement is dated 1 December 2005.


BELL & ORDER: Passes All EGM Resolutions
----------------------------------------
Bell & Order Berhad (B&O) issued to Bursa Malaysia Securities
Berhad a monthly announcement on the status of the company's
plan to regularize its financial condition pursuant to Practice
Note No. 17/2005 of the Listing Requirements of Bursa Malaysia
Securities Berhad (PN17/2005).

In compliance with the requirements of Paragraph 3.1(b) of
PN17/2005, Avenue Securities Sdn Bhd, on behalf of the Board of
Directors of B&O, advised the following development relating to
the Company's plan to regularize its financial condition.

The shareholders of B&O had, at the Extraordinary General
Meeting (EGM) held on November 10, 2005, passed all the
resolutions pertaining to the corporate exercises (as set out in
the Notice of EGM dated October 20, 2005), which will enable the
Company to regularize its financial condition.

Barring unforeseen circumstances, copies of the Abridged
Prospectus together with the accompanying Provisional Allotment
Letter relating to 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 (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. The Rights Issue is part of the aforementioned
corporate exercises to regularize B&O's financial condition.

This announcement is dated 1 December 2005.

CONTACT:

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


CHG INDUSTRIES: Awaits SC's Permission to Revise Proposal
---------------------------------------------------------
CHG Industries Berhad issued to Bursa Malaysia Securities Berhad
an update to the revision of proposal.

The decision of the Securities Commission is currently pending
as the parties are still working on the revision of certain
terms of the proposal.

This announcement is dated 1 December 2005.

CONTACT:

CHG Industries Berhad
8th Mile Jalan Cheras
Cheras, Selangor Darul Ehsan 43200
Malaysia
Telephone: +60 3 907 58811
Fax: +60 3 907 66215


CYGAL BERHAD: No New Plan Development Info Available
----------------------------------------------------
Cygal Berhad refers to its announcement dated November 2, 2005
and the announcement by Commerce International Merchant Bankers
Bhd on behalf of the Company dated November 24, 2005.

The Company advised that, other than previously announced, there
has been no further development on the status of its
restructuring plan.

CONTACT:

Cygal Berhad
Lot 4.21, 4th Floor,
Plaza Prima, 4 1/2 Mile,
Jalan Klang Lama,
Kuala Lumpur Wilayah Persekutuan 58200
Telephone: 03-79839099
Fax: 03-79817629


DATUK KERAMAT: Financial Statements' Status Unchanged
-----------------------------------------------------
Datuk Keramat Holdings Berhad refers to its announcement dated
October 31, 2005 in respect of the requirement of Paragraph
9.26(3) of the Bursa Malaysia Securities Berhad Listing
Requirements (Bursa Securities LR).

The Company advised that, other than previously announced, there
has been no further development on the status of its outstanding
financial statements.

CONTACT:

Datuk Keramat Holdings Berhad
16B 3rd Floor
Jalan 14/20 Section 14
46100 Petaling Jaya
Malaysia
Phone: 03-79588166
Fax: 03-79566766


DATUK KERAMAT: Share Trading Still Suspended
--------------------------------------------
Datuk Keramat Holdings Berhad advised Bursa Malaysia Securities
Berhad that it has yet to release its interim financial report
for the second financial quarter ended June 30, 2005, which was
due on August 31, 2005.

In this respect, trading in the Company's shares will be
suspended with effect from 9:00 a.m., Thursday, December 1, 2005
pursuant to Paragraph 16.02(c) of the Listing Requirements.

However, in view that the trading in the Company's shares has
been suspended since August 1, 2005, hence the suspension will
continue until further notice.

Your attention is drawn to the Company's announcement dated
November 23, 2005.


JIN LIN: Awaits SC's Response to Petition
-----------------------------------------
Jin Lin Wood Industries Berhad (JLWIB) submitted a monthly
announcement pursuant to paragraph 4.1(b) of Practice Note No.
4/2001 (PN4) of the Listing Requirements of Bursa Malaysia
Securities Berhad (Bursa Securities Listing Requirements).

In compliance with PN4 paragraph 4.1 (b) of the Bursa Securities
Listing Requirements which requires an affected listed issuer to
announce the status of its plan to regularize its financial
condition on a monthly basis until further notice from Bursa
Malaysia Securities Berhad, JLWIB informed the Exchange that the
appeal submitted to the Securities Commission (SC) for the
revision of certain conditions contained in SC's letter of
approval of JLWIB's Proposed Restructuring Scheme is still
pending SC's response.

During the month of November 2005 (as announced on November 11,
2005), the following agreements were renewed;

(1) Third Supplemental Restructuring Agreement

(2) Second Supplemental Sale and Purchase Agreement (relating to
    100 percent of the equity share capital of Syarikat Bukit
    Granite)

(3) Second Supplemental Sale and Purchase Agreement (relating to
    100 percent of the equity share capital of Shanghai Ge Fung
    Granite & Marble Co. Ltd)

(4) Second Supplemental Sale and Purchase Agreement (relating to
    100 percent of the equity share capital of Jin Lin Wood
    Industries Berhad)

This announcement is dated 1 December 2005

CONTACT:

Jin Lin Wood Industries Bhd
Phone: 60 3 2710 5555
Fax: 60 3 2710 3108
E-mail: jlwood@po.jaring.my


KEMAYAN CORPORATION: Court Grants 60-Day Extension on RO
--------------------------------------------------------
Further to the announcements dated November 19, 2003, January 6,
2004, March 17, 2004, September 1, 2004, March 4, 2005,
September 2, 2005, September 6, 2005, November 29, 2005 and
November 30, 2005, the Board of Directors of Kemayan Corporation
Berhad informed Bursa Malaysia Securities Berhad that the High
Court of Malaya, Kuala Lumpur has granted the Company an
extension of time for the Restraining Order for a period of 60
days from the expiry of the previous Order.

CONTACT:

Kemayan Corporation Berhad
Jalan Mewah Ria 2/1 Tawan Bukit Mewah
81200 Johor Bahru, Johor Darul Takzim 80200
Malaysia
Telephone: +60 7 238 9888 / +60 7 236 5307


K.P. KENINGAU: Still Working On Restructuring Scheme
----------------------------------------------------
K.P. Keningau Berhad advised Bursa Malaysia Securities Berhad
that there has been no new development since date of the
previous announcement made pursuant to PN4/2001 of the Listing
Requirements.

The Company is endeavoring to work out a proposed restructuring
scheme towards regularizing of its distressed financial
condition. Once a new restructuring plan is confirmed, the
appropriate announcement will be made accordingly.

This announcement is dated 1 December 2005.

CONTACT:

K.P. Keningau Berhad
Lot 10, The Highway Centre
Jln 51/205 46050 Petaling Jaya,
Selangor
Telephone: 03-7784 3922
Fax: 03-7784 1988


KRAMAT TIN: Status of Plan Remains Unchanged
--------------------------------------------
Further to the announcements dated November 7, 2005 and November
23, 2005, the Board of Directors of Kramat Tin Dredging Berhad
(KTD) advised Bursa Malaysia Securities Berhad that it is
currently in the midst of preparing the necessary documents
required to procure the approvals of the remaining relevant
parties/regulatory authorities for the proposals.

Based on the foregoing, the status of KTD's plan remains
unchanged from what had been announced on November 7, 2005 and
November 23, 2005 respectively.

This announcement is dated 1 December 2005.

CONTACT:

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


LITYAN HOLDINGS: To Submit Proposed Restructuring Scheme
--------------------------------------------------------
In compliance with the Paragraph 3.1(b) of PN17/2005, Lityan
Holdings Berhad advised Bursa Malaysia Securities Berhad that
since the last announcement on October 28, 2005, the Company is
in the midst of submitting its Proposed Restructuring Scheme
(PRS) to the relevant authorities for approval. The Company
shall provide regular updates on the progress of the PRS.

CONTACT:

Lityan Holdings Berhad
Bangunan Lityan,
Peremba Square Saujana Resort,
Section U2, 40150 Shah Alam
Selangor Darul Ehsan, Malaysia
Phone: + 603-7622-1188
Fax: +603-7666-6870
E-mail: enquiry@lityan.com.my


MAGNUM CORPORATION: Buys Back 645,800 Shares
--------------------------------------------
Magnum Corporation Berhad submitted to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:

Date of buy back: December 1, 2005
Description of shares purchased: Ordinary shares of MYR0.50 each

Total number of shares purchased (units): 645,800

Minimum price paid for each share purchased (MYR): 1.880

Maximum price paid for each share purchased (MYR): 1.900

Total consideration paid (MYR):

Number of shares purchased retained in treasury (units): 645,800

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

Cumulative net outstanding treasury shares as at to-date
(units): 79,115,900

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

CONTACT:

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


MAXBIZ CORPORATION: Status of Default Payment Unchanged
-------------------------------------------------------
The Board of Directors of Maxbiz Corporation Berhad (Maxbiz)
advised Bursa Malaysia Securities Berhad that there is no change
in the status of the default in payment in relation to the
redemption of 50 percent of the nominal amount of the MYR3.0
million two years five percent Redeemable Unsecured Loan Stocks
(RULS) from the RULS holders.

This announcement is dated 1 December 2005.


MECHMAR CORPORATION: Repays Loan as Scheduled
---------------------------------------------
Mechmar Corporation (Malaysia) Berhad advised Bursa Malaysia
Securities Berhad that there is no change in the restructured
repayment schedules for the loans under default.

Monthly repayments are being paid to lenders as per agreed
restructured repayment schedules.


MYCOM BERHAD: Sees No Changes to Implementation of Scheme
---------------------------------------------------------
The Board of Directors of Mycom Berhad (Mycom) informed Bursa
Malaysia Securities Berhad that there is no major development to
the implementation of the restructuring scheme of Mycom apart
from the last announcement made on November 30, 2005.

This announcement is dated 1 December 2005.

CONTACT:

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


OLYMPIA INDUSTRIES: Restructuring Scheme Still Unchanged
--------------------------------------------------------
The Board of Directors of Olympia Industries Berhad (OIB)
informed Bursa Malaysia Securities Berhad that there is no major
development to the implementation of the restructuring scheme of
OIB apart from the last announcement made on November 30, 2005.

This announcement is dated 1 December 2005.

CONTACT:

Olympia Industries Bhd.
Malaysia
Phone: 60 3 2070 0033
Fax: 60 3 2070 0011
E-mail: olympia@oib.com.my


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

ABS-CBN BROADCASTING: Partners With Multi-Media's Dream TV
----------------------------------------------------------
ABS-CBN Broadcasting Corporation has formed an alliance with
Philippine Multi-Media System's Dream Satellite TV, ABS-CBN News
reveals.

The parties inked an exclusive agreement to form a business
partnership in the wireless pay TV business in the Philippines.
The tie-up will also involve Dream Satellite TV and the Lopez
Group's SkyCable.

The deal is expected to provide Dream Satellite TV subscribers
access to ABS-CBN's programs while giving SkyCable the
flexibility of offering multi-tiered market pricing using
Dream's set-top boxes, digital technology and experience.

Both groups are expected to generate cost efficiencies and
economies of scale in various areas of operation.

With the completion of the agreement, ABS-CBN clearly
establishes its dominance in the broadcast and pay TV industries
with the expanded nationwide presence it will derive using Dream
TV's satellite platform.

CONTACT:

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


ATLAS CONSOLIDATED: To Begin Berong Nickel Project Soon
-------------------------------------------------------
Atlas Consolidated Mining and Development Corporation and its
Joint Venture partner, AIM-listed Toledo Mining Corporation
(TMC), are about to begin site work on their Berong nickel
project in the Philippine following the granting of a Temporary
Exploration Permit (TEP).

TMC, by expending funds and other consideration, may earn a
Joint Venture interest in the project and in Atlas subsidiary
Berong Nickel Corporation.

The TEP, granted by the Department of Environment and Natural
Resources (DENR), allows fieldwork to be carried out prior to
securing an MPSA (MIneral Production Sharing Agreement) for a
direct shipping operation at Berong in the province of Palawan.

The fieldwork, which will begin immediately, will include the
resampling of all existing test pits, and topographic and ground
penetrating radar surveys of the entire area.

A company officer commented, "Berong is one of the largest and
highest grade nickel laterite deposits in the world. The
granting of the TEP is an important milestone which will enable
us to complete both the feasibility studies and the permitting
procedures with view to commencement of revenue generating
direct shipping operations in the first half of 2006."

Berong Nickel Corporation has already secured the consent of the
local indigenous community for the proposed development, and
other required endorsements and permits are in process.

The Philippines has been exporting nickel ore for 25 years, and
is well located to supply major world markets. Two-thirds of
global nickel production is used in the manufacture of stainless
steel, demand for which continues to grow sharply, with the huge
Chinese market now accounting for much of the growth.

Atlas has a 50-year history of environmental care and social
responsibility and, together with TMC, wishes to develop this
important project with the highest professional standards.

CONTACT:

Atlas Consolidated Mining and Development Corporation
7/F, Quad Alpha Centrum
125 Pioneer St., Mandaluyong City
Phone No:  635-2387/4495
Fax No:  633-3759; 634-2312
E-mail: acmdcmla@info.com.ph


C&P HOMES: Clarifies News on SEC Approval of Capital Hike
---------------------------------------------------------
This is in reference to the news article entitled "SEC okays C&P
Homes' capital increase to Php7B" 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 capital and debt
restructuring program, aimed at cleaning up its books."

Further to Circular for Brokers No. 5261-2005 dated Dec. 5,
2005, C&P Homes Inc., in a letter to the Exchange dated Dec. 5,
2005, disclosed:

"We would like to inform the Exchange that as of Monday, Dec. 5,
2005, C&P Homes Inc. has not yet received any formal approval
from the Securities and Exchange Commission (SEC) regarding the
matter. Nevertheless, the Company shall make the appropriate
public disclosure with the Exchange as soon as we receive a
formal advise (sic) from the SEC."

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


C&P HOMES: Forecasts Rosy Q4 Results
------------------------------------
C&P Homes Inc. expects to generate profits from its fourth
quarter operations as it continues to intensify marketing and
implement cost-effective measures, BusinessWorld reports.

In a regulatory filing, C&P Homes said its management is
implementing measures to address the deterioration in the
financial and operating conditions of the company and its
subsidiaries.

Parts of the firm's turnaround efforts include the sale of
certain assets, rationalization and streamlining of the
operations of the company and its subsidiaries' administrative
and support services, continuing settlement of obligations
through outright and unconditional sale of real estate
properties as well as to focus on core business expertise
specifically to cater to the mass-housing needs.

C&P is more popularly known under the brands Camella and
Palmera. The Camella projects focus in southern Metro Manila,
Cavite, Laguna and Batangas regions, while the Palmera brands
are in northeastern Metro Manila, Rizal and Bulacan. C&P
likewise markets socialized housing under the Carissa brand
name. It also has projects in Cebu, Cagayan de Oro and
Pangasinan.

C&P Homes returned to profit of Php29 million in January to
September from a Php49-million loss a year ago amid a 27.27-
percent drop in revenues.


LEPANTO CONSOLIDATED: Set to Trade Additional Shares
----------------------------------------------------
This is in connection with Circular for Brokers No. 4864-2005,
dated Nov. 3, 2005, pertaining to the listing of 4,264,671,951
common shares of Lepanto Consolidated Mining Company, divided
into 2,558,803,769 Class "A" shares and 1,705,868,182 Class "B"
shares, with a par value of Php0.10 per share, to cover its 1:5
pre-meptive rights offering to all stockholders of record as of
Sept. 21, 2005 at an offer price of Php0.20 per share.

Please be informed that in a letter dated Dec. 5, 2005, the
Company advised that further to the 4,210,793,106 fully paid
shares, an additional 40,982,330 shares were fully paid broken
down as follows:

        Class "A" shares     20,406,581
        Class "B" shares     20,575,749
        TOTAL                40,982,330

This brings the number of fully paid shares to a total of
4,251,775,436 common shares and the number of partially paid
shares to 12,896,515 common shares.

In view thereof, the additional fully paid 40,982,330 common
shares may be traded starting Wednesday, Dec. 7, 2005.

In accordance with the Rule on Right Offering as provided in the
Revised Listing Rules of the Exchange, actual trading of the
remaining 12,896,515 partially paid shares shall only be
permitted once the shares are fully paid. As previously
disclosed, the payment terms for the said pre-emptive rights
offering is "50% due within Offer Period" balance due on Nov.
18, 2005". The Company advised the Exchange that it will
continue to receive late payments until Dec. 16, 2005.
Thereafter, the Company shall advise the Exchange how it will
proceed should there be any remaining partially paid shares.

The designated stock transfer agent is authorized to record and
register in its books the additional fully paid 40,982,330
shares. The transfer agent shall be authorized to record and
register the remaining 12,896,515 partially paid shares only
upon full payment of the same by the concerned subscribers.

CONTACT:

Lepanto Consolidated Mining Co.
21st Floor, Lepanto Building
8747 Paseo de Roxas
1226 City of Makati
Telephone No. 815-9447
Fax: 63 (2) 812-0451/63 (2) 810-5583
E-mail: mis@lepantomining.com
Web site: http://www.lepantomining.com


PHILIPPINE AIRLINES: Orders Nine Airbus Planes
----------------------------------------------
Philippine Airlines (PAL) has placed an order for nine A320
planes from Airbus, according to The Philippine Daily Inquirer.

Airbus revealed that PAL has the option for a further five as
part of the national carrier's long-term fleet modernization
program. The aircraft manufacturer added that PAL would also
lease two new A320s and two new A319s from GE Capital Aviation
Services.

The new planes would be delivered starting in the second half of
next year until 2012.

Financial details were not known ahead of the contract signing
ceremony in Manila.

CONTACT:

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


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

ACCORD DEVELOPMENT: Creditor Seeks to Wind Up Firm
--------------------------------------------------
Notice is hereby given that the Bank of China Limited, a
creditor of Accord Development Pte Limited, filed a winding up
petition against the Company with the Singapore High Court on
Nov. 18, 2005.

The Petition is directed to be heard before the Court sitting at
Singapore on Jan. 13, 2006.

Any Company creditor or contributory desiring to support or
oppose the making of an Order on the Petition may appear at the
time of hearing by themselves or their Counsel for that purpose.

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

The Petitioner's address is 4 Battery Road, Bank of China
Building, Singapore 049908.

The Petitioner's solicitors are Messrs Rajah & Tann of 4 Battery
Road, #15-01 Bank of China Building, Singapore 049908.

Dated this 2nd day of December 2005

Messrs Rajah & Tann
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to the Petitioner's solicitors,
Messrs Rajah & Tann of 4 Battery Road, #15-01 Bank of China
Building, Singapore 049908,  a written notice of his intention
to do so. The notice must state the name and address of the
person, or, if a firm, the name and address of the firm, and
must be signed by the person or firm, or his or their solicitors
(if any) and must be served, or, if posted must be sent by post
in sufficient time to reach the Petitioner's solicitors not
later than 12:00 p.m. of Jan. 12, 2006 (the working day before
the day appointed for the hearing of the Petition).


CHINA AVIATION (S): Firms to Invest SGD127.7 Mln
------------------------------------------------
China Aviation Oil (Singapore) Corporation Limited (CAO)
announced on Dec. 5, 2005 that it signed a conditional
investment agreement with its parent firm, China Aviation
Oil Holding Company (CAOHC), and BP Investment Asia Ltd (BP), in
relation to their new investments in the Company, and a
conditional subscription agreement with Aranda Investments Pte
Limited (Aranda), an indirect wholly owned subsidiary of Temasek
Holdings (Private) Limited.

Under the agreements, CAOHC will inject SGD127.7 million into
CAO, while BP will inject SGD74.15 million into the Company, and
Aranda will invest SGD17.24 million. This total
investment of SGD127.7 million amounts to approximately 59.1% of
the Company's enlarged share capital, following the completion
of its Restructuring Plan.

BP and Aranda were selected to participate in the equity of the
Company whereby the Company considered several factors,
including the reputation and strength of the investors as well
as the potential future co-operation and contributions of the
investors to its future growth.

To view the Company's press release, go to:

http://bankrupt.com/misc/tcrap_chinaaviation3120605.pdf

CONTACT:

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


CHINA AVIATION (S): Posts 2004 Audited Financial Results
--------------------------------------------------------
China Aviation Oil (S) Corp. Limited (CAO) announces that Ernst
& Young completed its audit on the Company's financial results
for 2004. In the audited financial statements, the Company's
reported net loss for the year amounted to SGD864.86 million.
This is due to CAO's significant losses in speculative oil
derivatives trading.

To view the Company's audited 2004 financial statements, go to:

http://bankrupt.com/misc/tcrap_chinaaviation1120605.pdf

To view the auditor's report on the Company's financial results,
click on:

http://bankrupt.com/misc/tcrap_chinaaviation2120605.pdf


CPLANE ASIA: Receiving Claims Until Dec. 27
-------------------------------------------
Notice is hereby given that the creditors of Cplane Asia Pacific
Pte Limited, which is being wound up voluntarily, are required
on or before Dec. 27,2005 to send in their names and addresses,
with particulars of their debts and claims, and the names and
addresses of their solicitors (if any) to the Company
Liquidators.

If so required by written notice from the said liquidators, they
are personally or by their solicitors to come in, and prove
their said debts or claims at such time and place as shall be
specified in such notice.

In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.

Dated this 25th day of November 2005

Low Sok Lee Mona
Teo Chai Choo
Liquidators
C/o Low, Yap & Associates
4 Shenton Way
#04-01 SGX Centre 2
Singapore 068807


L&B ENGINEERING: Intends to Pay Dividend
----------------------------------------
L&B Engineering (S) Pte Limited, formerly of 4A Cheong Chin Nam
Road, Singapore 599729, posted a notice of intended dividend at
the Government Gazette, Electronic Edition with the following
details:

Name of Company: L & B Engineering (S) Pte Limited
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 266 of 1999
Last day for receiving proofs: Dec. 16, 2005
Name  & address of Liquidators: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: Dec. 2, 2005

Sunari Bin Kateni
Assistant Official Receiver


LIANG HUAT: Seeks to Dispose of Property
----------------------------------------
The Board of Directors of the Company refers to the announcement
made on 28 October 2005 pertaining to the proposed sale of 51,
Benoi Road, Liang Huat Industrial Complex (the Property) to M/s
Khai Wah Development Pte Ltd.

Liang Huat Aluminum Limited announced that in relation to the
Company's proposed sale of its industrial complex at 51 Benoi
Road, Singapore to M/s Khai Wah Development Pte Limited, the
Company submitted a circular to the Singapore Exchange &
Securities Trading Limited, to seek  shareholder approval for
the property sale, as well as a proposed change of its auditors.

By order of the Board

Tan Yong Kee
Group Managing Director

CONTACT:

Liang Huat Aluminium Limited
Blk 8 #07-05
Liang Huat Industrial Complex
51 Benoi Road
Singapore 629908
Phone: 65 68622228
Fax:   65 68624962
Web site: http://www.lianghuatgroup.com.sg/


OCS TUNNELLING: Court Issued Winding Up Order
---------------------------------------------
In the matter of OCS Tunnelling & Construction Pte Limited, the
Singapore High Court issued a winding up order against the
Company on Nov. 18, 2005, with the following details:

Name and address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated this 26th day of November 2005

Sim & Wing LLC
Solicitors for the Petitioner


UNITED FIBER: Explains Decrease in Shares Trading
-------------------------------------------------
United Fiber System Limited announces that on Dec. 5, 2005,
trading in the Company's shares dropped significantly. As a
result, the Singapore Exchange Securities Trading Limited (SGX-
ST) wrote a query letter to the Company, in order to verify the
decrease.

The Company posted the following replies to the query:

Q1 : Are you aware of any information not previously announced
concerning you (the issuer), your subsidiaries or associated
companies which, if known, might explain the trading? If yes,
the information must be announced immediately.

Ans : The Board is not aware of any information not previously
announced concerning the Company, its subsidiaries or associated
companies which, if known, might explain the substantial
decrease in the price of the Company's shares today.

Q2 : Are you aware of any other possible explanation for the
trading?

Ans : The Board is not aware of any possible explanation for the
substantial decrease in the price of the Company's shares.

Q3: Can you confirm your compliance with the Listing Rules and,
in particular, Listing Rule 703?

Ans : The Board confirms the Company's compliance with the
Listing Rule and, in particular, Listing Rule 703.

To view the Company's announcement on the SGX-ST query, click
on:

http://bankrupt.com/misc/tcrap_unitedfiber120605.doc

CONTACT:

United Fiber System Limited
103 Defu Lane 10
Poh Lian Building 1
Singapore 539223
Phone: 65 62846006
Fax:   65 62840074
Web site: http://www.ufs.com.sg


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

WYNCOAST INDUSTRIAL: Decreases Registered Capital
-------------------------------------------------
Wyncoast Industrial Park Public Company Limited (WIN) informed
the Stock Exchange of Thailand (SET) that it has completed the
legal process required for decreasing the company's registered
capital from THB1,468,835,640 to THB367,208,910 and paid-up
capital from THB1,400,937,360 to THB350,234,340 by canceling a
certain number of shares held by each shareholder based on their
shareholding ratio.

In conjunction with the decreasing shares, the exercise ratio of
its listed warrant (WIN-W) will be adjusted as follows:

                               Old                New
Exercise ratio                 1:1.074  1:0.2685

As a result of all actions taken effective from December 8, 2005
onwards, the company's registered capital and paid-up capital of
the WIN securities and the exercise ratio of WIN-W in the
trading system will be adjusted as stated above.

Remark: As WIN and WIN-W are still suspended from trading, the
securities can be traded under the new registered capital and
paid-up capital and new exercise ratio when the securities are
allowed to resume for trading.

CONTACT:

Wyncoast Industrial Park Public Company Limited
105 Moo 3,Bangna-Trat Road,
Thakham, Bang Pakong Chacherngsao
Telephone: 0-3857-3161-72
Fax: 0-3857-3173-4




                            *********


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

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

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

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

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

                 *** End of Transmission ***