TCRAP_Public/051212.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

             Monday, December 12, 2005, Vol. 8, No. 245

                            Headlines

A U S T R A L I A

A.&J. FOOD: Schedules Final Meeting Dec. 19
ALL IN ONE: Winds Up Business
BONDI MOTOR: Liquidator to Distribute Company Assets
CLOUGH LIMITED: To Jumpstart Activities for Boddington Project
COLIN PRATT: Decides to Close Operations

EG GREEN: Founding Family Seeks to Regain Control
FAIRVIEW PROPERTIES: Liquidator to Detail Wind Up Manner
F.R.D. PTY: Winding Up Process Initiated
G.N.M. LOGISTICS: Distributes Dividend to Creditors
G RETAIL: Hopes Fade After Administration

KA&S PERRY: Members Agree to Wind Up Business
KI PLANTATIONS: Members to Receive Liquidator's Report
KS EASTER: Court Orders Liquidation
LA&BP HULBERT: Members Pass Winding Up Resolution
MARTINS AUSTRALIA: Declares Final Dividend Today

MATBAKIN PTY: Inability to Pay Debt Prompts Winding Up
MINOTAUR DEVELOPMENTS: Members Opt for Voluntary Liquidation
MYER LIMITED: Parent Urged to Appoint Probity Officer
OZ TELECOM: Enters Voluntary Liquidation

PI DIRECT: Creditors Confirm Liquidator's Appointment
PLACER DOME: Says Barrick's Bid to Scrap Rights Plan 'Premature'
SANDAJ INVESTMENTS: Members Agree to Close Business
SPOOL LIMITED: Liquidator to Explain Wind Up Dec. 19
TELSTRA CORPORATION: Takes First Big Step in Hong Kong

TONY WHITE: Placed Under Voluntary Liquidation
WESTPOINT REAL: Creditors Resolve to Wind Up Business


C H I N A  &  H O N G  K O N G

BENELUX MANUFACTURING: Unveils Meeting Agenda
DAVENHAM ENGINEERING: Creditors Meeting Set Dec. 19
FU CHEONG: Enters Third Stage of Delisting Procedures
HYDROTECH PROFESSIONAL: Winding Up Hearing Slated for Jan. 25
LAPAGAYO LIMITED: Court to Hear Winding Up Petition Dec. 21

LIK CHUNG: Enters Winding Up Process
ORIENT TELECOMMUNICATION: Issues Creditors Meeting Notice
SCORE TARGET: Annual Meeting of Creditors Fixed December 19
STAR WORLD: Issues Notice to Creditors
TOY-MATE COMPANY: Court Issues Winding Up Order

WERNER CLADDING: Creditors Meeting Set Dec. 19
WIDE LAND: Court Issues Winding Up Petition
WO HING: Creditors Meeting Fixed December 19
ZHONG QUAN: Creditors to Convene Meeting Dec. 19


I N D I A

INDUSTRIAL INVESTMENT: Revival Tagged with IFCI's
* Minister Says Oil Firms to Lose US$7.7 Bln Revenue in 2005-06


I N D O N E S I A

PERTAMINA: Next Year's Fuel Imports May Go Down
PERTAMINA: Seeks to Extend LNG Contracts with Asian Buyers
PERUSAHAAN LISTRIK: Must Settle Debt to State Oil Firm


J A P A N

JAPAN AIRLINES: Morgan Stanley Maintains Overweight Rating
MITSUBISHI MOTORS: Shares Down 6.6% Friday
MITSUBISHI MOTORS: JP Morgan Becomes Top Shareholder
PIONEER CORPORATION: To Cut 2,600 Jobs
RESONA GROUP: Strengthens Business Tie-up With Credit Saison

SONY CORPORATION: Issuance New Shares in Sony Communications


K O R E A

KOREAN AIR: Eyes More Flight Cancellations as Strike Progresses


M A L A Y S I A

ANCOM BERHAD: Buys Back Ordinary Shares
AYER HITAM: Gets Shareholders Nod to Acquire New Shares
FURQAN BUSINESS: Unit Enters Into Deed of Novation with Kasturi
HONG LEONG: Dissolves Wholly Owned Unit
JIN LIN: Issues Update to Proposals

LEBAR DAUN: Pays Interest for ICULS
MAGNUM CORPORATION: Issues Notice of Shares Buy Back
MBF HOLDINGS: Unit Placed in Voluntary Winding Up
MEDIA PRIMA: Issues New Shares for Listing, Quotation
PILECON ENGINEERING: Issues Update to PN1 Status

PACIFIC & ORIENT: Buys Back New Shares
SETEGAP BERHAD: Formulates Scheme to Regularize Condition
SOUTHERN BANK: Chairman Steps Down from Post
TECHVENTURE BERHAD: Unveils Date of Restraining Order Extension


P H I L I P P I N E S

BACNOTAN CONSOLIDATED: Notes Changes in Shareholdings
LEPANTO CONSOLIDATED: To Receive Balance Payment Dec. 16
MANILA ELECTRIC: Customers Face Php107 Billing Hike
MANILA ELECTRIC: FPI Presses Payment of Overdue Refund
NATIONAL FOOD: Says Its Losses are Gains for Farmers

* PhilamLife Says Pre-need Firms to Recover Next Year


S I N G A P O R E

BAROMEDICAL SERVICES: Receiving Claims Until Jan. 3
CHARTERED SEMICONDUCTOR: Increases Quarterly Profit Guidance
CHINA AVIATION(S): Incurs Losses in Q2, Q3 FY/05
LIAN SHENG: To Declare Dividend
MUSIC JUNCTION: Court Releases Winding Up Order

PRISO PTE: Schedules Final Meeting Jan. 3


T H A I L A N D

ADVANCE PAINT: To Hold Warrant Exercise Dec. 30
PICNIC CORPORATION: Disposes of Unit's 70% Shares

     -  -  -  -  -  -  -  -      

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

A.&J. FOOD: Schedules Final Meeting Dec. 19
-------------------------------------------
Notice is given that a joint meeting of the members and
creditors of A.&J. Food Machines Services Pty Limited will be
held on Dec. 19, 2005, 10:00 a.m. at the offices of Ferrier
Hodgson, Level 29, 600 Bourke Street, Melbourne, Victoria, to
present the Liquidator's account showing the manner in which the
winding up of the Company was conducted and its property
disposed of, and to hear any explanations that may be given by
the Liquidator.

Dated this 7th day of November 2005

A. L. Brown
Liquidator
Ferrier Hodgson
Level 29, 600 Bourke Street
Melbourne Vic 3000


ALL IN ONE: Winds Up Business
-----------------------------
Notice is given that at a general meeting of the members of All
In One Grinding & Floor Preparation Pty Limited held no Nov. 17,
2005, it was resolved that Messrs Paul Burness and Morgan Lane,
Registered Liquidators of Worrells, Level 5, 15 Queen Street,
Melbourne Vic 3000 be appointed as appointed Liquidators in the
winding up of the Company.

Dated this 21st day of November 2005

Paul Burness
Morgan Lane
Liquidators
Worrells Solvency & Forensic Accountants
Level 5, 15 Queen Street
Melbourne Vic 3000
Phone: 03 9613 5500
Fax:   03 9614 3233
Web site: http://www.worrells.net.au/


BONDI MOTOR: Liquidator to Distribute Company Assets
----------------------------------------------------
At a general meeting of Bondi Motor Services Pty Limited held on
Nov. 25, 2005, the following Special Resolution was passed:

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

Dated this 25th day of November 2005

Terry Ringland
Liquidator
1/44A Perouse Road, Randwick NSW 2031


CLOUGH LIMITED: To Jumpstart Activities for Boddington Project
--------------------------------------------------------------
Clough Limited as part of a joint venture has been engaged by
the participants in the Boddington Gold Mine Joint Venture -
Newmont, AngloGold Ashanti and Newcrest - to commence early
engineering activities and secure critical long delivery time
items for the proposed Boddington Project.   

The contracted entity is an unincorporated joint venture between
Aker Kvaerner Australia and Clough Murray & Roberts (AKCMR Joint
Venture), and is the inaugural contract for the Clough Murray &
Roberts Strategic Alliance.   

This initial engagement of AKCMR is under the terms of a Limited
Notice to Proceed for a period of four months, during which time
the final feasibility study will be completed and a decision to
proceed with the project considered by each of the project owner
participants.   

Should the project proceed, the potential A$115 million joint
venture contract will involve the Engineering, Procurement and
Construction Management (EPCM) of gold and copper processing
facilities, capable of handling 35 million tonnes of ore per
annum.  The Boddington Project is located approximately 130km
south east of Perth in Western Australia.   

David Singleton, CEO and Managing Director of Clough Limited
said, "This is a great opportunity for Clough Murray & Roberts
to perform its inaugural project in the state of Western
Australia and for a joint venture of blue chip clients.   

"It is also pleasing to see the joint venture between Clough and
Aker Kvaerner continuing to be a successful combination. The
joint venture has recently completed an EPCM contract for Rio
Tinto's HIsmelt facility in Western Australia, and performed the
floatover of the Bayu Undan topsides for ConocoPhillips
Australia in 2004.   

"The award of the Boddington Project is aligned with our
strategy of performing 50% of the Group's activity from
engineering services and alliance style contracts," Mr.
Singleton said.   

Tom Quinn, Managing Director of Aker Kvaerner Australia said,
"This is a great opportunity for Clough and Aker Kvaerner to
continue our successful partnership based on leveraging our
complementary skills developing a major international scale
project in Western Australia for major resource clients."

CONTACT:

Clough Limited
Head Office &
Principal Registered Office
Level 6, 251 St Georges Terrace
Perth, Western Australia 6000
Telephone: +618 9281 9281
Facsimile: +618 9481 6699
E-mail: clough@clough.com.au
Web site: http://www.clough.com.au/


COLIN PRATT: Decides to Close Operations
----------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Colin Pratt Garden Design Pty Limited held on
Nov. 11, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. David H. Scott of Jones Condon Chartered
Accountants, 77 Station Street, Malvern Vic 3144 was appointed
as Liquidator at a creditors' meeting held that same day.

Dated this 14th day of November 2005

David H. Scott
Liquidator
Jones Condon Chartered Accountants
77 Station Street, Malvern Vic 3144


EG GREEN: Founding Family Seeks to Regain Control
-------------------------------------------------
The Green family, which has owned EG Green and Sons for three
generations, said it is confident it will regain control of the
failed abattoir, The West Australian relates.

The Greens made the statement even though it has yet to lock
away the funding needed to get the business out of
administration.

The family was among at least three groups, which submitted
rival proposals for the Harvey meatworks' future to
administrator Martin Jones of Ferrier Hodgson by Thursday's
deadline for unconditional offers.

Farm services giant Elders, EG Green's biggest creditor,
confirmed yesterday it had also lodged a final offer with South
Australian meat processor T & R Pastoral.

A rival consortium put together by corporate advisory firm
Mainsheet and backed by offshore investment funds Stark
Investments and Harmony Capital Partners also confirmed it had
made a final offer.

A fourth bid was also expected to have been lodged by Victorian-
based meat processor Tasman Group.

Meanwhile, Mr. Jones indicated he would like to put a
recommendation to creditors, collectively owed AU$73.7 million,
by as soon as next week, just under four months after it was put
into administration by the Green family.

Mr. Jones re-opened the works in September after a 20-day
shutdown but cut back the workforce by around half and reduced
its operation from two shifts to one and from seven days a week
to five.

CONTACT:

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


FAIRVIEW PROPERTIES: Liquidator to Detail Wind Up Manner
------------------------------------------------------
Notice is hereby given that a final meeting of the members and
Creditors of Fairview Properties Pty Limited will be held on
Dec. 19, 2005, 11:00 a.m. at Hall Chadwick, Level 29, 31 Market
Street, Sydney NSW 2000, for the following purposes:

BUSINESS

(1) To receive the Liquidator's account of his acts and dealings
and of the conduct of the winding up during the liquidation
period, ending on Dec. 19, 2005.

(2) Any other business.

Adrian Stewart Duncan
Liquidator
C/o Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000


F.R.D. PTY: Winding Up Process Initiated
----------------------------------------
Notice is hereby given that on Nov. 2, 2005, it was resolved by
special resolution that F.R.D. Pty Limited be wound up
voluntarily, and that Mr. David Levi of PKF Chartered
Accountants, Level 10, 1 Margaret Street, Sydney, be appointed
as Liquidator for such purpose.

Dated this 22nd day of November 2005

David Levi
Liquidator
PKF Chartered Accountants
Level 10, 1 Margaret Street
Sydney NSW 2000


G.N.M. LOGISTICS: Distributes Dividend to Creditors
---------------------------------------------------
G.N.M. Logistics Services Pty Limited will declare a dividend on
Dec. 12, 2005.

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

Dated this 12th day of October 2005

John Morgan
Liquidator
PKF Chartered Accountants
Level 10, 1 Margaret Street
Sydney NSW 2000
Phone: 02 9251 4100
Fax:   02 9240 9821
Web site: http://www.pkf.com.au


G RETAIL: Hopes Fade After Administration
-----------------------------------------
The end is near for G Retail Limited, as the Gowing family seeks
for a new tenant for its embattled men's wear chain, reports the
Sydney Morning Herald.

A recent newspaper advertisement announced that the landmark
retail space on the corner of Market and George streets Sydney
is on the market for the first time since 1929 - "subject to
vacant possession".

The advertisement, which says six floors are available, asks
interested parties to contact commercial property agents CB
Richard Ellis.

The Gowing family, acting through its listed investment company
Gowing Bros, had previously appointed property agents Savills to
fill office space in the historic building.

Hopes are rapidly fading for the 137-year-old men's wear
retailer after it fell into administration last month following
the collapse of bailout talks with budget retailer, Lowes.

Administrator Deloitte was continuing to search for a buyer of
the retail business.

Deloitte said last month it would be forced to liquidate G
Retail if no buyer was found by Christmas, the date it predicted
the retailer would run out of cash. About 190 jobs are at stake.

CONTACT:

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


KA&S PERRY: Members Agree to Wind Up Business
---------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of KA&S Perry Pty Limited held on Nov. 17, 2005,
it was resolved that the Company be wound up voluntarily, and
Mr. James Alexander Shaw of Ferrier Hodgson (Newcastle)
Chartered Accountants, Level 3, 2 Market Street, Newcastle NSW
2300 be appointed as Liquidator for the winding up.

Dated this 17th day of November 2005

James A. Shaw
Liquidator
Ferrier Hodgson Chartered Accountants
PO Box 840, Newcastle NSW 2300


KI PLANTATIONS: Members to Receive Liquidator's Report
------------------------------------------------------
Notice is given that a final meeting of the members of KI
Plantations Limited will be held on Dec. 19, 2005, 3:00 p.m. at
the offices of KordaMentha, Level 11, 37 St. Georges Terrace,
Perth WA for the following purposes:

AGENDA

(1) To receive the Liquidator's final account of acts and
dealings and the conduct of the winding up, and to hear any
explanations thereof.

(2) To consider any other matters which may properly be brought
before the meeting.

Dated this 2nd day of November 2005

Oren Zohar
Liquidator
KordaMentha (WA)
Level 11, 37 St. Georges Terrace
Perth WA
Phone: 08 9221 6999


KS EASTER: Court Orders Liquidation
-----------------------------------
On Nov. 14, 2005, the Supreme Court of New South Wales, Equity
Division appointed Mr. Christopher J. Palmer to be the
Liquidator in the winding up of KS Easter (Newcastle) Pty
Limited.

Dated this 6th day of December 2005

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


LA&BP HULBERT: Members Pass Winding Up Resolution
-------------------------------------------------
Notice is hereby given that at a general meeting of the members
of LA&BP Hulbert Pty Limited held on Nov. 17, 2005, it was
resolved that the Company be wound up voluntarily, and Ms. Vanda
Gould of Level 42, AAP Centre, 259 George Street, Sydney NSW
2000 be appointed as Liquidator for such purpose.

Dated this 17th day of November 2005

Vanda Gould
Liquidator
Level 42, AAP Centre
259 George Street
Sydney NSW


MARTINS AUSTRALIA: Declares Final Dividend Today
------------------------------------------------
Martins Australia Pty Limited will declare a final dividend
today, Dec. 12, 2005.

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

Dated this 9th day of November 2005

A. H. J. Wily
Liquidator
Armstrong Wily Chartered Accountants
Level 5, 75 Castlereagh Street
Sydney NSW 2000


MATBAKIN PTY: Inability to Pay Debt Prompts Winding Up
------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Matbakin Pty Limited held on Nov. 3, 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 the Company Liquidator.

Dated this 21st day of November 2005

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


MINOTAUR DEVELOPMENTS: Members Opt for Voluntary Liquidation
------------------------------------------------------------
On Nov. 18, 2005, Minotaur Developments Pty Limited was placed
under a members' voluntary liquidation, and Mr. Jamieson Louttit
was appointed as Liquidator for such purpose.

Jamieson Louttit
Liquidator
Jamieson Louttit & Associates
Level 15, 88 Pitt Street
Sydney NSW 2000
Phone: 02 9231 0505
Fax:   02 9231 0303


MYER LIMITED: Parent Urged to Appoint Probity Officer
-----------------------------------------------------
Coles Myer was urged to appoint an external probity officer to
monitor the connections between potential buyers of its unit,
Myer Limited, and Coles, The Australian reports.

The AU$450-million Myer sale is embroiled in perceptions of a
possible conflict of interest after The Australian revealed that
one of the parties lodging an indicative bid, Archer Capital,
has close links to Coles.

The report prompted several bidders to demand that Coles address
the possible conflict of interest in relation to the links
between Coles and some potential buyers of Myer.

The bidders advocating the appointment of a probity officer
requested anonymity, saying they were constrained by strict
provisions of a 22-page confidentiality agreement they signed to
get access to an information memorandum.

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


OZ TELECOM: Enters Voluntary Liquidation
----------------------------------------
Notice is hereby given that at a general meeting of the members
of OZ Telecom Pty Limited held on Nov. 18, 2005, it was resolved
that the Company be wound up voluntarily, and that Mr. Gregory
Stuart Andrews of G. S. Andrews & Associates, 22 Drummond
Street, Carlton 3053 be appointed as Liquidator for such winding
up.

Dated this 18th day of November 2005

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


PI DIRECT: Creditors Confirm Liquidator's Appointment
-----------------------------------------------------
Notice is hereby given that at a general meeting of the members
of PI Direct Pty Limited held on Nov. 11, 2005, a Special
Resolution was passed to voluntarily wind up the Company, and
Mr. M. F. Cooper was appointed as the Company Liquidator.

Creditors approved the Liquidator's appointment at a creditors'
meeting held later that day.

Dated this 11th day of November 2005

M. F. Cooper
Liquidator
Frasers Insolvency Advisory
Level 9, 99 Elizabeth Street
Sydney NSW 2000


PLACER DOME: Says Barrick's Bid to Scrap Rights Plan 'Premature'
----------------------------------------------------------------
Placer Dome Inc. responded to an application made by Barrick
Gold Corporation after the close of markets on Friday, Dec. 2,
2005 requesting that the British Columbia Securities Commission
(BCSC) effectively strike down Placer Dome's Shareholder Rights
Plan.

"Placer Dome is in active discussions with a number of parties
about a range of potential value-enhancing transactions," said
Peter Tomsett, President and Chief Executive Officer.

"By applying to "cease trade" the rights at this time, Barrick
is seeking to prematurely end the value-enhancing process Placer
Dome has underway and thereby deny Placer Dome shareholders the
opportunity to consider any potential alternatives to Barrick's
inadequate offer. Cutting that process short may be in Barrick's
interests, but it is certainly not in the best interests of
Placer Dome shareholders."

Placer Dome has had a shareholder rights plan in place since
1990, and it has received shareholder approval of prior rights
plans on numerous occasions since then. The current rights plan
is not a short-tem tactical rights plan adopted in response to
the Barrick offer. It was adopted on February 26, 2004 and
received the overwhelming approval of 79% of shareholders
represented in person or in proxy at the Annual and Special
Meeting of shareholders on May 5, 2004. Placer Dome shareholders
have therefore collectively expressed their view that it is in
their interests to be afforded the protection offered by the
rights plan in the event of an unsolicited offer that is not a
"Permitted Bid", such as the Barrick offer.

The "Permitted Bid" provisions of Placer Dome's Rights Plan
contain standard conditions, and include the requirement that an
offer be open for at least 60 days and meet other standards
designed to ensure that shareholders are treated fairly in any
offer. Barrick was free to make its offer a Permitted Bid but
chose not to do so. Placer Dome believes Barrick's choice could
deprive Placer Dome shareholders of the opportunity to consider
a superior alternative. By contrast, a number of pending and
recent unsolicited bids in Canada have either been made as
permitted bids or been open for acceptance for the minimum
period prescribed by the permitted bid provisions of the target
company's rights plan.

Placer Dome's Board of Directors is carrying out an active
process to generate a value-enhancing alternative to the Barrick
offer, which it views as opportunistic and inadequate, including
the appointment of a Special Committee of the Board to oversee
the process.

That process is ongoing. To date, Placer Dome has entered into
confidentiality and standstill agreements with, and provided
certain non-public financial and operating information of Placer
Dome to, a number of interested parties. Due to the strategic
value of Placer Dome's quality gold and copper assets, Placer
Dome's Board of Directors believes that Placer Dome and its
assets are potentially very attractive to other parties in
addition to Barrick.

Placer Dome has major mining operations located in Canada, the
United States, Australia, Papua New Guinea, South Africa,
Tanzania and Chile. Given the international scope of its
operations and the logistical complexity inherent in assessing
the value of mineral properties and conducting appropriate site
visits, potential bidders for Placer Dome require more than the
amount of time provided by the Barrick offer to assess Placer
Dome's value. In addition, potential alternative transactions
under consideration may involve negotiations with more than one
party or may involve consideration being offered to Placer Dome
shareholders in the form of securities of the acquiror,
requiring additional time to complete the negotiation of an
alternative transaction and for Placer Dome to conduct the
necessary due diligence with respect to the potential acquiror.

Placer Dome expects to file a formal response to Barrick's
application later this week.

Placer Dome is a global gold mining company employing more than
13,000 people at 16 mining operations in seven countries. The
Vancouver-based company's shares trade on the Toronto, New York,
Swiss and Australian stock exchanges and Euronext-Paris under
the symbol PDG.

Note to Security Holders:

In response to the exchange offer by Barrick Gold Corporation
relating to Placer Dome, Placer Dome has filed in Canada and the
U.S. and mailed to its shareholders a Directors' Circular dated
November 23, 2005, and has filed with the SEC a
Solicitation/Recommendation Statement on Schedule 14D-9, which
includes the Directors' Circular as an exhibit thereto. These
documents set forth the full response of the Board of Directors
of Placer Dome to the exchange offer by Barrick. Security
holders are urged to read the Directors' Circular, as well as
the Solicitation/Recommendation Statement on Schedule 14D-9
(including any amendments or supplements thereto and the other
documents filed as exhibits thereto), because they contain
important information. Security holders may obtain a free copy
of the Directors' Circular as well as any other documents filed
by Placer Dome in connection with the exchange offer by Barrick,
free of charge at the SEC's website at www.sec.gov, from Placer
Dome at www.placerdome.com, or by contacting Georgeson
Shareholder, the information agent retained by Placer Dome, at
1-866-245-2999.

CONTACT:

Investor Relations:
Greg Martin (604) 661-3795
Meghan Brown (604) 661-1577
Media Relations:
Gayle Stewart (604) 661-1911

Shareholder Inquiries:
Georgeson Shareholder Communications Canada Inc.
Placer Dome's Information Agent
Toll-free within North America 1-866-245-2999

Head office
Suite 1600, Bentall IV
1055 Dunsmuir Street
(PO Box 49330,
Bentall Postal Station)
Vancouver, B.C. Canada V7X 1P1
Phone: (604) 682-7082

Web site: http://www.placerdome.com


SANDAJ INVESTMENTS: Members Agree to Close Business
---------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Sandaj Investments Pty Limited held on Nov. 15, 2005, it was
resolved that the Company be wound up voluntarily, and that Mr.
Henry Kazar of SimsPartners Chartered Accountants, 32 Thesiger
Court, Deakin, ACT be appointed as Liquidator for such purpose.

Dated this 29th day of November 2005

Henry Kazar
Liquidator
SimsPartners Chartered Accountants
32 Thesiger Court, Deakin ACT 2600


SPOOL LIMITED: Liquidator to Explain Wind Up Dec. 19
----------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Spool Limited will be held on Dec. 19, 2005, 3:00
p.m. at the offices of Lawler Partners, 763 Hunter Street,
Newcastle West NSW 2302, to receive the Liquidator's account
showing the manner of the Company's winding up and disposal of
property, and to hear any explanations that may be given by the
Liquidator.

Dated this 15th day of November 2005

R. G. Tolcher
Liquidator
Lawler Partners Chartered Accountants
763 Hunter Street, Newcastle West NSW 2302


TELSTRA CORPORATION: Takes First Big Step in Hong Kong
------------------------------------------------------
Telstra Corporation announced that Hong Kong CSL Limited and New
World PCS Limited will be merged on a debt-free basis, giving
Telstra first mover advantage in the Hong Kong market and
significant cost savings.

The merged company will become H.K.'s largest mobile business
with 34 percent market share, creating scale benefits.

Telstra will own 76.4 percent of the merged company and receive
HK$244 million in cash (approx. AU$42 million), whilst New World
Mobile Holdings (NWMHL) will own 23.6 percent.

Telstra can nominate four directors to the Board of the merged
company (including the Chairman) and New World, two directors.

CSL's CEO, Hubert Ng, will be the CEO of the merged business --
to be called CSL New World Mobility Limited.

All of CSL's and New World's brands will be retained as they
target different market segments.

Telstra and NWMHL believe that they can achieve significant
synergies and cost savings through rationalization of networks,
I.T. systems and corporate support.

The merger is not expected to result in any gain or loss in
relation to Telstra's holding in CSL. Consequently, no change
will be made to Telstra's existing carrying value of CSL.

Telstra's CEO, Mr. Sol Trujillo, said, "The merged business will
have first mover advantage in the long-awaited consolidation of
the H.K. cellular market.

"A merged CSL and New World is well placed to provide leading
services in Hong Kong's dynamic, competitive market.

"The two customer bases are complementary - CSL predominantly
operates in the higher value customers, while New World has
achieved 17 percent market share by targeting value-conscious
subscribers through a low cost business model," he said.

Telstra CFO, Mr. John Stanhope, said, "CSL is already Hong
Kong's No. 1 mobile operator in terms of revenue per customer -
this merger will also make it No. 1 in terms of revenue,
profitability and subscriber numbers market. This merger is
expected to deliver over AU$400 million of cost savings.

"The merger meets Telstra's acquisition criteria. It is cash
flow positive and EPS accretive from year one; and its ROIC
exceeds consensus WACC in year two," he said.

This merger is subject to the approval of the NWMHL shareholders
and consent of the Telecommunications Authority of Hong Kong
with completion of the transaction targeted for March 31, 2006.

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/


TONY WHITE: Placed Under Voluntary Liquidation
----------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Tony White & Partners (Aust) Pty Limited held
on Nov. 14, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. James Patrick Downey of Cole Downey & Co.
Chartered Accountants, Level 1, 22 William Street, Melbourne,
Victoria 3000 was appointed as Liquidator at a creditors'
meeting held that same day.

Dated this 14th day of November 2005

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


WESTPOINT REAL: Creditors Resolve to Wind Up Business
-----------------------------------------------------
Notice is hereby given that on Nov. 15, 2005, the creditors of
Westpoint Real Estate Pty Limited resolved to wind up the
Company voluntarily.

Bruno A. Secatore
Daniel P. Juratowitch
Liquidators
Bentleys MRI
Level 7, 114 William Street
Melbourne Vic 3000


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

BENELUX MANUFACTURING: Unveils Meeting Agenda
---------------------------------------------
Notice is hereby given that Meetings of the Members and
Creditors of Benelux Manufacturing Limited (In Compulsory
Liquidation) will be held at Room 209, Duke of Windsor Social
Service Building, 15 Hennessy Road, Wanchai, Hong Kong on
December 19, 2005 at 10 a.m. and 10:30 a.m.

Agenda

To consider and if thought fit pass the following resolutions:

1. "that the resignation of Mr. Fan Wai Kuen as Joint and
Several Liquidator be accepted";

2. "that the vacancy arising as a consequence of the resignation
of Mr. Fan be filled by Mr. Stephen Briscoe".

Dated this 9th of December 2005.

Fan Wai Kuen
Joint and Several Liquidator

Note: Creditors or members may vote either in person or by
proxy.  To be valid, a proxy must be lodged at 5/F, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong no
later than 4.00 p.m. on the day before the meeting or adjourned
meeting at which the voting is to be held.


DAVENHAM ENGINEERING: Creditors Meeting Set Dec. 19
---------------------------------------------------
Notice is hereby given that Meetings of the Members and
Creditors of Davenham Engineering Projects Limited (In
Compulsory Liquidation) will be held at Room 209, Duke of
Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong
Kong on December 19, 2005 at 11 a.m. and 11:30 a.m.
respectively.

Agenda

To consider and if thought fit pass the following resolutions:

1. "that the resignations of Mr. Fan Wai Kuen and Mr. David John
Kennedy as Joint and Several Liquidators be accepted";

2. "that the vacancies arising as a consequence of the
resignations of Mr. Fan and Mr. Kennedy be filled by Mr. Stephen
Briscoe and Mr. Cosimo Borrelli."

Dated this 9th of December 2005.

Fan Wai Kuen
Joint and Several Liquidator

Note: Creditors or members may vote either in person or by
proxy.  To be valid, a proxy must be lodged at 5/F, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong no
later than 4 p.m. on the day before the meeting or adjourned
meeting at which the voting is to be held.


FU CHEONG: Enters Third Stage of Delisting Procedures
-----------------------------------------------------
The Stock Exchange of Hong Kong Limited announced that effective
from the date of this announcement, Fu Cheong International
Holdings Limited will be placed into the third stage of the
delisting procedures in accordance with Practice Note 17 to the
Listing Rules. Practice Note 17 formalizes the procedures to be
adopted in dealing with long suspended companies.

Dealing in the shares of the Company has been suspended since
December 16, 2002. At the end of the second stage of the
Delisting Procedures, the Company has not submitted valid
resumption proposal. A valid resumption proposal, among other
things, would enable the Company to demonstrate that it complies
with Listing Rule 13.24. Under Listing Rule 13.24, the Company
is required to carry out, directly or indirectly, a sufficient
level of operations or have tangible assets of sufficient value
and/or intangible assets for which a sufficient potential value
can be demonstrated to the Exchange to warrant the continued
listing of the Company's shares on the Exchange.

Besides, given the circumstances of this case, the Company is
required to (a) address to the Exchange's satisfaction concerns
about the allegations in relation to inaccurate information
contained in the Company's prospectus dated 13 March 2002
already highlighted by the Exchange to the Company; and (b)
provide detailed account of work undertaken by independent
persons to investigate and address the Allegations and to
substantiate the Company's compliance with all new listing
requirements under the Listing Rules and applicable laws and
regulations together with an analysis which can demonstrate the
Company's suitability for listing at the time of listing and
subsequently.

In view of the absence of valid resumption proposal and the
Company's continued failure to demonstrate its compliance with
the requirements stipulated under Listing Rule 13.24, the
Company will now be placed in the third stage of the Delisting
Procedures. The Company will have a final six months for the
submission of a valid resumption proposal to the Exchange. A
valid resumption proposal should be submitted at least 10
business days as defined in the Listing Rules before the expiry
of the six-month period. If the Company does not submit a valid
resumption proposal as required, the Exchange intends to cancel
the listing of the Company on the expiry of the six-month period
from 8 December 2005, i.e. on 7 June 2006.

The Exchange will make a further announcement in due course if
the delisting takes place.

CONTACT:

Fu Cheong International Holdings Ltd.
Flat 6 3F Block 2
Tak Fung Industrial Centre
166-176 Texaco Rd., Tsuen Wan
New Territorie , Hong Kong
Phone: 852 2406 8936
Fax: 852 2406 8896


HYDROTECH PROFESSIONAL: Winding Up Hearing Slated for Jan. 25
-------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Hydrotech Professional Limited by the High Court of Hong Kong
Special Administrative Region was on November 15, 2005 presented
to the said Court by First-Tech Engineering Limited whose
registered office is situate at Room 1, Ground Floor, Transport
City Building, 1-7 Shing Wan Road, Shatin, New Territories, Hong
Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on January 25, 2006.

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

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

T. C. LAU & CO.
Solicitors for the Petitioner
Room 501-2
China Insurance Group Building
No. 141 Des Voeux Road Central
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 24, 2006.


LAPAGAYO LIMITED: Court to Hear Winding Up Petition Dec. 21
-----------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Lapagayo (Asia Pacific) Limited by the High Court of Hong Kong
was on October 28, 2005 presented to the said Court by Hui Yuk
Fong of No. 31, Lane 2, Tung Tau Wai, Wang Chau, Yuen Long, New
Territories, Hong Kong.  

The said petition is directed to be heard before the Court at
9:30 a.m. on December 21, 2005.

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

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

(BETTY CHAN)
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of December 20, 2005.


LIK CHUNG: Enters Winding Up Process
------------------------------------
Notice is hereby given that a Petition for the Winding up of Lik
Chung Group (Investments) Limited by the High Court of Hong Kong
Special Administrative Region was on November 11, 2005 presented
to the said Court by Bank of China (Hong Kong) Limited (the
successor banking corporation to Kincheng Banking Corporation
pursuant to Bank of China (Hong Kong) Limited (Merger) Ordinance
(Cap.1167) whose registered office is situated at 14th Floor,
Bank of China Tower, 1 Garden Road, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 am on January 4, 2006.

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

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

GALLANT Y. T. HO & CO.
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 3, 2006.


ORIENT TELECOMMUNICATION: Issues Creditors Meeting Notice
---------------------------------------------------------
Notice is hereby given that pursuant to Section 241 of the
Companies Ordinance, a meeting of creditors of Orient
Telecommunication Networks (HK) Limited (In Liquidation) will be
held at Training Room C, Unit 1, Ground Floor, the Centre, 99
QAueen's Road Central, Hong Kong at 10:30 a.m. on December 16,
2005 for the purposes provided for in Sections 241, 242, 243,
244 and 255A of the Companies Ordinance.

Creditors may vote either in person or by proxy. Proxies to be
used at the meeting must be lodged at 13/F Gloucester Tower, The
Landmark, 11 Pedder Street, Central, Hong Kong or sent by fax at
(852) 2218 3518 not later than 4 p.m. on the day before the
meeting or any adjourned meeting at which they are to be used.

Dated this 9th day of December 2005.

Alan C. W. Tang
Alison Wong Lee Fung Ying
Joint and Several Liquidators


SCORE TARGET: Annual Meeting of Creditors Fixed December 19
-----------------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), the annual meetings of the
Creditors and Contributories of Score Target Investment Limited
(In Creditors' Voluntary Liquidation) will be held at the office
of Grant Thornton, 13/F., Gloucester Tower, The Landmark, 11
Pedder Street, Central, Hong Kong on December 19, 2005 at the
times specified below, for the purpose of having an account laid
before the meetings by the Joint and Several liquidators of
their acts and dealings and of the conduct of the winding- up.

Creditors' Meeting: 11 a.m.
Contributories' Meeting: 11:30 a.m.

Creditors and Contributories may attend and vote either in
person or by proxy. Form of general proxy is enclosed herewith.
Proxy from to be used at the Meetings must be lodged at 13th
Floor, Gloucester Tower, The Landmark, 11 Pedder Street, Central
Hong Kong or sent by facsimile to 2218 3500, not later than 4
p.m. on the day before the meetings or any adjourned meetings at
which they are to be used.

Dated this 9 day of December 2005

Alan C. Tang
Wong Kwok Man
Joint and Several Liquidators


STAR WORLD: Issues Notice to Creditors
--------------------------------------
Notice is hereby given that Meetings of the Members and
Creditors of Star World International Limited (In Compulsory
Liquidation) will be held at Room 209, Duke of Windsor Social
Service Building, 15 Hennessy Road, Wanchai, Hong Kong, on
December 19, 2005 at 4 p.m. and 4:30 p.m. respectively.

Agenda

To consider and if thought fit pass the following resolutions:

1. "that the resignation of Mr. Fan Wai Kuen as Joint and
Several Liquidator be accepted";

2. "that the vacancy arising as a consequence of the resignation
of Mr. Fan shall be filled by Mr. Stephen Briscoe".

Dated this 9th of December 2005.

Fan Wai Kuen
Joint and Several Liquidator


Note: Creditors or members may vote either in person or by
proxy.  To be valid, a proxy must be lodged at 5/F, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong no
later than 4 p.m. on the day before the meeting or adjourned
meeting at which the voting is to be held.


TOY-MATE COMPANY: Court Issues Winding Up Order
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Toy-Mate (HK) Company Limited by the High Court of Hong Kong
Special Administrative Region was on the 18th day of November
2005 present to the said Court by Poon Sau Tin of Units 9-10,
4th Floor, Kinglet Industrial Building, 21-23 Shing Wan Road,
Tai Wai, Shatin, New Territories, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on the January 11, 2006.

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

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

C Y CHAN & COMPANY
Solicitors for the Petitioner
Room 602, Tower 2, Admiralty Centre
18 Harcourt Road
Admiralty, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 10, 2006.


WERNER CLADDING: Creditors Meeting Set Dec. 19
----------------------------------------------
Notice is hereby given that Meetings of the Members and
Creditors of Werner Cladding Systems (Asia) Limited (In
Compulsory Liquidation) will be held at Room 209, Duke of
Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong
Kong on December 19, 2005 at 12 noon and 12:30 p.m.
respectively.

Agenda

To consider and if thought fit pass the following resolutions:

1. "that the resignation of Mr. Wong Tak Man, Stephen as Joint
and Several Liquidator be accepted";

2. "that the vacancy arising as a consequence of the resignation
of Mr. Wong shall be filled by Mr. Stephen Briscoe."

Dated this 9th of December 2005.

Wong Tak Man, Stephen
Joint and Several Liquidator

Note: Creditors or members may vote either in person or by
proxy.  To be valid, a proxy must be lodged at 5/F, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong no
later than 4 p.m. on the day before the meeting or adjourned
meeting at which the voting is to be held.


WIDE LAND: Court Issues Winding Up Petition
-------------------------------------------
Notice is hereby given that a Petition for an Order that Wide
Land Purchasing Centre Limited be wound up or alternatively the
company, Ma Kwok Po and Yau Wai Keung be ordered to purchase
Chow Hing Eric (Petitioner)'s shares (i.e. 4,000,000 shares) in
the company at a reasonable or fair price after appropriate
adjustments are made to the accounts of the said Company or such
other prices as may be determined by the Court or alternatively
the relieves be granted to the Petitioner under Sections 168A
and/or 177(1)(f) of the Companies Ordinance, Chapter 32 of the
Laws of Hong Kong as the Court thinks fit or for such other
order as shall be just was presented to the High Court of Hong
Kong on the 17th day of November 2005 by Chow Hing Eric of Flat
H, 1st Floor, Tower 11, Ocean Shores, Tseung Kwan O, 88 O King
Road, Sai Kung, New Territories, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on January 18, 2006.

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

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

FOO, LEUNG & YEUNG
Solicitors for the Petitioner
Unit 2, 18th Floor, C.M.A. Building
64 Connaught Road Central
Central, Hong Kong
Phone: 2543 0083   
Fax: 2543 1886

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 17, 2006.


WO HING: Creditors Meeting Fixed December 19
--------------------------------------------
Notice is hereby given that Meetings of the Members and
Creditors of Wo Hing Engineering Limited (In Compulsory
Liquidation) will be held at Room 209, Duke of Windsor Social
Service Building, 15 Hennessy Road, Wanchai, Hong Kong on
December 19, 2005 at 2 p.m. and 2:30 p.m. respectively.

Agenda

To consider and if thought fit pass the following resolutions:

1. "that the resignations of Mr. Fan Wai Kuen and Mr. David John
Kennedy as Joint and Several Liquidators be accepted";

2. "that the vacancies arising as a consequence of the
resignations of Mr. Fan and Mr. Kennedy shall be filled by Mr.
Stephen Briscoe and Mr. Cosimo Borrelli."

Dated this 9th of December 2005.

Fan Wai Kuen
Joint and Several Liquidator

Note:Creditors or members may vote either in person or by proxy.  
To be valid, a proxy must be lodged at 5/F, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong no later than
4 p.m. on the day before the meeting or adjourned meeting at
which the voting is to be held.


ZHONG QUAN: Creditors to Convene Meeting Dec. 19
------------------------------------------------
Notice is hereby given that Meetings of the Members and
Creditors of Zhong Quan Cheuk Kei Engineering Company Limited
(In Compulsory Liquidation) will be held at Room 209, Duke of
Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong
Kong on December 19, 2005 at 3 p.m. and 3:30 p.m. respectively.

Agenda

To consider and if thought fit pass the following resolutions:

1. "that the resignations of Mr. Fan Wai Kuen and Mr. David John
Kennedy as Joint and Several Liquidators be accepted";

2. "that the vacancies arising as a consequence of the
resignations of Mr. Fan and Mr Kennedy shall be filled by Mr.
Stephen Briscoe and Mr. Cosimo Borrelli".

Dated this 9th of December 2005.

Fan Wai Kuen
Joint and Several Liquidator

Note: Creditors or members may vote either in person or by
proxy.  To be valid, a proxy must be lodged at 5/F, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong no
later than 4 p.m. on the day before the meeting or adjourned
meeting at which the voting is to be held.


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

INDUSTRIAL INVESTMENT: Revival Tagged with IFCI's
-------------------------------------------------
The Union Finance Ministry has decided that the fate of the
ailing Industrial Investment Bank of India (IIBI) will be tagged
with that of IFCI Ltd, The Telegraph reveals.

Thus, instead of following an independent path, IIBI will have
to adopt the same route that will eventually be decided for the
future of IFCI.

With a stand-alone turnaround having been ruled out for either
of the entities, the government has no other way but to look out
for suitable merger plans with stronger institutions.

In fact, the government has refrained from providing the INR65-
crore recap fund IIBI had asked for its revival. The tying up of
the revival of IIBI and IFCI together signals a shift from the
earlier plans chalked out by the government for the Calcutta-
based financial institution.

The finance ministry at one point had virtually made up its mind
to merge IIBI with IDBI Ltd and IDBI had also carried out a due
diligence on IIBI pending a possible merger.

With the finance ministry now exploring a new option for IFCI in
addition to the earlier proposal of merger with either IDBI Ltd
or Punjab National Bank, the present move linking the two
financial institutions, IIBI and IFCI, assumes significance.

Reportedly, Life Insurance Corporation of India is also now
being considered as a possible option with which IFCI could be
merged. The financial institution's expertise in corporate
appraisal for term financing could come handy for the life
insurance behemoth in appraising LIC's long-term exposure,
especially to the infrastructure sector.

The latest development would also mean that the ministry is not
looking at a possible winding up of IIBI as has been conjectured
by certain quarters.

CONTACT:

Industrial Investment Bank of India Limited
10th Floor, Jeevan Prakash, 25 K.G. Marg,
New Delhi-110 001
Phone: 331 4774/2819, 371 5749/5751,
Fax : 335 7526

Earnest Hse, 11th Flr, 194 Nariman Pt,
Mumbai-400 021
Phone: 204 0361/204 0489/2725
Fax : 285 0134

Spencer Plaza, 7th Flr, 769 Anna Salai, Chennai-2
Phone: 852 1536, 852 4016, 852 4912
Fax : 852 4905

N 603, 6th Floor, Manipal Center, 47 Dickenson Road,
Bangalore-560 042
Phone: 559 7158/8001/8101/8181
Fax : 558 9836


* Minister Says Oil Firms to Lose US$7.7 Bln Revenue in 2005-06
---------------------------------------------------------------
Indian oil refining and retailing firms expect a revenue loss of
INR355.52 billion in the year to March 2006, Reuters reports
citing India Oil Minister Mani Shankar Aiyar.

This includes INR206.52 billion on account of subsidized
kerosene and cooking gas and INR149 billion because of
government controls on petrol and diesel prices. The estimated
revenue loss in 2005/06 is 76 percent more than the previous
fiscal year's US$4.3 billion.

"Since domestic prices of sensitive petroleum products have not
been revised in line with international prices, oil marketing
companies have incurred (revenue losses)," Mr. Aiyar told the
parliament.

India raised administered prices of petrol and diesel by 7
percent in September, matching a similar increase in June.

But oil retailing firms, including Indian Oil Corp, Bharat
Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, which all
reported losses for April-June, said the rise was inadequate.

The prices of cooking gas, consumed mostly by the middle class,
and kerosene, used by the poor to light their homes, were left
unchanged.

The federal coalition government has allowed only a moderate
increase in fuel prices as its key political allies,
particularly the communists, have strongly opposed the move.


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

PERTAMINA: Next Year's Fuel Imports May Go Down
-----------------------------------------------
State oil firm PT Pertamina said that it is expecting its fuel
imports for January 2006 to fall by 29.2%, reports Dow Jones.

According to Pertamina Marketing Director Arie Sumarno, demand
for petroleum products have continued to decrease since the
government increased fuel prices last October.

As a result, the Company's purchase of fuel products would fall
by between 500,000 to 600,000 barrels per day in January 2006.
This means that fuel imports would fall from 12 million barrels
in 2005 to 8.5 million barrels next month.

At present, Pertamina has a fuel reserve level adequate for 26
days' consumption.

CONTACT:

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


PERTAMINA: Seeks to Extend LNG Contracts with Asian Buyers
----------------------------------------------------------
State oil and gas firm PT Pertamina halted negotiations with its
Asian buyers (e.g. Japan, South Korea and Taiwan) to extend
their liquefied natural gas (LNG) contracts, Asia Pulse reports.

The Company had signed a contract to export up to 6 million tons
of LNG to its traditional buyers until 2010, but the buyers had
asked to extend existing contracts after that time.

Pertamina suspended its LNG exports last month, to verify the
amount of LNG alloted for export, according to Pertamina
Marketing Director Arie Sumarno. He added, however, that the
temporary suspension would not disturb existing annual LNG
deliveries.


PERUSAHAAN LISTRIK: Must Settle Debt to State Oil Firm
------------------------------------------------------
State oil firm PT Pertamina threatened to cut off its fuel suply
to state power firm PT Perusahaan Listrik Negara (PLN), if it
would not settle its IDR6 trillion debt, reports Asia Pulse.

Pertamina Finance Director Alfred H. Rohimone said that the
drastic measure is due to PLN's failure to pay its arrears;
however, they will ask PLN which fuel supplies could be reduced.

The Company's board of commissioners had reprimanded management
for allowing PLN's debt to grow so large. Pertamina had written
to PLN many times to remind the firm to settle its debts, but to
no avail. PLN currently uses up 8.6 million kiloiters of fuel
annually.

CONTACT:

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


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

JAPAN AIRLINES: Morgan Stanley Maintains Overweight Rating
----------------------------------------------------------
Morgan Stanley has maintained its "overweight" rating on Japan
Airlines Corporation, while reducing their estimates for the
airline, Newratings.com reports. The target price has been
reduced from JPY350 to JPY340.

Analysts at Morgan Stanley mentioned that the downward revision
in the target price reflects the sluggish earnings in fiscal
year 2005 and a slower recovery in the earnings in fiscal 2006
than was earlier expected.

The analysts expect a shift in passenger preference from Japan
Airlines to All Nippon Airways in the near term due to the
problems the former was witnessing with its aircrafts.

The earnings per share estimates for fiscal 2005 and fiscal 2006
have been reduced from -JPY22 to -JPY48.50 and from -JPY11.40 to
-JPY17.40, respectively.

CONTACT:

Japan Airlines Corporation Company
2-4-11, Higashi-shinagawa,
Shinagawa-ku, Tokyo
140-8605, Japan  
Phone: +81-0120-25-5931


MITSUBISHI MOTORS: Shares Down 6.6% on Friday
---------------------------------------------
Mitsubishi Motors Corporation (MMC) shares fell 6.6 percent to
254 yen on Friday, on concern that an oversupply of shares could
push prices lower, according to Reuters.

JPMorgan Securities said on Thursday it had bought 525 million
shares in the Japanese automaker from investment funds managed
by Tokyo-based Phoenix Capital, and intended to sell them to
institutional investors outside Japan.

CONTACT:

Mitsubishi Motors Corporation Company
2-16-4 Konan, Minato-ku
Tokyo 108-8410, Japan  
Phone: +81-3-6719-2111
Fax: +81-3-6719-0059


MITSUBISHI MOTORS: JP Morgan Becomes Top Shareholder
----------------------------------------------------
The following movement of major shareholders occurred on
December 8, 2005.

1. Background of the transfer

JP Morgan Securities Ltd. announced on December 8 that due to a
purchase of common shares from funds controlled by Phoenix
Capital, the company now holds 557,580,433 Mitsubishi Motors
Corporation (MMC) shares. With this purchase, as detailed below,
JP Morgan Securities Ltd. has become a major MMC shareholder.

2. Party involved

Name J.P. Morgan Securities Ltd.
Head Office 125 London Wall, London ECY 5AJ, UK
Representative James T. Brown
Main Operations Securities

3. Number of shares held, ownership percentage, and shareholder
rank

J.P. Morgan Securities Ltd. Shares Held Ownership Percentage
Rank

Pre-purchase 32,580,433 0.72% -
Post-purchase 557,580,433 11.35% No. 3
* a. Common shares outstanding as of Dec. 7, 2005  4,490,401,399
b. Non-voting right carrying shares 4,679,399
a - b 4,485,722,000
* a. Common shares outstanding as of Dec. 8, 2005 4,917,250,472
b. Non-voting right carrying shares 4,680,472
a - b 4,912,570,000

As of December 8, 2005, all outstanding B class preferred shares
have been converted.

4. Date of transaction

December 8, 2005

5. Expectations going forward

In order to secure the revitalization of Mitsubishi Motors
Corporation, domestically and globally and from an operational
and financial perspective, with the cooperation of 3 Mitsubishi
group companies, Mitsubishi Heavy Industries, Ltd. (MHI),
Mitsubishi Corporation (MC), and The Bank of Tokyo-Mitsubishi,
Ltd. (BTM), the 3-year business plan announced on January 28,
2005 is being implemented.

As announced together with the 3-year business plan, MHI, MC,
and BTM will increase their holdings in MMC to a combined 34% of
outstanding common shares during fiscal 2005.

To this end, through the conversion of preferred shares, MHI
will increase its holdings in MMC to 15% of outstanding common
shares on December 2005. As a result, MMC will become an equity-
method affiliate of MHI.

Currently, members of MHI, MC, and BTM sit on MMC's board of
directors and audit committee. Also, through the Business
Revitalization Monitoring Committee, MMC receives a thorough
outside check of on the progress of the business plan as well as
advice as requested. These are examples of the continued strong
support and guidance MMC is receiving from the 3 Mitsubishi
group companies.

With the support from these 3 companies as a foundation, all
directors and staff of MMC are combining all efforts into the
promotion of the 3-year plan.


PIONEER CORPORATION: To Cut 2,600 Jobs
--------------------------------------
Pioneer Corporation plans to slash 2,600 jobs at about 8 percent
of its global workforce, and scale back its plasma display panel
television business as part of its restructuring scheme, Japan
Today reports.

The company anticipates its group net loss for the business year
through next March will expand to JPY87 billion from the October
estimate of JPY24 billion as it will book a JPY53 billion loss
stemming from restructuring measures.

The audio equipment manufacturer plans to shore up its car audio
and navigation system businesses, expecting an expansion in
overseas markets in those areas.

CONTACT:

Pioneer Corporation
4-1, Meguro 1-chome, Meguro-ku
Tokyo 153-8654, Japan  
Phone: +81-3-3495-6774
Fax: +81-3-3495-4301


RESONA GROUP: Strengthens Business Tie-up With Credit Saison
------------------------------------------------------------
Resona Holdings, Inc. (President: Kenji Kawada), Resona Card
Co., Ltd. (President: Mitsuo Yokoyama) and Credit Saison Co.,
Ltd. (President: Hiroshi Rinno) came to an agreement to further
strengthen the business tie-up between Resona Group and Credit
Saison in the field of credit card business based on the
existing business and capital tie-up which was announced in
February 2004.

As part of such strengthened alliance, Credit Saison acquired a
12.4% of Resona Card's ordinary shares on December 8.

With the acquisition of additional shares, Credit Saison now
owns 22.4% of Resona Card's outstanding shares.

Resona Card remains to be a consolidated subsidiary of Resona
Holdings and became an affiliated company for Credit Saison to
which equity method is applicable.

Both parties will further strengthen the business tie-up and
deliver the best quality financial services to customers.

[Current status of the Business Tie-up]

1. Capital relationship

In August 2004, Resona Card increased its capital through
allotment of new shares to a third party. Credit
Saison acquired a 10% stake in Resona Card by subscribing all of
such new shares. With the aforementioned acquisition of
additional shares, Credit Saison became the second largest
shareholder of Resona Card after Resona Holdings.

2. Exchange of personnel

Mitsuo Yokoyama, who once was a director of Credit Saison, was
appointed president of Resona Card in June 2005. Also, Credit
Saison dispatched one executive officer and three staff members
to Resona Card.

3. Credit card business

Resona Card , a jointly developed dual brand card, was
launched in September 2004. The new card incorporated the
various services offered by retailer-affiliated credit card
companies and attracted especially female and young generation
customers. The number of the new card holders is approximately
280,000 as of the end of September, this year.

For a copy of the press release, go to
http://bankrupt.com/misc/tcrap_resona120905.pdf

CONTACT:

Resona Holdings, Inc.
Address:  2-1, Bingomachi 2-chome, Chuo-ku
Osaka 540-8608, Japan
Phone: +81-6-6271-1221
Fax: +81-6-6268-1337
Web site: http://www.resona-hd.co.jp


SONY CORPORATION: Issuance New Shares in Sony Communications
------------------------------------------------------------
On December 20, 2005, Sony Communication Network Corporation
(SCN), a consolidated subsidiary of Sony Corporation, plans to
list its common stock on the Mothers market of the Tokyo Stock
Exchange. In association with this listing, it was determined
today that the offer price per share for the public offering of
new and existing shares of SCN common stock is to be JPY340,000
per share.

Regarding the impact on Sony's consolidated financial results
for the fiscal year ending March 31, 2006, Sony estimates that
the above-mentioned public offering will contribute
approximately JPY19.0 billion to consolidated income before
taxes and approximately JPY11.2 billion to consolidated net
income. The impact of this transaction is not incorporated
within the outlook for the fiscal year ending March 31, 2006,
announced by Sony on October 27, 2005.

Details of this public offering of new and existing shares are
stated below:

(1) Number of Shares to be Sold by Sony and Sony Finance
International (SFI):

70,000 shares
  (Shares to be sold by Sony: 66,000 shares)
  (Shares to be sold by SFI: 4,000 shares)

In addition to the number of shares stated above, Sony has
granted an option to purchase up to 12,000 additional shares
(the Greenshoe Option) to one of the underwriters. The Greenshoe
Option will be exercisable until January 13, 2006.

(2) Number of New Shares to be Issued by SCN:

20,000 shares

(3) Shares of SCN Held by Sony After the Public Offering:

165,520 shares

(This represents approximately 64.8% of the outstanding shares
of SCN, including the issuance of new shares but excluding the
Greenshoe Option described above.)

(4) Method of Sale and Offering:

Secondary offering (in the case of shares to be sold by Sony and
SFI) and primary offering (in the case of the newly issued
shares) to the public in Japan.

CONTACT:

Sony Corporation
7-35, Kitashinagawa, 6-chome, Shinagawa-ku
Tokyo, 141-0001, Japan
Phone: +81-3-5448-2111
Fax: +81-3-5448-2244
Web site: http://www.sony.net


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

KOREAN AIR: Eyes More Flight Cancellations as Strike Progresses
---------------------------------------------------------------
The walkout staged by the union of Korean Air Co. resulted to
cancellation of flights from the domestic and international
route, Associated Press reveals.

Some 204 passengers and cargo flights have been cancelled on the
first day of the strike, suspending about 53 percent of
scheduled flights.  More cancellations were expected to occur
Friday, and are believed to reach to 253 or 63 percent of the
total.

International passenger flights such as Tokyo, Los Angeles,
Dallas, Beijing and Shanghai, New York, Bangkok and San
Francisco have been affected.

Of the 1,980 pilots, 1,344 belong to the organization. Some 500
union members were seen shortly after the strike began. The
strikers gathered near the Incheon International Airport.

The Ministry of Construction and Transport is seeking the
Ministry of Labor's help to invoke emergency powers to stop the
strike. But the Ministry said it is still looking into the
situation, and it couldn't decide yet on the fate of the
strikers.

The government could only invoke its emergency powers if the
strike is considered critical to the national economy.  It was
remembered that the government only did so twice; in 1993 during
unrest at Hyundai Motor Co. and in 1969 at Korea Shipbuilding
Corp.

The work stoppage at Korean Air appeared certain to cause
problems for South Koreans traveling overseas ahead of the year-
end holidays, and could hurt the country's exports, a key source
of economic growth.

A business group has predicted that the strike could cost the
economy up to $200 million in lost exports everyday.  South
Korea is the world's 11th-largest economy and home to top flight
exporters like Samsung Electronics Co.

Korean Air said the strike would suspend about 70 percent of
operations.  The carrier eyes loss and additional expense to
reach KRW25.3 billion a day as a result of the strike.

The union staged the strike following the Company's refusal to
their demand of an eight percent hike in annual wages.  The
airline only offered a three percent increase.

The Carrier reasoned that the eight percent demand is too high
considering high fuel costs and unfavorable business environment
the airline is currently facing.

CONTACT:

Korean Air
41-3 Seosomun-dong Jung-Gu
Seoul, Seoul 100-813
KOREA (SOUTH)
Phone: +82 2 656 7114
Fax: +82 2 656 7169


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

ANCOM BERHAD: Buys Back Ordinary Shares
---------------------------------------
Ancom Berhad submitted to Bursa Malaysia Securities Berhad a
notice of shares buy back with the following details:
   
Date of buy back: December 5, 2005

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

Total number of shares purchased (units): 78,100

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

Maximum price paid for each share purchased (MYR): 0.700

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 78,100

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

Cumulative net outstanding treasury shares as at to-date
(units): 8,367,803

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
   

AYER HITAM: Gets Shareholders Nod to Acquire New Shares
-------------------------------------------------------
The Ayer Hitam Planting Syndicate Berhad (TAHPS) issued to Bursa
Malaysia Securities Berhad details of the proposed acquisition
by TAHPS of 20,000,001 ordinary shares of MYR1.00 each in Bukit
Hitam Development Sdn Bhd (Bukit Hitam) from Perbadanan Kemajuan
Negeri Selangor for a total cash consideration of
MYR104,000,005.20 or at MYR5.20 per share (Proposed
Acquisition).

On behalf of the Company, Commerce International Merchant
Bankers Berhad advised the Exchange that the shareholders of
TAHPS have approved the Proposed Acquisition at the
Extraordinary General Meeting of the Company.

This announcement is dated 5 December 2005.

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
8 Jalan Raja Chulan
50200 Kuala Lumpur, 50200
Malaysia
Telephone: +60 3 2031 9633 /+60 3 2031 6920


FURQAN BUSINESS: Unit Enters Into Deed of Novation with Kasturi
---------------------------------------------------------------
Furqan Business Organization Berhad furnished Bursa Malaysia
Securities Berhad details of the disposal of property by
subsidiary company, Austral Amal Properties Sdn. Bhd.

The announcement on September 20, 2005 pertaining to the Sale
and Purchase Agreement entered by Austral Amal Properties Sdn.
Bhd. (Company No. 345239-T) (AAP), a wholly owned subsidiary,
with Kasturi Gemilang Sdn. Bhd. (the Purchaser) dated September
16, 2005 (Principal Sale Agreement) to dispose of all that piece
of industrial leasehold land held under PN 3940 for Lot 24
Section 36 in the Town of Petaling Jaya, Negeri Selangor Darul
Ehsan measuring approximately 8172.5988 sq. metre (87972 sq. ft)
together with a six storey light industrial building known as
Kompleks Kemajuan having an approximate built up area of 330,000
sq. ft. erected thereon bearing postal address No 24, Jalan
19/1, 46300 Petaling Jaya, Selangor Darul Ehsan for a total
consideration of MYR29,000,000.00 (Ringgit Malaysia Twenty Nine
Million) only (Sale and Purchase Agreement).

The Board of Directors of Furqan Business Organisation Berhad
(FBO) advised that AAP had on December 2, 2005 entered into a
Deed of Novation with the Purchaser and OSK Trustees Berhad as
trustee for Axis Real Estate Investment Trust (New Purchaser)
for the novation, transfer and assignment of all the Purchaser's
rights, titles, benefits and interest provided, under, in
respect or in relation to the Principal Sale Agreement to the
New Purchaser, and subject to such terms and conditions as
contained in the Deed of Novation.

CONTACT:

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


HONG LEONG: Dissolves Wholly Owned Unit
---------------------------------------
Hong Leong Credit Berhad advised Bursa Malaysia Securities
Berhad on the dissolution of a wholly owned subsidiary.

The company refers to its announcement dated June 17, 2005 in
connection with the Member's Voluntary Liquidation of Hong Leong
Equities (Hong Kong) Limited, a wholly owned subsidiary of Hong
Leong Credit Berhad (HLC) in Hong Kong.

HLC now writes to inform that Hong Leong Equities (Hong Kong)
Limited has been dissolved on December 3, 2005.

This announcement is dated 5 December 2005.

CONTACT:

Hong Leong Credit Berhad   
Level 5, Wisma Hong Leong, 18,
Jalan Perak, Kuala Lumpur
Wilayah Persekutuan 50450
Malaysia
Telephone: 03-21648228   
Fax: 03-21642503


JIN LIN: Issues Update to Proposals
-----------------------------------
Jin Lin Wood Industries Berhad issued to Bursa Malaysia
Securities Berhad details of the following proposals:   

- Proposed scheme of arrangement with shareholders;

- Proposed scheme of arrangement with creditors;

- Proposed acquisitions;

- Proposed exemption;

- Proposed disposal;

- Proposed offer;

- Proposed placement; and

- Proposed listing transfer

(Collectively known as proposed restructuring scheme)

The company refers to its announcement made on September 14,
2005. The definition in the same announcement shall apply herein
unless specified otherwise or the context otherwise requires.

On October 11, 2005, Avenue on behalf of Jin Lin, had submitted
an appeal to the SC regarding some of the conditions imposed for
the Proposals (Appeal) as follows:

(a) Before implementation of the Proposed Restructuring Scheme,
Jin Lin/ Gefung should resolve the issues on the non compliance
of SBG's marketing office located at No. 136C, Lot 2295, Kampung
Baru, Sungai Buloh, Selangor, i.e. certificate of fitness for
occupation has not been obtained from the relevant authorities
and category of land use for the land on which the office is
built upon is under agriculture instead of commercial purposes;

(b) The vendors of SBG and SGMG should provide a profit
guarantee to Gefung for FYs ending 2006 to 2008 on the basis of
90 percent of the acquiree companies aggregate PBT of MYR24.048
million, MYR31.204 million and MYR31.478 million respectively;
and

(c) The collateral for the profit guarantee for FY ending 2006
should be in the form of a bank guarantee provided by a
Malaysian incorporated bank that is acceptable to SC.

Avenue, on behalf of Jin Lin, advised that the SC had, via its
letter dated November 30, 2005 (which was received on December
1, 2005), informed of its decision regarding the Appeal as
follows:

(i) The variation to the condition that Jin Lin/ Gefung should
resolve the issues on the non compliance of SBG's marketing
office before implementation of the Proposed Restructuring
Scheme has been approved as proposed that Gefung shall resolve
the issues on the non compliance of SBG's marketing office prior
to the listing and quotation for the entire issued and paid-up
shares of Gefung on the Second Board of Bursa Securities; and

(ii) The appeal sought to vary the conditions in (b) and (c)
above, has not been approved.

This announcement is dated 5 December 2005.

CONTACT:

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


LEBAR DAUN: Pays Interest for ICULS
-----------------------------------
Lebar Daun Berhad issued to Bursa Malaysia Securities Berhad a
notice of second interest payment on MYR18,000,000 nominal value
of three year two percent Irredeemable Convertible Unsecured
Loan Stocks 2004/2007 (ICULS).

Notice is hereby given that the second interest payment on the
ICULS at the rate of two percent per annum for the period from
January 7, 2005 to January 6, 2006 will be paid on January 7,
2006 to ICULS holders whose names appear in the Record of
Depositors on December 27, 2005.

A depositor of ICULS shall qualify for entitlement only in
respect of:

(a) ICULS transferred into the depositor's Securities Account
before 4:00 pm on December 27, 2005 in respect of transfers; and

(b) ICULS bought on the Bursa Malaysia Securities Berhad on a
cum entitlement basis according to the Rules of the Bursa
Malaysia Securities Berhad.

By Order of the Board
Razali Bin Hassan
LS 05531
Company Secretary
Shah Alam
December 6, 2005


MAGNUM CORPORATION: Issues Notice of Shares Buy Back
----------------------------------------------------
Magnum Corporation Berhad furnished Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:  

Date of buy back: December 5, 2005

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

Total number of shares purchased (units): 422,000

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): 422,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 80,304,200

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
   

MBF HOLDINGS: Unit Placed in Voluntary Winding Up
-------------------------------------------------
MBf Holdings Berhad (MBfH) informed Bursa Malaysia that its
subsidiary, BB Motors Sdn Bhd (BB Motors) has been placed under
creditors' voluntary winding up on December 5, 2005. Mr Tam Kok
Meng of Messrs Tam & Associates Corporate Services Sdn Bhd has
been appointed the Liquidator of BB Motors.

Information on BB Motors

BB Motors was incorporated on July 16, 1986 and the principal
activity was the assembly of motor vehicles engine. The
authorized share capital of BB Motors is MYR184,749 comprising
184,749 ordinary shares of MYR1.00 each of which 184,749
ordinary shares have been issued and fully paid-up.

As at 30 September 2005, BB Motors had a shareholders' deficit
of MYR2,737,260. .

BB Motors ceased its operations since 2002 and has been dormant
thereafter.

Rationale for the Winding Up

The winding up of BB Motors is part of the rationalisation and
streamlining exercise of MBfH Group.

Financial Effect of the Winding Up

The winding up of BB Motors will not have any material effect on
MBfH Group.

Interests of Directors, Substantial Shareholders and Persons
connected to the Directors and Substantial Shareholders

None of the directors, substantial shareholders and persons
connected to the directors and substantial shareholders of MBf
has any interest, direct or indirect in the said exercise.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad
Ding Lien Bing
Company Secretary
December 5, 2005

CONTACT:

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


MEDIA PRIMA: Issues New Shares for Listing, Quotation
-----------------------------------------------------
Media Prima Berhad advised that its additional:

(i) 93,000 new ordinary shares of MYR1.00 each arising from the
conversion of 139,500 Irredeemable Convertible Unsecured Loan
Stocks 2003/2008 into 93,000 New Ordinary Shares; and

(ii) 308,000 new ordinary shares of MYR1.00 each arising from
the Exercise of 308,000 Warrants 2003/2008 into New Ordinary
Shares;

will be granted listing and quotation by Bursa Malaysia
Securities Berhad with effect from 9:00 a.m., Wednesday,
December 7, 2005.

CONTACT:

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


PILECON ENGINEERING: Issues Update to PN1 Status
------------------------------------------------
Transbay Ventures Sdn Bhd (TVSB), a subsidiary of Pilecon
Engineering Berhad (PEB) submitted to Bursa Malaysia Securities
Berhad a Monthly Announcement on the Status of Default in
Payment Pursuant to Practice Note 1/2001.

Further to the announcement made by PEB on November 8, 2005 with
regards to the status of default in payment pursuant to Practice
Note 1/2001 by its subsidiary, Transbay Ventures Sdn Bhd (TVSB),
PEB wishes to hereby announce that there have not been any
changes to the status of default since then.

CONTACT:

Pilecon Engineering Berhad   
2, Jalan U1/26, Seksyen U1,
HICOM Glenmarie Industrial Park,
Shah Alam Selangor 40150 Malaysia
Telephone: 03-78041888,03-21446164   
Fax: 03-78041888,03-21446164


PACIFIC & ORIENT: Buys Back New Shares
--------------------------------------
Pacific & Orient Berhad furnished Bursa Malaysia Securities
Berhad with details of its shares buy back.

Date of buy back: December 5, 2005

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

Total number of shares purchased (units): 5,000

Minimum price paid for each share purchased (MYR): 1.800

Maximum price paid for each share purchased (MYR): 1.800

Total consideration paid (MYR): 9,066.60

Number of shares purchased retained in treasury (units): 5,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 7,818,389

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

CONTACT:

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


SETEGAP BERHAD: Formulates Scheme to Regularize Condition
---------------------------------------------------------
The Board of Directors of Setegap Berhad advised Bursa Malaysia
Securities Berhad that since the date of the last announcement,
Bursa Malaysia Securities Berhad (Bursa Securities) had in a
letter dated November 10, 2005 notified the Company that it is
required to make a written representation to Bursa Securities
within fourteen (14) days as to why its securities should not be
removed from the Official List of Bursa Securities and, the
Company had on November 24, 2005 made such a written
representation to Bursa Securities.

Further to that, the Company as of todate is still striving its
best to formulate a scheme to regularize its financial
condition.

This announcement is dated 05 December 2005.

CONTACT:

Setegap Berhad
72B&C, Jalan SS22/25
Damansara Jaya
47400 Petaling Jaya
Malaysia
Phone: 03-77297009
Fax: 03-77271555
Web site: http://www.setegap.com.my


SOUTHERN BANK: Chairman Steps Down from Post
--------------------------------------------
The Board of Directors of Southern Bank accepts with regret the
unexpected resignation of Dato' Syed Mohd Yusof bin Tun Syed
Nasir who tendered his resignation to the Board of Directors as
Chairman and member of the Board on December 2, 2005.

During his tenure, the Bank has continued to prosper and has
seen its market capitalization increase from MYR2.89 billion to
MYR6.04 billion.

In recognition of his many contributions, the Board wishes to
thank him for his leadership, active direction and support.

CONTACT:

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


TECHVENTURE BERHAD: Unveils Date of Restraining Order Extension
---------------------------------------------------------------
Further to the announcement on December 2, 2005, Techventure Bhd
(Techven) announced to Bursa Malaysia Securities Berhad that the
ninety-day restraining order granted by the High Court is from
December 2, 2005 to March 1, 2006, both dates inclusive.

The restraining order was granted to Techven and six of its
subsidiaries viz. Insulflex Sdn Bhd (172832-V), Kotak Kajang
Industries Sdn Bhd (138102-D), Raya Ehsan Sdn Bhd (225528-V),
Teratai Perdana Sdn Bhd (212055-P), Incaplas (Malaysia) Sdn Bhd
(217820-V) and TVB Ventures Sdn Bhd (496699-V).


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

BACNOTAN CONSOLIDATED: Notes Changes in Shareholdings
-----------------------------------------------------
Bacnotan Consolidated Industries Inc. furnished the Philippine
Stock Exchange a copy of SEC Form 23-B (Statement of Beneficial
Ownership of Securities) of The Philippine American Life &
General Insurance Company, a principal shareholder, which
reported the changes in its shareholdings for the month of
November 2005.

A copy of the said documents shall be made available for
downloading free of charge at:
http://bankrupt.com/misc/tcrap_bacnotanconsolidated120905.pdf.

CONTACT:

Bacnotan Consolidated Industries Incorporated
No 39 Plaza Drive Rockwell Centre
4th Floor PHINMA Building
Makati City 1200
Philippines
Phone: +63 2 8700 100
Fax: +63 2 8700 456


LEPANTO CONSOLIDATED: To Receive Balance Payment Dec. 16
--------------------------------------------------------
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-emptive rights offering to all stockholders of record as of
September 21, 2005 at an offer price of Php0.20 per share.

In a letter dated Dec. 7, 2005, the Company advised that further
to the 4,251,775,436 fully paid shares, an additional 10,751,627
shares were fully paid broken down as follows:

       Class "A" shares     4,876,882
       Class "B" shares     5,874,745
       TOTAL               10,751,627

This brings the number of fully paid shares to a total of
4,262,527,063 common shares and the number of partially paid
shares to 2,144,888 common shares.

In view thereof, the additional fully paid 10,751,627 common
shares may be traded starting Friday, Dec. 9, 2005.

In accordance with the Rule on Rights Offering as provided in
the Revised Listing Rules of the Exchange, actual trading of the
remaining 2,144,888 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 payments on the balance of the said
remaining partially paid shares until Dec. 16, 2005.

The designated stock transfer agent is authorized to record and
register in its books the additional fully paid 10,751,627
shares. The transfer agent shall be authorized to record and
register the remaining 2,144,888 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


MANILA ELECTRIC: Customers Face Php107 Billing Hike
---------------------------------------------------
Around 71 percent of Manila Electric Company's (Meralco)
residential customers will pay Php107 more this month due to the
amended expanded-value added tax (EVAT), BusinessWorld reports.

The billing hike is estimated to affect about 2.8 million
Meralco customers.

Based on the figures provided by Meralco vice-president Ivanna
G. Dela Pena, the VAT's net effect on Meralco bills was actually
the same or even lower than Energy Regulatory Commission (ERC)
simulations.

ERC released last November 16 guidelines on the application of
EVAT on power. Its simulations showed that power rates will
increase by around 6 percent, depending on consumption levels,
instead of the 10 percent originally expected, due in part to
mitigating measures designed to soften the new tax's impact.

Those who consumed 50 kWh in November should see their bills
rise by only Php7.25, compared to ERC's estimate of Php11.48.
The bills of those who consumed 100 kWh will rise by Php37.33,
compared to ERC's estimate of Php41.13, while the bills of those
who consumed 200 kWh will rise by Php107.21 against ERC's
Php108.35.

CONTACT:

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


MANILA ELECTRIC: FPI Presses Payment of Overdue Refund
------------------------------------------------------
A group of local businessmen has urged Manila Electric Company
(Meralco) to refund the nearly Php23 billion in excess charges
it collected from commercial and industrial customers since
1994, The Philippine Star has learned.

The Federation of Philippine Industries (FPI) is complaining
that it has been more than two years since the Supreme Court
ordered Meralco to refund customers but its members have not
received their refund.

FPI, which counts among its members some of the country's
biggest industrial firms and industry associations, stressed
that the refund is Meralco's legal obligation.

President Gloria Macapagal Arroyo had earlier assured Meralco
customers that there would be full compliance and implementation
of the High Court's final decision on the Php28.1-billion
overcharging by the power firm.

Unfortunately, Meralco has so far refunded just over Php6
billion to small and medium users only in three phases.

The fourth phase is the most costly for Meralco, as it would
require Meralco to shell out around Php18.6-billion to
commercial and industrial customers.

Earlier attempts to settle the refund scheme failed when
businessmen disagreed with Meralco's proposal to spread the
refund due its commercial and industrial customers over a period
of eight to 10 years.


NATIONAL FOOD: Says Its Losses are Gains for Farmers
----------------------------------------------------
The cash-strapped National Food Authority (NFA) said rice
farmers actually gain on the agency's day-to-day losses, Asia
Pulse reports.

NFA Administrator Gregorio Tan Jr. explained that while the
agency had been effectively performing the mandates of food
security and supply and price stabilization over the past 33
years, it will continue to incur losses as long as the
government will not provide the agency sufficient funds for its
operational costs to subsidize the price of palay at the
farmgate and rice at the consumers level.

While the NFA's subsidy allocation had continuously been
whittled down over the past 10 years, it was even required to
pay a 50 percent tariff on its rice imports since 2002, causing
the agency to further bleed financially.

Mr. Tan disclosed that about 86 percent of NFA's losses in the
past three years went to tariff duties and interest cost of
borrowings from financial institution to pay for the tariff.

"But while corporations are created mainly to make profit, he
said, the nature of NFA's operations is no different from other
social-oriented agencies like the social service and welfare
department," Mr. Tan added.

CONTACT:

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


* PhilamLife Says Pre-need Firms to Recover Next Year
-----------------------------------------------------
A top official of insurance firm Philippine American Life and
General Insurance Company (PhilamLife) believes the ailing pre-
need industry may start to recover in 2006, according to
BusinessWorld.

PhilamLife President and Chief Executive Officer Jose L. Cuisia
said the industry will bounce back next year if the
rehabilitation of troubled firms, such as College Assurance
Plans Philippines Inc. (CAP) and Pacific Plans Inc., are
properly implemented.

A Makati court approved last week the rehabilitation of Pacific
Plans while CAP is still awaiting word regarding its petition.
Rehabilitation will allow the troubled pre-need firms to suspend
payments to planholders and creditors to help them get back on
their feet.

The problems of the two pre-need giants have discouraged
potential planholders, prompting them to park their cash in
other investment instruments. Mr. Cuisia said potential
investors needed to see that planholders of the two firms will
be able to get their money back.

Due to dwindling consumer confidence, pre-need firms sold only
245,690 plans from January to September, 35.7 percent lower than
the 383,681 plans sold in 2004.


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

BAROMEDICAL SERVICES: Receiving Claims Until Jan. 3
---------------------------------------------------
Notice is hereby given that the creditors of Baromedical
Services (Asia) Pte Limited, which is being wound up
voluntarily, are required on or before Jan. 3, 2006 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 to personally or by their solicitors and prove their said
debts or claims at such time and place as shall be specified in
such notice.

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

Dated this 2nd day of December, 2005

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


CHARTERED SEMICONDUCTOR: Increases Quarterly Profit Guidance
------------------------------------------------------------
On Dec. 9, 2005, Chartered Semiconductor Manufacturing Limited
updated its fourthquarter 2005 guidance in its scheduled mid-
quarter update, which was originally provided on October 21,
2005.

Company Chief Financial Officer Geroge Thomas said, "Revenues at
the Chartered level and revenues including our share of Silicon
Manufacturing Partners (SMP or Fab 5) are now expected to be
above the high end of our prior guidance primarily due to
favorable product mix. Compared to the mid-point of previous
guidance, revenues at the Chartered level are now expected to be
up approximately SGD8 million. Revenues including our share of
SMP are now expected to be higher by approximately SGD10 million
compared to the mid-point of our previous guidance, and
therefore reach the SGD400 million level in the fourth quarter.
Consistent with higher revenues, our fourth-quarter net profit
is now expected to be approximately SGD6 million higher than the
mid-point of the range previously guided. Our guidance for
utilization remains unchanged." said

The Company plans to release its fourth quarter 2005 results on
January 27, 2006, Singapore time, before the Singapore market
opens.

Chartered's original guidance for fourth quarter 2005 was
published in itss third quarter 2005 earnings release dated
October 21, 2005, which can be found on the Company web site,  
under Investor Relations, Earnings Releases section.

CONTACT:

Chartered Semiconductor Manufacturing Limited
60 Woodlands Industrial Park D Street 2
Singapore 738406
Phone: 65 63622838
Fax:   65 63622938
Web site: http://www.charteredsemi.com


CHINA AVIATION(S): Incurs Losses in Q2, Q3 FY/05
------------------------------------------------
China Aviation Oil (Singapore) Corporation Limited (CAO)
published its financial statements for the first, second and
third quarter of 2005.

For the first quarter, CAO garnered a net profit of SGD11.24
million, while in the second quarter, it posted a net loss of
SGD18.53 million, which later decreased to SGD13,000 in the
third quarter this year.

To view the Company's quarterly financial statements, click on:

http://bankrupt.com/misc/tcrap_chinaaviation1120905.pdf

http://bankrupt.com/misc/tcrap_chinaaviation2120905.pdf

http://bankrupt.com/misc/tcrap_chinaaviation3120905.pdf

CONTACT:

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


LIAN SHENG: To Declare Dividend
-------------------------------
Lian Sheng Timber Pte Limited, located at 336 Smith Street, #06-
308 New Bridge Centre, Singapore 050336, posted a notice of
intended dividend at the Government Gazette, Electronic Edition
with the following details:

Name of Company: Lian Sheng Timber Pte Limited
Last day for receiving proofs: Jan. 3, 2006
Name  & address of Liquidator: Goh Ngiap Suan
C/o Goh Ngiap Suan & Co.
336 Smith Street
#06-308 New Bridge Centre
Singapore 050336

Dated this 2nd day of December 2005


MUSIC JUNCTION: Court Releases Winding Up Order
-----------------------------------------------
In the matter of Music Junction (S) Pte Limited, the Singapore
High Court issued a winding up petition against the Company on
Nov. 25, 2005, with the following details:

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

Ascentsia Law Corporation
Solicitors for the Petitioner


PRISO PTE: Schedules Final Meeting Jan. 3
-----------------------------------------
Notice is hereby given that the final meeting of the members of
Priso Pte Limited will be held on Jan. 3, 2006, 11:00 a.m. at
138 Cecil Street, #15-00 Cecil Court, Singapore 069538, to
present the Liquidator's account on the manner of the winding up
of the Company and the disposal of its property, and to
determine by resolution the manner in which the books, accounts
and documents of the Company and of the Liquidators shall be
disposed of.

Dated this 2nd December 2005

Steven Tan Chee Chuan
Douglas Tan Kay Yeow
Joint Liquidators
C/o 138 Cecil Street, #15-00 Cecil Court
Singapore 069538

Note:
Pursuant to Section 181 of the Companies Act, Cap. 50, a member
entitled to attend and vote at the Meeting is entitled to
appoint another person or persons (whether a member or not) as
his proxy to attend and vote in his stead.


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

ADVANCE PAINT: To Hold Warrant Exercise Dec. 30
-----------------------------------------------
Advance Paint & Chemical (Thailand) Public Co. Ltd. advised the
Stock Exchange of Thailand (SET) that the Extraordinary General
Meeting resolved to issue the Warrants, (APC-W1) and  (APC-W2)
to the existing shareholders whose names appeared on the
Company's Register Book on December 27, 2002 with the exercise
period every three months within the last business day of March,
June, September and December during 9:00 a.m. to 4:00 p.m.

The 10th exercise process of APC-W1, APC-W2 will be as follows:

(1) The exercise date will be on the December 30, 2005 during
9:00 a.m. to 4:00 p.m. hours at the Advance Paint & Chemical
(Thailand) Public Co. Ltd.

(2) The warrant holders who wish to exercise the warrants can
submit the exercise notice to the company on the business day of
December 23, 2005 to December 29, 2005.

(3) Exercise Ratio is 1 warrant: 1 share at THB1 each.

(4) The warrant holders intend to exercise submit the following
    documents to the Company:

- Completion form of Exercise Notice.

- Warrant Certificate(s) or Certificate Receipt(s) in the form
  prescribed by the SET.

- Cheque or Cashier Cheque payable to Advance Paint & Chemical
  (Thailand) Public Co., Ltd. Within Bangkok Metropolitan.

- Copy of Identification Card or Passport with certified true    
  copy for individual Warrant holders.
      
- Copy of Affidavit or the Certificate of Incorporation   
  certified by notary public (less than 6 months) for Corporate  
  Warrant holders.

Yours sincerely,
Mrs. Narumol Punnakitikashem
Executive Director

CONTACT:

Advance Paint & Chemical (Thailand) Pcl   
344 Moo 2, Bang Pa-In Industrial Estate,
Bang Pa-In Ayutthya    
Telephone: 0-3522-1140, 0-2541-5374-8   
Fax: 0-3526-1871   


PICNIC CORPORATION: Disposes of Unit's 70% Shares
-------------------------------------------------
The Board of Directors' meeting on Dec. 8, 2005 resolved to sell
the 70 percent shares of Picnic Marine Co. Ltd. (Picnic Marine),
a wholly owned subsidiary of PICNI to Teledata Informatics
Limited and other parties within its group (Buyer).  

The details of the transaction are as follow:

Buyer: Teledata Informatics Limited and group

Major shareholders:

(1) Indian promoters: 7.88 percent
(2) Central/State Govt. Institutions /: 0.51 percent

Non-Government Institutions

(3) Foreign Company: 8.97 percent

(4) Private corporate bodies: 16.86 percent

(5) Indian public: 63.63 percent

(6) NRIs/ OCBs: 1.18 percent
                          
(7) Clearing members: 0.96 percent

(8) Trusts: 0.01 percent

Total: 100.00 percent

Seller: Picnic Corporation PCL
      
No. of shares sold: 3.5 million shares of Picnic Marine
or 70 percent of total outstanding shares

percentage holding after selling: 30 percent of total
outstanding shares

Value: THB203.40 million
      
Objectives: To build strategic partner, strengthen the
            Company's LPG transportation business and
            increase the Company's liquidity

Relationship: The Company and the buyers has no relationship
              on director, management,major shareholders and
              controlling person.

Price determination: Future business benefits and Picnic Marine
                     audited 2004 and unaudited September 2005
                     net book value

Transaction Size:

Assets Value: 70 percent of Picnic Marine's net tangible assets
value as of September 30, 2005 equals to 4.5 percent of the
Company and subsidiaries' net tangible assets value as of
September 30, 2005

Profit from Operation: Cannot be calculated because Picnic  
Marine has net loss

Value of Consideration Paid: The consideration received for the  
shares is 0.88 percent of the Company and subsidiaries' total
assets value as of June 30, 2005.

Financial highlights:

(Unit: Million Baht)
                        Unaudited          Audited
                       30-Sep.-05         31-Dec.-04      

Revenue from
transportation             116.60            22.25

Cost of revenue           (126.41)          (24.67)

Selling and
administration expenses   (28.50)           (7.51)

Other income               37.51            11.83

Interest expense          (17.66)           (0.00)

Income tax                  0.00            (0.60)

Net profit (loss)         (18.46)            1.30

Total assets              771.07           354.08

Total liabilities         537.81           102.78

Registered capital        500.00           500.00

Paid-up capital           250.00           250.00

No. of shares
(million shares)            2.50             2.50

Par value (Baht)          100.00           100.00

Retained earning (loss)  (16.74)            1.30

Shareholders' equity     233.26           251.30


Please be informed accordingly.

Yours sincerely
Mr. Nirun Fuganjananon
Assistant Managing Director

CONTACT:

Picnic Corporation Public Company Limited
805 Srinakarin Road, Suan Luang Bangkok
Telephone: 0-2721-3600-59
Fax: 0-2721-3571
Web site: http://www.picniccorp.com



                            *********


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 ***