TCRAP_Public/051215.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

          Thursday, December 15, 2005, Vol. 8, No. 248

                            Headlines

A U S T R A L I A

AIR NEW ZEALAND: Will Not Appeal Court Ruling on Advertisements
AISNWORTH GAME: Sets Convertible Notes Interest Payment Date
BERAS PTY: Wind Up Process Initiated
BRAMHALL FOUNDRY: Liquidator to Explain Wind Up to Members
DUNCAN BRICKPAVING: Members Agree to Wind Up Business

EDMAN CONSTRUCTIONS: James A. Shaw Named Official Liquidator
EPCA GROUP: Declares First, Final Dividend
EVANS & TATE: Shine at Local Wine Show
FLOOR RESOURCES: Decides to Close Operations
FREMANTLE LIVESTOCK: Receiving Claims Until Dec. 27

GLENRAE PTY: Members to Review Liquidator's Report
KOON HOLDINGS: Warns of Significant Profit Dive
LIGHTRAN PTY: Schedules Final Meeting Dec. 22
MAXICARE PTY: Prepares to Cease Operations
MCINNES PTY: Court Appoints Official Liquidator

MORESTOE PTY: Intends to Pay Dividend to Creditors
NICHOLSON MANUFACTURING: Winds Up Business
PAN PHARMACEUTICALS: Can't Pay AU$3-Mln Fine, Says Liquidator
PRECISION ELECTRONICS: Enters Voluntary Liquidation
QANTAS AIRWAYS: Chooses Boeing in AU$24-Bln Plane Deal

QANTAS AIRWAYS: Budget Offshoot to Get First of New Aircraft
RAPTOR ENTERPRISES: Creditors OK Liquidator's Appointment
R.H. CREIGHTON: To Declare Dividend Today
SHIMVILLE PTY: Court Orders Winding Up
SYDENHAM TRANSPORT: Liquidator to Detail Wind Up Manner

TELSTRA CORPORATION: MPs Dodge ASIC's Questions
TELSTRA CORPORATION: Government Lets ACCC Decide on its Own
TELSTRA CORPORATION: ASIC Warns on Disclosure Procedures
TOP TREES: Members Pass Winding Up Resolution
VAYSMAN PTY: Placed Under Voluntary Liquidation


C H I N A  &  H O N G  K O N G

BESTWAY INTERNATIONAL: Halts Trading Pending Announcement
CHINA SOUTHERN: VP Li Kun Resigns
HONGKONG MASTER: Enters Winding Up Process
JOVELL INCORPORATED: Enters Winding Up Petition
KESSEL ELECTRONICS: Creditors Meeting Set Dec. 20

REFCO INCORPORATED: Withdraws Joint Venture Plans in China
SMART TRADING: Court Issues Winding Up Order
SPARKLE TREE: Issues Debt Claim Notice
YUEN HING: Court to Hear Winding Up Petition Jan. 11
* China May Shut Some High-risk City Banks


I N D I A

ALCOBEX METALS: CDR Cell OKs Debt Revamp Plan
FLEXO FILM: Board Decides to Convert Preference Shares
INDUSTRIAL INVESTMENT: Posts Outcome of AGM
VAS ANIMATIONS: Unveils Outcome of Board Meeting


I N D O N E S I A

DIRGANTARA INDONESIA: Aims to Sell Six Planes to Thailand
DIRGANTARA INDONESIA: Needs Three Years to Stabilize Operations
PERTAMINA: Launches New System to Put Up Fuel Stations


J A P A N

HEISEI DENDEN: Dream Technologies to Support Rehab
HITACHI LIMITED: Develops Low-Power Phase-Change Memory Cells
JAPAN AIRLINES: To Drop Suit for Alleged Patent Breach
SOGO KEIEI: Becomes Key Player in Data Scam
MITSUBISHI MOTORS: Withdraws from FIA World Championship

SANYO ELECTRIC: Unveils Stock Transfer of Sub-unit
SANYO ELECTRIC: Enters MOU in TV Business


K O R E A

KOREAN AIR: Strike Ends as Government Intervenes
LG CARD: Sells ABS Worth $300 Million


M A L A Y S I A

ANTAH HOLDING: Updates Default Payment Status
CHASE PERDANA: Fully Acquires Teron's Share Capital
FEDERAL FURNITURE: Unveils Obligations Under PN17 Condition
I-BERHAD: Holds Shares Buy Back
IBRACO BERHAD: Ordinary Resolution Approved at EGM

MAGNUM CORPORATION: Buys Back Ordinary Shares
MEDIA PRIMA: Issues 5-Year Exchangeable Bonds
MYCOM BERHAD: Gets Shareholders Nod on Resolutions of AGM
OLYMPIA INDUSTRIES: AGM Resolutions Approved
RASHID HUSSAIN: Converts ICULS to Ordinary Shares

SATERAS RESOURCES: Details Wind Up Petition on Unit
SETEGAP BERHAD: Court Extends Interim Restraining Order
SOUTHERN BANK: Proposed Asia General Acquisition Dismissed
SOUTHERN BANK: Bourse Lifts Suspension of Trading
SUNRISE BERHAD: SC Approves Application for Exemption

TRU-TECH HOLDINGS: SC Scraps Proposed Restructuring Scheme


P H I L I P P I N E S

BENPRES HOLDINGS: Still Keen on Sale of Non-core Ops
CENTRAL AZUCARERA: Strike Ends After a Year
HACIENDA LUISITA: Inclusion in CARP Coverage Due This Month
LAFAYETTE MINING: Shares Offer in Demand
MANILA MINING: Unveils Board Meeting Results

PACIFIC PLANS: Granting of License Props Up SEC's Bid


S I N G A P O R E

ACCORD CUSTOMER: Buys Back Unit's Shares in Restructuring
DEUCHEM SINGAPORE: Schedules Final Meeting Next Month
HL SENSECURITY: Shareholder Files Winding Up Petition
LIANG HUAT: To Hold EGM on Dec. 29
UNITED FIBER: Denies Signing Paper Mill Takeover Deal

XEN PURE: Asks Creditors to Receive Debt Claims


T H A I L A N D

DATAMAT: SET Further Suspends Trading of Securities
SIAM AGRO-INDUSTRY: To Close Shareholders' Book Dec. 27
THAI PETROCHEMICAL: Unveils Share Offer Results
WYNCOAST INDUSTRIAL: To Hold Warrant Exercise

     -  -  -  -  -  -  -  -

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

AIR NEW ZEALAND: Will Not Appeal Court Ruling on Advertisements
---------------------------------------------------------------
Air New Zealand Limited is firm on its decision not to appeal
against a court ruling that it misled consumers in its
advertising, Reuters reports.

The airline is facing potential huge fines after it was found
guilty last month on 14 of the 20 sample charges.

The New Zealand Commerce Commission, which administers consumer
protection laws, laid out a total of 342 charges against the
carrier.

Air NZ stressed it will not appeal the court's decision, saying
it already changes its advertising to comply with that decision.

The carrier expects its sentence to handed down next year. The
maximum has doubled to NZ$200,000 per charge during the period
covered by the charges.

CONTACT:

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


AISNWORTH GAME: Sets Convertible Notes Interest Payment Date
------------------------------------------------------------
Ainsworth Game Technology Limited (AGT) announced that it will
pay the second interest payment on the Convertible Notes (AGIG)
on Jan. 3, 2006.

The amount payable will be 8 percent per annum based on the face
value of AU$1.30, which equates to 5.24 cents per Convertible
Note for the 184 day period June 30 to Dec. 30, 2005.

The record date will be Friday, Dec. 23, 2005.

CONTACT:

Ainsworth Game Technology Limited
10 Hoker Street
Newington, New South Wales 2127
Australia
Phone: +61 9 7398 000
Fax: +61 9 7379 483
E-mail: sales@a-g-t.com.au
Web site: http://www.ainsowrth.com.au


BERAS PTY: Wind Up Process Initiated
------------------------------------
Notice is hereby given that at a general meeting of the members
of Beras Pty Limited held on Nov. 22, 2005, it was resolved that
the Company be wound up voluntarily, and that Mr. Michael John
Hesse of 257 Palmer Street, East Sydney NSW 2010 be appointed
Liquidator for such purpose.

Dated this 22nd day of November 2005

Michael J. Hesse
Liquidator
257 Palmer Street
East Sydney NSW 2010


BRAMHALL FOUNDRY: Liquidator to Explain Wind Up to Members
----------------------------------------------------------
Notice is hereby given that a final meeting of the members of
Bramhall Foundry Pty Limited will be held on Dec. 22, 2005,
10:00 a.m., to present the Liquidator's purpose showing the
manner of the Company's winding up and the disposal of its
property, and to hear any explanations that may be given by the
Liquidator.

Dated this 3rd day of November 2005

Brian W. Powe
Liquidator
Powe Partners Pty Limited
1/1095 Old Princes Highway
Engadine NSW 2233


DUNCAN BRICKPAVING: Members Agree to Wind Up Business
-----------------------------------------------------
Notice is hereby given that at a meeting of the members of
Duncan Brickpaving Pty Limited held on Nov. 23, 2005, it was
resolved that the Company be wound up voluntarily, and that Mr.
Oren Zohar and Mr. Brian McMaster of KordaMentha, Level 11, 37
St. Georges Terrace, Perth be appointed to act as Liquidators
for the winding up.

Dated this 24th day of November 2005

Oren Zohar
Liquidator
KordaMentha
Phone: 08 9221 6999
Fax:   08 9221 6977


EDMAN CONSTRUCTIONS: James A. Shaw Named Official Liquidator
------------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Edman Constructions Pty Limited held on Nov.
22, 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 was appointed as Liquidator for such purpose.

Dated this 24th day of November 2005

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


EPCA GROUP: Declares First, Final Dividend
------------------------------------------
EPCA Group Pty Limited will declare a first and final dividend
today, Dec. 15, 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

Andrew McLellan
Liquidator
C/o PPB Chartered Accountants
Level 10, 90 Collins Street
Melbourne Vic 3000


EVANS & TATE: Shine at Local Wine Show
--------------------------------------
White is definitely Evans and Tate's color with a spectacular
result at the Commonwealth Bank 2005 Margaret River Wine Show
for its white wines.

Evans and Tate was awarded Best Wine of the Show with its Evans
and Tate Margaret River Chardonnay 2004, which also won Best
Chardonnay.

Evans and Tate also took Best Museum Award with the Evans & Tate
Redbrook Chardonnay 2001 and Best Semillon with the Evans and
Tate Margaret River Semillon 2005.

Not surprisingly, Evans and Tate also took Most Successful
Exhibitor.

Best Chardonnay was a new trophy award in 2005, as was Best
Cabernet Sauvignon, which was awarded to Woodlands Cabernet
Sauvignon 2002. The addition of the two new trophies was to
recognize these two varieties' influence in putting Margaret
River on the map for its premium wines.

Briarose Estate Sauvignon Blanc 2005 was awarded Best Sauvignon
Blanc at the prestigious Gala Awards Dinner at Watershed Premium
Wines on Thursday, December 1.

Cape Mentelle picked up Best Sauvignon Blanc or Semillon Blend
with the Cape Mentelle Sauvignon Blanc Semillon 2005.

Best Cabernet Sauvignon Blend went to Brookland Valley Estate
Cabernet Sauvignon Merlot 2002.

The judging panel found the 2004 Stella Bella Shiraz was the
Best Shiraz after two days of tasting 601 entries across 27
classes.

Hamelin Bay picked up the Optimus Alias (Best Other) Award for
its Chardonnay/ Semillon blend, Hamelin Bay 2005 Rampant White.

The Commonwealth Bank 2005 Margaret River Wine Show provided an
opportunity for local grape growers and winemakers to receive
appraisal and feedback from some of the nation's best judges,
while promoting the wines distinct to the Margaret River wine
region.

The Show unites the wine community of Margaret River with a
common goal, that being the pursuit of wine excellence.

The Margaret River Wine Industry Association is a not-for-profit
organization that promotes the Margaret River wine region and
represents its members in all wine industry matters.

This is a press release.

CONTACT:

Evans & Tate
54 Salvado Road,
Wembley WA 6014
PO Box 451
Wembley WA 6913
Telephone: (08) 6462 1799
Facsimile: (08) 6462 1798
E-mail: et@evansandtate.com.au
Web site: http://www.evansandtate.com.au/


FLOOR RESOURCES: Decides to Close Operations
--------------------------------------------
Notice is hereby given that at a meeting of creditors of Floor
Resources Pty Limited held on Nov. 24, 2005, it was resolved
that the Company be wound up, and Mr. Stan Traianedes of Hall
Chadwick Chartered Accountants & Business Advisers, Level
12, 459 Collins Street, Melbourne, was appointed as the Company
Liquidator.

Dated this 24th day of November 2005

Stan Traianedes
Liquidator
Hall Chadwick Chartered Accountants & Business Advisers
Level 12, 459 Collins Street
Melbourne Vic 3000


FREMANTLE LIVESTOCK: Receiving Claims Until Dec. 27
---------------------------------------------------
Notice is given that the creditors of Fremantle Livestock
Services Pty Limited, whose debts or claims have not already
been admitted, are required on or before Dec. 27, 2005 to prove
their debts or claims and to establish any title they may have
to priority by delivering or posting a formal proof of debt or
claim with the Liquidator. If they do not, they will be excluded
from:

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

(b) objecting to the distribution.

Dated this 29th day of November 2005

Andrew Birch
Liquidator
PPB
Level 1, 5 Mill Street
Perth WA 6000


GLENRAE PTY: Members to Review Liquidator's Report
--------------------------------------------------
Notice is hereby given that the final meeting of the members of
Glenrae Pty Limited will be held on Dec. 22, 2005, 10:00 a.m. at
the office of Brian V. Cotton, 6 Gerald Avenue, Roseville NSW
2069, to present the Liquidator's final account and report on
the Company's winding up, and to give any explanation thereof.

Dated this 14th day of November 2005

Brian V. Cotton
Liquidator
6 Gerald Avenue, Roseville NSW 2069


KOON HOLDINGS: Warns of Significant Profit Dive
-----------------------------------------------
The Board of Directors of Koon Holdings Limited (the Company)
regrets to inform the market that due to an unfavorable
development, the Company is likely to announce a full year net
profit after tax significantly below those announced for the 6
months ended June 2005.

In the Company's Aug. 20, 2005 announcement, the Board noted
that several of the Company's projects were being unfavorably
affected by changes in the Land Transport Authority
requirements. These changes arose after foundation work, which
had been completed by a party other than the Company, had caused
the collapse of a major highway in Singapore.

At the time of the Aug. 20, 2005 announcement, it was not known
that to fully comply with the changes, part of both projects
(being Queensway and Pandan River Bridge) would have to be
redesigned. Redesigns result in significant cost increases. The
exact amount of additional materials required is currently being
ascertained and will be known within the next one or two months.

Given the condition of the contract, it is uncertain whether
these costs can be fully or partially recovered by way of
claims.

Discussion with the customers of these projects to review
additional claims will be held once the additional material
requirements have been ascertained. Whilst part of these costs
will only be incurred in 2006, in accordance with the Company's
accounting policies, the Company will be making full provision
for such cost in 2005 once the quantum of such costs are known.
Given the uncertainty of claims, no offsetting benefit will be
taken in 2005.

The setbacks in these projects will not result in any
significant deterioration in the Company's ability to win
business or in its financial position. Further details of the
provision and the Company's performance will be disclosed when
it announces its unaudited financial results.

CONTACT:

Koon Holdings Limited
Level 2 , 174 Collins Street
HOBART, TASMANIA
AUSTRALIA, 7000
Telephone: 0011 65 6261 5788
Fax: 0011 65 6266 0117
Web site: http://www.koon.com.sg


LIGHTRAN PTY: Schedules Final Meeting Dec. 22
---------------------------------------------
Notice is hereby given that the final meeting of the members and
creditors of Lightran Pty Limited will be held on Dec. 22, 2005,
10:00 a.m. at the offices of Jones Condon Chartered Accountants,
Level 1, 34 Charles Street, Parramatta NSW to receive the
Liquidator's account showing how the winding up of the Company
was conducted and its property disposed of, and to give any
explanation thereof.

Dated this 14th day of November 2005

Schon G. Condon RFD
Liquidator
C/o Jones Condon Chartered Accountants
Phone: 02 9893 9499


MAXICARE PTY: Prepares to Cease Operations
------------------------------------------
Notice is hereby given that at a meeting of the creditors of
Maxicare Pty Limited held on Nov. 21, 2005, it was resolved that
the Company be wound up, and Mr. Peter Paul Krejci of GHK Green
Krejci, Level 9, 179 Elizabeth Street, Sydney NSW 2000 was
appointed as Liquidator for such wind up.

Dated this 28th day of November 2005

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


MCINNES PTY: Court Appoints Official Liquidator
-----------------------------------------------
On Nov. 18, 2005, the Federal Court of Australia appointed Mr.
David Young of Pitcher Partners, Level 3, 60 Castlereagh Street,
Sydney NSW to be the Official Liquidator in the winding up of
McInnes Pty Limited.

David G. Young
Liquidator
Pitcher Partners
Level 3, 60 Castlereagh Street
Sydney NSW


MORESTOE PTY: Intends to Pay Dividend to Creditors
--------------------------------------------------
Morestoe Pty Limited will declare a first and final dividend
today, Dec. 15, 2005.

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

Dated this 27th day of October 2005

A. R. M. Taylor
Liquidator
Meertens Chartered Accountants
Level 1, 49 Woods Street
Darwin NT 0800
Phone: 08 8923 9239
Fax:   08 8942 3250


NICHOLSON MANUFACTURING: Winds Up Business
------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Nicholson Manufacturing Pty Limited held on
Nov. 17, 2005, it was resolved that the Company be wound up
voluntarily, and that for such purpose, Mr. Morgan Chubb of
Clout & Associates, Level 1, 144-148 West High Street, Coffs
Harbour NSW 2450 be appointed as Liquidator.

Dated this 25th day of November 2005

Morgan J. Chubb
Liquidator
Clout & Associates Chartered Accountants
Level 1, 144-148 West High Street
Coffs Harbour NSW 2450
Phone: 02 6652 3288
Fax:   02 6651 9393


PAN PHARMACEUTICALS: Can't Pay AU$3-Mln Fine, Says Liquidator
-------------------------------------------------------------
The liquidator of former drugmaker Pan Pharmaceuticals insisted
the collapsed drug firm cannot pay its huge fines, according to
The Age.

Pan Pharmaceuticals has been fined AU$3 million after admitting
to harming consumers and faking product test results.

But liquidator Michael Sloan of McGrathNicol said that with more
than AU$200 million in claims against the drug firm, the fines
will never be paid.

The company would have to become solvent and that is not going
to happen."

Pan could have been fined more than AU$20 million after the
company's liquidators pleaded guilty last month to 24 charges
stemming from a 2003 Therapeutic Goods Administration (TGA)
investigation.

The inquiry, launched after complaints about its travel sickness
drug Travacalm, led to Australia's biggest medicines recall and
the company's collapse.

NSW District Court Judge Colin Charteris previously heard that
some consumers suffered psychotic episodes, hallucinations and
blackouts after taking Travacalm.

Pan's liquidators pleaded guilty to negligently causing grievous
harm to five Travalcam users.

Imposing an AU$500,000 fine on Monday, Judge Charteris also took
into account the harm caused to another 18 Travacalm users.

He also fined Pan AU$2.5 million after its liquidators pleaded
guilty to 19 charges of supplying counterfeit therapeutic goods.

Ten counts related to false records and package labeling for
Travacalm while the other nine relate to manipulated test
records for other Pan products.

Pan's business and assets were sold to Sphere Pharmaceuticals in
late 2003.


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

Dated this 21st 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


QANTAS AIRWAYS: Chooses Boeing in AU$24-Bln Plane Deal
------------------------------------------------------
Qantas Airways has unveiled its fleet renewal program in a deal
worth AU$24 billion, The Australian has learned.

Under the agreement, the national flag carrier will purchase 115
Boeing 787 planes. It will take delivery of the first 65
aircraft staring 2008 at a list price of AU$13 billion.

The decision follows Qantas' request to Airbus and Boeing in
August for twin-engine wide-body aircraft.

Qantas Chief executive Officer Geoff Dixon said the tender had
been very competitive, with excellent options proposed by both
Boeing and Airbus.

Mr. Dixon said it would continue to talk to both manufacturers
about long-range aircraft options.

Qantas current order is for a mix of B787-8 and later model
B787-9 aircraft, with the 787 set to reduce costs through its
new technology.

CONTACT:

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


QANTAS AIRWAYS: Budget Offshoot to Get First of New Aircraft
------------------------------------------------------------
Qantas Airways has decided to give its first aircraft delivery
to low-cost unit, Jetstar, Asia Pulse reveals.

Jetstar, which is poised to boost its international routes in
2007, will initially receive 10 aircraft when deliveries begin
in 2008.

Jetstar will get more aircraft in subsequent deliveries.

Qantas take delivery of the first 65 Boeing 787 aircraft in less
than three year's time, at a cost of AU$13 billion (US$9.79
billion). It has purchase rights for up to 50 additional
aircraft taking the total order to 115 planes.

Meanwhile, several executives will be transferred to Jetstar's
Asian operation, Jetstar Asia.

Jetstar chief executive Alan Joyce will move to the board of
Jetstar Asia as director, and Qantas chief financial officer
Peter Gregg will step in as Jetstar Asia chairman in the place
of Qantas chief executive Geoff Dixon, who will step down.


RAPTOR ENTERPRISES: Creditors OK Liquidator's Appointment
---------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Raptor Enterprises Pty Limited held on Nov. 18, 2005, it was
resolved that the Company be wound up voluntarily, and that
Danny Vrkic of Jirsch Sutherland & Co. - Wollongong Chartered
Accountants be appointed as Liquidator.

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

Dated this 6th day of December 2005

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


R.H. CREIGHTON: To Declare Dividend Today
-----------------------------------------
R.H. Creighton Holdings Pty Limited will declare a first and
final dividend today, Dec. 15, 2005.

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

Dated this 22nd day of November 2005

J. L. Harwood
Liquidator
c/- Harwoods Mudge Coleman
First Floor, 19-21 Watt Street
Gosford NSW 2250.
Phone: 02 4324 3288
Fax:   02 4324 3436


SHIMVILLE PTY: Court Orders Winding Up
--------------------------------------
On Nov. 18, 2005, the Federal Court of Australia, New South
Wales District Registry ordered the winding up of Shimville Pty
Limited, and appointed Mr. Steven Nicols to be the Company
Liquidator.

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


SYDENHAM TRANSPORT: Liquidator to Detail Wind Up Manner
-------------------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of Sydenham Transport Pty Limited will be held on Dec.
22, 2005, 3:00 p.m. at the office of Jirsch Sutherland Chartered
Accountants, Level 2, 84 Pitt Street, Sydney NSW 2000, to
present the Liquidator's account showing the winding up of the
Company and the disposal of its property, and to hear any
explanations that may be given by Liquidator.

Dated this 22nd day of November 2005

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


TELSTRA CORPORATION: MPs Dodge ASIC's Questions
-----------------------------------------------
The corporate watchdog is not planning to question any members
of the federal parliament on matters regarding Telstra
Corporation, The Age says.

Australian Securities and Investments Commission (ASIC) chairman
Jeffrey Lucy contradicted media reports speculating that members
of the Australian Parliament would be questioned as part of an
investigation into Telstra.

ASIC has been investigating a possible breach of the continuous
disclosure rules by Telstra and will announce the results of the
probe shortly.

A Telstra spokesman said the telco had been briefed by the ASIC
about the outcome of its investigation. He said Telstra's
executives would not face jail as a result of an investigation
into a possible breach of Australian Stock Exchange listing
rules.

A media report recently said Telstra chief executive Sol
Trujillo and his most senior executives could face jail over
secret briefings made to federal ministers and journalists ahead
of the stock market.

CONTACT:

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


TELSTRA CORPORATION: Government Lets ACCC Decide on its Own
-----------------------------------------------------------
The Federal Government is unlikely to take part in a competition
watchdog's decision on the prices Telstra Corporation charged
rivals to use its copper-line network, The Australian reports.

Communications Minister Helen Coonan said it was appropriate
that the Government leave the ruling on Telstra's unbundled
local loop (ULL) pricing to the Australian Competition and
Consumer Commission (ACCC).

The ULL pricing structure, which determines what Telstra's
rivals pay to use its copper network, sets prices in four bands
- CBD, metro, regional, and rural and remote.

Sen. Coonan said the Government's role was not to make the
decisions based on protecting levels of profit.

However, Sen. Coonan said the Government would make a decision
"shortly" on any possible intervention on the ULL decision.

She also said it was inevitable that Telstra would invest in its
network, regardless of any ruling by the regulator.

Telstra has threatened to hold off from the investment until it
is given the appropriate regulatory backing.


TELSTRA CORPORATION: ASIC Warns on Disclosure Procedures
--------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) on
Wednesday announced that it has concluded its investigation of
Telstra and does not propose to take any enforcement action.

The investigation of Telstra was in relation to suspected
contraventions of the continuous disclosure provisions of the
Corporations Act 2001 by Telstra during the period Aug. 11 to
Sept. 6, 2005.

While ASIC's investigation will not result in court action, ASIC
is concerned that some of Telstra's disclosure procedures create
potential risks to its ability to meet its continuous disclosure
obligations in the future.

"We found a set of practices which cannot be regarded as
acceptable for a corporation of the size and significance of
Telstra to the Australian market, but which fell short of being
appropriate for court proceedings," ASIC Chairman Jeffrey Lucy
said.

ASIC was concerned about three issues it uncovered during its
investigation.

The first was a senior Telstra executive giving part of a
confidential briefing paper to representatives of the media in
the week commencing 15 August 2005. The briefing was intended
only for certain members of Parliament and their staff. The
selective release of that document to others created speculation
about its contents until Telstra released the full document on 7
September 2005, following discussions with ASIC. A clarifying
statement that some aspects of the document should not to be
relied on by the market accompanied Telstra's release of the
full document.

"The release of confidential material by a senior executive of
Telstra, without providing the document to the whole market, is
an unacceptable practice, particularly where only part of the
document is released," ASIC Chairman Jeffrey Lucy said.

"It can create a risk of confusion and did, in this case, lead
to uninformed and unhelpful speculation about Telstra's
prospects," he said.

Also of concern was a briefing to analysts following the release
of Telstra's annual results on 11 August 2005. It is clear that
some information given during that briefing was not available in
Telstra's ASX announcements, either before or after the
briefing. While the briefing was webcast, that is not a
substitute for the clear requirement in the ASX Listing Rules to
provide any price-sensitive information to the ASX in the first
instance.

The third issue was the earnings downgrade announcement on 5
September 2005 and the apparent linking of the $850 million
estimate of costs of regulation to the downgrade. ASIC's
investigation found that there was no such direct link and that
the wording of the announcement had the potential to confuse
ordinary readers.

"I have written to the Board of Telstra summarizing ASIC's
findings and outlining our concerns to serve as a warning to the
board and senior management to lift their game on continuous
disclosure," Mr. Lucy said.


TOP TREES: Members Pass Winding Up Resolution
---------------------------------------------
Notice is hereby given that on Nov. 21, 2005, the members of Top
Trees Pty Limited passed a Special Resolution to wind up the
Company voluntarily, and Mr. M. J. Fitzpatrick of KPMG was
appointed as the Official Liquidator for the winding up.

Dated this 21st day of November 2005

M. J. Fitzpatrick
Liquidator
C/o KPMG
Level 30, Central Plaza One
345 Queen Street, Brisbane Qld 4000


VAYSMAN PTY: Placed Under Voluntary Liquidation
-----------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members and creditors of Vaysman Pty Limited held on Nov.
22, 2005, it was resolved that the Company be wound up
voluntarily, and that Mr. Joseph Loebenstein, Chartered
Accountant and Registered Liquidator of Loebenstein Insolvency
Services Pty Limited, 203 Balaclava Road, Caulfield North,
Victoria, be appointed as Liquidator for such purpose.

Dated this 22nd day of November 2005

Joseph Loebenstein
Liquidator
Loebenstein Insolvency Services Pty Limited
203 Balaclava Road, Caulfield North Vic 3161


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

BESTWAY INTERNATIONAL: Halts Trading Pending Announcement
---------------------------------------------------------
At the request of Bestway International Holdings Limited
(00718), trading in its shares will be suspended with effect
from 9:30 a.m. on December 14, 2005 pending the release of an
announcement in relation to the proposed very substantial
acquisition and placing of new shares.

The company incurred a net loss of HK$27.13 million in the year
ended March 31, 2005, versus a net loss of HK$6.96 million a
year earlier, according to Chong Hing Securities Ltd.

CONTACT:

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


CHINA SOUTHERN: VP Li Kun Resigns
---------------------------------
China Southern Airlines Company Limited announced that Mr. Li
Kun has resigned as Vice President of the Company by reason of
redeployment.

Mr. Li Kun's resignation has been considered and approved by the
board of the Company in compliance with the requirements under
the Company Law of the People's Republic of China and the
articles of association of the Company.

The Board would like to take this opportunity to acknowledge Mr.
Li Kun's contribution to the Company.

By Order of the Board of Su Liang
Company Secretary
Guangzhou, the People's Republic of China
13 December 2005

CONTACT:

China Southern Airlines
Mr. Jeff Ruffolo, 714-532-2054
RuffoloPR@aol.com
Web site: http://www.cs-air.com


HONGKONG MASTER: Enters Winding Up Process
------------------------------------------
Hongkong Master International Limited, whose office address is
located at Rm 1102 11/F 59 Connaught Road Central Hong Kong,
issued a winding up order notice in the High Court of the Hong
Kong Special Administrative Region Court of First Instance on
November 30, 2005.

Date of Presentation of Petition: September 8, 2005

Dated this 9th day of December 2005

ET O'Connell
Official Receiver


JOVELL INCORPORATED: Enters Winding Up Petition
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Jovell Incorporated Ltd whose registered office is situated at
Sea Meadow House, Blackburn Highway, P. O. Box 116, Road Town,
Tortola, British Virgin Islands by the High Court of Hong Kong
Special Administrative Region was on October 26, 2005 presented
to the said Court by Deacons, being a firm whose address is
situated at 5th Floor, Alexandra House, 18 Chater Road, 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.

MESSRS. DEACONS
Solicitors for the Petitioner
5th Floor, Alexandra House
18 Chater Road
Central, Hong Kong

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


KESSEL ELECTRONICS: Creditors Meeting Set Dec. 20
-------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), that the annual meetings of
the members of Kessel Electronics (H.K.) Limited (In Creditors'
Voluntary Liquidation) will be held at Room 103, Duke of Windsor
Social Service Building, 15 Hennessy Road, Wanchai, Hong Kong on
December 20, 2005 at 11:00 a.m. and will be followed by a
meeting of the creditors of the company to be held at the same
place at 10:00 a.m. respectively.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and on a poll, vote instead
of him. A proxy need not be a member or creditor of the company.

Forms of proxies for both meetings must be lodged at the offices
of Messrs. Kennic L. H. Lui & Co., 5th Floor, Ho Lee Commercial
Building, 38-44 D'Aguilar Street, Central, Hong Kong not less
than 4:00 p.m. on 19 December 2005.

Dated this 9th day of December 2005

KENNIC LAI HANG LUI
Joint and Several Liquidator


REFCO INCORPORATED: Withdraws Joint Venture Plans in China
----------------------------------------------------------
U.S. futures broker Refco Incorporated has canceled plans to
enter a partnership with Chinese brokerage Jingyi Futures, AFX
News reports.

Refco, purchased last month by Man Group Plc, will maintain its
regional headquarters in Singapore but will stop China-related
trading activity.

"The Man Group is reluctant to get involved in the futures
business in China, partly because of the Chinese government's
restrictions on foreign activity in the sector," Dow Jones
quotes an unnamed source as saying.

Refco filed for bankruptcy protection on October 18 and agreed
to sell its core futures brokerage business for US$768 million.

CONTACT:

REFCO Hong Kong
Jardine House, 1, Connaught Place
Suite 2210-12, 22/F
Central, Hong Kong
Phone: 852 2537 3770
Fax: 852 2525 3783


SMART TRADING: Court Issues Winding Up Order
--------------------------------------------
Smart Trading (Hung Kee) Limited, whose office address is
located at Block D 20/F Tak Wing Industrial Building Tsun Wen
Road Tuen Mun New Territories, issued a winding up order notice
in the High Court of the Hong Kong Special Administrative Region
Court of First Instance on November 30, 2005.

Date of Presentation of Petition: September 28, 2005

Dated this 9th day of December 2005

ET O'Connell
Official Receiver


SPARKLE TREE: Issues Debt Claim Notice
--------------------------------------
Notice is hereby given that the creditors of Sparkle Tree
Limited, which is being voluntarily wound up, are required on or
before January 9, 2006, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors.

If so required by notice in writing from the said Liquidators,
are personally or by their solicitors to come in and prove their
said debts or claims at such time and place as shall be
specified in such notice, or in default thereof, they will be
excluded from the benefit of any distribution before such debts
are proved.

Dated this 9th day of December, 2005

Roderick John Sutton
Joint and Several Liquidator
Of Sparkle Street Limited
c/o Ferrier Hodgson Limited
14/F., Hong Kong Club Building
Central, Hong Kong


YUEN HING: Court to Hear Winding Up Petition Jan. 11
----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Yuen Hing Shing Steel Company Limited by the High Court of Hong
Kong Special Administrative Region was on November 18, 2005
presented to the said Court by The Hong Kong and Shanghai
Banking Corporation Limited whose registered office is situated
at 1 Queen's Road Central, Hong Kong.

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

JOHNSON STOKES & MASTER
Solicitors for the Petitioner
18th Floor, Prince's Building
10 Chater Road
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 10, 2006.


* China May Shut Some High-risk City Banks
------------------------------------------
China plans to shut some of its high-risk city commercial banks,
according to Reuters, citing the China Banking Regulatory
Commission.

"Those high-risk and hard-to-turnaround city commercial banks
should be ready to exit the market," the Securities Times quoted
Mr. Tang Shuangning, Vice Chairman of the China Banking
Regulatory Commission, as saying.

Mr. Tang did not name any lenders, provide specifics or say how
many banks should be closed.

Beijing is now turning its attention to city lenders after
overhauling major state banks such as China Construction Bank,
which went public in Hong Kong this year, and Bank of China,
which is expected to float shares in 2006.


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

ALCOBEX METALS: CDR Cell OKs Debt Revamp Plan
---------------------------------------------
Alcobex Metals Ltd has informed BSE that CDR Cell, Mumbai, has
approved debt-restructuring proposal under CDR System (Re-
workout).

CONTACT:

Alcobex Metals Ltd
4223 / 1, Ansari Road, Daryaganj
New Delhi 110002
Delhi
Phone: 23273496 23274641 23273494 23273496
Fax: 23286565


FLEXO FILM: Board Decides to Convert Preference Shares
------------------------------------------------------
Flexo Film Wraps (India) Ltd has informed Bombay Stock Exchange
(BSE) that the Board of Directors of the Company at its meeting
held on December 13, 2005, has considered and decided to convert
the remaining 40.0% Optionally Convertible Redeemable Preference
Shares of INR1,00,000/- each fully paid up into 8,00,000 Equity
Shares of INR5/- each fully paid up.

CONTACT:

Flexo Film Wraps (India) Ltd
B, 22, MIDC, Waluj
Aurangabad 431136
Maharashtra
Phone: 2554209 2554915
Fax: 2554119


INDUSTRIAL INVESTMENT: Posts Outcome of AGM
-------------------------------------------
Industrial Investment Bank of India Ltd has informed Bombay
Stock Exchange (BSE) that the members at the 8th Annual General
Meeting (AGM) of the Company held on September 29, 2005, inter
alia, have accorded to the following:

1. Adoption of the Balance Sheet as at March 31, 2005 and the
Profit & Loss Account for the period April 01, 2004 to March 31,
2005 with the Schedules attached thereto along with the Notes
forming part of the Accounts, the Report of the Auditors,
comments (NIL) of Comptroller & Auditor General of India on the
Audited Annual Accounts vis-…-vis managements reply (NIL) and
the Directors Report thereon.

2. In view of losses incurred by the Company during 2004-05 and
erosion of net worth by the Company by the accumulated losses
and owning to the restrictions imposed under the provisions of
the Companies Act, 1956, no dividend is payable for 2004-05 to
the preference shareholders of the Company.

3. In view of losses incurred by the Company during the
financial year ended March 31, 2005 and the prevailing poor
financial health especially erosion of net worth by the
accumulated losses, no dividend for the financial year ended
March 31, 2005 on equity share capital of the Company.

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


VAS ANIMATIONS: Unveils Outcome of Board Meeting
------------------------------------------------
Vas Animations & Entertainment Ltd has informed Bombay Stock
Exchange (BSE) that the Board of Directors of the Company at its
meeting held on November 23, 2005, has decided to purchase lock
stock barrel a running partnership firm with its undertaking
with its running business, located at Daman on the basis of
Government Approved Valuer business valuation Report at a
consideration of INR50 million by allotting 50.00 lacs of Equity
Shares of INR10/- each per share to the vendors being partners
of the partnership firm known as Metal Shapers.

Further the Board has decided to convene an Extra Ordinary
General Meeting (EGM) on December 30, 2005.

CONTACT:

Vas Animations & Entertainment Ltd
401, Court Chambers, 4th Floor, S.V Road, Borivli W
Mumbai  400092
Maharashtra
Phone: 28067594 28067595 28063592 28647506
Fax: 28063548


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

DIRGANTARA INDONESIA: Aims to Sell Six Planes to Thailand
---------------------------------------------------------
State-controlled aircraft maker PT Dirgantara Indonesia (DI) is
hoping to sell six of its aircraft to Thailand, but the country
needs a trade scheme for the purchase, Xinhua News reports.

According to online newspaper Tempo Interactive News, Thailand
was interested in buying six CN 245 aircraft from PT DI, in
exchange for commodities such as rice, sugar and plywood.

PT DI Business Manager Dita Ardoni Jafri said that at present,
Thailand has agreed to buy one CN 235 airplane for IDR179.75
billion, although a final decision has yet to be made at an
upcoming cabinet meeting in Thailand.

The Company may accept the counter-trade scheme in order to sell
off its aircraft, but it was stressed that the Thai commodities
may be re-exported to other countries, and not sold in
Indonesia.

CONTACT:

PT Dirgantara Indonesia
Jl. Pajajaran no. 154 Bandung 40174,
Indonesia
Phone: 62-22-6034562, 62-22-6010754, 62-22-6010759
Fax:   62-22-6019538, 62-22-6075671, 62-22-6031696
Email: infosales@indonesian-aerospace.com
Web site: http://www.indonesian-aerospace.com


DIRGANTARA INDONESIA: Needs Three Years to Stabilize Operations
---------------------------------------------------------------
State-owned aircraft manufacturer PT Dirgantara Indonesia (DI)
will need three years to recover from the effects of the 1997
Asian financial crisis, reports Asia Pulse.

PT DI President Nuril Fuad said that the Company, which
encountered financial difficulty after the Asian financial
crisis, needs time to dispose of/sell its existing aircraft,
such as Bell 1412 helicopters and CN-236 propeller airplanes.

Mr. Fuad added that the Company hopes to earn IDR1.94 trillion
in revenues from the sale of its existing aircraft. PT DI is
also building three military aircraft for the Indonesian air
force.

Once it completes its project for the air force, the Company
will start to build commercial and military airplanes with a 19
passenger seating capacity.


PERTAMINA: Launches New System to Put Up Fuel Stations
------------------------------------------------------
In order to compete with foreign oil firms in the fuel
distribution industry, state oil and gas firm PT Pertamina has
developoed a new system for investors who want to put up
Pertamina fuel stations, the Jakarta Post reports.

According to Pertamina Fuel Division Chief Achmad Faisal,
investors can log on to the Company website, and if they meet
all the requirements, their applications will be reviewed and
contracts signed within 15 days. He added that in the Company's
new system, all pump stations will be connected online, and
available fuel stock would be monitored in real time;
distributors can request for additional stock online, doing away
with paperwork.

The Company will also manage fuel transportation in order to
minimize the problem of fuel theft, as fuel tankers often make
many "stops" from the depot to fuel stations.

The new system will enable Pertamina to classify fuel stations
into five categories, based on daily offtake. Station owners
would pay royalties from IDR100 million to IDR500 million for a
five-year contract.

Pertamina would also be able to dictate profit margins for the
fuel stations, and stations that offer better service would
enjoy higher margins. This is an incentive for fuel station
owners to improve their service, adds Mr. Faisal.

With the new system, the Company hopes to survive fierce
competition in the fuel distribution market. The Indonesian
government had earlier delayed the liberation of subsidized fuel
distribution until January 2006, as no other firms are prepared
to take over Pertamina's position as distributor of subsidized
fuel.

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


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

HEISEI DENDEN: Dream Technologies to Support Rehab
--------------------------------------------------
Dream Technologies Corporation has decided to assist in the
turnaround of failed telecommunications venture Heisei Denden
Co., Jiji Press reports.

Dream Technologies, a software developer, did not disclose
details about measures to rehabilitate Heisei Denden.

Heisei Denden, which filed for court protection from creditors
under the civil rehabilitation law in October, was found to have
acquired JPY49 billion in fresh funds from individual and other
investors until just before its bankruptcy.

Dream Technologies has raised about JPY15 billion from an
investment fund led by High-profile investor Yoshiaki Murakami
as resources for the Heisei Denden rehabilitation.

CONTACT:

Heisei Denden Co. Ltd.
10th Floor, Tokyo Tatemono Hiroo Bldg.
5-8-14 Hiroo, Shibuya-ku
Tokyo, Japan, 150-0012


HITACHI LIMITED: Develops Low-Power Phase-Change Memory Cells
-------------------------------------------------------------
Hitachi, Ltd. and Renesas Technology Corporation announced the
successful prototyping of low-power phase-change memory cells.
The nonvolatile semiconductor storage elements can be programmed
at a power supply voltage of 1.5V and a low current of 100ćA -
about 50 percent less power consumption per cell than previous
technology reported by Hitachi and Renesas.

Moreover, the new phase-change cells compare favorably with
existing nonvolatile memory in terms of high-speed writing and
reading capabilities, high programming endurance, small size,
and high-level integration. Thus, they provide a promising
solution for on-chip program and data storage in next-generation
microcontrollers for embedded applications such as information
devices, home electric appliances, and in-vehicle equipment and
control systems.

The prototype cells were fabricated in a 130-nanometer CMOS
process. Their structure uses MOS transistors and a phase-change
film that enters an amorphous state* (high resistance) or
crystalline state (low resistance) in response to heat. They are
programmed to one state or the other via a tungsten bottom-
electrode contact (BEC) with a diameter of 180nm. In a read
operation, the stored digital (1 or 0) information is determined
from a difference in the amount of current flowing in the film.

To obtain the breakthrough power-consumption results, the
Hitachi and Renesas researchers developed an original phase-
change film with low-current, low-voltage programming
capability. They produced the film by controlled oxygen doping
of a germanium-antimony-tellurium (GeSbTe) material. The oxygen
doping enables the resistance of the phase-change film to be
constrained to an optimal level and suppresses the flow of
excessively large currents during programming. Also, the cell
implementation allows the gate widths of the MOS transistors
forming the cells to be decreased and the drive output MOS
transistors to be reduced, making it possible to shrink the size
of the memory cells and drive circuitry.

Details of the breakthrough low-power MOS phase-change memory
cell technology were revealed in a technical paper presented at
the International Electron Devices Meeting held in Washington
D.C. from December 5, 2005.

About Hitachi, Ltd.

Hitachi, Ltd., (NYSE: HIT), headquartered in Tokyo, Japan, is a
leading global electronics company with approximately 347,000
employees worldwide. Fiscal 2004 (ended March 31, 2005)
consolidated sales totaled JPY9,027.0 billion ($84.4 billion).
The company offers a wide range of systems, products and
services in market sectors including information systems,
electronic devices, power and industrial systems, consumer
products, materials and financial services. For more information
on Hitachi, please visit the company's website at
http://www.hitachi.com.

About Renesas Technology Corp.

Renesas Technology Corp. designs and manufactures highly
integrated semiconductor system solutions for automotive, mobile
and PC/AV markets. Established on April 1, 2003 as a joint
venture between Hitachi, Ltd. (TSE:6501, NYSE:HIT) and
Mitsubishi Electric Corporation (TSE:6503) and headquartered in
Tokyo, Japan, Renesas Technology is one of the largest
semiconductor companies in the world and the world-leading
microcontroller supplier globally. Besides microcontrollers,
Renesas Technology offers system-on-chip devices, Smart Card
ICs, mixed-signal products, flash memories, SRAMs and more.
www.renesas.com.

CONTACT:

Hitachi Limited
4-6, Kanda-Surugadai, Chiyoda-ku
Tokyo 101-8010, Japan
Phone: +81-3-3258-1111
Fax: +81-3-3258-2375


JAPAN AIRLINES: To Drop Suit for Alleged Patent Breach
------------------------------------------------------
Japan Airlines Corporation said it will withdraw a JPY15.6
billion ($130 million) trademark suit against All Nippon Airways
Co., after the government's patent office ruled that no
infringement occurred, Bloomberg News reports.

The patent of Japan Airlines' online reservation system had not
been infringed, according to an October 5 ruling by the patent
office, which narrowed the scope of the Tokyo-based airline's
intellectual rights, according to the carrier's statement.

Japan Airlines registered a patent on the system in 2001. All
Nippon started offering a similar service in 2000. Japan
Airlines sued the ANA in July 2004 in the Tokyo District Court,
seeking damages and demanding for All Nippon to stop using
reservation system, which it claims.

"We are surprised by Japan Airlines' unusual decision to drop
the case," All Nippon said in a statement.

"We practically won this suit without waiting for a judgment by
the court."

CONTACT:

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


SOGO KEIEI: Becomes Key Player in Data Scam
-------------------------------------------
Consulting firm Sogo Keiei Kenkyujo (Soken) played a key role in
the construction of a number of hotels found to have been built
with designs falsified by architect Hidetsugu Aneha, The Yomiuri
Shimbun reports, citing statements made by a lawmaker at a House
of Representatives committee hearing.

The lower house Construction and Transport Committee questioned
three unsworn witnesses last week over falsified earthquake-
resistance data that were used in the construction of a number
of condominiums and hotels. But Mr. Aneha, whose firm provided
consulting services to a number of hotels built with the flawed
designs, did not attend the hearing despite the panel's requests
for him to do so.

Mr. Tomoyuki Watanabe, President of architectural firm Atlas
Sekkei, who spoke as an unsworn witness, told panel members that
the business card Mr. Aneha gave him when they first met in
November 2003 had the name of Heisei Sekkei printed on it.


MITSUBISHI MOTORS: Withdraws from FIA World Championship
--------------------------------------------------------
Mitsubishi Motors Corporation (MMC) has decided to suspend
participation in the FIA World Rally Championship series in
2006.

With the Mitsubishi Motors Revitalization Plan as a basis, MMC
has made a solid start toward revitalizing its business
operations. However, to strengthen and build upon this base, MMC
realizes that it must focus management resources on the
continued promotion of the revitalization plan.

Mitsubishi Motors hopes to return to the WRC Championship series
from 2008, after the completion of the revitalization plan,
which covers fiscal 2005 to 2007.

This decision however does not extend to MMC's efforts in the
Dakar Rally (commonly known as Paris-Dakar). Mitsubishi Motors
will continue to compete in this event.

- Starting with an overall championship in the Safari Rally in
1974, the Mitsubishi WRC Team has accomplished a spectacular 34
wins in the WRC series. The team won the drivers' title 4
consecutive years from 1996 to 1999, and won the prestigious
manufacturers' title in 1998.

CONTACT:

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

This is a company press release.


SANYO ELECTRIC: Unveils Stock Transfer of Sub-unit
--------------------------------------------------
Sanyo Electric Co., Ltd. and The Goldman Sachs Group Inc. have
agreed that Sanyo transfers a part of its interest in Sanyo
Electric Credit Co., Ltd. a subsidiary of Sanyo to GS Group.

As a result of this stock transfer, the account of SANYO
Electric Credit would be excluded from Sanyo's consolidated
balance sheet.

Sanyo has formulated a mid-term business plan based on the
"Sanyo Evolution Project"-a three year structural reform plan,
and is working on rebuilding its business portfolio through
`selection & focus' of its businesses; and reforming its cost
structure through operational improvements and organizational
changes as well as improving its financial position. SANYO
Electric Credit, the core subsidiary for Sanyo's financial
business has a wide range of businesses such as the lease and
installment selling of office equipment, industrial equipment,
information and communications equipment, home appliances etc.
as well as lending and other financial services.

As a part of SANYO's mid-term business plan, SANYO has decided
to transfer a part of its interest in SANYO Electric Credit to
the GS Group as outlined below:

Number of shares to be transferred 11,575,600 shares (33% of
outstanding shares not including treasury stock)

Transfer price 2,000 yen per share

Planned transfer date December 22, 2005

With the share transfer to GS Group, SANYO's stake in SANYO
Electric Credit would be 19.1%. And SANYO plans for SANYO
Electric Credit to be an unconsolidated company.

The stock transfer of SANYO Electric Credit will not cause any
revision of SANYO's financial results forecast.

Information contained in this news release, including product
prices, specifications and content of services is current on the
date of the news release, but may be subject to change without
prior notice.

CONTACT:

SANYO Electric Co., Ltd.,
Media Relations Unit
Phone: +81 (0)3-3837-6206
Fax: +81 (0)3-3837-6381
E-mail: tokyo-pr@svnet.sannet.ne.jp

This is a company press release.


SANYO ELECTRIC: Enters MOU in TV Business
-----------------------------------------
Sanyo Electric Co., Ltd. (Sanyo) and a global leading IT
products manufacturer based in Asia have signed a Memorandum of
Understanding (MOU), and are mutually considering the
establishment of strategic alliance in the TV business area
between the two companies.

Sanyo is currently manufacturing and selling 6.5 million TV sets
annually through the world with bases in Japan, US, Europe,
China and Indonesia. Our potential partner is a leader in IT
products R&D and manufacturing with a strong supply chain and
global operations. Both parties are convinced that, through this
alliance, they will have a competitive worldwide manufacturing
and sales network, a fluid supply chain, and solid R&D and
product development capabilities.

Through the new business model based on this alliance, Sanyo
will increase the cost competitiveness of its Flat Panel TVs.
Sanyo plans to replace gradually the current worldwide
manufacturing and sale of approximately six million CRT TVs to
Flat Panel TVs through this alliance and thus ensure and
strengthen its market presence and profitability.

Information contained in this news release, including product
prices, specifications and content of services is current on the
date of the news release, but may be subject to change without
prior notice.

CONTACT:

SANYO Electric Co., Ltd.,
Media Relations Unit
Phone: +81-3-3837-6206
Fax +81-3-3837-6381
E-mail: tokyo-pr@svnet.sannet.ne.jp

This is a company press release.


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

KOREAN AIR: Strike Ends as Government Intervenes
------------------------------------------------
The strike at Korean Air halted Tuesday after the government
intervened and ordered the unionized pilots to return to work,
according to Reuters.

The government stepped in to end the strike citing damage to the
economy, and mandated mediation between Korean Air's management
and its pilots.

Korean air carries about 48 percent of the country's export and
import cargo shipments and 41 percent of international passenger
flights.  South Korea is heavily dependent on air cargo, sending
most of its semiconductor and mobile phone exports by plane.

The Labor Ministry estimated losses of about KRW189.4 billion,
resulting from lost income for transporting goods, while the
carrier is estimated to have lost KRW67 billion.

All flights have resumed normal operations and are going
according to schedule.  Around 60 percent of the carriers
scheduled flights were cancelled over the period of the strike.

The pilots staged the strike to demand a 3.5 percent increase in
base salary. The initial demand was 6.5 percent.  The management
however, only offered 2.5 percent increase in base pay.

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


LG CARD: Sells ABS Worth $300 Million
-------------------------------------
LG Card raised $300 million after it sold asset-backed
securities (ABS) at London Interbank Offered Rate (LIBOR),
Yonhap News reveals.  Korea Development Bank (KDB) and JP Morgan
Chase & Co. co-arranged the sale.

The creditors of LG Card, a former credit card unit of LG Group
has been seeking to sale their 51 percent stake in the Company.
The creditors rescued the Company with nearly KRW6 trillion in
bailout packages.

The sale is set for March next year following the selection of
preferred bidder by year-end.

CONTACT:

LG Card Company Limited
Fax: (02) 3420-7002
E-mail: webmaster@card.lg.co.kr
Web site: http://www.lgcard.com


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

ANTAH HOLDING: Updates Default Payment Status
---------------------------------------------
Further to the announcement on November 11, 2005, Antah Holding
Berhad issued to Bursa Malaysia Securities Berhad an update on
the details of the various credit facilities in default to the
financial institutions as at November 30, 2005, details of which
are as per attached.

To view details of the various credit facilities, go to
http://bankrupt.com/misc/AntahHoldingLoanDefaulted30112005.xls

This announcement is dated 8 December 2005.

CONTACT:

Antah Holding Berhad
9577 Jalan SS16/1 Subang Jaya
47500 Petaling Jaya Selangor
Telephone: 03-5632 8668
Fax: 03-5635 1234


CHASE PERDANA: Fully Acquires Teron's Share Capital
---------------------------------------------------
The Board of Directors of Chase Perdana Berhad (CPB) advised
Bursa Malaysia Securities Berhad that, it has, on December 8,
2005, acquired the entire issued and paid-up share capital of
25,000 ordinary shares of MYR1.00 each in Teron Sdn Bhd (Company
No. 168769 H) (TSB) from Nadi Pedoman Sdn. Bhd. (Company No.
340472 A) (NPSB) at a nominal consideration of MYR1.00.

TSB is a wholly owned subsidiary of NPSB, which in turn is an
80-percent-owned CPB subsidiary.

Both TSB and NPSB are currently inactive.

The above transaction is part of a rationalization of inactive
subsidiaries within the Group.

This announcement is made on 8 December 2005.

CONTACT:

Chase Perdana Berhad
Off Jalan Semantan Damansara Heights
50490 Kuala Lumpur, 50490
Malaysia
Telephone: +60 3 2718 3700 / +60 3 2094 0503


FEDERAL FURNITURE: Unveils Obligations Under PN17 Condition
-----------------------------------------------------------
Federal Furniture Holdings (M) Berhad issued to Bursa Malaysia
Securities Berhad a monthly announcement pursuant to Practice
Note 17/2005.

(A) Introduction

On November 30, 2005, Federal Furniture Holdings (M) Berhad had
released its consolidated interim financial report for the Third
quarter ended September 30, 2005, which indicated that the
Company had a deficit in its shareholder's fund on a
consolidated basis.

As such the Company fulfills one of the criteria of an Affected
Listed Issuer pursuant to paragraph 8.14C(2) of the Listing
Requirements which require the Company to announce that its is
an Affected Listed Issuer and to comply with the provisions of
Practice Note No. 17/2005.

(B) Obligations of an affected listed issued pursuant to
PN17/205

In compliance with Paragraph 3.1 of PN 17/2005 the Company makes
this First Announcement to inform its obligations under the said
Practice Note which are as follows:

(1) To submit a Regularization Plan to the relevant authorities
for approval, or where the relevant authorities' approvals are
not required, obtain all other approvals necessary for the
implementation of the Regularization Plan within eight months
from the date of this First Announcement (Submission Timeframe)

(2) To implement the Regularization Plan within the timeframe
stipulated by the relevant authorities or where no timeframe has
been stipulated or allowed by the relevant authorities, within
the timeframe stipulated by Bursa Malaysia (the Implementation
Timeframe)

(3) To announce the status of its plan to regularize its
financial condition on a monthly basis and the number of months
to the end of the relevant timeframes (Submission Timeframe and
Implementation Timeframe) until further notice from Bursa
Malaysia

(4) To announce its compliance or non-compliance with a
particular obligation imposed pursuant to PN17/2005 on an
immediate basis.

(C) Consequence of non-compliance with the obligations

In the event that the Company fails to comply with the
obligations to regularize, all its listed securities shall be
suspended from trading on the 5th market day after the
Submission Timeframe or Implementation Timeframe, as the case
maybe, and de-listing procedures shall commence against the
Company.

(D) Status of the company's endeavours to formulate a plan to
regularize its financial condition

The Company is evaluating various options in its endeavour to
formulate a plan to regularize its financial condition
especially in the light of the Company's Proposed Debt
Restructuring Scheme that was announced on June 24, 2004 and
approved by the Securities Commission on March 15, 2005.

CONTACT:

Federal Furniture Holdings (M) Berhad
Suite 1501B Menara Choy Fook On
1B Jalan Yong Shook Lin, Section 7
46050 Petaling Jaya
Telephone: 03-7955 9937
Fax: 03-7956 2812
Web site: http://www.federal-furniture.com


I-BERHAD: Holds Shares Buy Back
-------------------------------
I-Berhad issued to Bursa Malaysia Securities Berhad a notice of
shares buy back with the following details:

Date of buy back: December 8, 2005

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

Total number of shares purchased (units): 46,100

Minimum price paid for each share purchased (MYR): 1.180

Maximum price paid for each share purchased (MYR): 1.180

Total consideration paid (MYR): 54,801.15

Number of shares purchased retained in treasury (units): 46,100

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

Cumulative net outstanding treasury shares as at to-date
(units): 3,879,200

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

This announcement is dated 8 December 2005.

CONTACT:

I-Berhad
3, Jalan Astaka U8/84
Section U8, Bukit Jelutong
40150 Shah Alam
Selangor, Malaysia
Phone: 03-7845 4511
Fax: 03-7845 4514
Web site: http://www.i-digital.com


IBRACO BERHAD: Ordinary Resolution Approved at EGM
--------------------------------------------------
Ibraco Berhad (Ibraco) advised Bursa Malaysia Securities Berhad
that the ordinary resolution was duly passed as per the Notice
of the Extraordinary General Meeting of the Company dated 23
November, 2005 held at the Lobby of IBRACO HOUSE, No. 898, Jalan
Wan Alwi, Tabuan Jaya, 93350 Kuching, Sarawak on December 8,
2005 at 11:00 a.m.

Dated this 8th day of December, 2005


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

Date of buy back from: November 28, 2005

Date of buy back to: December 2, 2005

Total number of shares purchased (units): 2,644,300

Minimum price paid for each share purchased (MYR): 1.870

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

Total amount paid for shares purchased (MYR): 5,025,278.90

The name of the stock exchange through which the shares were
purchased: Bursa Malaysia Securities Berhad

Number of shares purchased retained in treasury (units):
2,644,300

Total number of shares retained in treasury (units): 79,882,200

Number of shares purchased which were cancelled (units): 0

Total issued capital as diminished:

Date lodged with registrar of companies: December 8, 2005

Lodged by: Ms Gan Cheong Ann

CONTACT:

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


MEDIA PRIMA: Issues 5-Year Exchangeable Bonds
---------------------------------------------
Media Prima Berhad (MPB) furnished Bursa Malaysia Securities
Berhad details of the issue of MYR85,000,000 nominal value five
(5)-year Exchangeable Bonds (EB).

Further to the announcements dated July 4, 2005, October 7, 2005
and November 22, 2005 in relation to the EB Issue, Commerce
International Merchant Bankers Berhad, on behalf of the Board of
Directors of MPB, advised that MPB has on December 8, 2005
issued the EB.

This announcement is dated 8 December 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


MYCOM BERHAD: Gets Shareholders Nod on Resolutions of AGM
---------------------------------------------------------
Mycom Berhad (Mycom) informed Bursa Malaysia Securities Berhad
that, at the Thirty-Eighth Annual General Meeting (AGM) of the
Company held on December 8, 2005 the shareholders of Mycom have
approved all the ordinary and special business set out in the
notice of the said AGM.

This announcement is dated 08 December 2005.

CONTACT:

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


OLYMPIA INDUSTRIES: AGM Resolutions Approved
--------------------------------------------
Olympia Industries Berhad unveiled to Bursa Malaysia Securities
Berhad that all resolutions pertaining to the ordinary and
special businesses as set out in the notice of the AGM dated
November 15, 2005 were duly passed by the shareholders of the
Company at the AGM held on December 8, 2005.

This announcement is dated 8 December 2005.

CONTACT:

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


RASHID HUSSAIN: Converts ICULS to Ordinary Shares
-------------------------------------------------
Rashid Hussain Berhad advised that its additional 41,200 new
ordinary shares of MYR1.00 each issued pursuant to the
conversion of MYR46,556 Nominal Value of Irredeemable
Convertible Unsecured Loan Stocks-B 2002/2012 into 41,200 new
ordinary shares will be granted listing and quotation by Bursa
Malaysia Securities Berhad with effect from 9:00 a.m., Friday,
December 9, 2005.

CONTACT:

Rashid Hussain Berhad
9th Floor, RHB 1, 424,
Jalan Tun Razak, Kuala Lumpur Wilayah
Persekutuan 50400
Malaysia
Telephone: 03-92852233
Fax: 03-92848949


SATERAS RESOURCES: Details Wind Up Petition on Unit
---------------------------------------------------
Sateras Resources (Malaysia) Berhad submitted to Bursa Malaysia
Securities Berhad details of the winding-up petition served
against M.K. Associates Sdn Bhd, a wholly owned subsidiary of
Sateras Resources (Malaysia) Berhad.

The Company advised that M.K. Associates Sdn Bhd (MKA), a wholly
owned subsidiary of Sateras Resources (Malaysia) Berhad had been
wound up pursuant to Section 218 of the Companies Act, 1965 on
December 5, 2005.

Name of the petitioner
Malaysian Government

The date of winding-up petition served on M.K. Associates Sdn
Bhd

The winding-up petition was served on MKA at the registered
office on May 31, 2004.

The particulars of the claim under the petition, including the
amount claimed for under the petition and interest rate
MKA owes the Inland Revenue Board of Malaysia an amount of
MYR2,987,114.12 as per the winding-up petition dated April 20,
2004.

The details of the default or circumstances leading to the
filing of winding-up petition

The petitioner sent a copy of the statutory notice of demand
dated July 15, 2003 to demand for an amount of MYR2,987,114.12
together with interest calculated as at July 8, 2003. Due to
default in payment of the said amount after the lapse of 21
days, pursuant to Section 218(2)(a) of the Companies Act, 1965,
a petition was then served to the Court to wind up MKA.

The total cost of investment in M.K. Associates Sdn Bhd
MYR66,036,614.55

The financial and operational impact arising from the winding-up
petition

There is no financial and operational impact as full provision
have been made.

The expected losses, if any arising from the winding-up petition
MKA is expected to incur legal fees, yet to be ascertained.

The steps that Sateras has taken and will take with regards to
the winding-up petition.

However, the Board of directors' of MKA has decided to take the
matter on appeal whereby a Notice of Appeal has been filed and
served on December 8, 2005. The board of directors' are also in
the midst of filing an application for stay of the said order.

CONTACT:

Sateras Resources (malaysia) Berhad
19 Jalan Pinang
50450 Kuala Lumpur, Kuala Lumpur 50450
Malaysia
Telephone: +60 3 2162 5288 /+60 3 2161 8529


SETEGAP BERHAD: Court Extends Interim Restraining Order
-------------------------------------------------------
Further to the announcement made on September 22, 2005, the
Board of Directors of Setegap Berhad informed Bursa Malaysia
Securities Berhad that the High Court of Malaya, Kuala Lumpur
has granted an extension of the Interim Restraining Order to
February 15, 2006, and has also scheduled Setegap Berhad's
application for a further extension of the Restraining Order
dated March 17, 2005 for hearing on February 15, 2006.

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: Proposed Asia General Acquisition Dismissed
----------------------------------------------------------
Southern Bank Berhad issued to Bursa Malaysia Securities Berhad
an update to the proposed acquisition of the entire equity
interest in Asia General Holdings Limited, Singapore.

The Board of Directors of Southern Bank Berhad (SBB) advised
Bursa Malaysia Securities Berhad that Bank Negara Malaysia (BNM)
in its letter dated December 6, 2005 has informed SBB that the
proposed acquisition of Asia General Holdings Limited (AGHL) has
not been approved.

The Board of Directors is seeking clarification from Bank Negara
Malaysia. As appropriate, the Board of Directors will review
alternative courses of action, including whether there is any
basis for reconsideration.

The Extraordinary General Meetings 1&2 of SBB shareholders will
continue as scheduled on December 12, 2005.

CONTACT:

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


SOUTHERN BANK: Bourse Lifts Suspension of Trading
-------------------------------------------------
Further to Listing's Circular No. L/Q 34364 of 2005, kindly be
advised that trading in Southern Bank Berhad's securities has
resumed with effect from 9:00 a.m., Thursday, December 8, 2005.


SUNRISE BERHAD: SC Approves Application for Exemption
-----------------------------------------------------
Sunrise Berhad unveiled to Bursa Malaysia Securities Berhad
details of the exemption under Practice Note 2.9.10 of the
Malaysian Code on take-overs and mergers, 1998 to Casa Unggul
Sdn Bhd and parties acting in concert with it from the
obligation to undertake a mandatory offer for all the remaining
ordinary shares of MYR1.00 each in Sunrise pursuant to a renewal
of a share buy back mandate of Sunrise (2.9.10 EXEMPTION).

The company refers to the announcement by Sunrise dated October
27, 2005 in relation to the approval from the shareholders of
Sunrise for the 2.9.10 Exemption.

Commerce International Merchant Bankers Berhad, on behalf of the
Board of Directors of Sunrise, advised the Bourse that the
Securities Commission has, via its letter dated December 6, 2005
approved the application made by Casa Unggul Sdn Bhd and parties
acting in concert with it, namely Tong Kooi Ong, Dato' Lim Kim
Huat, Phoenixflex Sdn Bhd, Tan Sri Dato' Tan Chee Sing, Puan Sri
Datin Chan Shao Tsiu, Ng Seng Hin, Ng Say Guan, Chan Chau Cheng
and Wong Ping Kong, for the 2.9.10 Exemption.

This announcement is dated 7 December 2005.

CONTACT:

Sunrise Berhad
Penthouse, Wisma Sunrise,
Plaza Mont'Kiara, No. 2,
Jalan 1/70C, Mont'Kiara, Kuala Lumpur
Wilayah Persekutuan
50480
Telephone: 03-62012288
Fax: 03-62016079


TRU-TECH HOLDINGS: SC Scraps Proposed Restructuring Scheme
----------------------------------------------------------
Tru-Tech Holdings Berhad (Tru-Tech) issued to Bursa Malaysia
Securities Berhad an update to the following proposals:

- Proposed Acquisition;

- Proposed Exemption;

- Proposed Capital Reconstruction;

- Proposed Scheme of Arrangement with Creditors;

- Proposed JVA Settlement;

- Proposed Listing Transfer;

- Proposed Disposal;

- Proposed Offer for Sale; and

- Proposed Placement

(collectively, the Proposed Restructuring Scheme)

On behalf of the Board of Directors of Tru-Tech, Avenue
Securities Sdn Bhd announced that the Securities Commission (SC)
had, vide its letter dated December 7, 2005, informed that the
Proposed Restructuring Scheme was not approved as the SC is of
the view that the Proposed Restructuring Scheme does not meet
the requirements of Chapter 13 of the SC's Policies and
Guidelines on Issue/Offer of Securities.

The Board will make an application for a review of the
abovementioned SC's decision within 30 days from December 7,
2005 and an announcement will be made in due course.

This announcement is dated 8 December 2005.

CONTACT:

Tru-tech Holdings Berhad
Lot 45, Batu 12
Jalan Johor Bahru - Kota Tinggi
Mukim Plentong
81800 Ulu Tiram
Johor
Telephone: 07-8615220
Fax: 07-8616371


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

BENPRES HOLDINGS: Still Keen on Sale of Non-core Ops
----------------------------------------------------
Benpres Holdings is still determined to divest its non-core
businesses like transportation and telecommunication if the
price is right, according to BusinessWorld.

The Lopez holding firm's president, Angel Ong, made the
statement after the pronouncement of Metro Pacific Corp. that it
had difficulty in sealing deals with the Lopezes.

Metro Pacific has signified strong interest in the Lopezes'
landline company Bayan Telecommunications, Inc. (BayanTel) and
its 68-percent stake in Manila North Tollways Corp. (MNTC).
Purchase talks, however, ended due to pricing disagreements.

Mr. Ong said Benpres still draws interested buyers other than
Metro Pacific for its stake in BayanTel and MNTC. He, however,
did not disclose the names of potential buyers and the terms the
company wants. He said the amount to be raised from Benpres'
sale of its non-core assets in toll road and telecoms had yet to
be determined.

"Benpres Holdings maintains its position that non-core
investments are for sale at the right price," he said.

CONTACT:

Benpres Holdings Corporation
4/F, Benpres Building
Exchange Road corner Meralco Avenue
Ortigas Center, Pasig City
Phone No:  633-3368
Fax No:  634-3009
E-mail Address: jr_benpres@bayantel.com.ph
Web site:  http://www.benpres-holdings.com


CENTRAL AZUCARERA: Strike Ends After a Year
-------------------------------------------
In Dec. 8, 2005, a Memorandum of Agreement was signed between
Central Azucarera de Tarlac (CAT) and Central Azucarera de
Tarlac Labor Union (CATLU) ending the strike staged on Nov. 6,
2004.

Following the said Agreement, CAT's operations will resume
anytime.

CONTACT:

Central Azucarera de Tarlac
Jose Cojuangco and Sons Building
119 de la Rose Street
Legaspi Village, City of Makati
Phone: 818-3911
Fax: 817-9309


HACIENDA LUISITA: Inclusion in CARP Coverage Due This Month
-----------------------------------------------------------
A move that would pave the way for the land title distributions
of Hacienda Luisita to around 5,000 farmer beneficiaries early
next year, BusinessWorld reports.

Inclusion of the 6,000-hectare Hacienda Luisita Inc. (HLI) of
the Cojuancos in the government's land reform program is
expected this month.

In a majority vote Tuesday, The Presidential Agrarian Reform
Council (PARC) voted to uphold the Department of Agrarian
Reform's (DAR) recommendation to scrap the 16-year-old stock
deal option the Cojuangcos forged with Hacienda Luisita farmers.

While the matter of the actual ownership of the Hacienda Luisita
may still be elevated to President Gloria Macapagal Arroyo, as
PARC chairman, chances of overturning the decision against the
stock distribution are slim.

Last week, the draft resolution of the interagency validation
committee headed by the Department of Justice sustained the DAR
recommendation to recall the stock deal following findings of
violations on the part of the HLI management.

Malacanang has not indicated any inclination towards overturning
the cancellation of the stock deal option between Hacienda
Luisita farmers and the Cojuangcos.


LAFAYETTE MINING: Shares Offer in Demand
----------------------------------------
Lafayette Mining expects to reap around AU$10 million from a
widespread placement of shares at the price of AU$11 cents a
share, according to The Age.

Brokers reported strong demand for the placement, the price of
which compares with Lafayette's pre-placement price of 13.5
cents a share.

The Melbourne-based mining firm hopes that the proceeds of the
shares placement will help offset the losses caused by the
temporary suspension of operations at its flagship RapuRapu
project in the Philippines.

The first incident occurred within the Rapu Rapu gold processing
plant on Oct. 10 when there was an uncontrolled spill of waste
containing low levels of residual cyanide. The firm was
permitted to continue operations after an investigation by
authorities.

The second spill happened on Nov. 1 when a torrential rain
resulted in increased volumes of water in retention/catchment
system, which forced Lafayette to make a "controlled" discharge.

But concerns with the two spills, and the planned switch at Rapu
Rapu to base metals production, prompted the decision to suspend
operations in mid-November. Lafayette has a meeting with
authorities in the Philippines on Friday, with the expectation
being that operations will be able to resume early next year.

Rapu Rapu is one of several Australian-backed projects that the
Philippines Government is banking on to kick-start a revival of
the country's mining industry. The Government has identified 23
priority mining projects that it expects to go on stream between
2005 and 2010.

CONTACT:

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


MANILA MINING: Unveils Board Meeting Results
--------------------------------------------
At the board meeting of Manila Mining Corporation on Dec. 13,
2005:

1. Mr. Charles Lyndon Bradish tendered his resignation as
President of the Company in view of the current negotiations
between the Company and East Asia Minerals Corporation, of which
he is also an executive. His resignation was accepted by the
Board;

2. Mr. Patrick K. Yap, a Director of the Company, was appointed
as Senior Vice President;

3. Mr. Rene F. Chanyungco, Senior Vice President and Treasurer,
was appointed as Compliance Officer-Good Governance, replacing
Mr. Virgilio G. Medina who has retired.

CONTACT:

Manila Mining Corporation
20/F, Lepanto Building
8747 Paseo de Roxas
Makati City
Phone:  815-9447 to 50
Fax:  812-0451; 810-5583
E-mail Address:  odette.javier@lepantomining.com


PACIFIC PLANS: Granting of License Props Up SEC's Bid
-----------------------------------------------------
The Securities and Exchange Commission (SEC) said the license to
sell securities recently granted to Pacific Plans Inc. only
reinforces the regulator's opposition to the pre-need firm's
court-approved rehabilitation, reports BusinessWorld.

SEC Secretary Gerard Lukban stressed the order to grant a
dealer's license to Pacific Plans, which is still with the
nontraditional securities and instruments department, only
strengthens the regulator's stand against its rehabilitation.

According to Mr. Lukban, the latest development shows that the
SEC sees SEC sees Pacific Plans as financially fit to do
business, thus it does not need rehabilitation.

When asked why Pacific Plans was granted a license over the
Sobrepena-led College Assurance Plans (Philippines), Inc. (CAP)
and Salas-led Platinum Plans Philippines, Inc., Mr. Lukban said
the SEC took some issues into consideration in making the
decision to grant a license.

Mr. Lukban explained that CAP and Platinum are insolvent, while
Pacific is not. In addition, he said, Pacific has the corporate
assets to support its operations.

CONTACT:

Pacific Plans Inc.
2nd Flr., Grepalife Bldg,
221 Sen. Gil Puyat Ave.
Makati City
E-mail: bizialcita@grepa.com


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

ACCORD CUSTOMER: Buys Back Unit's Shares in Restructuring
---------------------------------------------------------
As part of an ongoing exercise to rationalise its structure and
consolidate operational assets, Accord Customer Care Solutions
Limited (ACCS) announces that it acquired the 50% shareholding
in Accord Customer Care Solutions (Aust) Pty Ltd (ACCS Aust)
back from Lion Capital International Limited (Lion Capital), a
wholly owned subsidiary of Mobile Communication Service Pte
Limited (MCS), resulting in ACCS Aust becoming a wholly owned
subsidiary of the Company.

On Dec. 16, 2004, the Company announced the divestment of 50% of
its shareholding in ACCS Aust to Lion Capital. The key terms of
the divestment were highlighted in the Company's announcement
that same day.

The Buy-Back is essentially a reversal of the divestment, with
the consideration for the Buy-Back to be satisfied in the
following manner:-

(i) ACCS will pay a nominal cash consideration of SGD2 to Lion
Capital; and

(ii) cancellation of the bonds, call options and the preference
shares issued/granted by MCS pursuant to the Divestment.

In this connection, all previous agreements relating to the MCS
bonds, call options and preference shares will be terminated as
of the date of legal completion of the Buy-Back and the parties
thereto shall release each other from all obligations and
liabilities thereunder. The original sale and purchase agreement
relating to the Divestment continues to be in force, and the
parties thereto remain liable for any outstanding obligations.

On the Buy-Back, ACCS CEO Tong Choo Cherng said, "We re-examined
the basis for the Divestment in the first instance. ACCS Aust is
the vehicle for all our subsidiaries in Australia and New
Zealand. Our AMS division is a leading independent service
provider in these markets and customers include telco operators,
manufacturers and major national retail chains. As such, we
believe that the Buy-Back will facilitate a tighter integration
of services and processes across the Group's regional network
and enable us to shorten the introduction of service, process
and system enhancement to all our markets. It will also
strengthen our control and management of operations and the
integrity of all processes."

Mr. Tong added, "Whilst stability is being restored in the
Group, Management's priority going forward is to steer the
Company back to profitability and long-term growth. Key
initiatives in this respect include rationalising the Group's
structure for operational efficiency as well as introducing new
customers and new businesses into the regional network."

The Buy-Back is not expected to have a material impact on the
consolidated earnings per share and net tangible asset per share
of the Group for the current financial year.

BY ORDER OF THE BOARD

Woo Kah Wai
Company Secretary

Dec. 13, 2005

CONTACT:

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


DEUCHEM SINGAPORE: Schedules Final Meeting Next Month
-----------------------------------------------------
Notice is hereby given that a final meeting of Deuchem Singapore
Pte Limited will be held on Jan. 12, 2006, 10:00 a.m. at 1
Scotts Road, #21-07/08/09 Shaw Centre, Singapore 228208, for the
purposes as stated in section 308 of the Companies Act, Cap. 50.

Dated this 12th day of December 2005

Madam Chia Lay Beng
Liquidator
C/o 1 Scotts Road
#21-07/08/09 Shaw Centre
Singapore 228208

Note:

A member entitled to attend and vote at the General Meeting is
entitled to appoint a Proxy to attend and vote on his behalf and
such Proxy need not be a member of the Company. The Form of
Proxy must be deposited at the Liquidators' Office not less than
48 hours before the time appointed for holding the Meeting or
adjourned Meeting.


HL SENSECURITY: Shareholder Files Winding Up Petition
-----------------------------------------------------
Notice is hereby given that Sensecurity Investments Pte Limited,
a shareholder in HL Sensecurity Pte Limited, filed a winding up
petition against the Company with the Singapore High Court on
Dec. 1, 2005.

The Petition is directed to be heard before the Court sitting at
Singapore on Jan. 20, 2006, 10:00 a.m.

Any Company creditor or contributory desiring to support or
oppose the making of an order on the said Petition may appear at
the time of hearing by himself or his Counsel for that purpose.

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

The Petitioners' address is 14 Science Park Drive #03-04, The
Maxwell, Singapore 118226.

The Petitioners' solicitors are Messrs Moey & Yuen of 133 Cecil
Street #09-03, Keck Seng Tower, Singapore 069535.

Messrs Moey & Yuen
Solicitors for the Petitioners

Note:

Any person who intends to appear at the hearing of the said
Petition must serve on or sent by post to solicitors Messrs Moey
& Yuen a written notice of his intention to do so. The notice
must state the name and address of the person, or, if a firm,
the name and address of the firm, and must be signed by the
person or firm, or his or their 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 12:00 p.m. of Jan. 19,
2006 (the day before the day appointed for the hearing of the
petition).


LIANG HUAT: To Hold EGM on Dec. 29
----------------------------------
Liang Huat Aluminum Limited dispatched a notice of its
Extraordinary General Meeting (EGM) to shareholders on Dec. 13,
2005, seeking approval for the disposal of its property and a
proposed change of auditors.

The EGM will be held on Dec. 29, 2005, 10:00 a.m. at 51 Benoi
Road, Block 8 #01-08, Liang Huat Industrial Complex, Singapore
629908.

To view the EGM notice, go to:

http://bankrupt.com/misc/tcrap_lianghuat121405.pdf

CONTACT:

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


UNITED FIBER: Denies Signing Paper Mill Takeover Deal
-----------------------------------------------------
United Fiber System Limited (UFS) clarifies an article that was
published in Business Times on Dec. 14, 2005, which mentioned
that the Company signed the outlines of a takeover deal with the
owners of a controversial Borneo pulp mill; such statement is
inaccurate. The Company announces that it was informed by
Kingslcere Finance Limited that Kingsclere has signed an
agreement with the vendors for the purchase by Kingsclere of the
entired issued and paid up capital of Indonesian pulp mill PT
Kiani Kertas (PT KK) from the vendors.

As previously announced on June 29, 2005, UFS entered into a
non-binding letter of intent with Kingsclere to acquire a
majority stake in PT KK, for a price to be determined after
conclusion of due diligence investigations on PT KK. The Company
announces that although the due diligence investigation is still
ongoing, it has progressed to an advanced stage which has
enabled it to make substantial progress in the negotiation of
the definitive sales and purchase agreement with Kingslcere.

The Company will make the necessary announcements and updates at
the appropriate time.

By order of the Board

Kishore Dass
UFS CEO

CONTACT:

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


XEN PURE: Asks Creditors to Receive Debt Claims
-----------------------------------------------
Notice is hereby given that the creditors of Xen Pure & Full of
Spirit Pte Limited, which is being wound up voluntarily, are
required on or before Jan. 3, 2006 to send in their names and
addresses and the particulars of their debts or claims and the
names and addresses of their solicitors (if any) to the Company
Liquidators.

If so required by written notice from the said Liquidators, they
are to come in by their solicitors, or personally and prove
their 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

Chia Soo Hien
Ng Geok Mui
Liquidators
C/o BDO Raffles
5 Shenton Way
#07-01 UIC Building
Singapore 068808


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

DATAMAT: SET Further Suspends Trading of Securities
---------------------------------------------------
Previously, the Stock Exchange of Thailand (SET) has posted an
SP (Suspension) sign against the securities of Datamat Public
Company Limited (DTM) from the first trading session of August
16, 2005 because DTM has failed to submit its financial
statements for the period ending June 30, 2005.

Presently, DTM has already sent its reviewed financial
statements for the period ending June 30, 2005 to the SET.

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

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

Therefore, DTM has been under the rehabilitation process, so the
SET has still suspended trading all securities of DTM until the
causes of delisting are eliminated.

CONTACT:

Datamat Public Company Limited
Asoke Towers, Floor 17, 18 And 19,
219 Soi Asoke (Sukhumvit 21),
Sukhumvit Road, Klongtoey Nua,
Watthana Bangkok
Telephone: 0-2310-5111
Fax: 0-2319-8208
Web site: http://www.datamat.co.th


SIAM AGRO-INDUSTRY: To Close Shareholders' Book Dec. 27
-------------------------------------------------------
Siam Agro-Industry Pineapple And Others Public Company Limited
informed the Stock Exchange of Thailand (SET) that pursuant to
the order of the Central Bankruptcy Court to proceed with the
capital reduction in accordance with the business reorganization
plan, the Company advised the SET that it would close the
shareholders' book on December 27, 2005 at 12:00 a.m. in order
to know the list of the shareholders whose shares are to be
reduced as per plan.

The information regarding the business operation after the
acquisition of the newly issued shares shall be disclosed later.

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

Yours sincerely,
Mr. Praful Shah
Managing Director
Director
The Siam Agro Industry Pineapple and Others Public Co. Ltd
Asian International Planners Limited
as the CO-plan administrators

CONTACT:

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


THAI PETROCHEMICAL: Unveils Share Offer Results
-----------------------------------------------
Thai Petrochemical Industry Public Company Limited (TPI)
furnished Bursa Malaysia Securities Berhad the following
information:

(1) Information relating to the share offering

(1.1) Strategic Investors

Category of shares offered: Capital Increased Ordinary shares

Number of shares offered: 7,751,088,789 shares

Offered to: Strategic Investors

Price per share: THB3.30

Subscription date: December 13, 2005

Payment date: December 13, 2005

(1.2) Existing Shareholders

Category of shares offered: Capital Increased Ordinary shares

Number of shares offered: 3,900,000,000 shares

Offered to: Existing Shareholders

Price per share: THB3.30

Subscription date: November 30 - December 7, 2005

Payment date: December 13, 2005

(2) Results of the sale of shares

(2.1) Strategic Investors
(/) Totally sold out

( ) Partly sold out, with shares remaining. The company will
distribute such shares as follows.

(2.2) Existing Shareholders

(/) Totally sold out

( ) Partly sold out, with shares remaining. The company will
distribute such shares as follows.

(3) Details of the sale

(3.1) Strategic Investors

          Thai Investors                Foreign Investors
Juristic Persons    Natural Persons      Juristic      Natural
                                         Persons

Number of persons

       4                 -                -               -

Number of shares

  7,751,088,789          -                -               -

Percentage of total
shares offered for sale

100 percent                -                -               -

(3.2) Existing Shareholders

             Thai Investors            Foreign Investors
Juristic Persons   Natural Persons   Juristic    Natural Persons

Number of persons

      278              18,579           39            66

Number of shares

  1,413,986,680   2,151,727,570    162,502,273  171,783,477

Percentage of total shares offered for sale

  36.26 percent    55.17 percent     4.17 percent  4.40 percent

Remarks: Source from Krung Thai Bank Public Company Limited, the
sole Processing Agent to facilitate the sale process of the
Offered Shares to existing shareholders

(4) Amount of money received from the sale of shares

Total amount: THB38,448.593 million

Less

Total fee: THB73.263 million

(excluding TSD closing of the Company's shareholder registration
book)

(1) Subscription document printing: THB0.178 million

(2) Legal Fee: THB0.065 million

(3) Underwriting Fee: THB64.350 million

(4) Subscription Service Fee: THB4.500 million

(5) Public Relation and Advertising: THB4.170 million

Net amount received: THB38,375.330 million

The company hereby certifies that the information contained in
this report is true and complete in all aspects.

Gen. Mongkon Ampornpisit
The Plan Administrator
Thai Petrochemical Industry Public Company Limited
Mr. Pakorn Malakul Na Ayudhya
The Plan Administrator
Thai Petrochemical Industry Public Company Limited


WYNCOAST INDUSTRIAL: To Hold Warrant Exercise
---------------------------------------------
As Wyncoast Industrial Park Plc. issued 63,220,000 units of
Warrants on July 30, 1998 and these warrants will be at its 30th
exercise date on December 30, 2005, the Company informed the
Stock Exchange of Thailand (SET) of the details of the warrant
exercise:

(1) Exercise date:

The exercise dates of the Warrants are the normal working hours
of the Company's share registrar during 8:30 a.m. to 3:30 p.m.
on March 30, June 30, September 30 and December 30 of each year.
The first exercise date was on September 30, 1998 and the last
exercise date shall be on June 30, 2008.

If any exercise date falls on the holiday of the Company's share
registrar, such exercise date shall be moved to the succeeding
working day. The 30th exercise date is scheduled December 30,
2005.

(2) Date to notify the intention to exercise:

At any time during 8:30 a.m. to 3:30 p.m. of December 16, 2005
to December 29, 2005.

(3) Exercise ratio: 1 warrant has a right to subscribe 0.2685
ordinary shares.

(4) Exercise price: THB1 per share.

(5) Documents to be submitted:

(i) Exercise notice which has been accurately and completely
filled in.

(ii) Warrant certificates or temporary warrant certificates in
the form prescribed by the Stock Exchange of Thailand with the
amount specified in the exercise notice.

(iii) Cheque, draft, bill of exchange or payment order from
banks which can be cashed in Bangkok Metropolitan when called
within two days and shall be made payable to Wyncoast Industrial
Park Public Company Limited. The date on such payment shall not
exceed the date of each exercise date.

(iv) Certified copy of identification card for individual
holders or copy of corporate certification from Department of
Commerce for corporate holders.

(6) Contact place:

Wyncoast Industrial Park Plc. 105 Moo 3, Bangna-Trad Road, KM.
52 Thakham, Bangpakong,Chachoengsao 24130,
Telephone Number: (038) 573-161 ext. 1131
Fax Number: (038) 573-218.

The Company shall not close the register book to stop the
transfer of the Warrants except for the last exercise that the
register book shall be closed 21 days prior to the last exercise
date.

Sincerely yours,
Pathrlap Davivongsa
Chief Executive Officer
The Stock Exchange of Thailand

CONTACT:

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






                            *********


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

Troubled Company Reporter -- Asia Pacific is a daily newsletter
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Copyright 2005.  All rights reserved.  ISSN: 1520-9482.

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