TCRAP_Public/051227.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

           Tuesday, December 27, 2005, Vol. 8, No. 256

                            Headlines


A U S T R A L I A

ALEXANDER FORBES: Members to Review Liquidator's Report
BKJ GROUP: Court Releases Winding Up Order
BRIARS SPORTING: Winds Up Operations
CARTER FINANCE: Enters Voluntary Liquidation
CARTER HOLT: Still Not Out of Cartel Mess

DM BUILDING: Liquidator to Explain Wind Up Manner
ECA INVEST: To Declare Final Dividend
FLOWERS BY ANDREA: Members Pass Winding Up Resolution
FORTESCUE METALS: Sales Deals Buoy Shares
HELEN O'GRADY: Intends to Pay Dividend to Creditors

INCEL CORPORATION: Appoints Official Liquidators
INDUSTRIAL REALTY: Schedules Final Meeting Jan. 5
LIGON 118: Liquidator to Distribute Company Assets
LIMET PTY: Members Pass Winding Up Resolution
MOYES MICROLITES: Creditors OK Liquidator's Appointment

MULTIPLEX: Gets FA Support on Wembley
MULTIPLEX: London Mayor Says Wembley Job a 'Fiasco'
NYLEX LIMITED: Sale Paves Way for Restructure
PCW GLOBAL: Decides to Close Business
R&J WASTE: Court Names Christopher Palmer as Liquidator

SAGE INTERNATIONAL: Liquidator to Present Report Jan. 5
SKH PILING: Creditors Opt for Voluntary Liquidation
TECHNOLOGY PARTNERS: To Declare Dividend Soon
T.J.& J.A. HOSKING: Placed Under Voluntary Liquidation
ZEST PTY: Court Orders Winding Up

* Three Firms Face Winding Up Over Investment Scheme


C H I N A  &  H O N G  K O N G

BANK OF CHINA: Temasek Buys 5% Stake
CHIEFUND INVESTMENT: Annual Members, Creditors Meetings Set
CHINA MOTION: Share Trading Halted
CRESVALE FUTURES: Intends to Declare First, Final Dividend
GUANGDONG INTERNATIONAL: Creditors Meeting Fixed Jan. 11

GUANG XIN: Creditors Set to Meet to Hear Liquidator's Accounts
HYCOMM WIRELESS: 1H05 Net Loss Narrows to HK$5.9 Mln
INH SERVICES: Members AGM Slated for Jan. 13
JILIN CHEMICAL: Private Offer Accept Time to End Dec. 31
ROHLIG CHINA: Creditors Meeting Fixed Jan. 23

SAM WOO: Results Swing to HK $2.6 Mln Profit
SHANGHAI LAND: Brokers Jailed for Frustrating SFC Inquiries


I N D I A

BWL LIMITED: To Convene Board Meeting Jan 27
ESCORTS LIMITED: BOD to Meet Dec. 30 for FY05 Results
MOSER BAER: CRISIL Rating Withdrawn
THOMAS COOK: Shares Acquisition by Dubai Financial Approved


I N D O N E S I A

INDOSAT: Appoints New President Director


J A P A N

FUJITSU LIMITED: Develops Palm Vein Authentication Technology
SANYO ELECTRIC: Enters Indian Market
SEIBU DEPARTMENT: In Final Merger Talks with Ito-Yokado
SONY CORPORATION: Names Tim Schaaff as SVP


K O R E A

LG CARD: Projects Higher-than-expected Profit this Year


M A L A Y S I A

ANCOM BERHAD: Buys Back Ordinary Shares
ARTWRIGHT HOLDINGS: SC Grants Extension of Time for Settlement
ASIAN PAC: To Undertake Second Redemption of RCSLS
AYER HITAM: Shareholders OK Resolutions at AGM
LION CORPORATION: Lenders Signal Approval to Proposals

MAGNUM CORPORATION: Issues New Shares for Listing, Quotation
MAGNUM CORPORATION: Releases Shares Buy Back Notice
MAXIS COMMUNICATIONS: Acquires Shares in Global Communication
MBF HOLDINGS: Unit Forges Loan Deal with Corali
MEDIA PRIMA: Bourse Lists, Quotes Additional Shares

PDZ HOLDINGS: All Resolutions Approved at AGM
PELIKAN INTERNATIONAL: New Shares Up for Listing, Quotation
PUNCAK NIAGA: Obtains SC OK to Implement Resolutions Passed
SBBS CONSORTIUM: Applies for Extension of Court Order
SOUTHERN BANK: Undertakes Warrant Exercise

TA ENTERPRISE: Dormant Unit Struck Off from Registry
TENAGA NASIONAL: Issues Additional Shares


P H I L I P P I N E S

APEX MINING: Board OKs Liabilities, Deferred Costs Write-offs
ABS-CBN BROADCASTING: Faces Illegal Dismissal Charges
BACNOTAN CONSOLIDATED: Notes Changes in Shareholdings
MANILA ELECTRIC: Phase IV-A of Refund Process Kicks Off January
MAYNILAD WATER: Accused of 'Inefficient Service'


S I N G A P O R E

ALADDIN SALES: Set to Declare Dividend
ELEXT PCB: To Distribute Dividend to Creditors
ELOGICITY PTE: Requires Creditors to Submit Debt Claims
INFORMATICS HOLDINGS: Borrows SGD1.5-Mln from Stakeholder
LINDETEVES-JACOBERG: Executes Proposed Restructuring

SUPPLEMENTS WORLD: U.S. Creditor Seeks to Wind Up Firm
UNITED FIBER: Extends Letter of Intent on Paper Firm Takeover


T H A I L A N D

PREMIER ENTERPRISE: Amends Rehabilitation Plan  
PREMIER ENTERPRISE: Hikes Registered Capital
THAI ENGINE: Unveils New Registered Capital
BOND PRICING: For the Week 26 December to 30 December 2005

     -  -  -  -  -  -  -  -

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

ALEXANDER FORBES: Members to Review Liquidator's Report
-------------------------------------------------------
Notice is given that a meeting of the members of Alexander
Forbes (Australia) Pty Limited will be held on Jan. 5, 2006,
10:00 a.m. at 201 Sussex Street, Sydney, NSW 1171 for the
following purposes:

AGENDA

(i) To present the Liquidator's report to the members, showing
how the Company's winding up was conducted and its property
disposed of, and to give any explanations as required;

(ii) Any other business.

Dated this 16th day of November 2005

Ronald George Davies
Liquidator
Level 20, Darling Park Tower 2
201 Sussex Street
GPO Box 5085, DX 77, Sydney NSW 2001


BKJ GROUP: Court Releases Winding Up Order
------------------------------------------
On Dec. 2, 2005, the Federal Court of Australia, NSW District
Registry ordered the winding up of BKJ Group Pty Limited, and
appointed Mr. Andrew Leslie Smith to be the Company Liquidator.

Dated this 6th day of December 2005

Andrew L. Smith
c/- PPB
Chartered Accountants and Business Reconstruction
Specialists
15th Floor, 25 Bligh Street, Sydney NSW 2000.
Telephone  (02) 9233 4955, Facsimile (02) 9221 1310


BRIARS SPORTING: Winds Up Operations
------------------------------------
Notice is hereby given that at a general meeting of the members
of The Briars Sporting Club Limited held on Dec. 2, 2005, it was
resolved that the Company be wound up voluntarily, and that Mr.
Christopher Wykes, Chartered Accountant of Level 7, 1 Margaret
Street, Sydney NSW 2000 be nominated to act as Liquidator for
the winding up.

Dated this 5th day of December 2005

Christopher Wykes
Liquidator
Lawler Partners Chartered Accountants
Level 7, 1 Margaret Street
Sydney NSW 2000


CARTER FINANCE: Enters Voluntary Liquidation
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Carter Finance Pty Limited held on Nov. 30, 2005, the
following resolutions were passed:

SPECIAL RESOLUTION

That the Company be wound up as a Members' Voluntary Winding Up.

ORDINARY RESOLUTION

That Mr. Raymond Arthur Carter of 5 Ridge Road, Tanah Merah Qld
4128, be appointed as Liquidator for such purpose.

Dated this 30th day of November 2005

Raymond A. Carter
Liquidator
Cranstoun & Hussein Chartered Accountants
Level 2, 10 Adelaide Street
Brisbane Qld 4000


CARTER HOLT: Still Not Out of Cartel Mess
-----------------------------------------
Carter Holt Harvey (CHH) is concerned it might join its major
competitors as defendants of a legal action over an alleged
cardboard-box cartel, The Advertiser reports.

CHH's two main competitors, Visy Industries and Amcor Limited,
are currently embroiled in a Federal Court action.

CHH escaped mention by the Australian Competition and Consumer
Commission (ACCC) when the regulator filed a case against Visy.
However, the New Zealand Commerce Commission (NZCC) is looking
into the possibility of a cartel operating there. In fact, the
watchdog last year raided CHH's New Zealand offices for evidence
it had engaged in price-fixing and bid-rigging.

A search warrant was also taken out over Visy's New Zealand
offices, but doesn't appear to have been executed.

CHH has since applied for access to the documents the NZCC used
to apply for the search warrants.

Lawyers for CHH told the Wellington District Court that the
company wanted to examine affidavits tendered in support of the
search warrant, so it could "consider and respond to the
commission's concerns".

But NZCC lawyers said it was investigating a serious and complex
case "in relation to a cartel with cross-border operation" and
required protection for its informants.

Judge John Walker, accepting that CHH had an interest in wanting
to know why the NZCC was allowed to seize commercially sensitive
material, said it was more important for investigations to
continue without potential witnesses knowing what the NZCC is
concentrating on, and therefore ruled that CHH should not be
able to see the documents.

CONTACT:

Carter Holt Harvey Limited
640 Great South Road
Manukau City, Auckland 1030
NEW ZEALAND  
Phone: +64 9 262 6000
Fax: +64 9 262 6099
Web site: http://www.chh.com


DM BUILDING: Liquidator to Explain Wind Up Manner
-------------------------------------------------
Notice is hereby given that a final general meeting of the
members of DM Building Investments Company Limited will be held
on Jan. 4, 2006, 10:00 a.m. at the office of PPB, Level 10,
90 Collins Street, Melbourne, Vic 3000, to receive the
Liquidator's account showing the manner of the winding up and
disposal of the property of the Company, and to hear any
explanation that may be given by the Liquidator.

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


ECA INVEST: To Declare Final Dividend
-------------------------------------
ECA Invest 1 Pty Limited will declare a final dividend on Jan.
3, 2006.

Creditors whose debts or claims have not already been admitted
are required to formally prove their debts or claims on or
before Jan. 3, 2006. If they do not, they will be excluded from
the benefit of the dividend.

Dated this 5th day of December 2005

Jason Bettles
Liquidator
Downie Insolvency
Web site: http://www.downieinsolvency.com.au


FLOWERS BY ANDREA: Members Pass Winding Up Resolution
-----------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Flowers by Andrea Louise Pty Limited held on
Dec. 1, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. David Henry Scott of Jones Condon Chartered
Accountants, Ground Floor, 77 Station Street, Malvern Vic 3144
was appointed as Liquidator of the Company at a creditors'
meeting held that same day.

Dated this 2nd day of December 2005

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


FORTESCUE METALS: Sales Deals Buoy Shares
-----------------------------------------
Shares in Fortescue Metals Group (FMG) skyrocketed to another
record Friday last week after the signing of fresh sales deals,
The West Australian reports.

FMG said it had agreed sales deals for a total five million
tonnes a year over 10 years with a further five unidentified
steel mills.

As a result, the firm's shares added 9cents to finish at a
record AU5.63, delivering an early Christmas present for founder
Andrew Forrest whose 47-percent stake in the group was revalued
to AU$583 million.

The latest development came just days after FMG received
environmental approval for its second stage Christmas Creek and
Mindy Mindy mines and an east-west rail spur linking the
Chichester Range mines to the main line to Port Hedland.

CONTACT:

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


HELEN O'GRADY: Intends to Pay Dividend to Creditors
---------------------------------------------------
Helen O'Grady International Old Pty Limited will declare a first
and final dividend on Dec. 31, 2005.

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

Dated this 20th day of October 2005

Andrew Birch
Liquidator
PPB
PO Box 7635, Cloisters Square
Perth WA 6850


INCEL CORPORATION: Appoints Official Liquidators
------------------------------------------------
At an extraordinary general meeting of Incel Corporation Pty
Limited held on Dec. 1, 2005, Messrs. Riad Tayeh and Antony de
Vries were appointed as Official Liquidators in the winding up
of the Company.

Dated this 1st day of December 2005

Riad Tayeh
Antony de Vries
Joint Liquidators
de Vries Tayeh
C/o Level 3, 95 Macquarie Street
Parramatta NSW 2150


INDUSTRIAL REALTY: Schedules Final Meeting Jan. 5
-------------------------------------------------
Notice is hereby given that the final meeting of the members of
Industrial Realty Pty Limited will be held on Jan. 5, 2006, 9:30
a.m. at Level 12, 60 Terrace Road East Perth WA 6004, to lay
before the Liquidator's final account and report and to give any
explanation thereof.

Dated this 18th day of November 2005

Peter Ronald Winzer
Liquidator
Level 12, 60 Terrace Road
East Perth WA 6004


LIGON 118: Liquidator to Distribute Company Assets
--------------------------------------------------
At a general meeting of the members of Ligon 118 Pty Limited
held on Dec. 7, 2005, the following special resolutions were
passed:

That the Company be wound up voluntarily, and that Mr. Paul
Jeffery of Crispin & Jeffery Chartered Accountants, Level 2, 57
Grosvenor Street, Neutral Bay NSW, be appointed as Liquidator
for the winding up.

That on the winding up of the Company, (subject to the payment
of its debts, liabilities and liquidation costs), the assets may
be distributed amongst the members in specie (the whole or in
part) according to their rights and interest in the
Company.

The resolution was unanimously carried.

Dated this 7th day of December 2005

Paul J, Crispin
C/o Crispin & Jeffery Chartered Accountants
Level 2, 57 Grosvenor Street
Neutral Bay NSW
Pphone: 02 9908 4744
Fax:    02 9953 8951


LIMET PTY: Members Pass Winding Up Resolution
---------------------------------------------
Notice is hereby given that on Dec. 5, 2005, the following
special resolution was passed:

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

Dated this 6th day of December 2005

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


MOYES MICROLITES: Creditors OK Liquidator's Appointment
-------------------------------------------------------
At a general meeting of the members of Moyes Microlites Pty
Limited held on Dec. 1, 2005, a Special Resolution was passed to
voluntarily wind up the Company, and Mr. Hugh C. Thomas was
appointed as Liquidator for such purpose.

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

Hugh C. Thomas
Liquidator
BKR Walker Wayland
8th Floor, 55 Hunter Street
Sydney NSW 2000


MULTIPLEX: Gets FA Support on Wembley
-------------------------------------
Embattled construction giant Multiplex Group has found an ally
on the controversial Wembley Stadium issue, according to The
Age.

Earlier, Multiplex warned it may not be able to complete the
Wembley project in time for the FA Cup final.

The English Football Association, however, has defended the
group and is confident the London stadium will be ready for the
FA Cup final in May.

The FA is optimistic Multiplex is on schedule to hand over the
stadium on March 31, even as the developer conceded the project
may not be ready on time and could incur substantial losses.

FA director of communications Adrian Bevington assured the
Cardiff's Millennium Stadium was on standby if Multiplex was
unable to fulfill its contractual obligations.

The owners of the site, Wembley National Stadium Limited, were
also optimistic the 90,000-seat stadium would be ready on time.

CONTACT:

Multiplex Group
1Kent Street
Miller's Point, New South Wales 2000
AUSTRALIA
Phone: +61 2 9256 5000
Fax: +61 2 9256 5001


MULTIPLEX: London Mayor Says Wembley Job a 'Fiasco'
--------------------------------------------------
London Mayor Ken Livingstone has described Multiplex Group's
troubled redevelopment of Wembley Stadium as a "fiasco", The
Advertiser reveals.

His comment came after Multiplex announced there is a "material
risk" that the 90,000 seat arena will not be completed in time
to host the FA Cup Final in May.

The project has become so costly that Multiplex has warned that
AU$165 million might be wiped from its profit during the current
financial year.

"This is exactly the sort of fiasco which has informed the way
we are going to construct the sites there. This went wrong from
the beginning because people who weren't architects and builders
kept interfering, changing design - the costs kept mounting,"
Mr. Livingstone said.

Wembley has also been booked to host an England-Hungary
international friendly on May 30, followed by England-Paraguay
on June 10.


NYLEX LIMITED: Sale Paves Way for Restructure
---------------------------------------------
The recent approval if the sale of Nylex Limited's plant-hire
business is expected to clear the way for earnings growth,
reports The Weekend Australian.

Nylex shareholders on Friday approved the sale of the firm's AH
Plant Hire business to the National Hire Group for AU$111
million. The sale is the latest in a series of sales as the
company undergoes restructuring.

Shareholders at a Nylex general meeting in Melbourne were told
that after the sale the company expected revenue to be about
AU$300 million in 2005-06 and between AU$350 million and AU$400
million in 2006-07.

Some of the funds from the sale would be used to repay debt,
making the company more financially stable than at any time over
the last five years.

CONTACT:

Nylex Limited
564 St Kilda Road
Melbourne, Victoria 3004
AUSTRALIA
Phone: +61 3 9533 9333
Fax: +61 3 9533 9388


PCW GLOBAL: Decides to Close Business
-------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of PCW Global Pty Limited held on Dec. 6, 2005,
it was resolved that the Company be wound up voluntarily, and
Mr. David Henry Scott of Jones Condon Chartered Accountants was
appointed as Liquidator for such purpose.

Dated this 6th day of December 2005

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


R&J WASTE: Court Names Christopher Palmer as Liquidator
-------------------------------------------------------
On Dec. 6, 2005, the Supreme Court of New South Wales, Equity
Division appointed Mr. Christopher J. Palmer as Official
Liquidator in the winding up of R&J Waste Services Pty Limited.

Dated this 20th day of December 2005

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


SAGE INTERNATIONAL: Liquidator to Present Report Jan. 5
-------------------------------------------------------
Notice is given that a final meeting of the members of Sage
International Pty Limited will be held on Jan. 5 2006, 10:00
a.m. at 201 Sussex Street, Sydney, NSW, 1171 for the following
purposes:

AGENDA

(i) To present the Liquidator's account showing the manner of
the Company's winding up and disposal of its property, and to
give any explanations as required;

(ii) Any other business.

Dated this 15th day of November 2005

Ronal George Davies
Liquidator
Level 20, Darling Park Tower 2
201 Sussex Street
GPO Box 5085, DX 77, Sydney NSW 2001


SKH PILING: Creditors Opt for Voluntary Liquidation
---------------------------------------------------
Notice is hereby given that on Dec. 1, 2005, the following
special resolution was passed:

That SKH Piling Pty Limited be wound up voluntarily relating to
a Creditors' Voluntary Winding Up, and that Mr. K. L.
Sutherland, Chartered Accountant of Level 5, 332 St. Kilda Road,
Melbourne be appointed as Liquidator for the wind up.

Dated this 1st day of December 2005

K. L. Sutherland
Liquidator
Bent & Cougle Pty Limited Chartered Accountants
Level 5, 332 St. Kilda Road
Melbourne Vic 3004


TECHNOLOGY PARTNERS: To Declare Dividend Soon
---------------------------------------------
Technology Partners (Australia) Pty Limited will declare a first
and final dividend on Dec. 31, 2005.

Creditors whose debts or claims have not already been admitted,
are required to formally prove their debts or claims on or
before Dec. 31, 2005. If they do not, they will be excluded from
the benefit of the dividend.

Dated this 29th day of November 2005

I. W. Burford
Liquidator
Hood Sweeney Pty Limited
110 Hutt Street, Adelaide SA 5000
Phone: 8223 6868


T.J.&J.A. HOSKING: Placed Under Voluntary Liquidation
-----------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of T. J.&J. A. Hosking Pty Limited held on Dec.
1, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. Paul Gerard Weston of Horwath Sydney
Partnership, Level 10, 1 Market Street, Sydney NSW 2000 was
appointed as Liquidator of the Company at a creditors' meeting
held that same day.

Dated this 6th day of December 2005

Paul G. Weston
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street
Sydney NSW 2000


ZEST PTY: Court Orders Winding Up
---------------------------------
On Dec. 2, 2005, the Federal Court of Australia, New South Wales
District Registry appointed Mr. Christopher J. Palmer as
Liquidator in the winding up of Zest (Wollongong) Pty Limited.

Dated this 13th day of December 2005

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


* Three Firms Face Winding Up Over Investment Scheme
----------------------------------------------------
The Australian Securities and Investments Commission (ASIC has
obtained interim orders, by consent, in the Federal Court in
Melbourne against a number of companies connected with an
investment product known as the Investors Choice Fixed Interest
Program (the scheme).

The companies are Royal Parade Properties Pty Ltd (formerly
known as Investors Choice Pty Ltd), Vitalskill Management Pty
Ltd and Infocus Management Australia Pty Ltd.

ASIC is applying to wind up the scheme and three companies. ASIC
alleges that the companies contravened the Corporations Act (the
Act) by operating a managed investment scheme with more than 20
investors, which was not registered with ASIC, as required under
the Act.

ASIC also alleges that the companies had operated a financial
services business and provided financial product advice whilst
not holding an Australian financial services licence (AFSL).

Investors in the scheme were required to subscribe to a minimum
of $30,000 and in return they would receive units in the scheme.
The units were valued at $1 per unit and individual investment
amounts were to be provided to a Trustee to invest in a property
development in South Morang, Victoria. The investment was to be
secured either by a debenture mortgage or by a second registered
mortgage.

ASIC's investigations suggest around 26 investors, all from
Melbourne, have invested approximately about $2.8 million into
the scheme, since January 2004.

ASIC has obtained interim orders by consent restraining the
three companies from:

- carrying on a financial services business without an
Australian Financial Services License;

- providing financial product advice in relation to managed
investment schemes;

- receiving or soliciting any further funds in connection with
the scheme; and

-disposing or dealing with property in relation to the scheme
save for the purpose of repaying funds to the investors.

ASIC also secured an order by consent requiring the defendants
to procure repayment in full to all investors (including any
accumulated interest) by Jan. 15, 2006.

ASIC is seeking declarations that the defendants have
contravened the Act together with orders that the unregistered
managed investment scheme and three companies be wound up.

The matter will return to court on Feb. 15, 2006 for further
directions.  


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

BANK OF CHINA: Temasek Buys 5% Stake
------------------------------------
Temasek Holdings has won approval from the Central Bank of China
to buy a 5-percent stake in Bank of China, the Caijing business
magazine said in its latest edition published on Monday.

Under the approved plan, Temasek would buy 5 percent in new
shares from Bank of China, scrapping its earlier bid to buy
another 5 percent from Central Huijin, the central bank's
investment agency that manages foreign currency funds injected
into the nation's big state banks.

"Bank of China will implement its stock listing plan at the
fastest possible speed after getting the investment," the
magazine said.

Bank of China plans to list its shares overseas next year.

CONTACT:

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


CHIEFUND INVESTMENT: Annual Members, Creditors Meetings Set
-----------------------------------------------------------
Notice is hereby given that meetings of the members and
creditors of Chiefund Investment Company Limited will be held at
8th Floor, Prince's Building, 10 Chater Road, Central, Hong Kong
on January 11, 2006 at 12:15 p.m. and 12:30 p.m. respectively.

Agenda

The Annual Meetings of Members and Creditors called pursuant to
Section 247 of the Companies Ordinance for the purposes of
laying before it an account the liquidator's act and dealings
and of the conduct of the winding during the preceding year.  

Forms of proxies for both meetings must be lodged at 27th Floor,
Alexandra House, 16-20 Chater Road, Central, Hong Kong. Members'
proxies should be ledged not less than 24 hours before the time
for holding the members' meeting. Creditor's proxies should be
lodged at the above address not later than 4:00 p.m. on the 10th
day of January 2006.

Dated this 23rd day of December 2005

GABRIEL CK TAM
JACKY CW MUK
Joint and Several Liquidators


CHINA MOTION: Share Trading Halted
----------------------------------
Trading in shares of China Motion Telecom International Limited
has been suspended with effect from 14:30 on December 23 pending
the issue of an announcement in relation to a possible disposal
of a controlling stake in the company by its controlling
shareholder, which is expected to take place on December 23.

The Group is engaged in the provision of a wide range of
telecommunications-related services specializing in cross-border
telecom services.

CONTACT:

China Motion Telecom International Limited
20/F, Tower II & III, Enterprise Square
9 Sheung Yuet Road, Kowloon Bay
Hong Kong  
Phone: 22092888  
Fax: 28279883  
Web site: http://www.chinamotion.com


CRESVALE FUTURES: Intends to Declare First, Final Dividend
----------------------------------------------------------
Notice is hereby given that a first and final dividend is
intended to be declared in Cresvale Futures Asia Limited. All
creditors of the company must prove their debts by January 9,
2006. A

ny creditor, who does not lodge a claim by that date, will be
excluded from the benefit of any distribution made before such
debts are proved and from objecting to such distribution.

Dated this 23rd day of December 2005

JOANNE OSWIN
Joint and Several Liquidator
Cresvale Far East Futures Asia Limited
(In Creditors' Voluntary Liquidation)
c/o Pricewaterhouse Coopers
22/F., Prince's Building
10 Chater Road
Central, Hong Kong.
Phone: (852) 2289 8888
Fax: (852) 2890 8345


GUANGDONG INTERNATIONAL: Creditors Meeting Fixed Jan. 11
--------------------------------------------------------
Notice is hereby given that meetings of the members and
creditors of Guangdong International Trust & Investment
Corporation Hong Kong (Holdings) Ltd will be held at 8th Floor,
Prince's Building, 10 Chater Road, Central, Hong Kong on January
11, 2006 at 9 a.m. and 9:30 a.m. respectively.

The Annual Meetings of Members and Creditors called pursuant to
Section 247 of the Companies Ordinance for the purposes of
laying before it an account the liquidator's act and dealings
and of the conduct of the winding during the preceding year.  

Forms of proxies for both meetings must be lodged at 27th Floor,
Alexandra House, 16-20 Chater Road, Central, Hong Kong. Members'
proxies should be ledged not less than 24 hours before the time
for holding the members' meeting. Creditor's proxies should be
lodged at the above address not later than 4:00 p.m. on the 10th
day of January 2006.

Dated this 23rd day of December 2005

GABRIEL CK TAM
JACKY CW MUK
Joint and Several Liquidators


GUANG XIN: Creditors Set to Meet to Hear Liquidator's Accounts
--------------------------------------------------------------
Notice is hereby given that meetings of the members and
creditors of Guang Xin Enterprises Limited will be held at 8th
Floor, Prince's Building, 10 Chater Road, Central, Hong Kong on
January 11, 2006 at 9:15 a.m. and 11 a.m. respectively.

Agenda

The Annual Meetings of Members and Creditors called pursuant to
Section 247 of the Companies Ordinance for the purposes of
laying before it an account the liquidator's act and dealings
and of the conduct of the winding during the preceding year.  

Forms of proxies for both meetings must be lodged at 27th Floor,
Alexandra House, 16-20 Chater Road, Central, Hong Kong. Members'
proxies should be ledged not less than 24 hours before the time
for holding the members' meeting. Creditor's proxies should be
lodged at the above address not later than 4:00 p.m. on the 10th
day of January 2006.

Dated this 23rd day of December 2005

GABRIEL CK TAM
JACKY CW MUK
Joint and Several Liquidators


HYCOMM WIRELESS: 1H05 Net Loss Narrows to HK$5.9 Mln
----------------------------------------------------
Hycomm Wireless Limited (0499) posted a net loss of $5.948
million for the six months ended September 30, compared to a net
loss of $8.778 million for the previous corresponding period,
Infocast News reports.

The loss per share (LPS) was $0.002. No interim dividend of
dollar per share was declared.

The Group is engaged in the property development for sale,
leasing of investment properties, and provision of property
management services, construction and decoration services and
property agency services and trading of communication products.

CONTACT:

Hycomm Wireless Limited
2/F., Hillier Bldg, 273-277
Queen's Rd., Central & 33 Hillier St.
Hong Kong
Phone: 27644918  
Fax: 23623234  


INH SERVICES: Members AGM Slated for Jan. 13
--------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), that an Annual General Meeting
(AGM) of the members of INH Services (HK) Limited will be held
at 20th Floor, Prince's Building, Central, Hong Kong on January
13, 2006 at 3 p.m. and will be followed by an annual meeting of
the creditors of the company to be held at the same place at 4
p.m. for the purpose of receiving an account of the liquidator's
act and dealings and of the conduct of the winding up of the
company during the preceding year.

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 20th Floor,
Prince's Building, Central, Hong Kong not less than 3:00 p.m. on
11 January 2006.

Dated this 23rd day of December 2005

JOHN JAMES TOOHEY
Joint and Several Liquidator


JILIN CHEMICAL: Private Offer Accept Time to End Dec. 31
--------------------------------------------------------
PetroChina announced that it has received no-action relief from
the staff of the U.S. Securities and Exchange Commission (SEC)
regarding its proposed privatization of Jilin Chemical
Industrial (0368), Infocast News reports.

The offeror further announced that, if the delisting resolutions
are passed at the H Share class meeting, and if the minimum
condition is satisfied, the H Share offer (at $2.8 per share)
will become unconditional.

The expiration of the initial offer period may occur at any time
on and from December 31, 2005, the date of the H Share class
meeting. The right of Jilin H shareholders and Jilin ADS holders
to withdraw their acceptances of the H Share offer will also
terminate at such time.

Jilin H Shareholders and Jilin ADS holders that wish to withdraw
their acceptances of the H Share offer should do so before
December 31 to ensure that their withdrawal is timely.

For a copy of the press release, go to
http://bankrupt.com/misc/tcrap_jilinchemical122605.pdf


ROHLIG CHINA: Creditors Meeting Fixed Jan. 23
---------------------------------------------
Notice is hereby given that the Creditors of Rohlig China
Limited, which is being voluntarily wound up, are required on or
before January 23, 2006 at noon to send their names, addresses
and descriptions, full particulars of their debts or claims, as
well as the names and addresses of their solicitors (if any) to
the undersigned, the Liquidators of the said Company.

If so required by notice in writing from the said liquidators to
prove their debts or claims at such time and place as shall be
specified in such notice, or in default thereof, they will
deemed to waive all of such debts or claims and the Liquidators
will be entitled seven days after the above date, to distribute
the funds available or any part thereof to the Members.

Dated this 23rd day of December 2005

KAM TIM HEI
FOK PUI LING LINDA
Joint and Several Liquidators
31/Floor, The Center
99 Queen's Road Central
Central, Hong Kong


SAM WOO: Results Swing to HK $2.6 Mln Profit
--------------------------------------------
Sam Woo Holdings Limited posted a net profit of HK$2.571 million
for the six months ended September 30, versus a net loss of
HK$29.084 million for the previous corresponding period,
Infocast News relates.

The earnings per share (EPS) were $0.0086. No interim dividend
was declared.  

The Group is an established and one of the leading contractors
in the Hong Kong foundation industry.

CONTACT:

Sam Woo Holdings Limited
Units 1310-13, 13th Floor
113 Argyle Street, Mongkok
Kowloon, Hong Kong  
Phone: 2332 0783   
Fax: 2385 0793  
Web site: http://www.samwoo-group.com/


SHANGHAI LAND: Brokers Jailed for Frustrating SFC Inquiries
-----------------------------------------------------------
Two foreign exchange brokers, charged by the Independent
Commission Against Corruption (ICAC), were on December 16 jailed
for their roles in frustrating an investigation by the
Securities and Futures Commission (SFC) in relation to market
manipulation of the trading in shares of publicly listed
Shanghai Land Holdings Limited.

Mr. Lam Kai-sing, 43, and Mr. Cheung Pak-yau, 46, were
respectively jailed for eight and six months by Judge Alan
Wright.

The defendants had earlier pleaded guilty to a total of three
counts of knowingly making a false statement in answering
questions put to them by the SFC in relation to an investigation
in respect of dealings in shares of Shanghai Land.

The offences took place between April and May, 2003.

In sentencing, the judge said the defendants' dishonest act was
premeditated.

The judge added that immediate custodial sentences were
necessary to bring about a deterrent effect and to safeguard
Hong Kong's reputation as an international financial centre.

The court heard that at the time of the offences, Mo Yuk-ping
was the general manager of Shanghai Land, while Chung Sau-ling
was the secretary of Mo.

The defendants came to know Mo through a common friend, Siu Yim-
wah.

In 2000, the defendants were approached by Siu, who requested
them to open securities accounts with a number of brokerage
firms in their names. The defendants were told that such
accounts were for Mo's use, and they agreed to the arrangement.

On September 30, 2002, with the defendants' knowledge,
subscription of 20 million and 10 million shares of Shanghai
Land, placed from Global Town Limited, the major shareholder of
the listed company, were effected in the name of Lam and Cheung
respectively.

The consideration for the above placement was respectively
$16,459,699 and $8,229,848.

In January 2003, the SFC commenced an investigation in
connection with the suspicious trading in the shares of Shanghai
Land, and the defendants were required to attend interviews by
the SFC.

A few days before the interview in April 2003, the defendants
separately met with solicitor Wong Pui-fai.

Wong told them to account for their dealings in Shanghai Land
shares as their own investment. Wong also instructed the
defendants to tell the SFC that they had borrowed money from
another person for subscribing the share placement.

During the SFC interviews, the defendants did as told by Wong
and made false statements to the interviewing officers.

Mo, Chung and Wong, also charged by the ICAC for their
respectively roles in the scam, were earlier convicted after
trial. Sentencing has been adjourned to January 16, 2006.

John Marry represented the prosecution, counsel on fiat,
assisted by ICAC officer Choi Shu-keung.    

CONTACT:

Shanghai Land Holdings Limited
10 Harcourt Road Central
11TH Floor, The Center Central
Hong Kong
Phone: +852 2846 9606
Fax: +852 2827 0715  
Web site: http://www.shanghailand.com

This is an ICAC press release.


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

BWL LIMITED: To Convene Board Meeting Jan 27
--------------------------------------------
BWL Ltd has informed Bombay Stock Exchange (BSE) that a meeting
of the Board of Directors of the Company will be held on January
27, 2006, inter alia, to consider the following:

1. To review performance of the Company and approve the Audited
Accounts for the 18 months financial year ended September 30,
2005.

2. To adopt Director's Report for the 18 months financial year
ended September 30, 2005.

3. To fix the date of Annual General Meeting and Book Closure
date, approve the notice for calling Annual General Meeting.

4. To approve unaudited financial results for the Quarter ended
December 31, 2005.

5. To approve the Re-appointment and remuneration of the Whole
Time Directors of the Company.

6. To consider the status before BIFR / AAIFR.

7. To discuss about the OTS proposal submitted to the Bankers /
IDBI.

CONTACT:

BWL Ltd
Industrial Area ,Post Box No.14
Bhilai 490026  
Madhya Pradesh  
Phone: 381301 382566 382567 382568  
Fax: 381086 392860  


ESCORTS LIMITED: BOD to Meet Dec. 30 for FY05 Results
-----------------------------------------------------
Escorts Ltd has informed BSE that a meeting of the Board of
Directors of the Company will be held on December 30, 2005, to
approve Audited Financial results for the 15 months financial
year ended September 30, 2005 (FY 05).

CONTACT:

Escorts Limited
11, Scindia House, Connaught Circus
New Delhi 110001  
Delhi  


MOSER BAER: CRISIL Rating Withdrawn
-----------------------------------
Moser Baer India Ltd advised that the Company has decided to
withdraw the credit rating assigned to it by CRISIL for its
short-term debt programme, as the Company is not planning to
avail short-term debts in the near future.

CONTACT:

Moser Baer
B, Okhla Industrial Estate, 43, Phase 3
New Delhi 110020  
Delhi  
Phone: 51635201 51635202 51635203 51635204/5/26911570/74  
Fax: 26911862   


THOMAS COOK: Shares Acquisition by Dubai Financial Approved
-----------------------------------------------------------
Thomas Cook (India) Ltd has advised that the Board of Directors
of the Company at its meeting held on December 23, 2005, have
pursuant to a request received from Dubai Financial (LLC) (a
subsidiary of Dubai Investment Group (LLC)), and after a
detailed consideration of such request, accorded their no
objection to the proposed acquisition by Dubai Financial (LLC)
and / or its affiliates, of the shares of the Company from the
public shareholders pursuant to the open offer under the
Securities and Exchange Board of India (Substantial Acquisition
of Shares and Takeovers) Regulations, 1997.

The open offer is necessitated by the Share Purchase Agreement
dated December 21, 2005 between Dubai Financial (LLC), TCIM Ltd
and Thomas Cook AG, for the acquisition of 100% of the equity
share capital of TCIM Ltd (which holds 60% of the equity share
capital of the Company). Such no-objection was granted in
support of Dubai Financial (LLC) application to the Foreign
Investment Promotion Board, Government of India, for approval to
acquire the shares of the Company under the open offer.

CONTACT:

Thomas Cook (India) Ltd
Thomas Cook Building, Dr D Naoroji Road,
Mumbai 400001  
Maharashtra  
Phone: 22048556 22048557 22048558   
Fax: 22871069 22872876  


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

INDOSAT: Appoints New President Director
----------------------------------------
Telecommunications firm PT Indosat Tbk revealed that it has
appointed Dr. Kaizad B. Heerjee as its deputy president
director, reports Antara News.

The Company's shareholders convened in an extraordinary general
meeting held on Dec. 22, 2005. Around 99 percent of the
shareholders who were present approved the appointment of Dr.
Heerjee as Deputy President of Indosat, replacing Mr. Ng Eng Ho.

According to Company President Director Hasnul Suhaimi, the
replacement was a routine task since Mr. Ng had resigned from
his position, and they hope that the  new structure would
strengthen management in improving performance to keep up with
competition.

CONTACT:

PT Indosat Tbk.
Jalan Medan Merdeka Barat No 21
Jakarta, 10110
Indonesia
Phone: 62 21 386 9614
Fax:   62 21 380 4045
Web site: http://www.indosat.com


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

FUJITSU LIMITED: Develops Palm Vein Authentication Technology
-------------------------------------------------------------
Fujitsu Limited has been awarded a contract by Naka city in
Ibaraki prefecture of Japan, to construct a system utilizing
Fujitsu's biometric palm vein authentication technology for the
city's new public library scheduled to open in October 2006, JCN
News reports. The library system is the world's first of its
kind.

Fujitsu's contactless palm vein authentication technology will
be implemented for the first time in a library system to provide
a lending service that eliminates the use of library
identification (ID) cards to check out books.

Naka city was established on January 21, 2005 with the founding
principle of creating harmony among nature, the culture of the
region, its people and cutting-edge science. The city seeks to
take advantage of the region's strengths in cutting-edge
technologies while respecting its cultural traditions as well as
its natural beauty.

Naka city chose to adopt Fujitsu's contactless palm vein
authentication technology for use in its new public library in
view of offering convenience and safety to library users.

Features of Fujitsu's contactless palm vein authentication
technology which were recognized and highly regarded by Naka
city include such features as: its high level of authentication
accuracy due to the complexity of vein patterns of the palm, the
extreme difficulty to duplicate palm vein patterns given that
the biometric information is internal to the body, and the fact
that the system is contactless and therefore hygienic for use in
public areas.

Users of the Naka City Public Library will be given the choice
of using an ID card with an embedded IC chip, or use of palm
vein authentication system for identity verification. Users who
select palm vein authentication will be able to check out
library materials or use its audio-visual section without using
ID cards. Users simply suspend their hand above the
authentication device and their palm vein pattern is compared to
their pre-registered pattern for verification.

Fujitsu intends to adapt its contactless palm vein
authentication technology for use in the security, financial,
heath care, government and public sector fields as it expands
its business on a global basis.

CONTACT:

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


SANYO ELECTRIC: Enters Indian Market
------------------------------------
Sanyo Electric Co. Limited and BPL Limited formally announced
their new joint venture company Sanyo BPL Private Ltd, News
Today India reports.

Both BPL and Sanyo will be equal equity partners in this joint
venture started with the strategic intent to create one of
India's leading and most technologically advanced consumer
electronics company.

BPL will transfer its existing business undertaking to this
joint venture, consisting of BPL's color TV business including
manufacturing, sales, service, marketing and distribution
infrastructure.

Sanyo on its part will bring in its cutting-edge technological
know-how, the benefit of established R&D and globally proven
expertise in the consumer electronics business. On signing this
partnership, Ajit G Nambiar.

Chairman and CEO of Sanyo BPL said, ".we believe that Sanyo and
BPL, in tandem, will create an impressive platform of global,
technologically advanced products for the Indian consumer. The
rapid growth in the CTV market in India offers a great
opportunity to Sanyo BPL. The BPL with its existing brand equity
coupled with sales, distribution, marketing, service and
manufacturing infrastructure, can greatly leverage on Sanyo's
state of art technologies and R&D capabilities to enhance the
product offering."

CONTACT:

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


SEIBU DEPARTMENT: In Final Merger Talks with Ito-Yokado
-------------------------------------------------------
The holding firms of supermarket chain Ito-Yokado Co. and Seibu
Department Stores Ltd. are in the final phase of merger talks,
Japan Times reports.

Seven and I Holdings, the holding company of Ito-Yokado and
convenience store operator Seven-Eleven Japan, plans to acquire
65 percent of shares in Millennium Retailing, which operates the
Seibu and Sogo department store chains.

The two groups will consider fully integrating their operations
in the future, NHK said. Their combined annual sales are
estimated to reach the equivalent of some US$60 billions.

CONTACT:

Seibu Department Stores Ltd.
1-28-1, Minami-ikebukuro
Toshima-ku
Tokyo 171-8569, Japan
Phone: +81-3-3989-0111
Fax: +81-3-6213-7139


SONY CORPORATION: Names Tim Schaaff as SVP
------------------------------------------
Sony Corporation of America announced that Tim Schaaff has been
appointed to the newly created position of Senior Vice President
of Software Development, effective immediately. Mr. Schaaff
reports to Keiji Kimura, EVP and Officer in Charge of Technology
Strategy of Sony Corporation.

Mr. Schaaff joins Sony from Apple Computer, where he held
various positions including VP of Interactive Media. His many
contributions at Apple included managing the development and
maintenance of Apple's QuickTime platform. Prior to working at
Apple, Mr. Schaaff worked on the development of the Synclavier
music synthesizer at New England Digital.

"Software is obviously a critical element in creating champion
Sony products, and in increasing the value of Sony devices and
services by ensuring interoperability," said Sir Howard
Stringer, Chairman and CEO of Sony Corporation. "Tim's expertise
is a vital addition to the Sony team, and he will be responsible
for developing and deploying a unified, intuitive Sony 'look and
feel' to user interfaces and functionality across our entire
product line."

"This is a very exciting time to work for Sony," said Mr.
Schaaff. "Under the new management's initiative Sony is
transforming itself by strengthening horizontal coordination and
collaboration, including software development. I look forward to
making contributions to increase the value of Sony's products."

"Having a consistent and scaleable software platform for our
devices and services is important in today's world," said Mr.
Kimura. "Tim's goal is to unify previously dispersed functions
into a single organization that provides important platform
support for all of Sony."

Mr. Schaaff will be based in San Jose and will have global
responsibility for a newly created team that will include
technologists and business planners who will work with Sony's
business units, design centers, product planning and
engineering, as well as corporate centers for standards,
intellectual property, licensing and business development.

CONTACT:

Sony Corporation
7-35 Kitashinagawa 6-Chome
Shinagawa-Ku 141-0001, Tokyo 141-0001
JAPAN  
Phone: +81 3 5448 2111
Fax: +81 3 5448 2244  
Web site: http://www.world.sony.com/

This is a company press release.


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

LG CARD: Projects Higher-than-expected Profit this Year
-------------------------------------------------------
LG Card Co. may surpass its latest recurring profit target of
KRW1.3 trillion this year, Reuters reveals, citing an executive
at Korea Development Bank (KDB) its main creditor said on
Thursday.

The sale process of a majority stake in the card issuer has
commenced recently and is expected to draw keen interest from
local bidders.  Citigroup is also considered as a possible
suitor.

"As far as I know, LG Card is likely to earn KRW1.4 trillion
(recurring profit) this year," the KDB executive, who declined
to be identified, said by telephone.

Compared to the previous forecast of KRW1.3 trillion given by
another KDB executive Laah Chong-gyu, the figure is considered
higher.

LG Card declined to comment on the profit projection.

Shinhan Financial Group have expressed a team up with a foreign
partner to buy the credit card firm, with nearly 10 million card
holders. Third-ranked Woori Financial Group and Citigroup have
not ruled out a possible bid.

KDB Governor Kim Chang-lok dismissed reports that local bidders
would be favored in the bidding. He said that price would be the
key factor when selecting the bidder.

LG Card is majority owned by local creditors led by state-run
Korea Development Bank (KDB) after two joint rescue packages by
creditors and former parent LG Group since 2004.

JP Morgan was picked as the lead manager for the deal and
creditors were selecting a legal adviser and an accounting firm,
Kim said.

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
===============

ANCOM BERHAD: Buys Back Ordinary Shares
---------------------------------------
Ancom Berhad issued to Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:
   
Date of buy back: December 21, 2005

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

Total number of shares purchased (units): 54,000

Minimum price paid for each share purchased (MYR): 0.655

Maximum price paid for each share purchased (MYR): 0.670

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 54,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 8,886,403

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

CONTACT:

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


ARTWRIGHT HOLDINGS: SC Grants Extension of Time for Settlement
--------------------------------------------------------------
Artwright Holdings Berhad (AHB) issued to Bursa Malaysia
Securities Berhad details of the proposed settlement of
shortfall in profit guarantee (Proposed Settlement).

The company refers to the announcement made on December 15, 2004
in relation to the approval of the Securities Commission (SC)
for the Proposed Settlement.

On behalf of the Board of Directors of AHB, Southern Investment
Bank Berhad (SIBB) advised that the SC has, vide its letter
dated December 20, 2005 which was received on December 21, 2005,
approved the Company's application for an extension of time
until June 7, 2006 to complete the Proposed Settlement subject
to SIBB providing the SC a monthly status update on the
implementation of the Proposed Settlement until the completion
of the Proposed Settlement.

This announcement is dated 21 December 2005.


ASIAN PAC: To Undertake Second Redemption of RCSLS
--------------------------------------------------
Notice is hereby given that pursuant to the terms and conditions
stipulated in the trust deed dated December 19, 2000,
supplemental trust deed (amendment) dated April 15, 2003 (Trust
Deeds) and the Second Supplemental Trust Deed dated August 23,
2005 constituting all the RCSLS, Asian Pac Holdings Berhad
wishes to undertake a second redemption of up to MYR26,000,000
nominal value of RCSLS on a proportionate basis (representing
MYR10.00 for every MYR100.00 nominal value of RCSLS held) from
its outstanding MYR259,162,324 nominal value of RCSLS as at
December 15, 2005 (Redemption).

All RCSLS holders are therefore advised to carefully read the
contents of this Notice and note the procedures as set out
below:

(1) Introduction

Asianpac had on June 7, 2005 announced a redemption of up to
MYR28,810,000 nominal value of RCSLS (representing MYR10.00 for
every MYR100.00 nominal value of RCSLS held). Subsequent to the
said redemption, the outstanding RCSLS was MYR259,162,324.

On June 24, 2005, the Securities Commission has given its
approval vide its letter to Hwang-DBS Securities Berhad to
extend the tenure and conversion period of the RCSLS from
December 22, 2005 up to December 21, 2007 (Extension). The
Extension had earlier been approved by the holders of RCSLS on
May 11, 2005.

Subsequent to the approvals, a Second Supplemental Trust Deed
was executed on August 23, 2005 between Asianpac and Universal
Trustee (Malaysia) Berhad, being the Trustee for the RCSLS, to
set out, inter alia, the Extension and the provisions relating
to the redemption of the outstanding RCSLS.

Schedule 2 of the Second Supplemental Trust Deed, states that,
inter alia, the Company, during the extended period, may,
between the fifth (5th) Anniversary of the issue date (December
22, 2005) to the date immediately preceding the sixth (6th)
Anniversary of the issue date (December 21, 2006) redeem not
less than MYR40,000,000 nominal value of the RCSLS (inclusive of
redemption that has been made by the Company prior to Fifth
Anniversary).

Accordingly, the Company will now redeem up to MYR26,000,000
nominal value of RCSLS on a proportionate basis (representing
MYR10.00 for every MYR100.00 nominal value of RCSLS held).
Please note that subsequent to this Redemption, the number of
remaining RCSLS held by the holders shall be correspondingly
reduced.

(2) Notice of Books Closure

In view of the Redemption of the RCSLS, Asianpac has served
notice to the RCSLS holders by way of an announcement to Bursa
Securities on December 21, 2005 as well as advertisements in The
Sun and New Straits Times newspapers on December 22, 2005 that
RCSLS holders whose names appear in the Record of Depositors at
the close of business at 5:00 p.m. on January 13, 2006 shall be
entitled to the Redemption of the RCSLS on a proportionate
basis.

The entitlement of RCSLS holders to the Redemption shall only be
in respect of the following:

(i) RCSLS in Asianpac credited into the depositor's securities
account before 4:00 p.m. on January 13, 2006 in respect of
transfers; and

(ii) RCSLS in Asianpac bought on a cum-entitlement basis
according to the Rules of Bursa Securities.

As Asianpac is a prescribed counter under the Central Depository
System pursuant to Section 14(1) of the Securities Industry
(Central Depositories) Act, 1991, all dealings in the securities
of Asianpac, including the RCSLS, are and will be carried out in
accordance with the said Act and the Rules of Bursa Malaysia
Depository Sdn Bhd. All RCSLS in Asianpac have been deposited
into the respective CDS accounts of the RCSLS holders and there
are no RCSLS in Asianpac which are exempted from mandatory
deposit.

(3) Suspension of Trading and Quotation of RCSLS on the Official
List of Bursa Securities

The trading of the RCSLS will be suspended with effect from 9:00
a.m. on January 6, 2006, being three (3) clear market days
immediately before the books closure date. Thus, the last day
and time of trading will be 5:00 p.m. on January 5, 2005. The
suspension of trading is to facilitate the Redemption and
thereafter an application for re-quotation of the RCSLS shall be
made on January 19, 2005.

(4) Suspension of conversion of RCSLS

The conversion of the RCSLS will also be suspended with effect
from 9:00 a.m. on January 6, 2006, being three (3) clear market
days immediately before the books closure date. Thus, the last
day and time of conversion will be 5:00 p.m. on January 5, 2005.
The suspension of conversion is to facilitate the Redemption and
the right of conversion shall resume on January 16, 2006.

(5) Notice of Payment

The Redemption will be effected by way of cheque payment, which
will be made on or before January 19, 2006. It will be
dispatched to the entitled RCSLS holders at the address
according to the Record of Depositors by ordinary post at the
risk of the RCSLS holders.

CONTACT:

Asian Pac Holdings Berhad   
11th Floor, Menara SMI, No.6,
Lorong P. Ramlee,
Kuala Lumpur Wilayah
Persekutuan 50250
Malaysia
Telephone: 03-20705152   
Fax: 03-20705195


AYER HITAM: Shareholders OK Resolutions at AGM
----------------------------------------------
The Board of Directors of Ayer Hitam Tin Dredging Malaysia
Berhad (AHTIN) advised that the shareholders of AHTIN have
approved all the resolutions set out in the Notice of AGM dated
November 29, 2005 at the AGM.

This announcement is dated 21 December 2005.

CONTACT:

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


LION CORPORATION: Lenders Signal Approval to Proposals
------------------------------------------------------
Lion Corporation Berhad (LCB) issued to Bursa Malaysia
Securities Berhad details of the following proposals:

(i) Proposed conditional takeover offer to acquire the remaining
71,522,971 ordinary shares of MYR1.00 each in Amalgamated
Containers Berhad (ACB) representing approximately 95.73 percent
of ACB's issued and paid-up share capital not already owned by
LCB and its wholly owned subsidiary, Limpahjaya Sdn Bhd
(Limpahjaya), to be settled by the issue of two (2) new ordinary
shares of MYR1.00 each in LCB at an issue price of MYR1.31 for
every three (3) existing ordinary shares of MYR1.00 each held in
ACB; and

(ii) The proposed acquisition by LCB, through Lion General
Trading & Marketing (S) Pte Ltd, a wholly owned subsidiary of
LCB, of the entire issued and paid-up share capital of Lion
Plate Mills Sdn Bhd for a purchase consideration of
MYR70,000,000 to be satisfied via the issuance of 53,435,115
ordinary shares of MYR1.00 each in LCB at an issue price of
MYR1.31 each (the Proposed LPM Acquisition).

(The Offer and the Proposed LPM Acquisition are collectively
referred to as the Proposals)

Further to the announcements dated November 25, 2004, January
25, 2005, April 20, 2005, July 8, 2005, October 4, 2005 and
November 23, 2005, K&N Kenanga Bhd, on behalf of the Board of
Directors of LCB, advised that LCB had on December 21, 2005
obtained the consent of the LCB Lenders (as defined in the
Company's announcement dated November 25, 2004) for the
Proposals.

This announcement is dated 21 December 2005.

CONTACT:

Lion Corporation Berhad
165 Jalan Ampang
50450 Kuala Lumpur, Kuala Lumpur 50450
Malaysia
Telephone: +60 3 2162 2155 / +60 3 2162 3448


MAGNUM CORPORATION: Issues New Shares for Listing, Quotation
------------------------------------------------------------
Magnum Corporation Berhad advised that its additional 159,000
new ordinary shares of MYR0.50 each issued pursuant to the
Employees' Share Option Scheme will be granted listing and
quotation by Bursa Malaysia Securities Berhad with effect from
9:00 a.m., Friday, December 23, 2005.

CONTACT:

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


MAGNUM CORPORATION: Releases Shares Buy Back Notice
---------------------------------------------------
Magnum Corporation Berhad furnished Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:
   
Date of buy back: December 21, 2005

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

Total number of shares purchased (units): 428,700

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

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

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 428,700

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

Cumulative net outstanding treasury shares as at to-date
(units): 88,105,100

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

MAXIS COMMUNICATIONS: Acquires Shares in Global Communication
-------------------------------------------------------------
Maxis Communications Berhad (Maxis) issued to Bursa Malaysia
Securities Berhad details of the acquisition of a new
subsidiary.

(1) Introduction

The Board of Directors of Maxis advised that the Company has on
December 20, 2005, acquired the entire equity share capital
comprising two shares of USD1.00 each in Global Communication
Services Holdings Ltd (GCS), a company incorporated in
Mauritius, for a cash consideration of US$75,215.00 (inclusive
of administrative costs/charges) from Mezzanine Equities Sdn Bhd
(MESB), a wholly owned subsidiary of Usaha Tegas Sdn Bhd (UTSB)
(the Acquisition).

GCS is now a wholly owned subsidiary of Maxis.

The Acquisition is also a related party transaction under
Paragraph 10.08 of the Listing Requirements of Bursa Malaysia
Securities Berhad (Bursa Securities). MESB is a related party of
Maxis by virtue of it being a person connected to UTSB, Pacific
States Investment (PSIL), Excorp Holdings N.V (Excorp) and
PanOcean Management Limited (PanOcean), all of whom are major
shareholders of Maxis, as detailed in Part 4 of this
Announcement.

(2) Details of the parties to the acquisition

Maxis was incorporated in Malaysia under the Companies Act, 1965
on December 19, 1986 as a private limited company. Maxis was
converted to a public limited company on September 5, 1997. The
principal activity of Maxis is the holder of investments and a
provider of services to its subsidiaries.

MESB was incorporated in Malaysia under the Companies Act, 1965
on 21 August 1991 as a private limited company. The principal
activity of MESB is investment holding.

GCS was incorporated as a private limited company in Mauritius
under the Mauritius Companies Act, 2001 (as amended) on March
14, 1995. The authorized share capital of GCS as at December 20,
2005 is US$100,000 divided into 100,000 shares of USD1.00 each
while its issued and paid up capital is US$2.00 divided into 2
shares of USD1.00 each. GCS became a wholly owned subsidiary of
MESB on December 18, 1996. GCS has not commenced business since
its incorporation.

(3) Rationale

GCS is meant for future use by Maxis.

(4) Directors' and major shareholders' interests

The details of the interests of the Directors and Major
Shareholders of Maxis and Persons Connected to them and the
nature of their relationships to the Parties to the Acquisition
are attached herewith as Appendix I.

To view Appendix I, go to
http://bankrupt.com/misc/MaxisCommunications122205.pdf

Save as disclosed above and as far as the Directors are aware,
none of the other Directors of Maxis and/or Major Shareholders
and/or Persons Connected to them has any interest, direct or
indirect, in the Acquisition.

(5) Effects on share capital, substantial shareholders'
shareholdings, earnings and consolidated net assets of Maxis

The Acquisition will not have any effect on the share capital of
Maxis or on the substantial shareholders' shareholdings in
Maxis.

The Acquisition is also not expected to have a material effect
on the earnings per share of Maxis and the consolidated net
assets of Maxis for the financial year ending December 31, 2005.

(6) Statement by the Board Of Directors

The Board of Directors of Maxis (with the exception of En.
Augustus Ralph Marshall, En. Tan Poh Ching and En. Chan Chee
Beng who are deemed interested in the Acquisition and who have
abstained from all Board deliberations and voting in connection
therewith) have taken into consideration all aspects of the
Acquisition and are of the opinion that the Acquisition is in
the best interests of Maxis and its subsidiaries.

(7) Approvals Required

The Acquisition does not require the approval of the
shareholders of Maxis or the approvals of any other relevant
regulatory body.

This announcement is dated 21 December 2005

CONTACT:

Maxis Communications Bhd
Level 18, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
Malaysia
Phone: 03-23307000
Fax: 03-2330059


MBF HOLDINGS: Unit Forges Loan Deal with Corali
-----------------------------------------------
MBF Holdings Berhad (MBfH) furnished Bursa Malaysia Securities
Berhad details of the loan agreement between Corali Securities
Limited (Corali) and MBf Asia Capital Corporation Holdings
Limited (MACCH).

The Board of Directors of MBfH advised that the Company's wholly
owned subsidiary in Hong Kong, MACCH had entered into a loan
agreement with Corali for a loan of US$0.3 million (equivalent
to approximately MYR1.1 million based on the exchange rate of
USD1: MYR3.375).

Information on Corali

Corali is a company incorporated in the British Virgin Islands
whose shares are 100 percent beneficially owned by Datuk Dr
Ninian Mogan Lourdenadin, who is also the Chief Executive
Officer and Executive Director of MBfH. The principal activities
of Corali is the provision of management services and operations
expertise.

Information on MACCH

MACCH was incorporated in Hong Kong on September 15, 1992 and
its principal activity is investment holding. The present
authorized share capital is HK$78,000,000 comprising ordinary
shares of HK$10 each. Its paid-up capital is 5,047,345 ordinary
shares amounting to HK$50,473,450.

Rationale for Transaction

The loan is to fund the working capital of MACCH.

Information on the Transaction

This is an unsecured loan with interest at five percent per
annum and is payable on demand.

Approvals Required

The loan arrangement is not subject to the approval of the
shareholders of MBfH or any regulatory authorities.

Directors' and Substantial Shareholders' Interest

Datuk Dr Ninian Mogan Lourdenadin has declared his interest in
the above transaction by virtue of his directorship and
shareholdings in MBfH, the ultimate holding company of MACCH and
deemed interest in Corali. His current deemed interest in the
equity of MBfH is about 31.45 percent.

Save as disclosed, none of the other Directors, substantial
shareholders and persons connected with the Directors and/or
substantial shareholders of MBfH have any interest, direct or
indirect in the above transaction.

Financial Effect of the Transaction

The transaction does not have any material impact on the
financial performance of the MBfH Group for the year ending
December 31, 2005.

Directors' Recommendation

The Board of Directors having considered all the relevant
factors, is of the opinion that the above transaction is in the
ordinary course of business and is on terms not more favourable
to the related party than those generally available to the
public.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad
Ding Lien Bing
Company Secretary
Date: 21 December 2005


MEDIA PRIMA: Bourse Lists, Quotes Additional Shares
---------------------------------------------------
Media Prima Berhad advised that its additional 600,000 new
ordinary shares of MYR1.00 each arising from the exercise of
600,000 Warrants 2003/2008 will be granted listing and quotation
with effect from 9:00 a.m., Friday, December 23, 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


PDZ HOLDINGS: All Resolutions Approved at AGM
---------------------------------------------
The Board of Directors of PDZ Holdings Bhd informed Bursa
Malaysia Securities Berhad that all the resolutions tabled as
ordinary business at the 10th AGM of the Company held on
December 21, 2005 had been approved by the shareholders present
and voting thereat in person and by proxy.


PELIKAN INTERNATIONAL: New Shares Up for Listing, Quotation
-----------------------------------------------------------
Pelikan International Corporation Berhad advised that its
additional 2,003,996 new ordinary shares of MYR1.00 each issued
pursuant to the

(i) conversion of MYR3,003,000 nominal value of three percent
five-year Irredeemable Convertible Unsecured Loan Stocks
2005/2010 (ICULS) into 2,001,998 new ordinary shares of MYR1.00
each; and

(ii) conversion of MYR3,000 nominal value of three percent five-
year Redeemable Convertible Unsecured Loan Stocks 2005/2010
(RCULS) into 1,998 new ordinary shares of MYR1.00 each

will be granted listing and quotation with effect from 9:00
a.m., Friday, December 23, 2005.


PUNCAK NIAGA: Obtains SC OK to Implement Resolutions Passed
-----------------------------------------------------------
Puncak Niaga Holdings Berhad submitted to Bursa Malaysia
Securities Berhad details of the revision of the terms and
conditions of the MYR1,020 million Islamic Debt Securities
issuance facility under the financing concept of Al-Bai'
Bithaman Ajil of Puncak Niaga (M) Sdn Bhd (187511-V) (BaIDs)

The company advised that its wholly owned subsidiary, Puncak
Niaga (M) Sdn Bhd (PNSB), has obtained the approval of the
Securities Commission dated December 19, 2005 to implement the
resolution passed by the BaIDs holders of PNSB's existing
MYR1,020 million Al-Bai' Bithaman Ajil Bonds (BaIDs) at the
BaIDs holders meeting held on October 19, 2005.

The approval is in respect of the proposed revision to the terms
and conditions of the BaIDs (Revised Terms):

For more information, go to
http://bankrupt.com/misc/PuncakNiagaHoldigs122005.doc

CONTACT:

Puncak Niaga Holdings Berhad
Suite 1401-1406, 14th Floor
Plaza See Hoy Chan
Jalan Raja Chulan
50200 Kuala Lumpur
Phone: 03-20318648
Fax: 03-20784386
Web site: http://www.puncakniaga.com.my


SBBS CONSORTIUM: Applies for Extension of Court Order
-----------------------------------------------------
SBBS Consortium Berhad issued to Bursa Malaysia Securities
Berhad an update to the extension of Restraining and Stay Order
for the company and its wholly owned subsidiary companies.

The company refers to the last announcement made on September
21, 2005.

The Board of Directors of SBBS Consortium Berhad advised that
the Company had on December 19, 2005 filed an application to the
Kuala Lumpur High Court to extend the Restraining and Stay Order
granted by the High Court on September 20, 2005.

The aforesaid application is pending affixing of a hearing date
by the High Court.

CONTACT:

SBBS Consortium Berhad   
No. 1 - 4, Jalan 1/114,
Kuchai Business Centre, Jalan Kuchai Lama,
Kuala Lumpur Wilayah Persekutuan 58200
Malaysia
Telephone: 03-79825188   
Fax: 03-79813551


SOUTHERN BANK: Undertakes Warrant Exercise
------------------------------------------
Southern Bank Berhad advised that its additional 2,149,936 new
ordinary shares of MYR1.00 each issued pursuant to the exercise
of 1,143,011 Warrants 1996/2006 (Local Warrants) & exercise of
1,006,925 Warrants 1996/2006 (Foreign Warrants) will be granted
listing and quotation with effect from 9:00 a.m., Tuesday,
December 27, 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


TA ENTERPRISE: Dormant Unit Struck Off from Registry
----------------------------------------------------
The Board of Directors of TA Enterprise Berhad (TAE) advised
Bursa Malaysia Securities Berhad that Kuching Riverfront Sdn Bhd
(KR), a company ultimately wholly owned by TAE, had on November
29, 2004 applied to the Companies Commission of Malaysia for the
striking off of KR.

KR is currently a dormant company. The paid up capital of KR is
MYR2.00 comprising of two ordinary shares of MYR1.00 each.

TAE had on December 16, 2005 received a Notice on the striking
off of KR pursuant to Section 308(4) of the Companies Act, 1965.

The striking off of KR has no material financial and operational
effect on TAE.

This announcement is dated 16 December 2005.

CONTACT:

TA Enterprise Berhad
No 22 Jalan P Ramlee
50250 Kuala Lumpur, 50250
Malaysia
Telephone: +60 3 2072 1277 /+60 3 2031 6608


TENAGA NASIONAL: Issues Additional Shares
-----------------------------------------
Tenaga Nasional Bhd advised that its additional 249,900 new
ordinary shares of RM1.00 each issued pursuant to the Employees'
Share Option Scheme will be granted listing and quotation by
Bursa Malaysia Securities Berhad with effect from 9:00 a.m.,
Friday, December 23, 2005.

CONTACT:

Tenaga Nasional Berhad
129 Jalan Bangsar
59200 Kuala Lumpur, 59200
Malaysia
Telephone: +60 3 2296 5566 / +60 3 2283 3686


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

APEX MINING: Board OKs Liabilities, Deferred Costs Write-offs
-------------------------------------------------------------
On Dec. 23, 2005, the Board of Directors of Apex Mining Company
Inc. have met and approved the following resolutions:

1. To write off non-moving liabilities worth Php42.3 million
2. To write off net deferred costs of Php70.6 million.

The Board also noted the transfer of all company's liabilities
to Puyat, Jacinto and Santos.

CONTACT:

Apex Mining Company Inc.
6/F Manila Bank Building
6772 Ayala Avenue, Makati City 1226
Telephone:  810-0882; 892-6504
Fax: 810-0887


ABS-CBN BROADCASTING: Faces Illegal Dismissal Charges
-----------------------------------------------------
ABS-CBN Broadcasting Corp. is facing illegal dismissal
complaints filed by nine former employees, BusinessWorld
reveals.

The group, led by ABS-CBN News Group's former stalwart Generoso
D. Orejana, the group trooped to the National Labor Relations
Commission (NLRC) to compel management to reinstate them as well
as pay moral and exemplary damages.

Other complainants were Rowena Mae M. Orejana, Jose Mario
Fuderanan, Ana Marie Fuderanan, Norma Susanna D. Cueva, Wilfredo
C. Perez, Jr., Ma. Salome N. Salazar, Michael M. Sadim, and
Enrico Guino Tuazon. They were among about 300 employees
terminated by management earlier this year.

Named as respondents were ABS-CBN President Luis F. Alejandro,
human resources (HR) vice-president Mark Nepomuceno, HR head
Philbert Berba, radio division head and ANC officer-in-charge
Peter Musngi and news affairs chief Maria Ressa.

Other former ABS-CBN employees Joey Falcon, Aisa Reneva Cruz,
Willie Delgado, Lyle Pareno, Bella Ong, Lita Montilla and the
firm's seven-man Engineering Group, had filed similar cases at
the NLRC.

Although the network has explained that the retrenching was done
beacuse of redundancies, the group believes ABS-CBN's move was
merely a scheme to ease them out of the job.

ABS-CBN officials declined to comment pending receipt of the
group's complaint, as advised by their firm's legal officers.

CONTACT:

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


BACNOTAN CONSOLIDATED: Notes Changes in Shareholdings
-----------------------------------------------------
Bacnotan Consolidated Industries Inc. furnished the Philippine
Stock Exchange a copy of SEC Form 23-B (Statement of Changes in
beneficial Owenerhip of Securities) of Mr. Magdaleno B.
Albaraccin, Jr., Director/Senior Executive Vice President,
pursuant to Section 13 of the Revised Disclosure Rules
pertaining to "Disclosure on Transactions of Directors and
principal Officer in the Issuer's Securities."

A copy of the said document shall be made available for
downloading free of charge at the PSE web site:
http://pse.com.ph(under Listed Companies).

CONTACT:

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


MANILA ELECTRIC: Phase IV-A of Refund Process Kicks Off January
---------------------------------------------------------------
The Manila Electric Company (Meralco) is scheduled to begin
phase IV-A of its refund process next month, The Philippine Star
has learned.

The power utility firm said it is currently processing the first
batch of applications for post-dated checks, which will be
reflected in the January billing period of the affected
customers.

Meralco has completed the delivery of letters of notice to phase
IV-A customers.

Phase IV-A is the first part of the last phase in the refund
process for Meralco's big commercial and industrial customers.
This last phase is expected to amount to Php18 billion.

The firm also started the delivery of notices to phase IV-B
customers.

CONTACT:

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


MAYNILAD WATER: Accused of 'Inefficient Service'
------------------------------------------------
Embattled water concessionaire Maynilad Water Services Inc. is
in hot water for alleged inefficient water service, according to
The Philippine Daily Inquirer.

A legislator at the House of Representatives filed House
Resolution 1034 seeking an investigation into a possible
violation by Maynilad and the negligence of the Metropolitan
Waterworks and Sewerage System (MWSS) in monitoring the
compliance of the water firm to service obligations provided
under the Concession Agreement entered into by both parties.

Caloocan Representative Oscar Malapitan made the move in
response to a number of complaints from water customers,
including his constituents in Bagong Barrio.

Maynilad customers claimed there have been many instances of
severe lack or sometimes absence of water in their respective
areas since Maynilad took over from MWSS in 1997.

Despite this, Cong. Malapitan said the MWSS had not taken
appropriate actions to protect the interest of the public.

Cong. Malapitan said it was about time the Congress look into
the matter to address the complaints of the consumers.

CONTACT:

Maynilad Water Services Inc.
G/F MWSI Building, Katipunan Road
MWSS Compound, Balara
Quezon City
Philippines


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

ALADDIN SALES: Set to Declare Dividend
--------------------------------------
Aladdin Sales & Marketing Pte Limited posted a notice of
intended dividend at the Government Gazette, Electronic Edition
with the following details:

Name of Company: Aladdin Sales & Marketing Pte Limited
Court: Singapore High Court
Number of Matter: Companies Winding Up No. 255 of 1992
Last day for receiving proofs: Jan. 6, 2005
Name  & address of Liquidator: Ramasamy Subramaniam Iyer
Goh Thien Phong
C/o PricewaterhouseCoopers
8 Cross Street
#17-00 PWC Building
Singapore 048424

Dated this 23rd day of December 2005


ELEXT PCB: To Distribute Dividend to Creditors
----------------------------------------------
Elext Pcb Manufacturing & Engineering Pte Limited posted a
notice of intended dividend at the Government Gazette,
Electronic Edition with the following details:

Name of Company: Elext Pcb Manufacturing & Engineering Pte
Limited
Court: Singapore High Court
Number of Matter: Companies Winding Up No. 276 of 1995
Last day for receiving proofs: Jan. 6, 2005
Name & Address of Liquidator : The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated : 23rd Day of December 2005

Sunari Bin Kateni
Assistant Official Receiver


ELOGICITY PTE: Requires Creditors to Submit Debt Claims
-------------------------------------------------------
Notice is hereby given that the creditors of Elogicity Pte
Limited, which is being wound up voluntarily, are required on or
before Jan. 23, 2006 to send in their names and addresses and
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to the Company
Liquidator.

If so required by written notice by the said Liquidator are, by
their solicitors or personally, to come in 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 23rd day of December 2005

Tan Suah Pin
Liquidator
133 New Bridge Road
#25-08 Chinatown Point
Singapore 059413


INFORMATICS HOLDINGS: Borrows SGD1.5-Mln from Stakeholder
---------------------------------------------------------
Informatics Holdings Limited announced that on Dec. 7, 2005, the
Company obtained a SGD1.5 million short-term unsecured loan from
controlling stakeholder Berjaya Land Berhad.

The loan carries an interest rate of 6% per annum and is due for
repayment by Feb. 28, 2006. The Company's offer information
statement released last Dec. 14, 2005 states that it would repay
the interest on the loan from the proceeds of a share sale (to
be conducted). Interest payable arising from the loan is
expected to be less than SGD100,000 in the current financial
year. Accordingly, the loan is an interested person transaction
within the meaning of Chapter 9 of the Listing Manual of the
Singapore Exchange Securities Trading Limited.

The Company has an existing unsecured interest-bearing loan
facility of up to a principal amount of SGD7 million granted by
Berjaya Leisure (Cayman) Limited (BLCL) pursuant to a loan
agreement dated March 22, 2005 (as amended on Sept. 6, 2005).

Informatics Holdings Limited intends to utilise the loan for
working capital
purposes.

The Company's Audit Committee reviewed the loan, and is
satisfied that the terms of the loan are on normal commercial
terms and not prejudicial to the interests of the Company and
its minority shareholders.

By Order of the Board

Lau Yang Hin, Simon
Company Secretary

CONTACT:

Informatics Holdings Limited
Informatics Campus
12 Science Centre Road
Singapore 609080
Phone: 65 6562 5625
Fax:   65 6565 1371
Web site: http://www.informaticsgroup.com


LINDETEVES-JACOBERG: Executes Proposed Restructuring
----------------------------------------------------
Lindeteves-Jacoberg Limited refers to its proposed debt
restructuring exercise by way of a scheme arrangement dated Aug.
27, 2005.

The Compant announces that the conditions precedent to such
scheme of arrangement have been fulfilled and/or waived, and the
scheme became effective on Dec. 22, 2005.

The Company will make further requisite announcements on the
matter at the appropriate time.

CONTACT:

Lindeteves-Jacoberg Limited
238A Thomson Road
Singapore 307684
Phone: 65 6383 4248
Fax: 65 6383 4068


SUPPLEMENTS WORLD: U.S. Creditor Seeks to Wind Up Firm
------------------------------------------------------
Notice is hereby given that U.S.-based Sunkist Growers, Inc., a
creditor of Supplements World Pte Limited, filed a winding up
petition against the Company with the Singapore High Court on
Dec. 6, 2005.

The Petition is directed to be heard before the Court sitting at
the Singapore High Court 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 Petition may appear at the
time of hearing by himself or his Counsel for that purpose.

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

The Petitioner's address is at 14130 Riverside Drive, Sherman
Oaks, California 91423, United States of America.

The Petitioner's solicitors are Engelin Teh Practice LLC of No.
10 Collyer Quay, #23-01 Ocean Building, Singapore 049315.

Messrs Engelin Teh Practice LLC
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to solicitors Engelin Teh Practice
LLC 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 solicitors not later than 12:00 p.m. of Jan. 19, 2006.


UNITED FIBER: Extends Letter of Intent on Paper Firm Takeover
-------------------------------------------------------------
United Fiber System Limited (UFS) had on June 29, 2005 entered
into a supplemental ldtter to its non-binding letter of intent
with Kinglsclere Finance Limited.

The Supplemental Letter provides for (i) the Letter of Intent to
be valid for 12 months from June 29, 2005 (this extends the
validity period of the Letter of Intent for another 6 months)
and (ii) the proposed purchase by the Company from Kingsclere of
100% of the issued shares in PT Kiani Kertas, a company
incorporated in Indonesia which is involved in the manufacture
of pulp from a facility at East Kalimantan, Indonesia.

The other terms and conditions of the Letter of Intent remain
unchanged.

The Company makes the following update on the following
significant progress on the transaction:

1. Kingsclere Finance Limited informed UFS that it signed an
agreement with the vendors for the purchase by Kingsclere of the
entire issued and paid up share capital of PT Kiani Kertas. The
agreement gives Kingsclere exclusivity to negotiate with the
vendors in relation to the sale of the paper firm.

2. The on-going due diligence process is now at an advanced
stage, which has enabled the Company to make substantial
progress in the negotiation of the definitive sales and purchase
agreement with Kingsclere.

3. Discussions between the Company and Kingsclere in relation to
the Proposed Acquisition are on-going and the details are
expected to be finalised in the near future.

The Company will make necessary announcements when the terms of
the Proposed Acquisition are finalized and a definitive sale and
purchase agreement relating to the Proposed Acquisition is
entered into between the Company and Kingsclere.

Mr. Wisanggeni Lauw, a substantial shareholder in UFS, is also
the 100% shareholder of Kingsclere. Save as disclosed, none of
the Directors of the Company or substantial shareholders of the
Company has any interest, direct or indirect, in the proposed
acquisition.

By order of the Board
Kishore Dass
Chief Executive Officer

Dec. 26, 2005  

CONTACT:

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


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

PREMIER ENTERPRISE: Amends Rehabilitation Plan  
----------------------------------------------
Premier Planner Company Limited, as the Plan Administrator of
Premier Enterprise Public Company Limited informed the Stock
Exchange of Thailand (SET) that on December 15, 2005, the
Bankruptcy Court granted the approval for the amendment of
Rehabilitation plan of the Company under the Plan
Administrator's Request dated as of November 3, 2005, which
resulted from the supporting vote of Creditors.

Plan's essences aim to strengthen the Company's financial
structure and to let the Company's shareholder equity to be in
positive position.

The Company shall undertake the following tasks:

(1) The Company shall retain the debt in amount of
THB636,207,750, in order to let the creditor having preferential
right over land and office buildings to receive the repayment
from the amount of THB486,207,750, within six months by means of
selling those land and office buildings for repayment.

Then, the Company shall let all creditors having remaining
unpaid debt to receive the repayment from the amount of
THB150,000,000 pro rata, within 10 years, of which there shall
be the grace period for one year.

In the Second year and Third year, the payment shall be made for
THB10,000,000 per annum. The remaining debt shall be made
annually in equal amount.

In case the Company transfers any land and office building to
any preferential creditor, the Company shall have the right to
rent such land and office building for the term of one year and
have the right to buy back such land and office building at the
transferred price plus cost of possession.

(2) The Company shall increase its registered capital for the
additional THB4,121,527,090 by issuing ordinary stock in the
number of 412,152,709 shares, thereafter, the Company shall give
to the creditor in appropriation in order to settle the debt
exceeding the retained debt.

Please be informed accordingly.

Yours sincere,
Mrs. Duangthip Eamrungroj
Mr. Teerapol Juthapornpong
Premier Planner Company Limited
As the Plan Administrator of
Premier Enterprise Public Company Limited


PREMIER ENTERPRISE: Hikes Registered Capital
--------------------------------------------
Premier Planner Company Limited, as the Plan Administrator of
Premier Enterprise Public Company Limited informed the Stock
Exchange of Thailand (SET) that on December 20, 2005, the
Company proceeded to increase its registered capital from
THB4,000,000,000 to THB8,121,527,090 by issuance of 412,152,709
ordinary shares, at THB10 per share, totaling THB4,121,527,090,
in order to be distributed to the creditors who are entitled to
receive the repayment subjected to the basis of conversion of
debt to equity under rehabilitation plan, which amended edition
was approved by the Central Bankruptcy Court on December 15,
2005.

However, the Company has distributed all capital increased
shares to creditors on December 21, 2005. Consequently, the
Company's paid-up capital has been increased to
THB8,000,000,000. The process of registering the change of paid-
up capital is expected to be completed within December 30, 2005.

Please be informed accordingly.

Yours faithfully,
Mrs. Duangthip Eamrungroj,
Mr. Teerapol Juthapornpong
Premier Planner Company Limited
As the Plan Administrator of
Premier Enterprise Public Company Limited


THAI ENGINE: Unveils New Registered Capital
-------------------------------------------
Thai Engine Manufacturing Public Company Limited, as the plan
administrator of the Company's business rehabilitation plan,
informed the Stock Exchange of Thailand (SET) that the Company
registered its capital increase from THB20,000,000 to
THB200,000,000 with the Department of Business Development,
Ministry of Commerce on December 23, 2005.

Now, the Company's paid-up registered capital is THB200,000,000
constituting 200,000,000 shares at the par value of THB1 for
each share.

Please be informed accordingly.

Yours sincerely,
Mr. Jakkrit Thanawiroon
Deputy Managing Director

CONTACT:

Thai Engine Manufacturing Pcl  
Alfa Bldg, Floor 8-12,69/8-12
Vibhavadi Rangsit Road, Phaya Thai Bangkok    
Telephone: 0-2644-4151-75   
Fax: 0-2644-4181-2   
Web site: http://www.thaiengine.com



BOND PRICING: For the Week 26 December to 30 December 2005
----------------------------------------------------------

Issuer                              Coupon     Maturity   Price
------                              ------     --------   -----


AUSTRALIA
---------
Advantage Group Ltd                  10.000%     4/15/06     1
Ainsworth Game                        8.000%    12/31/09     1
Amcom Telecommunications Ltd         10.000%    10/28/07     2
APN News & Media Ltd                  7.250%    10/31/08     5
A&R Whitcoulls Group                  9.500%    12/15/10     9
Arrow Energy NL                      10.000%     3/31/08     1
Babcock & Brown Pty Ltd               8.500%    12/31/49     9
Becton Property Group                 9.500%     6/30/10     1
BIL Finance Ltd                       8.000%    10/15/07     9
BIL Finance Ltd                       9.250%    10/15/06     9
Capital Properties NZ Ltd             8.500%     4/15/07     8
Capital Properties NZ Ltd             8.500%     4/15/09     8
Capital Properties NZ Ltd             8.000%     4/15/10     8
Cardno Limited                        9.000%     6/30/08     4
CBH Resources                         9.500%    12/16/09     1
Chrome Corporation Ltd               10.000%     2/28/08     1
Clean Seas Tuna Ltd                   9.000%     9/30/08     1
Djerriwarrh Investments Ltd           6.500%     9/30/09     4
eBet Limited                         10.000%    11/29/06    22
Evans & Tate Ltd                      8.250%    10/29/07     1
Fletcher Building Ltd                 7.550%     3/15/11     8
Fletcher Building Ltd                 7.800%     3/15/09     8
Fletcher Building Ltd                 7.900%    10/31/06     8
Fletcher Building Ltd                 8.300%    10/31/06     9
Fletcher Building Ltd                 8.600%     3/15/08     8
Fletcher Building Ltd                 8.750%     3/15/06     8
Fletcher Building Ltd                 8.850%     3/15/10     8
Fernz Corp Ltd                        8.560%    10/15/06     8
Futuris Corporation Ltd               7.000%    12/31/07     2
Gympie Gold Ltd                       8.500%     9/30/07     1
Hy-Fi Securities Ltd                  7.000%     8/15/08     8
Hy-Fi Securities Ltd                  8.750%     8/15/08    11
Hudson Timber Products Ltd            7.000%    12/31/10     1
Hutchison Telecoms Australia          5.500%     7/12/07     1
Infrastructure & Utilities NZ Ltd     8.500%     9/15/13     8
Investa Property Group Ltd            6.000%     5/28/08     6
Kagara Zinc Ltd                       9.750%     5/06/07     2
Kiwi Income Properties Ltd            8.000%     6/30/10     1
Longreach Group Ltd                  10.000%    10/31/08     1
Minerals Corporation Ltd             10.500%     9/30/07     1
Nuplex Industries Ltd                 9.300%     9/15/07     8
Pacific Print Group Ltd              10.250%    10/15/09    11
Primelife Corporation                 9.500%    12/08/06     1
Primelife Corporation                10.000%     1/31/08     1
Riversdale Mining Ltd                 8.000%    12/31/05     2
Salomon SB Australia                  4.250%     2/01/09     8
Sapphire Securities Ltd               7.410%     9/20/35     7
Sherlock Bay Nickel                  12.000%     9/01/07     1
Silver Chef Ltd                      10.000%     8/31/08     1
Software of Excellence                7.000%     8/09/07     1
Strathfield Group Ltd                11.000%    12/31/05     1
Sydney Gas Company                   12.000%     4/01/06     1
Sydney Gas Limited                   12.000%     6/01/06     1
Tower Finance Ltd                     8.650%    10/15/09     8
Tower Finance Ltd                     8.750%    10/15/07     8
TrustPower Ltd                        8.300%     9/15/07     8
TrustPower Ltd                        8.500%     9/15/12     8
TrustPower Ltd                        8.500%     3/15/14     8
Vision Systems Ltd                    9.000%    12/15/08     2


MALAYSIA
--------

Aliran Ihsan Resources Bhd            5.000%    11/29/11     1
Artwright Holdings Bhd                5.500%     3/06/07     1
Berjaya Group Bhd                     5.000%    10/17/09     1
Berjaya Land Bhd                      5.000%    12/30/09     1
Camerlin Group Bhd                    5.500%     7/15/07     1
Crescendo Corporation Bhd             3.000%     8/25/07     1
Crest Builder Holdings Bhd            7.000%     2/24/06     2
Dataprep Holdings Bhd                 4.000%     8/06/07     1
Eden Enterprises (M) Bhd              2.500%    12/02/07     1
EG Industries Bhd                     5.000%     6/16/10     1
Equine Capital Bhd                    3.000%     8/26/08     1
Fountain View Development Sdn Bhd     3.500%    11/03/06     1
Greatpac Holdings Bhd                 2.000%    12/11/08     1
Gula Perak Bhd                        6.000%     4/23/08     1
Hong Leong Industries Bhd             4.000%     6/28/07     1
Huat Lai Resources Bhd                5.000%     3/28/10     1
I-Berhad                              5.000%     4/30/07     1
Insas Bhd                             8.000%     4/19/09     1
Integrax Bhd                          3.000%    12/24/05     1
Kamdar Group Bhd                      3.000     11/09/09     1
Killinghall Bhd                       5.000%     4/13/09     2
Kiwi Income Properties Ltd            8.000%     6/30/10     1
Konsortium Lebuhraya                  4.000%     7/15/20    74
Kosmo Technology Industrial Bhd       2.000%     6/23/08     1
Kretam Holdings Bhd                   1.000%     8/10/10     1
Kumpulan Jetson                       5.000%    11/27/12     1
LBS Bina Group Bhd                    4.000%    12/29/06     1
LBS Bina Group Bhd                    4.000%    12/31/07     1
LBS Bina Group Bhd                    4.000%    12/31/08     1
LBS Bina Group Bhd                    4.000%    12/31/09     1
Lebar Daun Bhd                        2.000%     1/06/07     3
Lion Diversified Holdings Bhd         2.000%     6/01/09     1
Media Prima Bhd                       2.000%     7/18/08     1
Mithril Bhd                           3.000%     4/05/12     1
Mithril Bhd                           8.000%     4/05/09     1
Mutiara Goodyear Development Bhd      2.500%     1/15/07     1
Naim Indah Corporation Bhd            0.500%     8/24/06     1
Nam Fatt Corporation Bhd              2.000%     6/24/11     1
Pantai Holdings Bhd                   5.000%     7/31/07     2
Patimas Computers Bhd                 6.000%     2/19/06     1
Pelikan International Corp Bhd        3.000%     4/08/10     1
Poh Kong Holdings Bhd                 3.000%     1/20/07     1
Prinsiptek Corporation Bhd            3.000%    11/20/06     1
Puncak Niaga Holdings Bhd             2.500%    11/18/16     1
Ramunia Holdings                      1.000%    12/20/07     1
Rashid Hussain Bhd                    0.500%    12/24/12     1
Rashid Hussain Bhd                    3.000%    12/24/12     1
Rhythm Consolidated Bhd               5.000%    12/17/08     1
Silver Bird Group Bhd                 1.000%     2/15/09     1
Southern Steel                        5.500%     7/31/08     1
Tanah Emas Corporation Bhd            2.000%    12/09/06     1
Tap Resources Bhd                     2.000%     6/29/06     1
Tenaga Nasional Bhd                   3.050%     5/10/09     1
Time Engineering Bhd                  2.000%    12/25/05     1
VTI Vintage Bhd                       4.000%     8/22/06     1
WCT Land Bhd                          3.000%     8/02/09     1
Wah Seong Corp                        3.000%     5/21/12     3
YTL Cement Bhd                        4.000%    11/10/15     1


SINGAPORE
---------

Sengkang Mall                         8.000%    11/20/12     1
Structural System Singapore          11.000%     6/30/07     1
Tampines Assets Ltd                   5.625%   12/07/06      1
Tampines Assets Ltd                   6.000%   12/07/06      1
Tincel Ltd                            7.400%    6/13/11      1



                            *********


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

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

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

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

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delivered via e-mail. Additional e-mail subscriptions for
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subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***