TCRAP_Public/060104.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Wednesday, January 4, 2006, Vol. 9, No. 003

                            Headlines

A U S T R A L I A

ACH CLIFFORD: Members to Review Liquidator's Report
BASELL NEW ZEALAND: Winds Up Operations
BINDI BINDI: Liquidator to Distribute Company Assets
BOXHILL DEVELOPMENT: Shuts Down Operations
CARTER HOLT: Hart Still 4.5% Shy of Takeover

CRAIG MOORE: Intends to Pay Dividend to Creditors
CV ELECTRICAL: Schedules Final Meeting Jan. 11
DALMENY HOUSE: Prepares to Declare First, Final Dividend
DESIGN & SURVEY: To Distribute Dividend to Creditors
DORAPAN PTY: Appoints Official Liquidators

EG GREEN: Creditors OK Takeover Offer, But Payment Drags
HALLCRAFT CONSTRUCTIONS: To Declare First, Final Dividend
ISLAND HALL: Creditors Opt for Voluntary Liquidation
MAZUR TRANSPORT: To Pay Dividend Soon
MULTIPLEX: Quarter Distribution Rate Determined

PETER COLL: Enters Voluntary Liquidation
PHILANDIA PTY: Members, Creditors Meet to Discuss Winding Up
REGENT DISTRIBUTIONS: Members Resolve to Wind Up Business
S.A.W. CONSTRUCTIONS: James Shaw Named Liquidator
SOUTH COAST: Set to Pay Final Dividend

SPI HOLDINGS: Liquidator to Present Wind Up Report
SUN AQUA: Decides to Close Shop
SUPERIOR PLASTICS: Wind Up Process Initiated
TT-LINE COMPANY: Spirit III Keeps Sailing on Rough Seas
VOLANTE GROUP: Hostile Takeover Hits Snag

WATTYL LIMITED: Barloworld's Bid Still Uncertain


C H I N A  &  H O N G  K O N G

A&L PRODUCTION: Poised to Exit Bankruptcy This Year
AJI OU: Prepares to Wind Up Business
CHINA MOTION: Discloses Securities Interest as of Dec. 30
ELITE TECH: Receiving Proofs of Claims Until Jan. 27
FOOK HING: Bankruptcy Proceedings Near End

FULI DEVELOPMENT: Prepares to Wind Up Business
HODEX DEVELOPMENT: Court to Hear Wind Up Petition Jan. 18
HONG KONG & MACAU: Court Releases Winding Up Notice
KAI TUO: Court Commences Bankruptcy Proceedings
KWOK PING: Winding Up Process Ends

NG HEUNG: Prepares to Exit Bankruptcy
TIME KING: Court Issues Winding Up Order
WONG YAU: Discharge from Bankruptcy Looms
YOUNG RESTAURANT: Issues Notice to Creditors to Prove Debts


I N D I A

DCM FINANCIAL: Unveils AGM Results
DHRUV MAKHAN: Notes Change in Directorate
GL HOTELS: Directors Step Down
IT PEOPLE: Board Meeting Fixed Jan. 5
KUDREMUKH IRON: Youth Group Hits Government Over Closure

RAP MEDIA: Cancels Board Meeting
ROLLATAINERS LIMITED: Members Opt to Voluntarily Delist Shares


I N D O N E S I A

PERTAMINA: Plans to Buy 800,000 Barrels of Fuel
PERTAMINA: Seeks High Returns from Fuel Distribution


J A P A N

ADVANCED TECHNNOLOGY: Osaka May Delist Computer Equipment Maker
PIONEER CORPORATION: Launches Two Business Groups in Shake-up
PIONEER CORPORATION: Develops First Internal Blu-Ray Disc Writer
SUNRISE TECHNOLOGY: Shares Tumbles 19% on Possible Delisting


K O R E A

HANARO TELECOM: Unveils Objectives for the Year


M A L A Y S I A

AKTIF LIFESTYLE: SC Junks Proposed Restructuring Scheme
ANCOM BERHAD: Buys Back Ordinary Shares
AVANGARDE RESOURCES: Failure to Submit AAA May Lead to Delisting
BOUSTEAD HOLDINGS: To Dispose of Shares in Dormant Unit
BUKIT KATIL: Sees No Progress to Proposed Restructuring Scheme

CRIMSON LAND: Unveils Resolutions Passed at AGM
DATUK KERAMAT: Details Reasons for Failure to Submit AAA
EKRAN BERHAD: FIC Agrees to Proposed Capitalization
LITYAN HOLDINGS: In Talk with Lenders on Scheme of Arrangement
MEDIA PRIMA: Completes Proposed Acquisitions

NORTH BORNEO: Proposed Change of Auditors Rejected
PATIMAS COMPUTERS: Issues New Shares for Listing, Quotation
PILECON ENGINEERING: Restraining Order Expires
POHMAY HOLDINGS: Seeks to Restructure Loans
POS MALAYSIA: New Shares Up for Listing, Quotation

PSC INDUSTRIES: Formulates Plan to Regularize Condition  
TELEKOM MALAYSIA: Unit Placed in Voluntary Winding Up
TENCO BERHAD: Sees No Development in Default Status  
WEMBLEY INDUSTRIES: Default Status Unchanged


P H I L I P P I N E S

ABOITIZ TRANSPORT: Exempted from Registration Requirements
EXPORT AND INDUSTRY: PDIC Pitches Php6-Bln in Aid
EXPORT AND INDUSTRY: To Boost Status Via Shares Offering
MAKATI MEDICAL: Mulls Php160-Mln Stock Rights Offering
MAYNILAD WATER: Stakeholders Don't Want President to Quit

TPG CORPORATION: Pre-need Exit Hinges on Planholders' OK


S I N G A P O R E

DERIVATIVE SOLUTIONS: Receiving Claims Until Jan. 17
KEAT HONG: Placed Under Voluntary Liquidation
LINK ELECTRONICS: Intends to Pay Dividend to Unsecured Creditors
MORETON LOGISTICS: Prepares to Distribute Dividend
PIONEER BARGING: Asks Creditors to Submit Debt Claims

SKIN SOLUTIONS: Court Issues Winding Up Order
SUNWAY HOLDINGS: Passes Resolutions at EGM


T H A I L A N D

SIAM AGRO-INDUSTRY: Undertakes Capital Reduction
SINO-THAI: Board Director Quits  

     -  -  -  -  -  -  -  -

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

ACH CLIFFORD: Members to Review Liquidator's Report
---------------------------------------------------
Notice is hereby given that a general meeting of the members of
ACH Clifford Holdings Pty Limited will be held on Jan. 11, 2006,
11:00 a.m. at the offices of Hudson & Sibbick Pty Limited, Suite
1, Level 10, 1-5 Railway Street, Chatswood, New South Wales
2067, to present the Liquidator's account showing the manner of
the Company's winding up and disposal of its property, and to
hear any explanations that may be given by the Liquidator.

Dated this 23rd day of November 2005

E. P. Groombridge
Liquidator
Hudson & Sibbick Pty Limited
Suite 1, Level 10, 1-5 Railway Street
Chatswood NSW 2067


BASELL NEW ZEALAND: Winds Up Operations
---------------------------------------
Notice is hereby given that at a general meeting of the members
of Basell New Zealand Pty Limited held on Dec. 12, 2005, a
Special Resolution was passed to voluntarily wind up the
Company, and Messrs. Robyn B. McKern and C. M. Nicol were
appointed as Joint & Several Liquidators for such purpose.

Dated this 12th day of December 2005

Robyn B. McKern
C. M. Nicol
Liquidator
C/o McGrathNicol+Partners
Level 1, 161 Collins Street
Melbourne Vic 3000
Phone: 03 9038 3100
Web site: http://www.mcgrathnicol.com.au


BINDI BINDI: Liquidator to Distribute Company Assets
----------------------------------------------------
At a general meeting of the members of Bindi Bindi Pty Limited
held on Dec. 12, 2005, the following special resolutions were
passed:

That the Company be wound up; and

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

That Mr. Hugh Lachlan McPharlin, Chartered Accountant of Suite
5, 1st Floor, 4-8 Angas Street, Kent Town, South Australia be
appointed as Liquidator for the winding up.

Hugh L. McPharlin
Liquidator
Suite 5, 1st Floor
4-8 Angas Street
Kent Town SA


BOXHILL DEVELOPMENT: Shuts Down Operations
------------------------------------------
Notice is hereby given that at a general meeting of the members
of Boxhill Development Corporation Pty Limited held on Dec. 13,
2005, a Special Resolution was passed to voluntarily wind up the
Company, and Messrs. Robyn B. McKern and Colin M. Nicol were
appointed as Joint and Several Liquidators for the winding up.

Dated this 13th day of December 2005

Robyn B. McKern
Colin M. Nicol
Liquidator
C/o McGrathNicol+Partners
Level 1, 161 Collins Street
Melbourne Vic 3000
Phone: 03 9038 3100
Web site: http://www.mcgrathnicol.com.au


CARTER HOLT: Hart Still 4.5% Shy of Takeover
--------------------------------------------
Tycoon Graeme Hart is still working hard to convince investors
to sell him their shares in New Zealand's Carter Holt Harvey,
Sydney Morning Herald relates.

Billionaire Mr. Hart is just 4.5 percent shy of achieving his 90
percent target needed to spark a compulsory takeover of all
minority shareholdings in Carter Holt.

However, a group of small shareholders refuse to accept the
NZ$2.50 a share offer almost five months after the NZ$3.3-
billion (AU$3.07 billion) takeover offer was announced. The
group believed Mr. Hart was attempting to "get them on the
cheap".

Other shareholders believe Mr. Hart's record at turning around
underperforming companies showed they stood to benefit from
retaining their stakes in a company in which the Kiwi
businessman had a significant interest.

Last week, Mr. Hart's investment vehicle, Rank Group, extended
for the fifth time its offer for Carter Holt until January 13.
But time is quickly running out as the offer can be extended
only until February.

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


CRAIG MOORE: Intends to Pay Dividend to Creditors
-------------------------------------------------
Craig Moore Engineering Pty Limited will declare a first and
final dividend on Jan. 11, 2006.

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

Dated this 16th day of November 2005

Gerald T. Collins
Liquidator
C/o Horwath BRI Brisbane
Level 4, 370 Queen Street
Brisbane Qld 4000


CV ELECTRICAL: Schedules Final Meeting Jan. 11
----------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of CV Electrical Pty Limited will be held on Jan. 11,
2006, 9:45 a.m. at the offices of Vouris & Bell Chartered
Accountants, Level 9, 4 O'Connell Street, Sydney NSW 2000, to
receive the Liquidator's account showing how the Company's
winding up was conducted and its property disposed of, and to
hear any explanations that may be given by the Liquidator.

Proxies to be used at the meeting must be lodged with the
Liquidator no later than 4:00 p.m. of Jan. 10, 2006.

Dated this 16th day of November 2005

John Vouris
Liquidator
Vouris & Bell
Level 9, 4 O'Connell Street
Sydney NSW 2000
Phone: 02 9232 6800


DALMENY HOUSE: Prepares to Declare First, Final Dividend
--------------------------------------------------------
Dalmeny House Pty Limited will declare a first and final
dividend on Jan. 12, 2006.

Creditors whose debts or claims have not already been
Admitted, are required to formally prove their debts or claims
on or before Jan. 11, 2006.

If they do not, they will be excluded from the benefit of the
dividend.

Dated this 7th day of December 2005

Robert Elliott
Liquidator
C/o Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000


DESIGN & SURVEY: To Distribute Dividend to Creditors
----------------------------------------------------
Design & Survey Neon Pty Limited will declare a first and final
dividend on Jan. 11 2006.

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

Dated this 10th day of November 2005

Robert Elliott
Liquidator
Hall Chadwick
29th Floor, 31 Market Street
Sydney NSW 2000


DORAPAN PTY: Appoints Official Liquidators
------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Dorapan Pty Limited held on Dec. 9, 2005, it
was resolved that the Company be wound up voluntarily, and
Messrs. Adrian Lawrence Brown and George Georges of Ferrier
Hodgson, Level 29, 600 Bourke Street, Melbourne, Victoria were
appointed as Joint Liquidators at a creditors' meeting held
later that day.

Dated this 12th day of December 2005

Adrian L. Brown
George Georges
Liquidator
Ferrier Hodgson
Level 29, 600 Bourke Street
Melbourne Vic 3000


EG GREEN: Creditors OK Takeover Offer, But Payment Drags
--------------------------------------------------------
Creditors of EG Green and Sons backed an offer by offshore funds
Stark Investments and Harmony Capital Partners to take control
of the ailing abattoir, but will have to wait until June to
receive any payment, The West Australian reports.

The Green family has withdrawn their deed of company
arrangement, paving the way for Stark-Harmony consortium to
launch its AU$26.6-million offer and eventually taking control
of the 86-year old business.

The offer covers the Harvey meatworks and associated assets.

Harmony Capital has not revealed details of its proposed new
management team for the business but managing director Suresh
Withana said Harmony had already identified a chief executive
and chief financial officer.

The sale of the business to the Harmony-Stark consortium will
settle by February 28, by which time Mr. Suresh said the new
management would be in place. A detailed statement on its plans
for the business would be released ahead of settlement but the
strategy was to invest in the operation and grow its capacity.

Meanwhile EG Green's administration under Martin Jones has
produced a good outcome for creditors, who are likely to receive
around 100 cents in the dollar.

EG Green collapsed in August with AU$73.7 million debt.
Insolvency specialist firm Ferrier Hodgson was called in to the
company under pressure from the meat processor's main banker,
National Australia Bank.

CONTACT:

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


HALLCRAFT CONSTRUCTIONS: To Declare First, Final Dividend
---------------------------------------------------------
Hallcraft Constructions Pty Limited will declare a first and
final dividend on Jan. 10, 2006.

Creditors whose debts or claims have not already been admitted,
are required to formally prove their debts or claims on or
before Jan. 9, 2006. If they do not, they will be excluded from
the benefit of the dividend.

Dated this 8th day of December 2005

D. J. Coates
Liquidator
C/o Deloitte Touche Tohmatsu
GPO Box A46, Perth WA 6837
Phone: 08 9365 7000


ISLAND HALL: Creditors Opt for Voluntary Liquidation
----------------------------------------------------
Notice is hereby given that on Dec. 9, 2005, the following
special resolution was passed:

That Island Hall Pty Limited be wound up voluntarily relating to
a Creditors' Voluntary Winding Up, and that Mr. B. J. Marchesi,
Chartered Accountant of Level 5, 332 St. Kilda Road, Melbourne
be appointed as Liquidator of the Company for such purpose.

Dated this 9th day of December 2005

B. J. Marchesi
Liquidator
Bent & Cougle Pty Limited Chartered Accountants
Level 5, 332 St. Kilda Road
Melbourne Vic 3004


MAZUR TRANSPORT: To Pay Dividend Soon
-------------------------------------
Mazur Transport Pty Limited will declare a dividend on Jan. 11,
2006.

Creditors whose debts or claims have not already been admitted,
are required to formally prove their debts or claims on or
before Jan. 11, 2006. If they do not, they will be excluded from
the benefit of the dividend.

Dated this 12th day of December 2005

Susan Carter
Liquidator
Downie Insolvency
Web site: http://www.downieinsolvency.com.au


MULTIPLEX: Quarter Distribution Rate Determined
-----------------------------------------------
Multiplex Funds Management Limited (as responsible entity of
Multiples SITES Trust) announced the distribution rate for the
period between Jan. 1, 2006 and March 31, 2006.

As detailed in the product disclosure statement dated Dec. 9,
2004 the distribution rate will be the three-month bank bill
rate determines on the first business day of each relevant
distribution period plus the margin of 1.90%.

The three-month bank bill rate on Jan. 3, 2006 is 5.6317% per
annum and accordingly the distribution rate for the distribution
period between Jan. 1, 2006 and March 31, 2006 is 7.5317% per
annum.

If security holders have any questions concerning their
Multiplex SITES holding they should contact the Multiplex SITES
Trust security registrars on 1800 68 54 55 between 9:00 a.m.
Sydney time on business days.

CONTACT:

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


PETER COLL: Enters Voluntary Liquidation
----------------------------------------
Notice is hereby given that at a meeting of the members of Peter
Coll Roofing Pty Limited held on Dec. 9, 2005 it was resolved
that the Company be wound up voluntarily, and Mr. Paul Vartelas
of B.K. Taylor & Co., 8th Floor, 608 St. Kilda Road, Melbourne
was appointed as Liquidator for such purpose.

Dated this 9th day of December 2005

Paul Vartelas
Liquidator
B. K. Taylor & Co.
8th Floor, 608 St. Kilda Road
Melbourne


PHILANDIA PTY: Members, Creditors Meet to Discuss Winding Up
------------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Philandia Pty Limited will be held on Jan. 11,
2006, 10:00 a.m. at Level 4, 31 Sherwood Road, Toowong Qld, for
the following purposes:

(a) To show the manner in which the Company's property was
disposed of;

(b) To lay the Liquidator's accounts before the meeting;

(c) To hear any explanation that may be given by the Liquidator;
and

(d) To approve the destruction of the books and records of the
Company upon approval by the Australian Securities and
Investment Commission.

Dated this 23rd day of November 2005

Ross Duus
Liquidator
Duus & Co.
Level 4, Toowong Terraces
31 Sherwood Road, Toowong Qld 4066
Phone: 07 3870 7388


REGENT DISTRIBUTIONS: Members Resolve to Wind Up Business
---------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Regent Distributions NSW Pty Limited held on
Dec. 12, 2005, it was resolved that the Company be wound up
voluntarily, and Messrs. William Bernard Abeyratne and Loke
Ching Wong of Harrisons Insolvency, Level 5, 150 Albert Road,
South Melbourne were appointed as Joint and Several Liquidators
at a creditors' meeting held that same day.

Dated this 14th day of December 2005

William B. Abeyratne
Loke Ching Wong
Joint Liquidators
C/o Harrisons Insolvency
Level 5, 150 Albert Road
South Melbourne Vic 3205
Phone: 9696 2885


S.A.W. CONSTRUCTIONS: James Shaw Named Liquidator
-------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of S.A.W. Constructions Pty Limited held on Dec.
9, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. James Alexander Shaw of Ferrier Hodgson
(Newcastle) Chartered Accountants, Level 3, 2 Market Street,
Newcastle NSW 2300 was appointed as Liquidator for such purpose.

Dated this 9th day of December 2005

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


SOUTH COAST: Set to Pay Final Dividend
--------------------------------------
South Coast Business Services Pty Limited will declare a first
and final dividend on Jan. 11, 2006.

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

Dated this 8th day of November 2005

P. I. Macks
Liquidator
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000
Phone: 8211 7800


SPI HOLDINGS: Liquidator to Present Wind Up Report
--------------------------------------------------
Notice is hereby given that the final meeting of the members and
creditors of SPI Holdings Pty Limited will be held on Jan. 11,
2006, 10:00 a.m. at the offices of Jones Condon Chartered
Accountants, Level 13, 189 Kent Street, Sydney NSW, to present
the Liquidator's account showing the manner of the Company's
winding up and disposal of its property, and to give any
explanation thereof.

Dated this 28th day of November 2005

Michael G. Jones
Liquidator
C/o Jones Condon Chartered Accountants
Level 13, 189 Kent Street
Sydney NSW
Phone: 9251 5222


SUN AQUA: Decides to Close Shop
-------------------------------
Notice is hereby given that at a general meeting of the members
of Sun Aqua Pty Limited held on Dec. 9, 2005, it was resolved
that the Company be wound up voluntarily, and that Mr. Vernon
James Robinson of Deloitte Touche Tohmatsu, Level 9 ANZ Centre,
22 Elizabeth Street, Hobart, Tasmania, be appointed as
Liquidator for such purpose.

Dated this 13th day of December 2005

Vernon J. Robinson
Liquidator
Deloitte Touche Tohmatsu
Level 9, ANZ Centre
22 Elizabeth Street, Hobart Tas 7000
Phone: 03 6237 7000
Fax:   03 6237 7001


SUPERIOR PLASTICS: Wind Up Process Initiated
--------------------------------------------
Notice is hereby given that an extraordinary general meeting of
the shareholders of Superior Plastics Pty Limited held on Dec.
9, 2005, a special resolution was passed to voluntarily wind up
the Company, and Mr. Alex Koutzoumis was appointed as Liquidator
for such purpose.

Alex Koutzoumis
Liquidator
Holden & Bolster Avenir Pty Limited
Level 31, 264-278 George Street
Sydney NSW 2000


TT-LINE COMPANY: Spirit III Keeps Sailing on Rough Seas
-------------------------------------------------------
The State Government has won support from over half of
Tasmanians on its decision to keep TT-Line Company's troubled
ferry running, The Mercury has learned.

Around 53 percent of Tasmanians want Spirit of Tasmania III
retained on its three-times-a-week Sydney-Devonport run, despite
its mounting losses.

Support for the Sydney ferry, which lost NZ$28 million in the
last full year, is strongest in Tasmania's North. In Hobart,
however, more people believe the State Government should end the
losing Sydney-Devonport venture.

Premier Paul Lennon sided with majority of the Tasmanians and
decided to keep Spirit III running. He ignored strong advice
from his own treasury department that the Sydney ferry would
never be viable, was too expensive to operate and should be sold
before its losses brought down the entire TT-Line.

But Mr. Lennon insisted the tourism benefits brought to Tasmania
by Sydney passengers with their cars far outweighed the pure
profit-and-loss figures incurred by Spirit III.

CONTACT:

TT-Line Company Pty Ltd
The Esplanade
EAST DEVONPORT
TAS 7310  
Phone: 03 6421 7311
Fax: 03 6427 0588


VOLANTE GROUP: Hostile Takeover Hits Snag
-----------------------------------------
An attempted hostile takeover of Volante Group by Commander
Communications has suffered a major setback after a large
shareholder snubbed the offer at its present price, according to
the Sydney Morning Herald.

JM Financial Group stressed that Commander's AU$130-million
offer "highly undervalues" Volante.

JM Financial's comments came after Volante's other major
shareholder, Perpetual Trustees, hinted last month that
Commander might have to increase its offer before shareholders
accepted it. The bid is conditional on Commander and its
associates gaining at least 90 percent stake in Volante.

Volante issued an earnings downgrade in November when it said
first-half net profit was expected to drop by as much as 39
percent to between AU$2 million and AU$2.5 million.

Commander had pounced on Volante at a difficult time for the
company as it underwent a transition from selling hardware
towards a focus on IT services, JM Financial said.

Volante's board is yet to formally respond to the bid, but it
did issue a statement shortly after the takeover was launched
last month advising shareholders to take no action and saying
that the bid price represented only a modest premium.

Volante's announcement Re Commander's proposed conditional
takeover offer is available for downloading free of charge at
http://bankrupt.com/misc/tcrap_volantegroup010306.pdf.

CONTACT:

Volante Group Limited
Binary Centre, Level 1, 3 Richardson Place,
Riverside Corporate Park,
NORTH RYDE, NSW,
AUSTRALIA, 2113  
Telephone: (02) 8870 2070  
Fax: (02) 8870 2139  
Web site: http://www.volante.com.au


WATTYL LIMITED: Barloworld's Bid Still Uncertain
------------------------------------------------
South Africa's Barloworld Coatings is still vague about its
rumored counter-bid for beleaguered Australian paint maker
Wattyl Limited, The Age reveals.

Barloworld also seemed secretive about the dire financial state
of its Taubmans and Bristol paint operations in Australia.
Barloworld's Australian management declined to comment on
speculation the company obtained an emergency AU$1.4 million
loan last year to pay the wages of its employees.

On December 22, investment firm Allco Equity Partners made an
AU$275-million offer for Wattyl. Barloworld then appointed ANZ
Bank to review the terms of the Allco proposal and advise it on
alternatives.

Barloworld had held discussions with Wattyl before Allco's bid.
The speculation was that Barloworld was planning to sell
Taubmans to Wattyl.

Allco has tried to block the possibility of a Wattyl-Taubmans
merger. However, rumors abound that the Australian Competition
and Consumer Commission (ACCC) might approve a merger 10 years
on, given the dominance of hardware retailers such as Bunnings.

Meanwhile, the Wattyl board is set to meet today to discuss
about the AU$274.8-million bid made by Allco.

Wattyl Chief Executive John Nolan has provided strong hints he
will use his restructure of Wattyl as his main defense against
Allco's offer.

Just three weeks ago, Wattyl issued a statement saying how its
cost-cutting program was ahead of schedule.

CONTACT:

Wattyl Limited
Level 1
68 Waterloo Road
North Ryde NSW 2113
Phone: +61 2 9813 3333
Fax: +61 2 9813 3311


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

A&L PRODUCTION: Poised to Exit Bankruptcy This Year
---------------------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Kwok Kam Ming trading
as A&L Production Company (the bankrupt), will be discharged
from bankruptcy on June 19, 2006, in the absence of any
objections from their trustee in bankruptcy or creditors.

The that the bankrupts' creditors have the right to object to
their discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 30th day of December 2005.

CONTACT:

Lee Mei Yee May
Acting Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 28672448
Fax: 31051814
Web site: Http://www.info.gov.hk/oro/


AJI OU: Prepares to Wind Up Business
------------------------------------
Aji Ou Japanese Restaurant Limited has received a notice of
winding up order in the High Court of the Hong Kong Special
Administrative Region Court of First Instance on December 14,
2005.

The company's registered office is G/F Nno 285 Tokwawan Road
Kowloon.

Date of Presentation of Petition: October 24, 2005

E T O'CONNELL
Official Receiver


CHINA MOTION: Discloses Securities Interest as of Dec. 30
---------------------------------------------------------
The Stock Exchange of Hong Kong has received a message from
China Motion Telecom International Limited, which is reproduced
as follows:

From the monthly statement furnished by its Substantial
Shareholder to the Singapore Exchange Securities Trading
Limited, the company noted that the interest of it in the
securities of China Motion Telecom International
Limited as at December 30, 2005 is as follows:

Name of Substantial Shareholder:  Goldtop Holdings Limited

Name of Beneficial Owner:  Goldtop Holdings Limited

Number of shares held as at 30 December 2005:  Nil

% of shareholding as at 30 December 2005:  Nil

Number of shares held as at 30 November 2005:  216,198,000

Number of warrants held as at 30 December 2005:  Nil

Number of warrants held as at 30 November 2005:  Nil

According to Chong Hing Securities, the company posted a net
loss of HK$459.70 million in the year ending March 31, 2005,
versus a net loss of HK$47.47 million in the same period a year
earlier.

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


ELITE TECH: Receiving Proofs of Claims Until Jan. 27
----------------------------------------------------
Notice is hereby given that the Creditors of Elite Tech Limited
(In Members' Voluntary Liquidation), which is being voluntarily
wound up, are required on or before January 27, 2006 to send
their names, addresses and descriptions, full particulars of
their debts or claims, as well as the names and addresses of
their solicitors (if any) to the Liquidators of the Company.

If so required by notice in writing from the said liquidators to
prove their debts or claims at such time and place as shall be
specified in such notice.

In default thereof, they will deemed to waive all of such debts
or claims and the Liquidators will be entitled seven days after
the above date, to distribute the funds available or any part
thereof to the Sole Member.

Dated this 30th day of December 2005

CONTACT:

THOMAS ANDREW CORKHILL
IAIN FERGUSON BRUCE
Liquidators
8th Floor, Gloucester Tower
The Landmark
11 Pedder Street, Central
Hong Kong


FOOK HING: Bankruptcy Proceedings Near End
------------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Cheng Fat Pun trading
as Fook Hing Construction Engineering Company (the bankrupt),
will be discharged from bankruptcy on June 19, 2006, in the
absence of any objections from their trustee in bankruptcy or
creditors.

The that the bankrupts' creditors have the right to object to
their discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 30th day of December 2005.

CONTACT:

Lee Mei Yee May
Acting Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 28672448
Fax: 31051814
Web site: Http://www.info.gov.hk/oro/


FULI DEVELOPMENT: Prepares to Wind Up Business
----------------------------------------------
Fuli Development Limited has received a notice of winding up
order in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on December 14, 2005.

The company's registered office is located at Basement 38-40
Hankow Road Tsimshatsui Kowloon.

Date of Presentation of Petition: October 24, 2005

E T O'CONNELL
Official Receiver


HODEX DEVELOPMENT: Court to Hear Wind Up Petition Jan. 18
---------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Hodex Development Limited by the High Court of Hong Kong Special
Administrative Region was on November 22, 2005 presented to the
said Court by Yung Sau Lan, Shirley of 13A, Valiant Commercial
Building, 22-24 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

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

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

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

PANSY LEUNG TANG & CHUA
Solicitors for the Petitioner
21st Floor, Regent Center
88 Queen's Road Central
Central, Hong Kong

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


HONG KONG & MACAU: Court Releases Winding Up Notice
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Hong Kong & Macau Scent On Engineering & Construction Limited by
the High Court of Hong Kong Special Administrative Region was on
December 8, 2005 presented to the said Court by Leung Chi Shing
trading as Wing Lee Eng. Co. of Room 3205, Pok Yat House, Pok
Hong Estate, Shatin, New Territories, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on February 1, 2006.

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

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

YIP, TSE & TANG
Solicitors for the Petitioner
20th Floor, China Overseas Building
No. 139 Hennessy Road
Wanchai, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of January 27, 2006.


KAI TUO: Court Commences Bankruptcy Proceedings
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of Kai
Tuo (H.K.) Technology Company Limited by the High Court of Hong
Kong Special Administrative Region was on December 2, 2005
presented to the said Court by Star Glory Investment Limited
whose registered address is situate at 23rd Floor, Tower 1,
Admiralty Centre, 18 Harcourt Road, Hong Kong.  

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

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

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

FRED KAN & CO
Solicitors for the Petitioner
31st Floor, Central Plaza
18 Harbour Road
Wanchai, Hong Kong
Phone: 2598 1318
Fax: 2588 1318

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


KWOK PING: Winding Up Process Ends
----------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Kwok Ping Wah formerly
trading as Pole & Log Production (the bankrupt), will be
discharged from bankruptcy on June 19, 2006, in the absence of
any objections from their trustee in bankruptcy or creditors.

The that the bankrupts' creditors have the right to object to
their discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 30th day of December 2005.

CONTACT:

Lee Mei Yee May
Acting Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 28672448
Fax: 31051814
Web site: Http://www.info.gov.hk/oro/


NG HEUNG: Prepares to Exit Bankruptcy
-------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Ng Heung King trading
as Procreative Industrial Co. (the bankrupt), will be discharged
from bankruptcy on June 19, 2006, in the absence of any
objections from their trustee in bankruptcy or creditors.

The that the bankrupts' creditors have the right to object to
their discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 30th day of December 2005.

CONTACT:

Lee Mei Yee May
Acting Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 28672448
Fax: 31051814
Web site: Http://www.info.gov.hk/oro/


TIME KING: Court Issues Winding Up Order
----------------------------------------
Time King Investments Limited has received a notice of winding
up order in the High Court of the Hong Kong Special
Administrative Region Court of First Instance on December 14,
2005.

The company's registered office is Rm D 10th Floor Wong Tat Wing
Court 14-16 Hillwood Road Tsimshatsui Kowloon.

Date of Presentation of Petition: October 24, 2005

E T O'CONNELL
Official Receiver


WONG YAU: Discharge from Bankruptcy Looms
-----------------------------------------
Notice is hereby given that under the provisions of section 30 A
of the Bankruptcy Ordinance (Chapter 6), Wong Yau Ming formerly
trading as Shing Ming Engineering Works (the bankrupt), will be
discharged from bankruptcy on June 5, 2006, in the absence of
any objections from their trustee in bankruptcy or creditors.

The that the bankrupts' creditors have the right to object to
their discharge on any of the following grounds:

(i) In the case of a discharge to which section 30A(2)(a) of the
Bankruptcy Ordinance (Chapter 6) applies, that the bankrupt is
likely within 5 years of the commencement of the bankruptcy to
be able to make a significant contribution to its estate;

(ii) That the discharge of the bankrupt would prejudice the
administration of its estate;

(iii) That the bankrupt has failed to co-operate in the
administration of its estate;

(iv) That the conduct of the bankrupt, either in respect of the
period before or the period after the commencement of the
bankruptcy, has been unsatisfactory;

(v) Without limiting section 30A(4)(c) or (d) of the Bankruptcy
Ordinance (Chapter 6)(i.e. ground (iii) or (iv)), that the
bankrupt has departed from Hong Kong and has failed forthwith to
return to Hong Kong following a request to do so from the
trustee;

(vi) That the bankrupt has continued to trade after knowing to
be insolvent;

(vii) That the bankrupt has committed an offence under section
129 or any of sections 131 to 136 of the Bankruptcy Ordinance
(Chapter 6); and

(viii) That the bankrupt has failed to prepare an annual report
of his/her earnings and acquisitions for the trustee.

Dated this 30th day of December 2005.

CONTACT:

Lee Mei Yee May
Acting Official Receiver
10th Floor, Queensway Government Offices,
66 Queensway, Hong Kong
Phone: 28672448
Fax: 31051814
Web site: Http://www.info.gov.hk/oro/


YOUNG RESTAURANT: Issues Notice to Creditors to Prove Debts
-----------------------------------------------------------
Notice is hereby given that the creditors of Young Restaurant
Employees Association Limited (In Members' Voluntary
Liquidation), which is being voluntarily wound up, are required
on or before January 27, 2006 to send in their names, addresses
and particulars of their debts or claims, and the name and
address of their solicitors, if any, to the Liquidator of the
said Association.

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

Dated this 23rd day of December, 2005

LEE WING
Liquidator
Room 615, Hung Fai House
Hunghom Estate
Kowloon, Hong Kong


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

DCM FINANCIAL: Unveils AGM Results
----------------------------------
Dcm Financial Services Limited has announced that at the Annual
General Meeting (AGM) of the Company held Dec. 29, 2005, the
Members of the Company considered, discussed, deliberated and
approved the following:

(1) Re-appointment and fixation of remuneration of Auditors.

(2) Re-appointment of Mr. S. K. Sharma, as Director liable to
retire by rotation. (3) Appointment of Mr. S. K. Sharma, as
Whole Time Director designated as Executive Director.
All the above resolutions were formally proposed and seconded.
Queries / suggestions were made/invited on all these items and
were satisfied and suitably addressed to, by the Chairman.

All the above resolutions were approved unanimously.

CONTACT:

Dcm Financial Services Limited
75, Amrit Nagar
NDSE Part I
New Delhi - 110003
Phone: 011-4642570/71/72/73/74
Fax: 4633676


DHRUV MAKHAN: Notes Change in Directorate
-----------------------------------------
Dhruv Makhan (India) Ltd announced that Board of Directors of
the Company at its meeting held on December 01, 2005, has
appointed Shri Bahadur Nigam as Additional Director of the
Company.

Shri S B Nigam shall hold office upto the date of the next
Annual General Meeting (AGM) of the Company, and Shri Shailesh R
Thakkar , Chairman & Managing Director of the Company has
resigned as Chairman & Managing Director as well as Director of
the Company w.e.f December 01, 2005.

CONTACT:

Dhruv Makhan (India) Ltd
Kamla Nagar House, 278 / 281,
Village- Badarkha, Taluka - Dholka
Ahmedabad 382270  
Gujarat  


GL HOTELS: Directors Step Down
------------------------------
GL Hotels Ltd has informed Bombay Stock Exchange (BSE) that Mr.
V P Garg and Mr. Vikram Seth appointed as Directors w.e.f. April
11, 2005, have resigned from the Directorship of the Company
with effect from December 22, 2005.

CONTACT:

GL Hotels Limited
Dairy Tops, Plot no J-177,
Pimpri Chinchwad Industrial,
MIDC, Bhosari
Pune 411026  
Maharashtra  


IT PEOPLE: Board Meeting Fixed Jan. 5
-------------------------------------
IT People India Ltd advised that a meeting of the Board of
Directors of the Company will be held on January 05, 2006, inter
alia, to consider the following:

1. The proposal for Preferential Allotment of optionally
convertible redeemable debentures (Partly / Fully) with such
coupon rate as may be decided by the Board.

2. Various options for raising of funds that may be available.

3. Increase in Authorized Capital and consequent amendment to
the Memorandum & Articles of Association of the Company.

4. To fix the record date and to determine entitlement for the
purpose of reissuing forfeited shares to the equity shareholders
on proportionate basis as was decided in the Board Meeting held
on October 28, 2005.

5. Convening of Extraordinary General Meeting and approving the
draft of the Notice.

CONTACT:

IT People India Ltd
S V Road, A K Industrial Estate,
Veer Savarkar Flyover, Goregaon (W)
Mumbai 400062  
Maharashtra  
Phone: 28786600 28786601 28786602   
Fax: 28783939   


KUDREMUKH IRON: Youth Group Hits Government Over Closure
--------------------------------------------------------
The Democratic Youth Federation of India (DYFI) has blamed both
the Central and State governments for the closure of profit-
making Kudremukh Iron Ore Company Ltd (KIOCL), daijiworld.com
reports.

KIOCL shut down following a Supreme Court order to close the
mining activities at Kudremukh by Dec. 31, 2005.

DYFI state president K N Umesh said the governments should have
intervened and supported KIOCL's cause.

They should have brought in amendments to the Wild Life Act 1972
and Forest Protection Act 1980 to allow mining at Kudremukh, Mr.
Umesh said.

DYFI believes the closure of KIOCL is a loss to the State and
Central government.


RAP MEDIA: Cancels Board Meeting
--------------------------------
Rap Media Ltd advised that in view of the fact that the proposal
for issue of Preferential Shares has been dropped by the
Management for the present, the Board Meeting dated December 31,
2005 of the Company has been cancelled.

CONTACT:

Rap Media Limited
Arora House, 16, Golf Link,
Union Park, Khar West
Mumbai 400052  
Maharashtra  
Phone: 26041313 26041314 26041315   
Fax: 26494657  


ROLLATAINERS LIMITED: Members Opt to Voluntarily Delist Shares
--------------------------------------------------------------
Rollatainers Limited advised that the members at the 34th Annual
General Meeting (AGM) of the Company held on December 31, 2005,
inter alia, have unanimously passed the following resolutions:

1. Adoption of the Audited Balance Sheet of the Company as at
September 30, 2005 together with Profit and Loss Account for the
period ended on that date and the reports of the Directors and
the Auditors thereon.

2. Re-appointment of Mr. Vinod Bhargava as Director of the
Company.

3. Appointment of M/s. Manoj Mohan & Associates, Chartered
Accountants, as the Auditors of the Company, in place of M/s. S
S Kothari Mehta & Co., Chartered Accountants, to hold office
from this meeting till the conclusion of the next Annual General
Meeting of the Company.

4. Voluntarily De-listing of Company's securities from The Delhi
Stock Exchange Association Ltd, The Hyderabad Stock Exchange Ltd
and The Calcutta Stock Exchange Association Ltd. The Securities
of the Company shall, however, continue to be listed on the
Bombay Stock Exchange Ltd.

CONTACT:

Rollatainers Ltd
13/6, Mathura Road,
Faridabad 121003  
Haryana  
Phone: 2275319 2275372 2274248   
Fax: 2275392 2276916  


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

PERTAMINA: Plans to Buy 800,000 Barrels of Fuel
-----------------------------------------------
In an update to a planned fuel purchase, state oil and gas firm
PT Pertamina seeks to buy an extra 800,000 barrels of gasoline
from the spot market this month, reports Dow Jones.

The Company had earlier stated that it was planning to buy
500,000 barrels of petroleum products due to a technical problem
at its Balongan refinery (reduced refinery capacity).

Instead, Pertamina will buy 300,000 more barrels of gasoline to
its planned 500,000 barrels, since repairs at its Central Java
refinery are expected to be finished next month.

Pertamina's marketing director Ari Sumarno announced that the
Company will buy the fuel from the spot market.

CONTACT:

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


PERTAMINA: Seeks High Returns from Fuel Distribution
----------------------------------------------------
State oil firm PT Pertamina is seeking high revenues from fuel
distribution, as it has been appointed as the sole distributor
of subsidized fuel for 2006, the Jakarta Post reports.

The Company has asked for a pre-tax margin from IDR500 to IDR700
for every liter distributed nationwide. This is a significant
rise from a previous IDR25 fee that it gets under a cost-plus
fee mechanism, which is to be applied until Dec. 31, 2006.

According to the Downstream Oil & Gas Regulatory Agency (BPH
Migas) Chairman Tubagus Haryono, the rise in the premium
proposed by Pertamina indicates its request for a premium that
was 15% to 19% higher than Mid Oil Platts Singapore (MOPS)
prices (upon which fuel prices are based) in order to include
distribution and transportation costs.

Pertamina offers different margins for certain fuel types and
trading zones.

The margin has yet to be determined by the Minister of Energy &
Mineral Resources, who is currently reviewing Pertamina's
request together with the Ministry of Finance, in order to
consider the allotted IDR54.3 trillion state budget to subsidize
up to 41 million kiloliters of fuel.

At present, Pertamina is the only company ready to carry out the
new public service obligation, which requires that oil firms
must also distribute subsidized fuel outside of Java Island,
since foreign oil firms like Petronas Berhad and Royal Dutch
Shell have yet to build and operate fuel stations throughout the
country.


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

ADVANCED TECHNNOLOGY: Osaka May Delist Computer Equipment Maker
---------------------------------------------------------------
The Osaka Securities Exchange said it may consider delisting
Advanced Technology and Systems Co., Bloomberg News reports.

The company failed to raise money to make a payment on December
31 to redeem Swiss franc-convertible bonds and asked creditors
to postpone the redemption due date.

The Group's principal activity is to develop and distribute
Storage Systems such as RAID and Storage Application products.

CONTACT:

Advanced Technology and Systems Co. and Ltd
JR Shinagawa East Building 8F
2-18-1, Kounan, Minato-ku
Tokyo, 108-0075
Phone: +81-3-6717-5700
Fax: +81-3-6717-5701


PIONEER CORPORATION: Launches Two Business Groups in Shake-up
-------------------------------------------------------------
Pioneer Corporation will dismantle the current internal company
system and newly establish two business groups, Home
Entertainment Business Group and Mobile Entertainment Business
Group, effective January 1, 2006.

This organizational change will be implemented in accordance
with the business restructuring plans announced on Dec. 8, 2005.

Organizational change Effective January 1, 2006

The company will abolish its internal company system. The
current three internal companies, Home Entertainment Business
Company, Plasma Display Business Company, and Mobile
Entertainment Company, will be reorganized into new two business
groups, Home Entertainment Business Group and Mobile
Entertainment Business Group.

At the same time, Pioneer announced the changes in management as
follows:

Effective January 1, 2006

- Mr. Tamihiko Sudo, currently Executive Vice President and
Representative Director; and in charge of corporate strategy
planning, corporate management, export management in general,
and quality control in general, will become President and
Representative Director.

- Mr. Hajime Ishizuka, currently Senior Managing Director and
Representative Director, President of Home Entertainment
Business Company, President of AV Business Company; and in
charge of Procurement Group, will become Senior Managing
Director and Representative Director; and in charge of corporate
management, export management in general, and Procurement Group.

- Mr. Tadahiro Yamaguchi, currently Managing Director, Executive
Vice President of Plasma Display Business Company in charge of
technology and production, and General Manager of Omori Plant,
will become Managing Director; and in charge of Production
Management and Coordination Division, and quality control in
general

- Mr. Yoichi Sato, currently Managing Director, Deputy General
Manager of Research & Development Group, and General Manager of
PDP Development Center, will become Managing Director, Deputy
General Manager of Research & Development Group, and General
Manager of PDP Development Center; and in charge of Plasma Panel
Engineering Division of Home Entertainment Business Group.

- Mr. Akira Haeno, currently Managing Director and President of
Mobile Entertainment Company, will become Managing Director and
General Manager of Mobile Entertainment Business Group.

- Mr. Shinji Yasuda, currently Counselor, will become Senior
Executive Officer, General Manager of Home Entertainment
Business Group, and General Manager of Omori Plant.

- Mr. Buntarou Nishikawa, currently Executive officer, Vice
President of Mobile Entertainment Company, and General Manager
of OEM Sales Division of Mobile Entertainment Company, will
become Executive officer, General Manager of OEM Sales Division
of Mobile Entertainment Business Group.

- Mr. Kaoru Sato, currently Executive Officer, Vice President of
Home Entertainment Business Company and General Manager of
Tokorozawa Plant, will become Executive Officer, General Manager
of Tokorozawa Plant of Home Entertainment Business Group.

- Mr. Keiichi Yamauchi, currently Executive Officer, General
Manager of Mobile System Development Center of Research &
Development Group, will become Executive Officer, General
Manager of Mobile System Development Center of Research &
Development Group; and in charge of software and platform
development of Home Entertainment Business Group.

As announced on November 21, 2005, Mr. Kanya Matsumoto,
currently Chairman and Representative Director, and Mr. Kaneo
Ito, currently President and Representative Director, will both
assume the office of Director and Advisor, effective January 1,
2006.

Effective December 31, 2005

- Mr. Masaru Saotome, currently Senior Managing Executive
Officer and President of Plasma Display Business Company, will
resign his post.

Effective December 28, 2005

- Mr. Kenji Tokuyama, currently Executive Officer and in charge
of Strategy Planning Division of Research & Development Group,
will resign his post.

About Pioneer:

Pioneer Corporation is one of the leading manufacturers of
consumer and business-use electronics products such as audio,
video and car electronics on a global scale. Its shares are
traded on the New York Stock Exchange (ticker symbol PIO),
Euronext Amsterdam, Tokyo Stock Exchange, and Osaka Securities
Exchange.

For further information, please contact:
Public Relations
Pioneer Corporation, Tokyo, Japan
Phone: +81-3-3495-9885
E-mail: pioneer_prd@post.pioneer.co.jp
Web site: http://www.pioneer.co.jp


PIONEER CORPORATION: Develops First Internal Blu-Ray Disc Writer
----------------------------------------------------------------
Pioneer Corporation announced that the company's first internal
BD/DVD writer with ATAPI connection for Windows PCs has recently
been developed.

The new Pioneer BDR-101A complies with the latest specifications
for the BD-R (Blu-ray Disc recordable), BD-RE (Blu-ray Disc
rewritable), and the BD-ROM (Blu-ray Disc read-only memory). It
is expected to start shipping at the end of January, 2006*1.

Single-layer BD-R and BD-RE discs can store up to 25 gigabytes*2
of data, about five times more than a conventional DVD disc,
supporting a high-speed data transfer rate of a maximum of
72Mbps (2x) for both reading and writing. It is possible to
record over two hours of a high-definition (HD) video (at 24Mbps
transfer rate) on a single disc. This level of storage capacity
and transfer speed is expected to make possible a wide range of
applications, such as server data backup and video storage.

For BD-ROM discs, a wide variety of Blu-ray Disc titles,
including films, music, and games, will be released in the
future.

The BDR-101A Blu-ray Disc writer will write and read single-
layer BD-R and BD-RE discs (without cartridge), and read single-
layer and double-layer BD-ROM discs (without cartridge). Also,
featuring proprietary Pioneer optical technology, such as the
Ultra Dynamic Resonance Absorber and the Multi-Effect Liquid
Crystal Tilt Compensator, the new writer will ensure high
reliability in high-density recording and playback with Blu-ray
Discs as well as DVD discs.

With the release of the BDR-101A offering the industry's highest
level of performance and reliability, Pioneer is responding to
users requiring greater storage capacity, as well as
contributing to the expansion of the Blu-ray writer market.
Pioneer will continue to actively develop the Blu-ray disc
format and promote its use as one of the Blu-ray Disc Founders.

Pioneer will be exhibiting the BDR-101A at the 2006
International CES being held from January 5, 2006, in Las Vegas,
USA. Visitors will be able to see the BDR-101A at both the
Pioneer booth and the BDA*3 booth.

-1  Shipment schedules may change depending on the start date
for the Blu-ray Disc format logo license and the copyright
protection technology license.
-2  Double-layer BD-R/BD-RE discs can store up to 50 gigabytes
of data.
-3  Blu-ray Disc Association. The BDA is a worldwide
organization made up of enterprises and organizations engaged in
the research and development or the manufacture of Blu-ray
products, and of software and hardware manufacturers and other
members dedicated to developing and promoting Blu-ray disc
standards. The BDA establishes and promotes Blu-ray standards.

Main features

(1) Newly-developed BD/DVD compatible lens  

The pickup equipped with the Pioneer's newly-developed BD/DVD
compatible lens realizes high-speed recording at a maximum of 2x
for BD-R/BD-RE 2x media. This will also play BD-ROM and DVD-ROM
discs, and play or record on DVD-R/DVD+R, DVD-RW/ DVD+RW, Dual
Layer DVD-R, and DVD+R Double Layer discs*4.

Please use Pioneer-designated disc media and appropriate
application software.

(2) Various proprietary high-quality recording technologies for
both Blu-ray and DVD discs

Ultra DRA to suppress vibration, a technology developed based on
know-how that Pioneer has been cultivating in the development of
DVD writers Limited Equalizer LSI to dramatically improve
reading reliability Multi-Effect Liquid Crystal Tilt Compensator
to improve the recording and playback characteristics by adding
astigmatism correction to the existing tilt correction and
spherical aberration correction.


SUNRISE TECHNOLOGY: Shares Tumbles 19% on Possible Delisting
------------------------------------------------------------
Sunrise Technology Corporation on Sunday tumbled JPY25, or 19
percent, to JPY110, Bloomberg News relates.

The company's shares fell after the Osaka Securities Exchange
said on December 27 that it placed the company on supervision
for possible delisting.

The exchange said financial statements submitted by the company
might have been falsified.

Sunrise Technology said in a release that it found mistakes in
its earnings for the past three business years and has corrected
them.

CONTACT:

Sunrise Technology Corporation
4-29 Shiohama 2-Chome
Koto-Ku 135-0043, Tokyo
Japan
Phone: +81 3 5683 1357


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

HANARO TELECOM: Unveils Objectives for the Year
-----------------------------------------------
Hanaro Telecom Inc. declared in a press release its objective
for the New Year 2006, which is to focus all of its efforts on
sales, and implemented the organizational restructuring to
reinforce sales capacity, put in place performance-oriented
corporate culture, and enhance the efficiency of the
organization.

Hanaro announced on January 2 that it had carried out the
organizational restructuring with focus on are enforcement of
sales capacity and a performance-oriented management for a fresh
start as an entity merged with Thrunet.

Acknowledging that acquisition and retention of subscribers and
enhancement of customer services are the most important tasks
for the year 2006, hanarotelecom decided to strengthen sales and
service functions and implement the field-oriented business
operation.

It explained that the new organizational restructuring is also
aimed to further enhance customer satisfaction by providing
best-quality broadband and voice services through on-going
quality upgrade.

In particular, hanarotelecom declared that the year 2006 would
be the year for waging a sales 'WAR' and announced that it would
focus all of its efforts on Winback of lost customers,
Acquisition of new subscribers, and Retention of acquired
subscribers.

With the sales slogan " We are Warriors", hanarotelecom pledged
that it would transform itself into a strong 2nd player in the
market based on its 3.7 million broadband Internet subscribers
with the spirit and mindset of warriors who are fighting a
battle.

To that end, hanarotelecom restructured the former organization
composed of four divisions/three headquarters/ 12 units/8 branch
offices/ 82 teams into the one made up with three
divisions/eight headquarters/15 units/eight branch offices/85
teams.

Also, it maximized the field sales function and restructured the
support functions of the head office so that they can support
the field sales more efficiently.

During the new organizational restructuring, hanarotelecom
established the Sales Channel Management Headquarters to draw up
strategies differentiated by distribution channel and to
establish sales and marketing strategies fully reflecting voices
of the sales field, which will in turn contribute to acquisition
of new subscribers and satisfaction of existing customers.

Also, hanarotelecom plans to improve the fundamentals of the
organization by strengthening support to the sales function so
that the sales departments and staff members at the forefront of
the battle can exert their full potential.

Along with the new organizational restructuring, hanarotelecom
had decided to bring in external specialists for some of the
executive positions left vacant from the organizational
restructuring carried out last year. Mr. Seung-uk Choi, former
Head of Siebel Korea was appointed as Head of Sales Channel
Management Headquarters (Senior Executive Vice President) and
Mr. Sun-man Hong, former Head of Sybase Korea will be appointed
as Head of Marketing Headquarters (Executive Vice President) as
of February 1.

Hanaro also announced new appointments for important positions,
bringing in Mr. Jin-ha Kim as Head of Technology Headquarters
(Senior Executive Vice President) and appointing Mr. Sang-jin
Jeon as Head of Communication Unit (Senior Vice President) as of
January 6.

Also, Operations Division (COO Dominic A. Gomez) and Corporate
Support Division(CFO Janice Lee) were newly established and the
former eight divisions were reorganized into eight headquarters.

The Company suggested five key management objectives to achieve
in 2006 based on the new organizational restructuring:

- retention and expansion of broadband subscriber base

- cost saving

- maximization of synergy from merger with Thrunet

- reinforcement of services and enhancement of customer
satisfaction

- establishment of the organizational culture such as Proactive
thinking, Fast decision, Fast execution, and Pay for
performance.

Head of Operations Division Dominic A. Gomez remarked, "we will
put all of our efforts into acquisition and retention of
subscribers and customer satisfaction with the strong
determination to wage a war in sales field". He added,
"hanarotelecom will gain a foothold as a strong Second player in
the fixed line market based on its 3.7 million subscribers
through strengthening of sales capacity".

CONTACT:

Hanaro Telecom, Inc. (NASDAQ: HANA)
Shindongah Fire & Marine Insurance Bldg. 43,
Taepyeongno2-Ga, Jung-Gu
Seoul, 100-733, South Korea
Phone: +82-106
Fax: +82-2-6266-4399
Web site: http://www.hanaro.com


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

AKTIF LIFESTYLE: SC Junks Proposed Restructuring Scheme
-------------------------------------------------------
Aktif Lifestyle Corporation Berhad (Aktif) issued to Bursa
Malaysia Securities Berhad an update to the Proposed
Restructuring Scheme.

On behalf of the Board of Aktif, Avenue Securities Sdn Bhd
advised that the Securities Commission (SC) had, vide its letter
dated December 28, 2005 (which was received on December 29,
2005), rejected the Proposed Restructuring Scheme. The SC's
decision was based on, amongst others, the following factors:

(a) An integral component of the Proposed Restructuring Scheme
is the Proposed Acquisition of Mahawira Sdn Bhd (Mahawira). When
compared against previous proposals involving the acquisition of
Mahawira, the SC is of the opinion that the true valuation of
Mahawira cannot be determined with certainty; and

(b) In addition, the SC cited their concerns in relation to
corporate governance issues relating to the previous proposed
corporate exercises involving Mahawira and Mahawira's
shareholders.

The Board of Aktif will deliberate on the next course of action
to be taken and an announcement will be made in due course.
Pursuant to Paragraph 17.04 of the SC's Policies and Guidelines
on Issue/Offer of Securities, Aktif may make an application for
a review of the abovementioned SC's decision within 30 days from
December 28, 82005.

This announcement is dated 30 December 2005.

CONTACT:

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


ANCOM BERHAD: Buys Back Ordinary Shares
---------------------------------------
Ancom Berhad furnished Bursa Malaysia Securities Berhad a notice
of shares buy back with the following details:  
   
Date of buy back: December 30, 2005

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

Total number of shares purchased (units): 43,200

Minimum price paid for each share purchased (MYR): 0.660

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

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 43,200

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

Cumulative net outstanding treasury shares as at to-date
(units): 9,001,903

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


AVANGARDE RESOURCES: Failure to Submit AAA May Lead to Delisting
----------------------------------------------------------------
Avangarde Resources Berhad issued to Bursa Malaysia Securities
Berhad a monthly announcement on the status of issuance of the
outstanding prescribed financial statements.

(1) Introduction

In compliance with the obligations pursuant to Paragraph 9.26 of
the Listing Requirements (LR) Bursa Malaysia Securities Berhad,
the Board of Directors of Avangarde Resources Berhad (ARB)
advised that the Company has failed to issue the Annual Audited
Accounts (AAA) and the Annual Reports (AR) (Prescribed Financial
Statement) from the respective due dates as required under
paragraph 9.23 of the LR.

(2) Obligation of ARB, pursuant to paragraph 9.26 of the LR

Pursuant to Paragraph 9.26 of the LR, ARB is required to make a
periodic announcement on a monthly basis on the status of the
issuance of the outstanding Prescribed Financial Statements.

AAA for the year ending December 31, 2002 has been submitted to
Bursa Malaysia Securities Berhad on December 27, 2005. The AAA
for 2003 & 2004 and the AR for 2002, 2003 & 2004 will be
followed.

(3) Consequences of non-compliance with the obligations

In the event ARB fails to comply with all the provisions under
paragraph 9.23, subject to any extension of time granted by the
Bursa Malaysia Securities Berhad, Bursa Malaysia Securities
Berhad may take action against ARB including the possibility of
de-listing.

This announcement is dated 30 December 2005

CONTACT:

Avangarde Resources Berhad
2nd Floor, 17 & 19, Jalan Brunei Barat,
Pudu 55100, Kuala Lumpur Malaysia
Telephone: (60) 3 242 6689
Fax: (60) 3 244 1854


BOUSTEAD HOLDINGS: To Dispose of Shares in Dormant Unit
-------------------------------------------------------
Boustead Holdings Berhad (BHB) furnished Bursa Malaysia
Securities Berhad details of the disposal of a subsidiary, Asia
Coins Sdn Bhd.  

(1) Introduction

The Board of Directors' of BHB advised that BHB has entered into
a Sale and Purchase Agreement (SPA) on December 30, 2005 with
PSC Industries Berhad (PSCI) for the disposal of BHB's entire
100 percent shareholding in Asia Coins Sdn Bhd (Company No.
510832-A) (Asia Coins)(Sale Shares) to PSCI for a cash
consideration of MYR2.00 (Proposed Disposal).

(2) Information on Asia Coins

Asia Coins is a private limited company incorporated in Malaysia
on April 11, 2000 under the Company's Act 1965. Asia Coins is a
wholly owned subsidiary of BHB.

Presently, the authorized capital of Asia Coins is MYR1,000,000,
divided into 1,000,000 ordinary shares of MYR1.00 each out of
which MYR2.00 divided into two ordinary shares of MYR1.00 each
have been issued and are credited as fully paid-up.

Asia Coins is a dormant company and has not commenced business
operation since incorporation, save for receiving an assignment
of a loan facility of MYR30 million granted by the Bank of Nova
Scotia.

(3) Financial effect of the disposal

The Proposed Disposal will not have any immediate effect on BHB
Group's earnings, net tangible assets per share, share capital
and substantial shareholders' shareholding for the financial
year ending December 31, 2005.

(4) Other information

The original cost of investment by BHB in Asia Coins is MYR5,000
being the cost of incorporation.

(5) Directors' and substantial shareholders' interest

To the best of the knowledge of the Board of Directors, none of
the Directors or substantial shareholder and/or persons
connected to them had any interest, direct and/or indirect in
the acquisition.

(6) Directors' opinion

The Board having considered all the aspects of the Proposed
Disposal, is of the opinion that the Proposed Disposal is in the
best interest of BHB.

The said Disposal does not require the approval of shareholders
and any authorities.

This announcement dated 30 December 2005.

CONTACT:

Boustead Holdings Berhad
18th Floor, Menara Boustead,
69 Jalan Raja Chulan,
50200 Kuala Lumpur
Telephone: 03-2141 9044
Fax: 03-21430075
Web site: http://www.boustead.com.my


BUKIT KATIL: Sees No Progress to Proposed Restructuring Scheme
--------------------------------------------------------------
Bukit Katil Recources Berhad (BKATIL) issued to Bursa Malaysia
Securities Berhad details of the monthly announcement on the
status of plan to regularize financial condition pursuant to
Practice Note 4/2001 (PN4).

The refer to the Company's announcement made on December 16,
2005, wherein it was announced that the proposed restructuring
scheme had been submitted to the Securities Commission for
approval on December 16, 2005.

Save for the above, there have been no material developments to
date in respect of the proposed restructuring scheme.

This announcement is dated 30 December 2005.

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela, Pusat Bandar
Damansara, Damansara Heights
Kuala Lumpur, 50490 Malaysia
Phone: +60 3 2095 7077
Fax: +60 3 2094 9940


CRIMSON LAND: Unveils Resolutions Passed at AGM
-----------------------------------------------
The Board of Directors of Crimson Land Berhad informed Bursa
Malaysia Securities Berhad that the following Ordinary
Resolutions were duly passed at the 31st Annual General meeting
held on December 30, 2005.

(1) Resolution 1

"That the Audited Financial Statements for the financial year
ended June 30, 2005 together with the Directors' and Auditors'
Reports thereon be and are hereby adopted."

(2) Resolution 2

"That Mr. Lean Chee Seng be and is hereby re-elected as Director
of the Company."

(3) Resolution 3

"That Mr. Chow Weng Fai be and is hereby re-elected as Director
of the Company."

(4) Resolution 4

"That the payment of Directors' Fees for the financial year
ended 30 June 2005 be and is hereby approved."

(5) Resolution 5

"That Messrs KPMG be and are hereby re-appointed as Auditors of
the Company and that the Directors be and are hereby authorised
to fix their remuneration."

(6) Resolution 6

"That pursuant to Section 132D of the Companies Act, 1965, the
Directors be and they are hereby authorized with full powers to
issue shares in the Company from time to time and upon such
terms and conditions and for such purposes as they may deem fit
subject always to the approval of the relevant government or
regulatory authorities being obtained for such issue and
provided that the aggregate number of the shares to be issued
pursuant to this resolution does not exceed 10 percent of the
issued capital for the time being of the Company and that such
authority shall continue to be in force until the conclusion of
the next Annual General Meeting of the Company and that the
Directors be and are also empowered to obtain the approval from
Bursa Malaysia Securities Berhad for the listing and quotation
for the additional shares so issued.

This announcement is dated 30 December 2005.

CONTACT:

Crimson Land Berhad
5, Persiaran Lidcol
Off Jalan Yap Kwan Seng
50450 Kuala Lumpur
Telephone: 03-2162 8099;  
Fax: 03-2162 8711/2161 5045


DATUK KERAMAT: Details Reasons for Failure to Submit AAA
--------------------------------------------------------
Datuk Keramat Holdings Berhad advised Bursa Malaysia Securities
Berhad that pursuant to the requirement of Paragraph 9.26(3)(b)
of the Bursa Securities LR, the Company has not issued the
Annual Audited Accounts for financial period ended December 31,
2004 by the due date of April 30, 2005, First Quarterly Report
ended March 31, 2005 by the due date of May 31, 2005, Annual
Report for financial period ended December 31, 2004 by the due
date of June 30, 2005, Second Quarterly Report ended June 30,
2005 by the due date of August 31, 2005 and Third Quarterly
Report ended September 30, 2005 by the due date of November 30,
2005 pursuant to Paragraph 9.22 and 9.23 of the Bursa Securities
LR (collectively Financial Statements).

The delay in the issuance of the Financial Statements was due to
the fact that the Company is still in the midst of working on
the proposed restructuring scheme as announced earlier to Bursa
Malaysia Securities Berhad.

The expected date to submit the abovementioned Financial
Statements will depend on the outcome of the said proposed
restructuring scheme.

The consequences of non-compliance of the requirements under
Paragraph 9.22 and 9.23 of the Bursa Securities LR may result in
the Company being suspended and/or delisted by Bursa Malaysia
Securities Berhad pursuant to Paragraph 16.02 and 16.09 of the
Bursa Securities LR respectively.

CONTACT:

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


EKRAN BERHAD: FIC Agrees to Proposed Capitalization
---------------------------------------------------
Ekran Berhad issued to Bursa Malaysia Securities Berhad details
of the proposed capitalization and issuance of 4,999,998 new
ordinary shares of MYR1.00 each in Langkawi Airport Hotel Sdn.
Berhad to Ekran Berhad (Proposed Capitalization).

The Company advised that the Foreign Investment Committee (FIC)
via its letter dated December 21, 2005 which was received by the
Company on December 28, 2005 stated that FIC has no objection to
the Proposed Capitalization.

This announcement is dated 30th December 2005.

CONTACT:

Ekran Berhad
Lot 5428-5429 Block 16 KCLD
Lorong Lapangan Tebrang Baru,
93350 Kuching Sarawak 50480
Malaysia
Telephone: +60 8 245 0908
Fax: +60 8 245 0922


LITYAN HOLDINGS: In Talk with Lenders on Scheme of Arrangement
--------------------------------------------------------------
Lityan Holdings Berhad issued to Bursa Malaysia Securities
Berhad a monthly status on default in payment pursuant to
Practice Note 1/2001 of the Listing Requirements.

Further to the announcement on November 30, 2005, Lityan
Holdings Berhad (LHB) issued the Bourse with details of the
various credit facilities in default by the Company and its
subsidiaries to the financial institutions as at December 31,
2005, as detailed in Table A below:

A copy of Table A is available for downloading free of charge at
http://bankrupt.com/misc/LityanHoldingsdefault20051231.doc

LHB is in the midst of submitting its Proposed Restructuring
Scheme to the authorities for approval and had commenced
discussion with the lenders on the Scheme of Arrangement. LHB is
concurrently also looking into other business opportunities
within its core activities and also actively taking steps to
dispose the Group's non-core investments and non-operating
assets to address its current financial position and to generate
cashflow for settlement of defaults and redemption of loans.

CONTACT:

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


MEDIA PRIMA: Completes Proposed Acquisitions
--------------------------------------------
Media Prima Berhad (MPB) furnished Bursa Malaysia Securities
Berhad with details of the proposed acquisitions of:

(I) 60,000,000 ordinary shares of MYR1.00 each in Natseven TV
Sdn Bhd (NTV7) representing the entire equity interest in NTV7
for a total cash consideration of MYR89,999,980;

(II) 9,000,000 ordinary shares of MYR1.00 each in Synchrosound
Studio Sdn Bhd (Synchrosound) representing the entire equity
interest in Synchrosound for a total cash consideration of
MYR10; and

(III) Two ordinary shares of MYR1.00 each in Encorp Media
Technology Sdn Bhd (EMT) representing the entire equity interest
in EMT for a total cash consideration of MYR10.

(collectively referred to as the Proposed Acquisitions)

The Company refers to the announcements dated October 27, 2005,
November 28, 2005, December 9, 2005 and December 14, 2005 in
relation to the Proposed Acquisitions.

Commerce International Merchant Bankers Berhad, on behalf of the
Board of Directors of MPB, advised that MPB has completed the
Proposed Acquisitions on December 30, 2005.

This announcement is dated 30 December 2005.

CONTACT:

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


NORTH BORNEO: Proposed Change of Auditors Rejected
--------------------------------------------------
On behalf of the Board of Directors, The North Borneo
Corporation Berhad advised Bursa Malaysia Securities Berhad that
at the Extraordinary General Meeting of the Company held on
December 29, 2005, the sole resolution put to the Meeting on the
proposed change of auditors was not carried.

This announcement is dated 30 December 2005.

CONTACT:

The North Borneo Corporation Bhd
Lot 1, 2nd Floor Wisma Siamloh
Jalan Kemajuan 87007
Federal Territory Labuan
Telephone: 087-417810
Fax: 087-424220


PATIMAS COMPUTERS: Issues New Shares for Listing, Quotation
-----------------------------------------------------------
Patimas Computers Berhad advised that its additional 1,000 new
ordinary shares of MYR1.00 each issued pursuant to the
conversion of MYR3,800 six percent Irredeemable Convertible
Unsecured Loan Stocks 2001/2006 into 1,000 new ordinary shares
of MYR1.00 each will be granted listing and quotation by Bursa
Malaysia Securities Berhad with effect from 9:00 a.m.,
Wednesday, January 4, 2006.

CONTACT:

Patimas Computers Bhd   
Patimas Technology Centre,
Technology Park Malaysia, Bukit Jalil,
Kuala Lumpur Wilayah Persekutuan 57000
Malaysia
Telephone: 03-89941818   
Fax: 03-89941188


PILECON ENGINEERING: Restraining Order Expires
----------------------------------------------
Pilecon Engineering Berhad (Pilecon) unveiled to Bursa Malaysia
Securities Berhad an update to the Expiry of Restraining Order.

Alliance Merchant Bank Berhad, on behalf of the Board of
Directors of Pilecon, advised that the restraining order
pursuant to Section 176(10) of the Companies Act, 1965
(Restraining Order) which was granted by the High Court of
Malaya at Kuala Lumpur (Court) on October 20, 2005 expires on
December 31, 2005.

The Company will not be seeking an extension of the Restraining
Order as the Company's petition seeking sanction of the Court
for its proposed scheme of arrangement is scheduled to be heard
on January 12, 2006.

This announcement is dated 30 December 2005.

CONTACT:

Pilecon Engineering Berhad
No 2 Jalan U1/26 Seksyen U1
40150 Shah Alam, Selangor Darul Ehsan 40150
Malaysia
Telephone: +60 3 7804 1888 / +60 3 7804 3888


POHMAY HOLDINGS: Seeks to Restructure Loans
-------------------------------------------
Pohmay Holdings Bhd issued to Bursa Malaysia Securities Berhad a
monthly announcement on default in payment pursuant to Practice
Note 1/2001 of the Listing Requirements (PN1/2001).

In relation to the status of default in payment pursuant to
PN1/2001, the Board of Directors of the Company informed the
Bourse that there is no change to the status of default in
payments of interest and principal sums to the Lenders since the
last announcement on September 30, 2005.

In compliance with Paragraph 3.2 of PN1/2001, the Company hereby
announces that it is in the process of negotiation with its
lenders to restructure the Group's loans and is actively working
with a potential white knight to alleviate the Group from its
current financial predicament.

The Board of Directors of the Company will make available to
Bursa Malaysia Securities Berhad its plan to regularize once
completed.

This announcement is dated 30 December 2005.

CONTACT:

Pohmay Holdings Berhad   
No. 23, Jalan Maharajalela,
Kuala Lumpur Wilayah
Persekutuan 50150 Malaysia
Telephone: 03-21419500   
Fax: 03-21417730


POS MALAYSIA: New Shares Up for Listing, Quotation
--------------------------------------------------
POS Malaysia & Services Holdings Berhad advised that its
additional 63,000 new ordinary shares of MYR1.00 each issued
pursuant to the Employees' Share Option Scheme will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Wednesday, January 4, 2006.

CONTACT:

Pos Malaysia & Services Holdings Berhad
189 Jalan Tun Razak
50400 Kuala Lumpur, 50400
Malaysia
Telephone: +60 3 2166 2323 / +60 3 2166 2266


PSC INDUSTRIES: Formulates Plan to Regularize Condition  
-------------------------------------------------------
PSC Industries Berhad (PSCI) issued to Bursa Malaysia Securities
Berhad a monthly announcement of the status of the Company's
plan to regularize its financial conditions pursuant to Practice
Note 17/2005 (PN17).

In compliance with the requirements of Paragraph 3.1(b) of PN17,
the Board of Directors of the Company advised that the Company
is still in the midst of formulating a restructuring plan to
regularize its financial condition. A full announcement
outlining the said regularization plan will be announced once it
is finalized.

This announcement is dated 30 December 2005.

CONTACT:

PSC Industries Berhad
3rd Flr, Ming Building
Jln Bukit Nanas
50250 Kuala Lumpur
Telephone: 03-20787770/ 20716516
Fax: 03-20787768


TELEKOM MALAYSIA: Unit Placed in Voluntary Winding Up
-----------------------------------------------------
Telekom Malaysia Berhad (TM) advised Bursa Malaysia Securities
Berhad that its wholly owned subsidiary, TM Orion Sdn Bhd
(Company No. 439862-M) (TM Orion), has commenced members'
voluntary winding-up on December 30, 2005 pursuant to Section
254(1)(b) of the Companies Act, 1965.

Pursuant thereto, Encik Abu Bakar Rajudin of Messrs. Abu Bakar
Rajudin Associates Sdn Bhd, Suite C, Resorts Business Suites,
18-2, Jalan Kampung Attap, 50460 Kuala Lumpur was appointed as
the Liquidator.

Information on TM Orion

TM Orion was incorporated in Malaysia on July 27, 1997. Its
authorized capital is MYR100,000 comprising 100,000 ordinary
shares of MYR1.00 each, out of which 2.00 ordinary shares of
MYR1.00 each was fully paid-up. TM Orion was dormant since its
incorporation.

Rationale for the Winding-up

The Winding-up exercise of TM Orion is part of the
rationalization and streamlining exercise of TM Group.

Financial Effects of the Winding-up

The Winding-up of TM Orion will not have any material effect on
TM Group.

Directors' and Substantial Shareholders' Interest

None of the Directors and Substantial Shareholders of TM or
persons connected with them has any interest, direct or
indirect, in the Winding-up of TM Orion.

Directors' Opinion on the Winding-up
The Directors of TM are of the opinion that the Winding-up is in
the best interest of TM.

CONTACT:

Telekom Malaysia Berhad
Level 51, North Wing, Menara Telekom,
Off Jalan Pantai Baharu
50672 Kuala Lumpur, Malaysia  
Phone: +60-3-2240-9494
Fax: +60-3-2283-2415S


TENCO BERHAD: Sees No Development in Default Status  
---------------------------------------------------
The Board of Directors of Tenco Berhad informed Bursa Malaysia
Securities Berhad that there is no material development to the
status of default payment to Lenders as announced previously on
November 30, 2005.

CONTACT:

Tenco Berhad
No. 5, Jalan Pelabur 23/1
40000 Shah Alam, Selangor
Malaysia
Phone: (60) 3 541 0612
Fax: (60) 3 541 0132


WEMBLEY INDUSTRIES: Default Status Unchanged
--------------------------------------------
Wembley Industries Holdings Berhad (WIHB) refers to its
announcement dated November 30, 2005 in respect of the default
in payment pursuant to Practice Note No. 1/2001.

Further to the said announcement, in relation to the status of
default in payment pursuant to PN1/2001, the Board of Directors
of the Company informed Bursa Malaysia Securities Berhad that
there is no change to the status of default in payments of
interest and principal sums to the Lenders since then.

In compliance with Paragraph 3.2 of PN1/2001, the Company
advised that it is in the process of taking steps to secure an
extension of the said cut-off date to fulfill the conditions
precedent stipulated in the DRA and thereafter to implement the
restructuring therein.

The Board of Directors of the Company will make available to
Bursa Malaysia Securities Berhad any updates on the
restructuring of the DRA.

This announcement is dated 30 December 2005.

CONTACT:

Wembley Industries Holdings Berhad
No 1 Jalan Pandungan
Kuching, Sarawak 93100
Malaysia
Phone: +60 82 236920
Fax: +60 82 236922


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

ABOITIZ TRANSPORT: Exempted from Registration Requirements
----------------------------------------------------------
Aboitiz Transport System (ATSC) Corporation (the Company)
advised that the Securities and Exchange Commission (the
Commission) has issued its resolution last Dec. 20, 2005 on our
application with them on the exemption from the registration
requirements for the Securities Regulation Code (the Code)
covering the Four Hundred Fourteen Million One Hundred Twenty-
One Thousand One Hundred Twenty-Three (414, 121,123) new common
shares to be issued and sold by the Company to Sixteen (16)
existing stockholders and Thirty-Seven (37) new investors on a
proposed restructuring through "Share Swap", out of the increase
in its authorized capital stock, at a transaction vale of
Php1.76 per share or a total of Php728,853,176.48.

The Commission in its Dec. 15, 2005 meeting resolved that the
registration of said securities is not necessary in the public
interest or for the protection of the investors and therefore
exempt from the registration requirements pursuant to Section
10.2 of the Code.

CONTACT:

Aboitiz Transport System Corp.
12/F Times Plz. Bldg.,
United Nations Ave. cor Taft Ave.,
Ermita, Manila PH-1000, Philippines
Phone: 63 2 528 7501
Fax: 63 2 528 7618 fax
Web site: http://www.wgasuperferry.com


EXPORT AND INDUSTRY: PDIC Pitches Php6-Bln in Aid
-------------------------------------------------
Export and Industry Bank (Exportbank) is expected to receive
around Php6 billion from the Philippine Deposit Insurance Corp.
(PDIC), according to BusinessWorld.

The state deposit insurer will be putting in Php600 million in
Exportbank every year for 10 years, in a bid to help the bank
clean up its balance sheet.

Exportbank reportedly needs financial assistance because it is
saddled with the Php10-billion nonperforming assets it inherited
from Urban Bank when the two banks merged in 2002.

The P600-million yearly aid is part of an agreement reached with
PDIC on Dec. 29, 2005.

Major stockholders of the bank also agreed to infuse Php3
billion to help the mid-size listed bank prepare for new
international accounting standards. This brought its authorized
capital stock to Php7.5 billion.

CONTACT:

Export and Industry Bank
30 Paseo de Roxas Ave. cor. Jupiter St.,
Makati City, Metro Manila
E-mail: expertinfo@exportbank.com.ph
Web site: http://www.exportbank.com.ph


EXPORT AND INDUSTRY: To Boost Status Via Shares Offering
--------------------------------------------------------
Export and Industry Bank (Exportbank) wants to strengthen its
financial position by offering additional stocks, a source at
the bank told BusinessWorld.

The cash-strapped bank is reportedly planning to boost its
capitalization in line with the new International Accounting
Standards (IAS).

The insider said Exportbank is keen on selling more shares to
its foreign partner Lippo Bank of Hong Kong. The foreign bank is
prepared to put billions of pesos in order to ensure Exportbank
is IAS compliant.

Banks are required to follow the new standards when they prepare
their financial statements starting with fiscal year 2005.

Meanwhile, the bank did not hold its stockholders' meeting for
2005 as mandated by government regulatory agencies. It also
failed to submit for the past three quarters its statement of
condition to the Securities and Exchange Commission (SEC).

Exportbank Chairman Sergio R. Ortiz Luis, Jr. said the required
documents will be submitted after the bank holds its annual
stockholders' meeting.

However, he refused to divulge when the meeting will be and why
it was delayed. The meeting was originally scheduled for October
2005.


MAKATI MEDICAL: Mulls Php160-Mln Stock Rights Offering
------------------------------------------------------
Ailing Makati Medical Center is looking to offer around Php160
million in stock rights to its shareholders, The Philippine Star
has learned.

Proceeds from the offering will be issued to fund expansion of
its operations and refurbishment of existing facilities.

The financially distressed hospital will file this month its
registration statement with the Securities and Exchange
Commission (SEC).

Makati Med, which has been embroiled in financial woes in the
past three years, is in talks with creditors to restructure
around Php1.2 billion in debts.

ATR-Kim Eng has been appointed as financial adviser for the plan
to restructure debts and raise new funds.

CONTACT:

Makati Medical Center
2 Amorsolo St., Legaspi Village,
Makati City
Philippines
Phone 815-9911
Web site: http://www.makatimed.ph


MAYNILAD WATER: Stakeholders Don't Want President to Quit
---------------------------------------------------------
All stakeholders of Maynilad Water Services Inc. have opposed
the planned resignation of its president, Fiorello Estuar,
reports BusinessWorld.

This means that Maynilad's interim board of directors will push
to retain Mr. Estuar during the firm's stockholders' meeting on
Jan. 9.

An informed source said Mr. Estuar was persuaded by all parties
"who are amenable that he stays" - from the court that hears the
rehabilitation case to Maynilad's creditors and lenders, and
even the Metropolitan Waterworks and Sewerage System (MWSS).

Mr. Estuar's supposed resignation comes at a time when the
government is preparing to transfer to a new investor the rights
to operate Maynilad. The firm is in the midst of a
rehabilitation that would restructure debts and improve
operations.

Maynilad stakeholders are blocking Mr. Estuar's resignation on
concerns his departure would derail the firm's rehabilitation.

Mr. Estuar was appointed president of Maynilad in February 2004
to replace Rafael Alunan, former Interior and Local Government
chief.

CONTACT:

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


TPG CORPORATION: Pre-need Exit Hinges on Planholders' OK
--------------------------------------------------------
TPG Corporation can only exit the pre-need industry if it
secures the approval of 20,000 planholders, BusinessWorld
reports.

The Securities and Exchange Commission (SEC) will allow the
Company to leave its pre-need business for as long as all its
planholders agree to a proposal to convert the firm into a total
financial services company.

However, several letters from plan holders have already reached
the SEC, complaining that TPG had been coercing them to decide
immediately by registering their approval for a proposed scheme
called STEP-UP Program.

In September, the pre-need firm set out on a nationwide road
show to secure the approval of plan holders for STEP-UP or
Scholars Trust Fund with Equitable Pay-out for Unified
Preservation, a program designed to address the problem of
uncontrolled tuition increases plaguing the industry.

Aside from redefining the payout system, the program also
proposes the eventual conversion of the pre-need firm into a
financial holding company.

TPG, led by its chairman, Francisco Colayco, had been issued a
series of show-cause orders for it to address its trust fund
deficiencies. The company has yet to present its response to the
SEC.

But Mr. Colayco said the company assures all its plan holders
that it will not renege on its obligations since it even
proposes to make them co-owners of the new firm.

CONTACT:

TPG Corporation
The Professional Tower
37 EDSA corner Boni Avenue
Mandaluyong City 1550
Phone: (02) 533-7061 to 66; (02) 746-7878 to 91
Web site: http://www.professional.com.ph


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

DERIVATIVE SOLUTIONS: Receiving Claims Until Jan. 17
----------------------------------------------------
Notice is hereby given that the creditors of Derivative
Solutions Pte Limited, which is being wound up voluntarily, are
required on or before Jan. 17, 2006 to send in their names and
addresses, with 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 from the said Liquidator, they
are by their solicitors or personally to come in and prove their
said debts or claims at such time and place as shall be
specified in such notice. In default thereof, they will be
excluded from the benefit of any distribution made
before such debts are proven.

Dated this 27th day of December 2005

Zalinah Samade
Liquidator
C/o IP Consultants Pte Limited
135 Cecil Street
#10-04 LKN Building
Singapore 069536


KEAT HONG: Placed Under Voluntary Liquidation
---------------------------------------------
At an extraordinary general meeting of the members of Keat Hong
Holdings Pte Limited held on Dec. 30, 2005, the following
Special Resolutions were passed:

(a) That Keat Hong Holdings Pte Limited be wound up voluntarily;
and

(b) That Mr. Tay Joo Soon, Certified Public Accountant of 1
North Bridge Road, #13-03 High Street Center, Singapore 179094
be and is hereby appointed as Liquidator for such purpose; and
that the Liquidator be indemnified by the Company against all
costs, charges, losses, expenses and liabilities incurred or
sustained by him in the execution and discharge of his duties in
relation to the wind up.

Dated this 30th December 2005

Tay Joo Soon
Liquidator
1 North Bridge Road
#13-03 High Street Center
Singapore 179094


LINK ELECTRONICS: Intends to Pay Dividend to Unsecured Creditors
----------------------------------------------------------------
Link Electronics (Singapore) Pte Limited, formerly of Equity
Plaza, 20 Cecil Street, #12-02 & 03, Singapore 049705, will
declare a dividend to its unsecured creditors with the following
details:

Name of Company : Link Electronics (Singapore) Pte Limited
Address of Registered Office : Equity Plaza, 20 Cecil Street,
#12-02 & 03, Singapore 049705
Last day for receiving Proofs: Jan. 18, 2006

Dated this 29th day of December 2005.

Gordon Fones
Liquidator
253 Campassvale Street #07-17
Singapore 540253


MORETON LOGISTICS: Prepares to Distribute Dividend
--------------------------------------------------
Moreton Logistics Pte Limited posted a notice of intended
dividend at the Government Gazette, Electronic Edition with the
following details:

Name of Company: Moreton Logistics Pte Limited
Court: Singapore High Court
Number of Matter: Companies Winding Up No. 600005 of 2001
Last day for receiving proofs: Jan. 6, 2005
Name  & address of Liquidator: C/o PricewaterhouseCoopers
8 Cross Street
#17-00 PWC Building
Singapore 048424

Dated this 30th day of December 2005


PIONEER BARGING: Asks Creditors to Submit Debt Claims
-----------------------------------------------------
Notice is hereby given that the creditors of Pioneer Barging
(Singapore) Pte Limited, which is being wound up voluntarily,
are required to send in their names and addresses and the
particulars of their debts or claims, and the names and
addresses of their Solicitors (if any), to the Company
Liquidators on or before Jan. 22, 2006.

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

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

Dated this 23rd day of December 2005

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


SKIN SOLUTIONS: Court Issues Winding Up Order
---------------------------------------------
Notice is hereby given that Malaysian firm PZ Cussons
(International) Limited filed a winding up petition against Skin
Solutions Asia Pacific Pte Limited with the Singapore High Court
on Nov. 29, 2005.

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

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

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

The Petitioner's address is D207 Block D, Pusat Dagangan Phileo,
Damansara 1, No. 9 Jalan 16/11, Off Jalan Damansara, Petaling
Jaya, Malaysia 46350.

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

Dated this 28th day of December 2005

Messrs Rajah & Tann
Solicitors for the Petitioners

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to the Petitioners' solicitors,
Messrs Rajah & Tann, 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 solicitors or their solicitors (if
any) and must be served, or, if posted must be sent by post in
sufficient time to reach the Petitioner's solicitors not later
than 12:00 p.m. of Jan. 19, 2006 (the day before the day
appointed for the hearing of the Petition).


SUNWAY HOLDINGS: Passes Resolutions at EGM
------------------------------------------
At an extraordinary general meeting of the members of Sunway
Holdings Pte Limited held on Dec. 30, 2005, the following
Special Resolutions were passed:

(a) That the Company be wound up voluntarily; and
(b) That Mr. Tay Joo Soon, Certified Public Accountant of 1
North Bridge Road, #13-03 High Street Center, Singapore 179094
be and is hereby appointed Liquidator for the winding up; and
that the Liquidator be indemnified by the Company against all
costs, charges, losses, expenses and liabilities incurred or
sustained by him in the execution and discharge of his duties in
relation thereto.

Dated this 30th December 2005

Tay Joo Soon
C/o 1 North Bridge Road
#13-03 High Street Center
Singapore 179094


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

SIAM AGRO-INDUSTRY: Undertakes Capital Reduction
------------------------------------------------
Siam Agro-Industry Pineapple and Others Public Company Limited
unveiled to the Stock Exchange of Thailand (SET) the result of
capital restructuring:

- Reduced the Company's registered and paid up capital from
THB300,000,000 divided into 300,000,000 shares with the par
value of THB1 per share to THB20,000,000 divided into 20,000,000
shares with the par value of THB1 per share.

This was registered with the Ministry of Commerce on December
28, 2005;

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

Yours sincerely,
Mr. Praful Shah
Managing Director

CONTACT:

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

SINO-THAI: Board Director Quits  
-------------------------------
In order to comply with the regulation of the Stock Exchange of
Thailand Board (SET Board), Sino-Thai Resources Development
Public Co. Ltd. issued to the Stock Exchange of Thailand (SET) a
report on the resignation of Mr. Suthisak Lohsawat from the
Chairman and Director of the Board of Director at December 29,
2005 for SET's reference.

Please be informed accordingly.

Sincerely yours,
Mr. Umyos Huvanandana
Managing Director

CONTACT:

Sino-Thai Resources Development Public Co., Ltd.   
Shinawatra Thai Tower, Floor 7, Zone A,
626 Rama Iv Road, Mahapruttharam, Bang Rak Bangkok    
Telephone: 0-2633-0088   
Fax: 0-2633-0008




                            *********


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

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

Copyright 2006.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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