TCRAP_Public/060113.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

             Friday, January 13, 2006, Vol. 9, No. 010

                            Headlines

A U S T R A L I A

AIR NEW ZEALAND: Doubles Order for Boeing 787 Aircraft
ALSTON GLEN: Members Opt for Voluntary Liquidation
ARDENT AUSTRALIA: Members, Creditors to Review Wind Up Report
AVECON CONSTRUCTIONS: Intends to Pay Dividend to Creditors
CARTER HOLT: Investors to Block Hart's Takeover Attempt

CBS CONSULTING: Appoints Official Liquidators
CEMENTATION SKANSKA: Liquidator to Distribute Company Assets
CHASESIDE PTY: Schedules Final Meeting Jan. 20
DECACRAFT PTY: To Declare First, Final Dividend
EASY WAY: Wind Up Process Initiated

FEINER INDUSTRIAL: Inability to Pay Debt Prompts Liquidation
FELTEX CARPETS: Godfrey Hirst Increases Stake
GOLDWEEK PTY: Creditors Need to Lodge Claims to Receive Dividend
G RETAIL: Two More Stores to Close Doors this Month
JALENIA PTY: Court Orders Winding Up

JENBAR INVESTMENTS: Liquidator to Explain Winding Up to Members
LANC MASONRY: Creditors OK Liquidator's Appointment
MEDELINK INTERNATIONAL: Placed in Voluntary Liquidation
MICHAEL FORDYCE: Enters Voluntary Liquidation
MYER LIMITED: Harvey Firms Up on Takeover Plans

PRESFORM PTY: Court Issues Winding Up Order
PROLINE COMMERCIAL: Members Agree to Wind Up Firm
QANTAS AIRWAYS: Rift with Union Widens
QANTAS AIRWAYS: Expands Regional Queensland Services
ROEDEAN PTY: Liquidator to Detail Wind Up Manner

TELSTRA CORPORATION: Job Cuts Begin
TURNER RESEARCH: Receiving Claims Until Jan. 30
VOLANTE GROUP: Board Unanimously Rejects Commander Bid
VOLANTE GROUP: Board Consigns Stock to Pre-bid Lows
YANNLEA PASTORAL: Prepares to Close Shop


C H I N A  &  H O N G  K O N G

BANK OF CHINA: Temasek Gets Nod for 5% Stake Buy
CHOY LEE: Court Issues Winding Up Order
HONG KONG CONSTRUCTION: Clarifies Joint Tender Report
HUANENG POWER: Plans to Raise Capital
INDUSTRIAL AND COMMERCIAL: To Launch Overseas Banking Service

LANDUNE INTERNATIONAL: To Clarify Winding Up Status
LINK TREASURE: Winds Up Business
NINGBO SUCCESS: Notes Shares Price Plunge
TRUMP CAPITAL: Winding Up Hearing Slated for Feb. 8
YETCHEONG COMPANY: Prepares to Shut Down Operations


I N D I A

BHARAT PETROLEUM: Facing Losses in Sale of LPG
CRANEX LIMITED: To Reconsider, Approve Rehab Scheme Draft
JCT LIMITED: Illegal Strike Disrupts Textile Unit's Operations
NEHA INTERNATIONAL: Notes Change in Directorate
ROCK HARD: Receives Call Arrears; Rules Out Shares Split


I N D O N E S I A

KIANI KERTAS: United Fiber Pursues Bid Despite Rejection
MERPATI NUSANTARA: Reopens 40 Local Routes
PERTAMINA: Doubling Gas Fuel Prices
PERUSAHAAN LISTRIK: Cuts Power to Aceh, North Sumatra
PERUSAHAAN LISTRIK: Government Seeks Lower Fuel Sale Price


J A P A N

DAIEI INCORPORATED: Revenues Down 9.1% on Slack Sales
FUJITSU LIMITED: To Construct New Logic Chip Factory
HITACHI LIMITED: Launches Ecoheart Permanent Magnet Motors
HITACHI LIMITED: Units to Unify Clinical Testing System Business
HITACHI LIMITED: Strengthening Thai Operations

MITSUBISHI MOTORS: To Issue 4th Series, Class G Preferred Shares
MITSUBISHI MOTORS: U.K. Sales Up 6% in 2005
MITSUBISHI MOTORS: Develops New Model in India
SONY CORPORATION: To Renew 5-year Chip Contract
UFJ BANK: Partners With Bank of Tokyo-Mitsubishi


K O R E A

HANARO TELECOM: Releases Notice of Merger Closing


M A L A Y S I A

ACP INDUSTRIES: Thai Sub-Unit Inks Deal with SKS Global
AVANGARDE RESOURCES: Answers Bourse's Query
CRIMSON LAND: Court Reschedules Litigation Hearings
CYGAL BERHAD: Creditors Extend Deadline to Meet Conditions
DATUK KERAMAT: Bourse Denotes Possible Delisting of Securities

EMICO HOLDINGS: Unveils Public Shareholding Spread
FOREMOST HOLDINGS: Wind Up Petition Against Unit May be Resolved
FOREMOST HOLDINGS: Unit Ceases Operations
LANKHORST BERHAD: Submits Notice Representation to Bourse
MAGNUM CORPORATION: Buys Back Ordinary Shares

MBF HOLDINGS: Court to Hear Case April 5
METACORP BERHAD: Concludes Lot Disposal
PACIFIC & ORIENT: Holds Shares Buy Back
PANTAI HOLDINGS: Purchases New Shares
PDZ HOLDINGS: Updates Public Shareholding Spread

POHMAY HOLDINGS: Bourse Extends 'Show Cause' Deadline
PUNCAK NIAGA: Complies With Bourse's Listing Requirement
QUALITY CONCRETE: Unveils Public Shareholding Spread
SAAG CONSOLIDATED: Issues Details of Public Shareholding


P H I L I P P I N E S

BAYAN TELECOMMUNICATIONS: Seeks Reconsideration of 3G Bid
CENTRAL AZUCARERA: Postpones Annual Stockholders' Meeting
LONG TERM EQUITY: Goes Into Members' Voluntary Liquidation
LONG TERM EQUITY: Creditors' Proofs of Claim Due Feb. 17
MARIWASA MANUFACTURING: Complies with Corporate Governance Rules


S I N G A P O R E

EVERGREAT CONSTRUCTION: Seeks Judicial Management Order
L&M GROUP: Appoints Judicial Manager
ROTOL ECO: Receiving Claims Until Next Month
TOP VENTURE: Asks Creditors to Submit Debt Claims


T H A I L A N D

SIAM AGRO-INDUSTRY: Details Tender Offer
* Large Companies With Insolvent Balance Sheets

     -  -  -  -  -  -  -  -

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

AIR NEW ZEALAND: Doubles Order for Boeing 787 Aircraft
------------------------------------------------------
Air New Zealand announced it has placed firm orders for two
additional Boeing 787-8 aircraft at a list price of NZ$117
million each (as of July 2004), in addition to the two it has
already on order.

Branded the "Dreamliner" by Boeing, the structure of the B787-8
aircraft makes significant use of lightweight, high-tech
composite materials to deliver operating efficiencies and
customer comfort, including higher humidity levels and a more
comfortable, lower cabin altitude.

"This is a great position for us to be in given the
unprecedented sales success of the Boeing 787 model and enables
us to plan for the airline's long-term needs," said Rob Fyfe,
Chief Executive Officer.

"Being one of the first airlines to introduce the 787 will
enable us to provide a superior, first to market experience for
our customers and allows Air New Zealand to consider new routes
beyond its current network."

The range of the B787-8 is 8,000 - 8,500 nautical miles with a
230-250 seating capacity. While Boeing has yet to confirm actual
configuration details, it is expected that the B787-9 model will
offer the same range capability with 20-50 more seats.

The announcement comes as the airline prepares for the delivery
of the first of eight new B777-200ER aircraft this week. Air New
Zealand Chief Executive Officer Rob Fyfe says Air New Zealand
has been guaranteed firm delivery slots for the two additional
aircraft.

As part of its international long-haul fleet strategy, Air New
Zealand plans to have all of its eight B777-200ER aircraft in
service by early 2007 and introduce the B787-8 aircraft during
2010 / 2011.

CONTACT:

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


ALSTON GLEN: Members Opt for Voluntary Liquidation
--------------------------------------------------
At a general meeting of the members of Alston Glen Pty Limited
held on Dec. 15, 2005, the following Special Resolution was
passed:

That the Company be wound up voluntarily, and that Mr. John
Greer of Level 7, 276 Pitt Street, Sydney be appointed as
Liquidator for such purpose.

Dated this 16th day of December 2005

John Greer
Liquidator
Level 7, 276 Pitt Street
Sydney


ARDENT AUSTRALIA: Members, Creditors to Review Wind Up Report
-------------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Ardent Australia Pty Limited will be held on Jan.
20, 2006, 10:30 a.m. at Ngan & Co., Level 5, 49 Market Street,
Sydney NSW 2000 for the following purposes:

AGENDA

(1) To receive the Liquidator's account showing how the Company
was wound up and its property disposed of, and to receive any
explanation required thereof.

(2) To consider any other business brought before the meeting.

Dated this 13th day of December 2005

P. Ngan
Liquidator
Ngan & Co.
Level 5, 49 Market Street
Sydney NSW 2000


AVECON CONSTRUCTIONS: Intends to Pay Dividend to Creditors
----------------------------------------------------------
Avecon Constructions Pty Limited will declare a first and final
dividend on Jan. 25, 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

M. C. Hall
Liquidator
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000
Phone: 8211 7800


CARTER HOLT: Investors to Block Hart's Takeover Attempt
-------------------------------------------------------
It is still uncertain whether Graeme Hart could gain full
control of Carter Holt Harvey even if the odds appear in favor
of the New Zealand business tycoon, The Sydney Morning Herald
reports.

Mr. Hart is expected to extend his bid for the forest products
giant today, but analysts believe hedge funds and investors are
still likely to prevent Mr. Hart from taking all of Carter Holt.

Mr. Hart's private investment vehicle, Rank Group, is just 4.5
percent short of achieving the target of 90 percent needed to
trigger a compulsory takeover of all minority shareholdings in
the perennial underperformer.

Several analysts believe at least one large institutional
investor, as well as mum-and-dad shareholders are refusing to
allow Mr. Hart to complete the NZ$3.3 billion (AU$3 billion)
takeover.

Macquarie Equities senior analyst Arthur Lim agreed the
billionaire businessman was unlikely to achieve his goal because
some shareholders had made "serious gains" riding on the coat-
tails of his investment decisions and would hold on to their
stakes in a company in which he had a major interest.

Mr. Lim added those holding on would probably support Mr. Hart
bringing his management style to an ailing company. He had
already begun making changes at Carter Holt, including
downsizing the head office in Auckland, in a similar fashion to
those he wrought after Burns Philp gained control of food
company Goodman Fielder in 2003.

Analysts believe Mr. Hart will still extend his bid for the
sixth time today.

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


CBS CONSULTING: Appoints Official Liquidators
---------------------------------------------
Notice is given that at a general meeting of the members of CBS
Consulting Pty Limited held on Dec. 14, 2005, Messrs. Anthony
Warner and Clifford Sanderson, Registered Liquidators of CRS
Warner Sanderson, Level 5, 30 Clarence Street, Sydney NSW 2000
were appointed as Liquidators in the winding up of the Company.

Dated this 14th day of December 2005

Clifford Sanderson
Anthony Warner
Liquidators
CRS Warner Sanderson
Level 5, 30 Clarence Street
Sydney NSW 2000


CEMENTATION SKANSKA: Liquidator to Distribute Company Assets
------------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Cementation Skanska Australia Pty Limited held
on Dec. 13, 2005, the following special and ordinary resolutions
were passed:

That the Company be wound up as a members' voluntary liquidation
and that its assets may be distributed (in whole or in part) to
the members in specie, should the Liquidator so desire; and that
Mr. Stuart Ariff be appointed as the Company Liquidator.

Notice is also given that creditors having claim against the
Company should furnish particulars of that claim to the
Liquidator.

Dated this 14th day of December 2005

Stuart Ariff
Liquidator
Stuart Ariff Insolvency Administrators
Phone: 02 4929 7880
Fax:   02 4929 7882
Email: office@sariff.com.au
Web site: http://www.sariff.com.au


CHASESIDE PTY: Schedules Final Meeting Jan. 20
----------------------------------------------
Notice is hereby given that a final meeting of the members of
Chaseside Pty Limited will be held on Jan. 20, 2006, 2:00 p.m.
at Level 19, 207 Kent Street, Sydney NSW 2000, to have an
account laid before them showing the manner of the Company's
winding up and the disposal of its property, and to hear any
explanations that may be given by the Liquidator, and to
determine how the accounts, books and documents of the Company
and of the Liquidator shall be disposed of.

Dated this 17th day of November 2005

S. K. Preen
Liquidator
C/o HLB Mann Judd
Level 19, 207 Kent Street
Sydney NSW 2000


DECACRAFT PTY: To Declare First, Final Dividend
-----------------------------------------------
Decacraft Pty Limited will declare a first and final dividend on
Jan. 24, 2006.

Creditors whose debts or claims have not already been admitted,
are required to formally prove their debts or claims today, Jan.
13, 2006. If they do not, they will be excluded from the benefit
of the dividend.

Dated this 8th day of December 2005

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


EASY WAY: Wind Up Process Initiated
-----------------------------------
Notice is hereby given that at a general meeting of the members
of Easy Way Pty Limited held on Dec. 13, 2005, it was resolved
that the Company be wound up voluntarily, and that Mr. Michael
Edward Slaven of Rangott Slaven Hundy, Level 3, Engineering
House, 11 National Circuit, Barton ACT 2600 be appointed as
Liquidator for the winding up.

Dated this 10th day of January 2006

Michael E. Slaven
Liquidator
Rangott Slaven Hundy
Level 3, Engineering House
11 National Circuit, Barton
ACT 2600


FEINER INDUSTRIAL: Inability to Pay Debt Prompts Liquidation
------------------------------------------------------------
Notice is hereby given that at a meeting of Feiner Industrial
Equipment Pty Limited held on Dec. 16, 2005, the following
Special Resolution was passed:

That as it is unable to pay its debts as and when they fall due,
the Company be wound up voluntarily, and that Messrs. Peter
Rodgers and Daniel Civil be appointed as Joint Liquidators for
such purpose.

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


FELTEX CARPETS: Godfrey Hirst Increases Stake
---------------------------------------------
Australia's Godfrey Hirst has beefed up it shareholding in New
Zealand's Feltex Carpets Limited to 8.7 percent, Reuters
reports.

Feltex, meanwhile, is negotiating to team up with Godfrey Hirst,
which previously held 5.8 percent in the carpet maker.

Feltex directors last year rejected a proposal from Godfrey
Hirst they labeled a reverse takeover, which would not have
benefited Feltex shareholders.

Privately owned Godfrey Hirst is Australia's largest carpet
maker, while Feltex accounts for around 25 percent of carpets
made in New Zealand and Australia.

Shares in Feltex plunged to a record low of NZ$0.39 in June 2005
and have issued a number of profit downgrades, which the company
baled on a weaker Australian housing market, a strong New
Zealand dollar and tough competition.

CONTACT:

Feltex Carpets Ltd
Feltex Centre
145 Symonds Street
PO Box 2884
Auckland
Telephone: +64 9 379 1900
Fax: +64 9 379 1911
E-mail: feedback@feltex.com
Web site: http://www.feltex.com/


GOLDWEEK PTY: Creditors Need to Lodge Claims to Receive Dividend
----------------------------------------------------------------
Goldweek Pty Limited will declare a first and final dividend on
Jan. 26, 2006.

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

Dated this 18th day of November 2005

Jonathan Paul McLeod
Liquidator
C/o McLeod & Partners
Level 30, AMP Place, 10 Eagle Street
Brisbane Qld 4000
Phone: 07 3303 0173


G RETAIL: Two More Stores to Close Doors this Month
---------------------------------------------------
Two more G Retail Limited stores are scheduled to shut down by
the end of the month following the closure of another two,
reports Australian Associated Press.

Administrator Peter Yates of Deloitte Touche Tohmatsu said the
doors had closed at G Retail's Hornsby and Oxford Street outlets
in Sydney. He also confirmed the chain's landmark Market Street
store and a clearance outlet at Alexandria would also shut down
by the end of the month.

The closures come as sales wind up at both stores after a buyer
could not be found for the business before the Christmas
deadline.

G Retail called in administrators in November last year after
talks fell through with menswear chain Lowes Manhattan Pty Ltd
about a possible rescue buy-out. The 137-year-old retailer had
been plagued by three straight years of losses due to lackluster
performance at its suburban stores and worsened by a costly exit
from Parramata in 2005.

Administrators will announce whether unsecured creditors will
receive a dividend at a second creditors' meeting expected to
take place next month.

CONTACT:

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

Deloitte Touche Tohmatsu
PO Box N250 Grosvenor Place
225 George Street  
NSW 1217  
AUSTRALIA
Phone Number: +61 2 9322 7000
Fax Number: +61 2 9322 7001
Web site: http://www.deloitte.com


JALENIA PTY: Court Orders Winding Up
------------------------------------
On Dec. 12, 2005, the Supreme Court of New South Wales ordered
the winding up of Jalenia Pty Limited, and appointed Mr.
Geoffrey McDonald to be the Company Liquidator.

Geoffrey McDonald
Liquidator
Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000
Phone: 02 9263 2600
Fax:   02 9263 2800


JENBAR INVESTMENTS: Liquidator to Explain Winding Up to Members
---------------------------------------------------------------
Notice is hereby given that the final meeting of the members of
Jenbar Investments Pty Limited will be held on Jan. 20, 2006,
9:00 a.m. at the office of WHK Greenwoods Pty Limited, Level 15,
309 Kent Street, to present the Liquidator's final account and
report, and to give any explanation thereof.

Dated this 13th day of December 2005

Roger Penman
Liquidator
WHK Greenwoods Pty Limited
Level 15, 309 Kent Street
Sydney NSW 2000


LANC MASONRY: Creditors OK Liquidator's Appointment
---------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Lanc Masonry Pty Limited held on Dec. 23, 2005, it was
resolved that the Company be wound up voluntarily, and Mr. M. F.
Cooper was appointed as Liquidator for such purpose.

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

Dated this 23rd day of December 2005

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


MEDELINK INTERNATIONAL: Placed in Voluntary Liquidation
-------------------------------------------------------
Notice is hereby given that on Dec. 12, 2005, the following
special resolution was passed:

That Medelink International be wound up voluntarily relating to
a creditors' voluntary winding Up, and that Mr. K. L.
Sutherland, Chartered Accountant of Level 5, 332 St. Kilda Road,
Melbourne be appointed as Liquidator for such purpose.

Dated this 13th day of December 2005

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


MICHAEL FORDYCE: Enters Voluntary Liquidation
---------------------------------------------
Notice is hereby given that at a general meeting of the members
of Michael Fordyce (Insurance Broker) Pty Limited held on Dec.
12, 2005, it was resolved that the Company be wound up
voluntarily, and that Mr. Kenneth Michael Whittingham of BDO
Chartered Accountants & Advisers, 2 Market Street, Sydney be
appointed as Liquidator for the winding up.

Dated this 19th day of December 2005

Kenneth Whittingham
Liquidator
BDO Chartered Accountants & Advisers
Level 19, 2 Market Street
Sydney NSW 2000


MYER LIMITED: Harvey Firms Up on Takeover Plans
-----------------------------------------------
Harvey Norman is stepping up efforts to fully acquire troubled
department store chain Myer Limited, The Sydney Morning Herald
says.

The firm's chairman, Gerry Harvey, said the group was studying
all possibilities, including a solo bid as well as possibly
joining forces with a private equity group, and would lodge its
bid early next month for Myer.

Mr. Harvey, however, clarified his company has not made any
final decision yet since it is still undertaking due diligence.

Myer's parent Coles Myer is understood to be seeking a price
between AU$900 million and AU$1 billion for the 61 department
stores. This figure does not include the AU$400-million flagship
property in Bourke Street, Melbourne, which is being sold
separately.

The Westfield Group and Gandel, along with property development
company Lend Lease, are tipped to be potential buyers for the
Bourke Street site.

Meanwhile, rumors abound that the trade sale process is a
precursor to a demerger. The Coles Myer board said, however,
that it maintained the options of either keeping Myer or
demerging if the bids not reach its valuation of the assets.

The other short-listed bidders are South African retailer Edgars
Consolidated; private equity groups the Carlyle Group and
JPMorgan Capital, bidding jointly; Newbridge Capital in a
consortium with the Myer family; and CVC Asia-Pacific, which is
making a solo bid.

The final price is expected to hinge on Myer's Christmas trading
figures, which bidders are expecting to receive within the next
week or so.

CONTACT:

Myer Limited
295 Lonsdale Street
Melbourne Vic 3000
Telephone: (61 3) 9661 1111
Facsimile: (61 3) 9661 3770
Web site: http://www.myer.com.au


PRESFORM PTY: Court Issues Winding Up Order
-------------------------------------------
On Dec. 15, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of Presform Pty Limited, and
appointed Mr. Steven Nicols to be the Company Liquidator.

Steven Nicols
Level 2, 350 Kent Street
Sydney NSW 2000


PROLINE COMMERCIAL: Members Agree to Wind Up Firm
-------------------------------------------------
Notice is given that at a general meeting of the members of
Proline Commercial Lining Pty Limited held on Dec. 9, 2005, Mr.
Jason Bettles and Ms. Susan Carter, Registered Liquidators of
Downie Insolvency, Level 6, Fifty Cavill Avenue, Surfers
Paradise, Queensland were appointed as Liquidators in the
winding up of the Company.

Dated this 16th day of December 2005

Jason Bettles
Susan Carter
Liquidators
Downie Insolvency
Level 6, Fifty Cavill Avenue
Surfers Paradise, Queensland
Web site: http://www.downieinsolvency.com.au


QANTAS AIRWAYS: Rift with Union Widens
--------------------------------------
The dispute between Qantas Airways and its maintenance workers
were expected to heat up when the airline held talks with unions
yesterday pertaining to a new enterprise bargaining agreement,
reports The Sydney Morning Herald.

The talks came amid warnings for the carrier that it will need
to shift maintenance job overseas in order to slash costs.

The national flag carrier wanted its new enterprise agreement
with the Australian Manufacturing Workers Union (AMWU) and
Australian Workers Union (AWU) to cut the overtime and shift
allowances paid to maintenance staff.

The unions, however, refuse to surrender any of the existing job
conditions of their 2100 Qantas members during the negotiations.

AWU national secretary Bill Shorten said his union "got a clear
mandate from our members" not to make any concessions to the
airline.

Qantas also reportedly wanted to change the existing condition
where maintenance workers work an average of 38 hours a week
over four weeks. The airline now wants to average this out over
six months, meaning maintenance staff will work long hours with
no overtime during busy periods and fewer hours during quiet
times.

The AMWU has warned it will not buckle to the airline's
"threats" of having to send work to Asia if it does not manage
to cut the costs of its Australian operations.

However, despite the standoff between Qantas and the unions, Mr.
Shorten said talk of strike action was premature.

CONTACT:

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


QANTAS AIRWAYS: Expands Regional Queensland Services
----------------------------------------------------
The Qantas Group's regional subsidiary QantasLink will increase
its Queensland capacity by 18 per cent as its new Bombardier
Q400 aircraft come into service over the coming months.

Qantas Executive General Manager Regional Airlines Narendra
Kumar said the first of the new aircraft arrived in Brisbane
this week, in preparation for entry into service on 26
February*.

"We are dedicating five of QantasLink's total order of seven new
Q400s to Queensland," Mr Kumar said.

He said the new 72-seat Bombardier Q400, which was both larger
and faster than the airline's current Dash 8 fleet, would enable
QantasLink to provide more than 240,000 additional seats each
year into 12 Queensland ports.

He said the new Q400s would operate between:

* Brisbane and Rockhampton - increasing seats by 16 per cent;
* Brisbane and Gladstone - increasing seats by 22 per cent;
* Brisbane and Emerald - increasing seats by 37 per cent;
* Rockhampton and Mackay - increasing seats by 24 per cent;
* Mackay and Townsville - increasing seats by 26 per cent; and
* Townsville and Cairns - increasing seats by 21 per cent.

"Flying the Bombardier Q400 on some of the services on these
routes also gives us the flexibility to redirect other capacity.

"For example, we will be able to operate 50-seat Dash 8-Q300
aircraft alongside our 36-seat Dash 8 aircraft on services to
Bundaberg, Longreach, Roma and Charleville, to provide more
seats," Mr. Kumar said.

"In addition to boosting capacity by upgrading aircraft,
QantasLink will also add an extra flight to Weipa and Roma," he
said.

Mr. Kumar said QantasLink had already announced new double-daily
Q400 return services between Brisbane and Mackay, which would
commence from April 2006.

"Tourism and business sectors across Queensland will benefit
from the additional capacity and the introduction of the
Bombardier Q400 on key routes at peak demand times."

Mr. Kumar said QantasLink would also operate a daily direct Q400
service between Brisbane and Canberra from April 2006, adding
more than 1,000 extra seats on the route each week for the
Qantas Group.

"The QantasLink flight will depart Canberra at 3.45 pm which is
timed to connect with flights to Queensland ports beyond
Brisbane.

"QantasLink is the first airline in the Southern Hemisphere to
offer customers this new aircraft type," Mr. Kumar said.

"We have made a significant investment in the Bombardier Q400
aircraft, with seven scheduled for delivery by July 2006 and
purchase rights and options over an additional 10 aircraft."

Mr. Kumar said the Bombardier Q400 featured jet-like speed with
new engine and propeller systems.

"Flying at 360 knots, this aircraft reduces flight times
compared to our current services, giving us the potential to
operate additional frequencies on some sectors," he said.

"This $200 million investment in new aircraft is a reflection of
the Qantas Group's commitment to regional Australia.


ROEDEAN PTY: Liquidator to Detail Wind Up Manner
------------------------------------------------
Notice is hereby given that the final meeting of the members of
Roedean Pty Limited will be held on Jan. 20, 2006, 9:00 a.m. at
70 Davrod Street, Robertson, for the following purposes:

(a) To receive an account from the Liquidator.

(b) Pass a resolution to destroy the books and records of the
Company.

(c) To consider any other business.

Dated this 13th day of December 2005

Dennis Joseph Rynne
Liquidator
70 Davrod Street, Robertson Qld 4109


TELSTRA CORPORATION: Job Cuts Begin
-----------------------------------
Telstra Corporation has reportedly started axing workers as part
of its five-year retrenching program, The Advertiser reveals.

Around 200 IT workers were among the first of 12,000 jobs to go
over the next five years.

Some workers are worried they are being replaced by contractors
in countries such as India.

But the beleaguered telco denied any staff had yet been made
redundant but said there would be "reduction in the number of
roles" beginning February 1.

CONTACT:

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


TURNER RESEARCH: Receiving Claims Until Jan. 30
-----------------------------------------------
Notice is given that the creditors of Turner Research Pty
Limited, whose debts or claims have not already been admitted,
are required to submit particulars of their debts or claims and
of any security held by them to the Company Liquidator on or
before Jan. 31, 2006.

If subsequently required by written notice from the said
Liquidator, they must formally prove their debts or claims and
establish any title they may have to priority by a written
statement. If they do not comply with this notice, they will be
excluded from:

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

(b) Objecting to the distribution.

Dated this 22nd day of December 2005

Daniel I. Cvitanovic
Liquidator
Level 1, 121-123 Crown Street
Wollongong NSW 2500


VOLANTE GROUP: Board Unanimously Rejects Commander Bid
------------------------------------------------------
The Board of Volante Group Limited on Thursday unanimously
resolved to reject the AU$1.01 a share offer from Commander
Corporation Pty Limited viewing it as absurdly low,
opportunistic, and to be ignored.

The offer fails to take into account the underlying strengths of
Volante's business and the signif8icant opportunities available
to Volante.

The offer also ignores the substantial strategic benefit the
acquisition would being to Commander in the IT services sector.

Volante Chairman Mr. Robin Crawford said, "The bid cannot be
taken seriously and the Volante directors are unanimous in
rejecting this low-ball offer.

"In fact, I and Volante's managing director Ian Penman have been
recently acquiring stock. My interest in the company now stands
at just under 4 percent. None of the Volante directors intends
to accept for any of their holdings.

"The growth engine in Volante is its IT services division which
now accounts for over half of Volante's profit and is in an
industry segment where margins are strong.

"Commander is fully aware of the strength of Volante's IT
services division and as a result of our friendly discussions
early last year they gained valuable insights into our business
and would understand the strategic benefit and indeed the
potentially transforming nature of acquiring Volante.

"Clearly Commander wants to access these strategic benefits
without giving Volante shareholders any value for them."

Mr. Crawford said, "It is disingenuous for Commander to latch on
to Volante's announced earnings downgrade last November to
justify its low-ball bid. Their offer implies valuation
multiples that are out of step with trading multiples for the IT
services sector let alone transaction multiples.

"The Commander bid fails completely to take into account the
growing strength of Volante's services businesses where it
enjoys a 'blue chip' client roster including Telstra, Thiess and
Santos, as well as numerous state and Federal government
departments.

"Whilst our products business has failed to meet our
expectations recently, we have taken steps to cut costs out of
this division and will be taking further steps to improve
margins in that business."

Mr. Crawford said the unacceptable pricing of the Commander
offer had not escaped the attention of a number of equity
analysts who also have characterized the Commander bid as 'low
ball' and 'cheeky'.

"[T]he Board's considered view is that the offer should be
rejected."

"In approximately two weeks, we will be dispatching a Target's
Statement which will contain our formal response to Commander's
offer and provide further detail of the Board's reasons for
unanimously recommending that Volante shareholders reject the
Commander offer. Shareholders should do nothing until they have
considered all of the information in the Target's Statement,"
said Mr. Crawford.

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


VOLANTE GROUP: Board Consigns Stock to Pre-bid Lows
---------------------------------------------------
Commander is disappointed by Volante Group Limited's recent
decision to recommend shareholders reject its AU$1.01 per share
cash offer (Offer).

This rejection may consign Volante's stock to pre-offer share
prices, which were as low as 65 cents in early December 2005.

In response to Volante's Board decision, Commander's Managing
Director, Mr. Adrian Coote, said:

" Volante's decision to reject the Commander Offer denies its
shareholders a fair cash price, and certainty at a time when the
company's future is uncertain.

"Shareholders for Volante are entitled to more clarity given
Volante's recent earnings downgrade," Mr. Coote said.

"If Volante's directors believe Commander's Offer is not fair,
then they should immediately provide their shareholders with a
comprehensive update on the operational and financial
performance of the business.

"Volante shareholders are entitled to expect meaningful
disclosure regarding the outlook for their company."

To assess Commander's Offer, Volante shareholders are entitled
to know:

- Is the business as a whole performing to market expectations?

- Does the troubled products business continue to underperform
expectations?

- What steps are being taken to turn around the products
business and at what cost to Volante as a whole?

- How do the directors assess the financial and operating
outlook for the financial year ending June 30, 2006?

- Can or will Volante maintain the dividends of prior years?

Commander, along with Volante shareholders, looks forward to
quantification of the Volante Board's expectations for the
future of the company.

"The Commander Offer provided fair value to Volante
shareholders, and we believe the likelihood of an alternative
buyer, at a higher price than that offered by Commander, is
low," Mr. Coote said.

Mr. Coote said Commander's Offer represents a 25% premium to the
volume weighted average share price of Volante in the month
prior to announcement of the Offer.

"By accepting Commander's offer, shareholders can have the
certainty of cash for their shares now instead of taking a leap
of faith that Volante management will turn around the company's
fortunes," Mr. Coote said.


YANNLEA PASTORAL: Prepares to Close Shop
----------------------------------------
Notice is hereby given that at a general meeting of members and
creditors of Yannlea Pastoral Company Pty Limited held on Dec.
20, 2005, it was resolved that the Company be wound up
voluntarily, and Mr. Gregory Stuart Andrews of G. S. Andrews &
Associates, 22 Drummond Street, Carlton 3053 was appointed as
Liquidator for such winding up.

Dated this 20th day of December 2005

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


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

BANK OF CHINA: Temasek Gets Nod for 5% Stake Buy
------------------------------------------------
Temasek Holdings can buy 5 percent of Bank of China (BOC) after
being approved by the State Council and banking regulator, The
Standard reports.

They also approved stake purchases by three other foreign
investors, according to a source.

The Chinese lender has been urged by the central government to
restructure, attract foreign strategic investors and seek stock
market listings before the country's financial sector becomes
fully open to foreign banks at the end of this year.

BOC may raise more than HK$60 billion through an initial public
offering in Hong Kong before June.

CONTACT:

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


CHOY LEE: Court Issues Winding Up Order
---------------------------------------
Choy Lee Engineering Company 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 28,
2005.

The company's registered office is located at Workshop NO. 5
23/F Wing Hing Industrial Building No. 83-93 Chai Wan Kok Street
Tsuen Wan New Territories.

Date of Presentation of Petition: November 7, 2005

Dated this 6th day of January 2006

E T O'CONNELL
Official Receiver


HONG KONG CONSTRUCTION: Clarifies Joint Tender Report
----------------------------------------------------
Hong Kong Construction (Holdings) Limited refers to the recent
reports appearing in Hong Kong and the PRC in relation to the
Company's joint tender with Sinar Mas Paper (China) Investment
Co., Ltd. (APP China) for a piece or parcel of land situated in
Shanghai.

The Company announced that the Company and APP China has been
selected by the Buildings, Lands and Resources Bureau of
Shanghai Municipality (Shanghai BLRB) as one of the eligible
tenderers for a piece or parcel of land situated north of the
International Passenger Transportation Terminal of Hongkau
District of Shanghai Municipality (Site).

The portion of the Site subject to sale by tender occupies site
area of approximately 56,670.32 sq. m. If the joint tender
submitted by the Company and APP China is successful, the
parties will establish a joint venture (Intended Joint Venture)
in the People's Republic of China (PRC) to hold and develop the
Site.

The Intended Joint Venture, if materializes, may be discloseable
and subject to the necessary shareholders' approval (if
required) under the provisions of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong Limited
(Listing Rules). No definitive and legally binding agreements or
contracts have been signed by the Company and APP China as
regards the detailed commercial terms of the establishment and
operation of the Intended Joint Venture as at the date of this
announcement.

The Company and APP China will have to submit the final tender
by the end of this month. The Company will issue an announcement
in accordance with the Listing Rules if the Intended Joint
Venture materializes.

As the Intended Joint Venture is still subject to condition(s)
and as at the date of this announcement, the tender process has
not yet been completed, shareholders of the Company and the
investing public should exercise caution in dealing in the
shares of the Company.

By order of the board
Hong Kong Construction (Holdings) Limited
OEI Kang, Eric
Managing Director and Chief Executive Officer
Hong Kong, 11 January 2006


HUANENG POWER: Plans to Raise Capital
-------------------------------------
Huaneng Power International Co., Ltd (SSE: 600011) held the
board meeting recently, during which the following proposals
received approval, Panorama News relates.

The company proposed to raise capital through debt financing. A
total of CNY15 billion asset backed debt financing instruments
will be issued on the domestic market within 15 months upon
approval from the company's shareholder's meeting.

In addition, a total of CNY5 billion short-term financing bonds
will be issued domestically within 12 months upon approval from
the company's shareholder's meeting.

CONTACTS:

Huaneng Power International Inc.
40 Xueyuan Nanlu
Haidian District
Beijing, PRC  
Phone: 25288900  
Fax: 25245599  
Web site: http://www.hpi.com.cn  


INDUSTRIAL AND COMMERCIAL: To Launch Overseas Banking Service
-------------------------------------------------------------
The Shanghai Branch of Industrial and Commercial Bank of China
(ICBC) recently has launched overseas financial consulting
service, relates SinoCast.

The branch offers consulting service to students studying abroad
and immigrants by utilizing the advantages of ICBC's several
overseas branches and ICBC (Asia) Limited. Therefore, the local
high-end clients could invest in funds, bonds, futures, noble
metals and foreign exchange.

The funds include open-end fund, guarantee funds, and the
futures involve various kinds of future products in Hong Kong,
America, Japan and Singapore.

This new service is only available in China's some cities such
as Beijing and Shanghai.

CONTACT:

Industrial and Commercial Bank of China (Asia) Limited
ICBC Tower, 3 Garden Road
Central, Hong Kong
Phone: 25343333
Fax: 28051166
Web site: http://www.icbcasia.com


LANDUNE INTERNATIONAL: To Clarify Winding Up Status
---------------------------------------------------
At the request of Landune International Limited, trading in its
shares has been suspended with effect from 9:41 a.m. pending an
announcement to clarify the winding up petition status.

The Group is engaged in the property development, construction
and construction-related businesses, utility projects, service
apartments and maintenance business, projects in the high
technology, communication and telecommunications fields and
cement plan.

CONTACT:

Landune International Limited
Units 2201-2, ING Tower
308 Des Voeux Road Central
Sheung Wan, Hong Kong  
Phone: 28773389  
Fax: 25586523  


LINK TREASURE: Winds Up Business
--------------------------------
Link Treasure 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 28, 2005.

The company's registered office is at LG & UG Floors 8 Jordan
Road Kowloon.

Date of Presentation of Petition: November 7, 2005

Dated this 6th day of January 2006

E T O'CONNELL
Official Receiver


NINGBO SUCCESS: Notes Shares Price Plunge
-----------------------------------------
Trading in the stock of Ningbo Success Information Industry Co.,
Ltd. has dropped to the down-limit on the daily price
fluctuation in the three consecutive trading days, Panorama
Network reports.

The company's shares has been put under the special treatment of
delisting risk warning since January 5, 2006 due to the
company's failure in disclosing its revised previous accounting
reports on time. In the event the company could not reveal the
correction of accounting errors within two months, its share
trading might be suspended.

The company predicted that it would record losses for the fiscal
2005.

CONTACT:

Ningbo Success Information Industry (Group) Company Limited
12AF Ningbo Jinrong Bldg.
138 Jiangdong N Rd.
Ningbo City , China
Phone: 86 0574 8773 0365
Fax: 86 0574 8737 4078


TRUMP CAPITAL: Winding Up Hearing Slated for Feb. 8
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Trump Capital Investment Limited by the High Court of Hong Kong
Special Administrative Region was on December 19, 2005 presented
to the said Court by Lee Kai Tung David of Flat A on 21st Floor
of Block 2 of Carmen's Garden, No. 9 Cox's Road, Kowloon, Hong
Kong.  

The said Petition is directed to be heard before the Court at
9:30 a.m. on February 8, 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.

Kwok, Ng & Cahn
Solicitors for the Petitioner
9th Floor, Dah Sing Life Building
99 Des Voeux Road Central
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the abovenamed,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the abovenamed not
later than six o'clock in the afternoon of February 7, 2006.

         
YETCHEONG COMPANY: Prepares to Shut Down Operations
---------------------------------------------------
Yetcheong (Hong Kong) Company 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 28,
2005.

The company's registered office is at Flat 10 3/F Blk A hong
Shui Court 133 Pik Wan Road Lam Tin Kowloon.

Date of Presentation of Petition: November 7, 2005

Dated this 6th day of January 2006

E T O'CONNELL
Official Receiver


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

BHARAT PETROLEUM: Facing Losses in Sale of LPG
----------------------------------------------
Bharat Petroleum Corp Ltd (BPCL) is losing substantial amounts
on sale of every liquefied petroleum gas (LPG) cylinder and
every liter of diesel, according to The Economic Times.

The state refiner bleeds INR195 on sale of every LPG cylinder
and INR2 on every liter of diesel, as domestic prices plunge
below international rates.

The company is also losing INR10 per liter of kerosene, as
current prices of petrol barely offsets the cost. Petrol and
diesel prices were last raised in September 2005.

BPCL will import 12 million tonnes of crude oil next fiscal
year, a 20 percent hike from the current year. Of the 12 million
tonnes imports planned in 2006-07, 8.5 million tonnes would be
through term contract.

BPCL, which operates a 12 million tonnes refinery at Mumbai and
owns 7.5 million tonnes Kochi Refinery, would raise term
supplies from Saudi Arabia to 3.5 million tonnes from 3 million
tonnes.

Term imports from Kuwait would rise to two million tonnes while
imports from Brunei would halve to about 5,000 barrels per day.
Other term suppliers include Abu Dhabi at 10,000 bpd, Libya at
5,000 bpd, and Malaysia at 10,000 bpd.

CONTACT:

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


CRANEX LIMITED: To Reconsider, Approve Rehab Scheme Draft
---------------------------------------------------------
Cranex Limited advised that at the hearing held on December 26,
2005, the Board for Industrial & Financial Reconstruction (BIFR)
declared the Company a sick Industrial Company in terms of
Section 3(1)(0) of the Sick Industrial Companies (Special
Provisions) Act 1985 and appointed PICUP as the Operating Agency
u/s 17(3) of the Act to examine the viability of the Company and
submit its report within, four weeks after receipt of
Rehabilitation Scheme from the Company which the Company has to
submit within four weeks from the date of order.

The Company's proposed Rehabilitation Scheme primarily envisages

a. Reduction of existing share capital u/s 100(b) of the
Companies Act 1956 by 95% as the entire net worth is completely
eroded and permanently lost.

b. Infusion of required working capital by issue of fresh Equity
u/s 81(1A) of the Companies Act 1956 on preferential basis.

The Board Meeting was convened on January 11, 2006, to discuss
all related matters when it was decided to adjourn the meeting
to January 16, 2006, to reconsider and approve the Draft
Rehabilitation Scheme incorporating the various points discussed
in the meeting held on January 11, 2006.

CONTACT:

Cranex Limited
9, DDA Market, Katwaria Sarai,
Opp Qutab Hotel
New Delhi 110016  
Delhi  
Fax: 6146961   


JCT LIMITED: Illegal Strike Disrupts Textile Unit's Operations
--------------------------------------------------------------
JCT Limited announced that the workers of the Company's Textile
Unit at Sriganganagar have gone on an illegal strike, disrupting
the Mill's functions.

During 2004-05 Sriganganagar Unit had generated total sales
turnover of INR618.70 million (Company as a Whole INR6477.30
million) and incurred EBIDTA Loss of INR2.90 million (Company as
whole EBIDTA Profit INR584.00 million).

CONTACT:

JCT Limited
Village Chohal
Hoshiarpur 146024  
Punjab  


NEHA INTERNATIONAL: Notes Change in Directorate
-----------------------------------------------
Neha International Ltd announced that Mr. P Ramalinga Reddy,
Promoter Director has been resigned from the board w.e.f. June
06, 2005.

Mr. P Sarath Kumar has been appointed as Director w.e.f. June
06, 2005.

CONTACT:

Neha International Ltd
B, Paigah Compound,
38, Indian Airlines Colony, Begumpet
Secunderabad 500003  
Andhra Pradesh  
Phone: 27901391     
Fax: 27901391   


ROCK HARD: Receives Call Arrears; Rules Out Shares Split
--------------------------------------------------------
Rock Hard Petrochemical Industries Ltd advised about the
following details:

1. The Company has received call in arrears of INR5/- per share
for 30500 shares i.e. INR1,52,500 as on December 31, 2005 the
paid up capital of the Company has changed from INR7,59,52,500/-
to INR7,61,05,000/-.

2. Shareholders of the Company have not passed the special
resolution for split of shares from the existing denomination of
INR10/- to INR1/- per share in an Annual General Meeting of the
Company held on December 31, 2005.

CONTACT:

Rock Hard Petrochemical Industries Ltd
203, Amar Darshan, 28/2, Old Palasia,
Anand Bazar Square
Indore 452018  
Madhya Pradesh  
Phone: 2566567 5070466 5070069   
Fax: 2566568   


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

KIANI KERTAS: United Fiber Pursues Bid Despite Rejection
--------------------------------------------------------
Singapore's United Fiber System Limited (UFS) will continue with
its planned acquisition of troubled Indonesian paper mill PT
Kiani Kertas despite being rejected by the Company's largest
creditor, reports Asia Pulse.

As the Company's largest creditor, state lender PT Bank Mandiri
has the power to accept and reject offers to acquire the
Company. The bank had earlier rejected a takeover proposal by
UFS, stating that the proposal didn't meet its criteria.

UFS stated that since it had already signed an initial agreement
with Kiani Kertas shareholder Kingsclere Finance Limited, it
would continue the process of acquiring the Company, but would
negotiate with Bank Mandiri in the acquisition process.

Bank Mandiri's rejection of UFS' takeover proposal paved the way
for billionaire Putera Sampoerna to offer IDR3.76 trillion to
acquire the Company.

CONTACT:

PT Kiani Kertas
Bidakara Building, 9th Floor
Jl. Gatot Subroto Kav. 71-73
Jakarta, 12870
Indonesia
Phone : +62(021)8379-3211
Fax:    +62(21)8379-3215
Web site: http://www.kiani.com


MERPATI NUSANTARA: Reopens 40 Local Routes
------------------------------------------
Ailing state airline PT Merpati Nusantara will now reopen 40
domestic routes that had been closed for the past two years, the
Jakarta Post reports.

According to Merpati Nusantara Corporate Secretary Jaka
Pujiyono, the Company received an initial IDR75 billion cash
injection from the government, as part of a plan to help
restructure its debts.

The funds, which are part of a planned  IDR450 billion cash
injection into the Company, will also go to repairing old
aircraft and purchasing new airplanes to service pioneer routes
nationwide.

The House of Representatives had earlier approved the proposed
cash injection to enable Merpati Nusantara to restructure a
IDR1.6 trillion debt, as well as facilitate a debt-to-equity
swap of its obligations to the government, state banks and other
state firms. However, since the government is also cash-
strapped, it has stipulated that it would disburse the IDR450
billion in installments.

The Company currently owes IDR164 billion to Bank Mandiri, IDR95
billion to Bank Danamon, and IDR92 billion to the government.

With the reopening of the domestic routes slated for this
quarter, Merpati Nusantara hopes to reach its target revenue of
IDR1.5 trillion.

CONTACT:

Merpati Nusantara Airlines
PO Box 323, Jln. Angkasa
Block 815 Kav 2-3
Jakarta 10720 Indonesia
Phone: +61 (0) 8 8941 1606
Fax:   +62 21 654 6789
Web site: http://www.merpati.co.id


PERTAMINA: Doubling Gas Fuel Prices
-----------------------------------
State oil and gas firm PT Pertamina is planning to raise its gas
fuel prices by 100% to IDR3,000 per liter due to high global gas
prices, reports Asia Pulse.

According to Pertamina Manager for the domestic gas market Edwin
Bakti, an increase in global gas prices to USD5 per million
british thermal unit has led to the new gas price of IDR3,000
per liter. He did not say when the Company would increase gas
prices.

Due to the low demand for gas fuel, only 8 out of 17 gas
stations are currently operating in Jakarta; demand for gas fuel
in Jakarta and nearby areas is expected at 200,000 liters per
month.

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


PERUSAHAAN LISTRIK: Cuts Power to Aceh, North Sumatra
-----------------------------------------------------
State power firm PT Perusahaan Listrik Negara (PLN) began
cutting power to Nanggroe Aceh Darussalam and North Sumatra for
two hours on a daily basis, the Jakartta Post reports.

Residents complained that they were not informed about the
blackouts ahead of time.

The rolling blackouts will occur during peak hours (between 6:00
p.m. to 10:00 p.m.) for the next 52 days, and will affect Aceh
and North Sumatra, but not the rest of Sumatra island.  During
peak hours, PLN would prioritize residential areas over
industrial districts. But if power consumption would increase
outside peak hours, the Company will cut power in residential
areas before doing the same to business districts.

PLN Spokesman Agus Muliadi said that the rolling blackouts were
necessary due to maintenance work being done on a generator at
the Company's 20 year-old power plant in Belawan.

At present, the daily consumption rate stands at 1,080
megawatts, but due to the maintenance work being conducted on
the generator, the plant would be able to supply only 985
megawatts of power. The scheduled maintenance was to be
conducted last August, but was delayed in observance of the
fasting month of Ramadhan and the Christmas holidays.
Spokesman Muliadi warned of future blackouts, as PLN cannot cope
with demand that increase by 7% on an annual basis.

CONTACT:

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


PERUSAHAAN LISTRIK: Government Seeks Lower Fuel Sale Price
----------------------------------------------------------
The government urged state oil firm PT Pertamina to look into
lowering the prices of fuel oil sold to state power firm PT
Perusahaan Listrik Negara (PLN), reports Asia Pulse.

According to Minister of Energy & Mineral Resources Purnomo
Yusgiantoro, lowering the price of fuel sold to PLN would
decrease the power firm's fuel subsidy needs. PLN's fuel
subsidies are slated at IDR38 trillion.

He added that Pertamina lowered the price of industrial fuels to
IDR5,100 per liter from IDR6,000 per liter, and would check
whether the Company was able to lower the amount even further.

The government is also reviewing whether it would be best to set
a fixed rate for the price of fuel oil sold to PLN, making it
easier to calculate its fuel subsidy. It remains to be seen
whether the electricity tariff would be raised, as talks are
still ongoing.

Pertamina said that by law, it cannot sell fuel oil below market
prices unless the government provides it with a fuel subsidy.


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

DAIEI INCORPORATED: Revenues Down 9.1% on Slack Sales
-----------------------------------------------------
Daiei Inc.'s revenues in the third quarter dropped 9.1 percent,
on the comparable period a year ago, to JPY1,272.69 billion,
Just-food.com reports.

The supermarket chain operator blamed the fall to weak sales at
its supermarkets and the closure of a number of its loss-making
stores.

A report by Jiji Press said group operating profit in the period
totaled JPY27,239 million. Net profit reached JPY417,825
million. However, this figure was in part achieved due to a
special profit related to creditor banks' debt forgiveness.

The company is undergoing a rescue package laid out by the
government-backed Industrial Revitalization Corporation of
Japan.

CONTACT:

The Daiei, Inc.
4-1-1, Minatojima Nakamachi, Chuo-ku
Kobe 650-0046, Japan
Phone: +81-78-302-5001
Fax: +81-3-3433-9226


FUJITSU LIMITED: To Construct New Logic Chip Factory
----------------------------------------------------
Fujitsu Limited announced that it will construct a new fab to
mass-produce logic semiconductors employing leading-edge 65-
nanometer (nm) process technology and 300 millimeter (mm)
wafers.

The fab will be constructed at Fujitsu's Mie semiconductor
plant, in Mie prefecture of central Japan, as the second 300mm
fab of the plant and will be referred to as 300mm Fab No.2. In
addition to accommodating increasing demand for semiconductors
produced using advanced processes through construction of the
new fab, by continuing to offer optimized solutions and high-
performance products based on leading-edge technologies, Fujitsu
will continue to be a trusted business partner to its customers.

300mm Fab. No.2, which will feature a dual-level clean room
structure, is scheduled to be constructed within fiscal 2006
(April 2006 - March 2007) and become operational from April
2007, with volume shipments expected to start from July 2007.

During the two-year period till the end of fiscal 2007, Fujitsu
will invest approximately 120 billion yen in the new fab and
production capacity will reach 10,000 wafers per month. Further
investments will be made in stages as the company evaluates
trends in market demand. Fujitsu expects the maximum capacity of
the facility will be 25,000 wafers per month.

300mm Fab. No.1, the first 300mm fab that was constructed at the
Mie plant with a line for mass production of 300mm wafers
employing 90nm technology, has been operational since April 2005
and will reach a production capacity of 15,000 wafers per month
in fiscal 2006.

Fujitsu has been highly praised by its customers for its ability
to offer advanced process technologies which realize high-speed
operation and low power consumption simultaneously, a
competitive edge made possible by its transistor technologies
and copper wiring and low-K(*1) process technologies, in
addition to receiving high marks for its design
methodologies(*2) which enable first-shot full operation(*3).
Fujitsu is continuously in negotiations with various global
technology partners, and expects that from fiscal 2007, demand
will significantly exceed the production capacity of its
currently operating 300mm Fab. No.1.

By constructing the 300mm Fab No.2 with a dual-level clean room
structure capable of easy expansion of capacity, Fujitsu will
ensure a stable supply of leading-edge logic chips to its
customers.

Overview of 300mm Fab No.2
1. Process Technologies: 65nm and 90nm CMOS Logic
2. Wafer Diameter: 300mm
3. Structural Features: Seismic-vibration control construction;
clean room area: 24,000 sq. meters (At maximum capacity)
4. Production Capacity: 10,000 wafers per month (Projection for
fiscal2007); maximum capacity of 25,000 wafers per month
5. Planned Start of Operation: April 2007

Overview of 300mm Fab No.1
1. Process Technologies: 90nm and 65nm CMOS Logic
2. Wafer Diameter: 300mm
3. Structural Features: Seismic-control construction; clean room
area: 12,000 sq. meters
4. Production Capacity: 15,000 wafers per month (within fiscal
2006)
5. Start of Operation: April 2005

Overview of the Mie Plant
1. Location: Kuwana city, Mie prefecture, Japan
2. Employees: Approximately 1,400 employees (including
affiliated companies)
3. Main Products: 90nm, 130nm and 180nm technology COTs, ASICs,
ASSPs, MCUs

Glossary

*1. Low-K material:
A layered insulating material having a low specific dielectric
constant.

Effective for reducing capacitance within interconnect layers,
the leading-edge technology is used to realize ultra high-speed
operation and low power consumption.

*2. Design methodologies:

Method for designing leading-edge large-scale integrated
circuits (LSIs) within a short period of time.

*3. First-shot full operation:
Design methodology for advanced LSIs which enables full
functionality from initial trial chips.

About Fujitsu Limited

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

CONTACT:

Public and Investor Relations
Fujitsu Limited
Web site: https://www-
s.fujitsu.com/global/news/contacts/inquiries/index.html


HITACHI LIMITED: Launches Ecoheart Permanent Magnet Motors
----------------------------------------------------------
Hitachi America, Ltd., Power and Industrial Division, announced
the new Ecoheart family of high efficiency permanent magnet
motors and drives.

Ecoheart represents a new era in drives technology. Ecoheart is
targeted to OEMs, allowing them to create their own customized
drive system.

Compared with conventional standard induction motors, Ecoheart
permanent magnet technology achieves 10% higher efficiency
because the internal power loss is reduced by 50%. Also, the
volume of the motor is reduced by 50% and the weight by 35% due
to high performance magnets and a new method of winding the
stator. With the sinusoidal motor current wave form developed,
instead of trapezoidal wave form which typical permanent magnet
motors employ, Ecoheart achieves low torque ripple, low
vibration and acoustic noise and much reduced harmonics.

Ecoheart Drives have no standard form factor and can be OEM
unique. In the current release, Ecoheart performance is
optimized for Water Pump Applications and will be expanded in
the future to other application such as Fans, Compressors,
Conveyors, where more and more energy savings and downsizing are
critical.

For more information, please contact www.hitachi.us/inverters or
inverterinfo@hal.hitachi.com.

Hitachi America, Ltd., Power & Industrial Division supplies a
broad range of Industrial and Power generation products and
services. The division supplies major equipment to power
generation and distribution facilities, including hydroelectric,
thermal and nuclear power plants. The division also supplies
sophisticated industrial equipment and components for
application in pharmaceutical plants, food & beverage
processing, steel making, mass transit systems, chemical plants,
and other manufacturing facilities.

Hitachi America, Ltd., a subsidiary of Hitachi, Ltd., markets
and manufactures a broad range of electronics, computer systems
and products, and consumer electronics, and provides industrial
equipment and services throughout North America. For more
information, visit http://www.hitachi.us.

Hitachi, Ltd., headquartered in Tokyo, Japan, is a leading
global electronics company with approximately 347,000 employees
worldwide. Fiscal 2004 (ended March 31, 2005) consolidated sales
totaled 9,027.0 billion yen ($84.4 billion). The company offers
a wide range of systems, products and services in market sectors
including information systems, electronic devices, power and
industrial systems, consumer products, materials and financial
services.

Note: Ecoheart is a brand name of Hitachi, Ltd.

CONTACT:

Hitachi Limited
4-6, Kanda-Surugadai, Chiyoda-ku
Tokyo 101-8010, Japan  
Phone: +81-3-3258-1111
Fax: +81-3-3258-2375
Web site: http://www.hitachi.com


HITACHI LIMITED: Units to Unify Clinical Testing System Business
----------------------------------------------------------------
Hitachi High-Technologies and Hitachi Systems & Services jointly
have reached an agreement on the reorganization of the Hitachi
group's clinical laboratory information system business, Comtex
Business reports.

Specifically, Hitachi Systems will take over the clinical lab
information system operations currently conducted by Hitachi
Science Systems, a wholly owned subsidiary of Hitachi High-Tech,
in April.

Accordingly, Hitachi Systems will strive to provide
comprehensive service to small to large-scale medical facilities
and consolidate its foothold in the clinical lab information
system business.

The company aims to achieve annual sales of JPY1 billion ($8.5
million) by 2008 in the domestic market that is expected to
reach JPY7 billion ($60 million).

Hitachi High-Technologies Corporation was formed by the
combination of trading company Nissei Sangyo with the former
Instruments Group and Semiconductor Manufacturing Equipment
Group of Hitachi.

Hitachi Systems & Services, a member of the Hitachi Group is one
of the largest providers of systems integration services in
Japan. We help businesses implement growth strategies and
leverage technology.

CONTACT:

Hitachi High-Technologies Corporation
24-14 Nishi-Shimbashi 1-chome
Minato-ku
Tokyo 105-8717, Japan  
Phone: +81-3-3504-7111
Fax: +81-3-3504-7123

Hitachi Systems & Services
JR Shinagawa East Building
2-18-1 Konan, Minato-ku
Tokyo, 108-8250, Japan
Phone: +81-3-6718-5700  


HITACHI LIMITED: Strengthening Thai Operations
----------------------------------------------
Hitachi Tool Engineering Ltd., a unit of Hitachi Limited, is
boosting sales in Thailand to capitalize on projected demand
growth in the country, according to Asia in Focus.

In December, the firm set up a new sales site in Bangkok and
assigned to it sales representatives from Japan who will help
unify activities among agents to better respond to customer
needs.

Little demand growth is expected in Japan, so firms like Hitachi
Tool are looking to expand business overseas.

CONTACT:

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


MITSUBISHI MOTORS: To Issue 4th Series, Class G Preferred Shares
----------------------------------------------------------------
Mitsubishi Motors Corporation, at a special meeting of the Board
of Directors, on Thursday resolved to issue 4th series, Class G
preferred shares in a third party allocation. Details of the
issuance are as follows:

4th Series, Class G Preferred Shares:

Share Issuance 30,000 shares
Capital Amount 30 Billion Yen
Recipient Mitsubishi Corporation
Subscription Date: January 30, 2006

This issuance of preferred shares is part of Mitsubishi Motors'
capital raising plans as outlined in the Mitsubishi Motors
Revitalization Plan, a management plan covering the period
through fiscal 2007, which was announced on January 28, 2005. As
noted in the management plan, this capital injection was
scheduled to occur during fiscal 2005. The capital will be used
for research & development, capital expenditures, and other
capital needs.

With this issuance, Mitsubishi Motors has now completed its non-
borrowing related capital raising plans as outlined in the
Mitsubishi Motors Revitalization Plan.

CONTACT:

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


MITSUBISHI MOTORS: U.K. Sales Up 6% in 2005
-------------------------------------------
Mitsubishi Motors U.K. recorded a new vehicle sales record of
38,345 in 2005, up 6 percent on the previous year, Easier Media
reports.

With eye-catching styling, competitive pricing and generous
specification the all-new L200 pick-up range will be the major
launch event of 2006 for the company. As its best selling model,
the L200 currently accounts for 31% of Mitsubishi's U.K. sales
and the new model, with a new engine, new car-like dynamics and
high-specification interior, is expected to continue this
dominance as more customers realize the benefits of owning and
driving a pick-up.

The second new vehicle for 2006 will be the Mitsubishi Colt CZC
convertible. Equipped with choice of 1.5 109bhp or 147bhp turbo
engine, the CZC will be Mitsubishi's first convertible model for
the UK market and is expected to hit the showrooms in April,
just in time for customers to enjoy the benefits of going
"topless" for the summer.

CONTACT:

Mitsubishi Motors UK
The Colt Car Company Limited
Watermoor, Cirencester, GL7 1L
Phone: 01285 655777
Fax: 01285 647223


MITSUBISHI MOTORS: Develops New Model in India
----------------------------------------------
At the New Delhi Auto Expo that opened on December 12 and runs
until January 17, Mitsubishi Motors Corporation unveiled the new
Lancer to be produced and sold by the company's local business
partner Hindustan Motors Limited (HML). The model will carry the
Lancer Cedia nameplate in India.

The new model will be produced alongside the current Lancer that
went into production and on sale in 1998 and will be sold
through HML's network of 37 dealerships. Plans call for an
annual sales volume of 3,600 units.

The company plans to export to and introduce in India a new
Pajero model in May this year and later to launch Outlander
(Airtrek in Japan) and Grandis models.

The company is working to expand its lineup of Mitsubishi brand
vehicles and to boost its presence in India which, with Brazil,
Russia and China, is a member of the emerging BRICs countries
that are seen as promising growth markets for the near future.

(For reference) HML profile

1. Company name: Hindustan Motors Limited
(a member of the Birla business grouping)
2.  Date of establishment: 1942
3. Location: Head office: Kolkata / Factory: Chennai (Lancer)
4. Senior management: Chairman, C.K. BirlaPresident, R.
Santhanam
5. No. employees: 400 (in the MMC division)
6. Capitalization: INR 1.8 billion
7. Business lines: Manufacture and sales of automobiles
8. Models sold: Lancer, Pajero
9. Fiscal 2004 sales volume:  Lancer (current)  2,100
Pajero 100
Total 2,200

This is a company press release.


SONY CORPORATION: To Renew 5-year Chip Contract
-----------------------------------------------
IBM, Sony Corporation and Toshiba announced they have begun a
new, five-year phase of their joint technology development
alliance.

As part of this broad semiconductor research and development
alliance, the three companies will work together on fundamental
research related to advanced process technologies at 32
nanometers and beyond. The agreement will help enable the three
companies to more rapidly investigate, identify and
commercialize new technologies for consumer and other
applications.

Over the last five years Sony Corporation, Sony Computer
Entertainment Inc., Toshiba and IBM have collaborated on the
"Cell" microprocessor design, and its underlying SOI (silicon-
on-insulator) process technologies in 90 and 65 nanometer.

"This is a winning combination," said Masashi Muromachi,
president & chief executive officer of the Semiconductor Company
at Toshiba Corporation. "With Toshiba's cutting-edge process
technology and manufacturing capabilities, Sony's various
semiconductor technologies and deep knowledge of consumer
markets and IBM's state-of-the-art material technology, we can
anticipate breakthrough process technologies for the 32-
nanometer generation and beyond. Toshiba will apply these
advances to assuring continued leadership in cutting-edge
process technology and the accelerated development of essential
devices for the age of ubiquitous connectivity."

"The extension of the IBM, Sony and Toshiba relationship to
fundamental research is extremely promising," said Kenshi
Manabe, president of semiconductor business unit, EVP and
Corporate Executive of Sony Corporation. "This joint development
project will help accelerate the cycle from fundamental research
to commercialization based on detailed feasibility studies of
potential technologies, device structures, innovative materials,
and unique processing tools."

"By extending this relationship to the next-generation of
process technologies and deepening our partnership at the
research level, we expect to increase the pace of development
for major technology advances," said Lisa Su, vice president,
Semiconductor Research and Development Center, IBM Systems &
Technology Group.

Research and development will take place at IBM's Thomas J.
Watson Research Center in Yorktown Heights, N.Y., the Center for
Semiconductor Research at Albany NanoTech, and at IBM's 300
millimeter manufacturing facility in East Fishkill.

About IBM

IBM develops, manufactures and markets state-of-the-art
semiconductor and interconnect technologies, products and
services including industry-leading Power Architecture
microprocessors. IBM semiconductors are a major contributor to
the company's position as the world's largest information
technology company. Its chip products and solutions power IBM
eServer and TotalStorage systems as well as many of the world's
best-known electronics brands.

IBM semiconductor innovations include dual-core microprocessors,
copper wiring, silicon-on-insulator and silicon germanium
transistors, strained silicon, and eFUSE, a technology that
enables computer chips to automatically respond to changing
conditions. More information is available at:
http://www.ibm.com/chips

About Sony Corporation

Sony Corporation is a leading manufacturer of audio, video,
game, communications, key device and information technology
products for the consumer and professional markets. With its
music, pictures, computer entertainment and on-line businesses,
Sony is uniquely positioned to be the leading personal broadband
entertainment company in the world. Sony recorded consolidated
annual sales of approximately $67 billion for the fiscal year
ended March 31, 2005. Sony Global Web Site: http://www.sony.net

About Toshiba Corporation

Toshiba Corporation is a leader in the development and
manufacture of electronic devices and components, information
and communication systems, digital consumer products and power
systems. The company's ability to integrate wide-ranging
capabilities, from hardware to software and services, assure its
position as an innovator in diverse fields and many businesses.
In semiconductors, Toshiba continues to promote its leadership
in the fast growing system LSI market and to build on its world-
class position in NAND flash memories, analog devices and
discrete devices. Visit Toshiba's website at
www.toshiba.co.jp/index.htm

CONTACT:

Sony Corporation
7-35 Kitashinagawa 6-Chome
Shinagawa-Ku 141-0001, Tokyo 141-0001
JAPAN
Phone: +81 3 5448 2111
Fax: +81 3 5448 2244

This is a company press release.


UFJ BANK: Partners With Bank of Tokyo-Mitsubishi
------------------------------------------------
The Bank of Tokyo-Mitsubishi Ltd. hereby gives notice that with
effect from January 1, 2006, the company will merge with UFJ
Bank Limited (subject to obtaining the necessary approvals,
including regulatory and governmental approvals) pursuant to a
formal merger agreement governed by Japanese law (the Merger).

Under the merger, UFJ Bank Limited will cease to exist and the
Bank of Tokyo-Mitsubishi Ltd. (which will be the surviving
entity) will be renamed as the Bank of Tokyo-Mitsubishi UFJ,
Ltd. and will succeed to all the rights, interests, obligations
and liabilities of UFJ Bank Limited.

Holders of each issue of Bonds/Notes:

Banco Model S.A.
USD 50,000,000
Euro Medium Term Notes

Votorantim Metals Ltda
JPY 12,679,200,000
4.25% Notes due 2014

Votorantim Participacoes S.A.
JPY 14,264,100,000
4.25% Notes due 2014

VCP Ezportadora e Participacoes Ltda
JPY 754,700,000
4.25% Notes due 2014

Development Bank of Japan
USD 700,000,000
4.25% Guaranteed Bonds due
June 9 2015
ISIN no. XS0221502353

Japan Finance Corporation for Municipal Enterprises
USD1,200,000,000
4.625% Guaranteed Bonds due
APril 21, 2015
ISIN no. XS0217750883

Japan Finance Corporation for Municipal Enterpseis
US$1,000,000,000
5.875% Guaranteed Bonds due
March 14, 2011
ISIN no.: US471060aJ25

Development Bank of Japan
JPY 100,000,000,000
1.75% Guaranteed Bonds due
June 21, 2010
ISIN No. US2515MAA53

The Bank of Tokyo-Mitsubishi Ltd. London Branch
December 21, 2005


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

HANARO TELECOM: Releases Notice of Merger Closing
-------------------------------------------------
Hanaro Telecom Inc. filed with the Korean Financial Supervisory
Commission and KOSDAQ a Notice of Merger Closing pursuant to
Section 190-2 of the Korea Securities Exchange Act on January 9,
2006.

(1) Surviving company: hanarotelecom incorporated

(2) Key dates relating to merger:

- Date of Board meeting: November 7, 2005

- Merger effective date: January 1, 2006

- Merger registration: January 9, 2006

- Date new shares issued in merger will be listed: scheduled for
January 18, 2005

(3) Large shareholdings:

                           Before merger       After merger
              Class of     Number of           Number of
Shareholder   Securities   Shares       %      Shares        %

AIF II NT,
Ltd.
(including
AOF NT Ltd.
as related
person)       Common  63,178,125     13.67   63,178,125    13.64
              Shares

Newbridge
Asia HT,
L.P.          Common  49,535,799    10.72    49,535,799    10.69
              Shares

AIF II
NT, Ltd.      Common  38,456,250     8.32     38,456,250    8.30
              Shares

AOF NT
Ltd.          Common  24,721,875     5.35     24,721,875    5.34
              Shares

(4) Right of dissenting shareholders to request the purchase of
shares:

Former shareholders of Korea Thrunet Co., Ltd. (Thrunet)
representing a total of 477,934 common shares of Thrunet
exercised their right to request the purchase of their shares.

The purchase price for such shares was KRW960 per share for an
aggregate purchase price of KRW458,816,640.

(5) Issuance of new hanarotelecom shares in merger:

- Merger ratio: hanarotelecom: Thrunet= 1 : 0.3570308

- Total number of shares to be issued as part of merger:
  1,217,832 shares

- Increase in capital stock: KRW6,089,160,000

For more information, go to
http://bankrupt.com/misc/HanaroTelecomInc011106.pdf

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

ACP INDUSTRIES: Thai Sub-Unit Inks Deal with SKS Global
-------------------------------------------------------
ACP Industries Berhad furnished Bursa Malaysia Securities Berhad
details of the execution of a consortium agreement with SKS
Global Co. Ltd.

(1) Introduction

Further to our announcement on September 5, 2005, the Company
advised that its Thailand sub-subsidiary, ASCE Construction Ltd.
(ACL) has on January 6, 2006 entered into a consortium agreement
(the Agreement) with SKS Global Co. Ltd. (SKS), a company
incorporated under the Laws of Thailand and having its business
office at No. 43/169 Amariniwet 1, Ram-intra Road, Khet
Bangkhen, Bangkok 10220, Thailand.

(2) Salient points of the agreement

The signing of the Agreement is for the formation of a
consortium under the name of ACL-SKS Consortium for the sole
purpose of submitting an integrated proposal (the Proposal) to
the National Housing Authority of Thailand (NHA) for the
Proposed Development and Construction of 855 units of Low Cost
Houses (five storey walk-up low cost apartments) at Pracha-Utid,
Samutprakan, Thailand (the Project) with a total estimated
Project value of Baht Three Hundred Fifty Nine Million
(THB359,000,000) Only.

The collaboration between ACL and SKS is based on the scope of
responsibilities whereby ACL's scope of works comprises all
design and construction works and SKS on land development works.

(3) Financial Effects of the Agreement

The Agreement will not have any material effect on the earnings
of ACPI Group nor will it have any material impact on the net
tangible assets of ACPI Group for the financial year ending
March 31, 2006. However, it is expected to contribute positively
to the future earnings of ACPI Group if the Proposal were to be
accepted by NHA.

(4) Directors' and major shareholders' interest

None of the Directors or Major Shareholders of ACPI Group or
persons connected to them has any direct or indirect interest in
the Agreement.

(5) Statement by directors

The Directors of the Company are of the opinion that the
Agreement is in the best interest of the Company.

CONTACT:

ACP Industries Berhad
18A Jalan 51A/223
46100 Petaling Jaya, Selangor Darul Ehsan 46100
Malaysia
Telephone: +60 3 7956 5186 / +60 3 7958 6130


AVANGARDE RESOURCES: Answers Bourse's Query
-------------------------------------------
Avangarde Resources Berhad issued to Bursa Malaysia Securities
Berhad a reply to its query regarding the petition by Ceratrade
(M) Sdn. Bhd. to wind-up Jayarena Construction Sdn. BHD., a
wholly owned subsidiary of Avangarde Resources Berhad for a
claim of MYR53,281.58.

The Company refers to its announcement dated January 6, 2006 and
the Exchange's letter ref: CY-060109-42589 dated January 9,
2006.

The following are the information requested:

(1) The date of the presentation of the winding-up petition was
on January 6, 2006.

(2) The Petition is for an alleged outstanding balance price of
goods sold and delivered claimed by Ceratrade (M) Sdn. Bhd.
against Jayarena Construction Sdn. Bhd. (Jayarena) which
Jayarena is disputing.

(3) The total cost of investment in Jayarena is
MYR13,360,396.00.

(4) The financial impact on the proceeding amounts to
MYR53,281.58 together with interest at the rate of eight percent
per annum till November 22, 2005 and still continuing in the
event the petition succeed.

(5) The expected losses on the proceeding amounts to
MYR53,281.58 together with interest at the rate of eight percent
per annum till November 22, 2005 and still continuing in the
event the petition succeed.

To view a full copy of Bourse's Query Letter content, click
http://bankrupt.com/misc/AvangardeResources011106.pdf

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


CRIMSON LAND: Court Reschedules Litigation Hearings
---------------------------------------------------
Crimson Land Berhad provided Bursa Malaysia Securities Berhad
with an update to the following Material Litigation:

(1) Seremban High Court Writ of Summons No. 22-17-2002
(Malaysia Building Society Berhad v. Crimson Properties Sdn Bhd)

(2) Seremban High Court Writ of Summons No. 22-18-2002
(Malaysia Building Society Berhad v. Crimson Land Berhad)

The Company informed the Exchange that the abovementioned cases
which had been fixed for mention on January 9, 2006 have been
adjourned as follows:

(1) Writ of Summons No. 22-17-2002 had been adjourned for
mention on February 28, 2006; and

(2) Writ of Summons No. 22-18-2002 had been adjourned for
mention on February 9, 2006.

This announcement is dated 11 January 2006.

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


CYGAL BERHAD: Creditors Extend Deadline to Meet Conditions
----------------------------------------------------------
Cygal Berhad (CYGAL) furnished Bursa Malaysia Securities Berhad
with an update to the following announcements:

- Share Exchange;

- Debt-Restructuring Comprising:

(I) Financial Institutions Scheme;

(II) Non Financial Institutions Scheme; AND

(III) Part settlement of amount owing to an offshore
financial institution;

- Additional issue to Commerce International Merchant Bankers
Berhad;

- Rights issue of shares together with warrants;

- acquisition of property development companies; and

- Delisting of Cygal and the listing of a new investment holding
company, Active Accord Sdn Bhd, which will be converted into a
public company, in place of Cygal.

On behalf of Cygal, it is announced that Cygal has obtained the
consent of the majority of its financial institution creditors
for a further extension of time to March 31, 2006 for Cygal to
meet the conditions precedent as stipulated in the Settlement
Agreement dated November 19, 2001 entered into between Cygal and
the financial institution creditors of Cygal, Cygal Concretepump
Sdn Bhd (CCS) and C.T.A. Reality Sdn Bhd (CTA).

The Settlement Agreement was entered into for the proposed
settlement of indebtedness amounting to MYR229,637,109 of Cygal,
CCS and CTA to the financial institution creditors.

This announcement is dated January 11, 2006.

CONTACT:

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


DATUK KERAMAT: Bourse Denotes Possible Delisting of Securities
--------------------------------------------------------------
Datuk Keramat Holdings Berhad advised Bursa Malaysia Securities
Berhad that it has appealed against a Notice to Show Cause
issued on the January 3, 2006 from Bursa Malaysia Securities
Berhad (Bursa Securities) to delist the Company.

The decision to delist the Company by Bursa Securities is
subject to any representation from the Company and after the
decision on any appeals from the Company, if any, in the event
Bursa Securities rejects the representation from the Company.

In this respect, the Company advised the following:

(a) The Company has been accorded five market days by Bursa
Securities to make written representations to Bursa Securities
as to why its securities should not be removed from the Official
List of Bursa Securities;

(b) In the event Bursa Securities decides to delist the Company,
the securities of the Company shall be removed from the Official
List of Bursa Securities upon the expiry of seven market days
from the date of notification of the decision to de-list the
Company or upon such other date as may be specified by Bursa
Securities; and

(c) In the event Bursa Securities decides not to delist the
Company, other appropriate action/penalty(ies) may be imposed
pursuant to paragraph 16.17 of the Listing Requirements of Bursa
Securities.

The Company informed the Exchange as previously announced that
it had obtained an interim Restraining Order from the Court of
Appeal on the October 24, 2005 which restrains further
proceedings in any action or proceeding against the Company
except by leave of Court.

CONTACT:

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


EMICO HOLDINGS: Unveils Public Shareholding Spread
--------------------------------------------------
Emico Holdings Berhad (Emico) advised Bursa Malaysia Securities
Berhad that the public shareholding spread of Emico as at
December 31, 2005 is 77.45 percent comprising 3,262 public
shareholders holding not less than 100 shares each.
Consequently.

Emico has complied with the public shareholding spread
requirement pursuant to paragraph 8.15 (1) of the Listing
Requirements of the Bursa Malaysia Securities Berhad.

CONTACT:

Emico Holdings Berhad
18, Lebuhraya Kampung Jawa,
Non-Ftz, Bayan Lepas,
11900 Penang
Telephone Number: 604 - 644 3843  
Fax Number: 604 - 643 8563 / 643 8360  
E-Mail: Enquiry@Emico.Com.My
Web Site: http://www.emico.com.my


FOREMOST HOLDINGS: Wind Up Petition Against Unit May be Resolved
----------------------------------------------------------------
Foremost Holdings Berhad issued to Bursa Malaysia Securities
Berhad an update to the advertisement of winding-up petition  
served on Tong Giap Feedmills Sdn Bhd Petitioner - Eli Lilly
(Malaysia) Sdn Bhd.

On behalf of the Board of Directors of FHB, the Company further
explained on the information for the winding-up Petition in
respect of Tong Giap Feedmills Sdn Bhd (TGF), 50 percent plus 1
share owned subsidiary of Axasupreme Sdn Bhd which is 51 percent
owned subsidiary of Foremost Holdings Berhad (FHB):

(1) The Petition has not been received. However, TGF has reached
a settlement with Eli Lilly (Malaysia) Sdn Bhd (petitioner) and
the matter is deemed to be resolved.

(2) The interest portion, if any, cannot be ascertained.

(3) The sum of MYR67,776.00 was outstanding due to a dispute as
TGF was not satisfied with the quality.

(4) TGF has received the settlement agreement vide petitioner's
solicitor's letter dated January 4, 2006 whereby the petitioner
is agreeable with the following conditions proposed by TGF:

- TGF will pay 50 percent of the debt or MYR33,888.00 by January
30, 2006

- TGF will pay balance 50 percent of the debt or MYR33,888.00
and legal cost in the sum MYR5,000.00 by February 28, 2006.

This announcement is dated 11 January 2006.

To view a full copy of the Query Letter, go to
http://bankrupt.com/misc/ForemostHoldingsBerahd011106.pdf


FOREMOST HOLDINGS: Unit Ceases Operations
-----------------------------------------
Further to Foremost Holdings Berhad's (FHB) announcement dated
November 18, 2005, the Company advised Bursa Malaysia Securities
Berhad that the Receivers and Managers of Yaku Shin (Malaysia)
Sdn Bhd (YKSM), 58.75 percent owned subsidiary of FHB has ceased
YKSM's operations at Plot 1, Lot 5614 Sungai Ketapan, 08300
Gurun, Kedah effective from January 6, 2006.

Background Information

On November 15, 2005, YKSM had been placed under receivership by
Bumiputra-Commerce Bank Berhad (BCBB) for the default of payment
of principal and/or interest in respect of banking facilities of
MYR5,048,467 granted by BCBB.

Rationale

YKSM had been facing tight cashflow since 2003 when YKSM
incurred MYR25.8 million pretax loss against revenue of MYR235
million for the year ended December 31, 2003.

The following year saw a drop in revenue to MYR137 million and
further pretax loss of MYR4.4 million for the year ended
December 31, 2004.

In view of continues loss based by YKSM, the cessation would
help to reduce the Group's existing liabilities.

Financial Effects

No major liability need be assumed by FHB because of the
cessation of the business operation of YKSM save for the loss of
business.

Director's and Substantial Shareholders' Interest

None of the Directors and substantial shareholders of FHB or
persons connected to the Directors or substantial shareholders
have any interest, in this cessation, save for Mr. Teh Hong Beng
and Mr. Ng Kim Weng who are the directors of FHB and also YKSM.

This announcement is dated 11 January 2006.


LANKHORST BERHAD: Submits Notice Representation to Bourse
---------------------------------------------------------
On behalf of the Board, Lankhorst Berhad informed Bursa Malaysia
Securities Berhad that it has submitted its representation on
the above Notice to Show Cause to Bursa Malaysia Securities
Berhad (Bursa Securities), within the period stipulated by Bursa
Securities.

By Order of the Board

This announcement is dated 11th January 2006

CONTACT:

Lankhorst Berhad
5th Floor, Bangunan Umno Selangor
Persiaran Perbandaran , Section14
40000 Shah Alam
Selangor, Malaysia
Phone: 03-50313030
Fax: 03-50313036


MAGNUM CORPORATION: Buys Back Ordinary Shares
---------------------------------------------
Magnum Corporation Berhad submitted to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:  
   
Date of buy back: January 11, 2006

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

Total number of shares purchased (units): 193,000

Minimum price paid for each share purchased (MYR): 1.970

Maximum price paid for each share purchased (MYR): 2.000

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 193,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 92,663,600

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

CONTACT:

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

MBF HOLDINGS: Court to Hear Case April 5
----------------------------------------
The Board of Directors of MBF Holdings Berhad (MBfH) advised
Bursa Malaysia Securities Berhad that the matter will be heard
together with the suit by AmFinance vide Kuala Lumpur High Court
Suit No.D4-22-672-2005 and the pre-trial case management is
fixed for mention on April 5, 2006.

MBfH's previous announcement pertaining to the above was dated
November 8, 2004.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad

Ding Lien Bing
Company Secretary
11 January 2006

CONTACT:

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


METACORP BERHAD: Concludes Lot Disposal
---------------------------------------
Metacorp Berhad furnished Bursa Malaysia Securities Berhad
details of the proposed disposal of two adjoining four and a
half-storey terrace shoplots presently held under H.S. (M) 23292
Lot No. PT 23252 and H.S. (M) 23293 Lot No. PT 23253, both in
Mukim of Ampang, Daerah of Ulu Langat and state of Selangor
Darul Ehsan (Proposed Disposal).

The Company advised that the Proposed Disposal has been
completed on January 11, 2006.

This announcement is dated 11 January 2006.

CONTACT:

Metacorp Bhd   
22 Jalan 2/6,
Dataran Templer,
Bandar Baru Selayang
Batu Caves Selangor 68000
Malaysia
Telephone: 03-61201118   
Fax: 03-61205558


PACIFIC & ORIENT: Holds Shares Buy Back
---------------------------------------
Pacific & Orient Berhad submitted to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:
   
Date of buy back: January 11, 2006

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

Total number of shares purchased (units): 1,000

Minimum price paid for each share purchased (MYR): 1.770

Maximum price paid for each share purchased (MYR): 1.770

Total consideration paid (MYR): 1,784.71

Number of shares purchased retained in treasury (units): 1,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 8,313,889

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

CONTACT:

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


PANTAI HOLDINGS: Purchases New Shares
-------------------------------------
Pantai Holdings Berhad furnished Bursa Malaysia Securities
Berhad with details of the shares buy back.
   
Date of buy back: January 11, 2006

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

Total number of shares purchased (units): 1,685,000

Minimum price paid for each share purchased (MYR): 1.890

Maximum price paid for each share purchased (MYR): 1.930

Total consideration paid (MYR): 3,197,270.03

Number of shares purchased retained in treasury (units):
1,685,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 40,317,300

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

CONTACT:

Pantai Holdings Berhad
8 Jalan Damansara Endah
Damansara Heights Kuala Lumpur, Malaysia 50490
Malaysia
Telephone: +60 3 2713 2282 / +60 3 2094 4528


PDZ HOLDINGS: Updates Public Shareholding Spread
------------------------------------------------
On behalf of the Board of Directors of PDZ Holdings Bhd, the
Company confirmed that as at December 31, 2005, the Company's
shareholding structure complies with the public shareholding
spread requirements prescribed under paragraphs 3.05(1) and
8.15(1) of the Bursa Malaysia Listing Requirements.

                       Percentage (%) of     No. of         
                       Public Spread         Public
                                             Shareholders

Minimum Requirement    25                    1,000          

Based on Record of   
Depositors made up to
December 31, 2005      45.74                 1,872


POHMAY HOLDINGS: Bourse Extends 'Show Cause' Deadline
-----------------------------------------------------
Pohmay Holdings Bhd advised Bursa Malaysia Securities Berhad
that its application to Bursa Malaysia Securities Berhad (Bursa
Securities) for an extension of time to submit a written
representation in reply to the Bursa Securities' Notice to Show
Cause on why its securities should not be removed from the
Official List of Bursa Securities has been granted by the Bursa
Securities until January 17, 2006 via its letter dated January
11, 2006.

In respect of the above, the Company is earnestly working
towards a regularization plan and will be submitting a written
representation to Bursa Securities before January 17, 2006 on
why its securities should not be removed from the Official List
of Bursa Securities.

This announcement is dated 11 January 2006.

CONTACT:

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


PUNCAK NIAGA: Complies With Bourse's Listing Requirement
--------------------------------------------------------
Puncak Niaga Holdings Berhad informed Bursa Malaysia Securities
Berhad that as at December 31, 2005, Puncak is in compliance
with the public shareholding spread requirement prescribed in
paragraph 8.15(1) of the Listing Requirements of Bursa Malaysia
whereby the level of the public shareholding spread of Puncak as
at that date is as follows:

Percentage (%) of Public Shareholding Spread: 57.37 percent

Number of Public Shareholders holding not less than 100 shares
each: 8,664

This announcement is dated 11 January 2006.

CONTACT:

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


QUALITY CONCRETE: Unveils Public Shareholding Spread
----------------------------------------------------
The Board of Directors of Quality Concrete Holdings Berhad
(Quality) advised Bursa Malaysia Securities Berhad that pursuant
to the letter dated December 2, 2005 reference no:
SR/YYT/BHF(LACLA)/LD/19/05 issued by Bursa Malaysia Berhad, the
Company has complied with the level of public shareholding
spread as prescribed under paragraph 8.15(1) of the Listing
Requirements of Bursa Malaysia Securities Berhad wherein a
listed issuer must have at least 25 percent of its listed shares
in the hands of a minimum of 1000 public shareholders holding
not less than 100 shares each.

As at December 31, 2005, 36.96 percent of QUALITY shares were
held by 3,386 public shareholders holding not less than 100
shares each.

This announcement is dated January 11, 2006.

CONTACT:

Quality Concrete Holdings Bhd   
Level 5, Wisma Mata Kuching,
Jalan Tunku Abdul Rahman,
Kuching Sarawak 93100
Malaysia
Telephone: 082-488267   
Fax: 082-484959


SAAG CONSOLIDATED: Issues Details of Public Shareholding
--------------------------------------------------------
The Board of Directors of SAAG Consolidated (M) Bhd (SAAG)
advised Bursa Malaysia Securities Berhad that the Company's
public shareholding spread as at December 31, 2005 is 52.16
percent comprising 3,198 public shareholders holding not less
than 100 shares each.

Consequently, SAAG has complied with the public shareholding
spread requirement pursuant to Paragraph 8.15(1) of the Listing
Requirements of Bursa Malaysia Securities Berhad.

This announcement is dated 11 January 2006.

CONTACT:

SAAG Consolidated (M) Berhad
Unit 19-5, Block C1, Dataran Prima, Jalan PJU 1/41
47301 Petaling Jaya, Selangor Darul Ehsan
Telephone: 603 7884 8200
Fax: 603 7880 7958
Media Inquiries: rraveena@commsuite.com.my


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

BAYAN TELECOMMUNICATIONS: Seeks Reconsideration of 3G Bid
---------------------------------------------------------
Bayan Telecommunications Inc. (BayanTel) has asked the National
Telecommunications Commission (NTC) to give it more credit for
track record so it can qualify for a third-generation (3G0
mobile phone license, The Philippine Daily Inquirer reports.

The NTC evaluated applications for 3G operations based on legal,
technical and financial capability, plus track record, rollout
plan, and service rates.

The four slots were already given to Smart Communications Inc.,
Globe Telecom Inc., Digitel Mobile Philippines Inc., and
Connectivity Unlimited Resources Inc. BayanTel is competing with
Multi-media Telephony Inc. for the fifth slot.

But the NTC stressed it would leave the fifth slot vacant and
distribute the excess 3G frequency bands among the four
qualified players later if no company would qualify for it.

BayanTel and Multi-Media Telephony each scored 18.5 out of a
perfect score of 30.

The NTC gave BayanTel a low score in track record category,
saying the company had failed to roll out a mobile phone service
although it had a license for one.

BayanTel is asking for reconsideration, saying it was prevented
from operating a mobile service by a court injunction that was
lifted only in 2002, and subsequently by a debt rehabilitation
case filed by its creditors.

Its petition said BayanTel should have been given at least five
points for track record and an additional one point for the
rollout plan.

BayanTel said it would invest Php1.2 billion annually in the
first five years of a 3G operation.

CONTACT:

Bayan Telecommunications Inc.
Investor Relations
3/F BayanTel Corporate Center
Maginhawa corner Malingap Streets
Teacher's Village East, Diliman
Quezon City 1101, Philippines
Fax: (632) 449-2174
Web site: http://www.bayantel.com.ph


CENTRAL AZUCARERA: Postpones Annual Stockholders' Meeting
---------------------------------------------------------
Central Azucarera de Tarlac advised that it is postponing its
Annual Stockholders' Meeting scheduled on January 31, 2006 to a
later date.

The company said it is still finalizing its 17-A Annual Report
together with its Financial Statement and the preliminary and
definitive information statements are dependent on the said 17-A
Annual Report.

The Company said that it will immediately schedule its Annual
Stockholders' Meeting as soon as it has submitted the 17-A
Annual report.

CONTACT:

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


LONG TERM EQUITY: Goes Into Members' Voluntary Liquidation
----------------------------------------------------------
Take notice that the members of Philippines Long Term Equity
Fund Limited, on Dec. 29, 2005, passed the following
resolutions:

a) That the Company be wound up voluntarily pursuant to the
provisions of the Companies Act 1981; and

b) That Mr. Peter C.B. Mitchell and Mr. Nigel J.S. Chatterjee of
PricewaterhouseCoopers be appointed as Joint Liquidators, both
jointly and severally, for the purposes of such winding-up, such
appointment to be effective forthwith.

This announcement is dated December 29, 2005.

Ms. Dawna Ferguson
Secretary
Philippines Long Term Equity Fund Limited


LONG TERM EQUITY: Creditors' Proofs of Claim Due Feb. 17
--------------------------------------------------------
Notice is hereby given that the creditors of the Philippines
Long Term Equity Fund Limited, which is being voluntarily wound
up, are required on or before Feb. 17, 2006, to send their full
Christian and Surnames, their addresses and descriptions, full
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to the undersigned, at
PricewaterhouseCoopers, P.O. Box HM 1171, Hamilton, HM EX,
Bermuda, being the Joint Liquidator of the said Company.

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

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

Nigel Chatterjee
Joint Liquidator


MARIWASA MANUFACTURING: Complies with Corporate Governance Rules
----------------------------------------------------------------
Mariwasa Manufacturing Inc. furnished the Philippine Stock
Exchange (PSE) a copy of its Certification on the extent of the
Company's compliance with its Manual on Corporate Governance.

A copy of the Certificate is available for downloading free of
charge at
http://bankrupt.com/misc/tcrap_mariwasamanufacturing011206.pdf.

CONTACT:

Mariwasa Manufacturing Inc.
C. Raymundo Avenue
Barrio Rosario, Pasig City
Phone:  628-1986 to 89; 628-3871 to 80
Fax:  625-1985/3991; 628-3991; 628-1983 to 85
E-mail Address:  hotline@mariwasa.com
Web site: http://www.mariwasa.com


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

EVERGREAT CONSTRUCTION: Seeks Judicial Management Order
-------------------------------------------------------
Notice is hereby given that Evergreat Construction Company Pte
Limited filed a judicial management petition with the Singapore
High Court on Nov. 18, 2005.

The Petition is directed to be heard before the Court on Jan.
20, 2006, 10:00 a.m., with Messrs. Ramasamy Subramanium Iyer,
Goh Thien Phong and Chan Kheng Tek acting as the Judicial
Managers of the Company.

Any person who intends to oppose the making of an order under
section 227 (B) (5) (b) or the nomination of Judicial Managers
under section 227 (B) (3) (c) may appear at the time of the
hearing by himself or his Counsel for that purpose.

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

Effective Nov. 24, 2005, the Petitioner's registered address is
101 Upper Cross Street #04-40, People's Park Center, Singapore
058357.

The Petitioner's Solicitors are Drew & Napier LLC of 20 Raffles
Place #17-00, Ocean Towers, Singapore 048620

Dated this 9th day of January, 2006

Drew & Napier LLC
Solicitors for the Petitioner.

Note:

Any person who intends to appear at the hearing of the said
Petition must serve on or send by post to solicitors Drew &
Napier LLC a written notice of his intention to do so. The
notice must state the name and address of the person, or if
a firm, the name and address of the firm, and must be signed by
the person or firm, or his or their Solicitors (if any) and must
be served, or if posted, must be sent by post in sufficient time
to reach the solicitors not later than 12:00 p.m. of Jan. 19,
2006 (the day before the day appointed for the hearing of the
Petition).

CONTACT:

Evergreat Construction Company Pte Limited
C/o 101 Upper Cross Street
#04-40 People's Park Center
Singapore 058357


L&M GROUP: Appoints Judicial Manager
------------------------------------
L&M Group Investments Limited announces that on Jan. 11, 2006,
the Singapore High Court appointed Mr. Bob Low Sie of Messrs.
Bob Low Sie & Co. to act as the Judicial Manager for the
Company.

CONTACT:

L & M Group Investments Pte Limited
28 Tuas Crescent
Singapore 638719
Phone: 65 6268 8688
Fax:   65 6265 5511


ROTOL ECO: Receiving Claims Until Next Month
--------------------------------------------
Notice is hereby given that the creditors of Rotol Eco Paints
Pte Limited, which is being wound up voluntarily, are required
to send in their names and addresses and particulars of their
debts or claims, and the names and addresses of their solicitors
(if any) to the Company Liquidator on or before Feb. 9, 2006,
and if so required by written notice from the said Liquidator
are, by their solicitors or personally, to come in and prove
their debts or claims at such time and place as shall be
specified in such notice; in default thereof, they will be
excluded from the benefit of any distribution made before such
debts are proven.

Dated this 9th day of January 2006

Shiro Suzuki
Liquidator
C/o 18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423


TOP VENTURE: Asks Creditors to Submit Debt Claims
-------------------------------------------------
Notice is given that the creditors of Top Venture Pte Limited,
which is being voluntarily wound up, are required to send in
their names and addresses with particulars of their debts
and claims and the names and addresses of their solicitors (if
any) to the Company Liquidator on or before Feb. 8, 2006.

If so required by written notice from the said Liquidator, they
are to come in by their solicitors or personally and prove their
debts and 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 and claims
are proven.

Wee Hui Pheng
Liquidator
C/o Messrs Wee Seng Tiong & Co.
1 Coleman Street, #06-10 The Adelphi
Singapore 179803


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

SIAM AGRO-INDUSTRY: Details Tender Offer
----------------------------------------
The Siam Agro-Industry Pineapple and Others Public Company
Limited informed the Stock Exchange of Thailand (SET) that it
has received a copy of Form 247-4, the Offeror's tender offer
proposal from Advisory Plus Co. Ltd. as the Tender Offer
Preparer of the Thai Pineapple Canning Industry Corporation
Limited (the Offeror) on January 11, 2006.

To view details of the offer, go to
http://bankrupt.com/misc/SiamAgroIndustry011106.pdf

For your information

Yours sincerely,
Mr. Praful Shah
Managing Director                    

The Siam Agro Industry Pineapple and  
Asian International Planners Limited
Others Public Co., Ltd
as the CO-plan administrators

CONTACT:

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



* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                         Total
                                         Shareholders   Total
                                         Equity         Assets
Company                      Ticker    ($MM)          ($MM)
------                       ------    ------------   ------


CHINA & HONG KONG
-----------------
Guangdong Meiya Group Co. Ltd. 000529      27.43      178.19
Guangdong Sunrise Group
Group Co. Ltd-A                000030    -182.94      35.98
Guangdong Sunrise
Group Co. Ltd-B                200030    -182.94      35.98
Hainan Dadong-A                000613     (-6.63)      17.81
Hainan Dadong-B                200613     (-6.63)      17.81
Heilongjiang Black Dragon      600187     (-29.45)    153.92
Co. Ltd.
Shenz China Bi-A               000017      -206.9      50.08
Shenz China Bi-B               200017      -206.9      50.08
Xinjiang Tunhe Investment      600737       47.57      476.47
Co. Ltd.

INDONESIA
---------
Barito Pacific Timber Tbk Pt    BRPT       -62.86     360.72

MALAYSIA
--------

Kemayan Corp Bhd                KOP      (-353.12)      84.89
Lityan Holdings Bhd              IT         20.1        56.55
Panglobal Bhd                   PGL       (-50.36)     189.92
PSC Industries Bhd              PSC         51.63      639.35

PHILIPPINES
-----------

Pilipino Telephone Co.          PLTL     (-159.78)     280.22

SINGAPORE
---------
China Aviation Oil (Singapore)   AO       132.64  351.87
Corporation
Informatics Holdings Ltd         INFO      -6.73       27.59
Lindeteves-Jacoberg Limited       LG       39.61      332.07
Pacific Century Regional          PAC      -145.53    1289.71

THAILAND
--------
Asia Hotel PCL                  ASIA       (-30.12)     101.17
Asia Hotel PCL                  ASIA/F     (-30.12)     101.17
Bangkok Rubber PCL              BRC        (-57.11)      78.78
Bangkok Rubber PCL              BRC/F      (-57.11)      78.78
Central Paper Industry PCL      CPICO      (-37.02)      40.41
Central Paper Industry PCL      CPICO/F    (-37.02)      40.41
Circuit Elect PCL               CIRKIT     (-25.89)      61.3
Circuit Elect PCL               CIRKIT/F   (-25.89)      61.3
Datamat PCL                     DTM        (-1.72)       17.55
Datamat PCL                     DTM/F      (-1.72)       17.55
National Fertilizer PCL         NFC          70.66       142.61
National Fertilizer PCL         NFC/F        70.66       142.61
Siam Agro-Industry Pineapple
And Others PCL                  SAICO      (-14.71)      13.38
Siam Agro-Industry Pineapple
And Others PCL                  SAIC0/F    (-14.71)      13.38
Thai Wah Public
Company Limited-F               TWC        (-47.01)     158.87
Thai Wah Public
Company Limited-F               TWC/F      (-47.01)     158.87







                            *********


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

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

                 *** End of Transmission ***