TCRAP_Public/060214.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

              Tuesday, February 14, 2006, Vol. 9, No. 032

                            Headlines

A U S T R A L I A  &  N E W  Z E A L A N D

ACTIVE-LINK ELECTRICAL: Members Agree to Wind Up Firm
ANN STREET: Appoints Official Receivers
AUSTRALIAN GAS: Moody's Continues Review of Baa1 Rating
AUSTRALIAN GAS: S&P Removes Firm From CreditWatch
AUSTRALIAN GAS: Assures Combined Dividend for Shareholders

BELL ENTERPRISE: Prepares to Pay Dividend
CBSNA PTY: Shareholders Decide to Close Business
COBRA TOOLING: Commences Liquidation Process
CO-GENERATION AUSTRALIA: Liquidator to Give Wind-up Report
EASTELECTRIC PTY: To Declare Dividend on Feb. 16

EP & K TARLINTON: Decides to Shut Down Operations
HORTON PARK: Liquidator to Distribute Assets
HOT ART: Creditors' Proofs of Claim Due on Feb. 27
JUMBANI PTY: Members Pass Winding Up Resolution
KALPARA PTY: Members Receive Wind-up Details

KLEEMANN HOLDINGS: Winds Up Operations
MELOV HOLDINGS: Members Agree on Liquidation
NOLRAS PTY: Creditors' Claims Due on Feb. 21
O'BRIEN OCCUPATIONAL: Commences Liquidation
OPEN MARKETS: Inability to Pay Debts Prompts Wind-up

PK BRANDS: Enters Voluntary Liquidation
PEARL GROVE: Schedules Final Meeting on Feb. 14
PROMINORA PTY: To Distribute Dividend
Q & K PTY: S. Arnatovic Named to Liquidate Firm
QANTAS AIRWAYS: Profit Expected to Be Down by AU$100 Million

SEAVIEW CORNER: Liquidates Company Property
SOFENIS N. LABOUR: Appoints Liquidator to Oversee Wind-up
TELSTRA CORPORATION: Ignored Board's Decision, Senator Says
TELSTRA CORPORATION: Government Monitors Mobile Switch-off
WANWIRRI PTY: Liquidator to Give Wind-up Report

WATTYL LIMITED: Barloworld Offers AU$321 Million for Wattyl
WESTERN METALS: Receivers Cease to Act


C H I N A  &  H O N G  K O N G

CHUNG MING: Members & Creditors to Meet on Feb. 20
CORRATE COMPANY: Creditors' Proofs of Claim Due on March 15
ENFIELD CONSTRUCTION: Liquidator to Present Company Report
GT SPORT: Set to Close Business
HYDROTECH PROFESSIONAL: Court Enters Wind-Up Order

HONGKONG CONSTRUCTION: Members & Creditors to Meet on Feb. 20
KOJIMA CORPORATION: Court to Hear Wind-Up Petition on March 29
LINKCITY TECHNOLOGIES: Court Issues Wind-Up Order
MILKWAY IMAGE: Net Loss Swells to HK$14.7 Mln
MONDEX LIMITED: Creditors' Proofs of Claim Due on March 10

NH TRADING: Commences Winding Up Process
PROFIT INTERFACE: Creditors Agree on Liquidation
S&D INTERNATIONAL: Company Gets Wind-up Order
SOUTH CHAMP: Court Enters Wind-Up Order
TEMBO INDUSTRIAL: Decides to Close Operations


I N D I A

CITICORP BROKERAGE: Surrenders Registration Certificate
PILIBHIT FINANCE: Reserve Bank Cancels Registration Certificate


I N D O N E S I A

MERPATI NUSANTARA: To Open Lampung-Bandung Route
PERTAMINA: Blamed for Failure to Meet Targeted State Income


J A P A N

LIVEDOOR CO.: Faces Possible Delisting
MITSUBISHI MOTORS: To Export New Triton Pickup Worldwide
TAIHO INDUSTRIES: IRCJ Completes Debt Payment
TOHOKU MISAWA: JCR Upgrades Rating to BB


K O R E A

COCA COLA KOREA: Picks Reginald Randal to Head Business


M A L A Y S I A

AMSTEEL CORPORATION: Commission Dissolves Operations
ANCOM BERHAD: Buys Back Ordinary Shares
AYER HITAM: Posts MYR1,313,000 Net Loss in 2Q/FY05
DAI HWA: Bursa Malaysia Delays Delisting Procedures
FOREMOST HOLDINGS: To Write Off Investment in Insolvent Unit

MAGNUM CORPORATION: Repurchases 600,000 Ordinary Shares
MEDIA PRIMA: Converts ICULS to Ordinary Shares
METROPLEX BERHAD: Injunction Request Set for Hearing on Feb. 28
METROPLEX BERHAD: Hong Kong Court Reserves Judgment to Appeal
PAN MALAYSIA: Holds Shares Buy-Back

PANTAI HOLDINGS: Bourse to List and Quote New Shares
POLYMATE HOLDINGS: Served with US$71,093.41 Claim
PUNCAK NIAGA: New Shares Up for Listing and Quotation on Feb. 15
SCOMI GROUP: Bourse to List and Quote New Shares


P H I L I P P I N E S

ABS-CBN BROADCASTING: Clarifies NTC "Possible Revocation" Report
BENPRES HOLDINGS: Director Psinakis Steps Down
PANASONIC MANUFACTURING: Ceases Production Line
VICTORIAS MILLING: Clarifies Asset Sale Report


S I N G A P O R E

CHINA AVIATION: To Extend Investment Deadline
CITIRAYA INDUSTRIES: Court Places Unit in Judicial Management
DIGILAND INTERNATIONAL: Posts Sharp Fall in Six-Month Net Loss
FHTK HOLDINGS: Second-Quarter Losses Widen Slightly
HESHE HOLDINGS: Files Suit to Regain Control of Chinese Firm

INFORMATICS HOLDINGS: Cuts Losses in Third Quarter FY06
JMA TECHNOLOGIES: Yinko Management Files Wind-up Petition
MAGNUS ENERGY: Six-Month Net Loss Narrows by 92%


T H A I L A N D

THAI AIRWAYS: To Hire New Pilots

BOND PRICING: For the Week 13 February to 17 February 2006

     -  -  -  -  -  -  -  -

==========================================
A U S T R A L I A  &  N E W  Z E A L A N D
==========================================

ACTIVE-LINK ELECTRICAL: Members Agree to Wind Up Firm
-----------------------------------------------------
After their extraordinary general meeting on January 20, 2006,
the members of Active-Link Electrical Services Pty Limited
decided to voluntarily wind up the Company's operations.

A creditors' meeting was also held on the same day.
Subsequently, Peter Paul Krecji, of GHK Green Krecji, was
appointed as liquidator.


ANN STREET: Appoints Official Receivers
---------------------------------------
On January 19, 2006, Martin Madden and Robert Wiliam Hutson, of
KordaMentha, were appointed as receivers and managers of Ann
Street Brisbane Pty Limited.


AUSTRALIAN GAS: Moody's Continues Review of Baa1 Rating
-------------------------------------------------------
Moody's Investors Service said that it is continuing its review
of Australian Gas Light Company's Baa1 senior unsecured rating
for possible downgrade.

"This review follows the release of the company's Scheme
Booklet, which details the proposed de-merger of the company's
energy businesses," says lead analyst Clement Chong.

Under the proposal, AGL would be renamed AGL Infrastructure and
would own the network and infrastructure businesses, while the
energy businesses -- to be owned by AGL Energy -- would own
energy retailing, merchant generation and the wholesale gas
contract portfolio.

AGL Infrastructure would further retain most of the existing
debt, including that associated with the Southern Hydro
acquisition and PNG gas investment.  Meanwhile, it would lose to
AGL Energy the earnings from the energy businesses.

"The de-merger plan is subject to shareholder and court
approvals, and should it proceed, Moody's expects AGL's Baa1
rating to fall by at least one-notch," Chong says.

"AGL would also exhibit a relatively higher debt load, which
would more than offset its lower business risk profile.  At the
same time, stable cash flows from its operations would support
its investment-grade profile.  Given these considerations, a
rating in the mid Baa range would appear the most likely outcome
of the review," Chong adds.

That said, the rating agency is further concerned about AGL's
investment in the Australian portion of the PNG gas pipeline.  
To date, some uncertainty is apparent over the ownership and
funding structures for the project, and how construction and
operational risks will be allocated among the parties involved.

The size of the investment, the complexity of construction, and
the associated funding involved could adversely impact AGL's
credit profile, especially during the pipeline construction
phase.

The resolution of Moody's review will depend on shareholder and
court approval of the de-merger proposal, expected by end-March.
Moody's will also seek further guidance from the company on how
it intends to manage its exposure to the development of the PNG
gas pipeline.

Australian Gas Light Company is an integrated utility based in
Sydney.

Headquartered in New South Wales, Australia, Australian Gas
Light -- http://www.agl.com.au/-- is a gas and electricity  
retailer to about three million customers.  It has an extensive
portfolio of wholly and partly owned investments in energy
infrastructure, infrastructure management and other energy
companies.  AGL's business involves buying and selling gas and
electricity from gas producers and electricity generators;
transporting gas and electricity to customers via gas pipelines
and power lines; owning and investing in power generation  
plants, electricity and natural gas distribution networks;
providing customers with a wide range of energy products and
services; and designing, constructing, operating, maintaining
and managing energy infrastructure through its wholly owned
business, Agility.  


AUSTRALIAN GAS: S&P Removes Firm From CreditWatch
-------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BBB/A-2'
corporate credit ratings on Australian Gas Light Company, and
removed them from CreditWatch with negative implications, where
they were placed on October 31, 2005.  The outlook is stable.  
The action follows the release of AGL's scheme booklet for the
proposed demerger of the company's energy business.

In line with the rating action on AGL, Standard & Poor affirmed
its 'BBB' long-term corporate credit rating on the Company's
100%-owned subsidiary, AGL Hydro Partnership, and removed it
from CreditWatch with negative implications.  The outlook is
stable.

At the same time, Standard & Poor's said that should the
demerger proceed under the terms and conditions that it expects,
the rating on AGL Infrastructure will be 'BBB/A-2' and the
rating on the demerged entity, AGL Energy, will be 'BBB+'.  The
outlook on both companies will be stable.  In line with the
expected rating on AGL Energy, the rating on AGL Hydro
Partnership is anticipated to be 'BBB+' with a stable outlook.  
The demerger scheme, which
requires shareholder approval, is expected to become effective
on March 31, 2006.

"While AGL Energy's business profile is weakened by its
substantial exposure to merchant risk, its minor debt load and
Standard & Poor's expectation that it will maintain extremely
robust cash flow metrics going forward should allow the demerged
entity to be rated 'BBB+'," said credit analyst Mark Legge,
Corporate & Infrastructure Finance Ratings group.

The anticipated rating on AGL Infrastructure will reflect the
strong business profile of its wholly owned electricity and gas
networks, generally robust market and competitive positions of
its businesses, anticipated solid growth in energy demand, and
diversity of operations.  These strengths are offset by the
company's aggressive risk appetite, weak projected cash flow
metrics, and aggressive dividend policy.  The rating assumes the
development of the PNG gas pipeline does not detract from AGL
Infrastructure's creditworthiness.

Headquartered in New South Wales, Australia, Australian Gas
Light -- http://www.agl.com.au/-- is a gas and electricity  
retailer to about three million customers.  It has an extensive
portfolio of wholly and partly owned investments in energy
infrastructure, infrastructure management and other energy
companies.  AGL's business involves buying and selling gas and
electricity from gas producers and electricity generators;
transporting gas and electricity to customers via gas pipelines
and power lines; owning and investing in power generation  
plants, electricity and natural gas distribution networks;
providing customers with a wide range of energy products and
services; and designing, constructing, operating, maintaining
and managing energy infrastructure through its wholly owned
business, Agility.  


AUSTRALIAN GAS: Assures Combined Dividend for Shareholders
----------------------------------------------------------
As previously reported in the Troubled Company Reporter - Asia
Pacific, Australian Gas Light Company will be demerged into an
infrastructure business and an energy/retail business -- AGL
Infrastructure and AGL Energy -- to create longer term value for
its shareholders.

In support of the demerger, AGL said that shareholders will
receive a combined 66 cent dividend for the 2006 financial year
if they continue to hold shares in both AGL Infrastructure and
AGL Energy after the split.  This includes an anticipated 31
cents per share interim dividend from the current AGL for the
six months to December 31, 2005.

The forecast dividend will increase to 77.5 cents in 2007.

AGL believes that separating the energy business from the
infrastructure business will allow each company to focus on its
own strategies and on the core tasks for success.  AGL Energy
will have the funding capacity to invest in both retail and
power generation assets while AGL Infrastructure will derive
most of its earnings from regulated tariffs that are by paid
users of networks and pipelines.

AGL shareholders will vote on the demerger on March 27, 2006.

Headquartered in New South Wales, Australia, Australian Gas
Light -- http://www.agl.com.au/-- is a gas and electricity  
retailer to about three million customers.  It has an extensive
portfolio of wholly and partly owned investments in energy
infrastructure, infrastructure management and other energy
companies.  AGL's business involves buying and selling gas and
electricity from gas producers and electricity generators;
transporting gas and electricity to customers via gas pipelines
and power lines; owning and investing in power generation  
plants, electricity and natural gas distribution networks;
providing customers with a wide range of energy products and
services; and designing, constructing, operating, maintaining
and managing energy infrastructure through its wholly owned
business, Agility.  


BELL ENTERPRISE: Prepares to Pay Dividend
-----------------------------------------
Bell Enterprise Pty Limited will declare a first and final
dividend on February 16, 2006.

Creditors who are unable to prove their debts or claims will be
excluded from the benefit of the dividend.


CBSNA PTY: Shareholders Decide to Close Business
------------------------------------------------
At a meeting of the shareholders of CBSNA Pty Limited on
January 13, 2006, it was agreed that the Company wind up its
operations voluntarily.

As a result, Matthew Addison was appointed to oversee the
Company's liquidation.


COBRA TOOLING: Commences Liquidation Process
--------------------------------------------
Pursuant to Section 241(2)(a) of the Companies Act 1993, the
shareholders of Cobra Tooling Limited agreed to voluntarily
liquidate Company.  They appointed John Albert Price, insolvency
practitioner, and Christopher Robert Ross Horton, chartered
accountant, as liquidators to facilitate the Company's wind-up.

Moreover, the Company's creditors are required to submit proofs
of claims and establish the priority of their claims by Feb. 24,
2006, to the liquidators.


CO-GENERATION AUSTRALIA: Liquidator to Give Wind-up Report
----------------------------------------------------------
A final meeting of the members of Co-Generation Australia
Limited will be held for them to receive the liquidator's final
account showing how the Company was wound up and how its
property was disposed of.

The meeting will be held today, February 14, 2006.


EASTELECTRIC PTY: To Declare Dividend on Feb. 16
------------------------------------------------
Eastelectric Pty Limited will declare its first dividend on
February 16, 2006.

Creditors who are not able to prove their claims will be
excluded from the dividend distribution.


EP & K TARLINTON: Decides to Shut Down Operations
-------------------------------------------------
On January 20, 2006, the sole member of EP & K Tarlinton Pty
Limited resolved to wind up the Company's operations.

Michael Edward Slaven, of Rangott Slaven Hundy, was appointed to
manage the Company's wind-up activities.


HORTON PARK: Liquidator to Distribute Assets
--------------------------------------------
After their general meeting on January 17, 2006, the members of
Horton Park Freehold Pty Limited resolved to close the Company's
business operations and distribute the proceeds of its assets.

Subsequently, Michael Cannon was appointed as liquidator.


HOT ART: Creditors' Proofs of Claim Due on Feb. 27
--------------------------------------------------
Hot Art Limited appointed insolvency practitioners Karen Betty
Mason and Jeffrey Philip Meltzer as its liquidators, pursuant to
Section 241(2)(a) of the Companies Act 1993.

The liquidators have fixed February 27, 2006, as the date by
which the Company's creditors must submit their proofs of claims
and establish any priority their claims may have to:

          Meltzer Mason Heath
          Chartered Accountants
          P.O. Box 6302, Wellesley Street,
          Auckland
          Telephone: (09) 357 6150
          Facsimile: (09) 357 6152.


JUMBANI PTY: Members Pass Winding Up Resolution
-----------------------------------------------
On January 20, 2006, the members of Jumbani Pty Limited agreed
that a voluntary wind-up of the Company is necessary and in its
best interests.

As a result, Geoffrey Donald Finch, of KPMG, was appointed as
official liquidator.


KALPARA PTY: Members Receive Wind-up Details
--------------------------------------------
The members of Kalpara Pty Limited convened today, February 14,
2006, at 10:00 a.m., to receive the liquidator's account
regarding the Company's completed wind-up and disposal of
property.


KLEEMANN HOLDINGS: Winds Up Operations
--------------------------------------
Members of Kleemann Holdings Pty Limited convened on January 20,
2006, to liquidate the Company's business operations.

Angela Ann Gaffney was appointed as the official liquidator for
that purpose.


MELOV HOLDINGS: Members Agree on Liquidation
--------------------------------------------
At Melov Holdings Pty Limited's general meeting on January 19,
2006, members agreed that it is in the Company's best interests
to liquidate its operations.

John D. Scarfe was appointed to supervise the wind-up.


NOLRAS PTY: Creditors' Claims Due on Feb. 21
--------------------------------------------
Nolras Pty Limited will declare its first and final dividend to
creditors.

Creditors whose debts or claims have not already been admitted
must submit their proofs of claim by February 21, 2006, to
liquidator D. J. F. Lombe, of Deloitte Touche Tohmatsu.


O'BRIEN OCCUPATIONAL: Commences Liquidation
-------------------------------------------
The creditors of O'Brien Occupational Health & Safety Pty
Limited convened on January 18, 2006, and concurred that the
Company should wind up its operations voluntarily.

In addition, the creditors appointed Glenn Anthony Crisp of RSM
Bird Cameron Partners as liquidator.


OPEN MARKETS: Inability to Pay Debts Prompts Wind-up
----------------------------------------------------
Open Markets Pty Limited has determined that, due to its
inability to pay its debts, a voluntary wind-up of its business
operations is appropriate and necessary.

In that regard, Richard Albarran and Blair Pleash were appointed
to oversee the Company's liquidation activities.


PK BRANDS: Enters Voluntary Liquidation
---------------------------------------
To enable PK Brands Limited to pay its debts, the directors
resolved that the Company be placed under liquidation.

Accordingly, PK Brands appointed Anthony John McCullagh and
Stephen Mark Lawrence as its liquidators.

Creditors are required to submit to the liquidators the proofs
of their claims against the Company by February 28, 2006.


PEARL GROVE: Schedules Final Meeting on Feb. 14
-----------------------------------------------
A final meeting of the members and creditors of Pearl Grove Pty
Limited will be held today, February 14, 2006.

At the meeting, liquidator Mervyn J. Kitay, of Grant Thornton,
will report the activities that took place during the wind-up
period as well as the manner by which the Company's property was
disposed of.


PROMINORA PTY: To Distribute Dividend
-------------------------------------
Prominora Pty Limited will declare a dividend to its creditors
on February 16, 2006.

Creditors who are unable to prove their claims will be excluded
from the benefit of the dividend.


Q & K PTY: S. Arnatovic Named to Liquidate Firm
-----------------------------------------------
Members of Q & K Pty Limited held a meeting on January 18, 2006,
and agreed on the Company's need to liquidate.  They named S.
Arnautovic, of Jirsch Sutherland Chartered Accountants, to
manage the Company's wind-up activities.


QANTAS AIRWAYS: Profit Expected to Be Down by AU$100 Million
------------------------------------------------------------
Quantas Airways' net profit for the first half is expected to be
around AU$100 million below that of the same period in 2005, The
Australian says.  

The paper also relates that Qantas is expected to post AU$350
million in interim net profit on Thursday, with the market
forecasts for the six months to December 31, 2005, ranging from
AU$304.2 million to AU$370 million.  It is also expected to
report an increase in first-half group revenue from AU$6.43
billion in 2004-05 to AU$7.13 billion in the current year.

Moreover, Qantas' fuel bill for the first half this year is
expected to rise by AU$700 million before hedging and fuel
surcharges.  The Australian explains that the AU$700-million
fuel price effect will be ameliorated by the airline's fuel
surcharge and an aggressive hedging policy, which has it paying
an average of US$55 a barrel for the current 2005-06.

This week's results, according to the paper, come as the airline
has resumed talks with maintenance unions facing the choice of
slashing costs or seeing thousands of jobs outsourced overseas.
Unions have warned it could face a significant industrial
campaign if it fails to reach agreement on its maintenance
operations.

                          About Qantas

Qantas Airways -- http://www.qantas.com.au/-- is the world's  
second oldest airline.  Qantas is also recognized as one of the
world's leading long-distance airlines, having pioneered
services from Australia to North America and Europe.  The Qantas
Group employs approximately 38,000 staff across a network that
spans 145 destinations (including codeshare services) in
Australia, Asia-Pacific, Americas, Europe and Africa.  The
Qantas Group also operates a diverse portfolio of airline-
related businesses, including Engineering Technical Operations
and Maintenance Services, Airports and Catering, Qantas Freight,
Qantas Holidays, Qantas Defence Services and Qantas Consulting.  
In the year ended June 30, 2005, Qantas recorded a profit before
tax of AU$1,027.2 million, up AU$62.6 million or 6.5% on the
previous year.  Net profit after tax of AU$763.6 million was
17.8% up on the prior year.  Revenue increased by 11.4% to
AU$12.6 billion.  The Directors declared a fully franked final
dividend of 10 cents per share, bringing total fully franked
dividends for the year to 20 cents per share.


SEAVIEW CORNER: Liquidates Company Property
-------------------------------------------
Seaview Corner Mall Limited has commenced liquidation of its
property.  Its directors clarified that Seaview is a solvent
company that had ceased to trade.

The Company's shareholders appointed James Bruce Alfred
McAlister and Grant Stephen Jarrold to facilitate its wind-up
activities.

The liquidators have set February 28, 2006, as the date by which
creditors must prove any claim against the Company and establish
any title they may have to priority, under Section 312 of the
Companies Act 1993.


SOFENIS N. LABOUR: Appoints Liquidator to Oversee Wind-up
---------------------------------------------------------
In accordance with Section 241(2)(a) of the Companies Act 1993,
shareholders of Sofenis N. Labour Hire Limited decided that the
Company be liquidated.  They named Grant Bruce Reynolds,
insolvency practitioner of Auckland, as liquidator.


TELSTRA CORPORATION: Ignored Board's Decision, Senator Says
-----------------------------------------------------------
Victorian Liberal senator Michael Ronaldson disclosed during a
Senate estimates hearing yesterday that Telstra Corporation had
earlier planned a major fault repair project, the Australian
Associated Press reports.  Senator Ronaldson claimed that he
received a copy of Telstra's draft media release, which stated
that the project would "draw upon network data to better
identify services that are underperforming on a persistent
basis."

According to AAP, Senator Ronaldson believes that Telstra's
Board of Directors was the one who decided on the project before
Sol Trujillo was appointed as the Company's chief executive
officer in July 2005.  The project, he said, required the
Company to spend AU$200 million a year to improve faults on its
network, and in turn, would have assisted 200,000 customers.

Mr. Ronaldson, however, noted that the media release was pulled
out from Telstra's Web site late 2005, and that the project did
not push through.  This led Mr. Ronaldson to question whether
Mr. Trujillo did not think 200,000 customers deserve a board-
approved expenditure.

In Telstra's and Mr. Trujillo's defense, company secretary
Douglas Gration told the Senate's communications estimates
committee that the media release was only issued to the
Government and the National Farmers Federation.  Mr. Gration
further explained that the Board was briefed on the project, but
Mr. Trujillo later undertook a strategic review of that project,
which was publicly released in November 2005.

Mr. Trujillo's review found that Telstra would spend up to
AU$3 billion on its networks, AAP cites Mr. Gration as saying.
"We have gone from AU$200 million here to AU$2 to AU$3 billion,"
he added.

Mr. Gration contended that Telstra had opted not to put the
"Bandaid programs" in place, yet transform the Company to better
improve its services.

                Telstra's Increasing Fault Rates

Opposition communications spokesman Stephen Conroy also
questioned Telstra on why its fault rates were increasing,
quoting figures that showed a rise in the overall fault rate
from 11.5 faults per 100 lines per year, to 14.2, while the
country fault rates had risen from 13.35 in 2002 to 16.09 in
2005.

In response, Telstra service chief Ken Sheargold said that the
extra services and technology attached to the network, weather
conditions and ageing computer systems were additional factors.  
However, Mr. Sheargold noted, the Company was reporting "good
performance numbers" in its official figures released by the
Australian Communications and Media Authority.

                       Trujillo: A No Show

The Senate Estimates Committee had asked Mr. Trujillo to attend
the meeting in Canberra.  He, however, sent his team of
executives instead.

The executives informed the Senate that Mr. Trujillo is in
Barcelona, Spain.

Mr. Gration, according to AAP, explained that the telco had
never, in its recent history, sent a chief executive to answer
senators' questions.  He said that Mr. Trujillo "is across the
company's affairs" and that it is Telstra's "view the executives
before you are the executives that have the sort of answers this
committee puts" after being asked whether Mr. Trujillo was not
well-briefed to answer the Senate's queries.

Headquartered in Melbourne, Victoria, Australia, Telstra  
Corporation -- http://www.telstra.com.au/-- is an Australian   
telecommunications and information services company.  Telstra  
offers a full range of services and compete in all  
telecommunications markets throughout Australia, providing more  
than 10.3 million Australian fixed line and more than 6.5  
million mobile services.  Telstra's international business  
includes Hong Kong CSL Limited, TelstraClear Limited, and Reach  
Ltd.


TELSTRA CORPORATION: Government Monitors Mobile Switch-off
----------------------------------------------------------
The Federal Government of Australia has set up a working group
that would monitor Telstra Corporation's plans to switch off its
CDMA mobile phone network in the bush and move to a digital
system, the Australian Associated Press relates.

CDMA stands for Code-Division Multiple Access.

Telstra had said that it will switch off the CDMA network once
its new 3G network can provide coverage.

The AAP cites Communications Minister Helen Coonan as saying
that the working group would ensure Telstra's smooth transition
from the old to the new network.

"While Telstra is bound by licence conditions and current
contractual arrangements to provide a digital mobile network in
regional Australia, the working group will ensure a cooperative
and coordinated approach to replicating the coverage of the
existing CDMA network," Senator Coonan said.  She further said
that the monitoring is also about ensuring that the Company
"provides Australians living in rural, regional and remote areas
with adequate mobile phone coverage during the rollout of its
next generation network."

According to AAP, the group will consider how the 3G network can
meet the quality and coverage of the CDMA network, details of
planned trials of the 3G network and the role of the Australian
Communications and Media Authority.

Under its licence conditions, Telstra must maintain a digital
mobile network in regional Australia on the 800 MHz band, which
is the band used for CDMA.  Telstra also has contractual
obligations to provide mobile phone services for at least 10
years in almost 1,000 locations subsidized by the Government.

The working group will meet for the first time this week.

Headquartered in Melbourne, Victoria, Australia, Telstra  
Corporation -- http://www.telstra.com.au/-- is an Australian   
telecommunications and information services company.  Telstra  
offers a full range of services and compete in all  
telecommunications markets throughout Australia, providing more  
than 10.3 million Australian fixed line and more than 6.5  
million mobile services.  Telstra's international business  
includes Hong Kong CSL Limited, TelstraClear Limited, and Reach  
Ltd.


WANWIRRI PTY: Liquidator to Give Wind-up Report
-----------------------------------------------
A final meeting of Wanwirri Pty Limited will be held on Feb. 14,
2006.

Liquidator Geoffrey Reidy, of Rodgers Reidy, will present his
final account regarding the Company's wind-up operations at that
meeting.


WATTYL LIMITED: Barloworld Offers AU$321 Million for Wattyl
-----------------------------------------------------------
Barloworld Ltd. made a AU$321 million friendly takeover bid for
Wattyl Limited yesterday, beating Allco Equity Partners' AU$275
million offer.

In that regard, the Australian Competition and Consumer
Commission has commenced market enquiries into Barloworld's
proposed acquisition of Wattyl, the Australian Associated Press
reports.

The ACCC will closely assess the likely effect of Barloworld's
AU$3.80-per-share acquisition offer on competition, as
Barloworld and Wattyl were two of the three major suppliers of
architectural and decorative paints in Australia -- the other
being Orica.  The ACCC says it needs to consider how a merger
between the South African-based paint maker and Wattyl would
impact competition to supply their trade customers.

Barloworld had earlier said that it had already held preliminary
talks with the ACCC, AAP relates.

Wattyl welcomed the Barloworld offer, which supports the
Company's earlier contention that Allco's AU$3.25-per-share
offer is inadequate.  Wattyl will accept Barloworld's proposal
absent any higher offer.

As reported earlier in the Troubled Company Reporter -  Asia
Pacific, Wattyl's shares were placed in a trading halt on
Friday, as the Company told the market that it was involved in
confidential negotiations.

Barloworld owns the Taubmans, Bristol and White Knight Paints
brands in Australia.

Headquartered in North Ryde, New South Wales, Wattyl Limited --
http://www.wattyl.com.au/-- is a paint and surface coatings  
company that produces a broad range of paints, varnishes,
lacquers and special purpose protective coatings.  With
operations in Australia and New Zealand, Wattyl employs over
2,000 people.  The Company's origins date back to the
development of crystal veneer, which is a treatment for reviving
French-polished furniture.  Wattyl has then developed more
special products, including protective coatings with long term
exterior durability, high performance marine coating systems,
UV-cured timber finishes, specialized protective coatings that
enable easy removal of graffiti from treated surfaces, and
special effect finishes for automotive wheels and components.


WESTERN METALS: Receivers Cease to Act
--------------------------------------
On January 19, 2006, David Laurence McEvoy and Stephen Graham
Longley ceased to act as receivers and managers of Western
Metals Marketing Pty Limited.


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

CHUNG MING: Members & Creditors to Meet on Feb. 20
--------------------------------------------------
The members and creditors of Chung Ming Construction Limited
will meet on February 20, 2006, at 9:00 a.m. and 9:30 a.m.,
respectively, at the 5/F, Allied Kajima Building, 138 Gloucester
Road, in Wanchai, Hong Kong.

At the meetings, the parties will be accepting the resignation
of David John Kennedy as the Company's liquidator, and appoint
Cosimo Borrelli in his place.

Creditors and members may vote either in person or by proxy.


CORRATE COMPANY: Creditors' Proofs of Claim Due on March 15
-----------------------------------------------------------
The creditors of Corrate Company Limited are required to submit
the particulars of their debts or claims, as well as any
information regarding their solicitors, if any, by March 15,
2006.  The proofs of claims must be submitted to the Company's
liquidator, Leung Fung Yee Alice.

If the liquidator requires, the creditors must come in
personally or by their solicitors and prove their claims at the
time and place specified in the notice.

Creditors who are unable to formally prove their claims will be
excluded from any distribution.


ENFIELD CONSTRUCTION: Liquidator to Present Company Report
----------------------------------------------------------
The meetings of the members and creditors of Enfield
Construction Company Limited will be held for them to receive
the liquidator's final account showing how the Company was wound
up.

The meeting among members will be held on February 17, 2006, at
9:00 a.m., at the 27th Floor, Alexandra House, 18 Chater Road,
in Central, Hong Kong.  The creditors' meeting will take place
at 10:00 a.m.


GT SPORT: Set to Close Business
-------------------------------
On February 1, 2006, the High Court of the Hong Kong Special
Administrative Region Court of First Instance released an order
approving a petition to wind up GT Sport Limited.


HYDROTECH PROFESSIONAL: Court Enters Wind-Up Order
--------------------------------------------------
Hydrotech Professional Limited had presented a petition to wind
up its operations.

On January 25, 2006, the High Court of the Hong Kong Special
Administrative Region Court of First Instance entered a wind-up
order pertaining to the Company.


HONGKONG CONSTRUCTION: Members & Creditors to Meet on Feb. 20
-------------------------------------------------------------
At a meeting on February 20, 2006, the members and creditors of
Hongkong Construction (Works) Limited will tackle the
resignation of David John Kennedy as joint and several
liquidator, and the appointment of Cosimo Borrelli in his place.

Creditors or members may vote either in person or by proxy.


KOJIMA CORPORATION: Court to Hear Wind-Up Petition on March 29
--------------------------------------------------------------
On January 24, 2006, Kyomeido (BVI) Limited presented a petition
to wind up Kojima Corporation Limited.

The Petition will be heard before the High Court of Hong Kong
Special Administrative Region on March 29, 2006, at 9:30 a.m.

Creditors or contributories of the Company who wish to support
or oppose the Petition may appear in Court at the time of the
hearing.  A written notice of the creditor's or contributory's
intention must be sent not later than 6:00 p.m., on March 28,
2006, to:

          Wong & Fok
          Solicitors for the Petitioner
          Room 605, 6th Floor
          Admiralty Centre, Tower 1
          18 Harcourt Road
          Admiralty, Hong Kong


LINKCITY TECHNOLOGIES: Court Issues Wind-Up Order
-------------------------------------------------
The petition to wind up Linkcity Technologies Limited will be
heard before the High Court of Hong Kong Special Administrative
Region on March 8, 2006, at 9:30 a.m.

Creditors or contributories who wish to support or oppose the
Petition may appear in Court at the time of the hearing.  A
written notice of the creditor's or contributory's intention
must be sent not later than 6:00 p.m., on Feb. 21, 2006, to:

          Cheung & Choy
          Solicitors for the Petitioner
          Room 612, Wing On Centre
          111 Connaught Road
          Central, Hong Kong


MILKWAY IMAGE: Net Loss Swells to HK$14.7 Mln
---------------------------------------------
Milkway Image Holdings Limited reported a net loss of HK$14.69
million for the nine months ended December 31, 2005, compared
with the HK$1.45 million net loss in the same period a year
earlier, Infocast News relates.

The loss per share is HK$0.0182.

No dividend was declared for the fiscal third quarter.

Headquartered in Kowloon, Hong Kong, Milkway Image Holdings
Limited -- http://www.milkywayimage.com-- is principally  
engaged in the provision of film production services for film
companies in Hong Kong.  The film production services rendered
by the Group comprise mainly three parts, namely the pre-
production phase, the shooting phase and the post-production
phase.  The group's operation is located in Hong Kong.


MONDEX LIMITED: Creditors' Proofs of Claim Due on March 10
----------------------------------------------------------
Creditors of Mondex Limited are required to submit the
particulars of their debts or claims, as well as any information
regarding their solicitors, by March 10, 2006.  

The proofs of claim must be submitted to the Company's
liquidators, Stephen Liu Yiu Keung and Robert Armor Morris.


NH TRADING: Commences Winding Up Process
----------------------------------------
NH Trading Limited has received a wind-up order from the High
Court of the Hong Kong Special Administrative Region Court of
First Instance on January 25, 2006.


PROFIT INTERFACE: Creditors Agree on Liquidation
------------------------------------------------
On February 27, 2006, the creditors of Profit Interface No. 7
Limited passed a special resolution to liquidate the Company's
operations.

Jakcy Chung Wing Muk and Edward Simon Middleton were appointed
joint and several liquidators.

The liquidators request the Company's creditors to prove their
claims and to establish any priority their claims may have by
February 27, 2006.  Failure to comply with the requirement will
exclude them from the benefit of any distribution.


S&D INTERNATIONAL: Company Gets Wind-up Order
---------------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court of First Instance has entered an order approving S&D
International Limited's wind-up.


SOUTH CHAMP: Court Enters Wind-Up Order
---------------------------------------
South Champ Trading Limited had presented a petition to wind up
its operations.

Accordingly, on January 17, 2006, the High Court of the Hong
Kong Special Administrative Region Court of First Instance
entered a wind-up order pertaining to the Company.


TEMBO INDUSTRIAL: Decides to Close Operations
---------------------------------------------
A winding up petition was served on Tembo Industrial Limited on
December 5, 2005.

On January 25, 2006, the High Court of the Hong Kong Special
Administrative Region Court of First Instance released an order
to wind up the Company.


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

CITICORP BROKERAGE: Surrenders Registration Certificate
-------------------------------------------------------
Citicorp Brokerage (India) Ltd. was registered with the
Securities and Exchange Board of India as an Underwriter under a
certificate of registration dated November 6, 2001.

On March 23, 2004, Citicorp Brokerage surrendered its
Certificate of Registration and, pursuant to the terms of
Regulation 15(i) of the SEBI (Procedure for Holding Enquiry by
Enquiry Officer and Imposing Penalty) Regulations, 2002, a
summary procedure under Regulation 16 was initiated against the
Company.  The SEBI appointed an enquiry officer, who submitted
his report on the summary procedure on January 1, 2005.

The enquiry officer reported that Citicorp has no inquiry
initiated against them with respect to any of their activities
in the past or present, has no pending assignment, has no
incomplete mandates, and there have not been any adverse remarks
in any of the assignments it handles.

Thus, after considering the facts and the report and
recommendation of the enquiry officer, the SEBI has issued an
order, dated January 31, 2006, accepting Citicorp's surrender of
its Certificate of Registration as an Underwriter.


PILIBHIT FINANCE: Reserve Bank Cancels Registration Certificate
---------------------------------------------------------------
On January 13, 2006, the Reserve Bank of India cancelled the
certificate of registration granted to Pilibhit Finance Limited
for carrying on the business of a non-banking financial
institution.  Following the cancellation, Pilibhit Finance
cannot transact the business of a non-banking financial
institution.

The Company has also been prohibited from accepting public
deposits and alienating any of its assets.

Under Section 45-IA (6) of the Reserve Bank of India Act, 1934,
the Reserve Bank can cancel the registration certificate of a
non-banking financial company.  Under Section 45MB (1) of this
Act, the Reserve Bank can prohibit non-banking financial company
from accepting deposits, and under Section 45MB (2), it can
prohibit the company from alienating its assets.  The business
of a non-banking financial institution is defined in clause (a)
of Section 45-I of the Reserve Bank of India Act, 1934.


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

MERPATI NUSANTARA: To Open Lampung-Bandung Route
------------------------------------------------
PT Merpati Nusantara Airlines will expand its domestic routes by
flying direct from Lampung to Bandung and Cilacap, Asia Pulse
reports.

Citing MNA Lampung district manager Hendy Purwadi, Asia Pulse
relates that MNA also plans to open a route from Lampung to
Palembang, Indonesia, in the future.  These routes were
temporarily suspended earlier, due to the lack of B737-200
aircraft suitable for such flights.  Yet now, the Company plies
the domestic routes using CN-235 airplanes.

MNA is slated to borrow some funds from the Indonesian
Government in order to serve pioneer routes to destinations in
the more remote islands of Indonesia.  The total cost to open
the domestic routes is estimated at IDR79 billion, according to
MNA managing director Hotasi Nababan.  Despite the small
revenues, MNA is determined to help the local people of Papua,
Sulawesi, Maluku and Nusa Tenggara by promoting tourism in
certain destinations.  The Company will start offering services
to such areas this month.

PT Merpati Nusantara Airlines - http://www.merpati.co.id/-- was  
founded in 1962, and is an international and domestic scheduled
passenger airline that is 100%-owned by the Indonesian
government.  With its main operating base in Indonesia, it flies
to certain destinations in Indonesia and the surrounding
Southeast Asia area.


PERTAMINA: Blamed for Failure to Meet Targeted State Income
-----------------------------------------------------------
Indonesian Finance Minister Sri Mulyani Indrawati blames PT
Pertamina for contributing to the state's decreased income, The
Oil & Gas Journal relates.

According to Minister Indrawati, Indonesia's 2005 state income
amounted to IDR495.4 trillion, lower than the projected income
of IDR540 trillion set in the state budget.  Minister Indrawati
added that Pertamina's failure to meet its financial obligations
contributed to the state not meeting its projected figure.

It was previously announced that Indonesia's crude oil output
reached only 955,000 barrels per day, while the targeted output
was 1.07 million barrels per day.  A lack of exploration and
development would also hinder the country from meeting a
targeted 1.3 million barrels-per-day crude oil output by 2009,
the Oil & Gas Journal reports.

PT Pertamina (Persero) -- http://www.pertamina.com-- is a  
wholly state-owned enterprise.  The enactment of Oil and Gas Law
No. 22/2001 in November 2001 and Government Regulation No.
31/2003 has changed its legal status from a special state-owned  
enterprise into a Limited Liability Company.  In carrying out
its activities, PT Pertamina (Persero) implements an integrated
system from upstream to downstream.  Under the Ministry of
State-owned Enterprises, PT Pertamina (Persero) commits to
deliver high quality products and services to the stakeholders
as well as increase its contribution to the nation's wealth.  PT
Pertamina (Persero) has 14 subsidiaries, among which include viz
Pertamina Energy Trading Limited (Petra)/oil and gas trading, PT
Elnusa Harapan/marketing and trading, PT Pelita Air
Service/airline service and PT Perta Medika/hospital.


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

LIVEDOOR CO.: Faces Possible Delisting
--------------------------------------
The Tokyo Stock Exchange is likely to delist the shares of
Livedoor Co. and its unit, Livedoor Marketing, if prosecutors
will indict its former president Takafumi Horie and several
executives on a new charge of falsifying corporate financial
statements, AFX News says.

The Securities and Exchange Surveillance Commission of Japan
earlier filed criminal complaints against Livedoor, Mr. Horie,
and other officers on suspicion of releasing false information
during the takeover of Money Life by subsidiary Livedoor
Marketing in 2004.

Headquartered in Tokyo, Japan, Livedoor Co. Ltd.
-- http://corp.livedoor.com/en/-- is into Internet-related  
business.  It is involved in many sectors, including out portal
site "livedoor", financial business, corporate web solution,
data center and IP telephony business.


MITSUBISHI MOTORS: To Export New Triton Pickup Worldwide
--------------------------------------------------------
Mitsubishi Motors Corporation disclosed that the exports of the
new Triton pickup truck produced at Mitsubishi Motors (Thailand)
Co., Ltd., are to move onto a full-scale footing in the second
half of 2006.

The Company announced in a press release that the commencement
of full-scale exports follows the start of Triton shipments to
Europe (L200 in Europe) in December 2005.  Triton is to be
shipped to about 140 markets around the globe, including
Australia, the Middle East, Latin America, the ASEAN region, and
Japan.

Developed as a global model and launched in Bangkok on Aug. 25,
2005, Triton has been well received in Thailand for its
passenger car-like ride comfort, powerful common-rail direct
injection diesel engine, and its original styling, with post-
launch cumulative sales totaling 16,300 units at the end of
January 2006.  Mitsubishi Motors increased its share in the Thai
pickup market to 8.5% in calendar 2005, up 0.6 points on 7.9% in
2004.

Mitsubishi Motors has been exporting vehicles produced locally
in Thailand since 1988 and became the first manufacturer in
Thailand to reach cumulative total exports of 800,000 vehicles
(as of January 2006).  As such Mitsubishi Motors has made and
continues to make a major contribution to the Thai economy by
promoting growth of the Thai automotive industry, by creating
employment, and by earning foreign exchange.  Expectations are
high regarding the major role this global export hub will play
in the future.

Headquartered in Tokyo, Japan, Mitsubishi Motors Corporation
-- http://www.mitsubishi-motors.co.jp-- is one of the few  
automobile companies in the world that produces a full line of
automotive products ranging from 660-cc mini cars and passenger
cars to commercial vehicles and heavy-duty trucks and buses.  
The Company also operates consumer-financing services and
provides this to its customer base.  Mitsubishi's problems stem,
in part, from the scandal surrounding years of systematically
covering up defects and ill-advised auto lending policies in the
United States.


TAIHO INDUSTRIES: IRCJ Completes Debt Payment
---------------------------------------------
On December 30, 2005, the Industrial Revitalization Committee of
the Industrial Revitalization Corporation of Japan has approved
the transfer of debt and receipt of payment in full for the debt
that IRCJ had purchased as part of a business revitalization
plan for Taiho Industries Co. Limited.

To recall, in May 2004, the IRCJ approved an application for
assistance by Taiho under Article 22, Clause 3 of the Industrial
Revitalization Corporation Act of 2003.  On July 5, 2004, the
IRCJ reached agreement with financial institutions on the
purchase of this Company's debts, and in September 2004 a
capital decrease and increase was carried out.

On January 25, 2006, in accordance with an agreement signed
between the IRCJ and Ichinen Corporation, all preferred shares
(first tier class B preferred shares with no voting rights) held
by the IRCJ were transferred to Ichinen Corporation.

The principal value of Taiho's debt was JPY4,271 million, for
which the IRCJ paid financial institutions JPY4,057 million.  In
accordance with the revitalization plan, JPY850 million of the
debt was exchanged for equity and repayments for the remaining
JPY3,421 million were to be undertaken.  The recent payment of
JPY2,270 million means that the amount of Taiho debt owing to
the IRCJ has now been paid in full.

Headquartered in Tokyo, Japan, Taiho Industries Co. Limited's
-- http://www.taihokogyo.co.jp-- principal activity is to  
manufacture industrial chemicals.  The products include fuel
additives, industrial detergents, metal surface treating agents,
antirust agents, deforming agents, general industrial chemical
products including automobile waxes and detergents.  The Group's
operations include purchasing and selling of fuel oils and
lubricants, design and building of various industrial furnaces
for heat-treatment; large oil tank washing, plumbing,
maintenance and other works.  


TOHOKU MISAWA: JCR Upgrades Rating to BB
----------------------------------------
Japan Credit Rating Agency has upgraded the rating on senior
debts of Tohoku Misawa Homes Co. Limited from BB- to BB.  The
outlook is stable.

The progress of the Company's business revitalization plan with
the financial assistance of the Industrial Revitalization
Corporation of Japan has improved the lowered creditworthiness
of the Company.

Revenue of Tohoku Misawa Homes is expected to increase year-on-
year for the first time in 6 years for fiscal year through March
31, 2006.  The Company will turn profitable for the fiscal year
on an operating profit basis.  Although the capital remains
small, it is unlikely now that the financial structure will
deteriorate further, taking into account the fact that the
Company is now growing out of the deficit state.  The Company
needs to increase the sales force further to improve performance
in full swing.  Its business revitalization is gaining a
foothold as shown by the increasing sales.

Headquartered in Miyagi, Japan, Tohoku Misawa Homes Co. Ltd's
-- http://www.t-misawa.co.jp-- principal activity is to  
construct ceramic prefabricated houses.  The activities of the
Group include marketing of houses in lot, real estate agents,
fixed assets leasing and other house-related facilities and
furniture sales.


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

COCA COLA KOREA: Picks Reginald Randal to Head Business
-------------------------------------------------------
Coca-Cola Amatil's troubled South Korean soft drink arm, Coca-
Cola Korea Bottling Company Ltd, has named Reginald Emauel
Randal as its new president and chief executive officer, The
Korea Times said.

Mr. Randal joined Coca Cola in August 1999, and was in charge of
sales and marketing.  In July 2005, he was promoted to vice-
president, and was working as acting president when former CEO
David Westol left the Company due to health problems.  

Mr. Randal was able to develop new distribution channels and
streamlined the established ones to raise profits of the
American beverage maker.

"We will make an all-out effort to make Coca Cola the biggest
beverage company in Korea," Mr. Randal told Korea Times.

Lotte Chilsung Beverage holds the No. 1 spot among beverage
companies in Korea.

Headquartered in Seoul, South Korea, Coca Cola Korea Bottling
Co. Ltd. -- http://www.cocacola.co.kr/-- is the sole Coca-Cola  
franchisee in South Korea.  Coca-Cola was first introduced to
South Korea in 1951 and then re-entered the market in 1966.  By
1973, there were four independent bottlers.  In 1998 Coca-Cola
Amatil acquired 100% ownership of The Coca-Cola Company's
bottling operations in the country, the newly formed Coca-Cola
Korea Bottling Company, Ltd. (CCKBC).


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

AMSTEEL CORPORATION: Commission Dissolves Operations
----------------------------------------------------
The Board of Directors of Amsteel Corporation Berhad reports
that Tetap Bebas Sdn Bhd -- a wholly-owned subsidiary of the
Company -- was dissolved on February 10, 2006, pursuant to
Section 272(5) of the Companies Act, 1965.

Tetap Bebas had ceased operation and had, on November 10, 2005,
lodged with the Companies Commission of Malaysia the relevant
statutory forms together with the liquidator's Statement of
Accounts in relation to its voluntary wind-up.

The Board states that Tetap Bebas' dissolution does not have any
material impact on the earnings and net assets of the Amsteel
Group.

Headquartered in Kuala Lumpur, Malaysia, Amsteel Corporation
Berhad is involved in the provision of plantation management,
property development, management and contractor; hotel operation
and foodcourt.  The Company is also involved in transportation
and logistic services, department stores, nominee services,
trading securities, manufacture and sale of tools, dies, tyres,
rubber compound, light trucks and buses, financial management;
distributes steel products, develops real estate property;
cultivation of rubber and oil palm, golf and country club, sale
and distribute Suzuki motorcycles, beer brewing and mineral
water bottling.


ANCOM BERHAD: Buys Back Ordinary Shares
---------------------------------------
Ancom Berhad has repurchased 41,300 ordinary shares for MYR1.00
each during its shares buy-back on February 10, 2006.

The minimum price paid for each share purchased was MYR0.690,
while the maximum price was MYR0.700.

The number of shares purchased retained in treasury is 41,300
units.  Cumulative net outstanding treasury shares as at to-date
is 9,498,403 units.

Headquartered in Petaling Jaya, Selangor Darul Ehsan, Malaysia,
Ancom Berhad's -- http://www.ancom.com.my-- principal  
activities are the manufacturing and selling of agricultural
products (timber preservatives) and chemical products (ethanol,
sealants and adhesive).  The Group is also involved in trading
in petroleum-based products and industrial chemicals; building,
operating and managing own chemical tank farm; supply of goods
and services to oil and gas industry; ship-owning, ship
operating and ship management; investment holding, property
development and trading of computer hardware and software and
the rendering of IT related consulting service.


AYER HITAM: Posts MYR1,313,000 Net Loss in 2Q/FY05
--------------------------------------------------
Ayer Hitam Tin Dredging Malaysia Berhad has released its
unaudited Second Quarter Financial Report for the period ended
December 31, 2005.
        
         Individual Period              Cumulative Period
     Current Year  Preceding Year  Current Year  Preceding Year
       Quarter     Corresponding     to Date     Corresponding
                      Quarter                       Period
      31/12/2005    31/12/2004      31/12/2005    31/12/2004
       MYR'000     MYR'000         MYR'000     MYR'000

(1) Revenue

         117            540             206          7,274

(2) Profit/(loss) before tax

      -1,301         -2,652          -2,636         -7,253

(3) Profit/(loss) after tax and minority interest

      -1,313         -2,571          -2,675         -7,276

(4) Net profit/(loss) for the period

      -1,313         -2,571          -2,675         -7,276

(5) Basic earnings/(loss) per shares (sen)

      -1.94          -3.79           -3.95          -10.74

(6) Dividend per share (sen)

       0.00           0.00            0.00            0.00

(7) Net assets per share (RM)

        As at end of               As at Preceding
       Current Quarter            Financial Year End
         -0.3600                       -0.3100

Full-text copies of the financial statement and the notes to
financial statement is available for free at:

   http://bankrupt.com/misc/AyerHitamResults311205.xls
   http://bankrupt.com/misc/AyerHitamNotes311205.doc

Headquartered in Kuala Lumpur, Malaysia, Ayer Hitam Tin Dredging
Malaysia Berhad -- http://www.ahtin.com.my-- is involved in  
property development and the trading of promotional products and
services in Malaysia.  The Company is also engaged in the
trading of uninterrupted power supply equipment and magnetic
fuel treatment systems and the provision of investment holding,
nominee services, hotel development and management and
renovation services.


DAI HWA: Bursa Malaysia Delays Delisting Procedures
---------------------------------------------------
Bursa Malaysia Securities Berhad has decided not to commence
with the delisting procedures against Dai Hwa Holdings (M)
Berhad until the relevant authorities have already decided on
the Company's application for its regularization plans.

If Dai Hwa fails to obtain the relevant authorities' approval
and if it appeals the decision of the relevant authorities
concerned, Bursa Securities will await the outcome of Dai Hwa's
appeal.

Dai Hwa will proceed to implement its regularization plans
expeditiously within the time frames stipulated by the relevant
authorities in the event it obtains all relevant authorities'
approvals necessary for the implementation of its regularization
plans or if it succeeds in its appeal to the relevant
authorities.

Bursa Securities' decision is without prejudice to its right to
proceed to de-list the securities of the Company from the
Official List of Bursa Securities in the event:

  (i) Dai Hwa fails to obtain the approval from any of the
      relevant authorities necessary for the implementation of
      its regularization plans and does not appeal to the
      relevant authorities within the given timeframe (or
      extended time frame, as the case may be) to lodge an
      appeal;

(ii) Dai Hwa does not succeed in its appeal against the
      decision of the relevant authorities; or

(iii) Dai Hwa fails to implement its regularization plans within
      the time frame or extended time frames stipulated by the
      relevant authorities.

Headquartered in Johor, Malaysia, Dai Hwa Holdings (M) Berhad's
principal activity is investment holding.  All its subsidiaries
ceased operations on August 15, 2003, and remained dormant
since.


FOREMOST HOLDINGS: To Write Off Investment in Insolvent Unit
------------------------------------------------------------
On December 5, 2005, Sin Heng Chan Pte. Ltd. filed a petition to
wind up Tong Giap Feedmills Sdn Bhd with the High Court of
Penang.  Tong Giap is a 50%-plus-one-share-owned subsidiary of
Axasupreme Sdn Bhd, which, in turn, is 51% owned subsidiary of
Foremost Holdings Berhad.

Foremost recounts that Tong Giap purchased livestock feeds from
the Petitioner between November 2004 to February 2005, and
became indebted for MYR1,569,228.  Due to a default in payment,
the Petitioner gave a Notice to Tong Giap pursuant to Section
218 of the Companies Act, 1965.

Foremost tells Bursa Malaysia Securities Berhad that Tong Giap
is deemed to be insolvent and unable to pay its debts and faces
being wound up.  Foremost explain that it had not given any
corporate guarantees for Tong Giap's debts and will not face any
financial liabilities.  However, Foremost will write off its
investment in Tong Giap via its holding company, Axasupreme.

Foremost Berhad manufactures and sells automobile speakers, home
audio speakers, general-purpose speakers and speaker wooden
cabinets.  The Company is also engaged in the trading of auto
accessories, investment holdings and the provision of management
services.  Products are distributed in Malaysia, Singapore,
United Kingdom, Italy, Taiwan, USA, other Asian countries, other
European countries and other countries.


MAGNUM CORPORATION: Repurchases 600,000 Ordinary Shares
-------------------------------------------------------
At a shares buy-back on February 10, 2006, Magnum Corporation
Berhad repurchased 600,000 ordinary shares of MYR0.50 each.

The minimum price paid for each share purchased was MYR1.960,
while the maximum price was MYR2.000.

The number of shares purchased retained in treasury is 600,000
units.  Cumulative net outstanding treasury shares as at to-date
is 102,978,700 units.

Headquartered in Kuala Lumpur, Malaysia, Magnum Corporation
Berhad -- http://www.magnum.com.my-- operates a four-digit
number forecast betting game.  It is also engaged in property
holding and development and letting of properties, operation of
hotel, general investment holding and trading, printing
activities, credit services, securities dealing and brokerage,
and provision of computer software and other related services.
The Group sponsors Alex Yoong, the first Malaysian Formula One
driver, and KL Minardi Formula One Team.  Operations of the
Group are carried out in Malaysia, Hong Kong, The People's
Republic of China, Philippines and other countries.


MEDIA PRIMA: Converts ICULS to Ordinary Shares
----------------------------------------------
Media Prima Berhad's additional 190,700 new ordinary shares of
MYR1.00 each issued pursuant to the Employees' Share Option
Scheme and 596,000 new ordinary shares of MYR1.00 each arising
from the conversion of MYR894,000 nominal value of Irredeemable
Convertible Unsecured Loan Stocks 2003/2008 will be granted
listing and quotation by Bursa Malaysia Securities Berhad on
February 15, 2006.

Headquartered in Selangor Darul Ehsan, Malaysia, Media Prima
Bhd's -- http://www.mediaprima.com.my/-- principal activities  
are production of motion picture films and acquisition of ready-
made films from local producers and production houses.


METROPLEX BERHAD: Injunction Request Set for Hearing on Feb. 28
---------------------------------------------------------------
The application for an interlocutory injunction to restrain
Metroplex Berhad and its wholly owned subsidiary, Metroplex
Holdings Sdn Bhd, from selling Putra Place to Lembaga Kumpulan
Wang Simpanan Pekerja is now fixed for hearing on February 28,
2006.  The Injunction Application was filed by Morgan Stanley
Emerging Markets Inc.

The hearing will allow the respective parties to intervene and
file their respective affidavits in opposition to the
Application.

Commerce International Merchant Bankers Berhad, as security
agent for Metroplex's financial institution lenders, has filed a
request for authority to intervene and to resist Morgan
Stanley's application.


METROPLEX BERHAD: Hong Kong Court Reserves Judgment to Appeal
-------------------------------------------------------------
Morgan Stanley Emerging Markets Inc. has filed a petition to
wind up Legend International Resorts Limited -- a 59.99%-owned
subsidiary of Metroplex Berhad.  MSEMI also filed a request to
appoint a provisional liquidator for Legend International.

Legend International then submitted an appeal to strike out the
MSEMI Petition.

After hearing the parties' arguments, the Hong Kong Court of
Appeal has reserved its judgment in respect of Legend
International's appeal to strike out and MSEMI's appeal to
appoint a liquidator.

Headquartered in Kuala Lumpur, Malaysia, Metroplex Berhad is
engaged in hotel and casino operations.  The Company's other
activities include property investment, property development,
provision of administrative services, general and building
construction, leasing and financing, trading of building
materials and operation of hotel management training school.
Operations are carried out in Malaysia, Hong Kong and
Philippines.


PAN MALAYSIA: Holds Shares Buy-Back
-----------------------------------
On February 10, 2006, Pan Malaysia Corporation Berhad has
repurchased some 65,000 ordinary shares of MYR0.50 each and paid
a total consideration of MYR30,251.89.   

The minimum price paid for each share purchased was MYR0.455
while the maximum price was MYR0.465.

The number of shares purchased retained in treasury is 65,000
units.  Cumulative net outstanding treasury shares as at to-date
is 56,424,500 units.


PANTAI HOLDINGS: Bourse to List and Quote New Shares
----------------------------------------------------
Bursa Malaysia Securities Berhad will list and quote Pantai
Holdings Berhad's additional 461,300 new ordinary shares of
MYR1.00 each issued pursuant to the Employees' Share Option
Scheme will be granted listing and quotation on February 15,
2006.

Headquartered in Kuala Lumpur, Malaysia, Pantai Holdings Berhad
-- http://www.pantai.com.my-- provides medical, surgical and
hospital services.  The firms other activities include provision
of cleaning and maintenance services for hospitals, cardiac
cauterization, medical diagnostic, radiotherapy, oncology,
nurses training courses, medical laboratory, homecare,
rehabilitation, healthcare support, supervision of medical
examination of foreign workers, money lending, laundry and dry
cleaning and investment holding.  Operations are carried out in
Malaysia, Cayman Islands and the British Virgin Islands


POLYMATE HOLDINGS: Served with US$71,093.41 Claim
-------------------------------------------------
ABI Malaysia Sdn. Bhd., a wholly owned subsidiary of Polymate
Holdings Berhad, was notified of Chloride Batteries S.E. Asia
Pte. Limited's US$71,093.41 claim.  Chloride Batteries' Claim
was on account of goods it supplied to ABI Malaysia.

Headquartered in Selangor Malaysia, Polymate Holdings Berhad --
http://www.polymate.com.my/Hprofile_html.htm-- is engaged in
the manufacturing and marketing of lead acid batteries for the
automotive and related industries.  It is also engaged in the
manufacturing and dealing of plastic articles and products,
corrugated carton boxes and related products, manufacturing and
trading of door closers and trading of building materials,
investment holding and provision of corporate and financial
support services.  The Group operates in Malaysia, Australia,
New Zealand and Europe.


PUNCAK NIAGA: New Shares Up for Listing and Quotation on Feb. 15
----------------------------------------------------------------
Puncak Niaga Holdings Bhd's additional 40,000 new ordinary
shares of MYR1.00 each, issued pursuant to the Employees' Share
Option Scheme, will be granted listing and quotation by Bursa
Malaysia Securities Berhad on February 15, 2006.

Headquartered in Kuala Lumpur, Malaysia, Puncak Niaga Holdings
Bhd -- http://www.puncakniaga.com.my-- is engaged in the  
operation, maintenance, management, construction and
rehabilitation of water treatment facilities


SCOMI GROUP: Bourse to List and Quote New Shares
------------------------------------------------
Bursa Malaysia Securities Berhad will issue and quote Scomi
Group Berhad's additional 23,000 new ordinary shares of MYR0.10
each issued pursuant to the Employees' Share Option Scheme on
February 15, 2006.

Headquartered in Kuala Lumpur, Malaysia, Scomi Group Bhd --
http://www.scomigroup.com.my/publish/home.shtml-- provides  
drilling fluids and mud engineering services and the supply of
industrial and production chemicals to the upstream and
downstream oil and gas industry.


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

ABS-CBN BROADCASTING: Clarifies NTC "Possible Revocation" Report
----------------------------------------------------------------
In response to the Philippine Stock Exchange's request for
clarification on newspaper articles regarding the National
Telecommunications Commission's possible institution of license
revocation proceedings against ABS-CBN Broadcasting Corporation,
the network states that they have not received any formal notice
from the NTC regarding any such proceeding.

As reported in the Troubled Company Reporter - Asia Pacific, the
NTC earlier said that is set to review initial investigation
results regarding the February 4 stampede involving ABS-CBN's
noontime show, "Wowowee," which accident killed 74 and injured
around 400 people.  The state agency, which oversees radio and
television networks, stated that it would possibly revoke ABS-
CBN's license to operate if the network is found guilty of
neglecting its responsibilities as the show's organizer.

ABS-CBN Broadcasting or Alto Broadcasting System-Chronicle
Broadcasting Network -- http://www.abscbn-ir.com-- is a leading  
radio and television broadcasting network and multimedia company
in the Philippines.  It was founded in 1953, and was the first
television station in the Philippines.  The network's main
broadcast facilities are located at the ABS-CBN Broadcast Center
in Mother Ignacia St., Diliman, Quezon City, Philippines.


BENPRES HOLDINGS: Director Psinakis Steps Down
----------------------------------------------
At a regular meeting of the Board of Directors of Benpres
Holdings held on February 9, 2006, the directors accepted Steve
E. Psinakis' resignation as a member of the Board due to health
reasons.


PANASONIC MANUFACTURING: Ceases Production Line
-----------------------------------------------
Panasonic Manufacturing Philippines Corporation will cease the
production of its convenience products, specifically its oven
toaster, electric iron and electric stove, by the end of May
2006.

Panasonic disclosed to the Philippine Stock Exchange that the
phase out is due to the continuing decline in market share of
the convenience products and the inability of the Company to
cope with the unabated increase in raw materials prices.


VICTORIAS MILLING: Clarifies Asset Sale Report
----------------------------------------------
Victorias Milling Company Inc. responded to the Philippine Stock
Exchange's request to clarify the Manila Times newspaper report
saying that "Victorias Milling Co., the Philippines' largest
sugar miller, expects to post a profit in two to three years,
according to an official.  Omar Byron T. Mier, Victorias Milling
Chairman, said the Company foresees trading of its shares
resuming in five to six years.  Mier said a lot of opportunities
are open to Victorias Milling to make a profit in the coming
years, but failed to identify them.  To improve its financial
position, Victorias Milling is also selling some assets,
including unit Victorias Food Corporation.  Mier said the
Company is talking to prospective local buyers and hopes to
close a deal within the year."

The Company confirmed the statement of Mr. Mier on the possible
sale of some of its assets, including Victorias Foods
Corporation.  It also disclosed initial exploratory talks with
prospective local buyers.


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

CHINA AVIATION: To Extend Investment Deadline
---------------------------------------------
China Aviation Oil (Singapore) Corporation Limited entered into
a supplemental agreement with its investors, parent China
Aviation Oil Holdings Corp. and BP Plc, in relation to the
proposed amendment of the cut-off date of the parties'
investment into the Company.

CAO proposes to amend the cut-off date from February 28, 2006,
to March 31, 2006.

A full-text copy of CAO's 92-page circular shareholders is
available for free at:

   http://bankrupt.com/misc/tcrap_chinaaviation0209063.pdf

Incorporated in 1983, China Aviation Oil (Singapore) Corp.    
Limited -- http://www.caosco.com/-- deals primarily in jet fuel  
procurement, although it is also active in international oil
trading and oil-related investment.  The firm commands a near-
100% market share of the procurement of imported jet fuel for
China's civil aviation industry, and has expanded its market to
include ASEAN countries, the Far East and the United States.
CAO's oil-trading business has expanded beyond jet fuel to
include fuel oil, gasoline, naphtha, crude oil, and
petrochemical products.


CITIRAYA INDUSTRIES: Court Places Unit in Judicial Management
-------------------------------------------------------------
On December 19, 2005, Citiraya Industries Limited's wholly owned
subsidiary, Citiraya (Singapore) Pte Limited, filed a judicial
management petition with the Singapore High Court.

Accordingly, the Court ordered that CSPL be placed under
judicial management, with the consent of all its creditors, who
were present at the hearing.

As a result, Ong Yew Huat and Seshadri Rajagopalan, of Ersnt &
Young, were appointed as judicial managers.


DIGILAND INTERNATIONAL: Posts Sharp Fall in Six-Month Net Loss
--------------------------------------------------------------
Digiland Limited posted a significant 92% drop in its half-year
net loss for 2005.  The Company's net loss for the six months
ended December 31, 3005, amounted to USD1.12 million, as
compared to a USD13.4 loss for the same period in 2004.

A full-text copy of Digiland's half-year FY05 financial results
is available for free at:

  http://bankrupt.com/misc/tcrap_digilandinternational021306.pdf

Digiland International Limited -- http://www.digiland.com.sg/--  
is a major distributor of IT products and provider of IT
services in the Asia-Pacific.  The Digiland International group
of Companies was set up initially as the distribution arm of GES
International Limited to handle sales, marketing and
distribution of GES products, specifically the Datamini brand of
Personal Computer, designed and manufactured by GES
International Limited.  It was renamed Digiland International
Private Ltd in 1998 and has since expanded geographically to
cover most countries in Asia-Pacific.


FHTK HOLDINGS: Second-Quarter Losses Widen Slightly
---------------------------------------------------
FHTK Holdings Limited reports a net loss of SGD5 million for the
second quarter ended December 31, 2005, a 5.6% increase from its
net loss of SGD4.74 million for the same period in 2004.

A full-text copy of FHTK Holdings' second-quarter financial
results is available for free at:

   http://bankrupt.com/misc/tcrap_fhtkholdings021306.pdf

FHTK Holdings Limited - http://www.fhtk.com.sg/-- distributes  
fruits and agricultural products such as apples, banana,
nectarines, pears and peaches through its own SunMoon brand.

The Company's agricultural products division distributes fresh
garlic as well as manufactures dehydrated garlic and onion
products.  The Group currently leases and manages 18 plantations
and totaling 1,630 hectares in the Shandong province in China.  


HESHE HOLDINGS: Files Suit to Regain Control of Chinese Firm
------------------------------------------------------------
In its 2005 annual report, Heshe Holdings Limited has said that
it would take steps to exercise its rights as a shareholder of
Xiamen Xiangyu Presto Trading Limited.

On January 10, 2006, Heshe Holdings filed a claim with the
Intermediate People's Court of Xiamen, People's Republic of
China, against Xiamen Xiangyu and Xiamen Xiangyu shareholder Tan
Sim Chew to enforce the Company's rights as a shareholder.  
Heshe Holdings wants to be given access to the documents and
records of Xiamen Xiangyu and to regain managing control as its
majority shareholder.

As part of China's legal process, Heshe Holdings was given 30
days from the date of filing its claim to provide relevent
evidence and documents supporting such claim.  Heshe Holdings
completed the filing of the necessary documents on February 10,
2006.

Heshe Holdings is not expecting a major financial impact from
the legal suit, as its investment value in Xiamen Xianyu had
been written off in earlier years.

Heshe Holdings Limited started out in 1971 as a retail
partnership selling ready-to-wear shirts.  Its name was changed
to Heshe Holdings Limited in 1975, when it took on the role of
an investment holding company.  Subsequently, the Group expanded
its business to include manufacturing and a distribution network
of retail shops selling its own in-house brands, primarily the
Lea brandname as well as those of local designers and labels.


INFORMATICS HOLDINGS: Cuts Losses in Third Quarter FY06
-------------------------------------------------------
Informatics Holdings Limited has cut its losses for the fourth
successive quarter in its third-quarter financial results for
the 2006.

Savings in staff costs and other operating expenses, which was
due to a group consolidation exercise, led to a SGD7.8 million
net loss -- a 36% decrease from a SGD12.2 million net loss in
the same period last year.  Despite a decline in revenue from
SGD21. 7 million to the current SGD14.5 million, it has
continued to improve in its quarterly performance.

Going forward, Informatics will continue to focus its effort on
growing revenue from both new and existing courses, as well as
in improving financial and operational management control
systems.

Informatics Holdings Limited - http://www.informatics.edu.sg/ -
- was established in 1983, in response to Asia's economic growth  
fostering tremendous demands for skilled Information Technology  
(IT) manpower and knowledge-based workers to build and sustain  
the rapid economic development in the region.  Informatics' core  
business activities are training and education, IT-related  
services and franchise operations.  Today, Informatics Holdings  
Limited has established itself as the global leader in providing  
quality lifelong learning services for individuals and  
corporations.


JMA TECHNOLOGIES: Yinko Management Files Wind-up Petition
---------------------------------------------------------
On January 12, 2006, Yinko Management Pte Limited filed a wind-
up petition against JMA Technologies Pte Limited.

The Singapore High Court will hear the Petition on February 17,
2006, at 10:00 a.m.

Any Company creditor or contributory who wants to support or
oppose the winding up order may appear at the hearing by himself
or his counsel for that purpose.

The Petitioner's solicitors, Dominion LLC, will provide, upon
payment of a regulated charge for the same, a copy of the
winding up petition to any Company creditor or contributory who
requires a copy of the petition.

Any person who intends to appear at the hearing of the petition
must serve on or send by post to solicitors Dominion LLC a
written notice of his intention.  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, firm or his or
their solicitor (if any) and must be served, or, if posted, must
be sent by post to reach the solicitors not later than 12:00
p.m. on February 16, 2006.


MAGNUS ENERGY: Six-Month Net Loss Narrows by 92%
------------------------------------------------
Magnus Energy Limited reports a large 91.8% decrease in its
half-year net loss for 2005.  The Company's net loss for the six
months ended December 31, 3005, amounted to SGD633,000, whereas
it suffered a SGD7.76 million net loss for the same period in
2004.

A full-text copy of Magnus Energy's 2005 half-year financial
results is available for free at:

   http://bankrupt.com/misc/tcrap_magnusenergy021306.pdf

Incorporated in 1983, Magnus Energy Group Limited --
http://www.magnus.com.sg/-- began  as a sub-contractor  
undertaking electrical installations.  In  20 years' time,
Magnus  built an established track record as a provider of
quality and reliable mechanical and electrical engineering
services.  With the stiff operating conditions & cyclical nature
of the construction business, the Company made a strategic
decision in 2003 to shift its business focus, and acquired a
54.35% controlling stake in Mid-Continent Equipment Group Pte
Limited.  This has enabled the group to establish new business
opportunities in the oil and gas as well as alternative energies
industries in new global markets.  The group will continue to
tender selectively for profitable engineering projects, as it
looks to diversify its energy business activities, broaden its
earnings base and at the same time re-engineer itself to explore
new opportunities globally.


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

THAI AIRWAYS: To Hire New Pilots
--------------------------------
Thai Airways International Public Company Limited will begin
pilot recruitment for qualified applicants to become a part of
its team, the Company said in a press release.

Applications for pilots may be submitted within March 1 to May
10, 2006.  The new pilot personnel will help operate Thai
Airways flights, due to increased passenger traffic and flights
on various sectors.

Flg. Off. Apinan Sumanseni, Thai Airways Executive Vice
President for Operations Department, said that since the company
has substantially increased flights on various sectors to meet
the travel needs of more tourists that increase on a gradual
basis, the company, therefore, is recruiting more pilots to work
for Thai Airways.

The recruitment will be grouped in two categories, general
applicants and applicants with pilot's license.

Headquartered in Bangkok, Thailand, Thai Airways International
Public Company Limited -- http://www.thaiairways.com/-- is  
engaged in the operation of domestic and international air
transportation service.  This includes support services such as
freight forwarding, warehousing, on-line ticketing, hotel and
restaurant operations, fuel storage and filling for aircraft at
the airport Air catering and fuel pipeline transportation.  The
Group also provides services in other type of transportation
in connection with the information technology services,
distributes computer services, flight reservation and other
travel-related services.



BOND PRICING: For the Week 13 February to 17 February 2006
----------------------------------------------------------

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


AUSTRALIA
---------
Advantage Group Ltd                  10.000%     4/15/06     1
Ainsworth Game                        8.000%    12/31/09     1
Amcom Telecommunications Ltd         10.000%    10/28/07     2
APN News & Media Ltd                  7.250%    10/31/08     5
A&R Whitcoulls Group                  9.500%    12/15/10     8
Arrow Energy NL                      10.000%     3/31/08     1
Babcock & Brown Pty Ltd               8.500%    12/31/49     8
Becton Property Group                 9.500%     6/30/10     1
BIL Finance Ltd                       8.000%    10/15/07     8
BIL Finance Ltd                       9.250%    10/15/06     9
Capital Properties NZ Ltd             8.500%     4/15/07     8
Capital Properties NZ Ltd             8.500%     4/15/09     8
Capital Properties NZ Ltd             8.000%     4/15/10     8
Cardno Limited                        9.000%     6/30/08     4
CBH Resources                         9.500%    12/16/09     1
Chrome Corporation Ltd               10.000%     2/28/08     1
Clean Seas Tuna Ltd                   9.000%     9/30/08     1
Djerriwarrh Investments Ltd           6.500%     9/30/09     4
EBet Limited                         10.000%    11/29/06    24
Evans & Tate Ltd                      8.250%    10/29/07     1
Fletcher Building Ltd                 7.550%     3/15/11     8
Fletcher Building Ltd                 7.800%     3/15/09     8
Fletcher Building Ltd                 7.900%    10/31/06     9
Fletcher Building Ltd                 8.300%    10/31/06     9
Fletcher Building Ltd                 8.600%     3/15/08     8
Fletcher Building Ltd                 8.750%     3/15/06     8
Fletcher Building Ltd                 8.850%     3/15/10     8
Fernz Corp Ltd                        8.560%    10/15/06     9
Futuris Corporation Ltd               7.000%    12/31/07     2
Gympie Gold Ltd                       8.500%     9/30/07     1
Hy-Fi Securities Ltd                  7.000%     8/15/08     8
Hy-Fi Securities Ltd                  8.750%     8/15/08    10
Hudson Timber Products Ltd            7.000%    12/31/10     1
Hutchison Telecoms Australia          5.500%     7/12/07     1
IMF Australia Ltd                    11.500%     1/30/10     1
Infrastructure & Utilities NZ Ltd     8.500%     9/15/13     8
Infratil Ltd                          8.500%    11/15/15     8
Investa Property Group Ltd            6.000%     5/28/08     6
Kagara Zinc Ltd                       9.750%     5/06/07     3
Kiwi Income Properties Ltd            8.000%     6/30/10     1
Longreach Group Ltd                  10.000%    10/31/08     1
Minerals Corporation Ltd             10.500%     9/30/07     1
Nuplex Industries Ltd                 9.300%     9/15/07     8
Pacific Print Group Ltd              10.250%    10/15/09    10
Primelife Corporation                 9.500%    12/08/06     1
Primelife Corporation                10.000%     1/31/08     1
Salomon SB Australia                  4.250%     2/01/09     8
Sapphire Securities Ltd               7.410%     9/20/35     7
Silver Chef Ltd                      10.000%     8/31/08     1
Software of Excellence                7.000%     8/09/07     1
Sydney Gas Company                   12.000%     4/01/06     1
Sydney Gas Limited                   12.000%     6/01/06     1
Tower Finance Ltd                     8.650%    10/15/09     8
Tower Finance Ltd                     8.750%    10/15/07     8
TrustPower Ltd                        8.300%     9/15/07     8
TrustPower Ltd                        8.300%    12/15/08     8
TrustPower Ltd                        8.500%     9/15/12     8
TrustPower Ltd                        8.500%     3/15/14     8
Vision Systems Ltd                    9.000%    12/15/08     2
Westpac Banking Corporation           6.250%     8/30/11     5

KOREA
-----

Korea Electric Power                  7.950%     4/01/96    55

MALAYSIA
--------

Abi Malaysia Bhd                      5.500%     5/30/06    30
Aliran Ihsan Resources Bhd            5.000%    11/29/11     1
Artwright Holdings Bhd                5.500%     3/06/07     1
Asian Pac Bhd                         4.000%    12/21/07     1
Berjaya Land Bhd                      5.000%    12/30/09     1
Camerlin Group Bhd                    5.500%     7/15/07     2
Comsa Farms Bhd                       5.000%     2/27/06    50
Crescendo Corporation Bhd             3.000%     8/25/07     1
Dataprep Holdings Bhd                 4.000%     8/06/07     1
Eden Enterprises (M) Bhd              2.500%    12/02/07     1
EG Industries Bhd                     5.000%     6/16/10     1
Equine Capital Bhd                    3.000%     8/26/08     1
Fountain View Development Sdn Bhd     3.500%    11/03/06     1
Greatpac Holdings Bhd                 2.000%    12/11/08     1
Gula Perak Bhd                        6.000%     4/23/08     1
Hong Leong Industries Bhd             4.000%     6/28/07     1
Huat Lai Resources Bhd                5.000%     3/28/10     1
I-Berhad                              5.000%     4/30/07     1
Insas Bhd                             8.000%     4/19/09     1
Kamdar Group Bhd                      3.000     11/09/09     1
Killinghall Bhd                       5.000%     4/13/09     2
Kosmo Technology Industrial Bhd       2.000%     6/23/08     3
Kretam Holdings Bhd                   1.000%     8/10/10     1
Kumpulan Jetson                       5.000%    11/27/12     1
LBS Bina Group Bhd                    4.000%    12/29/06     1
LBS Bina Group Bhd                    4.000%    12/31/07     1
LBS Bina Group Bhd                    4.000%    12/31/08     1
LBS Bina Group Bhd                    4.000%    12/31/09     1
Lebar Daun Bhd                        2.000%     1/06/07     3
Lion Diversified Holdings Bhd         2.000%     6/01/09     2
Media Prima Bhd                       2.000%     7/18/08     1
Mithril Bhd                           3.000%     4/05/12     1
Mithril Bhd                           8.000%     4/05/09     1
Mutiara Goodyear Development Bhd      2.500%     1/15/07     1
Naim Indah Corporation Bhd            0.500%     8/24/06     1
Nam Fatt Corporation Bhd              2.000%     6/24/11     1
Orix Leasing Malaysia Bhd             4.052%     1/26/09     4
Pantai Holdings Bhd                   5.000%     7/31/07     2
Patimas Computers Bhd                 6.000%     2/19/06     1
Pelikan International Corp Bhd        3.000%     4/08/10     1
Poh Kong Holdings Bhd                 3.000%     1/20/07     1
Prinsiptek Corporation Bhd            3.000%    11/20/06     1
Puncak Niaga Holdings Bhd             2.500%    11/18/16     1
Ramunia Holdings                      1.000%    12/20/07     1
Rashid Hussain Bhd                    0.500%    12/24/12     1
Rashid Hussain Bhd                    3.000%    12/24/12     1
Rhythm Consolidated Bhd               5.000%    12/17/08     1
Silver Bird Group Bhd                 1.000%     2/15/09     1
Southern Steel                        5.500%     7/31/08     1
Tanah Emas Corporation Bhd            2.000%    12/09/06     1
Tap Resources Bhd                     2.000%     6/29/06     1
Tenaga Nasional Bhd                   3.050%     5/10/09     1
VTI Vintage Bhd                       4.000%     8/22/06     1
WCT Land Bhd                          3.000%     8/02/09     1
Wah Seong Corp                        3.000%     5/21/12     3
YTL Cement Bhd                        4.000%    11/10/15     1


SINGAPORE
---------

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






                            *********


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

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

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