TCRAP_Public/071119.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

           Monday, November 19, 2007, Vol. 10, No. 229

                            Headlines

A U S T R A L I A

ACXIOM CORP: Charles Morgan Quits from Board of Directors
ADVANCED MARKETING: Publishers Group Files Report for May 2007
ADVANCED MARKETING: Publishers Group Files Report for June 2007
ADVANCED MARKETING: Publishers Group Files Report for July 2007
ADVANCED MARKETING: Publishers Group Files Report for Aug. 2007

ADVANCED MARKETING: Publishers Group Files Report for Sept. 2007
BERRYMAN FURNITURE: Joint Meeting Slated for November 23
BREMORE ENGINEERING: Members and Creditors Hear Wind-Up Report
CHRYSLER LLC: Plans to Offer Rebates in December
CONSTELLATION BRANDS: Fortune Deal Cues Fitch to Hold Ratings

FINCORP FINANCIAL: Will Declare Final Dividend on November 21
FINCORP SOUTH: To Declare Final Dividend on November 28
FORD CREDIT: Moody's Changes Rating Outlook to Stable
FORTESCUE METALS: Discovers 1 Billion Ton Iron Ore Deposit
H COOMBE: Members Receive Wind-Up Report

MEGA BRANDS: Moody's May Cut Low-B Ratings After Review
MOBIUS NCM-03: S&P Affirms Low-B Ratings of Class D & E Notes
NEWMONT VIETNAM: Liquidator Gives Report on Wind-up Proceeding
PEABODY ENERGY: Fitch Affirms Issuer Default Rating at BB+
PROTEL COMMUNICATIONS: Members Agree on Voluntary Liquidation

REALOGY CORP: Hires Richard Smith as Chief Executive Officer
SCO GROUP: Earns US$1,608 in Period Ended September 15-30, 2007
SCO GROUP: SCO Operations Posts US$731,158 Net Loss in Sept. 07
SMARTRYD PTY: Members Agree on Voluntary Liquidation Proceedings
SYMBION HEALTH: Answers Primary's Criticisms of Healthscope Bid

WERNER HOLDINGS: Liquidators Present Wind-Up Report
WARATAH CONTRACTING: Members Agree on Voluntary Liquidation


C H I N A   &   H O N G  K O N G

CYBER IMAGING LTD: Commences Liquidation Proceedings
DEGUSSA PACIFIC: Commences Liquidation Proceedings
DISTACOM HONG KONG: Liquidator Quits Post
FERRO CORP: Forms Electronic Packaging Materials Unit
HOTEL TYCOON: Appoints Chan Kin Hang as Liquidator

ISA INTERNATIONAL: Proofs of Debt Due on December 9
MATTEL CHINA: Liquidator Quits Post
REXEL SA: In Exclusive Talks to Buy Hagemeyer for EUR3.1 Billion
REXEL SA: Exclusive Takeover Talks Cue Fitch to Watch BB IDR
SHIMAO PROPERTY: To Spin Off Hotel Business for IPO by 2010

TYSON FOODS: Outlines International Expansion Plans
TYSON FOODS: Earns US$32 Million in Fourth Qtr. Ended Sept. 30


I N D I A

AGILENT TECHNOLOGIES: Inks Merger Agreement with Velocity11
ARTSON ENGINEERING: Posts INR6MM Profit in Qtr. Ended Sept. 30
BUNGE LTD: Closes Cumulative Preference Shares Sale for US$110MM
CABLE & WIRELESS: Loses More Than US$100 Mil. from Cable Theft
GUJARAT SIDHEE: Profit Down 51% in Qtr. Ended Sept. 30, 2007


I N D O N E S I A

ADARO INDONESIA: May Seek US$750-Million Loan to Repay Bonds
CA INC: Signs Strategic Deal with HCL Technologies
COMVERSE TECH: Andre Dahan Assumes CEO Role for Subsidiary
HILTON HOTELS: Inks Management Agreement with Desatur Cariari
PT INCO: Workers Ask for Additional Compensations

PERUSAHAAN LISTRIK: Gov't No Plans for Dividend Increase
PERUSAHAAN LISTRIK: Seeks US$1.5-BB Loan to Meet Energy Need


J A P A N

ATARI INC: Eyes Publishing & Distribution in North America
ATARI INC: Streamlines Operations, Establishes Business Plan
COREL CORP: S&P Revises Outlook; Affirms B Corp. Credit Rating
DELPHI CORP: To Receive Labor Payments from GM Through 2015
FORD MOTOR: Moody's Changes Rating Outlook to Stable

KRATON POLYMERS: Incurs US$754,000 Net Loss in Third Quarter
MEAT HOPE: Ex-President Indicted Over Mislabeling Charges
NOVA CORP: G.communication Opens First School Under Nova Name
SANYO ELECTRIC: To Merge Fuel-Cell Business with Nippon Oil
SENSIENT TECHNOLOGIES: Officer Adopts Rule 10b5-1 Trading Plan

SOFTBANK CORP: To Set Up Joint Venture with Alibaba.com
* Fitch Say Japanese Refineries to be Boosted by Export Growth


K O R E A

CLOROX CO: Board Declares 40 Cents Per Share Quarterly Dividend
EUGENE SCIENCE: Updates Shareholders on Growth Strategy Progress
KENERTEC CO: Wins Exclusive Mining Rights in Cambodia


M A L A Y S I A

SOLUTIA INC: CPFilms Closes US$6.95MM Buy of Acquired Technology


N E W  Z E A L A N D

BELLBIRD INTERNATIONAL: Court to Hear Wind-Up Petition Today
ENERMAX LTD: Subject to Bondor's Wind-Up Petition
HOME IMPROVEMENTS: Creditors' Proofs of Debt Due Today
KEL GEDDES: Taps G. Sargison and G. Rea as Liquidators
LUKE HOLDINGS: Commences Voluntary Liquidation Proceedings

PARKWAY PROPERTIES: Appoints Meltzer and Mason as Liquidators
PAUANUI PROPERTIES: Court to Hear Wind-Up Petition on Nov. 22
PLUS SMS: Unit's Net Loss Down 50% in First Half of 2007
PLUS SMS: CRE8 Forms Alliance With Mobile Gaming Solutions
SEALEGS INTERNATIONAL: Receives Initial Malaysian Gov't Order

SRD CONSULTANTS: Fixes Dec. 5 as Last Day to File Proofs of Debt
SUPREME ACCOMMODATION: Wind-Up Petition Hearing Set for Nov. 26
WOOLTECH INDUSTRIES: Shareholders Decide to Wind Up Operations


P H I L I P P I N E S

MIRANT CORP: Mirant Lovett Files September 2007 Operating Report


S I N G A P O R E

ATOP HOLDINGS: Court to Hear Wind-Up Petition on Nov. 30
FREESCALE SEMI: Joins SPIRIT Consortium Board of Directors
KIM HUAT: Wind-Up Hearing Set for Nov. 23
RED HAT: Teams Up with Platform Computing to Offer HPC Solution
SILKROUTE VENTURES: Sets Dec. 16 Claims Bar Date


T H A I L A N D

ARVINMERITOR INC: Declares US$0.10 Quarterly Dividend
ARVINMERITOR INC: Posts US$62 Million Net Loss in Fourth Quarter

     - - - - - - - -

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

ACXIOM CORP: Charles Morgan Quits from Board of Directors
---------------------------------------------------------
Acxiom(R) Corporation announced that Charles Morgan has retired,
effective immediately, from the board and as company leader.  
Mr. Morgan has entered into a transition agreement with the
company and has agreed to serve as interim company leader until
his successor is selected.  In addition, Mr. Morgan has agreed
to serve as a consultant to the company for up to three years,
focusing on technology and innovation.

The company also announced that its board of directors has
elected Michael J. Durham to serve as the non-executive chairman
of the board of directors.  Mr. Durham has been a member of
Acxiom's board since March 2006.  He formerly served as a
director, president and chief executive officer of Sabre, Inc.

"The Board would like to thank Charles for his many years of
service to the company and its board," Mr. Durham said.  
"Charles has played an important role in the company's growth
and its history as an industry leader for more than three
decades.  Looking forward, our board and company remain
committed to building a profitable, growth-oriented future for
our shareholders, clients and associates.  The board's principal
focus right now is the recruitment of a world-class chief
executive to lead Acxiom."

"Acxiom has been and remains an industry leader in delivering
innovative customer information solutions that help our clients
be more successful," Mr. Morgan said.  "I have enjoyed the
opportunity to lead our company and I am committed to helping
the board and company extend Acxiom's leadership position in the
future."

The company also announced that its board of directors has
nominated Kevin M. Twomey for election to the board.  Mr. Twomey
has served in various senior executive positions, including
president of The St. Joe Company from 1999 until his retirement
in 2006.  Mr. Twomey currently serves as a member of the board
of directors of PartnerRe Ltd. If elected by Acxiom's
shareholders at the annual meeting Dec. 21, 2007, Mr. Twomey
will fill the board seat that has been held by Rodger Kline
since 1975.  Mr. Kline will continue to serve as chief
administrative leader.

"Rodger Kline has made a substantial contribution to the Acxiom
board throughout his 32 years as a director," Mr. Durham said.  
"He has been a dedicated advocate for the company's
shareholders, clients and associates."

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and  
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, Europe, Australia and China.

Acxiom has a team of specialists with sales and business
development associates based in the largest Latin American
markets: Brazil, Argentina and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2007,
Standard & Poor's Ratings Services said its 'BB' corporate
credit rating on Little Rock, Arkansas-based Acxiom Corp.
remains on CreditWatch with negative implications, where it was
placed on May 17, 2007.  At the same time, S&P also placed the
'BB' senior secured debt ratings on CreditWatch with negative
implications, because the debt will no longer be refinanced as
part of the LBO financing.


ADVANCED MARKETING: Publishers Group Files Report for May 2007
--------------------------------------------------------------

                Publishers Group West Incorporated
                     Statement of Cash Flows
                        May 1 to 25, 2007

CASH RECEIPTS
   Accounts Receivable                             US$7,419,793
   Perseus - payments for post-petition returns               -
   Perseus - reimbursement for customer deductions      169,668
   Perseus - Transition service reimb (PGW costs)             -
   Perseus - Transition service reimb (AMS costs)             -
   Perseus - Retention plan reimbursement                     -
   Interest Income                                       29,248
   Other                                                      -
                                                     ----------
Total Cash Receipts                                   7,618,709
                                                     ----------

INVENTORY DISBURSEMENTS
   Publishers - Wires                                         -
   Publishers - Checks                                        -
                                                     ----------
   Total Inventory Disbursements                              -
                                                     ----------

OPERATING DISBURSEMENTS
   Total Payroll (incl. taxes)                          527,035
   Employee retention plan                                    -
   Temp/contract labor                                   64,759
   Health Insurance                                           -
   Insurance                                                  -
   Rent-facilities                                       62,557
   Freight                                              252,232
   Shipping supplies                                          -
   Utilities                                             17,026
   IT Expenses                                           16,077
   Travel                                                67,770
   Professional fees                                          -
   Office equipment & supplies                           38,340
   Communications                                        16,003
   Warehouse equipment                                        -
   Directors' fees                                            -
   Misc                                                 158,930
   Post-petition A/P                                          -
                                                     ----------
   Total Operating Disbursements                      1,220,729
                                                     ----------
Total Disbursements                                   1,220,729
                                                     ----------
Net Operating Cash Inflow                             6,397,980
                                                     ----------

INTERCOMPANY TRANSFERS
   PGW Rcpts. Swept to AMS                                    -
   AMS to/(from) PGW                                          -
   Reimbursement to AMS                                       -
                                                     ----------
Total I/C Transfers                                           -
                                                     ----------
Net Cash Inflow                                    US$6,397,980
                                                     ==========

Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/-- provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of $213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.  
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The Court
confirmed that Plan on Nov. 15, 2007.

(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


ADVANCED MARKETING: Publishers Group Files Report for June 2007
---------------------------------------------------------------

                Publishers Group West Incorporated
                     Statement of Cash Flows
                        June 1 to 29, 2007

CASH RECEIPTS
   Accounts Receivable                             US$9,733,712
   Perseus - payments for post-petition returns               -
   Perseus - reimbursement for customer deductions            -
   Perseus - Transition service reimb (PGW costs)             -
   Perseus - Transition service reimb (AMS costs)             -
   Perseus - Retention plan reimbursement                     -
   Interest Income                                       78,759
   Other                                                    815
                                                     ----------
Total Cash Receipts                                   9,813,286
                                                     ----------

INVENTORY DISBURSEMENTS
   Publishers - Wires                                         -
   Publishers - Checks                                        -
                                                     ----------
   Total Inventory Disbursements                              -
                                                     ----------

OPERATING DISBURSEMENTS
   Total Payroll (incl. taxes)                          481,990
   Employee retention plan                                    -
   Temp/contract labor                                  101,024
   Health Insurance                                           -
   Insurance                                                  -
   Rent-facilities                                       14,928
   Freight                                               85,126
   Shipping supplies                                      3,279
   Utilities                                              2,218
   IT Expenses                                            3,563
   Travel                                                46,453
   Professional fees                                          -
   Office equipment & supplies                            5,551
   Communications                                         6,577
   Warehouse equipment                                        -
   Directors' fees                                            -
   Misc                                                 130,966
   Post-petition A/P                                          -
                                                     ----------
   Total Operating Disbursements                        881,675
                                                     ----------
Total Disbursements                                     881,675
                                                     ----------
Net Operating Cash Inflow                             8,931,611
                                                     ----------

INTERCOMPANY TRANSFERS
   PGW Rcpts. Swept to AMS                                    -
   AMS to/(from) PGW                                          -
   Reimbursement to AMS                                       -
                                                     ----------
Total I/C Transfers                                           -
                                                     ----------
Net Cash Inflow                                    US$8,931,611
                                                     ==========

Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.  
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The Court
confirmed that Plan on Nov. 15, 2007.

(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


ADVANCED MARKETING: Publishers Group Files Report for July 2007
---------------------------------------------------------------

                Publishers Group West Incorporated
                     Statement of Cash Flows
                        July 1 to 27, 2007

CASH RECEIPTS
   Accounts Receivable                               US$491,540
   Perseus - payments for post-petition returns               -
   Perseus - reimbursement for customer deductions            -
   Perseus - Transition service reimb (PGW costs)             -
   Perseus - Transition service reimb (AMS costs)             -
   Perseus - Retention plan reimbursement                     -
   Interest Income                                      104,796
   Other                                                249,473
                                                     ----------
Total Cash Receipts                                     845,809
                                                     ----------

INVENTORY DISBURSEMENTS
   Publishers - Wires                                         -
   Publishers - Checks                                        -
                                                     ----------
   Total Inventory Disbursements                              -
                                                     ----------

OPERATING DISBURSEMENTS
   Total Payroll (incl. taxes)                          990,724
   Employee retention plan                              109,581
   Temp/contract labor                                   48,870
   Health Insurance                                           -
   Insurance                                                  -
   Rent-facilities                                       88,202
   Freight                                              311,349
   Shipping supplies                                          -
   Utilities                                              3,747
   IT Expenses                                            1,012
   Travel                                                49,391
   Professional fees                                          -
   Office equipment & supplies                            5,024
   Communications                                         2,322
   Warehouse equipment                                        -
   Directors' fees                                            -
   Misc                                                  58,763
   Post-petition A/P                                          -
                                                     ----------
   Total Operating Disbursements                      1,668,985
                                                     ----------
Total Disbursements                                   1,668,985
                                                     ----------
Net Operating Cash Inflow                              (823,176)
                                                     ----------

INTERCOMPANY TRANSFERS
   PGW Rcpts. Swept to AMS                                    -
   AMS to/(from) PGW                                          -
   Reimbursement to AMS                                       -
                                                     ----------
Total I/C Transfers                                           -
                                                     ----------
Net Cash Inflow (Outflow)                           (US$823,176)
                                                     ==========

Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.  
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The Court
confirmed that Plan on Nov. 15, 2007.

(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


ADVANCED MARKETING: Publishers Group Files Report for Aug. 2007
---------------------------------------------------------------

                Publishers Group West Incorporated
                     Statement of Cash Flows
                       August 1 to 31, 2007

CASH RECEIPTS
   Accounts Receivable                             US$1,160,116
   Perseus - payments for post-petition returns          17,452
   Perseus - reimbursement for customer deductions            -
   Perseus - Transition service reimb (PGW costs)             -
   Perseus - Transition service reimb (AMS costs)             -
   Perseus - Retention plan reimbursement                     -
   Interest Income                                      223,329
   Other                                                      -
                                                     ----------
Total Cash Receipts                                   1,400,897
                                                     ----------

INVENTORY DISBURSEMENTS
   Publishers - Wires                                         -
   Publishers - Checks                                        -
                                                     ----------
   Total Inventory Disbursements                              -
                                                     ----------

OPERATING DISBURSEMENTS
   Total Payroll (incl. taxes)                          139,454
   Employee retention plan                                    -
   Temp/contract labor                                   66,306
   Health Insurance                                           -
   Insurance                                                  -
   Rent-facilities                                       34,778
   Freight                                              159,081
   Shipping supplies                                          -
   Utilities                                                  -
   IT Expenses                                              460
   Travel                                                28,499
   Professional fees                                          -
   Office equipment & supplies                            9,736
   Communications                                         6,736
   Warehouse equipment                                        -
   Directors' fees                                            -
   Misc                                                 138,928
   Post-petition A/P                                          -
                                                     ----------
   Total Operating Disbursements                        583,978
                                                     ----------
Total Disbursements                                     583,978
                                                     ----------
Net Operating Cash Inflow                               816,919
                                                     ----------

INTERCOMPANY TRANSFERS
   PGW Rcpts. Swept to AMS                                    -
   AMS to/(from) PGW                                          -
   Reimbursement to AMS                                       -
                                                     ----------
Total I/C Transfers                                           -
                                                     ----------
Net Cash Inflow                                         816,919
                                                     ==========

Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.  
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The Court
confirmed that Plan on Nov. 15, 2007.

(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


ADVANCED MARKETING: Publishers Group Files Report for Sept. 2007
----------------------------------------------------------------

                Publishers Group West Incorporated
                     Statement of Cash Flows
                     September 1 to 28, 2007

CASH RECEIPTS
   Accounts Receivable                               US$569,515
   Perseus - payments for post-petition returns               -
   Perseus - reimbursement for customer deductions            -
   Perseus - Transition service reimb (PGW costs)             -
   Perseus - Transition service reimb (AMS costs)             -
   Perseus - Retention plan reimbursement                     -
   Interest Income                                      103,020
   Other                                                 80,200
                                                     ----------
Total Cash Receipts                                     752,735
                                                     ----------

INVENTORY DISBURSEMENTS
   Publishers - Wires                                         -
   Publishers - Checks                                        -
                                                     ----------
   Total Inventory Disbursements                              -
                                                     ----------

OPERATING DISBURSEMENTS
   Total Payroll (incl. taxes)                           83,444
   Employee retention plan                              133,212
   Temp/contract labor                                   85,877
   Health Insurance                                           -
   Insurance                                                  -
   Rent-facilities                                       12,379
   Freight                                               28,454
   Shipping supplies                                          -
   Utilities                                                  -
   IT Expenses                                              469
   Travel                                                 2,792
   Professional fees                                          -
   Office equipment & supplies                            3,923
   Communications                                         4,411
   Warehouse equipment                                        -
   Directors' fees                                            -
   Misc                                                  43,777
   Post-petition A/P                                     11,609
                                                     ----------
   Total Operating Disbursements                        410,347
                                                     ----------
Total Disbursements                                     410,347
                                                     ----------
Net Operating Cash Inflow                               342,388
                                                     ----------

INTERCOMPANY TRANSFERS
   PGW Rcpts. Swept to AMS                                    -
   AMS to/(from) PGW                                          -
   Reimbursement to AMS                                       -
                                                     ----------
Total I/C Transfers                                           -
                                                     ----------
Net Cash Inflow                                      US$342,388
                                                     ==========

Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.  
Publishers Group Inc. disclosed zero assets buUS$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The Court
confirmed that Plan on Nov. 15, 2007.

(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


BERRYMAN FURNITURE: Joint Meeting Slated for November 23
--------------------------------------------------------
Berryman Furniture (Australia) Pty Ltd will hold a joint meeting
for its members and creditors on November 23, 2007, at
10:00 a.m.

At the meeting, the members and creditors will hear the
liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

          Stephen Brennan
          Michael Royal
          SBR Insolvency & Reconstruction
          Level 8, 65 York Street
          Sydney, New South Wales 2000
          Australia

                    About Berryman Furniture

Berryman Furniture (Australia) Pty Ltd is a distributor of  
furniture and fixtures.  The company is located at Warragamba,
in New South Wales, Australia.


BREMORE ENGINEERING: Members and Creditors Hear Wind-Up Report
--------------------------------------------------------------
The members and creditors of Bremore Engineering Pty. Ltd met on
November 6, 2007, and heard the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          M. H. Lyford
          Ogilvie House
          12 Kintail Road, Applecross
          Western Australia 6153
          Australia

                    About Bremore Engineering

Located at Gosnells, in Western Australia, Australia, Bremore
Engineering Pty Ltd is an investor relation company.


CHRYSLER LLC: Plans to Offer Rebates in December
------------------------------------------------
Chrysler LLC may offer a new round of rebates in December 2007,
as it expect a difficult year in sales for 2008, Reuters reports
citing the Wall Street Journal as its source.

According to the report, a campaign kick off is set on Nov. 20,
2007, through its Jeep, Dodge, Chrysler television ads.  The
company will also emphasize the lifetime warranty it began
offering on engines and transmissions early this year.

Discounts will be heavy on Chrysler Pacifica, PT Cruiser
convertible and Crossfire, and the Dodge Magnum, the four slow-
selling models that are being discontinued, Reuters relates.

                   Cost-Reduction Efforts

As reported in the Troubled Company Reporter on Nov. 5, 2007,
Chrysler disclosed that it would make volume-related reductions
at several of its North American assembly and powertrain plants,
and eliminate four products from its line-up.

Shifts will be eliminated at five North American assembly plants
which, combined with other volume-related manufacturing actions,
will lead to a reduction of 8,500-10,000 additional hourly jobs
through 2008.

Additional actions include reductions of salaried employment by
1,000 and supplemental (contract) employment by 37%.  The
Company also plans to eliminate hourly and salaried overtime and
reduce purchased services due to reduction in volume.

The volume-related actions are in addition to 13,000 jobs
eliminated by the three-year Recovery and Transformation Plan
announced in February.  The objectives of the RTP remain the
same.

"We have to move now to adjust the way our company looks and
acts to reflect a smaller market," Tom LaSorda, vice chairman
and president of the Chrysler Group, said.  "That means a cost
base that is right-sized and an appropriate level of plant
utilization."

                      About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products.  The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan and Australia.

                         *     *     *

As reported in the Troubled Company Reporter on Nov. 12, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Chrysler LLC and DaimlerChrysler Financial
Services Americas LLC and removed it from CreditWatch with
positive implications, where it was placed Sept. 26, 2007.  The
outlook is negative.


CONSTELLATION BRANDS: Fortune Deal Cues Fitch to Hold Ratings
-------------------------------------------------------------
Fitch Ratings has affirmed the ratings of Constellation Brands
Inc. following the company's announcement that it had entered
into a definitive agreement to acquire Fortune Brands, Inc.'s  
U.S. wine business for US$885 million.

Fitch has affirmed these ratings:

  -- Issuer Default Rating 'BB-';
  -- Bank credit facility 'BB-';
  -- Senior unsecured notes to 'BB-';
  -- Senior subordinated notes 'B+'.

The Rating Outlook is Negative.

Fitch's ratings apply to STZ's US$3.9 billion credit facilities,
US$1.9 billion of senior unsecured debt, and US$250 million of
senior subordinated notes.

The affirmation reflects the addition of market leading premium
and super premium wines to STZ's already solid position in the
U. S. market and around the world.  STZ maintains leading market
shares in most of the major wine markets around the globe and a
diversified alcoholic beverage portfolio and has an excellent
track record of integrating acquisitions.  The company has
restructured acquired operations to enhance productivity and has
sold non-essential assets, which has provided some proceeds to
reduce debt.  Of concern is STZ willingness to operate at higher
leverage levels and its appetite for acquisitions.  Over the
intermediate term, it is likely that the company will continue
to make acquisitions that may result in financial and
operational stress.

The company's debt levels are expected to be meaningfully higher
at the end of fiscal 2008 (ending Feb. 29, 2008). Leverage has
grown as a result of successive debt financed acquisitions and
stock repurchases, including an accelerated share repurchase
transaction in May 2007.  As a result, interest expense has
increased and coverage measures have weakened considerably over
the past couple of years. As of Aug. 31, 2007, pro forma for the
acquisition of FO's wine business, debt/EBITDA (unadjusted for
acquisition-related integration costs and restructuring and
related charges) would be approaching 6.0 times, while
EBITDA/interest would be slightly above 2.5x.  Nonetheless, the
strong fit of FO's wine brands, the high growth rates for the
super-premium category and some reduction in debt in the near
term are expected to improve these numbers in the short-term.  
Ongoing difficulties in U.K. and Australian operations and a
reduction in U.S. distributor inventory levels, which have
affected cash flow, are also expected to abate in calendar 2008.


FINCORP FINANCIAL: Will Declare Final Dividend on November 21
-------------------------------------------------------------
Fincorp Financial Services Limited, which is in liquidation,
will declare final dividend on November 21, 2007.

Creditors who were not able to file their proofs of debt by the  
November 6 due date will be excluded from the company's dividend
distribution.

The company's liquidator is:

          David Winterbottom
          KordaMentha
          Level 5, Chifley Tower
          2 Chifley Square
          Sydney, New South Wales 2000
          Australia

                    About Fincorp Financial

Fincorp Financial Services Limited provides security and
commodity services.  The company is located at Burwood, in New
South Wales, Australia.


FINCORP SOUTH: To Declare Final Dividend on November 28
-------------------------------------------------------
A final dividend will be declared for the creditors of Fincorp
South Morang Commercial Pty Limited on November 28, 2007.

Creditors who were not able to file their proofs of debt by the
November 6 due date will be excluded from the company's dividend
distribution.

The company's liquidator is:

          David Winterbottom
          KordaMentha
          Level 5, Chifley Tower
          2 Chifley Square
          Sydney, New South Wales 2000
          Australia

                      About Fincorp South

Located at Sydney, in New South Wales, Australia, Fincorp South
Morang Commercial Pty Ltd is an investor relation company.


FORD CREDIT: Moody's Changes Rating Outlook to Stable
-----------------------------------------------------
Moody's Investors Service affirmed the long-term ratings of Ford
Motor Company (B3 Corporate Family Rating, Ba3 senior secured,
Caa1 senior unsecured, and B3 probability of default), but
changed the rating outlook to Stable from Negative and raised
the company's Speculative Grade Liquidity rating to SGL-1 from
SGL-3.  

Moody's also affirmed Ford Motor Credit Company's B1 senior
unsecured rating, and changed the outlook to Stable from
Negative.  These rating actions follow Ford's announcement of
the details of the newly ratified four-year labor agreement with
the UAW.

Bruce Clark, senior vice president with Moody's said, "The key
elements of the Ford labor agreement are similar to those
contained in the contracts recently reached by the UAW with
General Motors and Chrysler.  Over the long term the new
contract will help to significantly reduce Ford's wage and
health care costs."  Clark cautioned, however, that "Despite the
very constructive elements of the agreement, the cash flow
benefits of the new contract will not really take hold until
2010.  As a result we still expect that through 2008, Ford's
operating cash flow will be significantly negative and its
credit metrics will remain weak."  The essential features of the
contract include: the establishment of a UAW-managed VEBA that
will be responsible for retiree health care costs; the
establishment of a two-tiered wage structure; and tighter
restrictions on eligibility for JOBs bank benefits

The improvement in Ford's outlook to stable reflects the longer-
term benefits of the UAW agreements and the company's
significant liquidity position, balanced against a very
challenging operating environment and the sizable negative cash
flow the company will generate through 2009.

Moody's revision of Ford Credit's outlook to stable considers
the ownership and business connections between Ford and Ford
Credit that link the ratings of the two firms.  Ford's improved
outlook suggests that it may be less likely to pursue actions
and strategies that would have adverse consequences for Ford
Credit's credit profile.  Pressures on Ford Credit's stand-alone
characteristics, such as its liquidity, asset quality and
profitability, may also be eventually eased by Ford's improved
operating prospects.  However, Ford Credit is likely to continue
to face near-term challenges to its profitability resulting from
higher trending borrowing, credit, and depreciation costs.  Ford
Credit's rating is positioned two-notches higher than Ford's,
reflecting Moody's view that holders of Ford Credit's debt would
experience lower loss severity in default than would the
creditors of Ford.

Until 2010, when Ford can begin to harvest some of the new
contract's cost savings, the company will have to contend with a
number of significant challenges that will result in
considerable negative cash flow from operations.  The rate of
operating cash consumption will be considerable during 2008 but
will likely narrow during 2009.  The near term challenges
confronting Ford include: a cost structure that, although
improving, is still uncompetitive with that of Asian rivals, the
need to fund employee buy-outs associated with the new UAW
contract, and the reluctance on the part of consumers to pay as
much for certain Ford vehicles as for vehicles produced by
competitors -- despite Ford's steadily improving quality
measures.  Ford will also have to contend with the possibility
that broader economic and market conditions could become more
difficult in the US.  There is an increasing risk that US
automotive shipments fall below 16 million units during 2008;
this compares with shipments of about 16.5 million in 2007, and
17 million in 2006.  In addition, high oil prices could
accelerate the shift in consumer preference away from trucks and
SUVs toward cars and more fuel efficient vehicles.  These trends
could have a negative impact on the late-2008 introduction of
Ford's most profitable and most strategically important vehicle
-- the F-150 light truck.

An important mitigant to these near-term challenges is Ford's
strong liquidity position that will include approximately US$30
billion in cash and securities following the funding of the UAW-
managed VEBA, and US$11 billion in available credit facilities
that are committed through 2011.  Moody's notes that the degree
of benefit provided by this credit facility to Ford's overall
liquidity position may be moderated by the company's ability to
designate Ford Credit as a borrower.  Nevertheless, Ford has
considerable capacity to cover all expected cash requirements
during the next 12 to 24 months.  This very ample liquidity
profile supports the company's SGL-1 Speculative Grade Liquidity
rating.

During 2008, Ford will continue to focus on reducing material
costs, gaining market acceptance for new vehicles, stabilizing
its retail share position, and improving the pricing power and
profitability of it car and cross over vehicle portfolio.  The
company will also look to take full advantage of the cost
reduction opportunities within the UAW agreement.  Ford's rating
outlook could improve if progress in these areas indicates that
the company is on track to generate positive free cash flow,
sustain interest coverage exceeding 1x, and achieve EBITA
margins approximating 2.5% during the 2009 time frame.

Ford Motor Company, a leading global automotive manufacturer, is
headquartered in Dearborn, Michigan.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.


FORTESCUE METALS: Discovers 1 Billion Ton Iron Ore Deposit
----------------------------------------------------------
Fortescue Metals Group Ltd. announced an estimate of Inferred
Resources of iron ore totalling in excess of 1 billion tonnes
(Bt) for the Serenity area comprising the western one-third of
its Solomon Project area.

A total of 1.014 Bt averaging 56% Fe has been defined as an
Inferred Resource in accordance with the JORC Code.  Within this
deposit Fortescue has defined 337 million tonnes (Mt) of channel
iron deposit averaging 56.7% Fe.

Fortescue is continuing to drill equally propsective targets in
the eastern portion of the Solomon Project area and expects to
announce additional resources in that area before Christmas.  
Serenity is located about 60 kilometers north-northwest of Tom
Price in the Pilbara region of Western Australia.

This discovery is a result of a drilling programme by Fortescue
aimed at providing sufficient resource with its Chichester
deposits to support its planned production expansion to 200
million tonnes per annum (mtpa).  This initial mineralization
comes from the Serenity area which represents one third of its
total tenements in the Solomon area.

Metallurgical test work has commenced and preliminary results
suggest that mineralization is responding positively but
further work is required to determining detailed process flow
sheets, expected recoveries and product characteristics.  This
work is ongoing.

You will be able to view a estimated table of the Inferred
Resource in the company's Web site:

     http://www.fmgl.com.au/IRM/content/invest_asx.htm

The estimate is based upon the results of 439 RC drill holes
totalling 10312 meters and using a bulk in-situ density of 2.6.  
All holes were sampled in one meter intervals and analyzed by
SGS Laboratories and Ultra Trace in Perth, Western Australia
using XRF techniques.  Estimation was carried out by using
ordinary kriging for all of the mineralized domaines and inverse
distance for waste.  Fortescue Metals Group is satisfied that
the requirements laid down under the JORC cod have been
fulfilled, including internal QA/QC work to deliver this
Inferred Resource Estimation to the Australian Stock
Exchange.

In line with this, John Winters of Egoli reports that
Fortescue's shares soared 26% after the company announced the
new discovery.

                    About Fortescue Metals

Headquartered in West Perth, Western Australia, Fortescue Metals
Group Limited -- http://fmgl.com.au/-- is involved in the     
exploration of iron ore through a project to mine iron ore in
the Chichester Ranges, in the Pilbara region of Western
Australia and exporting it from Port Hedland.

                         *     *     *

Fortescue reported a net loss for the past two fiscal years.  
Net loss for the year ended June 30, 2005, was AU$4.52 million
and net loss for the year ended June 30, 2006, was
AU$2.15 million.


H COOMBE: Members Receive Wind-Up Report
----------------------------------------
On November 16, 2007, the members of H Coombe Proprietary
Limited had a meeting and received the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

          S. W. Vine
          Ground Floor
          200 East Terrace
          Adelaide, South Australia 5000
          Australia

                        About H Coombe

Located at Croydon, in South Australia, Australia, H Coombe
Proprietary Limited is an investor relation company.


MEGA BRANDS: Moody's May Cut Low-B Ratings After Review
-------------------------------------------------------
Moody's Investors Service placed the B1 corporate family rating
and other long term ratings of MEGA Brands, Inc. on review for
possible downgrade after the company announced weaker than
expected results for the third quarter of 2007 and for year-to-
date.  The LGD rates are also subject to change.  The
speculative grade liquidity rating was affirmed at SGL-3.

These ratings were placed on review for possible downgrade:

   * MEGA Brands, Inc.

   -- Corporate Family Rating of B1:

   -- Probability of Default of B2;

   -- US$120 million 5-year revolving credit facility maturing
      July 2010 of Ba3;

   -- US$40 million, 5-year term loan A facility of Ba3.

   * MEGA Brands Finco

   -- US$260 million 7-year term loan B facility of Ba3.

The rating was last lowered in July 2007 due to poor results in
2006 and in early 2007.  The new review is prompted by the fact
that expectations of improvements in the latter half of 2007
have not materialized.  Third quarter sales were down 8.8%
versus the prior year mainly due to production delays in Asia
and lower shipments of Magnetix products, and Gross Profit
plummeted more than 60% due in part to inventory write-offs and
adjustments.  Mega reported an operating loss for the quarter of
US$5.1 million versus a profit of US$26.4 million a year
earlier.  Moody's review will focus on the likelihood of a
return to sustainable profitability in the near term.  It will
also revisit the current status of pending litigation, the
issues around the company's self insurance for product liability
for Magnetix products manufactured before May 1, 2006 and for
incidents occurring after Dec. 1, 2006, and the likely timing
and payout of the disputed Rose Art earn-out payment.

The SGL-3 was affirmed based on Moody's continued expectation
for adequate near-term liquidity for the company.  Absent the
Rose Art earn-out payment, which the company does not expect to
make before 2009, MEGA Brands' liquidity is supported by balance
sheet cash and availability under its $120 million revolver,
offset by the seasonal nature of its cash flow which requires
reliance on its bank facility, the potential for limited
covenant cushion under its credit agreement over the medium
term, and its limited alternative sources of liquidity.

Based in Montreal, Canada, MEGA Brands Inc. --
http://www.megabrands.com/ -- (TSE:MB) is a distributor of   
construction toys, games & puzzles, arts & crafts and
stationery.  The company is headquartered in Montreal,
Canada and has offices in Belgium, United Kingdom, Germany,
France, Spain, Mexico, and Australia.  The company had sales of
over US$547 million in 2006.


MOBIUS NCM-03: S&P Affirms Low-B Ratings of Class D & E Notes
-------------------------------------------------------------

Standard & Poor's Ratings Services affirmed the ratings assigned
to the Class D and Class E notes issued by Mobius NCM-03 Trust
and removed them from CreditWatch with negative implications
where they were placed on Aug. 6, 2007.  The affirmation follows
the continuation of a build-up of support to cover potential
future losses.

"The number of loans in arrears continues to be a concern," said
Standard & Poor's credit analyst Belinda Smith.  "However, the
increased loss expectations are more than offset by the
significant amount of excess spread available.  This excess
spread is sufficient to cover the losses that are currently
flowing through.  It will also allow for the accumulation of a
sizeable loss reserve to cover potential future losses."

Ratings Affirmed and Removed From CreditWatch Negative

                     Class    Rating To    Rating From
Mobius NCM-03 Trust    D        BB           BB/Watch Neg
Mobius NCM-03 Trust    E        B            B/Watch Neg


Ratings Affirmed      Class    Rating  
                      
Mobius NCM-03 Trust    A1       AAA
Mobius NCM-03 Trust    A2       AAA
Mobius NCM-03 Trust    Z        AAA
Mobius NCM-03 Trust    B        A
Mobius NCM-03 Trust    C        BBB


NEWMONT VIETNAM: Liquidator Gives Report on Wind-up Proceeding
--------------------------------------------------------------
The members of Newmont Vietnam Pty Ltd met on November 16, 2007,
and heard the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Thea Eszenyi
          McGrathNicol
          Level 13, 99 Gawler Place
          Adelaide, South Australia 5000
          Australia
          Telephone:+61 8 8468 3700
          Web site: http://www.mcgrathnicol.com

                    About Newmont Vietnam

Newmont Vietnam Pty Ltd provides metal mining services.  The
company is located at Adelaide, in South Australia, Australia.


PEABODY ENERGY: Fitch Affirms Issuer Default Rating at BB+
----------------------------------------------------------
Fitch has affirmed these ratings for Peabody Energy
Corporation's:

-- Issuer Default Rating at 'BB+';

-- Senior unsecured notes at 'BB+';

-- Senior unsecured revolving credit and term loan at 'BB+';

-- Convertible junior subordinated debentures due 2066 at
    'BB-'.

The Outlook is Stable.

The ratings reflect Peabody's large, well-diversified
operations, good control of low cost production, strong
liquidity and moderate leverage.  In particular, Peabody ranks
first in the Wyoming Powder River Basin with 2006 sales of 138
million tons and reserves of 3.3 billion tons and first in the
Midwest with 2006 sales of 39 million tons and reserves of 4.1
billion tons.

On Oct. 31, 2007, Peabody completed the spin-off of Patriot Coal
Corporation to shareholders. Patriot has coal assets and
operations in West Virginia and Kentucky.  While the transaction
will increase Peabody's financial leverage slightly, it will
decrease the company's legacy liabilities by roughly US$1
billion and reducing related annual expenditures by about US$100
million.

Liquidity at quarter end was strong with cash on hand of
US$216.3 million (US$159.7 million pro forma for the Patriot
spin-off) and availability under its revolver of
US$1.35 billion.  Total Debt with Equity Credit/EBITDA for the
latest 12 months ended Sept. 30, 2007 was 3.5 times.  Pro forma
for the Patriot spin-off, leverage on the same measure would
have been 3.6.  Peabody has substantial legacy liabilities and
adjusted leverage remains over 4.0 post the Patriot spin-off.

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
(NYSE: BTU) -- http://www.peabodyenergy.com/-- is the world's  
largest private-sector coal company, with 2005 sales of 240
million tons of coal and US$4.6 billion in revenues.  Its coal
products fuel 10% of all U.S. and 3% of worldwide electricity.  
The company has coal operations in Australia and Venezuela.


PROTEL COMMUNICATIONS: Members Agree on Voluntary Liquidation
-------------------------------------------------------------
During a general meeting held on September 20, 2007, the members
of Protel Communications International Pty Ltd agreed to
voluntarily liquidate the company's business.

The company's liquidators are:

          Brentnalls SA
          Chartered Accountants
          255 Port Road
          Hindmarsh, South Australia 5007
          Australia

                 About Protel Communications

Protel Communications International Pty Ltd provides
communications services.  The company is located at Doonan, in
Queensland, Australia.


REALOGY CORP: Hires Richard Smith as Chief Executive Officer
------------------------------------------------------------
Realogy Corporation has appointed Richard A. Smith, as its chief
executive officer, succeeding Henry R. Silverman in accordance
with the Company's previously announced succession plan.  
Mr. Smith will now serve as Realogy's president and CEO.

Mr. Silverman will become the non-executive chairman of
Realogy's board of directors.  The leadership transition will
take effect immediately.

Headquartered in Parsippany, New Jersey, Realogy Corporation
(NYSE: H)-- http://www.realogy.com/-- is real estate franchisor  
and a member of the S&P 500.  The company has a diversified
business model that also includes real estate brokerage,
relocation, and title services.  Realogy's world-renowned brands
and business units include CENTURY 21(R), Coldwell Banker(R),
Coldwell Banker Commercial(R), ERA(R), Sotheby's International
Realty(R), NRT Incorporated, Cartus, and Title Resource Group.
Realogy has more than 15,000 employees worldwide.  The company
operates in Australia, Brazil and France.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 6, 2007, Standard & Poor's Ratings Services has lowered its
ratings on Realogy Corp.; the corporate credit rating was
lowered to 'B' from 'B+'.  S&P said the rating outlook is
stable.


SCO GROUP: Earns US$1,608 in Period Ended September 15-30, 2007
---------------------------------------------------------------
The SCO Group Inc. reported zero revenues and zero expenses for
the period beginning September 15 through 30, 2007.  However,
the company generated other income from China Investment of
US$1,608 for the period ending Sept. 30, 2007.  The company's
net profit for the month of September 2007 was US$1,608.

As of Sept. 30, 2007, the company's balance sheet showed total
US$1,327,901, total liabilities of US$1,745,258, and total
stockholders' deficit of US$417,357.

operating report is available for free at:
A full-text copy of the company's September 15 through 30, 2007

               http://ResearchArchives.com/t/s?256e

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--  
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq. and Arthur J.
Spector, Esq. at Berger Singerman PA and Laura Davis Jones, Esq.
at Pachulski Stang  Ziehl & Jones LLP are co-counsels to the
Debtors.  Epiq Bankruptcy Solutions, LLC, acts as the Debtors'
claims and noticing agent.  The United States Trustee failed to
form an Official Committee of Unsecured Creditors in these cases
due to insufficient response from creditors.  The Debtors'
exclusive period to file a chapter 11 plan expires on March 12,
2008.  The Debtors' schedules of assets and liabilities showed
total assets of US$9,549,519 and total liabilities of
US$3,018,489.


SCO GROUP: SCO Operations Posts US$731,158 Net Loss in Sept. 07
---------------------------------------------------------------
The SCO Operations Inc. had gross revenues of US$610,605 and
gross profit of US$595,807 for the period beginning September 15
through 30, 2007.  Net loss for the month of September 2007 was
US$731,158.

As of Sept. 30, 2007, SCO Operations' balance sheet showed total
assets of US$15,733,879, total liabilities of US$9,517,924, and
total stockholders' equity of US$6,215,955.

A full-text copy of SCO Operations' September 15 through 30,
2007 operating report is available for free at:

              http://ResearchArchives.com/t/s?256f

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--  
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq. and Arthur J.
Spector, Esq. at Berger Singerman PA and Laura Davis Jones, Esq.
at Pachulski Stang  Ziehl & Jones LLP are co-counsels to the
Debtors.  Epiq Bankruptcy Solutions, LLC, acts as the Debtors'
claims and noticing agent.  The United States Trustee failed to
form an Official Committee of Unsecured Creditors in these cases
due to insufficient response from creditors.  The Debtors'
exclusive period to file a chapter 11 plan expires on March 12,
2008.  The Debtors' schedules of assets and liabilities showed
total assets of US$9,549,519 and total liabilities of
US$3,018,489.


SMARTRYD PTY: Members Agree on Voluntary Liquidation Proceedings
----------------------------------------------------------------
On October 10, 2007, the members of Smartryd Pty Limited met and  
resolved to voluntarily wind up the company's operations.

Simon M. Dorahy of Elliott House was appointed as liquidator.

The Liquidator can be reached at:

          Simon M. Dorahy
          Elliott House Partners
          6 Elliott Street
          North Sydney, New South Wales 2060
          Australia

                      About Smartryd Pty

Smartryd Pty Limited provides repair services.  The company is
located at Rydalmere, in New South Wales, Australia.


SYMBION HEALTH: Answers Primary's Criticisms of Healthscope Bid
---------------------------------------------------------------
Symbion Health Ltd. clarified some aspects of its agreed
AU$2.65-billion merger deal with Healthscope Ltd. in a bid
to allay concerns raised by the rival suitor, Primary
Health Care, Nabila Ahmed of The Age reports.

The report states that Primary, after its takeover offer for
Symbion was rejected, is challenging the legality of Symbion's
agreement with Healthscope, including the lock-up arrangement
between the companies.

Primary, according to The Age, alleged that Symbion misled
shareholders about the value of Healthscope's bid by
burying an independent expert's assessment deep in its
explanatory memorandum to investors.

Primary, over a legal proceeding commenced with the Federal
Court, criticized Symbion's decision to recommend the
Healthscope offer to shareholders based on an implied value of
between AU$4.23 and AU$4.43 a share, relates Mr. Ahmed.

However, in a letter to shareholders, Symbion Chairman Paul
McClintock tackled Primary's criticisms, accusing Symbion's
biggest shareholder of trying to derail its deal with
Healthscope.

The report conveys that Mr. McClintock told shareholders
that Symbion rejected all of Primary's claims, reiterating
that Symbion sought confirmation from the independent
expert that it continued to view the Healthscope deal as
"fair and reasonable."  The independent expert valued
Healthscope's offer for Symbion's diagnostic assets at
between AU$3.54 and AU$4.45 a share.

Symbion, adds The Age, also asked the expert to update the
opinion about the sale of its consumer and pharmacy businesses
to private equity players Ironbridge and Archer Capital.

              Primary's Allegations are Baseless

Primary also sought to challenge the lock-up arrangements and
break fee of AU$19.5 million entered into by Symbion and
Healthscope, Teresa Ooi writes for The Australian.

The Australian states that Primary, represented in its legal
case by Allan Myers QC, also disputed that an ordinary
resolution of Symbion shareholders was sufficient to approve the
proposed capital reduction related to Healthscope's revised cash
and scrip takeover offer.

Symbion managing director Robert Cooke, who was not at the
hearing, remains confident that they have a good hearing
and a strong case, claiming that Primary's case against
Symbion was baseless, relates The Australian.

Ms. Ooi quotes Mr. Cooke as saying, "We will fight this
case and any other disruptive tactics by Primary that did
not deliver any shareholder value."

The Australian says that a decision from Justice Kevin
Lindgren will be expected this week.

The Troubled Company Reporter-Asia Pacific reported on
November 13, 2007 that Symbion's board unanimously rejected
Primary's AU$2.65 billion offer expressing that the offer price
does not adequately compensate Symbion's shareholders for
the strategic value of Symbion Health to Primary and the
very significant synergies and operational improvements
which Primary expects to realize.

                    About Symbion Health

Melbourne-based Symbion Health Limited --
http://www.symbionhealth.com/--formerly Mayne Group Limited,     
provides health products and services. The principal activities
of Symbion Health, during the fiscal year ended June 30, 2006,
consisted of diagnostic and wellness products and services
through its Pathology, Imaging, Medical Centers, Pharmacy
Services and Consumer divisions.  Pathology owns and
operates private pathology practices, providing pathology
services to healthcare professionals and their patients. Symbion
Medical Centers provides local communities with healthcare and
family medicine.  Imaging provides imaging services to
patients on the eastern seaboard of Australia.  Pharmacy
Services supplies a line of pharmaceuticals and associated
products to pharmacies.  Consumer manufactures and
markets nutraceuticals (vitamins and mineral supplements).

On Jan. 30, 2007, Moody's Investors Service placed the Ba1
issuer rating of Symbion Health Limited on review for possible
downgrade after the company's announcement that it has received
an ownership proposal from Primary Health Care Limited
(unrated).


WERNER HOLDINGS: Liquidators Present Wind-Up Report
---------------------------------------------------
The members of Werner Holdings Pty Ltd met on November 16, 2007,
and agreed to voluntarily liquidate the company's business.

At the meeting, Gary Wayne Packer and Steven Brett Inglis, the
company's liquidators, presented a report on the company's wind-
up proceedings and property disposal.

The Liquidators can be reached at:

          Gary Wayne Packer
          Steven Brett Inglis
          GPA Accounting Pty Ltd
          9 Riverview Drive
          Berri, South Australia 5343
          Australia

                      About Werner Holdings

Located at Berri, in South Australia, Australia, Werner Holdings
Pty Ltd is an investor relation company.


WARATAH CONTRACTING: Members Agree on Voluntary Liquidation
-----------------------------------------------------------
During a general meeting held on October 5, 2007, the members of  
Waratah Contracting Pty Ltd agreed to voluntarily liquidate the
company's business.

K. E. Judge was appointed as liquidator.

          K. E. Judge
          Judge Constable Chartered Accountants
          Burswood Chamber
          67 Burswood Road
          Burswood, Western Australia 6100
          Australia
          Telephone:(08) 9470 4100

                    About Waratah Contracting

Waratah Contracting Pty Ltd is a general contractor of
residential buildings.  The company is located at Beckenham, in
Western Australia, Australia.


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

CYBER IMAGING LTD: Commences Liquidation Proceedings
----------------------------------------------------
Cyber Imaging Limited commenced liquidation proceedings on
November 2, 2007.

The company's liquidator is:

          Chau Cham Kuen
          Room 1005, 10th Floor
          Far East Finance Center
          16 Hancourt Road, Hong Kong


DEGUSSA PACIFIC: Commences Liquidation Proceedings
--------------------------------------------------
Degussa Pacific Limited commenced liquidation proceedings on
October 26, 2007.

The company's liquidator is:

          Natalia K M Seng
          Level 28, Three Pacific
          1 Queen's Road East,
          Hong Kong


DISTACOM HONG KONG: Liquidator Quits Post
-----------------------------------------
On October 29, 2007, Phillip Brendan Gilliggan stepped down as
liquidator for Distacom Hong Kong Limited, which is undergoing  
liquidation.


FERRO CORP: Forms Electronic Packaging Materials Unit
-----------------------------------------------------
Ferro Corporation’s Electronic Material Systems has combined
several sub-business units into the newly formed Electronic
Packaging Materials unit.  The new EPM unit was formed to make
it easier for customers to buy both performance-enhancing
engineered formulations and cost-effective materials used to
produce hybrid circuits, microelectronics, advanced packaging,
and devices.

“We've combined several product-focused businesses to provide a
full range of options to meet all of our electronics packaging
customers’ needs with a single point of contact,” said Jeffrey
Edel, Business Director/General Manager, Ferro Electronic
Material Systems.  “EPM's focused approach simplifies providing
what customers need to gain an advantage, regardless of the
product type.”

Ferro has a long track record of providing market-leading
systems of matched engineered materials, as well as applied
technology expertise to help integrate products into customers’
manufacturing processes.  These products are often customized
for specific applications.  In addition, many customers make
their own formulations in-house, or use certain Ferro materials
for particular functions.  EPM was created to serve the full
range of these customer needs.

Engineered formulation product lines improve product performance
and/or production efficiency in specific customer applications.  
These product lines include thick film conductive pastes and
matched material systems comprised of resistor pastes,
dielectrics, and overglazes for hybrid IC and metal core
substrate applications, as well as high-performance, low
temperature ceramic co-fired (LTCC) tape with a gold-based
matched materials system.

Ferro’s cost-effective discrete materials provide building
blocks for customers’ electronic materials formulations. EPM
offers electronic and technical glasses, and LTCC formulated
powders.  Ferro also manufactures binders and metal powders, as
well as custom and proprietary electronic materials.

                   About Ferro Electronic

Ferro Electronic Material Systems has locations in Vista, CA;
Penn Yan, NY; South Plainfield, NJ; Haverhill, United Kingdom;
Uden, The Netherlands; Hanau, Germany; Tsukuba, Japan; and
Suzhou, China.  Its products include advanced packaging and
thick film conductors; metal pastes and powders for solar energy
applications; chemical mechanical planarization (CMP) slurries
for semiconductors and advanced integrated circuits; dielectrics
used in chip components and multilayer ceramic capacitors
(MLCC); and surface finishing materials for LCD, hard disk, and
ophthalmic polishing.

                      About Ferro Corp.

Headquartered in Cleveland, Ohio, Ferro Corporation (NYSE: FOE)
-- http://www.ferro.com/-- is a global producer of an array of  
specialty chemicals including coatings, enamels, pigments,
plastic compounds, and specialty chemicals for use in industries
ranging from construction, pharmaceuticals and
telecommunications.  Ferro operates through the following five
primary business segments: Performance Coatings, Electronic
Materials, Color and Performance Glass Materials, Polymer
Additives, and Specialty Plastics.  Revenues were USUS$2 billion
for the FYE ended Dec. 31, 2006.

Ferro Corp. has global locations in Argentina, Australia,
Belgium, Brazil, China, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 16, 2007, Moody's Investors Service assigned a B1 corporate
family rating to Ferro Corporation.  Moody's also assigned a B1
rating to the company's USUS$200 million senior secured notes
(issued as unsecured notes in 2001) due in January 2009 and an
SGL-3 speculative grade liquidity rating.


HOTEL TYCOON: Appoints Chan Kin Hang as Liquidator
--------------------------------------------------
The members of Hotel Tycoon Travel Limited, on October 20, 2007,
appointed Chan King Hang Danvil as the company's liquidator.

The Liquidator can be reached at:

          Room 2301, 23 Floor
          Ginza Square, 565-567 Nathan Road
          Yaumatei, Kowloon, Hong Kong


ISA INTERNATIONAL: Proofs of Debt Due on December 9
---------------------------------------------------
The creditors of Isa (International Shoe Agencies) Limited are
required to file their proofs of debt by December 9, 2007, to be
included in the company's dividend and distribution.

The company commenced liquidation proceedings on October  29,
2007.

The company's liquidator is:

          Yeung Hoi Commercial
          Chun Hoi Commercial Building
          688-690 Shanghai Street
          Mongkok, Kowloon
          Hongkong


MATTEL CHINA: Liquidator Quits Post
-----------------------------------
On October 29, 2007, Phillip Brendan Gilliggan stepped down as
liquidator for Mattel China Properties Limited, which is
undergoing liquidation.


REXEL SA: In Exclusive Talks to Buy Hagemeyer for EUR3.1 Billion
----------------------------------------------------------------
Hagemeyer and Rexel SA have agreed to exclusive negotiations
aimed at finalizing an agreement under which Rexel would make an
all cash offer of EUR4.85 per Hagemeyer share, approximately
EUR3.1 billion in total (US$4.5 billion), and Hagemeyer's
Management and Supervisory Boards would recommend this revised
proposed offer.

According to a report carried by Modern Distribution Management,
the offer is up from Rexel's original EUR4.60 per share bid,
which had valued the company at US$4.3 billion.

As part of the envisaged transaction Rexel has entered into an
agreement with Sonepar to sell certain activities of Hagemeyer
to Sonepar, following successful completion of the proposed
offer.

Rexel's revised proposed offer is subject to certain pre-
conditions, including high level due diligence and finalization
of a merger protocol.  Due diligence was expected to commence on
Nov. 14, 2007.

If the proposed offer is made, Sonepar will tender its 10.49%
shareholding in Hagemeyer at the same terms and conditions as
applicable to all shareholders.

Further announcements will be made in due course, the companies
said in a joint statement.

Headquartered in Paris, France, Rexel SA --
http://www.rexel.com/-- distributes more than one million kinds   
of electrical parts and supplies, including wiring devices,
cabling systems, circuit protectors, lighting products,
automation equipment, hand tools, climate control equipment, and
electronic security components.  For the twelve months ended
Dec. 31, 2006, Rexel reported total sales and EBITDA of EUR9,299
million and EUR637 million, respectively.

Rexel has operations in China.


REXEL SA: Exclusive Takeover Talks Cue Fitch to Watch BB IDR
------------------------------------------------------------
Fitch Ratings has placed Rexel SA's Long-term Issuer Default
rating of 'BB' and senior secured ratings of 'BB+' on Rating
Watch Negative.

This rating action follows the joint announcement by Rexel,
Hagemeyer and Sonepar that they will be entering exclusive
negotiations for the finalization of a recommended offer for
Hagemeyer by Rexel of EUR4.85 per share and confirmation of
Hagemeyer's Management and Supervisory Boards supporting this
offer.  This follows Rexel's previous proposed offer of EUR4.60
per share on Oct. 25, 2007.  As part of the agreement, Rexel
would sell Hagemeyer's America, Asia-Pacific and certain
European activities to French competitor, Sonepar.

"The increased offer for Hagemeyer reflects Rexel's willingness
to act as a consolidator in its core European region, offsetting
to some extent the current downturn in the US residential
construction market," says Pablo Mazzini, Director in Fitch's
Leveraged Finance team.

However, as anticipated in Fitch's earlier commentary, the
agency expects a higher financial risk profile derived from this
fully debt-funded acquisition, if it proceeds, for at least the
next two years until full cost savings derived from the combined
group start to materialize.

Pro forma for the Hagemeyer acquisition, Rexel's revenue would
increase by EUR3.6 billion, although net lease-adjusted leverage
could increase to above 5.5x and net lease adjusted interest
cover would be below 2.5x, which is more consistent with the low
'BB' range, possibly high 'B' range.

The resolution of the RWN will be at completion of the deal,
following Rexel's due diligence process, finalization of a
merger protocol and customary regulatory approval.

Headquartered in Paris, France, Rexel SA --
http://www.rexel.com/-- distributes more than one million kinds   
of electrical parts and supplies, including wiring devices,
cabling systems, circuit protectors, lighting products,
automation equipment, hand tools, climate control equipment, and
electronic security components.  For the twelve months ended
Dec. 31, 2006, Rexel reported total sales and EBITDA of EUR9,299
million and EUR637 million, respectively.

Rexel has operations in China.


SHIMAO PROPERTY: To Spin Off Hotel Business for IPO by 2010
-----------------------------------------------------------
Shimao Property Holdings Limited plans to spin off its hotel
business and list it separately in Hong Kong by 2010, Yahoo!
News reports, citing the Shimao Group's chairman, Xu Rongmao.

Shanghai Daily notes that Mr. Xu said Shimao will also increase
its five-star hotel portfolio in China from three to about 20
within three years.  Shimao Property allots at least
CNY5 billion (US$673 million) for this.

"This is a very promising business in China, with revenue coming
not only from rents, but also from asset appreciation," Yahoo!
quotes Mr. Xu as saying.  "We expect to see explosive profit
growth in this sector in the next one or two years," he adds.

Moreover, Shanghai Daily recounts, Shimao Property said in an
Oct. 23 statement to the Hong Kong Stock Exchange that it plans
to inject 100% interest in nine commercial property project
companies, as well as Beijing Shimao Tower and approximately
CNY750 million cash into Shanghai Shimao Co Ltd, in exchange for
shares.  The restructuring, still waiting approval from both
companies and regulatory authorities, will enable Shimao
Property to indirectly own a 64% stake in Shanghai Shimao.

Mr. Xu told the media that they expect the transaction to be
completed early next year, potentially making Shanghai Shimao as
China's biggest listed commercial property developer.  The deal
would also give Shimao Property an alternative funding channel
through Shanghai Shimao's access to the mainland equity and debt
markets, Yahoo! relates, citing Standard & Poor's Ratings
Services.

Mr. Xu, according to Shanghai Daily, made the disclosure about
the Shimao Group's expansion plans during the official opening
of Hyatt on the Bund, the group's third luxury hotel in Shanghai
last week.

Yahoo! relates that Mr. Xu, ranked as China's second-richest
person by Forbes in 2006, with a net worth of more than
US$2 billion, has built a real estate empire over the past 18
years on the back of the country's booming property sector.


Shimao Property Holdings Limited -- http://www.shimaogroup.com/
-- is a large-scale developer of real estate projects in China,
specializing in high-end developments in prime locations.  The
company's business portfolio comprises the development of
residential properties, retail properties, offices and hotels.
The company has 15 projects at various stages of development
located in Shanghai, Beijing, Harbin, Wuhan, Nanjing, Fuzhou,
Kunshan, Changshu, Shaoxing and Wuhu.

The Troubled Company Reporter-Asia Pacific reported on June 13,
2007, that Standard & Poor's Ratings Services said that its
rating on Shimao Property Holdings Ltd. (BB+/Stable/--) was not
immediately affected by the company's recent proposal to inject
most of its retail and commercial assets into A-sharelisted
Chinese property company, Shanghai Shimao Co. Ltd., in return
for ultimate controlling ownership in the company.

In addition, on July 24, 2007, Fitch Ratings has assigned a
Long-term Foreign Currency Issuer Default Rating of 'BB+' to
China-based Shimao Property Holdings Limited.  Simultaneously,
Fitch has assigned issue ratings of 'BB+' to Shimao's US$350
million senior notes due 2016 and USD250m senior floating rate
notes due 2011, respectively.  The Outlook for the IDR is
Stable.


TYSON FOODS: Outlines International Expansion Plans
---------------------------------------------------
As part of ongoing efforts to meet growing world demand for
protein, Tyson Foods, Inc. plans to expand the company's
presence in South America, China and Mexico.  Tyson's efforts to
turn fat into fuel also continue to move forward, with the
selection of a site in Louisiana for an alternative fuel
production facility.

The international expansion and renewable fuel plans were
reported today as part of presentations by six Tyson executives
to analysts and investors at a meeting in New York City.

            International Sales Improvement Program

Rick Greubel, group vice president and president of Tyson
International, disclosed the company has set a goal of
increasing international sales from US$3 billion in fiscal 2007
to US$5 billion by 2010.  Expanding and establishing operations
in other countries will be a key to achieving this objective.

Greubel reported the company has signed a letter of intent to
buy a mid-size, vertically integrated poultry business in
Brazil.  While details, including the name of the company, have
not been released, company officials hope to complete the
acquisition before the end of calendar 2007.

Tyson has also reached preliminary agreements for two joint
venture poultry operations in China.  While specific details
were not shared, Greubel indicated both ventures are currently
expected to be completed in fiscal year 2008 and will help make
Tyson one of the first companies in China to offer a full line
of poultry products.

Expansion of Tyson de Mexico, the Mexican poultry subsidiary of
Tyson Foods, is another ongoing objective.  The company is
exploring ways to significantly increase production at its
chicken processing operations in Mexico and also expand sales to
customers in the region, including those in Central America.


TYSON FOODS: Earns US$32 Million in Fourth Qtr. Ended Sept. 30
--------------------------------------------------------------
Tyson Foods Inc. reported Monday net income of US$32 million for
the fourth fiscal quarter ended Sept. 29, 2007, compared to a
net loss of US$56 million in the same quarter last year.  Fourth
quarter 2007 sales were US$6.9 billion compared to US$6.5
billion for the same period last year.  Operating income was
US$102 million compared to an operating loss of US$20 million
last year.

Sales for fiscal 2007 were US$26.9 billion compared to US$25.6
billion last year.  Operating income was US$614 million in
fiscal 2007 compared to an operating loss of US$77 million in
fiscal 2006, and net income was US$268 million in fiscal 2007
compared to a net loss of US$196 million in fiscal 2006.

During the fourth quarter of fiscal 2007, the company recognized
US$17 million of non-cash tax expense associated with the
correction of its fixed asset tax costs.  This was primarily
related to a fixed asset system conversion in 1999, which caused
an inappropriate increase in the company's fixed asset tax
costs.

During the fourth quarter of fiscal 2006, the company recorded
pretax charges totaling US$23 million associated with its Cost
Management Initiative, plant closing costs and other business
consolidation efforts.  These charges included severance
expenses, product rationalization costs and other asset
impairment related expenses.  The company also recorded a US$15
million charge during the fourth quarter of fiscal 2006
resulting from a review of its tax account balances, as well as
a US$5 million charge related to the cumulative effect of a
change in accounting principle due to the adoption of Financial
Accounting Standards Board Interpretation No. 47, "Accounting
for Conditional Asset Retirement Obligations," an interpretation
of FASB Statement No. 143.  In the first nine months of fiscal
2006, the company recorded pretax charges totaling US$59 million
associated with plant closing costs.

"We made tremendous progress in fiscal 2007," said Richard L.
Bond, president and chief executive officer.  "I give all the
credit for our success to the Tyson team members, who have
worked so hard for this turnaround.

"All four segments were profitable for the quarter, as
anticipated, and profitability improved year over year for each
segment.  We achieved record sales of US$27 billion, along with
a nearly US$700 million operating income improvement.  Our
US$2.8 billion debt balance at the end of the fiscal year was
the lowest it has been since the IBP acquisition in 2001.  We
exceeded US$265 million in annualized savings from our Cost
Management Initiative, and we recently completed efforts to
streamline the organization and improve our decision making
processes for greater agility as a company," Bond said.

"As we begin 2008, we are experiencing some challenging market
conditions.  Based on present assessments, we believe we will
incur additional increased grain costs of approximately
US$300 million in the chicken segment," Bond said.  "The current
beef environment is extremely difficult as well.

"Even with these concerns I remain very confident about the
future of Tyson Foods.  I believe we are a much stronger and
better positioned company, and I believe our strategies are
right for long term success."

At Sept. 29, 2007, the company's consolidated balance sheet
showed US$10.230 billion in total assets, US$5.499 billion in
total liabilities, and US$4.731 billion in total shareholders'
equity.

                      About Tyson Foods

Based in Springdale, Arkansas, Tyson Foods, Inc. (NYSE:TSN)
-- http://www.tysonfoods.com/-- is a processor and marketer of  
chicken, beef, and pork.  The company produces a wide variety of
protein-based and prepared food products, which are marketed
under the "Powered by Tyson(TM)" strategy.

The company has operations in China, Japan, Singapore, South
Korea, and Taiwan.  In Latin America, Tyson Foods has operations
in Argentina.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 24, 2007, Moody's Investors Service affirmed Tyson Foods
Inc.'s ratings, including its Ba1 corporate family rating and
Ba1 probability of default rating.  Moody's said the rating
outlook is negative.


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

AGILENT TECHNOLOGIES: Inks Merger Agreement with Velocity11
-----------------------------------------------------------
Agilent Technologies Inc. and Velocity11 have signed a
definitive agreement for Agilent to acquire Velocity11.   
Velocity11, privately held, is a leader in automated liquid
handling and laboratory robotics for the life science market.
Financial details were not disclosed.  The acquisition is
expected to be final in 30 to 60 days, subject to certain
closing conditions.

The acquisition will enable Agilent to offer a more
comprehensive suite of workflow solutions to its life science
customers in the pharmaceutical, biotech and academic research
markets.  Velocity11 designs, manufactures and markets robotic
solutions that range from standalone instrumentation to bench-
top automation solutions to large, multi-armed robotic systems.   
The company also develops world-class software to control the
robotics.  Velocity11’s technology will strengthen Agilent’s
offering of automated sample-preparation solutions across a
broad range of applications.

"Velocity11 is a market leader in lab automation with a solid
reputation for innovative technology, quality products and
superb customer service,"said Nick Roelofs, vice president of
Agilent’s Life Science Systems and Solutions Unit.  "Together,
we can offer customers a comprehensive set of workflow solutions
with increased levels of automation, which can help speed drug
discovery and genetic research. When the acquisition is final,
customers will continue to experience the same personalized
customer service they’ve come to expect from Velocity11, with
the addition of Agilent’s strong network of global service and
support."

"We are very excited to be joining Agilent and to have found a
company with such a complementary culture, product line,
commitment to customer satisfaction and vision for providing
complete automated workflow solutions,"said Rob Nail,
Velocity11’s CEO.  "The ability to leverage Agilent’s global
infrastructure and deep applications focus will allow us to
continue to improve the services we provide our customers,
innovate in new directions, and rapidly expand our reach
worldwide."

Agilent is offering jobs to substantially all of Velocity11’s
approximately 150 employees worldwide.  Headquartered in Menlo
Park, California, Velocity11 has a second office in Melbourn,
Hertfordshire, U.K., with field sales and support offered
throughout the U.S. and western Europe.  The company was
established in 1999.

Velocity11 has been recognized as one of the fastest growing
companies in Silicon Valley and in North America.  In 2006,
Velocity11 was named to Deloitte’s "Fastest Growing U.S. Tech
Company" list.

                        About Velocity11

Velocity11 -- http://www.velocity11.com/-- is a privately held  
company based in Menlo Park, Calif., and is focused on
pioneering automation technology solutions for life science
laboratories.  The company’s customers comprise most of the
major pharmaceutical and biotechnology companies as well as
leading genome centers and academic institutions.  Combining
innovative engineering with high standards of quality and
customer service, Velocity11 designs and manufactures flexible
high-performance automation solutions for processes that are
transforming the industry.  Velocity11 is committed to providing
its customers with The Ultimate Automation Experience(tm).

Based in Santa Clara, California, Agilent Technologies Inc.
(NYSE: A) -- http://www.agilent.com/-- is a measurement company  
serving communications, electronics, life sciences and chemical
analysis industries.  The company's 19,000 employees serve
customers in more than 110 countries.

The company has operations in India, Argentina, Puerto Rico,
Bolivia, Paraguay, Venezuela, and Luxembourg, among others.

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 26, 2007,
Moody's Investors Service assigned a Ba1 rating to Agilent
Technologies, Inc.'s proposed offering of $500 million senior
notes due 2017 and affirmed its existing ratings and stable
outlook.


ARTSON ENGINEERING: Posts INR6MM Profit in Qtr. Ended Sept. 30
--------------------------------------------------------------
Even with increased revenues, Artson Engineering reported a
bottom line in latest quarter under review of just about the
same compared to the corresponding period in 2006.

In July-Sept. 2007, Artson Engineering booked a net profit of
INR6.16 million, just a slight improvement from the
INR5.85 million in the corresponding quarter last year.  Total
income, however, more than doubled to INR80.95 million from last
year's INR39.42 million.  The boost in revenues was pulled down
by rising operating expenses, which jumped 126% to
INR72.5 million compared to the INR32.07 million incurred in
July-Sept. 2006.

A copy of the company's financial results for the quarter ended
Sept. 30, 2007, is available for free at:

              http://ResearchArchives.com/t/s?257a

Headquartered in Mumbai, India, Artson Engineering Limited --
http://www.artson.net/-- is a niche engineering company active
in specialized area of refineries, ports and airports.

The company was referred to the Board for Industrial and
Financial Reconstruction as a sick company.  Its proposal for
restructuring is currently under review.


BUNGE LTD: Closes Cumulative Preference Shares Sale for US$110MM
----------------------------------------------------------------
Bunge Limited has completed the sale and issuance of 112,500
additional 5.125% cumulative mandatory convertible preference
shares (US$1,000 liquidation preference per share) pursuant to
the over-allotment option granted to the underwriter in
connection with Bunge's previously announced public offering
that closed on Nov. 7, 2007.
    
As a result of the exercise in full of the over-allotment
option, Bunge has issued an aggregate of 862,500 mandatory
convertible preference shares in the offering.  Bunge received
additional net proceeds, after deducting underwriting discounts
and commissions, of approximately US$110 million, which resulted
in aggregate net proceeds from the offering of approximately
US$845 million.  Bunge intends to use the additional net
proceeds from the offering to repay indebtedness and for general
corporate purposes.

Citi served as the sole manager for the offering.
    
This offering of preference shares may be made only by means of
a prospectus supplement and an accompanying prospectus.  Copies
of the prospectus supplement and the accompanying prospectus
relating to this offering can be obtained from Citi at Brooklyn
Army Terminal, 140 58th Street, 8th Floor, New York (fax: (718)
765-6732).

                          About Bunge

Headquartered in White Plains, New York, Bunge Ltd. is a global
agribusiness company with operations primarily in commodity
grain processing and fertilizer production.  It has operations
in India.

                        *      *      *

As reported in the Troubled Company Reporter-Latin America on
Nov. 8, 2007, Standard & Poor's Ratings Services has assigned
its 'BB' rating to Bunge Ltd.'s US$750 million of 5.125%
cumulative mandatory convertible preference shares.  At the same
time, S&P affirmed its 'BBB-' long-term corporate credit and
other ratings on Bunge.  The outlook is stable.  Pro forma for
the new issue, about US$4.2 billion of debt and preference
shares of the company are rated.  Proceeds from this issue will
be used to repay debt and for general corporate purposes.


CABLE & WIRELESS: Loses More Than US$100 Mil. from Cable Theft
--------------------------------------------------------------
The Jamaica Observer reports that Cable & Wireless has lost over
US$100 million due to cable theft.

According to The Observer, Cable & Wireless is collaborating
with the Crime Stop force.  The company is offering up to US$1
million for information leading to the arrest of telephone cable
thieves.

Cable & Wireless Chief Operating Officer Jim Pitchford commented
to The Observer, "The problem affects everybody, so we are now
calling on everyone to get involved in stamping it out."

The reward program has started.  It will be reviewed after six
weeks in line with Crime Stop's standard procedure.  Informants
will remain anonymous, The Observer says, citing Peter Thwaites,
chairperson of Crime Stop operator National Crime Prevention
Fund.

Cable theft in Jamaica had been cutting off telephone service in
numerous communities, Cable and Wireless told The Observer.

There were over 200 instances of cable theft, 76% being repeat
incidents, The Observer notes, citing Mr. Pitchford.  Cables had
been stolen in every parish, particularly in:

          -- St. Ann,
          -- St. Mary, and
          -- St. Catherine.

Mr. Pitchford commented to The Observer, "There are even cases
where we are replacing stolen cables at one end of the route
while they are stealing cables at the other end.  The fact is
that Cable & Wireless has spent billions of dollars developing
its telecommunications infrastructure and we cannot afford to
have it destroyed and to have our customers without service for
indefinite periods because of criminal activity."

Cable & Wireless was investing in new technology to provide
telephone service to subscribers without having to "wire them
up," The Observer says, citing Mr. Pitchford.

"When people steal cables it puts the communities at risk
because people cannot call the police, the fire brigade, an
ambulance or even a neighbor to ask for assistance," Mr.
Pitchford told The Observer.

Headquartered in London, Cable & Wireless Plc --
http://www.cw.com/new/-- provides voice, data and IP (Internet  
Protocol) services to business and residential customers, as
well as services to other telecoms carriers, mobile operators
and providers of content, applications and Internet services.  
The company has operations are in the United Kingdom, India,
China, the Cayman Islands and the Middle East.

                        *     *     *

In April 2007, in connection with the implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology
for the corporate families in the Telecommunications, Media and
technology sector, Moody's Investors Service confirmed its Ba3
Corporate Family Rating for Cable & Wireless Plc.

Moody's also assigned a Ba3 Probability-of-Default rating to the
company.

* Issuer: Cable & Wireless Plc

                                          Projected
                        Debt     LGD      Loss-Given
Debt Issue              Rating   Rating   Default
----------              -------  -------  --------
4% Senior Unsecured
Conv./Exch.
Bond/Debenture
Due 2010                B1       LGD4     60%

GBP200 million
8.75% Senior
Unsecured Regular
Bond/Debenture
Due 2012                B1       LGD4     60%


GUJARAT SIDHEE: Profit Down 51% in Qtr. Ended Sept. 30, 2007
------------------------------------------------------------
Gujarat Sidhee Cement Ltd's net profit in the quarter ended
Sept. 30, 2007, was cut in half to INR42.21 million from the
INR86.3 million in the same period last year.

Total income for the latest quarter under review slid 13% to
INR783.67 million, which is comprised of net sales of
INR768.73 million and other income of INR14.95 million.  
Operating expenses decreased by 8% to INR679.75 million leaving
the company an operating profit of INR103.92 million.

Interest charges for the July-Sept. 2007 quarter totaled
INR19.44 million while depreciation aggregated INR28.85 million.  
The company booked taxes of INR23.08 million and extraordinary
items of INR5.65 million.  The extraordinary items represents  
waiver of interest on loans from financial institutions on One-
Time Settlement.

A copy of the company's financial result for the quarter ended
Sept. 30, 2007, is available for free at:

               http://ResearchArchives.com/t/s?2579

India-based Gujarat Sidhee Cement Ltd is operating primarily in
the cement and clinker industry.  The company's operations are
predominantly in Gujarat.  

The Troubled Company Reporter-Asia Pacific reported on its
Nov. 9, 2007 "Large Companies with Insolvent Balance Sheets"
column that Gujarat Sidhee has a stockholder's equity deficit of
US$660,000.


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

ADARO INDONESIA: May Seek US$750-Million Loan to Repay Bonds
------------------------------------------------------------
PT Adaro Indonesia may borrow US$750 million from banks to repay
bonds in December, and plans to sell shares in an initial public
offering next year, various reports say.

President Director Boy Garibaldi Thohir told Bloomberg News  
that the company is targeting an IPO in July, and will redeem
US$400 million of bonds on Dec. 10.

International Herald Tribune notes that the company may raise as
much as US$600 million selling between 20% and 30% of existing
and new shares.

Adaro's bonds, which mature in 2010, must be sold because they
carry terms hindering plans to sell shares to the public and to
invest in increasing production, according to Bloomberg citing
Edwin Soeryadjaya an investor in Adaro.

Adaro, with mines in South Kalimantan Province, plans to
increase production by 5.6% to 38 million tons next year and to
40 million tons the year after, The Tribune adds.

                    About PT Adaro Indonesia

Headquartered in Indonesia, PT Adaro Indonesia
-- http://www.adaro-envirocoal.com-- operates one of the   
world's largest sub-bituminous coalmines in Kalimantan,
Indonesia.  The company operates under a Coal Cooperation
Agreement with the Government of Indonesia, which gives it the
right to mine coal within its agreement area in the Tanjung
district of South Kalimantan Province until the year 2022 with
rights to extend by mutual agreement.  There are four deposits
within the Agreement Area, which contain total coal resources of
approximately 3.0 billion tones of open cut coal characterized
by extremely thick seams of up to 50 meters with relatively low
overburden.

                          *     *     *

The Troubled Company Reporter-Asia Pacific reported on  Nov. 9,
2007, that Moody's Investors Service placed PT Adaro Indonesia's
Ba3 local currency corporate family and foreign currency bond
ratings under review for possible upgrade.

On Sept. 11, 2006, Standard & Poor's Ratings Services affirmed
its 'B+' corporate credit rating on Adaro Indonesia.  The
outlook is stable.

At the same time, Standard & Poor's affirmed its 'B+' rating on
the senior secured notes issued by Adaro's wholly owned
subsidiary, Adaro Finance B.V.  The issue is unconditionally and
irrevocably guaranteed by Adaro, and its related company, PT
Indonesia Bulk Terminal.  Adaro had total assets or
US$1.4 billion at March 31, 2006.  It is the largest single-mine
coal producer in Indonesia, with capacity of 38 million tons per
year in 2006 and reserves of at least 14 years.


CA INC: Signs Strategic Deal with HCL Technologies
--------------------------------------------------
CA Inc. and HCL Technologies have entered into an agreement to
establish a strategic partnership in which HCL will assume all
research and product development connected with CA’s threat
management security business.  CA will retain all sales and
marketing functions.

The goal of the strategic partnership is to grow CA’s threat
management business by combining the strengths of both
organizations.  HCL and CA will achieve goal alignment and
financial targets through revenue sharing.  The annual revenue
of CA’s threat management security business is in excess of
US$100 million.

The partnership covers all threat management products, which
include anti-virus, anti-spyware, integrated threat manager,
host-based intrusion prevention system, secure content manager,
internet security suite, anti-spam and firewall.

“HCL brings to the table over three decades of product
engineering heritage and a track record of successful
partnerships that have created value.  This partnership benefits
CA and HCL, and, most importantly, the customers who rely on
CA’s threat management security products to protect their
systems and data.” said Shiv Nadar, HCL’s chairman and chief
strategy officer.

“This unique strategic partnership will enable us to profitably
grow CA’s threat business, develop a more aggressive product
roadmap for the benefit of our customers, and ultimately gain
market share,” said Michael Christenson, CA’s chief operating
officer.  “We are very excited to have found a global player
with the strong reputation and solid depth of experience of HCL
to be our strategic partner.”

HCL will be responsible for research, engineering, architecture,
technical support, technical writing, and quality assurance. All
affected employees outside of European Union countries will be
offered employment with HCL. Within the EU countries, CA will
start the consultation process with the affected employees.

CA’s threat management products will continue to be sold
exclusively under the CA brand and through several routes to
market with a growing emphasis on channel partners.

The partnership is expected to become operational by year-end,
following the signing of a definitive agreement.

                     About HCL Technologies

HCL Technologies Ltd. is one of India's leading global IT
Services companies, providing software-led IT solutions, remote
infrastructure management services and BPO. Having made a foray
into the global IT landscape in 1999 after its IPO, HCL
Technologies focuses on Transformational Outsourcing, working
with clients in areas that impact and re-define the core of
their business.  The company leverages an extensive global
offshore infrastructure and its global network of offices in 18
countries to deliver solutions across select verticals including
Financial Services, Retail & Consumer, Life Sciences &
Healthcare, Hi-Tech & Manufacturing, Telecom and Media &
Entertainment.  For the quarter ended 30th September 2007, HCL
Technologies, along with its subsidiaries had last twelve months
revenue of US$1.5 billion and employed 45,622 professionals.

                      About HCL Enterprise

HCL Enterprise -- http://www.hcl.in/-- is a US$4.4 billion (Rs.  
18,525 crore) leading Global Technology and IT enterprise that
comprises two companies listed in India - HCL Technologies & HCL
Infosystems.  The 3-decade-old enterprise, founded in 1976, is
one of India's original IT garage start-ups.  Its range of
offerings span Product Engineering, Custom & Package
Applications, BPO, IT Infrastructure Services, IT Hardware,
Systems Integration, and distribution of ICT products.  The HCL
team comprises approximately 51,000 professionals of diverse
nationalities, who operate from 18 countries including 360
points of presence in India.  HCL has global partnerships with
several leading Fortune 1000 firms, including leading IT and
Technology firms.

                         About CA Inc.

Headquartered in Islandia, New York, CA Inc. (NYSE:CA) --
http://www.ca.com/-- is an information technology management  
software company that unifies and simplifies the management
ofenterprise-wide IT.  Founded in 1976, CA serves customers in
more than 140 countries.  The company has operations in Brazil,
Indonesia, Luxembourg, Philippines and Thailand.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 7, 2007, Standard & Poor's Rating Services affirmed its
'BB' corporate credit and senior unsecured debt ratings on
Islandia, New York-based CA Inc.  S&P revised the outlook to
stable from negative.

As reported in the Troubled Company Reporter-Latin America on
May 31, 2007, Fitch has affirmed these ratings for CA, Inc.:

     -- Issuer Default Rating at 'BB+';

     -- Senior unsecured revolving credit facility expiring 2008
        at 'BB+';

     -- Senior unsecured debt at 'BB+'.


COMVERSE TECH: Andre Dahan Assumes CEO Role for Subsidiary
----------------------------------------------------------
Comverse Technology Inc. reported a continuation of its
organizational realignment, through which certain positions at
Comverse Technology, Inc. and its wholly owned subsidiary
Comverse, Inc. have been consolidated, creating a more agile,
cross-functional structure.  Accordingly, Comverse Technology’s
President and Chief Executive Officer Andre Dahan will assume
the additional position of President and Chief Executive
Officer, Comverse, Inc. Mr. Dahan said, “We have been evolving
from a holding company structure, and toward a flatter, more
functionalized global organization in which senior management is
closer to our customers, and decisions can be made more
efficiently.”

The consolidation represents another step in creating a more
functional and agile organization, better able to serve
customers with greater responsiveness.  This year, Comverse
Technology has strengthened its senior management team through
the addition of:

   -- John Bunyan, Chief Marketing Officer;

   -- Lance Miyamoto, Executive Vice President, Global Human
      Resources;

   -- Cynthia Shereda, Executive Vice President, General Counsel
      and Corporate Secretary; and

   -- Lauren Wright, Senior Vice President, Business Operations
      and Planning.

Each of these new executives holds cross-functional
responsibilities at both Comverse Technology, Inc., and
Comverse, Inc.

With this realignment, Yaron Tchwella, the current President of
Comverse, Inc., will be leaving the company following a
transition period.  “I’d like to thank Yaron for his
contributions to the company, and in particular for his role in
helping to design and launch our organizational transition,
while meeting business goals and objectives during his time as
President,” Mr. Dahan added.

                    About Comverse Technology

Comverse Technology, Inc., -- http://www.cmvt.com/-- (Pink  
Sheets: CMVT.PK) through its Comverse, Inc. subsidiary, provides
software and systems enabling network-based multimedia enhanced
communication and billing services.  The company's Total
Communication portfolio includes value-added messaging,
personalized data and content-based services, and real-time
converged billing solutions.  Over 500 communication and content
service providers in more than 130 countries use Comverse
products to generate revenues, strengthen customer loyalty and
improve operational efficiency.  Other Comverse Technology
subsidiaries include: Verint Systems (VRNT.PK), which provides
analytic software-based solutions for communications
interception, networked video security and business
intelligence; and Ulticom (ULCM.PK), which provides service
enabling signaling software for wireline, wireless and Internet
communications.

Comverse has offices all over the world, including Indonesia,
Malaysia and the Philippines

In Latin America, Comverse has operations in Argentina, Brazil,
Mexico and Peru.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 5, 2007,
Standard & Poor's Ratings Services kept its 'BB-' corporate
credit and senior unsecured debt ratings on New York-based
Comverse Technology Inc. on CreditWatch with negative
implications, where they were placed on March 15, 2006.


HILTON HOTELS: Inks Management Agreement with Desatur Cariari
-------------------------------------------------------------
Hilton Hotels Corporation has signed a multi-year management
agreement with Desatur Cariari, S.A. for a full-service
Doubletree by Hilton(TM) hotel in San Jose, Costa Rica - the
Hilton Family of Hotels’ fourth hotel development in Costa Rica
this year.  Prior to its anticipated opening in January 2008,
the 222-room Doubletree Cariari by Hilton San Jose, Costa Rica
will undergo a series of renovations featuring upgrades to
guestrooms, public areas, restaurants, meeting facilities, and
more.

“Hilton has made a commitment to grow its family of hotels
throughout Central America, and we are thrilled to bring another
Doubletree by Hilton hotel to the most visited country in the
region.  The Doubletree Cariari by Hilton San Jose and
Doubletree by Hilton Puntarenas Resort will complement each
other and support the brand’s recognition as we continue to
grow,” commented Danny Hughes, area vice president, Caribbean
and Central America, for Hilton Hotels Corporation.  “The full-
service Doubletree Cariari by Hilton San Jose will acquaint
guests with the diversity that makes this country such a great
place to visit for business or pleasure.”

Located in Costa Rica’s capital city of San Jose, the Doubletree
Cariari by Hilton San Jose is just five minutes from Juan
Santamaria International Airport and ten minutes from the city
center.  The hotel will feature 174 charming guestrooms and 48
suites, including 24 suites with specialized butler service.  
Recreation options will include two swimming pools, fitness
center, and casino, while business travelers will have access to
a fully equipped business center, and 11 meeting rooms.  The
hotel will offer one signature restaurant, a pool bar, and
cafeteria, serving everything from local to international
cuisine.  And, if sightseeing is on the schedule, the hotel is
five minutes from the Plaza Real Cariari shopping center, 30
minutes from the Coffee Tour and Finca de Mariposas (butterfly
farm), and one hour from the Irazu Volcano national park.

In January, Hilton Hotels Corporation announced multi-year
management agreements to manage a 202-room property in Papagayo
and a 410-room property in Puntarenas as the first Hilton and
Doubletree by Hilton branded resorts in Costa Rica,
respectively.  Both resorts are anticipated to open in January
2008.  Earlier this year, Hilton also announced the signing of a
franchise hotel agreement for a Hilton Garden Inn(TM) hotel in
Liberia, Costa Rica, which is forecasted to open in Fall 2008.

"Costa Rica is a thriving destination and we are delighted to
bring our second Doubletree by Hilton hotel to this area of
Central America,” said Dave Horton, senior vice president –
brand management for Doubletree Hotels.  “Doubletree Hotels
continues to expand its upscale, full-service hotel portfolio at
a solid pace and this newest hotel agreement in San Jose, Costa
Rica reinforces our pride in Doubletree being recognized by
hotel owners and developers as a dynamic, credible and lucrative
hotel brand for hoteliers around the world.”

"We are delighted to be part of the Hilton Family of Hotels and
fly the Doubletree by Hilton flag on our property in San Jose,
Costa Rica,” said Yukiko Nakayama, president of Desatur Cariari,
S.A. “The Hilton Family boasts a collection of sales, marketing,
and technology tools that will complement our product and help
deliver great recognition and success for our new hotel.  We
look forward to a long and prosperous partnership.”

                      About Desatur Cariari

Desatur Cariari, S.A. owns the Melia Cariari scheduled to become
the Doubletree Cariari by Hilton, San Jose in January 2008, a
resort known for its traditional Costa Rican flavor.  The parent
company is Corporacion Hotelera Cari-Coro, S.A., a prosperous
Japanese corporation that owns a second hotel in Costa Rica.  
Both properties have enjoyed positive results and great success
thanks to the recognition generated amongst visitors and the
support of the Costa Rican Tourism Institute.

                     About Doubletree Hotels

With a growing collection of contemporary, upscale
accommodations in more than 180 gateway cities, metropolitan
areas and vacation destinations throughout the U.S., Canada and
Latin America and an aggressive hotel development campaign
around the world, Doubletree Hotels, Guest Suites and Resorts
are distinctively designed properties that provide true comfort
to today’s business and leisure travelers.  From the millions of
delighted hotel guests who are welcomed with the brand’s
legendary, warm chocolate chip cookies at check-in to the
advantages of the award-winning Hilton HHonors(R) guest reward
program, each Doubletree guest receives a satisfying stay
wherever their travels take them.

                     About Hilton Hotels

Headquartered in Beverly Hills, California, Hilton Hotels Corp.
-- http://www.hilton.com/-- together with its subsidiaries,  
engages in the ownership, management, and development of hotels,
resorts, and timeshare properties, as well as in the franchising
of lodging properties in the United States and internationally,
including Australia, Austria, Barbados, Costa Rica, Finland,
India, Indonesia, Trinidad and Tobago, Philippines and Vietnam.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 29, 2007, Moody's Investors Service downgraded Hilton
Corporation's  Corporate Family Rating and senior unsecured
ratings to B3 and  Caa1, respectively.


PT INCO: Workers Ask for Additional Compensations
-------------------------------------------------
A number of PT International Nickel Indonesia Tbk's workers at
the Sorowako site walked off the job in an effort to persuade
the company to accept union demands for additional compensation.

The strike action is being undertaken by Labor Union FSP-KEP UK
PT Inco.  Company management and union representative are
discussing the demands but have thus far not reached an
agreement.

Mining and processing activities at the Company's Sorowako site
will partially continue.  The Company remains hopeful that
employees will return to work as soon as possible.


                  About  PT International Nickel

Headquartered in Jakarta, Indonesia, PT International Nickel
Indonesia Tbk -- http://pt-inco.co.id-- is a nickel producer     
with a production facility and mine are in Sorowako, Sulawesi,
where it has a contract agreement until 2025.  It produces
nickel matte, an intermediate product, from lateritic ores at
its integrated mining and processing facilities near Sorowako on
the island of Sulawesi. Inco Limited of Canada holds a 60.8%
stake of the company and Sumitomo Metal Mining Co Ltd. holds a
20.1% stake.

                           *    *    *

As of October 29, 2007, the company currently holds Standard and
Poor's long-term foreign and local issuer credit ratings both at
BB- rating.

As of As of October 29, 2007, the company currently holds Fitch
Rating's BB LT Issuer Default rating and Foreign Currency LT
Derb Rating at BB.


PERUSAHAAN LISTRIK: Gov't No Plans for Dividend Increase
--------------------------------------------------------
State Enterprises Minister Sofyan A. Djalil said he still has no
intention to raise the dividends from T Perusahaan Listrik
Negara, which would enjoy a windfall profit from next year's
world oil price hike, Antara News reports.

According to the report,  Mr. Djalil said the decision to raise
the dividends have to be decided by the Shareholders General
Meeting.

Moreover, Mr. Djalil told the news agency that if the fiscal
authority is in the hands of the finance minister, so that if
the finance minister approves, increase in the company's
dividend will be implemented.

                     About Perusahaan Listrik

Indonesian state utility firm PT Perusahaan Listrik Negara --
http://www.pln.co.id/-- transmits and distributes electricity      
to around 30 million customers, roughly 60% of Indonesia's
population.  The Indonesian Government decided to end PLN's
power supply monopoly to attract independents to build more
capacity for sale directly to consumers, as many areas of the
country are experiencing power shortages.

The Troubled Company Reporter-Asia Pacific reported on June 18,
2007, that Standard & Poor's Ratings Services affirmed its
'BB-' foreign currency rating and 'BB' local currency rating on
Indonesia's PT Perusahaan Listrik Negara (Persero).  The outlook
is stable.  At the same time, Standard & Poor's assigned its
'BB-' issue rating to the proposed senior unsecured notes to be
issued by PLN's wholly owned subsidiary, Majapahit Holding B.V.


PERUSAHAAN LISTRIK: Seeks US$1.5-BB Loan to Meet Energy Need
------------------------------------------------------------
PT Perusahaan Listrik Negara is seeking a US$1.5 billion loan to
meet rising energy needs in the nation, International Herald
Tribune reports.

According to the report, the company wants a 10-year term on the
loan, which will be guaranteed by the government and covered by
China Export & Credit Insurance, said the bankers.

The report cites a Moody's Investors Service's June 14 report as
stating that, Listrik Negara plans to spend US$9 billion from
2006 to 2010 to develop 9,000 megawatts of coal-fired generation
capacity.  

Listrik Negara is expected to finance 85% of the US$9 billion
capital expenditure plan with secured export-credit agency loans
with the rest from bonds, Moody's said in the report.  Funds
will be spent on coal-fired plants to replace the dependence of
the nation on oil, the report says.

The Tribune points out that Listrik Negara may have to pay more
for new borrowing as global credit spreads are widening due to
concern over losses in U.S. subprime mortgages.

                     About Perusahaan Listrik

Indonesian state utility firm PT Perusahaan Listrik Negara --
http://www.pln.co.id/-- transmits and distributes electricity      
to around 30 million customers, roughly 60% of Indonesia's
population.  The Indonesian Government decided to end PLN's
power supply monopoly to attract independents to build more
capacity for sale directly to consumers, as many areas of the
country are experiencing power shortages.

The Troubled Company Reporter-Asia Pacific reported on June 18,
2007, that Standard & Poor's Ratings Services affirmed its
'BB-' foreign currency rating and 'BB' local currency rating on
Indonesia's PT Perusahaan Listrik Negara (Persero).  The outlook
is stable.  At the same time, Standard & Poor's assigned its
'BB-' issue rating to the proposed senior unsecured notes to be
issued by PLN's wholly owned subsidiary, Majapahit Holding B.V.


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

ATARI INC: Eyes Publishing & Distribution in North America
----------------------------------------------------------
Atari, Inc., said it will re-focus its operations on publishing
and distribution in North America, completing its withdrawal
from the production business.  Atari also announced that it has
licensed its Test Drive franchise to Infogrames Entertainment,
S.A. under an agreement, which includes a US$5 million advance
royalty.

                  Restructuring Initiative
    
Atari has determined to focus its resources on the publishing
and distribution segments of the rapidly growing video game
business.  The company's operations will involve title
acquisition, sales and marketing, and physical distribution of
products from IESA, its 51% shareholder, and
other selected partners.
    
In line with that goal, Atari has agreed in principle with IESA
to terminate its Production Services Agreement in the near
future.  As a result, Atari will no longer provide production
and quality assurances services to IESA.  Rather, Atari plans to
transfer certain employees and contract other staff on a project
basis for a limited period of time.
    
As part of the company restructuring, Atari, Inc. will reduce
its current workforce in order to re-align the company's cost
structure with its on-going business base.

                 Test Drive Licensing Agreement
    
Test Drive Unlimited, an award-winning product in 2006, together
with the entire Test Drive franchise has been licensed to IESA
under a 6-year agreement that provides for a US$5 million
advance royalty.  Test Drive Unlimited, an award-winning product
in 2006, together with the entire Test Drive franchise has been
licensed to IESA under a 6-year agreement that provides for a
US$5 million advance royalty.  The agreement allows IESA, whose
Eden Studios originally developed Test Drive Unlimited for
Atari, to develop and market at least two new releases of the
franchise during the life of the license.  It is anticipated
that the deal, signed on Nov. 8, 2007, will assure the continued
vitality of the franchise and will strengthen the relationship
between Atari and its parent company while providing an
important element in the on-going financial restructuring of
Atari.
    
Atari's Chief Restructuring Officer, Curtis G. Solsvig III
commented  "Atari continues to take important steps to stream-
line operations and establish a winning business plan.  We
expect that the actions we are undertaking today will position
us for the future as a preferred business
and distribution partner."
    
As previously announced, Atari recently signed a deal with
BlueBay High Yield Investments (Luxembourg) S.A.R.L for
financial support in the form of a US$10 million credit facility
as part of its overall financial restructuring.  Blue Bay owns
in excess of 20% of IESA's stock.

                         About Atari

Headquartered in New York, Atari Incorporated, (NASDAQ: ATAR)
-- http://www.atari.com/-- together with its subsidiaries,  
publishes, develops, and distributes video game software in
North America.  It offers games for various platforms.  Its
portfolio of games includes action, adventure, strategy, role-
playing, and racing.  Atari distributes its video game software
in the United States, Canada, and Mexico through mass merchants,
retail outlets, online outlets, specialty retailers, and
distributors.  The company, founded in 1992, was formerly known
as Infogrames Inc. and GT Interactive Software Corp.  It changed
its name to Atari Incorporated in 2003 and is a subsidiary of
Infogrames Entertainment SA.

Atari has offices in Brazil, the United Kingdom and Japan.

                     Going Concern Doubt

New York-based Deloitte & Touche LLP expressed substantial doubt
about Atari's ability to continue as a going concern after
auditing the company's consolidated financial statements for the
year ended Mar. 31, 2007.  The auditing firm pointed to the
company's significant operating losses.


ATARI INC: Streamlines Operations, Establishes Business Plan
------------------------------------------------------------
Atari Inc. will re-focus its operations on publishing and
distribution in North America, completing its withdrawal from
the production business.  Atari has licensed its Test Drive
franchise to Infogrames Entertainment, S.A. under an agreement
which includes a $5 million advance royalty.

                    Restructuring Initiative

Atari has determined to focus its resources on the publishing
and distribution segments of the rapidly growing video game
business.  The company's operations will involve title
acquisition, sales and marketing, and physical distribution of
products from IESA, its 51% shareholder, and other selected
partners.

In line with that goal, Atari has agreed in principle with IESA
to terminate its Production Services Agreement in the near
future.  As a result, Atari will no longer provide production
and quality assurances services to IESA.  Rather, Atari plans to
transfer certain employees and contract other staff on a project
basis for a limited period of time.

As part of the company restructuring, Atari, Inc. will reduce
its current workforce in order to re-align the company's cost
structure with its on-going business base.

                 Test Drive Licensing Agreement

Test Drive Unlimited, an award-winning product in 2006, together
with the entire Test Drive franchise has been licensed to IESA
under a 6-year agreement that provides for a $5 million advance
royalty.  Test Drive Unlimited, an award-winning product in
2006, together with the entire Test Drive franchise has been
licensed to IESA under a 6-year agreement that provides for a $5
million advance royalty.  The agreement allows IESA, whose Eden
Studios originally developed Test Drive Unlimited for Atari, to
develop and market at least two new releases of the franchise
during the life of the license.  It is anticipated that the
deal, signed on Nov. 8, 2007, will assure the continued vitality
of the franchise and will strengthen the relationship between
Atari and its parent company while providing an important
element in the on-going financial restructuring of Atari.

"Atari continues to take important steps to streamline
operations and establish a winning business plan,\u201d Curtis
G. Solsvig III, Atari's Chief Restructuring Officer, commented.  
\u201cWe expect that the actions we are undertaking today will
position us for the future as a preferred business and
distribution partner."

                     BlueBay Credit Facility

As reported in the Troubled Company Reporter on Oct. 26, 2007,
Atari recently signed a deal with BlueBay High Yield Investments
(Luxembourg) S.A.R.L for financial support in the form of a $10
million credit facility as part of its overall financial
restructuring. Blue Bay owns in excess of 20% of IESA's stock.

                         About Atari Inc.

Headquartered in New York, Atari Incorporated, (NASDAQ: ATAR) -
http://www.atari.com/ -- develops interactive games for all   
platforms and is a third-party publisher of interactive
entertainment software in the U.S.  Atari Inc. is a majority-
owned subsidiary of France-based Infogrames Entertainment SA, an
interactive games publisher in Europe.

Atari has offices in Brazil, the United Kingdom and Japan.

Atari Inc.'s consolidated balance sheet at June 30, 2007, showed
US$35.0 million in total assets and US$43.6 million in total
liabilities, resulting in an US$8.6 million in total
shareholders' deficit.

                       Going Concern Doubt

New York-based Deloitte & Touche LLP expressed substantial doubt
about Atari's ability to continue as a going concern after
auditing the company's consolidated financial statements for the
year ended March 31, 2007.  The auditing firm pointed to the
company's significant operating losses.


COREL CORP: S&P Revises Outlook; Affirms B Corp. Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services has revised its outlook on
Corel Corp. to stable from positive.  At the same time, S&P
affirmed the ratings, including the 'B' long-term corporate
credit rating, on the company.  At Aug. 31, 2007, the company
had US$169 million of debt outstanding.
     
"The outlook revision reflects the company's weaker-than-
expected operating performance for the nine months ended
Aug. 31, 2007, and limited visibility that it can meaningfully
improve its operating cash flows in the next 12 months despite
several product releases under way," said S&P's credit analyst
Madhav Hari.  Specifically, in the nine months ended
Aug. 31, 2007, Corel Corp. reported a mid-single-digit decline
in organic revenues with weak performance at both high-margin
Corel on a stand-alone basis (67% of pro forma revenues;
negative 3.7% year-over-year) and InterVideo Inc. (33% of
revenues; high single-digit year-over-year decline).  
"Nevertheless, discretionary free cash flow generation, while
below our expectations of US$40 million for fiscal 2007, remains
substantive and offers solid support for the ratings," Mr. Hari
added.
     
The ratings on Corel Corp. reflect its weak market position
within the highly competitive packaged software industry, weak
pricing power, a limited track record of profitability, and the
short life span of such products in general.  The ratings also
reflect an aggressive financial policy given the company's
desire to continue seeking additional debt-financed acquisitions
in the medium term.  These factors are partially offset by
Corel's brand recognition as a viable alternative to globally
dominant packaged software offerings; a large and diverse
installed base; improving product, geographic, and distribution
diversification from recent acquisitions; and a meaningful
proportion of recurring revenues from original equipment
manufacturers' (OEM) sales, upgrades, and maintenance contracts.
     
The stable outlook reflects S&P's view that Corel Corp. will be
able to modestly increase its revenues and continue to generate
meaningful free operating cash flow in the near term.  S&P
doesn't expect the company to significantly reduce its debt
because discretionary cash flows will be used to fund
acquisitions.  Should new product releases and improved
execution improve revenues, profitability, and free cash flow,
S&P could revise the outlook to positive.  Conversely, if
revenue growth weakens further and profitability stalls because
of competitive forces, pricing pressures, or shifting customer
(OEM) purchasing behavior, S&P could revise the outlook to
negative.

                      About Corel Corp.

Ottawa, Ontario-based Corel Corporation (NASDAQ: CREL) (TSX:
CRE) -- http://www.corel.com/-- is a packaged software company  
with an estimated installed base of over 40 million users.  The
company provides productivity, graphics and digital imaging
software.  Its products are sold in over 75 countries through a
scalable distribution platform comprised of original equipment
manufacturers, Corel's international websites, and a global
network of resellers and retailers.  The company's product
portfolio features CorelDRAW(R) Graphics Suite, Corel(R)
WordPerfect(R) Office, WinZip(R), Corel(R) Paint Shop(R) Pro,
and Corel Painter(TM).

The company has operations in Germany, Italy, the United
Kingdom, Australia, Japan, Korea, Brazil, and Mexico, among
others.


DELPHI CORP: To Receive Labor Payments from GM Through 2015
-----------------------------------------------------------
General Motors Corp. said in its third quarter 2007 financial
report filed with the U.S. Securities and Exchange Commission
that it expects to make its annual payments to Delphi Corp. for
labor costs through 2015, and said the payments could extend for
up to five more years.

Michigan-based General Motors said it will pay US$300,000,000 to
US$400,000,000 a year for labor costs, as part of the
settlements reached with Delphi and its labor union United
Automobile, Aerospace & Agricultural Implement Workers of
America.  Pursuant to the settlements, which was
contemporaneously filed with Delphi's Joint Plan of
Reorganization on September 6, 2007 before the U.S. Bankruptcy
Court for the Southern District of New York, General Motors
agreed to reimburse a certain portion of Delphi's U.S. hourly
labor costs incurred to produce systems, components, and parts
for GM from October 1, 2006 through September 14, 2015.

General Motors and the bankrupt auto-parts supplier also agreed
to resolve all outstanding issues and claims against each other.
Delphi agreed to withdraw a prior request to terminate its
supply agreements with GM.  Delphi, GM's former parts-making
unit, also agreed to issue a US$1,500,000,000 note in favor of
GM, in exchange for its assumption of Delphi's pension
obligations, and pay US$2,700,000,000 cash to GM on the
effective date of the Plan.

Due to difficulties in obtaining commitment for a proposed
US$7,100,000,000 exit financing contemplated in the Plan,
Delphi, however, has reduced the amount of cash to available for
use as "currency" to be paid to creditors and interest holders.  
GM has consented to an amendment, providing that GM would
receive US$1,500,000,000 in a combination of at least
US$750,000,000 in cash and a second lien note for the remaining
amount and US$1,200,000,000 in junior convertible preferred
stock of Delphi, instead of US$2,700,000,000 in cash.

Delphi is scheduled to seek the Bankruptcy Court's approval of
the disclosure statement explaining the terms of the Plan at a
November 29, 2007 hearing, which has already delayed for almost
two months.  Delphi has to obtain approval of the disclosure
statement before it could begin soliciting votes from creditors
and equity holders on the Plan.  Delphi expects to emerge from
bankruptcy in the first quarter of 2008.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information
services.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single supplier of vehicle    
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional
headquarters in Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
Mar. 31, 2007, the Debtors' balance sheet showed
US$11,446,000,000 in total assets and US$23,851,000,000 in total
debts.

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan.

(Delphi Bankruptcy News, Issue No. 96; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).


FORD MOTOR: Moody's Changes Rating Outlook to Stable
----------------------------------------------------
Moody's Investors Service affirmed the long-term ratings of Ford
Motor Company (B3 Corporate Family Rating, Ba3 senior secured,
Caa1 senior unsecured, and B3 probability of default), but
changed the rating outlook to Stable from Negative and raised
the company's Speculative Grade Liquidity rating to SGL-1 from
SGL-3.  Moody's also affirmed Ford Motor Credit Company's B1
senior unsecured rating, and changed the outlook to Stable from
Negative.  These rating actions follow Ford's announcement of
the details of the newly ratified four-year labor agreement with
the UAW.

Bruce Clark, senior vice president with Moody's said, "The key
elements of the Ford labor agreement are similar to those
contained in the contracts recently reached by the UAW with
General Motors and Chrysler.  Over the long term the new
contract will help to significantly reduce Ford's wage and
health care costs."  Clark cautioned, however, that "Despite the
very constructive elements of the agreement, the cash flow
benefits of the new contract will not really take hold until
2010.  As a result we still expect that through 2008, Ford's
operating cash flow will be significantly negative and its
credit metrics will remain weak."  The essential features of the
contract include: the establishment of a UAW-managed VEBA that
will be responsible for retiree health care costs; the
establishment of a two-tiered wage structure; and tighter
restrictions on eligibility for JOBs bank benefits

The improvement in Ford's outlook to stable reflects the longer-
term benefits of the UAW agreements and the company's
significant liquidity position, balanced against a very
challenging operating environment and the sizable negative cash
flow the company will generate through 2009.

Moody's revision of Ford Credit's outlook to stable considers
the ownership and business connections between Ford and Ford
Credit that link the ratings of the two firms.  Ford's improved
outlook suggests that it may be less likely to pursue actions
and strategies that would have adverse consequences for Ford
Credit's credit profile.  Pressures on Ford Credit's stand-alone
characteristics, such as its liquidity, asset quality and
profitability, may also be eventually eased by Ford's improved
operating prospects.  However, Ford Credit is likely to continue
to face near-term challenges to its profitability resulting from
higher trending borrowing, credit, and depreciation costs. Ford
Credit's rating is positioned two-notches higher than Ford's,
reflecting Moody's view that holders of Ford Credit's debt would
experience lower loss severity in default than would the
creditors of Ford.

Until 2010, when Ford can begin to harvest some of the new
contract's cost savings, the company will have to contend with a
number of significant challenges that will result in
considerable negative cash flow from operations.  The rate of
operating cash consumption will be considerable during 2008 but
will likely narrow during 2009.  The near term challenges
confronting Ford include: a cost structure that, although
improving, is still uncompetitive with that of Asian rivals, the
need to fund employee buy-outs associated with the new UAW
contract, and the reluctance on the part of consumers to pay as
much for certain Ford vehicles as for vehicles produced by
competitors - despite Ford's steadily improving quality
measures.  Ford will also have to contend with the possibility
that broader economic and market conditions could become more
difficult in the US.  There is an increasing risk that US
automotive shipments fall below 16 million units during 2008;
this compares with shipments of about 16.5 million in 2007, and
17 million in 2006.  In addition, high oil prices could
accelerate the shift in consumer preference away from trucks and
SUVs toward cars and more fuel efficient vehicles.  These trends
could have a negative impact on the late-2008 introduction of
Ford's most profitable and most strategically important vehicle
-- the F-150 light truck.

An important mitigant to these near-term challenges is Ford's
strong liquidity position that will include approximately US$30
billion in cash and securities following the funding of the UAW-
managed VEBA, and US$11 billion in available credit facilities
that are committed through 2011.  Moody's notes that the degree
of benefit provided by this credit facility to Ford's overall
liquidity position may be moderated by the company's ability to
designate Ford Credit as a borrower.  Nevertheless, Ford has
considerable capacity to cover all expected cash requirements
during the next 12 to 24 months.  This very ample liquidity
profile supports the company's SGL-1 Speculative Grade Liquidity
rating.

During 2008, Ford will continue to focus on reducing material
costs, gaining market acceptance for new vehicles, stabilizing
its retail share position, and improving the pricing power and
profitability of it car and cross over vehicle portfolio.  The
company will also look to take full advantage of the cost
reduction opportunities within the UAW agreement.  Ford's rating
outlook could improve if progress in these areas indicates that
the company is on track to generate positive free cash flow,
sustain interest coverage exceeding 1x, and achieve EBITA
margins approximating 2.5% during the 2009 time frame.

Ford Motor Company, a leading global automotive manufacturer, is
headquartered in Dearborn, Michigan.

                     About Ford Motors

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles   
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 7, 2007, Standard & Poor's Ratings Services said its 'B'
long-term corporate credit rating on Ford Motor Co. and Ford
Motor Credit Co. remains on CreditWatch with positive
implications, following the agreement between Ford and the
United Auto Workers of a new labor contract.  The ratings were
placed on CreditWatch on Sept. 26, 2007, based on S&P's belief
that Ford would reach a deal similar to the one General Motors
Corp. reached with the UAW on that date.  Ford's 'B-3' short-
term rating was not on CreditWatch.


KRATON POLYMERS: Incurs US$754,000 Net Loss in Third Quarter
------------------------------------------------------------
Kraton Polymers LLC posted a net loss of US$754,000 on net
revenues of US$290.1 million for the three months ended
Sept. 30, 2007, compared to net income of US$11.6 million on net
revenues of US$288.1 million for the same period in 2006.

Gross Profit for the quarter decreased 25% to US$46 million, as
compared to US$62 million in the comparable period of 2006 as
higher monomers and plant-restructuring costs offset the
benefits of higher revenues.

"In the third quarter, we were disappointed by the volume
declines we saw in our Paving and Roofing end use market due to
lower market demand driven primarily by poor weather in our
North American market and lower government spending.  Outside of
Paving and Roofing however, we were pleased that our core
product volume experienced 6% growth versus last year," said
George B. Gregory, President and Chief Executive Officer.  "The
price increases we implemented in the quarter only partially
offset variable cost increases.  In response to lower margins,
we are reviewing further price increases to keep pace with
increasing raw material and energy costs and are accelerating
cost reduction programs.  As always, we remain committed to
providing our customers with the highest valued products and
service in the industry."

Quarterly Business Developments:

   * Achieved 6% core volume growth outside of Paving & Roofing.

   * Implemented SBS price increases in Europe and North
     America.

   * Finalized actions for closure of the SIS unit at the
     Pernis, Netherlands plant, generating expected cost savings
     of US$6-US$9 million annually.

   * Pre-paid US$40 million of term debt.

   * Grew innovation-based volumes by 114%.

   * Generated US$32 million incremental cash from working
     capital versus 3rd quarter 2006.

Based in Houston, Texas, Kraton Polymers LLC --
http://www.kraton.com/-- produces styrenic block copolymers.   
SBCs are highly-engineered thermoplastic elastomers, which
enhance the performance of numerous products by delivering a
variety of attributes, including greater flexibility,
resilience, strength, durability and processability.  Kraton
polymers are used in a wide range of applications including
adhesives, coatings, consumer and personal care products,
sealants, lubricants, medical, packaging, automotive, paving,
roofing, and footwear products.  Kraton has the leading position
in nearly all of its core markets and is the only producer of
SBCs with global manufacturing capability.  Its production
facilities are located in the United States, Germany, France,
The Netherlands, Brazil, and Japan.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 8, 2007, Standard & Poor's Ratings Services lowered its
ratings on Kraton Polymers LLC, including the corporate credit
and senior secured debt ratings to 'B' from 'B+'.  S&P said the
outlook is negative.


MEAT HOPE: Ex-President Indicted Over Mislabeling Charges
---------------------------------------------------------
Meat Hope Co.'s former president was indicted over the false
labeling of meat products by the Hokkaido District Public
Prosecutors Office, Kyodo News reports.

Kyodo News states that Minoru Tanaka was indicted on charges of
breach of the unfair competition prevention law as well as
fraud.

Mr. Tanaka, along with his 34-year-old son, Yoshihito, and two
other former executives of the company were arrested last month
on suspicion of falsely labeling minced meat containing pork and
chicken as "100% beef" and selling a total of 138 tons of such
meat products to 10 or more companies, recounts Kyodo news.

However, the prosecutors plan not to indict Mr. Tanaka's son and
the two former executives on the grounds that they were in
subordinate positions of the case, relates Kyodo News.


Meat Hope filed for bankruptcy on July 17, 2007, with the
Tomakomai branch of the Sapporo District Court.  The company,
according to a Troubled Company Reporter-Asia Pacific report on
July 19, 2007, had determined that it cannot maintain its
business any longer because its reputation has been severely
damaged after a mislabeling scandal broke on June 20.  Meat Hope
stopped its production lines and received many returned products
from its distributors and retailers.

The company had liabilities of about JPY670 million, the TCR-AP
cited The Shimbun.  However, a former Meat Hope executive said
that the sum cannot be taken at face value because the company
is also suspected of having juggled its accounts to evade taxes.


NOVA CORP: G.communication Opens First School Under Nova Name
-------------------------------------------------------------
G.communication Co. said it opened its new first new language
school under the Nova Corp. name near a major Nagoya train
station, Kyodo News reports.

According to the report, along with taking over Nova's
business operations, the company has replaced its existing
EC brand with the Nova name.

On November 9, 2007, the Troubled Company Reporter-Asia
Pacific reported that G.communication was chosen as a
sponsor to buy 30 of Nova's 670 branches after it filed for
bankruptcy protection on October 24.

The TCR-AP said that G.communication will initially take over
the 30 Nova schools, but reportedly plans to run about 200 Nova
branches under their original brand.

                      About Nova Corp.

Osaka-based Nova Corporation-- http://www.nova.ne.jp/-- is
primarily engaged in the operation of language schools.  The
Company has seven subsidiaries and two associated companies.
The Company is involved in the teaching of languages, the
creation of international environment of different languages and
cultures, the provision of real time services, the development
and provision of network contents, the development of hardware
technology, the building of human network, as well as the
organization of member groups to provide services
internationally.  The Company also has subsidiaries and
associates, which are engaged in advertisement services,
interior construction, facility and commodity sale, overseas
study services, computer system services, real estate brokerage,
facility leasing and installment sale, capital management,
cleaning services, sanitary management, multimedia goods sale,
Internet connection services, customer services and assistance
to foreigners.

Nova has reported two consecutive net losses -- JPY3.09-billion
net loss for fiscal year ended March 31, 2006, and
JPY2.89 billion for the year ended March 31, 2007.

The Troubled Company Reporter-Asia Pacific reported that on
Oct. 26, 2007, Nova Corp. sought protection from creditors with
the Osaka District Court under the Corporate Rehabilitation
Law with JPY43.9 billion in debt.


SANYO ELECTRIC: To Merge Fuel-Cell Business with Nippon Oil
-----------------------------------------------------------
Sanyo Electric Co. is in talks with Nippon Oil about merging
their fuel-cell businesses to cut development costs, Megumi
Yamanaka and Hiroshi Suzuki write for Bloomberg News.

According to the report, Sanyo confirmed the talks saying
that details of the joint venture still needs to be determined
at this point.

A spokesman for Japan's biggest refiner disclosed to Bloomberg
in a telephone interview that Nippon Oil may hold an 80% stake
in the fuel cell venture while Sanyo will own the remaining 20%.

Bloomberg states that both companies aim to reduce research and
development costs for fuel cells, which produce electricity
through a chemical reaction between hydrogen and oxygen.

                     About Sanyo Electric

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading  
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.

                          *     *     *

In March 2, 2007, Fitch Ratings placed SANYO Electric Co. Ltd.'s
BB+ long-term foreign and local currency issuer default and
senior unsecured ratings on rating watch negative.


SENSIENT TECHNOLOGIES: Officer Adopts Rule 10b5-1 Trading Plan
--------------------------------------------------------------
Sensient Technologies Corporation disclosed that an elected
officer has adopted an SEC Rule 10b5-1 plan to trade company
stock under a written, pre-arranged plan.  The plan was adopted
during an authorized trading period when the officer was not in
possession of material, non-public information.  The
transactions under the plan will be disclosed publicly through
Form 144 and Form 4 filings with the Securities and Exchange
Commission.

The plan covers only options that are due to expire in September
2008, and allows the officer to sell Sensient stock acquired as
a result of exercising the options during two window periods
starting in April 2008 and ending in August 2008.

The plan will cover the exercise of options on 14,000 shares for
John L. Hammond, Vice President, Secretary and General Counsel.

Headquartered in Milwaukee, Wisconsin, Sensient Technologies
Corp. -- http://www.sensient-tech.com/-- manufactures and   
markets colors, flavors and fragrances.  Sensient also employs
technologies to develop specialty chemicals for inkjet inks,
display imaging systems and other applications.  The company's
principal products include flavors, flavor enhancers and
bionutrients; fragrances and aroma chemicals; dehydrated
vegetables and other food ingredients; natural and synthetic
food colors; cosmetic and pharmaceutical additives; inkjet inks,
technical colors, and specialty dyes and pigments, and chemicals
for laser printing and flat screen displays.  In Europe,
Sensient maintains operations facilities and/or sales offices in
Belgium, Bosnia, Croatia, Cyprus, Czech Republic, Germany,
United Kingdom, France, Estonia, United Kingdom, Macedonia,
Poland, Romania, Serbia and Montenegro, Turkey, Ukraine, and
Wales.  In Latin America, it has operations in Argentina,
Bolivia, Brazil, Colombia, Costa Rica, Chile, Mexico, Peru,
Uruguay and Venezuela.

Sensient maintains operations in Argentina, Belgium, China, and
Japan, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 23, 2007, Standard & Poor's Ratings Services has revised
its outlook on Milwaukee, Wis.-based Sensient Technologies Corp.
to stable from negative.  At the same time, Standard & Poor's
affirmed its 'BB+' corporate credit and senior unsecured debt
ratings on the company.  Approximately USUS$508 million of debt
was outstanding as of June 30, 2007.


SOFTBANK CORP: To Set Up Joint Venture with Alibaba.com
-------------------------------------------------------
Softbank Corp. and the parent of Alibaba.com Inc. are in
talks to set up a Japanese joint venture possibly next year
that will boost the Chinese e-commerce company's footprint
in that market, Edwin Chan writes for Reuters.

Reuters conveys that Softbank President Masayoshi Son
mentioned that a few specifics had been finalized.

Mr. Son added that Softbank would take a majority stake in
the venture, but declined to reveal how much the cost of the
investment was, states Mr. Chan.

Softbank, as stated by Mr. Son, was actively seeking
investment in Internet start-up and private technology
firms across the world, including China, India and the
United States, Reuters says.

Mr. Son, according to Reuters, claims that Softbank's
strategy in dealing with China was not to go in by itself
but to find partners such as telecom carriers China Mobile
Ltd. and China Unicom Ltd.

Both companies will benefit from this merger as Softbank
would like to extend their success in Japan to China
eventually, while Alibaba sees Japan as strategically vital
to its campaign to boost its international business, notes
Reuters.

Softbank, Reuters adds, currently holds a 33% stake in the
parent of newly listed Alibaba.com.

                       About Alibaba.com

Alibaba.com Corp. is an online marketplace for international and
domestic China trade.  The company provides a platform for
connecting small and medium-sized buyers and suppliers from
China and around the world.  Its international marketplace
(http://www.alibaba.com)focuses on global importers and  
exporters and its China marketplace (http://www.alibaba.com.cn)
focuses on suppliers and buyers trading domestically in China.
Together the Company's marketplaces form a community of more
than 24 million members from over 200 countries and regions, as
of June 30, 2007.  It has field sales and marketing offices in
more than 30 cities in China, Hong Kong, Switzerland and the
United States.

                        About Softbank

Based in Tokyo, Japan, Softbank Corporation --
http://www.softbank.co.jp/-- is a leading Japanese
telecommunications and media corporation.  SoftBank was
established on September 3, 1981.  The company operates in eight
business segments:

   * Broadband Infrastructure Segment
   * Fixed-line Telecommunications Segment
   * e-Commerce Segment
   * Internet Culture Segment
   * Broadmedia Segment
   * Technology Services Segment
   * Media & Marketing Segment
   * Overseas Funds Segment

Softbank is also involved with leisure and service operations,
e-finance, holding company functions for overseas operations,
and back-office services in Japan.  SoftBank's corporate profile
includes various other companies such as Japanese broadband
company Cable & Wireless IDC, cable company BB-Serve, and gaming
company GungHo Online Entertainment.  In 2006, SoftBank bought
Vodafone Japan, giving it a stake in Japan's US$78 billion
mobile market.

As of March 31, 2007, the company's paid-in capital was
JPY163.3 billion.

                          *     *     *

The Troubled Company Reporter-Asia Pacific reported on June 7,
2007, that Standard & Poor's Rating Agency lifted its long-term
corporate credit and senior unsecured debt ratings to BB from
BB- in light of the company's increasing earnings stability.
The outlook for the long-term credit rating is stable.

Moody's Investors Service, on August 9, 2006, upgraded Softbank
Corp.'s stable long-term debt rating and issuer rating to Ba2
from Ba3, concluding a review initiated on March 17, 2006, when
the company announced that it would acquire a 97.7% stake in
mobile phone giant Vodafone Group's Japanese unit, Vodafone
K.K.


* Fitch Say Japanese Refineries to be Boosted by Export Growth
--------------------------------------------------------------
Fitch Ratings commented that Japanese oil refineries are likely
to benefit significantly from rising demand overseas, especially
China.

"Japan's refineries have historically been under-utilized due to
a continuous fall in domestic demand.  However, Fitch believes
that these plants are geographically well-positioned to meet
China's impending shortfall in capacity for refined petroleum
products," said Pekka Laitinen, regional co-head of Fitch's
Asia-Pacific Energy and Utilities team.  "Recent foreign
investments in local refineries have indicated that these assets
have growth potential and become attractive, despite the
downward trend in the domestic market," added Mr. Laitinen.

He also noted that China will need to import to fill the
shortfall in its domestic supply of refined petroleum products,
even though, in 2008, Chinese domestic refining capacity is
expected to increase by 10% to 7,735,000 barrels per day (BD).

The Japanese refining industry has had a long fight against
overcapacity.  Even though 19 refineries have been closed since
1975, the industry is still struggling with low utilisation
rates, averaging 83% in 2006, down from 87% in 2005.  The lower
operating rates translated into higher per-unit fixed costs and
reduced profitability for these refineries.  The domestic market
prospects also remain gloomy, as, for example, new car sales are
declining and the new models run on considerably less gasoline.  
Moreover, total oil product demand dropped by 5.2% in 2006 from
the year before, and no improvement is in sight.

Despite this, Brazil's Petrobras ('BBB-'(BBB minus)/Stable) has
signed a purchase agreement for a refinery in Okinawa in
Southern Japan with TonenGeneral Sekiyu KK (a subsidiary of
ExxonMobil, 'AAA'/Stable) this week.  After the planned upgrade
and increase in utilization, the products from this refinery
will be largely targeted at markets outside Japan.  Similarly,
Abu Dhabi-based International Petroleum Investment Company's
investment into Japanese oil major Cosmo Oil Co. Ltd. via a 20%
share acquisition this September was motivated, among other
things, by the further development of export sales after
refineries have been upgraded.  The largest Japanese refinery,
Nippon Oil Corporation ('BBB'/Stable), is also boosting its
cooperation with Chinese counterparties.  The company expects to
have an export capacity for 230,000 BD by March 2008, more than
double the amount in 2006.

Fitch views the utilization rate as a key measure of refinery
industry efficiency.  On the other hand, the International
Energy Agency expects China's oil demand to reach 10 million BD
by 2015.  As Japanese refineries increasingly position
themselves for booming export opportunities, the sector outlook
may finally start improving.


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

CLOROX CO: Board Declares 40 Cents Per Share Quarterly Dividend
---------------------------------------------------------------
The Clorox Company's board of directors has declared a regular
quarterly dividend of 40 cents per share on the company’s common
stock, payable Feb. 15, 2008, to stockholders of record on
Jan. 28, 2008.


Headquartered in Oakland, California, The Clorox Company
(NYSE: CLX) -- http://www.thecloroxcompany.com/-- provides   
household cleaning products and reaches beyond bleach.  Although
best known for bleach (leader worldwide), Clorox makes laundry
and cleaning items (Formula 409, Pine-Sol, Tilex), cat litter
(Fresh Step), car care products (Armor All, STP), the Brita
water-filtration system (in North America), and charcoal
briquettes (Kingsford).

The company has locations worldwide, including the Philippines,
South Korea, Hungary, Russia and the United Kingdom.

At Dec. 31, 2006, Clorox's balance sheet showed total assets of
US$3,624 million and total liabilities of US$3,657 million
resulting in a stockholders' deficit of US$33 million.  The
company reported a stockholders' deficit of US$156 million at
June 30, 2006.


EUGENE SCIENCE: Updates Shareholders on Growth Strategy Progress
----------------------------------------------------------------
Eugene Science provided its shareholders an update on the
company's progress in executing their growth strategy based on
plant sterols produced with its patented nano-technology
process.

Eugene Science believes the sterol market is only now beginning
to realize its mass-market growth potential hence the company is
preparing to accelerate sales in Asia and the Americas with an
ambitious business plan to strengthen its infrastructure and
launch multiple new global marketing initiatives.  Additionally,
Eugene Science intends to advance, in the months ahead,
commercialization of its own patents on other highly promising
nutraceutical technologies.

According to federal estimates released in July 2007, U.S. adult
consumers spent more money on cholesterol-lowering drugs than
any other class of drugs in 2004 -- this in spite of the drugs'
high costs.  In the year ended June 30, 2006, sales of
cholesterol-lowering prescription statin drugs totaled US$32.7
billion.  Worldwide, Pfizer Inc.'s Lipitor(TM) was the best
selling drug in any class with US$13.3 billion in sales.

Beyond its well documented cholesterol lowering benefits,
CZ(TM)'s nano-sized particles produce exceptional water
solubility and bio availability rendering it ideal for blending
in many foods and beverages -- securing its enviable position as
the market's premier sterol product.  While the worldwide
consumer rates of sterol adoption in the past two years were
slower than anticipated, today we are seeing a resurgent market.

Analysts at Frost and Sullivan project that the U.S. and
European sterol market alone will grow 15% annually to US$617
million by 2012.  Combined with today's large and fast growing
Asian and Latin American sterol markets, we see a worldwide
addressable market of more than US$1 billion.

Food industry executives polled by Reuters Business Insight
predict that, by 2009, cholesterol-lowering foods would be the
most profitable health food, far ahead of recently trendy
products such as low-carb foods.

Currently, the company is seeing record levels of interest from
its customer base reflected, in part, by the introduction of
several new CZ(TM)-enhanced products in the past year and active
consideration of numerous others.  This trend is confirmed by a
number of non water-soluble plant sterol-enhanced food products
recently introduced by competitors.  With the functional food
sector outgrowing niche status and reaching mainstream grocery
store shelves, Eugene Science is moving aggressively forward to
capture an increasing share of this growth market.

Strategic relationship with Archer Daniel Midland Co., which
sells the company's CZ as its CardioAid family of plant sterols
-- actively markets CardioAid to its global customer base.  ADM
holds exclusive marketing rights to CZ(TM) as a beverage
additive in North America and Europe.

Already this year, Eugene Science retained a marketing firm
specializing in the enormous Chinese market, raised capital and,
in Korea, began construction of a new, state-of-the-art
production facility outside Seoul.  The company's plans for the
next 120 days include:

   --  Increase revenues, beginning in the second half of 2007
       and accelerating strongly into 2008 as it target positive  
       cash flow.

   --  Reinforce management.  It will enhance the Company's
       management team and board of directors with highly  
       experienced, senior industry executives as well as with
       expert international sales and marketing consulting
       firms.

   --  Boost capacity.  Eugene Science plans to move into its
       new larger facility outside Seoul by year end.  This will
       enable the Company to double its CZ(TM) plant sterol
       production capacity from 50 tons to up to 100 tons     
       monthly, which translates into gross revenue capacity of
       up to approximately US$5 million monthly.

   --  Establish U.S. headquarters.  It will set up a U.S.
       headquarters office in Los Angeles to better serve thier
       U.S., Latin American and European customers and markets.

   --  Develop their Ceragem relationship.  Likewise, it will
       grow their relationship with Ceragem, a leading Los  
       Angeles-based worldwide retailer of holistic health
       products, through additional product lines and marketing
       campaigns.

   --  Restructure balance sheet.  A restructuring of the Eugene
       Science balance sheet is actively under way, and they
       anticipate achieving major progress toward reducing debt,
       raising their working capital and strengthening their
       cash position.

   --  Build on Asia success.  Asian markets were the first to   
       widely adopt plant sterols for their cholesterol-lowering
       properties, starting with their CZ(TM) cooking oil
       product in Korea and continuing with products such as the
       cholesterol-lowering chocolate ice cream sold by their
       Japanese customer Donatello's.  Eugene Science is
       actively pursuing new and expanded strategic
       relationships with food and beverage companies in Korea,
       Japan and China.

   --  Develop the Americas.  Eugene Science will target new
       national account sales opportunities for CZ(TM)-enhanced
       foods and oils in the U.S., as well as new food and
       beverage accounts in South America.

Additionally, to broaden and diversify its portfolio of leading
nutraceutical products, Eugene Science plans to:

   --  Develop AD/ADD biotechnology. The Company's AD/ADD
       biotechnology -- well established at prototype scale --
       uses our patented microorganism-based process to produce
       far higher conversion rates of sterols into AD/ADD vs.
       conventional chemical synthesis. Having secured our
       AD/ADD intellectua, property in recent months, they     
       believe the time is right to advance this science toward
       commercial production levels.  AD/ADD is a steroid
       hormone intermediate and key ingredient for most steroid
       hormone medical products including synthetic estrogens,
       gestogens, gluco-corticoids, and mineral-corticoids -- a
       market led by Pfizer and Schering-Plough estimated at
       US$7.5 billion worldwide.

   --  Pursue new technologies.  Eugene Science continues to
       investigate other complementary nutraceutical sector
       technologies that offer large, near-term revenue
       potential that it can efficiently commercialize and then
       license or sell through its growing marketing channels.
    
The company intends to reinforce management, strengthen
finances, and aggressively launch multiple CZ(TM) marketing
campaigns to leading food and beverage producers throughout
several target markets.

Additionally, it intends to unlock what we believe to be the
enormous value of its IP estate with the development or
licensing of AD/ADD and other proprietary technologies.  The
company's goal is to achieve several new or expanded customer
sales agreements over the next several months to generate a new,
higher revenue base upon which to build and increase the
Company's earnings potential.

                    About Eugene Science

Based in Kyonggi Do, South Korea, Eugene Science Inc. is a
global biotechnology company that develops, manufactures and
markets nutraceuticals, or functional foods that offer health-
promoting advantages beyond that of nutrition.  Plant sterols
are the company's primary products, which include CZTM Series of
food additives and CholZero(TM) branded beverages and capsules.
In June 2005, the company received regulatory approval for
certain health claims associated with the company's products
from government agencies in the Republic of Korea.

As reported by the Troubled Company Reporter-Asia Pacific on
Oct. 30, 2007, the independent auditors for Eugene Science,
Inc., after auditing the company's financial statements for the
year ended Dec. 31, 2006, raised substantial doubt on the
company's ability to continue as a going concern, citing its
recurring losses from operations and working capital
deficiencies.

In a regulatory filing with the United States Securities and
Exchange Commission, the company stated that it has experienced
recurring losses since 2000 and has negative cash flows from
operations.  Eugene Science's net losses were US$2,007,212 and
US$6,343,733 for the years ended December 31, 2006 and 2005,
respectively.

The Company admits that its ability to continue as a going
concern is contingent upon its ability to secure additional
financing, initiating sale of its product and attaining
profitable operations.


KENERTEC CO: Wins Exclusive Mining Rights in Cambodia
-----------------------------------------------------
Kenertec Co Ltd. has won exclusive mining rights in northern
Cambodia, Korea.net reports.

According to the report, the Ministry of Commerce, Industry and
Energy said the eight mining zones secured by Kenertec Co. cover
1,520 square kilometers -- twice the size of Seoul.

The ministry told the news agency that the company plans to
conduct more detailed seismic studies starting next year to
discern the size of the mineral deposits.  Full-scale
development of the region will take place after a complete
survey is conducted, the report adds.

Headquartered in Gyeongsangbuk Province, Korea, Kenertec Co.,
Ltd. -- http://www.kenertec.co.kr/-- is provides industrial      
burners and energy-related equipment.  The company operates two
main divisions: Furnace division, which provides regenerative
combustion systems, including regenerative combustion industrial
furnace burners, regenerative combustion radiant tube burners,
regenerative combustion raddle burners, radiant combustion
devices, direct heat-treatment burners, flat flame burners,
turndish-heating burners, high-spray burners, low-nitrogen-oxide
radiant tube burners, oxygen burners, flare stack burners and
rotary kiln burners, and Energy division, which provides
cogeneration systems, community energy systems and energy
diagnosis equipment.

Korea Ratings gave the company's convertible bond a BB rating on
Jan. 30, 2007.


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

SOLUTIA INC: CPFilms Closes US$6.95MM Buy of Acquired Technology
----------------------------------------------------------------
Solutia(R) Inc.'s CPFilms(R) business unit has acquired the
customer list, patents, production equipment and certain other
assets of Acquired Technology, Inc. for US$6.95 million.  The
ATI acquisition provides technology to help fuel the growth and
development of CPFilms' broad product portfolio while
immediately adding sales volume in the dyed window film
components segment.

"CPFilms is committed to continuing our strong record of global
growth and market development, and this acquisition will help us
to take an important step in that direction," said Kent Davies,
president of Solutia's CPFilms business.  "CPFilms will continue
to emphasize customer service, quality, and product performance
as we serve ATI's components customers.  In addition, we are
broadening our portfolio of available technologies to drive
window film sales all over the world."

Solutia's CPFilms business is the world's largest producer of
high-quality, after-market window films, which bring benefits
such as comfort, aesthetics, energy savings, and security when
applied to glass.  CPFilms also is a leading supplier of high-
value precision coated films and film components sold to a
variety of industries, and holds market-leading technology
positions in support of both businesses. CPFilms is based in St.
Louis, Mo., with manufacturing facilities in Martinsville, Va.,
Axton, Va., Canoga Park, Calif., and Runcorn, U.K.

Based in Alpharetta, Georgia, ATI specializes in dyeing
polyester film with a proprietary, patented thermosol process.  
ATI was formed in 1991 and has exclusively manufactured dyed
film since its inception.

Dyed film is an important component of finished window film
products and a key segment within CPFilms' Precision Coatings
business.  The ATI acquisition enhances the business' position
as a technology leader and supplier of dyed film while providing
technologies that will allow it to continue to emphasize the
marketing, manufacturing and development of highly-
differentiated branded window films.

Under the purchase agreement, ATI's founders and principal
owners, Tony Mercado and Don Futch, will serve as consultants to
CPFilms following the closing of the transaction.

                     About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in  
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  Solutia
has operations in Malaysia, China, Singapore, Belgium, and
Colombia.  The company and 15 debtor-affiliates filed for
chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No.
03-17949).  When the Debtors filed for protection from their
creditors, they listed US$2,854,000,000 in assets and
US$3,223,000,000 in debts.

Solutia is represented by Richard M. Cieri, Esq., Jonathan S.
Henes, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis
LLP, in New York, as lead bankruptcy counsel, and David A.
Warfield, Esq., and Laura Toledo, Esq., at Blackwell Sanders
LLP, in St. Louis Missouri, as special counsel.  Trumbull Group
LLC is the Debtor's claims and noticing agent.  Daniel H.
Golden, Esq., Ira S. Dizengoff, Esq., and Russel J. Reid, Esq.,
at Akin Gump Strauss Hauer & Feld LLP represent the Official
Committee of Unsecured Creditors, and Derron S. Slonecker at
Houlihan Lokey Howard & Zukin Capital provides the Creditors'
Committee with financial advice. The Official Committee of
Retirees of Solutia, Inc., et al., is represented by Daniel D.
Doyle, Esq., Nicholas A. Franke, Esq., and David M. Brown, Esq.,
at Spencer Fane Britt & Browne, LLP, in St. Louis, Missouri, and
Frank M. Young, Esq., Thomas E. Reynolds, Esq., R. Scott
Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Bankruptcy Court approved the Debtors'
amended Disclosure Statement on Oct. 19, 2007.  A hearing to
consider confirmation of the Debtors' Reorganization Plan is
scheduled for Nov. 29, 2007.


====================
N E W  Z E A L A N D
====================

BELLBIRD INTERNATIONAL: Court to Hear Wind-Up Petition Today
------------------------------------------------------------
The High Court of Whangarei will hear today, November 19, 2007,
at 10:00 a.m., a petition to have Bellbird International Ltd.'s
operations wound up.

The petition was filed by the Commissioner of Inland Revenue on
September 5, 2007.

The CIR's solicitor is:

          P. J. Smith
          Marsden Woods Inskip & Smith
          122 Bank Street
          PO Box 146, Whangarei
          New Zealand


ENERMAX LTD: Subject to Bondor's Wind-Up Petition
-------------------------------------------------
On October 1, 2007, Bondor New Zealand Limited filed a petition
to have Enermax Ltd.'s operations wound up.

The petition will be heard before the High Court of Invercargill
on November 28, 2007, at 10:00 a.m.

Bondor New Zealand's solicitor is:

          L. A. Clement
          PO Box 36636, Merivale
          Christchurch
          New Zealand
          Telephone:(03) 354 2920
          Facsimile:(03) 354 2930


HOME IMPROVEMENTS: Creditors' Proofs of Debt Due Today
------------------------------------------------------
On October 11, 2007, Bryan Edward Williams was appointed
liquidator of Home Improvements Ltd.

Mr. Williams is accepting creditors' proofs of debt until today,  
November 19, 2007.

The Liquidator can be reached at:

          Bryan Edward Williams
          c/o Bryan Williams & Associates
          Insolvency Practitioners
          131 Taupaki Road
          RD 2, Henderson 0782
          New Zealand
          Telephone:(09) 412 9762
          Facsimile:(09) 412 9763


KEL GEDDES: Taps G. Sargison and G. Rea as Liquidators
------------------------------------------------------
Graham Sargison and Gerald Stanley Rea were named liquidators of
Kel Geddes Management Ltd. on October 26, 2007.

Creditors are required to file their proofs of debt by Nov. 27,
2007, to be included in the company's dividend distribution.

The Liquidators can be reached at:

          Graham Sargison
          Gerald Stanley Rea
          Gerry Rea Partners
          PO Box 3015, Auckland
          New Zealand
          Telephone:(09) 377 3099
          Facsimile:(09) 377 3098


LUKE HOLDINGS: Commences Voluntary Liquidation Proceedings
----------------------------------------------------------
On October 23, 2007, members resolved to voluntarily liquidate
Luke Holdings Ltd.'s operations.

Iain Andrew Nellies and Paul William Gerrard Jenkins were
appointed as liquidators.

The Liquidators can be reached at:

          Iain Andrew Nellies
          Paul William Gerrard Jenkins
          c/o Insolvency Management Limited
          Burns House, Level 3
          10 George Street
          PO Box 1058, Dunedin
          New Zealand


PARKWAY PROPERTIES: Appoints Meltzer and Mason as Liquidators
-------------------------------------------------------------  
On October 26, 2007, Jeffrey Philip Meltzer and Rachel Mason
were appointed liquidators of Parkway Properties Ltd.

Creditors who can file their proofs of debt by November 26,
2007, will be included in the company's dividend distribution.

The Liquidators can be reached at:

          Jeffrey Philip Meltzer
          Rachel Mason
          Wellesley Street
          PO Box 6302, Auckland 1141
          New Zealand
          Telephone:(09) 357 6150
          Facsimile:(09) 357 6152


PAUANUI PROPERTIES: Court to Hear Wind-Up Petition on Nov. 22
-------------------------------------------------------------
A petition to have Pauanui Properties Ltd.'s operations wound up
will be heard before the High Court of Auckland on November 22,
2007, at 10:00 a.m.

Graeme Kenneth Atmore filed the petition on July 26, 2007.

Graeme Kenneth's solicitor is:

          Stephen McDonald
          Remuera Chambers, Suite 1
          154-156 Remuera Road
          PO Box 28624, Remuera
          Auckland
          New Zealand


PLUS SMS: Unit's Net Loss Down 50% in First Half of 2007
--------------------------------------------------------
Plus SMS Holdings Limited's subsidiary, CRE8 Limited, disclosed
improved financial results for the six months ended September
2007.

Unaudited results show a positive trend for the CRE8.  Total
revenues increased to NZ$2.70 million, up over 1,000%, and the
net loss for the period of NZ$2.45 million was down 50%,
compared to the first half of 2006.  The balance sheet shows
that the Group has a healthy cash position and almost no debt
with sufficient working capital to be self funding,
notwithstanding potential future acquisitions.

During the first half of the year, CRE8 continued to grow and
generate revenues while posting a sharp reduction in operating
losses.  At the same time, the Company made considerable
investments to strengthen its position in the mobile content and
connectivity services markets.  In particular, considerable
investments were made to support the roll-out of Microsoft's
Live mobile services, which are expected to generate material
revenue in the second half of the year and beyond.

Chief Financial Officer, Les Coates, said "These results
demonstrate that we have positive momentum and are heading in
the right direction.  Our strategy to diversify and establish a
sustainable business is creating long term value for
shareholders."

Chief Executive Officer and Chairman, Christopher Tiensch, added
"In addition to achieving these results, we have also locked in
significant intrinsic future value through major initiatives
that are expected to come to fruition in the second half of the
year."

                          About CRE8

CRE8 (NZAX: PLS) is a subsidiary company of Plus SMS Holdings
Limited.  CRE8 is a provider of content, connectivity, and
network services for mobile operators, brands and media
companies worldwide.

                       About Plus SMS

Plus SMS Holdings Ltd. -- http://www.cre-eight.com/-- is the
parent company of Plus SMS Limited.  It provides access to
businesses to the number ranges required for the routing of
short message service and multimedia messaging system messages
worldwide using a single short number.  On July 4, 2005, Plus
SMS Limited acquired Plus SMS Holdings Limited in a reverse
acquisition.

The company suffered at least two years of consecutive
consolidated net losses: NZ$11,888,229 for the financial year
ended March 31, 2007, and NZ$4,488,542 for the year ended
March 31, 2006.


PLUS SMS: CRE8 Forms Alliance With Mobile Gaming Solutions
----------------------------------------------------------
CRE8 Limited and Mobile Gaming Solutions Plc, a provider of
mobile and interactive TV gaming, entered into a comprehensive
strategic alliance to provide pioneering and first to market
interactive mobile gaming solutions for network operators,
governments and media companies.

The two companies will join forces to facilitate marketing and
sales initiatives and first to market services enabling
companies to offer a range of new mobile gaming services.  The
initiative will integrate Mobile Gaming Solution's patent
protected technology portfolio of mobile lottery and betting
type games, as well as the interactive quizzes and slot
machines, classics such as bingo, casino and favorites like
roulette and poker, with CRE8's operational hub that is
connected to mobile operators and leading media companies in
Latin America.

The mobile gaming market is growing extremely fast, calling for
a complete end-to-end service.  Juniper Research predicts the
market opportunity for mobile gambling will reach NZ$16.6
billion by 2011.  In 2006, the mobile gambling market was worth
nearly NZ$1.4 billion in terms of total wagers placed per year.
Jointly, CRE8 and Mobile Gaming Solutions are well positioned to
address the mobile gaming market and deliver world class
technology and services.

"We are very pleased to have agreed on this strategic alliance
with CRE8.  Our businesses and regional approaches are very
complementary, and the alliance will provide a win-win situation
for both companies.  Together with CRE8, we have access to an
even greater and more attractive customer pool in additional
regional markets than we do already," Juha Kiikeri, the CEO of
Mobile Gaming Solutions commented.

"We are delighted to work together with Mobile Gaming Solutions,
who have a solid track record of innovative and production-
proven mobile gaming solutions used by noteworthy customers. Our
partnership with Mobile Gaming Solutions is a natural next step
as both companies continue to lead the market in their
respective fields," said Christopher Tiensch, Chief Executive
Officer of CRE8.  "This partnership will further enhance both
companies position to deliver world-class gaming services to
customers and increase worldwide presence, which is at the
cornerstone of our cooperation."

                            About CRE8

CRE8 (NZAX: PLS) is a subsidiary company of Plus SMS Holdings
Limited.  CRE8 is a provider of content, connectivity, and
network services for mobile operators, brands and media
companies worldwide.

                          About Plus SMS

Plus SMS Holdings Ltd. -- http://www.cre-eight.com/-- is the
parent company of Plus SMS Limited.  It provides access to
businesses to the number ranges required for the routing of
short message service and multimedia messaging system messages
worldwide using a single short number.  On July 4, 2005, Plus
SMS Limited acquired Plus SMS Holdings Limited in a reverse
acquisition.

The company suffered at least two years of consecutive
consolidated net losses: NZ$11,888,229 for the financial year
ended March 31, 2007, and NZ$4,488,542 for the year ended
March 31, 2006.


SEALEGS INTERNATIONAL: Receives Initial Malaysian Gov't Order
-------------------------------------------------------------
Sealegs International Ltd has received its first direct order
from the Malaysian Government for one of its 6.1m amphibious
marine craft.

The order has been placed by the Fire & Rescue Department of the
Federal Malaysian Government for evaluation and testing prior to
a parliamentary funding request.  The Sealegs amphibious marine
crafts are ideally suited for that application and the initial
order represents a milestone towards the goal of a Sealegs
rescue fleet.

This follows the order of six Sealegs 6.1m rigid inflatable
boats by the Italian Fire Department earlier this year for
deployment in flood prone areas.

Sealegs CEO David McKee Wright says this latest order "continues
to demonstrate the global capability of our amphibious boats
beyond the traditional recreational market."

"Sealegs has gained significant credibility in the recreational
sector both at home and abroad and it is a strong and growing
revenue stream for the business."

"Both our success with the Italian Fire Department and now with
the Malaysian Government for flood relief shows there is a
commercial market for Sealegs. As a result of this latest
commercial opportunity we expect to start licensing the patented
Sealegs solution in order to meet customer specifications and
demand."

Headquartered in Albany, New Zealand, Sealegs Corporation
Limited -- http://www.sealegs.com/-- is engaged in the
manufacture of amphibious marine craft.  The company's wholly
owned subsidiaries are Sealegs International Limited, Sealegs
Middle East Limited, and Sealegs Australia Pty Limited.  Sealegs
International Limited manufactures amphibious marine craft.

Sealegs Middle East Limited and Sealegs Australia Pty Limited
are dormant.  Sealegs are motorized, retractable and steerable
boat wheels, which are fitted to a customized 5.6-meter rigid
inflatable boat.  Sealegs amphibious boats are used by customers
in New Zealand, Australia, the United States, the United Arab
Emirates, France and the United Kingdom.

The group and parent posted consecutive net deficits after
taxation for the years ended March 31, 2006, and 2005, with the
group suffering net losses of NZ$1,211,061 and NZ$1,063,354 for
2006 and 2005 (company: NZ$209,582 and NZ$3,575,464),
respectively.  In FY2007, the company booked a net loss of
NZ$1.05 million.


SRD CONSULTANTS: Fixes Dec. 5 as Last Day to File Proofs of Debt
----------------------------------------------------------------
On October 24, 2007, a special resolution was passed appointing
Curtis John Mountfort as the liquidator for SRD Consultants Ltd.

Mr. Mountfort requires the company's creditors to file their
proofs of debt by December 5, 2007.

The Liquidator can be reached at:

          Curtis John Mountfort
          Mountfort & Associates
          Chartered Accountants
          PO Box 82161, Auckland
          New Zealand
          Telephone:(09) 272 2241
          Facsimile:(09) 272 2251


SUPREME ACCOMMODATION: Wind-Up Petition Hearing Set for Nov. 26
---------------------------------------------------------------
On October 9, 2007, Benjamin John Ridler filed a petition to
have Supreme Accommodation Ltd.'s operations wound up.

The petition will be heard before the High Court of New Plymouth
on November 26, 2007, at 10:00 a.m.

The Petitioner's solicitor is:

          A. R. Laurenson
          Govett Quilliam
          1 Dawson Street
          New Plymouth
          New Zealand


WOOLTECH INDUSTRIES: Shareholders Decide to Wind Up Operations
--------------------------------------------------------------
On October 18, 2007, the shareholders of Wooltech Industries
Ltd. passed a resolution to have Wooltech Industries Limited's
operations wound up.

Trevor Edwin Laing was appointed as liquidator.

The Liquidator can be reached at:

          Trevor Laing
          Trevor Laing & Associates
          PO Box 2468, Dunedin
          New Zealand
          Telephone:(03) 454 4559


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

MIRANT CORP: Mirant Lovett Files September 2007 Operating Report
----------------------------------------------------------------

                       Mirant Lovett, LLC
                   Consolidated Balance Sheet
                    As of September 30, 2007

ASSETS

Unrestricted Cash                                        US$288
Restricted cash                                       7,031,971
                                                    -----------
Total cash                                            7,032,259
                                                    -----------
Accounts receivable (net)                             8,422,724
Inventory                                            11,761,173
Notes receivable                                              -
Prepaid expenses                                              -
Other                                                 9,989,696
                                                    -----------
   Total current assets                              37,205,852
                                                    -----------
Property, plant & equipment                          10,577,708
Less: accumulated depreciation/depletion             (3,327,762)
                                                    -----------
Net property, plant & equipment                       7,249,946

Due from insiders                                             -
Other assets, net of amortization                             -
Other restricted cash                                 6,231,583
                                                    -----------
   TOTAL ASSETS                                   US$50,687,381
                                                    ===========

LIABILITIES AND EQUITY

Postpetition Liabilities:
   Accounts payable                                   9,004,611
   Taxes payable                                             83
   Notes payable                                              -
   Professional fees                                          -
   Secured debt                                               -
   Other                                              8,646,344
                                                    -----------
     Total postpetition liabilities                  17,651,038

Prepetition Liabilities:
   Secured debt                                               -
   Priority debt                                              -
   Unsecured debt                                             -
   Other liabilities subject to compromise                    -
                                                    -----------
     Total prepetition liabilities                            0
                                                    -----------
   TOTAL LIABILITIES                                 17,651,038

EQUITY
Additional paid in capital                          238,362,260
Retained earnings                                  (205,325,917)
Direct charges to equity                                      -
                                                    -----------
   Total equity                                      33,036,343
                                                    -----------
   TOTAL LIABILITIES & OWNERS' EQUITY             US$50,687,381
                                                    ===========


                      Mirant Lovett, LLC
                Consolidated Statements of Income
                 Month Ended September 30, 2007

REVENUES

   Gross Revenues                                 US$28,621,647
   Less: returns & discounts                                  -
                                                    -----------
     Net revenue                                     28,621,647

COST OF GOODS SOLD:
   Material                                          12,950,877
   Direct labor                                               -
   Direct overhead                                            -
                                                    -----------
     Total cost of goods sold                        12,950,877

     Gross margin                                    15,670,770

OPERATING EXPENSES:
   Officer / insider compensation
   Selling & marketing                                        -
   General & administrative                                   -
   Operating & maintenance                           14,421,590
   Other                                                      -
                                                    -----------
     Total operating expenses                        14,421,590
                                                    -----------
     Income before non-operating                      1,249,180
     Income & expense                  

OTHER INCOME & EXPENSES:
   Non-operating income                                       -
   Non-operating expense                                      -
   Interest expense                                     168,822
   depreciation / depletion                           2,081,938
   Amortization                                               -
   Other                                                 (8,394)
                                                    -----------
     Net other income & expenses                      2,242,366

REORGANIZATION EXPENSES:
   Professional fees                                          -
   U.S. trustee fees                                          -
   other                                                 84,487
                                                    -----------
     total reorganization expenses                            -
   income tax                                                 -
                                                    -----------
     NET PROFIT (LOSS)                             US$1,077,673
                                                    ===========

                       Mirant Lovett, LLC
         Unconsolidated Cash Receipts and Disbursements
                  Month Ended September 30, 2007

Cash, beginning of month                          US$10,272,627

Cash sales                                                    -

Collection of accounts receivable
   Prepetition                                                -
   Postpetition                                               -
                                                    -----------
     Total operating receipts                                 -

   Non - operating receipts
     Loans & advances                                (5,884,224)
     Sale of assets                                           -
     Other                                              177,431
                                                    -----------
     Total non-operating receipts                     5,706,792
                                                    -----------
     Total receipts                                   5,706,792
                                                    -----------
     Total cash available                             4,565,835

Operating disbursements
   Collateral deposits                              (31,929,124)
   Construction wip                                           -

   Debt expense                                               -
   Employee related insurance                                 -
   Operating and maintenance                         29,212,988
   Outside services employed
   Steam power expenses                                       -
   Taxes                                                      -
   Trading expense                                            -
   Other                                                250,000
                                                    -----------
     Total operating disbursements                   (2,466,136)

Reorganization expenses                                       -
                                                    -----------
     Total disbursements                              2,466,136
                                                    -----------
Net cash flow                                        (3,240,656)
                                                    -----------
Cash, end of month                                 US$7,031,971
                                                    ===========

Headquartered in Atlanta, Georgia, Mirant Corporation (NYSE:
MIR) -- http://www.mirant.com/-- is an energy company that
produces and sells electricity in North America, the Caribbean,
and the Philippines.  Mirant's investments in the Caribbean
include three integrated utilities and assets in Jamaica, Grand
Bahama, Trinidad and Tobago and Curacao.  Mirant owns or leases
more than 18,000 megawatts of electric generating capacity
globally.

Mirant Corporation filed for chapter 11 protection on July 14,
2003 (Bankr. N.D. Tex. 03-46590), and emerged under the terms of
a confirmed Second Amended Plan on Jan. 3, 2006.  thomas E.
Lauria, Esq., at White & Case LLP, represented the Debtors in
their successful restructuring.  When the Debtors filed for
protection from their creditors, they listed $20,574,000,000 in
assets and $11,401,000,000 in debts.  The Debtors emerged from
bankruptcy on Jan. 3, 2006.  On March 7, 2007, the Court entered
a final decree closing 46 Mirant cases.

Mirant NY-Gen LLC, Mirant Bowline LLC, Mirant Lovett LLC, Mirant
New York Inc., and Hudson Valley Gas Corporation, were not
included.  On Feb. 15, 2007, Mirant NY-Gen filed its Chapter 11
Plan of Reorganization and on Feb. 22 filed a Disclosure
Statement explaining that Plan.  The Court approved the adequacy
of Mirant NY-Gen's Disclosure Statement on March 22, 2007, and
confirmed the Amended Plan on May 7, 2007.  Mirant NY-Gen
emerged from chapter 11 on May 7, 2007.

On July 13, 2007, Mirant Lovett filed its Chapter 11 Plan of
Reorganization.  The Court confirmed Mirant Lovett's Plan on
Sept. 19, 2007.  Mirant Lovett emerged from bankruptcy on Oct.
2, 2007.

(Mirant Bankruptcy News, Issue No. 133; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                         *     *     *

As reported in the Troubled Company Reporter on Nov. 14, 2007,
Fitch Ratings has removed Mirant Corp. (Issuer Default Rating
'B+') and subsidiaries from Rating Watch Negative and assigned a
Stable Rating Outlook following the company's announcement that
it has concluded its strategic review process.  No sale of MIR,
its subsidiaries or its assets is expected.  The Rating Watch
Negative reflected Fitch's concern about the company's strategic
and financial direction.  Specifically, Fitch was concerned that
any third party acquisition of MIR would be financed by
additional debt at MIR and its subsidiaries.  Approximately
US$3.1 billion of debt is affected.


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

ATOP HOLDINGS: Court to Hear Wind-Up Petition on Nov. 30
--------------------------------------------------------
A petition to have Atop Holdings Pte Ltd's operations wound up
will be heard before the High Court of Singapore on November 30,
2007, at 10:00 a.m.

Transpac Capital Pte Ltd filed the petition on November 5, 2007.

Transpac Capital's solicitors are:

          Rajah & Tann
          4 Battery Road
          #15-01 Bank of China Building
          Singapore 049908


FREESCALE SEMI: Joins SPIRIT Consortium Board of Directors
----------------------------------------------------------
Freescale Semiconductor has joined The SPIRIT Consortium, a
global organization focused on establishing multi-faceted
IP/tool integration standards that drive sustainable growth in
electronic design, as the final member of its Board of
Directors.  Freescale with the original six steering committee
members, ARM, Cadence, Mentor Graphics, NXP Semiconductors , ST
Microelectronics, and Synopsys and together with LSI and Texas
Instruments, completed the organization\u2019s nine-member
Board.

The Board of Directors effectively drives the creation and
adoption of standards for configuring, integrating, and
verifying IP.  Board members vote on all decisions affecting the
direction and provision of deliverables from The SPIRIT
Consortium.  All Consortium members are committed to making
their IP and IP tools interoperable through the adoption and
integration of The SPIRIT Consortium specifications.

The membership of The SPIRIT Consortium includes more than 90
industry-leading EDA, IP providers and systems integrators.  New
Reviewing Members include Barbay Consulting, Future Wireless
Technologies, Gary Stringham & Associates, Jasper Design
Automation, Savant Company, Synfora, Thales Communications S.A.,
and Think Silicon Ltd.

                    Luke Smithwick On Board

Freescale has appointed Luke Smithwick, director of Solution and
Software Technologies, as its representative to the Board.  Mr.
Smithwick has extensive management and technical experience as
an executive at Freescale, Aware, and Globespan Semiconductor,
among others.  In his current position he is responsible for the
definition/implementation of platform-based solutions and
establishing a consistent framework, architecture, and
methodology for solutions.  Mr. Smithwick is in the unique
position within Freescale of working closely with the business
groups and with the other corporate technology teams to help
drive the enhancement of The Consortium\u2019s IP-XACT(TM)
specification to meet various market requirements as well as the
internal adoption and alignment of the specification with
Freescale methodologies.

"Freescale has activities covering every step of the IP design,
integration, production, and application development process
using multiple process architectures.  This puts Freescale in a
unique position to drive, contribute to, and validate
specifications against an end-to-end tool flow," said Ralph von
Vignau, president of The SPIRIT Consortium.  "Freescale has been
an active Contributing member in several working groups to date,
and we look forward to their further contributions."

Freescale is a strong supporter of industry standards. The
company participates in a number of standards activities related
to development, integration and reuse of semiconductor IP as
well as software development and debugging tools.  As a
Contributing Member of The SPIRIT Consortium, Freescale has
already participated in the debug and register debug working
groups, as well as the planning of the proposed documentation
working group.

"Freescale is committed to driving and utilizing standards that
support and enhance our business," said Luke Smithwick, director
of Solution and Software Technologies, Freescale.  "The IP-XACT
specification provides a framework for IP integration and
exchange resulting in higher productivity and quality across the
industry.  We look forward to the opportunity to strengthen our
relationship with The SPIRIT Consortium by contributing to and
promoting this effort."

                    About SPIRIT Consortium

The SPIRIT Consortium -- http://www.spiritconsortium.org/-- is  
a global organization focused on establishing multi-faceted
IP/tool integration standards that drive sustainable growth in
electronic design.  It is comprised of companies dedicated to
the adoption of a unified set of specifications for configuring,
integrating, and verifying IP in advanced SoC design tool sets.  
The Consortium is comprised of leading EDA, IP, system
integration, and semiconductor companies.

                 About Freescale Semiconductor

Based in Austin, Texas, Freescale Semiconductor, Inc. (NYSE:FSL)
(NYSE:FSL.B) -- http://www.freescale.com/-- designs and  
manufactures embedded semiconductors for the automotive,
consumer, industrial, networking and wireless markets.
Freescale Semiconductor became a publicly traded company in July
2004.  The company has design, research and development,
manufacturing or sales operations in more than 30 countries,
including Australia, China, Hong Kong, India, Japan, Korea,
Malaysia, Taiwan and Singapore.   Revenues for the 12
months ended March 31, 2007 were US$6.2 billion.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 20, 2007, Standard & Poor's Ratings Services has placed
its 'BB-' corporate credit rating and other ratings on Freescale
Semiconductor Inc. on CreditWatch with negative implications.

As reported in the Troubled Company Reporter-Latin America on
Oct. 26, 2007, Moody's Investors Service has placed the ratings
of Freescale Semiconductor, Inc. under review for possible
downgrade:

   -- Corporate Family Rating (New), Ba3

   -- Probability of Default Rating, Ba3

   -- US$750 Million Senior Secured Revolving Credit Facility
      due 2012, Baa3 (LGD-2, 16%)

   -- US$3.50 Billion Senior Secured Term Loan B Facility due
      2013, Baa3 (LGD-2, 16%)

   -- US$2.85 Billion Senior Unsecured Notes due 2014, B1
      (LGD-4, 63%)

   -- US$1.50 Billion Senior Unsecured Toggle Notes due 2014,
      B1 (LGD-4, 63%)

   -- US$1.60 Billion Senior Subordinated Unsecured Notes due
      2016, B2 (LGD-6, 91%)


KIM HUAT: Wind-Up Hearing Set for Nov. 23
-----------------------------------------
On November 2, 2007, Johnson Controls (S) Pte Ltd filed a
petition to have Kim Huat Refrigeration and Electrical Pte Ltd's
operations wound up.

The petition will be heard before the High Court of Singapore on
November 23, 2007.

Johnson Controls' solicitors are:

          Sim Mong Teck & Partners
          7500A Beach Road
          #09-301/302 The Plaza
          Singapore 199591


RED HAT: Teams Up with Platform Computing to Offer HPC Solution
---------------------------------------------------------------
Red Hat has inked an agreement with Platform Computing, the
global leader in High Performance Computing infrastructure
software, to jointly offer a new product, the Red Hat HPC
Solution, that fully integrates Platform's Open Cluster Stack1
with Red Hat Enterprise Linux.  The new offering provides users
with an end-to-end solution with a range of tools necessary to
deploy and manage an HPC cluster in a wide range of
environments, from SMB to Enterprise, while offering competitive
pricing and outstanding performance.

Businesses are increasingly utilizing HPC clusters to gain a
competitive edge; the new Red Hat HPC Solution allows users to
deploy their HPC applications in a more cost-effective manner,
while providing tools in a single, easy-to-deploy package.  The
Red Hat solution incorporates the operating system, device
drivers, cluster installer, resource and application monitor and
job scheduler for every node in the cluster.

The integrated HPC software stack includes Red Hat Enterprise
Linux, the world's leading open source operating system,
designed to deliver maximum application performance using
today's low-cost, industry-standard systems.  The solution also
incorporates the device drivers and interconnect support
necessary for efficiently running a high-performance cluster,
and also includes Platform's Lava-based job scheduler to rapidly
schedule user workloads.  All of the components, supported by
Red Hat's global 24x7 enterprise-level services, are delivered
in one product, reducing the complexity and time needed to set
up and optimize an HPC cluster.

\u201cPlatform\u2019s 15 years of expertise deploying high-
performance clusters, combined with the performance and
stability of Red Hat Enterprise Linux, provide a perfect
technology match for customers looking for an HPC
solution,\u201d said Paul Cormier, executive vice president,
Worldwide Engineering at Red Hat.  \u201cThis agreement also
enables us to tailor our existing enterprise solutions for
smaller-sized customers, so this new and rapidly growing HPC
market can enjoy the benefits of open source software.\u201d

"Platform is excited to partner with Red Hat to reach new
markets for HPC solutions," said Songnian Zhou, CEO, Platform
Computing. "Organizations from Enterprise to SMB will be able to
adopt open source solutions that are fully supported and easy to
use.  This agreement supports Platform's strategy to enable
organizations to improve time to results and reduce computing
costs when deploying cluster and grid software solutions."

The Red Hat HPC Solution has completed certification on a range
of hardware platforms and will be available at the end of 2007.

                    About Platform Computing

Platform Computing -- http://www.platform.com/-- is a pioneer  
and the global leader in High Performance Computing
infrastructure software.  The company delivers integrated
software solutions that enable organizations to improve time-to-
results and reduce computing costs.  Many of the world\u2019s
largest companies rely on Platform for workload management and
cluster and grid management.  Platform has over 2,200 global
customers and strategic relationships with Dell, HP, IBM, Intel,
Microsoft, Red Hat and SAS, along with the industry\u2019s
broadest support for HPC applications. Building on 15 years of
market leadership, Platform continues to define the HPC market.

                        About Red Hat

Headquartered in Raleigh, North Carolina Red Hat, Inc. --
http://www.redhat.com/-- is an open source and Linux provider.  
Red Hat provides operating system software along with
middleware, applications and management solutions.  Red Hat also
offers support, training, and consulting services to its
customers worldwide and through top-tier partnerships.

The company has offices in Singapore, Germany, and Argentina,
among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 19, 2007, Standard & Poor's Ratings Services has revised
its outlook on Red Hat Inc. to positive from stable and affirmed
the ratings, including the 'B+' corporate credit rating.


SILKROUTE VENTURES: Sets Dec. 16 Claims Bar Date
------------------------------------------------
The creditors of Silkroute Ventures Pte Ltd are required to file
their proofs of debt by December 16, 2007, to be included in the
company's dividend distribution.

The company's liquidators are:

          Kon Yin Tong
          Wong Kian Kok
          Aw Eng Hai
          c/o 47 Hill Street #05-01
          Singapore Chinese Chamber of
          Commerce & Industry Building
          Singapore 179365


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

ARVINMERITOR INC: Declares US$0.10 Quarterly Dividend
-----------------------------------------------------
The ArvinMeritor Inc. Board of Directors, at a meeting held on
Nov. 13, 2007, at its corporate headquarters in Troy, Mich.,
declared a quarterly dividend of US$0.10 per share on the common
stock of ArvinMeritor, payable Dec. 10, 2007, to holders of
record at the close of business on Nov. 26, 2007.

The company also disclosed Wednesday that its annual
shareowners' meeting will be held on Jan. 25, 2008, at 9 a.m.
EST, at its Troy, Mich. headquarters.  Shareowners of record at
the close of business on Nov. 23, 3007, will be entitled to
notice of, and to vote, at the annual meeting.

                     About Arvinmeritor

Headquartered in Troy, Michigan, ArvinMeritor Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,      
modules and components to the motor vehicle industry.  The
company serves commercial truck, trailer and specialty original
equipment manufacturers and certain aftermarkets, and light
vehicle manufacturers.  ArvinMeritor employs about 29,000 people
at more than 120 manufacturing facilities in 25 countries.  
These countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 9, 2007,
Fitch Ratings downgraded its ratings on ArvinMeritor Inc.
including Issuer Default Rating to 'BB-' from 'BB'; Senior
secured revolver to 'BB' from 'BB+'; and Senior unsecured notes
to 'B+' from 'BB-'.  The rating outlook is negative.

Standard & Poor's Ratings Services lowered its corporate credit
rating and related ratings on ArvinMeritor Inc. to 'B+' from
'BB-'.  The outlook is negative.  
      
Moody's Investors Service downgraded ArvinMeritor's Corporate
Family Rating to B1 from Ba3 and maintained the outlook at
stable.  Moody's also lowered its ratings on the company's
secured bank obligations (to Ba1, LGD-1, 8% from Baa3, LGD-2,
13%) and unsecured notes (to B2, LGD-4, 63% from B1, LGD-4,
63%).  The Probability of Default is changed to B1 from Ba3,
while the company's Speculative Grade Liquidity rating remains
SGL-2.  The outlook is stable.


ARVINMERITOR INC: Posts US$62 Million Net Loss in Fourth Quarter
----------------------------------------------------------------
ArvinMeritor Inc. reported Wednesday financial results for its
full fiscal year and fourth quarter ended Sept. 30, 2007.

The company reported a net loss of US$62 million for the fourth
quarter ended Sept. 30, 2007, compared with a net loss of
US$274 million for the same period in fiscal year 2006.

For the fourth quarter of fiscal year 2007, ArvinMeritor posted
sales of US$1.6 billion, flat over the same period last year.  
Sales reflect the continued downturn in Class 8 North American
truck sales offset by stronger volumes in other regions.

Operating income in the fourth quarter of 2007, before special
items, was US$8 million, compared to operating income, before
special items, of US$56 million in the prior year's fourth
quarter.

Loss from continuing operations during the fourth quarter of
fiscal year 2007, before special items, was US$4 million,
compared to income from continuing operations, before special
items, of US$29 million a year ago.  Fourth-quarter results
reflect reduced North American volumes and significant premium
costs associated with record European volumes.

Special items included costs associated with supplier
reorganizations, restructuring expenses and certain non-
recurring tax charges.  

For the fourth quarter of 2007, ArvinMeritor reported positive
free cash flow of US$178 million.

"Despite the solid progress we are making in implementing our
strategic initiatives, our results this quarter were negatively
impacted by weaker than anticipated North American truck
production and the continuing capacity challenges in our
European truck operations," said chairman, chief executive
officer and president Chip McClure.  "Going forward, we believe
European capacity issues will be less severe due to actions we
are taking to implement lean manufacturing improvements and
bring new suppliers into the pipeline.

"Following this period of extended softness in the North
American truck market, we expect to see a rebound as the
industry gradually returns in 2008.  In Europe, we look forward
to continued strong sales volumes, and in Asia and South
America, we expect volumes to grow significantly."

Sales from continuing operations for fiscal year 2007 were
US$6.4 billion, up US$34 million, compared to fiscal year 2006.
   
On a GAAP basis, net loss was US$219 million, compared to a net
loss of US$175 million in fiscal tear 2006.  Loss from
continuing operations was US$30 million, compared to income from
continuing operations of US$112 million in fiscal year 2006.

Net debt was reduced by US$146 million during the fiscal year
despite negative free cash flow of US$113 million.

At Sept. 30, 2007, the company's consolidated balance sheet
showed US$4.789 billion in total assets, US$4.181 billion in
total liabilities, US$65 million in minority interests, and
US$543 million in shareowners' equity.

                        About Arvinmeritor

Headquartered in Troy, Michigan, ArvinMeritor Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,      
modules and components to the motor vehicle industry.  The
company serves commercial truck, trailer and specialty original
equipment manufacturers and certain aftermarkets, and light
vehicle manufacturers.  ArvinMeritor employs about 29,000 people
at more than 120 manufacturing facilities in 25 countries.  
These countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 9, 2007,
Fitch Ratings downgraded its ratings on ArvinMeritor Inc.
including Issuer Default Rating to 'BB-' from 'BB'; Senior
secured revolver to 'BB' from 'BB+'; and Senior unsecured notes
to 'B+' from 'BB-'.  The rating outlook is negative.

Standard & Poor's Ratings Services lowered its corporate credit
rating and related ratings on ArvinMeritor Inc. to 'B+' from
'BB-'.  The outlook is negative.  
      
Moody's Investors Service downgraded ArvinMeritor's Corporate
Family Rating to B1 from Ba3 and maintained the outlook at
stable.  Moody's also lowered its ratings on the company's
secured bank obligations (to Ba1, LGD-1, 8% from Baa3, LGD-2,
13%) and unsecured notes (to B2, LGD-4, 63% from B1, LGD-4,
63%).  The Probability of Default is changed to B1 from Ba3,
while the company's Speculative Grade Liquidity rating remains
SGL-2.  The outlook is stable.





                            *********


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-
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Elaine Tumanda, Valerie Udtuhan, Tara Eliza Tecarro, Freya
Natasha Fernandez-Dy, Frauline Abangan, and Peter A. Chapman,
Editors.

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