TCRAP_Public/080903.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

            Wednesday, September 3, 2008, Vol. 11, No. 175

                            Headlines

A U S T R A L I A

ABC LEARNING: Completes Sale of UK Voucher Business for GBP90 Mil.
ALLCO: Rubicon Gets Sale Termination Notice From UrbanAmerica
B & F BRICKLAYING: Joint Meeting Slated for September 19
COMPLETE COMMERCIAL: To Declare Dividend on Sept. 11
GODSON-KING & ASSOCIATES: Final Meeting Set for September 12

MATINE LTD: Members' Final Meeting Set for September 7
MINING EQUIPMENT: Members' Final Meeting Set for September 8
MODERN BRICKLAYING: To Declare Dividend on September 8
NATIONAL LEISURE: Posts AU$112 Million Net Loss in FY2008
OPES PRIME: Financiers Move to Strike Out Class Action

PERFORMANCE CARPENTRY: Joint Meeting Slated for September 9
SHARPER IMAGE: Wants to Set Oct. 13 as Admin. Claims Bar Date
SHARPER IMAGE: Court Approves Committee/Joint Venture Settlement
SHARPER IMAGE: Court Okays Settlement of US$3.8MM Quebecor Claim
SHARPER IMAGE: Gift Card Holders Rep. Pursues Conversion Motion

SHARPER IMAGE: Transfers Principal Offices to Walnut Creek
SYDNEY INSTITUTE: To Declare Dividend on September 9
SKIGROUP PTY: Members and Creditors to Meet on September 9
TAK-U-ON PTY: Joint Meeting Slated for September 9


C H I N A

BANK OF COMMUNICATION: 1H Net Profit Up 81% to CNY15.51 Billion
BANK OF COMMUNICAION: Mulls JV with HSBC for Pension Sales
CHINA EASTERN: Nomura Securities Holds "Sell" Rating
NANJING STEEL: Cuts Production by 10% on Low Demand & High Costs
SHANDONG ZHOUYUAN: Incurs US$99,887 Net Loss in 2nd Quarter

SHANDONG ZHOUYUAN: Defaults on US$1,248,581 Loan Obligations
* CHINA: Public Firms' First-Half Profit Slumps


H O N G K O N G

AMAZING DESIGN: Placed Under Voluntary Liquidation
DRAGON FULL: High Court to Hear Wind-Up Petition on September 10
FULLBRIGHT COMPANY: Wind-Up Petition Hearing Set for September 17
GODI ENTERPRISES: Creditors' Meeting Slated for Today
IMTEX COMPANY: Creditors' Proofs of Debt Due on September 30

MAXTOR ASIA: Members to Receive Wind-Up Report on September 30
MING SHING: Court to Hear Wind-Up Petition on September 10
MTB HK: Creditors' Proofs of Debt Due on September 26
P. & M. PROPERTIES: Requires Creditors to File Claims by Sept. 12
ULTRALITE LIMITED: Final Meetings Set for September 30

WING HANG: Fitch Confirms Support Rating Floor 'BB' Rating


I N D I A

ALVAREZ & MARSAL: Hires News Seniors as Part of Int'l Expansion
CINERAD COMMUNICATIONS: Names Abhineet Gupta as Managing Director
CHOKSH INFOTECH: Board Considers Merger Deal With Software Co
GENERAL MOTORS: Deserves US$50BB Gov't-Backed Loans, Mr. Lutz Says
INTENSE TECHNOLOGIES: Proposes Issue of 9,00,000 Equity Warrants

SPICEJET LTD: Board OKs Swapping US$200,000 FCCBs Into Shares


I N D O N E S I A

ANEKA TAMBANG: Revises 2008 Sales Target by 5.8 Percent
MERPATI NUSANTARA: Relocates Headquarters to Makassar
PT PERTAMINA: Subsidiary Inks US$16 Bil. Gas Sale Deal With Medco


J A P A N

FORD MOTOR: District Court Approves VEBA Health Care Trust Fund
SOFTBANK CORP: To Pay JPY2.5/Share Dividend for FY Ending March 09
* JAPAN: Automotive Sales Drop 14.9% in August


K O R E A

CHOROKBAEM MEDIA: Disposes Stake in Korea-based Unit for KRW250MM
CHONGKUNDANG CORP: Wins Patent in Japan


M A L A Y S I A

KOSMO TECHNOLOGY: Incurs MYR2.70MM Net Loss in Qtr. Ended June 30
LITYAN HOLDINGS: Posts MYR1.96 Mil. Net Loss in Qtr. Ended June 30
NIKKO ELECTRONICS: Defaults MYR741.91 Mil. Payment to Maybank
SUNWAY INFRASTRUCTURE: Posts MYR10.14M Net Loss in 4th Qtr. 2008
TECHVENTURE BERHAD: Incurs MYR3.28 Mil. Net Loss in 2nd Qtr. 2008

WWE HOLDINGS: Posts MYR1.08 Mil. Net Loss in Qtr. Ended June 30


N E W  Z E A L A N D

AKAU LIMITED: Liquidators Set September 12 as Claims Bar Date
BLAKE FAMILY: Liquidators Set September 10 as Claims Bar Date
BOTRY-ZEN: Secures New Loan With Bank of New Zealand
CHESILPARK HAWKE'S: Proofs of Debt Due on September 19
D'CLADDINGMAN LTD: Commences Liquidation Proceedings

DIGGERDOG LTD: Proofs of Debt Due on September 11
DORCHESTER: Unit Submits Deferred Repayment Plan to Trustees
ESTABLISHMENT PETONE: Proofs of Debt Due on September 10
HB PROPERTY: Proofs of Debt Due on September 12
MIA HOLDINGS: Proofs of Debt Due on September 12

OPERATORS R: Proofs of Debt Due on September 8
SUPERBOWL LTD: Liquidators Set September 12 as Claims Bar Date
* NEW ZEALAND: Housing Consents Trend Falls Steadily


S I N G A P O R E

DAIKIN INDUSTRIES: Creditors' Proofs of Debt Due on September 29
INSURE SHOP: Creditors' Meeting Set for September 5
NHG GULF: Requires Creditors to File Claims by September 29
YEN KEE: Wind-Up Petition Hearing Set for September 5


T H A I L A N D

* THAILAND: Moody's Sees Stable Ratings Outlook


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                         - - - - -


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

ABC LEARNING: Completes Sale of UK Voucher Business for GBP90 Mil.
------------------------------------------------------------------
ABC Learning Centres Ltd said it has completed the sale of Busy
Bees Childcare Vouchers Limited, its UK voucher business, for
GBP90 million to Computershare Limited,

Proceeds from the transaction will be used to reduce debt under
the company’s syndicated bank facility agreement. Profit from the
sale will be in line with previous guidance.

The company also said that the sale process for the UK nurseries
business is ongoing.

                       Full Year Result

On Aug. 21, 2008, ABC requested a trading halt of its securities
from the Australian Stock Exchange to finalize and provide further
guidance relating to its full year results and prior period
adjustments arising out of a re-assessment of accounting
treatments.

The company said that the trading halt is expected to last until
it is in a position to give guidance or to announce its full year
results whichever is the earlier.

However, on Aug. 29, 2008, ABC said that it is not in a position
to release its 2008 full year result and will not comply with ASX
Listing Rule 4.3.

The company said that the work is currently being performed to
finalize the full year result and prior period adjustments arising
out of a re-assessment of accounting treatments is substantially
concluded and will be finalized as soon as possible.

                        About ABC Learning

A.B.C. Learning Centres Limited (ASX: ABS) --
http://www.childcare.com.au/-- provides childcare services and
education.  The company operates in Australia, New Zealand, the
United States and the United Kingdom.  The company's
subsidiaries include A.B.C. Developmental Learning Centres Pty
Ltd, A.B.C. Early Childhood Training College Pty Ltd, Premier
Early Learning Centres Pty Ltd, A.B.C.  Developmental Learning
Centres (NZ) Ltd., A.B.C. New Ideas Pty. Ltd., A.B.C. Land
Holdings (NZ) Limited and Child Care Centres Australia Ltd.

On September 25, 2006, the company acquired Hutchison Child Care
Services Ltd.  On September 7, 2006, it acquired The Children's
Courtyard LLP.  On December 18, 2006, it acquired Busy Bees
Group Ltd. On January 26, 2007, it acquired La Petite Holdings
Inc.  On February 2, 2007, it acquired Forward Steps Holdings
Ltd.  On March 23, 2007, it acquired Children's Gardens LLP. In
September 2007, the company purchased the Nursery division
(Leapfrog Nurseries) from Nord Anglia Education PLC.

                          *     *     *

As reported by the Troubled Company Reporter-Asia Pacific, the
company's Sydney trading on Feb. 26, 2008, plunged 43% after a
slump in earnings raised concerns it may struggle to repay debt.
The drop to AU$2.14 triggered margin calls on stakes held by
some directors.  Consequently, stock trading was halted as the
company entered talks on "indications of interest" for parts of
its business.  More than 96% of the remaining 21.9 million ABC
Learning shares owned by directors, equivalent to 4.6% of stock
outstanding, are held in margin lending arrangements that may
result in forced sales.


ALLCO: Rubicon Gets Sale Termination Notice From UrbanAmerica
-------------------------------------------------------------
Allco Finance Group-managed Rubicon America Trust said it has
received from UrbanAmerica a notice of termination of the Purchase
and Sale Agreement and that the transaction will not proceed on
the terms previously disclosed.

As reported in the Troubled Company Reporter-Asia Pacific on
July 18, 2008, Rubicon American Trust entered into a purchase and
sale agreement with UrbanAmerica to acquire the GSA I portfolio, a
14 property portfolio covering 3.1 million square feet, for
US$515.0 million.

The sale is conditional upon the completion of due diligence and
assumption of the US$389.0 million senior debt.  As part of the
completion of the transaction, Rubicon will subscribe for
US$30.0 million of preferred equity in UrbanAmerica’s dedicated
ownership vehicle.  The sale is projected to close on Sept. 15,
2008.

It is anticipated that the net proceeds, after providing for
taxes payable, will be applied to reduce Rubicon’s overall
borrowing.

                   About UrbanAmerica

UrbanAmerica was founded in 1998 to acquire Government tenanted
office and national urban retail centres.  UrbanAmerica deployed
its first investment vehicle's equity in acquiring 28 assets or
3.7 million square feet, at a cost of $330 million.  The portfolio
is characterized by strong credit, with state government, medical
and educational institutions comprising the bulk of tenancy in the
office half and grocery and national retailers bolstering the
retail half.  Additionally, UrbanAmerica has a partnership with
Fisher Brothers, which consists of a value added strategy.
UrbanAmerica is poised to acquire over $1 billion in assets across
product type (office, retail and mixed use, including a
residential component) and life cycle(development, repositioning
and stabilized).

                  About Rubicon America

Rubicon America Trust (ASX:RAT)-- http://www.rubiconamerica.com.au
-- is engaged in investing in commercial real estate and
commercial real estate (CRE) loans in the United States.  Rubicon
Asset Management Limited acts as the manager for Rubicon America
Trust.  On Jan. 8, 2007, Rubicon Finance America, a wholly owned
subsidiary of RAT, completed the acquisition of an initial
portfolio of 32 United States real estate asset-backed mezzanine
loans.

                    About Allco Finance

Allco Finance Group Ltd. (ASX: AFG) -- http://www.allco.com.au/
-- is an integrated global financial services business,
specializing in asset origination, funds creation and funds
management.  The company is a fund manager of alternative assets
in its core asset classes, which include aviation, rail,
shipping, infrastructure, property, private equity and financial
assets.  Its primary focus is on commercial property,
predominately completed office buildings and select development
opportunities.  It also purchases new and existing commercial
passenger and cargo aircraft for lease to commercial airlines.
In March 2007, Allco HIT Limited acquired Momentum Investment
Finance Pty Limited, Allco Financial Services and International
Mezzanine Funds Management (Australia) Limited.  The company is
a vendor of Momentum Investment Finance Pty Limited and Allco
Financial Services.  In July 2007, it acquired Allco Equity
Partners Ltd.  In December 2007, it completed the acquisition of
the remaining 79.6% stake of Rubicon Holdings(Aust) Limited.

                       *     *     *

Published reports said that Allco is in the brink of insolvency
and is currently negotiating a new business plan that will avoid
putting its operations in the hands of administrators.

Allco disclosed a Net Loss After Tax of AU$1,731.6 million for the
12 months to June 30, 2008.  The company said this is consistent
with an Australian Stock Exchange (ASX) announcement made on
May  1, 2008, where Allco advised an anticipated loss of in excess
on AU$1.5 billion.  The result follows a critical review
of asset values across the business and primarily reflects non-
cash changes.

The Group was heavily impacted by the deterioration in the
financial markets and the resultant loss of value in recently
acquired businesses with non-cash impairments for goodwill,
management rights, loans and equity accounted investments.


B & F BRICKLAYING: Joint Meeting Slated for September 19
--------------------------------------------------------
B & F Bricklaying Pty Limited will hold a joint meeting for its
members and creditors at 10:00 a.m. on Sept. 19, 2008.  During the
meeting, the company's liquidators, B. H. Allen and P. G. Burton
will provide the attendees with property disposal and winding-up
reports.

The company's liquidators can be reached at:

          Burton Glenn Allen
          Chartered Accountants
          Level 2, 57 Grosvenor Street
          Neutral Bay NSW 2089


COMPLETE COMMERCIAL: To Declare Dividend on Sept. 11
----------------------------------------------------
Complete Commercial Door Services Pty Limited will declare
dividend on Sept. 11, 2008.

Only creditors who were able to file their proofs of debt by
Aug. 26, 2008, will be included in the company's dividend
distribution.

The company's liquidator is:

          Blair Pleash
          Hall Chadwick
          Level 29, St Martins Tower
          31 Market Street
          Sydney NSW 2000


GODSON-KING & ASSOCIATES: Final Meeting Set for September 12
------------------------------------------------------------
Mark Crowther, Godson-king & Associates Pty Ltd's appointed estate
liquidator, will meet with the company's members on Sept. 12,
2008, at 2:00 p.m. to provide them with property disposal and
winding-up reports.

The company's liquidator can be reached at:

          Mark Crowther
          Tait Miller McIntyre & Co
          53 Junction Street
          Nowra NSW 2541


MATINE LTD: Members' Final Meeting Set for September 7
-----------------------------------------------------
S. B. Humphrys, Matine Ltd's appointed estate liquidator, will
meet with the company's members on Sept. 7, 2008, at 10:00 a.m. to
provide them with property disposal and winding-up reports.  The
meeting will be held at Level 7, 20 Hunter Street in Sydney.


MINING EQUIPMENT: Members' Final Meeting Set for September 8
------------------------------------------------------------
Murray Smith, Mining Equipment Company Pty Ltd's appointed estate
liquidator, will meet with the company's members on Sept. 8, 2008,
at 10:00 a.m. to provide them with property disposal and winding-
up reports.

The company's liquidator can be reached at:

          Murray Smith
          McGrathNicol
          Level 31, 60 Margaret Street
          Sydney NSW 2000
          Telephone +61 2 9338 2600
          Website: www.mcgrathnicol.com


MODERN BRICKLAYING: To Declare Dividend on September 8
------------------------------------------------------
Modern Bricklaying NSW Pty Limited will declare dividend on
Sept. 8, 2008.

Only creditors who were able to file their proofs of debt by
Aug. 21, 2008, will be included in the company's dividend
distribution.

The company's liquidator is:

          Ozem Kassem
          Cor Cordis Chartered Accountants
          Level 10, 76-80 Clarence Street
          Sydney NSW 2000
          Telephone: (02) 8221 8433
          Facsimile: (02) 8221 8422


NATIONAL LEISURE: Posts AU$112 Million Net Loss in FY2008
---------------------------------------------------------
National Leisure & Gaming Limited disclosed a consolidated loss
after providing income tax expense of AU$112,623,000 for the year
ended June 30, 2008, compared with a net loss of AU$6,251,000 in
the previous year.

The company's consolidated balance sheet at June 30, 2008, showed
AU$245,471,00 in total assets; AU$215,159,000 in total liabilities
and AU$30,312,000 total stockholders' equity.  At June 30, 2008,
the company's consolidated balance sheet showed strained liquidity
with only AU$13,439,000 in total current assets available to pay
AU$38,050,000 in total current liabilities.

National Leisure said its 2008 financial results were adversely
affected by a number of issues, including:

   * an AU$86.1 million goodwill write down:

     The above AU$86.1 million impairment to the goodwill paid
     on acquisition of the pub portfolio in 2007 is due to a
     combination of internal factors such as the previously
     reported protraction of the rolling out of the capital
     works program to New South Wales venues, as well as
     external factors such as smoking legislation changes,
     increased interest rates, expansion in market
     capitalization rates in the hotel industry, and tax
     increases to specific beverage items.  In addition to
     this, there has also been a measurable contraction in
     household discretionary spending and as a consequence
     therefore, the current and forecast earnings results do
     not support the carrying value of the full amount of
     goodwill pain upon acquisition.

   * amendments to the smoking legislation in NSW effective
     July 3, 2007;

     Without specific reference to NLG's performance, the NSW
     hotel industry as a whole suffered a sever (20%+)
     contraction in gaming revenues as a result of amendments
     to smoking legislation (materially exceeding the industry
     forecasts).  This substantial contraction was further
     exacerbated within NLG's NSW portfolio by virtue of its
     proportionate reliance on gaming revenue to total revenue;
     and by the delay in rolling out a smoking solution or
     Designated Outdoor Smoking Solution (DOSA) to numerous
     hotels throughout the NLG portfolio.

   * substantial delays in venue refurbishment program

     During FY2008 NLG was delayed in commencing and therefore
     completing its scheduled CAPEX works, the outcome of which
     was that EBITDA for FY2008 (which relied upon the completion
     of the CAPEX program) was adversely affected.

                         Debt Facilities

NLG confirms that it continues to enjoy the valued support of its
senior and mezzanine lenders, the BNZA/NAB and TW Hedley,
respectively.

As reported in Troubled Company Reporter-Asia Pacific on July 4,
2008, National Leisure said it has successfully extended its
existing financing facilities, which expired on June 30, 2008,
with Bank of New Zealand Australia (BNZA), a business division of
National Australia Bank Limited, until July 31, 2009.

The company said the extended facilities include approval for
CAPEX facility which, importantly, will allow NLG to continue
its capital works program.

National Leisure had been due to repay around AU$200 million in
loans that expired on June 30, the Australian reported.

According to the report, despite being one of Australia's
largest hotel operators, as well as the largest listed
specialist hotel and gaming operator, NLG's business and share
price have been hit by NSW smoking bans, negative sentiment
towards poker machines and falling hotel values.

In June, the Australian said NLG was forced to slash its
full-year earnings forecast for the third time in less than four
months with projected 2008 financial year EBITDA of only AU$6
million.

NLG recently sold a Port Macquarie tavern leasehold for AU$2.4
million to reduce debt, the Australian added.

Sources told the Australian that with no buyers for the troubled
hotel group, National Australia Bank had no option but to allow
NLG to continue trading.

                      About National Leisure

Based in Melbourne, Australia, National Leisure and Gaming
Limited (ASX:NLG) -- http://www.nationalleisure.com.au/-- is
engaged in the acquisition and operation of leisure and gaming
venues.  It operated four hotels: Shamrock Hotel in Mackay,
Magnums Hotel in Airlie Beach, Wynnum Point Hotel in Brisbane
and Andergrove Tavern in Mackay.  During the fiscal year ended
June 30, 2007, it completed various acquisitions: Gladstone Reef
Hotel Motel, at Gladstone; Blue Pacific Hotel, at Bribie Island;
Hermit Park Hotel, at Townsville; Swell Tavern, at Burleigh
Heads; Sydney portfolio of three hotels at Belmore, Doonside &
Lalor Park; Grant Samuel Laundy Pub Fun portfolio of 10 hotels
in New South Wales and Gaming Asset Management Pty Ltd portfolio
of seven hotels in New South Wales.  On July 13, 2007, it
acquired the leasehold interest of the Iris portfolio of nine
hotels in the western suburbs of Sydney.  On July 9, 2007 and on
July 30 2007, it acquired the leasehold interest of Moonee Beach
Tavern, Coffs Harbour, and Tacking Point Tavern, Port Macquarie.


OPES PRIME: Financiers Move to Strike Out Class Action
------------------------------------------------------
The financier of Opes Prime Group Ltd will ask the Federal Court
today, Sept. 3, 2008, to throw out a AU$100 million-plus class
action launched by Slater & Gordon on behalf of more than 50
clients of Opes Prime, the Australian reports.

According to the report, ANZ Bank and Merrill Lynch lodged
documents for the application Monday, Sept. 1, 2008, ahead of a
scheduled directions hearing this afternoon.

The Australian relates Slater & Gordon launched the case on
May 30, 2008, arguing that Opes clients entered into what they
thought were margin lending agreements, in which they would retain
beneficial ownership of shares pledged as collateral.

The reports says Slater & Gordon lawyers claimed the banks also
knew about Opes's misleading conduct, and should not benefit at
the expense of the broker's clients.

However, the report notes, ANZ hit back saying there was no
evidence to suggest it had actual knowledge of Opes' conduct, and
that the facility agreements between the broker and its customers
could not be construed as a mortgage.

Slater & Gordon (ASX: SGH) is a national law firm established in
1935.  The firm has offices in Melbourne, Sydney, Perth, Brisbane,
Adelaide, Canberra, Parramatta, Newcastle, Wollongong, Erina,
Coffs Harbour, Broken Hill, Morwell, Ballarat, Geelong, Footscray,
Dandenong, Frankston, Werribee, Reservoir, Ringwood, Bunbury,
Nowra, and Southport.

                        About Opes Prime

Opes Prime Group Ltd is an Australian unlisted public company
providing a range of financial services and products for high
net worth individuals, stockbrokers and financial advisors,
asset managers, banks and other firms, both for themselves and
their clients.  The Group conducts business via a number of
operating subsidiaries based in Melbourne, Sydney and Singapore:

   1) Opes Prime Stockbroking Limited is a full Market
      Participant of the Australian Stock Exchange Ltd, and
      holds an Australian Financial Services Licence (#247408)
      which enables it to deal and advise in financial
      services and products to retail and wholesale clients. The
      company was first registered on 10 March 1999, and started
      business with its current shareholders in 2005.  Opes
      Prime Stockbroking is a specialist provider of
      securities lending and equity financing services.  In
      Singapore, the firm operates through Opes Prime Group's
      wholly owned subsidiary, Opes Prime International Pte Ltd.
      In Australia, Opes Prime Stockbroking has granted
      Authorized Representative status to Trader Dealer Pty Ltd,
      an on-line non-advisory trading execution service for the
      semi-professional and professional trader.

   2) Opes Prime Structured Products Pty Ltd develops, manages
      and markets specialized leveraged products for the high
      net worth market, providing outstanding risk protection
      and return potential.

   3) Opes Prime Paradigm Pty Ltd, is a corporate finance and
      advisory firm specializing in small and mid cap stocks.

   4) In Singapore, Opes Prime Asset Management Pte Ltd provides
      specialist hedge fund incubation, advisory and trade
      management services, and Five Pillars Associates Pte Ltd
      provides Islamic finance consultancy.

                        *     *     *

The Troubled Company Reporter-Asia Pacific reported on April 1,
2008, that Opes Prime was placed under receivership after
directors became aware of a number of cash and stock movement
irregularities in relation to a small number of accounts.
Ferrier Hodgson Partners John Lindholm, Peter McCluskey and
Adrian Brown have been appointed Administrators by the directors
of Opes Prime Group Limited and a number of its subsidiaries and
related entities including, Opes Prime Stockbroking Limited.
Initial investigations indicate that the solvency of the
business was under pressure due to a number of major clients not
meeting significant margin calls.  The Administrators are
currently examining the Group's affairs to quantify the likely
liability to OPSL's clients.

At the same time, Sal Algeri and Chris Campbell from the
Deloitte Corporate Reorganisation Group were appointed by a
secured creditor, ANZ Banking Group Ltd., as Receivers and
Managers of Opes Prime Group Ltd, Opes Prime Stockbroking Ltd,
Leveraged Capital Pty Ltd and Hawkswood Investments Pty Ltd.


PERFORMANCE CARPENTRY: Joint Meeting Slated for September 9
-----------------------------------------------------------
Performance Carpentry Australia Pty Limited will hold a joint
meeting for its members and creditors at 9:30 a.m. on Sept. 9,
2008.  During the meeting, the company's liquidator, Peter P.
Krejci, will provide the attendees with property disposal and
winding-up reports.

The company's liquidators can be reached at:

          Peter P. Krejci
          Ferrier Green Krejci Silvia
          Level 13
          1 Castlereagh Street
          Sydney NSW 2000


SHARPER IMAGE: Wants to Set Oct. 13 as Admin. Claims Bar Date
-------------------------------------------------------------
Pursuant to Section 503(a) of the Bankruptcy Code and Rule
3003(c)(3) of the Federal Rules of Bankruptcy Procedure, TSIC,
Inc., fka The Sharper Image Corp., asks the U.S. Bankruptcy Court
for the District of Delaware to set October 13, 2008, as the
deadline for filing administrative expense claims against the
Debtor or its estate arising or accrued from and after the
Petition Date through and including September 1, 2008.

The Debtor proposes to exclude these entities from filing
administrative claims:

   (i) any person or entity who has already properly filed an
       administrative expense claim request with the Court or
       the Court-approved claims agent, Kurtzman Carson
       Consultants LLC;

  (ii) professionals retained by the Debtor or the Official
       Committee of Unsecured Creditors under Sections 327, 328,
       or 1103, and whose administrative expense claim is for
       services performed and reimbursements of expenses
       incurred; and

(iii) the U.S. Trustee.

The Debtor relates any administrative expense claimant asserting
an administrative expense claim will be required to file on or
before the Administrative Claims Bar Date to Kurtzman Carson by
U.S. mail, overnight delivery or hand delivery.

The Administrative Expense Claim Requests must be (i) written in
English, (ii) is denominated in lawful U.S. currency; (iii) sets
forth with specificity the legal and factual basis for the
Administrative Expense Claim; and (iv) has attached supporting
documentation.

The circumstances of the Debtor's Chapter 11 case justify the
setting of the Administrative Claims Bar Date at this time,
Francis A. Monaco, Jr., Esq., at Womble Carlyle Sandridge & Rice,
PLLC, in Wilmington, Delaware, tells the Court.  The Debtor is in
the process of winding down its estate.  To determine whether a
plan of liquidation is feasible or other action necessary, it is
appropriate that the amount of allowed administrative expense
claims be determined, Mr. Monaco says.


SHARPER IMAGE: Court Approves Committee/Joint Venture Settlement
----------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware approved a letter agreement entered into between the
Official Committee of Unsecured Creditors in the bankruptcy case
of TSIC, Inc., fka The Sharper Image Corp., and the joint venture
among Gordon Brothers Retail Partners, LLC, GB Brands, LLC, Hilco
Merchant Resources, LLC, and Hilco Consumer Capital, LLC.

The Committee agreed to refrain from impeding the consummation of
the sale transaction, including, without limitation, the filing or
prosecution of its objection to the sale of the Debtor's assets to
the Joint Venture and the filing or prosecution of an appeal or
motion to reconsider the Sale.  The Committee also agreed to waive
the right to challenge the Joint Venture's conduct during the
auction process or the reduction of its bid.

In return, the Joint Venture agreed to fund a trust account for
the exclusive benefit of the Debtor's general unsecured creditors
in an amount equal to the lesser of (i) US$500,000, and (ii) 10%
of the gross royalties ultimately paid for the period of
January 1, 2009, through December 31, 2009, in connection with the
Intellectual Property acquired from the Debtor in the sale
transaction.

The U.S. Trustee objected to the letter agreement on the
contention that the agreement contravenes the intention of the
Bankruptcy Code generally, and conflicts with the absolute
priority rule specifically.

Judge Gross, in a 14-page opinion, held that a lengthy discussion
of the Settlement's adherence to the absolute priority rule is
neither necessary nor appropriate for the simple reason that the
absolute priority rule is not violated in substance or spirit.
Judge Gross cited that In re Armstrong World Indus., Inc., 432
F.3d 507 (3d Cir. 2005) makes it clear that the absolute priority
rule is violated when a senior class' portion of its share of
estate property is allocated to a junior class over the objection
of an intervening creditor class.  In the Debtor's case, Judge
Gross said he is not dealing with estate property or with
property to which a senior class was entitled or, for that
matter, with a creditor or class of creditors making the payment.

Judge Gross noted that the U.S. Trustee presented no evidence in
support of the objection that the funds the Joint Venture agreed
to pay in the Settlement were otherwise intended for the Debtor's
estate.

Judge Gross said it is satisfied that the Committee's actions in
achieving the Settlement were proper and found that the
Settlement is fair, reasonable, and in the best interest of the
estate.

                Chagrin Withdraws Objection

Chagrin Retail, LLC, withdrew its objection to the Debtor's
proposed assumption and assignment of a nonresidential real
property for the property located at the Eton Chagrin Boulevard
in Woodmere Village, Ohio.

                       *     *     *

At the Debtor's behest, the Court approved the termination
agreements entered into between the Debtor and each of the
landlords for 14 real property leases:

Store No.  Name                         Location
--------   ----                         --------
  220      Alamona Center               Honolulu, HI
  230      North Star Mall              San Antonio, TX
  332      Washington Square            Tigard, OR
  348      Chandler Fashion Center      Chandler, AZ
  261      Tyson Galleria               McLean, VA
  273      Village Corte Madera         Corte Madera, CA
  274      The Fashion Show             Las Vegas, NV
  306      Crabtree Valley Mall         Raleigh, NC
  316      Aventura Mall                Aventura, FL
  317      Cherry Creek Shopping Center Denver, CO
  335      Kierland Commons             Scottsdale, AZ
  349      Bellevue Square              Bellevue, WA
  363      The Mall at Millennia        Orlando, FL
  407      NorthPoint Mall              Alpharetta, GA
  421      Alderwood Mall               Lynwood, WA

The Debtor previously withdrew the sale motion as to the 14
leases pending negotiations of a resolution with the lessors of
the leases who have filed objections to the proposed sale of the
leases.

The Contested Leases were proposed to be assumed by the Debtor
and assigned to American Apparel Retail, Inc.  The Lessors object
to the proposed assumption and assignment on the grounds of,
among other things, adequate assurance of future performance,
changes in the "use" clauses of the contested leases, and
purported disruption of the tenant mix and balance at the
affected retail centers.

               Acting U.S. Trustee Appeals Ruling

Roberta A. DeAngelis, Acting United States Trustee for Region 3,
appealed from Judge Gross' order approving the letter agreement
entered into between the Official Committee of Unsecured
Creditors and the joint venture among Gordon Brothers Retail
Partners, LLC, GB Brands, LLC, Hilco Merchant Resources, LLC, and
Hilco Consumer Capital, LLC.

                   About Sharper Image

Based in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- is a multi-channel specialty
retailer.  It operates in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it is also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D.D., Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP,
serve as the Debtor's lead counsel.  Steven K. Kortanek, Esq.,
and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice,
P.L.L.C., serve as the Debtor's local Delaware counsel.

An Official Committee of UnsecuredCreditors has been appointed in
the case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it listed total assets of
US$251,500,000 and total debts of US$199,000,000.  As of June 30,
2008, the Debtor listed US$52,962,174 in total assets and
US$39,302,455 in total debts.

The Court extended the exclusive period during which the Debtor
may file a Plan through and including Sept. 16, 2008.  Sharper
Image sought and obtained the Court's approval to change its name
to "TSIC, Inc." in relation to an an Asset Purchase Agreement by
the Debtor with Gordon Brothers Retail Partners, LLC, GB Brands,
LLC, Hilco Merchant Resources, LLC, and Hilco Consumer Capital,
LLC.

(Sharper Image Bankruptcy News, Issue No. 19; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SHARPER IMAGE: Court Okays Settlement of US$3.8MM Quebecor Claim
----------------------------------------------------------------
Quebecor World (USA), Inc., asserted a US$3,800,000 claim against
TSIC, Inc., formerly Sharper Image Corporation, on account of
printing services under an amended and restated printing
agreement between the parties dated January 5, 2007.  Quebecor
alleges that its claim is secured by a lien on certain paper,
currently in its possession under the Agreement.  TSIC disputes
Quebecor's lien rights since those lien rights may be avoidable.

TSIC's counsel, Steven K. Kortanek, Esq., at Womble Carlyle
Sandridge & Rice, PLLC, in Wilmington, Delaware, relates that
TSIC and Quebecor engaged in arms-length negotiations and agreed
to sell the Paper for US$460,000 on an agreed-upon basis to a
third-party, free and clear of liens.

The parties agreed that gross proceeds from the sale be allocated
at 80% to Quebecor and 20% to TSIC.

According to Mr. Kortanek, by the stipulation, TSIC will realize
meaningful value on account of its interest in the Paper, while
avoiding the cost and risk associated with litigation.  If
litigated, the dispute may be further complicated by the fact
that both TSIC and Quebecor are debtor-in-possession in separate
Chapter 11 cases, pending in different districts.  If the claim
is not resolved, further discovery, motion practice, and
litigation will likely ensue in both the U.S. Bankruptcy Court
for the District of Delaware, where TSIC filed its Chapter 11
case, and the U.S. Bankruptcy Court for the Southern District of
New York, where Quebecor filed its Chapter 11 case, with
additional expense and delay.

TSIC believes that under relevant circumstances, the terms and
conditions of the stipulation are favorable and in the best
interests of the estate and its creditors.  Accordingly, TSIC
asks the Delaware Court to approve the Stipulation.

A full-text copy of the stipulation with Quebecor is available at
no charge at http://ResearchArchives.com/t/s?317c

                   About Sharper Image

Based in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- is a multi-channel specialty
retailer.  It operates in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it is also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D.D., Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP,
serve as the Debtor's lead counsel.  Steven K. Kortanek, Esq.,
and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice,
P.L.L.C., serve as the Debtor's local Delaware counsel.

An Official Committee of UnsecuredCreditors has been appointed in
the case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it listed total assets of
US$251,500,000 and total debts of US$199,000,000.  As of June 30,
2008, the Debtor listed US$52,962,174 in total assets and
US$39,302,455 in total debts.

The Court extended the exclusive period during which the Debtor
may file a Plan through and including Sept. 16, 2008.  Sharper
Image sought and obtained the Court's approval to change its name
to "TSIC, Inc." in relation to an an Asset Purchase Agreement by
the Debtor with Gordon Brothers Retail Partners, LLC, GB Brands,
LLC, Hilco Merchant Resources, LLC, and Hilco Consumer Capital,
LLC.

(Sharper Image Bankruptcy News, Issue No. 19; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SHARPER IMAGE: Gift Card Holders Rep. Pursues Conversion Motion
---------------------------------------------------------------
Frederic Prohov, as representative of a class of gift card
holders, says that TSIC, Inc., fka The Sharper Image Corp., is in
a precarious financial condition.  He points out, in an amended
bid to convert the Debtor's Chapter 11 bankruptcy case to
Chapter 7, that the Debtor's June 2008 operating report shows that
the Debtor has little if any unrestricted cash and that more than
half of its US$36,403,436 in total current assets consist of
US$7,203,601 in prepaid expenses and US$17,304,554 in deferred or
prepaid income taxes.  He also notes that the operating report
shows more than US$23,000,000 of postpetition debts.

Mr. Prohov maintains that the Debtor's case should be converted
to Chapter 7 so that the Gift Card Holders will not be prejudiced
by natural bias of the Debtor-in-possession and the Official
Committee of Unsecured Creditors who may reduce or eliminate gift
card claims.

                   About Sharper Image

Based in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- is a multi-channel specialty
retailer.  It operates in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it is also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D.D., Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP,
serve as the Debtor's lead counsel.  Steven K. Kortanek, Esq.,
and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice,
P.L.L.C., serve as the Debtor's local Delaware counsel.

An Official Committee of UnsecuredCreditors has been appointed in
the case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it listed total assets of
US$251,500,000 and total debts of US$199,000,000.  As of June 30,
2008, the Debtor listed US$52,962,174 in total assets and
US$39,302,455 in total debts.

The Court extended the exclusive period during which the Debtor
may file a Plan through and including Sept. 16, 2008.  Sharper
Image sought and obtained the Court's approval to change its name
to "TSIC, Inc." in relation to an an Asset Purchase Agreement by
the Debtor with Gordon Brothers Retail Partners, LLC, GB Brands,
LLC, Hilco Merchant Resources, LLC, and Hilco Consumer Capital,
LLC.

(Sharper Image Bankruptcy News, Issue No. 19; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SHARPER IMAGE: Transfers Principal Offices to Walnut Creek
----------------------------------------------------------
Sharper Image Corporation, now known as TSIC, Inc., notifies the
U.S. Bankruptcy Court for the District of Delaware that effective
August 31, 2008, its principal executive offices will be located
at 1255 Treat Boulevard, Suite 300, in Walnut Creek, California,
with telephone number (415) 999-8317 and fax number (925) 472-
6572.

                   About Sharper Image

Based in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- is a multi-channel specialty
retailer.  It operates in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it is also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D.D., Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP,
serve as the Debtor's lead counsel.  Steven K. Kortanek, Esq.,
and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice,
P.L.L.C., serve as the Debtor's local Delaware counsel.

An Official Committee of UnsecuredCreditors has been appointed in
the case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it listed total assets of
US$251,500,000 and total debts of US$199,000,000.  As of June 30,
2008, the Debtor listed US$52,962,174 in total assets and
US$39,302,455 in total debts.

The Court extended the exclusive period during which the Debtor
may file a Plan through and including Sept. 16, 2008.  Sharper
Image sought and obtained the Court's approval to change its name
to "TSIC, Inc." in relation to an an Asset Purchase Agreement by
the Debtor with Gordon Brothers Retail Partners, LLC, GB Brands,
LLC, Hilco Merchant Resources, LLC, and Hilco Consumer Capital,
LLC.

(Sharper Image Bankruptcy News, Issue No. 19; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SYDNEY INSTITUTE: To Declare Dividend on September 9
----------------------------------------------------
Sydney Institute of Health Science Pty Limited will declare
dividend on Sept. 9, 2008.

Only creditors who were able to file their proofs of debt by Aug.
26, 2008, will be included in the company's dividend distribution.

The company's liquidator is:

          Mitchell Ball
          Paladin Partners
          Level 3, 120 Sussex Street
          Sydney NSW 2000
          Telephone: (02) 9290 5300


SKIGROUP PTY: Members and Creditors to Meet on September 9
----------------------------------------------------------
Skigroup Pty Limited will hold a joint meeting for its members and
creditors at 11:00 a.m. on Sept. 9, 2008.  During the meeting, the
company's liquidator, Peter P. Krejci, will provide the attendees
with property disposal and winding-up reports.

The company's liquidators can be reached at:

          Peter P. Krejci
          Ferrier Green Krejci Silvia
          Level 13
          1 Castlereagh Street
          Sydney NSW 2000


TAK-U-ON PTY: Joint Meeting Slated for September 9
--------------------------------------------------
Tak-u-on Pty Limited will hold a joint meeting for its members and
creditors at 10:00 a.m. on
Sept. 9, 2008.  During the meeting, the company's liquidator,
Peter P. Krejci, will provide the attendees with property disposal
and winding-up reports.

The company's liquidators can be reached at:

          Peter P. Krejci
          Ferrier Green Krejci Silvia
          Level 13
          1 Castlereagh Street
          Sydney NSW 2000



=========
C H I N A
=========

BANK OF COMMUNICATION: 1H Net Profit Up 81% to CNY15.51 Billion
---------------------------------------------------------------
Bank of Communications Co Limited's first half profit rose 81% to
CNY15.51 billion (US$2.26 billion) from CNY8.56 billion a year
earlier, boosted by strong growth in net interest income and a
higher contribution from fee-based businesses, The Wall Street
Journal reports.

However, the report relates, the bank said it expects growth to
slow.  "The 80% rise in net profit is unprecedented.  I dare not
say whether it will ever be repeated again.  But I think the high
speed with which net profit grew has already peaked," WSJ cited
Chairman Jiang Chaoliang as saying.

According to WSJ, the eight-percentage-point cut in China's
corporate tax rate, to 25%, this year created a one-time earnings
boost, but the lender now faces a tougher operating environment
amid rising funding costs and the risk of deterioration in asset
quality.

WSJ says the bank reported a 41% increase in net interest income,
to CNY33.1 billion, while net fee and commission income rose 50%
from a year earlier to CNY4.65 billion.

Bank of Communication said it diversified revenue from its
fee-based business by developing custodian, investment banking,
and insurance services, which helped it overcome the effects of a
volatile capital market, the report notes.

The bank had CNY1.22 trillion in outstanding loans at the end of
June, up 13% from CNY1.08 trillion at the end of last year.

The bank said it had US$27 million of bonds issued by U.S.
mortgage giants Fannie Mae and Freddie Mac at the end of June, but
it sold all the debt in July without incurring a loss, WSJ adds.

                   About Bank of Communications

Bank of Communications Co Ltd -- http://www.bankcomm.com/-- is
a commercial bank in the People's Republic of China.  As of
December 31, 2005, the bank had 137 branches and sub-branches,
in addition, to over 2,600 business outlets in China. It also
has its branches in Hong Kong, New York, Tokyo, Singapore and
Seoul.  The bank's business is divided into four segments:
corporate banking, retail banking, treasury and others.  Its
corporate banking business provides products and services to the
corporate customers, such as loans, deposits, bill discounting,
trade finance, fund custody and guarantees.  The retail banking
business provides retail banking products and services to its
retail customers, such as deposits, mortgage loans, debit cards,
credit cards, wealth management and foreign exchange trading
services.  The treasury operations include inter-bank money
market transactions, foreign exchange trading and government,
and finance bond trading and investment.

The bank carries Fitch Rating's 'D' individual rating effective
November 21, 2005.

On May 4, 2007, as part of the application of its refined joint
default analysis and updated bank financial strength rating
methodologies, Moody's Investors Service affirmed Bank of
Communications' D Bank Financial Strength Rating.


BANK OF COMMUNICAION: Mulls JV with HSBC for Pension Sales
----------------------------------------------------------
Bank of Communications Co. Ltd (BoCom) and HSBC are planning to
set up a joint venture to sell pensions, Telegraph News reports.

HSBC, the report recounts, bought a stake in Bank of Communication
in 2004 and raised its holding to 19% in 2007.

BoCom chairman Jiang Chaoliang told the news agency that, "We are
in the process of setting up the pension venture with HSBC.  There
will be only two shareholders in the venture, BoCom and HSBC."

According to the report, analysts believe bringing together a
Western bank's expertise in an undeveloped area with a local
player has considerable potential, but it also takes a significant
amount of senior management time, and can lead to tensions in the
future when the native bank wants to unravel the relationship
because it feels it can go it alone.

                  About Bank of Communications

Bank of Communications Co Ltd -- http://www.bankcomm.com/-- is
a commercial bank in the People's Republic of China.  As of
December 31, 2005, the bank had 137 branches and sub-branches,
in addition, to over 2,600 business outlets in China. It also
has its branches in Hong Kong, New York, Tokyo, Singapore and
Seoul.  The bank's business is divided into four segments:
corporate banking, retail banking, treasury and others.  Its
corporate banking business provides products and services to the
corporate customers, such as loans, deposits, bill discounting,
trade finance, fund custody and guarantees.  The retail banking
business provides retail banking products and services to its
retail customers, such as deposits, mortgage loans, debit cards,
credit cards, wealth management and foreign exchange trading
services.  The treasury operations include inter-bank money
market transactions, foreign exchange trading and government,
and finance bond trading and investment.

The bank carries Fitch Rating's 'D' individual rating effective
November 21, 2005.

On May 4, 2007, as part of the application of its refined joint
default analysis and updated bank financial strength rating
methodologies, Moody's Investors Service affirmed Bank of
Communications' D Bank Financial Strength Rating.


CHINA EASTERN: Nomura Securities Holds "Sell" Rating
----------------------------------------------------
Nomura Securities has reiterated the "sell" rating for China
Eastern Airlines, adjusting down its reasonable H-share price from
HK$1.8 to HK$1.07, Xinhua News reports.

The report relates that an analyst with Nomura Securities pointed
out that China Eastern's mid-term performance was disappointing.
The airlines' performance in the second half is expected to be
weaker under the influence of constant high oil price and slowing
down of RMB appreciation, the report notes.

According to the report, Nomura Securities expected China Eastern
to incur loss of CNY799 million in the whole year of 2008.

Meanwhile, Nomura predicted that if the Chinese currency stops
appreciating next year, book value of China Eastern is likely to
turn negative, the report adds.

Headquartered in Shanghai, China, China Eastern Airlines
Corporation Limited's -- http://www.ce-air.com-- principal
activity is operation of domestic and international commercial
air transportation.  The Group also is involved in the common
aircraft industry.  Other activities include general aviation,
air catering, advertisement, import and export, equipment
manufacturing, real estate, hotel business, finance and
training.  The fleet includes more than 60 large and medium size
airplanes, Airbus and Boeing mostly.  Its operation centering
from Shanghai to the whole People's Republic of China and
linking to Asia, Europe, America and Australia.

                          *     *     *

China Eastern continues to carry Fitch Ratings' B+ foreign
currency and local currency issuer default ratings, and Xinhua
Far East China Ratings' BB+ issuer credit rating with a stable
outlook.


NANJING STEEL: Cuts Production by 10% on Low Demand & High Costs
----------------------------------------------------------------
Nanjing Iron & Steel United Co. Ltd. has cut production by 10%
from August because of weaker demand and higher raw-material
costs, Helen Yuan of Bloomberg News reports.

Nanjing, China-based Nanjing Iron & Steel United Co.,Ltd. --
http://www.600282.net/-- is primarily engaged in the smelting
and processing of ferrous metal and the production and sale of
steel products, coke and coke by-products.  Its major iron and
steel products consist of steel plates, steel bars, steel bands,
billets and pig iron.

                          *     *     *

The company continues to carry Xinhua Far East China Ratings' BB+
issuer credit rating.


SHANDONG ZHOUYUAN: Incurs US$99,887 Net Loss in 2nd Quarter
-----------------------------------------------------------
Shandong Zhouyuan Seed and Nursery Co. Ltd.'s net loss for the
three months ended June 30, 2008, decreased by 73% to US$99,887
from a net loss of US$367,958 for the three months ended June 30,
2007.

Revenues for the current quarter were US$541,636 compared to
US$270,413 for the quarter ended June 30, 2007, an increase of
US$271,223, or 100%.  The company attributed the increase to an
increase in sales of seeds with plant variety protections which
has a higher profit margin.

Cost of sales increased by 71% from US$231,086 for the three
months ended June 30, 2007 to US$395,188 for the three months
ended June 30, 2008 primarily from the increase in volume of seeds
sold.

Operating expenses decreased by 47% from US$398,562 for the three
months ended June 30, 2007 to US$209,463 for the three months
ended June 30, 2008 because the Company incurred no judgment
expense for the three months ended June 30, 2008.

                  Liquidity and Capital Resources

Shandong Zhouyuan's balance sheet as of June 30, 2008, showed
total assets of         US$3,777,276, total liabilities of
US$3,305,185 and stockholders’ equity of US$472,091.

As of June 30, 2008, the company had US$562,803 in total current
assets versus
US$2,843,276 in total current liabilities resulting in a working
capital deficit of US$2,280,473.  Cash at June 30, 2008 was
US$186,876.

As of June 30, 2008, the company had US$186,876 in liquid assets
and US$27,926 in accounts receivable (net of allowance).

Net cash provided by operating activities was US$397,026 for the
six months ended June 30, 2008 compared to a net loss of US$92,158
for the six months ended June 30, 2007.  The increase is primarily
related to an increase in sales.

Net cash used in investing activities was US$741 for the six
months ended June 30, 2008 compared to US$86,089 for the same
period in 2007.

Net cash used by financing activities was US$244,942 for the six
months ended June 30, 2008 compared to US$30,426 in net cash used
in financing activities for the same period in 2007.  The increase
in net cash used is primarily due to payback of bank loans.

                     About Shandong Zhouyuan

Headquartered in Laizhou, China, Shandong Zhouyuan Seed and
Nursery Co., Ltd. (Zhouyuan), formerly Pingchuan Pharmaceuticals,
Inc. -- http://www.chinaseedcorp.com/-- is a holding company with
one active subsidiary: Infolink Pacific Limited.  Zhouyuan is
engaged in the business of developing and distributing
agricultural seeds in the People’s Republic of China.  Zhouyuan
has approval from several Provincial governments to market a
variety of seeds.  Its primary product is corn seed, including
both corn intended for forage and corn with a high starch content
for use in industrial food production.  In addition, Zhouyuan
markets varieties of wheat seeds and cabbage seeds.  On January
30, 2007, the Company acquired ownership of Infolink Pacific
Limited.  Subsequently the Company terminated the pharmaceutical
consulting business that had been carried by its subsidiary,
Heilongjiang Pingchuan Yi Liao Qi Xie You Xian Gong Si.  On April
2, 2007, it changed its name to Shandong Zhouyuan Seed and Nursery
Co., Ltd.


SHANDONG ZHOUYUAN: Defaults on US$1,248,581 Loan Obligations
------------------------------------------------------------
Shandong Zhouyuan Seed and Nursery Co. Ltd. disclosed in a
regulatory filing that
the company is in default on bank loans and interest payments
totaling US$1,248,581 and negotiations are ongoing with respect to
a restructuring of the debt.

The company warns that it cannot sustain operations for any
significant period of time unless it obtains additional capital.

Should it fail to achieve a restructuring of its debt, the company
said it may sell its real property, which will have the effect of
eliminating the revenue stream that it obtains by leasing a
portion of the property.

In addition, the company said the sale will necessitate that the
company itself commence payment of lease fees which would cause a
further deterioration of its financial results.

Headquartered in Laizhou, China, Shandong Zhouyuan Seed and
Nursery Co., Ltd. (Zhouyuan), formerly Pingchuan Pharmaceuticals,
Inc. -- http://www.chinaseedcorp.com/-- is a holding company with
one active subsidiary: Infolink Pacific Limited.  Zhouyuan is
engaged in the business of developing and distributing
agricultural seeds in the People’s Republic of China.  Zhouyuan
has approval from several Provincial governments to market a
variety of seeds.  Its primary product is corn seed, including
both corn intended for forage and corn with a high starch content
for use in industrial food production.  In addition, Zhouyuan
markets varieties of wheat seeds and cabbage seeds.  On January
30, 2007, the Company acquired ownership of Infolink Pacific
Limited.  Subsequently the Company terminated the pharmaceutical
consulting business that had been carried by its subsidiary,
Heilongjiang Pingchuan Yi Liao Qi Xie You Xian Gong Si.  On April
2, 2007, it changed its name to Shandong Zhouyuan Seed and Nursery
Co., Ltd.



* CHINA: Public Firms' First-Half Profit Slumps
-----------------------------------------------
Chinese companies' first half profit growth slumped as material
costs rose and government measures to tame inflation curbed
economic expansion, Zhang Shidong of Bloomberg news reports,
citing stock exchange data.

According to the report, net income at 863 companies listed in
Shanghai and 488 on the Shenzhen bourse rose on average by 16% in
the first six months of 2008, compared with earnings growth of 69%
for Shanghai and 99% for Shenzhen in the first half of 2007.

The report says China's benchmark CSI 300 Index, slid 3.5% to
2,309.17 Monday, bringing this year's decline to 57%.  The measure
has dropped to 16 times earnings from 53 times at the peak in
October.

"The results are an actual reflection of the deceleration in
economic growth.  Investors aren't optimistic about the outlook
for third-quarter earnings,"  Bloomberg news cited Yan Ji, an
investment manager at HSBC Jintrust Fund Management Co. in
Shanghai, as saying.

The slowdown in earnings growth came even after the government cut
the corporate tax rate to 25% from 33% starting this year, the
report notes.

Wu Youhui, a strategist at Guangzhou- based GF Securities, told
the news agency that the government may raise the threshold where
corporate and individual income becomes taxable to stimulate
China's economy.

Bloomberg News says that first-half net income grew 47% for the
268 companies that are listed on the Shenzhen exchange's stand-
alone board for small and medium-size enterprises.

Falling equity prices ate into profit at the listed companies, the
report says.  Unrealized investment gains from the stock market
decreased by CNY21.1 billion (US$3.09 billion) in the first half
for Shanghai-listed companies while Shenzhen-traded companies had
unrealized losses of CNY3.16 billion for stock trading.

China's economy, Bloomberg News relates, expanded by 10.1% in the
second quarter as exports weakened and the government curbed
lending, government statistics showed in July.

Moreover, rising fuel prices helped pushed China's inflation rate
to 7.7% in the first seven months of this year, compared with
4.8% for all of 2007, government figures show, the report adds.



===============
H O N G K O N G
===============

AMAZING DESIGN: Placed Under Voluntary Liquidation
--------------------------------------------------
At an extraordinary general meeting held on August 8, 2008, the
members of Amazing Design Limited resolved to voluntarily
liquidate the company's business.

The company's liquidators are:

          Chen Yung Ngai Kenneth
          Wong Tak Man Stephen
          Caroline Centre, 29th Floor
          Lee Gardens Two
          28 Yun Ping Road
          Hong Kong


DRAGON FULL: High Court to Hear Wind-Up Petition on September 10
----------------------------------------------------------------
A petition to have Dragon Full International Limited's operations
wound up will be heard before the High Court of Hong Kong on
September 10, 2008, at 9:30 a.m.


FULLBRIGHT COMPANY: Wind-Up Petition Hearing Set for September 17
-----------------------------------------------------------------
The High Court of Hong Kong will hear on September 17, 2008, at
9:30 a.m., a petition to have Fullbright Company Limited's
operations wound up.


GODI ENTERPRISES: Creditors' Meeting Slated for Today
-----------------------------------------------------
The creditors of Godi Enterprises Limited will meet today,
Sept. 3, 2008, at 2:30 p.m. for the purposes set out in
Sections 241, 242, 243, 244, 251(1)(a), 255A(2) and 283 of the
Companies Ordinance.

The meeting will be held at Room 103 of Duke of Windsor Social
Service Building, No. 15 Hennessy Road, in Wanchai, Hong Kong.


IMTEX COMPANY: Creditors' Proofs of Debt Due on September 30
------------------------------------------------------------
Imtex Company (Hong Kong) Limited requires its creditors to file
their proofs of debt by September 30, 2008, to be included in the
company's dividend distribution.

The company's liquidator is:

          Yuen Nai Lun
          Foo Hoo Centre, 13th Floor
          Austin Avenue, Tsimshatsui
          Kowloon, Hong Kong


MAXTOR ASIA: Members to Receive Wind-Up Report on September 30
--------------------------------------------------------------
The members of Maxtor Asia Pacific Limited will meet on Sept. 30,
2008, at 10:30 a.m., at the 35th Floor of One Pacific Place, in 88
Queensway, Hong Kong.

At the meeting, Lai Kar Yan (Derek) and Darach E. Haughey, the
company's liquidators, will give a report on the company's wind-up
proceedings and property disposal.


MING SHING: Court to Hear Wind-Up Petition on September 10
----------------------------------------------------------
The High Court of Hong Kong will hear on September 10, 2008, at
9:30 a.m., a petition to have Ming Shing Industrial Company
Limited's operations wound up.


MTB HK: Creditors' Proofs of Debt Due on September 26
-----------------------------------------------------
The creditors of MTB H.K. Limited requires its creditors to file
their proofs of debt by September 26, 2008, to be included in the
company's dividend distribution.

The company's liquidator is:

          Lam Ka Lun
          Kwai Hung Holdings Centre
          Room 1401, 14th Floor
          89 King's Road
          North Point


P. & M. PROPERTIES: Requires Creditors to File Claims by Sept. 12
-----------------------------------------------------------------
The creditors of P. & M. Properties Limited are required to file
their proofs of debt by September 12, 2008, to be included in the
company's dividend distribution.

The company's liquidators are:

          Paul Jeremy Brough
          Patrick Cowley
          Alexandra House, 27th Floor
          18 Chater Road
          Central, Hong Kong


ULTRALITE LIMITED: Final Meetings Set for September 30
------------------------------------------------------
The members and creditors of Ultralite Limited will hold their
final meetings on September 30, 2008, at 9:30 a.m. and 9:45 a.m.,
respectively, at the 35th Floor of One Pacific Place, in
88 Queensway, Hong Kong.

At the meeting, Joseph K.C Lo and Dermot Agnew, the company's
liquidators, will give a report on the company's wind-up
proceedings and property disposal.


WING HANG: Fitch Confirms Support Rating Floor 'BB' Rating
----------------------------------------------------------
Fitch Ratings assigned expected 'BBB+' ratings to Wing Hang Bank
Limited's (WHB) planned perpetual subordinated notes callable in
2013, qualifying as Upper-Tier 2 capital under the Hong Kong
Banking Ordinance.  The notes will be issued under WHB's USD2bn
medium term note subordinated programme.  Meanwhile, Fitch has
affirmed the bank's other ratings, as follows:

Long-term local and foreign currency Issuer Default Ratings (IDR)
at 'A-' (A minus), Short-term IDR at 'F2', Individual at 'B/C',
Support at '3', and Support Rating Floor at 'BB'. The Outlook
remains Stable.

WHB's ratings reflect its prudent management, sound asset quality,
adequate capitalisation and good profitability.  The bank
maintained its solid credit profile despite cumulative losses of
HKD519m on its CDO and SIV investments between H207 and H108.  At
end-H108, WHB's remaining holdings of corporate and asset-backed
CDOs were valued at HKD467m (51% of their par value), equal to
4.4% of the bank's equity.  Its profitability remained
satisfactory, although ROAA declined to 1.34% in H108 from 1.55%
in 2007, as stable net interest margins and fee income
contribution, low provision expenses, and gains on fair value
adjustments of its own subordinated debt offset the impact of the
CDO write-downs.

Loans grew by a strong 9% in H108, led by sustained growth in
property-related lending in Hong Kong and investment and
residential mortgage demand in China.  Total assets, meanwhile,
rose only 0.4% in H108 as the bank pared back interbank lending
and securities investments.  Loan quality remained good in H108,
although impaired loans ratio rose slightly to 0.49% from 0.43% at
end-2007.  While economic conditions in Hong Kong, Macau, and
southern China may become more challenging in the future, leading
to potentially higher credit costs and lower profitability, Fitch
expects WHB to maintain its balance sheet strength.  The bank
remained adequately capitalised at end-H108, with its core capital
adequacy holding steady at 8.4% at end-H108 and equity/asset ratio
at 7.64%.

Established in 1937, WHB is a mid-sized bank with 40 branches in
Hong Kong, 13 branches in Macau and six branches and sub-branches
in China, as well as one representative office in Beijing.  It is
approximately 22%-owned by the Fung family and 20%-owned by The
Bank of New York Mellon Corporation (rated 'AA-' (AA
minus)/Positive Outlook).



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

ALVAREZ & MARSAL: Hires News Seniors as Part of Int'l Expansion
-----------------------------------------------------------------
Alvarez & Marsal has disclosed several new senior hires and key
appointments as part of its continued growth and expansion in
Europe, the Middle East and India, and is on track to double in
size by 2009.

A&M, which has a distinguished track record in Europe and around
the world for delivering specialist skills in turnaround
management and restructuring advisory services, has now
established significant credentials and a world-class talent base
in the areas of Performance Improvement focused on operational
business consulting, Transaction Advisory, Dispute Analysis &
Forensic services and Financial Industry Advisory Services in
Europe.

Since 2003, Alvarez & Marsal in North America has been steadily
building on and broadening its portfolio of services, while
maintaining its focus on the firm core operational heritage, as a
means of responding to demand from corporates, investors and
stakeholders in need of improving business performance with
skilled professionals who bring a bias toward action and results.
Announcement of these senior appointments signals Alvarez &
Marsal's intent to build on the firm's ability to deliver a
sophisticated range of business advisory services and extend its
capabilities by selectively hiring top-tier talent based in A&M
locations throughout the UK and European continent.

A&M welcomes the following professionals: Ann Cairns, a Managing
Director, who joins from ABN AMRO to lead the firm's Financial
Industry Advisory practice in Europe; Ramon Tisaire, a former
Managing Director with CapGemini, who joins A&M to lead the firm's
newly launched Performance Improvement practice in Spain; Colin
Leisk, formerly of IBM and Booz Allen Hamilton, who joins as a
Managing Director in France; and Walter Bickel and Gerald Corbae,
who join A&M as Managing Directors in Munich to head up
Performance Improvement efforts in Germany.

In addition to these key hires, A&M has announced that Stefaan
Vansteenkiste and Scott Pinfield have been named co-heads of its
UK Turnaround and Restructuring practice; Douglas Rosefsky has
been named co-head of the firm's Turnaround and Restructuring
practice in France; Max Frangulov serves as co-head of A&M's newly
launched practice in Russia; Sankar Krishnan has been appointed to
oversee A&M's practices in India and the Middle East; and Rakesh
Chopra heads up the firm's practice in India.

Antonio Alvarez III, Managing Director and Head of A&M Europe,
said of the growth and expansion:

We are amassing and developing a deep and impressive talent base,
bound by A&M's distinct and unifying culture, with professionals
who bring a relentless focus on accelerating and achieving
results.  A&M professionals excel at working with business leaders
and investors who feel a sense of urgency to address complex, high
value issues and to get things done.

Over the past two years, we've experienced mounting demand not
only for our specialist turnaround skills but also – and
increasingly - for experienced A&M professionals who know how to
collaborate with management, boards and investors to accelerate
operating performance and be a catalyst for business
transformation.  While demand for our turnaround and restructuring
services has grown substantially year over year, the demand for
performance improvement has become just as strong.

With the extraordinary talent and track records exemplified in
Ann, Ramon, Colin, Walter and Gerald, A&M is well positioned to
deliver significant performance improvement capabilities and
specialized industry expertise to clients across Europe and around
the world.

I am also delighted to announce the promotions of Stefaan, Scott,
Douglas, Sankar, Max and Rakesh, who have been entrusted with key
leadership roles in our practices across Europe, the Middle East
and India. I am confident that under their senior leadership these
practices will continue to thrive.

Our firm's growth will continue to be organic - one person at a
time.  This is how we maintain our culture and core values.  It's
also why we believe so much in developing our people and promoting
their advancement.  As importantly, it is how we can consistently
ensure and deliver the high level of quality service and results
our clients expect from Alvarez & Marsal around the world.

                       New Senior Hires

* Ann Cairns, a Managing Director with Alvarez & Marsal, is Head
  of the firm's Financial Industry Advisory Services group in
  London.  Ann brings more than 20 years of experience in leading
  and improving the performance of global retail and investment
  banking operations.  Prior to joining A&M, Ann was CEO of the
  Transaction Banking unit of ABN AMRO, a EUR5 billion revenue
  business covering the bank's retail, financial, commercial and
  institutional operations across 50 countries.

* Ramon Tisaire, a Managing Director with Alvarez & Marsal in
  Madrid, leads the firm's Performance Improvement team in Spain.
  Ramon brings 17 years of experience in advising senior
  management on achieving sustainable change through strategy
  formulation, operational execution and IT implementation.  Prior
  to joining A&M, Ramon was a Managing Director of CapGemini in
  Barcelona, Spain, where he was responsible for positioning the
  firm in the top tier consulting market.

* Colin Leisk, a Managing Director, joins the firm's practice in
  France.  Prior to joining A&M, Colin was an Executive Committee
  member of IBM's Worldwide Innovation & PLM Solutions and, prior
  to that, was a Partner in the Operations Management Group of
  Booz Allen Hamilton, with particular specialization in Supply
  Chain Solutions.

* Dr. Walter Bickel, a Managing Director, brings more than 20
  years of experience in corporate and operational restructurings,
  performance improvement initiatives, and cross-border
  reorganisation and realignment efforts.  Prior to joining A&M,
  Walter served as Managing Director with Kroll Talbot Hughes
  (KTH) Germany, where he was also a member of the firm's global
  Executive Committee. Before that, he was a Managing Director
  with Droege & Co. International Management Consultants, where he
  led the global Restructuring and Turnaround practice.

* Gerald J. Corbae, a Managing Director, brings more than 10 years
  of turnaround and performance improvement experience in leading
  projects for both corporate and financial investor clients
  across Europe.  Prior to joining A&M, Gerald was Managing
  Partner of the London office of Droege & Co. International
  Management Consultants, where he assisted European portfolio
  companies of Anglo-American distressed and turnaround investors
  on restructuring and performance improvement efforts.

                  New Senior Appointments

* Managing Directors Stefaan Vansteenkiste and Scott Pinfield have
  been tapped to head up the UK Turnaround and Restructuring
  practice, which is A&M's largest practice group today.
  Stefaan most recently served as CRO of Schefenacker plc, while
  Scott was CEO of Lee Cooper International Ltd.

* Douglas Rosefsky, Managing Director, will serve as co-head of
  A&M's Turnaround and Restructuring practice in France along with
  Managing Director Patrick Puy. Douglas is currently serving as
  CRO of FMI International LLC.

* Max Frangulov, Senior Director, has been appointed co-head of
  A&M Russia practice, along with Peter Briggs, Managing Director
  and head of A&M Germany and Central and Eastern Europe.  Max
  most recently led an advisory mandate for one of the key
  creditors of Parmalat S.p.A.

* Sankar Krishnan, Managing Director, has been appointed to
  oversee A&M's Middle East and India practices.  Sankar recently
  served as CEO of Ihr Platz GmbH & Co. KG and CRO of Nybron
   Flooring International.

* Rakesh Chopra, Senior Director, will serve as co-head of A&M's
  India practice, which has offices in New Delhi and Mumbai.

               About Alvarez & Marsal (A&M)

Alvarez & Marsal (A&M) is the leading independent global
professional services firm that provides specialized performance
improvement, turnaround management, and business advisory services
to companies, investors and stakeholders across the industry
spectrum.  With services delivered through professionals operating
locally throughout Europe and around the world, A&M works as
advisers or in interim management roles to help guide
organizations through complex periods of change.  The firm has
been at the forefront of driving performance improvement through
its multi-cultural and multi-lingual professionals who excel at
problem solving and value creation.

Setting the standard of excellence in turnaround management since
1983, Alvarez & Marsal draws on its strong operational heritage
and hands-on problem solving approach to accelerate results for
publicly listed and privately held corporates and public sector
organisations, positioning them for success on the path forward.

Alvarez & Marsal has been involved in ground-breaking European
turnarounds including:  Ihr Platz, Germany's fifth largest retail
drugstore chain, for which A&M successfully employed a little-used
German insolvency law and served in interim management roles to
help achieve significant EBITDA improvement; Schefenacker plc, a
global tier one automotive supplier, for which A&M was engaged in
interim management and officer roles to implement a complex
restructuring and performance improvement initiative; Estonia-
based Galvex Group, the largest independent steel galvanizing line
in Europe, for which A&M helped to drive EBITDA improvement of
more than EUR20 million in one year.

The firm also earned top Large and International Turnaround of the
Year Awards from the Turnaround Management Association  for its
work on behalf of The Warnaco Group (2003), The Spiegel Group
(2005), and most recently in 2007 for The Treofan Group, in which
A&M served as interim leadership in a multi-national turnaround
and performance improvement effort that significantly improved
EBITDA, increased enterprise value, saved and created jobs, and
put in place a sound operational and financial foundation.  UK-
based Private Equity News named A&M Firm of the Year in 2007.
Most recently, Consulting Magazine named Alvarez & Marsal to the
2008 Top Ten Consulting Firms.


CINERAD COMMUNICATIONS: Names Abhineet Gupta as Managing Director
-----------------------------------------------------------------
Cinerad Communications Ltd's Board of Directors has appointed Mr.
Abhineet Gupta as managing director of the company pursuant to
Section 269, 198, 309 and other applicable provisions of the
Companies Act 1956, effective August 30, 2008.

Meanwhile, in July, Cinerad's Board allotted 7500000 convertible
warrants to the
company's promoters i.e. M/s. India Emerging Capital P Ltd
pursuant to a resolution passed at the Extra Ordinary General
Meeting of the members of the company held  June 21, 2008.

The 7500000 warrants allotted to the Promoters at Rs 14 per
warrant are convertible into the equity shares of Rs 10 each fully
paid up at a premium of Rs 4 per share within 18 months from the
date of allotment.

Cinerad booked annual net losses of Rs. 31.92 million in 2005; Rs.
10.81 million in 2006; Rs. 4.99 million in 2007 and Rs. 2.03
million in 2008.


CHOKSH INFOTECH: Board Considers Merger Deal With Software Co
-------------------------------------------------------------
Choksh Infotech Ltd's Board of Directors has considered the
acquisition/merger
opportunity with a US$3 million software company and decided to
give the valuation exercise to its independent auditors.

The Board will meet the promoters of the acquiring company on
receipt of the valuation and agreement of consideration.

In view of the possibility of the said acquisition, the Board
decided to extend the company's annual general meeting date beyond
September.

Choksh Infotech Ltd. operates in the Information Technology
sector.  Choksh Infotech Ltd. was incorporated in 1994 and is
based in Mumbai, India.

Choksh Infotech recorded a net loss of Rs. 0.02 million in the
year ended March 31, 2008.  In the year ended March 31, 2006, the
company recorded zero net income.  Net income for the year 2007
was not disclosed.


GENERAL MOTORS: Deserves US$50BB Gov't-Backed Loans, Mr. Lutz Says
----------------------------------------------------------------
ABI World reports that General Motors vice chairman Robert A. Lutz
said that automakers are "deserving" of as much as US$50 billion
in government-backed loans so that they can build more fuel-
efficient cars.  Mr. Lutz made the statement to reporters at an
event near Chicago where G.M. showed off its 2009 lineup,
according to Nick Bunkley of The New York Times.

As reported by the Troubled Company Reporter on Aug. 26, 2008, the
Big Three auto makers and their suppliers are now seeking
significantly more help from the federal government.

The Detroit Free Press reported earlier in August that top
executives at Ford Motor Co., General Motors Corp., and Chrysler
LLC had a meeting and decided to ask for financial aid from the
feds.  There is no consensus as to how much do auto executives
want, people familiar with the talks say, according to The Wall
Street Journal.  But reports say it could be between US$40 billion
and US$50 billion. The auto makers would like to have a funded
plan in place by the end of 2008.

The companies have already been authorized to receive US$25
billion government-backed loans approved as part of an energy bill
last year.  The loans have yet to be funded.

David Cole, president of the Center of Automotive Research in Ann
Arbor, Mich., denied the funding is a bailout in its entirety, WSJ
says.

"This is actually more like the government acting like a banker as
it begins to look at the major consequences of a major failure in
the auto industry," he said.  The current funding is reportedly
aimed at making the Big Three more competitive.

                   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.

                     About Ford Motor Co

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 on Aug. 5, 2008,
Fitch Ratings has downgraded the issuer default rating of Ford
Motor Company and Ford Motor Credit Company LLC to 'B-' from 'B'.
The Rating Outlook remains Negative.  The downgrade reflects
these: (i) the further deterioration in Ford's U.S. sales as a
result of economic conditions, an adverse product mix and the most
recent jump in gas prices; (ii) portfolio deterioration at Ford
Credit and heightened concern regarding economic access to capital
to support financing requirements; and (iii) escalating commodity
costs that will remain a significant offset to cost reduction
efforts.

                   About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars and
trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

At March 31, 2008, GM's balance sheet showed total assets of
US$145,741,000,000 and total debts of US$186,784,000,000,
resulting in a stockholders' deficit of US$41,043,000,000.
Deficit, at Dec. 31, 2007, and March 31, 2007, was
US$37,094,000,000 and US$4,558,000,000,
respectively.

General Motors Corporation offers products under the Chevrolet
brand in India through its wholly owned subsidiary, General Motors
India.  GM India has 95 sales points and over 110 service centers.

General Motors Latin America, Africa and Middle East, with
headquarters in Miramar, Florida, is one of GM's four regional
business units.  GM LAAM employs approximately 37,000 people in
18 countries and has manufacturing facilities in Argentina,
Brazil, Colombia, Ecuador, Egypt, Kenya, South Africa and
Venezuela.  GM LAAM markets vehicles under the Buick,
Cadillac, Chevrolet, GMC, Hummer, Isuzu, Opel, Saab and
Suzuki brands.


INTENSE TECHNOLOGIES: Proposes Issue of 9,00,000 Equity Warrants
----------------------------------------------------------------
Intense Technologies Ltd's Board of Directors has proposed for
issue of 9,00,000 equity warrants, convertible into equity shares,
to ISON Infotel Pvt. Ltd, at a price to be arrived at in terms of
SEBI guidelines and subject to all approvals as may be required.

Meanwhile, on August 5, 2008, the company disclosed that Chairman
and Managing Director C K Shastri has succeeded Mr. Raghav Sahgal
as the company's CEO following
Mr. Sahgal's resignation.

Headquartered in Secunderabad, India, Intense Technologies Ltd. --
http://www.intense.in/-- is a software products company.  The
Company offers enterprise agility through the intelligent
Enterprise Customer Communication Management (iECCM), intelligent
Enterprise Information Management (iEIM) and intelligent
Enterprise Content Management Suites (iECM).  The iECCM Suite
enables enterprises to transform their obligatory customer
documents (such as bills, statements, receipts and invoices) into
customer-focused, relationship-based communications.  The
Company’s process and knowledge agility solution, the iECM Suite
is powered by enterprise wide document management system (DMS),
workflow, e-forms, and digital rights management capabilities.
The iEIM Suite allows generation of reports and performs complex
analytics from a single staged area source.  The iEIM Suite is
empowered by a digital dashboard as an end user interface to allow
users to configure and personalize reports and analytics.

Intense Technologies booked annual net losses of Rs. 53.04 million
in 2007 and Rs. 92.23 million in 2008.


SPICEJET LTD: Board OKs Swapping US$200,000 FCCBs Into Shares
-------------------------------------------------------------
Spicejet Ltd's Board of Directors has approved the conversion of
FCCBs amounting to US$200,000 into 368,960 equity shares of Rs 10
each to India Asset Recovery Fund Ltd.

The Board also approved the appointment of Mr. Tom Ronell as
director in place of Mr. Osman Qureshi (Istithmar nominee) and the
resignation of Mr. Khaled Mohammed Ali Alkamda as director
(lstithmar nominee).

Meanwhile, Spicejet will convene an extraordinary general meeting
of its members on September 12, 2008, to consider increasing the
authorized share capital of the company from Rs 3,500,000,000
divided into 350,000,000 equity shares of Rs 10 each to Rs
4,150,000,000 divided into 415,000,000 equity shares of Rs 10 each
ranking pari-passu with the existing shares of the company and
consequential amendment in the Memorandum of Association of the
company.

At the AGM, Spicejet's members will also consider the:

   -- creation, offer, issuance and allotment of up to
      15,360,715 warrants (having option to apply for
      and be allotted equivalent equity shares of the
      company) to GS Investment Partners (Mauritius) I Ltd
      and/or GS Investment Partners (Mauritius) II Ltd, as
      contained in the notice dated August 13, 2008; and

   -- creation, offer, issuance and allotment of up to
      15,360,715 warrants, having option to apply for
      and be allotted an equivalent number of equity
      shares of the face value of Rs 10 each of an
      aggregate nominal amount of up to Rs 153,607,150
      at Rs 39.45 per equity share (including a premium
      of Rs 29.45 per equity share) to GS Investment
      Partners (Mauritius) I Ltd and/or GS Investment
      Partners (Mauritius) II Ltd, aggregating up to
      Rs 605,980,206.75, on preferential basis, in one
      or more tranches and on such remuneration, terms
      and conditions, subject to necessary provisions
      and approvals.

                      About SpiceJet Limited

SpiceJet Limited -- http://www.spicejet.com/-- is an airline
carrier in India. During the fiscal year ended May 31, 2007
(fiscal 2007), the company increased its fleet size to 11
aircrafts covering 14 destinations and operating 83 daily
flights. The aircrafts acquired during fiscal 2007, were the
next generation Boeing737-800. The company has also integrated
with Tata AIG Insurance Company Limited to commence travel
insurance sales, which was launched in May 2007.

                         *     *     *

SpiceJet Limited booked annual net losses of Rs. 707.43 million in
2007 and Rs. 1,335.07 million in 2008.



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

ANEKA TAMBANG: Revises 2008 Sales Target by 5.8 Percent
-------------------------------------------------------
PT Aneka Tambang is revising upwards its 2008 sales target by
5.8 percent, Jakarta Post reports.

According to the report, the revision aims to anticipate a
continuing decline in nickel prices.  The downward trend has
affected the company's first semester performance.

Corporate secretary Bimo Budi Satriyo told the Post that the
company planned to raise the sales of ferronickel, its major
source of revenue, to 18,000 tons this year, from an initial
target of 17,000 tons.

"We will optimize the production capacity of existing plants to
meet the target," Mr. Satriyo was quoted by The Post as saying.

                       About Aneka Tambang

PT Aneka Tambang Tbk -- http://www.antam.com/-- mines,
processes, develops, and explores natural deposits.  The company
operates six mines.  They are located in Riau (bauxite),
Sulawesi and Maluku (nickel), Central Java (iron sand), and
WestJava (gold).  The company also operates a precious metal
refinery and a geology unit in Jakarta.

                          *     *     *

As reported in the Troubled Company Reporter-Asia Pacific on
Jan. 17, 2008, Moody's Investors Service upgraded PT Aneka
Tambang (Persero) Tbk's corporate family rating to Ba3 from B1.
The action concluded the review for possible upgrade which
commenced on October 22, 2007.

In December 2006, Standard & Poor's Ratings Services raised
its long-term corporate credit rating on Indonesian state-owned
mining company PT Antam Tbk. to 'B+' from 'B'.  The outlook is
stable.  At the same time, Standard & Poor's also raised to
'B+', from 'B', the rating on the senior unsecured notes issued
by Antam Finance Ltd. and guaranteed by Antam.


MERPATI NUSANTARA: Relocates Headquarters to Makassar
-----------------------------------------------------
PT Merpati Nusantara Airlines has moved its base to Makassar from
Jakarta, Antara News reports.

Merpati's General Manager, Supandi Ahmad Suwito, told Antara that
a total of 150 employees will be moved to Makassar and the whole
moving process that was allocated with IDR10 billion
(US$1.09 million) budget will be finished by the end of October.

The move was not only aimed to get closer with the airline's major
customers in the eastern regions, but also to open logistic access
in the region; both for the company’ s and regions’ benefit,
Mr. Supandi added.

Meanwhile, Merpati Brand and Marketing Communication Manager
Widodo Aryanto told Antara that the move would also change the way
the company would do its business.

“We are now focusing to be a feeder for other airlines and
developing joint operating cooperation with the regional
administrations and businesses,” Mr. Aryanto was quoted by Antara
as saying.

                  About Merpati Nusantara

Headquartered in Jakarta, Indonesia, PT Merpati Nusantara
Indonesia -- http://www.merpati.co.id/-- is a state-owned
carrier that services predominantly international routes.  The
carrier is facing the threat of being declared bankrupt with
IDR1.6 trillion in accumulated losses.

According to reports, Merpati suffered from high fuel prices and
hurt by the weaker rupiah.  The bombings in Bali in October 2005
hit the airline pretty hard in its revenue flow.  The airline is
also struggling to cope with new competition within Indonesia,
both from domestic airlines and from other airlines coming into
Indonesia internationally.

The Troubled Company Reporter-Asia Pacific reported in January
2006 that the government promised to inject up to IDR400 billion
into the Company.  However, since it is also cash-strapped, the
government said it would disburse the amount in installments,
and initially meted out IDR75 billion for the company to
continue its business.

As of fiscal year end 2005, the company had an equity deficit of
IDR1.24 trillion.

On July 24, 2004, the Indonesian Government invited applications
from financial and legal advisers to help devise a privatization
scheme for the carrier.  The Government proposed a strategic
sale of the state's 51% stake in Merpati to help fund the
carrier's operations.


PT PERTAMINA: Subsidiary Inks US$16 Bil. Gas Sale Deal With Medco
-----------------------------------------------------------------
PT Pertamina E&P, a subsidiary of PT Pertamina, has signed with
Medco International a US$16 billion natural gas sale-purchase
agreement, which consisted of two heads of agreement (HOA) for a
period of 15 years, Antara News reports.

According to the report, the first HOA document covers a sale-
purchase agreement between PT Pertamina E&P and PT Donggi Senoro
LNG for a 15-year period with a volume of 85 million mmscfd per
day to be supplied from the Matindok gas field.

Meanwhile, R Priyono, Head of the Oil and Gas Regulating Body (BP
Migas), told Antara that the second HOA covers a joint operating
body agreement among Pertamina E&P of Tomori Central Sulawesi,
Medco and PT Donggi Senoro LNG.  This sale purchase agreement
covers a term of 15 years with a volume of 250 million mmscfd per
day.

                        About PT Pertamina

PT Pertamina (Persero) -- http://www.pertamina.com/-- is a
wholly state-owned enterprise.  The enactment of Oil and Gas Law
No. 22/2001 in November 2001 and Government Regulation
No.31/2003 has changed its legal status from a special state
owned enterprise into a Limited Liability Company.  In carrying
out its activities, PT Pertamina implements an integrated system
from upstream to downstream.  Pertamina operates seven oil
refineries with a total output capacity of around 1 million
barrels per day.  However, these refineries only cover about
three-quarters of domestic oil demand, the rest is supplied by
imports.

Despite reporting a net profit of IDR3.03 trillion for the first
six months of 2005, Pertamina's failure to service its financial
obligations was pegged as one of the contributors to Indonesia's
decreased income for the year.

In August 2005, Pertamina's debt to United States firm Karaha
Bodas Company rose from IDR2.54 trillion to IDR2.99 trillion.
The debt had increased when, in 2003, a U.S. court ordered the
Company to pay compensation to KBC, relating to an international
arbitration decision, when the Indonesian Government halted a
geothermal project in Karaha Bodas, East Java.  Since that time,
the debt has steadily risen due to the Company's failure to pay
the compensation immediately.



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

FORD MOTOR: District Court Approves VEBA Health Care Trust Fund
---------------------------------------------------------------
The Detroit Free Press reports that U.S. District Court Judge
Robert Cleland in Detroit approved, on Friday, the creation of the
Voluntary Employee Beneficiary Association, an indendent union-
controlled trust fund for Ford Motor Company employees.  Ford will
be turning over to the United Auto Workers union retiree health
care obligations.

According to a UAW Report, Ford agreed to fund the VEBA in a
manner sufficient to provide benefits at current levels on a
lifetime basis for current and future retirees, based on
reasonable projections.

The Detroit Free Press, relates that the ruling indicated that
Ford, together with General Motors Corp. and Chrysler LLC, can
make a go at the funds.  Judge Cleland approved GM's VEBA on
July 31, and Chrysler's on August 4.

The UAW Report recounts that Ford's VEBA trust pays benefits
beginning Jan. 1, 2010.  In order to secure long-term funding for
retiree health care, Ford will continue to pay for retiree health
care directly until 2010 (at a cost of roughly US$ 2.2 billion),
and
also contribute US$13.2 billion in cash and securities to the
independent VEBA trust.

According to The Wall Street Journal, Ford vowed in August to
continue operating three former Visteon Corp. plants beyond 2008
as it attempts to find buyers in an ever-tightening market.  Ford
took back 17 factories and facilities back from Visteon, its
financially struggling parts supplier and former subsidiary.  The
Journal said the plants were placed in the Automotive Components
Holdings unit created by Ford in October 2005.  To date, the unit
has sold five plants, will close three this year and has
nonbinding sale agreements on two other facilities, WSJ says.

Separately, Ford Motor Credit told investors early in August that
it is substantially scaling back the number of vehicles it expects
to lease and warned that if market conditions continue to
deteriorate, further losses could place Ford Credit's lending plan
at further risk, the Journal says.  According to the Journal, Jim
Farley, Ford's global vice president for marketing and
communications, said during a call with analysts, that "we are
rebalancing our marketing incentives to really focus on retail
[loans]. We've been actually doing that for several months and it
has been very effective in rebalancing our portfolio."

                    About Ford Motor Co

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 on Aug. 5, 2008,
Fitch Ratings has downgraded the issuer default rating of Ford
Motor Company and Ford Motor Credit Company LLC to 'B-' from 'B'.
The Rating Outlook remains Negative.  The downgrade reflects
these: (i) the further deterioration in Ford's U.S. sales as a
result of economic conditions, an adverse product mix and the most
recent jump in gas prices; (ii) portfolio deterioration at Ford
Credit and heightened concern regarding economic access to capital
to support financing requirements; and (iii) escalating commodity
costs that will remain a significant offset to cost reduction
efforts.


SOFTBANK CORP: To Pay JPY2.5/Share Dividend for FY Ending March 09
------------------------------------------------------------------
Softbank has decided to issue year-end dividend of JPY2.5 per
share, from an undetermined value announced on May 8, 2008, to
shareholders, for the fiscal year ending March 2009, Reuters
reports.

Softbank is 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 company continues to carry Moody's "Ba2" Issuer and Senior
Unsecured Debt Ratings.  The outlook on the ratings is stable.


* JAPAN: Automotive Sales Drop 14.9% in August
----------------------------------------------
Japan's auto sales in August posted their steepest year-to-year
drop in nearly a decade, but the comparison was skewed by inflated
results in the year-earlier month, Yoshio Takahashi of The Wall
Street Journal reports.

The report relates, citing the Japan Automobile Dealers
Association, that August domestic sales of new cars, trucks and
buses fell 14.9% from a year earlier, their sharpest fall since
15.9% in November 1998.

According to the report, Japanese car makers temporarily halted
production in July of last year after a major earthquake forced
them to put off planned registrations of some vehicles until the
next month.  That pushed the number of registrations in August
2007 higher than actual sales.  Last month was the first time in
37 years that vehicle sales had dipped below 200,000 vehicles in
August, the report notes.

Although the quake last year exaggerated the decline in August,
WSJ says underlying demand for automobiles in Japan remains
sluggish as customers delay buying cars amid high gasoline prices
and a stagnant economy.



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

CHOROKBAEM MEDIA: Disposes Stake in Korea-based Unit for KRW250MM
-----------------------------------------------------------------
Chorokbaem Media Co. Ltd. has disposed its entire 50,000 shares in
a Korea-based subsidiary company, which is mainly engaged in
management business for entertainments, Reuters reports.

According to the report, the company sold the Korean unit for
KRW250,000,000, on August 22, 2008.

Seoul, Korea-based Chorokbaem Media Co., Ltd. is a manufacturer
engaged in the provision of non-woven fabrics.  The company
provides non-woven fabrics used in normal and special filters,
artificial and synthetic leathers and other related usages.  In
addition, the company operates family restaurants.

Korea Investors Service gave the company's unregistered
US$8 million convertible bonds a 'B' rating on Feb. 16, 2007.


CHONGKUNDANG CORP: Wins Patent in Japan
---------------------------------------
Chongkundang Corp. was awarded a patent covering thiazolidinedione
derivatives and pharmaceutical composition comprising the
composition in Japan on August 28, 2008, Reuters reports.

Chongkundang Pharmaceutical Corporation --
http://www.ckdpharm.com/-- manufactures and distributes
pharmaceutical products.  The company produces medical drugs in
the fields of systemic anti-infective, cardiovascular system,
alimentary tract, metabolism, and sensory organs.  Chongkundang
Pharmaceutical also constructs apartments and factories.

Korea Investors Service gave Chong Kun Dang's senior unsecured
debt a BB+ rating, while its commercial paper merited a B
rating.



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

KOSMO TECHNOLOGY: Incurs MYR2.70MM Net Loss in Qtr. Ended June 30
-----------------------------------------------------------------
Kosmo Technology Industrial Berhad posted MYR2.70 million net loss
on MYR1.65 million of revenues in the quarter ended June 30, 2008,
as compared to the MYR105,000 net profit on MYR7.16 million of
revenues recorded in the same quarter of 2007.

For current quarter under review, finance cost increased by
MYR0.654 million or 50.7% as compared to the preceding quarter of
MYR1.290 million.  This was an increase due to adjustment of the
ICULS interest during conversion of ICULS to ordinary shares.
Other expenses of MYR0.178 million was due to loss on disposal of
fixed assets.

As of June 30, 2008, the company's balance sheet showed
MYR26.65 million of total assets, MYR113.79 million of total
liabilities, resulting in a shareholders' deficit of
MYR87.14 million.

                      About Kosmo Technology

Kosmo Technology Industrial Bhd., formerly known as Orion Unggul
Sdn. Bhd., is a Malaysia-based investment holding company.  The
company operates through two business segments: investment
holding and car accessories, which is engaged in the manufacture
and sale of plastic injection mould car accessories.  The
company operates through its subsidiaries Kosmo Motor Company
Sdn. Bhd. and Hexariang Sdn. Bhd. Kosmo Motor Company Sdn. Bhd.
is engaged in importing, assembling, distributing and
maintaining commercial vehicles.  Hexariang Sdn. Bhd. is an
investment holding company.  Nagatrend Sdn. Bhd., which is a
subsidiary of Hexariang Sdn. Bhd. is engaged in the manufacture
and sale of car accessories.  The company also has a 30% equity
interest in M Dot Mobile Sdn. Bhd.

                         *     *      *

As reported by the Troubled Company Reporter-Asia Pacific on
May 14, 2008, Kosmo Technology Industrial Berhad has been
considered as an Affected Listed Issuer under Practice Note No.
17/2005 of the Bursa Malaysia Securities Berhad as the company
was unable to provide a solvency declaration.

The company is currently encountering cash flow problems and has
been unable to meet its obligations in payment of loans and to
creditors.  A notice of demand has been issued to Kosmo by Zul
Rafique & Partners for and on behalf of CapOne Berhad and
Malaysian Trustees Berhad for the repayment of the whole loan
facility together with all interest payable amounting to
MYR52,029,322.


LITYAN HOLDINGS: Posts MYR1.96 Mil. Net Loss in Qtr. Ended June 30
------------------------------------------------------------------
Lityan Holdings Berhad disclosed with the Kuala Lumpur Stock
Exchange its financial report for the second quarter ended
June 30, 2008.  For the current period, the company incurred
MYR1.96 million net loss on MYR13.63 million of revenues as
compared with MYR2.65 million net loss on MYR12.33 million of
revenues in the same quarter of the preceding year.

As of June 30, 2008, the company's balance sheet showed
MYR69.53 million of total assets, MYR162.99 million of total
liabilities, resulting in a shareholders' deficit of
MYR93.46 million.

Headquartered in Selangor Darul Ehsan, Malaysia, Lityan Holdings
Berhad -- http://www.lityan.com.my/-- sells and provides
maintenance services and rental of computer equipment,
peripherals, telecommunication equipment and related services.
The Company's other activities include provision of building
maintenance and management services, developing and marketing of
new client-server programming tools and application software,
operation of public mobile data network, property investment and
investment holding.  The Group carries out its operations in
Malaysia and the Philippines.

                          *     *     *

On May 10, 2005, the company was classified as an affected
listed issuer pursuant to Bursa Malaysia Securities Berhad's
Practice Note 17 category.  On January 16, 2006, the Company
entered into a conditional Restructuring Agreement to undertake
the Proposed Restructuring Scheme with the intention of
restoring itself onto stronger financial footing via an
injection of new viable businesses.

The company announced a New Proposed Restructuring Scheme on
December 6, 2007.  The company submitted the Proposed
Restructuring Scheme (PRS) to the Securities Commission on
April 4, 2008.  The Group requested the Securities Commission to
defer its review process of the application for two months until
end of August 2008.


NIKKO ELECTRONICS: Defaults MYR741.91 Mil. Payment to Maybank
-------------------------------------------------------------
Pursuant to the PN/2001 of the Kuala Lumpur Stock Exchange, Nikko
Electronics Bhd. disclosed that it defaulted on MYR741.91 million
bankers' acceptance facilities, which was due on Aug. 28, 2008,
granted by Maybank Islamic Berhad.

Nikko was unable to repay the liability to the bank due to the
difficult cash flow position as a result of the contraction in
the remote control toys industry.  The company had been
lossmaking and its ventures to manufacture new products had also
failed to make a profitable contribution to the company.

To address the default, the company will review various debt
restructuring options to address its financial condition.  The
company had also ceased its manufacturing operations with
immediate effect on June 30, 2008, to prevent incurring further
losses.

                        About Nikko

Nikko Electronics Berhad manufactures sells radio controlled
toys, electronic and toy related products.  The Group operates
in Malaysia, United States of America, France, Japan, United
Kingdom, Netherlands, Italy, Norway, Hong Kong, Denmark,
Austria, Spain, Australia and other countries.

                         *     *     *
On June 30, 2008, Nikko Electronics Bhd. was classified as an
affected listed issuer under Practice Note 1/2001 (PN1/2001) of
the Listing Requirements of Bursa Malaysia Securities Berhad
because it had defaulted on a bankers' acceptance facility due
on June 27, 2008, for an amount of MYR1,457,084 due to Malayan
Banking Berhad.  Nikko is unable to repay the liability to the
bank due to the difficult cash flow position as a result of the
contraction in the remote-control toys industry.

The company had been loss-making and its ventures to manufacture
new products had also failed to make a profitable contribution
to it.  Nikko will also be suspending its business activities to
prevent incurring further losses.


SUNWAY INFRASTRUCTURE: Posts MYR10.14M Net Loss in 4th Qtr. 2008
----------------------------------------------------------------
Sunway Infrastructure Berhad posted MYR10.14 million net loss on
MYR8.99 million of revenues in the fourth quarter ended June 30,
2008, as compared with MYR25.35 million net loss on MYR7.50 mil.
of revenues recorded in the same quarter of 2007.

For the FY 2007/08 the Group recorded an increase in revenue of
MYR4.17 million to MYR33.13 million as compared to MYR28.95 mil.
in FY 2006/07.

The Group recorded profit of MYR178.08 million for FY 2007/08 as
compared to a loss of MYR82.87 million in FY 2006/07.  This was
due to the significant profit recorded in FY2007/08 from a one-
time write-back of MYR198.5 million.

As of June 30, 2008, the company's balance sheet showed
MYR950.53 million of total assets, MYR809.75 million of total
liabilities, resulting in a shareholders' equity of
MYR140.78 million.

                    About Sunway Infrastructure

Headquartered in Petaling Jaya, Malaysia, Sunway Infrastructure
Berhad -- http://www.sunway.com.my/-- is an investment holding
company in Malaysia.  The Company's wholly owned subsidiary,
Sistem Lingkaran-Lebuhraya Kajang Sdn. Bhd. (SILK), is
responsible for the construction of the Kajang Traffic Dispersal
Ring Road.  Silk's activities are the upgrading and widening of
existing roads; the design and construction of a new alignment,
and the operation of the Kajang Traffic Dispersal Ring Road,
including toll operations and maintenance.  Through SILK, the
Company owned Salient Million Sdn. Bhd. Salient Million Sdn. Bhd
mainly focuses on undertaking housing development for residents
whose dwellings are located on the land, on which the Kajang
Traffic Dispersal Ring Road is constructed or who are affected
by the construction of the Kajang Traffic Dispersal ring road.
On November 22, 2005, SILK disposed of Salient Million Sdn. Bhd.

                          *     *     *

The company is an affected listed issuer pursuant to the Amended
PN17 since its auditors have expressed a modified opinion with
emphasis on the company's going concern in the company's audited
financial statements for the year ended June 30, 2006, and since
the unaudited shareholders' equity of approximately MYR26.702
million based on its quarterly results for the period ended
September 30, 2006, is less than 50% of its issued and paid up
capital of MYR90 million.

In addition, the Troubled Company Reporter - Asia Pacific
reported on March 20, 2007, that its shareholders' equity on a
consolidated basis based on the unaudited results for the
quarter ended Dec. 31, 2006 of MYR7.173 million, is less than
25% of the issued and paid-up capital of the Company of MYR90
million and such shareholders' equity is less than the minimum
issued and paid-up capital as required under Paragraph 8.16A(1)
of the Listing Requirements of RM60 million, triggering another
listing criteria under Amended PN17 listing requirements.


TECHVENTURE BERHAD: Incurs MYR3.28 Mil. Net Loss in 2nd Qtr. 2008
-----------------------------------------------------------------
In a filing with the Kuala Lumpur Stock Exchange, Techventure
Berhad disclosed that it incurred MYR3.28 million net loss on
MYR1.24 million of revenues in the second quarter ended June 30,
2008, as compared with the recorded MYR3.78 million net loss on
MYR3.67 million of revenues in the same quarter of 2007.  The loss
for the quarter is mainly attributable to interest on outstanding
loans and depreciation.

As of June 30, 2008, the company's balance sheet showed
MYR121.65 million of total assets, MYR166.20 million on total
liabilities, resulting in a shareholders' equity deficit of
MYR44.56 million.

                      About Techventure Berhad

Techventure Berhad is based in Selangor, Malaysia. Apart from
being a corrugated cartons manufacturer, the Group is also
involved in the production of rubber insulation materials and
roto-molded plastic products like septic tanks, playground
equipment, traffic barriers, and water tanks. It markets its
entire corrugated cartons and plastic products locally while
about 80% of the rubber insulation materials are exported. In
addition, the Group also manufactures ice cream.

                          *     *     *

The Troubled Company Reporter-Asia Pacific reported on May 10,
2006, that Bursa Malaysia Securities Berhad identified
Techventure Berhad as an affected listed issuer having triggered
two of the criteria of the Amended Practice Note 17 category.

The company fell under the category because:

-- the auditors have expressed a modified opinion with
    emphasis on Techven's going concern status in the latest
    audited accounts for the financial year ended Dec. 31, 2005,
    and

-- there are defaults in payment by Techven and its major
    subsidiaries as announced pursuant to Practice Note
    No. 1 and Techven is unable to provide a solvency
    declaration to Bursa Malaysia Securities Berhad.


WWE HOLDINGS: Posts MYR1.08 Mil. Net Loss in Qtr. Ended June 30
---------------------------------------------------------------
In a filing with the Kuala Lumpur Stock Exchange, WWE Holdings
Bhd disclosed that it incurred MYR1.08 million net loss in the
third quarter ended June 30, 2008, as compared to MYR2.3 million
net loss posted in the same quarter of 2007.

For the current quarter, the group registered revenue of
MYR1.25million as compared to negative revenue of MYR51.92 million
in the preceding year quarter.  In the preceding year quarter, the
Group had reversed the revenue earned from the JSN Project up to
the extent of its progress billings for the JSN Project.  The
revenue in the current quarter is mainly derived from the
operation and maintenance works.

As of June 30, 2008, the company's balance sheet showed
MYR231.97 million of total assets, MYR216.91 million of total
liabilities, resulting in a shareholders' equity of
MYR11.38 million.

                      About WWE Holdings

WWE Holdings Bhd is engaged in investment holding and is a
contractor for the provision of engineering services related to
design, fabrication, installation and commissioning of water,
wastewater treatment, environmental facilities and construction
activities.  The company's subsidiaries include WWE Construction
Sdn. Bhd., a contractor for the provision of engineering
services related to design, fabrication, installation and
commissioning of water, wastewater treatment, environmental
facilities and construction activities; WWE Industries Sdn.
Bhd., which provides installation of mechanical and electrical
works connected with water, wastewater treatment and
environmental engineering, and Quality Water Technology Sdn.
Bhd., which undertakes research and development activities to
develop new technologies related to water and wastewater.  On
March 23, 2006, WWE acquired the remaining 30% equity interest
in Quality Water.

                          *     *     *

As reported by the Troubled Company Reporter-Asia Pacific on
March 7, 2008, the company was classified as an Affected Listed
Issuer under PN 17 of Bursa Malaysia Securities Berhad's Listing
Requirements because the company's auditors were unable to
ascertain the recoverability of the amounts and the outcome of
the legal suit brought against the company.  Thus, the auditors
are unable to form an opinion on the financial statements of the
Group for the financial year ended September 30, 2007.



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

AKAU LIMITED: Liquidators Set September 12 as Claims Bar Date
-------------------------------------------------------------
The High Court at Auckland has appointed Boris van Delden and
Peri Micaela Finnigan, insolvency practitioners of Auckland, as
liquidators of Akau Limited.

The liquidators set Sept. 12, 2008, as the last day for creditors
to file their proofs of debt.

The company's liquidators can be reached at:

          McDonald Vague
          PO Box 6092
          Wellesley Street
          Auckland 1141
          Telephone: (09) 303 0506
          Facsimile: (09) 303 0508
          Website: www.mvp.co.nz


BLAKE FAMILY: Liquidators Set September 10 as Claims Bar Date
-------------------------------------------------------------
Pursuant to Section 255(2)(a) of the Companies Act 1993, the
shareholders of Blake Family Vineyard Limited resolved that the
company be liquidated and that Carlos da Silva, of Deloitte,
Chartered Accountants, be appointed as liquidator.

Creditors are required to file their proofs of debt by Sept. 10,
2008, to be included in the company's dividend distribution.

The liquidator can be reached at:

          Carlos da Silva
          PO Box 17
          Hamilton
          Telephone: (07) 838 4800
          Facsimile: (07) 838 4810


BOTRY-ZEN: Secures New Loan With Bank of New Zealand
----------------------------------------------------
Botry-Zen Limited disclosed in a regulatory filing that it has
executed:

   (i)  a new loan overdraft facility agreement with Bank of
        New Zealand for a maximum facility of NZ$1.2 million
        which has a termination date of April  30, 2009;

   (ii) a loan agreement with Melic Innovators Limited in the
        amount of NZ$500,000 for a term of 3 years on terms
        mirroring the interest payable by the company on its
        Bank of New Zealand overdraft facility; and

   (iii)a subscription agreement with Melic for the issue of
        25,000,000 ordinary shares at an issue price of
        NZ$0.02 being in aggregate an amount of NZ$500,000.
        This placement represents approximately 12% of the
        company's issued capital.

Melic previously operated Bush Road Limited, a prominent food
processing operation based in, Mosgiel, Otago.  The Melic funds
have been received by the company.

Botry-Zen said it is currently in discussions with another
unrelated party to subscribe for approximately 10,000,000 ordinary
shares, also at $0.02.  The company expects to be in a position to
announce later this week whether that placement will proceed.

The company recently announced production difficulties in respect
of the manufacture of its product BOTRY Zen.  The most recent
production results have produced improved levels of BOTRY-Zen, but
it may be premature to conclude that the recent difficulties will
not recur.  The company will provide further information as to
production results when there is greater certainty of the levels
which can be achieved for the current season.

Production of ARMOUR-Zen has been delayed whilst the company
stabilized its financial position.  The new capital will enable
ARMOUR-Zen production to re-commence.

The company said it had been engaged PricewaterhouseCoopers to
provide independent advice to the company as to its financial
position and options.  That engagement has now been completed.

                      About Botry-Zen

Headquartered in Dunedin, New Zealand, Botry-Zen Limited --
http://www.botryzen.co.nz/-- is engaged in the research,
development and commercialization of biological control agents
for use in the agriculture and horticulture industry.  The
company operates in New Zealand, and is engaged in the
production and marketing for sale of the BOTRY-Zen product.
BOTRY-Zen is a live spore preparation of a non-pathogenic
saprophytic fungus.

                       *     *    *

The company incurred three consecutive annual net losses of
NZ$1.22 million, NZ$1.67 million and NZ$1.58 million for the
years ended March 31, 2008, 2007 and 2006, respectively.


CHESILPARK HAWKE'S: Proofs of Debt Due on September 19
------------------------------------------------------
In accordance with Section 241 of the Companies Act 1993, the
shareholder of Chesilpark Hawke’s Bay Properties Limited appointed
John Trevor Whittfield and Peri Micaela Finnigan, insolvency
practitioners of Auckland, as liquidators on Aug. 1, 2008.

The liquidators set Sept. 19, 2008, as the last day for creditors
to file their proofs of debt.

The company's liquidators can be reached at:

          McDonald Vague
          PO Box 6092
          Wellesley Street
          Auckland 1141
          Telephone: (09) 303 0506
          Facsimile: (09) 303 0508
          Website: www.mvp.co.nz


D'CLADDINGMAN LTD: Commences Liquidation Proceedings
----------------------------------------------------
The High Court at Auckland held a hearing on Aug. 27, 2008, to
consider an application putting D’Claddingman Limited into
liquidation.

The application was filed on April 22, 2008, by the Commissioner
of Inland Revenue.

The plaintiff's address for service is at:

          Inland Revenue Department
          Legal and Technical Services
          17 Putney Way (PO Box 76198)
          Manukau
          Auckland 2241
          Telephone: (09) 985 7274
          Facsimile: (09) 985 9473

Sandra Joy North is the plaintiff's solicitor.


DIGGERDOG LTD: Proofs of Debt Due on September 11
-------------------------------------------------
Pursuant to sections 241(2)(a) and 241(3)(a) of the Companies Act
1993, the shareholders of Diggerdog Limited appointed
Gregory John Sherriff, insolvency specialist, and David Stuart
Vance, chartered accountant, as liquidators on Aug. 7, 2008.

The liquidators set Sept. 11, 2008, as the last day for creditors
to file their proofs of debt.

Creditors and shareholders may direct their inquiries to:

          Logan Nicholls
          Levels 11-16
          Deloitte House
          10 Brandon Street
          Wellington
          Telephone: (04) 472 1677
          Facsimile: (04) 472 8023


DORCHESTER: Unit Submits Deferred Repayment Plan to Trustees
------------------------------------------------------------
Dorchester Pacific Limited disclosed that its subsidiary,
Dorchester Finance, delivered its deferred repayment plan to the
Trustees, Perpetual Trust Limited and New Zealand Permanent
Trustees Limited.

Dorchester Pacific said that in putting the plan together
Dorchester Finance has been working closely with a number of
independent professional advisers, including Grant Samuel and
Associates, PricewaterhouseCoopers and Jones Lang LaSalle.

Executive Director of Dorchester Pacific, Mr. Paul Byrnes said
"The work, input and advice of the independent advisers along the
way has been invaluable.  The plan is, as a consequence, both
robust and realistic.  We feel very confident that it is in the
best interests of the debenture stock holders and note holders to
support it."

Concerning the next step in the process, Mr. Byrnes said "The
review by the Trustees is an important part of the process and has
to take place before the plan can be presented to the debenture
stock holders and note holders.

Pending review by the Trustees it would not be appropriate to
discuss any aspects or details of the plan.  We remain hopeful,
however, that the plan can be voted on around the end of September
2008".

As at Aug. 28, 2008, Dorchester Finance's cash holdings were just
over NZ$30 million.

As reported in the Troubled Company Reporter-Asia Pacific on
June 27, 2008, Dorchester Finance said it will withdraw and not
renew its prospectus and will seek the approval of debenture
holders and note holders to a deferred repayment plan, but with
continued interest payments.

Chairman of Dorchester Finance, Mr. Barry Graham said "As a
result of the rapid decline in the property finance market and a
continuing fall in reinvestment rates the Board has formed the
view that there is now a risk of a cash flow shortfall arising
in future months."

Mr. Graham added "The intention of the deferred repayment plan
is to allow us to repay principal owed to investors over a
period of approximately two years.  Although the details are yet
to be formulated and agreed with the Trustees, Dorchester
Finance intends to continue to make interest payments.
Repayments of debenture and subordinated note maturities will be
suspended from June 26, 2008."

As at June 24, 2008, Dorchester Finance had NZ$168 million in
debenture stock secured against total assets of NZ$212 million,
including $18 million in cash.  In addition it had NZ$8 million
in subordinated notes on issue.

                  About Dorchester Pacific

Headquartered in Auckland, New Zealand, Dorchester Pacific
Limited (NZE:DPC)-- http://www.dorchester.co.nz--is a financial
solutions provider, offering complementary products and services
across finance, insurance, savings and investments.  The Finance
division provides investment opportunities through secured
debenture stock and subordinated unsecured notes, and financing
solutions for the property, business, equipment, motor vehicle
and personal finance sectors.  Its insurance and savings
division provides a range of savings, life insurance, reverse
annuity mortgages, home equity release loans and other financial
products and services.  The Investment Service division includes
equity investment advisers and sharebrokers, MoneyOnline and NZ
Investor Magazine, which provide professional, independent
investment advice, sharebroking and financial planning services.
Dorchester Pacific holds a 25% shareholding in St. Laurence
Limited, the holding company for a property-based investment and
finance group of companies, which manages assets for over 16,000
investors.


ESTABLISHMENT PETONE: Proofs of Debt Due on September 10
--------------------------------------------------------
Pursuant to sections 241(2)(a) and 241(3)(a) of the Companies Act
1993, the shareholders of The Establishment Petone Limited
appointed Gregory John Sherriff, insolvency specialist, and
David Stuart Vance, chartered accountant, as liquidators on
Aug. 6, 2008.

The liquidators set Sept. 10, 2008, as the last day for creditors
to file their proofs of debt.

Creditors and shareholders may direct their inquiries to:

          Logan Nicholls
          Levels 11-16
          Deloitte House
          10 Brandon Street
          Wellington
          Telephone: (04) 472 1677
          Facsimile: (04) 472 8023


HB PROPERTY: Proofs of Debt Due on September 12
-----------------------------------------------
In accordance with Section 241 of the Companies Act 1993, the
shareholders of HB Property Holdings Limited appointed John Trevor
Whittfield and Peri Micaela Finnigan, insolvency practitioners of
Auckland, as liquidators on Aug. 1, 2008.

The liquidators set Sept. 12, 2008, as the last day for creditors
to file their proofs of debt.

The company's liquidators can be reached at:

          McDonald Vague
          PO Box 6092
          Wellesley Street
          Auckland 1141
          Telephone: (09) 303 0506
          Facsimile: (09) 303 0508
          Website: www.mvp.co.nz


MIA HOLDINGS: Proofs of Debt Due on September 12
------------------------------------------------
In accordance with Section 241 of the Companies Act 1993, the
shareholder of Mia Holdings Limited appointed John Trevor
Whittfield and Peri Micaela Finnigan, insolvency practitioners of
Auckland, as liquidators on Aug. 1, 2008.

The liquidators set Sept. 12, 2008, as the last day for creditors
to file their proofs of debt.

The company's liquidators can be reached at:

          McDonald Vague
          PO Box 6092
          Wellesley Street
          Auckland 1141
          Telephone: (09) 303 0506
          Facsimile: (09) 303 0508
          Website: www.mvp.co.nz


OPERATORS R: Proofs of Debt Due on September 8
----------------------------------------------
Pursuant to section 241(2)(a) of the Companies Act 1993, Damien
Grant and Steven Khov, insolvency practitioners, were appointed as
liquidators of Operators R Us Limited on Aug. 7, 2008.

The liquidators set Sept. 8, 2008, as the last day for creditors
to file their proofs of debt.

The company's liquidators can be reached at:

          Waterstone Insolvency
          PO Box 352
          Auckland
          Freephone: 0800CLOSED
          Facsimile: 0800FAXWSI


SUPERBOWL LTD: Liquidators Set September 12 as Claims Bar Date
--------------------------------------------------------------
Pursuant to Section 241(2)(c) of the Companies Act 1993,
Roderick T. McKenzie and Lyn M. Carey, of McKenzie & Partners
Limited, Chartered Accountants, Palmerston North, were appointed
liquidators of Superbowl Limited on July 21, 2008.

The liquidators set Sept. 12, 2008, as the last day for creditors
to file their proofs of debt.

Creditors and shareholders may direct their inquiries to:

          McKenzie & Partners Limited
          Level 1
          484 Main Street (PO Box 12014)
          Palmerston North
          Telephone: (06) 354 9639
          Facsimile: (06) 356 2028


* NEW ZEALAND: Housing Consents Trend Falls Steadily
----------------------------------------------------
Building consent statistics for July 2008 show the trend for the
number of new housing units has been declining since June 2007,
Statistics New Zealand said.  The trend has fallen 35 percent
since that month.

The trend for the total value of residential building consents
also continues to decline from its peak in June 2007.

There were 1,410 new housing units authorised in July 2008.  This
is the second-lowest monthly total since February 2001 - the
lowest total since then was recorded in June 2008.

Residential building consents issued in July 2008 were valued at
NZ$491 million, down NZ$188 million from July 2007.  Non-
residential building consents were valued at NZ$349 million, down
NZ$4 million from July 2007.

For the year ended July 2008, the value of consents issued for
residential buildings fell NZ$712 million, while non-residential
buildings rose NZ$218 million, compared with the year ended July
2007.



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

DAIKIN INDUSTRIES: Creditors' Proofs of Debt Due on September 29
----------------------------------------------------------------
The creditors of Daikin Industries Management Services (Asia) Pte
Ltd are required to file their proofs of debt by September 29,
2008, to be included in the company's dividend distribution.

The company's liquidator is:

          Lau Chin Huat
          c/o 6 Shenton Way
          #32-00 DBS Building Tower Two
          Singapore 068809


INSURE SHOP: Creditors' Meeting Set for September 5
---------------------------------------------------
The creditors of Insure Shop Insurance Agency Pte Ltd, which is in
compulsory liquidation, will hold a meeting on September 5, 2008,
at 10:00 a.m.

At the meeting, the creditors will be asked to:

   -- receive an update on the conduct of the administration from
      the liquidator;

   -- consider the appointment of a Committee of Inspection
      pursuant to Section 277 of the Companies Act (Cap. 50); and

   -- consider any other matters which may properly be brought
      before the meeting.

The company's liquidator is:

          Abuthahir Abdul Gafoor
          c/o 1 Raffles Place
          #20-02 OUB Centre
          Singapore 048616


NHG GULF: Requires Creditors to File Claims by September 29
-----------------------------------------------------------
NHG Gulf Pte Ltd, which is in compulsory liquidation, requires its
creditors to file their proofs of debt by September 29, 2008, to
be included in the company's dividend distribution.

The company's liquidator is:

          Tam Chee Chong
          6 Shenton Way
          #32-00, DBS Building Tower Two
          Singapore 068809


YEN KEE: Wind-Up Petition Hearing Set for September 5
-----------------------------------------------------
A petition to have Yen Kee Pte. Ltd.'s operations wound up will be
heard before the High Court of Singapore on September 5, 2008, at
10:00 a.m.

Singapore Food Industries Limited filed the petition against the
company on August 12, 2008.

Singapore Food's solicitor is:

          Messrs P. Tan & Company
          133 New Bridge Road
          #15-07 Chinatown Point
          Singapore 059413



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

* THAILAND: Moody's Sees Stable Ratings Outlook
-----------------------------------------------
Moody's Investors Service says in a Special Comment that the
country retains strong enough credit fundamentals to justify the
current stable outlook on its Baa1 sovereign ratings.

"At the same time, escalating political uncertainties -- in view
of the stand-off between protestors and the country's coalition
government -- do pose a threat to not only the democratically
elected government of Prime Minister Samak Sundaravej, but also to
long-term economic stability," says Thomas Byrne, the Singapore-
based Senior Vice President in Moody's Sovereign Risk Group.

Previously, in the aftermath of the September 2006 coup that had
ousted democratically elected Prime Minister Thaksin, Thailand's
policy framework had proven durable and the country's fiscal and
external credit fundamentals remained intact, although a full
restoration of investor confidence proved elusive.

"However, the rise in political uncertainty over the past couple
of months -- coupled with a mixed economic performance -- is
clouding the economic horizon, making a restoration of investor
confidence even doubtful in the near future," says Mr. Byrne.

"The occupation of Government House and the siege of the Phuket
and Krabi airports by the so-called People's Alliance for
Democracy (PAD) calls into question not only the viability of
democracy in Thailand, but also the political neutrality of the
court system, which has failed to enforce its own injunction
against the actions of the PAD," says Mr. Byrne.

"If counter-demonstrations by the ruling-party friendly Democratic
Alliance Against Dictatorship match the intensity and
disruptiveness of the PAD, then a polarization could intensify to
the point where political stability is jeopardized, so raising the
specter of intervention again by the army," says Mr. Byrne.

Mr. Byrne also says that more stress seems to be building up on
Thailand's external payments position than compared with what
happened in the wake of the September 2006 coup, and official
foreign exchange reserves are declining from their May peak,
although they are still large enough to cushion against any shocks
related to foreign creditor confidence in the near term.

"In conclusion, the escalation of political disturbances has
introduced new uncertainties which compound the economic
challenges facing Thailand, as well as other Southeast Asian
economies, from the deterioration in global economic conditions,"
says Mr. Byrne.

Mr. Byrne was speaking on conjunction with the release of a
Moody's special comment -- which he authored -- on the outlook for
Thailand.  The report is entitled, "Thailand's Political
Uncertainties Overshadow Its Economic Challenges," and can be
found at http://www.moodys.com.



===============
X X X X X X X X
===============


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

                   Featured Conference

           Oct. 30-31, 2008
           Physician Agreements & Ventures
           The Millennium Knickerbocker Hotel - Chicago
           Brochure will be available soon!

                     *      *      *

           Beard Audio Conferences presents

           Bankruptcy and Restructuring Audio Conference CDs

           More information and list of available titles at:
   http://beardaudioconferences.com/bin/topics?category_id=BAR

                     *      *      *


Sept. 4-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Complex Financial Restructuring Program
         Four Seasons, Las Vegas, Nevada
            Contact: http://www.abiworld.org/

Sept. 4-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Southwest Bankruptcy Conference
         Four Seasons, Las Vegas, Nevada
            Contact: http://www.abiworld.org/

Sept. 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Networking Breakfast
         Marriott, Bridgewater, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Sept. 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Dallas / Fort Worth Restructuring Workshop
         Belo Mansion Dallas, Texas
            Contact: www.turnaround.org

Sept. 11, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Lenders Forum
         TBD, Long Island, New York
            Contact: www.turnaround.org

Sept. 11-12, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Mid-America Regional Conference
         Oak Brook Hills Marriott Resort, Oak Brook, Illinois
            Contact: www.turnaround.org

Sept. 11-14, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Cross Border Conference
         Grand Okanagan Resort, Kelowna, British Columbia
            Contact: www.turnaround.org

Sept. 12, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      ABI/GULC Views from the Bench
         Georgetown University Law Center, Washington, DC
            Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 16-18, 2008
   ASSOCIATION OF INSOLVENCY &RESTRUCTURING ADVISORS
      2nd Annual Restructuring & Investing Conference
         Shanghai, China
            Contact: http://www.airacira.org/

Sept. 17, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Real Estate / Condo Restructuring Panel
         Marriott North, Fort Lauderdale, Florida
            Contact: www.turnaround.org/

Sept. 18, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Joint Event - CFA/IWIRC/RMA/NJTMA/NYIC
      Maplewood Country Club, Maplewood, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Sept. 18, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Chapter Lunch Program
         Nashville City Center, Nashville, Tennessee
            Contact: 615-850-8678 or www.turnaround.org

Sept. 18, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Healthcare Industry Update - Panel Discussion
         Summit Club, Birmingham, Alabama
            Contact: www.turnaround.org

Sept. 18, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Effective Turnarounds: A View From US Trustees
         TBA, Syracuse, New York
            Contact: www.turnaround.org

Sept. 18-19, 2008
   AMERICAN CONFERENCE INSTITUTE
      Advanced Insolvency Law and Practice Conference
         Paris, France
            Contact: www.americanconference.com

Sept. 24, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      13 Week Cash Flow Workshop: An Overview
         McCormick & Schmick's, Las Vegas, Nevada
            Contact: www.turnaround.org

Sept. 24-25, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Florida Annual Golf Tournament
         Champions Gate Golf Club, Orlando, Florida
            Contact: 561-882-1331 or www.turnaround.org

Sept. 24-26, 2008
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING
CONFEDERATION
      IWIRC 15th Annual Fall Conference
         Scottsdale, Arizona
            Contact: http://www.ncbj.org/

Sept. 24-27, 2008
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Desert Ridge Marriott, Scottsdale, Arizona
            Contact: http://www.iwirc.org/

Sept. 25, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Case Study with Tom Kim, TMA Small Business of the Year
         Turnaround Award - TMA Arizona Chapter Meeting
            TBD, Phoenix, Arizona
               Contact: www.turnaround.org

Sept. 26, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      NCBJ/ABI Educational Program
         Marriott Desert Ridge, Scottsdale, Arizona
            Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 30, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Private Equity Panel
         Centre Club, Tampa, Florida
            Contact: www.turnaround.org/

Oct. 3, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      ABI/UMKC Midwestern Bankruptcy Institute
         H. Roe Bartle Hall Convention Center, Kansas City
            Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 9, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Luncheon - Chapter 11
         University Club, Jacksonville, Florida
            Contact: http://www.turnaround.org/

Oct. 13, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Consumer Bankruptcy Conference
         Standard Club, Chicago, Illinois
            Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 14, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual Charity Golf Event
         Forest Park Golf Course, St. Louis, Missouri
            Contact: www.turnaround.org

Oct. 16, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Billiards Networking Night
         Herbert's Billiards, Secaucus, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Oct. 16, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      LI-TMA Member Social
         Davenport Press, Mineola, New York
            Contact: 631-251-6296 or www.turnaround.org

Oct. 16, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Meeting
         TBD, Calgary, Alberta
            Contact: 503-768-4299 or www.turnaround.org

Oct. 16, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      View from the Bench - Bankruptcy Update
         Summit Club, Birmingham, Alabama
            Contact: www.turnaround.org

Oct. 16, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      How to Contract with a Turnaround Manager
         University Club, Portland, Oregon
            Contact: www.turnaround.org

Oct. 22, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Turnaround Nevada Award Night
         McCormick & Schmick's, Las Vegas, Nevada
            Contact: www.turnaround.org

Oct. 23, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Arizona Chapter Meeting - Election Oriented
         TBD, Phoenix, Arizona
            Contact: www.turnaround.org

Oct. 23, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Effective Turnarounds: A Panel of Professionals
         TBA, Rochester, New York
            Contact: www.turnaround.org

Oct. 23-24, 2008
   AMERICAN CONFERENCE INSTITUTE
      Distressed Assets Boot Camp
         TBD, London, United Kingdom
            Contact: www.americanconference.com

Oct. 28, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      State of the Capital Markets
         Citrus Club, Orlando, Florida
            Contact: www.turnaround.org/

Oct. 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott New Orleans, Louisiana
            Contact: 312-578-6900; http://www.turnaround.org/

Oct. 29-30, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Corporate Governance Meetings
         Marriott, New Orleans, Louisiana
            Contact: www.turnaround.org

Oct. 30 & 31, 2008
   BEARD GROUP & RENAISSANCE AMERICAN CONFERENCES
      Physicians Agreements and Ventures
            Contact: 800-726-2524; 903-595-3800;
               www.renaissanceamerican.com

Oct. 31, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      International Insolvency Symposium
         Hilton, Frankfurt, Germany
            Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 6, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Networking Breakfast
         Coach House Diner & Restaurant, Hackensack, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Nov. 11, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Detroit Consumer Bankruptcy Conference
         Marriott, Troy, Michigan
            Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Turnaround Case Study
         Summit Club, Birmingham, Alabama
            Contact: www.turnaround.org

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Effective Turnarounds:A View From Workout Consultants
         TBA, Buffalo, New York
            Contact: www.turnaround.org

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      LI-TMA Social
         TBD, Melville, New York
            Contact: 631-251-6296 or www.turnaround.org

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Dinner Meeting
         TBD, Calgary, Alberta
            Contact: 503-768-4299 or www.turnaround.org

Nov. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Special Program
         Tournament Players Club at Jasna Polana, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Nov. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Interaction Between Professionals in a
Restructuring/Bankruptcy
         Bankers Club, Miami, Florida
            Contact: 312-578-6900; http://www.turnaround.org/

Nov. 20, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Senior Housing & Long Term Care
         Washington Athletic Club,Seattle, Washington
            Contact: www.turnaround.org

Nov. 27, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Arizona Chapter Meeting - Chris Kaup
         TBD, Phoenix, Arizona
            Contact: www.turnaround.org

Dec. 3, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Party
         McCormick & Schmick's, Las Vegas, Nevada
            Contact: 702-952-2480 or www.turnaround.org

Dec. 3, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Christmas Function
         Terminal City Club, Vancouver, British Columbia
            Contact: 503-768-4299 or www.turnaround.org

Dec. 3-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      20th Annual Winter Leadership Conference
         Westin La Paloma Resort & Spa
            Tucson, Arizona
               Contact: http://www.abiworld.org/

Dec. 8, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Gathering
         TBD, Long Island, New York
            Contact: 631-251-6296 or www.turnaround.org

Dec. 9, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday MIxer
         Washington Athletic Club, Seattle, Washington
            Contact: 503-768-4299 or www.turnaround.org

Dec. 11, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday MIxer
         University Club, Portland, Oregon
            Contact: 503-768-4299 or www.turnaround.org

Dec. 18, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday MIxer
         TBD, Phoenix, Arizona
            Contact: 623-581-3597 or www.turnaround.org

Dec. 31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Sponsorships - Annual Golf Outing, Various Events
         TBA, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Jan. 21-22, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      Corporate Governance Meetings
         Bellagio, Las Vegas, Nevada
            Contact: www.turnaround.org

Jan. 22-23, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      Distressed Investing Conference
         Bellagio, Las Vegas, Nevada
            Contact: www.turnaround.org

Jan. 22-23, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Rocky Mountain Bankruptcy Conference
         Westin Tabor Center, Denver, Colorado
            Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 5-7, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Caribbean Insolvency Symposium
         Westin Casurina, Grand Cayman Island, AL
            Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 25-27, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Valcon
         Four Seasons, Las Vegas, Nevada
            Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 13, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Bankruptcy Battleground West
         Beverly Wilshire, Beverly Hills, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 17-18, 2009
   NATIONAL ASSOCIATION OFBANKRUPTCY TRUSTEES
      NABT Spring Seminar
         The Peabody, Orlando, Florida
            Contact: http://www.nabt.com/

Apr. 20, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Consumer Bankruptcy Conference
         John Adams Courthouse, Boston, Massachusetts
            Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 27-28, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      Corporate Governance Meetings
         Intercontinental Hotel, Chicago, Illinois
            Contact: www.turnaround.org

Apr. 28-30, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         Intercontinental Hotel, Chicago, Illinois
            Contact: www.turnaround.org

May 7-10, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      27th Annual Spring Meeting
         Gaylord National Resort & Convention Center
            National Harbor, Maryland
               Contact: http://www.abiworld.org/

May 14-16, 2009
   ALI-ABA
      Chapter 11 Business Reorganizations
         Langham Hotel, Boston, Massachusetts
            Contact: http://www.ali-aba.org

June 11-13, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa
            Traverse City, Michigan
               Contact: http://www.abiworld.org/

June 21-24, 2009
   INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
      BANKRUPTCY PROFESSIONALS
         8th International World Congress
            TBA
               Contact: http://www.insol.org/

July 16-19, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Mt. Washington Inn
            Bretton Woods, New Hampshire
               Contact: http://www.abiworld.org/

Sept. 10-12, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      17th Annual Southwest Bankruptcy Conference
         Hyatt Regency Lake Tahoe, Incline Village, Nevada
            Contact: http://www.abiworld.org/

Oct. 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, Arizona
            Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      21st Annual Winter Leadership Conference
         La Quinta Resort & Spa, La Quinta, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 15-18, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Annual Spring Meeting
         Gaylord National Resort & Convention Center, Maryland
            Contact: 1-703-739-0800; http://www.abiworld.org/

June 17-20, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa, Traverse City, Michigan
            Contact: 1-703-739-0800; http://www.abiworld.org/

July 7-10, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Ocean Edge Resort, Brewster, Massachusetts
            Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 5-7, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Mid-Atlantic Bankruptcy Workshop
         Hyatt Regency Chesapeake Bay, Cambridge, Maryland
            Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

Dec. 2-4, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Camelback Inn, Scottsdale, Arizona
            Contact: 1-703-739-0800; http://www.abiworld.org/

BEARD AUDIO CONFERENCES
   2006 BACPA Library
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   BAPCPA One Year On: Lessons Learned and Outlook
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Calpine's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Carve-Out Agreements for Unsecured Creditors
      Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changes to Cross-Border Insolvencies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changing Roles & Responsibilities of Creditors' Committees
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   China's New Enterprise Bankruptcy Law
      Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Clash of the Titans -- Bankruptcy vs. IP Rights
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Coming Changes in Small Business Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Corporate Bankruptcy Bootcamp: A Nuts & Bolts Primer
      for Navigating the Restructuring Process
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Dana's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Deepening Insolvency – Widening Controversy: Current Risks,
      Latest Decisions
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Diagnosing Problems in Troubled Companies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Claims Trading
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Market Opportunities
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Real Estate under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Employee Benefits and Executive Compensation under the New
      Code
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Equitable Subordination and Recharacterization
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Examining the Examiners: Pros and Cons of Using
      Examiners in Chapter 11 Proceedings
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Fundamentals of Corporate Bankruptcy and Restructuring
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Handling Complex Chapter 11
      Restructuring Issues
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Healthcare Bankruptcy Reforms
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   High-Yield Opportunities in Distressed Investing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Homestead Exemptions under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Hospitals in Crisis: The Insolvency Crisis Plaguing
      Hospitals Across the U.S.
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   IP Rights In Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   KERPs and Bonuses under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   New 'Red Flag' Identity Theft Rules
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Non-Traditional Lenders and the Impact of Loan-to-Own
      Strategies on the Restructuring Process
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Partnerships in Bankruptcy: Unwinding The Deal
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Privacy Rights, Protections & Pitfalls in Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Real Estate Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Reverse Mergers—the New IPO?
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Second Lien Financings and Intercreditor Agreements
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Surviving the Digital Deluge: Best Practices in E-Discovery
      and Records Management for Bankruptcy Practitioners
         and Litigators
            Audio Conference Recording
               Contact: 240-629-3300;
                  http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Technology as a Competitive Advantage For Today's Legal
Processes
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Battle of Green & Red: Effect of Bankruptcy
      on Obligations to Clean Up Contaminated Property
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Subprime Sector Meltdown:
      Legal Developments and Latest Opportunities
         Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Twenty-Day Claims
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Using Virtual Data Rooms to Expedite Corporate Restructuring
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Using Virtual Data Rooms to Expedite M&A and Insolvency
Proceedings
      Audio Conference Recording
          Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Validating Distressed Security Portfolios: Year-End Price
      Validation and Risk Assessment
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   When Tenants File -- A Landlord's BAPCPA Survival Guide
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.




                         *********

Tuesday's edition of the TCR-AP delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-AP editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Tuesday
Bond Pricing table is compiled on the Friday prior to
publication.  Prices reported are not intended to reflect actual
trades.  Prices for actual trades are probably different.  Our
objective is to share information, not make markets in publicly
traded securities.  Nothing in the TCR-AP constitutes an offer
or solicitation to buy or sell any security of any kind.  It is
likely that some entity affiliated with a TCR-AP editor holds
some position in the issuers' public debt and equity securities
about which we report.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR-AP. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

Friday's edition of the TCR-AP features a list of companies with
insolvent balance sheets obtained by our editors based on the
latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical
cost net of depreciation may understate the true value of a
firm's assets.  A company may establish reserves on its balance
sheet for liabilities that may never materialize.  The prices at
which equity securities trade in public market are determined by
more than a balance sheet solvency test.


                            *********


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

Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland, USA.  Marites M. Claro, Rousel Elaine C. Tumanda,
Valerie C. Udtuhan, Marie Therese V. Profetana, Frauline S.
Abangan, and Peter A. Chapman, Editors.

Copyright 2008.  All rights reserved.  ISSN: 1520-9482.

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

TCR-AP subscription rate is US$625 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are US$25 each.  For subscription information, contact
Christopher Beard at 240/629-3300.





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