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       T R O U B L E D   C O M P A N Y   R E P O R T E R

                   A S I A   P A C I F I C

            Tuesday, February 12, 2002, Vol. 5, No. 30

                         Headlines

A U S T R A L I A

AUSTRALIAN MAGNESIUM: Releases Half-Yearly Report
BRISBANE BRONCOS: BB Sports Bid Declared Unconditional
PRESTON RESOURCES: Issues Second Quarter Activities Report
TRITON CORPORATION: Discloses Capital Reorganization Circular
WATER WHEEL: Posts Case Profile

WAIVCOM WORLDWIDE: Shell Precondition Sale Extended


C H I N A   &   H O N G  K O N G

401 HOLDINGS: Requests Trading Suspension
AUSTPACIFIC INVESTMENTS: Winding Up Sought By Alan John
BENEFIT RISE: Winding Up Petition Pending
GLORIA SKY: Petition To Wind Up Scheduled
HONMIN INVESTMENTS: Winding Up Petition Hearing Set

VASEN HOLDINGS: Winding Up Petition To Be Heard
WING LEE: Rights Issue Resolution Passed at SGM
WORLD CHANNEL: Winding Up Petition Set For Hearing


I N D O N E S I A

ASTRA INTERNATIONAL: To Sell Telecom Unit to Telkom
BARITO PACIFIC: Vigorously Defends Bank Niaga's Bankruptcy Suit
BERDIKARI SARI: IBRA, Holdiko Close Deal With ATS Consortium


J A P A N

KOTOBUKIYA CO: Seeking Rehab Sponsors; Fires 13,000 Workers
NISHI-NIPPON: Lowers Rating To E; Outlook Negative
SNOW BRAND: Nestle Refuses Capital Injection Comment
SNOW BRAND: Denies Pulling Out Of Milk Business
TOSHIBA CORP: Moody's Rates Y30B Unsecured Bonds `Baa1'


K O R E A

DAEWOO MOTOR: GM Seeks Fewer Assets
DAEWOO GROUP: KAMCO Disposing of W4.7T Bad Loans
HYNIX SEMICONDUCTOR: Alliance Proposal Submission Pending
SSANGYONG CEMENT: Choong Ang, IVY to Acquire Ailing Units


M A L A Y S I A

ARTWRIGHT HOLDINGS: Proposes Strategic Alliance With Steelcase
CYGAL BERHAD: Proposals Submitted to Relevant Authorities
LAND & GENERAL: Unit's Winding Up Petition Pending
MALAYSIAN TOBACCO: Awaits KLSE's Time Extension Decision
MAY PLASTICS: Posts Jan 2002 Defaulted Payments

MBF CAPITAL: Subsidiaries Obtain Restraining Order Extension
MYCOM BERHAD: Submits Amended Scheme to SC
PARK MAY: Requests Suspension of Trading
REKAPACIFIC BERHAD: March 4 Adjourned Annual General Meeting Set
TAT SANG: Unit PPSB Faces Winding Up Petition

TECHNO ASIA: Moratorium Period Extended For 12 Months
TECHNOLOGY RESOURCES: Recapitalization Plan Completed
UH Dove: CDRC Supports Debt Workout Exercise


P H I L I P P I N E S

NATIONAL POWER: US$156M Debt Settlement Scheduled This Year


S I N G A P O R E

CAM INTERNATIONAL: Incurs FY2001 S$3M Loss
CAPITALAND LIMITED: Issues 2001 Financial Statement Notice
FHTK HOLDINGS: Posts Notice of Shareholder's Interest
KOH BROTHERS: Posts Director's Shareholding Notice
WEE POH: Gets Creditors' Nod on Scheme Of Arrangement


T H A I L A N D

EMC PUBLIC: Informs Of Ordinary Shares Issuance to Creditors
OLYMPIA THAI: Files Business Reorganization Petition
PROPERTY PERFECT: Posts Capital Increase Form
RATTANA REAL: Releases Meeting No.1/2002 Resolutions
THAI TELEPHONE: Issues Warrant Exercise Report

     -  -  -  -  -  -  -  -

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


AUSTRALIAN MAGNESIUM: Releases Half-Yearly Report
-------------------------------------------------
Australian Magnesium Corporation Limited (AMC) has released its
half yearly accounts for the six months to 31 December 2001.

KEY FEATURES & OUTLOOK:

The key features of AMC's activities and financial performance
are:

* STANWELL MAGNESIUM PROJECT (SMP): The successful completion in
November of the $525 million capital raising and board approval
to commence project development. The first project contract was
awarded for site wide engineering services in November 2001.

* QUEENSLAND MAGNESIA (QMAG): Record magnesite production and
record magnesia production and sales. QMAG's operating loss was
reduced from $2.9 million to $1.5 million and net cash flow of
$2.6 million was generated.

* FINANCE & CORPORATE: AMC's consolidated loss for the six
months was $3.1 million and in line with budget expectations.
The QMAG foreign exchange hedge book and QMAG borrowings were
restructured in November 2001.

The outlook and focus for AMC for the remainder of the financial
year is as follows:

* STANWELL MAGNESIUM PROJECT: To commence site works at Stanwell
in the March quarter and award approximately $800 million worth
of contracts during the March and June quarters, thus providing
greater certainty on expected capital numbers. To expand AMC's
marketing and customer support programmes through the
development of additional alliances and magnesium product
development sponsorship.

* QUEENSLAND MAGNESIA: To sustain higher production and sales
and maintain sales margins despite a softening in world demand
for refractory grade magnesia. To continue the strong growth in
calcined magnesia sales to broaden QMAG's earnings. To develop a
new mine plan for Kunwarara to optimize QMAG and SMP magnesite
requirements.

INTERIM RESULTS COMMENTARY:

On 16 November 2001, AMC successfully closed the $525 million
capital raising associated with a $1.9 billion funding
programmed for the Stanwell Magnesium Project. This was the
culmination of almost three years of debt, equity and government
negotiations and the fulfillment of a decade-long vision to
commence development of the world's largest and among the lowest
operating cost magnesium plants. This activity had a major
impact on the Company's financial accounts, balance sheet and
cash flow.

The key features of AMC's interim results are:

FINANCIAL PERFORMANCE: AMC's consolidated loss for the six
months to 31 December 2001 was $3.1 million, compared with $11.3
million in the previous corresponding half year. In the December
2001 half, AMC booked $5.3 million in foreign exchange
provisions compared with $9.4 million in the previous
corresponding period. Total sales revenue for the six months to
31 December 2001 increased 33 per cent to $43.5 million
reflecting organic growth in QMAG's sales base, but also the
change in foreign exchange receipts as a consequence of a
restructuring of the QMAG foreign exchange arrangements.

QMAG CONTRIBUTION: Record magnesia production and magnesia sales
assisted an improvement in QMAG's operating contribution. For
the period under review, magnesia production rose 8.2 per cent
to 98,528 tonnes and magnesia sales increased 17 per cent to
98,305 tonnes. QMAG reduced its operating loss from $2.9 million
to $1.5 million and generated net cash flow of $2.6 million.

CASH FLOW: AMC's cash flow includes the effect of the public
equity offer for the Stanwell Magnesium Project, the repayment
of a number of working capital facilities and the restructuring
of the QMAG debt facilities and foreign exchange hedge book. The
cash flow statement does not bring to account the funding
facilities yet to be drawn down for the development of Stanwell.
QMAG increased its borrowings by $33.4 million to $72 million
and applied the new funds to restructure its foreign exchange
hedge book. In addition, $20 million from the proceeds of the
equity offer were used to restructure the hedge book. AMC
invested $55.3 million in the Stanwell Magnesium Project during
the half inclusive of a number of operational and corporate
expenses related to AMC's debt and equity fundraising
activities.

BALANCE SHEET: Total net assets have increased by $212 million
since 31 December, 2000. Of the $525 million sought through the
prospectus offer, $328 million was received as the first
installment with a further $197 million due in January 2003.
AMC's current and non-current interest bearing liabilities
include borrowings by QMAG of $72 million and $117 million in
loan notes associated with Distribution Entitled Securities.

OUTLOOK COMMENTARY:

SHAREHOLDER MEETING: On 28 February 2002, a meeting of
shareholders will be held to seek approval for a number of
funding arrangements between AMC and Normandy Mining Limited. As
outlined in AMC's October prospectus, a number of contractual
commitments between AMC and the State of Queensland, the
Commonwealth Government and the Stanwell Magnesium Project
lenders are conditional on shareholder approval of the funding
arrangements between AMC and Normandy. A notice of meeting,
explanatory memorandum and independent expert's report were
issued on 29 January 2002.

PROJECT DEVELOPMENT: AMC expects a number of major project
milestones will be achieved in the coming months with the award
of engineering and construction contracts to the value of some
$800 million, thus providing greater certainty on expected
capital numbers. Full construction mobilization is expected in
the third quarter of 2002.

MAGNESIUM ALLIANCES: AMC is continuing to progress marketing
programmes to support the development and adoption of new
magnesium components in the automotive sector. A number of
industry, customer support and marketing alliance initiatives
are being pursued.

QMAG PERFORMANCE: QMAG's focus is to sustain its production rate
at 200,000 tonnes per annum and maintain its sales margins
despite a softening in world demand for refractory grade
magnesia. QMAG intends to continue its growth in the calcined
magnesia market to broaden its earnings base. A new mine plan
will he developed for Kunwarara to optimize QMAG's and the
Stanwell Magnesium Project's magnesite requirements.

CONSOLIDATED PROFIT AND LOSS ACCOUNT
                                        CURRENT     PREVIOUS
                                        PERIOD   CORRESPONDING
                                                 PERIOD
                                        AUD000       AUD000

1.1  Revenues from ordinary activities      44,706       33,158

1.2  Expenses from ordinary activities
     (see items 1.24 + 12.5 + 12.6)        (46,053)     (43,116)

1.3  Borrowing costs                        (1,779)      (1,305)

1.4  Share of net profit (loss) of
     associates and joint venture
     entities (see item 16.7)                     -            -

1.5  Profit (loss) from ordinary
     activities before tax                  (3,126)     (11,263)

1.6  Income tax on ordinary
     activities (see note 4)                      -            -

1.7  Profit (loss) from ordinary
     activities after tax                   (3,126)     (11,263)

1.8  Profit (loss) from extraordinary
     items after tax (see item 2.5)               -            -

1.9  Net profit (loss)                      (3,126)     (11,263)

1.10 Net profit (loss) attributable to
     outside equity interests                     -            4

1.11 Net profit (loss) for the period
     attributable to members                (3,126)     (11,267)

     Total revenues, expense and valuation
     adjustments attributable to members of
     the parent entity and recognized
     directly in equity
     - Costs of equity issue 22/11/2001     (25,095)           -

     Total change in equity other than
     those resulting from transactions
     with owners as owners                 (28,221)     (11,267)

CONSOLIDATED RETAINED PROFITS

1.12 Retained profits (accumulated losses)
     at the beginning of the financial
     period                               (133,925)    (117,052)

1.13 Net profit (loss) attributable to
     members (item 1.11)                    (3,126)     (11,267)

1.14 Net transfers (to) and from reserves         -            -

1.15 Net effect of changes in accounting
     policies                                     -            -

1.16 Dividends and other equity distributions
     paid or payable                              -            -

1.17 Retained profits (accumulated losses)
     at end of financial period           (137,051)    (128,319)

PROFIT RESTATED TO EXCLUDE AMORTISATION
OF GOODWILL

1.18 Profit (loss) from ordinary activities
     after tax before outside equity
     interests (items 1.7) and amortization
     of goodwill                            (3,126)     (11,263)

1.19 Less (plus) outside equity interests         -            4

1.20 Profit (loss) from ordinary activities
     after tax (before amortization of
     goodwill) attributable to members      (3,126)     (11,267)

PROFIT (LOSS) FROM ORDINARY ACTIVITIES
ATTRIBUTABLE TO MEMBERS

1.21 Profit (loss) from ordinary activities
     after tax (item 1.7)                   (3,126)     (11,263)

1.22 Less (plus) outside equity interests         -            4

1.23 Profit (loss) from ordinary activities
     after tax, attributable to members     (3,126)     (11,267)

REVENUE AND EXPENSES FROM ORDINARY ACTIVITIES

AASB 1004 requires disclosure of specific categories of revenue
and AASB 1018 requires disclosure of expenses from ordinary
activities according to either their nature of function.
Entities must report details of revenue and expenses from
ordinary activities using the layout employed in their accounts.
See also items 12.1 to 12.6

                                          Current      Previous
                                          Period   Corresponding
                                                   Period
                                          AUD000       AUD000

1.24 Details of revenue and expenses

     Revenue:
     Sale of goods                           43,457       32,604
     Interest received                        1,198          479
     Proceeds                                     -           15
     Other revenue                              51           60
                                             44,706       33,158
     Expenses:
     Cost of Sales                           37,436       21,247
     Inventory net realizable value             188        1,794
      adjustment
     Exploration                                 46           48
     Foreign Exchange Losses                  5,259        9,394
     Borrowing Costs                          1,779        1,305
     Other expenses from ordinary activities  3,124          633
                                             47,832       44,421

INTANGIBLE AND EXTRAORDINARY ITEMS

                                 Consolidated  -  current period

                           Before   Related   Related     Amount
                            tax      tax     outside     (after
                                              equity       tax)
                                         interests  attributable
                                                      to members

                         AUD000    AUD000    AUD000      AUD000

2.1 Amortization of
    goodwill                   -         -         -          -

2.2 Amortization of
    other intangibles          -         -         -          -

2.3 Total amortization
    of intangibles             -         -         -          -

2.4 Extraordinary items        -         -         -          -
              (details)

2.5 Total extraordinary
    items                      -         -         -          -


COMPARISON OF HALF YEAR PROFITS             Current     Previous
(Preliminary final report only)              year        year
                                             AUD000       AUD000
3.1  Consolidated profit (loss) from
     ordinary activities after tax
     attributable to members reported
     for the 1st half year (item 1.23
     in the half yearly report)                 N/A          N/A

3.2  Consolidated profit (loss)
     from ordinary activities after tax
     attributable to members for the 2nd
     half year                                  N/A          N/A


CONSOLIDATED BALANCE SHEET
                            At end of  As in last    As in last
                            current     annual     half yearly
                            period      report      report
                            AUD000       AUD000       AUD000
      CURRENT ASSETS
4.1   Cash                     268,696       11,450       12,817
4.2   Receivables               15,632        8,594       11,374
4.3   Investments                   -            -            -
4.4   Inventories               16,562       12,120       13,804
4.5   Other - FX hedge losses    9,591        1,785            -
              deferred
      Other - Loan Note distri- 14,380            -            -
              bution prepayment
      Other                      1,850          646        1,490

4.6   Total current assets     326,711       34,595       39,485

      NON-CURRENT ASSETS
4.7   Receivables                    -            -            -
4.8   Investments (equity
      accounted)                 6,876        6,876        6,784
4.9   Other investments              -            -            -
4.10  Inventories                    -            -            -
4.11  Exploration and evaluation
      expenditure capitalised
      (see para.71 of AASB 1022) 5,968        5,968        5,968
4.12  Development properties
      (mining entities)              -            -            -
4.13  Other property, plant and
      equipment (net)           82,705       85,866       90,468
4.14  Intangibles (net)
         - refer attachement         -            -            -

4.15  Other - Stanwell Magnesium
               Project         283,905      256,508      167,855
      Other - FX hedge losses
               deferred         15,667          168        1,605
      Other                     10,627        4,111        2,683

4.16  Total non-current assets 405,748      359,497      341,580

4.17  Total assets             732,459      394,092      381,065

      CURRENT LIABILITIES
4.18  Payables                  26,003       24,035       12,869
4.19  Interest bearing
      liabilities               43,161        6,000        6,000
4.20  Provisions                 2,959        4,789       18,342
4.21  Other (provide details if
      material)                      -            -            -

4.22  Total current liabilities 72,123       34,824       37,211

      NON-CURRENT LIABILITIES
4.23  Payables                     457            -            -
4.24  Interest bearing
      liabilities              181,817       71,525      109,869
4.25  Provisions                 2,834       24,191       11,297
4.26  Other - deferred revenue 39,226       39,226            -

4.27  Total non-current
      liabilities              224,334      134,942      121,166

4.28  TOTAL LIABILITIES        296,457      169,766      158,377

4.29  NET ASSETS               436,002      224,326      222,688

      EQUITY
4.30  Capital/contributed equity  570,303   345,506      345,506
4.31  Reserves                      2,750     2,750        2,750
4.32  Retained profits
      (accumulated losses)      (137,051) (133,925)    (128,319)
4.33  Equity attributable to
      members of the parent
      entity                      436,002   214,331      219,937
4.34  Outside equity interests in
      controlled entities               -    9,995        2,751

4.35  Total equity                436,002   224,326      222,688

4.36  Preference capital included
      as part of 4.33                   -        -            -

EXPLORATION AND EVALUATION EXPENDITURE CAPITALISED
To be completed only by entities with mining interests if
amounts are material. Include all expenditure incurred
regardless of whether  written off directly against profit.
                                           Current     Previous
                                           period  corresponding
                                                   period
                                           AUD000       AUD000

5.1  Opening balance                          5,968        5,968

5.2  Expenditure incurred
     during current period                      46           48

5.3  Expenditure written off
     during current period                     (46)         (48)

5.4  Acquisitions, disposals,
     revaluation increments, etc.                 -            -

5.5  Expenditure transferred to
     Development Properties                       -            -

5.6  Closing balance as shown in
     the consolidated balance sheet
     (item 4.11)                              5,968        5,968


DEVELOPMENT PROPERTIES
(To be completed only by entities with mining interests if
amounts are material)
                                           Current     Previous
                                           period  corresponding
                                                       period
                                            AUD000       AUD000

6.1  Opening balance                              -            -

6.2  Expenditure incurred
     during current period                        -            -

6.3  Expenditure transferred from
     exploration and evaluation                   -            -

6.4  Expenditure written off
     during current period                        -            -

6.5  Acquisitions, disposals,
     revaluation increments, etc.                 -            -

6.6  Expenditure transferred to
     mine properties                              -            -

6.7  Closing balance as shown in
     the consolidated balance sheet
     (item 4.12)                                  -            -

CONSOLIDATED STATEMENT OF CASH FLOWS

                                           Current     Previous
                                           period  corresponding
                                                       period
                                           AUD000       AUD000
CASH FLOWS RELATED TO OPERATING ACTIVITIES

7.1   Receipts from customers                45,243      37,167

7.2   Payments to suppliers and
      employees                            (46,065)    (33,923)

7.3   Dividends received from
      associates                                  -           -

7.4   Other dividends received                    -           -

7.5   Interest and other items
      of similar nature received              1,207         455

7.6   Interest and other costs of
      finance paid                          (2,075)     (1,767)

7.7   Income taxes paid                           -           -

7.8   Other - restructure of QMAG FX facilities (52,710)      -
            - other receipts                     51          105

7.9   Net operating cash flows            (54,349)       2,037

CASH FLOWS RELATED TO INVESTING ACTIVITIES

7.10  Payment for purchases of property,
      plant and equipment                   (1,258)     (1,971)

7.11  Proceeds from sale of property, plant
      and equipment                               -          14

7.12  Payment for purchases of equity
      investments                                 -        (27)

7.13  Proceeds from sale of equity
      investments                                 -           -

7.14  Loans to other entities- refer attachements     -       -

7.15  Loans repaid by other entities              -           -

7.16  Other - Stanwell Magnesium Project   (55,394)    (14,435)
            - exploration & project evaluation
              expenditure                      (46)       (431)

7.17  Net investing cash flows             (56,698)    (19,350)

CASH FLOWS RELATED TO FINANCING ACTIVITIES

7.18  Proceeds from issues of securities
      (shares, options, etc.)               180,938           -

7.19  Proceeds from borrowings              256,645      18,000

7.20  Repayment of borrowings
      - loan note distribution trust a/c   (14,380)           -
      - QMAG debt (syndicate banks)         (8,625)      (2,500)
      - other                               (3,387)         (13)

7.21  Dividends paid                              -           -

7.22  Other - debt origination fees
              (loan notes + bank debt)    (12,898)           -

7.23  Net Financing Cash Flows             368,293      15,487

7.24  NET INCREASE (DECREASE) IN CASH HELD  257,246     (1,826)

7.25  Cash at beginning of period            11,450      14,643
      (see Reconciliation of cash)

7.26  Exchange rate adjustments to item
      7.25                                        -           -

7.27  Cash at end of period
      (see Reconciliation of cash)          268,696      12,817

NON-CASH FINANCING AND INVESTING ACTIVITIES
Details of financing and investing transactions which have had a
material effect on consolidated assets and liabilities but did
not involve cash flows are as follows. If an amount is
quantified, show comparative amount.

A loan facility with Normandy Finance Ltd (a related party) with
a balance of $27.821 million was converted to equity (ordinary
shares were issued to Normandy Mining Limited). Shares in AMO
were purchased from Fluor Australia Pty Ltd by the issue of $9
million of AMC ordinary shares.

RECONCILIATION OF CASH

Reconciliation of cash at the end of        Current     Previous
the period (as shown in the consolidated  period   corresponding
statement of cash flows) to the related                period
items in the accounts is as follows.        AUD000     AUD000

8.1  Cash on hand and at bank                22,846      2,216

8.2  Deposits at call                       102,202      1,125

8.3  Bank overdraft                               -          -

8.4  Other - Bank Bills                    143,648      9,476

8.5  Total cash at end of
     period (item 7.27)                     268,696     12,817

RATIOS                                     Current     Previous
                                          period   corresponding

period
     PROFIT BEFORE TAX / REVENUE
9.1  Consolidated profit (loss) from
     ordinary activities before tax
     (item 1.5) as a percentage of
     revenue (item 1.1)                       (7.0) %   (34.0) %

     PROFIT AFTER TAX / EQUITY INTERESTS
9.2  Consolidated net profit (loss) from
     ordinary activities after tax
     attributable to members (item 1.9)
     as a percentage of equity (similarly
     attributable) at the end of the
     period (item 4.33)                    (0.7) %       (5.1) %

EARNINGS PER SECURITY (EPS)                 Current     Previous
                                          period   corresponding
                                                         period
10.1 Calculation of the following
     in accordance with AASB 1027:
     Earnings per Share

    (a)  Basic EPS                         (1.62) c    (10.77) c

    (b)  Diluted EPS (if materially         N/A c        N/A c
         different from (a))

    (c)  Weighted average number of
         ordinary shares outstanding
         during the period used in
         the calculation of the
         Basic EPS                     193,254,419  104,644,751

NTA BACKING                               Current     Previous
(see note 7)                             period   corresponding
                                                      period
11.1 Net tangible asset backing
     per ordinary security                   N/A c        N/A c


BRISBANE BRONCOS: BB Sports Bid Declared Unconditional
------------------------------------------------------
BB Sports Pty Limited announced that it will increase its bid
for the Brisbane Broncos Limited by 1 cent to 18 cents and
declare it unconditional.

The offer applies to 50 percent of individual holdings, and in a
further benefit to shareholders, payment will be sent within
five business days of receipt of a valid acceptance.

News Limited's chief executive officer, Mr John Hartigan, said
the improved BB Sports bid would create additional certainty for
Broncos shareholders.

"News Limited remains committed to securing stable and focused
management for the Broncos, one of rugby league's greatest
teams. We believe that only majority control by News can ensure
that," he said.

"We firmly believe the BB Sports' bid is the best outcome for
all shareholders as the Magic Millions offer is subject to
conditions which could see that offer withdrawn.

"News Limited does not presently intend to accept the current
Magic Millions offer and given our existing 45.53% holding, we
believe shareholders will have to carefully consider how likely
it is that Magic Millions bid condition will be satisfied.

"Under its offer Magic Millions can withdraw its bid if it does
not gain 45 percent of all shareholdings. It is our view that it
is unlikely Magic Millions will achieve this.

"Only BB Sports has an unconditional commitment," Mr Hartigan
aid.

Released by News Limited Corporate Affairs
For further information, contact:
Kristine Neill Tel 02 9288 3274


PRESTON RESOURCES: Issues Second Quarter Activities Report
----------------------------------------------------------
Preston Resources Limited issues its second quarter activities
report:

HIGHLIGHTS
BULONG OPERATIONS

* A semi-annual scheduled maintenance shutdown was completed
successfully.

* Plant performance has continued to improve since completion of
the shutdown.

* A standstill Agreement has been executed by secured creditors.

BULONG OPERATIONS

INTRODUCTION

Preston's wholly owned subsidiary, Bulong Operations Pty Ltd
manages the Bulong project, located 30 kilometers east of
Kalgoorlie, Western Australia.

Following is a summary of the Bulong operational activities for
the quarter ending December 2001. Detailed operational and
financial performance can be obtained from monthly reports
previously lodged with the ASX and is also available from our
website (www.prestonres.com.au). Principal production statistics
are shown in the attached table.

SAFETY AND ENVIRONMENT

The Company continued its focus on safety monitoring and
reporting to identify hazards prior to them becoming incidents
or accidents.

Environmental monitoring has also been very effective in
ensuring that Bulong's impact on the environment remains
consistent with statutory requirements. No environmental
incidents requiring reporting to statutory authorities occurred
during the quarter.

METALLURGICAL PERFORMANCE

153,323 dry tonnes of ore were fed to the leach plant during the
quarter. A total of 1,449 tonnes of nickel, 31.2 tonnes of
cobalt and 55.2 tonnes of cobalt in cobalt sulphide were
produced. Leach extractions for nickel and cobalt were 91.99%
and 91.3% respectively.

LEACH PLANT

97,694 tonnes of ore was treated during the quarter. This
compares with 118,791 tonnes processed in the preceding quarter.
Plant throughput was lower as a result of the six monthly
scheduled shut down that occurred in November. Other than for
the impact on throughput caused by the shutdown the leach plant
achieved good performance during the quarter.

Six monthly shutdowns are undertaken to descale the autoclave
and provide preventative maintenance to plant components that
cannot be serviced under normal operating conditions. During the
shutdown the autoclave was found to be in good condition and
scale accumulation was minimal.

REFINERY

Refinery performance improved as a result of a the impact of
both a change-out of the organic inventory in nickel solvent
extraction and an increase in the concentration of the cobalt
extractant. This has improved metal quality, recovery and
reduced soluble losses from both the nickel and cobalt solvent
extraction circuits.

MARLBOROUGH NICKEL PROJECT

The Marlborough nickel project, located on the central
Queensland coast, 75km north west of Rockhampton, hosts one of
the largest nickel deposits in the world, with a global resource
of 210 mt grading, 1.02% nickel and 0.06% cobalt contained
within ten separate deposits.

The project remains on care and maintenance.

CORPORATE

The secured creditors of Bulong Operations Pty Ltd executed a
Standstill Agreement, comprising any action that may be taken as
a result of Bulong Operations P/L default on Senior Secured
Notes. The note holders, together with Barclays (Bulong
Operations P/L bankers) agreed the terms of compromise of
secured debt ("the Term Sheet"). The Term Sheet will form the
basis of a Scheme of Arrangement to be put before the Western
Australian Supreme Court in the near future. The Scheme will
provide a means by which the Bulong Project can move
forward. Unsecured creditors are not party to the Scheme but
will be advantaged by the increased financial stability afforded
by the Scheme.

Upon completion of the documentation for the Scheme of
Arrangement, Preston shareholders will be provided with all
material information as required to enable them to make an
informed decision on two proposals. The proposals will be;

1. To disposal of 95% of the issued capital of Bulong Operations
Pty Ltd in accordance with the Term Sheet; and
2. To accept the proposed Scheme of Arrangement.

Information in this report that relates to Mineral Resources or
Ore Reserves is based on information compiled by Adrian Griffin
who is a Member of the Australian Institute of Mining and
Metallurgy. Adrian Griffen is a full-time employee of Bulong
Operations Pty Ltd and has sufficient experience, which is
relevant to the style of liberalization and type of deposits
under consideration and to the activity undertaken to qualify as
a competent person as defined in the 1999 Edition of the
"Australian Code for Reporting of Mineral Resources and Ore
Resources".

PRODUCTION STATISTICS              DEC 2001 QTR       2001/2002
                                                  FINANCIAL YTD

Mine Production (High Grade)   t      153,323           252,147
Nickel Grade                   %         1.73              1.71
Cobalt Grade                   %         0.15              0.14

PROCESSING

Ore leached                    t       97,694           216,486
Nickel                         %        1.702              1.76
Cobalt                         %        0.132              0.13

AUTOCLAVE EXTRACTIONS

Nickel                         %       91.91              92.0
Cobalt                         %       91.25              91.3
Nickel Leached                 t      1688.6            4303.6
Cobalt Leached                 t       121.1             297.8

REAGENT USAGE

Acid                        kg/t ore     465               445
Limestone                   kg/t ore   131.8              1.32

METAL PRODUCED

Nickel                         t        1449            3140.4
Cobalt                         t        31.2            114.83
Cobalt in Cobalt Sulphide      t        55.2             63.28

PROCESS INVENTORY

Nickel                         t         240               258
Cobalt                         t        18.9             13.75


TRITON CORPORATION: Discloses Capital Reorganization Circular
-------------------------------------------------------------
Participating Organizations are advised that subject to
shareholder approval the reorganization of capital for Triton
Corporation Limited (the Company) will be effective from Tuesday
12 February 2002.

The reorganization is by way of consolidating every 7.5 fully
paid ordinary shares in the capital of the Company into one
fully paid ordinary share.

Fractions will be rounded up.

This timetable will apply.

11 February 2002            Shareholder approval.
12 February 2002            Trading would normally commence in
                            the reorganized securities on a
                            deferred basis.
                            ASX Code:TRE
18 February 2002            Last day for the Company to
                            register transfers on a pre-
                            reorganization basis.
19 February 2002            First day for the Company to
                            register securities on a post
                            reorganization basis.
25 February 2002            Dispatch date. Deferred settlement
                            trading ends, ASX
                            Code:TRE
26 February 2002            Normal T+3 trading would normally
                            commence.
1 March 2002                Settlement of trades conducted on
                            a T+3 basis.

The securities of the Company remain suspended.

ASX Contact:            Jill Hewitt
Business Unit           Companies Perth
Ext No:                 6023
Date:                   11 February 2002


WATER WHEEL: Posts Case Profile
-------------------------------
Water Wheel Mills Pty Ltd posted its case profile:

Territory :  Australia
Company Name:  Water Wheel Mills Pty Ltd
Lead Partner:  Nick Brooke
Case Manager:  Stephen Longley
Date of Appointment:  17 February 2000
Normal Contact  :  Lisa Foster
Contact Phone No  :  (03) 8603 6069

PwC Office

Location :  Melbourne
PO Box :  GPO Box 1331L
Street Address:  215 Spring Street
City  :  MELBOURNE
State  :  VIC
Postcode :  3000
DX  :  DX 77 Melbourne
Phone  :  (03) 8603 1000
Fax  :  (03) 8603 6044
Appointor :  in writing under the common seal of the company
Company No / CAN  :  004 032 473
Type of Appointment:  Administrator
Lead Partner - Full Name :  Nicholas Brooke
Second Partner - Full Name :  Christopher Thomas Daly

Case Information (Last Updated 27/12/2001 10:34:46 AM)

Other Key Information

Report as to Affairs received from directors:

A Report as to Affairs was received from the directors following
the appointment of the Administrators. This document has been
lodged with the Australian Securities and Investments Commission
and can be viewed at their offices in Melbourne.

Dates of trading by insolvency practitioner:

The administrators/deed administrators traded the various
businesses of the company from 17 February 2000 to 18 August
2000.

Business sold/ceased trading:

On 16 June 2000, the rice mill was sold to Goodman Fielder Mills
Limited. On 30 June 2000, the flour mill was sold to Laucke
Flour Mills Pty Ltd and on 18 August 2000, the stockfeed mill
was sold to Colac Stockfeeds Pty Ltd. These companies continue
to operate the former Water Wheel businesses.

Job closure:
Not applicable at this time.

Background Information

Water Wheel Mills Pty Ltd is the trading arm of the Water Wheel
Group of companies, which comprises the listed parent entity,
Water Wheel Holdings Limited and two other non-trading
subsidiaries of Water Wheel Holdings Limited, Water Wheel
Exports Pty Ltd and Roy Raggatt Pty Ltd.

Water Wheel Mills Pty Ltd (Water Wheel) operated a flour mill,
rice mill and stockfeed mill on one site in Bridgewater,
Victoria. The company had been involved in flour milling since
the nineteenth century, added stockfeed milling to its
operations during the 1960s and the rice mill in 1997. Water
Wheel Holdings Limited was listed on the Australian Stock
Exchange in 1961.

On 17 February 2000, the directors of Water Wheel appointed
Chris Daly and Nick Brooke (partners of PricewaterhouseCoopers)
as joint and several administrators of all companies in the
group. At a meeting of creditors on 9 June 2000, it was resolved
that Water Wheel Mills Pty Ltd and Water Wheel Holdings Limited
would each enter into a Deed of Company Arrangement. Nick Brooke
and Chris Daly were appointed joint and several Deed
Administrators on that date. It was also resolved that Water
Wheel Exports and Roy Raggatt be placed into liquidation. To be
fulfilled, the Deeds required the sale of all three of the mills
and a minimum return of 10 cents in the dollar to unsecured
creditors. Water Wheel Exports and Roy Raggart have been placed
in liquidation.

Current status of assignment and actions required by creditors

An interim dividend of 10 cents in the dollar was declared on 10
April 2001 and paid to creditors on 19 June 2001.
Any creditors who lodged proofs of debt but are yet to receive a
dividend cheque should contact Lisa Foster of this office as all
payments were made to creditors' ast known addresses. Those
creditors who have not submitted a Formal Proof of Debt form are
not entitled to a dividend, however, if such a form is lodged,
together with documentation substantiating their claim, and the
Deed Administrator admits their claim, they will be entitled to
a dividend. Please note that this amount may not be 10 cents in
the dollar as their claim may not have been taken into account
when the 10 cent dividend was calculated.

Creditors may be aware that the Australian Securities and
Investments Commission is conducting its own investigation into
the actions of the directors of the group. Whilst the Deed
Administrators have assisted the ASIC by making company records
available, all enquiries regarding this investigation should be
directed to the ASIC.

Next milestone and estimated timetable

There is a possibility that a further dividend of between 3 and
5 cents in the dollar may be payable by 31 March 2002.

Likely outcome for creditors and timetable

At this stage, it is possible to estimate the value or timing of
a final dividend as between 3 and 5 cents in the dollar but this
is not to be taken as any form of guarantee at this time. Any
such dividend is dependent upon the outcome of protracted
deliberations concerning several claims by creditors in the
company and also the result of the Water Wheel Holdings Limited
administration. (www.pwcrecovery.com)


WAIVCOM WORLDWIDE: Shell Precondition Sale Extended
---------------------------------------------------
N Brooke, Deed Administrator Of Waivcom Worldwide Limited,
advised that the Deed Administrators and Verona Capital Pty Ltd
have agreed to a further extension for completion of the
preconditions from 6 February 2002 to 13 February 2002.

Waivcom Worldwide Limited is listed on the ASX but its
securities are currently suspended from trading and have been
since 16 March 2001.  Waivcom has a 50 percent interest in Hotel
Link Management Pty Ltd but this was placed into liquidation on
8 March 2001 by order of the Victorian Supreme Court.


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


401 HOLDINGS: Requests Trading Suspension
-----------------------------------------
401 Holdings Limited (the Company), requested trading in its
shares to be suspended with effect from 10:00 a.m. Monday
(11/February/2002) pending the release of an announcement
regarding the result of the court hearing of a petition filed
against the Company.


AUSTPACIFIC INVESTMENTS: Winding Up Sought By Alan John
-------------------------------------------------------
Alan John Brink is seeking the winding up of Austpacific
Investments Limited.  The petition was filed on November 26,
2001, and was heard before the High Court of Hong Kong on
February 6, 2002 at 9:30 am 2002.

Alan John Brink's registered office is situated at Room 510, The
Bay Bridge, No. 123 Castle Peak Road, Tsuen Wan, New
Territories, Hong Kong.


BENEFIT RISE: Winding Up Petition Pending
-----------------------------------------
Benefit Rise Limited is facing a winding up petition, which is
slated to be heard before the High Court of Hong Kong on April
6, 2002 at 9:30 am.  The petition was filed on January 7, 2002
by Wing Hang Bank Limited, whose registered office is situated
at 161 Queen's Road Central, Hong Kong.


GLORIA SKY: Petition To Wind Up Scheduled
-----------------------------------------
The petition to wind up Gloria Sky Company Limited was set for
hearing before the High Court of Hong Kong on February 6, 2002
at 11:00 am.

The petition was filed with the court on September 20, 2001 by
Lee Tai Bleaching & Dyeing Factory Limited, whose registered
office is situated at Unit 6, 14th Floor, Phase 2, Block D,
Tsing Yi Industrial Centre, Tsing Yi, New Territories, Hong
Kong.


HONMIN INVESTMENTS: Winding Up Petition Hearing Set
---------------------------------------------------
The petition to wind up Honmin Investments Limited was heard
before the High Court of Hong Kong on February 6, 2002 at 9:30
am.

The petition was filed with the court on November 27, 2001 by
Bank of China (Hong Kong) Limited (the successor corporation to
The National Commercial Bank Limited pursuant to Bank of China
(Hong Kong) Limited (Merger) Ordinance (Cap. 1167) of 14th
Floor, Bank of China Tower, 1 Garden Road, Central, Hong Kong.


VASEN HOLDINGS: Winding Up Petition To Be Heard
-----------------------------------------------
The petition to wind up Vasen Holdings Limited is scheduled for
hearing before the High Court of Hong Kong on March 13, 2002 at
9:30 am.  The petition was filed with the court on December 21,
2001 by Bank of China (Hong Kong) Limited whose registered
office is situated at 14th Floor, Bank of China Tower, 1 Garden
Road, Central, Hong Kong.


WING LEE: Rights Issue Resolution Passed at SGM
-----------------------------------------------
The Directors of Wing Lee Holdings Limited (the Company),
further to the announcement dated 31st December, 2001
(Announcement) and the circular of the Company dated 21st
January, 2002 (Circular), announced that the resolution
approving the Rights Issue was passed by the Independent
Shareholders at the SGM held on 8th February, 2002.

The Prospectus Documents were dispatched to the Qualifying
Shareholders and, for information only, to the Overseas
Shareholders (other than the provisional allotment letters and
forms of application for excess Rights Shares) on 8th February,
2002. Copies of the Prospectus Documents and the consent letter
of Ernst & Young have been registered with the Registrar of
Companies in Hong Kong as required by Section 342C of the
Companies Ordinance of Hong Kong and have been filed with the
Registrar of Companies in Bermuda in accordance with the
requirements of the Companies Act 1981 of Bermuda.

The Latest Time for Acceptance for and payment of, the Rights
Shares is 4:00 p.m. on Friday, 1st March, 2002. It should be
noted that the Underwriter has the right to terminate the
arrangements set out in the Underwriting Agreement in respect of
the Rights Issue which right is exercisable by the Underwriter
at any time prior to 4:00 p.m. on the third business day
following the Latest Time for Acceptance of the Rights Issue on
the occurrence of certain events. If the Underwriter terminates
the Underwriting Agreement, the Rights Issue will not proceed.
The latest time for the Rights Issue to become unconditional is
4:00 p.m. on Wednesday, 6th March, 2002.

ADJUSTMENTS TO NUMBER AND EXERCISE PRICE OF THE SHARE OPTIONS

Pursuant to the share option scheme adopted by the Company on
18th March, 1997, the Company has granted Share Options to the
Directors and employees of the Company and as at the Latest
Practicable Date, (i) Share Options (the "Group I Options") to
subscribe for up to 900,000 Shares at an exercise price of
HK$2.675 per Share and (ii) Share Options (the "Group II
Options") to subscribe for up to 3,700,000 Shares at an exercise
price of HK$1.22 per Share (both the number of Shares to be
subscribed for and exercise price are subject to adjustments)
were outstanding. The issue of the Rights Shares will cause an
adjustment to the exercise price and the number of Shares to be
subscribed for. The new number of Shares to be subscribed for
and the new exercise price for the Group I Options will be
1,800,000 Shares and HK$1.3375 respectively while the new number
of Shares to be subscribed for and the new exercise price for
the Group II Options will be 7,400,000 Shares and HK$0.61
respectively, both subject to the Rights Issue becoming
unconditional.

The Company's auditors, Ernst & Young, have certified to the
Directors that such adjustments have been calculated on a fair
and reasonable basis in accordance with the terms of the share
option scheme constituting the Group I Options and the Group II
Options. The adjustment to the number of Share Options does not
result in giving the participants a higher proportion of equity
capital of the Company upon the full exercise of the Share
Options than that they are previously entitled.


WORLD CHANNEL: Winding Up Petition Set For Hearing
--------------------------------------------------
The petition to wind up World Channel Enterprises Limited is
scheduled to be heard before the High Court of Hong Kong on
March 20, 2002 at 9:30 am.

The petition was filed with the court on December 31, 2001 by
Goldvista Properties Limited whose registered office is situate
at P. O. Box 71, Craigmuir Chambers, Road Town, Tortola, British
Virgin Islands having its place of business in Hong Kong at 64th
Floor, Hopewell Centre, No. 183 Queen's Road East, Wanchai, Hong
Kong.


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


ASTRA INTERNATIONAL: To Sell Telecom Unit to Telkom
---------------------------------------------------
Astra International's telecom unit, Pramindo Ikat Nusantara,
entered an agreement with Telekomunikasi Indonesia to sell a
stake to the state-owned telecom operator, DebtTraders analysts,
Daniel Fan (852-2537-4111) and Blythe Berselli (1-212-247-5300),
report.

"Astra already divested 5% of its share in Pramindo for $9.75
million in June 2000. If we assume the valuation of Pramindo is
to be the same, Astra's remaining 35% stake in the joint-
operating scheme will be worth at least $68.3 million. The
parties will sign the agreement on February 1," according to Fan
and Berselli.

DebtTraders reports that Astra Overseas' 5.719 percent floating
rate note due on 2005 (ASTRA2) trades between 70 and 71.5. Go to
http://www.debttraders.com/price.cfm?dt_sec_ticker=ASTRA2for
real-time bond pricing.


BARITO PACIFIC: Vigorously Defends Bank Niaga's Bankruptcy Suit
---------------------------------------------------------------
The bankruptcy lawsuit filed against PT Barito Pacific Timber by
creditor Bank Niaga for failure to repay Rp400 billion in bonds
was "unacceptable", AFX-Asia reported quoting Barito Pacific's
Lawyer Hotman Paris Hutapea.

Hutapea claimed that any conflict under the parties' contract,
should be settled through national arbitration. He added that
the inability of the company to meet its obligation was partly
due to damage at one of its manufacturing plants in Maluku
province from an earthquake in 1998.

"We don't have any intention to default. We just cannot pay now
and seek to delay the payment," Barito Pacific Investor
Relations Manager Ariswinantyo said.

He added that under the restructuring agreement reached with the
bondholders last year, the maturity of the Rp400 billion bonds
originally due this April will be extended to Jan 10, 2007.


BERDIKARI SARI: IBRA, Holdiko Close Deal With ATS Consortium
------------------------------------------------------------
The Indonesian Bank Restructuring Agency (IBRA) and PT Holdiko
Perkasa (Holdiko), a holding company established pursuant to the
Shareholding Settlement Agreement between IBRA and the Salim
Group, announced the closing of the sale of PT Berdikari Sari
Utama Flour Mills (Berdikari).

The sale of PT Berdikari is a joint-sale between IBRA/Holdiko
and The State Ministry of State Owned Enterprises/PT Berdikari
(Persero). As announced by IBRA/Holdiko on 4 December 2001, a
combined shareholding in Berdikari of 92.55%, consisting of
Holdiko's 85.17% and BPM-PBUMN's 7.41% interests, was sold to
the ATS Consortium, for which IBRA/Holdiko received
approximately Rp225.3 billion, consisting of US$5.7 million for
equity and Rp165.9 billion for convertible loans.

"We are pleased to welcome US investments particularly in
Eastern Indonesia," said Dasa Sutantio, Deputy Chairman - AMI,
IBRA. "By returning this asset to the private sector, we hope to
assist in accelerating the process of economic recovery in the
region," he added.

"We are very happy to have the opportunity to invest and
participate in the growth of Eastern Indonesia," said consortium
leader Allan Harari, himself the Chairman of the American-
Indonesian Chamber of Commerce in New York. "I was very
satisfied with the professional and transparent manner in which
IBRA/Holdiko performed the disposal of this asset and will be
pleased to share my experience with other potential American
investors upon returning to the States."

ATS Consortium consists of (i) ATS Capital LLC, a
commodity/shipping broker based in the USA, and (ii)
Intermilling Holdings Ltd, the parent company of Gold Coin
Management Holding Ltd. and Interflour Holdings Ltd. The Gold
Coin and Interflour groups are among the leading animal feed
manufacturers and flour millers in Southeast Asia, operating
more than 20 production sites in China, Malaysia, Indonesia,
India, Sri Lanka, Thailand, Vietnam and Laos.

The sale of Berdikari was done through a two-tier open tender
process, which was publicly launched on 6 September 2001.
Invitations were sent out to 103 potential investors, of whom 23
investors signed a Confidentiality Agreement and 10 investors
submitted their preliminary bids. Following a due diligence
process in mid October to mid November 2001, 2 bidders submitted
their final bids on 28 November 2001, in which the ATS
Consortium submitted the highest bid. PT Ernst & Young
Consulting acted as financial advisor to Holdiko for this
transaction.

Berdikari is a wheat milling company located in Makassar (South
Sulawesi) with a current production capacity of 840,000 MT/year,
or about 15% of national capacity. In sales volumes terms,
Berdikari is Indonesia's second largest flour milling company
and dominates the flour market in the Eastern Part of Indonesia.

Berdikari divides its product lines into food flour (Kompas,
Gunung, Gembok and Gatotkaca brands), industrial & other flour
(Matahari brand) and by-products (bran, pollard and pellet).

Scott Coffey, Director of Holdiko, stated, "This is Holdiko's
last 2001 asset transaction to close. We are now focusing on the
preparation for selling all our remaining assets in 2002, as we
prepare to close down Holdiko." In the framework of the Master
Settlement Acquisition Agreement (MSAA), Holdiko has to repay
its obligation to IBRA by selling all of its assets and
transferring all proceeds by 4 November 2002. "This year we will
try our best to conduct 10-12 transactions to sell our remaining
33 companies," he further explained.

To date, Holdiko has raised a total Rp16.25 trillion from 32
asset sales, selling 75 (69.4%) of the 108 companies transferred
to Holdiko as part of the MSAA (Master Settlement Acquisition
Agreement) with the Government of Indonesia in September 1998.
Holdiko's weighted-average recovery rate to date is 48.6%.

PT Holdiko Perkasa was established in relation to the settlement
between the Salim Group and IBRA with regard to loans extended
by PT Bank Central Asia (BCA) to companies affiliated to the
Salim Group. As part of the settlement agreement with IBRA, the
Salim Group transferred shares and assets in more than 100
operating companies to PT Holdiko Perkasa.

As direct and indirect shareholder of these companies, it is
Holdiko's responsibility to supervise each individual company
with the aim of disposing of a sufficient amount of these
shareholdings. Holdiko will subsequently direct the disposal
proceeds to IBRA as part of the settlement agreement.

The Indonesian Bank Restructuring Agency (IBRA) is an agency of
the government of Indonesia established at the beginning of 1998
as the primary agency to oversee the rehabilitation of the
financial sector. IBRA is authorized to take over and control
troubled banks and dispose of their assets and collateral.


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


KOTOBUKIYA CO: Seeking Rehab Sponsors; Fires 13,000 Workers
-----------------------------------------------------------
Kotobukiya Co is seeking sponsors for its rehabilitation and has
laid off 13,000 employees Friday, Kyodo News reports. Although
the failed supermarket chain operator had planned to rehire at
least part of the workforce on Saturday, it said it has given up
the plan after failing to reach a deal with possible sponsors
that would allow the reopening of its stores.

Last week TCR-AP reported that all 134 Kotobukiya stores have
been forced to temporarily close, as product supplies have
stopped. The company recently filed for court protection from
creditors under the Civil Rehabilitation Law. Kotobukiya has
total debts of Y300 billion.


NISHI-NIPPON: Lowers Rating To E; Outlook Negative
--------------------------------------------------
Moody's Investors Service on Friday has lowered the bank
financial strength rating of Nishi-Nippon Bank (Nishi-Nippon) to
E from E+, its long-term deposit rating to Ba1 from Baa2, its
short-term deposit rating to Not Prime from Prime-2, its senior
unsecured debt rating to Ba2 from Baa3, and its subordinated
debt rating to B1 from Ba1. This concludes the review initiated
on October 17, 2001. The rating outlook remains negative.

The downgrade of Nishi-Nippon's bank financial strength rating
to E reflects Moody's view that there may be further erosion of
its already weak economic capital over the medium term, due to
continuing pressure from rising credit costs. Moody's expects
the bank's credit costs to increase from the deterioration of
its lending to local middle market borrowers facing serious
financial and operating problems, and the continued diminution
of collateral value. Moody's considers that both the scale and
pace of asset quality deterioration may go beyond the bank's
current estimate, given the unabated macro-economic
difficulties. Moody's believes that, despite the relative
attractiveness of the local market in retail banking, Nishi-
Nippon's pre-provision profits may not be sufficient to fully
absorb the credit cost pressure, due to the continued highly
competitive environment in Fukuoka.

The downgrades of long-term and short-term deposit ratings and
senior unsecured debt ratings reflect Moody's heightened
uncertainty over the level of systemic support Nishi-Nippon's
obligations may receive in a stress situation. At the same time,
however, the importance of the bank to the local economy and
financial settlement network is fully incorporated in the Ba1
deposit rating. The negative rating outlook reflects greater
uncertainty surrounding the potential impact from the
forthcoming change in the systemic support mechanism and
continuing financial pressures.

The following ratings were lowered:

Nishi-Nippon Bank, Limited - the bank financial strength rating
to E from E+, the long-term deposit rating to Ba1 from Baa2, the
short-term deposit rating to Not Prime from Prime-2, senior
unsecured debt rating to Ba2 from Baa3, subordinated debt rating
to B1 from Ba1.

Nishi-Nippon Bank is the second largest regional bank in Fukuoka
Prefecture with total asset size of around Y4.4 trillion.


SNOW BRAND: Nestle Refuses Capital Injection Comment
----------------------------------------------------
Nestle AG on Friday declined to comment on alleged talks with
Itochu Corp over Snow Brand Milk's capital injection, AFX News
reported on Friday. Mainichi Shimbun said both firms are
expected to discuss the possibility of jointly investing in Snow
Brand to aid bolster its business after having been affected by
a beef subsidy scam.

An unnamed Itochu spokesman denied any such discussions with
Nestle, Snow Brand or any other companies. Nestle and Snow Brand
Milk Products Co Ltd have a joint venture in Japan in the
segment of chilled dairy products, Nestle said.

According to Kyodo News on Saturday, parent firm Snow Brand Milk
Products Co is mulling forming an alliance with three other
domestic dairy business operators namely the National Federation
of Agricultural Cooperative Associations (Zenno), the National
Federation of Dairy Cooperative Associations (Zenrakuren) and
Kyodo Milk Industry Co.


SNOW BRAND: Denies Pulling Out Of Milk Business
-----------------------------------------------
Snow Brand Milk Products Co denied a report from Sankei Shimbun
newspaper that company aims to hand over its milk operations to
the National Federation of Agricultural Cooperative Associations
(Zenno) and quit its milk business entirely, Kyodo News reported
on Friday.

TCR-AP reported last week that Snow Brand Food will be divided
into four companies, including one specializing in the ham and
sausage business, due to a meat-labeling scandal. Company
officials stressed that the firm won't be able to survive
related to a loss of confidence by consumers toward meat. The
firm has notified 1,000 part time employees that they will be
fired by March 10.


TOSHIBA CORP: Moody's Rates Y30B Unsecured Bonds `Baa1'
------------------------------------------------------
Moody's Investors Service on Friday assigned a Baa1 rating to
Toshiba Corporation's (Toshiba) Y30 billion domestic unsecured
straight bonds due on 2005. The rating outlook is negative.

The negative rating outlook reflects Moody's concern that
Toshiba lacks a range of competitive products as profitable as
its DRAM and notebook PCs in the past.

The current steep downturn in the global IT market and a delay
in the restructuring of its DRAM (dynamic random access memory)
division have severely affected Toshiba's profitability.

Moody's considers that Toshiba will be able to manage its
profitability to some extent because it will withdraw from the
standard type DRAM, which has substantial price volatility.
However, Moody's believes it may take some time before products
products alone can sustain overall profitability. As a result,
Toshiba may continue to face earnings pressure in the
intermediate term.

Toshiba Corporation is the second-largest integrated electronics
company in Tokyo, Japan.


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


DAEWOO MOTOR: GM Seeks Fewer Assets
-----------------------------------
General Motors Corporation (GM) wants to acquire fewer overseas
units of Daewoo Motor Co. (DM) than it proposed in 2001, AP
Online said Friday. In a revised proposal submitted to the
state-run Korea Development Bank (KDB), GM offered Wednesday to
buy nine overseas subsidiaries in Europe.

Last year GM agreed to acquire two of three local DM plants and
24 overseas units, including two manufacturing facilities in
Egypt and Vietnam. The revised proposal was made after GM found
more debts and legal problems in other overseas Daewoo
affiliates outside Europe.

Spokesman Kay Lee of GM and Roh Yon-gi of KDB refused to comment
to comment on the issue.


DAEWOO GROUP: KAMCO Disposing of W4.7T Bad Loans
------------------------------------------------
State agency, Korea Asset Management Corp. (KAMCO), aims to
dispose of W4.7 trillion of the total W26.8 trillion in Daewoo
Group's bad loans by selling it to corporate restructuring
vehicles in 2002, Korea Herald reported on Sunday.

As of the end of 2001, the KAMCO held W42.7 trillion in bad
loans that it had purchased from domestic financial
institutions. In 2002, the Agency wants to buy an additional W9
trillion in bad loans. KAMCO will dispose of the W51.7 trillion
in bad loans over the next three years.


HYNIX SEMICONDUCTOR: Alliance Proposal Submission Pending
---------------------------------------------------------
Infineon Technologies of Germany is expected to submit an
alliance proposal involving Hynix Semiconductor by the end of
the week outlining the take-over price and deal structure, Korea
Herald reported Friday, citing an unnamed Hynix official.

The delegation examined Hynix's financial and accounting figures
at the firm's head quarters in southern Seoul on February 7 and
has started to inspect its factories in Icheon and Cheongju.
Both companies are focusing their talks on equity swap, cash
investment and establishment of a joint venture firm by merging
their DRAM units. The 16-member Infineon team is expected to
leave on February 9 and is likely to decide whether to sign a
memorandum of understanding (MOU) as soon as both firms reach an
agreement.


SSANGYONG CEMENT: Choong Ang, IVY to Acquire Ailing Units
---------------------------------------------------------
Choong Ang Paper Manufacturing and IVY will take over Ssangyong
Cement Industrial's ailing subsidiaries, Hanil Life Insurance
and Ssangyong Fire & Marine Insurance, Korea Herald reported
Sunday, citing the Financial Supervisory Commission (FSC). FSC
said that the two companies signed a memorandum of understanding
(MOU) with the parent company on Thursday and agreed to supply
W20 billion for Hanil Life's capital increase.

Choong Ang Paper and IVY's past attempts to take over Ssangyong
Fire & Marine and Hanil Life ended in failure, but they were
recently able to renew talks with the consent of the largest
shareholders of Ssangyong Cement in selling them off the two
insurance firms.


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


ARTWRIGHT HOLDINGS: Proposes Strategic Alliance With Steelcase
--------------------------------------------------------------
Alliance Merchant Bank Berhad (Alliance), on behalf of the Board
of Directors of Artwright Holdings Berhad (AHB or Company),
announced that the Company has entered into a Supplemental
Agreement for the Sale and Purchase of Assets (ASPA) with
Steelcase Artwright Manufacturing Sdn Bhd, formerly known as
Rengard Industries Sdn Bhd (Rengard), on 7 February 2002
pursuant to the ASPA dated 31 May 2001.

The Supplemental ASPA has been entered into to effect the
following:

   (a) amendments for the refinement of wording of certain
clauses, references and/or definitions in the ASPA that do not
involve alteration of the substance of the ASPA (including the
substitution of all references to Rengard with Rengard's new
name, Steelcase Artwright Manufacturing Sdn Bhd);

   (b) deletion of certain clauses, references and/or
definitions in the ASPA owing to redundancy that do not involve
alteration of the substance of the ASPA (including the deletion
of all clauses relating to and all references to the Promissory
Note that are no longer applicable);

   (c) amendments for the refinement of wording of certain
clauses, references and/or definitions in the ancillary
agreements annexed to the ASPA (that are to be entered into
pursuant to the completion of the proposed disposals of the
manufacturing assets by Artwright Technology Sdn Bhd and
Artwright Manufacturing Sdn Bhd, wholly owned subsidiaries of
AHB to Steelcase Artwright Manufacturing Sdn Bhd (Proposed
Disposals)) that do not involve alteration of the substance of
the ASPA; and

   (d) deletion of certain clauses and references in the
ancillary agreements annexed to the ASPA (that are to be entered
into pursuant to the completion of the Proposed Disposals) owing
to redundancy that do not involve alteration of the substance of
the ASPA.

In addition, Alliance, on behalf of the Board of Directors of
AHB, announced that, as at 8 February 2002, the ASPA (as amended
in the Supplemental ASPA) has been completed and the ancillary
agreements as detailed in the ASPA, namely, the Share
Subscription Agreement, the Joint Venture Agreement, the
Facility Agreement, the Artwright Contract Manufacturing
Agreement, the Distribution Agreement, the Share Charge
Agreement and the Tenancy Agreement have been duly executed.

The Supplemental ASPA and the ancillary agreements are available
for inspection at the Company's registered office, Suite 11.1A,
Level 11, Menara Weld, 76, Jalan Raja Chulan, 50200 Kuala Lumpur
during normal business hours from Monday to Friday (except for
public holidays) for a period of three (3) months from the date
of this announcement.


CYGAL BERHAD: Proposals Submitted to Relevant Authorities
---------------------------------------------------------
On behalf of Cygal Berhad (Cygal or the Company), Commerce
International Merchant Bankers Berhad (CIMB) announced that the
Proposals have been submitted to the relevant authorities on 8
February 2002 in pursuant to the requirement imposed under
Practice Note 4/2001 of the Listing Requirements of the KLSE
PN4.

The "PROPOSALS" refers to the following:

  * Proposed Share Exchange;

  * Proposed Debt Restructuring Comprising:

     (i) Proposed Financial Institutions Scheme;

     (ii) Proposed Non Financial Institutions Scheme; and

     (iii) Proposed Part Settlement of Amount Owing to an
Offshore Financial Institution;

  * Proposed Rights Issue;

  * Proposed Acquisition of Property Development Companies;

  * Proposed Employees' Share Option Scheme; and

  * Proposed Transfer of Listing Status from Cygal to a New
Investment Holding Company.


LAND & GENERAL: Unit's Winding Up Petition Pending
--------------------------------------------------
The Board of Directors of Land & General Berhad (the Company),
further to the announcement dated 31 October 2001 in relation to
the winding up petition on Lang Furniture (Selangor) Sdn Bhd, a
wholly-owned subsidiary of the Company, informed that the Court
has fixed the matter for decision on 22 March 2002.


MALAYSIAN TOBACCO: Awaits KLSE's Time Extension Decision
--------------------------------------------------------
Malaysian Tobacco Company Berhad (MTC or Company), further to
the Company's application on January 30 to the Kuala Lumpur
Stock Exchange (KLSE) for a further extension of one (1) month
from 12 February 2002 to 12 March 2002 to procure the remaining
requisite approvals for the Proposed Acquisition of Binariang
Satellite, announced that the KLSE's decision on the extension
of time application is still pending.

Background:

On 8 January 2002 Arab-Malaysian Merchant Bank Berhad (Arab-
Malaysian), on behalf of the Company, announced that the Kuala
Lumpur Stock Exchange (KLSE) has approved the Company's
application for a further extension of one (1) month from 12
January 2002 to 12 February 2002 to procure all approvals
necessary for the implementation of the Proposed Acquisition of
Binariang Satellite and a further extension of time of three (3)
months from 28 February 2002 to 31 May 2002 for the non-
suspension of trading in the Company's shares.

Subsequently, on 14 January 2002, Arab-Malaysian, on behalf of
the Company, announced that MGNS has submitted an appeal to the
Securities Commission (SC) against the moratorium condition
imposed on the 157,433,155 new MTC shares, which are to be
issued to MGNS pursuant to the Proposed Acquisition of Binariang
Satellite. The SC's decision on the appeal application is still
pending.

The "Proposals" refers to:

   * Proposed Acquisition of the Entire Equity Interest in
Binariang Satellite Systems Sdn Bhd (Binariang Satellite) by the
Company from Measat Global Network Systems Sdn Bhd (MGNS)
(Proposed Acquisition Of Binariang Satellite);

   * Proposed Disposal by Chelwood Trading & Investment Company
Limited of its Entire Equity Interest of 54.7% in MTC to MGNS;
and

   * Proposed Mandatory General Offer by MGNS for all the
Remaining Shares not Already Owned by Them in MTC.


MAY PLASTICS: Posts Jan 2002 Defaulted Payments
-----------------------------------------------
May Plastics Industries Berhad announced that there has been no
change to the status of default since the last announcement on 8
January 2002.  The defaults will be regularized after the
listing of and quotation for the entire issued and paid up share
capital of KSU Holdings Berhad on the Second Board of the KLSE.

The list of default payments as at 31 January 2002 is set in the
table at http://www.bankrupt.com/misc/TCRAP_May0211.gif


MBF CAPITAL: Subsidiaries Obtain Restraining Order Extension
------------------------------------------------------------
Alliance Merchant Bank Berhad, on behalf of the Board of
Directors of Mbf CAPITAL BERHAD (MBf Capital or Company),
announced that:

   (i) two (2) wholly owned subsidiary companies of MBf Capital,
namely MBf Leasing Sdn Bhd (MBf Leasing) and MBf Factors Sdn Bhd
(MBf Factors) had obtained an extension of the restraining order
under Section 176(10) of the Companies Act, 1965 (Act) from the
High Court of Malaya at Kuala Lumpur for a period of six (6)
months to 22 August 2002;

   (ii) MBf Leasing and MBf Factors had obtained an extension of
the order under Section 176(1) and 177 of the Act from the High
Court of Malaya at Kuala Lumpur for the court convened meetings
to be held by 31 July 2002; and

   (iii) MBf Capital had obtained an extension of the order
under Section 176(1) and 177 of the Act from the High Court of
Malaya at Kuala Lumpur for the court convened meetings to be
held by 31 July 2002.


MYCOM BERHAD: Submits Amended Scheme to SC
------------------------------------------
On behalf of Mycom Berhad (Mycom and/or the Company), Alliance
Merchant Bank Berhad has  made a submission to the Securities
Commission (SC) in relation to the Private Debt Securities (PDS)
proposed to be issued pursuant to the amended Proposed
Restructuring Scheme (Amended Scheme). This submission
complements the earlier submission on the amended Scheme made to
the SC as announced on 3 December 2001.

The proposed issuance of PDS consist of RM62,524,880 nominal
value of Redeemable Unsecured Loan Stocks, RM110,283,279 nominal
value of Irredeemable Convertible Bonds and RM357,857,465
nominal value of Irredeemable Convertible Unsecured Loan Stocks
pursuant to the amended Scheme.

In addition, a copy of the aforesaid submission has been
forwarded to Bank Negara Malaysia on the even date for their
information.

The Company also informed that the aforesaid submission could
only be made after all the necessary approvals had been obtained
recently from the regulatory authorities, namely Bank Negara
Malaysia, Foreign Investment Committee and the Ministry of
International Trade & Industry which announcements were made on
15 January 2002, 21 January 2002 and 28 January 2002
respectively.


PARK MAY: Requests Suspension of Trading
----------------------------------------
On behalf of Park May Berhad (ParkMay or the Company),
Aseambankers Malaysia Berhad announced that the Kuala Lumpur
Stock Exchange has approved the Company's request for suspension
of trading of its shares for three (3) market days from 14
February 2002 (Thursday) to 18 February 2002 (Monday) pending an
announcement to be released on 15 February 2002 by the Company
on a proposed acquisition exercise, which will result in a
reverse take-over and backdoor listing.

Profile

The Park May Group is principally involved in the public bus
transportation business. Its services can be broadly categorized
into stage bus and express bus services. It currently operates
stage buses in the Klang Valley via Tulus Hebat Sdn Bhd's
subsidiary Cityliner Sdn Bhd, in mainland Penang, northern
Perak, Seremban and its vicinity, and Kuantan. Park May's
express services under Plusliner and NICE are concentrated along
the North-South Expressway.

In 1999, Park May appointed a financial advisor and requested
the assistance of the Corporate Debt Restructuring Committee to
restructure its debts.

The debt restructuring scheme involves, amongst others elements,
a capital reduction exercise, the conversion of the Company's
indebtedness due to financial institutions into equity and bonds
and the debt-equity conversion for three of its unsecured main
suppliers, namely, Cycle & Carriage Bintang, Denso and
Transcoach. The SC's and shareholders' approval were obtained on
17 April 2000 and 2 August 2000 respectively. The Company had on
6 September 2000, obtained the sanction of the High Court of
Malaya for the proposed capital reduction and consolidation. The
scheme was deemed fully completed on 8 March 2001 upon the
listing of shares arising from the offer for sale by financial
institutions and conversion of main suppliers' debt into equity.


REKAPACIFIC BERHAD: March 4 Adjourned Annual General Meeting Set
----------------------------------------------------------------
Rekapacific Berhad announced that the Adjourned Twenty Eighth
Annual General Meeting of the Company will be held at Stanford I
Function Room, Stanford Hotel, No. 449, Jalan Tuanku Abdul
Rahman, 50100 Kuala Lumpur on Monday, 4 March 2002 at 9.30 a.m.
To see copy of Notice of Adjourned Annual General Meeting, go to
http://www.bankrupt.com/misc/TCRAP_Rekapacific0211.doc


TAT SANG: Unit PPSB Faces Winding Up Petition
---------------------------------------------
The Board of Directors of Tat Sang Holdings Berhad (TSHB or the
Company) announced that a winding up petition (Winding Up No,
28-261-2001) has been served on its subsidiary, Purnama Prima
Sdn. Bhd. (PPSB), a subsidiary of the company, by Fong Timber
Industries Sdn. Bhd. (FTISB) on 14 January 2002. The petition
was presented to the High Court at Johor Bahru on 10 December
2001. The hearing date for the winding up petition was fixed on
1 April 2002.

Under the petition, FTISB made a claim of RM125,236.16, the
outstanding balance of goods sold and delivered together with
interest thereon at the rate of 8% per annum from 1 August 2001
to the date of realization.

The Group's financial state and operations will not be severely
affected by the winding up petition and there shall be no
additional expected losses incurred except for additional legal
cost in defending the proceedings against PPSB. The cost of
investment in the subsidiary is RM1,467,405.

The Group has since appointed a solicitor to oppose the
petition.

The Board wishes to highlight that based on the solicitor's
letter dated 22 January 2002 to the solicitor of Messrs Fong
Timber Industries Sdn. Bhd., instructing the Creditors' Petition
to be withdrawn based on the terms and conditions given.
However, till-to-date, there has been no reply from them and
thus the Board decided to make an immediate announcement on the
winding up petition.


TECHNO ASIA: Moratorium Period Extended For 12 Months
-----------------------------------------------------
Techno Asia Holdings Berhad (TAHB or Company)(Special
Administrators (SA) Appointed) announced that on 2 February
2001, the SA were appointed to the Company and its subsidiary
company Prima Moulds Manufacturing Sdn Bhd (PMMSB) by Pengurusan
Danaharta Nasional Berhad (Danaharta) pursuant to Section 24 of
the Pengurusan Danaharta Berhad Act 1998 as amended by the
Pengurusan Danaharta Nasional Berhad (Amendment) Act 2000
(Danaharta Act or the Act).

Further on 23 February 2001, the Company announced that it is an
affected listed issuer pursuant to the requirements of PN 4/2001
based on the criteria and obligations of Paragraph 8.14 of the
KLSE Listing Requirements.

Subsequently on 30 April 2001, the SA were appointed to the
following TAHB's subsidiary companies:

   i) Litang Plantations Sdn Bhd (LPSB);
   ii) Ganda Plantations (Perak) Sdn Bhd (GPPSB);
   iii) Ganda Edible Oils Sdn Bhd (GEOSB);
   iv) Cempaka Sepakat Sdn Bhd (CSSB);
   v) Techno Asia Venture Capital Sdn Bhd (TAVCSB);
   vi) Wisma Dindings Sdn Bhd (WDSB); and
   vii) Mount Austin Properties Sdn Bhd (MAPSB).

On 2 January 2002, Arab-Malaysian Merchant Bank Berhad, on
behalf of the Company, announced that Danaharta has approved the
workout proposals of the following companies, which had been
prepared by the SA pursuant to Section 44 of the Act:

   a) Approvals by Danaharta pursuant to Section 46(4)(b) of the
Act:

     (i) GEOSB on 10 December 2001; and
     (ii) PMMSB on 14 December 2001.

   b) Approvals by Danaharta pursuant to Section 45(2) of the
Act:

     (i) LPSB, GPPSB, CSSB, TACVSB and WDSB on 10 December 2001;
and
     (ii) MAPSB on 14 December 2001.

Further on 28 December 2001, pursuant to Section 46(4)(a) of the
Act, the SA on behalf of LPSB, GPPSB, CSSB, TAVCSB and MAPSB
obtained approvals for the workout proposals from the respective
companies' secured creditors as defined by Section 21 of the
Danaharta Act.

Subsequently, Danaharta had on 28 January 2002, approved the
workout proposal of TAHB pursuant to Section 45(2) of the
Danaharta Act. The SA has also obtained the respective secured
creditors' approvals for the workout proposals of TAHB and WDSB
in accordance with Section 46(4)(a) of the Act on 6 February
2002.

On 6 February 2002, Arab-Malaysian Merchant Bank Berhad, on
behalf of TAHB and PMMSB, announced that the moratorium period
for TAHB and PMMSB has been extended for a further twelve (12)
months from 2 February 2002 to 1 February 2003 pursuant to
Section 41(3) of the Danaharta Act.

This announcement serves as the Requisite Announcement as
required under PN4/2001.

DETAILS OF THE WORKOUT PROPOSAL OF TAHB

On 7 August 2001 and 7 September 2001 respectively, Arab-
Malaysian Merchant Bank Berhad (Arab-Malaysian) on behalf of the
Company, had announced that TAHB had entered into a Memorandum
of Understanding (MOU) and a Principal Agreement respectively,
with Dr. Yu Kuan Chon (Investor) and Semai Warnasari Sdn Bhd
(Semai). The MOU and the Principal Agreement sets out the
intentions of the aforementioned parties to implement a
corporate restructuring exercise pending the finalization and
approval of the workout proposal of TAHB.

On 8 November 2001, Arab-Malaysian on behalf of the Company,
announced that TAHB had on 6 November 2001 signed a novation
agreement with the Investor, Semai and Giant Express Sdn Bhd
(the Transferee or GESB) (Novation Agreement). The Novation
Agreement was entered into pursuant to Clause 5 of the Principal
Agreement, which allows Semai to novate their rights, benefits
and obligations under the Principal Agreement to the Transferee,
subject to the approval of TAHB and the Investor.

The workout proposal of TAHB, which includes the proposed
restructuring scheme, details of which are as follows:

   a) Proposed reduction of the existing issued and paid-up
share capital of TAHB from RM207,597,589 comprising 207,597,589
ordinary shares of RM1.00 each (Share) to RM5,189,940 comprising
207,597,589 ordinary shares of RM0.025 each representing a
capital reduction of RM0.975 for every existing ordinary share
of RM1.00 each. Thereafter, forty (40) ordinary shares of
RM0.025 each will be consolidated into one (1) ordinary share of
RM1.00 each (Consolidated Shares) (Proposed Capital Reduction
and Consolidation);

   b) Proposed acquisition of the entire issued and paid-up
share capital of TAHB (after the Proposed Capital Reduction and
Consolidation) by GEB, to be satisfied by the issuance of
5,189,940 new Shares in Giant Express Berhad (GEB), on the basis
of one (1) new ordinary share of RM1.00 each in GEB (GEB Shares)
for every one (1) Consolidated Share held in TAHB (Proposed
Share Swap with GEB);

   c) Proposed acquisition of the entire issued and paid-up
share capital of Kar Sin Berhad (KSB) and Yu and Sons Sdn Bhd
(YSSB) (collectively known as "Acquiree Companies") by GEB for a
total purchase consideration of RM305,710,000 to be satisfied
with the issuance of 244,568,000 new GEB Shares at an issue
price of RM1.00 per share and the issuance of 61,142,000 nominal
value of 3% 5-year Irredeemable Convertible Unsecured Loan
Stocks (ICULS) by GEB (Proposed Acquisitions). GEB and the
Acquiree Companies shall be known as "GEB Group";

   d) Upon completion of (b) and (c) above, the vendors of the
KSB and YSSB will own 244,568,000 GEB Shares representing 97.92%
of the enlarged issued and paid-up share capital of GEB.
Pursuant to Part II, Section 6 of the Malaysian Code on Take-
Overs and Mergers 1998 (Code), the vendors of KSB and YSSB and
the parties deemed acting in concert will be required to extend
an unconditional mandatory take-over offer for the remaining
shares in GEB not already owned by them. An application by the
vendors of KSB and YSSB and parties deemed acting in concert
will be made to the SC for a waiver from the obligation to
extend mandatory general offer under Practice Note 2.9.3 of the
Code (Proposed Exemption);

   e) Proposed restricted issue of 15,000,000 new GEB Shares at
an issue price of RM1.00 per Share to selected shareholders of
GEB to raise RM15 million cash for GEB to pay the Company as
consideration for the transfer of listing status of TAHB to GEB
(Proposed Restricted Issue);

   f) Proposed disposal by GEB of the entire issued and paid-up
share capital of TAHB (from the Proposed Share Swap with GEB) to
a special purpose vehicle nominated by the SA for a nominal sum
of RM1.00 (Proposed Disposal of TAHB Shares);

   g) Proposed transfer of the listing status of TAHB to GEB in
consideration for RM15 million cash, which will be utilized for
part settlement of TAHB Group's debt. Consequently, TAHB will be
de-listed from the Main Board of the KLSE and GEB will be listed
on the Main Board of the KLSE (Proposed Transfer of Listing
Status);

   h) Proposed Offer For Sale of 61,000,000 GEB Shares by the
vendors of KSB and YSSB, consisting of 59,000,000 Shares via
placement to potential investors and 2,000,000 Shares offer for
sale to the Malaysian Public (Proposed Offer for Sale);

   i) Proposed transfer of RM100,000 nominal value of ICULS for
free by GEB to staff and service providers of KSB Group and YSSB
(Proposed Transfer of RM100,000 nominal value of ICULS);

   j) Proposed listing of the entire issued and paid-up share
capital and ICULS of GEB on the Main Board of the KLSE (Proposed
Listing);

   k) Proposed establishment and implementation of an employee
share option scheme of up to ten percent (10%) of the issued and
paid-up share capital of GEB (Proposed Employee Share Option
Scheme by GEB or Proposed ESOS).

All the abovementioned proposals (collectively known as the
"Proposals") are inter-conditional upon one another.

DETAILS OF THE PROPOSALS

The details of the Proposals, which are conditional upon each
other are set out as below:

The Proposed Capital Reduction and Consolidation

It is proposed that the existing issued and paid-up share
capital of TAHB of RM207,597,589 comprising 207,597,589 Shares
be reduced to RM5,189,940 comprising 207,597,589 ordinary shares
of RM0.025 each representing a capital reduction of RM0.975 for
every existing Share.

Thereafter, forty (40) ordinary shares of RM0.025 each will be
consolidated into one (1) ordinary share of RM1.00 each.

The Proposed Capital Reduction and Consolidation will give rise
to a credit of RM202,407,649, which will be utilized to reduce
the Company's accumulated losses as at 31 December 2000 of
RM502,433,000 to RM300,025,351.

The approval of the shareholders of the Company and the sanction
of High Court are not required for the Proposed Capital
Reduction and Consolidation as it is implemented under the
Danaharta Act.

The effects of the Proposed Capital Reduction and Consolidation
on the share capital of TAHB are as shown in Table 1 at
http://www.bankrupt.com/misc/TCRAP_TechnoAsia0211.html

Proposed Share Swap with GEB

Upon completion of the Proposed Capital Reduction and
Consolidation, it is proposed that the Consolidated Shares be
exchanged with the new GEB Shares, on the basis of one (1) new
GEB Share for every one (1) Consolidated Share held in TAHB.
Upon completion of the Proposed Share Swap with GEB, TAHB shall
become a wholly owned subsidiary of GEB.

The new GEB Shares shall upon allotment and issue, rank pari
passu in all respects with the existing GEB Shares except that
they will not be entitled for any dividends, rights, allotments
and/or other distributions, the entitlement date of which is
prior to the allotment of the new Shares.

The Proposed Acquisitions

Details of the Proposed Acquisition of KSB

On 6 November 2001 and 27 December 2001, GEB entered into a
conditional Sale and Purchase Agreement (KSB SPA) and a
supplementary KSB SPA respectively, with the vendors of KSB
namely Yu Neh Huat, Yu Kuan Seng, Yu Kuan Huat, Yu Kuan Chon,
Teh Nai Sim and Ling Mooi Hung (KSB Vendors) to acquire the
entire issued and paid-up share capital of KSB for a total
consideration of RM275,710,000.

The purchase consideration for the Proposed Acquisition of KSB
was arrived at on a willing buyer and willing seller basis after
taking into consideration the adjusted Net Tangible Asset (NTA)
of KSB and the preliminary open market value (OMV) of the
properties owned by KSB Group, as appraised by Messrs Colliers,
Jordan Lee & Jaafar Sdn Bhd and Messrs Dass Mohamad Chartwell
Brooke Hillier Parker Sdn Bhd (Valuers).

The purchase consideration of RM275,710,000 will be satisfied by
the issuance of 220,568,000 new GEB Shares at an issue price of
RM1.00 per GEB Share and the issuance of 55,142,000 nominal
value of ICULS by GEB (subject to a supplemental agreement to be
executed).

The details on the cost and dates of investments by the KSB
Vendors and the settlement of the Proposed Acquisition of KSB
are as shown in Table 2 below at
http://www.bankrupt.com/misc/TCRAP_TechnoAsia0211.html

Details of the Proposed Acquisition of YSSB

On 6 November 2001, GEB entered into a conditional Sale and
Purchase Agreement (YSSB SPA) with the vendors of YSSB namely Yu
Neh Huat, Yu Kuan Seng, Yu Kuan Huat and Yu Kuan Chon (YSSB
Vendors) to acquire the entire issued and paid-up share capital
of YSSB for a total consideration of RM30,000,000.

The purchase consideration for the Proposed Acquisition of YSSB
was arrived at on a willing buyer and willing seller basis,
taking into consideration the adjusted NTA of YSSB, at a Price
Earnings (PE) multiple of approximately 4.88 times based on the
maintainable earnings of approximately RM6.1 million for YSSB.

The purchase consideration of RM30 million will be satisfied by
the issuance of 24,000,000 new Shares in GEB at an issue price
of RM1.00 per GEB Share and the issuance of 6,000,000 nominal
value of ICULS by GEB (subject to a supplemental agreement to be
executed).

The details on the cost and dates of investments by the YSSB
Vendors and the settlement for the Proposed Acquisition of YSSB
are as shown in Table 3 at
http://www.bankrupt.com/misc/TCRAP_TechnoAsia0211.html

Details on the Acquiree Companies

a) KSB

KSB was incorporated in Malaysia on 24 May 1982 as a private
limited company under the Companies Act, 1965. The authorized
share capital of KSB is RM1,000,000 comprising 1,000,000
ordinary shares of RM1.00 each, of which 800,000 ordinary shares
of RM1.00 each have been issued and fully paid-up. The audited
profit after taxation (PAT) of KSB for the seven (7) month
period ended 31 July 2001 is RM3.9 million and the audited NTA
of KSB as at 31 July 2001 is at RM66.6 million.

The principal activities of KSB are mainly property development,
cultivation and sale of palm and coconut produce. The company
has primarily been active at Sri Manjung, at the southern coast
of Perak Darul Ridzuan, adjacent to the Ipoh-Lumut Development
Corridor. It presently holds 100 % equity interest in Lead View
Sdn Bhd (LVSB), Bay Clubhouse Sdn Bhd (BCSB), Saujana Harian Sdn
Bhd(SHSB), Mesra Unggul Sdn Bhd (MUSB) and Hanidel Sdn Bhd
(HSB).

i) LVSB

LVSB was incorporated in Malaysia on 4 April 1994 as a private
limited company under the Companies Act, 1965. The authorized
share capital of LVSB is RM5,000,000 comprising 5,000,000
ordinary shares of RM1.00 each, of which 3,500,000 ordinary
shares of RM1.00 each have been issued and fully paid-up. The
audited PAT of LVSB for the seven (7) month period ended 31 July
2001 is RM277,280 and the audited NTA of LVSB as at 31 July 2001
is at RM4.3 million.

The principal activities of LVSB are operations and management
of hotel and property investment. LVSB does not have any
subsidiary or associated company.

ii) BCSB

BCSB was incorporated in Malaysia on 19 October 1995 as a
private limited company under the Companies Act, 1965. The
authorized share capital of LVSB is RM100,000 comprising 100,000
ordinary shares of RM1.00 each, of which 2 ordinary shares of
RM1.00 each have been issued and fully paid-up. The audited loss
after taxation of BCSB for the seven (7) month period ended 31
July 2001 is RM1,320 and the audited net tangible loss of BCSB
as at 31 July 2001 is at RM18,574.

BCSB is presently dormant. BCSB does not have any subsidiary or
associated company.

iii) SHSB

SHSB was incorporated in Malaysia on 3 January 1997 as a private
limited company under the Companies Act, 1965. The authorized
share capital of SHSB is RM100,000 comprising 100,000 ordinary
shares of RM1.00 each, of which 2 ordinary shares of RM1.00 each
have been issued and fully paid-up. The audited loss after
taxation of SHSB for the seven (7) month period ended 31 July
2001 is RM1,355 and the audited net tangible loss of SHSB as at
31 July 2001 is at RM9,351.

SHSB is presently dormant. SHSB does not have any subsidiary or
associated company.

iv) MUSB

MUSB was incorporated in Malaysia on 21 November 1996 as a
private limited company under the Companies Act, 1965. The
authorized share capital of MUSB is RM100,000 comprising 100,000
ordinary shares of RM1.00 each, of which 100 ordinary shares of
RM1.00 each have been issued and fully paid-up. The audited loss
after taxation of MUSB for the seven (7) month period ended 31
July 2001 is RM1,695 and the audited NTA of MUSB as at 31 July
2001 is at RM1.7 million.

MUSB is principally a property investment and development
company. MUSB does not have any subsidiary or associated
company.

v) HSB

HSB was incorporated in Malaysia on 3 February 1981 as a private
limited company under the Companies Act, 1965. The authorized
share capital of HSB is RM3,500,000 comprising 3,500,000
ordinary shares of RM1.00 each, of which 3,373,384 ordinary
shares of RM1.00 each have been issued and fully paid-up. The
audited loss after taxation of HSB for the seven (7) month
period ended 31 July 2001 is RM1.5 million and the audited NTA
of HSB as at 31 July 2001 is at RM2.0 million.

The principal activity of HSB consists of property development.

b) YSSB

YSSB was incorporated in Malaysia on 27 August 1988 as a private
limited company under the Companies Act, 1965. The authorized
share capital of YSSB is RM250,000 comprising 250,000 ordinary
shares of RM1.00 each, of which 250,000 ordinary shares of
RM1.00 each have been issued and fully paid-up. The audited PAT
of YSSB for the seven (7) month period ended 31 July 2001 is
RM5.0 million and the audited NTA of YSSB as at 31 July 2001 is
at RM10.0 million.

The principal activities of YSSB are general contracting and oil
palm cultivation. YSSB does not have any subsidiary or
associated company.

Ranking of the New Shares

The new GEB Shares to be issued pursuant to the Proposed
Acquisitions shall upon allotment and issue, rank pari passu in
all respects with the existing GEB Shares except that they shall
not be entitled to any dividends, rights, allotments and/or
other distributions, the entitlement date of which is prior to
the allotment of the new GEB Shares.

Shares To Be Acquired Free From Encumbrances

The entire issued and paid-up share capital of the Acquiree
Companies are to be acquired free from all liens, charges,
equities and encumbrances and together with all rights now or
hereafter attaching thereto including and without limitation all
bonuses, rights, dividends and other distribution declared, paid
or made in respect thereof.

Salient terms of the SPA

Conditions precedents set out in the KSB SPA, supplemental KSB
SPA and YSSB SPA for the Proposed Acquisitions of KSB and YSSB,
respectively, and are as follows:

   (a) the receipt of the approval of the Foreign Investment
Committee (FIC);

   (b) the approval of the shareholders of the Vendor for the
sale of the said shares;

   (c) the approval of all the other relevant and proper
authorities, where required by law;

   (d) the approval of the shareholders of GEB for the issuance
of the consideration shares;

   (e) the receipt of the Workout Approvals; and

The Workout Approvals is as defined below:

   (i) subject to receiving a direction to abandon or
discontinue the workout proposal pursuant to section 49 of the
Act, the approval of Danaharta;

   (ii) the approvals of the TAHB's secured creditors in
accordance with the Act;

   (iii) the approval of any regulatory body (including without
limitation, the KLSE, the Securities Commission ("SC") and/or
the FIC); and

   (iv) such other approval(s) as may be required under any
applicable law, regulations, requirements, rules or guidelines.

   (f) the receipt of the Listing Approval.

The Listing Approval is as defined below:

   (i) the transfer of the TAHB's listing status to GEB;

   (ii) the listing of GEB on the KLSE;

   (iii) TAHB Shares to cease to be listed and quoted on the
KLSE;

   (iv) the acquisition of KSB Group and YSSB; and

   (v) the disposal of TAHB's shares.

Proposed Exemption For The Vendors Of KSB and YSSB And Parties
Acting In Concert To Undertake A Mandatory Take-Over Offer To
Acquire The Remaining Shares In GEB Not Owned By Them

Upon completion of the Proposed Acquisitions, the vendors of the
KSB and YSSB will own 244,568,000 new GEB Shares representing
97.92% of the enlarged issued and paid-up share capital of GEB.

Pursuant to Part II, Section 6 of the Malaysian Code on Take-
Overs and Mergers 1998 (Code), upon completion of the Proposed
Acquisitions, the vendors of KSB and YSSB and the parties deemed
acting in concert will be required to extend an unconditional
mandatory take-over offer for the remaining shares in GEB not
already owned by them.

An application by the vendors of KSB and YSSB and parties deemed
acting in concert will be made to the SC for a waiver from the
obligation to extend mandatory general offer under Practice Note
2.9.3 of the Code.

Proposed Restricted Issue

Upon completion of the Proposed Share Swap with GESB and the
Proposed Acquisitions, a proposed restricted issue of 15,000,000
new GEB Shares at an issue price of RM1.00 per GEB Share will be
made to the Yu's family.

The purpose of the Proposed Restricted Issue is to raise RM15
million in cash for GEB to pay the Company as consideration for
transfer of the listing status of TAHB to GEB under the
Principal Agreement. The SA will utilise the RM15 million as
part settlement of the debts owing by TAHB and its SA appointed
subsidiary companies (TAHB Group).

The new GEB Shares to be issued pursuant to the Proposed
Restricted Issue shall upon allotment and issue, rank pari passu
in all respects with the existing ordinary shares of GEB except
that they shall not be entitled to any dividends, rights,
allotments and/or other distributions, the entitlement date of
which is prior to the allotment of the new GEB Shares.

Proposed Disposal of TAHB Shares

Upon completion of the Proposed Share Swap with GEB and the
Proposed Acquisitions, it is proposed that GEB disposes the
entire issued and paid-up share capital of TAHB to a special
purpose vehicle nominated by the SA for a nominal sum of RM1.00
(Proposed Disposal of TAHB Shares). TAHB will not be a
subsidiary of GEB upon completion of the Proposals.

Proposed Transfer Of Listing Status

Upon completion of the aforementioned proposals, it is proposed
that TAHB transfers its listing status to GEB. Consequently,
TAHB will be de-listed from the Main Board of the KLSE and GEB
will assume the listing status.

Proposed Offer For Sale

The vendors of KSB and YSSB will participate in a Proposed Offer
For Sale of 59,000,000 GEB Shares to potential investors and
2,000,0000 GEB Shares to the Malaysian Public at an offer price
of RM1.00 per GEB Share. All proceeds from the Proposed Offer
for Sale of RM61,000,000 will accrue directly to the offerors.

The GEB Shares to be offered pursuant to the Proposed Offer for
Sale shall upon allotment, rank pari passu in all respects with
the existing GEB Shares except that they shall not be entitled
to any dividends, rights, allotments and/or other distributions,
the entitlement date of which is prior to the allotment of the
shares.

Proposed Transfer of RM100,000 Nominal Value of ICULS

The Proposed Transfer of RM100,000 nominal value of ICULS will
entail the transfer of RM100,000 nominal value of ICULS by the
holder of the ICULS, namely Yu Kuan Chon, being the vendor of
KSB and YSSB, to the service providers and staff of KSB and YSSB
for free on the basis of one (1) lot of ICULS to each service
providers and staff to be identified at a later stage. The
purpose of the Proposed Transfer of RM100,000 nominal value of
ICULS is to meet with the spread requirements for the listing of
the ICULS on the Main Board of the KLSE.
The GEB Shares to be issued and allotted pursuant to the
conversion of the ICULS shall upon allotment, rank pari passu in
all respects with the existing GEB Shares except that they shall
not be entitled to any dividends, rights, allotments and/or
other distributions, the entitlement date of which is prior to
the date of conversion of the ICULS.

3.10 Proposed Listing

On completion of the abovementioned proposals, GEB is proposing
to list its entire issued and paid-up capital and ICULS on the
Main Board of KLSE to provide liquidity to the existing
shareholders of TAHB and the new investors of GEB.

Proposed ESOS

GEB is proposing to establish and implement an employees' share
option scheme of up to ten percent (10%) of the issued and paid-
up share capital of GEB at any one time for the benefit of
eligible directors and employees the GEB Group.

Principal features of the Proposed ESOS

The principal features of the Proposed ESOS are as follow:

   (i) the total number of options to be offered under the
Proposed ESOS shall be subject to a maximum of 10% of the issued
and paid-up share capital of GESB at any point in time;

   (ii) any natural person who is employed full-time by and on
the payroll of any company in the GEB Group (including their
respective subsidiaries) and who fulfils the conditions of
eligibility stipulated in Bye-Law shall be eligible to
participate in the Proposed ESOS. Employees include the
Executive Directors of the GEB Group;

   (iii) the subscription price for each new GEB Shares shall be
based on the weighted average of market price of GEB Shares for
five (5) market days preceding the date of offer with a discount
of up to 10% or the par value of GEB Shares, whichever is the
higher; and

   (iv) the Proposed ESOS shall be in force for a period of five
(5) years from its commencement and GEB may, if the Board of
Directors of GEB and Option Committee deem fit, renew the
Proposed ESOS for another five (5) years, subject to appropriate
notices being served on each grantee and announcements being
made to the relevant parties.

Rationale for the Proposed ESOS

GEB proposes to establish the Proposed ESOS with the view to:

   (a) reward the eligible directors and employees of the GEB
Group in recognition of their contributions whose services are
considered to be vital to the operations and continued growth of
the GEB Group;

   (b) give the eligible directors and employees a sense of
ownership and belonging so that they are further motivated
towards better performance through greater productivity and
loyalty;

   (c) provide an opportunity to the eligible directors and
employees to participate directly in the equity of GEB and upon
becoming shareholders, to take part in the GEB Group's prospects
and future growth; and

   (d) provide an incentive for the eligible directors and
employees to participate actively in the operations of the GEB
Group and encourage them to contribute to the well-being of the
GEB Group.

SALIENT FEATURES OF THE ICULS

The salient features of the ICULS are as shown in Table 4 at
http://www.bankrupt.com/misc/TCRAP_TechnoAsia0211.html

BASIS OF DETERMINING THE ISSUE PRICE OF GEB SHARES

The issue price of RM1.00 per new GEB Share in relation to the
Proposed Acquisitions and Proposed Offer For Sale was arrived at
after taking into consideration the following factors:

   a) The NTA of GEB of RM0.88 per share upon completion of the
Proposals; and

   b) The minimum issue price of RM1.00 per share, i.e. the par
value.

PROSPECTS AND RISK FACTORS OF GEB GROUP

PROSPECTS

GEB Group's prospects in the immediate future lies mainly on the
land banks of approximately 1,100 acres located primarily in
Sitiawan, Seri Manjung and Lumut, Perak. GEB Group's land banks
are strategically located, thus enabling GEB Group to tap into
the current existing infrastructure and further develop its land
banks into townships. This was proven when GEB Group developed
Manjung Point.

GEB Group presently enjoys a healthy market share of properties
developed in the district of Manjung in recent years and expects
to see its market share increasing even further due to its
choiced land banks for development. GEB Group has and will
continue to target the middle-income group by developing low-
medium cost houses. This is due to the affordability of the
general population in the District of Manjung. The development
of the district of Manjung is driven mainly by large
infrastructure projects e.g. construction of the Tenaga Nasional
Berhad's coal-fired power plant and the expansion of the Lumut
Industrial Port.

RISK FACTORS

The primary inherent risk of the property development industry
in general is the subjugation of the business to economic
cycles. In order to mitigate such risks, the GEB Group aims to
provide a well balanced and varied product composition mix in
its development projects with emphasis on medium costs
residential developments. Currently, GEB Group has approximately
1,100 acres of land banks, which are located mainly in Perak.

Basic housing products like low cost, medium low and medium cost
housing have higher take up rates in both the primary and
secondary property market. As demand from this segment of the
market for basic housing is continuous, inelastic and less
susceptible to economic cycle swings, GEB Group is able to
position itself and adapt its business strategies according to
the prevailing economic and market conditions.

Notwithstanding that, there is no assurance that any change in
business and economic cycles will not have an impact on GEB
Group's financial performance.

EFFECTS OF THE PROPOSALS

The effects on the share capital, substantial shareholders and
NTA are as shown in Table 5, 6 and 7 below at
http://www.bankrupt.com/misc/TCRAP_TechnoAsia0211.html

TAHB Group will be de-listed upon completion of the Proposals.
As such, the new GEB Group, who will assume the listing status,
barring any unforeseen circumstances, is expected to contribute
positively on completion of the Proposals.

RATIONALE FOR THE PROPOSALS

TAHB Group is unable to repay its debts due to its poor
financial position and loss-making businesses. As a result,
Danaharta, being a creditor of the TAHB Group, has appointed the
SA to administer the assets of the TAHB Group and to formulate
the workout proposals pursuant to the Danaharta Act.

In this respect, the SA have formulated the workout proposals,
which have been approved by Danaharta and the secured creditors.
Amongst others, the workout proposals included debt settlement
proposals, which provided a better alternative to the creditors
of TAHB Group for recovery as compared to a liquidation
scenario.

Meanwhile a white knight, namely the GEB Group, with a proven
track record and profitable business has been identified to
provide new business to TAHB Group. In order to isolate the new
business from any unknown threats and/or liabilities of the
existing TAHB Group, a new company, i.e. GEB has been identified
to be the new holding company and assume the listing status of
TAHB. TAHB will subsequently be sold to a special purpose
vehicle to enable GEB Group to focus on its new business,
without the burden of the problems of the existing TAHB Group.

The existing shareholders of TAHB are given the opportunity to
participate in the future growth of GEB Group via the Proposed
Share Swap with GEB. Should the existing shareholders of TAHB
choose to dispose their initial investments in TAHB, they will
be allowed the opportunity to sell the GEB shares upon the
listing of GEB on KLSE. TAHB's counter has been suspended from
trading by the KLSE since 2 February 2001.

The Proposed Offer for Sale is undertaken to ensure that GEB
meets with the public spread requirements in accordance with the
SC Guidelines and KLSE Listing Requirements for its listing on
the Main Board of the KLSE.

The Proposed Transfer of RM100,000 nominal value of ICULS is
undertaken to ensure that GEB meets with the spread requirements
for the listing of the ICULS on the Main Board of the KLSE.

The Proposed ESOS is to reward the eligible directors and
employees of the GEB Group in recognition of their contributions
whose services are considered to be vital to the operations and
continued future growth of the GEB Group.

DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS

Save for their entitlements under the Proposed Share Swap with
GEB which all existing shareholders of TAHB are to entitled to,
the substantial shareholders of TAHB do not have any other
interests in the Proposals.

Other than disclosed above, none of the other directors and/or
substantial shareholders of TAHB have any interest, direct or
indirect in the Proposals.

10. CONDITIONS TO THE PROPOSALS

The Proposals are subject to the approvals being obtained from:

   a) the approvals from Danaharta and secured creditors of TAHB
Group in the manner specified in the Danaharta Act for the
Proposals (obtained as mentioned in Section 1 above );

   b) the approval of Securities Commission (SC) for the
Proposals;

   c) the approval of FIC for the Proposals;

   d) the approval of KLSE for the transfer of listing status
from TAHB to GEB, the listing of and quotation for the entire
issued and paid-up share capital of GEB on the Main Board of the
KLSE and the new GEB Shares to be issued pursuant to the
Proposed ESOS and the conversion of the ICULS;

   e) the SC in respect of the application by the vendors of KSB
and YSSB and the parties acting in concert for a waiver from the
requirement to undertake a Mandatory Take-Over Offer to acquire
the remaining shares in GEB not owned by them; and
f) any other relevant authorities for the Proposals.
The Proposals are inter-conditional upon one another.

THE PROPOSED SETTLEMENT FOR THE CREDITORS OF TAHB AND THE
WORKOUT PROPOSALS OF THE ABOVEMENTIONED SA APPOINTED SUBSIDIARY
COMPANIES OF TAHB GROUP

TAHB

a) On 16 October 2001, the SA, on behalf of TAHB and Westmont
Offshore Sdn Bhd (WOSB) entered into a conditional sale and
purchase agreement (WPKL SPA) with Cergas Senja Sdn Bhd (CSSB)
to dispose their entire equity interests in Westmont Power
(Kenya) Limited (WPKL) for a total cash consideration of USD15
million (or equivalent of RM57 million based on the exchange
rate of USD$1 = RM3.80) or USD$0.27 (or RM1.02) per share to
CSSB (Proposed Disposal of WPKL) as part of the workout
proposals of TAHB. Please kindly refer to the announcement dated
23 October 2001 for further details.

The Proposed Disposal of WPKL and the Proposals are not inter-
conditional. The Proposed Disposal of WPKL is also not subject
to the approval of the SC.

b) The debts of the secured creditors of TAHB will be settled
via the proposed set-off and transfer of the charged assets to
them.

c) For the debenture holders, hire purchase and preferential and
essential creditors, all interest and penalty charges arising
after the Cut-Off Date i.e. 30 June 2001, shall be completely
waived and the amount outstanding as at Cut-Off Date shall be
fully settled in cash. The cash proceeds to be raised will be
from the Proposed Disposal of WPKL of RM57 million by TAHB and
WOSB and the Proposed Restricted Issue of RM15 million by GEB.
d) For the unsecured creditors including corporate guarantee
creditors, all interest and penalty charges arising after the
Cut-Off Date shall be completely waived and the liabilities
shall be settled from any surplus recoveries after settlement of
(b) and (c) above and any recovery from the liquidation of TAHB.

CSSB, GPPSB, LPSB, MAPSB, TAVCSB AND WDSB

The different classes of creditors will generally be settled in
the following manner:

a) The secured creditors will be settled via the proposed set-
off and transfer of the charged assets to them. CSSB, GPPSB and
LPSB will set-off its plantation assets to its secured creditors
for RM65.6 million and MAPSB will set-off its property
development land to its secured creditors for RM240.9 million.

b) For the hire purchase creditors, if any, all interest and
penalty charges arising after the Cut-Off Date shall be
completely waived and all subsisting securities granted under
the existing facilities shall be retained by the hire purchase
creditors at their net book values as at the Cut-Off Date and
any balance debt remaining thereafter shall be included under
settlement to unsecured creditors.

c) For the preferential and essential creditors, if any, all
interest and penalty charges, arising after the Cut-off Date
shall be completely waived and the liabilities shall be from the
recovery of the remaining unencumbered assets in the company
including any amounts receivable from related companies, if any.

d) For the unsecured creditors, all interest and penalty charges
arising after the Cut-off Date shall be completely waived and
the liabilities shall be settled from any surplus recoveries
after settlement to preferential and essential creditors.

PMMSB

a) There are no secured creditors for PMMSB.

b) The hire purchase creditors of the company be settled as
follows:

   (i) all interest and penalty charges, if any, arising after
the Cut-off Date shall be completely waived;

   (ii) the disposal proceeds from the sale of assets to Multi
Moulds Industries Sdn Bhd pursuant to the tender exercise shall
be used to settle the hire purchase liabilities as at the Cut-
off Date;

   (iii) in the event the disposal proceeds are insufficient to
fully settle the respective hire purchase liability, the
shortfall arising after item (ii) above shall be an unsecured
claim against the PMMSB and TAHB, the corporate guarantor. The
unsecured claim against PMMSB shall form part of the settlement
to unsecured creditors of PMMSB; and

   (iv) the balance disposal proceeds remaining, if any, shall
be retained by PMMSB to be distributed to its other creditors,
accordingly.

c) As at Cut-off Date, there are no preferential and essential
creditors, however, should there be any amount arising after the
Cut-off Date, the claims then shall be settled via advances by
related companies to PMMSB, if required, and any balance debt
shall remain as part of the preferential claims.

d) All interest and penalty charges, if any for the unsecured
creditors, arising after the Cut-off Date shall be completely
waived and the unsecured claims shall be settled from any
surplus recoveries, including the surplus after settlement to
the hire purchase and lease creditors and preferential and
essential creditors, if any.

GEOSB

a) There are no secured creditors for GEOSB.

b) For the hire purchase creditors, all interest and penalty
charges, if any, arising after the Cut-off Date shall be
completely waived and all subsisting securities granted under
the existing facilities shall be retained by the hire purchase
creditor at their net book values at the Cut-off Date and any
balance debt remaining thereafter shall be included under
settlement to unsecured creditors.

c) For the preferential and essential creditors, all interest
and penalty charges, if any, arising after the Cut-off Date
shall be completely waived and the liabilities shall be settled
from the recovery of the remaining unencumbered assets in the
Company including all amounts receivable from related companies,
if any.

d) For the unsecured creditors, all interest and penalty
charges, if any, arising after the Cut-off Date shall be
completely waived and the liabilities shall be settled from any
surplus recoveries after settlement to preferential and
essential creditors.

STATEMENT BY THE SA

The SA, having considered all aspects of the Proposals, is of
the opinion that the Proposals are in the best interests of the
Company.

GENERAL INFORMATION

Copies of the workout proposals, WPKL SPA, MOU, Principal
Agreement, Novation Agreement, KSB SPA, supplemental KSB SPA and
YSSB SPA will be made available for inspection at the office of
the Special Administrators of TAHB at Level 23A, Menara Milenum,
Jalan Damanlela, Pusat Bandar Damansara, 50490 Kuala Lumpur,
during normal hours from Mondays to Fridays (except public
holidays), for a period of three months from the date of this
announcement.

The submission for the Proposals and proposed set-off and
transfer of the charged assets for MAPSB, CSSB, GPPSB and LPSB
to the SC is expected to be made within two (2) months from the
date of this Requisite Announcement.


TECHNOLOGY RESOURCES: Recapitalization Plan Completed
-----------------------------------------------------
Following the completion of the restricted issue on Thursday,
Dato' K.Y. Lim Executive Director of Technology Resources
Industries Berhad (TRI), informed that the TRI's
recapitalization plan has been a complete and resounding
success.

At book closure, TRI received offers exceeding RM1 billion in
total value.  The company will issue 473,834,000 new ordinary
shares of RM1.00 each, the majority of which are subscribed at
RM1.93 per share, to raise a total of RM886,836,320.  With this,
the Company has secured more than the amount that was originally
targeted.

In respect of the placement of the restricted shares, 25 per
cent are made to Malaysian funds and a further 25 per cent to
ex-Malaysia Asian funds.  The remaining portions are taken up by
European and American funds, accounting for 35 and 15 per cent
respectively.

The success of the restricted issue reflects not just on the
fundamental strengths of the company but also the renewed
confidence in the economy of Malaysia as it attracted
significant amount of foreign funds inflow.  In a single stroke,
the exercise has revived the financial health of TRI and
facilitated inflow of foreign funds that will further enhance
the already recovering Malaysian economy.

TRI's wholly-owned subsidiary, Celcom (Malaysia) Berhad, has
accepted the commitment from a syndicate of financial
institutions led by Citibank Berhad for RM1.85 billion financing
facilities to retire its existing multi-structured facilities of
RM1.45 billion.

With the proceeds from the now secured rights and restricted
issues coupled with Celcom free cash flow, the company has
raised the RM1.9 billion required to retire the US$375 million
Euro Convertible bonds and RM50 million Danaharta credit
facilities by or before the due date of 22 April 2002.

The completion of the recapitalization will have an immediate
positive impact on the company's financial performance.  As a
comprehensive long-term solution to the company's financial
challenges, the exercise will ultimately unlock the true value
of the Group.  Executive Director Lim is confident that with the
support shown by foreign and local investing community, the
company's valuation will be re-rated soon.

More importantly, with the company soon to be back on strong
financial footing, TRI would be able to employ its entire
resources towards expanding the customer base and delivering
best-in-class products and services for the benefit of our
customers.  This will put TRI back on track to become the
undisputed market leader.


UH Dove: CDRC Supports Debt Workout Exercise
--------------------------------------------
The Corporate Debt Restructuring Committee (CDRC) announced that
it has successfully assisted UH Dove Holdings Berhad (UHD) and
its subsidiary companies to finalize a supplemental settlement
agreement with lenders to restructure their outstanding debt of
RM56 million as at end-December 2000.

The proposed debt-restructuring scheme (Scheme) involves
implementation of:

  * Proposed Rights Issue (Rights Issue) - Rights Issue of new
ordinary shares raising up to RM27 million, to be used for
working capital and repayment of bank borrowings. If
underwriting cannot be procured, UHD proposes to proceed based
on the minimum subscription level of 50% or 13.5 million new
ordinary shares (Minimum Subscription).

  * Proposed Debt Restructuring Scheme - This will involve
settlement of the outstanding debts via cash and shares. In the
event the Rights Issue is not fully subscribed by the
shareholders of UHD, part of the outstanding debts will be
termed out over a 2 year period instead of being settled in
cash.

  * Proposed Acquisitions - Acquisitions of the entire issued
and paid up share capital of a few companies and 8 parcels of
freehold land for a total purchase consideration of RM142.7
million to be fully satisfied through issuance of UDH shares.
The companies to be acquired are principally involved in
property development and general contracting.

Apart from the Minimum Subscription, which is awaiting approval
from the Securities Commission, the relevant authorities have
approved other components of the Scheme. The Scheme is
anticipated to alleviate UHD's financial predicament and restore
the company to its original viability.


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


NATIONAL POWER: US$156M Debt Settlement Scheduled This Year
-----------------------------------------------------------
National Power Corporation (NPC) is scheduling this year its
repayment of the US$156 million loan it had acquired from Morgan
Guaranty Trust, a division of JP Morgan Chase, Manila Bulletin
said on Sunday. Of the programmed debt payments, around
US$521.47 million account for the principal portion and $324.38
million for interest payments.

Officials of the Departments of Finance and Energy aims to raise
the requirements of NPC through issuance of bonds in the coming
weeks. As planned, the issue would rake in proceeds of around
$500 million. It would be noted that JP Morgan is among the lead
arrangers of the bond issue, which the government scheduled two
weeks ago, along with Bear Stearns Co. & Inc.

The other debts of NPC requiring bullet or one-time repayment
include the US$200 million Yankee bond by 2006; 48 billion yen
due to the Miyazawa fund and US$100 million eurobond by 2009;
$500 million guaranteed bond of the national government by 2010;
12.0 billion Japanese yen by 2015; US$160 million Yankee bond by
2016; and another $300 million Yankee bond in 2028.

NPC debt obligations totaled US$6.038 billion and the interest
payments at US$3.204 billion, and the repayment has been
stretched from September 2001 to the year 2036.

DebtTraders reports that National Power Corporation's 9.750%
bond due in 2009 (NATPW6) trades between 97.567 and 98.929. For
real-time bond pricing, go to
http://www.debttraders.com/price.cfm?dt_sec_ticker=NATPW6


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


CAM INTERNATIONAL: Incurs FY2001 S$3M Loss
------------------------------------------
CAM International Holdings Ltd announced on February 11 that the
material variation in loss after tax of the Group and Company in
the FY2001 Annual Report from the full year preliminary results
announced on 21st December 2001.

The Group's and Company's loss after tax attributable to
shareholders of the Company were S$3.013 million and S$4.632
million respectively in the Full Year Results announced on 21st
December 2001. Subsequent to the announcement, on 23rd January
2002, the Company entered into an agreement with a third party
whereby the Company will recover approximately S$0.3 million in
respect of costs incurred by the Company in FY2001 pursuant to
an earlier rescue and restructuring exercise which was aborted
in June 2001. As a result, the Group's and Company's loss after
tax attributable to shareholders of the Company were reduced to
S$2.731 million and S$4.332 million respectively in the Annual
Report FY2001.


CAPITALAND LIMITED: Issues 2001 Financial Statement Notice
----------------------------------------------------------
CapitaLand Limited issued on February 9, 2002 this additional
information on its 2001 full-year financial statement:

1. As at December 2001, our investment property revaluation
reserve was $340 million.

2. 2001 interest on borrowings for CapitaLand Commercial was
approximately $175 million.

3. 2001 segmental revenue & earnings before interest and tax
(EBIT) for CapitaLand Commercial & CapitaLand Financial by
geography was:

$ million Revenue EBIT
Singapore 338 325
Overseas 151 60
TOTAL 489 385


FHTK HOLDINGS: Posts Notice of Shareholder's Interest
-----------------------------------------------------
FHTK Holdings Ltd posted a notice of substantial shareholder
Oversea- Chinese Banking Corporation Ltd's interest:

Notice Of Changes In Substantial Shareholder's Interests
Name of substantial shareholder: Oversea-Chinese Banking
Corporation Limited

Date of notice to company: 11 Feb 2002
Date of change of interest: 07 Feb 2002
Name of registered holder: Oversea-Chinese Bank Nominees Private
Limited
Circumstance giving rise to the change: Sales in open market at
own discretion

Shares held in the name of registered holder
No. of shares of the change: 120,000
% of issued share capital: 0.01
Amount of consideration per share excluding brokerage ,GST,
stamp duties, clearing fee: S$0.09083
No. of shares held before change: 1,080,488
% of issued share capital: 0.09
No. of shares held after change: 960,488
% of issued share capital: 0.08

Holdings of Substantial Shareholder including direct and deemed
interest
                                       Deemed      Direct
No. of shares held before change:      48,581,292  146,094,667
% of issued share capital:             3.95        11.87
No. of shares held after change:       48,581,292  145,974,667
% of issued share capital:             3.95        11.86
Total shares:                          48,581,292  145,974,667

Oversea-Chinese Banking Corporation Limited direct interest
under registered holder UOB Kay Hian Private Limited is
145,014,179 (11.78%) and registered holder Oversea-Chinese Bank
Nominees Private Limited is 960,488 (0.08%) and deemed interest
under registered holder UOB Kay Hian Private Limited is
46,961,916 (3.82%) and under registered holder Keppel Bank
Nominees Private Limited is 1,619,376 (0.13%). Total interest
after change is 15.81%.


KOH BROTHERS: Posts Director's Shareholding Notice
--------------------------------------------------
Koh Brothers Group Limited posted a notice of changes in
Director Koh Tiak Chye shareholding:

Notice Of Changes In Director's Shareholding
Name of director: Koh Tiak Chye

Date of notice to company: 08 Feb 2002
Date of change of shareholding: 30 Nov 2000
Name of registered holder: Ong & Company Pte Ltd
Circumstance giving rise to the change: Open market purchase

Shares held in the name of registered holder
No. of shares of the change: 30,000
% of issued share capital: 0
Amount of consideration per share excluding brokerage ,GST,
stamp duties, clearing fee: $0.15
No. of shares held before change: 191,000
% of issued share capital: 0.04
No. of shares held after change: 221,000
% of issued share capital: 0.04

Holdings of Director including direct and deemed interest
                                  Deemed      Direct
No. of shares held before change: 3,180,000   58,198,088
% of issued share capital:        0.66        12.14
No. of shares held after change:  3,180,000   58,228,088
% of issued share capital:        0.66        12.14
Total shares:                     3,180,000   58,228,088

Please be informed that the above Director has acquired 30,000
shares on November 30, 2000. No announcement was made
previously.

Adjustment has been made and reflected in this Notice of Changes
to include the shortfall of 30,000 shares acquired on November
30, 2000. The total number of shares held under Ong & Company
Pte Ltd's name was 221,000 shares as of February 8, 2002.


WEE POH: Gets Creditors' Nod on Scheme Of Arrangement
-----------------------------------------------------
The creditors' meeting of W&P Piling Pte Ltd (WPP)

The Board of Directors of Wee Poh Holdings Limited (WPP or the
Company) announced on Sunday that at the WPP Creditors' Meeting,
held on February 8, 2002 in relation to a Proposed Scheme of
Arrangement (the WPP Scheme) under Section 210 of the Companies
Act, announced that the WPP Scheme to be entered into between
WPP and WPP's Creditors was approved by the requisite majority
of the Creditors.

The WPP Scheme is conditional, inter alia, upon:

1. the confirmation by the High Court of the Republic of
Singapore pursuant to Section 210 of the Companies Act;

2. the approval of the Board of Directors of the Company and (if
applicable) the approval of the shareholders of the Company for
the proposed injection of funds; and

3. all other consents or approvals which may be necessary or
desirable for the WPP Scheme (from financial institutions,
regulatory authorities or otherwise (including but not limited
to the Singapore Exchange Securities Trading Limited)).


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


EMC PUBLIC: Informs Of Ordinary Shares Issuance to Creditors
------------------------------------------------------------
EMC Power Co., Ltd, the plan administrator of EMC Public Co.,
Ltd. (EMC or the Company), announced that increased its
registered capital to Bt677,954,310 divided into 67,795,431
ordinary shares which has the par value of Bt10 per share as
mentioned in the rehabilitation plan.  At present, the paid-up
capital is Bt441,806,540.

Due to EMC received the additional orders from the official
receiver and as provided in the rehabilitation plan that
EMC has to convert the debt to equity by issuing the ordinary
shares, so EMC would like to inform that EMC will
convert the debt to equity by issuing the ordinary shares to the
creditors in the amount of Bt95,706,070 as follows:

1.Bank Thai Public Co., Ltd.    5,583,279shares

2.Chatuchak Assets Management Co., Ltd. 3,987,358shares

The totally additional ordinary shares will be 9,570,607 shares.
After issuing of the ordinary shares, the paid-up capital will
be Bt537,512,610.

EMC will convert the debt to equity and issue the ordinary
shares to the creditors of February 18, 2002.


OLYMPIA THAI: Files Business Reorganization Petition
----------------------------------------------------
Olympia Thai Company Limited (DEBTOR), engaged in selling of
office facilities, computer and component, household
electricity's, internal automatic packages delivery system, and
office rental, filed its Petition for Business Reorganization in
the Central Bankruptcy Court:

   Black Case Number 314/2544

   Red Case Number 389/2544

Petitioner: OLYMPIA THAI COMPANY LIMITED

Planner: OLYMPIA THAI PLANNER COMPANY LIMITED

Debts Owed to the Petitioning Creditor: Bt1,690,109,944.92

Date of Court Acceptance of the Petition: April 27, 2001

Date of Examining the Petition: May 28, 2001 at 9.00 AM; the
objection may be filed with the Central Bankruptcy Court not
less than three days prior to the trial date

Court Order for Business Reorganization and Appointment of
Planner: May 28, 2001

Announcement of Court Order for Business Reorganization and
Appointment of the Planner in Matichon Public Company Limited
and Siam Rath Company Limited: June 5, 2001

Announcement of Court Order for Business Reorganization and
Appointment of the Planner in Government Gazette: July 12, 2001

Deadline for the Planner to submit the Reorganization Plan to
the Official Receiver: October 12, 2001

Planner postponed the date of submitting the reorganization plan
#1st to November 12, 2001

Planner postponed the date of submitting the reorganization plan
#2nd to December 12, 2001

Appointment date for the Meeting of Creditors to consider the
Reorganization Plan: January 17, 2002 at 9.30 am. Convention
Room 1104, 11th Floor, Bangkok Insurance Building, South Sathorn
Road

Contact: Miss Bang-Orn Tel : 6792525 ext. 113


PROPERTY PERFECT: Posts Capital Increase Form
---------------------------------------------
Asian International Planners Limited, Plan Administrator of
Property Perfect Public Company Limited (the Company), in
reference to the Company's Rehabilitation Plan according
to The Central Bankruptcy Court' s order as of October 2, 2001,
informed procedure of Capital Increasing as:

1. Capital increasing

According to rehabilitation item 8.3(c), the Company increase
its capital from Bt778,256,470 to Bt12,000,000,000 by issuing
1,122,174,353 ordinary shares at par value of Bt10 each for the
amount of Bt11,221,743,530

2. Newly issued shares allocation

   2.1 Detail of allocation

Purpose   Amount  Ratio   Selling Price   Date, Time of     Note
     (shares) (Old : New) Bt per share    Subscription
and Paid up

To. Reserve for   1,062,041,353  -   -    -   debt to equity
        Conversion

To. Reserve for   60,000,000     -   -    -     According to
exercising of
the plan in
warrants given
item 8.3
to creditors (f)

   2.2  The plan item 8.3 (h) has stated that in case of shares
residue from allocation, the company will reduce its capital as
soon as possible.

   2.3 Shares residue from allocation ___shares.

3. Schedule the shareholders meeting date to approve capital
increasing and newly issued shares allocation.

The Central Bankruptcy Court ordered such capital increasing and
newly issued shares allocation, so that the shareholders meeting
is cancelled.

4. Capital increasing / newly issued shares approved by
government agency and conditions for approval (if any).

- None -

5. Objectives of capital increasing.

To reserve for debt to equity conversion of creditors group 1,
2, 3, 4, 5, 6, 7, 8, 10 and 11 for exercising of warrants given
to creditors group 2, 3, 4, 5, 6, 7, 8, 10 and 11 according to
the plan item 8.3 (b).

6. Benefits that the Company will get from newly issued shares
allocation

   6.1 To restructure the Company's debt and capital according
to the rehabilitation plan that will help the company to
continue its business

7. Benefits that the Shareholders will get from newly issued
shares allocation

   7.1 Dividend policy according to plan item 8.8 stated that
during the rehabilitation plan the dividend will be omitted

   7.2 This newly issued shares holders will have the right to
get dividend after the rehabilitation plan was cancelled

8. Other necessary details for shareholder in order to approve
capital increasing and newly issued shares allocation

9. Time table of the operation

The Company has already register the capital increase plan to
the registrar since February 4, 2002


RATTANA REAL: Releases Meeting No.1/2002 Resolutions
----------------------------------------------------
Rattana Real Estate Public Company Limited revealed the
resolutions approved at the Ordinary General Meeting of
Shareholders No. 1/2002, held on 7 February 2002, as:

1. Adoption of the Minutes of the Ordinary General Meeting of
Shareholders No. 1/2001.

2. Unanimous approval and ratification of the performance
results of the Board of Directors for the fiscal year 2000 and
the Annual Report.

3. Unanimous  approval of the Balance Sheet and  Profit and Loss
Accounts of the Company for the fiscal year ended 31 December
2000.

4. Acknowledgment of  no dividends  payment  to  the
shareholders for the performance results of the fiscal year
2000, due to the operation loss and existence of accumulated
losses.

5. Unanimous  approval  for appointment  of  new directors to
replace the directors who retired from offices by rotation as
follows:

   5.1 Re-election of  Mr. Chainid  Ngow-sirimanee and  Mrs.
Somphorn  Assavasirisuk, who retired by rotation in this
occasion to their offices as Directors for another period.

   5.2 Acknowledgement of non-acceptance of being reappointment
as director of Dr. White Chaipayungpan.

   5.3 Reduction of the number of the Board members from eight
to seven.

6. Unanimous approval for appointment of Mrs. Suvimol
Krittayakiern or Mrs. Vilairat Rojnuckarin, the auditors from
Office of DIA International Auditing, as the auditors of the
Company for the fiscal year 2001,and fixing the remuneration of
the auditors in the amount not exceeding Bt452,000.

7. Unanimous  approval of the number or names of the directors
who could sign to bind the Company be changed  to "Mr.  Chainid
Ngow-sirimanee, Mr. Vitavas Vibhagool, Mrs. Somphorn
Assavasirisuk, Mr. Apimorn  Purimaporn, Mr. Nattachai
Aramratsameevanit and two of these five directors can sign
jointly to bind the Company and affixing of the Company's
seal."

Please be informed accordingly and please disseminate the
information to the Member Companies and interested investors in
support of their decision on any investment in the securities of
the Company.


THAI TELEPHONE: Issues Warrant Exercise Report
----------------------------------------------
Thai Telephone & Telecommunication Public Company Limited (the
Company), pursuant to the Company's Business Reorganization Plan
dated November 29, 2000 (including amendments dated December 6
and 15, 2000), which had been approved by the Central Bankruptcy
Court on December 27, 2000, has allocated, at no cost,
281,155,610 units of warrants, which give each holder the right
to subscribe for ordinary shares, to the entitled creditors and
to the Company's existing shareholders.

The warrants' term is 5 years, and 1 unit of warrants can be
exercised to purchase 1 ordinary share at Bt4.85 each from
October 1, 2001 to 17.00 hrs. of September 29, 2006. The details
of warrants' terms and conditions have been stated in the
Prospectus.

Please be informed that during the exercising period of January
1-31, 2002, 300 units of warrants were exercised by 2 warrant-
holders. Therefore, total amount of the unexercised warrants is
281,151,040 units. The Company shall allocate 300 ordinary
shares for this exercise and subsequently apply to the Stock
Exchange of Thailand for listing these new shares as listed
securities.


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

Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Washington, DC USA. Lyndsey Resnick,
Maria Vyrna Nineza-Merlin, Maria Cristina Pernites-Lao, Editors.

Copyright 2002.  All rights reserved.  ISSN: 1520-9482.

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