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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, July 6, 2004, Vol. 7, No. 132

                            Headlines

A U S T R A L I A

HOMESAFE EQUITIES: Court Appoints Provisional Liquidator
MITSUBISHI AUSTRALIA: Posts Record Sales in June
MITSUBISHI AUSTRALIA: Expands Tonsley Park Vehicle Operations


C H I N A  &  H O N G  K O N G

ACADA DEVELOPMENTS: Enters Winding Up Proceedings
CHINA CITY: Names New Company Secretary
FAR EAST: Rumors Fly Regarding Chairman Cai
FONDA OIL: Winding Up Hearing Set on July 21
HANG LEE: Creditors Must Submit Claims on July 19

SON AI: Creditors Hold First Meeting on July 21
WAH SANG: Announces Delay of Quarterly Financial Report
WAI HUNG: Creditors Must Prove Debts on July 19


I N D O N E S I A

ASIA PULP: To Formally Announce Debt Exchange Offer in U.S. Soon


J A P A N

ALL NIPPON: Mulls Fare Hike as Rising Fuel Cost Eats Margin
MATSUSHITA ELECTRIC: Ordering in Bulk to Save US$4B This Year
MITSUBISHI MOTORS: U.S. Shakes Up Competition With Best Offer
MITSUBISHI MOTORS: U.S. Sales Down 45.7% in June
MITSUBISHI MOTORS: Admits to 18 Libero-Related Injuries

VICTOR CO.: Shuts Down Domestic CRT Parts Plant


K O R E A

HANAROTELECOM: Offers Long Distance International Call Services
HANBO IRON: Sale to Wrap Up Ahead of Schedule
SSANGYONG MOTOR: Creditors Narrow Bidders to SAIC, U.S. Fund


M A L A Y S I A

AKTIF LIFESTYLE: Issues Status On Default In Payment
AOKAM PERDANA: Undergoing Works On Implementation Of Proposals
AOKAM PERDANA: Processes Submission of Requirements Re Schemes
AYER MOLEK: Answers Bursa Malaysia Query
BERJAYA GROUP: Enters Alliance With KUB Malaysia

BESCORP INDUSTRIES: Issues Update On Practice Note
CHG INDUSTRIES: Issues Update On Financial Condition
CONSOLIDATED FARMS: Posts Monthly Practice Note Status
CYGAL BERHAD: No Further Development On Restructuring Plan
DEVELOPMENT SECURITIES: Enters Winding-Up Proceedings

DRB-HICOM BERHAD: Answers BMSB Query
GEAHIN ENGINEERING: No Changes In Status of Financial Condition
GENERAL SOIL: Awaits Approval Of Application For Time Extension
INNOVEST BERHAD: Prepares Written Presentation Re Removal
KRETAM HOLDINGS: Provides Update On Proposed Joint Venture

KUMPULAN GUTHRIE: Executes Stock Purchase Agreement
KUMPULAN GUTHRIE: Updates Disposal Of Unit's Shares
KUMPULAN GUTHRIE: Updates Disposal Of Unit's Shares
MCQUAY BEIRUT: Informs BMSB Of Dissolution
MCSB SYSTEMS: Issues Details of Proposed Restructuring Scheme

MENTIGA CORPORATION: Awaits SC Decision Of Proposals
MYCOM BERHAD: No Changes In Status Of Restructuring Scheme
NAUTICALINK BERHAD: Updates Corporate Restructuring Proposal
OMEGA HOLDINGS: Releases Monthly Status Announcement
PAN MALAYSIA: No Changes In Plan Status

PILECON ENGINEERING: BMSB Suspends Trading Of Securities
REKAPACIFIC BERHAD: Releases Monthly Status Announcement
RNC CORPORATION: Explains Restructuring Status
SATERAS RESOURCES: Details Status Of Practice Note
TANJONG PUBLIC: BMSB Relates Dealings During Open Period

TELEKOM MALAYSIA: Releases New Composition Of Board


P H I L I P P I N E S

EASYCALL COMMUNICATIONS: Gives PSE Copy of Amended SEC Form 17-Q
NATIONAL POWER: To Implement Measures To Compete With IPPs
NATIONAL POWER: Four Power Plants Eyed By Lopez Firm
NATIONAL STEEL: Local Govt Recalls Tax Write-off Pledge
NATIONAL STEEL: Prices of Canned Goods To Rise On Tariff Hike

NEGROS NAVIGATION: Attempting To Stop Ship Sale
PHILIPPINE LONG: To Consolidate Wireless Ops
PHILIPPINE LONG: PSE Approves Additional Listing Of 8,018 Shares
* Soon-To-Be-Merged Cable Firms Restructure PhP2.5B In Debts


S I N G A P O R E

CHARME LUNETTES: Enters Winding Up Proceedings
EVERGREEN INTERNATIONAL: Creditors Must Prove Debts on August 2
INFORMATICS HOLDINGS: Berjaya to Block Share Sale to Oei Hong
INFORMATICS HOLDINGS: Change in Berjaya Group Holdings
INFORMATICS HOLDINGS: Posts Change in Berjaya Land Interest

INFORMATICS HOLDINGS: Berjaya Leisure Holdings Interest Changes
INFORMATICS HOLDINGS: Details Changes In Teras Mewah Interest
INFORMATICS HOLDINGS: Issues Change in Tan Sri Holdings
LEVER BROTHERS: Creditors Must Submit Claims by August 2
MARLEX DISTRIBUTORS: Winding Up Order Filed


T H A I L A N D

THAI PETROCHEMICAL: Minister Wants TPI under MoF, PTT
* BOND PRICING: For the Week 5 July to July 9, 2004

     -  -  -  -  -  -  -  -  -

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


HOMESAFE EQUITIES: Court Appoints Provisional Liquidator
--------------------------------------------------------
The Australian Securities and Investments Commission on Friday
obtained orders in the Supreme Court of Victoria appointing Mr.
Gess Rambaldi as provisional liquidator to Homesafe Equities Pty
Ltd (Homesafe) and Home and Renovators Group Pty Limited, the
ASIC reported on its Web site.

Homesafe consented to the order. Home Renovators Group
unsuccessfully sought to have the hearing adjourned.

Homesafe and Home Renovators Group were providers of Builder's
Warranty and Financial Guarantee Bonds. Between June 2003 and
February 2004, Homesafe issued approximately 790 bonds to
builders in Victoria.

Mr. Rambaldi is required to report back to ASIC and the Supreme
Court of Victoria no later than 2 August 2004, as to the state
of affairs of Homesafe and Home Renovators Group. The proceeding
has been adjourned to 14 August 2004.

Builders in Victoria are required by the State Building Act to
be covered by an insurance policy that complies with that Act
and a related Ministerial Order. For domestic building
contracts, the required insurance covers property owners against
non-completion of work and structural defects for a specified
period, where the builder dies, disappears or becomes insolvent.

If you have concerns regarding your builder's insurance, whether
you are a builder or a homeowner, please contact ASIC through
our Infoline on 1300 300 630.

BACKGROUND

ASIC alleged that:

Home Renovators Group was insolvent;

Homesafe and Home Renovators Group had breached the Corporations
Act 2001 and the Insurance Act 1973 by issuing insurance and
financial products without the necessary authority or licence;

Homesafe continued to issue the bonds after being told by the
Australian Prudential Regulatory Authority to desist from doing
so; and

Homesafe may have insufficient assets available to meet
potential claims under the bonds, should they arise.


MITSUBISHI AUSTRALIA: Posts Record Sales in June
------------------------------------------------
Mitsubishi Motors Australia Limited (MMAL), in a press release,
has posted a number of records with its June sales in what
appears to be a record month for the industry.

When it comes to popular small sedans, Lancer has established
its credentials over many years. June saw Lancer sedan record
its highest ever all time sales, while it was the second best
month ever for total Lancer sales. This great result was driven
by Mitsubishi's $19,990 drive-away offer on the Lancer ES sedan.

However, the company's light commercial vehicles were the real
star performers.

June was the company's best overall Light Commercial sales for
10 years, and the 3rd best performance in the company's history.

Individually, Triton stepped up to record the second best total
sales (combined 2WD and 4WD) in history, while the 2WD Triton
range recorded its best ever-sales result.

The ever-popular SJ Express Van recorded its best sales for five
years, while the acclaimed Pajero - with its five-speed
sequential style automatic transmission, 'Super Select' drive
train, and fully independent suspension - recorded its best
monthly sales for 10 years, and the third highest monthly sales
in history.

Mitsubishi's President and CEO, Tom Phillips, said that the
sales were extremely pleasing, and were a clear signal of
confidence from consumers.

'We have good merchandising, good offers, and sufficient stock
to satisfy consumer's demands, so everything came together well.

'However, the really positive side to the June sales result is
that Australian consumers have supported our products, and that
gives us the perfect platform from which to launch our new
Grandis, Lancer Evolution VIII, Magna VR-X AWD 'QuadTec', Colt
and Lancer wagon this year,' Mr. Phillips said.

For more information please contact: Kevin Taylor Manager,
Product Communications MITSUBISHI MOTORS AUSTRALIA LTD
Telephone: (08) 8275 2348


MITSUBISHI AUSTRALIA: Expands Tonsley Park Vehicle Operations
-------------------------------------------------------------
Mitsubishi Motors Australia Limited (MMAL) on Monday celebrated
another milestone in the development and expansion of its
Tonsley Park vehicle manufacturing operations with the arrival
of the main components for the company's new 'AA' class sheet
metal stamping press line.

President and CEO of Mitsubishi Motors Australia, Tom Phillips,
celebrated the highly anticipated arrival of the precious cargo
along with The Honourable Mike Rann, Premier of South Australia,
Grant Hanan, MMAL Executive Vice President of Manufacturing, and
a number of the company's plant engineering and manufacturing
employees.

'The arrival of this cargo is further visible proof of the
progress of our investment program for the production of our new
model,' said Tom Phillips.

Approximately 1100 tonnes of metal in 26 huge boxes, which set
sail over 8 weeks ago from Spain, began to be discharged from
the vessel Panthera at Port Adelaide on Sunday morning. The $40
million investment, which includes the large press components,
automation robotics and associated facilities, is part of MMAL's
overall $600 million investment program for the production of an
all new model for release in 2005.

'Although Mitsubishi globally has recently experienced its fair
share of challenges, there is a silver lining - and today is a
reflection of this. It demonstrates how we intend to upgrade our
manufacturing operations in Adelaide to bring Mitsubishi's
Australian operations to the forefront of global automobile
manufacturing technology,' said Tom Phillips.

The installation of this equipment is just another example of
the extensive renovations, new equipment, and technology
presently being installed throughout MMAL's Tonsley Park plant
in preparation for the new car.

The new 'AA' class press line will be the largest facility of
this type within the global MMC group and the largest facility
within the Australian automobile industry.

The 2400 tonne 4-stage tandem press was built by FAGOR in Spain.
Two of the presses are at 2400t capacity and two at 800t
capacity and utilize state-of-the-art vision guidance systems.

This new equipment will allow MMAL to produce the entire body
side of a vehicle from just a single panel. This method will
improve both the accuracy of vehicle body construction and
quality of vehicle outer panels, while using a reduced number of
parts.

'Advances in new vehicle manufacturing technology demands
innovative and flexible manufacturing methods,' said Tom
Phillips.

'Our parent company's global direction for quality excellence,
customer driven cost targets, and rapid delivery times have
inspired us to implement new process & facility requirements
which will firmly cement our position within MMC's global
operations as a key strategic entity.'

Due to the equipment's massive size, a new dedicated building
had to be built on the company's Clovelly Park grounds. Launched
with a sod turning celebration in early 2003, Marshall and
Brougham constructed the press hall, which is 158m long, 30m
high, 30m wide and includes a basement & main floor equal in
size to a third of a football oval.

Furthermore, international freight forwarding company Fracht and
Adelaide-based James Contract Supplies have been employed to
oversee the safe transport of the cargo from the wharf to MMAL's
Tonsley Park operations.

Expected to be commissioned in late 2004, the large press line
is a key element in Mitsubishi Motors Australia's investment
program and its ongoing manufacturing development and growth. It
is designed with the capacity to meet the company's future
production requirements.

About Fracht Australia Fracht Australia is an international
freight forwarder that arranges or facilitates the movement of
goods and materials throughout the world. Fracht has a network
of over 40 offices strategically located throughout the world.
Utilizing this network, Fracht offers a comprehensive range of
surface forwarding services incorporating road, rail and ocean
and air shipping arrangements.

About James Contract Supplies James Contract Supplies is a South
Australian owned and operated crane hire and heavy haulage
Transportation Company, which originally began in 1986 to lift
and transport its own fabricated products (stainless steel
tanks). Since its inception, the organization has grown steadily
from one truck and tank float and one 25 tonne mobile crane to
now boast a wide range of heavy-duty prime movers, semi
trailers, low loaders and heavy lifting cranes.

FOR MORE INFORMATION PLEASE CONTACT: JILL THOMAS MMAL Manager
Corporate Communications (08) 8275 6917 or 0439 440 016


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


ACADA DEVELOPMENTS: Enters Winding Up Proceedings
-------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Acada Developments Company Limited by the High Court of Hong
Kong was, on June 1, 2004, presented to the said Court by Bank
of China, Singapore Branch whose address is 4 Battery Road, Bank
of China Building, Singapore 049908.

The Petition is scheduled before the Court at 10:00 am on July
21, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

INCE & CO.
Solicitors for the Petitioner,
Rooms 3801-6, 38th Floor
Asia Pacific Finance Tower,
Citibank Plaza, 3 Garden Road
Hong Kong

Note: Any person who intends to appear on the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of July 20, 2004.


CHINA CITY: Names New Company Secretary
---------------------------------------
The Board of Directors of China City Natural Gas Holdings
Limited announces that Miss Yiu Yuen Wah, Christiana has
resigned as Company Secretary effective July 1, 2004. The Board
wishes to express its appreciation to Miss Yiu for her
dedication and contribution to the Company during her tenure of
office. The Board also announces that Miss Man Tsz Sai, Lavender
has been appointed as the Company Secretary effective July 1,
2004.

As of the date of this announcement, the Board comprises four
Executive Directors, namely Mr. Zhou Weirong, Mr. Wong
King Shiu, Daniel, Mr. Kan Kwok Shu and Mr. Lin Che Chu,
George; two Independent Non-executive Directors, namely Mr.
Cheung Man Yau, Timothy and Mr. Chuk Che Shing; and one
Non-executive Director, Mr. Suzuki Masanori.

By Order of the Board
China City Natural Gas Holdings Limited
Wong King Shiu, Daniel
Director.

This announcement is dated July 2, 2004.


FAR EAST: Rumors Fly Regarding Chairman Cai
-------------------------------------------
The chairman of Far East Pharmaceutical Technology Co. (0399.HK)
has been caught, Dow Jones says citing local daily Ta Kung Pao.

Fujian provincial police arrested Cai Chongzhen, but released
him on June 22 after he posted bail.  He is reportedly awaiting
trial for charges that are still unclear.  The report did not
say if he had been evading arrest since the Hong Kong bourse
suspended trading of Far East Pharmaceutical on June 17.
Regulators have been trying to contact company representatives
to explain the 92.4% drop of its share value on the day of the
suspension.

Far East Pharmaceutical managing director, Tso Ming-sing,
immediately denied the arrest.  "This is all just media reports.
Some media have even said Cai is dead, but we have been meeting
with him every day, and he is free," Dow Jones quoted him
saying.

Prior to the trading suspension, some 617.8 million shares worth
HK$67.12 million changed hands, an astronomical increase from
the previous average daily volume of 220,000 shares.


FONDA OIL: Winding Up Hearing Set on July 21
--------------------------------------------
A Petition for the Winding up of Fonda Oil Company Limited by
the High Court of Hong Kong was, on June 1, 2004, presented to
the said Court by Bank of China, Singapore Branch whose address
is 4 Battery Road, Bank of China Building, Singapore 049908.

The said Petition will be heard before the Court at 10:00 am on
July 21, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

INCE & CO.
Solicitors for the Petitioner,
Rooms 3801-6, 38th Floor
Asia Pacific Finance Tower,
Citibank Plaza, 3 Garden Road
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of July 20, 2004.


HANG LEE: Creditors Must Submit Claims by July 19
-------------------------------------------------
Notice is hereby given that the creditors of Hang Lee Shipping
Limited, which is in Creditors' Voluntary Liquidation, are
required (if they have not already done so), on or before the
close of business on July 19, 2004, to send in their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors, if any, to the undersigned at
Room 1803 Sunbeam Commercial Building, 469-471 Nathan Road,
Kowloon, Hong Kong and, if so required by notice in writing from
the said Liquidators, are personally or by their solicitors to
come in and prove their said debts or claims at such time and
place as shall be specified in such notice, or in default
thereof, they will be deemed to waive all of such debts or
claims and the Liquidators will be entitled, seven days after
the above date, to distribute any and all surplus assets or
funds available or any part thereof to the members.

Ng Hon Wai Derek
Liquidators

This announcement is dated July 19, 2004.


SON AI: Creditors Holds First Meeting on July 21
------------------------------------------------
The First Creditors Meeting of Son Ai Industrial Company Limited
(In Voluntary Liquidation) will be held at 805, Capitol Centre,
5-19 Jardine's Bazaar, Causeway Bay, Hong Kong on July 21, 2004
at 2:30 p.m. for the purposes mentioned in Sections 228A(6)(c),
241, 242, 243, 244 and 255A of the Companies Ordinance.

Creditors may either vote in person or by proxy.  Forms of proxy
to be used at the meeting must be lodged at 805, Capitol Centre,
5-19 Jardine's Bazaar, Causeway Bay, Hong Kong not later than
4:00 p.m. on the day before the meeting.

By Order of the Board
Mr. Chen Hsin Chen
Director.

This announcement is dated July 2, 2004.


WAH SANG: Announces Delay of Quarterly Financial Report
-------------------------------------------------------
The Board of Wah Sang Gas Holdings Limited (incorporated in
Bermuda with limited liability) wishes to inform the
shareholders of the company that the announcement of the 2004 Q3
Results and the 2004 Annual Results and the dispatch of the 2004
Q3 Report and the 2004 Annual Report are delayed until further
notice as the Company is still in the process of compiling the
necessary information required by its auditors for the purposes.
Such delays will constitute breaches of Rules 18.03 and 18.66 of
the GEM Listing Rules.

The Board will inform the shareholders of the Company as soon as
the practicable when the Company is able to announce the 2004 Q3
Results and the 2004 Annual Results and dispatch the 2004 Q3
Report and the 2004 Annual reports.

Trading in the shares in the Company will remain suspended until
further notice.

By Order of the Board
Wah Sang Gas Holdings Limited
Zhang Hongru
Chairman

This announcement is dated June 30, 2004.


WAI HUNG: Creditors Must Prove Debts by July 19
-----------------------------------------------
The creditors of Wai Hung Engineering Transportation Company
Limited, which is in Creditors' Voluntary Liquidation, are
required (if they have not already done so), on or before the
close of business on July 19, 2004, to send in their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors, if any, to the undersigned at
Room 1803 Sunbeam Commercial Building, 469-471 Nathan Road,
Kowloon, Hong Kong, and, if so required by notice in writing
from the said Liquidators, are personally or by their solicitors
to come in and prove their said debts or claims at such time and
place as shall be specified in such notice, or in default
thereof, they will be deemed to waive all of such debts or
claims and the Liquidators will be entitled, seven days after
the above date, to distribute any and all surplus assets or
funds available or any part thereof to the members.

Ng Hon Wai Derek
Liquidators

This announcement is dated July 2, 2004.


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


ASIA PULP: To Formally Announce Debt Exchange Offer in U.S. Soon
----------------------------------------------------------------
Asia Pulp and Paper plans to file a memorandum with the U.S.
Securities and Exchange Commission to notify U.S. bondholders of
the exchange offer in August, Agence France-Presse says.

According to APP executive Yan Partawijaya, the offer is part of
the Master Restructuring Agreement that seeks to restructure
US$6.4 billion of APP's debts.  Adopted by creditors
representing 40% of debt in October, this workout plan requires
the support of at least 90 percent of creditors to take effect.

"We also want to trace our bondholders overseas.  For this
reason, we need help from SEC because we cannot do it
ourselves," AFP quoted Mr. Yan.

Under U.S. market regulations, a memo disclosing the debt-
restructuring plan must be filed before U.S. bondholders can
swap their APP bonds with restructured bonds of four APP
Indonesian units namely PT Indah Kiat Pulp Paper, PT Lontar
Papyrus, PT Pindo Deli and PT Pabrik Kertas Tjiwi Kimia.


=========
J A P A N
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ALL NIPPON: Mulls Fare Hike as Rising Fuel Costs Eat Margin
-----------------------------------------------------------
All Nippon Airways Co. (ANA) and Japan Airlines System
Corporation (JAL) are planning to increase domestic fares due to
skyrocketing prices of crude oil, Yomiuri Shimbun said Monday.

ANA says its annual consolidated profit will decrease nearly
JPY10 billion if crude oil prices rise by $1 a barrel.
JAL's figure is JPY5.5 billion.  The two know that the Fair
Trade Commission will try to stall a hike, but they continue to
consider it an option.

To avoid paying the higher prices, the two carriers have already
purchased about 40-50 percent of the total amount of jet fuel
they expect to use this fiscal year.


MATSUSHITA ELECTRIC: Ordering in Bulk to Save US$4 B This Year
--------------------------------------------------------------
Matsushita Electric Industrial Co. Ltd. plans to cut procurement
cost by JPY430 billion (US$4 billion) in the year to next March
to beat intense global competition.

Citing the Nihon Keizai Shimbun, Reuters said the company's
procurement cost totaled JPY3.4 trillion last year, including
JPY600 billion from Matsushita Electric Works Limited, which
was consolidated into Matsushita Electric Industrial in April.
Matsushita Electric Industrial aims to cut the cost by placing
bulk orders for the company, rather than letting each unit place
orders separately.

Despite returning to profit for the first time in three years,
Matsushita Electric Industrial Co. is planning to cut about
3,000 jobs from its group workforce in Japan along with a plan
to shift production of unprofitable electronics parts and
batteries offshore by the end of next March, TCR-AP reported in
its 122nd edition.  The electronics maker will also introduce an
early retirement scheme this month.


MITSUBISHI MOTORS: U.S. Shakes Up Competition With Best Offer
-------------------------------------------------------------
Mitsubishi Motors North America, in a press release, announced
the addition of a five-year/60,000 mile "bumper-to-bumper" new
vehicle limited warranty that provides the company with an
industry-leading offer for its customers - the "best-backed car"
10-year/100,000 mile limited powertrain warranty, three-
year/45,000 mile free maintenance policy and five-year/60,000
mile "bumper-to-bumper" limited warranty. The new warranty
announcement, made as the company launches its "Best-Backed Cars
in the World" summer sales event, applies to new Mitsubishi
Motors model year 2004 vehicles purchased or leased in the
United States starting July 1, 2004.

"We now have the best-backed products in the industry," said Ian
Beavis, senior vice president, product planning, marketing and
public relations. "You won't find another competitor so
confident in its products and quality that it can offer this
peace-of-mind package to customers."

The newly added five-year/60,000 mile "bumper-to-bumper" new
vehicle limited warranty covers major vehicle systems, which
include defects in materials and workmanship.

This "bumper-to-bumper" limited warranty is in addition to the
10-year/100,000 mile limited powertrain warranty announced in
January 2004 on all new Mitsubishi Motors vehicles. The 10-
year/100,000 mile limited powertrain warranty covers the repair
or replacement of covered powertrain components - from engine to
transfer case. The three-year/45,000 free maintenance policy is
a "no worries" plan that includes recommended maintenance
service, such as oil and filter changes as well as tire
rotation. This free maintenance program previously applied to
only select models, but now has been expanded to include all
models sold in July and August 2004.

"This unprecedented backing of our products speaks to our long-
term commitment to our customers," Beavis said. "It also is
reflective of the tremendous strides Mitsubishi Motors has made
in vehicle quality improvements, including those vehicles
supplied from our U.S. manufacturing facility. This has allowed
us to confidently stand behind the products we sell today, as
well as those we'll be selling well into the future."

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of the Mitsubishi Motors Corporation in
the United States, Canada, Mexico and Puerto Rico. Mitsubishi
Motors sells coupes, convertibles, sedans and sport utility
vehicles through a network of nearly 750 dealers throughout
North America.

For more information, contact the Mitsubishi Motors News Bureau
at (888) 560-6672 or visit media.mitsubishicars.com.


MITSUBISHI MOTORS: U.S. Sales Down 45.7% in June
------------------------------------------------
New vehicle sales in the United States plunged 45.7 percent in
June as consumers turned away from the brand after the company
announced a series of recalls in Japan.

According to Japan Times, the carmaker sold only 12,301 units
last month, marking the biggest decline in its history. The
recall scandal has forced the company to ask lenders for an
additional JPY96 billion (US$890 million) in fresh funds, on top
of the US$4 billion rescue package they had previously promised.

Most of the new money would come from J.P. Morgan Chase & Co.,
which might invest JPY50 billion on top of the JPY100 billion of
preferred shares it has pledged to buy.  Phoenix Capital,
another lender, might also increase its investment, previously
set at JPY70 billion, to JPY100 billion.


MITSUBISHI MOTORS: Admits to 18 Libero-Related Injuries
-------------------------------------------------------
Mitsubishi Motors Corporation admitted Friday that 18 people had
been injured due to a rear-hatchback door defect in the 1992-
1994 Libero station wagons, Dow Jones Newswire reports, citing
the Kyodo News.

In a report submitted to the Ministry of Land, Infrastructure
and Transport, the carmaker said it would recall the 48,718
Liberos made between March 1992 and August 1994 to fix the rear
door.

Mitsubishi said it instructed dealers and garages in January
1994 to repair the Libero's defective parts secretly and
illegally - without itself filing a recall with the ministry.

Until the automaker stopped secretly repairing the defects in
1997, it had completed repairing only 8 percent of all the
Liberos.


VICTOR CO.: Shuts Down Domestic CRT Parts Plant
-----------------------------------------------
Victor Co. of Japan will shut down a cathode-ray tube television
(CRT TV) components plant in Oyama, Tochigi Prefecture at the
end of this month, reports the Kyodo News. The move is in
response to slack domestic demand for CRT TV components amid
growing demand for flat-screen TV.

Meanwhile, the Jiji Press reported that the closure of the Oyama
plant is part of the company's three-year restructuring program
covering fiscal 2004-2006. Under the program, the Company plans
to close four or five of its 28 production facilities in Japan
and abroad, and reduce its payrolls to 7,000 from 7,990.


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K O R E A
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HANAROTELECOM: Offers Long Distance International Call Services
---------------------------------------------------------------
In a disclosure to the U.S. Securities and Exchange Commission,
Hanarotelecom, formerly known as Hanaro Telecom Inc., issued a
fair disclosure relating to the launch of long distance and
international call services, filed with the Korea Securities
Dealers Association Automated Quotation Market (KOSDAQ) on June
23, 2004.

The Company announced that, in line with the launch of 005
international call service from 1 July and the nationwide fixed
number portability (FNP) effective from July/August this year,
it would roll out its marketing plans for its voice business and
actively promote the marketing campaign for these new products
from the second half of this year.

On June 23, Dr. Chang Bun Yoon, CEO of Hanaro, held a press
conference on the Company's voice business at the Seoul Plaza
Hotel. He commented that with the fully integrated
telecommunications services, the Company is expected to achieve
KRW372.5 billion in revenues this year, which is 18% higher
than the lasts year's KRW315.8 billion.

Dr. Yoon added that with the 'one-stop' provision of local /
long-distance (DLD)/ 005 international call services (IDD) and
the nationwide fixed number portability effective from
July/August this year, the Company plans to increase its current
market share in the domestic voice business from
4.8% to 6% by the end of this year, and exceed 20% of the market
share by 2008.

The Company will position its VoIP as a digital local call
service and specifically target residential broadband
subscribers from the second half of this year. Eventually, the
Company aims to provide the 'Triple Play' package that will
provide VoIP services along with broadband and broadcasting
services, according to Dr. Yoon.

Dr. Yoon emphasized that the Company seeks the stable entrance
into the market by focusing its sales efforts on the existing
local call subscribers (1.1 million) and broadband subscribers
(2.8 million) for the new DLD/IDD services commencing in July
this year, not the escalation of pricing pressure with its
competitors.


HANBO IRON: Sale to Wrap Up Ahead of Schedule
---------------------------------------------
The sale of Hanbo Iron & Steel Co. will be finalized earlier
than scheduled, Yonhap News reports, citing a high-ranking
official from the consortium on condition of anonymity.

A consortium of INI Steel Co. and Hyundai Hysco, selected as the
preferred bidder, will move up its schedule to ink a final
contract on the takeover of the troubled steel maker from early
August to the end of this month.

Hanbo, which is controlled by the Korea Asset Management
Corporation and other creditors, has been up for sale since its
bankruptcy in January 1997. The company was partly responsible
for triggering South Korea's currency crisis in 1997.


SSANGYONG MOTOR: Creditors Narrow Bidders to SAIC, U.S. Fund
------------------------------------------------------------
Companies bidding for Ssangyong Motor Co. have been narrowed
down to Shanghai Automotive Industry (Group) Corporation (SAIC)
and a U.S.-based pension fund, Dow Jones reports, citing a main
creditor of the automaker. The report declined to reveal the
identity of the U.S. pension fund.

"We've received proposals from four companies and we narrowed
the candidates to SAIC and a U.S. pension fund," said Chohung
Bank in a statement.

Ssangyong was put up for sale after it separated from the Daewoo
Group, which was dissolved in 1999 after it collapsed under
trillions of won in debt. Creditors then took control of the
carmaker through two debt-for-equity swaps.


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


AKTIF LIFESTYLE: Issues Status On Default In Payment
----------------------------------------------------
Aktif Lifestyle refers to our announcement dated 1 June 2004 on
Practice Note No. 1/2001 (Default in Payment).

Hwang-DBS Securities Berhad, on behalf of Aktif, had on 18 May
2004 announced that the Securities Commission (SC) had, via its
letter dated 17 May 2004 approved the Proposed Disposal of Aktif
Lifestyle Stores Sdn Bhd (Proposed Disposal).

On 18 June 2004, the shareholders of Aktif at its Extraordinary
General Meeting had approved the Proposed Disposal.

Aktif and CP Properties Sdn Bhd (the Purchaser) have agreed that
following the approval of Aktif's shareholders on 18 June 2004
for the Proposed Disposal, the Proposed Disposal became
unconditional on 18 June 2004 and that the parties have thirty-
(30) days from 18 June 2004 to complete the Proposed Disposal.

The Board of Directors of Aktif wishes to announce that there
has been no further development or change in status with respect
to the default in payment.

The Company will keep its shareholders informed of any pertinent
development.

This announcement is dated 1 July 2004.


AOKAM PERDANA: Undergoing Works On Implementation Of Proposals
-------------------------------------------------------------
Aokam Perdana Berhad (Aokam) disclosed an update on Practice
Note 4/2001 (PN4) on criteria and obligations pursuant to
Paragraph 8.14 of the Listing Requirements of the Kuala Lumpur
Stock Exchange.

Further to our announcement dated 1 June 2004 made pursuant to
Paragraph 4.1(b) of PN 4, Aokam Perdana Berhad wishes to
announce that the Company and its advisers, Messrs. Southern
Investment Bank Berhad (SIBB) are working on the implementation
of the corporate proposals to resolve the financial condition of
Aokam Group.


AOKAM PERDANA: Processes Submission of Requirements Re Schemes
--------------------------------------------------------------
Aokam Perdana Berhad refers to its PN1 announcement dated 1 June
2004 and wishes to announce that Aokam, Aokam Industries Sdn Bhd
and Pembangunan Papan Lapis (Sabah) Sdn Bhd are in the process
of submitting its application to the High Court of Malaya on the
Schemes of Arrangement which was approved by the respective
Scheme Companies Creditors at the respective Court Convened
Meetings held on 28 May 2004.

Apart from the above, the issue of continual default remains
unchanged.


AYER MOLEK: Answers Bursa Malaysia Query
----------------------------------------
The Ayer Molek Co. Berhad refers to the facsimile letter on even
date and the article appearing on The Star Biz of page 8 on
Thursday.

The Company wishes to deny making any statements directly or
indirectly in relation to the quantum of bonus issue as detailed
in the article.

The statement appearing in The Star is basically a speculating
report which the Company has no knowledge and control thereof.

The Company has made an announcement on Friday, June 25, 2004 in
relation to the Company's restructuring plan of which details of
the restructuring plan shall be furnished to the relevant
authorities by the Merchant Banker at an appropriate time.

Query Letter content:

Bursa Malaysia Securities Berhad refers to the above article
appearing in Starbiz, page 8, on Thursday, 1 July 2004, a copy
of which is enclosed for your reference.

In particular, the Exchange would like to draw your attention to
the underlined sentence, which is reproduced as:

"The Ayer Molek Rubber Company (M) Bhd could be issuing an 18
for 1 bonus issue before implementing a 1 for 1 rights,..."

In accordance with the Exchange's Corporate Disclosure Policy,
you are requested to furnish the Exchange with an announcement
for public release confirming or denying the above reported
statement after due and diligent enquiry with all the directors,
major shareholders and all such other persons reasonably
familiar with the matters about which the disclosure is to be
made in this respect. In the event you deny the above reported
statement, you are required to set forth facts sufficient to
clarify any misleading aspects of the same.

In the event you confirm the above reported statement, you are
required to set forth facts sufficient to support the same.

Please furnish the Exchange with your reply within one (1)
market day from the date hereof.

Yours faithfully
Inderjit Singh
Sector Head,
Issues & Listing
Group Regulations
THY


BERJAYA GROUP: Enters Alliance With KUB Malaysia
------------------------------------------------
Berjaya Group Berhad, in a disclosure to Bursa Malaysia
Securities Berhad issued and update in relation to the following
proposals:

- PROPOSED SHARE SPLIT;
- PROPOSED SHARE EXCHANGE;
- PROPOSED CASH PAYMENT;
- PROPOSED CAPITALISATION;
- PROPOSED CONVERSION OF ADVANCES;
- PROPOSED OFFER FOR SALE;
- PROPOSED TRANSFER OF LISTING;
- PROPOSED EXEMPTION; AND
- PROPOSED LIQUIDATION

Further to the announcement dated 11 June 2004 in relation to
the above matter, the Board of Directors of Berjaya Group Berhad
(BGroup) is pleased to announce that it has formally entered
into a shareholders' agreement with KUB Malaysia Berhad (KUB) to
undertake a long-term sanitary landfill project at Bukit Tagar,
Selangor on a 60:40 basis.


BESCORP INDUSTRIES: Issues Update On Practice Note
--------------------------------------------------
Reference is made to paragraph 4.1(b) of the Practice Note
4/2001 of the Listing Requirements of Bursa Malaysia Securities
Berhad (Bursa Malaysia) whereby the affected listed issuer is
required to announce the status of its plan to regularize its
financial condition on a monthly basis until further notice from
Bursa Malaysia.

The Special Administrators of Bescorp Industries Berhad wishes
to inform that approvals of all relevant authorities have been
obtained for the implementation of the Company's corporate and
debt restructuring (Proposed Scheme), save for the Initial
Listing Application (ILA) which is currently pending the
approval of Bursa Malaysia.

WCT Engineering Berhad (WCT) announced on 21 June 2004 that the
relevant authorities and parties have given their respective
approvals under the Share Sale Agreement dated 2 July 2003 in
relation to the proposed acquisition by WCTL from MTD Realty
Sdn. Bhd. (MTDR) of 2,500,000 ordinary shares of RM1.00 each in
Labur Bina Sdn. Bhd. (LBSB), representing the balance 50 percent
equity interest in LBSB, not already owned by WCTL, for a total
cash consideration of RM48,900,000 (Proposed Acquisition), which
has been duly completed on 18 June 2004 (Completion Date).

The Securities Commission vide its letter of approval dated 12
March 2004 had imposed a condition to the Proposed Acquisition
that in the event that there is a deferred tax liability
provision on the Completion Date, MTDR shall pay to WCTL the
deferred tax liability arising from the Proposed Acquisition.

Subsequently on 18 June 2004, WCTL and MTDR had mutually agreed
to deduct the deferred tax liability payable by MTDR of
RM2,794,888 against the final balance of the purchase
consideration payable by WCTL of RM12,150,000 and agreed
interest of RM2,000,000 on or before 1 March 2005.

Upon the approval of Bursa Malaysia of the ILA and the Circular
to the Shareholders of BIB, we will dispatch the Circular
together with the Notice of Book Closure to implement the
Proposed Share Exchange under the Proposed Scheme.

Save for the above, there were no further developments since our
previous announcement with regard to this Practice Note.


CHG INDUSTRIES: Issues Update On Financial Condition
----------------------------------------------------
Pursuant to paragraph 8.14 of the Bursa Malaysia Securities
Berhad (Bursa Malaysia) Listing Requirements and paragraph
4.1(b) of Practice Note No. 4/2001 of the Bursa Malaysia Listing
Requirements (PN4), CHG Industries Berhad is required to
announce the status of its plan to regularize its financial
condition on a monthly basis until further notice from the Bursa
Malaysia.

Further to the Company's announcement on 4 June 2004 and 23 June
2004, the Company wishes to update that it is currently
preparing the applications for the Proposed Restructuring Scheme
to the relevant authorities.


CONSOLIDATED FARMS: Posts Monthly Practice Note Status
------------------------------------------------------
The Board of Consolidated Farms Berhad issued to Bursa Malaysia
Securities Berhad its:

(1) Monthly Status Announcement: Practice Note No. 1/2001

The Confarm Group has been unable to pay the amount of principal
and/or interest in respect of its credit facilities as at 30
June 2004 as set out in Table 1.

There has been no material change in Confarm's status since the
last announcement on 2 June 2004.

(2) Monthly Status Announcement: Practice Note No. 4/2001

There has been no material change in the status of the Company's
plan to regularize its financial condition since the last
announcement on 2 June 2004.

This announcement is dated 2 July 2004.

Table 1

Amount of Principal and/or Interest Due as at June 30, 2004

Lender            Borrower      Amount Due  Type of Facilities
                                As at June
                                30, 2004

Bank Pertanian      Confarm   171.9          Term Loan
Malaysia (BPM)

Bumiputra-Commerce  Confarm   4,771.0         Banker's
Acceptance
Bank Berhad(BCBB)                             (BA)

Malayan Banking     Confarm    5,843.5       TL and BA
Berhad

BCBB            Consolidated   1,657.5        TL and BA
                Breeder Farms
                Sdn Berhad

BCBB            Consolidated    5,963.0        TL and BA
                Feedmill Sdn
                Berhad (CFM)

BPM             Consolidated    0.6             TL
                Organic
                Fertilizer
                Sdn Berhad

BCBB            Consolidated    753.2            TL and BA
                Liquid Eggs
                Sdn Berhad
                (CLESB)

BPM              CLESB           70.5             TL

AmMerchant       Confarm         91.0          Revolving Credit
Bank Berhad                                       (RC)
(AMBB)

AMBB             CFM             34.1              RC

Total                            19,356.3


CYGAL BERHAD: No Further Development In Restructuring Plan
----------------------------------------------------------
Cygal Berhad refers to its announcement made to Bursa Malaysia
Securities Berhad dated 1 June 2004 and the announcement made by
Commerce International Merchant Bankers Berhad on the Company's
behalf dated 21 June 2004. The Company hereby announced that,
other than as previously announced, there has been no further
development on the status of its restructuring plan.


DEVELOPMENT SECURITIES: Enters Winding-Up Proceedings
-----------------------------------------------------
Sateras Resources Berhad disclosed to Bursa Malaysia Securities
Berhad the details of the Winding Up Order served against
Development Securities Sdn. Bhd. (DSSB) a subsidiary of Sateras
Resources, pursuant to section 218 of the Companies Act, 1965.

Sateras wishes to announce that Development Securities Sdn.
Berhad has been wound up pursuant to Section 218 of the
Companies Act, 1965 on 30th June 2004.

Details of default or circumstances leading to the filing of the
winding up petition against DSSB.

The petition was filed by Kerajaan Malaysia due to default in
payment of RM1,897,7890.51 owed by DSSB to Kerajaan Malaysia

Date of Petition:

The petition was presented to the Court on 26th December 2003

High Court Petition Number: D1-21-97-2003

Date of Hearing: 30th June 2004

Total Cost of Investment in DSSB: RM28,514,095.81

The financial and operational impact arising from the winding up
petition:

There is no financial and operational impact as full provision
has been made.

The expected losses, if any arising from the winding up
petition:

DSSB is expected to incur legal fees which is yet to be
ascertained

The steps that Sateras has taken and will take with regards to
the winding up petition:

DSSB will pursue to apply for a stay.


DRB-HICOM BERHAD: Answers BMSB Query
------------------------------------
DRB-HICOM Berhad replies to Query Letter of Kuala Lumpur Stock
Exchange reference ID: ZO-040701-41316.

The company refers to the letter dated 1 July 2004 from Bursa
Malaysia to DRB-HICOM Berhad (DRB-HICOM) with regard to the
above article appearing in The Malay Mail, MailMoney section,
page 21 on Wednesday, 30 June 2004, in particular the following
sentence:

".......... DRB-HICOM's 30 per cent unit, Edaran Otomobil
Nasional Bhd (EON), may acquire the automobile assets from the
former, starting with the Mitsubishi franchise."

In this regard, the company wishes to state that DRB-HICOM has
no plan to undertake any large-scale internal restructuring
exercise which may see DRB-HICOM divesting some of its
automobile assets. Therefore, the above statement is incorrect.
However, with regard to the Mitsubishi franchise, DRB-HICOM is
in the midst of some negotiations with relevant parties and will
make appropriate announcement in due course.

c.c. Issues and Investment Division
Securities Commission
(Fax No. 62015213)

Query Letter content:

The Exchange refers to the above article appearing in The Malay
Mail, MailMoney section, page 21 on Wednesday, 30 June 2004, a
copy of which is enclosed for your reference.

In particular, the bourse would like to draw your attention to
the underlined sentence, which is reproduced as follows:

"... DRB-HICOM's 30 per cent unit, Edaran Otomobil Nasional Bhd
(EON), may acquire the automobile assets from the former,
starting with the Mitsubishi franchise."

In accordance with the Exchange's Corporate Disclosure Policy,
you are requested to furnish the Exchange with an announcement
for public release confirming or denying the above reported
article and in particular the underlined sentence after due and
diligent enquiry with all the directors, major shareholders and
all such other persons reasonably familiar with the matters
about which the disclosure is to be made in this respect.

In the event you deny the above sentence or any other part of
the above reported article, you are required to set forth facts
sufficient to clarify any misleading aspects of the same. In the
event you confirm the above sentence or any other part of the
above reported article, you are required to set forth facts
sufficient to support the same.

Please furnish the Exchange with your reply within one (1)
market day from the date hereof.

Yours faithfully
KOAY LEAN LEE
Senior Manager
Issues & Listing
Group Regulations


GEAHIN ENGINEERING: No Changes In Status of Financial Condition
---------------------------------------------------------------
Geahin Engineering Berhad disclosed that further to the
announcement made on 22 June 2004 to Bursa Malaysia the Company
is in the process of implementing the respective proposals under
the Proposed Restructuring Scheme.

In view of this there is still no change in the status of the
Company's financial condition.


GENERAL SOIL: Awaits Approval Of Application For Time Extension
---------------------------------------------------------------
General Soil Engineering Holdings Berhad, in a disclosure to
Bursa Malayasia Securities Berhad announced that the company for
approval from the relevant authorities sought an extension of
time for the Proposed Restructuring Scheme pursuant to Practice
Note 4/2001 of the Listing Requirements of Bursa Malaysia
Securities Berhad.

Further to the announcement dated 29 June 2004, Avenue
Securities Sdn Bhd, on behalf of the Company, wishes to announce
that Bursa Securities, had via its letter dated 1 July 2004,
will await the outcome of the Company's application to the
relevant authorities.

This announcement is dated 2 July 2004.


INNOVEST BERHAD: Prepares Written Presentation Re Removal
---------------------------------------------------------
Innovest Berhad refers to the announcement made on 23 June 2004.

The Board of Directors of Innovest Berhad (Company) wishes to
announce that the Company is in the midst of preparing written
representations to Bursa Malaysia Securities Berhad (Bursa
Malaysia) on why its securities should not be removed from the
Official List of Bursa Malaysia.


KRETAM HOLDINGS: Provides Update On Proposed Joint Venture
----------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Kretam
Holdings Berhad issued an update in relation to the Proposed
Joint Venture between Jeffa Construction Sdn. Bhd. (JCSB) and
Southcon Corporation (Malaysia) Sdn. Bhd. (scm) Transfer Of
Shares in Pandan Place Development Sdn. Bhd. (PPD)

Further to the termination of the Proposed Joint Venture between
JCSB and SCM which was announced on 5 December 2003, the Board
of Directors of Kretam Holdings Berhad (KHB) wishes to announce
that SCM has transferred 70 percent of its equity interest in
PPD, comprising 7 ordinary shares of RM1.00 each, to JCSB on 1
July 2004.

JCSB is a 51 percent owned subsidiary of KHB Development Sdn.
Bhd, which is in turn a wholly owned subsidiary of KHB. Pursuant
to the Proposed Joint Venture, PPD was formed as the joint
venture company with the intention to complete the development
of 8 pieces of land located at Mukim Tebrau, Johor Baharu.

With the termination of the Proposed Joint Venture and the said
transfer, JCSB now holds 100% equity interest in PPD, which
manages a retail market known as Pandan Retail Market
constructed on the development land in Johor Bahru.

Jeffa Market Techonology (JMT) is a wholly owned subsidiary of
PPD and JMT operates and manages the wholesale market
constructed on the land in Johor Bahru.

PPD had entered into a tenancy agreement with Pedu Setia Sdn.
Berhad (Pedu Setia) on 8 May 2003 to let the Pandan Retail
Market for a monthly rental of RM311,000 for a period of three
years from 1 February 2004 and renewable for another three
further terms of three years each. Pedu Setia had breached the
Tenancy Agreement due to non-payment of rental.

Pedu Setia had filed a Writ of Summons against PPD under Civil
Suit No. 22-335-2004 in the High Court of Malaya at Johor Bahru
to claim for amongst others, specific performance of the Tenancy
Agreement dated 8 May 2003, injunction restraining PPD from
entering the Pandan Retail Market during the tenure of tenancy
without their approval, damages for breach of contract,
interests and costs.

PPD had filed a Defense and Counterclaim for the recovery of
rental in arrears and loss of profits.

The hearing for a permanent injunction until trial has been
fixed on 11 August 2004 and PPD has sought legal advice to
contest the permanent injunction application.


KUMPULAN GUTHRIE: Executes Stock Purchase Agreement
---------------------------------------------------
Kumpulan Guthrie Berhad announced to Bursa Malaysia Securities
Berhad that a Stock Purchase Agreement (Stock Purchase
Agreement) has been executed in June 2004 among Kumpulan Guthrie
Berhad (KGB), Symington Overseas Investments, Inc (SOII) and
Dean Chirempes, for the sale by KGB and SOII (referred to as
Sellers in the Stock Purchase Agreement) and purchase by Dean
Chirempes (referred to as Buyer in the Stock Purchase Agreement)
of all the issued and outstanding shares in Guthrie Latex, Inc.
(GLI).

SOII and GLI are effectively 100 percent subsidiary companies of
KGB. Dean Chirempes was formerly a Vice President of GLI.

The salient terms of the Stock Purchase Agreement are as
follows:

(a) The Buyer shall purchase from the Sellers all the issued and
outstanding shares in GLI, comprising 10 issued shares of common
stock and five million issued shares of preferred stock.

(b) The Buyer shall pay to the Sellers USD2,195,900 by delivery
of two promissory notes in the amounts of USD1,098,900 and
USD1,097,000 which are due and payable on 30 June 2004 and 31
July 2004,respectively. The sum of USD1,097,000 has been
received by KGB on 30 June 2004.

(c) The Buyer is purchasing the shares, assets and liabilities
of GLI on an as is, where is basis unless expressly stated
otherwise.

Consequent upon the completion of the sale of the issued shares
of GLI, the following companies, which are 100 percent
subsidiaries of GLI, will also cease to be subsidiaries of KGB:

(a) Envirotech Enterprises, Inc.

(b) 2555 North Jackrabbit, Inc.

(c) Guthrie Data Systems, Inc.

The sale of the issued shares of GLI has no material effect on
the net tangible assets and earnings of KGB.

None of the directors and/or major shareholders of KGB have any
interest, direct or indirect, in the transaction.


KUMPULAN GUTHRIE: Updates Disposal Of Unit's Shares
---------------------------------------------------
Further to the announcements made on 1 July 2004 (Ref No: KG-
040629-41928 and Ref No: KG-04701-68610) on the disposal of all
issued and outstanding shares in Guthrie Latex, Inc., Kumpulan
Guthrie Berhad announced to Bursa Malaysia Securities Berhad
that:

(a) The Stock Purchase Agreement was dated 11 June 2004 and this
date has also been deemed as the date of closing of the
transaction contemplated by the Stock Purchase Agreement.

(b) The purchase price under the Stock Purchase Agreement,
however, is payable in two installments. The first installment
of USD1,100,000 was received on 30 June 2004 and the second
installment of USD1,100,000 is due and payable on 31 July 2004.

(c) The transaction under the Stock Purchase Agreement is not
subject to approval from the shareholders of Kumpulan Guthrie
Berhad.


KUMPULAN GUTHRIE: Updates Disposal Of Unit's Shares
---------------------------------------------------
Further to the announcements made on 1 July 2004 (Ref No: KG-
040629-41928 and Ref No: KG-04701-68610) on the disposal of all
issued and outstanding shares in Guthrie Latex, Inc., Kumpulan
Guthrie Berhad announced to Bursa Malaysia Securities Berhad
that:

(a) The Stock Purchase Agreement was dated 11 June 2004 and this
date has also been deemed as the date of closing of the
transaction contemplated by the Stock Purchase Agreement.

(b) The purchase price under the Stock Purchase Agreement,
however, is payable in two installments. The first installment
of USD1,100,000 was received on 30 June 2004 and the second
installment of USD1,100,000 is due and payable on 31 July 2004.

(c) The transaction under the Stock Purchase Agreement is not
subject to approval from the shareholders of Kumpulan Guthrie
Berhad.


MCQUAY BEIRUT: Informs BMSB Of Dissolution
------------------------------------------
On 5 January 2004, O.Y.L. Industries Berhad announced to Bursa
Malaysia Securities Berhad the Member's Voluntary Winding-up of
McQuay Beirut (Offshore), Inc, S.A.L. (MQB), an indirect
subsidiary of the Company.

The company now writes to inform that MQB has been dissolved.

This announcement is dated 2 July 2004.


MCSB SYSTEMS: Issues Details of Proposed Restructuring Scheme
-------------------------------------------------------------
MCSB SYSTEMS (M) Berhad issued to Bursa Malaysia the details of
its Proposed Restructuring Scheme.

(1) INTRODUCTION

Hwang-DBS Securities Berhad (Hwang-DBS), on behalf of the Board
of Directors of MCSB, wishes to announce that MCSB had on 1 July
2004 entered into a Restructuring Agreement with Jendela Bumi
Sdn Bhd (JBSB), Jinan Iron and Steel Group Corporation (JISG)
and Jinan Steel International Trade Co. Ltd. (JSIT) to
facilitate the proposed restructuring of MCSB which will involve
the following exercises:

(i) Proposed share exchange of the entire issued and paid-up
share capital in MCSB of up to 75,387,967 ordinary shares of
RM1.00 each (MCSB Shares) for up to 15,077,593 new ordinary
shares of RM1.00 each in Newco, a special purpose vehicle which
shall assume the listing status of MCSB, on the basis of one (1)
new ordinary share of RM1.00 each in Newco (Newco Share) for
every five (5) existing MCSB Shares held (Proposed Share
Exchange);

(ii) Proposed acquisition of 354,180,576 ordinary shares of
RM1.00 each representing the entire equity interest in Ji Kang
Dimensi Sdn Bhd (Ji Kang) for a purchase consideration of
RM400,000,000 to be satisfied by the issuance of 400,000,000 new
Newco Shares at an issue price of RM1.00 per Newco Share
(Proposed Ji Kang Acquisition);

(iii) Proposed restricted renounceable offer for sale of up to
15,077,593 Newco Shares by certain vendors of Ji Kang to the
existing shareholders of MCSB on the basis of one (1) Newco
Share for each existing Newco Share held after the Proposed
Share Exchange at an offer price of RM1.00 per Newco Share
(Proposed Restricted Offer for Sale);

(iv) Proposed transfer of the listing status of MCSB on the
Second Board of Bursa Malaysia Securities Berhad (Bursa
Securities) to Newco (Proposed Transfer of Listing Status); and

(v) Proposed exemption to the vendors of Ji Kang from the
obligation to undertake a mandatory offer under the Malaysian
Code on Take-Overs and Mergers 1998 (Proposed Exemption).

The Proposed Share Exchange, Proposed Ji Kang Acquisition,
Proposed Restricted Offer for Sale, Proposed Transfer of Listing
Status and Proposed Exemption are collectively referred to as
Proposed Restructuring Scheme in this announcement.

For more information, click
http://bankrupt.com/misc/MSCBSYSTEMS070104.pdf


MENTIGA CORPORATION: Awaits SC Decision On Proposals
----------------------------------------------------
Further to the status report made on 1 June 2004, Mentiga Corp.
Berhad announced to Bursa Malaysia Securities Berhad that it is
still awaiting the decision of the Securities Commission for the
comprehensive proposals, which was announced on 25 February
2004.

On 7 June 2004, Mentiga announced that the 18 percent variance
in Mentiga audited results for the year ended 31 December 2003
compared to its unaudited results which was announced to BMSB on
25 February 2004 was due to the following reasons:

(1) Adjustments in relation to adoption of MASB 25: Income
taxes; and

(2) Audit adjustments on reversal of provision and others.


MYCOM BERHAD: No Changes In Status Of Restructuring Scheme
----------------------------------------------------------
Mycom Berhad released its Monthly Status announcement pursuant
to Practice Note No. 4/2001 in relation to paragraph 8.14 of the
listing requirements of Bursa Malaysia Securities Berhad.

The Board of Directors of Mycom wishes to announce that there is
no major change in status of the Proposed Restructuring Scheme
since the last monthly status announcement on 1 June 2004. Mycom
is currently working on the implementation of the said Scheme.


NAUTICALINK BERHAD: Updates Corporate Restructuring Proposal
------------------------------------------------------------
In compliance with PN4, the Board of Directors of Nauticalink
Berhad (NB) is obliged to announce that there have been no
further developments on the revised corporate restructuring
proposals since the previous announcement dated 1 June 2004.


OMEGA HOLDINGS: Releases Monthly Status Announcement
----------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Omega
Holdings Berhad issued its Monthly Status announcement pursuant
to paragraph 4.1(b) of Practice Note no. 4/2001 of the Listing
Requirements of Bursa Malaysia Securities Berhad.

The company refers to our announcement on 1 June 2004 and 28 May
2004.

Omega Holdings Berhad (Omega) had announced on 28 May 2004 that
the Securities Commission (SC) had on 27 May 2004 requested
Bursa Malaysia to defer the listing of Energro Berhad until
further notice. The SC is still investigating on the matter and
has not informed Omega the completion of its investigation.

This announcement serves as the monthly status announcement in
compliance with the Practice Note 4/2001 of the Listing
Requirements of Bursa Malaysia.


PAN MALAYSIA: No Changes In Plan Status
---------------------------------------
Pan Malaysia Holdings Berhad informs Bursa Malaysia Securities
Berhad that, since our last announcement on 1 June 2004, there
has been no change in the status of the plans disclosed in the
First Announcement of 26 February 2001, save for the changes
disclosed in our announcements on 2 May 2001, 2 July 2001, 28
October 2002 and 19 April 2004, the announcements on 25 February
2002, 19 August 2002, 12 September 2002, 25 October 2002, 4
April 2003, 20 May 2003, 15 January 2004 and 16 March 2004 made
by Commerce International Merchant Bankers Berhad (CIMB) on
behalf of the Company and the announcement on 9 July 2002 made
by CIMB on behalf of Pan Malaysia Capital Berhad, a 73.89
percent owned subsidiary of the Company.


PILECON ENGINEERING: BMSB Suspends Trading Of Securities
--------------------------------------------------------
Bursa Malaysia Securities Berhad (BMSB) announced that trading
in Pilecon Engineering Berhad's securities was suspended
effective 9:00 a.m., Thursday, 1 July 2004 until further notice.

Your attention is drawn to the Company's announcement dated 30
June 2004.


REKAPACIFIC BERHAD: Releases Monthly Status Announcement
--------------------------------------------------------
The Board of Directors of RekaPacific Berhad announced the
following to Bursa Malaysia Securities Berhad (the Fortieth
Monthly Status Announcement):

(1) In respect of the Company's judicial review proceedings
against the Bursa Malaysia Securities Berhad and the Securities
Commission in their first decision to de-list the Company on 12
December 2001, the developments are:

(i) On 5 April 2004, the Exchange filed an application for
clarification of the Stay Order dated 24 December 2001. The
application is fixed for hearing on 7 October 2004; and

(ii) On 9 June 2004, the Exchange filed an application to strike
out the Company's judicial review proceedings. The application
is fixed for hearing on 7 October 2004.

(2) In respect of the second decision of the Bursa Malaysia
Securities Berhad to de-list the Company on 26 March 2004, the
developments are:

(i) On 5 May 2004, the Company filed an application for leave to
institute judicial review proceedings against the Exchange. The
application is fixed for hearing on 24 August 2004.

Yours faithfully
For and on behalf of
BOARD OF DIRECTORS OF REKAPACIFIC BERHAD


RNC CORPORATION: Explains Restructuring Status
----------------------------------------------
RNC Corp. Berhad issued to Bursa Malaysia Securities Berhad its
monthly reporting of status of Corporate and Debt Restructuring
Scheme pursuant to Paragraph 4.1 (b) of the Practice Note No.
4/2001.

(1) Reference is made to paragraph 4.1 (b) of the Practice Note
4/2001.

- Announcement of the status of its plan to regularize its
financial condition on a monthly basis until further notice from
the Exchange.

(2) Reference is also made to the First Announcement on 19th
February 2001 on the Proposed Corporate and Debt Restructuring
Scheme (PRS), the previous Monthly Status Announcements since
1st March 2001 and also all the announcements pertaining to the
PRS.

(3) On 18th April 2003, the Company and its advisers, OSK
Securities Berhad had submitted the proposed modifications to
the PRS to the Securities Commission (SC), Ministry of
International Trade and Industry (MITT), Federal Economic
Planning Unit (EPU) and Foreign Investment Committee (FIC) for
their approvals.

(4) SC had via its letter dated 13th November 2003 and 17th
November 2003 approved the proposed modifications to the PRS.
The approval of the SC on the PRS was subject to compliance of
stipulated terms and conditions as announced on 18th November
2003 and 19th November 2003.

(5) The Working Due Diligence Committee is in the process of
complying with the terms and conditions as stipulated by the SC.

(6) SC had vide its letter dated 15th April 2004 extended the
implementation of the PRS to 16th October 2004.

(7) RNC has disposed its wholly owned subsidiary company,
Syarikat Nam Ah Sdn. Bhd. as announced on 11th June 2004. The
said disposal forms part of the PRS.


SATERAS RESOURCES: Details Status Of Practice Note
--------------------------------------------------
The Board of Directors of Sateras Resources (Malaysia) Berhad
announced to Bursa Malaysia Securities Berhad that there is no
development further to the announcement made on 1st June
pursuant to paragraph 4.1b of the Practice Note 4/2001 of the
Listing Requirements.


TANJONG PUBLIC: BMSB Relates Dealings During Open Period
--------------------------------------------------------
Tanjong Public Ltd. Co. received a notification pursuant to
Paragraph 14.09 (a) of the Listing Requirements of Bursa
Malaysia Securities Berhad (Bursa Malaysia) of Dealings during
Open Period.

Bursa Malaysia announced that Tanjong has been notified on 1
July 2004 of the following dealing by Lee Siew Lan, a Principal
Officer of the Company pursuant to Paragraph 14.09 (a) of the
Listing Requirements of Bursa Malaysia:

(i) That she has disposed in the open market of the Bursa
Malaysia, 10,200 shares of 7.5 pence each in Tanjong
representing 0.0025% of the issued share capital of Tanjong as
at the date of the transaction;

(ii) Date of transaction - 24 June 2004; and

(iii) Transaction price - RM12.80 per share of 7.5 pence each.


TELEKOM MALAYSIA: Releases New Composition Of Board
---------------------------------------------------
Telekom Malaysia Berhad has furnished Bursa Malaysia Securities
Berhad a copy of a press statement to be released by Telekom
Malaysia Berhad in relation to Board changes and Restructuring
of its unit TM TelCo for Bursa Malaysia's information.

To view full copy of the press statement, click
http://bankrupt.com/misc/TELEKOMMALAYSIA070104.doc


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


EASYCALL COMMUNICATIONS: Gives PSE Copy of Amended SEC Form 17-Q
----------------------------------------------------------------
Easycall Communications Philippines Inc. (ECP) has furnished the
Philippine Stock Exchange a copy of its Amended Quarterly Report
using SEC Form 17-Q for the quarter ended March 31, 2004.

A copy of ECP's Amended Quarterly Report shall be made available
for reference at the PSE Centre and PSE Plaza libraries. The
same shall likewise be made available for downloading at the PSE
website: www.pse.com.ph (under Listed Companies).


NATIONAL POWER: To Implement Measures To Compete With IPPs
----------------------------------------------------------
As part of a four-point strategy to ensure the continuous supply
of electricity, state-owned National Power Corp. (Napocor) is
set to implement measures that would allow the troubled power
firm to directly compete with independent power producers (IPPs)
in selling electricity to distributors and customers, reveals
BusinessWorld, citing Napocor president Rogelio Murga.

Speaking during the Napocor Management Conference last week, Mr.
Murga said: "In the past, we could afford to just sit and wait
for the customers to come to us because we were a monopoly. But
now, we can't do that anymore, we have to go out and sell, sell,
sell. We have to reach out to potential customers, and continue
servicing efficiently the requirements of existing customers."

According to Mr. Murga, among the additional customers being
eyed by Napocor are power-intensive companies with embedded
generating units. Such companies, he said, might find it more
practical to source their electricity supply from Napocor, given
the rising cost of fuel used in running self-generating units.

Napocor should also intensify its collection efforts, and should
be more firm in exercising its policy of disconnecting customers
with delinquent accounts, Mr. Murga said.

He also urged executives to implement "belt-tightening measures"
to maximize Napocor's savings, in accordance with President
Gloria Macapagal-Arroyo's call for frugality.

Napocor will likewise continue to pursue various initiatives
aimed at organizational development, including training programs
that will eventually transform its 3,700-strong work force into
"world-class employees."


NATIONAL POWER: Four Power Plants Eyed By Lopez Firm
----------------------------------------------------
Four more power-generating assets of National Power Corporation
(Napocor) are being eyed for acquisition by Lopez-owned First
Generation Holdings Inc. (FirstGen), reports The Philippine
Star, quoting FirstGen senior vice president Ernesto Pantangco.

According to Mr. Pantangco, the company has already expressed
its interest to bid for the state power firm's 600-megawatt (MW)
Masinloc, 1.2 MW Loboc, and 75 MW Ambuklao/100 MW Binga power
plants. He said that they are currently on the lookout for
partners to form a consortium for the Masinloc bid.

FirstGen, which already has interests in diesel-fired Bauang
Private Power Corp. and natural gas-fired Santa Rita and San
Lorenzo power facilities, has successfully bid for the 1.6
megawatt (MW) Agusan hydroelectric power plant (HEP) in Bukidnon
last June 4 for US$1.5 million.


NATIONAL STEEL: Local Govt Recalls Tax Write-off Pledge
-------------------------------------------------------
In a move that could derail the sale of National Steel Corp. to
India's Global Infrastructure Holdings Ltd., the recently-
elected mayor of Iligan City, where National Steel's sprawling
facility is located, has decided to take back an earlier pledge
to condone the reopened steel firm's unpaid real estate taxes
amounting to PhP700 million, BusinessWorld reports.

According to Philippine National Bank (PNB) president Lorenzo
Tan, the recall of the tax write-off pledge by Iligan mayor
Lawrence Lluch Cruz is a much-bigger problem than Malaysian
national asset management company Pengurusan Danaharta Nasional
Berhad's rejection of the sale or the tariff protection request
of Global.

"The bigger problem which can delay the closure [of the sale] is
the real estate tax issue because the creditors want full
condonation," he said.

Former Iligan Mayor Franklin Quijano, with the assent of then-
vice mayor Mr. Cruz and the city council, promised last year to
condone National Steel's obligations.

Mr. Tan said that if Iligan indeed reversed its earlier
decision, a new round of talks would be needed since both
creditor banks and Global do not want to shoulder the firm's
unpaid real estate taxes.


NATIONAL STEEL: Prices of Canned Goods To Rise On Tariff Hike
-------------------------------------------------------------
If the Philippine government approves National Steel Corp.'s
request to raise the tariff on tinplates and other steel
products, the prices of canned goods in the country would also
rise, reveals The Manila Times, citing the Filipino Galvanizers
Institute (FGI).

According to FGI president Salvio Perez, the cost of sardines
would increase from PhP9 per 155-gram can to PhP10.20, a 300-
milliliter can of condensed filled milk would go up from PhP32
to PhP38-40 and a can of evaporated milk would also climb by
PhP5.40 a can from PhP27 to PhP32.40 once the NSC request is
approved.

Indian firm Global Steel Works International Inc., National
Steel's new owners, is seeking a 35-percent tariff on tin plates
and a 30-percent duty on hot rolled coils and cold roiled coils.

Earlier, the Philippine Association of Meat Processors Inc. had
also said the packaging costs of meat processors would also be
pushed up by an increase in duty rate on tinplates.

At present, the government imposes a zero-percent tariff on tin
mill block plates, which are used in the manufacture of tin cans
for sardines, milk and cooking oil; and 3 percent on hot rolled
coils, which are the base materials for liquefied petroleum gas
tanks and cold roiled coils, which are used for roofing sheets.


NEGROS NAVIGATION: Attempting To Stop Ship Sale
-----------------------------------------------
Debt-saddled Negros Navigation Co. (Nenaco) has filed a petition
seeking a stop to the proposed sale of one of its vessels,
saying the company and creditor Pilipinas Shell Petroleum Corp.
stand to lose a total of PhP333.27 million if the sale pushes
through, The Manila Times reports.

In a six-page motion, Nenaco urged the court to junk Shell's
petition for the immediate sale of M/V St. Ezekiel Moreno,
saying it would result in losses for both companies. The oil
firm petitioned the Manila Regional Trial Court on June 8 to
immediately sell the ship and to place in escrow the sale
proceeds in its favor.

"The sale of the M/V St. Ezekiel Moreno will not put creditor
Shell in a better position or give it adequate protection over
the property securing its claim because the proceeds of the sale
would only amount to PhP18 million, representing only 8.43
percent of its PhP213.48-million claim, against petitioner
[Nenaco]," the motion read.

If the ship is sold without the necessary repairs, its scrap
value would only amount to PhP18 million, Nenaco said. The firm
added that the audited net book value of the shipping vessel as
of December 2003 is PhP372.16 million while the unaudited net
book value as of May 2004 is PhP353.27 million.

The Nenaco petition also denied the oil firm's claims that M/V
St. Ezekiel Moreno is not part of its rehabilitation plan. As
payment of Nenaco's obligations mainly depends on the continued
operation of the firm's shipping vessels, the sale of the ship
would reduce cash flow needed to rehabilitate Nenaco.

The company said it is still trying to raise the PhPP30.88
million needed to repair the vessel to make it operational. A
fully operational M/V St. Ezekiel Moreno, Nenaco said, is
projected to earn an annual gross income of PhP248.75 million,
annual vessel operating income of PhP48.61 million and EBITDA of
PhP72.21 million.

Aside from its PhP213.48-million obligation to Shell, Nenaco
also owes some PhP1 billion to several banks, which account for
about 40 percent of the company's PhP2.5-billion debt.


PHILIPPINE LONG: To Consolidate Wireless Ops
--------------------------------------------
Philippine Long Distance Telephone Co. (PLDT) has announced its
plans to consolidate all of its wireless business under Smart
Communications Inc. as soon as the wireless operator takes over
92 percent of the outstanding shares of sister firm Pilipino
Telephone Corp. (Piltel) by the second half of the year,
reported The Manila Times over the weekend.

With the closure of the debt exchange transaction between Smart
and Piltel's creditors Saturday, Smart will effectively absorb
US$289 million out of Piltel's US$417 million restructured debt.

Smart also said in a statement on Saturday that it has entered
into a sale and purchase agreement to acquire PLDT's 45-percent
stake in Piltel for PhP2.066 billion.

"At a later stage, Smart intends to acquire the common shares
held by PLDT in Piltel, thereby consolidating PLDT's wireless
holdings," Smart said.

Initially, Smart plans to convert 4.825 million of Piltel's 59.3
million Series K preferred shares into 820.25 million common
shares of Piltel. With this move, Smart would end up owning 32.7
percent of Piltel's expanded common shares, with PLDT's
ownership of Piltel diluted to 30.5 percent.

After Piltel has raised its authorized capital stock from the
current PhP3.5 billion to PhP12.8 billion, the balance of 54.468
million preferred shares would then be converted into common
shares. Once full conversion is achieved, PLDT and Smart would
jointly own 92.1 percent of Piltel's common stock.

Piltel has set a special stockholders' meeting on Sept. 3 to
consider the proposed increase in the company's authorized
capital stock.


PHILIPPINE LONG: PSE Approves Additional Listing Of 8,018 Shares
----------------------------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000 the
application submitted by Philippine Long Distance Telephone Co.
(PLDT) to list additional 1,289,745 common shares, with a par
value of PhP5.00 per share, to cover the Executive Stock Option
Plan (ESOP) of the company, at an exercise price of Php814.00
per share.

In this connection, please be advised that a total of 8,018
common shares have been availed of and fully paid by the
optionees under the company's ESOP.

In view thereof, the listing of the 8,018 common shares is set
for today, July 6, 2004. This brings the number of common
shares listed under ESOP to a total of 79,392 common shares.

The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.


* Soon-To-Be-Merged Cable Firms Restructure PhP2.5B In Debts
------------------------------------------------------------
An agreement to restructure the combined PhP2.5 billion-debt of
cable companies Sky Vision, Central CATV, Inc., and Philippine
Home Cable Holdings, Inc. has been signed by their creditors
last Friday, reports BusinessWorld.

The agreement, which calls for the settlement of the said debts
over seven years, was signed by Asia United Bank, Asia United
Bank-Trust, Chinatrust (Philippines) Commercial Bank Corp.,
Development Bank of the Philippines, Bank of the Philippine
Islands, East West Banking Corp., International Commercial Bank
of China, Keppel Bank Philippines, Inc., Metropolitan Bank and
Trust Co., Bangkok Bank, China Banking Corp., Equitable PCI
Bank, Amalgamated Investment Bancorporation, and PCI Capital
Corp.

This year, the Lopez-owned SkyCable and Central CATV, and
Philippine Long Distance Telephone Co.'s Home Cable will start
deploying set-up boxes to subscribers in preparation for their
upcoming merger to become Beyond Cable.


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


CHARME LUNETTES: Enters Winding Up Proceedings
----------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Charme Lunettes International Pte Ltd. by the High Court was, on
June 24, 2004, presented by United Overseas Bank Limited, a
company incorporated in Singapore and having its registered
office address at 80 Raffles Place, #25-01 UOB Plaza 1,
Singapore 048624, Creditor. The said Petition will be heard
before the Court sitting at the High Court at 10.00 o'clock in
the forenoon, on July 16, 2004.

Any creditor or contributory of the said Company desiring to
support or oppose the making of an order on the said Petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the Petition will be furnished to any
creditor or contributory of the said Company requiring copy of
the Petition by the undersigned on payment of the regulated
charge for the same.

The Petitioner's address is 80 Raffles Place, #25-01 UOB Plaza
1, Singapore 048624.

The Petitioner's Solicitors are Messrs Khattar Wong & Partners
of 80 Raffles Place, #25-01 UOB Plaza 1, Singapore 048624.

Messrs KHATTAR WONG & PARTNERS
80 Raffles Place
#25-01 UOB Plaza 1
Singapore 048624.

Note: Any person who intends to appear on the hearing of the
said Petition must serve on or send by post to the above named
Messrs Khattar Wong & Partners, the Petitioner's Solicitors,
notice in writing of his intention to do so. The notice must
state the name and address of the person, or, if a firm, the
name and address of the firm, and must be signed by the person
or firm, or his or their Solicitor (if any) and must be served,
or, if posted, must be sent by post in sufficient time to reach
the above named not later than twelve o'clock noon of the 15th
day of July 2004 (the day before the day appointed for the
hearing of the Petition).

This Singapore Government Gazette announcement is dated June 25,
2004.


EVERGREEN INTERNATIONAL: Creditors Must Prove Debts on August 2
---------------------------------------------------------------
The creditors of Evergreen International Corporation (S) Pte
Ltd, which is being wound up voluntarily, are required on or
before August 2, 2004 to send in their names and addresses and
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to the undersigned
Liquidators of the said Company. If required by notice in
writing by the said Liquidators, they are to come personally or
by their solicitors and prove their debts or claims at such time
and place as shall be specified in such notice. In default
thereof they will be excluded from the benefit of any
distribution made before such debts are proved.

CHEE YOH CHUANG
LIM LEE MENG
Liquidators.
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423.

This Singapore Government Gazette announcement is dated July 2,
2004.


INFORMATICS HOLDINGS: Berjaya to Block Share Sale to Oei Hong
-------------------------------------------------------------
Berjaya Leisure Capital, which now owns 28.2 percent of
Informatics, plans to veto the stock placement plan to tycoon
Oei Hong Leong, Channel News Asia reports.

BLC, a wholly owned unit of Malaysia's Berjaya Land, plans to
block the share sale to Mr. Oei next week because of its very
low subscription price of 25 cents a share.  The placement
involves 63 million new Informatics shares, which will make Mr.
Oei the second largest shareholder with 23.6%.

The Malaysian shareholder has an existing joint venture with
Informatics to set up a university in Pahang, a project that
could be jettisoned if Mr. Oei ascends further in the ownership
ladder.  Berjaya has promised to work with Informatics in
finding alternative funding sources, including, if appropriate,
a rights issue, the report said.

Meanwhile, amid active buying of Informatics shares following
revision of the firm's financial statement, broking houses
imposed trading restrictions on the firm's shares.  A SGD25,000
dollar per client maximum exposure was announced by OCBC
Securities last Friday.  The move prompted Singapore's biggest
broking house UOB Kay Hian to follow suit.

Despite its audited SG$42.5 million loss, Informatics on
Thursday was the most active trader and top gainer with a 36
percent surge and on Friday its share rose 8 percent to 47
cents.  More than 91 million shares exchanged hands.  The
unusual price movement sparked speculations that only a few
players were buying and selling to push up Informatics.


INFORMATICS HOLDINGS: Change in Berjaya Group Holdings
------------------------------------------------------
Informatics Holdings Limited releases Notice Of a Change in the
Percentage Level of a Berjaya Group Berhad's Interest.

PART I

(1) Date of notice to issuer: July 2, 2004

(2) Name of Substantial Shareholder: Berjaya Group Berhad

(3) Please tick one or more appropriate box (es):

x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)

PART II

(1) Date of change of interest:

(2) Name of Registered Holder:

(3) Circumstance(s) giving rise to the interest or change in
interest:

(4) Information relating to shares held in the name of the
Registered Holder: -

No. of shares held before the change:
As a percentage of issued share capital:

No. of shares which are the subject of this notice:
As a percentage of issued share capital:

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:

No. of shares held after the change:
As a percentage of issued share capital:

PART III

(1) Date of change of interest: July 2, 2004

(2) The change in the percentage level: From 21.76% to 28.20%

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Acquisition of shares through the open
market by the related companies, Berjaya Leisure Capital
(Cayman) Limited (BLCCL) and Berjaya General Insurance Berhad
(BGI) *

(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Series of purchases through the open market

PART IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest: -

- Direct Deemed
No. of shares held before change:  68,247,000
% of issued share capital:  21.76
-
No. of shares held after change:  88,426,000
% of issued share capital:  28.2


* BLCCL acquired an additional 6.18% and BGI acquired 0.25%

Submitted by Raymond Quek Hiong How, Company Secretary on July
2, 2004 to the Singapore Stock Exchange.


INFORMATICS HOLDINGS: Posts Change in Berjaya Land Interest
-----------------------------------------------------------
Informatics Holdings Limited issues Notice Of a Change in the
Percentage Level of a Berjaya Land Berhad's Interest.

PART I

(1) Date of notice to issuer: July 2, 2004

(2) Name of Substantial Shareholder: Berjaya Land Berhad (BLand)

(3) Please tick one or more appropriate box(es):

x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)

PART II

(1) Date of change of interest:

(2) Name of Registered Holder:

(3) Circumstance(s) giving rise to the interest or change in
interest:

(4) Information relating to shares held in the name of the
Registered Holder: -

No. of shares held before the change:
As a percentage of issued share capital:

No. of shares which are the subject of this notice:
As a percentage of issued share capital:

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:

No. of shares held after the change:
As a percentage of issued share capital:

PART III

(1) Date of change of interest: July 2, 2004

(2) The change in the percentage level: From 19.57% to 25.75%

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Acquisition of shares through the open
market by Berjaya Leisure Capital (Cayman) Limited, a wholly-
owned subsidiary of BLand

(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Series of purchases through the open market

PART IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest:

Direct Deemed
No. of shares held before change:  61,366,000
% of issued share capital:  19.75
-
No. of shares held after change:  80,745,000
% of issued share capital:  25.75

Submitted by Raymond Quek Hiong How, Company Secretary on July
2, 2004 to the Singapore Stock Exchange.


INFORMATICS HOLDINGS: Berjaya Leisure Holdings Interest Changes
---------------------------------------------------------------
Informatics Holdings Limited posts Notice Of a Change in the
Percentage Level of a Berjaya Leisure Capital's Interest.

PART I

(1) Date of notice to issuer: July 2, 2004
(2) Name of Substantial Shareholder: Berjaya Lesiure Capital
(Cayman) Limited

(3) Please tick one or more appropriate box(es):

x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)

PART II

(1) Date of change of interest:

(2) Name of Registered Holder:

(3) Circumstance(s) giving rise to the interest or change in
interest:

(4) Information relating to shares held in the name of the
Registered Holder: -

No. of shares held before the change:
As a percentage of issued share capital:

No. of shares which are the subject of this notice:
As a percentage of issued share capital:

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:

No. of shares held after the change:
As a percentage of issued share capital:

PART III

(1) Date of change of interest: July 2, 2004
(2) The change in the percentage level: From 19.57% to 25.75%

(3) Circumstance(s) giving rise to the interest or change in
interest: Open market purchase
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Series of purchases through the open market

PART IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest: -

- Direct Deemed
No. of shares held before change: 61,366,000
% of issued share capital: 19.57
-
No. of shares held after change: 80,745,000
% of issued share capital: 25.75

Submitted by Raymond Quek Hiong How, Company Secretary on July
2, 2004 to the Singapore Stock Exchange.


INFORMATICS HOLDINGS: Details Changes In Teras Mewah Interest
-------------------------------------------------------------
Following is a Notice Of a Change in the Percentage Level of a
Substantial Shareholder's Interest filed by Informatics Holdings
Ltd. with the Singapore Exchange:

Part I

(1) Date of notice to issuer:02/07/2004

(2) Name of Substantial Shareholder: Teras Mewah Sdn Bhd

(3) Please tick one or more appropriate box(es):
     (Please complete Parts II and IV)
a Change in the Percentage Level of a Substantial Shareholder's
Interest or Cessation of Interest.
     (Please complete Parts III and IV)

Part II

(1) Date of change of interest:

(2) Name of Registered Holder:

(3) Circumstance(s) giving rise to the interest or change in
interest:

(4) Information relating to shares held in the name of the
Registered Holder: -

No. of shares held before the change:

As a percentage of issued share capital:

No. of shares which are the subject of this notice:

As a percentage of issued share capital:

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:

No. of shares held after the change:

As a percentage of issued share capital:

Part III

(1) Date of change of interest:02/07/2004

(2) The change in the percentage level: From 19.75% to 25.75%

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Acquisition of shares through the open
market by the related company, Berjaya Leisure Capital (Cayman)
Limited

(4) A statement of whether the change in the percentage level is
the result of a transaction or
a series of transactions.
Series of purchases through the open market

Part IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest:

Amount of consideration is denominated in Singapore dollars
unless otherwise noted.


INFORMATICS HOLDINGS: Issues Change in Tan Sri Holdings
-------------------------------------------------------
Informatics Holdings Limited releases Notice Of a Change in the
Percentage Level of a Substantial Shareholder's Interest.

PART I

(1) Date of notice to issuer: July 2, 2004

(2) Name of Substantial Shareholder: Tan Sri Dato' Seri Vincent
Tan Chee Yioun

(3) Please tick one or more appropriate box(es):

x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)

PART II

(1) Date of change of interest:

(2) Name of Registered Holder:

(3) Circumstance(s) giving rise to the interest or change in
interest:

(4) Information relating to shares held in the name of the
Registered Holder: -

No. of shares held before the change:
As a percentage of issued share capital:

No. of shares which are the subject of this notice:
As a percentage of issued share capital:

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:

No. of shares held after the change:
As a percentage of issued share capital:

PART III

(1) Date of change of interest: July 2, 2004.

(2) The change in the percentage level: From 21.76% to 28.20%

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Acquisition of shares through the open
market by the related companies, Berjaya Leisure Capital
(Cayman) Limited ("BLCCL") and Berjaya General Insurance Berhad
("BGI")*

(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Series of purchases through the open market


PART IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest:

Direct Deemed
No. of shares held before change:  68,247,000
% of issued share capital:  21.76

No. of shares held after change:  88,426,000
% of issued share capital:  28.2


* BLCCL acquired an additional 6.18% and BGI acquired 0.25%

Submitted by Raymond Quek Hiong How, Company Secretary on July
2, 2004 to the Singapore Stock Exchange.


LEVER BROTHERS: Creditors Must Submit Claims by August 2
--------------------------------------------------------
The creditors of Lever Brothers Singapore SDN. BHD., which is
being wound up voluntarily, are required on or before August 2,
2004 to send in their names and addresses and particulars of
their debts or claims, and the names and addresses of their
solicitors (if any) to the undersigned Liquidators of the said
Company. If required by notice in writing by the said
Liquidators, they are to come personally or by their solicitors
and prove their debts or claims at such time and place as shall
be specified in such notice. In default thereof they will be
excluded from the benefit of any distribution made before such
debts are proved.


CHEE YOH CHUANG
LIM LEE MENG
Liquidators.
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423.

This Singapore Government Gazette announcement is dated July 2,
2004.


MARLEX DISTRIBUTORS: Winding Up Order Filed
-------------------------------------------
In the Matter of Marlex Distributors Pte Ltd (formerly known as
Brumag Marketing Pte Ltd, a Winding Up Order made on June 11,
2004.

Name and address of Liquidator: Mr David Kung Seah Lim
c/o Kung Seah Lim Consultancy Pte Ltd
336 Smith Street
#05-310 New Bridge Centre
Singapore 050336.

Messrs DAVID LIM & PARTNERS
Solicitors for the Petitioner.

This Singapore Government Gazette announcement is dated June 29,
2004.


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


THAI PETROCHEMICAL: Minister Wants TPI under MoF, PTT
-----------------------------------------------------
Thailand's Minister of Finance has confirmed that he wants Thai
Petrochemical Industry Plc (TPI) to be under the control of the
Ministry of Finance (MoF) and PTT Plc, reports Business Day.

"I would like these state agencies to hold majority stakes in
TPI and PTT is likely to hold a stake of about 20-30 percent in
the company initially in order to help facilitate TPI's revised
rehabilitation plan, Finance Minister Somkid Jatusripitak said.

Mr. Somkid, however, said that he will oversee matters himself
to make sure that TPI does not turn into just another state-
owned business, especially with the state agencies holding
majority stakes.

TPI, Thailand's largest petrochemical company by sales, became
the nation's biggest defaulter after the de facto devaluation of
the Thai baht in 1997. The firm is now under a US$2.95 billion
debt restructuring scheme, with the Ministry of Finance as its
plan administrator.




* BOND PRICING: For the Week 5 July to July 9, 2004

---------------------------------------------------

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

  AUSTRALIA
  ---------

Advantage Group                      10.000%     4/15/06    1
Amcom Telecommunications Ltd         10.000%    10/28/07    2
APN News & Media Ltd                  7.250%    10/31/08    5
Australian Food & Fibre Ltd.          4.000%     12/4/08   10
Bendigo Bank Ltd                      8.000%     5/29/49   10
BIL Finance Ltd                       8.000%    10/15/07    9
BIL Finance Ltd                       8.250%    10/15/04   10
BIL Finance Ltd                       8.750%    10/15/04    9
BIL Finance Ltd                       8.750%    10/15/05    9
BIL Finance Ltd                       9.000%    10/15/04    9
BIL Finance Ltd                       9.250%    10/15/06    9
BIL Finance Ltd                      10.000%    10/15/04    9
Capital Properties NZ Ltd             8.500%     4/15/05    7
Capital Properties NZ Ltd             8.500%     4/15/07    8
Capital Properties NZ Ltd             8.500%     4/15/09    8
Citigold Corp.                       12.000%     3/29/07    1
Consolidated Minerals Ltd            11.250%     3/31/05    1
Djerriwarrh Investments Ltd           7.500%     9/30/04    4
Evans & Tate Ltd                      8.250%    10/29/07    1
Fletcher Building Ltd                 7.800%     3/15/09    8
Fletcher Building Ltd                 7.900%    10/31/06    8
Fletcher Building Ltd                 8.300%    10/31/06    8
Fletcher Building Ltd                 8.600%     3/15/08    8
Fletcher Building Ltd                 8.750%     3/15/06    7
Fletcher Building Ltd                 8.850%     3/15/10    8
Fletcher Building Ltd                10.500%     4/30/05    7
Fernz Corp Ltd                        8.560%    10/15/06   8
Futuris Corporation Ltd               7.000%    12/31/07    2
Gympie Gold Ltd                       8.500%     9/30/07    1
Hy-Fi Securities Ltd                  7.000%     8/15/08    9
Hy-Fi Securities Ltd                  8.750%     8/15/08   12
Hutchison Telecoms Australia          5.500%     7/12/07    1
Infrastructure and Utility            8.500%     9/15/13    8
New South Wales Treasury Corporation  0.500%     2/16/10   73
NPT Capital Ltd                       9.500%    11/30/04   10
Nuplex Industries Ltd                 9.300%     9/15/07    8
Powerco Ltd                           8.150%      9/1/07    7
Powerco Ltd                           8.400%     5/22/07    7
Queensland Treasury Corporation       0.500%     5/19/10   73
Richmond Ltd                         10.750%    12/15/04   10
Salomon Smith Barney Australia        4.250%      2/1/09    9
Sapphire Securities                   9.250%    12/20/06    9
Sky Network Television Ltd            9.300%    10/29/49    8
Strathfield Group Ltd                11.000%    12/31/05    1
Structural Systems Ltd               11.000%     6/30/07    1
Tower Finance Ltd                     8.750%    10/15/07    9
TrustPower Ltd                        8.300%     9/15/07    8
TrustPower Ltd                        8.500%     9/15/12    8
Vision Systems Ltd                    9.000%    12/15/08    2


CHINA
-----

China Government Bond                  2.600%    9/20/17    73
China Government Bond                  2.900%    5/24/32    62
China Government Bond                  3.400%    4/17/23    74


  KOREA
  -----

Korea Electric Power Corporation       7.950%       4/1/96   56


  MALAYSIA
  --------

Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/05/07    1
Arus Murni Corporation Bhd             0.500%      8/24/06    1
Berjaya Group Bhd                      5.000%     10/17/09    1
Berjaya Land Bhd                       5.000%     12/30/09    1
Berjaya Sports Toto Bhd                8.000%      8/04/12    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Crest Builder Holdings Bhd             1.000%      2/25/08    1
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
Fountain View Development Sdn Bhd      3.500%      11/3/06    5
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Grand Central Enterprises Bhd          5.000%      2/17/05    1
Greatpac Holdings Bhd                  2.000%     12/11/08    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    1
I-Bhd                                  5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Killinghall Bhd                        5.000%      4/13/09    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Emas Bhd                      7.000%     11/15/04    1
Kumpulan Jetson                        5.000%     11/28/12    1
Lebar Daun Bhd                         2.000%       1/6/07    5
LBS Bina Group Bhd                     4.000%     12/31/06    1
LBS Bina Group Bhd                     4.000%     12/31/07    1
LBS Bina Group Bhd                     4.000%     12/31/08    1
Lion Diversified Holdings Bhd          2.000%       6/1/09    1
Malaysian Government                   6.850%      3/15/06   68
Media Prima Bhd                        2.000%      7/18/08    1
Mithril Bhd                            3.000%       4/5/12    1
Mithril Bhd                            8.000%       4/5/09    1
Mutiara Goodyear Development Bhd       2.500%      1/15/07    1
MWE Holdings                           5.500%      10/7/04    1
NAM Fatt Corporation Bhd               2.000%      6/24/11    1
Orlando Holdings Bhd                   3.000%      3/16/05    1
OSK Holdings Bhd                       3.500%       3/1/05    1
OSK Holdings Bhd                       6.000%       3/1/05    1
Pantai Holdings                        5.000%      3/28/07    1
Patimas Computer Bhd                   6.000%      2/19/06    1
Poh Kong Holdings                      3.000%      1/20/07    1
Prinsiptek Corporation Bhd             2.000%     11/20/06    1
Puncak Niaga Holdings Bhd              2.500%     11/20/16    1
POS Malaysia & Services Holdings Bhd   8.000%     11/26/04    1
Rashid Hussain Bhd                     0.500%     12/23/12    1
Rashid Hussain Bhd                     3.000%     12/23/12    1
Rhythm Consolidated Bhd                5.000%     12/17/08    1
Silver Bird Group Bhd                  1.000%      2/15/09    1
Southern Steel Bhd                     5.500%      7/31/08    2
Tanah Emas Corporation Bhd             2.000%      12/9/06    1
Talam Corporation Bhd                  7.000%      7/19/05    1
Talam Corporation Bhd                  7.000%      4/19/06    1
Tap Resources Bhd                      2.000%      6/29/06    1
Tenaga Nasional Bhd                    3.050%      5/10/09    1
Time Engineering Bhd                   2.000%     12/25/05    1
VTI Vintage Bhd                        4.000%      8/22/06    1
Wah Seong Corporation Bhd              3.000%      5/21/12    3
Yu Neh Huat Bhd                        3.000%       9/2/08    1


  SINGAPORE
  ---------

CSC Holdings Ltd                       6.500%      4/27/05    1
Rabobank Singapore                     1.000%      1/15/13   70
Sengkang Mall Ltd                      4.880%      11/20/12   1
Tampines Assets Ltd                    5.625%      12/7/06    1
Tincel Ltd                             5.000%      6/13/11    1
Tincel Ltd                             7.400%      6/13/11    1






                            *********


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

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

Copyright 2004.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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                 *** End of Transmission ***