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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

             Friday, August 6, 2004, Vol. 7, No. 155

                            Headlines

A U S T R A L I A

BRAMBLES INDUSTRIES: Issues Initial Director's Interest Notice
KINGSLEY BROWN: Court Appoints Provisional Liquidator to Units
MAYNE GROUP: Releases 2004 Earnings Update
NATIONAL AUSTRALIA: Appoints New Executive General Manager
NYLEX LIMITED: Completes Business Restructuring

PRIMELIFE CORPORATION: Issues Update On Funding Requirements
PRIMELIFE CORPORATION: Requests Trading Halt


C H I N A  &  H O N G  K O N G

401 HOLDINGS: Winding Up Petition Set August 18
CREATIVE LION: Winding up Hearing Set September 1
GLOBAL TREND: Proceeds to Third Stage of Delisting Procedures
GOLD-FACE HOLDINGS: Enters Third Stage of Delisting Procedures
I-CHINA HOLDINGS: Parallel Trading Starts Monday

LEADING VANTAGE: Creditors Meeting Slated for August 26
PARMALAT SPA: Chinese Operations Halt Production
WIN SIGHT: Enters Winding Up Proceedings
ZHU KUAN: Creditors Lose Battle


I N D O N E S I A

BANK PERMATA: UOB Confirms Interest in Stake Sale
PERTAMINA: Snags 22 Gas Deals Worth US$300M
PERTAMINA: To Shut One Cilacap Crude Distillation Unit
PT INDOFARMA: Tempo Drops Plan to Buy Unit


J A P A N

ALL NIPPON: Flies With ObjectStore Data Management
ASAHI LIFE: Upgrades Ratings to 'CCC+', Outlook Stable
DAIKYO INCORPORATED: Not Seeking IRCJ Aid
FUJITSU LIMITED: Ties Global Partnership with Cadence
K.K. ARUSHIA: Enters Bankruptcy

MITSUBISHI FUSO: Confirms 14 Other Clutch Defects
TOHORESUTORANKAIHATSU K.K.: Faces Insolvency
UFJ HOLDINGS: Court Reaffirms Merger Halt Order


K O R E A

KOOKMIN BANK: Picks GE Unit to Sell Offices
SK NETWORKS: Selling 14.3% Stake in Seoul Securities


M A L A Y S I A

AKTIF LIFESTYLE: AGM Set August 26
ANSON PERDANA: Financial Condition Unchanged
BERJAYA SPORTS: Issues Shares Buy Back Notice
DATAPREP HOLDINGS: SC OKs Proposed Private Shares Placement
DENKO INDUSTRIAL: Eon Finance Files Suit Against Firm

GULA PERAK: Issues Proposal to Renew Shareholder's Mandate
INTAN UTILITIES: Vista Meranti to Acquire Remaining Shares
METACORP BERHAD: Appoints Musraffa Mohd as Committee Member
NAM FATT: Issues Additional 2,037,000 Ordinary Shares
OSK HOLDINGS: Releases Notice of Shares Buy Back

PAN PACIFIC: Releases Restructuring Update
PWE INDUSTRIES: Bursa Securities Awaits SC Decision
UNITED CHEMICAL: SC OKs Revised Restructuring Scheme
WEMBLEY INDUSTRIES: Issues Practice Note 4/2001 Update
WOO HING: Financial Condition Unchanged

YCS CORPORATION: Releases Default Status Update


P H I L I P P I N E S

BACNOTAN CONSOLIDATED: Updates Sale of Shares in Union Cement
HOME GUARANTY: Fast-tracks Sale of PHP20Bln in Acquired Assets
HOUSE OF INVESTMENTS: Issues Update on Capital Restructuring
MANILA ELECTRIC: Releases Copy of Court of Appeals' Decision
MAYNILAD WATER: MWSS To Draw 25% of US$120Mln Performance Bond

PHILIPPINE LONG: Lists Additional 3,710 Common Shares
UNITED PARAGON: Needs US$20Mln to Revive Mine Ops


S I N G A P O R E

HARTFORD HOLDINGS: Clarifies Profit Warning Announcement
KIN LIN: Court Issues Winding Up Order
PENTON INTERNATIONAL: Posts Scheme of Arrangement Details


T H A I L A N D

EASTERN WIRE: Releases Changes in Major Shareholders
RAYONG WIRE: Completes Debt Restructuring
THAI PETROCHEMICAL: Releases Financial Restructuring Plan
* Large Companies With Insolvent Balance Sheets

     -  -  -  -  -  -  -  -

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


BRAMBLES INDUSTRIES: Issues Initial Director's Interest Notice
--------------------------------------------------------------
Brambles Industries Ltd. issued to the Australian Stock Exchange
an Initial Director's Interest Notice for Stephen Johns, who was
appointed as a Non-executive director on August 1, 2004,
detailing his relevant interest in the securities of Brambles
Industries Ltd. and Brambles Industries Plc under the Brambles
dual listed company structure.

To view full copy of the notice, click
http://bankrupt.com/misc/BRAMBLESINDUSTRIES080504.pdf

CONTACT:

Brambles Group (Australian: BIL )
Level 40, Gateway, 1 Macquarie Place
Sydney, 2000, Australia
Phone: +61-2-9256-5222
Fax: +61-2-9256-5299
Website: http://www.brambles.com


KINGSLEY BROWN: Court Appoints Provisional Liquidator to Units
--------------------------------------------------------------
In a company press release, the Australian Securities and
Investments Commission (ASIC) announced that it has obtained
orders in the Supreme Court of Victoria appointing a liquidator
and provisional liquidator to the Kingsley Brown group, which is
made up of four Melbourne-based property development companies.

Justice Philip Mandie ordered that two companies in the group,
Kingsley Brown Finance Pty Ltd and Kingsley Brown Holdings Pty
Ltd, be wound up. Mr. Paul Pattison of Pattisons Consulting was
appointed as liquidator.

The Court also ordered that Mr. Pattison be appointed the
provisional liquidator of the other two companies in the group,
Kingsley Brown Properties Pty Ltd and Kingsley Brown (Cowes) Pty
Ltd.

Consent orders made on 25 June 2004 restraining the sole
director of the companies, Boronia-based accountant Mr. Robert
Kingsley Brown, from receiving funds from the companies without
the provisional liquidator's consent, were also continued.

ASIC commenced proceedings following an investigation into the
Kingsley Brown group. ASIC was concerned that shareholder
investments in Kingsley Brown Finance Pty Ltd and Kingsley Brown
Holdings Pty Ltd were not adequately protected and had been
applied to property developments undertaken by other companies
in the Kingsley Brown group.

The Kingsley Brown group has developed a number of properties in
Cowes, Phillip Island.

The matter was adjourned to 10 September 2004.


MAYNE GROUP: Releases 2004 Earnings Update
------------------------------------------
Mayne Group Limited (ASX:MAY) announced in a press release on
Wednesday that based on its unaudited, preliminary full year
results, the Company expects net profit after tax for the year
ended 30 June 2004 to be approximately 15-20 percent higher than
the average analyst forecast of A$79.8 million.  This is driven
by a combination of factors including better operating
performances in most business units, a lower interest expense
and a lower effective tax rate.

Mayne's Group Managing Director and Chief Executive Officer, Mr.
Stuart James said that the stronger than expected operating
earnings are the result of the close attention that has been
paid to managing the performance across the whole portfolio of
Mayne's businesses.

"Our operating businesses have leading positions in their
respective markets and we are committed to driving continuing
performance improvements in all of them," he said.

Further information will be provided in Mayne's full year
results announcement on 26 August 2004.

Mayne Group Limited is listed on the Australian Stock Exchange
and has businesses in international specialty pharmaceuticals
(the manufacture of injectable and oral pharmaceuticals for
distribution to more than 50 countries), diagnostic services
(pathology, diagnostic imaging and medical centres), pharmacy,
and health-related consumer products.

CONTACT:

Mayne Group Ltd.
Head Office Address:
Level 21/390 St Kilda Rd Melbourne 3004
Head Office Phone: +613 9868-0700
Website: http://www.maynegroup.com/


NATIONAL AUSTRALIA: Appoints New Executive General Manager
----------------------------------------------------------
National Australia Bank's (NAB) Chief Executive, John Stewart,
announced in a press release on Thursday the appointment of
Cameron Clyne to the new role of Executive General Manager
Customer Solutions.

The Executive General Manager Customer Solutions will be
responsible for the review of all major projects. A key element
of the role will be to better co-ordinate and leverage these
major projects and focus on achieving the best outcome for
customers.

Mr. Clyne, 36, has previously been a partner with IBM Business
Consulting Services and PricewaterhouseCoopers. The majority of
his consulting experience has been associated with the financial
services industry and includes the development of programs for
organizational transformation and culture change.

'Cameron's extensive international consulting experience in
financial services will allow him to make a strong contribution
at the National and expedite our journey towards becoming a more
nimble competitor with enhanced customer focus,' Mr. Stewart
said.

'This appointment is another step along the way to revitalize
the National and its leadership team,' Mr. Stewart said.

CONTACT:

National Australia Bank Ltd.
Level 24, 500 Bourke Street,
MELBOURNE, VICTORIA, AUSTRALIA, 3000
Head Office Telephone: (03) 8641-4160
Head Office Fax: (03) 8641-4927
Website: http://www.national.com.au/


NYLEX LIMITED: Completes Business Restructuring
-----------------------------------------------
Nylex Limited announced to the Australian Stock Exchange that it
has recently completed the restructuring of its existing
businesses, leaving it with three major businesses: Plant Hire,
Consumer Products and Industrial Products.

To view a full copy of the Open Briefing on Restructuring, click
http://bankrupt.com/misc/NYLEXLTD072604.pdf

CONTACT:

Nylex Limited
Level 2, 564 St Kilda Road,
ST KILDA ROAD CENTRAL,
VICTORIA, AUSTRALIA, 3004
Head Office Telephone: 03 9533 9333
Head Office Fax: 03 9533 9388
Website:  http://www.nylexlimited.com.au


PRIMELIFE CORPORATION: Issues Update On Funding Requirements
------------------------------------------------------------
Primelife Corporation Ltd issued to the Australian Stock
Exchange an update to the announcement made on July 26, 2004,
regarding the company's funding requirements and review update,
Primelife's Board would like to announce an extension to the
existing loan facility with major shareholders, Albany Bay
Investments RV Pty Ltd. and Babcock & Brown Pty Ltd. to
facilitate a further draw down of $5 million.

The additional $5 million ($2.5 million from interests
associated with each shareholder) has been lent to Primelife
Corporation Ltd on arms'length-terms to assist with short term
capital requirements, pending the Board's final decision
regarding the company's funding requirements.

To view full copy of the announcement, click
http://bankrupt.com/misc/primelifecorporation080504.pdf

CONTACT:

Primelife Corp. Ltd.
210 Kings Way, SOUTH MELBOURNE,
VICTORIA, AUSTRALIA, 3205
Head Office Telephone (03) 8699 3300
Head Office Fax (03) 8699 3414
Website: http://www.primelife.com.au/


PRIMELIFE CORPORATION: Requests Trading Halt
--------------------------------------------
The Securities of Primelife Corp. Ltd. will be placed in pre-
open at the request of the company, pending the release of an
announcement by the company.  Unless the Australian Stock
Exchange decides otherwise, the securities will remain in pre-
open until the earlier of the commencement of normal trading
today, August 6, 2004 or when the announcement is released to
the market.


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


401 HOLDINGS: Winding Up Petition Set August 18
-----------------------------------------------
On 23 July 2004, 401 Holdings Limited issued an announcement in
relation to the winding up petition in respect of and the
summons for the appointment of provisional liquidators to the
Company filed by China Units Enterprises Limited (Petitioner).

Upon hearing the application of the Petitioner on 3 August 2004,
the High Court of Hong Kong Special Administration Region (High
Court) appointed Mr. Cosimo Borrelli and Mr. Fan Wai Kuen, both
of RSM Nelson Wheeler Corporate Advisory Services Limited, as
joint and several provisional liquidators of the Company
(Provisional Liquidators) to, inter alia, carry on and stabilize
the operations of the Company and its subsidiaries, including by
facilitating a restructuring of the Company.

The winding up petition filed by the Petitioner is scheduled on
18 August 2004. The Provisional Liquidators, on behalf of the
Company, will apply for an adjournment of the hearing to allow
more time to explore and if possible, facilitate a restructuring
of the Company. Further announcements in this regard will be
made as and when appropriate.

In a disclosure to the Hong Kong Stock Exchange, trading in the
shares of the Company was suspended at the request of the
Company with effect from 28 March 2003 and will remain suspended
until the Company can demonstrate to The Stock Exchange of Hong
Kong Limited (Stock Exchange) its compliance with the
requirements stipulated under Rule 13.24 of the Rules Governing
the Listing of Securities on the Stock Exchange.

As at the date hereof, the executive directors of the Company
are Mr. Wong Chong Kwong, Derek, Mr. Po Kam Hi, John, Mr. Lau
Cheuk Hung, Terence and Mr. Au-Yeung Yok Cho; the non-executive
director is Mr. Wu Chi Lok.

Cosimo Borrelli
Fan Wai Kuen
Joint and Several Provisional Liquidators
Hong Kong, 4 August 2004

CONTACT:

401 Holdings Limited
Shun Tak Centre, 200 Connaught Road
Central, Hong Kong
Tel: +852 2363 8301
Tel: +852 2363 8192


CREATIVE LION: Winding up Hearing Set September 1
-------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Creative Lion Limited by the High Court of Hong Kong was on the
26 July 2004 presented to the said Court by Cheung Wai Ling of
Room 2716, Shin Lun House, Fu Shin Estate, Tai Po, New
Territories, Hong Kong. The petition is scheduled before the
Court at 9:30 a.m. on September 1, 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.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
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 so to do.  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 the 31st day of
August 2004.


GLOBAL TREND: Proceeds to Third Stage of Delisting Procedures
-------------------------------------------------------------
The Stock Exchange of Hong Kong Limited announced that effective
from the date of this announcement, Global Trend Intelligent
Technologies Limited would be placed into the third stage of the
Delisting procedures in accordance with Practice Note 17 to the
Listing Rules.  Practice Note 17 formalizes the procedures to be
adopted in dealing with long suspended companies.

Dealing in the shares of the Company has been suspended since 9
June 2003. At the end of the second stage of the Delisting
Procedures, which in the case of the Company was 15 July, 2004,
the Company has not submitted a valid resumption proposal.  A
valid resumption proposal most importantly will need to
demonstrate the Company's compliance with the Listing Rules and
all applicable laws and regulations in Hong Kong and the
Company's place of incorporation.  In addition, the proposal, if
it were implemented, would enable the Company to demonstrate
that it complies with Rule 13.24 of the Listing Rules.  Rule
13.24 of the Listing Rules requires the Company to carry out,
directly or indirectly, a sufficient level of operations or have
tangible assets of sufficient value and/or intangible assets for
which a sufficient potential value can be demonstrated to the
Exchange to warrant the continued listing of the Company's
securities on the Exchange.

In view of the absence of any valid resumption proposal before
the end of the second stage of the Delisting Procedures, and the
Company's continued failure to demonstrate its compliance with
the requirements stipulated under Rule 13.24 of the Listing
Rules, the Company will now be proceeded to the third stage of
the Delisting Procedures. The Company will have a final six-
month period for the submission of a valid resumption proposal.
If the Company does not submit a valid resumption proposal by 3
February 2005, the Exchange intends to cancel the listing of the
Company.

The Exchange will make a further announcement in due course if
the delisting takes place.

This announcement is dated 4 August 2004.


GOLD-FACE HOLDINGS: Enters Third Stage of Delisting Procedures
--------------------------------------------------------------
The Stock Exchange of Hong Kong Limited disclosed that effective
from the date of this announcement, Gold-Face Holdings Limited
would be placed into the third stage of the delisting procedures
in accordance with Practice Note 17 to the Listing Rules.
Practice Note 17 formalizes the procedures to be adopted in
dealing with long suspended companies.

Dealing in the shares of the Company has been suspended since 19
May 2003. At the end of the second stage of the Delisting
Procedures, which in the case of the Company was 15 July 2004,
the Company has not submitted a valid resumption proposal.  A
valid resumption proposal most importantly will need to
demonstrate the Company's compliance with the Listing Rules and
all applicable laws and regulations in Hong Kong and the
Company's place of incorporation.

In addition, the proposal, if it were implemented, would enable
the Company to demonstrate that it complies with Rule 13.24 of
the Listing Rules.  Rule 13.24 of the Listing Rules requires the
Company to carry out, directly or indirectly, a sufficient level
of operations or have tangible assets of sufficient value and/or
intangible assets for which a sufficient potential value can be
demonstrated to the Exchange to warrant the continued listing of
the Company's securities on the Exchange.

In view of the absence of any valid resumption proposal before
the end of the second stage of the Delisting Procedures, and the
Company's continued failure to demonstrate its compliance with
the requirements stipulated under Rule 13.24 of the Listing
Rules, the Company will now be proceeded to the third stage of
the Delisting Procedures. The Company will have a final six-
month period for the submission of a valid resumption proposal.
If the Company does not submit a valid resumption proposal by 3
February 2005, the Exchange intends to cancel the listing of the
Company.

The Exchange will make a further announcement in due course if
the delisting takes place.

This announcement is dated 4 August 2004.

CONTACT:

Gold-Face Holdings Limited
30 Canton Road
Kowloon, Hong Kong
Tel: +852 2317 1228
Tel: +852 2375 1770


I-CHINA HOLDINGS: Parallel Trading Starts Monday
------------------------------------------------
The Hong Kong Stock Exchange announced that market participants
are requested to note the parallel trading in the ordinary
shares of I-China Holdings will commence at 9:30 a.m. on Monday,
09/08/2004 under the following particulars:

Stock Code  Stock Short Name     Board Lot        Certificate
                                                  Colour

240         I-CHINA H-NEW        10,000 shares      Blue
2929        I-CHINA H-OLD        2,000 shares       Green

Settlement of trading at each counter shall be in respect of the
shares traded at the respective counters.

I-China Holdings Limited has been granted a term loan facility
of HK$40,000,000 (the Facility) pursuant to a facility letter
from an independent bank dated 22 July 2004. The Company has
accepted the terms of the facility letter on 3rd August 2004.
The full sum of the Facility is to be repaid by six half-yearly
installments commencing eighteen months after the date of draw
down of the Facility.

CONTACT:

I-China Holdings Limited
73 Lei Muk Road
Kwai Chung, New Territories
Hong Kong
Tel: +852 2521 1238
Tel: +852 2523 9176


LEADING VANTAGE: Creditors Meeting Slated for August 26
-------------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Leading
Vantage Holdings Limited (In Creditors' Voluntary Liquidation)
will be held at Conference Room, 5th Floor, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong at 4:15 p.m.
on 26 August 2004 for the purposes of considering Sections 241,
242, 243, 244, 251(1)(a), 255A(2) and 283 of the Companies
Ordinance.

This Quamnet Gazette announcement is dated 30 July 2004.


PARMALAT SPA: Chinese Operations Halt Production
------------------------------------------------
The Chinese units of dairy giant Parmalat Spa have halted
operations while the collapsed Italian company makes a final
decision about its subsidiary, AFX Asia reports.

"Our mainland production base in Tianjin has stopped production
for two months, and we are conducting an overhaul now while
awaiting instructions from Italy," a Parmalat official told AFX-
Asia.

Parmalat's 65-percent owned joint venture with Parmalat
(Nanjing) Dairy Co. Ltd. is also reported to have ceased
production, with the Chinese firm taking custody of the venture
until a final decision regarding the venture is made by
Parmalat.

The Milan-based group filed for bankruptcy protection because of
a US$11 billion shortfall due to false accounting over a
possible period of 15 years.

CONTACT:

Parmalat Finanziaria S.p.A
Piazza Erculea 9
20122 Milan, Italy
Phone: +39-02-806-8801
Fax: +39-02-869-3863
Web site: http://www.parmalat.net


WIN SIGHT: Enters Winding Up Proceedings
----------------------------------------
Notice is hereby given that a Petition for the Winding up of Win
Sight International Limited by the High Court of Hong Kong was
on 12 July 2004 presented to the said Court by Lam Siu Yui of
Room 1707, Shek Yan House, Shek Lei Estate, Kwai Chung, New
Territories, Hong Kong.

The petition is scheduled before the Court at 9:30 a.m. on 25
August 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.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
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 so to do.  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 the 24th day of
August 2004.


ZHU KUAN: Creditors Lose Battle
-------------------------------
The creditors of Zhu Kuan Group, the bankrupt overseas
investment arm of the city of Zhuhai in Southern China, have
failed to win a court ruling to help recover HK$7.8 billion
(US$1 billion) of debt, the South China Morning Post reports.

The Zhuhai court refused to allow Hong Kong High Court-appointed
provisional liquidators of Zhu Kuan to search records related to
real estate seized by the city government during the past eight
months, according to court documents.

According to Matthew Miller and Mark L. Clifford, editors of
Business Week, Zhu Kuan's purpose was to borrow money abroad,
invest it in enterprises linked to the local government, and
then repay foreign lenders and bondholders as these enterprises
prospered.

The implicit government guarantee of the loans gave great
comfort to lenders. As Zhuhai's commercial arm, Zhu Kuan played
a key role in financing the roads, bridges, airport, stadiums,
and other facilities that helped the city grow at breakneck
speed. Along the way, the company borrowed more than US$750
million from big financial institutions.

For years, Zhu Kuan has largely failed to service its debt, and
bankers are locked in bitter talks with local government leaders
over restructuring the company and recovering at least some of
their money.

Zhu Kuan's creditors include Standard Chartered, Bank of
America, Bank of China, ABN Amro Holding, ANZ Banking Group,
Deutsche Bank, Kookmin Bank and Societe Generale.



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


BANK PERMATA: UOB Confirms Interest in Stake Sale
-------------------------------------------------
United Overseas Bank has confirmed Wednesday its plan to join
the tender for the Indonesian government's 51-percent stake in
Bank Permata, reveals The Jakarta Post.

"We are interested because Permata has been cleaned up and
restructured by the state," the UOB said in a statement.

UOB, Singapore's third largest bank, has been buying shares of
Southeast Asian Banks as it moves toward a goal to have 40
percent of its 2010 total income accounted for by overseas
revenue. Recently, it bought 23-percent stake in Bank Buana and
acquired 81 percent of Thailand's Bank of Asia early this year.

Citigroup, JPMorgan and Merrill Lynch were hired by UOB to tap
the market and raise US$500 million in subordinated bonds.

CONTACT:

PT Bank Permata Tbk.
Gedung Bank Bali
Jalan Jendral Sudirman Kav. 27
Jakarta 12920
Telephone: 021-52377899 (hunting)
Fax: 021-5237206/8


PERTAMINA: Snags 22 Gas Deals Worth US$300M
-------------------------------------------
PT Pertamina's domestic business partners in the industry, gas
and electricity sectors have granted the state oil firm 22 gas
sale/purchase contracts worth US$300 million a year, The Jakarta
Post says.

Pertamina has recently sealed eight contracts worth US$140
million per year while the remaining 14 are still in the
"process of finalization."

Under the contracts, Pertamina will supply gas from the West
Java and South Sumatra gas fields to meet demands of state gas
company PT PGN, state electricity firm PT PLN, Chandra Asri,
Krakatau Steel and other West Javan industries.

Pertamina's Upstream Director Bambang Nugroho is optimistic that
the new agreements will bring additional revenue to Pertamina's
upstream sector eventually improving the oil firm's profit and
performance.

CONTACT:

PT Pertamina Tbk
Jalan Merdeka
Timur No. 1 A
Jakarta 10110
Tel: (62)(21)3815111
Fax: 3846865/ 3843882
www.pertamina.com


PERTAMINA: To Shut One Cilacap Crude Distillation Unit
------------------------------------------------------
PT Pertamina plans to halt operations of one of its two crude
distillation units at Cilacap refinery, Jakarta Post reveals,
citing Pertamina deputy director Rachmat Derajat.

The said unit, which processes 50,000 barrels per day of crude
oil into fuel products, lubricant and asphalt, will be closed
down for 21 days starting September for a turnaround.

In order to avoid getting into a crude processing deal, the
state oil company has obtained fuel products from an unnamed
supplier to meet shortages during the turnaround.


PT INDOFARMA: Tempo Drops Plan to Buy Unit
------------------------------------------
Upon receipt of a valuation report from an independent
appraiser, drug firm PT Tempo Scan Pacific has opted on
Wednesday to shelve its proposed acquisition of PT Indofarma's
subsidiary, PT Indofarma Global Medika (IGM), reports The
Jakarta Post.

The Board of Directors of publicly listed Tempo agreed to cancel
its plan to purchase the health care distribution firm IGM after
reviewing the report made by the Center for Investment and
Business Advisory.

In order to improve its performance, ailing PT Indofarma intends
to place IGM on sale after its 2003 operating loss ballooned to
IDR130 billion (US$15.2 million) from IDR60 billion in 2002.

CONTACT:

PT Indofarma Tbk
Jl. Tambak No. 22
Jakarta 10320
Indonesia
Phone: (021) 851 7222
Fax .: (021) 851 7223


=========
J A P A N
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ALL NIPPON: Flies With ObjectStore Data Management
--------------------------------------------------
ObjectStore, a provider of products for real-time data
management and an operating company of Progress Software
Corporation (Nasdaq: PRGS), says ANA (All Nippon Airways), one
of the world's top-ten airlines and a provider of air transport-
related services, uses the ObjectStore database management
system to improve its customer service system operations.

ObjectStore offered these details:

Tokyo-based ANA services nearly 50 million passengers yearly,
and in an effort to provide exceptional customer service, has
established an integrated customer information database called
Smart DataBase (SDB). Prior to SDB, the complex table structures
included in ANA's disparate databases had been a barrier to
integrating customer information. With ObjectStore's advanced
data management solution, ANA has overcome these obstacles to
enable the SDB system to incorporate all the data needed to
support ANA's customer care requirements.

After a thorough testing and analysis of data management
products, ANA selected ObjectStore because of its ability to
increase programmer productivity and reduce development costs.
ObjectStore makes it possible for ANA to modify its SDB system
in real time, without needing to go offline. Such continuous
availability allows the SDB system, powered by ObjectStore, to
serve as a critical part of the infrastructure needed to provide
services that exceed the expectations of ANA customers.

"ANA's Smart DataBase system is an outstanding example of how
progressive companies are changing the way they manage complex,
real time data today," said Peter Sliwkowski, president of
ObjectStore. "Enterprises have struggled with the complexity of
coordinating customer data from disparate systems. ObjectStore
continues to set the industry standard when data doesn't fit
neatly into relational tables, providing complex data management
that delivers unprecedented performance, reliability and
scalability."

ObjectStore complements relational databases with its patented
Cache-Forward Architecture (CFA), which provides pure Java and
C++ data access for application clients, enabling fast, in-
memory access to cached data. In addition to high performance
client caching, ObjectStore provides transactional, distributed
and recoverable caching so customers like ANA can scale systems
to support new business processes, while preserving their
existing investments in databases with the same reliability.

CONTACT:

All Nippon Airways Co. Ltd.
5-10 Hanedakuko 3-Chome
Ohta-Ku 144-0041, Tokyo 100-6027
Japan
Tel: +81 3 5756 5665/+81 3 5756 5679
www.anaskyweb.com


ASAHI LIFE: Upgrades Ratings to 'CCC+', Outlook Stable
------------------------------------------------------
Standard & Poor's Rating Services on August 5 raised its
financial strength and long-term counterpart ratings on Asahi
Mutual Life Insurance Co. to 'CCC+' from 'CCC-', reflecting an
improvement in its financial profile, supported by the company's
drastic business and financial restructuring and the recovery in
stock prices.

The revised rating reflects an easing of pressure on business
continuity in line with moderation in the insurer's surrender
and lapse rate, which used to be much higher than the industry
average. The outlooks on the ratings are stable.

"Following Asahi Life's strategic shift to focus on profitable
"third sector" insurance for individuals, such as medical
insurance, the deterioration in the company's business franchise
appears to be ending," Standard & Poor's credit analyst Runa
Ichihari said.

"However, while Asahi Life aims to improve its balance sheet and
sustain its business franchise, concerns remain over the
feasibility of its new business model, profit generating
structure, capitalization, and extremely weak financial
flexibility," Ms. Ichihari added.

The company has withdrawn from group annuity insurance and
downsized its group life insurance business as a part of its
strategy shift. In fiscal 2003 (ended March 31, 2004), new
business and business in-force in individual insurance declined
by 55.5% and 10.9%, respectively, but increased 2% on the basis
of premiums written due to the growth in medical insurance. The
size of its marketing force also decreased by 18.3%, but sales
efficiency improved.

Asahi Life recorded JPY63.6 billion in ordinary profit in fiscal
2003 as a result of reductions of 19.6% in operating expenses
and 22.5% in domestic equity holdings in its general account
since fiscal 2002. The recovery in stock prices also contributed
to the insurer's ordinary profit. Although underwriting profit
decreased to JPY67 billion from JPY75.7 billion, the drop is
attributable to the impact of the downsizing of its group
insurance business. Asahi Life maintains relatively stable
profits from insurance for individuals. At the end of fiscal
2003, the company's capitalization had improved as a result of
building up catastrophe and price fluctuation reserves.

Despite positive results from its restructuring efforts, the
business environment for the life insurance industry remains
challenging, particularly in the market for individual
insurance. To maintain its business franchise in this highly
competitive area, a key issue for Asahi Life will be its ability
to enhance its product development capabilities and distribution
channels for "third sector" insurance.

Domestic equity holdings fell to 9.1% of Asahi Life's general
account, almost at the industry average. However, the company
still holds a large volume of risk assets relative to its weak
capital, leaving the company's financial profile highly
vulnerable to fluctuations in stock prices. As a mutual company,
its financial flexibility is also marginal.

CONTACT:

Asahi Mutual Life Insurance Company
7-3 Nishi-Shinjuku 1-Chome
Shinjuku-Ku 163-8611,
Tokyo 163-8611
Japan
Phone: +81 3 3342 3111
Website: www.asahi-life.co.jp/


DAIKYO INCORPORATED: Not Seeking IRCJ Aid
-----------------------------------------
Daikyo Incorporated has no plans to request aid from state-
backed Industrial Revitalization Corporation of Japan for its
rehabilitation, reports Japan Today, citing Kyodo News.

Daikyo President Jihei Yamakazi stressed that the troubled
developer will not revise its restructuring scheme nor is it
considering support from IRCJ. Instead, Daikyo will concentrate
in condominium construction--its main line of business.

CONTACT:

Daikyo Incorporated
Sendagaya No. 21 Daikyo Bldg.,
24-13, Sendagaya 4-chome,
Shibuya-ku
Tokyo, 151-8506,
Japan
Phone: +81-3-3475-1111
Fax: +81-3-3475-3803
Website: www.daikyo.co.jp


FUJITSU LIMITED: Ties Global Partnership with Cadence
-----------------------------------------------------
In a press release, Fujitsu Limited and Cadence Design Systems,
Japan announced a global partnership agreement under which they
will create advanced system-on-chip (SoC) design environments.
The design environments resulting from this agreement will
further address today's demand for new design methodologies for
the development of advanced SoCs.

Currently there is an urgent need for new design methodologies
for the development of advanced SoCs, particularly for the
latest SoC designs that incorporate process technologies of 90nm
(nanometer) and beyond. The semiconductor industry's rapid
product cycles are driven by constant technological advances and
are subject to volatile market fluctuations. This makes it
increasingly difficult to keep pace with the latest design
environment requirements and quickly deploy new design
methodologies to worldwide design facilities.

The Premier Design Partner (*1) agreement that Fujitsu and
Cadence have entered into is anticipated to strengthen Fujitsu's
design approach with shorter design lead times and improved
design quality. This partnership agreement is revolutionary as
an EDA (Electronic Design Automation)(*2)-related agreement, as
it provides design solutions that go beyond a simple sales
agreement for EDA tools.

Highlights of the agreement are as below:

(1) The agreement encompasses tens of thousands of Cadence
licenses, including numerous SoC Encounter(TM) licenses.

(2) The worldwide Fujitsu Group and all of its design centers
will have access to licenses covered by this agreement.

(3) In addition to its standard support, Cadence will provide
personnel support organizationally to the worldwide Fujitsu
Group and its design centers in order to fully leverage this
agreement.

(4) As strategic business partners, Fujitsu and Cadence will
jointly develop methodologies that merge design and process
technologies, and plan to expand their global business
collaboration to markets such as in the U.S. and China.

Under this agreement, Fujitsu will deploy to all of its design
centers the combination of a variety of licenses and a new
design methodology known as physical prototyping (also referred
to as silicon virtual prototyping)(*3) for SoC development for
0.13micron technology and beyond. Using the world's highest-
standard design environments will minimize design iterations,
which can be a major obstacle for meeting delivery deadlines,
and will significantly shorten for reducing die size and noise,
and lowering power consumption.

These advantages make it possible for Fujitsu to finalize and
fix SoC design schedules, which are of particular importance to
customers, and also contribute greatly to the finalization of
customers' tight product development schedules.

As a SoC design technology partner that goes beyond being a
conventional EDA supplier, Cadence will support Fujitsu's SoC
business by establishing an internal organization dedicated to
provide centralized support to Fujitsu's design centers
worldwide.

Shigeru Fujii, Senior Corporate Vice President and Group
President of Fujitsu Limited's LSI Business Group said, "For the
latest technology, while LSI functions continue to grow in
complexity and become larger in scale, and design and
development become increasingly difficult, there is a great need
for shortening development lead times. In order to overcome
these issues, Fujitsu is implementing a new IDM (Integrated
Device Manufacturer) business model in which we establish
strategic partnerships with customers and vendors. This
agreement with Cadence is a facet of this new IDM business
model. We will help our customers increase their product
competitiveness by updating our development environments to the
world's highest standards."

General Manager of Fujitsu Limited's Design Methodology
Development Division, LSI Group, Kazuyuki Kawauchi states,
"Under this agreement with Cadence, all of our design centers
and the Fujitsu Group worldwide will be equipped with abundant
EDA tools as well as new design methodologies to fully leverage
them. It is now possible to overcome and resolve the issue of
design iterations, the most challenging issue for developing
large-scale SoCs using 0.13 micron technology and beyond, thus
enabling us to dramatically raise the certainty of design
schedules. Now that this agreement is in place, I strongly
believe that the days when our design environments were limited
by the number of tools available will be a thing of the past."

"Cadence will support Fujitsu's SoC business with a complete
solution ranging from upper-stream to lower-stream designs,
implementation, verification and manufacturing", said Ryoichi
Kawashima, President of Cadence Design Systems, Japan. "This
innovative agreement is unique in its large-scale,
comprehensive, enterprise-level approach - the likes of which no
other EDA company has ever offered. We are committed to support
Fujitsu in all of its many design centers worldwide."

Glossary and Notes

1) Cadence's "Premier Design Partner" agreements:
The Premier Design Partner Agreement expands the customer
relationship beyond tools to include complete business solutions
to customers. It includes establishing business models that
directly contribute to customers' business success by helping
reduce their total cost of ownership, minimizing design risks
and optimizing the design chain.

2) EDA (Electronic Design Automation):
Technology that automates the design of various electronic
systems, and the semiconductors and printed circuit boards that
such systems are comprised of.

3) Physical prototyping:
A SoC design methodology that detects problems and implements
measures to address those issues, prior to circuitry layout.
This approach enables minimizing the need for design iterations,
which with conventional design methods could take more than
several months. This methodology also makes it possible to
reduce design processes, improve level of certainty of estimated
design lead times, and enables early determination of best
conditions in regard to power consumption and chip size.
Cadence's SoC Encounter (TM) facilitates physical prototyping.

SoC Encounter(TM) is a trademark of Cadence Design Systems, Inc.

All other product names and company names mentioned herein are
the trademarks or registered trademarks of their respective
firms.

About Cadence Design Systems, Japan

Cadence Design Systems (Japan) B.V. is a subsidiary of Cadence
Design Systems, Inc. which with approximately 4,800 employees
and 2003 revenues of approximately $1.1 billion is the largest
supplier of electronic design technologies and engineering
services. Cadence solutions are used to accelerate and manage
the design of semiconductors, computer systems, networking and
telecommunications equipments, consumer electronics, and a
variety of other electronics-based products. Cadence Design
Systems (Japan) B.V. is located in Shin-Yokohama and provides
electronics design automation (EDA) solutions to serve the
electronics market and its customers in Japan. More information
about the company, its products and services is available at
http://www.cadence.co.jp.

About Fujitsu Limited

Fujitsu is a leading provider of customer-focused IT and
communications solutions for the global marketplace. Pace-
setting technologies, highly reliable computing and
communications platforms, and a worldwide corps of systems and
services experts uniquely position Fujitsu to deliver
comprehensive solutions that open up infinite possibilities for
its customers' success. Headquartered in Tokyo, Fujitsu Limited
(TSE:6702) reported consolidated revenues of 4.7 trillion yen
(US$45 billion) for the fiscal year ended March 31, 2004.

Fujitsu Limited posted its Q1 financial results last week
showing a reduced operating loss of JPY4.3 billion from JPY37.8
billion in the same period last year.

CONTACT:

Fujitsu Limited
Public & Investor Relations
Shiodome City Center
1-5-2 Higashi-Shimbashi Minato-ku,
Tokyo 105-7123
Japan
Phone: +81 (0) 3-6252-2176
Fax: +81 (0) 3-6252-2783
www.fujitsu.com


K.K. ARUSHIA: Enters Bankruptcy
-------------------------------
K.K. Arushia has entered bankruptcy, according to Teikoku
Databank America. The firm, which engaged in resort club
membership selling, has total liabilities of US$193.33 million.
The company is based in Setagaya-Ku, Tokyo 155-0031.


MITSUBISHI FUSO: Confirms 14 Other Clutch Defects
-------------------------------------------------
Scandal-hit truck maker Mitsubishi Fuso admitted Wednesday the
presence of clutch system defects in 14 of its large vehicles,
reports Japan Today.

The recent announcement corrected the firm's earlier claim that
its large vehicles developed no defects between September last
year and May this year.

On July 15, government inspectors raided a Mitsubishi Fuso
factory on suspicion that it has continued to falsify reports on
vehicle defects despite vowing to clean up its act.

The commercial vehicle division of Mitsubishi Motors was spun
off in January 2003 to create Mitsubishi Fuso.

CONTACT:

Mitsubishi Fuso Truck of America, Inc.
2015 Center Square Rd.
Bridgeport, NJ 08085 (Map)
Phone: 856-467-4500
Fax: 856-467-4695
Website: www.mitfuso.com


TOHORESUTORANKAIHATSU K.K.: Faces Insolvency
--------------------------------------------
According to Teikoku Databank America, Tohoresutorankaihatsu
K.K. has entered bankruptcy. The Japanese restaurant, which is
based in Minato-Ku, Tokyo 106-0032, Japan has total liabilities
of US$32.17 million.


UFJ HOLDINGS: Court Reaffirms Merger Halt Order
-----------------------------------------------
A Japanese court on Wednesday junked UFJ Holding's appeal over a
mandate to bar merger talks with Mitsubishi Tokyo Financial
Group Inc., The Japan Times reports.

Presiding judge Hiroaki Ohashi of the Tokyo District Court
rejected UFJ's appeal to lift an injunction it issued last week
to halt merger negotiations between UFJ and MTFG, which would
have created the world's largest bank. The ruling was handed
down in favor of Sumitomo Trust and Banking Co., which claimed
that UFJ has violated an agreement made in May that would allow
Sumitomo to acquire UFJ's Trust banking operations.

Wednesday's verdict also bans UFJ from "exchanging information--
on its trust banking unit or otherwise--to any other party
besides Sumitomo Trust, effectively barring it from pressing
ahead with merger talks on its other banking units."

UFJ spokesman Akihiro Furutani called the ruling "unjust." The
company has already lodged an appeal with the Tokyo High Court.

CONTACT:

UFJ Holdings, Inc.
5-6, Fushimimachi 3-chome,
Chuo-ku, Osaka-shi,
Osaka 541-0044,
Japan
Website: www.ufj.co.jp


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


KOOKMIN BANK: Picks GE Unit to Sell Offices
-------------------------------------------
Kookmin Bank has picked General Electric Co.'s financial unit as
a preferred bidder to sell about 80 branch offices, in a move to
cut risks stemming from its property portfolio and to raise cash
holdings, according to Reuters. The offices to be put up for
sale will be sold via asset-backed securities (ABS).

"We've signed a preliminary deal with GE Capital Real Estate and
aim to complete the deal by the end of October after a due
diligence and more negotiations," an unnamed Kookmin official
said, but declined to give the value.

CONTACT:

Kookmin Bank
9-1 Namdaemoonro 2-ga
Chung-gu, Seoul 100-092
Korea (South)
Tel: +82 2 317 2114
Tel: +82 2 776 5637


SK NETWORKS: Selling 14.3% Stake in Seoul Securities
----------------------------------------------------
SK Networks Co. is in talks to sell its entire 14.3 percent
stake in SK Securities Co. to Seoul Securities Co., according to
Dow Jones Newswires.

SK Networks will also discuss the sale of stakes in SK
Securities held by other SK Group affiliates to Seoul
Securities. SK Group affiliates own about a 51-percent stake in
SK Securities.

The move is part of SK Group's restructuring plan announced last
year after prosecutors uncovered accounting irregularities worth
KRW1.55 trillion.

SK Networks, the trading and oil distribution arm of SK Group,
has been under debt workout since July of last year.

CONTACT:

SK Networks Co. Head Office
199-15, Euljiro-2Ga,
Jung-Gu, Seoul,
Korea 100-192,
Tel: 82-2-2221-2114
Fax: 82-2-754-9414
E-mail: webmaster@sknetworks.co.kr


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


AKTIF LIFESTYLE: AGM Set August 26
----------------------------------
Notice is hereby given that the tenth Annual General Meeting
(AGM) of Aktif Lifestyle Corporation Berhad will be held at
Level 2, Grand Seasons Hotel, No. 72 Jalan Pahang, 53000 Kuala
Lumpur on Thursday, 26 August 2004 at 2:30 p.m. for the purpose
of transacting the following businesses:

AGENDA

As Ordinary Business:

1) To receive and adopt the Audited Financial Statements for the
financial year ended 29 February 2004 together with the Reports
of the Directors and Auditors hereon. (Resolution 1)

2) To approve the payment of Directors' fees for the year ended
29 February 2004. (Resolution 2)

3) To re-elect Puan Sharifah Noor Binti Syed Abdul Rahman Al-
Attas who retires pursuant to Article 82 of the Company's
Articles of Association. (Resolution 3)

4) To re-elect Dato' Yap Ping Kon who retires pursuant to
Article 74 of the Company's Articles of Association. (Resolution
4)

5) To re-appoint Messrs Ernst & Young as Auditors of the Company
and to authorise the Directors to fix their remuneration.
(Resolution 5)

As Special Business: To consider and, if thought fit, to pass
the following Ordinary Resolution:

6) Authority to Directors to Allot and Issue Shares

"THAT pursuant to Section 132D of the Companies Act, 1965, the
Directors be and are hereby authorized to issue shares in the
Company at any time until the conclusion of the next Annual
General Meeting and upon such terms and conditions and for such
purposes as the Directors may, in their absolute discretion,
deem fit provided that the aggregate number of shares to be
issued does not exceed 10 per centum of the issued share capital
of the Company for the time being, subject always to the
approval of all the relevant regulatory bodies having been
obtained for such allotment and issue." (Resolution 6)

7) To transact any other ordinary business of the Company for
which due notice shall have been given.

BY ORDER OF THE BOARD
Chua Chee Tiong
Company Secretary
Kuala Lumpur
Date: 4 August 2004

NOTES ON APPOINTMENT OF PROXY

1) A member entitled to attend and vote at the Meeting is
entitled to appoint a proxy to attend and vote in his stead.  A
proxy need not be a member of the Company.  The instrument
appointing a proxy must be in writing under the hand of the
appointer or his attorney duly authorized in writing or if such
appointer is a corporation, under its common seal or the hand of
its attorney.

2) All forms of proxy must be deposited at the Company's
Registered Office at 9th Floor, Wisma Equity, 150 Jalan Ampang,
50450 Kuala Lumpur, not less than 48 hours before the time
appointed for holding the Meeting or any adjournment thereof.

EXPLANATORY NOTES ON SPECIAL BUSINESS

1) Resolution 6: Authority to Directors to Allot and Issue
Shares

The Proposed Resolution 6, if passed, would enable the Directors
to issue up to a maximum of 10% of the issued share capital of
the Company as at the date of this Annual General Meeting for
such purposes as the Directors consider would be in the best
interest of the Company.  This authority, unless revoked or
varied by the Company at a General Meeting, will expire at the
next Annual General Meeting.


ANSON PERDANA: Financial Condition Unchanged
--------------------------------------------
Anson Perdana Berhad, pursuant to the Practice Note No. 4/2001
(PN4) of the Bursa Malaysia Securities Berhad, announced that
there has been no change in the financial condition of the
Company since its last announcement on July 2, 2004.

CONTACT:

Anson Perdana Berhad
12th Floor, West Block
Wisma Selangor Dredging
142-C Jalan Ampang
50450 Kuala Lumpur
Tel: 603-2626899
Fax: 603-2632088


BERJAYA SPORTS: Issues Shares Buy Back Notice
---------------------------------------------
Berjaya Sports Toto Berhad disclosed to Bursa Malaysia
Securities Berhad the details of its shares buy back on August
4, 2004.

Date of buy back: 04/08/2004

Description of shares purchased:  ordinary shares

Total number of shares purchased (units): 921,700

Minimum price paid for each share purchased (RM): 3.580

Maximum price paid for each share purchased (RM): 3.660

Total consideration paid (RM): 3,338,514.39

Number of shares purchased retained in treasury (units): 921,700

Number of shares purchased which are proposed to be cancelled
(units): 0

Cumulative net outstanding treasury shares as at to-date
(units): 48,521,700

Adjusted issued capital after cancellation (no. of shares)
(units):

Remarks:

The number of shares with voting rights in issue after the above
share buyback is 989,563,076.

CONTACT:

Berjaya Sports Toto Berhad
179 Jalan Bukit Bintang
Kuala Lumpur 55100
Malaysia
Tel: +60 3 2935 8888
Tel: +60 3 2935 8043


DATAPREP HOLDINGS: SC OKs Proposed Private Shares Placement
-----------------------------------------------------------
Further to the announcement dated 30 June 2004, the Board of
Directors of Dataprep Holdings Berhad announced that the
Securities Commission (SC) has approved the Proposed Placement
pursuant to the Policies and Guidelines on the Issue/Offer of
Securities issued by the SC (SC Guidelines) and the Guidelines
of the Regulation of Acquisition of Assets, Mergers and
Takeovers issued by the Foreign Investment Committee.

The SC's approvals for the Proposed Placement are subject to,
inter alia, the following conditions:

(1) At least 30% of the Placement Shares is to be allocated to
Bumiputera investor(s);

(2) The list of placee(s) is to be submitted to the SC upon
completion of the placement exercise; and

(3) The SC Guidelines vis-a-vis the implementation of the
Proposed Placement are to be complied with.

With the receipt of the SC's approvals, the Proposed Placement
remains subject to approval being obtained from Bursa Malaysia
Securities Berhad (formerly known as Malaysia Securities
Exchange Berhad) for the listing of and quotation for the new
Placement Shares.

The Board shall deliberate on the conditions imposed by the SC
for the Proposed Placement. Accordingly, an appropriate
announcement would be made in the event the Board should resolve
to submit any appeal to the SC on any of the conditions imposed
by the SC.

This announcement is dated 3 August 2004.

CONTACT:

Dataprep Holdings Berhad
Lot 69-73, Jalan Setiabakti
Bandar Damansara
50490 Kuala Lumpur, WP
Malaysia
Tel: 603-2539625
Fax: 603-2539620


DENKO INDUSTRIAL: Eon Finance Files Suit Against Firm
-----------------------------------------------------
Denko Industrial Corporation Berhad announced that on 2 August
2004, the Company had been served a writ of summons and
statement of claim, both dated 13 July 2004, filed by Eon
Finance Berhad in Mahkamah Sesyen Di Seremban Dalam Negeri
Sembilan Darul Khusus, summon No. 52-1088-2004 for a sum of
RM57,668.78 and continuing interest, allegedly due to default in
payment under a hire purchase agreement of motor vehicle.

The expected losses are as follows:

The plaintiff claimed the following:

1) The sum of RM57,668.78 calculated up to 6 July 2004;
2) Interest rate of 8% per annum based on daily rest from 7 July
2004 on the amount of RM56,700.00 until full settlement;
3) Costs; Such other relief or remedy as the Honourable Court
deemed fit.

Denko does not expect any material financial and operational
impact arising from the above suit and the Company is expected
to negotiate with the plaintiff for an amicable settlement.

This announcement is dated 4 August 2004.

CONTACT:

Denko Industrial Corporation Berhad
Suite 16.01, 16th Floor
Menara Tan & Tan
207 Jalan Tun Razak
50400 Kuala Lumpur, WP
Malaysia
Tel: 603-2637833
Fax: 603-2637866


GULA PERAK: Issues Proposal to Renew Shareholder's Mandate
----------------------------------------------------------
Gula Perak Berhad (GPB) will seek shareholders' approval to
renew the existing shareholders' mandate for recurrent related
party transactions of revenue or trading nature at the
forthcoming Annual General Meeting (AGM) of the Company.

In a disclosure to the Bursa Malaysia Securities Berhad, the
existing shareholders' mandate was previously obtained at the
AGM held on 24 September 2003. In accordance to the Listing
Requirements of Bursa Malaysia Securities Berhad, the existing
shareholders' mandate shall lapse at the conclusion of the
forthcoming AGM, unless authority for its renewal is obtained.

A circular to the shareholders is respect of the aforesaid
proposal will be issued in due course.

CONTACT:

Gula Perak Berhad
218 Jalan Ipoh
Kuala Lumpur, 51200
Malaysia
Tel: +60 3 4044 2828
Tel: +60 3 4044 6688


INTAN UTILITIES: Vista Meranti to Acquire Remaining Shares
----------------------------------------------------------
The Board of Directors of Intan Utilities Berhad has received a
Notice of Conditional Offer from AmMerchant Bank Berhad, on
behalf of Vista Meranti Sdn Bhd (VM), to acquire all the
remaining ordinary shares of RM1.00 each in Intan not already
owned by VM and parties acting in concert with it at a cash
offer price of RM2.25 per share (Offer).

The Notice, which will be posted to the shareholders of Intan
within 7 days of its receipt, is enclosed herewith.

The Board of Directors of Intan has appointed Malaysian
International Merchant Bankers Berhad (MIMB), as independent
adviser, to advise the minority shareholders of Intan on the
Offer. However, the appointment of MIMB is subject to the
approval of the Securities Commission, in accordance with Part
IV Section 15(8) of the Malaysian Code on Takeovers & Mergers
1998.

This announcement is dated 4 August 2004.

CONTACT:

Intan Utilities Berhad
Registered Office
11th Floor,
Menara Berjaya KL PLaza
179, Jalan Bukit Bintang
55100 Kuala Lumpur
Tel: 03-2935 8888
Fax: 03-2935 8043


METACORP BERHAD: Appoints Musraffa Mohd as Committee Member
-----------------------------------------------------------
Metacorp Berhad disclosed to the Bursa Malaysia Securities
Berhad that Dato' Mustaffa bin Mohd has been appointed as a
member of the Remuneration Committee of the Company on 29 July
2004.

In view thereof, the composition of Remuneration Committee of
Metacorp Berhad is as follows:

Name Designation Directorship

1) Dato' Yu Wen Chieh Chairman; Senior Independent
Non-Executive Director

2) Dato' Dr. Nik Hussain bin; Member Non-Independent Executive
Director Abdul Rahman

3) Puan Adibah Khairiah binti; Member
Independent Non-Executive Director Ismail @ Daud

4) Dato' Mustaffa bin Mohd; Member Independent Non-Executive
Director

CONTACT:

Metacorp Berhad
Level 11, Wisma Inai
241 Jalan Tun Razak
50400 Kuala Lumpur, WP
Malaysia
Tel: 603-2488900/2488200
Fax: 603-2485571


NAM FATT: Issues Additional 2,037,000 Ordinary Shares
-----------------------------------------------------
Nam Fatt Corporation Berhad's additional 2,037,000 new ordinary
shares of RM1.00 each issued pursuant to the Conversion of
RM2,037,000 irredeemable convertible unsecured loan stocks A
into 2,037,000 new ordinary shares will be granted listing and
quotation with effect from 9 a.m., Monday, 9 August 2004.

CONTACT:

Nam Fatt Corporation Berhad
40B Persiaran Sultan Ibrahim
41300 Klang, Selangor Darul Ehsan 41300
Malaysia
Tel: +60 3342 0766
Tel: +60 3342 7830


OSK HOLDINGS: Releases Notice of Shares Buy Back
------------------------------------------------
OSK Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad the details of its shares buy back on August 4, 2004.

Date of buy back: 04/08/2004

Description of shares purchased:  Ordinary Shares of RM1.00 each

Total number of shares purchased (units): 341,000

Minimum price paid for each share purchased (RM): 1.530

Maximum price paid for each share purchased (RM): 1.550

Total consideration paid (RM): 526,020.90

Number of shares purchased retained in treasury (units): 341,000

Number of shares purchased which are proposed to be cancelled
(units):

Cumulative net outstanding treasury shares as at to-date
(units): 39,501,300

Adjusted issued capital after cancellation (no. of shares)
(units):

Remarks:

CONTACT:

Osk Holdings Berhad
Jalan Ampang
50450 Kuala Lumpur, 50450
Malaysia
Tel: +60 3 2162 4388
Tel: +60 3 2161 8254


PAN PACIFIC: Releases Restructuring Update
------------------------------------------
The Board of Directors of Pan Pacific Asia Bhd (PPAB) announced
that the Company, through Alliance Merchant Bank Berhad, had on
27 July 2004, announced that the Proposed Restructuring Scheme,
which was approved by the Securities Commission on 21 May 2003
has been aborted. The Company had also, through Avenue
Securities Sdn Bhd, announced a new Proposed Restructuring
Scheme on even date.

This Bursa Malaysia announcement is dated 4 August 2004.

CONTACT:

Pan Pacific Asia Bhd
5 Jalan SS 21/39 Damansara Uptown
Petaling Jaya, Selangor Darul Ehsan 47400
Malaysia
Tel: +60 3 7727 8168
Tel: +60 3 7727 1622


PWE INDUSTRIES: Bursa Securities Awaits SC Decision
---------------------------------------------------
PWE Industries Berhad refer to the requisite announcement dated
16 July 2003 and the subsequent announcements dated 10 October
2003, 20 January 2004, 6 April 2004, 28 June 2004 and 23 July
2004 in relation to the Proposed Corporate Restructuring of the
Company.

On behalf of the Board of Directors of PWE Industries Berhad, PM
Securities Sdn Bhd wishes to announce that Bursa Malaysia
Securities Berhad (Bursa Securities) had, vide its letter dated
4 August 2004, stated that given the fact that the Company had
submitted its application to the Securities Commission (SC) to
appeal against the SC's decision not to approve the Proposed
Corporate Restructuring of PWE, Bursa Securities will await the
outcome of the Company's appeal to the SC.

Bursa Securities' decision is without prejudice to Bursa
Securities' right to proceed to commence proceedings for
suspension and/ or de-listing of the securities of PWE from the
official list of Bursa Securities in the event PWE fails to
obtain any of the authorities' approvals necessary for the
implementation of its regularization plans and no further
extension of time is granted to the Company.

In the event the approvals are obtained, the Company must
proceed to implement its regularization plans expeditiously
within the timeframe stipulated by the relevant authorities.

This announcement is dated 4 August 2004.

Copy to: Securities Commission
Attn: Encik Kris Azman Abdullah

CONTACT:

Pwe Industries Berhad
No 1 Jalan Padungan
Kuching, Sarawak 93100
Malaysia
Tel: +60 82 236 920
Tel: +60 82 236 922


UNITED CHEMICAL: SC OKs Revised Restructuring Scheme
----------------------------------------------------
Further to the announcements dated 12 March 2003, 22 October
2003, 5 March 2004 and 1 July 2004, Alliance Merchant Bank
Berhad (Alliance), on behalf of the Board of Directors of United
Chemical Industries Berhad (UCI), announced that the Securities
Commission (SC), on behalf of the Foreign Investment Committee
(FIC) had, vide its letter dated 2 August 2004 approved the
revisions made to the Proposed Restructuring of UCI (Revision).

The Revision was earlier approved by the Securities Commission
(SC) in its letter dated 1 April 2004. Subsequent to the
Approval, Alliance/UCI is required to notify the SC, on behalf
of FIC, upon the completion of the Proposed Restructuring of
UCI.

All other conditions as set out in the FIC's letter dated 10
March 2003 in respect of its earlier approval on the Proposed
Restructuring shall remain unchanged.

This announcement is dated 3 August 2004.

CONTACT:

United Chemical Industries Berhad
10th Floor, Wisma MCA
Jalan Ampang
50450 Kuala Lumpur, WP
Malasia
Tel: 603-2619055
Fax: 603-2610502


WEMBLEY INDUSTRIES: Issues Practice Note 4/2001 Update
------------------------------------------------------
On 23 February 2001, Wembley Industries Holdings Berhad
announced to Bursa Malaysia Securities Berhad (the Exchange)
that the Company is an affected listed issuer pursuant to
Practice Note No. 4/2001 (PN4) as the Auditors of the Company
had expressed a disclaimer opinion of the going concern of the
Company and its subsidiaries. As an affected listed issuer, the
Company has its obligations under PN4.

The Requisite Announcement as required under PN4 was made to the
Exchange on 31 July 2002.

The applications for its regularization plan were submitted to
the Securities Commission (SC) and Foreign Investment Committee
(FIC) on 29 October 2002.

On 7 January 2003, the FIC approved the Company's regularization
plan. Subsequently, on 7 April 2003 the FIC revised its approval
to include the possible participation of Daewoo Corporation, the
former turnkey contractor of Plaza Rakyat Project in the
Proposed Debt Restructuring. As a result, the approval of FIC
now includes the approval for the additional RM112 million ICULS
and 11.2 million warrants to be issued to Daewoo Corporation (in
the event Daewoo participates in the Proposed Debt
Restructuring). The condition that the FIC would review the
equity structure of the WIHB shares 3 year after the completion
of the proposals remains the same. The revised approval
supercedes the approval dated 7 January 2003.

On 27 January 2003, the SC approved the regularization plan
subject to the conditions as set out in the SC's approval letter
dated the same. The details of the SC's conditions are set out
in the Company's announcement dated 5 February 2003.

On 13 January 2004, Alliance Merchant Bank Berhad (Alliance)
announced on behalf of the Company certain revisions to the
Company's regularization plan. The application to the SC for the
said revisions will be made within two (2) months from 13
January 2004.

On 16 January 2004, the SC further approved an extension of time
of one (1) year to 27 January 2005 for the Company to complete
the implementation of its regularization plan following an
application made by Alliance.

On 12 March 2004, Alliance announced on behalf of the Company
further revisions to the Company's regularization plan. The
application to the SC for the said revisions will be made by
within one (1) month from 12 March 2004. On 12 April 2004,
Alliance announced on behalf of the Company that the Company
intends to submit the application to the SC within one (1) month
from 12 April 2004, after incorporating its latest audited
results for the financial year ended 31 December 2003. On 13 May
2004, the Company further announced that the terms and
conditions of the Debt Restructuring Agreement (DRA) have been
agreed upon and signed by all the financial institutions and
creditors participating in the Proposed Debt Restructuring
except for one creditor. The Company is currently making
strenuous efforts to resolve an outstanding issue with the said
creditor prior to the signing of the DRA. The Company expects
the said issue to be resolved soon. As such, the Company's
application to the SC in respect of the proposed revision to the
Company's regularization plan will be submitted after the
signing of the DRA by the said creditor.

The regularization plan is also pending the approvals of the
shareholders of the Company and other relevant authorities.
1.5 The Company has received a notice dated 2 January 2003 from
the Exchange noting that the Company has failed to obtain all
regulatory approvals necessary for the implementation of its
regularization plan by 31 December 2002 pursuant to paragraph
5.0 of PN4.

Given the above, the Exchange has suspended the trading of the
securities of the Company pursuant to paragraphs 8.14 and 16.02
of the Listing Requirements with effect from 9.00 a.m., Friday,
10 January 2003 until further notice.

On 8 July 2004, the Exchange issued a ninth reminder pursuant to
PN4 to the Company to remind the Company to implement its
regularization plan within the timeframe or extended timeframe
prescribed by the Securities Commission failing which the
Exchange will commence de-listing procedures against the
Company.

INVESTIGATIVE AUDIT

On 26 March 2003, the Company announced that it had on 22 March
2003 appointed Messrs Horwath, Kuala Lumpur Office as the
independent audit firm to carry out an investigative audit on
the previous losses incurred by the Company. The said
appointment is in compliance with one of the conditions imposed
by the SC in approving the Company's regularization plan. The
Investigative Audit is required to be completed within 6 months
from the date of appointment.

On 22 December 2003, Alliance announced that the Company had
sought for a further extension of time from the SC until 22 June
2004 for Messrs Horwath to complete the investigative audit of
WIHB. The SC had vide its letter dated 7 January 2004 approved
the extension of time until 22 March 2004 to complete the
investigative audit. The said approval granted by the SC is
subject to the condition that Messrs Horwath is required to
furnish to the SC a monthly report in relation to the
development of the investigative audit on WIHB.

On 22 March 2004, Alliance announced that an application to the
SC was made for a further extension of time until 22 September
2004 for Messrs Horwath to complete the investigative audit of
WIHB. The SC had vide its letter dated 2 June 2004 approved the
extension of time until 22 September 2004 to complete the
investigative audit. The said extension will be the final
extension of time for WIHB to complete its investigative audit.

OTHER MATTERS IN RESPECT OF PRACTICE NOTE NO. 10/2001 (PN10)

On 7 September 2001, the Company announced to the Exchange that
the Company is deemed affected listed issuers pursuant to
paragraph 2.1(c) of PN10. Under paragraph 2.1(c) of PN10, a
listed issuer, who has insignificant business or operations, is
deemed to have inadequate level of operations. Insignificant
business or operations means business or operations which
generate revenue on a consolidated basis that represents 5 % or
less of the issued and paid up share capital of the listed
issuer.

As an affected listed issuer under PN10, the Company must comply
with the obligations set out in paragraph 6 of PN10. The
Exchange has informed the Company that since the Company is also
an affected listed issuer under PN4, the requirements and
obligations of PN4 would prevail over those of PN10. It is
expected that the Company's regularization plan would address
both its financial condition (PN4) and the level of operations
(PN10) to warrant a continuing listing on the Official List.

This announcement is dated 3 August 2004.

CONTACT:

Wembley Industries Holdings Berhad
No 1 Jalan Pandungan
Kuching, Sarawak 93100
Malaysia
Tel: +60 82 236920
Tel: +60 82 236922


WOO HING: Financial Condition Unchanged
---------------------------------------
Woo Hing Brothers (Malaya) Berhad announced that there is no
change to the status of plan to regularize the financial
position of the Company as indicated in the announcement on July
2004.

Yours faithfully
HENG JI KENG
Special Administrator

This announcement is dated 2 August 2004

CONTACT:

Woo Hing Brothers (Malaya) Berhad
179 Jalan Bukit Bintang
Kuala Lumpur, 55100
Malaysia
Tel: +60 3 2144 1233
Tel: +60 3 2142 2228


YCS CORPORATION: Releases Default Status Update
-----------------------------------------------
Further to the announcement on July 5, 2004, YCS Corporation
Berhad announced that the default in payment in respect of the
Company's redeemable convertible secured loan stock B (RCSLS-B)
and irredeemable convertible unsecured loan stock A (ICULS-A)
has not been remedied as at this date. The Company is currently
taking steps to work out a settlement with the lenders.

Further progress will be announced monthly.

CONTACT:

Ycs Corporation Berhad
Taman Perindustrian UEP Subang Jaya
Subang Jaya, Selangor Darul Ehsan 47600
Malaysia
Tel: +60 3 80242922
Tel: +60 3 80242911


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


BACNOTAN CONSOLIDATED: Updates Sale of Shares in Union Cement
-------------------------------------------------------------
Bacnotan Consolidated Industries Inc. issued to the Philippine
Stock Exchange an update in relation to the Sale of Shares in
Union Cement Holdings Corporation.

Please be informed that on August 5, 2004, Bacnotan executed a
Share Purchase Agreement for the sale to Cemco Holdings, Inc. of
206,330,700 shares of stock of Union Cement Holdings Corp.
(UCHC) owned by Bacnotan, for the total purchase price of
$89,383,808.00 subject to compliance with conditions precedent
and delivery of documents specified in the said Agreement on
Closing Date which is set on August 12, 2004.

The execution of the Agreement is in accordance with the
approval of the Board of Directors given at the meeting held on
July 5, 2004, as earlier disclosed.

For more information click
http://bankrupt.com/misc/BACNOTANCONSOLIDATED080504.pdf

CONTACT:

Bacnotan Consolidated Industries nd
Phinma Plaza-Level 12
39 Plaza Drive, Rockwell Center
Makati City 1200
Telephone Number:  870-0100
Fax Number:  870-0456
Email Address: rapandrada@phinma.com.ph


HOME GUARANTY: Fast-tracks Sale of PHP20Bln in Acquired Assets
--------------------------------------------------------------
State-owned Home Guaranty Corp. (HCG) will hire a financial
adviser that will help speed up the sale of PHP20 billion
acquired assets by next year, according to BusinessWorld.

"We are fast-tracking the disposition of acquired assets through
a special purpose vehicle, joint ventures, public auctions, and
securitization... We want the advisor to tell us and help
execute," HGC President Gonzalo Benjamin A. Bongolan told
BusinessWorld.

Mr. Bongolan said that with the help of the financial advisers,
the bids will be evaluated by October and the properties can be
sold or entered into a joint venture to unlock their potential.

The Asset Participation Certificates (APCs) issued in the 1990s
covers 95 percent of the acquired assets.  The APCs were issued
to raise funds for various government projects.

"HGC suffered and has been rendered vulnerable and capital
impaired because it was made to guarantee APCs to fund
government flagship housing and urban renewal projects in the
1990s, without the requisite financial and administrative
capabilities and support. The default rate of these projects was
98 percent," Mr. Bongolan said.

Having guaranteed the said projects at that time was "downright
wrong" for HGC, citing high-risk APCs worth PHP15 billion.

"In addition to the heavy burden of paying guaranty calls,
remaining entanglements and encumbrances hinder the corporation
from immediately exiting from these projects, resulting in
forgone revenues and continued maintenance and preservation
expenses. Moreover, new obligations arise from the mess of prior
entanglements, tying the hands of the HGC when it should be
moving on," Mr. Bongolan said.

HGC's asset disposition and recovery of guaranty exposure has
been slow, rendering it unable to generate sufficient liquidity
for guaranty operations and eventually, the settlement of new
indebtedness.  With an external financial adviser and manager
taking over, the said problems will ultimately be addressed and
fast-track disposition plan will be overseen.


HOUSE OF INVESTMENTS: Issues Update on Capital Restructuring
------------------------------------------------------------
House of Investments Inc. (HI) in a letter dated July 29, 2004,
provided the Philippine Stock Exchange additional information in
relation to its capital restructuring.

The Company, in the same letter, informed the Exchange that:

"The required documentation to effect the decrease in par value
of HI common shares from PHP2.00 to PHP1.50 and the
corresponding decrease in authorized capital stocks (sic) from
PHP3.5 Billion to PHP2.875 Billion will be filed with the SEC as
soon as the same are signed by the HI Board of Directors. The
timetable for filing is on August 2004.

Implementation of the increase in capital from PHP2.875 Billion
to PHP2.950 Billion will be held in abeyance."

Furthermore, the Company in a letter dated August 4, 2004, which
the Exchange received on August 5, 2004, made the following
clarification in relation to their July 29, 2004 letter.

"This is in reply to your additional queries regarding the
capital restructuring of House of Investments, Inc.

(1) Increase in the underlying common shares of issued preferred
shares

There will be a total increase of 149,661,373 shares (from
448,984,120 to 598,645,493 shares) due to the change in the
conversion ratio of preferred shares from 5:1 to 3.75:1 caused
by the reduction of common shares par value from PHP2.00 to
PHP1.50.

(2) Detailed procedures for updating stock certificates due to
change of par value from PHP2.00 to PHP1.50 - the company is
still coordinating with our stock and transfer agent regarding
the matter.

The company will inform the Exchange as soon as it has been
finalized."

For more information, click
http://bankrupt.com/misc/HOUSEOFINVESTMENTS080504.pdf

CONTACT:

House of Investments Inc.
3/F, Grepalife Building
219 Sen. Gil J. Puyat Ave., Makati City
Telephone Numbers:  815-9636 to 38
Fax Number: 816-1127
Email Address: investment@hoi.com.ph
Website: http://www.hoi.com.ph


MANILA ELECTRIC: Releases Copy of Court of Appeals' Decision
------------------------------------------------------------
Manila Electric Co. (Meralco) furnished the Philippine Stock
Exchange a copy of the Court of Appeals' decision on the case
between Genaro Lualhati et al versus Manila Electric Co.

For more information, click
http://bankrupt.com/misc/MANILAELECTRIC080504.pdf

CONTACT:

MANILA ELECTRIC CO.
Lopez Building
Ortigas Avenue, Pasig City
Telephone Numbers: 16220 (TL); 633-4553 (Corp. Sec.)
Fax Number: 631-5572
Email Address: corcom@meralco.com.ph
Website: http://www.meralco.com.ph


MAYNILAD WATER: MWSS To Draw 25% of US$120Mln Performance Bond
--------------------------------------------------------------
Metropolitan Waterworks and Sewerage System (MWSS) wants to draw
US$30 million from the performance bond that guaranteed its
collection of water concession fees from Maynilad Water Services
Inc., reports BusinessWorld.

According to Finance Secretary Juanita D. Amatong, MWSS
requested to draw 25 percent of the US$120 million performance
bond of Maynilad to finance its capital expenditures.

But Ms. Amatong also said the Department of Finance was still
studying MWSS' request. "We don't want MWSS to draw it [in full]
and just park it somewhere. [There should be a] rationale for
the drawing of the bond," Ms. Amatong told reporters Wednesday.

MWSS is only allowed to draw US$50 million from the bond under a
compromise agreement between Maynilad signed last March.  But
MWSS was to assume control over Maynilad's concession.  The draw
will pave the way for the government to take over Maynilad from
its owners, the Lopez business group.

In a recent Supreme Court decision, MWSS was allowed to get the
US$120 million from Maynilad, ruling that this issue was
separate from Maynilad's corporate recovery petition pending at
a trial court.

The performance bond was issued to ensure Maynilad's payment of
the PHP8 billion concession fees to MWSS.  The required
concession fee payment for Maynilad is an average of PHP2
billion annually, part of which pay for MWSS debts.

The issuance of a performance bond was required under the 1997
concession agreement between Maynilad and MWSS.

Thirteen local and foreign banks and financial institutions
guaranteed the payment of the US$120-million bond. These include
Citibank N.A., the Manila Offshore Branch of Credit Lyonnais,
the Singapore branch of Credit Industrial et Commercial, Fortis
Bank, Chinatrust Philippines Commercial Bank Corp., and Rizal
Commercial Banking Corp.


PHILIPPINE LONG: Lists Additional 3,710 Common Shares
-----------------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone
Company (PLDT) to list additional 1,289,745 common shares, with
a par value of P5.00 per share, to cover the Executive Stock
Option Plan (ESOP) of the Company, at an exercise price of
P814.00 per share.

In this connection, please be advised that a total of 3,710
common shares have been availed of and fully paid by the
optionees under the Company's ESOP.

In view thereof, the listing of the 3,710 common shares is set
today, Friday, August 6, 2004. This brings the number of common
shares listed under the ESOP to a total of 142,334 common
shares.

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

CONTACT:

Philippine Long Distance Telephone Co.
Ramon Cojuangco Building
Makati Avenue, Makati City
Telephone Numbers:  814-3552; 888-0188
Fax Number:  813-2292
Website: http://www.pldt.com.ph


UNITED PARAGON: Needs US$20Mln to Revive Mine Ops
-------------------------------------------------
United Paragon Mining Corp. plans to secure US$17 million to
US$20 million to finance the reopening of its Longos mine, its
principal mining operation in Paracale, Camarines Norte, reports
BusinessWorld.

Alfredo C. Ramos, president and chairman, told BusinessWorld the
restructuring had already been approved by the board. "It is
hard to pin down the figure but we plan to raise between $7
million and $8 million in equity or even lesser at $5 million to
$6 million. The less equity, the better."

Mr. Ramos said United Paragon decided to reopen the Longos mine
given improving metal prices in the world market.  With the
reopening plans, the firm is restructuring its capital to raise
enough equity to repair its mines.

An improved capital deficit, current ratio, debt ratio, and
debt-to-equity ratio will be achieved through restructuring.
This will be done by decreasing the capital stock by 50 percent
to reduce the company's debt, and increasing the capital stock
by converting some PHP1.5 billion in liabilities to affiliated
and associated companies into equity.

The capital restructuring would also wipe out interest cost
because it will no longer be booked, thus making a good balance
sheet that will attract investors.

Prices of gold have increased continuously and because of that,
offers to evaluate other mining properties have been pouring in,
mostly from foreigners.  This bullish sentiment on gold prices
is seen to increase investors' interest on gold mining companies
and exploration projects.

Prices of gold continued to increase during the year from
$347.20/oz at end-2002 to $416.25/oz in 2003. Gold Fields
Mineral Services had said that gold prices have a strong bias to
further rise up to $450/oz should the conditions remain right
for attracting further investors' interest.

Carlos E. Aspillera, mine consultant at United Paragon Mining,
said the bullish sentiment will improve the company's chances of
raising funding required for the rehabilitation and further
development of the Longos mine. This is on top of higher gold
prices, which improve the project's viability and future
profitability, the BusinessWorld report stated.

United Paragon posted a PHP365.7 million net loss in 2003, lower
than the PHP577.4 million in 2002, but doubled the PHP207.3
million loss in 2001.

In the first quarter of this year, United Paragon posted a
PHP51.56 million net loss, up 4.67 percent compared to the same
period last year's PHP49.26 million.


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


HARTFORD HOLDINGS: Clarifies Profit Warning Announcement
--------------------------------------------------------
Further to its announcement pertaining to profit warning
released on 3 August 2004, the Board of Directors of Hartford
Holdings Limited wishes to clarify that the Company is expected
to make a loss, due to competitive business environment
particularly in Singapore and Hong Kong, the Group revenue was
impacted by the decrease in student enrolments. The Group
incurred higher operating cost and exceptional expenses, and
also expects to write off some bad debts and make higher
provisions for doubtful debts for the financial year ended 30
June 2004.

Submitted by Vincent Wee Chye Huat, Chief Executive Officer on
August 4, 2004 to the Singapore Stock Exchange.


KIN LIN: Court Issues Winding Up Order
--------------------------------------
Notice is hereby given that on the 18th day of June 2004, an
Order of the High Court for the Winding Up of Kin Lin Builders
Pte Ltd was made and that Mr Tam Chee Chong and Mr Wee Aik Guan
of Messrs Deloitte & Touch‚ are appointed as joint and several
Liquidators of the Company.

Address of Liquidators: Messrs Deloitte & Touch‚
6 Shenton Way
#29-00 DBS Building Tower 2
Singapore 068809.

Messrs Gurbani & Co
Solicitors for the Substituted Petitioners.

This Singapore Government Gazette announcement is dated July 30,
2004.


PENTON INTERNATIONAL: Posts Scheme of Arrangement Details
---------------------------------------------------------
The Board of Directors of Penton International Limited are
pleased to make the following further announcement in respect of
the Scheme of Arrangement announcement made on August 2, 2004. :

Subject to the relevant approvals from the Shareholders, Stock
Exchange and approvals from the Securities Industries Council,
the Company will carry out a Debt Restructuring Plan comprising
the following:

(i) a capital reduction exercise by reducing the par value of
each existing SGD0.12 share from SGD0.12 to SGD0.005 each( the
"New Par Value").

(ii) The transfer of Atech Shares to the Earl Payton Trust who
is a secured creditor.

(iii) The issue of 480 million Shares of New Par Value of
SGD0.005 to Regional Capital Pte Ltd who is a secured creditor.

(iv) The issue of Shares of New Par Value of SGD0.005 to
Unsecured Creditors based on SGD0.12 cents a share.

(v) The issue of Shares of New Par Value of SGD0.005 to
Preferred Unsecured Creditors based on SGD0.04 cents a share.

All New Shares will rank similar to the Existing Listed Shares.

Regional Capital will be the ultimate beneficiary of about
75.9%(actual percentage will depend on the actual unsecured and
preferred unsecured creditors who will be issued shares based on
their claims to the Scheme Administrator) of the issued shares
of Company Immediately after the issue of issuance of shares to
Creditors under the Scheme of Arrangement approved by the High
Court of the Republic Of Singapore on 29 July 2004. Details are
enumerated in the following table for easy reference:

                        After issuance of Scheme shares to
Creditors
                                 Number of sharesPercentage
                                              (%)
Regional Capital Pte Ltd                  480,000,000
                                              75.9%
Unsecured Creditors                         22,318,69
                                              23.5%
Preferred Unsecured Creditors               45,571,87
                                               57.0%
Existing Shareholders                       84,904,030
                                               13.1%

Total                                        632,794,597
                                               100.0%

Following the Scheme, all of the Company's existing liabilities
of about S$7.0 Million will be converted to equity.

The Company is currently in discussion with the Singapore Stock
Exchange and the Securities Industry Council and would be making
further announcements when the acquisitions planned are more
confirmed and affirmative.

Submitted by AKM Ismail, Executive Director on August 4, 2004 to
the Singapore Stock Exchange.


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


EASTERN WIRE: Releases Changes in Major Shareholders
----------------------------------------------------
As per information from the closed shareholder registration book
as of July 15, 2004, Eastern Wire PCL would like to inform the
Stock Exchange of Thailand (SET) for the change of the Company's
major shareholders from Egga Holding Co.,Ltd. and Mr. Pirom
Priyawat, previously holding shares of 28.05 percent and 57.01
percent respectively to:

(1) Mr. Pirom Priyawat holding 59.75 percent
(2) Mr. Kumron Sitaptim holding 10.15 percent
(3) Ms. Prattana Chaiwat holding 3.40 percent
(4) Mr. Supon  Polpira holding 3.22 percent
(5) Mr. Ditthapajon Sindanjan holding 2.68 percent
(6) Mr. Sorrapon Suvanit holding 2.51 percent
(7) Mr. Jeerapat Tangtongjit holding 2.51 percent
(8) Mr. Chavin Janthanayingyong holding 1.97 percent
(9) Miss.Supapit Dajchavanitsiri holding 1.61 percent

With the above changing has no effect or intervention to any
management control, policies, or operational management over the
Company.

Please be informed accordingly,
Yours sincerely,
(Pirom Priyawat)
Managing Director

CONTACT:

EASTERN WIRE PCL
RASA TOWER, ROOM 1201-1203,
555 PHAHOLYOTHIN ROAD,
CHATU CHAK Bangkok
Telephone: 0-2937-0058-66
Fax: 0-2937-0067


RAYONG WIRE: Completes Debt Restructuring
-----------------------------------------
Eastern Wire PCL would like to inform further the Stock Exchange
of Thailand of the progress of the debt restructuring of Rayong
Wire Industries Co., Ltd (RWI), the Company's affiliate.

On July 23, 2004, RWI has made payment of THB28,000,000 (Twenty
eight million Baht only) to Sukhumvit Asset Management Co., Ltd.
(SAM) to trade in the debt between them.

In turn the debt of RWI to SAM has consequently been released
with detail as attached, reflecting RWI's profit from the debt
restructuring of THB96,585,024.88 ( Ninety six million five
hundred and eighty five thousand and twenty four Baht and eighty
eight Sa Tang).

In addition, RWI has so far completed its debt restructuring
with its creditor at 83.17 percent of the total debts.

Please be informed accordingly,
Yours sincerely,
(Pirom Priyawat)
Managing Director


THAI PETROCHEMICAL: Releases Financial Restructuring Plan
---------------------------------------------------------
Thai Petrochemical Industry PCL posted in its company website a
copy of its Financial Restructuring Plan, August 2004.

Pro-Forma Financial Statements-Post Debt Restructuring

Executive Summary

(1) Reduction of existing Debt US$ 2,640m to US$ 500 million,
the Reduced Debt of US$ 2,140 million (US$2,640 minus US$500)
plus Accrued Interest US$752m (for year 1998-2000) totaling US$
2,892 million are converted into equity at THB 20 per share i.e.
5,899 million shares (75 percent stake) to replace the existing
Creditors' equity which was obtained unfairly at THB 5.52 per
share, in exchange for Accrued interest during year 1998 to
2000. Write off of accrued interest (on Tier 2) of around US$233
million.

(2) Interest Payment at 3.50 percent p.a. i.e. MLR minus one
percent (THB loan) and LIBOR plus one percent (FC loan)

(3) Repayment schedule 4 years (US$125m per year), as per
projections repayment (with cash sweep) turns out to be 2 years

(4) Refinery operation are taken at 184,000 bpd i.e. Potential
of more throughput of 31,000 bpd is available

(5) Compulsory to buy-back the new shares (5,899m) by major
shareholders and Company in 4 years at Issue price (THB 20) plus
Interest at MLR

(6) IFC and Other Creditors can have option to convert debt into
Zero Coupon Convertible Bond maturing in 4 years with 6 percent
interest (p.a.) and option to convert into Equity share at THB
50 per share

(7) Post Debt restructuring the Company becomes Investment grade
with average (4years) ICR 52.2 and DSCR 3.6 and Equity value
becomes THB 22 per share by DCF method 1

CONTACT:

THAI PETROCHEMICAL INDUSTRY PCL
TPI TOWER, FLOOR 8, 26/56
NEW JUN ROAD, THUNGMAHAMEK, SATHON Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Website: www.tpigroup.co.th




* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                              Total
                                        Shareholders   Total
                                        Equity         Assets
  Company                      Ticker    ($MM)          ($MM)
  ------                       ------    ------------   -------

  CHINA & HONG KONG
  -----------------

Guangdong Sunrise-B            200030    (-177.22)     45.09
Guangdong Sunrise-A            000030    (-177.22)     45.09
Shenzhen China Bicycles-B
Co., Ltd.                      200017    (-203.9)      52.16
Shenzhen China Bicycles-A
Co., Ltd.                      000017    (-203.9)      52.16
Shenzhen Great Ocean           200057    (-10.87)      11.27
Shenzhen Petrochemical
Industry Group                 200013    (-290.79)     25.62
Shenzhen Petrochemical
Industry Group                 000013    (-290.79)     25.62


INDONESIA
---------
Barito Pacific Timber Tbk Pt    BRPT      (-50.67)     393.92
PT Smart Tbk                    SMAR      (-37.38)     398.89


  JAPAN
  -----

Fujitsu Comp Ltd                6719       (-46.88)    316.07
Kanebo Limited                  3102     (-3409.58)   4163.73
Prime Systems                   4830      (-100.79)     130.2

  MALAYSIA
  --------

CSM Corporation Bhd             CSM        (-8.40)      41.55
Faber Group Bhd                 FAB        (-7.16)     504.98
Kemayan Corp Bhd                KOP      (-353.12)      84.89
Panglobal Bhd                   PGL       (-41.07)     187.79
Sri Hartamas Bhd                SHB      (-138.37)      24.48
YCS Corporation Bhd             YCS         28.34      160.27

  PHILIPPINES
  -----------

Pilipino Telephone Co.          PLTL     (-400.56)     115.91


  SINGAPORE
  ---------

Pacific Century Regional
Developments Ltd                 PAC      (-176.29)    1050.46


  THAILAND
  --------

Asia Hotel PCL                  ASIA       (-26.62)     96.21
Asia Hotel PCL                  ASIA/F     (-26.62)     96.21
Bangkok Rubber PCL              BRC        (-41.29)     80.14
Bangkok Rubber PCL              BRC/F      (-41.29)     80.14
Central Paper Industry PCL      CPICO      (-37.02)     40.41
Central Paper Industry PCL      CPICO/F    (-37.02)     40.41
Datamat PCL                     DTM           2.27      17.21
Datamat PCL                     DTM           2.27      17.21
Jutha Maritime                  JUTHA      (-0.78)      29.03
Jutha Maritime                  JUTHA/F    (-0.78)      29.03
National Fertilizer PCL         NFC        (-91.34)    293.84
National Fertilizer PCL         NFC/F      (-91.34)    293.84
Siam Agro-Industry Pineapple
And Others PCL                  SAICO      (-14.84)      13.32
Siam Agro-Industry Pineapple
And Others PCL                  SAIC0/F    (-14.84)      13.32
Thai Wah Public
Company Limited-F               TWC        (-43.88)     168.15
Thai Wah Public
Company Limited-F               TWC/F      (-43.88)     168.15
Tuntex (Thailand) PCL           TUNTEX     (-50.94)     398.25
Tuntex (Thailand) PCL           TUNTEX/F   (-50.94)     398.25







                            *********


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
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.  Information
contained herein is obtained from sources believed to be
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delivered via e-mail. Additional e-mail subscriptions for
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subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***