/raid1/www/Hosts/bankrupt/TCRAP_Public/040824.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, August 24, 2004, Vol. 7, No. 167
Headlines
A U S T R A L I A
AMP LIMITED: Unveils Increase in Rating from S&P
CHEMEQ LIMITED: Issues Clarification on Board Restructuring
FLETCHER JONES: To Close Mt. Gambier and Warrnambol Factories
JAMES HARDIE: Chairwoman Stops Short of Blaming Trowbridge
MITSUBISHI AUSTRALIA: Workers To Sign Redundancy Agreement
NATIONAL AUSTRALIA: To Form Financial Services in Australia
SOUTHCORP LIMITED: Posts $108.9Mln Net Profit for FY 2004
C H I N A & H O N G K O N G
401 HOLDINGS: Winding Up Petition Hearing Adjourned
BEST REACH: Court Hears Winding Up Petition
CHARMY INTERNATIONAL: Winding Up Hearing Slated September 15
FT HOLDINGS: Proposes Name and Financial Year End Date Changes
FT HOLDINGS: Exceptional Turnover Movement Noted
GOLDEN WEAL: Faces Bankruptcy Proceedings
SHINE GOLD: Enters Winding Up Proceedings
SYSCAN TECHNOLOGY: Names New Executive Directors
TREND ACCESS: Winding Up Hearing Set September 8
WONDERLAND LIMITED: Court Sets Bankruptcy Petition Hearing
* Hong Kong July Bankruptcy Filings Down
I N D O N E S I A
BANK DAGANG: Depositors To Be Reimbursed By Government
BANK NEGARA: H1 Net Profit Jumps To IDR1.54tln
GARUDA INDONESIA: Doubling Certain Ticket Prices Next Month
PERTAMINA: To Boost Fuel Oil Stock Ahead of Election, Holidays
J A P A N
DAIEI INCORPORATED: Firm Attempting Private Rehabilitation
MITSUBISHI MOTORS: To Release Defect Cover-up Probe Results
MITSUBISHI MOTORS: To Revive Suppliers' Club
SOJITZ HOLDINGS: Forms Alliance with Israeli Company SoluBest
UFJ HOLDINGS: Establishes Integration Committee with MTFG
K O R E A
ASIANA AIRLINES: Asks For Tax Cuts Along With Korean Air
JINRO LIMITED: Management, Union Reach Tentative Deal
LG INVESTMENT: Woori Submits Final Bid
SSANGYONG MOTOR: Talks Between Creditors, SAIC Still On
M A L A Y S I A
ANTAH HOLDINGS: Bursa Securities Imposes Fine of RM25,000
CONSOLIDATED FARMS: Issues Practice Note No. 1/2001 Update
DATAPREP HOLDINGS: Releases Unaudited Quarterly Report
FORESWOOD GROUP: Discloses Regularization Plan Update
GOLDEN FRONTIER: Releases Shares Buy Back Notice
KRAMAT TIN: Releases Unaudited Quarterly Report
KSU HOLDINGS: Bursa Securities Issues Public Reprimand
LEADER STEEL: Enters Voluntary Liquidation
LIEN HOE: Bursa Securities Commission Imposes RM3,000 Fine
METACORP BERHAD: Annual General Meeting Set September 14
MTD CAPITAL: Issues Notice of Shares Buy Back
PAN MALAYSIA: Releases Rights Issue Notice
RHB CAPITAL: Appoints New Director
TALAM CORPORATION: Purchases 85,100 Ordinary Shares on Buy Back
TRU-TECH HOLDINGS: Unveils 1H04 Financial Results
WILLOWGLEN MSC: Widens 2Q04 Net Loss to MYR964,000
WOO HING: Unveils 1H04 Quarterly Report
P H I L I P P I N E S
BASIC CONSOLIDATED: Appoints Omelita Taingco as New Director
COLLEGE ASSURANCE: Investor Set To Infuse $227-M Fresh Capital
MAYNILAD WATER: Consulting Creditors For New Rehab Plan
METRO ALLIANCE: Widens 1H04 Net Loss to Php75M
NATIONAL POWER: Long-term Debts Swell to Php461Bln in 2003
NATIONAL POWER: ERC To Decide on Rate Hike Bid by September 5
NEGROS NAVIGATION: Clarifies Manila Times Report
PHILIPPINE LONG: Issues Additional Listing of Shares
PHILIPPINE REALTY: Issues Rehab Plan Update
UNIVERSAL RIGHTFIELD: Clarifies "Investors Go After DMCI" Report
S I N G A P O R E
CHAI SOON: Preferential Dividend Notice Issued
I.R.E. CORPORATION: Goh Chee Whui's Interest Changes
I.R.E. CORPORATION: Posts Change in Directors' Interest
I.R.E. CORPORATION: Yenom Holdings Interest Ceases
I.R.E. CORPORATION: Notes Change in Nipsea Private Interest
KIM HUAT: Court Issues Preferential Dividend Notice
KWAI HAI: Court Issues Notice of Intended Dividend
LOCHTA SERVICES: Court Issues Preferential Dividend Notice
TOLL MILL: Court Issues Dividend Notice
T H A I L A N D
ABICO HOLDINGS: NR Sign Posted On Securities
ASIA HOTEL: SEC Concludes Financials Need No Amendment
BANGKOK RUBBER: SET Posts NR Sign on Securities
BANGKOK STEEL: Informs SET on Schedule of FS Submission
CENTRAL PAPER: SET Posts NR Sign On Securities
EASTERN WIRE: Releases Report Form to SET on Shares Sale Result
EASTERN WIRE: Securities Granted By The SET
INTER FAR: Submits Explanation and Financial Status Analysis
INTER FAR: Releases Explanation of Work Performance for 1H
MDX: SEC Concludes FS No Necessary Amendments
NAKORNTHAI STRIP: Unveils Resignation of Director
NFC FERTILIZER: NR Sign Posted on Securities
PREMIER ENTERPRISE: SEC Concludes FS Amendment Not Necessary
PREMIER ENTERPRISE: Decreases Registered and Paid Up Capital
* BOND PRICING: For the Week 23 August to 27 August 2004
- - - - - - - -
=================
A U S T R A L I A
=================
AMP LIMITED: Unveils Increase in Rating from S&P
------------------------------------------------
AMP Limited in a press release on Friday said it welcomed the
increase in its credit rating from Standard & Poor's to A- for
AMP Group Holdings Ltd. The Group was previously rated at BBB+.
At the same time, the insurer financial strength and
counterparty credit rating for AMP Life Ltd. was lifted to AA-
from A+. The outlook on all ratings is stable.
AMP Chief Executive Officer Andrew Mohl said that paying down
debt and reducing balance sheet gearing had been a key focus for
AMP post demerger.
Three major debt reduction initiatives in the first half lowered
Group debt levels by almost two-thirds - from A$4.3 billion at
31 December 2003 to A$1.55 billion at 30 June 2004. The gearing
ratio (defined as debt to debt plus equity) fell from 55 per
cent to 29 per cent over the first six months of the year, six
months ahead of schedule.
"Regaining an A rating is an important milestone for AMP," Mr.
Mohl said. "The work we have done to pay down debt and improve
the underlying performance of the business post demerger has
clearly benefited our financial strength. We are pleased this
has now been formally recognized with an upgrade to an A rating.
"As we said at the release of our interim results on 18 August,
we will continue to manage the business to ensure that we retain
the financial strength consistent with an A-rated business.
"We also said at our results that AMP is likely to return
capital to shareholders in one form or another over the next
year. We will continue to review the best way to achieve this in
the interests of all shareholders."
CONTACT:
AMP LIMITED
Level 24, AMP Building,
33 Alfred Street,
SYDNEY, NSW, AUSTRALIA, 2000
Head Office Telephone: (02) 9257 5000
Head Office Fax: (02) 9257 7178
Website: http://www.amplimited.com/
CHEMEQ LIMITED: Issues Clarification on Board Restructuring
-----------------------------------------------------------
In a press release on Monday, Chemeq Limited said it wishes to
clarify the Board structures and the succession arrangements of
Dr Graham Melrose, the Chairman and Chief Executive Officer of
Chemeq. These matters have been addressed by the Board and in
view of the current capital raisings, the directors consider it
appropriate to make a formal statement to the market.
Dr Melrose founded Chemeq and is the driving force behind the
development of its unique and highly effective polymeric
antimicrobial for the veterinary market. Dr Melrose has guided
the company through the complex scientific and production
processes which have seen it evolve into the world leader in the
industry.
With the recent successful commissioning of the new production
facility in Rockingham, Western Australia, the company is
quickly moving into the commercialization phase of its
development. It has already established a marketing team and has
in place conditional sales orders and memoranda of understanding
for further commercial trials of the product.
In essence, the company is moving from a Research and
Development company to an end-to-end drug-pharmaceutical
company.
In view of the above, Dr Melrose has determined that is the
right time for him to move into a nonexecutive role.
Accordingly, it is his intention to vacate the role of Chief
Executive Officer once an outstanding successor has been
identified. Dr Graham Melrose remains vital to the ongoing
success of Chemeq and will become the Non-Executive Chairman.
The Board intends to begin within the near future, a search for
the new Chief Executive Officer. Additionally, in view of the
progress of the company and the magnitude of its potential
markets, the Company is conducting a search for two new
independent directors of high stature.
Dr Melrose said: "I remain one hundred percent committed to
Chemeq. It continues to be my life's work."
CONTACT:
Chemeq Limited
Suite 8 Petroleum House,
3 Brodie Hall Drive,
Technology Park,
BENTLEY, AUSTRALIA, 6102
Head Office Telephone 08 9362 0100
Head Office Fax 08 9355 0199
Website: http://www.chemeq.com.au/
FLETCHER JONES: To Close Mt. Gambier and Warrnambol Factories
-------------------------------------------------------------
Clothing retailer Fletcher Jones will soon be closing its
Australian manufacturing division, just-style.com reports.
Citing losses due to cheap imports, the company said it has
decided to close down its Mount Gambier and Warrnambool
factories, a move that will lead to the loss of 60 jobs.
According to the Fletcher's financial controller Richard Swann,
manufacturing work is likely to move towards Indonesia and
China, the Geelong Advertiser said.
Mr. Swann said: "It's become more and more difficult to maintain
Australian-made products over the last 30 years.
"With the removal of quotas and tariffs, imported garments have
become cheaper and cheaper.
"At the same time, with superannuation and payroll tax and
everything else, the cost of doing business in Australia has
increased."
The Warrnambool plant is scheduled to close next month, while
the Mt. Gambier factory will follow suit in October.
The decision is being criticized by the Textile, Clothing and
Footwear Union, saying Fletcher is not working hard enough to
prevent the closure.
CONTACT:
Fletcher Jones Australia
Mt. Gambier (Brand Direct)
7 Commercial Street East, 529
Telephone: (08) 8725 0133
Warrnambool (Factory Outlet)
Pleasant Hill, Flaxman Street, 3280
Telephone: (03) 5562 1090
Website: http://www.fletcherjones.com.au/
JAMES HARDIE: Chairwoman Stops Short of Blaming Trowbridge
----------------------------------------------------------
James Hardie Industries is not to be blamed for the lack of
funds on the foundation set up to compensate asbestos victims,
the Advertiser reports, citing the company's chairwoman,
Meredith Hellicar.
Actuarial firm Trowbridge Consulting prepared in 2001 a report
estimating the future asbestos claims liabilities of two of
James Hardie's former asbestos manufacturing subsidiaries, Amaca
and Amaba.
According to Ms. Hellicar, had the computation for the claims
been correct, James Hardie's actions would have been very
different.
The estimate was $322.6 million. The money is expected to run
out in just three years' time with the shortfall at more than
$1.4 billion.
"We established a foundation that we thought was funded and,
quite patently, it wasn't funded adequately," she told the Nine
Network's Business Sunday yesterday. "This would never have come
about if we had the correct number."
A decision is to be made by the New South Wales Special
Commission Inquiry whether James Hardie knew at the time its
liabilities would be far higher.
Following Trowbridge's estimate of current and future claims in
2001, James Hardie set up a Medical Research and Compensation
Foundation with $293 million as a buffer against potential
claims.
A move by James Hardie to transfer its headquarters to Australia
from the Netherlands is allegedly made to stop Australian
victims seeking more compensation from the company.
On the inquiry made by the NSW Government two weeks ago, it was
told that James Hardie would therefore be agreeing to
participate in a scheme to compensate 4374 future mesothelioma
(asbestos-related) victims, 2603 future non-mesothelioma victims
and 926 future workers' compensation claimants.
For corporate and media enquiries only, please contact:
James Hardie Industries
Website: http://www.jameshardie.com.au/
Greg Baxter
Executive Vice President
Level 3, 22 Pitt Street
Sydney NSW 2000
Telephone: (02) 8274 5305
Fax: (02) 8274 5218
Mobile: 0419 461 368
Steve Ashe
Vice President Investor Relations
Telephone: (02) 8274 5246
Fax: (02) 8274 5218
Mobile: 0408 164 011
Julie Sheather
Vice President Public Affairs
Telephone: (02) 8274 5206
Fax: (02) 8274 5218
Mobile: 0409 514 643
All other enquires to CustomerLink Service Centre on 13 1103.
MITSUBISHI AUSTRALIA: Workers To Sign Redundancy Agreement
----------------------------------------------------------
A $180 million redundancy bill to fire more than 1000 workers
will be faced by Mitsubishi Australia, Bloomberg reports, citing
an unnamed union official.
Workers were scheduled to ink the redundancy agreement on
Monday, which covers 670 workers at the company's Lonsdale
engine plant and 350 staff at the company's Tonsley Park car
manufacturing plant.
Employees taking voluntary redundancy would get 4 1/2 weeks' pay
for each year worked plus an extra week's loyalty pay for every
year worked - up to a maximum of 100 weeks. Average service at
Lonsdale was 18 years, with some workers having spent more than
30 years at the plant.
Mitsubishi, Japan's only unprofitable carmaker is hoping to make
a turnaround by the end of this year on the release of the Colt
compact wagon in October. The carmaker will also introduce a
new vehicle model in 2005 and five models in 2006, including
successors to its Diamante luxury sedans and Delica Spacegear
wagons.
Mitsubishi, displaced as Japan's fourth-largest carmaker by
Mazda this year, is counting on cost cuts, new models and fresh
capital to revive its business.
"Mitsubishi is at a stage where it has to prove whether it can
survive as a carmaker," said Hitoshi Yamamoto, president of
Commerz International Capital Management in Tokyo.
Mitsubishi is trying to regain customers' trust after recalls of
more than 800,000 Mitsubishi-brand vehicles in Japan this year
for a range of defects that have been linked to scores of
accidents including two fatalities.
Ten former executives have been arrested on charges of either
covering up the defects or falsifying safety reports.
The JPY496 billion-fund raised by Mitsubishi earlier this year,
which mostly came from shareholders and investors will be used
to pay back debt and develop new models.
CONTACT:
Mitsubishi Motors Australia, Ltd. (MMAL)
Head Office: 1284 South Road
Clovelly Park South Australia, 5042 AUSTRALIA
Phone: 08 8275 7443
Fax: 08 8275 7309
Email: careers@mmal.com.au
Website: www.mitsubishi-motors.com.au
NATIONAL AUSTRALIA: To Form Financial Services in Australia
-----------------------------------------------------------
National Australia Bank Ltd. will amalgamate its core domestic
operations into one Financial Services Australia division, the
Sydney Morning Herald reports, citing the Australian Financial
Review. Newly elected NAB executive Ahmed Fahour will head the
said division.
The fusion of the retail banking, wealth management and
corporate and institutional lending divisions is intended to
deliver greater synergies.
"We are trying to make sure that we are taking the right
corrective actions so we can build the base for sustainable
growth," the AFR paper quoted Mr. Fahour as saying.
"We have got to get the balance right between acting fairly
swiftly without jeopardizing the organization.
"The silos are holding us back," Mr. Fahour said.
The Financial Services Australia division will have a separate
chief financial officer, chief risk officer and head of strategy
and business development.
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/
SOUTHCORP LIMITED: Posts $108.9Mln Net Profit for FY 2004
---------------------------------------------------------
Southcorp Ltd. announced in a press release on Thursday that it
has released its results for the year ended 30 June 2004,
reporting a net profit after tax and before significant items of
$108.9 million, up 170 percent from 2003.
The Company's earnings before interest, tax, amortization and
significant items of $176.3 million, up nearly 50 percent from
2003, came in line with the top end of market expectations.
Southcorp Managing Director and Chief Executive Officer, John
Ballard, said: "Through the success of the Veraison disciplines
we introduced this year, Southcorp has delivered a substantially
better profit performance, despite an adverse profit impact of
approximately $19 million from the strong Australian dollar.
"2004 was a year of bedding down internal issues. Within the
first six months of the year we stabilized trading and returned
to profitability and have delivered a significant improvement
for the full year.
"We reduced costs by $40 million per annum and developed a new
blueprint for our production and distribution operations which,
through savings in fixed and freight costs, will deliver
incremental earnings of $27 million per annum by 2008.
"The introduction of stronger financial discipline enabled us to
reduce debt by $169.1 million and lift our return on capital
employed to 9.3% up from 5.9% in 2003. While there is still more
progress to be made, these improvements signal a much healthier
and stronger Southcorp," Mr. Ballard said.
Other financial highlights for the year included:
- Net profit after tax and significant items of $46.2 million,
due principally to write-downs resulting from the asset review.
- Sales revenue decline of 5.8 percent to $1.062 billion,
primarily due to the strong Australian dollar, which reduced
sales revenue in Australian dollars by $94.6 million.
- Margins improved significantly from 11.7 percent in 2003 to
16.6 percent in 2004.
- The Australasian business delivered a solid earnings growth
of 48 pecrent to $59.4 million.
- A strong recovery in UK/Europe delivered earnings of $32.5
million ($8 million loss in 2003).
2005 Outlook
Mr. Ballard said Southcorp's outlook was positive. "While market
conditions remain competitive in all our regions, the business
is expected to deliver modest profit growth in 2005, underpinned
by an increased investment in advertising and promotion. We will
also benefit from lower costs realized from the higher 2004
vintage and continued focus on cost reduction," Mr. Ballard
said.
As previously announced to the market, Southcorp's 2005 earnings
will include the impact of currency and the lower availability
of super premium wines from the drought -affected 2002 vintage.
The combined effect of these factors is approximately $30
million.
Looking forward to 2006, the Company should enjoy the first
significant impact of the savings from the asset review and
lower grape costs as the remaining legacy contracts run off.
Based on current expectations of exchange rates, we would
anticipate the impact of currency on earnings to be reduced.
Mr. Ballard also indicated that while no dividend had been
declared this year, the Board of Southcorp anticipates declaring
one in the second half of 2005, subject to achievement of the
current business plan.
Trading Review
Southcorp continued to be affected by the strong Australian
currency in 2004, which rose 20 percent against the US dollar
and 10 percent against the British pound. Sales revenue for 2004
declined 5.8 percent to $1062.2 million, primarily due to the
strong Australian dollar, which reduced sales revenue by $94.6
million. However, removing the effect of currency shows sales
revenue was up around 3 percent as the result of an improvement
in the price and product mix across the business.
To view a full copy of this press release, click
http://bankrupt.com/misc/SOUTHCORPLIMITED081904.pdf
CONTACT:
Southcorp Limited (Australian: SRP)
403 Pacific Hwy. Artarmon,
New South Wales 2064, Australia
Phone: +61-2-9465-1000
Fax: +61-2-9465-1100
Website: http://www.southcorp.com.au
==============================
C H I N A & H O N G K O N G
==============================
401 HOLDINGS: Winding Up Petition Hearing Adjourned
---------------------------------------------------
Pursuant to an order of the High Court dated 14 August 2004, the
hearing of the winding up petition of 401 Holdings Limited has
been adjourned to 6 October 2004.
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 further notice.
We refer to the Company's announcement dated 4 August 2004. As
stated in the Announcement, the winding up petition filed by the
Petitioner was scheduled to be heard on 18 August 2004.
The Provisional Liquidators have applied for an adjournment of
the hearing and pursuant to an order of the High Court dated 14
August 2004; the hearing of the winding up petition has been
adjourned from 18 August 2004 to 6 October 2004.
As limited financial resources are available to the Company,
this announcement will only be published on the Stock Exchange's
website.
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 further notice.
For and on behalf of
401 Holdings Limited
(Provisional Liquidators Appointed)
Cosimo Borrelli
Fan Wai Kuen
Joint and Several Provisional Liquidators
This Hong Kong Stock Exchange announcement is dated August 20,
2004.
BEST REACH: Court Hears Winding Up Petition
-------------------------------------------
Notice is given that a Petition for the Winding up of Best Reach
Industrial Limited by the High Court of Hong Kong Special
Administrative Region was, on the 5th day of August 2004,
presented to the said Court by Bank of China (Hong Kong) Limited
(the successor banking corporation to Kincheng Banking
Corporation pursuant to Bank of China (Hong Kong) Limited
(Merger) Ordinance (Cap.1167) whose registered office is
situated a t 14th Floor, Bank of China Tower, 1 Garden Road,
Hong Kong.
The said Petition will be heard before the Court at 10:00 am on
the 8th day of September 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.
Ford, Kwan & Company
Solicitors for the Petitioner
Room 1202-1206, 12th Floor,
Wheelock House, 20 Pedder Street
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 7th day of
September 2004.
CHARMY INTERNATIONAL: Winding Up Hearing Slated September 15
------------------------------------------------------------
A Petition for the Winding up of Charmy International Limited by
the High Court of Hong Kong Special Administrative Region was,
on the 5th day of August 2004, presented to the said Court by
Bank of China (Hong Kong) Limited (the successor banking
corporation to Kincheng Banking Corporation pursuant to Bank of
China (Hong Kong) Limited (Merger) Ordinance (Cap.1167) whose
registered office is situated a t 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 15th day of September 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.
T. H. Koo & Associates
Solicitors for the Petitioner
Room A2, 15th Floor, United Centre
No. 95 Queensway
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 14th day of
September 2004.
FT HOLDINGS: Proposes Name and Financial Year End Date Changes
--------------------------------------------------------------
FT Holdings International Limited announced on the Hong Kong
Stock Exchange its proposed Change of Name and Change of
Financial Year End Date.
Change of Name
To reflect the recent change in control and management of FT
Holdings, the directors of FT Holdings propose to change the
English name of FT Holdings from FT Holdings International
Limited to Hua Yi Copper
Holdings Limited.
The proposed change of name will not affect the rights of the FT
Shareholders.
All existing share certificates in issue bearing the present
name of FT Holdings will, after the proposed change of name
becomes effective, continue to be evidence of title to the
shares of FT Holdings and will be valid for trading, settlement
and registration purposes. There will not be any arrangement for
free exchange of existing share certificates for new share
certificates under the new name of FT Holdings. Any new share
certificates of FT Holdings will be issued in the new name after
the proposed change of name becomes effective.
Conditions
The proposed change of English name is subject to the following
conditions being fulfilled:
(i) the passing of a special resolution by the FT Shareholders
at the special general meeting of FT Holdings (the SGM) to
approve the proposed change of English name; and
(ii) the Registrar of Companies in Bermuda approving the
proposed change of English name.
A further announcement will be made when the proposed change of
English name of FT Holdings and the adoption of new Chinese name
becomes effective.
Change of Financial Year-end Date
The FT Board would also like to announce that the financial year
end date of the FT Group will be changed from 31 December to 30
June. Accordingly, the next financial year-end date for FT
Holdings will be 30 June 2005.
Reasons for the change
FT Holdings became a subsidiary of Solartech as a result of
completion of the Transaction on 11 August 2004. The purpose of
the change of financial year-end date is to provide for co-
terminus accounting years throughout the group companies of
Solartech. This will enable the enlarged Solartech Group to
rationalize its internal resources and in turn facilitate FT
Holdings to prepare and update its financial statements for the
preparation of the consolidated accounts of
Solartech.
FT Holdings does not foresee the change of the financial year-
end date would result in any material financial and operational
impact on the FT Group.
Timetable for results announcements for the new financial year
ending 30 June 2005
Deadline for results announcement
Period covered and delivery of interim/annual report
1st Interim 6 months ended 30 June 2004 30 September 2004
2nd Interim 12 months ending 31 December 2004 31 March 2005
Final 18 months ending 30 June 2005 31 October 2005
General
A circular containing, among other things, particulars of the
proposed change of English name, the adoption of new Chinese
name and a notice of the SGM will be dispatched to the FT
Shareholders as soon as possible.
By order of the board
FT Holdings International Limited
Chau Lai Him
Chairman and Managing Director
Hong Kong, 20 August 2004
FT HOLDINGS: Exceptional Turnover Movement Noted
------------------------------------------------
The Hong Kong Stock Exchange has, on August 20, received a
message from FT Holdings International Limited which is
reproduced as follows:
"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.
We have noted the recent increases in trading volume of the
shares of the Company and wish to state that we are not aware of
any reasons for such increases save as those disclosed in the
announcement dated 17 August 2004 in relation to the change in
use of proceeds from the open offer.
We confirm that there are no negotiations or agreements relating
to intended acquisitions or realizations, which are discloseable
under rule 13.23, neither is the Board aware of any matter
discloseable under the general obligation imposed by rule 13.09,
which is or may be of a price-sensitive nature.
For and on behalf of
FT Holdings International Limited
Hui Chun Lam
Director
GOLDEN WEAL: Faces Bankruptcy Proceedings
-----------------------------------------
Notice is given that a Petition for the Winding up of Golden
Weal Limited by the High Court of Hong Kong Special
Administrative Region was, on the 4th day of August 2004,
presented to the said Court by Bank of China (Hong Kong) Limited
(the successor banking corporation to Kincheng Banking
Corporation pursuant to Bank of China (Hong Kong) Limited
(Merger) Ordinance (Cap.1167) whose registered office is
situated a t 14th Floor, Bank of China Tower, 1 Garden Road,
Hong Kong.
The said Petition will be heard before the Court at 10:00 am on
the 8th day of September 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.
Gallant Y. T. Ho & Co.
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 7th day of
September 2004.
SHINE GOLD: Enters Winding Up Proceedings
-----------------------------------------
Notice is given that a Petition for the Winding up of Shine Gold
Limited by the High Court of Hong Kong Special Administrative
Region was, on the 4th day of August 2004, presented to the said
Court by Bank of China (Hong Kong) Limited (the successor
banking corporation to Kincheng Banking Corporation pursuant to
Bank of China (Hong Kong) Limited (Merger) Ordinance (Cap.1167)
whose registered office is situated a t 14th Floor, Bank of
China Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 10:00 am on
the 8th day of September 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.
Gallant Y. T. Ho & Co.
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong
Note: Any person who intends to appear on the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 7th day of
September 2004.
SYSCAN TECHNOLOGY: Names New Executive Directors
------------------------------------------------
The board of directors of SYSCAN Technology Holdings Limited
hereby announces that Mr Chan Man Ching, Mr Wong Chung, John and
Dr Zhang Fu have been appointed as Executive Directors of the
Company for a term of 3 years effective from 21 August 2004.
Mr Chan Man Ching, aged 35, is currently the Qualified
Accountant and Chief Financial Officer of the Group, and not
holding any other position with the Company or members of the
Group.
Mr Wong Chung, John, aged 35, is the Executive Director and
General Manager of two PRC subsidiaries, and is responsible for
the business operations and sales and marketing performance in
Asia-Pacific markets, and not holding any other position with
the Company or members of the Group.
Dr Zhang Fu, aged 40, is the Chief Operating Officer of the
Group's China Business Group and General Manager of a PRC
subsidiary, and not holding any other position with the Company
or members of the Group.
To view the full announcement, click:
http://bankrupt.com/misc/TCRAP_SYSCANTECHNOLOGY082304.pdf
TREND ACCESS: Winding Up Hearing Set September 8
------------------------------------------------
Notice is given that a Petition for the Winding up of Trend
Access Holdings Limited by the High Court of Hong Kong Special
Administrative Region was, on the 4th day of August 2004,
presented to the said Court by Bank of China (Hong Kong) Limited
(the successor banking corporation to Kincheng Banking
Corporation pursuant to Bank of China (Hong Kong) Limited
(Merger) Ordinance (Cap.1167) whose registered office is
situated at 14th Floor, Bank of China Tower, 1 Garden Road, Hong
Kong.
The said Petition will be heard before the Court at 10:00 am on
the 8th day of September 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.
Gallant Y. T. Ho & Co.
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 7th day of
September 2004.
WONDERLAND LIMITED: Court Sets Bankruptcy Petition Hearing
----------------------------------------------------------
Notice is given that a Petition for the Winding up of Wonderland
Limited by the High Court of Hong Kong Special Administrative
Region was, on the 5th day of August 2004, presented to the said
Court by Bank of China (Hong Kong) Limited (the successor
banking corporation to Kincheng Banking Corporation pursuant to
Bank of China (Hong Kong) Limited (Merger) Ordinance (Cap.1167)
whose registered office is situated a t 14th Floor, Bank of
China Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 15th day of September 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.
T. H. Koo & Associates
Solicitors for the Petitioner
Room A2, 15th Floor, United Centre
No. 95 Queensway
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 14th day of
September 2004.
* Hong Kong July Bankruptcy Filings Down
----------------------------------------
Amid Hong Kong's economic recovery, bankruptcy petition filings
fell in July, Reuters relates.
Bankruptcy petitions, which give an indication of future
insolvencies, dipped 2.6 percent in July to 1,041 from 1,069 in
June. Personal bankruptcies, on the other hand, dropped 20.7
percent last month to 999 from June's 1,260.
Hong Kong, which has rebounded from recession last year, is
targeting a six percent economic growth this year.
The decline in winding up petition filings raises hope that the
"increases over the two previous months were a temporary blip
and that the trend is still downward."
=================
I N D O N E S I A
=================
BANK DAGANG: Depositors To Be Reimbursed By Government
------------------------------------------------------
The Indonesian government has said it will be honoring about
IDR104.7 billion worth of assets in more than 34,000 incomplete
accounts in bankrupt Bank Dagang Bali (BDB), reports The Jakarta
Post.
In an official statement, the Bank Deposit Guarantees Unit (UP3)
of the Ministry of Finance said it will commence reimbursing
these and other depositors by the end of the month.
The reimbursements include about 34,000 accounts that were not
backed up by proper documents, according to investigators. The
said reimbursements are part of payouts to depositors with
121,104 verified accounts in the bank.
However, the UP3 statement said depositors still need written
confirmation from the bank's liquidation team verifying their
claims in order to secure the payments.
The UP3 is tasked with carrying out the blanket guarantees
program, which reimburses claims from depositors in bankrupt
banks.
"The decision to honor the 34,000 accounts was determined by the
minister of finance (Boediono) upon considering input from the
central bank governor (Burhanuddin Abdullah)," the statement
says.
BDB, along with Bank Asiatic, was closed down in May due to a
worsening in its finances stemming from alleged illegal
transactions between the two banks involving bad loans worth
IDR1.2 trillion. Owned by two families connected by marriage,
the banks caused irredeemable liquidity problems with its
violation of prudential banking regulations, according to Bank
Indonesia.
The Ministry of Finance had set aside IDR1.4 trillion for the
payments of claims in both BDB and Asiatic.
BANK NEGARA: H1 Net Profit Jumps To IDR1.54tln
----------------------------------------------
An increase in net interest income has enabled PT Bank Negara
Indonesia (BBNI.JK) to register a net profit of IDR1.5 trillion
in the first half, compared to IDR408.80 billion in the same
period last year, Dow Jones reveals.
BNI, which is 99.12-percent owned by the government, said on
Friday that due to a rise in lending, its net interest income
jumped 50 percent on year to IDR3.3 trillion. Its outstanding
loans, meanwhile, is up 20 percent from IDR42.38 trillion a year
earlier to IDR50.93 trillion.
Indonesia's second-largest lender also credited the lower loan
loss provision during the first half for the higher net profit.
The bank provided IDR1.13 trillion in loan loss provision during
the period compared with IDR1.83 trillion a year earlier. The
higher loan loss reserves last year was used to cover illegal
loans of IDR1.7 trillion.
As of June 30, the bank's assets stood at IDR128.62 trillion, up
from IDR125.34 trillion a year earlier, while capital adequacy
ratio stood at 19.88%, compared with 18.12 percent.
BNI said it expects its net profit for full-year 2004 to pick up
to around IDR3 trillion behind an increase in lending.
CONTACT:
Pt Bank Negara Indonesia Terbuka
Jalan Jenderal Sudirman Kav 1
Jakarta, 10220
Indonesia
Phone: +62 21 2511946
+62 21 2511214
Website: www.bni.co.id
GARUDA INDONESIA: Doubling Certain Ticket Prices Next Month
-----------------------------------------------------------
With global oil prices approaching the US$50 level, Indonesia's
flagship carrier Garuda Indonesia will implement a 100-percent
ticket price increase on selected international routes, relates
The Jakarta Post.
"The hike will be applied after Sept. 15 on flights to Japan and
Australia because now, we're fully booked until the end of the
month since it's a holiday season," Garuda business manager
Bachrul Alam told The Jakarta Post on Friday.
In June, Garuda added a US$5 surcharge per flight on selected
international routes.
"Honestly, we must increase the surcharge now, but it would be
odd if we did it in the middle of this situation," he said,
adding that Garuda had also been cutting costs in all
departments to keep production efficient.
CONTACT:
PT Garuda Indonesia
Garuda Indonesia Bldg., Jalan Merdeka Selatan No. 13
Jakarta, 10110, Indonesia
Phone: +62-21-231-0082
Fax: +62-21-231-1679
http://www.garuda-indonesia.com
PERTAMINA: To Boost Fuel Oil Stock Ahead of Election, Holidays
--------------------------------------------------------------
In order to secure supply during the upcoming presidential
election next month, state oil and gas company PT Pertamina said
on Friday it will bolster the national fuel oil stock to 23 days
of consumption, reports the Antara news agency. The increase
will also cover consumption needs during the Idl Fitri and
Christmas holidays.
"Currently, the stock is still relatively low at 21 days, but we
will try to increase it to a secure level at 23 days of
consumption," Pertamina Marketing Director Ari Soemarno said
here Friday.
Mr. Ari said that in order to achieve its goal, Pertamina will
optimize its domestic oil production and importing capability.
Its efforts, however, will have to be in consonance with the
firm's financial condition, particularly in relation to its
ability to finance crude oil and fuel oil imports.
"We need to import 300,000 barrels of oil costing US$17.5
million a day. This is a huge amount, and we need smooth
payments of the government's subsidy," he said.
CONTACT:
PT Pertamina Tbk
Jalan Merdeka
Timur No. 1 A
Jakarta 10110
Tel: (62)(21)3815111
Fax: 3846865/ 3843882
www.pertamina.com
=========
J A P A N
=========
DAIEI INCORPORATED: Firm Attempting Private Rehabilitation
----------------------------------------------------------
Daiei Incorporated has presented a new revival plan to its three
main lenders, seeking to revive its business without help from
state-backed Industrial Revitalization Corporation of Japan
(IRCJ), Agence France Presse reports.
Under the plan, the struggling firm will downsize its operations
provided its creditors will waive JPY400 billion (US$3.7
billion) worth of debts.
Debt-ridden Daiei has rejected the idea of IRCJ's involvement in
its restructuring, saying it can solve its own problems. Reports
said that IRCJ would inject up to US$950 million for "effective
control of the ailing retailer."
Trading in Daiei's shares was temporarily halted last Friday
following a report that Daiei's main creditors UFJ Bank, Mizuho
Corporate Bank and Sumitomo Mitsui Banking Corporation were
likely to cut its capital sharply.
Several firms, including U.S. based Wal-mart, Ripplewood
Holdings LLC and Tokyo-based Phoenix Capital, have expressed
interest in sponsoring Daiei's rehabilitation.
CONTACT:
The Daiei Incorporated
4-1-1, Minatojima Nakamachi,
Chuo-ku, Kobe, 650-0046
Japan
Phone: +81-78-302-5001
Fax: +81-78-302-5572
Website: www.daiei.co.jp
MITSUBISHI MOTORS: To Release Defect Cover-up Probe Results
-----------------------------------------------------------
As part of efforts to revamp its tarnished image, Mitsubishi
Motors Corporation will announce on Thursday the results of an
in-house probe on defect cover-up issues, Asia Intelligence Wire
says, citing The Daily Yomiuri.
The embattled automaker is set to release the outcome of the
investigation in order to regain consumer confidence, which has
fizzled following MMC's concealment of faulty parts in its
vehicles that necessitated recalls. At the same time, MMC will
declare an end to the recalls to prove to the public that it has
no more defective cars.
According to sources, safety-conscious female consumers have
refrained from buying MMC cars. This has contributed to a 50
percent decline in sales on a year-on-year basis since May.
Unless MMC can declare its vehicles safe, sales will remain
sluggish, sources added.
Aside from the in-house investigation, MMC has also been
collecting documents from its dealers to determine whether
additional recalls are necessary.
CONTACT:
Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
Website: http://www.mitsubishi-motors.co.jp
MITSUBISHI MOTORS: To Revive Suppliers' Club
--------------------------------------------
In order to "regain the relationship of trust", Mitsubishi
Motors Corporation will strive to restore a club of auto parts
suppliers, Kyodo News reports, citing MMC President Hideyasu
Tagaya.
Mr. Tagaya affirmed that the struggling automaker is planning to
form a cooperative association to "bring about smooth, two way
communication" between the company and its suppliers.
In June 2002, MMC was forced to dissolve its original suppliers'
club of 344 members two years after its alliance with
DaimlerChrysler AG, which urged MMC to tap auto parts suppliers
outside its traditional network.
Presently, MMC has decided to revive the club as its ties with
DaimlerChrysler weaken following the German automakers' refusal
to extend additional monetary aid to the ailing auto firm.
SOJITZ HOLDINGS: Forms Alliance with Israeli Company SoluBest
-------------------------------------------------------------
In a press release last Friday, Sojitz Corporation disclosed
that it has formed an alliance with the Israeli nanotechnology
venture company SoluBest Ltd., and has signed an exclusive
Japanese agency agreement for nanotechnology to be applied for
drug delivery systems, which have recently been the focus of
attention in the pharmaceutical industry.
Sojitz will not only introduce SoluBest technology to
pharmaceutical companies, but will also provide cooperation in
areas of product design, development, manufacturing and
marketing. Commercialization of the technology in the field of
drug delivery systems will be pursued in the domestic
pharmaceutical market, which has an annual market of around 7
trillion yen.
Drug delivery system is technology designed to maximize drug
efficacy and stability, alleviate side effects and reduce
dosage. The Solumer TM technology developed by SoluBest produces
Solu-Nanoparticles, nanometer-sized (one billionth of a meter)
stable particles, by wrapping active compounds with polymers.
Solu-Nanoparticle is particularly characterized by requiring
less energy for dissolution and absorption compared with
conventional technology using chemical bonding. Thus, the
technology enables the control of the absorption rate and
absorption capacity of pharmaceutical ingredients through
improvements in solubility, and the adjustment of the volume of
compounds contained in products.
The stabilized molecules of Solu-Nanoparticles inhibit the
original compounds from naturally reverting back to their
crystalline structure, and therefore enable the maintenance of
compound activity for long periods of time in the body. Use of
the Solumer technology will enable the production of
pharmaceuticals that have been difficult to produce by means of
existing technologies, such as encapsulation and by altering the
size and physical conditions of compounds as a result of
chemical changes, and will expand the possibilities for new
product development.
TM
Solumer TM technology uses existing polymers that have been
approved as pharmaceuticals. The combination of compounds and
polymers can be changed in various ways in accordance with
purpose and application, and such polymers thus have a broad
range of application. Utilization is even considered for
cosmetics such as emulsions and foundations, pigment preparation
such as for inks, paints and dyes, in addition to pharmaceutical
products such as antibiotics, anti-cancer drugs and
antibacterial agents.
Sojitz has been working on the introduction of excellent
technologies to Japan through strategic alliances and the
implementation of joint endeavors with overseas bio-venture
companies. The company will take full advantage of the network
it has built and the know-how it has accumulated over a long
period of time, and will pursue new business development
utilizing new technology.
(About SolumerTM)
Solumer TM is a technology that combines, without inducing
chemical changes, the active compounds in pharmaceuticals with
existing polymers by physical force such as hydrogen bonding,
electrostatic force and Van-der-Waals force, so as to create
optimal structures. This technology was applied to stabilize the
structure of compounds, and has resulted in the creation of
Solu-Nanoparticles. The know-how developed by SoluBest allows
the combination of compounds and polymers to control their
various properties. The company customizes polymers that are to
be combined, in accordance with the characteristics of the
subject compound, for specific applications and purposes.
SoluBest has already undertaken feasibility studies, in
collaboration with its partners in Israel and abroad, and is
pursuing commercialization of the technology in the areas of
pharmaceuticals and cosmetics to start with. The company has
tied up with Ahava Dead Sea Cosmetics Inc. (Head office: Israel)
to develop products such as anti-acne gels and exfolients for
elbows and soles. Such products are scheduled for launch in
2005.
(Outline of SoluBest Ltd.)
Establishment: 2001
Address: Tamar Science Park, 4 Pekeris Street, Rehovot 76702,
Israel
Representative: Mr. Erwin Stern, Chairman & Chief Executive
Officer
Business activity: Development of nanotechnology to improve the
properties of compounds, such as pharmaceuticals and cosmetics,
with the use of polymers. Development of products to which the
said technology is applied.
Website: http://www.solubest.com
UFJ HOLDINGS: Establishes Integration Committee with MTFG
---------------------------------------------------------
Mitsubishi Tokyo Financial Group, Inc. and UFJ Holdings, Inc.
announced in a press release that they have established an
Integration Committee comprising the members listed below. This
committee will seek to make rapid progress in setting details of
management integration in line with the basic agreement
previously announced on August 12, 2004.
As a basic integration policy, this committee decided at its
first meeting to adopt a group-wide business management system
for the newly integrated group to ensure the provision of
flexible and integrated services to meet the diverse financial
needs of customers. Business strategy, the business promotion
framework and other matters relating to the new group will be
decided on an integrated group-wide basis by a subcommittee of
the Integration Committee. The subcommittee will aim to discuss
and reach decisions in a focused and efficient manner.
To view the full press release, click:
http://bankrupt.com/misc/TCRAP_UFJHOLDINGS082304.pdf
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
=========
ASIANA AIRLINES: Asks For Tax Cuts Along With Korean Air
--------------------------------------------------------
With oil prices approaching the US$50-mark, South Korea's two
major airlines have asked for immediate government aid, JoongAng
Daily reports, citing the Ministry of Construction and
Transportation.
According to the ministry, Korean Air and Asiana Airlines have
asked for cuts in oil-related taxes and special taxes levied on
aircraft. In addition, both carriers have also aired complaints
that airport facilities were too expensive, and that fares
imposed on landings as well as various facility rentals should
be lowered.
Korean Air and Asiana have been taking steps to cut fuel
consumption on flights by reducing the weight of their planes.
But soaring global oil prices, however, are threatening their
earnings.
CONTACT:
Asiana Airlines Incorporated
47 Osoe-Dong Kangseo-Gu
157-270
Korea (South)
Tel: +82 2 669 3114
Tel: +82 2 669 3170
JINRO LIMITED: Management, Union Reach Tentative Deal
-----------------------------------------------------
A provisional contract agreement between the management and
labor union of soju distiller Jinro Limited has been reached
after a lengthy discussion Saturday, reports The Korea Herald.
Union officials said on Sunday that both sides came to a
tentative agreement over demands for a pay raise, five-day
workweek and better working conditions. The terms of the
agreement, however, would only be disclosed upon approval by the
union in a vote set for yesterday.
The agreement effectively halted a partial strike on Friday,
wherein unionized workers held work stoppages of four hours
during each eight-hour shift.
The company's three soju distilleries in Icheon, Gyeonggi
Province, Cheongwon in North Chungcheong Province and Masan,
South Gyeongsang Province, were affected by the partial strike.
Jinro's labor union had been demanding a 12-percent wage hike, a
five-day workweek and job security, but after 13 rounds
of negotiations, the talks still ended in failure. Negotiations
were restarted Wednesday but differences between management and
labor could not be bridged, resulting in the partial strike.
About 97 percent of Jinro's union members voted to strike on
Aug. 13.
Jinro, which has a 54-percent share of the domestic soju market,
has been under court receivership since May 2003. Its debt is
estimated at KRW2.37 trillion (US$2.05 billion).
CONTACT:
Jinro Limited
1448-3 Seocho-dong Seocho-gu
Seoul, SEOUL 137-866
KOREA (SOUTH)
Tel: +82 2 520 3114
Tel: +82 2 520 3453
LG INVESTMENT: Woori Submits Final Bid
--------------------------------------
The sole bidder for a controlling stake in South Korean
brokerage LG Investment & Securities has finally submitted its
final bid, Reuters reveals.
An official of the Woori Financial Group, South Korea's third-
biggest financial services group, confirmed that it has
submitted on Friday its final offer for LG Investment, the
country's second-ranked brokerage. He, however, did not comment
on Woori's bid price.
The official also said that negotiations may take longer that
expected, but the company aims to conclude by next month the
long-delayed sale, which is being managed by Korea Development
Bank (KDB).
Last month, Woori signed a preliminary agreement to buy a 21.2
percent stake in LG Investment after a foreign bidder dropped
out of the two-horse race.
The LG Securities stake was put up for sale to raise funds to
help ailing affiliate LG Card Co. Ltd. KDB and other creditors
of the troubled card company hope to sell the stake for about
KRW600 billion (US$518.9 million) to raise at least KRW350
billion in net gains to funnel into LG Card.
CONTACT:
LG Investment & Securities
20,Yoido-dong, Youngdungpo-gu
Seoul, 150-721, Korea
Telephone: 82-2-768-7000
Fax: 82-2-782-6337
SSANGYONG MOTOR: Talks Between Creditors, SAIC Still On
-------------------------------------------------------
The chief executive of Chohung Bank, Ssangyong Motor Co.'s
(003620.SE) main creditor, said on Friday that since the auto
maker's creditors are still negotiating with preferred bidder
Shanghai Automotive Industry Corp. (SAIC), they have no
intention of starting talks to sell a controlling stake in the
car maker to a new investor, Dow Jones reports.
The comment followed a report last Friday that a firm headed by
a Saudi Arabian prince has expressed interest in buying
Ssangyong.
"It isn't appropriate to talk to a new investor as we gave the
exclusive negotiating right to SAIC. Even if talks with SAIC
break down, we still have a secondary bidder," said Choi Dong-
Soo, CEO of Chohung Bank, in an interview with Dow Jones.
Last month, Ssangyong Motor creditors named China's SAIC as the
preferred bidder for a controlling 48.9% stake in South Korea's
fourth-largest carmaker, and signed a memorandum of
understanding that aims to close the deal by end-September. The
creditors, at the same time, chose a U.S.-based investment fund
as a secondary bidder, in case the SAIC deal fails.
SAIC is now conducting final due diligence on Ssangyong and will
negotiate the final terms for the deal with creditors.
Last Friday, it was reported that a group led by Saudi prince
Bin Bandar Al-Faisal said it will meet Ssangyong Motor's
creditors to offer a letter of intent and request for official
talks. The group also said that it is willing to pay a price
higher than that offered by SAIC, that it would compensate for
possible penalties creditors would have to bear if they broke
the MOU with the Chinese auto maker.
Ssangyong Motor was put up for sale after it was spun off from
Daewoo Group, which was dissolved in 1999 after collapsing under
trillions of won in debt. Creditors then took control of the
carmaker through two debt-for-equity swaps.
CONTACT:
Ssangyong Motor Company Limited
150-3 ChilgoE-dong
Pyeongtaek-si, Kyonggi 459-711
Korea (South)
Tel: +82 31 610 1114
Tel: +82 31 610 3739
===============
M A L A Y S I A
===============
ANTAH HOLDINGS: Bursa Securities Imposes Fine of RM25,000
---------------------------------------------------------
On 20 August 2004, Bursa Malaysia Securities Berhad (Bursa
Securities) in consultation with the Securities Commission,
publicly reprimanded and imposed a fine of RM25,000 on Antah
Holdings Berhad (ANTAH) for breach of paragraphs 9.03(1) and
9.04(l) of Bursa Malaysia Securities Berhad's Listing
Requirements (Bursa Securities LR) and paragraphs 2.1(d) and
2.1(e) of Practice Note 1/2001 (PN1/2001).
Paragraph 9.03(1) of the Bursa Securities LR states that a
listed issuer must make immediate public disclosure of any
material information, except as set out in Paragraph 9.05 of the
LR.
Paragraph 9.04(l) of the Bursa Securities LR states that an
event which may require immediate disclosure by the listed
issuer is the occurrence of an event of default on interest
and/or principal payments in respect of loans.
Paragraphs 2.1(d) and 2.1(e) of PN 1/2001 state the situations
which a listed issuer shall be required to make an immediate
announcement under paragraphs 9.03 and 9.04 are:
1) default in payments of either interest or principal sums or
both in respect of a credit facility where the credit facility
is 5% or more of the net tangible assets of the listed issuer;
or
2) default in payments of either interest or principal sums or
both in respect of a credit facility which is reasonably
expected to have a material effect on the price, value or market
activity of any of the listed issuer's securities or the
decision of a holder of securities of the listed issuer or an
investor in determining his choice of action.
Antah was found to be in breach of the aforesaid paragraphs of
the Bursa Securities LR and PN1/2001 for failing to make
immediate announcements in respect of the default in payment of
the credit facilities by the Company and its subsidiary as
announced by the Company on 25 March 2004. The delay in making
the relevant announcements ranges from approximately 9 to 19
months.
The public reprimand and fine were imposed pursuant to Paragraph
16.17 of the Bursa Securities LR after having considered all
relevant factors including the fact that ANTAH had previously
breached the Bursa Securities LR and after consultation with the
Securities Commission.
Previous Public Reprimands
1. On 27 July 2002, Bursa Securities had publicly reprimanded
ANTAH for breach of Section 114 of the Main Board Listing
Requirements (MBLR) for failing to make an immediate
announcement to Bursa Securities for public release in relation
to the following:
(a) the Option & Investment Deed Agreement (the Deed) signed on
14 August 1997 between Antah European Holdings Sdn Bhd, a
wholly-owned subsidiary of ANTAH, JW Carpenter Limited and five
other parties. The Deed was only announced by ANTAH on 9 March
2001, after a delay of approximately 3 years and 7 months; and
(b) the agreement entered on 15 December 2000 between ANTAH and
Global Empire Sdn Bhd for ANTAH to buy back the entire shares of
Convenience Shopping Sdn Bhd (the Agreement). The Agreement was
only announced by the Company on 7 March 2002, after a delay of
approximately 15 months.
Antah was also publicly reprimanded for breach of Section 335 of
the MBLR for failing to make an immediate announcement to Bursa
Securities for public release of the lapse of the Agreement on
15 December 2001 which was only announced by ANTAH on 7 March
2002, after a delay of 50 market days.
2. On 2 March 2004, Bursa Securities had publicly reprimanded
and imposed a fine of RM14,000 on the Company for breach of
Paragraph 9.23(b) of the Bursa Securities LR for failing to
furnish its annual audited accounts for the financial year ended
30 June 2003 (the Annual Audited Accounts) to Bursa Securities
on or before 31 October 2003. The Annual Audited Accounts were
only furnished by ANTAH to Bursa Securities on 11 November 2003.
3. On 23 April 2004, Bursa Securities had publicly reprimanded
and imposed a fine of RM25,000 on ANTAH for the following
breaches:
(a) Paragraph 9.04(l) of the Bursa Securities LR and paragraphs
2.1(d) and 2.1(e) of PN1/2001 for failing to make immediate
announcements in respect of the default in payment of the
banking facilities by the Company (the Default in Payment) as
announced by the Company on 6 October 2003. The delay in making
the relevant announcements ranges from approximately 3 to 19.5
months;
(b) Paragraphs 9.03(1) and 9.04(f) of the Bursa Securities LR
for failing to make immediate announcements in respect of the
legal suits instituted against the Company in relation to the
Default in Payment as announced by the Company on 6 October
2003. The delay in making the relevant announcements ranges from
approximately 1 to 14 months; and
(c) Paragraphs 9.03(1) and 9.04(f) of the Bursa Securities LR
for failing to make immediate announcements in respect of the
Order 14 Judgements/Judgements in Default obtained against the
Company in relation to the legal suits commenced by the
financial institutions as announced by the Company on 6 October
2003. The delay in making the relevant announcements ranges from
approximately 2.5 to 11 months.
4. On 23 April 2004, Bursa Securities had publicly reprimanded
ANTAH for the following breaches:
(a) Paragraph 9.27 of the Bursa Securities LR for failing to
ensure that the person who signed the statutory declaration in
the Company's audited financial statements for the financial
year ended 30 June 2003 fulfilled the requirements of paragraph
9.27 of the Bursa Securities LR or paragraph 7.1 of Practice
Note 13/2002; and
(b) Paragraph 2.17 of the Bursa Securities LR for confirming in
the checklist for the annual report for the financial year ended
30 June 2003 which was submitted to Bursa Securities on 8
December 2003 that the requirements under paragraph 9.27 of the
Bursa Securities LR had been complied with.
Bursa Malaysia Securities Berhad views the above contravention
seriously and hereby cautions the Company and its Board of
Directors on their responsibility to maintain appropriate
standards of corporate responsibility and accountability in
order to achieve greater disclosure and transparency to its
shareholders and the investing public.
CONTACT:
Antah Holdings Berhad
9577 Jalan SS16/1
Subang Jaya
47500 Petaling Jaya
Selangor
Tel: 03-5632 8668
Fax: 03-5635 1234
CONSOLIDATED FARMS: Issues Practice Note No. 1/2001 Update
----------------------------------------------------------
Further to the monthly status announcement under Practice Note
No. 1/2001 on 13 August 2004, the Board of Directors of
Consolidated Farms Berhad (Confarm) announced that the Confarm
Group is unable to pay the additional principal and/or interest
in respect of its credit facilities as set out in Table 1.
The Company and its financial advisors, Deloitte KassimChan
Business Services Sdn Bhd, have met with the respective lenders
to apprise them on Confarm Group's current financial condition
and have sought their indulgence and consideration to provide a
standstill period in respect of the Group's credit facilities
for it to carry out a financial review and, if appropriate,
formulate a restructuring/workout scheme.
This announcement is dated 20 August 2004.
Table 1
Additional Amount of Principal and/or Interest Due from 14
August 2004 to 20 August 2004
Lender Borrower Additional Amount Type of Facilities
Due from 14 August
2004 to 20 August 2004
(RM'000)
Bumiputra-Commerce
Bank Berhad (BCBB) Confarm 1,150.0 Bankers'
Acceptance
(BA)
Malayan Banking
Berhad (MBB) Confarm 66.0 BA
BCBB Consolidated 682.0 BA
Feedmill
Sdn Bhd
Total 1,898.0
Note: The above figures are based on the respective companies'
records and exclude any penalty interest that may be charged by
the respective lenders.
CONTACT:
Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299
DATAPREP HOLDINGS: Releases Unaudited Quarterly Report
------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Dataprep
Holdings Berhad released its unaudited quarterly report for the
financial period ended June 30, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
30/06/2004 30/06/2003 30/06/2004 30/06/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
20,626 18,687 20,626 18,687
2 Profit/(loss) before tax
453 -5,551 453 -5,551
3 Profit/(loss) after tax and minority interest
139 -5,593 139 -5,593
4 Net profit/(loss) for the period
139 -5,593 139 -5,593
5 Basic earnings/(loss) per shares (sen)
0.22 -9.09 0.22 -9.09
6 Dividend per share (sen)
0.00 0.00 0.00 0.00
AS AT END OF AS AT PRECEDING
CURRENT FINANCIAL YEAR
QUARTER AS END
7 Net tangible assets per share (RM)
.0800 0.0700
CONTACT:
Dataprep Holdings Berhad
Lot 69-73, Jalan Setiabakti
Bandar Damansara
50490 Kuala Lumpur, WP
Malaysia
Tel no: 603-2539625
Fax no: 603-2539620
FORESWOOD GROUP: Discloses Regularization Plan Update
-----------------------------------------------------
In accordance with Paragraph 5.1 of Practice Note No. 4/2001 of
the Listing Requirement of Bursa Malaysia Securities Berhad
(Bursa Securities), Foreswood Group Berhad announced that Bursa
Securities has approved to await the outcome of the Company's
application to the relevant authorities on the regularization
plans.
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.
In the event the company fails to obtain any of the authorities'
approvals necessary for the implementation of its regularization
plans and no further extension of the time is granted to the
Company, Bursa Securities has the right to proceed to commence
proceedings for suspension and/or de-listing of the securities
of the Company from the official list of Buras Securities.
CONTACT:
Foreswood Group Berhad
Level 4, B59
Taman Sri Sarawak Mall
Jalan Tunku Abdul Rahman
93100 Kuching , Sarawak
Malaysia
Tel no: 6082-428626
Fax no: 6082-423626
This announcement is dated 20 August 2004.
GOLDEN FRONTIER: Releases Shares Buy Back Notice
------------------------------------------------
Golden Frontier Berhad disclosed to the Bursa Malaysia
Securities Berhad the details of its shares buy back on August
20, 2004.
Date of buy back: 20/08/2004
Description of shares purchased: Ordinary Shares of RM1.00 Each
Total number of shares purchased (units): 1,000
Minimum price paid for each share purchased (RM): 0.700
Maximum price paid for each share purchased (RM): 0.700
Total consideration paid (RM): 713.28
Number of shares purchased retained in treasury (units): 1,000
Number of shares purchased which are proposed to be cancelled
(units): 0
Cumulative net outstanding treasury shares as at to-date
(units): 996,100
Adjusted issued capital after cancellation (no. of shares)
(units):
CONTACT:
Golden Frontier Berhad
No 11 Lorong Kinta
10400 Penang,
Malaysia
Tel: +60 4 226 2226
Tel: +60 4 228 2890
KRAMAT TIN: Releases Unaudited Quarterly Report
-----------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Kramat Tin
Dredging Berhad released its unaudited quarterly report for the
financial period ended June 30, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
30/06/2004 30/06/2003 30/06/2004 30/06/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
0 0
2 Profit/(loss) before tax
-288 -310
3 Profit/(loss) after tax and minority interest
-303 -331
4 Net profit/(loss) for the period
-303 -331
5 Basic earnings/(loss) per shares (sen)
-7.70 -8.40
6 Dividend per share (sen)
0.00 0.00
AS AT END OF AS AT PRECEDING
CURRENT FINANCIAL YEAR
QUARTER END
7 Net tangible assets per share (RM)
1.600 1.1400
CONTACT:
Kramat Tin Dredging Berhad
No 12 Jalan Gelenggang Bukit Damansara
Kuala Lumpur, 50490
MALAYSIA
+60 3 2092 5588
+60 3 2093 9917
KSU HOLDINGS: Bursa Securities Issues Public Reprimand
------------------------------------------------------
Bursa Malaysia Securities Berhad (Bursa Securities) in
consultation with the Securities Commission (SC), publicly
reprimanded and imposed a fine of RM400,000 on KSU Holdings
Berhad (KSU) for breaches of paragraph 9.22(1) of the Bursa
Malaysia Securities Berhad Listing Requirements (Bursa
Securities LR).
Pursuant to paragraph 9.22(1) of the Bursa Securities LR, a
listed issuer must give the Bursa Securities for public release,
an interim financial report that is prepared on a quarterly
basis (hereinafter referred to as "quarterly report") as soon as
the figures have been approved by the board of directors of the
listed issuer, and in any event not later than 2 months after
the end of each quarter of a financial year.
KSU has breached paragraph 9.22(1) of the Bursa Securities LR
for failing to submit the Company's quarterly reports for the
financial period ended 30 September 2003 and 31 December 2003 to
Bursa Securities within the stipulated time frames, namely on or
before 30 November 2003 and 28 February 2004 respectively. As at
to-date, the Company has yet to submit the said quarterly
reports to Bursa Securities for public release.
The public reprimand and fine were imposed pursuant to Paragraph
16.17 of the Bursa Securities LR after taking into consideration
all relevant factors and after consultation with the SC. KSU was
further directed to furnish the said quarterly reports to Bursa
Securities for public release within one (1) month from the date
hereof.
Previous Public Reprimands
1. On 10 May 2003, KSU was publicly reprimanded and fined
RM57,000 for breach of Paragraph 9.22 (1) of the Bursa
Securities LR for failing to give to Bursa Securities for public
release, its interim financial report for the financial period
ended 30 September 2002 within the time frame stipulated in the
Bursa Securities LR.
2. On 24 May 2003, KSU was publicly reprimanded for breach of
Paragraph 9.19(19) of the Bursa Securities LR for failing to
make an immediate announcement to Bursa Securities when a
winding up petition was served on Kumpulan Sepang Utama Sdn Bhd
(KSUSB), a wholly owned subsidiary of KSU, on 18 November 2002.
The announcement in respect of the winding up petition was only
made by KSU to Bursa Securities for public release on 3 December
2002, after a delay of eleven (11) market days.
3. On 26 July 2003, KSU was publicly reprimanded for breach of
Paragraphs 9.03 and 9.04(l) of the Bursa Securities LR and
Paragraph 2.1(1)(d) of PN1/2001 for failing to make an immediate
announcement to Bursa Securities when its subsidiary, KSUSB
defaulted in its repayment of the Term Loan and Bridging Loan
Facilities granted by Malaysia Building Society Berhad ("MBSB
Facilities") since June 1999. The announcement in relation to
the default of payment of the MBSB Facilities by KSUSB was only
made on 29 November 2002, after a delay of 6.5 months from the
date KSU assumed the listing status of May Plastics Industries
Berhad on 10 May 2002.
4. On 23 October 2003, KSU was publicly reprimanded for breach
of Paragraph 9.16 (1) (a) of the Bursa Securities LR for
omitting to disclose in the Company's announcement dated 5 March
2003 the fact that the injunction granted was an ex-parte
injunction which would lapse upon the expiry of 21 days from the
date of the Court Order dated 3 March 2003.
5. On 9 April 2004, KSU was publicly reprimanded for breaches of
the following provisions of the Bursa Securities LR:
i. Paragraph 4.1 of PN10 for failure to notify Bursa Securities
immediately on the Company's inadequate level of operations
pursuant to PN10 when the Company's main operating subsidiary,
KSUB had ceased operations almost a year prior to the listing of
KSU's shares on Bursa Securities on 10 May 2002.
ii. Paragraph 9.03, in particular Paragraph 9.03(1) and
Paragraph 9.04(f) of the Bursa Securities LR for failure to make
an immediate announcement in respect of the Writ of Summons and
Statement of Claim both dated 24 September 2003 filed by the
minority shareholder, Mr. Low Kah Khuen on behalf of himself and
all other shareholders of the Company save for those named as
defendants against the Company, Ban Guan Hin Realty Sdn. Bhd and
seven directors of the Company vide High Court of Malaya at
Kuala Lumpur Suit No. D2-22-1592-03 which were served on the
Company on 16 October 2003. However, the announcement on the
Writ of Summons and Statement of Claim was only made by the
Company on 7 November 2003, after a delay of 14 market days.
iii. Paragraph 9.16(1)(a) of the Bursa Securities LR for failure
to disclose the material information in the legal action, in
particular the Claim sought against the Company and its
directors in the Company's announcement dated 7 November 2003 on
the Writ of Summons and Statement of Claim filed by the minority
shareholder.
6. On 25 June 2004, KSU was publicly reprimanded and fined
RM200,000 for breach of Paragraph 9.23 (b) for failure to submit
its Annual Audited Account for financial year ended 31 March
2003 which was due on 31 July 2003. KSU was further directed to
furnish the Annual Audited Accounts to Bursa Securities for
public release within one (1) month from the date thereof.
7. On 9 July 2004, KSU was publicly reprimanded and fined
RM200,000 for breach of Paragraph 9.23 (a) for failure to submit
its Annual Report for financial year ended 31 March 2003 on or
before 30 September 2003. KSU was further directed to furnish
the Annual Report to Bursa Securities for public release within
one (1) month from the date thereof.
Bursa Securities views this contravention seriously and hereby
cautions KSU and its Board of Directors on their responsibility
to maintain appropriate standards of corporate responsibility
and accountability in order to achieve greater disclosure and
transparency to its shareholders and the investing public.
This announcement is dated 23 August 2004.
LEADER STEEL: Enters Voluntary Liquidation
------------------------------------------
Further to our announcement made on 28 June 2002, Leader Steel
Holdings Berhad wishes to announce that its 60% owned
subsidiary, Leader Steel (Overseas) Sdn Bhd [In Members'
Voluntary Liquidation] will be dissolved on 1 November 2004.
This Bursa Malaysia announcement is dated 20 August 2004.
LIEN HOE: Bursa Securities Commission Imposes RM3,000 Fine
----------------------------------------------------------
In consultation with the Securities Commission (SC), Bursa
Malaysia Securities Berhad (Bursa Securities) hereby publicly
reprimands and imposes a fine of RM3,000 on Lien Hoe Corporation
Berhad (LIENHOE) for breach of paragraph 9.22(1) of the Bursa
Malaysia Securities Berhad Listing Requirements (Bursa
Securities LR).
Pursuant to paragraph 9.22(1) of the Bursa Securities LR, a
listed issuer must give the Exchange for public release, an
interim financial report that is prepared on a quarterly basis
(hereinafter referred to as "quarterly report") as soon as the
figures have been approved by the board of directors of the
listed issuer, and in any event not later than 2 months after
the end of each quarter of a financial year.
LIENHOE has breached paragraph 9.22(1) of the Bursa Securities
LR for failing to submit the Company's quarterly report for the
financial period ended 31 December 2003 to the Bursa Securities
on or before 29 February 2004. The Company only submitted the
said quarterly report on 3 March 2004, after a delay of three
(3) market days.
The public reprimand and fine were imposed pursuant to Paragraph
16.17 of the Bursa Securities LR after taking into consideration
all relevant factors and after consultation with the SC.
Bursa Securities views this contravention seriously and hereby
cautions LIENHOE and its Board of Directors on their
responsibility to maintain appropriate standards of corporate
responsibility and accountability in order to achieve greater
disclosure and transparency to its shareholders and the
investing public.
CONTACT:
Lien Hoe Corporation Berhad
No 8 Persiaran Tropicana
Petaling Jaya, Selangor Darul Ehsan 47410
MALAYSIA
+60 3 7805 1331
+60 3 7805 3112
METACORP BERHAD: Annual General Meeting Set September 14
--------------------------------------------------------
Metacorp Berhad announced that the Twenty-First Annual General
Meeting of Metacorp Berhad will be held at No. 26, Jalan 2/6,
Dataran Templer, Bandar Baru Selayang, 68100 Batu Caves,
Selangor Darul Ehsan on Tuesday, 14 September 2004 at 11:30 in
the morning.
For more information, go to
http://bankrupt.com/misc/tcrap_metacorp082304.doc.
CONTACT:
Metacorp Berhad
Level 11, Wisma Inai
241 Jalan Tun Razak
50400 Kuala Lumpur, WP
Malaysia
Tel: 603-2488900/2488200
Fax: 603-2485571
MTD CAPITAL: Issues Notice of Shares Buy Back
---------------------------------------------
MTD Capital Berhad disclosed to the Bursa Malaysia Securities
Berhad the details of its shares buy back on August 20, 2004.
Date of buy back : 20/08/2004
Description of shares purchased : Ordinary shares of RM1/- each
Total number of shares purchased (units) : 30,000
Minimum price paid for each share purchased (RM) : 2.780
Maximum price paid for each share purchased (RM) : 2.790
Total consideration paid (RM) : 80,601.00
Number of shares purchased retained in treasury (units) : 30,000
Number of shares purchased which are proposed to be cancelled
(units) :
Cumulative net outstanding treasury shares as at to-date (units)
: 1,856,600
Adjusted issued capital after cancellation (no. of shares)
(units) :
CONTACT:
MTD Capital Berhad
Batu 8 Jalan Batu Caves
Batu Caves, Selangor Darul Ehsan 68100
Malaysia
Tel: +60 3 6189 9022
Tel: +60 3 6187 7898
PAN MALAYSIA: Releases Rights Issue Notice
------------------------------------------
PM Securities Sdn Berhad refers to the announcement of Pan
Malaysia Industries Berhad (PMI) dated 30 March 2004.
Pan Malaysia Industries Berhad's Abridged Prospectus dated 30
June 2003 in respect of its rights issue, the Board of Directors
of PMI had anticipated that the proceeds arising from the rights
issue would be fully utilized within 12 months from the date of
the listing of the shares on Bursa Malaysia Securities Berhad.
The said rights issue shares were listed on 20 August 2003.
As at 20 August 2004, PMI had utilized RM 134.82 million of the
proceeds of RM 137.50 million raised from the rights issue to
repay the Group's bank borrowings, as working capital of the
Group and to defray expenses relating to the Company's rights
issue and bonus issue.
On behalf of the Board of PMI, PM Securities Sdn Bhd, wishes to
announce that the Board has on 20 August 2004 resolved to
utilize the remaining proceeds amounting to RM2.68 million by 20
August 2005, which amount was earlier earmarked for repayment of
inter-company loans owing to Metrojaya Berhad.
The status on the utilization of the remaining proceeds will be
made in the Company's quarterly interim financial report and
annual report until they are fully utilized.
Cc: Securities Commission
Attn: Encik Kris Azman Abdullah
CONTACT:
Pan Malaysia Corporation Berhad
Jalan P Ramlee
Kuala Lumpur, 50250
MALAYSIA
Tel: +60 3 2141 1891
Tel: +60 3 2144 4755
This announcement is dated 20 August 2004.
RHB CAPITAL: Appoints New Director
----------------------------------
RHB Capital Berhad disclosed to the Bursa Malaysia Securities
Berhad the information on Dato' Mohd Salleh bin Hj Harun's
appointment as Director of the Company.
Date of change: 20/08/2004
Type of change: Appointment
Designation: Director
Directorate: Independent & Non Executive
Name: Dato' Mohd Salleh bin Hj Harun
Age: 60
Nationality: Malaysian
Qualifications:
1. Certified Public Accountant, Institute of Certified Public
Accountants
2. Fellow of the Institute of Bankers
Working experience and occupation:
1. Senior Accountant, Treasury of Malaysia (1971-1974)
2. Investment Manager, Aseambankers Malaysia Berhad (1974-1978)
3. General Manager, Finance, Bank Kerjasama Rakyat Malaysia
Berhad (1978-1979)
4. General Manager, Aseambankers Malaysia Berhad (1979-1988)
5. General Manager/Senior General Manager Services, Malayan
Banking Berhad (1988-1994)
6. Executive Director, Malayan Banking Berhad (1994-2000)
7. Deputy Governor, Bank Negara Malaysia (2000-2004)
Directorship of public companies (if any) : 1. Credit Guarantee
Corporation Malaysia Berhad
2. Pengurusan Danaharta Nasional Berhad
3. TITAN Petrochemicals & Polymers Berhad
4. RHB Capital Berhad (Appointed wef 20/8/2004)
5. RHB Bank Berhad (Appointed wef 20/8/2004)
Family relationship with any director and/or major shareholder
of the listed issuer: None
Details of any interest in the securities of the listed issuer
or its subsidiaries: Dato' Mohd Salleh bin Hj Harun holds 15,000
ordinary shares of RM1.00 each in RHB Capital Berhad.
CONTACT:
Rhb Capital Berhad
Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
+60 3 9287 8888
+60 3 9280 6507
TALAM CORPORATION: Purchases 85,100 Ordinary Shares on Buy Back
---------------------------------------------------------------
Talam Corporation Berhad announced the details of its shares buy
back on August 20, 2004.
Date of buy back: 20/08/2004
Description of shares purchased: Ordinary
Total number of shares purchased (units): 85,100
Minimum price paid for each share purchased (RM): 1.120
Maximum price paid for each share purchased (RM): 1.140
Total consideration paid (RM): 96,269.00
Number of shares purchased retained in treasury (units): 85,100
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date
(units): 4,963,100
Adjusted issued capital after cancellation (no. of shares)
(units):
CONTACT:
Talam Corporation Berhad
5th Floor, Wisma Talam
52 Jalan Kampung Attap
50460 Kuala Lumpur, WP
Tel no: 603-2732222
Fax no: 603-2731439
TRU-TECH HOLDINGS: Unveils 1H04 Financial Results
-------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Tru-Tech
Holdings Berhad released its unaudited quarterly report for the
financial period ended June 30, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
30/06/2004 30/06/2003 30/06/2004 30/06/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
28,292 101,376 79,675 196,666
2 Profit/(loss) before tax
-2,522 -2,473 -5,417 -6,041
3 Profit/(loss) after tax and minority interest
-2,408 -2,473 -5,304 -6,041
4 Net profit/(loss) for the period
-2,408 -2,473 -5,304 -6,041
5 Basic earnings/(loss) per shares (sen)
-5.59 -6.89 -12.31 -16.82
6 Dividend per share (sen)
0.00 0.00 0.00
AS AT END OF AS AT PRECEDING
CURRENT QUARTER FINANCIAL YEAR
END
7 Net tangible assets per share (RM)
-0.9300 -0.9600
For more information, go to
http://bankrupt.com/misc/tcrap_trutech082304.xls
WILLOWGLEN MSC: Widens 2Q04 Net Loss to MYR964,000
--------------------------------------------------
Willowglen MSC Berhad posted a net loss of MYR964,000 in the
second quarter of this year ended June 30, 2004, versus a net
loss of MYR363,000 in the same period a year earlier, according
to Reuters.
Figures are in Ringgit (MYR).
2004 2003
Revenue MYR8,496,000 MYR7,158,000
Pretax Profit (879,000) (279,000)
Net Profit (964,000) (363,000)
Earnings Per Share (0.39 Sen) (0.15 Sen)
Dividend Omitted Omitted
6 months ended June 30:
Revenue 15,591,000 12,685,000
Pretax Profit (1,014,000) (1,357,000)
Net Profit (1,216,000) (1,499,000)
Earnings Per Share (0.49 Sen) (0.61 Sen)
Dividend Omitted Omitted
($1=MYR3.80; MYR1=100 Sen)
(Figures in parentheses are losses.)
Results are based on Malaysian accounting standards and are
unaudited.
WOO HING: Unveils 1H04 Quarterly Report
---------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Woo Hing
Brothers (Malaya) Berhad released its unaudited quarterly report
for the financial period ended June 30, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
30/06/2004 30/06/2003 30/06/2004 30/06/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
0 0 0 711
2 Profit/(loss) before tax
-62 -4,134 -419 -6,521
3 Profit/(loss) after tax and minority interest
-62 -4,134 -419 -6,521
4 Net profit/(loss) for the period
-62 -4,134 -419 -6,521
5 Basic earnings/(loss) per shares (sen)
-0.40 -26.50 -2.69 -41.80
6 Dividend per share (sen)
0.00 0.00 0.00 0.00
AS AT END OF AS AT PRECEDING
CURRENT FINANCIAL YEAR
QUARTER END
7 Net tangible assets per share (RM)
-6.5500 -6.5300
For additional information, go to
http://bankrupt.com/misc/tcrap_woohing082304.xls
CONTACT:
WOO HING BROTHERS (MALAYA) BERHAD
179 Jalan Bukit Bintang
Kuala Lumpur, 55100
MALAYSIA
+60 3 2144 1233
+60 3 2142 2228
=====================
P H I L I P P I N E S
=====================
BASIC CONSOLIDATED: Appoints Omelita Taingco as New Director
------------------------------------------------------------
Omelita Taingco, Senior Vice President for fund management at
state pension fund Government Service Insurance System (GSIS),
has been elected to the Board of Directors of Basic Consolidated
Inc., Dow Jones reports.
Ms. Taingco replaces Ms. Josefina Valera, who has resigned. Ms.
Valera resigned from Basic's board to take on her new role as
GSIS Senior Vice President in charge of its general insurance
group.
CONTACT:
Basic Consolidated Inc.
6/F & 7/F, Basic Petroleum Building
104 Carlos Palanca, Jr. St.
Legaspi Village, Makati City
Tel. No: 817-8596/98
Fax No: 817-0191
E-mail Address: odv@mozcom.com
URL: http://www.basiccon.mozcom.ph
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Rizal Commercial Banking Corporation
COLLEGE ASSURANCE: Investor Set To Infuse $227-M Fresh Capital
--------------------------------------------------------------
College Assurance Plans Philippines Inc. (CAP) is getting US$227
million in new capital from a foreign investor, Business World
reports, citing Securities and Exchange Commission Chairman
Lilia R. Bautista.
CAP said that US$100 million would come from the sale of
preferred shares in the Company, while US$127 million would be
in the form of a loan. The pre-need company will reveal the name
of the investor and the particulars by next week.
Under the terms agreed upon by CAP and representatives of the
investor, CAP would assume control over US$127 million worth of
trust assets.
Among the assets that the investor will purchase are PhP3.4
billion in Metro Rail Transit bonds, as well as CAP's equity in
Fil-Estate Management Inc., Ms. Bautista said.
CAP needs to look for an investor that will put new capital into
the company. CAP earlier reported a PhP17-billion deficiency in
its trust assets. The company has only PhP8.4 billion in trust
assets, compared with an actuarial reserve liability, or
projected future obligations, of PhP25.5 billion.
CONTACT:
College Assurance Plan
CAP I Building
126 Amorsolo Cor. Herrera Streets
Legazpi Village, Makati City
Ph: 817-6586, 759-2000
Fax: (0632) 818-0560
MAYNILAD WATER: Consulting Creditors For New Rehab Plan
-------------------------------------------------------
Maynilad Water Services, Inc. is consulting with all creditors
to come up with a new rehabilitation plan, which will be
submitted to the court early next month, Business World reported
on Monday, citing court-appointed rehabilitation receiver
Rosario S. Bernaldo.
Maynilad President Fiorello Estuar did not give details of the
revised plan, which will be presented to the Quezon City
regional trial court on September 6. A hearing has been
scheduled on September 9.
In a hearing last August 6, Judge Reynaldo B. Daway gave
Maynilad 30 days to submit a revised rehabilitation plan that
will take into account the possibility that state-run
Metropolitan Waterworks and Sewerage System (MWSS) will get in
full its US$120-million performance bond.
METRO ALLIANCE: Widens 1H04 Net Loss to Php75M
----------------------------------------------
Metro Alliance Holdings and Equities Corporation reported an
unaudited consolidated net loss of Php75 million for the first
half of this year versus a net loss of Php18.8 million a year
earlier due to higher interest payments of short and long term
loans.
In a disclosure to the Philippine Stock Exchange, the Company
has various short and long term loans amounting to Php651
million and a fresh bank loan obtained last January amounting to
Php550 million.
Net sales for the first semester dropped to Php566 million as
against Php676 million in the same period last year due to the
temporary suspension of its polypropylene operations due to the
substantial increase in prices of imported raw materials and low
selling prices of polypropylene.
CONTACT:
Metro Alliance Holdings & Equities Corporation
22/F, Citibank Tower
8741 Paseo de Roxas, Makati City
Tel. No: 848-0848 loc.: 111; 126
Fax No: 848-0213
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Equitable PCI Bank, Inc.
For more information, go to
http://bankrupt.com/misc/tcrap_metroalliance082304.pdf
NATIONAL POWER: Long-term Debts Swell to Php461Bln in 2003
----------------------------------------------------------
The National Power Corporation (Napocor)'s long-term debts
ballooned to Php461 billion as of 2003 from Php376 billion a
year earlier, according to the Philippine Star. Bond payments
during the period increased to Php5.4 billion from only Php40
million in the comparative period in 2002.
In the same period, Napocor paid some Php25 billion in interest
expense as against Php18 billion in 2002. The state-run power
generation company posted a net loss of Php117 billion in 2003
compared to a loss of P34 billion a year earlier.
Last year, the company's borrowings dropped to Php3.7 billon
from Php4.7 billion the previous year. Its bond flotation
likewise decreased to Php64.3 billion from Php70 billion in
2002.
Napocor President Rogelio Murga expects to cut its expected
losses this year if the Energy Regulatory Commission (ERC) will
allow the firm to raise its generation rates by an average
Php1.85 per kilowatt-hour to Php4.09/kw across the country.
CONTACT:
National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax: +63-2921-2468
NATIONAL POWER: ERC To Decide on Rate Hike Bid by September 5
-------------------------------------------------------------
The Energy Regulatory Commission (ERC) is expected to come out
with a decision whether to give the National Power Corporation
(Napocor) a provisional authority (PA) on or before September 5
this year, the Philippine Star reports, citing ERC Chairman
Rodolfo Albano Jr.
The commission has already started the public hearing on
Napocor's petition to increase its generation rate by P1.87 per
kilowatthour (kWh). The ERC will be conducting a series of
public hearings in Cagayan de Oro and Cebu this week.
The ERC will also look into the resolution of Napocor on the
lifting of the 40-centavo cap on the company's purchased power
cost adjustment (PPCA).
The Purchased Power Cost Adjustment (PPCA) is a component of the
Fuel and Purchased Power Adjustment (FPCA). It reflects the
movements in the cost of power that NPC buys from its
Independent Power Producers (IPPs). NPC has been authorized by
the ERC to collect these charges from power distributors.
The imposition of the PPCA cap has resulted to huge losses on
the part of Napocor and created "artificial rates" which
discourage foreign investors from pouring in much-needed capital
in the power sector.
NEGROS NAVIGATION: Clarifies Manila Times Report
------------------------------------------------
This is in reference to the news article entitled "Another
Nenaco service provider demands payment for debts" published in
the August 19, 2004 issue of the Manila Times (Internet
Edition).
The article reported, " A Creditor of Negros Navigation Co. has
asked the court for the immediate payment of its outstanding
obligation incurred after the court issued its stay order.
According to creditor Movant Banago Port & Stevedoring Inc. the
debt-ridden Nenaco incurred an additional P1.5-million unpaid
balances for cargo-handling services rendered on Nenaco vessels
since April 1, which was when the local court hearing Nenaco's
rehabilitation case issued the stay order. In a three-page
motion submitted to the Manila Regional Trial Court, Movant BPS
said Nenaco `is mandated and may be compelled by motion to
maintain current its financial obligations to its suppliers of
goods and services after the issuance of the aforementioned stay
order."
Negros Navigation Co., Inc. (NN), in its letter to the Exchange
dated August 23, 2004, disclosed that:
" To date, we have not yet received a copy of the `three-page
motion' that Banago Stevedoring, Inc. allegedly filed with the
Regional Trial Court of Manila. Thus, we cannot confirm any
report regarding the same.
For your information,
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President - Operations Group
PHILIPPINE LONG: Issues Additional Listing of Shares
----------------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone
Company 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 2,750
common shares have been availed of and fully paid by the
optionees under the Company's ESOP. In view thereof, the listing
of the 2,750 common shares is set for Tuesday, August 24, 2004.
This brings the number of common shares listed under the ESOP to
a total of 189,516 common shares.
The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.
For your information and guidance.
(Original Signed)
MARIA ISABEL T. GARCIA
Head, Listings Department
Noted by:
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President- Operations Group
PHILIPPINE REALTY: Issues Rehab Plan Update
-------------------------------------------
Philippine Realty & Holdings Corporation issued an update on the
status of the Company's court-approved rehabilitation plan.
In a disclosure to the Philippine Stock Exchange, the Company
announced that only Metrobank has filed a notice of appeal as
previously reported. The other creditor banks namely Land Bank,
Prudential Bank and Export Bank, have to-date not filed any
notice of appeal.
This being the case, the Company is coordinating with the banks
concerned for the execution of the court's decision. It shall
shortly be filing a motion for execution with the court.
Truly Yours,
Amador C. Bacani
PRHC President
CONTACT:
Philippine Realty & Holdings Corporation
3F, Magnitude Bldg., I 86 P. Rodriguez Jr. Avenue
Brgy. Bagumbayan, Quezon City
Telephone Nos. (632) 631-3179 to 80; 631-8579 to 80
Fax No. (632) 634-1504
UNIVERSAL RIGHTFIELD: Clarifies "Investors Go After DMCI" Report
----------------------------------------------------------------
This is in reference to the news article entitled "Universal
Leisure Corporation investors go after DMCI" published in the
August 17, 2004 issue of the BusinessWorld (Internet Edition).
The article reported, "Investors of Universal Leisure Corp.
(ULC), the leisure company ordered closed by the Securities and
Exchange Commission (SEC), are threatening to go after the
assets of DM Consunji Holdings Inc. (DMCI). This was after SEC
ordered the return of their investments in ULC. Investors have
claimed that DMCI had defrauded them of some PhP2 billion
through its sale of shares in Universal Leisure Club Inc. and
other properties developed by ULC. The minority had asked SEC to
investigate the allegedly massive fraud perpetuated by ULC and
its parent company, publicly listed Universal Rightfield
Holdings Inc., which allegedly failed to deliver on their
promises to investors. The minority also asked SEC to order
Universal Leisure Club, Inc. to return their investments in the
club. It accused DMCI of being the brains behind the alleged
fraud because ULC's mother company, Universal Rightfield, was
founded by DMCI. `Mr. [Isidro] Consunji, who is the Chairman of
the board of ULC and the President of DMCI, is bound to return
the amount to the investing public. Last month, SEC ordered
Universal Leisure Club. Inc. to refund its investors. It also
revoked the company's permit to sell securities. She also said
Universal Leisure Club incurred losses of PhP446 million for
developments that were not made, while dissipation, including
underwriting commissions and `missing' investments, totaled
PhP2.1 billion. She also said the ULC minority would file a
criminal case of syndicated estafa and violation of tax laws
against DMCI."
Universal Rightfield Property Holdings, Inc. (UP), in a letter
to the Philippine Stock Exchange dated August 23, 2004,
disclosed that:
1. On the newspaper article entitled `Universal Leisure Corp.
Investors go after DMCI' published in the August 17, 2004 issue
of the BusinessWorld (Internet Edition), kindly note the
following:
a. The SEC ordered the revocation of the registration and permit
to sell of Universal Leisure Club, Inc. and ordered it to return
payments made for the purchase of the securities. This order by
the SEC is presently under Motion for Reconsideration;
b. Universal Leisure Corp. was not ordered close (sic) by the
SEC as stated in the first paragraph of said article;
c. On allegations of massive fraud, these remain mere
allegations and the company has taken legal steps regarding the
same;
d. The SEC order did not include any statements regarding DMCI;
e. URPHI was not founded by DMCI, as the corporate records will
show that the company was a result of a merger between
Rightfield Property Ventures, Inc. and Universal Petroleum
Exploration, Inc.;
f. With respect to the other statements alluding to DMCI, the
Corporation is not in the position to make any statements
regarding the same, as it should be properly directed to the
company concerned;
g. With respect to the other items in the article, we cannot
confirm the veracity of the same, as it appears to be planned
courses of actions by the author thereof.
2. With regard to the Corporation's suspended Registration of
Securities and Permit to Sell Securities to the Public, we are
currently completing the requirements and other conditions
necessary for the lifting of said suspension order.
3. The Petition for Corporate Rehabilitation filed by DMCI to
rehabilitate the Corporation is still pending before the new
rehabilitation court, Branch 211 of the Regional Trial Court of
Mandaluyong City. Creditors of the Corporation have filed their
respective comments. A hearing has been set on August 20,
2004.
4. The SEC has issued related orders in connection with the
license to sell securities of Universal Leisure Club, Inc.
namely dated June 28, and July 22, 2004. The Club has filed a
Motion for Reconsideration and Supplement thereto questioning
the jurisdiction of the SEC in issuing said order."
For your information.
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President - Operations Group
CONTACT:
Universal Rightfield Holdings Inc.
Unit 713-714 Pioneer Corporate Center
Pioneer Highlands, Pioneer St.
Corner Madison St., Mandaluyong City
Telephone No/s: 637-0977 to 82
Fax No/s: 637-2437
Email Address: urphi@pworld.net.ph
=================
S I N G A P O R E
=================
CHAI SOON: Preferential Dividend Notice Issued
----------------------------------------------
In the matter of Chai Soon Heng Builders Pte. Ltd., a notice of
preferential dividend was issued last August 20, 2004.
Address of Registered Office: Formerly of 46 Zion Road
Singapore 247777.
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 600146 of 2001.
Amount Per Centum: 20.2%.
First and Final or otherwise: First & Final Dividend.
When Payable: 11th August 2004.
Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Dated: 20th August 2004.
Sunari Bin Kateni
Assistant Official Receiver.
I.R.E. CORPORATION: Goh Chee Whui's Interest Changes
----------------------------------------------------
I.R.E. Corporation Limited has issued a Notice Of a Change in
the Percentage Level of a Director's Interest.
PART I
(1) Date of notice to issuer: August 20, 2004
(2) Name Of Director: GOH CHEE WHUI
(3) Please tick one or more appropriate box(es):
x a Director's (including a director who is a substantial
shareholder) Interest and Change in Interest. [Please complete
Parts II and IV]
PART II
(1) Date of change of interest: August 18, 2004
(2) Name of Registered Holder: Goh Chee Whui
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Percentage change due to conversion of
debts of S$74,903,820 owed by the Company and its subsidiaries
into 2,518,730,000 shares in the share capital of the Company,
resulting in an enlarged and paid-up share capital of
2,679,073,123 shares.
4. Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change: 218,750
As a percentage of issued share capital: 0.14
No. of shares which are the subject of this notice: 218,750
As a percentage of issued share capital: 0.14
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: NA
No. of shares held after the change: 218,750
As a percentage of issued share capital: 0.008
PART III
(1) Date of change of interest:
(2) The change in the percentage level: From % to %
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
PART IV
(1) Holdings of Director, including direct and deemed interest:
- Direct Deemed
No. of shares held before change: 218,750 0
% of issued share capital: 0.14 0
-
No. of shares held after change: 218,750 0
% of issued share capital: 0.008 0
Submitted by Michael Tay Kwang How, Company Secretary on August
20, 2004 to the Singapore Stock Exchange.
I.R.E. CORPORATION: Posts Change in Directors' Interest
-------------------------------------------------------
I.R.E. Corporation Limited issued a Notice Of a Change in the
Percentage Level of a Director's Interest.
PART I
(1) Date of notice to issuer: August 20, 2004.
(2) Name of Director: Goh Kaw Kern @ Goh Kwang Chay
(3) Please tick one or more appropriate box(es):
x a Director's (including a director who is a substantial
shareholder) Interest and Change in Interest. [Please complete
Parts II and IV]
PART II
(1) Date of change of interest: August 18, 2004
(2) Name of Registered Holder: Goh Kaw Kern @ Goh Kwang Chay
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Percentage change due to conversion of
debts of S$74,903,820 owed by the Company and its subsidiaries
into 2,518,730,000 shares in the share capital of the Company,
resulting in an enlarged and paid-up share capital of
2,679,073,123 shares.
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change: 218,750
As a percentage of issued share capital: 0.14
No. of shares which are the subject of this notice: 218,750
As a percentage of issued share capital: 0.14
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: NA
No. of shares held after the change: 218,750
As a percentage of issued share capital: 0.008
PART III
(1) Date of change of interest:
92) The change in the percentage level: From % to %
93) Circumstance(s) giving rise to the interest or change in
interest:
4. A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
PART IV
(1) Holdings of Director, including direct and deemed interest:
- Direct Deemed
No. of shares held before change: 218,750 0
% of issued share capital: 0.14 0
-
No. of shares held after change: 218,750 0
% of issued share capital: 0.008 0
Submitted by Michael Tay Kwang How, Company Secretary on August
20, 2004 to the Singapore Stock Exchange.
I.R.E. CORPORATION: Yenom Holdings Interest Ceases
--------------------------------------------------
I.R.E. Corporation Limited, on August 20, released a Notice Of
Cessation Of Substantial Shareholding to the Singapore Stock
Exchange.
PART I
(1) Date of notice to issuer: August 20, 2004
(2) Name of Substantial Shareholder: YENOM HOLDINGS PTE LTD
(3) Please tick one or more appropriate box(es):
x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. [Please
complete Parts III and IV]
PART II
(1) Date of change of interest:
(2) Name of Registered Holder:
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change:
As a percentage of issued share capital:
No. of shares which are the subject of this notice:
As a percentage of issued share capital:
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:
No. of shares held after the change:
As a percentage of issued share capital:
PART III
(1) Date of change of interest: August 18, 2004
(2) The change in the percentage level: From 12.1% to 3.17%
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Debt conversion exercise pursuant to
which the debt of S$2,294,075 owed by the Company to Yenom
Holdings Pte Ltd were converted into 65,545,000 shares of S$0.01
each in the capital of the Company.
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
The result of the above transaction.
PART IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
- Direct Deemed
No. of shares held before change: 19,409,074 0
% of issued share capital: 12.1 0
-
No. of shares held after change: 84,954,074 0
% of issued share capital: 3.17 0
I.R.E. CORPORATION: Notes Change in Nipsea Private Interest
-----------------------------------------------------------
I.R.E. Corporation Limited, on August 20, issued a Notice Of a
Substantial Shareholder's Interest to the Singapore Stock
Exchange.
PART I
(1) Date of notice to issuer: August 20, 2004
(2) Name of Substantial Shareholder: NIPSEA PTE LTD
(3) Please tick one or more appropriate box(es):
x a New Substantial Shareholder's Interest. [Please complete
Parts II and IV]
PART II
(1) Date of change of interest: August 18, 2004
(2). Name of Registered Holder: NIPPON PAINT (H.K.) CO., LTD
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Debt conversion exercise pursuant to
which the debt of S$4,769,870 owed by the Company to Nippon
Paint (H.K.) Co., Ltd were converted into 136,282,000 shares of
S$0.01 each in the capital of the Company.
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change: 0
As a percentage of issued share capital: 0
No. of shares which are the subject of this notice: 136,282,000
As a percentage of issued share capital: 5.09
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: $0.035 per share
(conversion of debt of S$4,769,870 to the above shares)
No. of shares held after the change: 136,282,000
As a percentage of issued share capital: 5.09
PART III
(1) Date of change of interest:
(2) The change in the percentage level: From % to %
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
PART IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
- Direct Deemed
No. of shares held before change: 0 0
% of issued share capital: 0 0
-
No. of shares held after change: 0 136,282,000
% of issued share capital: 0 5.09
Note : Nipsea Pte Ltd is deemed to be interested in the shares
held by Nippon Paint (H.K.) Co., Ltd by virtue of Section 7 of
the Companies Act, Cap 50.
KIM HUAT: Court Issues Preferential Dividend Notice
---------------------------------------------------
In the matter of Kim Huat Tropical Products Pte Ltd., a notice
of intended preferential dividend notice was issued last August
20, 2004.
Address of Registered Office: Formerly of 166 Woodlands Street
13 #01-537 Singapore 730166.
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 186 of 1999.
Last Day for Receiving Proofs: 3rd September 2004.
Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Dated: 20th August 2004.
Sunari Bin Kateni
Assistant Official Receiver.
KWAI HAI: Court Issues Notice of Intended Dividend
--------------------------------------------------
In the matter of Kwai Hai Development Pte Ltd., the court has
issued a notice of intended dividend last August 20, 2004.
Address of Registered Office: Formerly of 65 Chulia Street
#43-08 OCBC Center
Singapore 049513
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 18 of 1999.
Last Day for Receiving Proofs: 3rd September 2004.
Name & Address of Liquidator: The Official Receiver
The URA Center (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Dated: 20th August 2004.
Kamala Ponnampalam
Assistant Official Receiver.
LOCHTA SERVICES: Court Issues Preferential Dividend Notice
----------------------------------------------------------
In the matter of Lochta Services Pte. Ltd., a notice for
intended preferential dividend was issued last August 20, 2004.
Address of Registered Office: Formerly of 60A Martin Road, Blk B
#07-01 Singapore Warehouse Singapore 239066.
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 163 of 1992.
Last Day for Receiving Proofs: 3rd September 2004.
Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Dated: 20th August 2004.
Karen Loh
Assistant Official Receiver.
TOLL MILL: Court Issues Dividend Notice
---------------------------------------
In the matter of Toll Mill Pte. Ltd., formerly known as Urban
Engineers Pte. Ltd., a notice of preferential dividend was
issued last August 20, 2004.
Address of Registered Office: Formerly of 32 Tuas Ave 9 Jurong
Town Singapore 639184.
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 57 of 1993.
Amount Per Centum: Preferential (66.53)%.
First and Final or otherwise: First & Final Dividend.
When Payable: 28th July 2004.
Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Dated: 20th August 2004.
CHAN WANG HO
Assistant Official Receiver.
===============
T H A I L A N D
===============
ABICO HOLDINGS: NR Sign Posted On Securities
--------------------------------------------
The Stock Exchange of Thailand (SET) has posted an NR (Notice
received) sign on the securities of ABICO Holdings PCL effective
from the first trading session of 20 August 2004 to announce
that the SET has received the SEC's conclusion that it is not
necessary to amend ABICO 's financial statements on the issues
so stated by the company's auditor.
However, the SET has still suspended trading on the securities
of ABICO because the Company must prepare a rehabilitation plan.
Previously, the SET posted an NP (Notice pending) sign
on ABICO Holdings PCL (ABICO) effective from the first trading
session of 17 August 2004. This is because the company's
auditor was not able to reach a conclusion on the reviewed
financial statements for the period ending 30 June 2004 as
submitted to the SET and the exchange was waiting for the SEC'S
conclusion on this matter.
CONTACT:
ABICO HOLDINGS PCL
ABICO TOWER, FLOOR 5, 401/1 MOO 8,
PHAHOLYOTHIN ROAD LAM LUK KA Pathum Thani
Telephone: 0-2992-5858 (14 Lines)
Fax: 0-2992-5878-9
Website: www.abicogroup.com
ASIA HOTEL: SEC Concludes Financials Need No Amendment
------------------------------------------------------
The Stock Exchange of Thailand posted an NR sign (Notice
received) against the securities of Asia Hotel PCL effective
from the first session 18 August 2004 to announce that the SET
has received the Securities and Exchange Commission's (SEC)
conclusion that it is not necessary to amend their financial
statements on the issues so stated by the company's auditor.
However, the SET has still suspended trading on the securities
of Asia Hotel because it must prepare a rehabilitation plan.
Previously, the SET posted the NP (Notice pending) sign on the
company effective from the first session 18 August 2004. This
is because in the Company's reviewed financial statements for
the period ending 30 June 2004 as submitted to the SET, the
company's auditors were unable to reach any conclusion on the
financial statements and the SET was waiting for the SEC'S
conclusion on this matter.
CONTACT:
ASIA HOTEL PUBLIC COMPANY LIMITED
296 PHAYATHAI ROAD, PHAYA THAI Bangkok
Telephone: 0-2215-0808
Fax: 0-2215-4360
Website: www.asiahotel.co.th
BANGKOK RUBBER: SET Posts NR Sign on Securities
-----------------------------------------------
This is with reference to the NP (Notice Pending) sign posted
against the securities of Bangkok Rubber PCL (BRC) effective
from the first trading session of 17 August 2004 because BRC has
publicly submitted to the Stock Exchange of Thailand (SET) its
reviewed financial statement for the second quarter ending 30
June 2004 with the inability to reach any conclusion on its
financial statement and the conclusion regarding the amendment
is pending.
Presently, The Securities and Exchange Commission (SEC) has now
informed the SET that it is not necessary to amend the captioned
financial statements on the issue that the auditor has stated.
Therefore, NR (Notice Received) sign is posted on securities of
BRC effective from the first trading session of 18 August 2004
to announce that the SET has received the conclusion from the
SEC.
Nevertheless, the SET has still suspended trading on its
securities until the causes of de-listing are eliminated.
CONTACT:
BANGKOK RUBBER PUBLIC COMPANY LIMITED
611/40 SOI RAJ-UTIT 2, BANGKHLO, YAN NAWA Bangkok
Telephone: 0-2689-9500
Fax: 0-2291-1353
Website: www.pan-group.com
BANGKOK STEEL: Informs SET on Schedule of FS Submission
-------------------------------------------------------
As Pipat & Associates sent the letter dated July 27, 2004
informing the Stock Exchange of Thailand (SET) regarding the
resignation of Mr. Pipat Busayanonda as Bangkok Steel Industry
PCL's authorized auditor, which resulted to an unaudited
financial statement of the company.
The company approached Mr. Anurak Leelapiyamitr of BDO Rich
Field to be its auditor to review the consolidated financial
statements of the 2nd and 3rd quarters as well as the audit of
the yearly financial statement of 2004.
As a result, the company sent the letter dated August 9, 2004 to
the Securities and Exchange Commission (SEC) asking for the
permission to postpone the submission of the FS from August 16,
2004 to September 15, 2004. Therefore, the SEC has allowed
Bangkok Steel to submit the said FS within September 15, 2004 as
requested by the company.
Please be informed accordingly.
Yours sincerely
Economic Intellect Co., Ltd.
C.J. Morgan Co., Ltd.
Planner
CONTACT:
BANGKOK STEEL INDUSTRY PUBLIC COMPANY LIMITED
UNITED FLOUR MILL BLDG,
205 RAJAWONG ROAD,
SAMPHANTHAWONG Bangkok
Telephone: 0-2226-0088, 0-2226-0680, 0-2226-6120-29
Fax: 0-2224-7698, 0-2222-7497
Website: www.bangkoksteel.co.th
CENTRAL PAPER: SET Posts NR Sign On Securities
----------------------------------------------
The Stock Exchange of Thailand (SET) has posted an NR (Notice
received) sign on the securities of Central Paper Industry PCL
effective from the first session 18 August 2004 to announce that
the SET has received the SEC's conclusion that it is not
necessary to amend its financial statements on the issues so
stated by the company's auditor.
However, the SET has still suspended trading on the securities
of those companies because they must prepare a rehabilitation
plan.
Previously, the SET posted an NP (Notice pending) sign on
Bangkok Steel effective from the first session 18 August 2004,
because in the Company's reviewed financial statements for the
period ending 30 June 2004 as submitted to the SET, the
companies' auditors were unable to reach any conclusion on the
financial statements and the SET was waiting for the SEC'S
conclusion on this matter.
CONTACT:
CENTRAL PAPER INDUSTRY PUBLIC COMPANY LIMITED
40 MOO 13 SUKHAPHIBAN 6 ROAD,
PHRA PRA DAENG Samut Prakarn
Telephone: 0-2383-0257-70
Fax: 0-2383-0208-9
EASTERN WIRE: Releases Report Form to SET on Shares Sale Result
---------------------------------------------------------------
Eastern Wire PCL furnished the Stock Exchange of Thailand a copy
of the Form of Report on the Results of the Sale of Shares.
Name of Company: Eastern Wire Public Company Limited
Date: August 18, 2004
(1) Information relating to the share offering
Category of shares offered: Ordinary share
Number of shares offered: 6,063,256 shares
Offered to: Asset Billion Co., Ltd
Price per share: THB10
Subscription and payment period: August 17, 2004
(2) Results of the sale of shares:
[?] Totally sold out
[ ] Partly sold out, with---shares remaining.
The company will deal with the remaining shares as:
(3) Details of the sale
Thai investors Foreign investors
Juristic Natural Juristic Natural Total
Persons persons persons persons
Number of persons 1------ 1
Number of shares 6,063,256------ 6,063,256
subscribed
Percentage of total shares 100%------ 100%
offered for sale
(4) Amount of money received from the sale of shares
Total amount: THB60,632,560
Net amount received: THB60,632,560
The company hereby certifies that the information contained in
this report is true and complete in all respects.
(Mr.Pirom Priyawat)
Authorized Director
(Mr.Sontaya Noicharoen )
Authorized 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
EASTERN WIRE: Securities Granted By The SET
-------------------------------------------
Starting from 23 August 2004, the Stock Exchange of Thailand
(SET) allowed the common shares of Eastern Wire Public Company
Limited (EWC) to be listed on the SET after finishing capital
registered procedures.
However, EWC is a listed company in REHABCO sector; therefore,
the SET still suspends trading on all securities of EWC.
Name: EWC
Issued and Paid up Capital (par value 10 Baht per share)
Old: 279,367,440 Baht
New: 340,000,000 Baht
Allocate to: Asset Billion Co., Ltd. totaling 6,063,256 common
shares
Price per share: 10 Baht
Subcription and payment period: 17 August 2004
INTER FAR: Submits Explanation and Financial Status Analysis
------------------------------------------------------------
Whereas Inter Far East Engineering PCL would like to submit the
explanation and financial status analysis for the first 6 months
period of the year 2004, along with the changing financial
status and the work performance in substantial details as:
The financial status
(1) Assets
The company has a total asset as of June 30, 2004 the amount of
THB708.33 million, a decrease from the year 2003 of THB385.82
million or 35 percent. Such decrease in asset is from the
amount of cash and the cash equivalent items that has been paid
for the yearly principal liabilities.
The time for debt payment according to the condition of the debt
burden under the business restructuring plan was approved by the
court on May 3, 2004. The payment of the total yearly principal
liabilities has been made before the due date of principal
repayment for the amount of THB377 million on March 3, 2004.
Besides, the remaining goods also decreased from the year 2003
for THB9.15 million or 7 percent.
(2) Liabilities
The company has a total liability as of June 30, 2004 of
THB1,090.49 million, decreased from the year 2003 of THB522.69
million, or 32 percent. The decrease arises from the payment of
yearly principal liabilities, (as mentioned in the asset
section).
(3) The Shareholders Section
The shareholders section (loss over capital) as of June 30, 2004
for the amount of THB382.16 million, a decrease of THB136.87
million or 26 percent, which results from the net profit of the
first 6 months period of the year 2004, for the amount of
THB137.01 million.
The result of the work performance
In the 6 months period of the year 2003, the company has a net
profit of THB61.95 million, compared with the profit in the 6
months period of the year 2004 of THB137.01 million, the
increase in profit is THB75.06 million, owing to the decrease of
the sales and administration expense for THB2.86 million, which
is equal to 4 percent.
Besides, the profit from the restructuring of debts increases
from the 6 months period of the year 2003 for the amount of
THB90.17 million, which arises from the payment of yearly
principal liabilities before the due date of business
restructuring period. The result is that the burden of interest
to be paid by the company in the future decreases for THB93
million.
The company has also recorded the decrease debt burden as the
profit from the debt restructuring.
Please be informed accordingly
Sincerely yours,
(Mr.Sukhato Poummalee, Mr. Damri Aimmanoj)
Plan Administrator
CONTACT:
INTER FAR EAST ENGINEERING PCL
29 SOI JITRANUKHROH,
RAMKHAMHAENG 22 ROAD, BANG KAPI Bangkok
Telephone: 0-2318-3272
Fax: 0-2318-0574
Website: www.ifct.co.th
INTER FAR: Releases Explanation of Work Performance for 1H
----------------------------------------------------------
In the 6 months period of 2004, Inter Far East Engineering PCL
has a net profit of THB137.01 million, while the net profit in
the 6 months period of 2003 was THB61.95 million, which has
increased to THB75.06 million, a 121 percent increase.
The outcome of sales and service expense decreased for THB2.86
million. The company also has a profit from the restructuring
of debts for the amount of THB93 million, which arises from the
payment of yearly principal liability before the due date.
So, the burden of interest for yearly principal to be paid by
the company in the future is considered the profit from the
restructuring of total debts.
Please be informed accordingly.
Sincerely yours,
(Mr. Damri Aimmanoj, Mr.Sukhato Poummalee)
Plan Administrator
MDX: SEC Concludes FS No Necessary Amendments
---------------------------------------------
Pursuant to posting an SP (Suspension) sign against MDX PCL
since the first trading session on August 17,2004 because the
listed companies' auditor reported their inability to reach any
conclusion on it's first quarterly reviewed financial statements
as of June 30, 2004.
Presently, the Securities and Exchange Commission (SET) has
received the conclusion from the Securities and Exchange
Commission (SEC) that it is not necessary to amend the captioned
financial statements on the issue that the auditor has stated.
Nevertheless, the SET still suspends trading of its securities
until the causes of de-listing are eliminated.
CONTACT:
M.D.X. PUBLIC COMPANY LIMITED
NAILERT TOWER, FLOOR 7, 10,2/4 WIRELESS ROAD,
LUMPINI, PATHUM WAN, Bangkok
Telephone: 0-2253-0428-36, 0-2267-9071
Fax: 0-2253-0427, 0-2253-2731
NAKORNTHAI STRIP: Unveils Resignation of Director
-------------------------------------------------
Maharaj Planner Company Limited In its capacity as the Plan
Administrator of Nakornthai Strip Mill Public Company Limited
would like to inform the Stock Exchange of Thailand that Mr.
Veerachai Mekworawut (Director) has resigned from Nakornthai
Strip Mill Public Company. The resignation has been effective
since August 1, 2004.
Please be informed and disseminate the above accordingly.
Yours Sincerely,
(Mr. Sawasdi Horrungruang)
Director
Maharaj Planner Company Limited
as the plan Administrator of
Nakornthai Strip Mill Public Company Limited
CONTACT:
NAKORNTHAI STRIP MILL PUBLIC COMPANY LIMITED
U.M. TOWER, FLOOR 19,
9 RAMKHAMHAENG ROAD,
SUAN LUANG, Bangkok
Telephone: 0-2719-9800-9, 0-2719-9830-2
Fax: 0-2719-9828
NFC FERTILIZER: NR Sign Posted on Securities
--------------------------------------------
The Stock Exchange of Thailand (SET) posted an NR (Notice
received) sign on the securities of NFC Fertilizer PCL effective
from the first session 18 August 2004 to announce that the SET
has received the Securities and Exchange Commission's (SEC)
conclusion that it is not necessary to amend its financial
statements on the issues so stated by the company's auditor.
However, the SET has still suspended trading on the securities
of those companies because they must prepare a rehabilitation
plan.
Previously, the SET had posted an NP (Notice pending) sign on
NFC effective from the first session 18 August 2004 this is
because in the Company's reviewed financial statements for the
period ending 30 June 2004 as submitted to the SET, the
company's auditors were unable to reach any conclusion on the
financial statements and the SET was waiting for the SEC'S
conclusion on this matter.
CONTACT:
NFC FERTILIZER PCL
LAOPENGNGUAN BLDG 1, FLOOR 17-19,
333 VIBHAVADI RANGSIT ROAD,
CHATU CHAK, Bangkok
Telephone: 0-2618-8100
Fax: 0-2618-8200
Website: www.nfc.co.th
PREMIER ENTERPRISE: SEC Concludes FS Amendment Not Necessary
------------------------------------------------------------
Pursuant to posting an SP (Suspension) sign against Premier
Enterprise PCL since the first trading session on August 17,2004
because the listed company's auditor reported its inability to
reach any conclusion on its first quarterly reviewed financial
statements as of June 30, 2004.
Presently, the Stock Exchange of Thailand (SET) has received the
conclusion from The Securities and Exchange Commission (SEC)
that it is not necessary to amend the captioned financial
statements on the issue that the auditor has stated.
Nevertheless, the SET has still suspended the trading of its
securities until the causes of de-listing are eliminated.
CONTACT:
PREMIER ENTERPRISE PCL
PREMIER CORPORATED PARK BLDG,
1 SOI PREMIER, SINAKHARIN RD, NONG BON, PRAWET Bangkok
Telephone: 0-2301-1000, 0-2398-0029
Fax: 0-2398-2350, 0-2398-0701
PREMIER ENTERPRISE: Decreases Registered and Paid Up Capital
------------------------------------------------------------
Premier Planner Company Limited, as the Plan Administrator of
Premier Enterprise PCL would like to inform the Stock Exchange
of Thailand (SET) that it has already arranged for the decrease
of its paid up capital from THB3,439,251,230 to THB3,436,132,540
with the Department of Business Development, Ministry of
Commerce since 16 August 2004.
In addition, the decrease of paid up the capital above has
resulted from the decrease of the issuance of shares given to a
creditor in the number of 311,869 shares in relation to the
conversion of debt to equity.
The decrease of the issuing shares above due to the official
receiver's grant of an order to such creditor for receiving the
debt repayment less than the number of debt which the creditor
has requested in the application of the debt repayment.
For your kind acknowledgement
Yours faithfully,
(Mrs. Duangthip Eamrungroj, Mr.Teerapol Juthapornpong)
Premier Planner Company Limited
As the Plan Administrator of
Premier Enterprise PCL
* BOND PRICING: For the Week 23 August to 27 August 2004
--------------------------------------------------------
Issuer Coupon Maturity Price
------ ------ -------- -----
AUSTRALIA
---------
Advantage Group 10.000% 4/15/06 1
Amcom Telecommunications Ltd 10.000% 10/28/07 2
Amity Oil Ltd. 10.000% 10/31/13 2
APN News & Media Ltd 7.250% 10/31/08 5
Austrim National Radiation Ltd. 9.500% 10/31/04 49
BIL Finance Ltd 8.000% 10/15/07 9
BIL Finance Ltd 8.250% 10/15/04 10
BIL Finance Ltd 8.750% 10/15/04 10
BIL Finance Ltd 8.750% 10/15/05 9
BIL Finance Ltd 9.000% 10/15/04 9
BIL Finance Ltd 9.250% 10/15/06 9
BIL Finance Ltd 10.000% 10/15/04 9
Capital Properties NZ Ltd 8.500% 4/15/05 8
Capital Properties NZ Ltd 8.500% 4/15/07 8
Capital Properties NZ Ltd 8.500% 4/15/09 9
Citigold Corp. 12.000% 3/29/07 1
Consolidated Minerals Ltd 11.250% 3/31/05 2
Djerriwarrh Investments Ltd 6.500% 9/30/09 4
Djerriwarrh Investments Ltd 7.500% 9/30/04 4
Evans & Tate Ltd 8.250% 10/29/07 1
Fletcher Building Ltd 7.800% 3/15/09 8
Fletcher Building Ltd 7.900% 10/31/06 8
Fletcher Building Ltd 8.300% 10/31/06 8
Fletcher Building Ltd 8.600% 3/15/08 8
Fletcher Building Ltd 8.750% 3/15/06 8
Fletcher Building Ltd 8.850% 3/15/10 8
Fletcher Building Ltd 10.500% 4/30/05 8
Fernz Corp Ltd 8.560% 10/15/06 8
Futuris Corporation Ltd 7.000% 12/31/07 2
Hy-Fi Securities Ltd 7.000% 8/15/08 8
Hy-Fi Securities Ltd 8.750% 8/15/08 12
Hutchison Telecoms Australia 5.500% 7/12/07 1
Infrastructure and Utility 8.500% 9/15/13 8
Minerals Corporation 11.500% 9/30 04 1
New South Wales Treasury Corporation 0.500% 2/16/10 75
NPT Capital Ltd 9.500% 11/30/04 9
Nuplex Industries Ltd 9.300% 9/15/07 8
Powerco Ltd 8.150% 9/1/07 8
Powerco Ltd 8.400% 5/22/07 8
Queensland Treasury Corporation 0.500% 5/19/10 74
Richmond Ltd 10.750% 12/15/04 10
Salomon Smith Barney Australia 4.250% 2/1/09 9
Sapphire Securities 7.410% 9/20/35 7
Sapphire Securities 9.160% 9/20/35 9
Sapphire Securities 9.250% 12/20/06 9
Sydney Gas Company 12.000% 4/1/06 1
Sky Network Television Ltd 9.300% 10/29/49 8
Strathfield Group 11.000% 12/31/05 1
Structural Systems Ltd 11.000% 6/30/07 1
Tower Finance Ltd 8.650% 10/15/09 9
Tower Finance Ltd 8.750% 10/15/07 8
TrustPower Ltd 8.300% 9/15/07 8
TrustPower Ltd 8.500% 9/15/12 8
Urbus Properties Ltd 9.250% 3/10/07 1
Vision Systems Ltd 9.000% 12/15/08 2
CHINA
-----
China Government Bond 2.600% 9/20/17 74
China Government Bond 2.900% 5/24/32 63
China Government Bond 3.400% 4/17/23 75
KOREA
-----
Korea Electric Power Corporation 7.950% 4/1/96 60
MALAYSIA
--------
Asian Pac Holdings Bhd 4.000% 12/22/05 1
Artwright Holdings Bhd 5.500% 3/05/07 1
Berjaya Group Bhd 5.000% 10/17/09 1
Berjaya Land Bhd 5.000% 12/30/09 1
Berjaya Sports Toto Bhd 8.000% 8/04/12 3
Camerlin Group Bhd 5.500% 7/15/07 1
Crescendo Corporation Bhd 3.000% 8/25/07 1
Crest Builder Holdings Bhd 1.000% 2/25/08 1
Dataprep Holdings Bhd 4.000% 8/5/05 1
Dataprep Holdings Bhd 4.000% 8/6/07 1
Eden Enterprises (M) Bhd 2.500% 12/2/07 1
Fountain View Development Sdn Bhd 3.500% 11/3/06 5
Furqan Business Organization 2.000% 12/19/05 1
Gadang Holdings Bhd 2.000% 12/24/08 2
Grand Central Enterprises Bhd 5.000% 2/17/05 1
Greatpac Holdings Bhd 2.000% 12/11/08 1
Gula Perak Bhd 6.000% 4/23/08 1
Hong Leong Industries Bhd 4.000% 6/28/07 1
I-Bhd 5.000% 4/30/07 1
Insas Bhd 8.000% 4/19/09 1
Integrax Bhd 3.000% 12/24/05 1
Killinghall Bhd 5.000% 4/13/09 1
Kretam Holdings Bhd 1.000% 8/10/10 1
Kumpulan Emas Bhd 7.000% 11/15/04 1
Kumpulan Jetson 5.000% 11/28/12 1
LBS Bina Group Bhd 4.000% 12/31/06 1
LBS Bina Group Bhd 4.000% 12/31/07 1
LBS Bina Group Bhd 4.000% 12/31/08 1
Lebar Daun Bhd 2.000% 1/6/07 4
Lion Diversified Holdings Bhd 2.000% 6/1/09 1
Media Prima Bhd 2.000% 7/18/08 1
Mithril Bhd 3.000% 4/5/12 1
Mithril Bhd 8.000% 4/5/09 1
Mutiara Goodyear Development Bhd 2.500% 1/15/07 1
MWE Holdings 5.500% 10/7/04 1
Naim Indah Corporation 0.500% 8/24/06 1
NAM Fatt Corporation Bhd 2.000% 6/24/11 1
Orlando Holdings Bhd 3.000% 3/16/05 1
OSK Holdings Bhd 3.500% 3/1/05 1
OSK Holdings Bhd 6.000% 3/1/05 1
Pantai Holdings 5.000% 3/28/07 1
Patimas Computer Bhd 6.000% 2/19/06 1
Poh Kong Holdings 3.000% 1/20/07 1
Prinsiptek Corporation Bhd 2.000% 11/20/06 1
Puncak Niaga Holdings Bhd 2.500% 11/20/16 1
POS Malaysia & Services Holdings Bhd 8.000% 11/26/04 1
Rashid Hussain Bhd 0.500% 12/23/12 1
Rashid Hussain Bhd 3.000% 12/23/12 1
Rhythm Consolidated Bhd 5.000% 12/17/08 1
Silver Bird Group Bhd 1.000% 2/15/09 1
Southern Steel Bhd 5.500% 7/31/08 2
Tanah Emas Corporation Bhd 2.000% 12/9/06 1
Talam Corporation Bhd 7.000% 7/19/05 1
Talam Corporation Bhd 7.000% 4/19/06 1
Tap Resources Bhd 2.000% 6/29/06 1
Tenaga Nasional Bhd 3.050% 5/10/09 1
Time Engineering Bhd 2.000% 12/25/05 1
VTI Vintage Bhd 4.000% 8/22/06 1
Wah Seong Corporation Bhd 3.000% 5/21/12 3
Yu Neh Huat Bhd 3.000% 9/2/08 1
SINGAPORE
---------
CSC Holdings Ltd 6.500% 4/27/05 1
Rabobank Singapore 1.000% 1/15/13 73
Tampines Assets Ltd 5.625% 12/7/06 1
Tampines Assets Ltd 6.000% 12/7/06 1
Tincel Ltd 5.000% 6/13/11 1
Tincel Ltd 7.400% 6/13/11 1
Thailand
========
Bangkok Land 3.125% 3/31/01 30
*********
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, Peachy Clare Arreglo, Editors.
Copyright 2004. All rights reserved. ISSN: 1520-9482.
This material is copyrighted and any commercial use, resale or
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*** End of Transmission ***