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

                     A S I A   P A C I F I C

             Tuesday, October 5, 2004, Vol. 7, No. 197

                            Headlines

A U S T R A L I A

AQUARIUS GROUP: Final Meeting Set Today
ATHLENNIUM CONCEPTS: Appoints Ashton Bradley as Liquidator
AUSTAR TELEMEDICINE: Issues Notice of Meetings
BAYMEN DESIGN: Winding Up Order Made
BERG BROS: Holds Members' Final Meeting Today

BILVIN RESOURCES: Final Meeting Slated for October 6
COMINDICO AUSTRALIA: Telstra, Optus Yet to Confirm Interest
FULL BOAR: To Hold Final Meeting on October 15
JAMES HARDIE: Unions Seek Basic Agreement in Two Weeks
JAYMARDO PTY: Final Meeting Set October 15

JCS BRICKLAYING: Enters Winding Up Proceedings
PRIMELIFE CORPORATION: Faces Insolvency if FC Closes Syndicates
QANTAS AIRWAYS: Discusses Cooperation with Air NZ
RAA NSW: Court Issues Winding Up Order
SEACOM AUSTRALIA: Schedules Meetings on October 15

SHIELS ENTERPRISES: Enters Winding Up Proceedings
SNOWY FARM: Sets Final Meeting on October 15
SOUTH WEST: General Meeting Slated for Today


C H I N A  &  H O N G  K O N G

AXA INSURANCE: Creditors to Prove Claims by October 22
BEIJING DEVELOPMENT: Appoints New Directors


I N D O N E S I A

ASTRA INTERNATIONAL: Expects 2005 Revenue to Grow 15%
BANK PERMATA: BPI Fails in Bid for 51%-Stake
PERTAMINA: Domestic Fuel Prices Stay Low Amid Rising Oil Costs


J A P A N

ALL NIPPON: Creates Wholly Owned Subsidiary Through a Share Swap
DAISEI SANGYO: Enters Bankruptcy
HITACHI LIMITED: Establishes "ALAXALA Networks" with NEC
KOKUSAI MOTORCARS: Lone Star Taps Syndicate to Buy Towers
MITSUBISHI MOTORS: Vehicle Sales Plunge 55.2%

MITSUBISHI MOTORS: Reports September U.S. Sales
MITSUKOSHI LIMITED: To Shut Down 10 Problem Stores
UFJ HOLDINGS: Denies Delay in Merger with Nippon Shinpan
* Japan Blocks Funding to Tainted Firms


K O R E A

KOOKMIN BANK: Earnings Projection Could Ease Uncertainties
SK NETWORKS: To Give Shareholders One for Every 3.5 Shares


M A L A Y S I A

ACTACORP HOLDINGS: Seeks Restructuring Scheme Approval
BESCORP INDUSTRIES: Details Monthly Practice Note 4/2001 Status
CSM CORPORATION: Regularization Plan Unchanged
I-BERHAD: Posts Notice of Books Closure
INNOVEST HOLDINGS: To Submit New Restructuring Scheme

INTAN UTILITIES: Completes Divestment Scheme
KILANG PAPAN: Awaits Restructuring Scheme Approval
JIN LIN: SC Evaluates Restructuring Scheme
MENTIGA CORPORATION: Disposes Of 9,450 Shares in PT Rebinmas
MYCOM BERHAD: Issues Monthly Status Update

NAUTICALINK BERHAD: Implements Corporate Restructuring Scheme
OLYMPIA INDUSTRIES: Updates Restructuring Scheme Proposal
PAN PACIFIC: Discloses Practice Note 4/2001 Update
REKAPACIFIC BERHAD: Unveils Monthly Status Update
RNC CORPORATION: Aims to Regularize Financial Condition

SRI HARTAMAS: Terminates Reconstruction Deal
TANJONG PUBLIC: Posts Details of Principal Officer's Dealings
TRU-TECH HOLDINGS: Reveals Regularization Plan
UNITED CHEMICAL: Reschedules Court Meeting to December 3


P H I L I P P I N E S

COLLEGE ASSURANCE: Did Not Violate Rules, Says SEC
DMCI HOLDINGS: Posts Changes in Director's Shareholding
PHILIPPINE AIRLINES: May Add Nagoya To Its Destinations In Japan
PHILIPPINE LONG: Clarifies "Smart In Talks With Telcos" Report
PHILIPPINE LONG: Issues Additional Listing of Shares


S I N G A P O R E

BENG TIONG: Court to Hear Winding Up Petition     
ENID BLYTON: Creditors To Prove Debts by November 1
DAQING PETROCHEMICAL: Creditors Must Submit Claims by November 1
MILLENNIUM QUEST: Creditors Must Prove Debts or Claims
NEPTUNE ORIENT: Posts Notice of Change in Shareholder's Interest

PRO-CRETE INTERNATIONAL: Enters Winding Up Proceedings


T H A I L A N D

KRUNG THAI: Union Demands Speedy Selection of President
MILLENNIUM STEEL: Dissolves and Liquidates Subsidiary
THAI PETROCHEMICAL: Bangkok Bank's Provisions Remain Unchanged
TONGKAH HARBOUR: Increases Paid-Up Capital
TPI POLENE: To Hold Creditors Meeting in November

* BOND PRICING: For the Week 4 October to 8 October 2004

     -  -  -  -  -  -  -  -  

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A U S T R A L I A
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AQUARIUS GROUP: Final Meeting Set Today
---------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act the final meeting of members of The Aquarius
Group Pty Ltd will be held at the office of Ashton Brailey &
Co., Suite 8, 14 Frenchs Forest Road, Frenchs Forest, 2086 on
5th October, 2004 at 10:30 a.m. for the purpose of laying before
the meeting the liquidator's final accounts and report and
giving any explanation thereof.

Dated this 31st day of August 2004

Ashton Brailey
Liquidator


ATHLENNIUM CONCEPTS: Appoints Ashton Bradley as Liquidator
----------------------------------------------------------
Notice is hereby given that a general meeting of members of
Athlennium Concepts Pty Ltd (In Liquidation) was held on the
26th day of August 2004.  It was resolved that the Company be
wound up voluntarily and that for such purposes Ashton Brailey,
of Ashton Brailey & Co., Suite 8, 14 Frenchs Forest Road Frenchs
Forest NSW be appointed Liquidator.

Ashton Brailey
Liquidator


AUSTAR TELEMEDICINE: Issues Notice of Meetings
----------------------------------------------
Notice is hereby given that the meetings of the Members and
Creditors of Austar Telemedicine Limited (In Liquidation) will
be held at Hall Chadwick Level 29, 31 Market Street, Sydney NSW
on Friday, the 15th of October 2004 at 11:00 a.m.

The meetings will be Annual General Meetings and Final Meetings
in accordance with Sections 508 and 509 of the Corporations Act
2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidations ending on the 15th of
October 2004.

(2) That subject to any provisions under the Corporations Act
2001 to the contrary, the Liquidator be empowered to destroy all
books and records of the companies on completion of all duties.

(3) Any other business.

Robert Elliott
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


BAYMEN DESIGN: Winding Up Order Made
------------------------------------
On 27 August 2004 the Supreme Court of New South Wales made an
Order that the Company be wound up by the Court and appointed
A.H.J. Wily to be Liquidator.

A.H.J. Wily
Official Liquidator
Armstrong Wily & Co
6th Floor, 50 Margaret Street,
Sydney NSW 2000


BERG BROS: Holds Members' Final Meeting Today
---------------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act, the final meeting of members of Berg Bros Pty
Ltd will be held at the office of Ashton Brailey & Co, Suite 8,
14 Frenchs Forest Road, Frenchs Forest, 2086 on the 5th of
October 2004 at 9:00 a.m. for the purpose of laying before the
meeting the liquidator's final accounts and report and giving
any explanation thereof.

Dated this 31st day of August 2004

Ashton Brailey
Liquidator


BILVIN RESOURCES: Final Meeting Slated for October 6
----------------------------------------------------
Notice is hereby given that the final meeting of the members of
Bilvin Resources Pty Limited (In Liquidation) will be held at
the offices of Jones Condon Chartered Accountants, Level 13 189
Kent Street, Sydney NSW, on October 6, 2004 at 11:00 a.m. for
the purpose of laying before the meeting an account showing how
the winding up has been conducted and the property of the
company has been disposed, and of giving any explanation
thereof.

Dated this 1st day of September 2004

Michael G. Jones
Liquidator
c/- Jones Condon
Chartered Accountants
Telephone: (02) 9251 5222


COMINDICO AUSTRALIA: Telstra, Optus Yet to Confirm Interest
-----------------------------------------------------------
Telecom giants Telstra and Optus would not confirm if they are
on the list of potential buyers of failed telecom Comindico
Australia, relates the Sydney Morning Herald.

Comindico's receivers made public the sale of the collapsed firm
on Friday, sending an information memorandum to likely
investors. However, Telstra and Optus have yet to declare their
interest in Comindico.

While Telstra declined to divulge its plan on Comindico, the
Australia Competition and Consumer Commission (ACCC) may already
know the telecom's intentions. McGrathnicol and Partners,
Comindico's receivers, confirmed they have held talks with the
commission, but would not confirm the details.

Last week, ACCC Chairman Graeme Samuel said the body will
examine any interest Telstra had in Comindico, stressing the
need to protect potentially competition-enhancing new
technologies such as voice over internet protocol (voIP).

Mr. Samuel said that the commission works to "ensure that new
competitive infrastructure can proceed to be developed without
... impedance by those that have got particular power in the
market at the moment".

But it may not come to that because aside from Telstra and
Optus, a number of Australia's second-tier telecoms are eyeing
Comindico and may consider joint bids to secure the deal.

People Telecom and Commander Communications have been tipped as
potential candidates to acquire Comindico.

CONTACT:

Comindico Australia Pty Ltd.
Level 15, 201 Kent Street
Sydney NSW 2000
Australia

GPO Box N800 Grosvenor Place
NSW 1220
Australia

Telephone: +61 2 8220 6000
Fax: +61 2 9252 6864


FULL BOAR: To Hold Final Meeting on October 15
----------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Full Boar International Pty Limited (In
Liquidation) will be held at the office of Rangott & Slaven,
Chartered Accountants, 3rd Floor, 11 National Circuit, Barton
ACT on the October 15, 2004 at 9.30 a.m.

The meeting is convened for the purpose of receiving the
Liquidator's final report on the winding up.

Dated this 14th day of September 2004

M. E. Slaven
Liquidator


JAMES HARDIE: Unions Seek Basic Agreement in Two Weeks
------------------------------------------------------
Troubled James Hardie Industries NV could forge a basic deal
with labor unions within two weeks to settle a potential AU$1.5
billion (US$1.1 billion)-claim from asbestos victims, Bloomberg
says.

On Friday, the embattled building materials maker convened a
special meeting with unions and representatives of victims to
talk about funding a new scheme after last month's New South
Wales government inquiry found James Hardie misled victims by
claiming an original AU$293 million fund was sufficient.

The Australian Council of Trade Unions (ACTU) Secretary Greg
Combet said the talks between James Hardie and victims'
representatives had two objectives, to gain access to
compensation for victims and sustain the firm's profitability.

He said the talks would consider ways of compensating victims
for as many years as was necessary.

Mr. Combet declined to comment on possible solutions to the
issues, saying the forum for negotiation and discussion was not
in the media.

Meanwhile, James Hardie Chief Executive Peter Macdonald and
Chief Financial Officer Peter Shafronstood stood aside as the
Australian Securities and Investment Commission (ASIC) conducted
a probe to determine whether to lay charges over allegations the
stricken firm deceived investors about the compensation costs.
The company offered to pay all asbestos claims in full if the
state revises laws to reduce legal costs.

Recently, Australian building unions and several city councils
in New South Wales have decided to boycott James Hardie
products, which include home building materials and other
commercial products.

James Hardie started making products containing asbestos in the
1920s. It started to phase out blue asbestos in 1968, and all
products were asbestos-free by 1986. Asbestos, a fibrous
mineral, has been linked to lung cancer and mesothelioma, a rare
form of cancer affecting cells in the chest or abdomen.

CONTACT:

For corporate and media enquiries only, please contact:

James Hardie Industries
Web site: 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 inquires to CustomerLink Service Centre on 13 1103.


JAYMARDO PTY: Final Meeting Set October 15
------------------------------------------
Notice is given that a final meeting of the members and
creditors of Jaymardo Pty Ltd (In Liquidation) will be held at
Rodgers Reidy, Level 8, 333 George Street, Sydney on Friday,
October 15, 2004 at 10:00 a.m.

AGENDA

(a) To receive an account from the Liquidator.

(b) A resolution to destroy the books & records of the company.

(c) To consider any other business.

Peter D. Rodgers
Joint Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


JCS BRICKLAYING: Enters Winding Up Proceedings
----------------------------------------------
On 31 August 2004, the Supreme Court of New South Wales, Equity
Division, made an Order that JCS Bricklaying Pty Limited be
wound up and appointed R.J. Porter as Official Liquidator.

R.J. Porter
Official Liquidator
Moore Stephens PMN
Chartered Accountants
Level 6, 460 Church Street,
Parramatta NSW 2150


PRIMELIFE CORPORATION: Faces Insolvency if FC Closes Syndicates
---------------------------------------------------------------
Primelife Corporation has told the Australian Securities and
Investment Commission (ASIC) that it will face insolvency if the
Federal Court hands down a mandate to close its unregistered
investment syndicates, says The Age.

If the embattled aged-care operator had to refund investors'
money worth AU$123 million, it would be wound up, threatening
services to residents of aged-care facilities. The residents
will not be able to recover AU$80 million in paid accommodation
bonds.

Affidavits filed with the court reveal that Primelife earlier
this year sought to cut a deal with the Australian Securities
and Investments Commission that would have allowed 17 retirement
villages and aged-care facilities to operate under existing
arrangements free of sanctions, leaving the door open to
prosecute former managing director Ted Sent.

Former ASIC chairman Tony Hartnell and property investment
syndicate operator Michael Teys were then called to negotiate
with ASIC.

ASIC enforcement directorate lawyer Warren Day said the
regulator wants to "ensure that the investment schemes are fair
transparent and practical, that they take account of the
interest of investors and creditors, do not give rise to
potential conflicts of interest, and address issues involving
AU$80 million of liabilities carried through the aged-care bonds
held by the company".

ASIC earlier indicated it has no desire to shut down 17
facilities. However, Mr. Day's affidavit emphasized that
unregistered investment schemes should be wound up.

The writs seek orders to that effect along with orders for costs
of the investigation and declarations that the company operated
unregistered managed investment schemes without a dealer's
license, an Australian Financial Services license, and without
disclosure documents.

This may mean that the unregistered syndicates could be properly
registered provided the investigation proves their solvency.

CONTACT:

Primelife Corp. Ltd.
210 Kings Way,
South Melbourne, Victoria,
Australia, 3205
Head Office Telephone: (03) 8699 3300
Head Office Fax: (03) 8699 3414
Web site: http://www.primelife.com.au/


QANTAS AIRWAYS: Discusses Cooperation with Air NZ
-------------------------------------------------
The chief executives of Qantas Airways Limited and Air New
Zealand Limited have met to discuss ways of cooperation after
their proposed equity alliance was rejected by the New Zealand
High Court, reports the Australian Financial Review.

"We have had a good discussion and looked at a range of things
we believe we could cooperate on. We will get together teams to
work on it and meet again in the next few weeks," Qantas Chief
Executive Geoff Dixon said.

Last month, the New Zealand High Court quashed the proposed
offer of Qantas Airways to acquire a 22.5-percent stake in Air
New Zealand for about NZ$550 million (US$330 million).

Qantas said in a statement it would not appeal against the court
ruling but would discuss other potential cooperation options
with Air New Zealand.

CONTACT:

Qantas Airways
Qantas Centre, Level 9,
Building A, 203 Coward Street,
Mascot, Nsw, Australia, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339
Web site: http://www.qantas.com


RAA NSW: Court Issues Winding Up Order
--------------------------------------
On 31 August 2004, the Supreme Court of New South Wales, Equity
Division, made an Order that Raa (Nsw) Pty Limited be wound up
and appointed R.J. Porter as Official Liquidator.

R.J. Porter
Official Liquidator
Moore Stephens PMN
Chartered Accountants
Level 6, 460 Church Street,
Parramatta NSW 2150


SEACOM AUSTRALIA: Schedules Meetings on October 15
--------------------------------------------------
Notice is hereby given that meetings of the Members and
Creditors of Seacom Australia Pty Limited (In Liquidation) will
be held at Hall Chadwick Level 29, 31 Market Street, Sydney NSW
on Friday, the 15th of October 2004 at 11:00 a.m.

The meetings will be Annual General Meetings and Final Meetings
in accordance with Sections 508 and 509 of the Corporations Act
2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidations ending on 15th October
2004.

(2) That subject to any provisions under the Corporations Act
2001 to the contrary, the Liquidator be empowered to destroy all
books and records of the companies on completion of all duties.

(3) Any other business.

Robert Elliott
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


SHIELS ENTERPRISES: Enters Winding Up Proceedings
-------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Shiels Enterprises Pty Limited, held on the 30th day of
August 2004, the following Special Resolution was passed:

That the Company be wound up voluntarily.

Stephen Alan Jay of Nicholls & Co., Suite 103, 1st Floor,
Wollundry Chambers, Johnston Street, Wagga Wagga, New South
Wales was appointed Liquidator.

Stephen Jay
Liquidator
Suite 103, 1st Floor,
Wollundry Chambers, Johnston
Street, Wagga Wagga NSW 2650


SNOWY FARM: Sets Final Meeting on October 15
--------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Snowy Farm Enterprises Pty Limited (In Liquidation)
will be held at the office of Rangott & Slaven, Chartered
Accountants, 3rd Floor, 11 National Circuit, Barton ACT on the
15th of October 2004.

The meeting is convened for the purpose of receiving the
Liquidator's final report on the winding up.

Dated this 14th day of September 2004

M. E. Slaven
Liquidator


SOUTH WEST: General Meeting Slated for Today
--------------------------------------------
Notice is hereby given pursuant to Subsection 509(3) and (4) of
the Corporations Act 2001, that a general meeting of members of
South West Estates Pty Ltd (In Voluntary Liquidation) will be
held at Red Hill Coolac NSW 2727, on October 5, 2004 at 10:00
a.m. for the purpose of receiving a set of accounts and
statements from the liquidator, showing how the winding up of
the company has been conducted, and the property of the company
disposed of, and of hearing from the liquidator any necessary
explanations.

Dated this 31st day of August 2004

Anthony M. Long
Liquidator
c/- Boyce Chartered Accountants
19 Montague Street, Goulburn


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


AXA INSURANCE: Creditors to Prove Claims by October 22
------------------------------------------------------
Notice is hereby given that the Creditors of Axa Insurance Hong
Kong Limited, which is in voluntary liquidation, are required on
or before the 22nd day of October 2004 to send their names,
addresses and descriptions, full particulars of their debts or
claims, as well as the names and addresses of their solicitors
(if any) to the undersigned.

If so required by notice in writing from the said liquidators,
they are to prove their debts or claims at such time and place
as shall be specified in such notice.

In default thereof, such creditors will be excluded from the
benefit of any distribution made before such debts are proved.

Dated this 1st day of October 2004

Desmond Chiong
Joint and Several Liquidator
Ferrier Hodgson Limited
14th Floor, Hong Kong Club Building
3A Chater Road, Central
Hong Kong


BEIJING DEVELOPMENT: Appoints New Directors
--------------------------------------------
The Board of Beijing Development (Hong Kong) Limited yesterday
announced that Mr. Feng Ching Yeng, Frank has resigned as an
independent non-executive director of the Company with effect
from September 30, 2004. The Board also announced that Prof. Liu
Wei and Dr. Jin Lizuo has been appointed as independent non-
executive directors and members of the audit committee of the
Company with effect from September 30, 2004.

Prof. Liu, aged 47, received his bachelor degree, master degree
and doctorate degree in Economics from Peking University. Since
he graduated, Prof. Liu has been teaching in Peking University
and was conferred the tutorship of doctoral student
qualification in 1994.

Prof. Liu has been awarded with the ``Talent across the
Century'' in liberal arts by the Ministry of Education and the
Chief Specialist in the study of ``China Market Economy
Development Research''. Prof. Liu is currently the Dean of
Peking University School of Economics, the Chief Editor of
``Economic Science'', the Vice President of China Market Economy
Research Society, the Vice President of China Private Economy
Research Society and the Vice President of Chinese Association
of Productivity Science.

Dr. Jin, aged 47, holds a doctorate degree in Economics from
Oxford University. Dr. Jin graduated from Peking University
School of Economics in 1982 and has been teaching in the
university. From 1983 to 1988, Dr. Jin served as the member of
State Economic Structure Reforms Committee and was the First
President (1988-89) of Chinese Economic Association (UK).

From 1993 to 1995 Dr. Jin has worked for N.M. Rothschild and
Morgan Stanley and has accumulated 12 years' extensive
experience in investment banking and financial management. Dr.
Jin is currently the Chief Councilor of Shanghai Institute of
Law & Economics, the Chairman of Zhonghe Yingtai Management
Consultancy Co., Ltd., the specialist committee member of China
Xinda Assets Management Corporation, the independent directors
of COSCO Shipping Co., Ltd., China United Travel Co., Ltd. and
Hong Yuan Securities Co., Ltd.

The Company has not entered into service contracts with Prof.
Liu and Dr. Jin. They do not have specific length of service and
are subject to retirement by rotation and re-election in
accordance with the articles of association of the Company.

Prof. Liu and Dr. Jin will receive director fees as determined
from time to time by the Board with reference to their duties
and responsibilities, currently being HK$100,000 per annum
respectively.

Prof. Liu and Dr. Jin have not previously held any position with
the Company or any of its subsidiaries. Save and except the
relationship arising from their positions being independent non-
executive directors and members of the audit committee of the
Company, as at the date of this announcement, Prof. Liu and Dr.
Jin have no relationship with any directors, senior management
or substantial or controlling shareholders of the Company and do
not have any interest in shares of the Company within the
meaning of Part XV of the Securities & Futures Ordinance.

The Board takes this opportunity to welcome Prof. Liu and Dr.
Jin to join the Board, and at the same time expresses its
appreciation to Mr. Feng for his valuable contribution to the
Company during his term of service.

As at the date of this announcement, the Board comprises Mr.
Zhang Honghai (Chairman), Mr. Ng Kong Fat, Brian, Mr. E Meng and
Mr. Zhao Jifeng as executive directors and Prof. Liu Wei, Dr.
Jin Lizuo and Mr. Cao Guixing as independent non-executive
directors.

By order of the Board
Wong Kwok Wai, Robin
Company Secretary
Hong Kong, 30 September 2004


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=================


ASTRA INTERNATIONAL: Expects 2005 Revenue to Grow 15%
-----------------------------------------------------
PT Astra International expects revenue to grow between 10
percent and 15 percent next year from this year's IDR36 trillion
profit target, Dow Jones reports.

"I'm optimistic all Astra's subsidiaries will continue to grow
next year, so I expect Astra's revenue will increase between 10%
and 15%," Asta President Director Budi Setiadharma told
reporters.

In order to boost vehicle sales, the automaker will launch new
auto dealerships in Java, Kalimantan and Sumatra next year.

Total four-wheeled vehicle sales in the domestic market is
expected to reach 500,000 unit next year, with Astra snagging a
45-percent market share. The firm, likewise, projects motorcycle
sales to reach 4.7-5 million next year.

Astra manufactures cars with Japan's Toyota Motor Corp. (TM) and
Daihatsu Motor Co. (7262.TO). It produces Honda motorcycles with
Honda Motor Co. (HMC).

CONTACT:

P.T. Astra International Terbuka
No 8 Jl Gaya Motor Raya Sunter II
Jakarta 14330
Indonesia
Phone: +62 21 652 2555
Fax: +62 21 651 2058/59
Web site: http://www.astra.co.id/


BANK PERMATA: BPI Fails in Bid for 51%-Stake
--------------------------------------------
The Bank of the Philippine Islands (BPI) and its international
allies will not be participating in the bid for a controlling
stake in PT Bank Permata Tbk, Asia Intelligence Wire reports.

BPI Executive Vice President Aurelio Montinola III confirmed
BPI, which has teamed up with Indonesia's Bank Danamon, U.K.'s
Barclays Bank and Singapore's Temasek Holdings, was not included
in the shorlist of Permata's potential buyers.

A 51-percent stake in Bank Permata valued at US$382 million is
set for divestment as part of the bank's privatization. After
the recent shortlisting of bidders, the winner will be announced
in December.

Nevertheless, Mr. Montinola said BPI was proud to have been
invited by these foreign institutions to be part of their
consortium and noted that the bank could make use of a similar
team-up with them when other opportunities arise in the future.

Analysts said that except for BPI, which has ample capital
funds, banks in the Philippines have a slim chance to expand
overseas because of the high cost of domestic funds.

CONTACT:

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


PERTAMINA: Domestic Fuel Prices Stay Low Amid Rising Oil Costs
--------------------------------------------------------------
The government opted to maintain domestic fuel prices despite
the rising global prices of crude oil, Asia Pulse says, citing
state oil and gas company PT Pertamina.

Pertamina spokesman Dwi Martono confirmed prices in October are
the same as that of last month, with the price of premium
gasoline maintained at IDR1,810 (US$0.2) and that of kerosene at
IDR1,800 per liter.

However, the fuel prices for international bunker were raised.
The price of automotive diesel oil climbed to 37.2 cents per
liter from 35 cents in September and that of industrial diesel
rose to 35.5 cents from 33.6 cents.

The skyrocketing oil prices in the global market have forced the
government to increase subsidy on oil fuels to IDR63 trillion
this year from the original IDR 14.4 trillion projected in the
state budget.

CONTACT:

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


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J A P A N
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ALL NIPPON: Creates Wholly Owned Subsidiary Through a Share Swap
----------------------------------------------------------------
It was decided at a meeting of the Board of Directors of All
Nippon Airways Co., Ltd (ANA) on September 30 to make ANA
Catering Service Ltd (ANAX) a wholly owned subsidiary of ANA. To
that end a share swap will take place on December 1, 2004.

This swap will constitute a so-called 'Simplified Share Swap',
governed by the provisions of Article 358 of the Japanese
Commercial Code, which does not require the approval of a
Shareholders Meeting.

(1) Reason for Creating the Wholly Owned Subsidiary

ANAX (capital 3.53 million yen, based in Tokyo), the catering
arm of ANA Group's air transportation services, provides
inflight meals and related products, and is 41.5% owned by ANA.
The share swap will bring its management together with that of
ANA's Inflight Services Department.

(2) Ratio of Share Swap

                     A N A        ANAX(wholly owned subsidiary)
Share swap ratio      147          :           1

NOTE

(1) Allotment Ratio of Shares
Per 1 share of ANAX, 147 shares of ANA will be allotted.
However, where ANA already holds share in ANAX, no allotment
will be made in relation to those shares.

(2) Calculation and Basis of Share Swap Ratio
The Share Swap Ratio will be based on the value of ANA shares on
the Tokyo Stock Exchange for the three-month period ended one
month before the signing of the Share Swap contract. The value
of ANA Catering Service Ltd shares will be calculated by
Deloitte Touche Tohmatsu.

(3) Number of Shares to be swapped (605,640 common shares)
ANA will allot its own treasury shares for the swap; no new
shares will be issued as part of the swap transaction.


DAISEI SANGYO: Enters Bankruptcy
--------------------------------
Golf course developer Daisei Sangyo Kaihatsu K.K. has entered
bankruptcy with US$99.17 million in total liabilities, according
to Teikoku Databank America. The firm is based in Osaka-Shi,
Osaka 530-0057.

For more information, visit http://www.teikoku.com/.


HITACHI LIMITED: Establishes "ALAXALA Networks" with NEC
--------------------------------------------------------
Hitachi, Ltd. (TSE: 6501) and NEC Corporation (TSE: 6701)
announced Friday the establishment of a new joint venture
company, ALAXALA Networks Corporation (ALAXALA), which
specializes in the business of backbone routers/switches for
networks of telecommunications carriers, government/public
sectors and large corporations based on the agreement signed on
June 25th 2004. The business of ALAXALA covers from development,
design, manufacturing, sales/marketing to maintenance and
services.

Under the recent expansion of the broadband network market,
there are emerging business opportunities in establishing new
Internet Protocol network service infrastructure among telecom
operators and service providers. The trend is also seen on a
global scale. IP network is becoming one of the most important
social infrastructures as well as the indispensable business
infrastructure for corporate/business activities in the
information society.

ALAXALA has established its corporate philosophy as "Offering
safe and secure network to people in the world and contributing
to the realization of rich and abundant information society."
ALAXALA advocates "guaranteed network" as a concept to fully
support information lifelines, and under the concept, the
company design, manufacture, sell, and offer maintenance
services of backbone routers/switches for the networks. ALAXALA
inherits state-of-the-art technologies of Hitachi and NEC as
core competence and plans to introduce competitive and unique
products to the market in a timely manner.

Today, ALAXALA starts sales of its backbone router/switch "AX
series" to its business partners. Hitachi and NEC will strongly
promote system integration offerings of ALAXALA products with
necessary networking equipment and servers.

Profile of ALAXLA

Name: ALAXALA Networks Corporation
President: Hiroyuki Wada
Capital: JPY11 billion (Hitachi:60%, NEC:40%)
Start of Business: October 1st, 2004
Number of Employees: 320
Address: Kawasaki-city, Kanagawa Prefecture
Business: Development, manufacturing, sales, maintenance of
Routers/Switches
Product: Backbone router/switch (AX series)

CONTACT:

ALAXLA Networks Corporation
Kazutoshi Takahashi
Tel: +81-44-549-1291
E-mail: ktakahashi@alaxala.com
URL http://www.alaxala.com

Hitachi, Ltd.  
Tadashi Hisanaga
Tel: +81-3-5208-9323
E-mail: tadashi.hisanaga.qd@hitachi.com

NEC Corporation
Akiko Shikimori
Tel: +81337986511
E-mail: a-shikimori@ay.jp.nec.com


KOKUSAI MOTORCARS: Lone Star Taps Syndicate to Buy Towers
---------------------------------------------------------
U.S.-based investment fund Lone Star Group has secured from a
UFJ Bank-led syndicate more than JPY100 billion (US$902
million), which will be used to purchase three large office
buildings owned by troubled taxi operator Kokusai Motorcars
Company, reports Asia Pulse.

Lone Star will borrow money in the form of a five-year
nonrecourse loan from the syndicate, which includes commercial
mortgage provider Hypo Real Estate Capital Japan Corporation.

UFJ Bank will provide a senior loan of JPY50 billion, while Hypo
Real Estate will handle a JPY56 billion mezzanine loan.


MITSUBISHI MOTORS: Vehicle Sales Plunge 55.2%
---------------------------------------------
Mitsubishi Motors Corporation and Mitsubishi Fuso Truck and Bus
Corporation saw their consolidated new vehicle sales dive 55.2
percent in the first half of the fiscal year from a year
earlier, Japan Today reveals, citing the Japan Automobile
Dealers Association.

The two firms' combined new vehicle sales came to 27,896 units
in the April-September period. The figures are, so far, the
lowest for any half-year period.

Sources said the latest result indicated lingering negative
effects on their business by a series of defect cover-up
scandals.

CONTACT:

Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
Web site: http://www.mitsubishi-motors.co.jp


MITSUBISHI MOTORS: Reports September U.S. Sales
-----------------------------------------------
Mitsubishi Motors North America, Inc. (MMNA) on Friday reported
September 2004 U.S. sales of 9,282 units. Mitsubishi Motors has
sold 132,997 units year to date in the United States.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of the Mitsubishi Motors Corporation in
the United States and Canada. Mitsubishi Motors sells coupes,
convertibles, sedans and sport utility vehicles through a
network of nearly 650 dealers.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_MITSUBISHIMOTORS100404.pdf

CONTACT:

Mitsubishi Motors North America, Inc.
6400 Katella Ave.
Cypress, CA 90630-0064 (Map)
Phone: 714-372-6000
Fax: 714-373-1020
Web site: http://www.mitsucars.com


MITSUKOSHI LIMITED: To Shut Down 10 Problem Stores
--------------------------------------------------
Mitsukoshi Limited will close ten money-losing outlets in 2005
under its ongoing restructuring program, reports Japan Times.

The struggling department store chain operator will shut down
four large stores in Yokohama, Kurashiki and Osaka in May, and
six small stores in February.

With the closures, around 800 employees above 40 years old will
be asked to file for voluntary early retirement, while the rest
will be deployed to other locations.

The company has no alternative but to shut down the four large
because they are operating in the red for years, with the Osaka
stores not turning in profits for at least 30 years.

Mitsukoshi President Taneo Nakamura said the firm hopes to boost
profitability by shutting down the problem stores and improving
sales at the remaining outlets.

The company will book a JPY20.4 billion charge for the store
closures and the early retirement call. It now expects a JPY2.5
billion net loss for its current business year to February,
against an earlier projected net profit of JPY7.5 billion.

Mitsukoshi, which opened as a kimono shop in 1673 before
operating as a department store in 1904, will be left with 15
large stores after the closures.

CONTACT:

Mitsukoshi Limited
1-4-1 Nihonbashi Muromachi, Chuo-ku
Tokyo 103-8001, Japan  
Phone: +81-3-3241-3311
Fax: +81-3-3242-4559


UFJ HOLDINGS: Denies Delay in Merger with Nippon Shinpan
--------------------------------------------------------
UFJ Card Company, a unit of UFJ Holdings Incorporated, denied a
newspaper report that it is planning to delay a merger with
Nippon Shinpan Company slated for April 2005, Asia intelligence
Wire reveals.

The two firms said there has been no decision on the
postponement.

On Friday, the Tokyo Shimbun reported consumer credit firm
Nippon Shinpan and UFJ Card are in final talks to put off the
alliance until a merger between UFJ and Mitsubishi Tokyo
Financial Group Incorporated is completed, because of the
possible inclusion in the deal of MTFG-affiliated credit card
agency DC Card Company Limited.

Last year, UFJ announced it would take control of Nippon
Shinpan, which operates the Nicos credit card, as it aimed to
expand its credit card business.

CONTACT:

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


* Japan Blocks Funding to Tainted Firms
---------------------------------------
Japan is amending rules on the use of its aid to developing
countries to ensure the funds are not spent on firms found
guilty of unethical practices, reports The Washington Times.

According to a report by the Yomiuri Shimbun, the Foreign
Ministry's revised guidelines specified that companies who have
been suspended from bidding for government contracts will not be
entitled for grant-in-aid projects.

The amendment was made following Mitsubishi Motors Corporation's
and Mitsubishi Fuso Truck and Bus Corporation's defect cover-up
issues. The two firms were suspended from participating in
government tenders for 18 months, and thus will be barred from
the grant-in-aid program as well.

Countries receiving funding under the Japan government scheme,
who are required to secure materials through competitive tender,
will now be asked to rule out Japanese firms subject to
administrative measures.

As part of its reconstruction aid, Japan supplied 1,150 police
cars to Iraq this year. Among the vehicles are 340 Mitsubishi
cars. The automaker will be excluded from further procurement
for Iraq.


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


KOOKMIN BANK: Earnings Projection Could Ease Uncertainties
----------------------------------------------------------
Kookmin Bank projects earnings in the second half of this year
will exceed the results of the first six months, reports The
Korea Herald.

According to analysts, the projection of strong earnings and the
forthcoming selection of a new president would likely remove
uncertainties surrounding the bank.

"For Kookmin, the worst seems to be over. Now it's time for
investors to focus on the bank's financial fundamentals, which
seems to be positive," Han Jung-tae, an analyst at Mirae Asset
Securities Co. said, who upgraded his opinion on the bank to buy
from neutral with a six-month target price of KRW43,900.

Mr. Han said the financial risk stemming from the most recent
government rulings would be lower than expected. A slower growth
pace of delinquencies at bank's loans is also another positive
sign of a turnaround in Kookmin's financial fundamentals.

In a monthly speech to employees, Mr. Kim forecasts a third-
quarter profit of KRW300 billion (US$262 million). The bank's
first half profit reached KRW307.6 billion after three
consecutive losses, as a result of the rising provisions for bad
loans.

Kookmin Bank was penalized by the government this year for
violating accounting rules during a merger with the bank's
credit card unit last year.  The bank's president Kim Jung Tae
was barred from re-election to another three-year term.

By October 14, Kookmin will decide on potential candidates to
replace Mr. Kim and finalize its decision at a shareholders
meeting to be held on October 29.

"We believe the committee's clear announcement of the guidelines
should help ease such concerns," said Yoon Yong-chul, head of
research at Lehman Brothers, Korea. He referred to the remarks
made by members of the committee that potential candidates
should be free from political influence with years of experience
in the financial industry.

CONTACT:

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


SK NETWORKS: To Give Shareholders One for Every 3.5 Shares
----------------------------------------------------------
SK Networks Co. is planning to cancel shares for the second time
around in 12 months, according to The Korea Herald, citing
Bloomberg.

One share for every 3.5 shares will be given to major and
minority shareholders and the rest will be cancelled, according
to a regulatory filing by SK Networks.  The share cancellation
needs to be 75-percent approved by the creditors.

SK Networks did its first cancellation of shares in October of
last year.  The trading company erased equity holdings by major
shareholders and gave retail investors one share for every seven
owned.

After the October share cancellation, Hana Bank, Korea
Development Bank and other creditors swapped KRW2.92 trillion of
debt for equity or convertible bonds to give SK Networks time to
revive its operation.

SK Networks is also planning a stock split to lower the face
value of the shares by half to KRW2,500 a piece.  The company
said the share split is aimed at facilitating trading in the
stock on the market.

In March of 2003, SK Networks formerly known as SK Global Co.
was involved in an accounting scandal after prosecutors revealed
that it misstated 2001 financial results by more than KRW1.5
trillion (US$1.3 billion).

CONTACT:

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


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


ACTACORP HOLDINGS: Seeks Restructuring Scheme Approval
------------------------------------------------------
Actacorp Holdings Berhad is presently awaiting the decision from
the Securities Commission on the appeal application of the
Proposed Restructuring Scheme of the Company, which was
submitted on 11 August 2004. Any further development on the
Proposed Restructuring Scheme will be announced in due course.

This announcement is dated 1 October 2004.
C.c.: Securities Commission
Attn.: Encik Kris Azman Abdullah

CONTACT:

Actacorp Holdings Berhad
Jalan 3/76D Desa Pandan
Kuala Lumpur, Selangor 55100
Malaysia
Telephone: +60 3 9282 1388
Telephone: +60 3 9284 7133


BESCORP INDUSTRIES: Details Monthly Practice Note 4/2001 Status
---------------------------------------------------------------
Reference is made to paragraph 4.1(b) of the Practice Note
4/2001 of the Listing Requirements of Bursa Malaysia Securities
Berhad whereby Bescorp Industries Berhad is required to announce
the status of its plan to regularize its financial condition on
a monthly basis.

The Securities Commission (SC), via its letter dated 17
September 2004, approved the Proposed Liquidation pursuant to
the Corporate Proposals by BIB by way of WCT Land Berhad (WCTL)
disposing off the entire issued and paid-up share capital held
in BIB comprising 19,000,000 ordinary shares of RM1.00 each to a
special purpose vehicle, which is to be nominated and controlled
by the Special Administrators of BIB.

On 28 September 2004, Messrs Shook Lin & Bok, the solicitors
representing the Company, had filed an application with the
Kuala Lumpur High Court for the striking out of the Writ of
Summons dated 10 August 2004.

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

CONTACT:

Bescorp Industries Berhad
7th Floor, Centrel Tower
Wisma Consplant, 2 Jalan SS16/4
Subang Jaya
47500 Petaling Jaya, Selangor
Malaysia
Telephone: 603-7327988
Fax: 603-7349967


CSM CORPORATION: Regularization Plan Unchanged
----------------------------------------------
Pursuant to the Practice Note No. 4 (PN4/2001) of the Listing
Requirements, Malaysian International Merchant Bankers Berhad,
on behalf of CSM Corporation Berhad, announced that there is no
new development on the Company's plan to regularize its
financial condition since the last monthly status announcement
dated 1 September 2004.

MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD
This announcement is dated 1 October 2004.
c.c. Issues and Investment Division
Securities Commission

CONTACT:

CSM Corporation
Suite 8.2, 8th Floor
Menara CSM, Jalan Semangat
46100 Petaling Jaya
Telephone: 03-7958888
Fax: 03-7953707
Website: www.csm.com.my


I-BERHAD: Posts Notice of Books Closure
---------------------------------------
I-Berhad disclosed to Bursa Malaysia Securities Berhad the
details of its books closure relating to the Company's interest
payment.

EX-date: 19/10/2004  

Entitlement date: 21/10/2004  

Entitlement time: 04:00:00 PM  

Entitlement subject: Interest Payment

Entitlement description:

Fifth Interest Payment on RM40,392,000 nominal value of 5%
Irredeemable Convertible Unsecured Loan Stocks 2002/2007 (ICULS)

Period of interest payment :02/05/2004 to 01/11/2004
Financial Year End:

Share transfer book & register of members will be closed from
(both dates inclusive) for the purpose of determining the
entitlements: to Registrar's name ,address, telephone no:

Tenaga Koperat Sdn Bhd
20th Floor, Plaza Permata
Jalan Kampar
Off Jalan Tun Razak
50400 Kuala Lumpur
Tel: 03-4041 6522
Payment date  :01/11/2004

a) Securities transferred into the Depositor's Securities
Account before 4:00 pm in respect of transfers: 21/10/2004

b) Securities deposited into the Depositor's Securities Account
before 12:30 pm in respect of securities exempted from mandatory
deposit:

c) Securities bought on the Exchange on a cum entitlement basis
according to the Rules of the Exchange.

Number of new shares/securities issued (units) (If applicable):  
Entitlement indicator: Percentage

Entitlement in percentage (%): 5

Remarks

The ICULS bear a coupon rate of 5% per annum payable semi-
annually in arrears.


INNOVEST HOLDINGS: To Submit New Restructuring Scheme
-----------------------------------------------------
Innovest Holdings Berhad is in the midst of preparing the
submission of a new proposed restructuring scheme to the
relevant authorities as announced on 2 September 2004 and 8
September 2004. The Company is currently awaiting the decision
of Bursa Malaysia Securities Berhad on its application for
extension of time of up to two (2) months from 3 September 2004
for the Company to make applications to the relevant authorities
and thereafter-another four (4) months to obtain the approvals
from the authorities (the Appeal).

The Appeals Committee of Bursa Securities currently defers the
removal of the securities of Innovest from the Official List of
Bursa Securities pending the decision on the Appeal.

CONTACT:

Innovest Holdings Berhad
Suite 9B.2, Level 9B
Wisma E & C
No. 2 Lorong Dungun Kiri
Damansara Heights
50490 Kuala Lumpur
Telephone: 03-2533373
Fax: 03-2543733

This announcement is dated 1 October 2004


INTAN UTILITIES: Completes Divestment Scheme
--------------------------------------------
Intan Utilities Berhad disclosed to Bursa Malaysia Securities
Berhad the update of its divestment plans as follows:

(1) Divestment of 630,000 ordinary shares of RM1.00 each and
6,000,000 6% cumulative redeemable preference shares of RM1.00
each in Metropolitan Utilities Corporation Sdn Bhd (MUC),
representing 30% of the issued and paid-up share capital of MUC,
to Compagnie Generale des Eaux SA for a total cash consideration
of RM36,000,000 (Divestment I);

(2) Divestment of 1,470,000 ordinary shares of RM1.00 each and
14,000,000 6% cumulative redeemable preference shares of RM1.00
each in MUC, representing 70% of the issued and paid-up share
capital of MUC, to Jauhari Harapan Sdn Bhd (JHSB) for a total
cash consideration of RM84,000,000 (Divestment II);

(3) Subscription of 24,231,000 new ordinary shares of RM1.00
each in JHSB, representing approximately 46.19% of the enlarged
issued and paid-up share capital of JHSB, for a total cash
consideration of RM31,500,000 (Reinvestment); and

(4) Subscription of 99,998 new ordinary shares of RM1.00 each
and 90,000,000 redeemable preference shares of RM0.01 each in
Premier Merchandise Sdn Bhd (Premier), collectively representing
approximately the entire enlarged issued and paid-up share
capital of Premier, for a cash consideration of RM99,998 and
RM90,000,000 respectively (Subscriptions).

On behalf of Intan Utilities Berhad, AmMerchant Bank Berhad
announced that Divestment I has been completed on 24 September
2004 and Divestment II has been completed on 30 September 2004.
The Reinvestment and the Subscriptions were completed on 1
October 2004.

Pursuant to Divestment I and II, MUC ceased to be a subsidiary
of Intan. Pursuant to the Reinvestment, JHSB is now an
associated company of Intan while Premier is now a subsidiary of
Intan pursuant to the Subscriptions.

CONTACT:

Intan Utilities Berhad
11th Floor Menara Berjaya,
KL Plaza, 179 Jalan Bukit Bintang,
55100 Kuala Lumpur
Telephone: 03-2935 8888
Fax: 03-29358043
Website: http://www3.jaring.my/intan

This announcement is dated 1 October 2004.


KILANG PAPAN: Awaits Restructuring Scheme Approval
--------------------------------------------------
Kilang Papan Seribu Daya Berhad (KPSD) (Special Administrators
Appointed) is currently awaiting approvals from the Securities
Commission and Foreign Investment Committee on its revised
Proposed Restructuring Scheme.

There is no material change to the Company's plan to regularize
its financial condition.

CONTACT:

Kilang Papan Seribu Daya Berhad
Lot 1 Harmoni Industrial Estate
Kolombong, Inanam 88100
Malaysia
Tel: +60 88 423 385
Tel: +60 88 423 287

This announcement is dated 1 October 2004.


JIN LIN: SC Evaluates Restructuring Scheme
------------------------------------------
In compliance with Practice Note 4/2001 of the Bursa Malaysia
Securities Listing Requirements which requires an affected
listed issuer to announce the status of its plan to regularize
its financial condition on a monthly basis until further notice
from Bursa Securities, Jin Lin Wood Industries Berhad (JLWIB)
announced that the Proposed Restructuring Scheme of JLWIB
submitted to the Securities Commission ('SC') on 30 June 2004 is
still in the process of being evaluated by SC.

CONTACT:

Jin Lin Wood Industries Berhad
177, 2nd Floorn
Taman Sri Dagang
P O Box 3181
97013 Bintulu, Sarawak
Tel: 086-334661/335570
Fax: 086-330866/334808

This announcement is dated 1 October 2004.


MENTIGA CORPORATION: Disposes Of 9,450 Shares in PT Rebinmas
------------------------------------------------------------
Further to the status report on 1 September 2004, Mentiga
Corporation Berhad (MCB) announced that it is still in the
process of negotiating with the interested parties on its
Proposal to dispose of 9,450 ordinary shares representing 90% of
the total issued and paid up share capital of PT Rebinmas Jaya
via MCB's 56% owned subsidiary, Selat Bersatu Sdn Bhd, which was
announced on 17 August 2004.

CONTACT:

Mentiga Corporation Berhad
Jalan Kampar Off Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Tel: +60 3 40439411
Tel: +60 3 40431233


MYCOM BERHAD: Issues Monthly Status Update
------------------------------------------
The Board of Directors of Mycom Berhad (Mycom) announced that
there has been no major development to the implementation of the
Proposed Restructuring Scheme of the Company pursuant to
Practice Note No. 4/2001 in relation to Paragraph 8.14 of the
Listing Requirements of Bursa Malaysia Securities Berhad.

CONTACT:

Mycom Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
+60 3 2072 3993
+60 3 2072 3996


NAUTICALINK BERHAD: Implements Corporate Restructuring Scheme
-------------------------------------------------------------
In compliance with Practice Note No. 4/2001 (PN4), the Board of
Directors of Nauticalink Berhad (NB) announced that it is in the
midst of meetings with its corporate, legal and end financial
advisors to implement the approved corporate restructuring
scheme.


OLYMPIA INDUSTRIES: Updates Restructuring Scheme Proposal
---------------------------------------------------------
The Board of Directors of Olympia Industries Berhad (OIB)
announced that there has been no major development to the
implementation of the Proposed Restructuring Scheme of the
Company.

CONTACT:

Olympia Industries Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Tel: +60 3 2070 0033
Tel: +60 3 2070 0011

This announcement is dated 1 October 2004.

c.c. Securities Commission


PAN PACIFIC: Discloses Practice Note 4/2001 Update
--------------------------------------------------
The Board of Directors announced that Pan Pacific Asia Berhad,
through Avenue Securities Sdn Bhd ("Avenue") has commenced
discussion with one of the local banker. Avenue will continue to
hold discussions with other bankers in due course. Meanwhile,
the due diligence working group, comprising the appointed
professionals, representatives from the Company and
representatives from the "white knight" are progressing their
works and are preparing for submission to the relevant
authorities.

CONTACT:

Pan Pacific Asia Berhad
Unit No. 602B,
Level 6, Tower B,
Uptown 5, 5 Jalan SS21/39,
Damansara Uptown,
47400 Petaling Jaya,
Selangor
Tel: 03-77278168
Fax: 03-77271622


REKAPACIFIC BERHAD: Unveils Monthly Status Update
-------------------------------------------------
The Board of Directors of RekaPacific Berhad announced its
monthly status in relation to Practice Note 4/2001 issued in
relation to paragraph 8.14 of the listing requirements of the
Bursa Malaysia Securities Berhad.

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

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

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

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

(i). On hearing 24 August 2004, the court had vacated the
matter.

CONTACT:

RekaPacific Berhad
77-1 Jl Setiabakti Bukit Damansara
Kuala Lumpur, 50490
MALAYSIA
+60 3 2094 2260
+60 3 2094 2335

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


RNC CORPORATION: Aims to Regularize Financial Condition
-------------------------------------------------------
RNC Corporation Berhad announced the monthly status of its plan
to regularize its financial condition as follows:

(1) Reference is made to paragraph 4.1(b) of the Practice Note
4/2001. Announcement of the status of its plan to regularize its
financial condition on a monthly basis until further notice from
the Exchange.
   
(2) Reference is also made to the "First Announcement" on 19th
February 2001 on the Proposed Corporate and Debt Restructuring
Scheme (PRS), the previous Monthly Status Announcements since
1st March 2001 and also all the announcements pertaining to the
PRS.
   
(3) On 18th April 2003, the Company and its advisers, OSK
Securities Berhad submitted the proposed modifications to the
PRS to the Securities Commission (SC), Ministry of International
Trade and Industry (MITI), Federal Economic Planning Unit (EPU)
and Foreign Investment Committee (FIC) for their approval.
   
(4) The SC, via its letter dated 13th November 2003 and 17th
November 2003, approved the proposed modifications to the PRS.
The approval of the SC on the PRS was subject to the compliance
of its terms and conditions as announced on 18th November 2003
and 19th November 2003.
   
(5) The Working Due Diligence Committee is in the process of
complying with the terms and conditions as stipulated by the SC.
   
(6) The SC had vide its letter dated 15th April 2004 extended
the implementation of the PRS to 16th October 2004.
   
(7) Pengurusan Danaharta Nasional Berhad (Danaharta) had
extended the moratorium period for another twelve (12) months
from 28th July 2004 to 27th July 2005 pursuant to section 41(5)
of the Danaharta Act, 1998 and Danaharta (Amendment) Act, 2000,
vide its letter dated 19th July 2004.
   
CONTACT:

RNC Corporation Berhad
20/F East Wing Plaza Permata
Jalan Kampar Off Jalan Tun Razak, 50400 Kuala Lumpur Wilayah
Persekutuan
Malaysia
Telephone: +60 3 4043 9411
Telephone: +60 3 4043 1233


SRI HARTAMAS: Terminates Reconstruction Deal
--------------------------------------------
Sri Hartamas Berhad (SHB) set out below its monthly report
(September 2004) on the status of its plan to regularize its
financial condition:

"On behalf of SHB, Commerce International Merchant Bankers
Berhad had on 1 October 2004 announced that SHB had informed
FACB Resorts Berhad (FACB) of its decision to terminate the
Reconstruction Agreement between SHB, FACB and Hartamas Group
Berhad dated 23 May 2001 as amended, varied and modified by the
Deed of Adherence and the First Supplemental Agreement both
dated 25 September 2001, the Second Supplemental Agreement dated
20 March 2003 and the Supplemental Letter dated 30 May 2003
(collectively the Agreements) in relation to the Proposed Scheme
of Arrangement of SHB.

The decision to terminate the Agreements was because of non-
fulfillment by FACB of certain conditions precedent in the
Agreements and certain conditions imposed by the Securities
Commission in its approval letters for the Proposed Scheme of
Arrangement of SHB.

In relation thereto, the Special Administrators of SHB will now
consider other available options after taking into consideration
the position of the Company.

CONTACT:

Sri Hartamas Berhad
8 Jalan Yap Kwan Seng
Kuala Lumpur, KUALA LUMPUR 50450
MALAYSIA
+60 3 2167 0600
+60 3 2162 0212

This announcement is dated 1 October 2004.


TANJONG PUBLIC: Posts Details of Principal Officer's Dealings
-------------------------------------------------------------
Tanjong Public Limited Company announced that further to the
notification of intention to deal in the shares of the Company
by Lee Siew Lan, a Principal Officer, during a Closed Period
announced on 1 September 2004, the Company has been notified on
October 1, 2004 the following dealing by her during a Closed
Period pursuant to Paragraph 14.08 (c) of the Listing
Requirements of Bursa Securities:

(i) That she has disposed in the open market of the Bursa
Securities, 30,000 shares of 7.5 pence each in Tanjong
representing 0.007% of the issued share capital of Tanjong as at
the date of the transaction;

(ii) Date of transaction - 17 September 2004; and

(iii) Transaction price - RM13.00 per share of 7.5 pence each.

CONTACT:

Tanjong Public Limited Co.
Principal Office in Malaysia
Level 30, Menara Maxis
Kuala Lumpur City Centre
50088 Kuala Lumpur
Telephone: 03-23813388
Fax: 03-23813399


TRU-TECH HOLDINGS: Reveals Regularization Plan
----------------------------------------------
Tru-Tech Holdings Berhad is in the process of finalizing a
comprehensive restructuring plan to regularize its financial
condition.

Pursuant to Tru-Tech's announcement dated 27 February 2004
(First Announcement), the Company is required to announce its
detailed plan to regularize its financial condition within six
(6) months from the date of the First Announcement, i.e. 27
August 2004. However, Bursa Securities had vide its letter dated
25 August 2004 approved an extension of time for a period of
three (3) months from 28 August 2004 to 27 November 2004 for
Tru-Tech to announce the detailed plan to regularize its
financial condition. The details of the restructuring plan will
be announced once it is finalized.

Avenue, on behalf of the Board of Directors of Tru-Tech, wishes
to announce that there has been no material development in
respect of the Company's plan to regularize its financial
position since the announcement dated 1 September 2004.

CONTACT:

Tru-Tech Holdings Berhad
Lot 45, Batu 12, Jalan Johor Bahru
Kota Tinggi, Mukim Plentong,
81800 Ulu Tiram, Johor
Malaysia
Telephone  (60) 3 7861 5220
Fax  (60) 3 7861 7972

This announcement is dated 1 October 2004.


UNITED CHEMICAL: Reschedules Court Meeting to December 3
--------------------------------------------------------
The High Court of Malaya in Ipoh had, on 20 September 2004,
extended the Court Order for United Chemical Industries Berhad
(UCI) to hold its court convened meetings pursuant to Section
176(1) of the Companies Act 1965 to 3 December 2004. The said
extension was granted for a period of three (3) months from 3
September to 3 December 2004.

Meanwhile, UCI is in the process of finalizing its Explanatory
Statement-cum-Circular to seek the shareholders' and creditors'
approvals.

There is no other major development to the Proposed
Restructuring of UCI.

CONTACT:

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

This announcement is dated 1 October 2004.


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


COLLEGE ASSURANCE: Did Not Violate Rules, Says SEC
--------------------------------------------------
College Assurance Plans Philippines, Inc. (CAP) did not violate
the suspension order issued by the Securities and Exchange
Commission (SEC) when it allowed clients to pay in advance for
plans that would be issued only when the company is allowed to
again sell securities, the Business World reports, citing SEC
Chairman Fe Barin.

Ms. Barin said that technically, the pre-need firm did not
violate SEC's suspension order since the order only prohibits
CAP from selling plans.

The SEC, in the order issued on August 13, suspended CAP's
dealer's license, effectively barring the company from selling
additional plans to the public. However, industry sources said
the SEC has been receiving reports CAP continued to sell plans
even after the August 13 order was issued.

CAP First Vice-President Bobby Cafe denied CAP has been selling
plans after August 13, but said the firm, upon the insistence of
its clients, is accepting deposits from clients who wish to
purchase pre-need plans, which are yet to be issued.

In the meantime, Ms. Barin said, CAP continues to operate to
service existing plans.

CONTACT:

College Assurance Plans Phils. Inc.
CAP I Building
126 Amorsolo cor. Herrera Streets
Legazpi Vill., Makati City
Phone: 817-6586, 759-2000
Fax: (0632) 818-0560


DMCI HOLDINGS: Posts Changes in Director's Shareholding
-------------------------------------------------------
Mr. Cesar A Buenaventura, Director of DMCI Holdings Inc.,
disposed additional shareholdings of 330,000 common shares in
the Company via separate transactions in the Philippine Stock
Exchange indicated below:

Cesar A.Buenaventurs
Summary of Sold DMC Shares

Date              Unite Price         Volume

September 9, 2004   2.20              50,000

Total                                 50,000

CONTACT:

DMCI Holdings Inc.
3/F, Dacon Building
2281 Chino Roces Ave. Ext.
Makati City 1231
Tel. No:  888-3000
Fax No:  816-7362
E-mail Address:  dmcihi@dmcinet.com
URL:  http://www.dmchi.com
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Securities Transfer Services, Inc.


PHILIPPINE AIRLINES: May Add Nagoya To Its Destinations In Japan
----------------------------------------------------------------
Philippine Airlines, Inc. (PAL) plans to fly to the Nagoya
airport in Japan early next year, the Business World reports,
citing PAL President Jaime Bautista.

Mr. Bautista said plans are already underway after Japan granted
the Philippines' 14 additional coefficients or entitlements
granted by Japan to the Philippines last September. Philippine
Transport and Communications Secretary Leandro Mendoza earlier
said the additional coefficients are open for both passenger and
cargo flights.

The national carrier is mulling additional charges for
passengers flying to foreign destinations to cover rising fuel
cost. PAL asked for a $6-fuel surcharge in June.

Last week, it said it was considering asking for another
surcharge due to the continued rise in crude prices.

CONTACT:

Philippine Airlines
PAL Center Bldg.
Legazpi St., Legaspi Village
Makati City, Philippines 0750
Tel: (632) 817-1234
Tel: (632) 892-4856
Fax: (632) 813-6715
E-mail: chris_cardiente@pal.com.ph


PHILIPPINE LONG: Clarifies "Smart In Talks With Telcos" Report
--------------------------------------------------------------
This is in reference to the news article entitled "Smart in
talks with Singapore telco for OFW service" published in the
October 4, 2004 issue of BusinessWorld (Internet Edition). The
article reported, "Smart Communications, Inc., the country's
leading mobile phone operator, is in talks with Singapore's
Mobile One Ltd. for a possible tie up.

Sources said talks are focused on the same arrangement forged
between Smart's parent, Philippine Long Distance Telephone Co.
(PLDT), and Hong Kong's CSL Ltd. Sources said Smart is expected
to bring its 1528 Smart service to Singapore to allow Filipinos
there cheaper cellular communication access to their family and
friends in the Philippines. Sources said that after Singapore,
Smart would bring the 1528 service to Italy, another huge market
for overseas Filipino workers.

"Philippine Long Distance Telephone Company (TEL), in its letter
dated October 4, 2004, advised the Philippine Stock Exchange
(PSE) that:

" We are examining possible opportunities in various areas where
there are large overseas Filipino communities to provide
services similar to the 1528 Smart service currently being
offered in Hong Kong. Discussions with other carriers are still
in the exploratory stage and it is premature at this point for
us to discuss this matter in any detail."

For your information.
(Original Signed)
JURISITA M. QUINTOS
Senior Vice President - Operations Group

CONTACT:

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


PHILIPPINE LONG: Issues Additional Listing of Shares
----------------------------------------------------
Philippine Long Distance Telephone Co. (TEL.PH) listed on Monday
2,914 common shares issued under its executive stock option
plan, Dow Jones reports. The new shares will raise the Company's
total option shares listed on the Philippine Stock Exchange to
275,800 shares.


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


BENG TIONG: Court to Hear Winding Up Petition     
---------------------------------------------
Notice is hereby given that a Petition for the winding up of
Beng Tiong Trading, Import & Export (1988) Pte Ltd by the High
Court was on the 27th day of September 2004 presented by
United Overseas Bank Limited of 80 Raffles Place, UOB Plaza 1,
Singapore 048624, a creditor.

The said Petition is directed to be heard before the Court
sitting at 10.00 o'clock in the forenoon, on Friday, the
22nd of October, 2004.

Any creditor or contributory of the said Company desiring to
support or oppose the making of an order on the said Petition
may appear at the time of the hearing by himself or his Counsel
for that purpose. A copy of the said 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.

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

The Petitioner's Solicitors are Drew & Napier LLC of 20 Raffles
Place, #17-00 Ocean Towers, Singapore 048620.

Drew & Napier LLC
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to Drew & Napier LLC
a notice in writing of his intention to do so. The notice must
state the name and address of the person, or if a firm, the name
and address of the firm, and must be signed by the person or
firm, or his or their Solicitors (if any) and must be served, or
if posted must be sent by post in sufficient time to reach the
above named, not later than twelve o'clock noon of the 21st day
of October 2004.

This Singapore Government Gazette notice is dated September 1,
2004.


ENID BLYTON: Creditors To Prove Debts by November 1
---------------------------------------------------
Notice is hereby given that the creditors of Enid Blyton (Asia)
Pte Ltd, which is being wound up voluntarily, are required on or
before the 1st day of November 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned, the liquidator of the said Company.

If so required by notice in writing by the said liquidator, they
are to come in personally or by their solicitors and prove their
debts or claims at such time and place as shall be specified in
such notice. In default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

Hamish Alexander Christie
Liquidator
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581

This Singapore Government Gazette notice is dated October 1,
2004.


DAQING PETROCHEMICAL: Creditors Must Submit Claims by November 1
----------------------------------------------------------------
Notice is hereby given that the creditors of Daqing
Petrochemical (Singapore) Pte Ltd, which is being wound up
voluntarily, are required on or before 1st November 2004 to send
in their names and addresses and the particulars of their debts
or claims and the names and addresses of their solicitors (if
any) to the undersigned, the Liquidators of the said Company.

If so required by notice in writing by the said liquidator, they
are to come in personally or by their solicitors and prove their
debts or claims at such time and place as shall be specified in
such notice. In default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

Chia Soo Hien
Ng Geok Mui
Liquidators
c/o BDO International
5 Shenton Way
#07-00 UIC Building
Singapore 068808

This Singapore Government Gazette notice is dated October 1,
2004.


MILLENNIUM QUEST: Creditors Must Prove Debts or Claims
------------------------------------------------------
Notice is hereby given that the creditors of Millennium Quest
Pte Ltd, which is being wound up voluntarily, are required on or
before the 1st November 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned, the Liquidators of the said Company.

If so required by notice in writing by the said liquidator, they
are to come in personally or by their solicitors and prove their
debts or claims at such time and place as shall be specified in
such notice. In default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

Chee Yoh Chuang
Lim Lee Meng
Liquidators.
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423.

This Singapore Government Gazette notice is dated October 1,
2004.


NEPTUNE ORIENT: Posts Notice of Change in Shareholder's Interest
----------------------------------------------------------------
Neptune Orient Lines released on October 1, 2004 at the
Singapore Stock Exchange a notice regarding the change in the
Percentage Level of a Substantial Shareholder's Interest of
Timothy James Rhein.

Part I

(1) Date of notice to issuer: October 1, 2004
  
(2) Name of Director: Timothy James Rhein

(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: October 1, 2004

(2) Name of Registered Holder: Timothy James Rhein
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion

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

No. of shares held before the change: 152,343
As a percentage of issued share capital: 0.01
  
No. of shares which are the subject of this notice: (75,000)
As a percentage of issued share capital: 0.005
  
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: S$2.92
  
No. of shares held after the change: 77,343
As a percentage of issued share capital: 0.005

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: 152,343  
% of issued share capital: 0.01  
   
No. of shares held after change: 77,343  
% of issued share capital: 0.005  


Based on NOL's paid up capital of 1,449,302,876 as at 1 October
2004.

Submitted by:
Ms. Marjorie Wee
Ms. Wong Kim Wah

CONTACT:

Neptune Orient Lines Limited
456 Alexandra Rd., NOL Bldg.
119962 Singapore
Phone: +65-6278-9000
Fax: +65-6278-4900
http://www.nol.com.sg


PRO-CRETE INTERNATIONAL: Enters Winding Up Proceedings
------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Pro-Crete International Pte Ltd by the High Court was on the
22nd day of September 2004 presented by Concrete Paver
Industries Sdn Bhd (Malaysia Co Reg No. 339484P), a company
incorporated in Malaysia and having its registered office at
Suite C-7-10(B), Level 9, Block C, UE3 Corporate Offices, Menara
Uncang Emas, No. 85, Jalan Loke Yew Taman Miharja, 55200 Kuala
Lumpur, a Creditor.

The said Petition is directed to be heard before the Court
sitting at Singapore at 10:00 o'clock in the forenoon, on
Friday, the 15th day of October 2004.

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

The Petitioner's registered address is at Suite C-7-10(B), Level
9, Block C, UE3 Corporate Offices, Menara Uncang Emas, No. 85,
Jalan Loke Yew Taman Miharja, 55200 Kuala Lumpur.

The Petitioner's solicitors are Messrs Lee & Lee of No. 5
Shenton Way, Level 19, UIC Building, Singapore 068808.

Lee & Lee
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to Messrs Lee & Lee,
notice in writing of his intention to do so. The notice must
state the name and address of the person, or, if a firm, the
name and address of the firm and must be signed by the person or
firm or his or their solicitors (if any) and must be served or
if posted, must be sent by post in sufficient time to reach the
above named not later than twelve o'clock noon of the 14th day
of October 2004.

This Singapore Government Gazette notice is dated September 1,
2004.


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


KRUNG THAI: Union Demands Speedy Selection of President
-------------------------------------------------------
Krung Thai Bank Plc's (KTB) labor union is petitioning for a
fast-tracked selection of the bank's next president, according
to Business Day.

The bank's labor union believes the delay in appointing a bank
president could affect the bank's operations, its shareholders
and employees.

"The central bank should as soon as possible come up with a
clear explanation on the issue. If the nominee did the wrong
thing and is disqualified the central bank should accordingly
inform KTB's board of directors so that it can start seeking
other suitable persons for the post," KTB's labor union said in
a statement.

KTB's board approved the reappointment of the bank's former
president Viroj Nualkhair. However, since they have to wait for
a confirmation letter of Mr. Viroj's qualification from the
central bank, they still cannot announce the appointment.

Last week Bank of Thailand obviously expressed that it does not
agree of Mr. Viroj reappointment, it said a new bank president
would be more favorable.

The Bank of Thailand did not provide a reason for objecting the
reappointment of Mr. Viroj.

CONTACT:

Krung Thai Bank Public Company Limited   
35 Sukhumvit Road, Khlong Toei Nua, Wattana Bangkok    
Telephone: 0-2255-2222   
Fax: 0-2255-9391-6   
Website: www.ktb.co.th


MILLENNIUM STEEL: Dissolves and Liquidates Subsidiary
-----------------------------------------------------
Millennium Steel Public Company Limited (MS) informed the Stock
Exchange of Thailand (SET) concerning the resolution of MS's
Board of Directors Meeting dated August 5, 2004, wherein it
agreed to dissolve and liquidate Nakornthai Steel Company
Limited (NSC), MS's subsidiary, which 90 percent of its shares
is indirectly held by N.T.S. Steel Group Public Company Limited
(NTS) and to execute this matter NSC will have to comply with
the legalities later.  At present NSC has a capital in the
amount of THB10 million.

MS also informed the SET that on September 30, 2004, NSC has
already registered its shareholders special resolution of
dissolution to the Department of Business Development, the
Ministry of Commerce. And NSC currently is in the process of
liquidation.

Please be informed accordingly.
Sincerely yours
Millennium Steel Public Company Limited
(Mr. Santi Charnkolrawee)
President

CONTACT:

Millennium Steel Public Company Limited   
Shinawatra Tower 3, Floor 22,
1010 Viphavadi Rangsit Road, Ladyao,
Chatuchak Bangkok    
Telephone: 0-2949-2949   
Fax: 0-2949-2889   
Web site: www.Millenniumsteel.com
  

THAI PETROCHEMICAL: Bangkok Bank's Provisions Remain Unchanged
--------------------------------------------------------------
The provisions Bangkok Bank set aside against Thai Petrochemical
Industry is unlikely to be reversed, says Business Day.

Existing provisions would instead be retained as part of its
general capital reserves, Chairman Chatri Sophonpanich of
Bangkok Bank said.  Bangkok Bank is TPI's largest creditor, with
outstanding loans of THB27 billion.  

TPI's case is schedule for hearing in the Central Bankruptcy
Court on November 1.  The finalization of the case would allow
local banks to reclassify their loans to TPI from non-performing
to normal loans, giving them flexibility to reallocate
provisions to profits.

CONTACT:

Thai Petrochemical Industry Pcl   
Tpi Tower,Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok    
Telephone: 0-2678-5000, 0-2678-5100   
Fax: 0-2678-5001-5   
Web site: www.tpigroup.co.th
  

TONGKAH HARBOUR: Increases Paid-Up Capital
------------------------------------------
Pursuant to the Annual General Meeting (AGM) of Shareholders No.
10/2004 held on 26 April 2004, Tongkah Harbour Public Company
Limited informed the Stock Exchange of Thailand (SET),
shareholders and investors that on 30 September 2004 the company
has registered the increased paid-up capital under private
Placement totaling 50,714,300 shares with the Department of
Business Development, Ministry of Commerce>

The following are the changes in company's paid-up capital:

Capital Registration: THB605,551,570

Divided into: 605,551,570 Shares

Having par value per share of: THB1

Consisting of the amount of

The Ordinary shares of: 605,551,570 Shares

The Preferred share of: 0 Shares

Paid-up capital: THB605,551,570

Divided into: 605,551,570 Shares

Having par value per share of: THB1

Consisting of the amount of     

The Ordinary shares of: 605,551,570 Shares

The Preferred share of: 0 Shares

Yours faithfully
Mr. Chalermchai Martmuang
Secretary to the Executive Board of Directors

CONTACT:

Tongkah Harbour Public Company Limited   
Muang Thai Phatra Office Tower 1,
Floor 7, 252/11 Rachadapisek Road,
Huai Khwang Bangkok    
Telephone: 0-2695-4912-28   
Fax: 0-2695-4901   


TPI POLENE: To Hold Creditors Meeting in November
-------------------------------------------------
TPI Polene Plc (TPIPL) will call for a meeting with creditors in
November to discuss the revision of the rehab plan as well as
the extension of the plan's timeframe, reports Business Day.

"TPIPL and its creditors' committee are under the processes of
the plan's revision in order to extend the timeframe of the
plan. We expect that we will be able to call for a meeting of
all creditors to consider the revised plan by this November,"
TPIPL said in its report to the Stock Exchange of Thailand
(SET).

TPIPL wants to revise its rehabilitation plan to allow it to pay
THB5 billion of unpaid interest to creditors in cash instead of
swapping the debt to capital as originally planned.

Last week the timeframe extension requested by TPIPL was
rejected by the Central Bankruptcy Court, stating the request is
against bankruptcy law since TPIPL has yet to revise its plan.  
According to the court, TPIPL should revise its plan first
before seeking for an extension of time.

CONTACT:

TPI Polene Public Company Limited   
26/56 New Jun Road,
Thungmahamek, Sathon Bangkok    
Telephone: 0-2678-5100, 0-2678-5000   
Fax: 0-2678-5001-5   
Web site: www.tpipolene.com


* BOND PRICING: For the Week 4 October to 8 October 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   60
BIL Finance Ltd                       8.000%    10/15/07    9
BIL Finance Ltd                       8.250%    10/15/04    9
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   10  
Capital Properties NZ Ltd             8.500%     4/15/05    8
Capital Properties NZ Ltd             8.500%     4/15/07    9
Capital Properties NZ Ltd             8.500%     4/15/09    8
Citigold Corp.                       12.000%     3/29/07    1
Consolidated Minerals Ltd            11.250%     3/31/05    2
Djerriwarrh Investments Ltd           6.500%     9/30/09    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                 8.600%     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    7
Fernz Corp Ltd                        8.560%    10/15/06    8
Futuris Corporation Ltd               7.000%    12/31/07    2
Gympie Gold Ltd.                      8.500%     9/30/07    1
Hy-Fi Securities Ltd                  7.000%     8/15/08    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
NPT Capital Ltd                       9.500%    11/30/04   10
Nuplex Industries Ltd                 9.300%     9/15/07    8
Powerco Ltd                           8.150%      9/1/07    8
Powerco Ltd                           8.400%     5/22/07   12
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
Sky Network Television Ltd            9.300%    10/29/49    8
Software of Excellence                7.000%     8/09/07    2
Strathfield Group                    11.000%    12/31/05    1
Structural Systems Ltd               11.000%     6/30/07    1
Sydney Gas Company                   12.000%     4/1/06     1
Tower Finance Ltd                     8.650%    10/15/09    8
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
TrustPower Ltd                        8.500%     3/15/14    8
Urbus Properties Ltd                  9.250%     3/10/07    1
Vision Systems Ltd                    9.000%    12/15/08    2


CHINA
-----  

China Government Bond                  2.900%    5/24/32    64

KOREA
-----  

Korea Electric Power Corporation       7.950%       4/1/96   64


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    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
Fountain View Development Sdn Bhd      3.500%      11/3/06    5
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Grand Central Enterprises Bhd          5.000%      2/17/05    1
Greatpac Holdings Bhd                  2.000%     12/11/08    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    1
I-Bhd                                  5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Killinghall Bhd                        5.000%      4/13/09    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Emas Bhd                      7.000%     11/15/04    1
Kumpulan Jetson                        5.000%     11/28/12    1
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
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 Corp                         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
Sengkang Mall                          8.000%     11/20/12    1
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




                            *********


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 ***