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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

             Monday, October 18, 2004, Vol. 7, No. 206

                            Headlines

A U S T R A L I A

ACE CONCRETORS: To Face Winding Up Proceedings
BUTTON & CO: Voluntarily Winds Up
CUSTOMMAGIC PTY:  Sets October 22 as Date of Final Meeting
FEMALEFIT HEALTH: Sets Final Meeting on October 22
HAHN MANAGEMENT: To Hold Final Meeting on October 22

HIH GROUP: APRA Further Disqualifies Former Directors
HOXALI PTY: Winds Up Voluntarily
IR-VA CONSULTING: Final Meeting Slated for October 22
JERRA INVESTMENTS: To Convene Final Meeting October 22
MAYNE GROUP: U.S. FDA Approves New Drug Application

MITSUBISHI AUSTRALIA: Responses to ABC 7:30 Report
NEWSAGENTS DIRECT: Appoints M.C. Smith as Liquidator
QANTAS AIRWAYS: Hikes Fuel Surcharge
QANTAS AIRWAYS: To Consider 10 Resolutions on October 21 AGM
RESTAB PTY: To Undergo Winding Up Process

SATELLITE GROUP: Jury Finds Director Innocent
SIMPLE FINANCE: Schedules Final Meeting on October 22
SPILLON PTY: Final Meeting Slated for October 22
STRATA UNIT: Enters Voluntary Winding Up Proceedings
THAT'S MONEY: Sets October 22 as Date of Final Meeting

YOUNG ONLINE: To Hold Final Meeting on October 22


C H I N A  &  H O N G  K O N G

ABA TECHNOLOGIES: Faces Winding Up Proceedings
ALBERTO-CULVER LIMITED: Creditors Meetings Set October 18
CAPISCES TRADING: Receives Bankruptcy Order
CAVES BOOKS: Bankruptcy Notice Issued
CHORION ASIA: Creditors to Submit Claims by November 8

DIGITAL NUNET: Winding Up Order Released
DRAGONS KING: Winding Up Petition Made
ELONG INCORPORATED: To Files for NASDAQ Share Listing
GOLDRIVER CORPORATION: Bankruptcy Petition Issued
GREAT IDEA: Winding Up Order Issued

H.K. XINDONGFANG: Court Issues Bankruptcy Order
HOI YIP: Receives Bankruptcy Order
INNOVATOR SYSTEM: Winding Up Petition Set October 27
KIN TAT: Receives Winding Up Order
LANDMARK INDUSTRIAL: Posts Winding Up Notice

M T C INTERNATIONAL: Posts Winding Up Date
SS8 NETWORKS: Creditors Must Prove Debts by November 4
SUN SHING: Bankruptcy Order Released
YING KONG: Members, Creditors Meeting Slated for October 23


I N D O N E S I A

BANK MANDIRI: To Secure Loans From Foreign Banks
BANK PERMATA: PPA Completes Documents for SPA
PERTAMINA: U.S. Diplomats Report Query Dispute with Exxonmobil
* Strategic State Enterprises Should Be Saved, Says Trade Union


J A P A N

ALL NIPPON: JCR Assigns BBB+ to Bonds
DAIEI INCORPORATED: IRCJ Begins Full-scale Asset Evaluation
JAPAN TOBACCO: Eyes M&As, Awaits Tekel Tender
MITSUBISHI FUSO: Joins the 38th Tokyo Motor Show
MITSUBISHI MOTORS: To Resume Ad Activities After Car Launch

TOSHIBA CORPORATION: Forms Foundry Alliance with Xilinx
* Corporate Bankruptcies Fall 10% in September


K O R E A

KOOKMIN BANK: Releases Agenda for Extraordinary Meeting
SSANGYONG MOTOR: Union and SAIC Set to Discuss Conditions


M A L A Y S I A

ANCOM BERHAD: Purchases 3,000 Ordinary Shares
AYER HITAM: Issues Update on Default Status of Unit
BESCORP INDUSTRIES: Unveils Investigative Audit Results
BUKIT KATIL: Securities Classified To PN4 Condition Sector
BUKIT KATIL: Reschedules AGM Meeting to November 1

KEMAYAN CORPORATION: Kerajaan Malaysia Files Suit Against Unit
KSU HOLDINGS: Fixes Court Hearing to December 21
NAIM INDAH: Granted Listing Of 527,200 Ordinary Shares
NAM FATT: Nomination Committee Chairman Resigns
PAN MALAYSIA: Issues Private Placement of Shares

PAN PACIFIC: Releases Default Status Update
SRI HARTAMAS: Terminates Proposed Scheme of Arrangement
TANJONG PUBLIC: Notified of Dealings During Open Period


P H I L I P P I N E S

NATIONAL POWER: Issues Invitation to Bid
NATIONAL POWER: Notes Bidding Notice Schedule
NATIONAL POWER: Government Allows Monthly Power Rate Changes
NATIONAL STEEL: Takeover Deal Fails to Secure BSP Certificate
PHILIPPINE REALTY: Share Trading Suspension Lifted


S I N G A P O R E

CHINATEX TRADING: Enters Winding Up Proceedings
CIRCUITS TECHNOLOGIES: Winding Up Hearing Set October 29
PANPAC MEDIA: Posts Change in Shareholder's Interest
PANPAC MEDIA: Shareholder's Interest Changes
PANPAC MEDIA: Posts Change in Holdings

SINGAPORE TECHNOLOGIES: To Undergo Restructuring
WEE POH: To Hold Ninth Annual General Meeting October 29


T H A I L A N D

CHRISTIANI & NIELSEN: Releases Result of Share Allotment
EASTERN PRINTING: Reports Progress of Rehab Plan
K.C. PROPERTY: Releases Details of Capital Increase
THAI-GERMAN: Releases Reorganization Plan Progress Report
THAI HEAT: Details Conversion of Preferred Stocks

     -  -  -  -  -  -  -  -

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


ACE CONCRETORS: To Face Winding Up Proceedings
----------------------------------------------
Notice is hereby given that at a General Meeting of members of
Ace Concretors Pty Limited (In Liquidation) duly convened and
held at 17 Emmetts Farm Road, Rossmore NSW 2171 on Tuesday, 7
September 2004 at 9:00 a.m., a Special Resolution that the
Company be wound up voluntarily was passed by members and the
undersigned was appointed Liquidator.  The appointment of
Liquidator was confirmed by creditors pursuant to Section 497(1)
of the Corporations Act 2001 at a meeting of creditors held
subsequently that day.

Dated this 21st day of September 2004

P. Ngan
Liquidator
Ngan & Co
Chartered Accountants
Level 5, 49 Market Street,
Sydney NSW 2000


BUTTON & CO: Voluntarily Winds Up
---------------------------------
At a General Meeting of Members of Button & Co Pty Ltd (In
Liquidation) duly convened and held at 12 Victoria Street,
Roseville, on 7 September, 2004 the following Special Resolution
was passed:

That the company be and is hereby Wound Up as a Members
Voluntary Winding Up.

Mr. Hugh C. Thomas of BKR Walker Wayland, Chartered Accountants,
was appointed Liquidator of the company at the Meeting of
Members.

Hugh C. Thomas
Liquidator
BKR Walker Wayland
55 Hunter Street, Sydney


CUSTOMMAGIC PTY:  Sets October 22 as Date of Final Meeting
----------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Custommagic Pty Ltd (In Liquidation) will be held at 103-105
Northbourne Avenue, Turner ACT 2612, on the 22 October 2004 at
9:30 a.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


FEMALEFIT HEALTH: Sets Final Meeting on October 22
--------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Femalefit Health Club Pty Ltd (In Liquidation) will be held at
103-105 Northbourne Avenue, Turner ACT 2612, on the 22 October
2004 at 12:00 p.m. for the purpose of laying before the meetings
the liquidator's final account and report and give an
explanation thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


HAHN MANAGEMENT: To Hold Final Meeting on October 22
----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Hahn Management Pty Ltd (In Liquidation) will be held at 103-105
Northbourne Avenue, Turner ACT 2612, on the 22 October 2004 at
9:00 a.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


HIH GROUP: APRA Further Disqualifies Former Directors
-----------------------------------------------------
The Australian Prudential Regulation Authority has announced the
disqualification of Mr. Rodney Aistrope and Mr. Antony Boulden
from being or acting as a Director or senior manager of a
general insurer or authorized non-operating holding company, or
senior manager or agent of a foreign general insurer.

Mr. Aistrope was Managing Director of HIH (Liability) Pty Ltd in
2000. APRA found that he failed in his duty to act honestly by
complying with instructions from his superiors at HIH to
manipulate financial data with the effect that misleading
September 2000 quarter management accounts were presented to the
HIH Liability and HIH Group Boards. Mr. Aistrope's current
employment status is unknown.

Mr. Boulden was employed by FAI Limited (FAI) in its general
insurance division. APRA found that Mr. Boulden caused
misleading and incomplete data for FAI to be provided to the
company's external actuaries during the period from mid-1997 to
early 1998. This would have contributed to the under-estimation
of claims liabilities by the actuaries and ultimately under-
reserving by FAI, and deceived FAI's external auditors who were
reliant upon the actuaries' estimates. It is understood that Mr.
Boulden is currently not employed in the general insurance
industry.

APRA notes that Mr. William Howard, a former senior executive of
the collapsed HIH Insurance Limited (HIH), was convicted on two
counts of criminal misconduct under Section 184 (2) of the
Corporations Act on 23 December 2003 and was therefore
automatically disqualified from that time from being a director
or senior manager of a general insurer under the Insurance Act
1973.

In addition, APRA notes that Mr. Rodney Adler and Mr. Ray
Williams, former directors of HIH, have been disqualified from
managing any corporation, including a general insurance company.
Those disqualifications were made on 30 May 2002 by the NSW
Supreme Court under sections 206C and 206E of the Corporations
Act. Mr. Adler and Mr. Williams were disqualified for 20 years
and 10 years, respectively.

The Australian Prudential Regulation Authority (APRA) is the
prudential regulator of the financial services industry. It
oversees banks, credit unions, building societies, general
insurance and reinsurance companies, life insurance, friendly
societies, and most members of the superannuation industry. APRA
is funded largely by the industries that it supervises. It was
established on 1 July 1998.APRA currently supervises
institutions holding approximately $1.8 trillion in assets for
20 million Australian depositors, policyholders and
superannuation fund members.

Media and industry inquiries only: Susan Morey
Head of Public Affairs
Australian Prudential Regulation Authority
Telephone: 02 9210 3384
Mobile: 0438 124 524

All other inquiries: APRA Contact Centre
Telephone: 1300 131 060


HOXALI PTY: Winds Up Voluntarily
--------------------------------
Notice is hereby given that at a general meeting of members of
Hoxali Pty Limited, held on 3 September 2004 it was resolved
that the company be wound up voluntarily and that John
Christopher Burke of BDO Chartered Accountants & Advisers, 2
Market Street, Sydney be appointed liquidator.

Dated this 8th day of September 2004

John C. Burke
Liquidator
BDO Chartered Accountants & Advisers
Level 19, 2 Market Street,
Sydney NSW 2000


IR-VA CONSULTING: Final Meeting Slated for October 22
-----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
IR-VA Consulting Pty Ltd (In Liquidation) will be held at 103-
105 Northbourne Avenue, Turner ACT 2612, on the 22 October 2004
at 10:00 a.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


JERRA INVESTMENTS: To Convene Final Meeting October 22
------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Jerra Investments Pty Ltd (In Liquidation) will be held at 103-
105 Northbourne Avenue, Turner ACT 2612, on the 22 October 2004
at 1:30 p.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


MAYNE GROUP: U.S. FDA Approves New Drug Application
---------------------------------------------------
Mayne Group Limited (MAY) advised the Australian Stock Exchange
on Friday that the U.S. Food and Drug Administration (FDA) has
granted final approval for the company's abbreviated New Drug
Application for the generic, injectable anti-cancer drug
Carboplatin.

With this approval, Mayne has started selling Carboplatin in the
US.  This timing is consistent with previous guidance to market.
Mayne's Carboplatin injection presentations are generic
equivalents to Bristol Myers Squibb's Paraplatin, which
generated sales in 2003 of approximately US$780 million
according to IMS data.

Mayne's Group Managing Director and Chief Executive Officer, Mr.
Stuart James said that Carboplatin is an important addition to
the US business' cancer focused drug portfolio, which already
includes Paclitaxel and Pamidronate.

"We are continuing to invest significantly in developing our new
product pipeline for the US market and Carboplatin will be an
important product to have when we sell our broadening portfolio
generic, injectable drugs to our customers," Mr. James said.

Carboplatin is used for the initial treatment of advanced
ovarian cancer in combination with other chemotherapy agents.

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

CONTACT:

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


MITSUBISHI AUSTRALIA: Responses to ABC 7:30 Report
--------------------------------------------------
In response to the airing of the 7:30 Report by the ABC last
night, Mitsubishi Motors Australia Ltd (MMAL) strongly
disapproves the sensational way in which the ABC portrayed not
only Mitsubishi Motors operations in Japan, but also the current
viability of the Australian operations.

The story had nothing new that Mitsubishi Motors had not already
disclosed to the public or consumers with respect to the global
recall of vehicles announced in July 2004 or the charges
relating to former executives of Mitsubishi Trucks.

'I am concerned the ABC report will reflect badly on our
Australian operations,' said MMAL President and CEO, Mr Tom
Phillips.

'While we have undergone our fair share of challenges this year,
our parent company confirmed its commitment to continuing
manufacturing operations here in Australia in May and since then
we have brought out a wide range of new vehicles, including
Colt, Lancer Evolution VIII, Grandis and Outlander that feature
world-leading technology and represent the future face of our
brand.

Although we still have work ahead of us, we are going into high
gear for the launch of our all-new vehicle that replaces Magna
for launch next year. We are investing $600 million in new plant
equipment and technology in preparation for this car.'

Mitsubishi Fuso was the truck and bus division of Mitsubishi
Motors before it was spun off into an independent company in
January 2003.

Furthermore, only one voluntarily recall was made in Australia
as part of the global recall by MMC, 288 WA Starwagons built
before September 1994 was the only vehicle affected.

In May this year MMC confirmed its commitment to its operations
in Australia. Mitsubishi Motors is doing all it can to regain
consumer trust in Japan. Corporate compliance, customer service
and safety are priorities for the Company.

MMAL is disappointed the ABC story focused entirely on the
problems and challenges facing the organisation and did nothing
to mention the ongoing efforts by not only our parent company in
Japan but also by the Australian operations to ensure a
successful turnaround of the business.

For a copy of ABC's 7:30 Report, click on:
http://bankrupt.com/misc/TCRAP_MITSUBISHIAUSTRALIA101504.pdf

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
E-mail: careers@mmal.com.au
Web site: http://www.mitsubishi-motors.com.au



NEWSAGENTS DIRECT: Appoints M.C. Smith as Liquidator
----------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Newsagents Direct Distribution (NZ) Pty Ltd (In Voluntary
Liquidation) duly convened and held on 2 September 2004, a
Special Resolution that the Company be wound up voluntarily was
passed by members and M.C. Smith was appointed Liquidator.

Dated this 8th day of September 2004

M.C. Smith
Liquidator
c/- McGrathNicol+Partners
Level 9, 10 Shelley Street,
Sydney NSW 2000


QANTAS AIRWAYS: Hikes Fuel Surcharge
------------------------------------
Qantas Airways Limited said Friday that it would increase its
fuel surcharge because of the continued escalation in the price
of crude oil.

The surcharge will increase by AU$2, from AU$10 to AU$12 per
sector, for domestic travel and by AU$7, from AU$22 to AU$29 per
sector, for international travel.

The Chief Financial Officer of Qantas Airways, Peter Gregg, said
the airline had made the decision reluctantly.

"However, with jet fuel now at more than US$60 a barrel and
showing no sign of falling, an increase in the airline's fuel
surcharge was unavoidable," he said.

"The hedging we have in place and the higher fuel surcharge will
not cover all of the increased cost of jet fuel," Mr. Gregg
said.

"Qantas will continue to absorb much of this increased cost and
seek greater efficiencies across the business."

Qantas first announced a fuel surcharge in May. It increased its
domestic surcharge from $6 to AU$10 a sector, and its surcharge
on international sectors from AU$15 to AU$22 a sector, in
August.

The AU$12 fuel surcharge for Qantas Domestic, QantasLink,
Jetstar and domestic New Zealand services and the AU$29
surcharge for Qantas International and Australian Airlines
services will be effective on tickets issued and travel
commenced on or after 20 October.

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


QANTAS AIRWAYS: To Consider 10 Resolutions on October 21 AGM
------------------------------------------------------------
The Annual General Meeting (AGM) of Qantas Airways Limited will
be held on Thursday, October 21, 2004 at Brisbane.

The ASA representative attending the meeting will be Robin Bligh
who will be voting undirected proxies according to the
indications made below. You can appoint "Robin Bligh" or
"Australian Shareholders' Association" as your proxy and if an
address is required use PO Box 519, CHATSWOOD NSW 2057.

Please do NOT send your proxy form to the ASA but after
completion lodge it in accordance with the instructions shown on
the form itself.

The Australian Shareholders' Association has indicated its
voting intentions for 10 of the resolution(s) to be considered.

To view the Resolutions to be considered on the AGM, click on:
http://bankrupt.com/misc/TCRAP_QANTASAIRWAYS101504.pdf


RESTAB PTY: To Undergo Winding Up Process
-----------------------------------------
Notice is hereby given that at a General Meeting of Members of
Restab Pty Limited (In Liquidation) duly convened and held at
509/180 Ocean Street, Edgecliff NSW 2027 on Thursday 9 September
2004 at 9:00 a.m. a Special Resolution that the Company be wound
up voluntarily was passed by members and the undersigned was
appointed Liquidator.

The appointment of Liquidator was confirmed by creditors
pursuant to Section 497(1) of the Corporations Act 2001 at a
meeting of creditors held subsequently that day.

Dated this 9th day of September 2004

Gregory J. Parker
Liquidator
Parker Advisory
Level 5, 49 Market Street,
Sydney NSW 2000


SATELLITE GROUP: Jury Finds Director Innocent
---------------------------------------------
Mr. Gregory Joseph Fisher, the former Managing Director of the
failed The Satellite Group Limited (Satellite), has been found
not guilty by a jury in the Sydney District Court on charges
brought by the Australian Securities and Investments Commission
(ASIC).

Mr. Fisher, 39 years old from Edgecliff in NSW, had been charged
with three counts of dishonestly using his position as an
officer of Satellite to gain a financial advantage, and one
count of making a statement he knew to be false or misleading,
in order to obtain a financial advantage.

The charges related to a payment of $250,000 from Satellite to
Sydney Skytour Pty Ltd (Skytour) in October 1999, which ASIC had
alleged was made without the approval, or knowledge of
Satellite's Board of Directors.

Today's not guilty finding concludes ASIC's criminal action
against Mr. Fisher, first commenced in January 2001, relating to
his conduct as a director of Satellite.

On 5 December 2003, Mr. Fisher was found guilty by a jury in the
Sydney District Court on six charges of making improper use of
his position as an officer of Satellite to gain an advantage for
himself.

An ASIC investigation found that between April and June 2000,
Mr. Fisher used $220,000 of Satellite funds to finance his
personal sponsorship of fashion designer, Mr. Alex Perry, during
Mercedes Fashion Week in May 2000. The Board of Directors of
Satellite, whose approval was not sought nor given, had no
knowledge of the transactions.

On 1 June 2004, in the Sydney District Court, Norrish DCJ
directed the jury to deliver not guilty verdicts on four charges
brought by ASIC in relation to his purchase of a Dynacraft 46
foot luxury motor yacht and the sale of an apartment by a
subsidiary of Satellite.

ASIC had alleged that Mr. Fisher made improper use of his
position as an officer of Satellite and made a statement, which
he knew to be false and misleading to gain a financial advantage
for himself by offsetting $250,000 of the purchase price of the
yacht against the sale price of the apartment.

Mr. Fisher will reappear in the Sydney District Court for
sentencing in relation to the six earlier charges of making
improper use of his position as a director of Satellite on a
date to be fixed.

The Commonwealth Director of Public Prosecutions prosecuted
ASIC's criminal actions against Mr. Fisher.


SIMPLE FINANCE: Schedules Final Meeting on October 22
-----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Simple Finance Pty Ltd (In Liquidation) will be held at 103-105
Northbourne Avenue, Turner ACT 2612, on the 22 October 2004 at
1:00 p.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


SPILLON PTY: Final Meeting Slated for October 22
------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Spillon Pty Ltd (In Liquidation) will be held at 103-105
Northbourne Avenue, Turner ACT 2612, on the 22 October 2004 at
11:30 a.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


STRATA UNIT: Enters Voluntary Winding Up Proceedings
----------------------------------------------------
At a General Meeting of Strata Unit Insurance Services Pty
Limited (In Liquidation) duly convened and held at 42 Euryalus
Street, Mosman on 6 September 2004, the following Special
Resolutions were duly passed:

That the Company be wound up as a Members' Voluntary Liquidation
and that the assets of the company may be distributed in whole
or in part to the members in specie should the Liquidators so
desire.

It was further resolved by Ordinary Resolution that K.E. Barton
and D.J. Sellars be appointed as joint and several liquidators.

Dated this 6th day of September 2004

K.E. Barton
D.J. Sellars
Level 5, 31 Market Street,
Sydney NSW 2001


THAT'S MONEY: Sets October 22 as Date of Final Meeting
------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
That's Money Pty Ltd (In Liquidation) will be held at 103-105
Northbourne Avenue, Turner ACT 2612, on the 22 October 2004 at
11:00 a.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


YOUNG ONLINE: To Hold Final Meeting on October 22
-------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Young Online Pty Ltd (In Liquidation) will be held at 103-105
Northbourne Avenue, Turner ACT 2612, on the 22 October 2004 at
10:30 a.m. for the purpose of laying before the meetings the
liquidator's final account and report and give an explanation
thereof.

Dated this 13th day of September 2004

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


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


ABA TECHNOLOGIES: Faces Winding Up Proceedings
----------------------------------------------
Notice is hereby given that a Petition for the winding up of Aba
Technologies Limited by the High Court of Hong Kong was on the
20th day of September, 2004 presented to the said Court by Ma
Shu Fan Rachel of Room 1610, Po Tai House, Po Lam Estate, Tseung
Kwan O, Kowloon, Hong Kong.

The said petition will be heard before the Court at 9:30 a.m. on
the 27th of October 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.

Betty Chan
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 26th day of
October 2004.


ALBERTO-CULVER LIMITED: Creditors Meetings Set October 18
---------------------------------------------------------
Notice is hereby given, pursuant to Section 241 of the Companies
Ordinance, that a meeting of the creditors of Alberto-Culver
(Hong Kong) Limited will be held at 10:00 a.m. on 18th day of
October 2004 at Ferrier Hodgson Limited, 14th Floor, Hong Kong
Club Building, 3A Chater Road, Central, Hong Kong.

In order to appoint a Liquidator and to consider further matters
relevant to the creditors' voluntary winding-up of the above
named Company pursuant to Sections 241, 242, 243, 244 and 251 of
the Companies Ordinance.

Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at Room 1401, Hong Kong Club
Building, 3A Chater Road, Central, Hong Kong not later than 4:00
p.m. on the day before the time appointed for the holding of the
meeting.

Dated this 8th day of October 2004

Graham Hart
Director


CAPISCES TRADING: Receives Bankruptcy Order
-------------------------------------------
Capisces Trading Limited with registered office at 15/F,
Blissful Building, 247 Des Voeux Road, Central, Hong Kong posted
a bankruptcy notice at The Standard on October 8, 2004.

Date of Order: 22 September 2004

Date of Presentation of Petition: 13 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


CAVES BOOKS: Bankruptcy Notice Issued
-------------------------------------
Caves Books (H.K.) Company Limited with registered office at 4B,
G/F, Ferry Street, Yaumatei, Kln posted its Bankruptcy notice at
The Standard on October 8, 2004

Date of Order: 22 September 2004

Date of Presentation of Petition: 13 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


CHORION ASIA: Creditors to Submit Claims by November 8
------------------------------------------------------
Notice is hereby given that the Creditors of Chorion Asia
Limited, which is being voluntarily liquidated, are required on
or before the 8th day of November 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, they
will be deemed to waive all of such debts or claims.

The liquidators will be entitled seven days after the above
date, to distribute the funds available or any part thereof to
the Members.

Dated this 8th day of October 2004

Suen Pui Yee
Iain Ferguson Bruce
Liquidators
11th Floor, Prince's Building
10 Chater Road, Central
Hong Kong


DIGITAL NUNET: Winding Up Order Released
----------------------------------------
Digital Nunet Exchange Limited with registered office at Rm.
1801-02, No. 1 Lyndhurst Tower No.1 Lyndhurst Terrace Central
Hong Kong has received a winding up order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 16 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


DRAGONS KING: Winding Up Petition Made
--------------------------------------
Dragons King Industries Limited with registered office at Room
1202, Block G, 12/F, Phase 2, Kwai Shing Ind Bldg, 42-46 Tai Lin
Pai Road, Kwai Chung, NT announced on October 8 that it has
received a bankruptcy order.

Date of Order: 22 September 2004

Date of Presentation: 16 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


ELONG INCORPORATED: To Files for NASDAQ Share Listing
-----------------------------------------------------
Beleaguered Elong Incorporated is following the steps of
Ctrip.com International Ltd by enlisting in NASDAQ, Xinhuanet
reports. Ctrip.com's shares are up 117 percent from their
December IPO that raised US$75.6 million.

Elong Inc, an online travel service provider in China, aims to
raise about US$59 million, a U.S regulatory firm stated. The
company has tapped the services of Deutsche Bank to sell 4.385
million American Depository Shares (ADS) of the travel sales
provider in an indicated range of US$11.50-US$13.50 apiece,
while existing stake holders will sell some of their stocks
through the listing.

A net proceed of US$40.3 million is expected from the IPO on the
other hand an over-allotment option could propel the value of
the deal to US$68 million.

ELong booked revenue of US$7.3 million in the first half of this
year, 146 percent higher from the previous year. However, it
recorded a net loss of US$653,638 for the first half compared
with a US$408,937 loss in the first half of 2003.


GOLDRIVER CORPORATION: Bankruptcy Petition Issued
-------------------------------------------------
Goldriver Corporation Limited with registered office at No. 49a,
Bonham Road, Hong Kong has received a bankruptcy order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 13 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


GREAT IDEA: Winding Up Order Issued
-----------------------------------
Great Idea Consultants Limited with registered office at Room
602-C, East Ocean Centre, 98 Granville Road, Tsimshatsui East,
Kln has received a bankruptcy order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 11 June 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


H.K. XINDONGFANG: Court Issues Bankruptcy Order
-----------------------------------------------
H.K. Xindongfang (Wing Sun) Trading Company Limited with
registered office at Unit 8, 7/F, Greenfield Tower,
Concordia Plaza, 1 Science Museum Road, Tsimshatsui East, Kln
has received a bankruptcy order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 11 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


HOI YIP: Receives Bankruptcy Order
----------------------------------
Hoi Yip Household Ware Limited with registered office at Flat C
& G, 10/F, Winfield Industrial Bldg, 3 Kin Kwan Street, Tuen
Mun, Nt announced that it has received a bankruptcy order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 13 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


INNOVATOR SYSTEM: Winding Up Petition Set October 27
----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Innovator System Limited by the High Court of Hong Kong was on
the 22nd day of September 2004 presented to the said Court by
Chan Miu Yee Cindy of Room 810, Tin Wan House, Shun Tin Estate,
Kwun Tong, Kowloon, Hong Kong.

The said petition will be heard before the Court at 10:00 am. on
the 27th of October 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.

Betty Chan
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 26th day of
October 2004.


KIN TAT: Receives Winding Up Order
----------------------------------
Kin Tat Engineering (Hk) Limited with registered office at UNIT
1003, 10/F, The Kwangtung Provincial Bank Building, 587-589
Nathan Road, Kln that it has received a winding up order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 16 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


LANDMARK INDUSTRIAL: Posts Winding Up Notice
--------------------------------------------
Landmark Industrial Limited with registered office at Room 1206,
Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kln
posted its winding up notice at The Standard on October 8, 2004.

Date of Order: 22 September 2004

Date of Presentation of Petition: 13 August 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


M T C INTERNATIONAL: Posts Winding Up Date
------------------------------------------
M T C International Limited with registered office at Room 910,
Hunghom Commercial Centre, Tower A, 39 Mau Tau Wei Road,
Hunghom, Kln divulged winding up notice date.

Date of Order: 22 September 2004

Date of Presentation of Petition: 28 July 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


SS8 NETWORKS: Creditors Must Prove Debts by November 4
------------------------------------------------------
Notice is hereby given that the Creditors of SS8 Networks Hong
Kong Limited, which is being voluntarily wound up, are required
on or before the 4th day of November 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, they will be deemed to waive all of such
debts or claims and the liquidators will be entitled seven days
after the above date, to distribute the funds available or any
part thereof to the Members.

Dated this 13th day of October 2004

Chiong Lai Lai
Liquidators
Room 1201, Dina House
Ruttonjee Centre
11 Duddell Street, Central
Hong Kong


SUN SHING: Bankruptcy Order Released
------------------------------------
Sun Shing Materials and Development Limited with registered
office at G/F, 75 Wan Tau Street, Tai Po, NT that it has
received a bankruptcy order.

Date of Order: 22 September 2004

Date of Presentation of Petition: 30 July 2004

Dated this 8th day of October 2004

E T O'CONNELL
Official Receiver


YING KONG: Members, Creditors Meeting Slated for October 23
-----------------------------------------------------------
Notice is hereby given that, pursuant to Section 228A of the
Companies Ordinance, that a meeting of the members of Ying Kong
Industrial Group (H.K.) Limited will be held at 10:30 am on 23rd
day of October 2004 at 19th Floor, No. 3 Lockhart Road, Wanchai,
Hong Kong.

It will be followed at 11:30 am by a meeting of the creditors of
the above named company for the purpose of considering and
receiving the latest Statement of Affairs, any nomination of new
liquidator(s) other than the provisional liquidators as
appointed by the company on 2nd October 2004 and also to
consider further matters relating to Creditors' Voluntary
Winding Up of the above named company pursuant to Sections 241,
242, 243, and 244 of the Companies Ordinance.

Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at 19th Floor, No. 3 Lockhart Road,
Wanchai, Hong Kong not later than 12:00 noon 22nd October, 2004.
Dated this 13th day of October 2004

By Order Of The Board
Zhang Lei
Director


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


BANK MANDIRI: To Secure Loans From Foreign Banks
------------------------------------------------
State-owned Bank Mandiri is considering obtaining bilateral
lending from foreign banks to help repay its maturing debts this
year, reports The Jakarta Post.

The bank proposed the move after it decided to scrap plans to
raise the required funds through an overseas bond offer.

Mandiri vice president director I Wayan Pugeg confirmed the
bank's plan, saying Mandiri was likely to seek debt-refinancing
facilities from foreign banks such as the London-based Hongkong
and Shanghai Banking Corporation Limited (HSBC).

"We would prefer to seek bilateral financing for our debts.
Currently, we are still studying proposals from several banks,
mostly foreign banks, such as HSBC," Mr. Pugeg said.

Mandiri needed to refinance between US$300 million and US$400
million debt due this year. The original plan was to service the
loans using the proceeds of a bond issuance worth at least
US$150 million.

According to Mr. Pugeg, the bonds would now be Mandiri's last
resort due to concerns over a possible increase in the global
interest rate, which would create a heavy burden for the bank.

Meanwhile, Mandiri refuses to convert its bad loans in ailing
carrier PT Merpati Nusantara Airline into equity unless other
creditors agreed to do the same. Instead, the bank urged Merpati
to amend its business plan to enable creditors to gain maximum
benefit from the proposed debt to equity conversion.

Mandiri also has huge bad loans in food and beverage firm PT
Suba Indah and in pulp and paper manufacturer PT Kiani Kertas
worth around IDR300 billion and IDR1.76 trillion, respectively.

In the case of Suba Indah, the bank plans to extend the
repayment schedule of the debt principal in order to give the
company a chance to revive its business so it could refinance
its borrowings.

As for Kiani, Mandiri is currently having problems with
commitments made by Kiani's new investo, Novela International,
to provide the company some US$50 million in working capital.
The capital is needed to help revive Kiani's business so that it
can pay debts to Mandiri.

Due primarily to the Kiani bad loans, Mandiri's gross non-
performing loans ratio rose to 8.4 percent from 6.6 percent as
of the first quarter of this year as the bank had to set aside a
huge provision to cover the bad assets.

Mandiri bought the Kiani loans from the now-defunct Indonesian
Bank Restructuring Agency in 2001.

CONTACT:

Jl Jend Gatot Subroto Kav 36-38
Jakarta 12190
Indonesia
Phone: +62 21 5299 7777/5296 4023
Web site: http://www.bankmandiri.co.id


BANK PERMATA: PPA Completes Documents for SPA
---------------------------------------------
The documents related to the sales purchase agreement (SPA) for
the divestment of Bank Permata has been completed by state asset
management company PT Perusahaan Pengelola Asset (PPA), Antara
reports.

According to PPA President Mohammad Syahrial, the SPA would be
signed after the central bank (Bank Indonesia) had finished
conducting a "fit and proper" test on the winning consortium of
Standard Chartered Bank and Astra International.

The SPA contained provisions on various aspects of Bank
Permata's development in the future.

CONTACT:

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


PERTAMINA: U.S. Diplomats Report Query Dispute with Exxonmobil
--------------------------------------------------------------
Two diplomats of the United States reported to the East Java
Legislative Assembly (DPRD) a dispute between state oil firm PT
Pertamina and U.S.-based Exxonmobil regarding oil exploration in
Bojonegoro, Asia Pulse reports.

The U.S. embassy's Political Officer Marc L. Defjardins and U.S.
Consul General in Surabaya Philip Antweiler spoke with DPRD
Chairman Fathorrasjid and DPRD Vice-Chairman Suhartono inside
the Assembly building.

Mr. Fathorrasjid said the two U.S. officials came to clarify the
dispute between ExxonMobil and Pertamina.

"They also reminded us about the need for legal certainty and
asked us to help resolve the dispute," he said.

"The US company was surprised by a recent statement by Pertamina
president director Widya Purnama that the state company wished
to take over oil exploration in Bojonegoro from ExxonMobil while
the US company had already invested a lot of funds in the
region's oil potential," he added.

Mr. Fathorrasjid said he was planning to meet with Pertamina and
ExxonMobil officials to obtain further information on the
dispute in order to avoid possible bias.

The foreign diplomats declined to make a press statement
regarding their visit.

CONTACT:

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


* Strategic State Enterprises Should Be Saved, Says Trade Union
---------------------------------------------------------------
A strategic state company trade union is urging the new
president, Susilo Bambang Yudhoyono, to protect strategic
enterprises from all possibility of being misused, relates
Antara.

"This is our call on Mr.Yudhoyono and we hope strategic state
enterprises will become a pilot project in fighting corruption
cases after he is officially installed as president," Trade
Union Federation (FSP) of Strategic State Enterprises chairman
Syinar Budhi Arta said.

He said his union had prepared three big cases of corruption
worth more than IDR1 trillion against PT Telkom, PT PLN and PT
Pertamina, respectively.

Meanwhile, Deputy Chairman of PKS's faction in The House, Irwan
Prajitno said that the abusing in the state enterprises usually
caused by the last government's policies.

Therefore, he said, the new elected president SBY should made a
Review Team of state enterprise's policy.


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


ALL NIPPON: JCR Assigns BBB+ to Bonds
-------------------------------------
The Japan Credit Rating Agency Limited (JCR) has assigned BBB+
ratings to the two series of bonds to be issued under the shelf
registration of All Nippon Airways Co., Ltd.

Issues       Amount(bln)  Issue Date     Due Date       Coupon
bonds no.20  JPY10        Oct. 27, 2004  Oct. 27, 2011  1.44%
bonds no.21  JPY10        Oct. 27, 2004  Oct. 27, 2014  2.09%
Covenants: Negative Pledge
Commissioned Company: No
Shelf Registration:
Maximum: JPY200 billion
Valid: two years effective from March 26, 2004

Rationale:

JCR announced the affirmation of BBB+ for ANA on October 6,
2004. There have been no significant changes in the operation
and financial structure of the company that affect the rating
since then. The proceeds from sales of the bonds are expected to
be used for capital spending as well as repayment of the
borrowings and redemption of bonds. However, the issues are not
likely to have material impact on the capital structure.

CONTACT:

All Nippon Airways Co., Ltd.
Shiodome City Center,
1-5-2 Higashi-Shimbashi, Minato-ku
Tokyo, 105-7133, Japan
Phone: +81-3-6735-1000
Fax: +81-3-6735-1005
Web site: http://www.ana.co.jp


DAIEI INCORPORATED: IRCJ Begins Full-scale Asset Evaluation
-----------------------------------------------------------
The Industrial Revitalization Corporation of Japan started a
full assessment of the assets of Daiei Incorporated on Thursday,
a day after the ailing firm decided to involve the IRCJ in its
restructuring, reports The Japan Times.

The IRCJ, which formed a team of 250 outside accountants and
lawyers tasked to look into Daiei's books and interview Daiei
President Kunio Takagi and other executives, hopes to finish the
asset evaluation and draft a revival plan by the end of the
year.

The IRCJ has been assessing Daiei's assets since early September
but has made little progress because Daiei has been
uncooperative, insisting on rebuilding itself on its own with
the help of private sponsors.

Business continued as usual at Daiei's Tokyo office in Minato
Ward where Mr. Takagi convened a meeting with the firm's
executives to explain his decision. He also sent an e-mail
message to all Daiei employees, asking them to try to make
stores that will be "loved by customers more than ever."

Seiken Sugiura, deputy chief Cabinet secretary, told a news
conference that it is a "very good thing" that Daiei has decided
to work through the IRCJ.

On Wednesday, Daiei decided to turn to IRCJ for help after
months of bickering with its three main creditors UFJ Bank,
Sumitomo Mitsui Banking Corporation and Mizuho Corporate Bank.

The three lenders had pressured Daiei to seek IRCJ's support to
help expedite their bad-loan write offs. An IRCJ-led
restructuring program would boost Daiei's creditworthiness and
allow lenders to upgrade billions of yen of remaining Daiei
loans, now judged as nonperforming.

Daiei, a recipient of two bailouts by its creditor banks in 2001
and 2002, initially planned to seek private company support,
fearing that approaching the IRCJ would mean losing its control
over the revival process.

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
Web site: www.daiei.co.jp


JAPAN TOBACCO: Eyes M&As, Awaits Tekel Tender
---------------------------------------------
Japan Tobacco has considered mergers and acquisitions (M&A) as a
major option to ensure business growth and help it cope with a
steady slump in the domestic tobacco market, Reuters reports.

Japan Tobacco President and CEO Katsuhiko Honda said the company
is also considering purchasing its rivals' tobacco brands or
regional operations, aside from outright buying of a company.

"Privatization in countries like Turkey is also an important
factor we are closely watching," Honda disclosed.

However, Mr. Honda clarified that Japan Tobacco, best known for
its Camel, Winston, Salem and Mil Seven brands, was not blindly
chasing deals, saying its major aim is to optimize growth in its
existing operations.

CONTACT:

Japan Tobacco Inc.
2-1, Toranomon 2-chome, Minato-ku
Tokyo, 105-8422, Japan
Phone: +81-3-3582-3111
Fax: +81-3-5572-1441
Web site: http://www.jti.co.jp


MITSUBISHI FUSO: Joins the 38th Tokyo Motor Show
------------------------------------------------
Mitsubishi Fuso Truck and Bus Corporation announced in a press
release that it will exhibit a total of three concept models at
the 38th Tokyo Motor Show, to be held at Makuhari Messe from
Wednesday, November 3rd until Sunday, November 7th. Mitsubishi
Fuso will also exhibit a wide range of new technologies
developed to make commercial vehicles safer, more efficient as
well as friendlier to the environment.

Mitsubishi Fuso is currently making every effort to identify and
address every past quality problem. A prominent area related to
these past quality issues will be set up on the stand. The
company's efforts to address the quality issues and reform the
corporate culture will be described in panels, while the
vehicles exhibited at this motor show will be limited to three.

The vehicle exhibit area will feature the Fuso Concept, a
concept truck that proposes an entirely new style of commercial
transport. Other concept models are

(1) the Super Great High Roof Dump Truck that complies with new
Long-term Exhaust Gas Regulations (LEGR), and

(2) the Canter HEV (Hybrid Electric Vehicle), an LEGR-complying
light truck engineered for low-emission, economical performance.

The technology exhibit area will include LEGR-compliant engines
(4M42T and 6M70T), INOMAT-II for Canter light trucks, plus a
pedestrian monitoring system designed to prevent low-speed
accidents involving pedestrians.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_MITSUBISHIFUSO101504.pdf

CONTACT:

Mitsubishi Fuso Truck and Bus Corporation
2-16-4, Kounan,
Minato-ku,Tokyo 108-8285,
Phone: +81-3-6719-4821
Fax: +81-3-6719-0111
Web site: http://www.mitsubishi-fuso.com


MITSUBISHI MOTORS: To Resume Ad Activities After Car Launch
-----------------------------------------------------------
Ailing Mitsubishi Motors Corporation is to resume advertising
following the release of a new model by the end of the month,
says Asia Intelligence Wire.

The decision came on a judgment that the automaker will be able
to gain the understanding of consumers as it has completed
investigations into defect concealment cases dating back 1979.

In order to recover from plunging sales, Mitsubishi Motors will
on October 25 launch the Colt Plus compact wagon, its first new
model in 17 months.

As trials have been going on against the company and its former
executives for the cases such as fatal accidents involving
defective Mitsubishi vehicles, advertising will be increased
little by little to avoid any unpleasant feelings for the
public, Managing Director Akira Kijima said.

Mitsubishi Motors has suspended its ad campaigns since June when
its massive defect cover-ups were made known to the public.

The company has started releasing in late September newspaper
and television ads to apologize to the families of the people
killed in the mishaps and to appeal for understanding of its
efforts to prevent such defect cover-ups from happening again.

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


TOSHIBA CORPORATION: Forms Foundry Alliance with Xilinx
-------------------------------------------------------
Toshiba Corporation (TSE: 6502) and Xilinx, Inc. (NASDAQ: XLNX)
have announced a strategic foundry relationship under which
Toshiba will manufacture Xilinx high-performance field
programmable gate array (FPGA) products.

The companies have already achieved a key milestone with the
successful output of functional 90-nanometer (nm) first silicon
at Toshiba's state-of-the-art 300-mm-wafer manufacturing plant
at Oita, in Kyushu, Japan. Toshiba will start volume
manufacturing in the first quarter of calendar year 2005.

Toshiba and Xilinx attribute first silicon success to their
proven technology expertise as pioneers in the industry's race
to 90nm manufacturing. Both Toshiba and Xilinx were among only a
handful of semiconductor industry leaders delivering 90nm
products in 2003.

As part of the manufacturing agreement, Xilinx will make advance
payments to Toshiba, which will be offset against future wafer
purchases.

CONTACT:

Toshiba Corporation
1-1, Shibaura 1-chome, Minato-ku
Tokyo, 105-8001, Japan
Phone: +81-3-3457-4511
Fax: +81-3-3455-1631
Web site: http://www.toshiba.com


* Corporate Bankruptcies Fall 10% in September
----------------------------------------------
Corporate bankruptcies in Japan dropped 10 percent in September
from a year earlier, marking the 25th consecutive month of
decline, Bloomberg reports.

A report by the Tokyo Shoko Research Limited showed the number
of bankruptcies fell to 1,090 with combined liabilities worth
JPY464.4 billion (US$4.24 billion), down 57 percent from last
year.

Japan has seen its bankruptcies falling as the world's second-
biggest economy bounces back from a third recession since 1991,
which helped companies cut debts and sustain operations.

The Japanese government forecasts a 3.5 percent economic growth
in the fiscal year ending March 31, which would be fastest in
eight years.

Meanwhile, Teikoku Databank America Limited reported that in the
first six months of the current fiscal year, the number of
bankruptcies dipped 18 percent to 6,713 from the same period
last year. The amount of liabilities, on the other hand, fell 42
percent to JPY3.16 trillion.

Companies with liabilities of less than JPY10 million are
excluded from the Tokyo Shoko Research report, which is used by
the government to help assess the country's economic situation.


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


KOOKMIN BANK: Releases Agenda for Extraordinary Meeting
-------------------------------------------------------
Kookmin Bank issued in a press release the agenda for its
extraordinary shareholders' meeting.

Agendum (1) Appointment of an executive director

(a) Nominee for Executive Director

Agendum (2) Approval of previously granted stock options

(a) List of Grantees and the Number of Options
(b) Calculating Stock Options for Executive Vice President
(c) Grant Date
(d) Method of Exercise
(e) Exercise Price
(f) Exercise Period
(g) Adjustment of Exercise Price and the Number of Options
(h) Adjustment Following Resignation

To view the full copy of the Agenda, click
http://bankrupt.com/misc/KOOKMINBANKAGENDA101504.doc

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


SSANGYONG MOTOR: Union and SAIC Set to Discuss Conditions
---------------------------------------------------------
Ssangyong Motor Co.'s labor union was scheduled to hold talks
Friday with representatives of China's Shanghai Automotive
Industry Corp., (SAIC) reports Asia Pulse, citing Yonhap News.

The meeting will discuss the demands of the union regarding the
acquisition of Ssangyong by Shanghai Automotive.  The meeting is
also considered a crucial factor in the sale as workers are
poised to launch a full strike if SAIC rejects their job
guarantee and other demands.

"We stand firm on our position that we will embark on a full
strike if Shanghai Automotive chooses not to accept our
demands," Lee Young-ho, a union spokesman, told Yonhap News
Agency.

A month after SAIC was selected as preferred bidder for the
48.9-percent stake in Ssangyong, the union set out a
precondition, which includes, guarantees of job security
expansion of production facilities and sales networks as well as
increased spending on research and investment. Guarantees of
independent management and the continued use of the Ssangyong
Motor brand are also among them.

Hu Maoyuan, SAIC president promised to maintain and improve
Ssangyong Motor's existing facilities and retain all workers
after the takeover.

However, it remains to be seen whether SAIC will accept some of
the union's tougher demands such as the limited transfer of
Ssangyong Motor's technology to the Chinese automaker.

Due diligence has been done on Ssangyong Motor and is in last-
minute discussions with the South Korean automaker's creditors
on completion of the sale.

Ssangyong Motor has been up for sale since its creditors bailed
it out following the country's 1997-98 foreign exchange crisis.

CONTACT:

Ssangyong Motor Company Limited
150-3 ChilgoE-dong
Pyeongtaek-si, Kyonggi 459-711
Korea (South)
Telephone: +82 31 610 1114
           +82 31 610 3739


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


ANCOM BERHAD: Purchases 3,000 Ordinary Shares
---------------------------------------------
Ancom Berhad announced the details of its shares buy back on
October 14, 2004.

Date of buy back: 14/10/2004

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

Total number of shares purchased (units): 3,000

Minimum price paid for each share purchased (RM): 0.770

Maximum price paid for each share purchased (RM): 0.780

Total consideration paid (RM):

Number of shares purchased retained in treasury (units): 3,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 5,106,500

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

CONTACT:

Ancom Berhad
Level 14, Uptown 1
No. 1 Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Telephone: 03-77252888
Fax: 03-77257791
Web site: http://www.ancom.com.my


AYER HITAM: Issues Update on Default Status of Unit
---------------------------------------------------
Ayer Hitam Tin Dredging Malaysia Berhad issued a monthly update
on its default status in respect of its two wholly owned
subsidiary Pembinaan AHT Sdn Bhd (PAHT) with AmBank Berhad (the
Bank).

The Company has agreed to PAHT's request to defer the repayment
for the interest payment amounting to approximately RM600,363.00
to 31 March 2005 subject to certain conditions to be met.

c.c. Securities Commission

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
MALAYSIA
+60 3 2031 9633
+60 3 2031 6920


BESCORP INDUSTRIES: Unveils Investigative Audit Results
-------------------------------------------------------
On behalf of the Bescorp Industries Berhad (BIB), Commerce
International Merchant Bankers Berhad (CIMB) announced the
summary of the investigative audit findings on the past losses
of BIB and its subsidiaries, which was extracted from the
Investigative Audit Report of PricewaterhouseCoopers Advisory
Services Sdn Bhd (PwC).

For a copy of the investigative audit report, go to
http://bankrupt.com/misc/tcrap_bescorp101504.doc

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


BUKIT KATIL: Securities Classified To PN4 Condition Sector
----------------------------------------------------------
With the auditors' disclaimer opinion in respect of Bukit Katil
Resources Berhad (BKATIL)'s going concern in the audited
financial statements for the financial year ended 30 June 2003,
the Company is an affected listed issuer under Paragraph 2.1 (c)
of Practice Note No. 4/2001 (PN 4) of the Listing Requirements
of Bursa Malaysia Securities Berhad (Bursa Securities).

The Company's obligations pursuant to PN 4 are set out below:

i. Announce the Securities Classified To PN4 Condition Sector
status of its plan to regularize its financial condition on a
monthly basis;

ii. Announce its compliance or failure to comply with a
particular obligation imposed pursuant to PN 4, as and when such
obligation becomes due;

iii. Submit monthly reports to the Bursa Securities as required
under Paragraph 4.1 (d) of PN 4;

iv. Announce a plan to regularize the financial position of
BKATIL within 6 months from the date of this First Announcement
(Requisite Announcement);

v. Submit its plan to regularize the financial position of
BKATIL to the relevant authorities for approval within two (2)
months from the date of the Requisite Announcement or the date
of the First Announcement, whichever is applicable; and

vi. Obtain all approvals necessary for the implementation of the
plan as set out in (iv) above within four (4) months from the
date of the submission of such plan for approval.

Should the Company fails to comply with the obligations set out
in PN 4, the Company may be suspended and/or de-listed from the
Official List of Bursa Securities.

The appointment of a monitoring accountant is not required as
the Company does not fall within the provisions set out in
Paragraph 6.1 of PN 4.

The Board of Directors is in the process of reviewing the
operations and financial position before deciding the way
forward for BKATIL.

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela Pusat Bandar Damansara, Damansara Heights, Kuala
Lumpur 50490 MALAYSIA
Telephone: +60 3 2095 7077
Telephone: +60 3 2094 9940


BUKIT KATIL: Reschedules AGM Meeting to November 1
--------------------------------------------------
The Extraordinary General Meeting of Bukit Katil Resources
Berhad (BKATIL) was adjourned from 14 October 2004 to 1 November
2004 at 9 a.m. to be held at Seasons View, Level 1, Grand
Seasons Hotel, Kuala Lumpur.

Due notice would be given by two shareholders namely
shareholders namely Amsec Nominees (Tempatan) Sdn Bhd and Mr.
Lean Chee Seng.

The adjournment of the EGM arose from an injunction given by the
High Court (on the application of Nyala Kancil (M) Sdn Bhd, a
Substantial Shareholder of BKATIL [the Plaintiff]) such that
Amsec Nominees (Tempatan) Sdn Bhd and Mr Lean Chee Seng (the 1st
and 2nd Defendants), whether by themselves or by their servants,
agents, proxies, a power of attorney, its corporate
representatives or otherwise, be restrained from exercising any
and all rights as a registered shareholder of BKATIL based on or
arising from the shares in BKATIL which are the subject matter
of the Memorandum of Deposit between the Plaintiff and MBF
Finance Berhad dated 9 August 1996 including exercising any
voting rights on such shares in BKATIL until the final disposal
of the action herein or until further order.


KEMAYAN CORPORATION: Kerajaan Malaysia Files Suit Against Unit
--------------------------------------------------------------
The Board of Directors of Kemayan Corporation Berhad hereby
inform Bursa Malaysia Securities Berhad that its subsidiary,
Kemayan Pumpcrete Sdn Bhd had on 14th October 2004 received a
summon from Kerajaan Malaysia, Lembaga Hasil Dalam Negeri (LHDN)
of Tingkat 16, Blok 8A, Kompleks Bangunan Kerajaan, Jalan Duta,
Kuala Lumpur for claiming an outstanding sum of RM28,686.22 in
respect of outstanding tax.

The unit intends to negotiate with LHDN for a settlement
arrangement.

CONTACT:

Kemayan Corporation Berhad
Taman Tasek
Johor Bahru, Johor Bahru 80200
Malaysia
Phone: +60 7 236 2390
Phone: +60 7 236 5307


KSU HOLDINGS: Fixes Court Hearing to December 21
------------------------------------------------
Further to the announcement dated 18 May 2004, KSU Holdings
Berhad announced that the Kuala Lumpur Sessions Court has fixed
the hearing of the suit No. 12-52-26532-03 (S12 Suit) between
Malaysian International Merchant Bankers Bhd versus the Company
on 21 December 2004.

CONTACT:

KSU Holdings Berhad
No. 1116B & C, 2nd & 3rd Floor
Persiaran Raja Muda Musa
41100 Klang
Selangor Darul Ehsan
Tel: 03-33739191
Fax: 03-33747763


NAIM INDAH: Granted Listing Of 527,200 Ordinary Shares
------------------------------------------------------
Naim Indah Corporation Berhad's additional 527,200 new ordinary
shares of RM0.20 each arising from the conversion of 527,200
nominal value of RM0.20 irredeemable convertible unsecured loan
stocks into 527,200 new ordinary shares with effect from 9 a.m.,
Monday, 18 October 2004.

CONTACT:

Naim Indah Corporation Berhad
Jalan Kampar Off Jalan Tun Razak
50400 Kuala Lumpur
Malaysia
Phone: +60 3 4043 9411


NAM FATT: Nomination Committee Chairman Resigns
-----------------------------------------------
Nam Fatt Corporation Berhad announced that Dato' Lim Sze Guan
and Lim Kim Wah has resigned as Chairman of the Nomination
Committee and member of the Remuneration Committee with effect
from 13 October 2004 subsequent to his resignation as Director
of Nam Fatt.

CONTACT:

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

This announcement is dated 14 October 2004.


PAN MALAYSIA: Issues Private Placement of Shares
------------------------------------------------
Further to the announcements dated 1 October 2004, 7 October
2004 and 11 October 2004 in relation to the Private Placement of
81,345,000 new ordinary shares of RM0.50 each in Pan Malaysia
Corporation Berhad representing approximately 10 percent of the
existing issued and paid-up share capital of the company, PM
Securities Sdn Bhd announced that the Board of Directors of Pan
Malaysia Corporation Berhad (PMC) had on 14 October 2004 fixed
the issue price for the third tranche of 5,000,000 new ordinary
shares of RM0.50 each at RM0.50 per share based on a discount of
RM0.08 or 13.79% from the weighted average market price of PMC
shares for the five (5) market days ended 14 October 2004 of
RM0.58.

CONTACT:

Pan Malaysia Industries Berhad
14/F MUI Plaza, Jalan P. Ramlee,
50250 Kuala Lumpur
Malaysia
Telephone (60) 3244-1470
Fax  (60) 3244-7789

c.c. Securities Commission
Attn.: Encik Kris Azman Abdullah

This announcement is dated 14 October 2004.


PAN PACIFIC: Releases Default Status Update
-------------------------------------------
Pan Pacific Asia Berhad (PPAB) announced an update on its
default status as at 30 September 2004 and its subsidiaries in
accordance with the Practice Note 1/2001.

The Company informed that there are no material changes in the
Company's status of default from the date of the last
announcement until 30 September 2004.

For more information, go to
http://bankrupt.com/misc/tcrap_panpacific101504.xls

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


SRI HARTAMAS: Terminates Proposed Scheme of Arrangement
-------------------------------------------------------
Sri Hartamas Berhad (SHB) announced that with the termination of
its proposed scheme of arrangement, it would not be able to
proceed with the Proposed Scheme of Arrangement.

The Special Administrators of SHB intend to conduct an open
tender exercise to invite prospective parties to submit their
proposals for the restructuring of the Company to regularize the
financial condition of the Company.

Notwithstanding the above, if the Special Administrators are
unsuccessful in its efforts to regularize the financial
conditions of the Company, the Company may face delisting
procedures from Bursa Malaysia Securities Berhad (Bursa
Securities) pursuant to Practice Note 4 of the Listing
Requirements of Bursa Securities.

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 14 October 2004.


TANJONG PUBLIC: Notified of Dealings During Open Period
-------------------------------------------------------
Tanjong Public Limited Co. announced to Bursa Malaysia
Securities Berhad that it has been notified of the following
dealings during an Open Period by Yap Swee Hang, a Principal
Officer of the Company pursuant to Paragraph 14.09 (a) of the
Listing Requirements of Bursa Securities:

1. Notification on 14 October 2004:

(a) (i) That he has disposed in the open market of the Bursa
Securities, 10,000 shares of 7.5 pence each in Tanjong
representing 0.002% of the issued share capital of Tanjong as at
the date of the transaction;

(ii) Date of transaction - 8 October 2004; and
(iii) Transaction price - RM12.50 per share of 7.5 pence each.

(b) (i) That he has disposed in the open market of the Bursa
Securities, 10,000 shares of 7.5 pence each in Tanjong
representing 0.002% of the issued share capital of Tanjong as at
the date of the transaction;

(ii) Date of transaction - 12 October 2004; and
(iii) Transaction price - RM12.60 per share of 7.5 pence each.

(c) (i) That he has disposed in the open market of the Bursa
Securities, 18,000 shares of 7.5 pence each in Tanjong
representing 0.004% of the issued share capital of Tanjong as at
the date of the transaction;

(ii) Date of transaction - 12 October 2004; and
(iii) Transaction price - RM12.70 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


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


NATIONAL POWER: Issues Invitation to Bid
----------------------------------------
The National Power Corporation (NPC) invites all Steam Coal
Suppliers/Producers, foreign and local, to apply for eligibility
and to bid for the supply and delivery of steaming coal of Sual
and Masinloc Coal-Fired Thermal Power Plants (CFTPPs) coal
requirements for CY 2005, (Batch 3, Schedule II - Trial Shipment
Program).

ELIGIBILITY CRITERIA:

(1) The Prospective bidder must have a largest single contract
similar to the contract to be bid adjusted to current prices
using the wholesale consumer price index completed within the
period and valued at least fifty percent (50%) of the Approved
Budget for the Contract (ABC).

(2) The Prospective bidder must present a commitment from a
licensed bank to extend to him a Credit Line if awarded the
contract to be bid, or a Cash Deposit Certificate both of which
shall be at least ten percent (10%) of the ABC to be Bid, or
must have a Net Financial Contracting Capacity (NFCC) at least
equal to the ABC.

(3) Only Bids from mine sources whose offered coals have initial
acceptance of Masinloc or Sual Plants will be considered. Coals
with initial acceptance in Masinloc can only offer in Masinloc
while those with initial acceptance in Sual can only offer in
Sual.

The complete sets of eligibility requirements/bidding documents
are available for issuance at the Office of the Bids and
Contracts Services Department (BCSD), NPC, Diliman, Quezon City
with telefax No. (632) 922-1622 or email at
sediamante@napocor.gov.ph upon payment of a non-refundable fee
of Twenty Thousand Pesos (P20,000.00) per mine source.

Registered prospective bidders shall be evaluated as to
eligibility based on a non-discretionary "pass/fail" criteria
prescribed in the eligibility requirements/tender documents.

Source of funding for these requirements is Internal Cash
Generation of National Power Corporation.

The coal volume requirements are tabulated hereunder:

                       CY 2005, BATCH 3, SCHEDULE II
                         (TRIAL SHIPMENT PROGRAM)


OPEN TENDER

SCHEDULE: SCF/MCF3-11-CY05

PLANT: Sual/Masinlock CFTPP

VOL. (MT): 5X65,000

APPROVED BUDGET FOR THE CONTRACT (ABC) in Php: Sual CFTPP-
P253,162,000 per lot/Delivery; Masinloc CFTPP-P260,260,000 per
lot/Delivery

PRE-BID CONFERENCE: Nov.10, 2004 9:30 a.m. Pahiyas Rm.Fiesta
Hall, NPC Building

SUBMISSION OF ELIGIBILITY DOCS/BIDS: Nov. 26, 2004 9:30 A.M.
Moriones Rm. Fiesta Hall, NPC Building.

Forex Rate: US$1.00 = P56.00

Application for Coal Acceptance by Sual/Masinloc CFTPPs shall be
on or before

November 12, 2004 at the Office of the Fuel Management
Department, NPC Building, Diliman, Quezon City.

Application for issuance of Class "A" Documents shall be on or
before November 8, 2004 at the Bids and Contracts Services
Department, NPC Building, Diliman, Quezon City. Prospective
bidders can only offer one (1) panamax shipment as per IB-02 of
Tender Documents. Shipments shall be in panamax vessel size per
delivery schedule. Delivery period shall be from February 2005
to December 2005.

The Bids and Awards Committee (BAC), NPC reserves the right to
reject any bid, and to annul the bidding process and reject all
bids, at anytime prior to award of contract, without thereby
incurring any liability to the affected bidder(s).
Any inquiry regarding the above invitation shall be addressed to
the undersigned.

SILVANO C. ZANORIA
SVP, ME & TMS and
Chairman, Bids and Awards Committee

CONTACT:

National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax: +63-2921-2468

For more information, go to
http://bankrupt.com/misc/tcrap_napocor101504.pdf


NATIONAL POWER: Notes Bidding Notice Schedule
---------------------------------------------
The National Power Corporation (NPC) of the Republic of the
Philippines invites all oil-based fuel suppliers to apply for
eligibility and to bid for the supply and delivery of the oil-
based fuel requirements of NPC, IPPs, Power Barges and SPUG
Power Plants for CY 2005.

ELIGIBILITY CRITERIA:

1. Manufacturers, Suppliers and/or Distributors who shall be
eligible to participate in the bidding may either be a duly
licensed Filipino Citizen; Partnership or Corporation and those
forming themselves into a Joint Venture duly organized under the
laws of the Philippines at least sixty percent (60%) of the
interest of which belongs to Filipino Citizens; Cooperative duly
registered with the Development Authority (CDA); or Foreign
Suppliers, Manufacturers and/or distributors provided that his
government grant similar rights or privileges to citizens of the
Philippines to participate in public biddings (International
laws of Reciprocity).

2. The value of the Prospective bidder's largest single contract
similar to the contract to be bid adjusted to current prices
using the wholesale consumer price index must be at least fifty
percent (50%) of the Approved Budget for the Contract (ABC) to
be Bid.

3. The Prospective bidder must present a commitment from a
licensed bank to extend to him a Credit Line if awarded the
contract to be bid, or a Cash Deposit Certificate which shall be
at least ten percent (10%) of the ABC to be Bid, or must have an
Net Financial Contracting Capacity (NFCC) at least equal to the
ABC to be Bid.

Prospective bidders shall be evaluated as to eligibility based
on a non-discretionary "pass/fail" criteria prescribed in the
eligibility requirements/tender documents. Source of funding for
these requirements is Internal Cash Generation of National Power
Corporation.

The complete sets of eligibility requirements/bidding documents
are available for issuance at the Office of the Bids and
Contract Services Department (BCSD), NPC, Diliman, Quezon City
with Tel. No. 924-5361/922-1622, upon payment of a non-
refundable fee of Ten Thousand Pesos (P10,000.00).

Diesel and Fuel Oil (Bunker "C") requirements are tabulated
hereunder:

Schedule I - Diesel Fuel

PLANT NAME             QUANTITY              APPROVED BUDGET FOR
THE
                       (KLITERS)              CONTRACT (ABC)-IN
PHP

NPC Plants/Barges        4,290                112,506,265
IPP Power Plants/Barges  13,810               341,589,194
SPUG/ME/Power Plants/Barges 11,506            325,101,658
Sub-Total                 29,606              779,197,117

Schedule II - Fuel Oil

PLANT NAME        QUANTITY            APPROVED BUDGET FOR THE
                  (KLITERS)           CONTRACT (ABC)-IN PHP

NPC Plants/Barges   23,043             333,281,181
IPP Power Plants/Barges 178,811        2,563,979,391
SPUG/ME/Power Plants/Barges 7,028      97,941,991

Sub-Total             208,882          2,995,202,563
Grand Total                            3,774,399,680

ACTIVITY DATE

1. Issuance of Eligibility Requirements: October 11, 2004 Tender
Documents

2. Pre-Bid Conference/Time/Venue: October 22, 2004: 9:00
AM/Hariraya Function Room

3. Mock Electronic Submission of Bids: November 5, 2004:
Time/Venue 10:00 AM/E-Bidding Room

4. Submission & Opening of bids/Time/Venue: Schedule I & II:
November 8, 2004
9:00 AM/Hariraya Function Room

The Bids and Awards Committee (BAC), NPC reserves the right to
reject any bid, and to annul the bidding process and reject all
bids, at anytime prior to award of contract, without thereby
incurring any liability to the affected bidder(s).

SILVANO C. ZANORIA
SVP, ME & TMS and
Chairman, Bids and Awards Committee

This Company announcement was dated 8 October 2004.


NATIONAL POWER: Government Allows Monthly Power Rate Changes
------------------------------------------------------------
The Philippine Energy Regulatory Commission will allow power
utilities to automatically adjust their charges without prior
approval through a new set of rules set to take effect next
month, Dow Jones reports.

"In effect, this scraps the Generation Rate Adjustment Mechanism
(GRAM), but there are conditions to be complied with," said ERC
Chairman Rodolfo Albano.

The ERC earlier said it was reviewing GRAM to allow for monthly
adjustments by the National Power Corporation (Napocor) and
Manila Electric Co. (Meralco).

GRAM allows power firms to recover fluctuations in fuel prices
and in the cost of power bought from independent power producers
every three months. An application for an adjustment has to be
filed with the commission for approval.

Under the new rules, the power utilities can implement automatic
rate adjustments to recover power costs without having to seek
approval. However, they will be required to justify any
adjustment, Mr. Albano said.


NATIONAL STEEL: Takeover Deal Fails to Secure BSP Certificate
-------------------------------------------------------------
The sale of National Steel Corporation (NSC) to Global
Infrastructure Holdings Inc. (GIHI) remains in limbo as
concerned parties have failed to secure a certificate of
eligibility from the Bangko Sentral ng Pilipinas (Central Bank
of the Philippines, or BSP), the Business World reports.

Sources said NSC creditor banks had committed to secure a
certificate of eligibility from the BSP by October 8. The
certificate entitles the transaction as eligible under the
Special Purpose Vehicle (SPV) Law of 2002 to avail of tax perks.

Sources said the deal couldn't push through without the crucial
BSP certification. The BSP had earlier approved the PhP13.25-
billion sale of the Iligan-based steel plant as an SPV
transaction.

A BSP official confirmed yesterday that the monetary authority
has not issued the certificate, saying it is "still being
processed."

CONTACT:

National Steel Corporation
NSC Building Street 377 Sen.
Gil J. Puyat Avenue Area
Makati City, Metro Manila


PHILIPPINE REALTY: Share Trading Suspension Lifted
--------------------------------------------------
The Philippine Stock Exchange said the share trading suspension
on Philippine Realty & Holdings Corporation (RLT.PH) will be
lifted on October 21, as the rehabilitation won't affect the
Company's capital structure or result in its re-organization,
Dow Jones reports.

Philippine Realty and Holdings Corporation (RLT) is one of the
leading real estate developers in the country. It was
incorporated on July 13, 1981, but development activities began
only in 1986 when capitalization was increased to P100 million
from the initial Php2 million to accommodate the entry of new
stockholders. Presently, it has an authorized capital stock of
P8 billion divided into 8 billion shares, of which 4.69 billion
shares are outstanding and subscribed.

The Company's main real estate activity since it started
operations has been the development and sale of
residential/office condominium projects and to a limited extent,
the lease of commercial and office spaces.

CONTACT:

Philippine Realty & Holdings Corporation
3/F Magnitude Building
186 E. Rodriguez, Jr. Avenue
Libis, Quezon City
Tel. No:  631-3179 to 80
Fax No:  634-1504
E-mail Address:  philrltv@info.com.ph
Auditor:  C.L. Manabat & Company
Transfer Agent:  Fidelity Stock Transfer, Inc.


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


CHINATEX TRADING: Enters Winding Up Proceedings
-----------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Chinatex (Singapore) Trading Pte Ltd by the High Court was on
the 7th day of October 2004 presented by Bank Of China a bank
incorporated in the People's Republic of China and having its
registered office at 4 Battery Road, Bank of China
Building, Singapore 049908, a creditor.

The Petition will be heard before the Court sitting at Singapore
at 10:00 o'clock in the forenoon on the 29th day of October
2004.

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

The Petitioner's address is 4 Battery Road, Bank of China
Building, Singapore 049908.

The Petitioner's solicitors are Messrs Rajah & Tann of 4 Battery
Road, #15-00 Bank of China Building, Singapore 049908.

Messrs Rajah & Tann
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
Petition must serve on or send by post to the Petitioner's
solicitors, Messrs Rajah & Tann of 4 Battery Road, #15-00 Bank
of China Building, Singapore 049908, 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 Petitioner's
solicitors not later than twelve o'clock noon of 28th October
2004.

This Singapore Government Gazette notice is dated October 15,
2004.


CIRCUITS TECHNOLOGIES: Winding Up Hearing Set October 29
--------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Circuits Technologies (1992) Pte Ltd by the High Court was, on
the 6th day of October 2004, presented by United Overseas Bank
Limited, the successor in-title of Overseas Union Bank Limited,
a Bank incorporated in the Republic of Singapore and having its
registered office at 80 Raffles Place, UOB Plaza, Singapore
048624, a Judgment Creditor.

The said Petition will be heard before the Court sitting at
Singapore at 10:00 o'clock in the forenoon, on the 29th day of
October 2004.

Any creditor or contributory of the said Company desiring to
support or oppose the making of an order on the 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 Company requiring the copy of
the Petition by the undersigned on payment of the regulated
charge for the same.

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

The Petitioner's solicitors are Messrs Lee & Lee of 5 Shenton
Way, #19-00 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 the above named
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 solicitor (if any) and must
be served, or, if posted, must be sent by post in sufficient
time to reach the above named not later than twelve o'clock noon
of the 28th day of October 2004.

This Singapore Government Gazette notice is dated October 15,
2004.


PANPAC MEDIA: Posts Change in Shareholder's Interest
----------------------------------------------------
Panpac Media Group Limited on October 14 released a notice at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Interest of Low Song Take.

Part I

(1) Date of notice to issuer: October 14, 2004

(2) Name of Director/Substantial Shareholder: Low Song Take

(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 13, 2004

(2) Name of Registered Holder: International Press Holdings Pte
Ltd

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

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

No. of shares held before the change: 64,962,588
As a percentage of issued share capital: 13.3685

No. of shares which are the subject of this notice: 1,000,000
As a percentage of issued share capital: 0.2058

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: S$0.12

No. of shares held after the change: 65,962,588
As a percentage of issued share capital: 13.5743

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/Substantial Shareholder, including
direct and deemed interest:

                                            Direct       Deemed
No. of shares held before change:        6,117,647    64,962,588
% of issued share capital:                  1.2589       13.3685

No. of shares held after change:         6,117,647    65,962,588
% of issued share capital:                  1.2589       13.5743

Submitted by:
Ricky Ang Gee Hing
Group MD & CEO


PANPAC MEDIA: Shareholder's Interest Changes
--------------------------------------------
Panpac Media Group Limited on October 14 released a notice at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Interest of International Press Holdings Pte
Ltd.

Part I

(1) Date of notice to issuer: October 14, 2004

(2) Name of Substantial Shareholder: International Press
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: October 13, 2004

(2) The change in the percentage level: From 13.3685% to
13.5743%

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

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

The change in the percentage level is the result of a
transaction.


Part IV

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

                                           Direct      Deemed
No. of shares held before change:      64,962,588
% of issued share capital:                13.3685

No. of shares held after change:       65,962,588
% of issued share capital:                13.5743

Submitted by:
Ricky Ang Gee Hing
Group MD & CEO


PANPAC MEDIA: Posts Change in Holdings
--------------------------------------
Panpac Media Group Limited on October 14 released a notice at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Interest of Low Ka Choon Kevin.

Part I

(1) Date of notice to issuer: October 14, 2004

(2) Name of Director/Substantial Shareholder: Low Ka Choon Kevin

(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 13, 2004

(2) Name of Registered Holder: International Press Holdings Pte
Ltd

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

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

No. of shares held before the change: 64,962,588
As a percentage of issued share capital: 13.3685

No. of shares which are the subject of this notice: 1,000,000
As a percentage of issued share capital: 0.2058

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: S$0.12

No. of shares held after the change: 65,962,588
As a percentage of issued share capital: 13.5743

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/Substantial Shareholder, including
direct and deemed interest:

                                             Direct       Deemed
No. of shares held before change:         1,600,000   64,962,588
% of issued share capital:                   0.3293      13.3685

No. of shares held after change:         1,600,000    65,962,588
% of issued share capital:                  0.3293       13.5743

Submitted by:
Ricky Ang Gee Hing
Group MD & CEO


SINGAPORE TECHNOLOGIES: To Undergo Restructuring
------------------------------------------------
The operational headquarters of Singapore Technologies is to be
shut down by Temasek Holdings, reports Channel News Asia.

The report came after Temasek released its first-ever annual
report. The shareholdings in listed and unlisted companies and
other assets under Singapore Technologies Private Limited (STPL)
are to me transferred to Temasek.

STPL functions as the operational headquarters of the Singapore
Technologies group of companies, which are now listed as
independent entities with their own boards and management.

Meanwhile, all 128 employees of STPL will be laid off and will
be given retrenchment benefits by the end of the year.
Retrenched staff will be reimbursed for courses to support re-
training or acquisition of new skills. Other services like
career workshops and outplacement counseling will also be made
available to all staff.

According to Temasek's executive director and CEO, Ho Ching, the
closure of STPL is part of Temasek's overall effort to manage
its capital structure more efficiently.

For now, STPL president and CEO Peter Seah will become a member
of the Temasek Advisory Panel starting January 1 next year.


WEE POH: To Hold Ninth Annual General Meeting October 29
--------------------------------------------------------
Notice is hereby given that the Ninth Annual General Meeting of
Wee Poh Holdings Limited will be held on Friday, 29 October 2004
at 10:00 a.m. at Carlton Hotel, Empress Room 1, Level 2, 76 Bras
Basah Road, Singapore 189558 for the following purposes:

As Ordinary Business

(1) To receive and adopt the Directors' Report and Accounts for
the year ended 30 June 2004 together with the Auditors' Report
thereon.

(2) To approve the payment of Directors' Fees of S$288,885/- for
the year ended 30 June 2004 (2003: S$108,000/-).

(3) To note that under Article 95 of the Articles of Association
of the Company, the following Directors will retire from office:

i) Mr Lee Kok Swee
ii) Mr Chew Yin What

and the Board is not proposing either of them for re-election.

(4) To re-elect Mr Ng Choon Kiat, as a Director retiring under
Article 91 of the Articles of Association of the Company.

(5) To re-appoint Messrs Deloitte & Touche as Auditors and to
authorize the Directors to fix their remuneration.

As Special Business

(6) To consider and if thought fit, to pass the following
resolution with or without any modification as ordinary
resolution:

"That pursuant to Section 161 of the Companies Act, Chapter 50,
authority be and is hereby given to the Directors of the Company
to issue:

(i) shares in the Company (whether by way of rights, bonus or
otherwise)

(ii) convertible securities

(iii) additional convertible securities arising from adjustments
made to the number of convertible securities previously issued
in the event of rights, bonus or capitalization issues; or

(iv) shares arising from the conversion of convertible
securities, at any time and upon such terms and conditions and
for such purposes as the Directors may in their absolute
discretion deem fit provided that :

(a) the aggregate number of shares and convertible securities
that may be issued shall be not more than 50% of the issued
share capital of the Company as at the date the general mandate
is passed

(b) the aggregate number of shares and convertible securities to
be issued other than on a pro rata basis to existing
shareholders shall be not more than 20% of the issued share
capital of the Company as at the date the general mandate is
passed

(c) for the purpose of determining the aggregate number of
shares that may be issued under sub-paragraphs (a) and (b)
above, the percentage of issued share capital shall be
calculated based on the issued share capital of the Company as
at the date the general mandate is passed after adjusting for
new shares arising from the conversion of any convertible
securities or exercise of any employee share options in issue as
at the date the general mandate is passed and any subsequent
consolidation or subdivision of the Company's shares; and

(v) unless earlier revoked or varied by the Company in general
meeting, such authority shall continue in force only until the
next Annual General Meeting or the date by which the next Annual
General Meeting is required by law to be held, whichever is
earlier."

(7) To transact any other business that may be transacted at an
Annual General Meeting.

By Order Of The Board

Nancy Quek
Company Secretary

Singapore: 14 October 2004

Notes:

(1) A shareholder of the Company entitled to attend and vote at
the Annual General Meeting is entitled to appoint one or two
proxies to attend and vote instead of him/her. Such
proxy/proxies need not be a shareholder of the Company.

(2) An instrument of Proxy or the power of attorney or other
authority (if any) under which it is signed, or a notarially
certified or office copy of such powers of authority must be
valid, must be deposited at the Company's Registered Office at
213 Upper Thomson Road, Singapore 574348, not less than 48 hours
before the time of the Meeting.


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


CHRISTIANI & NIELSEN: Releases Result of Share Allotment
--------------------------------------------------------
CN Advisory Company Limited as the Plan Administrator of
Christiani & Nielsen (Thai) Public Company Limited advised the
Stock Exchange of Thailand the allotment of ordinary shares of
the Company by allocating the Company's profit for dividend
payment.  The result of the allotment of 89,146,102 shares was
to increase the paid-up capital from THB312,015,580 to
THB401,161,682.  The registration was made with the Registrar on
the 13th of October 2004.

Please be informed accordingly.

Yours faithfully,
(Mr. Sommai Ungsrithong)/(Mr. Danuch Yontararak)
CN Advisory Company Limited
As Plan Administrator of
Christiani & Nielsen (Thai) Public Company Limited

CONTACT:

Christiani & Nielsen (Thai) Pcl
50/670 Soi Sukhumvit 105,
Sukhumvit Rd, Bang Na,
Phra Khanong Bangkok
Telephone: 0-2398-0158
Fax: 0-2398-9860
Web site: www.cn-thai.co.th


EASTERN PRINTING: Reports Progress of Rehab Plan
------------------------------------------------
Reference is made to the letter from the Stock Exchange of
Thailand No. BJ.23/2547 dated January 14,2004.  The plan
administrator of Eastern Printing Public Company Limited advised
the Exchange on the progress of the company's business
rehabilitation plan.

(1) Trade Creditors

(1.1) For Debt occurred before year 2001, the Company has been
meeting all its payments to Trade Creditors regularly on time.

(2) Tax Creditor

(2.1) The Company has been meeting all its payments to Revenue
Department monthly on time.  In summary, the Company has
fulfilled all its obligations in accordance with the
Rehabilitation Plan.

For the first six months of 2004, sales has increased by
THB61.56 million and operating profit has increased by THB9.17
million over the same period of the previous year.

Please be informed accordingly.

Very truly yours,
(Mr.Weera Louwitawat),(Ms.Laddawan  Suwapradub)
EPCO Management Co.,Ltd.
Plan Administrator

CONTACT:

Eastern Printing Public Company Limited
51/29 Moo 7, Soi Siamsamakhi,
Talatbangkhen,Don Muang Bangkok
Telephone: 0-2551-0541-4
Fax: 0-2552-0905


K.C. PROPERTY: Releases Details of Capital Increase
---------------------------------------------------
The plan administrator of K.C. Property Public Company Limited
(KC) advised the Stock Exchange of Thailand that it held the
board of directors' meeting No. 52/47 on October 11, 2004 at
9:30 a.m. until 12:00 a.m. to discuss the capital
increase/allocation of the following shares:

(1) The Capital increase

The Board of Directors of Modern Home Planner Company Limited,
the plan administrator of K.C., has approved the increase of
registered capital of KC from THB875 million to THB1,100 million
by public offering.

The increase of capital could happen only after the approval of
the shareholders meeting which will be held on November 17, 2004
and also changing the present THB10 par value to THB5 par value.
With 45,000,000 shares being offered, total capital increase
amounts to THB225 million.

(2) The share allocation

The Board of Directors of Modern Home Planner Company Limited
has approved the allocation of the 45,000,000 newly issued
shares of THB5 per value, totaling THB225 million as follows.

(2.1) Details of share allocation

Allocated to  No. of   Allocation   Selling  Subscription date
and
              shares    Ratio/Share            payment period

Existing      -            -         -                     -
Shareholders

Public       45,000,000    -         -      will be informed at
                                            later date

Any persons  -            -          -                 -

For the exercise  -       -          -                 -
of warrant

(3) Shareholders meeting date to approve the capital increase/
allocation of the shares issued/change if per value.

The company has submitted the application to the bankruptcy
court on September 2, 2004 requesting to exit the rehabilitation
plan.  The court has set November 8, 2004 for the hearing.

As the company has fulfilled the commitments to all the
creditors under the restructured plan the company expects the
court to approve our request on November 8, 2004.

Therefore, the company decided to hold the extraordinary
shareholders meeting No. 1/2004 on November 17, 2004 at 2:00
p.m. at Radisson Hotel, rama 9 Rd. The share registrar will be
closed on October 26,2004 at 12:00 p.m. until the shareholders'
meeting date.  Only those shareholders whose names appear in the
registrar are eligible to attend the meeting.

However, the shareholders meeting could only be held after the
Bankruptcy Court grants the company's exit in the rehabilitation
plan on November 8, 2004.  Should the verdict not be given on
that day for any reasons the shareholders meeting must be
postponed until further notice by the company.

(4) Approval of the capital increase from the relevant
authorities and approving conditions (if any)

The shares offered in the public offering will be offered
whenever the approval thereof has been obtained from the Office
of the Securities and Exchange Commission prior to the offerings
and sales and the draft prospectus in respect thereof has become
effective.

(5) Objectives of the capital increase and usage of the
increased funds.

The funds will be used as working capital and pay off debts from
purchasing properties for housing developments.

(6) Benefits from the capital increase

The Company has developed 4 new housing projects, making more
revenue and profit for the company.

(7) Benefits for the shareholders from the capital increase.

(7.1) Dividend Policy: The company has the policy to pay
dividend not more than 50 percent of net profit.

(7.2) Subscribers who would buy the newly issued shares are
entitled to receive the dividend payment from the 2004
performance.

(7.3) Other.....None.....

(8) Other information, which are necessary for the shareholders
to make decision in approving this capital increase/share
allocation: None

(9) Schedules-in case the company's board of directors approves
the capital increase/allocation of share issued.

The board approved the increase of registered capital: October
11, 2004

The share registrar closing for right of attendant: October 26,
2004 at 12:00 a.m. until the shareholders meeting has ended.

The extraordinary shareholders meeting No.1/2004: November 17,
2004

Subscription and payment for the shares will be informed at a
later date (after the shareholders' meeting).

The company confirms that the information contained in this
report is true and complete.

Sincerely yours,
(Mr. Apisit Ngamachariyakul)
Authorized Director


THAI-GERMAN: Releases Reorganization Plan Progress Report
---------------------------------------------------------
In a disclosure to the Stock Exchange of Thailand, Thai-German
Products Public Company Limited (TGPRO) announced that it is in
the process of following the Amendment of Business
Reorganization Plan # 3 that was approved by the Central
Bankruptcy Court on July 23, 2004.

TGPRO will take option for the force conversion of convertible
debenture number 1 and 2 totaling 130 million units and 17.08
million units respectively within November 2004.

Yours Sincerely,
(Mr.Apinun Ratchatasombat)
Executive Planner Representation

CONTACT:

Thai-German Products Pcl
99 Huaypong-Nongbon Road,
Tambol Huaypong, Amphur Muang Rayong
Telephone: 0-3868-4901-5
Fax: 0-3868-4906
Web site: www.tgpro.co.th


THAI HEAT: Details Conversion of Preferred Stocks
-------------------------------------------------
Thai Heat Exchange Public Co. Ltd. issued to the Stock Exchange
of Thailand a report on the conversion of preferred stocks to be
common stocks.

Thai Heat Exchange Public Co., Ltd. (THECO) has issued
31,408,200 preferred stocks according to the recent financial
restructure and rehabilitation plan that allows the conversion
being done at the end of each quarter.

As September 30, 2004 the company has preferred stocks 6,459,700
shares and paid up common stock 55,526,100 shares

Preferred stocks    Amount (stock) Ratio  Price     New Common
                                         Conversion   Stock

Chatuchak Assets
Management Co,.Ltd

                 854,200           1:1       -       854,200

Bangkok Commercial Asset
Management Co.,Ltd

                 101,400           1:1       -       101,400

By the conversion as mentioned above, it is concluded that the
total number of preferred stocks have 5,504,100 stocks and the
paid up common stock then have been changed from 55,526,100
units valued THB555,261,000 to be 56,481,700 units valued
THB564,817,000.

As the reorganization planner of Thai Heat Exchange PLC
Mr.Surin Wanpensakul
Authorized Director

CONTACT:

Thai Heat Exchange Public Company Limited
1364 Ramkhamhaeng Road, Suan Luang Bangkok
Telephone: 0-2318-2478-9, 0-2314-4582, 0-2319-1911-5
Fax: 0-2318-2655, 0-2319-4268
Website: www.thaiheat.com



                            *********


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
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Resnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan, Reiza
Dejito, Peachy Clare Arreglo, Editors.

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

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