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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

             Thursday, October 28, 2004, Vol. 7, No. 214

                            Headlines


A U S T R A L I A

ARISTOCRAT LEISURE: Upgrades Full-year Profit Forecast
BRICE CIVIL: Joint Meeting Slated for November 1
CAPITAL HEALTH: Members Final Meeting Set October 29
CHIRCAN HOLDINGS: Final Meeting Scheduled on October 29
DALNAUT PTY: Sets October 28 as Date of Final Meeting

EMALEN PTY: Faces Winding Up Proceedings
EV STREET: To Undergo Winding Up Process
FEPIKA PTY: Appoints P.J. Fitzgerald as Liquidator
FIGUREWING PTY: Voluntarily Winds Up
FLOORING CONTRACTORS: Members Resolve to Voluntarily Wind Up

KAMILAROI FINANCE: Final Meeting Slated for October 29
KURANO PTY: To Hold Final Meeting on November 1
LASER FINANCE: To Face Winding Up Proceedings
MAHIYA HOLDINGS: Sets Final Meeting on October 29
MYERS-HOLUM INTERNATIONAL: Joint Meeting Set October 28

NATIONAL AUSTRALIA: Irish Pull Out of Race for Assets
NATIONAL AUSTRALIA: Strengthens Governance Frameworks
PRIMELIFE CORPORATION: Unveils Convertible Note Trust Deed
SANTOS LIMITED: 3Q Production Climbs 12%, Revenue Up 26%
VAMUCE PTY.: Winding Up Completed

VILLAGE ROADSHOW: Says Bank Disputes Boswell Bid Claim


C H I N A  &  H O N G  K O N G

BLANDOR INTERNATIONAL: Meetings Set on November 22
CENTRAL HARVEST: Enters Bankruptcy Proceedings
CHINA GAS: Unaware of Reasons for Unusual Shares Movement
CHINA SPECIALISED: Faces Bankruptcy Proceedings
CONDO ENGINEERING: Creditors to Prove Debts by November 11

GOLD WO: Undergoes Bankruptcy Proceedings


I N D O N E S I A

MERPATI NUSANTARA: Creditors May Ok Debt Settlement Scheme
PERTAMINA: Needs More Than US$200 Mln to Boost Fuel Stock
PERTAMINA: To Import Diesel Fuel from Russia


J A P A N

ALL NIPPON: To Operate Cargo Flights to China from Chubu
IZUMIYARYOKAN Y.K.: Enters Bankruptcy
MITSUBISHI MOTORS: Sales Slump Unlikely to End Soon
SAN-AI OIL: R&I Downgrades L-T Debt Rating to BBB-
TEKKEN CORPORATION: JCR Affirms BBB- on Bonds

UFJ HOLDINGS: Unit to Offer Investment Annuity
* New Bankruptcy Law a Boon for Business


K O R E A

DAEWOO HEAVY: Chooses Doosan as Preferred Bidder
JINRO LIMITED: Jinro Ballantines Expresses Interest to Bid
LG CARD: Lotte Denies Imminent Settlement Over Rate


M A L A Y S I A

ANCOM BERHAD: Releases Shares Buy Back Notice
CONSOLIDATED FARMS: Named Defendant by LBB Building
CONSOLIDATED FARMS: Answers Winding Up Petition Query
DIJAYA CORPORATION: Unit Faces Winding Up Proceedings
GOLDEN FRONTIER: Issues Shares Buy Back Notice

MANGIUM INDUSTRIES: Unveils Monthly Production Figures
MANGIUM INDUSTRIES: Unit Defaults in Debt Payments
MBF CORPORATION: Unit Enters Into Deal With Shahwira Holdings
POS MALAYSIA: Appoints Non-Executive Director
SRIWANI HOLDINGS: SC OKs Restructuring Proposal

SRIWANI HOLDINGS: To Strike Out Property Disposal Scheme
TRANSOCEAN HOLDINGS: Unveils 2004 Quarterly Report
TRANSOCEAN HOLDINGS: AGM Set on November 18


P H I L I P P I N E S

COLLEGE ASSURANCE: Barred From Selling Pension Plans
COLLEGE ASSURANCE: In Talks With Local Investor Group
MANILA ELECTRIC: Releases 3rd Quarter Report
NATIONAL POWER: Govt Delays First Auction of Masinloc Plant
NATIONAL POWER: Vivant Withdraws Loboc Power Plant Bid

PHILIPPINE REALTY: Notes Unusual Market Movement


S I N G A P O R E

ASSOCIATED ASIAN: Issues First and Final Dividend Notice
CONTROL TECHNOLOGY: Creditors To Prove Debts by November 22
LAM LEONG: Creditors Must Submit Claims by November 24
LIAN HUAT: Receives Winding Up Order
PRO-CRETE INTERNATIONAL: Winding Up Order Issued

WEE POH: Clarifies News Articles
WEE POH: Clarifies Previous Announcement


T H A I L A N D

BANGKOK STEEL: CBC Appoints Planners to Reorganize Business
KRUNG THAI: Former President Files THB200Mln Lawsuit Against BoT
SIAM AGRO: SET Halts Trading of Securities
THAI PETROCHEMICAL: Unveils Result of Subsidiaries' Vote on Plan

     -  -  -  -  -  -  -  -

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A U S T R A L I A
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ARISTOCRAT LEISURE: Upgrades Full-year Profit Forecast
------------------------------------------------------
Aristocrat Leisure Limited (ASX:ALL) yesterday announced that
based on preliminary, unaudited management results for October
2004 and current trading momentum, the Company expects to report
a full year profit after tax for the year ending 31 December
2004 in the range of $150 million - $170 million. This compares
with previous guidance of $115 million - $135 million given at
the Company's half-year results in August.

The full year result remains subject to a number of variables,
including:

(1) Confirmation of the final, actual management results for
October 2004;

(2) Final sales of the Company's newly released Japanese game
"Kyojinno-hoshi 2". At this stage, sales of 25,000 - 30,000
units are anticipated;

(3) The timing of product approvals in a number of
jurisdictions;

(4) Trading in November and December;

(5) Any unforeseen hardware/software warranty issues; and

(6) Board, management and audit review of the final full year
financial results.

Commenting on the trading update, the Chief Executive Officer of
Aristocrat, Mr. Paul Oneile, said (Wednesday): "The Company has
continued to build on its core competencies while developing new
opportunities in traditional as well as emerging markets. It is
our intention to build on our strengths as we reinforce our
objective of being the leading global provider of gaming
solutions."

The Company will release its full year results on 22 February
2005.

CONTACT:

Aristocrat Leisure Ltd.
71 Longueville Road,
Lane Cove, Nsw,
Australia, 2066
Head Office Telephone: (02) 9413 6300
Head Office Fax: (02) 9420 1352
Web site: http://www.aristocratgaming.com


BRICE CIVIL: Joint Meeting Slated for November 1
------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
that a joint meeting of the members and creditors of Brice Civil
Engineering Pty Limited (In Liquidation) will be held at the
offices of Smith Hancock, Chartered Accountants, Level 4, 88
Phillip Street, Parramatta on 1 November 2004, at 10:00 a.m.,
for the purpose of having an account laid before them showing
the manner in which the winding up has been conducted and the
property of the Company disposed of, and of hearing any
explanation that may be given by the Liquidator.

Dated this 15th day of September 2004

M.J.M. Smith
Liquidator
Smith Hancock
Chartered Accountants
Level 4, 88 Phillip Street,
Parramatta NSW 2150


CAPITAL HEALTH: Members Final Meeting Set October 29
----------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that a final meeting of members of Capital
Health Pty Limited (In Members' Voluntary Liquidation) formerly
trading as Health Bonus will be held at The Conference Room,
Level 14, 25 Bligh Street, Sydney, New South Wales on Friday, 29
October 2004 at 10:00 a.m. for the purpose of having an account
laid before them showing the manner in which the winding up has
been conducted and the property of the Company disposed of, and
hearing any explanations that may be given by the Liquidator.

Dated this 21st day of September 2004

G.G. Woodgate
Liquidator
Telephone: (02) 9233 6088,
Facsimile: (02) 9233 1616


CHIRCAN HOLDINGS: Final Meeting Scheduled on October 29
-------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Law that a final meeting of members and creditors
of Chircan Holdings Pty Limited (In Creditors' Voluntary
Liquidation) will be held concurrently at The Conference Room,
Level 14, 25 Bligh Street, Sydney New South Wales on Friday, 29
October 2004 at 10:30 a.m. for the purpose of having an account
laid before them showing the manner in which the winding up has
been conducted, and of hearing any explanation that may be given
by the Liquidator.

Dated this 21st day of September 2004

G.G. Woodgate
Liquidator
Woodgate & Co
Telephone: (02) 9233 6088,
Facsimile: (02) 9233 1616


DALNAUT PTY: Sets October 28 as Date of Final Meeting
-----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the Final Meeting of Members of Dalnaut Pty
Limited (In Liquidation) will be held at the offices of A D Hill
& Co, 13th Floor, 84 Pitt Street, Sydney on the 28th of October
2004, at 10:15 a.m. for the purpose of laying before the meeting
the liquidators' final account and report, and giving any
explanation thereof.

Dated this 17th day of September 2004

Anthony David Hill
Liquidator
A D Hill & Co Services Pty Limited
Chartered Accountants
13th Floor, 84 Pitt Street,
Sydney NSW 2000


EMALEN PTY: Faces Winding Up Proceedings
----------------------------------------
Notice is hereby given that at a General Meeting of Members of
Emalen Pty Ltd (In Voluntary Liquidation) duly convened and held
on 15 September 2004, a Special Resolution that the Company be
wound up voluntarily was passed by members and the undersigned
was appointed Liquidator.

Dated this 15th day of September 2004

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


EV STREET: To Undergo Winding Up Process
----------------------------------------
At a General Meeting of EV Street Pty Limited duly convened and
held at 222 Anson Street, Orange on the 31st of August 2004, the
following Special Resolution 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.

Notice is also given that creditors having claim against the
Company should furnish particulars of that claim to the
Liquidator within 21 days of this date, otherwise distribution
of the assets will take place without regard to such claims.

Dated this 31st day of August 2004

Derek C. Pigot
Liquidator
Derek Pigot & Associates
222 Anson Street, PO Box 143,
Orange NSW 2800


FEPIKA PTY: Appoints P.J. Fitzgerald as Liquidator
--------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Fepika Pty Limited (In Voluntary Liquidation) duly convened and
held at Level 3, 63 Market Street, Wollongong NSW 2500 on 10
September 2004, a Special Resolution that the Company be wound
up voluntarily was passed by members and P.J. Fitzgerald was
appointed Liquidator.

Dated this 10th day of September 2004
P.J. Fitzgerald
Liquidator
c/- KPMG
Level 3, 63 Market Street,
Wollongong NSW 2500


FIGUREWING PTY: Voluntarily Winds Up
------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Figurewing Pty Limited (In Liquidation) duly convened and
held on 8 September 2004, the following Special Resolution was
passed:

That the Company be wound up voluntarily and that Geoffrey
McDonald be appointed Liquidator for the purpose of such winding
up.

Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


FLOORING CONTRACTORS: Members Resolve to Voluntarily Wind Up
------------------------------------------------------------
Notice is hereby given that a meeting of members of Flooring
Contractors Pty Ltd (In Liquidation) pursuant to Section 491(1)
of the Corporations Act 2001 duly convened and held on Friday
the 10th day of September 2004 it was resolved that the Company
be wound up voluntarily.

For such purposes Steve Nichols of Nicols & Brien was appointed.
His appointment as Liquidator was confirmed by creditors
pursuant to Section 497(1) at a meeting of creditors held later
that same day.

Dated this 16th day of September 2004

Steven Nicols
Liquidator
Nicols & Brien
Level 2, 350 Kent Street,
Sydney NSW 2000
Telephone: (02) 9299 2289,
Web site: www.bankrupt.com.au


KAMILAROI FINANCE: Final Meeting Slated for October 29
------------------------------------------------------
Notice is given that pursuant to Section 509 of the Corporations
Act 2001, the final meeting of members of Kamilaroi Finance Pty
Ltd (In Liquidation) will be held at the offices of Cameron Kirk
Rose, 3 Glen Innes Road, Inverell on 29 October 2004 at 12:30
p.m., for the purpose of laying before the meeting the
liquidator's final account and report, and giving any
explanation thereof.

Dated this 20th day of September 2004

John Donal Mcrae
Liquidator
Cameron Kirk Rose


KURANO PTY: To Hold Final Meeting on November 1
-----------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the Members and Creditors of
Kurano Pty Limited (In Liquidation) will be held at Ngan & Co,
Level 5, 49 Market Street, Sydney NSW 2000 on Monday, 1 November
2004 at 10:00 a.m.

AGENDA

(1) To receive an account made up by the Liquidator showing how
the winding up has been conducted, the property of the Company
has been disposed of and to receive any explanation required
thereof.

(2) To consider any other business brought before the meeting.

Dated this 20th day of September 2004

P. Ngan
Liquidator


LASER FINANCE: To Face Winding Up Proceedings
---------------------------------------------
Notice is hereby given that the sole shareholder of Laser
Finance Corporation Pty Limited resolved on 15 September 2004
that the Company be wound up as a members' voluntary winding up.

Notice is also given that those creditors having a claim against
the Company should furnish particulars of their claim to the
Liquidator within twenty-one days, otherwise the distribution of
the assets will take place without regard to such claim.

Dated this 15th day of September 2004

R.N. Yabsley
Liquidator
PDY Partners Pty Limited
Level 6, 54 Miller Street,
North Sydney NSW 2060


MAHIYA HOLDINGS: Sets Final Meeting on October 29
-------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Law that a final meeting of members and creditors
of Mahiya Holdings Pty Limited (In Creditors' Voluntary
Liquidation) formerly trading in partnership as Grenadier
Coating will be held concurrently at The Conference Room, Level
14, 25 Bligh Street, Sydney New South Wales on Friday, 29
October 2004 at 10:30 a.m. for the purpose of having an account
laid before them showing the manner in which the winding up has
been conducted, and of hearing any explanation that may be given
by the Liquidator.

Dated this 21st day of September 2004

G.G. Woodgate
Liquidator
Woodgate & Co
Telephone: (02) 9233 6088,
Facsimile: (02) 9233 1616


MYERS-HOLUM INTERNATIONAL: Joint Meeting Set October 28
-------------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a joint meeting of the members and creditors of Myers-
Holum International Pty Ltd (In Liquidation) will be held at the
offices of Horwath Sydney Partnership, Level 10, 1 Market
Street, Sydney NSW 2000, on Thursday, 28 October 2004, at 10:00
a.m., for the purpose of having an account laid before them
showing the manner in which the winding up has been conducted
and the property of the Company disposed of, and of hearing any
explanations that may be given by the Liquidator.

Dated this 17th day of September 2004

G.T. Hancock
Liquidator
Horwath Sydney Partnership
Level 10, 1 Market Street,
Sydney NSW 2000


NATIONAL AUSTRALIA: Irish Pull Out of Race for Assets
-----------------------------------------------------
Potential Irish investors for National Australia Bank's two
Irish assets have withdrawn their interest to acquire the
properties for sale, says The Age.

The retraction still left a number of international banks
scrambling for NAB's Irish banks, which are reportedly eyed by a
major international operation, with a consortium of HBOS and
Barclays and Lloyds rumored to make serious bids.

Since European banking assets have been in strong demand
recently, a major bid from Continental Europe is also expected.

NAB Chief Executive John Stewart, who has tasked British
investment bank Lazard to issue an information memorandum to
gauge market sentiment, said many institutions have expressed
interest in the banks.

It is understood that the memorandum emphasized that the banks
share one Belfast-based management committee, and have a common
technology platform and product range.

NAB has said it wants the banks to be sold together, with a
minimum of delay from regulators.

According to British reports, former contender Bank of Ireland
and Irish Life & Permanent (ILP) could have made a joint bid for
the bank or bid separately and dispose of the part they did not
want. Regulator concerns about increasing market concentration
in a tightly held market could have blocked the deal on
competition grounds, or caused significant delays.

CONTACT:

National Australia Bank Ltd.
Level 24, 500 Bourke Street,
Melbourne, Victoria, Australia, 3000
Head Office Telephone: (03) 8641-4160
Head Office Fax: (03) 8641-4927
Web site: http://www.national.com.au/


NATIONAL AUSTRALIA: Strengthens Governance Frameworks
-----------------------------------------------------
National Australia Bank Director of Finance and Risk, Michael
Ullmer, on Tuesday announced a new finance and risk structure
designed to strengthen the National's governance framework, and
better support the regional business model.

As part of the new structure a Deputy Group Chief Financial
Officer will be appointed reporting to Michael Ullmer and will
join the Group Executive Committee, as will the Group Chief Risk
Officer Mike Hamar.

Chief Financial Officers and Chief Risk Officers will be
appointed in each region and for Institutional Markets &
Services.

The business unit Chief Financial Officers will report to both
the Deputy Group Chief Financial Officer and their business unit
CEO and sit on the finance and business unit leadership teams.

Similarly, the business unit Chief Risk Officers will report to
both the Group Chief Risk Officer and their business unit CEO
and sit on the risk and business unit leadership teams.

"The Financial & Risk Management executive team has clear
governance accountabilities and is aligned with the regional
business model to ensure a strong regional and customer focus,"
Mr. Ullmer said.

"At the regional level, having the finance and risk functions
closer to the businesses will allow us to support quicker
delivery of services to our customers," he said.

For further information:

Brandon Phillips
Group Manager
Group Corporate Relations
03 8641 3857 work
0419 369 058 mobile

Callum Davidson
Head of Group Investor Relations
03 8641 4964 work
0411 117 984 mobile


PRIMELIFE CORPORATION: Unveils Convertible Note Trust Deed
----------------------------------------------------------
Primelife Corporation Limited has released a copy of the Trust
Deed and the Deed of Appointment and Amendment in relation to
the new unsecured Convertible Notes.

To view the full media release, click on:
http://bankrupt.com/misc/TCRAP_PRIMELIFECORP102704.pdf

CONTACT:

Primelife Corporation Limited
ABN 16 010 622 901
Level 2, 210 Kings Way
South Melbourne Vic 3205
Phone: 03 8699 3300
Fax: 03 8699 3399
Web site: http://www.primelife.com.au


SANTOS LIMITED: 3Q Production Climbs 12%, Revenue Up 26%
--------------------------------------------------------
Santos Limited reported that production continued to improve in
the latest September quarter, following the full recommissioning
of the Moomba plant during the period and new production from
Bayu-Undan.

Production has increased strongly with third quarter production
up by 12%, and revenue up 26% compared with the second quarter
to 30 June 2004.

Revenue rose by 9% when compared with the September 2003
quarter, while production declined by 11% as forecast.
Production optimization, acquisitions and new projects continued
to slow the rate of decline.

Revenue for the latest quarter was Santos' highest quarterly
revenue since 2001.  The higher average oil price for the
quarter more than offset the impact of lower sales volumes and
resulted in the Company's sales revenue increasing to $420.3
million compared with $386.4 million in the September 2003
quarter.

The average oil price for the quarter increased to AU$57.36 per
barrel, up 34% over the third quarter of 2003.

Recent performance in quarterly production and sales is depicted
in the chart at the end of this release.

"Lower third quarter production in 2004 was due mainly to
reduced Cooper Basin gas and liquids production as a result of
the Moomba incident and lower firm contracted demand," said
Santos' Managing Director, Mr. John Ellice-Flint.

"Pleasingly, crude oil production from the Cooper increased
against the second quarter and also against the third quarter
last year. This is the highest quarterly production in four
years," he said.

"The Moomba plant was fully recommissioned during the third
quarter. Losses during the quarter will be included in the
Company's insurance claim, which is currently in progress."

Mr. Ellice-Flint said Santos' production outlook for 2004
remained unchanged at 45 to 46 million barrels of oil equivalent
(mmboe) despite higher production losses than first anticipated
from the Moomba incident.

"The rapid development of new projects continues to be a
priority and we have maintained a high level of spending with
third quarter development expenditure of $158.5 million," he
said.

Significant progress on key growth projects was achieved during
the third quarter, including:

(1) The Bayu-Undan LNG project (Darwin) - the pipeline project
which connects the field to the onshore LNG plant is 63%
complete, while the LNG plant is 59% complete and on schedule
for early 2006 start up.

(2) The Mutineer-Exeter oil field development (offshore WA) -
the well completion and sub-sea connection phases commenced
during the quarter, to bring the four successful horizontal
development wells, three of which have been drilled since the
August interim results.  The project is now more than 75%
complete.

(3) The Casino gas field development (offshore Victoria) - has
progressed to formal sanction with the signing of an expanded
gas sales agreement with TXU. Increased volumes available under
the contract have enabled additional exploration drilling which
is now in progress.

(4) The John Brookes gas field project (offshore WA) - is moving
towards first production in mid 2005. An additional gas sales
agreement with EDL has been signed supplementing volumes under
the Newcrest contract.

This quarter marked the start of an active exploration period
for Santos with several potentially high impact exploration
wells spudded. More are planned for the fourth quarter.
Exploration results to date include the successful Torres 1A
well in the United States, which was recently brought onto
production. In the opening weeks of October, the Jeruk 2 well,
which was drilling in the third quarter, was tested with an
encouraging flow of 7,488 barrels of 33 API oil per day through
a 1/2 inch choke at a flowing pressure of 2,762 psi.

CONTACT:

Santos Ltd (NASDAQ (SC)
Level 29, Santos House,
91 King William St.
Adelaide, 5000, Australia
Phone: +61-8-8218-5111
Fax: +61-8-8218-5476
Web site: http://www.santos.com.au


VAMUCE PTY.: Winding Up Completed
---------------------------------
Take notice that the affairs of Vamuce Pty. Limited (In
Voluntary Liquidation) are now fully wound up and that in
pursuance of section 509(1) of the Corporations Law, a general
meeting of the Company is hereby convened on the 29th day of
October 2004 at Level 4, 6-8 Underwood Street Sydney, at 11:00
a.m. for the purpose of laying before it an account showing how
the winding up has been conducted and the property of the
Company disposed of, and giving any explanation thereof.

Dated this 17th day of September 2004

Gregory John Emerson
Liquidator


VILLAGE ROADSHOW: Says Bank Disputes Boswell Bid Claim
------------------------------------------------------
In its announcement of 18 October 2004, Village Roadshow Limited
(VRL) advised that it had received a letter dated 17 October
2004 from Boswell advising that it is working on a proposal (and
has apparently been doing so for the past year) to acquire all
of the ordinary shares in the Company.

In that letter, Hans Brockmann, Managing Director of Boswell,
claimed: "Then, as now, I am serious. I would like to ask that
this letter and our efforts to complete a proposal be dealt with
on that basis.

In this regard Boswell have appointed West LB AG, London Branch
as principal banking advisors..."

The Company has overnight received written advice from West LB
AG, London Branch that contradicts Boswell's claims. The
correspondence from the Managing Director of West LB AG, London
Branch states in its' entirety: "With reference to your recent
letters, we confirm that West LB AG is not acting for Boswell
with respect to VRL."

The Company will continue to implement its stated capital
management objectives in undertaking the buy-back of up to 43
million ordinary shares announced on 18 October 2004.

CONTACT:

Village Roadshow Limited
206 Bourke Street
Melbourne Vic 3000
Australia
Phone: 61 3 9667 6666
Fax: 61 3 9639 1540


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C H I N A  &  H O N G  K O N G
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BLANDOR INTERNATIONAL: Meetings Set on November 22
--------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance, a meeting of the members of Blandor
International Limited will be held at 22nd Floor, Wing On
Centre, 111 Connaught Road Central, Hong Kong on the 22nd day of
November 2004 at 2:30 p.m.

It will be followed by a meeting of the creditors of the Company
to be held at the same place at 2:45 p.m. for the purpose of
receiving an account of the liquidator's act and dealings and of
the conduct of the winding up of the Company during the year
ended 31 August 2004.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote on his behalf. A
proxy need not be a member or creditor of the Company.

Forms of proxies for both meetings must be lodged at 22nd Floor,
Wing One Centre, 111 Connaught Road Central, Hong Kong not later
than 4:00 p.m. on the day before the meetings.

Dated this 21st day of October 2004

Anthony P. S. Lui
Liquidator


CENTRAL HARVEST: Enters Bankruptcy Proceedings
----------------------------------------------
Central Harvest Holdings Limited has entered bankruptcy
proceedings.

Principal Place of Business Rm 1904, 19/F, World Trade Centre,
280 Gloucester Rd, Causeway Bay, Hk

Date of Order: 11 October 2004

Date of Presentation of Petition: 20 May 2004

Lee Mei Yee, May
Acting Official Receiver

This notice was posted at The Standard on October 21, 2004.


CHINA GAS: Unaware of Reasons for Unusual Shares Movement
---------------------------------------------------------
The Stock Exchange has received a message from China Gas
Holdings Limited which is reproduced as follows:

"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

We have noted the recent increases in trading volume of the
shares of the Company and wish to state that we are not aware of
any reasons for such increases.

Save as disclosed in the Company's announcement dated 25 October
2004 relating to the formation of a joint venture Company, we
confirm that there are no negotiations or agreements relating to
intended acquisitions or realizations which are discloseable
under rule 13.23, neither is the Board aware of any matter
discloseable under  the general obligation imposed by rule
13.09, which is or may be of a price-sensitive nature.

Made by the order of the Board of the Company, the directors of
which individually and jointly accept responsibility for the
accuracy of this statement.

By order of the Board of
China Gas Holdings Limited

Liu Ming Hui
Managing Director

This announcement is dated 26 October 2004.


CHINA SPECIALISED: Faces Bankruptcy Proceedings
-----------------------------------------------
China Specialised Fibre Holdings Limited is facing bankruptcy
proceedings.

Principal Place of Business: Rm 1904, 19/F, World Trade Centre,
280 Gloucester Rd, Causeway Bay, Hk

Date of Order: 11 October 2004

Date of Presentation of Petition: 20 May 2004

Lee Mei Yee, May
Acting Official Receiver

This notice was posted at The Standard on October 21, 2004.


CONDO ENGINEERING: Creditors to Prove Debts by November 11
----------------------------------------------------------
Notice is hereby given that the creditors of Condo Engineering
(China) Limited, which is being voluntarily wound up, are
required on or before the 11th of November, 2004 to send in
their names and addresses, full particulars of their debts and
claims, and the names and addresses of their solicitors (if any)
to the undersigned.

If so required by notice in writing from the said Joint and
Several Liquidators, they are to come in either by themselves or
by their solicitors and to prove their said debts or claims at
such time and place as shall be specified in such notice,

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

Dated this 21st day of October 2004

Desmond Chung Seng Chiong
Joint and Several Liquidator
Ferrier Hodgson Limited
14/F., Hong Kong Club Building
3A Chater Road, Central
Hong Kong


GOLD WO: Undergoes Bankruptcy Proceedings
-----------------------------------------
Gold Wo International Holdings Ltd. is undergoing bankruptcy
proceedings.

Principal Place of Business: Unit 5, 34th Floor, Cable Tv
Tower, 9 Hoi Shing Road, Tsuen Wan, Nt

Date of Order: 14 June 2004

Date of Presentation of Petition: 8th January 2003

Lee Mei Yee, May
Acting Official Receiver

This notice was posted at The Standard on October 21, 2004.


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MERPATI NUSANTARA: Creditors May Ok Debt Settlement Scheme
----------------------------------------------------------
The debt settlement plan proposed by embattled carrier PT
Merpati Nusantara Airlines is likely to gain the approval of its
creditors, relates The Jakarta Post.

Merpati privatization manager Hariyadi Supangaket confirmed the
creditors had basically agreed with the debt settlement scheme,
which will be carried out by converting debt into equity.

The creditors deemed the debt-to-equity conversion as the most
feasible option guarantee to return investments in the ailing
carrier.

Mr. Haridayi explained the settlement would ensure the creditors
would get back their money along with the profits earned by the
airline, as the conversion will help boost Merpati's value ahead
of a planned privatization program.

"We expect the creditors and the government will be able to
execute the plan next month, after auditing Merpati's debts, in
order to help speed up the Company's privatization and at the
same time save it from financial difficulties," he said.

Currently, Merpati owes the state IDR225 billion, Garuda
Indonesia IDR246.7 billion, and Bank Mandiri IDR230.3 billion.
It has IDR1.3 trillion (US$144 million) in debts and assets of
IDR775 billion.

After securing approval from the House of Representatives last
month, the government is set to offer 49 percent stake in
Merpati to strategic investors next year. The stake on sale
could be raised to 51 percent if the buyers are local investors.

The debt restructuring and a strategic sale to local and foreign
investors are part of Merpati's restructuring program mapped out
to save it from bankruptcy.

CONTACT:

Merpati Nusantara Airlines
Jl. Angkasa Blok B-15 Kav. 2-3
Jakarta 10720 - Indonesia
Phone: (021) 6548888
Fax: (021) 6540620
E-mail: marketing@merpati.co.id


PERTAMINA: Needs More Than US$200 Mln to Boost Fuel Stock
---------------------------------------------------------
PT Pertamina needs between US$200 million and US$300 million in
order to bolster the national fuel stockpile to a safe level of
23 days, says The Jakarta Post.

"If we can increase the stock, I can sleep soundly," Pertamina
president director Widja Purnama told reporters.

"However, current fuel stock of 20 days is sufficient for daily
needs. The condition is expected to last until the end of the
year," he added.

The state oil and gas firm has formed a fuel task force team to
monitor fuel distribution during and after the Ramadhan
celebration, which contributed to surging fuel demands due to
the influx of people during the festivity.

Indonesia needs 74,000 kiloliters of diesel, 32,000 kiloliters
of kerosene and 44,000 kiloliters of gasoline everyday. In
total, Indonesia consumes 178,000 kiloliters of various types of
fuel.

CONTACT:

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


PERTAMINA: To Import Diesel Fuel from Russia
--------------------------------------------
PT Pertamina will import diesel fuel from Russia as part of a
three-year contract, reveals The Jakarta Post.

The state oil and gas firm will sign an agreement later this
week to buy 600,000 barrels of high-speed diesel a month from
Russian Company WVC.

The said purchase will save Pertamina IDR1 trillion (US$109
million annually.

According to Pertamina head Widja Purnama, the first cargo would
cost more than US$30 million, given the current price of US$50
per barrel.

The import is expected to increase the national fuel stockpile.


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


ALL NIPPON: To Operate Cargo Flights to China from Chubu
--------------------------------------------------------
All Nippon Airways will operate cargo flights from Chubu
Centrair International Airport to Shanghai and Tianjin in China,
reports Kyodo News.

The carrier will service three cargo flights per week to Tianjin
and two flights to Shanghai from the new airport, which is due
to open near Nagoya next February. All the flights will first
depart from Narita International Airport near Tokyo.

ANA decided to introduce the new routes to meet robust demand
for cargo services to China in the central Japan region.

ANA will solely operate flights to Tianjin, while those bound to
Shanghai will be run jointly with Nippon Cargo Airlines Co.

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


IZUMIYARYOKAN Y.K.: Enters Bankruptcy
-------------------------------------
Hotel operator Izumiyaryokan Y.K. has entered bankruptcy with
total liabilities of US$41.63 million, according to Teikoku
Databank America. The firm is based in Nihommatsu-shi, Fukushima
964-0074.

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


MITSUBISHI MOTORS: Sales Slump Unlikely to End Soon
---------------------------------------------------
Mitsubishi Motors Corporation (MMC) is still struggling to
revive sluggish domestic sales despite Monday's release of its
first new vehicle in 17 months, The Asahi Shimbun says.

Hurt by a series of defect cover-up scandals, MMC saw its first-
half sales slide 43.7 percent on year to 95,876 units. The
number of dealers stood at 903 at the end of September, down 26
from six months earlier.

One dealer said he needs fresh and continual capital infusion
from MMC in order to remain competitive. He added he was
relieved when MMC refunded dealers the costs incurred when the
ailing automaker conducted free inspections of vehicles already
sold.

Another dilemma for MMC is the lack of new vehicles in line to
follow this week's release of the Colt Plus.

In the past, MMC relied on the financial aid extended by
Mitsubishi group companies such as Mitsubishi Heavy Industries
Ltd. and trading house Marubeni Corporation whenever it suffered
a sales hiatus.

One executive of a Mitsubishi group firm warned against MMC's
reliance on its affiliates.

"MMC cannot achieve a true revival unless it parts with its
traditional approach of depending on group companies," he said.

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


SAN-AI OIL: R&I Downgrades L-T Debt Rating to BBB-
--------------------------------------------------
Rating and Investment Information, Inc. (R&I), has removed the
following ratings of San-Ai Oil Co., Ltd. from the Rating
Monitor scheme and has downgraded them as follows:

Senior Long-term Credit Rating; Long-term Bonds (2 Series)
R&I RATING: BBB-
(Downgraded from BBB; Removed from the Rating Monitor scheme)

Domestic Commercial Paper Programme
R&I RATING: a-2
(Affirmed; Removed from the Rating Monitor scheme)

RATIONALE:

San-Ai Oil is one of Japan's leading oil products and LPG
distributor, and plans to further strengthen its operating base
through the acquisition of Kygnus Sekiyu K.K. The Company's
airport fuel-related business, involving a monopoly on the
laying and development of hydrant-style oil supply equipment at
Haneda Airport, is a relatively stable source of income for the
Company.

Since construction work opening up the offshore Haneda area in
the 1990s, the Company has not made any large-scale investments
and its revenue returns and financial base have improved. In
recent years, the Company has made numerous investments leading
to increased debt burden, such as entry into the natural gas
market and the acquisition of Kygnus Sekiyu K.K., and this is
anticipated to worsen San-Ai's financial composition. Excessive
competition continues within the oil industry and expansion of
Company scale is not thought to easily lead to increase
profitability or asset productivity.

It is expected that improvement in the financial position of
San-Ai Oil is likely to take some time and has, accordingly,
downgraded San-Ai's Senior Long-term Credit and Longterm Bonds
to BBB-. R&I has affirmed the Company's CP at a-2.

R&I RATINGS:

ISSUER: San-Ai Oil Co., Ltd.
Senior Long-term Credit Rating: BBB- (Downgraded from BBB ;
Removed from the Rating Monitor scheme)

ISSUE:
Bonds Rated   Issue Date     Redemption     Issue Amount(mln)
Unsec. Conv.
Bonds No. 3   Sept 30, 1994  Sept 30, 2005  JPY5,000
Unsec. Conv.
Bonds No. 4   Sept 30, 1994   Sept 28, 2007  JPY8,000
R&I RATING: BBB- (Downgraded from BBB;
Removed from the Rating Monitor scheme)

ISSUE: Domestic Commercial Paper Programme
Issue Limit: JPY 10,000 million
R&I RATING: a-2 (Affirmed; Removed from the Rating Monitor
scheme)

An R&I Senior Long-term Credit Rating is an opinion regarding an
issuer's overall capacity to pay its entire financial
obligations, without taking into account the degree of recovery
of specific obligations.

A Senior Long-term Credit Rating will be assigned to all
issuers. Ratings for individual issues may differ from the
Senior Long-term Credit Rating depending on the terms and
conditions of the issue.

CONTACT:

San-Ai Oil Co., Ltd.
22-5 Higashi-Oi 5-Chome
San-Ai Heiwa Building
Shinagawa-Ku 140-8539, Tokyo 140-8539
Japan
Phone: +81 3 5479 3180
Fax: +81 3 5479 3377
Web site: http://www.san-ai-oil.co.jp/


TEKKEN CORPORATION: JCR Affirms BBB- on Bonds
---------------------------------------------
JCR has affirmed the BBB- rating on the bonds of Tekken
Corporation.

Issues        Amount(bln) Issue Date    Due Date       Coupon
convertible
bonds no.3    JPY15       Feb. 3, 1994  Mar. 31, 2009  1.4%

Rationale:

JCR evaluated highly that Tekken was assuring stable orders for
railway works from East Japan Railway and that alliance with
East Japan Railway and Kajima strengthened the business base.
However, the business environment is severe due to cutback on
the public works and fiercer competition for orders for private
projects. It is unlikely that orders from companies other than
East Japan Railway will increase in the future.

Cost reductions and enhancement of the alliance with the two
companies above will be important for Tekken to assure the
current earnings level. Although Tekken improved the financial
structure, reducing the interest-bearing debt, the debt remains
large. It needs to reduce the interest-bearing debt further.

JCR will watch carefully the impact of the filing for Civil
Rehabilitation Law of the subsidiary operating golf courses on
the earnings of Tekken.

CONTACT:

Tekken Corporation
5-3 Misaki-Cho 2-Chome
Chiyoda-Ku 101-8366, Tokyo 101-8366
Japan
Phone: +81 3 3221 2156
Fax: +81 3 3264 2913
Web site: http://www.tekken.co.jp/


UFJ HOLDINGS: Unit to Offer Investment Annuity
----------------------------------------------
UFJ Bank, Ltd., a subsidiary of UFJ Holdings, Inc., will offer
investment annuity, Premiere starting late December 2004, which
was co-developed by The Bank of Tokyo-Mitsubishi, Ltd., a
subsidiary of Mitsubishi Tokyo Financial Group, Inc. (MTFG) and
Manulife Life Insurance Company.

Plans to offer Premiere through UFJ Trust Bank, Ltd and UFJ
Tsubasa Securities Co., Ltd. are also underway.

Prior to the completion of the proposed management integration,
MTFG and UFJ Holdings will proceed with a series of business
alliances in various areas to ensure that their customers are
able to enjoy the benefits from the integration right away. The
sale of Premiere through UFJ Bank is being promoted as part of a
business alliance in retail operations of the two groups.

Premiere was launched at The Bank of Tokyo-Mitsubishi and
Mitsubishi Securities Co., Ltd. in April 2004, and subsequently
at Mitsubishi Trust and Banking Corporation in July.

With its unique feature to offer a 110% annuity capital
guarantee introduced for the first time ever in Japan, Premiere
has been well accepted by customers and its sales surpassed
Yen100 billion in the first six months after the launch.

Premiere has now become the leading individual annuity insurance
product offered by MTFG. In the future, we plan to offer
Premiere not only through UFJ Bank but also through UFJ Trust
Bank and UFJ Tsubasa Securities so that the customers of the UFJ
Group will be able to enjoy the benefits of the unique features
of this popular annuity insurance product.

MTFG and UFJ Holdings will continue to enhance both the
convenience and quality of their products/services for customers
through ongoing expansion of operational tie-ups between the two
groups.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_UFJHOLDINGS102704.pdf

CONTACT:

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


* New Bankruptcy Law a Boon for Business
----------------------------------------
Japan's new bankruptcy law, which is aimed at simplifying and
accelerating corporate and individual bankruptcy procedures,
will come into effect on January 1, reports The Daily Yomiuri.

The enactment of the revised law finalizes the state's efforts
to come up with a legislation that is better able to deal with
the upward trend of corporate failures following the collapse of
the bubble economy.

The new legal scheme is convenient for troubled companies
seeking to rehabilitate themselves, as well as those undergoing
liquidation.

The old Bankruptcy Law could not be applied unless the Company
in question has already declared itself bankrupt, making it
difficult for the Company to secure approval for a revival plan.
The revised law, on the other hand, can be used before the
Company is declared bankrupt.

The revised law, likewise, brings in new systems to hasten and
increase transparency in legal proceedings.

For example, bankruptcy procedures for parent and subsidiary
companies can now be dealt with by the same court. Bankruptcy
procedures for companies with 1,000 or more creditors now can be
dealt with at the Tokyo or Osaka district courts, both of which
have teams of specialist staff, with the bankrupt companies
required to make public details of their key assets, such as
cash and property.

The law also enables bankrupt companies to continue in business
subject to court permission, which means employees of failing
firms can be transferred together with their business.

"With the Bankruptcy Law now more reconstruction-oriented and
focused on corporate rehabilitation, and with the liquidation-
oriented also better integrated, we've got a legal system
comparable to anything in the West," an official at the
ministry's Civil Affairs Bureau said.

In line with Japan's goal to possess the simplest and most
adaptable bankruptcy law of any major country, the ministry
plans to amend special liquidation procedures based on the
Commercial code in the next fiscal year.


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


DAEWOO HEAVY: Chooses Doosan as Preferred Bidder
------------------------------------------------
Doosan Heavy Industries was chosen as the preferred bidder for
Daewoo Heavy Industries and Construction Co., with the highest
bid of KRW1.8 trillion, according to Asia Pulse.

In case negotiations between Doosan and the government falls
apart, a preliminary bidder was selected to take the place of
Doosan. The Public Fund Oversight Committee chose Hyosung, with
the second highest bid of KRW1.3 trillion, as the preliminary
bidder.

The committee was headed by Finance and Economy Minister Lee
Hun-jai and comprises of three government officials and five
from the private sector.  The committee said seven prospective
buyers had bid for Daewoo Heavy.

"The selection was based mainly on their bids and
competitiveness."

Negotiations between the Korea Asset and Management Corp.
(KAMCO), a state asset manager and Doosan will take about a
month.  KAMCO handles the sale of Daewoo Heavy.

In a recent TCR-Asia Pacific report, it was stated that Daewoo
Heavy union workers would resort to extreme measures if Doosan
would be chosen as the preferred bidder.  Although they did not
state the name of the Company it was clearly aimed at Doosan, as
it was leading the race.

CONTACT:

Daewoo Heavy Industries & Machinery Ltd.
14-34 Youido-Dong, Youngdungpo-Gu,
Seoul 150-010
Republic of Korea
Web site: www.dhiltd.co.kr/eng/index.asp


JINRO LIMITED: Jinro Ballantines Expresses Interest to Bid
----------------------------------------------------------
Allied Domecq (AD) confirmed that its Korean unit Jinro
Ballantines Co. is interested to bid for the troubled distiller
Jinro Ltd., which holds about 55 percent of the Korea soju
market, Just-drinks.com reports.

But David Lucas, the head of Jinro Ballantines, said AD must
still be convinced that soju, the traditional Korean liquor,
would generate profit in the international markets.  Since the
U.S. and European markets are exhausted, AD needs to expand in
Asia, and Jinro Limited would likely be their ticket to do so.

Jinro Ballnatines is a venture formed after AD took a 70 percent
stake in Jinro's whisky unit in 1999.

"If you look around Asia, there is little opportunity, and one
of the biggest opportunities is Jinro in Korea and Japan," Mr.
Lucas said.

A due diligence is still being conducted on Jinro Limited before
it is being put up for sale.  Merril Lynch the Company's lead
manager said the due diligence would most likely be completed in
December, and bids will be accepted by then.

Jinro, which is believed to be worth between KRW1.5 trillion and
KRW2.5 trillion (US$1.32 billion and US$2.21 billion), ran into
trouble in the 1990s when it expanded into unrelated businesses
such as retail and construction and racked up US$1.4 billion in
debts. US investment firm Goldman Sachs, which holds a third of
Jinro's debt, placed the liquor distiller in court receivership
in 2003 on charges of mismanagement.

CONTACT:

Jinro Limited
1448-3 Seocho-dong Seocho-gu
Jinro Bldg
Seoul, SEOUL 137-866
KOREA (SOUTH)
Telephone: +82 2 520 3114; +82 2 520 3453
Web site: http://www.jinro.co.kr/


LG CARD: Lotte Denies Imminent Settlement Over Rate
---------------------------------------------------
Lotte Mart denies reports that it about to reach a settlement
with LG Card over higher sales transaction rates, The Korea
Herald relates.

The announcement of Lotte Mart on Tuesday downplays the news
circulating in the local media suggesting an imminent settlement
regarding higher sales transaction rate.  According to Lotte,
the said predictions were "speculative" and stressed that a time
frame is impossible to set.

"Just because negotiations between Lotte Mart and LG Card are
going smoothly does not mean that an agreement will be reached
within this week, which is what local newspapers have been
claiming since last week.  No one can say when we will reach an
agreement. It's not that really easy," said Tak Yong-kyu, a
spokesman for Lotte Mart.

"And it won't be today or tomorrow; it's not something we can
put a date on. Both parties still have differences to work out,"
Mr. Tak said.

The plans of discount retailers to impose higher transaction
rates were disputed by the credit card firms saying that the
current 1.5 percent transaction rate is below industry standard
and are not enough to cover operating expenses.  Retailers have
resisted any action that affects their price competitiveness.

In recent weeks, Lotte Mart has said that both sides have been
taking a friendlier approach, as opposed to the clashes between
the nation's No. 1 discount chain, E-Mart, and credit card
companies, including LG Card.

"We decided to open up to LG Card and compromise, while the card
Company is willing to do so as well. We hold the same intention
for all the other card companies as well," explained Mr. Tak.

LG Card has reduced its rate to 1.85 percent from the current
rate which is 2.0 percent, but Lotte Mart has not accepted the
offer and is still negotiating a lower rate, Mr. Tak said.

"Lotte Mart is not in a position to disclose our negotiating
rate, but it is similar to what we are discussing with other
card companies," Mr. Tak explained.

LG Card said it plans to reduce processing costs by eliminating
a proxy that approves payments to Lotte Mart. The card Company
said its proposed 1.85 percent rate plus lower processing costs
would be the equivalent of a 2 percent rate at Lotte Mart.

"We're still waiting for Lotte Mart's response to our proposal
of reducing fee processing costs," said Kim Byung-chul, a
spokesman for LG Card.

"But the fact is that we are both focused on settling this
matter as soon as possible."

According to Mr. Kim the settlement between LG Card and Lotte
has the high possibility of setting the new standards for both
the credit and retail industries.


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


ANCOM BERHAD: Releases Shares Buy Back Notice
---------------------------------------------
Ancom Berhad announced the details of its shares buy back on
October 26, 2004.

Date of buy back from: 13/10/2004

Date of buy back to: 21/10/2004

Total number of shares purchased (units): 61,600

Minimum price paid for each share purchased (RM): 0.760

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

Total amount paid for shares purchased (RM): 47,949.68

The name of the stock exchange through which the shares were
purchased BURSA MALAYSIA SECURITIES BERHAD

Number of shares purchased retained in treasury (units): 61,600

Total number of shares retained in treasury (units): 5,149,800

Number of shares purchased, which were cancelled (units): 0

Total issued capital as diminished: 201,856,767

Date lodged with registrar of companies: 26/10/2004

Lodged by: PFA Corporate Services S/B, Level 14, Uptown 1,
D'sara Uptown, 47400 PJ.

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


CONSOLIDATED FARMS: Named Defendant by LBB Building
---------------------------------------------------
Consolidated Farms Berhad (Confarm) has been named as defendant
in a Writ of Summon, dated 12 October 2004, filed by LBB
Building System Sdn. Bhd. (LBB) in the Magistrate Court of Kuala
Lumpur.

The suit is in respect of the works rendered and delivered to
Confarm for the construction of "Proposed GP Centre 2 at
Kalumpang Selangor".

LBB had claimed for the amount of RM17,225.40 from Confarm,
together with interest of 8.0% per year, from 25 September, 2003
until full resolution, indemnity costs and any other relief to
be granted by the Court and the mention date for the suit has
been fixed on 4 March, 2005.

The Company will be appointing lawyers to defend the suit. The
Company will seek the indulgence of the plaintiff for an
abeyance in the proceedings pending the review by the Board of
Directors of Confarm to ascertain its financial position before
deciding the way forward for the Confarm Group.

CONTACT:

Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299

This announcement is dated 26 October 2004.


CONSOLIDATED FARMS: Answers Winding Up Petition Query
-----------------------------------------------------
Consolidated Farms Berhad refers to the Bursa Malaysia
Securities Berhad's letter dated 22 October 2004 in relation to
the winding-up petition against Consolidated Feedmill Sdn Bhd
(CFSB) by BASF (Malaysia) Sdn Bhd.

The Board of Directors having made due and diligent enquiry,
replied as follows:

1. CFB invested RM1.0 Million in the share capital of
Consolidated Feedmill Sdn Bhd (CFSB). When CFB became a PN4
Company, taking into consideration the impairment losses, the
investment was written down to RM1.00.

2. (a) The financial impact of the winding-up proceedings on
CFB.

For the past three (3) years CFSB was incurring losses. As at 31
January 2004, the cumulative losses of CFSB totaled RM1,544,509.
As a result of the winding-up proceedings, CFB will no longer be
required to consolidate losses, if any. However, CFB will have
to purchase feed from outside suppliers at market price.

(b) Operational impact of the winding-up proceedings on CFB.
The feedmill will not be able to produce feed due to the
winding-up proceedings and as such CFB will have to purchase
feed from outside suppliers at market price on terms and
conditions prevailing at time of purchase.

3. As a result of the winding-up proceedings, CFB's liabilities
will increase by RM18.7 million arising from Corporate
Guarantees (CG) provided to:

Bumiputera-Commerce Bank Berhad RM15.7 million
AmMerchant Bank Berhad RM 3.0 million
RM18.7 million

4. CFB is currently an affected listed issuer under Paragraph
2.1(c) of Practice Note No. 4/2001 of the Listing Requirements
of Bursa Malaysia Securities Berhad and is insolvent. Therefore,
CFB will not be able to meet its financial obligations as and
when they fall due within the period of twelve (12) months
without financial injection by existing or any other investors.

5. The Board of Directors of CFB is unable to provide a
Declaration of Solvency to the Exchange in view of the insolvent
position of the Company.

In a query letter from the Bursa Malaysia Securities Berhad, the
exchange requested the Consolidated Farms Berhad with the
following information for public release.

The total cost of investment in CFSB;

The financial and operational impact of the winding-up
proceedings on your Company;

The expected losses, if any arising from the winding-up
proceedings; Where CFSB is a major subsidiary, a statement
whether Consolidated Farms Berhad (Company) and its group of
companies (Group) is solvent i.e. that no contingent or other
liability has become or is likely to become enforceable within
the period of twelve (12) months from the date thereof which
will or may affect the ability of the Group or the Company to
meet their obligations as and when they fall due; and

6. Where CFSB is a major subsidiary, an undertaking that a
solvency declaration executed by the directors of the Company
will be provided to Bursa Securities within seven (7) days
(where such declaration can be made).

Please note that the board of directors of the Company must
endorse the contents of the announcement.

Yours faithfully,
CHONG FUI TZY
Sector Head
Issues & Listing
Group Regulations
HTH/MZM
Copy to: Securities Commission (via fax)


DIJAYA CORPORATION: Unit Faces Winding Up Proceedings
-----------------------------------------------------
The Board of Directors of Dijaya Corporation Berhad (DIC)
announced that Izasaja Sdn Bhd (ISB), a wholly owned subsidiary
of Banjaran Mutiara Sdn Bhd (BMSB), which in turn is a wholly
owned subsidiary of the Company, had on 26 October 2004
commenced its members' voluntary winding up proceeding pursuant
to Sections 254(1)(b) and 255(6)(b) of the Companies Act, 1965.

ISB was incorporated in Malaysia on 12 February 1985 under the
Companies Act, 1965. ISB was principally involved in property
investment and has ceased business operations on 31 May 2004.

The Board of Directors of DCB is of the opinion that the
winding-up of ISB will not have any material financial and
operational impact on the Group.

CONTACT:

Dijaya Corporation Berhad
Lot 302 3rd Floor
Wisma Dijaya
No.1A Jalan SS20/1
Damansara Utama
47400 Petaling Jaya
Phone: 03-7726 8297
Fax: 03-7726 8076
Website: http://www.dijayacorp.com

This announcement is dated 26 October 2004.


GOLDEN FRONTIER: Issues Shares Buy Back Notice
----------------------------------------------
Golden Frontier Berhad disclosed to the Bursa Malaysia
Securities Berhad the details of its shares buy back on October
26, 2004.

Date of buy back: 26/10/2004

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

Total number of shares purchased (units): 8,000

Minimum price paid for each share purchased (RM): 0.690

Maximum price paid for each share purchased (RM): 0.700

Total consideration paid (RM): 5,586.49

Number of shares purchased retained in treasury (units): 8,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 1,159,000

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

CONTACT:

Golden Frontier Berhad
No 11 Lorong Kinta
10400 Penang,
Malaysia
Tel: +60 4 226 2226
Tel: +60 4 228 2890

This announcement is dated 26 October 2004.


MANGIUM INDUSTRIES: Unveils Monthly Production Figures
------------------------------------------------------
Mangium Industries Berhad announced the following monthly
production figures for the month of September 2004 in compliance
with Paragraph 9.29 of the Chapter 9 of the Bursa Malaysia
Securities Berhad Listing Requirements.

Mangium Sawmill Sdn. Bhd.
(Formerly known as Kilang Papan Dasatu Sdn. Bhd.) M3

1. Production of sawn timber           -
2. Production of finger joint timber   -
   Total                               -

Mangium Plantations Sdn. Bhd.

(Formerly known as Serisar Forest Plantation & Products Sdn Bhd)
M3

1. Production of logs              18,695-15
   TOTAL                           18,695-15

CONTACT:

Mangium Industries Berhad
2nd Floor Menara MAA
6 Lorong Api-Api 1
88000 Kota Kinabalu
Sabah
Tel: 6088-315000
Fax: 6088-312213


MANGIUM INDUSTRIES: Unit Defaults in Debt Payments
--------------------------------------------------
Mangium Industries Berhad (MIB) announced that its wholly owned
subsidiary, Mangium Sawmill Sdn Bhd (MSSB) (formerly known as
Kilang Papan Dasatu Sdn Bhd), has not paid and is deemed to have
defaulted in its repayments on facilities granted by Standard
Chartered Bank Malaysia Berhad (SCB) and Southern Bank Berhad
(SBB), which are unsecured.

The details of the facilities currently in default in compliance
with Section 3.1 of Practice Note 1/2001 are tabulated in Table
1 http://bankrupt.com/misc/tcrap_mangium092204.doc

A) REASON FOR DEFAULT IN PAYMENTS

Due to the unfavorable timber market and depressed prices for
timber and timber related products throughout Asia since the
financial crisis in the year 1997, many of the Group's buyers
were adversely affected and are facing financial difficulties
leading to their inability to settle their outstanding balances
despite efforts made by the management to collect these
outstanding debts with the Group. As a result, the cash flow
generated from operations was not sufficient to service the
interest and principal obligations to the lenders as and when
they fell due.

B) MEASURES BY THE LISTED ISSUER TO ADDRESS THE DEFAULT IN
PAYMENTS

Both Standard Chartered Bank Malaysia Berhad and Southern Bank
Berhad have agreed to the Proposed Debt Settlement &
Restructuring Scheme announced by MIB on 22 December 2003.

C) FINANCIAL AND LEGAL IMPLICATIONS IN RESPECT OF THE DEFAULT IN
PAYMENTS INCLUDING THE EXTENT OF THE LISTED ISSUER'S LIABILITY
IN RESPECT OF THE OBLIGATIONS INCURRED UNDER THE AGREEMENTS FOR
THE INDEBTEDNESS

The estimated total outstanding as at 30 September 2004, in
relation to the payments, which are in default and are the
subject matter of this announcement amounts to RM10,714,713.32.

Since MIB is the guarantor for these loans, MIB is liable for
the full amount and any further interest and financial cost
levied there or until the settlement of these debts.

D) IN THE EVENT THE DEFAULT IS IN RESPECT OF SECURED LOAN STOCKS
OR BONDS, THE LINES OF ACTION AVAILABLE TO THE GUARANTORS OR
SECURITY HOLDERS AGAINST THE LISTED ISSUER
Not applicable.

E) IN THE EVENT THE DEFAULT IS IN RESPECT OF PAYMENTS UNDER A
DEBENTURE, TO SPECIFY WHETHER THE DEFAULT WILL EMPOWER THE
DEBENTURE HOLDER TO APPOINT A RECEIVER OR RECEIVER AND MANAGER
Not applicable.

F) WHETHER THE DEFAULT IN PAYMENT CONSTITUTES AN EVENT OF
DEFAULT UNDER A DIFFERENT AGREEMENT FOR INDEBTEDNESS (CROSS
DEFAULT) AND THE DETAILS THEREOF, WHERE APPLICABLE

The facilities listed above represent the borrowings of the
MIB's wholly owned subsidiary, MSSB, and as a result of their
default, the remaining facilities granted by other lenders to
MSSB are all technically in default by virtue of the "Cross
Default" clauses in the Letter of Offers.

However, the lenders have kept in view further legal action
other than those, which have been disclosed in our Annual Report
and Announcements, since MIB is in active negotiations with them
to normalize and regularize the accounts.


MBF CORPORATION: Unit Enters Into Deal With Shahwira Holdings
-------------------------------------------------------------
MBf Corporation Berhad disclosed that its unit, Summerset Resort
Sdn Bhd (Summerset), had on 22 October 2004 entered into a
License Agreement with Shahwira Holdings Sdn Bhd (Shahwira or
Licensee) who has been awarded a Project Contract with the
Ministry of Defense of the Government of Malaysia (MINDEF) for
the supply and provision of services, amenities and facilities
for the use of the campsite, training facilities and provision
of food under the National Service Program (Project Contract),
to grant Licensee a license to use the Land of Summerset
delineated in red on the plan annexed hereto as Annexure 1
(Land) of the License Agreement at an annual fee of RM180,000
for a period of five (5) years subject to the terms and
conditions of the License Agreement (Terms).

That in the event of an earlier termination of the Project
Contract or the non-renewal of the Project Contract by MINDEF to
the Licensee, the Terms shall expire on the date of such earlier
termination or upon the date when it is determined that the
Project Contract not been awarded or renewed to the Licensee for
that year.

Information on Shahwira

Shahwira was incorporated in Malaysia on 27 May 1997 under the
Companies Act, 1965. The authorized and paid-up share capital is
RM300,000 respectively. Its principal activity is distribution
and publishing of books, Internet business and investment
holding.

Information on Summerset

Summerset was incorporated in Malaysia under the Companies Act,
1965 on 14 March 1991 with an authorized and paid-up share
capital of RM2,000,000 respectively. Its principal activities
are property development and hotel operation.

Rationale for the Transaction

The Licensee shall construct the Buildings on the Land owned by
Summerset for the National Service Program (Program) and
Summerset shall be entitled to use the Buildings and such other
related facilities, equipment and amenities which have been
constructed or set-up by the Licensee at all times when the
Program is not in progress. Thus, being a hotel operator,
Summerset could provide additional facilities to its customers
at no extra costs and the annual license fee would be used to
defray operational expenses.

Financial Effects

The Transaction do not have any material financial effect on the
earnings, net tangible assets and the substantial shareholders'
shareholdings of the MBf Corp Group for the financial year
ending 31 December 2004.

Directors' and substantial shareholders' interest

Captain Badrul Majidi is a director of Summerset and he is also
a director and shareholder of Shahwira. He, therefore, declared
his interest in the aforesaid Transaction.

Save as disclosed above, none of the directors or substantial
shareholders and/or persons connected to him or substantial
shareholders of MBf Corp, has any interest, direct or indirect
in the Transaction.

Statement by the Board of Directors of MBf Corp

The Board having considered all aspects of the Transaction, is
of the opinion that the terms are fair and reasonable and the
Transaction is in the best interest of the MBf Corp Group.

Approval Required

The Transaction is not subject to the approvals of shareholders
of MBf Corp or any relevant authorities.

Document for Inspection

The Licence Agreement may be inspected at the registered office
of MBf Corp at Block B1, Level 9, Pusat Dagang Setia Jaya
(Leisure Commerce Square) No. 9 Jalan PJS 8/9, 46150 Petaling
Jaya, Selangor Darul Ehsan during normal office hours except
public holidays.

Yours faithfully,
For and on behalf of
MBf Corporation Berhad
Lau Cheong Koon
Company Secretary

CONTACT:

MTD Capital Berhad
Lot 8359, Mukim of Batu
Batu 8, Jalan Caves,
68100 Batu Caves,
Selangor Darul Ehsan,
Malaysia
Telephone: (603) 689-9022


POS MALAYSIA: Appoints Non-Executive Director
---------------------------------------------
POS Malaysia & Services Holdings Berhad announced the
appointment of Mr. Segarajah Ratnalingam as its new Director on
October 26, 2004.

Date of change: 26/10/2004

Type of change: Appointment

Designation: Non-Executive Director

Directorate: Non Independent & Non Executive

Name: Segarajah Ratnalingam

Age: 51

Nationality: Malaysian

Qualifications: Bachelor of Economics (Honours) Degree,
University of Malaya

Working experience and occupation: Mr. Segarajah joined the
Malaysia Administrative and Diplomatic Service in 1975 upon his
graduation from University of Malaya. He served in the Ministry
of Defence from 1975 - 1995 and was later posted to the Treasury
in 1995. Mr. Segarajah is currently the Under Secretary of the
Financial Management Advisory Division, Ministry of Finance.

Directorship of public companies (if any): MIMOS Berhad
Family relationship with any director and/or major shareholder
of the listed issuer: None

Details of any interest in the securities of the listed issuer
or its subsidiaries: None

CONTACT:

Pos Malaysia & Services Holdings Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 2323
Telephone: +60 3 2166 2266


SRIWANI HOLDINGS: SC OKs Restructuring Proposal
-----------------------------------------------
The shareholders of Sriwani Holdings Berhad has approved the
following proposals:

(I) Capital Reduction And Consolidation;

(II) Restricted Issue;

(III) Rights Issue

(IV) Debt Restructuring Scheme;

(V) Assets Injection;

(VI) Additional Issue; And

(VII) Ma Sepang Debt Settlement

(Items (I) To (VII) Shall Collectively Be Referred To As The
"Existing Restructuring Plan)

(VIII) Proposed Alternative Restructuring Plan; And

(IX) Proposed Property Disposals

(Items (VIII) To (IX) Shall Collectively Be Referred To As The
Proposals)

In connection with the Proposed Alternative Restructuring Plan,
Naluri Berhad (Naluri) shall acquire certain securities in
Sriwani Holdings Berhad (SHB) from lenders/creditors, who shall
receive the securities pursuant to the Debt Restructuring Scheme
(Proposed SHB Securities Acquisition).

Upon completion of the Proposed SHB Securities Acquisition,
Naluri shall increase its ordinary shareholding in SHB from nil
to 53%. As a result, Naluri will be obligated under the
Malaysian Code on Take-overs and Mergers, 1998 (Code) to
undertake a mandatory take-over offer for the remaining SHB
Shares, warrants 1994/2004 in SHB and irredeemable convertible
preference shares in SHB not held by Naluri (Proposed Offer).

Commerce International Merchant Bankers Berhad (CIMB) on behalf
of SHB hereby announces that the SC had through its letter dated
23 October 2004 (which was received on 25 October 2004) ruled
that the provision of Section 35(2) of the Code in relation to
frustration of offers by the board of SHB is applicable to the
Proposals as the relevant agreements are bona fide contracts
entered into prior to the obligation of a mandatory take-over
offer arising, and they are not intended to frustrate the take-
over offer or change the activity of SHB. As such, the SC had
approved the implementation of the Proposals pursuant to
Practice Note 8.1 of the Code.

CONTACT:

Sriwani Holdings Berhad
Wisma Sriwani, 418 Chulia Street
10200 Penang
Telephone: 04-2628535
Fax: 04-2614076
Web site: http://www.sriwani.com.my

This announcement is dated 26 October 2004.


SRIWANI HOLDINGS: To Strike Out Property Disposal Scheme
--------------------------------------------------------
Sriwani Holdings Berhad has on 19 October 2004 filed an
application to strike out the Company's proposed property
disposals and proposed alternative restructuring plan.

The hearing date for SHB's application to strike out the
petition will be on 10 November 2004.

This announcement is dated 26 October 2004.


TRANSOCEAN HOLDINGS: Unveils 2004 Quarterly Report
--------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Transocean
Holdings Bhd released its quarterly report for the financial
period ended August 31, 2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            31/08/2004

                 INDIVIDUAL PERIOD        CUMULATIVE PERIOD
        CURRENT YEAR  PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
          QUARTER    CORRESPONDING    TO DATE     CORRESPONDING
                       QUARTER                    PERIOD

         31/08/2004   31/08/2003     31/08/2004     31/08/2003
           RM'000      RM'000         RM'000         RM'000

1  Revenue
           11,347      10,984         11,347         10,984

2  Profit/(loss) before tax
             -577      -875           -577           -875

3  Profit/(loss) after tax and minority interest
             -406      -753           -406           -753

4  Net profit/(loss) for the period
             -406      -753           -406           -753

5  Basic earnings/(loss) per shares (sen)
             -1.40     -2.60          -1.40           -2.60

6  Dividend per share (sen)
              0.00      0.00           0.00            0.00

                 AS AT END OF     AS AT PRECEDING
               CURRENT QUARTER    FINANCIAL YEAR END

7 Net tangible assets per share (RM)

                   0.6600             0.6700

CONTACT:

Transocean Holdings Berhad
Suite 18.05, MWE Plaza
No. 8 Lebuh Farquhar
10200 Penang
Tel: 04-2631966
Fax: 04-2628544
Web site: http://www.transocean.com.my


TRANSOCEAN HOLDINGS: AGM Set on November 18
-------------------------------------------
The Twenty-sixth Annual General Meeting (AGM) of Transocean
Holdings Bhd will be held at Cititel Penang (Level 3), No. 66,
Jalan Penang, 10000 Penang on Thursday, 18 November 2004 at
10:30 a.m. for the following purposes:

AS ORDINARY BUSINESS:

1. To receive the Audited Financial Statements for the year
ended 31 May 2004 together with the Reports of the Directors and
Auditors thereon;

2. To consider and if thought fit, to pass the following
resolution in accordance with Section 129(6) of the Companies
Act, 1965:

"That Mr. Khoo Boo Hong who is over the age of seventy years and
retiring in accordance with Section 129 of the Companies Act,
1965 be and is hereby re-appointed a Director of the Company to
hold office until the next Annual General Meeting of the
Company."

3. To re-elect the following Directors who retire in accordance
with Article 105(1) of the Company's Articles of Association and
being eligible, offer themselves for re-election:

(i) En. Zainuddin bin Din
(ii) Mr. Prem Jitindarsingh

4. To re-elect the following Directors who retire in accordance
with Article 112 of the Company's Articles of Association and
being eligible, offer themselves for re-election:

(i) Mr. Krishnan a/l Chelliah
(ii) Mr. Chong See Teck

5. To re-appoint Messrs Ernst & Young as Auditors of the Company
for the ensuing year and to authorize the Directors to fix their
remuneration.

AS SPECIAL BUSINESS:

6. To consider and if thought fit, to pass with or without
modifications, the following resolutions as Ordinary
Resolutions:

(i) Ordinary Resolution No. 1 Payment of Directors' Fees

"That the payment of Directors' fees amounting to Ringgit
Malaysia Sixty Thousand (RM60,000.00) only for the financial
year ended 31 May 2004 be and is hereby approved."

(ii) Ordinary Resolution No. 2

Authority to issue shares pursuant to Section 132D of the
Companies Act, 1965 "That subject to the Companies Act, 1965,
the Articles of Association of the Company and the approvals of
the relevant governmental/regulatory authorities, the Directors
be and are hereby authorized pursuant to Section 132D of the
Companies Act, 1965 to issue and allot shares in the Company at
any time until the conclusion of the next Annual General Meeting
and upon such terms and conditions and for such purposes as the
Directors may, in their absolute discretion, deem fit provided
that the aggregate number of shares to be issued pursuant to
this resolution does not exceed 10 percentum (10%) of the issued
share capital of the Company for the time being and that the
Directors are also empowered to obtain the approval from Bursa
Malaysia Securities Berhad (formerly known as Malaysia
Securities Exchange Berhad) for the listing and quotation for
the additional shares to be issued."

By Order of the Board
THUM SOOK FUN (MAICSA 7025619)
Company Secretary
Date: 27 October 2004
Penang


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


COLLEGE ASSURANCE: Barred From Selling Pension Plans
----------------------------------------------------
The Philippine Securities and Exchange Commission (SEC) has
ordered College Assurance Plans Philippines Inc. (CAP) to stop
selling pension plans due to the expiration of its dealership
license on September 30, the Manila Times reports.

Moreover, the SEC reports showed that CAP has Php176 million
worth of under-deposits.

"Until [CAP] can present to this commission a feasible fund
source acceptable to the commission to cover both the required
funding balance for 2004 and the under deposits for new plan
sales, there is no way by which the Commission can act [to renew
the dealership license]," SEC Chairman Fe Barin said.

CAP is involved in only two pre-need businesses-educational
plans and pension plans. The Company's dealership license
expired last month because of its failure to show the SEC
sufficient investments that would resolve a Php17 billion
deficiency in trust fund.

CAP's net loss in the first half of 2004 increased five-fold
from Php330 million in the same period last year. The net loss
is also 12 percent higher than the CAP's projected Php1.5
billion for the first six months of 2004.

CONTACT:

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


COLLEGE ASSURANCE: In Talks With Local Investor Group
-----------------------------------------------------
College Assurance Plan Philippines Inc. (CAP) is in talks with
another group of local investors interested in putting in fresh
capital to further beef up its trust fund, reports The
Philippine Star.

To facilitate the entry of the investor group, CAP is raising
its authorized capital stock to Php8 billion from only Php300
million. The pre-need firm earlier planned to increase its
capitalization to only Php6 billion.

CAP First Vice President Bobby Cafe, however, declined to name
the prospective investor, saying talks are still under wraps.
The foreign fund manager is expected to infuse US$100 million in
fresh equity into the Company.

The pre-need firm is in the final stages of completing the
additional requirements imposed on it by the Securities and
Exchange Commission (SEC) for the renewal of its dealer's
license and the grant of additional securities to sell to the
public.


MANILA ELECTRIC: Releases 3rd Quarter Report
--------------------------------------------
Manila Electric Company (Meralco) furnished the Philippine Stock
Exchange a copy of its third quarter results as submitted to the
Securities and Exchange Commission.

For a full copy of the said report, go to
http://bankrupt.com/misc/tcrap_meralco102704.pdf

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Telephone Numbers:  16220 (TL); 633-4553 (Corp. Sec.)
Fax Number:  631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


NATIONAL POWER: Govt Delays First Auction of Masinloc Plant
-----------------------------------------------------------
The government has postponed the first auction of the Masinloc
power plant to November 25 to allow prospective buyers more time
to conduct due diligence, the Business World reports.

The bidding for the 600-megawatt coal-fired plant has been
scheduled for October 27.

Foreign firms interested in power facility include YNN of
Australia, Malaysia's YTL Power, Japan's Marubeni Corporation,
U.S. power firm Mirant Corporation and Korea Electric Power
Corporation.

The government, which is struggling to cut its budget deficit,
hopes to raise US$4 billion to US$5 billion from the sale of
dozens of National Power Corporation (Napocor) power plants and
its nationwide power grid. It has so far sold four small
hydroelectric power plants.

CONTACT:

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


NATIONAL POWER: Vivant Withdraws Loboc Power Plant Bid
------------------------------------------------------
In a disclosure to the Philippine Stock Exchange, Vivant
Corporation announced that it is withdrawing its bid for
National Power Corporation's 1.2 MW Loboc Hyroelectric Plant
located in Loboc, Bohol.

CONTACT:

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


PHILIPPINE REALTY: Notes Unusual Market Movement
------------------------------------------------
In reply to a query from the Philippine Stock Exchange (PSE)
regarding the unusual price movement of the Philippine Realty &
Holdings Corp.'s share price, which increased by 50 percent to
Php0.15 per share, the Company said it is unaware of any
information relating to the unusual movement other than what
have already disclosed to the exchange.

Truly yours,
Amador C. Bacani
President

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


ASSOCIATED ASIAN: Issues First and Final Dividend Notice
--------------------------------------------------------
Associated Asian Securities (Pte) Ltd, in liquidation, posted
its dividend notice at the Singapore Stock Exchange on October
22, 2004.

Address of Registered Office: Formerly of 10 Anson Road
#14-03 International Plaza Singapore 079903

First and Final Dividend: 60 per centum of all admitted proofs
of unsecured creditors

When Payable: 29th October 2004

Where Payable: KPMG 16 Raffles Quay #22-00 Hong Leong Building
Singapore 048581

Michael Ng Wei Teck
Liquidator


CONTROL TECHNOLOGY: Creditors To Prove Debts by November 22
-----------------------------------------------------------
Notice is hereby given that the creditors of Control Technology
& Systems Pte Ltd, which is being wound up voluntarily, are
required on or before the 22nd day of November 2004, to send in
their names and addresses, with particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to the undersigned, the Liquidator of the said Company.

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

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

Ramasamy Subramaniam Iyer
Liquidator
c/o 8 Cross Street
#17-00 PWC Building
Singapore 048424

This Singapore Government Gazette notice is dated October 22,
2004.


LAM LEONG: Creditors Must Submit Claims by November 24
------------------------------------------------------
Notice is hereby given that the creditors of Lam Leong Textiles
(Private) Limited, which is being wound up by an Order Of Court,
are required on or before the 24th day of November 2004 to send
in their names and addresses, with particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to the undersigned, the Special Manager, of the said Company.

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

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

Chan Ket Teck
Special Manager for Liquidator
Lam Leong Textiles (Private) Limited
(In Compulsory Liquidation)
c/o 97B Upper Thomson Road #17-05
Singapore 574328

This Singapore Government Gazette notice is dated October 22,
2004.


LIAN HUAT: Receives Winding Up Order
------------------------------------
A winding up order was made on the 15th day of October 2004 for
Lian Huat Metal Pte Ltd.

The Official Receiver of 45 Maxwell Road #05-11/#06-11, The URA
Centre (East Wing), Singapore 069118 was appointed Liquidator.

Messrs Chia & Tang
Solicitors for the Petitioner
10 Anson Road
#23-10 International Plaza
Singapore 079903

This Singapore Government Gazette notice is dated October 22,
2004.


PRO-CRETE INTERNATIONAL: Winding Up Order Issued
------------------------------------------------
In the matter of Pro-Crete International Pte Ltd., a winding up
order was made on the 15th day of October 2004.

Name and address of Liquidator: The Official Receiver
Insolvency & Public Trustee's Office
The URA Centre (East Wing)
45 Maxwell Road #05-11 & #06-11
Singapore 069118.

Messrs Lee & Lee
Solicitors for the Petitioner
Concrete Paver Industries Sdn Bhd

This Singapore Government Gazette notice is dated October 22,
2004.


WEE POH: Clarifies News Articles
--------------------------------
Wee Poh Holdings Limited has clarified news articles published
by The Business Times and Strait Times.

The Business Times and Straits Times articles of date 26th
October made mention of the following points:

(1) "...Mr. Chan said Wee Poh is expected to return to positive
net worth territory before its planned reverse takeover deal
with Hong Kong's watch manufacturer..."

In our announcement dated 27th October 2004, it was announced
that the following was a conditions precedent of the S & P
agreement with the Winning Group:

"the NAV of the WPH Restructured Group (as hereinafter defined),
as at the date 1 month immediately preceding the Completion Date
(if the Completion Date is after the 15th of the following
month) or as at the date 1 month preceding the last month (if
the Completion Date is before the 15th of the following month),
shall be no less than SGS$7.0 million (before accounting for
certain expenses as stated in the Agreement)"

In the same announcement, we also showed the NTA of the Group as
follows:

(2) "...Mr. Chew said that his team is on the brink of clinching
multi-million dollar integrated construction projects in China
and Thailand...Mr. Chan revealed that Mr. Chew's overseas plans
have already been rejected by the Wee Poh board..."

These projects were presented by Mr. Chew to the board on 13
September 2004.

These projects were in diverse industries including
construction, medical, water treatment, waste recycling,
property estate management, logistic and aviation. The contract
sum for these entire projects total approximately SG$910
million.

No feasibility studies or financial models were submitted to the
board for consideration. There is also insufficient working
capital to support the scale of these projects. The Company's
cash level was only at approximately SG$6.17 million on 13
September 2004.

Also, these projects appeared to be only at the early stage of
planning and negotiation.

Submitted by:
Chan Wang Kin
Managing Director


WEE POH: Clarifies Previous Announcement
----------------------------------------
Wee Poh Holdings Limited posts its amendment to October 23, 2004
announcement at the Singapore Stock Exchange.

"On 23 October 2004, the Company announced that "In August 2003,
it was brought to the attention of the Board that the liquidator
of W&P Piling Pte Ltd ('WPP') alleged that assets of WPP were
missing and/or written off...".

The Company wishes to clarify that the date should be August
2004 and not August 2003."

Submitted by:
Chan Wang Kin
Managing Director


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


BANGKOK STEEL: CBC Appoints Planners to Reorganize Business
-----------------------------------------------------------
Bangkok Steel Industry Public Company Limited would like to
report on the progress of its business rehabilitation in
accordance with the stipulation of the Stock Exchange of
Thailand requiring the companies under the Rehabco sector to
report on the progress of the plan every six months.

The Central Bankruptcy Court (CBC) has appointed Economic
Intellect Co., Ltd. and C.J. Morgan Co., Ltd. to be the planners
according to the business rehabilitation process under the
bankruptcy law to reorganize the business of the Company on
April 19, 2004.

In this regard, the planners had prepared the business
rehabilitation plan and forwarded it to the official receiver
and other creditors on October 19, 2004.  In this matter, the
official receiver has fixed the date for the meeting of
creditors to consider the mentioned plan on December 22, 2004 at
9:00 a.m.

If the plan obtains the consent of the creditors with the
special resolution of the meeting on the said date, it will be
proposed to the Court by the official receiver for consideration
and approval within the first quarter of 2005 as anticipated by
the planners.

The planners do hope that the financial status and business
rehabilitation of the Company will be in good trend after the
plan of which is approved by the court as the entire repayment
plan of the Company is clearly specified in the rehabilitation
plan.

Moreover, the Company still gains the advantage of the continued
growth of real estate business since 2003.

Please be advised accordingly
Yours sincerely,
Economic Intellect Co., Ltd.
C.J. Morgan Co., Ltd.
Planners

CONTACT:

Bangkok Steel Industry Public Company Limited
United Flour Mill Bldg,
205 Rajawong Road,
Samphanthawong Bangkok
Telephone: 0-2226-0088, 0-2226-0680, 0-2226-6120-29
Fax: 0-2224-7698, 0-2222-7497
Web site: www.bangkoksteel.co.th


KRUNG THAI: Former President Files THB200Mln Lawsuit Against BoT
----------------------------------------------------------------
Krung Thai Bank PCL's (KTB) former president Viroj Nualkhair,
filed a THB200-million lawsuit with the Administrative Court,
against Bank of Thailand and its governor, M.R. Pridiyathorn
Devakula, Bangkok Post reports.

The lawsuit stemmed from BoT's objection of Mr. Viroj's
reappointment as bank president.  Lawyers with International
Legal Counsellors Thailand filed the 17-page suit with the court
alleging that the disqualification of Mr. Viroj exceeded its
legal authority.

The suit seeks to revoke a central bank notification dated July
27 that stipulated the qualifications needed by directors and
senior management of local financial institutions, as well as an
October 7 order by regulators to the KTB board explicitly
disqualifying Mr. Viroj from holding a bank position.

If the said orders are not revoked and Mr. Viroj is not accepted
for the KTB presidency, damages of THB201.2 million would be
sought together with an annual interest of 7.5 percent until the
damages are paid.

The suit seeks payment of THB51.2 million as compensation for
lost revenues and salaries that Mr. Viroj would otherwise have
received as KTB president, as well as another THB150 million in
damages and lost compensation from the inability to seek further
employment in the financial sector.

It would take about three to four weeks of deliberation before
the court would decide whether to accept the suit or not.
Sources said Mr. Viroj might also seek for the court to hold an
emergency hearing to call for a stay of proceedings by KTB to
appoint a new president.

Today, the KTB board is set to consider the appointment of
Apisak Tantiworawong as the new bank president.  Senior
government officials were the ones who approached Mr. Apisak for
the position.

Earlier, the KTB board was set to approve the reappointment of
Mr. Viroj, but the central bank letter hindered them from doing
so because of the sudden rise in the banks non-performing loans
to THB46 billion during Mr. Viroj term.

The Finance Ministry filed a petition to the Council of State,
the government's legal advisory arm, seeking a clarification
about whether the central bank's executive qualifications were
within its authority.

The Ministy is still waiting for a reply.

CONTACT:

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


SIAM AGRO: SET Halts Trading of Securities
------------------------------------------
The Stock Exchange of Thailand (SET) has ordered a trading halt
of Siam Agro Industry Pineapple & Others Public Company Limited
(SAICO) because there is significant information concerning a
statement of the firm's intention to make a tender offer to
purchase securities of SAICO (Form 247-3) that might affect
trading of its securities, but the SET has not yet been
officially informed.

Therefore, the SET has temporarily halted trading of SAICO
securities, effective from the first trading session of 27
October 2004 until the firm has clarified or disclosed this
information to the SET and allowed such information to be
disseminated to the public.

CONTACT:

Siam Agro-Industry Pineapple And Others Pcl
Ocean Tower 2, Floor38,
75/105 Sukhumvit Road,
Watthana Bangkok
Telephone: 0-2661-7878
Fax: 0-2661-7865
Web site: www.saico.co.th


THAI PETROCHEMICAL: Unveils Result of Subsidiaries' Vote on Plan
----------------------------------------------------------------
Thai Petrochemical Industry Public Company Limited advised the
Stock Exchange of Thailand regarding the meeting of creditors
for the votes on the amendment of the subsidiaries convened by
the Official Receiver on October 26, 2004, the result of the
votes are:

(1) Thai ABS Co., Ltd: 98.29 percent of creditors who cast their
votes resolved in favor of the amendment.

(2) TPI Oil Co., Ltd: 99.45 percent of creditors who cast their
votes resolved in favor of the amendment.

(3) Thai Polyurethane: 100 percent of creditors who cast their
votes resolved Industry Co., Ltd in favor of the amendment.

(4) TPI Aromatics Pcl.: 99.96 percent of creditors who cast
their votes resolved in favor of the amendment.

(5) TPI Energy Co., Ltd:  100 percent of creditors who cast
their votes resolved in favor of the amendment.

(6) TPI Polyol Co., Ltd: 100 percent of creditors who cast their
votes resolved in favor of the amendment.

Thus, the amendment of each plan has been approved in accordance
with the Bankruptcy Act B.E.2483. Consequently, the Central
Bankruptcy Court will proceed for the approval of the amendment
on November 1, 2004.

Your acknowledgement of the matters is highly appreciated.

Yours sincerely,
(Suwit Nivartvong)
Plan Administrator, for
Thai Petrochemical Industry Pcl

CONTACT:

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



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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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