/raid1/www/Hosts/bankrupt/TCRAP_Public/041102.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, November 2, 2004, Vol. 7, No. 217
Headlines
A U S T R A L I A
81 MILLER: Receivers and Managers Appointed
ARISTOCRAT LEISURE: Nominates Non-executive Directors
AUSTRALIAN FOODS: Placed in Receivership
BONFAME PTY: To Face Voluntary Winding Up Proceedings
CHAYETT PTY: Members Resolve to Voluntarily Wind Up
CHEMEQ LIMITED: Sets AGM on November 29
CHEMEQ LIMITED: Issues 4C Commitments Report
COMINDICO AUSTRALIA: SPT Acquires Assets, Business
ECH INVESTMENTS: To Undergo Voluntary Winding Up Process
FAMIT PTY: Voluntarily Winds Up
FRESH CHAIN: Enters Voluntary Winding Up Proceedings
HOGER DEVELOPMENTS: Winds Up Voluntarily
HUME INDUSTRIAL: Receivers and Managers Named
MORTGAGE INVESTMENTS: Bank Appoints Receivers and Managers
NATIONAL AUSTRALIA: To Source Share Registry Services Externally
NK HOLDINGS: Names Receivers and Managers
PIVOT EMPLOYEE: To Undergo Voluntary Winding Up Process
S&D COURIERS: Members Resolve to Wind Up Voluntarily
TARLOMEENE PTY: Appoints Richard Judson as Liquidator
TERRACREST PTY: Enters Voluntary Winding Up Process
VOYAGER GROUP: Winds Up Voluntarily
C H I N A & H O N G K O N G
RISE PROFIT: Faces Winding Up Proceedings
SING MING: Enters Bankruptcy Proceedings
TODAYTECH ASIA: Court To Hear Receiver's Application on Dec 1
WAYSON INVESTMENT: Bankruptcy Petition Hearing Set December 8
WINLOK MANUFACTURING: Receives Winding Up Petition Notice
I N D O N E S I A
ADES WATERS: JSX Fines Management
MERPATI NUSANTARA: Ready to Dispose Of Assets for Survival
J A P A N
ALL NIPPON: Consolidated Net Profit Soars 45.3%
ASHIKAGA FAKUTA: Faces Insolvency
HITACHI LIMITED: Seals Joint Venture with Toshiba, Matsushita
JAPAN TOBACCO: Sees Profits After Last Year's Loss
KOBE STEEL: JCR Assigns Preliminary A to Shelf Registration
KYOSEI RENTEMU: JCR Affirms BBB- on Senior Debts
SAPPORO FUYOU: Declared Bankrupt
SOJITZ HOLDINGS: Completes Payments, Issuance of Preferred Stock
TOKYO ONSEN: Enters Bankruptcy
TOSHIBA CORPORATION: Returns to Profitability
TOSHIBA CORPORATION: Reveals Third-Party Scheme for Notebook PCs
UFJ HOLDINGS: Integrates Operations Through Corporate Split
UFJ HOLDINGS: Reschedules Strategic Alliance with Nippon Shinpan
K O R E A
HANARO TELECOM: Details Resolution of General Meeting
KOOKMIN BANK: Unveils Result of Extraordinary Meeting
M A L A Y S I A
ACTACORP HOLDINGS: Unit Faces Winding Up Proceedings
ACTACORP HOLDINGS: Releases Litigation Update
AMSTEEL CORPORATION: Schedules AGM on November 22
AMSTEEL CORPORATION: SC OKs Restructuring Extension
ANCOM BERHAD: Issues Shares Buy Back Notice
AOKAM PERDANA: Implements Final Stage of Restructuring
ARTWRIGHT HOLDINGS: Seeks Rehab Scheme Extension
BESCORP INDUSTRIES: Discloses Practice Note 4/2001 Update
BESCORP INDUSTRIES: Details Default in Debt Payments
BRIGHT PACKAGING: Unveils FY04 Unaudited Quarterly Report
BUKIT KATIL: Discloses September 2004 Production Figures
BUKIT KATIL: Updates Loan Facilities
CONSOLIDATED FARMS: Unable to Pay Additional Principal, Interest
EKRAN BERHAD: Releases Default Status Update
P H I L I P P I N E S
NATIONAL POWER: November Bills To Bear New Generation Rates
NATIONAL POWER: IFC Offers Financing For Napocor Assets
PHILIPPINE BANK: Appoints Corpus as Acting President
S I N G A P O R E
D.S.E ENTERPRISE: Posts Dividend Notice
INFORMATICS HOLDINGS: Declares Change in Shareholder's Interest
MBIA SINGAPORE: Creditors to Prove Debts by November 29
NATSTEEL EQUITY: Creditors Must Submit Claims by November 29
PANPAC MEDIA: Notes Change in Shareholding
PANPAC MEDIA: Shareholder's Interest Changes
SECOND HOLDINGS: Issues Dividend Notice
STEENSTED PRIVATE: To Hold Final Meeting on November 29
WEE POH: Declares Adjournment Of AGM
T H A I L A N D
KRUNG THAI: Picks Apisak Tantivorawong as New President
THAI PETROCHEMICAL: Court's Decision Likely to be Delayed
TUNTEX THAILAND: Releases 2Q Review of Financial Report
TUNTEX THAILAND: Details Results of Operations
* BOND PRICING: For the Week 01 November to 05 November 2004
- - - - - - - -
=================
A U S T R A L I A
=================
81 MILLER: Receivers and Managers Appointed
-------------------------------------------
On 16 September 2004 St. George Bank Limited A.C.N. 055 513 070
of Level 9, 182 George Street, Sydney, NSW 2000 appointed John
Frederick Lord and John Maxwell Morgan, Chartered Accountants of
PKF, Level 10, 1 Margaret Street, Sydney, NSW, 2000 to be the
joint and several receivers and managers of all of the rights,
property and undertaking of whatever kind wherever situated
whether present or future owned by 81 Miller Pty Limited A.C.N.
106 015 007.
Solicitor for St George Bank Limited
c/- Phillips Fox
Solicitors
Level 38, 201 Elizabeth Street,
Sydney NSW 2000
ARISTOCRAT LEISURE: Nominates Non-executive Directors
-----------------------------------------------------
The Board of Aristocrat Leisure Limited (ALL) advised the
Australian Stock Exchange (ASX) that Ms. Sally Pitkin and Mr.
Roger Davis have been nominated for appointment to the Board of
the Company.
Appointment to the position of Director of Aristocrat is subject
to regulatory approval and for this reason this announcement
refers to the nomination of 'Directors Elect'.
The Chairman David Simpson said: "I am pleased to announce the
nomination of Sally Pitkin and Roger Davis and welcome them to
the Board."
"Sally Pitkin is a former partner of Clayton Utz in Brisbane and
has been a director of a number of prominent Australian
companies. She is currently a Director of Australian
Hospitality and Leisure Group Limited and Ceramic Fuel Cells
Limited. Sally is a respected corporate lawyer and a member of
the Company Law Committee of the Queensland Law Society and Law
Council of Australia."
"Roger Davis has had a distinguished career at Citicorp and
CitiGroup Inc., in the United States and Japan, and at the ANZ
Banking Group Limited in Sydney. Roger is currently Consulting
Director-Investment Banking at N M Rothschild's and Sons
(Australia Ltd) in Sydney."
Mr. Simpson went on to say: "The Board is confident that the new
'Directors elect' have the relevant experience and
qualifications to make a significant contribution to the Company
as we continue to develop our domestic and international
business."
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
AUSTRALIAN FOODS: Placed in Receivership
----------------------------------------
West Australian grain business Australian Foods Company has been
placed in receivership, according to ABC Rural News.
The National Agricultural Commodities Marketing Association has
already issued a statement confirming the news.
South Australian Farmers Federation (SAFF) president John Lush
said the recent development has left a number of growers unpaid,
warning growers to trade with reputable companies.
"We've had quite a few on our books that have been complaining
about slow payment.
"A lot of them have been paid in the last 10 or 12 months, but I
know there's some outstanding ones as well.
"I'm not sure how many, but I know there are some; and I know
one of them is about $30,000 that's been owing for some time; so
yeah, those people would be very disappointed to hear this
news."
CONTACT:
Australian Foods Company Pty Ltd
PO Box 6657
East Perth 6892
Western Australia
Phone: +61 8 9225 4988
Facsimile: +61 8 9225 6392
e-mail: info@australianfoods.com
Web site: http://www.australianfoods.com
BONFAME PTY: To Face Voluntary Winding Up Proceedings
-----------------------------------------------------
Notice is hereby given that at general meetings of the members
of each of Bonfame Pty Ltd held on 8 September 2004, it was
resolved that the Company be wound up voluntarily by the members
and that, Richard Herbert Judson of Members Voluntarys Pty Ltd
be appointed liquidator.
Dated this 8th day of September 2004
Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189
CHAYETT PTY: Members Resolve to Voluntarily Wind Up
---------------------------------------------------
Notice is hereby given that at the general meeting of the
members of each of Chayett Pty Ltd held on 8 September 2004, it
was resolved that the Company be wound up voluntarily by the
members and that, Richard Herbert Judson of Members Voluntary
Pty Ltd be appointed liquidator.
Dated this 8th day of September 2004
Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189
CHEMEQ LIMITED: Sets AGM on November 29
---------------------------------------
Notice is given that the Annual General Meeting (AGM) of
shareholders of Chemeq Limited will be held in Function Rooms 1
& 2 at Technology Park Function Centre, 2 Brodie-Hall Drive,
Bentley, Western Australia on Monday, 29 November 2004 at 10:30
a.m.
The attached Explanatory statement is provided to supply
shareholders with information to enable them to make an informed
decision regarding the resolutions set out in this Notice. The
Explanatory Statement is intended to be read in conjunction with
and forms part of this Notice.
To view the full release, click on:
http://bankrupt.com/misc/TCRAP_CHEMEQLIMITED110104.pdf
CONTACT:
Chemeq Limited
Suite 8 Petroleum House
3 Brodie Hall Drive, Technology Park
Bentley, Australia, 6102
Telephone: 08 9362 0100
Fax: 08 9355 0199
Web site: http://www.chemeq.com.au/
CHEMEQ LIMITED: Issues 4C Commitments Report
--------------------------------------------
Chemeq Limited has released its Commitments Report for the
quarter ended September 30, 2004.
Please note that:
(1) Chemeq has finalized a fully underwritten rights issue and
banked AU$19.1 million on 6 October 2004;
(2) During September 2004 Chemeq repaid AU$2 million of its AU$5
million short-term debt facility;
(3) Expenditure to 30 September 2004 is in line with the
Company's 2004/05 Budget which provides for adequate working
capital to 30 June 2005;
(4) As at 30 September 2004, Chemeq's cash at bank was AU$2.9
million with creditors and accruals of AU$2.6 million;
(5) AU$10.3 million of the AU$10.9 million in payments for
acquisition of physical non-current assets for the September
2004 quarter relate to a reduction in construction creditors for
the recently completed manufacturing facility at Rockingham and
were previously reported as part of the total estimated costs of
the facility.
To view the full release, click on:
http://bankrupt.com/misc/TCRAP_2CHEMEQLIMITED110104.pdf
COMINDICO AUSTRALIA: SPT Acquires Assets, Business
--------------------------------------------------
In an SP Telemedia (SPT) disclosure to the Australian Stock
Exchange (ASX), it announced that it had reached agreement to
acquire the assets and business of Comindico from the Receivers,
McGrathNicol.
SPT has acquired one of Australia's first and largest fully
convergent IP based networks, capable of carrying voice data and
video simultaneously, at a fraction of its original construction
cost. This network complements and enhances the existing SPT IP
network and positions the Company for further growth.
The acquisitions will enable SPT to further expand its current
extensive regional IP broadband network and significantly
increase the capital city network and presence of SPT. The
acquisition will also enable SPT to add a number of new products
to the current SPT product suite, mainly in the voice, dial-up
Internet and broadband markets and, importantly, this will be on
owned infrastructure.
To view a full copy of the disclosure, click
http://bankrupt.com/misc/COMINDICOAUSTRALIA110104.pdf
CONTACT:
Comindico Australia Pty Ltd.
Level 15, 201 Kent Street
Sydney NSW 2000
Australia
GPO Box N800 Grosvenor Place
NSW 1220
Australia
Telephone: +61 2 8220 6000
ECH INVESTMENTS: To Undergo Voluntary Winding Up Process
--------------------------------------------------------
Notice is hereby given that a circulating resolution of members
of ECH Investments Pty Ltd (In Liquidation) A.C.N. 009 556 978
passed in accordance with section 249A of the Corporations Act
2001, that the Company be wound up as a members' voluntary
winding up.
Dated this 13th day of September 2004
Simon Wallace-Smith
Salvatore Algeri
Liquidators
FAMIT PTY: Voluntarily Winds Up
-------------------------------
Notice is hereby given that at the general meeting of the
members of Famit Pty Ltd held on 8 September 2004, it was
resolved that the Company be wound up voluntarily by the members
and that, Richard Herbert Judson of Members Voluntarys Pty Ltd
be appointed liquidator.
Dated this 8th day of September 2004
Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189
FRESH CHAIN: Enters Voluntary Winding Up Proceedings
----------------------------------------------------
At an Extraordinary General Meeting of Fresh Chain Limited (In
Member's Voluntary Liquidation) held on 7 September 2004, the
Company's members resolved to wind up the Company voluntarily
and to appoint Michael Scales and John Georgakis of Ernst &
Young, 120 Collins Street, Melbourne as Liquidators of the
Company.
Dated this 17th day of September 2004
Michael Scales
John Georgakis
Liquidators
Fresh Chain Limited (in liquidation)
Ernst & Young
Chartered Accountants
Level 27, 120 Collins Street,
Melbourne Vic 3000
HOGER DEVELOPMENTS: Winds Up Voluntarily
----------------------------------------
Notice is hereby given that at the general meeting of the
members of Hoger Developments Pty Ltd held on 8 September 2004,
it was resolved that the Company be wound up voluntarily by the
members and that, Richard Herbert Judson of Members Voluntarys
Pty Ltd be appointed liquidator.
Dated this 8th day of September 2004
Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189
HUME INDUSTRIAL: Receivers and Managers Named
---------------------------------------------
On 16 September 2004 St. George Bank Limited A.C.N. 055 513 070
of Level 9, 182 George Street, Sydney, NSW 2000 appointed John
Frederick Lord and John Maxwell Morgan, Chartered Accountants of
PKF Chartered Accountants, Level 10, 1 Margaret Street, Sydney,
NSW, 2000 to be the joint and several receivers and managers of
all the rights, property and undertaking of whatever kind
wherever situated whether present or future owned by Hume
Industrial Estate Pty Limited A.C.N. 095 855 137.
Solicitor for St George Bank Limited
c/- Phillips Fox
Solicitors
Level 38, 201 Elizabeth Street,
Sydney NSW 2000
MORTGAGE INVESTMENTS: Bank Appoints Receivers and Managers
----------------------------------------------------------
On 16 September 2004 St. George Bank Limited A.C.N. 055 513 070
of Level 9, 182 George Street, Sydney, NSW 2000 appointed John
Frederick Lord and John Maxwell Morgan, Chartered Accountants of
PKF Chartered Accountants, Level 10, 1 Margaret Street, Sydney,
NSW, 2000 to be the joint and several receivers and managers of
all of the rights, property and undertaking of whatever kind
wherever situated whether present or future owned by Mortgage
Investments Australia Pty Limited A.C.N. 095 596 473.
Solicitor for St George Bank Limited
c/- Phillips Fox
Solicitors
Level 38, 201 Elizabeth Street,
Sydney NSW 2000
NATIONAL AUSTRALIA: To Source Share Registry Services Externally
----------------------------------------------------------------
National Australia Bank disclosed that it has signed an
agreement with Computershare Investor Services Pty Ltd for the
provision of Share Registry Services.
The decision to source Share Registry Services externally will
allow the National to continue to improve its level of services
to the shareholders through access to new technology and the
advantages Computershare can provide as a global service
provider.
Computershare has historically supported the National's internal
Share Registry operations by providing systems for managing the
Share Registry, document mailing and Annual General Meeting
services. Staff previously employed by the National's Share
Registry will take up positions with Computershare to ensure
continuity of service.
Further details regarding the contact details for Computershare
are available on the Shareholder Center.
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/
NK HOLDINGS: Names Receivers and Managers
-----------------------------------------
On 16 September 2004 St. George Bank Limited A.C.N. 055 513 070
of Level 9, 182 George Street, Sydney, NSW 2000 appointed John
Frederick Lord and John Maxwell Morgan, Chartered Accountants of
PKF Chartered Accountants, Level 10, 1 Margaret Street, Sydney,
NSW, 2000 to be the joint and several receivers and managers of
all of the rights, property and undertaking of whatever kind
wherever situated whether present or future owned by NK Holdings
(Australia) Pty Limited A.C.N. 099 576 520.
Solicitor for St George Bank Limited
c/- Phillips Fox
Solicitors
Level 38, 201 Elizabeth Street,
Sydney NSW 2000
PIVOT EMPLOYEE: To Undergo Voluntary Winding Up Process
-------------------------------------------------------
Notice is hereby given that a circulating resolution of members
of Pivot Employee Share Plan Administration Company Pty Ltd (In
Liquidation) A.C.N. 081 197 499 passed in accordance with
section 249A of the Corporations Act 2001, that the Company be
wound up as a members' voluntary winding up.
Dated this 13th day of September 2004
Simon Wallace-Smith
Salvatore Algeri
Liquidators
S&D COURIERS: Members Resolve to Wind Up Voluntarily
----------------------------------------------------
Notice is hereby given that at the general meeting of the
members of S&D Couriers Pty Ltd held on 8 September 2004, it was
resolved that the Company be wound up voluntarily by the members
and that, Richard Herbert Judson of Members Voluntarys Pty Ltd
be appointed liquidator.
Dated this 8th day of September 2004
Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189
TARLOMEENE PTY: Appoints Richard Judson as Liquidator
-----------------------------------------------------
Notice is hereby given that at the general meeting of the
members of Tarlomeene Pty Ltd held on 8 September 2004, it was
resolved that the Company be wound up voluntarily by the members
and that, Richard Herbert Judson of Members Voluntarys Pty Ltd
be appointed liquidator.
Dated this 8th day of September 2004
Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189
TERRACREST PTY: Enters Voluntary Winding Up Process
---------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Terracrest Pty Limited (In Liquidation) formerly
trading as Deckchairs Cafe Bar held on 7 September 2004, it was
resolved that the Company be wound up voluntarily and at a
meeting of creditors held on the same day it was resolved that
for such purpose, Morgan Chubb of Clout & Associates, Chartered
Accountants, Level 1, 144-148 West High Street Coffs Harbour NSW
2450 be appointed Liquidator.
Dated this 14th day of September 2004
M.J. Chubb
Liquidator
Clout & Associates
Chartered Accountants
Telephone: (02) 6652 3288,
Facsimile: (02) 6651 9393
VOYAGER GROUP: Winds Up Voluntarily
-----------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Voyager Group Pty Limited (In Liquidation) held on
8 September 2004, it was resolved that the Company be wound up
voluntarily and at a meeting of creditors held on the same day
it was resolved that for such purpose, Raymond George Tolcher of
Lawler Partners, Chartered Accountants, 763 Hunter Street,
Newcastle West NSW 2302 be appointed Liquidator.
Dated this 28th day of September 2004
R.G. Tolcher
Liquidator
Lawler Partners
Chartered Accountants
763 Hunter Street,
Newcastle West NSW 2302
==============================
C H I N A & H O N G K O N G
==============================
RISE PROFIT: Faces Winding Up Proceedings
-----------------------------------------
Notice is hereby given that a petition for the winding up of
Rise Profit Investment Limited by the High Court of Hong Kong
Special Administrative Region was on the 14th day of October
2004 presented to the said Court by China Merchants Bank of No.
2 Shennan Road Central, Shenzhen, the People's Republic of
China.
The said Petition will be heard before the Court at 9:30 am on
the 1st day of December 2004.
Any creditor or contributory of the said Company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said Company requiring the same
by the undersigned on payment of the regulated charge for the
same.
Hastings & Co.
Solicitors for the Petitioner
5th Floor, Gloucester Tower
The Landmark, 11 Pedder Street
Central, Hong Kong
Note: Any person who intends to appear on the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 30th day of
November 2004.
SING MING: Enters Bankruptcy Proceedings
----------------------------------------
Notice is hereby given that a petition for the winding up of
Sing Ming Logistics Company Limited by the High Court of Hong
Kong Special Administrative Region was on the 12th day of
October 2004 presented to the said Court by ATL Logistics Centre
Hong Kong Limited whose principal place of business in Hong Kong
is situated at Unit 13108S, 13th Floor, ATL Logistics Centre-B,
Berth No. 3, Kwai Chung Container Terminal, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 24th day of November 2004.
Any creditor or contributory of the said Company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said Company requiring the same
by the undersigned on payment of the regulated charge for the
same.
Wilkinson & Grist
Solicitors for the Petitioner
6th Floor, Prince's Building
10 Chater Road
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 23rd day of
November 2004.
TODAYTECH ASIA: Court To Hear Receiver's Application on Dec 1
-------------------------------------------------------------
An application by the Official Receiver and Provisional
Liquidator of Todaytech Asia Limited will be heard before Master
S. Kwang of the High Court on December 1, 2004 at 2:30 p.m. for
consideration of the resolutions and determinations (if any) of
the first meetings of creditors held on 2 September 2004 and the
first meeting of contributories and adjourned first meeting of
contributories held on 2 September 2004 and 9 September 2004
respectively, deciding the differences (if any), and making such
order of appointments as the court may think fit.
Place of Hearing: High Court Building, No. 38 Queensway, Hong
Kong.
Any creditor or contributory of the Company is entitled to
attend and be heard at the above hearing.
Dated this 29th day of October 2004
E T O'CONNELL
Official Receiver & Provisional Liquidator
WAYSON INVESTMENT: Bankruptcy Petition Hearing Set December 8
-------------------------------------------------------------
Notice is hereby given that a petition for the winding up of
Wayson Investment Company Limited by the High Court of Hong Kong
Special Administrative Region was on the 12th day of October
2004 presented to the said Court by Bank of China (Hong Kong)
Limited whose registered office is situated at 14th Floor, Bank
of China Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 8th day of December 2004.
Any creditor or contributory of the said Company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said Company requiring the same
by the undersigned on payment of the regulated charge for the
same.
Gallant Y. T. Ho & Co
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 7th day of
December 2004.
WINLOK MANUFACTURING: Receives Winding Up Petition Notice
---------------------------------------------------------
Notice is hereby given that a petition for the winding up of
Winlok Manufacturing Limited by the High Court of Hong Kong
Special Administrative Region was on the 6th day of October 2004
present to the said Court by Bank of China (Hong Kong) Limited
whose registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 17th day of November 2004.
Any creditor or contributory of the said Company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said Company requiring the same
by the undersigned on payment of the regulated charge for the
same.
Arthur K. H. Chan & Co.
Solicitors for the Petitioner
Unit C1, 15th Floor, United Centre
No. 95 Queensway
Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 16th day of
November 2004.
=================
I N D O N E S I A
=================
ADES WATERS: JSX Fines Management
---------------------------------
The Jakarta Stock Exchange (JSX) finally imposed a fine on PT
Ades Waters Indonesia Tbk (ADES) management, as it was unable to
provide an explanation regarding the discrepancy between
production and sales figures as it previously announced,
Indoexchange relates.
JSX President Director Erry Firmansyah confirmed the bourse has
issued a notice and imposed a penalty upon ADES' management.
Mr. Erry explained ADES management was only subjected to notice
and fine sanctions since they are still new and have yet to
understand regulations of the equity market and JSX. He added
that the management had earlier issued a statement on the
difference found in the Company's figures.
According to Mr. Erry, the bourse has suspended trading of ADES
shares following the information disclosure.
"The revocation of suspension over trading of ADES shares will
soon be implemented as soon as the management has repaid the
charged fine," he said.
ADES' September 2004 financial report revealed that the Company
gained net sales of IDR92.12 billion, lower than the IDR130.27
billion achieved year-on-year. However, operating expenses in
2004 dropped to IDR54.84 billion from IDR58.36 billion in the
same period last year.
As of September 2004, the Company has suffered a net loss of
IDR31.46 billion, which surged almost 300 percent from IDR8.35
billion year-on-year.
MERPATI NUSANTARA: Ready to Dispose Of Assets for Survival
----------------------------------------------------------
Ailing PT Merpati Nusantara Airlines is poised to divest a
portion of its assets, particularly profitable ones, as part of
efforts to survive through privatization, Antara reports.
Merpati' secretary, Pujiyono, confirmed the embattled carrier is
serious in the planned assets disposal, saying the divestment
was one of the options to support the Company's goal to improve
its financial balance.
The firm's shareholders had called for a business plan after the
parliament approved the program to survive through
privatization, the first phase of which will include an IDR600
billion shares issuance.
"Consequently, since selling assets is necessary, we are ready
to do it. We are also ready to sell and lease back our
aircraft," Mr. Pujiyono said.
He, however, refused to divulge when the plan will be carried
out and how much money the assets sale could generate.
In the past seven years, Merpati suffered a negative equity,
burdened with IDR1.3 trillion worth of liabilities and assets
standing at only IDR800 billion.
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
=========
J A P A N
=========
ALL NIPPON: Consolidated Net Profit Soars 45.3%
----------------------------------------------
The All Nippon Airways (ANA) Group on Friday announced its
financial results for the first six months of fiscal 2004 (April
1 - September 30), posting a consolidated net profit of JPY29.8
billion, up JPY9.3 billion or 45.3% compared with the same
period last year, and marking a fifth successive quarter of
profitable operations.
Revenue for the period was JPY659.4 billion, operating profit
JPY59.7 billion and recurring profit JPY53.1 billion. These
figures show a significant year-on-year improvement of JPY51.1
billion, JPY45.3 billion and JPY38.7 billion, respectively.
The ANA Group is comprised of more than 100 air transportation,
travel-related and other businesses. On a consolidated air
transportation segment basis, a revenue of JPY546.5 billion and
an operating profit of JPY54.1 billion were posted for the six-
month period.
The five airlines within ANA Group, comprising of ANA (All
Nippon Airways), ANK (Air Nippon), AJX (Air Japan), A-Net (Air
Nippon Network), ADK (Air Hokkaido), carried 24.5 million
passengers over 29.2 billion Revenue Passenger Kilometers (RPK),
which breaks down into 22.5 million domestic and 2 million
international passengers over 19.6 billion RPKs and 9.6 billion
RPKs respectively.
The entire network performed well, with Europe and North America
routes producing particularly strong results, as evidenced by an
average load factor in excess of 80%. Leisure travel demand to
China returned to pre-SARS levels from the summer; business
demand had rebounded strongly at the end of the crisis last
year. Overall, a 36.6% increase in passenger numbers and a
JPY24.4 billion increase in revenue were reported for Chinese
routes compared with the previous year.
Domestically, passenger numbers were down 1.3% as ANA cut the
number of available seats by 4.7%; however, revenues rose by 2.5
% or JPY8.3 billion yen year-on-year. Among other factors, this
can largely be attributed to the introduction of the FAM (Fleet
Assignment Model) system, which matches aircraft-size to
passenger demand, and also to the Passenger Revenue Optimization
System (PROS), which assigns fares per seat according to demand.
Despite revenue and passenger growth, rising oil prices will
significantly increase ANA's operating costs over the remainder
of the financial year. Therefore no change will be made to the
previously announced consolidated forecast for fiscal 2004 of a
net profit of JPY14 billion, on revenue of JPY1.26 trillion and
a recurring profit of JPY29.0 billion.
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
ASHIKAGA FAKUTA: Faces Insolvency
---------------------------------
Ashikaga Fakuta K.K., a firm engaged in the credit and finance
business, is facing insolvency, says Teiloku Databank America.
The Company, which is based in Utsunomiya-shi, Tochigi 320-0043,
has total liabilities of US$288.98 million.
For more information, visit http://www.teikoku.com/.
HITACHI LIMITED: Seals Joint Venture with Toshiba, Matsushita
-------------------------------------------------------------
Hitachi, Ltd., Toshiba Corporation, Matsushita Electric
Industrial Co. Ltd., and wholly owned Hitachi subsidiary Hitachi
Displays Ltd. on Friday officially concluded a joint venture
agreement to establish a Company to manufacture and sell LCD
panels for flat panel TVs. This agreement follows a basic
agreement signed on August 31 this year.
The joint venture, to be called IPS Alpha Technology, Ltd. (IPS
Alpha), is scheduled to commence operations on January 1, 2005.
President of Hitachi Displays, Mr. Fumiaki Yonai, will serve
concurrently as president of IPS Alpha.
IPS Alpha will manufacture LCD panels using Hitachi Displays'
world-leading IPS mode system technology. Close collaboration
with IPS Alpha is expected to achieve synergies in the
production of finished products at Hitachi, Toshiba and
Matsushita, allowing them to achieve LCD TVs that are even more
competitive in terms of performance and price.
IPS Mode System Technology
In-Plane-Switching (IPS) mode system is a type of TFT LCD
display technology. IPS is distinguished by a wide 170-degree
viewing angle, both horizontally and vertically, along with
minimal gray-scale inversion and viewing-angle dependency,
reproducing lifelike images, which is made possible because the
liquid crystal molecules can rotate while remaining parallel to
the substrate when a voltage is applied, yielding perfect
orientation of the crystals.
The advanced super (AS)-IPS mode system for use in televisions,
large-screen monitors and other applications achieves an
approximate 30% improvement in the aperture ratio over
conventional IPS technology. Furthermore, AS-IPS realizes a
higher level of brightness and reproduces colors more
realistically thanks to high-purity color filters and other
proprietary technologies.
Outline of IPS Alpha
(1) Company name: IPS Alpha Technology, Ltd.
(2) President: Fumiaki Yonai
(3) Commencement of operations: January 1, 2005
(4) Projected capital: JPY60-70 billion
(5) Ownership: Hitachi Displays JPY30-35 billion (50%);
Toshiba JPY15 billion (21-25%);
Matsushita JPY15 billion (21-25%);
other companies JPY0-5 billion (0-8% projected)
(6) Location: Mobara, Chiba Prefecture, Japan
(7) Business: Manufacture, design, sales and related
maintenance and services of amorphous TFT LCD panels
(8) Capital investment: Approx. JPY110 billion
(9) Products: Amorphous TFT LCD panels for TVs
23-inches and above
(10) Production capacity: Equivalent of 2.5 million 32-inch
units per year (Maximum output scheduled to be realized in
second half of fiscal 2008).
CONTACT:
Hitachi, Ltd.
Kantaro Tanii
Public Relations
Corporate Communications Division
Phone: +81-3-5208-9323
Fax: +81-3-4564-2149
E-mail: kantaro.tanii.gx@hitachi.com
Toshiba Corporation
Midori Suzuki
International Media Relations Group
Corporate Communications Office
Phone: +81-3-3457-2105
Fax: +81-3-5444-9202
E-mail: press@toshiba.co.jp
Matsushita Electric Industrial Co., Ltd.
Mike Kitadeya / Karl Takahashi
International PR
Phone: +81-6-6949-2293
Fax: +81-6-6949-2255
Panasonic News Bureau
Phone: +81-3-3542-6205
Fax: +81-3-3542-9018
E-mail: panasonic-pr@gci-sunpub.co.jp
JAPAN TOBACCO: Sees Profits After Last Year's Loss
--------------------------------------------------
Japan Tobacco Incorporated posted a record high net and pretax
profits on all-time high sales during the first half of the
current fiscal year ending September 30, Kyodo News reports.
The improved figures, which offset last year's huge losses, are
due mainly to strong tobacco sales overseas.
The group saw its net profit climbed to JPY75.05 billion from
last year's JPY49.23 billion loss. Pre-tax profit came to
JPY137.83 billion, up 15.9 percent from the previous year, on
sales that rose 2.2 percent to JPY2,369.26 billion.
According to the Company, the year-before loss resulted from an
extraordinary loss of JPY185 billion due to an accounting policy
change regarding a pension program.
Per-share net profit in the current year's first half reached
JPY38,406.74 against a year-before loss of JPY24,614.34.
With the upward trend in domestic and overseas sales, Japan
Tobacco revised upward its forecast for the full year to next
March 31.
It now expects to post JPY79 billion in group net profit against
the previous year's loss of JPY7.6 billion. Pretax profit is
projected to increase 18.4 percent to JPY253 billion on sales of
JPY4,670 billion, up 1.0 percent.
JT kept interim dividend payments for the first half unchanged
from a year earlier at JPY5,000 per share.
CONTACT:
Japan Tobacco Inc.
2-1, Toranomon 2-chome, Minato-ku
Tokyo, 105-8422, Japan
Phone: +81-3-3582-3111
Fax: +81-3-5572-1441
Web site: http://www.jti.co.jp
KOBE STEEL: JCR Assigns Preliminary A to Shelf Registration
-----------------------------------------------------------
The Japan Credit Rating Agency Limited (JCR) has assigned a
preliminary A rating to the shelf registration of Kobe Steel
Limited.
Shelf Registration Maximum Valid
JPY200 billion two years effective
from June 24, 2004
Rationale:
JCR announced the upgrade of the long-term rating for Kobe Steel
from A- to A on October 4, 2004. There have been no significant
changes in the performance and the financial structure of the
Company that affect the rating since then.
The proceeds from sales of bonds to be issued under the shelf
registration will be used for repayment of the borrowings,
redemption of bonds, capital spending and operation fund. Kobe
Steel plans to improve the financial structure continually.
CONTACT:
Kobe Steel, Ltd.
10-26, Wakinohama-Cho 2-Chome
Shinko Building
Chuo-Ku, Kobe 651-8585
Japan
Phone: +81 78 2615183
Fax: +81 78 2614123
Web site: http://www.kobelco.co.jp/indexe.htm
KYOSEI RENTEMU: JCR Affirms BBB- on Senior Debts
------------------------------------------------
The Japan Credit Rating Agency Limited (JCR) has affirmed the
BBB- rating on senior debts of Kyosei Rentemu Co., Ltd.
Rationale:
Kyosei Rentemu is a major construction machinery rental firm,
operating primarily in Hokkaido. Kyosei Rentemu has been
strengthening utilization of its own assets to be rent, which is
highly profitable, and reducing the costs. These efforts are now
paying off.
However, Kyosei Rentemu failed to make a full-fledged
improvement in the performance. There is little concern about
deterioration in the financial structure due to purchase of
leasing assets because it screens out low-operation machinery,
leasing from other in such a case, to increase asset
utilization.
It is unlikely that business environment will improve. The
business environment puts downward pressure on the cash flow
generation capability.
JCR considers that Kyosei Rentemu should further cut back the
debt in addition to increasing the revenue and raising
utilization of the leasing assets by cultivating new clients in
order to keep the debt service capability.
CONTACT:
Kyosei Rentemu Company Limited
14 Kita 1-Chome, Nishi-Juhachijo
Obihiro 080-0048, Hokkaido 080-0048
Japan
Phone: +81 155 33 1380
Fax: +81 155 34 6643
Web site: http://www.kyosei-rentemu.co.jp/
SAPPORO FUYOU: Declared Bankrupt
--------------------------------
Sapporo Fuyou Biru K.K. has been declared bankrupt, according to
Teikoku Databank America. The real estate developer, which is
located in Chuo-su, Tokyo 103-0027, left US$93.55 million in
total liabilities.
For more information, visit http://www.teikoku.com/.
SOJITZ HOLDINGS: Completes Payments, Issuance of Preferred Stock
----------------------------------------------------------------
Sojitz Holdings Corporation had resolved to issue preferred
stock in the amount of JPY360 billion to UFJ Bank, Mizuho
Corporate Bank, Bank of Tokyo-Mitsubishi and UBS Group at the
meeting of its Board of Directors held on September 29, 2004 as
announced on the same day, and payments and issuance of all
preferred stock were completed by Friday.
Payment and issuance of convertible bonds in the amount of JPY10
billion to UBS Group were completed today as well. The Sojitz
Group's equity financing of JPY370 billion based on the
"New Business Plan" will enable us to reinforce shareholders'
equity as planned and reduce interest-bearing debts.
As a result of this capital reinforcement, the Sojitz Group has
made a leap towards realizing one of the fundamental policies of
the New Business Plan, the "Establish a Robust Financial
Position". The Sojitz Group will pursue the goal to realize the
"Evolution to a Quality Earnings Structure".
For details on the 1st series Class IV preferred stock, 1st
series Class V preferred stock, 2nd series Class V preferred
stock, 1st series Class VI preferred stock and 1st series
unsecured convertible bonds (guaranteed by Sojitz Corporation),
please refer to our disclosure material on September 29, 2004
titled "Allotment of Preferred Stock to Third Parties and
Issuance of Convertible Bonds" or go to http://www.sojitz-
holdings.com/eng/ir/index.html.
CONTACT:
Sojitz Holdings Corporation
1-23,Shiba 4-chome, Minato-ku
Tokyo, 108-8405, Japan
Phone: +81-3-5446-111
Fax: +81-3-5446-1365
Web site: http://www.sojitz.com
TOKYO ONSEN: Enters Bankruptcy
------------------------------
Restaurant operator Tokyo Onsen K.K. has entered bankruptcy with
total liabilities of US$275.83 million, according to Teikoku
Databank America. The firm is based in Chuo-ku, Tokyo 104-0061.
For more information, visit http://www.teikoku.com/.
TOSHIBA CORPORATION: Returns to Profitability
--------------------------------------------
Toshiba Corporation on Friday announced its consolidated and
non-consolidated results for the first half (April-September) of
fiscal year (FY) 2004.
Overview of Consolidated and Non-consolidated Results for First
Half of FY 2004
The Japanese economy continued to move toward recovery in the
first half of FY2004, despite continuing concerns about
unemployment, as consumer spending edged upward and export and
capital expenditure increased. Overseas, the US economy
continued to expand, as did China and other Asian economies,
while Europe saw slow recovery. In these circumstances,
Toshiba's consolidated and non-consolidated business result for
the first half of FY2004 were as follow:
Consolidated Results
Consolidated sales were JPY2,781.8 billion (US$25,061 million),
an increase of JPY 173.5 billion from the same period of the
previous year.
Consolidated operating income (loss) improved by JPY62.7 billion
from the same period a year ago to JPY50.7 billion (US$457
million). Electronic Devices saw operating income rise and
Digital Products, Social Infrastructure and Home Appliances
reported improved operating income (loss) from the same period a
year ago.
Income (loss) before income taxes, minority interest and equity
in earnings of affiliates rose by JPY39.1 billion from the year-
earlier period to JPY21.5 billion (US$193 million). Net income
(loss) advanced by JPY40.6 billion from the same period of the
previous year to JPY8.4 billion (US$75 million).
Non-consolidated Results
Non-consolidated sales declined by JPY127.6 billion from the
same period of the previous year to JPY1,332.0 billion
(US$12,000 million). This figure reflects the impact of
businesses transferred from the parent Company to group
companies. If those businesses were included, non-consolidated
net sales would increase by 9%. Recurring profit (loss) improved
by JPY29.2 billion from the year-earlier period to JPY15.2
billion (US$137 million). Net income (loss) was JPY2.3 billion
(US$20 million), an increase by JPY4.8 billion from a year
earlier period.
To view the full release, click on:
http://bankrupt.com/misc/TCRAP_TOSHIBACORPORATION110104.pdf
CONTACT:
Toshiba Corporation
1-1, Shibaura 1-chome, Minato-ku
Tokyo, 105-8001, Japan
Phone: +81-3-3457-4511
Fax: +81-3-3455-1631
Web site: http://www.toshiba.com
TOSHIBA CORPORATION: Reveals Third-Party Scheme for Notebook PCs
----------------------------------------------------------------
Toshiba Corporation has announced in a press release that it has
identified a potential issue relating to memory module
components ("the components") which are incorporated into
specific models of Toshiba notebook PCs.
The components, under certain conditions and when used in
combination with certain other components, might potentially
cause blue screens or intermittent PC lockups, or undetected
memory data corruption, though the possibility of any of these
events occurring is extremely low.
The components in question are not manufactured by Toshiba; they
were supplied by third parties.
Toshiba takes a consumer-oriented approach to its PC business
and is determined to minimize any possible impact that customers
may experience from this issue. Accordingly, the Company is
voluntarily initiating an exchange program, at no cost to
customers, for those components that are contained in certain
Toshiba notebook PCs. A full list of PCs that may potentially
contain the components is at the end of this announcement; not
all of these PCs contain the subject components. The program
will run worldwide from November 1, 2004 until April 30, 2005.
Toshiba no longer uses the subject components in its notebook
PCs currently in production.
Customers who own any of the notebook PCs listed below can
download a Toshiba-developed utility that analyzes their PC's
system to determine whether or not it contains the subject
components. The utility can be downloaded from Toshiba's website
or from the Toshiba websites serving each region. Alternatively,
customers can also receive a copy of the utility on CD media by
calling their local Toshiba customer service center. If the
utility identifies the component as being contained in the
customer's PC, it provides the customer with all the information
required to receive a free replacement component.
For more details, please see the Toshiba America Information
Systems, Inc. web posting at www.toshibadirect.com/CEP or call
our customer service representatives at 1-866-544-1325.
List of PCs
TECRA S1
TECRA 9100
TECRA M1
TECRA M2
Satellite 2400
Satellite 2405
Satellite 1110
Satellite 1115
Satellite Pro M10
Satellite Pro M15
Satellite M30
Satellite M35
Portege R100
Portege M200/M205
Dynabook T5
Dynabook E6
Dynabook V7
Dynabook Satellite M10
dynabook SS S7
dynabook SS 2100
dynabook E7
dynabook V8
dynabook V9
dynabook VX1
dynabook SS M200
PCs not on this list do not contain the subject component and
are not part of this exchange program.
UFJ HOLDINGS: Integrates Operations Through Corporate Split
-----------------------------------------------------------
The boards of directors of UFJ Bank Limited (UFJ Bank) and UFJ
Trust Bank Limited (UFJ Trust), which are both subsidiaries of
UFJ Holdings Incorporated, have determined that a part of UFJ
Trust's operations related to large borrowers will be
transferred to UFJ Bank by means of corporate split on December
3, 2004 as set forth below.
(1) Objective
UFJ Group determined its policy on September 28, 2004 that a
part of operations of UFJ Trust related to large borrowers would
be transferred and integrated to UFJ Bank. Through
Centralization of planning, following up and other processes on
revitalization and disposal scheme of large borrowers, UFJ Group
seeks to improve efficiency in operations and credit risk
management. Considering the actual structure of transfer, UFJ
Group has determined to unify the credit risk management related
to large borrowers within the group early by conducting
assimilation-type corporate split whereby new shares are issued
to the Company effecting such a transaction.
(2) Outline
i. Schedule
October 28, 2004: UFJ Bank's board meeting to approve the
corporate split agreement
October 29, 2004: UFJ Trust's board meeting to approval the
corporate split agreement
October 29, 2004: Conclusion of the corporate split agreement
October 29, 2004: Class shareholders meeting for Class E
Preferred Shares
Series 1 of UFJ Bank
December 3, 2004: Date of corporate split
ii. Measures of corporate split
- An assimilation-type corporate split, whereby new shares of
the successor Company (UFJ Bank) are issued to the Company
effecting such a transaction (UFJ Trust), will be conducted.
- In the corporate split, UFJ Bank will issue shares to UFJ
Trust as outlined below:
Name and type of shares: Class G Preferred Shares Series 2
(Nonvoting preferred share)
Number of shares issued: 20,000,000 shares
iii. Outline of rights and obligations to be divided and
transferred
- Operations: Operations related to a division in charge of a
part of large borrowers
- Assets: Loans, etc. to clients belonging to the operations
- Liabilities: Call money, etc. belonging to the operations
- Contracts: Positions on contracts related to the operations
and rights and obligations based on such contracts
CONTACT:
UFJ Holdings, Inc.
5-6, Fushimimachi 3-chome,
Chuo-ku, Osaka-shi,
Osaka 541-0044,
Japan
Web site: www.ufj.co.jp
UFJ HOLDINGS: Reschedules Strategic Alliance with Nippon Shinpan
----------------------------------------------------------------
UFJ Bank Limited (UFJ Bank), UFJ Card Co., Ltd. (UFJ Card) and
Nippon Shinpan Co., Ltd. (Nippon Shinpan) advised that the
schedule for the consolidation of Nippon Shinpan to UFJ Bank and
the merger between Nippon Shinpan and UFJ Card shall be revised
from the one previously announced.
(1) Outline of Change
Although the core unit of UFJ Holdings, UFJ Bank, and Nippon
Shinpan have been preparing for the consolidation of Nippon
Shinpan to UFJ Bank and the merger between Nippon Shinpan and
UFJ Card, a subsidiary of UFJ Bank, in accordance with the final
agreement of strategic alliance entered into in January 2004,
the planned timing of the consolidation of Nippon Shinpan to UFJ
Bank and the merger between Nippon Shinpan and UFJ Card shall be
revised to around October 2005.
In accordance with the basic agreement on management integration
with Mitsubishi Tokyo Financial Group, Inc. (MTFG), UFJ Group is
considering card business strategy of the new group. In that,
UFJ NICOS Co., Ltd. (UFJ NICOS), a new Company formed by the
merger of Nippon Shinpan and UFJ Card, will formulate and
develop group wide retail business strategy as a core Company of
retail business division in line with the establishment of the
new group.
(2) Future Plan
In the course of the management integration between UFJ Group
and MTFG, one of the largest credit card groups in Japan with an
overwhelming operation size would be established by unifying
functions of Nippon Shinpan, UFJ Card and DC Card Co., Ltd. (DC
Card).
UFJ Group and MTFG, making the best of such merit of scale, are
cooperating to consider framework and form of integration in
order to develop card business strategy by card companies
affiliated to the new group.
Aspiring to gain confidence from customers, Nippon Shinpan and
UFJ Card will make effort to strengthen competitiveness and
pursue efficiency together with DC Card.
=========
K O R E A
=========
HANARO TELECOM: Details Resolution of General Meeting
-----------------------------------------------------
Hanaro Telecom disclosed in a U.S. Securities and Exchange
Commission filing, the details of the resolution on convening of
a general meeting of shareholders.
(1) Date December 16, 2004 at 10:00 a.m.
(2) Venue The auditorium on 10th fl. of Ilsan Information Center
(726, Janghang 2-dong, Ilsan-gu, Goyang-si, Gyeonggi-do)
(3) Agenda and Details Agendum 1: Amendment of the Articles of
Incorporation
- Change of the Company's corporate name Agendum 2: Approval of
granting the Stock Option Rights
- Granting to a total of 1,451 persons the stock option purchase
rights that could be exercised to acquire 19,772,890 shares
(4) Date of Board of Directors' Resolution October 29, 2004
- Outside director: 5 of 6 were present
- Audit Committee members who are not outside directors: none
Resolution of Board of Directors on Convening An Extraordinary
General Meeting of Shareholders on Granting the Stock Option
Rights
(1) Grantees A total of 1,451 persons
(2) Method of Granting
- Method of granting shall be resolved by the Company among
issue of new shares, transfer of treasury stock or the
compensation of difference at the time of exercising the rights.
(3) Exercise Period
- From December 17, 2006 to December 16, 2011
(4) Type and Number of Shares to Be Delivered
- A total of 19,772,890 registered common shares
(5) Current Status of Stock Option Rights
- Number of shares that were granted: 1,721,153 shares
- Number of shares to be granted this time: 19,772,890 shares
- Total: 21,494,043 shares
(6) Scheduled Date of the Extraordinary Shareholders' Meeting
- December 16, 2004
(7) Date of Board of Directors' Resolution: October 29, 2004
- Outside director: 5 of 6 were present
- Audit Committee members who are not outside directors: none
(8) Others
- Exercise Price: The market price evaluated in accordance with
Article 84-9 of the Securities and Exchange Act Enforcement
Decree as of the resolution date of the general meeting of
shareholders. (Par value in case such market price is below par
value.)
- Adjustment of Exercise Price: In case of capital increase,
stock dividend, conversion of reserve into capital, conversion
of convertible bonds, capital increase through the exercise of
preemptive rights, stock split or consolidation of shares, or
the occurrence of merger, the exercise price shall be adjusted
and details thereof shall be resolved by the Board of Directors.
- Exercise Period:
- Grantees shall be entitled to exercise the amount of up to 60%
of their respective stock option rights after 2 years from the
granting date and up to additional 40 percent after 3 years from
the granting date. The outside directors in office as of the
granting date are entitled to exercise 100 percent of the stock
option right after 2 years from the granting date.
- However, in the event of death, ordinary retirement, the
involuntary termination of employment contracts, reorganization,
change of control, or any other events provided for under the
stock option agreements, the Representative Director, CCO, COO,
CTO, CSO, CFO and CMO as of the granting date shall be vested
with 100 percent of their respective granted stock option rights
and be entitled to exercise the respective unexercised stock
option rights upon the occurrence of such an event to the extent
permitted by the relevant Korean laws regulations.
- The procedures for the exercise of a stock option right and
the special treatment applicable to death, ordinary retirement,
etc. shall be subject to the relevant Korean laws and
regulations, and the Company's internal regulations.
- The Representative Director shall be authorized to finalize
and execute stock option agreements in accordance with the above
and the relevant Korean laws and regulations.
CLOSING OF SHAREHOLDER REGISTER
(1) Closing Date November 15, 2004
(2) Period of Closing the Shareholder Register
- Date of Commencement November 16, 2004
- Date of Expiration November 24, 2004
(3) Reasons for Closing
- To record rightful shareholders for an Extraordinary General
Meeting of Shareholders
(4) Date of Board of Directors' Resolution October 29, 2004.
CONTACT:
Hanaro Telecom, Inc. (NASDAQ: HANA)
Shindongah Fire & Marine Insurance Bldg. 43,
Taepyeongno2-Ga, Jung-Gu
Seoul, 100-733, South Korea
Phone: +82-106
Fax: +82-2-6266-4399
Web site: http://www.hanaro.com
KOOKMIN BANK: Unveils Result of Extraordinary Meeting
-----------------------------------------------------
In a U.S. Securities and Exchange Commission filing, Kookmin
Bank advised that on October 29, 2004, the bank held its
extraordinary shareholders' meeting, and two agenda listed below
were approved and ratified by the shareholders as originally
proposed.
Agendum (1) Appointment of an Executive Director
Upon the shareholders' approval, Mr. Chung Won Kang was
appointed as the new President & CEO of Kookmin Bank, and he
will begin his term in office as of November 1, 2004.
Agendum (2) Approval of Previously Granted Stock Options by the
Board of Directors
The shareholders approved and ratified 30,000 stock option
grants in total to four directors and one executive vice
president, which had been approved by the board of directors on
March 23, 2004
Grant of Stock Options
On October 29, 2004, the board of directors of Kookmin Bank
approved and ratified granting of stock options to Mr. Chung Won
Kang who was nominated as the President & CEO of Kookmin Bank by
the board of directors and approved by extraordinary
shareholders' meeting held on October 29, 2004.
Pursuant to Article 13 of the Articles of Incorporation, the
board of directors' resolution of granting stock options is
subject to the approval and ratification at the first-coming
shareholders' meeting after the date of grant.
The purpose of the grant is to motivate the grantee toward
accomplishing business targets and responsible management, as
his performance will be indexed to the exercisable number of
options. The class of stock to be granted is Kookmin Bank's
registered common share.
(1) Grant Date: November 1, 2004
(2) Number of Stock Options: 700,000 shares
500,000 stock options: Linked to ROE of 25 percent and BIS Ratio
of 12 percent 1
The evaluation of the grantee's performance will be lined to the
business targets of ROE of 25 percent and BIS Capital Adequacy
Ratio of 12 percent, weighted 60 percent and 40 percent
respectively. Accordingly, the exercisable number of options
will be indexed to the grantee's accomplishment of the business
targets at the end of the quarter right before the exercise
period begins (i.e. at the end of third quarter in 2007). If ROE
and BIS Ratio fall below 10 percent, the stock options granted
shall not be exercisable. In the event of the grantee's early
retirement, ROE and BIS Ratio at the end of the quarter
immediately prior to the retirement shall be applied.
To view a full copy of the SEC filing, click
http://bankrupt.com/misc/KOOKMINBANK102904.doc
CONTACT:
Kookmin Bank
9-1 Namdaemoonro 2-ga
Chung-gu, Seoul 100-092
Korea (South)
Telephone: +82 2 317 2114
Telephone: +82 2 776 5637
===============
M A L A Y S I A
===============
ACTACORP HOLDINGS: Unit Faces Winding Up Proceedings
----------------------------------------------------
Actacorp Holdings Berhad announced that its wholly owned
subsidiary, Actacorp Manufacturing Services Sdn Bhd (AMS), has
been served with a winding-up petition, details of which are as
follows:
(1) Date Petition served: 29th October 2004
(2) Amount claimed: RM1,849,105.24
(3) Details of default: The claim is based on the AMS's loan
facilities with Alliance Bank Malaysia Berhad, which the Bank
has alleged default in AMS repayment of RM1,849,105.24. The
winding-up petition will be heard on 23rd December 2004.
(4) Total cost of investment in Actacorp Manufacturing Services
Sdn Bhd is RM926,682.00.
(5) The expected loss: - NIL -
(6) Operational and financial impact on the group: - NIL -
(7) Step taken: The Company will approach Alliance Bank Malaysia
Berhad to amicably resolve the matter.
CONTACT:
Actacorp Holdings Berhad
Jalan 3/76D Desa Pandan
Kuala Lumpur, Selangor 55100
Malaysia
Telephone: +60 3 9282 1388
Telephone: +60 3 9284 7133
This Bursa Malaysia Securities Berhad announcement is dated 29
October 2004.
ACTACORP HOLDINGS: Releases Litigation Update
---------------------------------------------
Further to Actacorp Holdings Berhad (AHB)'s announcement dated
19th August 2004, the Company announced that the Kuala Lumpur
High Court in a Hearing under Suit No.: D6-24-86-2003 dated 29th
October 2004 between AHB and AmMerchant Bank Berhad (AMMB), has
allowed the latter's application to set aside the Company's
Restraining Order dated 19th August 2004.
AMSTEEL CORPORATION: Schedules AGM on November 22
-------------------------------------------------
Notice is hereby given that the Twenty-Ninth Annual General
Meeting (AGM) of Amsteel Corporation Berhad will be held at the
Meeting Hall, Level 48, Menara Citibank, 165 Jalan Ampang, 50450
Kuala Lumpur on 22 November 2004 at 11:30 a.m. for the following
purposes:
AGENDA
(1) To receive and adopt the Directors' Report and Audited
Financial Statements for the financial year ended 30 June 2004.
(Resolution 1)
(2) To approve the payment of Directors' fees amounting to
RM202,000 (2003 : RM202,000). (Resolution 2)
(3) To re-elect Directors:
In accordance with Article 98 of the Company's Articles of
Association, the following Directors retire by rotation and,
being eligible, offer themselves for re-election:
Mr. Pee Kang Seng @ Lim Kang Seng (Resolution 3)
Tuan Haji Munajat bin Idris (Resolution 4)
(4) To consider and if thought fit, pass the following
resolution pursuant to Section 129(6) of the Companies Act, 1965
as an ordinary resolution:
"THAT Y. Bhg. Jen (B) Tan Sri Dato' Zain Mahmud Hashim who
retires pursuant to Section 129(2) 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." (Resolution 5)
(5) To re-appoint Auditors to hold office until the conclusion
of the next annual general meeting and to authorise the
Directors to fix their remuneration. (Resolution 6)
(6) Special Business
To consider and if thought fit, pass the following resolutions
as ordinary resolutions:
6.1 Authority to Directors to issue shares
"THAT pursuant to Section 132D of the Companies Act, 1965 and
subject to the approval of all relevant authorities being
obtained, the Directors be and are hereby empowered to issue
shares in the Company at any time and upon such terms and
conditions and for such purposes as the Directors may, in their
absolute discretion deem fit, provided that the aggregate number
of shares issued pursuant to this resolution does not exceed 10%
of the issued capital of the Company for the time being and that
such authority shall continue in force until the conclusion of
the next annual general meeting of the Company." (Resolution 7)
6.2 Proposed Renewal of Shareholders' Mandate for Recurrent
Related Party Transactions
"THAT approval be given for the Company and its subsidiary
companies to enter into the recurrent related party transactions
of a revenue or trading nature which are necessary for its day-
to-day operations as detailed in paragraph 3.3 ("Recurrent
Transactions") and with those related parties as detailed in
paragraph 3.2 of the Circular to Shareholders of the Company
dated 30 October 2004 subject to the following:
(i) The transactions are in the ordinary course of business and
are on terms not more favorable to the related parties than
those generally available to the public and are not to the
detriment of the minority shareholders of the Company; and
(ii) Disclosure is made in the annual report of the breakdown of
the aggregate value of transactions conducted pursuant to the
shareholders' mandate during the financial year, amongst others,
based on the following information:
(a) The type of Recurrent Transactions made; and
(b) The names of the related parties involved in each type of
Recurrent Transactions made and their relationship with the
Company;
AND THAT authority conferred by this Ordinary Resolution shall
continue to be in force until:
(i) The conclusion of the next annual general meeting of the
Company at which time it will lapse, unless by a resolution
passed at the meeting, the authority is renewed;
(ii) The expiration of the period within which the next annual
general meeting after that date is required to be held pursuant
to Section 143(1) of the Companies Act, 1965 (but shall not
extend to such extension as may be allowed pursuant to Section
143(2) of the Companies Act, 1965); or
(iii) Revoked or varied by resolution passed by the shareholders
in general meeting; whichever is the earlier,
AND THAT the Directors be authorized to complete and do all such
acts and things (including executing such documents as may be
required) to give effect to the transactions contemplated and/or
authorized by this Ordinary Resolution." (Resolution 8)
(7) To transact any other business for which due notice shall
have been given.
By Order of the Board
CHAN POH LAN
WONG PHOOI LIN
Secretaries
Kuala Lumpur
30 October 2004
Notes:
(1) Proxy
A member entitled to attend and vote at the Annual General
Meeting is entitled to appoint a proxy to attend and vote
instead of him. A proxy need not be a member of the Company. The
instrument appointing a proxy must be in writing under the hand
of the appointor or his attorney duly authorised in writing or,
if the appointor is a corporation, either under seal or the hand
of an officer or attorney duly authorized.
An instrument appointing a proxy executed in Malaysia need not
be witnessed. The signature to an instrument appointing a proxy
executed outside Malaysia shall be attested by a solicitor,
notary public, consul or magistrate.
The instrument of proxy shall be deposited at the Registered
Office of the Company, Level 46, Menara Citibank, 165 Jalan
Ampang, 50450 Kuala Lumpur not less than forty-eight (48) hours
before the time for holding the Meeting.
Form of Proxy sent through facsimile transmission shall not be
accepted.
(2) Resolution 7
This authorization will empower the Directors of the Company to
issue shares in the Company up to an amount not exceeding in
total 10% of the issued share capital of the Company. This
authority, unless revoked or varied at a general meeting, will
expire at the conclusion of the next annual general meeting of
the Company.
(3) Resolution 8
This approval will allow the Company and its subsidiary
companies to enter into recurrent related party transactions of
a revenue or trading nature with those related parties as set
out in paragraph 3.2 of the Circular to Shareholders dated 30
October 2004, which are necessary for the Group's day-to-day
operations and are in the ordinary course of business and on
normal commercial terms which are not more favorable to the
related party than those generally available to the public and
are not to the detriment of the minority shareholders of the
Company.
Details on the proposal are set out in the Circular to
Shareholders dated 30 October 2004.
CONTACT:
Amsteel Corporation Berhad
165 Jalan Ampang
Kuala Lumpur, 50450
MALAYSIA
Phone: +60 3 2162 2155/2161 3166
Fax: +60 3 2162 3448
AMSTEEL CORPORATION: SC OKs Restructuring Extension
---------------------------------------------------
Lion Corporation Berhad (BCB), Lion Industries Corporation
Berhad (LICB) and Amsteel Corporation Berhad (ACB) jointly
announced that following an application by LCB, LICB and ACB,
the Securities Commission has given an approval to LCB, LICB and
ACB to extend the deadline to complete the following proposals
contemplated under the GWRS (details of which are particularised
in the respective Company's Circular to Shareholders dated 9
January 2003) to 9 April 2005:
a) For LCB, the renounceable restricted offer for sale of up to
approximately 67.61 million shares in ACB by LCB to the eligible
shareholders of ACB;
b) For LICB, the corporate proposal by Amsteel Mills Sdn Bhd
(AMSB) to offer the AMSB's scheme creditors the opportunity to
tender their debts for cancellation by the AMSB's scheme
companies in consideration for shares in ACB and Lion
Diversified Holdings Berhad; and
c) For ACB, the issue of approximately 251.92 million new 4«
years warrants to shareholders of ACB.
This announcement is dated 29 October 2004.
ANCOM BERHAD: Issues Shares Buy Back Notice
-------------------------------------------
Ancom Berhad disclosed to the Bursa Malaysia Securities Berhad
the details of its shares buy back notice on October 29, 2004.
Date of buy back: 29/10/2004
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): 0.750
Maximum price paid for each share purchased (RM): 0.760
Total consideration paid (RM):
Number of shares purchased retained in treasury (units): 8,000
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date
(units): 5,208,600
Adjusted issued capital after cancellation (no. of shares)
(units):
CONTACT:
Ancom Berhad
Level 14, Uptown 1
No. 1 Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Telephone: 03-77252888
Fax: 03-77257791
Web site: http://www.ancom.com.my
AOKAM PERDANA: Implements Final Stage of Restructuring
------------------------------------------------------
Further to its announcement dated 4 October 2004 made pursuant
to Paragraph 4.1(b) of Practice Note 4/2001 (PN4) of the Bursa
Malaysia Securities Berhad, Aokam Perdana Berhad announced the
Company and its advisers are working on the final stage of the
implementation of the rescue scheme for the Group.
CONTACT:
Aokam Perdana Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 3466
Telephone: +60 3 2166 3455
ARTWRIGHT HOLDINGS: Seeks Rehab Scheme Extension
------------------------------------------------
Artwright Holdings Berhad refers to its announcement made on 7
October 2004 in relation to the proposed extension of time of up
to 28 January 2006 to comply with the conditions imposed by the
Securities Commission (SC) vided its letter dated 28 January
2002 pursuant to the proposed restructuring scheme of the
Company.
An announcement on the outcome of the appeal will be made upon
receipt of a decision from the commission.
CONTACT:
Artwright Holdings Berhad
274909-A
6th Floor
3 Cangkat Raja Chulan
50250 Kuala Lumpur, WP
Malaysia
This announcement is dated 29 October 2004.
BESCORP INDUSTRIES: Discloses Practice Note 4/2001 Update
---------------------------------------------------------
Reference is made to paragraph 4.1(b) of the Practice Note
4/2001 of the Listing Requirements of Bursa Malaysia Securities
Berhad (Bursa Securities), whereby Bescorp Industries Berhad
(Special Administrators Appointed) is required to announce the
status of its plan to regularize its financial condition on a
monthly basis until further notice from Bursa Malaysia.
On 12 October 2004, WCT Engineering Berhad, WCT Land Berhad
(WCTL), Commerce International Merchant Bankers Berhad and
AmMerchant Bank Berhad had entered into a Supplemental Agreement
to amend, modify and/or vary the Underwriting Agreement. All
other provisions of the Underwriting Agreement shall remain
effective and valid save and except where it is expressly or
impliedly amended, modified and/or varied.
Pursuant to a condition imposed by the Securities Commission
that an appropriate announcement shall be made on the findings
of the investigative audit, its auditor had on 14 October 2004
announced the findings of the investigative audit on the past
losses of BIB and its subsidiaries, which was extracted from the
Investigative Audit Report of PricewaterhouseCoopers Advisory
Services Sdn Bhd.
With regards to the implementation of the Corporate Proposals,
the Special Administrators announced that WCTL had on 25 October
2004 launched the prospectus in relation to the Offer for Sale
of 82,000,000 ordinary shares of RM0.50 each in WCTL.
There were no further developments since our previous
announcement with regards to this Practice Note.
CONTACT:
Bescorp Industries Berhad
7th Floor, Centrel Tower
Wisma Consplant, 2 Jalan SS16/4
Subang Jaya
47500 Petaling Jaya, Selangor
Malaysia
Telephone: 603-7327988
Fax: 603-7349967
BESCORP INDUSTRIES: Details Default in Debt Payments
----------------------------------------------------
As required by the Bursa Malaysia Practice Note 1/2001, Bescorp
Industries Berhad (BIB) hereby provides an update on its default
in payments.
The default by BIB as at 30 September 2004 amounted to
RM63,025,700.26 made up of a principal sum of RM32,220,139.42
plus RM30,805,560.84 in interest for revolving credit
facilities.
As at 30 September 2004, the remaining subsidiary companies of
BIB, namely Bescorp Construction Sdn Bhd (In Liquidation),
Bescorp Piling Sdn Bhd (In Liquidation), Bescorp Concrete Sdn
Bhd (In Liquidation), Bespile Sdn Bhd (In Liquidation) and Waktu
Cerah Sdn Bhd (Special Administrators Appointed), defaulted on a
total sum of RM172,618,188.71 made up of a principal sum of
RM58,780,492.90 plus RM48,225,504.50 in interest for revolving
credit facilities, term loan, banker's acceptance, hire purchase
and lease facilities, and RM65,612,191.31 for overdraft
facilities.
There were no further developments since our previous
announcement with regards to this Practice Note.
For more information, go to
http://bankrupt.com/misc/tcrap_bescorp110104.xls
BRIGHT PACKAGING: Unveils FY04 Unaudited Quarterly Report
---------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Bright
Packaging Industry Berhad released its unaudited 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
9,636 7,765 36,718 29,945
2 Profit/(loss) before tax
-615 -27,595 -3,364 -19,586
3 Profit/(loss) after tax and minority interest
-628 -27,544 -3,245 -18,970
4 Net profit/(loss) for the period
-628 -27,544 -3,245 -18,970
5 Basic earnings/(loss) per shares (sen)
-1.45 -63.63 -7.50 -43.83
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)
0.5300 0.6000
For more details, go to
http://bankrupt.com/misc/tcrap_brightpackaging110104.doc
BUKIT KATIL: Discloses September 2004 Production Figures
--------------------------------------------------------
Bukit Katil Resources Berhad announced its production figures
for the month of September 2004 in respect of the Group's
plantation production as follows:
Current Preceeding Current Preceeding Year
Month Year Corresponding Year to date Corresponding
Period
Sep 2004 Sep 2003 Sep 2004 Sep 2003
FFB (mt) 636.48 873.15 1,683.59 2,644.88
CONTACT:
Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela Pusat Bandar Damansara,
Damansara Heights, Kuala Lumpur
50490 MALAYSIA
Telephone: +60 3 2095 7077
Telephone: +60 3 2094 9940
BUKIT KATIL: Updates Loan Facilities
------------------------------------
The Board of Directors of Bukit Katil Resources Berhad (BKATIL)
wishes to update on the following loan facilities.
Bumiputra-Commerce Bank Berhad
The application by the bank to enter summary judgment against
the Company was allowed by the Learned Senior Assistant
Registrar on 16 July 2004. The Company has filed a Notice of
Appeal against the said decision to the Judge in Chamber. No
date has been set for hearing.
The Company is still in the process of seeking third party
financing to settle the loan facilities.
OCBC Bank (Malaysia) Berhad
OCBC Bank (Malaysia) Berhad has obtained an order for sale on 14
November 2003 on Omega Bricks Sdn Bhd's land held under Grant
Reg No. 31, Lot No. 5058 Mukim Gunung Semanggol, Daerah Krian,
Negeri Perak.
OCBC Bank (Malaysia) Berhad has also obtained a winding-up
petition under Section 218(2) of the Companies Act, 1965 on 6
October 2003 and was served on the Company on 14 November 2003.
The High Court on 8 September 2004 allowed the bank's
application for the winding-up petition. The winding-up shall
only be effective once the High Court approves the draft copy of
the order to be filed by OCBC Bank (Malaysia) Berhad's lawyers.
The Company has already filed a Notice of Appeal to the Court of
Appeal against the decision of the High Court and the Court of
Appeal has informed that a date to hear the said appeal would be
given before the end of 4 November 2004. A stay of execution of
the winding-up order was filed on 5 October 2004.
The Company is still in the process of seeking alternative
financing from other financial institutions for the repayment of
the defaulted sums.
Alliance Merchant Bank Berhad
Hearing has been further adjourned to 30 November 2004 to
consider the Bank's application for summary judgement as well as
the Company's counterclaim.
The Company is still actively negotiating with other financial
institutions to refinance the outstanding sums.
Perbadanan Kemajuan Negeri Pahang
The Company is a defendant in suit being initiated by Perbadanan
Kemajuan Negeri Pahang for breach of a Call Option Contract. On
19 April 2004, a final judgment was granted by the High Court
for RM14.0 million against the Company, inclusive of interest
until the date of full settlement. The Company is appealing
against the said judgment, which is to be heard on 18 November
2004.
The Board of Directors of BKATIL would like to further provide
an update on the details of all facilities currently in default
in compliance with Section 3.1 of Practice Note 1/2001.
For more details, go to
http://bankrupt.com/misc/tcrap_bukit110104.doc
CONSOLIDATED FARMS: Unable to Pay Additional Principal, Interest
----------------------------------------------------------------
Consolidated Farms Berhad (Confarm) announced that it is unable
to pay the additional principal and/or interest in respect of
its credit facilities as set out in Table 1.
The Company and its financial advisors, Deloitte Corporate
Solutions Sdn Bhd (formerly known as Deloitte KassimChan
Business Services Sdn Bhd), have met with the respective lenders
to apprise them on Confarm Group's current financial condition
and have sought their indulgence and consideration to provide a
standstill period in respect of the Group's credit facilities
for it to carry out a financial review and, if appropriate,
formulate a restructuring/workout scheme.
Table 1
Lender Borrower Additional Amount Type of
Facilities
Due from 23 Oct 2004
to October 2004 (RM'000)
Bumiputra- Consolidated 69.0 Term Loan
Commerce Bank Feedmill Sdn
Bhd Bhd
Total 69.0
Note: The above figures are based on the Company's records and
exclude any penalty interest that may be charged by the
respective lenders.
CONTACT:
Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299
This announcement is dated 29 October 2004.
EKRAN BERHAD: Releases Default Status Update
--------------------------------------------
Ekran Berhad issued a status report in respect to the Practice
Note 1/2002 of the Listing Requirements of the Bursa Malaysia
Securities Berhad.
For more information, go to
http://bankrupt.com/misc/tcrap_ekran110104.doc
CONTACT:
Ekran Berhad
Jalan Parlimen
Kuala Lumpur, SARAWAK 50480
MALAYSIA
+60 82 236908
+60 82 236922
=====================
P H I L I P P I N E S
=====================
NATIONAL POWER: November Bills To Bear New Generation Rates
-----------------------------------------------------------
The recent increase in the rate of the National Power
Corporation (Napocor), which was approved last September, will
take effect in the bills of its customers in November, reports
the Philippine star.
The Manila Electric Co. (Meralco) Vice President For Corporate
Communications assured its customers that they would not feel
the full impact of the Php1.23 per kWh increase in the Luzon
grid.
Aside from Napocor, Meralco sources its power supply from other
independent power producers (IPPs).
At present, Meralco gets about 50 to 60 percent of its power
supply requirement from its IPPs namely: Quezon Power
Philippines Ltd., Duracom Power, First Gas Power Corp.'s Sta.
Rita and San Lorenzo natural gas-fired power plants.
The electricity rates will vary from each grid. For Luzon, 48
percent or Php1.23 per kWh; Visayas by 7.8 percent or 22.02
centavos; Mindanao by 15 percent or 26.65 centavos.
At present, the existing rates of Napocor for the entire
Philippines is Php2.44 per kWh; Luzon Php2.5736; Visayas,
Php2.8172; and Mindanao Php1.8032.
CONTACT:
National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax: +63-2921-2468
NATIONAL POWER: IFC Offers Financing For Napocor Assets
-------------------------------------------------------
The International Finance Corporation (IFC) said they could
offer financing needs for the privatized assets of the National
Power Corporation and its green-field power projects to meet
future power demand of the Philippines, according to the Manila
Bulletin.
IFC Executive Vice President and Concurrent World Bank Managing
Director Peter L. Woicke said the loan maturity that power
sector investors could avail of from IFC could range from 15 to
23 years as compared to the shorter terms of commercial loans,
which are normally just from 8 to 10 years.
"We usually provide long-term financing.but of course, this is
in consideration of the fiscal deficit limitations in this
country," Mr. Woicke said.
About IFC
The International Finance Corporation (IFC) is a member of the
World Bank Group and is headquartered in Washington, DC. It
shares the primary objective of all World Bank Group
institutions: to improve the quality of the lives of people in
its developing member countries.
Established in 1956, IFC is the largest multilateral source of
loan and equity financing for private sector projects in the
developing world. It promotes sustainable private sector
development primarily by financing private sector projects
located in the developing world, helping private companies in
the developing world mobilize financing in international
financial markets and providing advice and technical assistance
to businesses and governments.
CONTACT:
The International Finance Corporation (IFC)
Mr. Vipul Bhaghat
Country Manager
11th Floor, Tower One
Ayala Triangle, Ayala Avenue
Makati City, 1226
Philippines
Tel: (63-2) 848-7333/38
Fax: (63-2) 848-7339
PHILIPPINE BANK: Appoints Corpus as Acting President
----------------------------------------------------
The Philippine Bank of Communications (PBCom) has appointed its
Executive Vice President Angel Corpus as acting President and
Chief Executive Officer effective November 1, 2004, Dow Jones
reports.
The bank has yet to appoint a permanent replacement for Mr.
Isidro Alcantara who resigned as President on October 31.
Loss-making PBCom secured early this year a Php7.64 billion
financial assistance deal from state-run Philippine Deposit
Insurance Corporation (PDIC), the TCR-AP reported recently.
After incurring a net loss of PhP200.72 million during the first
quarter, the bank swung to profit with PhP9.7 million in the
succeeding quarter due to higher interest income on investments.
CONTACT:
Philippine Bank of Communications
PBCom Tower, 6795 Ayala Ave. Cor. Herrera St., 1226 Makati City
Tel. No: 830-7000 (TL)
Fax No: 818-2576 (Telefax)
E-mail Address: info@pbcom.com.ph
Web site: http://www.pbcom.com.ph
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Securities Transfer Services, Inc.
=================
S I N G A P O R E
=================
D.S.E ENTERPRISE: Posts Dividend Notice
---------------------------------------
D.S.E Enterprise Pte Ltd, in liquidation, has issued a dividend
notice.
Address of Registered Office: c/o The Liquidator's Office.
Court: High Court of Singapore.
No. of Matter : No. 600025 of 2001.
Last Day for Receiving Proofs: 18th November 2004.
Name of Liquidator: Robert Yam Mow Lam.
Address of Liquidator: c/o 190 Middle Road
#16-03 Fortune Centre
Singapore 188979.
This Singapore Government Gazette notice is dated October 29,
2004.
INFORMATICS HOLDINGS: Declares Change in Shareholder's Interest
---------------------------------------------------------------
Informatics Holdings Ltd on October 29 released a notice at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of Cheah Hon Kuen's Interest.
Part I
(1) Date of notice to issuer: October 29, 2004
(2) Name of Substantial Shareholder: Cheah Hon Kuen
(3) Please tick one or more appropriate box(es):
x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)
Part II
(1) Date of change of interest:
(2) Name of Registered Holder:
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change:
As a percentage of issued share capital:
No. of shares which are the subject of this notice:
As a percentage of issued share capital:
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:
No. of shares held after the change:
As a percentage of issued share capital:
Part III
(1) Date of change of interest: October 28,2004
(2) The change in the percentage level: From 9.83% to 9.57%
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
It's a result from the sale of:
(i) 808,000 shares at SG$0.35 each on October 27, 2004
(ii) 245,000 shares at SG$0.36 each on October 28, 2004
Part IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
Direct Deemed
No. of shares held before change: 38,548,616
% of issued share capital: 9.83
No. of shares held after change: 37,495,616
% of issued share capital: 9.57
Mr. Cheah Hon Kuen holds 7,374,523 warrants and out of this
total warrants, he sold 542,000 warrants at S$0.20 in the open
market on October 27, 2004
Submitted by:
Raymond Quek Hiong How
Company Secretary
MBIA SINGAPORE: Creditors to Prove Debts by November 29
-------------------------------------------------------
Notice is hereby given that the creditors of MBIA Singapore Pte
Ltd, which is being wound up voluntarily, are required on or
before the 29th day of November 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned, the liquidators of the said Company.
If so required by notice in writing by the said liquidators,
they are to come in personally or by their solicitors and prove
their debts or claims at such time and place as shall be
specified in such notice.
In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.
Bob Yap Cheng Ghee
Neo Ban Chuan
Liquidators
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581
This Singapore Government Gazette notice is dated October 29,
2004.
NATSTEEL EQUITY: Creditors Must Submit Claims by November 29
------------------------------------------------------------
Notice is hereby given that the creditors of Natsteel Equity V
Pte Ltd, which is being wound up voluntarily are required on or
before the 29th day of November 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned the Liquidators of the said Company.
If so required by notice in writing by the said liquidators,
they are to come in personally or by their solicitors and prove
their debts or claims at such time and place as shall be
specified in such notice.
In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.
Chee Yoh Chuang
Lim Lee Meng
Liquidators
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423
This Singapore Government Gazette notice is dated October 29,
2004
PANPAC MEDIA: Notes Change in Shareholding
------------------------------------------
Panpac Media Group Limited on October 29 released a notice at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Bruno Zheng Wu's Interest.
Part I
(1) Date of notice to issuer: October 29, 2004
(2) Name of Director/Substantial Shareholder: Bruno Zheng Wu
(3) Please tick one or more appropriate box(es):
x a Director's (including a director who is a substantial
shareholder) Interest and Change in Interest. (Please complete
Parts II and IV)
Part II
(1) Date of change of interest: October 29, 2004
(2) Name of Registered Holder: Sun Media Investment Holdings
Limited
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Consideration Pursuant To Sales And
Purchase Agreement Dated 21 May 2004
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change: 49,600,000
As a percentage of issued share capital: 10.11
No. of shares which are the subject of this notice: 44,000,000
As a percentage of issued share capital: 8.22
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: SG$0.145
No. of shares held after the change: 93,600,000
As a percentage of issued share capital: 17.5
Part III
(1) Date of change of interest:
(2) The change in the percentage level: From % to %
(3) Circumstance(s) giving rise to the interest or change in
interest:
4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
Part IV
(1) Holdings of Director/Substantial Shareholder, including
direct and deemed interest:
Direct Deemed
No. of shares held before change: 49,600,000
% of issued share capital: 10.11
No. of shares held after change: 93,600,000
% of issued share capital: 17.5
Notes:
The percentage of number of shares in the issued share capital
held before the change is computed based on the issued share
capital of 490,768,618 shares.
The percentage of number of shares in the issued share capital
held after the change is computed based on the issued share
capital of 534,768,618 shares.
Submitted by:
Ng Hwee Ling
Chief Financial Officer
PANPAC MEDIA: Shareholder's Interest Changes
--------------------------------------------
Panpac Media Group Limited on October 29 released a notice at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Yang Lan's Interest.
Part I
(1) Date of notice to issuer: October 29, 2004
(2) Name of Director/Substantial Shareholder: Yang Lan
(3) Please tick one or more appropriate box(es):
x a Director's (including a director who is a substantial
shareholder) Interest and Change in Interest. (Please complete
Parts II and IV)
Part II
(1) Date of change of interest: October 29, 2004
(2) Name of Registered Holder: Sun Media Investment Holdings
Limited
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Consideration Pursuant To Sales And
Purchase Agreement Dated 21 May 2004
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change: 49,600,000
As a percentage of issued share capital: 10.11
No. of shares which are the subject of this notice: 44,000,000
As a percentage of issued share capital: 8.22
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: SG$0.145
No. of shares held after the change: 93,600,000
As a percentage of issued share capital: 17.5
Part III
(1) Date of change of interest:
(2) The change in the percentage level: From % to %
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
Part IV
(1) Holdings of Director/Substantial Shareholder, including
direct and deemed interest:
Direct Deemed
No. of shares held before change: 49,600,000
% of issued share capital: 10.11
No. of shares held after change: 93,600,000
% of issued share capital: 17.5
Notes:
The percentage of number of shares in the issued share capital
held before the change is computed based on the issued share
capital of 490,768,618 shares.
The percentage of number of shares in the issued share capital
held after the change is computed based on the issued share
capital of 534,768,618 shares.
Submitted by:
Ng Hwee Ling
Chief Financial Officer
SECOND HOLDINGS: Issues Dividend Notice
---------------------------------------
Second Holdings (S) Pte Ltd, in creditors' voluntary
liquidation, has issued a dividend notice.
Address of former Registered Office: 8 Aljunied Avenue 3
Oakwell Building Singapore 389933.
Last day of receiving proofs: 9 November 2004
Name of Liquidator: Koh Cher Chow
Address of liquidator: c/o C C Koh & Co
15 West Coast Highway
#03-19 Pasir Panjang Building
Singapore 117861
Koh Cher Chow
Liquidator
This Singapore Government Gazette notice is dated October 29,
2004.
STEENSTED PRIVATE: To Hold Final Meeting on November 29
-------------------------------------------------------
Notice is hereby given pursuant to Section 308 of the Companies
Act, Cap. 50, that a Final Meeting of the Members of Steensted
Private Limited will be held at 1 Scotts Road, #21-07/08/09 Shaw
Centre, Singapore 228208 on the 29th of November 2004 at 10:00
a.m. for the purposes as stated in section 308 of the Companies
Act, Cap. 50.
Dated this 29th day of October 2004.
Madam Chia Lay Beng
Madam Goh Wei Ling
Liquidators
Note: A member entitled to attend and vote at the General
Meeting is entitled to appoint a Proxy to attend and vote on his
behalf and such Proxy need not be a member of the Company. The
Form of Proxy must be deposited at the Liquidators' Office not
less than 48 hours before the time appointed for holding the
Meeting or adjourned Meeting.
This Singapore Government Gazette notice is dated October 29,
2004.
WEE POH: Declares Adjournment Of AGM
------------------------------------
The Board of Directors of Wee Poh Holding Limited announced that
its Ninth Annual General Meeting held on 29 October 20004, 10 am
at Carlton Hotel, Empress Room, Level 2, 76 Bras Basah Road,
Singapore 189558 was adjourned by the Chairman of the Board
acting as Chairman of the AGM, shortly after the AGM was called
into order.
None of the business that was scheduled to be conducted at the
AGM was carried out before the adjournment.
As related by the Chairman at the AGM before the adjournment, on
the night of 28 October 2004 during a routine pre-AGM audit and
inspection of shareholders' proxy forms, the Company Secretary
and Deloitte & Touche, Company's auditors, discovered a proxy
form representing some twenty million shares that contains what
appears to be purposeful irregularities. The Company has filed a
police report concerning the irregularities.
In light of this discovery, the Chairman has adjourned the AGM
pending a systematic examination of all proxy forms received to
ensure their correctness and legality. The Board will give
notice of the date, time and place when the AGM will be
reconvened as soon as the irregularities discovered are fully
investigated and the legality of the proxy forms received by the
Company is verified.
By order of the Board
29 October 2004
Submitted by:
Chan Wang Kin
Managing Director
===============
T H A I L A N D
===============
KRUNG THAI: Picks Apisak Tantivorawong as New President
-------------------------------------------------------
Apisak Tantivorawong has been chosen as Krung Thai Bank Public
Company Limited's new president, according to Reuters.
The official appointment of Mr. Apisak would be in two weeks
time, Somkiat Sangsurane, the bank's Secretary to the board of
directors said.
"Mr. Apisak is qualified for the job, and we don't need to have
asked the central bank to reconsider this," Mr. Somkiat said.
Apisak, 50, is a University of Tennessee graduate and is the
head of state-owned Siam City Bank.
Mr. Apisak was appointed as Krung Thai's new president after the
central bank blocked the reappointment of Viroj Nualkhair, the
bank's incumbent president saying he was not qualified.
During Mr. Viroj's term Krung Thai's non-performing loans in the
quarter to June jumped to more than $1 billion, urging the
central bank to disqualify him for a second term.
CONTACT:
Krung Thai Bank Public Company Limited
35 Sukhumvit Road, Khlong Toei Nua, Wattana Bangkok
Telephone: 0-2255-2222
Fax: 0-2255-9391-6
Website: www.ktb.co.th
THAI PETROCHEMICAL: Court's Decision Likely to be Delayed
---------------------------------------------------------
A decision on Thai Petrochemical Industry Public Company
Limited's revised restructuring plan will unlikely reach the
target date, reports Business Day, citing Thanong Bidaya, a
member of the plan administrator team.
Mr. Thanong believes that those who oppose the plan would submit
their objection letter to the court, thus the investigation of
the case's related facts would delay the court's ruling on the
revised plan.
"If it does happen, we (TPI's plan administrator team) will have
to provide an explanation on the disputed case to the court,"
Mr. Thanong told reporters.
Since the plan's timeframe is due to expire on December 31, Mr.
Thanong prefers the plan to be finalized by the end of this
year. Mr. Thanong added that TPI's plan, already approved by
the firm's creditors, also covers the extension of its
completion timeframe by another year to the end of 2005.
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
TUNTEX THAILAND: Releases 2Q Review of Financial Report
-------------------------------------------------------
Tuntex (Thailand) Public Company Limited disclosed to the Stock
Exchange of Thailand (SET) the 2nd quarter review of its
financial report as of 30 June 2004. The Company also advised
the SET on the consolidated income statement report, the net
profit and loss:
For the three-month period ended 30 June 2004, the Company
posted a net loss of THB528.59 million, over loss of THB333.15
million compared to that of the same period last year which
reported a net gain of THB195.44 million. The reason of the
increase in net loss can be summarized as:
Operating loss of the Company: THB661.00 million
Share of profit from subsidiary and related companies: THB132.41
million.
This can further be elaborated as:
Million (THB)
- Increase in gross profit: 8.89
- Increase in selling and administrative expenses: (62.88)
- Increase in share of profit from investment in associated
companies
Under equity method: 63,03
- Increase in loss on diminution in value of other long-term
investment: (21.22)
- Increase in other income and interest income: 2.34
- Decrease in difference gain on exchange: (326.85)
- Decrease in interest expenses: 3.54
Total over loss: (333.15)
Sincerely yours,
Mr.Yang, Jin Tuu
Director
CONTACT:
Tuntex (Thailand) Pcl
Bb Building, Floor 20,
54 Sukhumvit 21 Road,
(Asoke) Klongtoey Nua,
Wattana Bangkok
Telephone: 0-2260-8020-41
Fax: 0-2260-8055
Web site: www.tuntexthailand.com
TUNTEX THAILAND: Details Results of Operations
----------------------------------------------
Tuntex Thailand Public Company Limited issued to the Stock
Exchange of Thailand the analysis of the Company's financial
condition and results of operations.
(1) TTC's financial performance for the six-month periods ended
June 30, 2004 compared with that of the same period last year
can be analyzed as:
(1.1) Sales Revenue
Sales revenue for the six-month periods ended Jun 30, 2004
increased 26 percent or THB959 million from the same period of
2003 due to the increase in price of the products as well as
sales volume.
(1.2) Profit Margin
Gross profit margin for the first six-month of 2004 rose by 182
percent or THB40 million from the same period last year due to
an increase in polyester prices, attributed from the rise in
major raw material prices.
(1.3) Net Profit Margin
At the end of June 30, 2004, the Company reported net loss of
THB722.21 million, which comprised of THB1,069.04 loss from
operations and THB346.83 million gain from subsidiaries and
associates. When compared with the loss of the same period of
last year, net loss increased by 5 percent or THB33.27 million,
which was mainly as a result of the Company's financial
restructuring expense and the loss in exchange rate.
(2) Financial conditions as of June 30, 2004 as compared with
that of December 31, 2003
(2.1) Total assets as of June 30, 2004 rose 4 percent or
THB599.56 million from that of December 31, 2003 due to an
increase in current assets, especially in the account
receivable, inventory and refundable tax items, which can be
related to an increase in sales volume, raw material prices and
export volume respectively.
(2.2) Total debts as of June 30, 2004 increased 7.78 percent or
THB1.385.24 million from that of December 31, 2003 due to an
increase in short-term loans, trade credits, and accrued
interest expense, attributable to an increase in short-term loan
from a bank obtained early in the year, an increase in raw
material price and volume, and an automatic suspension of loan
interest payable during restructuring process.
(2.3) Equities as of June 30, 2004 decreased 40.9 percent or
THB825.67 million from that of December 31, 2003 mainly as a
result of operation loss and a loss in foreign exchange.
(2.4) Financial Ratio
Comparison of financial ratio between June 30, 2004 and December
31, 2003:
Jun30/04 Dec31/03
Note
Current Ratio 0.27 0.25
Increase in current assets as 2.1
Return on Assets (4.42%) (4.37%)
Increase in operation loss
Debt to Equity Ratio (6.74%) (8.82%)
Decrease in R/E
* BOND PRICING: For the Week 01 November to 05 November 2004
------------------------------------------------------------
Issuer Coupon Maturity Price
------ ------ -------- -----
AUSTRALIA
---------
Advantage Group 10.000% 4/15/06 1
Amcom Telecommunications Ltd 10.000% 10/28/07 2
Amity Oil Ltd. 10.000% 10/31/13 2
APN News & Media Ltd 7.250% 10/31/08 5
A&R Whitcoulls Group 9.500% 12/15/10 9
BIL Finance Ltd 8.000% 10/15/07 9
BIL Finance Ltd 8.750% 10/15/05 9
BIL Finance Ltd 9.250% 10/15/06 9
Capital Properties NZ Ltd 8.500% 4/15/05 8
Capital Properties NZ Ltd 8.500% 4/15/07 8
Capital Properties NZ Ltd 8.500% 4/15/09 9
Citigold Corp. 12.000% 3/29/07 1
Consolidated Minerals Ltd 11.250% 3/31/05 2
Djerriwarrh Investments Ltd 6.500% 9/30/09 4
Evans & Tate Ltd 8.250% 10/29/07 1
Fletcher Building Ltd 7.900% 10/31/06 8
Fletcher Building Ltd 8.300% 10/31/06 8
Fletcher Building Ltd 8.600% 3/15/08 8
Fletcher Building Ltd 8.750% 3/15/06 8
Fletcher Building Ltd 8.850% 3/15/10 8
Fletcher Building Ltd 10.500% 4/30/05 8
Fernz Corp Ltd 8.560% 10/15/06 8
Futuris Corporation Ltd 7.000% 12/31/07 2
Gympie Gold Ltd. 8.500% 9/30/07 1
Hy-Fi Securities Ltd 7.000% 8/15/08 8
Hy-Fi Securities Ltd 8.750% 8/15/08 12
Hutchison Telecoms Australia 5.500% 7/12/07 1
Infrastructure and Utility 8.500% 9/15/13 8
NPT Capital Ltd 9.500% 11/30/04 9
Nuplex Industries Ltd 9.300% 9/15/07 8
Nylex NZ 9.500% 10/31/04 61
Powerco Ltd 8.150% 9/1/07 8
Powerco Ltd 8.400% 5/22/07 9
Richmond Ltd 10.750% 12/15/04 10
Salomon Smith Barney Australia 4.250% 2/1/09 9
Sapphire Securities 7.410% 9/20/35 7
Sapphire Securities 9.160% 9/20/35 9
Sherlock Bay Nickel 12.000% 9/1/07 1
Sky Network Television Ltd 9.300% 10/29/49 8
Software of Excellence 7.000% 8/09/07 2
Strathfield Group 11.000% 12/31/05 1
Structural Systems Ltd 11.000% 6/30/07 1
Sydney Gas Company 12.000% 4/1/06 1
Tower Finance Ltd 8.650% 10/15/09 8
Tower Finance Ltd 8.750% 10/15/07 8
TrustPower Ltd 8.300% 9/15/07 8
TrustPower Ltd 8.500% 9/15/12 8
TrustPower Ltd 8.500% 3/15/14 8
Urbus Properties Ltd 9.250% 3/10/07 1
Vision Systems Ltd 9.000% 12/15/08 2
CHINA
-----
China Government Bond 2.600% 9/20/17 74
China Government Bond 2.900% 5/24/32 62
China Government Bond 3.400% 4/17/23 74
KOREA
-----
Korea Electric Power Corporation 7.950% 4/1/96 72
MALAYSIA
--------
Asian Pac Holdings Bhd 4.000% 12/22/05 1
Artwright Holdings Bhd 5.500% 3/05/07 1
Berjaya Group Bhd 5.000% 10/17/09 1
Berjaya Land Bhd 5.000% 12/30/09 1
Berjaya Sports Toto Bhd 8.000% 8/04/12 4
Camerlin Group Bhd 5.500% 7/15/07 1
Crescendo Corporation Bhd 3.000% 8/25/07 1
Crest Builder 3.000% 2/25/06 2
Dataprep Holdings Bhd 4.000% 8/5/05 1
Dataprep Holdings Bhd 4.000% 8/6/07 1
Eden Enterprises (M) Bhd 2.500% 12/2/07 1
Equine Capital Berhad 3.000% 8/26/08 2
Fountain View Development Sdn Bhd 3.500% 11/3/06 5
Furqan Business Organization 2.000% 12/19/05 1
Gadang Holdings Bhd 2.000% 12/24/08 2
Grand Central Enterprises Bhd 5.000% 2/17/05 1
Greatpac Holdings Bhd 2.000% 12/11/08 1
Gula Perak Bhd 6.000% 4/23/08 1
Hong Leong Industries Bhd 4.000% 6/28/07 1
I-Bhd 5.000% 4/30/07 1
Insas Bhd 8.000% 4/19/09 1
Integrax Bhd 3.000% 12/24/05 1
Killinghall Bhd 5.000% 4/13/09 1
Kretam Holdings Bhd 1.000% 8/10/10 1
Kumpulan Emas Bhd 7.000% 11/15/04 1
Kumpulan Jetson 5.000% 11/28/12 1
LBS Bina Group Bhd 4.000% 12/31/06 1
LBS Bina Group Bhd 4.000% 12/31/07 1
LBS Bina Group Bhd 4.000% 12/31/08 1
Lebar Daun Bhd 2.000% 1/6/07 4
Lion Diversified Holdings Bhd 2.000% 6/1/09 1
Media Prima Bhd 2.000% 7/18/08 1
Mithril Bhd 3.000% 4/5/12 1
Mithril Bhd 8.000% 4/5/09 1
Mutiara Goodyear Development Bhd 2.500% 1/15/07 1
Naim Indah Corporation 0.500% 8/24/06 1
NAM Fatt Corporation Bhd 2.000% 6/24/11 1
Orlando Holdings Bhd 3.000% 3/16/05 1
OSK Holdings Bhd 3.500% 3/1/05 1
OSK Holdings Bhd 6.000% 3/1/05 1
Patimas Computer Bhd 6.000% 2/19/06 1
Poh Kong Holdings 3.000% 1/20/07 1
Prinsiptek Corporation Bhd 2.000% 11/20/06 1
Puncak Niaga Holdings Bhd 2.500% 11/20/16 1
POS Malaysia & Services Holdings Bhd 8.000% 11/26/04 1
Rashid Hussain Bhd 0.500% 12/23/12 1
Rashid Hussain Bhd 3.000% 12/23/12 1
Rhythm Consolidated Bhd 5.000% 12/17/08 1
Silver Bird Group Bhd 1.000% 2/15/09 1
Southern Steel Bhd 5.500% 7/31/08 2
Tanah Emas Corporation Bhd 2.000% 12/9/06 1
Talam Corporation Bhd 7.000% 7/19/05 1
Talam Corporation Bhd 7.000% 4/19/06 1
Tap Resources Bhd 2.000% 6/29/06 1
Tenaga Nasional Bhd 3.050% 5/10/09 1
Time Engineering Bhd 2.000% 12/25/05 1
VTI Vintage Bhd 4.000% 8/22/06 1
Wah Seong Corp 3.000% 5/21/12 3
Yu Neh Huat Bhd 3.000% 9/2/08 1
SINGAPORE
---------
CSC Holdings Ltd 6.500% 4/27/05 1
Rabobank Singapore 1.000% 1/15/13 74
Sengkang Mall 8.000% 11/20/12 1
Tampines Assets Ltd 5.625% 12/7/06 1
Tampines Assets Ltd 6.000% 12/7/06 1
Tincel Ltd 7.400% 6/13/11 1
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey
Resnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan, Reiza
Dejito, Peachy Clare Arreglo, Editors.
Copyright 2004. All rights reserved. ISSN: 1520-9482.
This material is copyrighted and any commercial use, resale or
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*** End of Transmission ***