/raid1/www/Hosts/bankrupt/TCRAP_Public/041123.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 23, 2004, Vol. 7, No. 232
Headlines
A U S T R A L I A
APOLLO MANAGEMENT: To Undergo Voluntary Winding Up
ARISTOCRAT LEISURE: Sets Special General Meeting on December 21
AUSTRALASIAN TILING: Appoints Paul Vartelas as Liquidator
ELECTROTECH SYSTEMS: Members Resolve to Wind Up Voluntarily
EXCITE BEVERAGES: To Voluntarily Wind Up
GLEASON CONSTRUCTION: To Declare First Dividend on December 10
GRIBBLES GROUP: Healthscope Now Holds Majority Stake
HOJJ PTY: Sets December 13 as Date for Dividend Declaration
JAICAM PTY: Names A.S.R. Hewitt as Liquidator
JAMES HARDIE: First-half Net Profit Falls
JAMES HARDIE: Faces Delisting from Ethical Index
JENJAY PTY: To Undergo Winding Up Process
K HOMES: To Declare Priority Dividend on December 7
MAYNE GROUP: Launches Paclitaxel in Spain
PRO SPORT: Winds Up Voluntarily
ROMVAL PTY: To Declare Final Dividend on December 9
SARNEN PTY: Members Resolve to Voluntarily Wind Up
TREKER PTY: To Declare Dividend on November 24
TVARKOVSKI PTY: Supreme Court Issues Winding Up Order
VICTORIAN SNOW: To Wind Up Voluntarily
* ASIC Bans Failed Furniture and Electrical Retailer
C H I N A & H O N G K O N G
CHINA CITY: Notes Unusual Price, Volume Movements
CHINA CITY: Revises Board Meeting Date
CROWN EQUIPMENT: Creditors to Prove Debts by December 19
KWONG SUN: To Receive Proofs of Claims Until November 26
NOVEL BUILDING: Court to Hear Bankruptcy Petition on December 8
STAR WORLD: Court Appoints Joint and Several Liquidators
YAU FUNG: Sets Creditors Meeting on December 17
I N D O N E S I A
ASIA PULP: Creditors Launch New Attack on Units' Restructuring
INDOFOOD SUKSES: Unit To Export More Wheat Flour in 2005
* Government Mulls Sale of Unprofitable SOEs
J A P A N
ALL NIPPON: To Begin E-ticketing Services with United Airlines
DAIKYO INCORPORATED: To Sell US$2.9-Bln Worth of Assets
IHARA K.K.: Enters Bankruptcy
MITSUBISHI MOTORS: Undergoes Assets Reevaluation
SOFTBANK CORPORATION: Proposes to Lease Hawks' Home Stadium
TOSHIBA CORPORATION: Reinforces Residential Fuel Cell Venture
K O R E A
* Number of Corporate Bankruptcies Rose by 93
M A L A Y S I A
ANCOM BERHAD: Issues Notice of Shares Buy Back
BERJAYA GROUP: Unveils Disposal of Shares, Warrants
CME GROUP: Agrees to Rescind Conditional Sale, Purchase Deal
CONSOLIDATED FARMS: Subjects Securities to Trade Restriction
DATAPREP HOLDINGS: Appoints New Audit Committee Member
EKSONS CORPORATION: Shuts Down Garment Operations
FCW HOLDINGS: AGM Set For December 14
GADANG HOLDINGS: Unveils Shares Option Scheme
GOLDEN FRONTIER: Purchases 1,000 Ordinary Shares On Buy Back
GULA PERAK: Lists Additional Shares
HOTLINE FURNITURE: Auditor Completes Investigative Audit
MBF HOLDINGS: Releases Litigation Update
METROPLEX BERHAD: Unit Faces Winding Up Proceedings
POS MALAYSIA: Issues Notice of Resale
RASHID HUSSAIN: Unveils FY04 Unaudited Quarterly Results
P H I L I P P I N E S
DIGITAL TELECOMMUNICATIONS: Clarifies Subscriber Report
MANILA ELECTRIC: US$228-Mln Refinancing Deal Boosts Napocor Bid
MONDRAGON LEISURE: Asks Court To Rule On Mimosa Asset Sale
NATIONAL POWER: Energy Sales Up 4.5% in Third Quarter
S I N G A P O R E
CAPITALAND LIMITED: Notes Change in Shareholder's Interest
DATACRAFT ASIA: Posts Executive's Info
ECOWISE HOLDINGS: Appoints Executive Director
I-ENABLE HOLDINGS: Winding Up Hearing Set November 26
T H A I L A N D
BANGKOK RUBBER: SET Suspends Trading of Securities
CENTRAL PAPER: Request for Postponement of Meeting Approved
NAKORNTHAI STRIP: Unveils Reviewed, Consolidated 3Q FS
PRASIT PATANA: Issues Report on Subsidiaries' Performance
SIAM AGRO: Names Authorize Director
* BOND PRICING: For the Week 22 November to 26 November 2004
- - - - - - - -
=================
A U S T R A L I A
=================
APOLLO MANAGEMENT: To Undergo Voluntary Winding Up
--------------------------------------------------
Notice is hereby given that a General Meeting of Members of
Apollo Management Pty Ltd (In Voluntary Liquidation) A.C.N. 005
724 194 was held on 22 September 2004, at which a Special
Resolution was passed that the Company be wound up voluntarily
and that Bruce Neil Mulvaney of Bruce Mulvaney & Co, 1st Floor,
613 Canterbury Road, Surrey Hills, Victoria, 3127 be appointed
Liquidator for such winding up.
Dated this 11th day of October 2004
Bruce N. Mulvaney
Liquidator
Bruce Mulvaney & Co
1st Floor, 613 Canterbury Road,
Surrey Hills Vic 3127
ARISTOCRAT LEISURE: Sets Special General Meeting on December 21
---------------------------------------------------------------
Notice is given that a Special General Meeting of the Members of
the Aristocrat Leisure Limited will be held at the time and
location, and to conduct the business, specified below.
Date: Tuesday, December 21, 2004
Time: 10:00 a.m.
Location: Ballroom 1, Star City
80 Paramount Stree, Pyrmont NSW 2009
Business
(1) Approval of Participation by Mr. Paul Oneile in the Long
Term Performance Share Plan (PSP)
(2) To consider, and if thought fit, pass the following
resolution as an ordinary resolution.
Resolution
"That Mr. Paul Oneile, Managing Director and CEO, be allocated
380,000 performance share rights pursuant to Aristocrat's Long
Term Performance Share Plan in the manner set out in the
Explanatory Statement to this Notice of Meeting and that this be
approved for all purposes, including for the purpose of ASX
Listing Rule 10.14"
To view a full copy of the notice, click
http://bankrupt.com/misc/ARISTOCRATLEISURE111904.pdf
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
AUSTRALASIAN TILING: Appoints Paul Vartelas as Liquidator
---------------------------------------------------------
Notice is hereby given that at a Meeting of Members of
Australasian Tiling Pty Ltd (In Liquidation) A.C.N. 092 665 300
held on 5th October, 2004, it was resolved that the Company be
wound up voluntarily.
At a Meeting of the Creditors held on the same day pursuant to
Section 497, it was resolved that for such purpose, Paul
Vartelas, of B.K. Taylor & Co., 8th Floor, 608 St Kilda Road,
Melbourne be appointed Liquidator.
Dated this 5th day of October 2004
Paul Vartelas
ELECTROTECH SYSTEMS: Members Resolve to Wind Up Voluntarily
-----------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Electrotech Systems & Control Pty. Ltd. (In Liquidation) A.C.N.
084 880 286 held on the 5th day of October, 2004 it was resolved
that the Company be wound up voluntarily and that for such
purpose Dennis Michael Foley, Certified Practising Accountant,
of 3rd Floor, Lydiard House, 17 Lydiard Street North, Ballarat,
3350 be appointed Liquidator.
Dated this 5th day of October 2004
Dennis M. Foley
Liquidator
Dennis M. Foley & Associates
3rd Floor, Lydiard House,
17 Lydiard Street North,
Ballarat 3350
Telephone: (03) 5331 2600,
Facsimile: (03) 5333 2713
E-mail: dmf@cooke-foley.com.au
EXCITE BEVERAGES: To Voluntarily Wind Up
----------------------------------------
Notice is hereby given that at a General Meeting of the members
of Excite Beverages Pty Ltd (In Liquidation) A.C.N. 105 262 226,
held on 11 October 2004 it was resolved that the Company be
wound up voluntarily and that for such purposes Con Kokkinos of
O'Keeffe Walton Richwol, Chartered Accountants, Suite 3, 431
Burke Road Glen Iris 3146 appointed Liquidator.
Dated this 11th day of October 2004
Con Kokkinos
Liquidator
GLEASON CONSTRUCTION: To Declare First Dividend on December 10
--------------------------------------------------------------
A first dividend is to be declared on 10th day of December 2004
in respect of priority creditors of Gleason Construction
Equipment Pty Ltd (In Liquidation) A.C.N. 080 618 944.
Creditors whose debts or claims have not already been admitted
were required on the 10th day of November 2004 to formally prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.
Creditors are advised that they are required to provide
documentary evidence to substantiate their debt or claim.
Dated this 1st day of October 2004
Robyn Erskine
Peter Goodin
Joint & Several Liquidators
Brooke Bird & Co
Chartered Accountants
471 Riversdale Road,
Hawthorn East Vic 3123
Telephone: (03) 9882 6666
GRIBBLES GROUP: Healthscope Now Holds Majority Stake
----------------------------------------------------
Hospital operator Healthscope has surprisingly emerged as the
majority shareholder of Gribbles Group after the pathology
group's largest shareholder, EC Medical Investments (ECMI)
parted with the rest of its holding, according to The Age.
ECMI, which had previously agreed to sell its remaining 150
million shares in Gribbles to Health cope by November 17, has
instead sold its shares to five other parties that have agreed
to accept Healthscope's 63 cents-a-share offer.
That is good news for Healthscope, which gained a relevant
interest in 56 percent of Gribbles shares, as minority
shareholders are now likely to start accepting the bid.
ECMI's announcement to the Australian Stock Exchange on Friday
did not say where, when or at what price the transaction between
ECMI and the other five parties occurred, or why ECMI did not
pass its holding to the bidder directly.
The respective boards and advisers of Gribbles and Healthscope
are believed to be baffled at ECMI's latest move.
Meanwhile, the Australian Taxation Office (ATO) is expected to
look into the SU$94-million sale by ECMI. The ATO has also been
investigating the trust regarding the AU$10 million worth of
dividends it received from Gribbles over the past two years.
CONTACT:
The Gribbles Group Ltd
1868 Princes Highway
Clayton
Victoria 3168
Australia
Phone: +61 3 9538 6777
Fax: +61 3 9538 6778
E-mail: info@gribbles.com.au
Web site: http://www.gribbles.com.au/
HOJJ PTY: Sets December 13 as Date for Dividend Declaration
-----------------------------------------------------------
A first and final dividend is to be declared on 13th day of
December 2004 in respect of HOJJ Pty Ltd (Subject To Deed Of
Company Arrangement) A.C.N. 098 200 116.
Creditors whose debts or claims have not already been admitted
were required on or before the 10th day of November 2004 to
formally prove their debts or claims. If they do not, they will
be excluded from the benefit of the Creditors are advised that
they are required to provide documentary evidence to
substantiate their debt or claim.
Dated this 8th day of October 2004
Peter Goodin
Deed Administrator
Brooke Bird & Co
Chartered Accountants
471 Riversdale Road,
Hawthorn East Vic 3123
Telephone: (03) 9882 6666
JAICAM PTY: Names A.S.R. Hewitt as Liquidator
---------------------------------------------
Notice is hereby given that in an extraordinary general meeting
of members of Jaicam Pty Ltd (In Liquidation) A.C.N. 101 961 200
held on 7 October 2004, it was resolved that the Company be
wound up voluntarily and at a meeting of the creditors held on 7
October 2004 pursuant to Section 497 of the Act, it was resolved
that Andrew Stewart Reed Hewitt of Grant Thornton Recovery be
appointed Liquidator.
Dated this 7th day of October 2004
JAMES HARDIE: First-half Net Profit Falls
-----------------------------------------
James Hardie Industries in a media release announced a 25-
percent decline in second quarter operating profit from
continuing operations for the three months ended 30 September
2004, to US$24.7 million.
Despite a 20-percent lift in net sales, earnings were lower due
to costs associated with the NSW Government Special Commission
of Inquiry into the Medical Research and Compensation
Foundation (SCI) and other associated developments, and
increased costs in the USA Fibre Cement business.
Excluding US$5.6 million of SCI and related costs, operating
profit for continuing operations was 8 percent lower for the
quarter, at US$30.3 million.
Overall, net sales increased 20 percent, gross profit was up 5
percent and EBIT fell 16 percent to US$40.0 million for the
quarter.
The USA Fibre Cement business continued to grow strongly,
delivering a 21-percent increase in net sales for the quarter,
but EBIT fell 9 percent due to higher spending on ramping-up
growth initiatives and higher manufacturing costs, including
increased costs caused by efficiency problems at a number of our
US plants.
The efficiency issues have been addressed and are now largely
behind us and prices of our most cost-significant raw material
are declining. In Asia Pacific Fibre Cement, net sales increased
14 percent and EBIT increased 31 percent.
The second quarter result lifted half year operating profit from
continuing operations to 30 September 2004 to US$61.8 million,
but this was down 6 percent compared to the first half of last
year due to SCI related costs. Excluding SCI and other related
costs, operating profit from continuing operations was up 7
percent to US$70.3 million. EBIT from USA Fibre Cement and Asia
Pacific Fibre Cement segments were up 4 percent and 35 percent,
respectively for the half year.
Diluted earnings per share from continuing operations decreased
from US 7.1 cents to US 5.4 cents for the 2nd quarter and from
US 14.3 cents to US 13.4 cents for the half year.
The half-year net operating profit, including discontinued
operations, of US$61.1 million includes additional costs
associated with the sale of New Zealand land in March 2004. The
net operating profit including discontinued operations for the
corresponding period of the previous year includes profit
recorded from the sale of our New Zealand Building Systems
business.
To view the entire release, click on:
http://bankrupt.com/misc/TCRAP_JAMESHARDIE112204.pdf
CONTACT:
For corporate and media enquiries only, please contact:
James Hardie Industries
Web site: http://www.jameshardie.com.au/
Greg Baxter
Executive Vice President
Level 3, 22 Pitt Street
Sydney NSW 2000
Telephone: (02) 8274 5305
Fax: (02) 8274 5218
Mobile: 0419 461 368
Steve Ashe
Vice President Investor Relations
Telephone: (02) 8274 5246
Fax: (02) 8274 5218
Mobile: 0408 164 011
Julie Sheather
Vice President Public Affairs
Telephone: (02) 8274 5206
Fax: (02) 8274 5218
Mobile: 0409 514 643
All other inquires to CustomerLink Service Centre on 13 1103
JAMES HARDIE: Faces Delisting from Ethical Index
------------------------------------------------
James Hardie Industries became the first Australian firm to be
delisted from an index of companies with responsible social and
environmental practices, according to The Australian.
James Hardie's unethical handling of its asbestos liabilities
has caused it to be removed from the SAM Sustainability Leaders
Australia Fund's list of 70 Australian companies.
The building products manufacturer, which recently announced a
fall in its profit, managed its asbestos liabilities through the
underfunded Medical Research and Compensation Foundation.
The AU$115-million SAM, which boasts institutional investors
including VicSuper and UniSuper, is a subsidiary of
Switzerland's Sustainable Asset Management, the body responsible
for managing the global Dow Jones Sustainability Index.
JENJAY PTY: To Undergo Winding Up Process
-----------------------------------------
Notice is hereby given that a General Meeting of Members of
Jenjay Pty Ltd (In Voluntary Liquidation) A.C.N. 007 595 244 was
held on 7 October 2004, at which a Special Resolution was passed
that the Company be wound up voluntarily and that Bruce Neil
Mulvaney of Bruce Mulvaney & Co, 1st Floor, 613 Canterbury Road,
Surrey Hills, Victoria, 3127 be appointed Liquidator for such
winding up.
Dated this 17th day of October 2004
Bruce N. Mulvaney
Liquidator
Bruce Mulvaney & Co
1st Floor, 613 Canterbury Road,
Surrey Hills Vic 3127
K HOMES: To Declare Priority Dividend on December 7
---------------------------------------------------
A first priority dividend is to be declared on 7th day of
December 2004 in respect of K Homes Pty Ltd (In Liquidation)
A.C.N. 078 011 999.
Creditors whose debts or claims have not already been admitted
were required on the 9th day of November 2004 to formally prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.
Creditors are advised that they are required to provide
documentary evidence to substantiate their debt or claim.
Dated this 8th day of October 2004
Robyn Erskine
Peter Goodin
Joint & Several Liquidators
Brooke Bird & Co
Chartered Accountants
471 Riversdale Road,
Hawthorn East Vic 3123
Telephone: (03) 9882 6666
MAYNE GROUP: Launches Paclitaxel in Spain
-----------------------------------------
Mayne Group Limited (ASX:MAY) announced in a press release that
its Spanish partner, Laboratorios Farmac‚uticos ROVI SA (ROVI),
has commenced sales and distribution of Mayne's injectable
paclitaxel product. This is the first Spanish approval and
launch of a generic paclitaxel for injection.
Mayne's Group Managing Director and Chief Executive Officer, Mr
Stuart James said that ROVI's well-established national sales
and marketing team and local market knowledge, combined with
Mayne's fully integrated supply chain and global experience with
paclitaxel, would help the two companies achieve a strong
position in this major European market.
"With today's launch of paclitaxel in Spain and Mayne's
partnership with IVAX for Paxener, Mayne now markets paclitaxel
in twelve European countries representing more than 90% of the
EU paclitaxel market by value," Mr. James said.
"The Spanish launch of paclitaxel is further evidence of Mayne's
ability to deliver first-to-market alternatives for important
hospital products as we continue to strengthen our leadership
position in the European generic injectable market," he said.
Paclitaxel is widely used for the treatment of breast, ovarian
and non-small cell lung cancer. According to IMS in the 12
months to June 2004, Bristol Myers Squibb, the innovator of the
branded drug Taxolr, recorded sales in Spain of US$93 million,
and Spain is the second largest European paclitaxel market
behind France based on consumption.
Mayne first established a relationship with ROVI in 2003 as the
marketing partner for pamidronate, an injectable drug used for
hypercalcemia. ROVI's recent launch of Mayne's irinotecan and
now paclitaxel means that three of Mayne's key oncology products
were first to market in Spain and leverage ROVI's experienced
and established hospital pharmaceutical sales force.
Mayne Group Limited is listed on the Australian Stock Exchange
and has businesses in international specialty pharmaceuticals
(the manufacture of injectable and oral pharmaceuticals for
distribution to more than 50 countries), diagnostic services
(pathology, diagnostic imaging and medical centres), pharmacy,
and health-related consumer products.
Laboratorios Farmac‚uticos ROVI SA (ROVI) is a leading Spanish
pharmaceutical company devoted to the research, manufacturing
and selling of pharmaceutical products. In 2003, ROVI was
awarded the Principe Felipe Prize for corporate excellence in
the category of technological innovation, highlighting the
enormous therapeutic interest of ROVI's proprietary compound
Bemiparin (second generation Low Molecular Weight Heparin). ROVI
also has direct presence in Portugal and through distributors in
many other countries.
CONTACT:
Mayne Group
Head Office Address:
Level 21/390 St Kilda Rd Melbourne 3004
Head Office Phone: +613 9868-0700
Web site: http://www.maynegroup.com/
PRO SPORT: Winds Up Voluntarily
-------------------------------
Notice is hereby given that at a General Meeting of Members of
Pro Sport International Pty. Ltd. (In Liquidation) A.C.N. 102
485 290 held on 29th September 2004 a special resolution was
passed that the Company be wound up voluntarily and that Gregory
Stuart Andrews, 22 Drummond Street, Carlton 3053 be appointed
Liquidator.
Dated this 6th day of October 2004
G.S. Andrews
Liquidator
G S Andrews & Associates
Certified Practising Accountants
22 Drummond Street, Carlton Vic 3053
Telephone: (03) 9662 2666,
Facsimile: (03) 9662 9544
ROMVAL PTY: To Declare Final Dividend on December 9
---------------------------------------------------
A final dividend is to be declared on 9 December 2004 for Romval
Pty Limited A.C.N. 080 981 040 (Subject To Deed Of Company
Arrangement).
Creditors whose debts or claims have not already been admitted
were required on 9 November 2004 to formally prove their debts
or claims. If they do not, they will be excluded from the
benefit of the dividend.
Claim forms can be obtained from the liquidator.
Dated this 19th day of October 2004
Roderick Mackay Sutherland
Deed Administrator
Jirsch Sutherland Chartered Accountants
Level 2, 84 Pitt Street, Sydney NSW 2000
Telephone: (02) 9233 2111,
Facsimile: (02) 9233 2144
SARNEN PTY: Members Resolve to Voluntarily Wind Up
--------------------------------------------------
Notice is hereby given that at a meeting of creditors held on
the 30th of September 2004, it was resolved that Sarnen Pty Ltd
(In Liquidation) A.C.N. 097 377 029 be wound up voluntarily and
that for such purpose Glenn Anthony Crisp, Chartered Accountant,
of RSM Bird Cameron Partners, Level 8, 525 Collins
Street, Melbourne, be appointed Liquidator.
Dated this 5th day of October 2004
Glen Anthony Crisp
Liquidator
RSM Bird Cameron Partners
Rialto South Tower, Level 8,
525 Collins Street,
Melbourne Vic 3000
Telephone: (03) 9286 1800,
Facsimile: (03) 9286 1899
TREKER PTY: To Declare Dividend on November 24
----------------------------------------------
A dividend is to be declared on Wednesday 24 November 2004 for
Treker Pty Ltd (Subject To Deed Of Company Arrangement) as
trustee for The Jones Family Trust A.C.N. 084 798 069.
Creditors whose debts or claims have not already been admitted
were required on or before Friday 19 November 2004 to formally
prove their debts or claims. If they do not, they will be
excluded from the benefit of the dividend.
Dated this 11th day of October 2004
Bruce N. Mulvaney
Deed Administrator
Bruce Mulvaney & Co
1st Floor, 613 Canterbury Road,
Surrey Hills Vic 3127
TVARKOVSKI PTY: Supreme Court Issues Winding Up Order
-----------------------------------------------------
Notice is hereby given on the 6th October 2004 the Supreme Court
of Victoria, made an Order that Tvarkovski Pty Ltd (In
Liquidation) A.C.N. 058 699 933 be wound up by the Court and
appointed Gregory Stuart Andrews, 22 Drummond Street, Carlton
3053 was appointed Liquidator.
Dated this 11th day of October 2004
G.S. Andrews
Official Liquidator
G S Andrews & Assocs
22 Drummond Street, Carlton Vic 3053
Telephone: (03) 9662 2666,
Facsimile: (03) 9662 9544
VICTORIAN SNOW: To Wind Up Voluntarily
--------------------------------------
Notice is hereby given that at a meeting of creditors held on
the 30th of September 2004, it was resolved that Victorian Snow
Resorts Pty Ltd (In Liquidation) A.C.N. 006 266 762 be wound up
voluntarily and that for such purpose Glenn Anthony Crisp,
Chartered Accountant, of RSM Bird Cameron Partners, Level 8, 525
Collins Street, Melbourne, be appointed Liquidator.
Dated this 5th day of October 2004
Glen Anthony Crisp
Liquidator
RSM Bird Cameron Partners
Rialto South Tower, Level 8,
525 Collins Street,
Melbourne Vic 3000
Telephone: (03) 9286 1800,
Facsimile: (03) 9286 1899
* ASIC Bans Failed Furniture and Electrical Retailer
----------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
banned Mr. Monty Khoury, of Brisbane, from managing corporations
for two and-a-half years.
An ASIC investigation found that Mr. Khoury was the sole
director of seven failed companies including No Frills Pty Ltd,
MK Resources Pty Ltd, Redmond Holdings Pty Ltd, Toowoomba
Furniture and Electrical Pty Ltd, Jackson Manufacturing Pty Ltd,
MK Security Pty Ltd and Shailer Holdings Pty Ltd.
These companies operated electrical retail stores at Lawnton and
Toowoomba and furniture stores at Loganholme, Cannon Hill,
McGregor, Virginia and Burleigh Heads.
The companies that Mr. Khoury was a director of were placed into
voluntary administration and subsequently wound up with the
liquidators reporting that each of the corporations was unable
to pay creditors more than 50 cents in the dollar.
The companies left significant debts to the Australian Taxation
Office and Workcover, which resulted in non-payment of
superannuation entitlements. Other creditors including Sharp
Corporation Australia Pty Ltd, NEC Australia and Samsung
Electronic Australia Pty Ltd were also affected by the failure
of the Khoury group of companies.
ASIC's Executive Director of Public and Commercial Services, Mr.
Mark Drysdale said it was imperative that people contemplating
becoming a Company officer were aware of both their
responsibilities and the consequences of not complying with the
law.
'Persons who become officeholders without understanding their
role and responsibilities risk regulatory action if they fail to
conduct their duties as a Company director honestly and in the
best interests of the Company and its' creditors', Mr. Drysdale
said.
==============================
C H I N A & H O N G K O N G
==============================
CHINA CITY: Notes Unusual Price, Volume Movements
-------------------------------------------------
The board of directors of China City Natural Gas Holdings
Limited has noted the recent increase in the price and trading
volume of the shares of the Company and wishes to state that it
is not aware of any reasons for such increases.
Save as our announcements dated:
(i) 21 September 2004 in relation to the preliminary discussion
with certain Japanese investors regarding a proposed fund
raising exercise of the Company.
(ii) 20 October 2004 in relation to a Memorandum of
Understanding regarding a possible acquisition of a majority
stake in Shanghai Holdfast Science & Technology Co., Ltd; the
Board confirms that there are no negotiations or agreements
relating to intended acquisitions or realizations which are
discloseable under rule 13.23, neither is the Board aware of any
matter discloseable under the general obligation imposed by rule
13.09, which is or may be of a price-sensitive nature.
Made by the order of the Board, the directors of which
individually and jointly accept the responsibility for the
accuracy of this statement.
For and on behalf of
China City Natural Gas Holdings Limited
Wong King Shiu, Daniel
Director
CHINA CITY: Revises Board Meeting Date
--------------------------------------
China City Natural Gas Holdings announced a change of board
meeting date at the Hong Kong Stock Exchange.
Market participants are requested to note that the board meeting
to approve the final results of China City Natural Gas Holdings
Limited, 603 for the year ended July 31, 2004 has been changed
from 25th November 2004 to 29th of November, 2004.
CROWN EQUIPMENT: Creditors to Prove Debts by December 19
--------------------------------------------------------
Notice is hereby given that the creditors of Crown Equipment
Limited whose debts or claims have not already been admitted,
are required on or before the 19th day of December 2004 to prove
by affidavit their debts or claims by sending in their names,
addresses, and descriptions and full particulars of their debts
or claims in accordance with Form 63A of the Companies (Winding
Up Rules), and the names and addresses of their solicitors (if
any)to the undersigned Liquidators of the said Company.
If so required by notice in writing by notice in writing from
the said Liquidators, they are to come in personally or by their
Solicitors or duly authorized Representative and prove their
said debts or claims and to establish any title they may have to
priority at such time and place as shall be specified in such
notice.
In default of complying with this Notice, such creditors will be
excluded from the benefit of any distribution made before such
debts or claims are proved and/or from objecting to any
distribution made before such priorities are established.
Dated this 19th day of November 2004.
Natalia K M Seng
Susan Y H LO
Joint and Several Liquidator
28/F, Bank of East Asia Harbour
View Centre, 56 Gloucester Road,
Wanchai, Hong Kong
KWONG SUN: To Receive Proofs of Claims Until November 26
--------------------------------------------------------
Kwong Sun Office Supplies Company Limited revealed its last day
for receiving proofs of claims.
Name of Liquidator: The Official Receiver
Registered Office and Liquidator's Address: 10th floor,
Queensway Government Offices, 66 Queensway, Hong Kong
Last Day for Receiving Proofs: 26 November 2004
Dated this 12th day of November 2004
E T O'CONNELL
Official Receiver & Liquidators
NOVEL BUILDING: Court to Hear Bankruptcy Petition on December 8
---------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Novel Building Supplies, Limited by the High Court of Hong Kong
Special Administrative Region was on the 15th day of October
2004 presented to the said Court by COCA Investment Company
Limited whose registered office is situated at Top Floor,
Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui East, Kowloon,
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.
Ford, Kwan & Company
Solicitors for the Petitioner
Suites 1505-1508, 15th Floor
Chinachem Golden Plaza
No. 77 Mody Road, Tsimshatsui East
Kowloon
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.
STAR WORLD: Court Appoints Joint and Several Liquidators
--------------------------------------------------------
By an order of the High Court of the Hong Kong Special
administrative Region, dated the 8th day of September 2004, Mr.
Fan Wai Kuen and Mr Nicholas Timothy Cornforth Hill of 7/F.,
Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong
have been appointed Joint and Several Liquidators of Star World
International Limited without a committee of inspection.
Dated this 18th day of November, 2004
Fan Wai Kuen
Nicholas Timothy Cornforth Hill
Joint and Several Liquidators
YAU FUNG: Sets Creditors Meeting on December 17
-----------------------------------------------
Notice is hereby given, pursuant to Section 241 of the Companies
Ordinance, that a meeting of the creditors of Yau Fung Tours And
Transportation Company Limited will be held at 11:30 a.m. on
17th day of December 2004 at 5th Floor, Ho Lee Commercial
Building, 38-44 D'Aguilar Street, Central, Hong Kong to appoint
a Liquidator and to consider further matters relevant to the
creditors' voluntary winding-up of the above named Company
pursuant to Sections 241, 242, 243, 244 and 255A of the
Companies Ordinance.
Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at the Company's registered office at
26th Floor, Guangdong Investment Tower, 148 Connaught Road
Central, Hong Kong not later than 12:00 noon on the day before
the meeting or adjourned meeting at which they are to be used.
Dated this 19th day of November 2004
By order of the board of
Ren Yingguo
Director
=================
I N D O N E S I A
=================
ASIA PULP: Creditors Launch New Attack on Units' Restructuring
--------------------------------------------------------------
A new battle against a US$6.7-billion debt restructuring of Asia
Pulp and Paper's (APP) subsidiaries was recently launched by a
group of U.S. secure creditors, says the Financial Times.
The protesting group threatened to go after other creditors and
seize any payments made to them by APP under the scheme.
APP, the largest corporate defaulter in emerging markets
history, was poised to finalize the rehabilitation of its four
Indonesian units. The firm has fixed December as deadline for
bondholders to approve the deal, which would enable APP to
extend its debt repayment period to 22 years.
The scheme would allow APP to make an interest payment of around
US$400 million to creditors as early as next month, and start
negotiations with overseas lenders of its Chinese subsidiaries
and Singapore parent.
But a group of secured bondholders led by disgruntled Oaktree
Capital and Gramercy Advisors, which recently won a US$353-
million ruling against APP, opposed the Indonesian
restructuring.
Oaktree and Gramercy warned they would use a U.S. Court's
November 12 judgment to go after fellow creditors who accepted
payments from APP.
The ruling gave the group access to the files of GBR Information
Services, a New York firm hired by APP to communicate with its
Indonesian bondholders, allowing them to track payments to
fellow creditors.
CONTACT:
Asia Pulp & Paper Company Ltd.
69 Loyang Dr.
508958 Singapore
Phone: +65-6477-6118
Fax: +65-6477-6116
Web site: http://www.asiapulppaper.com
INDOFOOD SUKSES: Unit To Export More Wheat Flour in 2005
--------------------------------------------------------
Bogasari Flour Mills, a subsidiary of PT Indofood Sukses Makmur,
plans to export 100,000 tons of wheat flour next year, Asia
Pulse says.
The volume of wheat to be exported in 2005 would be twice as
much as this year's, estimated to total only 45,000 tons.
Indofood vice president Franciscus Welirang said the rise in
imports would not affect the supply of the domestic market.
According to Mr. Welirang, the Company is seeking to expand its
export market to Middle East. In fact, Indofood is currently
waiting for the result of a tender in Libya, which is importing
up to 200,000 tons of wheat flour a year.
Mr. Welirang gave assurance that the Company could easily
fulfill domestic supply despite increase in exports, as Bogasari
yields a hefty 3.4 million tons of flour annually.
CONTACT:
Indofood Sukses Makmur Tbk
Gedung Ariobimo Sentral,
12th Fl., Jl. H.R. Rasuna Said X-2 Kav
Jakarta 12950,
Indonesia
Phone: +62-21-522-8822
Fax: +62-021-522-6014
* Government Mulls Sale of Unprofitable SOEs
--------------------------------------------
The new government is planning to divest or dissolve its money-
losing businesses in line with a scheme to restructure all
state-owned enterprises (SOEs), according To The Jakarta Post.
The policy was part of the state's proposed "SOEs blueprint"
aimed at efficiently managing state companies for the next five
years.
Mahmuddin Yasin, deputy for privatization at the Office of State
Minister of State Enterprises, confirmed the government is
considering disposing of SOEs with "poor performance, lack of
business prospects and have no public-service obligations".
He added that SOEs that were still considered viable but were
poorly managed would undergo restructuring by merging them or
injecting fresh capital from public investors.
The government will, likewise, maintain ailing SOEs with public-
service obligations by providing them with subsidies and other
facilities that could sustain their operations.
Under the "SOEs blueprint", the new government proposes to
create a holding Company that would efficiently oversee SOEs,
similar to Singapore's government arm Temasek.
If the plan is realized, executives of the holding entity will
be tasked to handle 162 companies, with more than IDR700
trillion (about US$77 billion) in combined assets.
=========
J A P A N
=========
ALL NIPPON: To Begin E-ticketing Services with United Airlines
--------------------------------------------------------------
From mid December this year, All Nippon Airlines (ANA) and
United Airlines will begin issuing electronic tickets (e-
tickets) valid for travel on each other's networks, allowing
passengers connecting from ANA international flights to United
Airlines' domestic or international flights, or vice-versa, to
do so with the same e-ticket.
At present, ANA issued e-tickets are valid only for
international travel on ANA operated flights, however, this
latest development will have the convenience of just one e-
ticket for journeys on both ANA and United Airlines operated
flights, including code-shares.
In customer surveys around the globe e-tickets belong to the
most demanded airline services. Without having the need for
traditional paper ticket documents, passengers can check-in for
travel using no more than a form of personal identification
(credit or mileage programme card or passport). All travel data
is available throughout the trip, changes to the itinerary may
be swiftly and simply made, and lost tickets are no longer an
issue.
The bilateral e-ticketing link is part of a global Star Alliance
project, which will in the near future allow customers to travel
on the alliance network with one single e-ticket.
Customers in Japan using e-tickets will also be able to take
advantage of ANA's "e-Pre Check-in" service to check-in via
their personal computer or mobile phone from three days to one
hour prior to departure. Furthermore, using mobile phones
equipped with FeliCa contactless chip technology, or 2D bar code
technology on ordinary mobile phones, they will be able to
dramatically reduce the time taken to issue boarding passes at
Self Check-in Machines once they arrive at their departure
airport: from an average of 50 seconds to just eight.
From October 1 this year to May 31, 2005, customers reserving e-
tickets via ANA's website, the ANA Reservation Centre, or at
appointed travel agents, will be entitled to up to 1,000 bonus
miles.
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
DAIKYO INCORPORATED: To Sell US$2.9-Bln Worth of Assets
-------------------------------------------------------
In line with its restructuring efforts, ailing Daikyo
Incorporated plans to sell more than JPY300 billion (US$2.9
billion) worth of properties in January, Reuters reports, citing
the Nihon Keizai Shimbun.
Daikyo will focus on sales of real estate in a bid to revive its
business under the auspices of the Industrial Revitalization
Corporation of Japan (IRCJ).
Daikyo, which is expected to book an extraordinary loss of about
JPY265.2 billion for the first half, will sell about 10 office
buildings, 4 golf courses and more than 1,000 rental apartments,
reducing the group's total assets by 40 percent to JPY450
billion.
Around seven to eight firms, including foreign investment funds,
are said to be interested in purchasing the properties.
CONTACT:
The Daiei Incorporated
4-1-1, Minatojima Nakamachi,
Chuo-ku, Kobe, 650-0046
Japan
Phone: +81-78-302-5001
Fax: +81-78-302-5572
Web site: www.daiei.co.jp
IHARA K.K.: Enters Bankruptcy
-----------------------------
Ihara K.K., operator of Pachinko parlors, has entered
bankruptcy, according to Teikoku Databank America.
The firm, based in Nagoya-shi, Aichi 464-0075, has total
liabilities of US$30.83 million.
For more information, visit http://www.teikoku.com/or contact
office@teikoku.com or +1-212-421-9805.
MITSUBISHI MOTORS: Undergoes Assets Reevaluation
------------------------------------------------
Mitsubishi Motors Corporation (MMC) is undergoing reevaluation
of its assets by a major accounting firm in a bid to draw up a
credible business rehabilitation plan, Jiji Press relates.
The accounting firm is reexamining the value of the carmaker's
production facilities the costs of all parts and components, and
the break-even points for its plants and sales networks, as well
as the costs of developing new vehicles.
MMC will then map out a new rehabilitation scheme based on the
results of the financial scrutiny, which are expected to be
announced later this month.
The new program would feature MMC's plan to strengthen its ties
with Nissan Motor Company in the production and sales of
minivehicles.
The Mitsubishi group is reportedly prepared to infuse money into
MMC if the struggling automaker shows them a solid
rehabilitation program.
CONTACT:
Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
Web site: http://www.mitsubishi-motors.co.jp
SOFTBANK CORPORATION: Proposes to Lease Hawks' Home Stadium
-----------------------------------------------------------
Softbank Corporation has proposed to lease the home stadium of
Daiei Incorporated's pro baseball team from Colony Capital LLC
for more than JPY3 billion annually, reports Kyodo News.
Internet service provider Softbank, which inked a deal with
ailing Daiei to purchase the Daiei Hawks, is optimistic it can
reap profit at the stadium by using it for other events such as
concerts and exhibitions.
Sources said that Colony Capital, a U.S. investment firm that
bought the Fukouka stadium from Daiei in March, is likely to
accept the proposal.
Earlier, Softbank has reached a basic accord with Colony to
purchase promotional rights to the team, including ticket sales.
Colony, on the other hand, is expected to charge Softbank for
use of the stadium to cover losses that would be incurred from
the sale of promotional rights.
Colony said it is not considering selling the stadium.
CONTACT:
Softbank Corporation
24-1 Nihonbashi-Hakozakicho Chuo-ku
Tokyo 103-8501
Web site: http://www.softbank.co.jp/
TOSHIBA CORPORATION: Reinforces Residential Fuel Cell Venture
-------------------------------------------------------------
Toshiba Corporation has announced moves to reinforce its on-site
fuel cell business, including a buyout of Toshiba International
Fuel Cells (TIFC) from UTC to make it a wholly owned Toshiba
subsidiary.
The announcement follows a November 9 agreement with UTC Fuel
Cells of Connecticut, U.S.A, under which Toshiba acquired UTC
Fuel Cells' 49% interest in TIFC. The Company will be renamed as
Toshiba Fuel Cells Power Systems and will take the lead in
promoting commercialization of polymer electrolyte fuel cells
(PEFC) in the Japanese market.
The agreement with UTC Fuel Cells will allow Toshiba to focus on
the immediate target of bringing 1kW class PEFCs to the Japanese
residential market. Because PEFCs offer an eco-friendly route to
electricity co-generation, and heat output of approximately 60
degrees centigrade, Japan's Ministry of Economy, Trade and
Industry is promoting their on-site use as an alternative energy
source for residences, and will launch a program in 2005 to
support the installation and monitoring of approximately 3,000
prototype fuel cells over three years.
Toshiba Fuel Cells Power Systems will use this policy initiative
as an opportunity to expand its fuel cell business and targets
to supply the project with several hundreds of 1kW PEFCs a year.
METI's forecasts see PEFC generating 2,200MW electricity for the
residential use by 2010. Toshiba expects 2008 to be the year
when the PEFC market starts to expand in Japan, and new Company
looks to support this expansion with the capability to supply
1,000 PEFCs a year.
Toshiba and UTC Fuel Cells will remain as key technical partners
for continued development of advanced fuel cells that meet
diversifying market needs, extending a collaborative
relationship in developing fuel-cell technology for commercial
and residential applications that dates back to the 1980's.
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
=========
K O R E A
=========
* Number of Corporate Bankruptcies Rose by 93
---------------------------------------------
South Korea's corporate bankruptcies rose to 415 as of October
of this year, up 93 from 322 in September, The Korea Herald
reports, citing The Bank of Korea.
The increase resulted from the prolonged economic downturn and
the extension of corporate bill settlement dates as a result of
the Chosuk Holidays in the last week of September.
Bankruptcy ratio also rose from 0.01 percentage point to 0.06
percent over the same period. The bankruptcy figure was the
highest since December last year when the total of 432
businesses failed across the country.
In Seoul, 132 business failures by region were reported last
month, an increase of 15 from September, while the number of
bankruptcies sharply rose by 78 to 283 in other regions during
the same period, an indication that businesses in provincial
areas were more severely affected by continuing economic slump.
"Around 40 companies that would have gone bankrupt at the end of
September reported business failures in the first week of last
month," the officials added.
However, the number of new businesses ballooned to 2440 in
October a 337 increase from a month ago.
===============
M A L A Y S I A
===============
ANCOM BERHAD: Issues Notice of Shares Buy Back
----------------------------------------------
Ancom Berhad issued a notice of shares buy back on November 19,
2004.
Date of buy back: 19/11/2004
Description of shares purchased: Ordinary shares of RM1.00 each
Total number of shares purchased (units): 1,000
Minimum price paid for each share purchased (RM): 0.795
Maximum price paid for each share purchased (RM): 0.795
Total consideration paid (RM):
Number of shares purchased retained in treasury (units): 1,000
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date
(units): 5,319,700
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
BERJAYA GROUP: Unveils Disposal of Shares, Warrants
---------------------------------------------------
Berjaya Group Berhad disclosed to the Bursa Malaysia Securities
Berhad the following details:
Proposed disposal of shares and warrants in Hyundai-Berjaya
Corporation Berhad (HBCORP) to space Tracks Sdn Bhd (STSB), a
wholly owned subsidiary of Sime Darby Berhad (SDB) for a
disposal consideration of RM3.60 per ordinary share of RM1.00
each in HBCORP (HBCORP share) and RM2.60 per warrant issued by
HBCORP (HBCORP warrant) (proposed HBCORP disposal);
Proposed disposal of shares in Hyumal Motor Sdn Bhd (HYUMAL) to
STSB, a wholly owned subsidiary of SDB for a disposal
consideration of rm25.00 per ordinary share of RM1.00 each in
HYUMAL (proposed HYUMAL disposal); and
Proposed disposal of shares in Inokom Corporation Sdn Bhd
(INOKOM) to STSB, a wholly owned subsidiary of SDB for a
disposal consideration of RM1.50 per ordinary share of RM1.00
each in Inokom (proposed Inokom disposal)
Under Section 36(1) of the Malaysian Code on Takeovers and
Mergers, 1998 (Code), Commerce International Merchant Bankers
Berhad (CIMB), as a connected person of BGroup (as defined under
Section 36(6) of the Code), is required to disclose the total
number and price of all voting shares in HBCorp and Sime Darby
Berhad (SDB) which it has dealt in for its own account.
In accordance with Section 36(2) of the Code, CIMB wishes to
inform that its wholly owned subsidiary, CIMB Securities Sdn
Bhd, has dealt in the following shares for its own account on 19
November 2004, details of which are as set out in Table 1.
This announcement is dated 22 November 2004.
Table 1: Details of trading by CIMB Securities Sdn Bhd
Transaction Securities Quantity Price
(RM)
Purchase Ordinary shares of 10,000 5.8000
RM1.00 each in SDB
(SDB Shares)
Sold SDB Shares 10,000 5.9000
CONTACT:
Berjaya Group Berhad Co.
11th Fl., Menara Berjaya, KL Plaza, 179,
Jalan Bukit Bintang
55100 Kuala Lumpur, Malaysia
Phone: +60-3-2935-8888
Fax: +60-3-2935-8043
CME GROUP: Agrees to Rescind Conditional Sale, Purchase Deal
------------------------------------------------------------
CME Group Berhad refers to its announcement dated 30 April 2004,
wherein PM Securities Sdn Bhd had announced the Proposals on
behalf of the Board of Directors of the Company.
In respect of the Proposed Commercial Building Acquisition, PM
Securities Sdn Bhd, on behalf of the Board of Directors of CME,
announce that the Company and the vendor of the Commercial
Building, Transcommodities Futures (Malaysia) Sdn Bhd (TFMSB)
had on 19 November 2004 entered into a Deed of Rescission
whereby both parties have mutually agreed to rescind the
conditional sale and purchase agreement dated 30 April 2004
relating to the Proposed Commercial Building Acquisition.
Accordingly, CME will not proceed with the Proposed Commercial
Building Acquisition.
Following the abortion of the Proposed Commercial Building
Acquisition, CME has proposed the following revision to be made
to the proposed utilization of the proceeds to be raised from
the Proposed Rights Issue with Warrants (Proposed Revision) as
follows:
As per announcement Pursuant to the
dated 30 April 2004 Proposed Revision
Proposed Utilisation RM'000 RM'000
Part payment for the
purchase consideration
for:
- Proposed Shoplot 9,376 9,376
Acquisition
- Proposed Commercial 3,120 -
Building Acquisition
Working capital 16,087 16,087
for CME Group
Repayment of 3,120 -
bank borrowings
Estimated expenses for the Proposed Rights Issue with Warrants
and Proposed Shoplot Acquisition
1,500 1,500
Total 30,083 30,083
Apart from the above, the terms of the Proposed Rights Issue
with Warrants and Proposed Shoplot Acquisition remain unchanged.
CONTACT:
CME Group Berhad
Lot 19, Jalan Delima 1/1
Subang Hi-Tech Industrial Park
Batu Tiga
40000 Shah Alam,
Selangor
Phone: (03) 56331188
Fax: (03) 56343838
This announcement is dated 19 November 2004.
CONSOLIDATED FARMS: Subjects Securities to Trade Restriction
------------------------------------------------------------
With effect from 22 November 2004, Consolidated Farms Berhad
will have its listed securities subjected to trading restriction
for its failure to comply with the original time frames
specified in Practice Note No. 4/2001 (PN4) to regularize its
financial condition.
This trading restriction is in the form of full payment before
purchase and will continue to be imposed on the above Company
until the Company no longer triggers the criteria prescribed in
paragraph 2.0 of PN4, namely trading restriction will be imposed
on the above Company until the implementation of the Company's
regularization plan.
CONTACT:
Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299
DATAPREP HOLDINGS: Appoints New Audit Committee Member
------------------------------------------------------
Dataprep Holdings Berhad announced the appointment of Dato' Pian
bin Sukro as a member of its Audit Committee effective November
19, 2004.
Date of change: 19/11/2004
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Dato' Pian bin Sukro
Age: 56
Nationality: Malaysian
Qualifications: Bachelor of Science (Hons.) - Degree in
Electrical Engineering
Master in Science (York) - Project Analysis, Finance and
Investment C.Eng., MIEE (UK); MIEM (Malaysia); P. Eng (Malaysia)
Working experience and occupation:
He was the President and Chief Executive Officer of Tenaga
Nasional Berhad. He was trained as an engineer and holds a B.Sc.
(Hons.) degree. He later secured his M.Sc. in Project analysis,
Finance and Investment. Dato' Pian is also a Chartered Engineer,
member of Institute of Electrical Engineers, UK, member of
Institute of Engineers, Malaysia and a member of Professional
Engineers, Malaysia.
He has held senior positions at TNB within the 34 years of
service with the organization which covers the full spectrum of
the utility business such as equipment manufacture and
installation; power station operation and maintenance, project
construction and commissioning, project engineering and
management; steps and studies related to the introduction of
nuclear power to Malaysia; project appraisals and feasibility
studies; power system development planning including fuel
procurement, energy pricing and site studies; formulation of
electricity tariff; ASEAN inter-utility cooperation; North-East
and South-East Asian Utility cooperation, ASEAN energy
cooperation; managing the implementation of thermal generation
projects; corporate, financial and strategy planning;
corporatisation of LLN to TNB; privatization of TNB; industry
regulation; introduction of independent power producers; power
purchase agreements; corporate restructuring and formation of
subsidiaries, sourcing of project and corporate funds (local and
international); formation of joint ventures and JV companies;
development and diversification of TNB's business locally and
overseas.
He has also undertaken various functions for other groups and
organizations including the Ministry of Energy, Communications
and Multimedia, ASEAN, International Atomic Energy Agency
(IAEA), World Energy Council, International Council on Large
Electric Systems (CIGRE), Asian Development Bank and the World
Bank (IBRD).
Directorship of public companies (if any): Malaysian Merchant
Marine Berhad
Family relationship with any director and/or major shareholder
of the listed issuer: nil
Details of any interest in the securities of the listed issuer
or its subsidiaries: nil
Composition of Audit Committee (Name and Directorate of members
after change): (1) Mr Michael Yee Kim Shing (Chairman) -
Independent & Non-Executive Director
(2) Datuk Lim Chee Wah (Member) - Executive Director
(3) Encik Muhammad Fauzi bin Abd Ghani (Member) - Independent &
Non-Executive Director
(4) Dato' Pian bin Sukro (Member) - Independent & Non-Executive
Director
CONTACT:
Dataprep Holdings Berhad
Lot 69-73, Jalan Setiabakti
Bandar Damansara
50490 Kuala Lumpur, WP
Malaysia
Phone: 603-2539625
Fax: 603-2539620
EKSONS CORPORATION: Shuts Down Garment Operations
-------------------------------------------------
The Board of Directors of Eksons Corporation Berhad (Eksons) has
on 19 November 2004 resolved to cease business operations of the
Group's garment division. The garment division of Eksons
comprises of two wholly owned subsidiary companies. Whereby it
was resolved that business operations will cease (Cessation) on
the following dates:
(i) Chongai Knitting Company Sdn Bhd (CKC) with effect from 15
March 2005; and (ii) Uomo Donna (Malaysia) Sdn Bhd (UDM) with
effect from 16 February 2005.
INFORMATION ON SUBSIDIARY COMPANIES
CKC was incorporated on 31 March 1977 and is principally
involved in the manufacture of knitwear. The authorized share
capital of CKC is RM25 million divided into 25 million ordinary
shares of RM1.00 each and the issued and paid-up share capital
is RM16 million divided into 16 million ordinary shares of
RM1.00 each.
UDM was incorporated on 17 January 1990 and its principal
activity is that of trading in fashion wear. The authorized and
issued and paid-up share capital of UDM is RM3 million divided
into 3 million ordinary shares of RM1.00 each.
FINANCIAL EFFECT OF CESSATION
The contribution of the garment division to the Group's total
turnover is 3% for the financial year ended 31 March 2004. The
said cessation will not have any material effect on the net
tangible assets and earnings of the Group for the financial year
ending 31 March 2005.
RATIONAL FOR THE CESSATION
The garment division has been continuously incurring losses
since the year 2000. The Management and Board of Directors have
reviewed the feasibility of continuing with the garment business
operations, but in the light of the continued losses, the Board
of Directors of Eksons is of the opinion that the said cessation
of business is in the best interest of Eksons and the Group.
DIRECTORS' INTEREST IN THE CESSATION
None of the Directors or substantial shareholders of Eksons
and/or any persons connected with them have any interest, direct
or indirect in the above cessation exercise.
CONTACT:
Eksons Corporation Berhad
Wisma Chongai
1, Persiaran Tasek Timur 6
Taman Medan Bercham
31400 Ipoh, Perak
Phone: 05-5474721
Fax: 05-5474153
Web site: http://www.eksons.com.my
FCW HOLDINGS: AGM Set For December 14
-------------------------------------
Notice is hereby given that the Forty-Ninth Annual General
Meeting of the shareholders of FCW Holdings Berhad will be held
at Dewan Berjaya, Bukit Kiara Equestrian and Country Resort,
Jalan Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur,
Malaysia on Tuesday, 14 December, 2004 at 11.00 a.m. for the
purpose of considering and, if thought fit, passing the
following ordinary resolutions:
AGENDA
(1) To receive and adopt the Directors' Report and the Audited
Financial Statements of the Group and the Company for the
financial year ended 30 June 2004 and the Auditors' Report
thereon. Ordinary Resolution 1
(2) To approve the payment of Directors' fees in respect of the
financial year ended 30 June 2004. Ordinary Resolution 2
(3) To re-elect the following Directors retiring in accordance
with Article 83 of the Company's Articles of Association:
a) Mr Ong Bing Yap; and Ordinary Resolution 3(a)
b) Ms Lim Lai Sam Ordinary Resolution 3(b)
(4) To re-appoint Messrs Ernst & Young as Auditors of the
Company and to authorize the Directors to fix their
remuneration. Ordinary Resolution 4
(5) To transact any other ordinary business of the Company for
which due notice has been given.
By Order of the Board,
Jenny Wong Chew Boey
Tan Shien Yin
Secretaries
Kuala Lumpur
22 November 2004
Notes:
(1) A member entitled to attend and vote at the Annual General
Meeting is entitled to appoint one or more proxies (but not more
than two) to attend and vote instead of him. A proxy may but
need not be a member of the Company and the provisions of
Section 149(1)(b) of the Companies Act, 1965 shall not apply to
the Company. Where a member appoints two (2) proxies to attend
the same meeting, the member shall specify the proportion of his
shareholding to be represented by each proxy, failing which the
appointment(s) shall be invalid.
(2) The instrument appointing a proxy shall be in writing under
the hand of the appointor or of his attorney duly authorized in
writing or, if the appointor is a corporation, either under the
corporation's seal or under the hand of an officer or attorney
duly authorized. The instrument appointing a proxy shall be
deemed to confer authority to demand or join in demanding a
poll.
(3) The Proxy Form shall be deposited with the Company's Share
Registrars, Messrs Shareworks Sdn Bhd (formerly known as Panama
Resources Sdn Bhd), 23, Jalan Sri Hartamas 7, Sri Hartamas,
50480 Kuala Lumpur, not less than 48 hours before the time
appointed for holding the meeting or any adjournment thereof.
Copy To: Securities Commission
CONTACT:
FCW Holdings Berhad
Jalan Segambut
Kuala Lumpur, SELANGOR DARUL EHSAN 51200
Malaysia
Phone: +60 3 4043 9266
Fax: +60 3 4043 6750
GADANG HOLDINGS: Unveils Shares Option Scheme
---------------------------------------------
Gadang Holdings Berhad's additional 995,500 new ordinary shares
of RM1.00 each issued as follows:
(i) 876,500 new ordinary shares arising from the converion of
RM1,106,000 irredeemable convertible unsecured loan stocks into
876,500 new ordinary shares (conversion); and
(ii) 119,000 new ordinary shares issued pursuant to the
employees' share option scheme will be granted listing and
quotation with effect from 9 a.m., Tuesday, 23 November 2004.
CONTACT:
Gadang Holdings Berhad
52, Jalan Tago 2
Jalan Persiaran Utama
Sri Damansara
52200 Kuala Lumpur, WP
Malaysia
Phone: 603-6356888
Fax: 603-6365560
GOLDEN FRONTIER: Purchases 1,000 Ordinary Shares On Buy Back
------------------------------------------------------------
Golden Frontier Berhad announced the details of its shares buy
back on November 19, 2004.
Date of buy back: 19/11/2004
Description of shares purchased: Ordinary Shares of RM1.00 Each
Total number of shares purchased (units): 1,000
Minimum price paid for each share purchased (RM): 0.685
Maximum price paid for each share purchased (RM): 0.685
Total consideration paid (RM): 698.28
Number of shares purchased retained in treasury (units): 1,000
Number of shares purchased which are proposed to be cancelled
(units): 0
Cumulative net outstanding treasury shares as at to-date
(units): 1,219,600
Adjusted issued capital after cancellation (no. of shares)
(units):
CONTACT:
Golden Frontier Berhad
No 11 Lorong Kinta
10400 Penang,
Malaysia
Phone: +60 4 226 2226
Fax: +60 4 228 2890
GULA PERAK: Lists Additional Shares
-----------------------------------
Gula Perak Berhad's additional 86,400 new ordinary shares of
RM1.00 each issued pursuant to the Conversion of 86,400
irredeemable convertible secured loan stocks 2000/2005 into
86,400 new ordinary shares (conversion) will be granted listing
and quotation with effect from 9 a.m., Tuesday, 23 November
2004.
CONTACT:
Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Telephone: 03-4044 2828
Fax: 03-4044 6688
This announcement is dated 19 November 2004
HOTLINE FURNITURE: Auditor Completes Investigative Audit
--------------------------------------------------------
Reference is made to the announcement dated 26 July 2004 by
Public Merchant Bank Berhad, on behalf of Hotline Furniture
Berhad (HFB) and Mahajaya Berhad (Mahajaya) in relation to the
approval from the Securities Commission (SC) on the extension of
time until 21 November 2004, sought by the independent
investigative auditor, Messrs PKF, Chartered Accountants, to
complete the Investigative Audit.
The Board of Mahajaya, on behalf of the Board of HFB, announced
that Messrs PKF has completed the Investigative Audit and two
(2) copies of the Investigative Audit Report (IAR) have been
submitted to the SC on even date.
The summary of the audit findings (as extracted from the IAR),
which contributed to the previous losses of the HFB Group for
the financial years ended 31 May 1998 to 2003 are attached
herewith as per Appendix A at
http://bankrupt.com/misc/tcrap_hotlinefurniture112204.doc
The Board of HFB will review and examine the past losses that
were incurred, the findings of the Investigative Audit in detail
and will take appropriate measures, where possible, to recover
the past losses that were incurred.
MBF HOLDINGS: Releases Litigation Update
----------------------------------------
MBf Holdings Berhad refers to its announcements on 18 October
2004 and 19 October 2004 pertaining to the Kuala Lumpur High
Court Suit No.D3-22-1497-2004 MBf Holdings Berhad (MBfH) & 4 Ors
(the Plaintiffs) vs MBf Leasing Sdn Bhd (the Defendant)
MBfH announced that the Defendant had on 18 November 2004 served
a Writ of Summons and Statement of Claim on the Company and the
following parties who are the plaintiffs in the above suit:
1) MBf Trading Sdn Bhd via Kuala Lumpur High Court Suit No: D7-
22-1547-2004 in respect of:
a) amounts alleged as owing to the Defendant in aggregate of
RM14,603,477.84 as at 31 August 2004, together with interest
thereon at 14.75% per annum (or such other rates as the
Defendant may from time to time in its absolute discretion
decide) from 1 September 2004 till the date of full settlement;
b) additional confirming fees accruing thereon at rate of 0.5%
per week from 1 September 2004 till the date of full settlement;
c) costs ; and
d) such further or other relief as may be ordered by the Court.
2) MBf Automobile Sdn Bhd via Kuala Lumpur High Court Suit No :
D5-22-1573-2004 in respect of:
a) amount of RM13,149,454.23 as at 31 August 2004 alleged as
owing, together with interest thereon at 14.75% per annum (or
such other rates as the Defendant may from time to time in its
absolute discretion decide) from 1 September 2004 till the date
of full settlement;
b) alleged additional confirming fees accruing thereon at rate
of 0.5% per week from 1 September 2004 till the date of full
settlement;
c) costs ; and
d) such further or other relief as may be ordered by the Court.
All material facts and information pertaining to the above had
been disclosed in MBfH's announcements dated 18 October 2004 and
19 October 2004.
The solicitors for the Company, MBf Trading Sdn Bhd and MBf
Automobile Sdn Bhd are under instruction to strenuously resist
the new suits.
Yours faithfully,
For and on behalf of
MBf Holdings Berhad
John Ding
Company Secretary
Date: 19 November 2004
CONTACT:
MBF Holdings Berhad
Suite 1501B Menara Choy Fook On
1B Jalan Yong Shook Lin, Section 7
46050 Petaling Jaya
Telephone: 03-7955 9937
Fax: 03-7956 2812
Web site: http://www.federal-furniture.com
METROPLEX BERHAD: Unit Faces Winding Up Proceedings
---------------------------------------------------
Further to its announcement dated 5 November 2004 and 10
November 2004 in relation to the winding-up petition served on
Metroplex Berhad's 59.99% owned subsidiary, Legend International
Resorts Limited (LIR), the Board of Directors of MB announced
that a winding-up petition has also been served on MB on 17
November 2004 as Guarantor pursuant to a Guarantee dated 22 July
1997 (the Guarantee). The details are as follows:
1. Date of Petition Served
The winding-up petition was presented at the Kuala Lumpur High
Court on 2 November 2004 and the Petition was served on MB on 17
November 2004 by Messrs Shearn Delamore & Co., the solicitors
for Morgan Stanley Emerging Markets Inc. ("the Petitioner"). The
hearing date for the winding-up petition is fixed on 12 January
2005.
2. Particulars of Claim
The Petitioner has claimed for a sum of US$5,236,020.54
calculated as at 29 October 2004 together with continuing
interest thereon to be paid by 1 November 2004.
3. Details of Alleged Default
(i) Pursuant to a Facility Agreement dated 22 July 1997 (the
Agreement), Societe Generale Asia (Singapore) Limited (the
Agent) and various financial institutions (the Lenders) had
granted to LIR a Revolving Credit Facility of US$33 million (the
Facility).
(ii) Pursuant to the Guarantee, MB agreed to unconditionally and
irrevocably guarantee, as a continuing obligation, the due and
punctual payment of all and such sums (whether principal,
interest, fees or otherwise) which are or at any time may become
payable by LIR pursuant to the Facility.
(iii) LIR had subsequently defaulted with its payment
obligations under the Facility.
(iv) On 3 January 2000, the Agent on behalf of the Lenders had
demanded from MB the payment of US$26,375,458.93 under the
Facility pursuant to the Guarantee calculated as at 7 December
1999.
(v) On 8 February 2002, one of the Lenders, Keppel TatLee Bank
Limited, Labuan Branch (Keppel) purportedly transferred 100% of
its commitment and/or its participation (as defined in the
Facility) and the corresponding benefit of the Guarantee to
Overseas-Chinese Banking Corporation Limited, Labuan Branch
(OCBC).
(vi) On 3 September 2004, OCBC purportedly transferred 100% of
its commitment and/or its participation (as defined in the
Facility) and the corresponding benefit of the Guarantee to the
Petitioner.
(vii) On 29 October 2004, the Petitioner through its solicitors
had demanded US$5,236,020.54 together with continuing interest
thereon from MB but MB has not paid the said sum.
4. The financial and operational impact on the Group
In the event the winding-up petition succeeds, the Company will
be put into liquidation.
5. The expected losses, if any
Not applicable.
6. The steps taken or proposed to be taken by MB
MB is currently in negotiations with its lenders on the Proposed
Composite Schemes of Arrangement (Proposed Scheme) under Section
176 (10) of the Companies Act, 1965 to resolve its debts.
The Restraining Order (RO) obtained by MB under Section 176(10)
of the Companies Act, 1965 had expired on 21 October 2004.
To facilitate the finalization of the Proposed Scheme, MB had
announced on 3 November 2004 that the High Court of Malaya has
adjourned MB's application for further extension of the RO for
hearing from 3 November 2004 to 29 November 2004.
Meanwhile, MB has instructed its solicitors to oppose the
winding-up petition.
7. Summons for appointment of Provisional Liquidators
Pursuant to the petition to wind up the Company, the Petitioner
has also filed a Summons for appointment of provisional
liquidators for MB which was also served on MB on 17 November
2004. The hearing of the Summons has been fixed on 26 November
2004. MB has instructed its solicitors to oppose the application
to appoint provisional liquidators for MB.
CONTACT:
Metroplex Berhad
1st Floor Wisma Equity
150 Jalan Ampang
50450 Kuala Lumpur,
Malaysia
Telephone: 03-2618911
This announcement is dated 19 November 2004.
POS MALAYSIA: Issues Notice of Resale
-------------------------------------
POS Malaysia & Services Holdings Berhad disclosed to the Bursa
Malaysia Securities Berhad the details of its shares buy back on
September 11, 2004.
Date of transaction: 19/11/2004
Total number of treasury shares sold (units): 60,000
Total number of treasury shares cancelled (units):
Minimum price paid for each share sold (RM): 2.600
Maximum price paid for each share sold (RM): 2.610
Total amount received for treasury shares sold (RM): 156,150.00
Cumulative net outstanding treasury shares as at to-date
(units): 37,678,000
Adjusted issued capital after cancellation/resale (no. of
shares) (units):
CONTACT:
Pos Malaysia & Services Holdings Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 2323
Fax: +60 3 2166 2266
RASHID HUSSAIN: Unveils FY04 Unaudited Quarterly Results
--------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Rashid
Hussain Berhad released its unaudited quarterly report for the
financial period ended September 30, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
30/09/2004 30/09/2003 30/09/2004 30/09/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
923,608 0 4,468,173 0
2 Profit/(loss) before tax
61,090 0 348,648 0
3 Profit/(loss) after tax and minority interest
-8,485 0 -22,922 0
4 Net profit/(loss) for the period
-8,485 0 -22,922 0
5 Basic earnings/(loss) per shares (sen)
-1.20 0.00 -3.20 0.00
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)
-2.6700 -2.7500
For more information, go to
http://bankrupt.com/misc/tcrap_rashid12004.xls
CONTACT:
Rashid Hussain Berhad
Level 9, Tower One,
RHB Centre,
Jalan Tun Razak,
50400 Kuala Lumpur
Phone: 03-92852233
Fax: 03-92855522
Web site: http://www.rhb.com.my
=====================
P H I L I P P I N E S
=====================
DIGITAL TELECOMMUNICATIONS: Clarifies Subscriber Report
-------------------------------------------------------
Digital Telecommunications refers to the news article entitled
"Sun Cellular breaches 1 million subscriber mark" published in
the November 19, 2004 issue of the BusinessWorld (Internet
Edition).
The article reported, "Sun Cellular, the mobile phone brand of
the Gokongwei-led Digital Telecommunications Philippines, Inc.
(Digitel) finally breached the one-million mark in subscriber
base. This is earlier than the firm's estimated time frame of
hitting one million by December. `We have exceeded whatever we
promised. We are way beyond one million,' said Victor Janolino,
Vice-president for usage-marketing."
Digital Telecommunications Philippines, Inc. (DGTL), in its
letter to the Philippine Stock Exchange dated November 22, 2004,
confirmed that:
"Sun Cellular has breached the 1 million subscriber mark."
In a recent TCR-AP report, Digital Telecommunications
Philippines Inc. (Digitel) incurred a net loss of Php384.7
million in the third quarter ended September 30, versus a net
loss of 244.2 million a year earlier.
Digitel launched its mobile service in March 2003 under the
brand name Sun Cellular. It expects the mobile operations to
start making profits in their third year.
CONTACT:
Digital Telecommunications Inc.
Digitel Building
110 E. Rodriguez Jr. Avenue
110 Bagumbayan, Quezon City
Telephone Number: 397-8888
Fax Number: 635-6142
Email Address: pamintuan_b@ditsi.com.ph
Web site: http://www.digitelone.com
MANILA ELECTRIC: US$228-Mln Refinancing Deal Boosts Napocor Bid
---------------------------------------------------------------
The successful renegotiation by the Manila Electric Co.
(Meralco) for the refinancing of some US$228 million in loans
with creditor banks is a major boost to the government's bid to
privatize the generation assets of the National Power Corp.
(Napocor), the Philippine Star reports, citing Energy Secretary
Vincent Perez.
Mr. Perez said the refinancing deal has positive implications
because potential bidders for Napocor's generation assets value
the much-enhanced credit worthiness of Meralco, the biggest
customer of the state-owned firm.
Some 30 banks from the Philippines, Australia, Austria, China,
France, Germany, India, Japan, Singapore, Taiwan and the United
States agreed to stretch Meralco loans maturing in 2004 to 2006
to a term of seven years, or up to 2011.
CONTACT:
Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Telephone Numbers: 16220 (TL); 633-4553 (Corp. Sec.)
Fax Number: 631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph
MONDRAGON LEISURE: Asks Court To Rule On Mimosa Asset Sale
----------------------------------------------------------
The Mondragon Leisure and Resorts Corporation has asked the
Supreme Court to solve the dispute over the privatization of the
Mimosa Leisure Parks in Clark Field Pampanga, reports the
Business World.
Mondragon said the Court should resolve the case immediately as
Emmanuel Y. Angeles, the President and Chief Executive of Clark
Development Corporation (CDC), "is bent on pushing through with
what it termed as the 'privatization' of Mimosa." He added that
if the privatization pushed through, the case would then be
rendered unresolved.
In February 1994, CDC entered into a lease agreement with
Mondragon for the development of Mimosa. The deal was however
terminated in 1998 for "various and continuous violations of
[Mondragon] in the terms and conditions of the lease agreement."
In June 1999, both parties inked a compromise agreement where
Mondragon agreed to pay back rentals, return certain leased
properties and construct a water park, hotel and additional
casinos. But since Mondragon failed to meet the deal's terms,
the compromise deal was terminated and CDC took over the
property. CDC said the takeover of the property was pursuant to
a writ of execution.
Mondragon owes CDC over PhP1.28 billion as of July 31, 2003.
CONTACT:
Mondragon International Philippines Inc.
Penthouse, Mondragon House
324 Sen. Gil J. Puyat Ave., Makati City
Phone: 818-1506 to 09
Fax: 810-7584
Auditor: Virgilio R. Santos & Company
Transfer Agent: Rizal Commercial Banking Corporation
NATIONAL POWER: Energy Sales Up 4.5% in Third Quarter
-----------------------------------------------------
The National Power Corporation (Napocor) recorded a 4.56-percent
increase in energy sales to 27,489.53 gigawatt-hour (GWh) in the
third quarter ended September, slightly higher than the state-
owned power firm's earlier forecast, the Business World reports.
The state-owned utility attributed the improvement to higher
sales in all of the country's three major grids such as
cooperatives, power utilities, and industries.
The Luzon grid accounted for the biggest share of total energy
sales at 65.56% or 18,022.92 GWh. Energy sales in Luzon which
rose by 3.45% from last year's 17,422.19 GWh, is attributed to
higher purchases by the Manila Electric Co.
CONTACT:
National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax: +63-2921-2468
=================
S I N G A P O R E
=================
CAPITALAND LIMITED: Notes Change in Shareholder's Interest
----------------------------------------------------------
Capitaland Limited released a notice on November 19, 2004 at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of the Interest of ST Property Investments Pte
Ltd (STPI).
Part I
(1) Date of notice to issuer: November 19, 2004
(2) Name of Substantial Shareholder: ST Property Investments Pte
Ltd (STPI)
(3) Please tick one or more appropriate box(es):
Notice of a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Part III and IV)
Part II
(1) Date of change of [Select Option]
(2) Name of Registered Holder
(3) Circumstance(s) giving rise to the interest or change in
interest [Select Option]
- Please specify details
(4) Information relating to shares held in the name of the
Registered Holder
No. of [Select Option] held before the change
As a percentage of issued share capital %
No. of N.A. which are 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 N.A. held after the change
As a percentage of issued share capital %
Part III
(1) Date of change of Interest: November 18, 2004
(2) The change in the percentage level From 13.01 % To 13.01 %
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
- Please specify details On 18 November 2004, STPI lent
4,000,000 ordinary shares at par value of S$1.00 in the capital
of CapitaLand to Citigroup Global Markets Limited pursuant to a
Novation Agreement dated 3 November 2004 entered among Singapore
Technologies Pte Ltd, STPI and Citigroup, which is supplemental
to a Global Master Securities Lending Agreement dated 6 October
2003 entered into between STPL and Citigroup in relation to
shares of CapitaLand on the issue of S$451,000,000 1.08 Per
Cent. Guaranteed Exchangeable Notes Due 2010 by ST Treasury
Services Ltd.
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions: N.A.
(1) There was a loan of 4,000,000 CapitaLand Shares on 18
November 2004 as described in item 3 above.
(2) This notice is a result of a change in interest, not a
change in the percentage level.
Part IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
Direct Deemed
No. of shares held before the change 295,435,238 32,909,600
As a percentage of issued share capital 11.71% 1.30%
No. of shares held after the change 291,435,238 36,909,600
As a percentage of issued share capital 11.55% 1.46%
Footnotes % of share capital is based on 2,523,504,160 issued
shares as at 18 November 2004.
Submitted by:
Ng Chooi Peng
Assistant Company Secretary
DATACRAFT ASIA: Posts Executive's Info
--------------------------------------
Datacraft Asia Ltd submitted an announcement to the Singapore
Stock Exchange on November 19, 2004 pertaining to the person
occupying managerial positions who are related to a director.
Name: Stephen Michael Joubert
Age: 46
Family relationship with any director, CEO and/or substantial
shareholder: Brother-in-law to Jeremy John Ord, a Director of
Datacraft Asia Ltd.
Current position and duties, and the year the position was first
held: Alternate Director to Josua Malherbe, a Non-executive
Director of Datacraft Asia Ltd since 2004
Details of changes in duties and position held, if any, during
the year: Nil
Submitted by:
Chew Puay Hoon
Assistant Company Secretary
ECOWISE HOLDINGS: Appoints Executive Director
---------------------------------------------
Ecowise Holdings Limited released details on newly appointed
Executive Director Teoh Teik Kee at the Singapore Stock Exchange
on November 19, 2004.
Date of Appointment: November 19, 2004
Name: Teoh Teik Kee
Age: 45
Country of principal residence: Singapore
Whether appointment is executive, and if so, area of
responsibility: Executive Appointment, Corporate Development And
Operation Management
Job Title: Executive Director
Working experience and occupation(s) during the past 10 years:
As Per Attachment
Shareholding in the listed issuer and its subsidiaries: None
Family relationship with any director and/or substantial
shareholder of the listed issuer or of any of its principal
subsidiaries: None
Conflict of interest: None
Other Directorship:
- These fields are not applicable for announcements of
appointments pursuant to Rule 704(9)
Past (for the last five years): As Per Attachment
Present As Per Attachment
Information required under Rule 704(7)(h)
Disclose the following matters concerning a director, chief
executive officer, general manager or other executive officer of
equivalent rank. If the answer to any questions is "yes", full
details must be given.
(a) Whether at any time during the last 10 years, a petition
under any bankruptcy laws of any jurisdiction was filed against
him or against a partnership of which he was a partner? No
(b) Whether at any time during the last 10 years a petition
under any law of any jurisdiction was filed against a
corporation of which he was a director or key executive for the
winding up of that corporation on the ground of insolvency? No
(c) Whether there is any unsatisfied judgment against him? No
(d) Whether he has ever been convicted of any offence, in
Singapore or elsewhere, involving fraud or dishonesty which is
punishable with imprisonment for 3 months or more, or has been
the subject of any criminal proceedings (including any pending
criminal proceedings which he is aware of) for such purpose? No
(e) Whether he has ever been convicted of any offence, in
Singapore or elsewhere involving a breach of any law or
regulatory requirement that relates to the securities or futures
industry in Singapore or elsewhere, or been the subject of any
criminal proceedings (including any pending criminal proceedings
which he is aware of) for such breach? No
(f) Whether at any time during the last 10 years, judgment has
been entered against him in any civil proceedings in Singapore
or elsewhere involving a breach of any law or regulatory
requirement that relates to the securities or futures industry
in Singapore or elsewhere, or a finding of fraud,
misinterpretation or dishonesty on his part, or he has been the
subject of any civil proceedings (including any pending civil
proceedings which he is aware of involving an allegation of
fraud, misinterpretation or dishonesty on his part)? No
(g) Whether he has ever been convicted in Singapore or elsewhere
of any offence in connection with the formation or management of
any corporation? No
(h) Whether he has ever been disqualified from acting as a
director of any corporation, or from taking part directly or
indirectly in the management of any corporation? No
(i) Whether he has ever been the subject of any order, judgment
or ruling of any Court, tribunal or governmental body,
permanently or temporarily enjoining him from engaging in any
type of business practice or activity? No
(j) Whether he has ever, to his knowledge, been concerned with
the management or conduct, in Singapore or elsewhere, of the
affairs of:
(i) any corporation which has been investigated for a
breach of any law or regulatory requirement governing
corporations in Singapore or elsewhere;
(ii) any corporation or partnership which has been
investigated for a breach of any law or regulatory requirement
that relates to the securities or futures industry in Singapore
or elsewhere, in connection with any matter occurring or arising
during the period when he was so concerned with the corporation
or partnership? No
I-ENABLE HOLDINGS: Winding Up Hearing Set November 26
-----------------------------------------------------
Notice is hereby given that a Petition for the winding up of I-
Enable Holdings Pte Ltd by the High Court was, on the 1st day of
November 2004, presented by Ecna Pte Ltd of 10 Anson Road, #27-
18 International Plaza, Singapore 079903, a creditor.
The said Petition will be heard before the Court sitting at the
High Court at 10:00 o'clock in the forenoon on Friday, the 26th
day of November 2004.
Any creditor or contributory of the Company desiring to support
or oppose the making of an order on the said Petition may appear
at the time of hearing by himself or his counsel for that
purpose. A copy of the Petition will be furnished to any
creditor or contributory of the Company requiring the copy of
the Petition by the undersigned on payment of the regulated
charge for the same.
The Petitioner's address is at 10 Anson Road, #27-18
International Plaza, Singapore 079903.
The Petitioner's solicitors are Messrs Robert Wang & Woo LLC,
Advocates and Solicitors, of No. 9 Temasek Boulevard, #32-01
Suntec Tower 2, Singapore 038989.
Messrs Robert Wang & Woo Llc
Solicitors for the Petitioners
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
Messrs Robert Wang & Woo Llc, notice in writing of his intention
to do so. The notice must state the name and address of the
person, or, if a firm, the name and address of the firm, and
must be signed by the person or firm, or his or their solicitors
(if any) and must be served, or, if posted, must be sent by post
in sufficient time to reach the above named not later than 12
p.m. on the 25th day of November 2004.
This Singapore Government Gazette notice is dated November 19,
2004.
===============
T H A I L A N D
===============
BANGKOK RUBBER: SET Suspends Trading of Securities
--------------------------------------------------
Bangkok Rubber Public Company Limited (BRC) has submitted to the
SET its reviewed financial statements for the period ending 30
September 2004.
As the Company's auditor was unable to reach any conclusion on
the financial statements, it can be considered that the numbers,
which represent the Company's financial status and operating
outcome as presented in its financial statements, failed to
adequately and/or properly reflect the actual position of the
Company.
Due to these discrepancies, the Securities and Exchange
Commission (SEC) is considering requiring that the Company amend
its financial statements on the issues raised by its auditor.
Therefore, the SET has posted an SP (Suspension) sign to suspend
trading on the securities of BRC effective from the first
trading session of 15 November 2004 to enable shareholders and
general investors to have sufficient time to scrutinize an
auditor's report on the review of its financial statements.
The SET will post an NP (Notice Pending) sign effective from the
first trading session of 16 November 2004 until the Company has
the opportunity to submit its amended financial statements or
the SEC concludes that it will not be necessary to amend its
financial statements.
However, the SET has still suspended trading on the securities
of BRC in view of the fact that the Company must prepare a
rehabilitation plan.
CONTACT:
Bangkok Rubber Public Company Limited
611/40 Soi Raj-Utit 2, Bangkhlo, Yan Nawa Bangkok
Telephone: 0-2689-9500
Fax: 0-2291-1353
Web site: www.pan-group.com
CENTRAL PAPER: Request for Postponement of Meeting Approved
-----------------------------------------------------------
Central Paper Industry Public Company Limited (CPICO), as the
rehabilitative planner, and Thai Assets Management Corporation
(TAMC) advised the Stock Exchange of Thailand that it issued a
request for the postponement of its creditors' meeting to vote
for the business rehabilitation plan due to the correction of
the substances of the said plan.
The Legal Execution Officer considered and decided to postpone
the meeting and set the creditors' meeting to vote for the
business rehabilitation plan again on December 3rd 2004 in order
to the benefit and the correction of the rehabilitation plan.
Yours Sincerely
(Mr.Parkpoom Sitthiprasert)
Rehabilitative planner of
Central Paper Industry Company Limited
CONTACT:
Central Paper Industry Public Company Limited
40 Moo 13 Sukhaphiban 6 Road,
Phra Pra Daeng Samut Prakarn
Telephone: 0-2383-0257-70
Fax: 0-2383-0208-9
NAKORNTHAI STRIP: Unveils Reviewed, Consolidated 3Q FS
------------------------------------------------------
Nakornthai Strip Mill Public Company Limited (NSM) submitted to
the Stock Exchange of Thailand (SET) its reviewed quarterly
financial statements.
Nakornthai Strip Mill Public Company Limited
Reviewed Ending September 30 (In thousands)
Quarter 3 For 9 Months
Year 2004 2003 2004 2003
Net profit (loss) 109,154 791,306 (288,121) 1,891,714
EPS (baht) 0.01 1.10 (0.03) 2.63
Type of report: Unqualified Opinion with an emphasis of matters
Comment: (1) Please see details in financial statements,
auditor's report and remarks from SET Information Management
System.
"The Company hereby certifies that the information above is
correct and complete. In addition, the Company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."
(Mr. Sawasdi Horrungruang)
Director
Authorized to sign on behalf of the Company
For more information, click
http://bankrupt.com/misc/nsme1.doc
http://bankrupt.com/misc/nsme2.xls
http://bankrupt.com/misc/nsme3.doc
CONTACT:
Nakornthai Strip Mill Public Company Limited
U.M. Tower, Floor 19,
9 Ramkhamhaeng Road,
Suan Luang, Bangkok
Telephone: 0-2719-9800-9, 0-2719-9830-2
Fax: 0-2719-9828
PRASIT PATANA: Issues Report on Subsidiaries' Performance
---------------------------------------------------------
Prasit Patana Public Company Limited submitted to the Stock
Exchange of Thailand (SET) the explanation on its subsidiaries'
performance and Financial Analysis For the nine-month period
ended September 30, 2004.
(1) Performance according to Business Plan
The Company did not disclose its future business plan.
(2) Operational Performance
(2.1) Overall Picture of Past performance
The Company and its subsidiaries generated net operational
revenue for the nine-month period ended September 30,2004 of
THB2,471.69 million in comparison with net operational revenue
for the nine-month period ended September 30,2003 of THB2,265.78
million, an increase of THB205.91 million or 9.09 percent.
Cost of Services of the Company and its subsidiaries for each of
the nine-month periods ended September 30,2004 and 2003 were
THB1,715.81 million and THB1,708.69 million respectively, an
increase of THB7.12 million or 0.42 percent.
General and administrative expenses of the Company and its
subsidiaries for each of the nine-month periods ended September
30, 2004 and 2003 were THB349.59 million and THB412.39 million
respectively, decrease of THB62.80 million or 15.23 percent.
The level of competition in the private healthcare industry is
intense. In general, major healthcare providers and private
hospitals have clear target markets. Our group has employed a
marketing strategy focused on and emphasizing quality of patient
care and international healthcare standards.
There were no significant effects on the companies' operating
results arising from exchange rate movements. The companies did
not trade internationally and all revenues were earned in Thai
currency. Similarly, there were no significant operating
expenses incurred that are in foreign currencies.
(2.2) Past Performance of Each Product Line
The Company and its subsidiaries' only business are in
healthcare business.
On the 18th of July 2003, the Company converted debts into
equity. The Company was granted a petition from the Ministry of
Commerce to increase its registered capital from THB866,023,760
to THB4,330,118,800 to accommodate the debt to equity conversion
for the Company and its subsidiaries financial creditors and the
subsidiaries' construction creditors for the total of 46,409,504
shares. On 29th September 2003, the Central Bankruptcy Court
granted the exit petition from the rehabilitation period.
The Company appointed the new Board of Directors in place of the
Plan Administrator whose authorities ceded at that time.
- Revenue from Service
The Company and its subsidiaries had revenue from service
provided for each of the nine-month periods ended September 30,
2004 and 2003 of THB2,471.69 million and THB2,265.78 million
respectively, an increase of THB205.91 million or 9.09 percent
resulting from the increase of inpatient and outpatients volumes
from one subsidiary, the increase of product and service price
and have additional service fee in the nine-month period ended
September 30, 2004.
- Revenues from Management Fee
Revenues from management fee from one related Company for each
of the nine-month periods ended September 30,2004 and 2003 was
THB7.43 million and THB5.30 million respectively, an increase of
THB2.13 million or 40.19 percent, resulting from an increase in
revenues from management fee of a related Company as calculated
from the percentage of its operational income as specified in
the management contract for a 10 years period.
In addition, on August 2,2004, the Company has entered into a
hospital business agreement co-operation agreement with a
related Company whereby the Company agrees to assist and advise
relating to the procurement of medicine and medical supplies and
the usage of medical equipment and medical service, etc. The
Company has the right to receive an assistant fee as indicated
in the agreement. The term of this agreement is 1 year and is
automatically renewable for succeeding periods every year until
terminated by either party by giving advance written notice 90
days prior to the expiry date of the agreement.
- Interest Income
The interest income for the nine-month period ended September
30, 2004 was interest income from financial institution,
decrease in comparison with the same period of 2003 due to in
2003, was a result of realized interest income among
subsidiaries. The repayment of this loan is made from refinance
on December 9,2003.
- Other Revenues
The Company and its subsidiaries generated other revenues for
each of the nine-month periods ended September 30,2004 and 2003
of THB74.68 million and THB71.02 million respectively, an
increase of THB3.66 million or 5.15 percent due mainly to the
subsidiaries had dividend income from a associated Company in
June 2004 amounting to THB5 million.
- Cost of services
The Company and its subsidiaries incurred cost of services for
each of the nine-month periods ended September 30,2004 and 2003
of THB1,715.81 million and THB1,708.69 million respectively an
increase of THB7.12 million or 0.42 percent.
Cost of service to service income ratio was 69.42 percent and
75.41 percent for the nine-month periods ended September 30,2004
and 2003 respectively. It was decreasing because subsidiary
companies had increased price of products and services. In
addition, the management has put more control on inventory
management and centralized purchasing to have more bargaining
power. And for salary, the Company reorganized employees to
maximize efficiency. The salary and overtime for the nine-month
period ended September 30, 2004 and 2003 were THB337.89 million
or 13.67 percent of service income and THB357.57 million or
15.78 percent of service income respectively.
- General and administrative expenses
The Company and its subsidiaries incurred general and
administrative expenses for each of the nine-month periods ended
September 30,2004 and 2003 of THB349.59 million and THB412.39
million respectively, decrease of THB62.80 million or 15.23
percent. The significant increase and decrease transactions were
as follows:
- In the nine-month period ended September 30,2003 the Company
and its subsidiaries had the restructuring expense of THB53.64
million and the implementation of the rehabilitation plans has
been complete in September 2003, so there was no such expense in
2004.
- The Company and its subsidiaries had the salary and overtime
for each of the nine-month periods ended September 30,2004 and
2003 of THB137.74 million and THB152.03 million respectively,
decrease of THB14.29 million due to the Company reorganized
employees to maximize efficiency.
- The subsidiaries had the mortgage fee of machineries,
according to a financial support agreement for refinance in May
2003 amounting to THB7.49 million.
- In September 2004, the subsidiaries wrote off unused assets
amounting to THB7.42 million.
- The subsidiaries had increased in the advertising and
promotion expenses amounting to THB3.46 million.
- Net profit of Minority Interest
The Company incurred net profit of minority interest for each of
the nine-month periods ended September 30, 2004 and 2003 of
THB472.25 million and THB293.26 million respectively, increase
of THB178.99 million or 61.03 percent. It was increasing
because the management has opinion on the certainty of the
continuation of investing in its subsidiaries then the financial
statements recognized the capital deficiency of minority
interest in this period in contrast to previously recognizing
according to the percentage of holding due to the subsidiaries
have capital deficiency.
- Dividend Policy
The Company will pay dividend to shareholders with the approval
of the Board of Directors and is related to the annual business
performance.
The dividend payment must also be approved by shareholders.
(3) Financial Status
(3.1) Assets
The Composition of the Assets
Total assets of the Company and its subsidiaries as at September
30, 2004 comprised of current and non-current assets, calculated
as a ratio of 22.25 percent and 77.75 percent respectively.
Current Assets of the Company and subsidiaries are composed of:
Cash and cash equivalents and S-T investment: 16.24 percent of
total assets
Trade receivables - net: 3.01 percent of total assets
Receivables from related parties - net: 0.22 percent of total
assets
Inventories: 1.95 percent of total assets
Other current assets: 0.83 percent of total assets
Long-term investments were 2.04 percent of total assets.
The majority of assets of the Company and its subsidiaries are
land, buildings and equipment which make up 73.97 percent of
total assets.
Other non current assets were 1.74 percent of total assets.
Quality of Assets
Quality of Receivables: Receivables of the Company and its
subsidiaries include significant amounts receivable from
healthcare insurance companies in respect of patient services.
Stringent payment conditions could result in claims being
delayed by the insurers. However, the companies made sufficient
provision for doubtful debts and have confidence in the quality
of receivables, net of provisions.
(3.2) Liquidity
The Company and its subsidiaries had net cash from operation for
the nine-month period ended September 30, 2004 of THB457.95
million and net cash used in investment activities in the same
period of THB468.87 million. The decreasing in cash from finance
activities were for repayment of short-term loans amounting
THB90.80 million. The Company and its subsidiaries had a net
decrease of cash and cash equivalent from December 31, 2003 of
THB101.72 million. The major reason for the decrease of cash and
cash equivalent is due to the increasing in promissory note
amounting to THB392.53 million.
As at September 30, 2004, the Consolidated Financial Statements
showed a current ratio of 1.68.
(3.3) Capital Expenditure
The annual capital expenditure budget of the Company and its
subsidiaries must be approved by Board of director and the
payment will be made for only authorized budget. However,
capital expenditure was evaluated according to projected return
on investment, business necessity, and contribution to business
goals and urgency.
(3.4) Source of funds
Liabilities
On 6th November, 2003, the Company and its subsidiaries have
entered into a financial support agreement with a local bank to
repay financial debts under rehabilitation plan and to use for
working capital totaling THB5,000 million.
CONTACT:
Prasit Patana Public Company Limited
943 Phahonyotin Road, Samsennai, Phaya Tai Bangkok
Telephone: 0-2617-2444
Fax: 0-2617-2463
Website: www.phyathai.com
SIAM AGRO: Names Authorize Director
-----------------------------------
The board of directors of The Siam Agro Industry Pineapple and
Others Public Company Limited at a meeting No. 6/2004 held on 12
November 2004 passed the resolution as follows:
Approved to include Mr. Hani El-Naffy, Chairman and Director of
the Board of Director of the Company into the list of the
authorized director and to be registered with the Ministry of
Commerce for the purpose of consistency with the Aritcles of
Association of the Company Article 11.
"Mr. Hani El Naffy, Chairman and Director or Mr. Praful Shah
Managing Director or any other two directors jointly sign with
the Company's seal affixed"
Praful Shah
Managing Director
CONTACT:
Siam Agro-Industry Pineapple And Others Pcl
Ocean Tower 2, Floor38,
75/105 Sukhumvit Road,
Watthana Bangkok
Telephone: 0-2661-7878
Fax: 0-2661-7865
Web site: www.saico.co.th
* BOND PRICING: For the Week 22 November to 26 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 8
Citigold Corp. 12.000% 3/29/07 1
Consolidated Minerals Ltd 11.250% 3/31/05 2
Djerriwarrh Investments Ltd 6.500% 9/30/09 4
Evans & Tate Ltd 8.250% 10/29/07 1
Fletcher Building Ltd 7.900% 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 7
Fernz Corp Ltd 8.560% 10/15/06 8
Futuris Corporation Ltd 7.000% 12/31/07 3
Gympie Gold Ltd. 8.500% 9/30/07 1
Hy-Fi Securities Ltd 7.000% 8/15/08 8
Hy-Fi Securities Ltd 8.750% 8/15/08 12
Hutchison Telecoms Australia 5.500% 7/12/07 1
Infrastructure and Utility 8.500% 9/15/13 8
NPT Capital Ltd 9.500% 11/30/04 10
Nuplex Industries Ltd 9.300% 9/15/07 7
Powerco Ltd 8.150% 9/01/07 8
Powerco Ltd 8.400% 5/22/07 10
Richmond Ltd 10.750% 12/15/04 11
Salomon Smith Barney Australia 4.250% 2/1/09 8
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 7
TrustPower Ltd 8.500% 9/15/12 8
TrustPower Ltd 8.500% 3/15/14 8
Urbus Properties Ltd 9.250% 3/10/07 1
Vision Systems Ltd 9.000% 12/15/08 2
CHINA
-----
China Government Bond 2.900% 5/24/32 68
KOREA
-----
Korea Electric Power Corporation 7.950% 4/1/96 74
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
Fountain View Development Sdn Bhd 3.500% 11/3/06 5
Furqan Business Organization 2.000% 12/19/05 1
Gadang Holdings Bhd 2.000% 12/24/08 1
Grand Central Enterprises Bhd 5.000% 2/17/05 1
Greatpac Holdings Bhd 2.000% 12/11/08 1
Gula Perak Bhd 6.000% 4/23/08 1
Hong Leong Industries Bhd 4.000% 6/28/07 1
I-Bhd 5.000% 4/30/07 1
Insas Bhd 8.000% 4/19/09 1
Integrax Bhd 3.000% 12/24/05 1
Killinghall Bhd 5.000% 4/13/09 1
Kretam Holdings Bhd 1.000% 8/10/10 1
Kumpulan 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 Bhd 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
POS Malaysia & Services Holdings Bhd 8.000% 11/26/04 1
Prinsiptek Corporation Bhd 2.000% 11/20/06 1
Puncak Niaga Holdings Bhd 2.500% 11/20/16 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 4
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.
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