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

                     A S I A   P A C I F I C

             Monday, December 6, 2004, Vol. 7, No. 241

                            Headlines

A U S T R A L I A

ADVANCED FLUID: To Declare Final Dividend on December 23
AG & K KIEM: Final Meeting Slated for December 10
ALLCO STEEL: Sets Final Meeting on December 7
ANNABEL VICTORIA: To Undergo Winding Up Proceedings
AUSTRALIAN NATIVE: To Declare Final Dividend on December 23

BRIDLINGTON NOMINEES: ASIC Permanently Bans Former Director
FEPIKA PTY: To Hold Final Meeting on December 7
JAMES HARDIE: Asbestos Fund Gets Reprieve
LONGFIELD HOLDINGS: Sets December 17 as Date of Final Meeting
NATIONAL AUSTRALIA: Issues New Medium Term Notes

NEWSAGENTS DIRECT: Final Meeting Slated Today
NOMMACK PTY: Members Resolve to Voluntarily Wind Up
PRIMELIFE CORPORATION: Lodges Supplementary Prospectus with ASIC
QANTAS AIRWAYS: Serves Australia-Shanghai Route
SANTOS LIMITED: Insurers Accept Moomba Incident Liability

SANTOS LIMITED: ASX Grants "Rollover FUELS" Waiver
SEALCORP SERVICES: To Hold Final Meeting Today
SENATOR SECURITY: To Declare Final Dividend on December 23
SKYRIDERS PTY: Final Meeting Set December 10
SLOTA PTY: Sets December 17 as Date of Final Meeting

CANBERRA CHURCHES: To Undergo Voluntary Winding Up


C H I N A  &  H O N G  K O N G

BLOCKBUSTER HONGKONG: Issues Notice To Creditors
CHINA AVIATION: Falling Into Heavy Losses
CHUNG MING: Court Appoints Committee of Inspection
CRAFT PROJECTS: Enters Bankruptcy Proceedings
ELECTRONIC WORLD: Bankruptcy Petition Hearing Set December 15

FANTASY-TOY INDUSTRIAL: Sets Winding-up Hearing Dec. 22
INTERNATIONAL MANUFACTURING: Sets Members, Creditors Meetings
TELHOPE INFORMATION: Court to Hear Bankruptcy Petition


I N D O N E S I A

GARUDA INDONESIA: Government Lays Out Rescue Options
PT TIMAH: Calls on DPR to Approve Divestment


J A P A N

ASSOCIANT TECHNOLOGY: TSE to Delist Shares Over Accounting Scam
JAPAN AIRLINES: Sells H.Q. to Nomura Real Estate
MISAWA HOMES: Seeks Financial Assistance from Toyota
MITSUBISHI FUSO: Aims to Get Trucks Approved by Year-end
MITSUBISHI MOTORS: Could Receive US$971-Mln Aid Package

RESONA HOLDINGS: Unit Extends Rehab Aid to Sankei


K O R E A

ASIANA AIRLINES: Battles with Korean Air on Flight Allocation
LG CARD: Card Issuers' Combined Losses Shrinks to KRW81.5 Tln


M A L A Y S I A

AKTIF LIFESTYLE: Aims to Regularize Financial Condition
AKTIF LIFESTYLE: Issues Default Status Update
ARTWRIGHT HOLDINGS: EGM Set For December 20
AYER HITAM: Updates Regularization Plan
CHG INDUSTRIES: Finalizes Debt Restructuring Scheme

C.I. HOLDINGS: Unveils Outcome of Legal Action
CONSOLIDATED FARMS: Default Status Unchanged
CYGAL BERHAD: Updates Restructuring Plan
FORESWOOD GROUP: SC Rejects Restructuring Exercise
GULA PERAK: Granted Listing of 17,400 Ordinary Shares

JIN LIN: SC Evaluates Restructuring Scheme
KEMAYAN CORPORATION: Releases Monthly Status Update
KILANG PAPAN: Seeks Restructuring Scheme Revisions
K.P. KENINGAU: No Update on Regularization Plan
K.P. KENINGAU: Answers Bursa Malaysia Query

LITYAN HOLDINGS: Releases Monthly Status Update
METROPLEX BERHAD: Appoints Provisional Liquidator
MYCOM BERHAD: Posts Monthly Status Update
NORTH BORNEO: Awaits Revised Scheme Approval
PROMTO BERHAD: Seeks Restructuring Scheme Approval


P H I L I P P I N E S

COLLEGE ASSURANCE: SEC Denies Petition To Withdraw Trust Fund
MAYNILAD WATER: To Hike Water Rates in January
METRO PACIFIC: Unveils Amended SEC Form 23-B
PHILIPPINE BANK: PBCom President Resigns, Transfers to HSBC


S I N G A P O R E

CAPITALAND LIMITED: Establishes Additional Indirect Subsidiary
CAPITALAND LIMITED: Confirms Reduction of Unit's Capital
CAPITALAND LIMITED: Posts Real Estate Forum Presentation
CHINA INFORMATION: Winding Up Order Made
DUBLINK MARKETING: Receives Winding Up Order

GENEMEDIX PLC: Submits 9-Month Interim Results
KLW HOLDINGS: Details Disposal, Leaseback of Property
LIANG HUAT: Posts Monthly Update on Financial Position
LNP ENGINEERING: Creditors to Submit Claims by December 28
MAPICS SINGAPORE: Creditors to Prove Debts by December 30

PANPAC MEDIA: CEO Koo Kok Wing Resigns
SUNSHINE INVESTMENTS: Creditors to Prove Debts by January 3
TRANS-UNITED CORP: Faces Liquidation Process
TRANSPARITY LIMITED: Issues Notice of Preferential Dividend
WANG COO-KIEN: Discloses AGM Resolutions

WEARNES THAKRAL: Receiving Proofs Until December 10
WEE POH: Presents Resolution of Ninth Annual General Meeting


T H A I L A N D

BANGKOK MASS: Considering SET Listing by 2005
JASMINE INTERNATIONAL: Details Exercise of Rights Warrants
TANAYONG: Reschedules Creditors' Meeting to December 21
THAI PETROCHEMICAL: PTT Agrees to Take 30% Stake

   -  -  -  -  -  -  -  -

=================
A U S T R A L I A
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ADVANCED FLUID: To Declare Final Dividend on December 23
--------------------------------------------------------
A first and final dividend is to be declared on the 23rd day of
December 2004 for Advanced Fluid Engineering Pty Limited (In
Liquidation) A.C.N. 083 593 542.

Creditors whose debts or claims have not already been admitted
were required on 23 November 2004 to formally prove their debts
or claims. If they have not, they would be excluded from the
benefit of the dividend.

Dated this 2nd day of November 2004

Danny Vrkic
Liquidator
Jirsch Sutherland & Co - Wollongong
Chartered Accountants
Level 3, 6-8 Regent Street,
Wollongong NSW 2500
Telephone: (02) 4225 2545,
Facsimile: (02) 4226 2546


AG & K KIEM: Final Meeting Slated for December 10
-------------------------------------------------
Notice is hereby given that a final meeting of members of AG & K
Kiem Pty Limited (In Liquidation) A.C.N. 002 117 802 will be
held at the office of Williamson Chaseling Pty Ltd, 21
Merewether Street Newcastle on the 10 December 2004 at 9:30 a.m.
for the purpose of receiving the Liquidators account showing how
the winding up has been conducted and the property of the
Company disposed of, and hearing any explanation which may be
given by the Liquidator.

Dated this 20th day of October 2004

William Keith Chaseling
Liquidator


ALLCO STEEL: Sets Final Meeting on December 7
---------------------------------------------
Notice is given that a final meeting of members of Allco Steel
Corporation Pty Limited (In Voluntary Liquidation) A.C.N. 000
889 592 will be held at Level 9, 10 Shelley Street, Sydney NSW
2000, on 7 December 2004 at 10:00 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the Company has been disposed of, and to receive any
explanation of the account.

Dated this 21st day of October 2004

M.C. Smith
Liquidator
McGrathNicol+Partners
Level 9, 10 Shelley Street,
Sydney NSW 2000
Telephone: 02 9338 2600


ANNABEL VICTORIA: To Undergo Winding Up Proceedings
---------------------------------------------------
Notice is hereby given that at a meeting of members of Annabel
Victoria Pty Limited A.C.N. 001 367 700 held on 19 October 2004,
the following special and ordinary resolutions respectively were
passed:

(1) That the Company be wound up as a members' voluntary
liquidation;

(2) That the assets of the Company may be distributed in whole
or in part to the members in specie should the Liquidator so
desire; and

(3) That John Vouris be appointed Liquidator of the Company.

The creditors of the Company are required within 35 days from
the date of this Notice to prove their debts or claims and to
establish any title they may have to priority by delivering or
sending through the post to the Liquidator at the address below,
a Proof of Debt verifying their respective debts or claims. In
default, they will be excluded from the benefit of any
distribution made before such debts or claims are proved or such
priority is established, and from objecting to any such
distribution.

Form of proof may be obtained from the undersigned.

Dated this 21st day of October 2004

John Vouris
Liquidator
Vouris & Bell
Chartered Accountants
Level 9, 4 O'Connell Street,
Sydney NSW 2000
Telephone: 9232 6800


AUSTRALIAN NATIVE: To Declare Final Dividend on December 23
-----------------------------------------------------------
A first and final dividend is to be declared on 23 December 2004
for Australian Native Produce Industries Pty Limited (In
Liquidation) A.C.N. 057 222 938.

Creditors whose debts or claims have not already been admitted
were required on or before 23 November 2004 to formally prove
their debts or claims. If they have not, they would be excluded
from the benefit of the dividend.

Dated this 2nd day of November 2004

Danny Vrkic
Liquidator
Jirsch Sutherland & Co Wollongong
Chartered Accountants
Level 3, 6-8 Regent Street,
Wollongong NSW 2500


BRIDLINGTON NOMINEES: ASIC Permanently Bans Former Director
-----------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
permanently banned Mr. Ramon Ronald Theodore Osborne, a former
director of Bridlington Nominees Pty Ltd, from providing
financial services.

ASIC banned Mr. Osborne after finding that he is insolvent under
administration, and that ASIC has reason to believe that he will
not comply with financial services laws in the future.

Mr. Osborne became bankrupt in 2003 after a successful
creditor's petition. ASIC was concerned that Mr. Osborne had
difficulties managing his own finances and would be unlikely to
provide competent financial services to another person.

In addition, ASIC found that Mr. Osborne had contravened various
provisions of the Superannuation Industry (Supervision) Act 1993
(SIS Act), while a director of Bridlington Nominees Pty Ltd
(Bridlington).

Between April 1999 and April 2004, Mr. Osborne was a director of
Bridlington, the trustee of the Osborne Superannuation Fund
(Fund). ASIC found the Fund was regulated by the SIS Act. Two of
Mr. Osborne's clients were the only members of the Fund.

ASIC was concerned that Mr. Osborne, as director of Bridlington,
contravened the SIS Act by:

(1) Investing members' money in an unauthorized manner;
(2) Failing to maintain proper accounting records; and
(3) Failing to have the Fund audited.

ASIC was also concerned that the Fund was not able to repay
about $140,000 contributed to the Fund by its members.

The Australian Prudential Regulation Authority has previously
taken action to have Bridlington removed as the trustee of the
Fund and to declare Mr. Osborne a disqualified person under the
SIS Act.

'It is essential that participants in the financial services
industry comply with all regulatory requirements and provide
financial services efficiently. The investing public must have
confidence that advisers will not put their clients' money at
risk or place themselves in positions where their own financial
interests conflict with the interests of their clients', ASIC's
Deputy Executive Director of Enforcement, Mr. Allen Turton said.

Mr. Osborne has the right to lodge an application with the
Administrative Appeals Tribunal for review of ASIC's decision.  


FEPIKA PTY: To Hold Final Meeting on December 7
-----------------------------------------------
Notice is given that a final meeting of members of Fepika Pty
Limited (In Voluntary Liquidation) A.C.N. 001 343 773 will be
held at Level 3, 63 Market Street, Wollongong, on 7 December
2004 at 10:00 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the Company has been disposed of, and to receive any
explanation of the account.

Dated this 19th day of October 2004

P.J. Fitzgerald
Liquidator
KPMG
Level 3, 63 Market Street,
Wollongong NSW 2500
Telephone: 4229 2633


JAMES HARDIE: Asbestos Fund Gets Reprieve
-----------------------------------------
James Hardie's Medical Research Compensation Foundation (MRCF)
has averted bankruptcy for now, says The Advertiser.

MRCF, the fund James Hardie Industries set up to handle its
asbestos liabilities, has won a temporary reprieve from
provisional liquidation after the New South Wales Supreme Court
agreed to adjourn its application until the end of January.

The move came after the foundation received an AU$88 million
offer from a former James Hardie subsidiary, ABN 60.

NSW Supreme Court Justice Peter Young said he believed the
Medical Research Compensation Foundation's (MRCF) request to
adjourn the matter was a "sensible" decision. He also offered to
extend MRCF directors' protection from being sued by future
asbestos victims.

MRCF Managing Director Dennis Cooper said asbestos victims now
have a temporary break from the threat of frozen or reduced
payments.

He added that the unions and James Hardie now have a date to
work towards in finding a solution to the longer term problem of
the AU$1.5 billion shortfall the MRCF will face once its money
runs out.

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 inquiries to CustomerLink Service Centre on 13 1103


LONGFIELD HOLDINGS: Sets December 17 as Date of Final Meeting
-------------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act 2001, a final meeting of members of Longfield
Holdings Pty Limited (In Liquidation) will be held at Level 19,
207 Kent Street on 17 December 2004 at 2:30 p.m. for the purpose
of having an account laid before them showing the manner in
which the winding up has been conducted and the property of the
Company disposed of and hearing any explanations that may be
given by the liquidator and also determining the manner in which
the books, accounts and documents of the Company and of the
liquidator shall be disposed of.

Dated this 22nd day of October 2004

S.A. Fittler
Liquidator
c/- HLB Mann Judd
Level 19, 207 Kent Street,
Sydney NSW 2000


NATIONAL AUSTRALIA: Issues New Medium Term Notes
------------------------------------------------
National Australia Bank (NAB) has on Friday launched a new
medium term note senior debt issue worth at least AU$350 million
(US$271.3 million), according to Asia Pulse.

The issue, consisting of both fixed and floating rate tranches,
will mature in January 15, 2010.

The floating rate tranche will be priced at 16-17 basis points
over the 90-day bank bill swap rate.

Pricing is expected to be on December 6, 2004 for settlement on
December 13, 2004.

NAB, which is rated AA-minus/Aa3 (stable) by Standard and Poor's
and Moody's respectively, has appointed Deutsche Bank, RBC
Capital Markets and UBS Investment Bank as co-managers for the
issue.

CONTACT:

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


NEWSAGENTS DIRECT: Final Meeting Slated Today
---------------------------------------------
Notice is given that a final meeting of members of Newsagents
Direct Distribution (NZ) Pty Limited (In Voluntary Liquidation)
A.C.N. 090 994 620 will be held at Level 9, 10 Shelley Street,
King Street Wharf, on 6 December 2004 at 10:00 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the Company has been disposed of, and to receive any
explanation of the account.

Dated this 21st day of October 2004

M.C. Smith
Liquidator
McGrathNicol+Partners
Level 9, 10 Shelley Street,
Sydney NSW 2000
Telephone: 9338 2666


NOMMACK PTY: Members Resolve to Voluntarily Wind Up
---------------------------------------------------
Notice is hereby given that at a meeting of members of Nommack
(No 156) Pty Limited A.C.N. 003 048 137 held on 19 October 2004
the following special and ordinary resolutions respectively were
passed:

(1) That the Company be wound up as members' voluntary
liquidation;

(2) That the assets of the Company may be distributed in whole
or in part to the members in specie should the Liquidator so
desire; and

(3) That John Vouris be appointed Liquidator of the Company.

The creditors of the Company are required within 35 days from
the date of this Notice to prove their debts or claims and to
establish any title they may have to priority by delivering or
sending through the post to the Liquidator at the address below,
a Proof of Debt verifying their respective debts or claims.

In default, they will be excluded from the benefit of any
distribution made before such debts or claims are proved or such
priority is established, and from objecting to any such
distribution.

Form of proof may be obtained from the undersigned.

Dated this 21st day of October 2004

John Vouris
Liquidator
Vouris & Bell
Chartered Accountants
Level 9, 4 O'Connell Street,
Sydney NSW 2000.
Telephone: 9232 6800


PRIMELIFE CORPORATION: Lodges Supplementary Prospectus with ASIC
----------------------------------------------------------------
This Supplementary Prospectus of Primelife Corporation Limited
dated 3 December 2004 was lodged with the Australian Securities
and Investments Commission (ASIC) on 3 December 2004. None of
ASIC, the ASX and their respective officers take responsibility
for the contents of this Supplementary Prospectus.

Extension to Exposure Period

On 30 November 2004 ASIC extended the exposure period for the
Prospectus being the period after lodgment of the Prospectus
within which Primelife must not accept an application for, or
issue the Converting Notes offered. In extending the exposure
period, ASIC identified 4 issues relating to disclosure included
in the Prospectus. The information set out in this Supplementary
Prospectus is provided by Primelife by way of clarification to
address the issues raised by ASIC.

Key Dates

As a result of the extension, the Closing Date is deferred to 10
December 2004. Completed Application Forms must be forwarded to
reach the Registry no later than 5.00pm EST 10 December 2004.

The following table sets out revised key dates in relation to
the Offer:

Prospectus lodged with ASIC and ASX:  24 November 2004
Expiry of exposure period: 8 December 2004
Closing date for lodgment of applications: 10 December 2004
Trading of Converting Notes expected to commence on ASX: 17
December 2004

The above dates are subject to change and are indicative only.
The Company reserves the right to amend this indicative
timetable including, subject to the Corporations Act and the
Listing Rules, to extend the closing date for receipt of
applications.

(1) Converting Note Terms

At the request of ASIC, Primelife provides the following
confirmation regarding the terms of issue of the Converting
Notes:

Maturity Date

The Converting Notes mature on the date 2 years from the date of
issue.

Interest

The Converting Notes bear interest at a rate of 9.5% per annum.
Primelife may elect to pay or capitalize any interest payment
due on an interest payment date. If Primelife elects to
capitalize an interest payment, Converting Noteholders will
receive additional Converting Notes in lieu of interest at an
issue price of $1.00 per Converting Note.

Clauses 2.1 and 2.2 of the terms of issue of the Converting
Notes have been amended to clarify that interest on the
Converting Notes compounds quarterly in arrears and may only be
capitalized on each interest payment date. Unless Primelife
elects to so capitalize interest, interest must be paid on each
interest payment date.

(2) Consequences of an Insolvency Event

On page 1 of the Prospectus and again in Section 6.3 of the
Prospectus, Primelife states that Converting Notes must be
redeemed on the occurrence of an Insolvency Event with respect
to Primelife.

On pages 18 and 26 of the Prospectus, Primelife states that
Converting Notes may be converted (at the election of a
Converting Noteholder) into Shares following an Insolvency
Event.

The proposed terms of issue of the Converting Notes has now been
amended to delete provision for conversion of Converting Notes
to Shares on the occurrence of an Insolvency Event. Accordingly,
the only circumstance in which a Converting Note must be
redeemed by Primelife is if an Insolvency Event occurs with
respect to Primelife.

(3) Tricom Margin Loan Facility

Pages 7 and 34 of the Prospectus refer to a margin loan facility
provided to Primelife by Tricom to fund the acquisition of Aevum
Shares.

This margin loan is in the form of a securities lending
facility. Tricom Equities as lender will advance up to 70% of
the funds to acquire shares nominated by Primelife (Margined
Shares). The balance must be contributed by Primelife.

Margined Shares acquired are retained by Tricom Equities as
collateral for repayment of the loan and Primelife retains no
beneficial interest in the Margined Shares. Tricom Equities is
obliged to account to Primelife for all dividends paid on the
Margined Shares. Tricom Equities is also obliged to transfer
equivalent shares back to Primelife on repayment of the loan.

Margined Shares are marked to market daily. The collateral
provided by Primelife must have a value equal to the aggregate
of the value of the Margined Shares and a margin of
220%. If the market value of the Margined Shares falls Primelife
may be obliged to provide additional collateral in the form of
cash or other shares or other securities acceptable to Tricom
Equities.

Primelife has provided representations and warranties customary
for such margin loans. The loan is subject to standard events of
default.

(4) Pro Forma Summary Statements of Financial Position

Section 3.5 of the Prospectus included the pro forma
consolidated summary statements of financial position. These
statements were prepared to illustrate the financial position of
Primelife following completion of the Offer and on the
assumption that Primelife has completed the acquisition of Aevum
Shares representing 30%, 51% and 100% of the Aevum Shares on
issue and that these transactions had taken place on 30 June
2004.

To ensure investors have a clear understanding of the
adjustments made in preparing these statements, Primelife
provides the following additional notes to the statements:

  9. The consolidated summary statement of financial position
headed "Aevum 30%" has been prepared on the basis of equity
accounting. As a result, the assets and liabilities of Aevum as
at 30 June 2004 have not been included as assets or liabilities
of Primelife. However, an amount of $33.3 million, representing
the cost of acquiring 30% of the issued Aevum Shares at $1.30
plus transaction costs of $1.2 million, has been included as an
Investment in the Non-Current Assets of Primelife.

  10. The consolidated summary statements of financial position
headed "Aevum 51%" and "Aevum 100%" have been prepared on a
consolidated basis as if Aevum were a controlled entity of
Primelife as at 30 June 2004. As a result, the assets of Aevum
as at 30 June 2004 have been included as assets of Primelife.
This has resulted in the increase in Cash, Receivables, Other
Current Assets, Property, Plant and Equipment, Intangibles and
Deferred Tax Assets in these statements in comparison to the
statement headed "Aevum 30%". Similarly, the liabilities of
Aevum as at 30 June 2004 have been included as liabilities of
Primelife. This has resulted in the increase in Accounts
Payable, Other Current Liabilities, Accom Bond Liabilities,
Provisions - General and Other Non-Current Liabilities for these
statements in comparison to the statement headed "Aevum 30%". In
addition, no amount has been included in Investments to reflect
the investment of Primelife in Aevum.
  
  11. In addition to the adjustment referred to in notes 8 and
9, the amounts recorded for Cash in the consolidated summary
statements of financial position headed "Aevum 30%", "Aevum 51%"
and "Aevum 100%" have also been adjusted to reflect the fee
payable to Babcock & Brown in connection with the Aevum Offer.
This fee has been taken up at $0.8 million, $1.36 million and
$2.6 million respectively. For details of the calculation of
this fee see Section 6.9(b) of the Prospectus for details.

  12. Minority interest of $39.5 million has been accounted for
in the statement headed "Aevum 51%" to recognise the 49%
minority interest in Aevum's net assets of $74.4 million as at
30 June 2004 (adjusted to $80.7 million to reflect the impact of
Aevum's initial public offer).

  13. Goodwill of $29.4 million has been recognised in the
statement headed "Aevum 100%". This represents the difference
between the cost of acquisition of $110.1 million (including
transaction costs of $3.1 million) and Aevum's net assets as at
30 June 2004 of $74.4 million (adjusted to $80.7 million to
reflect the impact of Aevum's initial public offer). In the
statement headed "Aevum 51%", goodwill of $15.2 million
3has been recognised being the difference between acquisition
costs of $56.4 million (including transaction costs of $1.8
million) and $41.2 million being 51% of Aevum's net assets as at
30 June 2004 (adjusted to reflect the impact of Aevum's initial
public offer).

Approval

This Supplementary Prospectus has been approved by resolution of
the directors of Primelife Corporation Limited.

CONTACT:

Primelife Corporation Limited
Kings Way South Melbourne
Victoria 3205 Australia
Telephone: +61-3-8699-3300
Facsimile: +61-3-8699-3414
Web site: http://www.primelife.com.au


QANTAS AIRWAYS: Serves Australia-Shanghai Route
-----------------------------------------------
Qantas Airways on Friday commenced non-stop services between
Australia and Shanghai.

Qantas Executive General Manager John Borghetti said the airline
would operate three return flights a week on the route, catering
for the growing travel market between Australia and China.

"Returning to China, and to Shanghai in particular, is an
exciting move for Qantas," Mr. Borghetti said.

"The growing trade relationship between Australia and China has
boosted demand for business travel and we are also seeing a
significant increase in leisure travel in both directions."

Mr. Borghetti said Qantas' new two class Airbus A330-300
aircraft would operate on the route. These aircraft are fitted
with:

- Qantas' award-winning Skybed sleeper seat;
- self-service bar and mood lighting in Business Class; and
- inflight entertainment that includes individual video screens
for every customer.

"Our Shanghai customers will experience our excellent
International Business Class product and be able to enjoy
traditional northern Chinese cuisine and refreshments during the
flight," Mr. Borghetti said.

The new services are timed to suit customers connecting in
Melbourne or Sydney from other states or New Zealand.

Inflight entertainment features up to 10 movies offering either
Chinese subtitles or a Mandarin soundtrack and a selection of 12
Chinese music programs, six in Mandarin.

Mr. Borghetti said Qantas would continue to codeshare on China
Eastern services to Shanghai four times a week.

CONTACT:

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


SANTOS LIMITED: Insurers Accept Moomba Incident Liability
---------------------------------------------------------
Santos Limited advised that its insurers have agreed that losses
resulting from the New Years Day incident at the Moomba Gas
Plant are recoverable under the property damage and business
interruption policy.

This has been a detailed process given the nature of the claim.  
Santos and its insurers have now completed their assessment and
will proceed to evaluate and finalize the quantum of the claim.

The Company said it expects to be able to recognize a major
proportion of the insurance claim in its financial results for
the year ending 31 December 2004.

The anticipated 2004 financial loss for the Company, after
insurance recoveries, remains AU$25-30 million adverse profit
impact and AU$35-40 million impact on operating cash flow, as
previously advised.

Santos, as operator of the Moomba Gas Plant, in central
Australia, makes this announcement on behalf of the South
Australian Cooper Basin Producers, namely:

Santos (operator): 59.75%
Delhi Petroleum: 20.21%
Origin Energy: 13.19%
Novus Australia Resources: 4.75%
Basin Oil (OMV): 2.10%

CONTACT:

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


SANTOS LIMITED: ASX Grants "Rollover FUELS" Waiver
--------------------------------------------------
Santos Limited (Santos) advised that the Australian Stock
Exchange (ASX) has granted Santos a waiver from Listing Rule 7.1
to permit Santos to calculate the number of equity securities
that it may issue without prior shareholder approval following
the issue of the franked, unsecured, equity-listed securities
(FUELS) and the buyback, redemption, and cancellation of reset
preference shares (Resets) on the following basis:

(1) Any FUELS issued on or about 30 September 2004 in exchange
for the redemption or buyback proceeds of Resets being rolled
over into a subscription for FUELS (Rollover FUELS) are deemed
to have been on issue since the date of issue of the Resets.

(2) The Rollover FUELS are deemed not to be included in the
number of equity securities issued or agreed to be issued by
Santos for the purposes of variable "C" in the formula in
listing rule 7.1.

Rollover FUELS and placement capacity

In accordance with the conditions of the waiver, Santos advises
as follows:

(1) Santos issued 3,027,108 Rollover FUELS.
(2) Santos' Listing Rule 7.1 "15% placement" capacity as at 29
November 2004, calculated in accordance with the terms of the
waiver, is 45,366,691 equity shares.

FOR FURTHER INFORMATION PLEASE CONTACT:
Wesley Glanville
(08) 8218 5138


SEALCORP SERVICES: To Hold Final Meeting Today
----------------------------------------------
Notice is given that a final meeting of members of Sealcorp
Services Pty Ltd (In Voluntary Liquidation) A.C.N. 074 669 882
will be held today, December 6, 2004 at Level 9, 10 Shelley
Street, Sydney NSW at 10:00 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the Company has been disposed of, and to receive any
explanation of the account.

Dated this 21st day of October 2004

M.C. Smith
Liquidator
McGrathNicol+Partners
Level 9, 10 Shelley Street,
Sydney NSW 2000
Telephone: 9338 2666


SENATOR SECURITY: To Declare Final Dividend on December 23
----------------------------------------------------------
A first and final dividend is to be declared on the 23rd day of
December 2004 for Senator Security Pty Limited (Subject To Deed
Of Company Arrangement) A.C.N. 084 754 021.

Creditors whose debts or claims have not already been admitted
were required on 23 November 2004 to formally prove their debts
or claims. If they have not, they would be excluded from the
benefit of the dividend.

Dated this 2nd day of November 2004

Danny Vrkic
Deed Administrator
Jirsch Sutherland & Co - Wollongong
Chartered Accountants
Level 3, 6-8 Regent Street,
Wollongong NSW 2500
Telephone: (02) 4225 2545,
Facsimile: (02) 4225 2546


SKYRIDERS PTY: Final Meeting Set December 10
--------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Skyriders Pty Ltd (In Liquidation) A.C.N. 085 310
345 will be held at the office of Nicholls & Co, Chartered
Accountants, Suite 6, 459 Peel Street, Tamworth NSW 2340, on
Friday the 10th day of December 2004, at 11:00 a.m. for the
purpose of receiving the Liquidator's account showing how the
winding up has been conducted and the property of the Company
disposed of and hearing any explanation which may be given by
the Liquidator.

Dated this 22nd day of October 2004

A.R. Nicholls
Liquidator
Nicholls & Co
Suite 6 459 Peel Street,
Tamworth NSW 2340


SLOTA PTY: Sets December 17 as Date of Final Meeting
----------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Slota Pty Ltd (In Liquidation) A.C.N. 078 526 280
will be held at the office of Nicholls & Co, Chartered
Accountants, Suite 6, 459 Peel Street, Tamworth NSW 2340, on
Friday the 17th day of December 2004 at 11:00 a.m. for the
purpose of receiving the Liquidator's account showing how the
winding up has been conducted and the property of the Company
disposed of, and hearing any explanation which may be given by
the Liquidator.

Dated this 22nd day of October 2004

A.R. Nicholls
Liquidator
Nicholls & Co
Suite 6 459 Peel Street,
Tamworth NSW 2340


CANBERRA CHURCHES: To Undergo Voluntary Winding Up
--------------------------------------------------
Notice is hereby given that, at a General Meeting of Members of
The Canberra Churches Centres (In Liquidation) A.C.N. 008 498
744 held on 13 October 2004, it was resolved that the Company be
wound up voluntarily and that for such purpose Scott Cameron
Turner, Chartered Accountant, of WalterTurnbull, Level 17, 55
Clarence Street, Sydney NSW be appointed liquidator.

Dated this 21st day of October 2004

Scott Turner
Liquidator
WalterTurnbull
Level 17, 55 Clarence Street,
Sydney NSW 2000
Telephone: (02) 9299 4678,
Facsimile: (02) 9299 3131


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


BLOCKBUSTER HONGKONG: Issues Notice To Creditors
------------------------------------------------
Notice is hereby given that the creditors of Blockbuster
HongKong Limited, which is being wound up voluntarily, if they
have not already done so, are required on or before 5:30 p.m. on
28th day of December 2004 to prove their debts or claims by
sending particulars of their debts or claims and the names and
addresses of their solicitors, if any, to the Joint and Several
Liquidators.

In order to establish any title they may have to priority under
Section 265 of the Companies Ordinance.

In default thereof, they will be excluded from the benefit of
the distribution made next after the 28th day of December 2004
or as the case may be from objecting to such distribution.

Dated this 26th day of November 2004

Lai Kar Yan (Derek)
Darach E. Haughey
Joint and several Liquidators
26th Floor, Wing On Centre
111 Connaught Road Central
Hong Kong

Note: At this stage, it is expected that all third parties'
claims, if admitted, will be settled in full during the course
of the liquidation of the above named Company.


CHINA AVIATION: Falling Into Heavy Losses
-----------------------------------------
China Aviation Oil (CAO) experienced heavy losses that amounted
to SG$907 million form oil derivatives, Channel News Asia
reports.

CAO, which did not release details on the trading activities,
has been questioned on the kinds of bets undertaken by the
Company on oil prices to incur such huge losses in a short time
span. Inquiries were also being made on the precautions made in
order to prevent such fallouts. It is believed that losses
increased to US$55.67 a barrel on October 25.

COA expected the oil prices to go down and make money on the
drop of prices, but it lost heavily on the bet. COA then tried
to make up for the short position and took a double stance.

During better times, oil-trading activity supplied nearly14% of
COA's bottom line. What is questionable now why the losses were
not cut without the margin limits and prevent losses from coming
in.

With the SG$970 million loss COA it netted, COA is probably
insolvent with its net equity of SG%245 million.

It is too early to determine whether the Company needs rescuing
but the oil firm is hopeful that Temasek will rescue the
Company. The probe by PricewaterhouseCoopers may probably look
into COA and its parent Company took time to clean its trading
losses.

The incident might have a possible negative impact on the China-
based Singapore listed Company. But the Singapore Stock Exchange
is cleverly assuring investors the COA debacle not a reflection
of other China plays in the market.

In the meantime, the oil firm is taking a scheme of arrangement
where creditors are met to tackle debt repayments.


CHUNG MING: Court Appoints Committee of Inspection
--------------------------------------------------
Chung Ming Construction Limited was issued by the Court a notice
of appointment of committee of inspection.

By an order of the High Court of the Hong Kong Special
Administrative Region Court of First Instance, dated the 29th
day of October 2004, a Committee of Inspection in this winding-
up comprising the followings members:

(1) Mr Shea Kwong Ming;
(2) Mr Tse Kim Hung; and
(3) Mr Chung Choi Man

Dated this 26th day of November 2004.  

Stephen Briscoe
Joint and Several Liquidator


CRAFT PROJECTS: Enters Bankruptcy Proceedings
---------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Craft Projects (HK) Company Limited by the High Court of Hong
Kong Special Administrative Region was on the 20th day of
October 2004 presented to the said Court by Havens Steel
International Inc. which was incorporated in The United States
of America whose registered office is situate at One East First
Street, Reno, Nevada 89501, U.S.A. and registered in Hong Kong
under Part XI of the Companies Ordinance, Cap. 32 with principal
place of business at 11th Floor, Prince's Building, 10 Chater
Road, Central, 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.

S. H. CHAN & CO
Solicitors for the Petitioner
Unit C - F, 18th Floor
China Overseas Building
139 Hennessy Road
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.


ELECTRONIC WORLD: Bankruptcy Petition Hearing Set December 15
-------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Electronic World Electronic Limited by the High Court of Hong
Kong Special Administrative Region was on the 26th day of
October 2004 presented to the said Court by Bank of China (Hong
Kong) Limited whose registered office is situated at 14th Floor,
Bank of China Tower, 1 Garden Road, Hong Kong.  

The said Petition will be heard before the Court at 9:30 am on
the 15th 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.

K. W. NG & CO
Solicitors for the Petitioner
11th Floor, Wings Building
110 Queen's Road Central
Hong Kong

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


FANTASY-TOY INDUSTRIAL: Sets Winding-up Hearing Dec. 22
-------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Fantasy-Toy (HK) Industrial Corporation Limited  by the High
Court of Hong Kong was on the 1st day of November, 2004
presented to the said Court by Lam Pui Pui of Room 3301, Block
A, King Lok House, Shan King Estate, Tuen Mun, New Territories,
Hong Kong.

The said petition will be heard before the Court at 9:30 am. on
the 22nd 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.

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

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 21st day of
December 2004.


INTERNATIONAL MANUFACTURING: Sets Members, Creditors Meetings
-------------------------------------------------------------
Notice is hereby given that the Creditors of International
Manufacturing Technology Limited, which is being voluntarily
wound up, are required on or before the 24th day of December
2004 to send their names, addresses and descriptions, full
particulars of their debts or claims, as well as the names and
addresses of their solicitors (if any) to the undersigned.

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

Dated this 29th day of November 2004

Chung Miu Yin, Diana
Chan Mi Har
Joint and Several Liquidators
24th Floor, Prince's Building
10 Chater Road, Central
Hong Kong


TELHOPE INFORMATION: Court to Hear Bankruptcy Petition
------------------------------------------------------
Telhope Information Development Company Limited disclosed the
venue and date of its hearing.

Venue: High Court, High Court Building, 38 Queensway, Hong Kong.

Date of Hearing: 13th January 2005 At 9:30 a.m.

Dated this 1st day of December 2004

Cheung Man Kok
Joint and Several Provisional Liquidator

This notice is dated November 26, 2004.


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


GARUDA INDONESIA: Government Lays Out Rescue Options
----------------------------------------------------
The government has prepared options to help rescue ailing
carrier Garuda Indonesia from its financial plight and boost its
competitiveness in the airline industry, The Jakarta Post says.

According to State Enterprises official Ferdinand Nainggolan,
part of the revival plan is to convert the airline's debts into
equity.

Mr. Nainggolan said the government did not consider debt
refinancing as an option because it feared that no financial
institutions would be willing to lend to the airline or buy its
bonds given its low investment rating.

The national flag carrier has earlier acknowledged it has been
left behind by its competitors in the region due to its
inability to boost its fleet because of lack of funds and
limited capital infusions from creditors. Creditors have only
allowed the firm to borrow a total of US$25 million over 10
years.

The airline admitted it could eventually collapse unless the
government allows the airline to refinance its debts.

Garuda, which defaulted on more than US$1.1 billion in debts to
international creditors during the Asian financial crisis, had
undergone debt restructuring in 2001.

As of this year, the airline's debts stand at US$850 million, of
which some US$650 million is owed to an international consortium
consisting of creditors in the United Kingdom, Germany and
France.

This year, Garuda is scheduled to pay some US$115 million of the
debt, including interest.

To date, Garuda's management has not yet reached a decision
about the refinancing and never discussed the options with the
government.

CONTACT:

PT Garuda Indonesia
Garuda Indonesia Bldg.,
Jalan Merdeka Selatan No. 13
Jakarta, 10110, Indonesia
Phone: +62-21-231-0082
Fax: +62-21-231-1679
Web site: http://www.garuda-indonesia.com


PT TIMAH: Calls on DPR to Approve Divestment
--------------------------------------------
PT Timah has asked Commission VII of the National Parliaments
(DPR) to endorse the divestment of 14 percent of the
government's shares in the Company through secondary offering,
according to Indoexchange.

Timah President Director Thobrani Alwi confirmed the DPR has not
yet approved the firm's plan to dispose of the shares. He also
disclosed Timah has not been invited by the Ministry of State
Enterprises to discuss about the intended divestment.

At a meeting with the DPR in September 2004, Timah called for
endorsement from DPR's Commissions V, VIII and IX over the
Company's divestment plan.

Timah Finance Director Wachid Usman is bullish the sale, which
had actually been postponed, would be realized.  

As previously reported, referring to Letter No. S-450/PJ.42/1998
dated Sep.9, 1998, the directorate of taxes had agreed at the
book value of the transfer of assets in regard of the Company's
plan of restructuring. The letter also regulates that Timah has
to realize its secondary offering.

CONTACT:

Pt Timah Terbuka
Jalan Jenderal Sudirman 51
Pangkalpinang, Bangka 33121
Indonesia
Phone: +62 717 431335
Fax: +62 717 432323
Web site: http://www.pttimah.com/


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


ASSOCIANT TECHNOLOGY: TSE to Delist Shares Over Accounting Scam
---------------------------------------------------------------
Shares of Web system developer Associant Technology Inc. are set
for delisting from the Tokyo Stock Exchange next year, as the
Company failed to submit an audited financial statement
following the recent revelation of its accounting manipulations,
according to Jiji Press.

TSE will move Associant's stock to its liquidation post Thursday
in preparation for the delisting on Jan. 2, 2005.

According to Associant, its failure to submit its financial
statement for the year ended July was primarily due to the
refusal of its auditors to approve the statement.

The firm had admitted it tampered with financial documents
during the two years to July this year. As a result, the TSE in
October moved the Company's stock to the monitoring post.


JAPAN AIRLINES: Sells H.Q. to Nomura Real Estate
------------------------------------------------
Japan Airlines and Mitsubishi Trading Co. co-owners through
subsidiaries of the JAL Building, the headquarters of the JAL
Group in Tokyo, have concluded a purchasing contract with Nomura
Real Estate for the sale of the building that will result in
greater liquidity for the JAL Group. The JAL Group will continue
to occupy the building and the name remains the same.

A key target in Japan Airlines' current medium-term business
plan for the period 2004-2006 is the reduction of interest-
bearing debt by JPY400 billion by the end of FY2006 (March 31,
2007). This is being achieved by reducing investments to regain
a sound financial condition and by implementing measures to
increase revenue and maximize effects of the recently concluded
integration of Japan Air System in the JAL Group in order to
improve profitability. As part of this plan, JAL has decided to
sell the JAL Building. As a result, the airline group will be
able to reduce interest-bearing debt, avert risks pertaining to
real estate and improve cash flow.

Under the purchasing contract, JAL International's 100% owned
subsidiary Global Building Company and Ryoko Logistics, a 100%
owned subsidiary of Mitsubishi, which jointly own the JAL
Building, will sell the JAL Building located in Tennozu in the
Shinagawa district of Tokyo, to a special purpose Company
established by Nomura Real Estate Development Company and Nomura
Real Estate Office Fund Inc.

Outline

JAL Building location: Higashi-shinagawa 2-4-11, Shinagawa-ku,
Tokyo

JAL Building outline: 26 storeys plus two underground levels

Land area: 11,670.40 sq. mtrs

Floor space: 82,602.11 sq. mtrs

Date of construction completion: June 1996

Contract date: December 1, 2004

Selling price: JPY65 billion

Handover date: March 18, 2005

CONTACT:

Japan Airlines Corporation
4-11, Higashi-shinagawa 2-chome,
Shinagawa-ku
Tokyo, 140-8605, Japan
Phone: +81-3-5769-6097
Fax: +81-3-5460-5929
Web site: http://www.jal.co.jp


MISAWA HOMES: Seeks Financial Assistance from Toyota
----------------------------------------------------
Misawa Homes Holdings Incorporated had sought investment and
other financial aid from Japan's largest automaker, Toyota Motor
Corporation, Reuters says.

The ailing homebuilder said it visited Toyota to request for
monetary support after its board unanimously agreed to ask for
help from the carmaker.

Toyota said Monday it is considering assisting Misawa Homes if
the homebuilder turns to the government turnaround body
Industrial Revitalization Corporation of Japan (IRCJ).

Media reports have said Toyota had been hesitant to help Misawa
Homes because its founder and former president, Chiyoji Misawa,
continued to hold considerable sway within the firm.

It has been reported that a group of Misawa employees and former
employees, Mr. Misawa, had set up an investment fund with the
aim of buying the homebuilder.

Earlier, it was learned that Toyota was keen on acquiring new
shares to be issued by Misawa in a bid to beef up its home-
building business, which had been in the doldrums due to lack of
nationwide sales network.

CONTACT:

Misawa Homes Co Ltd
4-5 Takaido-Higashi 2-Chome
Suginami-Ku 168-8533, Tokyo 168-8533
Japan
Phone: +81 3 3331 1111
Fax: +81 3 5381 7830
Web site: http://www.misawa.co.jp/


MITSUBISHI FUSO: Aims to Get Trucks Approved by Year-end
--------------------------------------------------------
Mitsubishi Fuso Truck and Bus Corporation is expecting to obtain
government approval to sell all of its models by the end of the
year, Reuters reports, citing the Nihon Keizai Shimbun
newspaper.

However, the Transport Ministry is reportedly not ready to give
the go-ahead this year because it had toughened its stance
towards the embattled truck maker, which revealed in May it
concealed vehicle defects from authorities for eights years.

Mitsubishi Fuso said in a statement that it is currently in
close discussions with the Transport Ministry regarding the
sought approval and is providing all the necessary information
to hasten the process hoping to finalize it within this year.

In October, Mitsubishi Fuso was granted approval to market about
70 percent of its requested new models, all in the medium and
light-duty range. But it is still awaiting word on 29 Canter
light-duty truck models.

Last week, Fuso said it would halt sales of most heavy-duty
trucks for about two months while it traces some 120,000
vehicles that it wants to recall to fix defective front and rear
wheel hubs.

It had already issued recalls for over 910,000 trucks and buses
since May.

CONTACT:

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


MITSUBISHI MOTORS: Could Receive US$971-Mln Aid Package
-------------------------------------------------------
Stricken carmaker Mitsubishi Motors Corporation (MMC) is likely
to receive around JPY100 billion (US$971 million) in aid from
Mitsubishi Tokyo Financial Group (MTFG) and others, reports
Agence France Presse.

The total package may also include JPY30 billion in loans from
the state-backed Development Bank of Japan.

The aid, which would come on top of a JPY496 billion in rescue
financing early this year from group firms and other investors,
is to be allotted for reorganizing the ailing carmaker's
business, overhauling sales channels, and for research and
development.

MMC, which has been suffering from dwindling sales following a
string of defect cover-up scandals, is to map out a new
rehabilitation program in mid-December centering on an expanded
partnership with Nissan Motors for the manufacture of mini cars.

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


RESONA HOLDINGS: Unit Extends Rehab Aid to Sankei
-------------------------------------------------
Resona Bank, Ltd., one of the banking subsidiaries of Resona
Holdings, Inc., acceded to the business revitalization plan
formulated by its customer, Sankei Co., Ltd. and its 15 group
companies.

On November 30, 2004, Resona Bank submitted an application based
on the Article 22 of the Industrial Revitalization Corporation
Law, under the joint names with the Companies and The Bank of
Tokyo-Mitsubishi Ltd. (Bank of Tokyo-Mitsubishi), to the
Industrial Revitalization Corporation of Japan for assistance
towards the business revitalization of the Companies.

In accordance with the application, Resona Bank will provide the
Companies with the financial assistance as specified below,
subject to the condition that financial institutions other than
Bank of Tokyo-Mitsubishi and Resona Bank also accede to the
business revitalization plan of the Company.

To view the entire media release, click on:
http://bankrupt.com/misc/TCRAP_RESONAHOLDINGS120306.pdf

CONTACT:

Resona Holdings, Inc.
2-1, Bingomachi 2-chome, Chuo-ku
Osaka, 540-8608, Japan
Phone: +81-6-6271-1221
Fax: +81-6-6268-1337
Web site: http://www.resona-hd.co.jp


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


ASIANA AIRLINES: Battles with Korean Air on Flight Allocation
-------------------------------------------------------------
Asiana Airlines and Korean Air were locked in a dispute after
they were allotted equal number of flights to Taiwan, reports
Asia Pulse.

Asiana said it is only about two thirds of the size of Korean
Air, thus it is to small to be placed in equal footing with the
Korean airline.  Both airline companies were given nine weekly
passenger flights and one cargo service flight to Taiwan.

South Korea and Taiwan had signed an agreement to restart
regular flight services between Seoul and Taipei on Wednesday
for the first time since 1992, when South Korea established
diplomatic relations with China, prompting Taiwan to sever ties
with South Korea.

The decision prompted Korean Air to file a lawsuit against the
Ministry of Transportation and Construction, saying it should be
given more flight rights.  Korean Air argued that it should be
given 14 weekly passenger flights and two cargo services, the
number of flights it had before 1992.

Korean Air also cried unfair on the preferential treatment the
government is giving Asiana for being a latecomer since it has
been in operation for 16 years.  

Asiana said Korean air has grown 1.8 times larger than them so
its argument is groundless.

CONTACT:

Asiana Airlines Inc.
Alpha Tower Bldg., 70,
Seolin-Dong, Jongro-Gu,
Seoul, South Korea, 110-110
Phone: 82-2-2127-8282
Fax: 82-2-2127-8230


LG CARD: Card Issuers' Combined Losses Shrinks to KRW81.5 Tln
-------------------------------------------------------------
LG Card Co. and other credit card issuers narrowed their
combined losses in the third quarter to KRW81.5 trillion
(US$77.7 million), reports The Korea Herald.

The decrease in the value of the losses resulted from a
tightened lending and more rigorous credit checks.  

According to the Financial Supervisory Services, the losses at
LG Card and five competitors in the first three months to
September 30 narrowed from KRW775 billion a year earlier.  Their
combined losses for the first nine months of the year narrowed
to KRW1.59 trillion from KRW2.85 trillion, it said.

The card companies recorded a loss of KRW7.7 trillion last year.  
The surge in the number of delinquent cardholders resulted to an
increase in the provisions to cover customers' unpaid bills.

LG Card's nine-month loss totaled KRW407.4 billion after posting
a KRW46.8 billion in the third quarter.

CONTACT:

LG Card Company Limited
Fax: (02) 3420-7002
E-mail: webmaster@card.lg.co.kr
Web site: http://www.lgcard.com


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


AKTIF LIFESTYLE: Aims to Regularize Financial Condition
-------------------------------------------------------
Aktif Lifestyle Corporation Berhad is still continuing its
efforts to seek and acquire new core businesses to regularize
its financial condition, pursuant to the Practice Note No.
4/2001 (PN4) of the listing requirements of the Bursa Malaysia
Securities Berhad (Bursa Securities).

The Company will keep Bursa Securities informed of any further
development on the matter.

CONTACT:

Aktif Lifestyle Corporation Berhad
Level 10, Grand Seasons Avenue, No. 72,
Jalan Pahang, 53000 Kuala Lumpur
Malaysia
Telephone:  (60) 3 2693 1828
Fax:  (60) 3 2691 2798

This announcement is dated 2 December 2004.


AKTIF LIFESTYLE: Issues Default Status Update
---------------------------------------------
Further to its announcement dated 1 November 2004, Aktif
Lifestyle Corporation Berhad announced that there is no change
to the status of default in payment as it is still awaiting CP
Properties Sdn Bhd to complete the necessary documentation with
RHB Bank Berhad and OCBC Bank (Malaysia) Berhad for the release
of the corporate guarantees given by Aktif.

The Company will keep Bursa Malaysia Securities Berhad informed
of any further development on the matter.

This announcement is dated 2 December 2004.


ARTWRIGHT HOLDINGS: EGM Set For December 20
-------------------------------------------
Notice is hereby given that the Extraordinary General Meeting
(EGM) of Artwright Holdings Berhad will be held at Hotel Istana,
Kuarza Executive Meeting Room, 23rd Floor, No. 73 Jalan Raja
Chulan, 50200 Kuala Lumpur on 20 December 2004 at 3 p.m. or
immediately after the conclusion of the Eleventh Annual General
Meeting of the Company to be convened on the same date and
venue, whichever is later or at any adjournment thereof for the
purpose of considering and, if thought fit, passing the
following resolution:

ORDINARY RESOLUTION 1 - PROPOSED PRIVATE PLACEMENT OF UP TO
8,300,000 NEW ORDINARY SHARES OF RM1.00 EACH IN THE COMPANY
(PLACEMENT SHARES), AT A PRICE TO BE DETERMINED AT A LATER DATE,
TOGETHER WITH UP TO 8,300,000 DETACHABLE WARRANTS AT NO
ADDITIONAL COST (PLACEMENT WARRANTS) ON THE BASIS OF ONE (1)
PLACEMENT SHARE WITH ONE (1) PLACEMENT WARRANT (PROPOSED PRIVATE
PLACEMENT)

"THAT, subject to the approval of the Securities Commission,
Bursa Malaysia Securities Berhad and other relevant authorities,
where applicable, for the Proposed Private Placement and the
listing of and quotation for the Company's new ordinary shares
of RM1.00 each, new warrants and new ordinary shares of RM1.00
each pursuant to the exercise of the new warrants to be issued,
approval be and is hereby given for the Company to allot and
issue up to 8,300,000 Placement Shares with up to 8,300,000
Placement Warrants on the basis of one (1) Placement Share with
one (1) Placement Warrant at an issue price of the Placement
Shares to be determined, after taking into consideration, inter-
alia, the prevailing market conditions at the material time, and
at a level which is in the best interests of the Company, and to
take into account the interests of minority shareholders, in the
following manner:-

(i) the par value of RM1.00; or

(ii) at a discount of not more than ten percent (10%) from the
five (5)-day weighted average market price of the ordinary
shares of RM1.00 each (Artwright Shares) immediately preceding
the price-fixing date, whichever is higher,

AND THAT no Placement Warrants will be attached to the Placement
Shares if the five (5)-day weighted average market price of
Artwright Shares immediately preceding the price-fixing date is
at or above the par value of RM1.00;

AND THAT to place the Placement Shares with Placement Warrants,
via placement agent(s), to prospective placees and deal with the
same upon such terms and conditions as the Directors of the
Company shall deem fit;

AND THAT, the Company to allot and issue any further Placement
Warrants (Further Warrants) pursuant to the adjustments in
accordance with the terms of the Deed Poll of the Placement
Warrants as may be required or permitted to be issued as a
consequence of the adjustment pursuant to the provisions of the
Deed Poll and which shall be treated as equal in all respects
and form part of the same series of the Placement Warrants, and
such number of new Artwright Shares credited as fully paid-up
arising from the exercise of the subscription rights represented
by such Further Warrants (subject to any further adjustments to
the subscription rights attached to and the number of the
Further Warrants made in accordance with the Deed Poll) and such
new Artwright Shares shall upon allotment and issue, rank pari-
passu in all respects with the then existing Artwright Shares
except that they shall not be entitled to any dividends that may
be declared prior to the date of allotment of the new Artwright
Shares, nor shall they be entitled to any distribution or
entitlements for which the entitlement date is prior to the date
of exercise of the Further Warrants;

AND THAT, the Directors of the Company be and are hereby
authorised to give effect to and implement the Proposed Private
Placement with full power to assent to any conditions,
modifications, variations, amendments and to do all acts and
things and to enter into any agreements in any manner as may be
required by the relevant authorities."


By Order of the Board
ARTWRIGHT HOLDINGS BERHAD

YEOH CHONG KEAT (MIA 2736)
Company Secretary

Kuala Lumpur
3 December 2004

Notes:

(i) A proxy may but need not be a member of the Company and a
member may appoint any person to be his proxy without limitation
and the provisions of Section 149(1)(b) of the Act shall not
apply to the Company.

(ii) A member shall not be entitled to appoint more than two (2)
proxies to attend and vote at the same meeting and where the
member appoints more than one (1) proxy to attend and vote at
the same meeting, such appointment shall be invalid unless the
member specifies the proportion of his holdings to be
represented by each proxy.

(iii) Where a member of the Company is an authorised nominee as
defined under the Securities Industry (Central Depositories) Act
1991, it may appoint at least one (1) proxy in respect of each
securities account it holds with ordinary shares of the Company
standing to the credit of the said securities account.

(iv) The instrument appointing a proxy shall be in writing under
the hand of the appointor or of his attorney duly authorised in
writing or, if the appointor is a corporation, either under Seal
or under the hand of an officer or attorney duly authorised.

(v) The instrument of a proxy and the power of attorney (if any)
under which it is signed or a notarially certified copy thereof
shall be deposited at the Registered Office of the Company
situated at Suite 11.1A, Level 11, Menara Weld, 76, Jalan Raja
Chulan, 50200 Kuala Lumpur not less than forty-eight (48) hours
before the time set for the holding of this meeting or at any
adjournment thereof.

CONTACT:

Artwright Holdings Berhad
274909-A
6th Floor
3 Cangkat Raja Chulan
50250 Kuala Lumpur, WP
Malaysia


AYER HITAM: Updates Regularization Plan
---------------------------------------
Further to its announcements made to the Bursa Malaysia
Securities Berhad on 28 October 2004 and 1 November 2004, Ayer
Hitam Tin Dredging Malaysia Berhad announced that it is still in
the midst of assessing various options available to regularize
its financial condition.

Since then, there have been no changes on the status of the
Company.

CONTACT:

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

This announcement is dated 1 December 2004.


CHG INDUSTRIES: Finalizes Debt Restructuring Scheme
---------------------------------------------------
Further to its announcement on 1 November 2004, CHG Industries
Berhad announced that it is finalizing on the preparation of its
applications on the Proposed Debt and Corporate Restructuring
Scheme to the relevant authorities.

CONTACT:

CHG Industries Berhad
8th Mile Jalan Cheras
Cheras, Selangor Darul Ehsan 43200
Malaysia
Telephone: +60 3 907 58811
Telephone: +60 3 907 66215

This announcement is dated 2 December 2004.


C.I. HOLDINGS: Unveils Outcome of Legal Action
----------------------------------------------
The Board of Directors of C.I. Holdings Berhad (CIH) announced
the outcome of a legal action taken against C.I. Quarries Sdn
Bhd (formerly known as Hume Redland Quarries Sdn Bhd) (the
Defendant), a wholly owned subsidiary of CIH, by Affin Bank
Berhad (formerly known as Perwira Affin Bank Berhad) (the
Plaintiff), for the recovery of a sum of RM1.242 million with
interests and costs (Claim) as disclosed and updated in the
financial statements since 30th June 2001.

Background Information

The legal action was based on an alleged entitlement to monies
said to owe by the Defendant to its contractor, and that these
said the contractor has assigned monies to the Plaintiff
pursuant to a written assignment.

The application to strike out the Plaintiff's claim was
dismissed by the Senior Assistant Registrar (SAR) at a hearing
dated 29th January 2003.

The Defendant then lodged an appeal on the SAR's decision and
filed an application to adduce new evidence. On 25th March 2004,
the learned judge dismissed both the appeal and the application
with costs.

The Defendant filed a Notice of Appeal to the Court of Appeal on
21st April 2004 against the entire decision of the Kuala Lumpur
High Court (KLHC) delivered on 25th March 2004. The Record of
Appeal was successfully filed on 14th September 2004.

An application for Stay of Execution (Summons in Chambers) was
filed on 16th September 2004.

Outcome

After considering submission of parties the Honourable Court
dismissed the application with costs. The Defendant will file a
Motion to move the Court of Appeal for a stay pending disposal
of the appeal.

Financial Implications

The Defendant would make the necessary provision pending the
appeal.

Operational Implications

The outcome has no impact on the operations of the Group.

CONTACT:

C.I. Holdings Berhad
No 16 Lorong Yap Kwan Seng
Kuala Lumpur, JALAN SULTAN ISMAIL 50450
MALAYSIA
Phone: +60 3 2145 4337
Fax: +60 3 2141 5757


CONSOLIDATED FARMS: Default Status Unchanged
--------------------------------------------
Pursuant to the Practice Note No. 1/2001 of the Bursa Malaysia
Securities Berhad, Consolidated Farms Berhad announced that the
group has been unable to pay the amount of principal and/or
interest in respect of its credit facilities as at 30 November
2004.

There has been no material change in the Company's status since
the last announcement on 2 November 2004.

For more information, go to
http://bankrupt.com/misc/tcrap_consolidated120304.doc

This announcement is dated 2 December 2004.


CYGAL BERHAD: Updates Restructuring Plan
----------------------------------------
Cygal Berhad refers to its announcement dated 1 November 2004.
Cygal announced, other than previously announced, there has been
no further development on the status of its restructuring plan.

CONTACT:

Cygal Berhad
Lot 4.21, 4th Floor, Plaza Prima
4 1/2 Miles, Jalan Klang Lama
58200 Kuala Lumpur
Phone: 03-7983 9099
Fax: 03-7981 7629


FORESWOOD GROUP: SC Rejects Restructuring Exercise
--------------------------------------------------
In line with Practice Note No.4/2001 of the Listing Requirements
of the Bursa Malaysia Securities Berhad, Foreswood Group Berhad
announced that there is no significant development in respect of
its plan to regularize its financial condition.

The application made by the Company in relation to the Proposed
Corporate and Debt Restructuring Exercise was rejected by
Securities Commission (SC) on 8 November 2004 and the Company
intends to appeal to the SC to reconsider its decision.

CONTACT:

Foreswood Group Berhad
Level 4, B59
Taman Sri Sarawak Mall
Jalan Tunku Abdul Rahman
93100 Kuching , Sarawak
Malaysia
Phone no: 6082-428626
Fax no: 6082-423626

This announcement is dated 1 December 2004.


GULA PERAK: Granted Listing of 17,400 Ordinary Shares
-----------------------------------------------------
Gula Perak Berhad's additional 17,400 new ordinary shares of
RM1.00 each issued pursuant to the conversion of 17,400
irredeemable convertible secured loan stocks 2000/2005 into
17,400 new ordinary shares will be granted listing and quotation
with effect from 9 a.m., Monday, 6 December 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


JIN LIN: SC Evaluates Restructuring Scheme
------------------------------------------
In compliance with the Practice Note No. 4/2001 (PN4) of the
Bursa Securities Listing Requirements, which requires an
affected listed issuer to announce the status of its plan to
regularize its financial condition on a monthly basis until
further notice from Bursa Securities, Jin Lin Wood Industries
Berhad announced that its Proposed Restructuring Scheme
submitted to the Securities Commission (SC) on 30 June 2004 is
still in the process of being evaluated by SC. SC is also
evaluating on behalf of the Foreign Investment Committee.

CONTACT:

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

This announcement is dated 1 December 2004.


KEMAYAN CORPORATION: Releases Monthly Status Update
---------------------------------------------------
The Board of Directors of Kemayan Corporation Berhad (KCB),
announced that it is presently still in the midst of preparing
the necessary documents to obtain approvals of the Scheme
Creditors and shareholders of KCB at the relevant meetings to be
convened.

Further developments in relation to the Proposed Restructuring
Scheme will be made to the Bursa Malaysia Securities Berhad in
due course.

CONTACT:

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

This announcement is dated 1 December 2004.


KILANG PAPAN: Seeks Restructuring Scheme Revisions
--------------------------------------------------
Kilang Papan Seribu Daya Berhad (Special Administrators
Appointed) announced that it is currently waiting for approvals
from the Securities Commission and Foreign Investment Committee
on its revised Proposed Restructuring Scheme.

Save as disclosed above, there is no material change to the
Company's plan to regularize its financial condition.

CONTACT:

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

This announcement is dated 1 December 2004.


K.P. KENINGAU: No Update on Regularization Plan
-----------------------------------------------
The Board of Directors of K.P. Keningau Bhd. announced that
there is no new development since the date of the last
announcement and, the Company is still in the midst of
formulating and assessing various options to regularize its
financial condition.

CONTACT:

K.P. Keningau Berhad
Lot 10, The Highway Centre
Jln 51/205 46050 Petaling Jaya,
Selangor
Telephone: 03-7784 3922
Fax: 03-7784 1988

This announcement is dated 1 December 2004.


K.P. KENINGAU: Answers Bursa Malaysia Query
-------------------------------------------
K.P. Keningau Berhad responded to the Bursa Malaysia Securities
Berhad's query letter dated 2 December 2004 and furnished the
following additional information for public release.

1. Operational impact of the litigations on the Group

To the best of our knowledge, the operational impact of the
litigations on the Group would be in respect of the following.
Arising from the total recall of all banking facilities among
others, and the Company and subsidiary companies being named
Defendants in the litigation suits, and also of the Company's
status as an affected issuer pursuant to Practice Note: 4/2001,
the Auditors have in the Audit Report of the Financial
Statements for the year ended 31.7.2004 included qualified
disclaimer opinions expressing significant doubts about the
Company and the subsidiary companies' abilities to continue as
going concerns.

Thus, arising from the litigations, the continuity of operations
of the group companies would now even be more dependent on new
injection of funds to the group and/or when a comprehensive
corporate restructuring scheme can be formulated and
successfully implemented to address its current distressed
financial situation.

2. Financial and expected losses arising from the litigations

The group is expected to incur further expenses in engaging
Solicitors to address the legal actions under the litigations
instituted. In the event the Plaintiff successfully obtained
judgments and duly enforced the claims, the maximum expected
losses accruing would be limited to the principal amounts,
interest, legal fees and any other costs claimed and as set out
in the said legal suits. Please refer to the details in the
announcement made on 30 November 2004.

Bursa Securities Query Letter content:

The Bursa Malaysia Securities Berhad refer to your Company's
announcement dated 30 November 2004 in respect of the aforesaid
matter.

In this connection, kindly furnish Bursa Securities immediately
with the following additional information for public release:

1) The financial and operational impact of the litigations on
the Group; and

2) The expected losses, if any arising from the litigations.

Yours faithfully,
TAN YEW ENG
Sector Head
Issues & Listing
Group Regulations
TYE/LMN
cc: Encik Onn Ismail
Securities Commission (via fax)


LITYAN HOLDINGS: Releases Monthly Status Update
-----------------------------------------------
Lityan Holdings Berhad (LHB) issued an update on the various
credit facilities in default by its subsidiaries to the
financial institutions as at 30 November 2004, as detailed in
Table A at http://bankrupt.com/misc/tcrap_lityan120304.doc.

The Company is actively taking steps to dispose off the Group's
non-core investments and non-operating assets to generate cash
flow for settlement of defaults and redemption of the loans.

CONTACT:

Lityan Holdings Berhad
Bangunan Lityan,
Peremba Square Saujana Resort,
Section U2
40150 Shah Alam
Selangor Darul Ehsan Malaysia
Phone: + 603-7622-1188
Fax: +603-7666-6870
E-mail: enquiry@lityan.com.my


METROPLEX BERHAD: Appoints Provisional Liquidator
-------------------------------------------------
The Board of Directors of Metroplex Berhad (MB) announced that
its solicitors advised the Company that the High Court of Malaya
has fixed the hearing on the application for the appointment of
a provisional liquidator on 16 December 2004.

CONTACT:

Metroplex Berhad
1st Floor Wisma Equity
150 Jalan Ampang
50450 Kuala Lumpur,
Malaysia
Telephone: 03-2618911

This announcement is dated 2 December 2004.


MYCOM BERHAD: Posts Monthly Status Update
-----------------------------------------
Mycom Berhad announced that under Petition No. D1-26-33-2004, in
the matter of an application to approve a member's scheme of
arrangement pursuant to sections 64 and 176 of the Companies
Act, 1965, the High Court of Malaya at Kuala Lumpur on 30
November 2004, had granted its sanction to the Mycom Berhad
Scheme of Arrangement under the Proposed Restructuring Scheme of
the Company.

The Mycom Scheme of Arrangement involves a proposed capital
reduction and consolidation, a share premium account reduction
and a proposed revaluation reserve account reduction as
contained in the Explanatory Statement cum Circular to
Shareholders dated 29 September 2003 as envisaged and approved
by shareholders of the Company on 30 October 2003.

Save as above, there is no other major development to the
Proposed Restructuring Scheme of Mycom at the time of
announcement.


NORTH BORNEO: Awaits Revised Scheme Approval
--------------------------------------------
The Board of Directors of The North Borneo Corporation Berhad
wishes to inform the Bursa Malaysia Securities Berhad that there
are no changes to the status of its plan to regularize its
financial position since the last announcement on the Revised
Scheme that was released by Southern Investment Bank Berhad on 1
September 2004.

The Revised Scheme submitted to the Securities Commission and
the Foreign Investment Committee is now pending approval by the
relevant authorities.

Yours faithfully,
THE NORTH BORNEO CORPORATION BERHAD
ANDREW HENG
Director
1 December 2004

CONTACT:

North Borneo Corporation Berhad (the)
6 Lorong Api-Api Centre
Kota Kinabalu, Sabah 88000
MALAYSIA
Phone: +60 87 263232
Fax: +60 87 234363


PROMTO BERHAD: Seeks Restructuring Scheme Approval
--------------------------------------------------
Promto Berhad (PB) had announced that an application would be
made to Securities Commission (SC) for its approval of the
Proposed Restructuring Scheme (Application) within four (4)
months from the date of the announcement.

However, due to the delay in finalizing the profit and cash flow
estimates, forecasts and projections of the Acquiree Companies,
PB is unable to submit and finalize the Application to be
submitted to the relevant authorities within the stipulated time
above.

In this regard, the Board of Directors of PB expects to submit
the Application in the first quarter of 2005.

CONTACT:

Promto Berhad
Lot 13A-2, Level 13A
Menara Milenium
Jalan Damanlela
Damansara Heights
50490 Kuala Lumpur
Phone: 03-271 02332
Fax: 03-271 02662
Web site: http://www.promto.com

This announcement is dated 1 December 2004.


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


COLLEGE ASSURANCE: SEC Denies Petition To Withdraw Trust Fund
-------------------------------------------------------------
The Securities and Exchange Commission (SEC) has rejected the
petition of College Assurance Plan Philippines Inc. to secure a
blanket authority to withdraw from its trust fund, reports the
Asia Intelligence Wire.

The commission denied the pre-need firm's proposal pending
submission of a report on the first draw down from its trust
fund.

The SEC earlier allowed CAP to withdraw Php12 million from its
trust fund and replace with a portion of the Php3.4 billion Mass
Railway Transit Bonds in November to enable the pre need Company
to pay the tuition of plan holders.

The SEC gave the approval on the condition that the CAP submits
a report to the SEC and that the amount should be used to only
pay plan holders. CAP has not submitted a report, it said.

SEC Chairman Fe Barin said CAP again sought SEC's approval to
have continuing authority to withdraw cash and readily
liquefiable assets from its trust fund to pay the claims of plan
holders.

"We want to know first what happened to the Php12 million they
got from the trust fund. We also wanted to know schedule of
their payments and how many plan they have," Ms. Barin said.

CONTACT:

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


MAYNILAD WATER: To Hike Water Rates in January
----------------------------------------------
Starting next month, customers of the Maynilad Water Services
Inc. will pay Php30.19 per cubic meter of water from the current
rate of Php19.92, the Manila Times reports. That is if a
November 2004 resolution issued by the Metropolitan Waterworks
and Sewerage System-Regulatory Office (MWSS-RO) pushes on.

"As a consequence of this recognition the MWSS-RO proposes that
the all-in average tariff of Php30.19/cu. m. [i.e. the rate that
would have been applicable had Maynilad implemented the rebased
tariff starting January 1, 2003] computed at 2005 prices can be
considered to be implemented on January 1, 2005, without
prejudice to the conditions precedent in the approval of the
said tariff," the resolution said.

Eduardo C. Santos, MWSS Chief Regulator, and Deputy
Administrators Angel Efren Agustin, Randolph Sakai and Emmanuel
Afable signed the resolution.

The PHP30.19 water rate represents an increase of approximately
600 percent from Maynilad's initial bid of PHP4.96 when it won
the right to supply water to Metro Manila's west zone during the
MWSS privatization in 1997.

CONTACT:

Maynilad Water Services Inc.
Building G/F MWSI Building Street Katipunan Road
Area MWSS Compound, Balara
Town Quezon City
Philippines


METRO PACIFIC: Unveils Amended SEC Form 23-B
--------------------------------------------
Further to Circular for Brokers No. 4964-2004 dated November 10,
2004, a shareholder of Metro Pacific Corporation (MPC) furnished
the Exchange a copy of its Amended SEC Form 23-B (Statement of
Changes in Beneficial Ownership of Securities).

A copy of the said document shall be made available at
http://www.pse.com.ph/html/ListedCompanies/pdf/MPC_120204_benown
.pdf

For your information,
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department
Noted by:
JURISITA M. QUINTOS
Senior Vice President

CONTACTS:

Metro Pacific Corporation
10/F MGO Bldg., Legazpi cor. dela Rosa St.,
Legazpi Village 0721 Makati City, Philippines
Telephone No.: 888-0888
Fax No.: 888-0830


PHILIPPINE BANK: PBCom President Resigns, Transfers to HSBC
-----------------------------------------------------------
Former Philippine Bank of Communications (PBCom) President
Isidro C. Alcantara Jr. will transfer to the Hong Kong and
Shanghai Banking Corporation (HSBC) in Manila as its New Senior
Vice President and Head of Corporate and Institutional Banking
starting January 5, 2005, the Philippine Star reports.

The bank has not yet appointed anyone to fill the vacated post.
PBCom Executive Vice President Angel M. Corpus, however, remains
as the bank's officer-in-charge (OIC).

Meanwhile, PBCom officials said that with the successful
disposal of the bad assets, they hope to record positive
earnings by yearend.

In a recent TCR-AP report, the bank earned PhP13.73 million
during the third quarter of this year, versus a net loss of
Php146.42 million in the same period in 2003.

CONTACT:

Philippine Bank of Communications
PBCom Tower, 6795 Ayala Ave. Cor. Herrera St., 1226 Makati City
Phone No:  830-7000 (TL)
Fax No:  818-2576 (Telefax)
E-mail Address:  info@pbcom.com.ph
Web site:  http://www.pbcom.com.ph  
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Securities Transfer Services, Inc.


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


CAPITALAND LIMITED: Establishes Additional Indirect Subsidiary
--------------------------------------------------------------
Capitaland Limited revealed at the Singapore Stock Exchange the
establishment of an indirect wholly owned subsidiary, Capitaland
Retail Hong Kong Investments Pte. Limited.

The Board of Directors of CapitaLand Limited announced the
establishment of the following indirect wholly owned subsidiary
incorporated in Singapore:

Name: CapitaLand Retail Hong Kong Investments Pte. Limited

Principal Activity: Investment holding

Authorized Share: SG$100,000 divided into 100,000 ordinary
shares of Capital SG$1 each

Issued and: SG$1 comprising 1 ordinary share of SG$1 Paid-up
Share Capital CRHKI is a wholly owned subsidiary of CapitaLand
Retail Limited, itself a wholly owned subsidiary of CapitaLand.

By Order of the Board
Tan Wah Nam
Company Secretary
1 December 2004


CAPITALAND LIMITED: Confirms Reduction of Unit's Capital
--------------------------------------------------------
The Board of Directors of CapitaLand Limited announced that the
High Court of the Republic of Singapore had on 8 November 2004
confirmed the reduction of the issued and paid-up share capital
of Areca Investment Pte Ltd. A Company incorporated in Singapore
and a direct wholly-owned subsidiary of CapitaLand.

The Capital Reduction is effected through:

(a) the capitalization of a sum of SG$60,206,733 forming part of
the share premium account of Areca, which is to be applied in
paying up in full at par for 60,206,733 unissued ordinary shares
of SG$1 each in the capital of Areca, and the Additional Shares
be allotted and issued credited as fully paid up to CapitaLand;

(b) subject to and forthwith upon the preceding paragraph (a)
taking effect, the issued and paid up capital of Areca
(including, for the avoidance of doubt, the Additional
Shares) be reduced from SG$61,880,883 divided into 61,267,000
ordinary shares of SG$1 each fully paid and 613,883 redeemable
preference shares of SG$1 each fully paid to S$100,000 divided
into 100,000 ordinary shares of SG$1 each fully paid, and that
such reduction be effected by:

     (i) canceling 60,266,570 of the said ordinary shares
constituting part of the total issued and fully paid-up share
capital of Areca, which have been lost or are un-represented by
available assets of Areca;

     (ii) to the extent to which such sum arising from the
cancellation of the said 60,266,570 ordinary shares pursuant to
the preceding sub-paragraph (i) is not applied in writing-off
the accumulated losses of Areca, the balance shall be
transferred to a Capital Reserve which may be capitalized in
accordance with the Articles of Association of Areca, or applied
in writing off any future accumulated losses of Areca; and

     (iii) canceling 900,430 of the said ordinary shares and
613,883 of the said redeemable preference shares constituting
part of the total issued and fully paid-up share capital of
Areca, and the aggregate sum of SG$1,514,313 arising from such
reduction of the share capital be returned to CapitaLand; and

(c) subject to and contingent upon the preceding paragraph (b)
taking effect, the sum standing to the credit of the share
premium account of Areca be reduced by a sum of SG$613,269,117
and that such reduction be effected by returning SG$999 to
CapitaLand for each issued redeemable preference share, which is
cancelled pursuant to the preceding paragraph (b)(iii).

A copy of the Order of Court confirming the Capital Reduction
was lodged with the Accounting and Corporate Regulatory
Authority on 1 December 2004, and accordingly the Capital
Reduction became effective on such date.

The Capital Reduction is not expected to have a material impact
on the net tangible assets or earnings per share of the
CapitaLand Group for the financial year ending 31 December
2004.

By Order of the Board
Tan Wah Nam
Company Secretary
1 December 2004


CAPITALAND LIMITED: Posts Real Estate Forum Presentation
--------------------------------------------------------
Capitaland Limited posted at the Singapore Stock Exchange a
presentation on the UBS Global Real Estate Forum last November
2004 entitled, "Championing REITs & Property Funds in Singapore
& Asia - The CapitaLand experience".

It detailed among others on the favorable factors in the Asian
market REIT and property funds, the overview of the general
economy and its predicted forecast.   

To view the entire document click on:
http://bankrupt.com/misc/tcrap_capitalandlimited120204.pdf

Submitted by:
Tan Wah Nam   
Company Secretary   


CHINA INFORMATION: Winding Up Order Made
----------------------------------------
In the matter of China Information Centre (Singapore) Pte Ltd.,
a winding up order was made on the 12th day of November 2004.

Name and address of Liquidator: The Official Receiver of
URA Centre (East Wing) 45 Maxwell Road #06-11 Singapore 069118

Messrs Bl Tok & Co.
Solicitors for the Petitioner

This Singapore Government Gazette notice is dated November 26,
2004.


DUBLINK MARKETING: Receives Winding Up Order
--------------------------------------------
In the matter of Dublink Marketing Pte Ltd, a winding up order
was made on 12th day of November 2004.

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

Messrs Joo Toon & Co
Solicitors for the Petitioner

This Singapore Government Gazette notice is dated November 26,
2004.


GENEMEDIX PLC: Submits 9-Month Interim Results
----------------------------------------------
Genemedix Plc submitted its interim results for nine months to
August 31, 2004 at the Singapore Stock Exchange.   

The UK biopharmaceutical Company holds operations in Europe and
Asia and with a joint listing in London and Singapore Stock
Exchange reported a net loss GBP4.2 million.

To view the entire document click on:
http://bankrupt.com/misc/tcrap_genemedixplx113004.pdf

Submitted by:
Market Control Department   
Designation SGX-ST   


KLW HOLDINGS: Details Disposal, Leaseback of Property
-----------------------------------------------------
KLW Holdings Limited details at the Singapore Stock Exchange
among others the agreement entered by the Company with Mapletree
Trustee Pte Ltd, the background of the supplementary agreement
and its financial effects.

(1) Introduction
Further to our announcements dated 28 July 2004, 29 July 2004,
13 August 2004 and 19 October 2004, as well as the circular to
shareholders dated 20 September 2004, pursuant to which a
shareholders' resolution was duly passed (as announced on 8
October 2004), the Board of Directors of KLW Holdings Limited
wishes to announce that KLW Wood Products Pte Ltd and Mapletree
Trustee Pte Ltd have entered into two supplementary agreements
dated 25 November 2004 and 30 November 2004 to supplement and
amend the terms of the Put and Call Option Agreement dated 28
July 2004.

(2) Background to and terms of the 1st Supplementary Agreement
Pursuant to the Put and Call Option Agreement, Mapletree had
conducted a building audit and technical due diligence on the
Property and the Mechanical Equipment (terms as defined in the
Put and Call Option Agreement), and discovered that certain
rectification works are required in relation to the Property and
Mechanical Equipment. Mapletree had paid an option fee of
SG$15,666.67 to KLWS' solicitors upon the execution of the Put
and Call Option Agreement, which was to be applied as part of
the deposit payable by Mapletree upon the execution of the Sale
and Purchase Agreement.

In the light of Rectification Works to be conducted by KLWS,
both Mapletree and KLWS executed the 1st Supplementary
Agreement, whereby Mapletree agreed to pay to KLWS an additional
sum of SG$767,666.63 upon the execution of the 1st Supplementary
Agreement. It has been agreed that KLWS shall utilize the
Additional Option Fee solely for the purpose of payment of the
Rectification Works. The said Additional Option Fee was received
by KLWS on 25 November 2004.

The Additional Option Fee, together with the previous option fee
of SG$15,666.67 received pursuant to the signing of the Put and
Call Option Agreement, shall form part of the deposit (being 10%
of the purchase price of SG$15,666,666.00 for the Property and
Mechanical and Electrical Equipment) payable by Mapletree upon
the execution of the Sale and Purchase Agreement.

(3) Terms of the 2nd Supplementary Agreement The Board of
Directors further wishes to announce that both KLWS and
Mapletree have agreed to extend the Long Stop Date from 30
November 2004 to 6 December 2004 by way of the 2nd Supplementary
Agreement due to certain conditions precedent not yet being
fulfilled.

(4) Financial Effects
The Board of Directors have disclosed the financial effects
arising from sale of the Property and Mechanical and Electrical
Equipment through its previous announcements on 28 July 2004, 29
July 2004 and 13 August 2004 as well as through its circular to
shareholders dated 20 September 2004. The 1st and 2nd
Supplementary Agreements are not expected to have any material
financial impact on the performance of the Group.

(5) Documents available for inspection. Copies of the 1st and
2nd Supplementary Agreements respectively will be made available
for inspection at the Company's registered office at 19, Senoko
Loop, Singapore 758169 for a period of three months from the
date of this announcement.

By Order of the Board
Mr. Lee Boon Teck
Director
KLW Holdings Limited
1 December 2004


LIANG HUAT: Posts Monthly Update on Financial Position
------------------------------------------------------
Liang Huat Aluminium Ltd posted an update on the group's
financial position at the Singapore Stock Exchange. It detailed
the progress of the debt restructuring plan and / or the
negotiations with its creditors.   
    
The Company is continuing to discuss with its major banks on the
proposed terms of the Scheme of Arrangement. The banks are
currently reviewing the terms proposed by the Company and have
not expressed any objections to being included in the proposed
Scheme.

The Company will make prompt and timely announcements of further
developments concerning its restructuring progress.    

Submitted by:
Tan Yong Kee   
Group Managing Director   


LNP ENGINEERING: Creditors to Submit Claims by December 28
----------------------------------------------------------
Notice is hereby given that the creditors of LNP Engineering
Plastics (Asia) Pte Ltd, which is being wound up voluntarily,
are required on or before the 28th day of December 2004, to send
in their names and addresses, with particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to the undersigned, the Liquidator of the said Company.

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

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

Dated this 26th day of November 2004.

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


MAPICS SINGAPORE: Creditors to Prove Debts by December 30
---------------------------------------------------------
Notice is hereby given that the creditors of Mapics Singapore
Pte Ltd, which is being wound up voluntarily, are required on or
before the 30th day of December 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned, the Liquidators of the said Company.

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

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

Dated this 30th day of November 2004.

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


PANPAC MEDIA: CEO Koo Kok Wing Resigns
--------------------------------------
The Board of Directors of Panpac Media Group Limited announced
that Mr. Koo Kok Wing has resigned as the Chief Operating
Officer of the Company on 30 November 2004.

The Board wishes to place on record its appreciation of Mr.
Koo's services to the Company and wishes him success in his
future endeavors.
   
Submitted by:
Ricky Ang Gee Hing   
Group Md And Ceo   


SUNSHINE INVESTMENTS: Creditors to Prove Debts by January 3
-----------------------------------------------------------
Notice is hereby given that the Creditors of Sunshine
Investments Pte Ltd, which is being wound up voluntarily, are
required on or before 3rd January 2005, to send in their names
and addresses and the particulars of their debts or claims and
the names and addresses of their solicitors (if any) to the
undersigned, the Liquidators of the Company.

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

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

Dated this 1st day of December 2004.

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


TRANS-UNITED CORP: Faces Liquidation Process
--------------------------------------------
Trans-United Corp, incorporated by 12 bus operators 3 years ago,
is facing liquidation after a year in judicial management,
reports the Strait Times.

Court appointed judicial manager Ferrier Hodgson, which
specializes in handling insolvent companies, has stated that
debts incurred by the transport group has reached at least
SG$11.5 million, established from the submission of proofs from
creditors and as of present claims are still being filed.

Ferrier Hodgson sold the Company's 265 buses to Woodlands
Transport Service for SG$5.2 million and collected SG$2.2
million owed to the transport operator in order to raise more
than SG$7 million to pay off Company debts.

Of the SG$7 million raised, only SG$1.5 million were left after
payments and expenses, that comprise SG$4.8 million redeemed by
banks and nearly SG$600,000 Ferrier Hodgson fees.

Timothy Reid, a Ferrier Hodgson employee handling the account,
said that it is unlikely that all creditors will be paid and
that even the banks may not possibly get back all that were
loaned.

On October 27, majority of the creditors of the Company voted to
place the Company under liquidation despite the knowledge that
they may not get back their investments.

Trans-United's financial woes started when OCBC Bank petitioned
for a special accountant to be appointed in handling its
operator finances, which led the Court to appoint Ferrier
Hodgson.

Trans-United sold its operator in whole or in part back in
January.

Company directors, including Chairman Harry Lim became bankrupt
as they made personal guarantees to Trans-United, which they had
hoped would one day be publicly listed


TRANSPARITY LIMITED: Issues Notice of Preferential Dividend
-----------------------------------------------------------
Transparity Limited has issued a notice of preferential
dividend.

Address of former registered office: 41 Science Park Road #04-03
The Gemini Singapore 117610

Name of Liquidators: Chee Yoh Chuang and Lim Lee Meng

Amount per centum: 100 percentum of all admitted preferential
claims pursuant to section 328 (1) (b) of the Companies Act,
Cap. 50. 53.1 percentum of all admitted preferential claims
pursuant to section 328 (1) (e) of the Companies Act, Cap. 50

First and final or otherwise: First and final

When payable: 2 December 2004

Where payable: Chio Lim & Associates
18 Cross Street
#08-01 Marsh & McLennan Centre,
Singapore 048423

Dated this 1st day of December 2004.

Chee Yoh Chuang
Lim Lee Meng
Liquidators


WANG COO-KIEN: Discloses AGM Resolutions
----------------------------------------
At an Extraordinary General Meeting of the members of Wang Coo-
Kien & Company Pte. Ltd. duly convened and held at 7500A Beach
Road #15-320, The Plaza, Singapore 199591 on 20 November 2004,
the following Special Resolutions were duly passed:

(1) That the Company be wound up voluntarily pursuant to Section
290 (1) (b) of the Companies Act, Cap. 50 and that Mr. Wang
Chwoe Wah, Mr. Wang Jwu Wah and Mdm. Heng Tung Hwa all of 7500A
Beach Road #15-320, The Plaza, Singapore 199591 be and are
hereby appointed Liquidators for the purpose of such winding up.

(2) That the Liquidators be authorized in their absolute
discretion to distribute to the contributories in specie all or
part of the assets of the Company and to exercise any of the
powers given by Section 272 (1) (b),(c), (d) and (e) of the
Companies Act, Cap. 50.

(3) That the Liquidators be indemnified by the Company against
all costs, charges, losses, expenses and liabilities incurred or
sustained by them in the execution and discharge of their duties
in relation thereto.

Dated this 22nd day of November 2004.

Wang Chwoe Wah
Chairman


WEARNES THAKRAL: Receiving Proofs Until December 10
---------------------------------------------------
Wearnes Thakral Pte Ltd. of registered office at 11 Collyer Quay
#10-02 The Arcade Singapore 049317, declared the last day of
receiving proofs.

Last day for Receiving Proofs: 10th December 2004.

Name of Liquidators: Mick Aw Cheok Huat and Neo Keng Jin.

Address: 11 Collyer Quay #10-02 The Arcade Singapore 049317.

This Singapore Government Gazette notice is dated November 26,
2004.


WEE POH: Presents Resolution of Ninth Annual General Meeting
------------------------------------------------------------
Wee Poh Holdings Limited presented to the Singapore Stock
Exchange the results of the Reconvened Ninth Annual General
Meeting.

The Board of Directors of Wee Poh Holdings Limited wishes to
announce that at the Reconvened Ninth Annual General Meeting of
the Company held today, all the Resolutions were duly passed
except for the following Resolutions 6, 7 and 8:

Resolution 6: Election of Yeung Chun Keung

Resolution 7: Election of Piak Boon Pin

Resolution 8: Election of Ng Chin Chow

By Order Of The Board
Chan Wang Kin
Managing Director
Dated: 2 December 2004


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T H A I L A N D
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BANGKOK MASS: Considering SET Listing by 2005
---------------------------------------------
Bangkok Mass Transit Authority PCL or BTS is planning to list on
the Stock Exchange of Thailand (SET) in 2005 to finance the
extension of its skytrain routes, Dow Jones reports, citing a
Company adviser.

The listing will follow the completion of the skytrain
operator's THB39 billion debt restructuring, which is currently
awaiting creditor approval.  The plan gained shareholders
approval last September.

The plan involves a debt reduction of THB8.5 billion, an
extension of the repayment period for the THB14 billion debt to
18 years from 12 years, a THB4.3 billion debt-to-equity swap,
and a conversion of THB12 billion debt into an 18-year
convertible debentures. The Company will then issue 120 million
new shares to facilitate the exercise of convertible debentures.

If the plan gained creditors' approval, BTS will submit the plan
to the Bank of Thailand's central debt restructuring committee
for consideration before an official agreement with the creditor
is sealed, said Anat Arbhabhirama, an adviser to the BTS board
of directors.

The debt restructuring should be completed by next year, Mr.
Anat said.  After the debt restructuring, BTS is expected to
swing to a net profit, paving the way for its listing on the
SET, said Mr. Anat.

CONTACT:

The Bangkok Mass Transit System PCL
1000 Phahonyothin Road
Lad Yao, Chatuchak
Bangkok 10900
Telephone: 0 2617 7300
Fax: 0 2617 7133, 0 2617 7135
BTS Hotline: 0 2617 7141-2
BTS Tourist Information Center: 0 2617 7340


JASMINE INTERNATIONAL: Details Exercise of Rights Warrants
----------------------------------------------------------
Jasmine International Public Company Limited informed the Stock
Exchange of Thailand (SET) on the details of the Company's
Exercise of 5,036,195,910 units of Rights Warrants.

(1) The Notification Period is during 8:30 a.m. to 3:30 p.m. on
the Company's business day on December 16 to 29, 2004.

(2) The Exercise Date is on December 30, 2004.

(3) Contact Place to exercise the Rights Warrants and to get the
Exercise Notice Forms is:

- Jasmine International Public Company Limited 200, Jasmine
International Tower, 29th Floor, Moo 4, Chaengwattana Road,
Pakkred Sub-district, Pakkred, Nonthaburi 11120, Thailand,
Telephone Number: (66 2) 502-3119-20, Fax Number: (66 2) 502-
3151 or download exercise notice form from www.jasmine.com

- Or at any office of the brokerage companies during the
Notification Period.

(4) The Exercise Ratio and the Exercise Price to subscribe the
Company's Common Shares:

1 Rights Warrant has a right to subscribe 1 Common Share of the
Company at the price of THB0.50 per share.

(5) Payment Method

The Warrant holders can pay by cash, cheques, drafts, bill of
exchanges or payment orders from banks which can be cashed in
Bangkok when called within 2 days and shall be made payable to
Jasmine International Public Company Limited.

Please be informed accordingly.
Authorized director                   
(Mr. Somboon Patcharasopak)                                    
Chaengwatana Planner Co., Ltd., the Plan Administrator of              
Jasmine International Public Company Limited                            

CONTACT:

Jasmine International Public Company Limited   
200 Fl. 30, Moo 4, Chaengwatthana Rd.,
Pak Kret, Nonthaburi    
Telephone: 0-2502-3000-7   
Fax: 0-2502-3150-2   
Web site: www.jasmine.co.th


TANAYONG: Reschedules Creditors' Meeting to December 21
-------------------------------------------------------
Pursuant to the order of the Central Bankruptcy Court on
December 30, 2003 on Tanayong Public Company Limited's business
reorganization and the Company's appointment as the planner on
March 15, 2004, the Company advised the Stock Exchange of
Thailand that the Plan has been prepared by the Planner and was
sent to the Official Receiver together with sufficient copies to
be sent to all the creditors having voting rights and the
debtor.

The Official Receiver decided to call for a meeting of creditors
with voting rights last November 16, 2004 at 9:30 a.m.  
Meanwhile, the Court had set November 29, 2004 as a date to
consider the plan.

At the meeting, one creditor requested that the meeting be
postponed since there were many creditors who proposed for the
revision of the material point of the Plan. Thus, the Official
Receiver gave an order to postpone the meeting to December 21,
2004 at 9:30 a.m. at meeting room No. 1105 11th floor Bangkok
Insurance Building in order to discuss whether to accept the
Plan or how to revise it.

Please be informed accordingly.

Yours sincerely,
Mr.Sudha Liptawat/Mr.Rangsin Kritalug
By Tanayong Public Company Limited
On behalf of the Planner of Tanayong Public Company Limited

CONTACT:

Tanayong Public Company Limited   
100-100/1 Moo 4, Km.14,Bangna-Trat Road,
Bang Plee, Samut Prakarn    
Telephone: 0-2273-8511-15   
Fax: 0-2273-8516-17   
Website: www.tanayong.co.th


THAI PETROCHEMICAL: PTT Agrees to Take 30% Stake
------------------------------------------------
PTT Plc informed the Finance Ministry that it is interested to
take a 30 percent stake in Thai Petrochemical Industry Public
Company Limited (TPI), Bangkok Post reports citing the
ministry's permanent secretary, Suparut Kawatkul.

The Ministry favors PTT to become TPI's new investor in order
for it to apply its industry expertise in managing TPI.  Mr.
Suparut said the ministry would allow PTT flexibility in
deciding whether to take the shares itself or as a partner with
other institutions.

While negotiating with other potential partners interested in
taking an investment stake in the Company, the ministry as the
TPI's plan administrator would conduct a due diligence study of
the Company's assets and operations, Mr. Suparut said.

"We want to try to have the restructuring move as quickly as
possible. It's not necessary to secure new partners first and
then do the due diligence. That will only waste time," Mr.
Suparut added.

Interested existing shareholders were directed by the Central
Bankruptcy Court to notify the ministry regarding new shares
subscription.

A total of 17 billion TPI shares will be allocated under the
restructuring plan, equal to a 90 percent stake. Shares will be
placed with creditors, existing retail and major shareholders as
well as new investors.  The ministry will have the final
authority on the share allocation.

CONTACT:

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







                            *********


S U B S C R I P T I O N  I N F O R M A T I O N

Troubled Company Reporter -- Asia Pacific is a daily newsletter
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Copyright 2004.  All rights reserved.  ISSN: 1520-9482.

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