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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

             Wednesday, February 16, 2005, Vol. 8, No. 33

                            Headlines

A U S T R A L I A

ABM PLASTICS: Former Workers Rally for Redundancy Entitlements
CAMTEC ELECTRONICS: Members Pass Winding Up Resolution
CHELSEA CORPORATION: Lays Out Agenda for Final Meeting
DENMAN BLUE: Members, Creditors to Meet February 18
D&K STAIT: Creditors Should Prove Claims February 18

DONYPAT PTY: Members Resolve to Wind Up Company
EMERALD I.T.: To Hold Final Meeting February 23
FABULOUS CARPETS: Members Agree to Wind Up Company
HENRY WALKER: Sells Indonesian Arm to Bumi Resources
K&O MUSTAFA: Appoints Liquidators for Winding Up Purposes

LANDMARK INTERNATIONAL: To Declare Final Dividend March 1
LEB PTY: Final General Meeting Set February 18
OPTIMUM FINANCIAL: Members Agree to Wind Up Company
PHYLAND GROUP: Members, Creditors Meeting Set February 18
PRIMELIFE CORPORATION: Court Validates Variation of Offer Period

RETAILX: Averts Liquidation as Sister Firms Go Under
SANTOS LIMITED: Inks New Gas Contract with Sunshine Gas
SATELLITE GROUP: Former Director Gets 2 1/2 Years Jail Term
SEQ DISTRIBUTORS: To Convene Final Meeting February 21
SMAJI MANAGEMENT: Final Dividend to be Declared March 10

STYLEKING PTY: Outlines Purpose of Meeting
TA HUDSON: Lays Out Final Meeting Agenda
TELCO LOGISTICS: Sets February 23 as Date of Final Meeting
THORNLANDS EGG: Final Meeting Set February 23
VALLEY VIEW: To Hear Liquidator's Report During Meeting

WINDCREEK PTY: Lays Out Agenda for Final Meeting
* ASIC Prosecutes 14 Negligent Victorian Company Directors


C H I N A  &  H O N G  K O N G

ASIAN TRADE: Invites Creditors to Prove Claims by March 4
ECYBERCHINA HOLDINGS: Company Secretary Resigns
EVEREST INTERNATIONAL: Net Asset Value at HK$0.06 per Share
FORTUNA INTERNATIONAL: Picks Emperor Securities as Facilitator
SKYNET HOLDINGS: Names Tai Fook Securities as Agent

WAH SANG: Delays Dispatch of Financial Results


I N D O N E S I A

TOTAL E&P: Asks Court Not to Issue Asset Preservation Order


J A P A N

JAPAN TOBACCO: To Scratch Seniority Factors from Wage System
MITSUBISHI MOTORS: Russian Sales Surge 130% in January
MITSUBISHI MOTORS: Gets Nod on Planned Capital Increase
MITSUBISHI MOTORS: U.S. Unit Hires Marketing Exec from Mercedes
PIONEER CORPORATION: Earnings Slump Pulls Down S&P Ratings

SANYO ELECTRIC: S&P Downgrades Outlook on Profitability Concerns


K O R E A

KOOKMIN BANK: S&P Revises Outlook to Stable
LG CARD: Upcoming Takeover Attracts Foreign, Domestic Buyers


M A L A Y S I A

BOUSTEAD HOLDINGS: Set to List Additional Shares Today
CEPATWAWASAN GROUP: Injunction Hearing Adjourned to March 7
HABIB CORPORATION: Resumes Shares Trading
I-BERHAD: Buys Back 3,300 Shares
JIN LIN: Trading of Shares Resumes

METROPLEX BERHAD: Issues Default Status Update
NAIM INDAH: Granted Listing of Additional Shares
NAM FATT: To List Additional 493,000 Shares
PADIBERAS NASIONAL: Notes Listing of More Shares
POS MALAYSIA: Resells 130,000 Treasury Shares

POS MALAYSIA: Bourse Halts Stock Trading Pending Announcement


P H I L I P P I N E S

ATLAS CONSOLIDATED: Lists Additional Common Shares
COLLEGE ASSURANCE: Given Two Months to Fulfill Promise
NATIONAL POWER: May be Forced to Carry VAT Obligations of IPPs
NATIONAL POWER: PSALM Picks Groups to Reevaluate Assets
PHILIPPINE LONG: Files "Amendment No. 10" to U.S. SEC

PHILIPPINE LONG: Lists Additional 2,956 Shares


S I N G A P O R E

DIGILAND INTERNATIONAL: Releases Half-year Results
HESHE HOLDINGS: Posts Half-year Financial Statement
PRECISION COLD: Lays Out Meeting Agenda
SPH MEDIAWORKS: Receives Winding Up Order
UNITED OVERSEAS: Clarifies News Article on Winding Up Petition


T H A I L A N D

KRUNG THAI: Details Transfer of Substandard Assets
KRUNG THAI: SET Allows Trading of Securities
PAE THAILAND: Explains Business Transactions
SIAM AGRO: Central Bankruptcy Court Hears Petition
SUNTECH GROUP: Given 45 Days to Submit Financial Report

     -  -  -  -  -  -  -  -

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


ABM PLASTICS: Former Workers Rally for Redundancy Entitlements
--------------------------------------------------------------
Former workers of collapsed ABM Plastics have been staging a
protest at the firm's plant since January 21 in a bid to claim
in full some AU$2.5 million in redundancy entitlements, the
Green Left relates.

ABM Plastics' receivership in November has left about 110
employees battling administrator GE Finance, which ordered them
to complete their last month of work, only to accept 20 cents to
the dollar on their redundancy entitlements.

The picket was set up to prevent printing firm Amcor Fibre
packaging from removing equipment it has bought after ABM
Plastics collapsed. Workers are furious that Amcor was able to
purchase the machinery for AU$6.5 million when the equipment is
worth AU$12 million.

The workers, who are members of the Australian Manufacturing
Workers Union's printing division and of the National Union of
Workers, are also disappointed that GE Finance withdrew from a
final agreement that would have sold ABM Plastics to a Company
that is interested to continue running the business and retain
more than half of the workforce.

Some of the picketing workers had been employed at ABM Plastics
for more than 25 years and are owed 18 months' worth of
redundancy entitlements.

CONTACT:

ABM Plastics (Aust) Pty Ltd
56 - 67 Tarnard Drive Braeside, VIC, 3195
Phone: 03 85879811
Fax: 03 9580 8469
E-mail: nasufc@abmflexibles.aust.com


CAMTEC ELECTRONICS: Members Pass Winding Up Resolution
------------------------------------------------------
At a general meeting of Camtec Electronics (WA) Pty Ltd (In
Liquidation) A.C.N. 103 710 603, duly convened and held on
January 5, 2005 the following special resolution was passed:

That the Company be wound up voluntarily and that Oren Zohar and
Brian McMaster, of Level 11, 37 St George's Terrace, Perth, be
appointed as joint and several liquidators for the purposes of
the winding up.

Dated this 10th day of January 2005

Oren Zohar
Liquidator
KordaMentha
Telephone: (08) 9221 6999


CHELSEA CORPORATION: Lays Out Agenda for Final Meeting
------------------------------------------------------
Notice is hereby given that a final meeting of creditors and
members of Chelsea Corporation Pty Ltd (In Liquidation) A.C.N.
084 105 911 is to be held at the office of SV Partners, Level
16, William Buck Centre, 120 Edward Street, Brisbane, in the
State of Queensland on February 25, 2005 at 11:00 a.m.

AGENDA

(1) Receive an account by the liquidators.

(2) To consider and if thought fit pass the following
resolution: that the books and records of the Company be
destroyed.

(3) General business.

Dated this 10th day of January 2005

Paul Sweeney
Terry Van Der Velde
Liquidators


DENMAN BLUE: Members, Creditors to Meet February 18
---------------------------------------------------
Notice is hereby given that pursuant to Section 509(1) of the
Corporations Act, a final meeting of members and creditors of
Denman Blue Pty Ltd (In Liquidation) A.B.N. 59 079 990 873 will
be held in the Boardroom of Andrew Dunner & Associates,
Chartered Accountants, 23 Erin Street, Richmond Victoria on
February 18, 2005 at 10:00 a.m.

The purpose of the meeting is to lay accounts before it showing
the manner in which the winding up has been conducted and the
property of the Company has been disposed of and of hearing any
explanation that may be given by the liquidator.

Dated this 17th day of January 2005

A. L. Dunner
Liquidator


D&K STAIT: Creditors Should Prove Claims February 18
----------------------------------------------------
Take notice that creditors of D&K Stait (Holdings) Pty Ltd (In
Voluntary Liquidation) A.C.N. 000 886 859, whose debt or claims
have not already been admitted are required on or before
February 18, 2005 to prove their debt or claims and to establish
any title they may have to priority by delivery or posting to
the liquidator address a formal proof of debt or claim in
accordance with Form 535 or 536 containing their respective
debts or claims. If they do not they will be excluded from:

(a) The benefit of any distribution made before the debts or
claims are proved or their priority is established; and

(b) Objecting to the distribution.

Form of Proof may be obtained from me.

Dated this 10th day of January 2005

Gary Bruce Holbrook
Liquidator
PKF
Level 3, Suite 301, 304-318 Kingsway,
Caringbah NSW 2229


DONYPAT PTY: Members Resolve to Wind Up Company
-----------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of the Members of Donypat Pty Ltd (In Liquidation) A.C.N. 090
793 669 held on December 20, 2004, it was resolved that the
Company be wound up voluntarily and that for such purpose,
Thomas Joseph Mullen of Thomas Mullen & Co, 828 Old Cleveland
Road, Carina, Qld 4152 be appointed Liquidator of the Company.

Dated this 4th day of January 2005

Thomas Joseph Mullen
Thomas Mullen & Co
828 Old Cleveland Road, Carina Qld 4152


EMERALD I.T.: To Hold Final Meeting February 23
-----------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that a final meeting of the members and
creditors of Emerald I.T. Pty Ltd (In Liquidation) A.C.N. 091
584 315 will be held at the offices of Dickson Carrello
Chartered Accountants, 1st Floor, London House, 216 St George's
Terrace Perth 6000 on February 23, 2005 at 10:00 a.m. for the
purpose of laying before the meeting an account showing how the
winding up has been conducted and the property of the Company
disposed and hearing any explanation thereof.

Dated this 10th day of January 2005

Melvyn M. Posner
Liquidator
c/- Dickson Carrello
Chartered Accountants
Telephone: (08) 6363 7700


FABULOUS CARPETS: Members Agree to Wind Up Company
--------------------------------------------------
Notice is hereby given that at a general meeting of Fabulous
Carpets and Floors Pty Ltd (In Liquidation) A.C.N. 097 518
691held on January 6, 2005 it was resolved that the Company be
wound up voluntarily and at a meeting of creditors held on the
same day pursuant to Section 497 of the Corporations Act 2001,
it was resolved that for such purpose Ronald Derek Gamble,
Chartered Accountant of 8th Floor, 256 St George's Terrace,
Perth be appointed liquidator.

Dated this 10th day of January 2005

Ronald Derek Gamble
Liquidator
BDO
8th Floor, 256 St George's Terrace,
Perth WA 6000
Telephone: 9360 4200


HENRY WALKER: Sells Indonesian Arm to Bumi Resources
----------------------------------------------------
Henry Walker Eltin's troubled Indonesian contract mining
business has been sold to an Indonesian firm for an undisclosed
amount, Dow Jones reports.

PT Bumi Resources, the parent company of mine operator Kaltim
Prima Coal, has recently acquired PT HWE Indonesia, the
Australian mining engineer firm's Indonesian arm.

The Indonesian consortium will assume all of HWE Indonesia's
liabilities, which means the Australian parent no longer needs
to inject around US$110 million into the business.

Last May, Henry Walker bagged a US$1.2 billion contract at Bumi
Resources' Bengalon coal project in Indonesia, one of its
biggest mining deals yet. But the contract came with US$110
million of upfront costs to cover plant and equipment.

HWE won the deal without financing in place, leaving the
Australian Company insolvent on a cash basis, even though it had
more than AU$600 million in assets at the time.

The Company went into voluntary liquidation on January 31 after
Swiss commodities house Glencore Finance AG withdrew an AU$100
million refinancing deal. McGrath Nicol & Partners was appointed
as administrators.

CONTACT:

Henry Walker Eltin Group Limited
33 Paul Street North
North Ryde, New South Wales 2113
Australia
Phone: +61 02 9887 6400
Fax: +61 02 9805 0945
Web site: http://www.hwe.com.au/


K&O MUSTAFA: Appoints Liquidators for Winding Up Purposes
---------------------------------------------------------
Notice is hereby given that at a general meeting of members of
K&O Mustafa Pty Ltd (In Liquidation) A.C.N. 010 020 194 above
Company held on December 10, 2004 it was resolved that the
Company be wound up voluntarily and that Jason Bettles and Susan
Carter, of Downie Insolvency, Level 6, 50 Cavill Avenue, Surfers
Paradise, Qld be appointed Liquidators for the purposes of such
winding up.

Dated this 10th day of January 2005

Jason Bettles
Liquidator
Downie Insolvency
Web site: www.downieinsolvency.com.au


LANDMARK INTERNATIONAL: To Declare Final Dividend March 1
---------------------------------------------------------
A first and final dividend in respect of priority unsecured
creditors is to be declared on March 1, 2005 for Landmark
International (Aust) Pty Ltd (In Liquidation) A.C.N. 059 226
185.

Creditors who were not able to formally prove their debt or
claims will be excluded from the benefit of the dividend.

Dated this 10th day of January 2005

Nick Combis
Liquidator
Vincents
Chartered Accountants
Level 27, 239 George Street, Brisbane Qld 4000.
Telephone: (07) 3854 4555
Facsimile: (07) 3236
2452,
E-mail: ncombis@vincents.com.au


LEB PTY: Final General Meeting Set February 18
----------------------------------------------
Notice is hereby given that in accordance with Section 509 of
the Corporations Act, a Final General Meeting of LEB Pty Ltd
A.C.N. 009 724 001 will be held at the Offices of the
Liquidator, Suite 12, 220 Boundary Street, Spring Hill, Qld 4000
on February 18, 2005 at 10:00 a.m. for the purpose of laying
before the meeting, accounts showing how the winding up has been
conducted and the property of the Company disposed, and giving
any explanation thereof.

Dated this 6th day of January 2005

Kenneth Scott Finlayson
Liquidator


OPTIMUM FINANCIAL: Members Agree to Wind Up Company
---------------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of the Members of Optimum Financial Consulting Pty Ltd (In
Liquidation) A.C.N. 090 793 669 held on December 20, 2004, it
was resolved that the Company be wound up voluntarily and that
for such purpose, Thomas Joseph Mullen of Thomas Mullen & Co,
828 Old Cleveland Road, Carina, Qld 4152 be appointed Liquidator
of the Company.

Dated this 4th day of January 2005

Thomas Joseph Mullen
Thomas Mullen & Co
828 Old Cleveland Road,
Carina Qld 4152


PHYLAND GROUP: Members, Creditors Meeting Set February 18
---------------------------------------------------------
Notice is hereby given that a final combined meeting of the
members and creditors of Phyland Group Pty Ltd (In Liquidation)
A.C.N. 058 279 888 will be held at the offices of Knights
Insolvency Administration, 14th Floor, Brisbane Club Tower, 241
Adelaide Street, Brisbane Qld 4001 on Friday, February 18, 2005
at 3:00 p.m., to receive an account made up by the Liquidator
showing how the winding up has been conducted, how the property
of the Company has been disposed of, to receive any explanation
required thereof and any other business.

Dated this 11th day of January 2005

Trevor John Schmierer
Liquidator


PRIMELIFE CORPORATION: Court Validates Variation of Offer Period
----------------------------------------------------------------
Primelife Corporation Limited has on Friday obtained orders from
the New South Wales Supreme Court declaring that the notice of
variation issued by on 31 January 2005 (Notice) extending the
offer period for its bid for Aevum Limited (Aevum) was not
invalid.

Accordingly:

(a) the offer period expires on march 9, 2005 unless further
extended by Primelife; and

(b) the date for giving notice of the status of the conditions
of the offer is extended to March 2, 2005.

A notice informing Aevum shareholders who have accepted the bid
of their rights to withdraw their acceptance and procedures to
be followed to withdraw the acceptance will be lodged with ASIC,
released to the Australian Stock Exchange and mailed to Aevum
shareholders by February 16, 2005.

Gregor Dixon
Company Secretary
Primelife Corporation Limited

CONTACT:

Primelife Corporation Limited
Melbourne
Victoria, Victoria 3000
Australia
Phone: +61 3 9618 5500
Fax: +61 3 9618 5599
Web site: http://www.primelife.com.au/


RETAILX: Averts Liquidation as Sister Firms Go Under
----------------------------------------------------
Controversial RetailX has managed to escape liquidation as three
of its sister firms are bound to be wound up, according to The
New Zealand Herald.

The application to wind up the listed management firm was
withdrawn after counsel Pete Mulinder told the High Court at
Christchurch that an agreement has been reached between the
Company and its creditors.

The settlement with accountants Hadlee Kippenberger & Partners
was finalized last Thursday but fell short of the $15,734 owed
to it by RetailX.

Last week, the New Zealand Exchange temporarily halted RetailX's
shares until the firm filed its half-year report.

Meanwhile, three other companies in the business empire of Mark
Taylor, including The Building Depot, are reportedly to be wound
up.

Associate Judge Tony Christiansen of the High Court of
Christiansen on Monday approved applications to liquidate the
do-it-yourself chain and the Taylor family's companies, Lennox
Corporation and Kiwi Management.

The court was told that negotiations between creditors and The
Building Depot, Lennox Corporation and Kiwi management had all
failed.

The Building Depot, run by sole director Taylor, was
unexpectedly put into receivership last September at the request
of ANZ National Bank, leaving debts of more than $8 million.

It went under the following month when only one of its eight
stores, in Hamilton, had been sold as a going concern.

RetailX owned 10 percent of The Building Depot, with Taylor and
his wife owning the remainder.

CONTACT:

RetailX Limited
15 North Ave., Devonport
Auckland, New Zealand
Phone: 0800 244 244


SANTOS LIMITED: Inks New Gas Contract with Sunshine Gas
-------------------------------------------------------
Sunshine Gas Limited (via a wholly owned subsidiary, Interstate
Pipelines Pty Ltd) announced in a press release that it has
entered into anew contract with Santos QNT Pty Limited for the
sale of gas from Roma Shelf in Queensland.

The additional sales commenced on Dec. 1, 2004 and will involve
up to 23& TJ of gas (Sunshine share) to Dec. 31, 2005 along with
increased hydrocarbon liquids production.

This new gas sales contract is in addition to existing contracts
and will provide increased revenue for the Company.

Sunshine Gas acquires Interstate Pipelines Pty Ltd and
associated Roma Shelf interests in August 2003.

CONTACT:

Santos Limited
Ground Floor, Santos
House, 91 King William Street,
Adelaide, S.A. 5000
Web site: http://www.santos.com.au/


SATELLITE GROUP: Former Director Gets 2 1/2 Years Jail Term
-----------------------------------------------------------
Mr. Jeffrey Lucy, Chairman of the Australian Securities and
Investments Commission (ASIC), announced that Mr. Gregory Joseph
Fisher, the former Managing Director of the failed Company, The
Satellite Group Limited (Satellite), was sentenced in the Sydney
District Court to two and a half years jail.

Mr. Fisher will be released after six months and must enter into
a two-year good behavior bond.

Mr. Fisher, 39 years old, of Edgecliff, New South Wales, was
sentenced after being found guilty by a jury on six charges of
making improper use of his position as an officer of Satellite
to gain an advantage for himself.

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

"The jailing of Mr. Fisher should remind directors about their
corporate governance responsibilities," said Mr. Lucy.

"Directors of companies are entrusted with important
responsibilities, and if they abuse their positions and seek to
take financial advantage, they should remember that ASIC will
take the appropriate action.

"Mr. Fisher has misappropriated a significant sum of the
Company's funds and in doing so, blatantly abused his
responsibilities as a director.

"ASIC is serious about ensuring that proper standards of
corporate governance are maintained, and that those who breach
those standards are made accountable," Mr. Lucy said.

The Commonwealth Director of Public Prosecutions prosecuted the
matter.


SEQ DISTRIBUTORS: To Convene Final Meeting February 21
------------------------------------------------------
Take note that the affairs of SEQ Distributors Pty Ltd (In
Liquidation) A.C.N. 066 206 611 are now finalized, and pursuant
to Section 509(1) of the Corporations Act, 2001, a final meeting
of members and creditors of the Company will be held at the
offices of Lucas & Currie Chartered Accountants, Level 8, 100
Edward Street, Brisbane, Queensland, on Monday, February 21,
2005 at 10:00 a.m.

The purpose of the meeting is to table an account indicating how
the winding up has been conducted and the property of the
Company disposed of and giving explanations thereof.

Dated this 10th day of January 2005

P. A. Lucas
Liquidator


SMAJI MANAGEMENT: Final Dividend to be Declared March 10
--------------------------------------------------------
A first and final dividend for ordinary unsecured creditors is
to be declared on March 10, 2005 for Smaji Management Pty Ltd
(Subject To Deed Of Company Arrangement) A.C.N. 001 530 614.

Creditors who were not able to formally prove their debt or
claims will be excluded from the benefit of the dividend.

Dated this 10th day of January 2005

Jonathan Mcleod
Deed Administrator
c/- Knights Insolvency Administration
Level 14, Brisbane Club Tower,
251 Adelaide Street,
Brisbane Qld 4000


STYLEKING PTY: Outlines Purpose of Meeting
------------------------------------------
Notice is hereby given pursuant to section 509 of the
Corporations Act 2001 that a general meeting of the members and
creditors being the annual and final meeting of Styleking Pty
Ltd (In Liquidation) A.C.N. 098 545 487 will be held at the
offices of G T Lean & Associates, The Fitzgerald Centre, 424
Fitzgerald Street, North Perth, WA 6006 on Tuesday, February 8,
2005 at 10:00 a.m.

The purpose of the meeting is:

(a) Having an account laid before members and creditors showing
the manner in which the winding up has been conducted and the
property of the Company disposed of;

(b) Approve the final remuneration of the liquidator; and

(c) Hearing any explanations that may be given by the
liquidator.

Dated this 6th day of January 2005

G. T. Lean
Liquidator


TA HUDSON: Lays Out Final Meeting Agenda
----------------------------------------
Notice is hereby given that a final meeting of creditors and
members of TA Hudson Pty Ltd (In Liquidation) A.C.N. 065 203 750
is to be held at the office of SV Partners, Level 16, William
Buck Centre, 120 Edward Street, Brisbane, in the State of
Queensland on February 25, 2005 at 11:30 a.m.

AGENDA

(1) Receive an account by the liquidators.

(2) To consider and if thought fit pass the following
resolution: that the books and records of the Company be
destroyed.

(3) General business.

Dated this 10th day of January 2005

Paul Sweeney
Terry Van Der Velde
Liquidators


TELCO LOGISTICS: Sets February 23 as Date of Final Meeting
----------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that a final meeting of the members and
creditors of Telco Logistics & Communication Pty Ltd (In
Liquidation) A.C.N. 096 813 919 will be held at the offices of
Dickson Carrello Chartered Accountants, 1st Floor, London House,
216 St George's Terrace Perth 6000 on February 23, 2005 at 10:30
a.m. for the purpose of laying before the meeting an account
showing how the winding up has been conducted and the property
of the Company disposed and hearing any explanation thereof.

Dated this 10th day of January 2005

Melvyn M. Posner
Liquidator
c/- Dickson Carrello
Chartered Accountants
Telephone: (08) 6363 7700


THORNLANDS EGG: Final Meeting Set February 23
---------------------------------------------
Notice is given that a final meeting of members of Thornlands
Egg Farm Pty Limited (In Liquidation) A.C.N. 009 930 947 will be
held at the offices of Ernst & Young, Level 5, Waterfront Place,
1 Eagle Street, Brisbane on Wednesday, February 23, 2005 at
10:00 a.m.

The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the Company disposed of, and for hearing any
explanation that may be given by the Liquidators.

Dated this 6th day of January 2005

Justin Denis Walsh
Liquidator
Thornlands Egg Farm Pty Limited (In Liquidation)
Ernst & Young
Level 5, Waterfront Place, 1 Eagle Street,
Brisbane Qld 4000
Telephone: (07) 3011 3333


VALLEY VIEW: To Hear Liquidator's Report During Meeting
-------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that a final meeting of the members and
creditors of Valley View Flowers Pty Ltd (In Liquidation) A.C.N.
009 463 512 will be held at the offices of Dickson Carrello
Chartered Accountants, 1st Floor, London House, 216 St George's
Terrace Perth 6000 on February 23, 2005 at 9:30 a.m. for the
purpose of laying before the meeting an account showing how the
winding up has been conducted and the property of the Company
disposed and hearing any explanation thereof.

Dated this 10th day of January 2005

Melvyn M. Posner
Liquidator
c/- Dickson Carrello
Chartered Accountants
Telephone: (08) 6363 7700


WINDCREEK PTY: Lays Out Agenda for Final Meeting
------------------------------------------------
Notice is hereby given that pursuant to Section 509(1) of the
Corporations Act, the final meeting of the members of Windcreek
Pty Ltd (In Liquidation) A.C.N. 057 997 458 will be held at the
offices of Pitcher Partners, Level 21, 300 Queen Street,
Brisbane on February 22, 2005 at 10:00 a.m.

AGENDA

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

Dated this 18th day of January 2005

J. E. Scott
Liquidator


* ASIC Prosecutes 14 Negligent Victorian Company Directors
----------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
prosecuted 14 Victorian Company directors for failing to assist
the liquidators of their failed companies, and fines and costs
in excess of AU$20,000 were imposed by the Melbourne Magistrates
Court.

The 14 Company officers failed to provide liquidators with key
pieces of information relating to the companies' finances and
history, which hampered the liquidators in assessing how much
the failed companies might be able to return to creditors.

"ASIC is committed to ensuring that liquidators are given the
necessary support to undertake their jobs, and that the
interests of creditors and employees of failed companies are
protected," said ASIC's Director of Complaints Compliance
Actions, Mr. Adrian Borchok.

The names of the Victorian Company directors convicted are
available at www.asic.gov.au/summaryprosecutions or
http://bankrupt.com/misc/TCRAP_summaryprosecutions021505.pdf.


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

ASIAN TRADE: Invites Creditors to Prove Claims by March 4
---------------------------------------------------------
Notice is hereby given that the creditors of Asian Trade Agents
Limited whose debts or claims have not already been admitted are
required on or before March 4, 2005 to prove by affidavit their
debts or claims by sending in their names, addresses and
descriptions and full particulars of their debts or claims in
accordance with Form 63A of the Companies (Winding Up) Rules.

They should also send in the names and addresses of their
Solicitors (if any) to the undersigned Liquidators of the said
Company.  If so required by notice in writing from the said
Liquidators, they to come in personally or by their Solicitiors
or duly authorized Representative and prove their said debts or
claims and to establish any title they may have to priority at
such time and place as shall be specified in such notice.

In default of complying with this notice, such creditors will be
excluded from the benefit of any distribution made before such
debts or claims are proved and/or from objecting to any
distribution made before such priorities are established.

Dated this 4th day of February 2005

Natalia KM Seng and Susan YH Lo
Joint and Several Liquidator
28/F, Bank of East Asia Harbour
View Centre, 56 Gloucester Road,
Wanchai, Hong Kong


ECYBERCHINA HOLDINGS: Company Secretary Resigns
-----------------------------------------------
The Board of Directors of eCyberChina Holdings Limited announced
that Mr. Mui Chok Wah resigned as a Company secretary due to his
personal reasons effective February 12, 2005.

Mr. Mui confirmed that there is no any matter connected with his
resignation that needs to be brought to the attention of
shareholders of the Company.  Mr. Mui and the Board confirmed
that there is no disagreement mutually.

The Board takes this opportunity to thank Mr. Mui for his past
valuable contribution and services to the Company during his
term of office.

As at the date of the this announcement, the executive directors
of the Company are Mr. Lu Liang, Mr. Ng Yan, Mr. Tao Wei Ming,
Mr. Tsang Kar Tong and the independent non-executive directors
of the Company are Mr. Cheng Seung Hing and Mr. Cheng Kwong
Choi, Alexander.

By Order of the Board
eCyberChina Holdings Limited
Tsang Kar Tong
Director

Hong Kong, February 12, 2005

CONTACT:

Ecyberchina Holdings Limited
18 Harcourt Road
3206 Bank of America Tower
Hong Kong
Web site: http://www.csgsys.com/


EVEREST INTERNATIONAL: Net Asset Value at HK$0.06 per Share
-----------------------------------------------------------
As at January 31, 2005, the unaudited consolidated net asset
value per share of Everest International Investments Limited was
approximately HK$0.06.

Hong Kong, February 14, 2005

As at the date of this announcement, the directors of the
Company are Messrs. Wang Chun Lin being the Executive Director,
Messrs. Luk Cheong, Wang Annie and Li Jian Wei being the Non-
Executive Directors, Messrs. Li Man Nang, Wang Tianye and Fang
Tsz Ying being the Independent Non-Executive Directors.


FORTUNA INTERNATIONAL: Picks Emperor Securities as Facilitator
--------------------------------------------------------------
The Stock Exchange has received a message from Fortuna
International Holdings Limited, which is reproduced as follows:

In order to alleviate the difficulties arising from the
existence of odd lots from the change in board lot size of
Shares, the Company has agreed to procure Emperor Securities
Limited to stand in the market to provide matching services for
the odd lots of Shares on a best effort basis during the period
from 1st February 2005 to 28th February 2005 (both days
inclusive).

Shareholders who wish to take advantage of this matching
services either to top up or sell their holdings of Shares may
contact Mr. Wilson Lee or Ms. Liza Yan of Emperor Securities
Limited at 24th Floor, Emperor Group Centre, 288 Hennessy Road,
Wanchai, Hong Kong at telephone number (852) 2836-2601 or (852)
2836-2602 respectively. Share certificates in board lot of 2,000
Shares will continue to be evidence of entitlement to the Shares
and be valid for trading, delivery and settlement.

There will be no new Share certificate issued as a result of the
change in board lot size, and therefore no arrangement for free
exchange of existing Share certificates in board lots of 2,000
Shares for new Share certificates in board lots of 20,000
Shares. Save and except for the change in the number of Shares
for each board lot, new certificates of Shares will have the
same format and colour as the existing certificates of Shares."

CONTACT:

Fortuna International Holdings Limited
Suite 3301
Bosco Tower 1, Lippo Centre
Vincent 89 Queensway
Hong Kong


SKYNET HOLDINGS: Names Tai Fook Securities as Agent
---------------------------------------------------
The Hong Kong Stock Exchange has received a message from Skynet
(International Group) Holdings Limited, which is reproduced as
follows:

"In order to facilitate the trading of odd lots of the
Consolidated Shares as a result of the Capital Reorganization
and the Open Offer, Skynet (International Group) Holdings
Limited has appointed Tai Fook Securities Company Limited as an
agent.

The appointment is made in order to match, on a "best efforts"
basis, the sale and purchase of odd lots of the Consolidated
Shares arising from the Capital Reorganization and the Open
Offer from Friday, January 28, 2005 up to and including
Wednesday, February 23, 2005.

Such arrangement is to facilitate Shareholders who wish to
dispose of or top up their odd lots of Consolidated Shares.

Shareholders who wish to take advantage of this facility should
contact Mr. Gilbert Lam of Tai Fook Securities Company Limited
at 25th Floor, New World Tower, 16-18 Queen's Road, Central,
Hong Kong (Tel: 2160 9963) during the period. Shareholders
should note that the matching of the sale and purchase of odd
lots of Consolidated Shares is not guaranteed.

Shareholders are recommended to consult their licensed
securities dealers, bank managers, solicitors, professional
accountants or other professional advisers if they are in any
doubt about the facility described above.


WAH SANG: Delays Dispatch of Financial Results
----------------------------------------------
Wah Sang Gas Holdings (8035) advised the Infocast Financial News
that the announcements of its fiscal 2004 third-quarter results,
2004 annual results, 2005 first-quarter results and 2005 interim
results and the dispatch of the reports will be further delayed
until further notice as it is still in the process of compiling
the necessary information required by its auditors for the
purposes.

The Hong Kong Stock Exchange reserves its right to take
appropriate actions against the Company or its directors in
respect of the said breaches.

Trading in the shares of the Company will remain suspended until
further notice.


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

TOTAL E&P: Asks Court Not to Issue Asset Preservation Order
-----------------------------------------------------------
Total E&P Indonesia asked the Commercial Court to reject its two
former contractors' demands to issue an asset preservation
order, following a bankruptcy petition filed by the contractors,
the Jakarta Post reports.

The Company's defense lawyer Todung Mulya Lubis said the assets,
which the contractors want to be seized, belong to the state
under supervision of the Oil & Gas Implementing Body (BP Migas).
Therefore based on prevailing Law No. 1/2004 on the state
treasury, assets belonging to the state cannot be confiscated by
any party.

The Company's former contractors, PT Istana Karang Laut and PT
Sarana Kaltim Jaya, demanded the court issue an asset
preservation order on the Tunu oil field project, the Company's
operational building in East Kalimantan, on-shore gas process in
Senipah, off-shore facility in Tambora, payment from Liquefied
Natural Gas (LNG) buyers from Japan, South Korea and Taiwan, and
the condensate payment from Senipah.

If the court will issue the order, it could prevent ongoing gas
production and delay shipments to buyers.

The two former contractors of Total E&P filed a bankruptcy
petition in court against the Company, saying that Total refused
to pay a USD7.131 million claims for construction of platforms
and a gas processing plant at Tunu field.

The contractors made the claim based on results of the
Development Finance Comptroller's (BPKP) audit of the project,
which was conducted with both parties' consent.

According to the contractors' lawyer OC Kaligis, they just want
the Company to pay the claim, which was audited by the BPKP.

The court adjourned the trial on Feb. 10 to give both parties
time to prepare evidence and witnesses in support of their
claims.

CONTACT:

Total E&P Indonesia
Plaza Kuningan Manara Utara
JL. H.R Rasuna Said Kav C.11-14
P.O Box 1010
12940 Jakarta, Indonesia
Phone: + 62 21 523 1999
Fax:   + 62 21 523 1888


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

JAPAN TOBACCO: To Scratch Seniority Factors from Wage System
------------------------------------------------------------
Japan Tobacco Incorporated plans to remove seniority factors
from its wage system starting April next year in a bid to
concentrate on employees' job duties that are classified into
about 100 types, Kyodo News reports.

Under the new scheme, employees will not be entitled to regular
pay hikes or dependent allowances. The Company has already
introduced such a pay system to about 2,500 managerial workers.

The new wage system, which will enable the cigarette firm to
promote talented younger employees, is intended to revitalize
the firm's activities and strengthen its competitiveness not
only in the cigarette sector but also in its drug and food
businesses.

As part of its restructuring, Japan Tobacco has been shutting
down factories to cope with a decrease in domestic demand for
its tobacco and cigarette products.

CONTACT:

Japan Tobacco Incorporated
2-1, Toranomon 2-Chome
Minato-Ku 105-8422, Tokyo 105-8422
Japan
Phone: +81 3 3582 3111
Fax: +81 3 5572 1441
Web site: http://www.jti.com/


MITSUBISHI MOTORS: Russian Sales Surge 130% in January
------------------------------------------------------
Scandal-tainted Mitsubishi Motors Corporation (MMC) saw its car
sales in Russia soar 130 percent year-on-year for the month of
January, Interfax reports.

Through its official dealers, the troubled automaker sold 2,537
cars in January 2005, against 1,097 vehicles in the same period
last year. The Mitsubishi Lancer mainly pulled up the sales
figure with 1,117 units sold.

MMC, which is struggling to recover from a series of defect
cover-ups and recalls, reported it sold 30,097 cars in 2004,
against 17,663 cars in 2003.

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


MITSUBISHI MOTORS: Gets Nod on Planned Capital Increase
-------------------------------------------------------
The board of embattled Mitsubishi Motors Corporation (MMC)
approved the carmaker's planned JPY274 billion capital infusion
from its sister companies in the Mitsubishi group, Kyodo News
relates.

MMC has been given the go-ahead to raise JPY120 billion by
allotting JPY50 billion worth of shares to Mitsubishi Heavy
Industries Limited and JPY70 billion to Mitsubishi Corporation.

The Bank of Tokyo-Mitsubishi will, likewise, take JPY100 billion
in new shares and carry out a JPY54-billion debt-for-equity
swap, up JPY4 billion from an earlier scheme announced last
month.

The capital expansion, which is to be completed on March 10,
will beef up the combined stake of the Mitsubishi group
companies in the automaker to about 34 percent.

The capital increase, along with JPY270 billion in loans from
the government-backed Development Bank of Japan and other
lenders, forms the core of the automaker's revised
rehabilitation plan.


MITSUBISHI MOTORS: U.S. Unit Hires Marketing Exec from Mercedes
---------------------------------------------------------------
Mitsubishi Motors North America (MMNA) announced the hiring of
David C. Schembri as executive vice president of sales and
marketing for MMNA, effective immediately. He brings with him
more than 30 years of corporate automotive marketing experience
from Mercedes-Benz USA, Volkswagen of America and American
Motors Corporation. Mr. Schembri will report directly to Rich
Gilligan, president and CEO.

"We are thrilled to add Dave Schembri to MMNA's executive team,"
said Mr. Gilligan.

"He brings a wealth of automotive sales and marketing talent
from his years at Mercedes and Volkswagen. His industry
experience, knowledge and strategic background will be an
invaluable asset to us as we move our brand forward."

Mr. Schembri comes to MMNA from Mercedes-Benz USA, where he
served in a number of positions, including vice president of
marketing; vice president, smart USA; vice president of sales-
west; and vice president/general manager for the New York and
L.A. regions, respectively. During his 11-year tenure, Mr.
Schembri helped successfully launch the Mercedes SL, E-Class,
CLK, AWD C-Class and Maybach. He also led the development and
implementation of a certified pre-owned and remarketing program
as well as the regional dealer advertising program.

"I am extremely proud to join Mitsubishi Motors North America,"
said Mr. Schembri.

"Mitsubishi Motors is emerging out of a tough turnaround period
as a stronger and better Company, with the best and most
exciting products it has ever offered. This, combined with an
outstanding dealer and corporate organization, provides for a
strong foundation for future growth. I see tremendous
opportunity with this brand."

Prior to Mercedes-Benz USA, Mr. Schembri held a number of
positions at Volkswagen of America over the course of 16 years,
including director of marketing, director of dealer financial
services, manager of national sales operations and sales manager
of the western zone.

Additionally, Mr. Schembri worked for American Motors
Corporation in a variety of areas, including planning and
forecasting, and corporate finance.

Mr. Schembri is a graduate of University of Detroit, where he
earned his bachelor's of science degree in business
administration and his master's of business administration
degree in marketing and finance.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of Mitsubishi Motors Corporation in the
United States and Canada. Mitsubishi Motors sells coupes,
convertibles, sedans and sport utility vehicles through a
network of approximately 650 dealers.

CONTACT:

Mitsubishi Motors North America, Inc.
6400 Katella Ave.
Cypress, CA 90630-0064 (Map)
Phone: 714-372-6000
Fax: 714-373-1020
Web site: http://www.mitsucars.com


PIONEER CORPORATION: Earnings Slump Pulls Down S&P Ratings
----------------------------------------------------------
Standard & Poor's Ratings Services on Tuesday lowered its long-
term issuer credit and senior unsecured debt ratings on Pioneer
Corp. to 'BBB' from 'BBB+' reflecting substantial deterioration
in earnings in its home electronics business and weak prospects
for early recovery in performance. The rating action also
reflects the subsequent deterioration in cash flow protection.
The outlook on the ratings is negative.

"After twice revising downward its full-year earnings forecast,
Pioneer is now forecasting a net loss in fiscal 2004 (ending
March 31, 2005) for the first time in nine years, due to a
substantial fall in prices and evaluation losses on inventories
in some core products," said Standard & Poor's credit analyst
Chizuko Satsukawa.

The Company's home electronics business, which accounts for
about 40% of total operating revenue, is expected to post
operating losses of JPY27 billion. DVD recorders and drives are
facing particularly sharp price declines and are expected to
continue to face a difficult operating environment. In addition,
Standard & Poor's is concerned over Pioneer Plasma Display Corp.
(PPD; formerly known as NEC Plasma Display acquired from NEC
Corp). PPD was unprofitable in the quarter ended Dec. 31, 2005,
due to low production capacity utilization.

Pioneer's car electronics business should maintain relatively
sound earnings, backed by its strong market position,
technological strength, and brand recognition, although it too
faces price declines and slowing demand. However, the segment's
earnings are not sufficient to cover deterioration in the home
electronics division. Early recovery in performance is unlikely
given the fall in prices has not been fully covered by cost
reduction efforts.

Operating profit margin before depreciation is expected to
decline to about 7% in fiscal 2004 from 12% in the previous
year. Cash flow generation is also weaker. The ratio of funds
from operation (FFO, before working capital adjustments) to
total debt is expected remain low, hovering around 20%-30% over
the next few years. Although Pioneer has been free of net debt
over the past several years, total net debt turned positive in
September 2004. Total net debt has gradually increased in recent
years, because of capital investments to expand production
capacity for plasma panels and the acquisition of NEC Plasma
Display. Although total debt to capital remains low for the
current rating at 28% in December 2004, it rose from 16% in
March 2003.

The ratings on Pioneer could be lowered again if continued poor
performance delays the Company's recovery in internal cash flow
and its financial profile deteriorates significantly.

CONTACT:

Pioneer Corporation
4-1, Meguro 1-Chome
Meguro-Ku, TOKYO 153-8654
JAPAN
Phone: +81 3- 3494-1111
Fax: +81 3 34954428
Web site: http://www.pioneer.co.jp/


SANYO ELECTRIC: S&P Downgrades Outlook on Profitability Concerns
----------------------------------------------------------------
Standard & Poor's Ratings Services has revised the outlook to
negative from stable on its 'BBB' long-term corporate rating on
Sanyo Electric Co. Ltd. reflecting the Company's weaker
profitability and financial profile, and the negative impact of
damage caused by earthquakes in 2004. The long-term corporate
and 'BBB' senior unsecured bond ratings were affirmed.

Sanyo is forecasting a net loss of JPY71 billion for fiscal 2004
(ending March. 31, 2005). The Company faces a difficult
operating environment in some of its core businesses. Prices of
some electric devices are declining and inventories are
accumulating, while OEM sales of digital cameras to camera
makers are weakening, also with falling prices. As a result,
Sanyo's operating profits for the months to Dec. 31, 2004
dropped 64% compared with the same period a year earlier.

"As OEM products account for a high proportion of Sanyo's
digital camera business, it may be difficult for the Company to
directly control its strategies for these products and prices,
and it is uncertain whether it can effectively cope with the
difficult operating environment," said Standard & Poor's credit
analyst Chizuko Satsukawa.

Also, earthquake damage to Sanyo's semiconductor manufacturing
subsidiary, Niigata Sanyo Electric Co. Ltd., is expected to
cause opportunity losses, facility impairment losses, and repair
costs.

Nevertheless, Standard & Poor's believes Sanyo maintains strong
competitiveness in electric devices, including certain
semiconductors. Electric devices and batteries generated about
45% of the Company's operating profits over the past two years.
Overall profitability is expected to gradually improve to some
extent, if semiconductor operations recover as expected.

Sanyo's financial profile is likely to weaken as a result of its
weaker profitability. The Company's debt leverage is
comparatively high for its rating, with a total debt to capital
ratio (adjusted for a consumer finance subsidiary, Sanyo
Electric Credit Co. Ltd.) of about 60% as of March 31, 2004, and
is expected to climb to about 65% by March 31, 2005 as a result
of its large losses.

While Standard & Poor's expects the deterioration in its
financial profile to be a temporary setback, the rating on Sanyo
could be lowered, if a sufficient recovery in profitability and
cash flow fails to materialize, and the Company's financial
profile continues to deteriorate.

CONTACT:

Sanyo Electric Co Ltd
5-5, Keihan-Hondori 2-Chome
Moriguchi City, 570-8677, Osaka 570-8677
JAPAN
Phone: +81 6 6991 1181
Fax: +81 6 6991 6566
Web site: http://www.sanyo.co.jp/koho/index_e.html


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

KOOKMIN BANK: S&P Revises Outlook to Stable
-------------------------------------------
Standard & Poor's Ratings Services on Feb. 15 revised its
outlook to stable from negative on the long-term credit rating
on Kookmin Bank (BBB+/Stable/A-2). At the same time, Standard &
Poor's affirmed its 'BBB+/A-2' ratings on the bank.

The outlook revision reflects the expectation that Kookmin's
strengthened provisioning and easing credit costs related to its
card assets will help mitigate the risks stemming from the
bank's exposure to the small and midsize enterprise (SME) and
household sectors.

"Kookmin is expected to be able to maintain its modest
performance, backed by its solid customer base in its home
market," said Standard & Poor's credit analyst Young Il Choi.

"Although the exposure to SMEs and households, which are
vulnerable to economic swings, is still a risk factor, Kookmin's
profitability and capitalization would absorb a possible
increase in credit costs. The pace of improvement in asset
quality and profitability will be key in determining any further
revision of the outlook on the bank's ratings," Mr. Choi added.

Kookmin's new management has made progress in enhancing the
bank's asset quality and prioritizes improvement in its
operational effectiveness. Problem assets, including loans
classified as precautionary and below, dropped to 7.1% at
December 2004 from 8.1% at September 2004. In the same period,
the ratio of loan loss reserves to problem credits rose to 32.4%
from 31.6%. Kookmin faced challenges in overcoming
inefficiencies caused by the consolidation of its predecessor
banks, as this diluted the bank's organizational cohesiveness
and affected its ability to identify or curb risks in its asset
portfolio. In addition, the size of the bank's assets hindered
its ability to tackle problems quickly.

In the next several quarters, the credit cost of loans to SMEs
will be one of the key concerns regarding Kookmin's overall
profitability. The ratio of problem loans to total SME loans
rose to 12.1% at December 2004 from 11.7% at September 2004,
reflecting the increase in loans classified as precautionary.
The ratio of loans classified as substandard and below to total
SME loans rose for the first three quarters of 2004, and
declined in the fourth quarter mainly due to write-offs.

Reflecting the bank's focus on improving its asset quality, the
SME loans' share in total credit will likely continue to decline
from 28% in December 2004 and 30% in December 2003. Given that
unsecured loans account for only one-fifth of Kookmin's total
SME loans, the ultimate credit cost of SME loans, which stand at
slightly above 2% compared to average assets, is unlikely to be
significant enough to affect the ratings on the bank unless the
domestic economy faces unexpected obstacles.

The credit cost on card assets had accounted for about half of
Kookmin's total credit costs in the past two years, but is
expected to decline noticeably in 2005. Standard & Poor's
expects the bank's credit card business units to start
generating profit toward the second half of 2005, albeit at a
slow pace.

Household loans rose by 4% from the end of 2003, accounting for
64% of total credit at the end of 2004. As about half of all
household loans are secured with real estate collateral, the
drop in housing prices may increase credit risks, especially for
loans with loan-to-value ratios of 70%-80% maturing in 2005.
However, given that unsecured loans comprise less than 16% of
Kookmin's total household loans, as well as the bank's
strengthened provisioning on general household loans in the
fourth quarter of 2004, any potential loss is expected to be
manageable.

CONTACT:

Kookmin Bank
9-1 Namdaemoonro 2-ga
Chung-gu, Seoul 100-092
South Korea
Phone: +82 2 317 2114
Fax:   +82 2 776 5637


LG CARD: Upcoming Takeover Attracts Foreign, Domestic Buyers
------------------------------------------------------------
International investors are looking at two financial services
companies that faced mergers and acquisitions last year, the
Korea Times reports.

One of the companies, LG Card, was considered a "time bomb," but
can resurface due to creditors' efforts to remove bad assets,
according to a Seoul M7A expert.

According to an executive director of the Company's main
creditor Korea Development Bank (KDB), the Company sale is open
to any financial Company and fund in Korea and abroad.

Foreign funds may be competing with many local banks in the
upcoming LG Card takeover bid. Among the foreign companies
interested in the sale are HSBC, Lone Star, Newbridge Capital,
the Carlyle Group, while local banks include Woori Bank and Hana
Bank.

If a foreign Company acquires LG Card, the investor may strongly
influence the local market, since around 10 million people hold
credit cards issued by the Company.

However, there are some concerns as foreign lenders permit
cardholders to pay 5-10 % of their monthly loans under its
revolving loan system; in this system, cardholders' debts might
increase at a very fast rate due to accumulated interests on
delayed payments. LG Card's stock price hangs at KRW4,500, but
creditors are trying to sell their shares at more than double
the price.


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


BOUSTEAD HOLDINGS: Set to List Additional Shares Today
------------------------------------------------------
Boustead Holdings Berhad's additional 220,000 new ordinary
shares of RM0.50 each issued pursuant to the Employees' Share
Option Scheme are granted listing and quotation effective
Wednesday, Feb. 16, 2005, 9:00 a.m.

CONTACT:

Boustead Holdings Berhad
18th Floor, Menara Boustead,
69 Jalan Raja Chulan,
50200 Kuala Lumpur
Malaysia
Phone: 03-2141 9044
Fax:   03-21430075
Web site: http://www.boustead.com.my


CEPATWAWASAN GROUP: Injunction Hearing Adjourned to March 7
-----------------------------------------------------------
Further to the announcement on Jan. 24, 2005 regarding the Civil
Suit No D3-22-1168-2004 by Cepatwawasan Group Berhad and its
subsidiary, Prolific Yield Sdn. Bhd. against the following
persons:

1. Tengku Dato' Kamal Ibni Sultan Sir Abu Bakar (NRIC: 611008-
06-5021) - 1st Defendant
2. Lt Kol Tengku Dato' Kamarul Zaman Ibni Sultan Sir Abu Bakar
(NRIC: 621104-06-5135) - 2nd Defendant
3. Kassim bin Mohamed Ali (NRIC: 570718-10-5915) - 3rd Defendant
4. Abdul Rahim bin Sendiri (NRIC: 460708-06-5203) - 4th
Defendant
5. Opti Temasek Sdn. Bhd. (Company No. 650698-D) - 5th Defendant
6. Yip Kum Wah (NRIC: 390923-08-5783) - 6th Defendant
7. Lee Ah Lan (NRIC: 501002-05-5394) - 7th Defendant
8. Sheikh Abdul Rahim bin Sheikh Hassan (NRIC: 681026-06-5133) -
8th Defendant
9. Yip Fook Yian (NRIC: 701106-08-5557) - 9th Defendant
10. Yip Chee Meng (NRIC: 690422-08-5771) - 10th Defendant
11. Yip Ha @ Yip See Khow (NRIC: 2708621) - 11th Defendant
12. Chew Poh Kong (also known as Paul Hew) (NRIC: 460810-08-
5075) - 12th Defendant;
13. Hew Yen Fatt (also known as Patrick Hew) (NRIC: 550131-10-
5555) - 13th Defendant;
14. Tan Sri Datuk Chai Kin Kong (NRIC: 590825-06-5179) - 14th
Defendant;
15. Dato Chua Tiong MOON (NRIC: 590831-06-5179) - 15th
Defendant;
16. Chai Kim Chong (NRIC: 620118-06-5035) - 16th Defendant;
17. Chai Woon Chet (also known as Eddie Chai) - 17th Defendant;
and
18. Tan Kok Aun (NRIC: 580522-08-5907) - 18th Defendant.

for recovery of :

- RM13 million which was wrongfully and fraudulently paid out by
the former directors of Prolific Yield Sdn. Bhd. to Opti Temasek
Sdn. Bhd. as advance; and

- RM3 million which was wrongfully and fraudulently paid to a
Sheikh Abdul Rahim bin Sheikh Hassan (NRIC: 681026-06-5133) as
advance with no interest and no fixed term of repayment,

The Board of Directors of the Company announced that the Learned
Judge has adjourned the inter-parte hearing of the Mareva
Injunction against the 1st to 7th Defendants and the application
of the 1st to 4th Defendants to set aside and stay the Mareva
Injuction to March 7, 2005 for oral submission.

CONTACT:

Cepatwawasan Group Berhad
Lot 39-40, Block C
Taman Indah Jaya Shophouses
Mile 4, North Road
P O Box 1562
90717 Sandakan
Sabah, Malaysia
Phone: 089-271775/ 089-221569
Fax:   089-220881

This announcement is dated Feb. 14, 2005.


HABIB CORPORATION: Resumes Shares Trading
-----------------------------------------
Further to Listing's Circular No. L/Q 29412 of 2005, trading in
Habib Corporation Berhad's shares will resume effective
Wednesday, Feb. 16, 2005, 9:00 a.m. with effect from 9.00 a.m.,
Wednesday, 16 February 2005.

Please refer to the Company announcement dated Feb. 14, 2005.

CONTACT:

Habib Corporation Berhad
Lot 106
Lorong Memanda 2,
Ampang Point,
68000 Ampang,
Selangor, Malaysia
Phone: 03-42527777
Fax:   03-42527484


I-BERHAD: Buys Back 3,300 Shares
--------------------------------
I-Berhad disclosed to the Bursa Malaysia Securities Berhad
details of its shares buy back on Feb. 14, 2005.

Date of buy back: 14/02/2005

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

Total number of shares purchased (units): 3,300

Minimum price paid for each share purchased (RM): 0.840

Maximum price paid for each share purchased (RM): 0.840

Total consideration paid (RM): 2,792.74

Number of shares purchased retained in treasury (units): 3,300

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

Cumulative net outstanding treasury shares as at to-date
(units): 640,700

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

CONTACT:

I-Berhad
3, Jalan Astaka U8/84
Section U8
Bukit Jelutong
40150 Shah Alam
Selangor, Malaysia
Phone: 03-7845 4511
Fax:   03-7845 4514
Web site: http://www.i-digital.com

This announcement is dated Feb. 14, 2005.


JIN LIN: Trading of Shares Resumes
----------------------------------
Further to Listing Circular's No. L/Q: 29422 of 2005, trading in
Jin Lin Wood Industries Berhad's shares resumed effective
Tuesday, Feb. 15, 2005.

Please refer to the Company announcement dated Feb. 8, 2005.

CONTACT:

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


METROPLEX BERHAD: Issues Default Status Update
----------------------------------------------
Further to the announcement dated Jan. 11, 2005 on Practice Note
No. 1/2001, Metroplex Berhad (MB) provides an update on the
status in default in payment of MB Group's various loan
facilities as at Jan. 31, 2005 as set out in Table A below.

The estimated amount of default as at Jan. 31, 2005 is
RM1,644,533,722.43

Currently, MB is negotiating with its lenders on the Proposed
Composite Schemes of Arrangement which will essentially address
the default in payment. Upon the finalization of the Proposed
Scheme, an announcement will be made to Bursa Malaysia
Securities Berhad.

For a full copy of the Table, go to:

http://bankrupt.com/misc/tcrap_metroplex021505.XLS

CONTACT:

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

This announcement is dated Feb. 14, 2005.


NAIM INDAH: Granted Listing of Additional Shares
------------------------------------------------
Naim Indah Corporation Berhad's additional 100,000 new ordinary
shares of RM0.20 each arising from the Conversion of 100,000
nominal value of RM0.20 irredeemable convertible unsecured loan
stocks 2003/2006 into 100,000 new ordinary shares will be
granted listing and quotation effective Thursday, Feb. 17, 2005,
9:00 a.m.

CONTACT:

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


NAM FATT: To List Additional 493,000 Shares
-------------------------------------------
Nam Fatt Corporation Berhad's additional 493,000 new ordinary
shares of RM1.00 each issued pursuant to the Conversion of
RM493,000 irredeemable convertible unsecured loan stocks
2003/2011 into 493,000 new ordinary shares will be granted
listing and quotation effective Thursday, Feb. 17, 2005, 9:00
a.m.

CONTACT:

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


PADIBERAS NASIONAL: Notes Listing of More Shares
------------------------------------------------
Padiberas Nasional Berhad's additional 59,000 new ordinary
shares of RM1.00 each issued pursuant the Employees' Share
Option Scheme will be granted listing and quotation effective
Thursday, Feb. 17, 2005, 9:00 a.m.

CONTACT:

Padiberas Nasional Berhad
Level 8B, 10 & 19, CP Tower
No.11, Section 16/11
Jalan Damansara
46350 Petaling Jaya
Malaysia
Phone: 03-4604545
Fax:   03-4604646
Web site: http://www.bernas.com.my/


POS MALAYSIA: Resells 130,000 Treasury Shares
---------------------------------------------
In a disclosure to the Bursa Malaysia Securities Berhad, Pos
Malaysia & Services Holdings Berhad issued a notice of resale
and cancellation of treasury shares on Feb. 14, 2005.

Date of transaction: 14/02/2005

Total number of treasury shares sold (units): 130,000

Total number of treasury shares cancelled (units):

Minimum price paid for each share sold (RM): 2.690

Maximum price paid for each share sold (RM): 2.700

Total amount received for treasury shares sold (RM): 350,597.00

Cumulative net outstanding treasury shares as at to-date
units): 33,698,000

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

CONTACT:

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


POS MALAYSIA: Bourse Halts Stock Trading Pending Announcement
-------------------------------------------------------------
At the request of Pos Malaysia & Services Holdings Berhad,
trading in its shares has been suspended effective Monday, Feb.
14, 2005, 2:42 p.m., pending an announcement.

Please refer to the Company announcement dated Feb. 14, 2005.


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


ATLAS CONSOLIDATED: Lists Additional Common Shares
--------------------------------------------------
The Philippine Stock Exchange approved on February 23, 2000 the
application of Atlas Consolidated Mining and Development
Corporation (the Company) to list additional 205, 973, 183
common shares, with a par value of Php10.00 per share, to cover
the conversion of debt-to-equity of Minoro Mining and
Exploration Corporation, at a conversion price of Php10.00 per
share. The said debt has been fully converted into common shares
on October 29, 1999.

These shares were not listed since since 2000 for failure by the
Company to comply with all the post-approval requirements for
listing. The Company was able to fully satisfy the said
requirements only on February 11, 2005.

In view thereof, the listing of the 205,973,183 common shares is
set for Tuesday, February 15, 2005.

The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.

For your information and guidance.

(Original Signed)
CLAUDINE E. CRUZ
OIC, Listings Department

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Atlas Consolidated Mining and Development Corporation
7/F, Quad Alpha Centrum
125 Pioneer St., Mandaluyong City
Phone No:  635-2387/4495
Fax No:  633-3759; 634-2312
E-mail Address:  acmdcmla@info.com.ph
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Stock Transfer Service, Inc.


COLLEGE ASSURANCE: Given Two Months to Fulfill Promise
------------------------------------------------------
The Securities and Exchange Commission (SEC) has given College
Assurance Plans Philippines (CAP) around two months to fulfill
its promise, Today reports.

The SEC is referring to a statement made by the ailing pre-need
firm saying it would pay for the tuition of its 90,230 plan
holders in college before the end of the semester.

"We will hold them to their word," SEC Chairman Fe Barin said.

CAP executive Vice President Bobby Cafe earlier assured plan
holders that the pre-need firm can pay for the tuition of its
plan holders in March, especially those who need to take the
final examinations.

Mr. Caf‚ said that with the SEC's no-objection letter to the
Company's plan to borrow money to meet its obligations, funds
coming from foreign investor First American Investment Limited
Liability Co. would arrive within 40 days. He told legislators
in a hearing that the Company has sent SEC's letter to First
American Investment on February 4.

Mr. Caf‚ is optimistic that the fund, which would come in
tranches, would lead to the renewal of CAP's dealer's license or
permit to sell plans.

CONTACT:

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


NATIONAL POWER: May be Forced to Carry VAT Obligations of IPPs
--------------------------------------------------------------
Ailing National Power Corporation (Napocor) will be forced to
shoulder the Value Added Tax (VAT) of independent power
producers (IPPs) if they will not be exempted from the tax
obligation, according to Asia Pulse.

Napocor will eventually carry the burden of paying the VAT, as
contracts of IPPs provide that they can pass on additional
expenses to the state power firm due to a change in the existing
tax regime.

Imposing the VAT on IPPs would result to heavier losses for
Napocor, which is already facing a Php1.4 trillion (US$25.6
billion) debt.

Each year, Napocor bleeds more than Php100 billion of net losses
due to onerous provisions in the IPP contracts.

Of Napocor's Php1.4 trillion debt, Php200 billion will be
shouldered by the government, which comprises more than half the
debt appropriations for the 2005 budget.

CONTACT:

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


NATIONAL POWER: PSALM Picks Groups to Reevaluate Assets
-------------------------------------------------------
The Power Sector Assets and Liabilities Management Corporation
(PSALM) has tapped four groups to revaluate the assets of
National Power Corporation (Napocor), says The Philippine Star.

PSALM has commissioned PriceWaterhouseCoopers, Cuervo, Acil
Tasman and Sinclair Knights for the asset revaluation of
Napocor's 17 large power generation assets with a generating
capacity of more than 100 megawatts (MW).

The group is expected to present the appraisal results not later
than June this year.

PSALM wants to come up with the new valuation of Napocor's large
generating assets to assure the government that the assets are
sold at a right value and to ensure that they would be sold at
an attractive price.

Among the assets that would need revaluation are: the 850 MW
Sucat; 100-MW Binga; 114.7-MW Iligan I and II; 110-MW Pinamucan;
600-MW Calaca in May; 275-MW Tiwi/410- MW Makban; 112.5-MW
Tonogonan; 100-MW Pantabangan; 150-MW Bacman; 192.5-MW
Palinpinon; 360-MW Magat; 210-MW Navotas; 108-MW Aplaya plants;
and 620-MW Limay/Bataan thermal facilities.

PSALM has already privatized five hydroelectric plants since
March last year. These are the 3.5-MW Talomo hydroelectric plant
(HEP) in Talomo, Davao City; the 1.6-MW Agusan HEP in Manolo
Fortich, Bukidnon; the 1.8-MW Barit HEP in Buhi, Camarines Sur;
the 0.4-MW Cawayan HEP in Sorsogon City, Sorsogon; and the 1.2-
MW Loboc HEP in Bohol.

By mid-2005, PSALM would have successfully sold 50 percent of
Napocor's generating assets. By the end of the year, it is
expected that about 70 percent of Napocor's assets would have
been disposed of.


PHILIPPINE LONG: Files "Amendment No. 10" to U.S. SEC
-----------------------------------------------------
First Pacific Company Limited (FPCL) furnished the Philippine
Stock Exchange a copy of its Amendment No. 10 to Schedule 13D
relating to the Common Capital Stock and American Depositary
Shares of Philippine Long Distance Telephone Company (TEL).

FPCL, in its letter dated February 14, 2005, advised the
Exchange that:

"the amended Schedule 13D referenced above (the 'Amendment No.
10'), relating to the Reporting Persons' beneficial ownership of
Common capital Stock and American Depositary Shares (evidenced
by American Depositary Receipts each representing one share of
Common Capital Stock) of Philippine Long Distance Telephone
Company has been filed in February 8,2005 with the U.S.
Securities and Exchange Commission pursuant to Rules 13d-1(a)
and 13d-2(a) under the U.S. Securities Exchange Act of 1934, as
amended, with copies also sent to each of The New York Stock
Exchange, Inc. and The Pacific Exchange."

A copy of the said document shall be made available for
reference at the PSE Centre library.

For your information.

(Original Signed)
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Philippine Long Distance Telephone Co.
Ramon Cojuangco Building
Makati Avenue, Makati City
Telephone Numbers:  814-3552; 888-0188
Fax Number:  813-2292
Web site: http://www.pldt.com.ph


PHILIPPINE LONG: Lists Additional 2,956 Shares
----------------------------------------------
The Philippine Stock Exchange approved on June 14, 200, the
application submitted by Philippine Long Distance Telephone
Company (the Company) to list additional 1,289,745 common
shares, with a par value of Php5.00 per share, to cover the
Executive Stock Option Plan (ESOP) of the Company, at an
exercise price of Php814.00 per share.

In this connection, please be advised that a total of 2,956
common shares have been availed of and fully paid by the
optionees under the Company's ESOP.

In view thereof, the listing of the 2,956 common shares is set
for Wednesday, February 16, 2005. This brings the number of
common shares listed under the ESOP to a total of 378,809 common
shares.

The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.

For your information and guidance.

(Original Signed)
CLAUDINE E. CRUZ
OIC, Listing Department

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President


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


DIGILAND INTERNATIONAL: Releases Half-year Results
--------------------------------------------------
Digiland International Limited issued to the Singapore Stock
Exchange a copy of its Half Year Financial Statement And
Dividend Announcement for the Period Ended December 31, 2004.

Information required for announcements of quarterly (Q1, Q2 &
Q3), half-year and full year results.

1(a) An income statement (for the group) together with a
comparative statement for the corresponding period of the
immediately preceding financial year.

To view a full copy of the financial statement click
http://bankrupt.com/misc/DIGILANDINTERNATIONAL021405.pdf


HESHE HOLDINGS: Posts Half-year Financial Statement
---------------------------------------------------
Heshe Holdings Limited submitted to the Singapore Stock Exchange
(SGX) its half-year financial statement and dividend
announcement for the period ended December 31, 2004.

Information required for announcements of quarterly (Q1, Q2 &
Q3), half-year and full year results.

1(a) An income statement (for the group) together with a
comparative statement for the corresponding period of the
immediately preceding financial year.

To view a full copy of the financial statement, click
http://bankrupt.com/misc/HESHEHOLDINGS021505.pdf


PRECISION COLD: Lays Out Meeting Agenda
---------------------------------------
Notice is hereby given that the First Meeting of Creditors of
Precision Cold Truck Pte Ltd (In Liquidation) will be held at 5
Shenton Way, #07-01 UIC Building, Singapore 068808 on March 1,
2005 at 11:00 a.m.

AGENDA

(1) To receive a status update from the Liquidators.
(2) To approve the remuneration and cost of winding up.
(3) Any other matters.

Dated this 14th day of February 2005.

Chia Soo Hien
Ng Geok Mui
Liquidators.
c/o BDO Raffles
5 Shenton Way
#07-01 UIC Building
Singapore 068808

To entitle you to vote thereat, your proof of debt must be
lodged with our office not later than 4:00 p.m. on 28th February
2005. Forms of general and special proxies are enclosed
herewith. Proxies to be used at the meeting must be lodged at
our office no later than 4:00 p.m. on February 28, 2005.


SPH MEDIAWORKS: Receives Winding Up Order
-----------------------------------------
In the Matter of SPH Mediaworks Ltd. a winding up order was made
February 4, 2005.

Name and address of Liquidators:

Michael Ng Wei Teck (NRIC No. S2548724/I),
Peter Chay Fook Yuen (NRIC No. S2592789/C) and
Tham Sai Choy (NRIC No. S2561852/A)

Messrs KPMG, 16 Raffles Quay,
#22-00 Hong Leong
Building, Singapore 048581

Dated this 8th day of February 2005

Allen & Gledhill
Solicitors for the Petitioner

Note:

(a) All creditors of the above named Company should file their
proof of debt with the liquidator who will be administering all
affairs of the Company.

(b) All debts due to the above named Company should be forwarded
to the liquidator.


UNITED OVERSEAS: Clarifies News Article on Winding Up Petition
--------------------------------------------------------------
United Overseas Bank Limited issued to the Singapore Stock
Exchange (SGX) a clarification to the advertisement on 7 and 8
February 2005 in The Star newspaper in Malaysia, concerning a
petition filed by one Tio Chee Hing (the Petitioner), for the
winding-up of United Overseas Bank (Malaysia) Berhad (UOBM), a
subsidiary of the Bank.

Background Information

The Petitioner had charged certain lands to UOBM. Sometime in
March 1991, the State Government of Sabah compulsorily acquired
part of the lands and paid the compensation moneys of about
RM1.62 million (Compensation Moneys) to UOBM as chargee of the
lands.

Petitioner's claim struck out by Court of Appeal

In January 1990, the Petitioner sought a declaration that the
charge in favour of UOBM was void but his claim was struck out
in April 2004 by the Court of Appeal in Malaya. In July 2004,
the Petitioner was refused leave to appeal to the Federal Court
against the decision of the Court of Appeal.

Petitioner seeks similar claim in application to ACLR

Sometime in 2001, the Petitioner also applied to the Assistant
Collector of Land Revenue (ACLR) Lahad Datu to cancel UOBM's
charge.

In a ruling made in February 2002, the ACLR allowed the
Petitioner's application and ordered that the land register be
rectified by cancelling UOBM's charge (ACLR order).

UOBM's appeal against the ACLR order was dismissed by the Deputy
Director of Lands and Surveys in November 2004 (DDLS Decision)
whereupon UOBM filed an appeal to the High Court in Sabah and
Sarawak in Tawau (Tawau High Court Suit).

Stay of ACLR Order

In August 2002, UOBM had obtained a stay of execution of the
ACLR order from the Tawau High Court (Tawau High Court Stay
Order).

Notwithstanding the Tawau High Court Stay Order and the Tawau
High Court Suit, which is pending, the Petitioner served a
statutory demand on UOBM on or about 17 November 2004 claiming
the Compensation Moneys on the basis of the ACLR order and the
DDLS Decision. A second statutory demand was served on or about
25 November 2004.

To view a full copy of the disclosure, click
http://bankrupt.com/misc/UNITEDOVERSEASBANK021405.pdf


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


KRUNG THAI: Details Transfer of Substandard Assets
--------------------------------------------------
Krung Thai Bank Public Company Limited disclosed to the Stock
Exchange of Thailand matters regarding the transfer of
substandard assets to Thai Asset Management Corporation (TAMC).

It is stipulated in the Thai Asset Management Corporation Royal
Ordinance B.E. 2544 (2001), Section 30 that a financial
institution or assets management Company with the Financial
Institutions Development Fund or any combined government
agencies or state enterprises as its shareholders holding more
than fifty percent of paid - up registered capital shall
transfer all its substandard assets as at December 31, 2000 to
the Thai Asset Management Corporation (TAMC) within the period
of time specified by the TAMC.

In this regard, the Board of Directors of Krung Thai Bank Public
Co. Ltd, at its meeting No. 15/2544 (576) on October 17, 2001,
passed its resolution to ratify the approval of the transfer of
all substandard debtors to TAMC as mentioned above. Initially
there will be about 60,000 cases/debtors and THB80,000 million
of outstanding debts in total.

Of these figures, the Bank already transferred them 26 times. As
for the 27th transfer scheduled for 15 February 2005, it
consists of the following details:

To view a full copy of the details, click
http://bankrupt.com/misc/KRUNGTHAIBANK021405.txt


CONTACT:

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


KRUNG THAI: SET Allows Trading of Securities
--------------------------------------------
The Stock Exchange of Thailand (SET) has lifted the H (Trading
Halt) sign from the securities of Krung Thai Bank Public Company
Limited (KTB) effective February 14, 2005 at 11:30 a.m. onwards
because KTB has clarified the following news to the SET.

Previously, the SET posted H sign on securities of KTB because
the Bank of Thailand has accused the managements of listed
Company as being the directors of Krungthai Bank Public
Company Limited (KTB) who breach the Banking Act that might
affect trading of the listed Company.


PAE THAILAND: Explains Business Transactions
--------------------------------------------
PAE Public Company Limited issued to the Stock Exchange of
Thailand an explanation on the following related business
transactions:

For Myanmar Soon Pacific Company Limited

(1.2) Short term Loan and related transaction 13.07 MB could be
break advance as follows:

(1.2.2) The amount of 0.22 MB represents Myanmar Soon Pacific
Co., Ltd. increased share holding in PRI (Pacific Resources
International Limited.)

However, the amount was already settled and did not show in Q4
year 2004 Myanmar Soon Pacific Co., Ltd. was the firm in Burma
their business involved in equipment rental, machine repair,
selling construction equipments

Paid up capital               THB1,571,851.36
Pacific Resources International Limited  40%
Soon Douglas Pte. Ltd. (Singapore)      40%
C.E.S. Co., Ltd. (Myanmar)       20%
PAE (Thailand) Plc. Holds stake in
Pacific Resources Co., Ltd.              99.99%

This item was not a related transaction.

(2) Receivables Related Company

Myanmar Soon Pacific Co., Ltd. showed an outstanding 11.26 MB.
in the third quarter of 2004 and 11.11 MB. in the second quarter
of 2004. The variance of 0.15 MB. was interest expenses.

(4) Investments.

(4.1) PRI sold shares of Myanmar Soon Pacific Co., Ltd. to Soon
Danglas Pte. (Singapore) on 8 November 2004 at the price of US
one dollar, as the result, the share of PRI was reduced from 40%
to 0%.  The reason of the selling share was to decrease loss in
related Company, and withdraw the guarantee of USD4 million from
the bank.

(1.2.1) The amount of 4.21 MB represents

(1.2.2) short term loan since 1996 ,

At present, the Company is following up PMD Ltd. to settle the
outstanding.

This item was not related transaction.

(1.2.3) Loan of 8.64 MB from Warba National con Trading was
used for the construction of basis Apartment during 1992  1993.
Oasis Development Co., Ltd. was the real estate with paid up
capital one million baht. Their structure are:

Pacific Resources International Limited. 54.94%
Warba National Trading Co., Ltd.  35.00%
Mr. Thomas Heizman         10.00%

The management is reviewing the status of the Company and
expects to complete it by 2005.

This item was not a related transaction.

Please be informed accordingly.

Respectfully yours,
Mr.Soradej Choothesa
Finance and Account Director

CONTACT:

PAE (Thailand) Pcl
69 Sinakharin Road, Suan Luang, Bangkok
Telephone: 0-2322-0222
Fax: 0-2322-2970-1
Web site: http://www.pae.co.th


SIAM AGRO: Central Bankruptcy Court Hears Petition
--------------------------------------------------
Further to joint filing of the petition for rehabilitation to
the Central Bankruptcy Court by Siam Agro Industry Pineapple and
Others Public Company Limited and it's major creditor,
Kasikornbank PCL, the Court made an order accepting the petition
on January 11, 2005 with the hearing finally scheduled on
February 14, 2005.

At a hearing Monday, there were no objections to the petition to
the rehabilitation program, the Central Bankruptcy court
examined the petition and agreed to grant an order on February
21, 2005.

Please be informed accordingly and disclose to the shareholders
and the general investor.

Yours sincerely,
Mr. Praful Shah
Managing Director

CONTACT:

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


SUNTECH GROUP: Given 45 Days to Submit Financial Report
-------------------------------------------------------
Suntech Group Public Company Limited (SUNTEC) advised the Stock
Exchange of Thailand that it is unable to disclose its
unreviewed semi-annual financial statements ending December 31,
2004.

The Securities and Exchange Commission (SEC) has allowed listed
companies that have been posted an SP Suspension sign as a
result of filing petition under Bankruptcy Act to submit their
unreviewed semi-annual financial statements and management
discussion and analysis (MD&A) within 45 days instead of
submitting the reviewed quarterly financial statements.

Since Suntech Group Public Company Limited (SUNTEC) is unable to
disclose its unreviewd semi-annual financial statements ending
December 31, 2004 by the above deadline specified by the SEC.

Therefore, the SET announces to the general investors that the
SET is waiting for SUNTEC to disclose the required information
to the SET through the public.


                            *********


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

Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey
Resnick, Faith Marie Bacatan, Reiza Dejito, Erica Fernando,
Editors.

Copyright 2005.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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                 *** End of Transmission ***