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

                     A S I A   P A C I F I C

            Thursday, April 7, 2005, Vol. 8, No. 68

                            Headlines

A U S T R A L I A

21ST CENTURY: ASIC Bars Wealth Creation Seminars
AJ CAMPBELL: General Meeting Slated for April 8
AUSTRALIAN GAS: To Return AU$228 Mln to Shareholders
BEECHER MANAGEMENT: Members Pass Resolution to Wind Up Company
BEST BYTE: Court Issues Winding Up Order

BURMINE SHELF: Hires Liquidator from Ferrier Hodgson
CRITERION SHARE: Resolves to Wind Up Company
EDJUDINA OPERATIONS: To Undergo Voluntary Winding Up
EAGLE ON THE HILL: Closes Doors Over Unpaid Rent
JAMES HARDIE: Aims to Seal Compo Deal This Month

JENT HOMES: Names Riad Tayeh as Liquidator
KEFOR PTY: Members Pass Winding Up Resolution
LOUKARI CORPORATION: Sets April 14 as Date of Final Meeting
MAKSAL PTY: Fixes April 14 as Date of Final Meeting
MAYNE GROUP: Notes Lapse of Options

MAYNE GROUP: Set to Transfer Hospitals to Affinity Health
MITSUBISHI AUSTRALIA: Taps SAP System to Survive
NATIONAL AUSTRALIA: Intends to Move Some Ops Offshore
P MILTON: To Hear Liquidator's Report on Winding Up
REGAL RENOVATIONS: Members, Creditors to Meet April 8

SPECTEX PTY: Picks Liquidator from Worrells
STYLUS LOUNGE: To Hear Liquidator's Report on Winding Up
SUKARI INVESTMENTS: To Hold Final Meeting April 14
SUNDA INTERNATIONAL: Sets Out Final Meeting Agenda
SUNSET PTY: Members, Creditors to Meet April 14

TOWN & COUNTRY: Final Meeting Set April 8
UNIQUE VANITIES: Appoints Liquidators from Ferrier Hodgson
WALTER CONSTRUCTION: Fate of Staff Depends on U.K. Ruling
WINDOW SYSTEMS: To Declare Dividend May 3
WISE FINANCE: ASIC Winds Up Unregistered Investment Scheme

ZURICH FINANCIAL: Corrects False Reports


C H I N A  &  H O N G  K O N G

A-LEVEL EXPRESS: Court Issues Winding Up Notice
C&K EXPRESS: Receives Bankruptcy Order
FORTUNE SEVEN: Enters Winding Up Proceedings
FU WAI: Receiving Proofs of Debt Until April 16
OPESCO INVESTMENT: Court Releases Winding Up Notice

RECOTON LIMITED: Annual Meeting Slated for April 13
SYNTAX COMPUTER: Enters Bankruptcy
SUPREME INVESTMENT: Winding Up Hearing Set April 12
ULTIMATE CO.: Enters Bankruptcy Proceedings
YUEN CHAK: To Hold Creditors, Contributories Meeting


I N D O N E S I A

BANK MANDIRI: Sets Bank Acquisition Goals for 2005
* ABN AMRO Downgrades Indonesia's Rating to "Underweight"


J A P A N

FURUKAWA ELECTRIC: Sees Telecommunications Profit Next Year
HITACHI LIMITED: No Plan for "Poison Pill" Proposal in June
HITACHI LIMITED: Unveils Major Push Into NAS Market
JAPAN AIRLINES: Inaugurates Twice-weekly Tokyo-Moscow Service
MATSUSHITA ELECTRIC: U.S. Unit Deepens Staff Cuts

MITSUBISHI MOTORS: To Expand OEM Supply for Mini-Vehicles
MITSUBISHI TOKYO: To Liquidate Subsidiary
MITSUBISHI TOKYO: Unit Decides to Liquidate Leasing Firm
SOJITZ HOLDINGS: To Launch Indian Enterprise
TEAC CORPORATION: METI OKs Restructuring Plan

TOSHIBA CORPORATION: Responds to Jury Verdict in U.S. Lawsuit


K O R E A

HYNIX SEMICONDUCTOR: Creditors Agree to End Debt Workout Early


M A L A Y S I A

CHG INDUSTRIES: SC, Authorities Review Proposed Scheme
MMC CORPORATION: Bond Sale Unlikely to Affect Revenue
NALURI BERHAD: Case Hearing Postponed to April 12
RHB CAPITAL: To Hold 10th AGM on April 28
TALAM CORPORATION: Loan Stocks Payment Due This Month

TALAM CORPORATION: To Reduce Borrowings by Selling Off Assets
TT RESOURCES: Trading in Warrants Suspended Prior to Expiry
WEMBLEY INDUSTRIES: Proposed Scheme Awaits SC Approval
WOO HING: Creditors Meet to Decide on Unit's Liquidation


P H I L I P P I N E S

MANILA ELECTRIC: Junks Refund Notes
MAYNILAD WATER: Government Seeks US$125-Mln Loan to Fund Rehab
NATIONAL BANK: Confirms President's Resignation
PHILIPPINE LONG: To List More Shares Today
PILIPINO TELEPHONE: Seeks to Bar Digitel from 24/7 Discussions

VICTORIAS MILLING: Picks CL Manabat as External Auditor
* RP Debt Hits Php4.6 Trillion in 2004


S I N G A P O R E

ACCORD CUSTOMER: Postpones AGM to June 30
GREATRONIC LIMITED: Hires PrimePartners as Financial Adviser
IPCO INTERNATIONAL: Board OKs Divestment of 3,000,002 Shares
KANEKO ASIA: Particulars of Debt, Claim Due on May 4
NATSTEEL LIMITED: Acquires 5.5% Equity Stake in Unit

NATSTEEL LIMITED: AGM Slated for April 8
STARTECH ELECTRONICS: Clarifies Straits Times News Article
SUNWAY BUSINESS: Proofs of Debt, Claim Due April 30
WEARNES INTERNATIONAL: Remuneration Committee Member Resigns
WIRELESS COMMUNICATIONS: Creditors Should Prove Debt by April 28


T H A I L A N D

NEW PLUS: Moves to Exit Rehabco Sector
POWER-P: Lays Out Meeting's Resolution, AGM Agenda
POWER-P: Enters Alliance with Nophawong Construction
WYNCOAST INDUSTRIAL: Capital Reduction Completed

     -  -  -  -  -  -  -  -

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


21ST CENTURY: ASIC Bars Wealth Creation Seminars
------------------------------------------------
In response to proceedings commenced by the Australian
Securities and Investments Commission (ASIC), Mr. Jamie McIntyre
and 21st Century Academy Pty Ltd (21st Century Academy) have
both undertaken to the Federal Court of Australia that they will
not promote or conduct any seminars, or similar events, anywhere
in Australia until the proceedings brought against them have
been heard and determined by the Court.

As a result, a series of seminars scheduled to be held on the
Gold Coast from 27 to 29 May 2005 will now not take place.

Mr. McIntyre and 21st Century Academy also undertook to the
Court that they would not print, publish or distribute the book
"What I Didn't Learn At School But Wish I Had" (in its current
form) until further order of the Court.

On 3 March 2005, ASIC commenced proceedings against Mr. McIntrye
and 21st Century Academy alleging that during 2004 and 2005,
they had carried on a financial services business by giving
advice, or making recommendations, with respect to derivatives
and securities, while not holding an Australian Financial
Services license. ASIC alleges that the advice and
recommendations were provided to members of the public at
seminars and in publications distributed or promoted by 21st
Century Academy.

ASIC is seeking declarations from the Court that Mr. McIntyre
and 21st Century Academy have contravened the Corporations Act
2001. ASIC is also seeking final orders to restrain them from
continuing this conduct.

The trial will commence before Justice Merkel in the Federal
Court of Australia on 12 July 2005.

Background

21st Century Academy promotes, advertises and conducts a
business of holding wealth creation seminars and selling
products such as DVDs and compact discs. These courses and this
material claim to teach people how to excel in the 21st century
and make money while you sleep.

Jamie McIntyre is described as "the founder and head facilitator
of the Academy, a self-made millionaire and an inspiration to
thousands".

ASIC has previously taken a number of actions against Mr.
McIntyre and 21st Century Academy.

In October 2004, Mr. McIntyre and 21st Century Academy gave
written undertakings to ASIC that during seminars to be held in
Adelaide, Perth, Melbourne, Hobart, Brisbane and Sydney in
October 2004, and at the Melbourne Investment Expo, they would
not:

(1) Carry on a financial services business without being the
holder of an AFSL covering the provision of the financial
services;

(2) Make statements or representations in relation to any
strategy with respect to buying blue-chip company securities or
derivatives (including exchange-traded options) or any other
financial product; and

(3) Otherwise provide any financial product advice.
As a result of ASIC's action, Mr. McIntyre and 21st Century
Academy also postponed a planned seminar for Hobart in September
2004.

Earlier, ASIC had taken action to wind up several companies
associated with Mr. McIntyre. In April 2003 the Supreme Court of
Queensland made orders appointing Mr. Bradley Vincent Hellen of
Calabro Partners, as liquidator of four companies of which Mr.
McIntyre was the sole director. Those companies were Visual
Changes Pty Ltd (Visual Changes), trading as 21st Century
Academy, Cashflow Creation Pty Ltd, JNMAC Pty Ltd and JNMAC2 Pty
Ltd.

In 2002 the Supreme Court had ordered the winding up of another
company associated with Mr. McIntyre, Jaymac Communications Aust
No 2 Pty Ltd, and had appointed Mr. Hellen as liquidator.  


AJ CAMPBELL: General Meeting Slated for April 8
-----------------------------------------------
Notice is hereby given in pursuance of subsection 509(3) and (4)
of the Corporations Act 2001 that a General Meeting of the
Members of AJ Campbell & Son (Nowra) Pty Ltd (In Voluntary
Liquidation) A.C.N. 000 563 404 will be held on April 8, 2005 at
the office of Cronin & Norris, 47 Manning Street Kiama NSW 2533
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 explanation
that may be given by the Liquidators.

Dated this 25th day of February 2005

R. J. Norris
Liquidator
Cronin & Norris
PO Box 8, Kiama NSW 2533


AUSTRALIAN GAS: To Return AU$228 Mln to Shareholders
----------------------------------------------------
Australian Gas and Light Company has opted to slash its share
capital by 50 cents per share, returning AU$228 million
(US$174.58 million) to shareholders, The Australian reports.

Some 190.29 million proxies voted overwhelmingly in favor of the
capital share reduction and just over 540,000 voted against it.
AGL Chairman Mark Johnson then declared the resolution carried.

The move is part of a capital management strategy to return
surplus capital to shareholders.

CONTACT:

Australian Gas Light Co (The)
Corner Pacific Highway and Walker Street
AGL Centre
North Sydney, New South Wales 2059
Australia
Phone: +61 2 9922 0101
Fax: +61 2 9957 3671
Web site: http://www.agl.com.au/


BEECHER MANAGEMENT: Members Pass Resolution to Wind Up Company
--------------------------------------------------------------
At a general meeting of Beecher Management Pty Limited (In
Liquidation) A.C.N. 086 947 003 held at 28 Lang Road Centennial
Park on February 26, 2005 the following Special Resolution
passed:

That the Company be wound up as a Members' Voluntary Liquidation
and that the assets of the Company may be distributed in whole
or in part to the members in specie should the liquidator so
desire.

Dated this 28th day of February 2005

James David Beecher
Liquidator
28 Lang Road,
Centennial Park NSW 2021


BEST BYTE: Court Issues Winding Up Order
----------------------------------------
On March 1, 2005, the Supreme Court of New South Wales, Equity
Division, made an Order that Best Byte Pty Limited A.C.N. 072
760 055 be wound up and appointed R. J. Porter as Official
Liquidator.

R. J. Porter
Official Liquidator
Moore Stephens PMN
Chartered Accountants
Level 6, 460 Church Street,
Parramatta NSW 2150


BURMINE SHELF: Hires Liquidator from Ferrier Hodgson
----------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Burmine Shelf No. 1 Pty Ltd (In Liquidation)
A.C.N. 008 143 413 held on February 24, 2005, it was resolved
that the company be wound up voluntarily and at a meeting of
creditors held on the same day it was resolved that for such
purpose, Garry Trevor, Andrew Love and Darren Weaver of Ferrier
Hodgson, Chartered Accountants, Level 26, 108 St George's
Terrace, Perth WA 6000 be appointed Joint & Several Liquidators.

Dated this 24th day of February 2005

Garry Trevor
Joint and Several Liquidator of Burmine Shelf No. 1
Pty Ltd
Ferrier Hodgson
Chartered Accountants
Level 26, 108 St George's Terrace,
Perth WA 6000


CRITERION SHARE: Resolves to Wind Up Company
--------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Criterion Share Registry Pty Ltd (In Liquidation)
A.C.N. 009 058 959 held on February 24, 2005, it was resolved
that the company be wound up voluntarily and at a meeting of
creditors held on the same day it was resolved that for such
purpose, Gary Trevor, Andrew Love and Darren Weaver of Ferrier
Hodgson, Chartered Accountants, Level 26, 108 St George's
Terrace, Perth WA 6000 be appointed Joint & Several Liquidators.

Dated this 24th day of February 2005

Garry Trevor
Joint and Several Liquidator of Criterion Share
Registry Pty Ltd
Ferrier Hodgson
Chartered Accountants
Level 26, 108 St George's Terrace,
Perth WA 6000


EDJUDINA OPERATIONS: To Undergo Voluntary Winding Up
----------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Edjudina Operations Pty Ltd (In Liquidation)
A.C.N. 009 221 372 held on February 24, 2005, it was resolved
that the company be wound up voluntarily and at a meeting of
creditors held on the same day it was resolved that for such
purpose, Garry Trevor Andrew Love and Darren Weaver of Ferrier
Hodgson, Chartered Accountants, Level 26, 108 St George's
Terrace, Perth WA 6000 be appointed Joint & Several Liquidators.

Dated this 24th day of February 2005

Garry Trevor
Joint and Several Liquidator of Edjudina Operations
Pty Ltd
Ferrier Hodgson
Chartered Accountants
Level 26, 108 St George's
Terrace, Perth WA 6000


EAGLE ON THE HILL: Closes Doors Over Unpaid Rent
------------------------------------------------
Administrators were forced to shut down indefinitely the Eagle
on the Hill Hotel amid a backlog of rent payments, according to
The Advertiser.

Aleks and Peta Bojanic, the lessees of the hotel, were served
notice Tuesday morning, with the closure taking affect
immediately.  

Mr. Bojanic said he had planned to transfer the hotel's Gaming
Entitlements when the State Government passed legislation
allowing it to do so. According to him, the move would have
allowed creditors including the landlords to be paid.

The closure caused chaos for those who had booked the hotel for
functions, including several wedding receptions.

CONTACT:

Eagle On The Hill Hotel
Mt Barker Rd Eagle on the Hill SA 5150
Phone:08 83392211  
Fax:08 83396922  


JAMES HARDIE: Aims to Seal Compo Deal This Month
------------------------------------------------
James Hardie Industries planned to sign an agreement to
compensate asbestos victims this month, The Courier Mail
relates.

The embattled building products manufacturer has postponed by
about two months the signing of an AU$1.5-billion asbestos
compensation deal due to "complexity of legal and administrative
issues".

But despite the delay, the Company is still seeking shareholder
approval for the compensation plans at a meeting slated for
July. The firm is hoping to make the first payments in early
September.

James Hardie offered the settlement to asbestos sufferers
following a dispute over a shortfall in a 2001 compensation
fund.

CONTACT:

James Hardie Industries
Website: 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


JENT HOMES: Names Riad Tayeh as Liquidator
------------------------------------------
At an extraordinary General Meeting of Jent Homes Pty Ltd (In
Liquidation) A.C.N. 090 096 558 convened and held at the offices
of MP & K Partners, 5/9 Montgomery Street Kogarah NSW 2217 on
February 24, 2005, Riad Tayeh was appointed Joint Liquidator
with Mr. Antony de Vries.

Dated this 25th day of February 2005

Riad Tayeh
Joint Liquidator
de Vries Tayeh
c/- Level 3, 95 Macquarie Street,
Parramatta NSW 2150


KEFOR PTY: Members Pass Winding Up Resolution
---------------------------------------------
At a general meeting of the members of Kefor Pty Ltd (In
Liquidation) A.C.N. 000 964 394 duly convened and held at
SimsPartners, Level 24/264 George Street, Sydney, on February  
16, 2005 at 11:00 a.m. the resolutions set out below were duly
passed.

SPECIAL RESOLUTION

That the company be wound up voluntarily.

ORDINARY RESOLUTION

That Scott Darren Pascoe of SimsPartners, Level 24, Australia
Square, 264 George Street, Sydney be nominated Liquidator for
the purpose of the winding up.

Dated this 18th day of February 2005

Elizabeth Anne Forrester
Director


LOUKARI CORPORATION: Sets April 14 as Date of Final Meeting
-----------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Loukari Corporation Pty Ltd (In Liquidation) A.C.N. 001 860 966
will be held at the offices of RSM Bird Cameron Partners, 103-
105 Northbourne Avenue, Turner ACT 2612, on Thursday, April 14,
2005 at 11:30 a.m. for the purpose of laying before the meetings
the liquidator's final accounts and reports and give an
explanation thereof.

Dated this 24th day of February 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


MAKSAL PTY: Fixes April 14 as Date of Final Meeting
---------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Maksal Pty Ltd (In Liquidation) A.C.N. 001 055 885 will be held
at the offices of RSM Bird Cameron Partners, 103-105 Northbourne
Avenue, Turner ACT 2612, on Thursday, April 14, 2005 at 12:30
p.m. for the purpose of laying before the meetings the
liquidator's final accounts and reports and give an explanation
thereof.

Dated this 24th day of February 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


MAYNE GROUP: Notes Lapse of Options
-----------------------------------
Mayne Group Limited advised that 115,000 executive options
expiring on various dates and exercisable at various prices have
lapsed.

Following the lapse of these options, the number of options
currently on issue by Mayne Group Limited is 1,874,000.

CONTACT:

Mayne Group
Level 21/390 St Kilda Rd
Melbourne 3004
Phone: +613 9868-0700
Web site: http://www.maynegroup.com/


MAYNE GROUP: Set to Transfer Hospitals to Affinity Health
---------------------------------------------------------
Affinity Health Limited advised that the New South Wales
Government has consented to the transfer of both Price of Wales
Private Hospital and Armidale Private Hospital from Mayne Group
Limited to the Affinity Health Group.

The two hospitals are expected to transfer effective from April
18, 2005.


MITSUBISHI AUSTRALIA: Taps SAP System to Survive
------------------------------------------------
Struggling Mitsubishi Motors Australia aims to boost its
viability by spending more than AU$20 million on a SAP
enterprise system, The Australian says.

Adelaide managers are hoping to end any plans to close
Mitsubishi's Australian operations through a successful SAP
system.

SAP, which would replace more than 40 systems, would enable the
business to build its much-anticipated new vehicle.

Mitsubishi Australia is pitching the roll-out of the system to
its Japanese parent, Mitsubishi Motors Corporation (MMC), as a
pilot site for global SAP roll-outs. The local PS Project has
propelled the roll-out of SAP financials in Japan and Thailand,
and a preliminary study of SAP in the North American operation.

The Australian business systems plan was codenamed the Kingston
Project, Mitsubishi Motors Australia information systems general
manager Tony Newman said.

Stage one of the three-phased Kingston project was completed in
September. The plan for the second phase was under review.

Mr. Newman said he hoped to take the plan to management by May
for funding approval.

CONTACT:

Mitsubishi Motors Australia, Ltd. (MMAL)
Head Office: 1284 South Road
Clovelly Park South Australia, 5042 AUSTRALIA
Phone: 08 8275 7443
Fax: 08 8275 7309
E-mail: careers@mmal.com.au
Web site: www.mitsubishi-motors.com.au


NATIONAL AUSTRALIA: Intends to Move Some Ops Offshore
-----------------------------------------------------
The National Australia Bank is keen on moving some of its back
office processing operations to India, The Age says.

NAB is reportedly considering the move for several months as
part of efforts to streamline back office processing costs.

NAB has not yet inked a deal, but it has reportedly made a final
decision to set up a pilot data processing operation in India,
in partnership with a specialist outsourcing group.

The bank, however, said it is not planning to shift its entire
I.T. operations offshore and will not be transferring customer-
facing operations such as call centers.

Last week, the Commonwealth Bank of Australia said it was in
preliminary discussions with the Reserve Bank of India about
acquiring a stake in a local bank in Bangalore to try and tap IT
professionals.

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/


P MILTON: To Hear Liquidator's Report on Winding Up
---------------------------------------------------
Notice is hereby given pursuant to section 509 of the
Corporations Act that a general meeting of members and creditors
of P Milton Pty Limited (In Liquidation) A.C.N. 000 169 906 will
be held at the offices of Jirsch Sutherland, Chartered
Accountants, Level 2, 84 Pitt Street, Sydney NSW on Friday,
April 8, 2005 at 10:00 a.m. for the purpose of having an account
laid before them showing the manner in which the winding up has
been conducted, the property of the company disposed of and of
hearing any explanations that may be given by Liquidator.

Dated this 8th day of March 2005

R. M. Sutherland
Liquidator


REGAL RENOVATIONS: Members, Creditors to Meet April 8
-----------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a joint meeting of the members and creditors of Regal
Renovations & Co Pty Limited (In Liquidation) A.C.N. 070 078 189
will be held at the offices of GHK Green Krejci, Level 9, 179
Elizabeth Street, Sydney NSW 2000 on April 8, 2005, at 4:30
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 of hearing any
explanations that may be given by the Liquidator.

Dated this 25th day of February 2005

Martin J. Green
Liquidator
GHK Green Krejci
Level 9, 179 Elizabeth Street,
Sydney NSW 2000


SPECTEX PTY: Picks Liquidator from Worrells
-------------------------------------------
Notice is given that Anthony Warner and Ivor Worrell, Registered
Liquidators, of Worrells, Level 3, 333 George Street, Sydney NSW
2000, were appointed Liquidators of Spectex Pty Limited (In
Liquidation) A.C.N. 098 599 341 at a general meeting of the
company's members on February 24, 2005.

Dated this 25th day of February 2005

Anthony Warner
Liquidator
Worrells
Solvency & Forensic Accountants
Web site: http://www.worrells.net.au


STYLUS LOUNGE: To Hear Liquidator's Report on Winding Up
--------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Stylus Lounge & Bar Pty Ltd (In Liquidation) A.C.N. 102 807 152
will be held at the offices of RSM Bird Cameron Partners, 103-
105 Northbourne Avenue, Turner ACT 2612, on Thursday, April 14,
2005 at 12:00 p.m. for the purpose of laying before the meetings
the liquidator's final accounts and reports and give an
explanation thereof.

Dated this 24th day of February 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


SUKARI INVESTMENTS: To Hold Final Meeting April 14
--------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Sukari Investments Pty Ltd (In Liquidation) A.C.N. 080 270 766
will be held at the offices of RSM Bird Cameron Partners, 103-
105 Northbourne Avenue, Turner ACT 2612, on Thursday, April 14,
2005 at 11:00 a.m. for the purpose of laying before the meetings
the liquidator's final accounts and reports and give an
explanation thereof.

Dated this 24th day of February 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


SUNDA INTERNATIONAL: Sets Out Final Meeting Agenda
--------------------------------------------------
Notice is hereby given that a meeting of the Members and
Creditors of Sunda International Pty Ltd (In Liquidation) A.C.N.
083 961 371 will be held at Hall Chadwick Level 29, 31 Market
Street, Sydney NSW on Friday, April 8, 2005 at 11:00 a.m.

The meeting will be a Final Meeting in accordance with Section
509 of the Corporations Act 2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidation ending on April 8, 2005.

(2) That subject to any provisions under the Corporations Act
2001 to the contrary, the Liquidator be empowered to destroy all
books and records of the company on completion of all duties.

(3) Any other business.

Richard Albarran
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


SUNSET PTY: Members, Creditors to Meet April 14
-----------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, the final meeting of members and creditors of
Sunset Pty Ltd (In Liquidation) A.C.N. 000 431 354 will be held
at the offices of RSM Bird Cameron Partners, 103-105 Northbourne
Avenue, Turner ACT 2612, on Thursday, April 14, 2005 at 10:00
a.m. for the purpose of laying before the meetings the
liquidator's final accounts and reports and give an explanation
thereof.

Dated this 24th day of February 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
103-105 Northbourne Avenue,
Turner ACT 2612


TOWN & COUNTRY: Final Meeting Set April 8
-----------------------------------------
Notice is hereby given that the final meeting of Members and
Creditors of Town & Country Security & K9 Hire Pty Limited (In
Liquidation) A.C.N. 105 725 022 will be held at the office of
Ferrier Hodgson, Chartered Accountants, Level 1, 121-123 Crown
Street, Wollongong, New South Wales on April 8, 2005 at 10:00
a.m.

The purpose of the meeting is to:

(i) Consider the Liquidator's account of his acts and dealings
and the conduct of the winding up; and

(ii) To consider any other matter properly brought before the
meeting.

Dated this 23rd day of February 2005

Daniel I. Cvitanovic
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 1, 121-123 Crown Street,
Wollongong NSW 2500


UNIQUE VANITIES: Appoints Liquidators from Ferrier Hodgson
----------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a general meeting of the members of
Unique Vanities Pty Limited (In Liquidation) A.C.N. 058 434 183
will be held at the offices of Ferrier Hodgson (Newcastle),
Chartered Accountants, Level 3, 2 Market Street, Newcastle on
April 11, 2005 at 10:00 a.m. for the purpose of having an
account laid before them showing the manner in which the winding
up has been conducted and the property of the company disposed
of and of hearing any explanations that may be given by the
Liquidators.

Dated this 24th day of February 2005

A. E. Lewis
J. A. Shaw
Joint Liquidators
Ferrier Hodgson
Chartered Accountants
PO Box 840, Newcastle NSW 2300


WALTER CONSTRUCTION: Fate of Staff Depends on U.K. Ruling
---------------------------------------------------------
A U.K. court battle continues that threatens the entitlements of
failed Walter Construction Group's workers, Courier Mail
relates.

Former employees of failed Walter Construction Group fear they
will not receive their entitlements after German banks, Deutsche
Bank and Bayerische Landesbank, called in lawyers to recover
about AU$37 million in losses.

The money the German banks are attempting to recoup includes
Walter's cash and book debts, which are historically classified
as floating assets and are traditionally reserved for employees.
Administrator Martin Madden of firm KordaMentha said the legal
action revolved around the banks' alternative definition of
fixed and floating.

Mr. Madden said since the dispute covered an area of law that
has not been tested recently, he would be paying close attention
to an upcoming case to be heard in the House of Lords in the
U.K. next month.

Walter Construction, which called in administrators last month
after its German parent Walter Bau filed for insolvency, was
placed into liquidation by its creditors last week.


WINDOW SYSTEMS: To Declare Dividend May 3
-----------------------------------------
A first and final dividend is to be declared on May 3, 2005 for  
Window Systems Pty Limited (In Liquidation) A.C.N. 056 611 155.

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

Dated this 23rd day of February 2005

Martin J. Green
Official Liquidator
GHK Green Krejci
Level 9, 179 Elizabeth Street,
Sydney NSW 2000


WISE FINANCE: ASIC Winds Up Unregistered Investment Scheme
----------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
obtained orders in the Federal Court appointing a liquidator to
wind up an unregistered managed investment scheme promoted by
Mr. George Peat, a Darwin mortgage broker, of Wise Finance Pty
Ltd.

The Court ordered that Mr. Stephen Duncan, of KordaMentha in
Adelaide, be appointed liquidator of the scheme and the entities
through which the scheme was promoted, GTS Pacific Pty Ltd, GTS
Pacific (Australia) Pty Ltd, Esteemed Investments Pty Ltd,
Esteemed Syndicate Pty Ltd, Transparent Investments Pty Ltd,
Firstep Investments Pty Ltd and Peavar Investments Pty Ltd.

ASIC is concerned that Mr. Peat and the companies may have
breached the Corporations Act 2001 by failing to register the
scheme, and by failing to provide the necessary disclosure
documents required by entities seeking to raise funds from the
public.

"ASIC took this action to protect the interests of investors who
had invested money with the companies. The appointment of a
liquidator prevents the scheme from continuing to operate and
ensures that any returns from the winding up of the companies
can be realised," ASIC Deputy Executive Director of Enforcement,
Mr. Allen Turton said.

All seven of the defendant companies consented to the orders
sought by ASIC.

Background

Mr. Peat promoted investments in the scheme to 57 investors, who
were largely clients of his Darwin-based mortgage broking
business, Wise Finance Pty Ltd, or friends or relatives of his
clients.

The scheme related to the development, marketing, and sale of
computer software known as 'Elive2U'. The software being
developed was designed to allow people to communicate via live
video link through the Internet. A total of AU$1.7 million was
raised through the companies liquidated for the unregistered
scheme.

The liquidator, Mr. Stephen Duncan, can be contacted on (08)
8212 6322.


ZURICH FINANCIAL: Corrects False Reports
----------------------------------------
Zurich Financial Services Australia undertakes to correct false
accounts following a nine-month internal probe, The Age reports.

The beleaguered insurer will restate financial results for the
past four years after admitting it falsified accounts between
2000 and 2003. The firm has already lodged with the Australian
Securities and Investments Commission (ASIC) four formal
"request for correction" forms.

Zurich Financial was prompted to admit errors relating to the
accounting for reinsurance arrangements after a nine-month
investigation into its reinsurance dealings by both the
corporate and prudential regulators in Australia.

The Company said it will provide information on the financial
impact of these errors when it lodges its 2004 accounts,
although the company notes the impact will not be "material".

Last year, Swiss insurer Zurich Financial Services AG (ZURN.VX)
said it wasn't concerned about the Australian probe.

CONTACT:

Zurich Financial Services Australia Ltd
5 Blue St North Sydney
NSW 2060 Australia
Web site: http://www.zurich.com.au/


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

A-LEVEL EXPRESS: Court Issues Winding Up Notice
-----------------------------------------------
A-Level Express (HK) Limited with registered office located at
Room 602, North Block, Kwai Shun Industrial Centre, 51-63
Container Port Road, Kwai Chung, New Territories was issued a
winding up notice by the High Court of the Hong Kong Special
Administrative Region Court of First Instance on March 16, 2005.

Date of Presentation of Petition: December 16, 2004.

Dated this 1st day of April 2005.

ET O'Connell
Official Receiver


C&K EXPRESS: Receives Bankruptcy Order
--------------------------------------
Notice is hereby given that a Bankruptcy Order against Au Shiu
Kai Wilson trading as C&K Express Service Centre was made on
March 16, 2005.

All debts due to the estates should be paid to the undersigned.

Dated this 1st day of April 2005.

ET O'CONNELL
Official Receiver


FORTUNE SEVEN: Enters Winding Up Proceedings
--------------------------------------------
Fortune Seven Limited with registered office located at Suite
1601, 16F, Lever Technology Centre, 69-71 King Yip St. Kwun
Tong, Kln was issued a winding up notice by the High Court of
the Hong Kong Special Administrative Region Court of First
Instance on March 16, 2005.

Date of Presentation of Petition: January 5, 2005.

Dated this 1st day of April 2005.

ET O'Connell
Official Receiver


FU WAI: Receiving Proofs of Debt Until April 16
-----------------------------------------------
Notice is hereby given that a preferential payment will be
declared for Kung Chi Keung trading as Fu Wai Engineering
Company (In Bankruptcy Proceedings).

Preferential creditors who have not proved their debts by April
16, 2005 will be excluded from this payment.

Dated this 1st day of April 2005.

E T O'CONNELL
Official Receiver


OPESCO INVESTMENT: Court Releases Winding Up Notice
---------------------------------------------------
Opesco Investment Limited with registered office located at 17th
Floor, One Hysan Ave, Causeway Bay, Hong Kong was issued a
winding up notice by the High Court of the Hong Kong Special
Administrative Region Court of First Instance on March 16, 2005.

Date of Presentation of Petition: December 8, 2004.

Dated this 1st day of April 2005.

ET O'Connell
Official Receiver


RECOTON LIMITED: Annual Meeting Slated for April 13
---------------------------------------------------
Notice is hereby given that the annual meeting of the creditors
and contributories of Recoton (Hong Kong) Limited (In Creditors'
Voluntary Liquidation) will be held concurrently at the office
of Ferrier Hodgson Limited, April 13, 2005 at 3 p.m. for the
purposes of having an account laid before the meetings detailing
the Liquidators' acts and dealings and the conduct of the
winding-up during the preceding year, and of hearing any
explanations that may be given by the Liquidators.

Forms of Proxy can be obtained from the office of Ferrier
Hodgson Limited. Proxies to be used at the meetings must be
lodged at the office of Ferrier Hodgson Limited not later than 4
p.m. on the day before the meetings.  

Dated this 1st day of April 2005.

RODERICK JOHN SUTTON
Joint and Several Liquidator
FERRIER HODGSON LIMITED
14/F., Hong Kong Club Building
3A Chater Road, Central
Hong Kong


SYNTAX COMPUTER: Enters Bankruptcy
----------------------------------
Notice is hereby given that a Bankruptcy Order against Chung Kin
Ming Daniel trading as Syntax Computer Training Co. was made on
March 16, 2005.

All debts due to the estates should be paid to the undersigned.

Dated this 1st day of April 2005.

ET O'CONNELL
Official Receiver


SUPREME INVESTMENT: Winding Up Hearing Set April 12
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Supreme Investment Holdings Limited by the High Court of Hong
Kong Special Administrative Region was on the February 4, 2005
presented to the said Court by Lau Kong Sing of 23 Hong Lok Road
West, Hong Lok Yuen, Tai Po, New Territories, Hong Kong.  

The said Petition is to be heard before the Court at 9:30 a.m.
on the April 13, 2005.

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.

Messrs. Chan & Associates
Solicitors for the Petitioner
Rooms 601-2, 6th Floor
Hong Kong Trade Centre
No. 161 Des Voeux Road Central
Central, Hong Kong
Tel: 2189 7217
Fax: 2189 7216

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, 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 abovenamed not later
than six o'clock in the afternoon of April 12, 2005.


ULTIMATE CO.: Enters Bankruptcy Proceedings
-------------------------------------------
Notice is hereby given that a Bankruptcy Order against Choi Man
Wai trading as Ultimate Co. was made on March 16, 2005.

All debts due to the estates should be paid to the undersigned.

Dated this 1st day of April 2005.

ET O'CONNELL
Official Receiver


YUEN CHAK: To Hold Creditors, Contributories Meeting
----------------------------------------------------
Yuen Chak Construction Company Limited posted in a notice made
to The Standard that it would hold meetings at the following
date and time:

Date of Meetings: April 14, 2005 (Thursday)

Creditors: At 10 a.m.

Contributories: At 11 a.m.

Place:

At the Official Receiver's Office, 10th Floor, Queensway
Government Offices, 66 Queensway, Hong Kong

Dated this 1st day of April 2005.

E T O'Connell
Official Receiver & Provisional Liquidator


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

BANK MANDIRI: Sets Bank Acquisition Goals for 2005
--------------------------------------------------
Bank Mandiri management is looking to take over 9 banks with
assets above IDR10 trillion this year, reports Asia Pulse.

According to bank president ECW Neloe, the bank hopes to
increase its customer base to two million in 2005 through the
acquisitions.

Mr. Neloe added that the bank chose to take over other banks
whose assets were greater than IDR10 trillion, to realize its
plan of dominating the Indonesian banking sector.

The central bank of Indonesia encouraged banks to join together
and form mergers and acquisitions in preparation for a rule to
be implemented in 2010 that would necessitate all banks to have
capital amounting to IDR100 billion and higher.

CONTACT:

PT Bank Mandiri
Jl Jend Gatot Subroto Kav 36-38
Jakarta 12190
Indonesia
Phone: +62 21 5299 7777/5296 4023
Web site: http://www.bankmandiri.co.id


* ABN AMRO Downgrades Indonesia's Rating to "Underweight"
---------------------------------------------------------
Indonesia received a downgraded rating from "overweight" to
"underweight" by ABN AMRO due its vulnerability to an outpouring
of foreign funds, Dow Jones reports.

According to the investment bank, Indonesia has been receiving
foreign funds in 2005, mainly due to the tragedies that have
struck the nation recently, and seems to be unprotected against
further reduction in risk appetite by foreign investors.

The country has been cited as the second-biggest beneficiary of
foreign buying, after having received a total of IDR23.68
trillion in foreign funds.


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

FURUKAWA ELECTRIC: Sees Telecommunications Profit Next Year
-----------------------------------------------------------
Furukawa Electric Co. expects a recovery in the U.S. optical-
fiber market in 2006 and expects to lift sales and profits,
Bloomberg reports, citing Furukawa President Hiroshi Ishihara.

The telecommunications business accounts for 15 percent of sales
at Furukawa, whose biggest revenue source is light metals such
as aluminum cans and air conditioner parts.

The Company's net loss ballooned to JPY140 billion a year ago as
it cut jobs and capacity amid a slump in the U.S.
telecommunications market.

The Tokyo-based company expects the operating loss from
telecommunications, which includes optical fiber and cable
network equipment, to narrow 80 percent to 2.3 billion yen this
business year.

CONTACT:

Furukawa Electric Company Limited
6-1 Marunouchi 2-Chome
Chiyoda-Ku 100-8322,
Tokyo 100-8322
Japan
Phone: +81 3 3286 3518
Fax: +81 3 3286 3694  


HITACHI LIMITED: No Plan for "Poison Pill" Proposal in June
-----------------------------------------------------------
Hitachi Limited denied a report from the Asahi Shimbun that it
was considering proposing a "poison pill" provision at its
shareholders' meeting in June as a measure to prevent any
hostile takeover, according to Reuters.

The newspaper reported that the Company was mulling a provision
that would give shareholders the right to buy additional shares
at a discount should a hostile investor take about 15 to 20
percent of the Company's outstanding stock.

A "poison pill" typically grants shareholders the right to buy
more stocks at a lower price in the event of a hostile bid,
making any takeover attempt more expensive and time-consuming.

A series of acrimonious takeover battles in Japan's rigid
banking and media sectors has made it more urgent for corporate
managers to protect against becoming the target of a hostile
bid.

CONTACT:

Hitachi, Ltd.
Kantaro Tanii
Public Relations
Corporate Communications Division
Phone: +81-3-5208-9323
Fax: +81-3-4564-2149
E-mail: kantaro.tanii.gx@hitachi.com


HITACHI LIMITED: Unveils Major Push Into NAS Market
---------------------------------------------------
Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd.
(NYSE:HIT), announced a full-scale product assault on the
network attached storage (NAS) market, signaling the
introduction of multiple new NAS products spanning the high-end
enterprise to the SMB markets.

Hitachi begins its aggressive NAS product rollout in 2005 with
the introduction of next generation embedded NAS Blades for the
TagmaStore(TM) Universal Storage Platform -- products which, at
introduction, will sell for 1/3rd the price of comparable NAS
gateways and filers. With the newly introduced NAS Blades,
Hitachi will focus on capturing new NAS gateway and filer sales
opportunities, and consolidating all existing NAS gateways and
filers in an enterprise environment.

Just one NAS Blade enables consolidation of multiple NAS filers
and large NAS workloads, and reduces the cost and headaches of
procuring and managing dozens of islands of file servers or NAS
filer appliances.

As leading market research firm IDC currently forecasts the NAS
market to grow at a compound annual growth rate (CAGR) of 14.7%,
reaching $3.089B by 2008; the price/performance metrics of
Hitachi's new NAS Blade alone represent a significant
opportunity for the company to aggressively take market share
from other NAS vendors.

Following the introduction of embedded NAS Blades in its high-
end systems, Hitachi's strategy is to introduce a series of
channel-optimized midrange NAS offerings targeting the fast-
growing Windows and Linux-based SMB markets. The strategy calls
for these offerings to feature the most advanced NAS
technologies in the industry at aggressive price points with
multiple configuration options.

"The industry needs to be aware: Hitachi is coming at the NAS
market strong and hard," said Shinjiro Iwata, CEO, Hitachi Data
Systems. "Hitachi, Ltd., HDS' parent company, is focusing vast
resources on taking market share in the NAS market, and has
designed an impressive set of products which it plans to unveil
in 2005. By leveraging the technologies introduced with the
revolutionary TagmaStore Universal Storage Platform, these
products will incorporate business-enabling features and
functions that simply do not exist in the current NAS industry
landscape."

Introducing Hitachi NAS Blade for the TagmaStore Universal
Storage Platform

The Hitachi NAS Blade is the first embedded NAS blade to provide
co-existence of NAS and SAN data in the same storage pool under
common management. The fully featured NAS Blade is integrated
with the Universal Storage Platform, and able to exploit all of
its advanced virtualization capabilities.

"Customers are increasingly looking for solutions that deliver
block and file services from a centrally managed pool of storage
resources," said John McArthur, group vice president and general
manager of Information Infrastructure Research at IDC. "Hitachi,
Ltd. offers a unique solution that enables SAN and NAS to
coexist within a single, highly scalable, centrally managed
storage system, leveraging an embedded NAS blade architecture."

Customers can create tiered storage environments by moving NAS
data to any storage system attached to the Universal Storage
Platform via its Universal Virtualization Layer -- such as EMC
Symmetrix and CLARiiON CX series storage systems, and IBM
TotalStorage DS4000 and ESS 2105 models -- and integrate
management of all SAN and NAS resources, with a single point of
management for all data classes (NAS, FC, SATA, ATA, ESCON,
FICON).

"By providing embedded NAS Blades in the TagmaStore Universal
Storage Platform we are delivering an intelligent platform for
future storage and data applications. This provides better
management, security, and significantly lower cost of
infrastructure for network connectivity," said Fred Huang, vice
president, Storage Infrastructure Product Management, Hitachi
Data Systems. "With today's announcement, customers can
eliminate the need for external cabling, thereby simplifying
their access to Fibre Channel and IP protocols across the
enterprise -- and lower their management costs by consolidating
multiple images into one technically elegant, highly available,
highly reliable NAS solution. Additionally, our customers can
manage all of their storage assets from the Hitachi HiCommand(R)
Suite, further reducing cost of ownership."

"Offering a NAS blade in the USP is a smart move," said Tony
Asaro, senior analyst for Enterprise Strategy Group. "HDS
customers now have SAN and NAS storage in a single system that
leverages the value of the USP including its scalability,
reliability, data protection, and virtualization capabilities.
For USP customers the HDS NAS blade should be a no-brainer. For
customers evaluating the USP, the combination of SAN and NAS
makes it an even more compelling solution."

Key Hitachi NAS Blade Benefits

1.) Unsurpassed scalability, with up to 512TB per NAS cluster,
and 2 petabytes of NAS storage per TagmaStore Universal Storage
Platform

2.) Increased consolidation opportunities with the ability to
intermix Hitachi NAS, SAN, DAS, FICON and ESCON blades within a
single footprint

3.) Enables administrators to leverage the Universal Storage
Platform's rich software functionality such as Hitachi
TrueCopy(TM), ShadowImage(TM), Universal Replication, Volume
Migration, and high availability features across a broad range
of applications

4.) Simplified SAN/NAS management with the HiCommand Suite
improves overall management efficiency, reduces software
licenses

5.) Integrated replication and recovery for SAN and NAS data
protection using common tools and processes

6.) High performance and data integrity by cluster messaging
across the secure Hitachi Universal Star Network(TM) crossbar
switch back plane.

Availability

The Hitachi NAS Blade for the TagmaStore Universal Storage
Platform is now generally available.

About Hitachi Data Systems

Hitachi Data Systems leverages global R&D resources to develop
storage solutions built on industry-leading technology with the
performance, availability and scalability to maximize customers'
ROI and minimize their risk. By focusing on the customer's
perspective as we apply the best hardware, software, and
services from Hitachi and our partners, we uniquely satisfy our
customers' business needs.

With 2,900 employees, Hitachi Data Systems conducts business
through direct and indirect channels in the public, government
and private sectors in over 170 countries. Its customers include
more than 50 percent of Fortune 100 companies. For more
information, please visit our Web site at www.hds.com.

About Hitachi, Ltd.

Hitachi, Ltd. (NYSE:HIT), headquartered in Tokyo, Japan, is a
leading global electronics company, with approximately 326,000
employees worldwide. Fiscal 2003 (ended March 31, 2004)
consolidated sales totaled 8,632.4 billion yen ($81.4 billion).
The company offers a wide range of systems, products and
services in market sectors, including information systems,
electronic devices, power and industrial systems, consumer
products, materials and financial services. For more information
on Hitachi, please visit the company's Web site at
http://www.hitachi.com.

Contacts  

Hitachi Data Systems
Tony Hynes
Phone: 408-970-4836
E-mail: tony.hynes@hds.com
or
Blanc & Otus Public Relations
Quinn Daly
Phone: 415-856-5152
E-mail: qdaly@blancandotus.com

This is a Company press release.

  
JAPAN AIRLINES: Inaugurates Twice-weekly Tokyo-Moscow Service
-------------------------------------------------------------
Japan Airlines has inaugurated a new twice-weekly service
between Tokyo and Moscow. Operated by Boeing 777-200ER aircraft,
the flights (JL441/442) between Narita and Moscow's Sheremetyevo
Airport operate every Monday and Thursday.

On the new flights, JAL offers two-class service, with 56 of the
airline's award-winning Shell Flat Seats in JAL Executive Class
Seasons, the airline's own brand business class, and 212 economy
class seats. In both classes passengers can enjoy Magic III:
JAL's innovative AVOD (audio/ visual on-demand) personal TV in-
flight entertainment system offering a wide selection of movies,
programs, music and games.

In Japan, JAL has filed an application with the Ministry of
Land, Infrastructure and Transport (MLIT) for approval to
introduce discount round-trip economy class fares for flights
departing from Japan to Russia. These include advance purchase
(Japanese: `'Maeuri'') fares sold under the airline's `'Goku''
discount fare brand. When compared to normal published IATA
fares, savings of up to 63% are available to passengers
traveling to Russia on JAL. The fares are applicable from April
- September 2005 and available only to passengers departing from
Japan.

JAL Economy Saver - suitable for business trips as well tourist
travel as reservations possible just before departure.
Applicable for flights departing Japan on and after April 1st,
2005.

For full details including reservations, terms and conditions
relating to these fares, please consult the JAL website
www.jal.co.jp/jalgoku/, www.jal.co.jp/e_saver/ or contact the
International Reservations Center in Japan on 0120-25-5931.

CONTACT:

Japan Airlines Corporation
Address:  4-11, Higashi-shinagawa 2-chome
Shinagawa-ku, Tokyo 140-8605, Japan
Phone: +81-3-5769-6097
Fax: +81-3-5460-5929

This is a Company press release.


MATSUSHITA ELECTRIC: U.S. Unit Deepens Staff Cuts
-------------------------------------------------
Panasonic Corporation of North America, a unit of Matsushita
Electric Industrial Co., Ltd., announced that its Secaucus-based
information technology division is being outsourced to IBM,
costing more than 170 workers their jobs, NorthJersey News
reports.

The move is the third staffing cutback the company has announced
since December to cut costs and boost sales in the face of heavy
competitive pressures.

Outsourcing IT functions to IBM had been rumored for months, and
Panasonic made it official Monday morning, telling workers that
55 percent of the 310 IT employees are losing their jobs. In
addition, 25 percent (or about 75 to 80 employees) will remain
with Panasonic and 20 percent (about 60 to 65) will be offered
jobs with IBM Global Services, employees were told.

In addition, Panasonic eliminated 100 other jobs in Secaucus in
December, reducing the workforce there to about 1,600. The
company has about 25,000 employees in 90 offices in North
America.

CONTACT:

Matsushita Electric Industrial Co Ltd
1006, Oaza Kadoma
Kadoma-shi, Osaka 571-8501
Japan
Phone: +81 6 6908 - 1121
Fax: +81 6 6908 2351


MITSUBISHI MOTORS: To Expand OEM Supply for Mini-Vehicles
---------------------------------------------------------
Mitsubishi Motors Corporation and Nissan Motors have agreed to
expand their OEM supply arrangement for Mini-Vehicles, I-
Newswire reports.

Under this new agreement, Mitsubishi would supply Nissan with an
additional mini-vehicle on an OEM basis starting in the first
half of fiscal year 2005. With this, the annual mini-vehicle
supply from Mitsubishi to Nissan will increase more than two-
fold from 20.000 units at present to 56,000 units.

Specifically, Mitsubishi will supply Nissan with a total of
36.000 eK series mini-passenger cars. This is in addition to the
20,000 Minicab mini-commercial vehicles it currently supplies.
The Minicab, featuring both a truck and van version, has been
one of Nissan's products. Nissan has been selling this model
under the Clipper name since October 2003. This time, two
variations of the EK series will be supplied by Mitsubishi, the
eK Wagon and eK Sport.
    
With the new eK, Nissan will now have three mini-vehicles in its
product lineup. Nissan also sells the Moco mini-passenger car.
These three models will broaden the company's customer base.
Mitsubishi has supplied a total of 33,300 Minicabs between
October 2003 and December 2004.

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 TOKYO: To Liquidate Subsidiary
-----------------------------------------
Mitsubishi Tokyo Financial Group, Inc. (MTFG; President: Nobuo
Kuroyanagi) announced that The Mitsubishi Trust and Banking
Corporation (MTB), a consolidated subsidiary of MTFG, has
decided to liquidate Mitsubishi Trust Finance (Ireland) PLC.

Mitsubishi Trust Finance (Ireland) PLC is a consolidated
subsidiary of MTB.

1. Outline of Mitsubishi Trust Finance (Ireland) PLC

(1) Address: 5th Floor, Custom House Plaza No.4, Harbourmaster
             Place, Dublin 1, Ireland

(2) Managing Director:  Akira Ishikawa

(3) Capital:            US dollars 50 million

(4) Business:           Finance

2. Reason for Liquidation

As it has been decided to discontinue the operations of
Mitsubishi Trust Finance (Ireland) PLC; the company is therefore
being liquidated.

3. Timing of liquidation

Liquidation is expected to be complete by the end of September
2006.

4. Impact on MTFG's business forecast

This event is not expected to have any material effect on MTFG's
previously announced business forecast for the current fiscal
year.

CONTACT:

Mitsubishi Tokyo Financial Group, Inc.
Corporate Communications Office
Phone: 03-3240-9059

This is a Company press release.


MITSUBISHI TOKYO: Unit Decides to Liquidate Leasing Firm
--------------------------------------------------------
Mitsubishi Tokyo Financial Group, Inc. (MTFG; President: Nobuo
Kuroyanagi) announced on March 30 that The Mitsubishi Trust and
Banking Corporation (MTB), a consolidated subsidiary of MTFG,
has decided to liquidate N517UA LLC and N383UA LLC.

N517UA LLC and N383UA LLC are consolidated subsidiaries of MTB.

1. Outline of N517UA LLC and N383UA LLC

(1) Address: 2711 Centerville Road, Suite 400 Wilmington,
Delaware, U.S.A.
(2) Capital: U.S. dollar 1
(3) Business: Leasing

2. Reason for Liquidation

Each LLC has been established in connection with some specific
aircraft-related transactions. As we will assign the remaining
claims under these transactions to a third party, these LLCs
will lose its purpose for its establishment.

3. Timing of liquidation

Liquidation is expected on or after March 31, 2005.

4. Impact on MTFG's business forecast

This event is not expected to have any material effect on MTFG's
previously announced business forecast for the current fiscal
year.

Contact:
Mitsubishi Tokyo Financial Group, Inc.
Corporate Communications Office
Phone: 03-3240-9059

This is a Company press release.


SOJITZ HOLDINGS: To Launch Indian Enterprise
--------------------------------------------
As of April 1, 2005, Sojitz Holdings Corporation will establish
Sojitz India Private Ltd., with a 100 percent stake being held
by Sojitz Asia Pte Ltd. The aim of the new company is to expand
business in India, which comprises one component of the BRICs
nations and where continuing rapid growth is expected.

Through the establishment of the local enterprise, Sojitz will
expand the scope of its activities in the Indian market, and
aims to achieve a transformation to a solid form of business,
which enables the company to keep pace with change. The company
will expand profits through direct market entry and the
development of locally based business.

Sojitz India, to be established with the purpose of expanding
business opportunities and securing profits in line with
advances in the Indian economy, intends to reassemble segments
with relatively small transaction volumes, such as synthetic
resin, general commodities and foodstuff, and will construct a
system to prepare for an overall raising of the total economic
volume. Further, through the incorporation of the local
enterprise, Sojitz plans to grasp business opportunities in
segments such as logistics and local processing, with which
segments it has not previously dealt, and to expand
profitability through expansion of trade with countries mainly
with Asian countries, in addition to the trade with Japan.

In regard to the respective areas of machinery, chemicals and
steel materials, which exist core businesses of Sojitz, the
company plans to achieve further expansion through more
concentration of resources. In the machinery segment, the
company will focus its efforts on electronic communications,
automobiles and motorcycles, in the chemicals segment, on
exports from India, and in the steel materials segment, on
entering into export markets other than Japan.

For a long time, India, with the world's second largest
population of approximately 1 billion and its vast expanse of
national land, followed a closed economic policy with many
restrictions, from the standpoint of protecting domestic
industries, and was way behind in receiving foreign investment.
Although the country's nominal GDP is US$550 billion, which is
less than that of China where economic growth is sustained,
liberalization and revitalization of the economy has been
advancing in India since the introduction of the new economic
policy in 1991, against the backdrop of India's joining the WTO
in 1995 and the recent enhancement of FTA negotiations that have
become lively in the East Asia region. In addition, with the IT
revolution as typified by the Internet, rapid expansion of the
software industry, which has been brought about by the country's
high level of education producing massive numbers of engineers
majoring in math and science, is expanding business process
outsourcing (BPO) to India at high speed. Such rapid expansion
has begun to contribute to the revitalization of the Indian
economy.

All of operations that have been conventionally carried out by
liaison offices in India will be placed under the control of
Sojitz India Private Ltd., and the company will aim to achieve
sales of 50 billion yen in three years time. Sojitz India
Private Ltd. will commence its operations with an initial staff
of 46, broken down into 5 representatives and 41 locally hired
employees. It is planned that the number of employees will
increase as is thought fit, along with expansion of trade rights
and increases in revenue.

[Outline of Sojitz India Private Ltd.]

  Representative: Akira Murakami
  Establishment: April 1, 2005
  Capital: 80 million Indian rupees (equivalent to US$1.85
  million)
  Head office: New Delhi
  Branch office: Mumbai

CONTACT:

Sojitz Holdings Corporation
Takeshi Yoshimura
General Manager
Public Relations Dept.
Phone: +81-3-5520-3404

This is a Company press release.


TEAC CORPORATION: METI OKs Restructuring Plan
---------------------------------------------
The business restructuring plan submitted by TEAC Corporation on
March 10, 2005, was examined pursuant to Article 3, Paragraph 6
of the Law on Special Measures for Industrial Revitalization,
and found to fulfill the restructuring requirements of Article
2, Paragraph 2, Clause 1, and innovation requirements of Clause
2.

The Ministry of Economy, Trade and Industry approved the plan on
March 23.


TOSHIBA CORPORATION: Responds to Jury Verdict in U.S. Lawsuit
-------------------------------------------------------------
Toshiba Corporation on March 25 announced that a jury in the
California Superior Court in San Jose found Toshiba and its U.S.
subsidiary, Toshiba America Electronic Components, Inc. (TAEC),
liable for US$465 million due to alleged NAND flash-related
trade secret misappropriation and related misconduct.

Toshiba believes that the verdict rendered by the jury was in
error, and we plan to pursue all available legal avenues to
correct it. Toshiba invented NAND flash memory technologies and
has been a pioneer throughout its development. At this time,
Toshiba does not plan to revise projections for fiscal 2004
business performance due to this matter.

Flash memory remains a strategic product for Toshiba, and one in
which Toshiba owns the original technologies. Toshiba will
continue to strongly promote its NAND flash business.

CONTACT:

Toshiba Corporation
1-1-1 Shibaura, Minato-ku, Tokyo, Japan
Contact: Naoto Hasegawa, General Manager
Corporate Communication Office
Phone: 81 3 3457 2096

This is a Company press release.


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

HYNIX SEMICONDUCTOR: Creditors Agree to End Debt Workout Early
--------------------------------------------------------------
Hynix Semiconductor Inc. creditors agreed to let the Company
graduate from its debt workout program ahead of schedule,
reports Reuters News.

Creditor Korea Exchange Bank said that creditors had also
decided to end creditor-led management for the company. In a
statement, KEB said that creditors would to discuss particulars
such as disposal of stake in Hynix and the debt payment
schedule.

This agreement by creditors to end its debt workout early,
together with a possible stake sale, meant that the Company had
improved to a level where it could stand on its own.

Hynix Semiconductor almost went bankrupt after a government-
forced merger with a local rival in 1999, which amounted to huge
debt for the Company. The firm managed to stay afloat after
several bailouts by creditors, who now own 81% of Hynix.

CONTACT:

Hynix Semiconductor Inc. (HIS)
891 Daechi-dong, Kangnam-gu,
Seoul, Korea
Phone: 82-2-3459-3470
Fax:   82-2-3459-5987/8
Web site: http://www.hynix.com


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

CHG INDUSTRIES: SC, Authorities Review Proposed Scheme
------------------------------------------------------
CHG Industries announced that in relation to the application on
the Proposed Debt & Corporate Restructuring Scheme that the
Company submitted to on Dec. 24, 2004, the Securities Commission
and other relevant authorities are still evaluating the
application.

The Restraining Order granted on the Company in order to
complete implementation of the proposed scheme has been extended
for a period of 90 days from Jan. 29 to April 28, 2005.

CONTACT:

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


MMC CORPORATION: Bond Sale Unlikely to Affect Revenue
-----------------------------------------------------
MMC Corporation Berhad's plans to sell Syariah-compliant bonds
worth MYR247 billion is not expected to greatly affect the
Company's revenue, Business Times reports.

According to AM Research Securities, the Company's expected sale
through subsidiary Konsortium Butterworth-Kulim Sdn Berhad
(which will issue the bonds) would not increase revenue that
much since KBK is only a small unit of the Company, and does not
generate significant revenues for the firm.

The bonds issue will raise funds needed to refinance the unit's
syndicated term-loan facility. Syariah-compliant bonds are
Islamic bonds that forbid interest payments (following syariah
principle), but pay investors based on profits from approved
investments.

CONTACT:

MMC Corporation Berhad
10th Floor, Block B, HP Towers
No. 12, Jalan Gelenggang
Damansara Heights, 50490
Kuala Lumpur, Malaysia
Phone: +603 2092 5588
Fax:   +603 2093 9917


NALURI BERHAD: Case Hearing Postponed to April 12
-------------------------------------------------
Naluri Berhad refers to the litigation hearing on Petition No.
D2-26-88-2004 filed by Adenan Bin Ismail on the Company.

The Company announces that the hearing on the Petitioner's
Injunction and the Respondent's Striking out Applications in
relation to the case, which was scheduled for March 8, 2005, has
now been postponed to April 12, 2005.

CONTACT:

Naluri Berhad
161B Jalan Ampang
Kuala Lumpur, 50450
Malaysia
Phone: +60 3 2162 0878
Fax:   +60 3 2162 0676


RHB CAPITAL: To Hold 10th AGM on April 28
-----------------------------------------
RHB Capital Berhad announced that the Company will hold its 10th
Annual General Meeting (AGM) at the Grand Prince Ballroom, Level
3, Prince Hotel & Residence Kuala Lumpur, Jalan Conlay, 50450
Kuala Lumpur, on Thursday, April 28, 2005, 10:00 a.m.

The AGM Notice, which was published in Utusan Malaysia and The
Star on April 6, 2005, is attached herewith.

To view a full copy of the notice, go to:

http://bankrupt.com/misc/tcrap_rhbcapital040605.doc

CONTACT:

Rhb Capital Berhad
Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Phone: +60 3 9287 8888
Fax:   +60 3 9280 6507


TALAM CORPORATION: Loan Stocks Payment Due This Month
-----------------------------------------------------
Talam Corporation Berhad announced the following:

1) The Company's securities will be traded and quoted (Ex-
Interest) from April 7, 2005.

2) The last date of lodgment will be on April 11, 2005.

3) Date Payable: April 20, 2005.

CONTACT:

Talam Corporation Berhad
5th Floor, Wisma Talam
52 Jalan Kampung Attap
50460 Kuala Lumpur, WP
Malaysia
Phone: 603-2732222
Fax:   603-2731439


TALAM CORPORATION: To Reduce Borrowings by Selling Off Assets
-------------------------------------------------------------
Talam Corporation is set to sell its hotel in China and land
bank in Selangor and Kuala Lumpur as a way to cut back on its
borrowings, the Star News reports.

Sources said that the Company has agreed to sell two pieces of
land in Selangor for MYR113 million in cash. The Company hopes
to raise up to MYR400 million from the sale if its assets.

The Company sold one plot of land to IJM Corporation Berhad,
while the other plot was sold to a joint venture between the
Company and IJM Properties Sdn Berhad, to facilitate a high-end
project.

The Company is also looking for a buyer to buy its Maxcourt
Hotel in Changcun, Jilin Province in China. The hotel is
conservatively valued at MYR202 million.

The Company is also negotiating to sell three acres of land
beside the Ritz Carlton Hotel in Kuala Lumpur for an estimated
MYR100 million.

All these sales would contribute to reducing the Company's
short-term debts, which amounted to MYR1.8 billion as of Jan.
31, 2005.


TT RESOURCES: Trading in Warrants Suspended Prior to Expiry
-----------------------------------------------------------
TT Resources Berhad announced the following:

(i) The Company's Warrants will expire on Friday, April 22,
2005, 5:00 p.m.

(ii) Trading in The Company's Warrants were suspended on
Wednesday, April 6, 2005, in order to facilitate the exercise of
the Warrants.

(iii) The Company's Warrants will be removed from the Official
List of Bursa Securities on Monday, April 25, 2005, 9:00 a.m.
   
CONTACT:

TT Resources Berhad
Lot 302, 3rd Floor, Wisma Dijaya
No. 1A, Jalan SS 20/1
Damansara Utama 47400
Petaling Jaya, Selangor
Darul Ehsan, Malaysia
Phone: 03-77268297
Fax:   03-77268076
Web site: http://www.ttrb.com.my


WEMBLEY INDUSTRIES: Proposed Scheme Awaits SC Approval
------------------------------------------------------
Wembley Industries Holdings Berhad refers to the announcement
dated Feb. 23, 2005 in relation to the Company's proposed debt
restructuring scheme, capital reduction & consolidation and
rights issue.

Wembley Industries Holdings Berhad (WIHB) announced that the
Company on March 18, 2005 submitted an appeal to the Securities
Commission (SC) to seek the SC's reconsideration for the
extension of time for the implementation of the Proposals, for a
period of an additional twelve (12) months from Jan. 27, 2005 to
Jan. 27, 2006 (Appeal).

The Appeal is currently pending the SC's approval of the SC.

CONTACT:

Wembley Industries Holdings Berhad
No 1 Jalan Pandungan
Kuching, Sarawak 93100
Malaysia
Phone: +60 82 236920
Fax:   +60 82 236922


WOO HING: Creditors Meet to Decide on Unit's Liquidation
--------------------------------------------------------
Woo Hing Brothers (Malaya) Berhad announced that the Company's
members and creditors will hold a meeting on April 15, 2005,
9:00 a.m. at 22 Monteiro & Heng Chambers, Jalan Tun Sambanthan
3, 50470 Kuala Lumpur, to finalzie the voluntary liquidation of
Company subsidiary, Golden Linear Marketing Sdn Berhad.

The Company creditors and members will consider the
Liquidatior's Statement of Accounts, and the disposal of the
unit's books, documents and records at the meeting.

CONTACT:

Woo Hing Brothers (Malaya) Berhad
179 Jalan Bukit Bintang
Kuala Lumpur, 55100
Malaysia
Phone: +60 3 2144 1233
Fax:   +60 3 2142 2228


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

MANILA ELECTRIC: Junks Refund Notes
-----------------------------------
Manila Electric Company (Meralco) prefers issuing postdated
checks rather than notes it proposed to cover refund to large
commercial establishments and industries, The Manila Standard
reports.

The power utility firm is looking at the possibility of issuing
postdated checks after the Energy Regulatory Commission (ERC)
noted that issuance of notes would be a very "expensive"
undertaking.

The notes issuance will prompt the Company to pay underwriters
and agents. The cost of implementing refund notes will be huge,
so Meralco believes issuing postdated checks would be the best
alternative. The cost will be substantially or about 75 percent
lower since most of the activities would be done internally.

Meralco could issue postdated checks on a quarterly basis within
a 63-month period starting July 2005, the same scheme it
proposed for the refund notes.

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Phone:  16220 (TL); 633-4553 (Corp. Sec.)
Fax:  (0632) 631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


MAYNILAD WATER: Government Seeks US$125-Mln Loan to Fund Rehab
--------------------------------------------------------------
The government is keen on securing a US$125-million loan from
the World Bank to finance the rehabilitation of Maynilad Water
Resources Inc. (Maynilad), according to The Philippines Star.

State officials are still in on-going talks for the loan, which
would support the rehabilitation of Maynilad's most problematic
pipelines and ultimately curb the Company's non-revenue water
(NRW).

Maynilad's rehabilitation program is due within the year,
although the government has still to decide when it intended to
dispose of the Company after its franchise was returned by the
Lopez group.

But while the rehab plan is still under deliberations, Maynilad
has already conducted a temporary scheme that would trim the
water utility firm's huge losses.

The appointment of a receiver and the approval of Maynilad's
draft rehabilitation plan had compelled both Maynilad's
creditors and investors to continue discussing the Company's
recovery program.  

CONTACTS:

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


NATIONAL BANK: Confirms President's Resignation
-----------------------------------------------
The Philippine National Bank (PNB) issued this announcement in
reference to the news article entitled "Lorenzo Tan quits as PNB
President effective April 10" published in the April 4, 2005
issue of the Manila Bulletin.

The article reported that:

"Philippine National Bank President and CEO Lorenzo V. Tan is
resigning from the bank effective April 10, PNB said in a
statement. Tan has opted not to renew his three-year contract in
favor of 'greener pastures' offered to him by a reputable
foreign institution with businesses in insurance and financial
services, according to sources. The PNB board of directors
announced yesterday Tan's decision not to extend his contract
with the bank. Sources said the PNB board is currently
considering two names, Executive Vice Presidents Omar Mir and
Carmen Huan as replacement for Tan."

In relation thereto, PNB submitted to the Exchange the following
Press Release:

               PNB ANNOUNCES LORENZO V. TAN'S RESIGNATION

The Board of Directors of the Philippine National Bank announced
the resignation of its president and CEO, Mr. Lorenzo V. tan,
effective April 10, 2005. Mr. tan tendered his resignation to
the PNB board, advising them of his decision to move towards
some of the goals he has set for his career by exploring
opportunities with a foreign institution.

Tan joined the Bank on April 10, 2002 after PNB's two major
shareholders namely the government-owned Philippine Deposit
Insurance Corporation (PDIC) and the Lucio Tan Group invited him
to take over the top management post of the country's national
bank. At that time, the PDIC had just infused Php7.8 billion in
equity, in the form preferred shares in the Bank, in line with
the Bank's five-year rehabilitation program. Tan's principal
mandate was to lead the Bank's five-year rehabilitation efforts
and turn around the financial performance of the Bank from
losses to profits. Tan is credited with the adoption of the good
bank-bad bank strategy that successfully enabled the Bank to
turn in a modest profit of Php168 million in 2003 after five
years of successive losses. For 2004, based on preliminary
unaudited financial statements, the net income has been
sustained and doubled to a level of Php353 million.

Tan was able to attract a number of highly qualified senior
officers from other banks to join him in the Bank's
rehabilitation. Together with the Bank's existing cadre of
seasoned officers, the Bank has in place a strong management
team to sustain the growth in resources and profitability of the
Bank.

The Board of Directors expressed its deep appreciation to Mr.
Tan for all his efforts and dedication towards the turnaround of
the Bank and wished him all the best in his future endeavors.

In a letter dated April 4, 2005, further disclosed that:

"PNB would like to advise that the quoted news article is
basically correct except that the PNB Board will be taking the
appointment of Mr. Omar Mier as Acting President at our
forthcoming Board Meeting."

For your information.

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Philippine National Bank
Pres Diosdado P Macapagal Boulevard
PNB Financial Center
Pasay 1300
Philippines
Phone: +63 2 891 6040
Fax: +63 2 551 5187
Web site: http://www.pnb.com.ph


PHILIPPINE LONG: To List More Shares Today
------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone
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 4,116
common shares have been availed of and fully paid by the
optionees under the Company's ESOP.

In view thereof, the listing of the 4,116 common shares is set
for Thursday, April 7, 2005. This brings the number of common
shares listed under the ESOP to a total of 447,184 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, Listings 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


PILIPINO TELEPHONE: Seeks to Bar Digitel from 24/7 Discussions
--------------------------------------------------------------
Pilipino Telephone Corp. (Piltel) recently asked the government
to prevent Digital Telecommunications Inc. from discussing the
case of its Unlimited 24/7 promotions at the National
Telecommunications Commission (NTC) to the public, according to
Business World.

Piltel said allowing Digitel to comment on the hearings could
solicit unnecessary public sympathy.

The NTC has earlier received a formal complaint by Digitel
regarding problems to its interconnection links with rival Smart
Communications Inc., an affiliate of Pilipino Telephone.

Digitel told the NTC that it has been experiencing high
incidence of voice call and text message failures in its
interconnection links with Smart. The firm forecasts a monthly
revenue loss of Php5.44 million should the problem persist.

CONTACT:

Pilipino Telephone Corporation
G/F Mobiline Centre
6764 Ayala Avenue
1200 Makati City
Philippines
Telephone: 63 2 811 8888
Fax: 63 2 817 6888


VICTORIAS MILLING: Picks CL Manabat as External Auditor
-------------------------------------------------------
The Annual Stockholders' Meeting of Victorias Milling Company
Inc. (VMC) was held on April 1, 2005 at the Metropolitan Club
Inc. at 9:00 o'clock in the morning. During the said meeting,
the Stockholders appointed the auditing firm of CL Manabat & Co.
as VMC's External Auditor for Crop Year 2004-2005.

During the election of the VMC Board of Directors, the following
were elected as Members of the Board:

Representing the Existing Stockholders:

(1) Mr. Abelardo E. Bugay
(2) Mr. Norberto B. Capay
(3) Mr. Wilson T. Young

Representing the Secured Creditors:

(4) Mr. Hubert D. Tubio

Representing the Creditors with Debt Conversion (Unsecured
Creditors):

(5) Mr. Alexis R. Borlaza
(6) Ms. Cecilia C. Borromeo
(7) Mr. Renato A. Castillo
(8) Mr. Jose M. Chan, Jr.
(9) Mr. Jaine C. Laya
(10) Mr. Omar Byron T. Mier

Representing the Joitn Venture Partner:

(11) Mr. Mariano C. Tanenglian

Thereafter, an Organizational Meeting of the Board of Directors
was held where the following persons were duly nominated and
elected to the offices appearing opposite their respective
names:

Omar Byron T. Mier            - Chairman of the Board
Jose M. Chan, Jr.             - Vice Chairman of the Board
Abelardo E. Bugay             - President
Cecilia C. Borromeo           - Treasurer
Eva A. Vicencio-Rodriguez     - Assistant Corporate Secretary
and
                                Compliance & Information Officer
Teresita V. Ilagan            - Controller  

CONTACT:

Victorias Milling Co. Inc.
9126 Sultana cor. Honradez Sts.
Barangay Olympia, Makati City
Tel. No/s: 896-0381; 899-0485
Fax No/s: 895-4150
E-mail Address: fal@philonline.com
Web site: http://www.victoriasmilling.com
Auditor: Joaquin Cunanan & Company
Transfer Agent: Fidelity Stock Transfer, Inc.


* RP Debt Hits Php4.6 Trillion in 2004
--------------------------------------
A data from the Department of Finance (DOF) showed the country's
outstanding public sector debt reached Php4.6 trillion in 2004,
up by 5.6 percent from Php4.3 trillion in 2003, The Manila
Bulletin reveals. The debt was equivalent to 94.8 percent of
last year's gross domestic product.

The DOF said the non-financial public sector debt climbed by
Php243.6 billion. In the meantime, the total domestic debt
increased by 8.8 percent to Php1.5 trillion while total foreign
debt reached Php3.1 trillion, up 4.1 percent from the previous
Php2.9 trillion.

The DOF said the NG debt including intrasector debt holdings,
represents 81.2 percent of the total non-financial public sector
debt.

Total government obligations reached Php3.7 trillion or 77
percent of GDP as of September last year, higher by Php373.9
billion. In the meantime the Php257 billion rise in domestic
debt was attributed to the net issuance of government
securities.

The fourteen monitored non-financial government corporations
recorded a debt level of Php1.7 billion during the said period,
or 35.1 percent of GDP. It was higher by 3.8 percent or Php61.9
billion to Php1.6 trillion the previous year.

The National Power Corp. which includes the National
Transmission Corp. and the Power Sector Assets and Liabilities
Management Corp. holds 80.5 percent of the total debt of the 14
MNFGCs. It incurred a debt of Php1.4 trillion or Php52.5 billion
more from 2003.

The DOF said the Social Security Institutions showed the highest
growth of 31.7 percent to Php43.8 billion from Php33.3 billion.
This is because of the increase in deferred credits posted by
the Government Service Insurance System. In the meantime Local
Government Units also increased 10.4 percent to Php48.5 billion.
The Central Bank Board of Liquidators however, reduced its debt
by 12.4 percent from Php60.5 billion to Php53 billion.

DOF data said the fourteen GOCCs registered an aggregate deficit
of Php90.7 billion, lower than the projected deficit of Php125.5
billion. The source of savings came largely from lower than
program cost to acquire fixed assets for most government firms.


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

ACCORD CUSTOMER: Postpones AGM to June 30
-----------------------------------------
The Board of Directors of Accord Customer Care Solutions Limited
informed the Singapore Stock Exchange (SGX) that the Singapore
Exchange Securities Trading Limited (SGX-ST) has granted an
extension of two months to June 30, 2005 for the Company to hold
its Annual General Meeting (AGM) as required pursuant to
paragraph 10 of Appendix 2.2 of the Listing Manual of the SGX-
ST.

The Extension was sought, as the audited accounts of the Company
will not be finalized within the timeframe required for the
Company to hold its AGM by April 30, 2005. This is due to the
ongoing investigations by the Commercial Affairs Department and
PricewaterhouseCoopers (as announced on February 22, 2005 and
February 28, 2005 respectively), which may require the Company
to amend the unaudited FY2004 results.

The Extension is conditional upon the Company obtaining approval
from the Accounting and Corporate Regulatory Authority for the
extension of time to hold its AGM by June 30, 2005.

By Order Of The Board
Woo Kah Wai
Company Secretary
April 5, 2005
Singapore

CONTACT:

Accord Customer Care Solutions Limited
20 Toh Guan Road #07-00
Accord Distri Centre
Singapore 608839
Telephone: 65 64102600
Fax: 65 64102610
Web site: http://www.accordccs.com


GREATRONIC LIMITED: Hires PrimePartners as Financial Adviser
------------------------------------------------------------
Greatronic Limited announced to the Singapore Stock Exchange
(SGX) the appointment of PrimePartners Corporate Finance Pte Ltd
(PPCF) as the financial advisers of the Company with effect from
April 4, 2005.

PPCF has been appointed to provide financial advisory services
to the Board of Directors in evaluating various restructuring
proposals that may result in a change in the principal business
of the Company and/or a change in control or reverse-takeover of
the Company.

The appointment of PPCF is for a period of 6 months, or such
other period as may be agreed between PPCF and the Company.

By Order of the Board
Greatronic Limited
April 5, 2005

CONTACT:

Greatronic Ltd (formerly: Cybermast Ltd)
627A Aljunied Road #07-02
Biztech Centre
Singapore 389842
Telephone: 65 68417828
Fax: 65 68417282
Web site: http://www.greatronic.com/


IPCO INTERNATIONAL: Board OKs Divestment of 3,000,002 Shares
------------------------------------------------------------
Pursuant to Rule 704(14) of the Listing Manual of the Singapore
Exchange Securities Trading Limited (SGX-ST), the Board of
Directors of IPCO International Limited announced that at the
Extraordinary General Meeting convened at 24 Pandan Road,
Singapore 609275, the following resolutions put to the meeting
as set out in the Notice of EGM dated March 9, 2005 have been
duly passed by a show of hands:

AS ORDINARY RESOLUTION RESOLUTION 1:

The Proposed Divestment

That approval be and is hereby given for the Proposed Divestment
by the Company of 3,000,002 ordinary shares of S$1.00 each in
the issued share capital of Insitu Envirotech Pte Ltd, which
includes its wholly-owned subsidiaries, Ipco Insituform
(S.E.Asia) Pte Ltd, Insitu Envirotech (HK) Ltd and IEL
Envirotech (M) Sdn Bhd, to IJM Construction Sdn Bhd (the
Purchaser) for a sum of S$4,830,000; and

The Directors be and are hereby authorized to do all such acts
and things as they may consider necessary, desirable or
expedient to give effect to the Proposed Divestment and/or the
transactions contemplated under the Sale Agreement and this
Resolution, including without limitation to the foregoing, to
negotiate, sign, execute and deliver all documents, approve any
amendments, alteration or modification to any document and affix
the Common Seal of the Company to any such documents, if
required.

AS SPECIAL RESOLUTION RESOLUTION 2:

The Proposed Capital Reduction Exercise

That pursuant to Article 10 of the Company's Articles of
Association and subject to the provisions of Section 73 of the
Companies Act, Cap. 50 and to the confirmation by the High
Court, approval be and is hereby given for the Directors to
carry out the following actions to effect the Proposed Capital
Reduction Exercise:

(A) The capital of the Company be reduced from S$300,000,000
divided into 1,500,000,000 ordinary shares of S$0.20 each, of
which 825,781,612 ordinary shares of S$0.20 each have been
issued and paid-up, or credited as fully paid-up, to
S$75,000,000 divided into 1,500,000,000 ordinary shares of
S$0.05 each, of which 825,781,612 ordinary shares of S$0.05 each
will be issued and paid-up, or credited as fully paid-up, and
that such reduction be effected by:

(i) Canceling the paid-up share capital of the Company to the
extent of S$0.15 on each of the 825,781,612 ordinary shares,
which have been issued and fully paid-up or credited as fully
paid-up;

(ii) Reducing the nominal amount of all ordinary shares, both
issued and unissued, from S$0.20 to S$0.05 each;

(iii) Where required, the Directors be authorized to issue new
share certificates reflecting the new par value of S$0.05 per
share to replace any existing share certificates of par value
S$0.20 per share and that the Common Seal of the Company be
affixed onto such new share certificates in accordance with the
Articles of Association of the Company; and

that forthwith upon the reduction of the capital of the Company
as aforesaid (the Capital Reduction) taking effect:

(a) An amount equal to S$121,906,031, being part of the credit
arising from the Capital Reduction, will be applied to write off
all of the accumulated losses of the Company as at 30 April
2004;

(b) There shall be credited to a new reserve account to be
designated as the Capital Reduction Reserve in the books of the
Company for the balance of S$1,961,210 being the credit arising
from the Capital Reduction. The Capital Reduction Reserve shall
not be treated or used by the Company as a distributable reserve
for dividend purposes save in connection with a capitalization
of reserve in accordance with Article 132 of the Articles of
Association of the Company and the Companies Act; and

(c) The authorized capital of the Company be restored to its
former capital of S$300,000,000 by the creation of an additional
4,500,000,000 new ordinary shares of S$0.05 each.

(B) The first sentence of Clause 5 of the Memorandum of
Association of the Company be deleted and that the following be
substituted thereof:

"The share capital of the Company is S$300,000,000 divided into
6,000,000,000 ordinary shares of S$0.05 each."

(C) The Articles of Association of the Company be amended by
deleting Article 3 thereof in its entirety and replacing it with
the following:

"The authorized capital of the Company is S$300,000,000 divided
into 6,000,000,000 ordinary shares of S$0.05 each."

(D) Approval be and is hereby given to the Directors to take
such steps and exercise such discretion in connection with all
or any of the above matters, with full power to assent to any
condition, modification, variation and/or amendment as may be
required by the relevant authorities, as the Directors may in
their absolute discretion deem fit, advisable, necessary or
expedient to give effect to this Resolution and the Capital
Reduction.

CONTACT:

IPCO International Limited
7 Temasek Boulevard 038987
SINGAPORE
Telephone: +65 2642711
           +65 2642091/2641469  
Web site: http://www.ipco.com.sg/


KANEKO ASIA: Particulars of Debt, Claim Due on May 4
----------------------------------------------------
Notice is hereby given that the creditors of Kaneko (Asia) Pte
Ltd (In Members' Voluntary Liquidation), which is being wound up
voluntarily are required on or before May 4, 2005 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 are,
by their solicitors or personally, to come in and prove their
debts or claims at such time and place as shall be specified in
such notice, or in default thereof they will be excluded from
the benefit of any distribution made before such debts are
proved.

Dated this 4th day of April 2005.

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


NATSTEEL LIMITED: Acquires 5.5% Equity Stake in Unit
----------------------------------------------------
Natsteel Limited (NATSTEEL) announced at the Singapore Stock
Exchange (SGX) that its wholly owned subsidiary Eastern Pretech
Pte Ltd has acquired the remaining 5.5 percent equity stake in
its subsidiary Parmarine Ltd for a cash consideration of 1.71
million Euro (approximately SG$3.70 million) pursuant to a
management contract entered into at Eastern Pretech Pte Ltd's
initial investment in Parmarine Ltd.

Upon completion of this transaction, Parmarine Ltd will become a
wholly owned subsidiary of NATSTEEL.

Parmarine has a net tangible assets value of Euro 7.02 million
(approximately SG$15.19 million) as at December 31, 2004.

The above transaction was funded by internal resources and is
not expected to have any material impact on the earning per
share or tangible assets per share of the NATSTEEL group.

None of the directors or substantial shareholders or controlling
shareholders of NATSTEEL has any interest in this transaction.

By Order of the Board
Lim Su-Ling
Company Secretary

CONTACT:

NatSteel Limited
22 Tanjong Kling Road
Singapore 628048
Telephone: 65 62651233
Fax: 65 62658317
Web site http://www.natsteel.com.sg
  

NATSTEEL LIMITED: AGM Slated for April 8
----------------------------------------
Notice is hereby given that the 45th Annual General Meeting of
Natsteel Limited will be held at Function Rooms 1-3, Raffles
Marina Ltd, 10 Tuas West Drive Singapore 638404 on April 8, 2005
at 2:30 p.m. for the following purposes:

ORDINARY BUSINESS

(1) To receive and adopt the Directors' Report and the Audited
Accounts of the Company for the year ended 31 December 2004
together with the Auditors' Report thereon. (Resolution 1)

(2) To re-elect the following Directors retiring pursuant to
Articles 86 and 93 of the Company's Articles of Association:

Mr. Karamjit Singh Butalia (Retiring under Article 86)
(Resolution 2)

Mr. Fu Kuo Chen David (Retiring under Article 86) (Resolution 3)

Mr. Kevin Yip Ka Kay (Retiring under Article 86) (Resolution 4)

Mr. Gan Kim Yong (Retiring under Article 93) (Resolution 5)

Mr. Karamjit Singh Butalia will upon re-election as Director of
the Company, remain as a member of the Nominating Committee.

Mr. Fu Kuo Chen David will upon re-election as Director of the
Company, remain as a member of the Remuneration Committee and
Nominating Committee.

Mr. Kevin Yip Ka Kay will upon re-election as Director of the
Company, remain as a member of the Audit Committee and will be
considered non-independent for the purposes of Rule 704(8) of
the Listing Manual of the Singapore Exchange Securities Trading
Limited.

(3) To approve the payment of Directors' fees of S$664,000.00
for the year ended December 31, 2004. (2003: S$623,000.00)
(Resolution 6)

(4) To approve the payment of Final Dividend of 20% per ordinary
share or S$0.10 per ordinary share (exempt-one tier) for the
financial year ended December 31, 2004 as recommended by the
Directors. (Resolution 7)

(5) To re-appoint Messrs PricewaterhouseCoopers as the Company's
Auditors and to authorise the Directors to fix their
remuneration. (Resolution 8)

(6) To transact any other ordinary business which may be
properly be transacted at an Annual General Meeting. (Resolution
9)

SPECIAL BUSINESS

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

(7) That pursuant to Section 161 of the Companies Act, Cap. 50
and the listing rules of the Singapore Exchange Securities
Trading Limited, authority be and is hereby given to the
Directors of the Company to issue shares in the Company (whether
by way of rights, bonus or otherwise) at any time and upon such
terms and conditions and for such purposes and to such persons
as the Directors may in their absolute discretion deem fit
provided that:

(i) The aggregate number of shares to be issued pursuant to this
Resolution does not exceed 50% of the issued share capital of
the Company, of which the aggregate number of shares to be
issued other than on a pro-rata basis to shareholders of the
Company does not exceed 20% of the issued share capital of the
Company;

(ii) For the purpose of determining the aggregate number of
shares that may be issued under (i) above, notwithstanding the
provisions of Article 52(2) of the Articles of Association of
the Company, the percentage of issued share capital shall be
based on the issued share capital of the Company at the time
this Resolution is passed, after adjusting for

(1) New shares arising from the conversion or exercise of any
convertible securities or share options that are outstanding
when this Resolution is passed, and

(2) Any subsequent consolidation or subdivision of shares; and

(iii) Unless revoked or varied by the Company in general
meeting, the authority conferred by this Resolution shall
continue in force until the conclusion of the next Annual
General Meeting of the Company or the date by which the next
Annual General Meeting of the Company is required by law to be
held, whichever is the earlier. [See Explanatory Note (i)]
(Resolution 10)

(8) That pursuant to Section 161 of the Companies Act, Cap. 50,
the directors be authorized to offer and grant options pursuant
to the provisions of the Natsteel Ltd Share Option Scheme (the
Scheme) and to allot and issue shares from time to time such
number of ordinary shares in the capital of the Company as may
be required to be issued pursuant to the exercise of options
granted under the Scheme, provided that the aggregate number of
shares to be issued pursuant to the Scheme shall not exceed
fifteen per centum (15 percent) of the issued share capital of
the Company from time to time. [See Explanatory Note (ii)]
(Resolution 11)

By Order of the Board
Lim Su-Ling (Ms)
Company Secretary
Singapore, 05 April 2005

Explanatory Notes:

(i) The Ordinary Resolution 10 proposed in item 7 above, if
passed, will empower the Directors to issue shares in the
Company up to the limits specified therein from the date of this
Annual General Meeting up to the next Annual General Meeting.

For the purpose of determining the aggregate number of shares
that may be issued, the percentage of issued share capital will
be calculated based on the Company's issued share capital at the
time that this Resolution is passed, after adjusting for the
conversion or exercise of any convertible securities and share
options, if any, that have been issued or granted and which are
outstanding at the time that this Resolution is passed, and any
subsequent consolidation or subdivision of shares.

(ii) The Ordinary Resolution 11 proposed in item 8 above, if
passed, will empower the Directors of the Company, from the date
of the above Meeting until the next Annual General Meeting, to
offer and grant options in accordance with the provisions of the
Scheme and to allot and issue shares as may be issued pursuant
to the exercise of options under the Scheme up to a number not
exceeding in total fifteen per centum (15 percent) of the issued
and paid up share capital of the Company from time to time.

Notes:

(1) A member of the Company entitled to attend and vote at the
Annual General Meeting is entitled to appoint not more than two
proxies to attend and vote in his stead.

(2) A member of the Company which is a corporation is entitled
to appoint its authorized representative or proxy to vote on its
behalf.

(3) A proxy need not be a member of the Company.

(4) The instrument appointing a proxy must be deposited at the
registered office of the Company at 22 Tanjong Kling Road,
Singapore 628048, not less than 48 hours before the time set for
holding the Annual General Meeting.


STARTECH ELECTRONICS: Clarifies Straits Times News Article
----------------------------------------------------------
In an announcement made to the Singapore Stock Exchange (SGX) on
behalf of Startech Electronics Ltd., the directors of the
company issued a clarification to the article in the Straits
Times on April 4, 2005.

The subsidiaries, Startech Manufacturing (Dongguan) Limited and
Weinixing Electronics (Shenzhen) Limited, both established in
the People's Republic of China, are wholly owned subsidiary of
Startech Manufacturing Pte Ltd (SMPL).

As announced previously, to the best of the knowledge and belief
of the Board, these two subsidiaries have been inactive in 2004
and they:

- have not earned material income or incurred material expenses;
and

- that there were no material liabilities and assets.

The financial impact, where material, arising from this
development has already been considered and accounted for in the
consolidated results announced previously.

Given the Company's direction to restructure its business, the
Company has deemed that it would not be cost beneficial to spend
its resources and management time to procure the financial
audits of these two PRC subsidiaries.

The accounts of these subsidiaries have been prepared based on
information and documents available and have already been
included in the consolidated financial statements of the Group
when the Group reported its results for the financial year ended
December 31, 2004.

On the basis of the above, the Directors are of the view that
the concerns raised by BDO Raffles, external auditors of the
Group, reflect the status and position that have been previously
announced and that their concerns do not in any way materially
affect the consolidated financial statements of the Group that
have been previously announced.

The Directors are neither aware nor have they been advised by
BDO Raffles, of any adjustments that may be necessary to address
the auditors' concerns.

Lim Tai Toon
Managing Director
   

CONTACT:

Startech Electronics Ltd
11 Collyer Quay
The Arcade #13-01
Singapore 049317
Telephone: 65 62200762
Fax: 65 62202839
Web site: http://www.startechgrp.com


SUNWAY BUSINESS: Proofs of Debt, Claim Due April 30
---------------------------------------------------
Notice is hereby given that the creditors of Sunway Business
Systems Pte Ltd (In Voluntary Liquidation), which is being wound
up voluntarily, are required on or before April 30, 2005 to send
in their names and addresses with particulars of their debts and
claims, and the names and addresses of their solicitors (if any)
to the undersigned of 1 North Bridge Road, #13-03 High Street
Centre, Singapore 179094, the Liquidator of the said Company.

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

Dated this 31st March 2005

Tay Joo Soon, CPA
Liquidator


WEARNES INTERNATIONAL: Remuneration Committee Member Resigns
------------------------------------------------------------
Wearnes International (1994) Limited (WIL) announced in a
disclosure to the Singapore Stock Exchange (SGX) that Mr. Soh
Yew Hock has resigned as a member of the Remuneration Committee
with effect from 5 April 2005.

Mr. Tan Choon Seng, a non-executive and non-independent
director, has been appointed a member of the Remuneration
Committee with effect from 5 April 2005.

Consequent to the above, the composition of the Remuneration
Committee of WIL is as follows:

Chairman: Mr. Chen Choong Joong (Independent Director)

Members:

Mr. Tom Yee Lat Shing (Independent Director)
Mr. Tan Choon Seng (Non-independent Director)

By Order of the Board
Ong Kim Teck
Company Secretary
Singapore
April 5, 2005
  
CONTACT:

Wearnes International (1994) Limited
45 Leng Kee Road
159103
Singapore
Telephone: +65 6471 6288/ +65 6472 0009


WIRELESS COMMUNICATIONS: Creditors Should Prove Debt by April 28
----------------------------------------------------------------
Notice is hereby given that the Creditors of Wireless
Communications International Pte Ltd (In Members' Voluntary
Winding-Up), which is being wound up voluntarily, are required
on or before April 28, 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
Joint Liquidators of the said Company.

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

Dated this 28th day of March 2005.

Steven Tan Chee Chuan
and
Douglas Tan Kay Yeow
Joint Liquidators
138 Cecil Street
#15-00 Cecil Court
Singapore 069538


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

NEW PLUS: Moves to Exit Rehabco Sector
--------------------------------------
From the directors meeting of New Plus Knitting Company Limited
No.3/2548 on April 5, 2005 at 2:00 p.m., the board of directors
had resolved to notify the Stock Exchange of Thailand in the
matter of transferring the company to REHABCO (companies under
rehabilitation) section.  

(1) NPK practices business in a normal manner without breaking
any contracts by regularly returning the interest and the
principal on time, which would consider that the company is
operating normally without any problem with its cash flow.

(2) NPK has an operating loss and the earning per share is
negative because the auditors set up a great amount of the
allowance of the obsolete stock from 2542-2547.

The board of directors notified the Stock Exchange of Thailand
that NPK chooses to restructure the company in the way that can
provide the best interest to the company without using
independent financial advisors.  

This selection is carefully considered since NPK does not have a
problem with its cash flow and has not broken any rules or
contracts with any financial institutions.

The board of directors understands and will quickly let the
company profit and achieve a better cash flow as soon as
possible.

Sincerely

Mrs.Orasa Kruthakool
Director

Miss Warcharee Wattanawikkij
Director

CONTACT:

New Plus Knitting Public Company Limited   
34 Moo 20, Saladang, Ban Num Priao, Chacherngsao    
Telephone: 0-3859-3126   
Fax: 0-3859-3125   


POWER-P: Lays Out Meeting's Resolution, AGM Agenda
--------------------------------------------------
Power-P Public Company Limited (the Company) informed the Stock
Exchange of Thailand (SET) of the following resolutions passed
by the Board of Directors Meeting No. 6/2005, which was held on
April 4, 2005 at 2:00 p.m. at Power-P Public Company Limited,  
20th Floor,  900/16 Thanasin Tower, Rama III Road, Bangpongpang,
Yannawa, Bangkok 10120.

(1) Approved for the omission of dividend payment for the
Company's operational performance during January 1 to December
31, 2004 because the Company still had the accumulated loss as
of the year ended 2004.

The resolution will be subjected to the consideration and
approval of the shareholders' meeting.

(2) Approved for the amendment to Clause 15 of the Articles of
Association of the Company. The existing provisions shall be
cancelled and replaced by the following:

Clause 15      

The directors shall be elected at the shareholders meeting by
the following manners:

(1) In electing Directors by majority votes, each shareholder
shall have one vote for each of his/her share (1 share/1 vote)

(2) Each shareholder may give all his/her votes (according to
(1)) to elect one or several Directors but shall -not divide
his/her votes unequally among any particular persons.

(3) The persons shall be elected, in order, from those receiving
the highest votes, to fill the positions of Directors as
required, or to fill the vacancies during that particular
election.  

In the event of the person having the same number of votes,
which will cause the number of elected persons to exceed the
number required for that particular election, the final decision
shall be made by the Chairman.

The resolution will be subjected to the consideration and
approval of the shareholders' meeting.

(3) Resolved to appoint Mr.Paiboon Chorchaitis, Mr. Vunchai
Demake, whose directorship had expired for reappointment for
another term, and to appoint Mr. Rapee Asumpinpong to replace
Mr. Chairath Ketphasook, whose directorship had expire this
term.

The Board also approved the director's remuneration for 2005 not
to exceed THB2,500,000 per annum (Two Million Five Hundred
Thousand Baht Only).

The resolution will be subjected to the consideration and
approval of the shareholders' meeting.

(4) Approved to appoint Mr. Atipong Atipongsakul, CPA No. 3500
and/or Mr. Prawit Viwanthananut, CPA No. 4917 of ANS Audit
Company Limited as the Company's auditors for the year of 2005,
and also fix their remuneration not to exceed THB750,000.

The resolution will be subjected to the consideration and
approval of the shareholders' meeting.

(5) Resolved to fix the date of the Annual General Meeting of
Shareholders for the year of 2005 on April 29, 2005 at 9:00 a.m.
at Grand Hyatt Erawan Bangkok Hotel, Amarin Room, 494 Rajadamri
Road, Pathumwan, Bangkok in order to consider the following
agendas:

Agenda 1     

To certify the Minutes of the Extraordinary General Meeting of
Shareholders No. 1/2005.

Agenda 2     

To consider and adopt the board of directors' reports on the
Company's operational performance for the year 2004.

Agenda 3     

To consider and approve the audited balance sheet and the profit
and loss statement for the year ended on December 31, 2004.

Agenda 4    

To consider and approve for the omission of dividend payment for
the year 2004

Agenda 5

To consider the amendment to the Articles of Association of the
Company, Clause 15

Agenda 6   

To consider the appointment of directors in place of those whose
completed their terms and fix their remuneration.

Agenda 7    

To consider the appointment of the auditors and fixing their
remuneration for the year 2005

Agenda 8     

Other business (if any)

(6) Resolved to fix the closing date of Share Registrar Book on
Monday, April 18, 2005 at 12:00 p.m. to suspend the transfer of
shares and fix the name of the shareholders for determination of
right to attend the Annual General Meeting of Shareholders for
the year 2005 until the said meeting is duly adjourned.

Please be informed accordingly.

Mr. Kittiphat Intrarakaset
Deputy Managing Director - Corporate Planning and Investing

CONTACT:

Power-P Public Company Limited   
Laopengnguan Bldg 1,
333 Vibhavadi Rangsit Road,
Chatu Chak, Bangkok    
Telephone: 0-2618-8555-7, 0-2618-8888   
Fax: 6188078, 6188140-2


POWER-P: Enters Alliance with Nophawong Construction
----------------------------------------------------
Power-P Public Company Limited, notified the Stock Exchange of
Thailand (SET) that the Company has entered into a Joint Venture
Agreement with Nophawong Construction Co., Ltd.; hereinafter
called JVPower-Nophawong for the purpose of bidding of the
construction project of "50-Years Mahavachiralongkorn's building
for Research and Agricultural sciences Development of Kasetsart
University."

Hence, JVPower-Nophawong won the bidding of the project. And the
construction contract has been signed with Kasetsart University
since April 1st, 2005 with the value of project at
THB157,169,061 (VAT included).

The project shall be completed no later than 500 days from the
site granted date of April 18, 2005.  The proportion of
investment between the Company and Nophawong is 49 percent and
51 percent, respectively.

Please be informed accordingly.

Faithfully yours,
Kittiphat Intharakaset
Deputy Managing Director - Corporate Planning and Investing


WYNCOAST INDUSTRIAL: Capital Reduction Completed
------------------------------------------------
With reference to the Extraordinary Shareholders Meeting No.
2/2004 of Wyncoast Industrial Park Public Company Limited on
January 17, 2005, regarding the capital reduction by changing
the par value from THB10 to THB1 per share, the company informed
the Stock Exchange of Thailand (SET) that the registration of
capital reduction with the Ministry of Commerce was completed on
the March 31, 2005.

Presently, The Company has the registered capital amounting to
THB1,468,835,640 (One Billion Four Hundred Sixty-Eight Million
Eight Hundred Thirty-Five Thousand Six Hundred and Forty Baht)
and the paid-up capital amounting to THB1,400,937,360 (One
Billion Four Hundred Million Nine Hundred Thirty-Seven Thousand
Three Hundred and Sixty Baht).

Please be informed accordingly.
Yours sincerely,
Mrs. Sunisa Prathompreuk
Chief Financial Officer, Acting

CONTACT:

Wyncoast Industrial Park Public Company Limited   
105 Moo 3,Bangna-Trat Road,
Thakham,Bang Pakong Chacherngsao    
Telephone: 0-3857-3161-72   
Fax: 0-3857-3173-4




                            *********


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