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

                     A S I A   P A C I F I C

             Monday, August 8, 2005, Vol. 8, No. 155

                            Headlines

A U S T R A L I A

AGENIX LIMITED: Starts Mass Manufacture of Thromboview
ALWAYS AT CALL: Members, Creditors to Convene Final Meeting
AUSTRAL COAL: Centennial Allots New Shares
BONLAC FOODS: Still On Watch Pos After Move to Sell to Fonterra
CARLEE PTY: Succumbs to Voluntary Liquidation

CMI CORPORATION: To Declare Dividend August 19
CORPAK INTERNATIONAL: To Pay Dividend to Priority Creditors
DORANS FINE: Boss Skips Creditors Meeting
DOURNANE PTY: Liquidator To Explain Winding Up Manner
EASYSLIM AUSTRALIA: Members, Creditors to Meet August 12

FELTRAX HOLDINGS: Begins Winding Up Proceedings
G&F STEELE: Creditors Opt for Voluntary Liquidation
GOLDEN CHEF: Delivery Continues Despite Financial Strife
INL INVESTMENTS: Appoints Official Liquidator
JOBE TOURISM: Enters Liquidation

KIOLA PTY: Geoffrey Adcock Named Liquidator
KNIGHTS INSOLVENCY: Quotes 2.3 Mln Shares
KNIGHTS INSOLVENCY: Withdraws Court Action Against Duncan
LANDON SMITH: Placed Under Voluntary Liquidation
LOY YANG: To Review Debt Structure

MAYNE GROUP: To Appeal Australian Court Decision for Epirubicin
NEW ERA: Members to Hear Liquidator's Wind-up Report
ORIDIN PTY: Inability to Pay Debts Prompts Wind-up Action
PACIFICA GROUP: Swimming Up After Big Plunge
PROJECT DYNAMICS: To Hold Final Meeting on Aug. 12

PS LLOYD: Liquidator to Distribute Company Assets Soon
SANTOS LIMITED: Takes Exploration Position in Central Asia
SANTOS LIMITED: Unit to Farm Into Kyrgyz Oil Interests
SKEP PTY: Liquidator to Explain Wind Up to Members
SOLARIS HOLDINGS: Members Choose to Wind Up

SPORTSGO PTY: Court Orders Liquidation
TOUKAY INVESTMENTS: Members Decide to Close Operations
XANADU WINES: Shareholders OK Sale of Business, Name Change
* Delisted Issues Annual Failed Companies List


C H I N A  &  H O N G  K O N G

BANK OF CHINA: British Bank Eyes 10% Stake
BEST FUNDS: Creditors Meeting Set August 29
CHINA SPECIAL: Director You Jinzhou Resigns
GUANGDONG KELON: Shenzhen Court Freezes Asset
ISTEELASIA HOLDINGS: Notes Increase in Trading Volume

JANWORLD INDUSTRIAL: Winding Up Hearing Slated for September 28
JUN CHENG: Falls Into Liquidation
MOULIN GLOBAL: Willie International Eyes Takeover
MULTILINK DEVELOPMENT: Begins Winding Up Process
PLUS HOLDINGS: Delays FY/2005 Financial Results

SERENDIPITY LIMITED: Court to Hear Wind-up Petition Next Month
SHUN QUN: Schedules Winding-up Hearing September 28
VICTORY GROUP: Notes Unusual Price, Volume Movements
WINNER WAYS: Schedules Creditors' Meeting August 29


I N D O N E S I A

BANK MANDIRI: Allots IDR291.88 Bln to Expand IT Facilities
DANAREKSA SEKURITAS: Writes Off Bad Debts, Boosts Provisions
GARUDA INDONESIA: Looks to Reschedule Debt Due to Bad Business
PERTAMINA: Shuts Down Cilapan Refinery Unit for Maintenance


J A P A N

HITACHI LIMITED: Scraps Air Conditioning Joint Venture Deal
MARUZEN COMPANY: METI OKs Restructuring Plan
OLYMPUS CORPORATION: Strengthens Business Alliance With Terumo
SONY CORPORATION: S&P Mulls Downgrades for Subsidiaries
UFJ HOLDINGS: Clarifies Bank-unit Merger Report


K O R E A

ASIANA AIRLINES: Management Schedules Talk Friday Afternoon
BRIDGE SECURITIES: To Undertake Mandatory Capital Reduction
HYNIX SEMICONDUCTOR: Disposes of 2.34% Stake in Hyundai Autonet
LG CARD: Union Demands Investigation of Group Chairman


M A L A Y S I A

AKTIF LIFESTYLE: AGM Slated for August 25
AKTIF LIFESTYLE: SC Extends Deadline for Submission of Proposal
AVANGARDE RESOURCES: Still In Negotiations to Regularize Plan
AYER HITAM: Financial Condition Still Unchanged
BELL & ORDER: Court Extends Restraining Order for 6 Months

BUKIT KATIL: Status to Regularize Plan Remains Unchanged
CONSOLIDATED FARMS: Defaults on Monthly Payment
CHG INDUSTRIES: Awaits SC Approval on Restructuring Scheme
DATUK KERAMAT: Shares Trading Suspended
GEORGE TOWN: Bourse Halts Securities Trading Pending Report

GULA PERAK: Issues Notice of Book Closure
KRAMAT TIN: Appeals SC Decision
LITYAN HOLDINGS: Commences Proposed Restructuring Scheme
MAXIS COMMUNICATIONS: Bourse to List Additional Shares
MEGA PASCAL: Still in Talks over Regularization Plan

MENTIGA CORPORATION: Inks Second SSA on Disposal of Shares
MTD CAPITAL: Repurchases Ordinary Shares
MWE HOLDINGS: Unveils Related Party Transaction
PETALING TIN: To Apply for Lifting of PN17 Condition


P H I L I P P I N E S

ABS-CBN BROADCASTING: Adds New Cable Anime Channel
INTERPHIL LABORATORIES: SEC Approves Amended By-Laws
NATIONAL BANK: Sugar Farmers Call for Postponement of Stake Sale
NATIONAL POWER: ERC Demands Adherence to Dispatch Scheme
NATIONAL TRANSMISSION: Braces for Speedy Privatization in Q4


S I N G A P O R E

CHARTERED SEMICONDUCTOR: Starts Tender Offer for Senior Notes
RANCHHODDAS PURSHOTTAM: Creditor Seeks to Close Down Business
SEP LOGISTICS: To Distribute Dividend to Creditors
SING MALAYA: Receiving Proofs of Claim August 12
SPH MEDIAWORKS: Distributes Dividend to Preferred Creditors

ZANTRON PTE: Creditors Asked to Submit Debt Claims


T H A I L A N D

PACIFIC ASSETS: Net Loss Balloons to THB90,700,000
PICNIC CORPORATION: Names New Director
KUANG PEI: Wants to Remain a Listed Company

     -  -  -  -  -  -  -  -

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

AGENIX LIMITED: Starts Mass Manufacture of Thromboview
------------------------------------------------------
Agenix Limited has signed a contract with Diosynth
Biotechnology, a division of Organon, the human healthcare
business unit of Akzo Nobel, one of the world's leading
companies in healthcare products, coatings and chemicals, to
begin the process of manufacturing ThromboView for Phase III
clinical trials and commercial sale.

Over the past twelve months, in conjunction with Florian Wurm
PhD, Chief Science Officer of ExcellGene SA in Monthey,
Switzerland, and his team, Agenix has been able to increase the
productivity of the cell line ten-fold, resulting in smaller
scale commercial manufacture and significant economic benefits.

The process development and manufacturing agreement will see
Agenix transfer the manufacturing process developed by the
company to the Research Triangle Park facility of Diosynth
Biotechnology for further process refinement and cGMP
manufacturing commencing immediately. The Diosynth Biotechnology
facility has been inspected by the FDA and EMEA. The goal of the
collaboration is to enable Agenix to supply cGMP material for
Phase III clinical trials by the third quarter of next year.

"This is a very important milestone in the ThromboView program
and we are pleased to have engaged an experienced company with a
successful track record in the transfer and manufacture of
biotechnology products," said Agenix Managing Director Donald
Home.

"Given the promising results we have seen from the clinical
trials completed so far we remain confident in both the clinical
need and performance for this product. With this manufacturing
transfer we will be able to continue to drive the clinical
development and deliver as per our timeline."

"We are pleased with Agenix's confident selection of Diosynth
Biotechnology and excited to apply our process development and
manufacturing expertise toward the commercialization of this
innovative product," said Frank Tielens, President of Diosynth
Biotechnology.

Recruitment for the Phase Ib PE (pulmonary embolism) safety
trial in Australia has commenced with 4 patients now
successfully enrolled out of the planned 14.

The Phase II DVT (deep vein thrombosis) trial in the United
States and Canada is underway and has recruited 32 patients.
There is an interim analysis of this trial planned after 50
patients have been recruited. The first patient in that trial
was recruited in early March 2005.

Agenix plans to conclude a Sales, Marketing and Distribution
agreement by the end of this calendar year and the manufacturing
transfer and the results of the ongoing studies are key
components of this agreement.

CONTACT:

Agenix Limited
11 Durbell Street
Acacia Ridge QLD 4110
Phone: +61 7 3370 6396
Fax: +61 7 3370 6347
E-mail: mail@agenix.com
Web site: http://www.agenix.com


ALWAYS AT CALL: Members, Creditors to Convene Final Meeting
-----------------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of Always At Call Pty Limited will be held at Jirsch
Sutherland & Co., Wollongong on Friday, Aug. 12, 2005, 10:00
a.m., for the purpose of having an account laid before them
showing the manner in which the winding up was conducted, the
property of the Company disposed of and of hearing any
explanations that may be given by Liquidator.

Dated this 12th day of July 2005

Danny Vrkic
Liquidator
C/o Jirsch Sutherland & Co.
Wollongong


AUSTRAL COAL: Centennial Allots New Shares
------------------------------------------
Centennial Coal refers to the Appendix 3B lodged on March 16,
2005 regarding new shares to be issued as a result of the scrip
for scrip share offer for Austral Coal Limited.

Centennial confirms that it has allotted a further 208,067
ordinary shares resulting from acceptances for Austral shares
received up to August 4, 2005. This represents the sixth and
seventh allotments under the offer. In total 63,751,174 fully
paid ordinary shares have been issued under the offer to-date.

These new shares rank pari passu with existing shares.

As a result of the above noted allotment, the total number of
fully paid ordinary shares in issue is now 268,704,409.

CONTACT:

Austral Coal Limited
ACN 069 071 816
Level 18, 25 Bligh Street Sydney
NSW 2000 Australia
Telephone: 61+02+8256-4700
Facsimile: 61+02+9235-0997
E-mail: info@austcoal.com.au
Web site: http://www.austcoal.com.au


BONLAC FOODS: Still On Watch Pos After Move to Sell to Fonterra
---------------------------------------------------------------
Standard & Poor's Ratings Services said that its 'B+' rating on
Bonlac Foods Ltd. remains on CreditWatch where it was placed
with positive implications on June 7, 2005.

Bonlac Supply Co. (BSC) shareholders today voted to accept
Fonterra Co-operative Group Ltd.'s (AA-/Stable/A-1+) offer to
buy BSC's 50% shareholding in Bonlac Foods Ltd. This will take
Fonterra's ownership in Bonlac Foods to 100%. Resolution of the
CreditWatch will follow the completion of the transaction.

Once Fonterra achieves 100% ownership of Bonlac Foods, Bonlac
Foods' rating will be raised to 'A+'. The lack of a guarantee
from Fonterra means that Bonlac Foods' rating is notched
slightly below that on Fonterra, despite an implied strong level
of support from Fonterra for Bonlac Foods' outstanding debt
obligations.

Ratings are statements of opinion, not statements of fact or
recommendations to buy, hold, or sell any securities. Standard &
Poor's (Australia) Pty. Ltd. does not hold an Australian
financial services license under the Corporations Act 2001. Any
rating and the information contained in any research report
published by Standard & Poor's is of a general nature. It has
been prepared without taking into account any recipient's
particular financial needs, circumstances, and objectives.
Therefore, a recipient should assess the appropriateness of such
information to it before making an investment decision based on
this information.

CONTACT:

Bonlac Foods Limited
Level 7/636 St Kilda Rd
Melbourne
VIC 3004
Phone: +61 3 9270 0922
Fax: +61 3 9270 0911
Web site: http://www.bonlacfoods.com/


CARLEE PTY: Succumbs to Voluntary Liquidation
---------------------------------------------
At a general meeting of the members of Carlee Pty Limited duly
convened and held on June 21, 2005, the following special
resolution was passed:

That on the winding up of the Company subject to the payment of
debts and liabilities and costs of liquidation, its assets be
distributed among the members in specie, according to their
rights and interest in the Company; and

That the company be wound up voluntarily in accordance with the
provisions of Section 491 of the Corporations Act 2001; and

That Hugh Lachlan McPharlin, Chartered Accountant, be appointed
liquidator for the purpose of such winding up.

Hugh Lachlan McPharlin
Liquidator
Suite 5, 1st Floor
4-8 Angas Street
Kent Town, South Australia


CMI CORPORATION: To Declare Dividend August 19
----------------------------------------------
CMI Corporation Limited will declare a dividend on Aug. 19,
2005.

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

Dated this 4th day of July 2005

Pau Burness
Liquidator
Worrells Solvency & Forensic Accountants
Level 5, 15 Queen Street
Melbourne Vic 3000
Web site: www.worrells.net.au


CORPAK INTERNATIONAL: To Pay Dividend to Priority Creditors
-----------------------------------------------------------
Corpak International Pty Limited is set to declare a first and
final dividend on Aug. 19, 2005.

Priority creditors who were not able to prove their debts or
claims will be excluded from the benefit of the dividend.

Dated this 21st day of June 2005

R. W. Whitton
Liquidator
Lawler Partners
Chartered Accountants
Level 7, 1 Margaret Street
Sydney NSW 2000


DORANS FINE: Boss Skips Creditors Meeting
-----------------------------------------
The owner of embattled blackcurrant syrup producer Dorans Fine
Foods failed to show up at a meeting of the firm's creditors
held Wednesday last week, Mercury News has learned.

Voluntary administrator Barry Hamilton convened the meeting of
five creditors and a number of staff but adjourned quickly when
Launceston businessman Philip Ridyard did not attend.

Mr. Hamilton told the attendees that Mr. Ridyard had not
supplied information he needed. He is understood to have told
the meeting that the administration could not advance until Mr.
Ridyard provided more information.

Mr. Ridyard said earlier he had not had access to enough
financial information to put finance in place.

The Huon Valley-based business has ceased production and staff
has been terminated. Former staff said the company was starved
of working capital.

CONTACT:

Doran's Fine Foods
Pages Road,
Grove,
Tasmania 7109
Phone: (03) 6266 4377
International +61 3 6266 4377
Fax: (03) 6266 4636
E-mail: dorans@doransjams.com
Web site: http://www.doransjams.com/


DOURNANE PTY: Liquidator To Explain Winding Up Manner
-----------------------------------------------------
Notice is hereby given that the final meeting of the creditors
and members of Dournane Pty Limited will be held on Aug. 15,
2005, 11:00 a.m. at the offices of Jones Condon Chartered
Accountants, Level 1, 34 Charles Street, Parramatta NSW to lay
before the meeting an account showing how the winding up was
conducted and the property of the Company disposed of, and to
give any explanation thereof.

Dated this 28th day of June 2005

Schon G. Condon
Liquidator
c/o Jones Condon
Chartered Accountants
Phone: 02 9893 9499


EASYSLIM AUSTRALIA: Members, Creditors to Meet August 12
--------------------------------------------------------
Notice is hereby given that a Final Meeting of Members and
Creditors of Easyslim Australia Pty Limited will be held on Aug.
12, 2005, 10:30 a.m. at Level 3, 60 Castlereagh Street, Sydney,
NSW 2000 to have an account laid before them, showing the manner
of the winding up and disposal of Company property, and the
termination of the administration.

Dated this 28th day of June 2005

David G. Young
Liquidator
Level 3, 60 Castlereagh Street
Sydney NSW 2000


FELTRAX HOLDINGS: Begins Winding Up Proceedings
-----------------------------------------------
At a general meeting of the members of Feltrax Holdings Pty
Limited held on June 24, 2005, a special resolution to wind up
the Company voluntarily was passed.

Timothy J. Cuming
David C. Pratt
Liquidator
Level 15, 201 Sussex Street
Sydney NSW 1171


G&F STEELE: Creditors Opt for Voluntary Liquidation
---------------------------------------------------
Notice is hereby given that at a meeting of the members and
creditors of G&F Steele Pty Limited held on June 24, 2005, it
was agreed by Special Resolution that the Company be wound up
voluntarily as a Creditors Voluntary Winding Up, and that
Geoffrey Charles Ridgeway & Philip John McGibbon, Chartered
Accountants and Registered Liquidators of Jenkins Peake & Co.,
1st Floor, Lexen Building, 200 Malop Street, Geelong, 3220, be
appointed Joint and Several Liquidators for the winding up.

Any information in regard to the Report as to Affairs or the
liquidation generally, may be obtained by contacting the
Liquidators' office.

Dated this 24th day of June 2005

Philip McGibbon
Geoffrey Ridgeway
Liquidators
Jenkins Peake & Co.
PO Box 1570, Geelong 3220
Phone: (03) 5223 1000
Fax:   (03) 5221 4938


GOLDEN CHEF: Delivery Continues Despite Financial Strife
--------------------------------------------------------
The food delivery operation of embattled catering group Golden
Chef will continue to trade despite the financial woes of the
second part of the group, The Advertiser reports.

The Commonwealth Bank has appointed receiver-manager
SimsPartners SA to secure its exposure while the family-owned
business sorts through its problems.

The move came after the appointment last week of liquidator
Maris Rudaks & Associates to wind up the Golden Chef Australia
entity, one of the 83 operating companies in the group. Golden
Chef is working on a recovery plan to satisfy creditors and
restructure the group.

The Adelaide-based company, which runs more than 226 catering
vans in South Australia and Victoria and employs 400 people, is
trading under an "independent company" in the Golden Chef group.

Managing Director Pantelis Charitopoulos said it was business as
usual while Golden Chef management and corporate recovery firm
Ferrier Hodgson worked on a restructure. He joined his sister,
operations manager Marina Nikolakakis, in thanking creditors for
their patience.

He said letters were being sent to all creditors of Golden Chef
Australia telling them of moves to satisfy debts.

Meanwhile, liquidator Mr. Rudaks said his investigations had
established unsecured trade creditors were owed about AU$2.7
million.

"A proposal might be put forward next week to sort out the
problem," he said.

This could involve a deed of company arrangement to place Golden
Chef Australia in voluntary administration.

CONTACT:

Golden Chef
203-205 Hanson Road
Athol Park South Australia 5012
Phone: 1300 881 588/ 08 8348 1700
Fax: 08 8445 6488
Web site: http://www.goldenchef.com.au/


INL INVESTMENTS: Appoints Official Liquidator
---------------------------------------------
Notice is hereby given that at a General Meeting of Members of
INL Investments (Australia) Limited, duly convened and held on
June 22, 2005, a Special Resolution that the Company be wound up
voluntarily was passed by members, and G. C. Ridgeway was
appointed Liquidator for such purpose.

Dated this 23rd day of June 2005

G. C. Ridgeway
Liquidator
c/o Level 1, 161 Collins Street
Melbourne Vic 3000
Phone: (03) 9038 3100


JOBE TOURISM: Enters Liquidation
--------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Jobe Tourism Pty Limited held on June 21,
2005, it was resolved that the Company would be wound up
voluntarily and that Andrew Stewart Reed Hewitt of Grant
Thornton be appointed liquidator for the winding up.

Dated this 24th day of June 2005

Andrew S. R. Hewitt
Liquidator
Grant Thornton
Rialto Towers, Level 35
South Tower, 525 Collins Street
Melbourne Vic 3000


KIOLA PTY: Geoffrey Adcock Named Liquidator
-------------------------------------------
Notice is hereby given that by a resolution passed at the
Meeting of Shareholders of Kiola Pty Limited held on June 28,
2005, it was resolved that the Company would be wound up
voluntarily, and that Geoffrey N. Adcock be appointed liquidator
for such purpose.

Geoffrey N. Adcock
Liquidator
Level 4, 222 Clarence Street
Sydney NSW 2000


KNIGHTS INSOLVENCY: Quotes 2.3 Mln Shares
-----------------------------------------
Knights Insolvency Administration Ltd applied for the quotation
of 2,272,727 ordinary shares to fund current operations on
August 4, 2005.

There are 63,373,764 ordinary shares and 8,340,120 options
quoted.

CONTACT:

Knights Insolvency Administration Ltd
Level 14, Brisbane Club Tower
241 Adelaide Street
Brisbane QLD 4000
Phone: 61-7-3004 3200
Fax: 61-7-3004 3201
Web site: http://www.knights.com.au/


KNIGHTS INSOLVENCY: Withdraws Court Action Against Duncan
---------------------------------------------------------
Knights Insolvency Administration Limited (Knights) on Friday
provided an update of its position in relation to current
litigation against a former executive director, Mr. Adrian
Duncan.

Current Position

Further to previous announcements, Knights on Friday advised
that it has reached an agreement with Mr. Duncan to discontinue
the existing Supreme Court action against him on the basis that
Knights are not prevented from bringing fresh proceedings or
claiming the same relief in fresh proceedings.

Disclosure

As required by ASX Listing Rule 3.1, Knights will continue to
keep the market informed regarding the above and changes in the
operating and financial position of the Company as and when they
occur.


LANDON SMITH: Placed Under Voluntary Liquidation
------------------------------------------------
Notice is hereby given that at a general meeting of members of
Landon Smith Holdings Pty Limited held on July 1, 2005, it was
resolved that the Company be wound up as a members' voluntary
liquidation, and that Ian Landon Smith be appointed liquidator
for such winding up.

Dated this 1st day of July 2005

Ian Landon Smith
Liquidator
38 Kintore Street
Wahroonga NSW 2076


LOY YANG: To Review Debt Structure
----------------------------------
Loy Yang Power has announced that it is investigating debt-
refinancing opportunities in light of buoyant capital market
conditions.

Loy Yang Power Chief Executive Ian Nethercote said ABN AMRO had
been appointed to review options for refinancing its debt
facilities prior to the end of the year.

"We understand there is significant liquidity and capacity in
the project finance market at present," said Mr. Nethercote.

"Combined with evidence of compression in loan margins as a
result of competition among financiers, together with other
favorable terms, it is expected that a refinance could deliver
additional value to the owners of Loy Yang Power.

"Loy Yang Power and its owners are encouraged by the present
market conditions and we believe it is timely to review our debt
package and identify opportunities to further enhance the
business position," Mr. Nethercote said.

Loy Yang Power operates a 2100 megawatt power station and
adjacent brown coal mine in Victoria's Latrobe Valley, 165
kilometres east of Melbourne.

Loy Yang Power was purchased by the Great Energy Alliance
Corporation Pty Ltd (GEAC) in April 2004. The GEAC shareholders
are The Australian Gas Light Company (32.5%), The Tokyo Electric
Power Company (32.5%), Commonwealth Bank Group (15.2%), Motor
Trades Association of Australia Superannuation Fund (10.3%),
Mitsui & Co (5.6%) and Westscheme (3.9%).

CONTACT:

Loy Yang Power
PO Box 1799
Traralgon
Victoria 3844
Australia
Telephone: +61 3 5173 2917
Facsimile: +61 3 5173 2038
E-mail: corp_rel@loyyangpower.com.au
Web site: http://www.loyyangpower.com.au/


MAYNE GROUP: To Appeal Australian Court Decision for Epirubicin
---------------------------------------------------------------
Mayne Group Limited advised that the Federal Court of Australia
(Victorian Division) has on Friday ruled that Mayne Pharma's
formulation of Epirubicin infringes a patent of the innovator-
Pharmacia Italia S.P.A. (a subsidiary of Pfizer, Inc.).

Mayne will consider appealing the ruling. In addition, Mayne is
challenging the validity of the extension of the Australian
patent which runs from June 2006 to June 2011.

Mayne Group Limited is listed on the Australian Stock Exchange
and has businesses in international specialty pharmaceuticals
(the manufacture of injectable and oral pharmaceuticals for
distribution to more than 50 countries), diagnostic services
(pathology, diagnostic imaging and medical centres), pharmacy,
and health-related consumer products.

CONTACT:

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


NEW ERA: Members to Hear Liquidator's Wind-up Report
----------------------------------------------------
Notice is given that a meeting of the members of New Era of
Networks (Australia) Pty Limited will be held on Aug. 12, 2005,
at the offices of Grant Thornton, Level 17, 383 Kent Street,
Sydney NSW for the purpose of having an account laid before them
showing the manner in which the winding up was conducted and the
property of the company disposed of, and of hearing any
explanations that may be given by the Liquidator.

Dated this 27th day of June 2005

Paul A. Billingham
Liquidator
Grant Thornton
Level 17, 383 Kent Street
Sydney NSW 2000


ORIDIN PTY: Inability to Pay Debts Prompts Wind-up Action
---------------------------------------------------------
Notice is hereby given that at a meeting of Oridin Pty Limited
held on June 30, 2005, the following Special Resolution was
passed:

That as it is unable to pay its debts as and when they fall due,
the Company be wound up Voluntarily, and that David Civil and
Robert Moodie be appointed Joint Liquidators for such winding
up.

David Civil
Robert Moodie
DANIEL CIVIL
Liquidators
c/o Rodgers Reidy
Level 8, 333 George Street
Sydney NSW 2000


PACIFICA GROUP: Swimming Up After Big Plunge
--------------------------------------------
Troubled automotive parts maker Pacifica Group expects improved
profits in 2006, after ramping up its business in Asia and as
new contracts come on line from the end of 2005, The Australian
reports.

Pacifica, which makes brakes and clutches under the PBR brand
for General Motors, Ford, Toyota and Mitsubishi, today reported
a 65 per cent fall in first-half net profit to AU$7.26 million,
after exceptional items.

Revenue for the half year ended June 30 was AU$398.7 million,
down 14.3 percent.

But Pacifica managing director John MacKenzie said the period
represented a trough in the company's earnings, and more
respectable profitability would be returned in the medium term.
Pacifica's shares soared 43c, or 20.09 percent, to AU$2.57
yesterday.

CMC Markets analyst David Land said Pacifica's result was
nothing extraordinary but investors were backing the company's
outlook.

Pacifica said despite the significant profit fall, the result
was in line with expectations.

"It leaves Pacifica on track to achieve a full-year net profit
after tax, before exceptional items, within the AU$20-25 million
full year guidance range provided on April 21," it said.

Exceptional items for the 2005 calendar year are expected to
amount to about AU$7 million.

Pacifica said net profit before exceptional items in the 2006
calendar year should be AU$35-AU$40 million, compared with
previous guidance of AU$30-40 million.

Pacifica has seen its earnings fall as a result of lower demand
for vehicles in the key North American market, higher steel
costs and adverse currency exchange rates.

The company has consequently moved manufacturing for export
markets to lower-cost regions such as China and Thailand.

Pacifica managing director John MacKenzie said that in 2006,
automotive manufacturers would be introducing new model ranges
in most of Pacifica's major markets, for which it had secured
supply contracts.

Pacifica's margins would benefit from an improved cost base
resulting from the company's expanded manufacturing in Asia and
from contracted higher sales volumes.

A machining, plating and sub-assembly facility in China started
production in July and an adjoining iron foundry was on target
for completion in mid-2006.

The company had won business with Shanghai GM for the supply of
calipers, rotors and park brakes starting in the second half of
2006, with an annual sales base of about AU$20 million.

The first half had been a challenge for PBR Australia after
manufacturing facilities at East Bentleigh in Victoria were
restructured and some business relocated to Asia.

Mr. MacKenzie said that despite the troubles affecting car
component makers in Australia recently, he was "reasonably
confident" of the sector's ability to survive.

"We've picked up a lot of new business here in Australia, so our
investment in the local industry has actually increased," he
said.

"It's only export business that is subject to exchange rate
fluctuations, and it's really that variability that we're trying
to mitigate."

The company declared a partly franked interim dividend of four
cents, down from a partly franked 10.5 cents in the prior
corresponding period.

CONTACT:

Pacifica Group Limited
264 East Boundary Road
East Bentleigh, Victoria 3165
AUSTRALIA
Phone: +61 3 9575 2222
Fax: +61 3 9575 2411
Web site: http://www.pacifica.com.au


PROJECT DYNAMICS: To Hold Final Meeting on Aug. 12
--------------------------------------------------
Notice is hereby given that a final meeting of members of
Project Dynamics Australia Pty Limited will be held on Aug. 12,
2005 at A9/4 Central Avenue, Thornleigh NSW.

The meeting is convened to receive the Liquidator's final report
on the winding up of the Company.

Dated this 29th day of June 2005

Malcolm Fraser Anderson
Liquidator
Isis Partners Pty Limited
A9/4 Central Avenue
Thornleigh NSW 2120
Phone: (02) 9875 4955


PS LLOYD: Liquidator to Distribute Company Assets Soon
------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of PS Lloyd Investments Pty Limited held on June
29, 2005, the following special and ordinary resolutions were
passed:

That the company be wound up as a members' voluntary
liquidation, and that its assets be distributed in whole or in
part to the members in specie, should the Liquidator so
Desire; and

That Grahame Hill be appointed Liquidator of the Company.

Dated this 30th day of June 2005

Grahame Hill
Liquidator
c/o Hills Insolvency Services Pty Ltd
PO Box 915, Rockdale NSW 2216
Phone: (02) 9599 7945
Fax:   (02) 9599 7946


SANTOS LIMITED: Takes Exploration Position in Central Asia
----------------------------------------------------------
Santos Limited has progressed its growth strategy with the
announcement Friday of the Group's first exploration venture in
central Asia.

Santos subsidiary, Santos International Operations Pty Ltd, has
entered into a conditional letter agreement with ASX listed
Caspian Oil and Gas Limited (Caspian) to execute a phased farm-
in under which Santos will earn an 80 percent operated working
interest in 10 exploration licenses in the Kyrgyz Republic in
central Asia.

In addition, subject to Caspian shareholder approval, Santos
will take a 15 percent direct equity placement in Caspian at an
issue price of 3 cents per share at a total cost of AU$3
million. Santos will also be granted an option to acquire a
further 40 million shares representing approximately 4.9 percent
of Caspian's issued share capital.

The above transactions are subject to further due diligence to
Santos' satisfaction, agreement of final documentation and any
necessary Kyrgyz and other approvals.

Under the terms of the letter agreement, Santos will sole fund
and operate a phased work program over all of the licenses over
a period of approximately 4 years during which it will earn the
working interests.

"This is another significant step for Santos as it provides a
measured entry into an area which we believe is highly
prospective for oil and gas," Santos Managing Director, Mr. John
Ellice-Flint, said.

"Central Asia is generally an under-explored hydrocarbon
province and this agreement gives Santos significant option
value through becoming the dominant upstream operator in
Kyrgyzstan," he said.

"Caspian has been successful in acquiring these interests over
the last 3 years, and we look forward to working with them, both
as a co-venturer, and also as one of their major shareholders."

This move is in line with Santos' strategy of diversifying its
exploration program through a focus on understanding the geology
and tying up material exploration positions in prospective
hydrocarbon basins.

The 10 exploration licenses cover 16,500 square kilometers,
largely in the Fergana Basin. The Basin, which extends across
parts of Kyrgyzstan and into Uzbekistan and Tajikistan is, in
part, analogous to the prolific hydrocarbon province of the
Tarim and Junggar Basins in western China, which contain many
large fields.

The exploration licenses in Kyrgyzstan contain a number of
attractive exploration opportunities.

The total discovered reserves from 58 fields in the Fergana
Basin are estimated to be in excess of 1.2 billion barrels of
oil and 5.5 TCF of gas, with cumulative production to date of
more than 600 million barrels.

CONTACT:

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


SANTOS LIMITED: Unit to Farm Into Kyrgyz Oil Interests
------------------------------------------------------
Caspian Oil & Gas Limited announced that it has entered into a
letter agreement with Santos International Operations Pty Ltd
(Santos), a wholly owned subsidiary of Santos Limited, a major
Australian oil and gas exploration and production company to:

(1) Farm out and joi9nt venture its oil projects in the Kyrgyz
Republic; and

(2) Issue 100 million fully paid ordinary shares at an issue
price of 3 cents per share to raise AU$3 million.

The above transactions are subject to further diligence to
Santos' satisfaction, agreement of final documentation and any
necessary Kyrgyz Government and other approvals.

Key terms of the agreement require Santos to:

(1) Sole fund, manage and operate staged work programs up to the
value of US$28 million over all of the licenses to earn an 80%
interest in those projects over a period of approximately four
years; and

(2) Pay a cash consideration of US$1 million for use of the
technical database relating to the Kyrgyz operations.

The Kyrgyz oil projects covering approximately 16,500 sq. km.
are currently owned 100% by Caspian subsidiary JSC Textonic.
With the exception of the Aksai prospecting license, they are
situated in the Fergana Basin, an established oil producing
region with a production history dating back over a century.

The introduction of Santos, with its financial strenght and
technical expertise, will be a major catalyst for the fast
tracking of the exploration and development of the Kyrgyz oil
projects.

The details of farm-in arrangements under the letter agreement
shall be made available free of charge at:
http://bankrupt.com/misc/tcrap_santoslimited050805.pdf.


SKEP PTY: Liquidator to Explain Wind Up to Members
--------------------------------------------------
Notice is hereby given that a final meeting of members of SKEP
Pty Limited will be held on Aug. 12, 2005 at A9/4 Central
Avenue, Thornleigh NSW.

The meeting is convened to receive the Liquidator's final report
on the winding up of the company.

Dated this 29th day of June 2005

Malcolm Fraser Anderson
Liquidator
Isis Partners Pty Limited
A9/4 Central Avenue, Thornleigh NSW 2120
Phone: (02) 9875 4955


SOLARIS HOLDINGS: Members Choose to Wind Up
-------------------------------------------
At an Extraordinary General Meeting of Members of Solaris
Holdings Pty Limited duly convened and held on June 30, 2005, it
was resolved that the company be wound up by Members' Voluntary
Liquidation, and that Tibor Louis Varnay of 7/131 York Street,
Sydney NSW be appointed Liquidator of the Company with power to
destroy all books and papers after five years of its date of
dissolution.

Dated this 30th day of June 2005

Tibor Louis Varnay
Liquidator
7/31 York Street
Sydney NSW


SPORTSGO PTY: Court Orders Liquidation
--------------------------------------
On June 28, 2005, the Supreme Court of New South Wales, Equity
Division ordered the winding up of Sportsgo Pty Limited, and
appointed Steven Nicols to be Liquidator of the Company for such
purpose.

Steven Nicols
Level 2, 350 Kent Street
Sydney NSW 2000


TOUKAY INVESTMENTS: Members Decide to Close Operations
------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Toukay Investments Pty Limited held on July 1, 2005, it was
resolved that the Company be wound up voluntarily and that for
such purpose, Michael Edward Slaven, Chartered Accountant of
Rangott Slaven Hundy, Unit 12, Level 3 Engineering House, 11
National Circuit, Barton ACT, be appointed the Company's
Liquidator.

Dated this 12th day of July 2005

Michael E. Slven
Rangott Slaven Hundy
Unit 12, Level 3 Engineering House
11 National Circuit
Barton ACT


XANADU WINES: Shareholders OK Sale of Business, Name Change
-----------------------------------------------------------
Xanadu Wines Limited advised pursuant to Listing Rule 3.13.2
that both resolutions presented at the General Meeting of
shareholders held Friday, August 5, 2005 have been passed.

In accordance with section 251AA of the Corporations Act 2001,
the Company announced the following proxy results for each
resolution:

Resolution     For         Against    Abstain  Discretionary

Sale of the
Xanadu Wines  99,995,386   1,432,114    0      2,643,952
Business

Change of
the           99,659,895   1,752,605   15,000  2,643,952
Company's Name

CONTACT:

Xanadu Wines
Boodjidup Road, Margaret River
West Australia 6285
Phone: (61) 8 9757 2581
Fax: (61) 8 9757 3389


* Delisted Issues Annual Failed Companies List
----------------------------------------------
The attachment features most of the listed companies that have
failed over the past three years. It is issued on an annual
basis to assist shareholders in best arranging their portfolios
to minimize their tax bill.

The "A" List shows companies where an external administrator has
issued a declaration that there will be no return to
shareholders. The capital loss can therefore be claimed for tax
purposes. To substantiate their claim, shareholders can download
these declarations for free at http://www.delisted.com.au.

The "B" List shows companies where a declaration has not been
issued. Although most of the companies are in external
administration, a capital loss can be crystallized by the
creation of a trust to hold securities, pending registration of
the transfer. Many shareholders in these companies are unaware
that they can claim this loss.

A copy of the Failed Companies 2004/05 is available for
downloading free of charge at:
http://bankrupt.com/misc/tcrap_delisted050805.pdf.


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

BANK OF CHINA: British Bank Eyes 10% Stake
------------------------------------------
Royal Bank of Scotland Group Plc (RBS) will make an announcement
this week on whether or not it will acquire a 10-percent stake
in Bank of China (BOC) for US$2.5 billion, China Daily reports.

The long-awaited investment by RBS would end a search by BOC for
overseas partners that have lasted for more than a year. BOC is
widely expected to float shares next year and add other
investors than RBS.

China has infused US$60 billion into BOC, China Construction
Bank and Industrial & Commercial Bank of China and encouraged
them to find strategic investors to help improve operating
standards and risk controls.

CONTACT:

Bank of China
1 Fuxingmen Nei Dajie
Beijing, 100818, China
Phone: +86-10-6659-6688
Fax: +86-10-6601-4024
Web site: http://www.bank-of-china.com


BEST FUNDS: Creditors Meeting Set August 29
-------------------------------------------
Notice is hereby given that a meeting of the respective
creditors of Best Funds Investment Limited will be held at Unit
1602-3, 16th Floor, Yue Xiu Building, 160-174 Lockhart Road,
Wanchai, Hong Kong on August 29, 2005 at 10:15 a.m. and 10:45
a.m. respectively for the purposes provided for in Sections 241,
242, 243, 244, 255A and 283 of the Companies Ordinance.

Creditors may vote either in person or by proxy.  Forms of proxy
to be used at the meeting may be obtained from the above-
mentioned address and must be lodged at the said address not
later than 4:00 p.m. on the day before the meeting or adjourned
meeting at which they are to be used.

Dated this 5th day of August 2005


CHINA SPECIAL: Director You Jinzhou Resigns
-------------------------------------------
The board of directors of China Special Steel Holdings Company
Limited announced that Mr. You Jinzhou has resigned from his
post as executive director of the Company with effect from 2
August 2005 due to personal reasons.

Mr. You Jinzhou has confirmed that there is no disagreement with
the Board and there is no matter relating to his resignation
that needs to be brought to the attention of the shareholders of
the Company.

The Board takes this opportunity to acknowledge the
contributions of Mr. You Jinzhou to the Company, with the
highest regard and deepest gratitude.

By Order of the Board of
China Special Steel Holdings Company Limited
Dong Shutong
Chairman
Hong Kong, 5 August 2005

CONTACT:

China Special Steel Holdings Company Limited
Room 3504, 35th Floor China Merchants Tower
Shun Tak Centre 168
V200 Connaught Road
Central Hong Kong
Web site: http://www.ytss.cn


GUANGDONG KELON: Shenzhen Court Freezes Asset
---------------------------------------------
Guangdong Kelon Electrical Holdings Company Limited has on
August 3, 2005 been informed by the China Securities
Registration Clearing Company Limited, Shenzhen Branch that the
interest of the Company's single largest shareholder of
Guangdong Greencool Enterprise Development Company Limited
(Guangdong Greencool) in 262,212,194 promoter shares (Promoter
Shares) in the Company representing approximately 26.43% of the
total issued shares capital of the Company, has been frozen by
the Intermediate People's Court of the Shenzhen City from 28th
July, 2005 to 27th July, 2006.

As far as the directors of the Company are aware, Mr. Gu Chu Jun
directly owns 60% of Guangdong Greencool.

The Company notes certain press articles that appeared in
newspapers in Hong Kong and the People's Republic of China (the
PRC) on Friday stating that the CSRC has announced the results
of its investigation into the Company and found that Mr. Gu has
violated the securities laws of the PRC by inflating the
Company's profits and embezzling the Company's funds. As at the
date hereof, no written report on the results of such
investigation has been issued to the Company. As such, the
Company considers that it is inappropriate for it to publicly
comment on this matter at this stage.

This announcement will be published in China Securities Journal,
Securities Times, Hong Kong Commercial Daily and China Daily on
August 5, 2005. Investors should treat the disclosure in this
announcement as accurate.

At the request of the Company, trading in shares of the Company
was suspended with effect from 10:00 a.m. on 16th June, 2005
pending the release of an announcement in relation to price
sensitive information.

Subject to the publication of an announcement in relation to the
financial, production and trading position of the Group, trading
in shares of the Company will remain suspended until further
notice.

By order of the Board of
Guangdong Kelon Electrical Holdings Company Limited
Liu Cong Meng
Vice Chairman

CONTACT:

Guangdong Kelon Electrical Holdings Company Limited
2502-2505 Harbour Center
25 Harbour Road
Wanchai, Hong Kong
Phone: 25110363
Fax: 28023434
Web site: http://www.kelon.com


ISTEELASIA HOLDINGS: Notes Increase in Trading Volume
-----------------------------------------------------
iSteelAsia Holdings Limited have noted the increase in price and
increase in trading volume of the shares of iSteelAsia Holdings
Limited and wish to state that we are not aware of any reasons
for such increase.

Save as disclosed in the announcement dated 19th May 2005, we
also confirm that there are no negotiations or agreements
relating to intended acquisitions or realizations which are
discloseable under Chapters 19 and 20 of the GEM Listing Rules,
neither is the board of Directors aware of any matter
discloseable under the general obligation imposed by rule 17.10
of the GEM Listing Rules, which is or may be of a price-
sensitive nature.

Made by the order of the Board, the Directors of which
collectively and individually accept responsibility for the
accuracy of this announcement.

By Order of the Board

iSteelAsia Holdings Limited
Desmond Hay Ching Fu
Director and Chief Executive Officer
Hong Kong, 4th August 2005


JANWORLD INDUSTRIAL: Winding Up Hearing Slated for September 28
---------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Janworld Industrial Limited by the High Court of Hong Kong
Special Administrative Region was on July 21, 2005 presented to
the said Court by Bank of China (Hong Kong) Limited (the
successor banking corporation to Kincheng Banking Corporation
pursuant to Bank of China (Hong Kong) Limited (Merger) Ordinance
(Cap.1167) whose registered office is situated at 14th Floor,
Bank of China Tower, 1 Garden Road, Hong Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on September 28, 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. T. H. KOO & ASSOCIATES
Solicitors for the Petitioner
Room A2, 15th Floor, United Centre
No. 95 Queensway
Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the abovenamed, notice
in writing of his intention so to do.  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 September 27, 2005.


JUN CHENG: Falls Into Liquidation
---------------------------------
Jun Cheng Group Company Limited whose place of business is
located at 22nd Floor, Effectual Building, 16 Hennessy Road,
Wanchai, Hong Kong was issued a winding up order notice by the
High Court of the Hong Kong Special Administrative Region Court
of First Instance on July 20, 2005.

Date of Presentation: May 27, 2005

Dated this 29nd day of July 2005

ET O'Connell
Official Receiver


MOULIN GLOBAL: Willie International Eyes Takeover
-------------------------------------------------
Willie International Holdings Limited (0273) announced that it
has submitted a formal takeover proposal to the provisional
liquidators of Moulin Global Eyecare (0389) on July 28, but no
further details were disclosed.

Trading in the shares of Willie International is resumed on
August 5. Shares of Willie closed at $0.197 before the
suspension took place.

CONTACT:

Moulin Global Eyecare Holdings Limited
4/F, Kenning Industrial Building
19 Wang Hoi Road, Kowloon Bay
Kowloon, H.K.
Phone: 27073800
Fax: 21487272
Web site: http://www.moulin.com.hk


MULTILINK DEVELOPMENT: Begins Winding Up Process
------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Multilink (HK) Development Limited by the High Court of Hong
Kong Special Administrative Region was on July 14, 2005
presented to the said Court by Bank of China (Hong Kong) Limited
(the successor banking corporation to Kincheng Banking
Corporation pursuant to Bank of China (Hong Kong) Limited
(Merger) Ordinance (Cap.1167) whose registered office is
situated at 14th Floor, Bank of China Tower, 1 Garden Road, Hong
Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on September 21, 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. T. H. KOO & ASSOCIATES
Solicitors for the Petitioner
Room A2, 15th Floor, United Centre
No. 95 Queensway
Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the 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 September 20, 2005.


PLUS HOLDINGS: Delays FY/2005 Financial Results
-----------------------------------------------
The board of directors of Plus Holdings Limited announces that
the release and publication of its final results for the year
ended March 31, 2005 and the dispatch of the annual report will
be delayed since the Company has just secured funding from the
directors to start the audit work.

Since the books and records and other inventory figures of
Beijing Holly Bridge System Integration Co., Ltd., a major
subsidiary of the Company, have to be obtained, the Company is
unable to finalize its audited final results for the year ended
March 31, 2005 and to release and publish the same on or before
July 31, 2005.

The delay in publication of annual results and dispatch of
annual report does not constitute a breach of the Bye-laws of
the Company and the laws of Bermuda, the relevant jurisdiction
in which the Company is incorporated.

The directors of the Company acknowledge that the delay
constitutes a breach of Rules 13.46(2)(a), 13.49(1) and
13.49(3)(i)(c) of the Listing Rules and that the Stock Exchange
reserves its rights to take appropriate actions against the
Company and/or its directors in respect of the breach.

The Board envisages that the Company will be in a position to
publish the annual results and dispatch the annual report as
soon as reasonably practicable after the completion of the
audit, which is expected to be on or before 17 October 2005 and
24 October 2005 respectively. The afore-mentioned dates are
agreed with the auditors. Further announcement will be made if
the annual results and annual report cannot be published and
dispatched on or before 17 October 2005 and 24 October 2005
respectively.

Trading remains suspended pending publication of an announcement
relating to price sensitive information about the negotiations
of specific settlement terms of the outstanding liabilities with
the creditors, participation of strategic business partners and
acquisition of investment projects.

Plus Holdings posted a net loss of HK$2.08 million in the year
ended March 31, 2004, versus a net loss of HK$6.96 million a
year earlier, according to Chong Hing Securities.


SERENDIPITY LIMITED: Court to Hear Wind-up Petition Next Month
--------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Serendipity (H.K.) Limited by the High Court of Hong Kong
Special Administrative Region was on July 29, 2005 presented to
the said Court by Lai Chi Shing trading as Cameo Development
Company of Suite F, 5th Floor, West Gate Tower, 7 Wing Hong
Street, Cheung Sha Wan, Kowloon, Hong Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on September 28, 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.

Y. F. WONG & CO., Solicitors
Solicitors for the Petitioner
Unit B, 25th Floor
Yam Tze Commercial Building
23 Thomson Road, Wanchai
Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the 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 September 27, 2005.


SHUN QUN: Schedules Winding-up Hearing September 28
---------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Shun Qun Industrial Company Limited by the High Court of Hong
Kong Special Administrative Region was on July 21, 2005
presented to the said Court by Bank of China (Hong Kong) Limited
(the successor banking corporation to Kincheng Banking
Corporation pursuant to Bank of China (Hong Kong) Limited
(Merger) Ordinance (Cap.1167) whose registered office is
situated at 14th Floor, Bank of China Tower, 1 Garden Road, Hong
Kong.

The said Petition is to be heard before the Court at 9:30 a.m.
on September 28, 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. T. H. KOO & ASSOCIATES
Solicitors for the Petitioner
Room A2, 15th Floor, United Centre
No. 95 Queensway
Hong Kong

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the 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 September 27, 2005.


VICTORY GROUP: Notes Unusual Price, Volume Movements
----------------------------------------------------
The Stock Exchange of Hong Kong has received a message from
Victory Group Limited, which is reproduced as follows:

"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

The Company has noted the recent increases in the price and the
trading volume of the shares of the Company and wishes to state
that it is not aware of any reasons for such increases.

It also confirm that there are no negotiations or agreements
relating to intended acquisitions or realizations which are
discloseable under Rule 13.23 of the Listing Rules, neither is
the Board aware of any matter discloseable under the general
obligation imposed by Rule 13.09 of the Listing Rules, which is
or may be of a price-sensitive nature.

Made by the order of the Board of the Company, the directors of
which individually and jointly accept responsibility for the
accuracy of this statement.

As at the date of this announcement, the Board comprises of Mr.
Chan Chun Choi, Ms. Lu Su Hua, both of whom are executive
directors, Mr. Ng Chi Shing, Mr. Yuen Kwok Wah, Bernard, and Mr.
Lam Williamson, who are independent non-executive directors.

For and on behalf of the Board of
Victory Group Limited
Chan Chun Choi
Director
4 August 2005"

CONTACT:

Victory Group Limited
Suite 1609, New East Ocean Centre
9 Science Museum Road
Tsimshatsui East,
Kowloon, Hong Kong
Phone: 27213823
Fax: 27216565
Web site: http://www.victorygroup.com.hk


WINNER WAYS: Schedules Creditors' Meeting August 29
---------------------------------------------------
Notice is hereby given that a meeting of the respective
creditors of Winner Ways Limited will be held at Unit 1602-3,
16th Floor, Yue Xiu Building, 160-174 Lockhart Road, Wanchai,
Hong Kong on August 29, 2005 at 10:15 a.m. and 10:45 a.m.
respectively for the purposes provided for in Sections 241, 242,
243, 244, 255A and 283 of the Companies Ordinance.

Creditors may vote either in person or by proxy.  Forms of proxy
to be used at the meeting may be obtained from the above-
mentioned address and must be lodged at the said address not
later than 4:00 p.m. on the day before the meeting or adjourned
meeting at which they are to be used.

Dated this 5th day of August 2005


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

BANK MANDIRI: Allots IDR291.88 Bln to Expand IT Facilities
----------------------------------------------------------
State-owned PT Bank Mandiri has set aside IDR291.88 billion to
expand its Information Technology (IT) facilities, reports the
Jakarta Post.

According to the bank's chief IT officer, Andreas Susetyo, most
of the funds would go to the installation of 120 new automated
teller machines, and installing an IT system in the bank's new
branches.

Bank Mandiri, which currently has 829 branches and around 2,730
ATMS, plans to put up 120 new branches nationwide within the
year in order to increase distribution and service chains.

The bank has undergone many changes, including a change in
management, after a recent lending scam led to the arrest of its
president director and two other top officials.

It is currently implementing an "internal consolidation" program
in order to improve performance and lower its non-performing
ratio level.

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


DANAREKSA SEKURITAS: Writes Off Bad Debts, Boosts Provisions
------------------------------------------------------------
Indonesian securities firm PT Danareksa Sekuritas wrote off bad
debts that were owed by several companies and has increased its
provisions for non-performing loans to IDR248.9 billion, Asia
Pulse reports.

This caused an IDR198.2 billion loss in the Company during the
first six months of 2005. New Danareksa president Lin Che Wei
said, however, that they would continue to demand repayment from
debtors.

In the Company's 2004 financial statement, it stated receivables
from five companies amounting to a total of IDR860 billion.

Mr. Lin added that the Company has formed whose task would be to
go after its debtors to demand repayment, and the Company would
also confiscate collateral for the debts. As to its impending
IDR107.08 billion debt repayment due in February 2006, he said
that the Company would be able to meet its obligation, and the
increase in its provisions for bad loans wouldn't affect its
cash flow.

CONTACT:

PT Danareksa Sekuritas
Gedung Danareksa
Jl Medan Merdeka Selatan no. 14
Jakarta 10110, Indonesia
Phone: (+62-21)-3509-777
       (+62-21)-3509-778
Fax:   (+62-21)-3509-778


GARUDA INDONESIA: Looks to Reschedule Debt Due to Bad Business
--------------------------------------------------------------
National airline PT Garuda Indonesia is set to conduct a study
on the possibility of rescheduling its debt to third parties
this year, as the Company has suffered from rising global oil
prices and is not doing so well financially, reports Antara
News.

Garuda president Emirsyah Satar said that the Company has
assigned a financial advisor who is making a business plan that
it can follow with regard to its debts. He did not say, however,
whether Garuda Indonesia would reschedule all or only part of
its debt.

The Company has to repay debt of IDR1.12 trillion on an annual
basis, and Mr. Satar expressed hopes that creditors would
understand that increasing fuel prices have caused hard times
and losses for the airline.

Mr. Satar added that the Company has yet to inform creditors
about the possibility of rescheduling its debts.

Garuda Indonesia posted a net loss of IDR861 billion in 2004,
and its operating net loss for January to March 2005 was IDR139
billion. The airline also has an outstanding IDR8.07 trillion
debt.

CONTACT:

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


PERTAMINA: Shuts Down Cilapan Refinery Unit for Maintenance
-----------------------------------------------------------
State oil and gas firm PT Pertamina is set to shut down a unit
at one of the Company's two refineries in Cilacapan next month
for maintenance, Dow Jones reports.

Pertamina processing director Suroso Atmomartoyo said that the
unit, which produces 230,000 barrels per day, will be shut down
for 22 days beginning Sept. 12, 2005, for maintenance reasons.

According to Mr. Atmomartoyo, Pertamina plans to import oil from
the Middle East and the spot market, in order to compensate for
the reduced production due to the unit's temporary shutdown.

The Indonesian government had recently allowed Pertamina to
raise its fuel prices to that of the market, in order to ease an
already strained fuel subsidy; the Company has raised its prices
for oil and gas firms, marine diesel fuel, mining firms and
companies that consume more than 500 kiloliters per month. The
Company has also stressed the need to lessen the use of oil/ be
more efficient in consuming fuel, as fuel supply has not been
able to meet growing demand in the last two years.

CONTACT:

PT Pertamina Tbk
Jalan Merdeka, Timur No. 1 A
Jakarta 10110
Indonesia
Phone: (62)(21) 3815111
Fax:   3846865/ 3843882
Web site: http://www.pertamina.com


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

HITACHI LIMITED: Scraps Air Conditioning Joint Venture Deal
-----------------------------------------------------------
Mitsubishi Heavy Industries, Ltd. (TSE: 7011 / MHI), Hitachi,
Ltd. (NYSE: HIT / TSE: 6501 / Hitachi) and Hitachi Air
Conditioning Systems Co., Ltd., a Hitachi subsidiary, announced
that they have now agreed to cancel their previously announced
basic agreement and to pursue multifaceted collaboration in
those areas.

In June 2004, Hitachi, MHI and Hitachi Air Conditioning Systems
reached a basic agreement that called for the integration of
MHI's Air-Conditioning & Refrigeration Systems Headquarters
(excluding automobile thermal systems) and Hitachi Air
Conditioning Systems as a new joint venture to be owned and
operated jointly by Hitachi and MHI. Since then, the companies
have actively concentrated on preparations toward the
establishment of the JV firm.

In the process, however, they determined that more time is
required to work out optimal arrangements with respect to global
venture coordination and sales network integration. Ultimately
they concluded that rather than a full-scale tie-up, it would be
more effective and efficient to establish collaborative
relationships in specific areas of business.

Based on that conclusion, MHI and Hitachi have now decided to
cancel their basic agreement on the planned joint venture, and
in its place they newly agreed to create a framework for
multifaceted collaboration centered on commercial-use air-
conditioning systems. Cooperation will encompass development,
procurement, OEM supply, and related servicing.

The specific scope of collaboration in each area will be as
follows:

1. Development

Initially, MHI and Hitachi Air Conditioning Systems will pursue
joint development of indoor units of packaged air-conditioning
systems. They will also study further collaboration expanded to
main components, including outdoor units, aiming toward a
broader model lineup. Collaboration will target reductions in
both development costs and development time.

2. Procurement

Hitachi Air Conditioning Systems and MHI will collectively
purchase materials and parts they use in common, as a means
toward achieving enhancements in both product quality and cost
competitiveness. In the future, they will expand their
collaborative activities in this area to include development of
new suppliers both in Japan and abroad.

3. OEM Supply

MHI and Hitachi Air Conditioning Systems have already been in
an OEM supply relationship for certain models. Going forward,
the two companies will reinforce their respective product
lineups further through expanded reliance on mutual OEM
provisions. More expansive offerings will enable both companies
to respond more precisely to the market's changing needs and
diversifying customer demand, thus enabling them to attract more
orders while reducing development outlays.

4. Related Servicing

Through mutual utilization of their service outlets, Hitachi
Air Conditioning Systems and MHI will be able to provide
services more quickly, thereby leading to enhanced customer
satisfaction.

In addition, MHI and Hitachi Air Conditioning Systems will study
the feasibility of collaborating in other areas: for example,
energy-saving systems for convenience stores and other chain
type enterprises, Hitachi Air Conditioning Systems' chiller
business and MHI's transport refrigeration systems.

For the future, Hitachi Air Conditioning Systems and MHI will
pursue stronger alliances and further expansion of their
collaborative relationships, targeting mutual business expansion
in a win-win situation.

PROFILES OF EACH COMPANY

ABOUT MITSUBISHI HEAVY INDUSTRIES

Company name: Mitsubishi Heavy Industries, Ltd.
Business: Manufacture and sales related to shipbuilding; steel
structures; power plants; chemical plants; steel plants;
environmental equipment; industrial and general machinery;
aircraft; space rocketry; air-conditioning systems; and others
President: Kazuo Tsukuda, President
Capital: 265.6 billion Yen
Head office location: Tokyo, Japan
Number of employees (consolidated): 59,240 (As of March 31,
2005)
Consolidated net sales: 2,590.7 billion Yen (Year ended March
31, 2005)

ABOUT HITACHI

Company name: Hitachi, Ltd.
Business: Development, manufacture, sales and services for
information and communications systems, electronic devices,
power and industrial systems, digital media and consumer
products
President: Etsuhiko Shoyama, President and Chief Executive
Officer
Capital stock: 282.0 billion Yen (As of March 31, 2005)
Head office location: Tokyo, Japan
Number of employees (consolidated): 347,424 (As of March 31,
2005)
Consolidated net sales: 9,027.0 billion Yen (Year ended March
31, 2005)

ABOUT HITACHI AIR CONDITIONING SYSTEMS

Company name: Hitachi Air Conditioning Systems Co., Ltd.
Business: Manufacture, sales, construction and after sales
service for air-conditioning control systems and freezing and
refrigeration control systems (main products are packaged air-
conditioning systems, small chillers and large centrifugal
chillers)
President: Takazumi Ishizu, President and Director
Capital stock: 10.0 billion Yen (100% owned by Hitachi, Ltd.)
Head office location: Tokyo, Japan
Main factories: Shizuoka, Japan; Ibaraki, Japan; China; Spain;
and Brazil
Number of employees (consolidated): 5, 820 (As of March 31,
2005)
Consolidated net sales: 162.5 billion Yen (Year ended March 31,
2005)

CONTACT:

Hitachi Limited
6-6 Marunouchi 1-Chome
Chiyoda-Ku 100-8280, Tokyo 101-8010
Japan
Phone: +81 3 3258 1111
Fax: +81 3 3258 5480


MARUZEN COMPANY: METI OKs Restructuring Plan
--------------------------------------------
The Ministry of Economy Trade and Industry (METI) has approved
the business restructuring plan of Maruzen Company Ltd. under
the Law on Special Measures for Industrial Revitalization.

The restructuring scheme was approved on August 3, 2005.

CONTACT:

Maruzen Co. Ltd.
3-10 Nihonbashi 2-Chome
Chuo-Ku 103-8245, Tokyo 103-8245
Japan
Phone: +81 3 3272 7211
Fax: +81 3 3272 7265


OLYMPUS CORPORATION: Strengthens Business Alliance With Terumo
--------------------------------------------------------------
Olympus Corporation and Terumo Corporation will strengthen their
business tie-up in a bid to boost their competitive edge in the
global medical instrument market, Kyodo News reports.

To improve their business alliance, the companies will form a
capital partnership through exchange of shares.

Olympus will allocate 6,811,000 shares to Terumo through third-
party allocation, while Terumo will allocate 4,715,400 shares to
Olympus from its treasury stock.

CONTACT:

Olympus Corporation
Monolith, 3-1 Nishi-Shinjuku,
2-chome, Shinjuku-ku
Tokyo 163-0914, Japan
Phone: +81-3-3340-2111
Fax: +81-3-3340-2062


SONY CORPORATION: S&P Mulls Downgrades for Subsidiaries
-------------------------------------------------------
Standard & Poor's Ratings Services placed its 'A' long-term and
'A-1' short-term corporate credit ratings on Sony Corp., its
'A+' long-term counterparty and financial strength ratings on
Sony Life Insurance Co. Ltd., its 'A-' long-term counterparty
rating on Sony Bank Inc., and its ratings on two overseas
financial subsidiaries on CreditWatch with negative
implications. The 'A-2' short-term counterparty rating on Sony
Bank was affirmed.

The CreditWatch listing follows Sony's downward revision of its
profit forecast for fiscal 2005 (ending March 31, 2006).

On July 28, Sony cut its profit forecast for fiscal 2005 because
of the poor performance of its key TV business. The number of
TVs sold will likely fall below Sony's original forecast while a
drop in prices has been considerably larger than expected.

"In our view, it was critical for Sony to revitalize its digital
products business in a prompt manner, including its TV segment,
to achieve a recovery in profit," Standard & Poor's credit
analyst Fusako Nagao said.

"Sony's results and forecast revision underline the lag between
it and Sharp and Matsushita in the product development and cost
structure of flat panel televisions. Depending on progress in
cost cutting and enhancement of its product development
capability, Sony may suffer prolonged stagnancy in profit," Ms.
Nagao added.

Sony expects its TV business to be profitable in the second half
of fiscal 2006, with improvements starting in the second half of
fiscal 2005 through increasing the self-manufacturing ratio of
LCD panels and marketing low-cost models globally. However,
given accelerating innovation and intensifying competition
between flat panel, liquid crystal, plasma display
TVs, a recovery could be delayed if prices drop by a larger
amount than currently expected or if sales continue to be
pressured amid severe competition. It is still unclear if Sony
can establish a strong position and sound profit structure in
the liquid crystal TV market as it did in the cathode ray tube
TV market.

Sony now expects consolidated operating income for fiscal 2005
to be JPY30 billion, JPY130 billion lower than its original
forecast (operating income for fiscal 2004 was JPY113.9
billion). The company expects consolidated operating income will
also drop considerably after excluding one-off profits, the
transfer of a substitutional amount of its pension funds to the
government, and restructuring costs, falling to �58 billion,
down by JPY114 billion from Sony's forecast at the beginning of
fiscal 2005, and down from the JPY203.9 billion recorded in
fiscal 2004.

Key issues for the rating on Sony are its:

Specific strategy to recover competitiveness and market
position in its electronics business, particularly the
strategically important audio-visual products segment;

Implementation of a system to maintain cost reductions to cover
price declines;

The impact of future profit performance and additional
restructuring costs and investments on its financial profile;

A strategy to achieve profitability and create value-added
products and services by maximizing usage of the company's
skills in entertainment businesses, such as movies, music, and
computer games; and

Positioning the financial service businesses within the group.

Specific measures to address these issues are expected in the
new business plan Sony aims to release in late September 2005.
However, if Sony's competitiveness deteriorates further or it
becomes apparent that its financial profile will deteriorate
substantially more than the company currently expects the
ratings could be lowered ahead of the company's announcement.

There have been no substantial changes in the unconsolidated
financial profiles of Sony Life Insurance and Sony Bank,
subsidiaries of Sony Financial Holdings, which is wholly owned
by Sony Corp. In principle, the ratings on these companies will
be assessed alongside the ratings on Sony, after verifying their
positions within the group and the impact of Sony's strategy on
the companies' earnings and financial profile.

Ratings Placed On CreditWatch Negative

Sony Corp.
  Corporate credit rating        A/Watch Neg/A-1
Sony Capital Corp.
  Corporate credit rating        A/Watch Neg/A-1
Sony Global Treasury Services PLC
  Corporate credit rating        A/Watch Neg/A-1
Sony Life Insurance Co. Ltd.
  Counterparty credit rating     A+/Watch Neg/--
  Financial strength rating      A+/Watch Neg/--
Sony Bank Inc.
  Counterparty credit rating     A-/Watch Neg
Rating Affirmed
Sony Bank Inc.
  Counterparty credit rating     A-2

CONTACT:

Sony Corporation
7-35 Kitashinagawa 6-Chome
Shinagawa-Ku 141-0001, Tokyo 141-0001
JAPAN
Phone: +81 3 5448 2111
Fax: +81 3 5448 2244
Web Site: http://www.world.sony.com


UFJ HOLDINGS: Clarifies Bank-unit Merger Report
-----------------------------------------------
UFJ Holdings Inc. (UFJ) clarified the recent media reports
stating that the bank subsidiaries of Mitsubishi Tokyo Financial
Group, Inc. (MTFG) and UFJ, Bank of Tokyo-Mitsubishi and UFJ
Bank, may delay their planned merger.

The MTFG group and the UFJ group are pursuing preparations for
their integration (subject to approval by the relevant
authorities) in October 2005. As regards the merger of the group
banks, it is essential to make a secure and effective transition
to minimize inconvenience to the customers of the banks. To
achieve a secure and effective transition, a series of
transition reviews are taking place as scheduled. A final
decision on the group bank merger schedule will be made
following confirmation that the schedule will achieve a secure
and stable transition.

MTFG and UFJ are currently involved in this transition review
process and as of today no decision has been made to alter their
previously announced plans. If any such decision is made in the
future, the details will be announced in a timely manner.

CONTACT:

UFJ Holdings, Inc.
5-6, Fushimimachi 3-chome,
Chuo-ku, Osaka-shi,
Osaka 541-0044,
Japan
Web site: http://www.ufj.co.jp


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

ASIANA AIRLINES: Management Schedules Talk Friday Afternoon
-----------------------------------------------------------
Asiana Airlines Inc. was pressured Friday as the government
issued an ultimatum for the strike's end, reports Asia Pulse,
citing Yonhap News.

Asiana has to step up efforts to make progress in negotiations
with the strikers to avoid government arbitration.  The Labor
Ministry gave the union until this weekend or extreme measures
would be taken against them, including exertion of the
government's emergency arbitration rights.

The negotiation scheduled Friday afternoon, which is the 17th
round, is set to take place in Cheongju, 137 kilometers
southeast of Seoul, near to site of the strike.

Sales losses would reach an estimated KRW201 billion if flight
disruptions continue over the weekend.

CONTACT:

Asiana Airlines Incorporated
47 Osoe-Dong Kangseo-Gu
157-270
Korea (South)
Telephone: +82 2 669 3114
Fax: +82 2 669 3170


BRIDGE SECURITIES: To Undertake Mandatory Capital Reduction
-----------------------------------------------------------
The directors (the Directors or the Board) of Regent Pacific
Group Limited refer to the announcements made by the Company on
July 4 and 13, 2005 with respect to, inter alia, a KRW100
billion mandatory capital reduction (the Mandatory Capital
Reduction) of Bridge Securities Co., Ltd (Bridge, a 77.75
percent owned subsidiary of Bridge Investment Holding Limited
(BIH), which is in turn a 40.2 percent owned associate of the
Company), representing approximately 52.1 percent of Bridge's
net asset value as at March 31, 2005.

Pursuant to the Mandatory Capital Reduction, 41.2231177 percent
of Bridge shares will be repurchased by Bridge mandatorily at
KRW3,380 (US$3.34 or HK$26.05) per share, which is expected to
complete on or around September 20, 2005.

The Directors announced that the resolution approving the
Mandatory Capital Reduction has been passed unanimously at the
extraordinary general meeting of Bridge held on August 4, 2005.

As noted from the announcement dated July 4, 2005, as part of
the Mandatory Capital Reduction, creditors of Bridge are allowed
to present their objection, if any, before September 5, 2005.

Assuming that no creditors object, it is expected that BIH,
through certain of its subsidiaries, will receive approximately
US$73.36 million (HK$572.21 million) and RPCA (L) Limited (a
wholly owned subsidiary of the Company) will receive
approximately US$0.40 million (HK$3.12 million), net of
estimated Korean taxes.

The Mandatory Capital Reduction and the Share Sale Option
Agreement (as referred to in the announcement dated July 13,
2005), in aggregate, constitute a discloseable transaction of
the Company under Rule 14.06 of the Listing Rules. A circular
containing, inter alia, details of the Mandatory Capital
Reduction and the Share Sale Option Agreement was dispatched to
all shareholders of the Company on July 25, 2005.

While (a) the Mandatory Capital Reduction has been approved by
the shareholders of Bridge, and (b) the Share Sale Option
Agreement has been signed, there can be no assurance that either
(i) the Mandatory Capital Reduction will complete, or (ii) the
conditions for the share sale under the Share Sale Option
Agreement will be satisfied.

Accordingly, shareholders and potential shareholders are advised
to exercise extreme caution when dealing in the shares of the
Company. Further, shareholders and potential shareholders should
note that the amounts expressed in this announcement and the
announcements and circular referred to herein relating to the
proceeds to be received and the potential distributions to be
made by the Company are merely indicative and not definitive.

Your Directors will consider the amount of the distribution(s)
that the Company will make to all shareholders nearer the time
the proceeds are paid to BIH shareholders and an appropriate
announcement will be made to shareholders in the usual manner.
The Directors understand from the BIH directors that they hope
that BIH will make the distributions by October 31, 2005.

On Behalf of the Board of
Regent Pacific Group Limited
Jamie Gibson
Director

CONTACT:

Bridge Securities Company, Limited
198 Ulchiro 2-ga, Chung-gu
Seoul, South Korea
Phone: +82 2 771 0900
Fax:   +82 2 3779 3610
Web site: http://www.bridgefn.com/


HYNIX SEMICONDUCTOR: Disposes of 2.34% Stake in Hyundai Autonet
---------------------------------------------------------------
Hynix Semiconductor Inc. cuts its stake in Hyundai Autonet Co.
by selling its 2.34 percent stake, reveals Yonhap News.

Hynix's remaining equity holding in Hyundai Autonet is down
12.87 from the previous 15.21 percent.

According to the nation's Public Fund Oversight Committee late
last month, Hyundai Motor Co. and Siemens AG will buy a
controlling stake in Hyundai Autonet.

Hyundai Autonet, spun-off from Hynix, is nearly 35 percent owned
by the Korea Deposit Insurance Co.

CONTACT:

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


LG CARD: Union Demands Investigation of Group Chairman
------------------------------------------------------
New York-based equity fund, Warburg Pincus will soon be facing
charges of alleged insider trading of LG Card Co. Ltd. shares,
according to The Korea Times, citing an unnamed source.

According to the source, a possible fine will be slapped to
Warburg Pincus.  Also, an executive at LG Chem would possibly be
facing sanctions for alleged collusion of unauthorized stock
trading.

"It seems that prosecutors will announce their investigation
results and appropriate measures Friday or early next week."

Warburg Pincus invested in LG Card in 2002 by setting up two
subsidiary funds, Pecan Investment Holdings and Acorn Investment
Holdings, in a tax haven.

As LG Card faced cash flow problems due to bulging loan
overdues, Warburg began dumping its stake in LG Card during the
first quarter of 2003.

Not until LG Card began defaulting debt payment and suspending
cash advance services in November 2003 did few investors become
aware of a cash shortage, officials at the Financial Supervisory
Services (FSS) said.

Warburg's two subsidiary funds conducted several major stock
sales in June, July and October in 2003 an FSS official said. As
a result, retail investors suffered heavy losses.

In December 2002 Warburg held 18.92 percent in LG Card via the
two subsidiaries, but soon sold a large part of their shares by
the end of October 2003.

Acorn Investment Holdings sold a large amount of its shares,
reducing its stake from 9.46 percent on Dec. 30, 2002 to 3.06
percent on October 30, 2003. Pecan Investment Holdings' stake
also went down from 9.46 percent to 4.38 percent over the same
period.

LG Card stock price dropped to KRW14,150 on October 30, 2003,
after posting KRW34,000 on December 30, 2002.

LG Group chairman Koo Bon-moo and a number of LG's individual
inside traders were also reported selling their LG Card shares
just before it slipped into bankruptcy, LG Card's creditor banks
and labor union said.

But the FSS only referred four individuals, including head of
Warburg Pincus Korea and the LG Chem official, to prosecutors in
February.

Unionized workers plans to hold a press conference to call for
judicial powers to investigate Chairman Koo.

CONTACT:

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


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

AKTIF LIFESTYLE: AGM Slated for August 25
-----------------------------------------
The Board of Directors of Aktif Lifestyle Corp. Berhad informed
Bursa Malaysia Securities Berhad that the 11th Annual General
Meeting of the Company will be held at Level 2, Grand Seasons
Hotel, No. 72 Jalan Pahang, 53000 Kuala Lumpur on Thursday,
August 25, 2005 at 2:30 p.m.

Click to view a notice of the 11th AGM
http://bankrupt.com/misc/AktifLifestyle080605.doc

This announcement is dated 1 August 2005.

CONTACT:

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


AKTIF LIFESTYLE: SC Extends Deadline for Submission of Proposal
---------------------------------------------------------------
Aktif Lifestyle Corporation Bhd refers to the announcements made
on July 14, 2005 and July 19, 2005, wherein it was announced
that the Securities Commission and Bursa Malaysia Securities
Berhad approved the extension of time for the Company to submit
a comprehensive proposal to regularize its financial condition
for one (1) month to August 15, 2005.

Save for the above, there have been no material developments in
respect of the proposed new restructuring scheme, which was
announced on the June 1, 2005 to regularize the financial
condition of Aktif.

This announcement is dated 1 August 2005.


AVANGARDE RESOURCES: Still In Negotiations to Regularize Plan
-------------------------------------------------------------
In compliance with Paragraph 3.1 (b) of PN17/2005, Avangarde
Resources Berhad advised Bursa Malaysia Securities Berhad that
since the last announcement on July 1, 2005, the Company's Board
of Directors is still in the process of negotiating the
Regularization Plan.

The Regularization Plan will be made available to Bursa
Securities once they are finalized.

This announcement is dated 1 August 2005.

CONTACT:

Avangarde Resources Berhad
2nd Floor, 17 & 19, Jalan Brunei Barat,
Pudu 55100, Kuala Lumpur Malaysia
Telephone: (60) 3 242 6689
Fax: (60) 3 244 1854


AYER HITAM: Financial Condition Still Unchanged
-----------------------------------------------
Further to Ayer Hitam Tin Dredging Malaysia Berhad's
announcement dated July 1, 2005, the Board of Directors of Ahtin
advised Bursa Malaysia Securities Berhad that there have been no
further changes in status since the date of the last
announcement.

The Company is still in the midst of finalizing the terms and
conditions for the proposed acquisition of an asset, which is
envisaged to form part of the Company's restructuring scheme to
regularize the financial condition of the Company.

A detailed restructuring scheme will be announced once the above
is completed.

The Company has yet to make its Requisite Announcement pursuant
to PN4.

This announcement is dated 1 August 2005.

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
8 Jalan Raja Chulan
50200 Kuala Lumpur, 50200
Malaysia
Telephone: +60 3 2031 9633
Fax: +60 3 2031 6920


BELL & ORDER: Court Extends Restraining Order for 6 Months
----------------------------------------------------------
In compliance with the requirements of Paragraph 3.1(b) of
PN17/2005, Avenue Securities Sdn Bhd, on behalf of the Board of
Directors of Bell & Order Berhad informed Bursa Malaysia
Securities Berhad on the following developments relating to the
Company's plan to regularize its financial condition.

The Company has been granted an Order for an extension of the
restraining order for a period of 6 months from June 23, 2005 by
the High Court of Malaya in Kuala Lumpur pursuant to Section
176(1) and 176(10) of the Companies Act, 1965 on June 30, 2005.

The restraining order which is required for B&O to convene the
creditors meeting for the Composite Scheme of Arrangement is an
integral part of the Company's Proposals to regularize its
financial conditions.

This announcement is dated 1 August 2005.

CONTACT:

Bell & Order Berhad
28 & 30 Jalan Pjs 11/14
Bandar Sunway
Petaling Jaya 46150
Malaysia
Phone: 03 - 56336966
Fax: 03 - 56345081


BUKIT KATIL: Status to Regularize Plan Remains Unchanged
--------------------------------------------------------
Pursuant to Paragraph 4.1(b) of the Practice Note No. 4/2001,
Bukit Katil Resources Berhad advised Bursa Malaysia Securities
Berhad that there has been no material change in the status of
the Company's plan to regularize its financial conditions since
the last announcement dated July 1, 2005.

The Company is still in the midst of formulating a debt-
restructuring plan to regularize its financial condition and is
currently in discussions with prospective investors on potential
assets for injection.

The details of the restructuring plan will be announced once it
is finalized and agreed upon by all parties concerned.

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela, Pusat Bandar
Damansara, Damansara Heights
Kuala Lumpur, 50490 Malaysia
Phone: +60 3 2095 7077
Fax: +60 3 2094 9940


CONSOLIDATED FARMS: Defaults on Monthly Payment
-----------------------------------------------
The Board of Consolidated Farms Berhad announced the following
to Bursa Malaysia Securities Berhad:

(1) Monthly Status Announcement: Practice Note No. 1/2001

The Confarm Group has been unable to pay the amount of principal
and/or interest in respect of its credit facilities as at July
31, 2005 as set out in Table 1.

Table 1

Amount of Principal and/or Interest Due as at July 31, 2005

Lender    Borrower       Amount Due    Type of Facilities
                              as at 31
                              July 2005
                              (RM'000)

Bank           Confarm        12,113.2      Term Loan (TL)
Pertanian
Malaysia
(BPM)

Bumiputra-     Confarm        10,853.8      Bankers'
Commerce                                    Acceptance
Bank                                        (BA)
Berhad

Malayan        Confarm        12,569.7      TL and BA
Banking
Berhad
(MBB)

BCBB          Consolidated     4,851.4       TL and BA
              Breeder Farms
              Sdn Berhad

BCBB          Consolidated    11,741.4       TL and BA
              Feedmill Sdn
              Bhd (CFM)

BPM         Consolidated       544.4    TL
              Organic
              Fertiliser Sdn
              Bhd (COF)

MBB         COF                296.0    BA

BCBB         Consolidated     2,856.7    TL and BA
              Liquid Eggs
              Sdn Bhd
              (CLESB)

BPM         CLESB          795.8    TL

AmMerchant    Confarm              791.2    Revolving
Bank Berhad                                  Credit (RC)
(AMBB)

AMBB         CFM                  296.7     RC

Total                       57,710.3

(2) Monthly Status Announcement: Practice Note No. 4/2001

Further to the Announcement dated 1 July 2005, the Board of
Directors of Confarm, wishes to announce that there has been no
material development in respect of the Company's plan to
regularise its financial position.

This announcement is dated 1 August 2005.

CONTACT:

Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299


CHG INDUSTRIES: Awaits SC Approval on Restructuring Scheme
----------------------------------------------------------
In relation to the application on the Proposed Debt and
Corporate Restructuring Scheme submitted on December 24, 2004,
CHG Industries Berhad is awaiting the approval of the Securities
Commission and Foreign Investment Committee.

Meanwhile, the Restraining Order has been further extended for a
period of ninety (90) days from July 28, 2005 to October 25,
2005 to facilitate the implementation of the Proposed Debt and
Corporate Restructuring Scheme.

This announcement is dated 1 August 2005.

CONTACT:

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


DATUK KERAMAT: Shares Trading Suspended
---------------------------------------
Please be advised that Datuk Keramat Holdings Berhad has yet to
release its annual audited accounts together with the auditors'
and directors' reports for the 15 months financial period ended
December 31, 2004 (AAA2004) which were due on April 30, 2005.

In this respect, trading in the Company's shares has been
suspended with effect from 9:00 a.m., Monday, August 1, 2005
pursuant to Paragraph 16.02(c) of the Listing Requirements until
further notice.

CONTACT:

Datuk Keramat Holdings Berhad
16B 3rd Floor
Jalan 14/20 Section 14
46100 Petaling Jaya
Malaysia
Phone: 03-79588166
Fax: 03-79566766


GEORGE TOWN: Bourse Halts Securities Trading Pending Report
-----------------------------------------------------------
Please be advised that George Town Holdings Berhad has yet to
release its annual audited accounts together with the auditors'
and directors' reports for the 15 months financial period ended
December 31, 2004 (AAA2004) which were due on April 30, 2005.

In this respect, trading in the Company's shares has been
suspended with effect from 9:00 a.m., Monday, August 1, 2005
pursuant to Paragraph 16.02(c) of the Listing Requirements until
further notice.

CONTACT:

George Town Holdings Berhad
Jalan 14/20 Section 14
46100 Petaling Jaya, Selangor Darul Ehsan 50300
Malaysia
Telephone: +60 3 7958 8166
Fax: +60 3 7957 8471


GULA PERAK: Issues Notice of Book Closure
-----------------------------------------
Gula Perak Berhad issued to Bursa Malaysia Securities Berhad a
notice of book closure and maturity of 5-year Zero Coupon
Irredeemable Convertible Secured Loan Stocks 2000/2005 (ICSLS
2000/2005).

(1) The last date of lodgement: August 24, 2005

(2) Trading of the ICSLS 2000/2005 will be suspended with effect
from 9:00 a.m, Tuesday, August 16, 2005.

3) The ICSLS 2000/2005 will be removed from the Official List of
the Exchange with effect from 9:00 a.m., Friday, September 2,
2005.

CONTACT:

Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Telephone: 03-4044 2828
Fax: 03-4044 6688


KRAMAT TIN: Appeals SC Decision
-------------------------------
Further to the announcement dated July 1, 2005, Commerce
International Merchant Bankers Berhad, on behalf of Kramat Tin
Dredging Berhad (KTD), had announced that KTD has submitted an
application to the Securities Commission (SC), on behalf of
Putrajaya Holdings Sdn Bhd (PJH) and Abad Kilat Sdn Bhd (AKSB)
to appeal against the decision of the SC for a waiver from the
need to subject 50 percent of the securities to be received by
PJH and AKSB under the proposals to a moratorium.

The SC, via its letter dated July 28, 2005, has not approved the
application by KTD for a waiver for both PJH and AKSB from
complying with the requirement of Paragraph 12.09 of the
Policies and Guidelines on Issue/Offer of Securities of the SC
relating to the need to subject 50 percent of the securities to
be received by PJH and AKSB under the Proposals to a moratorium
(Appeal).

The parties to the proposals will deliberate on the SC's
decision on the Appeal.

Based on the foregoing, the status of KTD's plan remains
unchanged from what had been announced on July 1, 2005, July 11,
2005 and July 28, 2005 respectively.

This announcement is dated 1 August 2005.

CONTACT:

Kramat Tin Dredging Berhad
No 12 Jalan Gelenggang Bukit Damansara
50490 Kuala Lumpur, 50490
Malaysia
Telephone: +60 3 2092 5588
Fax: +60 3 2093 9917


LITYAN HOLDINGS: Commences Proposed Restructuring Scheme
--------------------------------------------------------
In compliance with Paragraph 3.1(b) of PN17/2005, Lityan
Holdings Berhad (Company) informed Bursa Malaysia Securities
Berhad that the Company had via Avenue Securities Sdn Bhd
announced its Proposed Restructuring Scheme (Scheme) on July 29,
2005.

CONTACT:

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


MAXIS COMMUNICATIONS: Bourse to List Additional Shares
------------------------------------------------------
Maxis Communications Berhad advised that its additional
1,226,000 new ordinary shares of MYR0.10 each issued pursuant
the Employee Share Option Scheme (Scheme) will be granted
listing and quotation with effect from 9:00 a.m., Wednesday,
August 3, 2005.

CONTACT:

Maxis Communications Bhd
Level 18, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
Malaysia
Phone: 03-23307000
Fax: 03-2330059


MEGA PASCAL: Still in Talks over Regularization Plan
----------------------------------------------------
In compliance with the requirements of Paragraph 3.1(b) of
PN17/2005, Mega Pascal Berhad informed Bursa Malaysia Securities
Berhad that it is currently deliberating on the regularization
plan.

Once completed the requisite announcement outlining the
regularization plan shall be made available to the Bursa
Securities.


MENTIGA CORPORATION: Inks Second SSA on Disposal of Shares
----------------------------------------------------------
Further to the status report made on July 1, 2005, Mentiga Corp.
Berhad disclosed to Bursa Malaysia Securities Berhad that the
Company is still awaiting for the Securities Commission's (SC)
approval on the revised proposals which were submitted by
Commerce International Merchant Bankers (CIMB), on behalf of the
Company on March 15, 2005.

On behalf of the Mentiga, CIMB had on July 18, 2005 announced
that the Company and the Purchasers, namely Delloyd Plantation
Sdn Bhd (DPSB) and Taipan Hectares Sdn Bhd had entered a Second
Supplemental Agreement (SSA) on the proposed disposal of 90
percent shares of PT Rebinmas Jaya by Mentiga's 56 percent owned
subsidiary, Selat Bersatu Sdn Bhd (SBSB), for the following:

(i) To extend the last date for the conditions precedent of the
Sale and Purchase Agreement (SPA) to be fulfilled to October 17,
2005;

(ii) A deposit sum of MYR6.8 million was paid by the Purchasers
to the Vendors' solicitors upon execution of the SPA; and

(iii) The Vendors will release to DPSB an amount of MYR500,000
(Released Sum) from the MYR3.3 million currently held by its
solicitors for further rehabilitation of the Plantations. The
Released Sum will be repaid to SBSB together with the balance
consideration for the Proposed Disposal in accordance with the
SPA.

CONTACT:

Mentiga Corporation Berhad
Peramu Jaya
26607 Pekan, Pahang Darul Makmur 50400
Malaysia
Telephone: +60 443 9411
Fax: +60 443 1233


MTD CAPITAL: Repurchases Ordinary Shares
----------------------------------------
MTD Capital Berhad issued to Bursa Malaysia Securities Berhad a
notice of shares buy back with the following details:

Date of buy back from: July 25, 2005

Date of buy back to: July 25, 2005

Total number of shares purchased (units): 253,100

Minimum price paid for each share purchased (MYR): 2.220

Maximum price paid for each share purchased (MYR): 2.220

Total amount paid for shares purchased (MYR): 561,882.00

The name of the stock exchange through which the shares were
purchased: Bursa Malaysia Securities Berhad

Number of shares purchased retained in treasury (units): 253,100

Total number of shares retained in treasury (units): 19,004,400

Number of shares purchased which were cancelled (units): 0

Total issued capital as diminished: 0

Date lodged with registrar of companies: August 1, 2005

Lodged by: MTD Capital Bhd

CONTACT:

MTD Capital Berhad
Batu 8 Jalan Batu Caves
Lot 8359 Mukim of Batu
Batu Caves, Selangor Darul Ehsan 68100
Malaysia
Telephone: +60 3 6189 9022/ +60 3 6187 7898
Web site: http://www.mtdcap.com/


MWE HOLDINGS: Unveils Related Party Transaction
-----------------------------------------------
MWE Holdings Berhad issued to Bursa Malaysia Securities Berhad
an update on the advance of MYR2.50 million extended by Davex
Holdings Berhad (DHB)

Introduction

Pursuant to paragraph 10.08 of Par E, Chapter 10 of the Bursa
Malaysia Securities Berhad Listing Requirements, the Board of
Directors of MWE Holdings Berhad (MWE) advised that the Company
has entered into the following related party transaction.

Details of the Transaction

MWE had on August 1, 2005 accepted an advance of RM2.50 million
extended by DHB, a 92.89 percent subsidiary of MWE, for the
purpose of repayment of MWE's bank borrowings (the Transaction).

As at July 31, 2005, there is no outstanding balance between DHB
and MWE.

Directors' and Substantial Shareholders' Interests

MWE is a substantial shareholder of DHB. Mr Tang King Hua, the
Managing Director of the Company, is a director and also a
shareholder of DHB. Dato' Surin Upatkoon and Mr Lawrence Lim
Swee Lin are directors of DHB.

Save as disclosed above and to the best knowledge of the Board
of Directors, none of the Directors or substantial shareholders
of MWE and persons connected to the directors or substantial
shareholders has any interest, direct or indirect in the
Transaction.

Directors' Opinion

The Board of Directors of the Company, having taking into
consideration all aspects of the Transaction, is of the opinion
that the Transaction is in the best interest of MWE group.

Approval Required

The transaction has been approved by the minority shareholders
of DHB.

Save as disclosed above, the transaction is not subject to the
approval of shareholders of MWE nor relevant authorities.

CONTACT:

MWE Holdings Berhad
846 Jalan Raya Sungei Bakap
Seberang Perai Selatan,
Pulau Penang 14209
Malaysia
Telephone: +60 4 582 4811
Fax: 60 4 582 4707


PETALING TIN: To Apply for Lifting of PN17 Condition
----------------------------------------------------
In compliance with the requirements of Paragraph 3.1(b) of
PN17/2005, Petaling Tin Berhad (the Company) disclosed the
following developments since the last announcement on July 1,
2005 relating to the Company's plan to regularize its condition.

As announced earlier, the Company's wholly owned subsidiary,
Lembah Langat Development Sdn Bhd (LLD), has launched the sale
of 71 units of Double Storey Link Houses located at Taman Kelab
Ukay, Ampang on January 25, 2005.

The total Gross Development Value (GDV) of the project is
estimated at MYR29.51 million. LLD has to date received booking
and sales for 70 residential units with total GDV of
approximately MYR28.93 million. As at July 31, 2005, the revenue
recognized for the development on percentage of completion
basis, amounted to MYR4,008,904.00.

On July 6, 2005, the Company's wholly owned subsidiary, PTB
Horticulture Farm Sdn Bhd has entered into a Sale and Purchase
Agreement to sell its development land held under Geran No.
49875 Lot 1315 Seksyen 57, Bandar Kuala Lumpur, Daerah Kuala
Lumpur, Negeri Wilayah Persekutuan measuring 9,764 square metres
to Starpuri Development Sdn Bhd, a wholly owned subsidiary of
DNP Holdings Berhad, for a total consideration of MYR59.0
million.

The Company will submit an application to Bursa Malaysia
Securities Berhad (BMSB) to be uplifted from PN17/2005 after
announcing the quarterly financial results for the quarter ended
July 31, 2005 to BMSB that the Company has achieved a revenue
which represents more than 5 percent of the issued and paid-up
capital of the Company.

This announcement is dated 1 August 2005.

CONTACT:

Petaling Tin, Berhad
No 8 Lorong P Ramlee
Level 19 Menara PanGlobal
50250 Kuala Lumpur 50250
Malaysia
Telephone: +60 3 2026 4491
Fax: +60 3 2026 3106


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

ABS-CBN BROADCASTING: Adds New Cable Anime Channel
--------------------------------------------------
ABS-CBN Broadcasting Corporation has added a new cable channel,
in response to the growing demand of its anime programs, The
Philippine Star reports.

The new channel called Hero is the country's first and only all-
Tagalog dubbed anime channel. It will showcase anime classics
such as Voltes V, Zenki, and Shaider. Popular anime programs
like - Naruto, Beyblade, Gate Keepers, and Tokyo Underground are
also featured, together with latest anime offerings like Crush
Gear Nitro, Beyblade V-Force, Captain Kuppa, Gransazers, Rocket
Kidz, and D.IE.

Hero will soon be available on Sky, Home, Sun and all major
cable systems nationwide.

This was the latest move taken by ABS-CBN subsidiary Creative
Programs Inc. (CPI), the proud creator and distributor of the
country's leading cable channels Cinema One, MYX and the
Lifestyle network in line with efforts to provide the viewing
public with a variety of programs.

CPI also distributes ABS-CBN's other platforms like ANC and
Studio 23 to cable systems nationwide through its PowerBundle
distribution group. Since it was formed in 2001 when ABS-CBN
bought out the channel networks of SkyCable, CPI has earned
consistent jumps in net sales due to increased subscription
revenues.

To date, the subsidiary is among the third biggest revenue
driver of loss-making parent company, ABS-CBN.

CONTACT:

ABS-CBN Broadcasting Corp
Mother Ignacia St
Corner Sgt
Quezon City 1100
Philippines
Phone:  2 924 4101
Fax:  2 921 5888
Web site: http://www.abs-cbnnews.com/


INTERPHIL LABORATORIES: SEC Approves Amended By-Laws
----------------------------------------------------
This is in reference to Circular for Brokers Nos. 1622-2005
dated April 7, 2005 and 3019-2005 dated June 23, 2005, in
connection with the approval by the Board of Directors and
Stockholders of Interphil Laboratories Inc. (ILI or the Company)
of the amendment to Article II, Section 9 (Nomination and
Election of Directors) of its By-Laws.

In relation thereto, the Company furnished the Exchange a copy
of its Amended By-Laws as approved by the Securities and
Exchange Commission on July 28, 2005.

Interphil's principal activities are manufacturing, processing
and packaging of drugs, chemicals, pharmaceuticals, and
veterinary products. At 31-Dec-2002, the Company operates in 3
plants, with 2 manufacturing facilities located in Canlubang and
a minor operation in Sucat, Muntinlupa. Its manufactured
products are exported through its clients to Taiwan, China, Hong
Kong,
Malaysia, Australia and New Zealand.

CONTACT:

Interphil Laboratories, Inc.
Canlubang Industrial Estate Bo Pittland
4025 Cabuyao, Laguna 4025
PHILIPPINES
Phone: +63 49 549 2345
Fax: +63 49 817 2435
Web site: http://www.telesenskscl.com


NATIONAL BANK: Sugar Farmers Call for Postponement of Stake Sale
----------------------------------------------------------------
A group of sugar planters have urged the national government to
delay the sale of a majority stake in Philippine National Bank
(PNB), since the prevailing price may be undervalued, according
to BusinessWorld.

The Bacolod-based "Planters Against the Plunder of the Sugar
Industry" have requested Finance Secretary Margarito Teves to
stop the Aug. 12 auction of PNB's stake, claiming that the
bidding will result to a loss of about Php15-20 billion in
potential windfall from sugar crop loans.

The sugar barons said the government may earn more if it sells
the 67-percent controlling stake in PNB at a later date. PNB
estimated that the government could raise at least Php15 billion
from the sale. They added that PNB's share prices may improve
once the bank collects an estimated P15 billion worth of
payments for a Php3-billion loan extended to 4,000 borrowers.

The loans were extended in the late 1980s by the Republic
Planters Bank, which PNB took over in 1986.

The sugar planters believe that PNB can earn Php15 billion by
2013 when all of the loans have been paid, including interests.
The Php3-billion sugar loan is held by the Bangko Sentral
through a dacion en pago deal as PNB's partial payment to the
central bank's Php20-billion emergency assistance in 1991.

Although the Bangko Sentral has yet to make an official
statement on the matter, a ranking official said there was
nothing anomalous with the deal. The extension of the loan was a
normal transaction, studied and approved by the Monetary Board.

The government and the Lucio Tan group are set to sell their
combined 67-percent PNB stake, with shares priced at Php43 a
piece.

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/


NATIONAL POWER: ERC Demands Adherence to Dispatch Scheme
--------------------------------------------------------
In a bid to give customers cheaper electricity cost, the Energy
Regulatory Commission has ordered National Power Corporation
(Napocor) and the Manila Electric Company (Meralco) to observe
the policy of economic dispatch of power plants, relates The
Manila Bulletin.

In a letter to NPC president Cyril C. del Callar, ERC chairman
Rodolfo B. Albano has informed him of the regulatory mandate for
the System Operator National Transmission Corporation (Transco)
"to strictly observe the dispatch criteria that will bring the
least cost to consumers."

In view of this policy, Napocor and Meralco have been instructed
by the regulatory body to submit the best dispatch scenario of
their power plants and that of their contracted capacity with
independent power producers (IPPs). The information will be used
for ERC's assessment and evaluation on which facilities would be
able to offer cheaper cost to end-users.

The order serves as an interim arrangement as Napocor and
Meralco are still in the process of negotiations with the
endgoal of finally bringing to resolution all of the pending
issues related to their 10-year supply contract that already
lapsed in December last year; and their foray into sealing a
transition supply contract.

CONTACT:

National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax:   +63-2921-2468
Web site: http://www.napocor.gov.ph/


NATIONAL TRANSMISSION: Braces for Speedy Privatization in Q4
------------------------------------------------------------
The National Transmission Corp. (Transco) is preparing for its
accelerated privatization in the fourth quarter when the Energy
Regulatory Commission (ERC) decides on the transition revenue
cap for the second regulatory period, The Philippine Star
reports.

The Power Sector Assets and Liabilities Management Corp. (PSALM)
said bidders will be in a better position forecasting their
prospective revenue streams, once the ERC sets Transco's maximum
allowable revenue (MAR) in the second regulatory period.

"(The bidders) will have valuable information in preparing their
bids as MAR will be the basis for computing the transmission
rates that will be charged to electricity users," PSALM
president Nieves L. Osorio explained.

PSALM, the state agency handling Transco's privatization, will
conduct an auction for the power transmission business through a
25-year concession contract. The agency decided to privatize the
assets through competitive bidding, although talks with
prospective investors have been started last year.

The Electricity Generating Technology of Thailand (EGAT) and its
Filipino partners have recently signified their interest in
bidding for the assets. PSALM is finalizing the terms of
reference for the competitive bidding.

Transmission wheeling rates are the primary revenue source for
the private concessionaire of the electricity transmission
operations. The transmission rates were set by the ERC in 2003,
the start of the first regulatory period. The second regulatory
period was originally scheduled for Jan. 1, 2006 but was
deferred to April 2006 and will be reset every five years.

The ERC announced that the revenue cap will be announced in
April 2006 after completing public consultations in the first
quarter of next year.

At the start of each five-year regulatory period, the ERC will
determine the concessionaire's annual revenue requirement based
on its operating and maintenance expenses, estimated tax
payments, depreciation charges on assets used, and investors'
return on capital. These will be the basis for computing the
concessionaire's maximum allowable revenue for the regulatory
period.

By the end of each year, the revenue cap will be computed
against the actual revenue collection of the concessionaire, the
difference of which will be the basis for adjusting the
following year's revenue cap.

The revenue cap will assure consumers that fair electricity
rates will be charged even after the privatization of Transco.

CONTACT:

National Transmission Corporation
Power Center BIR Road, cor. Quezon Avenue
Diliman, Quezon City
Telephone: (02) 9812100
Web site: https://www.transco.ph


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

CHARTERED SEMICONDUCTOR: Starts Tender Offer for Senior Notes
-------------------------------------------------------------
Chartered Semiconductor Manufacturing Limited announced on Aug.
4, 2005 that it commenced a tender offer for its SGD949.8
million senior convertible notes due in 2006.

The redemption amount for the Notes at maturity is the accreted
value at maturity of approximately SGD1.1 billion, plus accrued
and unpaid 2.5% per year semi-annual interest payment. The
accreted value of the Notes as of September 2, 2005 (the
expected settlement date of the Tender Offer) will be
approximately SGD1.08 billion.

The tender offer will expire on Sept. 2, 2005, 12:01 a.m. New
York time, unless it is extended or terminated earlier.

For further details on the news release, click on:

http://bankrupt.com/misc/tcrap_charteredsemi1080505.pdf

CONTACT:

Chartered Semiconductor Manufacturing Ltd
60 Woodlands Industrial Park D Street 2
Singapore 738406
Phone: 65 63622838
Fax:   65 63622938
Web site: http://www.charteredsemi.com


RANCHHODDAS PURSHOTTAM: Creditor Seeks to Close Down Business
-------------------------------------------------------------
Notice is hereby given that Oversea-Chinese Banking Corporation
Limited, a creditor of Ranchhoddas Purshottam Holdings Pte
Limited, filed a winding up petition against the Company on July
20, 2005.

The petition is to be heard before the Court sitting at the
Singapore High Court on Aug. 12, 2005, 10:00 a.m.

Any creditor or contributory of the company desiring to support
or oppose the making of an order on the petition may appear at
the time of hearing by himself or his counsel for that purpose.

A copy of the petition will be furnished to any creditor or
contributory of the company requiring the copy of the petition
by the undersigned on payment of the regulated charge for the
same.

The Petitioner's address is at 65 Chulia Street, #29-02/04 OCBC
Center, Singapore 049513.

The Petitioner's solicitors are Messrs. Shook Lin & Bok of 1
Robinson Road, #18-00 AIA Tower, Singapore 048542.

Messrs. Shook Lin & Bok
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the petition
must serve on or send by post to the Petitioner's solicitors,
notice in writing of his intention to do so. The notice must
state the name and address of the person, or if a firm, the name
and address of the firm, and must be signed by the person, firm,
or his or their solicitors (if any) and must be served, or, if
posted, must be sent by post in sufficient time to reach the
solicitors not later than 12:00 p.m. pf Aug. 11, 2005 (the day
before the day appointed for the hearing of the petition).


SEP LOGISTICS: To Distribute Dividend to Creditors
--------------------------------------------------
SEP Logistics Pte Limited, formerly of 18 Chwee Chian Road,
Singapore 119871 posted a notice of intended dividend at the
Government Gazette, Electronic Edition with the following
details:

Name of Company: SEP Logistics Pte Limited
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 412 of 1998
Last Day for Receiving Proofs: Aug. 12, 2005
Name & Address of Liquidator: The Official Receiver
The URA Center (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: July 29, 2005

Beverly Wee Ying Ling
Assistant Official Receiver


SING MALAYA: Receiving Proofs of Claim August 12
------------------------------------------------
Sing Malaya Mesh Company Pte Limited, formerly of 3 Sungei Kadut
Drive, Kranji Industrial Estate, Singapore 729556 posted a
notice of intended dividend at the Government Gazette,
Electronic Edition with the following details:

Name of Company: Sing Malaya Mesh Company (Pte) Limited
Court : Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 208 of 2000
Last Day for Receiving Proofs: Aug. 12, 2005
Name & Address of Liquidator: The Official Receiver
The URA Center (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Dated: July 29, 2005

Kamala Pomnampalam
Assistant Official Receiver

CONTACT:

Sing Malaya Mesh Company Pte Limited
3 Sungei Kadut Drive
Singapore 729556
Phone: 65 362 3433


SPH MEDIAWORKS: Distributes Dividend to Preferred Creditors
-----------------------------------------------------------
SPH Mediaworks Limited of 1000 Toa Payoh North News Center,
Singapore 318994, posted a notice of intended dividend at the
Government Gazette, Electronic Edition with the following
details:

Name of Company: SPH Mediaworks Limited
Dividend: 100% of all admitted proofs of preferential creditors
When Payable: July 29, 2005.
Where Payable: KPMG
16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581.

Dated this 29th day of July 2005

Peter Chay Fook Yuen
C/o KPMG
16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581


ZANTRON PTE: Creditors Asked to Submit Debt Claims
--------------------------------------------------
Notice is hereby given that the Creditors of Zantron Pte
Limited, which is being wound up voluntarily, are required on or
before Sept. 2, 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 Liquidator of the
Company.

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

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

Dated this 2nd day of August 2005

Chia Soo Hien
Liquidator
c/o BDO Raffles
5 Shenton Way
#07-01 UIC Building
Singapore 068808


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

PACIFIC ASSETS: Net Loss Balloons to THB90,700,000
--------------------------------------------------
Pacific Assets Public Company Ltd. furnished the Stock Exchange
of Thailand (SET) its unreviewed Quarter-2 and Consolidated F/S

Pacific Assets Public Company Limited
Unreviewed Ending June 30 (In thousands)

                         Quarter 2             For 6 Months
Year                2005        2004        2005        2004

Net profit (loss)  (90,700)    (26,572)    (93,848)    44,367

EPS (baht)          (0.27)      (0.08)      (0.28)      0.13

Please see details in financial statements from SET SMART

"The company hereby certifies that the information above is
correct and complete."

Mr. Thowthawal Subhavanich
Chief Executive Officer
Authorized to sign on behalf of the company

CONTACT:

Pacific Assets Public Company Limited
Two Pacific Place, Floor 23,
142 Sukhumvit Road,
Khlong Toei, Bangkok
Telephone: 0-2254-9900
Fax: 0-2254-9909, 0-2254-9287


PICNIC CORPORATION: Names New Director
--------------------------------------
The Board of Director's meeting of Picnic Corporation Public Co.
Ltd. held on August 4, 2005, resolved to appoint Mr. Nattachai
Aramrasmewanich as the Company's Managing Director, Director and
Executive Director, which would be effective on August 8, 2005.

Please be informed accordingly.

Yours sincerely
Mr. Nirun Fuganjananon
Assistant Managing Director

CONTACT:

Picnic Corporation Public Company Limited
805 Srinakarin Road, Suan Luang Bangkok
Telephone: 0-2721-3600-59
Fax: 0-2721-3571
Web site: http://www.picniccorp.com


KUANG PEI: Wants to Remain a Listed Company
-------------------------------------------
The Stock Exchange of Thailand (SET) has ordered Kuang Pei San
Food Products Public Company Limited to be transferred to the
Rehabco sector due a shareholder's equity of below zero.

The board on August 4, 2005 decided to retain the company's
status as a listed company, because it expects to solve the
problem by letting Kuang Holding Co. Ltd. pay its gross debt
immediately or in the due date that Kuang Holding stated in the
letter, which is December 30, 2005.

Sincerely yours,

Mr. Salil Tohtubtiang
Chief Executive Officer


CONTACT:

Kuang Pei San Food Products PCL
Tanasarn Tower, 43 Chiangmai Road,
Khlong San, Bangkok
Telephone: 0-2863-3288
Fax: 0-2437-8123





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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.  Information
contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

The TCR -- Asia Pacific subscription rate is $575 for 6 months
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

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