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

                     A S I A   P A C I F I C

             Wednesday, January 11, 2006, Vol. 9, No. 008

                            Headlines

A U S T R A L I A

BATCHELOR EARTHMOVING: Liquidator to Present Report Jan. 18
BATTERY WISE: Inability to Pay Debt Prompts Winding Up
CARRIER ELECTRICAL: Members Opt for Voluntary Liquidation
CARTER HOLT: Rank Unlikely to Complete Takeover
CEMENTATION SKANSKA: To Declare Dividend Jan. 14

FARNO IMPORTS: Prepares to Close Shop
GOLDEN CHEF: In Critical Talks to Keep Business Alive
GREENWOOD RESTAURANT: Members, Creditors Review Wind Up Report
GRICE CONSTRUCTIONS: Enters Voluntary Liquidation
G.R.&M.R. CONSTRUCTIONS: Court Appoints Official Liquidator

JUST LASERS: Intends to Pay Dividend to Creditors
LONORI PTY: Creditors OK Liquidator's Appointment
MOYREISK PASTORAL: Members Pass Winding Up Resolution
PATHOLD NO. 203: Court Winds Up Firm
PATRIOT PROTECTIVE: Schedules Final Meeting Jan. 18

RIGNA PTY: Court Issues Winding Up Order
SABB CARPENTRY: Ozem Kassem Named Official Liquidator
SANTOS LIMITED: Says Mutineer-Exeter Production to Resume
SOUTHERN BROS.: Set to Declare Final Dividend
TOWER 720: Decides to Shut Down Operations

TRADINGROOM PTY: Members Resolve to Wind Up Business
VIC PILE: Placed Under Voluntary Liquidation
VOLANTE GROUP: Says Figures in Bidder's Statement are Wrong
WESTPOINT GROUP: ASIC Wants to Get Hands on Financial Documents
ZEDENCO PTY: Members, Creditors to Receive Liquidation Report


C H I N A  &  H O N G  K O N G

ALRIGHT FAR EAST: Winding Up Process Initiated
BODY, MIND & SOUL: Court Releases Winding Up Order
BRILLIANCE CHINA: Chief Quits for Personal Reasons
CROWN FAVOUR: Court Orders Winding Up
HARVEY TECHNOLOGY: Prepares to Shut Down Operations

JANKY LIMITED: Receives Winding Up Order
LAPAGAYO LIMITED: Court Favors Liquidation
LEGEND STAR: Winds Up Business
RATONAL ELECTRONICS: Begins Winding Up Process
SEEKERS LIMITED: Set to Close Business

SOUTH AMERICA INTERNATIONAL: Ordered to End Operations
WISEWAYS INVESTMENT: Winding Up Process Begins


I N D I A

FOOD CORPORATION: CBI Raids Officials' Offices Over Rice Scam
GANESH BANK: RBI Unveils Amalgamation Scheme with Federal Bank  
SHIVA CEMENT: Board to Discuss Equity Issue, Transfer of Shares
SOUTH INDIAN: RBI May Scrap License
SOUTH INDIAN: Board Meeting Fixed Jan. 18


I N D O N E S I A

DIRGANTARA INDONESIA: Urges Government to Purchase Aircraft
GARUDA INDONESIA: Lufthansa Not Interested in Buying Stake
MERPATI NUSANTARA: To Fly to Remote Areas
PERUSAHAAN LISTRIK: Urged to Use Gas as Energy Source


J A P A N

JAPAN AIRLINES: Ups Order for Boeing Jets
MITSUBISHI MOTORS: Wants 1-2% U.S. Market Share
MITSUBISHI MOTORS: Introduces Concept-CT, MIEV Hybrid Vehicles
MITSUBISHI MOTORS: Unveils Lineup at '06 International Auto Show
PIONEER CORPORATION: Enters Into License Agreement With Acacia

SANYO ELECTRIC: Wins CNET Best of CES Award


K O R E A

ASIANA AIRLINES: Targets KRW190Bln Operating Profit in 2006
LG CARD: Swelling Price May Delay Sale


M A L A Y S I A

ANTAH HOLDING: Explains Deficit in Adjusted Shareholders' Equity
BELL & ORDER: Changes Name to Scomi Engineering
BELL & ORDER: Posts No Improvement in Default Status
CYGAL BERHAD: Fixes Warrant Exercise Price at MYR1.00 Each
INTAN UTILITIES: SC Allows 3rd Party to Underwrite Rights Shares

LIEN HOE: Bank Default Unlikely to Affect Finances, Operations
MAGNUM CORPORATION: Buys Back Ordinary Shares
MEDIA PRIMA: New Shares Up for Listing, Quotation
MERCES HOLDINGS: Disposes Of Interest in 3 Units
METROPLEX BERHAD: In Talks to Address Payment Default

PANTAI HOLDINGS: Issues New Shares for Listing, Quotation
PATIMAS COMPUTERS: Bourse to Suspend Trading of Securities
PETALING TIN: Updates Sale and Purchase Agreement Info
POH KONG: Issues New Shares for Listing, Quotation
TALAM CORPORATION: New Shares Up for Listing, Quotation

TELEKOM MALAYSIA: Unit to Issue Guaranteed Fixed Rate Notes


P H I L I P P I N E S

C&P HOMES: Notes Changes in Shareholdings After Restructuring
DMCI HOLDINGS: Clarifies Target Sales Report
EQUITABLE PCI: On Watch Positive After BDO Merger Offer
EXPORT AND INDUSTRY: Posts Changes in Shares Ownership
LAFAYETTE MINING: Government Levies Php10.4 Mln Fine for Spills

LAFAYETTE MINING: Responds to Reports on Mine Spill Issue
NORTHERN FOODS: Eyes Modernization to Avoid Closure
RFM CORPORATION: Issues Beneficial Ownership Reports
* Cash Woes Pull Down Pre-need Sales


S I N G A P O R E

ENDUE ELECTRONICS: Creditor Files Winding Up Petition
HAPPY MANUFACTURING: Receiving Claims Until Next Month
INFORMATICS HOLDINGS: Chinese Franchisees Drop Legal Suit
TOA INVESTMENT: Requires Creditors to Submit Debt Claims
TRIBO S.E.A.: Prepares to Distribute Dividend


T H A I L A N D

ABICO HOLDINGS: Informs Shareholders of Certificate Renewal
ADVANCE AGRO: Moody's Affirms B3 Unsecured Bond Rating

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BATCHELOR EARTHMOVING: Liquidator to Present Report Jan. 18
-----------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Batchelor Earthmoving Pty Limited will be held on
Jan. 18, 2006, 11:00 a.m. at the offices of B. K. Hamilton &
Associates, Level 2/171 Macquarie Street, Hobart, Tasmania, to
present the Liquidator's account showing how the Company was
wound up and its property disposed of, and to hear any
explanation that may be given by the Liquidator.

Dated this 30th day of November 2005

B. K. Hamilton
Liquidator
Level 2/171 Macquarie Street
Hobart Tas 7000
Phone: 03 6224 4660
Fax:   03 6224 0545


BATTERY WISE: Inability to Pay Debt Prompts Winding Up
------------------------------------------------------
Notice is hereby given that at a meeting of Battery Wise Pty
Limited held on Dec. 13, 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 Mr. Geoffrey Reidy
be appointed as Liquidator for such winding up.

Geoffrey Reidy
Liquidator
C/o Rodgers Reidy
Level 8, 333 George Street
Sydney NSW 2000


CARRIER ELECTRICAL: Members Opt for Voluntary Liquidation
---------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Carrier Electrical Services Pty Limited held on Dec. 15,
2005, it was resolved that the Company be wound up voluntarily,
and that Mr. Michael G. Jones of Jones Condon Chartered
Accountants, Level 13, 189 Kent Street, Sydney NSW, be appointed
as Liquidator for such purpose.

Dated this 16th day of December 2005

Michael G. Jones
Liquidator
C/o Jones Condon Chartered Accountants
Level 13, 189 Kent Street
Sydney NSW
Phone: 02 9251 5222


CARTER HOLT: Rank Unlikely to Complete Takeover
-----------------------------------------------
The recent rise in Carter Holt Harvey's share price has
reinforced speculation that the Rank Group is likely to fail in
its bid to secure full control of the forestry giant, Stuff.co
has learned.

Rank's founder Graeme Hart has spent over NZ$2.8 million
acquiring around 86 percent of the company in one of the largest
takeovers in New Zealand history.

However, Carter Holt shares rose 2cents to NZ$2.55 Tuesday,
5cents above Mr. Hart's offer price and the highest price since
shortly after Mr. Hart launched his bid in mid-August.

The offer is due to expire on Friday, although market players
believe Rank will extend the offer for the sixth time in a bid
to get the extra 3-4 per cent needed compulsorily acquire the
last 10 per cent.

Rank can keep the bid open until February, 150 days from the
offer's launch on September 14.

Tuesday's share price action indicates the bid is stalled and
Rank has picked up few shares since the last extension on
December 23.

A further extension is expected given Rank was so close to
compulsory acquisition.

CONTACT:

Carter Holt Harvey Limited
640 Great South Road
Manukau City, Auckland 1030
NEW ZEALAND  
Phone: +64 9 262 6000
Fax: +64 9 262 6099
Web site: http://www.chh.com


CEMENTATION SKANSKA: To Declare Dividend Jan. 14
------------------------------------------------
Cementation Skanska Australia Pty Limited will declare a first
and final dividend on Jan. 14, 2006.

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

Dated this 16th day of December 2005

Stuart Ariff
Liquidator
Stuart Ariff Insolvency Administrators
Phone: 02 4929 7880
Fax:   02 4929 7882,
Email: office@sariff.com.au
Web site: http://www.sariff.com.au


FARNO IMPORTS: Prepares to Close Shop
-------------------------------------
Notice is hereby given that at a meeting of Farno Imports (NSW)
Pty Limited held on Dec. 16, 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 Messrs. Peter
Rodgers and Daniel Civil be appointed as Joint Liquidators for
the winding up.

Daniel Civil
Peter Rodgers
Joint Liquidators
C/o Rodgers Reidy
Level 8, 333 George Street
Sydney NSW 2000


GOLDEN CHEF: In Critical Talks to Keep Business Alive
-----------------------------------------------------
Golden Chef is working on a solution to keep the business empire
afloat, The Advertiser reveals.

The troubled caterer's Managing Director, Pantelis
Charitopoulos, is set to meet financiers in Melbourne this week
in a last-ditch attempt to keep afloat the group of more than 80
companies and save up to 400 jobs.

Mr. Charitopoulos should know by today whether he has been
successful in securing funding to bail out the trouble company,
which owes more than AU$3.1 million to 170 creditors.

Last week, receivers SimsPartners sold off key parts of the
business after it failed to pay license fees payable under a
scheme set up to keep the company operating. SimsPartners
decided not to keep operating the businesses until their sale
but said a purchaser potentially could resurrect the food-
delivery business as the Golden Chef trademarks were also owned
by the companies it controlled.

The affected businesses included those that own the majority of
the firm's 226 catering vans in South Australia and Victoria.

Golden Chef was placed in administration in July after the
Australian Taxation Office took action over AU$300,000 in tax.

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/


GREENWOOD RESTAURANT: Members, Creditors Review Wind Up Report
--------------------------------------------------------------
Notice is given that a joint meeting of the members and
creditors of Greenwood Restaurant Pty Limited will be held on
Jan. 18, 2006, 10:00 a.m. at the offices of Smith Hancock
Chartered Accountants, Level 4, 88 Phillip Street, Parramatta
NSW 2150 to have an account laid before them showing the manner
of the Company's winding up and disposal of property, and to
hear any explanations that may be given by the Liquidator.

Dated this 7th day of December 2005

M. J. M. Smith
Liquidator
Smith Hancock Chartered Accountants
Level 4, 88 Phillip Street
Parramatta NSW 2150


GRICE CONSTRUCTIONS: Enters Voluntary Liquidation
-------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Grice Constructions Pty Limited held on Dec.
6, 2005, it was resolved that the Company be wound up
voluntarily, and Messrs. David G. Young and Anthony W. Elkerton
of Pitcher Partners, Level 3, 60 Castlereagh Street, Sydney NSW
were appointed as Joint Liquidators for such purpose.

Dated this 14th day of December 2005

Anthony W. Elkerton
David G. Young
Liquidator
Pitcher Partners
Level 3, 60 Castlereagh Street
Sydney NSW


G.R.&M.R. CONSTRUCTIONS: Court Appoints Official Liquidator
-----------------------------------------------------------
On Dec. 9, 2005, the Federal Court of New South Wales District
Registry appointed Mr. Christopher J. Palmer as Liquidator in
the winding up of G.R.&M.R. Constructions Pty Limited.

Dated this 27th day of December 2005

Christopher J. Palmer
Liquidator
O'Brien Palmer
Level 4, 23-25 Hunter Street
Sydney NSW 2000


JUST LASERS: Intends to Pay Dividend to Creditors
-------------------------------------------------
Just Lasers Pty Limited will declare a second dividend on Jan.
23, 2006.

Creditors whose debts or claims have not already been admitted,
are required to formally prove their debts or claims on or
before Jan. 23, 2006. In default thereof, they will be excluded
from the benefit of the dividend.

Dated this 1st day of December 2005

Dennis M. Foley
Liquidator
Dennis M. Foley & Associates
3rd Floor, Lydiard House
17 Lydiard Street North, Ballarat
PO Box 165, Ballarat 3353
Phone: 03 5331 2600 (8 Lines)
Fax:   03 5333 2713
Email: info@cooke-foley.com.au


LONORI PTY: Creditors OK Liquidator's Appointment
-------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Lonori Pty Limited held on Dec. 7, 2005, it was resolved that
the Company be wound up voluntarily, and that Mr. Sule
Arnautovic of Jirsch Sutherland Chartered Accountants be
appointed as Liquidator for such purpose.

Creditors confirmed the Liquidator's appointment at a creditors'
meeting held later that day.

Dated this 16th day of December 2005

Sule Arnautovic
Liquidator
Jirsch Sutherland Chartered Accountants
84 Pitt Street, Sydney NSW 2000
Phone: 02 9233 2111
Fax:   02 9233 2144


MOYREISK PASTORAL: Members Pass Winding Up Resolution
-----------------------------------------------------
At a general meeting of the members of Moyreisk Pastoral Co. Pty
Limited held on Dec. 16, 2005, the following special resolution
was passed:

That the Company be wound up voluntarily.

Dated this 16th day of December 2005

Frank Lo Pilato
Liquidator
RSM Bird Cameron Partners
Level 1, 103-105 Northbourne Avenue]
Turner ACT 2612
Phone: 02 9247 5988


PATHOLD NO. 203: Court Winds Up Firm
------------------------------------
On Dec. 12, 2005, the Supreme Court of New South Wales ordered
the winding up of Pathold No. 203 Pty Limited, and appointed Mr.
Geoffrey McDonald as the Company Liquidator.

Geoffrey McDonald
Liquidator
Hall Chadwick
Level 29, 31 Market Street
Sydney NSW 2000
Phone: 02 9263 2600
Fax:   02 9263 2800


PATRIOT PROTECTIVE: Schedules Final Meeting Jan. 18
---------------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of Patriot Protective Services Pty Limited will be
held on Jan. 18, 2006, 9:30 a.m. in the offices of PPB Chartered
Accountants, 10th Floor, 26 Flinders Street, Adelaide SA, for
the following purposes:

AGENDA

To receive the Liquidator's account showing how the Company was
wound up and its property disposed of, and to hear any
explanations thereof.

Dated this 1st day of December 2005

T. J. Clifton
M. C. Hall
Joint Liquidators
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000
Phone: 8211 7800


RIGNA PTY: Court Issues Winding Up Order
----------------------------------------
On Dec. 9, 2005, the Federal Court of Australia, New South Wales
District Registry ordered the winding up of Rigna Pty Limited,
and appointed Mr. Steven Nicols as the Company Liquidator.

Steven Nicols
Liquidator
Level 2, 350 Kent Street
Sydney NSW 2000


SABB CARPENTRY: Ozem Kassem Named Official Liquidator
-----------------------------------------------------
Notice is hereby given that at a meeting of the members and
creditors of Sabb Carpentry Pty Limited held on Dec. 12, 2005,
it was resolved that the Company be wound up voluntarily, and
that Mr. Ozem Kassem of Bentleys MRI Sydney, Business Recovery &
Insolvency Partnership, Level 8, 50 Carrington Street, Sydney
NSW, be appointed as Liquidator for such purpose.

Dated this 15th day of December 2005

Ozem Kassem
Liquidator
Bentleys MRI Syndney Business Recovery & Insolvency Partnership
Level 8, 50 Carrington Street
Sydney NSW
Phone: 02 8221 8477
Email: okassem@sydbri.bentleys.com.au


SANTOS LIMITED: Says Mutineer-Exeter Production to Resume
---------------------------------------------------------
Santos Limited expects production at its Mutineer-Exeter oil
field off the coast of Western Australia to restart within 24
hours, following its temporary closure on Monday as a precaution
ahead of cyclone Clare.

Reuters reported that facilities at the field incurred no damage
in the cyclone and that a rig that had been moved to safety was
expected back on-site later on Tuesday.

Santos said a further assessment of weather conditions would
then be made before ramping up production.

Tropical cyclone Clare hit the remote northwest Australian coast
early Tuesday, with fierce winds and heavy rain cutting power to
two towns that are the hub for the region's offshore gas and oil
industries.

CONTACT:

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


SOUTHERN BROS.: Set to Declare Final Dividend
---------------------------------------------
Southern Bros. Transport Pty Limited will declare a first and
final dividend on Jan. 23, 2006.

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

Dated this 8th day of December 2005

A. D'Aloia
Liquidator
D'Aloia Handberg Chartered Accountants
Level 10, 200 Queen Street
Melbourne Vic 3000


TOWER 720: Decides to Shut Down Operations
------------------------------------------
At a general meeting of the members of Tower 720 Pty Limited
held on Dec. 15, 2005, the following Special Resolutions was
passed:

That the Company be wound up voluntarily, and that Mr. Peter
Dawkins of Level 7, 276 Pitt Street, Sydney be appointed as
Liquidator for the winding up.

Dated this 16th day of December 2005

Peter Dawkins
Liquidator
Level 7, 276 Pitt Street
Sydney


TRADINGROOM PTY: Members Resolve to Wind Up Business
----------------------------------------------------
At a general meeting of the members of Tradingroom Pty Limited
held on Dec. 13, 2005, it was resolved that the Company be wound
up voluntarily.

Timothy James Cuming
David Clement Pratt
Liquidators
Level 15, 201 Sussex Street
Sydney NSW 1171


VIC PILE: Placed Under Voluntary Liquidation
--------------------------------------------
Notice is hereby given that at a general meeting of the members
of Vic Pile Pty Limited held on Dec. 12, 2005, it was resolved
that the Company be wound up voluntarily, and that Messrs.
Geoffrey Charles Ridgeway and Russell Graeme Peake, Chartered
Accountants and Registered Liquidators of Jenkins Peake & Co.,
1st Floor, Lexen Building, 200 Malop Street, Geelong, 3220, be
appointed as Joint and Several Liquidators in the Company's
winding up.

Dated this 15th day of December 2005

Russell G. Peake
Geoffrey C. Ridgeway
Joint Liquidators
Jenkins Peake & Co. Chartered Accountants
PO Box 1570, Geelong 3220
Phone: 03 5223 1000
Fax:   03 5221 4938


VOLANTE GROUP: Says Figures in Bidder's Statement are Wrong
-----------------------------------------------------------
Volante Group claimed Commander Communications has incorrectly
calculated figures in its bidder's statement, according to the
Sydney Morning Herald.

The IT services firm aired its complaint ahead of a board
meeting this week to discuss its response to Commander's AU$130-
million unsolicited takeover offer.

Volante is asking the Takeovers Panel to delay Commander sending
a formal offer to the former's shareholders until figures in the
bidder's statement are corrected.

Volante's board is due to meet on Thursday to discuss the offer,
although every indication so far suggests it will reject
Commander's hostile bid on the basis it does not represent value
for shareholders at AU$1.01 a share.

However, Commander has remained firm in its claims the cash
offer is fair.

Citigroup analysts have said that Commander will need to raise
the offer to about AU$1.20 a share to convince Volante's
shareholders to sell. Analysts at Deutsche Bank have described
the offer as "low-ball".

Volante's major shareholders have indicated they are unwilling
to accept the offer at its present price.

CONTACT:

Volante Group Limited
Binary Centre, Level 1, 3 Richardson Place,
Riverside Corporate Park,
NORTH RYDE, NSW,
AUSTRALIA, 2113  
Telephone: (02) 8870 2070  
Fax: (02) 8870 2139  
Web site: http://www.volante.com.au


WESTPOINT GROUP: ASIC Wants to Get Hands on Financial Documents
---------------------------------------------------------------
The corporate regulator is attempting to get its hands on
controversial documents from one of Westpoint Group's companies,
The Age reveals.

The Australian Securities and Exchange Commission (ASIC) has
launched a legal action against Westpoint Corporation to force
it to handover papers that might reveal what has happened to the
savings of 4000 investors caught in an AU$300 million property
financing web.

The watchdog claimed eight Westpoint companies defied orders
from ASIC investigators to submit documents relating to
development projects and related high-risk, high-interest
mezzanine schemes.

ASIC investigators have been trying to find information about
the shifting of investors between different Westpoint investment
schemes and identities of financial advisers who put their
clients' savings into Westpoint's mezzanine finance schemes.

ASIC lodged the legal actions with the Federal Court two days
before Christmas in order to force Westpoint to comply with a
compulsory notice issued to it.

Two of Westpoint's financing firms, Brisbane's Ann Street
Mezzanine and Sydney's York Street, are already in liquidation
amid an investigation into the company's dealings with investors
and network of supportive financial advisers.

ASIC has asked the Federal Court to probe why there has been a
failure to comply with orders relating to 17 Westpoint companies
or investment syndicates. The new allegations will go before
court on February 10.


ZEDENCO PTY: Members, Creditors to Receive Liquidation Report
-------------------------------------------------------------
Notice is hereby given that a final meeting of the members and
creditors of Zedenco Pty Limited will be held on Jan. 19, 2006,
9:30 a.m. in the offices of PPB Chartered Accountants, 10th
Floor, 26 Flinders Street, Adelaide SA, for the following
purposes:

AGENDA

To receive the Liquidator's account showing how the Company was
wound up and its property disposed of, and to hear any
explanations thereof.

Dated this 1st day of December 2005

M. C. Hall
Liquidator
PPB Chartered Accountants
10th Floor, 26 Flinders Street
Adelaide SA 5000
Phone: 8211 7800


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C H I N A  &  H O N G  K O N G
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ALRIGHT FAR EAST: Winding Up Process Initiated
----------------------------------------------
Alright Far East has received a notice of winding up order in
the High Court of the Hong Kong Special Administrative Region
Court of First Instance on December 28, 2005.

The company's registered office is at Rm 302 3rd Floor 7-13 Chiu
Lung Street Central, Hong Kong.

Date of Presentation of Petition: October 18, 2005

E T O'CONNELL
Official Receiver


BODY, MIND & SOUL: Court Releases Winding Up Order
--------------------------------------------------
Body, Mind & Soul Limited has received a notice of winding up
order in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on December 21, 2005.

The company's registered office is Unit 1017 10/F Star House No
3 Salisbury Road Tsim Sha Tsui Kowloon.

Date of Presentation of Petition: November 3, 2005

E T O'CONNELL
Official Receiver


BRILLIANCE CHINA: Chief Quits for Personal Reasons
--------------------------------------------------
Loss-making carmaker Brilliance China Automotive Holdings Ltd's
President and Chief Executive Lin Xiaogang has quit for personal
reasons and left the company on Friday, the South China Morning
Post reports.

Mr. Xiaogang was replaced by former Dalian Vice Mayor Qi Yumin,
an Engineer and the Chairman and President of Huachen Automotive
Group, the controlling shareholder of Brilliance.

Brilliance incurred a net loss of CNY299.48 million for the
first half of last year.

The Group is engaged in the manufacture and distribution of
minibuses under the JinBei brand, manufacture and sale of
automotive components.

CONTACT:

Brilliance China Automotive Holdings Limited
Suites 1602-05
Chater House
8 Connaught Road
Central Hong Kong  
Phone: 25237227
Fax: 25268472
Web site: http://www.brillianceauto.com/


CROWN FAVOUR: Court Orders Winding Up
-------------------------------------
Crown Favour Enterprises Limited has received a notice of
winding up order in the High Court of the Hong Kong Special
Administrative Region Court of First Instance on December 21,
2005.

The company's registered office is Unit 1102 11/F Houston Centre
63 Mody Road Tsimshatsui East Kowloon.

Date of Presentation of Petition: December 1, 2005

E T O'CONNELL
Official Receiver


HARVEY TECHNOLOGY: Prepares to Shut Down Operations
---------------------------------------------------
Harvey Technology Limited has received a notice of winding up
order in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on December 21, 2005.

The company's registered office is Rm 910 Tower A New Mandarin
Plaza No. 14 Science Museum Road, Tsim Sha Tsui East Kowloon.

Date of Presentation of Petition: October 26, 2005

E T O'CONNELL
Official Receiver


JANKY LIMITED: Receives Winding Up Order
----------------------------------------
Janky Limited has received a notice of winding up order in the
High Court of the Hong Kong Special Administrative Region Court
of First Instance on December 28, 2005.

The company's registered office is at Rm 1206 12/F Shun Tak
Centre West Wing 168-200 Connaught Road Central Hong Kong.

Date of Presentation of Petition: September 26, 2005

E T O'CONNELL
Official Receiver


LAPAGAYO LIMITED: Court Favors Liquidation
------------------------------------------
Lapagayo (Asia Pacific) Limited has received a notice of winding
up order in the High Court of the Hong Kong Special
Administrative Region Court of First Instance on December 21,
2005.

The company's registered office is Unit 06 2/F Tins Enterprises
Centre 777 Lai Chi Kok Road Cheung Sha Wan Kowloon.

Date of Presentation of Petition: October 28, 2005

E T O'CONNELL
Official Receiver


LEGEND STAR: Winds Up Business
------------------------------
Legend Star Limited has received a notice of winding up order in
the High Court of the Hong Kong Special Administrative Region
Court of First Instance on December 28, 2005.

The company's registered office is at Rm 2302 23/F Golden Centre
188 Des Voeux Road Central Hong Kong.

Date of Presentation of Petition: September 27, 2005

E T O'CONNELL
Official Receiver


RATONAL ELECTRONICS: Begins Winding Up Process
----------------------------------------------
Ratonal Electronics Limited has received a notice of winding up
order in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on December 28, 2005.

The company's registered office is at Rooms 1116-1117 11/F New
Commerce Centre 19 On Sum St Siu Lek Yiu Shatin New Territories.

Date of Presentation of Petition: September 12, 2005

E T O'CONNELL
Official Receiver


SEEKERS LIMITED: Set to Close Business
--------------------------------------
Seekers Limited has received a notice of winding up order in the
High Court of the Hong Kong Special Administrative Region Court
of First Instance on December 21, 2005.

The company's registered office is 3rd Floor Regent Centre 88
Queen's Road Central Hong Kong.

Date of Presentation of Petition: October 28, 2005

E T O'CONNELL
Official Receiver


SOUTH AMERICA INTERNATIONAL: Ordered to End Operations
------------------------------------------------------
South America International Frozen Sea Floor Lucky House 18-24
Jordan Road Kowloon has received a notice of winding up order in
the High Court of the Hong Kong Special Administrative Region
Court of First Instance on December 21, 2005.

The company's registered office is Rm E 8th Floor Lucky House
18-24 Jordan Road Kowloon.

Date of Presentation of Petition: November 1, 2005

E T O'CONNELL
Official Receiver


WISEWAYS INVESTMENT: Winding Up Process Begins
----------------------------------------------
Wiseways Investment Limited has received a notice of winding up
order in the High Court of the Hong Kong Special Administrative
Region Court of First Instance on December 28, 2005.

The company's registered office is at Rm 2510 25th Floor, 113
Argyle Street Mongkok Kowloon.

Date of Presentation of Petition: November 3, 2005

E T O'CONNELL
Official Receiver


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FOOD CORPORATION: CBI Raids Officials' Offices Over Rice Scam
-------------------------------------------------------------
The Central Bureau of Investigation (CBI) conducted raids at 11
places on Food Corporation of India (FCI) in four states for
allegedly procuring low standard rice and causing a loss of INR
320 crore to the exchequer, according to New Kerala.com

The searches, conducted at seven places in Punjab and one each
in Chandigarh, Bihar, Uttar Pradesh and Andhra Pradesh, were
carried out after the agency registered three cases against
these officials, including IAS officer K Shiva Prasad, posted as
FCI's senior regional manager.

The CBI alleged that certain officials of FCI had procured sub-
standard rice, which could not be distributed among the people
in Punjab.

The Time of India reported that the cases were registered
following complaints from different states where the rice of
inferior quality was dispatched from Punjab. Sub-standard rice
was allegedly procured from various millers in the state during
the 2004-05 kharif season.

The Food Corporation of India was set-up to meet the challenge
of managing the complex task of providing food security for the
nation. Its task involves maintaining regular supply of wheat
and rice right through the year.

FCI is the premier organization in charge of food security in
India. The objectives include, effective price support
operations for safeguarding the interests of the farmers,
distribution of foodgrains throughout the country for public
distribution system, maintaining satisfactory level of
operational and buffer stocks of foodgrains to ensure National
Food Security.

On December 24 last year, premises of Registrar of Cooperative
Societies (RCS) officials were raided in CGHS housing scam. The
CBI raided six places in Delhi and Gurgaon of 11 RCS official
blamed for forging and fabrication of documents to revive
Cooperative Group Housing Societies.

CONTACT:

Food Corporation of India

North Zone
A-2a,2b Sector -24
Noida - 201301

East Zone
10A, Middleton Row,
Kolkata - 700071
Phone: 2229-8928 / 8742 / 8723 / 8754,
2246-2559 / 2562
E-mail: zmeast@fci.delhi.nic.in

South Zone
Zonal Office 3, Haddows Road,
Chennai - 600 006
Phone : +91-44-28276423, +91-44-28276463
Fax : +91-44-28276623

Web site: http://fciweb.nic.in/


GANESH BANK: RBI Unveils Amalgamation Scheme with Federal Bank  
--------------------------------------------------------------
The Reserve Bank of India has placed in public domain a draft
scheme of amalgamation of the Ganesh Bank of Kurundwad Limited
with the Federal Bank Limited.

The Reserve Bank has invited suggestions and comments from
members of public, including the banks' shareholders, depositors
and creditors on the draft scheme. The draft scheme has also
been sent to both the banks.

Both the banks have been given two weeks' time, up to January
21, 2006, to consider the draft scheme. The suggestions and
comments would be received by both the banks and the Reserve
Bank up to Saturday, January 21, 2006. The Reserve Bank will
take a view on the future set up of Ganesh Bank soon thereafter.

It may be recalled that the Ganesh Bank of Kurundwad Ltd. was
placed under an order of moratorium on January 7, 2006. The
order is effective up to April 6, 2006 or an earlier date if
alternate arrangements are in place. The Reserve Bank was to
decide the future set up of the Ganesh Bank of Kurundwad Ltd.
during the period of moratorium.

The Ganesh Bank of Kurundwad was taken under moratorium after
being given time to arrange for infusion of capital as also to
explore other options for its future set up. Due to the
continued inability of Ganesh Bank to raise the required
capital, the Reserve Bank of India had to exercise the option of
compulsory merger available to it under Section 45 of the
Banking Regulation Act, 1949.

The Reserve Bank received interest for taking over the Ganesh
Bank of Kurundwad Ltd. from the Federal Bank Ltd. The Federal
Bank has, among other things, proposed to pay the depositors
fully. The Reserve Bank has examined the proposal received from
the Federal Bank keeping in view its financial parameters,
retail network and synergies as well as strategic advantages.
Taking into account the interest of depositors of the Ganesh
Bank of Kurundwad Ltd. as well as the bank's strengths and
weaknesses, the Reserve Bank has prepared a draft scheme of
amalgamation of the Ganesh Bank of Kurundwad Ltd. with the
Federal Bank Ltd.

CONTACT:

The Ganesh Bank of Kurundwad Ltd.
Laxmi Road, Near Jain Basti
Taluka Shirol
Kurundwad
Kohlapur- 416 106
Phone: 02322- 44213

Reserve Bank of India
Central Office, Post Box 406
Mumbai 400001
Phone: 2266 0502
Fax: 2266 0358, 2270 3279
E-mail: helpprd@rbi.org.in  
Web site: http://www.rbi.org.in


SHIVA CEMENT: Board to Discuss Equity Issue, Transfer of Shares
---------------------------------------------------------------
Shiva Cement Ltd has informed Bombay Stock Exchange (BSE) that a
meeting of the Board of Directors of the Company will be held on
January 16, 2006, inter alia, to transact the following:

1. To consider, discuss and approve issue of equity shares to
financial institutions and other on Preferential allotment
basis.

2. To approve transfer of shares, if any.

CONTACT:

Shiva Cement Limited
P - 25, Civil Town Ship
Rourkela 769004  
Orissa  
Phone: 2400080 2400168 2400828   
Fax: 2400172  


SOUTH INDIAN: RBI May Scrap License
-----------------------------------
The Reserve Bank of India (RBI) is likely to cancel the license
of troubled South Indian Co-operative Bank (SICB) after Saraswat
Saraswat Co-operative Bank withdrew its earlier offer to
administrate the bank, reports Financial Express.

However, the RBI will still carefully revue the move since a
third of the bank's depositors, who hold deposits in excess of
INR1 lakh, would lose all money upon liquidation of the bank.
These deposits are not insured by the Deposit Insurance and
Credit Guarantee Corporation (DICGC). Of the total INR240 crore
worth deposits, INR90 crore fall under the category.

A senior official of the RBI said, "Canceling the license of
SICB seems to be the only option left now, as we have already
exhausted all the other options to revive this bank, including a
merger, a potential capital infusion by the DICGC and appointing
an independent administrator."


SOUTH INDIAN: Board Meeting Fixed Jan. 18
-----------------------------------------
South Indian Bank Ltd announced that a meeting of the Board of
Directors of the Bank will be held on January 18, 2006, inter
alia, to consider the following:

1. To take on record the Unaudited Financial Results of the Bank
for the quarter ended December 31, 2005.

2. To fix a Cut-off date for the purpose of taking out the list
of shareholders eligible to apply in the Public Issue under the
Shareholders Reservation Portion.


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

DIRGANTARA INDONESIA: Urges Government to Purchase Aircraft
-----------------------------------------------------------
State aircraft manufacturer PT Dirgantara Indonesia (DI) has
asked the government to follow the custom of other countries in
buying a presidential aircraft made by the Company, reports Asia
Pulse.

PT DI Acting President M. Nuril Fuad made the request to
President Susilo Bambang Yudhoyono during the state visit in the
company's factory on Jan. 3.

Mr. Fuad urged the government to purchase aircraft manufactured
by PT DI to enable the Company to stay afloat. He added that
despite its financial troubles, the Company still received
orders from neighboring Asian countries such as Malaysia, South
Korea and Thailand.

President Yudhoyono did not promise to buy an airplane from PT
DI, but he did commit to assisting the Company avoid bankruptcy
in asking the government to support state firms by buying their
products.

CONTACT:

PT Dirgantara Indonesia
Jl. Pajajaran no. 154 Bandung 40174,
Indonesia
Phone: 62-22-6034562, 62-22-6010754, 62-22-6010759
Fax:   62-22-6019538, 62-22-6075671, 62-22-6031696
E-mail: infosales@indonesian-aerospace.com
Web site: http://www.indonesian-aerospace.com


GARUDA INDONESIA: Lufthansa Not Interested in Buying Stake
----------------------------------------------------------
Contrary to earlier reports that German airline Lufthansa was
interested in forming a strategic alliance with troubled state
carrier PT Garuda Indonesia, a spokeswoman for the airline said
that they have to plans to buy a stake, Dow Jones reports.

Secretary to the Minister of State Enterprises Muhammad Said
Didu had said that major airlines such as KLM Royal Dutch
Airlines, Lufthansa and Thai Airways had expressed interest in
acquiring a stake in the Company, though nothing was made
official.

A spokeswoman for Lufthansa clarified that the German airline is
not interested in buying a stake in Garuda Indonesia, and is not
currently in talks with the Company.

It was earlier reported that the government was looking to sell
a 49% stake in the Company in order to repay its debts and
increase working capital; however, the government would still
own a controlling 51% stake in Garuda.

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


MERPATI NUSANTARA: To Fly to Remote Areas
-----------------------------------------
State airline PT Merpati Nusantara Airlines (MNA) provided nine
Twin Otter airplanes to serve pioneer routes in remote
destinates in Indonesia, reports Asia Pulse.

According to MNA Managing Director Hotasi Nababan, the Company's
planes will fly to destinations in Maluku, Nusa Tenggara, Papua
and Sulawesi, in order to hasten the development of these remote
areas. The opening of the new flight routes are expected to
benefit the people from these islands.

Despite the small revenues from these pioneer routes, the
Company is determined to help the local people of these areas.

It would cost up to IDR79 billion to open the planned routes,
which would be partly financed by a government loan. The planes
will begin flying to the pioneer routes next month.

CONTACT:

Merpati Nusantara Airlines
PO Box 323, Jln. Angkasa
Block 815 Kav 2-3
Jakarta 10720 Indonesia
Phone: +61 (0) 8 8941 1606
Fax:   +62 21 654 6789
Web site: http://www.merpati.co.id


PERUSAHAAN LISTRIK: Urged to Use Gas as Energy Source
-----------------------------------------------------
The government has asked state power firm PT Perusahaan Listrik
Negara (PLN) to use gas instead of fuel as its energy source,
Asia Pulse reports.

According to PLN President Director Eddie Widiono, Vice
President Jusuf Kalla asked the Company to use gas as an energy
source in order to cut costs in electricity
generation/production.

PLN has started operating a gas-generated power plant in Jambi,
and Vice President Kalla has urged the Company to coordinate the
operations of its other gas-generated plants.

With fuel consumption reaching 30% of total energy for PLN in
2005, the Company aims to lower its dependence on fuel to 18%
this year, and increase its coal consumption to 43%, gas to 24%,
hydropower to 10% and geothermal energy to 5%.

Mr. Widiono did not comment on whether basic power rates would
be raised, saying only that the issue would be discussed in a
ministerial meeting later.

CONTACT:

PT Perusahaan Listrik Negara (Persero)
Jl. Trunojoyo Blok M-1 No. 135, Kebayoran Baru
Jakarta, 12160, Indonesia
Phone: 62 21 725 1234
Fax:   62 21 722 1330
Web site: http://www.pln.co.id


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J A P A N
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JAPAN AIRLINES: Ups Order for Boeing Jets
-----------------------------------------
Boeing and Tokyo-based Japan Airlines International Co., Ltd.
(JAL) announced that JAL is increasing the number of 747-400
Boeing Converted Freighters it has on order to eight, with an
additional four options.

JAL first ordered the 747-400 BCF in October 2004, signing up
for three firm modifications and four options. With today's
announcement, the four options became firm orders and JAL also
added one more firm order and four more options. The value of
the order agreement will not be released.

The first JAL 747-400 BCF entered modification at Taikoo
(Xiamen) Aircraft Engineering Co. (TAECO) in Xiamen, China, in
December 2005. It will be delivered back to the airline in May.

This agreement brings the total number of 747-400 BCF orders to
37 with 29 options since the program's launch in January 2004.

"Japan Airlines has already demonstrated its commitment to
Boeing's 747-400 conversion program, and this additional order
is an affirmation of the many benefits this airplane offers,"
said Dan da Silva, vice president of sales and marketing for
Boeing Commercial Aviation Services. "We are thrilled to see
such a valuable customer -- a respected, trend-setting industry
player -- recognizing the additional value they can gain by
adding to an already significant order."

Boeing offers the industry's most complete line of commercial
freighter airplanes, including the recently launched 747-8
Freighter, the 747-400 factory-built freighter, the 777
Freighter, the 767 Freighter and the 737-700C convertible
freighter. The 747 freighter family provides more than half of
the world's dedicated freighter capacity, and Boeing freighters,
in all, provide more than 90 percent of global freighter
capacity.

Boeing Commercial Aviation Services offers customers reliable
conversion-based engineering and certification expertise.
Customers may choose and incorporate support packages during
freighter conversions, including avionics and flight-deck
upgrades, customized maintenance programs and integration of
technical manuals.

As of June, 2005, JAL serves some 206 airports in 34 countries
with approximately 270 airplanes, including Boeing 747, 777, 767
and 737 models. JAL ordered 30 Boeing 787 Dreamliners, four 767-
300 Freighters and 30 Next-Generation 737-800 airplanes last
year.

This is a company press release.

CONTACT:

Japan Airlines Corporation Company
2-4-11, Higashi-shinagawa, Shinagawa-ku
Tokyo 140-8605, Japan  
Phone: +81-0120-25-5931


MITSUBISHI MOTORS: Wants 1-2% U.S. Market Share
-----------------------------------------------
Mitsubishi Motors Corporation is aiming for U.S. market share of
around 1-2 percent, a goal designed to secure stable profit in
North America, according to Reuters.

The struggling automaker saw its U.S. sales plunge 23 percent in
2005 to 123,995 units, giving it a share of just 0.7 percent --
down from a peak a few years ago of nearly 2 percent.

Mitsubishi Motors needs to revive its North American operations
-- a cash cow for most of its domestic Japanese competitors --
to nurse its overall balance sheet back to health.

For the year to March 31, Mitsubishi's only unprofitable
carmaker is expecting a net loss of JPY64 billion. In November,
it kept its global sales target at 1.37 million vehicles for the
business year, but with a lowered forecast in North America
citing an uncertain U.S. market.

CONTACT:

Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo 108-8410, Japan  
Phone: +81-3-6719-2111
Fax: +81-3-6719-0059


MITSUBISHI MOTORS: Introduces Concept-CT, MIEV Hybrid Vehicles
--------------------------------------------------------------
Mitsubishi Motors North America (MMNA) unveiled at the North
American International Auto Show the Concept-CT, a
groundbreaking concept for a hybrid-powered small car that may
influence development of future "Driven to Thrill" Mitsubishi
models.

Designed at the Mitsubishi Motors Design Center in Cypress,
Calif., the Concept-CT introduces an innovative hybrid
powertrain packaged in an entirely new type of vehicle
architecture.  The ultra-compact four-door hatchback captures
the essence of the Mitsubishi brand while combining
practicality, fun-to-drive performance and low fuel consumption.

The key to the Concept-CT's roomy packaging, performance
potential and fuel efficiency is the Mitsubishi In-wheel
Electric Vehicle (MIEV) hybrid powertrain, which employs an
electric motor in each of the vehicle's four wheels.

"The Concept-CT is a breakthrough vehicle that demonstrates how
Mitsubishi might interpret its 'Driven to Thrill' core
philosophy with the increasing demands for higher fuel
efficiency and environmental compatibility," said MMNA President
and CEO Rich Gilligan.  "We are carefully studying ideas
showcased in this innovative concept car."

Mitsubishi Signature Design With An Accent on the Future

Although clearly echoing the Mitsubishi "DNA" also seen in the
high-performance Concept X from the 2005 Tokyo Motor Show, the
Concept-CT's sharp, expressive lines are intended to convey a
more casual performance character.  The overall design theme was
inspired by the sleek high-performance scooters popular in
Japanese urban centers -- and gaining popularity in the United
States.

The Concept-CT's 102.4-inch wheelbase falls between today's sub-
compact and compact models.  However, the 149.6-inch length
makes the Concept-CT even better suited to congested urban
environments.  The long wheelbase relative to vehicle length,
combined with 20-inch wheels that are thrust out to the corners,
yields a stable, forceful stance while maximizing interior
space. Candy yellow-orange paint, with copper and grey accents,
underscores the Concept-CT's advanced powertrain and overall
futuristic orientation.

Unique design elements combine high-tech style with function.  
The LED head lamps and tail lamps are designed to appear as if
their light emanates from a single source rather than multiple
bulbs.  A large, wraparound panoramic windshield provides
excellent front visibility.

The rear doors open butterfly-style without a center pillar to
provide maximum interior access.  Also contributing to the
design's practicality, the rear hatch is split horizontally,
featuring an upper glass hatch and a lower tail gate for ease of
loading.

New Vehicle Architecture Shows Future Possibilities for Small
Cars

Early on, the Mitsubishi Concept-CT designers disregarded
current vehicle architecture and created a whole new type of
small car platform that could take full advantage of the MIEV
powertrain's numerous benefits.  A rear-midship layout places
the gasoline engine behind the rear passengers but ahead of the
rear axle line.  This same configuration can be found in some of
the world's best sports cars because it allows for optimum
weight distribution, low center of gravity and a small yaw-
inertia moment (quick steering response).

With room freed up by the lack of a center differential,
driveshaft to the front and front-wheel halfshafts, designers
were able to locate vital components to optimize both safety and
weight distribution.  The rear-midship layout allows for a large
frontal crush zone and greatly reduces the potential for engine
intrusion into the cabin in a collision.  Batteries are housed
under the rear floor and in the front of the vehicle.  The fuel
tank is housed under the front floor.

MIEV Powertrain Hints at High-Tech Mitsubishi Future

Mitsubishi is actively developing its MIEV technology to address
future demands for improved fuel efficiency and reduced
emissions, without sacrificing driving performance and fun.  The
series/parallel hybrid drive in the Concept-CT uses a special
transmission to harness the 50 kW (67 horsepower) output of a
1.0-liter three-cylinder gasoline engine to drive the rear
wheels and the generator.  Engine power is 20kW per wheel.  A 40
kW (54 horsepower) generator charges high-energy-density,
lithium-ion batteries to offer high capacity and long life.  
Total combined peak power is 100kW (134 horsepower).

The MIEV system provides both economical cruising capability and
high capacity power for short bursts of acceleration when
needed.  A regenerative brake system captures energy that would
otherwise be lost as heat through the brake discs and channels
it to the batteries.

Each of the Concept-CT's wheels houses an electric motor,
effectively providing computer-controlled all-wheel drive (AWD)
that can transfer optimal traction independently to each tire as
needed.  Such individual wheel control opens up new
possibilities to enhance vehicle stability and performance.

In addition to a gasoline-electric hybrid powertrain featured in
the Concept-CT, MIEV technology can be applied to pure battery
electric vehicles and fuel cell electric vehicles to suit a wide
variety of world market needs and infrastructures in the future.  
Mitsubishi is testing a MIEV powertrain in the Lancer Evo MIEV
rally car acclaimed at the 2005 Tokyo Motor Show as an
environmentally conscious, high-performance vehicle.

Adventurous Yet Practical Interior

The Concept-CT interior design is as adventurous as the
exterior, starting with structural elements that also serve as
design elements.  The main controls take inspiration from
motorcycle front forks and controls and are supported by a
structure fashioned in parallel strips.  For a clean, modern
image, the interior features pearl finish, ribbed vinyl and
soft-touch surfaces with copper accents.

The Concept-CT instrument panel is unlike anything seen in
current vehicles.  A wide format "wall to wall" screen displays
information for navigation, rear/side-view mirror functions, and
entertainment functions (when in park).  Flat-screen gauges are
placed well forward of the driver for optimal visibility.  In
addition, a flat screen in the center panel displays climate
control and audio information.  Reflecting Concept-CT's
futuristic theme, the ultra-thin center console houses a
fingerprint-reading security key and computer touch pad
interface.

A flat floor and "floating" seats for four provide an open
feeling and interior flexibility.  The contoured bench-style
seats are designed for superior support while providing ease of
entry and egress.  The front passenger seatback and rear
seatbacks fold flat to carry long loads.  Rear seat cushions
fold up with the seatback in the upright position to load tall
items through the side doors.  Concept-CT provides additional
storage under the front hood.

This concept provides a vision into the future of advanced
hybrid technology in a fun and futuristic design.  Mitsubishi
Motors' Lancer Evolution MIEV is currently under testing in
Japan -- with a goal to bring a MIEV model, built around core
technologies of in-wheel motors and high density lithium-ion
batteries, to market by 2010.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of Mitsubishi Motors Corporation in the
United States.  Mitsubishi Motors currently sells coupes,
convertibles, sedans, trucks and sport utility vehicles through
a network of approximately 570 dealers.  For more information,
contact the Mitsubishi Motors News Bureau at (888) 560-6672 or
visit http://media.mitsubishicars.com.

Mitsubishi Concept-CT Major Specifications:

    Wheelbase:           2600 mm (102.4 in.)
    Length:              3800 mm (149.6 in.)
    Width:               1700 mm (66.9 in.)
    Height:              1430 mm (56.3 in.)
    Engine:              1.0 liter 3 cylinder, gasoline
    Engine power:        50kW
    Generator power:     40kW
    Battery power:       50kW
    Motor power:         80kW (20kW X 4)
    Total peak power:    100kW

CONTACT:

Mitsubishi Motors North America Inc.
Address:  6400 Katella Ave.
Cypress, CA 90630-0064  
Phone: 714-372-6000
Fax: 714-373-1020


MITSUBISHI MOTORS: Unveils Lineup at '06 International Auto Show
----------------------------------------------------------------
Mitsubishi Motors Corporation (MMC) and its manufacturing and
sales unit in the United States, Mitsubishi Motors North
America, Inc. (MMNA, based in Cypress California) will give the
Mitsubishi Concept-CT[1] MIEV[2] 4WD sport compact concept and
the new Eclipse Spyder convertible their world premieres at the
2006 North American International Auto Show (Detroit Motor
Show). Mitsubishi Concept-CT MIEV uses outer rotor type in-wheel
motors and a lithium-ion battery system to drive all four
wheels, together with a gasoline engine in a hybrid
configuration. The 2006 NAIAS runs from January 8 to 22 at the
Cobo Center in Detroit and is open to the general public from
January 14.

MMNA President and CEO Hiroshi Harunari, who took up his new
post on January 1, made the following remarks at a press
conference held at the show on January 9. "The size and
potential of the American market makes it one of our most
important markets. In Mitsubishi Motors' drive toward success on
a global scale it is vital that we continue to rebuild and
improve the sales and profitability of our operations in this
market. To put the U.S. operations back on a healthy foundation,
last year we called upon the leadership of Rich Gilligan and his
fine team to promote the rebuilding of the Mitsubishi brand and
the enhancement of our sales performance. Sales operations are
being normalized and profitability improved through a process of
introducing new models, curtailing fleet sales, and reducing
inventory levels. Offering appealing sales finance products to
customers is another profitability improving policy this is
being implemented. It is clear that these steps are starting to
pay dividends.

However, the impact of high oil prices has led to increasing
uncertainty in the U.S. market, especially for the automotive
industry. For this reason, the relationship between MMC and MMNA
has been strengthened to allow for more flexibility in
responding to market changes. The company will continue to take
steps to normalize sales operations, raise operating
efficiencies and increase profit opportunities by actively
promoting exports from MMNA's Illinois factory to other markets.
Management of both companies are committed to working together
to improve operations in North America and to accelerate
implementation of existing policies and introduction of more
detailed measures."

MMC and MMNA are displaying a total of 11 models including
Mitsubishi Concept-CT MIEV and Eclipse Spyder, most of which are
produced in the United States.

1. Mitsubishi Concept-CT MIEV walkaround

A concept for a new kind of sports compact that captures the
essence of the Mitsubishi Motors brand as it combines driving
pleasure with low fuel consumption.

(1) Exterior highlights

Using the same rear-midship layout as the new i minicar to be
launched in Japan this month, the wheels on Mitsubishi Concept-
CT MIEV have been moved to the corners of the vehicle yielding a
stable and forceful looking stance within a compact 3800 mm
length.

The overall design theme was inspired by the large scooters
popular today. Mitsubishi Concept-CT MIEV's geometric lines
impart an architectural look in creating a shape that promises
to wrap its occupants in safety and comfort.

With no center pillars, double opening doors (with rear door
hinges located in the rear portion of the body) allow enhanced
entry and exit.

(2) Interior highlights

The instrument panel incorporates a new system wide-format
screen stretching from driver's seat to passenger's seat that
can display speedometer and fuel readings, on-board navigation
and climate control information, entertainment functions and
rear/side view mirror images all at the same time.

The center console houses a computer touch pad-like interface in
a simple configuration to give the driver easy ergonomic access
to climate and audio controls.

The seats use a simple, ultra-slim design to emphasize their
lightweight. The front passenger seatback and rear seatbacks
fold flat and together with the double opening doors and split-
tailgate significantly enhance Mitsubishi Concept-CT MIEV's load
carrying ability.

(3) Hybrid powertrain system

Mitsubishi Concept-CT MIEV is the first vehicle to apply a
hybrid drive system to the Mitsubishi Motors' MIEV next-
generation electric vehicle concept that utilizes in-wheel
motors and high energy-density lithium-ion batteries as core
technologies. Features include:

A series-parallel hybrid drive system that delivers higher power
and an extended cruising range.

A new 1.0-liter 3-cylinder MIVEC[3] engine (generator) that
produces a maximum of 50 kW (68 ps).

A lithium-ion battery system with a 50 kW maximum output housed
under the rear seats and under the front hood.

Outer rotor type in-wheel motors, developed first for Lancer
Evolution MIEV, are fitted to all four wheels, producing a
maximum power of 20kW each. The system allows drive power and
braking to be independently regulated with high precision at
each wheel and thereby capitalize on Mitsubishi Motors' hallmark
all-wheel control technology and know-how to a maximum
advantage. The result is a high-performance hybrid vehicle that
delivers not only high levels of environmental performance, but
also power and driving performance superior to that in
conventional gasoline vehicles.

2. Eclipse Spyder walkaround

Eclipse Spyder is the open-top model for the new fourth
generation Eclipse coupe, which was introduced in 2005 and is
acclaimed for its sporty, dynamic styling. Eclipse Spyder is the
third generation open-top model. Eclipse Spyder is offered in
two trim levels: the GT and the GS powered by 3.8-liter V6 and
2.4-liter 4-cylinder MIVEC engines respectively.

(1) Design highlights

Eclipse Spyder uses sleek, taut and muscular lines to create a
shape that is cool and aggressive whether the cloth top is up or
down.

Large-sized headlamps crafted to flow into the bodylines, and
chrome-look LED tail lamps distinguish the exterior and generate
a sporty appearance with a strong sophisticated flavor.
Using an instrument panel that houses distinctive motorcycle-
inspired gauges and ice-blue night illumination for better
legibility, the interior styling projects the cool image and
creates the feel-good space that convertible owners look for.
(2) Engine, transmission, and brakes

The Eclipse Spyder GT mates a 3.8-liter V6 MIVEC engine to
either a six-speed manual transmission or a sport-mode equipped
five-speed automatic. Pumping out a maximum of 195 kW (260 ps)
and 35.7 kg-m (350 N-m) of torque, the Spyder GT accelerates
from zero to 60 mph (zero to 96 km/h) in about seven seconds.
The Eclipse Spyder GS mates a 2.4-liter in-line 4-cylinder MIVEC
engine to either a five-speed manual transmission or a sport-
mode equipped four-speed automatic. Producing a maximum power of
119kW (162ps), the Spyder GS returns excellent fuel efficiency,
rated to achieve 30 mpg (12.7 km/liter) in highway driving by
EPA testing standards.

The GT employs 4-wheel disc brakes, while the GS uses a drum-in-
disc system for the rear brakes.

(3) Trim & equipment

In a premium-level design that enhances its appearance and
convenience, the third-generation Eclipse Spyder features an
automatic soft top which smoothly folds completely out of sight
under a flush-fitting hydraulic powered tonneau panelin about 19
seconds.

Both GT and GS trim levels come standard with 17-inch alloy road
wheels, air conditioning, an advanced dual-stage driver and
passenger seat SRS air bag system, head protecting seat-mounted
side air bags, an anti-lock brake system (ABS) with electronic
brake-force distribution (EBD[4]), cruise control, engine
immobilizer and keyless entry.

Featured in Eclipse launched last year and in Outlander sold in
Japan, a highly acclaimed audio system was co-developed with
Rockford Fosgater a leading American car audio system
manufacturer. This premium audio system features a 650 Watt
power amp with a six-disc, in-dash CD changer that can also play
MP3 files.

For the Eclipse Spyder, this system features a subwoofer center-
mounted under the rear seat. It provides unique automatic sound
adjustment and equalization for the different sound conditions
under top-up or top-down driving.

Leather seating surfaces, heated front seats and heated exterior
mirrors together with outside temperature and compass displays
standard on the GT are available as options on the GS.

GT is available with a premium package that features 18-inch
alloy wheels with 235/45 R18 tires, a six-way power driver's
seat, aluminum pedals and an automatic climate control system.

CONTACT:

Mitsubishi Motors Corporation Company
Address:  2-16-4 Konan, Minato-ku
Tokyo 108-8410, Japan  
Phone: +81-3-6719-2111
Fax: +81-3-6719-0059


PIONEER CORPORATION: Enters Into License Agreement With Acacia
--------------------------------------------------------------
Acacia Research Corporation announced that IP Innovation, LLC,
AV Technologies, LLC, and New Medium Technologies, LLC, all
wholly owned subsidiaries that are part of the Acacia
Technologies group, have entered into a license agreement with
Pioneer Corporation covering patents that apply to Audio/Video
Enhancement and Synchronization, and Image Resolution
Enhancement technologies.

The Audio/Video Enhancement and Synchronization technologies
generally relate to the use of a noise reduction filtering
system for digital video compression, and for video and audio
signals received by digital radios and video displays. Other
aspects of the technologies apply to the synchronization of
audio/video signals. The Image Resolution Enhancement Technology
generally relates to the modification of a video or printed
display to improve the perceived image quality beyond the basic
pixel resolution of the display.

ABOUT ACACIA RESEARCH CORPORATION

Acacia Research Corporation comprises two operating groups,
Acacia Technologies group and CombiMatrix group.

The Acacia Technologies group develops, acquires, and licenses
patented technologies. Acacia controls 38 patent portfolios,
which include over 140 U.S. patents, and certain foreign
counterparts, covering technologies used in a wide variety of
industries including audio/video enhancement & synchronization,
broadcast data retrieval, computer memory cache coherency,
credit card fraud protection, database management, data
encryption & product activation, digital media transmission
(DMT(R)), digital video production, dynamic manufacturing
modeling, enhanced Internet navigation, hearing aid ECS, image
resolution enhancement, interactive data sharing, interactive
television, laptop docking station connectivity, microprocessor
enhancement, multi-dimensional bar codes, network data storage,
resource scheduling, rotational video imaging, spreadsheet
automation, user activated Internet advertising and web
conferencing & collaboration software.

The CombiMatrix group is developing a platform technology to
rapidly produce customizable arrays, which are semiconductor-
based tools for use in identifying and determining the roles of
genes, gene mutations and proteins. The CombiMatrix's group's
technology has a wide range of potential applications in the
areas of genomics, proteomics, biosensors, drug discovery, drug
development, diagnostics, combinatorial chemistry, material
sciences and nanotechnology.

Acacia Research-Acacia Technologies (Nasdaq:ACTG) and Acacia
Research-CombiMatrix (Nasdaq:CBMX) are both classes of common
stock issued by Acacia Research Corporation and are intended to
reflect the performance of the respective operating groups and
are not issued by the operating groups.

Information about the Acacia Technologies group and the
CombiMatrix group is available at www.acaciaresearch.com.

CONTACT:

Pioneer Corporation
Headquarters 1-4-1
Meguro, Meguro-ku
Tokyo, 153-8654 Japan
Telephone: +81-3-3494-1111  


SANYO ELECTRIC: Wins CNET Best of CES Award
-------------------------------------------
Sanyo's pocket-sized Xacti HD1 High-Definition Digital Media
Camera has received a prestigious CNET Best of CES Award in the
Digital Photo and Video category. The Best of CES Awards were
produced and judged by CNET, who announced the winners Saturday,
January 7, at the 2006 International Consumer Electronics Show
(CES) in Las Vegas.

Selected by CNET's unbiased, expert editors, winners were
recognized as the hottest products in their respective
technology categories for their unmatched innovation and
creativity, and their ability to excite consumers and make their
way into everyday life. CNET's editors received and reviewed
hundreds of entries, and combed the CES show floor for products
to consider for the prestigious award.

"By winning a CNET Best of CES Award, SANYO sets a standard
within their sector for others to follow," said Brian Cooley,
editor at large at CNET.com. "Each year at CES, CNET scours the
show floor to bring extensive coverage to our passionate
community of consumers, who look to our editors for the best new
products at the show, and the Xacti HD1 High-Definition Digital
Media Camera is without doubt one of the hottest products at CES
2006."

The SANYO Xacti HD1 High-Definition Digital Media Camera is
designed to easily record both 720p high-definition video and
5.1 megapixel digital still images to a standard SD flash memory
card. The HD1 features a 10x optical zoom lens, 2.2 inch OLED
(Organic Light-Emitting Diode) display, 16:9 native widescreen
format, rapid continuous shooting, anti-shake digital image
stabilization and can record up to 21 minutes of high-definition
content per gigabyte of memory. The SANYO Xacti HD1 will be
available in the US in March at an MSRP of $799.99*

The HD1 is available for pre-sale at Online Access and
Amazon.com and has quickly become one of the top selling
camcorders at Amazon.com.

SANYO Electric Co., Ltd. (Nasdaq: SANYY - News) is a $23 billion
manufacturer and distributor of consumer and commercial
electronics, including multimedia and telecommunication
products. Based in Chatsworth, California, SANYO Fisher Company
(a division of SANYO North America Corporation, a subsidiary of
SANYO Electric Co., Ltd.) markets digital cameras, PCS phones,
audio systems, portable and mobile electronics, televisions, DVD
players, dictation devices, home appliances, LCD projectors,
security video equipment and air conditioning systems.

For more information and additional specifications, please visit
www.sanyodigital.com. Visit www.sanyodigital.com and click on
"HD1" > "Dealer Images" for downloadable hi-res product images.

CONTACT:

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


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

ASIANA AIRLINES: Targets KRW190Bln Operating Profit in 2006
-----------------------------------------------------------
Asiana Airlines Inc. aspires to post an operating profit of
KRW190 billion this year, Yonhap News Agency reports.

The Company also wants to achieve KRW3.53 trillion in sales in
2006. However, Asiana did not disclose a net profit target for
this year.

The airline mulls of investing a total of KRW527 billion this
year, an increase of 49.3 percent from last year.  

Asiana will invest some of the funds in procuring six aircrafts,
including one Boeing 777 for passengers and one Boeing 747 for
cargo.

CONTACT:

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


LG CARD: Swelling Price May Delay Sale
--------------------------------------
The sale of LG Card Co. could take longer than planned as its
market value swells continuously, The Korea Herald reveals.

LG Card's market capitalization has reached KRW6.3 trillion as
of last week, priced at around KRW53,000.

"The stock prices have shot up way too high, and because the
company has become that much more expensive, bidders are wary,"
said Han Jeong-tae, an analyst at Mirae Asset Securities.

Korea Development Bank (KDB) has hinted that the sale of the
card company would most likely be postponed due to an overall
delay in the schedule.

According to KDB's President Kim Chang-lok, the creditor's top
priority is getting the best price for LG Card.  Mr. Kim did not
elaborate on the timeframe.

Experts said a delay is also expected since it depends on the
conditions offered by the bidders and subsequent negotiations
that may take more time.

"I've yet to see any real progress on the sale," said one
analyst who declined to be identified.

Since on the brink of bankruptcy in 2003, the Company has now
bounced back through a KRW6 trillion rescue package and self-
reforms.

The Korea Listed Companies Association said LG Card probably had
a net profit of KRW1 trillion for 2005.  The exact figures are
yet to be released on January 20.

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
===============

ANTAH HOLDING: Explains Deficit in Adjusted Shareholders' Equity
----------------------------------------------------------------
Antah Holding Berhad (Antah) issued to Bursa Malaysia Securities
Berhad an announcement pursuant to Practice Note 17/2005.

(1) Introduction

In compliance with Practice Note No. 17/2005 (PN17/2005), which
sets out the criteria and obligations as an Affected Listed
Issuer pursuant to Paragraph 8.14C of the Listing Requirements
of Bursa Malaysia Securities Berhad (Bursa Securities) (LR), the
Board of Directors of Antah advised that, based on the audited
consolidated results of the Company for the financial year ended
June 30, 2004 as submitted to the Exchange on December 30, 2005,
the Company has a deficit in the adjusted shareholders' equity
on a consolidated basis amounting to MYR99.79 million. The
reason for the deficit in the adjusted shareholders' equity is
mainly due to the followings:

(a) Impairment for highway development expenditure amounting to
MYR208,449,000;

(b) Inventories written down amounting to MYR63,989,000; and

(c) Compensation to contractors for the termination of contracts
amounting to MYR47,695,000.

As such, the Company is an Affected Listed Issuer pursuant to
Paragraph 2.1 of PN17/2005.

(2) Obligations of the company as an affected listed issuer

In accordance with PN17/2005, the Company is required to comply
with the following conditions:

(a) Submit a Regularization Plan as defined in Paragraph
8.14C(3) of the LR to the relevant authorities for approval or,
where the relevant authorities' approval are not required,
obtain all other approvals necessary for the implementation of
the Regularization Plan within 8 months from the date of this
First Announcement (Submission Timeframe);

(b) Implement the Regularization Plan within the timeframe
stipulated by the relevant authorities or where no timeframe has
been stipulated or allowed by the relevant authorities, within
the timeframe stipulated by Bursa Securities (Implementation
Timeframe);

(c) Announce the status of the Company's plan to regularize its
condition on a monthly basis (Monthly Announcement) until
further notice from Bursa Securities; and

(d) Announce its compliance or non-compliance with a particular
obligation pursuant to PN17/2005 on an immediate basis.

(3) Consequences of non-compliance with such obligations

If the Company should fail to comply with the obligation to
regularize its condition, all of its listed securities shall be
suspended from trading on the 5th market day after expiry of the
Submission Company.

(4) Status of the company's plan to comply with the obligation
to regularize its condition

The Company had on November 7, 2004 announced its debt-
restructuring scheme involving the financial institution lenders
and other creditors of the Company.

The Company has obtained the approval of their scheme creditors
for the proposed debt restructuring at the Court Convened
Meeting held on November 27, 2004 and obtained a Court Sanction
on February 8, 2005.

Due to the adverse financial position of the Company, there were
certain proposals in the debt-restructuring scheme which are not
viable and therefore, the debt-restructuring scheme has to be
revised accordingly.

The Board of Directors of Antah is currently deliberating on the
revision of the scheme and shall announce the same in due
course.

This announcement is dated 9 January 2006.

CONTACT:

Antah Holding Berhad
9577 Jalan SS16/1 Subang Jaya
47500 Petaling Jaya Selangor
Telephone: 03-5632 8668
Fax: 03-5635 1234


BELL & ORDER: Changes Name to Scomi Engineering
-----------------------------------------------
Further to Bell & Order Berhad's announcement on October 18,
2005 regarding change of name, the Company advised Bursa
Malaysia Securities Berhad that its change of name to Scomi
Engineering Bhd became effective on January 9, 2006, being the
date of the Certificate of Incorporation on Change of Name.

This announcement is dated 9 January 2006.

CONTACT:

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


BELL & ORDER: Posts No Improvement in Default Status
----------------------------------------------------
Bell & Order Berhad (B&O) informed Bursa Malaysia Securities
Berhad a monthly announcement on Default in Payment Pursuant to
Practice Note No. 1/2001 (PN1) of the Listing Requirement of
Bursa Malaysia Securities Berhad (Bursa Securities).

The Board of Directors of B&O advised that there is no change in
the status of default payments of interest and repayment of
principal to financial institutions in respect of various credit
facilities granted to B&O.

On December 6, 2005, copies of the Abridged Prospectus together
with the accompanying Provisional Allotment Letter relating to
the renounceable rights issue of 57,552,000 new ordinary shares
of MYR1.00 each in B&O (Rights Shares) at an issue price of
MYR1.20 per Rights Share payable in full upon acceptance on the
basis of three (3) Rights Shares for every one(1) existing
ordinary share of MYR1.00 each (Rights Issue) has been
dispatched to the shareholders of B&O whose names appear on the
Record of Depositors of B&O as at December 1, 2005. The Offer
period for the Rights Issue was closed on December 23, 2005.

The Rights Issue is part of the Corporate Exercise (as defined
in the Abridged Prospectus dated December 6, 2005) to regularize
B&O's financial condition.

The Rights Issue will raise cash proceeds of approximately
MYR69.06 million, which will be utilized for the settlement
pursuant to the Composite Scheme of Arrangement (as defined in
the Abridged Prospectus dated December 6, 2005), expenses in
relation to the Corporate Exercises and working capital for
future business expansion purposes.

This announcement is dated 9 January 2006.


CYGAL BERHAD: Fixes Warrant Exercise Price at MYR1.00 Each
----------------------------------------------------------
Cygal Berhad (Cygal) provided Bursa Malaysia Securities Berhad
with an update to the following announcements:

Share Exchange;

Debt-Restructuring Comprising:

(I) Financial Institutions Scheme;

(II) Non Financial Institutions Scheme; and

(III) Part settlement of amount owing to an offshore financial
institution additional issue to Commerce International Merchant
Bankers Berhad;

Rights issue of shares together with warrants;

Acquisition of Property Development Companies; and

Delisting of Cygal and the listing of a new investment holding
company, Active Accord Sdn Bhd (Newco), which will be converted
into a public company, in place of Cygal.

The Company refers to the announcements on August 22, 2001,
December 16, 2002, June 21, 2004, March 8, 2005, March 25, 2005,
June 23, 2005, September 16, 2005, October 11, 2005 and December
15, 2005 in relation to, amongst others, the renounceable rights
issue of up to 40,952,574 new ordinary shares of MYR1.00 each in
Newco (Newco Shares) (Rights Shares) together with up to
40,952,574 new detachable warrants (Warrants) for free, at an
issue price of MYR1.00 per Rights Share, on the basis of 8
Rights Shares with eight Warrants for every seven Newco Shares
held after the share exchange.

The share exchange involves the exchange of 47,778,000 ordinary
shares of MYR1.00 each in Cygal (Cygal Shares) with 35,833,500
Newco Shares, via a members' scheme of arrangement under Section
176 of the Companies Act, 1965 on the basis of three Newco
Shares for every four Cygal Shares held.

On behalf of Cygal, it is announced that the exercise price of
the Warrants has been fixed at MYR1.00 and is subject to
adjustments in accordance with the provisions of a deed poll to
be executed.

This announcement is dated 9 January 2006

CONTACT:

Cygal Berhad   
Lot 4.21, 4th Floor,
Plaza Prima, 4 1/2 Mile,
Jalan Klang Lama,
Kuala Lumpur Wilayah Persekutuan 58200
Telephone: 03-79839099   
Fax: 03-79817629


INTAN UTILITIES: SC Allows 3rd Party to Underwrite Rights Shares
----------------------------------------------------------------
Intan Utilities Berhad (Intan) issued to Bursa Malaysia
Securities Berhad an update to the following proposals:

(i) Proposed Rights Issue with Warrants;

(ii) Proposed Restricted Issue;

(iii) Proposed Acquisition of BToto;

(iv) Proposed Acquisition of KL Property; and

(v) Proposed Acquisition of Kuantan Property

(Collectively referred to as the Proposals)

The Company refers to the announcements dated June 23, 2005,
September 14, 2005, November 24, 2005 and December 9, 2005 in
relation to the Proposals (Announcements). Unless otherwise
defined, the definitions set out in the Announcements shall
apply herein.

As announced on June 23, 2005, Vista Meranti Sdn Bhd (VM), a
substantial shareholder of Intan, has given an irrevocable
undertaking to subscribe for its portion of entitlement of the
Proposed Rights Issue with Warrants (Undertaking Letter) of
approximately 296.554 million Rights Shares, based on its
shareholdings in Intan as at June 23, 2005.

On behalf of the Board of Directors of Intan, RHB Sakura is
informed that the Securities Commission had, via its letter
dated January 4, 2006, informed that it has no objection for VM
to procure a third party/(ies) to underwrite or to subscribe for
such number of Rights Shares equivalent to the total number of
Rights Shares in respect of the Intan Shares placed out/disposed
by VM, from the date of the Undertaking Letter, i.e June 23,
2005, to the actual entitlement date of the Proposed Rights
Issue with Warrants.

This announcement is dated 6 January 2006.

CONTACT:

Intan Utilities Berhad
11th Floor Menara Berjaya,
KL Plaza, 179 Jalan Bukit Bintang,
55100 Kuala Lumpur
Telephone: 03-2935 8888
Fax: 03-29358043
Web site: http://www3.jaring.my/intan


LIEN HOE: Bank Default Unlikely to Affect Finances, Operations
--------------------------------------------------------------
Lien Hoe Corporation Berhad refers to the letter of query dated
January 5, 2006 from Bursa Malaysia Securities Berhad in respect
of the default in term loans granted by Alliance Bank Malaysia
Berhad and would like to clarify that the default will not have
any material financial impact on the Company as the term loans
involved had already been recognized as current liabilities in
the Company's audited financial statements as at December 31,
2004 and this default is also not expected to affect the
Company's operations.

This announcement is dated 6 January 2006


CONTACT:

Lien Hoe Corporation Bhd   
18th Floor, Menara Lien Hoe 8,
Persiaran Tropicana,
Tropicana Golf & Country Resort,
Petaling Jaya Selangor 47410
Malaysia
Telephone: 03-78051331   
Fax: 03-78051331


MAGNUM CORPORATION: Buys Back Ordinary Shares
---------------------------------------------
Magnum Corporation Berhad issued to Bursa Malaysia Securities
Berhad a notice of shares buy back with the following details:
   
Date of buy back: January 9, 2006

Description of shares purchased: Ordinary shares of MYR0.50 each

Total number of shares purchased (units): 371,000

Minimum price paid for each share purchased (MYR): 2.000

Maximum price paid for each share purchased (MYR): 2.020

Total consideration paid (MYR):  

Number of shares purchased retained in treasury (units): 371,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 92,470,600

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

CONTACT:

Magnum Corporation Berhad
No 8 Jalan Munshi Abdullah
50100 Kuala Lumpur, 50100
Malaysia
Telephone: +60 3 2698 8033/ +60 3 2698 9885


MEDIA PRIMA: New Shares Up for Listing, Quotation
-------------------------------------------------
Media Prima Berhad advised that its additional 400,000 new
ordinary shares of MYR1.00 each arising from the conversion of
600,000 Irredeemable Convertible Unsecured Loan Stocks 2003/2008
will be granted listing and quotation by Bursa Malaysia
Securities Berhad with effect from 9:00 a.m., Thursday, January
12, 2006.

CONTACT:

Media Prima Berhad
Sri Pentas,
No. 3 Persiaran Bandar Utama,
Bandar Utama,
47800 Petaling
Selangor
Phone: 03-77266333
Fax: 03-77280787
Web site: http://www.mediaprima.com.my/index.asp


MERCES HOLDINGS: Disposes Of Interest in 3 Units
------------------------------------------------
The Board of Directors of Merces Holdings Berhad advised Bursa
Malaysia Securities Berhad that it had on January 5, 2006
disposed 100 percent equity interest in three dormant
subsidiaries for total cash consideration of MYR6.00.

(1) Details of the disposal

Click to view a full copy of the disposal details:
http://bankrupt.com/misc/MercesHoldingsBerhad010906.pdf

(2) Financial Effect

The disposal will not have any material effect on the earnings
and tangible assets of the Group for the financial year ending
December 31, 2006.

(3) Directors' and Substantial Shareholders' Interests

None of the Directors and substantial shareholders and/or
persons connected with them has any interest, direct or
indirect, in the transactions.

This announcement is dated 6th January 2006.

CONTACT:

Merces Holdings Bhd
Malaysia
Phone: 60 3 2072 8100
Fax: 60 3 2072 8101


METROPLEX BERHAD: In Talks to Address Payment Default
-----------------------------------------------------
Metroplex Berhad (MB) issued to Bursa Malaysia Securities Berhad
a monthly announcement on default in payment pursuant to
Practice Note No. 1/2001 (PN1) of the Listing Requirements of
Bursa Malaysia Securities Berhad (Bursa Securities).

Further to our announcement dated December 9, 2005 on PN1, the
Company provided an update on the status in default in payment
of MB Group's various loan facilities as at December 31, 2005 as
set out in Table A attached.

To view a full copy of Table A, go to
http://bankrupt.com/misc/MetroplexBerhdTableAPN1Dec05.xls

The estimated amount of default (principal and interest) as at
December 31, 2005 is MYR1,748,254,852.02.

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

This announcement is dated 9 January 2006.


PANTAI HOLDINGS: Issues New Shares for Listing, Quotation
---------------------------------------------------------
Pantai Holdings Berhad advised that its additional:

(i) 229,800 new ordinary shares of MYR1.00 each issued pursuant
to the Employees' Share Option Scheme; and

(ii) 354,700 new ordinary shares of MYR1.00 each arising from
the Exercise of 354,700 Warrants 2002/2007;

will be granted listing and quotation by Bursa Malaysia
Securities Berhad with effect from 9:00 a.m., Thursday, January
12, 2006.

CONTACT:

Pantai Holdings Berhad
8 Jalan Damansara Endah
Damansara Heights Kuala Lumpur, Malaysia 50490
Malaysia
Telephone: +60 3 2713 2282 / +60 3 2094 4528


PATIMAS COMPUTERS: Bourse to Suspend Trading of Securities
----------------------------------------------------------
Patimas Computers Berhad advised Bursa Malaysia Securities
Berhad of the following:

(i) Patimas' six percent Irredeemable Convertible Unsecured Loan
Stocks 2001/2006 (ICULS 2001/2006) will be maturing at 5:00 p.m.
on Sunday, February 19, 2006.

(ii) Trading in the ICULS 2001/2006 will be suspended with
effect from 9:00 a.m., Friday, January 27, 2006 in order to
facilitate the payment of interest and automatic conversion of
the ICULS 2001/2006 arising from the maturity.

(iii) Patimas' ICULS 2001/2006 will be removed from the Official
List of Bursa Securities with effect from 9:00 a.m., Monday,
February 20, 2006.

Your attention is drawn to Patimas' notice to holders of the
ICULS 2001/2006 dated January 9, 2006.

CONTACT:

Patimas Computers Bhd   
Patimas Technology Centre,
Technology Park Malaysia, Bukit Jalil,
Kuala Lumpur Wilayah Persekutuan 57000
Malaysia
Telephone: 03-89941818   
Fax: 03-89941188


PETALING TIN: Updates Sale and Purchase Agreement Info
------------------------------------------------------
Petaling Tin Berhad (PTB) furnished Bursa Malaysia Securities
Berhad details of the proposed disposal by PTB Horticulture Farm
Sdn Bhd, a wholly owned subsidiary of Petaling Tin Berhad of a
freehold development land held under Geran No. 49875 Lot 1315
Seksyen 57, Bandar Kuala Lumpur, Daerah Kuala Lumpur, Negeri
Wilayah Persekutuan Kuala Lumpur (Property), to Starpuri
Development Sdn Bhd for a cash consideration of MYR59,000,000.00
(Proposed Disposal).  

(1) Introduction

Further to the announcements dated December 15, 2005 and July 6,
2005 in relation to the above, the Board of Directors of
Petaling Tin Berhad (PTB) advised that on January 5, 2006, PTB
Horticulture Farm Sdn Bhd (PTBHF or Vendor), a wholly owned
subsidiary of PTB entered into a second supplemental agreement
with Starpuri Development Sdn Bhd (Starpuri or Purchaser)
(Second Supplemental Agreement) to vary certain terms and
conditions of the Sale and Purchase Agreement (SPA) and
Supplemental Agreement (First Supplemental Agreement) dated July
6, 2005 and December 15, 2005 in respect of the Proposed
Disposal.

(2) Salient Terms of the Second Supplemental Agreement

(2.1) Appeal to Dewan Bandaraya Kuala Lumpur (DBKL) (DBKL
Appeal)

The Vendor obtained a development order for the Property issued
by DBKL on August 22, 2005 (Development Order). The plot ratio
approved by the DBKL is less than that stated in the Development
Order Application which was annexed to the SPA. As such, the
Vendor has agreed to submit an application to the DBKL to appeal
for an increase in the plot ratio as stated in the Development
Order.

(2.2) Unconditional Date

Pending the outcome of the DBKL appeal, PTBHF and Starpuri have
agreed to proceed with the Proposed Disposal. As such, PTBHF and
Starpuri have agreed and confirmed that all the conditions
precedent stated in the SPA (as amended by the First
Supplemental Agreement) has been fulfilled.

Accordingly, the SPA is now unconditional as at January 5, 2006,
being the date of the Second Supplemental Agreement
(Unconditional Date).

(2.3) MYR2.5 million Stakeholder Sum

A sum of MYR2.5 million out of the balance purchase
consideration of MYR53.1 million is to be retained by the
Purchaser's solicitors as stakeholders for a period of not more
than two months from the date of the Second Supplemental
Agreement, pending the outcome of the DBKL Appeal. If the DBKL
Appeal is not successful within two months from the date of the
Second Supplemental Agreement, the sum of MYR2.5 million will be
returned to the Purchaser.

(3) Effects

The terms of the Second Supplemental Agreement will not have any
effect on PTB's issued and paid-up share capital, substantial
shareholders' shareholdings, proforma consolidated earnings and
net tangible assets.

(4) Directors' Recommendation

The Directors of PTB are of the opinion that the terms of the
Second Supplemental Agreement are in the best interests of the
Company.

(5) Documents available for inspection

The Second Supplemental Agreement is available for inspection at
the registered office of PTB at 1st Floor, No. 118, Jalan
Semangat, 46300 Petaling Jaya, Selangor Darul Ehsan during
normal business hours from Mondays to Fridays (except public
holidays) from the date of this announcement up to the date of
completion.

This announcement is dated 5 January 2006.

CONTACT:

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


POH KONG: Issues New Shares for Listing, Quotation
--------------------------------------------------
Poh Kong Holdings Berhad advised that its additional 5,000 new
ordinary shares of MYR1.00 each issued pursuant to the
conversion of MYR8,000 Irredeemable Convertible Unsecured Loan
Stocks 2004/2007 INTO 5,000 new ordinary shares of MYR1.00 each
will be granted listing and quotation by Bursa Malaysia
Securities Berhad with effect from 9:00 a.m., Thursday, January
12, 2006.

CONTACT:

Poh Kong Holdings Berhad
No 16-20 Jalan 52/4
46200 Petaling Jaya, Selangor Darul Ehsan
Malaysia
Telephone: +60 3 7958 8999/3 7956 3450
           +60 37957 2404/3 7954 7726


TALAM CORPORATION: New Shares Up for Listing, Quotation
-------------------------------------------------------
Talam Corporation Berhad advised that its additional 32,570 new
ordinary shares of MYR1.00 each issued pursuant to the
conversion of 325,700 Irredeemable Convertible Preference Shares
2004/2009 into 32,570 new ordinary shares will be granted
listing and quotation by Bursa Malaysia Securities Berhad with
effect from 9:00 a.m., Thursday, January 12, 2006.

CONTACT:

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


TELEKOM MALAYSIA: Unit to Issue Guaranteed Fixed Rate Notes
-----------------------------------------------------------
Telekom Malaysia Berhad (TM) furnished Bursa Malaysia Securities
Berhad details of the proposed issuance by Excelcomindo Finance
Company B.V. (EFC), a wholly owned subsidiary of PT Exelcomindo
Pratama Tbk. (Excelcomindo) which in turn is a 56.9 percent
subsidiary of TM, of approximately united states dollar (USD)
250 million senior guaranteed fixed rate notes (Notes) (Proposed
Issue).

(1) Introduction

On behalf of TM, the Exchange advised that EFC, a wholly owned
subsidiary of Excelcomindo which in turn is a 56.9 percent
subsidiary of TM, proposes to issue approximately USD250 million
senior guaranteed fixed rate notes.

(2) Details of the proposed issue

The proposed principal terms of the Notes are set out in Table
1.

To view a full copy of Table 1, go to
http://bankrupt.com/misc/TelekomMalaysia010906.pdf

The issue price, interest, tenure, issue size and optional
redemption terms of the Notes will only be finalized after a
book-building process to determine the market demand for the
Notes. These terms will be announced upon the issuance of the
Notes.

(3) Rationale for the proposed issue and proposed utilization of
proceeds

The net proceeds from the sale of the Notes will be used to fund
Excelcomindo's continued development of its cellular network and
for its general corporate purposes.

(4) Effects of the proposed issue

(4.1) Share Capital and Substantial Shareholders' Shareholdings

The Proposed Issue will not have any effect on the share capital
and shareholdings of the substantial shareholders as no TM
shares will be issued in conjunction with the Proposed Issue.

(4.2) Net Tangible Assets (NTA) and Earnings

The Proposed Issue will not have any effect on the NTA of the TM
group.

The effect of the Proposed Issue on the earnings per share of
the TM group for the financial year ending December 31, 2006
depends on the specific usage of the funds raised.

(4.3) Dividends

The Board of Directors of TM does not expect the Proposed Issue
to have a material impact on the dividend policy of TM for the
financial year ending December 31, 2006.

(5) Approvals Required

The Proposed Issue is not subject to any authorities' approval.

(6) Directors' and major shareholders' interests

The Directors and/or major shareholders of TM and/or persons
connected to them do not have any interest in the Proposed
Issue.

(7) Directors' Recommendation

The Board of Directors of TM is of the view that the Proposed
Issue is in the best interest of the TM group.

(8) Joint global coordinators, joint bookrunners and joint lead
managers

CIMB and UBS Investment Bank have been appointed as the Joint
Global Coordinators for the Proposed Issue.

CIMB, UBS Investment Bank and JP Morgan have been appointed as
the Joint Bookrunners and Joint Lead Managers for the Proposed
Issue.

This announcement is dated 9 January 2006.

CONTACT:

Telekom Malaysia Berhad
Level 51, North Wing, Menara Telekom,
Off Jalan Pantai Baharu
50672 Kuala Lumpur, Malaysia  
Phone: +60-3-2240-9494
Fax: +60-3-2283-2415S


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

C&P HOMES: Notes Changes in Shareholdings After Restructuring
-------------------------------------------------------------
C&P Homes Inc. (CMP) furnished the Philippine Stock Exchange
copies of SEC Form 23-b (Statement of Changes in Beneficial
Ownership of Securities) of the following, reporting changes in
their shareholdings as a result of the Company's capital
restructuring:

(1) Mr. Romeo B. Albaniel    - Director
(2) Ms. Rosario H. Javier    - Director
(3) Ms. Carolina C. Mejias   - Director
(4) Mr. Edgardo E. Santos    - Director
(5) Ms. Gemma M. Santos      - Director
(6) Ms. Maribeth C. Tolentino- Director/Chief Executive Officer
(7) Ms. Estrellita C. Tan    - Chief Information Officer
(8) Fine Properties Inc.     - Principal shareholder
(9) Adelfa Properties Inc.   - Principal shareholder

Copies of the said documents shall be made available for
downloading free of charge at
http://bankrupt.com/misc/TCRAP_C&PHOMES011006.pdf.

CONTACT:

C&P Homes Incorporated
Las Pinas Business Centre
National Road, Las Pinas City
Phone:  874-5758; 873-2178; 772-1093; 726-6143
Fax:  872-4697; 726-6143
E-mail:  ltan@cmphomes.com.ph
Web site: http://www.cmphomes.com.ph


DMCI HOLDINGS: Clarifies Target Sales Report
--------------------------------------------
In reference to its letter dated Jan. 9, 2006, in the
clarification of news article entitled "DMCI Holdings targets
Php5 Bln in housing sales" published in the Jan. 9, 2006 issue
of the Business World, DMCI Holdings would like to correct the
percentage increase in its target for the housing sales and
reservation:

"We would like to clarify that the Company, thru its housing
subsidiary D.M. Consuji Inc. (DMCI) and DMCI Project Developers
Inc. (PDI), is expecting a Php5 billion from housing sales and
reservations for this year, an estimated of 92% increase from
last year's Php2.6 billion of sales and reservations."

CONTACT:

DMCI Holdings Incorporated
3/F, Dacon Building
2281 Chino Roces Ave. Ext.
Makati City 1231
Telephone:  888-3000
Fax:  816-7362
E-mail Address: dmcihi@dmcinet.com
Web site: http://www.dmchi.com


EQUITABLE PCI: On Watch Positive After BDO Merger Offer
-------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B' long-term
counterparty credit rating on Philippines' Equitable PCI Bank
(Equitable) on CreditWatch with positive implications after
Banco de Oro Universal Bank's (BDO, B+/Stable/B) announcement on
Jan. 6, 2006, to merge with Equitable. At the same time, the 'B'
rating on Equitable's senior unsecured debt and 'CCC+' rating on
its subordinated debt are placed CreditWatch with positive
implications. The ratings on BDO are not affected.
     
The offer would be valid up to Jan. 31, 2006, and has the
following salient features:
     -- Merger of equals between BDO and Equitable, with BDO as
the surviving entity;
     -- Merger by way of swap of common shares; and
     -- Swap ratio shall, at the option of the board of
directors of Equitable, be either: (1) a maximum swap ratio of
1.60 BDO common shares for every Equitable common share; or (2)
book-to-book values adjusted for comparability by an independent
accounting firm using International Accounting Standards.

"Based on the above features of the offer, our view is that, if
the merger takes place, the merged entity's asset quality and
capitalization would be essentially a weighted average of the
standalone entities," said Standard & Poor's credit analyst
Nandini Vijayaraghavan. The proposed merger would also create
the third-largest commercial bank in the Philippines, whose
business and financial profile would be superior to that of
Equitable.
     
Standard & Poor's will monitor the situation and expects to
resolve the CreditWatch when there is clarity on the outcome of
the offer and the exact terms for the merger.

CONTACT:

Equitable PCI Bank
Equitable PCI Bank Twr. Mkt Ave.
cor. H.V. dela Costa Sts., Mkt. City
Phone: (632) 840-7000
Web site: http://www.equitable.com.ph/


EXPORT AND INDUSTRY: Posts Changes in Shares Ownership
------------------------------------------------------
Export and Industry Bank Inc. (EIB) furnished the Philippine
Stock exchange a copy of SEC Form 23-B (Statement of Changes in
Beneficial Ownership of Securities) of Mr. Sergio R. Ortiz-Luis
Jr., a director, which reported the change in his shareholdings
for the month of December 2005.

A copy of the said document shall be made available for
downloading free of charge at
http://bankrupt.com/misc/tcrap_exportandindustry011006.pdf.

CONTACT:

Export and Industry Bank
30 Paseo de Roxas Ave. cor. Jupiter St.,
Makati City, Metro Manila
E-mail: expertinfo@exportbank.com.ph
Web site: http://www.exportbank.com.ph


LAFAYETTE MINING: Government Levies Php10.4 Mln Fine for Spills
---------------------------------------------------------------
The Department of Environment and Natural Resources (DENR) has
fined Lafayette Mining's Philippine arm for violating provisions
of the Clean Water Act, BusinessWorld reports.

Lafayette Philippines Inc. will pay a penalty of Php10.4 million
to the government following two mine spills at its gold plant on
Rapu-Rapu Island in October last year.

In addition to the fines and rehabilitation conditionalities,
Lafayette was also required to submit an ISO (International
Organization for Standardization) certification before it can
resume mining operations.

The Australia-based mining firm will pay the maximum fine of
Php200,000 per day of violation for the period Oct. 11 to Dec.
14, 2005.

The Php10.4-million fine was on top of the Php300,000 earlier
imposed by the Environmental Management Bureau for violation of
conditions under Lafayette's environmental compliance
certificate.

Lafayette said it is still to get a copy of the order.

CONTACT:

Lafayette Mining Limited
Suite 1, Level 5
189 Flinders Lane
Melbourne
Australia VIC 3000
Telephone: +61 (0)3 9654 6044
Facsimile: +61 (0)3 9654 6010
E-mail: info@lafayettemining.com
Web site: http://www.lafayettemining.com


LAFAYETTE MINING: Responds to Reports on Mine Spill Issue
---------------------------------------------------------
Philippine media on Tuesday reported that the Philippine
government has imposed a fine of Php10.7 million (AU$267,000) on
Lafayette Philippines Inc. (LPI), as a result of two unscheduled
wastewater discharges in October last year at the Rapu Rapu
polymetallic mining operations in central Philippines.

The two discharges were publicly reported in the last quarter of
2005.

LPI, a subsidiary of Lafayette Mining Limited, will seek to
secure confirmation from government of the fine as reported by
media. It will also seek to secure a copy of the reported order
issued by the relevant government agency. Further, LPI will seek
to set a high-level meeting to clarify and resolve the issues
raised in the media with the intent of securing approval to
immediately resume operations.

Since the unscheduled discharge incidents, LPI has worked
together with government and non-government entities, including
local communities - undergoing the most rigorous of process
reviews - to identify and fully resolve the concerns associated
with the discharges.

Lafayette reaffirms its commitment towards responsible mining
within the framework of Philippine environmental laws, in
cooperation and partnership with all stakeholders.

Speaking from the Philippines, Lafayette's CEO, Andrew McIlwain,
said the Company acknowledged - as it always has - that
uncontrolled discharges from mining operations are unacceptable.

"We continue to work with government and the local community to
complete the process by which we can safely and confidently
return to commissioning the base metals plant," Mr. McIlwain
said.

"By rectifying the issues and resuming operations at Rapu Rapu,
we can deliver the type of production that will sustain
profitability and local employment as well as provide important
local and national benefit."


NORTHERN FOODS: Eyes Modernization to Avoid Closure
---------------------------------------------------
Northern Foods Corporation (NFC) is looking to upgrade its
outdated facilities and continue operating, reports The Manila
Standard.

The state-owned tomato processor will avail of a Php195-million
loan in order to keep the company going, lest the government
would be forced to permanently close down the facility.

In the last three years, NFC has been struggling to improve its
operations through small-scale facility upgrading as financial
institutions continuously refused to grant the company financial
assistance.  

NFC has a pending petition to get funding support from the
Agricultural Competitiveness Enhancement Fund (ACEF).  ACEF
officials are yet to act on its request.  

Banks are hesitant to extend credit to NFC due to its poor
financial standing. The company had been undercapitalized from
the beginning since its initial capital was just enough to buy
the plant equipment.  

The planned modernization of NFC plant is vital to the company's
operation if it is to survive the growing competition from
foreign tomato processing companies, especially China whose
presence in the local sardines industry has been consistently
growing.  

The proposed loan, if granted would be used to retool three
major plant facilities such as the aseptic sterilizer,
concentrator and refiner, including the upgrading of the bag
filler process controls, ancillary equipments and plant utility
equipment.

CONTACT:

Northern Foods Corporation
7/f One Corporate Plaza
845 A. Arnaiz Ave.
1223 Makati City, Philippines
Phone: +63 2 814-0822
Fax:  +63 2 817-8075
E-mail:  main@nfc.gov.ph
Web site: http://www.nfc.gov.ph


RFM CORPORATION: Issues Beneficial Ownership Reports
----------------------------------------------------
Further to Circular for Brokers No. 0094-2006 dated January 5,
2006, RFM Corporation (RFM) furnished the Philippine Stock
Exchange copies of Beneficial Ownership Reports of the following
officers in relation to their acquisition of shares by way of
stock grant:

- SEC Form 23-A (Initial Statement of Beneficial Ownership of
Securities)

(1) Mr. Norman P. Uy       - SVP/General Manager
(2) Mr. Raymond B. Azcarte - VP Finance
(3) Atty. Cristina D. Reyes- VP-Legal
(4) Mr. Ramon M. Lopez     - VP-Corplan/Marketing
(5) Mr. Raul D. Villapana  - VP-HRD
(6) Mr. Gary R. Guarnes    - AVP-Internal Audit

- SEC Form 23-B (Statement of Changes in beneficial Ownership of
Securities)

(1) Mr. Felicisimo M. Nacino, Jr. - EVP/COO

Copies of the said documents shall be made available for
downloading free of charge at
http://bankrupt.com/misc/tcrap_rfmcorp011006.pdf

CONTACT:

RFM CORPORATION
RFM Corporate Center,
Pioneer corner Sheridan Streets,
Mandaluyong City 1550,
Metro Manila, Philippines
Telephone: (63-2) 631-8101
Facsimile: (63-2) 631-5094
Web site: http://www.rfm.com.ph


* Cash Woes Pull Down Pre-need Sales
------------------------------------
Financial woes plaguing the pre-need industry continue to keep
sales of pre-need plans down in November, according to Manila
Times.

The Securities and Exchange Commission (SEC) reported that pre-
need sales nose-dived by 45.98 percent in the January-to
November period last year.

Only Php18.91-billion worth of plans were sold, down from
Php34.1 billion in the same period in 2004.

The regulator also revealed that the industry was able to sell
only 284,307 plans for the period, or a 40.37 percent decline
from the previous year's 476,771 plans.

In November alone, the industry only sold Php1.48-billion worth
of plans, or a 47.97 percent decline from 2004's Php2.84
billion. This translated to 18,777 plans sold, or a 53.84
percent decline from 2004's 40,674 plans.

But despite the 5.36-percent drop in the number of plans sold,
November's sales, however, rose 6.73 percent from October's
Php1.38 billion.

In terms of premium payments, the industry also collected some
Php2.03 billion in the 11-month period ending November, or a
54.78-percent decline from 2004's Php4.49 billion.

In November alone, collections amounted to Php198.2 million, or
a 36.89 percent decline from the previous year's P314.02
million. Compared to October, November collections rose 18.63
percent, from Php167.07 million previously.

The country's pre-need industry has been struggling to get back
on its feet after the collapse of former industry leaders
College Assurance Plans (Philippines) inc. (CAP), Pacific Plans
Inc. and Platinum Plans Inc.


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

ENDUE ELECTRONICS: Creditor Files Winding Up Petition
-----------------------------------------------------
Notice is hereby given that STMicroelectronics Pte Limited, a
creditor of Endue Electronics Pte Limited, filed a winding up
petition against the Company with the Singapore High Court on
Dec. 27, 2005.

The Petition is directed to be heard before the Court sitting at
Singapore on Jan. 20, 2006, 10:00 a.m.

Any Company creditor or contributory 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 Company creditor
or contributory requiring the copy of the Petition by the
undersigned on payment of the regulated charge for the same.

The Petitioner's address is at 28 Ang Mo Kio Industrial Park 2,
Singapore 569508.

The Petitioner's solicitors are Wong Tan & Molly Lim LLC of 80
Robinson Road #17-02, Singapore 068898.

Wong Tan & Molly Lim LLC
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the said
Petition must serve on or send by post to solicitors Wong Tan &
Molly Lim LLC a written notice of his intention to do so. The
notice must state the name and address of the person, or, if a
firm, the name and address of the firm, and must be signed by
the person or firm, or his solicitor (if any) and must be
served, or if posted, must be sent by post in sufficient time to
reach the solicitors no later than 12:00 p.m. of Jan. 19, 2006
(the day before the day appointed for the hearing of the
Petition).

CONTACT:

Endue Electronics Pte Limited
38 Woodlands Industrial Park E1
#04-11 Singapore 757700
Phone: 65 6744 6331
Fax:   65 6744 7239
E-mail: endue@pacific.net.sg
Web site: http://www.endue-electronics.com.sg/


HAPPY MANUFACTURING: Receiving Claims Until Next Month
------------------------------------------------------
Notice is hereby given that the creditors of Happy Manufacturing
Co. Pte Limited, which is being wound up voluntarily, are
required 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 Company
Liquidators on or before Feb. 5, 2006.

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

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

Dated this 5th day of January 2006

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


INFORMATICS HOLDINGS: Chinese Franchisees Drop Legal Suit
---------------------------------------------------------
Informatics Holdings Limited announced that its Chinese
franchisees, KS Consultants Pte Limited and Kim Seng Holdings
Pte Limited have withdrawn a current High Court claim against
the Company.

Last month, Channel NewsAsia reported that both KS Consultants
anf Kim Seng Holdings Pte Limited were suing the Company for a
claim of SGD240,000 in franchise fees and damages on the
Company's failure to renew an accreditation agreement with
Cambridge University, which is essential to market courses to
students. The Company also failed to mention that some of its
franchise buyers in other parts of China had returned the
franchise within three months.

At present, KS Consultants Pte Limited will continue to be the
Company's master franchisee for Hainan, China. KS Consultants
Pte Limited will work closely with the Company to develop their
business  in the region.

By Order of the Board

Lau Yang Hin
Company Secretary

Jan. 9, 2006

CONTACT:

Informatics Holdings Limited
Informatics Campus
12 Science Centre Road
Singapore 609080
Phone: 65 6562 5625
Fax:   65 6565 1371
Web site: http://www.informaticsgroup.com


TOA INVESTMENT: Requires Creditors to Submit Debt Claims
--------------------------------------------------------
Notice is hereby given that the creditors of TOA Investment Pte
Limited, which is being voluntarily wound up, are required to
send in their names and addresses with particulars of their
debts and claims and the names and addresses of their solicitors
(if any) to the Company Liquidator on or before Feb. 2, 2006.

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

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

Masao Hashimoto
Liquidator
C/o Messrs. Wee Seng Tiong & Co.
1 Coleman Street #06-10, The Adelphi
Singapore 179803


TRIBO S.E.A.: Prepares to Distribute Dividend
---------------------------------------------
Tribo S.E.A. Pte Limited posted a notice of intended dividend at
the Government Gazette, Electronic Edition with the following
details:

Name of Company: Tribo S.E.A. Pte Limited
Last day for receiving proofs: Feb. 5, 2006
Name  & address of Liquidator: Mr. Don M Ho, FCPA
C/o Don Ho & Associates
Certified Public Accountants
Corporate Advisory & Recoveries
Equity Plaza
20 Cecil Street #12-02 & 03
Singapore 049705
Phone: 65 6532 0320 (8 lines)
Fax:   65 6532 0331

Dated this 6th day of January 2006


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

ABICO HOLDINGS: Informs Shareholders of Certificate Renewal
-----------------------------------------------------------
As Abico Holdings Public Company Limited registered the change
of par value from THB10.00 per share to THB1.00 per share with
the Ministry of Commerce on December 22, 2005, Thailand
Securities Depository Co. Ltd. (TSD), as the ABICO registrar
have already issued new share certificates dated December 30,
2005 for the new par value.

TSC advised the Stock Exchange of Thailand (SET) that
shareholders can request to renew the share certificates
beginning from January 11, 2006 onwards to the following
address:

Renewal of share certificates

Thailand Securities Depository Co., Ltd.
62 The Stock Exchange of Thailand Building, 4th Floor
Rajadapisek Road, Klongtoey, Bangkok 10110 Thailand

Any additional enquiries, please contact

TSD Call Center 0-2229-2888
E-mail: contact.tsd@set.or.th
Web site: http://www.tsd.co.th

CONTACT:

Abico Holdings Pcl   
Abico Tower, Floor 5, 401/1 Moo 8,
Phaholyothin Road Lam Luk Ka Pathum Thani    
Telephone: 0-2992-5858 (14 Lines)   
Fax: 0-2992-5878-9   
Web site: http://www.abicogroup.com


ADVANCE AGRO: Moody's Affirms B3 Unsecured Bond Rating
-------------------------------------------------------
Moody's Investor Service has affirmed the B3 senior unsecured
rating of Advance Agro Public Company Limited's (AA) US$250
million bonds due 2012 and removed the rating from its
provisional status.

At the same time, Moody's has affirmed the company's B3
corporate family rating and upgraded to B3 from Caa1 the rating
for AA's US$48.7 million guaranteed unsecured notes due 2007.
The outlook for the ratings is stable.

These rating actions follow the successful closing of AA's
US$250 million bond issuance and subsequent repayment of the
secured debt -- with Thai banks -- under the Master Override
Agreement (MOA). The Thai banks had also released the title of
the collateral. This action alleviated legal subordination risk,
and secured debt now represents around five percent of total
debt.

Moody's says that upward ratings pressure would evolve if there
is:

(1) An improvement in AA's liquidity position;

(2) The establishment of a track record that complies with its
bond covenants; and

(3) Maintenance of its current financial profile, including the
ability to generate free cash flow and maintain TD/EBITDA below
4.0x - 4.5x on a sustainable basis.

On the other hand, the ratings would come under downward
pressure if there is:

(1) An acceleration of repayments from bondholders;

(2) Upstreaming of funds to support other group companies; or

(3) A material downward trend in the paper market and an
aggressive debt-funded capex plan, resulting in TD/EBITDA above
5.5x - 6.0x and EBITDA/Int below 1.5x.

Advance Agro (AA), headquartered in Bangkok, Thailand, is an
integrated producer of pulp, uncoated free sheet, and coated
paper.

CONTACT:

Advance Agro Public Company Limited
1 Moo 2, Tambol Tha Toom, Amphoe Si Maha Phot Prachinburi  
Telephone: 0-3720-8800
Fax: 0-3720-8850-1
Web site: http://www.advanceagro.com




                            *********


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 2006.  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.

                 *** End of Transmission ***