text: TCRAP_Public/040809.mbx T R O U B L E D C O M P A N Y R E P O R T E R A S I A P A C I F I C Monday, August 9, 2004, Vol. 7, No. 156 HeadlinesA U S T R A L I ANATIONAL AUSTRALIA: Cuts A$1Bln Tech Spending By A$400MlnPRIMELIFE CORPORATION: Issues Details on $80Mln Capital RaisingPRIMELIFE CORPORATION: Details Joint Venture AgreementC H I N A & H O N G K O N GANF INSURANCE: Creditors Must Submit Claims By August 27DICKSON GARMENT: Enters Winding Up ProceedingsGOOD FRIENDS: Winding Up Hearing Set August 25HAI NAM: Chow Chun Wah Initiates Winding Up PetitionLEABURG ENGINEERING: Appoints Provisional LiquidatorsMANFAIR HOLDINGS: Creditors Meeting Set August 26OCEAN WORLD: Creditors Meeting Set August 26ORIENTAL GREAT: Creditors Meeting Slated for August 26WING FUNG: Schedules Winding Up Hearing September 1YUEN YIU: Issues Winding Up PetitionI N D O N E S I ABANK PERMATA: 20% Stake Sale Set Next YearMERPATI NUSANTARA: Foreign Investors Keen on PrivatizationJ A P A NALL NIPPON: Establishes Small-size Fleet Operator Air NextDAIEI INCORPORATED: Rehab To Focus on GroceriesJEI SHI: Enters BankruptcyKITABUN KOPORESHON: Faces InsolvencyMATSUSHITA ELECTRIC: Denies Hitachi Tie-up ReportMITSUBISHI MOTORS: Posts Environmental Sustainability ReportMITSUBISHI MOTORS: Posts Investigations' UpdatesSANYO ELECTRIC: JCR Assigns AA to BondsSHOWA DENKO: Revises H1 Performance Forecast for 2004SOJITZ HOLDINGS: Posts Q1 Consolidated Financial ResultsUFJ HOLDINGS: Releases Q1 Financial Results for 2004K O R E AHANARO TELECOM: Discloses Open Interest Balance of DerivativesHANARO TELECOM: Making a Big Push into Broadband TVHYNIX SEMICONDUCTOR: STMicroelectronics to Buy US$200M BondsHYNIX SEMICONDUCTOR: Receives Partnership Performance AwardJINRO LTD: NLRC Unable to Bridge Gap Between Union, ManagementM A L A Y S I ABOUSTEAD HOLDINGS: Issues Additional 20,000 Ordinary SharesCHG INDUSTRIES: Answers BMSB QueryCONSOLIDATED FARMS: Issues Monthly Status UpdateFABER GROUP: Grants Listing of 395,000 Ordinary SharesFABER GROUP: Unit Appoints LiquidatorHAP SENG: Issues Resale, Cancellation of Treasury Shares NoticeHHB HOLDINGS: Seeks Extension of Regularization PlanKSU HOLDINGS: Bursa Malaysia to Delist SecuritiesKSU HOLDINGS: Financial Condition UnchangedPERNAS INTERNATIONAL: Changes Name to Tradewinds CorporationPILECON ENGINEERING: Unit Releases Default Status UpdatePROMTO BERHAD: Discloses Details of Restraining OrderTALAM CORPORATION: Issues 231,700 Ordinary SharesUNITED CHEMICAL: Releases Default Status UpdateYCS CORP.: Issues Details of DelistingP H I L I P P I N E SBAYAN TELECOMMUNICATION: Secured Creditors Oppose Court RulingMAYNILAD WATER: $30Mln Bond Draw Could Increase Water TariffPHILIPPINE BANK: Appoints New DirectorsPILIPINO TELEPHONE: CA Grants Franchise Tax ExemptionSILAHIS INTERNATIONAL: BDO Asks Court to Junk PHP43.75Mln ClaimsUNITED PARAGON: Clarifies News Article in BusinessWorldS I N G A P O R ECO-SEAL LIQUID: Enters Winding Up ProceedingsCREDIT SUISSE: Creditors Must Prove Debts by September 6FOREST GREENS: Creditors To Submit Claims On September 6GINTIAN INVESTMENT: Court Hears Winding Up PetitionIPCO INTERNATIONAL: Holds Annual General MeetingJETDREAM HOLIDAY: Posts Preferential Dividend NoticeVICPLAS INDUSTRIES: Court Issues Winding Up OrderT H A I L A N DCAPETRONIC INTERNATIONAL: Releases Tender Offer ResultEASTERN WIRE: Issues Statement on 2Q Operating ResultsEASTERN WIRE: Issues Reviewed Quarterly Financial Statements - - - - - - - -=================A U S T R A L I A=================NATIONAL AUSTRALIA: Cuts A$1Bln Tech Spending By A$400Mln---------------------------------------------------------National Australia Bank Ltd. (NAB) Chief Executive John Stewartwill cut the bank's A$1 billion technology project spending byup to A$400 million, according to Dow Jones newswires.The cost-cutting measure stemmed from Mr. Stewart's doubts aboutthe effectiveness of the technology used to run the bank'sfinances and operations. Accenture will perform an externalreview on the project. No specific figures have been disclosed,but a NAB spokesman confirmed costs were under review.CONTACT:National Australia Bank Ltd.Level 24 , 500 Bourke Street,MELBOURNE , VICTORIA, AUSTRALIA, 3000Head Office Telephone: (03) 8641-4160Head Office Fax: (03) 8641-4927Website: http://www.national.com.au/PRIMELIFE CORPORATION: Issues Details on $80Mln Capital Raising---------------------------------------------------------------Primelife Corp. Ltd. announced on its website last Friday an $80million capital raising, comprising a rights issue of new sharesand new convertible notes and a conditional share placement to anew strategic investor, Multiplex Group.Primelife has also announced a series of corporate initiatives,including a proposed development joint venture betweenPrimelife, Multiplex Group (Multiplex), and Babcock and BrownPty Ltd (Babcock & Brown).Primelife non-executive Chairman Robert De Crespigny said:"Primelife is a company with great potential. This announcementreflects the Board's determination to fundamentally repositionPrimelife and move its business forward.The proposed development Joint Venture with Multiplex andBabcock & Brown will cement Primelife's position as a premierretirement and aged care service provider across Australia. Thedevelopment reach of the partners is second to none in thissector.To view full copy of the announcement, clickhttp://bankrupt.com/misc/PRIMELIFECORPORATION080604_3.pdfCONTACT:Primelife Corp. Ltd.210 Kings Way,SOUTH MELBOURNE, VICTORIA,AUSTRALIA, 3205Head Office Telephone: (03) 8699 3300Head Office Fax: (03) 8699 3414Website: http://www.primelife.com.au/PRIMELIFE CORPORATION: Details Joint Venture Agreement------------------------------------------------------Primelife Corp. Ltd. disclosed to the Australian Stock Exchangethe Multiplex announcement on the proposed development jointventure between the Multiplex Group, Primelife Corp. Ltd. andBabcock & Brown Pty Ltd.Multiplex, Primelife and Babcock & Brown have entered into amemorandum of understanding to form a joint venture for thepurposes of developing new retirement villages and aged carefacilities (the Joint Venture), subject to formal documentation,due diligence and Primelife shareholder approval.Multiplex is excited about the proposed Joint Venture as thecompany sees a significant growth and opportunities fordevelopment of retirement villages and aged care facilities.Multiplex respect's Primelife's position as a significantservice provider in the retirement and aged care sectors acrossAustralia.Multiplex has followed with interest the refinancing andrestructuring undertaken by the Board of Primelife, led by itschairman Mr. Robert de Crespigny. As part of the strategicalliance, Multiplex will also invest $5,000,000 by way of shareplacement after completion of due diligence and Primelife'sright's issue.It is our view that the Joint Venture will be able to acceleratethe rate of development of retirement villages and aged carefacilities in Australia, which in turn should lead to increaseddevelopment profits for Multiplex, Primelife and Babcock andBrown.The key terms of the Joint Venture will be:- The Joint Venture will be constituted as to 45 percentPrimelife and 10 percent Babcock & Brown.- Multiplex will have a right of first refusal to provideconstruction and facilities management services on reasonablemarket terms and conditions for any retirement village or agedcare developed by the Joint Venture.- Primelife and Multiplex have agreed to commit at least $10million to the Joint Venture, which will be matched byproportionate contribution from Babcock & Brown.- The Joint Venture will have an initial term of five years withan option for a further five year term at the election ofPrimelife or Multiplex, subject to the Joint Venture and theparties meeting certain key performance indicators to be agreedby the parties.==============================C H I N A & H O N G K O N G==============================ANF INSURANCE: Creditors Must Submit Claims By August 27--------------------------------------------------------Notice is hereby given that the creditors of ANF InsuranceCompany Limited (In Member's Voluntary Liquidation), which isbeing voluntarily liquidated, are required on or before the 27August 2004 to send their names, addresses and descriptions,full particulars of their debts or claims, as well as the namesand addresses of their solicitors (if any) to the undersigned,and if so required by notice in writing from the said liquidatorto prove their debts or claims at such time and place as shallbe specified in such notice. In default thereof, they will beexcluded from the benefit of any distribution before such debtsare proved.Dated this 6th day of August 2004MATSUBARA YULiquidator508, 1-9-12 ShinonomeKoto-ku,Tokyo,135-0062JapanDICKSON GARMENT: Enters Winding Up Proceedings----------------------------------------------Notice is hereby given that a Petition for the Winding up ofDickson Garment Factory Limited by the High Court of Hong Kongwas on 19 July 2004 presented to the said Court by Chan KamShing of Room 2807, Lung Tat House, Lower Wong Tai Sin Estate,Wong Tai Sin, Kowloon, Hong Kong. The said petition will beheard before the Court at 9:30 a.m. on 25 August 2004. Anycreditor or contributory of the said company desirous to supportor oppose the making of an order on the said petition may appearat the time of hearing by himself or his counsel for thatpurpose. A copy of the petition will be furnished to anycreditor or contributory of the said company requiring the sameby the undersigned on payment of the regulated charge for thesame.Ms. ADA CHAU MING WAIFor Director of Legal Aid34th Floor, Hopewell Centre183 Queen's Road East, WanchaiHong KongNote: Any person who intends to appear at the hearing of thesaid petition must serve on or send by post to the above named,notice in writing of his intention so to do. The Notice muststate the name and address of the person, or if a firm or his ortheir Solicitor (if any) and must be served or if posted, mustbe sent by post in sufficient time to reach the above named notlater than six o'clock in the afternoon of the 24 August 2004.GOOD FRIENDS: Winding Up Hearing Set August 25----------------------------------------------Notice is hereby given that a Petition for the Winding up ofGood Friends Food Centre Limited by the High Court of Hong Kongwas on 14 July 2004 presented to the said Court by Tsang LauMing of Room 1524, Heng Shan House, Heng On Estate, Ma On Shan,New Territories, Hong Kong. The said petition will be heardbefore the Court at 9:30 a.m. on 25 August 2004. Any creditor orcontributory of the said company desirous to support or opposethe making of an order on the said petition may appear at thetime of hearing by himself or his counsel for that purpose. Acopy of the petition will be furnished to any creditor orcontributory of the said company requiring the same by theundersigned on payment of the regulated charge for the same.Ms. ADA CHAU MING WAIFor Director of Legal Aid34th Floor, Hopewell Centre183 Queen's Road East, WanchaiHong KongNote: Any person who intends to appear at the hearing of thesaid petition must serve on or send by post to the above named,notice in writing of his intention so to do. The Notice muststate the name and address of the person, or if a firm or his ortheir Solicitor (if any) and must be served or if posted, mustbe sent by post in sufficient time to reach the above named notlater than six o'clock in the afternoon of the 24th day ofAugust 2004.HAI NAM: Chow Chun Wah Initiates Winding Up Petition----------------------------------------------------Notice is hereby given that a Petition for the Winding up of HaiNam Industrial Company Limited by the High Court of Hong Kongwas on 16 July 2004 presented to the said Court by Chow Chun Wahof Flat B, 8/F., Sik On House, 54-66 Hill Road, Shek Tong Tsui,Hong Kong. The said petition is directed to be heard before theCourt at 9:30 a.m. on 25 August 2004. Any creditor orcontributory of the said company desirous to support or opposethe making of an order on the said petition may appear at thetime of hearing by himself or his counsel for that purpose. Acopy of the petition will be furnished to any creditor orcontributory of the said company requiring the same by theundersigned on payment of the regulated charge for the same.Ms. ADA CHAU MING WAIFor Director of Legal Aid34th Floor, Hopewell Centre183 Queen's Road East, WanchaiHong KongNote: Any person who intends to appear at the hearing of thesaid petition must serve on or send by post to the above named,notice in writing of his intention so to do. The Notice muststate the name and address of the person, or if a firm or his ortheir Solicitor (if any) and must be served or if posted, mustbe sent by post in sufficient time to reach the above named notlater than six o'clock in the afternoon of 24 August 2004.LEABURG ENGINEERING: Appoints Provisional Liquidators-----------------------------------------------------Leaburg Engineering Limited (In Compulsory Liquidation)announced that pursuant to a direction given by Master Kwang ofthe High Court, a hearing has been fixed on 6th September 2004at 10:30 a.m. at the High Court, High Court Building, 38Queensway, Hong Kong for the High Court to consider theapplication made pursuant to Section 194 of the CompaniesOrdinance by the Provisional Liquidators for the appointment ofDavid John Kennedy and Cosimo Borrelli as Joint and SeveralLiquidators.Copies of the Provisional Liquidators' reports of the FirstMeetings of Creditors and Contributories can be obtained fromthe Provisional Liquidators at the address below.Dated this 6th day of August 2004.David John KennedyCosimo BorrelliJoint and Several Provisional LiquidatorsLeaburg Engineering LimitedRSM Nelson Wheeler Corporate Advisory Services Limited7/F Allied Kajima Building138 Gloucester RoadWanchaiHong KongTel: (852) 2598 5123Fax: (852) 2598 0060MANFAIR HOLDINGS: Creditors Meeting Set August 26-------------------------------------------------Notice is hereby given pursuant to Section 241 of the Hong KongCompanies Ordinance that a meeting of the creditors of ManfairHoldings Limited (In Creditors' Voluntary Liquidation) will beheld at the Conference Room, 5th Floor, Allied Kajima Building,138 Gloucester Road, Wanchai, Hong Kong at 4:45 p.m. listedbelow on 26 August 2004 for the purposes of considering Sections241, 242, 243, 244, 251(1)(a), 255A(2) and 283 of the CompaniesOrdinance.Creditors may vote either in person or by proxy.Proxies must be lodged at 7th Floor, Allied Kajima Building, 138Gloucester Road, Wanchai, Hong Kong not later than 4 p.m. on 25August 2004.OCEAN WORLD: Creditors Meeting Set August 26--------------------------------------------Notice is hereby given pursuant to Section 241 of the Hong KongCompanies Ordinance that a meeting of the creditors of OceanWorld Holdings Limited (In Creditor's Voluntary Liquidation)will be held at Conference Room, 5th Floor, Allied KajimaBuilding, 138 Gloucester Road, Wanchai, Hong Kong at 5:15 p.m.listed below on 26 August 2004 for the purposes of consideringSections 241, 242, 243, 244, 251(1)(a), 255A(2) and 283 of theCompanies Ordinance.Creditors may vote either in person or by proxy.Proxies must be lodged at 7th Floor, Allied Kajima Building, 138Gloucester Road, Wanchai, Hong Kong not later than 4 p.m. on 25August 2004.ORIENTAL GREAT: Creditors Meeting Slated for August 26------------------------------------------------------Notice is hereby given pursuant to Section 241 of the Hong KongCompanies Ordinance that a meeting of the creditors of OrientalGreat Limited (In Creditor's Voluntary Liquidation) will be heldat Conference Room, 5th Floor, Allied Kajima Building, 138Gloucester Road, Wanchai, Hong Kong at 5:45 p.m. listed below on26 August 2004 for the purposes of considering Sections 241,242, 243, 244, 251(1)(a), 255A(2) and 283 of the CompaniesOrdinance.Creditors may vote either in person or by proxy.Proxies must be lodged at 7th Floor, Allied Kajima Building, 138Gloucester Road, Wanchai, Hong Kong not later than 4 p.m. on 25August 2004.WING FUNG: Schedules Winding Up Hearing September 1---------------------------------------------------Notice is hereby given that a Petition for the Winding up ofWing Fung Construction (H.K.) Limited by the High Court of HongKong Special Administrative Region was on the 26 July 2004presented to the said Court by Lau Yee Ching of Flat 4, 26thFloor, Block F, Luk Yeung Sun Chuen, Tsuen Wan, New Territories,Hong Kong. The said Petition is directed to be heard before theCourt at 11:50 a.m. on 1 September 2004. Any creditor orcontributory of the said company desirous to support or opposethe making of an order on the said petition may appear at thetime of hearing by himself or his counsel for that purpose. Acopy of the petition will be furnished to any creditor orcontributory of the said company requiring the same by theundersigned on payment of the regulated charge for the same.TSANG, CHAN & WONGSolicitors for the Petitioner,16th Floor, Wing On HouseNo. 71, Des Voeux Road CentralHong KongNote: Any person who intends to appear at the hearing of thesaid petition must serve on or send by post to the above named,notice in writing of his intention so to do. The Notice muststate the name and address of the person, or if a firm or his ortheir Solicitor (if any) and must be served or if posted, mustbe sent by post in sufficient time to reach the above named notlater than six o'clock in the afternoon of the 31 August 2004.YUEN YIU: Issues Winding Up Petition------------------------------------Notice is hereby given that a Petition for the Winding up ofYuen Yiu Industrial Company Limited by the High Court of HongKong Special Administrative Region was on the 21 July 2004presented to the said Court by Ng King Chuen trading as Wai TatScrew And Metal Company and whose business address is situatedat Room 8, 11th Floor, Block 2, Chai Wan Industrial City, 70Wing Tai Road, Chaiwan, Hong Kong. The said Petition is directedto be heard before the Court at 9:30 a.m. on the18th day ofAugust 2004 and any creditor or contributory of the said companydesirous to support or oppose the making of an order on the saidpetition may appear at the time of hearing by himself or hiscounsel for that purpose. A copy of the petition will befurnished to any creditor or contributory of the said companyrequiring the same by the undersigned on payment of theregulated charge for the same.WONG AND CHANSolicitors for the Petitioner,Room 2106-08, 21st FloorTower I, Lippo Centre89 QueenswayHong KongNote: Any person who intends to appear at the hearing of thesaid petition must serve on or send by post to the above named,notice in writing of his intention so to do. The Notice muststate the name and address of the person, or if a firm or his ortheir Solicitor (if any) and must be served or if posted, mustbe sent by post in sufficient time to reach the above named notlater than six o'clock in the afternoon of the 17 August 2004.=================I N D O N E S I A=================BANK PERMATA: 20% Stake Sale Set Next Year------------------------------------------Once the 51-percent Bank Permata strategic stake sale iscompleted by the end of 2004, the government is proceeding withthe market placement of 20-percent Permata shares next year,reports Indoexchange.The tender process for the second divestment will begin afterthe bank's financial adviser, ABN Amro, completes its review ofthe divestment scheme.The final number of potential buyers, which rose from 10 to 18,will be announced on the deadline for request qualification onAugust 23.The state originally proposed to sell 71 percent of its sharesin Permata but later change the scheme, allocating 51 percent tostrategic investors and offering the remaining 20 percentthrough stock placement.CONTACT:PT Bank Permata Tbk.Gedung Bank BaliJalan Jendral Sudirman Kav. 27Jakarta 12920Telephone: 021-52377899 (hunting)Fax: 021-5237206/8MERPATI NUSANTARA: Foreign Investors Keen on Privatization----------------------------------------------------------The proposed privatization of Merpati Nusantara Airlines thisyear has attracted the attention of foreign investors, AsiaPulse says, citing Merpati commercial director Toto Nursatyo.The privatization plan, which was publicized through theinternational press and will be launched upon the parliament'sapproval, has caught the eye of several investors from Malaysia,Singapore and even oil companies in the Middle East.The state-owned carrier, which operates 42 aircraft serving 250domestic and regional routes at 127 flights per day, isstruggling to repay its debts despite booking an IDR1.57trillion (US$174.44 million) income last year.Merpati president Hotashi Nababan has announced earlier theairline's plan to divest a 49-percent stake to foreign investorsaimed at raising IDR600 billion to buy new aircraft.CONTACT:Merpati Nusantara AirlinesJl. Angkasa Blok B-15 Kav. 2-3Jakarta 10720 - IndonesiaTel: (021) 6548888Fax: (021) 6540620E-mail: firstname.lastname@example.com=========J A P A N=========ALL NIPPON: Establishes Small-size Fleet Operator Air Next----------------------------------------------------------Based on the ANA Group Mid-Term Corporate Strategy, the ANAGroup established Air Next, a low-cost fleet operator. This newcarrier will operate domestic flights for ANA with a fleet ofB737-500s based at Fukuoka Airport.(1) Company name: Air Next Co., Ltd.(2) President & CEO: Yoshitake, Ikuo(3) Paid-in capital: Y50 million(4) Shareholders: 100% Air Nippon Co., Ltd. (ANA nearly 100%owned subsidiary)(5) Headquarters: Tokyo, Japan(6) Business plan(i) Start of service: June 2005(ii) Aircraft: B737-500 leased from ANA (2 aircraft in operationby the end of March 2006, another 4 aircraft will be added bythe end of March 2008)(iii) Network: Serving Fukuoka- or Okinawa-based domestic routescurrently operated by the ANA Group(iv) Employees: Initially a staff of 40CONTACT:All Nippon Airways Co. Ltd.5-10 Hanedakuko 3-ChomeOhta-Ku 144-0041, Tokyo 100-6027JapanTelephone: +81 3 5756 5665/+81 3 5756 5679Web site: www.anaskyweb.comDAIEI INCORPORATED: Rehab To Focus on Groceries-----------------------------------------------Daiei Incorporated is considering closing down 60 loss-makingstores and open 80 new outlets as part of its new revitalizationprogram, says the International Herald Tribune.The struggling retailer giant will shut down most of its generalmerchandise business and replace them with grocery stores, whichrequire a relatively small investment but are very profitable.Daiei will infuse JPY100 billion in fresh capital to fund thenew undertaking.In order to raise the amount, Daiei plans to issue shares toinvestment funds and other parties. New grocery outlets will beset up mainly in the Tokyo metropolitan and the Kinki and Kyushuregions utilizing around JPY70 billion of the proposed capitalinfusion.Creditors are expected to approve the plan as they have beensuggesting that the major retailer concentrate in the foodstuffbusiness.Daiei, which operates 266 outlets nationwide, plans to closedown between 20 and 60 stores depending on the amount it securesfrom its creditors.CONTACT:The Daiei Incorporated4-1-1, Minatojima Nakamachi,Chuo-ku, Kobe, 650-0046JapanPhone: +81-78-302-5001Fax: +81-78-302-5572Website: www.daiei.co.jpJEI SHI: Enters Bankruptcy--------------------------Jei Shi Emu K.K. has entered bankruptcy, according to TeikokuDatabank America. The firm, which engaged in relay switches,switchboards and electrical control equipment business, hastotal liabilities of US$86.42 million. The company is based inHimeji-Shi, Hyogo 672-8040.KITABUN KOPORESHON: Faces Insolvency------------------------------------According to Teikoku Databank America, Kitabun Koporeshon K.K.has entered bankruptcy. The building and house sales agent,which is based in Himeji-Shi, Hyogo 672-8040, Japan has totalliabilities of US$129.17 million.MATSUSHITA ELECTRIC: Denies Hitachi Tie-up Report-------------------------------------------------Matsushita Electric Industrial and Hitachi Limited havedismissed reports about a tie-up plan for the joint productionof large crystal display (LCD) panels for flat-screentelevisions, Channel News Asia reports.The Nihon Keizai newspaper has reported last week that bothparties were negotiating on how to share the JPY100-billion(US$895 million) investment for a new LCD plant proposed to beconstructed in Mobara, Japan in 2006. Japan's ToshibaCorporation is likely to join the venture as well.According to the paper, the move is aimed at challenging S-LCDCorporation, a 50-50 partnership by Samsung and Sony, launchedlast month in Tengeong, Korea.The two electronic giants, however, admitted they have discussed"various business possibilities" but have not yet reached adecision on the matter.CONTACT:Matsushita Electric Industrial Co., Ltd.1006 Oaza KadomaKadoma, Osaka 571-8501,JapanPhone: +81-6-6908-1121Fax: +81-6-6908-2351Website: www.matsushita.co.jpMITSUBISHI MOTORS: Posts Environmental Sustainability Report------------------------------------------------------------Mitsubishi Motors Corporation (MMC) on August 5 published itsEnvironmental Sustainability Report 2004, which details thecompany's environmental stewardship activities and achievementsduring fiscal 2003.The company produced the first ESR in 1999 with the aim ofkeeping stakeholders informed about the environmentalramifications of its business activities and the measures it istaking to reduce their impact on the environment. ESR 2004 marksthe sixth edition of this annual publication.ESR 2004 includes more detailed information on the company'sactivities in the field of fuel-cell car development and design.New to this year's edition are sections on environmental stepsbeing taken by the company's affiliated production facilitiesboth in Japan and other countries, on corporate ethics and oncustomer communications. In addition, ESR 2004 updatesinformation on the company's environmental stewardshipachievements in production, logistics, recycling and otherfields. ESR 2004 uses Forest Stewardship Council-approved paperto reduce the environmental impact of printing.Environmental stewardship highlights in 2003Mitsubishi FCV fuel-cell vehicle prototype starts on-roadtesting. The new Grandis model gains ultra-low emission vehicle(U-LEV) certification. 95.7% of MMC gasoline models sold infiscal 2003 were LEV certified, a significant increase over the79.4% for the previous year.Waste resource recovery reached 99.5%. The company maintainedits zero landfill waste disposal record at all domesticproduction facilities, a target first achieved in fiscal 2001.At the end of fiscal 2003, 86.7% of MMC suppliers (352companies) had acquired ISO 14001 certification.The company continued to promote communications with children onenvironmental matters. This included the publication of aJapanese-language booklet titled "The Environment and AutoManufacturing" and the addition of more environment-relatedcontent to the Kid's Square website section for juniorschoolchildren.The Japanese language ESR 2004 has been published on the MMCwebsite today and may be accessed at the URL given below. A hardcopy version is available on request. The English languageversion of ESR 2004 is due to be published towards the end ofAugust.CONTACT:Mitsubishi Motors Corporation2-16-4 Konan, Minato-kuTokyo, 108-8410, JapanPhone: +81-3-6719-2111Fax: +81-3-6719-0014http://www.mitsubishi-motors.co.jpMITSUBISHI MOTORS: Posts Investigations' Updates------------------------------------------------In a press release, Mitsubishi Motors once again apologized forthe trouble it had caused in relation to past repair directivesand subsequent post-market measures.The company firmly believes that to rebuild its operations undera new management it must first dig up all quality-relatedproblems rooted in the past and ensure that such problems neverhappen again. Only then will it be able to put this newstructure for legal compliance to work as part of our businessrevitalization plan.Extended investigation into past repair directivesFollowing an announcement on June 2 regarding 92 cases of pastrepair directives dating back to December 1993, MMC filed sevenweekly reports to the Japanese Ministry of Land, Infrastructureand Transport on its progress in dealing with the issue. On July29, the company finalized all submissions for 35 of the 92 casesthat required recalls or improvement measures. MMC will continueits investigations to ensure nothing has been overlooked.Internal investigation into cause and background of qualityproblemsMMC's Corporate Social Responsibility Promotion Office hasemployed a group of 13 external lawyers to look into the causeof the company's quality problems. Although subject to change asthe investigation develops, the main areas the group is lookinginto include:The internal decision making process for past repair directivesand the way in which they were carried out.Why it was decided in 2000 to only look into repair directivesdating back to April 1998.Why the company's investigations and reports were limited anddidn't include the 92 new cases.The company's corporate culture at the time that allowed this tooccur.The legal group will provide regular reports to the BusinessEthics Committee and steer its investigations in consultationwith the committee.In a separate move, MMC and Mitsubishi Fuso have gatheredtogether a group of lawyers to look into the wheel hub andclutch housing problems at Mitsubishi Fuso. MMC believes that,while this problem is related to truck and bus operations, it isimportant to gain accurate information on the issue to createmeasures to prevent a similar situation from occurring again.Upcoming plansMMC plans to report the findings of its extended investigationinto past repair directives and defect information on August 26based on a detailed analysis of the defects and post-marketmeasures. To prevent a similar situation from occurring in thefuture, the CSR Promotion Office will use the lessons learnedthrough the company's extended investigations in its supervisoryrole over the Quality Assurance Office.The company will also expand the scope of its investigationsinto the cause and background of quality problems as needed,which makes it hard to determine the timing of the final reportat this stage.Once the findings of the investigation are known, the CSRPromotion Office will take the lead to draw up a plan to preventfuture occurrences and clarify responsibilities. The office willalso report its plans to the Business Ethics Committee and askfor feedback.Public announcements will be made as soon as possible takinginto consideration the progress of ongoing judicial proceedings.SANYO ELECTRIC: JCR Assigns AA to Bonds---------------------------------------JCR has assigned AA ratings to the two series of bonds to beissued under the shelf registration of the issuer.Issuer: Sanyo Electric Co., Ltd.Issues Amount(bln) Issue Date Due Date Couponbonds no.19 JPY30 Aug. 26,2004 Aug. 26,2011 1.52%bonds no.20 JPY30 Aug. 26, 2004 Aug. 26, 2014 2.02%Covenants: Negative PledgeCommissioned Company: NoShelf Registration:Maximum: JPY100 billionValid: two years effective from July 8, 2003Rationale:JCR announced the affirmation of AA rating for Sanyo Electric inMarch this year, assuming improvement in financial structurewould be made thanks to expansion in earnings for fiscal 2004.The operating profit for the 1st quarter of fiscal 2004decreased a year-on-year 17% to 13.6 billion yen. Rise in priceof raw materials as well as fall in sales price put downwardpressure on the earnings. In particular, earnings fromelectronic devices and batteries dropped sharply. SanyoElectric says that the operating results for the 1st quarterwere as expected by it. It has not revised the forecasts for theperformance for fiscal 2004, anticipating recovery of electronicdevices in and after the 2nd quarter. JCR will watch carefullythe going of the plan.CONTACT:SANYO Electric Co., Ltd.5-5 Keihan-Hondori, 2-chomeMoriguchi, Osaka 570-8677,JapanPhone: +81-6-6991-1181Fax: +81-6-6991-6566Website: www.sanyo.co.jpSHOWA DENKO: Revises H1 Performance Forecast for 2004-----------------------------------------------------In view of the recent trends of its businesses, Showa Denko K.K.(TSE: 4004; "SDK") announces a revision of its performanceforecast for the first half of 2004. The earlier forecast, madepublic on February 17, 2004 on the occasion of the announcementof the 2003 business results, has been revised as in the tablesbelow.(1) Consolidated basis (For the period from January 1 to June30, 2004) (Unit: Y100 million, %) Previous Revised First Half Full Year Forecast Forecast Change % 2003 2003Net sales 3,400 3,482 82 2.4 3,456 6,894Operating income 190 222 32 16.8 161 385Ordinary income 120 162 42 35.0 105 238Net income 37 63 26 70.3 38 103(2) Non-consolidated basis (For the period from January 1 toJune 30, 2004) (Unit: Y100 million,%) Previous Revised Fist Half Full Year Forecast Forecast Change % 2003 2003Net sales 2,300 2,453 153 6.7 2,270 4,620Operating income 115 154 39 33.9 99 229Ordinary income 70 114 44 62.9 65 130Net income 33 57 24 72.7 19 50(3) Background for the revisionNet sales for the first half of 2004 will be higher than theearlier forecast both on a consolidated and non-consolidatedbasis. This is because the Petrochemicals segment's sales haveincreased as a result of larger shipment volumes and higherselling prices, which reflect rising raw material costs.Operating income for the half-year term will also be higher thanthe initial forecast both on a consolidated and non-consolidatedbasis owing to increases in shipment volumes and selling pricesin the Petrochemicals and Inorganic Materials segments.Due mainly to the increase in operating income, both ordinaryincome and net income will increase on a consolidated and non-consolidated basis.We will announce the results for the first half of 2004 onAugust 10. On that occasion, we will also announce ourperformance forecast for the full-year of 2004.About Showa Denko K.K.Showa Denko is a major manufacturer and marketer of chemicalproducts serving a wide range of fields ranging from heavyindustry to the electronic and computer industries. The companymakes petrochemicals (ethylene, propylene), aluminum products(ingots, rods) electronic equipment (hard disks for computers),and inorganic materials (ceramics, carbons). The company hasoverseas operations and a joint venture with Netherlands-basedMontell and Nippon Petrochemicals to make and marketpolypropylenes. In March 2001, SDK merged with Showa DenkoAluminum Corporation to strengthen the high-value-addedfabricated aluminum products operations, and is today developingnext-generation optical communications-use wafers.On March 2003, Japan Credit Rating Agency (JCR) has assigned aBBB- rating to the bonds of Showa Denko K.K.. The companyincreased the operating profit and pretax profit for fiscal 2003ended December 31, 2003, following the previous fiscal year.Rise of digital home appliances and increase in earnings fromhard disk operations derived from acquisition of the businessoperation improved the profits for two years in a row. Althoughthe financial structure remains weak, it has improved with theinterest-bearing debt being reduced.CONTACT:Showa Denko K.K.IR & PR Group, Nobuhiro KatoPhone: +81-3-5470-3235E-mail: firstname.lastname@example.com HOLDINGS: Posts Q1 Consolidated Financial Results--------------------------------------------------------Sojitz Holdings Corporation posted its consolidated financialresults for the first quarter ended June 30, 2004.Net sales in the 1st quarter of fiscal 2004 amounted to 1,214.0billion yen, logging a progress of 41.4% vis-a-vis thesemiannual forecast initially announced in May 14, 2004, and wasimpacted by the reduction of low-profit transactions in energyrelated business. Gross trading profit was 58.8 billion yen,which is equal to the results for the 1st quarter in fiscal2003, recording progress of 44.4% vis-a-vis the semi-annualforecast.SG&A expenses of 43.5 billion yen resulted in an operatingincome of 15.3 billion yen. A Recurring Profit of 13.9 billionyen was appropriated, marking a progress of 40.9% vis-a-vis thesemi-annual forecast figure, due to increasing equity in gainsof unconsolidated subsidiaries and affiliates in accordance withfavorable earnings at unconsolidated subsidiaries andaffiliates, accounted for by the equity method. With anextraordinary net loss amounting to 0.6 billion yen, a netincome (after taxes) of 9.8 billion yen, logging a progress of49.0% vis-a-vis the semi-annual forecast, was recorded in thefirst quarter.To view the complete financial statement, please click on:http://bankrupt.com/misc/TCRAP_SOJITZ080904.pdfCONTACT:Sojitz Holdings Corporation1-23,Shiba 4-chome, Minato-kuTokyo, 108-8405, JapanPhone: +81-3-5446-111Fax: +81-3-5446-1365www.sojitz-holdings.comUFJ HOLDINGS: Releases Q1 Financial Results for 2004----------------------------------------------------UFJ Holdings Incorporated has released its financial statementfor the first quarter of 2004.The firm booked a net loss of JPY91.5 billion mainly due tocredit-related expenses. Business profits excluding bond gainsare on the right track with JPY20.9 billion from June 3.Increase in reserves for the large troubled borrowers resultedin JPY306.1 billion of credit related expenses. Problem loans,likewise, increased to JPY4.62 trillion due to downgrade oflarge troubled borrowers. Unrealized gains on stock increasedwhile unrealized losses on bonds expanded due to a rise in theinterest rates.To view the complete financial statement please click on:http://bankrupt.com/misc/TCRAP_UFJ080904.pdfCONTACT:UFJ Holdings, Inc.5-6, Fushimimachi 3-chome,Chuo-ku, Osaka-shi,Osaka 541-0044,Japanwww.ufj.co.jp=========K O R E A=========HANARO TELECOM: Discloses Open Interest Balance of Derivatives--------------------------------------------------------------In a disclosure to the U.S. Securities and Exchange Commission(SEC), Hanaro Telecom Inc. issued a fair disclosure relating toits forward exchange transaction, filed with the KoreaSecurities Dealers Association Automated Quotation Market(KOSDAQ) on August 3, 2004.OPEN INTEREST BALANCE OF DERIVATIVES[Changes]1. Object of Trading Currency Forward Transaction (JPY)2. Open Interest Balance Reported Prior to This Time (a+b) KRW 279,993,334,856 a. Amount of Purchase KRW 279,993,334,856 b. Amount of Sale None - Ratio to Total Assets (%) 8.28%3. Amount of Change (a+b) decreased by KRW 24,888,424 a. Amount of Purchase decreased by KRW 24,888,424 b. Amount of Sale None4. Ratio of Change a. Ratio to Total Assets 0.00% b. Ratio to Open Interest Reported -0.01% Prior to This Time5. Reasons for Change: A new foreign currency forward contract &settlement of the previous contract.6. Date of Change: August 2, 20047. Total Assets at the End of Preceding: KRW 3,381,922,386,883 Business Year (2003)8. Others: On August 2, 2004, Hanaro Telecom, Inc. entered intoa foreign currency forward contract due on August 17, 2004,whereby the Company buys JPY equivalent to KRW 20,000,000,000from KoRam Bank (based on KRW/ 100 JPY = 1155.60).On the same date, the foreign currency forward contract with KDBand CALYON, which was initially entered into on July 2, 2004 forthe amount of KRW 20,000,000,000, has been settled.The amount of change refers to the difference between thesettlement amount on August 2, 2004 (entered into on July 2,2004 for the amount of KRW 20,056,114,327) and the amount of thenew transaction entered into on August 2, 2004 for the amount ofKRW 20,031,225,903, which is due on August 17, 2004.CONTACT:Hanaro Telecom HeadquartersShindongah Fire & Marine Insurance Building 43, Taepyeongno2-Ga,Jung-Gu, Seoul 100-733 KoreaTel: 82-106Fax: 82-2-6266-4399E-mail: email@example.com TELECOM: Making a Big Push into Broadband TV---------------------------------------------------Hanaro Telecom Inc. will launch a broadband TV service in orderto establish itself as a leading multimedia provider, TelecomsKorea reports, citing Hanaro Inc. President Yoon Chang-bun.A pilot service that integrates telecommunications, broadcastand home network will be launched through xDSL networks in Seouland its surrounding areas by the end of this year.The company expects to swing to a net profit of KRW500 millionon revenue of KRW1.5 trillion this year. Last year, the Companyposted a net loss of KRW165.3 billion on revenue of KRW1.38trillion.HYNIX SEMICONDUCTOR: STMicroelectronics to Buy US$200M Bonds------------------------------------------------------------Geneva-based STMicroelectronics NV, which is in talks with HynixSemiconductor Inc. to build joint venture chip plant in China,has agreed to buy US$200 million convertible bonds issued by thechipmaker, according to Reuters, citing the Korea EconomicDaily.Creditors of Hynix will vote this week on the China project,which would give ST and Hynix an entry into China's US$30billion semiconductor market.CONTACTS:STMicroelectronics NV1228 Plan-Les-OuatesGeneva, FRANCETel: +41 22 929 29 29Tel: +41 22 929 29 00Hynix Semiconductor IncorporatedSan 136-1 Ami-ri Bubal-eup Ichon-siGyeonggi, KYONGGI-DO 467-866Korea (South)Tel: +82 31 630 4114Tel: +82 31 630 4101HYNIX SEMICONDUCTOR: Receives Partnership Performance Award-----------------------------------------------------------Hynix Semiconductor Inc. announced it was awarded a fourth-yearPartner in Performance award by Celestica, a world leader inelectronics manufacturing services (EMS), for its contributionto the company in 2003, Business Wire reports."Hynix is proud to be recognized by Celestica," said GarySwanson, senior vice president of sales at Hynix SemiconductorAmerica. "Hynix is very pleased to receive the Partners inPerformance Award for the fourth consecutive year. We value ourpartnership with Celestica and together we will continue toprovide leading technology solutions for customers."Celestica's Partners in Performance awards are given annually tothe company's suppliers, in recognition of their support ofCelestica's supply chain management objectives and dedication tocustomer service. The 2003 Partners in Performance winnersdemonstrated flexibility and responsiveness, impact on assetmanagement, effectiveness and efficiency, and overallperformance excellence."In 2003, the level of flexibility and responsivenessdemonstrated by Hynix in response to our supply chainrequirements, enabled Celestica to operate as a seamlessextension of our customers' global operations," said RobertShanks, Chief Supply Chain and Procurement Officer, Celestica."We're proud to recognize Hynix as a fourth-year Partners inPerformance award winner, in recognition of the company'scontribution to our success in the EMS industry."About Hynix Semiconductor Inc.Hynix Semiconductor Inc. (HSI) of Ichon, Korea, is one of theleading companies in the development, sales, marketing anddistribution of high-quality semiconductors, including DRAM,SRAM, Flash memory and system IC devices. Hynix Semiconductor isthe world's top tier DRAM supplier with eleven manufacturingfabs worldwide, and production capacity of over 360,000 waferstarts per month. Hynix maintains worldwide development,manufacturing, sales and marketing facilities. Furtherinformation about Hynix is available at www.hynix.com.JINRO LTD: NLRC Unable to Bridge Gap Between Union, Management-------------------------------------------------------------- The National Labor Relations Commission (NLRC) was unable tobridge the gap between the labor union and the management ofJinro Limited, Yonhap News reports.This raises the possibility that workers at the soju distillermay go on strike, which could cause serious problems for thedomestic alcohol market.Merrill Lynch was recently selected as the preferred manager toarrange the sale of Jinro Ltd., TCR-AP reported in its 145thedition.Jinro picked the global investment bank and consulting firm asthe prime lead-manager candidate over two rivals namely ABN AMROSecurities and a consortium of Samsung Securities Co. andCitibank. A final decision will be made soon, Jinro said.CONTACT:Jinro Limited1448-3 Seocho-dong Seocho-guSeoul, SEOUL 137-866KOREA (SOUTH)Tel: +82 2 520 3114Tel: +82 2 520 3453===============M A L A Y S I A===============BOUSTEAD HOLDINGS: Issues Additional 20,000 Ordinary Shares-----------------------------------------------------------Boustead Holdings Berhad's additional 20,000 new ordinary sharesof RM0.50 each issued pursuant to the employees' share optionscheme will be granted listing and quotation with effect from9.00 a.m., Tuesday, 10 August 2004.CONTACT:Boustead Holdings Berhad28th Floor Menara Boustead69 Jalan Raja Chulan50200 Kuala Lumpur, WPMalaysiaWeb address (URL): http://www.boustead.com.myTel: 603-2419044Fax: 603-2419750CHG INDUSTRIES: Answers BMSB Query----------------------------------Pursuant to a letter from the Bursa Malaysia Securities Berhaddated 4 August 2004 requiring CHG Industries Berhad to furnishthe Exchange the details of the events leading to the grant ofthe court order dated 2 August 2004, announced by the Company on2 August 2004, the Company responded thereto as follows:A. Indebtedness of CHG Group1. On 6 September 2001, CHG announced that it is an affectedlisted issuer pursuant to Practice Note 4/2001 (PN 4) (Criteriaand Obligations Pursuant to Paragraph 8.14 of the ListingRequirements of Bursa Malaysia) issued by Bursa Securities.2. As at 31 December 2003, the CHG Group's total indebtedness totheir financial institution creditors (FI Creditors) isestimated to be in the amount of RM190,236,292.00. At the sametime, the CHG Group is indebted to unsecured suppliers (whichfor these purposes, means suppliers who are each owed a sumexceeding RM50,000.00 and which are hereinafter referred to asNon-FI Creditors) a total sum of approximately RM38,500,000.00.B. Events Leading Up to Restraining Order(I) Previous Attempt at Debt Restructuring3. The CHG Group had previously made attempts to restructuretheir debts with the FI Creditors. In this respect, CHG, CHGPlyand CHT had entered into a debt restructuring agreement (DRA)dated 9 July 2003 with the FI Creditors pursuant to which theCHG Group agreed to settle their respective indebtedness to theFI Creditors in such manner and upon such terms and conditionsas contained in the DRA.4. However, by reason of financial constraints, in particular asevere cash flow problem, the CHG Group was unable to implementthe restructuring of their debts pursuant to the DRA and hadsubsequently defaulted on the interest payments as stipulated inthe DRA.5. Following the said default, on or about 26 April 2004, EONBank Berhad, one of the FI Creditors, gave notice vide letter toterminate the DRA.(II) Present Revised Restructuring Scheme6. As has been announced to the Exchange on 29 April 2004, CHGwas then in the midst of finalizing revised restructuringschemes to regularize its financial position and to restructureits debts.7. Further to the announcement above, the CHG Group entered intoa restructuring agreement dated 3 June 2004 (RA) with, amongstothers, one Linmax Group Sdn Bhd (Linmax) to undertake acorporate and debt restructuring exercise (the ProposedRestructuring).8. The proposals contemplated in the Proposed Restructuringpursuant to the RA include, inter alia, the proposed transfer ofCHG's listing status on the Main Board of Bursa Securities toLinmax and the following proposed schemes of arrangement underSection 176 of the Companies Act, 1965:8.1 a scheme of arrangement for the members of CHG involving areduction in the issued and paid up capital of CHG fromRM47,850,002.00 to RM4,785,000.00 and thereafter, an acquisitionby Linmax of the entire issued and paid up capital of CHG uponthe completion of the proposed capital reduction aforesaid,pursuant to which the members of CHG will exchange their sharesin CHG for new ordinary shares in Linmax; and8.2 the settlement of debts owing by the CHG Group to theircreditors, via:(i) A scheme of arrangement and compromise for FI Creditors asparticularized in the RA;(ii) A scheme of arrangement and compromise for the Non-FICreditors.9. The Proposed Restructuring was announced to the Exchange on 4June 2004.(III) Restraining Order Necessary10. The said schemes of arrangement and compromise are pendingformalization for the consideration and approval of the membersof CHG and the relevant classes of creditors at statutorymeetings to be convened pursuant to Section 176(1) of theCompanies Act, 1965. In this regard, the CHG Group has presenteda paper to the FI Creditors in respect of the ProposedRestructuring and the same is presently under discussions withthe FI Creditors. Pending formalization of the said schemes ofarrangement:10.1 any proceedings and/or action commenced against any one ofthe companies within the CHG Group is likely to frustrate theimplementation of the Proposed Restructuring;10.2 such proceedings and/or action will trigger a scramble toenforce claims against the respective companies within the CHGGroup and may culminate in the liquidation of any one or all ofthem; and10.3 as such, a restraining order pursuant to Section 176(10) ofthe Companies Act, 1965 was necessary to enable the CHG Group tofocus their efforts on formalizing the said proposed schemes ofarrangement and compromise unhindered by the probability ofhaving to divert their attention and resources to defending ordealing with any such proceedings and/or actions from theircreditors.11. In point of fact, after the filing of the application forthe restraining order aforesaid and prior to the hearing of thesaid application, letters of demand have been issued to therelevant companies within the CHG Group from certain of the FICreditors requiring repayment, one of which threatens legalproceedings for recovery in the event that the demand is notmet.12. To compound matters, on or about 27 July 2004, CHG receivedtwo notices dated 27 July 2004 from Bursa Securities. The firstof the two said notices, inter alia, gave notice to CHG that thetrading in the securities of CHG will be suspended with effectfrom 4 August 2004 until further notice. The second of the twosaid notices is a notice to CHG to show cause as to why thesecurities of CHG should not be de-listed from the Official Listof Bursa Securities, and that in this respect, CHG is requiredto make written representations to Bursa Securities. The noticeswere announced by CHG to Bursa Securities on 27 July 2004.13. In light of the above, the Proposed Restructuring will beseverely jeopardized if the restraining order applied for is notin place. As announced on 2 August 2004, the order obtained on 2August 2004 is with the express proviso that the said ordershall not apply to any proceedings by Bursa Securities unlessotherwise ordered by the Court. In this regard, also asannounced on 2 August 2004, the learned Judge has allowed theintervention of Bursa Securities by consent and has fixed23.9.2004 to hear submissions by the CHG Group and BursaSecurities on the issue of whether the restraining orderencompasses Bursa Securities.CONTACT:CHG Industries Berhad8th Mile Jalan Cheras43200, SelangorMalaysiaTel: 603-9058811Fax: 603-9053350CONSOLIDATED FARMS: Issues Monthly Status Update------------------------------------------------Further to the monthly status announcement under Practice NoteNo. 1/2001 on 2 August 2004, Consolidated Farms Berhad (Confarm)announced that the Group is unable to pay the additionalprincipal and/or interest in respect of its credit facilities asset out in Table 1(http://bankrupt.com/misc/tcrap_consolidatedFarms0809.doc)The Company and its financial advisors, Deloitte KassimChanBusiness Services Sdn Bhd, have met with the respective lendersto apprise them on Confarm Group's current financial conditionand have sought their indulgence and consideration to provide astandstill period in respect of the Group's credit facilitiesfor it to carry out a financial review and, if appropriate,formulate a restructuring/workout scheme.This announcement is dated 6 August 2004.FABER GROUP: Grants Listing of 395,000 Ordinary Shares------------------------------------------------------Faber Group Berhad's additional 395,000 new ordinary shares ofRM1.00 each issued pursuant to the conversion of RM790,000nominal value of 2000/2005 irredeemable convertible unsecuredloan stocks into 395,000 new ordinary shares will be grantedlisting and quotation with effect from 9.00 a.m., Tuesday, 10August 2004.CONTACT:Faber Group BerhadJalan Desa BahagiaTaman Desa Off Jalan Klang Lama, Kuala Lumpur 58100MALAYSIATel: +60 3 7628 2888Tel: +60 3 7628 2828FABER GROUP: Unit Appoints Liquidator-------------------------------------Faber Group Berhad (FGB) announced that Intensive Quest Sdn Bhd(IQSB), a 63% owned subsidiary company of the Company, has beenplaced under members' voluntary liquidation (the MVL) followingthe passing of a special resolution by its members at anextraordinary general meeting held on 5 August 2004.Encik Mohamad bin Abdullah has been appointed as liquidator forthe purpose of the MVL.The MVL of IQSB is in line with the provisions of theShareholders' Agreement in respect of IQSB dated 8 April 2004between FGB and Medlux Overseas (Guernsey) Limited (MOG), inwhich FGB and MOG have mutually agreed to voluntarily wind-upIQSB in accordance with applicable laws of Malaysia.The MVL of IQSB is not expected to have a material effect on theearnings or net tangible assets of the Faber Group for thefinancial year ending 31 December 2004.This announcement is dated 6 August 2004.HAP SENG: Issues Resale, Cancellation of Treasury Shares Notice---------------------------------------------------------------In a disclosure to Bursa Malaysia Securities Berhad, Hap SengConsolidated Berhad issued a notice of Resale and Cancellationof Treasury Shares.Date of transaction: 05/08/2004Total number of treasury shares sold (units):Total number of treasury shares cancelled (units): 67,000Minimum price paid for each share sold (RM):Maximum price paid for each share sold (RM):Total amount received for treasury shares sold (RM):Cumulative net outstanding treasury shares as at to-date(units): 32,913,100Adjusted issued capital after cancellation/resale (no. ofshares) (units): 589,746,900Remarks:cc: Securities CommissionCONTACT:Hap Seng Consolidated BerhadNo 1A Jalan 205Petaling Jaya, Selangor Darul Ehsan 46050MALAYSIATel: +60 3 7783 9888Tel: +60 3 7781 6305HHB HOLDINGS: Seeks Extension of Regularization Plan----------------------------------------------------On 28 June 2004, Public Merchant Bank Berhad (PMBB), hadannounced on behalf of HHB Holdings Berhad (HHB), that anapplication had been submitted to Bursa Securities for extensionof time for HHB to make its Requisite Announcement pursuant toParagraph 6.1(a) of PN10.PMBB, on behalf of HHB, wishes to announce that Bursa Securitieshad vide its letter dated 5 August 2004, stated that it shallcommence de-listing procedures against HHB upon the expiry ofsix (6) months period from the last day of the extendedtimeframe (30 June 2004) granted by Bursa Securities pursuant toPN10 if HHB has still not submitted its regularization plans tothe relevant authorities.This announcement is dated 5 August 2004.KSU HOLDINGS: Bursa Malaysia to Delist Securities-------------------------------------------------After having considered all the facts and circumstances of thematter and upon consultation with the Securities Commission,Bursa Malaysia Securities Berhad (Bursa Securities), has decidedto de-list the securities of KSU Holdings Berhad from theOfficial List of Bursa Securities as the Company does not havean adequate level of financial condition to warrant continuedlisting on the Official List of Bursa Securities.Accordingly, please be informed that the securities of theCompany will be removed from the Official List of BursaSecurities at 9.00 am on Thursday, 19 August 2004.With respect to the securities of KSU, which are currentlydeposited with the Bursa Malaysia Depository Sdn Bhd (BursaDepository), the securities may remain deposited with the BursaDepository notwithstanding the de-listing of the securities fromthe Official List of B0ursa Securities. It is not mandatory forthe securities of a company, which has been de-listed to bewithdrawn from Bursa Depository.Alternatively, shareholders of KSU who intend to hold theirsecurities in the form of physical certificates, can withdrawthese securities from their Central Depository System (CDS)accounts maintained with the Bursa Depository at anytime afterthe securities of KSU has been de-listed from the Official Listof Bursa Securities. This can be effected by the shareholderssubmitting an application form for withdrawal in accordance withthe procedures prescribed by Bursa Depository. Theseshareholders can contact any participating organizations ofBursa Securities and/or Bursa Depository's helpline at 03-20717711 or 03-20717723 for further information on thewithdrawal procedures.Date: 4 August 2004KSU HOLDINGS: Financial Condition Unchanged-------------------------------------------Further to KSU Holdings Berhad's announcement dated 20th August2003, 10th September 2003, 9th October 2003, 10th November 2003,5th December 2003, 2nd January 2004, 4th February 2004, 1stMarch 2004, 1st April 2004, 5th May 2004, 1st June 2004 and 5July 2004, the Company wishes to inform that as of to date,there has been no further development on its plan to regularizeits financial condition.This announcement is dated 5 August 2004.PERNAS INTERNATIONAL: Changes Name to Tradewinds Corporation------------------------------------------------------------The Bursa Malaysia Securities Berhad announced that PernasInternational Holdings Berhad has changed its name to"Tradewinds Corporation Berhad". As such, Pernas' securitieswill be traded and quoted under the new name with effect from9.00 a.m., Monday, 9 August 2004.The Stock Short Names will be changed as follows:Securities OldStock Short Name NewStock Short Name(i) Ordinary Shares(ii) Warrants PERNASPERNAS-WAPERNAS-WBPERNAS-WC TWSCORPTWSCORP-WATWSCORP-WBTWSCORP-WCHowever, the Stock Numbers remain unchanged.CONTACT:Pernas International Holdings BerhadJalan Raja LautKuala Lumpur, Kuala Lumpur 50350MalaysiaTel: +60 3 2693 5177Tel: +60 3 2691 4486PILECON ENGINEERING: Unit Releases Default Status Update--------------------------------------------------------Further to the announcement made by Pilecon Engineering Berhad(BEB) on 5 July 2004 with regards to the status of default inpayment pursuant to Practice Note 1/2001 by its subsidiary,Transbay Ventures Sdn Bhd (TVSB), PEB wishes to hereby announcethat there have not been any changes to the status of defaultsince then.PROMTO BERHAD: Discloses Details of Restraining Order-----------------------------------------------------Promto Berhad Berhad wishes to notify Bursa Malaysia SecuritiesBerhad (Bursa Malaysia) that the Company and its subsidiarieshave been granted a restraining order (RO) for a period of 90days effective from 6 August 2004 to 4 November 2004 by theKuala Lumpur High Court pursuant to Section 176 (10) of theCompanies Act, 1965.Collectively to be referred as (Effected Subsidiaries) are:1. Promto Properties Sdn Bhd2. Syarikat Lee Engineering (Kota Bahru) Sendirian Berhad3. Promto-Sikojaya Sdn Bhd4. Chee Keong (Malaysia) Sdn Bhd5. Ipoh Pipe Industries Sdn Bhd6. Milnes Technology Sdn Bhd7. Jasa Timor Sendirian Berhad8. Fuller Cms Sdn Bhd9. Louvre Products Industries Sdn Bhd10. Goodlite Trading Sdn BhdThe Company does not expect the RO to have any material effecton the financial and operational matters of Promto Berhad andthe Effected Subsidiaries.This Bursa Malaysia announcement is dated 6 August 2004.TALAM CORPORATION: Issues 231,700 Ordinary Shares-------------------------------------------------Talam Corporation Berhad's additional 231,700 new ordinaryshares of RM1.00 each issued pursuant to the Conversion of2,317,000 irredeemable convertible preference shares into231,700 new ordinary shares will be granted listing andquotation with effect from 9.00 a.m., Monday, 9 August 2004.CONTACT:Talam Corporation BerhadJalan Pandan Indah 4/2 Pandan IndahKuala Lumpur, 55100MALAYSIATel: +60 3 4296 2000Tel: +60 3 4297 7220UNITED CHEMICAL: Releases Default Status Update-----------------------------------------------The Board of Directors of United Chemical Industries Berhad(UCI) announced that further to the announcement made on 9 July2004, there are no new significant developments in relation tothe various default in payment.The Board of Directors of UCI would like to further provide anupdate on the details of all facilities currently in default incompliance with Section 3.1 of Practice Note No. 1/2001.For the list of outstanding loans defaulted, go to(http://bankrupt.com/misc/tcrap_unitedchemical080904.xls)This announcement is dated 6 August 2004.YCS CORP.: Issues Details of Delisting--------------------------------------Further to the Announcement made on June 30, 2004 on the aboveissue, YCS Corporation Berhad would like to state that it iscurrently in the midst of preparing a written representation toBursa Malaysia Berhad as to why the securities of the Companyshould not be de-listed from the Official List of Bursa MalaysiaBerhad.Further development will be announced accordingly.CONTACT:YCS Corporation BerhadTaman Perindustrian UEP Subang JayaSubang Jaya, Selangor Darul Ehsan 47600MALAYSIATel: +60 3 80242922Tel: +60 3 80242911=====================P H I L I P P I N E S=====================BAYAN TELECOMMUNICATION: Secured Creditors Oppose Court Ruling--------------------------------------------------------------Secured creditors of Bayan Telecommunications Inc. (BayanTel)have filed an appeal against the recent court approval of thetelco's financial rehabilitation "for being contrary to law andevidence on record", according to a BusinessWorld report.Bayantel's secured creditors include Asian Finance andInvestment Corp., Bayerische Landes-bank (Singapore Branch),Clearwater Capital Partners Singapore Pte. Ltd., Deutsche BankAG, Express Investments III Private Ltd., Export DevelopmentCanada, J.P. Morgan Chase Bank, P.T. Bank Negara Indonesia (HongKong Branch), Standard Chartered Bank, and local banksMetropolitan Bank and Trust Co. and Rizal Commercial BankingCorp.The creditors said the Pasig court's decision was illegal forputting all BayanTel creditors, with or without collateral, onequal footing even in terms of getting payments.Local banks China Banking Corp. and Philippine National Bankalso filed a separate notice of appeal.Secured creditors account for 52.6 percent of BayanTel's totaldebts, with unsecured creditors accounting for the rest.CONTACT:Bayan Telecommunications Inc,Investor Relations 3/F BayantelCorporate Center Maginhawa cornerMalingap Streets Teacher's Village East,Diliman Quezon City 1101,Website: http://www.bayantel.com.ph/MAYNILAD WATER: $30Mln Bond Draw Could Increase Water Tariff------------------------------------------------------------An increase in water tariff is expected with the government'sdecision to draw US$30 million on Maynilad Water Services Inc.'sUS$120-million performance bond, reports BusinessWorld.The actual expected increase is estimated at PHP7 per cubicmeter. The increase will raise Maynilad's water tariff toalmost PHP26 per cubic meter from the current basic rate ofPHP19.92 per cubic meter.Of the amount to be withdrawn, Maynilad's parent firm BenpresHoldings guaranteed the payment of 60 percent while Benpres'French partner, Ondeo Services Philippines Incorporated, willpay the remainder.While Benpres is currently restructuring nearly US$500 millionof its debts, banks that have guaranteed its performance bondmay have to wait for its cash flow to improve. Ondeo, on theother hand, has the capacity to pay US$12 million, which is 40percent of the US$30 million to be drawn.Under a standby letter of credit, a consortium of banks led byHong Kong-based Citicorp. International Ltd. can run afterMaynilad shareholders for payment of the drawn amount.Maynilad sources said Ondeo would pass on this cost tocustomers. But any rate increase must be duly approved by theMWSS Regulatory Office.PHILIPPINE BANK: Appoints New Directors---------------------------------------Philippine Bank of Communications (PBCom) announced to thePhilippine Stock Exchange that during its regular meeting heldon July 29, 2004, the following directors of the Bank wereappointed, namely:(1) Ralph Nubia, Jr. as Executive Director for Corporate Bankingand Branch Lending.(2) Carlos Chung Bunsit as Executive Director and Segment Head-In-Charge of Credit Management & Asset Recovery Segment.(3) Henry Y. Uy as Executive Director for Trust Group.(4) Ernesto T. Luy as Executive Director in-charge of oversightfunctions for Treasury, Facilities and Management Division andBranch Expansion Programs.CONTACT:Philippine Bank of CommunicationsPBCom Tower, 6795 Ayala Ave. Cor. Herrera St., 1226 Makati CityTelephone Number: 830-7000 (TL)Fax Number: 818-2576 (Telefax)Email Address: email@example.com: http://www.pbcom.com.phPILIPINO TELEPHONE: CA Grants Franchise Tax Exemption-----------------------------------------------------The Court of Appeals (CA) has upheld a local trial courtdecision exempting Pilipino Telephone Corp. (Piltel) from payinglocal franchise taxes, SunStar Cebu reports.The CA summarily dismissed in a July 12, 2004 ruling the appealfiled by Makati City government seeking a reversal of thejudgment of the Makati Regional Trial Court dated December 10,2002, which directed Makati City to cease and desist fromassessing and collecting local franchise tax from Piltel.The CA decision is considered precedent-setting, as it nowdetermines that telecom franchises which contain the specificexemption clause and were passed after the effectivity of theLGC are exempt from payment of local franchise tax.The Makati City government assessed Piltel's franchise tax toPHP45 million. Piltel, in turn, filed a protest for theaggregate assessment of the Makati City government, and citedits exemption by virtue of its franchise under Republic Act7293, which expressly exempted the telephone company from payinglocal franchise tax except that which is specifically mentionedin Section 6 of Piltel's legislative franchise.CONTACT:Pilipino Telephone Corp.25/F, Smart Tower6799 Ayala Ave., Makati CityTelephone Numbers: 511-6121/6241Fax Number: 817-3345Email Address: email@example.com INTERNATIONAL: BDO Asks Court to Junk PHP43.75Mln Claims----------------------------------------------------------------Banco de Oro (BDO) has opposed the petition of SilahisInternational Hotel seeking for redirection of rental paymentsmade by Philippine Amusement and Gaming Corp. (Pagcor) from thebank to the hotel company, reports the Manila Times.Banco de Oro, in a six-page motion stated, "Petitioner [SilahisHotel] has divested itself in an absolute and unconditionalmanner all its rights, titles and interests over its receivablefrom Pagcor representing monthly rentals up to December 2004 byvirtue of deeds of assignment of receivables executed prior tothe filing of the petition for suspension of payment."BDO said that it forged an agreement with Silahis Hotelassigning lease rental receivables due from Pagcor to the Syfamily-controlled lender. The receivables amount to PHP43.75million, representing Pagcor's rentals from May to December2004, according to the Manila Times report."The receivables assigned by (Silahis Hotel) in favor of BDO nolonger form part of the assets of the petitioner that could besubject of the rehabilitation plan because this were ceded in anabsolute and unconditional manner long before the filing of thepetition for suspension of payment," the lender's motion read."Hence, this honorable court acting as a rehabilitation courtcan no longer exercise jurisdictional control over these assetsas they no longer form part of the assets of the petitioner," itread further.The suspension of payment and stay order issued by ManilaRegional Trial court on July 12 prohibits Silahis Hotel frommaking any payment of its outstanding liabilities from the startof the court hearing on the hotelier's rehabilitation petition.Silahis Hotel's obligations to Banco de Oro amount to PHP54million.The financial woes of Silahis Hotel stemmed from the Asianfinancial crisis and an eight-month labor strike which led to aone-year closure of Pagcor's operations.The hotel filed a petition for debt-relief after it failed topay US$19 million of PHP1.06 billion in obligations to bankssuch as, Urban Bank (now Export and Industry Bank), Land Bank ofthe Philippines, Security Bank and Westmont Bank (now UnitedOverseas Bank) under a syndicated loan agreement.UNITED PARAGON: Clarifies News Article in BusinessWorld-------------------------------------------------------United Paragon Mining Corp. disclosed to the Philippine StockExchange a clarification to the news article entitled "UnitedParagon to borrow $17M-$20M to revive mine" published in theAugust 5, 2004 issue of the BusinessWorld (Internet Edition).The article reported that:"United Paragon Mining Corp. plans to secure $17 million to $20million in financing to reopen its Longos mine, its principalmining operation in Paracale, Camarines Norte. Alongside this,the firm is restructuring its capital to raise enough equity torepair its mines. Alfredo C. Ramos, president and chairman, toldBusinessWorld the restructuring had already been approved by theboard. `It is hard to pin down the figure but we plan to raisebetween $7 million and $8 million in equity or even lesser at $5million to $6 million. The less equity, the better."United Paragon Mining Corporation (UPM), in its letter to theExchange dated August 6, 2004, informed the Exchange that:"As regards the reported plan of UPMC to secure US$17 million toUS$20 million financing and US$5 to 8 million in equity to openits Longos mine, the company advises that said figures merelyrepresent the UPMC management's estimates of the amount offunding that would be needed if and when it decides to open thesaid Longos mine. Presently, no decision has yet been made bythe UPMC management to open the said Longos mine. Neither hasthere been any agreement with any party for the financingthereof."CONTACT:United Paragon Mining Corp.Business Address: 8/F, Quad Alpha Centrum125 Pioneer St., Mandaluyong CityTelephone Numbers: 636-5133 to 34Fax Number: 636-4923Email Address: firstname.lastname@example.com=================S I N G A P O R E=================CO-SEAL LIQUID: Enters Winding Up Proceedings--------------------------------------------- Notice is hereby given that a petition for the winding up of Co-Seal Liquid Plastic Dressing Pte Ltd by the High Court was, onthe 3rd day of August 2004, presented by Hitachi CreditSingapore Pte Ltd of 268 Orchard Road #11-01, Singapore 238856,a creditor.The petition is directed to be heard before the Court sitting atthe High Court of Singapore at 10:00 a.m., on the 27th day ofAugust 2004.Any creditor or contributory of the company desiring to supportor oppose the making of an order on the petition may appear atthe time of the hearing by himself or his counsel for thatpurpose. A copy of the petition will be furnished to anycreditor or contributory of the company requiring the copy ofthe petition by the undersigned on payment of the regulatedcharge for the same.The Petitioner's address is 268 Orchard Road #11-01, Singapore238856.The Petitioner's Solicitors are Messrs Guan Teck & Lim of 139Cecil Street, #03-02 Cecil House, Singapore 069539.Messrs GUAN TECK & LIMSolicitors for the Petitioner.Note: Any person who intends to appear at the hearing of thepetition must serve on or send by post to the Petitioner'ssolicitors, notice in writing of his intention to do so. Thenotice must state name and address of the person, or, if a firm,the name and address of the firm, and must be signed by theperson, firm or his or their solicitor (if any) and must beserved, or if posted, must be sent by post in sufficient time toreach the above named not later than twelve o'clock noon of the26th day of August 2004 (the day before the day appointed forthe hearing of the Petition).CREDIT SUISSE: Creditors Must Prove Debts by September 6-------------------------------------------------------- The creditors of Credit Suisse First Boston (Singapore) FuturesPte Ltd, which is being wound up voluntarily are required on orbefore the 6th day of September 2004 to send in their names andaddresses and particulars of their debts or claims, and thenames and addresses of their solicitors (if any) to theundersigned, the Liquidator of the said Company.If so required by notice in writing by the said Liquidator, theyare to come in personally or by their solicitors and prove theirdebts or claims at such time and place as shall be specified insuch notice, or in default thereof they will be excluded fromthe benefit of any distribution made before such debts areproved.NG MAY LIAN JUDYLiquidator.c/o 18 Cross Street#08-01 Marsh & McLennan CentreSingapore 048423.This Singapore Government Gazette announcement is dated August6, 2004.FOREST GREENS: Creditors To Submit Claims On September 6---------------------------------------------------------Notice is given that the creditors of Forest Greens Pte Ltd,which is being wound up voluntarily are required on or beforethe 6th day of September 2004 to send in their names andaddresses and particulars of their debts or claims, and thenames and addresses of their solicitors (if any) to theundersigned, the Liquidators of the said Company.If so required by notice in writing by the said Liquidators,they are to come in personally or by their solicitors and provetheir debts or claims at such time and place as shall bespecified in such notice, or in default thereof they will beexcluded from the benefit of any distribution made before suchdebts are proved.CHEE YOH CHUANGLIM LEE MENGLiquidators.18 Cross Street#08-01 Marsh & McLennan CentreSingapore 048423.This Singapore Government Gazette announcement is dated August6, 2004.GINTIAN INVESTMENT: Court Hears Winding Up Petition---------------------------------------------------Notice is hereby given that a Petition for the Winding Up ofGintian (Singapore) Investment Pte Ltd by the High Court was onthe 30th day of July 2004 presented by Bank Of China being thesuccessors-in-title of The Kwangtung Provincial Bank (RC No.F00753W), a bank incorporated in the People's Republic of Chinaand having a place of business at 4 Battery Road, Bank of ChinaBuilding, Singapore 049908, a creditor.The Petition will be heard before the Court sitting at Singaporeat 10.00 o'clock in the forenoon on the 27th day ofAugust 2004.Any creditor or contributory of the Company desiring to supportor oppose the making of an Order on the Petition may appear atthe time of hearing by themselves or their Counsel for thatpurpose. A copy of the Petition will be furnished to anycreditor or contributory of the Company requiring the copy ofthe Petition by the undersigned on payment of the regulatedcharge for the same.The Petitioner's address is 4 Battery Road, Bank of ChinaBuilding, Singapore 049908.The Petitioner's solicitors are Messrs RAJAH & TANN of 4 BatteryRoad, #15-01 Bank of China Building, Singapore 049908.Messrs RAJAH & TANNSolicitors for the Petitioner.Note: Any person who intends to appear at the hearing of thePetition must serve on or send by post to the Petitioner'ssolicitors, Messrs Rajah & Tann of 4 Battery Road, #15-01 Bankof China Building, Singapore 049908, notice in writing of hisintention to do so. The notice must state the name and addressof the person, or, if a firm, the name and address of the firm,and must be signed by the person or firm, or his or theirsolicitors (if any) and must be served, or, if posted must besent by post in sufficient time to reach the Petitioner'ssolicitors not later than twelve o'clock noon of 26th August2004 (the working day before the day appointed for the hearingof the Petition).IPCO INTERNATIONAL: Holds Annual General Meeting------------------------------------------------ Notice is hereby given that the 12th Annual General Meeting ofIPCO International Limited will be held at the registered officeof the Company, 24 Pandan Road, Singapore 609275 on August 24,2004 at 10.00 a.m. for the following purposes:As Routine Business(1) To receive and adopt the Audited Financial Statements of theCompany for the financial year ended 30 April 2004 together withthe Reports of the Directors and Auditors. (Resolution 1)(2) To approve Directors' fees of SGD38,250/- (2003: SGD60,000/-) for the financial year ended April 30, 2004. (Resolution 2)(3) To re-elect the following Directors retiring pursuant to theCompany's Articles of Association:i) Mr Sukardi Tandijono Tang (Article 91) (Resolution 3(i))ii) Mr Carlson Clark Smith (Article 91) (Resolution 3(ii))iii) Dato' Chow C K Kenneth @Wira Tjakrawinata (Article 91)(Resolution 3(iii))(4) To re-appoint Messrs BDO International as Auditors of theCompany and authorise the Directors to fix their remuneration.(Resolution 4)(5) To transact any other routine business that may properly betransacted at an Annual General Meeting.As Special BusinessTo consider and, if thought fit, to pass the following OrdinaryResolutions with or without any modifications:(6) "THAT pursuant to Section 161 of the Companies Act, Cap. 50and subject to Rule 806 of the Listing Manual of the SingaporeExchange Securities Trading Limited, authority be and is herebygiven to the Directors of the Company to issue and allot newshares in the capital of the Company (whether by way of rights,bonus or otherwise) at any time and upon such terms andconditions and for such purposes and to such persons as theDirectors may in their absolute discretion deem fit, providedalways that(i) the aggregate number of shares to be issued pursuant to thisResolution does not exceed 50% of the issued share capital ofthe Company (as calculated in accordance with sub-paragraph (ii)below), of which the aggregate number of shares to be issuedother than on a pro-rata basis to shareholders of the Companydoes not exceed 20% of the issued share capital of the Company(as calculated in accordance with sub-paragraph (ii) below);(ii) (subject to such manner of calculation as may be prescribedby the SGX-ST), for the purpose of determining the aggregatenumber of shares that may be issued under sub-paragraph (i)above, the percentage of issued share capital shall be based onthe issued share capital of the Company at the time thisResolution is passed, after adjusting for:-(a) new shares arising from the conversion or exercise of anyconvertible securities or share options which are outstanding orsubsisting at the time this Resolution is passed; and(b) any subsequent consolidation or subdivision of shares; and(iii) unless revoked or varied by the Company in generalmeeting, such authority conferred by this Resolution shallcontinue in force until the conclusion of the next AnnualGeneral Meeting of the Company or by the date by which the nextAnnual General Meeting of the Company is required by law to beheld, whichever is the earlier." (Resolution 5)(7) "THAT pursuant to Section 161 of the Companies Act, Cap. 50,approval be and is hereby given to the Directors to offer andgrant options in accordance with the IPCO Employees' ShareOption Scheme (the "Scheme") and to issue such shares as may berequired to be issued pursuant to the exercise of the optionsunder the Scheme provided always that the aggregate number ofshares to be issued pursuant to the Scheme shall not exceed 10%of the issued share capital of the Company for the time being".(Resolution 6)(8) "THAT pursuant to the IPCO Employees' Share Option Scheme(the "Scheme"), the Directors of the Company be and are herebyauthorised to offer and grant from time to time to the followingExecutive Director (who will abstain from voting) and whoseparticipation in the Scheme are hereby approved, options tosubscribe for shares not exceeding in the aggregate in any onefinancial year 70,000 shares each, subject to such adjustmentsas may be made pursuant to the Scheme, and to allot and issueshares pursuant to the exercise of such options subject alwaysto the limitation each of twenty-five (25) per cent. of thetotal number of shares (including any shares which may be issuedpursuant to adjustments made under the Scheme) which may beissued by the Company pursuant to the exercise of options underthe Scheme during the entire operation of the Scheme:Carlson Clark Smith". (Resolution 7)By Order of the BoardMary Judith De SouzaTan Soo Khoon RaymondSeah Hai YangCompany SecretariesSubmitted by Quah Su-Ling, Chief Executive Officer on August 6,2004 to the Singapore Stock Exchange.CONTACT:Ipco International Limited7 Temasek Boulevard 038987SingaporePhone: +65 2642711 +65 2642091/2641469Website: www.ipco.com.sg/JETDREAM HOLIDAY: Posts Preferential Dividend Notice---------------------------------------------------- Jetdream Holiday Pte Ltd. issued a Notice of PreferentialDividend.Address of Registered Office: Formerly of 10 Anson Road#24-04A International PlazaSingapore 077903.Court: Supreme Court, Singapore.Number of Matter: Companies Winding Up No. 198 of 1991.Amount Per Centum: 74.6%.First and Final or otherwise: First & Final PreferentialDividend.When Payable: 28th July 2004.Where Payable: The Official ReceiverThe URA Centre (East Wing)45 Maxwell Road #06-11Singapore 069118.Kamala PonnampalamAssistant Official Receiver.This Singapore Government Gazette announcement is dated August6, 2004.VICPLAS INDUSTRIES: Court Issues Winding Up Order------------------------------------------------- In the Matter of Vicplas Industries Pte Ltd., a Winding Up Orderwas made on 30th July 2004.Name and address of Liquidator: The Official ReceiverInsolvency & Public Trustee's Office45 Maxwell Road #05-11/#06-11The URA Centre (East Wing)Singapore 069118.RAJAH & TANNSolicitors for the Petitioner.Note:(a) All creditors of the above named company should file theirproof of debt with the liquidator who will be administering allaffairs of the company.(b) All debts due to the above named company should be forwardedto the liquidator.This Singapore Government Gazette announcement is dated August6, 2004.===============T H A I L A N D===============CAPETRONIC INTERNATIONAL: Releases Tender Offer Result------------------------------------------------------Capetronic International (Thailand) PCL (CAPE) announced to theStock Exchange of Thailand that it has received from Mrs. SunisaPathompreuk, Ms. Chayapa Wongsawat, Ms. Chinnicha Wongsawat, andMr. Yodchanan Wongsawat (the Offerors) the Copy of the Report onthe Preliminary Result of the Tender Offer (Form 247-6 Khor)which was submitted on August 6, 2004 to the Securities andExchange Commission.To view full copy of the Tender Offer Preliminary Result, clickhttp://bankrupt.com/misc/capetronicinternational080604.htmCONTACT:Capetronic International (THAILAND) PCL105 MOO 3,BANGNA-TRAT ROAD,THAKHAM,BANG PAKONG ChacherngsaoTelephone:(038) 573161-72Fax: (038) 573173-4EASTERN WIRE: Issues Statement on 2Q Operating Results------------------------------------------------------Eastern Wire PCL disclosed to the Stock Exchange of Thailandthat its Second Quarter performance (April 1 to June 30, 2004)showed an increase in profit of THB207.96 million compared tolast year (due to the company's reserve of THB200 million forpotential loss due to guarantee given).In the Second Quarter, the company has normal net profit ofTHB32.34 million, an increase of THB7.96 million over last yearresulting from an increase in Sales revenue by THB28.43 millionand by controlling cost which resulted in the better operatingperformance.Very truly yours,(Mr. Weera Louwitawat)(Ms.Laddawan Suwapradub)EPCO MANAGEMENT CO.,LTD.Plan AdministratorCONTACT:EASTERN WIRE PCLRASA TOWER, ROOM 1201-1203,555 PHAHOLYOTHIN ROAD,CHATU CHAK BangkokTelephone: 0-2937-0058-66Fax: 0-2937-0067EASTERN WIRE: Issues Reviewed Quarterly Financial Statements------------------------------------------------------------Eastern Wire PCL (EPCO) released to the Stock Exchange ofThailand its reviewed quarterly financial statements.Eastern Printing PCLReviewed Ending June 30, 2004 (In thousands)Quarter 2 For 6 MonthsYear 2004 2003 2004 2003Net profit (loss) 32,340 (175,617) 55,780 (155,391)EPS (baht) 0.13 (0.70) 0.21 (0.62)Type of report: Unqualified Opinion with an emphasis of mattersComment:(1) Please see details in financial statements, auditor's reportand remarks from SET Information Management System"The company hereby certifies that the information above iscorrect and complete. In addition, the company has alreadyreported and disseminated its financial statements in full viathe SET Electronic Listed Company Information Disclosure(ELCID),and has also submitted the original report to theSecurities and Exchange Commission."Very truly yours,(Mr.Weera Louwitawat)(Ms.Laddawan Suwapradub)EPCO MANAGEMENT CO. LTD.Plan Administrator *********S U B S C R I P T I O N I N F O R M A T I O NTroubled Company Reporter -- Asia Pacific is a daily newsletterco-published by Bankruptcy Creditors' Service, Inc., Trenton, NJUSA, and Beard Group, Inc., Frederick, Maryland USA. LyndseyResnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan, ReizaDejito, Editors.Copyright 2004. All rights reserved. ISSN: 1520-9482.This material is copyrighted and any commercial use, resale orpublication in any form (including e-mail forwarding, electronicre-mailing and photocopying) is strictly prohibited withoutprior written permission of the publishers. Informationcontained herein is obtained from sources believed to bereliable, but is not guaranteed.The TCR -- Asia Pacific subscription rate is $575 for 6 monthsdelivered via e-mail. Additional e-mail subscriptions formembers of the same firm for the term of the initialsubscription or balance thereof are $25 each. For subscriptioninformation, contact Christopher Beard at 240/629-3300. *** End of Transmission ***


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So that concludes the first game! Afghanistan win it comfortably and take a 1-0 lead in the 3-match T20I series. The next game is going to be a do-or-die for the Irishmen. They would look to improve their bowling and bounce back hard. Whereas the hosts would look to build on this victory. The second game takes place on 10th March at 1400 local time (0830 GMT). Till then, take care! Cheers!
Afghanistan skipper, Asghar Stanikzai feels that the wicket was looking good throughout, which made batting easy for them. Opines that the opposition fell short of 25-30 runs on a deck such as this which favoured the batsmen. Adds that the first game is always important in any series and he is really happy to win it.
Ireland skipper, William Porterfield says that his team didn't build on the start they got. Praises the Afghan batsmen by saying that they played well and struck the ball cleanly. He feels that his run out changed the momentum of their innings. Feels that they could have got to 180 easily and also that the bowling could have been a bit better. Ends up by saying that it's just the first match and there were a lot of positives to take from it.
Man of the Match, Samiullah Shenwari thanks the almighty for his performance today. Applauds his coach and the skipper for giving him the confidence when he needed it the most. Adds that he would like to keep up his performance level high. Ends by saying he enjoyed his batting today.
None of the Irish bowlers were that effective as they hardly could keep the runs in check. Kevin O'Brien managed to get a wicket but he was hammered all round the park, conceding 52 off his 4-overs quota. By the time Stuart Thompson and Craig Young chipped in with a wicket each, the game had already tilted in the favour of the hosts.
Shenwari came in next and started off in the fourth gear directly as he hammered three boundaries in the first three balls and then 56 runs off only 36 balls. Mohammad Shahzad also batted well smashing 47 off 41 balls. The top order took the game out of the opposition's hands and skipper Stanikzai walked in to see his team through to the finish line.
An entertaining performance by the Afghanistani batsmen help them to take a lead of 1-0 in the 3-match T20I series. They were on top of the game from the very first over. The openers managed to get their team to a flying start where they scored 51 runs before losing Najeeb Tarakai on the last ball of the fifth over.
Craig Young to Shafiqullah
SIX! Finishes it off in style! Full and in the line of the stumps, Shafiqullah kneels down and slogs it way over the mid-wicket fence for a maximum. What a way to win the match! AFGHANISTAN WIN BY 6 WICKETS AND WITH 2 OVERS TO SPARE!
Shafiqullah is the next man in.
Craig Young to Mohammad Nabi
OUT! With just a run needed to win, Nabi looks to finish it in style. Full delivery, angling into the pads, Nabi clips it uppishly. Dockrell at short mid-wicket takes another good catch to his left. Nabi has to walk back!
Craig Young to Asghar Stanikzai
Full on middle and off, dug out to long on for a single. SCORES ARE LEVEL!
Craig Young to Mohammad Nabi
Another back of a length delivery, dragged to deep square leg for a single.
Craig Young to Asghar Stanikzai
Short delivery, pulled on the leg side for a single.
Craig Young to Asghar Stanikzai
Length delivery outside off, Stanikzai sways at it and ends up missing!
Craig Young is back for a bowl.
Stuart Thompson to Asghar Stanikzai
Outside off, played to point for a single.
Stuart Thompson to Asghar Stanikzai
Pitched outside off, AS misses his punch!
Mohammad Nabi walks out.
Stuart Thompson to Samiullah Shenwari
OUT! Shenwari departs in the process of finishing the match with a glory shot! Slower one on leg, Shenwari gets ahead a touch and looks to whip it. Ends up chipping it high in the air. Dockrell at long on, judges the ball well, grabs it and just when he thinks he is crossing, he lofts the ball in air, comes back in and then pouches it safely. The umpire have a check upstairs and the replays confirm that the catch is clean. A sensational innings for Shenwari comes to and end!
The umpires have gone upstairs to check if the catch off Shenwari is clean or not.

subset: commoncrawl


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