EVA reimburses workers
EVA Airways Corp (長榮航空) yesterday reimbursed employees nearly NT$100 million in temporary wage cuts dated back to January this year, company spokesman Nieh Kuo-wei (聶國維) told the Taipei Times. The move comes after EVA, Taiwan's second largest air carrier, reported a better than expected year-to-date profit forecast of NT$1.4 billion, up 37 percent over the same period last year. Passenger and cargo load rose 5 percent and 10 percent increase respectively on last year's figures, Nieh said. Staff efforts had played a significant role in the firm's return to profit and that the reimbursement would reward them for their hard work and loyalty, he said. EVA went in the red over NT$3 billion after the terrorist attacks in the US last fall, forcing the airline to axe around 800 employees. At the same time staff salaries were reduced by between 10 percent and 30 percent.
TSMC listed as `guidepost'
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained its top position in this year's "Taiwan 10 Guidepost Enterprises" poll conducted by the Chinese-language Common Wealth magazine. TSMC was followed by Hon Hai Precision Industry Co (鴻海), Formosa Plastics Corp (台塑), Uni-President Enterprise Co (統一), Quanta Computer Inc (廣達), Asustek Computer Inc (華碩), the Chi Mei Group (奇美), Chinatrust Commercial Bank (中信銀), the President Chain Store Corp (統一超商) and MediaTek Inc (聯發科).
CPC refines oil for China
Chinese Petroleum Corp (中油) said it will start refining a cargo of Sudanese Nile Blend crude oil as early as next month for China National Petroleum Corp (中石油集團). Chinese Petroleum will refine 600,000 barrels of the crude for a Singapore unit of China National Petroleum, China's biggest oil producer, said Lie-Way Chen, a deputy director at Chinese Petroleum. "The cargo has arrived and was shipped to our refinery on Sept. 28," Chen said.
Wintek hires Nomura for sale
Wintek Corp (勝華科技), which makes liquid crystal displays used in mobile phones for customers such as Motorola Inc, hired Nomura Holdings Inc to arrange an overseas share sale, a Wintek spokesperson said. At Wintek's closing stock price yesterday, the sale will raise NT$2.57 billion (US$73 million).
Mosel may sell bonds
Mosel Vitelic Inc (茂矽), Taiwan's fifth-largest maker of computer-memory chips, said it may raise NT$5 billion (US$143 million) by April selling bonds convertible into shares to overseas investors to repay debt. Mosel must repay a NT$5.5 billion bond due in April, Finance Manager Susan Lin (林素貞) said. Funds earmarked for settlement may be used to pay investors who exercise the right to redeem in February a NT$117 million bond that matures two years later.
New Taiwan dollar rises
The New Taiwan dollar yesterday rose against its US counterpart, increasing NT$0.003 to close at NT$34.918 on the Taipei foreign exchange market. Turnover was US$350 million, down from last Friday's US$371 million. The local currency traded between NT$34.980 and NT$34.913 during the session.
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