EPZA willing to share
The Export Processing Zone Administration (EPZA) under the Ministry of Economic Affairs is willing to share its development experience with developing nations, the administration announced Monday. Joseph Chou (周嚴), director-general of the administration, said that his office has obtained a lot of experience in manufacturing development, factory building, business operation and management, research and development, marketing and administration of export processing zones. These export processing zones have made a great contribution to Taiwan's economic development since the first one was established in Kaohsiung, southern Taiwan, in 1966, with accumulated revenue amounting to US$120 billion, Chou said. The administration is willing to help developing nations train talent, to cooperate with enterprises in developing nations in manufacturing, and marketing through joint ventures to sell Taiwan products, raw materials and semi-manufactured products to local and international markets.
CAL's premiums soar
China Airlines Co (華航), Taiwan's biggest carrier, will pay 30 percent more for insurance after suffering its fifth fatal crash in 11 years in May, a Chinese-language newspaper reported without citing anyone. The carrier will pay between US$60 million and US$65 million to renew its insurance contract from today, the paper said. Rival EVA Airways Corp (長榮航空), which has never had a fatal crash, pays about US$10 million a year, the report said. China Air flight CI611, a Boeing Co 747-200 carrying 206 passengers and 19 crew, plunged into the sea on May 25 as it flew from Taiwan to Hong Kong. Everyone on board died. Meanwhile, China Airlines Co (華航) may consider to buy both Boeing and Airbus airplanes to replace 22 aging jets in its fleet, according to a Chinese-language newspaper yesterday. The paper said China Airlines has decided to purchase 12 French-made Airbus A330 planes and 10 US-made Boeing 747-400 jets, citing an anonymous source.
Via's sales plummet
Via Technologies Inc (威盛電子), the world's second-largest computer-chipset maker, said sales last month fell 19 percent from a year earlier. Sales declined to NT$2.1 billion (US$60 million), compared with NT$2.6 billion a year earlier. Revenue rose 9 percent from NT$1.9 billion in August. Chipsets work with a processor chip to manage functions of a personal computer like memory and graphics display.
Nanya cuts share price
Nanya Technology Corp (南亞科技) cut the price of 350 million new shares it plans to sell by 23 percent after its stock slumped in September. Nanya set a provisional price of NT$23 a share, down from its original plan of NT$30, in a sale application to the Securities and Futures Commission. The stock closed at NT$22 yesterday. At the new price, the sale would raise NT$8.05 billion (US$231 million) to fund construction of a plant that Nanya plans to start building this month with Infineon Technologies AG.
NT up against US dollar
The New Taiwan dollar yesterday continued to gain ground against its US counterpart, rising NT$0.003 to close at NT$34.915 on the Taipei foreign exchange market. Turnover was US$342 million, down from the previous days' US$450 million. The local currency traded between NT$34.985 and NT$34.905 during the session.
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