Far EasTone picks Ericsson's 3G
Far EasTone Telecommunications Co (遠傳電信), has selected Sweden-based Ericsson AB as its third-generation (3G) network equipment supplier, an executive of the company announced yesterday.
"Ericsson has worked with Far EasTone as a network infrastructure supplier since we first launched our mobile network in January 1998. We are delighted to further strengthen this relationship by working together on the speedy roll-out of our 3G network." Jan Nilsson, President of Far EasTone. said.
Based on the US$39 million deal, Ericsson will begin to deliver core network equipment in the first quarter of this year, according to Melissa Chen (陳柔君), a public relations specialist at the company.
She added that the deal only applies to Far EasTone's phase-one 3G roll-out plan which set to finish the network establishment in metropolitan areas in the second half of this year.
CPC raises price of product
Chinese Petroleum Corp (中油), Taiwan's state oil company, raised the price of imported liquefied natural gas, used for power generation in winter, by 2.9 percent because of rising crude oil costs.
Chinese Petroleum is selling the imported fuel to power companies during December through March at NT$7.48 (US$0.22) a cubic meter, according to a statement on its Web site. The price increase is based on an import cost of NT$6.479 a cubic meter.
The price change is effective immediately, Chinese Petroleum said. The company last adjusted its LNG prices in September 2001.
Banks' NPL ratios remain high
Eight out of 52 domestic banks had non-performing loan ratio of more than 20 percent as of the end of September last year, the central bank said in a statement yesterday. Another 13 banks had NPL ratio between 10 percent and 20 percent during that time, it added.
The Ministry of Finance has requested domestic banks to cut their NPL ratios to less than five percent by the end of 2004.
Among banks in deep financial trouble, Chung Shing Bank (中興銀行) had a ratio of 68.72 percent, followed by Kaohsiung Business Bank's (高雄企銀) 49.38 percent and Hualien Business Bank's (花蓮企銀) 47.66 percent.
In contrary, Export-Import Bank of ROC (中國輸出入銀行) had a lowest NPL ratio of 0.64 percent as of September last year, followed by Taiwan Industrial Bank's (台灣工銀) 1.29 percent and Taishin International Bank's (台新銀行) 3.31 percent.
Compal expects sales growth
Compal Electronics Inc (仁寶電腦) expects sales to rise by a third as the world's second-largest maker of notebook computers shifts production to China, where it will start selling under its own brand, Chairman Rock Hsu (許勝雄) said in a local newspaper report.
In the report, Hsu said Compal expects 2003 sales to reach NT$150 billion (US$4.3 billion) from NT$116 billion last year.
He said Compal and listed unit Kinpo Electronics Inc (金寶電子) will invest together in a Beijing office that will manage distribution and marketing in the world's third-largest PC market.
Compal plans to boost notebook PC production by a quarter this year, and expects to more than triple its handset output this year to 10 million units, Hsu said.
NT dollar continues rise
The New Taiwan dollar had its highest close in eight weeks on expectations overseas investors will boost demand for the currency after they were net purchasers of the island's stocks. The currency gained NT$0.046 to close at NT$34.599 against the greenback on the Taipei foreign exchange market. Turnover was US$659.5 million, compared with the previous day's US$636 million.
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