Evergreen joins C-TPAT
Evergreen Marine Corp (長榮海運) recently became a full member of the Customs-Trade Partnership Against Terrorism (C-TPAT) initiated by the US Customs authority.
The C-TPAT program will allow Evergreen's clients to enjoy "fast lane" border crossings and other important incentives when their shipments enter or exit the US, company president Wang Lung-hsiung (王龍雄) said.
He said that in exchange for implementing C-TPAT security policies and procedures, companies will receive a significant number of benefits, including reduced number of inspections, assigned account managers, reduced waiting times and a chance to self-police.
The US Customs formed the C-TPAT last July as a joint government-business partnership to work against terrorism, according to Wang.
THSRC raises NT$26.9bn
Taiwan High Speed Rail Corp (台灣高鐵) said it raised NT$26.9 billion (US$779 million) selling shares to Hua Nan Financial Holdings Co (華南金控) and 44 other investors to help finance a NT$12.7 billion rail line.
The company said it sold 2.69 billion shares at NT$10 each. The leading buyers were Hua Nan, First Financial Holding Co (第一金控) and Continental Engineering Corp (大陸工程), which each bought NT$2 billion of shares.
Taiwan High Speed Rail plans to complete the 345km project linking Taipei and Kaohsiung by October 2005 and has awarded most of the contracts for trains and other supplies to Japan companies.
Telecom giant boosts profits
Chunghwa Telecom Co (中華電信) said its net profit last year rose 16.2 percent due to cost-cutting, which offset a fall in revenue.
The firm posted a higher net profit of NT$43.29 billion, despite a 2.9 percent fall in sales to NT$176.9 billion.
The company attributed the better than expected performance to cost-cutting as well as substantial growth in its mobile phone and broadband businesses.
The fixed line business declined due to stiff competition from privately owned rivals, the company said in a statement.
MediaTek 4Q profit up 37%
MediaTek Inc (聯發科技), the world's biggest designer of chips for DVD players, said fourth-quarter profit rose 37 percent, propelled by year-end holiday sales.
Net income rose to NT$3.7 billion (US$107 million) from NT$2.7 billion in the year-earlier quarter. That compares with average profit of NT$3.5 billion predicted by analysts.
Sales, based on monthly company reports, rose by half to NT$9 billion. The company's gross margin in the fourth quarter rose to 49.7 percent from 45.2 percent in the previous quarter.
Chi Mei sticks to US sale plans
Chi Mei Optoelectronics Corp (奇美光電), the nation's No. 2 maker of flat-panel displays, is sticking to plans to sell new shares in the US to help fund expansion, a local newspaper said, citing unidentified company officials.
The company didn't provide more information, citing a quiet period associated with the sale, the report said. Chi Mei had planned by last month to raise NT$20 billion (US$588 million) selling new shares to overseas investors to help fund a new factory, the paper reported in August, citing unidentified company officials.
NT dollar dips
The New Taiwan dollar yesterday traded lower against its US counterpart, dropping NT$0.1 to close at NT$34.66 on the Taipei foreign exchange market.
Turnover was US$518 million, compared with the previous day's US$550 million.
Agencies
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