Business Briefs

Chi Mei overtakes Sharp
Chi Mei Optoelectronics Corp (奇美電子), Taiwan's second largest producer of flat computer-screen panels, together with its joint venture International Display Technology Inc surpassed its Japanese rival Sharp Corp in the number of panels it shipped in the last quarter of last year, US-based research firm DisplaySearch reported yesterday.

Chi Mei and its joint venture with IBM Japan saw shipments increase 12 percent compared to the third quarter, making it the fourth largest supplier globally. Meanwhile Sharp's shipments dropped 4 percent, pushing it back into fifth place. There was more jostling at the top as South Korea's LG Philips LCD pushed Samsung Electronics Co off the top spot and into second place. Taiwan's AU Optronics Corp (友達光電) held onto the number three spot.

Shipments of flat panels larger than 10 inches in diameter increased 15 percent in the final quarter of last year compared to the third quarter, and 27 percent compared to the same period the year before, DisplaySearch said. A total of 18.7 million panels were shipped last year.

Minister insists on higher price
Taiwan hasn't renewed a contract with Goldman Sachs Group Inc to manage the overseas sale of a Chunghwa Telecom Co (中華電信) stake because they can't agree on a price, a local newspaper said, citing unidentified government officials.

Goldman advised the government, which owns four-fifths of Taiwan's largest phone company, to sell American depositary receipts for a price equivalent to about NT$40 per local share, a discount of 23 percent to the March 14 closing price of NT$52, the report said.

Lin Ling-san (林陵三), minister of the transportation ministry, which controls the Chunghwa Telecom stake, can't accept that price because the government in December sold a 13.5 percent stake domestically for a price per share of NT$50.3, the report said.

Gre Tai to share with KOSDAQ
Gre Tai Securities Market (櫃台買賣中心), Taiwan's over-the-counter market, is scheduled to sign a memorandum of understanding (MOU) Friday with its South Korean counterpart KOSDAQ Stock Market Inc for information sharing, a Gre Tai spokeswoman said yesterday.

KOSDAQ chief executive officer and president Shin Ho-joo would sign the MOU in Taipei with Gre Tai chairman Lee Yung-san (李庸三), the spokeswoman said.

The MOU with KOSDAQ would be the first one inked by Gre Tai to share trading information with a foreign stock exchange since it was established eight years ago, she said.

Gre Tai hoped the cooperation would help boost its image in the region, she added.

BenQ expects steady profit
BenQ Corp (明基電通) said it expects its profit to be little changed from last year, even as sales rose 30 percent, driven by demand for flat-panel monitors and televisions.

Net income will probably rise 1 percent to NT$7.5 billion (US$216 million) in 2003, the company said in a statement to the Taiwan Stock Exchange. BenQ, Taiwan's biggest mobile-phone maker, posted profit of NT$7.4 billion last year on sales of NT$110.3 billion.

BenQ, which also makes flat panels, computer scanners and consumer electronics, will increase shipments of those products. The company said earlier that it will ship about 16.5 million cell phones this year, the same as last year.

NT dollar gains strength
The New Taiwan dollar yesterday traded higher against its US counterpart, rising NT$0.004 to close at NT$34.703 on the Taipei foreign exchange market.

Turnover was US$259 million.