TSE reconsidering 101 move
The Taiwan Stock Exchange is reconsidering its plan to move into the world's tallest skyscraper, amid concerns of terrorist attacks and earthquakes, a Chinese-language newspaper reported, citing exchange chairman Sean Chen (陳沖).
The exchange, one of the investors of the Taipei 101 tower, had earlier planned to occupy six floors in the building, to house staff and computer systems, the report said.
The exchange has already decided not to move its computer systems into the skyscraper after the air conditioning, floors and electricity supply were found to be unsuitable, the report said.
China Development Financial Holding Corp (中華開發金控) and China United Trust & Investment Co (中聯信託), the building's two main developers, said in July they plan to fill 65 percent of the NT$58 billion Taipei 101 by the end of next year when it is completed, and have it fully occupied by 2005.
Taipower to buy coal
Taiwan Power Co (台電) plans to buy 1.76 million metric tonnes of coal through bids on Oct. 1, a report said citing unidentified company officials.
Taipower is seeking 1.13 million tons of coal for delivery between December and next April, and 630,000 tonnes for delivery between January and March next year, the Tex Report's Daily Energy edition said.
Pou Chen to sell bonds
Pou Chen Corp (寶成), which makes sports shoes for Nike Inc, said it plans to sell US$300 million of bonds that convert into its shares, using the proceeds to pay debt.
The bonds, which won't pay interest, will mature in five years and will be sold between face value and 103 percent of face value, the company said in a statement published by the Taiwan Stock Exchange.
Pou Chen's shares are up 39 percent this year, compared with a 26 percent rise in TAIEX.
Chinese firm mulls investment
Semiconductor Manufacturing International Corp (中芯國際集成電路), China's biggest chipmaker, may take a stake in an idle US$1 billion Motorola Inc chip plant as it seeks to expand before selling shares to the public, analysts said.
The plant in Tianjin has been running at less than one-tenth capacity since Motorola started building it in 1995 as demand for locally produced semiconductors failed to meet expectations.
Semiconductor Manufacturing, China's first made-to-order chipmaker, would win a potential customer after striking alliances with Toshiba Corp, Infineon Technologies AG and Fujitsu Ltd.
KGI Securities' shares surge
KGI Securities Thailand Pcl, the country's fourth-largest broker by sales, rose to a nine-month high on expectations an increase in trading will boost its profitability.
KGI Securities (中信證券) is a brokerage unit of the Koos Group (和信集團).
The shares rose as much as 18 percent to 4.86 baht, the highest since Dec. 6 and then rose 17 percent to 4.8 baht as of 3:26pm in Bangkok.
Rice production dropping
Facing growing competition under the WTO framework, farmers are growing less rice on fewer acres, the Central Taiwan Office of the Council of Agriculture said.
Officials said farmers produced 957,090 tonnes of rice on 161,184 hectares of land in the first crop season of this year.
The production is 9 percent less than the average of the past three years and the land used in growing rice is 14 percent less than the average acreage.
The government is encouraging farmers to grow better rice rather than more rice, the officials said.
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