Sun, Nov 30, 2003 - Page 11 News List

Business Quick Take


■ Counterfeiting

Police seize fake toner

Police in Singapore seized US$6.9 million worth of pirated photocopier products in their biggest single haul of counterfeit goods, officials said yesterday. During a 12-hour operation, a 51-year-old man was arrested, the managing director of a company dealing in ink-related products. About 167,000 counterfeit photocopier products, including toners and ink cartridges, were taken from a factory bearing such trademarks as Sharp, Toshiba, Hewlett-Packard, Xerox, Panasonic and Canon. Police believe the managing director obtained empty toners and ordered ink from China, according to The Straits Times. He was said to have filled the toners with the ink and packed them for export to the Middle East, South Africa and several Western nations.

■ Currencies

China relaxes controls

China may permit exchanges between the Chinese Yuan and the Taiwan dollar from mid-December, starting with five cities in the southeastern province of Fujian, a Chinese-language newspaper reported, citing unidentified people. The Chinese government may allow Taiwanese businessmen, with valid identification and documents, to carry out transactions at Bank of China branches in the cities of Zhangzhou, Fuzhou, Xiamen, Quanzhou and Putian, the paper said. The exchange rate and amount allowed will be specified later, the paper said. China and Taiwan have been ruled separately since 1949, when Chiang Kai-shek's Nationalist Party lost a civil war to Mao Zedong's Communist Party and fled to the island. China deems Taiwan a renegade province and has vowed eventual reunification.

■ Semiconductors

Vanguard to cut production

Vanguard International Semiconductor Corp (世界先進) plans to exit the market for computer memory chips from the middle of next year, a Chinese-language newspaper reported, citing chairman Paul Chien. The company expects to cut the portion of capacity used to make dynamic random-access memory chips, which serve as the main memory in personal computers, to 15 percent next year from 40 percent this year, and will stop making the chips completely by the end of the year, the paper said. Vanguard will focus on making specialized chips for wireless communications, imaging and other products, the report said. The company, based in Hsinchu, is controlled by Taiwan Semiconductor Manufacturing Co (台積電), the world's biggest supplier of made-to-order chips.

■ Fishing

China cuts fishing fleet

China will cut the size of its fishing fleet by 13 percent over the next eight years and limit its catch to protect diminishing fish stocks, state media reported yesterday. The move is expected to throw some 300,000 people out of work, newspapers and the Xinhua News Agency said. The number of fishing boats permitted in China's waters will fall by 30,000 to 192,000 by 2010, the reports said. The cutbacks add to increasingly drastic steps taken by China in recent years to protect dwindling fishing stocks. Fishing is regularly banned in large sections of China's coastal waters during spawning season. Seasonal restrictions have been extended in recent years to the Yangtze and other major rivers to protect the breeding of dwindling fish species.

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