■ NPLs now NT$7 billion
As of October, the nation's non-performing loans (NPLs) ratio for credit-card businesses amounted to NT$7 billion, or 3.12 percent, a finance official told a press conference yesterday.
According to Chang Ming-daw (張明道), deputy director general of the Bureau of Monetary Affairs, the top five banks with the highest credit-card NPL ratio are Chung Shing Bank (中興銀行) with 42.24 percent, Kaohsiung Third Credit Co-operative (高雄三信) with 40.28 percent, Taichung Commercial Bank (台中商銀) with 32.52 percent, Asia Trust (亞洲信託) with 26.7 percent and Pan Asia Bank (泛亞銀行) with 21.77 percent.
The top five banks with the lowest credit-card NPL ratio are the Bank of Taiwan (臺灣銀行) with 0.91 percent, Citibank N.A. (花旗銀行) with 1.06 percent, Taishin Bank (台新銀行) with 1.13 percent, ABN AMRO Bank (荷蘭銀行) with 1.37 percent and Standard Chartered Bank (渣打銀行) with 1.41 percent.
■ Goldman Sachs criticized
Companies expected to make an offer for SinoPac Holdings Co (建華金控) have criticized Goldman Sachs Group Inc for lack of transparency in the way it handled the process of finding potential buyers, the local media reported yesterday, citing Tsai Cheng-yu (蔡鎮宇), deputy honorable chairman of Cathay Financial Holding Co (國泰金控).
Tsai said Goldman Sachs, SinoPac's financial adviser, should disclose to the public how many proposals it has received from interested buyers. A lack of transparency surrounding the process has resulted in widespread speculation in the market.
Goldman Sachs wouldn't comment on Tsai's remarks.
■ Chemical sector to grow
The production value of Taiwan's chemical industry is expected to reach NT$2.9 trillion (US$85 billion) in 2008 from NT$1.95 trillion last year, and the percentage of its high value-added products should rise to 40 percent, according to sources from the Industrial Technology Research Institute (ITRI).
Cheng Wu-hsiun (鄭武順), chief of ITRI's laboratory on materials and chemical engineering, announced the estimate at the inauguration ceremony of the Taiwan Chemical Industry Association.
Cheng noted that the production of the nation's chemical and textile industry accounts for 30 percent of the total production in the manufacturing sector, trailing only the electrical and electronics industry.
However, although the production of the chemical industry is quite large, the percentage of its high value-added products only accounts for 20 percent of its total production, compared to the 50 to 60 percent registered by industrially advanced countries.
The chemical industry hopes to increase the percentage of its high value-added products to 40 percent in 2008, Cheng said.
■ AmCham elects female head
Andrea Wu (吳王小珍), country manager of United Airlines Taiwan, has been elected by the board of governors of the American Chamber of Commerce (美國商會) in Taipei as the organization's president for next year, the organization said in a statement.
Wu is the first woman to head AmCham since the organization was established in 1951. She has been general manager of United Airlines Taiwan since 2000.
In the statement, Wu said there are many important issues that need attention, including continued improvement in IPR enforcement, further financial reform, and fairer participation for foreign companies in government procurement projects.
■ NT dollar slightly lower
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