■ Kao Ching-yuan sees index rise
Uni-President (統一企業) chairman Kao Ching-yuan (高清愿) predicts that the TAIEX will rise after Saturday's presidential election, ETtoday.com is reporting. Kao said that no matter which candidate wins, the new government will strive to improve Taiwan's economy, boosting the index to 7,500 points "quickly" and 8,000 points eventually, the report said. Compal Electronics Inc (仁寶電腦) chairman Rock Hsu (許勝雄), speaking at a meeting with Kao, also predicted that the index will rise to 8,000 points after the election, the report said. Before the 2000 presidential vote, Kao warned that the TAIEX would drop 3,000 points if Chen won.
■ Aircraft maker shows wares
Eying growing demand for flights in the Asia-Pacific region, Embraer, the world's fourth-largest commercial aircraft maker, based in Brazil, showcased its new regional jet in Taipei yesterday in hopes of clinching deals with local buyers. "We estimate that Asia-Pacific will account for 14 percent of demand in the next 20 years, while China alone will take 8 percent of the share," Bruce Peddle, Embraer's managing director in the Asia-Pacific region, said yesterday. During a flight testing with TransAsia Airways (復興航空), Embraer demonstrated its 70-78 seat Embraer 170 aircraft, which is capable of flying 3,660km. Sun Hung-hsiang (孫洪祥), president of TranAsia, said the aircraft is suitable for carrying Taiwanese businesspeople to second-tier cities in China and other Asia-Pacific countries. TransAsia is still evaluating the deal as the government still bans the direct transportation links across the Taiwan Strait, Sun said.
■ Shanghai store courts Taiwan
Shanghai-based supermarket chain Lotus Supercenter (易初蓮花超市集團) is courting Taiwanese suppliers to help in its effort to beef up its presence of Taiwanese products in its stores in China. Officials from the Lotus Supercenter Group are scheduled to sponsor a business workshop at the Taipei World Trade Center today to brief Taiwan suppliers about the group's plans to import foods and beverages and other supermarket items from Taiwan. Lotus is planning to stage a "Taiwan Products Festival" in its 35 stores around China in the second half of this year.
■ Quanta display to sell shares
Quanta Display Inc (廣輝電子) plans to sell new shares with a market value of NT$10 billion (US$300 million) to finance the purchase of equipment for a flat-panel display plant. Quanta Display aims to sell as many as 400 million new shares, according to a statement to the Taiwan Stock Exchange Corp. The company may need to raise as much as NT$38 billion for expansion, mostly from share sales between this year and next, said Frank Lee, an analyst with Deutsche Securities in Taipei.
■ JF Asset honcho joins HSBC
HSBC Asset Management (Taiwan), a fund unit of the world's second-biggest bank by market value, hired JF Asset Management's former Taiwan chief, Christina Sung (宋文琪), to head its mutual fund business in Taiwan. Sung will take up the new position on April 1 and be responsible for overseeing HSBC Asset Management's strategy. She will also consult on the UK lender's mutual fund business in China and the Asia Pacific region.
■ NT dollar rises
The New Taiwan dollar yesterday maintained its strength against the US dollar, edging up NT$0.067 to close at NT$33.293 on the Taipei foreign exchange market. Turnover was US$0.766 billion.
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