Thu, Jul 01, 2004 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

United Test changes forecast

United Test and Assembly Center Ltd, Singapore's second-largest provider of chip-testing services, said it may pay a lower price for its planned S$794 million (US$462 million) purchase of Taiwan's UltraTera Corp (聯測科技).

The Hsinchu-based firm will not be able to meet targets set for this year, United Test said in a statement to the Singapore stock exchange.

The Singapore company said two months ago it would exchange 1.6 of its shares for each share of UltraTera.

NPL progress pays

Taiwan banks that were able to bring non-performing loan (NPL) ratios below 2.5 percent by the end of last year will be rewarded, the Bureau of Monetary Affairs said in a statement. These rewards will include getting a green light to launch new financial services, easier approval on opening more branches in Taiwan and permission to open offices in China, the bureau said.

Banks with NPL figures above 5 percent would be barred from setting up overseas and domestic branches, while those with NPL figures above 15 percent would be forced to close some branch operations and be restricted from making investments and loans, the bureau said.

NT dollar loses ground

The New Taiwan dollar yesterday continued to lose ground against its US counterpart, falling NT$0.008 to close at NT$33.775 on the Taipei foreign exchange market.

Turnover was US$580 million.

This story has been viewed 2646 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top