■ Three investments approved
The Investment Commission, under the Ministry of Economic Affairs, said yesterday it approved three applications for China-bound investment worth US$51.50 million. The approved investment includes US$29.50 million Nan Ya Plastics Corp (南亞塑膠) will spend on a unit in Kunshan in the eastern province of Jiangsu and US$16 million for Quanta Computer Inc's (廣達電腦) Shanghai unit, the commission said. Between Feb. 16 and March 17, the commission approved a total of 247 China-bound investment applications worth a combined US$358 million.
■ Yulon to set up parts venture
Yulon Motor Co (裕隆), the nation's largest automaker by market value, plans to set up an electronic parts venture and may invite some computer makers to be investors. Yulon plans to make components for vehicles in Taiwan, company Vice President Charles Shiau (蕭明輝) said today. "The venture is at the early planning stage, so details are still very sketchy," Shiau said. The project, aimed at tapping the world's NT$900 billion (US$28 billion) auto-electronics market, may involve an investment of about NT$10 billion, according to Chen Kuo-rong (陳國榮), the carmaker's president.
■ NT dollar dips
The New Taiwan dollar dropped for a fourth day on concern the central bank will sell it to protect exporters as the South Korean won and Japanese yen weakened. The NT dollar slid NT$0.103 to close at NT$31.776, the lowest close since Feb. 1. Turnover was US$897 million.