Chunghwa, Quanta in talks
Chunghwa Picture Tubes Ltd (中華映管) is in talks to combine with Quanta Display Inc (廣輝), several Chinese-language newspapers reported yesterday, citing Chunghwa Picture Chairman and President Lin Chen-hung (林鎮弘). Lin is in discussions with Barry Lam (林百里), chairman of Quanta Display, the newspapers said. Chunghwa Picture is the nation's third-largest flat-panel display maker, while Quanta Display is the fifth largest. Quanta Display is a unit of Quanta Computer Inc (廣達), the world's biggest notebook computer maker.
Thai exports set to boom
Thailand's exports, ranging from automotive parts to jewelry, are expected to grow by at least 20 percent over the next two years due to the government's aggressive policy to stimulate the sector, the national news agency said yesterday. Commerce Minister Somkid Jatusripitak told the Thai News Agency he believed exports would meet government targets of 20 percent growth this year and 25 percent next. He said demand for Thai products on the global market was continuing to rise.
Web site apologizes to Lees
A financial news Web site has apologized to Singapore's top leaders for an article that described investment company Temasek Holdings as "the Lee family trust." Two letters, one addressed to Prime Minister Lee Hsien Loong, Senior Minister Goh Chok Tong and Singapore's founding father Lee Kuan Yew, and the other to Temasek Holdings, were posted Friday on FinanceAsia's Web site and will remain for two weeks. The letters appeared yesterday in Singapore media. The editors of the Hong Kong-based Web site acknowledged that the allegations were completely false and without foundation. They also agreed to pay undisclosed damages by way of compensation to the three ministers, Temasek Holdings and its board members.
Seven arrested in China
The chairman and six other executives of troubled electrical appliance maker Guangdong Kelon have been arrested in south China on suspicion of economic crimes, state media reported yesterday. The company had announced earlier that its chairman, tycoon Gu Chujun (顧雛軍), and four other company executives had been detained by the authorities for unspecified economic offenses.