Sun, Oct 16, 2005 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ Electronics
Compal, Flextronics link up

Compal Electronics Inc (仁寶) and Flextronics International Ltd will form a venture in Shanghai, the Commercial Times said, without saying where it obtained the information. Compal will invest US$6 million to take a 40 percent stake in the new company, to which Compal will outsource notebook and handset manufacturing services, the Taipei-based newspaper said, without providing additional details. Compal is the world's second-largest notebook computer maker, and Flextronics is the biggest maker of electronics for other companies.

■ Electronics

Samsung, Apple end talks

Samsung Electronics Co scrapped talks with Apple Computer Inc to build a factory to manufacture Nand flash memory, used in products such as Apple's line of iPod music players, Yonhap News reported yesterday. Apple turned to a "passive position" for the possible joint investment with Samsung, the report said, citing unidentified Samsung officials. The US company is now negotiating with other chip makers for a possible joint production of Nand flash memory, the report said, without citing where it obtained the information. Samsung, Asia's biggest maker of semiconductors and mobile phones, said on Friday that third-quarter net income fell 30 percent from a year earlier to 1.9 trillion won (US$1.8 billion), in line with earlier estimates.

■ Electronics

Sampo forms alliances

Sampo Corp (聲寶) has formed alliances with United Microelectronics Corp (UMC, 聯電) and Tatung Co (大同), the Commercial Times reported, citing Sampo chairman Eric Chen(陳盛泉). UMC has acquired an 8 percent stake in Rechi Precision Co (瑞智), of which Sampo owns 44 percent, the Taipei-based paper said. UMC supplies semiconductors to Rechi and the two may jointly develop components for washers and refrigerators, the paper said. Sampo and Tatung have agreed to cooperate in outsourcing and procurement of compressors for air conditioners and refrigerators, the paper said. Sampo and Tatung make electronics products and home appliances. UMC is the world's second-biggest maker of made-to-order chips, while Rechi produces compressors for air conditioners and heaters.

■ Investment

Insurance for Singapore

A new plan enabling shareholders to take out insurance to cover possible losses in the value of their portfolios will be launched in January by the Securities Investors Association of Singapore. When a shareholder dies, the beneficiary of his estate could get up to double the market value of the shares at that time, said association president David Gerald on the sidelines of a corporate governance seminar. At the very least, the beneficiary would receive a minimum sum that was equal to the market value of shares to assist with funeral expense, Gerald said. The association is working with an insurance player to finalize such details as the premium amount. The insurance scheme is expected to include a cap on the portfolio value that would be covered. The new policy is part of the association's aim to "attract serious investors and offer them value-added services," Gerald said.

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