■ Stocks
Online trading ratio surges
The ratio of online stock transactions in Taiwan has grown 2,000-fold over the past eight years thanks to the popularity of the Internet, official statistics showed yesterday. The transactions conducted online accounted for 20 percent of all stock transactions as of January this year, compared with just 0.01 percent when the service was launched in July 1997. The number of online stock transaction users totalled 4.14 million by the end of January this year, the tallies showed.
■ Credit co-ops
Overdue loan ratio drops
The average overdue loan ratio of the 278 credit cooperatives run by farmers' and fishermen's associations nationwide decreased to 10.66 percent in January, down 0.26 percentage points over the previous month, the Council of Agriculture said yesterday. As of the end of January, the assets of the credit cooperatives totaled NT$1.58 trillion (US$48.8 billion), up NT$5.8 billion from the previous month. The net asset value was NT$82.7 billion, up NT$400 million from the previous month. The balance of deposits at the credit cooperatives amounted to NT$1.35 trillion as of the end of January, decreasing NT$9.6 billion over the previous month. Loans receivable saw a balance of NT$603.9 billion, up NT$9 billion from the previous month. The overdue loans amounted to NT$64.4 billion as of the end of January, down NT$600 million over the previous month.
■ Semiconductors
UMC plans NT$0.45 dividend
United Microelectronics Corp (UMC, 聯電), the world's second-largest supplier of made-to-order semiconductors, has proposed a dividend of NT$0.45 per share for last year, it said in a statement to the Taiwan Stock Exchange late on Friday. The dividend consists of a cash payment of NT$0.40 and a stock dividend of five common shares per 1,000 held by investors, the statement said. The proposal will be voted on in an annual shareholder meeting on June 12, the Hsinchu-based company said. The company also aims to distribute 45.8 million new shares to workers as bonuses.
■ Banking
Khodorkovsky group targeted
The bank accounts of a foundation led by an imprisoned Russian businessman, Mikhail Khodorkovsky, were frozen on Friday by court order, the foundation and its bank said, a move that strongly suggests the organization is about to be shut down. The group, the Open Russia Foundation, announced that it was forced to suspend its activities promoting civil society and accused the government of extending its crackdown on private organizations. The court action follows a general crackdown in Russia on private nonprofit organizations that receive foreign financing, all of which will be subject next month to a law signed in January restricting their activities.
■ Music players
Lawmakers pass iPod bill
Apple Computer Inc faces a serious challenge in France, where lawmakers have moved to sever the umbilical cord between its iPod player and iTunes online music store. Amendments to an online copyright bill, adopted early on Friday, would give rivals access to the hitherto-exclusive file formats at the heart of Apple's music business model as well as Sony Corp's Walkman players and Connect store. Lawmakers voted to approve the amended text on Friday and will hold a further formal vote on Tuesday, before the bill is sent to the Senate for its final reading.
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