■ Acer signs licensing deal
Acer Inc, the fourth-largest name-brand personal computer vendor in the world, said yesterday it has been granted patent licensing on computer system memory management from Integraph Hardware Technologies of the US. "The patent licensing involves flash memory chips used in Pentium level central processing units equipped in laptop and desktop computers," an Acer spokesman said. The two companies signed the patent agreement on Friday. However, Acer declined to disclose other details about the agreement.
■ CDFHC makes special report
China Development Financial Holding Corp (中華開發金控) yesterday made a special report on its controversial hostile takeover bid for Taiwan International Securities Corp (金鼎證券) to its board of directors on the demand of new chairman Lin Cheng-yi (林誠一), who said later on that he recognized the company did not commit any unlawful activities during the process. The ad hoc meeting progressed smoothly and all the directors agreed to improve corporate governance in the future, China Development's vice president of corporate affairs Civi Tsai (蔡玉如) said yesterday. Tsai however declined to elaborate on Lin's decision on whether to proceed with the acquisition of Taiwan International Securities, citing confidentiality. The financial group announced yesterday that it has stepped up its shareholding in the targeted brokerage to 41.08 percent. China Development Financial is expected to carry on with its takeover of Taiwan International Securities or it would need to bear all the investment loss, SinoPac Securities Corp's analyst Chu Yu-chun (朱玉君) said. The financial holding firm is facing a judicial investigation of its alleged involvement in insider trading amid its hostile takeover attempt after the financial regulator handed over the case to prosecutors earlier this month.
■ Chen named Taipower chief
Edward Chen (陳貴明), president of Taiwan Power Co (台電), was named as the state-run utility's chairman, the Ministry of Econ-omic Affairs said in a statement released yesterday. Chen, 58, who has a master's degree in nuclear engineering from National Tsinghua University, will succeed Morgan Hwang (黃營杉), who was appointed minister of economic affairs, it said. The government owns 97 percent of Taiwan Power, which generates about 75 percent of the electricity the nation uses and monopolizes transmission. One major task for the new chairman is the adjustment of electricity prices. Fuel costs have surged by NT$70 billion from 2003 to date, Chen said. The company is evaluating the mechanism for the price hike, and may increase the rates for consumption of over 110 kilowatt-hours per month, he said. The average household electricity consumption is about 360 kilowatt-hours per month, he said.
■ Tesco after local suppliers
Tesco, the UK's largest supermarket chain, is to hold a procurement presentation to attract local suppliers of cosmetics, automobile accessories, stationery, toys and children's products, a spokesman for the Taiwan External Trade Development Council (TAITRA, 外貿協會) said over the weekend. Tesco is organizing the event at TAITRA'S invitation, the spokesman said. Tesco opened its first local outlet at the end of 2000 in Taipei's Nangang District. The shop was acquired from Makro, a Dutch group that shifted its business to wholesale from retail. Tesco is set to pull out of Taiwan's retail market later this year.
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