Sat, May 06, 2006 - Page 11 News List

Business Quick Take

AGENCIES

■ Forex reserves expand

The nation's foreign exchange reserves amounted to a record US$259.03 billion at the end of last month, up US$1.98 billion compared with the previous month, according to central bank statistics released yesterday. The increase reflected investment returns on the foreign exchange reserves and the appreciation of the euro and the pound, the bank said in a statement. The nation's reserves are the third-highest in the world, trailing those of China and Japan.

■ BenQ seeks bank loan

BenQ Corp (明基), the nation's biggest cellphone maker, is seeking a NT$10 billion (US$315.5 million) secured loan after it scrapped a planned bond sale in March following a fourth-quarter loss, bankers involved in the deal said. The loan will be secured using some of the shares the firm owns in AU Optronics Corp (友達光電), the nation's biggest liquid-crystal display maker, said the bankers, who declined to be named. The company is still negotiating the loan terms with the banks, said David Huang (黃仁宏), BenQ's deputy spokesman, in an interview on Wednesday.

■ NT dollar heads higher

The New Taiwan dollar rose against the greenback yesterday, as foreign fund inflows for local stock purchases continued, dealers said. The local currency climbed NT$0.043 to close at NT$31.646 on the Taipei foreign exchange market. Turnover was US$822 million, compared with US$1.201 billion the previous day. Foreign investors bought a net NT$16.63 billion (US$526 million) in local stocks yesterday.

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