Wed, Aug 23, 2006 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ SST to license SuperFlash

Silicon Storage Technology Inc (SST), a flash memory maker based in Sunnyvale, California, and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) announced on Monday the two companies have signed a new technology development and licensing agreement that will offer the first licensable 90-nanometer embedded flash technology, according to a statement released by SST.

Under the terms of the agreement, TSMC will license SST's next-generation 90-nanometer SuperFlash technology as part of TSMC's embedded flash memory portfolio.

■ Shin Kong posts earnings

The board of Shin Kong Financial Holding Co (新光金控) approved its financial reports that showed earnings of NT$6.08 billion (US$185.59 million), or NT$1.4 per share, and total asserts worth NT$1.39 billion in the period of January through June of this year, the company said yesterday.

For the first seven months of this year, Shin Kong Financial posted net profits of NT$6.65 billion, or NT$1.53 per share, mainly contributed by flagship unit Shin Kong Life Insurance Co (新光人壽), one of Taiwan's top-three life insurers. Shin Kong Life had net profits of NT$9.06 billion, or NT$4.1 per share, the company said.

On Friday, Shin Kong Financial will receive a NT$7 billion investment from partner Dai-ichi Mutual Life Insurance Co, Japan's second-largest life insurer. Dai-ichi will also provide assistance with product development, asset management, and information technology.

■ Stocks rise on Motorola report

Shares of Taiwanese electronic makers Cheng Uei Precision Industry Co (正崴精密) and Advanced Connectek Inc (連展科技) rose on reports the companies received orders from Motorola Inc.

Cheng Uei's stock gained 3.5 percent to close at NT$119, while Advanced Connectek climbed 6.9 percent to close at NT$22.55.

The Taipei-based companies received orders for connectors used in cellphones after Motorola's China factory switched orders from six Japanese suppliers, the Chinese-language Economic Daily News reported. The newspaper said Dennis Liou (柳夜沙), Advanced Connectek manager, confirmed that the company received the orders.

However, Cheng Uei spokesman Liao Kuei-lung (廖桂隆) said "Motorola is one of our existing customers, but we have no comment on the reports about the orders."

■ Balance of payments drops

Taiwan's balance of international payments posted a surplus of US$480 million in the second quarter of this year, down from US$2.2 billion in the previous quarter, the central bank reported yesterday.

Central bank officials attributed the drop to the preference of people in Taiwan for investing in foreign mutual funds and to the tendency of many local insurance companies to invest in overseas markets.

The financial account registered a net outflow for the fourth consecutive quarter.

The international payments surplus amounted to US$2.72 billion in the first half of this year, with a surplus of US$10.63 billion on the current account and a net outflow of US$10.25 billion on the financial account, the officials said.

In the second quarter of this year, direct investment and equity investment saw a net outflow of US$790 million and US$6.64 billion, respectively, they said.

■ New Taiwan dollar weakens

The New Taiwan dollar weakened against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.07 to close at NT$32.760 on a turnover of US$690 million.

This story has been viewed 2298 times.
TOP top