Fri, Apr 27, 2007 - Page 11 News List

Business Briefs

AGENCIES

Profit-taking pares TAIEX gain

Shares closed 0.19 percent higher yesterday after late profit-taking pared gains made earlier on the back of Wall Street's overnight record performance, dealers said.

The TAIEX added 15.39 points to 8,000.04 but was off a high of 8,052.55 on turnover of NT$96.42 billion (US$2.92 billion).

On the foreign exchange market, the New Taiwan dollar dropped NT$0.024 against the US dollar to close at NT$33.216. Yesterday's turnover was US$970 million at the Taipei Forex Inc.

Bank to study Temasek model

A feasibility study would be conducted on whether to set up a company modeled on Singapore's Temasek Holdings Pte to invest the nation's foreign reserves, said George Chou (周阿定), deputy governor of the nation's central bank.

"We'll study ways to improve our foreign reserve returns, including the Temasek model," Chou said, without elaborating. "There is still a long way to go."

Taiwan has foreign reserves of US$267.5 billion, the central bank reported on April 4.

About US$150 billion of the reserves, or 56 percent, is "hot money" for short-term investment, Chou said. The balance is in longer-term holdings, he said.

Asustek posts increased profit

Asustek Computer Inc (華碩電腦) yesterday reported a 26 percent increase in profits for last year.

Net income rose to NT$19.2 billion (US$578.6 million), or NT$5.43 a share, from NT$15.28 billion, or NT$4.51 a share, a year earlier, the company said.

The company said on Tuesday that it would pay a dividend of NT$2 per share for last year.

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