Ya Hsin risks trading suspension

Ya Hsin Industrial Co (雅新實業) and two other listed companies are expected to be ordered to suspend their stock trading if they miss a deadline for submitting their financial reports for last year and the first quarter to bourse regulators, the Taiwan Stock Exchange said yesterday.

Ya Hsin, one of the nation's leading manufacturers of printed circuit boards, is under pressure to obtain financial support from creditor banks after its stock was banned from margin trading earlier last month on alleged financial flaws.

Its shares dropped by the 6.9 percent daily limit to close at NT$6.88 yesterday on the Taiwan Stock Exchange.

The other two companies are Helix Technology Inc (和立聯合科技), a maker of vacuum process equipment, and Orient First Industry Co (東正元電路工業), a supplier of printed circuit boards, the stock exchange said.

Helix shares, which have been banned from margin trading, closed at NT$8.79 on the Taiwan Stock Exchange yesterday, while Orient First dropped 6.19 percent to NT$0.91 on the over-the-counter GRETAI Securities Market.

The three firms are required to apply to the Taiwan Stock Exchange and GRETAI Securities Market for the suspension in accordance with the regulations.

The news followed similar news that shares of WEM Technology Inc (南曄科技), a supplier of CMOS PC cameras, USB hubs and wired peripheral-sharing devices, will be suspended from trading on the Emerging Stock Market (興櫃市場) for not filing its financial reports. The suspension starts today.

On April 9, Allied Material Technology Corp (展茂光電), formerly the nation's second-largest maker of color filters for flat panels, was suspended from trading its stock on the GRETAI because of financial difficulties.

These companies will be allowed to resume trading their stocks if they submit the reports within six months. If they fail to do so they will be delisted, the stock regulators said.