Sat, Aug 25, 2007 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

TSMC ups stake in Vanguard

The world's biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), yesterday said its board had approved plans to buy an additional 11 percent stake in local chipmaker Vanguard Semiconductor Corp (世界先進) in a deal worth up to NT$5.55 billion (US$168 million), or NT$29.7 per share via bloc trade.

After the transaction, TSMC's stake in Vanguard will rise to 37.8 percent from 26.8 percent.

"The planned transaction will strengthen our business alliance with Vanguard and is part of our 8 inch wafer strategy," TSMC chief financial executive Lora Ho (何麗玫) said in a statement.

TSMC has said it would increase its capacity for making 8-inch wafers to meet demand.

Future purchases of shares in Vanguard would depend on the share price and outlook for the semiconductor industry, Ho said.

EVA adds another Boeing jet

EVA Airways Corp (長榮航空) said yesterday it had taken delivery of a new Boeing 777-300ER jet to expand its fleet.

The aircraft, the seventh of its kind at the airline, will serve on its Taipei to Los Angeles, California, route, the carrier said in a statement yesterday.

The company is scheduled to receive another B777 later this year and plans to add a total of 15 B777-300ER aircraft to its fleet by 2010, the statement said.

US wheat shipment under way

The Taiwan Flour Millers Association, which represents 34 grain users, bought 46,000 tonnes of US No. 1 wheat from trading house Mitsui & Co in a tender yesterday after the government temporarily loosened pesticide regulations.

The shipment will arrive in October and prices are on a free-on-board basis from the Columbia River District, including Portland, the association said.

The association originally planned to buy 92,000 tonnes of US wheat in two shipments. It decided not to buy the second shipment because prices were "too high," Huang Ching-ho (黃錦和), secretary-general of the industry group, said in Taipei.

Taiwan did not buy 92,000 tonnes of US wheat in an Aug. 21 tender as no suppliers made offers, as a result of concern that shipments would be rejected because of Taiwan's pesticide rules.

M2 supply increases 4.65%

The nation's M2 money supply posted an increase of 4.65 percent last month, the central bank said yesterday in an online statement.

The central bank attributed the increase in M2, the broadest measure of the nation's money supply, to active trading on the stock market and steady growth in bank loans and investment.

Macronix extends IBM deal

Memory semiconductor maker Macronix International Co (旺宏電子) said yesterday it extended a three-year agreement with IBM Corp to develop chips used to store data in consumer electronics devices.

The agreement became effective on July 22 and ends on Jan. 21, 2010, Hsinchu-based Macronix said in a filing to the Taiwan Stock Exchange that didn't disclose financial terms.

NT dollar remains weak

The New Taiwan dollar yesterday remained weak against its US counterpart on continued foreign capital outflows and US dollar demand by oil firms, dealers said.

The NT dollar traded NT$0.035 lower at NT$32.98 on the Taipei Forex Inc. Turnover was US$590 million. The currency declined 0.2 percent this week.

Foreign fund managers yesterday sold a net of NT$5.98 billion (US$181.5 million) worth of Taiwan stocks, the Taiwan Stock Exchange's data showed.

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