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TAIEX higher on Siew visit


The TAIEX closed up 1.55 percent yesterday on hopes of improving links with China after news that the vice president-elect planned to attend a conference in China, dealers said.


The weighted index closed up 133.45 points at 8,729.79 on turnover of NT$134.52 billion (US$4.43 billion).


Risers led decliners 1,517 to 627, with 340 stocks unchanged. A total of 53 stocks closed limit-up, while 16 were limit-down.


On the foreign exchange market, the NT dollar gained ground against its US counterpart in line with stock market gains. The NT dollar rose NT$0.012 to close at NT$30.418.


Turnover was thin at US$992 million yesterday, down from US$1.142 billion on Thursday.


Chi Mei confirms loan report


Chi Mei Optoelectronics Corp (奇美電子), the nation’s second-largest maker of liquid-crystal displays, said it’s seeking to borrow US$700 million from banks to boost its working capital.


“We are currently negotiating a syndicated loan from banks,” Loreta Chen (陳靜燕), a spokeswoman for Tainan-based Chi Mei, said by telephone yesterday, confirming a report in the Chinese-language Commercial Times.


She did not provide a timeline or comment on which banks were involved in the talks.


Chi Mei, Quanta Computer Inc (廣達電腦) and Compeq Manufacturing Co (華通電子) plan to borrow more than a combined US$1 billion to fund expansion, the Commercial Times reported yesterday, citing unidentified bankers.


Compeq chief financial officer Y.C. Huang (黃鋆澄) said the company would borrow US$76 million.


LG Display in joint venture


LG Display Co, the second-largest maker of liquid-crystal displays, and Skyworth Digital Holdings Ltd (創維數碼控股) have agreed to invest 50 million yuan (US$7 million) in a research and development center as part of a partnership.


The two companies will invest 25 million yuan each and Skyworth will acquire a minority stake in LG Display’s LCD module plant in Guangzhou, China, LG Display said in a statement yesterday.


LG Display will supply television panels to Hong Kong-based Skyworth, which makes TVs for customers including LG Electronics Inc, the statement said.


LG Display said last month it’s considering an alliance with firms including AmTRAN Technology Co (瑞軒科技).


Asustek files suit against IBM


Asustek Computer Inc (華碩電腦) said yesterday it had filed a patent infringement suit against IBM Corp in a US court earlier this month.


“We sued IBM for infringing two of our patents related to storage on the Internet and server technology,” an Asustek spokesman said, who declined to give more details.


Asustek’s move is part of a legal battle that started in December, when IBM filed a complaint with the US International Trade Commission against Asustek and its North American subsidiary ASUS Computer International.


IBM sought import restrictions on some Asustek computer products and components, which it claims infringed its patents.


Asustek produces a wide range of information technology products.


Warsaw exchange inks pact


The Warsaw Stock Exchange plans to encourage companies traded in Taiwan to list their shares in the Polish capital after the company signed agreements on cooperation with Taiwan’s bourse.


The exchange will also work with the Taiwan Futures Exchange and GRETAI Securities Market, Taiwan’s biggest bourse for bonds, to introduce new indices and investment products, it said in an e-mailed statement yesterday.



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