Print

Mail

wiki links

Business Briefs

TSMC buys Nanya bonds

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest custom chipmaker, bought NT$989 million (US$30.5 million) in Nan Ya Plastics Corp (南亞塑膠) bonds to trim its cash on hand.

The bonds will mature between June 14 next year and Aug. 12, 2010, the Hsinchu-based chipmaker said in a stock exchange filing yesterday.

The company did not disclose financial details.

TSMC redeemed NT$1 billion in financial products bought from Taishin International Bank (台新銀行), the banking unit of Taishin Financial Holdings Co (台新金控), on Oct. 1 and had NT$147 billion in cash and cash equivalents as of June 30, its latest financial statement showed.

Nan Ya Plastics is the world’s largest processor of plastics for pipes and imitation leather.

Quanta to buy back shares

Quanta Computer Inc (廣達電腦), the world’s largest maker of notebook computers, announced plans to buy back 2.74 percent of its own shares.

Quanta will buy 100 million of its own shares at between NT$25 and NT$55 each, from today through Dec. 15, the Taoyuan-based company said in a stock exchange filing yesterday.

The notebook maker’s share price rose 3 percent to NT$35.60 yesterday.

China Steel raises funds

China Steel Corp (中鋼), the nation’s largest steelmaker, said it auctioned NT$9.6 billion (US$296.2 million) in five-year bonds to raise funds for building plants.

The debt will pay an annual interest of 2.42 percent, the Kaohsiung-based company said in an e-mail yesterday. Proceeds will help fund a subsidiary’s mill and a cold-rolled steel plant, executive vice president Chung Le-min (鍾樂民) said by telephone.

“We think there’s still room” for new plants in the country, Chung said.

Taiwan’s annual production of about 25 million tonnes of steel isn’t enough to meet local demand, he said.

China Steel, 22 percent owned by the government, has a twAAA rating from Taiwan Ratings Corp (中華信評), the highest for any Taiwanese company from the Standard & Poor’s subsidiary.

Taisugar to expand farm

State-run Taiwan Sugar Corp (Taisugar, 台糖) has decided to expand the scale of its organic farming operations amid strong public demand, it said in a press release yesterday.

Taisugar will expand the land area devoted to cultivating organic rice from the current 25 hectares to 113 hectares, which is expected to increase its annual output to 450 tonnes.

The company will also extend its organic fruit and vegetable cultivation to several townships in the Kaohsiung and Yunlin areas, through which it hopes to expand its annual output to 300 tonnes, it said.

The company has organic fruit and vegetable farms totaling 3.4 hectares in Huwei Township (虎尾) in Yunlin County, Shanhua Township (善化) in Tainan County and Nanzih District (楠梓) in Kaohsiung City.

A recent public scare over contaminated food imports from China, including dairy products tainted with the industrial chemical melamine, has boosted demand for local produce, pushing the company to step up its organic farming projects.

NT dollar declines

The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, sliding NT$0.012 to close at NT$32.400.

Turnover reached US$1.012 billion.


This story has been viewed 916 times.