TAIEX dips on voucher plan
Shares closed down 0.49 percent yesterday, despite the government’s latest bid to boost the economy with a multibillion-dollar shopping voucher scheme, dealers said.
The weighted index fell 21.09 points to close at 4,284.09, off a high of 4,320.85 and a low of 4,226.49, on turnover of NT$48.97 billion (US$1.49 billion).
Decliners led gainers 683 to 617, with 372 stocks unchanged. A total of 58 stocks closed limit-down and 54 limit-up.
Court acquits former minister
The Taiwan High Court upheld yesterday the acquittal of former minister of finance Yen Ching-chang (顏慶章), who was charged with violating a revolving-door ban when he became chairman of Fuhwa Financial Holding Co (復華金控) soon after his retirement from public service in 2005.
Concurring with a ruling issued on Sept. 12 by the Taipei District Court, the High Court said Yen did not violate the rule because he had left the ministerial position three years before assuming the Fuhwa chairmanship.
Under the terms of the Civil Service Act, civil servants are banned for three years after they leave office from taking top positions in any company they supervised during the five-year period before their departure.
Yen in June 2005 assumed chairmanship of Fuhwa Financial, an enterprise whose establishment was approved by the Ministry of Finance on Dec. 31, 2001, when Yen was head of the ministry.
Tatung may offer WiMAX
Tatung InfoComm Co (大同電信) said yesterday it had obtained a WiMAX operating license from the National Communications Commission (NCC), clearing the last hurdle for the telecom company to offer WiMAX services in the first quarter of next year at the earliest.
That will also make Tatung the first local telecom operator to offer the high-speed mobile service.
The commission issued six WiMAX licenses to local telecom companies in July last year. However, Tatung was the first to complete all base station and network infrastructure work.
The company may start commercial operations in Penghu next quarter.
Quanta plans to step up M&As
Quanta Computer Inc (廣達電腦), the world’s largest contract manufacturer of notebook computers, plans to step up acquisitions next year to expand into new product areas and take advantage of falling stock prices.
“Medical devices and automobile electronics look to be good areas to move into,” Tim Li (李杜榮), chief financial officer for the Taoyuan-based company, said in a telephone interview late on Tuesday. “Next year will be the perfect year for mergers and acquisitions.”
Quanta, which gets 88 percent of its sales from making laptops for clients such as Apple Inc and Acer Inc (宏碁), is seeking to broaden its product range. The company also wants to acquire suppliers such as makers of electronic components and materials, Li said, without naming companies or saying how much it may spend.
In March, Quanta bought a 17 percent stake in Kontron Asia Inc (控創科技), a maker of industrial computers, and is a minority shareholder in Simplo Technology Co (新普科技), the world’s largest maker of notebook battery packs.
NT dollar loses ground
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.031 to close at NT$33.265.
A total of US$532 million changed hands during the day’s trading.
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