Thu, Jan 08, 2009 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

Lottery firm posts brisk sales

Taiwan Lottery Co (台灣彩券), a subsidiary of Chinatrust Financial Holding Co (中信金控), yesterday reported that sales last year reached NT$73.15 billion (US$2.22 billion), up nearly 14 percent, or NT$9 billion, from 2007.

Taiwan Lottery, which was appointed to operate the Public Welfare Lottery by the Ministry of Finance, said the average monthly income of local computerized lottery ticket distributors rose to NT$76,000 last year from NT$64,000 a year earlier. This also helped lottery retail stations to see an average increase of 18.8 percent in their monthly income.

China to ease credit

The Beijing government will ease lending restrictions to help Taiwanese companies raise capital in China to weather the financial storm, a Chinese government spokesman said.

China will simplify the application process for bank loans, ease lending limits and remove curbs that had been placed on Taiwanese borrowers, Taiwan Affairs Office spokesman Yang Yi (楊毅) said yesterday in a televised press briefing in Beijing.

Chinese banks extended 230 billion yuan (US$33.6 billion) in loans to Taiwanese borrowers in 2007, Yang said.

The nation’s securities regulator also approved plans by 11 Taiwanese firms to sell Class A shares in China to raise equity capital, he said without elaborating.

AUO appoints finance chief

AU Optronics Corp (AUO, 友達光電), the world’s No. 3 liquid-crystal-display (LCD) panel maker, appointed Andy Yang (楊本豫) to succeed Max Cheng (鄭煒順) as financial executive, in line with the company’s long-term efforts to enhance growth.

Cheng, who helped AUO maintain its sound financial structure during two major merger deals, will be promoted to executive vice president. Cheng will be in charge of the company’s long-term business investment strategy, including solar photovoltaic technology and other new business planning and management.

The personnel change will take effect on March 1.

CAL to stop tobacco promo

China Airlines Ltd (CAL, 中華航空), the nation’s largest air carrier, yesterday said it would no longer promote tobacco products in its in-flight duty-free catalogs starting on Sunday to comply with the Tobacco Hazards Prevention and Control Act (菸害防治法).

In line with the new law banning the promotion and advertising of tobacco products, CAL said it would stop displaying tobacco products in its in-flight shopping magazine and duty-free carts.

Passengers who wish to buy tobacco products will have to contact cabin attendants to purchase them.

Lite-On’s sales edge up

Lite-On Technology Corp (光寶科技) yesterday reported that revenues reached NT$7.3 billion (US$221.4 million) last month and NT$25.3 billion last quarter.

The Taiwanese maker of electronic components said that full-year revenue last year totaled NT$142.07 billion, up 4 percent from a year earlier.

The company said that sales of imaging products posted the strongest growth among its core products. Revenue last month rose 14 percent from the year before and 22 percent for the full year, thanks in part to robust sales of camera modules for high-end handsets and notebook computers, which increased by 60 percent.

NT dollar advances

The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.074 to close at NT$32.980. Turnover was US$908 million.

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