Tue, Sep 14, 2010 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

Lenovo seeks to diversify

Lenovo Group Ltd (聯想), China’s biggest maker of personal computers, aims to develop smartphone applications in-house as it seeks to win market share from Apple Inc, chairman Liu Chuanzhi (柳傳志) said.

“Besides hardware, there is the software content we also must think about,” Liu told the Netrepreneur Summit in Hangzhou, China. “We must move in this direction because the market for handsets is very competitive.”

Lenovo, maker of Thinkpad laptops, is diversifying in a quest to boost revenue. Last month the company said it plans to sell a game console in China by the end of this year. It started selling the LePhone smartphone on China’s domestic market in May.

Taiwan Cement secures loan

Taiwan Cement Corp (台泥) received a HK$1.92 billion (US$250 million), three-year loan to refinance debt, according to data compiled by Bloomberg.

The term facility is guaranteed by Hong Kong Cement Ltd and was organized by a group of five banks.

Central bank issues CDs

Taiwan’s central bank issued NT$327.1 billion in certificates of deposit (CDs) yesterday, more than the NT$291.2 billion that matured, the monetary authority said in a statement on its Web site.

The Central Bank sold 30-day certificates at 0.63 percent and 91-day at 0.67 percent, and 182-day at 0.77 percent, according to an official statement.

Yulon surges in China

Yulon Group (裕隆集團), the nation’s largest automaker, is expected to see mass vehicle production from its latest venture in China ahead of schedule, according to the Chinese-language Economic Daily News.

The company announced early last month that it would set up a joint venture called Dongfeng Yulon (東風裕隆), along with ­Dongfeng Automobile Co (東風汽車), China’s fourth-largest automaker, to produce Yulon’s first own-brand minivan “Luxgen.”

The first-phase facilities would be completed in the first quarter, instead of the planned for fourth quarter next year, the paper said.

The venture has also begun looking for distributors in China, and is expected to work with more than 100 partners to showcase and sell Luxgen vehicles when mass production starts in the first quarter.

Both Yulon and Dongfeng hold a 50 percent stake in the venture — which cost an initial investment of 1.55 billion yuan (US$229 million) and is located in Hangzhou, Zhejiang Province.

UMC buys equipment

United Microelectronics Corp (UMC, 聯電), the world’s second-biggest contract chipmaker, bought NT$687 million of equipment from Tokyo Electron Ltd between Aug. 9 and Sept. 13, the Hsinchu-based company said in a statement to the stock exchange on yesterday.

TAITRA aims offer at SMEs

Small and medium-sized exporters that sign up for or renew Taiwantrade Web site membership will be offered discounted Dun & Bradstreet (D&B) accreditation, the Taiwan External Trade Development Council (TAITRA, 貿協) said yesterday.

TAITRA, Taiwan’s largest nonprofit trade promotion organization, signed a deal yesterday that will offer the next 3,000 new or renewed members Data Universal Numbering System logos from D&B, the world’s biggest provider of business credit services, for NT$3,000. The usual fee is NT$16,800, TAITRA said.

NT dollar up against greenback

The NT dollar rose against its US counterpart yesterday, up NT$0.06 to close at NT$31.850.

Turnover totaled US$806 million during the trading session.

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