Thu, May 19, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

Dell news boosts TAIEX

Taiwanese shares scored gains yesterday, led by the bellwether electronics sector, after sentiment was boosted by US high-tech giant Dell Inc’s better-than-expected first-quarter results, dealers said.

The TAIEX rose 60.75 points, or 0.68 percent, to 8,944.84, after moving between 8,885.40 and 8,946.99, on turnover of NT$87.18 billion (US$3.02 billion)

First Commercial sells bonds

First Commercial Bank (第一銀行) has sold NT$3 billion in unsecured subordinated bonds, parent First Financial Holding Co (第一金控) said in a statement to the Taiwan Stock Exchange yesterday.

The lender sold NT$2.5 billion in seven-year notes at an annual interest rate of 1.65 percent and NT$500 million in 10-year debt at 1.72 percent, the company said.

Hon Hai fails to sell bonds

Hon Hai Precision Industry Co (鴻海精密) failed to sell NT$4.95 billion in unsecured bonds in an auction and it plans to reopen bids for the offer, a company document said.

The company expects to sell NT$4 billion in five-year bonds and NT$950 million in seven-year debt, the company said.

Foxconn outlines profit drive

Foxconn International Holdings Ltd (富士康控股) said the sale of excess facilities and termination of unprofitable operations would help the company post a “dramatic improvement” in financial results this year.

The company plans to consolidate sites in Beijing, Lang Fang and Tianjin in China and will sell a facility in Taiyuan to its parent, chief executive officer Samuel Chin (陳偉良) said after the company’s annual general meeting in Hong Kong yesterday. Foxconn will also diversify by adding new customers, while expanding relationships with companies including Huawei Technologies Co (華為).

“Profitability, profitability, profitability: That’s our drive,” Chin said at a press briefing.

ITRI to receive award

The Industrial Technology Research Institute (ITRI, 工研院) was to receive the Society for Information Display’s Silver Display Component of the Year Award yesterday in Los Angeles for its invention of a flexible substrate for displays.

The invention is currently the first and only technology to allow for the mass production and development of flexible and transparent displays of all sizes, according to an ITRI statement.

This year’s Display of the Year Awards recognize innovative display products, components and applications that hold the most promise for shaping the future of the global display industry.

Chunghwa joins up with China

Chunghwa Telecom Co (中華電信) and China Telecom Corp (中國電信) signed an agreement to cooperate on cloud computing, including technology development, the Taipei-based firm said in a stock exchange statement yesterday.

GRETAI to sponsor seminar

GRETAI Securities Market, the operator of the nation’s biggest debt exchange, is to sponsor a seminar on Tuesday on an initial public offering (IPO) and Taiwan depositary receipt (TDR) issuances, the institution said on its Web site.

The seminar, to be held from 2pm to 6pm at the Grand Hyatt in Taipei, is intended to help set up a high-tech and innovative businesses’ fund-raising platform, the institution said.

NT gains ground against dollar

The New Taiwan dollar gained ground against the US currency yesterday, adding NT$0.015 to close at NT$28.850 on a recovering euro, dealers said.

Turnover totaled US$687 million during the trading session.

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