Thu, Aug 11, 2011 - Page 11 News List

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Staff Writer, with Agencies

HannStar charged in S Korea

HannStar Display Corp (瀚宇彩晶) has received an investigation report issued by South Korea’s Fair Trade Commission alleging it and other LCD panel makers violated Seoul’s competition law, the company said in a statement to the Taiwan Stock Exchange yesterday.

The commission has not detailed fines, the statement said.

HannStar is reviewing the report and will take appropriate action, it said.

Another Taiwanese maker, AU Optronics Corp (友達光電), said on Tuesday it was studying the case and would appeal the ruling.

Cracker to shut for 40 days

Formosa Petrochemical Corp (台塑石化), the nation’s only publicly traded oil refiner, said its No. 2 naphtha cracker was running at full capacity as it prepared to close one unit and another remained shut following a fire.

The No. 3 cracker will close for maintenance for 40 days starting on Monday next week, spokesman Lin Keh-yen (林克彥) said yesterday. The No. 1 unit has been halted since a fire in May.

Formosa Petrochemical does not have a timetable for the resumption of work at the No. 1 cracker, Lin said.

“We’ll restart it only when we’re sure it’s safe,” he said.

ITRI offers App 123 for free

The government-funded Industrial Technology Research Institute (ITRI, 工研院) yesterday said it had made its application writing software, called App 123, open to the public for free to help the country beef up its software talent.

The ITRI said writers, painters, bloggers and others who want to tap the apps market, but are not that tech-savvy, would be able to use the software to upload content such as images and words to create their own apps.

TSMC issue to buy assets

Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) plan to issue corporate bonds is aimed at raising funds for acquisitions to expand its non-core business to weather a cyclical slowdown in the global foundry industry, an analyst said yesterday.

“I expect TSMC to announce the acquisition of assets in the renewable energy sector and to finance the deal through the bond sale,” Grand Cathay Securities (大華證券) analyst Mars Hsu (徐振家) said. “The move to raise funds from the current interest rate environment is a good deal for TSMC.”

On Tuesday, TSMC said its board of directors had approved a plan to issue up to NT$35 billion (US$1.2 billion) in corporate bonds “to secure long-term, low fixed-cost funding.” The company did not elaborate.

Central bank sells T-bills

The government sold NT$30 billion of 273-day treasury bills at an average interest rate of 0.855 percent in an auction yesterday, the central bank said in a statement.

Bank denies Cathay interest

Union Bank of Taiwan (聯邦銀行) yesterday denied Internet reports that Cathay Financial Holding Co (國泰金控) was interested in acquiring the lender, the bank said in a statement to the stock exchange. Cathay Financial is the nation’s largest financial services provider.

NT dollar up on US stock surge

The New Taiwan dollar rose against the US currency yesterday, adding NT$0.04 to close at NT$29.01, as the local stock market rebounded after US stocks surged overnight, dealers said.

The central bank intervened in late trading, buying the greenback and helping the local currency recoup part of its early losses, they said.

Turnover totaled US$1.273 billion yesterday.

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