Fri, Sep 02, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

Profit-taking hurts TAIEX

The TAIEX posted limited gains yesterday as profit-taking set in to erode early the upside after the index breached the technical resistance level of around 7,800 points, dealers said.

The index closed up 16.40 points or 0.21 percent at 7,757.76, after moving between 7,755.55 and 7,886.04, on turnover of NT$133.73 billion (US$4.6 billion).

ASE to buy back shares

Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) plans to buy back 50 million common shares, or 0.74 percent of total outstanding shares, the company said in a statement to the Taiwan Stock Exchange yesterday.

ASE plans to buy back shares at between NT$20 and NT$42 each from today through Nov. 1, it said.

CPC raises natural gas prices

State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) will raise domestic prices of natural gas for households by NT$0.46 per cubic meter starting today and keep liquefied petroleum gas prices unchanged this month, the refiner said in a statement yesterday.

CSC sells bonds

China Steel Corp (CSC, 中鋼), the nation’s largest integrated steelmaker, sold NT$9.3 billion worth of five-year unsecured bonds at 1.36 percent and NT$10.4 billion worth of seven-year bonds at 1.57 percent, the company said in an e-mailed statement yesterday.

Grand Cathay Securities Corp (大華證券) was the financial consultant for the deal, CSC said

Mitsubishi Heavy wins order

Mitsubishi Heavy Industries Ltd and CTCI Corp (中鼎工程) won an order from Taiwan Power Co (台電) to build three coal-fired thermal power units.

The 800 megawatt units will be built near Taipei and will go into operation between 2015 and 2020, Mitsubishi Heavy said in a -statement yesterday.

Mitsubishi Heavy will supply boilers and steam turbines and Mitsubishi Electric Corp will provide power generators, the statement said.

Taiwan Life plans share sale

Taiwan Life Insurance Co (台灣人壽) plans to sell 45 million new shares to raise a about NT$1.035 billion to help strengthen capital structure and fund operations, the company said in a statement to the stock exchange on Wednesday.

Banks make provisions

ProMOS Technologies Inc’s (茂德科技) creditor banks had set aside NT$29.4 billion (US$1.01 billion) for bad debts as of the end of last month, the Financial Supervisory Commission said in a statement on Wednesday.

The provisions cover 54 percent of the chipmaker’s outstanding loans with the 26 banks, the commission said.

Hannstar pays to settle case

Hannstar Display Corp (瀚宇彩晶) agreed to pay US$14.9 million in a US anti-trust case, the company said in a statement to the stock exchange on Wednesday.

DeNoma earns promotion

Chinatrust Financial Holding Co (中信金控) on Wednesday approved a plan to put the president and chief executive officer of its banking subsidiary Chinatrust Commercial Bank (中國信託商銀), Michael DeNoma, in charge of the parent’s banking business to help the group lift its global stature, Chinatrust Financial said in a statement.

DeNoma’s job will be filled by James Chen (陳佳文), a senior vice president in charge of institutional lending, the statement said.

NT dollar gains ground

The New Taiwan dollar continued gaining ground against the US currency yesterday, rising NT$0.06 to close at NT$28.96. Turnover totaled US$821 million during trading.

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