Sat, May 18, 2013 - Page 14 News List

Taiwan Business Quick Take

Staff writer, with agencies

TELECOMS

No change in HTC holdings

Cher Wang (王雪紅), chairwoman of smartphone maker HTC Corp (宏達電), has not raised her holdings in the company for 10 months, statistics released yesterday by the Taiwan Stock Exchange showed. Wang owns 32.27 million shares of the company. The stock exchange’s statistics also showed that HTC chief executive Peter Chou (周永明) has not raised his holdings in the smartphone supplier since December, when he had 4.47 million shares.

Executives of listed companies tend to purchase shares of their own firms to boost investor confidence. HTC’s stock fell 1.72 percent to close at NT$285 yesterday.

ELECTRONICS

Foxconn plants improving

A labor group Apple Inc joined to assess working conditions at three manufacturing plants in China where its products are made says conditions are improving, but employees are still working more hours than the country’s legal limit. The Fair Labor Association said on Thursday that Apple’s largest supplier, Foxconn Technology Group (富士康科技集團), has made all recommended improvements to working conditions that were due by the end of December. The group says there have been “notable increases” in workers’ participation in union committees. Foxconn has reduced working hours, though not enough to comply with China’s legal limit of 49 hours per week. Foxconn is scheduled to do that by July.

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