Wed, Sep 18, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer


CPT haggles with creditors

Debt-ridden flat-panel maker Chunghwa Picture Tubes Ltd (CPT, 中華映管) yesterday said that its creditors, including LCD material supplier Echem Solutions Corp (新應材), have submitted requests to the Taoyuan District Court that CPT execute its obligations. As the company’s restructuring plan was rejected by the court, it faces an imminent risk of having its assets liquidated if the court approves the creditors’ requests. CPT continues to negotiate with creditors to repay its debts, the company said in a filing with the Taiwan Stock Exchange.


Phoenix files patent suit

Silicon wafer recycler Phoenix Silicon International Corp (昇陽半導體) has filed a patent infringement lawsuit at the Intellectual Property Court alleging that Integrated Service Technology Inc (宜特科技) has infringed on a patent for a wafer thinning process, the company said in a statement yesterday. Phoenix said that it is seeking unspecified damages for patent infringement and requesting that Integrated Service Technology cease using the process.


Taipower inks deal with MOJ

Taiwan Power Co (Taipower, 台電) yesterday signed a memorandum of understanding with the Ministry of Justice’s (MOJ) Investigation Bureau to have its cybersecurity system reinforced. This is the first time that a state-run company is working with the bureau. Taipower said that the bureau would provide it with critical information on cybersecurity management and have the bureau’s forensic investigators support Taipower as it looks to secure the supply and transmission of electricity.


Fubon opens Jakarta unit

Taipei Fubon Commercial Bank (台北富邦銀行) yesterday opened an office in Jakarta, the bank’s 30th overseas unit, to gain more momentum in Southeast Asia. The office would collaborate with branches in Singapore and Vietnam to provide consultation and hedging services to local clients and Taiwanese businesses in those regions, it said. Taipei Fubon expects to find solid business opportunities in Indonesia, it said, adding that Indonesia’s GDP is growing rapidly and accounts for 40 percent of Southeast Asia’s GDP.


Dyaco to issue 19m shares

Fitness equipment maker Dyaco International Inc (岱宇國際) yesterday announced that its board has approved a plan to issue 19 million new shares, which would increase the company’s paid-in capital by NT$190 million (US$6.12 million) to NT$960.63 million. The funds would be used to repay bank loans and improve its fiscal strength, it said in a regulatory filing. Dyaco’s gross margin increased by 5.37 percentage points to 27.27 percent in the first half of this year, while earnings per share improved to NT$0.49 from NT$0.43, as three of its main sub-brands posted sales increases over the period, the company said in a statement.


Yuan deposits rise again

Yuan deposits held by local banks last month rose for the second consecutive month to 266.41 billion yuan (US$37.54 billion), the central bank said yesterday. The latest figures suggested a 0.4 percent increase from the previous month, even though the yuan is losing value against the US dollar. Local insurers and fund houses opted to park money in yuan deposits to meet the need for investment tools after some foreign bond holdings matured, the bank added.

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