Yuanta to buy Vietnam firm
Yuanta Financial Holding Co (元大金控) said on Thursday that its brokerage unit, Yuanta Securities Co (元大證券), had agreed to acquire Vietnam’s The First Securities Joint Stock Co for 365.5 billion dong (US$12.56 million). The deal, which is pending regulatory approvals, is Yuanta Financial’s latest effort to expand through mergers and acquisitions after the firm signed a deal with New York Life Insurance Co to buy its local subsidiary for NT$100 million (US$3.32 million) on Tuesday.
Perfume battle over
The Intellectual Property Office won a legal battle on Thursday after the Supreme Administrative Court turned down a request to register “La Vie Est Belle” as a trademark for a French perfume. The court supported the office’s ruling in November 2011 rejecting Lancome Parfums et Beaute & Cie SA’s application to register the name as a trademark for one of its products on the grounds that the sentence meaning “life is beautiful” in French is not inherently distinctive.
MStar dividend approved
Shareholders of MStar Semiconductor Inc (晨星半導體), the world’s biggest supplier of chips used in LCD TVs, yesterday approved an NT$6 cash dividend per share, representing a 2.78 percent dividend yield. Last year’s earnings were NT$4.5 billion, or NT$8.53 per share.