Amcham elects new chair
The American Chamber of Commerce in Taipei has elected Thomas Fann (范炘), president of the Ford Lio Ho Motor Co (福特六和), as the trade group’s chairman, starting next year. Fann had been serving as acting chairman since September, following the transfer of Alan Eusden of Corning Display Technologies back to the US. Fann joined Ford as a senior engineer in 1993 and was named president of Ford Lio Ho last year.
Innolux to issue 2bn shares
Innolux Corp (群創光電), the nation’s largest LCD panel maker, said in a filing to the Taiwan Stock Exchange yesterday that it planned to issue as many as 2 billion common shares via rights issue for local investors, or for global investors. The proceeds will be used in expanding factory capacities, raw material purchase and to repay bank loans, the filing showed.
US$1.65bn raised in China
Taiwan has held five trade fairs in China this year that have drawn 1.19 million visitors and generated US$1.65 billion in new business for Taiwanese companies taking part in them, the Taiwan External Trade Development Council (TAITRA) said yesterday. Since the first event, the TAITRA has hosted 27 such fairs in 16 Chinese cities, that have generated US$11.97 billion in new business and helped open doors to Taiwanese products in the Chinese market, it said.