Tue, Nov 28, 2006 - Page 3 News List

ASE deal is proof of nation's economic strength: president

By Ko Shu-ling  /  STAFF REPORTER

President Chen Shui-bian (陳水扁) said yesterday that the purchase of a local chip-testing company by a US firm showed that the economy was doing well.

"I am proud to see the Carlyle Group plans to buy Advanced Semiconductor Engineering (ASE), the world's largest chip testing and packaging company," Chen said. "It indicates that foreign investors have confidence in Taiwan's high-tech industry and the local market."

Chen said that Taiwan was not a sealed-off island, but a part of the world.

Chen said that Carlyle has bought the Eastern Multimedia Group with NT$46 billion (US$1.4 billion) and planned to spend NT$170 billion to purchase Advance Semiconductor.

As Carlyle has placed great importance on Australia and Taiwan, he said that the firm's investment in the local companies reflected the fact that Taiwan is a place worth investing in.

"They decided to invest in Taiwan because they think the deal will bring them profits," he said.

Chen said that he hoped to see the unemployment rate drop further than the current level of 3.9 percent.

As the TAIEX hit a six-year high yesterday, Chen said that he didn't think that it would just be a dream that the stock market could hit 10,000 points in two years.

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