NT$30bn in bonds sold
Taiwan's government sold NT$30 billion (US$899 million) in two-year bonds at a yield of 1.932 percent, higher than the rate of return from the last sale of comparable debt.
The yield was 1.898 percent in the previous sale on May 9 last year. Today's auction drew bids equal to 2.2 times the offering, compared with 1.97 times at the last sale, according to a central bank statement issued yesterday.
TSMC signs with Spansion
Taiwan Semiconductor Manufact-uring Co (TSMC, 台積電), the world's top contract chipmaker, yesterday said it signed an agreement with Spansion Inc to begin joint technology development in making memory chips at advanced 40-nanometer and more advanced technologies.
TSMC will make the processes production-proven and plans to bring Spansion's advanced Nor-type Flash memory technologies to volume, according to a joint statement. Specific terms of the agreement were not disclosed.
TSMC started supplying Flash memory chips made on 110 nanometer technology to Spansion last year. It planned to supply such chips made on advanced 90-nanometer technology in the middle of this year.
Vibo to acquire WiMAX license
Vibo Telecom Inc (威寶電信), the nation's latest third-generation (3G) mobile operator, yesterday said it planned to work with Tecom Co (東訊電信) to acquire a WiMAX license in the June auction.
Vibo planned to form a joint venture with Tecom, Vibo chairman Rock Hsu (?? said.
Tecom is a telecom affiliate of home appliances maker Teco Electric & Machinery Co (東元電機).
Separately, Vibo expected to raise NT$5 billion by selling shares next quarter, Hsu said. Vibo would not rule out the possibility of seeking cooperation with overseas investors, he said.
NT dollar drops for six day
The New Taiwan dollar dropped for a sixth day and fell to its lowest level in one-and-a-half years yesterday due to fund outflows as investors borrowed the local currency to buy higher-yielding assets elsewhere, dealers said.
The NT dollar closed NT$0.022 lower at NT$33.335 against the US dollar on the Taipei Forex Inc, on turnover of US$882 million.
Hua Nan names candidates
State-controlled Hua Nan Financial Holdings Co (華南金控) yesterday announced candidates for board of directors and supervisors, allowing state and private shareholders to solicit proxy votes ahead of its board election on June 15.
The government, controlling 33.88 percent in the firm, nominated eight board seats and three supervisor spots, with Taiwan Integrated Shareholder Service Co (台灣總合股務) as the integrator. The private shareholders own 28 percent of the firm.
FSC calls for faster review
The Financial Supervisory Commission (FSC) has called on its Vietnamese counterparts to expedite its review of an application from eight Taiwanese banks and three insurance firms to set up branches there and received a good preliminary response, Susan Chang (張秀蓮), vice chairperson of the commission, said yesterday.
A total of another eight Taiwanese lenders have established footings in Vietnam, including Chinfon bank (慶豐銀行) and Chinatrust Commercial Bank (中國信託商銀).
The commission, which sent a 28-member delegation on a five-day visit to Vietnamese financial regulators, also requested the Vietnamese securities authority to lift foreign investment limit currently capped at 30 percent and abolish the rule that bans overseas investors from buying and selling same stock in one day.
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