Shares close higher
Shares finished up 0.52 percent yesterday on bargain hunting amid expectations that the government will introduce measures to lift the sagging market, dealers said.
The weighted index rose 33.24 points to 6,458.01 on turnover of NT$93.49 billion (US$2.93 billion).
The local currency traded at NT$31.863 against its US counterpart at the close of Taipei trading, little changed from NT$31.872 on Tuesday, Taipei Forex Inc said.
TiVo makes Taiwan inroads
TiVo, a popular digital video recording service in the US, may soon reach 100,000 household subscribers in Taiwan after making its debut here in late 2005, a company executive said yesterday.
“We’ve only begun to etch our brand in the minds of local consumers since early this year as TiVo, as popular as it is in the US, is still a new concept here,” Wen Shen (沈堡雲), an assistant manager at TGC Inc (替您錄科技), said by telephone.
TGC is a joint venture set up in 2004, with US-based TiVo Inc as the major shareholder.
Shen said that a 30-day free-of-charge trial promotion, which will last till Sept. 15, has attracted thousands of new subscribers since early July, but the company penetration in Taiwan is not as widespread as it is in the US.
Farglory eyes Singapore plot
Farglory Group (遠雄集團) chairman Chao Teng-hsiung (趙藤雄) yesterday expressed interest in acquiring several plots of land in Singapore to build a hotel.
During Forbes magazine’s global CEO conference, he said that he plans to spend millions of US dollars to buy a plot of land for his hotel project in the city.
Despite concerns that now is not a good time to enter the property market in Singapore, Chao said it is an international financial hub with room for the development of hotel operators.
Farglory Group has entered talks with landowners in the city’s downtown area and hopes to close the deal by the end of this year or early next year, he said.
Samsung unveils handset
Samsung Electronics Co yesterday unveiled its new Omnia i908 handset in Taiwan, marking the company’s foray into Taiwan’s high-end cellphone market.
The Korean outfit is partnering with Chunghwa Telecom Co (中華電信) for the Sept. 29 release and the device is priced at NT$24,900 (US$780.64).
The company plans to take over 30 percent of the nation’s high-end market in the fourth quarter, describing its target customers as business professionals, “road warriors” and multi-tasking individuals.
The i908 looks similar to Apple Inc’s iPhone, with the same touchscreen and minimalist design. Before iPhone’s official rollout in Taiwan, Samsung is taking the first-to-market approach. The new handset comes with all the latest bells and whistles, and one distinct feature is its business card scanner.
Kolin shares suspended
Shares of Kolin Inc (歌林) will be suspended from trading on the Taiwan Stock Exchange effective today, the company said in a stock exchange filing yesterday.
The beleaguered home electronics maker has seen its stocks plummet to historic lows after recent news that its US counter-party Syntax-Brillian Corp (SBC) declared bankruptcy in July.
Since then, Kolin has defaulted on multiple scheduled debt payments to its creditors. Kolin has been looking for buyers for its shopping center located in Sinjhuang (新莊) since last month to inject liquidity into the firm. No developments have been reported on potential sales.
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