Taiwan parts makers scale back
Published:
5 October 2001 y., Friday
Taiwan computer component maker Hon Hai Precision Industries scrapped on Friday a plan to raise $460 million overseas, becoming the latest tech company to tread more warily following attacks on the United States.
Hon Hai said in a statement to the Taiwan Stock Exchange that the withdrawal of a planned issue of global depositary receipts (GDRs) was due to capital market conditions and because the fund-raising was not necessary at the current time.
Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker, said last week it would not use all its $2.2 billion capital expenditure budgeted for this year and said spending next year would be less than 2001 as market conditions were sluggish.
Analysts said limited visibility in the struggling electronics industry after the deadly attacks on New York and Washington, D.C., made tech companies rethink strategies and move conservatively.
Given such a bleak scenario, analysts said other electronics companies could find it tough to raise funds overseas as uncertainty hangs over global equity markets.
Šaltinis:
news.cnet.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »