High Tech profit up 34 percent
High Tech Computer Corp (宏達電), the world's largest maker of handsets using Microsoft Corp's Windows operating systems, reported a 34 percent increase in fourth-quarter profit on sales of more advanced models.
Net income climbed to NT$10 billion (US$308 million) from the NT$7.45 billion a year earlier, the Taoyuan-based company said. The company was expected to post profits of NT$8.69 billion, according to the average estimate of 14 analysts compiled by Bloomberg.
Fourth-quarter sales increased 33 percent from a year earlier to a record NT$39 billion, the company said in a statement on Sunday. That exceeded an October forecast for 20 percent growth.
Board fails to choose new chief
The battle to elect a new chairman at Asia Pacific Telecom Group (亞太電信) was delayed yesterday when government-appointed shareholders failed to reach any conclusions with private shareholders at a temporary board meeting in the morning.
Another board meeting will be scheduled in seven days, the company said yesterday.
Taiwan Railway Administration director general Frank Fan (范植谷), a government-appointed shareholder, said yesterday that the temporary board meeting initiated by private shareholders was ineffective because there were enough attendants.
He said the meeting was illegal as it was convened by two board directors, not the chairman of the company.
"Besides, board members should be notified at least seven days before a meeting is convened, which they failed to do as well."
Fan added that the administration originally planned to change the ownership registration, but the official seal was taken away by a controller.
"We will not give in, and will take legal action if necessary," Fan said.
New Zealand trade deficit falls
New Zealand's trade deficit shrank sharply in November compared with a year earlier because of rising exports of dairy products and crude oil, official figures showed yesterday.
The deficit for the month was US$646 million, down from US$820 million in the same month in 2006, Statistics New Zealand said.
But the deficit for the month was higher than economists' forecasts, which were around US$437 million.
In the year to November, the trade deficit was US$5.65 billion, down from US$5.83 billion in the year to October and US$6.05 billion in the year to November 2006.
The value of milk powder, butter and cheese exports reached a monthly record of US$915 million in November, and crude oil exports of US$185 million were also up sharply following the opening of a new oil field in the latter part of last year.
Total exports for November were US$3.3 billion, the highest ever for a November, but imports were also at their highest for the month at US$3.95 billion, a rise of 9.4 percent from a year earlier.
All Nippon opens new route
All Nippon Airways said yesterday it will start daily round-trip flights between Tokyo's Haneda Airport and Hong Kong, the latest destination to be served from the Japanese's capital's central hub. Most international flights to the Tokyo area fly into Narita airport in suburban Chiba prefecture, a journey of more than an hour from the central city.
All Nippon Airways, Japan's second-largest carrier, plans for daily flights between Haneda and Hong Kong starting on April 1, a company spokesman said.
NT dollar drops slightly
The New Taiwan dollar yesterday weakened by NT$0.027 to close at NT$32.466 on turnover of US$800 million.
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