Bloomberg News

Taiwan Stocks: Chimei Innolux Corp., Hon Hai Precision Industry

February 20, 2012

Feb. 20 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei.

The benchmark Taiex index rose 0.8 percent to 7,954.82.

Chimei Innolux Corp. (3481 TT) increased 2.6 percent to NT$15.95. The flat-panel maker and credit banks agreed on a debt repayment plan, the Bank of Taiwan said in a statement on its website.

Hon Hai Precision Industry Co. (2317 TT), a unit of Foxconn Technology Group, dropped 1.8 percent to NT$99.70. The Fair Labor Association, a watchdog monitoring working conditions at makers of Apple Inc. products, has uncovered “tons of issues” that need to be addressed at a Foxconn Technology Group plant in Shenzhen, China, FLA Chief Executive Officer Auret van Heerden said.

The world’s biggest contract maker of electronics also increased pay of its workers in China by 16 percent to 25 percent starting Feb. 1, the company said in an e-mailed statement on Feb. 17.

--Editor: Darren Boey

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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