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UMC fails to list 15% stake in HeJian

Posted: 07 Sep 2006 ?? ?Print Version ?Bookmark and Share

Keywords:United Microelectronics? UMC? HeJian Technology? foundry?

Semiconductor foundry United Microelectronics Corp. (UMC) reportedly failed in acquiring ownership of its 15 percent stake at HeJian Technology (Suzhou) Co. Ltd despite seeking the approval of Taiwan officials in June.

Three months ago, UMC decided to seek permission from the Taiwan government to list ownership of its HeJian shares. The Taiwan-based chipmaker claims that the 15 percent share was HeJian's payment for technology aid. However, the Taiwan government claims that the shares are illegal investments made by UMC. UMC was also reportedly fined by the government over the HeJian case, with UMC's former Chairman Robert Tsao and former Vice Chairman John Hsuan charged with alleged breach of trust against UMC investors.

In August, UMC reported a Q2 revenue of about $780 million, representing a 5.6 percent sequential increase from $740 million in Q1, and a 32.4 percent year-on-year increase from about $590 million in the same quarter the previous year. The Taiwan foundry's net income was around $185 million in Q2, compared with net income of about $375 million the previous quarter.

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