Wednesday, November 26, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
HP Reports Fiscal 2014 Full-Year and Fourth Quarter Results
Hitachi Wearable Device Monitors Brain Functions
Hitachi Technology Stores Digital Data In 100 Recording Layers, Data Can be Stored For 300 million Years
Sony To Provide Refunds To Users Over Misleading Ads For PlayStation Vita
Blu-ray Movie Discs Used As Templates For Improving Solar Cell Performance
PC Outlook Remains Cautious
Trade Your iPhone for BlackBerry Passport And Get $550
GreatFire.org Unblocks BBC Chinese
Active Discussions
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
 Home > News > PC Parts > Abit cu...
Last 7 Days News : SU MO TU WE TH FR SA All News

Saturday, December 31, 2005
Abit cuts debts by selling properties, but trouble remains


Accorind to DigiTimes, Abit has several financial problems...

"...At a provisional meeting on December 23, shareholders of financially troubled Abit Computer approved the company?s plan to sell its office building in Taipei to Deutsche Bank for NT$1.7 billion. The company will use the entire amount to retire part of its bank loans and reduce its total debts to NT$1.9-2.0 billion (US$57-60 million), said company chairman Remond Lu.

However, local investors were also caught off guard by the approval of an Abit proposal to raise the floor amount of its investments in other companies to 250% of its net worth from the current 150%.

Abit?s decision to increase it outward investment is unreasonable as its net worth is declining and it is still in debt, commented Chan Tsai-hung, president of the Taiwan government-back Securities and Futures Investors Protection Center, as quoted by the Chinese-language Commercial Times.

Based on an Abit revised financial report available on October 31, Abit?s net worth already declined to NT$1.7 billion (US$51 million) at the end of October this year, down from NT$10.8 billion (US$325 million) in November 2004, the paper said.

Chan also said that Abit?s income statement for the first 11 months of this year were also questionable, as the company?s Taiwan revenues now totaled NT$200-300 million (NT$6-9 million) a month, in contrast to NT$1-2 billion (US$30-60 million) it recorded prior to November 2004, when the Taiwan Stock Exchange (TSE) began to probe into the company?s financial situations.

Taiwan?s securities regulatory agency has requested Abit to resubmit its financial statements for all of 2003, 2004 and part of 2005 to the TSE by February 2006. Abit will be delisted from the TSE if it fails to comply with the request. Trading of Abit shares has been suspended since mid-September this year..."


Previous
Next
1394 Trade Association to Exhibit with New HDTV A-V Network Alliance at ICES 2006        All News        Opera Software chooses Google as search partner
Rambus, AMD in Technology Licensing Deal     PC Parts News      Mushkin XP4000 Redline review

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
abit Announces I-G31, IP35P Motherboards
abit Introduces First AMD Phenom Ready Motherboard, the AX78
Intel Core 2 Extreme Overclocked at 5 GHz
Fatal1ty FP-IN9 SLI Motherboard Launched
abit Launches IN9 32X-MAX
ABIT - The Reclaim Computex 2006
ABIT's New NForce 570 SLI Motherboard for Socket AM2
ABIT Purchase Finalized
ABIT Announces Merger with USI
ABIT Releases the AN8 32X Motherboard
ABIT Introduces the AL8
ABIT Introduces AudioMAX 7.1 HD

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .