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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan loosens payment conditions to help DRAM makers Reuters - 2 hours 43 minutes ago TAIPEI, Nov 10 - Taiwan announced measures to loosen loan and payment conditions on Monday to help the island's loss-making DRAM memory chip makers weather the industry's worst downturn in its history. The Ministry of Economic Affairs will allow companies whose operations are normal to extend the deadline on bank loan payments due in March next year by six months, the ministry said in a statement. Companies can also seek a grace period of up to six months for check payments as long as they apply to the ministry for the request 10 days before their check payments are due, it said. " total loans from banks are T$420 billion , but I can't talk about details because listed companies are involved," Shih Yen-shiang, a deputy economics minister, told a parliamentary committee meeting. Three major DRAM makers in Taiwan -- Powerchip <5346.TWO>, Nanya Technology <2408.TW> and ProMOS <5387.TWO> -- are struggling with falling chip prices caused by oversupply. They have been in the red in the past several quarters. Analysts say the companies, which make dynamic random access memory chips mainly for personal computers, are also facing liquidity problems and some of them are seeking ways to raise funds to repay bank loans and bonds. On Monday, Powerchip Semiconductor shares rose 6.7 percent to their daily limit, against the main TAIEX's <.TWII> 0.04 percent fall. Nanya Technology shares jumped 5.6 percent and ProMOS Technologies shares gained 4.1 percent. Besides the short-term measures, Chen Tain-jy, chairman of Taiwan's Council of Economic Planning and Development, said at the same meeting that the state planner would also be looking at the industry's development in the longer term. When asked by lawmakers if the National Development Fund would invest in DRAM firms, Chen said: "We will insist that our targets should be competitive in the future and we will only invest in companies that will have a key market share in the world." Chen declined to identify any potential firms. Late last month, Taiwan raised the size of its National Development Fund, convened by Chen, five-fold to T$1 trillion as it looked for new resources to help firms facing potential problems due to the global credit squeeze. (Reporting by Baker Li and Argin Chang, Editing by Jacqueline Wong) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Dish Network 3rd-quarter profit slides 54 percentAP - 1 hour 2 minutes ago Tax wrangles threaten Cameroon mine - SundanceReuters - 1 hour 2 minutes ago Chile peso up as China plan boosts global boursesReuters - 1 hour 6 minutes ago Latvian inflation falls as economy suffersAP - 1 hour 8 minutes ago France wants emerging market nations to join G-7AP - 1 hour 9 minutes ago Most Popular – Business Viewed G20 pledges 'all necessary steps' to restore stability In Obama's victory, Americans see legacy of Lincoln Documents expose Prince William RAF training row: report AIDS vaccines: New hope for problem-plagued path Porsche hits record results on the back of VW shares View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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