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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan's ProMOS sells equipment to Powertech Reuters - Tuesday, January 20 TAIPEI, Jan 19 - Taiwan's DRAM maker ProMOS Technologies <5387.TWO> has sold chip-making equipment worth T$798 million as the struggling company aims to raise money amid the worst ever sector downturn, it said on Monday. ProMOS' latest equipment sale to its chip packaging partner Powertech Technology <6239.TW> comes days after it raised T$580 million by selling equipment to Taiwan Semiconductor Manufacturing Co Ltd <2330.TW> <TSM.N>, the world's top contract chip maker. ProMOS, in which Japan's top memory chip maker Elpida Memory <6665.T> owns a stake, said in a brief statement the sale would incur a disposal loss of T$174.6 million. The market has been worried that the loss-making company would be unable to raise enough cash to pay back $330 million in convertible bonds after they mature in mid-February. The global DRAM industry is suffering from its worst ever downturn since last year, as prices plunged and most major players, such as South Korea's Hynix <000660.KS> and Elpida, posted huge losses. Taiwan's economics ministry said earlier in January it had met with "relevant parties" to review the organisation of the island's DRAM industry, but that no concrete conclusions had yet been made. The announcement came after Taiwan's stock market closed. ProMOS' shares fell by its daily 7 percent limit, underperforming the broad market's <.TWII> 0.02 percent gain, while Powertech's stock was up 1.5 percent. (Reporting by Lee Chyen Yee and Faith Hung; Editing by Jon Loades-Carter) 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 US-BUSINESS SummaryReuters - 25 minutes ago Oil falls towards $34 on gas deal and Gaza ceasefireReuters - 25 minutes ago T-Mobile to offer G1 in more European countriesReuters - 26 minutes ago EU: recession will be deep and long-lastingAP - 30 minutes ago Britain announces 2nd banking rescue planAP - 36 minutes ago Most Popular – Business Viewed 'Overwhelming emotion' at star-studded inaugural concert Zimbabwe unveils $100 trillion banknote 'Dogs don't wear condoms,' says Baywatch star Anderson Faulty gene condemns millions in India to heart disease: study Hamas announces one-week truce after Israel ceasefire View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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