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To: Norrin Radd who wrote (2727)	3/9/1998 9:14:00 AM
From: DJBEINO	Respond to of 9582

U.S., Japan Firms Raise OEM Orders to Taiwan Wafer Makers March 9, 1998 (TAIPEI) -- Although Taiwan OEM wafer companies experienced a slump in the first quarter of 1997, they began to see a turnaround in the second quarter, buoyed by a rise in OEM orders from the United States and Japan. Sales in the second half of the year were nearly 200 percent higher than in the first. Industry sources said 1998 is likely to see a similar situation, and that the buoyancy in the second half of 1998 will even surpass that of the same period in 1997. Over the past few years, U.S. companies have been gradually reducing the proportion of wafers manufactured in-house and contracting out more wafer production to OEM manufacturers. More recently, Japanese and Korean companies have been following in their steps, with the result that orders to local wafer makers are increasing. An executive from United Microelectronics Corp. said his company has been in contact with several Japanese giants regarding cooperation possibilities. An executive from Taiwan Semiconductor Manufacturing Co., Ltd. said that with the exception of Hitachi Ltd., all Japanese firms in the industry have begun contracting out their wafer manufacturing. Toshiba Corp., for instance, has placed OEM orders with Taiwan's Winbond Electronics Corp. and Charter Electronics Industrial Pte., Ltd. of Singapore. Matsushita Electric Industrial Co., Ltd. subcontracted production to Taiwan's Macronix International Co., Ltd., NEC Corp. to a Chinese producer and Fujitsu Ltd. to TSMC. The TSMC executive added that in 1997, his company posted operating revenues and profits of NT$43.9 billion (US$1.36 billion) and NT$17.9 billion, respectively, translating into a profit rate of 40.9 percent. The profit rate for the fourth quarter alone was even higher, 44.1 percent. He said he would not speculate on whether this year's performance will be better than last year's, but added that the market for OEM wafer manufacturing already shows signs of heating up. nikkeibp.asiabiztech.com

To: Norrin Radd who wrote (2727)	3/9/1998 9:23:00 AM
From: DJBEINO	Read Replies (2) \| Respond to of 9582

Five Conglomerates' Overseas Subsidiaries Owe US$37.2 Billion According to figures released by the Ministry of Finance and Economy Monday, the top five conglomerates' overseas subsidiaries owed US$37.2 billion to foreign banks as of the end of last year, which amounted to 70.1% of the total overseas subsidiary debt of US$53.2 billion. Among the five, Samsung is the most exposed at US$10.4 billion (19.6% of the total), followed by Daewoo US$9.6 billion (18.2%); Hyundai, US$8.6 billion (16.2%); LG, US$4.6 billion (8.8%) and Sunkyong with US$3.8 billion (7.3%). A total of US$95.5 billion in debts were amassed by the end of 1997, with US$42.3 billion from domestic financial institutions being added to external liabilities. Currently US$60 billion has to be repaid this year out of which US$32.3 billion will go to foreign banks.