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Technology Stocks : Nam Tai Elec. (NTAI) -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (1497)	9/19/1998 9:39:00 AM
From: Ron Bower	Read Replies (1) \| Respond to of 1696

News item: Albatronics beats the odds STORY: ALBATRONICS (Far East) yesterday said the Asian financial crisis has done little harm to its business even as its two major markets, Hong Kong and Japan, are suffering from a recession. Chairman Wakaki Kaizo said the company's Japanese customers remained in a strong financial position. ''They are quite excellent companies,'' Mr Kaizo said. Managing director Fukumori Nakahara said their business with Japanese companies had been built on a long-term relationship. However, both officers declined to divulge details on matters relating to the company's profit performance this year. ''We work hard to complete the transactions,'' Mr Nakahara said. On Monday, the electronics component and CD products manufacturer announced it had agreed to issue 200 million new shares, or 50 per cent of its enlarged capital, to Nam Tai Electronics to raise net proceeds of $70 million to repay trade creditors. ''We will also co-operate with (Nam Tai) on technologies,'' Mr Kaizo said. He also said the group would adopt various measures to reduce overhead costs to improve profit margin. Mr Nakahara expressed confidence that the shift of operations from Hong Kong to the mainland would bring significant savings in costs.