Foreign news in brief

  • Business
  • Thursday, 04 Sep 2003


TOKYO: Semiconductor giant Intel Corp has agreed to invest an extra US$23mil in Elpida Memory Inc, lifting its total investment in Japan’s last big maker of standard computer memory chips to US$123mil. 

The additional investment is aimed at helping Elpida accelerate production of DDR2 SDRAM (double-data rate synchronous dynamic random access memory) chips for use with a new Intel microprocessor targeted at high-performance personal computers and servers. 

“This investment is part of Intel’s strategy to support the development and supply of high performance DRAM products,” said Shiong Tan, managing director of Intel Capital Japan. –Reuters 



BEIJING: China Minsheng Banking Corp Ltd, the country’s only privately funded bank, plans to go public in Hong Kong in the first half 2004 to raise US$1bil to finance its expansion, the 21st Century Business Herald reported, citing sources close to the bank. 

The report said the underwriters for the overseas listing would be Goldman Sachs, Citigroup Global Markets and Deutsche Bank, and the three may become foreign investors in Minsheng Bank. Officials at the bank declined to comment. – AFX 



SINGAPORE: StarHub Pte Ltd, the city-state's second largest telecoms company, plans to borrow S$600mil to partly cover the cost of its third-generation (3G) network over the next three years. 

The company, part of the state-owned Singapore Technologies group, said it had decided to cut the borrowing from an originally planned S$1bil syndicated loan because the cost of rolling out the new technology had fallen substantially in the past year. – Reuters  

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