Hynix Rescue The South Korean Government Promoted, Taiwan Plant Envy
8, let go that for Hynix (Hynix) need cash flow, will the holding group controlling the creditor banks will soon reach a consensus, to be injected, the maximum amount will reach 1 trillion won (about 685 million U.S. dollars). According to Bloomberg (Bloomberg) latest report, Li Yun-ho said that if the controlling shareholder of Hynix do not want to provide relief funds, the South Korean government may consider Jinyuan Hai Lux.
Also face funding problems Hynix tight strategic alliance partner ProMOS chairman Chen Min-liang said that the Government intervene in negotiations with banks, and even follow the current South Korean government deal with Hynix financial crisis, forcing banks to debt for half-way investment in ProMOS shares approach is very welcome (Morethanwelcome), Taiwan, Hynix DRAM factory quite envious of access to the South Korean government’s assistance, he stressed that the Taiwan government for the DRAM industry, crisis management, to grasp the “real time.”
Chen Min-liang stressed, except hope that the Government can lend a helping hand, give financial support, its also looking for some new financial partners, hopes to raise funds tide over their difficulties! Taiwan DRAM industry on long-term development, the future DRAM technology not only be able to do independently, but also in product, process, testing, applications for planning all-round, can Taiwan DRAM industry for itself.
In fact, this wave of depression swept across the world, dampened consumer demand for electronics, all the major memory manufacturers lose money into hard cash shortages, not only Taiwan DRAM industry recently called on the Government for relief frequency , the German Government is also considering the use of state funds to rescue Qimonda (Qimonda), The Korean government had no interest for Jinyuan Hai Lux, only willing to include the automotive, petrochemical industries to take the necessary measures of assistance, contingent on the 8th South Korean government attitude for Jinyuan Hai Lux big reversal.
NANDFlash and DRAM prices plummeted as the global economic downturn led to market demand, frozen, Hynix had in early December to conduct consultations with the controlling shareholder of the proposed amount of 5,000 million in relief to 1 trillion won (about 343 million ~ 685 million U.S. dollars). Industry estimates, the current Hynix cash and cash equivalents, from 1.23 trillion won had reduced to 8,000 billion won in violence, as Hynix debt due to be settled, in 2009 it must invest in new process equipment, cash on hand is extremely tight.
Although Hynix said there is still enough cash in no hurry to immediately request the storm and hope that companies and shareholders can take the time to discuss the matter. However, in view of increasing bad debts, economic downturn, banks are busy keeping the water level of funds, the purchase of majority stake in Hynix and more distance, now seems to provide loans to increase short-term liquidity, indeed more likely, but in the rush Hynix the occasion to sell stake in the bank but will not buy. According to anonymous shareholders
said Hynix pleaded to the shareholders inject further relief. Hynix’s main creditor KoreaExchangeBank (KEB) said it is evaluating whether to grant financial aid Hynix. KEB and other financial institutions now total 36% stake held by Hynix, the main shareholder of the original group of its creditor banks, from 2000 to 2001, the occasion of technology industry bubble aid Hynix have been shot relief to debt stock exchange conditions, claims Consortium to take over after the debt restructuring, and to sell off part of Hynix’s business, making it a simple storage vendors.
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