BenQ ratings not immediately affected by govt probe - Taiwan Ratings |
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Published
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Thu, 15 Mar 2007 04:02
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TAIPEI (XFN-ASIA) - Taiwan Ratings Corp said its ratings on BenQ Corp (twBB+/Negative/twB) are not immediately affected by an ongoing investigation by Taiwan's prosecutors into alleged insider trading by some company officials.Prosecutors searched the company's offices on March 13 for evidence related to alleged insider trading.The allegations involve some employees making profits from trading of BenQ's shares in March 2006, just before the company announced a loss of 6 bln twd for the fourth quarter of 2005, noted Taiwan Ratings, a unit of Standard & Poor's.Benq's fourth-quarter 2005 loss followed its acquisition of Siemens AG's loss-making handset division in June 2005.Taiwan Ratings said the insider trading probe will not have any immediate impact on Benq's business operations, noting that the company's fundamentals remain unchanged.Nevertheless, the incident raises concerns over BenQ's internal controls, it said.Taiwan Ratings said it will monitor the progress of the investigations, as well as the company's operating performance.At 10.30 am, BenQ was steady at 13.05 twd on volume of 70.86 mln shares.(1 usd = 33.00 twd)adela.lin@afxasia.com
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CARNIVAL
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1347.00 |
+51.00 (
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