Soyo To Quit Motherboard Business
Second-tier motherboard maker Soyo Computer plans to phase out production of its motherboards and instead focus on development and distribution of computer-related upstream components and plastic materials, according to company spokesperson Dave Liu.
Source: DigiTimesSoyo will also change its corporate name to Hao Teng Technology (translated directly from its Chinese name), Liu noted.
The shift of business came following last week’s reshuffle of the company’s board of directors and board of supervisors.
The company held a provisional shareholders meeting last week to elect new directors and supervisors, after it recently completed the issuance of 39 million new shares through a private placement. The shares, which have a book value of NT$10, were sold to an investment firm at a discount of 70.1% (NT$2.99).
Liu also stated that Soyo is now in talks with at least three China-based companies to establish partnerships that would explore business opportunities in China.
The company currently has registered capital of NT$1.367 billion and plans to cut its capital by 28% in the first quarter of 2005, Liu noted.
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