A week in China tech
Internet
- Sina Corp. named Wang Yan chief executive and director, succeeding Daniel Mao, who is stepping down. Mr. Yan founded Sina's predecessor, the Internet division of Beijing Stone Rich Sight in 1996 and over the years has helped transform the company from a software firm into an Internet portal in China.
- Chinese portals have seen marked gains in their stocks in the past two months. Most notably, Sina, Sohu and Netease shares have all jumped by at least 100% in the period. Besides having the tailwind of an Internet renaissance in the United States, the trio is being seen as a beneficiary of the SARS crisis as panicked consumers turn to online shopping. A genuine upturn in the broader technology sector, the arrival of wireless laptops, Intel's new Centrino chip, the growing popularity of Wi-Fi connections and the rebuilding of run-down inventories are assumed to have fueled the Internet comeback.
Mobile / Wireless
- China Mobile is seeking to turn the tables on fixed-line carrier China Telecom by launching a service allowing users to divert calls from fixed lines to their mobile phone. The move follows China Telecom's December launch of a "resting point" service allowing users to bypass mobile operators' networks and deliver calls to fixed-line phones, which prompted an outcry from mobile operators fearful of lost traffic. China Mobile expects the Chinese Ministry of Information Industry to approve its new service on the grounds of maintaining a level playing field.
A week in Taiwan tech
Hardware
- Silicon Application Corp., a Taiwan-based semiconductor distribution company, will partner with Oki Electric Industry Co., Ltd. to establish OSAC Solutions Ltd. SAC's area of expertise is providing a wide range of semiconductor products and system solutions; Oki offers a significant presence in the Japanese market, strong sales record, and an abundance of system large-scale integrated products and advanced technologies.
A week in Singapore / Malaysia / Philippines tech
Telecommunications
- Philippine Long Distance Telephone Co. posted sharply higher first-quarter earnings on the strong contribution of its mobile phone unit, Smart Communications Inc. The company said its net profit in the January-to-March period rose 58% from the year-earlier period to Ps2.5 billion Philippine ($47.7 million), beating estimates by both the market and the company. PLDT's first-quarter consolidated revenue grew 22% on year to Ps22.7 billion ($435.4 million). Expenses for the same period rose 17% on year to Ps15.7 billion ($301.1 million). Smart continued to be the main driver of PLDT's earnings, registering a 51% year-on-year rise in first-quarter revenue to Ps10.7 billion ($205.2 million), bringing the mobile phone company's net profit for the period to Ps2.8 billion pesos ($53.7 million), up 87% year-on-year.
A week in Hong Kong tech
Telecommunications
- PCCW is to face a stock exchange inquiry over conflicting statements it made on its aborted takeover bid for Britain's Cable and Wireless. Hong Kong Exchanges and Clearing, which runs the stock exchange, said that after a three-month investigation it had concluded that PCCW had a case to answer. The investigation followed a series of apparently contradictory statements made by PCCW in February in response to a report that it was engaged in talks to buy Cable and Wireless.
- PCCW's plans to be the first in the region to roll out Bluetooth hot spots have been put on hold due to SARS. The firm had planned to launch the new service early this month at the Pacific Coffee chain of outlets, but decided to postpone it for a month until customers returned to the cafes. Bluetooth hot spots are similar to those for wireless local area networks (WLAN) or 802.11b, popularly known as Wi-Fi. Customers within a hot spot who have Bluetooth-enabled personal digital assistants (PDAs) can access content from PCCW's partner Web sites.
- Hutchison Whampoa is seeking to raise $1 billion, tapping the bond market for the third time this year. Hutchison appointed HSBC to sell its 10-year bonds, which, if successful, would raise the total debt market funds raised this year by Hutchison to $3.5 billion.
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