Tuesday, December 23rd 2008
Digitimes are reporting that Taiwan's Ministry of Economic Affairs (MOEA) may have drafted about NT$200 billion (US$6.50 billion) to bailout the DRAM industry there, although there has not yet been any official confirmation, it has certainly stirred up a commotion, $6.5 Billion USD is a lot of money wasted should the bailout go ahead and fail.
Chii-Ming Yiin, Taiwan's minister of economic affairs, did not deny the speculated bailout amount. According to Yiin, any bailout measures for local DRAM makers are subject to risks, costs and benefits on their impact on economic growth and they will be carefully evaluated. Yiin believed that the bailout applicants were not just looking for cash injections, but mainly requested that the government negotiate with local banks and help sort out their debt problems and schedules.Source: Digitimes