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Around noon, ProMOS shares had dropped 1.2 percent against a 3 percent rise on the broader electronics sub-index and a 2.3 percent gain on the main TAIEX share index.
"On the demand side, visibility is still not clear," said Nigel Lee, a fund manager at Taiwan's National Investment Trust.
Facing a severe cash crunch, ProMOS and Powerchip, Taiwan's top DRAM maker, have asked for assistance from Taiwan's government. Powerchip shares lost 1.8 percent on Monday.
The Economic Daily reported on Monday that ProMOS, which trails Powerchip and Nanya Tech in Taiwan, had received a six-month extension from its bank creditors for repayment of a T$50 billion ($1.5 billion) loan.
But ProMOS said it had not yet received official notification of the extension.
Taiwan's economics ministry has asked Powerchip to resubmit plans for a company turnaround as the government tries to engineer a rescue for the struggling sector.
Powerchip, along with other major Taiwanese DRAM makers, recently submitted plans to turn around its operations, which have posted massive losses in recent quarters amid the sector's worst ever downturn.
Market talk about consolidation has swirled through the global DRAM industry in recent months, as many say streamlining is critical to address the large oversupply of DRAM chips used mainly in personal computers.
(US$1=T$33)
(Reporting by Baker Li, Editing by Jonathan Hopfner) Keywords: PROMOS/HOTSTOCKS
(baker.li@thomsonreuters.com; +886 2 2508-0815; Reuters messaging: baker.li.reuters.com@reuters.net)
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