Abit in Serious Trouble?
DigiTimes now reports that motherboard and graphics card vendor Abit will be selling its office in Taipei to help lower the company's significant debts. The once dominant motherboard vendor has seen sales take a dramatic drop over the course of the last year. With Abit's buildings being sold and speculation of outsourcing, it's more than a bit unfortunate to see this type of misfortune fall on such a keystone enthusiast vendor. Let's cross our fingers and hope the New Year will bring some positive luck to our friends at Abit.
At a provisional meeting on December 23, shareholders of financially troubled Abit Computer approved the company's plan to sell its office building in Taipei to Deutsche Bank for NT$1.7 billion. The company will use the entire amount to retire part of its bank loans and reduce its total debts to NT$1.9-2.0 billion (US$57-60 million), said company chairman Remond Lu.
