The Taiwan Stock Exchange (TSE) is expected to suspend ProMOS Technologies from trading on the exchange for failure to file its financial results for the first half of 2011.

In addition, the stocks of fellow DRAM companies Nanya Technology and Powerchip Technology may be downgraded by the TSE to requiring full-cash delivery soon as their first-half net value per share failed to meet the required NT$5 (US$0.17) mark.

The suspension of ProMOS's share trading is likely to take place as early as September 5, according to market sources.

In response, ProMOS said that part of the results audited by accountants are still being evaluated and therefore it has to postpone submitting the complete half-year financial report to the TSE.

The sources speculate that ProMOS's debt ratio for June reached 99.9%, which dragged down the net value of its shares to the negative territory. But ProMOS, estimating that its net value per share remained positive as of the end of June, has requested a revision.

By: DocMemory
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