TPV Technology shares fall 11%

Shares in TPV Technology Ltd tumbled 11.17 percent yesterday after the monitor and flat screen maker warned of "significant" losses in 2008.

The company said in a regulatory filing that one of its subsidiaries in Brazil, AOC do Brasil Monitores Ltda, suffered substantial forex losses due to the depreciation of the Brazilian currency against the US dollar. It did not provide any further details on the losses.

The Taipei-based company is already reeling from its third-quarter losses, when it posted a 43.8 percent decline in net profit from a year earlier period to $31.4 million. The fall was attributed to foreign exchange losses of $23.4 million at its operations in Brazil.