Creative Posts Record Surge on China Tablet PC: Singapore Mover
Creative Technology Ltd (CREAF)., the maker of music players that compete with Apple Inc.’s iPods, surged the most since it began trading in Singapore in 1994 after announcing a tablet computer platform aimed at the China market.
The stock surged as much as 86 percent to S$4.50, the biggest gain since it began trading in the city-state in June 1994. Creative began trading on the Nasdaq exchange in the U.S. in August 1992. The shares were 65 percent higher at S$4 as of 3:40 p.m. in Singapore, with 57 times more shares traded than the average daily volume over the past six months.
Creative unveiled a platform called HanZpad, a new media processor named ZMS-40 and a Chinese operating system, according to a statement after the market closed yesterday. The Singapore- based company said the tablet computer platform is focused on the Chinese market, where it wants to take advantage of the government’s aim to embrace “digital textbooks, digital classrooms and the digital school bags” in the education system.
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