Times Staff and Wire Reports

Compaq Sets Up Taiwan Subsidiary: The Houston-based computer firm said it formed an independent subsidiary in the Far East nation in a bid to boost its growing business in the Asia-Pacific rim. The company, one of the world's largest personal computer makers, said in a statement its new subsidiary, Compaq Computer Taiwan Ltd., will aggressively pursue business opportunities in the growing Taiwanese market. The government of Taiwan said in October that it planned to invest $10 billion in the next 10 years to set up an island-wide fiber-optic information network. Compaq Computer Corp. is already the best-selling foreign personal computer brand in Taiwan, a company spokeswoman said, noting sales grew 84% last year.

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