TAIPEI -(Dow Jones)- The board of Chunghwa Telecom Co. (NYSE:CHT) (CHT) approved on Friday the establishment of new wholly owned units based in Japan and Singapore, the company said in a statement.

The new units will apply for telecommunications service licenses and are scheduled to start operations in the third quarter of 2008, Taiwan's largest phone company by revenue said in the statement.

Chunghwa Telecom (NYSE:CHT) said each unit will have a paid-in capital of NT$200 million.

"The subsidiaries plan to provide direct business development, technical and sales support to local Japanese and Singaporean customers," Chunghwa Telecom (NYSE:CHT) said in the statement.

-By Alex Pevzner, Dow Jones Newswires; 8862-2502-2557; alex.pevzner@ dowjones.com

    (END) Dow Jones Newswires   06-27-08 0730   Copyright (c) 2008 Dow Jones & Company, Inc.