The BenQ Corporation name will move to the new subsidiary; the parent - which will concentrate on contract manufacturing - will be renamed Jia Da Corporation.

Jia Da will own 100 percent of BenQ Corporation following the restructure, which will be put to shareholders on June 15.

"From a local point of view this recent announcement is a very welcomed move," said Philip Newton, managing director and vice president Asia Pacific.

"Our commitment to the Australian market has never been stronger and the new structural changes will allow us to expand upon all of our critical activities. We are totally dedicated to growing our LCD monitor, projector and notebooks. During the next six to twelve months we plan to strengthen our product portfolio by adding a strong range of new LCD TVs and digital cameras."

BenQ's 2005 acquisition of Siemens' mobile phone business did not go well, and the German subsidiary went into receivership last September and closed its local factory in January. BenQ-Siemens operations continue elsewhere.

BenQ was formed in 2001 when Acer decided to spin-off its peripherals business and concentrate on PC manufacturing.