HOKU GETS FOREIGN-TRADE-ZONE STATUS

Hoku Scientific Inc.'s polysilicon manufacturing plant being built in Idaho has been granted foreign-trade-zone subzone status, exempting it from customs duty payments on foreign materials used in export production.

Honolulu-based Hoku said the ruling will allow it to import foreign raw materials duty-free, provided they are destined for export overseas as components of finished polysilicon.

Under its existing customer supply agreements, more than 80 percent of Hoku's total annual production capacity of polysilicon, and 100 percent of what has been presold to date, is destined for export to China,

Hoku's facility will be the only designated foreign trade subzone in Idaho.

SECURITIES DEALER MAY FACE SANCTIONS

A preliminary cease-and-desist order has been issued by Hawai'i Commissioner of Securities Tung Chan against Leigh K. Matsuyoshi, who does business as L.K. Matsuyoshi Inc. of Lihu'e, Kaua'i.

Tung's order alleges Matsuyoshi sold unregistered securities in the form of investment contracts to Hawai'i investors totaling more than $1 million. It also alleges Matsuyoshi used more than $400,000 of client money to pay her personal credit card debt.

Chan is alleging Matsuyoshi violated the state's securities registration and antifraud provisions. She is seeking a civil penalty of $500,000 in addition to a permanent injunction against future violations, rescission and restitution for investors.

PAPAYA PRODUCTION UP 10% FROM 2008

Hawai'i growers produced 1.6 million pounds of papayas in June, down 1 percent from May but up 10 percent from June 2008, according to a report from the local office of the National Agricultural Statistics Service.

Through the first six months of the year, papaya production totaled $14.7 million pounds, down 8 percent from the same period a year earlier.

Papaya growers received 44 cents a pound for fresh fruit in June, unchanged from May but up 5 cents a pound from June 2008. The average price for all of 2008 was 45.5 cents a pound, according to the statistics service.

Sunny weather and higher temperatures during June aided fruit development and ripening, the service said. Field preparation for new plantings was continuing, according to the agency.