Two of seven state-owned enterprises under the Ministry of Economic Affairs reported losses in the first half of this year, with deficits totalling NT$30.64 billion (US$935.6 million), according to the ministry's State-owned Enterprise Commission.
The commission's tally showed that both Chinese Petroleum Corp (CPC, 中油) and Taiwan Power Co (Taipower, 台電) reported a total of NT$33.21 billion in losses during the first six months of this year, although the five other state companies all made profits.
With rising fuel costs, Taipower saw a deficit of NT$467 million last month and a total of NT$13.56 billion in losses for the first six months of this year, according to the commission.
CPC posted profits of NT$405 million last month derived from its cost control measures and overseas investments, but the company remained NT$19.65 billion in the red for the first half of the year due to skyrocketing oil prices, the company said.
The state-run oil refiner has raised gasoline prices three times this year: once in February by NT$1 per liter, a second time by NT$2 per liter in April, and, most recently, earlier this month by NT$1 per liter. But the company said it still faces an estimated loss of NT$50 billion for the full year and may have to raise prices again to cover its import costs.
According to the commission, the five state-run companies that made profits are Taiwan Sugar Corp (台糖), which posted a pre-tax surplus of NT$1.296 billion; Taiwan Water Corp (台灣自來水), which reported a pre-tax surplus of NT$245 million; China Shipbuilding Corp (中船), which posted a pre-tax surplus of NT$483 million; Aerospace Industrial Development Corp (漢翔), which posted a pre-tax surplus of NT$79 million; and Tang Eng Iron Works Co (唐榮), which posted a pre-tax surplus of NT$465 million.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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