Solar maker has record profit
Gintech Energy Corp (昱晶), Taiwan’s biggest solar-cell maker by sales, in the first three quarters of this year posted an all-time high net profit of NT$3.33 billion (US$108 million), or NT$10.35 per share, the company said in an e-mailed statement.
The solar-cell maker lost NT$1.03 billion in the same period last year.
Revenues more than doubled to NT$20.27 billion in the first nine months from NT$9.97 billion a year ago.
Macronix to boost capacity
Local memory chipmaker Macronix International Co (旺宏) yesterday said in an exchange filing that its board had approved plans to spend NT$7 billion to double capacity of chips made from wafers measuring 12 inches in diameter to 20,000 wafers a month.
The expenditure is expected between January and July next year and will come from its company capital and bank financing, it said. This brings the company’s total investment in the new 12-inch plant up to NT$27.5 billion, it said.
Fubon subsidiary signs venture
Fubon Life Insurance Co (富邦人壽), a subsidiary of Fubon Financial Holding Co (富邦金控), signed a joint venture agreement with Nanjian Zijin Investment Co (紫金控股) to form a life insurance firm in China, the parent company said in a statement yesterday.
Fubon Financial, Taiwan’s second-largest private-run financial services provider, said the two sides signed a letter of intent yesterday, a move resulting from months of talks that started in December.
“Fubon Life Insurance and Zijin Investment will set up a task force to facilitate the birth of the insurance company,” the statement said. It did not supply information on the size of the joint venture or other details.
Coop Bank to ally with China
Taiwan Cooperative Bank (台灣合作金庫銀行) plans to form an alliance with the Bank of China Ltd (中國銀行), Tsai Chiu-Jung (葉秋榮), president of the Taiwanese lender, told reporters in Taipei yesterday.
Sohu beats analysts’ forecasts
Sohu.com Inc (搜狐), operator of China’s fourth-most visited Web site, said third-quarter profit rose 12 percent, beating analysts’ estimates, as the company increased sales of online advertising and Internet games.
Net income increased to US$38.7 million, or US$1.01 a share, from $34.4 million, or US$0.88, a year earlier, Sohu said in a statement yesterday. The Beijing-based company was expected to post a profit of US$35.5 million, the average of eight analysts’ estimates compiled by Bloomberg. Sales rose 20 percent to $164.1 million, it said.
Global Mobile beefs up 4G
Local WiMAX service provider Global Mobile Corp (全球一動) yesterday said it had expanded its 4G coverage to Taipei County last week, making it the fourth city or county to launch the high-speed data transaction service.
Global Mobile also said it aimed to further increase network coverage to about 70 percent of the population in the Greater Taipei area.
In May, Global Mobile launched 4G services in the capital.
TAIEX closes up 1.7 percent
The TAIEX yesterday closed 1.7 percent higher, breaching the 8,300-point level for the first time since Jan. 18, benefiting from a rebound in the electronics sector amid optimism over demand from China, dealers said.
The weighted index rose 138.92 points to 8,306.98, after moving between 8,199.49 and 8,307.59, on turnover of NT$127.10 billion.
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