Shell’s profit nearly doubles
Royal Dutch Shell PLC, Europe’s largest oil firm, yesterday said that second-quarter profits nearly doubled as higher oil prices and one-time gains offset a drop in production. Its net profit of US$8.66 billion was up from US$4.39 billion a year earlier. The figure was helped by a US$1.44 billion gain booked on a mix of tax credits, trading activities and the sale of businesses. Shell’s profit at its current cost of supplies was US$6.55 billion excluding one-time gains, up from US$4.21 billion a year earlier.
Hyundai Q2 profit rose 37%
South Korea’s Hyundai Motor yesterday said its second-quarter net profit rose 37.3 percent year-on-year, helped by brisk sales of fuel-efficient vehicles abroad and stronger contributions from affiliates. Net profit stood at 2.3 trillion won (US$2.18 billion) in the April-June period, compared with 1.68 trillion won a year earlier. Sales rose 19.1 percent to 20.09 trillion won, while operating profit rose 21.7 percent to 2.12 trillion won. The company sold 1.03 million cars in the three-month period, up 12.7 percent from a year ago.
Nintendo slides into red
Japan’s Nintendo yesterday reported a first-quarter loss and lowered its annual forecast, citing the strong yen, a lack of new hit game titles and research and marketing costs. The gaming giant booked a net loss of ￥25.5 billion (US$327.9 million) for the April-June quarter and cut its forecast for the year ending March to a net profit of ￥20 billion, down 74.2 percent from last year. Nintendo also said it would slash the price of its 3DS handheld console, released in February at ￥25,000, to ￥15,000, from Aug. 11 in Japan, to be followed by similar cuts in foreign markets by September.
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Swancor Renewable Energy Co (上緯新能源) yesterday announced plans for a 4.4 gigawatt (GW) offshore wind project off Miaoli County as part of its commitment toward Taiwan’s energy transformation, the company said in a statement. The “Formosa 4” project includes three deep-water wind farms 18km to 20km off the coast, Swancor Renewable CEO Lucas Lin (林雍堯) said, adding that planning for the project began last year. A proposal for Formosa 4 was this week submitted to the Environmental Protection Agency (EPA), the company said. Swancor Renewable jointly developed the Formosa 1 project, a 128 megawatt (MW) wind farm about 4km off Miaoli and the
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,