Profit-taking hurts TAIEX
The TAIEX posted limited gains yesterday as profit-taking set in to erode early the upside after the index breached the technical resistance level of around 7,800 points, dealers said.
The index closed up 16.40 points or 0.21 percent at 7,757.76, after moving between 7,755.55 and 7,886.04, on turnover of NT$133.73 billion (US$4.6 billion).
ASE to buy back shares
Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) plans to buy back 50 million common shares, or 0.74 percent of total outstanding shares, the company said in a statement to the Taiwan Stock Exchange yesterday.
ASE plans to buy back shares at between NT$20 and NT$42 each from today through Nov. 1, it said.
CPC raises natural gas prices
State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) will raise domestic prices of natural gas for households by NT$0.46 per cubic meter starting today and keep liquefied petroleum gas prices unchanged this month, the refiner said in a statement yesterday.
CSC sells bonds
China Steel Corp (CSC, 中鋼), the nation’s largest integrated steelmaker, sold NT$9.3 billion worth of five-year unsecured bonds at 1.36 percent and NT$10.4 billion worth of seven-year bonds at 1.57 percent, the company said in an e-mailed statement yesterday.
Grand Cathay Securities Corp (大華證券) was the financial consultant for the deal, CSC said
Mitsubishi Heavy wins order
Mitsubishi Heavy Industries Ltd and CTCI Corp (中鼎工程) won an order from Taiwan Power Co (台電) to build three coal-fired thermal power units.
The 800 megawatt units will be built near Taipei and will go into operation between 2015 and 2020, Mitsubishi Heavy said in a -statement yesterday.
Mitsubishi Heavy will supply boilers and steam turbines and Mitsubishi Electric Corp will provide power generators, the statement said.
Taiwan Life plans share sale
Taiwan Life Insurance Co (台灣人壽) plans to sell 45 million new shares to raise a about NT$1.035 billion to help strengthen capital structure and fund operations, the company said in a statement to the stock exchange on Wednesday.
Banks make provisions
ProMOS Technologies Inc’s (茂德科技) creditor banks had set aside NT$29.4 billion (US$1.01 billion) for bad debts as of the end of last month, the Financial Supervisory Commission said in a statement on Wednesday.
The provisions cover 54 percent of the chipmaker’s outstanding loans with the 26 banks, the commission said.
Hannstar pays to settle case
Hannstar Display Corp (瀚宇彩晶) agreed to pay US$14.9 million in a US anti-trust case, the company said in a statement to the stock exchange on Wednesday.
DeNoma earns promotion
Chinatrust Financial Holding Co (中信金控) on Wednesday approved a plan to put the president and chief executive officer of its banking subsidiary Chinatrust Commercial Bank (中國信託商銀), Michael DeNoma, in charge of the parent’s banking business to help the group lift its global stature, Chinatrust Financial said in a statement.
DeNoma’s job will be filled by James Chen (陳佳文), a senior vice president in charge of institutional lending, the statement said.
NT dollar gains ground
The New Taiwan dollar continued gaining ground against the US currency yesterday, rising NT$0.06 to close at NT$28.96. Turnover totaled US$821 million during trading.
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
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
Taipei Times: When do you think the hospitality industry can return to how it was before the COVID-19 pandemic? How does Formosa International Hotels Group (FIH, 晶華酒店集團) fare this quarter and beyond? FIH chairman Steve Pan (潘思亮): The virus outbreak will have a serious impact on business travel, driven mainly by meetings, incentive travel, conferences and exhibitions over the past three decades. For the past six months, many businesspeople have grown used to exchanging information on the Internet, where more people can participate. The trend might sustain for three to five years until people are vaccinated and it is safe to