Fri, Feb 03, 2012 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

TAIEX rises on global data

Taiwanese share prices rose further yesterday amid improved sentiment after China, the US and Germany reported expansion in their manufacturing sectors, dealers said.

The improved production data relieved concerns over eurozone debt problems for investors, at least for now, who added large-cap stocks to their portfolios to propel the index past the 7,600 point mark, they said.

The weighted TAIEX closed up 103.25 points, or 1.36 percent, at 7,652.46 points on turnover of NT$166.27 billion (US$5.63 billion).

Wintek revenues drop

Local touch panel maker Wintek Corp (勝華科技) yesterday said that its consolidated revenues dropped 15.78 percent to NT$8.89 billion (US$301.05 million) last month, from a record high of NT$10.56 billion in December. On an annual basis, that represented 27.12 percent growth from NT$6.99 billion a year ago.

Vee Time to buy Vmax

Local WiMAX operator Vee Time Corp (威達雲端) yesterday said the board approved a plan to acquire a 72-percent stake in local peer Vmax Telecom Co (威邁思) for NT$391 million from Tecom Co (東訊) and Vibo Co (威寶電信) in an effort to expand its network coverage and customer base.

After the transaction, Vmax will be 72 percent owned and absorbed by Vee Time, marking the first WiMAX merger-and-acquisition deal in Taiwan’s WiMAX market.

Taipei Game Show opens

This year’s Taipei Game Show opened its doors yesterday, with a record number of vendors participating because of the popularity of games played on mobile gadgets and the Internet, organizers said.

The annual games show, which is expected to attract more than 200,000 visitors to the Nangang Exhibition Hall in Taipei this year, features 69 computer game producers operating 390 booths, nearly 40 percent more than the number last year, said the Taipei Computer Association (TCA, 台北市電腦公會), the organizer of the event.

The increase was attributed to the popularity of Internet games played on sites such as Facebook and game applications on smartphones and tablet computers, the TCA stated.

Wet weather impacts sales

Weather had a significant impact on sales figures for Taiwan’s department stores over the Lunar New Year holiday, with stores in the south generally outperforming those in the north, business sources said yesterday.

While department stores in northern Taiwan generally suffered from flat business during the nine-day break because of cold, rainy weather, those in the south enjoyed sales growth averaging 20 percent thanks to sunshine and balmy weather.

Shin Kong Mitsukoshi (新光三越), the largest department store chain in Taiwan with 13 stores nationwide, reported zero growth in its four Taipei stores during the holiday.

NT rises against greenback

The New Taiwan dollar advanced to a four-month high after US economic data eased concern the world’s largest economy is slowing, improving the outlook for Taiwan’s exports.

The NT dollar strengthened 0.5 percent to NT$29.550 against its US counterpart, according to Taipei Forex Inc.

“Risk sentiment is quite strong Thursday as we have some positive news from the US,” said Eric Hsing, a fixed-income trader at First Securities Inc (第一金證券) in Taipei. “That also sapped demand for government bonds.”

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