TAIEX up on tax proposal
A proposal to exclude certain foreign investors and retail investors from a capital gains tax on stock gains planned by the government helped Taiwanese shares edge higher yesterday, breaking a three-session losing streak.
The benchmark TAIEX closed 66.44 points, or 0.87 percent, higher at 7,706.26 on turnover of NT$77.51 billion (US$2.62 billion).
Market sentiment turned slightly upbeat after a tax reform meeting held by the Ministry of Finance a day earlier reached consensus that certain foreign institutional investors and local retail investors should be exempt from any capital gains tax on stock investments the government decides to impose.
Wowprime plans China hot-pot
Wowprime Corp (王品), which owns 11 restaurant brands in Taiwan and China, yesterday said its board has approved the plan to spend US$5 million on operating a hot-pot restaurant in China.
The new restaurant will target price-sensitive consumers in China, the company said in a filing to the Taiwan Stock Exchange.
In a separate filing, Womwprime said the board gave the go-ahead to spend an additional US$8.16 million on its steak house Tasty (西堤) in Shanghai.
The board also approved a proposal to distribute a cash dividend of NT$10.24 per share.
Townships ink peach pact
A township in Taoyuan County signed a memorandum of understanding for agricultural cooperation yesterday with a township in Shanghai to help promote bilateral exchanges.
Taoyuan county commissioner Wu Chih-yang (吳志揚), who arrived in Shanghai with a 14-member delegation a day earlier to take part in the opening of the Shanghai Peach Blossom Festival, witnessed the inking of the agreement with Jiang Liang (姜梁), governor of the Pudong New Area, to promote the peaches that are specialties of both Fusing and Datuan townships.
Garuda hires Taiwanese
Indonesia’s flagship airline, PT Garuda Indonesia, began interviewing flight attendants in Taiwan yesterday in preparation for a resumption of flights to Taiwan — the ability to speak Hoklo (commonly known as Taiwanese) was one of the main skills required.
About 60 percent of passengers who fly between Jakarta and Taipei are Taiwanese, which makes fluency a basic requirement, said Garuda Indonesia Taiwan general manager Joseph Tendean. Tendean said the airline is recruiting flight attendants in Taiwan for the first time instead of sticking with Indonesian personnel because of the especially friendly attitude of Taiwanese cabin crew members he had encountered on other airlines.
Hoping to recruit 20 flight attendants in Taiwan, Garuda received about 900 applications, of whom 200 people made the cut for yesterday’s first round of tests.
Synnex revenue slips 8%
Local electronics retailer Synnex Corp (聯強國際) yesterday said revenue slid 8 percent to NT$26.38 billion (US$895 million) last month from a year ago, with communications sales dropping fastest.
Sales of communications products such as mobile phones decreased 29 percent to NT$3.32 billion, from NT$4.71 billion, according to a company statement.
That brought the company’s first-quarter revenue to NT$72.6 billion, down 2.2 percent from NT$74.2 billion in the same period last year.
NT dollar falls
The New Taiwan dollar dropped NT$0.043 against the US dollar yesterday, to finish at NT$29.562. Turnover totaled US$542 million during the trading session.