Sat, Jun 01, 2013 - Page 14 News List

Taiwan Business Quick Take

Staff writer, with agencies

ECONOMY

TAITRA plugs Web platform

Local manufacturers and exporters can make use of an e-commerce platform to expand their overseas markets, the Taiwan External Trade Development Council (TAITRA) said yesterday. The platform iDealEZ, which TAITRA launched in January in collaboration with EBay, has helped Taiwanese auto parts makers secure orders worth US$570,000 to date. However, the volume accounts for only a fraction of the annual output of Taiwan’s auto parts industry, which totaled NT$226.3 billion (US$7.56 billion) last year, TAITRA said.

FINANCE

Half of banks meet Basel III

About half of the nation’s banks have met the fully phased-in Basel III tier-1 capital requirement, while the rest are expected to be compliant through future earnings retention, Fitch Ratings said on Thursday. Total capital shortfall is manageable and expected to be funded by issuing Basel III-compliant tier-2 instruments, Fitch said. However, Taiwanese banks’ capitalization remains among the weakest in the region due to thin profits, it added.

PERSONAL WEALTH

Tsai still on top of rich list

Food tycoon Tsai Eng-meng (蔡衍明) remains the richest person in Taiwan, with a net worth of US$10.6 billion, Forbes Asia magazine reported. Tsai’s net worth has grown by US$2.6 billion from a year ago, largely on an increase in the stock price of the Hong Kong-listed Want Want China Holdings Ltd (中國旺旺控股), Forbes said.

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