Cowealth upbeat on demand
Medical equipment supplier Cowealth Medical Co (合富) posted revenue of NT$377.66 million (US$12.57 million) last month, up 6.04 percent from NT$356.14 million the previous year and more than 100 percent from NT$172.17 million the previous month, according to a company filing to the Taiwan Stock Exchange. Last quarter, Cowealth’s revenue was NT$740.21 million, up 12.08 percent from NT$660.41 million the previous quarter and 13.42 percent from NT$652.6 million the previous year, filing said. The China-focused company expects its revenue to grow 25 percent year-on-year this year on the back of rising demand for its diagnostics facilities and reagents in China.
NT dollar joins Asian rebound
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.103 to close at NT$30.199 on buying by foreign banks in the wake of a rebound staged by other regional currencies, in particular the won, dealers said. The central bank intervened toward the end of the session, as it has done in recent sessions, to help the greenback recoup some of its earlier losses in a bid to slow the pace of the Taiwan dollar’s appreciation, they said. Despite the central bank’s intervention, turnover remained thin, as many investors stayed on the sidelines ahead of the conclusion of a European Central Bank policymaking meeting later in the day, they added. Turnover totaled US$495 million.