Taiwan Pelican Express Co Ltd (台灣宅配通), a unit of Teco Group (東元集團) specializing in door-to-door delivery services and logistics, is scheduled to list on the Taiwan Stock Exchange on Dec. 12.
The company aims to offer 9.47 million shares via the listing plan, with the price of the initial public offering tentatively set at NT$43 per share, according to its underwriter, KGI Securities Co (凱基證券). The listing will help finance the company’s investment next year, it said.
“This will make us the first delivery service provider listing on Taiwan’s securities market,” Taiwan Pelican chairwoman Sophia Chiu (邱純枝) told an investors’ conference yesterday.
Taiwan Pelican was the first delivery service provider founded in Taiwan in 2000, as part of a deal between Teco and Nippon Express Co — one of Japan’s largest international freight forwarders.
Taiwan Pelican remains one of three largest freight forwarders in Taiwan, with three hubs in northern, central and southern Taiwan.
After listing on the main board, Chiu said the company plans to invest NT$500 million (US$16.86 million) to NT$1 billion next year establishing its fourth hub in Taiwan, as well as upgrading its fleet and logistics facilities.
Meanwhile, Taiwan Pelican president Eric Lu (呂力行) cited logistics and one-station services as the biggest driver of growth, helping the firm gain various major clients and build long-term partnerships.
The customer-to-customer business is to be the company’s next target sector as it pursues stronger profitability amid tough competition in the market, Lu added.
Taiwan Pelican’s consolidated sales were NT$2.13 billion in the first nine months of the year, up 0.79 percent from a year earlier, the company said in a filing to the stock exchange.
Total net income was NT$132.94 million, or NT$1.55 per share, in the first nine months of the year, compared with NT$153.88 million, or NT$1.79 per share, a year earlier, statistics showed.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”