Nation is No. 5 net creditor
The nation’s international investments recorded a net asset position of US$850.9 billion as of the end of last year, making Taiwan the fifth-largest net creditor after Japan, China, Germany and Switzerland, the central bank said yesterday.
A nation’s international investment position is the balance sheet of the stock of residents’ financial assets and liabilities to the rest of the world.
Last year’s figures were up US$44.9 billion, or 5.6 percent, from US$8.6 billion recorded a year earlier, and marked the highest level in history, the central bank said in its latest report.
This was attributable to increases both in banks’ overseas deposits and in investment in overseas debt securities by insurance companies, the report said.
Taiwan’s total external assets grew by US$131.2 billion, or 10 percent, to US$1,437.9 billion at the end of last year from a year earlier, with total external liabilities standing at US$587 billion, up 17.3 percent from 2012.
TWi targets UK holding firm
TWi Pharmaceuticals Inc (安成), which focuses on developing specialty generic prescription drugs for the US market, yesterday said its board had approved a plan to establish a holding company in the UK.
The company plans to spend no more than US$20 million in setting up the holding company, according to its filing with the Taiwan Stock Exchange.
The move aims to help development of injectable medicines while diversifying operational risks, the filing said. The investment still needs approval from the Investment Commission under the Ministry of Economic Affairs, it said.
MediaTek Inc adds real estate
Handset chip developer MediaTek Inc (聯發科) on Thursday signed an agreement with Neo Solar Power Corp (新日光) to buy the solar-cell maker’s property in Hsinchu Science Park (新竹科學工業園區) for NT$410 million (US$13.67 million).
MediaTek said the company plans to use the property for self-use office buildings, a filing with the Taiwan Stock Exchange said.
Neo Solar said it would book a NT$70 million gain from the property disposal as the company continues working to revitalize its idle assets.
Analysts upbeat on FPCB firms
Three major Taiwanese suppliers of Apple Inc’s flexible printed circuit boards (FPCBs) may have the worst behind them after posting flat to slightly better sales results for last month, analysts said.
Based on companies’ filings with the Taiwan Stock Exchange, Career Technology Co’s (嘉聯益) sales registered increases of 5.8 percent month-on-month and 29.6 percent year-on-year to NT$1.14 billion, while Zhen Ding Technology Holding Ltd (臻鼎) posted a 1.1 percent monthly decrease, but 15 percent annual increase in sales to NT$5.24 billion last month.
Flexium Interconnect Inc (台郡), meanwhile, saw sales rise 16.8 percent from April, but fall 21.6 percent from May last year to NT$709 million.
GioVision dividends approved
Digital surveillance equipment supplier GioVision Inc (奇偶) on Thursday said shareholders approved a plan to distribute a cash dividend of NT$7.2 per share and a stock dividend of 10 percent after earnings grew 14.72 percent to NT$582.19 million (US$19.38 million) last year, its highest since 2008.
The dividend payout translates into a cash payout ratio of 78.69 percent and a cash and stock payout ratio of 89.62 percent, based on the company’s earnings per share of NT$9.15 for last year.
In the first five months of the year, cumulative sales totaled NT$921.07 million, up 3.54 percent from a year earlier.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
STAYING AHEAD: TSMC expects its sales this year to grow 14 to 19 percent and could spend up to US$3.52 billion on research and development, leaving its rivals far behind Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) reported that the US last year approved 99 percent of its patent applications, which placed the tech giant among the top patent holders in the US. In its Corporate Social Responsibility Report, TSMC said it last year secured about 3,600 patents worldwide, including more than 2,300 in the US. As of the end of last year, TSMC owned more than 39,000 patents, the report said. The company last year filed almost 6,500 patent applications worldwide and ranked among the top 10 patent applicants in the US. In Taiwan, it was the largest patent applicant for the fourth