Two of the founders of the nation’s largest handset camera lens supplier 27 years ago made their debut on the Forbes list of Taiwan’s 50 richest individuals this year.
Former Largan Precision Co (大立光) chairmen Scott Lin (林耀英) and Tony Chen (陳世卿) ranked 33rd and 40th respectively on this year’s list, thanks to a more than doubling of the company’s share price in the past year, according to Forbes magazine.
Lin and his family have a net worth of US$1.2 billion, while Chen and his family have US$950 million, the magazine said.
Largan counts Apple Inc as its largest client. HTC Corp (宏達電), BlackBerry Ltd, Nokia Oyj, Samsung Electronics Co, Xiaomi Corp (小米), Huawei Technologies Co (華為) and ZTE Corp (中興) are also major customers.
The market value of the Nantun District (南屯), Greater Taichung-based company reached NT$299.8 billion as of yesterday, when its share price rose 0.68 percent to NT$2,235, the most expensive stock on the local bourse.
Increasing investor confidence in the company’s growing business, bolstered by orders from Apple and non-Apple clients, has lifted the stock 83.95 percent so far this year and 142.93 percent over the past 12 months.
On Wednesday, Daiwa Capital Markets Taiwan became the latest foreign brokerage house to raise its target price for the company, placing it at NT$2,560 from its prior forecast of NT$2,400.
Daiwa cited increasing revenue contribution from Chinese smartphone brands for the upgrade.
Largan is expected to further benefit from the launch of two new iPhone 6 models despite likely smaller spec upgrades, Daiwa analyst Kylie Huang (黃奎毓) said in a client note.
Meanwhile, Want Want Holdings Ltd (旺旺控股) chairman Tsai Eng-meng (蔡衍明), who has a net worth of US$9.6 billion, continued to lead the club of Taiwan’s wealthiest this year, Forbes said.
The nation’s second-richest title went to the Wei brothers of Ting Hsin International Group (頂新集團), with US$8.6 billion.
The group includes Wei Chuan Foods Corp (味全食品) in Taiwan and instant-noodle brand Master Kong (康師傅) in China.
The third, fourth and fifth wealthiest are Fubon Group (富邦集團) founder Tsai Wan-tsai (蔡萬才) and family, with US$7.9 billion; Hon Hai Precision Industry Co (鴻海精密) chairman Terry Gou (郭台銘), with US$6.05 billion; and Lin Yu-lin (林堉璘), founder of the Hong Tai Group (宏泰集團) and a prominent commercial property developer, with US$6 billion, the report said.
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
Macronix International Co (旺宏), the world’s biggest NOR flash memory supplier, yesterday said it would spend NT$22 billion (US$699.1 million) on capacity expansion this year to increase its production of mid-to-low-density memory chips as the world’s major memorychip suppliers are phasing out the market. The company said its planned capital expenditures are about 11 times higher than the NT$1.8 billion it spent on new facilities and equipment last year. A majority of this year’s outlay would be allocated to step up capacity of multi-level cell (MLC) NAND flash memory chips, which are used in embedded multimedia cards (eMMC), a managed
CULPRITS: Factors that affected the slip included falling global crude oil prices, wait-and-see consumer attitudes due to US tariffs and a different Lunar New Year holiday schedule Taiwan’s retail sales ended a nine-year growth streak last year, slipping 0.2 percent from a year earlier as uncertainty over US tariff policies affected demand for durable goods, data released on Friday by the Ministry of Economic Affairs showed. Last year’s retail sales totaled NT$4.84 trillion (US$153.27 billion), down about NT$9.5 billion, or 0.2 percent, from 2024. Despite the decline, the figure was still the second-highest annual sales total on record. Ministry statistics department deputy head Chen Yu-fang (陳玉芳) said sales of cars, motorcycles and related products, which accounted for 17.4 percent of total retail rales last year, fell NT$68.1 billion, or
In the wake of strong global demand for AI applications, Taiwan’s export-oriented economy accelerated with the composite index of economic indicators flashing the first “red” light in December for one year, indicating the economy is in booming mode, the National Development Council (NDC) said yesterday. Moreover, the index of leading indicators, which gauges the potential state of the economy over the next six months, also moved higher in December amid growing optimism over the outlook, the NDC said. In December, the index of economic indicators rose one point from a month earlier to 38, at the lower end of the “red” light.
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