Sat, Oct 11, 2014 - Page 14 News List

Taiwan Business Briefs

Staff writer, with agencies

Watchdog to ease OSU rules

The Financial Supervisory Commission (FSC) yesterday said it was planning to ease regulations governing Taiwanese securities firms’ offshore securities units (OSU) to expand their business opportunities.

The commission said it would seek the central bank’s approval and hoped the new rules would take effect by the end of the month.

One of the proposed changes is the removal of restrictions on OSUs raising mutual funds which target the local bourse, with the total amount representing not more than 30 percent of their net worth.

OSUs may also be allowed to sell foreign currency-denominated structured securities that are linked to local shares, stock market indices and exchange-traded funds, the commission said.

Commission representatives are to attend a meeting scheduled by the legislature’s Finance Committee on Monday to brief lawmakers about the OSU mechanism and businesses.

Asustek sales slid last month

Asustek Computer Inc (華碩電腦), the world’s fifth-largest PC brand, said its consolidated revenue for last month reached NT$41.57 billion (US$1.37 billion), down 1.4 percent from August and 0.71 percent from a year earlier, according to the company’s statement released on Thursday.

The company’s third-quarter revenue was NT$123.9 billion, representing growth of 17.8 percent compared with the previous quarter and 4.31 percent higher than the year-earlier quarter, the statement said.

Compal posts record revenue

Contract notebook computer maker Compal Electronics Inc (仁寶) yesterday posted record-high revenue of NT$84.85 billion (US$2.78 billion) for last month, up 37 percent from NT$61.93 billion in September last year and 17.21 percent from NT$72.39 billion in August.

Sales for last quarter rose 12.37 percent to NT$ 226.84 billion, from NT$201.86 in the previous quarter, pushing cumulative sales in the first nine months of the year to NT$599.26 billion on a consolidated basis, up 20.05 percent compared with NT$499.17 billion in the same period last year, the company said.

Pegatron sales contract

Pegatron Corp (和碩), which assembles Apple Inc’s iPhones and iPads, yesterday reported sales of NT$105.98 billion (US$3.4 billion) for last month, down 10.88 percent year-on-year, but up 62.79 percent month-on-month. The company made NT$118.92 billion in September last year and NT$65.1 billion in August, it said in a stock exchange filing.

The firm’s third-quarter sales rose 13.21 percent to NT$238.28 billion, from NT$210.47 in the second-quarter. Cumulative sales in the first nine months of the year reached NT$666.76 billion, down 2.19 percent from a year earlier.

Everlight sales lifted by unit

Everlight Electronics Co (億光電子), the nation’s top LED chip packager, on Thursday posted record-high consolidated sales of NT$3 billion last month, up 6.5 percent from August and 26.3 percent from a year earlier.

In the July-to-September quarter, cumulative sales were NT$8.5 billion, up 10.8 percent from the previous quarter and 21.5 percent from a year ago, because of better-than-expected sales contribution from its German lighting subsidiary, WOFI Leuchten GmbH, which offset weak demand for both TV and information technology LEDs last month.

Primasia Securities Co said the company might again receive some rush orders during the seasonally slow fourth quarter, but the orders are likely to be small and will not have a material impact on overall sales, which are forecast to decline by 5 percent from last quarter, the brokerage said.

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