TIER boosts GDP outlook
The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for national GDP growth this year to 3.44 percent, citing steady improvements in private consumption and investment, as well as strong growth in exports driven by a robust demand for new consumer electronics.
The latest forecast was up from the 3.28 percent annual growth that the institute forecast in July.
For next year, the Taipei-based think tank said the economy could expand by 3.48 percent, despite some uncertainties in the global economy.
Siliconware posts results
Siliconware Precision Industries Co (SPIL, 矽品精密), the nation’s second-largest chip packager and tester, on Wednesday said consolidated revenue for last month rose 12.6 percent year-on-year and 1.72 percent month-on-month to NT$7.38 billion (US$241.45 million).
Total revenue for the first 10 months of the year increased 20.95 percent to NT$69.02 billion from a year earlier, Siliconware said.
Revenue for this quarter is expected to be between NT$19.7 billion and NT$21 billion, down by between 3 and 9 percent from last quarter, the company said in a conference call last month.
Yageo hit by slow season
Yageo Corp (國巨), the nation’s largest passive components maker, on Wednesday said consolidated sales rose to NT$2.12 billion last month, up 6.5 percent from a year earlier. However, the figure was down 13.4 percent from the previous month, as the slow season effect sapped sales in the Greater China region, Europe and North America.
Sales in the first 10 months of the year increased to NT$22.93 billion, 9.7 percent higher than the same period a year ago, Yageo said in a stock exchange filing.
Lextar posts NT$310m profit
Lextar Electronics Corp (隆達電子), which manufactures LED chips and provides packaging services, on Wednesday said it made a net profit of NT$310 million in the past quarter, its best performance since the second quarter of last year, when it reported a net profit of NT$307 million.
Earnings per share were NT$0.59 last quarter, compared with NT$0.35 a year earlier and NT$0.32 in the previous quarter, while gross margin rose to 16.8 percent from the year-earlier level of 15 percent and 14.5 percent the previous quarter, as cost reductions and efficiency improvements more than offset the decline in average selling prices.
For this quarter, Lextar expects revenue to fall by about 15 percent from the record level of NT$4.17 billion last quarter, due to seasonal factors, while gross margin might also trend down due to lower factory utilization and falling prices.
VietJet eyes Taiwan market
Vietnam-based budget airline VietJet on Wednesday said it was planning to explore the travel market between Taiwan and Vietnam in advance of launching a Taoyuan-Ho Chi Minh route on Dec. 12.
The new route could be especially popular among Vietnamese living in Taiwan, many of whom are workers or married to Taiwanese, VietJet Business Development Manager Desmond Lin (林義晃) said.
Government statistics show that Taiwan is home to more than 90,000 Vietnamese citizens and immigrants married to Taiwanese nationals.
VietJet plans to operate five round trips per week — excluding Thursdays and Saturdays — using Airbus 320 jets.
TV panels show meager growth
Global shipments of LCD panels used in televisions are forecast to increase by 3 percent next year from this year due in part to the limited capacity of Taiwan’s Innolux Corp (群創光電) and AU Optronics Corp (友達光電), David Hsieh (謝勤益), vice president of the Greater China market at NPD DisplaySearch, said in a report on Monday.
Combined shipment volume target for next year is 257 million units, compared with an estimated 249 million units for this year, Hsieh said.
However, the total surface area of the panels shipped next year should grow substantially, as strong growth is projected for large TV panels, he said.
LED market tipped to rise
LEDinside, an industry research center, on Tuesday predicted the value of the global lighting market would reach US$82.1 billion next year, of which LED lighting will take up nearly one-third at US$25.7 billion.
The LED market penetration rate will reach 31 percent next year, the research group said in a report.
Europe will have the largest market stake, with 23 percent of worldwide LED lighting next year, China will take a 21 percent market share, while the US will hold 19 percent and Japan 9 percent, the report said.
The Chinese market will see increasingly tense price competition because of the large number of suppliers in the nation, LEDinside said.
ITRI, MediaTek win honors
Thomson Reuters yesterday selected the Industrial Technology Research Institute (ITRI, 工研院) and MediaTek Inc (聯發科) among its top 100 global innovators for this year.
The mass media and information firm said 46 Asian companies were ranked on the top-100 innovators list this year, with two from Taiwan, 39 from Japan, four from South Korea and one from China.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion