Sat, Dec 13, 2014 - Page 14 News List

Taiwan Business Briefs

Staff writer, with agencies

Giga Solar plans China plants

Solar material producer Giga Solar Materials Corp (碩禾電子) plans to invest US$10 million to establish production lines in China, eyeing the domestic market there.

The company said yesterday its board had approved the investment plan. The preliminary plan is to set up plants in China’s Jiangsu Province or Zhejiang Province, Giga Solar said in a filing to the Taiwan Stock Exchange.

The Hsinchu-based company’s business focuses on photovoltaic conductive pastes for solar cells. The investment in China needs to gain regulatory approval in Taiwan.

Sime Darby sets sales goal

Sime Darby Kia Taiwan Co (台灣森納美起亞), which distributes Kia cars in Taiwan, aims to sell 4,000 cars in the local market by the end of next year, the company said.

The firm yesterday launched the locally assembled Carens, a seven-seater multipurpose vehicle, after introducing three new car models to Taiwan over the past month — the Morning subcompact, Optima sedan and Soul crossover.

Sime Darby Kia said it had sold 35 locally manufactured Morning cars from Nov. 13 through yesterday, while the imported Optima and Soul models are expected to hit the local market by the end of next month, the company said.

EVA Air expands codeshare

EVA Airways Corp (EVA, 長榮航空) and Singapore Airlines Ltd yesterday started code-sharing their flights to the US and Canada, expanding a codeshare agreement between the two carriers on the Taipei-Singapore route.

Singapore Airlines passengers will now be able to fly to Los Angeles, Seattle, San Francisco and John F. Kennedy International Airport in New York, as well as Toronto and Vancouver from Taiwan Taoyuan International Airport, according to EVA.

“This mutually beneficial partnership gives both EVA Air and Singapore Airlines passengers more flexibility in their flight itineraries,” EVA executive vice president Glenn Chai (翟健華) said in a statement.

Banks may face risks: Fitch

Taiwanese banks may face potential downside risks from rising exposure in China and a protracted slowdown in advanced economies and China, adding to pressure on their credit profiles, Fitch Ratings Ltd said yesterday.

The Taiwanese banking sector’s aggregate exposure in China, mainly focused on lending to Taiwanese firms operating in the nation, is moderate at about 10 percent of their total assets as of June 30, Fitch Ratings said.

“Fitch expects the exposures to rise to 15 percent by 2016, with the credit quality in exposures in China likely to weaken as the banks expand to provide loans to local borrowers on the mainland,” the agency said in a statement.

CTCI office building space sells

A British Virgin Islands-registered company on Thursday bought partial floors of the upscale CTCI (中鼎工程) office building in Taipei’s Dunhua S Road for NT$2.845 billion (US$90.96 million) through an auction, 0.4 percent higher than the asking price, bidding organizer Savills Taiwan Ltd (第一太平洋戴維斯) said.

The one above-ground floor and one basement floor of the CTCI building have a total floor space of 3,751.63 ping (12,402m2). The transaction translates into NT$793,000 per ping, according to Savills.

The floors represent the remaining underlying assets of the Gallop No. 1 real-estate investment trust fund issued by Mega International Commercial Bank (兆豐銀行) in 2007. They were put on the market again after failing to secure a buyer in the previous auction last month.

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