Fri, Dec 19, 2014 - Page 14 News List

Taiwan Business Quick Take

Staff writer, with agencies

RETAIL

Citylink to open in Nangang

Ruentex Development Co (潤泰創新) is scheduled to open a Citylink shopping center that is connected to MRT Nangang Station today, after the first Citylink mall opened at Songshan Railway Station last year. The Nangang mall will be linked to the high speed rail system in the future. The new mall boasts a total floor space of 16,000 ping (52,890m2) and can accommodate 150 shops. Ruentex said annual revenue at the mall is expected to range between NT$2 billion and NT$2.5 billion (US$63.6 million and US$79.5 million).

SEMICONDUCTORS

SPIL expects lower capex

Siliconware Precision Industries Co (SPIL, 矽品精密), the nation’s second-largest chip testing and packaging service provider, yesterday forecast lower capital spending for next year at NT$14.5 billion, down from an estimated record-high of NT$21.1 billion this year. Capital expenditure for next year will mainly focus on expanding the company’s advanced technologies capacity and on research and development, SPIL said in a statement. Aside from its own capital, SPIL plans to arrange new bank loans to fund its capacity expansion, it said.

SOLAR

SAS to set up subsidiary

Solar wafer maker Sino-American Silicon Products Inc’s (SAS, 中美晶) board yesterday approved a plan to set up a new subsidiary to build solar farms, the company said in a statement to the Taiwan Stock Exchange. The company said investment in each solar farm will be capped at NT$100 million, but it did not say where the solar farms would be located.

FINANCE

Russia risk limited: FSC

Turmoil in Russia’s financial markets has prompted worries about its impact on Taiwanese financial firms, but the Financial Supervisory Commission (FSC) said domestic companies’ direct exposure to “Russia” is limited. Taiwanese banks had NT$30.7 billion in aggregate exposure in Russia as of the end of October, including NT$17.8 billion in loans, or 0.07 percent of Taiwanese banks’ total lending, and NT$12.9 billion in direct investment, or 0.56 percent of total investment, the commission said yesterday. Taiwanese life insurers had NT$105.2 billion in Russian exposure as of October, or 0.92 percent of total investment, the commission said.

STEEL

CSC posts solid earnings

China Steel Corp (CSC, 中鋼), the nation’s largest integrated steelmaker, on Wednesday reported a pretax profit of NT$2.87 billion for last month, down 2.45 percent from NT$2.94 billion in October, but up 65.07 percent year-on-year from NT$1.74 billion. Pretax profit for the first 11 months of the year totaled NT$26.08 billion, an increase of 18.38 percent from NT$22.03 billion a year earlier.

TELECOMS

Coolpad installing malware

Coolpad Group Ltd (酷派), China’s fourth-largest smartphone vendor, has installed software providing a backdoor to its devices, a report by Palo Alto Networks Inc said. The backdoor sends information such as calling history to Coolpad servers and also activates applications on the phones using Google Inc’s Android without user consent, the report said. While some mobile companies install apps to gather statistics on how devices are performing, the software “goes well beyond this” to act as a true backdoor into Coolpad devices, Palo Alto Networks said.

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