Thu, Mar 19, 2015 - Page 13 News List

Taiwan Business Quick Take

Staff writer, with CNA


Fubon buys Delta Lloyd stake

Fubon Financial Holding Co (富邦金控) yesterday said its life insurance arm, Fubon Life Insurance (富邦人壽), has secured a 5.47 percent stake in Dutch insurer Delta Lloyd NV for 204 million euros (US$216.55 million), eyeing the investment target’s nearly 6 percent payout ratio and its relatively low price-earnings (PE) ratio of between 7 and 8. Through the investment, Fubon Life might further strengthen cooperation with Delta Lloyd in a bid to raise the company’s global insight and competitiveness, the company said in a statement. Delta Lloyd is the fourth-largest insurance company in the Netherlands with an asset scale standing at about 90 billion euros. The company saw premium income last year total 3.9 billion euros.


Startups to receive funding

The government and eight companies yesterday jointly launched a NT$1.5 billion (US$47.56 million) AppWorks Fund II (本誠創投基金) to help Taiwanese business startups that develop mobile, big data and Internet of Things (IoT) applications. Jamie Lin (林之晨), cofounder of AppWorks Ventures (之初創投), a company that help incubate Internet startups, is set to manage the new fund. The company will use the fund to further integrate the engineering workforce with its mature e-commerce market over the next five years and tap into the fast-growing digital economy in Southeast Asia, Lin said at the fund’s launch ceremony.


Promise forecasts sales hike

Promise Technology Corp (喬鼎) yesterday said sales would pick up this month after dropping nearly 10 percent to NT$524 million in the first two months of the year from a year earlier, due to a port strike on the US west coast. Sales are expected to bottom out this quarter, with strong sales growth beginning next quarter, due to contributions from new clients and new products, chairman James Lee (李志恩) said. The company’s net income grew 23.4 percent year-on-year to NT$407.96 million last year, or NT$2.56 per share, on revenue of NT$3.82 billion. The firm produces redundant array of independent disks (RAID) and related software, with applications mainly in cloud and information technology, multimedia products and surveillance solutions.


UMC approves cash dividend

United Microelectronics Corp (UMC, 聯電) yesterday said its board approved the distribution of NT$0.55 per share in a cash dividend based on last year’s net profit of NT$12.14 billion, or NT$0.97 per share, with a payout ratio of 57 percent. The board also approved the issuance of 1.27 billion new shares via private placement to introduce technological strategic partners. The fundraising plan could be conducted in the forms of global depositary receipts or corporate bonds, the nation’s second-largest contract chipmaker said. UMC’s board also gave the go-ahead for capital spending of NT$24.103 billion to increase its capacity.


Neo Solar plans dividend

Solar cell maker Neo Solar Power Corp (新日光) yesterday said its board plans to distribute a cash dividend of NT$0.2 this year, based on earnings of NT$244 million, or NT$0.28 per share, it made last year, according to a company statement. The board also agreed to issue 180 million new shares at home or overseas, as the company plans to expand its business scale and improve its working capital. Neo Solar did not elaborate how much in funds it plans to raise in the move.

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