Sat, Mar 21, 2015 - Page 14 News List

Taiwan Business Quick Take

Staff writer


Taiwan Star to end 4G offer

Taiwan Star Cellular Corp (台灣之星), a telecommunications arm of Ting Hsin International Group (頂新國際集團), yesterday said it is ending its low-priced 4G flat-rate package by the end of this month. Starting next month, Taiwan Star will stop offering its unlimited 4G service package that carries a minimum monthly charge of NT$599. The number of subscribers to this package rose threefold this week from last week, the company said. Mobile users who prefer flat-rate packages can still subscribe to Taiwan Star’s 4G service packages with higher minimum monthly fees ranging from NT$799 to NT$2,599.


FamilyMart, I-Mei team up

Taiwan FamilyMart Co (全家便利商店), the nation’s second-largest convenience store operator with 2,952 stores nationwide, yesterday said it was forming a strategic alliance with I-Mei Foods Co Ltd (義美食品) to sell up to 100 I-Mei products, after the retailer started selling I-Mei soybean milk products on March 4. FamilyMart said it sold 500,000 bottles of I-Mei soybean milk products per week, raising the company’s soybean milk sales by 80 percent. The convenience store operator added that it plans to choose 200 to 300 outlets in residential areas to set up independent store shelves for I-Mei products in May.


Everlight to build new plant

Leading LED lighting and product supplier Everlight Electronics Co (億光電子) said it would invest NT$1.3 billion (US$41.2 million) to purchase land, facilities and equipment for a factory in Miaoli County’s Tongluo Township (銅鑼). The new factory is expected to begin a test run early next year. To meet the firm’s capacity expansion needs, Everlight’s board on Wednesday approved a five-year unsecured convertible bond issue of NT$5 billion, the company said in a Taiwan Stock Exchange filing. Last year, Everlight posted a net income of NT$2.2 billion, or NT$5.12 per share. The board this week proposed distributing cash dividends of NT$4 per share, implying a dividend yield of 5.17 percent based on yesterday’s closing price of NT$77.4.


UBS upgrades Uni-President

UBS Securities Ptd Ltd yesterday upgraded its rating for Uni-President Enterprises Corp (統一企業), the nation’s largest food-and-beverage conglomerate, to “buy” from “neutral,” on expectations that a turnaround in the firm’s beverage business in China would boost its earnings growth this year and next. Uni-President Enterprises could also see continued margin expansion this year, as the company extends its product portfolio restructuring to “all” products following last year’s food safety scandals, UBS said in a research note. The brokerage raised its price target for Uni-President from NT$51 to NT$58, or 24 times its estimated earnings per share of NT$2.42. The stock closed flat at NT$51.50 yesterday.


Kee Tai income up 43.2%

Kee Tai Properties Co (基泰建設) yesterday reported stellar earnings for last year and announced plans to distribute cash dividends of NT$1.25 per share. Net income rose 43.2 percent from a year ago to NT$1.3 billion, or NT$3.18 per share. With the stock closing at NT$20.45 yesterday, the proposed cash dividends imply a yield of 6.11 percent.

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