Yuanta profit up almost 5%
Yuanta Financial Holding Co (元大金控), owner of the nation’s biggest securities brokerage, yesterday said its net profit grew 4.45 percent year-on-year to NT$1.9 billion (US$60.85 million) last month, bringing its cumulative profit for the first quarter of the year to NT$4.05 billion. The Taipei-based firm’s net profit for the first quarter was 10.65 percent higher than the same period last year, with earnings per share of NT$0.4, according to a company filing with the Taiwan Stock Exchange. Yuanta Securities Co (元大寶來證券) posted a NT$2.36 billion profit for the first quarter, up 28.57 percent from the previoius year.
Seasonal shift hits Hermes
Semiconductor equipment maker Hermes Microvision Inc (漢微科) yesterday posted a 34.69 percent annual increase in revenue for last quarter, due to new product transition. However, the NT$1.57 billion revenue for last quarter was nearly 42 percent lower than the previous quarter, which was lower than the company’s forecast of a 50 percent decrease, but larger than the 32 percent quarterly decline forecast by Deutsche Bank.
Advantech sales surge
Advantech Co (研華) yesterday reported the highest monthly sales in the company’s history last month, boding well for the leading industrial computer maker’s outlook for this quarter aided by its growing presence in the factory automation and logistics industries. Sales rose 9.5 percent year-on-year and 43.95 percent month-on-month to NT$3.39 billion, with cumulative sales for the first quarter hitting NT$8.8 billion, up 8.03 percent from the previous year, the highest quarterly level on record.
Pacific Hospital sales dip
Pacific Hospital Supply Co (太平洋醫材), the nation’s largest manufacturer of medical supplies, yesterday said its sales for the first quarter declined 2.24 percent from the previous year, as sales growth slowed in some major markets, while construction of new plants has yet to be completed. Accumulated sales for the first three months of the year were NT$363.49 million, down from NT$371.81 million the previous year, the company said in a filing to the stock exchange.
Apex Medical sales soar
Respiratory therapy equipment maker Apex Medical Corp (雃博) yesterday said strong growth in orders from the Asia-Pacific region and stable sales in the Greater China region increased its sales by 50.13 percent month-on-month last month to NT$221.07 million, which was 0.56 percent higher than the previous year. While sales for the first quarter fell 11.56 percent from the previous year to NT$517.77 million, sales for this quarter are expected to bounce back and the sales for the whole year are forecast to register double-digit percentage growth from last year’s NT$2.27 billion.
Lite-On Q1 sales edge up
Electronic components maker Lite-On Technology Corp’s (光寶科技) core businesses — including optoelectronics, LED components and information technology peripherals — have healthy order books amid stable market demand, leading the company’s sales last month to grow 26.44 percent from the previous month. Sales were NT$18.19 billion last month. First-quarter sales totaled NT$51.54 billion, slightly up from NT$51.39 billion in the same period last year, the company said.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to