Sat, Apr 18, 2015 - Page 14 News List

Taiwan Business Quick Take

Staff writer


Merry Electronics shares fall

Shares in speaker and earphone supplier Merry Electronics Co (美律) plunged yesterday after Credit Suisse downgraded its rating on the stock to “neutral” from “outperform” on dim sentiment toward the company’s likely entertainment-product sales and its limited prospects for margin improvement this year. Merry shares declined 6.86 percent to NT$85.6 in Taipei trading. They are down 17.58 percent so far this year, compared with the benchmark TAIEX’s 3.76 percent rise. “Despite a favorable product mix migration, we believe any benefits from this shift are likely to be offset by pricing pressure and an increase of 10 to 15 percent in labor costs in China,” Credit Suisse said in a note. The brokerage cut its earnings forecasts by 14 percent and 19 percent for this year and next year respectively, and lowered its share price target to NT$97 from NT$140.


Wowprime’s Day to retire

The head of restaurant chain operator Wowprime Corp (王品集團) has a message for its shareholders this year — he will retire in three years. At the company’s annual general meeting in Taichung on Thursday, Wowprime chairman Steve Day (戴勝益) said he would hand over the company’s top post to a policymaking management team on Dec. 10, 2018, when he turns 65. Apart from Day, the management team also includes Wowprime co-founder Chen Cheng-hui (陳正輝), vice chairman Endy Wang (王國雄), Wowprime China CEO Lobo Lee (李森斌) and two other company executives.


PChome eyes B2C market

Online shopping portal PChome Online Inc (網路家庭) is set to launch a new business-to-consumer (B2C) platform next week, as the company seeks to further engage with the nation’s small and medium-sized suppliers. The company plans to hold a press conference next week, at which PChome chairman Jan Hung-tze (詹宏志) would formally introduce the new platform, the Chinese-language United Evening News reported yesterday. PChome’s B2C sales saw 22 percent annual growth last year, driven mainly by more non-information technology product offerings.


TWi obtains US licenses

TWi Pharmaceuticals Inc (安成), a developer of specialty generic drugs, yesterday said its fully-owned subsidiary, TWi Pharmaceuticals USA, has obtained sales licenses from all 50 US states. The company said it has been in close contact with the major retail pharmacy distributors and wholesalers in the US and expects to have its own-label specialty generic products soon sold through these channels. TWi Pharmaceuticals shares fell by the maximum daily limit of 7 percent to NT$190 yesterday, after the company said on Thursday the release of its new drug, Lidoderm, might be delayed until next year.


EVA Air to expand flights

EVA Airways Corp (EVA, 長榮航空), the nation’s second-largest airline, yesterday said it is expanding its market base in North America by opening up new routes and increasing the number of flights on existing ones. From June 19, the airline is set to launch three flights per week between Taoyuan and Houston, Texas, and is scheduled to increase the number to four from July 1. In addition, EVA is to increase the number of weekly flights to Toronto and Vancouver from Taiwan starting from Dec. 12. On Thursday, the airline said it would add more flights to its route between Taiwan and Singapore from June 21.

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