Wed, May 20, 2015 - Page 14 News List

Taiwan Business Quick Take

Staff writer

STOCK EXCHANGE

Firms’ pre-tax profit up 3.4%

The aggregate pre-tax profit posted by 801 listed companies totaled NT$441.3 billion (US$14.4 billion) in the first quarter, up 24.41 percent from NT$354.7 billion in the same period last year, the Taiwan Stock Exchange (TWSE) said in a statement yesterday. The TWSE said 801 listed firms in the non-financial sector met last week’s Friday deadline to report their first-quarter results, while touchpanel maker Wintek Corp (勝華科技) failed to release its quarterly results due to business restructuring. The semiconductor, electronics and transportation sectors served as major drivers for listed firms’ profit growth last quarter, the exchange said. Aggregate sales for the 801 firms rose by 3.4 percent from a year earlier to NT$6.32 trillion last quarter, it said.

SMARTPHONES

Largan shares hit record high

Shares of Largan Precision Co (大立光), a leading smartphone camera lens module supplier, yesterday hit a record high as investors expressed confidence in the company’s leading position in the sector. Largan shares, which are the most expensive stocks in Taiwan, closed 6.23 percent higher at NT$3,325, the highest ever in the company’s history, boosting its market capitalization to NT$446.02 billion, Taiwan Stock Exchange data showed.

CHIPMAKERS

Powerchip gets loan for debts

Powerchip Technology Corp (力晶科技), which makes memory chips and driver ICs for displays, yesterday said it has obtained NT$15 billion in syndicated loans from 15 local lenders led by Land Bank of Taiwan (土地銀行) to repay debts. Powerchip has reduced its bank loans to NT$20 billion as of March. After paying back all of its loans, the chipmaker is to return to normal operation, the company said in a filing with the Taiwan Stock Exchange.

SMARTPHONES

HTC sales drag on Silitech

Handset keypad supplier Silitech Technology Corp (閎暉) is expected to see weaker-than-expected sales growth this quarter from last quarter’s NT$868 million because of slowing demand for HTC Corp’s (宏達電) flagship One M9 model, HSBC Securities Taiwan Corp Ltd said in a note on Monday. The brokerage also said Silitech’s plan to start producing 3D glasses for Samsung Electronics Co this quarter would initially suffer from poor yield, as it is the first 3D glasses project with a screen size larger than 2 inches. However, 3D glass revenue is expected to account for 10 percent of the company’s sales this year, compared with 1 percent last year, HSBC said. In the first quarter, Silitech reported net income of NT$30 million, up from NT$1 million in the previous quarter and a net loss of NT$46 million a year earlier, with earnings per share of NT$0.16.

SECURITIES

Fubon investment approved

Fubon Securities Co (富邦證券), the brokerage subsidiary of Fubon Financial Holding Co (富邦金控), has won the Financial Supervisory Commission’s (FSC) approval to invest in a Chinese futures company. Fubon Securities plans to invest no more than 360 million yuan (US$58 million) to acquire a 40 percent stake in Huishang Futures Broker Co Ltd (徽商期貨) to be the second-largest shareholder in the Chinese futures broker. The approval marks the first filing by a brokerage house in Taiwan to receive the commission’s permission to invest in a Chinese futures broker since Beijing lifted a ban on foreign investments in Chinese futures companies in October last year.

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