Wed, Jun 03, 2015 - Page 14 News List

Taiwan Business Quick Take

Staff writer

MANUFACTURING

Yeong Guan forecasts growth

Yeong Guan Energy Technology Group Co (永冠能源), which produces advanced casting components for specialized applications, yesterday said shipments are expected to increase more than 10 percent to 150,000 tonnes this year. With global demand for wind power turbines stabilizing, Yeong Guan chairman Chang Hsien-ming (張賢銘) told shareholders that the company plans to expand capacity by 75 percent in five years. Shareholders approved the company’s plan to distribute a cash dividend of NT$6.36 per share. The company, whose products are used in the fields of energy, industrial machinery, injection molding and medical equipment, reported a net profit of NT$233 million (US$7.5 million) in the first quarter, or NT$2.22 per share.

compact discs

CMC Magnetics shares rise

CMC Magnetics Corp (中環), the country’s largest maker of recordable compact discs, yesterday said its net value per share is expected to reach NT$12.68, after reducing company capital by 17.18 percent. Shareholders yesterday approved the NT$4.44 billion capital reduction scheme to improve the company’s financial structure. Following the reduction, CMC said, its paid-in capital is NT$21.38 billion. The company last year reported a net loss of NT$1.73 billion, or NT$0.67 per share, on consolidated sales of NT$16.14 billion.

GREEN ENERGY

Giga Solar foresees growth

Giga Solar Materials Corp (碩禾) president Huang Wen-jui (黃文瑞) yesterday said business will improve quarter-by-quarter this year. The Hsinchu-based firm focuses on photovoltaic conductive pastes for solar cells, with front-side silver paste, rear-side silver paste and aluminum paste. It reported a net profit of NT$1.49 billion last year, or NT$24.54 per share. Huang said the company’s aluminum paste and rear-side silver paste shipments are leaders in the world market, while front-side silver paste shipments are likely to increase by 50 percent this year from 250 tonnes last year. Shareholders yesterday approved a cash dividend payment of NT$15 per share.

COMPUTERS

Capital upbeat on MiTAC

Contract server maker MiTAC Holdings Corp (神達控股) is expected to grow server revenue further this quarter following more orders from new clients, while the consumer segment will see recovery as traditional low season gradually comes to an end, Capital Securities Corp (群益證券) said yesterday in a note. MiTAC’s revenue is estimated to rise 42 percent year-on-year and 24 percent quarter-on-quarter to NT$16.67 billion this quarter, driven by bullish growth momentum in both core and non-operating businesses, Capital said. Net income for this quarter may soar 146 percent year-on-year and 78 percent quarter-on-quarter to NT$769 million, with earnings per share of NT$0.99, the brokerage said.

RETAILERS

7-Eleven eyes ice growth

President Chain Store Corp (統一超商) yesterday said it expects its sales of icy treats to reach NT$2.5 billion (US$80.64 million) this year, from NT$2.2 billion last year, driven by sales of soft ice cream. The operator of 7-Eleven stores said it is scheduled to launch an apple-flavored soft ice cream product from Monday next week, using apples from Japan’s Aomori Prefecture. The firm said fruit-flavored ice products are a popular choice during the summer and the company plans to launch more time-limited fruit-flavored soft ice cream products in the next two months. It said sales of its soft ice cream last year totaled about NT$1 billion. Sales of its ice products last year accounting for about 30 percent of the total market, it said.

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