FOOD & BEVERAGE
TGI Fridays eyes growth
TGI Fridays (Taiwan) Inc (星期五), a unit of Bayshore Pacific Hospitality Ltd (北軒餐飲管理) that operates the US-style restaurant chain, yesterday said it is looking to grow its revenue by a double-digit percentage this year after adopting a new strategy to increase average customer spending by updating its menu. The chain, which has 13 outlets in the nation, saw sales last year rebound from 2013, bucking the declining trend of the previous three consecutive years, after Bayshore Pacific took over its management in August last year. The company last month launched 40 new menu items, a move that has generated NT$20 million (US$641,807) in sales for the chain thus far, which is set to help the company to reach the double-digit growth target set for the year, managing director Jeff Lee (李宏智) said. The chain has seen the new dishes drive up its average customer expenditure from NT$550 to about NT$600, the company said.
Photonic show next week
Ultraviolet (UV) and infrared (IR) LED lighting applications, optical applications on mobile devices and 3D printing technologies are the focus of this year’s Photonic show in Taiwan, show organizer the Phonics Industry and Technology Development Association (光電協進會) said yesterday. The association said that the production value of the nation’s optical electronics industry was worth NT$2.467 trillion last year, accounting for 12 percent of the global industry’s total production value of US$576.6 billion. The association said the annual trade show would be held in the Taipei World Trade Center and the Nangang Exhibition Hall from Tuesday to Thursday, with more than 500 companies showcasing the latest technologies and applications at more than 1,000 booths. The association expects more than 30,000 foreign visitors from 40 countries to visit the show.
Farglory plans Jiaosi hotel
Farglory Hotel Co (遠雄悅來大飯店), part of Farglory Group (遠雄企業集團), is scheduled to begin construction of a hotel in Jiaosi Township (礁溪), Yilan County, in the second half of this year at the earliest, with hopes of opening it in two to three years. Farglory Hotel, which operates a luxury hotel in Hualien, received a construction permit late last year for its construction plans for Jiaosi, with the company still awaiting permits for its other plans for sites on Taipei’s Yangmingshan (陽明山) and Chiayi County’s Alishan (阿里山). As for the hotel project in the controversial Taipei Dome complex, the company said it would continue discussions with its parent company for possible cooperation in the second half of this year.
Lite-On revenue down
Electronics component maker Lite-On Technology Corp (光寶科技) on Tuesday reported consolidated revenue of NT$16.76 billion last month, a decrease of 15 percent year-on-year and 2 percent month-on-month, which the company attributed to a slowdown of worldwide end-market demand. With stable order intakes for the company’s core businesses, such as optoelectronics and information technologies, Lite-On said its cumulative sales for the first five months of the year totaled NT$85.48 billion, a decrease of 5 percent from a year earlier.
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
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
GOGOROS TO GO: The scooter maker’s CEO said that the electric vehicles ‘are the perfect complement to a program designed to stimulate the Taiwanese economy’ Minister of Economic Affairs Wang Mei-hua (王美花) yesterday announced a draw to encourage people to claim their Triple Stimulus Vouchers digitally. The prizes include movie tickets and 25 electric scooters donated by Gogoro Inc (睿能創意), Wang said. The Ministry of Economic Affairs said that it would hold a scooter draw every day for the next 10 days, beginning yesterday, after which there would be a draw every week for 15 weeks. The first winner was a Taiwan Cooperative Bank (合庫銀行) credit card user, the ministry said. The benefits of claiming the vouchers digitally extend beyond the draws, with many businesses offering special deals for