COTA acquisition fails
Local financial service provider Waterland Financial Holdings Co (國票金控) yesterday said that its intention to acquire COTA Commercial Bank (三信銀行) has failed. Waterland was unable to purchase the required 256 million shares — or 51 percent share — of COTA, at NT$17.8 per share, during the period between June 29 and yesterday. Waterland only bought 83 million shares, it said in a statement filed with the Taiwan Stock Exchange. Waterland’s hostile acquisition failed as it faced opposition from COTA. The bank’s board rejected the acquisition after a meeting on July 1.
China Steel profit plunges
China Steel Corp (中鋼), the nation’s biggest steelmaker, yesterday reported NT$224 million (US$6.92 million) in pre-tax profit for last month, plunging 84 percent from a month earlier as prices drifted into a non-stop downward spiral on oversupply. In June, China Steel made NT$1.44 billion in pre-tax profit. Revenue slid 0.3 percent to NT$23.94 billion last month, compared with NT$24.02 billion in June, according to a company statement. Meanwhile, shipments jumped 17 percent to 922.89 tonnes last month, from 788.9 tonnes in June. In the first seven months, the steelmaker’s pre-tax profit stood at NT$10.83 billion.
Global shipments down
Global TV panel shipments dropped 1 percent last month to 22.31 million units from 22.6 million in June due to sluggish TV demand, with local panel makers suffering a faster decline, market researcher TrendForce Corp (集邦科技) said in a report released yesterday. Taiwan’s two biggest LCD panel makers, Innolux Corp (群創) and AU Optronics Corp (友達光電), saw their TV panel shipments fall 2 percent and 18 percent respectively, capped by capacities. The Taipei-based researcher expected TV panel shipments to be flat in the current quarter from last quarter, while shipments are expected to decrease 10 percent next quarter on persistent weak demand and piling inventory from China.
CAL dividend approved
China Airlines (CAL, 華航), the nation’s biggest airliner, yesterday said that its board has approved a cash dividend totaling NT$1.66 billion, after selling the company’s 14 percent stake in Abacus International Pte Ltd. CAL last week reported net income of NT$1.12 billion, or NT$0.20 per share, for last quarter, lower than the NT$1.85 billion and NT$0.35 recorded in the first quarter. Earnings in the first half were tallied at NT$2.97 billion or NT$0.55 per share, improving markedly over losses of NT$0.72 per share recorded during the same period last year.
Pre-tax profits soar
Taiwan-listed companies, excluding financial holdings firms, reported an overall 18.43 percent average increase in pre-tax profits for the first half of 2015 thanks to good results in the semiconductor, electronics and plastics sectors, the Taiwan Stock Exchange Corp (TWSE) said on Monday. The companies’ pre-tax profits totaled a combined NT$902.4 billion (US$27.66 billion) in the first six months of 2015, compared with NT$762 billion a year earlier. Their January-June revenue grew by 0.98 percent year-on-year to NT$12.35 trillion, the TWSE said in a statement. Among the 785 companies listed in Taiwan, 596 reported profits in the first half of this year.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and