Fri, Sep 25, 2015 - Page 14 News List

Taiwan Business Quick Take

Staff writer


M1B, M2 results released

Annual growth of the M1B money supply increased last month, but the M2 money supply dropped, mainly due to continued net foreign capital outflows, the central bank said yesterday. M1B, a narrow measure of the amount of money in circulation, last month rose 5.86 percent from a year earlier, while the broader M2 monetary measurement — which includes M1B, time deposits, foreign currency deposits and mutual funds — increased 6.01 percent, the bank said in its monthly report. That compares with annual growth rates of M1B and M2 at 5.66 percent and 6.06 percent respectively in July. For the first eight months, the average annual growth rates of M1B and M2 were 5.83 percent and 6.36 percent respectively, the central bank said.


AVY expects share sale profit

AVY Precision Technology Inc (應華精密) yesterday said it would gain NT$173.08 million (US$5.2 million) in profits by selling all the shares it owns in a local metal casing maker as part of the company’s efforts to boost its working capital. AVY Precision Technology plans to sell 1.63 million common shares of Casetek Holdings Ltd (鎧勝) for NT$290 million, or NT$149 per share, AVY said in a filing to the Taiwan Stock Exchange. The share sale is expected to contribute NT$1.74 to the company’s earnings per share, AVY said. The company in March sold 970,000 Casetek shares with a gain of NT$137.86 million.


Loan service unveiled

In a bid to participate in the push toward the digitization of financial services — known as “bank 3.0” — Citibank Taiwan Ltd (台灣花旗) yesterday unveiled a new Web-based service that is able to complete approval of credit loans of up to NT$2 million in about one hour. The bank said that its service is the fastest in the industry, with competitors taking from one to five days. The loan application can be conducted across all major computing platforms, including smartphones, in less than five minutes and its processing fee of NT$5,999 is among the most attractive in the industry, Citibank said.


TCI inks Japanese deal

TCI Co Ltd (大江生醫), which manufactures dietary supplements, functional beverages and skincare products, yesterday reached a strategic cooperative agreement with Japan’s Chori Co to jointly develop the biotechnological raw materials market in Japan. The Osaka-based Chori operates textiles, chemicals and machinery businesses. In the first eight months, TCI reported a revenue increase of 39.87 percent from a year earlier to NT$1.27 billion. Its net income was NT$97.35 million, or NT$162 per share, in the first half, up from NT$23.95 million, or NT$0.44 per share, the previous year.


Chlitina approves bonds

Chlitina Holding Ltd (麗豐), a China-based skincare product vendor, yesterday said its board approved a plan to issue unsecured corporate bonds worth NT$900 million, with the company planning to use the proceeds to purchase office buildings, develop e-commerce and online-to-offline platforms, and construct new logistics centers. Chlitina’s revenue rose 20 percent quarter-on-quarter to NT$992 million last quarter, thanks to higher-than-expected royalty income. With contributions from physical and online stores, revenue for this quarter is expected to rise above 10 percent from last quarter, analysts forecast.

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