TFCC chair quitting
Minister of Finance Chang Sheng-ford (張盛和) yesterday confirmed that Taipei Financial Center Corp (TFCC, 台北金融大樓) chairwoman Christina Sung (宋文琪) had expressed her intention to leave her post as soon as Dec. 6 due to personal reasons. Chang said the government is looking for a suitable candidate to take over management of Taipei 101. Candidates must be skilled in foreign languages, public relations and management, he said, adding that such a candidate is hard to find.
Yageo expects slowdown
Yageo Corp (國巨), the nation’s largest passive components manufacturer, yesterday said it expects demand this quarter to be affected by a seasonal slowdown. The company reported a 70 percent sequential increase in net income to NT$1.23 billion (US$37.7 million), or NT$1.86 per share, last quarter. Yageo attributed the rise to non-operating gains of NT$623 million — including an investment gain of NT$60 million, interest income of NT$53 million and foreign exchange gains of NT$218 million. Cumulative net income in the first three quarters of the year reached NT$2.89 billion, or earnings per share of NT$4.32, Yageo said.
X-Legend back in black
Online game publisher X-Legend Entertainment Co (傳奇網路) yesterday said it swung into profit last quarter, bolstered by robust sales of new products and better operating expense control. Net income was NT$48 million last quarter, or earnings per share of NT$0.43, the company said. That compares with a net loss per share of NT$0.51 in the second quarter. In the first 10 months of the year, revenue totaled N$97.61 billion, down 17 percent year-on-year, the company said.
St Shine makes forex gains
Contact lens supplier St Shine Optical Co (精華光學) on Tuesday reported a third-quarter profit of NT$471 million, up 41.7 percent year-on-year, due to better-than-expected foreign exchange gains of NT$130 million. Earnings per share were NT$9.35 last quarter, while gross margin recovered to 36.4 percent and operating margin increased to 27.5 percent on the back of a rising utilization rate and stronger order flow from Japan and Taiwan.Daiwa Capital Markets in a client note forecast that St Shine’s sales would grow 7.4 percent year-on-year this year, while net profit would drop 10.7 percent mainly due to a shrinking gross margin.
HTC sales improve slightly
HTC Corp (宏達電) yesterday reported sales of NT$8.95 billion (US$274.62 million) for last month, down 43.2 percent from last year’s NT$15.75 billion, but up 26.05 percent from NT$7.1 billion in the prior month, the company said in a filing with the Taiwan Stock Exchange. HTC on Friday last week said its sales and earnings for this quarter would show incremental improvement from last quarter, thanks to the launch of its latest flagship model and an ongoing financial restructuring.
Acer predicts subsidy boost
Acer Inc (宏碁) is optimistic that its smartphone sales in Taiwan would rise at least 25 percent to more than 100,000 units next year from this year’s 80,000, Acer Taiwan operations president Towny Huang (黃鐘鋒) said yesterday. The company’s smartphone business is expected to benefit from the government’s recent announcement of a subsidy for consumers upgrading from 2G phones to 4G smartphones. About 1 million people still use 2G phones in the nation, Huang said.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
Apple Inc’s decision to stop using Intel Corp processors in its Mac computers and switching to its own chips might benefit Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and boost Taiwan’s high-tech exports, Australia and New Zealand Banking Group (ANZ) said in a note on Tuesday. The US tech giant announced the “Apple silicon” initiative at its annual Worldwide Developers’ Conference, which started on Monday. The company said the first Mac powered by its own chips would debut by the end of this year and all product lines might shift to the new architecture in the next two years. TSMC is likely to
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not