FOOD & BEVERAGE
Tai Tong sales expand
The Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), which operates four oriental cuisine chain restaurant brands, yesterday reported that its sales last month grew 9.63 percent sequentially and 17.76 percent annually to NT$276 million (US$8.41 million). Sales in the first 10 months of this year gained 18.45 percent to NT$2.88 billion. The group’s latest restaurant brand, Very Thai Noodles (大心新泰式麵食), opened three new stores in shopping centers in Taipei and Kaohsiung, with plans to open eight more before the end of this month. TTFB shares lost 0.42 percent to close at NT$236 in Taipei trading yesterday.
FOOD & BEVERAGE
Wowprime reports loss
Wowprime Corp (王品), the nation’s largest restaurant chain operator, yesterday reported its first-ever quarterly loss of NT$2.8 million for the July-to-September period, with sales last month tumbling 1.9 percent year-on-year to NT$1.28 billion. Aggregate sales in the first 10 months fell 1.3 percent annually to NT$14.17 billion. However, as sales rebounded 2.72 percent last month compared with September, suggesting that its operations have begun stabilizing, company chairman Park Chen (陳正輝) said that swings in the economic cycle are inevitable. Wowprime shares fell 6.27 percent to NT$172 in Taipei trading yesterday.
HTC’s US market share falls
HTC Corp’s (宏達電) share of the US smartphone market continued to fall in the third quarter prior to the launch of the company’s One A9 handset, according to a report published on Nov. 6 by market research firm comScore Inc. The report said that HTC’s US market share slid by 0.1 percentage points sequentially to 3.3 percent in the third quarter, maintaining its fifth-place ranking. The market share loss came ahead of an Oct. 20 launch of HTC’s One A9, which is the first non-Nexus smartphone powered by Google Inc’s Android 6.0 Marshmallow operating system.
Industry value to increase
The production value of Taiwan’s petrochemical industry is expected to increase by between 3.1 percent and 4.2 percent next year as oil prices stabilize, a government-backed research institute said yesterday. According to the Industrial Economic and Knowledge Center (IEK) of the Industrial Technology Research Institute, most research institutes believe oil prices are to stabilize and remain low next year. This would help profitability of the nation’s petrochemical companies, which use naphtha as a raw material, the IEK said. Demand for petrochemical products in China and other emerging markets, such as India and Vietnam, would support capacity utilization of Taiwan’s petrochemical industry, which would boost the sector, it added.
FamilyMart sales rise
Taiwan FamilyMart Co (全家便利商店) yesterday reported sales of NT$4.98 billion for last month, and that aggregate sales in the first 10 months of this year rose 2.68 percent annually to NT$48.41 billion. The nation’s second largest convenience store chain operator said that sales last month were driven by rising demand for microwavable meals and salad products, and that sales growth this month is expected to be driven by seasonal products, such as hot beverages and functional clothing for cooler weather. The chain said that, as of the end of last month, it operates 2,970 stores.
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
BAD RAP: The exchange said Tatung had seriously breached shareholders’ rights and failed to give a satisfactory explanation of its board election dispute Tatung Co (大同) shares yesterday plunged by the maximum daily limit of 10 percent to NT$18.90, the lowest in three months, after the Taiwan Stock Exchange (TWSE) on Tuesday evening changed the company’s classification to a full-delivery stock effective tomorrow. The TWSE’s move follows the company’s failure to give a clear and satisfactory explanation of why it deprived dozens of shareholders of their voting rights during a board election at the annual shareholders’ meeting on Tuesday morning. Under the exchange’s regulations, investors are not allowed to engage in margin trading of a full-delivery stock, TWSE spokeswoman Rebecca Chen (陳麗卿) told
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
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