Sat, Feb 06, 2016 - Page 14 News List

Taiwan Business Briefs

Staff writer

Forex reserves fall in January

Foreign exchange reserves totaled US$425.98 billion as of the end of last month, a decrease of US$53 million from a month earlier, the central bank said yesterday.

The main factor behind the decrease was that returns from the management of reserve assets were offset by the depreciation of the euro and other reserve currencies against the US dollar, the bank said in a statement.

Meanwhile, the market value of securities, bonds and New Taiwan dollar deposits held by foreign investors reached US$242.9 billion at the end of last month, accounting for 57 percent of the foreign exchange reserves, the bank said.

MediaTek sales up 22.11%

Handset chip designer MediaTek Inc (聯發科) yesterday reported better-than-expected sales of NT$21.326 billion (US$636.22 million) last month, up by 22.11 percent from a year earlier and 15.15 percent from the previous month. The company on Monday provided weaker-than-expected sales guidance for this quarter, expecting sales to contract by 7 percent to 15 percent quarterly to between NT$52.5 billion and NT$57.4 billion due to fewer working days caused by the Lunar New Year holiday.

Hota sees record-high sales

Hota Industrial Manufacturing Co (和大工業) yesterday said its consolidated sales last month were the highest monthly figures in the company’s history at NT$502.998 million.

The company, which makes gears and shafts for automobiles, counts BorgWarner Inc, Tesla Motors Inc, Bombardier Recreational Products and Punch Powertrain NV among its major customers. Hota said last month’s sales were 16.45 percent higher than a year earlier and 4.08 percent more than the previous month.

Innolux, AUO sales drop

The nation’s two leading flat-panel makers reported mixed sales last month, dragged down by falling TV panel prices and a weaker NT dollar.

Innolux Corp (群創) yesterday said that consolidated sales decreased 41.5 percent year-on-year and 20.2 percent month-on-month to NT$21.1 billion, while AU Optronics Corp (AUO, 友達光電) reported that consolidated sales dropped 24.4 percent annually and 5.7 percent monthly to NT$24.29 billion last month.

Yuanta Securities Investment Consulting Co (元大投顧) forecast Innolux’s sales this quarter would fall 13.7 percent from last quarter and AUO would report a 7 percent quarterly decline.

ChipMOS repurchasing shares

ChipMOS Technologies Inc (南茂科技), a Hsinchu-based IC packaging and testing services provider, on Thursday said its board plans to repurchase 15 million shares on the open market, as it views current share prices as undervalued and a good investment opportunity.

The company said in a statement that it plans to buy back shares at or below NT$40 per share between yesterday and April 4, with a total purchase of up to NT$600 million.

ChipMOS shares closed at NT$31.8 on Wednesday on the Taiwan Stock Exchange.

ASE extends SPIL share offer

Advanced Semiconductor Engineering Inc (ASE, 日月光半導體), the world’s largest chip tester and packager, on Thursday said it would again extend the period of a tender offer to purchase up to 770 million shares of Siliconware Precision Industries Co (SPIL, 矽品精密) by another month from Feb. 16 to March 14.

ASE, which already owns about an about 25 percent stake in SPIL, said in a statement that the terms and conditions of the offer remain unchanged. ASE in December last year offered to buy 770 million shares, or a 24.7 percent stake in SPIL, at NT$55 per share.

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