Thu, Mar 24, 2016 - Page 14 News List

Taiwan Business Quick Take

Staff writer

LIFE INSURERS

Firm credit quality expected

Taiwan’s major life insurers are likely to maintain stable credit quality over the next two years, Taiwan Ratings Corp (中華信評) said in a report yesterday. “Taiwan’s major life insurers share commonalities in terms of strong local market focus, stable market share and good control over distribution channels, but there are also differences in terms of market ranking, operating scale and the size of their established franchise,” said Patty Wang (王珮齡), an analyst at Taiwan Ratings, a subsidiary of Standard & Poor’s.

NETWORKING

Accton profit climbs 81.24%

Accton Technology Corp (智邦科技), a local maker of computer networking equipment such as routers, yesterday reported consolidated revenue of NT$24.74 billion (US$758.31 million) for last year, up 8.28 percent year-on-year, with net profit increasing 81.24 percent to NT$1.17 billion, or NT$2.19 per share. By product, network switches accounted for 62 percent of the company’s sales last quarter, carrier access solutions made up 20 percent, wireless local area networks 7 percent, broadband and gateway devices 2 percent and others 9 percent.

CHIPMAKERS

Sitronix eyes growth

Handset panel driver IC designer Sitronix Technology Co (矽創) yesterday said earnings per share reached NT$7.05 last year, the highest in eight years, with annual revenue of NT$9.27 billion, up 22 percent from the previous year. The company expects revenue to grow by a double-digit percentage this year, driven by smartphone driver ICs. The company has decided to pay a record-high cash dividend of NT$5 per share.

HOTELS

FIHC proposes payout

Formosa International Hotels Corp (FIHC, 晶華國際酒店集團) yesterday announced it plans to distribute a cash dividend of NT$8.872 per share, which translates into a dividend yield of 4.18 percent based on yesterday’s share price of NT$212.5. Shareholders are scheduled to meet on June 15 to vote on the payout plan. The company reported earnings of NT$1.14 billion, or NT$8.96 per share, for last year.

MANUFACTURING

Hota to pay dividend

Hota Industrial Manufacturing Co (和大工業) yesterday said its board has decided to pay a cash dividend of NT$3.2 per share, after the company reported earnings per share of NT$4.62 for last year. Shareholders are to vote on the payout plan on June 23. Daiwa Capital Markets Inc forecast sales for this year would expand on a quarter-on-quarter basis thanks to solid orders from BorgWarner Inc, Tesla Motors Inc and Punch Powertrain NV. The company, which makes gears and shafts for automobiles, reported total sales of NT$5.299 billion last year.

ELECTRONICS

Gigabyte to see weak year

Gigabyte Technology Corp (技嘉科技) is expected to see weak growth in sales during the first half of the year, Yuanta Securities Investment Consulting Co (元大投顧) said yesterday, citing a lack of new product launches and still-weak PC demand. Gigabyte saw sales contract 12.7 percent last quarter from the previous quarter to NT$12.22 billion, with earnings per share of NT$0.51. For the whole of last year, sales totaled NT$50.83 billion, with earnings per share of NT$3.05. Yuanta said sales might pick up from the end of the third quarter, when Intel Corp launches its new KabyLake platform.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top