Gemtek forecasts 40-60 split
Telecom equipment maker Gemtek Technology Co (正文) yesterday guided its full-year sales split to be 40-60 for the first and second halves of this year, as the company is shifting its focus on cloud-computing-related businesses. Consolidated sales for last year fell 0.87 percent to NT$17.53 billion (US$536.17 million) from a year earlier, with a net profit of NT$206 million, or NT$0.69 per share, Gemtek said. Apart from cloud-based solutions, wireless broadband products, long-term evolution-enabled items and equipment support for G-fast technology are expected to drive the company’s sales growth this year, Gemtek chairman Howard Chen (陳鴻文) said.
Mega chairman resigns
State-run Mega Financial Holding Co (兆豐金控) yesterday said that chairman Mckinney Tsai (蔡友才) has tendered his resignation and is to leave the post on Friday. Minister of Finance Chang Sheng-ford (張盛和) confirmed that Tsai had expressed his intention to leave the post about six months ago due to personal reasons, the Central News Agency reported. Chang said Mega Financial president Wu Hann-ching (吳漢卿) will take over management of the company until a new chairman is chosen by the incoming government after May 20.
Taiwan Fire & Marine fined
The Financial Supervisory Commission yesterday fined Taiwan Fire & Marine Insurance Co (台灣產物保險) NT$4.8 million for irregularities in the company’s internal control mechanisms. The commission also decided to suspend the insurer’s sales of fire insurance to commercial users for one month beginning on April 15.
KD to continue ‘green’ focus
Investment holding company KD Holding Corp (崑鼎) yesterday said it would continue focusing on environmental protection, green energy and renewable energy businesses this year, hoping its total sales would be higher than last year’s NT$4.08 billion. The company said it also plans to invest in overseas markets, including China, Malaysia and India. The company reported a net profit of NT$710 million for last year, up 4.6 percent year-on-year, with earnings per share of NT$10.84.
X-Legend sales down
Online game publisher X-Legend Entertainment Co (傳奇網路) yesterday reported a net profit of NT$30 million for last year, with earnings per share of NT$0.27, the lowest in five years. Annual sales for last year decreased 15.92 percent to NT$1.24 billion, due to flat sales of new products and declining contribution from royalties. The company’s board on Monday approved a plan to pay a cash dividend of NT$0.25 per share, which is to be subject to a shareholder approval on June 22.
Inotera plan approved
Shareholders of Inotera Memories Inc (華亞科技), a DRAM joint venture between Nanya Technology Corp (南亞科技) and Micron Technology Inc, yesterday approved plans to sell Nanya’s 24 percent holding in the company to Micron in a deal worth NT$132.5 billion. The transaction is expected to be completed in the middle of this year. Inotera will become a wholly owned subsidiary of Micron and will be delisted from the local stock market. Inotera’s board yesterday also approved a budget of NT$6.1 billion on developing 20-nanometer process technology.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased
The US$410 DeliSofter pot looks much like the rice cookers ubiquitous in Japanese households and it does prepare rice in 24 minutes. However, this invention of two Panasonic Corp engineers is designed to do more and help people with swallowing difficulties. The two women led the creation of a spin-off company, Gifmo Co, to sell the specialized steam cooker, which they say can turn fried chicken soft enough to be sliced with a potato chip. The machine works by first cutting into food with a series of blades and then subjecting it to extremely high pressure at a temperature of 120°C,