Fri, Apr 01, 2016 - Page 14 News List

Taiwan Business Quick Take

Staff writer


Beitou Costco to open

US company Costco Wholesale Co will open a new store in Taipei’s Beitou District (北投) on Saturday next week, its second outlet in Taipei and the 12th in Taiwan. Richard Chang (張嗣漢), senior vice president of Costco Wholesale in Asia, said the new Beitou store, with NT$1 billion (US$31 million) in investment, is aimed at reducing the client overload at the company’s Neihu outlet, while targeting consumers living in the Tamsui (淡水), Zhuwei (竹圍) and Guandu (關渡) areas. Costco opened its first outlet in Taiwan in 1997.


Tech, medicine lead

Technology, medicine and consumer-related businesses will dominate the job market this year, while younger and female employees are increasingly filling middle and high-ranking executive positions for the past two years, an online recruitment agency 104 Job Bank (104人力銀行) said yesterday. Consumer-oriented establishments supply 27 percent of jobs, followed by technology firms at 25 percent and medicine and health at 18 percent, 104 vice president Jason Chin (晉麗明) told a media briefing. People aged between 30 and 39 filled 47.4 percent of executive positions last year, from 34.5 percent in 2013, the job bank said.


Asia Cement plans dividend

Asia Cement Corp (亞洲水泥) yesterday said its board plans to distribute a cash dividend of NT$1.1 per share based on last year’s earnings per share of NT$1.55, equivalent to a payout ratio of 70.97 percent. The Far Eastern Group (遠東集團) subsidiary reported net profit of NT$4.93 billion for last year, down 54.75 percent from NT$10.91 billion in 2014. Affected by weak downstream demand and persistent oversupply in China, Asia Cement’s consolidated revenue fell to NT$66.29 billion last year from NT$77.68 billion a year ago.


Wei Chuan loses NT$1.92bn

Wei Chuan Foods Corp (味全食品) yesterday said net loss increased from NT$304 million in 2014 to NT$1.91 billion last year, with losses per share expanding from NT$0.24 to NT$3.78, the worst since 2000. Total revenue last year fell almost 20 percent to NT$20.05 billion, as major products encountered a serious boycott by customers due to the cooking oil scandal at its former biggest shareholder, Ting Hsin International Group (頂新集團). The company said it would not pay a dividend.


FX Hotels loses NT$149m

FX Hotels Group Inc (富驛酒店集團), which manages more than 40 directly operated and franchise hotels in Taiwan and China, incurred losses of NT$149 million, or losses of NT$3.91 per share, for last year because the hotelier shut down unprofitable outlets and recognized bad debts from operation losses in China. In 2014, FX Hotels posted a record profit of NT$59.02 million, or NT$1.55 per share. The hotelier, which faced overdue accounts receivables at some Chinese corporate customers, closed two hotels in Tianjin and Beijing.


Shining net income plunges

Taichung-based Shining Building Business Co (鄉林建設) on Wednesday reported NT$225 million in net income for last year, or earnings of NT$0.25 per share. That was a significant slowdown from net profit of NT$1.1 billion in 2014, or NT$1.37 per share, a year earlier. The builder attributed the retreat to accounting rule changes under which developers cannot recognize income from projects until they are completed.

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