EQUITIES
Shih vows re-energization
The Taiwan Stock Exchange’s (TWSE) newly appointed chairman, Shih Jun-ji (施俊吉), yesterday said he would work to re-energize local capital markets and further enhance the average price-to-earnings ratio of stocks listed on the main bourse and the over-the-counter exchange. Shih made the remarks during a handover ceremony in Taipei, where he received the official seal from his predecessor, Lee Sush-der (李述德). Shih, formerly a minister without portfolio, said one of his goals is to raise the stock market’s average daily turnover to between NT$100 billion and NT$120 billion (US$3.1 billion and US$3.7 billion). The TWSE also aims to expand ties with its foreign peers, he said.
EQUITIES
TWSE signs memorandum
The Taiwan Stock Exchange has signed a memorandum of understanding with Bursa Malaysia Bhd that commits the two sides to cooperating more closely. It was the second memorandum inked by the TWSE and Bursa Malaysia to strengthen their strategic partnership. The first was signed in 1999 and covered trading information exchanges.
EQUITIES
TPEX to focus on small firms
Former Securities and Futures Bureau deputy director-general Chang Li-chen (張麗真) yesterday took over as acting chairman and president of the Taipei Exchange (TPEX), which is in charge of the nation’s over-the-counter bourse and serves bond trading in Taiwan. Taking over from her predecessor, Lee Chi-hsien (李啟賢), Chang said at a handover ceremony that the TPEX would make efforts to become the cradle of small and medium-sized enterprises, the key driving force of the local bonds market and the advocate of innovative industries. The exchange would also develop platforms for creative products, Chang added.
E-COMMERCE
Momo.com to open facility
Momo.com Inc (富邦媒), an online, TV and catalogue shopping subsidiary of Taiwan Mobile Co (台灣大哥大), is to open a new automated logistics center in Taoyuan in the second quarter of next year, the firm said in a statement yesterday. This is to be the company’s first wholly owned logistics center, Momo.com said, adding that it would help reduce delivery times and warehouse rental costs. The company said it plans to expand its operational scope by investing in two more logistics centers in central and southern Taiwan in the next few years. In the first five months of the year, cumulative sales totaled NT$11.44 billion, up by 9.2 percent from the same period last year, company data showed.
ELECTRONICS
Sampo reports rise in sales
Home appliance maker Sampo Corp (聲寶) yesterday said sales for last month would total about NT$1.1 billion, up from NT$1.08 billion in May, due to the summer peak season for the home appliances and consumer electronics industry. Second-quarter sales are likely to be higher than the first quarter’s NT$2.65 billion and could increase from a year ago, Sampo spokesman Peter Chiang (江全田) told an investors’ conference in Taipei. As Hon Hai Precision Industry Co (鴻海精密) has acquired Japan’s Sharp Corp and is to be fully in charge of sales and marketing of Sharp products in Taiwan, Sampo plans to end its joint venture with the Japanese firm, Sharp Corp Taiwan (夏寶), if it gains shareholders’ approval in a meeting on Tuesday next week, Chiang said.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
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