Thu, Jul 21, 2016 - Page 11 News List

Taiwan Business Quick Take

Staff writer

STOCK EXCHANGE

TWSE to relax rules

Taiwan Stock Exchange Corp (TWSE, 台灣證券交易所) chairman Shih Jun-ji (施俊吉) yesterday said the bourse operator planned to ease rules on listings and trading to expand its market and help local companies. Speaking at a financial forum in Taipei organized by Bloomberg LP, the parent company of Bloomberg News, Shih said TWSE planned to boost ties with exchanges across the region, including those in Singapore, Japan and South Korea. Shih, formerly a minister without portfolio, on July 1 said that TWSE hopes to increase the main bourse’s average daily turnover to between NT$100 billion and NT$120 billion (US$3.12 billion and US$3.74 billion).

VIDEO GAMES

‘Pokemon’ rights sought

Local game developer Gamania Group (橘子集團) yesterday said it is interested in seeking to acquire the distribution rights to Pokemon Go from Nintendo Co Ltd for Taiwan’s market. Company chairman and chief executive officer Albert Liu (劉柏園) said Gamania is upbeat about the business potential of augmented reality (AR) technology, and Pokemon Go is a successful combination of AR technology with a popular cartoon brand. “We will not give up such a chance if we have the opportunity to acquire the rights for Taiwan’s market,” Liu told reporters on the sidelines of a company press event in Taipei. Liu declined to confirm if the company had initiated talks with Nintendo over the rights for the mobile game.

INSURANCE

Crash payouts calculated

The families of the 24 Chinese tourists who died in a chartered bus on Tuesday are expected to receive about NT$5.65 million in insurance payouts, the Financial Supervisory Commission said yesterday. Union Insurance Co (旺旺友聯) — the insurer that provided NT$1.5 million chartered bus coverage for each passenger — is expected to face payouts totaling about NT$141 million, the commission said. Affected insurers with payout obligations include South China Insurance Co (華南產險), which provided NT$2 million coverage per passenger for the travel agency who organized the tour group, and Fubon Insurance (富邦產險), which provided NT$2 million mandatory auto insurance for each Chinese visitor, the commission said.

LOGISTICS

Synnex plans Beijing center

Synnex Technology International Corp (聯強) yesterday announced plans to build a NT$720 million automated warehouse, logistics and office complex in China, the largest of its kind in the country. Construction is expected to be completed in December next year and increase the company’s storage capacity by threefold, while adding 6,000m2 of office space for the Greater Beijing area. Synnex built its first warehouse and logistics center in Shanghai in 2004, and has since built similar facilities across 20 first and second-tier cities in China.

TEXTILES

Eclat records profit slump

Eclat Textile Co (儒鴻), the fabrics and sports clothes supplier for Nike Inc, this week reported net profit of NT$354 million for May, down 13.7 percent annually. Its earnings per share also declined 15.9 percent to NT$1.32 from the previous year. The company expects inventory adjustments by its major customers to stabilize in the third quarter and sales for this quarter to outpace the prior two quarters. Overall, sales in the second half will be higher than NT$11.42 billion in the first half, the company said.

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