Sat, Jul 23, 2016 - Page 11 News List

Taiwan Business Quick Take

Staff writer

ENTERTAINMENT

IC approves XPEC stake sale

The Investment Commission (IC) yesterday approved Bai Chi Gan Tou Digital Entertainment Co’s (百尺竿頭數位娛樂) acquisition of a major stake in local game developer XPEC Entertainment Inc (樂陞科技) for NT$4.86 billion (US$151.54 million). Bai Chi, which acquired a 5.29 percent stake in XPEC via a private placement in November last year, last month offered to buy an additional 38 million shares, or an about 25.71 percent stake, in XPEC at NT$128 per share. After the transaction, Bai Chi is to own a 31.1 percent stake in XPEC. The commission also approved Hon Hai Precision Industry Co’s (鴻海精密) plan to invest US$1.5 billion in China to produce mobile phones and handset components.

STEELMAKERS

US hikes tariffs for five firms

The US Department of Commerce has raised an anti-dumping tariff against five Taiwanese exporters who ship corrosion-resistant steel products to the US, citing a correction to a ministerial error in an earlier ruling. In a statement released by the Ministry of Economic Affairs on Thursday, the ministry said that the department corrected a previous decision made in May by raising the financial burden on five Taiwanese steel exporters from 3.77 percent to 10.34 percent. The five firms include Yieh Phui Enterprise Co (燁輝), Prosperity Tieh Enterprise Co (裕鐵) and Synn Industrial Co (欣建), the ministry said.

FOOD

Namchow sees profit rise

Namchow Chemical Industrial Co (南僑化學工業), a leading cooking oil manufacturer, yesterday reported net profit of NT$124 million for last month, according to a filing with the Taiwan Stock Exchange. The firm’s cumulative profit in the first half of this year rose 5.9 percent annually to a record high of NT$631 million, with earnings per share rising from last year’s NT$2.4 to NT$2.54. The firm attributed the strong profit growth this year to higher sales, mainly in China.

PHARMACEUTICALS

No liabilities in suit: TWi

TWi Pharmaceuticals Inc (安成國際藥業) yesterday said that it is not exposed to liabilities from a patent infringement lawsuit initiated by Allergan PLC, as the product involved in the case has not received commercial approval from US health regulators. The lawsuit came as TWi was seeking the US Food and Drug Administration’s approval to manufacture a generic of Retasis, an immunosuppressant drug widely used in organ transplantation to prevent rejection, TWi said in a filing with the Taiwan Stock Exchange. TWi was seeking a judgement of non-infringement of patented drugs listed in the agency’s Approved Drug Products with Therapeutic Equivalence Evaluations, commonly known as the Orange Book.

SEMICONDUCTORS

Book-to-bill ratio falls to 1

The book-to-bill ratio for North America-based semiconductor equipment manufacturers decreased from 1.09 in May to 1 last month, statistics released by Semiconductor Equipment and Materials International (SEMI) showed on Thursday. A ratio of 1 means that US$100 worth of orders were received for every US$100 of products billed in the month. It was the seventh consecutive month that the ratio stood at or above 1 percent, which implies a more optimistic outlook. “Although order activity slowed for the most recent month, billings activity for equipment companies based in North America are at their highest level since February 2011,” SEMI president and CEO Denny McGuirk said in a statement.

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