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.
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.
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.
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.
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.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for