Wistron sales drop 12%
Wistron Corp (緯創) reported sales of NT$47.53 billion (US$1.51 billion) for last month, down 12.07 percent from a month ago, but up 6.08 percent from July last year. The company attributed the monthly decline in revenues to fewer notebook computer shipments last month from June. Wistron’s accumulated revenues from January to July totaled NT$328.86 billion, falling 3.67 percent from a year ago, according to the company’s filing with the Taiwan Stock Exchange.
Asustek sees sales drop
Asustek Computer Inc (華碩) yesterday posted sales of NT$33.3 billion for last month, down 23.5 percent from June’s sales and 5.8 percent from July last year. The company said in a statement that the revenues of its smart devices dropped last month from a year ago because mass production of new-generation smartphones would start from this month, not last month. It said it expects sales this month and next month to pick up following the launches of its new smartphones and notebook computers. Asustek’s combined revenues rose by 0.43 percent annually to NT$255.93 billion in the first seven months of this year.
PPI down 1.7 percent
Producer prices fell at their slowest rate in nearly two years last month, the government said yesterday, a sign of improving conditions in the world’s second-largest economy. The producer price index (PPI), which measures the cost of goods at the factory gate, fell 1.7 percent year-on-year last month, the National Bureau of Statistics said, as a rebound in some commodity prices reduced downward pressures. Protracted declines in the PPI bode ill for industrial prospects and economic growth, as they put off customers, starving companies of business and funds. The country’s PPI has been negative for more than four years, but narrowing declines in the past three months have fueled hopes the nation — a key driver of the world economy — could be reaching the bottom of a painful slowdown. The improvement in PPI “should benefit the corporate sector’s profitability,” researchers with ANZ said in a note.
Record inflow to Asia
Asian shares yesterday stood atop one-year peaks as investors’ desperate search for yield drove a record inflow into emerging-market funds, while the British pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts at Bank of America Merrill Lynch said the search for yield had led to the largest five-week inflow on record to emerging market debt funds and the longest inflow streak to equity funds in two years. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1 percent, having already risen for three sessions in a row. Japan’s Nikkei was also attempting a fourth session of gains with a tentative rise of 0.2 percent, while Shanghai stocks were flat. The major data out in Asia was Chinese inflation for last month and it caused few ripples by coming exactly as market forecast at 1.8 percent. The benign result merely confirmed there was plenty of scope for further policy easing if needed. The need for stimulus was clear in Chinese trade flows which disappointed last month amid slack demand both at home and abroad.
STEPPING UP: The firm has also asked employees to work in split shifts from this week and to halt all but essential overseas business travel from next month Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has implemented a remote work policy for employees not on production lines in an attempt to curb the spread of COVID-19, the world’s largest contract chipmaker said yesterday. This is the first time in the Hsinchu-based company’s history that it has launched a large-scale remote work policy, joining global technology companies, such as Apple Inc and Google, that encourage employees to work from home. The chipmaker has also asked employees to work in split shifts from this week, it said. As the number of virus infections continues to climb worldwide, TSMC has urged employees to halt unnecessary
A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside. As COVID-19 grips the world, it might just be the safest place to work right now. The teams belong to ASML Holding NV, which holds a de facto monopoly on the industry of
DBS Bank Ltd yesterday hacked its GDP growth forecast for Taiwan this year to 0.9 percent, down from its estimate of 2.3 percent two months earlier, in light of the COVID-19 pandemic and increasing financial market volatility. The bank’s latest forecast was even lower than London-based IHS Markit Ltd’s estimate of 1 percent, while other research institutes’ projections range from 1.6 percent to 2.6 percent. Taiwan’s economic momentum is being negatively affected by the pandemic, DBS said. The rapid spread of the disease from Asia to Europe and the US has dampened the bank’s previous expectation of a “V-shaped” global rebound in the
Manufacturers are on a mission to produce desperately needed medical ventilators for the COVID-19 pandemic, even if it means converting assembly lines now making auto parts. Along with a shortage of masks and gloves, the spread of COVID-19 to almost every corner of the globe has highlighted a great need for specialized machines that help keep severely afflicted patients alive. “As the global pandemic evolves, there is unprecedented demand for medical equipment, including ventilators,” GE Healthcare chief executive officer Kieran Murphy said. The group has hired more workers and is making ventilators around the clock. Swedish group Getinge AB is also ramping up output