Tue, Sep 13, 2016 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

HOSPITALITY

FDC revenue rises 9.26%

Hotel and restaurant operator FDC International Hotels Corp (雲品國際) recorded NT$91.27 million (US$2.88 million) in revenue for last month, an increase of 9.26 percent from the same period last year, the company said in a statement. The operator of five-star hotel Fleur de Chine (日月潭雲品酒店) near Sun Moon Lake and buffet restaurant Giardino in New Taipei City’s Sinjhuang District (新莊) accumulated revenue of NT$859.62 million in the first eight months of this year, up by 9.39 percent from the same period last year, the statement said. The hospitality provider last month won regulatory approval for primary listing on the Taiwan Stock Exchange (TWSE).

CHIPMAKERS

ADATA books gain from sale

Memory module supplier ADATA Technology Co (威剛科技) yesterday said it would book a profit of NT$4.22 million by selling 8.23 million shares of local DRAM chipmaker Nanya Technology Corp (南亞科技). ADATA said it sold the shares at between NT$36.5 and NT$39.3 each, with proceeds totaling NT$310.29 million. After the transaction, the company retained a 0.22 percent stake in Nanya, according to a filing with the TWSE yesterday.

AUTOMOTIVE PARTS

Iron Force sees revenue rise

Automotive parts maker Iron Force Industrial Co Ltd (劍麟) reported revenue of NT$404 million for last month, up by 4.25 percent from the same period last year. In the first eight months of this year, aggregate sales soared 16.4 percent annually to NT$3 billion, as automakers began installing safety systems in new vehicles. The company is cautiously optimistic about the sales outlook for the third quarter thanks to anticipated robust demand for car safety parts, Iron Force said in a statement.

PHARMACEUTICALS

TLC599 trials to be assessed

Taiwan Liposome Co Ltd (台灣微脂體) yesterday announced that it has applied with the Food and Drug Administration to begin assessing the results of first and second-phase clinical trials of its new arthritis drug, TLC599. The company said that it completed the studies in June, and that it hopes to publish the outcomes in the near future. TLC599 encapsulates a corticosteroid in a lipid-based drug delivery system for the treatment of inflammation caused by arthritis. The delivery system is designed to provide immediate pain relief, as well as sustained release, for treatment periods of up to 12 weeks per injection.

SMARTPHONES

Largan shares extend losses

Shares of Largan Precision Co (大立光) yesterday morning extended losses from Saturday, after an Asian brokerage lowered its target price on the stock and urged investors to cut their holdings in the smartphone camera lens supplier, dealers said. The brokerage issued an “underperform” rating on Largan shares and cut its target price on the stock to NT$2,600, the lowest among foreign brokerages that track the firm. The target price indicated that the stock still has room to trend down by more than 20 percent. The brokerage said that a recent strong showing by Largan shares resulted from an upbeat mood about the adoption of dual camera lenses by international smartphone brands, adding that such positive leads had been factored into the stock’s price. “After the launch of Apple Inc’s iPhone 7 and iPhone 7 Plus, concerns over sales of the latest models have affected Taiwan’s Apple concept stocks, including Largan,” MasterLink Securities Corp (元富證券) analyst Tom Tang (湯忠謙) said.

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