Revenue reaches NT$233bn
The nation collected NT$233.9 billion (NT$7.365 billion) in tax revenue last month, an increase of 21.2 percent from a year earlier, mainly due to a surge in corporate income taxes, the Ministry of Finance said on Wednesday. Corporate income taxes reached NT$34.1 billion, jumping 86.4 percent from the same period last year as the local economy improved, the ministry said. Stock transaction taxes retreated 14 percent year-on-year to NT$5.4 billion as risk appetite remained soft, the ministry said. For the first nine months of the year, tax revenue totaled NT$1.7 trillion, a 5.8 percent increase from a year earlier and exceeding the budget target by 6.6 percent, the ministry said.
THSRC issue price set
Taiwan High Speed Rail Corp (THSRC, 台灣高鐵) has settled on an issue price for its Oct. 27 main board listing of NT$15.13, underwriter Fubon Securities Co (富邦證券) said yesterday. The price was determined after the underwriter held an auction for the 16 million common shares to be issued in the listing. The final issuance price was much higher than the NT$11.5 per share tentatively set in a prospectus filing to the Taiwan Stock Exchange on Monday last week. The auction ran from Thursday last week to Tuesday and had a floor price of NT$11.64, Fubon Securities said. As the issue price is higher than NT$11.5, THSRC is expected to generate a higher working capital.
Tai Tong sales increase
Tai Tong Food & Beverage Group (瓦城泰統集團), the operator of three restaurant chains with 95 outlets in Taiwan, posted NT$288.7 million in sales for last month, up 14.5 percent from a year earlier. Aggregate sales in the first nine months of this year totaled NT$2.95 billion, a 13.2 percent increase from the same period last year, Tai Tong said in a statement. The company is upbeat about sales in the fourth quarter, supported by the traditional peak season, the statement said.
Yahoo, CTBC launch Yapee
Yahoo Taiwan Holding Ltd (雅虎) and CTBC Bank Co (中國信託銀行) yesterday jointly launched the Yapee (易付) third-party payment service that aims to achieve a comprehensive online-to-offline shopping experience. The service is secured by CTBC Bank’s enterprise-class authentication, as well as real-name registration of users, the companies said. Transactions are also backed by an escrow service, where funds are held by Yapee to minimize disputes between sellers and buyers. In addition, the service accepts payments from a variety of sources, including credit cards, bank accounts, as well as cash payments to convenience store cashiers, they said.
Vive sales reach 140,000
More than 140,000 Vive virtual reality (VR) headsets have been sold worldwide since the product made its debut in March, HTC Corp (宏達電) chairwoman Cher Wang (王雪紅) told China’s leading VR platform 87870.com earlier this week. Wang’s remarks came after Wang Tsung-ching (汪叢青), head of HTC Vive China, said in August that sales of the devices had exceeded 100,000 at the time. Vive is one of HTC’s gambits to diversify from its core smartphone market in the hope of generating a new revenue stream to turn around its loss-making business.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to