Fri, Oct 14, 2016 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

TAXES

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.

STOCKS

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.

RESTAURANTS

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.

PAYMENT SERVICES

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.

ELECTRONICS

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.

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