Wed, Feb 22, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA


Foreign bond issuance rises

New issues of foreign bonds have surged since last month in anticipation of upcoming regulatory changes aimed at limiting investment in the instrument, Financial Supervisory Commission data showed yesterday. The commission said that from the end of last month to the end of last week, new issues of 33 foreign bonds totaled US$11.61 billion, 47 percent greater than the US$7.89 billion from 22 new issues recorded in the same period last year. The commission had announced plans to limit life insurers buying bonds that are callable within five years, which have been snapping up foreign bonds ahead of the regulatory change, which is scheduled to take effect in April.


Prince sells Neihu building

Prince Housing & Development Corp (太子建設) yesterday sold an office building in Taipei’s Neihu District (內湖) for NT$2.6 billion (US$84.43 million), injecting confidence into the soft commercial property market. The buyer, CyberPower Systems Inc (碩天科技), plans to move its headquarters from Taipei’s Nangang District (南港) to Neihu, said Savills Taiwan Ltd (第一太平戴維斯), which brokered the deal. The building has 6,508 ping (21,514m2) of floor space, including parking, Savills said, adding that self-occupancy demand might continue to drive the market.


Taisugar to invest in biogas

State-run Taiwan Sugar Corp (Taisugar, 台糖) yesterday announced plans to produce electricity at 18 of its pig farms. The company said that it would install biogas power generation systems to make use of methane gas from swine manure, adding that it hopes to produce up to 2.12 megawatts (MW) of electricity by 2025 and contribute to the government’s goal of producing 30MW of biogas energy in the same period.


Kbro branches out to movies

Kbro Co (凱擘), the nation’s largest cable TV operator, yesterday announced that it has branched out into the movie theater business in Taiwan, China and Hong Kong. The firm has opened a new movie theater in Taichung, and has inked deals to build eight theaters in Hong Kong and Shenzhen, China, it said. Kbro is also eyeing the content market, and has outlined plans to invest in at least five feature films and three to four TV series per year. The company said it has begun collaborating with Netflix Inc on Chinese-language original content. In addition, a TV series produced by the company is to begin broadcasting in Taiwan next month, the company said, adding that plans for licensing abroad are under way.


Vanguard dividends rise

Vanguard International Semiconductor Corp (世界先進), which commands a 30 percent share of the global LCD panel controller chip market, yesterday said its board has approved a cash dividend of NT$3 per common share. The distribution is greater than the NT$2.6 per common share distributed by the chipmaker last year, setting an all-time high. It also translated into a dividend yield of 4.92 percent, compared with the stock’s closing price of NT$61 yesterday. The company’s board has also approved an initial investment of 1 million yuan (US$145,288) to establish a subsidiary in Shanghai to facilitate chip sales in China. The company is scheduled to hold an annual shareholders’ meeting on June 16 to approve the cash dividend distribution plan.

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