Fri, Apr 07, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

ELECTRONICS

HTC boosted by U sales

HTC Corp (宏達電) yesterday reported consolidated revenue of NT$5.2 billion (US$170.16 million) for last month, a 25.41 percent increase year-on-year and 11.58 percent month-on-month due to rising demand for its new flagship U smartphones. The U series, which are priced up to NT$28,900 each, debuted in Europe, the Middle East and China last month. In the first quarter of the year, HTC’s revenue totaled NT$14.53 billion, down 1.96 percent from NT$14.82 billion in the same period last year, a filing with the Taiwan Stock Exchange said.

ELECTRONICS

Lite-On posts higher revenue

Electronic components maker Lite-On Technology Corp (光寶科技) yesterday posted consolidated revenue of NT$19.1 billion for last month, up 19 percent month-on-month and 4 percent year-on-year. Optoelectronics, which contributed 26 percent share of the firm’s total sales, posted annual growth of about 20 percent last month, while information technology accounted for 52 percent of its sales, annual growth of more than 10 percent, Lite-On said in a statement. Thanks to stable demand from its core clients, the firm’s cumulative sales in the first three months of the year were NT$51.35 billion, a 3 percent year-on-year increase, it said.

BROKERAGES

Outlook for firms stable

The outlook for the nation’s securities firms remains stable this year, underpinned by good capital buffers, adequate risk management and ample market liquidity, Taiwan Ratings Corp (中華信評) said in a report yesterday. “The creditworthiness of Taiwan securities firms should remain stable this year, despite challenging operating conditions,” Taiwan Ratings credit rating analyst Eunice Fan (范維華) said in the report. “These include sluggish equity market turnover, global capital market volatility and moderate economic growth in Taiwan.” Earnings at securities firms are likely to remain closely tied to the nation’s volatile equity market and remain at the low end of the range recorded over the past few years, Taiwan Ratings said. Securities firms saw their profits decline by about 25 percent last year after a 16 percent fall in 2015.

FOREIGN EXCHANGE

Reserves fall US$135m

The central bank’s foreign-exchange reserves stood at US$437.53 billion last month, a decrease of US$135 million month-on-month, the bank said in a statement yesterday. The central bank said the decline came as an increase in foreign assets held by domestic investors offset returns from its management of the reserves. Last month, the New Taiwan dollar appreciated by 1.04 percent against the greenback and by 6.4 percent in the first quarter, central bank data showed.

SERVICES

Growth is stable: survey

The services sector showed a stable growth in February, with an index gauging industry sentiment declining moderately from the previous month, according to a survey conducted by the Commerce Development Research Institute (商業發展研究院). The survey showed that the index fell to 103, down two points from January, the Taipei-based think tank said. The index was likely to edge down again last month, when Taiwan entered the traditional low season for tourists and exports, but the sentiment might improve this month as the four-day Tomb Sweeping Day holiday could offer a much-needed boost to the tourism and retail industries, the institute said.

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