Thu, Apr 13, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

MACHINE TOOLS

Shipments increase in Q1

Machine tool shipments increased 8.6 percent annually to US$691 million in the first quarter of this year, the Taiwan Machine Tool & Accessory Builders’ Association (台灣工具機暨零組件公會) said on Tuesday. Exports of metal-cutting tools grew 9.2 percent annually to US$571 million last quarter, while metal-forming machines increased 5.8 percent to US$120 million. The growth was primarily due to improving demand in China, which is the largest market for Taiwanese machine tool makers. Shipments to China soared 30 percent annually to US$235 million from a year earlier, constituting 34 percent of overall machine tool exports, it said. However, shipments to the US, Taiwan’s second-largest market, contracted 1.7 percent annually to US$73 million from January through last month, while exports to Turkey, the third-largest market, plunged 35.7 percent to US$26 million, association data showed.

REAL ESTATE

Huaku approves dividend

Property developer Huaku Development Co (華固建設) yesterday said that its board approved a cash dividend of NT$5 per common share. The distribution is based on net income of NT$2.41 billion (US$78.9 million). That translates into earnings per share of NT$8.73. The distribution represented a 7.22 percent dividend yield based on the stock’s closing price of NT$69.3 yesterday. The board also approved the distribution of NT$0.6 in stock dividends.

MANUFACTURERS

Paiho reports profit increase

Taiwan Paiho Ltd (台灣百和), which manufactures shoelaces and elastic tape, yesterday posted net profit of NT$405.07 million for the first quarter of the year, a 6.6 percent increase from same period last year. Earnings per share improved from NT$1.27 to NT$1.36, according to a filing with the Taiwan Stock Exchange. From January through last month, Paiho saw its revenue increase 11.6 percent to NT$2.78 billion, aided by improving demand from its international customers, including Adidas AG. In a bid to expand capacity, Paiho said it plans to start construction of a plant in Vietnam by the end of the second quarter.

OPTICS

Ginko expects better sales

Ginko International Co (金可國際), which makes contact lenses and lens-care solution, expects sales this year to grow by double-digits on the back of expansion into Japan, South Korea and Southeast Asia. The company, which generates more than 90 percent of its sales from China, has set a goal to have other markets contribute at least 15 percent of sales this year. Sales last quarter rose 1.8 percent annually to NT$1.57 billion, the company said, adding that production was running at full capacity to satisfy demand. Ginko shares yesterday gained 1.08 percent to close at NT$282.

LOGISTICS

T3EX optimistic over sales

T3EX Global Holdings Corp (台驊國際投資控股), a freight forwarder and logistics operator, yesterday gave an upbeat outlook on sales for this year amid a gradual global economic recovery. Increasing air and sea freight rates in the US and Europe over the past quarter contributed to a 9.63 percent annual increase in sales to NT$2.44 billion for the period, the company said, adding that global trade is expected to continue to improve this year. It said it would continue to expand its railway networks connecting its sea routes to improve transport services between Taiwan, China, Russia and Europe. T3EX shares yesterday closed flat at NT$20.9.

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