Sat, Apr 29, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

BANKING

Offshore units’ assets rise

The 62 offshore banking units (OBUs) of banks operating in Taiwan posted total assets of US$200.992 billion last month, up US$5.89 billion from the previous month, the central bank said in a statement yesterday. The OBUs of 38 local banks held US$177.366 billion in assets, while foreign banks’ 24 OBUs had US$23.626 billion in assets, the central bank said, without elaborating on the reason for the increase in total assets. At the end of last month, the primary uses of funds of all OBUs were discounts and loans, which amounted to US$79.429 billion, or 39.5 percent of total assets, the statement said. The main sources of funds were vostro accounts, head office and branches, which amounted to US$87.893 billion, or 43.7 percent of total liabilities, it said.

CHIPMAKERS

Winbond reports income fall

Memorychip maker Winbond Electronics Corp (華邦電子) yesterday reported its net income was NT$687 million (US$22.7 million) in the first quarter, down 17 percent from the previous quarter, with earnings per share of NT$0.19. On a consolidated basis, total sales in the quarter reached NT$10.425 billion, down 3 percent from the previous quarter, with gross margin of 29 percent. As far as its memory business is concerned, revenue in the first quarter from specialty DRAM accounted for 44 percent of its total sales, Winbond said in a press release. However, specialty DRAM revenue fell 11 percent from the previous quarter due to capacity allocation, the company said. To finance its technology migration plans, the company said it plans up to NT$17.4 billion in capital expenditure this year, up from NT$16.6 billion it announced in February.

CHIPMAKERS

Micron appoints new head

Micron Technology Inc on Thursday announced that its board appointed Sanjay Mehrotra as president and chief executive officer, effective from May 8. Mehrotra is to succeed chief executive officer Mark Durcan and joins Micron at a time of increasing opportunity for memory and storage technologies and solutions as the key enablers for the next generation of computing architectures, the company said in a statement. Durcan is to serve as an adviser to the company until early August, the company said.

WATER TREATMENT

FWEE approves dividend

Forest Water Environment Engineering Ltd (FWEE, 山林水工程), which provides engineering services for industrial water treatment, on Thursday said its board approved a cash dividend of NT$3.2 per share, compared with last year’s NT$3. The proposed dividend translated into a payout ratio of 81 percent and a yield of 4.86 percent based on the stock’s closing price of NT$65.8 in Taipei trading on Thursday. The company, a subsidiary of Rich Development Inc (力麒建設), reported net profit last year increased 42 percent to NT$488 million, with sales expanding 45.8 percent to NT$2.27 billion, buoyed by increasing demand in China’s sewage treatment market.

SHIPPING

Yang Ming to open offices

Yang Ming Marine Transport Corp (陽明海運) yesterday said it has established a wholly owned subsidiary in the Philippines, Yang Ming Shipping Philippines Inc, as the company expects rapid expansion to continue in the Southeast Asian market. Yang Ming said that the new company will begin to provide services on Monday next week at offices in Manila, Cebu and Davao, with Eddie Yi (易德華) its first managing director.

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