Wed, Jun 28, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

ELECTRONICS

HTC shares get boost

Shares of Taiwan-based smartphone brand HTC Corp (宏達電) were boosted yesterday by renewed hopes for its virtual-reality (VR) business after the company threw an event in Shanghai to demonstrate its efforts to cultivate VR start-ups, dealers said. HTC shares, which have lagged behind other high-tech stocks, as well as the broader market, were also pushed higher by bargain hunters, they said. HTC shares rose 4.6 percent to close at NT$72.8 with 30.06 million shares changing hands on the Taiwan Stock Exchange, where the weighted index closed down 0.02 percent at 10,512.06. “After the weighted index hit a new 27-year high to breach the 10,500-point mark yesterday, the market fell into consolidation mode today,” Hua Nan Securities Co (華南永昌證券) analyst Kevin Su (蘇俊宏) said yesterday. “So, some investors scrambled to park their funds in individual stocks that had positive leads, like HTC.”

ENTERTAINMENT

IGS-Aristocrat deal ended

International Games System Co (IGS, 鈊象電子), the nation’s largest arcade machines and online game developer, yesterday said that it and Aristocrat Leisure Ltd, at Aristocrat’s request, have terminated an agreement to codevelop slot machines, due to fast-changing industry dynamics that prompted the Australian company to alter its strategy. Aristocrat’s authorized games are to be removed from a gaming platform on the IGS Web site at the end of next month, IGS said in a filing with the Taiwan Stock Exchange. IGS is to rename the gaming platform and supply IGS-developed games on the platform to maintain its service, the Taiwanese company said. The terminated collaboration with Aristocrat is expected to reduce IGS’ revenue by NT$28 million (US922,844), or operating income of NT$7 million, on a monthly basis in the second half of this year, IGS said.

SECURITIES

Taishin merger approved

The Financial Supervisory Commission yesterday approved the merger of Taishin Securities Co (台新證券) and Ta Chong Securities Co Ltd (大眾證券). Taishin Securities, the acquiring company, is to absorb Ta Chong Securities, which will cease to exist after the deal is completed. The deal would help Taishin Securities raise its market share from 0.59 percent to 1.29 percent, while its number of service locations would rise from 14 to 17, the commission said.

MACHINERY

Hiwin laments work policy

Hiwin Technologies Co (上銀科技) chairman Eric Chuo (卓永財) yesterday criticized the government’s “one fixed day off, one flexible day off” policy, saying that it significantly increases enterprises’ operational costs. Citing the regulations, Chuo said that the machinery maker has to pay employees three times their daily salary if they are to work on Sundays and offer them days off for working on the fixed day off. “There’s no such policy elsewhere in the world. This [policy] is not feasible,” Chuo told reporters after the company’s annual general meeting in Taichung.

RESTAURANTS

Hai Di Lao move approved

The Investment Commission yesterday approved Hai Di Lao Holdings Pte Ltd (海底撈), a popular Chinese hotpot restaurant chain operator, to invest NT$115 million in expanding its operational scope in Taiwan. The commission said Hai Di Lao plans to utilize the fund to add a new restaurant in Hsinchu, which would be the firm’s third in the nation.

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