Fri, Jul 21, 2017 - Page 11 News List

Taiwan Buisness Quick Take

Staff writer, with CNA

AUTOMAKERS

Tainan supercharger opened

Electric automaker Tesla Inc yesterday launched its second supercharger station in the nation at Chimei Museum (奇美博物館) in Tainan. Compared with its usual charging stations, superchargers are set up in strategic locations and allow drivers to replenish batteries in minutes during long-distance road trips, Tesla said in a statement. The US company — which has more than 80 charging stations nationwide — said another supercharger is expected to begin operations in Taichung next week. Tesla said it is planning to install more destination charging stations at department stores and theme parks across the nation this year, but did not elaborate.

BANKING

King’s Town reports theft

King’s Town Bank (京城銀行), a medium-sized bank based in Tainan, yesterday said that it has alerted regulators and authorities that one of its financial planners has been misappropriating clients’ funds for as long as a decade, resulting in NT$26.5 million (US$870,079) in losses for about 20 clients. The Financial Supervisory Commission said that the lender could face penalties for lapses in internal controls. The theft was discovered on Thursday last week and a report to the commission was made the following day, the commission said. In most such cases, local banks have been ordered to reimburse theft-related losses, the commission said.

BANKING

Shangmao loan signed

Taiwan Business Bank (臺灣中小企銀) yesterday signed a NT$1.05 billion syndicated loan with Kaohsiung-based Shangmao Enterprise Co (商茂企業) to allow the firm more financial leeway to carry out plans to help young people build careers. A new unit of E United Group (義聯集團), Shangmao is intended to join forces with I-Shou University to support career-building for students. With a focus on a “maker” culture and education, Shangmao said it would acquire up-to-date digital facilities and provide courses on patent applications, brand-building, sales channel establishment and business operations.

OFFICE EQUIPMENT

Aurora registers capital plan

Office appliance sales agent Aurora Group (震旦行) has completed the registration process for new paid-in capital following a capital reduction scheme, part of the company’s efforts to boost efficiency. The company said in a filing with the Taiwan Stock Exchange yesterday that it has reduced capital by NT$1.01 billion, or 30 percent, to boost return on equity. Aurora’s paid-in capital was NT$2.36 billion yesterday, with a net value of NT$31.49 per share, compared with NT$22.04 at the end of first quarter, the company said. Shareholders are to receive NT$3 per share due to the capital reduction, it said.

REAL ESTATE

Association tips increase

Transactions of residential and commercial properties could reach 260,000 this year, the Chinese Association of Real Estate Brokers said yesterday, citing strong sales momentum in the first half. Total transactions in the six special municipalities reached 20,351 units last month, up 15.7 percent month-on-month and 19.1 percent year-on-year, the association said, citing government statistics. In the first half, total transactions in the six special municipalities were 99,000 units, up 20.7 percent from a year earlier, it said. Transactions are forecast to be 255,000 to 270,000 units for the whole of this year, a 4 percent to 10 percent increase from last year.

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