Fri, Sep 15, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA


Microsoft names manager

Microsoft Corp yesterday said it has named Ken Sun (孫基康), former president of Schneider Electric Taiwan Co (施耐德), to serve as the general manager of its local branch with immediate effect. Sun is to oversee the company’s operations and strategies in Taiwan, Microsoft said in a statement. Microsoft vice president of the greater China region Davis Tsai (蔡恩全), who has served as the acting general manager at the Taiwan branch since the beginning of July, will assist Sun with the transition, Microsoft said.


No power price hike expected

Minister of Economic Affairs Shen Jong-chin (沈榮津) yesterday said that a planned pay raise at Taiwan Power Co (Taipower, 台電) is not expected to affect electricity rates next year, as the increase is estimated to account for a “very” small portion of Taipower’s operating costs. “It [the percentage] is as small as a peanut,” Shen said before a Ministry of Economic Affairs weekly meeting, without elaborating. Taipower said it has not yet started its administrative procedure for the pay raise.


Adata begins buyback

Adata Technology Co (威剛科技), the nation’s biggest memory module maker, yesterday began to buy back its own shares from the open market in a bid to protect shareholders’ interests. The company plans to purchase 6 million of its shares at between NT$54 and NT$113.6 per share, Adata said in a filing with the Taiwan Stock Exchange on Wednesday. The scheme is to run through Nov. 13 and the repurchased share will be distributed to employees, the firm said. Adata shares ended 1.94 percent higher at NT$78.7 in Taipei trading yesterday.


XPEC to discuss plans

Troubled game developer XPEC Entertainment Inc (樂陞科技) yesterday said it plans to hold an extraordinary general meeting on Nov. 29 to elect a new board of directors and discuss contingency plans for the company’s future development. XPEC is to be delisted from the over-the-counter bourse on Oct. 19, the Taipei Exchange said on Friday last week after the firm failed to elect a new board of directors and provided no workable measures to improve its financial condition.


IPhone orders soar

Preorders for two of the latest iPhone models have soared to almost 10,000 since Wednesday evening, Taiwan Mobile Co (台灣大哥大) said in a press release yesterday, with the orders split evenly between the iPhone 8 and the iPhone 8 Plus, and gold remaining the most popular color. Asia Pacific Telecom Co (亞太電信) has not disclosed how many orders it has received. The two iPhone 8 models are to be officially released in stores across Taiwan on Friday next week.


Revenue reaches NT$1.5tn

The government collected NT$1.5 trillion (US$49.82 billion) in tax revenue during the first eight months of the year, up 2.3 percent from the same period a year earlier, data released by the Ministry of Finance on Monday showed. Among the main sources of tax revenue were value-added taxes (NT$241.4 billion), corporate income taxes (NT$308.5 billion), personal income taxes (NT$387.0 billion), excise taxes (NT$117.6 billion), tobacco surcharges (NT$26.6 billion) and land value increment taxes (NT$61.5 billion).

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