Tue, Nov 14, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

PHARMACEUTICALS

Drug enters phase 2 trial

ASLAN Pharmaceuticals (亞獅康) yesterday announced the approval of its investigational new drug application by the Singaporean Health Sciences Authority to initiate a phase 2 study of ASLAN003, a treatment for acute myeloid leukemia. ASLAN003 is small-molecule inhibitor of the human dihydroorotate dehydrogenase enzyme. Acute myeloid leukemia is a rapidly progressing blood cancer that is characterized by the uncontrolled proliferation of immature blast cells in bone marrow. The phase 2 trial is a dose optimization study and the primary outcome is to determine the optimum monotherapy dose of ASLAN003.

ENERGY

Gintech back in the black

Solar cell manufacturer Gintech Energy Corp (昱晶能源) swung into a net profit of NT$2 million (US$66,247) last quarter due to improving demand and rising prices, snapping four quarters of losses. Gintech lost NT$339 million in the second quarter and NT$2.56 billion in the third quarter last year, according to a company statement released on Friday last week. Gross margin rose to 4.2 percent last quarter, from minus-5.6 percent the previous quarter and minus-104.9 percent a year earlier, the statement showed. Gintech attributed the improvement to price increases and a higher factory utilization rate.

STOCK MARKET

TAIEX closes below 10,700

The TAIEX closed lower yesterday, falling below 10,700 points, as the weighted index fell below its monthly moving average of 10,757 for the third consecutive trading session. The main index closed down 48.75 points, or 0.45 percent, at the day’s low of 10,683.92, after hitting a high of 10,749.39. Turnover totaled NT$121.93 billion during the session. The market’s focus later this month would be trained on the US Federal Reserve’s monetary policy meeting, US tax reform proposals, the financial performance of the iPhone supply chain in the fourth quarter, and the third and fourth-quarter results of Taiwanese and US companies, analysts said. Foreign institutional investors were net sellers of NT$1.82 billion of shares on the main board yesterday, Taiwan Stock Exchange data showed.

CONVENTIONS

Kaohsiung to host ICCA

The International Congress and Convention Association (ICCA) has selected Kaohsiung as the host of its 2020 congress, beating other cities such as Japan’s Yokohama and Colombia’s Cartagena. “Kaohsiung told a compelling story of a city that is reinventing itself through the power of meetings, their team designed creative concepts that will help ICCA engage more effectively with Asia-Pacific-based associations, and they demonstrated great team cohesion and offered tremendous value for money. I have no doubt that 2020 will be a wonderful congress experience for our entire global community,” ICCA president Nina Freysen-Pretorius said at the association’s 56th congress in Prague, Czech Republic.

SERVICES

Slight overheating forecast

The nation’s service sector could have shown continued signs of slight overheating last month, the Commerce Development Research Institute (CDRI, 商業發展研究院) said last week when it released its report for September. Last month’s score could remain 105 points, unchanged from September, on the back of promotional campaigns by department stores and the Mid-Autumn Festival, the institute said. The report for last month is scheduled to be released early next month.

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