Wed, Nov 15, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

CHIPMAKERS

TSMC board approves funds

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Apple Inc and Nvidia Inc as its major clients, yesterday said its board of directors approved capital appropriations of about US$4.28 billion for construction of fabs and to expand advanced packaging and specialty technology capacity. The budget is also to be used on conversion of logic capacity to specialty technology, as well as capital investment in the first quarter of next year and sustaining capital expenditure, it added. The board also approved a capital injection of up to US$2 billion to fully owned subsidiary TSMC Global Ltd to reduce foreign exchange hedging costs, the firm said.

SOLAR POWER

Neo Solar losses increase

Solar cell manufacturer Neo Solar Power Energy Corp (新日光能源) yesterday posted quarterly losses of NT$1.72 billion (US$57 million) for last quarter, widening from losses of NT$519 million in the second quarter. Neo Solar in a statement attributed the deeper losses to an impairment loss of NT$896 million and potential lawsuit costs. Operating losses last quarter expanded to NT$1.39 billion, compared with operating losses of NT$677 million a quarter earlier. In the first three quarters of this year, Neo Solar has lost a total of NT$3.55 billion. On an annual basis, the figure improved from losses of NT$1.85 billion in the third quarter of last year, while operating losses also narrowed from NT$1.27 billion a year earlier.

SHOEMAKERS

Pou Chen profit rises 2.1%

Pou Chen Corp (寶成工業), which makes footwear for global brands such as Nike Inc, yesterday reported that net profit rose 2.1 percent year-on-year from NT$8.9 billion to NT$9.08 billion in the first three quarters of the year, backed by stable growth in its core shoemaking business. Earnings per share improved to NT$3.08, compared with NT$3.02 a year earlier, the firm said in a statement. Cumulative revenue over the period edged up 0.5 percent from NT$204.95 billion to NT$206.01 billion on an annual basis. Shoemaking contributed 70 percent of the firm’s overall revenue, while the shoe retailing sector made up nearly 30 percent, company data showed. Pou Chen shares yesterday fell 1.36 percent to close at NT$36.3 in Taipei trading before the release of the results.

AVIATION

CAL, Nordam set up venture

China Airlines Ltd (CAL, 中華航空) yesterday announced the establishment of a Taiwan-based joint venture with Nordam Group Inc. CAL is to hold a 49 percent stake in Nordam Asia Ltd, while its US-based partner is to retain a controlling stake in the venture. The new company is to operate Nordam Group’s sole commercial maintenance, repair and overhaul facility in Asia. CAL chairman Ho Nuan-hsuan (何煖軒) said that the plant would improve the carrier’s ability to service its own fleet and aircraft composite material parts, as well as elevate Taiwan’s aerospace sector.

INNOVATION

Technologies win awards

Two technologies developed by the Industrial Technology Research Institute have won CES Innovation Awards and are to be showcased at the trade show in Las Vegas from Jan. 9 to Jan. 12 next year, the institute said in a statement on Monday. The award-winning technologies are an intelligent vision system for companion robots in the “Robotics and Drones” category and a handheld pesticide residue detector in the “Home Appliances” category,the institute said.

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