Wed, Nov 22, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

SOLAR ENERGY

Solartech lays off 80 workers

Solar cell maker Solartech Energy Corp (昇陽光電) yesterday said it had laid off 80 employees after a production line was suspended due to damage from a fire last month. As the production line is expected to resume operations within the next six months, Solartech said it allocated workers affected by the suspension to its solar module factory. However, some employees refused to accept the reassignment, company spokesman Alex Wu (吳幸元) said, adding that those workers were dismissed. Solartech reported losses of NT$770 million (US$25.62 million) in the first three quarters of this year, widening from losses of NT$37.36 million in the same period last year. Gross losses totaled NT$385 million in the first three quarters, compared with gross profit of NT$195 million the previous year, company data showed.

BRANDS

Asustek tops ministry list

Asustek Computer Inc (華碩) was named the top Taiwanese global brand for the fifth consecutive year in a brand value estimation report released by the Ministry of Economic Affairs yesterday. The ministry cited Asustek’s aggressive expansion in the smartphone and gaming PC sectors, as well as persistent efforts to improve user experience, in ranking it top of 19 other Taiwanese brands. Asustek’s brand value totaled US$1.67 billion this year, while Internet security firm Trend Micro Inc (趨勢科技) ranked second with US$1.4 billion, the report showed. Want Want Group (旺旺集團) secured third place with a brand value of US$929 million, the report showed.

AUTOMAKERS

Tesla opens Hsinchu station

Tesla Inc yesterday launched the nation’s fifth supercharger station at Hsinchu Science Park as part of its efforts to improve its charging infrastructure in the nation. The Hsinchu station, which allows users to replenish their car’s batteries in minutes, would help Tesla further expand its charging network in northern Taiwan, the firm said in a statement. Tesla — which has 130 charging stations nationwide with more than 300 connectors — plans to install more charging stations in eastern Taiwan, it said earlier this year, without elaborating.

STEELMAKERS

China Steel profit rises 5%

China Steel Corp (中鋼), the nation’s only integrated steelmaker, yesterday posted pretax profit of NT$2.39 billion for last month, a 5 percent increase from NT$2.28 billion in September, mainly due to higher product prices. Sales last month fell 1 percent month-on-month from NT$29.81 billion to NT$29.6 billion, the company said in a statement, but added that operating profit grew 13 percent month-on-month from NT$2.01 billion to NT$2.26 billion. Cumulative revenue in the first 10 months was NT$286.37 billion, a 21 percent increase from NT$236.92 billion in the same period last year.

STOCK MARKET

TAIEX firms’ revenue up 5%

Companies included in the TAIEX last quarter saw their combined revenue rise 5.16 percent year-on-year to NT$19.65 trillion, with combined pretax earnings in that period gaining 15.03 percent from a year earlier to NT$1.52 trillion, Financial Supervisory Commission data released yesterday showed. The gains were led by the optoelectronics, plastics, memory and semiconductor sectors. Companies listed on the Taipei Exchange last quarter saw their aggregate sales rise 5.77 percent year-on-year to NT$1.46 trillion, with total pretax earnings gaining 18.15 percent from a year earlier to NT$10.35 billion.

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