Wed, Jan 24, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

STOCKS

TAIEX gains on late trading

Shares closed moderately higher in Taipei yesterday as late-session buying helped the broader market recover from its doldrums caused by investors locking in profits from earlier in the session, dealers said. The main board closed at a new 28-year record, as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) continued its upward momentum amid optimism over the chipmaker’s operations for this year, they said. The TAIEX closed up 21.65 points, or 0.19 percent, at 11,253.11, after moving between 11,201.52 and 11,270.18, on turnover of NT$157.59 billion (US$5.36 billion). Yesterday’s closing level was the highest since March 21, 1990, when the TAIEX ended at 11,257.23 points.

EMPLOYMENT

Catcher to hold job fairs

Catcher Technology Co (可成科技), a metal casing supplier of Apple Inc’s iPhones and MacBooks, yesterday said it plans to hire more than 100 people in research and development (R&D), engineering and strategy planning in Taiwan to support its newly operational plant in Tainan. This is also a part of Catcher’s efforts to meet the rising demand from clients, the company said in a news release. Catcher is to host a series of recruitment events, such as seminars and workshops, in universities nationwide from this month, it said. The first event will take place on Saturday at the Tainan plant, Catcher said.

MANUFACTURING

GMTC picks chairman, board

Gloria Material Technology Corp (GMTC, 榮剛), the nation’s largest specialty alloys manufacturer, yesterday elected a new board of directors and chairman after an extraordinary shareholders’ meeting ousted former chairman Chen Hsing-shih (陳興時), putting an end to a high-profile boardroom dispute. Vice chairman Wang Chiung-fen (王炯棻), a lawyer, won the chairmanship, a victory for Taiwan Steel Group (台灣鋼鐵集團) in the proxy fight. The meeting drew a 90.89 percent attendance rate. The new board also elected a new management team and appointed Hsu Tse-dong (許澤東) as company president, company filings showed.

BANKING

FET, Taishin working on card

Far EasTone Telecommunications Co (FET, 遠傳電信), the nation’s No. 3 telecom, yesterday said that it is collaborating with Taishin International Bank (台新銀行) on a new credit card for clients to use to pay for their online purchases. The credit card will also double as a mobile ticket on mass transportation systems within the next few months, FET said. It said it is confident that the new credit card would attract 200,000 subscribers by the end of this year.

BANKING

First Commercial Bank fined

The Financial Supervisory Commission yesterday fined First Commercial Bank (第一銀行), the biggest subsidiary of state-run First Financial Holding Co (第一金控), for its failure to fully disclose its exposure to Ching Fu Shipbuilding Co (慶富造船). The commission said that the lender had neglected to disclose a NT$1.4 billion loan to an investment subsidiary of the shipbuilder, due to shortcomings in its internal control and auditing processes. First Commercial, which served as lead bank in a syndicated loan to Ching Fu Shipbuilding, was fined NT$10 million last month following the loan’s default.

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