Mon, Feb 05, 2018 - Page 15 News List

Taiwan Business Quick Take

Staff writer

CONSTRUCTION

TCC starts share buyback

Taiwan Cement Corp (TCC, 台灣水泥) on Friday said it would implement a share buyback program today, in which it plans to repurchase 6 million common shares at NT$26.53 to NT$56.63 per share to reward employees. The size of the purchase represents 0.14 percent of the company’s outstanding shares, it said, adding that the buyback is to continue until April 3. The company’s shares closed at NT$37.9 on Friday in Taipei trading.

ELECTRONICS

Wistron expands in India

Contract electronics maker Wistron Corp (緯創) on Friday said its board has approved investments of US$175 million in its subsidiary Wistron InfoComm Manufacturing (Kunshan) Co (緯新資通崑山) and US$55 million in Wistron InfoComm Manufacturing (India) Co to expand its capacity for assembling smart devices. The Central News Agency has reported that Wistron plans to build a new plant in Bengaluru, India, to manufacturer handsets and other electronics products.

APPLIANCES

Sampo to offer 3% to 5% raise

Sampo Corp (聲寶) on Friday said it plans to raise employee wages by between 3 percent and 5 percent in the second half of this year, as the home appliance maker is confident in its business performance this year. Revenue this year could increase by 10 percent from NT$8.66 billion (US$296.22 million) last year, Sampo chairman Felix Chen (陳盛沺) said at the company’s annual banquet for employees. Earnings growth this year could outpace revenue growth, he added, without elaborating. The company has also decided to offer employees bonuses that are equivalent to two months’ salary, he said.

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