Hon Hai to have US HQ
Hon Hai Precision Industry Co (鴻海精密) said it is to establish a US headquarters in Milwaukee, Wisconsin, as part of a massive investment it is making in an electronics manufacturing plant in the southeast of the state. The company, known as Foxconn Technology Group (富士康) internationally, on Tuesday said it is to purchase a seven-story building in downtown Milwaukee that has a capacity of 650 people. The building, to be called Foxconn Place, is to house business incubators and start-up initiatives, as well as Foxconn staff. The company is building a plant in Racine County to make LCD panels for commercial and consumer uses.
Storage first for Changhua
Danish energy company Orsted A/S yesterday announced it is to set up an energy storage facility with capacity of 1 megawatt (MW) in Changhua County, the first MW-sized energy storage system based on lithium-ion battery technology in Taiwan. “I believe Taiwan has great potential to become a ‘green’ energy hub in Asia, just like Denmark’s position in Europe. The energy storage project in Changhua, also our first storage in Asia, will enhance grid efficiency and stability,” Orsted wind power chief executive officer Martin Neubert said in a news release. Through collaboration with the Changhua County Government, Taiwan Power Co (台電), the Industrial Technology Research Institute (工研院) and National Changhua University of Education, the project aims to encourage energy storage research and green energy development in Taiwan, the company said.
CHPT net income up 22%
Chunghwa Precision Test Technology Co (CHPT, 中華精測), the nation’s largest probe card supplier, yesterday reported that net income last year increased 22 percent year-on-year to NT$736 million (US$25.1 million), with earnings per share of NT$23.51, up from NT$20.04 the previous year and the highest in company history. Gross margin also grew to 55.4 percent from 52.2 percent, while revenue rose 20 percent to NT$3.11 billion, the company said. To reward shareholders, the Taoyuan-based company said its board has approved the distribution of a cash dividend of NT$10 per common share.
IGS income beats prediction
International Games System Co (IGS, 鈊象電子), the nation’s largest arcade and online game developer, on Tuesday reported better-than-expected net income of NT$877.78 million for last year, with earnings per share of NT$12.55. The results were down from 2016’s NT$890.37 million, or NT$12.78 per share, but gross margin improved from 80 percent to 85 percent. Revenue decreased 1.33 percent year-on-year to NT$3.28 billion, slightly affected by the ending of a deal with Aristocrat Leisure Ltd in June last year to codevelop slot machines.
Wafer shipments up 10%
Global silicon wafer shipments last year increased 10 percent from a year earlier in terms of surface area, the SEMI Silicon Manufacturers Group (SMG) said in a news release on Tuesday. Silicon wafers are the fundamental building material for semiconductors. According to SMG’s analysis, total silicon wafer area shipments were 11,810 million square inches last quarter, up from the 10,738 million square inches shipped the previous year. Worldwide silicon wafer revenue increased 21 percent to US$8.71 billion last year from US$7.21 billion in 2016, SMG’s analysis showed.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
BAD RAP: The exchange said Tatung had seriously breached shareholders’ rights and failed to give a satisfactory explanation of its board election dispute Tatung Co (大同) shares yesterday plunged by the maximum daily limit of 10 percent to NT$18.90, the lowest in three months, after the Taiwan Stock Exchange (TWSE) on Tuesday evening changed the company’s classification to a full-delivery stock effective tomorrow. The TWSE’s move follows the company’s failure to give a clear and satisfactory explanation of why it deprived dozens of shareholders of their voting rights during a board election at the annual shareholders’ meeting on Tuesday morning. Under the exchange’s regulations, investors are not allowed to engage in margin trading of a full-delivery stock, TWSE spokeswoman Rebecca Chen (陳麗卿) told
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate