Cub sees net income drop
Cub Elecparts Inc (為升), which makes electric switches and electric sensors for cars, yesterday reported that net income last year decreased 9.3 percent year-on-year to NT$1.01 billion (US$34.45 million), with earnings per share (EPS) of NT$10, down from NT$12.14 the previous year. Gross margin also dropped by 1.04 percentage points to 53.25 percent, while revenue rose 3 percent to NT$3.52 billion, the company said. The company said its board has approved the distribution of a cash dividend of NT$8.8 per common share, with a payout ratio of 88 percent.
Holtek plans NT$4.1 payout
Holtek Semiconductor Inc (盛群半導體), the nation’s largest designer of microcontroller units for consumer electronics, yesterday said its board has approved a cash dividend of NT$4.1 per common share, representing a payout ratio of 100 percent based on last year’s EPS of NT$4.1. Based on yesterday’s closing share price of NT$81.7, Holtek’s proposed cash dividend translates into a dividend yield of 5.02 percent. The company is to hold an annual general meeting on May 28 in Hsinchu Science Park (新竹科學園區), where shareholders are to vote on the dividend proposal.
Tah Tong banks on land sale
Tah Tong Textile Co Ltd (大東紡織), which makes yarns and fabrics, expects to book a real-estate disposal gain of NT$1.1 billion in the second quarter of this year at the earliest from the sale of a plot of land in Taichung, the company said yesterday in a filing with the Taiwan Stock Exchange. Tah Tong said it would sell the land for NT$1.9 billion to a subsidiary of Yi Jinn Industrial Co Ltd (宜進), another Taiwanese yarn maker. The gain from the sale would be used to replenish operating capital and repay bank debts, it said. Tah Tong chairman Steven Chen (陳修忠) said the sale, coupled with expanded production at the company’s Vietnamese plant, would help it swing into profit this year.
Evergreen goes paperless
Evergreen Marine Corp (長榮海運), Taiwan’s largest container shipping company, yesterday announced that it has upgraded to a paperless bill of lading and dispatch documentation system by partnering with London-headquartered software solutions provider Bolero International Ltd. The system enhances connectivity for exporters and importers with banks, insurers, regulators, customs and port authorities, Evergreen said in a statement. It is expected to speed up cash flow and processing times, while helping to avoid loss, fraudulent copying and errors that are associated with paper documents, as well as provide encrypted data transmission, it said.
Marketech decides dividend
Marketech International Corp (帆宣系統科技), which provides facility engineering and equipment to semiconductor and flat-panel manufacturers, on Wednesday said its board has approved a cash dividend of NT$2.5, based on last year’s EPS of NT$3.77 — its highest in 13 years. Citing institutional investors’ estimates, the Chinese-language Commercial Times yesterday said Marketech’s EPS might top NT$4 and reach a high of NT$4.5 this year, as the firm’s orders on hand for this year have exceeded NT$16 billion and it has tapped into related equipment supply chains with organic LED panels and ultraviolet lithography systems.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion