Sat, Mar 03, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer

BANKING

Banks’ profitability drops

Local banks last year posted declines in return on assets (ROA) and return on equity (ROE) for the third straight year, the Financial Supervisory Commission said on Thursday. Banks’ ROA and ROE came in at 0.67 percent and 8.97 percent respectively, falling by 0.01 and 0.26 percentage points from the previous year, as assets expansion outpaced growth in profitability, the commission said. A surge in penalties for infractions at home and abroad over the past three years also contributed to the decline, it said. ROA dropped to a six-year low, while ROE slid to an eight-year low, it added.

ENERGY

Swancor, FPG firms team up

Resin manufacturer and wind farm developer Swancor Holding Co (上緯) on Thursday said it has signed a memorandum of understanding (MOU) with two Formosa Plastics Group (FPG, 台塑集團) members to develop a local supply chain for offshore wind farms. Formosa Plastics Corp (台塑) and Formosa Heavy Industries Corp (台朔重工) are to produce materials used in turbine blades and underwater structure of wind turbines respectively for Swancor’s ongoing projects, the company said in a statement. Swancor has been working on its offshore energy project since 2013, with business partners including Sydney-headquartered Macquarie Capital Ltd and Denmark-based Orsted A/S.

MEDIA

VHQ plans to raise NT$740m

Singapore-based VHQ Media Holdings Ltd plans to raise capital of NT$740 million (US$25.26 million) through the issuance of 5.22 million new common shares. The company on Wednesday said that it has set the price at NT$141.78 per share and the proceeds would be used to purchase a 70 percent stake in Beijing Jupiter Cultural Media Inc (木星時代文化傳媒), a deal that is expected to be completed in the second quarter, it said in a filing with the Taiwan Stock Exchange. VHQ offers movie production, TV commercials visual design, special effects, 3D animation and post-production services.

RETAIL

Eslite announces dividends

Eslite Spectrum Corp (誠品生活), which operates bookstores, restaurants, hotels and commercial centers, on Tuesday said its board has approved a plan to distribute cash dividends of NT$7.56 per common share, representing a payout ratio of 84.85 percent based on last year’s earnings per share of NT$8.91. Revenue last year edged up 0.35 percent from the previous year to NT$4.28 billion, while net income rose 0.5 percent to NT$423 million. The company is to hold an annual general meeting on May 29 at the Eslite Xinyi Store in Taipei, where shareholders are to vote on the dividend proposal.

ELECTRONICS

Tripod profit jumps 22%

Printed circuit board supplier Tripod Technology Corp (健鼎科技) on Tuesday reported that net profit for last year rose 22.19 percent to NT$4.37 billion, or earnings per share of NT$8.31, the highest since 2010. Gross margin increased 0.26 percentage points to 18.23 percent and revenue expanded 22.19 percent to NT$45.82 billion. The company expects revenue this year to grow by 8 to 10 percent, buoyed by its solid state drive and “smart” speaker segments, as well as increased orders from top Chinese handset and automotive clients. Tripod operates plants in Taoyuan as well as in China’s Jiangsu and Hubei provinces.

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