Wed, Apr 04, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer


Taipower to issue bonds

Taiwan Power Co (Taipower, 台電) yesterday said its board has approved a proposal to raise NT$18 billion (US$617.54 million) through the issuance of corporate bonds to fund ongoing energy projects. Taipower said in a statement that it plans to use the proceeds from the bond sale to renovate power plants and improve infrastructure. The bonds, which include NT$2.4 billion in “green” bonds with a maturity of 10 years, are to be issued and traded from the middle of next month, the statement said. The state-run utility issued NT$8.3 billion of its first-ever green bonds in December last year.


Evergreen sets up subsidiary

Evergreen Marine Corp (長榮海運) yesterday announced that it has established a subsidiary in Cambodia to tap into the country’s rapid economic growth and rising shipping demand for imports and exports. The firm said that Evergreen Shipping Services (Cambodia) Co Ltd would help it strengthen its presence in the country. Evergreen Marine, which delivers cargo to and from Cambodia via transshipments in other ports in Asia, said that transport services to the country would be expanded this month. An additional two container ships with capacities for 1,618 twenty-foot-equivalent units traveling between China, Vietnam and Thailand would be launched on April 25, it added.


TLC files application in US

Taiwan Liposome Co (TLC, 台灣微脂體) yesterday said that it has filed an investigational new drug application with the US Food and Drug Administration for TLC590, an opioid addiction treatment. The application is to be reviewed under the streamlined 505(b)(2) regulatory pathway, the company said. TLC590 is being developed as a nonaddictive alternative pain management treatment to opioids that features the sustained release of ropivacaine, a common local anesthetic, via the company’s proprietary liposome technology, it said. Pending the agency’s acceptance of the application, a first-in-human phase I/II clinical trial is to be initiated to assess TLC590’s effectiveness on patients undergoing hernia repair surgery compared with non-liposomal ropivacaine.


CHPT revenue jumps 31%

Chunghwa Precision Test Technology Co (CHPT, 中華精測), the nation’s largest provider of probe card testing services, yesterday reported a 31 percent jump in revenue for last month to NT$279 million, compared with NT$213 million in February. That brought the company’s first-quarter revenue to about NT$742 million, surging 37.2 percent from NT$540 million in the fourth quarter of last year, company data showed. The firm has said that advanced 7-nanometer and 10-nanometer process products would be major growth drivers this year.


HTC sales plunge 46.66%

HTC Corp (宏達電) yesterday reported that sales last month plummeted 46.66 percent annually to NT$2.77 billion. Sales in the first quarter totaled NT$8.79 billion, plunging 39.52 percent from a year earlier, company data showed. Analysts attributed the decline to the company being in between product cycles. HTC has yet to unveil its flagship smartphone for this year, while its virtual-reality business is still building scale in the fledgling market, analysts said. The company should see noticeable sales growth beginning this quarter as new products hit the market, they added.

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