Thu, Apr 05, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

MICROECONOMICS

Foreign reserves hit high

The nation’s foreign-exchange reserves as of the end of last month hit a new high for the 12th consecutive month, largely on the back of an increase in returns on funds managed by the central bank from a month earlier. However, the euro’s depreciation against the US dollar offset the effects of higher investment returns to slow the monthly growth in the foreign reserves, the bank said on Tuesday. As of the end of last month, foreign reserves stood at US$457.19 billion, up US$467 million from the end of February. The growth was shy of a month-on-month rise of US$997 million in February, central bank data showed.

ELECTRONICS

Ichia revenue up 63 percent

Handset keypad maker Ichia Technologies Inc (毅嘉科技) on Tuesday posted revenue of NT$614 million (US$21 million) for last month, up 9 percent from a year ago and 63 percent from the previous month. The company said in a filing to the Taiwan Stock Exchange that last month’s revenue included about NT$488 million in sales of flexible printed circuit integrated components and about NT$131 million from mechanical integrated components. The company said its first-quarter revenue expanded 8 percent year-on-year to NT$1.59 billion, driven mostly by flexible printed circuit boards used in mobile devices and automotive parts.

SOLAR

GET sales down 9 percent

Green Energy Technology Inc (GET, 綠能科技), the nation’s largest solar wafer maker, on Tuesday reported sales of NT$851 million last month, up 5.8 percent month-on-month, but down 9 percent year-on-year. In the first quarter, sales totaled NT$2.62 billion, down 23.4 percent quarterly and 0.28 percent annually, it said in a statement. “In spite of concerns over industry trading barriers, pricing in the solar supply-chain is stabilizing. GET’s in-house capacity utilization was about 90 percent last month,” it said. The company plans to speed up module development with support from its parent company, Tatung Group (大同), to extend its downstream business in global high-end markets, it said.

AVIATION

Mandarin launch new route

Mandarin Airlines (華信航空) on Monday announced that it would start flying between Taichung and Tokyo in June, the first airline to fly the route. The airline is to offer a daily flight from June 14, with the outbound flight departing from Taichung International Airport at 7:30am and arriving at Narita Interntiaonal Airport at noon. Flights from Japan are to take off at 1pm and arrive in Taichung at 3:50pm, said the airline, a subsidiary of China Airlines Ltd (中華航空).

E-COMMERCE

Momo to distribute dividend

TV and online retailer Momo.com Inc (富邦媒體) has proposed distributing a cash dividend of NT$8 per share, representing a payout ratio of 88.2 percent based on last year’s earnings per share (EPS) of NT$9.07. The company said it expects strengthening sales momentum for this year, after combined sales in the first two months this year grew 36.6 percent annually to NT$6.94 billion. Meanwhile, Eastern Home Shopping & Leisure Co (EHS, 東森購物) plans to distribute a cash dividend of NT$4 per share, based on EPS of NT$3.2 last year. In the first two months of this year, it posted sales of NT$2.34 billion and EPS of NT$0.9, EHS said.

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