Taiwan Business Quick Take - Taipei Times
Tue, May 01, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

CHIP PACKAGERS

ASE shares fall 9.7%

ASE Industrial Holding Co (ASE, 日月光投資控股) shares yesterday plunged 9.7 percent to close at NT$80.3 on its debut on the main bourse. The holding company operates the nation’s two biggest chip packagers and testers — Advanced Semiconductor Engineering Inc (日月光半導體) and Siliconware Precision Industries Co Ltd (矽品精密). The holding company said it plans to distribute a cash dividend of NT$2.5 per common share by allocating part of the company’s capital surplus. That represents a 3.11 percent yield compared with the stock’s closing price yesterday. In total, the company plans to pay NT$10.8 billion (US$364.8 million) in dividends. The company is scheduled to hold an annual shareholders’ meeting on June 21 to vote on the dividend distribution.

TELECOMS

Chunghwa, HTC ink deal

Chunghwa Telecom Co (中華電信), the nation’s biggest telecom, yesterday said it has signed a memorandum of understanding with HTC Corp (宏達電) to collaborate extensively on developing 5G technology devices and marketing. The memorandum aims to better prepare the company for the launch of pre-commercial 5G services, the telecom said in a statement. The deep collaboration is aimed at getting a leading share of the 5G market. In related news, Chunghwa Telecom said it plans to exclusively offer the HTC U11 phone at NT$3,990 along with a 30-month unlimited access 4G service contract.

FOOTWEAR

Pou Chen unveils dividend

Footwear manufacturer Pou Chen Corp (寶成工業) yesterday said in a filing that its board has approved a plan to distribute a cash dividend of NT$2 per share, the highest in the company’s history. The proposed dividend reflects the company’s earnings per share of NT$4.38 last year and is a relatively high payout ratio of 45 percent. Pou Chen posted a net profit of NT$12.92 billion for the whole of last year, down 1 percent from NT$13.06 billion the previous year, mainly because of higher expenses as it expands and renovates its retail business. Revenue was NT$278.63 billion, a 1.4 percent annual increase from NT$274.9 billion in 2016, company data showed.

FINANCIAL SERVICES

NT$0.6 divdend approved

China Development Financial Holding Corp (開發金控) yesterday said its board has approved the distribution of a cash dividend of NT$0.6 per common share. That represents a 5.33 percent yield compared with the company’s closing price of NT$11.25 yesterday. The company plans to hold an annual shareholders’ meeting on June 22 to approve the cash dividend distribution. China Development last year made a net profit of NT$11.7 billion, up from NT$5.92 billion in 2016. Earnings per share jumped to NT$0.8 last year from NT$0.4.

STOCK MARKET

TAIEX closes above 10,600

The TAIEX yesterday closed up 0.99 percent, rising above 10,600 points, led by increases in Apple Inc concept shares, most notably Largan Precision Co (大立光). The TAIEX closed at 10,657.88 on turnover of NT$118.03 billion. Shares in smartphone camera lens supplier Largan gained 6.5 percent to close at NT$3,480, while shares in contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) rose 1.5 percent to close at NT$227. Shares in Hon Hai Precision Industry Co (鴻海精密), a major assembler of Apple iPhones, rose 1.72 percent to close at NT$82.9.

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