Wed, May 16, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writers

ELECTRONICS

ChipMOS granted loan

ChipMOS Technologies Inc (南茂), a packaging and testing service provider for memory chips and LCD driver integrated circuits, yesterday said it has secured a NT$12 billion (US$402 million) syndicated loan to repay debts and replenish its operating capital. The company said the loan would help it significantly improve its short-term cash position from NT$3.2 billion as of March 31. ChipMOS must also repay NT$2.2 billion in debt within a year. Eleven local lenders led by state-run Taiwan Cooperative Bank (合作金庫銀行) signed the loan agreement.

ELECTRONICS

Ennoconn eyes chips

Ennoconn Corp (樺漢) yesterday said it has purchased a 47.15 percent stake in semiconductor equipment supplier Marketech International Corp (帆宣) for about NT$4.92 billion in a bid to expand its scope and enhance its technological capabilities. Ennoconn, an industrial computer manufacturing arm of Hon Hai Precision Industry Co (鴻海精密), last month announced a tender offer to acquire a controlling stake in Marketech during a one-month period through Tuesday last week. The acquisition of 86.47 million shares is the latest step in Ennoconn’s move to expand its product portfolio beyond contract manufacturing of industrial computers.

HOSPITALITY

Inhouse expands in Taichung

Inhouse Hotel Group (薆悅酒店) is to open a second property in Taichung, citing optimism about the tourism industry in central Taiwan. The flagship hotel on Taichung’s Wucyuan Road is to feature 116 luxury guestrooms priced between NT$2,000 and NT$3,000 per night and a cafe on the ground floor. The grand opening is set for late next month or early July, after a soft opening was held last week. The group owns four other smaller facilities near Taichung Railway Station and Taipei’s Ximen MRT Station.

HOSPITALITY

Caesar offers holiday boxes

Caesar Park Banciao (板橋凱薩飯店), the flagship property of Caesar Park Hotels and Resorts (凱撒飯店連鎖), is seeking to boost its food and beverage sales with special sticky rice dumpling gift boxes to be sold ahead of the Dragon Boat Festival. The boxes cost NT$980 each and contain six flavors of sticky rice dumplings to capitalize on the holiday that falls on June 18 this year. Caesar Park Banciao has since its opening last year aimed to become the top dining brand in New Taipei City. Its Chinese restaurant, Jia Yan (家宴), is to launch a special menu featuring bamboo dishes to attract diners who are looking for low-fat cuisine over the summer.

ASSET MANAGEMENT

FSITC plugs AI funds

First Securities Investment Trust Co (FSITC, 第一金投信), the asset management arm of state-run First Financial Holding Co (第一金控), is betting on artificial intelligence (AI) and biotechnology funds, as the industry gains popularity at home and abroad. AI-related funds led the 75 percent boon in themed funds last year to US$414.4 billion, as investors are upbeat that new technologies are to play an increasingly important role in people’s lives, FSITC said. The firm cited IBM Corp’s Watson as an example, saying that the technology has assisted the healthcare system in analyzing images to improve diagnoses and treatment. The system is also used to track patients’ genetic traits and recommend personalized therapies to add value to the healthcare industry, FSITC said, suggesting that investors take advantage of the trend.

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