ENTERTAINMENT
M17 to make NYSE debut
M17 Entertainment Ltd (M17娛樂集團), the parent company of live music streaming platform 17 Media, is scheduled to make its US debut on the New York Stock Exchange (NYSE) on Wednesday next week. The Taipei-based company aims to raise US$95 million by offering 7.51 million American depositary receipts at US$10 to US$12, according to the terms of its initial public offering. M17 Entertainment, founded by Jeffrey Huang (黃立成), provides live music streaming and dating app services, mainly in Asia.
ELECTRONICS
Team Group revenue to rise
Team Group Inc (十銓科技), a supplier of memory modules and electronics, yesterday said revenue for this year could rise up to 40 percent from last year, driven by demand for embedded-related, gaming and industrial control products. The Taipei-based company said it plans to in September apply with the Taiwan Stock Exchange for an initial public offering before making a local debut by the end of this year. It reported net profit of NT$242 million (US$8.1 million) for last year, up 84 percent year-on-year, with earnings per share of NT$4.79.
MANUFACTURING
Sentiment up in April: TIER
Sentiment regarding the local manufacturing sector improved in April as exports grew at a double-digit percentage from a year ago, the Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) said in a report yesterday. The composite index for the manufacturing sector rose 1.25 from a month earlier to 11.7, ending two straight months of declines, the institute said. The general business climate, pricing and demand — three of the five factors that make up the composite index for the sector — moved higher, the institute said.
PETROLEUM
CPC to increase LNG prices
State-run refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it has decided to increase prices for liquefied natural gas (LNG) products this month, while keeping the prices for liquefied petroleum gas products unchanged. From today, average prices for LNG products are to increase by NT$0.31 per cubic meter, or 2.99 percent, from last month, CPC said. As a result, an average LNG consumption of between 30m3 and 45m3 per month would mean increased costs of between NT$9.3 and NT$13.95 per household, it said.
MOBILE
Ichia revenue falls 6 percent
Handset keypad maker Ichia Technologies Inc (毅嘉科技) yesterday reported revenue of NT$637 million for last month, down 6 percent from a year earlier and 10 percent from April, as orders from clients began to pick up steam. Last month’s revenue included about NT$509 million in sales of flexible printed circuit integrated components and about NT$130 million from mechanical integrated components, Ichia said in a filing with the Taiwan Stock Exchange.
FINANCE
Assets of OBUs drop 2.3%
The 60 offshore banking units (OBUs) of financial institutions operating in Taiwan had assets totaling US$203.92 billion as of the end of April, down US$4.746 billion, or 2.3 percent, from March, the central bank said on Thursday. The OBUs of 37 local banks held US$181.128 billion in assets, while foreign banks’ 23 OBUs held US$22.792 billion, it said. At the end of April, the primary uses of all OBUs’ funds were discounts and loans, amounting to US$80.678 billion, or 39.6 percent of total assets, it added.
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
Industrial production expanded 22.31 percent annually last month to 107.51, as increases in demand for high-performance computing (HPC) and artificial intelligence (AI) applications drove demand for locally-made chips and components. The manufacturing production index climbed 23.68 percent year-on-year to 108.37, marking the 14th consecutive month of increase, the Ministry of Economic Affairs said. In the first four months of this year, industrial and manufacturing production indices expanded 14.31 percent and 15.22 percent year-on-year, ministry data showed. The growth momentum is to extend into this month, with the manufacturing production index expected to rise between 11 percent and 15.1 percent annually, Department of Statistics
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald
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