Sat, Jun 02, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer


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.


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.


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.


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.


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.


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.

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