Thu, Jul 05, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies


King Yuan revenue up 4.5%

King Yuan Electronics Co (京元電子), an IC testing service provider, yesterday reported that revenue last month increased 4.5 percent from a year earlier to NT$1.72 billion (US$56.39 million), the highest in nine months, as the semiconductor industry entered a high season. In the first six months of this year, cumulative revenue totaled NT$9.62 billion on a consolidated basis, down 0.93 percent from the same period last year, the Hsinchu-based company said. Improving demand for applications for automotive electronics, the Internet of Things and high-performance computing is expected to drive King Yuan’s sales growth in the second half of the year, analysts said.


Newmax sales hit NT$149m

Optical module supplier Newmax Technology Co (新鉅科) yesterday reported consolidated sales of NT$149 million for last month, up 127.09 percent from a year earlier and the highest monthly revenue since March 2014. In the first half of this year, cumulative sales totaled NT$506 million, up 7.84 percent year-on-year, the company said. Newmax, which has worked with Microsoft Corp to develop 3D sensing lenses for Kinect gaming consoles, said it is developing 3D sensing lenses for smartphones, robots, virtual reality and augmented reality devices after making China’s Q Technology (Group) Co Ltd (丘鈦科技) a strategic investor via a private placement late last year.


Changhwa opens in Manilla

State-run Changhwa Commercial Bank (彰化銀行) on Tuesday opened a new branch in Manila, as the lender seeks to bolster its presence in Southeast Asia. The new branch would allow the lender to capitalize on the nation’s fast-growing economy and support the government’s New Southbound Policy, which encourages Taiwanese firms to cut their dependence on China. Infrastructure enhancement projects in ASEAN members could generate US$8 trillion of investment, while consumer spending could total US$2.3 trillion, according to the lender, which has 12 branches overseas.


Innolux ships 3.82m panels

Innolux Corp (群創) shipped 3.82 million TV panels in May, up 42.5 percent from a month earlier, market researcher TrendForce Corp (集邦科技) said in a report. The company also launched discount price packages to lower inventories of its 39.5-inch and 50-inch TV screens, the Taipei-based researcher said. China’s BOE Technology Group Co (京東方科技) took the top spot after shipping 4.77 million TV panels in May, up 19 percent from a month earlier, the report said. LG Display Co of South Korea came third after shipping 3.64 million TV screens, down 7 percent from a month earlier, it said.


Hu released from prison

Stern Hu (胡士泰), a former head of Rio Tinto Group’s iron ore unit in China, was yesterday freed from prison after his sentencing in 2010 on charges of taking bribes and obtaining commercial secrets, the Ministry of Foreign Affairs’ Web site said. Hu, an Australian citizen, and three Chinese colleagues convicted on the same charges were fired by Rio following a trial that was held partially behind closed doors. Australian Minister for Foreign Affairs Julie Bishop welcomed Hu’s release in an e-mailed statement: “Australian consular officials in China will continue to provide consular assistance to Mr Hu and his family for as long as it is needed.” Rio Tinto declined to comment.

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