Thu, Jul 19, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

REAL ESTATE

TFCC replaces its president

Taipei Financial Center Corp (TFCC, 台北金融大樓), which owns Taipei 101, yesterday approved the replacement of its president, Chen Shih-ming (陳世明), with Angela Chang (張振亞). The firm attributed the management reshuffle to business needs. The change is to take effect today, the company said. Chang earned a bachelor’s degree in economics from National Taiwan University and a master’s degree in business administration from Harvard University, it said, adding that she held top positions at Johnson & Johnson Taiwan and numerous charitable organizations, including President Tsai Ing-wen’s (蔡英文) Thinking Taiwan Foundation.

PLASTICS

FPG boosts raise with bonus

Formosa Plastics Group (FPG, 台塑集團) yesterday said it plans to issue an additional one-time bonus of NT$4,000 (US$131) to its employees to beef up a wage hike. The bonus would increase the corporation’s wage hike to an average of 4.63 percent, from 4 percent decided on Monday after negotiations with representatives of workers’ unions, FPG said. The 4 percent hike, which is to take effect from this month, represents an average increase per worker of NT$2,100 per month.

INTERNET

Google caters to motorbikes

Google yesterday launched a new map service for motorbike riders in Taiwan that will help them plan their routes and calculate their travel time. The firm launched two-wheel navigation mode in December last year, with Taiwan becoming the fourth nation to receive the service after India, Indonesia and Malaysia, Google said. Users need mobile devices powered by Android 4.4 or newer versions of the operating system to be able to use the new service, it said.

AIRLINES

EVA ranked world’s fifth-best

EVA Airways Corp (長榮航空) has been ranked fifth by Skytrax in this year’s World’s Best Airlines list, up one notch from last year. EVA took World’s Best Airport Services honors and was named as one of this year’s five-star airlines, Skytrax’s Web site showed. Singapore Airlines Ltd was ranked the best airline, followed by Qatar Airways Ltd, All Nippon Airways Co and Emirates, the Web site showed.

SECURITIES

Profit plunges 30.57 percent

Securities companies operating in Taiwan have reported a 30.57 percent month-on-month decline in profit to NT$3.53 billion for last month due to volatility on the local equity market. However, the figure was a 39.67 percent increase from the same period last year, data compiled by the Taiwan Stock Exchange (TWSE) last week showed. Securities firms’ proprietary trading operations saw a decline of NT$3.23 billion in net profit from a month earlier, while their underwriting businesses posted a drop of NT$20 million in earnings, TWSE said.

? EQUITIES

HKEX eyes links expansion

Chinese investors would eventually be able to buy stocks with weighted voting rights, such as Xiaomi Corp (小米), through links with Hong Kong, Hong Kong Exchanges and Clearing Ltd (HKEX) said in a statement yesterday, days after China’s bourses barred such companies from the cross-border trading program. HKEX said it on Tuesday reached an agreement with the Shanghai and Shenzhen bourses to set up a working group to form rules on the new adjustment as soon as possible. It did not provide details on the timing.

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