Fri, Oct 05, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer

MOBILE PAYMENTS

TCB, Visa launch service

Taiwan Cooperative Bank (TCB, 合庫銀行) and Visa Taiwan yesterday implemented the nation’s first standardized, EMV-compliant QR Code payment system as financial institutions seek to tap into the mobile-payment business. The new solution covers the bank’s more than 8,000 acceptance points, the bank said in a statement. The system is to boost the bank’s acceptance footprint, due to its cost-effectiveness as a payment method, TCB chairman Lei Chung-dar (雷仲達) said. Local consumers and overseas travelers will be able to use the same QR Code to make payments wherever the specifications are adopted, Visa Taiwan general manager Marco Ma (麻少華) said.

FINANCE

UBS denies exit plan

UBS Taiwan yesterday issued a statement to dismiss media reports that it plans to pull out of the nation by the end of the year due to sluggish business. “UBS would like to take the opportunity to refute a totally groundless rumor that was circulating in some of the domestic Taiwan media earlier today,” the company said. “Rather, UBS remains fully committed to serving all of its clients in Taiwan and will continue to bolster the depth and breadth of its offering in Taiwan.” Chinese Nationalist Party (KMT) Legislator Sufin Siluko (廖國棟) told a meeting of the Finance Committee that UBS intended to allow its Hong Kong staff to steer the business in Taiwan.

IT INFRASTRUCTURE

Aten sales decline

Aten International Co Ltd (宏正), which provides information technology infrastructure solutions, yesterday reported consolidated sales of NT$393 million (US$12.8 million) for last month, a decrease of 7 percent from the same month last year. The breakdown showed that sales of IT infrastructure access management solutions were down 11 percent last month from a year earlier, while professional audio/video products were down 4 percent. USB products dropped 23 percent. Accumulated sales in the first nine months totaled NT$3.76 billion, an increase of 5 percent year-on-year, led by a 39 percent increase in USB products and a 12 percent increase in audio/video products, Aten said.

ELECTRONICS

Wistron withdraws plan

Contract electronics manufacturer Wistron Corp (緯創) yesterday said it is to withdraw a plan to raise capital by issuing global depositary receipts (GDRs). “Due to drastic changes in [the] worldwide political and economic situation, which have hampered the share price, the company is not able to raise fund[s] by Oct. 10, 2018. The company decides to withdraw the GDR fundraising plan,” Wistron said in a filing with the Taiwan Stock Exchange. The company in April won approval from the Financial Supervisory Commission to issue between 20.8 million and 26 million GDRs, aiming to raise between US$197.42 million and US$246.78 million.

CEMENT

Prices tipped to stay high

Cement prices and gross profit per tonne should remain high in the final quarter of the year, Capital Investment Management Corp (群益投顧) said yesterday, citing output restrictions in China amid environmental concerns and limited supply as disciplined production remains. Capital Investment said it has retained “buy” ratings on Taiwan Cement Corp (台灣水泥) and Asia Cement Corp (亞洲水泥), which have substantial shares of the Chinese market, with target prices of NT$50 and NT$48 respectively.

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