Fri, Oct 12, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer

TAXATION

National revenue declines

The nation’s tax revenue last month decreased NT$36.6 billion (US$1.178 billion), or 13 percent, to NT$243.9 billion from the same period last year, the Ministry of Finance said yesterday. The ministry attributed the decline mainly to a NT$32.4 billion decrease in business income tax revenue, although revenue from tobacco and alcohol taxes gained NT$2.2 billion and health and welfare taxes increased NT$1.6 billion year-on-year. Aggregate tax revenue in the first nine months of the year increased NT$74.7 billion, or 4.2 percent, to NT$1.858 trillion from the same period last year. The nine-month figure was 3.6 percent higher than its target, the ministry said.

SEMICONDUCTORS

King Yuan obtains loan

King Yuan Electronics Co (京元電子), a provider of testing for integrated circuits, yesterday said it had obtained NT$14.2 billion in a syndicated loan from 17 local lenders led by Mega International Commercial Bank (兆豐銀行). The company plans to use the funds to improve its working capital and repay long-term debts, it said in a statement. The company posted a 10 percent quarterly increase in revenue for last quarter totaling NT$5.52 billion, an all-time high. It said it benefited from increased demand for chips used in smartphones, cars and Internet-of-Things applications.

CHIPMAKERS

Macronix settles lawsuits

Memorychip maker Macronix International Co (旺宏電子) yesterday said it has settled patent infringement lawsuits with Toshiba Corp in the US after the Japanese chipmaker agreed to pay US$40 million. It was the second victory for the Hsinchu-based company after Toshiba last week agreed to pay US$40 billion to settle a series of patent infringement suits in Taiwan and Japan. In March, Marconix filed complaints with the US International Trade Commission and a district court in California, accusing Toshiba of illegally using its patents. The commission on Tuesday ruled that Toshiba had infringed patents owned by Macronix, the company said.

ELECTRICITY

Taipower approves bonds

Taiwan Power Co (Taipower, 台電) yesterday said its board had approved a proposal to raise NT$13.8 billion through the issuance of corporate bonds to fund green energy and power generation projects. The bonds, which include NT$2.9 billion in “green” bonds with a maturity of five years, are to be issued and traded from the middle of next month, Taipower said in a statement. The state-run utility issued NT$8.3 billion of the bonds in December last year, followed by another NT$2.4 billion issuance in April.

FINANCING

Hotai Finance to debut

Hotai Finance Corp (和潤), which provides car loan and insurance services, is expected to begin trading its shares on the Emerging Stock Board — a preparatory board for the nation’s two main bourses — on Monday at NT$53 per share. Hotai Finance is a joint venture between Hotai Motor Co (和泰) and Toyota Financial Services, which have stakes of 65.77 and 33.27 percent respectively. The amount of auto financing and installment loans for production equipment reached NT$60.7 billion in the first eight months of the year, up 17 percent from the same period last year, Hotai Finance told an investors’ conference yesterday. The amount was NT$81.2 billion for all of last year.

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