Wed, Nov 07, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

EQUITIES

TAIEX falls on Apple fears

Local shares yesterday closed lower as selling focused on Taiwanese suppliers to Apple Inc, after smartphone camera lens maker Largan Precision Co (大立光) reported disappointing sales for last month, dealers said. The Nikkei reported earlier that Apple told Hon Hai Precision Industry Co (鴻海精密) and Pegatron Corp (和碩) to halt plans for additional production lines dedicated to assembling its lower-priced iPhone XR. The report, which cited unidentified people familiar with the matter, said Hon Hai’s production would be down 20 to 25 percent from its original outlook. Last week, Apple gave a tepid outlook for its holiday quarter and said it would stop providing unit sales for iPhones, iPads and Macs in the next fiscal year. The TAIEX closed down 64.86 points, or 0.66 percent, at 9,824.95, after moving between 9,782.86 and 9,899.97. Turnover was NT$116.88 billion (US$3.8 billion). Market sentiment has turned cautious ahead of yesterday’s midterm elections in the US and amid uncertainty on global markets, dealers said.

ELECTRONICS

HTC revenue rises

Smartphone maker HTC Corp (宏達電) yesterday reported that revenue last month rose 4 percent month-on-month to NT$1.31 billion, halting a streak of losses in the previous four months. However, the company’s revenue last month was 78.44 percent lower compared with the previous year, while revenue in the first 10 months also dropped 60.44 percent year-on-year to NT$20.91 billion. The company attributed the gain over past month to new product launches, while its efforts at cultivating the virtual reality market has begun to show early returns.

ENERGY

Orsted, TCC ink contract

Denmark’s Orsted A/S yesterday inked an engineering, procurement and construction contract with Taiwan Cogeneration Corp (TCC, 台灣汽電共生) to build two onshore substations, cable corridors, landfalls and transition joint bays for the first 900 megawatt Greater Changhua project. The contract is valued at about NT$7 billion and is one of the largest of its kind in the nation, Orsted said. Star Energy (星能), TCC’s wholly owned subsidiary, would be responsible for all onshore deliverables, including design. TCC would also subcontract with other local suppliers, which would create between 800 and 1,000 jobs, and fulfill the government’s local content requirement for offshore wind projects, the companies said.

PHARMACEUTICALS

TX01 to be commercialized

Tanvex BioPharma Inc (泰福生技) is to begin commercializing TX01, a biosimilar drug for treating chemotherapy-induced neutropenia, in the US market, the company told an investors’ conference in Taipei yesterday. TX-01 entered the final stages of the regulatory approval process in the US last month, the company added. Tanvex said that it would be marketing the drug in the US as part of its strategy to keep a firm control of the drug. Patients with neutropenia have abnormally low levels of neutrophils, a common type of white blood cell, which puts them at risk of severe infections.

PHARMACEUTICALS

PTS paper to be published

Gongwin Biopharm Holdings Co Ltd (共信生醫) on Monday announced that a research paper on PTS, the company’s mini-invasive targeted chemo-ablation oncology therapy, has been accepted to be published by Frontiers in Pharmacology, an international scientific journal. The piece would help raise PTS’ international profile, it said.

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