Wed, Jan 30, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

RETAIL

Momo.com net income rises

TV and online retailer Momo.com Inc (富邦媒體) yesterday reported that net income in the past year rose 19.24 percent annually to NT$1.45 billion (US$47.06 million), while revenue grew 26.4 percent to NT$42.02 billion. Earnings per share were NT$10.35, up from NT$9.07 a year earlier and the highest level in the past three years, the company said. During this quarter’s year-end shopping rush, net income totaled NT$410 million, or earnings per share of NT$2.92, while revenue rose 24.7 percent to NT$12.39 billion, it said. Momo.com said that its online shopping business grew 33.3 percent, with users increasing the frequency of purchases by about 24 percent and the size of transactions gaining 8.4 percent.

ELECTRONICS

Largan buys 3,500 ping plot

Largan Precision Co (大立光), a camera lens supplier for Apple Inc’s iPhones, yesterday said that it has obtained 3,500 ping (11,570.25m2) of land and facilities in Taichung for NT$983.37 million after a long search. Largan said in a filing with the Taiwan Stock Exchange that it plans to use the new property to expand capacity. It was the second deal secured by the Taichung-based company after it spent NT$1.8 billion on a 7,300 ping plot of land in the central city on Jan. 18. The company said that it would continue to scout for new land in neighboring areas to cope with further capacity expansion over the next two years.

DISPLAYS

Coretronic profit rises 15.4%

Coretronic Corp (中光電), a manufacturer of LCD backlight modules, yesterday said that net profit last year rose 15.4 percent year-on-year from NT$1.75 billion to NT$2.02 billion, the highest level in four years, thanks to growth in the 4K TV display segment. Earnings per share rose to NT$4.65, compared with NT$4.03 in 2017, the firm said. Gross margin last year improved from 17.1 percent in 2017 to 18.6 percent, while revenue rose 4.8 percent year-on-year from NT$53.11 billion to NT$55.67 billion, it said. The company said that it expects backlight module shipments to drop 10 percent this quarter from 11.71 million units last quarter due to seasonal weakness and fewer working days during the Lunar New Year holiday, which starts on Saturday.

TRADE

TAITRA launches platform

The Taiwan External Trade Development Council (TAITRA, 外貿協會) yesterday launched the Southern Star Club, an online platform that has attracted more than 1,400 local businesses seeking to tap into the markets targeted by the government’s New Southbound Policy. The platform provides members access to TAITRA’s resources and office staff for assistance, the council said. It also helps users harness the power of crowd-sourcing, identify their needs and conduct business among each other, it said, adding that the platform is part of digitization efforts and is aimed at filling gaps between trade shows.

EQUITIES

TAIEX slides after US drops

The TAIEX yesterday closed down 0.82 percent to 9,931.59 points, dragged down by large-cap shares after stocks in the US took a beating overnight. Turnover totaled NT$88 billion. In the bellwether electronics sector, Largan Precision Co rose 1.61 percent to end at NT$3,780, while iPhone assembler Hon Hai Precision Industry Co (鴻海精密) dropped 1.27 percent to close at NT$69.90. Taiwan Semiconductor Manufacturing Co (台積電), the most heavily weighted stock on the local market, shed 2.84 percent to end at NT$222.50.

This story has been viewed 1519 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top