Mon, Feb 25, 2019 - Page 15 News List

Taiwan Business Quick Take

Staff writer, with CNA


TSMC books disruption loss

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) on Friday said that it incurred a loss of NT$6.1 billion (US$197.9 million) due to a production disruption caused by substandard chemicals and the company would book the loss this quarter. On Feb. 15, TSMC said that the incident would reduce sales by US$550 million and drag down its earnings per share by NT$0.42 in the first quarter. The incident was the second major incident for TSMC since August last year, when its systems were infected with a virus, causing NT$2.6 billion in losses.


Cheng Shin’s rating cut

S&P Global Ratings on Friday lowered its rating for tire manufacturer Cheng Shin Rubber Industry Co (正新橡膠) to “BB+” from “BBB,” with a stable outlook. S&P said in a statement that the rating cut came as Cheng Shin’s profitability and cash flow generation have weakened over the past few quarters and the prospects of a significant improvement in profitability over the next one to two years are limited.


Tong Yang revenue slips

Automotive metal sheet and bumper manufacturer Tong Yang Industry Co (東陽) on Thursday reported NT$254 million in pretax profit for last month. That translated into pretax earnings per share of NT$0.44, the company said in a statement. Revenue last month plunged 13.59 percent year-on-year to NT$1.92 billion from NT$2.22 billion in January last year, mostly due to weak car sales in China. The company’s sales in the original electronics manufacturing business almost halved to NT$506 million last month, from NT$909 million, the company said.

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