Wed, Feb 27, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer

HANDSETS

Silitech to reduce capital

Handset keypad supplier Silitech Technology Corp’s (閎暉) board on Monday approved a proposal to reduce the company’s capital by 66.55 percent to refund cash to shareholders and adjust the company’s capital structure to increase returns on equity. In a regulatory filing, Silitech said it would cut its capital by NT$1.19 billion (US$38.7 million) by canceling 119.38 million shares and return NT$6.66 per share to shareholders. The company also decided not to propose distributing a cash dividend for last year because of losses, although net losses per share narrowed from NT$0.46 in 2017 to NT$0.19 last year. Revenue decreased 1.49 percent year-on-year to NT$2.25 billion.

COMPUTERS

Getac to pay NT$3 dividend

Rugged PC vendor Getac Technology Corp (神基) said its board of directors yesterday approved a proposal to distribute a cash dividend of NT$3 per share. The dividend payout was based on the company’s earnings of NT$2.21 billion last year, or earnings per share of NT$3.83, the company said in a filing with the Taiwan Stock Exchange. The proposed cash dividend translates to a payout ratio of 78.33 percent and a dividend yield of 6.41 percent based on stock’s closing price of NT$46.8 yesterday. The dividend proposal is to be voted on at the annual shareholders’ meeting on May 31.

PHARMACEUTICALS

SynCore enrolls US patient

SynCore Biotechnology Co (杏國新藥) yesterday announced that SB05PC, its new pancreatic cancer drug, has enrolled its first patient in the US for a global phase III clinical trial across seven nations. The company said that progress made with the US Food and Drug Administration would help with its approval efforts in other markets and that SB05PC has been granted orphan drug status due to a lack of available alternative second-line treatments. Last month, the company enrolled patients in Hungary, Israel and France. It said that its patient enrollment is on track and expected to produce an interim report in the second half of this year.

PHARMACEUTICALS

Milestone payment received

Anxo Pharmaceutical Co Ltd (瑩碩生技) has received its first milestone payment from its unidentified Chinese partner in Guangzhou, the company said yesterday. Anxo did not reveal the amount of the milestone payment. The company has inked collaborations with six Chinese companies to work on 18 new drug projects and they are aiming to take advantage of ongoing regulatory reforms in China to expand the availability of generic drugs in the nation. Drug developers are heading toward a cutthroat battle to make it into the top three for a certain drug class as China adopts harmonized approval standards and requirements. Anxo said that it and the Guangzhou-based company are working on two cardiovascular drugs and a pediatric respiratory drug with a combined potential market value of about 10.5 billion yuan (US$1.57 billion).

MONEY SUPPLY

M1B grows 6.55 percent

Last month’s M1B — a measure of money in circulation — grew 6.55 percent year-on-year, accelerating from a 5.69 percent increase the previous month, while M2 — which includes the M1B, time deposits, foreign-currency deposits and mutual funds — increased 3.14 percent from 3.07 percent the previous month, mainly because of growth in bank loans, investments and net foreign capital inflows, the central bank said in a statement yesterday.

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