Synnex subsidiary expands
Synnex Technology International Corp (聯強) last week announced that an Indonesian subsidiary opened a logistics center last month, as the outlook for information technology and communications products in the country remains bright. PT Synnex Metrodata Indonesia, a joint venture with PT Metrodata Electronics, Indonesia’s largest information technology firm, expects the center to increase customer satisfaction and reduce logistical costs, Synnex said. The firm reported revenue of NT$53.3 billion (US$1.72 billion) for the first two months of the year, down 5 percent year-on-year.
Shin Zu Shing sales jump
Notebook PC and LCD monitor hinge maker Shin Zu Shing Co Ltd (新日興) reported earnings per share of NT$6.67, the highest in three years, thanks to rising sales and improved gross margins. Net profit for last year increased 62.3 percent annually and operating profit grew 15 percent to NT$1.51 billion, with revenue rising 11.4 percent to NT$9.65 billion, the company reported on Friday. New AirPod orders from Apple Inc would boost the company’s sales this year, while its advantage in metal injection molding technology and hinges for foldable devices could make a greater contribution, analysts said.
Jinli sales fall 30.25%
Jinli Group Holdings Ltd (金麗), an apparel maker that focuses on the Chinese market, on Friday said that consolidated sales fell 30.25 percent last month from a year earlier due to seasonal factors and fewer working days. Sales last month were NT$128 million, also down 54.69 percent from January, Jinli said. Combined sales for January and last month dropped 26.7 percent year-on-year to NT$410 million as trade tensions weighed on consumer demand in China, the company said.
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
Uber Technologies Inc, Lyft Inc and Airbnb Inc have slashed thousands of jobs. Salesforce.com Inc and Visa Inc are letting employees work remotely for months; Twitter Inc and Square Inc are allowing them to do so for good. For the companies’ hometown of San Francisco, the moves are early signs of a dire blow. In a city with a long history of booms, busts and natural calamities, the COVID-19 pandemic has suddenly upended nearly a decade of prosperity. While municipalities across the US are grappling with economic fallout from the virus, San Francisco stands to take a deeper hit given its high
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the