Thu, Mar 28, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

FINANCE

AEON leaving Taiwan

The Financial Supervisory Commission yesterday confirmed that AEON Credit Card (Taiwan) Co Ltd (台灣永旺信用卡) began winding down its business in December last year. By June 1, about 50,000 credit cards issued by the local unit of the Japanese retail giant would be taken out of circulation, it said. After arriving in 2002, the company lacked the required scale to be profitable, the commission said.

MANUFACTURING

Giant upbeat on year ahead

Giant Manufacturing Co (巨大機械) is upbeat about its sales this year as bicycle demand recovers in China while demand for electric bicycles continues to grow steadily, chairwoman Bonnie Tu (杜綉珍) said at a trade show in Taipei yesterday. The company last year reported that net income rose 39.4 percent annually to NT$2.86 billion (US$92.69 million), or earnings per share of NT$7.64, while sales rose 9.1 percent annually to NT$60.24 billion. Sales of electric bicycles are expected to grow 30 percent this year and contribute up to 25 percent of total sales this year, up from last year’s 19 percent, Giant said. The company said it is planning to spend about NT$5 billion this year on overhauling its headquarters in Taichung and expanding its logistics and manufacturing capabilities in Taiwan.

ENTERTAINMENT

VHQ plans NT$7 payout

Singapore-based visual effects and post-production company VHQ Media Holdings Ltd yesterday announced plans to distribute a cash dividend of NT$7 per share, representing a yield of 4.4 percent. The Taipei Exchange-listed company, whose customers include Netflix Inc and Facebook Inc, last year reported net income of NT$505 million last year — a record high. Post-production revenue also rose 23 percent annually to NT$1.6 billion, with gross margin reaching 56 percent, besting 2017’s showing by 3 percentage points. The company said that it is collaborating with Netflix on an Asian-led science fiction series, which would begin contributing to its top line next quarter.

ENERGY

UREC bests battling peers

United Renewable Energy Co (UREC, 聯合再生能源) yesterday reported that it ended last quarter NT$1.43 billion in the black, besting its peers, which reported massive losses, and bucking a persistent downturn in the solar power sector. Revenue last quarter rose 76.47 percent quarter-on-quarter to NT$4.83 billion, the company said. However, it ended last year with a net loss of NT$468 million — 88.7 percent less than a year earlier. UREC was formed last year after solar cell makers Neo Solar Power Energy Corp (新日光能源), Gintech Energy Corp (昱晶能源) and Solartech Energy Corp (昇陽光電) merged.

COMPUTERS

Clevo reports income spike

Computer maker Clevo Co (藍天電腦) yesterday reported that net income last year surged 102 percent annually to NT$1.46 billion, while sales dipped 5 percent annually to NT$19.8 billion. Earnings per share were NT$2.32 — a four-year record. Laptop shipments last year rose 0.8 percent to 128.2 million units, despite challenges because of key component shortages. The company said that as Intel’s 14-nanometer fabrication stabilizes, laptop shipments should rise to 164 million units this year. Shipments of gaming desktop computers and laptops are expected to reach 9.8 million units this year, up from 8.5 million units last year and 4.7 million in 2016, the firm said.

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