Fri, Apr 12, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer

BEVERAGES

Oceanic to ‘support’ probe

Drinks maker Oceanic Beverages Co Ltd (大西洋飲料) yesterday said that it would “fully support” an investigation of alleged contraventions of the Securities Exchange Act (證券交易法), after prosecutors said they are to summon several of the company’s employees, including chairman Chiang Kuo-kuei (江國貴), for questioning. The company’s shares were suspended from trading on Monday after it failed to provide an audited financial report to the Taiwan Stock Exchange due to PricewaterhouseCoopers accountants’ reservations about financial records related to three property deals. Oceanic Beverages, which has not yet hired new accountants to sign off on its financial report, could face a delisting as soon as June, local media reported.

PANELMAKERS

Prosecutors to handle CPT

The Financial Supervisory Commission said it has decided to hand a case involving LCD panel maker Chunghwa Picture Tubes Ltd’s (CPT, 中華映管) questionable investment in China’s CPT Technology Group Co (華映科技) to prosecutors for further investigation, as the company might have deliberately concealed information to keep shareholders from knowing details about the investment, which would contravene the Securities Exchange Act. The commission would also refer its parent company, Tatung Co (大同), to prosecutors for investigation, Chairman Wellington Koo (顧立雄) said.

BEVERAGES

Taisun, Cama Cafe team up

Food and cooking oil supplier Taisun Enterprise Co (泰山企業) yesterday announced that it would team up with local coffee chain Cama Cafe to develop new coffee products. Taisun said it hopes the products would help it break into the nation’s ready-to-drink coffee market worth NT$7 billion (US$226.8 million) per year. It did not specify flavors, prices or debut dates. Taisun, which holds a 20 percent stake in convenience store operator Taiwan FamilyMart Co (全家便利商店), said that it is confident in the success of the products based on its food safety, management and channel retailing experience.

GAMING

IGS profits, sales up

International Games System Co (IGS, 鈊象電子), a leading online and arcade game developer, yesterday reported better-than-expected pretax income of NT$376 million for the first quarter, or pretax earnings per share (EPS) of NT$5.35, while sales increased 35.04 percent year-on-year to NT$976 million. Arcade games accounted for 20 percent of the company’s revenue, while online games made up the rest. The firm said that it would maintain its focus on the three major arcade game markets of China, the US and Southeast Asia this year. IGS shares yesterday rose by the daily limit to close at NT$248.5, the highest since August 2016.

SHIPPING

Yang Ming buys four ships

Yang Ming Marine Transport Corp (陽明海運) has signed charter agreements for four 11,000 twenty-foot-equivalent unit (TEU) container vessels with Shoei Kisen Kaisha Ltd, which would be delivered in the first three quarters of 2022 to help enhance the company’s mid to long-term operational efficiency and competitiveness. Yang Ming said it has since last year ordered another 10 11,000 TEU vessels through long-term charter agreements with Owners Costamare and Shoei Kisen. The new ships would enable Yang Ming to have a total of 14 11,000 TEU newly built container ships from next year to 2022, it said.

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