Huaku Development Co (華固建設) could see its revenue jump this year with profits from three luxury residential projects, senior company officials said yesterday.
The Taipei-based company gave the guidance on the sidelines of its annual shareholders’ conference that gave its go-ahead to plans to distribute NT$5 per share in cash dividends from earnings per share of NT$3.12 for last year.
The payout rate exceeds 100 percent, a practice that is not uncommon among Taiwanese developers and reflects the company’s positive earnings outlook for this year.
The three projects might generate NT$17.2 billion (US$456.31 million) in revenue upon their completion later this year, Huaku general manager Carson Hung (洪嘉昇) told reporters.
The company is about to complete the “Your Majesty” (華固名鑄) complex on Taipei’s Dunhua N Road and “Delight Gallery” (華固樂慕) on Bade Road, while the “Sweet Garden” (華固新代田) project in New Taipei City’s Tucheng District (土城) is expected to be finished in the fourth quarter, Hung said.
Your Majesty, which features apartments of 100 ping (330m2) and 132 ping, is nearly 90 percent sold and might bring NT$8 billion in revenue, Hung said.
The Delight Gallery and the Sweet Garden might generate NT$5 billion and NT$4.2 billion respectively, he said.
“This year might prove a bountiful year for Huaku,” chairman Chung Long-chang (鍾榮昌) said.
Its sales rates are approaching 45 percent for presale and new housing projects, compared with 42 percent in Taipei and 38 percent in New Taipei City last year, he said.
The company last year refrained from launching new projects and relied on selling existing houses to drive revenue, Chung said.
That would explain why revenue for last year plunged 55.3 percent to NT$4.63 billion from 2017, as company data showed.
Huaku has created a strategy to develop boutique housing that might help it to cope with market changes and recover investment in faster, Chung said.
Three-bedroom apartments of 37 ping are the most popular in Taipei, he said.
Prices might pick up 3 to 5 percent for Huaku products in the Greater Taipei area due to healthy real demand and a lack of land supply, Chung said.
It plans to start construction on a joint venture on Taipei’s Chengde Road and roll out a presale project in the city’s Neihu District (內湖) in the fourth quarter.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
RSS