Asustek sales climb 5.07%
Asustek Computer Inc (華碩電腦) yesterday posted sales of NT$30.64 billion (US$980.48 million) for last month, an increase of 5.07 percent year-on-year, as business slowly regained momentum due to peak season demand. The company said it plans to reinforce its product innovation and business management as it expects further growth in the upcoming months. In the first eight months of the year, cumulative sales dropped 4.82 percent year-on-year to NT$216.27 billion.
Vanguard revenue slumps
Vanguard International Semiconductor Corp (世界先進), which supplies driver ICs for flat panels and power management chips, yesterday posted revenue of NT$7.29 billion for last month, a decrease of 8.03 percent month-on-month. Vanguard chief financial officer Amanda Huang (黃惠蘭) attributed the decline to lower wafer shipments. On an annual basis, revenue fell 12.28 percent. Separately, contract chipmaker United Microelectronics Corp (聯電) posted a 4 percent month-on-month decline in revenue to NT$13.18 billion. That was flat from a year earlier.
CTBC profit soars 107%
CTBC Financial Holding Co’s (中信金控) net profit rose 107 percent year-on-year last month, thanks to higher investment returns on stocks and bonds, while its banking arm also expanded, spokeswoman Chiu Ya-ling (邱雅玲) said yesterday. E.Sun Financial Holding Co’s (玉山金控) net profit increased 58 percent year-on-year due to growing financial technology and cross border payment services, while SinoPac Financial Holdings Co (永豐金控) said its net profit grew 25 percent last month due stable banking business.
AIDC denies supplying door
Aerospace Industrial Development Corp (AIDC, 漢翔航空) yesterday said that it did not manufacture the door blown out in Boeing Co’s high-pressure stress test for its new wide-body 777X aircraft on Thursday last week. AIDC only provides pressurized doors for Boeing 737 and 747 jets, and so far has not discussed supplying components for the 777X, general manager Ma Wan-june (馬萬鈞) said by telephone. “While the failure of the door has caught the attention of the media, we think it is normal for there to be failures in tests,” Ma said.
Demand boosts Fulgent Sun
Fulgent Sun International Holding Co (鈺齊國際) yesterday posted revenue of NT$1.16 million for last month, an increase of 36.11 percent year-on-year, but a 16.13 percent fall month-on-month. Cumulative revenue in the first eight months grew 25.51 percent year-on-year to a record NT$8.48 billion on the back of strong demand in the US, as well as European and Asian markets, the company said.
Orders boost Quang Viet
Down jacket and garment maker Quang Viet Enterprise Co (廣越企業) posted sales of NT$2.26 billion last month, an increase of 7.9 percent month-on-month and 2.41 percent year-on-year, while cumulative revenue in the first eight months soared 33.64 percent to NT$10.71 billion. “Major clients such as Patagonia, Adidas AG, Nike Inc and The North Face Inc have placed more orders this year,” a company official said by telephone yesterday. The firm’s top five clients have decided to hasten the pace of their expansion in the next two years, which would help boost sales, the official said.
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,