Tue, Sep 24, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

EQUITIES

TAIEX sheds 0.1 percent

Local shares yesterday closed slightly lower amid lingering concerns over trade frictions between the US and China. With turnover on the decline, large-cap shares across the board appeared in the doldrums, but select small and mid-cap technology shares related to 5G technology development got a boost, lending some support to the broader market. The TAIEX closed down 10.67 points, or 0.1 percent, at 10,919.02, on turnover of NT$105.647 billion (US$3.4 billion). Foreign investors bought a net NT$1.55 billion of shares on the main board, Taiwan Stock Exchange data showed.

SEMICONDUCTORS

Phoenix to build facilities

Silicon wafer recycler Phoenix Silicon International Corp (昇陽半導體) plans to spend NT$1.41 billion on new manufacturing facilities and research equipment after the company’s board approved the capital expenditure proposal on Friday last week. Phoenix Silicon plans to implement the spending proposal next year, it said in a regulatory filing. The board also approved a proposal to issue up to NT$1 billion in non-collateral convertible bonds to fund its capital spending needs. Phoenix Silicon posted record revenue of NT$252 million last month, with cumulative revenue in the first eight months rising 29.97 percent year-on-year to NT$1.76 billion.

NOTEBOOKS

Compal remains No. 1

Compal Electronics Inc (仁寶電腦) remained the world’s largest notebook computer assembler in the second quarter, according to a report released by International Data Corp (IDC). Compal’s shipments accounted for 30.5 percent of the global notebook computer assembly market during the second quarter, up from 26 percent in the previous quarter, the report said. According to IDC, a total of 39.7 million notebooks were produced last quarter, up 11.4 percent from a quarter earlier, translating to about 12.11 million units assembled by Compal. Quanta Computer Inc (廣達電腦) was the second-largest notebook producer with a 21 percent market share, up from a 20.3 percent in the first quarter, the report said.

STEELMAKERS

CSC president appointed

China Steel Corp (CSC, 中鋼) yesterday appointed company executive vice president Wang Shyi-chin (王錫欽) as its new president to fill the vacancy left by Lin Horng-nan (林弘男). The personnel adjustments are to take effect on Monday next week, when Lin finishes his one-year term. Wang has been working for CSC for 38 years, the company said, adding that he has worked for subsidiary Dragon Steel Corp (中龍), CSC’s technology division, and its research and development division.

BANKING

HKEX pushes LSE takeover

Hong Kong Exchanges & Clearing Ltd (HKEX) has started working with UBS Group AG and HSBC Holdings PLC as it begins its charm offensive to convince London Stock Exchange Group PLC (LSE) shareholders about the merits of its takeover bid, people familiar with the matter said. The banks have been brought in as advisers and are helping HKEX arrange meetings with LSE shareholders, said the people, who asked not to be identified because the information is private. The Hong Kong bourse was already working with US boutique investment bank Moelis & Co on the US$37 billion bid.

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