Tue, Dec 03, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

ELECTRIC SCOOTERS

Gogoro posts record sales

Gogoro Inc (睿能創意) yesterday posted own-brand electric scooter sales of 18,530 units for last month, a new record that saw the company seize a 23.11 percent share of the local market. Including electric scooters made for partners such as Aeon Motor Co (宏佳騰), Yamaha Motor, Sanyang Motor Co Ltd (三陽工業) and Suzuki Motor, the company’s total electric scooter sales rose to 20,015 units last month, a market share of 25 percent. The company’s electric scooters outsold 125cc gasoline-powered scooters for the first time last month, Gogoro said in a statement. The growth was also attributable to the launch of the Gogoro 2 Delight and lightweight Gogoro Viva models, which were the No. 2 and No. 4 best-selling scooter models in Taiwan last month, the statement said.

STEELMAKERS

Hsin Kuang breaks ground

Hsin Kuang Steel Co (新光鋼鐵) broke ground on a new logistics complex in Taoyuan’s Guanyin District (觀音) yesterday. The company said it is constructing a new automated storage and logistics facility costing about NT$3.6 billion (US$118 million). The project is expected to create 1,200 job opportunities, it said. The construction is expected to be completed in September next year ahead of operations beginning in the fourth quarter, the company said. Hsin Kuang posted net income of NT$170 million in the first three quarters, or earnings per share of NT$0.55, down 87.7 percent year-on-year. Cumulative revenue declined 8.3 percent to NT$6.13 billion.

TECHNOLOGY

Park posts record revenue

The Central Taiwan Science Park (中部科學園區) generated revenue of NT$629.76 billion in the first 10 months of the year, the highest level for the period on record. Park Administration Office director-general Hsu Mao-hsin (許茂新) said that 10-month revenue grew 10.17 percent year-on-year, aided mainly by the NT$69.74 billion revenue generated by the integrated circuit industry. Overall revenue for this year is likely to be higher than last year’s NT$760 billion, Hsu said, adding that the park has set a revenue target of NT$800 billion for next year.

LOTTERIES

Tax rules to be changed

Beginning on Sunday, a 20 percent lottery tax is no longer to be collected on prizes of NT$5,000 and below in all national lotteries, the Ministry of Finance said. That includes the uniform invoice lottery, and the lotteries run by Taiwan Lottery Co (台灣彩券) and Taiwan Sports Lottery Co (運彩科技). For prizes above NT$5,000, the 20 percent tax would still be collected, the ministry said. The new threshold applies to all prizes that are claimed from Sunday, it added.

INSURANCE

HK sales to Chinese slump

Hong Kong insurance sales to mainland customers declined in the third quarter as pro-democracy protests deterred visits to the territory. Purchases of insurance policies and related investments by mainland customers declined 18 percent year-on-year to HK$9.7 billion (US$1.2 billion), Hong Kong Insurance Authority data showed. That was the biggest drop since the start of last year, and it weighed on the sales of insurance giants such as Prudential PLC and AIA Group Ltd. The Hong Kong insurance market attracts mainland customers as it offers a wider array of investment products and access to foreign currencies.

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