Wed, Dec 04, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA


TAIEX closes higher

The TAIEX yesterday closed slightly higher, despite US markets incurring heavy losses overnight amid renewed concerns over a trade dispute between the US and China, dealers said. On the local bourse, late-session buying of select large-cap stocks in the electronics and non-technology sectors helped the market recoup its early losses and close in positive territory, they said. The benchmark index closed up 28.75 points, or 0.25 percent, at the day’s high of 11,531.58 on turnover of NT$107.360 billion (US$3.52 billion), Taiwan Stock Exchange data showed. Foreign institutional investors bought a net NT$4.57 billion of shares, the data showed.


Product labeling bill passed

A bill to increase the fines for fraudulent labeling of the origin of products was passed by the legislature yesterday. The amendments to the Foreign Trade Act (貿易法) raise the maximum fine for using fake trade certificates or placing fraudulent labels of origin on exports and imports from NT$300,000 to NT$3 million. The minimum fine has been doubled, from NT$30,000 to NT$60,000, as part of the nation’s efforts to prevent the transshipment of Chinese products to the US, the Cabinet said. The increased fines also apply to authorized organizations that issue illegal certificates of origin, it said.


Nanya revenue slumps

DRAM memorychip maker Nanya Technology Co (南亞科技) yesterday posted revenue for last month of NT$4.26 billion, a 21.1 percent year-on-year decline compared with NT$5.4 billion a year earlier. On a monthly basis, revenue contracted 5.73 percent, the company said in a statement. Last month’s revenue was the lowest since June. In the first 11 months of the year, Nanya posted revenue of NT$47.4 billion, a 40.67 percent decline from NT$79.89 billion in the same period last year due to lower DRAM prices.


CHPT revenue up 33.7%

Chunghwa Precision Test Technology Co (CHPT, 中華精測), which provides wafer and chip testing services, yesterday posted revenue of NT$343.82 million for last month, up 33.7 percent from NT$257.16 million in the same period last year. That represented a 2.8 percent month-on-month decline from NT$353.65 million in October. In the first 11 months of the year, CHPT posted revenue of NT$3.08 billion, up 0.4 percent from NT$3.06 billion in the same period last year. The company said it is to book NT$260 million of depreciation costs this year for its new research-and-development center in Taoyuan.


CPC opens New Delhi office

State-run oil supplier CPC Corp, Taiwan (CPC, 台灣中油) on Monday opened a representative office in New Delhi as part of its plans to set up a plant in India. CPC is in negotiations with state-owned Indian Oil Corp to jointly set up a US$800 million plant to produce propylene derivatives, CPC president Lee Shun-chin (李順欽) said at the opening ceremony. Propylene derivatives, which are used in the production of a wide range of items such as acrylic resin and raw materials for computer monitors, are in short supply in India and demand is expected to increase sharply due to the large population and fast-growing economy, he said.

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