Hon Hai sticks with dividend
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would stick with its original plan to distribute a NT$1.5 cash dividend and 10 percent stock dividend per common share as the Ministry of Economic Affairs said shareholders’ demands that the company increase the cash dividend by NT$1 were not valid. The ministry said that, based on Company Act (公司法), the shareholders’ proposal at the annual general meeting on June 26 was not valid because most had voted to support the original dividend distribution plan via the Internet.
E.Sun opens Yangon office
E.Sun Commercial Bank (玉山銀行) yesterday opened a representative office in Yangon, Myanmar, as the lender seeks to tap the Southeast Asian emerging market. The office will focus on gathering business intelligence to help customers better understand the local market.
Xiaomi ships 7.02m phones
China’s Xiaomi Corp (小米) said on Tuesday it had shipped 7.02 million smartphones in the first half of the year, achieving almost half of the company’s annual shipment target of 15 million. Last year, the Beijing-based company shipped 7.19 million smartphones. The company said revenue totaled 13.27 billion yuan (US$2.163 billion) in the first half of the year, surpassing its annual revenue of 12.6 billion yuan last year.