Taiwan Business Quick Take

Staff writer, with agencies

Tue, Jan 13, 2015 - Page 14

TAX

Treasury collects NT$1.96tn

The national treasury collected a record NT$1.96 trillion (US$61.26 billion) in tax revenues last year, 4.8 percent higher than the budget target, driven primarily by business and personal income taxes, the Ministry of Finance said yesterday. Business income tax totaled NT$401.2 billion last year, while personal income tax amounted to NT$408.3 billion, the ministry said.

ELECTRONICS

Acer revenue falls

PC maker Acer Inc (宏碁) yesterday reported revenue of NT$85.67 billion for the last quarter, down 1.17 percent from a year earlier and 0.11 percent from the previous month. The firm posted revenue of NT$86.69 billion in the fourth quarter of last year and NT$85.68 billion in the previous quarter, according to a company filing with the Taiwan Stock Exchange. Acer’s consolidated annual revenue totaled NT$329.83 billion last year, a decline of 8.43 percent from the previous year’s NT$360.19 billion. Acer shares dropped 1.43 percent to NT$20.65 in Taipei trading yesterday, underperforming the TAIEX, which fell 0.4 percent.

BANKING

FSC approves Wuhan branch

State-run Taiwan Business Bank (臺灣企銀) has won the the Financial Supervisory Commission’s (FSC) approval to set up a new branch in Wuhan, China, allowing the lender to strengthen services to Taiwanese firms in central China, the bank said in a statement yesterday. The new branch will be its second in China — the first was opened in Shanghai in August 2012. Wuhan, the eighth-largest city in China, is home to many Taiwanese aiming to take advantage of China’s GDP growth, the bank said, adding that it would reach out to small and medium-sized corporate customers there.

TECHNOLOGY

Hiwin posts revenue hike

Hiwin Technology Corp (上銀科技), the nation’s largest machine tool maker, last week reported NT$4.28 billion in sales for last quarter, bringing the company’s total revenue last year up 21.25 percent to NT$15.08 billion. The company made annual revenue of NT$12.44 in 2013. Last quarter’s figure jumped 10.59 percent from the previous year’s NT$3.87 billion, but only rose 1.18 percent from the previous quarter’s NT$4.23 billion. JPMorgan Securities Ltd said Hiwin’s sales growth momentum would resume from this quarter, due to healthy order momentum from machine tool vendors and incremental demand for industrial robots. Contribution from industrial robots is forecast to account for 10 to 15 percent of the company’s estimated revenue of NT$17.69 billion this year, JPMorgan said in a note on Thursday last week.

OPTICS

St Shine struggles in Japan

Contact lens maker St Shine Optical Co Ltd (精華光學) might continue losing market share in Japan this year due to intense market competition and continued pricing pressure stemming from foreign exchange fluctuations, Deutsche Bank said in a client note on Wednesday last week. The company has forecast flat sales growth for this quarter from last quarter’s NT$1.34 billion, which rose 0.8 percent from the previous quarter, with momentum likely to pick up next quarter when clients launch new products. Deutsche Bank forecast St Shine to post 6 percent growth in year-on-year sales to NT$5.74 billion this year. Last year, the company’s sales totaled NT$5.41 billion, up 3.62 percent from 2013.