Taiwan Business Quick Take

Staff writer

Fri, Oct 26, 2018 - Page 11

MACHINERY

Hiwin Mikrosystem to debut

Hiwin Mikrosystem Co (大銀微系統), a subsidiary of machinery maker Hiwin Technologies Co (上銀科技), is to start trading on the Emerging Stock Board on Monday next week, the Central News Agency reported yesterday. The unit, which researches and manufactures precision machinery components, last year had paid-in capital of NT$1.06 billion (US$34.2 million) and reported revenue of NT$2.4 billion. In the first nine months of this year, revenue totaled NT$2.22 billion, up 28.94 percent from the same period last year, company data showed.

RETAIL

Sogo preps anniversary sale

Far Eastern Sogo Department Store (遠東Sogo百貨) is targeting NT$10.8 billion in sales over its 12-day anniversary period, which is to begin on Nov. 8, chairwoman Sophia Huang (黃晴雯) said yesterday. It would represent a year-on-year increase of 1.8 percent from NT$10.6 billion made last year, the retailer said. Huang said she is confident despite US-China trade tensions and a stock market slump.

ELECTRONICS

Sinbon posts record EPS

Sinbon Electronics Co (信邦電子), which produces cables, connectors and modems, yesterday reported net profit of NT$1.19 billion in the first three quarters of the year, up 21.84 percent year-on-year, with earnings per share (EPS) of NT$5.26, the highest ever for the period. However, average gross margin dropped from 25.11 percent to 24.88 percent, the company said. Sinbon also announced a 61.79 million yuan (US$8.9 million) investment in its Chinese subsidiary, Beijing Sinbon TongAn Electronics Co (北京信邦同安電子), which also produces cables and components.

SHIPPING

Evergreen to issue shares

Evergreen Marine Corp (長榮海運), the nation’s biggest shipping line, on Wednesday said its board of directors had voted to issue 300 million new shares at NT$10.7 apiece. The firm said that the proceeds are to help redeem borrowings and improve financial ratios. Eighty percent of the new shares are to be reserved for existing shareholders, while 10 percent are set aside for employees and 10 percent are to be publicly available, the company said.

ECONOMY

M1B rises on deposits

Last month’s M1B — a measure of the money in circulation — grew 5.22 percent year-on-year, slightly up from 5.21 percent in August on higher growth in passbook savings deposits, the central bank said on Wednesday. M2 — which includes the M1B, time deposits, foreign-currency deposits and mutual funds — saw annual growth decrease to 3.34 percent from 3.42 percent due to slower growth in foreign currency deposits, the bank said. For the first nine months, the average annual growth rates of M1B and M2 were 5.3 percent and 3.63 percent respectively, it said.

SEMICONDUCTORS

N American billings down

North America-based manufacturers of semiconductor equipment last month reported worldwide billings of US$2.09 billion, trade group SEMI said in a statement on Tuesday. The three-month average of worldwide billings was 6.5 percent lower than August’s US$2.37 billion, but up 1.8 percent from US$2.05 billion a year earlier, SEMI said. While equipment suppliers experienced a typical seasonal weakening last quarter, SEMI chief executive officer Ajit Manocha said he still expects investment activity to improve for the remainder of the year.