President Chain Store Corp (
The board of the President Chain yesterday approved an investment of 100 million yuan (US$12.5 million) to be used in opening supermarkets in Chengdu, Sichuan Province, according to a filing to the Taiwan Stock Exchange.
The company has not yet made a decision on the specific number of stores to be opened in Chengdu, said Lillian Lin (
The President Chain invested in a supermarket chain in Beijing in 2004, and opened a Unimart (
The board also approved a proposal to increase investment by US$333,000 in its Shanghai Starbucks coffee stores, another company filing said.
Earlier in the shareholder meeting, the board decided to assign a record high NT$3.4 cash dividend to its shareholders, after its marketing strategy of handing out Hello Kitty magnets and brooches struck the right note with consumers.
With its 4,037 7-Eleven stores at the end of last year, the President Chain reported sales of NT$93.7 billion and after-tax earnings of NT$3.65 billion, or NT$3.99 per share. The company saw its highest earnings in 2003, when the earnings-per-share reached NT$4.29.
"We think we can see sales hit the NT$100 billion mark this year," Hsu Chung-jen (
He said that the company planned to expand the number of 7-Eleven stores in the country to 4,300 by the end of the year.
The dilemma over consumer credit defaults did not have a significant impact on the the President Chain's operations, with sales growing 12 percent to NT$39.35 billion for the first five months of the year from the same period a year earlier.
Separately, Taiwan FamilyMart Co (
The chain reported revenues of NT$29.68 billion last year, growing by 8.46 percent from a year ago. Pre-tax profits for last year topped NT$890 million, rising by 5.75 percent year-on-year. Earnings per share were NT$3.28.
As of Dec. 31 last year, the chain ran 1,851 stores nationwide, or a net increase of 151 outlets from the previous year, the statement said.
additional reporting by Jackie Lin
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation. “The advantage that Taiwan has is a growth story linked to the semiconductor and broader AI industries, strong underlying corporate performance, and wealth creation,” said Surendra Rosha, HSBC’s co-chief executive for Asia and the Middle East, in an exclusive interview with the Taipei Times on June 2, during this year’s HSBC Taiwan Conference. That combination has helped HSBC cement its position as the most profitable international
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
RSS