RETAIL
CPC plans stores at stations
State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday outlined plans to expand into the convenience store business in an effort to stave off a string of losses amid falling international crude oil prices. The company had set a goal of NT$800 billion (US$23.9 billion) in revenue and NT$5.8 billion in profit for this year, but booked losses of NT$4 billion last month. The company hopes to use 600 directly run and 2,000 franchised gas stations across the nation as a platform to offer retail and auto maintenance services.
LOGISTICS
THI reports sales increase
THI Global Holdings Corp (台驊國際投資控股), a freight-forwarder and logistics operator, on Monday reported that sales last month rose 11.5 percent annually to NT$876 million. The bulk of contribution to sales came from operations in China and Hong Kong, which rose 2.91 percent year-on-year to represent 76.84 percent of total revenue during the period, while sales in Taiwan, representing 18.83 percent of the total, fell 13.21 percent. The company reported a slight uptick in freight volume and rates, but prices remained low amid a supply glut.
INVESTMENT
Concard net income surges
Concord Securities Co (康和證券) yesterday reported that its net income last year surged to a new six-year high of NT$226 million, or earnings per share (EPS) of NT$0.34. The company hopes to extend its streak of improvement as it continues restructuring efforts to transition into an investment bank. To reduce costs, the company plans to reduce the number of securities brokerage branches and fulfill services through digital channels, chairman Gordon Yeh (葉公亮) said.
TAXES
Tax collections dip: ministry
The Ministry of Finance yesterday said that tax collections last month totaled NT$133.1 billion, a 0.7 percent decrease from a year ago. Land value increment taxes fell by NT$4.2 billion to NT$6.6 billion, a four-year record low. Taxes levied on domestically produced new cars tumbled 40 percent annually to NT$1.3 billion, while taxes for imported cars skyrocketed 97.2 percent annually to NT$3.7 billion. Officials said that the widening gap indicates that vehicles made in Japan are gaining popularity due to the yen weakening.
TELECOMS
FET sets growth targets
Far EasTone Telecommunications Co Ltd (FET, 遠傳電信), the nation’s No. 3 telecom operator, yesterday set operating targets for this year of growing sales by 1 percent annually to NT$98.22 billion and generating net income of NT$11.09 billion, which would translate into an EPS of NT$3.4. The company also said that dividend payout would likely reach NT$3.75 per share. The company said that its 4G subscribers totaled 3.1 million as of the end of last year, with average monthly revenue per user rising 3 percent from 2014 to NT$891, which bested growth reported by rivals Chunghwa Telecom Co (中華電信) and Taiwan Mobile Corp (台灣大哥大), the company said. FET said that its operating results for last year were in line with expectations and earnings per share performance was gauged at NT$3.52, while its mobile service revenue recorded annual growth of 1.4 percent. FET shares yesterday fell 1 percent to NT$69.1 in Taipei trading, while Chunghwa Telecom rose 0.48 percent to NT$105.5 and Taiwan Mobile rose 1.5 percent to NT$101.5.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in server chips, expects revenue to decline this year due to sagging demand for 5-nanometer artificial intelligence (AI) chips from a North America-based major customer, a company executive said yesterday. That would be the first contraction in revenue for Alchip as it has been enjoying strong revenue growth over the past few years, benefiting from cloud-service providers’ moves to reduce dependence on Nvidia Corp’s expensive AI chips by building their own AI accelerator by outsourcing chip design. The 5-nanometer chip was supposed to be a new growth engine as the lifecycle
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