AUTO PARTS
QST suspends share trading
The Taipei Exchange on Saturday approved QST International Corp’s (恒耀) request to suspend share trading today ahead of an view important information disclosure. QST is a global top-10 automotive fastener supplier. The company’s capacity expansion in China and global mergers and acquisitions have allowed it to ride the electric vehicle and lightweight material development uptrends, ending last year with a net income of NT$938 million (US$32.1 million), up 34 percent year-on-year, with record-high earnings per share of NT$6.98.
BANKING
Offshore units’ assets drop
The 60 offshore banking units (OBUs) of financial institutions operating in Taiwan had assets totaling US$205.52 billion as of the end of February, down US$419 million (0.2 percent) from January, the central bank said on Saturday. The OBUs of 37 local banks held US$181.81 billion in assets, while foreign banks’ 23 OBUs held US$23.72 billion, the central bank said. At the end of February, the primary uses of all OBUs’ funds were discounts and loans, amounting to US$81.4 billion, or 39.6 percent of total assets, the statement said.
MEDIA
VHQ reports record earnings
Singapore-based post production house VHQ Media Holdings Ltd on Friday reported record-high earnings for last year and said it expects better growth momentum for the first half of next year. Consolidated revenue increased 25.78 percent year-on-year to NT$1.296 billion last year, VHQ said. Operating income grew 67.94 percent to NT$465 million and net income expanded 43.43 percent to NT$324 million, with earnings per share of NT$10.05.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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