ELECTRONICS
Largan sales up 4 percent
Smartphone camera lens supplier Largan Precision Co (大立光) yesterday reported that unaudited sales last month rose 4 percent monthly and 17 percent annually to NT$4.51 billion (US$147.68 million). Sales in the first half of the year came to NT$21.17 billion, 4.28 percent lower than a year earlier, the company said. Largan is scheduled to hold its quarterly earnings conference on Thursday next week and investors are likely to focus on the company’s production yield rate and margin expansion as its top line grows.
CASINGS
Catcher upbeat on demand
Catcher Technology Co (可成科技), a metal casing supplier for Apple Inc, yesterday reported revenue of NT$7.2 billion for last month, up 3.6 percent month-on-month, but down 1.2 percent year-on-year. In the first six months, cumulative revenue totaled NT$41.16 billion, up 24.4 percent from a year earlier, the company said. Favorable industry trends of rising metal casing adoption and design complexity are expected to benefit Catcher due to its leading industry position, analysts said.
ELECTRONICS
Acquisition boosts Chilisin
Chilisin Electronics Corp (奇力新), the nation’s largest power inductor manufacturer, yesterday reported record sales of NT$1.71 billion for last month, up 71.65 percent year-on-year, which the company attributed to contribution from its newly acquired subsidiary Layers Scientific-Technics Co Ltd (美磊). In the first six months, cumulative sales totaled NT$7.38 billion, an annual increase of 26.53 percent, Chilisin said in a filing with the Taiwan Stock Exchange.
ELECTRONICS
Getac posts record revenue
Rugged PC vendor Getac Technology Corp (神基) yesterday posted record-high consolidated revenue of NT$2.07 billion for last month, up 14.21 percent year-on-year. In the first half of the year, revenue totaled NT$11.395 billion, up 11.44 percent from a year earlier. Sales in the second half are likely to maintain sequential growth driven by seasonal factors, analysts said.
HOSPITALITY
Humble House in shake-up
My Humble House Hospitality Management Consulting Co (寒舍餐旅) yesterday called a special board meeting and approved the appointment of managing director Wilhelm Tsai (蔡伯翰) as its chairman. Tsai served as acting chairman after Ellie Lai (賴英里) resigned on June 27 for personal reasons. Tsai, who joined the group in 2003, is to double as managing director, while Lai is to remain a board director, the company said.
FOREX
Reserves down US$153m
Foreign-exchange reserves amounted to US$457.12 billion as of the end of last month, a decline of US$153 million from the level in May, the central bank said yesterday. The depreciation of the euro and other currencies against the US dollar more than eroded asset management gains, the bank said.
BANKING
First Bank eyes Jakarta
First Commercial Bank (第一銀行) has obtained approval from the Financial Supervisory Commission to establish a representative office in Jakarta. The bank on Wednesday said it is awaiting approval from Indonesian authorities to set up its 17th office in Southeast Asia. The lender had a representative office in Jakarta before 2000, when it shuttered the office in light of the Asian financial crisis that began in 1997.
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
CUSTOMERS’ BURDEN: TSMC already has operations in the US and is a foundry, so any tariff increase would mostly affect US customers, not the company, the minister said Taiwanese manufacturers are “not afraid” of US tariffs, but are concerned about being affected more heavily than regional economic competitors Japan and South Korea, Minister of Economic Affairs J.W. Kuo (郭智輝) said. “Taiwan has many advantages that other countries do not have, the most notable of which is its semiconductor ecosystem,” Kuo said. The US “must rely on Taiwan” to boost its microchip manufacturing capacities, Kuo said in an interview ahead of his one-year anniversary in office tomorrow. Taiwan has submitted a position paper under Section 232 of the US Trade Expansion Act to explain the “complementary relationship” between Taiwan and the US
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