FTC releases survey
The Fair Trade Commission (FTC) on Thursday released the results of an annual survey of multilevel marketing enterprises, which showed that total sales by the 339 enterprises increased 0.57 percent to NT$88.619 billion (US$2.88 billion) last year from NT$88.121 billion in 2016. Nutrition supplements remained the mainstay of the products last year, with sales of NT$53.441 billion, or 60.3 percent of overall sales, followed by cosmetic and personal care products, with sales of NT$16.112 billion, or 18.18 percent of the total.
SSFC net profit jumps 243%
Polyester fiber and plastics maker Shinkong Synthetic Fibers Corp (SSFC, 新光合成纖維) on Wednesday said it is optimistic about revenue and earnings for this year, citing its involvement in high-value products such as 3D printing materials and automotive engineering plastics, and a stable price outlook for polyester fiber products. It posted net profit of NT$1.11 billion in the first half of the year, up 243 percent year-on-year, with earnings per share rising from NT$0.2 to NT$0.69. First-half sales increased 17.8 percent to NT$20.52 million.
WITSC net profit rises
Wistron Information Technology & Services Corp (WITSC, 緯創軟體) reported net profit of NT$114.01 million in the first half of this year, up 191.73 percent from a year earlier, with earnings per share of NT$2.39. Sales in the second half are expected be higher than NT$1.77 billion in the first half, an annual increase of 34 percent, chief executive officer Ching Hsiao (蕭清志) said. The company, which provides consulting and information technology outsourcing services, plans to issue 12 million new shares to raise up to NT$700 million for future expansion needs.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion