PHARMACEUTICALS
ScinoPharm receives ANDA
ScinoPharm Taiwan Ltd (台灣神隆) on Friday said its generic fondaparinux sodium injectable product has secured the US Food and Drug Administration’s approval for an abbreviated new drug application (ANDA). Fondaparinux sodium is a generic injectable product for anticoagulation. The company reported net income of NT$82.61 million (US$2.67 million) for the third quarter of this year, down 22.8 percent annually, with earnings per share (EPS) of NT$0.1, while revenue fell 3.67 percent to NT$817.71 million.
SHIPPING
Wan Hai to buy containers
Wan Hai Lines Ltd (萬海航運) on Friday said it would purchase new containers to renew its container fleet. The shipping company said it plans to buy 16,100 containers at US$2,430 per unit on average from Hong Kong-listed Singamas Container Holdings Ltd (勝獅貨櫃企業). The total cost would be US$39.12 million, Wan Hai said. The company reported net income of NT$430.68 million last quarter, down 66.25 percent annually, with EPS of NT$0.19. Revenue rose 9.58 percent to NT$17.33 billion.
ELECTRONICS
Acer income down 20.83%
Acer Inc (宏碁) on Thursday said that net income last month fell 20.83 percent annually to NT$228 million, with EPS of NT$0.08. Revenue also declined 11.12 percent to NT$19.96 million. Acer was required by the Taiwan Stock Exchange to release last month’s financial results after its shares became volatile in the past few sessions, with a decline of more than 11 percent this month. In the first 10 months of this year, the company’s EPS reached NT$0.91, while cumulative revenue rose 3.05 percent to NT$198.57 billion.
PROTECTIONISM: China hopes to help domestic chipmakers gain more market share while preparing local tech companies for the possibility of more US sanctions Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence (AI) chips instead of Nvidia Corp products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, sources familiar with the matter said. The policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid handicapping its own AI start-ups and escalating tensions with the US, said the sources, who asked not to be identified because the
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
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