Taipei Game Show canceled
The Taipei Game Show has been canceled due to the COVID-19 pandemic, the Taipei Computer Association (台北電腦公會) said yesterday. The annual expo was originally scheduled for February, but the association on Jan. 31 postponed it until June 25 to 28 after the WHO declared the outbreak a public health emergency of international concern. As the Central Epidemic Command Center yesterday advised against indoor gatherings of more than 100 people, the association said in a statement that it and most participating companies had agreed to call off the show this year.
China approves ASE merger
The Chinese Ministry of Commerce’s Anti-Monopoly Bureau has lifted restrictions on the merger of Advanced Semiconductor Engineering Inc (日月光半導體) and Siliconware Precision Industries Co Ltd (矽品精密), ASE Technology Holding Co (日月光投控) said yesterday. The companies announced on June 30, 2016, that they planned to merge and establish a holding company. Previously, the transaction had been approved by various anti-trust authorities in different jurisdictions, including a conditional approval by the bureau on Nov. 24, 2017, the world’s largest chip packaging and testing firm said.
Kuang Hong proposes payout
Entertainment service provider Kuang Hong Arts Management Inc (寬宏藝術) yesterday said its board has proposed distributing a cash dividend of NT$4.5 per share, which suggested a dividend yield of 10.7 percent as the company’s shares closed at NT$42.05 in Taipei trading. The planned payout is greater than last year when the company distributed a cash dividend of NT$2 per share, plus a stock dividend of NT$1 each. Kuang Hong also said that the COVID-19 outbreak would negatively affect its business in the first half of this year. Its sales last year rose 39.26 percent to NT$1.61 billion (US$53.1 million), from NT$1.16 billion in 2018.
Everlight income grows
LED chip packager and tester Everlight Electronics Co (億光) yesterday reported that net income last year grew 3.68 percent year-on-year to NT$822 million, or earnings per share of NT$1.86, from a better product mix and the high-end application market. Gross margin improved 0.99 percentage points to 24.46 percent and operating margin rose 0.29 percentage points to 3.98 percent, the company said in a financial statement. However, revenue decreased 12.96 percent to NT$20.97 billion, due to US-China trade tensions and declining LED product prices. The company’s board has proposed distributing a cash dividend of NT$1.4 per share, down from NT$1.5 last year, but suggesting a payout ratio of 75.27 percent.
Cheng Shin income drops
Cheng Shin Rubber Industry Co (正新橡膠), which sells its products under the Maxxis brand, on Tuesday reported net income of NT$3.4 billion for last year, down from NT$3.52 billion in 2018, due to continued weakness in the Chinese auto market. Earnings per share fell to NT$1.04 from NT$1.09 in 2018, although revenue edged up NT$109.57 billion, compared with NT$109.49 billion in 2018. The Changhua County-based company’s board has proposed distributing a cash dividend of NT$1 per share, down from the NT$1.1 it paid out a year earlier.
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the
SCATTERED: Production would be dispersed among a number of countries, which would bring an end to so-called world factories, Hon Hai chairman Young Liu said Decentralized production would be the new focus in manufacturing, Hon Hai Precision Industry Co (鴻海精密) chairman Young Liu (劉揚偉) yesterday told an online forum held by the Market Intelligence & Consulting Institute (MIC, 產業情報研究所). “The COVID-19 pandemic exerted a heavy impact on supply chains as well as production ... [production] would no longer be concentrated in solely one country, this is the end of what we used to call world factories,” Liu said during a panel discussion hosted by MIC director Victor Tsan (詹文男). As the US and China continue to dominate and sway international relations, the rest of the world is
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five