YFY to pay NT$0.7 dividend
Papermaking conglomerate YFY Inc (永豐餘控股) yesterday announced a cash dividend of NT$0.7 per common share, up from NT$0.6 per share last year and the highest payout since 2012, after its net income last year rose 58.7 percent to NT$2.29 billion (US$75.56 million), or earnings per share of NT$1.38, the highest since 2004. However, revenue last year dropped 2.2 percent annually to NT$74.76 billion due to fluctuations related to global economic conditions and raw material prices, YFY said, adding that it remained cautious about its business outlook in the short term due to the COVID-19 pandemic, after revenue in the first two months of this year fell 9.74 percent annually to NT$9.89 billion.
Yummy Town income soars
Yummy Town Holdings Corp (雅茗天地集團), which operates restaurant and tea brands worldwide, yesterday reported that net income last year increased 25.5 percent year-on-year to NT$129 million, or earnings per share of NT$3.8, while revenue grew 2 percent annually to a record-high NT$2.22 billion. The company has proposed distributing a dividend of NT$3 per share and is planning a share buyback program to stop a decline in its stock price. Yummy said that it would purchase up to 1 million common shares on the open market at between NT$42 and NT$82, but did not specify the time frame. The company’s shares yesterday rose 9.62 percent to NT$58.1 in Taipei trading. They have dropped 9.22 percent this year.
Aleees’ net losses narrow
Advanced Lithium Electrochemistry Co (Aleees, 立凱電能), a Taiwanese supplier of lithium iron phosphate cathode material used in electric vehicle batteries, yesterday reported net losses of NT$53 million for the first two months of the year, or losses per share of NT$0.22. The company said in a statement that the losses were less than net losses of NT$62 million a year earlier, suggesting that its operation is healthy. Combined revenue in the first two months decreased 8 percent annually to NT$24 million, which the company attributed to disruptions caused by the pandemic on industrial supply chains. Orders have not been cut by clients, but deferred to following months, the company said.
Chaun-Choung income rises
Chaun-Choung Technology Corp (超眾), which supplies heat-dissipation modules for PCs and networking devices, on Wednesday reported that net income last year rose 17.79 percent to NT$702 million, or earnings per share of NT$8.12, while revenue increased 12.06 percent year-on-year to NT$8.59 billion. The company’s board has approved distributing a cash dividend of NT$4.87 per share and decided to start the construction of manufacturing facilities in Vietnam through a new subsidiary, Nidec Chaun Choung Vietnam Corp.
Apple mulling delay: paper
Apple Inc is weighing a delay on the release of its 5G iPhone, as the pandemic threatens to sap demand and disrupt its product development schedule, the Nikkei reported yesterday, citing three unnamed people familiar with the matter. The company has held internal discussions on a possible delay of “months,” the newspaper said, citing the three people. Issues with the supply chain could also push back the handset’s release, it said, citing unnamed supply-chain sources. Apple is likely to make a final decision in about May, it added. Apple declined to comment.
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, is to issue NT$13.9 billion (US$469.5 million) in unsecured bonds to help fund its plan to expand production capacity, it said on Friday. In a Taiwan Stock Exchange filing, TSMC said the bonds would comprise three tranches: NT$5.7 billion payable over five years, NT$6.3 billion over seven years and NT$1.9 billion over 10 years. The interest rates would be 0.58 percent on the five-year bonds, 0.65 percent on the seven-year ones and 0.67 percent on the 10-year tranche, TSMC said. Capital Securities Corp (群益金鼎證券) is to serve as the main underwriter in