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.
STEPPING UP: The firm has also asked employees to work in split shifts from this week and to halt all but essential overseas business travel from next month Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has implemented a remote work policy for employees not on production lines in an attempt to curb the spread of COVID-19, the world’s largest contract chipmaker said yesterday. This is the first time in the Hsinchu-based company’s history that it has launched a large-scale remote work policy, joining global technology companies, such as Apple Inc and Google, that encourage employees to work from home. The chipmaker has also asked employees to work in split shifts from this week, it said. As the number of virus infections continues to climb worldwide, TSMC has urged employees to halt unnecessary
A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside. As COVID-19 grips the world, it might just be the safest place to work right now. The teams belong to ASML Holding NV, which holds a de facto monopoly on the industry of
DBS Bank Ltd yesterday hacked its GDP growth forecast for Taiwan this year to 0.9 percent, down from its estimate of 2.3 percent two months earlier, in light of the COVID-19 pandemic and increasing financial market volatility. The bank’s latest forecast was even lower than London-based IHS Markit Ltd’s estimate of 1 percent, while other research institutes’ projections range from 1.6 percent to 2.6 percent. Taiwan’s economic momentum is being negatively affected by the pandemic, DBS said. The rapid spread of the disease from Asia to Europe and the US has dampened the bank’s previous expectation of a “V-shaped” global rebound in the
DOWNSIDE RISKS: Firms have a ‘very low’ chance of boosting investment returns in the next two years, making it hard for them to improve their capitalization, an analyst said Taiwanese life insurers wanting to improve their capital structure face strong headwinds this year, given prolonged low interest rates and economic impacts derived from trade protectionism and the COVID-19 pandemic, Taiwan Ratings Corp (中華信評) said on Friday. The local life insurance sector also still has high asset risks and such risks are susceptible to market volatility, the local arm of Standard & Poor’s Global Ratings said. Since last year, major financial holding companies — including CTBC Financial Holding Co (中信金控), Cathay Financial Holding Co (國泰金控) and Shin Kong Financial Holding Co (新光金控) — have announced plans to raise fresh capital to