New Kinpo Group (新金寶集團) yesterday said it plans to launch production of masks and ventilators next month to help combat the spread of COVID-19.
The electronics conglomerate said it would leverage its overseas production capacity to help meet the needs of local healthcare systems in Southeast Asia and the US.
Production lines for masks and ventilators would be set up through its subsidiaries, including Cal-Comp Electronics and Communications Co Ltd (泰金寶) and Kinpo Electronics Inc (金寶) at plants in the Philippines, Thailand and the US, and the group has obtained the necessary permits from government authorities, Kinpo said in a statement.
“We will have a combined output of 2 million surgical masks and 1,000 ventilators per month,” a group official surnamed Koo (顧) told the Taipei Times by text message.
Citing Kinpo’s long-established presence in the Philippines and Thailand, New Kinpo chief executive officer Simon Shen (沈軾榮) said in the statement that the group has a responsibility to provide assistance to local governments as they face an apparent shortage of medical supplies.
The group would also donate about 200 3D masks to health professionals in Taiwan, Shen said.
Kinpo posted a 17.56 percent year-on-year decline in net profit for last year of NT$453.74 million (US$15.04 million).
This translated into earnings per share of NT$0.34, down from NT$0.41 in 2018.
The group’s board of directors last week proposed issuing a NT$0.3 cash dividend per share, which would represent a payout ratio of 88.24 percent.
The dividend must be approved by Kinpo shareholders at this year’s annual general meeting on June 22.
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