DISPLAYS
AU Optronics secures loan
Flat-panel maker AU Optronics Corp (AUO, 友達光電) has secured a syndicated loan of NT$32.5 billion (US$1.08 billion) from 15 lenders, led by Bank of Taiwan (臺灣銀行), Chang Hwa Commercial Bank (彰化銀行), Taiwan Cooperative Bank (合作金庫銀行) and Hua Nan Commercial Bank (華南銀行), it said in a news release yesterday. AUO plans to use the loan to fund its mid-term operating capital after posting losses of NT$19.19 billion for last year. As the syndicated loan is significantly oversubscribed, AUO said it has obtained a much higher bankroll than its original estimate of NT$26 billion.
COMPONENTS
Walsin sets conversion price
Passive components maker Walsin Technology Corp (華新科技) yesterday announced a conversion price of NT$240 per share for its first domestic unsecured convertible bond issue. The price represents a premium of 20 percent to its closing share price of NT$200 on Monday, it said in a regulatory filing. Walsin’s board of directors in late February decided on the NT$4.8 billion issue, with a maturity of four years and a zero coupon rate. The proposal was approved on March 25 by the Financial Supervisory Commission. Walsin plans to use the proceeds to purchase new facilities and equipment.
ELECTRONICS
Hon Hai expanding in Brazil
Hon Hai Precision Industry Co (鴻海精密) is to set up assembly lines for Apple Inc’s iPhone SE in Brazil, the US-based media outlet 9to5Mac.com reported yesterday, citing recently published documents from Brazil’s National Telecommunications Agency. The documents named Hon Hai’s local unit in Brazil, Foxconn Brasil Industria e Comercio Ltda, as one of the manufacturers. Hon Hai’s move might be driven by the high taxes that the Brazilian government imposes on imported products, which can be reduced through investments in local production, the report said, adding that Hon Hai previously manufactured the iPhone XR in the country for the same purpose.
CONSTRUCTION
Chang Hong sets dividend
Chang Hong Construction Co’s (長虹建設) board on Monday proposed a plan to distribute a cash dividend of NT$6.3 per share based on last year’s earnings per share (EPS) of NT$10.93. The proposed dividend is the highest in six years and represents a payout ratio of 57 percent. It also indicates a dividend yield of 8.6 percent based on the stock’s closing price of NT$73 on Monday. The company added that it has signed a deal with a landowner in Taipei to jointly develop an office building project in Neihu District (內湖). Chang Hong reported a net income of NT$3.17 billion for last year, down 23.84 percent year-on-year, while revenue declined 20.56 percent to NT$9.62 billion.
FOOD
Namchow profit falls 19.9%
Namchow Holdings Co (南僑投資控股), which produces baking oil and frozen dough, yesterday reported that net income last month fell 19.9 percent year-on-year to NT$50.9 million, or EPS of NT$0.21, due to the COVID-19 pandemic. Although the company swung back into profit last month, compared with losses of NT$65.01 million in February, net income in the first quarter still dropped 64 percent from a year earlier to NT$70.98 million, or EPS of NT$0.29. First-quarter revenue decreased 14.8 percent annually and 26.9 percent quarterly to NT$3.59 billion, the company said.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
PRECEDENTED TIMES: In news that surely does not shock, AI and tech exports drove a banner for exports last year as Taiwan’s economic growth experienced a flood tide Taiwan’s exports delivered a blockbuster finish to last year with last month’s shipments rising at the second-highest pace on record as demand for artificial intelligence (AI) hardware and advanced computing remained strong, the Ministry of Finance said yesterday. Exports surged 43.4 percent from a year earlier to US$62.48 billion last month, extending growth to 26 consecutive months. Imports climbed 14.9 percent to US$43.04 billion, the second-highest monthly level historically, resulting in a trade surplus of US$19.43 billion — more than double that of the year before. Department of Statistics Director-General Beatrice Tsai (蔡美娜) described the performance as “surprisingly outstanding,” forecasting export growth
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