EQUITIES
TAIEX breaches 11,100
The TAIEX yesterday extended its momentum from a session earlier to close above 11,100 points, as buying was seen almost across the board, led by large-cap technology and financial shares. While the index breached the stiff technical resistance level ahead of the 120-day moving average of 11,087 points, turnover remained moderate, dealers said. The TAIEX closed up 48.91 points, or 0.44 percent, at 11,127.93. Turnover was NT$179.195 billion (US$5.98 billion). Foreign institutional investors bought a net NT$1.73 billion of shares, Taiwan Stock Exchange data showed.
ELECTRONICS
Yageo secures NT$48.5bn
Yageo Corp (國巨), the world’s No. 3 supplier of multilayer ceramic capacitors, yesterday secured a syndicated loan of NT$48.5 billion from 22 lenders led by Bank of Taiwan (台灣銀行) and Mega International Commercial Bank (兆豐銀行). It was the biggest syndicated loan obtained by a local company in the past two years, Yageo said in a statement. The syndicated loan is 60 percent higher than the company’s original plan, it said. Yageo plans to use the loan to fund its expansion and the acquisition of US firm Kemet Corp.
BANKING
King’s Town income dips
King’s Town Bank (京城銀行) yesterday posted net income of NT$328.89 million for last month, or earnings per share of NT$0.29, an 8.36 percent year-on-year decline. In the first five months of the year, consolidated net income decreased 39.25 percent year-on-year to NT$1.61 billion, or earnings per share of NT$1.44. The lender’s non-performing loan ratio was 0.02 percent as of Sunday, while its overdue loan coverage ratio was 9,044.26 percent and its loan loss provision ratio 1.4 percent.
ELECTRONICS
Hon Hai salaries decrease
The average annual income of Hon Hai Precision Industry Co (鴻海精密) employees in Taiwan was NT$2.727 million last year, Market Observation Post System data showed. The figure included base salary, bonuses and stock dividends, and was a decrease from 2018’s average of NT$3.23 million per employee. Factoring in pensions and insurance payments, the 4,105 Hon Hai employees in Taiwan received an average income of NT$2.974 million last year, the data showed.
CHIPMAKERS
AMD’s Su tops salary list
Advanced Micro Devices Inc (AMD) chief executive officer Lisa Su (蘇姿豐) was the highest-paid CEO of a firm in the S&P 500 last year, according to an annual review compiled by The Associated Press and executive compensation analysis firm Equilar. Tainan-born Su was the first female CEO to top the annual review since it began in 2011. She earned US$58.5 million last year, according to the study, which examined the compensation of the CEOs of S&P 500 firms who had been in their roles for at least two years as of the end of last year.
CHIP DESIGNERS
Huawei reports denied
MediaTek Inc (聯發科) yesterday denied media reports that Huawei Technologies Co (華為) was using the company to avoid US restrictions on procurement from Taiwan Semiconductor Manufacturing Co (台積電). MediaTek said the reports were incorrect, and could mislead investors and the public. The firm said that it has always complied fully with global trade regulations, and its mobile products are standard and not customized to meet the needs of any particular customer.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
Pegatron Corp (和碩), an iPhone assembler for Apple Inc, is to spend NT$5.64 billion (US$186.82 million) to acquire HTC Corp’s (宏達電) factories in Taoyuan and invest NT$578.57 million in its India subsidiary to expand manufacturing capacity, after its board approved the plans on Wednesday. The Taoyuan factories would expand production of consumer electronics, and communication and computing devices, while the India investment would boost production of communications devices and possibly automotive electronics later, a Pegatron official told the Taipei Times by telephone yesterday. Pegatron expects to complete the Taoyuan factory transaction in the third quarter, said the official, who declined to be
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