Tue, Sep 15, 2020 page11

• Taiwan Business Quick Take

  • Staff writer, with CNA
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  EQUITIES

  TAIEX breaches 12,700

  The TAIEX yesterday moved higher to close above 12,700, as Apple Inc suppliers and other tech shares attracted buying ahead of the expected release of new iPhone models. However, turnover was low as investors waited on the sidelines to see what decisions would be made by major central banks later this week amid the COVID-19 pandemic, dealers said. The TAIEX closed up 111.87 points, or 0.88 percent, at 12,787.82. Turnover was NT$178.884 billion (US$6.07 billion), falling short of the NT$197.3 billion average over the previous five sessions, they said. Foreign institutional investors bought a net NT$9.58 billion of shares, Taiwan Stock Exchange data showed.

  ELECTRONICS

  VLI application approved

  The Securities Listing Review Committee of the Taiwan Stock Exchange yesterday approved an initial listing application from VIA Labs Inc (VLI, 威鋒電子), the exchange said in a statement. VLI, which is 66.22 percent owned by chip designer VIA Technologies Inc (威盛電子), is a supplier of USB and USB power delivery controllers for multifunctional devices and platforms. With paid-in capital of NT$600 million, the company reported earnings per share of NT$2.1, NT$2.07 and NT$4.05 from 2017 to last year respectively. In the first six months of this year, the company posted net income of NT$156 million, up 49 percent year-on-year, or earnings per share of NT$2.61. Revenue totaled NT$933 million in the first six months, up 35 percent year-on-year. VLI shares closed up 10 percent at NT$351 on the Emerging Stock Board.

  RESTAURANTS

  Kura Sushi Asia set to debut

  Kura Sushi Asia Co Ltd (亞洲藏壽司), the Taiwanese subsidiary of Japanese sushi chain Kura Sushi Inc, is to list on the Taipei Exchange on Thursday, with chairman Kentaro Nishikawa saying that the debut is motivated by the idea of boosting its stronghold in Taiwan before expanding into other Asian nations. Established in 2014, Kura Sushi Asia operates 27 outlets in Taiwan. The group has 477 outlets in Japan, while its US subsidiary, established in 2009, operates 25 outlets.

  PROPERTY

  Hotel project scrapped

  Formosa International Hotels Corp (晶華酒店) yesterday said that it has terminated a plan to develop an office building into a new hotel with Chunghwa Post Co (中華郵政), as the work schedule — including urban design and urban renewal reviews, and applications for building permits — would take longer than expected. The company said that as it does not expect to start work on the project before the end of this year, the two sides have agreed to terminate it. The plan had been to convert an office building into a hotel under the Silks Place (晶英酒店) brand.

  CHIPMAKERS

  TSMC to pay Sports bonus

  Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is to pay NT$504 million of special Sports Day bonuses to its employees, even though the event has been postponed due to the COVID-19 pandemic. TSMC said that it would issue a bonus of NT$12,000 to each of its employees in Taiwan who joined the company before May 31. About 42,000 employees are eligible for the bonus, meaning that NT$504 million would be paid out in employees’ salaries next month, the company said. While this year’s payment per employee is the same as last year, each employee is also to receive a NT$1,000 merchandise voucher, TSMC said.
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