EQUITIES
Foreign investors sell up
Foreign investors last week sold a net NT$44.18 billion (US$1.53 billion) of shares, after they bought a net NT$52.71 billion the previous week, the Taiwan Stock Exchange said yesterday. The top three shares sold by foreign investors were Innolux Corp (群創), AU Optronics Corp (友達光電) and Acer Inc (宏碁), while the top three purchased were Shin Kong Financial Holding Co (新光金控), China Steel Corp (中鋼) and Cathay Financial Holding Co (國泰金控), the exchange said. As of Friday last week, foreign investors had sold a net NT$608.04 billion of shares this year, while foreign investors accounted for 44.15 percent of market capitalization over the period, it said.
EQUITIES
Pharmally fails to file
A total of 930 domestic and primary-listed companies completed the filing of their third-quarter financial statements before yesterday’s deadline, the Taiwan Stock Exchange said, while 14 financial holding companies do not have to submit their statements until the end of this month. However, Pharmally International Holding Co (康友製藥) did not submit its financial statement before the deadline, it said. Tony Huang (黃文烈), the former chairman of the maker of parenteral solutions for vaccines and intravenous medicines, is facing embezzlement charges and the company’s shares have been suspended since Aug. 18.
ELECTRONICS
Ampacs plans new plant
Audio electronics maker Ampacs Corp (安普新) yesterday said that it plans to invest NT$200 million to build a second plant in Vietnam, which is expected to be completed by the end of next year. The company constructed its first Vietnamese plant in June last year and started mass production in March. The new investment is to meet rising demand for “true wireless stereo” earphones and gaming headsets, the company said. Ampacs is expected to debut its shares on the Taiwan Stock Exchange next month. The company reported earnings per share of NT$3.38 in the first three quarters, up from NT$0.50 the previous year, while revenue grew 103.46 percent from NT$1.68 billion to NT$3.41 billion.
TAXATION
NT$220 billion repatriated
As of Saturday, the Ministry of Finance had received applications to repatriate NT$226.5 billion of overseas funds from 1,053 companies and individuals since the Act on the Use of and Taxation on Inward Remittances of Overseas Funds (境外資金匯回管理運用及課稅條例) took effect on Aug. 15 last year, the ministry said yesterday. As of Saturday, companies and individuals had repatriated NT$220.6 billion to take advantage of the preferential tax rates, it said.
STEELMAKERS
CSC profit rises 205 percent
China Steel Corp (CSC, 中鋼), the nation’s only integrated steelmaker, yesterday posted a pretax profit of NT$1.35 billion for last month, up 205 percent month-on-month from NT$443.75 million, as revenue hit the second-highest monthly level this year. Operating profit was NT$1.4 billion, up 281 percent from NT$367.02 million a month earlier, CSC said in a statement. Consolidated revenue increased 4 percent to NT$27.09 billion from NT$26.13 billion in September, it said. The company attributed the growth to a recovery in orders, while shipments were 889,930 tonnes, up from 812,564 tonnes the previous month. CSC posted a pretax loss of NT$2.14 billion for the first 10 months of this year.
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