INVESTING
Bonds reach NT$3 trillion
The cumulative issuance of bonds this year had reached NT$3.014 trillion (US$104.6 billion) as of yesterday, soaring 90 percent from the same period last year, the Taipei Exchange said. Market interest rates have decreased amid the COVID-19-driven global recession, allowing corporate issuers to benefit from lower financing costs through the bond market, the exchange said in a statement. Government bond issuance rose 8 percent year-on-year to NT$425 billion, while financial debentures issuance increased 5 percent to NT$135.6 billion and convertible bond issuance grew 66 percent to NT$57 billion. International bond issuance surged 158.37 percent to US$59 billion, the exchange’s tally showed. Total bond issuance this year is to exceed the previous record of NT$2.484 trillion in 2016, marking a milestone for the domestic bond market, the exchange said.
BROKERAGES
Firms’ income rises 19%
The nation’s securities firms reported combined net income of NT$3.781 billion for last month, up 19.54 percent from the previous month, as higher dealer trading gains offset lower fee income, the Taiwan Stock Exchange said yesterday. The trading value on the main board decreased 22.24 percent last month to NT$3.399 trillion from the previous month, leading to a lower brokerage fee income, the exchange said. In the first 10 months of this year, securities firms’ total net income was NT$40.677 billion, up 19.44 percent from the same period last year, the exchange said.
RESTAURANTS
Young Qin to list shares
Young Qin International Co (揚秦國際), operator of breakfast chain My Warm Day (麥味登), is expected to debut its shares on the Taipei Exchange next month, the company said yesterday. The company operates 820 breakfast outlets in Taiwan, as well as 19 fried chicken stores and five coffee shops. It reported revenue of NT$1.085 billion in the first three quarters of this year, up 14 percent year-on-year, with net profit of NT$48.72 million, or earnings per share of NT$2.71.
BANKING
Jakarta office ratified
The Financial Supervisory Commission yesterday approved Export-Import Bank of the Republic of China’s (中國輸出入銀行) application to set up a representative office in Jakarta. The state-run bank plans to set up the office in Indonesia’s capital as it eyes market potential there, the commission said. Indonesia has the largest population in ASEAN, with about 260 million people, the commission said. The bank also has a representative office in Thailand’s capital, Bangkok. Its move comes as more Taiwanese businesses relocate to ASEAN amid the government’s New Southbound Policy initiative, the commission said.
RETAIL
Gloria expects sales boost
Gloria Outlets (華泰名品城) shopping mall yesterday said that increased customer traffic would boost its sales 20 percent year-on-year in the first 11 months of the year. The Taoyuan-based retailer said that total sales for this year are forecast to grow 25 percent from last year to NT$9 billion, exceeding its target of NT$8 billion, as it expects more than 5 million people would visit the mall this year amid border controls due to the COVID-19 pandemic. Its Gloria Hotel Group (華泰大飯店集團) remains positive about next year, expecting sales to top NT$10 billion, Gloria Outlets president Sophia Liang (梁曙凡) told a news conference in Taipei.
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
An Indian factory producing iPhone components resumed work yesterday after a fire that halted production — the third blaze to disrupt Apple Inc’s local supply chain since the start of last year. Local industrial behemoth Tata Group’s plant in Tamil Nadu, which was shut down by the unexplained fire on Saturday, is a key linchpin of Apple’s nascent supply chain in the country. A spokesperson for subsidiary Tata Electronics Pvt yesterday said that the company would restart work in “many areas of the facility today.” “We’ve been working diligently since Saturday to support our team and to identify the cause of the fire,”
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