FOORWEAR
Sports Gear seeks listing
Sports Gear Co Ltd (志強國際) is applying for a listing on the nation’s main board, the Taiwan Stock Exchange said yesterday. The Cayman Islands-registered company mainly produces athletic footwear, casual shoes and balls, the exchange said. With a paid-in capital of NT$1.74 billion (US$60.7 million), the company reported earnings per share (EPS) of NT$0.94 in the first three quarters of this year. Its EPS in the past three years were NT$6.02 last year, NT$8.09 in 2018 and NT$12.37 in 2017, the exchange said. Separately, the exchange approved a listing application by Acer Inc (宏碁) subsidiary Weblink International Inc (展碁國際), which provides marketing and membership management software services, it said. The company reported EPS of NT$1.94 in the first three quarters, up 70 percent from the same period last year.
REAL ESTATE
Hiyes revenue soars 15.8%
Hiyes International Co Ltd (海悅國際開發), the nation’s largest housing broker, yesterday reported that revenue last month grew 15.8 percent month-on-month and 40.84 percent year-on-year to NT$439 million, a monthly record for the company. The firm attributed the growth to launches of new housing projects by developers across the nation. It has risen on the tide of a booming market through various strategies, it said. In the first 11 months of the year, cumulative revenue surged 134.34 percent from a year earlier to NT$3.13 billion, the company said.
TECHNOLOGY
Adata revenue grows 8%
Adata Technology Co (威剛科技), the world’s second-largest memory module supplier, yesterday said its revenue last month increased 8.06 percent to NT$3.12 billion from October, benefiting from a steady demand for memory products. On an annual basis, last month’s revenue rose 23.4 percent and hit the second-highest level this year, it said. In the first 11 months, Adata saw revenue total NT$29.28 billion, up 26.43 percent from the same period last year.
ECONOMY
Vouchers expire this month
Nearly 3 percent of people who are eligible to purchase Triple Stimulus Vouchers, have not yet done so, the Ministry of Economic Affairs said on Wednesday, adding that the vouchers can only be used until Dec. 31. The government launched the voucher program on July 15 to encourage consumption amid the COVID-19 pandemic. In a statement, the ministry said that more than 23 million people, or more than 97 percent of those eligible, have bought the vouchers.
FINANCE
Vanguard loses mandate
Vanguard Group Inc lost a mandate to run at least US$590 million in Taiwanese government pension and insurance assets due to its weak performance. Assets managed by Vanguard under an Asia-Pacific mixed index mandate were redeemed prematurely due to long-term underperformance, the Bureau of Labor Funds said on its Web site on Tuesday in its October update. The Vanguard funds returned about 13 percent since inception in August 2016, about half the benchmark’s 26 percent gain, according to the previous month’s statement. With the ouster of Vanguard, New York-based BlackRock Inc is now the main manager of Taiwan’s Asia-Pacific stock mandate, the bureau said. It oversaw more than US$700 million as of Oct. 31, the statements showed.
PERSISTENT RUMORS: Nvidia’s CEO said the firm is not in talks to sell AI chips to China, but he would welcome a change in US policy barring the activity Nvidia Corp CEO Jensen Huang (黃仁勳) said his company is not in discussions to sell its Blackwell artificial intelligence (AI) chips to Chinese firms, waving off speculation it is trying to engineer a return to the world’s largest semiconductor market. Huang, who arrived in Taiwan yesterday ahead of meetings with longtime partner Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), took the opportunity to clarify recent comments about the US-China AI race. The Nvidia head caused a stir in an interview this week with the Financial Times, in which he was quoted as saying “China will win” the AI race. Huang yesterday said
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
The Chinese government has issued guidance requiring new data center projects that have received any state funds to only use domestically made artificial intelligence (AI) chips, two sources familiar with the matter told Reuters. In recent weeks, Chinese regulatory authorities have ordered such data centers that are less than 30 percent complete to remove all installed foreign chips, or cancel plans to purchase them, while projects in a more advanced stage would be decided on a case-by-case basis, the sources said. The move could represent one of China’s most aggressive steps yet to eliminate foreign technology from its critical infrastructure amid a
MORE WEIGHT: The national weighting was raised in one index while holding steady in two others, while several companies rose or fell in prominence MSCI Inc, a global index provider, has raised Taiwan’s weighting in one of its major indices and left the country’s weighting unchanged in two other indices after a regular index review. In a statement released on Thursday, MSCI said it has upgraded Taiwan’s weighting in the MSCI All-Country World Index by 0.02 percentage points to 2.25 percent, while maintaining the weighting in the MSCI Emerging Markets Index, the most closely watched by foreign institutional investors, at 20.46 percent. Additionally, the index provider has left Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index unchanged at 23.15 percent. The latest index adjustments are to
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