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.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
INFLATION CONSIDERATION: The BOJ governor said that it would ‘keep making appropriate decisions’ and would adjust depending on the economy and prices The Bank of Japan (BOJ) yesterday raised its benchmark interest rate to the highest in 30 years and said more increases are in the pipeline if conditions allow, in a sign of growing conviction that it can attain the stable inflation target it has pursued for more than a decade. Bank of Japan Governor Kazuo Ueda’s policy board increased the rate by 0.2 percentage points to 0.75 percent, in a unanimous decision, the bank said in a statement. The central bank cited the rising likelihood of its economic outlook being realized. The rate change was expected by all 50 economists surveyed by Bloomberg. The
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