Kaohsiung-based screw manufacturer Sheh Fung Screws Co (世豐螺絲) yesterday said it is positive about its business prospects, thanks to robust demand from home improvement projects and increased infrastructure spending abroad.
Sheh Fung shed light on its prospects during a shareholders’ meeting, which approved the company’s proposal to distribute a stock dividend of 10 percent and a cash dividend of NT$1.97 per share based on last year’s net income of NT$152 million (US$5.42 million), or NT$3.71 per share. That would translate into a payout ratio of nearly 80 percent.
Demand from do-it-yourself home improvement projects remains healthy in the US, and US President Joe Biden’s massive infrastructure spending program would further lend support, it said.
The company also expects its products to benefit from a pickup in the property market and increased building applications.
The US accounted for 74 percent of its sales in the first quarter, while Asia contributed 10 percent, it said.
Sheh Fung has not released its second-quarter results.
It said it is in talks with customers to raise prices to reflect increases in production costs.
Screw material suppliers have said they intend to increase selling prices this quarter, it added.
The company aims to strengthen its product lineup and inventory management to boost its proficiency, it said.
Shares of Sheh Fung edged up 0.19 percent to close at NT$52.50 in Taipei trading yesterday, outperforming the TPEX’s 0.07 percent gain, Taipei Exchange data showed.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, has decided to slow down its 3-nanometer chip production as Intel Corp, one of its major customers, plans to push back the launch of its new Meteor Lake tGPU chipsets to the end of next year, market researcher TrendForce Corp (集邦科技) said yesterday. That means Intel has canceled almost all of the 3-nanometer capacity booked for next year, with only a small amount of wafer input remaining for engineering verification, the Taipei-based researcher said in a report. Based on Intel’s original schedule, TSMC was to start producing the new chipsets in
DATA SHOW DOWNTURN: Manufacturing in Taiwan contracted as production and demand slumped, while growth in chip exports last month eased in South Korea World chip sales growth has decelerated for six straight months in another sign that the global economy is straining under the weight of rising interest rates and mounting geopolitical risks. Semiconductor sales rose 13.3 percent in June from a year earlier, down from 18 percent in May, data from the global peak industry body showed. The slowdown is the longest since the US-China trade dispute in 2018. The three-month moving average in chip sales has correlated with the global economy’s performance in the past few decades. The latest weakness comes as concern about a worldwide recession has prompted chipmakers such as Samsung
Italy is close to clinching a deal initially worth US$5 billion with Intel Corp to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions said yesterday. Intel’s investment in Italy is part of a wider plan announced by the US chipmaker earlier this year to invest US$88 billion in building capacity across Europe, which is striving to cut its reliance on Asian chip imports and ease a supply crunch that has curbed output in the region’s strategic auto sector. Asking not to be named due to the sensitivity of the matter, the sources said the
Malaysia is scrambling to protect its assets as the descendants of the last sultan of the remote Philippine region of Sulu look to enforce a US$15 billion arbitration award in a dispute over a colonial-era land deal. In 1878, two European colonists signed a deal with the sultan for the use of his territory in present-day Malaysia — an agreement that independent Malaysia honored until 2013, paying the monarch’s descendants about US$1,000 per year. Now, 144 years later after the original deal, Malaysia is on the hook for the second-largest arbitration award on record for stopping the payments after a bloody incursion
RSS