EQUITIES
TSMC boosts TAIEX
The TAIEX yesterday reversed earlier losses and closed slightly higher as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) gained and stabilized the broader market, dealers said. The TAIEX ended the day up 48.83 points, or 0.27 percent, at 18,288.21. Turnover totaled NT$302.773 billion (US$10.94 billion), with foreign institutional investors buying a net NT$2.23 billion of shares on the main board, Taiwan Stock Exchange data showed. TSMC rose 1.24 percent to close at NT$651. Its gains contributed more than 65 points to the TAIEX, and boosted the electronics index by 0.08 percent and the semiconductor subindex by 0.42 percent. “It is possible that foreign institutional investors stood on the buy side for TSMC,” Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺) said.
SEMICONDUCTORS
TSMC to issue green bonds
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is to issue NT$5.4 billion in green bonds to fund green building construction and other eco-friendly projects, the firm said last week. The NT$5.4 billion in green bonds, the firm’s first unsecured corporate bond sale this year, would comprise two tranches — a five-year NT$2.1 billion tranche with a coupon rate of 0.63 percent, and a seven-year NT$3.3 billion tranche carrying a coupon rate of 0.72 percent, TSMC said. Taipei Fubon Commercial Bank (台北富邦銀行) would be the depository institution for the green bonds, while Yuanta Securities Co (元大證券) would serve as the underwriter of the debt, the firm said. TSMC has not yet released a timetable for the sale.
HOSPITALITY
FDC revenue rises 35%
FDC International Hotels Corp (FDC, 雲品國際), which runs the Palais de Chine Hotel (君品酒店) in Taipei and the Fleur de Chine Hotel (雲品溫泉酒店) in Nantou County, on Monday reported that its revenue last month increased 35 percent from November to NT$211 million, as COVID-19 infections dwindled and people felt more comfortable dining and gathering. However, the figure still represented a 5 percent decline from a year earlier, as the negative effects of a virus outbreak in Taiwan last year lingered, it added. Overall revenue for last year fell 21 percent to NT$1.45 billion, it said. Meanwhile, Formosa International Hotels Group (晶華酒店集團), which operates the Regent Taipei (台北晶華酒店), reported revenue of NT$547 million for last month, a 21.05 percent increase from November, but a 5.18 percent decline from a year earlier. For the whole of last year, revenue dropped 9.18 percent annually to NT$4.93 billion.
ELECTRONICS
Chroma ATE to close agency
Chroma ATE Inc (致茂電子), which provides electronic test and measurement solutions for commercial, automotive, military and government industries, yesterday said that its board of directors has agreed to terminate the agency business operated by its subsidiary Chroma New Material Corp (日茂新材料), effective March 31. The subsidiary, established in 2006, is Nippon Micrometal Corp’s local distribution agency for bonding wires and micro solder balls for semiconductor packaging. Its purchase from Nippon Micrometal cost NT$2.4 billion in 2020, Chroma ATE said in a regulatory filing. In 2020, the subsidiary contributed 16 percent and 1 percent to the parent firm’s consolidated revenue and net profit respectively, the filing said.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
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China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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