Tue, Feb 08, 2022 page11

• Taiwan Business Quick Take

  • Staff writer, with CNA
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  ECONOMY

  GDP to increase 4%: council

  Taiwan’s GDP is expected to grow 4 percent this year, the National Development Council said in a statement yesterday. The council predicted solid growth amid booming outbound shipments, a continuing global economic recovery, more resilient supply chains and the emergence of new technologies. It said that Taiwan’s exports could reach US$472.1 billion this year, up 6.14 percent from last year, and that private consumption would grow 5.36 percent this year. An investment program, which was launched in 2019 and late last year was extended to 2024, would help attract NT$900 billion (US$32.33 billion) in overseas Taiwanese capital back to the country and generate 40,000 job opportunities, the council said. However, several challenges still lie ahead for Taiwan this year, such as inflationary pressure, carbon reduction and the COVID-19 pandemic, the council said.

  MANUFACTURING

  Sinbon posts record revenue

  Connector and cable assembly manufacturer Sinbon Electronics Co (信邦電子) yesterday reported record revenue of NT$2.35 billion for last month, an increase of 11.44 percent from a year earlier and up 8.32 percent from the previous month. The company attributed the results to increasing demand for its products used in the automotive industry, medical and care devices, and industrial applications. The firm’s consolidated revenue totaled NT$2.35 billion last month, surpassing its record of NT$2.25 billion in November last year, Sinbon said in a news release. Cable assemblies contributed to 72.33 percent of the company’s total sales last month, while connectors and other components and accessories made up 27.67 percent, the company said.

  CHIP DESIGNERS

  Faraday revenue tops NT$1bn

  Faraday Technology Corp (智原), a fabless chip design service and silicon patent provider, yesterday said that its revenue for last month exceeded NT$1 billion for the first time in the company’s history, hitting a record high for the third month in a row. Consolidated revenue was NT$1.05 billion, up 12.55 percent month-on-month and 117.09 percent year-on-year, the company said in a statement. Faraday’s revenue mainly comes from its application-specific integrated circuit (ASIC) solutions, non-recurring engineering services and silicon intellectual property business. Last month’s growth momentum benefited mainly from new ASIC solution projects, which should carry into this quarter despite the first quarter of the year being the low season, analysts said.

  TESTING SERVICES

  Sporton revenue hits record

  Sporton International Inc (耕興), which provides professional product testing and certification services, yesterday reported that its revenue continued to climb last month and was the highest in the company’s history. Consolidated revenue increased 1.9 percent month-on-month and rose 25.77 percent year-on-year to a record NT$420.1 million. The increase was due to robust product testing for different wearable devices, smart consumer electronics, telematics and remote healthcare systems that use 5G and Wi-Fi 6E technologies, analysts said. Sporton’s revenue for last year grew 22.94 percent year-on-year to NT$4.32 billion after revenue in the fourth quarter rose 18.11 percent to NT$1.11 billion, as markets continue to migrate to 5G technology, they said. The company would continue to post record revenues this year, buoyed by strong growth momentum, analysts said.
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