Wed, Feb 23, 2022 page11

• Taiwan Business Quick Take

  • Staff writer, with agencies
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  ENERGY

  Power use rises 4.5 percent

  As domestic companies expanded production to meet global demand and people gradually changed their lifestyles amid the COVID-19 pandemic, Taiwan’s energy consumption increased 4.5 percent last year from 2020, the Ministry of Economic Affairs said yesterday. Energy consumption in the industrial sector increased 8.5 percent from a year earlier due to increased economic activities; it decreased 5.2 percent in the transportation sector as people avoided going out to comply with social distancing measures; it rose 2.6 percent in the residential sector as people spent more time at home; and it fell 1.4 percent in the service sector due to the government’s COVID-19 restrictions, the ministry said in a statement.

  TELECOMS

  Taiwan Mobile optimistic

  Telecom operator Taiwan Mobile Co (台灣大哥大) yesterday told investors that revenue this year would expand 15 to 17 percent from NT$15.61 billion (US$559.9 million) last year, mainly driven by its e-commerce subsidiary Momo.com Inc (富邦媒體). Taiwan Mobile said its mobile service revenue is projected to rise 3 to 5 percent year-on-year, after returning to growth last year, as 5G subscribers propped up the average revenue per user, helping to drive up revenue 4 percent annually. This year, Taiwan Mobile has set aside NT$11.2 billion for capital spending, with NT$6.43 billion to go toward its telecom business, it said. However, it would reduce spending on 5G-related buildup this year after it reached its peak last year, the company said. The company’s projection does not factor in its proposal to merge with local peer Taiwan Star Telecom Corp (台灣之星).

  ELECTRONICS

  Luxshare plans share sale

  Apple Inc supplier Luxshare Precision Industry Co (立訊精密) is seeking to raise up to 13.5 billion yuan (US$2.13 billion) through a private share placement to fund a series of projects from intelligent wearable device manufacturing upgrades to electric vehicle component production. The Shenzhen, China-listed company plans to issue up to 2.1 billion shares to as many as 35 investors, including mutual funds, securities firms, trusts, finance companies, insurers and select foreign institutional investors, it said in an exchange filing. The firm aims to spend 6.2 billion yuan of the proceeds to construct or upgrade facilities and technology related to the production of intelligent wearable devices, and about 2 billion yuan on the production of electric vehicle components, the statement said. About 3.55 billion yuan of the proceeds would be used to supplement working capital, it added.

  TRANSPORTATION

  NDC approves light-rail plan

  The National Development Council (NDC) has approved a feasibility study for the construction of a light-rail line linking Wugu (五股), Lujhou (蘆州) and Taishan (泰山) districts in New Taipei City, the city’s Department of Rapid Transit Systems (DORTS) said on Monday. The study would need to be approved by the Cabinet before New Taipei City can proceed with the next steps, which include an environmental impact assessment that would take three years, DORTS said. If construction on the 11.61km line goes ahead, it is estimated to cost NT$22.78 billion and could take about six years to complete, the department said. Construction of the project could be completed by 2030, the New Taipei City government has said, adding that it is designed to alleviate the traffic congestion that plagues the areas during rush hour.
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