EQUITIES
TAIEX dips on Ukraine fears
The TAIEX closed slightly lower yesterday as market sentiment continued to be haunted by Russia’s invasion of Ukraine, which battered global equity markets overnight. Losses focused on the bellwether electronics sector, but rotational buying in old-economy stocks in a market awash in ample liquidity helped to limit the broader market’s downturn, dealers said. The TAIEX closed down 30.65 points, or 0.17 percent, at 17,867.60. Turnover totaled NT$293.357 billion (US$10.45 billion), with foreign institutional investors selling a net NT$19.27 billion of shares on the main board, Taiwan Stock Exchange data showed.
SEMICONDUCTORS
Mosel Vitelic net profit up
Foundry company Mosel Vitelic Inc (茂矽) yesterday reported that net profit grew 11.4 percent year-on-year to NT$245.24 million last year, the highest in 14 years, with earnings per share of NT$1.58. Revenue rose 5.76 percent annually to NT$1.95 billion, the highest in 10 years, the company said in a regulatory filing. The firm attributed the results to increased shipments of automotive electronic diodes and metal-oxide-semiconductor field-effect transistors, as well as rising prices for foundry orders. Its board of directors has approved a plan to distribute a cash dividend of NT$0.5 per share on Aug. 26, the company said.
APPAREL
February record for Makalot
Makalot Industrial Co (聚陽) yesterday reported consolidated revenue of NT$2.56 billion for last month, up 41.56 percent from a year earlier, but down 10.5 percent from January. The figure is the highest in the company’s history for the month of February, underlining robust demand from its brand customers in the US, as the global COVID-19 situation is gradually being brought under control, Makalot said. Combined revenue in the first two months of this year reached NT$5.42 billion, up 29.3 percent year-on-year, the company said in a regulatory filing.
MANUFACTURING
CFTC predicts rising sales
China Fineblanking Technology Co (CFTC, 和勤精機), a manufacturer of metal stamping products, yesterday forecast that sales for this year are expected to increase every quarter in light of a steady recovery in the Chinese auto market and launches of new products by the firm later this year. The Changhua County-based firm reported that revenue last month was the highest for February. It grew 12.42 percent from a year earlier to NT$189.69 million, but declined 30.2 percent from January. Auto parts accounted for 68.76 percent of the company’s total revenue, while voice coil motor plates for hard-disk drive applications contributed 27.63 percent, it said. Cumulative revenue in the first two months expanded 9.37 percent to NT$461.63 million, a record for the period.
ENTERTAINMENT
Sea shares fall on forecast
Sea Ltd (冬海) gave a muted forecast for its digital entertainment unit and its shares fell 13 percent in US trading on Monday. Investors balked as the Singapore-based mobile gaming company forecast US$2.9 billion to US$3.1 billion in bookings at its digital gaming arm, set to be its first decline ever. That compares with bookings last year of US$4.6 billion. The company sought to assuage investors by focusing on e-commerce revenue growth, which it expects to continue unabated as it focuses on the key markets of Taiwan, Brazil and Southeast Asia. It expects e-commerce sales to rise to between US$8.9 billion and US$9.1 billion this year from US$5.1 billion last year.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in server chips, expects revenue to decline this year due to sagging demand for 5-nanometer artificial intelligence (AI) chips from a North America-based major customer, a company executive said yesterday. That would be the first contraction in revenue for Alchip as it has been enjoying strong revenue growth over the past few years, benefiting from cloud-service providers’ moves to reduce dependence on Nvidia Corp’s expensive AI chips by building their own AI accelerator by outsourcing chip design. The 5-nanometer chip was supposed to be a new growth engine as the lifecycle
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