Fri, Jul 01, 2022 page11

• Taiwan Business Quick Take

  • Staff writer
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  EXCHANGES

  TWSE names new chairman

  The Taiwan Stock Exchange’s (TWSE) board members yesterday appointed Sherman Lin (林修銘), former chairman of Taiwan Depository and Clearing Corp (台灣集保), as its new chairman, while Chien Lih-chung (簡立忠) remains as TWSE president. Lin would take office today, the board said. Aged 57, Lin would be the youngest TWSE head in 60 years, its records showed. Meanwhile, the board directors of Fundrich Securities Co (基富通證券), a Taiwan Depository and Clearing unit, yesterday appointed Chu Han-chiang (朱漢強), a legal representative of the parent firm, as its new chairperson.

  TELECOMS

  Taiwan Mobile hikes wages

  Taiwan Mobile Co (台灣大哥大) yesterday said it has stepped up salary hikes for employees to 7 percent this year in an effort to retain talent and help employees amid rising inflation. The wage hikes are higher than the 5.5 percent increases offered by Chunghwa Telecom Co (中華電信) for new employees, Taiwan Mobile said in a statement. On average, Taiwan Mobile employees receive about 18 months of salary a year, the statement said. The telecom operator said that it has a hybrid working model, with employees allowed to work from home 10 days a month.

  ENERGY

  HD dividend approved

  HD Renewable Energy Co (泓德能源) yesterday said that shareholders have approved a cash dividend distribution of NT$2 per common share, a payout ratio of 66.23 percent based on the company’s earnings per share of NT$3.02 last year. Shareholders also approved a plan to list the company’s shares on the Taiwan Stock Exchange. With new green energy facilities launching operations this year, HD Renewable Energy’s revenue was NT$550 million (US$18.5 million) in the first quarter, almost tripling from the same period last year. Earnings per share soared to NT$1.03. The company said it has started building three new solar energy facilities in Tainan and Penghu County with total installed capacity of 100 megawatts a year. The facilities would be completed and connected to the grid by the end of this year, it said.

  MANUFACTURING

  Returning firms boost rate

  Local manufacturers, mostly electronics companies, returning production to Taiwan last year, raised the proportion of locally made products to 48.4 percent of overall output, up 2.4 percentage points from the previous year, a survey conducted by the Ministry of Economic Affairs showed. Last year’s result was the highest since 2013, the ministry said. Last year’s proportion of goods made in China, including Hong Kong, was 42.4 percent, down 3.1 percentage points from 2020, it said. The ministry attributed the shift to a US-China trade dispute and restrictions amid the COVID-19 pandemic. Lower manufacturing costs were also a factor, it said. ASEAN members were favored among local manufacturers when shifting production out of China, with 3.2 percent of goods made in such nations last year, up 0.3 percentage points from a year earlier, it said. That made ASEAN the third-biggest manufacturing region for local manufacturers, the survey showed. About 70 percent of the 127 companies that have expanded production lines did so in Taiwan, the ministry said, adding that Southeast Asian countries were second with about 27 percent.
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