ENERGY
J&V applies to list on board
J&V Energy Technology Co (雲豹能源) yesterday said that it has applied to list on the Taiwan Stock Exchange’s Taiwan Innovation Board, after starting trading its shares on the Emerging Stock Board in January. The exchange has encouraged start-ups and biotechnology firms to list on the new board regardless of their profit performance, as it focuses more on their market potential. J&V Energy’s businesses include solar power, offshore wind power, energy storage, power sales platform and water treatment. It reported cumulative revenue of NT$4.49 billion (US$144.35 million) in the first 10 months of this year, with an annual growth of 1,008.64 percent, which surpassed the NT$2.155 billion it registered for the whole of last year. The Taiwan Innovation Board was launched in July last year, with only one company debuting its shares so far.
RESTAURANTS
Din Tai Fung to raise prices
The Din Tai Fung (鼎泰豐) restaurant chain, renowned for its steamed dumplings, is to hike prices on certain items in light of rising production costs. Effective from Tuesday next week, prices of 140 items are to increase by 4 percent on average, the chain said on its Web site yesterday. It has raised prices for two years in a row to reflect higher raw material and labor costs. The price of steamed dumplings is to increase NT$2 to NT$25 each, it said. The price of shrimp fried rice with egg is to increase from NT$250 to NT$270, while steamed chicken soup is to cost NT$230 per bowl, up from NT$220, it added.
ENERGY
Swancor changes name
Offshore wind farm developer Swancor Renewable Energy Co (SRE, 上緯新能源) yesterday changed its name to Synera Renewable Energy Co (風睿能源). “The new company name, Synera, is derived from the words ‘synergy’ and ‘era.’ It faithfully reflects how our team members have worked together in solidarity over the past decade to navigate challenges and stand at the forefront of a new era of offshore wind power,” SRE chairman Lucas Lin (林雍堯) said in a statement. The company is fully engaged in phase 3, or “zonal development,” of the government’s offshore wind farm development plan, it said. The experience of developing, building, operating and maintaining offshore wind farms in northwestern Taiwan would aid the company in developing two large offshore wind projects — the bottom-fixed Formosa 4 and floating Formosa 5 — off Miaoli County, it said.
HOME APPLIANCES
Taiwan Sakura posts profit
Taiwan Sakura Corp (台灣櫻花) posted NT$2.5 billion in net profit for last quarter, suggesting an 11.8 percent increase year-on-year on the back of healthy demand for kitchen appliances and related products. The results translated into earnings per share of NT$1.15, the company reported last week. In the first three quarters of the year, cumulative revenue rose 14.6 percent year-on-year to NT$6.05 billion and net profit increased 4.5 percent to a record NT$7.5 billion, with earnings per share of NT$3.47, it said. The Taichung-based company primarily manufactures and sells water heaters, gas stoves, range hoods and integrated kitchens. The company also provides delivery services for oil screens, security-check services and maintenance services.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
RSS