Housing agency Hiyes International Co (海悅國際開發) and elevator maker Golden Friends Corp (崇友實業) are expecting stable business growth this year, as the local property market steadily emerges from a slowdown induced by economic uncertainty and tight monetary policy.
Hiyes said business visibility is better this quarter from a year earlier, judging by agency cases and construction revenue.
Things might be quieter during the second quarter of the year, as developers would seek to digest unsold houses and launch major presale projects in the third and fourth quarters that would generate billions of revenue, it said.
Photo: CNA
Hiyes said it is cautiously assessing whether to undertake urban renewal projects in Taipei and New Taipei City in a bid to diversify its income sources and strengthen its competitive edge.
The company in December last year recognized construction revenue of NT$2.47 billion (US$78.02 million) from a mixed-use complex in Taichung, which helped boost net income to NT$1.66 billion for the whole of last year, or earnings per share of NT$13.86.
The results represent a 77.16 percent improvement from 2022 on the back of strong demand after the government in August last year introduced interest subsidies and other favorable lending terms for first-home purchases regardless of the age of the buyer.
Hiyes last week said that it plans to distribute a NT$7 per share in cash dividend and another NT$2 stock dividend from last year’s earnings, equivalent to a payout ratio of 64.9 percent.
Elevator maker Golden Friends last week posted record-high earnings per share of NT$5.06 for last year, up 5.57 percent from a year earlier, thanks to stable demand, maintenance requirements and the divestment of an office building in Kaohsiung.
Revenue last year grew 11.16 percent to NT$5.27 billion, the company said, due to more elevator demand from new residential complexes and office buildings.
The company has proposed distributing a NT$4 per share cash dividend from last year’s earnings, indicating a payout ratio of 80 percent.
The company said it has a guarded, but optimistic view for this year with ample orders on hand that would provide profit momentum.
The company said that it is to introduce artificial intelligence and environment-friendly technologies when developing new elevators.
PERSISTENT RUMORS: Nvidia’s CEO said the firm is not in talks to sell AI chips to China, but he would welcome a change in US policy barring the activity Nvidia Corp CEO Jensen Huang (黃仁勳) said his company is not in discussions to sell its Blackwell artificial intelligence (AI) chips to Chinese firms, waving off speculation it is trying to engineer a return to the world’s largest semiconductor market. Huang, who arrived in Taiwan yesterday ahead of meetings with longtime partner Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), took the opportunity to clarify recent comments about the US-China AI race. The Nvidia head caused a stir in an interview this week with the Financial Times, in which he was quoted as saying “China will win” the AI race. Huang yesterday said
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
TEMPORARY TRUCE: China has made concessions to ease rare earth trade controls, among others, while Washington holds fire on a 100% tariff on all Chinese goods China is effectively suspending implementation of additional export controls on rare earth metals and terminating investigations targeting US companies in the semiconductor supply chain, the White House announced. The White House on Saturday issued a fact sheet outlining some details of the trade pact agreed to earlier in the week by US President Donald Trump and Chinese President Xi Jinping (習近平) that aimed to ease tensions between the world’s two largest economies. Under the deal, China is to issue general licenses valid for exports of rare earths, gallium, germanium, antimony and graphite “for the benefit of US end users and their suppliers
Dutch chipmaker Nexperia BV’s China unit yesterday said that it had established sufficient inventories of finished goods and works-in-progress, and that its supply chain remained secure and stable after its parent halted wafer supplies. The Dutch company suspended supplies of wafers to its Chinese assembly plant a week ago, calling it “a direct consequence of the local management’s recent failure to comply with the agreed contractual payment terms,” Reuters reported on Friday last week. Its China unit called Nexperia’s suspension “unilateral” and “extremely irresponsible,” adding that the Dutch parent’s claim about contractual payment was “misleading and highly deceptive,” according to a statement
RSS