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.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
Taiwan’s long-term economic competitiveness will hinge not only on national champions like Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) but also on the widespread adoption of artificial intelligence (AI) and other emerging technologies, a US-based scholar has said. At a lecture in Taipei on Tuesday, Jeffrey Ding, assistant professor of political science at the George Washington University and author of "Technology and the Rise of Great Powers," argued that historical experience shows that general-purpose technologies (GPTs) — such as electricity, computers and now AI — shape long-term economic advantages through their diffusion across the broader economy. "What really matters is not who pioneers
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
RSS