The Fair Trade Commission (FTC) has approved a strategic partnership between Taiwan-based food conglomerate Uni-President Enterprises Corp (統一企業) and Hong Kong’s Yahoo Taiwan Holdings Ltd (雅虎資訊), Uni-President said in a statement on Wednesday.
Under the deal, Uni-President is to take an 80 percent stake in Yahoo’s e-commerce business in Taiwan, the company said.
Yahoo would retain the other 20 percent in the US$100 million e-commerce joint venture, which would continue to use Yahoo Taiwan’s e-commerce brand, it said.
Photo: CNA
The company’s remarks came after the FTC announced earlier on Wednesday that it had decided not to prohibit the deal by citing Article 13 of the Fair Trade Act (公平交易法).
In February, Uni-President announced that its subsidiary Cayman President Holdings Ltd spent US$25 million to acquire Yahoo Taiwan corporate bonds.
The company said it had put a wide range of products on Yahoo’s e-commerce platform for many years and that the two sides have forged close business ties.
Uni-President chairman Alex Lo (羅智先) said recently that the food conglomerate generated NT$580 billion (US$17.8 billion) in sales last year, mainly from physical stores, with only 0.5 percent of its sales coming from online stores.
This shows there is plenty of room for growth in the e-commerce sector, Lo said, adding that the company decided to form an alliance with Yahoo to gain a better understanding of e-commerce operations.
Asia Yahoo general manager Pete Wong (黃吉樂) said the joint venture is aimed at market expansion by using Yahoo’s experience in big data and digital operations, and building on Uni-President’s success at providing a comprehensive consumer experience through lifestyle essentials.
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
Garment maker Makalot Industrial Co (聚陽) yesterday reported lower-than-expected fourth-quarter revenue of NT$7.93 billion (US$251.44 million), down 9.48 percent from NT$8.76 billion a year earlier. On a quarterly basis, revenue fell 10.83 percent from NT$8.89 billion, company data showed. The figure was also lower than market expectations of NT$8.05 billion, according to data compiled by Yuanta Securities Investment and Consulting Co (元大投顧), which had projected NT$8.22 billion. Makalot’s revenue this quarter would likely increase by a mid-teens percentage as the industry is entering its high season, Yuanta said. Overall, Makalot’s revenue last year totaled NT$34.43 billion, down 3.08 percent from its record NT$35.52
RSS