Business and Finance

Largan shares under pressure after cautious September sales forecast

Focus Taiwan
Date: 2018/09/21
By: Han Ting-ting and Frances Huang 

Taipei, Sept. 21 (CNA) Shares of Largan Precision Co., a Taiwanese supplier of smartphone camera lenses to Apple Inc., encountered heavy selling Friday after the company gave a cautious outlook for its September sales, dealers said.

The selling also reflected worry that Apple will not use triple camera lenses in its next generation iPhones in 2019, which would affect Largan’s shipments, they said.

As of 11:24 a.m. Friday, shares of Largan had fallen 4.21 percent to NT$3,640.00 (US$118), off an early low of NT$3,425.00, with 1.72 million shares changing hands on the Taiwan Stock Exchange.

On the broader market, the weighted index was up 0.88 percent at 10.926.89 points.

TAITRA boosts ties with seafood deals

WIN-WIN: Importers are to purchase US$48 million of seafood over the next year from three Central American allies, which would help make up for a shortfall in local supply

Taipei Times
Date: Sep 22, 2018
By: Ted Chen  /  Staff reporter

The Taiwan External Trade Development Council (TAITRA, 外貿協會) yesterday said it

Taiwan External Trade Development Council chairman James Huang shows a lobster to reporters during a news conference in Taipei yesterday.  Photo: CNA

has bolstered diplomatic ties with Central American allies after a delegation inked deals for US$11.06 million in seafood imports.

Early this month, the nonprofit government-sponsored trade promotion institution led a delegation of 10 local seafood importers, including Mayfull Foods Corp (美福食集), on visits to seafood suppliers in Guatemala, Honduras and Nicaragua.

The council said that it secured long-term procurement deals during the trip for the region’s specialty Pacific white shrimp and Caribbean spiny lobster.

Taiwan has an immense appetite for seafood, with annual imports last year reaching US$400 million, while exports totaled US$100 million, it said.    [FULL  STORY]

Brazil solar entices Taiwanese investment

Brazil government, industry promote the South American country as ideal investment destination for Taiwan

Taiwan News
Date: 2018/09/20
By: Scott Morgan, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – On the sidelines of Energy Taiwan 2018 trade show, trade

ApexBrasil and TAITRA sign MOU to support Taiwanese investment in Brazil solar (By Taiwan News)

agencies from Brazil and Taiwan signed a memorandum of understand (MOU) to help further Taiwanese investment in Brazil’s renewable energy industry.

The MOU was signed during the “Brazilian Solar Investment Opportunities Seminar” held in Taipei on Sept. 20, where opportunities for mutual benefit in Brazil’s rapidly growing solar industry was extolled to over 50 business people.

At the event, Fábio G. Franco, Director of the Commercial Office of Brazil, Taipei said that Brazil and Taiwan are great friends, and collaboration in Brazil’s renewable energy space is a “match made in heaven.”

Leonor Lin (林芳苗), Executive Vice-President of Taiwan External Trade Development Council (TAITRA) spoke highly of the opportunities and benefits laid out in the MOU, and mentioned Taiwan’s commitment to green energy.    [FULL  STORY]

Taiwanese companies advised to move to Central America amid trade war

Focus Taiwan
Date: 2018/09/20
By: Joseph Yeh 

Taipei, Sept. 20 (CNA) Taiwan’s Central American allies have been calling for Taiwanese companies to move their production bases to the area amid the U.S.-China trade war that is beginning to hurt these companies with higher tariffs.

A recent report released by Yuanta-Polaris, a Taiwan-based economic think tank mentioned the country’s machine tool and electronic component industries as the two sectors that will likely be the most affected by the ongoing trade war.

This is because these items account for roughly 50 percent of the total Chinese imports into the U.S., and sooner or later they will be targeted by the U.S. administration, it said.

Many Taiwanese companies use China as a manufacturing base for their machine tools and electronic components, which are then exported to the U.S.   [FULL  STORY]

Export orders hit new record in August

UNCERTAINTY: An escalating US-China trade war continues to cast a cloud on export prospects, but companies with production bases in Taiwan could benefit, an official said

Taipei Times
Date: Sep 21, 2018
By: Ted Chen  /  Staff reporter

Export orders last month rose to a new record high, as Taiwan’s technology suppliers entered their peak season ahead of their clients’ consumer product launches, the Ministry of Economic Affairs said yesterday.

The value of export orders last month rose 4.5 percent sequentially and 7.1 percent annually to US$43.68 billion, besting the ministry’s forecast of 2.5 percent and 5 percent respectively.

Export orders are expected to continue to rise next month to between US$48 billion and US$49.2 billion, Department of Statistics Director-General Lin Lee-jen (林麗貞) told a news conference.

Cumulative orders in the first eight months of this year totaled US$323.91 billion, up 6.9 percent or US$20.79 billion from a year earlier, Lin said.    [FULL  STORY]

Discounts promise holiday weekend fun

Radio Taiwan International
Date: 2018-09-18

A number of attractions in and around Taipei have special offers for the upcoming Mid-Autumn Festival holiday weekend.

The Taipei Children’s Amusement Park has announced it will be extending its opening hours over the Mid-Autumn Festival holiday this weekend. The park will be open until 8pm on Saturday and Sunday and 6pm on Monday, the day of Mid-Autumn Festival. There will also be a number of free arts and crafts activities for kids to take part in.

Taiwanese company wins gold at 2018 Green World Awards

Eco-friendly hair care product company, Hair O’right International, based in Taoyuan, was recognized for the green design of their shampoo bottle

Taiwan News 
Date: 2018/09/18
By: Duncan DeAeth, Taiwan News, Staff Writer

Image from O’right webpage

TAIPEI (Taiwan News) – A Taiwanese hair product manufacturer dedicated to promoting a green lifestyle and creating products made from only environmentally friendly ingredients has been recognized for its quality and contribution to global conservation efforts this week in Europe.

Hair O’right (歐萊德) International, based in Taoyuan City, received the Gold Award in the Carbon Reduction Category at the 2018 Green World Awards held in the U.K.

The company received the award for its shampoo bottle design, which is not only made from 100 percent recycled plastic, but which also features a cap that can be further recycled to achieve an impressive 66.29 percent plastic reclamation rate.

The Green World Awards were founded by the Green Organization in the U.K in 1994, to recognize companies and organizations who have displayed commitment and innovation in protecting the environment and conserving the world’s resources.   [FULL  STORY]

Public to feel effects of economic recovery: vice premier

Focus Taiwan
Date: 2018/09/18
By: Tien Yu-pin and Frances Huang

Taipei, Sept. 18 (CNA) Vice Premier Shih Jun-ji (施俊吉) said he has faith that the public

Vice Premier Shih Jun-ji

will eventually feel the effects brought by the ongoing economic recovery.

In a recent interview with CNA, Shih said that although many people have not yet enjoyed the benefits of the economic recovery, and some enterprises have complained that business has not been good, he said that as time goes by, “it will be proof that the economy is on the way to recovery and the public will be aware of an improvement.”

In mid-August, the Directorate General of Budget, Accounting and Statistics (DGBAS) raised its forecast for Taiwan’s gross domestic product (GDP) growth for 2018 to 2.69 percent from the previous estimate of a 2.60 percent increase made in May, citing better performance in the first half of this year.

Shih said that whenever the GDP grows by one more percentage point in Taiwan, the production value of the country will increase about NT$165 billion (US$5.36 billion), and the 2.69 percent growth means the country’s production growth will increase more than NT$400 billion, of which 55 percent will go to employees, with the remaining 45 percent going to employers.    [FULL  STORY]

First sandbox experiment approved

CREDIT SCORES: The 4,000 participants can apply for credit cards and personal loans online, while KGI is to create a microcredit strategy based on telecom bill payments

Taipei Times
Date: Sep 19, 2018
By: Kao Shih-ching  /  Staff reporter

The first experiment in the nation’s “regulatory sandbox” is to begin on Dec. 5, Financial Supervisory Commission Chairman Wellington Koo (顧立雄) said yesterday.

KGI Bank (凱基銀行) and Chunghwa Telecom Co (中華電信) are collaborating on the experiment, whose loan and credit lines are to be limited to NT$200 million (US$6.49 million), Koo said at the opening ceremony of FinTechSpace in Taipei.

The commission gave the green light to the experiment earlier yesterday, Koo said, adding that 4,000 people are to take part.

Through the experiment, KGI Bank is to gain access to new customers, including people without any bank accounts or records, Department of Planning Director-General Lin Chih-chi (林志吉) said.    [FULL  STORY]

US tariffs do not affect Taiwan companies’ return: Official

Radio Taiwan International
Date: 2018-09-17

A US plan to impose additional tariffs on Chinese products is unlikely to change 20 Taiwanese businesses’ decision to move their operations from China back to Taiwan. That was the word from Economics Minister Shen Jong-chin on Monday.

Shen’s comments follow reports that the Trump administration will announce on Monday an additional US$200 billion in tariffs against China. It was reported that the tariffs will be slashed from 25%, which was the original plan, down to 10%.    [FULL  STORY]