Business and Finance

Average monthly salary in Taiwan rose to NT$40,792 in April

Average monthly regular salary in Taiwan rose to NT$40,792 in April, largest 4-month increase in 18 years

Taiwan News
Date: 2018/06/13
By: Keoni Everington, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — The average regular monthly salary in Taiwan rose to

Taiwan dollars. (By Central News Agency)

NT$40,792 (US$1,364) in April, a 2.27 percent increase over the same period last year, primarily due to an uptick in the manufacturing sector, announced the Directorate-General of Budget, Accounting and Statistics (DGBAS) on Monday (June 11), reported CNA.

According to statistics released by DGBAS in May, the average monthly wage from Jan. through Mar. averaged NT$40,000, a year-on-year increase of 2.71 percent, the highest increase over the same period in 18 years. For the month of March, the average salary reached NT$40,812, and increase of 2.59 percent, representing an increase of 2 percent for the fourth-straight month.

In April of this year, the average annual regular salary increased to NT$40,792 (US$1,364), a year-on-year increase of 2.27 percent, representing a 2.57 percent increase from January, also the largest increase seen over the same period in 18 years.     [FULL STORY]

Firms listed on main board post over 14% sales growth in May

Focus Taiwan
Date: 2018/06/13
By: Frances Huang 

Taipei, June 13 (CNA) The combined revenue generated by companies listed on the local main board grew more than 14 percent year-on-year in May at a time of continued economic recovery at home and abroad, according to the Taiwan Stock Exchange (TWSE).

The TWSE said the 916 firms on the main board posted about NT$2.6 trillion (US$87.04 billion) in sales in May, up 14.47 percent from a year earlier.

Of the listed companies, 645 reported a year-on-year increase in revenue in May, while 271 suffered a fall in revenue, data compiled by the TWSE showed.

The cement, semiconductor and fuel/utility sectors were the top three sectors in terms of sales growth in that period, the TWSE added.   [FULL  STORY]

M17 suspends its US$60m IPO plan

SILVER LINING: Despite having to halt its debut, the firm has received an injection of US$350 through a private placement, which it plans to use to expand its footprint

Taipei Times
Date: Jun 14, 2018
By: Lisa Wang  /  Staff reporter

M17 Entertainment Ltd (M17娛樂集團), which operates dating app platform 17 Media, yesterday said it has suspended its US$60 million initial public offering (IPO) plan on the New York Stock Exchange (NYSE), ending days of speculation about a flop.

The company made the announcement after it failed to secure any transactions since it rang the bell on Wall Street on Wednesday last week, prompting speculation that overpricing might stifle its debut.

The live-streaming company was given a rough ride for its debut in the US as it was forced to scale down the IPO by lowering offering price to US$8 per American depositary share (ADS).

The company’s original plan sought to trade its ADS from US$10 to US$12 each, which would have boosted its valuation to US$118 million.    [FULL  STORY]

Korean unification could affect Taiwan companies: Experts

Radio Taiwan International
Date: 2018-06-12

Taiwanese economic experts have voiced their opinions on how the meeting between US President Donald Trump and North Korean leader Kim Jong-un could affect Taiwan. The two leaders met in Singapore on Tuesday.

Gordon Sun, director of economic forecasting at the Taiwan Institute of Economic Research, said North Korea has rich resources and manpower. Sun said that a potential unification between North and South Korea could see heightened competitiveness from South Korean enterprises put pressure on Taiwan’s companies. However, Sun said Taiwan can consider what role it can play when the North Korean economy rises.

Meanwhile, Hua Nan Securities Investment chair David Chusaid whether a situation will become an economic threat depends on a country’s competitiveness. However Chu said he does not foresee any effect on Taiwan’s financial market in the short run.
[SOURCE]

Taiwan ranks third in global prospects for employment: Manpower

Only Japan and Croatia look better for the third quarter of 2018

Taiwan News
Date: 2018/06/12
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – According to a global survey by ManpowerGroup, Taiwan

Taiwan ranks third in the world for job prospects during Q3. (By Central News Agency)

ranks third for employment prospects in the third quarter of 2018.

The study focused on 60,000 companies in 44 countries and areas, the Chinese-language Apple Daily reported. In Taiwan, 1,033 companies of more than 10 employees were consulted for the survey between April 17 and 26, with a margin of error at 3.9 percent.

Of the Taiwanese companies in the poll, 29 percent said they were planning to recruit new staff during the third quarter, 3 percent said they would lay off employees, while 67 percent were not planning any changes.    [FULL  STORY]

Taiwan welcomes foreign investment in local securities: president

Focus Taiwan
Date: 2018/06/12
By: Tien Yu-pin and Romulo Huang

Taipei, June 12 (CNA) President Tsai Ing-wen (蔡英文) encouraged foreign investors

President Tsai Ing-wen (蔡英文)

Tuesday to invest in Taiwanese securities, saying that the country’s economy is now in the best condition in two decades.

Speaking at the closing ceremony of the 31st annual meeting of the International Council of Securities Association (ICSA), Tsai said that Taiwan’s economic performance has improved remarkably in recent years, with the stock market flourishing, the unemployment rate declining and salaries increasing in a stable manner.

Meanwhile, the government has been dedicating itself to further strengthening the country’s capital market competitiveness and promoting the upgrading of its industries, she added.    [FULL  STORY]

Largan needs land to expand capacity

TALL ORDER: The company needs at least 30,000 ping of land to expand capacity, and it does not want to turn to China due to rising costs there, CEO Adam Lin said

Taipei Times
Date: Jun 13, 2018
By: Ted Chen  /  Staff reporter, in TAICHUNG

Smartphone camera lens supplier Largan Precision Co (大立光) yesterday said that it is looking to expand its Taiwan-based production capacity provided that the government helps it overcome land scarcity.

“Ideally, the company wants to purchase a large, unbroken plot of 30,000 to 40,000 ping [99,174m2 to 132,232m2 ] in Taiwan to expand production capacity,” Largan chief executive officer Adam Lin (林恩平) told a news conference following the company’s annual shareholders’ meeting in Taichung.

However, due to land scarcity, that would be a tall order without help from the government, despite efforts by the company and property agents, Lin said.

Although China has an abundance of low-priced land, it is not necessarily a better option for expansion, as the company would have to deal with rising wages and labor shortages there, Lin said.    [FULL  STORY]

Going Global: Taiwan Start-ups Aim for Southeast Asia Growth

Southeast Asia is now the focus for Taiwanese start-ups.

The News Lens
Date: 2018/06/11, Business
By: By Matthew Fulco, Taiwan Business TOPICS Magazine

Alex Chen is ebullient about Indonesia. Southeast Asia’s largest nation is integral to the global expansion of EZTable, the online restaurant booking platform Chen established a decade ago in Taipei. It has since become the largest platform of its kind in Asia. Last year, Chen moved EZTable’s headquarters to the Indonesian capital of Jakarta as the company launched its second foray into Southeast Asia after Thailand.

“This is the best environment for startups in Southeast Asia,” he says, citing Indonesia’s strong economy – it grew by more than 5 percent last year – and population of 260 million. The greater Jakarta area alone has 30 million people.

In total, Southeast Asian startups received US$7.86 billion from investors in 2017, up more than 300 percent year-on-year, according to data compiled by tech news site Tech In Asia. Indonesia accounted for more than 22 percent of that investment, second only to Singapore.

In terms of opportunity, “if you think about what China was like 15 years ago, that’s similar to where Indonesia is now,” Chen says. “It’s getting a lot of attention from foreign investors. Everyone wants a piece of the growing pie.”    [FULL  STORY]

Taiwan TDCC releases 2017 CSR report and plans for new e-passbook

An upgraded e-passbook will adopt the latest cloud computing technology and interactive interface

Taiwan News 
Date: 2018/06/11
By: Sophia Yang, Taiwan News, Staff Reporter

TAIPEI (Taiwan News) – Taiwan Depository & Clearing Corporation (TDCC) announced

Chairman & CEO of TDCC Sherman Lin spoke at Monday’s press event about its 2017 CSR report and the plan to launch new version of its epassbook. (By Taiwan News)

the publication of its 2017 CSR report Monday, June 11.

The report issued by TDCC confirms that the company is in compliance with international CSR standards and is also the first of its kind issued by the country’s securities/futures institutions.

Outside its main business focus, TDCC has been dedicated to activities aimed at reducing domestic poverty, hunger, inequality, and environmental pollution, while also working to increase the quality of education in remote villages and youth employment numbers.

Their achievements noted in the report include: going paperless by launching a string of e-services, offering finance education programs for disadvantaged college students every school year since 2015, sponsoring sports education and events in remote rural areas, and improving financial literacy among school kids.
[FULL  STORY]

Manufacturing sector sales up for 6th straight quarter in Q1

Focus Taiwan
Date: 2018/06/11
By: Liao Yu-yang and Frances Huang

Taipei, June 11 (CAN) Revenue generated by Taiwan’s manufacturing sector posted a year-on-year increase in the first quarter of this year, for the sixth quarter in a row, at a time of continued economic recovery at home and abroad, the Ministry of Economic Affairs (MOEA) said Monday.

Data compiled by the MOEA showed the local manufacturing sector generated NT$6.28 trillion (US$211 billion) in the January-March period, up 0.7 percent from a year earlier.

However, the sales growth moderated from a 5.8 percent year-on-year increase in the fourth quarter of last year as the local computer/optoelectronics sector suffered a decline in sales in the January-March period, when global demand for handheld devices weakened, the MOEA said.    [FULL  STORY]