Business and Finance

Far Eastern New Century issues green bonds

Focus Taiwan
Date: 2018/01/08
By: Wei Shu and Frances Huang

Taipei, Jan. 8 (CNA) Far Eastern New Century Corp., one of the leading textile firms in

Far Eastern New Century Corp. Chairman Douglas Hsu CNA file photo

Taiwan, listed NT$3 billion (US$102 million) in green bonds on the over-the-counter (OTC) market Monday, making it the first local private manufacturer to sell such bonds in the local market, according to the Taipei Exchange (TPEx).

The initiative, promoted by the local capital market, is aimed at showing corporate responsibility with regard to environmental protection, with the proceeds going toward funding environmentally friendly projects, the TPEx said.

Far Eastern New Century is also the third manufacturer in Taiwan to echo the government’s advocacy of strengthening environmental protection efforts in the country after state-run oil refiner CPC Corp., Taiwan, and Taiwan Power Co. (Taipower) began selling green bonds last year, the TPEx said.    [FULL  STORY]

Phison expects stimulated chip demand

HEALTHIER PATH: Phison Electronics Corp said that ‘it is going to be a growth year at least in terms of shipments,’ as it leans on partners Toshiba and Kingston Technology

Taipei Times
Date: Jan 09, 2018
By: Lisa Wang  /  Staff reporter

Phison Electronics Corp (群聯電子), a Taiwanese supplier of NAND flash memory controllers and modules, expects stimulated demand this quarter thanks to a 30 percent price correction for NAND flash memory chips, putting the industry back on a healthier path, a company executive said.

For Phison, “it is going to be a growth year at least in terms of shipments in 2018,” Phison chairman Pua Khein-seng (潘健成) told reporters during a media gathering on Friday night.

Shipments of NAND flash memory controllers are expected to increase 74 percent to 40 million units this year from 23 million units last year, Pua said.

The robust growth can be attributed to the company’s strong strategic partnerships with Toshiba Corp, which helps the company secure a sufficient supply of NAND flash memory chips ahead of its competitors amid a supply crunch, Pua added.
[FULL  STORY]

Taiwanese computer company ACER unveils new Chromebook 11 laptop 

The ultralight laptops with 29 cm display will go on sale for less than NT$8,000

Taiwan News 
Date: 2018/01/07
By: Duncan DeAeth, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – On Jan. 6, The Taiwanese computer manufacturer ACER made a press release providing some details about one of its newest products to be released in 2018.

The announcement drew a lot of interest for the budget priced laptop Chromebook 11, with a price tag of just US$ 250.

The small lightweight computer is designed primarily for entertainment and light workloads.

In the press release, ACER claims the computer has a battery that will provide 10 hours of use on a single charge. It can be operated by both touch-display and non-touch display.    [FULL  STORY]

iPhone dip may hurt Hon Hai earnings

QUICK FULFILLMENT: Analysts said wait times of two days or less, instead of five to six weeks, for iPhone X shipments indicate demand for the premium smartphone is waning

Taipei Times
Date: Jan 08, 2018
By: Lauly Li  /  Staff reporter

Hon Hai Precision Industry Co’s (鴻海精密) earnings performance this quarter is estimated to fall below market expectations, due to sluggish demand for Apple Inc’s iPhone X, Daiwa Capital Markets Inc forecast.

“We think Hon Hai, the sole assembler for iPhone X, is not immune to the muted demand for the handset model,” Daiwa analyst Kylie Huang (黃奎毓) said in a client note on Wednesday.

Daiwa’s supply chain research shows that iPhone X component vendors are facing a quarterly decline in orders of between 15 and 25 percent, Huang said.

The “wait time” — which refers to the length of time between the placement of orders by consumers and the delivery of products by Apple — for the iPhone X in some major markets, such as in the US, the UK, Hong Kong, Singapore, Japan and China, is within two days, Huang said.    [FULL  STORY]

Formosa Petrochemical to hike fuel prices next week

Focus Taiwan
Date: 2018/01/06
By: Chung Jung-feng and Frances Huang

Taipei, Jan. 6 (CNA) Formosa Petrochemical Corp., a private fuel supplier in Taiwan, said Saturday that it will raise its domestic gasoline and diesel prices next week, after crude oil prices in the U.S. market reached US$62 per barrel at one point earlier this week.

Higher international crude oil prices due to diminishing concerns over a global supply prompted Formosa Petrochemical to raise its gasoline and diesel prices by NT$0.2 (US$0.007) per liter, effective from 1 a.m. Monday.

It is the fourth consecutive week that Formosa Petrochemical will increase domestic fuel prices.    [FULL  STORY]

TAIEX edges up on late trades of large-cap stocks

Taipei Times
Date: Jan 07, 2018
By: Staff writer, with CNA and AFP

Local shares on Friday closed moderately higher as late buying helped the broader market recoup earlier losses, but the main board was in consolidation mode throughout the session after solid gains over the previous few days, dealers said.

The last-ditch buying focused on the three largest cap stocks in the local equity market — Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), iPhone assembler Hon Hai Precision Industry Co (鴻海精密) and Formosa Petrochemical Corp (台塑石化) — pushing the broader market into positive territory, they said.

Sentiment has turned cautious, capping the recent upturn, as many investors wait for the upcoming earnings season, with smartphone camera lens supplier Largan Precision Co (大立光) having scheduled an investor conference for Thursday, they added.

The TAIEX on Friday closed up 31.17 points, or 0.29 percent, at the day’s high of 10,879.80, off an early low of 10,815.68, on turnover of NT$140.86 billion (US$4.77 billion). That was an increase of 2.2 percent from a close of 10,642.86 on Dec. 29 last year.    [FULL  STORY]

TWSE to relax rules to attract foreign companies

Radio Taiwan International
Date: 2018-01-05

The Taiwan Stock Exchange Corporation (TWSE) will work on relaxing regulations to make it easier for companies to enter the local market. That’s the word from TWSE chair Hsu Jan-yau on Friday.

Hsu said he hopes to attract Taiwanese companies abroad to move back to Taiwan. He said his office is focusing on Taiwanese companies in Vietnam and Malaysia that are doing well and looking to see if they are willing to move their operations back to Taiwan.

Hsu said in recent years, the stock exchange has approached not only countries targeted by the New Southbound policy but also the US, Japan and South Korea. The New Southbound policy aims to strengthen Taiwan’s ties with countries in Southeast Asia and South Asia, as well as Australia and New Zealand.    [FULL  STORY]

Taiwan’s StarLux Airlines to launch in 2020

New company is recruiting up to 100 staff

Taiwan News 
Date: 2018/01/05
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – StarLux Airlines (星宇航空), the new airline planned by former

StarLux Airlines plans to launch flights in 2020. (image from Facebook page).

EVA Air (長榮航空) Chairman Chang Kuo-wei (張國煒), will start operating in 2020, while it launched a drive Friday to recruit almost 100 staff.

The new company was hoping to complete all legal formalities by the end of 2019 and start flights in 2020, the United Daily News reported Friday.

StarLux was looking for personnel from insurance advisers and cabin staff to a mobile app developer, according to the recruitment ads. However, it had already about 60 people working and the basic company structure was in place, reports said.

StarLux, which used the slogan “One Team, One Dream” in its ad, said it wanted to become an airline exceeding the expectations of passengers and recruiting outside the traditional confines of an airline business.    [FULL  STORY]

Forex reserves at end-2017 continues to hit high

Focus Taiwan
Date: 2018/01/05
By: Chiu Po-sheng and Frances Huang

Taipei, Jan. 5 (CNA) Taiwan’s foreign exchange reserves at the end of 2017 kept hitting a new high after returns on funds managed by the central bank increased from a month earlier, the bank’s data showed Friday.

In addition, the appreciation of the euro, which is part of the central bank’s portfolio in managing its forex reserves, also contributed to the growth in the month, the central bank’s data indicated.

At the end of December, the country’s forex reserves totaled US$451.5 billion, up US$1.03 billion from the end of November.

It was the ninth consecutive month for Taiwan to report a record high in forex reserves, the central bank’s data showed.    [FULL  STORY]

Largan revenue falls on weak demand

FALLING APPLE: The result came amid speculation that the iPhone X failed to spur replacement demand, which likely contributed to Catcher’s revenue also dropping

Taipei Times
Date: Jan 06, 2018
By: Lisa Wang  /  Staff reporter.

Largan Precision Co (大立光), which supplies camera lenses for Apple Inc’s iPhones, yesterday said that its revenue last month contracted 13 percent month-on-month, citing weak demand from certain clients.

The weakness came amid market speculation that Apple’s iPhone X failed to stimulate replacement demand, given its significant price tag.

Consolidated revenue last month fell to a five-month low of NT$4.88 billion (US$165.29 million), compared with NT$5.61 billion in November last year, the company said in a statement.

“The decline was due to slow customer demand, which largely matched the company’s expectations [for last month],” a Largan investor relations official said by telephone.

The Taichung-based firm had earlier issued guidance for a decline in revenue for last month as shipment momentum was losing steam after hitting its peak in November.
[FULL  STORY]