Business and Finance

Genius expects operations to stabilize

CONTINUED EFFORTS: Optimistic about leaving dramatic swings in the past, chairman Jones Chen said Genius has improved management, training, products and yield rates

Taipei Times
Date: Dec 08, 2017
By: Lauly Li  /  Staff reporter

The earnings performance of Genius Electronic Optical Co (玉晶光), a supplier of smartphone camera lenses for Apple Inc’s iPhones, is expected to stabilize in the near term due to the company’s continued efforts to improve efficiency and yield rates, chairman Jones Chen (陳天慶) said yesterday.

“It is estimated that our operation will not dramatically fluctuate like in the past,” Chen told a teleconference.

Genius reported net income of NT$312.92 million (US$10.42 million) for last quarter, the company’s fifth consecutive profitable quarter.

In the first three quarters of this year, cumulative net income reached NT$468.98 million, or earnings per share of NT$4.7, company data showed.    [FULL  STORY]

Premier highlights gov’t support for ICT industry

Radio Taiwan International
Date: 2017-12-06

Premier William Lai says the government is working to develop Taiwan’s information and

(CNA)

communications technology (ICT) sector.

Lai was speaking Wednesday at the opening of consumer electronics show Itmonth. Lai said the show, which has run for several decades, has seen the development of Taiwan’s ICT sector. The government wants to work with the sector and bring about more development.

The Cabinet has worked to help the sector by allocating funding to technology. This year’s technology budget is more than NT$100 billion (US$3 billion), with most of the funds going to the ICT field. The government is revising a number of laws in ways that will benefit the ICT sector, with several bills currently in the Legislature.

Lai said in addition to providing funding and reforming laws, the government is also working to provide the infrastructure and train the workers the ICT sector needs.
[SOURCE]

Gartner: Top five smartphone vendors achieved growth in third quarter 2017   

All of the top five smartphone vendors achieved double-digit growth apart from Apple, which achieved a 5.7 percent increase, according to Gartner, Inc.

Taiwan News 
Date: 2017/12/06
By: George Liao,Taiwan News, Staff Writer

TAIPEI (Taiwan News)– All of the top five smartphone vendors achieved double-digit

All of the top five smartphone vendors achieved double-digit growth apart from Apple, which achieved a 5.7 percent increase, according to Gartner, Inc

growth apart from Apple, which achieved a 5.7 percent increase, according to Gartner, Inc.

Global sales of smartphones to end users totaled 383 million units in the third quarter of 2017, a 3 percent increase year over year, according to Gartner.

“In emerging Asia Pacific, both Samsung and Huawei saw healthy demand as along with Xiaomi and Vivo, which were able to grow their footprint outside their home markets,” said Anshul Gupta, research director at Gartner. “In North America, Samsung was the driving force in the quarter due to its new flagship products.”

Samsung’s smartphone sales recorded a double-digit increase (19.3 percent) in the third quarter of 2017. “Renewed pushes of the newly designed Galaxy S8, S8+ and Note 8 smartphones have brought back growing demand for Samsung smartphones, which helped it compete against Chinese manufacturers and deliver a solid performance in the quarter,” said Gupta. He added that the last time Samsung achieved a double-digit growth was in the fourth quarter of 2015.     [FULL  STORY]

Technology ministry working with Microsoft on AI development

Focus Taiwan
Date: 2017/12/06
By: Chu Tse-wei and Frances Huang

Taipei, Dec. 6 (CNA) The Ministry of Science and Technology (MOST) signed a

President of Microsoft Taiwan Sun Chi-kang (孫基康, right) and Science and Technology Minister Chen Liang-gee (陳良基, third right)

memorandum of understanding with U.S. high-tech giant Microsoft Corp. Wednesday on artificial intelligence (AI) development.

The MOST’s National Applied Research Laboratories (NARLabs) inked the accord for the strategic partnership on behalf of the ministry, aimed at cooperation with Microsoft in three arenas of AI: big data technology, AI platform development and efforts to cultivate a talent pool, NARLabs said.

According to NARLabs, Microsoft is one of the major enterprises in the world that can provide big data services, so the cooperation is expected to allow NARLabs researchers to use the U.S. partner’s smart data search tools to pin down data they need quickly for analysis.    [FULL  STORY]

Casetek to receive iPhone orders

DECLINING PROFIT: A dissatisfying yield of casings delayed the shipments of partly assembled iPhones to Pegatron, which had a major impact on the firm, a source said

Taipei Times
Date: Dec 07, 2017
By: Lauly Li  /  Staff reporter

Casetek Holding Ltd (鎧勝), Pegatron Corp’s (和碩) metal casings subsidiary, is expected to enter the supply chain for Apple Inc’s iPhones next year, after years of preparation, a source said yesterday.

“Pegatron’s strong capability to assemble ‘thousands’ of components and integrate systems will help Casetek to deliver handset casing that combine glass and aluminum alloys,” a person familiar with the matter told a small group of reporters on condition of anonymity.

Casetek supplies metal casings for Apple’s iPads and MacBooks. It has expressed interest in expanding its presence in the Apple supply chain for years.

The source said Casetek’s orders came after the US company’s metal casing suppliers encountered harder-than-expected issues with production this year after Apple changed its casing materials, using glass for the front and back covers with an aluminum alloy to support the frame of the casing.    [FULL  STORY]

Taiwan Water Corp chief to sign MOU in Philippines

Radio Taiwan Internatioal
Date: 2017-12-05

The head of Taiwan Water Corporation, Jimmy Kuo, traveled to the Philippines on Tuesday. Kuo said the Philippines and other countries in Southeast Asia are facing similar challenges to Taiwan in water conservation.

Kuo said the Philippines has issues with water quality in the lakes that supply water to the densely populated Metro Manila area. He said Taiwan has experience and technology in water conservation that it would be willing to share with local authorities.

Kuo said he expects Taiwan Water Corporation to sign a memorandum of understanding with cities in the Philippines. The agreement would cover water inspections and water quality management as well as exchanges of personnel and technology.

Kuo will also represent Taiwan at a ministerial-level meeting on economic cooperation on Thursday.
[SOURCE]

Taiwan-UK economics and trade consultation wraps up in London

Representatives of the two countries pledged to expand collaboration

Taiwan News  
Date: 2017/12/05
By: Taiwan Today,Agencies

The annual Taiwan-U.K. consultation on economics and trade wrapped up Dec. 1 in London, with the two

MOEA Vice Minister Wang Mei-hua (front right), and UK Minister of State for Intl. Trade Greg Hands (front left) at trade talks Dec.1 in London

sides pledging to expand collaboration across the board, the Ministry of Economic Affairs said.

During the one-day meeting convened by MOEA Vice Minister Wang Mei-hua and British Minister of State for International Trade Greg Hands, the two sides discussed issues spanning such areas as financial services, intellectual property rights protection, medical technology evaluation and renewable energy.

According to Wang, Taiwan and the U.K. agreed to discuss ways to further strengthen ties and committed to establishing new platforms for deepening cooperation on agriculture and energy starting from the next consultation.

Hands said the U.K. attaches great importance to expanding exchanges with Taiwan’s vibrant economy, adding that its open consumer market offers significant opportunities for British businesses as his country prepares to leave the EU.    [FULL  STORY]

Taiwan’s forex reserves hit new high in November

Focus Taiwan
Date: 2017/12/05
By: Chiu Po-sheng and Frances Huang 

Taipei, Dec. 5 (CNA) Taiwan’s foreign exchange reserves at the end of November hit a new high on the back of an increase in returns on funds managed by the central bank, the bank’s data showed Tuesday.

The central bank said the increase in forex reserves in November also reflected the euro’s appreciation against the U.S. dollar to boost the total assets, since the European currency is part of the central bank’s assets management portfolio.

As of the end of November, forex reserves totaled US$450.47 billion, up US$2.68 billion from a month earlier, the statistics indicate.

It was the eighth consecutive month in which the forex reserves moved higher, the central bank said.
[FULL  STORY]

CTBC Financial fined over bail money

‘REPEATEDLY FALTERED’: The company acted against the interests of its stakeholders by providing bail money without verifying the innocence of the suspects, the FSC said

Taipei Times
Date: Dec 06, 2017
By: Ted Chen  /  Staff reporter
The Financial Supervisory Commission (FSC) yesterday meted out penalties to CTBC Financial Holding Co (中信金控) for providing total bail money of NT$100 million (US$3.33 million) to a number of employees, but mostly to a major shareholder, who were charged with embezzlement in June last year.

The commission fined the company NT$10 million and suspended company president Daniel Wu (吳一揆) and chief compliance officer Aaron King (金延華) for six months and three months, respectively.

By providing the bail money without verifying the innocence of the defendants, the company acted against the interests of its stakeholders and violated compliance and internal control rules, the commission said.

More than NT$90 million of the bail money was earmarked for Jeffrey Koo Jr (辜仲諒), a major shareholder and scion of the company’s founders.    [FULL  STORY]

MAC: Logistics cooperation with HK can help New Southbound Policy

Radio Taiwan International
Date: 2017-12-04

Taiwan’s top China policymaker says closer cooperation with Hong Kong in the area of logistics can

MAC Minister Katharine Chang (CNA)

facilitate Taiwan’s implementation of the New Southbound Policy. The policy aims to strengthen ties with Southeast Asia, South Asia, New Zealand and Australia.

The policymaker, Mainland Affairs Council Minister Katharine Chang, was speaking at a forum in Taipei on Taiwan-Hong Kong cooperation in logistics and distribution channels.

Chang said trade between Taiwan and Hong Kong is strong. Right now, Taiwan is Hong Kong’s third biggest trade partner while Hong Kong is Taiwan’s fourth largest trade partner. Taiwan sees 13% of its exports go to Hong Kong.

Hong Kong signed a free trade agreement with ASEAN in November. Chang says that means it’s a great time for Hong Kong and Taiwan to work together.    [FULL  STORY]