Business and Finance

Credit Suisse Taiwan manager suspected of insider trading

Accusations refer to 2016 HMI takeover by ASML of the Netherlands

Taiwan News
Date: 2017/03/07
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Credit Suisse Taiwan CEO Elsa Chiu (邱慧平) was suspected of having made NT$21 million (US$679,000) in profits from insider trading in the takeover of Hermes Microvision Inc. (HMI,漢微科) by ASML of the Netherlands, reports said Tuesday.

The NT$100 billion (US$3.2 billion) deal was the second biggest merger of 2016 in Taiwan. HMI produces chip-making equipment, while ASML is the world’s largest supplier of photolithography systems for the semiconductor industry.

The Taiwan branch of Credit Suisse was in charge of handling the deal, and as soon as it was known to be successful, but before the public announcement, Chiu asked friends to buy large quantities of shares in HMI, media reports alleged Tuesday.
[FULL  STORY]

Taiwan cautiously optimistic about exports in H1 of 2017

Focus Taiwan
Date: 2017/03/07
By: Bernie Chiu and Lilian Wu

Taipei, March 7 (CNA) The Ministry of Finance (MOF) said Tuesday that it is cautiously optimistic about Taiwan’s exports in the first half of this year, given that a new generation of the iPhone, reported to have a breakthrough innovation, could be a big boost to Taiwan’s contract suppliers.

In addition, orders for TFT-LCD flat panel display maker AU Optronics (友達光電) have extended into next year, the ministry said.

The ministry expressed cautious optimism upon releasing its latest export figures for February, which show an increase for the fifth consecutive month on a year-on-year basis.    [FULL  STORY]

Costlier oil boosts FPC revenue

POSITIVE OUTLOOK:Crude oil prices have increased 85% year-on-year, helping to stimulate the prices of downstream petrochemical products, president Jason Lin said

Taipei Times
Date: Mar 08, 2017
By: Kuo Chia-erh / Staff reporter

Formosa Plastics Group (台塑集團), the nation’s largest industrial conglomerate, yesterday reported revenue of NT$120.68 billion (US$3.91 billion) for last month, 31.2 percent year-on-year growth as it benefited from higher crude oil prices.

However, that was a 6.8 percent decline from the previous month, with company officials attributing to fall to regular and unexpected facilities maintenance which reduced production output.

Of the group’s four major units, Formosa Plastics Corp (FPC, 台灣塑膠), the group’s flagship company, posted the highest sales growth.

Revenue at FPC, the nation’s largest producer of polyvinyl chloride, grew 34.1 percent year-on-year and 1.1 percent month-on-month to NT$12.97 billion, company data showed.    [FULL  STORY]

Tesla’s Model X is coming to Taiwan

The China Post
Date: March 8, 2017
By: By Christine Chou

After delivering the first batch of the Model S vehicles to Taiwan earlier this year, electric

The falcon-wing doors of Tesla Motor’s Model X lift upward during a demonstration at the vehicle’s launch party in Taipei on Tuesday, March 7. The world’s most celebrated electric car maker is introducing the Model X to Taiwan, making it the second vehicle to hit local streets after the Model S. (CNA)

car maker Tesla Motors unveiled Tuesday its second vehicle to hit local streets: the Model X, a family-friendly all-electric sports utility vehicle (SUV) that starts at around NT$4.04 million.

The Model X is the third vehicle produced by the automaker, after the Roadster — which was discontinued in 2012 — and the Model S sedan.

It expects to debut the new, lower-priced sedan Model 3 later this year. Selling for under US$40,000, Tesla’s Model 3 has already received over 400,000 orders worldwide in about a month.

The Model X, which was introduced in 2015, features rear upward-opening falcon-wing doors as well as a driver’s door that opens on approach and closes itself when the driver is seated.    [FULL  STORY]

DGBAS chief says that consumers shouldn’t buy bananas if prices are too high

Chu Tzer-ming noted that long-term depreciation of the NTD could be good for consumers

Taiwan News
Date: 2017/03/06
By: Matthew Lubin, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — Legislator Lo Ming-Tsai (羅明才) questioned Directorate-

(By Central News Agency)

General of Budget, Accounting and Statistics (DGBAS) Minister Chu Tzer-ming (朱澤民) over rising produce prices this morning in the Legislative Yuan Finance Committee.

When asked how long it had been since he ate a banana, Chu responded that he doesn’t eat bananas, UDN reported. The questioned was aimed at raising concern over the high prices of the fruit, which has nearly doubled in the last year.

Lo noted that banana prices have risen to the point that some people cannot afford to eat them. Chu responded that if the price is too high, people should not buy them. Lo retorted that the price of McDonald’s food has also risen, to which Chu said he also rarely eats at the fast food chain.    [FULL  STORY]

Taiwanese produce to be promoted in Japan

Focus Taiwan
Date: 2017/03/06
By: Wang Shu-fen and Lee Hsin-Yin

Taipei, March 6 (CNA) Kaohsiung Mayor Chen Chu (陳菊) announced Monday that she

(Photo courtesy of Kaohsiung City government)

will lead a delegation comprised of officials and agricultural representatives from eight Taiwanese counties and cities to promote Taiwan’s produce in Japan from March 7 to 10.

There will be representatives from 129 companies in the delegation, which is the largest-ever Taiwan is sending to Foodex Japan, an annual trade show for food and beverages in Tokyo, Chen said.

The delegation is 15 percent bigger than it was last year, Chen said, and she hoped sales at the show can grow by at least 20 percent from 2016.

The other areas represented in the delegation aside from Kaohsiung are Pingtung County, Chiayi City, Chiayi County, Taichung City, Tainan City, Yunlin County and New Taipei City.    [FULL  STORY]

PMI rises for 12th consecutive month

ON THE UP:Electronics saw the highest gain at 63.1, in strong showings for all manufacturing sectors, while non-manufacturing contracted due to the slow season

Taipei Times
Date: Mar 07, 2017
By: Crystal Hsu / Staff reporter

The official manufacturing purchasing managers’ index (PMI) rose to 55.8 last month, retaining its expansion for the 12th consecutive month, driven mainly by robust demand for electronic and optical devices from overseas and domestic markets, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.

The latest PMI data suggests the nation’s export-focused economy remains on the course of recovery, as the manufacturing sector accounted for the bulk of exports.

Firms in all manufacturing sectors reported a solid increase in new orders, with the exception of food and textile makers due to the slow season, the survey found.

The survey aims to gauge the changes in of the manufacturing industry, with scores above 50 indicating expansion and values below the threshold suggesting a decline.
[FULL  STORY]

Have a 4K TV? Chunghwa unveils 4K content to go with it

The China Post
Date: March 7, 2017
By: Kuan-lin Liu.

TAIPEI, Taiwan — Chunghwa Telecom said its MOD 4K digital media player was available to preorder by customers on its 300M broadband plan.

The telecommunications giant announced its MOD 4K service on Monday at an event that saw government officials and players in the broadcasting industry.

At the event, Chunghwa Telecom’s Chairman Cheng Yu (鄭優) said the company’s mission was to work with local hardware, content and cultural industries to promote the domestic “4K industrial value chain.”

According to company officials, there is currently a large supply of 4K television sets but no 4K content.    [FULL  STORY]

New car sales fall by almost half

YEARLY FIGURES UP:Hotai Motor remained the top seller in Taiwan, while China Motor and Yulon Nissan switched places from last month among local firms

Taipei Times
Date: Mar 06, 2017
By: Staff writer, with CNA

New car sales in Taiwan fell 46.7 percent last month from the previous month to 24,215 units after the Lunar New Year shopping season, market statistics showed.

However, the figure was 12.3 percent higher than a year earlier, the data showed.

Hotai Motor Co (和泰汽車), the local sales agent for Japan’s Toyota Motor Corp, remained the top vehicle vendor in Taiwan, selling 6,048 units last month, down 51.06 percent month-on-month and 7.9 percent year-on-year, the statistics showed.

China Motor Corp (中華汽車), which markets cars under the Mitsubishi brand, rose one spot to second with sales of 3,003 units, a monthly drop of 36.2 percent, but an annual rise of 29 percent, the statistics showed.    [FULL  STORY]

CPC to retain fuel prices this week

Focus Taiwan
Date: 2017/03/05
By: Yang Su-min and Ko Lin

Taipei, March 5 (CNA) The state-owned CPC Corp., Taiwan (中油) said Sunday that it

(CNA file photo)

has decided not to adjust its gasoline and diesel prices this week.

Fuel prices at CPC gas stations islandwide will remain at NT$22.6 per liter for super diesel, NT$24.9 per liter for 92 octane unleaded, NT$26.4 per liter for 95 unleaded and NT$28.4 per liter for 98 unleaded, the company said.

CPC said its decision was based on a spike in United States’ commercial crude inventory for the eighth consecutive week.

Meanwhile, the company’s major competitor, Formosa Petrochemical Corp. (台塑石化), also announced Saturday that its fuel prices would remain unchanged this week.
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