Business and Finance

Taipei 101 chair confirms China’s talent poaching

Focus Taiwan
Date: 2015/06/08
By: Milly Lin and Elizabeth Hsu

Taipei, June 8 (CNA) The chairwoman of Taipei Financial Center Corp. (TFCC), which 201506080027t0001manages Taiwan’s landmark skyscraper Taipei 101, confirmed Monday that Cathy Yang (楊文琪), the TFCC general manager responsible for the building’s operation, has been recruited to manage Shanghai Tower, the tallest building in China and second tallest in the world.

TFCC Chairwoman Christina Song (宋文琪) said “people have legs” when asked in response to a Monday newspaper report that the Shanghai Tower operator has succeeded in recruiting Yang by offering her a salary that doubles her wage at TFCC.

Giving her blessing on Yang’s new job, Song said talented people always have the opportunity to work anywhere in the world. “Taipei 101 also welcomes international talent to work in Taiwan,” she said, adding that “talent flows are part of a virtuous circle.”

Taipei 101 already has an established legal representative procedure, with no resulting gaps at any work level that could affect the company’s operations, Song said.     [FULL  STORY]

Taiwan FSC to look into HTC’s cut in Q2 sales forecast

Want China Times
Date: 2015-06-08
By: CNA

The Financial Supervisory Commission (FSC), the top financial regulator in Taiwan, will E903WUC6H_2013資料照片_copy1launch an investigation into HTC after the smartphone maker unexpectedly cut its sales forecast for the second quarter.

FSC chairman Tseng Ming-chung said Monday that he has asked the Taiwan Stock Exchange to determine whether HTC was aware that it might post a net loss of nearly NT$10 (US$0.32) per share in the current quarter when the company held its annual shareholders meeting on June 2.

Companies issue forecasts voluntarily and HTC’s release of a new forecast on June 5 did not pose any procedural problems, Tseng said on the sidelines of a meeting of the Legislature’s Finance Committee.

But the Taiwan Stock Exchange will still check the work sheets reported by HTC to see why the company did not reveal its reduced sales forecast to its shareholders on June 2, Tseng said.

The FSC chief noted that HTC remains “a highly respectable brand” and said he still has high regard for the company’s brand value.

HTC shares drop by daily limit

Taipei Times
Date: Jun 09, 2015
By: Lauly Li  /  Staff reporter

HTC Corp (宏達電) shares plummeted by the 10 percent daily limit to NT$83.6 in Taipei trading yesterday, hitting the lowest level in the company’s history, after the firm unexpectedly forecast a quarterly loss.

A total of NT$7.61 billion (US$243.32 million) of the smartphone maker’s market value evaporated, leaving NT$69.13 billion yesterday, from NT$76.74 billion on Friday last week.

The firm said in a statement released on Friday that it would lose between NT$9.7 and NT$9.94 per share this quarter, rather than earnings of NT$0.06 and NT$0.34 per share as estimated earlier this year.

HTC also slashed its sales guidance by nearly 30 percent to between NT$33 billion and NT$36 billion from the previous estimate of between NT$46 billion and NT$51 billion, citing rising competition, a change to the product mix and reduced scale.     [FULL  STORY]

Hon Hai speeding up e-commerce development

Focus Taiwan
Date: 2015/06/07
By: Jalen Chung and Jeffrey Wu

Taipei, June 7 (CNA) Taiwan’s Hon Hai Precision Industry Co. (鴻海), the world’s largest

Hon Hai's headquarters in New Taipei.

Hon Hai’s headquarters in New Taipei.

contract electronics maker, is accelerating its efforts to develop its e-commerce platform, as part of a plan to expand into businesses other than manufacturing.

Hon Hai, also known as Foxconn Technology Group, announced May 25 that its subsidiary Hongfujin Precision Industry (Shenzhen) Co. had acquired an import company, Shenzhen Fuxuntong Trading.

The announcement of the 80 million Chinese yuan (US$12.9 million) investment came the day after Hon Hai’s FoxconnMall.com, a one-stop business-to-business e-commerce portal, went online.     [FULL  STORY]

Taiwan service sector sluggish for second consecutive month

Want China Times
Date: 2015-06-07
By: CNA

The index for Taiwan’s services activity flashed a “yellow-blue” light in April for the

A window display in Taipei. (File photo/Chang Kai-yi)

A window display in Taipei. (File photo/Chang Kai-yi)

second month in a row, signaling a sluggish climate, according to the Commerce Development Research Institute (CDRI).

The CDRI, a Taiwan economic think tank, said in a report Friday that the service industry (ISI) index stood at 98 points in April, one point higher than in March, but still in the yellow-blue range of 93-99.

The entire service sector was adversely affected in April by falling revenues in the transportation business, the CDRI said.

The April ISI, one point lower than the CDRI’s forecast, also remained weak as a result of sluggish commercial sales in Taiwan during the usual slow season for the service sector, the report said.     [FULL  STORY]

Analysts upbeat on TAIEX this week

BAND CAMP:The widened trading band of 10 percent would be a neutral factor going forward, as investors refocus on fundamental issues, domestic analysts said

Taipei Times
Date: Jun 08, 2015
By: Crystal Hsu  /  Staff reporter

The TAIEX is likely to consolidate this week with a positive bias on the back of technical rebounds and investors feeling more comfortable with the trading band increase, analysts said yesterday.

However, financial volatility in Europe and the US could merit caution, as Greece’s debt payments and potential US Federal Reserve interest rate hikes continue to weigh on sentiment, analysts said.

The main trading index shed 3.72 percent, or 360.94 points, in five straight sessions last week after authorities relaxed the trading band from 7 percent to 10 percent, in line with global practices.     [FULL  STORY]

Most firms in Taiwan willing to hire first time job seekers: poll

Focus Taiwan
Date: 2015/06/07
By: Zoe Wei and Kuo Chung-han

Taipei, June 7 (CNA) The majority of Taiwan companies have no problem employing first 201506070009t0001time job seekers, but would prefer that the applicants have some practical experience and professional certification or license, according to a poll by TaiwanJobs website.

The poll found that 90 percent of enterprises are willing to hire first time job seekers who are eager to learn, can perform well under stress, can think logically and have specialized knowledge and skills.

More than 60 percent of the firms, however, said they do not care about the educational level of first-time job applicants, while among the 38.70 percent of firms that said they do care, 77 percent specified that they would prefer college graduates.     [FULL  STORY]

Apple Watch to hit store shelves in Taiwan on June 26

Want China Times
Date: 2015-06-06
By: CNA

The Apple Watch is scheduled to go on sale in Taiwan on June 26, according to

A screenshot from Apple's official website. (Internet photo)

A screenshot from Apple’s official website. (Internet photo)

US-based consumer electronics giant Apple.

According to a statement released on its website Thursday, the Apple Watch will be available in the Apple Online Store, Apple’s retail stores and select Apple authorized resellers in Taiwan.

In addition to Taiwan, Italy, Mexico, Singapore, South Korea, Spain and Switzerland will join the next round of sales of the Apple Watch, which was unveiled in April and sparked enthusiasm toward wearable devices around the world.

The long-anticipated Apple Watch in Taiwan features a wide range of unique technology, including the latest touch technology–Force Touch, which will allow users to change some settings by pressing firmly on the screen.     [FULL  STORY]

Service sector remains sluggish for 2nd consecutive month

Focus Taiwan
Date: 2015/06/06
By: Huang Chiao-wen and Frances Huang

Taipei, June 6 (CNA) The index for Taiwan’s services activity flashed a “yellow-blue” light in April for the second month in a row, signaling a sluggish climate, according to the Commerce Development Research Institute (CDRI, 商業發展研究院).

The CDRI, a Taiwan economic think tank, said in a report Friday that the service industry (ISI) index stood at 98 points in April, one point higher than in March, but still in the yellow-blue range of 93-99.

The entire service sector was adversely affected in April by falling revenues in the transportation business, the CDRI said.     [FULL  STORY]

Revised property tax to lift sales, minister says

Taipei Tiomes
Date: Jun 06, 2015
By: Crystal Hsu  /  Staff reporter

After the legislature yesterday passed amendments to the Income Tax Act (所得稅法) to combine separate taxes on house and land sales, Minister of Finance Chang Sheng-ford (張盛和) said the new property tax should make the taxation system more reasonable and boost property sales now that policy uncertainty over the issue has dissipated.

Taiwan is the only nation in the world with separate land and house levies on property transactions, and under the previous system the government could not collect a sufficient amount of tax revenue from property transactions, Chang said.

The integrated house and land sales tax is set to take effect in January next year, Chang said, adding that the amendment would bring Taiwan into line with the rest of the world on the issue.     [FULL  STORY]