By Kuo Chia-erh / Staff reporterAuto parts maker Tong Yang Industry Co (東陽實業) this year plans to ship electric cars parts to its brand clients, hoping to expand its original equipment manufacturing (OEM) business in China, a company official said yesterday. Those customized components are expected to drive the company’s sales growth in the foreseeable future, as autonomous cars and electric cars are trending in the global automobile industry, Tong Yang said. Tong Yang, which entered the Chinese market in the 1990s, has 15 OEM plants and one aftermarket parts plant in China operated in collaboration with major Chinese car brands, including Guangzhou Automobile Group (廣汽集團) and FAW Group (一汽集團). Tong Yang plans to invest about NT$3.1 billion (US$105.94 million) in capital expenditure this year, down from nearly NT$3.4 billion last year. However, its aggregate revenue for the first two months of the year rose 5 percent annually to NT$3.98 billion, company data showed.
Hang Yuen then doubled the lead in the 34th minute, when Haitian import Jean-Marc Alexandre made a penetrating pass into the box, where midfielder Hsu Yi then found Chen in front of the goal. However, the visitors suffered a calamitous collapse within a 20-minute span in the second half, with Benfica storming back with three goals to win the home match. They got flustered when the other team scored its first goal,” Hang Yuen head coach Hung Ching-huai said after the game. The nation’s entry in the AFC Cup went to Hang Yuen, who were third in the league. The AFC Cup is Asia’s second-tier club circuit, with the region’s top teams vying for the prestigious AFC Champions League title.
By Kuo Chia-erh / Staff reporterShoemaker Fulgent Sun Group (鈺齊國際) yesterday said its board has proposed a cash dividend of NT$4.1, the highest level in the company’s history, thanks to record-breaking net profit last year. The proposed dividend represents a yield of nearly 6.12 percent, compared with the firm’s closing stock price of NT$67 yesterday, Taiwan Stock Exchange data showed. Fulgent Sun said it aims to maintain a high cash dividend policy, with the proposed dividend translating into a payout ratio of 72.57 percent, based on last year’s earnings per share of NT$5.65. Revenue last year totaled NT$10.39 billion, up 14.4 percent year-on-year from NT$9.08 billion, with gross margin increasing from 18 percent to 19.8 percent, company data showed. Fulgent Sun, which supplies outdoor footwear to more than 40 brand clients worldwide, said revenue last month jumped 34.2 percent to NT$667.5 million, from NT$497.52 million a year earlier.
“Looking forward to 3:30 P.M. meeting today at the White House. The president did not say whether he would sign tariffs on steel and aluminum imports at the meeting. At the White House, officials were working to include language in the tariffs that would give Trump the flexibility to approve exemptions for certain nations. Meanwhile, Chinese Minister of Foreign Affairs Wang Yi (王毅) issued the stern message to the Trump administration. “Choosing a trade war is surely the wrong prescription, in the end you will only hurt others and yourself,” Wang said.
Relations between China and India have been tense after their troops faced off on a disputed part of their border. China was also angered by Indian Prime Minister Narendra Modi’s visit last month to the eastern border state of Arunachal Pradesh, also claimed by China. Authorities in India and Nepal have previously banned protests against China by Tibetans during sensitive times, such as visits by Chinese leaders. Tibetan Buddhist spiritual leader the Dalai Lama fled from the crackdown and was granted asylum in India. China considers the Dalai Lama to be a dangerous separatist and has piled pressure on foreign governments to shun him.
The Japanese Financial Services Agency, which has been checking the exchanges, yesterday said that FSHO and Bit Station exchanges were ordered to halt operations for one month. Five other exchanges, including Coincheck Inc, targeted in the massive hacking, were ordered to improve their operations. The exchanges ordered to improve their operations must file a plan to the agency by March 22. However, Japan has chosen to regulate exchanges, setting up a licensing system last year, although experts said that such measures are no guarantee against cybercrime. Japan has officially licensed 16 virtual-currency exchanges, and more, including Coincheck, are applying for licenses.
Democratic Progressive Party City Councilor Cheng Yu-en (鄭宇恩) made the suggestion on Tuesday at a news conference in front of the Tamsui MRT Station. The New Taipei City government recharges the senior courtesy cards with 120 points — or NT$480 (US$16.40) — every month, but they are restricted to use for bus rides, she said. According to records, New Taipei City has issued 390,000 courtesy cards, which cost it NT$2.19 billion per month, Cheng said. It is unfair to compare New Taipei City with Taipei, Lin said, adding that there are obvious differences in how the two municipalities approach subsidies for the elderly. For example, New Taipei City still issues between NT$1,500 and NT$10,000 in subsidies for the Double Ninth Festival, or senior citizens’ day, while Taipei has axed such subsidies, Lin said.
Net profit was 2.46 times that of the NT$1.23 billion made the previous year and jumped 70.62 percent from NT$1.77 billion in the third quarter last year. “The passive components industry is undergoing a major structural change,” Yageo chairman Peter Chen (陳泰銘) said at the company’s first-ever conference with investors. His optimism is also based on disciplined capacity expansion by Yageo and its industry peers, Chen said. Passive components for hybrid cars cost two times more than traditional gas-fuelled vehicles, the firm said. Yageo’s net profit for last year soared 88 percent to NT$6.66 billion, compared with NT$3.55 billion in 2016.
However, the average age of the MD-80s is 22 years, with the oldest aircraft in use for 26 years. Training pilots to operate new aircraft takes time, airline president Joseph Lee (李承仲) said, adding that one year would not be enough. “The nation is short on pilots.,” Lee said. We could train some MD-80 aircraft pilots to operate ATR-600s, but that takes longer than one year. For the four new ATR-600 aircraft, we would need a minimum of 16 pilots and 16 copilots.”“We still need pilots who can operate MD-80 aircraft.
Lee and co-defendent Chiu Chin-wei (邱晉芛) were convicted of damaging the property of others, and Chiu was sentenced to four months in prison. However, their prison terms can be converted to a fine, calculated at NT$1,000 per day. The statue of Hatta is in the Yoichi Hatta Memorial Park near the Wushantou Reservoir (烏山頭水庫). On the anniversary of Hatta’s death on May 8, 1940, the Chia-Nan Irrigation Association holds an annual memorial to honor his work in turning the Chianan Plain into Taiwan’s rice bowl. The attack on Hatta’s statue was not the first time that Lee has gotten into trouble for vandalizing monuments or historic relics.
Net interest and fee income are expected to see moderate growth this year, due to anticipated interest rate hikes in Taiwan and the US prompted by improving economic growth prospects across the globe, CTBC Financial head of financial management Chiu Ya-ling (邱雅玲) said on Wednesday. A windfall from interest rate hikes would not be reflected immediately, Chiu said, adding that actual gains would depend on the US Federal Reserve’s pace and timing of increases. With Taiwan’s GDP growth shaping to hit 3 percent this year, CTBC Financial said it does not rule out an interest rate hike by the central bank as domestic inflation creeps toward 2 percent. Taiwan Life Insurance Co (台灣人壽保險), which CTBC Financial acquired in 2015, reported that net income last year surged 106.8 percent to NT$10.21 billion. CTBC Financial reported that overall net income last year rose 33 percent annually to NT$37.22 billion, with earnings per share of NT$1.91.
By Lee I-chia / Staff reporterThe Taipei City Government on Tuesday announced a two-year collaboration with Amazon Web Services (AWS) and seven universities to increase the number of databases available for big data research by academics and to nurture the development of big data professionals. The city is the first government in Asia to join the AWA Public Data Set program, a centralized repository of public data sets that can be integrated into AWS cloud-based applications, allowing the public access to innovative analysis on AWS cloud-based applications or other tools, the Taipei Department of Information Technology said. “Big data analysis and application is a global trend, and it is the government’s responsibility to take the lead in driving the development of the data economy,” Taipei Deputy Mayor Charles Lin (林欽榮) said. While three of the schools are in the Taipei area — National Taiwan University, National Taipei University and the University of Taipei — National Tsing Hua University is in Hsinchu, Feng Chia University is in Taichung, National Cheng Kung University is in Tainan and National Dong Hwa University is in Hualien County. National Taipei University vice president Lin Jia-chuan (林嘉 ?)
By Lisa Wang / Staff reporterAdvantech Co (研華), the world’s largest industrial computer supplier, has raised prices for the first time ever to lift its profit margin amid rising component prices, the company said yesterday. An increase of 8 percent in key component prices last quarter eroded NT$270 million (US$9.23 million) in the firm’s gross profit and brought its gross margin down to 38.8 percent, Advantech said. For the whole of last year, gross margin shrank to 39.2 percent, below the company’s long-term target of 40 percent. “We did not pass on cost increases to our clients, as we had not previously set up a mechanism to raise prices,” Advantech chairman K.C. With the price hikes, Advantech said it hopes to maintain its gross margin at about 40 percent this year.
By Lee I-chia / Staff reporterAll employees of Taipei’s fruit and vegetable wholesale markets must report for work today, Taipei Deputy Mayor Chen Chin-jun (陳景峻) said yesterday, adding that an extended auction is to be held in response to plummeting produce prices after the markets were closed for several days. Office Director Sheu Shyuan-mou (許玄謀) said that market closure dates are discussed by stakeholders — including the council — between June and August each year. Therefore, it is strange for the council to shift the blame to the Taipei City Government, he said. Candidates for general manager are usually recommended by the council and appointed after gaining approval from the board of directors. Wu was recommended by the council and assumed the position in July last year.
By Jason Pan / Staff reporterAuthorities have arrested a retired colonel for allegedly passing on military information to China in return for money and sex. The Kaohsiung District Prosecutors’ Office said that they raided the Pingtung County residence of a retired colonel surnamed Lan (藍) last month and have sufficient evidence to charge him with breaches of the National Security Act (國家安全法) and offenses against state security. Lan secured an executive position at the Dongguan textile factory with a monthly salary of NT$90,000. Lan returned to Taiwan in 2016, and investigators, after receiving tip-offs about his espionage activities, put him under surveillance. Raids were conducted last month, but due to the sensitive nature of the case, authorities only released the information recently.