| Prime News | | ![]() | ![]() | Taipei Fubon Bank Wins Six-Year Franchise for Sports Lottery
Taipei, Sept. 4, 2007 (CENS)--Taipei Fubon Bank won the six-year franchise for issuing Taiwan's first sports lottery yesterday (Sept. 3), which is scheduled for inauguration by April 15, 2008, with annual business scale estimated at NT$26 billion.
Taipei Fubon Bank has targeted at major domestic and foreign sports events for the lottery, including professional baseball games, professional basketball games, and car racing in Taiwan, as well as Major League Baseball, NBA (National Basketball Association) games, Hong Kong horse racing, Olympics, and World Cup abroad. Local people can make bets, ranging NT$10-100 per bet, at projected 1,000 mortar-and-bricks outlets, or via the Internet, telephone, mobile phone, and MOD (multimedia on demand).
Taipei Fubon Bank outbid Chinatrust Bank and Bank of Kaohsiung, pledging to contribute NT$20.6 billion of profits to the government coffers on estimated sales of NT$160 billion during the six-year period, compared with NT$20.2 billion and NT$16 billion of the two rivals, respectively. Yang Jui-tung, vice president of Fubon Financial Holding, also attributed Taipei Fubon Bank's success in the bidding to more variety in bet games and a good partner, having the Hong Kong Jockey Club as its advisor.
Taipei Fubon Bank won seven votes from the 12 members of evaluation committee organized by the Ministry of Finance (MOF), compared with four for Bank of Kaoshiung and one for Chinatrust Commercial Bank.
Taipei Fobon Bank pledged to allocate 75% of the proceeds from lottery-ticket sales for prizes, with overheads accounting for 15% and earnings for 10%. Yang Jui-tung reported that the bank has planned to set ratio of lottery-ticket sales between bricks-and-mortar and virtual channels at 60:40 or 65:35. Bet games may top 4,000-6,000 annually.
Taipei Fubon Bank reportedly will adopt lottery terminals of U.S. firm G-Tech, which may benefit G-Tech's Taiwanese contract makers ICP Electronics and Flytech Technology.
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| | ![]() | | | Evergreen Will Set Up Shipbuilding Yard in Fujian
Taipei, Sept. 4, 2007 (CENS)--Evergreen Marine Corp. will join hands with the Chinese government in setting up a big shipbuilding yard with annual capacity of 350,000 metric tons in Quanzhou of Fujian Province, scheduled for inauguration in 2011, according to Y.F. Chang, chairman of Evergreen Group.
Chang revealed the plan during a recent interview with Lloyd's List, saying that the shipbuilding yard will not only build containerships for Evergreen but also take orders from other shipping lines.
Fan Liang-tung, executive secretary of the Investment Commission, under the Ministry of Economic Affairs, noted that although shipping yard is not on the ban list for investments by Taiwanese enterprises in China, investment projects in China exceeding US$20 million in scale must undergo case-by-case evaluation and those exceeding US$100 million in scale must undergo additional policy evaluation. Chang didn't reveal the scale of the project in the interview.
The projected shipbuilding yard, however, will not build mega containerships of over 8,000 TEUs (twenty-foot equivalent units), warning that shipping lines will suffer dearly from their current rush to build mega containerships once the market turns southward, which is inevitable as shipping is a line subject to business cycle.
Chang expressed that he personally favors 6,000-TEU containerships, although Evergreen has also built some 7,000-8,000-TEU containerships, upon the strong lobbying of its business department. The company, though, will never build 8,000-TEU and larger containerships, emphasized Chang.
Chang noted that during sluggish times, Evergreen's smaller ships will be able to survive even if the load factor reaches only 50%, when super-sized ships will have a hard time keeping afloat.
Industry insiders noted that after Evergreen placed order for 10 7,000-TGEU containerships with Japanese shipbuilders in 2003, many 8,000-TEU containerships have been launched in the world, with China even having launched 10,000-TEU containerships. They worried about the competitiveness of Evergreen, the world's fourth largest containership firm, at a time when over half of the world's 10 leading containership firms have launched, or ready to launch, 10,000-TEC containerships.
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| | ![]() | | | Shin Kong Group to Tap Physical-checkup Tourism Market
Taipei, Sept. 4, 2007 (CENS)--Shin Kong Group recently announced it would venture into the physical-checkup tourism market. Shin Kong Financial Holdings Co., the flagship of the group, chairman Eugene Wu said his company will make use of the resources of its medical service, financial, insurance, real estate and recreation affiliates to set up a program to develop a full-package physical-checkup program targeting global tourists.
The physical-checkup tourism development program will be based on the PET (positron emission tomography) cancer physical-examination services provided by the group's Shin Kong Wu Ho Su Memorial Hospital.
The group claimed it has entered the physical-checkup tourism market in Japan, Shanghai Municipality of mainland China, and Palau. At present, the group is vying for the clients from mainland China.
In July, the Executive Yuan, the Cabinet, kicked off a medical service internationalization plan with an attempt to vie for the US$300 billion niche in the international medical service market.
Aside from Thailand and South Korea focusing on the plastic-surgery tourism field, Shin Kong Group has resolved to engage in the physical-checkup tourism service arena.
Faced with the tough competition in domestic hospitals, Wu claimed Shin Kong Wu Ho Su Memorial Hospital has launched a more flexible strategy than peers.
Following receiving Palau legislative speaker to do physical checkup in Taiwan, Shin Kong Group has more recently receiving 20-strong tourists from that nation to do physical checkup. In addition, Shin Kong Group has also received a group from Shanghai to do group physical examination in Taiwan.
Shin Kong Wu Ho Su Memorial Hospital noted it entered into strategic alliance with a Shanghai hospital. Thanks to the formation of the strategic alliance, beginning from October Shin Kong group will solicit mainland's medical specialists to visit Taiwan at a fee of NT$80,000 (US$2,424 at US$1:NT$33) each for a seven-day, six-night tour.
Shin Kong Health Management Co., another subsidiary of the Shin Kong Group, is negotiating with the Japan-based XIV chain of 17 premier hotels for encouraging its 100,000 members to sign up for physical checkup tours in Taiwan.
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| | ![]() | | | TRC Affirms "twA-" Long-term credit ratings for Sunny Bank
Taipei, Sept. 4, 2007 (CENS)--Taiwan Ratings Corp. (TRC) recently revised its outlook on Sunny Bank to negative from stable, and at the same time affirmed its "twA-" long term and "twA-2" short-term counterparty credit ratings on the bank.
The ratings reflect the bank's adequate asset quality and capitalization. Counterbalancing factors include the bank's mediocre profitability and small market share. The outlook revision reflects the rising challenges Sunny Bank faces to restore its core earnings because of intense industry competition, and the bank's vulnerability to external shocks.
Sunny Bank is a small commercial bank in Taiwan, with a share of about 1% of domestic banking system assets. The bank's business operations are primarily focused on Taipei. Sunny Bank is seeking a foreign strategic investor to assist in the enhancement of its franchise.
Sunny Bank's geographic focus, conservative risk appetite, and adequate risk management support its adequate asset quality. The bank's ratio of nonperforming assets (including nonperforming loans, foreclosures, and restructured loans) to total loans declined to 3.5% at the end of June 2007, from 4.3% at the end of 2005. The bank's loan loss provisioning is adequate, covering 43% of its impaired assets at the end of June 2007. Sunny Bank's capitalization is adequate. Its ratio of adjusted common equity to adjusted assets was about 5% at the end of June 2007.
TRC said Sunny Ban's profitability is hampered by low interest margins and high operating expenses. The bank focuses on traditional lending products, mainly mortgage loans, where margins are low and competition is intensifying. Sunny Ban's ratio of pre-provision operating income to average assets declined to about an annualized 0.4% in the first quarter of this year, from about 0.6% in 2006 and 0.9% in 2005. The bank's return on assets averaged only 0.3% in 2002-2006 and 0.24% (annualized) in the first quarter of 2007.
Sunny Bank recently experienced a brief rise in retail deposit withdrawals, which was caused by the announcement of an investigation into the bank's related-party lending. The bank maintained adequate liquidity through a combination of increased funding and system support.
The negative outlook reflects TRC's expectation that Sunny Bank faces growing challenges to restore its core earnings and deposit profile. The bank remains vulnerable to mild external shocks. The ratings could be lowered if an unexpected retail deposit outflow negatively impacts the bank's funding and liquidity profile. The ratings could also be lowered if Sunny Bank fails to effectively restore its profitability by developing new sources of revenue or adjusting its product mix toward higher-margin products. The outlook could be revised to stable if the bank's profitability or funding profile improves.
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| | ![]() | | | Nanya PCB to Keep Production Lines Busy Until Yearend
Taipei, Sept. 4, 2007 (CENS)--Nanya PCB Corp., the printed circuit board (PCB) maker under the Formosa Plastics Group (FPG), will see its production lines booked until the end of this year mostly due to rising demands for consumer electronics, according to the company's top executive.
The company's chairman, Chinn Wu, pointed out that the firm's output capacity rate failed to meet its projected goal because of inventory-backlog adjustments by customers, and consumers' wait-and-see attitude.
The lukewarm situation, Wu said, will heat up into this half because the back-to-school shopping will drive up demands for consumer electronics. The company's production lines are running close to full capacity, Wu reported.
Throughout the first half of this year, the company made after-tax net income of NT$3.4 billion (US$103 million at US$1:NT$33), or NT$5.66 per share, losing 34.5% from the same period of last year. The earnings result makes the company the island's most profitable PCB manufacturer, leading Tripod Technology Corp.'s NT$4.07, Kinsus Interconnect Technology Corp.'s NT$4.02 and Unimicron Technology Corp.'s NT$2.21.
Hit by low yield rate of the company's flip-chip substrate production, the company's average gross margin rate for the first half this year was 20.99%, lower than 35.68% it reported the same period last year. Operating income rate and pre-tax net income rate for last half were 17.52% and 22.81%, respectively, lower than 31.48% and 33.12% in the same period of last year.
Last quarter alone, its gross margin was 20.2%, lower than 21.65% it reported a quarter earlier. In the meantime, its operating income rate and pre-tax net income rate were 16.48% and 20.27%, respectively, lower than first quarter's 18.42% and 24.99%.
The company's operating income and pre-fax earnings for last quarter were NT$1.29 billion (US$39 million) and NT$1.59 billion (US$48 million), respectively, receding 23% and 30% from a quarter earlier.
Institutional investors estimated the company's revenue for this August would likely top NT$3.4 billion (US$103 million) as a result of continuous expansions of its flip-chip substrate output capacity, up from this July's NT$3.1 billion (US$94 million).
The company is currently the world's No.1 supplier of the substrate, which is a category of its IC substrates. IC substrates now account for 70% of the company's revenue, leaving the remaining portion filled by PCB manufacturing.
Nanya's PCB output is expected to gain big boost from the bold expansion recently launched by its parent company, Nan Ya Plastics Inc. at its manufacturing base in Kunshan of mainland China.
Once the US$360 million expansion is completed, the manufacturing base will own the world's largest PCB output capacity integrating all needed manufacturing factories including epoxy-resin, glass-fabrics, and copper clad laminate facilities.
According to Kunshan government, the company will invest a total of US$2.2 billion into expansions at the manufacturing base. It has spent US$1.2 billion on the expansions besides the US$360 million plan.
Nan Ya opened the manufacturing base in 2000 to put out glass fibers, glass fabrics, copper clad laminates, epoxy resins, copper foils, and PCBs in order to pare down costs of the productions in Taiwan.
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| | ![]() | | | Taiwanese LED Makers See Lighting Application Efforts Pay Off
Taipei, Sept. 4, 2007 (CENS)--Arima Optoelectronics Corp., Epistar Corp. and Formosa Epitaxy Inc., top three Taiwanese light-emitting diode (LED) epitaxial-wafer makers, have recently landed hefty orders for their products for lighting applications.
Arima signed a contract to supply its products to a U.S. big-name supplier of transportation lighting systems, Epistar won lighting-application contracts, which are estimated to help push up its shipments of the product to over 10 million diodes a month next quarter. Formosa is planning to issue convertible corporate bonds to raise NT$1.2 billion (US$36 million at US$1:NT$33) to boost capacity for lighting-diode orders it recently received.
The lucrative market for LED lighting has inspired the island's heavyweight enterprises like Hon Hai Precision Industry Co., Ltd. and Delta Electronics Inc. to jump into the segment and epitaxial-wafer suppliers to set foot into lighting applications. Industry watchers analyze that a high-power LED for lighting purpose is at least 10 times the price of the diode for backlighting purpose.
Arima recently announced that its lighting-system business had struck a deal to co-develop with a renowned U.S. supplier of lighting control systems LED lighting systems available in transportation vehicles and they will soon test the systems.
Armia's executives pointed out that the lighting systems are based on intelligent technology and specifically designed for vehicles. They boasted the systems are designed to have average life span of 60,000 hours and be glaring free, making them power-conservative and user-friendly lighting products. Most of all, the deal is expected to considerably boost the company's revenue next year.
The U.S. plans to introduce LED lighting systems in 2008 and the chance for Arima to break into the U.S. LED lighting market is quite high, according to Taiwanese industry watchers.
Epistar is reported to have tested high-power LED chips for streetlights and landed orders for the chips. The company's shipment of the chips has so far increased to five to 10 million units a month from three million units in the first quarter. The company projected the shipment to cross 10 million a month into the fourth quarter.
Sales of lighting chips drove up Formosa's gross margin to 21% in the second quarter from loss in the first quarter this year. Also, its after-tax net income and pre-tax earnings for the second quarter were NT$33.6 million (US$1 million) and NT$30.45 million (US$922,700), respectively, compared with first quarter's losses. The company analyzed revenue for last month would hit another new high for five consecutive months all because of sales of high-power lighting chips.
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| | ![]() | | | TAITRA to Promote Taiwan-made Auto-parts at Taitronics India
Taipei, Sept. 4, 2007 (CENS)--To promote Taiwan's auto-parts in India, Taiwan External Trade Development Council (TAITRA) has planned a special exhibition zone in the coming Taitronics India, scheduled to be held at Chennai Trade Center, Chennai, India from September 14-16.
The Taitronics India is a mixed industry show to promote Taiwan's products in India, one of the emerging economies. The first version of the annual show will have five major themes (or exhibition areas) including 3C (computer, communication, and consumer electronics) products; electric appliance and machinery; electronics components; auto parts and accessories; and hand tools.
TAITRA said that the Indian government has selected the car industry as one of the focal-point lines slated for special development and aims to create an annual production value of over US$100 billion in 10 years. So, the council organized the Taiwan-product exhibition in India to promote local companies in the rising country.
Statistics compiled by Fourin of Japan, a specialized auto-industry research institute, showed that new-car sales in the so-called BRIC (Brazil, Russia, India, and China) enjoyed a much-higher growth rate than that in the global market, implying the rapidly uprising buying powers in the emerging markets. The automobile production volume of India, for example, rapidly rose to No. 11 globally in 2006 from No. 15 about five years ago.
TAITRA said that the auto-parts sector is currently the fourth-largest investment target of Taiwanese investors in India, implying a strong ambition of many Taiwan auto-parts makers in paving their ways to the potential market.
The trade council has solicited several major auto-parts manufacturers to display their quality products in the coming Taitronics India, including major wheel-rim maker Yuan Feng Industrial Co., Ltd., seating supplier Hsin Chong Machinery Works Co., Ltd., mirror maker Ken Sean Factory Co., Ltd. etc.
TAITRA said that the automotive industry in India is a bourgeoning sector as the major land transportation tools there are still motorcycles and tricycles. Under the aggressive effort from the government, however, the annual production value of India's automotive line is expected to reach US$122 billion to US$159 billion in 2016, compared with only US$34 billion in 2006, making the nation the world's seventh-largest car and fourth-largest truck production nation at that time.
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| | ![]() | | | S-LCD Corp. Begins Mass Production at World's First 8G TFT-LCD Plant
Taipei, Sept. 4, 2007 (CENS)--The global competitiveness of thin film transistor-liquid crystal display (TFT-LCD) panel suppliers in Taiwan is expected to be weakened especially in LCD TV and monitor panel sectors after S-LCD Corp. recently announced mass production and shipment at its new eight-generation (8G) panel plant in Tanjeong of South Korea.
S-LCD is a joint venture established in April 2004 between Samsung Electronics Co. Ltd. of South Korea and Sony Corp of Japan dedicated to the manufacturing of amorphous TFT-LCD panels for LCD TVs.
As Taiwan companies currently focus on only 7G or 7.5G technologies, industry sources said, there is already gap of one generation built up by Korean and Japanese counterparts.
S-LCD claimed that its maximum monthly capacity of 50,000 substrates at the 8G panel plant would be achieved by the end of the year; while LG. Philips LCD Co., Ltd. (LPL) of South Korea has also decided to set up 8G plant.
AU Optronics Corp. (AUO) and Chi Mei Optoelectronics Corp. (CMO), the top-two TFT-LCD panel suppliers in Taiwan, however, have not mapped out confirmed date for 8G plant construction.
AUO said previously that its capital spending in 2008 would decrease to NT$70 billion (US$2.12 billion at US$1: NT$33) and up to now the company has not finalized an 8G or -beyond investment project. Even AUO decides to set up an 8G facility next year, the mass production date will be as early as possible in 2010.
CMO also stressed that it has no timetable for 8G plant construction project, and will decide on new investment project to compete against foreign rivals.
David Hsieh, president of DisplaySearch Taiwan Office and vice president, DisplaySearch Greater China, pointed out that S-LCD would focus on production of 46- and 52-inch TV panels so the 8G newcomer is not expected to affect the current global under-42-inch (including) TV-panel market. In addition, he added, the global TV panel demand is still outstripping supply now, so in the short term S-LCD would not cause big impact on Taiwanese suppliers.
According to Hsieh, the kick-off mass production of S-LCD's 8G plant marked the LCD TV market's entry into the 50-inch mainstream sizes, compared with 40-inch in the past. As the 8G plant can economically produces 46- and 50-inch panels, he explained, TV models of the two sizes are expected to enjoy rapid sales growth. In addition, he added, LCD TVs and plasma display panel (PDP) models are expected to compete fiercely in the over-50-inch TV market, which mainly was cornered by PDP models.
Some institutional investor said that the shipment peak of TFT-LCD panel suppliers would some end in next few months with the decreasing demand volume, and they said that the mass production date of S-LCD's 8G plant (soon entering the off season) might increase pressures on the panel maker's operation.
In addition to 46- and 52-inch panels, Hsieh said, 8G substrates can also be economically cut into 32-inch panels.
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| | ![]() | | | Taiwan's Textile Exports Drop 2% to US$5.76 B. in First Half
Taipei, Sept. 4, 2007 (CENS)--Taiwan's textile exports reached US$5.766 billion in the first half of this year, down 2% from the corresponding figure of last year; and imports declined by 1% to US$1.286 billion, with surplus of US$4.48 billion for an annual fall of 2%, according to the statistics released by Taiwan Textile Federation (TTF).
Influenced by the cancellation, in 2006, of the Multi-Fiber Agreement on global textile quotas, Taiwanese garment makers witnessed a sharp fall of 15%-17% in average price of their garments during the year and in 2006 the corresponding percentage shrank to 6%. However, the average price of garment chalked up by 2% in the first half of this year.
Seeing the growing demand for branded garments, many Taiwanese garments are trying to share a piece of the pie in such market. Today they have generated products not only on OEM basis, but also on ODM. As a result, the higher prices of ODM products helped boost up the average price of all garments.
Among the exported textile items, cloth and fabrics experienced a drop of 2% in export value in the first half, yarns and related products rose by 2%, and garments & related accessories tumbled by 9%. The United States remained Taiwan's largest export outlet of garment and related accessories, while Indonesia, Hong Kong, and Vietnam together absorbed 70% of Taiwan's exported textiles.
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| | ![]() | | | CFH Taiwan's Most Profitable FHC in First Half of 2007
Taipei, Sept. 4, 2007 (CENS)--Cathay Financial Holding Co. was Taiwan's most profitable financial holding company (FHC) in the first half of this year with after-tax profits of NT$20.7 billion (US$627.27 million at US$1 = NT$33) for a whopping annual growth of 130%. In the same period, the company posted earnings per share (EPS) of NT$2.25 (US$0.068).
Shin Kong Financial Holding Co. and Fubon Financial Holding Co. took the second and third place with after profits of NT$9.236 billion (US$279.88 million) and NT$8.66 billion (US$262.42 million), respectively.
Last year Taiwan's FHCs were still influenced by the aftermath of the consumer loan storm generated by card loan defaults and most of them kept setting aside considerable funds to write off bad debts during the year to improve the quality of their assets. In the first half of this year some of them slowly regained strength and some were still in recuperation. The FHCs with life insurance companies seemed to have recovered faster. It's interesting to find that all of the top three FHCs in the first half boast of strong life insurance affiliates.
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| | ![]() | | | Tatung Raked in NT$1.82 B. Net Profits for 1st Half of This Year
Taipei, Sept. 4, 2007 (CENS)--Tatung Co., one of top five suppliers of household electronics in Taiwan, raked in net profits of NT$1.82 billion, or NT$0.42 per share, for the first half of this year, turning around from a net loss of NT$2.27 billion posted a year earlier, according to company sources.
Besides, Tatung also posted the strongest profit growth during the period and ranked No. 4 in terms of its earnings per share (EPS) among the top five suppliers in the line.
Lin Wei-shan, chairman of Tatung, said that the company's turnaround in profits is due mainly to its reinvested companies, including Green Energy Technology Inc. and Shan-Chih Asset Development Co., Ltd., which have given an impetus to Tatung enjoying high growths in profits.
Among the top five household electronics suppliers in Taiwan, TECO Electric & Machinery Co., Ltd. ranked No. 1 with net earnings of NT$0.81 per share for the first half of the year, followed by Sanyo Electric Co., Ltd. with NT$0.7, and Kolin Inc. with NT$0.45, while Sampo Corp. still suffered a loss of NT$0.43 per share during the same period.
However, Tatung posted the highest sales revenue of NT$19.55 billion for the first half of the year, leading the top-five conglomerate, with net earnings of NT$0.42 per share, ranking as No. 4.
In fact, in addition to its reinvested companies, Tatung Consumer Products Co., Ltd., Tatung's affiliate specializing in selling household, consumer electronics and PCs, also contributed to revenue of NT$4.3 billion and net profits of NT$450 million for the first half of the year, both growing more than 20%.
Incidentally, going from red to black in sales this year, Sampo has decided to dispose of its land holdings of more than 9,900 square meters by the end of this year, which is expected to realize for the company net profits of about NT$1.5-2 billion, or NT$1.7-2.2 per share.
TECO posted combined net profits of NT$1.534 billion for the first half of the year, up 43% from a year earlier, with its profitable business divisions making heavy electronics and motor.
Thanks to solid sales of its liquid crystal display (LCD) TVs and other household electronics, Kolin scored net profits of NT$393 million, sharply growing by 74.68% from a year earlier.
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| | ![]() | | | Nan Ya PCB Led Sector With EPS of NT$5.66 for 1st Half
Taipei, Sept. 4, 2007 (CENS)--Nan Ya PCB Corporation, a Taiwan-based supplier of printed circuit boards (PCBs), scored net earnings of NT$5.66 per share for the first half of this year, the highest among domestic makers in the line, according to industry sources.
Meanwhile, Tripod Technology Corporation ranked No. 2 in the sector with net earnings of NT$4.07 per share, and Chin Poon Industrial Co., Ltd. No. 3 with NT$3.52.
According to the sources, listed PCB makers in Taiwan with net profits of more than NT$2 per share for the first half of this year also included Lin Horn Technology Co., Ltd. with NT$2.37, Global Brands Manufacture Ltd. (GBM) with NT$2.35, Unimicron Technology Corp. with NT$2.21, Unitech Printed Circuit Board Corp. with NT$2.03 and Plotech Technology Co., Ltd. with NT$2.01.
Institutional investors noted that with booming market demand seen in the second half of the year, Nan Ya PCB and Tripod are most likely to challenge net earnings of NT$10 and NT$8.5 per share, respectively, for entire this year, with the other aforementioned PCB makers to score net profits of NT$5 per share.
Nan Ya PCB reported sales revenue of NT$16.882 billion for the first half of this year, with operating incomes of NT$3.563 billion, a gross profit rate of 20.99%, net operating income of NT$2.975 billion and net compound earnings of NT$3.405 billion, or NT$5.66 per share.
Meanwhile, Tripod raked in net profits of NT$1.748 billion, or NT$4.07 per share, for the first half of the year, up 23.66% from a year earlier, and is expected to challenge the corresponding figure of more than NT$8.5 per share for entire this year.
Thanks to disposal of controlling stakes in its manufacturing plants sited in China to Finland-based Aspocomp Group, which brought in profits of up to NT$957 million, Chin Poon, with a solid growth in its sales for the second quarter of the year, posted shining net earnings of NT$3.52 per share for the first half of the year.
Coincidentally, GBM raked in combined revenues of NT$17.426 billion for the first half, with operating incomes of NT$1.574 billion, a gross profit of 9%, net operating incomes of NT$962 million, pretax earnings of NT$966 million and net earnings of NT$709 million, or NT$2.35 per share.
With increasing orders from Nokia, Unimicron posted combined revenues of NT$21.164 billion for the same period, up 24% from a year earlier, with net earnings of NT$2.248 billion, or NT$2.21 per share.
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