| Prime News | | ![]() | ![]() | Chinese Realty Moguls Inspect Taiwanese Realty Market
Taipei, Nov. 13, 2007 (CENS)--Attracted by the potential of Taiwan's realty market following opening of Chinese tourists to Taiwan, a delegation of 30 Chinese realty-industry leaders, including three foremost Chinese realty moguls, arrived in Taipei yesterday (Nov. 12) for a market investigation trip.
During their seven-day stay, the delegation members will inspect local markets of storefront outlets, small and medium hotel buildings, and office buildings, in addition to attending the "2008 Cross-Taiwan Strait Realty Summit," to be held at Grand Hotel Taipei on Nov. 19.
The three most prominent members of the delegation are Wang Shih, chairman of Vanke Group, China's largest listed realty developer boasting market value of 221.3 billion yuan, Feng Lun, chairman of Wantong Group, a pioneering private developer in China, and Zhao Hua, president of Fu Wah International and son of Chan Laiwa, the fifth richest person in China. Most other members are executives of firms ranking among the top 50 list of Chinese realty-development firms. The visit is at the invitation of Lai Cheng-yi, chairman of Shining Group, a leading developer in Taiwan
The delegation will also visit the island's major tourist sites, including Sun Moon Lake, Ali Mountain, and Tarago Gorge, via various transportation means, such as high-speed rail, freeway, domestic flight, and Northlink Railway, so that members can have in-depth experience of Taiwan's tourist market.
The Taiwanese government made legal revision allowing Chinese mainlanders to invest in Taiwan's realty market but have to apply for approval of deals, which industry insiders say is too time-consuming.
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| | ![]() | | | Taoyuan Station Area of Hi-Speed Rail Will Become Int'l Business City
Taipei, Nov. 13, 2007 (CENS)--The area neighboring the Taoyuan station of the high-speed rail will be developed into an international business city accommodating business headquarters and small-scale exhibition halls, said Ho Mei-yueh, chairperson of the Council for Economic Planning and Development (CEPD), yesterday (Nov. 12).
During a report at the Presidential Office, Ho noted that construction of related facilities will start in two to three years via private investment or BOT (build-operate-transfer) on a 21-hectare plot in the area, which the government has obtained via zone expropriation.
With Taoyuan already the site of headquarters of several business groups, such as Evergreen Group, the neighborhood of the Taoyaun station boasts remarkably convenient transportation links, including high-speed rail capable of reaching Nangang economic and trade park, Hsinchu Science-based Industrial Park, and Central Taiwan Science Park, and Taoyuan International Airport, plus the projected airport mass rapid transit system linking with Taipei.
Ho noted that of the five major station-area development projects for the hi-speed rail, the Hsinchu station area, to be developed into a bio-tech and medical industrial zone, boasts the fastest development progress, with its related facilities scheduled for completion by year end. Many bio-tech and pharmaceutical firms are waiting to set up operation in the area. Research-oriented firms will have higher priority entering the zone.
Meanwhile, the CEPD has planned to develop the Taichung station area into a entertainment and shopping city, in addition to accommodating industrial R&D centers and the central government's central-Taiwan administrative center, while the Chiayi station area will be developed into a recreational and leisure city, in addition to accommodating the southern-Taiwan branch of the National Palace Museum and the Chang Gung Hospital. CEPD officials admitted that the CEPD is still working on more concrete details for development projects for the two station areas.
Ho also revealed that the government plans to develop seven dedicated R&D bases along the hi-speed rail, in line with features of resources and academic institutions in various municipalities, thereby transforming western Taiwan into aN "innovation and R&D sci-tech corridor."
The seven R&D bases are Nangang national bio-tech development park, Hsinchu bio-medicine park, military technology park in Tunglou of Miaoli county, Taichung precision machinery innovation park, Chiayi precision machinery park, Tainan ecological village, and Kaohsiung software park.
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| | ![]() | | | NB Shipments ex-Taiwan Estimated to Exceed 100 Million in 2008
Taipei, Nov. 13, 2007 (CENS)--Shipments by Taiwan's contract manufacturers of notebook computers (NBs) will amount to 110 million units this year, up 25.2%, according to a survey report prepared by the Market Intelligence Center (MIC) under the government-funded Institute for Information Industry (III).
Impacted by the shortfall of electronic components and the replacement of desktop computers (DTs) globally, there is a supply gap of between 1.2 million and 1.5 million units for NBs per month, leading to a mere 1.6% growth for the shipment of the products in the fourth quarter of this year from the preceding quarter's level. But shipment of NBs in the third quarter still enjoyed a 27.1% year-on-year growth.
The MIC said domestic NB contract manufacturers and brand owners posted brilliant performance in the third quarter of this year. Major contract manufacturers in this line are Compal Electronics Inc., Quanta Computer Inc., Wistron Corp., and Inventec Corp. Major brand owners are Asustek Computer Inc. and Acer Inc.
The MIC holds a conservative attitude to see sizable increases in shipment of DTs in the fourth quarter of this year as they are gradually replaced by NBs. The MIC's survey showed shipments of DTs by Taiwan's firms amounted to 12 million units in the third quarter of this year, up 17% year-on-year. Production value for DTs shipped by domestic firms reached US$3.419 billion in the third quarter, up 35.4% year-on-year.
With the projected 110 million units of NBs shipped by domestic firms this year, the MIC predicted shipments of DTs from Taiwan will grow 6.9% year-on-year to reach 48.24 million units next year.
Affected by the slump in average selling prices in NBs, the MIC predicted the production value for NBs in the greater China region will grow 34.7% year-on-year to reach US$13.15 billion in the third quarter of this year.
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| | ![]() | | | TRC Affirms Corporate Credit Ratings on CAL
Taipei, Nov. 13, 2007 (CENS)--Taiwan Ratings Corp. (TRC) recently affirmed its "twBBB/twA-3" corporate credit ratings on China Airlines Ltd. (CAL). The outlook on the long-term credit rating is stable.
The ratings continue to reflect the air carrier's leading position in Taiwan's air passenger and cargo markets, its ongoing cost-cutting efforts, and a youngish fleet to improve its efficiency. Counterbalancing factors include the company's somewhat weak credit protection measures, and highly competitive and cyclical nature of the airline industry.
TRC believes the accident at Naha Airport in Japan has had limited impact on CAL's credit quality, as passenger confidence remains largely intact, with a passenger load factor of 74.8% in September 2007, versus 73.6% for the same period of last year. Nevertheless, the carrier still needs to strive to improve its flight safety as a long-term and on-going target.
TRC said CAL maintains its leading position in the domestic air passenger and cargo markets. Despite facing strong competition on international routes, CAL's market share of international air passenger traffic held at 33% in the first half of 2007, compared with EVA Airways Corp.'s (EVA) 22%. Likewise, CAL retains its strong position in Taiwan's air cargo market, holding a 31% share over the same period. Despite CAL's stronger performance in its passenger segment, with a revenue growth of 12% year-on-year for the first six months of 2007, rising fuel prices remain a key challenge for all international carriers, including CAL. The carrier's future growth relies on the government's policy on direct links with mainland China.
CAL's leverage has risen in recent years due to the carrier's sizable capital spending program. However, it has completed its fleet restructuring program in October 2007, which has reduced the average ago of its fleet to about 5.6 years in 2007 and substantially lower the requirement for capital expenditure. Nonetheless, CAL's credit protection measures remain somewhat weak, with a ratio of operating lease adjusted (OLA) funds from operations (FFO) to total debt of 10% in the first half of 2007, and a ratio of OLA debt to capitalization of 73.7% as end of June 2007.
CAL had NT$8.3 billion (US$256.17 million at US$1:NT$32.4) in cash and NT$4.3 billion (US$132.71 million) in short-term financial assets as of June 30, 2007, while the carrier's long-term loans and corporate bonds due within one year totaled about NT$20 billion (US$617.28 million). TRC expects the carrier will refinance its debt mostly through its unused short-term credit lines of NT$10 billion (US$308.64 million) and its internal generated cash flow.
The stable outlook reflects the likelihood that CAL will maintain its credit protection measures at levels commensurate with the current ratings, despite rising fuel prices. The rating could be raised over the medium term if CAL is able to lower its leverage substantially. Conversely, the rating or outlook could come under pressure if rising fuel costs or increasing competition in the air cargo market weakens the CAL's profitability, or the company pursues another aggressive capital expenditure plan that further increases its leverage.
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| | ![]() | | | Top 3 Taiwanese Telecom Carriers Report Lucrative Earnings for First 10 Months
Taipei, Nov. 13, 2007 (CENS)--In the 10 months this year, Chunghwa Telecom Co., Ltd., Taiwan Mobile Corp. and Far EasTone Telecom Co.,Ltd. all scored lucrative earnings.
Chunghwa, currently Taiwan's No.1 telecom carrier, recorded after-tax profits of NT$41.9 billion (US$1.2 billion at US$1:NT$33), followed by Taiwan Mobile's NT$12.9 billion (US$392 million) and Far EasTone's NT$9.8 billion (US$299 million).
By earnings per share, Chunghwa made NT$3.94, NT$3.18 and Far EasTone NT$2.55.
Chunghwa's result shows the company attained 85.6% of its annual goal. In the first 10 months year, the company had consolidated revenue of NT$155.25 billion (US$4.7 billion), increasing 1.65% year on year and attaining 85.2% of its annual goal.
Chunghwa's executives pointed out that its mobile phone revenue and data-communications revenue rose 1.3% and 5.6%, respectively, throughout the first 10 months this year. Subscribers to the company's broadband-connection service grew to 4.22 million in terms of number until October. Of the number, subscribers to its Internet-connection speedier than eight megabits per second were numbered at 1.12 million and its 3G-service subscribers totaled 2.1 million in number.
Taiwan Mobile had consolidated revenue of NT$54.6 billion (US$1.6 billion) during the Jan.-Oct. period this year. Last month alone, the company had consolidated revenue of NT$5.86 billion (US$177 million) and after-tax earnings of NT$1.2 billion (US$36.9 million)
Taiwan Mobile's executives pointed out that the company's revenue for last month gained around 3% from a month earlier partly because return from non-core business investments.
In the Jan.-Oct. period, Far EasTone had consolidated revenue of NT$53.1 billion (US$1.6 billion), posted an EBITDA (Earning Before Interest, Tax, Depreciation and Amortization) margin of 47.7%, and pretax earnings of NT$12.4 billion (US$375 million). In October, the company had revenue of NT$5.4 billion (US$164 million), EBITDA margin of 46.2% and pretax earnings of NT$1.1 billion (US$36 million).
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| | ![]() | | | Arima Makes Major Business Transformation
Taipei, Nov. 13, 2007 (CENS)--Contract computer manufacturer Arima Electronics Inc. recently decided to transform itself into a holding company and enter into telecom and solar-energy segments by offloading its computer business to Flextronics, a world leading electronics-manufacturing service provider.
Arima signed a letter of intent in late September this year to sell its computer assets to Flextroincs of Singapore. The company held an irregular shareholder conference yesterday to discuss the deal. The meeting passed the proposal of selling its server business and notebook-computer business.
Armia Chairman S.T. Lee said he was very reluctant to sell the company's notebook-computer business it had run for a while, but he had no choice since the growingly volatile market of the business. The company sold its sever and notebook-computer assets including factories, machines, technologies, customer base, and products for around NT$6.3 billion (US$191 million at US$1:NT$33).
Armia's executives pointed out that the two sides had hoped the deal to be closed early next year at earliest. However, the uncertainty is the antitrust reviews by EU and the U.S., which may take two to five months.
While deciding to end computer business, the meeting also passed the proposal to steer the company towards embracing the stellar solar-energy and telecom industries.
Lee pointed out that in telecom industry the company will move in the direction of developing smart and multimedia products. In green-energy sector, the company will accelerate its presence in sector of efficient solar chips and systems.
So far, Arima has in as many as nine companies including Arima Communication Corp., Arima Optoelectronics Corp., and Arima Display Corp. spreading into handset, LED, solar-energy and laser industries.
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| | ![]() | | | Citibank Taiwan the Most Profitable Foreign Bank in First 9 Months
Taipei, Nov. 13, 2007 (CENS)--Citibank was the most profitable foreign bank in Taiwan with profits of NT$10.3 billion (US$312.12 million at US$1 =NT$33) in the first nine months of this year, according to the statistics released by the Cabinet-level Financial Supervisory Commission (FSC).
If compared to domestic banks, Citibank took the sixth position on the list of Taiwan's high-profit banks. Its profits neared that of Bank of Taiwan (BOT), which raked in NT$10.6 billion (US$321.21 million) in the same period. Domestic banks recording higher profits than BOT were, in descending order, Chinatrust Commercial Bank, China Development Industrial Bank, First Commercial Bank, and Mega International Commercial Bank.
In the Jan.- Sept. period, a total of 32 foreign banks here scored profits of NT$19 billion (US$575.76 million) and, of which, Citibank took a lion's share of more than 50%, far ahead of its followers.
Among foreign banks, Hongkong and Shanghai Banking Corp. took the second place with profits of NT$2 billion (US$60.61 million), Deutsche Bank came third with NT$1.3 billion (US$39.4 million), and JP Morgan Chase Bank closely followed with NT$1.2 billion (US$36.36 million). However, ABN AMRO Bank and American Express Bank each suffered a loss of over NT$500 million (US$15.15 million).
Last year Citibank, impacted by Taiwan's twin-card debt storm, saw its pretax profits sharply drop to NT$4.85 billion (US$146.97 million), less than half of NT$10.315 billion (US$312.58 million) recorded a year earlier. Nevertheless, the bank's profits in the first nine months of this year already exceeded last year's total.
This year Citibank has been actively promoting its consumer banking business and achieved an outstanding credit on its credit cards of NT$43.8 billion (US$1.33 billion) in the first nine months, up 14.8% from the corresponding figure of last year, although a slight drop of NT$1.7 billion (US$51.52 million) from a month earlier.
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| | ![]() | | | Taiwan's Tax Revenues Up Nearly 12% to NT$128.1 B. in October
Taipei, Nov. 13, 2007 (CENS)--The government collected total tax revenues of NT$128.1 billion (US$3.88 billion at US$1 = NT$33) in October, up NT$13.6 billion (US$41.21 million) or 11.9% from a year earlier, according to the statistics released by Ministry of Finance (MOF).
In the first 10 months of the year, the tax revenues accumulated to NT$1.4811 trillion (US$44.88 billion), increasing by NT$116.7 billion (US$3.54 billion) or 8.6% from the corresponding figure of last year and reaching 91.9% of the full-year goal.
Lee Li-hsueh, director at the Department of Statistics of MOF, indicated that in the Jan.-Oct. period, the central government showed better performance in tax collection, garnering substantial tax revenues of NT$1.0677 trillion (US$32.36 billion), a sharp rise of NT$102.3 billion (US$3.1 billion) from last year's corresponding figure and attaining 96% of the goal.
In the same period, local governments together raked in tax revenues of NT$374.2 billion (US$11.34 billion) for an annual rise of NT$11.8 billion (US$357.58 million), reaching only 82.3% of the full-year goal.
Among the taxed items, commodity tax revenues posted an annual drop of NT$6.1 billion (US$184.85 million) or 4.6% in the first 10 months, due mainly to the sharp fall of NT$4.6 billion (US$139.4 million) in vehicle tax revenues. Inheritance and donation tax revenues also posted a decline of NT$1.9 billion (US$57.58 million) or 8%.
Last year the government scored substantial tax revenues of NT$1.6008 trillion (US$48.51 billion) and the figure might expand to NT$1.7 trillion (US$51.52 billion) this year, exceeding the goal by a projected NT$100 billion (US$3.03 billion), Lee predicted.
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| | ![]() | | | Golden Bridge to Start Delivery of Solar Chargers to Europe
Taipei, Nov. 13, 2007 (CENS)--Actively venturing into development of solar energy, the Taiwan-based Golden Bridge Electech Inc., a supplier of cable solutions, has worked out its first 5V/6V solar charger for mobile phones and personal digital assistances (PDAs), and will start shipment to Europe by the end of this November, according to company source.
Golden Bridge noted that it has won orders for the new products from four to five arge-sized European distribution channels, and will deliver about 2,000 sets initially, with each set selling for about euro199. Besides, the company has planned to launch 12V models for outdoor use, and 16V models for notebook personal computers (PCs), hoping to tap the market for energy-saving solutions.
Golden Bridge has invested US$5 million in building a new plant in Kunshan, eastern China, which will specialize in making solar-energy products and radiofrequency (RF) devices.
M.C. Chang, president of Golden Bridge, said that the company has been actively venturing into production of solar-energy products since the beginning of this year, and has turned out solar chargers and cables for solar cells under its own brand "Gaia." After its new plant is completed next year, shipment of Gaia-branded products will grow as a result.
Chang indicated that Golden Bridge's Zubene series solar chargers adopt three-layer flexible amorphous silicone solar cells, which are 75% lighter than silicone models. After being recharged by solar energy, its 5V/6V solar charger can provide full power that a handset needs a day. The product, priced at euro199 per unit, will hopefully be well received in Europe.
Thanks to robust shipment of its RF cables, Golden Bridge saw its sales revenue break the NT$200 million mark for the first time in August, and the figure hit another new high of NT$214 million in September. In October, the company also reported the second-highest revenue of NT$212 million.
At the moment, Golden Bridge receives orders for more than six million meters of RF cables per month, double the monthly capacity of only three million units posted by its existing plant in China. To counter, the firm has resolved to build a new plant in Kunshan.
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| | ![]() | | | Taiwan's Shipment of Smartphones Reaches 4.896 M. Units in Q3
Taipei, Nov. 13, 2007 (CENS)--With High Tech Computer Corp. (HTC) as a leader in Taiwan's smartphone manufacturing industry, Taiwan smartphone shipment sharply surged 84% from the second quarter of the year to 4.896 million units in the third quarter, according to the Market Intelligence Center (MIC) under the government-funded Institute for Information Industry.
Optimistic about the market for smartphones, Taiwan suppliers will challenge shipment of 6.22 million units in both the fourth quarter of the year and the first quarter of 2008.
MIC noted that Taiwan's production volume of conventional mobile phones amounted to 25.02 million units in the third quarter of this year, growing by over 30% from a quarter earlier but declining 13% from a year earlier. The figure is expected to post a further surge of 25% to reach 31.18 million units in the fourth quarter, a peak sales season. In total, Taiwan is expected to turn out 96.7 million conventional handsets for this year, down 21% from 120 million units recorded last year.
HTC has launched quite a few new phones and started shipment to Palm and i-mate, and other Taiwanese suppliers in the sector, including HTC, Chi Mei Communication System Inc., Inventec Appliances Corp. and Arima Communications Corp., are all expected to report shining sales performance in the fourth quarter.
Accordingly, MIC predicted Taiwan's production volume of smartphones to hit a new high of 6.22 million units in the fourth quarter, up 27% from the third quarter and 82% from a year earlier. Such a robust shipment will last into the first quarter of next year.
However, an average selling price (ASP) of smartphones sold in Taiwan dropped to US$298 per unit in the third quarter of this year, partly because the mature development of high-end smartphones has attracted more competitors to venture into the sector, and partly because 2-generation handsets remain mainstream products in the Taiwanese market.
From another point of view, MIC noted, the price drop has served to spur shipment and boost overall production value in the sector. In the third quarter, production value of the sector stood at US$1.46 billion, soaring by 57% from the second quarter and 78% from a year earlier.
In the meantime, sales of mobile phones in the Taiwanese market rose by 8.8% to 1.84 million units in the third quarter, due mainly to sales of 3-generation handsets increasing to account for 27.3% of total sales, up from 25.95% during summer vacations, according to MIC. Sales for the fourth quarter is estimated at 1.73 million units, down 100,000 units from the third quarter but slightly rising 1% from a year earlier.
MIC indicated growth of the Taiwanese market for mobile phones still relies on how local telecom companies promote their value-added services to trigger more demand for 3- and 3.5-gerneration and high-end phones, which are compatible with audio and video entertainments.
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