Alexa
  • Directory of Taiwan

Largan, 10 others added to high compensation index

Largan, 10 others added to high compensation index

Taipei, June 17 (CNA) Taiwan-based smartphone camera lens supplier Largan Precision Co. and 10 other stocks were added to the Taiwan High Compensation 100 Index (Taiwan HC 100 Index) on Wednesday, according to the Taiwan Stock Exchange (TWSE).
Largan, one of Apple's leading suppliers in Taiwan and an important "Apple concept stock," had earnings per share of NT$144.91 (US$4.67) in 2014, up from NT$71.64 in 2013, because of strong sales of Apple's iPhone 6 and iPhone 6 Plus.
Analysts said Largan gave average raises of more than 20 percent to its employees last year, which prompted the exchange to include the stock in the Taiwan HTC 100 Index after its annual review in June.
The Taiwan HC 100 Index, jointly launched by the TWSE and index provider Research Affiliates LLC on Aug. 25, 2014, is aimed at encouraging companies listed on the exchange to raise salaries for their employees as part of their corporate social responsibility. The index's constituents are selected and weighted based on their employee compensation, the exchange said.
Among the other stocks added to the Taiwan HC Index on Wednesday were China General Plastics Corp., contract electronics maker Qisda Corp., memory chip supplier Winbond Electronics Corp., Shihlin Electric & Engineering Corp., and PC vendor Micro Star International Co..
The five other new additions were DRAM maker Nanya Technology Corp., Aerospace Industrial Development Corp., Taichung Commercial Bank, Yuanta Financial Holding Co., and wafer chip material supplier Formosa Sumco Technology Corp..
The TWSE said it was also removing 10 stocks from the index to make room for the new entries.
They included Grand Pacific Petrochemical Corp., China Petrochemical Development Corp., China Steel Structure Co., auto maker Yulon Motor Co., and semiconductor firm United Integrated Services Co..
The other five that lost their spots were Ruentex Engineering & Construction Co., First Insurance Co., Waterland Financial Holding Co., computer keyboard maker Silitech Technology Co., and chip maker Sonix Technology Co..
Before the annual index review, there were only 99 stocks in the Taiwan HC 100 Index after one of the index's constituents, Cosmos Bank, was acquired by China Development Financial Holding Co. in September 2014. (By Tien Yu-pin and Frances Huang)


Updated : 2021-09-22 14:40 GMT+08:00