TAIPEI (Taiwan News) -- Below are business news briefs from Taiwan for March 9.
Telecom company T Star (台灣之星) announced today that it is approaching 1 million 4G subscribers with 30 consecutive months of net growth in subscribers. The company said that its first million subscribers will be offered a free month of service. 4G users account for about 30 percent of its customers, according to an Apple Daily report.
T Star also announced it signed a marketing cooperation agreement with Yahoo Taiwan today in which T Star subscribers will receive points to be used in exchange for products. The agreement will allow T Star 4G subscribers to exchange their old phones and redeem points for other products on Yahoo Taiwan. Customers could previously only exchange old phones for new ones.
Fubon Financial Holding Co. (富邦金融控股公司) reported a net profit of NT$4.174 billion (US$134.7 million) and EPS of NT$0.65 in February. Net profit for the financial firm increased from NT$3.068 billion in the same period last year. Fubon attributed the profit to improved investment performance and a slowing appreciation of the New Taiwan Dollar. By comparison, CTBC Financial Holding Co. (中國信託金融控股) reported a February EPS of NT$0.37.
ASUSTEK Computer Inc. (華碩) reported February revenue of NT$31.818 billion, a 1.5 percent month-on-month increase but a 10.1 percent decrease year-on-year. The company expects its revenue in March to improve.
Wafer foundry United Microelectronics Corp. (UMC聯華電子) reported that its February revenue fell to a 10-month low. The company guides that its first quarter consolidated revenue will total NT$6.25 billion-6.55 billion.
The Ministry of Finance announced today that tax revenue in February reached NT$68 billion, an increase of NT$5.2 billion from the same period last year, UDN reported.
The Taiwan Stock Exchange followed the third day of losses in the Dow Jones Industrial Average and S&P 500 yesterday, falling 94.84 points, 0.97 percent, today to close below the 9700 benchmark, settling on 9658.61. Nearly all sectors suffered losses on the day, though some companies bucked the trend to record gains.
The stock market losses across Asia were attributed to a buildup in U.S. oil stockpiles depressing crude prices and energy company stocks, according to the AP.