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Japan firm plans Taiwan listing
Staff writer, with CNA
IKKA Holdings (Cayman) Ltd (第一化成控股), a maker of precision plastic injection molded components, is expected to become the first Japanese company to launch a primary listing in Taiwan, with its Taiwan Stock Exchange (TWSE) listing scheduled for May 31, the exchange said.
IKKA Holdings registered in the British Cayman Islands in March 2016. Its major operations are in Japan, as it is an electric vehicle parts supplier to large Japanese automakers.
For the listing, IKKA Holdings is planning to issue 5 million new shares and has tentatively set an issuance price of NT$76, with 15 percent of the shares to be reserved for its employees.
Ministry insists heads of state firms chosen for skills
By Crystal Hsu / Staff reporter
The Ministry of Finance yesterday said that professional credentials are what determine its top choices for chief executives of state-run financial institutions, in an attempt to rebut media reports about political intervention.
The clarification came after local Chinese-language media said that political influence was behind leadership reshuffles at First Securities Inc (第一金證券), Mega Securities Co (兆豐證券) and other companies where the ministry controls a majority stake and names senior executives, with approval from the Executive Yuan.
The ministry said that former First Securities chairman Yeh Kuang-chang (葉光章) tendered his resignation after it launched a probe into allegations of mismanagement and misconduct.
First Commercial forecasts growth
By Chen Cheng-hui / Staff reporter
State-run First Commercial Bank (第一銀行) forecast that its loan growth would reach 7 to 8 percent this year, following an 8 percent increase to NT$1.91 trillion (US$67.5 billion) last year, bank vice president Tsai Su-hwei (蔡淑慧) said.
Benefiting from a low interest rate environment, corporate loan growth at the banking arm of First Financial Holding Co (第一金控) is forecast to reach 8 to 9 percent this year, along with 4 to 5 percent growth in mortgage loans, Tsai said at an online earnings conference on Thursday.
In addition, the company’s net fee income is predicted to grow 15 percent this year on the back of steady growth in the economy, compared with a decline of 6.8 percent to NT$7.33 billion last year, she said.
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