Rexon shares fall on recall
By Chen Cheng-hui / Staff reporter
Rexon Industrial Corp Ltd (力山工業), a maker of fitness equipment and power tools, saw its shares drop 15.63 percent in the past two sessions after a major client, Peloton Interactive Inc, last week announced recalls of its Tread+ and Tread treadmills.
In a statement on Wednesday last week, Peloton said that it had reached an agreement with the US Consumer Product Safety Commission to recall and stop distribution of its Tread+ and Tread products in the US, refund consumers, and work on additional hardware modifications, following reports that a child died and others were hurt in accidents involving its treadmills.
Alchip shares plunge by daily limit for fourth day
PHYTIUM FALLOUT: Minister of Economic Affairs Wang Mei-hua said the nation’s chip firms would adhere to US rules after the US added Chinese firms to its entity list
By Chen Cheng-hui / Staff reporter
Alchip Technologies Ltd (世芯), which designs application-specific ICs for other companies, yesterday saw its shares fall by the maximum daily limit of 10 percent for the fourth consecutive session after a key customer was blacklisted by the US Department of Commerce’s Bureau of Industry and Security on Thursday last week.
Alchip on Tuesday said that it had stopped shipments to Chinese semiconductor company Phytium Information Technology Co (飛騰信息技術), which was placed on the US entity list along with six other Chinese companies.
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.