Shoemaker Pou Chen Corp (寶成工業) on Friday reported net profit of NT$4.64 billion (US$155.67 million) in the first quarter of the year, down 26.1 percent from a year earlier, but still the second-highest net profit for the period in the company’s history.
The world’s largest contract maker of branded athletic and casual footwear also has investments in retailing and land development, as well as in financial services providers such as Nan Shan Life Insurance Co (南山人壽).
Pou Chen said the lower profit was largely due to fewer investment gains from Nan Shan, compared with a year earlier. The company booked NT$2.63 billion
Sales of spillover insurance policies in the first quarter grew 242 percent from the same period last year to NT$3.25 billion (US$110.24 million), with “walker-type” policies posting the fastest growth, Financial Supervisory Commission data showed on Thursday.
The policies are named after the spillover effect, when events in one sector affect another, such as when policyholders are granted a premium reduction or bonus after improving their health.
In the first quarter, 219,101 spillover insurance policies were sold, up 85 percent from a year earlier, commission data showed.
Among them, 51,775 “walker policies,” which give a bonus for adhering to a walking regimen, were
Taiwanese banks, insurers and securities firms reduced their exposures to the Ukrainian and Russian markets by a total of NT$143.4 billion (US$4.9 billion) as of the end of last month, down by NT$74.5 billion from two months earlier, the Financial Supervisory Commission said yesterday.
The reduction in exposures was mainly due to the decline in the valuation of Russian bonds, as market prices dipped amid rising default risks since the outbreak of the war in Ukraine, the commission said.
Taiwanese life insurers had invested NT$104.6 billion in Russia, down 25 percent from NT$138.2 billion two months earlier, while no investment was made
Listed companies posted a combined profit of NT$1.27 trillion (US$43.62 billion) from their overseas investment last year, led by the shipping, semiconductor and electronic components sectors, the Financial Supervisory Commission (FSC) said on Tuesday.
Last year’s figure represents an increase of NT$638 billion from 2020 and is the highest over the past decade.
Shipping companies reported combined gains of NT$427.3 billion from overseas investments, compared with NT$50.5 billion a year earlier, thanks to higher freight rates, the commission said.
Electronic component makers followed with investment gains of NT$163.2 billion, up 30.14 percent from NT$37.8 billion a year earlier, due to higher smartphone
RFG Advisory LLC lowered its position in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 7.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,058 shares of the real estate investment trust’s stock after selling 89 shares during the period. RFG Advisory LLC’s holdings in AvalonBay Communities […]