Fubon aiming to raise NT$50bn to buy Jih Sun stake taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Taiwan might be heading into another record summer of electricity use, Taiwan Power Co (Taipower, 台電) said yesterday.
First-quarter electricity use increased 3 percent year-on-year, with the last three days of last month breaking record peak use for March, the state-run utility said.
So far this month, power use is up 7 percent year-on-year. The most power used this month was on Thursday last week when 32.765 gigawatts (GW) were used in a day, up from the previous April record of 29.99GW.
The all-time record for single-day electricity use was set on July 23 last year, when usage reached 38.02GW.
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The nation’s major financial conglomerates with life insurance subsidiaries have reported higher net profits for the first quarter of this year on the back of investment returns, buoyed by the booming domestic stock market, companies’ data showed.
Fubon Financial Holding Co (富邦金控), the nation’s second-largest financial holding firm by assets, yesterday reported net profit of NT$11.49 billion (US$403.7 million) for last month, up 42 percent year-on-year, while its net profit totaled NT$50 billion in the first quarter, up 118 percent year-on-year, it said in a statement.
Earnings per share were NT$4.89 in the first quarter, ranking the company first among the nation’s
Fubon Financial rejects rumors on Jih Sun deal
SPECULATION: Fubon Financial said if it wanted to help Tomorrow Holding dispose of its assets, it would have acquired it directly, instead of going through Jih Sun
Staff writer, with CNA
Fubon Financial Holding Co (富邦金控) yesterday dismissed speculation that its bid to acquire smaller rival Jih Sun Financial Holding Co (日盛金控) is aimed at helping a Chinese shareholder dispose of his assets for cash.
Fubon Financial said in a statement that before it announced a tender offer on Friday to acquire Jih Sun, it had never made any contact with either of Jih Sun’s two majority shareholders Japan’s Shinsei Bank and Hong Kong-based Capital Target Ltd (建群投資).