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January operating results reported by companies

TAIPEI, Taiwan -- In the company's Lunar New Year press event, the Bank of Taiwan (BOT, 台銀) yesterday reported 2013 profits of NT$8.8 billion, marking a six-year high.

The company stated that if not for the burdens of government policies, such as the 18-percent annual savings account interest rate extended to certain public sector retirees, the company would have recorded spectacular pre-tax net income of NT$20.4 billion.

Meanwhile, Siliconware Precision Industries (SPIL, 矽品) yesterday reported January revenues of NT$6.024 billion, recording a marked 30.92 percent year-on-year growth. January revenues, however, declined about 1 percent month-on-month, from the NT$6.089 billion seen last December.

According to foreign institutional investors, SPIL's shipment of telecommunication integrated circuit assembly is expected to have grown steadily throughout January, including both wire bonding flip chip fabrication, on account of expanding demand from mobile applications, in line with the company's upbeat outlook expressed previously.

Foreign institutional investors, however, stated that the company's performance is expected to decline slightly in the first quarter of this year. Revenues are expected to see a 4- to 8-percent decline over the period, foreign institutional investors said.

According to SPIL, revenue contributions from mobile applications are expected to continue growing in the first quarter, while shipments of integrated circuits for consumer electronics, memory, and PCs are expected to decline. The company added that its wire bonding and flip chip fabrication and assembly will remain high at the 72 to 76 percent and 87 to 91 percent range respectively.

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