TAIWAN: Three Textile Suppliers See Strong Growth
Three leading textile companies - Far East Textile, Formosa Chemical, and Nien Hsing - all enjoyed sharp revenue growth in both October and the first 10 months of the year, the China Economic News Service reported today.In October alone, Far East Textile Ltd and its reinvestment subsidiaries registered a total revenue of NT$6.13bn, up by 39.65 per cent from the same month a year ago. In the first ten months, the firm's revenue amounted to NT$55.86bn, up by 36.37 per cent from NT$40.96bn registered in the same period in 1999. Formosa Chemical & Fiber Corp registered revenue of NT$5.91bn in October, up by 25.37 per cent from NT$4.71bn in the same month in 1999. The firm's revenue totalled NT$53.49bn in the first ten months, up by 46.03 per cent from NT$36.63bn registered in the same period a year ago.Nien Hsing, the firm's revenue, calculating those from overseas subsidiaries, reached NT$693m in October, up by 28.6 per cent from NT$539m registered in the same month in 1999. During the January-October period, the firm's revenue totalled NT$6.82bn, up by 21.97 per cent from the same period a year ago.Strong performance of the three companies has prompted Morgan Stanley Capital International to include them among underlying stocks of MSCI's Taiwan index that has been widely used as investment reference for international stock investors.
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