Industry Report Card: Taiwan's High-Tech Firms Benefit From Stabilizing Demand And Moderate Leverage In 2013; Outlook Stable Jan 13
- Language: English
- Published: January 2013
- Region: Taiwan
Global economic uncertainty and weak and still-volatile demand create a negative outlook for Taiwan's high-tech sector in 2012, exerting downward pressure on the credit quality of high-tech players over the next few quarters. Standard & Poor's Ratings Services believes that while most rated high-techs in Taiwan have sufficient financial flexibility to absorb moderate market turbulence over the next six months, an extended downturn could severely damage their credit profiles. We expect most local high-tech firms to maintain high cash balances in 2012 to offset rising demand volatility. Taiwanese high-techs have stockpiled cash reserves over the past few quarters in unison with their global peers. We assess the liquidity of our rated high-tech companies as mostly adequate to strong. This reflects...
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Research Type: Commentary
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- Micron Technology Inc.
- Taiwan Power Co.
- Chunghwa Telecom Co. Ltd.
- Taiwan Mobile Co. Ltd.
- Far EasTone Telecommunications Co. Ltd.
- Hon Hai Precision Industry Co. Ltd.
- United Microelectronics Corp.
- Ritek Corp.
- Siliconware Precision Industries Co. Ltd.
- Yang Ming Marine Transport Corp.
- Compal Electronics Inc.
- Taiwan Semiconductor Manufacturing Co. Ltd.
- CMC Magnetics Corp.
- China Airlines Ltd.
- Formosa Chemicals & Fibre Corp.
- Formosa Plastics Corp.
- Fortune Motors Co. Ltd.
- Nan Ya Plastics Corp.
- Unimicron Technology Corp.
- Qisda Corp.
- Macronix International Co. Ltd.
- Nan Ya Printed Circuit Board Corp.
- Mai-Liao Power Corp.
- Wan Hai Lines Ltd.
- HannStar Display Corp.
- Chi Mei Optoelectronics Corp.
- Chi Mei Corp.
- Cathay Real Estate Development Co. Ltd.
- Pan Ram International Corp.
- Nanya Technology Corp.
- KWorld Computer Co. Ltd.
- Asia Cement Corp.
- Ho-Ping Power Co.
- Everlight Electronics Co. Ltd.
- Inotera Memories Inc.
- Sintronic Technology Inc.
- Huga Optotech Inc.
- Chimei Innolux Corp.
- VTC Electronics Corp.
- Godex International Co. Ltd.