Taiwan’s first TV shopping company goes public today

Taiwan’s first TV shopping company goes public today

By John Liu ,The China Post
February 27, 2014, 12:03 am TWN

TAIPEI, Taiwan — Fubon Multimedia Technology is slated to be listed in the GreTai Securities Market today, becoming Taiwan’s first TV shopping company to go public.

Fubon Multimedia Technology, a subsidiary of Fubon Group (富邦集團), had an EPS of NT$4.39 in 2013. The company will be traded at NT$158 per share today, obtaining a P/E ratio of 36. The relatively high ratio shows that investors are optimistic about TV shopping. The company opened a TV channel allowing consumers to browse various merchandise.

The company was formed in 2004, and currently has a net asset value of NT$127.8 million. Taiwan Mobile (台哥大) holds 51 percent of company shares, while South Korean company Lotte holds 17 percent and TECO (東元) holds 16 percent of shares.

Fubon Multimedia Technology’s sales reached NT$21.278 billion last year and profited NT$518 million, up 2.48 percent year-on-year.

Beauty and cosmetics products, heath food products, apparel and shoes, fashion products and consumer electronics products were the company’s major sources of revenue.

According to institutional investors, shopping through media such as the Internet and TV is becoming increasingly popular, and the market is expected to grow continuously. Therefore, investors are optimistic about Fubon Multimedia Technology’s potential in the future.

 

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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