090611 events

Events

Today: Hong Kong General Chamber of Commerce luncheon: "The financial & economic crisis: Prospects after the G20". Canadian Chamber of Commerce seminar: "The sustainable buildings master class - Session 3: Sustainable master planning". Exchange Square. French Chamber of Commerce breakfast: "Crisis management: Restructuring your China operations in difficult economic times". Hong Kong Bankers' Club. American Chamber of Commerce luncheon: "Our youth and its positive impact on our communities". Bank of America Tower. Hong Kong Securities Institute seminar: "SFC executive director series - Recent global developments in financial regulation". Wing On Centre. SOPA 2009 Awards for Editorial Excellence. Grand Hyatt Hong Kong. Tomorrow: American Chamber of Commerce luncheon: "The future of marketing in a digital world". Bank of America Tower. Monday, June 15: Hong Kong General Chamber of Commerce luncheon: "China's M&A market: Opportunities under the new M&A tax rules". Beijing: KC Standard Business Consulting, 48 Group Club and China Daily joint event: "Global political risks to Chinese overseas investment". King Talent Hotel.

090611 TPV orders rise amid demand for flat TVs

TPV orders rise amid demand for flat TVs

TPV Technology, the world's largest computer monitor maker, is seeing overall orders improve amid rising demand for flat-panel television sets, chairman Jason Hsuan said. The company's first-quarter net profit tumbled 67.2 per cent year on year to US$14.88 million, but beat brokerage CIMB's estimate of US$12.7 million. Revenue fell 42 per cent to US$1.379 billion. CIMB expected TPV's earnings to resume growth from the fourth quarter on stabilising flat-panel prices, cost-cutting and rising demand. Shares in TPV rose 7.59 per cent to close at HK$3.26 yesterday. Mr Hsuan said the business suffered as firms cut spending on information technology in the quarter. The penetration rate of computers is still quite low and people need a bigger screen for leisure or entertainment in the longer term, he said. Research firm Display Search said global demand for LCD monitors would decline 4.2 per cent year on year to 160 million units this year and could remain flat next year. TPV's first-quarter overall shipments fell 7.3 per cent to 11.4 million units, while LCD monitor sales slid to 9.8 million units from 11.4 million units, but LCD television sales almost doubled to 1.5 million units. TPV said firm demand for LCD television sets in North America and Europe could generate 30 per cent of group revenue by year-end, up from 25.5 per cent in the first quarter. The average selling price of each LCD monitor fell to US$102.20 in the quarter from US$118.60 in the previous period, but gross margin rose to 4.5 per cent from 3.4 per cent. The average selling price of LCD television sets fell to US$239.20 from US$277 per unit, but gross margin improved to 5.1 per cent from 3.7 per cent in the previous quarter. TPV's vice-president of corporate finance Shane Tyau expected the average selling prices to be steady and gross margin to improve this year. Copyright (c) 2009. South China Morning Post Publishers Ltd. All rights reserved.