Taiwan shares end down on tech losses in cautious market

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Market vendor in Taipei tests positive for COVID-19

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TAIPEI (Taiwan News) — Testing of merchants at Taipei’s Hulin Market (虎林市場) is underway after a poultry vendor was confirmed to have contracted the coronavirus.

The patient, Taiwan’s COVID-19 case No. 15874, received a positive PCR test result on Aug. 5, despite having received at least one vaccine dose as well as five negative test results last month. The case was identified in a regular screening mandated after a cluster outbreak at one of the capital’s wholesale fruit and vegetable markets in June.

The results of PCR tests conducted on the patient’s family and nine other stall owners came back negative, according to the Taipei City Government on Sunday (Aug. 8). A total of 24 vendors at the market are being tested.

Case No. 15874 worked from 6-11 a.m. between Aug. 3 and Aug. 6 at the market, which is located on Hulin Street in Xinyi District. On Aug. 4, the case visited the Taipei-Fu Chenghuang Temple in Songshan District from 11:30-11:40 a.m.

The public is urged not to panic, as the patient’s cycle threshold (CT) value was 32, which indicates the risk of infecting others is low. The market closed on Saturday (Aug. 7) for three days of disinfection.

Taiwan Mobile invests in Tiki Corp

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Taiwan Mobile invests in Tiki Corp

MAKING INROADS: The strategic cooperation with Vietnam’s largest e-commerce firm marks Taiwan Mobile’s first foray into the country as it seeks a foothold there

By Lisa Wang / Staff reporter

Taiwan Mobile Co (台灣大哥大) yesterday said it has invested US$20 million in series E round of funding for Vietnam’s biggest e-commerce company, Tiki Corp, as it seeks to gain a foothold in rapidly growing greater Southeast Asian (GSEA) markets.

The strategic investment is Taiwan Mobile’s first in Vietnam and would help the company and its e-commerce subsidiary, Momo.com Inc (富邦媒體), explore potential partners and new growth opportunities beyond its home market, the nation’s second-biggest telecom operator said.

“The strategic cooperation with Tiki is the company’s first investment in Vietnam. It also marks the company’s first strategic and meaningful step to make inroads into the country and GSEA markets,” Taiwan Mobile president Jamie Lin (林之晨) said in a statement.

Taiwan Mobile Co president Jamie Lin holds an iPhone 12 at a launch ceremony in Taipei on Oct. 23 last year. Photo: CNA

Taiwan Mobile considers GSEA markets as one of its 5G development targets and would continue to seek new strategic partnerships in the area, including e-commerce, logistics, broadband and 5G-related applications, with the goal of becoming a major telecom and technology services provider in the region, the statement said.

Ho Chi Minh City-based Tiki started out as an online bookstore and has since developed into an e-commerce operator selling a wide range of goods, it said.

The transaction would help Momo.com tap into the rapidly growing e-commerce market in Vietnam and allow it to leverage Tiki’s local strength in terms of market position, warehouses and logistic systems. The companies expect to create synergies in expanding sales and logistics, the statement said.

From last year to 2025, the e-commerce market in Vietnam is expected to post an annual compound growth rate of 34 percent to reach US$29 billion, Taiwan Mobile said, citing a joint report by Google, Temasek Holdings Pte and Bain & Co.

Momo.com, which contributed more than 50 percent to Taiwan Mobile’s revenue, has been cautious about its overseas expansion. It operates a TV sales unit in Thailand.