Motech obtains NT$4.8 billion loan

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Motech obtains NT$4.8 billion loan

January 16, 2018 Anand Gupta

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Solar cell maker Motech Industries has disclosed it has secured a 3-year syndicated bank loan of NT$4.8 billion (US$161 million) to repay existing loans and fund operations.

Motech’s December consolidated revenues reached NT$2.099 billion, increasing 2.11% sequentially and 8.72% on year. Those of NT$6.254 billion for fourth-quarter 2017 slipped 0.22% sequentially but grew 15.91% on year, and those of NT$23.189 billion for 2017 dropped 19.94% on year.

Fellow maker Neo Solar Power (NSP) and TSEC reported December consolidated revenues of NT$1.058 billion and NT$451 million, respectively, the former falling 4.71% sequentially and 9.25% on year, and the latter dipping 16.24% sequentially and 27.49% on year.

NSP posted consolidated revenues of NT$3.441 billion for the fourth quarter, increasing 39.46% sequentially and 9.22% on year, and those of NT$10.289 billion for 2017 declined 37.78% on year. TSEC’s consolidated revenues reached NT$1.692 billion in the fourth quarter, growing 0.22% sequentially but slipping 6.57% on year, and those of NT$6.636 billion for 2017 dipped 14.35% on year.