Clevo Co (藍天電腦) has raised its notebook computer shipment target for the second half of the year in light of stronger-than-expected shipments of 650,000 units in the first half, the company said in a stock exchange filing yesterday.
After shipping a record 130,000 units last month, Clevo raised its second-half shipment target to 1.5 million units from its prior forecast of 1.31 million units, it said in the filing.
“Clevo is experiencing particularly strong second-half notebook demand from new developing markets. We used a 4:6 ratio for our first and second-half shipment figures to calculate this increase in demand. Hence, Clevo is boosting its factory capacity to be able to manufacture 17,000 units per month,” Danny Yu (游添榮), a senior vice president at Clevo, said in the filing.
The company’s notebook shipment adjustment came after it inked a five-year US$48 million syndicated loan with five local lenders to fund its growth. The terms of the loan is LIBOR (London Inter-Bank Overnight Rate) plus 0.85 percentage points.
The lead underwriters are Taiwan Business Bank (台灣企銀) and Cathay United Bank (國泰世華銀行). Yuanta Commercial Bank (元大銀行), Hua Nan Commercial Bank (華南銀行) and the Land Bank of Taiwan (土地銀行) are co-underwriters.
Clevo said it would use the funds for its offshore manufacturing facility in Kunshan, China.
Asked who its main clients are, Clevo spokesperson declined to comment, citing confidentiality.
Shares of Clevo closed 0.11 percent higher at NT$45.15 yesterday. The stock has declined 0.45 percent year to date.
Tony Tseng (曾省吾), a Taipei-based analyst at Merrill Lynch, said in a report yesterday that Taiwanese notebook makers were expected to outperform their third-quarter seasonal average by 7 percentage points, while motherboard makers were forecast to underperform by 6 percentage points.
“In the third quarter, total PC shipments out of Taiwan are expected to increase by 17.1 percent quarter over quarter,” Tseng wrote.
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