Business and Finance

FAT’s poor flight planning to blame for cancellations: Taiwan’s CAA

Taiwan News  
Date: 2019/05/19
By:  Central News Agency

(Wikipedia photo)

Last-minute flight cancellations on May 17 by Far Eastern Air Transport Corp. (FAT), a medium-sized international carrier in Taiwan, were a result of the carrier’s poor flight planning, constrained by its aging fleet, the Civil Aeronautics Administration (CAA) said Sunday.

While FAT has complained that the cancellations were necessary after it exceeded its maximum number of flight hours of 1,350 hours per month set by the CAA, the administration said it had warned the carrier back in April that its flight hours scheduled for May could break the threshold.

The CAA said it has applied flight hours control to FAT since March 2017 due to safety concerns, as the airline has an old fleet comprising eight McDonnell Douglas (MD) aircraft that have been suffering more malfunctions in recent years.

According to the CAA, four of the aircraft are more than 26 years old, with the oldest topping 28 years, which poses serious flight safety concerns.    [FULL  STORY]

FAT required to submit future flight schedules: CAA

Focus Taiwan
Date: 2019/05/19
By: Lee Hsin-yin

CNA file photo

Taipei, May 19 (CNA) Far Eastern Air Transport Corp. (FAT), a medium-sized international carrier in Taiwan, will have to submit its flight schedules for June and July to the Civil Aeronautics Administration (CAA) in advance, in the wake of the carrier’s surprise cancellations May 17 that affected nearly 1,000 passengers, the administration said Sunday.

“FAT must submit their plan to us on Monday on condition of the maximum number of flight hours of 1,350 hours,” said Deputy Minister of Transportation and Communications Chi Wen-jong (祁文中) after an emergency meeting with FAT executives.

Chi’s comments came after the airline canceled its flights May 17 to Palawan and Boracay in the Philippines and Danang in Vietnam for the rest of May, effective the following day.

While FAT has complained that the cancellations were necessary after it exceeded its maximum number of flight hours of 1,350 hours per month set by the CAA, the administration said it had warned the carrier back in April that its flight hours scheduled for May could break the threshold.    [FULL  STORY]

Taiwan may bear brunt of Huawei ban

KNOCK-ON EFFECT: Analysts said the ban could extend to suppliers whose products contain US-sourced components, with the networking sector likely to be hurt worst

Taipei Times
Date: May 20, 2019
By: Chen Cheng-hui  /  Staff reporter

The US sanction on Huawei Technologies Co (華為) threatens to disrupt the Chinese company’s access to component suppliers and Taiwan’s networking sector could be affected the most, analysts said.

Huawei is the world’s largest maker of mobile base station and optical communications equipment, and the world’s second-largest smartphone vendor. It sources components from countries around the globe, including Taiwan.

However, Washington’s move last week to add Huawei and 70 of its affiliates to the US government’s “Entity List” would ban the Chinese company from procuring components and technology from US firms without US government approval.

The impact could extend to Huawei’s non-US suppliers if the company’s production was forced to shut down, analysts said.    [FULL  STORY]

Sha Yang Ye Robot Wonderland spotlights Taiwan’s high-tech prowess

Taiwan Today
Date: May 17, 2019

Service robots designed for companionship, education, entertainment, rescue missions and other purposes are the stars at Sha Yang Ye Robot Wonderland in northern Taiwan’s Taoyuan City. (Staff photo/Chin Hung-hao)

The desire to educate and inspire was a major motivation for Tsai Feng-chun, chief executive offer of Sha Yang Ye Industrial Co. Ltd., in establishing tourism facilities at the headquarters of his firm in northern Taiwan’s Taoyuan City.

“We are moving into the age of robotics,” Tsai said. “So, our establishment aims to inform the public about the important role robots play in modern life, as well as stimulate young people’s interest in intelligent automation technologies.”

Since opening in 2013, Sha Yang Ye Robot Wonderland has successfully showcased the company’s wares while helping raise its profile as a leading original design manufacturer of high-precision microgeared motors.

The wonderland displays a range of service robots designed for companionship, education, entertainment, rescue missions and other purposes. Some of the most popular devices are puppet-like creations in the form of prominent local cultural symbols such as the Taoist deity known as the Third Prince.    [FULL  STORY]

Taiwan’s economic growth rate claws to top of Asia’s 4 tigers

Taiwan’s economic growth rate this year leaps to top of Asia’s 4 tigers for first time in over 10 years

Taiwan News
Date: 2019/05/17
By: Keoni Everington,Taiwan News, Staff Writer

Four Asian Tigers. (By Wikimedia Commons)

TAIPEI (Taiwan News) — Financial information firm IHS Markit predicts that Taiwan’s economic growth rate will lead the pack among Asia’s four tigers, for the first time in more than 10 years.

According to London-based IHS Markit, Taiwan’s economic growth rate this year will be 2 percent. This economic growth rate will put Taiwan on a path to surpass its rival Asian tigers, including Hong Kong (1.8 percent), South Korea (1.7 percent), and Singapore (1.4 percent), according to the firm.    [FULL  STORY]

TSMC remains No. 3 IC supplier worldwide in Q1

Focus Taiwan
Date: 2019/05/17
By: Chang Chien-chung and Frances Huang 

Taipei, May 17 (CNA) Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, remained the third largest integrated circuit supplier in the world in the first quarter of this year, according to market advisory firm IC Insights.

Data released by IC Insights on Thursday showed that TSMC posted US$7.096 billion in sales in the January-March period, down 16 percent from a year earlier in the wake of weaker global demand, but its ranking remained unchanged.

In the first quarter, U.S.-based semiconductor giant Intel Corp. overtook Samsung Electronics Co. of South Korea to become the world’s largest IC supplier as the South Korean firm saw sales revenue plunge due to a tumble in the price of dynamic random access memory chips and NAND flash chips used in storage, IC Insights said.

Intel posted US$15.80 billion in sales in the first quarter, little changed from a year earlier, while Samsung’s sales revenue fell 34 percent from the previous year to US$11.99 billion, the data showed.    [FULL  STORY]

Electronics drag on industrial output

FAVORABLE  WINDS:Shen Jong-chin was optimistic due to the more than NT$288.4 billion invested by returning firms and the advancement of wind farm installations

Taipei Times
Date: May 18, 2019 
By: Natasha Li  /  Staff reporter

Industrial output in the first quarter declined 4.95 percent year-on-year, putting an end to nine consecutive quarters of gains, as the electronics sector weakened, the Ministry of Economic Affairs said yesterday.

Overall output totaled NT$3.16 trillion (US$100.97 billion) from NT$3.32 trillion a year earlier, the ministry said.

The soft performance of vendors of electric parts and components underpinned the retreat, it said.

Taiwan is home to the world’s largest contract makers of electronic components used in mobile devices and laptops.    [FULL  STORY]

Taiwan’s financial sector exposure to US, China tops NT$10 trillion

Taiwan News
Date: 2019/05/16
By:  Central News Agency

Exposure of the local financial sector to the United States and China has surpassed the NT$10 trillion level, and the massive international claims on the top two economies have prompted the Financial Supervisory Commission (FSC) to more carefully watch the rising trade tension between the two countries.

The FSC said an escalation of a trade war between the U.S. and China could boost potential risk for the three financial industries.

The U.S. Trade Representative office released a list Monday of US$300 billion-worth of additional products imported from China on which 25 percent punitive tariffs could be imposed, as the two countries seemed content to exchange threats rather than find a solution.

On May 10, Washington raised tariffs on US$200 billion-worth of Chinese merchandise to 25 percent from 10 percent and Beijing retaliated with threats of tariffs of its own.

NT$288 billion investment pledged by returning Taiwanese firms: MOEA

Focus Taiwan
Date: 2019/05/16
By: Tsai Peng-min and William Yen

Screenshot of AOET’s official website

Taipei, May 16 (CNA) More than NT$288.4 billion of investment has been pledged by Taiwanese firms planning to return home as of Thursday, when three more firms responded to a government effort to attract investment from overseas Taiwanese firms returning to the country, according to the Ministry of Economic Affairs (MOEA).

The three companies — materials producer DingZing, optical lens supplier Ability opto-Electronics Technology co. Ltd. (AOET) and welding and wire company Kuang Tai Metal Industrial Co. (Kuang Tai), Ltd. — are expected to invest over NT$8.9 billion and create about 900 new jobs, the ministry said.

DingZing, which has operations in China, the United States and Vietnam, plans to invest over NT$2 billion in Taiwan, establishing facilities in Pingtung to produce advanced optical products, which will create 320 new domestic jobs, the MOEA said.

Meanwhile, AOET plans to invest more than NT$4 billion in Central Taiwan Science Park in Taichung by establishing new facilities with automated machinery and equipment, while recruiting a workforce of over 500, the MOEA pointed out.    [FULL  STORY]

TPK still optimistic on JDI deal

SYNERGY: The touch sensor supplier dismissed speculation that negotiations to acquire a 50 percent stake in the Japanese display manufacturer have broken down

Taipei Times
Date: May 17, 2019
By: Lisa Wang  /  Staff reporter

TPK Holding Co (宸鴻), a touch sensor supplier for Apple Inc’s iPads, yesterday said it is seeking to wrap up talks for a 50 percent stake in Japan Display Inc (JDI) by the end of this year.

The Taipei-based company said that it is not giving up yet, as the deal would create synergy for the company’s touch business, TPK chairman Michael Chiang (江朝瑞) told reporters on the sidelines of the firm’s annual shareholders’ meeting in Taipei.

The deal would help secure panel supply from the Tokyo-based maker based on a proposed supply agreement by TPK, with an aim to boost TPK’s role in the supply chain, enlarge its customer base and expand its market share in automotive displays.

“The negotiation is still going on. We cannot disclose details, but what I can tell you is that we are working together toward solving differences between the two parties,” Chiang said in response to a shareholder’s question about the deal.    [FULL  STORY]