Business and Finance

Taiwan touts barista-taste AI coffee machine

Focus Taiwan
Date: 2019/09/17
By: Tsai Peng-min and Chung Yu-chen

Photo from idrip.coffee website

Taipei, Sept. 17 (CNA) iDrip, a Taiwan-made smart coffee maker that recreates a barista taste using artificial intelligence (AI) that simulates the manual brewing process has attracted the attention of coffee lovers worldwide, according to its investor, the National Development Council (NDC).

Speaking at a press conference Tuesday, NDC chief Chen Mei-ling (陳美伶) said the agency has invested NT$20 million (US$645,800) in the AI coffee maker project initiated by local entrepreneur John Yeh (葉建漢) as part of the NDC's efforts to support and invest in startups in the nation.

According to the NDC, the iDrip database contains data on a number of champion baristas' brewing procedures and the manufacturer also produces coffee bags with specific barcodes, which represents corresponding data of the companions' brewing procedures.

Once the coffee bag with a specific barcode — which varies from one coffee expert to another — is inserted into the machine, the coffee maker will automatically connect to Wi-Fi, scan the code and make the coffee.    [FULL  STORY]

Nan Shan Life fined NT$30m

‘ENVISION PROJECT’: Nan Shan Life chairman Du Ying-tzyong, who was responsible for the project, was banned from being chairman or a board member for two years

Taipei Times
Date: Sep 18, 2019
By: Kao Shih-ching  /  Staff reporter

The Financial Supervisory Commission yesterday fined Nan Shan Life Insurance Co (南山人壽) NT$30 million (US$966,651) for its failure to solve the problems of its “Envision Project” information techonolgy system, the highest-ever fine levied in a single case.

The system has caused problems with about 152,000 policies sold by the company, Insurance Bureau Director-General Shih Chiung-hwa (施瓊華) told a news conference in New Taipei City, with some policies automatically being suspended or halted.

Nan Shan Life has contacted about 150,000 affected policyholders and has promised the commission that it would compensate its clients as soon as possible, Shih said.

Even so, the commission has barred the company from selling any new investment-linked policy (ILP) products until it has fixed the problems and has passed an examination by an independent third party, Shih said.    [FULL  STORY]

SEMICON Taiwan expected to attract 50,000 visitors

5G mobile communication, AIoT, and high-performance computing will drive growth in the semiconductor industry

Taiwan News
Date: 2019/09/16
By: George Liao, Taiwan News, Staff Writer

(SEMI photo)

TAIPEI (Taiwan News) – SEMICON Taiwan will take place at Taipei Nangang Exhibition Center, Hall 1, from Wednesday (Sept. 18-20).

This year SEMICON Taiwan has assembled more than 700 exhibitors and organizes 21 forums, with more than 300 speeches and presentations, CNA reported. The semiconductor trade show will feature advanced semiconductor manufacturing processes, heterogeneous integration, sustainable manufacturing, smart applications, and compound semiconductors.

There will also be a simulated 200mm-wafer clean room interactive area at the venue, the news agency said. It added the trade show is expected to attract more than 50,000 visitors.

Terry Tsao (曹世綸), president of SEMI Taiwan, which organizes the trade show, said that exhibition areas and forums dedicated to smart manufacturing, smart vehicles, smart data, and smart healthcare have been planned for this year's show. 5G mobile communication, AIoT, and high-performance computing will further drive growth in the semiconductor industry, he added.
[FULL  STORY]

Nearly half of office workers want to enter e-commerce industry: poll

Focus Taiwan
Date: 2019/09/16
By: Wu Chia-jung and Evelyn Kao

Taipei, Sept. 16 (CNA) With the fast development of e-commerce, up to 46.7 percent of office workers intend to get into the industry, with those in the 31-35 age bracket the most enthusiastic, according to the results of a survey released Monday by 1111 online job bank.

The major reasons for wanting to enter the industry include "e-commerce is a trend/bright industry prospect," "doing a side job to make extra money," "doing a job that is not bound by time or space," "to develop a new skill" and "plenty of opportunities to increase income," according to the survey.

The poll also found that up to 93 percent of office workers have made at least one online purchase over the past year, with 53.7 percent having gone online shopping for products from overseas.

Most office workers in the e-commerce industry are in the 21-25 age bracket, showing that young heavy Internet users are more prone to getting into the industry and make up a large proportion of employees in the sector, according to the job bank.    [FULL  STORY]

SGRE breaks ground at Taichung port

OFFSHORE WIND FARMS: The facility is expected to provide more than 100 job opportunities, with construction likely to be completed by the end of next year

Taipei Times
Date: Sep 17, 2019
By: Natasha Li  /  Staff reporter

Wind turbine manufacturer Siemens Gamesa Renewable Energy SA (SGRE) yesterday unveiled its

Taichung Deputy Mayor Bruce Linghu, fourth left in blue vest, Minister of Economic Affairs Shen Jong-chin, fifth left, and Minister Without Portfolio Kung Ming-hsin, fifth right, yesterday wield shovels at a groundbreaking ceremony at Taichung Harbor along with representatives of offshore wind turbine manufacturers.
Photo: CNA

nacelle assembly facility in Taichung — the Spanish company’s first outside Europe.

After Danish energy company Orsted A/S in June placed an order of wind turbines for its 900 megawatt (MW) wind farm project off the coast of Changhua County, SGRE decided to establish a nacelle assembly facility at the Port of Taichung, for which it leased 3 hectares from Taiwan International Ports Corp’s (TIPC, 台灣港務) Taichung branch.

A nacelle is a casing that houses all of the generating components in a wind turbine.

Construction of the facility, which would include an office and storage area, as well as serve as a nacelle testing center, is expected to be completed by the end of next year, SGRE said.
[FULL  STORY]

Taiwan expected to report further export fall for August

Focus Taiwan
Date: 2019/09/13
By: Liao Yu-yang and Frances Huang

Taipei, Sept. 13 (CNA) Taiwan is expected to report another year-on-year fall in export orders for August at a time when the escalating trade disputes between the United States and China has sent ripples through the global market, the Ministry of Economic Affairs (MOEA) said Friday.

Citing the results of a survey, the MOEA statistics department said export orders for August are estimated to range between US$41.5 billion and US$42.5 billion, down 2.7 percent-5 percent from a year earlier, marking the 10th consecutive month of a year-on-year decline.

In addition to the impact of the global trade war, the MOEA said a relatively high comparison base over the same period of last year would also contribute to the fall in August.

The MOEA is scheduled to release the August export orders data Sept. 20.    [FULL  STORY]

Large OSAT firms poised to win: Fitch

BIGGER BETTER? Big semiconductor outsourced assembly and test firms have the technological and financial advantages over smaller firms to ride out the storm

Taipei Times
Date: Sep 14, 2019
By: Crystal Hsu  /  Staff reporter

With demand for smartphones and personal computers declining, large outsourced semiconductor assembly and test (OSAT) companies should fare better than their smaller rivals because of their better technological capabilities, more diversified product portfolios and financial flexibility on research and development, Fitch Ratings said.

The industry could see a short-term recovery in revenue after a severe downturn in the first half of this year, thanks to the arrival of new-generation smartphones and better demand for wearables and automotives, the international ratings agency said.

Larger firms, such as Taiwan’s ASE Technology Holding Co (ASE, 日月光投資控股) and US-based Amkor Technologies, should see faster growth and gain market share at the expense of Chinese rivals Jiangsu Changjiang Electronic Technology (江蘇長電科技) and Singapore’s Global A&T Electronics Ltd, it said.

Larger chip assembly and test companies have conservative leverage and have been diversifying to offer new products, such as wearables, automotive and Internet of Things, where demand is growing rapidly, it said.    [FULL  STORY]

Taiwan’s Kai Ping Culinary School offers internationally recognized culinary education

Culinary academy in Taipei trains next generation of service industry leaders in Taiwan

Taiwan News
Date: 2019/09/12
By: Duncan DeAeth, Taiwan News, Staff Writer

Annual honors ceremony (Photo Courtesy of Kai Ping Culinary School)

TAIPEI (Taiwan News) – Taiwan’s first and only vocational school specializing in culinary education for high school students continues to expand its educational offerings with a unique approach to teaching practical skills. Kai Ping Culinary School (開平餐飲學校) is Taiwan’s only high school -level educational institute certified by the World Association of Chefs Societies.

Located in Taipei’s Da’an District, Kai Ping strives to train the next generation of professional chefs to enrich Taiwan’s hospitality and service industries. Kai Ping has a history of over 60 years as an educational institute and has specialized in culinary education since 2007, receiving WorldChefs recognition in 2015.

In recent years, Kai Ping has steadily expanded its international network with culinary academies in other countries and further enriched its own curriculum. In order to better simulate the environment and demands of work in the service industry, Kai Ping has adopted a model of education that has created a micro-society within the school, where students learn to assume different roles in their interactions with educators, guests, and one another.

To better prepare students for work in the hospitality industry, the school has adopted a pedagogy termed “Phaslized Thematic Socialization,” or “learning through doing,” via modules crafted to train students in various vocational, social, and cultural skills. Across the street from the school campus, Kai Ping maintains a restaurant that is entirely operated by students, where they can test their skills and gain practical service experience.    [FULL  STORY]

Taiwan’s regular wage up over 2.42% in July

Focus Taiwan
Date: 2019/09/12
By: Wu Po-wei and Frances Huang

Taipei, Sept. 12 (CNA) The average regular wage in Taiwan rose 2.42 percent from a year earlier in July after a 2.33 percent year-on-year increase in June, indicating that regular wages in Taiwan grew in a stable manner, according to the Directorate General of Budget, Accounting and Statistics (DGBAS).

However, real wages stayed at a similar level they were at 17 years ago after inflationary adjustments.

Data compiled by the DGBAS showed that the average regular wage for July stood at NT$41,927 (US$1,344), up NT$992, or 2.42 percent from a year earlier. On a month-on-month basis, the July average regular wage also rose 0.40 percent, the data indicated.

Pan Ning-hsin (潘寧馨), deputy director of the DGBAS census department, told reporters that the growth on both the year-on-year basis and month-on-month basis showed that Taiwan's wages still grew steadily, while the economic growth showed signs of moderating amid a global trade war.
[FULL  STORY]

Dry on cash, CPT cuts salaries

OTHER LCD NEWS: Terry Gou has reportedly given up his controlling stake in SDP, which is building an LCD plant in Guangzhou, in a bid to distance himself from China

Taipei Times
Date: Sep 13, 2019
By: Lisa Wang  /  Staff reporter

Chunghwa Picture Tubes Ltd (CPT, 中華映管) yesterday said that most of its employees would only receive part of their monthly salaries as the company has run out of cash due to slumping orders.

The LCD panel maker has used up all of its working funds and would not be able to pay severance fees, retirement fees and other perks, it said in a filing with the Taiwan Stock Exchange.

CPT had applied for insolvency protection with the Taoyuan District Court, but its hopes were dashed after the court on July 29 rejected its restructuring plan and overruled its final appeal.

“The company has depleted all its capital and failed to fully pay employees’ August salaries on Sept. 11,” CPT said in the filing. “The board of directors has approved the proposal to pay employees part of their salaries on Sept. 12.”    [FULL  STORY]