Business and Finance

ANZ Bank quashes rumors of planned exit from Taiwan

Focus Taiwan
Date: 2017/06/08
By: Tsai Yi-chu and Y.F. Low

Taipei, June 8 (CNA) ANZ Bank (Taiwan) on Thursday rejected speculations that the

CNA file photo

recent resignation and retirement of three of its top executives was part of its plan to withdraw from the Taiwan market.

ANZ said the personnel changes were normal and stressed that it had no plans to pull out of Taiwan.

The speculations emerged after the bank announced Wednesday that Alistair Bulloch had resigned as its chairman while board member Terry King (經天瑞) had retired, with effect from June 1.

The announcement followed the retirement in early May of another board member, Chen Fu-lan (陳富蘭) and meant that three of the seven seats on the ANZ board had become vacant.    [FULL  STORY]

TSMC still outpacing industry: Chang

ROBUST GROWTH:TSMC’s chairman expects the company’s revenue to continue growing by 5 to 10% annually, as the semiconductor industry continues to advance

Taipei Times
Date: Jun 09, 2017
By: Lisa Wang / Staff reporter, in Hsinchu

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest IC

Taiwan Semiconductor Manufacturing Co chairman Morris Chang presides over the annual shareholders’ meeting yesterday in Hsinchu. Photo: CNA

foundry service provider, yesterday dismissed concerns that its business might have entered a mature phase, saying it is on track to attain its five-year goal of increasing revenue by 5 to 10 percent annually through 2020.

Since the goal was set two years ago, TSMC has seen its revenue climb 12.4 percent year-on-year to NT$947.94 billion (US$31.49 billion) last year, driven primarily by smartphone chip demand.

“I think that is still our growth target,” TSMC chairman Morris Chang (張忠謀) told shareholders during an annual meeting in Hsinchu.

With such robust growth prospects, “I do not think TSMC is mature. We have not entered that phase yet,” Chang said in response to a shareholder’s question.
[FULL  STORY]

Asustek plans to sell robot ‘Zenbo’ in China late September

The China Post
Date: June 8, 2017
By: CNA

TAIPEI, Taiwan — Taiwan-based PC brand Asustek Computer Inc. (華碩) said on Wednesday that it plans to start selling its home robot “Zenbo” in China at the end of September after the gadget hit the Taiwan market earlier this year.

At an annual shareholder meeting held in Taipei, Asustek Chairman Jonney Shih (施崇棠) said that Zenbo attracted a lot of attention from international visitors to the May 30-June 3 Computex Taipei 2017, one of the largest ICT exhibitions in the world.

Shih added that an executive from a Chinese high-tech heavyweight software developer spent more than an hour at Asustek’s display area checking out the Zenbo robot.

After the launch in China, Shih added, Asustek is also planning to sell robot Zenbo in the U.S. next year.    [FULL  STORY]

Aiming for Muslim market, Taiwan encourages Halal Certification

More and more Taiwan companies are applying for Halal Certification

Taiwan News
Date: 2017/06/07
By: Joy Chang, Taiwan News, Staff Writer

TAIPEI (Taiwan News)— With a growing population of over 200,000 Muslims, more

Muslims flood into Taipei Main Station for Eid al-Fitr

restaurants in Taiwan are applying for halal certification and the food industry is aiming for a larger market in both Taiwan and Southeast Asian countries.

According to the Taiwan External Trade Development Council (TAITRA), the global halal food market is worth US$900 trillion and many companies are hoping to cash in on the booming market.

TAITRA also said that they are currently helping local restaurants, including those who sell signature Taiwanese dishes such as beef noodles and fried chicken fillets, to apply for the halal certification.    [FULL  STORY]

Agricultural losses from recent rain estimated at over NT$200 million

Focus Taiwan
Date: 2017/06/07
By: Yang Shu-min and Elaine Hou

Taipei, June 7 (CNA) Agricultural losses in Taiwan from days of torrential rain recently have topped NT$200 million (US$6.63 million), the Council of Agriculture (COA) said in a revised estimate Wednesday.

The figure was revised from NT$160 million a day earlier, mainly due to new reports of erosion of farmland and damage to Kyoho grapes, according to the COA.

As of Wednesday, the agricultural losses and damage to farm facilities caused by the torrential rain last weekend was NT$212.14 million, the COA said.

Nantou County in central Taiwan suffered the heaviest losses of NT$67.62 million, or 32 percent of the total nationwide, it said.    [FULL  STORY]

MediaTek denies job cuts plan

SUIT THREATENED:The company said it would seek legal action if investors and the public were misled after a ‘Next Magazine’ report said that restructuring was planned

Taipei Times
Date: Jun 08, 2017
By: Lisa Wang / Staff reporter

MediaTek Inc (聯發科) yesterday rejected speculation that new co-chief executive officer Rick Tsai (蔡力行) is to trim about 20 percent of overall workforce within a year to accelerate restructuring efforts.

“The rumored elimination of 3,000 jobs is not true,” MediaTek spokesman David Ku (顧大為) said. “The company’s operations are normal.”

Similar speculation arose after MediaTek in March announced the hiring of Tsai, who has been known in the tech industry for job cuts and strict cost management.

He served as CEO of Taiwan Semiconductor Manufacturing Co (台積電) from 2005 to 2009, and chairman of Chunghwa Telecom Co (中華電信) from 2014 to last year.
[FULL  STORY]

Catcher shares soar on May sales, new iPhone hopes

The China Post
Date: June 6, 2017
By: Taipei, CNA

Shares of Taiwan-based metal casing supplier Catcher Technology Co. (可成) rose sharply Tuesday, outperforming the broader market, after the company reported on Monday an almost 20 percent month-on-month increase in sales for May.

As a supplier to Apple Inc., Catcher has been riding the wave of expectations that the U.S. electronics consumer giant will soon launch next generation iPhones, which would further boost Catcher’s shipments in the second half of the year, dealers said.

Shares of Catcher rose 4.42 percent to NT$354.00 (US$11.80) on the Taiwan Stock Exchange on Tuesday, where the weighted index ended down 0.20 percent at 10,206.18 after a lackluster performance on Wall Street overnight.

“Compared with other ‘Apple concept stocks,’ Catcher has been a laggard,” Hua Nan Securities analyst Kevin Su said. “Investors simply seized on its latest sales report as a reason for picking up the stock today.    [FULL  STORY]

TAITRA inks MOU with Singapore Institute of Building

Radio Taiwan International
Date: 2017-06-06

Taiwan’s external trade council, TAITRA, has signed a memorandum of understanding (MOU) with the Singapore Institute of Building.

TAITRA said Singapore’s government aims for 80% of buildings in the country to be green buildings by 2030. TAITRA says Singapore is a good market for products including green building materials, LED lighting, energy-saving products, smart water meters, and smart electric meters. The MOU is expected to help Taiwanese businesses make inroads into the market for environmentally friendly buildings.

TAITRA also hopes Taiwanese businesses will also be able to work with local businesses in third countries where Singapore has experience exporting its green building expertise.    [FULL  STORY]

Agricultural losses from heavy rain exceed NT$160 million (update)

Focus Taiwan
Date: 2017/06/06
By: Yang Shu-min and Christie Chen

Taipei, June 6 (CNA) Agricultural losses in Taiwan from days of torrential rain has

CNA file photo

reached NT$163.52 million (US$5.42 million), the Council of Agriculture (COA) said, citing estimates valid as of 5 p.m. on Tuesday.

Nantou County in central Taiwan suffered the heaviest losses at NT$40.30 million, or 25 percent of total national losses, the COA said.

Yunlin County reported NT$28.79 million in agricultural losses, followed by New Taipei City with NT$20.32 million, Taitung County with NT$16.74 million and Yilan County with NT$16.33 million, the COA said.

Crop damage accounted for most of the losses, with 4,136 hectares of farmland and NT$112.08 million worth of crops damaged, according to the COA.    [FULL  STORY]

FPG combined sales rise 4.1% annually

OPTIMISM:The group’s four main ubsidiaries provided generally positive business outlooks for the rest of the year, despite fluctuations in international crude oil prices

Taipei Times
Date: Jun 07, 2017
By: Kuo Chia-erh / Staff reporter

Formosa Plastics Group (FPG, 台塑集團), the nation’s largest industrial conglomerate, yesterday reported that combined sales at its four main subsidiaries last month increased 4.1 percent annually to NT$119.52 billion (US$3.97 billion), primarily due to rising customer demand.

The figure also translated into an 8 percent increase from NT$110.7 billion in April, filings with the Taiwan Stock Exchange showed.

Among the four units, Formosa Petrochemical Corp (台塑石化), the nation’s only listed oil refiner, led the increase with revenue of NT$50.39 billion last month, a 1.9 percent increase from a year earlier and a 19.2 percent increase from a month earlier.

“The performance was supported by higher production volume and rising oil prices last month,” Formosa Petrochemical president Tsao Minh (曹明) said at an earnings conference in Taipei.    [FULL  STORY]