Business and Finance

Taiwan’s Taichung and Japan’s Chubu airports sign Sister Airport Agreement

The government of Taichung is looking to promote the city as an international tourist destination

Taiwan News
Date: 2017/04/06
By: Wendy Lee , Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Taichung Airport has signed a “Sister Airport Agreement” with

(By Central News Agency)

Japan’s Chubu Centrair International Airport in Nagoya Thursday, with an aim to increase central Taiwan’s international visibility in tourism.

Taichung City Mayor Lin Chia-lung in his remarks at the signing ceremony said the agreement marks a significant milestone for Taichung Airport towards becoming an international airport and major tourism gateway to the region.

The government of Taichung is looking to promote the city as an international tourist destination, and the airport as the nation’s second budget airline hub after the Taiwan Taoyuan International Airport, the nation’s largest and busiest airport located in northern Taiwan.    [FULL  STORY]

Taiwan to invest US$140 million in smart machinery industry

Focus Taiwan
Date: 2017/04/06
By: Huang Ya-chuan and Lilian Wu

Taipei, April 6 (CNA) The Ministry of Economic Affairs is planning to spend NT$4.27

(Picture downloaded from Pixabay)

billion (US$140 million) this year promoting the smart machinery industry.

The ministry, in a report to the Executive Yuan on the progress of the program, said this year will focus on encouraging large enterprises to set up demonstration production lines that small and medium sized enterprises can learn from.

Once the industry is successful in Taiwan, the objective is to export production lines and whole plants to other countries, it said.

The ministry noted that Taiwan has a global niche in machine tools, but will now seek to integrate equipment, production lines, whole plants and add smart technology such as robots, big data and sensors, to promote smart machinery exports under the nation’s “New Southbound Policy.”    [FULL  STORY]

O-Bank outlines digital banking plan

BOUTIQUE LENDER:The Taipei-based bank, which is scheduled to list in May, said it has a low non-performing loan ratio and an above-industry average return on equity

Taipei Times
Date: Apr 07, 2017
By: Ted Chen / Staff reporter

O-Bank Co Ltd (王道商業銀行) yesterday outlined its plans to transform itself into a nimble and digitally focused boutique lender as it prepares for its initial public offering (IPO) next month.

The bank is scheduled to have its market debut on May 5 — the first bank listing in Taiwan in 13 years — with an eye to raising NT$225 million (US$7.4 million) in new funds, the bank said.

The company has positioned itself as an asset-light boutique bank that yields higher returns on equity compared with its larger domestic peers, O-Bank president C.Y. Yang (楊錦裕) said at an earnings conference in Taipei.    [FULL  STORY]

Applications for elevator installation subsidy in Taipei City open on April 5

Taiwan News
Date: 2017/04/05
By: George Liao, Taiwan News, Staff Writer

TAIPEI (Taiwan News)–Taipei City’s Urban Regeneration Office (URO) announced on

Apartments in Taipei City at least 20 years old and under six floors are eligible to apply, and the city will receive applications from April 5 to Dec

Wednesday that the city is now accepting subsidy applications for old buildings to install elevators in order to accommodate the needs of the elderly and the physically-challenged. The city will receive applications from April 5 to December 29, 2017, the URO said.

Who can apply for an elevator installment subsidy?

Apartments at least 20 years old and under six floors are eligible to apply, according to the URO.

How do I apply for an elevator installment subsidy?

An elevator installation permit issued by Construction Management Office and approval by all property owners of the condominium in question are required for the application, according to the office.    [FULL  STORY]

Data shows manufacturing, non-manufacturing activity expansion

Focus Taiwan
Date: 2017/04/05
By: Yu Hsiao-han and Evelyn Kao

Taipei, April 5 (CNA) Indicators relating to the overall economic condition of the

Photo courtesy of Chung-Hua Institution for Economic Research

manufacturing and non-manufacturing sectors in March both show expansion on the back of more work days in the month, the Chung-Hua Institution for Economic Research (CIER) said on Wednesday.

The local manufacturing sector’s purchasing managers’ index (PMI) for March rose 9.4 points from a month earlier to 65.2 percent, marking the 13th consecutive month of expansion, said the CIER, one of the country’s leading economic think tanks.

Meanwhile, the non-manufacturing index (NMI) rose 6.6 points to 55.1, reversing a contraction seen in the previous month.    [FULL  STORY]

Official PMI reaches highest figure

FIVE-YEAR RECORD:All PMI sectors saw increased business, with makers of electronic components and optical devices experiencing the fastest pace of growth, CIER said

Taipei Times
Date: Apr 06, 2017
By: Crystal Hsu / Staff reporter

Last month’s official manufacturing purchasing managers’ index (PMI) rose to 65.2, the highest figure since its inception in July 2012, benefitting from strong worldwide demand and February’s fewer working days which led to a low base, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.

“The latest PMI data reflected a solid increase in new business and production among local manufacturers,” CIER president Wu Chung-shu (吳中書) told a news conference in Taipei.

The economist shrugged off concerns raised by reporters that the nation’s economy might be overheating and in danger of crashing, saying that Taiwan remains on course for a stable and modest recovery.

The PMI, a gauge of the health of the manufacturing industry, also climbed to a record high last month and has posted 13 consecutive months of expansions.  [FULL  STORY]

UMC says some staff under investigation for leaking data to Chinese competitors

The China Post
Date: April 6, 2017
By: Christine Chou

Taiwan-based chipmaker United Microelectronics Corp. (UMC, 聯電) confirmed on Wednesday knowledge of staff having received legal notices, as media reports alleged legal actions were taken against over a hundred Taiwanese engineers to prevent key technology and business secrets from leaking to mainland Chinese rivals.

UMC said the legal action was taken against individuals only, stressing they had nothing to do with the company and that their dynamic random access memory (DRAM) chip development project will continue.

DRAM is a type of memory chip that is commonly used in smartphones.

According to recent reports, U.S. memory chipmaker Micron has been supporting government inspectors in legal efforts to combat mainland firms’ hiring drive, as China has been stepping up initiatives to grow a competitive semiconductor industry.
[FULL  STORY]

RT-Mart fined by judge for selling explosive Heran TVs

Hsinchu District judge in Taiwan rule RT-Mart is liable for selling explosive Heran TVs in 2015

Taiwan News
Date: 2017/04/04
By: Judy Lin, Taiwan News, Staff Writer

TAIPEI (Taiwan News)—Hsinchu District Court judges ruled recently that one of the

RT-Mart store in Neihu District in Taipei City, Taiwan.(By Wikimedia Commons)

nation’s largest retailers, RT-Mart (大潤發), and big Taiwanese TV manufacturer HERAN (禾聯) need to compensate a house owner surnamed Wei (魏) NT$529,525 (US$17,452) for damages incurred from an exploding TV made by HERAN, reported Apple Daily.

The house owner surnamed Wei demanded a total compensation of NT$1.08 million from the TV manufacturer HERAN, retailer RT-Mart and her tenant Huang.

RT-Mart objected the judge’s ruling, stating they should not be held responsible for the fire caused by HERAN’s hazardous TV.    [FULL  STORY]

Pingtung promotes farm produce in Oman

Focus Taiwan
Date: 2017/04/04
By: Chen Chao-fu, Kuo Chu-chen and Lilian Wu

Taipei, April 4 (CNA) A delegation led by Pingtung County Magistrate Pan Men-an (潘孟

(Photo courtesy of Pingtung County government)

安) introduced the southern county’s premium fruit and flowers at its first promotion in Oman Monday.

Pingtung County government, in a news release, quoted Pan as saying that the Persian Gulf countries have high consumption and mainly produce oil, relying on imports of agricultural products.

Pan noted that his county is an important production base in Taiwan for farm produce, marine products and flowers. It is also looking to become a supply base for countries in the Middle East and increase its share of the market for agriculture produce in the six-country Gulf Cooperation Council — Bahrain, Kuwait, Saudi Arabia, Oman, Qatar and the United Arab Emirates.

Pan displayed not only pineapples, red dragon fruit (pitaya), guavas and lemons, but also dancing lady orchids and vanda genus orchids.    [FULL  STORY]

Hon Hai’s FIH expecting losses

ACQUISITION WOES:The expected losses are due to the firm’s acquisition of Nokia’s assets from Microsoft for US$350 million, with costs to be booked in the second half

Taipei Times
Date: Apr 05, 2017
By: Staff writer, with CNA

FIH Mobile Ltd (富智康) yesterday issued a profit warning for the first half of the year in a statement filed with Hong Kong Exchanges and Clearing Ltd.

The Hon Hai Precision Industry Co (鴻海精密) subsidiary said it expected to post a net loss of less than US$110 million for the six-month period ending in June, as the acquisition of Nokia’s feature phone business weighed on its bottom line.

Joining forces with Finland-based HMD Global, the company in December last year completed a deal to acquire Nokia’s assets from Microsoft Corp for US$350 million.

The acquisition price was only a small fraction of the US$7.2 billion Microsoft paid for them in 2014.    [FULL STORY]