Business and Finance

FPG naphtha cracker expansion still on

UNDAUNTED:The expansion would help reduce carbon emissions and improve industrial safety by eliminating aging facilities, a Formosa Plastics Group official said

Taipei Times
Date: Mar 17, 2017
By: Kuo Chia-erh / Staff reporter

Formosa Plastics Group (FPG, 台塑集團) yesterday said it does not plan to halt expansion of the nation’s sixth naphtha cracker in Yunlin County’s Mailiao Township (麥寮) after the Environmental Protection Administration (EPA) told the group to resubmit its environmental impact assessment (EIA) report.

“We hope to get the permits as soon as possible, because the expansion would help reduce emissions and ensure industrial safety by eliminating outdated facilities,” group vice president Lin Sang-chi (林善志) said by telephone.

Lin’s remarks came after the EPA on Wednesday rejected the group’s original report, saying it must include more detailed information on emissions reductions and potential health risks for evaluation.

Formosa Plastics Group, the nation’s biggest industrial conglomerate, has long been criticized for causing health problem risks in Yunlin because of its naphtha cracker.
[FULL  STORY]

Citi credit cards can now link with your EasyCard

The China Post
Date: March 17, 2017
By: The China Post news staff

TAIPEI, Taiwan — Citibank Taiwan announced Thursday that EasyCards can now be

Paulus Mok, Citi country officer for Taiwan, center, and Yunny Lee, Citibank Taiwan business manager of global consumer banking, second left, pose with other guests at an event in Taipei on Thursday, March 16 announcing that EasyCards can now be linked with Citi credit cards. (Courtesy of Citibank)

linked to all Citi credit cards.

The bank has also taken the lead in rewards redemption, with cardholders able to accumulate reward points even faster as their metro cards are automatically recharged from their nominated Citi credit cards.

In addition, Citibank will launch a new rewards redemption platform — Citi ThankYou Rewards — in April for its cardmembers in Taiwan. Through the simple user-friendly interface of the platform, Citi cardholders can redeem points for a wide range of selected items and services, including discounts on card payments, charitable donations, e-vouchers and hotel accommodation, as well as more than 60 airline ticket choices.

Citibank creates remarkable customer experience with greater rewards accumulation and redemption.    [FULL  STORY]

Cathay revises forecast for Taiwan’s GDP

CASH HORDE:Retirees, businesses and consumers are not spending as public sector pension reform debates continue, which is effecting the nation’s economic outlook

Taipei Times
Date: Mar 16, 2017
By: Ted Chen / Staff reporter

Cathay Financial Holding Co (國泰金控) yesterday raised its GDP growth forecast for Taiwan this year from 1.5 percent to 2.1 percent on the back of improving external conditions.

Since the beginning of this year, the US, China and Europe have exhibited faster-than-expected economic growth, leading to stronger external demand that would boost the nation’s export-oriented economy, with gains led by local technology and electronics suppliers, researchers said.

However, National Central University economics professor Hsu Chih-chiang (徐之強), who led the research team, said Taiwan’s economy still lacks internal catalysts.
[FULL  STORY]

Smart City Expo to be more comprehensive next year: organizers

Focus Taiwan
Date: 2017/03/15
By: Chung Jung-feng and Ko Lin

Taipei, March 15 (CNA) Taiwan aims to turn the annual Smart City Summit and Expo

(CNA file photo)

into the world’s most comprehensive trade platform next year, organizers said Wednesday.

The 2018 event will bring together more international city officials, including mayors, to share their experiences in the area of smart city development, the organizers said.

According to the Taipei Computer Association (TCA), this year’s event, which ran from Feb. 21-24, had 54 international city officials from 29 countries, the largest number of participants since the event was initiated in 2014.

Smart cities are a crucial field for the application of the Internet-of-Things (IoT), which in turn is vital to the realization of intelligent communities, the TCA said.
[FULL  STORY]

Innolux president Wang stepping down

SCUTTLEBUTT:Wang Jyh-chao is likely to be involved in managing allocation relations between Innolux and Sharp, or with marketing Sharp TVs in China, an analyst said

Taipei Times
Date: Mar 16, 2017
By: Lisa Wang / Staff reporter

Innolux Corp (群創) yesterday said company president Wang Jyh-chao (王志超) is to step down from his post, amid speculation that he is to play a greater role in parent company Hon Hai Precision Industry Co’s (鴻海精密) latest push into LCD panel manufacturing in China.

As part of Innolux’s management shuffle, the board of directors yesterday also approved the promotion of executive vice president Robert Shiao (蕭志弘) to succeed Wang.

Wang is to stay on as chairman, while Shiao will work as chief operating officer to help Innolux accelerate its global expansion, the Miaoli-based flat-panel maker said in a statement.

The personnel adjustment was to bolster the firm’s corporate governance practices, as well as cope with expansion of Hon Hai Technology Group (鴻海集團), according to the statement.    [FULL  STORY]

TSMC says aiming to reuse 61% of in-factory waste by 2020

The China Post
Date: March 15, 2017
By: Kuan-lin Liu, The China Post with cnYES

TAIPEI, Taiwan — The world’s largest contract chip maker Taiwan Semiconductor

In this May 10, 2007 file photo, a woman walks past a logo of the TSMC, Taiwan Semiconductor Manufacturing Co., the world’s largest custom chip maker, during the semi-tech show in Taipei. (AFP)

Manufacturing Company (TSMC) reiterated its commitment to the environment on Tuesday with a promise to increase the percentage of industrial waste it reuses in its factories.

TSMC’s Senior Director Arthur Chuang (莊子壽) announced the company’s goal to increase the percentage of in-factory waste it reuses from 15 percent in 2015 to 61 percent by 2020.

The company, which has a history of recycling, said every drop of water was reused 3.5 times in TSMC back in 2015.

For this new 2020 goal, waste to be reused at an increasing amount are sulfuric acid, ammonium sulfate, water and copper extractions.

According to Chuang, increasing the recycling of waste is better for the circular economy, promoting greater resource productivity with the target of reducing waste and avoiding pollution.    [FULL  STORY]

Banner year for 7-Eleven’s parent company

The China Post
Date: March 15, 2017
By: The China Post news staff

TAIPEI, Taiwan — President Chain Store Corporation reported historic highs in both revenues and profits for 2016 during an afternoon press gathering on Tuesday.

President Ray Chen (陳瑞堂) stated that the corporation grossed a total revenue of NT$215.36 billion and an after-tax profit of NT$9.84 billion last year, marking a 4.8 percent and a 19.4 percent increase, respectively, from 2015.

The good performance, according to company representatives, is due to a combination of both business expansions into life appliances, transportation, and books as well as the opening of 7-Elevens overseas in the Philippines and Shanghai.

On top of good financial management, President Chain Store Corporation was included in the global FTSE4Good Index series for the first time in the corporation’s history, an index that measures the performance of companies demonstrating strong environmental, social and governance practices.    [FULL  STORY]

Chunghwa Post to raise domestic rates for first time in 26 years

Focus Taiwan
Date: 2017/03/14
By: Chen Wei-ting and Elizabeth Hsu

Taipei, March 14 (CNA) Chunghwa Post Co., Taiwan’s official postal service, said

CNA file photo

Tuesday that it plans to raise the rates for domestic mail, which have been at the same level for the past 26 years.

The domestic postage for ordinary mail will be increased from NT$5 (US$0.16) to NT$8, “at an appropriate time,” pending approval by the Ministry of Transportation and Communications, the state-run company said.

The basic rate for domestic registered mail will also be raised, from NT$20 to NT$30, the company said.

It said the increases have become necessary because it has been reporting losses of nearly NT$3 billion annually over the past three years.    [FULL  STORY]

Pegatron expects revenue to increase

AWAITING LAUNCHES:CEO S.J. Liao said a slow season would improve in the second half, when communications and consumer electronics clients launch new products

Taipei Times
Date: Mar 15, 2017
By: Lauly Li / Staff reporter

Pegatron Corp (和碩), one of Apple Inc’s iPhone assemblers, yesterday said that its revenue would climb by between 5 and 10 percent annually this year supported by rising orders from its communication, consumer electronics and computing products.

“We are cautiously optimistic about Pegatron’s operations this year. The communications department is to introduce a product that has significant changes in details, which we believe it will not let consumers down,” Pegatron chief executive officer S.J. Liao (廖賜政) told an investors’ conference at the company’s headquarters in Taipei.

Pegatron’s communications department, which includes smartphone assembling and networking products, contributed 72 percent of overall revenue of NT$360.48 billion (US$11.64 billion) last quarter, company data showed.

The department’s largest client is Apple, which is expected to launch its next-generation iPhone this year to celebrate the 10th anniversary of the device’s launch.
[FULL  STORY]

TSMC says aiming to reuse 61% of in-factory waste by 2020

The China Post
Date: March 15, 2017
By: Kuan-lin Liu, The China Post with cnYES

TAIPEI, Taiwan — The world’s largest contract chip maker Taiwan Semiconductor

In this May 10, 2007 file photo, a woman walks past a logo of the TSMC, Taiwan Semiconductor Manufacturing Co., the world’s largest custom chip maker, during the semi-tech show in Taipei. (AFP)

Manufacturing Company (TSMC) reiterated its commitment to the environment on Tuesday with a promise to increase the percentage of industrial waste it reuses in its factories.

TSMC’s Senior Director Arthur Chuang (莊子壽) announced the company’s goal to increase the percentage of in-factory waste it reuses from 15 percent in 2015 to 61 percent by 2020.

The company, which has a history of recycling, said every drop of water was reused 3.5 times in TSMC back in 2015.

For this new 2020 goal, waste to be reused at an increasing amount are sulfuric acid, ammonium sulfate, water and copper extractions.

According to Chuang, increasing the recycling of waste is better for the circular economy, promoting greater resource productivity with the target of reducing waste and avoiding pollution.    [FULL  STORY]