The shelved merger case involving the Bank of Taiwan (
The finance ministry has planned to merge the three banks, which have yet to become incorporated, since the end of 1999. Such a merger would make it the 75th largest bank in the world, based on total assets.
Strong opposition by the three banks' employees coupled with a feasibility report on the merger produced last June has slowed the process. The report said the banks should be incorporated prior to the merger.
The ministry has also been encouraging a merger between 12 state-controlled banks. However, because most the 12 have been privatized, with some even becoming listed, such a merge has proven to be too difficult to carry out.
Ministry officials say that since the three state-owned banks's shares are completely owned by the government, share-swapping problems in the event of a merger would arise.
After the holding law is passed, the ministry could set up a financial holding company to oversee the merger, or it could even transform one the three banks into a holding company and then combine the various business sections under the holding company.
Officials believe that the businesses of three banks are somewhat complementary.
The Bank of Taiwan, for example, is more inclined toward commercial banking. Meanwhile, the Land Bank is concentrated on real-estate services and the Central Trust of China has a wide range of banking services.
Vice Premier Lai In-jau (
Because various government ministries have been unable to agree on the draft, only four articles out of a total of 61 have been completed. Lai has asked minister without portfolio Chung Ching (鍾琴), who is supposed to be in charge of the draft review, to complete the process within one month. The draft will then be submitted to the Legislative Yuan.
Minister of Finance Yen Ching-chang (
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”