Evergreen Group plans to invest NT$200 billion (US$5.9 billion) in the next 10 years on expansion and development, company chairman Chang Jung-fa (
The group plans to move its cargo terminal in northern Taiwan to Taipei port and the land freed up would be developed into a complex, housing its headquarters.
Evergreen said it would initially invest more than NT$10 billion in developing the complex.
The group will also set aside more than NT$100 billion to build 50 new cargo vessels in the next decade, with delivery starting in 2005, to meet projected demand.
Delivery of the ships is expected to be completed by 2013 -- or 2011 at the earliest.
In a speech given at National Taiwan Ocean University to mark the school's 50th anniversary, Chang predicted that barring any unexpected circumstances, the global economy will gradually rebound after 2005.
Based on an analysis of container cargo loads and his experience over the years, Chang said that the world economy will slowly regain strength after 2005.
Unless something out of the ordinary happens such as the United States-led military campaign against Iraq, or the Sept. 11, 2001 terrorist attacks against the United States, the world economy will be solid by 2015, he said.
During the one-hour speech, Chang said shipping exchanges will increase progress in civilization and technology development. Chinese are more aware of this than those on Taiwan, he said.
He lamented that though Taiwan calls itself an ocean country, it has no ocean policy.
He noted that China, after opening its markets, has seen its coastal cities such as Dalien, Shanghai and Guangdong enjoy rapid development, and the people there are even more affluent than people in Taiwan.
In contrast, the hinterlands of China, because of its lack of stimulus and trade exchanges with the outside world, is comparatively rather backwards, he said.
He said that shipping can be a gauge of the direction of economic development and cited the recent growth of cargo volume of container vessels as an example.
Meanwhile, EVA Airways Corp (
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
INFLATION CONSIDERATION: The BOJ governor said that it would ‘keep making appropriate decisions’ and would adjust depending on the economy and prices The Bank of Japan (BOJ) yesterday raised its benchmark interest rate to the highest in 30 years and said more increases are in the pipeline if conditions allow, in a sign of growing conviction that it can attain the stable inflation target it has pursued for more than a decade. Bank of Japan Governor Kazuo Ueda’s policy board increased the rate by 0.2 percentage points to 0.75 percent, in a unanimous decision, the bank said in a statement. The central bank cited the rising likelihood of its economic outlook being realized. The rate change was expected by all 50 economists surveyed by Bloomberg. The
RSS