■ Optoelectronics value up \nThe output value of the nation's optoelectronics industry will hit NT$1.02 trillion this year, a 38 percent jump from last year, the Opto-Electronics and Systems (OES) Laboratories of the semi-official Industrial Technology Research Institute (ITRI, 工研院) said during a press conference yesterday in Tainan. \nThe OES Lab further predicted that the figure will keep climbing to NT$1.25 trillion next year and NT$1.62 trillion in 2006. \nCurrently, the optoelectronics industry focuses on exploiting the business potential of liquid crystal displays, while the demand for optical storage will gradually rise and become another promising sector that enjoys production value of over NT$1 trillion by 2008, the institute said. \nThe OES Lab made the forecast yesterday at the Southern Taiwan Science Park's incubator center in which it unveiled 20 different advanced technologies, such as those used in the inkjet printing process, that the OES Lab has developed in recent years. \n■ New adviser for brokerage \nPresident Securities Corp (統一證券), a brokerage controlled by the nation's largest food company, said it hired Pricewaterhouse Coopers International Ltd to advise on strategy, such as mergers and acquisitions, signaling a change in its expansion plans. \nPresident Securities, a Taipei-based company controlled by Uni-President Enterprises Corp (統一企業), in November had ruled out acquisition targets and looking for a bigger rival for a takeover. \nChinatrust Financial Holding Co (中信金控), Yuanta Core Pacific Securities Co (元大京華證券) and Cathay Financial Holding Co (國泰金控) hope to acquire President Securities, a Chinese-language newspaper reported yesterday. \n■ Knowledge sector growing \nThe country is making strides as a knowledge-based economy with output of knowledge-intensive industries already contributing 29 percent of the country's GDP, Ministry of Economic Affairs officials said yesterday. \nThe officials were citing a report released by the Taiwan Institute of Economic Research on Taiwan's global competitiveness in research and innovation. \nWhile the nation's total investment in research and development amounted to 2.3 percent of GDP in 2002, which was the world's 11th-highest, the contribution of knowledge-intensive industries to GDP was 29 percent in 2002, following closely after Luxembourg, Switzerland, Germany and the US, according to the report. \nIn 2002, the investment by the information technology sector alone amounted to 22.2 percent of the total, compared with 18.2 percent in 2001, the report says. \n■ Taiwan to sell Trust stake \nThe government plans to start selling a 25 percent stake in state-owned Central Trust of China (中央信託局) next year, a Chinese-language newspaper reported, citing the bank's Chairman Shea Jia-dong (許嘉棟). \nShea also said a number of issues must be resolved before Central Trust's proposed merger with Land Bank of Taiwan (土地銀行) can proceed, the newspaper said. \nThese include how to deal with Central Trust's non-financial operations, the report said. Land Bank approved the merger plan in early March. \nCentral Trust, in addition to banking and insurance, is also involved in trade and warehousing. The lender is currently 100 percent owned by the government. \n■ NT dollar slightly up \nThe New Taiwan dollar yesterday maintained strength against its US counterpart, advancing NT$0.009 to close at NT$34.179 on the Taipei foreign exchange market. \nTurnover was US$464 million.
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB
Nintendo Co is raising its target for Switch production to about 25 million units this fiscal year, people familiar with the matter said, as the ongoing COVID-19 pandemic keeps lifting demand and component shortages ease. The Kyoto, Japan-based company, which in April hiked orders to 22 million units by March next year, is asking partners to tack on another few million units, said the people, who did not want to be identified discussing internal goals. Assembly partners plan to work at maximum capacity through December. The new production target suggests that Nintendo is likely to outperform its Switch sales forecast of 19 million
NERVOUS MARKET: With the infection sources still unknown for three COVID-19 cases that had departed Taiwan, investors have become uneasy, an analyst said Local shares yesterday came under heavy downward pressure, falling more than 1 percent as renewed fears over a possible increase in domestic COVID-19 infections hit market sentiment after the nation last week reported a case related to a Belgian national. Selling focused on the bellwether electronics sector, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which pushed down the broader market as investors ignored gains posted by tech heavyweights on the US market at the end of last week, dealers said. The TAIEX closed down 151.77 points, or 1.2 percent, at 12,513.03, on turnover of NT$231.43 billion (US$7.84 billion). Foreign