The Taiwan High Speed Rail Corp (THSRC, 台灣高鐵) said yesterday it will pay Eurotrain US$65 million in compensation for dumping the consortium and choosing a Japanese consortium to build Taiwan's high-speed rail system. \nTHSRC posted the settlement agreement on the Taiwan Stock Market online bulletin board. \n"Following arbitration by an international arbitration court, THSRC agrees to pay US$65 million to Eurotrain, which -- plus interest -- totals US$89 million," the document said. \nTHSRC's press office said the arbitration was made on March 5 by an international arbitration court in Singapore. \nCompared with an arbitration ruled by the International Chamber of Commerce (ICC) early this year, the new settlement saves THSRC US$24 million, according to THSRC. Eurotrain filed for arbitration with the ICC in 2001. \nThe ICC issued an arbitration award on March 15, 2004, wherein THSRC was ordered to pay US$73.04 million in damages and interest to Eurotrain. \nEurotrain -- a consortium led by Germany's Siemens AG and France's Alsthom -- claims THSRC gave it priority negotiating rights for building Taiwan's first high-speed rail in 1997, but awarded the US$14-billion-contract to a Japanese consortium in 1999. But THSRC denied there was any contract. \nThe 345km railway linking Taipei to Kaohsiung is scheduled to start operating in October next year. \nThere were rumors that THSRC favored Japan's Shinkansen system over Eurotrain because former president Lee Teng-hui (李登輝) wanted to forge closer ties with Japan, but THSRC denied there were political considerations.
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and shelf labels, posted its best quarterly net profit for the first quarter in nine years amid increased demand during a traditionally slow season. Net profit soared 80 percent to NT$787 million (US$26.23 million) in the quarter ended March 31, compared with NT$438 million a year earlier. That translated into earnings per share of NT$0.69, up from NT$0.39. E Ink posted lower royalty income of NT$371.23 million last quarter from NT$448.74 million a year earlier, a company financial statement showed. E Ink said that it expects royalty income to
The latest US government action against Huawei Technologies Co (華為) takes direct aim the company’s HiSilicon (海思) chip division — a business that in over the past few years has become central to China’s ambitions in semiconductor technology, but is now to lose access to tools that are central to its success. That could make it the most damaging measure by the US yet against a Chinese company. On Wednesday, US officials told reporters that the Huawei’s chip division functioned as a “tool of strategic influence” for the Chinese Communist Party. Huawei, for its part, denounced the US allegations and called the