Taishin Investment Trust Co (
"Business ties will eventually be separated," Wu said yesterday as he spoke to the media for the first time since a shareholding fight with his elder brother Thomas Wu (
Eric Wu is sure to take over control of Shinkong Synthetic Fibers Corp (
In return, Thomas Wu won full family support to be re-elected as chairman of the financial-service company earlier this month.
As part of the agreement, Taishin Financial is expected to release its 45 percent stake in Taishin Investment Trust, which was established in June, within the next three years.
Eric Wu said that he may buy back the stake if the price is right.
The remaining 55 percent stake is owned by several family-owned subsidiaries.
Eric Wu also said the trust company is working on two acquisition deals, one of which is slated to be closed by year's end, although he would not elaborate.
When asked if he is interested in forming a financial-services company, he gave a resounding "No."
But he said that he hasn't ruled out the possibility of merging with other, bigger financial holding companies such as Shinkong Financial Holding Co (
Eric Wu refused to say whether the family-run businesses have officially been split between the four brothers, though he did say that "the to-be-held family meeting will be part of an ongoing process."
Meanwhile, Taishin Investment Trust yesterday celebrated its success in sales of two fund products and boasted that its fund size is nearing NT$10 billion.
Company's president Charles Shen (
With an approval rating of just two percent, Peruvian President Dina Boluarte might be the world’s most unpopular leader, according to pollsters. Protests greeted her rise to power 29 months ago, and have marked her entire term — joined by assorted scandals, investigations, controversies and a surge in gang violence. The 63-year-old is the target of a dozen probes, including for her alleged failure to declare gifts of luxury jewels and watches, a scandal inevitably dubbed “Rolexgate.” She is also under the microscope for a two-week undeclared absence for nose surgery — which she insists was medical, not cosmetic — and is
CAUTIOUS RECOVERY: While the manufacturing sector returned to growth amid the US-China trade truce, firms remain wary as uncertainty clouds the outlook, the CIER said The local manufacturing sector returned to expansion last month, as the official purchasing managers’ index (PMI) rose 2.1 points to 51.0, driven by a temporary easing in US-China trade tensions, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI gauges the health of the manufacturing industry, with readings above 50 indicating expansion and those below 50 signaling contraction. “Firms are not as pessimistic as they were in April, but they remain far from optimistic,” CIER president Lien Hsien-ming (連賢明) said at a news conference. The full impact of US tariff decisions is unlikely to become clear until later this month
GROWING CONCERN: Some senior Trump administration officials opposed the UAE expansion over fears that another TSMC project could jeopardize its US investment Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating building an advanced production facility in the United Arab Emirates (UAE) and has discussed the possibility with officials in US President Donald Trump’s administration, people familiar with the matter said, in a potentially major bet on the Middle East that would only come to fruition with Washington’s approval. The company has had multiple meetings in the past few months with US Special Envoy to the Middle East Steve Witkoff and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. The conversations are a continuation of talks that
CHIP DUTIES: TSMC said it voiced its concerns to Washington about tariffs, telling the US commerce department that it wants ‘fair treatment’ to protect its competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reiterated robust business prospects for this year as strong artificial intelligence (AI) chip demand from Nvidia Corp and other customers would absorb the impacts of US tariffs. “The impact of tariffs would be indirect, as the custom tax is the importers’ responsibility, not the exporters,” TSMC chairman and chief executive officer C.C. Wei (魏哲家) said at the chipmaker’s annual shareholders’ meeting in Hsinchu City. TSMC’s business could be affected if people become reluctant to buy electronics due to inflated prices, Wei said. In addition, the chipmaker has voiced its concern to the US Department of Commerce
RSS