Bank of Taiwan hikes rates \n \nThe Bank of Taiwan (台灣銀行) decided yesterday to raise its interest rates by between 0.05 percentage points and 0.075 percentage points, lifting its floating and fixed interest rates for one-year time deposits to 1.59 percent and 1.62 percent respectively, following the central bank's rate hikes yesterday. \nThe bank of Taiwan's decision will take effect next Monday. \nOther state-run banks, such as First Commercial Bank (第銀行), Chang Hwa Commercial Bank (彰化銀行), the Land Bank of Taiwan (土地銀行), Taiwan Cooperative Bank (合作金庫) and Hua Nan Commercial Bank (華南銀行), have not decided whether to follow suit for the time being. \nConsumers more dissatisfied \n \nThe non-profit Consumers' Foundation (消基會) reported yesterday that, as of Dec. 28, the organization received 53,858 complaints from the public during the year. Cases were filed through telephone calls, in written form or through consultations with its volunteer lawyers. \nBy including complaints made over the phone, the figure increased sixfold from the 8,149 cases recorded in 2003. \nThe top five areas with the most public dissatisfaction are: telecommunications, cosmetics, banking services, insurance and leisure activities, according to the foundation. \nBusiness compensations or refunds it helped consumers to obtain last year surpassed NT$67 million (US$2 million). \nTo serve more people, starting today it offers free services when consumers file complaints with the foundation. It used to charge basic handling fees to support the organization's operation. \nTobacco and Liquor privatizes \n \nThe state-owned Taiwan Tobacco and Liquor Corp (台灣菸酒公司) plans to release 51 percent of its shares to the public in three stages this year, in an effort to finalize privatization by the year-end as scheduled, the company's chairman Morgan Hwang (黃營杉) said yesterday. \nThe company will first release 15 percent of stakes in June, and another 31 percent and 5 percent in September and November respectively. \nThe firm's privatization scheme has been submitted to the Ministry of Finance and directed to the Executive Yuan for examination. The Cabinet is expected to approve the scheme by Jan. 13, Huang said. \nThe company is slated to transform into a publicly traded firm on Jan. 11 and to lodge its application for initial public offering in March, according to the plan. \nForeign firms pay better \n \nMore than 96 percent of foreign enterprises in Taiwan hand out year-end bonuses equivalent to 2.78 times the usual monthly salary on average, according to a survey released by the human resource agency 1111 Job Bank (1111人力銀行) yesterday. \nAlthough these enterprises give an impression of rewarding employees with better pay and benefits packages, 93 percent of the 1,316 respondents polled said they plan to change jobs soon. \nThe survey showed that Japanese information-technology companies and mass media outlets topped the list by giving out four-month bonuses. American info-tech businesses will give less than two-month bonuses. \nChinatrust leaves Paraguay \n \nChinatrust Commercial Bank (中國信託) of Taiwan has announced it is pulling out of Paraguay, and gave accountholders until Jan. 15 to withdraw their funds. \nHansjorg Brehm, the bank's director general, said that the bank had decided on an orderly pullout from the South American nation. Brehm did not give a reason for the end of operations here.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted monthly revenue that suggested second-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the COVID-19 pandemic and US sanctions on its second-biggest customer Huawei Technologies Co (華為). Apple Inc’s main iPhone chipmaker posted sales of NT$120.88 billion (US$4.08 billion) for last month, up 40.8 percent year-on-year and bringing its revenue for the second quarter to NT$310.7 billion, beating the NT$308.8 billion analysts expected on average. TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its revenue outlook for this
‘POSITIVE EFFECT’: Phison this year began shipping SSDs to Japan’s largest pachinko maker, which uses the components in its machines featuring high-resolution graphics Phison Electronics Corp (群聯電子), a designer of NAND flash memory controllers and modules, yesterday reported that revenue last quarter grew 11 percent from a year earlier on the back of new orders from Japan’s largest pachinko maker. Revenue last quarter expanded to NT$10.86 billion (US$366.82 million) from NT$9.79 billion a year earlier, Phison said. However, on a quarterly basis, revenue slumped 15.62 percent from NT$12.87 billion, it said. The Miaoli-based company said that it is benefiting from growing demand for solid-state drives (SSDs) used in devices beyond computers, which is stimulating growth for the NAND flash memory industry. Pachinko machines are one