■ Taiwan not just a `springboard'
President Chen Shui-bian (陳水扁) said yesterday that Taiwan should not denigrate itself as just a "window" or "springboard" to the vast Chinese market. With its abundant manpower, manufacturing technology and copious foreign-exchange reserves, Taiwan has great potential to become an Asia-Pacific economic and trade hub and stronghold, Chen said. "Therefore, crafting a Taiwan-centered industrial development blueprint has been the government's top guiding principle in formulating economic policy," Chen said while inspecting an air cargo transshipment park near CKS Airport in Taoyuan County.
■ TSMC's factory use may drop
The factory use of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in the second quarter may be lower than the company's forecast owing to weaker demand, a Chinese-language newspaper reported, citing an unidentified company official. The second-quarter utilization rate of the world's largest supplier of made-to-order chips will probably be 78 percent against the rate of more than 80 percent projected by the company, the paper said, citing an unidentified investor. First-quarter utilization was at 78 percent. In a separate report, the newspaper said a plan by TSMC to allow the company's president to also serve as chief executive is triggering speculation the company is preparing for the retirement of chairman Morris Chang (張忠謀). Chang, 73, is also chief executive. Rick Tsai (蔡力行) is president of TSMC. The changes in the company's charter are expected to be made in a May 10 shareholders' meeting, the newspaper reported.
■ Energy venture launched
A Cabinet fund, a private bank and the Alaskan state government of the US will set up a US$200 million venture to jointly invest in energy companies in the Asia-Pacific region, a Chinese-language newspaper said, without saying where it obtained the information. The Cabinet's Development Fund (開發基金), the Industrial Bank of Taiwan (台灣工銀) and the Alaskan government will set up the venture to seek investment opportunities in Indonesia, Alaska and Canada, the newspaper reported yesterday.
■ State-run firms rack up profits
The seven state-run enterprises under the Ministry of Economic Affairs accumulated combined profits of NT$8.7 billion (US$254.63 million) in the first three months of this year, according to ministry statistics. The Taiwan Power Co (台電) and the Aerospace Industrial Development Corp (漢翔) were the only companies that did not show a profit. Among the profit-makers, Chinese Petroleum Corp (中油) led the pack with pre-tax profits of NT$8.02 billion, which is 62.76 percent of the whole-year profit forecast. Following far behind was the Tang Eng Iron Works Co (唐榮), which posted a pre-tax profit of NT$529 million, or 75.57 percent of its target profit for the whole year, and Taiwan Water Supply Corp (台灣自來水), with NT$269 million, Taiwan Sugar Corp (台糖), with NT$154 million, and China Shipbuilding Corp (中船), with NT$101 million. The performances of Taiwan Sugar Corp (台糖) and Taiwan Water Supply have been described as quite remarkable in light of the fact that they used to be loss-makers.
■ NT dollar strengthens
The New Taiwan dollar rose for the first day in four, strengthening NT$0.126 to close at NT$31.573, according to Taipei Forex Inc. Turnover was US$800 million, up from US$732 million the previous day.
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