Stressing that privatization of state-run enterprises is an international trend, Ray Dawn (
"I don't think the government should run any business. The state should exit from the market so that [state-owned] companies can better compete with their private rivals," he said at a ceremony during which he took over leadership of the company from Morgan Hwang (
Hwang will assume the chairmanship of the state-owned Taiwan Power Co (Taipower, 台電) next week.
During his 989-day tenure at TTL, Hwang injected his marketing expertise into the century-old company and successfully led it to retake its market share at a time when foreign imports were threatening TTL's leading position.
TTL posted NT$8.65 billion (US$280 million) in pre-tax income last year, up from NT$8.54 billion in 2003.
However, the privatization process has been thwarted by union objections.
The company's labor union is pleading with lawmakers to ensure that the 7,000 employees will be able to keep their jobs.
According to the Ministry of Finance's timetable, TTL should have been privatized last year.
Dawn, 47, a former director of Kaohsiung City's Bureau of Finance, said that the key to privatization was engaging in comprehensive communication with labor representatives, in addition ot devising complementary measures to offset the possible impact on employees.
"The interests of our customers, employees and shareholders must be safeguarded during the privatization process," he said.
In response to demands from anti-tobacco groups that TTL rename its leading cigarette brand, "Long Life" (
As Long Life is a well-known brand name that has been popular for more than a decade, further discussion is needed to decide whether it should be given up, Dawn said.
Chan Shih-chu (
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS