Taishin Financial Holding Co (
Provision expenses at the holding firm's Taishin International Bank's (台新銀行) will rise in the first half of this year -- to about NT$1.5 billion per month -- but could drop to about NT$700 million monthly in the second half, according to Taishin Financial spokeswoman Carol Lai (賴昭吟).
According to Taishin Financial's chief risk officer James Lin (林景聰), spiraling bad consumer loans provide the company with an opportunity to strengthen its leading status amid heavy competition in the consumer banking segment, as smaller rivals will drop out of the market through the reshuffle.
Meanwhile, Taishin Financial said it may not pursue additional mergers this year after acquiring a 22.5 percent stake in state-controlled Chang Hwa Bank (彰化銀行) last year.
The company will not need to increase its shareholdings to a 25 percent stake before including Chang Hwa as a subsidiary, as it controls half of the bank's board, Taishin Financial president Julius Chen (
The acquisition boosted Taishin Financial to the position of the nation's No. 2 financial services provider, up from the eighth place, with assets of NT$2.38 trillion as of the end of last year, , according to figures from the Banking Bureau.
Cathay Financial Holding Co (國泰金控), with assets of NT$3.06 trillion, remains in first place, according to Banking Bureau figures.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six