Advanced Semiconductor Engine-ering Inc (日月光), the world's top chip tester and packager, said yesterday that the company has reached an insurance compensation agreement with its insurers after almost a year of negotiations.
The company said that a group of nine insurance companies agreed to pay the compensation, totalling about NT$8.068 billion (US$247.1 million), to help the company cover damage from a fire that broke out on May 1 at a plant in Jhongli (中壢), Taoyuan County of northern Taiwan, where the company packaged chips and manufactured IC substrates.
The plant accounted for an estimated 10 percent of the company's total production capacity, the company said in August last year. That fire also raised the company's total capital expenses last year by US$50 million to US$300 million, it said at the time.
The nine insurers led by Zurich Insurance (Taiwan) Ltd paid NT$2.3 billion last October as an advance compensation, the insurance company said in a statement yesterday.
Therefore, the insurers would now pay the remaining NT$5.768 billion compensation, the statement read. Other insurers include Fubon Insurance Co (富邦產險) and Cathay Century Insurance Co (國泰世紀產險).
Advanced Semiconductor said it expects to book NT$3.4 billion in compensation as income in this quarter, the company said yesterday.
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
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
MAJOR BENEFICIARY: The company benefits from TSMC’s advanced packaging scarcity, given robust demand for Nvidia AI chips, analysts said ASE Technology Holding Co (ASE, 日月光投控), the world’s biggest chip packaging and testing service provider, yesterday said it is raising its equipment capital expenditure budget by 10 percent this year to expand leading-edge and advanced packing and testing capacity amid strong artificial intelligence (AI) and high-performance computing chip demand. This is on top of the 40 to 50 percent annual increase in its capital spending budget to more than the US$1.7 billion to announced in February. About half of the equipment capital expenditure would be spent on leading-edge and advanced packaging and testing technology, the company said. ASE is considered by analysts