Taiwan Mobile Co (台灣大哥大), the nation's third-largest mobile operator, projected yesterday that third-quarter pre-tax profits would grow 17.4 percent at a quarterly rate to NT$5.67 billion (US$173.1 million) due to an increase in subscribers and gains from asset sales.
Net income would also increase to NT$1.03 per share from NT$0.93 in the second quarter, according to a statement filed to the Taiwan Stock Exchange.
According to the statement, Taiwan Mobile plans to sell 100 million shares in rival Chunghwa Telecom (
The company generated NT$485 million by selling Chunhgwa Telecom shares on the local stock market earlier this month.
Revenues would also expand nearly 4 percent to NT$12.51 billion during this quarter from last quarter, according to the statement.
On the local bourse, Taiwan Mobile shares dropped 0.33 percent to NT$29.9 yesterday.
Separately, Daniel Tsai (
Under this law, the chairpersons and presidents of financial holding firms cannot serve simultaneously as chairpersons or presidents of non-financial businesses. The regulation took effect on Jan. 1, but company chiefs are allowed to finish their current tenures.
In the statement, the telecommunications firm said it held a meeting yesterday and elected Richard Tsai (蔡明興), vice chairman of Fubon Financial and Daniel Tsai's younger brother, as its new chairman.
The board elected Daniel Tsai as its new vice chairman, according to the statement.
Daniel Tsai was not the only business heavyweight whose position as chairman of both a financial holding company and a non-financial enterprise contravened the new law.
While those affected have been given a grace period of up to three years to comply, critics have argued that the new requirement will only lead to a phenomenon of "figurehead" chairpersons being installed at the helm of family-run businesses.
Among those affected by the new legislation are Eugene Wu (吳東進), who heads both Shin Kong Financial Holding Co (新光金控) and Great Taipei Gas Corp (大台北瓦斯); Jeffrey Koo (辜濂松), who chairs Chinatrust Financial Holding Co (中信金控) and four non-financial businesses; and Lin Ming-cheng (林明成), who leads Hua Nan Financial Holding Co (華南金控) and four non-financial entities.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, booked its first-ever profit from its Arizona subsidiary in the first half of this year, four years after operations began, a company financial statement showed. Wholly owned by TSMC, the Arizona unit contributed NT$4.52 billion (US$150.1 million) in net profit, compared with a loss of NT$4.34 billion a year earlier, the statement showed. The company attributed the turnaround to strong market demand and high factory utilization. The Arizona unit counts Apple Inc, Nvidia Corp and Advanced Micro Devices Inc among its major customers. The firm’s first fab in Arizona began high-volume production
VOTE OF CONFIDENCE: The Japanese company is adding Intel to an investment portfolio that includes artificial intelligence linchpins Nvidia Corp and TSMC Softbank Group Corp agreed to buy US$2 billion of Intel Corp stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions. The Japanese company, which is adding Intel to an investment portfolio that includes artificial intelligence (AI) linchpins Nvidia Corp and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), is to pay US$23 a share — a small discount to Intel’s last close. Shares of the US chipmaker, which would issue new stock to Softbank, surged more than 5 percent in after-hours trading. Softbank’s stock fell as much as 5.4 percent on Tuesday in Tokyo, its
COLLABORATION: Softbank would supply manufacturing gear to the factory, and a joint venture would make AI data center equipment, Young Liu said Hon Hai Precision Industry Co (鴻海精密) would operate a US factory owned by Softbank Group Corp, setting up what is in the running to be the first manufacturing site in the Japanese company’s US$500 billion Stargate venture with OpenAI and Oracle Corp. Softbank is acquiring Hon Hai’s electric-vehicle plant in Ohio, but the Taiwanese company would continue to run the complex after turning it into an artificial intelligence (AI) server production plant, Hon Hai chairman Young Liu (劉揚偉) said yesterday. Softbank would supply manufacturing gear to the factory, and a joint venture between the two companies would make AI data
The Taiwan Automation Intelligence and Robot Show, which is to be held from Wednesday to Saturday at the Taipei Nangang Exhibition Center, would showcase the latest in artificial intelligence (AI)-driven robotics and automation technologies, the organizer said yesterday. The event would highlight applications in smart manufacturing, as well as information and communications technology, the Taiwan Automation Intelligence and Robotics Association said. More than 1,000 companies are to display innovations in semiconductors, electromechanics, industrial automation and intelligent manufacturing, it said in a news release. Visitors can explore automated guided vehicles, 3D machine vision systems and AI-powered applications at the show, along
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