■ SST to license SuperFlash
Silicon Storage Technology Inc (SST), a flash memory maker based in Sunnyvale, California, and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) announced on Monday the two companies have signed a new technology development and licensing agreement that will offer the first licensable 90-nanometer embedded flash technology, according to a statement released by SST.
Under the terms of the agreement, TSMC will license SST's next-generation 90-nanometer SuperFlash technology as part of TSMC's embedded flash memory portfolio.
■ Shin Kong posts earnings
The board of Shin Kong Financial Holding Co (新光金控) approved its financial reports that showed earnings of NT$6.08 billion (US$185.59 million), or NT$1.4 per share, and total asserts worth NT$1.39 billion in the period of January through June of this year, the company said yesterday.
For the first seven months of this year, Shin Kong Financial posted net profits of NT$6.65 billion, or NT$1.53 per share, mainly contributed by flagship unit Shin Kong Life Insurance Co (新光人壽), one of Taiwan's top-three life insurers. Shin Kong Life had net profits of NT$9.06 billion, or NT$4.1 per share, the company said.
On Friday, Shin Kong Financial will receive a NT$7 billion investment from partner Dai-ichi Mutual Life Insurance Co, Japan's second-largest life insurer. Dai-ichi will also provide assistance with product development, asset management, and information technology.
■ Stocks rise on Motorola report
Shares of Taiwanese electronic makers Cheng Uei Precision Industry Co (正崴精密) and Advanced Connectek Inc (連展科技) rose on reports the companies received orders from Motorola Inc.
Cheng Uei's stock gained 3.5 percent to close at NT$119, while Advanced Connectek climbed 6.9 percent to close at NT$22.55.
The Taipei-based companies received orders for connectors used in cellphones after Motorola's China factory switched orders from six Japanese suppliers, the Chinese-language Economic Daily News reported. The newspaper said Dennis Liou (柳夜沙), Advanced Connectek manager, confirmed that the company received the orders.
However, Cheng Uei spokesman Liao Kuei-lung (廖桂隆) said "Motorola is one of our existing customers, but we have no comment on the reports about the orders."
■ Balance of payments drops
Taiwan's balance of international payments posted a surplus of US$480 million in the second quarter of this year, down from US$2.2 billion in the previous quarter, the central bank reported yesterday.
Central bank officials attributed the drop to the preference of people in Taiwan for investing in foreign mutual funds and to the tendency of many local insurance companies to invest in overseas markets.
The financial account registered a net outflow for the fourth consecutive quarter.
The international payments surplus amounted to US$2.72 billion in the first half of this year, with a surplus of US$10.63 billion on the current account and a net outflow of US$10.25 billion on the financial account, the officials said.
In the second quarter of this year, direct investment and equity investment saw a net outflow of US$790 million and US$6.64 billion, respectively, they said.
■ New Taiwan dollar weakens
The New Taiwan dollar weakened against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.07 to close at NT$32.760 on a turnover of US$690 million.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
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
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last