Shin Kong Financial Holding Co (
Last year, Shin Kong Financial reaped net profits of NT$7.06 billion, or NT$1.74 per share. For the first eight months of this year, the firm posted earnings of NT$7.45 billion, or NT$1.71 per share.
Hsu said that Shin Kong Financial has been looking for potential acquisition targets after taking over Macoto Bank (
He didn't specify potential candidates, but local media have been speculating that MasterLink Securities Corp (
According to the Shin Kong group's statistics, flagship unit Shin Kong Life Insurance Co (
"We have interests in First Financial and the company also offers good investment value," Shin Kong Financial chairman Eugene Wu (
But under current regulations, the company is competing with interested foreign rivals with its one hand tied behind its back, Wu said.
He remained tight-lipped about the firm's plans for First Financial, saying only that it would flexibly respond to future situations.
On Wednesday, Minister of Finance Ho Chih-chin (何志欽) said that the ministry might consider unloading shares in state-controlled banks to top foreign firms.
Ho's remark follows recent announcements by Standard Chartered Bank of its plan to buy Hsinchu International Bank (新竹國際商銀) and Citibank's interest in taking over the Bank of Overseas Chinese (
The ministry's government shareholding management unit, which oversees state holdings, last week unveiled guidelines for dis-posing of public shares in financial institutions. At the time, the ministry said it preferred the world's top 100 banks to take over state shareholdings in future disposals and that local financial institutions are banned from using insurance funds for takeover investment.
The government currently holds a majority of board seats in eight state-controlled banks, including the Bank of Taiwan (
Deputy Minister of Finance Liu Teng-cheng (
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
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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