The Ministry of Economic Affairs (MOEA) announced late last night that it would postpone its proposal to sell an 80 percent stake in the debt-ridden Sino Swearingen Aircraft Corp (SSAC,
The ministry said it would not deal with the case until it officially reports to the Legislative Yuan.
REPORT
"The ministry's report to the Legislative Yuan will be submitted before the end of March, but it will be after the presidential election," Woody Duh (杜紫軍), chief executive officer of the Yao-Hwa Glass Co management commission, told reporters in the ministry's press room yesterday.
The presidential election will take place on March 22.
"There are only three options possible in the SSAC case. One is to seek investors to form a joint venture while the other is to face the risk of bankruptcy. The other is for the government to provide funding. The ministry will evaluate the potential losses involved in both options and report its assessment to the Legislative Yuan," Duh said.
SITUATION
It has been estimated that SSAC's operating capital will only last until next month, he said.
On Tuesday, the ministry said SSAC had negative net assets of US$60 million.
"Four investors have been in talks with the government regarding forming a joint venture since November, but the venture capital firm in the UAE is the only one that invested US$10 million," Duh said.
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
SECOND-RATE: Models distilled from US products do not perform the same as the original and undo measures that ensure the systems are neutral, the US’ cable said The US Department of State has ordered a global push to bring attention to what it said are widespread efforts by Chinese companies, including artificial intelligence (AI) start-up DeepSeek (深度求索), to steal intellectual property from US AI labs, according to a diplomatic cable. The cable, dated Friday and sent to diplomatic and consular posts around the world, instructs diplomatic staff to speak to their foreign counterparts about “concerns over adversaries’ extraction and distillation of US AI models.” Distillation is the process of training smaller AI models using output from larger, more expensive ones to lower the costs of training a powerful new
Micron Technology Inc is a driving force pushing the US Congress to pass legislation that would put new export restrictions on equipment its Chinese competitors use to make their chips, according to people familiar with the matter. A US House of Representatives panel yesterday was to vote on the “MATCH Act,” a bill designed to close gaps in restrictions on chipmaking equipment. It would also pressure foreign companies that sell equipment to Chinese chipmaking facilities to align with export curbs on US companies like Lam Research Corp and Applied Materials Inc. The bill targets facilities operated by China’s ChangXin Memory Technologies Inc
Singapore-based ride-hailing and delivery giant Grab Holdings’ planned acquisition of Foodpanda’s Taiwan operations has yet to enter the formal review stage, as regulators await supplementary documents, the Fair Trade Commission (FTC) said yesterday. Acting FTC Chairman Chen Chih-min (陳志民) told the legislature’s Economics Committee that although Grab submitted its application on March 27, the case has not been officially accepted because required materials remain incomplete. Once the filing is finalized, the FTC would launch a formal probe into the deal, focusing on issues such as cross-shareholding and potential restrictions on market competition, Chen told lawmakers. Grab last month announced that it would acquire
RSS