Cash-strapped Far Eastern Air Transport Corp (FAT, 遠東航空) yesterday disclosed plans to sell its non-operational investments, including shares in the Xiamen Air Cargo Hub and the Kaohsiung air cargo warehouse, to meet short-term liquidity needs.
"We will sell the 12 percent shares we hold in Xiamen Air Cargo Hub (廈門航空貨運站) to the other four major shareholders for a total of NT$160 million [US$5.17 million]," FAT spokesman Hanson Chang (張有朋) said.
EVA Airways Corp (長榮航空), China Airlines Ltd (CAL; 中華航空), Taiwan Air Service Co (台灣航勤), and China's Xiamen Airport are the four major shareholders of the air cargo hub.
Chang said profits from other non-operational investments such as NT$50 million from Kaohsiung Air Food Service (高雄空儲) and NT$20 million in accounts receivable from online travel agent EZfly.com (易飛網) would help the cash crunch next week.
Chang said that a total of NT$35 million had already been received yesterday to meet the costs of operation over the weekend, as well as last month's payroll.
FAT said because of severe losses after the high-speed railway started operation and continuous surges in fuel costs, the company had gained approval from the Civil Aeronautic Administration to suspend service from Taipei to Tainan and from Kaohsiung to Hualien beginning today.
SELF-SUFFICIENCY: Alibaba is one of a number of Chinese firms that has answered Beijing’s call to invest in the development of cutting-edge technologies Alibaba Group Holding Ltd (阿里巴巴) yesterday unveiled a new server chip that is based on advanced 5-nanometer technology, marking a milestone in China’s pursuit of semiconductor self-sufficiency. The Chinese tech giant’s newest chip is based on micro-architecture provided by the SoftBank Group Corp-owned Arm Ltd, it said. Alibaba, which is holding its annual cloud summit in Hangzhou, China, said that the chip is to be used in its own data centers in the “near future” and would not, for the time being, be sold commercially. “Customizing our own server chips is consistent with our ongoing efforts toward boosting our computing capabilities with better
Production at Taiwan Semiconductor Manufacturing Corp’s (TSMC, 台積電) fabs was not affected by a fire at a construction site for a water recycling facility in the Southern Taiwan Science Park in Tainan. The world’s biggest contract chipmaker said that the construction site is not adjacent to its fabs, which were unaffected. CTCI Corp (中鼎工程) is responsible for the construction of the facility, which it is to operate itself once it is completed, the chipmaker said. The facility caught fire at about 11am, and the blaze was brought under control about 30 minutes after the incident was reported, the Southern Taiwan Science Park Administration
AGGRESSIVE STEP: With the new processors, Apple is aiming at the high-end chips Intel has provided for the MacBook Pro and other top-end Macs for about 15 years Apple Inc on Monday took the most aggressive step yet to strip Intel Corp chips from its computers, announcing more powerful homegrown Mac processors alongside a total revamp of its MacBook Pro laptop computers. The company showcased the chips at an event called “Unleashed,” which also included its latest audio products. The new components, called the M1 Pro and M1 Max chips, are 70 percent faster than its M1 predecessors, Apple said. It also unveiled a redesigned MacBook Pro, adding larger screens, MagSafe charging and better resolution. With the new processors and devices, Apple is aiming squarely at the high-end chips that Intel has
SUBSIDIES NEEDED: Legislation to provide grants and incentives to the semiconductor industry has been stalled by lawmakers, to the frustration of chipmaker Intel Corp’s plans for a multibillion-dollar investment in a new US semiconductor plant hang in part on the US Congress moving on a stalled plan to bolster the domestic chip industry, Intel CEO Pat Gelsinger said. “The capital plans that we’ve laid out do not presume anything heroic on the part of the government, but we’d like to go bigger and faster as a result of the investments from the US government,” Gelsinger said on Bloomberg Television. Intel’s earnings report on Thursday underscored the costs of returning the world’s largest chipmaker to global industry leadership. A bipartisan push to make the US more