Industrial & Commercial Bank of China Ltd (中國工商銀行), China’s largest bank, denied a media report that it may buy a stake in Taiwan’s Mega Financial Holding Co (兆豐金控).
“We’ve never heard of such a plan,” Gu Shu (谷澍), a Beijing- based board secretary of Industrial & Commercial Bank said in a telephone interview yesterday.
The company and Bank of China Ltd (中國銀行), the nation’s third-largest bank, are interested in buying shares in Mega Financial, which may itself invest in the Chinese lenders, the Taipei-based Economic Daily News reported on Friday, without saying where it got the information.
Grace Lin (林瑞雲), a spokeswoman for Mega Financial, said yesterday that there had been interest from the Chinese lenders and that the companies were in preliminary talks about cooperating.
But there won’t be any details on what form this may take until the governments of Taiwan and China sign a memorandum of understanding on financial cooperation between the two economies, Lin said.
Wang Zhaowen (王兆文), a Beijing-based spokesman for Bank of China, wasn’t immediately available for comment.
Top officials from Industrial & Commercial Bank, Bank of China and other Chinese financial institutions traveled with China’s top Taiwan envoy Chen Yunlin (陳雲林) when he visited the nation on a five-day trip in early November.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
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Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said second-quarter revenue is expected to surpass the first quarter, which rose 30 percent year-on-year to NT$118.92 billion (US$3.71 billion). Revenue this quarter is likely to grow, as US clients have front-loaded orders ahead of US President Donald Trump’s planned tariffs on Taiwanese goods, Delta chairman Ping Cheng (鄭平) said at an earnings conference in Taipei, referring to the 90-day pause in tariff implementation Trump announced on April 9. While situations in the third and fourth quarters remain unclear, “We will not halt our long-term deployments and do not plan to
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