More Taiwanese companies resumed operations at their factories in Vietnam yesterday after the worst of anti-China protests in the nation appeared to be over, company officials said.
Cheng Shin Rubber Industry Co (正新橡膠), the world’s ninth-largest tire maker, said its local division in Vietnam restored operations yesterday because no protesters were in sight near the industrial zone.
On Wednesday, protesters broke in and looted the office of the company’s Vietnamese division, forcing the company to evacuate 12 employees, Cheng Shin financial director Richard Lo (羅永勵) said.
Lo said that the 12 employees were back on the job yesterday.
Lo estimated that the damage would be mild, as facilities were still intact.
Formosa Industries Corp (台灣興業), a subsidiary of the Formosa Plastics Group (台塑集團), said it resumed operations on Thursday after local police provided more security.
“Local police departments deployed more personnel to the industrial zone on Thursday, and they started arresting people who broke the law,” Formosa Industries Corp president Hong Fu-yuan (洪福源) said by telephone yesterday.
Because computer equipment had been destroyed or stolen, Formosa Industries Corp will not be able to operate under full capacity until the end of this month, Hong said.
Both companies will be keeping an eye on nationwide demonstrations against China scheduled for tomorrow, Hong and Lo said.
The industrial zone is owned by Formosa Industries Corp, and it rented half of the land to other companies, including Cheng Shin, Hong said.
Meanwhile, other Vietnamese divisions of Taiwanese companies located further from the scenes of unrest also resumed operations yesterday, including apparel maker Makalot Industrial Co (聚陽實業) and China Steel Corp (中鋼), the nation’s only integrated steel maker.
Located in Cu Chi District of Ho Chi Minh City, Makalot’s division remained relatively intact during the protests, but it still decided to shut down its local subsidiary for one-and-a-half days starting on Wednesday.
Makalot’s operations in Vietnam accounted for 26 percent of its NT$17.91 billion (US$594 million) in revenue last year, it said.
China Steel’s local division China Steel Sumikin Vietnam Joint Stock Company (CSVC), which is in Ba Rja-Vung Tau Province, also sent 840 of its employees, including 70 from Taiwan, back to work yesterday.
The company sent its employees to Ho Chi Minh City for safety reasons after the protests started, but it did not suffer any damage during the protests, CSVC vice president Lin Horng-nan (林弘男) said.
The firm produces 400,000 tonnes of steel a year, Lin said.
Hon Hai Precision Industry Co (鴻海精密), which assembles iPhones and iPads for Apple Inc, yesterday said it would shut down its Vietnam factory for three days due to safety concerns.
The company’s statement came amid growing fears that the anti-China protests will escalate and spread from Pinh Duong Province in the south, which was hardest hit.
Hon Hai’s factory is in Vinh Phuc Province in northeastern Vietnam, which is far from the riot-hit areas. The company primarily designs and produces mobile phone components at the factory.
Additional reporting by Lisa Wang
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
STAYING AHEAD: TSMC expects its sales this year to grow 14 to 19 percent and could spend up to US$3.52 billion on research and development, leaving its rivals far behind Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) reported that the US last year approved 99 percent of its patent applications, which placed the tech giant among the top patent holders in the US. In its Corporate Social Responsibility Report, TSMC said it last year secured about 3,600 patents worldwide, including more than 2,300 in the US. As of the end of last year, TSMC owned more than 39,000 patents, the report said. The company last year filed almost 6,500 patent applications worldwide and ranked among the top 10 patent applicants in the US. In Taiwan, it was the largest patent applicant for the fourth