MANUFACTURING
Firms less optimistic: survey
Taiwan’s manufacturing companies have turned less positive about their business prospects moving forward after government data showed the nation’s exports contracted 4.2 percent in the first quarter from the previous year, a survey conducted by the Taiwan Institute of Economic Research (台灣經濟研究院) showed yesterday. The survey found that 33 percent of manufacturers polled last month were upbeat about their business in the coming six months, down from 48 percent indicated in February. Companies in the service sector gained a bit more confidence about their business outlook, the survey said, adding that land developers and home builders stayed bearish about the property market amid policy uncertainty.
MONETARY SUPPLY
M2 growth exceeds M1B
The nation’s M2 broad money supply gauge continued to outpace the M1B narrow indicator last month, as people channeled cash into time deposits, the central bank said yesterday. The narrow gauge, which refers to cash and cash equivalents, increased 5.87 percent year-on-year last month and lagged behind the M2’s 6.57 percent gain, the central bank said, adding that foreign fund inflows also helped boost the M2 reading. M1B values are often used to discern investor interest in equities, although the TAIEX has moved in directions opposite to the monetary indicator in recent months.
RESTAURANTS
Top One Pot plans to expand
Top One Pot (這一鍋餐飲), a Taiwanese hot pot restaurant chain and affiliate of Gourmet Master Co Ltd (美食達人), aims to raise its annual sales to NT$600 million (US$19.32 million), from nearly NT$400 million last year. The chain has eight restaurants in Taiwan and one in China, and plans to open five new branches this year across the Taiwan Strait. The chain said the three new stores in Taiwan this year are to be opened in northern and central Taiwan, while the two new stores in China will be in Shanghai. Top One Pot said the new restaurants would generate an average of NT$60 million in monthly sales each and could start turning a profit six months after opening.
LEASING
Chailease net income grows
Chailease Holding Co (中租控股), the nation’s top leasing services provider, yesterday reported net income of NT$622 million for last month, up 4 percent year-on-year and 22 percent month-on-month, thanks to increased fee and interest income, as well as asset gains in China. The company said in a statement that cumulative earnings for the first three months of the year totaled NT$1.71 billion, up 9 percent from the previous year, with earnings per share of NT$1.56. The firm last year posted a net profit of NT$1.09 billion, or NT$0.99 per share, up 13 percent from 2013.
AVIATION
AIDC building new factory
Aerospace Industrial Development Corp (AIDC, 漢翔航空工業), the largest civilian and military aircraft manufacturer in Taiwan, said construction of its new plant to produce composite materials started last week and the new plant is expected to generate revenue next year. Overall, in response to market growth and new orders from clients, AIDC said it plans to raise its capital spending to at least NT$2 billion this year. The spending is to focus on funding the construction of a new hangar for F-16A/B improvements and maintenance, the construction of an engine casing manufacturing center, and land acquisition and construction for the plant, the company said.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI