Premier Lin Chuan (林全) has appointed Shih Jun-ji (施俊吉) as the new chairman of the Taiwan Stock Exchange (TWSE), Cabinet spokesman Tung Chen-yuan (童振源) said yesterday.
The appointment came amid speculation that Shih, an experienced academic and veteran of Taiwan’s financial regulatory agency, would replace Lee Sush-der (李述德), who is scheduled to retire at the end of this month.
Tung said that Shih, currently a minister without portfolio, has a wealth of experience and a good reputation in both economic theory development and financial market practices, making him a good candidate to take the helm of the TWSE, which operates the local main board.
Photo: CNA
Shih formerly served as chairman of the Financial Supervisory Commission (FSC), the top financial regulator in Taiwan, and was a research fellow at Academia Sinica, the nation’s top research institution.
Shih was born in August 1955 and has a doctorate in economics from National Taiwan University. As a minister without portfolio, he is in charge of policies regarding economics, communication and trade negotiations, including possible talks on entering the US-led Trans-Pacific Partnership.
Citing Lin, Tung said that the TWSE chairman plays an important role in the capital market, as Taiwan is keen to attract funding at home and from overseas to energize its capital market.
Tung said that when Shih served as FSC chairman, he worked closely with the domestic financial market.
As a research fellow at Academia Sinica, Shih has conducted a great deal of research on Taiwan’s financial market, Tung said.
He said Shih has done a good job as a minister without portfolio and his expertise in the financial market makes him ideal for the position of TWSE chairman.
After Shih assumes his new post, he is to step down from his position as minister without portfolio.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
UNCERTAINTIES: The world’s biggest chip packager and tester is closely monitoring the US’ tariff policy before making any capacity adjustments, a company official said ASE Technology Holding Inc (日月光投控), the world’s biggest chip packager and tester, yesterday said it is cautiously evaluating new advanced packaging capacity expansion in the US in response to customers’ requests amid uncertainties about the US’ tariff policy. Compared with its semiconductor peers, ASE has been relatively prudent about building new capacity in the US. However, the company is adjusting its global manufacturing footprint expansion after US President Donald Trump announced “reciprocal” tariffs in April, and new import duties targeting semiconductors and other items that are vital to national security. ASE subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) is participating in Nvidia
RSS