TPPC to close Sinying plant
Taiwan Pulp and Paper Corp (TPPC, 台灣紙業) on Friday announced that it is to cease operations at its pulp and paper plant in Tainan’s Sinying District (新營) due to mounting losses. The company said in a filing with the Taiwan Stock Exchange Corp (TWSE) that the plant incurred accumulated losses of about NT$1.75 billion (US$55.9 million) over the past five years due to aging facilities and rising production costs.
Mega Bank to set up center
Mega International Commercial Bank (兆豐銀行) on Friday said it will establish a money laundering prevention center, an overseas operations management division and a business management division. The bank, which was recently fined by financial regulators in New York and Taipei for compliance failures, said it would put risk control affairs under the direct supervision of its chairman. Meanwhile, First Commercial Bank (第一銀行) has pledged to shore up information security by replacing a significant number of automated teller machines and teaming up with global consultancy firm KPMG, the state-run bank said on Saturday.
TWSE, KRX to list ETFs
Taiwan and South Korea are to begin mutual listings of exchange-traded funds (ETFs) on Oct. 7, the TWSE said last week. The TWSE signed a memorandum of understanding with the Korea Exchange (KRX) in December last year to forge closer cooperation. The launch of mutual ETF listings in Taipei and Seoul will further diversify the product mix in Taiwan’s capital market, TWSE said. It will also help Taiwan become more international and meet global standards, the exchange said.
POTENTIAL SETBACK: Although Chinese chip designers and foundry firms already have US EDA software, they might be unable to update those programs under new US rules The US’ latest ban on advanced electronic design automation (EDA) software exports to China might hinder Chinese chip companies from accessing advanced semiconductor technology, as they attempt to upgrade to 3-nanometer processes in the next three to five years, market researcher TrendForce Corp (集邦科技) said yesterday. The US Department of Commerce’s Bureau of Industry and Security on Friday announced bans on EDA tools for gate-all-around field-effect transistors (GAAFET), a new-generation semiconductor technology that US chipmaker Intel Corp and Samsung Electronics Co from South Korea are adopting to make 4-nanometer and 3-nanometer chips. The bureau in a statement said that gate-all-around field-effect transistor
WIDENING THE FIELD: Human resources managers must drop prejudices regarding gender, appearance and age to find the best candidates, Micro Technology said The job market for Taiwan’s semiconductor industry remained tight this quarter, as hiring activity slowed from a record high last quarter, a survey released yesterday by online human resource firm 104 Job Bank (104人力銀行) showed. Ongoing labor shortages have prompted local semiconductor firms to recruit more women and foreigners in Taiwan and in Southeast Asia, the job bank said. The talent gap in the first quarter reached 35,000 people per month, a surge of 39.8 percent from the same period last year, as the contactless economy and digital transformation shore up demand for semiconductors, 104 Job Bank said in its annual report
DISMAL OUTLOOK: A Citigroup analyst predicted firms face ‘the worst semiconductor downturn in at least a decade,’ due to inventory build and the potential of a recession Semiconductor stocks tumbled after Micron Technology Inc became the latest chipmaker to warn about slowing demand, triggering concern that the industry is heading into a painful downturn. In the US on Tuesday, the Philadelphia semiconductor index sank 4.6 percent, with all 30 members in the red, its biggest drop in about two months. In Asia, chip stocks from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to Samsung Electronics Co, SK Hynix Inc and Tokyo Electron Ltd slumped. Investors are growing increasingly skittish as the notoriously cyclical industry is hurtling toward a prolonged slump after years of widespread shortages that led to heavy
POSITIVE CULTURE: Pursuing 12-inch wafers earlier than peers helped TSMC lead the industry, said a former executive, whose main regret was working for SMIC in China Corporate culture at Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is what made the chipmaker a leading player in the global industry, a former executive said in an interview with California’s Computer History Museum. “One of the really important reasons that TSMC succeeded” is the culture at the firm, where “if equipment went down at two o’clock in the morning, we just called an equipment engineer,” and the worker would not complain, said former TSMC joint chief operating officer Chiang Shan-yi (蔣尚義). “We didn’t really do anything special, anything great, but we didn’t make any major mistakes,” when compared with competitors, such