ELECTRONICS
Chilisin, Ralec to merge
Power inductor maker Chilisin Electronics Corp (奇力新) yesterday said that it would acquire and merge with supply chain peer Ralec Electronic Corp (旺詮), with the companies aiming to complete the deal before the end of June. The merger is to be conducted through a share swap at 1 Ralec share per 0.78 share of Chilisin, with Chilisin designated as the surviving entity. Chilisin also announced a decision to acquire Ferroxcube International Holding BV, a subsidiary of Yageo Corp (國巨) that manufactures and supplies ferrite components and accessories, for NT$4.53 billion (US$144.13 million). Chilisin said the acquisitions are part of its plan to establish an integrated supply chain for passive components.
TIRES
Federal shares soar 10%
Federal Corp (泰豐輪胎), the nation’s fifth-largest tire manufacturer, yesterday saw its shares surge by the 10 percent daily limit to NT$15.80, despite a devastating fire at one of its factories last week. Losses from the fire that destroyed its plant in Taoyuan’s Jhongli District (中壢) is estimated at NT$500 million, and would affect monthly sales by NT$250 million to NT$300 million, the company has said. However, analysts and market observers said the company might be looking at NT$5 billion in disposal gains, if it is able to secure approval for an urban renewal project to build a commercial and residential complex on the site of its destroyed plant.
EQUITIES
TPEX to aid blue chips
Newly appointed Taipei Exchange (TPEX) president Su Yu-ching (蘇郁卿) yesterday outlined plans to showcase a number of blue-chip companies that have been overlooked by investors to boost turnover. In a bid to attract investors, the TPEX would help organize earnings conferences for 30 companies with solid performance records, Su said. Companies that have posted profits in the past five consecutive years, dividend yields that are higher than 5 percent and earnings per share of more than NT$2 in the past three quarters, but have an average daily turnover of less than 100,000 shares would be included, Su said.
PHARMACEUTICALS
ASLAN listing approved
ASLAN Pharmaceuticals (亞獅康), a biotech firm focused on the development of immunotherapies and targeted agents for Asia-prevalent tumor types, yesterday said its TPEX listing application has been approved. ASLAN applied for the listing with “qualified technology enterprise” status, with paid-in capital of NT$1.16 billion. The company is developing five drugs addressing multiple indications, including biliary tract cancer, gastric cancer and breast cancer.
BANKING
Taishin slams Chang Hwa
Taishin Financial Holding Co (台新金控) yesterday railed against a decision by state-run Chang Hwa Bank (彰化銀行) to change its shareholders’ service provider, in the latest flareup in a decade-long management rights dispute with government stakeholders. Taishin accused Chang Hwa of discontinuing its shareholders’ service contract with Yuanta Securities Co (元大證券) so that the nation’s biggest brokerage would be able to skirt neutrality rules and help gather votes on behalf of the Ministry of Finance in an upcoming proxy fight. Chang Hwa’s decision to switch to the smaller Mega Securities Co (兆豐證) is against corporate governance guidelines and is a break from the government’s promise to not intervene in the management rights dispute, Taishin 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