Tainan supercharger opened
Electric automaker Tesla Inc yesterday launched its second supercharger station in the nation at Chimei Museum (奇美博物館) in Tainan. Compared with its usual charging stations, superchargers are set up in strategic locations and allow drivers to replenish batteries in minutes during long-distance road trips, Tesla said in a statement. The US company — which has more than 80 charging stations nationwide — said another supercharger is expected to begin operations in Taichung next week. Tesla said it is planning to install more destination charging stations at department stores and theme parks across the nation this year, but did not elaborate.
King’s Town reports theft
King’s Town Bank (京城銀行), a medium-sized bank based in Tainan, yesterday said that it has alerted regulators and authorities that one of its financial planners has been misappropriating clients’ funds for as long as a decade, resulting in NT$26.5 million (US$870,079) in losses for about 20 clients. The Financial Supervisory Commission said that the lender could face penalties for lapses in internal controls. The theft was discovered on Thursday last week and a report to the commission was made the following day, the commission said. In most such cases, local banks have been ordered to reimburse theft-related losses, the commission said.
Shangmao loan signed
Taiwan Business Bank (臺灣中小企銀) yesterday signed a NT$1.05 billion syndicated loan with Kaohsiung-based Shangmao Enterprise Co (商茂企業) to allow the firm more financial leeway to carry out plans to help young people build careers. A new unit of E United Group (義聯集團), Shangmao is intended to join forces with I-Shou University to support career-building for students. With a focus on a “maker” culture and education, Shangmao said it would acquire up-to-date digital facilities and provide courses on patent applications, brand-building, sales channel establishment and business operations.
Aurora registers capital plan
Office appliance sales agent Aurora Group (震旦行) has completed the registration process for new paid-in capital following a capital reduction scheme, part of the company’s efforts to boost efficiency. The company said in a filing with the Taiwan Stock Exchange yesterday that it has reduced capital by NT$1.01 billion, or 30 percent, to boost return on equity. Aurora’s paid-in capital was NT$2.36 billion yesterday, with a net value of NT$31.49 per share, compared with NT$22.04 at the end of first quarter, the company said. Shareholders are to receive NT$3 per share due to the capital reduction, it said.
Association tips increase
Transactions of residential and commercial properties could reach 260,000 this year, the Chinese Association of Real Estate Brokers said yesterday, citing strong sales momentum in the first half. Total transactions in the six special municipalities reached 20,351 units last month, up 15.7 percent month-on-month and 19.1 percent year-on-year, the association said, citing government statistics. In the first half, total transactions in the six special municipalities were 99,000 units, up 20.7 percent from a year earlier, it said. Transactions are forecast to be 255,000 to 270,000 units for the whole of this year, a 4 percent to 10 percent increase from last year.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
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