EirGenix plant on schedule
EirGenix Inc (台康生技) on Thursday said construction of its new large-scale protein production plant is on schedule and it is expected to go online in the final quarter of next year. The new facility is designed to support two production lines, bringing annual production capacity of more than 1,000kg, the company said at a beam-laying ceremony in Hsinchu. The facility would aid the company’s efforts in developing biosimilar drugs and taking on more contract development and manufacturing orders, the company said.
Equipment billings drop
North America-based semiconductor equipment makers posted a third straight monthly decline in billings for last month at US$2.03 billion, industry association SEMI reported on Friday. The figure represented a monthly contraction of 6.9 percent from US$2.18 billion, but annual growth of 36 percent from US$1.49 billion, SEMI said. Total billings through the first three quarters of this year had surpassed total billings for all of last year, SEMI president and CEO Ajit Manocha said in a statement.
Banks’ yuan deposits rise
Yuan deposits held by banks operating in Taiwan last month rose for the fifth consecutive month on the back of the strength of the Chinese currency against the US dollar, the central bank said on Friday. Yuan deposits totaled 312.82 billion yuan (US$47.25 billion) at the end of last month, up 2.74 billion yuan from the previous month, with deposits held by local banks’ domestic banking units totaling 280.6 billion yuan, a monthly increase of 2.97 billion yuan, and those held by offshore banking units hitting 32.22 billion yuan, down 55 million yuan, the central bank said.
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
O2O BICYCLE SHOW: The Taiwan Bicycle Show next year is to be online to offline, with forums, audio-visual conferences and livestreaming of the offline events Local bicycle makers expect demand to continue outpacing supply due to orders triggered by the COVID-19 pandemic, with some companies seeing orders back up through next year. “Next year is all full in terms of orders. Our lead time on components is one year,” Giant Manufacturing Co Ltd (巨大機械) chairwoman Bonnie Tu (杜綉珍) told a news conference in Taipei organized by the Taiwan External Trade Development Council (TAITRA) to announce next year’s Taipei Cycle Show. The pandemic has reduced bicycle supplies and increased demand around the world, Robert Wu (吳盈進), chairman of KMC (Kuei Meng) International Inc (桂盟國際), one of the world’s