Mon, Dec 04, 2017 - Page 15 News List

Taiwan Business Quick Take

Staff writer

BANKING

OBU assets grow 0.2%

The 61 offshore banking units (OBUs) of financial institutions operating in Taiwan had assets totaling US$196.679 billion last month, up US$361 million (0.2 percent) from October, the central bank said in a statement on Thursday. The OBUs of 38 local banks held US$174.13 billion in assets, while foreign banks’ 24 OBUs held US$22.549 billion, the central bank said. At the end of last month, the primary uses of funds of all OBUs were discounts and loans, amounting to US$80.572 billion, or 41 percent of total assets, the statement said.

EMPLOYMENT

Temp workers increase

Those with “atypical employment”— such as part-time, temporary and dispatch work — numbered 805,000 in May, accounting for 7.11 percent of total employment, statistics released on Thursday by the Directorate-General of Budget, Accounting and Statistics showed. The figure represented an increase of 13,000 people from the same period last year, the agency said. Compared with 2008, the numbers increased by 155,000 people, or 6.45 percent, it added.

PAPER

TPPC appoints new chair

Taiwan Pulp and Paper Corp (TPPC, 台灣紙業) on Thursday appointed president Yu Mei-ling (余美玲) to replace Phil Hsu (許良宇) as chairman after Hsu suddenly passed away, a filing with the Taiwan Stock Exchange said. The company did not specify the cause of Hsu’s death. Hsu, 38, was elected chairman in March following a bitter management battle between Yu and former chairman Chien Hung-wen (簡鴻文). Yu is to serve as chairman until June 27, 2020, the company said.

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