Taiwan Business Quick Take - Taipei Times
Sat, Apr 14, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer

BUSINESS

SME loan target increased

The Financial Supervisory Commission yesterday announced it would raise its annual growth target for state-run banks’ loans to local small and medium-sized enterprises (SMEs) to NT$270 billion (US$9.21 billion) each year, from the NT$240 billion growth target set five years ago. The last time the commission raised the target was in 2013, when it increased loan growth targets from NT$220 billion to NT$240 billion. Last year, total SME loans extended by state-run banks grew NT$366.9 billion year-on-year to NT$6.1 trillion, accounting for 60.66 percent of all loans extended to the public and private sectors last year, the commission said.

INSURANCE

Coverage third-highest in Asia

The nation’s deposit insurance coverage is the highest in Asia and the third-highest in the world, indicating that the nation is keen to protect local consumers and their assets, William Su (蘇財源), executive vice president of government-run Central Deposit Insurance Corp (中央存保) said at a public function yesterday. Taiwan’s deposit insurance coverage of NT$3 million per depositor follows the US, which provides up to US$250,000 in deposit insurance coverage, and the EU at 100,000 euros (US$123,214).

TRADE

AmCham welcome TPP talk

The American Chamber of Commerce in Taipei (AmCham) yesterday welcomed US President Donald Trump’s willingness to study the possibility of re-entering the negotiations for the Trans-Pacific Partnership (TPP). Joining the pact would be a huge benefit for the US and for Taiwan if it could enter in the second round, AmCham Taipei said in a statement. “We believe Taiwan will have a better chance of gaining membership if the US joins the TPP,” the trade group said.

TECHNOLOGY

Ichia reports losses

Handset keypad maker Ichia Technologies Inc (毅嘉科技) yesterday released unaudited operating results for last quarter showing pretax losses of NT$124 million due to the negative impacts of seasonal factors and unfavorable foreign exchange rates. Pretax losses per share were NT$0.4 for the first quarter, compared with earnings per share of NT$0.01 in the previous quarter, the company said in a statement. Ichia reported gross margin of 1 percent and operating losses of NT$74 million in the first quarter.

MANUFACTURING

Altek IoT prototype ready

Altek Corp (華晶科技) on Thursday said it would be the first original design manufacturer to offer reference designs based on Qualcomm Inc’s vision intelligence platform for Internet of Things (IoT) devices. The company said in a statement that it has completed the development of the first VR 360 prototype camera and commercial surveillance prototype camera based on Qualcomm’s new chips system, which is aimed at supporting powerful computing across a wide range of IoT applications.

CHIPMAKERs

Powerchip resumes supply

Memory chipmaker Powerchip Technology Corp (力晶科技) on Thursday said it had resumed DRAM chip supply to clients after fixing equipment problems. The Hsinchu-based company said it had identified malfunctioning manufacturing equipment following recent maintenance work. After adjusting production lines, the company is able to fully supply DRAM chips to major clients, Powerchip said.

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