Reserves hit another record
Taiwan’s foreign-exchange reserves hit an all-time high of US$463.043 billion at the end of last month thanks to increased returns from the central bank’s management of foreign-exchange reserves, and the appreciation of the euro and other currencies against the US dollar, the bank said on Tuesday. The foreign-exchange reserves increased US$1.259 billion from December last year, the bank said, adding that it was the third consecutive month in which foreign-exchange reserves posted a record high.
Taiwan remains global leader
Taiwan has maintained its global lead in wafer production capacity, said IC Insights, a firm that researches the semiconductor market. Last year, Taiwan remained the leader in global wafer capacity with a 21.8 percent share, a slight increase from 21.3 percent in 2017. Taiwan was only slightly ahead of South Korea, which accounted for 21.3 percent of global wafer capacity, the recently released Global Wafer Capacity report by IC Insights said.
Risks to hit handset sales
Growing economic uncertainty would not favor local handset components suppliers Catcher Technology Co (可成), Merry Electronics Co (美律) and TXC Corp (晶技) this quarter, analysts said. Low seasonal demand and disruptions from the Lunar New Year holiday are expected to drag down sales for handset component makers, they said. Catcher reported weaker-than-expected sales of NT$4.91 billion (US$159.16 million) last month, down 26.7 percent from a month earlier; Merry’s sales dropped 23 percent to NT$2.92 billion; and TXC’s sales fell 8.7 percent to NT$611 million.
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
Uber Technologies Inc, Lyft Inc and Airbnb Inc have slashed thousands of jobs. Salesforce.com Inc and Visa Inc are letting employees work remotely for months; Twitter Inc and Square Inc are allowing them to do so for good. For the companies’ hometown of San Francisco, the moves are early signs of a dire blow. In a city with a long history of booms, busts and natural calamities, the COVID-19 pandemic has suddenly upended nearly a decade of prosperity. While municipalities across the US are grappling with economic fallout from the virus, San Francisco stands to take a deeper hit given its high
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the