ENERGY
LNG terminal gets approval
The Environmental Protection Administration yesterday approved an environmental impact assessment for state-owned oil refiner CPC Corp, Taiwan’s (台灣中油) construction of a second liquefied natural gas (LNG) terminal in Taichung. CPC said that it has leased the No. 11 and No. 12 piers at the Port of Taichung from Taiwan International Ports Corp (台中港務) to construct the new terminal. The terminal is needed to maintain the domestic supply of natural gas, CPC said in a statement posted on its Web site. The government plans to boost the proportion of electricity generated by natural gas from about 35 to 50 percent by 2025.
FOOD AND BEVERAGE
UPE names two copresidents
Uni-President Enterprises Corp (UPE, 統一企業), the nation’s largest food and beverage producer, on Wednesday elected two senior executives to serve as copresidents in charge of domestic and foreign markets. The board of directors elected Hwang Jau-kai (黃釗凱) and Lee Ching-tien (李清田) to replace Hou Jung-lung (侯榮隆) effective immediately, UPE said in a statement. The board also resolved to issue up to NT$5 billion (US$160.8 million) in unsecured corporate bonds to raise funds for loan repayment and financial structure improvement, the company said.
BATTERIES
Synergy expands production
Lithium battery maker Synergy ScienTech Corp (興能高科技) on Wednesday said that it has added a second plant in Kunshan, China, and has increased the capacity of its first plant from 3.6 million to 4 million units. Total production capacity is projected to reach 5 million units in the upcoming quarter, the company said at an annual shareholders’ meeting in Hsinchu. Synergy ScienTech reported cumulative revenue of NT$836 million in the first five months of this year, up 41.84 percent from NT$589.39 million in the same period last year. Shareholders approved a plan to distribute a cash dividend of NT$1.2 per share, representing a payout ratio of 55.3 percent based on last year’s earnings per share of NT$2.17.
CREDIT
Line unveils rating service
Line Corp yesterday unveiled new services from an artificial intelligence-powered robot receptionist to credit scores, as the operator of Japan’s dominant messaging platform seeks to expand beyond chat. The feature is to go live today in Japan. Line Score would rate users based on information they provide, as well as their interaction with other services on the platform. That would determine interest rates and credit limits for a loan service to be made available this summer, executives said. Line Score would also be used to generate personalized offers and discounts from partners, including Airbnb Inc and branded-goods rental service Laxus Technologies Inc, they said.
EQUITIES
Chinese firm hits 1,000 yuan
China’s equity market finally got its first 1,000 yuan (US$145.42) stock — although only briefly. Liquor giant Kweichow Moutai Co (貴州茅台) yesterday reached a record 1,001 yuan in intraday trading, after advancing as much as 2.2 percent. The stock pared its gain to close up 1.7 percent at 996.35 yuan. The alcohol producer’s shares have rallied 69 percent this year. Reaching that milestone at a time when markets are hobbled by uncertainties ahead of a G20 meeting illustrates the continued flight to quality, analysts said.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS