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.
CAUTIOUS RECOVERY: While the manufacturing sector returned to growth amid the US-China trade truce, firms remain wary as uncertainty clouds the outlook, the CIER said The local manufacturing sector returned to expansion last month, as the official purchasing managers’ index (PMI) rose 2.1 points to 51.0, driven by a temporary easing in US-China trade tensions, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI gauges the health of the manufacturing industry, with readings above 50 indicating expansion and those below 50 signaling contraction. “Firms are not as pessimistic as they were in April, but they remain far from optimistic,” CIER president Lien Hsien-ming (連賢明) said at a news conference. The full impact of US tariff decisions is unlikely to become clear until later this month
With an approval rating of just two percent, Peruvian President Dina Boluarte might be the world’s most unpopular leader, according to pollsters. Protests greeted her rise to power 29 months ago, and have marked her entire term — joined by assorted scandals, investigations, controversies and a surge in gang violence. The 63-year-old is the target of a dozen probes, including for her alleged failure to declare gifts of luxury jewels and watches, a scandal inevitably dubbed “Rolexgate.” She is also under the microscope for a two-week undeclared absence for nose surgery — which she insists was medical, not cosmetic — and is
GROWING CONCERN: Some senior Trump administration officials opposed the UAE expansion over fears that another TSMC project could jeopardize its US investment Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating building an advanced production facility in the United Arab Emirates (UAE) and has discussed the possibility with officials in US President Donald Trump’s administration, people familiar with the matter said, in a potentially major bet on the Middle East that would only come to fruition with Washington’s approval. The company has had multiple meetings in the past few months with US Special Envoy to the Middle East Steve Witkoff and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. The conversations are a continuation of talks that
CHIP DUTIES: TSMC said it voiced its concerns to Washington about tariffs, telling the US commerce department that it wants ‘fair treatment’ to protect its competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reiterated robust business prospects for this year as strong artificial intelligence (AI) chip demand from Nvidia Corp and other customers would absorb the impacts of US tariffs. “The impact of tariffs would be indirect, as the custom tax is the importers’ responsibility, not the exporters,” TSMC chairman and chief executive officer C.C. Wei (魏哲家) said at the chipmaker’s annual shareholders’ meeting in Hsinchu City. TSMC’s business could be affected if people become reluctant to buy electronics due to inflated prices, Wei said. In addition, the chipmaker has voiced its concern to the US Department of Commerce
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