Taipower to set up line
State-run Taiwan Power Co (Taipower, 台電) plans to set up a shipping line with U-Ming Marine Transport Corp (裕民航運), Kuang Ming Shipping Corp (光明海運) and Kawasaki Kisen Kaisha Ltd (K-Line) after the companies signed a memorandum of understanding yesterday. Taipower said in a statement that it would invest up to NT$400 million (US$12.9 million) for a 40 percent stake in the line, which would be registered by next year, with a total capitalization of NT$1 billion. U-Ming would take a 32.5 stake, Kuang Ming 20 percent and K-Line the remaining 7.5 percent. Taipower said the line would help ensure the transportation of raw materials essential to its power generation business.
CPC cuts LPG, LNG prices
State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced price cuts for liquefied petroleum gas (LPG) and liquefied natural gas (LNG) this month. Effective today, prices are to drop by NT$1.6 per kilogram for household LPG, translating into a NT$32 reduction for a 20kg cylinder. Prices for industrial propane and butane are also to fall by NT$1.6 per kilogram and the price of LPG used in vehicles is to be cut by NT$0.9 per liter, it added. The price of domestic LNG would be lowered by an average of 2.57 percent this month, which translates into a lower cost of NT$9.6 to NT$14.4 for households that use 30m3 to 45m3 of LNG per month respectively, CPC said.
New vehicle sales increase
Sales of new vehicles last month rose 15.7 percent month-on-month and 0.9 percent year-on-year to 38,239 units, Directorate-General of Highways data showed. In the first six months of this year, cumulative vehicle sales totaled 206,922 units, down 6.9 percent from the same period last year, the data showed. Hotai Motor Co (和泰汽車) continued to lead the market, selling 12,047 Toyota and Lexus vehicles with a market share of 31.5 percent, the data showed. From January to last month, Hotai’s total vehicle sales increased 5.5 percent from a year earlier to 65,725 units, the data showed.
China Life EV up 11.4%
Taipei-based China Life Insurance Co (中國人壽) yesterday reported an embedded value (EV) of NT$272.6 billion for last year, up 11.4 percent from 2017, translating to an EV of NT$67.92 per share. EV represents the value of a life insurer’s future profitability plus its adjusted net asset value. In a regulatory filing, the company said its net profit for the first five months of this year increased 29 percent year-on-year to NT$6.07 billion, translating to earnings per share of NT$1.51. Net worth was NT$108.1 billion as of the end of May, it said. The company also said it completed a capital investment of NT$9.27 billion on Tuesday last week.
TSMC announces reshuffle
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday announced some personnel changes to take effect on Sept. 1. Senior vice president Lora Ho (何麗梅) would be mainly focused on the Europe and Asia business, and would leave the chief financial officer and spokesperson positions to deputy chief financial officer Wendell Huang (黃仁昭), TSMC said in a regulatory filing. Ho has been chief financial officer and spokesperson since 2003.
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
SCATTERED: Production would be dispersed among a number of countries, which would bring an end to so-called world factories, Hon Hai chairman Young Liu said Decentralized production would be the new focus in manufacturing, Hon Hai Precision Industry Co (鴻海精密) chairman Young Liu (劉揚偉) yesterday told an online forum held by the Market Intelligence & Consulting Institute (MIC, 產業情報研究所). “The COVID-19 pandemic exerted a heavy impact on supply chains as well as production ... [production] would no longer be concentrated in solely one country, this is the end of what we used to call world factories,” Liu said during a panel discussion hosted by MIC director Victor Tsan (詹文男). As the US and China continue to dominate and sway international relations, the rest of the world is
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five