Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has again made the list of global top 100 companies in terms of market capitalization, although its ranking this year fell to 37th from 23rd last year due to a value decline, a report by PricewaterhouseCoopers (PwC) showed yesterday.
TSMC, which is the world’s largest contract maker of chips used in smartphones, laptops and high-performance computing devices, is the only Taiwanese firm that secured a spot on the list for a second consecutive year, PwC said.
The annual report ranks the top 100 global companies by market capitalization and compares how the list has evolved over the past year and decade. It identifies the risers and fallers, looks at regional and sector dynamics and provides a view on how the global landscape has changed over time.
TSMC stayed on the list with a market value of US$206 billion, a 6.3 percent decline from last year, bucking the trend of a 5 percent increase for the top 100 firms and a 6 percent pickup for the technology sector, the report said.
The technology industry continues to hold its place as the largest sector in terms of market capitalization at US$5,691 billion, although it was hardest hit during a sell-off linked to the US-China trade dispute, the report said.
The healthcare, consumer services and telecommunications sectors grew 15 percent each, while financial conglomerates saw a 3 percent retreat, the report said.
The US continues to dominate with 54 firms on the list, representing 63 percent of overall value, up from 51 percent 10 years ago, PwC said.
Microsoft Corp took the crown as the most valuable public company for the first time, ending a seven-year reign by Apple Inc, which dropped to second, followed by Amazon.com Inc, Alphabet Inc, Berkshire Hathaway Inc, Facebook Inc, Alibaba Group Holding Ltd (阿里巴巴), Tencent Holdings Ltd (騰訊), Johnson & Johnson and Exxon Mobile Corp.
Eleven European companies dropped off the list, an overall 12 percent decline in the region’s value share from last year.
The decline was due in part to the Brexit drama, the report said.
“The US continues to be the powerhouse of the global top 100 firms, thanks to its strong economic showings,” PwC Taiwan official Eileen Liang (梁華玲) said.
In the long term, the international consultancy expects to see a growing contribution from India and other developing markets, including technology companies in greater China that would challenge the rankings, Liang said.
The prominence of companies from leading global unicorns in greater China might be a precursor to this realignment, she said.
A unicorn is a privately held start-up valued at more than US$1 billion.
Nearly half — 48 percent — of the top 100 unicorns are from the US, while greater China contributes 31 percent, PwC said.
As unicorns are more likely to have public initial offerings and acquisitions, more top 100 firms should come from the greater China area, Liang said.
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