The Ministry of Economic Affairs on Friday approved another six small and medium-sized enterprises (SME) joining a government program aimed at encouraging investment in Taiwan.
Vending machines manufacturer Gold Rain Enterprises Corp (金雨企業), which supplies companies including Uni-President Enterprises Corp (統一企業), Hey Song Corp (黑松) and US slot machine maker International Game Technology (IGT), plans to invest more than NT$300 million (US$9.55 million) by adding a smart production line at its existing plant in Changhua County and setting up a research and development center in Taichung.
Proxene Tools Co (伯鑫工具), which specializes in adjustable wrenches for industrial and professional use, plans to invest more than NT$800 million by establishing a new smart production plant in Taichung’s Shengang District (神岡) to meet market demand and improve production efficiency.
Proxene’s investment is to provide 21 job opportunities, the ministry said.
Techplasma Technology Co (美上鎂科技), which acquired technology from Germany-based AHC Oberflachentechnik GmbH to perform industrial surface treatment of metals, plans to invest more than NT$1.5 billion by setting up a new plant in Nantou County’s Nangang Industrial Park (南崗工業區) to implement environmentally friendly procedures in its production.
The company would offer an estimated 27 jobs, the ministry said.
Arden Precision Technology Co (高偉精密), which specializes in the production of routing tools for wood, plastic, composite materials and metals, plans to invest more than NT$400 million by adding an automated production line and purchasing automated machinery equipment at its plant in Taichung’s Refined Mechanics Industrial Park (台中精密機械科技園區).
The company is to recruit about 26 local professionals, the ministry said.
The total investments in Taiwan pledged by Taiwanese firms with overseas operations is forecast to surpass NT$600 billion this month, the ministry said on Saturday.
So far this year, 123 Taiwanese firms with overseas operations have announced plans to invest in Taiwan, bringing in about NT$568.2 billion in total, while more than 30 more firms have filed applications to enroll in the program, the ministry said.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB