Green liquidation approved
Solar wafer maker Green Energy Technology Inc (綠能科技) on Friday last week said that shareholders had approved its liquidation plan. The company, a subsidiary of Tatung Co (大同), said its production costs have exceeded selling prices, so the company continues to sustain losses and has no cash flow. The company was delisted from the local over-the-counter stock market in May due to its heavy financial burden. An exact liquidation timetable is pending a decision by liquidators, it said.
Commission OKs Micron plan
The Investment Commission on Wednesday last week said it had approved US DRAM chipmaker Micron Technology Inc’s plan to invest NT$66 billion (US$2.1 billion) in Taiwan through its subsidiary Micron Technology BV in the Netherlands. The commission did not disclose details about the investment. The commission also approved two Taiwan-bound investment projects valued at about NT$2.1 billion and NT$3.3 billion each to invest in drone development and acquire a stake in a Taiwanese biotech company, it said in a statement.
Dynamic seeks jobs deals
Printed circuit board maker Dynamic Electronics Co (定穎電子) on Wednesday last week said that it was holding discussions with other businesses in the industry on the possibility of them absorbing some of its employees ahead of a massive layoff due to the impending closure of its factory in Taiwan. Dynamic, which plans to let go most of the plant’s 490 workers, said it is in talks with seven other circuit board manufacturers, which are looking for about 500 employees. The company plans to hold a job fair at the end of this month to provide more information.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range