Investment by small and medium-sized enterprises (SME) has totaled NT$34.4 billion (US$1.13 billion) since a government program to help firms cope with the US-China trade dispute was launched in July, the Ministry of Economic Affairs said yesterday after it approved six companies’ applications for a combined investment of NT$1.5 billion.
Ua Wood Floors Inc (誌懋), a Yunlin County-based company which has provided wood flooring for prestigious buildings including the Pentagon and the Burj Khalifa in Dubai, United Arab Emirates, is to invest NT$200 million setting up a stone plastic composite floor manufacturing facility in the Chiayi Machouhou Industrial Park (嘉義馬稠後產業園區) which is to create 55 job opportunities, the ministry said.
Hosiery maker Chiun Jiun Enterprise Co Ltd (群竣實業) is to invest more than NT$80 million establishing a smart production facility in Changhua County’s Hosiery Industrial Park (彰化社頭織襪產業園區), the ministry said, adding that the company would create 13 job opportunities.
Built-in Precision Machine Co (妙印精機), which specializes in professional screen printing machines for the optoelectronic and printed circuit board industries, is to invest more than NT$200 million in a smart production facility in the Taichung Wufeng Industrial Park (臺中霧峰工業區) as the company looks to expand its capacity due to increasing market demand.
The firm also plans to set up a research-and-development center focused on artificial intelligence technologies, the ministry said, adding that 28 job opportunities are expected to be created.
Buffalo Machinery Co (達佛羅), which operates the brands Microcut and Axile that ensure high energy efficiency and high productivity of machinery equipment, is to invest more than NT$400 million in Taichung’s Daya District (大雅) setting up a five-axis machine tool facility.
The company is to create 74 job opportunities, the ministry said.
Taichung-based Hong Ming Casting Co (宏名鑄造) plans to invest NT$300 million setting up a new plant and installing a high-frequency induction furnace in Miaoli County’s Sanyi Township (三義).
Hong Ming plans to install smart machinery in the plant which would create 46 job opportunities, it said.
Hand tool manufacturer Rungsee Industry Co (龍熙企業) is to invest more than NT$100 million expanding its plant in the Taichung Dali Industrial Park (臺中大里工業區) by adding smart production lines and replacing equipment, it said, adding that the company would create 10 job opportunities.
The six companies would also receive assistance in areas such as financing, taxes and securing resources, including land, water and electricity, the ministry said.
The Executive Yuan is to increase the program’s budget from NT$20 billion to NT$100 billion, it said earlier this week.
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
’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
Nintendo Co is raising its target for Switch production to about 25 million units this fiscal year, people familiar with the matter said, as the ongoing COVID-19 pandemic keeps lifting demand and component shortages ease. The Kyoto, Japan-based company, which in April hiked orders to 22 million units by March next year, is asking partners to tack on another few million units, said the people, who did not want to be identified discussing internal goals. Assembly partners plan to work at maximum capacity through December. The new production target suggests that Nintendo is likely to outperform its Switch sales forecast of 19 million
‘BIG LOSS’: This year might see the last generation of Huawei’s Kirin chips, as their production would stop next month because they are made using US technology Chinese tech giant Huawei Technologies Co (華為) is running out of processor chips to make smartphones due to US sanctions and would be forced to stop production of its own most advanced chips, a company executive has said, in a sign of growing damage to Huawei’s business from US pressure. Huawei, one of the biggest producers of smartphones and network equipment, is at the center of US-Chinese tension over technology and security. Washington last year cut off Huawei’s access to US components and technology, and those penalties were tightened in May, when the White House barred vendors worldwide from using US