ATM density triple average
The density of automated teller machines (ATMs) in Taiwan’s banking system is three times as high as the average in Asia, the Financial Supervisory Commission said on Thursday. There are 157 ATMs per 100,000 adult bank account holders in Taiwan, while in Asia the overall ratio is 51.8 ATMs, the commission said, citing data from October last year. Taiwan’s ATM density is higher than Japan’s (127.59), Singapore’s (66.46) and Hong Kong’s (51.8), the data showed. In terms of commercial banks, the density in Taiwan is 17.6 branches per 100,000 adult account holders, while Asia averages 9.1, the commission said.
Gogoro still on Cleantech list
Electric scooter producer Gogoro Inc (睿能創意) has made the Global Cleantech 100 for the third time and is the only Taiwanese company to make this year’s list. Gogoro earned a spot in the transportation and logistics category of the Global Cleantech 100, which was released on Thursday, and was praised for making vehicles that are effective for fleets and for the sheer scale of its share in many Asian and emerging markets.
Japan routes announced
Yang Ming Marine Transport Corp (陽明海運) aims to continue enhancing its intra-Asia service network by launching a new Taiwan-Japan service from Sunday, the container shipper announced this month. The new service would provide weekly direct services between Kaohsiung and Osaka, Kobe and Hakata, Yang Ming said. Furthermore, the transit time between Taiwan and Japan’s Kansai region would be shortened by at least one or two days, the shipper said.
HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) has approved two sustainability-linked loans totaling NT$450 million (US$15.55 million) for Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子), the bank said yesterday, adding that interest rates would fall if the borrowers’ sustainability performance improves. Those marked the first sustainability-linked loans granted by HSBC Taiwan, it said. While HSBC Taiwan has experience providing green loans for the nation’s developers of renewable energy sources to support their projects, the bank began focusing on sustainability-linked loans to meet rising demand from companies in other sectors planning to undertake sustainability programs, it said. “As we reward our clients who reach their
‘NEW TRAVEL MARKET’: The carrier initially planned to lay off about 8,000 people globally, but after government intervention reduced that to 18 percent of its workforce Cathay Pacific Airways Ltd (國泰航空) would cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the unprecedented damage caused by the COVID-19 pandemic. The Hong Kong-based airline is expected to officially announce the plan after the market close today, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18 percent of its total workforce, including about 5,000 jobs in Hong Kong, it said. The company, which posted a HK$9.9 billion (US$1.3 billion) loss in the first half, has for months
V-SHAPED RECOVERY: Local tech firms have benefited from strong demand for 5G deployment and electronic devices required for a low-contact economy, CIER said The Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) yesterday raised its forecast for the nation’s GDP growth this year to 1.76 percent, from its previous estimate of 1.33 percent, saying exports and private consumption have staged a V-shaped recovery from the COVID-19 pandemic in the second half of the year. “The upgrade aims to reflect the fast recovery in Taiwan’s exports and domestic demand,” CIER president Chang Chuang-chang (張傳章) told a media briefing. The Taipei-based think tank said the economy might have expanded 2.77 percent last quarter — emerging from a 0.78 percent decline in the second quarter — and would grow
Hon Hai Precision Industry Co (鴻海精密) founder Terry Gou (郭台銘) yesterday said that the company remains committed to its project in Wisconsin, but appeared to condition its completion on the receipt of state incentives, the Wall Street Journal reported. Gou said in a statement that Hon Hai, known as Foxconn Technology Group (富士康科技集團) outside of Taiwan, remains committed to its investment, although “market conditions and the COVID-19 pandemic” have altered the timing of its expansion and the specifics of its manufacturing plans. The company has over the past three years invested US$750 million to transform southeastern Wisconsin into a high-tech