Sector sees growth: CIER
Local manufacturing activity continued to signal moderate expansion last month despite a drop in the purchasing managers index (PMI) due to the effects of the Lunar New Year holiday, the Chung-Hua Institution for Economic Research (中華經濟研究院) said yesterday. The PMI was down 3.8 points from January, but managed to remain above 50 at 50.3, the CIER said. A PMI reading of above 50 indicates expansion in manufacturing activity, while a figure below 50 signals contraction. Among the five subindices in the PMI, three — employment, inventory and supplier deliveries — showed expansion last month, while the other two — new orders and production — showed contraction.
Cliff Lai to lead Taiwan Star
Cliff Lai (賴弦五), former president of Taiwan Mobile Co (台灣大哥大), yesterday took up his new job as president of Taiwan Star Cellular Corp (台灣之星), which has just entered the country’s 4G market. Lai stepped down as president of Taiwan’s second-largest carrier in January for health reasons, according to Taiwan Mobile. Taiwan Star, a unit of the Ting Hsin International Group (頂新國際集團), plans to begin operation of its 4G network in the third quarter of this year. The company’s acquisition of loss-making Vibo Telecom Inc (威寶電信) is expected to be completed by the end of next month.