Taishin Financial Holding Co (台新金控) will complete its merger with Taiwan Securities Corp (台証證券) and Taishin Bills Finance Corp (台新票券) on Jan. 1, 2003, with one Taishin Financial share exchanging for 1.2 Taiwan Securities shares and 1.3 Taishin Bills Finance shares, said Taishin Financial Chairman Thomas Wu (吳東亮) yesterday.
After the merger, Taishin Financial would have increased its assets to NT$42 billion from the current NT$30 billion. It will also have access to a network of 133 outlets nationwide, up from the current 88, Wu said.
Wu said the holding company might revise its 2002 financial forecast after the merger. Its earnings are expected to increase 30 percent year-on-year in 2003, he predicts.
Meanwhile, Wu stressed his determination to improve the Taishin International Bank's (台新銀行) asset quality. Taishin bank, a unit of Taishin Financial that wrote off about NT$10 billion in non-performing loans during the first four months this year, is expected to get rid of an additional NT$10 billion in bad loans by the end of the year, Wu said. Its overdue loan ratio would reach 2.5 percent at the end of this year versus 4.56 percent in April, he estimated.
CHAMPIONS: President Lai congratulated the players’ outstanding performance, cheering them for marking a new milestone in the nation’s baseball history Taiwan on Sunday won their first Little League Baseball World Series (LLBWS) title in 29 years, as Taipei’s Dong Yuan Elementary School defeated a team from Las Vegas 7-0 in the championship game in South Williamsport, Pennsylvania. It was Taiwan’s first championship in the annual tournament since 1996, ending a nearly three-decade drought. “It has been a very long time ... and we finally made it,” Taiwan manager Lai Min-nan (賴敏男) said after the game. Lai said he last managed a Dong Yuan team in at the South Williamsport in 2015, when they were eliminated after four games. “There is
Chinese Nationalist Party (KMT) lawmakers have declared they survived recall votes to remove them from office today, although official results are still pending as the vote counting continues. Although final tallies from the Central Election Commission (CEC) are still pending, preliminary results indicate that the recall campaigns against all seven KMT lawmakers have fallen short. As of 6:10 pm, Taichung Legislators Yen Kuan-heng (顏寬恒) and Yang Chiung-ying (楊瓊瓔), Hsinchu County Legislator Lin Szu-ming (林思銘), Nantou County Legislator Ma Wen-chun (馬文君) and New Taipei City Legislator Lo Ming-tsai (羅明才) had all announced they
Nvidia Corp CEO Jensen Huang (黃仁勳) yesterday visited Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), as the chipmaker prepares for volume production of Nvidia’s next-generation artificial intelligence (AI) chips. It was Huang’s third trip to Taiwan this year, indicating that Nvidia’s supply chain is deeply connected to Taiwan. Its partners also include packager Siliconware Precision Industries Co (矽品精密) and server makers Hon Hai Precision Industry Co (鴻海精密) and Quanta Computer Inc (廣達). “My main purpose is to visit TSMC,” Huang said yesterday. “As you know, we have next-generation architecture called Rubin. Rubin is very advanced. We have now taped out six brand new
POWER PLANT POLL: The TPP said the number of ‘yes’ votes showed that the energy policy should be corrected, and the KMT said the result was a win for the people’s voice The government does not rule out advanced nuclear energy generation if it meets the government’s three prerequisites, President William Lai (賴清德) said last night after the number of votes in favor of restarting a nuclear power plant outnumbered the “no” votes in a referendum yesterday. The referendum failed to pass, despite getting more “yes” votes, as the Referendum Act (公民投票法) states that the vote would only pass if the votes in favor account for more than one-fourth of the total number of eligible voters and outnumber the opposing votes. Yesterday’s referendum question was: “Do you agree that the Ma-anshan Nuclear Power Plant