CAL selloff planned
The government plans to sell up to 30 percent of China Airlines (CAL) by the end of the year to speed up privatization of the island's leading carrier, it was reported yesterday.
The China Aviation Development Foundation (CADF), which has a controlling 72 percent stake in CAL, hopes to accelerate auctions of CAL shares, a Chinese-language newspaper quoted the foundation chairman, Lin Ling-san, as saying.
The CADF was slated to hold a board meeting on Monday to decide on the prospective share auction, said Lin, who is also transportation and communications minister.
CADF hopes to sell the stake to other domestic or international airlines, or companies with strong management teams, the paper said.
Two foreign holding companies, Salomon Smith Barney and China Development Financial Holding Corp, have voiced interest in the carrier, it added.
Compal aiming high
Compal Electronics Inc aims to become the world's largest notebook computer maker next year after tripling production in China for customers like Dell Computer Corp and Toshiba Corp, a Chinese-language newspaper said yesterday, citing unidentified Compal officials. Compal, Taiwan's second-largest notebook PC maker, expects to ship 6 million laptops next year, about 80 percent of which will come from the company's facilities in Kunshan, a city near Shanghai, the report said. Compal has gotten the jump on larger Taiwan rival Quanta Computer Inc by setting up manufacturing in China under a shell company before the Taiwan government official allowed local makers to invest in production on the mainland, the report said. Compal said its August sales rose 61 percent from the same period a year ago to NT$9 billion (US$2.598 million). Quanta said August sales rose 7.4 percent from the same month a year ago to NT$10.2 million.
US products showcased
The New Products USA 2002 expo opens today in Kaohsiung for two days, the The American Institute in Taiwan announced yesterday. Held at the Kaohsiung Howard Plaza Hotel, the trade event brings together representatives of the US Department of Commerce and seven US states representing more than 250 American companies seeking partners in the Taiwan market. US Deputy Assistant Secretary of Commerce for Export Promotion Services Neal Burnham, Kaohsiung City Government Deputy Mayor Hou Ho-shong and AIT Kaohsiung Branch Chief Robert Forden will open the show with a ribbon-cutting ceremony.
Janus expanding in Taiwan
Janus International, the overseas unit of the sixth-biggest US mutual fund manager, is expanding its business in Taiwan to tap a market where it says 400,000 households have more than US$100,000 to invest. Janus, which has been selling seven of its global funds through Citigroup Inc in the country for a year, plans to sell those and two additional funds to Taiwanese investors through 40 local banks with 2,800 branches from as soon as next month. The proposal is awaiting government approval, Janus said. Denver-based Janus plans to increase its funds in Taiwan to US$1 billion from US$600 million over the next two years, Richard Garland, Janus International's chief executive, said.
NT dollar gains
The NT dollar gained against the US dollar on the Taipei Foreign Exchange yesterday, adding NT$0.096 to close at NT$34.685. A total of US$597 million changed hands.
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
AVIATION: Despite production issues in the US, the Taoyuan-based airline expects to receive 24 passenger planes on schedule, while one freight plane is delayed The ongoing strike at Boeing Co has had only a minor impact on China Airlines Ltd (CAL, 中華航空), although the delivery of a new cargo jet might be postponed, CAL chairman Hsieh Su-chien (謝世謙) said on Saturday. The 24 Boeing 787-9 passenger aircraft on order would be delivered on schedule from next year to 2028, while one 777F freight aircraft would be delayed, Hsieh told reporters at a company event. Boeing, which announced a decision on Friday to cut 17,000 jobs — about one-tenth of its workforce — is facing a strike by 33,000 US west coast workers that has halted production
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more
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