■ CPC to hike gas prices
Chinese Petroleum Corp (中油) announced price hikes on wholesale gasoline and diesel by NT$0.6 per liter, an average increase of 3.56 percent. The price adjustment went into effect at midnight last night. Smaller oil refiner Formosa Petrochemical Corp (台塑石化) said they would decide today whether to follow suit or not.
■ ProMOS signs loan
ProMOS Technologies Inc (茂德科技), one of Taiwan's largest memory chipmakers, said yesterday it signed a NT$3 billion syndicated loan on buying new equipment for an advanced 12-inch plant in Hsinchu Science-based Industrial Park (新竹科學園區). Nine domestic lenders including Taiwan Cooperative Bank (合作金庫) and Hsinchu International Commercial Bank (新竹國際商銀) signed the loan contract, the company said in a statement. ProMOS expected at least half of its output will come from the advanced 12-inch plant in the second half of the year. ProMOS currently has one 8-inch and one 12-inch fabs in operation. The company is slated to build its second 12-inch fab in Taichung next month.
■ Hon Hai buys Dominant shares
Hon Hai Precision Industrial Co (鴻海精密), one of Taiwan's largest makers of electronics components, reported yesterday its fully-owned subsidiary Foxconn (Far East) Ltd had acquired 47-million-euros-worth of shares in Dominant Elite Holdings Ltd under Thomson SA, a leading manufacturer of consumer electronics based in France. Hon Hai could acquire manufacturing technology in key components of optical memory products like DVD and MP3 players through the deal, helping strengthen its foothold in the component, module, move and services (CMMS) sector, the company said in a statement. The company started undertaking its transformation scheme in 2002, aiming to become a leading high-tech company in the integrated optoelectronics and electrical machinery industry by 2008. Hon Hai is scheduled to hold its annual shareholder's meeting on June 10 to report on the progress in the acquisition of wireless equipment maker Ambit Microsystem Corp (國電) as well as to re-elect board members.
■ Alcatel to set up R&D center
Handset maker Alcatel yesterday signed a contract with the Ministry of Economic Affairs to inaugurate the Alcatel Taiwan ICT R&D Applications Center, marking the fist telecom company to set up a research center in Taiwan. The center will focus on the broadband wireless applications market. The key areas for research range from E2E solutions, 2.5G/3G solution Interoperability testings (IOT), 3G/B3G Real Time Call Control technology and other wireless broadband applications such as communications middle-ware technology..
■ Cap company bounces checks
San Sun Hat & Cap Co (三勝製帽), Taiwan's largest maker of baseball caps, bounced NT$20 million in checks after an uprising in Haiti forced the company to shut its factory, ETTV reported, citing chairman Day Sheng-tong (戴勝通). The company invested NT$200 million in Haiti in 2000 as part of Taiwan's commitment to maintaining diplomatic relations, the report said. The company has asked the Taiwan government to provide loans to bail it out, the report said. Haiti is one of 27 countries that recognizes Taiwan.
■ NT dollar moves up
The New Taiwan dollar yesterday moved up by NT$0.034 to NT$33.251 against the US greenback on turnover of US$478 million on the Taipei foreign exchange market.
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
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