Yulon, GM forge alliance
Yulon Motor Co (裕隆) and General Motors Corp of the US are expected to sign a memorandum today to forge cooperative relations between the two companies, according to a statement released yesterday by Yulon Motor.
The statement said that the expected ties are one of Yulon Motor's efforts to form contacts with various brand name companies for original equipment manufacture to enhance its output capability. Under the new relationship, Yulon Motor will manufacture many models of vehicles with brand names belonging to GM, including Buick.
CPC to set up shop in Yunlin
A plan by the Chinese Petroleum Corp (CPC, 中油) to build a petrochemical industrial park in central Yunlin County has gained a warm response from the domestic industry, prompting a CPC executive to call for government assistance for the investment project.
CPC president Chen Bao-lang (陳寶郎) issued the call earlier this week after having repeatedly explained the investment project to mid and downstream businesses in the industry. According to Chen, the major investment plan, valued at more than NT$300 billion (US$9.1 billion), will be one of the biggest investment projects that CPC has launched in recent years.
As an upstream supplier of crude materials to industry, the CPC is keen on creating an industrial park with the participation of mid and downstream companies, he said.
NT dollar rises slightly
The New Taiwan dollar yesterday held onto its gains against the US dollar, rising NT$0.006 to close at NT$32.444 on the Taipei foreign exchange market.
Turnover was US$499 million.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
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