Hsieh accepts `shit' resignation
Premier Frank Hsieh (謝長廷) said yesterday that he has approved the resignation of Steve Shieh (謝壽夫), chairman of First Financial Holding Co (第一金控), while there has been no decision yet as to Shieh's successor.
Hsieh made the remark while fielding a question by opposition Chinese Nationalist Party (KMT) lawmaker Lee Sen-zong (李顯榮) during a legislative answer-and-question session.
Shieh offered to step down after a controversy erupted when he used the English expletive "shit" during a heated exchange with another KMT lawmaker, Alex Fei (費鴻泰) last Thursday.
LCDs to replace old TVs
Shipments of liquid-crystal-display (LCD) televisions are expected to expand rapidly to 46.8 million units in 2008 from an estimate of 8.8 million in 2004 on the road to replace traditional cathode-ray-tub (CRT) sets, market researcher DisplaySearch projected yesterday.
In 2008, sleek LCD TVs will account for about a quarter of overall 213.1 million TV sets shipped. Last year, the more expensive TV sets merely made up a small 5 percent of the total TV market.
During the four-year period, shipments of boxy CRT TVs will continue to fall to around 145.7 million units from 164.8 million in 2004. Penetration rate will drop to 68 percent from 90 percent.
Global TV shipments are expected to increase at a 4 percent composite average annual rate to 213.1 million units in 2008, from 181.9 million units in 2004.
Teco lost NT$400 million
Teco Electric & Machinery Co (東元電機), a leading television vendor in Taiwan, said yesterday that it swung into losses of NT$400 million last year resulting from NT$800 million in asset impairment.
The result came as Teco board decided on an early adoption of stricter accounting rules. The rules, Financial Accounting Standard 35, require local companies to post 2005 financial results by restating their idled assets, or goodwill from mergers.
Teco previously said it would earn NT$390 million last year.
Hynix may partner Taiwan
Hynix Semiconductor Inc of South Korea may partner Taiwan companies such as Power Quotient International Co (勁永國際) to boost its NAND flash memory business.
Power Quotient Chairwoman Jance Lu (呂美月) said the company is in talks with an international memory chipmaker to form a strategic partnership and denied that the negotiating party was Hynix.
Shares of Power Quotient, which makes computer memory modules and flash memory storage deveices, have been restricted to cash transaction only on March 18 by the Taiwan Stock Exchange, amid allegations the company inflated revenue figures for last year.
Screen sales fail expectations
Sales of organic screens used in mobile phones and MP3 players are failing to meet projections amid a slow increase in production, researcher ISuppli Corp said.
Sales of organic light-emitting diode, or OLED, displays will rise 51 percent to US$615 million this year. That's 20 percent less than its industry projection six months ago. Shipments are poised to jump 92 percent to 60 million units, which would be 13 percent less than a September projection.
"It is clear at this point that (OLED) manufacturing is ramping up slowly," said Kimberly Allen, the author of ISuppli's latest semiannual report on the industry.
NT trades lower
The New Taiwan dollar traded lower yesterday against its US counterpart, declining NT$0.054 to close at NT$31.609 on the Taipei foreign exchange market.
Turnover was US$573 million.
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the
SCATTERED: Production would be dispersed among a number of countries, which would bring an end to so-called world factories, Hon Hai chairman Young Liu said Decentralized production would be the new focus in manufacturing, Hon Hai Precision Industry Co (鴻海精密) chairman Young Liu (劉揚偉) yesterday told an online forum held by the Market Intelligence & Consulting Institute (MIC, 產業情報研究所). “The COVID-19 pandemic exerted a heavy impact on supply chains as well as production ... [production] would no longer be concentrated in solely one country, this is the end of what we used to call world factories,” Liu said during a panel discussion hosted by MIC director Victor Tsan (詹文男). As the US and China continue to dominate and sway international relations, the rest of the world is
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five