Premier Liu Chao-shiuan (劉兆玄) yesterday threw his support behind Financial Supervisory Commission (FSC) Chairman Sean Chen (陳冲), who rejected a suggestion by President Ma Ying-jeou (馬英九) on Friday that the government delay a revised inventory accounting rule out of consideration for businesses whose margins have been affected by the economic downturn.
Liu said the FSC would stick to its position on implementing the inventory accounting rule, called the International Accounting Standards Statement No. 10.
“The FSC has announced the new accounting rule. We will listen to the opinions of others and take them into consideration, but implementing the rule was already determined,” Liu said.
Liu said the government would consider proposing supportive measures for the new rule, which requires listed companies to mark-to-market their inventories in financial reports. He declined to elaborate.
On Thursday, the Presidential Office’s economic advisory committee suggested the government temporarily suspend the implementation of the rule, citing concerns of margin erosion by businesses.
Yesterday, the Presidential Office said it would respect the Cabinet’s decision on whether or not to suspend the implementation of a revised accounting rule even though Ma had called on the Cabinet to reconsider the accounting rule’s implementation during a meeting with business representatives at the Hsinchu Science Park (新竹科學園區).
Presidential Office spokesman Wang Yu-chi (王郁琦) said yesterday that Ma made the remarks on Friday to reflect the opinions of the high-tech industry, and the Presidential Office would not interfere with the Cabinet’s decision on the matter.
“President Ma understands that many business groups had different opinions about the new rule, but as economic issues were involved, we will respect the FSC and the Cabinets’ decision on whether or not to delay the implementation,” Wang said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.