Standard Bank of South Africa Ltd secured a two-year syndicated loan of US$130 billion yesterday from 11 banks, including the Bank of Taiwan (台灣銀行), Chinatrust Commercial Bank (中信銀), the Export-Import Bank of ROC (輸出入銀行) and Jih Sun International Bank (日盛國際商銀), creditors of the loan said in press statements.
The Taiwanese banks had oversubscribed the loan by 30 percent on the African bank’s request for a US$100 million loan, the statements said.
The loan will be used to fund the management and corporate lending businesses in South Africa, Chinatrust said.
Meanwhile, the Changhwa-based Hwa Fong Rubber Industry Co (華豐橡膠) and its subsidiary HFR Holding Corp (華豐維京控股) secured syndicated loans of NT$800 million (US$24.8 million) and US$15 million respectively yesterday from 10 domestic banks, led by the Industrial Bank of Taiwan (IBT, 台灣工業銀行), IBT said in a press statement.
The loan will be used to fund the tire manufacturer’s operations and improve its finances, the statement said.
As a vote of confidence in Hwa Fong, the 10 banks wished to oversubscribe the loan one-fold, the statement said.
Thanks to a decline in raw rubber material since the second half of last year, Hwa Fong reported a 10-fold increase in earnings per share to NT$0.5 for the first three quarters of this year, the bank said.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
SECTOR LEADER: TSMC can increase capacity by as much as 20 percent or more in the advanced node part of the foundry market by 2030, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to lead its peers in the advanced 2-nanometer process technology, despite competition from Samsung Electronics Co and Intel Corp, TrendForce Corp analyst Joanne Chiao (喬安) said. TSMC’s sophisticated products and its large production scale are expected to allow the company to continue dominating the global 2-nanometer process market this year, Chiao said. The world’s largest contract chipmaker is scheduled to begin mass production of chips made on the 2-nanometer process in its Hsinchu fab in the second half of this year. It would also hold a ceremony on Monday next week to
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