Nan Ya Plastics Corp (南亞塑膠), the nation’s largest plastics maker, yesterday elected president Wu Chia-chau (吳嘉昭) as its new chairman. Wu is due to take office on Monday.
He is also the chairman of Nanya Technology Corp (南亞科技), the nation’s top DRAM chipmaker and a subsidiary of Nan Ya.
“It is an honor and a great challenge to serve as the chairman of Nan Ya, and I will try my best to fulfill my duty,” Wu said by telephone.
PICKUP
He said the company’s outlook would improve in the second half of the year on a solid rebound in the global economy. He did not elaborate.
Nan Ya reported net profit of NT$6.94 billion (US$230 million) in the first quarter, up 541 percent from NT$1.02 billion a year ago, thanks to investment gains in Nanya Technology and Formosa Petrochemical Corp (台塑石化).
The company is forecast to make a profit of NT$28.25 billion this year, up from NT$4.22 billion last year, Credit Suisse said in a note on June 6, citing Nanya Technology’s potential to break even this year.
Nanya Technology reported losses of NT$36.04 billion last year.
RETIRING
Outgoing chairman Wu Chin-jen (吳欽仁) has decided to retire after working at the Formosa Plastics Group (台塑集團) for 48 years. He was among the first people to study naphtha cracking technology in Taiwan and helped build the group’s polyvinyl chloride factory in Texas in the US.
“My family needs me to spend more time with them,” he said on the sidelines of the company’s annual shareholders’ meeting.
Shareholders approved plans to distribute a cash dividend of NT$0.40 and a stock dividend of 1 percent, based on last year’s earnings of NT$4.22 billion, or NT$0.54 per share.
Nan Ya’s shares rose 2.09 percent to NT$58.70 yesterday, outperforming the TAIEX, which was down 0.45 percent.
Elon Musk’s lieutenants have reached out to chip industry suppliers, including Applied Materials Inc, Tokyo Electron Ltd and Lam Research Corp, for his envisioned Terafab, early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla Inc and Space Exploration Technologies Corp (SpaceX) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers and other tools, according to the people, who asked not to
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
JET JUICE: The war on Iran’s secondary effects have seen fuel prices skyrocket, knocking flight schedules down to earth in return as airlines struggle with costs Airline passengers should brace for more irritation in the next few months as carriers worldwide cancel flights and ground planes to cope with stratospheric increases in jet-fuel prices. Dutch flag carrier KLM is the latest company to cut its schedule, saying on Thursday that it would scrap 80 return flights at Amsterdam’s Schiphol Airport in the coming month. That puts it in the same league as United Airlines Holdings Inc, Deutsche Lufthansa AG and Cathay Pacific Airways Ltd, which have all pruned itineraries to mitigate costs. Global capacity for next month has been reduced by about 3 percentage points, with all
Taiwan is attracting a growing number of foreign jobseekers as companies increasingly recruit overseas talent to ease labor shortages and expand global reach, recruitment platform 104 Job Bank (104人力銀行) said yesterday. More than 40,000 foreign nationals searched for jobs in Taiwan through the platform last year, a 28 percent increase from a year earlier, the company said. Malaysians accounted for the largest share of overseas jobseekers at 12.2 percent, followed by Indonesians at 11.9 percent and Vietnamese at 10.8 percent. Indonesian applicants surged more than 50 percent year-on-year, while Vietnamese jobseekers rose by more than 30 percent. Applicants from the
RSS