GOVERNMENT
Tax changes to be submitted
Minister of Finance Chang Sheng-ford (張盛和) said yesterday that the ministry might submit the revised version of the luxury tax to the legislature next month at the earliest. The new legislative session will formally open on Sept. 17. “We are collecting opinions from various aspects and analyzing necessary coordinated measures for revising the luxury tax,” Chang said.
FOREIGN EXCHANGE
Exchange reserves rise
The nation’s foreign exchange reserves increased by US$270 million last month from July, bringing total reserves to US$409.39 billion, the central bank said in a statement on Thursday. The central bank said the slight increase in foreign exchange reserves last month was the result of the depreciation of the euro and other currencies against the US dollar, which was less than returns from the bank’s management of its reserves.
INDUSTRY
AIDC strikes deal with GE
Aerospace Industrial Development Corp (AIDC, 漢翔航空) yesterday said a new contract with engine maker GE Aviation could create NT$2 billion (US$67.19 million) in sales for the company. The state-run company said the contract signed on Thursday would allow it to produce airplane engine model CFM56 over the next four years. Over the past 15 years, AIDC has received up to NT$3.5 billion in orders from GE Aviation.
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.
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