TECHNOLOGY
TSMC value reaches record
The market value of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chip maker, set a new record yesterday as the benchmark TAIEX closed at its highest level in nearly three years on 9,036.12 points. TSMC’s market value rose to NT$3.2 trillion (US$106.26 billion) when its shares rose to NT$123.5 in the final hour of trading — the highest since the Hsinchu-based company went public on 1994 — before closing at NT$123, up 0.82 percent from a day earlier. TSMC shares have risen 14.2 percent since the beginning of the year on the back of steady sales growth driven by its advanced manufacturing technology and strong demand for chips used in mobile devices, such as smartphones and tablet computers.
RESTAURANTS
US brand to enter Taiwan
US restaurant chain the Cheesecake Factory Inc is planning its first outlet in Taiwan as part of an international expansion plan, but the exact location of the restaurant and when it will open are yet to be confirmed. Cheesecake Factory said in a statement that it has entered into an exclusive licensing agreement with Hong Kong-based Maxim’s Caterers and plans the development of at least 14 restaurants over the next decade in Taiwan, Hong Kong, Macau and China. The first restaurant is expected to open in the next fiscal year in Hong Kong, the company said.
EXTRATERRITORIAL REACH: China extended its legal jurisdiction to ban some dual-use goods of Chinese origin from being sold to the US, even by third countries Beijing has set out to extend its domestic laws across international borders with a ban on selling some goods to the US that applies to companies both inside and outside China. The new export control rules are China’s first attempt to replicate the extraterritorial reach of US and European sanctions by covering Chinese products or goods with Chinese parts in them. In an announcement this week, China declared it is banning the sale of dual-use items to the US military and also the export to the US of materials such as gallium and germanium. Companies and people overseas would be subject to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
WORLD DOMINATION: TSMC’s lead over second-placed Samsung has grown as the latter faces increased Chinese competition and the end of clients’ product life cycles Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained the No. 1 title in the global pure-play wafer foundry business in the third quarter of this year, seeing its market share growing to 64.9 percent to leave South Korea’s Samsung Electronics Co, the No. 2 supplier, further behind, Taipei-based TrendForce Corp (集邦科技) said in a report. TSMC posted US$23.53 billion in sales in the July-September period, up 13.0 percent from a quarter earlier, which boosted its market share to 64.9 percent, up from 62.3 percent in the second quarter, the report issued on Monday last week showed. TSMC benefited from the debut of flagship
TENSE TIMES: Formosa Plastics sees uncertainty surrounding the incoming Trump administration in the US, geopolitical tensions and China’s faltering economy Formosa Plastics Group (台塑集團), Taiwan’s largest industrial conglomerate, yesterday posted overall revenue of NT$118.61 billion (US$3.66 billion) for last month, marking a 7.2 percent rise from October, but a 2.5 percent fall from one year earlier. The group has mixed views about its business outlook for the current quarter and beyond, as uncertainty builds over the US power transition and geopolitical tensions. Formosa Plastics Corp (台灣塑膠), a vertically integrated supplier of plastic resins and petrochemicals, reported a monthly uptick of 15.3 percent in its revenue to NT$18.15 billion, as Typhoon Kong-rey postponed partial shipments slated for October and last month, it said. The
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