BANKING
CTBC plans for Tokyo Star
CTBC Financial Holding Co (中信金控) plans to restructure recent acquisition Tokyo Star Bank Ltd in the next three years, CTBC President Daniel Wu (吳一揆) said at the company’s annual shareholders’ meeting yesterday. He said the restructuring plan would focus on strengthening the Japanese bank’s corporate and personal banking divisions. Beyond CTBC’s own banking presence in Japan, it has also signed memorandums of understanding with 15 financial institutions there that will help it tap into the small and medium-sized enterprise market and heighten its role in the country’s financial markets, the CTBC president said.
TECHNOLOGY
Sales of panels rise in May
Global shipments of large-sized panels rose in May, driven by better sales of laptop and tablet computers, a local flat screen research institute said yesterday. May shipments were 69.41 million units worldwide, up 6.3 percent from April, with sales of tablet panels growing at a faster rate than other categories, WitsView said in a research note.
Tablet panel shipments rose 12.4 percent month-on-month to 18.11 million units in May, while TV panel shipments were up 1.5 percent month-on-month and 2.3 percent year-on-year to 20.81 million units, the note added.
Large-sized panel shipments in June will be on a par with those of May, WitsView said, but growth will be offset by declines in shipments of TV, monitor and laptop panels.
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
An Indian factory producing iPhone components resumed work yesterday after a fire that halted production — the third blaze to disrupt Apple Inc’s local supply chain since the start of last year. Local industrial behemoth Tata Group’s plant in Tamil Nadu, which was shut down by the unexplained fire on Saturday, is a key linchpin of Apple’s nascent supply chain in the country. A spokesperson for subsidiary Tata Electronics Pvt yesterday said that the company would restart work in “many areas of the facility today.” “We’ve been working diligently since Saturday to support our team and to identify the cause of the fire,”
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
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