Finance ministry to issue bonds
The Ministry of Finance said yesterday it plans to issue NT$145 billion (US$4.8 billion) in government bonds in the third quarter to roll over some of its maturing paper.
Of the bonds to be sold, NT$40 billion are five-year bonds, NT$40 billion are 10-year bonds, NT$30 billion are 20-year bonds and NT$35 billion are 30-year bonds, the ministry said in a statement posted on its Web site.
The ministry also plans to issue NT$40 billion in treasury bills next quarter, according to the statement.
In the current quarter, the ministry issued NT$170 billion in bonds and NT$50 billion in treasury bills.
Hon Hai to invest at home
Hon Hai Group (鴻海) chairman Terry Gou (郭台銘) yesterday said he would announce investment plans in Taiwan next month, as the group plans to take advantage of the nation’s economic recovery and a rich pool of local talent, local cable TV network UBN quoted Gou as saying.
Gou did not specify the content of the investment plans, saying the group plans to formally announce the plans after Hon Hai holds its annual general meeting tomorrow at the company’s headquarters in New Taipei City’s Tucheng District (土城).
In February, Hon Hai, the world’s largest contract electronics maker, announced that it would recruit 15,000 engineers in Taiwan this year.
CSBC to build oil carriers
CSBC Corp, Taiwan (CSBC, 台灣國際造船), the nation’s only listed shipbuilder, yesterday signed a contract to build two product carriers of 40,000 deadweight tonnes for state-owned oil refiner CPC Corp, Taiwan (台灣中油) at the price of NT$2.58 billion.
CSBC may deliver the two carriers to CPC by the end of 2016, company president Chen Feng-lin (陳豊霖) said.
Rent cars like YouBike: Hotai
Hotai Leasing Corp (和運租車) aims to make renting a car “quicker and more enjoyable,” with just the swipe of a card, thanks to new automated nationwide services, the company said.
Drivers need only install the iRent app on their smartphones, which allows them to use their stored-value EasyCards as membership cards to rent from designated parking lots at any time of day, the company said at a press conference.
“It is like a car version of YouBike system,” the promoters said, referring to Taipei’s pervasive automated public bicycle kiosks.
There are only two iRent sites in Taipei currently, but the promoters said the total is expected to increase to 20 by the end of this year and to more than 50 by the end of next year to cover airports and high-speed rail stations across the country.
Hotai Leasing is a subsidiary of Hotai Motor Co (和泰汽車), the nation’s largest automobile retailer.
Largan sets share record
Shares of Largan Precision Co (大立光), which supplies smartphone camera lens products, set a record for local electronics stocks yesterday as they closed up at NT$2,255 after hitting a record high of NT$2,310 earlier in the day.
The impressive showing boosted the company’s market value to more than NT$300 billion.
The Environmental Protection Administration plans to hold an assessment meeting tomorrow about the company’s development project in the Taichung City Precision Machinery Innovation Technology Park.
Largan plans to invest NT$10.2 billion for a plant next to the Taichung park, creating about 5,000 jobs.
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
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,”
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
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