Cathay Life Insurance Co (國泰人壽) yesterday said it broke ground on its third logistics facility in Taichung’s Wuri District (烏日), which is part of the life insurer’s NT$30 billion (US$901.7 million) bid to tap the logistics business.
In 2014, Lin Yuan Group (霖園集團) purchased a 51 percent stake in Ally Logistic Property (永聯物流) via an investment subsidiary, aiming to introduce advanced logistic solutions to Taiwan. Cathay Financial Holding Co (國泰金控) is the group’s flagship company.
Ally Logistic Property plans to invest NT$30 billion to build a warehouse and storage facilities on land secured through public sector contracts by Cathay Life throughout the nation.
“Most corrugated metal-roofed warehouses in Taichung do not conform to fire safety and efficiency standards. Through the project, we hope to fill the demand for advanced logistics services that can be tailored for the needs of every client,” Ally Logistic Property chairman Charlie Chang (張建泰) said.
In addition, the conglomerate’s foray into logistics is to provide it with data and a testing ground for Cathay United Bank’s (國泰世華銀行) new logistics financing service, which is to allow companies to use warehoused inventory as collateral for loans.
The NT$3.1 billion logistics center adjacent to the Taiwan High Speed Rail Taichung Station in Wuri spans 36,355m2 and offers convenient access to major cities along the west coast within an hour’s travel time, the conglomerate said.
Cathay Life has secured the rights to use the land for 30 years, it said.
The facility is expected to provide logistical support to several of Taichung’s industries, including precision machinery, bicycles, medical technology, biotechnology and aerospace engineering, the conglomerate said, adding that it is expected to be completed in the third quarter of next year.
The company’s first logistics center in New Taipei City’s Ruifang District (瑞芳) began operations in 2014 and facilitates the sale of luxury goods and home appliances by cross-border e-commerce vendors. Its second facility in Taoyuan’s Dayuan District (大園) provides logistical support for sales of consumer goods and industrial materials.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
RSS