FOODSTUFFS
New Taisun manager named
Food and cooking oil supplier Taisun Enterprise Co (泰山企業) announced yesterday that it has named board director Chan Yi-hung (詹逸宏) to take the general manager post from Kenneth Chan (詹岳霖). Kenneth Chan will retain his post as Taisun’s chairman, but is likely to lose his control of the company at an extraordinary shareholders’ meeting to elect new board directors on April 25. That is the latest development in the company’s ownership infighting as board members led by Chan Chin-chia (詹晉嘉) and others, who are cousins of Kenneth Chan, have demanded the latter to step down over his performance. Taisun’s board also annouced no dividend payout plan for last year.
REAL ESTATE
TFCC posts record profit
State-run Taipei Financial Center Corp (TFCC, 台北金融大樓公司), which operates the Taipei 101 skyscraper, yesterday posted a record profit of NT$2.1 billion (US$64.76 million) for last year, or earnings of NT$1.39 per share. The results translated into an 18 percent increase from the levels in 2014, thanks to a modest pickup in rental yields and stable tourism revenues. The board also approved plans to distribute NT$1.25 per share in cash dividend, representing a payout ratio of nearly 90 percent.
PULP AND PAPER
Chung Hwa margin rises
Chung Hwa Pulp Co (中華紙漿) yesterday reported last year’s operating margin increased to 10.8 percent from 6.6 percent a year ago, driven by the company’s improved product portfolio in higher-end paper manufacturing. Revenue for last year fell 0.7 percent to NT$20.99 billion, but net profit increased to NT$779.72 million, with earnings per share of NT$0.66 per share, up from NT$0.02 in the previous year. Chung Hwa Pulp said its efforts to integrate production and marketing resources with its parent group — YFY Inc (永豐餘投資控股) — has helped lower risks from fluctuating pulp prices worldwide and excess inventory. The company told an investors’ conference it aims to increase revenue contribution from high-end paper and plan to begin volume manufacturing at two production lines in Guangdong during the second quarter.
SEMICONDUCTORS
ASE increases SPIL stake
Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) yesterday raised its stake in rival Siliconware Precision Industries Co (SPIL, 矽品精密) to 32.99 percent, from 31.42 percent on Monday, after spending NT$1.31 billion on Tuesday to buy SPIL shares. ASE will need Fair Trade Commission’s approval if it plans to increase its stakeholding to 33 percent and more in SPIL shares. ASE has invested NT$13.24 billion over the past four trading sessions to raise its stake in SPIL from 25 percent previously.
CLOTHING
Makalot focus on sportswear
Functional sportswear revenue is likely to account for 18 percent of Makalot Industrial Co’s (聚陽) total revenue this year because of demand remains strong, compared with 13 percent last year, Daiwa-Cathay Capital Markets Co (大和國泰證券) said yesterday. Despite its strong industry position and ability to gain market share globally, headwinds remain ahead in view of recent weak demand in mass market segment and unfavorable foreign exchange trends, Daiwa-Cathay said. Makalot’s net profit grew 26.6 percent annually to NT$2.16 billion last year, with earnings per share of NT$10.9. The firm’s plan for a cash dividend of NT$9.52 per share indicates a 87 percent payout ratio.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
‘NO DISRUPTION’: A US trade association said that it was ready to work with the US administration to streamline the program’s requirements and achieve shared goals The White House is seeking to renegotiate US CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told reporters. The people, along with a third source, said that the new US administration is reviewing the projects awarded under the 2022 law, meant to boost US domestic semiconductor output with US$39 billion in subsidies. Washington plans to renegotiate some of the deals after assessing and changing current requirements, the sources said. The extent of the possible changes and how they would affect agreements already finalized was not immediately clear. It was not known
US President Donald Trump has threatened to impose up to 100 percent tariffs on Taiwan’s semiconductor exports to the US to encourage chip manufacturers to move their production facilities to the US, but experts are questioning his strategy, warning it could harm industries on both sides. “I’m very confused and surprised that the Trump administration would try and do this,” Bob O’Donnell, chief analyst and founder of TECHnalysis Research in California, said in an interview with the Central News Agency on Wednesday. “It seems to reflect the fact that they don’t understand how the semiconductor industry really works,” O’Donnell said. Economic sanctions would