REGULATION
FSC opens new Tatung probe
Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) yesterday said that the commission is verifying new evidence related to a management feud at Tatung Co (大同). The commission has not ruled out taking further action depending on the outcome of the renewed investigation, he said. In May, the commission fined SinoPac Securities (Asia) Ltd (永豐金證券亞洲), a Hong Kong-based brokerage subsidiary of SinoPac Financial Holdings Co (永豐金控), for purchasing shares in Tatung to gain seats on the board of the 99-year-old company on behalf of Chinese financial backers, in violation of the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area (臺灣地區與大陸地區人民關係條例). The Chinese clients bought an estimated 4 percent stake in Tatung at cost of NT$1 billion (US$33.2 million), the commission said.
BIOTECHNOLOGY
Local firms to merge
Glac Biotech Co Ltd (豐華) yesterday announced that it would merge with Glory Biotech Co Ltd (得榮) in a bid to consolidate the two companies’ efforts at tapping the market for health supplements and probiotics. The deal would see Glac Biotech absorb Glory Biotech through a share swap. The share swap ratio has been tentatively set at 1 Glory Biotech for 0.4 Glac Biotech shares, the companies said. Glac Biotech specializes in upstream aspects of the probiotic supply chain, while Glory Biotech is expected to bring additional production capacity and cost savings to the merged firm as it sets its sights on international markets, the companies said.
AVIATION
CAL, Nordam sign deal
China Airlines Ltd (CAL, 中華航空) yesterday inked an agreement with Nordam Group Inc to jointly build a maintenance facility servicing the US-based company’s thrust reversers, as well as other composite material parts. The new facility is to be situated adjacent to Taiwan Taoyuan International Airport. The arrangement would help the company fulfill the servicing needs of its fleet and elevate its maintenance capabilities, as well as help the development of the nation’s aviation sector, CAL chairman Ho Nuan-hsuan (何煖軒) said.
CEMENT
TCCI delisting approved
Taiwan Cement Corp (台灣水泥) yesterday said shareholders of its major subsidiary, TCC International Holdings Ltd (TCCI, 台泥國際集團), have approved a proposal to delist the company from the Hong Kong Stock Exchange. TCCI would become a fully owned unit of Taiwan Cement and contribute more profit to its parent company after the delisting plan is completed by the end of this year, the firm said. The plan still requires the approval of the Cayman Islands Judicial Administration, Taiwan Cement said in a statement. Incorporated in the Cayman Islands, the subsidiary has 21 cement plants in southern China.
ELECTRONICS
Apple stores to open early
Apple Inc’s premium iPhone 8 series is to be launched in Taiwan on Friday, with several major telecoms planning to open some of their retail stores earlier than usual that day. Taiwan is among the first wave of launch nations for the new iPhones. Apple’s first retail store in Taiwan, in Taipei 101, is to open at 8am on Friday, three hours earlier than usual, and stay open until 10pm, according to the company’s Web site. The store has not revealed any information about any special offers or giveaways for the launch of the new phones.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
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