PANELMAKERS
CPT haggles with creditors
Debt-ridden flat-panel maker Chunghwa Picture Tubes Ltd (CPT, 中華映管) yesterday said that its creditors, including LCD material supplier Echem Solutions Corp (新應材), have submitted requests to the Taoyuan District Court that CPT execute its obligations. As the company’s restructuring plan was rejected by the court, it faces an imminent risk of having its assets liquidated if the court approves the creditors’ requests. CPT continues to negotiate with creditors to repay its debts, the company said in a filing with the Taiwan Stock Exchange.
SEMICONDUCTORS
Phoenix files patent suit
Silicon wafer recycler Phoenix Silicon International Corp (昇陽半導體) has filed a patent infringement lawsuit at the Intellectual Property Court alleging that Integrated Service Technology Inc (宜特科技) has infringed on a patent for a wafer thinning process, the company said in a statement yesterday. Phoenix said that it is seeking unspecified damages for patent infringement and requesting that Integrated Service Technology cease using the process.
ENERGY
Taipower inks deal with MOJ
Taiwan Power Co (Taipower, 台電) yesterday signed a memorandum of understanding with the Ministry of Justice’s (MOJ) Investigation Bureau to have its cybersecurity system reinforced. This is the first time that a state-run company is working with the bureau. Taipower said that the bureau would provide it with critical information on cybersecurity management and have the bureau’s forensic investigators support Taipower as it looks to secure the supply and transmission of electricity.
FINANCIAL SERVICES
Fubon opens Jakarta unit
Taipei Fubon Commercial Bank (台北富邦銀行) yesterday opened an office in Jakarta, the bank’s 30th overseas unit, to gain more momentum in Southeast Asia. The office would collaborate with branches in Singapore and Vietnam to provide consultation and hedging services to local clients and Taiwanese businesses in those regions, it said. Taipei Fubon expects to find solid business opportunities in Indonesia, it said, adding that Indonesia’s GDP is growing rapidly and accounts for 40 percent of Southeast Asia’s GDP.
FITNESS
Dyaco to issue 19m shares
Fitness equipment maker Dyaco International Inc (岱宇國際) yesterday announced that its board has approved a plan to issue 19 million new shares, which would increase the company’s paid-in capital by NT$190 million (US$6.12 million) to NT$960.63 million. The funds would be used to repay bank loans and improve its fiscal strength, it said in a regulatory filing. Dyaco’s gross margin increased by 5.37 percentage points to 27.27 percent in the first half of this year, while earnings per share improved to NT$0.49 from NT$0.43, as three of its main sub-brands posted sales increases over the period, the company said in a statement.
BANKING
Yuan deposits rise again
Yuan deposits held by local banks last month rose for the second consecutive month to 266.41 billion yuan (US$37.54 billion), the central bank said yesterday. The latest figures suggested a 0.4 percent increase from the previous month, even though the yuan is losing value against the US dollar. Local insurers and fund houses opted to park money in yuan deposits to meet the need for investment tools after some foreign bond holdings matured, the bank added.
Three experts in the high technology industry have said that US President Donald Trump’s pledge to impose higher tariffs on Taiwanese semiconductors is part of an effort to force Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to the negotiating table. In a speech to Republicans on Jan. 27, Trump said he intends to impose tariffs on Taiwan to bring chip production to the US. “The incentive is going to be they’re not going to want to pay a 25, 50 or even a 100 percent tax,” he said. Darson Chiu (邱達生), an economics professor at Taichung-based Tunghai University and director-general of
Hon Hai Precision Industry Co (鴻海精密) is reportedly making another pass at Nissan Motor Co, as the Japanese automaker's tie-up with Honda Motor Co falls apart. Nissan shares rose as much as 6 percent after Taiwan’s Central News Agency reported that Hon Hai chairman Young Liu (劉揚偉) instructed former Nissan executive Jun Seki to connect with French carmaker Renault SA, which holds about 36 percent of Nissan’s stock. Hon Hai, the Taiwanese iPhone-maker also known as Foxconn Technology Group (富士康科技集團), was exploring an investment or buyout of Nissan last year, but backed off in December after the Japanese carmaker penned a deal
SUPPORT: The government said it would help firms deal with supply disruptions, after Trump signed orders imposing tariffs of 25 percent on imports from Canada and Mexico The government pledged to help companies with operations in Mexico, such as iPhone assembler Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), shift production lines and investment if needed to deal with higher US tariffs. The Ministry of Economic Affairs yesterday announced measures to help local firms cope with the US tariff increases on Canada, Mexico, China and other potential areas. The ministry said that it would establish an investment and trade service center in the US to help Taiwanese firms assess the investment environment in different US states, plan supply chain relocation strategies and
WASHINGTON POLICY: Tariffs of 10 percent or more and other new costs are tipped to hit shipments of small parcels, cutting export growth by 1.3 percentage points The decision by US President Donald Trump to ban Chinese companies from using a US tariff loophole would hit tens of billions of dollars of trade and reduce China’s economic growth this year, according to new estimates by economists at Nomura Holdings Inc. According to Nomura’s estimates, last year companies such as Shein (希音) and PDD Holdings Inc’s (拼多多控股) Temu shipped US$46 billion of small parcels to the US to take advantage of the rule that allows items with a declared value under US$800 to enter the US tariff-free. Tariffs of 10 percent or more and other new costs would slash such