The government, after giving four new projects a green light, has secured NT$854.7 billion (US$28.48 billion) in pledged investments from local firms through three government subsidy programs, the Ministry of Economic Affairs said yesterday.
The four companies plan to invest as much as NT$2.7 billion at home, the ministry said, adding that it has yet to review applications from about 90 companies seeking to participate in the subsidy programs.
Automotive lighting module maker Laster Tech Co Ltd (麗清科技) plans to invest NT$800 million to set up a smart production facility in Taoyuan City’s Guanyin Industrial Park (桃園觀音工業區) so that it can meet the requirements of customers seeking to avoid US tariffs on China-made products.
Laster aims to install automated equipment in the plant to produce controllers for vehicle headlights, the ministry said, adding that the investment would generate 142 job opportunities.
Optical lens and components maker Kinko Optical Co Ltd (今國光學), which counts Japanese firms Canon Inc, Nikon Corp, Sony Corp and Tamron Co Ltd among its end customers, aims to invest more than NT$600 million to expand its existing plant in Taichung City’s Wuqi District (梧棲), as it seeks to minimize the impact of US tariffs on its business.
The firm plans to expand its capacity to produce high-precision optical modules, while lowering module production costs, the ministry said.
Under a separate program launched last year, the ministry has approved the applications of Anderson Industrial Corp (恩德科技) and Chi Deh Crane Engineering Co Ltd (啟德機械).
Facing capacity saturation at its existing production facilities, Anderson, a computer numerical control machinery manufacturer, aims to invest more than NT$400 million to set up new plants in Miaoli County’s Houlong Township (後龍) and Taichung’s Wuci District (梧棲).
The investment would generate 42 jobs, the ministry said.
Chi Deh, a high-precision machinery transportation and installation specialist, plans to invest more than NT$800 million to purchase smart equipment for its plant in Taichung’s Qingshui District (清水) to expand production capacity.
The company needs to expand local capacity as most of its customers move production back to Taiwan, the ministry said, adding that the company also seeks to import German-made cranes to upgrade its services.
Chi Deh’s clients include flat-panel makers AU Optronics Corp (AUO, 友達光電) and Innolux Corp (群創), as well as memorychip maker Micron Technology Inc and China Steel Corp (CSC, 中鋼).
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
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