New Kinpo Group (新金寶集團) yesterday said that its employees on parental leave would receive full pay, after the government extended the academic winter break until Feb. 25 amid concerns over a viral outbreak in China.
Employees asking for “disease prevention and childcare leave” would not see their work performance evaluation affected, the electronics conglomerate said in a statement.
A total of 2,500 Taiwan-based employees, including those employed through New Kinpo’s subsidiaries Cal-Comp Electronics and Communications Co Ltd (泰金寶) and Kinpo Electronics Inc (金寶), would also receive five surgical masks each as part of the group’s prevention efforts, it said.
The group has been stocking up on masks since December last year, after the first signs of the outbreak, New Kinpo chief executive officer Simon Shen (沈軾榮) said in the statement.
The group said its business operations in China have not been affected.
“More than 90 percent of Kinpo’s and Cal-Comp’s operations are in Southeast Asia, a region little affected by the coronavirus,” a company official surnamed Koo (顧) told the Taipei Times by telephone, citing Shen.
Kinpo, which focuses on the production of consumer PCs and computer peripherals, last month set up a plant to produce printers in Yueyang, China, more than 200km from Wuhan, the epicenter of the outbreak.
The company has prolonged the Lunar New Year holiday for its Chinese employees in compliance with local government regulations, the official said.
Kinpo is this year to increase production at its plants in Thailand and the Philippines by adding 120,000m2 and 150,000m2 respectively, it said.
The company aims to increase revenue by a double-digit percentage this year through its expansion efforts in Southeast Asia, Shen said at an investors’ conference in December.
Despite consecutive annual revenue declines over the past few months, Kinpo said revenue for last year rose 1.52 percent to NT$132.27 billion (US$4.4 billion).
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
PORTFOLIO REBALANCING: The adjustments in three global equity indices reflect rising investor appetite for semiconductor and artificial intelligence-related stocks Taiwan’s weighting in major global equity indices compiled by MSCI Inc is to rise modestly following the latest quarterly review, underscoring the market’s expanding role in emerging-market portfolios, as global investors continue to favor the nation’s technology sector. Taiwan’s weighting in the MSCI Emerging Markets Index is to increase by 0.30 percentage points to 23.76 percent, after the changes take effect at the close of the May 29 session. Its weighting in the MSCI All-Country Asia ex-Japan Index is to rise 0.37 percentage points to 27.16 percent, while that in the MSCI All Country World Index is to edge up slightly to
The Hsinchu County Government’s Labor Affairs Department yesterday said that it has received a plan from cosmetics brand Taiwan Shiseido Co (台灣資生堂) detailing mass layoffs at its plant in Hukou Township (湖口). While the labor authorities did not disclose the number of employees to be laid off, Japanese news media earlier in the day reported that the closure of the company’s factory in Hukou would result in 170 employees losing their jobs. Shiseido followed the law by reporting its layoff plan, the department said, adding that authorities would closely monitor negotiations between the management and affected employees and step in if any