Four life insurance companies had as of yesterday reduced rents or delayed payments for 47 firms affected by the COVID-19 pandemic, the Financial Supervisory Commission said, without naming any.
Five of those to receive benefits — which ranged from firms in the manufacturing and service industries to airlines, tourism and cultural businesses — were allowed to postpone rent payments, while 42 were offered rent reductions, the commission said.
The life insurers lowered their rents based on the financial situation of their tenants, Insurance Bureau Deputy Director-General Wang Li-hui (王麗惠) told a news conference in New Taipei City.
Their move came after the commission this month canceled the minimum rate of return on insurers’ real-estate investments, which stood at 2.095 percent, until June 30 next year.
Cathay Life Insurance Co (國泰人壽) has cut the rents of about 25 tenants to help them weather the pandemic and would continue providing help to affected clients, Cathay executive vice president Lin Chao-ting (林昭廷) said by telephone.
Shin Kong Life Insurance Co (新光人壽) did not reveal how much of a rent reduction it offered, but said that it is requiring affected tenants to offer products, such as dining or travel vouchers, in lieu of some payment, senior vice president Sunny Hsu (徐舜鋆) said.
“This way, our staff can use the vouchers and enjoy their services, while the companies can continue to operate,” Hsu said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
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