LED chipmaker Epistar Corp (晶元光電) is to invest NT$5.4 billion (US$179.28 million) into production of mini-LEDs in Taiwan as it seeks to prioritize production here to cope with demand.
In light of growing pressure from rivals in China, Epistar is to focus on the development of new applications for mini, micro, ultraviolet and infrared LEDs.
The company plans to set up automated mini-LED production lines at a plant in the Central Taiwan Science Park (中部科學園區) in Taichung and establish a high-standard clean room at a plant at the Southern Taiwan Science Park (南部科學園區) in Tainan, the Ministry of Economic Affairs said yesterday.
The investment came after the ministry approved Epistar’s application to join a three-year government program, the ministry said.
The investment would provide 150 job opportunities, it said.
The ministry yesterday also approved Ardentec Corp’s (欣銓) plan to invest NT$6.2 billion to expand production and purchase machinery equipment in Taiwan, as the provider of wafer testing for semiconductor firms is seeking to expand capacity at a plant at the Hsinchu Industrial Park (新竹工業區) amid order transfers from China amid the COVID-19 pandemic.
Ardentec’s investment would provide up to 80 jobs, the ministry said.
Ardentec’s wholly owned subsidiary Giga Solution Tech Co Ltd (全智科技) plans to invest NT$4.9 billion to expand its manufacturing facilities at the Hsinchu park, the ministry said.
Through the new investment, Giga, which provides testing services for wireless communication applications, is to focus on automated production while developing multiple applications for smartphones, data centers, base stations, end devices, wearable devices, radar detectors and telematics, the ministry said.
The investment is expected to provide 115 jobs, it said.
Test-Serv Inc (誠遠科技), a chip testing subsidiary of Sigurd Microelectronics Corp (矽格), is to invest NT$600 million to upgrade equipment at its Hsinchu plant as it faces uncertainty over its production in China, the ministry said, adding that the investment would provide 69 jobs.
Separately yesterday, Minister of Economic Affairs Shen Jong-chin (沈榮津) said that preliminary reviews of companies applying for a recently announced program aimed at subsidizing wages would begin next week.
Following a meeting with service-sector companies, Shen said that the pandemic has led to an 80 to 90 percent drop in sales for businesses operating in Taiwan’s shopping districts.
Local dry cleaners and wedding planners are also facing heavy setbacks, with sales declining 60 percent on average, he said.
“The Department of Commerce would go over applications very soon,” Shen said. “We need to act fast so that businesses can pay their employees.”
Capped at NT$20,000 per employee, the ministry would subsidize up to 40 percent of the payroll of companies that report a 50 percent year-on-year drop in revenue, while offering a one-time overhead subsidy of NT$10,000 per employee.
The ministry is also providing assistance to local businesses via a reduction in utility rates, as well as a credit guarantee fund.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS