INVESTMENT
Eight projects approved
The Investment Commission yesterday approved eight investment projects totaling NT$25.8 billion (US$885.81 million): two foreign direct investment projects in Taiwan, one investment project in the US and five investment projects in China. The foreign projects are in renewable energy, with GRP III Taiwan UK Ltd buying NT$7.6 billion of stock in New Green Power Co (永鑫能源), a photovoltaic systems company, and Germany-based Yunlin Holding GMB investing NT$2.8 billion in Yunneng Wind Power Co (允能風力發電), the developer of a Yunlin offshore wind farm, the commission said. Formosa Plastics Group (台塑集團) also gained approval to invest NT$5.46 billion in its US-based subsidiary, Formosa Industries Corp (台塑工業美國), it added.
SHIPPING
Yang Ming names new head
Yang Ming Marine Transport Corp (陽明海運) yesterday announced that its board of directors approved the appointment of National Development Council Deputy Minister Cheng Chen-mount (鄭貞茂) as company chairman and CEO from today. Cheng replaces Bronson Hsieh (謝志堅), who retired yesterday. Cheng in 2018 joined the board as a representative of the National Development Fund, which is Yang Ming’s second-largest shareholder, the company said in a statement, adding that Cheng has become familiar with the container shipper’s operations and strategies over the past two years.
ELECTRONICS
Unity Opto to be delisted
LED company Unity Opto Technology Co (東貝光電) yesterday said that its shares are to be delisted from the Taiwan Stock Exchange on Nov. 10, as its book value has fallen into negative territory, a company regulatory filing showed. Unity Opto’s book value fell to minus-NT$5.27 per share by the end of last year due to chronic losses. The debt-ridden firm last year posted losses of NT$7.31 billion, or losses per share of NT$15.86. The company has yet to submit financial statements for this year to regulators.
AUTOMAKERS
Hua-chuang’s Huang retires
Hua-chuang Automobile Information Technical Center (華創車電) vice president Huang Chen-hung (黃振宏) has retired, parent company Yulon Motor Co (裕隆汽車) said in a statement. Hua-chuang Automobile is 100 percent owned by Yulon Motor. Huang’s retirement preceded the creation of an electric-vehicle venture between Yulon Motor and Hon Hai Precision Industry Co (鴻海精密). Hon Hai plans to unveil an outlook and blueprint for the venture on Oct. 16, while Yulon Motor said that the venture is to begin by the end of this year.
ELECTRONICS
Sony unveils 5G Xperia 5 II
Sony Mobile Taiwan has launched its flagship 5G Xperia 5 II smartphone in Taiwan for the price of NT$29,990. The Xperia 5 II builds on the success of the Xperia 1 II 5G, Sony Mobile Taiwan president Jonathan Lin (林志遠) told a launch ceremony on Monday. “The Xperia 1 II 5G was the best-selling flagship Android phone in June, July and August,” Lin said, adding that the two phones’ features mostly share the same specifications, while the Xperia 5 II is smaller and has a 6.1-inch screen. Product marketing manager Jerry Peng (彭浩正) said that the camera can take a string of 20 photographs auto-focused on the eyes, to spontaneously capture the subject’s emotions.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
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