Eslite opens new HK store
Eslite Spectrum Corp (誠品生活), a major bookstore chain in Taiwan, has opened a new store in Hong Kong’s Tsuen Wan area, the company’s fifth outlet in the territory. The outlet in the Western New Territories’ grand opening was on Thursday, with Eslite upgrading a provisional reading venue in the area’s D PARK shopping center to an official store. The reading venue, which was launched in August last year, was well received, so Eslite decided to upgrade it and double its floor space. Eslite chairwoman Mercy Wu (吳旻潔) said the previous venue was part of the company’s expansion strategy to test market demand before opening a store. As the reading venue was frequently visited by many people in Tsuen Wan, it was an easy decision for Eslite to turn it into an official outlet, she said.
Top 20 brands surge
The aggregate value of Taiwan’s top 20 brands rose about 5 percent this year from last year, defying the economic impact of the COVID-19 pandemic, the Ministry of Economic Affairs said on Tuesday last week. The 2020 Best Taiwan Global Brands survey said that the increase showed the resilience of the local business sector, in particular technology companies, which benefited from strong demand for emerging technologies such as 5G applications, and the popularity of remote work and online learning, the ministry said. The trend to improve information security amid trade tensions between the US and China also boosted demand for Taiwan’s tech products, the ministry said. The aggregate value of the nation’s 20 largest brands was US$10.07 billion, up 5 percent from last year. It was the first time that the value was above US$10 billion since 2013, the ministry said.
Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain the third-largest IC supplier this year, unchanged from last year, IC Insights said yesterday. IC designer MediaTek Inc (聯發科) is expected to become the 11th-largest, up from 16th last year, the semiconductor market research firm said. TSMC is expected to post US$45.42 billion in sales, up 31 percent from last year, IC Insights said in a report released on its Web site. TSMC’s sales growth is largely due to a surge in orders from Apple Inc and HiSilicon Technologies Co (海思半導體) — two of its major clients — which
SETTING AN EXAMPLE: The commission suspended the bank’s two top executives as ‘a warning to all banks,’ while the fine is the biggest to be given to a bank in a single case The Financial Supervisory Commission (FSC) yesterday fined E.Sun Commercial Bank (玉山銀行) NT$20 million (US$693,698) over a theft scandal and punished the bank’s two top executives. A customer relationship manager surnamed Pan (潘) at the bank’s branch in Kaohsiung’s Fengshan District (鳳山) stole NT$140 million from 41 clients over the past seven years, the commission said. Pan secretly transferred the stolen money to accounts belonging to her and her family members by using clients’ debit cards, passwords or documents that were stamped using the clients’ personal stamps between July 2013 and June this year, the commission said. The commission suspended Ben Chen (陳炳良), the
HARD ASK: At a meeting held by the MOEA to talk about the RCEP trade deal, trade associations said that they expect the government to push for more free-trade deals Business representatives yesterday urged the government to slow the appreciation of the New Taiwan dollar, saying that some Taiwanese industries have been undercut by rivals due to unfavorable foreign exchange rates. The government should also assist local industries to expand their domestic market, and push for more bilateral trade deals so that Taiwanese companies can enjoy zero or preferential tariffs on exports, following the nation’s exclusion from the Regional Comprehensive Economic Partnership (RCEP) which was signed by 15 Asia-Pacific nations on Nov. 15, they said at a meeting with the Ministry of Economic Affairs (MOEA). Some participants said that the NT dollar’s
BREATH OF LIFE: The firm said the under-utilized plant should start mass production in the first quarter, timed to coincide with Intel Corp’s release of its Ice Lake server chip Hon Hai Precision Industry Co (鴻海精密) plans to assemble key components for Google servers at its plant in Wisconsin, people familiar with the matter said, finally breathing life into a factory that US President Donald Trump hailed as crucial to bringing manufacturing back to the US. The company has decided to locate production for this new contract at the existing complex rather than make the components at home or in China, the people said, asking not to be identified. The under-utilized plant should start mass production in the first quarter, timed with the release of Intel Corp’s Ice Lake server chips,