In the recently announced The Asset Triple A Country Awards 2022 for Sustainable Finance, Citi Taiwan was honored as Best Bank – Global, for the 20th straight year, and Best Corporate and Institutional Adviser – Global, for the 8th straight year. The firm was also recognized in several other Best Adviser and Best Deals categories.
Despite capital market volatility, Citi focused on helping clients build operating resilience and their sustainability transformation. Citi was also named Best Equity Adviser and Best M&A Adviser – Global. Among the Best Deals, Citi Taiwan supported clients on transactions that won Best GDR, Best Formosa Bond, Best Corporate Bond and Best M&A.
Christie Chang, head of Citi APAC Corporate Banking and President of Citibank Taiwan, said, “Market conditions in 2022 highlighted the importance of financial institutions’ resilience. We would like to thank our clients for their continued partnership. We are committed to Taiwan and supporting clients across our local and global network to support their ambitions. We are well positioned for further growth in a key market for Citi.”
Photo courtesy of Citibank Taiwan
Founded 1999, The Asset is a widely recognized regional financial magazine. The magazine’s annual Triple A recognition represents one of the most prestigious awards for banking and capital markets. According to its editorial team, negative market sentiment dampened deal activity, including Formosa bonds, while there was a strong demand for ESG-themed offerings. Taiwan’s local syndication market was vibrant with borrowers going for sustainability-linked transactions to showcase their ESG credentials. In the meantime, it’s noteworthy that a number of big companies took the GDR (global depositary receipt) route to raise funds. During the award review period, Citi Taiwan closed several landmark deals, including the first financial industry’s GDR offering from Taiwan since 2018, a USD-denominated corporate bond issued by a semiconductor company to fund its capex plan and the largest retail M&A in Taiwan.
The newly appointed head of Citi Taiwan Aftab Ahmed said, “We thank The Asset for recognizing Citi Taiwan again in 2022. Citi Taiwan is the premier provider of client-centric financial solutions. Our institutional businesses delivered very strong growth, and this can be attributed to our strong relationship management focus and global network. We remain highly committed to the market and to serving our clients with excellence.”
In 2022, Citi Taiwan was also named the best global bank by Asiamoney and FinanceAsia, while Citigroup was accredited for its best leadership and as best investment bank in Asia by Euromoney. As a distinguished corporate citizen, Citi continues to work toward sustainable development goals from the three ESG dimensions and support clients’ sustainability transformation, including reduction of carbon footprints, sustainable finance, cultivation of a DEI culture, giveback to communities, youth empowerment, migrant workers’ finance education and breakpoint-free customer digital experience with high security standards.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain Apple Inc’s primary chip manufacturing partner despite reports that Apple could shift some orders to Intel Corp, industry experts said yesterday. The comments came after The Wall Street Journal reported on Friday that Apple and Intel had reached a preliminary agreement following more than a year of negotiations for Intel to manufacture some chips for Apple devices. Taiwan Institute of Economic Research (台灣經濟研究院) economist Arisa Liu (劉佩真) said TSMC’s advanced packaging technologies, including integrated fan-out and chip-on-wafer-on-substrate, remain critical to the performance of Apple’s A-series and M-series chips. She said Intel and Samsung
POWER BUILDUP: Powered by Nvidia’s B200 Blackwell chips, the data center would support MediaTek’s computing power demand and business growth, the company said Smartphone chip designer MediaTek Inc (聯發科) yesterday launched a new artificial intelligence (AI) data center with a maximum capacity of 45 megawatts to meet its rising demand for computing power required to develop new advanced chips for AI applications. The company has completed the first-phase computing power buildup at the data center in Miaoli County’s Tongluo Township (銅鑼), providing 15 megawatts of capacity to support its research and development (R&D) capabilities, despite an industrywide shortage of key components, MediaTek said. Supply constraints have plagued a wide range of key components, including memory chips, solid-state drives, power supply units and central
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
RSS