In response to the government’s sustainable development policy, Far Eastern New Century Corp (FENC, 遠東新世紀) was the first company to be qualified to issue a sustainable development exchangeable bond.
The exchange bond was listed and began trading on the Taipei Exchange yesterday. As the lead underwriter, KGI Securities Ltd (凱基證券) facilitated the issuance, driving Taiwan’s sustainable bond market toward a new milestone.
The issuance involved exchangeable bonds for NT$1 billion of Asia Cement Corp (亞洲水泥) and NT$1.5 billion of Far Eastern Department Stores Co (遠東百貨) with a term of five years.
Photo courtesy of Far Eastern New Century Corp
“To cope with an era of carbon pricing, corporate entities must address the impacts of climate change and provide responsive solutions toward decarbonization, transforming the challenge into a strength in order to take the lead in the race to net zero,” FENC chairman Douglas Hsu said.
FENC, an innovative industry pioneer, responded to the government’s sustainable development policies and integrated financial planning seamlessly into its corporate sustainability strategies.
FENC was the first to offer several sustainable financial products in Taiwan with great success, channeling investment funds into sustainable projects from diverse sources, and fostered a positive cycle among government and corporate entities, and investors.
Taipei Exchange released the guidelines for sustainable development bonds in December last year, allowing convertible bonds to be issued within the scope of sustainable development bonds, with an aim to expand the market for sustainable development bonds.
FENC took the initiative once again and successfully issued the first corporate sustainable development exchangeable bond, to set an example and encourage more corporate entities to participate in sustainable development.
The funds raised by the FENC listing are to be used to support investment projects with green benefits for the company and its subsidiary, Oriental Petrochemical (Taiwan) Co Ltd (亞東石化股份有限公司). With measures to improve manufacturing processes, equipment and energy management, the company aims to actively achieve sustainability transformation goals — reduce greenhouse gas emissions by 50 percent, grow green products to 50 percent and utilize 50 percent green feedstock by 2030.
This would contribute to the overall long-term operational development of the company, as it strives to practice environmentally friendly and socially prosperous sustainable business principles.
KGI Securities ranks No. 1 for underwriting market share and has actively responded to the government’s promotion of sustainable financial policies.
KGI assists corporate entities to channel funds into investment projects with environmental and social benefits. As the main underwriter for several sustainable development-related bonds, KGI helps corporate entities and financial issuers to successfully raise funds, grow and excel in the capital market, while demonstrating the mission to implement corporate sustainability.
KGI provides sustainable financial solutions and contribute heartfelt efforts to sustainability development for the benefit of society.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
United Microelectronics Corp (UMC, 聯電) forecast that its wafer shipments this quarter would grow up to 7 percent sequentially and the factory utilization rate would rise to 75 percent, indicating that customers did not alter their ordering behavior due to the US President Donald Trump’s capricious US tariff policies. However, the uncertainty about US tariffs has weighed on the chipmaker’s business visibility for the second half of this year, UMC chief financial officer Liu Chi-tung (劉啟東) said at an online earnings conference yesterday. “Although the escalating trade tensions and global tariff policies have increased uncertainty in the semiconductor industry, we have not
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS