Taiwan Mobile Co (台灣大哥大), the nation's third-largest mobile operator, projected yesterday that third-quarter pre-tax profits would grow 17.4 percent at a quarterly rate to NT$5.67 billion (US$173.1 million) due to an increase in subscribers and gains from asset sales.
Net income would also increase to NT$1.03 per share from NT$0.93 in the second quarter, according to a statement filed to the Taiwan Stock Exchange.
According to the statement, Taiwan Mobile plans to sell 100 million shares in rival Chunghwa Telecom (
The company generated NT$485 million by selling Chunhgwa Telecom shares on the local stock market earlier this month.
Revenues would also expand nearly 4 percent to NT$12.51 billion during this quarter from last quarter, according to the statement.
On the local bourse, Taiwan Mobile shares dropped 0.33 percent to NT$29.9 yesterday.
Separately, Daniel Tsai (
Under this law, the chairpersons and presidents of financial holding firms cannot serve simultaneously as chairpersons or presidents of non-financial businesses. The regulation took effect on Jan. 1, but company chiefs are allowed to finish their current tenures.
In the statement, the telecommunications firm said it held a meeting yesterday and elected Richard Tsai (蔡明興), vice chairman of Fubon Financial and Daniel Tsai's younger brother, as its new chairman.
The board elected Daniel Tsai as its new vice chairman, according to the statement.
Daniel Tsai was not the only business heavyweight whose position as chairman of both a financial holding company and a non-financial enterprise contravened the new law.
While those affected have been given a grace period of up to three years to comply, critics have argued that the new requirement will only lead to a phenomenon of "figurehead" chairpersons being installed at the helm of family-run businesses.
Among those affected by the new legislation are Eugene Wu (吳東進), who heads both Shin Kong Financial Holding Co (新光金控) and Great Taipei Gas Corp (大台北瓦斯); Jeffrey Koo (辜濂松), who chairs Chinatrust Financial Holding Co (中信金控) and four non-financial businesses; and Lin Ming-cheng (林明成), who leads Hua Nan Financial Holding Co (華南金控) and four non-financial entities.
TARIFFS: The global ‘panic atmosphere remains strong,’ and foreign investors have continued to sell their holdings since the start of the year, the Ministry of Finance said The government yesterday authorized the activation of its NT$500 billion (US$15.15 billion) National Stabilization Fund (NSF) to prop up the local stock market after two days of sharp falls in reaction to US President Donald Trump’s new import tariffs. The Ministry of Finance said in a statement after the market close that the steering committee of the fund had been given the go-ahead to intervene in the market to bolster Taiwanese shares in a time of crisis. The fund has been authorized to use its assets “to carry out market stabilization tasks as appropriate to maintain the stability of Taiwan’s
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TARIFF CONCERNS: The chipmaker cited global uncertainty from US tariffs and a weakening economic outlook, but said its Singapore expansion remains on track Vanguard International Semiconductor Corp (世界先進), a foundry service provider specializing in producing power management and display driver chips, yesterday withdrew its full-year revenue projection of moderate growth for this year, as escalating US tariff tensions raised uncertainty and concern about a potential economic recession. The Hsinchu-based chipmaker in February said revenues this year would grow mildly from last year based on improving supply chain inventory levels and market demand. At the time, it also anticipated gradual quarter revenue growth. However, the US’ sweeping tariff policy has upended the industry’s supply chains and weakened economic prospects for the world economy, it said. “Now
An employment discrimination lawsuit against contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) might soon be expanded after a hearing in a federal court in San Jose, California, on Tuesday to add 15 plaintiffs to the case. According to a court document, the lawsuit, which was refiled in November last year as a form of a class action with 13 plaintiffs in California, wants to add 15 plaintiffs from Arizona, where TSMC is building up its wafer fab capacity. TSMC first committed between 2020 and last year to invest US$65 billion in three advanced wafer fabs in Arizona. It then pledged an
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