Shin Kong Financial Holding Co (
Last year, Shin Kong Financial reaped net profits of NT$7.06 billion, or NT$1.74 per share. For the first eight months of this year, the firm posted earnings of NT$7.45 billion, or NT$1.71 per share.
Hsu said that Shin Kong Financial has been looking for potential acquisition targets after taking over Macoto Bank (
He didn't specify potential candidates, but local media have been speculating that MasterLink Securities Corp (
According to the Shin Kong group's statistics, flagship unit Shin Kong Life Insurance Co (
"We have interests in First Financial and the company also offers good investment value," Shin Kong Financial chairman Eugene Wu (
But under current regulations, the company is competing with interested foreign rivals with its one hand tied behind its back, Wu said.
He remained tight-lipped about the firm's plans for First Financial, saying only that it would flexibly respond to future situations.
On Wednesday, Minister of Finance Ho Chih-chin (何志欽) said that the ministry might consider unloading shares in state-controlled banks to top foreign firms.
Ho's remark follows recent announcements by Standard Chartered Bank of its plan to buy Hsinchu International Bank (新竹國際商銀) and Citibank's interest in taking over the Bank of Overseas Chinese (
The ministry's government shareholding management unit, which oversees state holdings, last week unveiled guidelines for dis-posing of public shares in financial institutions. At the time, the ministry said it preferred the world's top 100 banks to take over state shareholdings in future disposals and that local financial institutions are banned from using insurance funds for takeover investment.
The government currently holds a majority of board seats in eight state-controlled banks, including the Bank of Taiwan (
Deputy Minister of Finance Liu Teng-cheng (
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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