ProMOS sells Hynix shares
ProMOS Technologies Inc (茂德科技), the nation’s third-largest computer memory chipmaker, said yesterday it had sold a 8.6 percent stake to South Korean chipmaker Hynix Semiconductor Inc for NT$3.46 billion (US$109.8 million) through private placement.
Hynix bought 576 million ProMOS common share at NT$6 a share via Korea Exchange Bank Co Ltd. ProMOS will soon arrange a seat for Hynix on its 11-member board, company spokeswoman Jessie Peng (彭卓蘭) said by telephone.
ProMOS said in May that it planned to start using Hynix’s 50 nanometer technology to produce chips by the end of the year, or early next year.
Four injured at TSMC site
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest custom-chip maker, said four workers were injured when they fell from the second floor of a chip factory construction site.
One worker had surgery, another is awaiting surgery and a third was being treated for broken bones, TSMC spokesman Michael Kramer said yesterday. A fourth worker has been released from hospital, he said.
TSMC doesn’t expect any impact on the construction schedule of the factory, which is being built in Hsinchu, and doesn’t see any liability from the incident, Kramer said. He declined to comment further on the extent of the injuries.
The workers were moving a power transformer for ABB Ltd at the time, Kramer said. All four are Taiwanese and were employed by a local firm contracted by ABB, he said.
German agents hunt pirates
German customs agents swarmed through the IFA consumer electronics fair in Berlin shortly after the expo opened yesterday, hunting for non-payers of royalties.
Major targets appeared to be Asian electronics makers.
The raids were led by Berlin prosecutors.
There were similar raids at the CeBIT electronics fair in Hanover in March. Many of the allegations involve patented software in the digital devices. The patent owners expect royalties or fees every time the software is used.
Norbert Scheithauer, a Berlin-region spokesman for the German customs service, said 220 agents had been deployed to raid about 50 booths at IFA and would continue their work until last night.
A German online news service, FAZ.net, said the Taiwan Image Hall, where top Taiwanese designs were shown, was a target.
Agents brought cartons and took away TV sets, receivers for terrestrial digital video broadcasting (DVB-T) and MP3 players.
Investment applications pass
The Investment Commission yesterday approved China Steel Corp’s (中國鋼鐵) application to invest US$292.74 million in its plant located in the suburbs of Ho Chi Minh City, Vietnam.
The plant is scheduled for commercial operation in 2011, the company says on its Web site.
The commission also approved Chi Mei Optoelectronics Corp’s (奇美電子) application for outward remittance of US$60 million to increase its investment in its subsidiaries in Nanhai, China.
The commission also greenlighted Chi Mei Corp’s (奇美實業) application for outward remittance of US$92.95 million to increase its investment in Chi Mei Chemical Co (奇美化工) in Zhenjiang, China, along with two other Chinese companies.
The commission approved Netherlands-based W.P.V. Holding BV’s application for inward remittance of NT$790 million to purchase new shares from Gsharp Corp (浩緯實業) and to acquire 100 percent of shares in Cable-Giant Catv Co (大新店民主有線電視) through indirect investment.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
‘SILVER LINING’: Although the news caused TSMC to fall on the local market, an analyst said that as tariffs are not set to go into effect until April, there is still time for negotiations US President Donald Trump on Tuesday said that he would likely impose tariffs on semiconductor, automobile and pharmaceutical imports of about 25 percent, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the US leader’s trade war. “I probably will tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs. Asked about similar levies on pharmaceutical drugs and semiconductors, the president said that “it’ll be 25 percent and higher, and it’ll
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International
WARNING SHOT: The US president has threatened to impose 25 percent tariffs on all imported vehicles, and similar or higher duties on pharmaceuticals and semiconductors US President Donald Trump on Wednesday suggested that a trade deal with China was “possible” — a key target in the US leader’s tariffs policy. The US in 2020 had already agreed to “a great trade deal with China” and a new deal was “possible,” Trump said. Trump said he expected Chinese President Xi Jinping (習近平) to visit the US, without giving a timeline for his trip. Trump also said that he was talking to China about TikTok, as the US seeks to broker a sale of the popular app owned by Chinese firm ByteDance Ltd (字節跳動). Trump last week said that he had
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