Taipei Financial Center Corp (TFCC, 台北金融大樓公司), operator of Taipei 101, yesterday appointed company president Harace Lin (林鴻明) to take over temporarily after former chairwoman Diana Chen (陳敏薰) stepped down.
The shuffle came after Chen tendered her resignation to the board yesterday. Lin has served as TFCC president since 1997.
Late last month, Chen offered a verbal resignation to the company’s board after the Ministry of Finance said it intended to replace Chen amid serious concern about her competence.
The chairwoman also defended herself amid allegations that she gave bribes to former first lady Wu Su-jen (吳淑珍) to win her position.
Chen once attended courses at Ketagalan Institute, a think tank with close links to former president Chen Shui-bian (陳水扁).
The ministry has a say in management as it holds a major stake in TFCC via state-controlled firms such as China Development Industrial Bank (中華開發工銀) and Chunghwa Telecom Co (中華電信).
The TFCC board will hold a meeting to elect a new chairperson in the short term, TFCC said in a filing to the Taiwan Stock Exchange.
“No timetable has been set yet,” said Michael Liu (劉家豪), assistant vice president of the TFCC public relations department, by telephone yesterday. “The board members will not meet until they have come up with a candidate.”
United Microelectronics Corp (UMC, 聯電) expects its addressable market to grow by a low single-digit percentage this year, lower than the overall foundry industry’s 15 percent expansion and the global semiconductor industry’s 10 percent growth, the contract chipmaker said yesterday after reporting the worst profit in four-and-a-half years in the fourth quarter of last year. Growth would be fueled by demand for artificial intelligence (AI) servers, a moderate recovery in consumer electronics and an increase in semiconductor content, UMC said. “UMC’s goal is to outgrow our addressable market while maintaining our structural profitability,” UMC copresident Jason Wang (王石) told an online earnings
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet (EUV) pod supplier to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), is aiming to expand revenue to NT$10 billion (US$304.8 million) this year, as it expects the artificial intelligence (AI) boom to drive demand for wafer delivery pods and pods used in advanced packaging technology. That suggests the firm’s revenue could grow as much as 53 percent this year, after it posted a 28.91 percent increase to NT$6.55 billion last year, exceeding its 20 percent growth target. “We usually set an aggressive target internally to drive further growth. This year, our target is to
The TAIEX ended the Year of the Dragon yesterday up about 30 percent, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The benchmark index closed up 225.40 points, or 0.97 percent, at 23,525.41 on the last trading session of the Year of the Dragon before the Lunar New Year holiday ushers in the Year of the Snake. During the Year of the Dragon, the TAIEX rose 5,429.34 points, the highest ever, while the 30 percent increase in the year was the second-highest behind only a 30.84 percent gain in the Year of the Rat from Jan. 25, 2020, to Feb.
Cryptocurrencies gave a lukewarm reception to US President Donald Trump’s first policy moves on digital assets, notching small gains after he commissioned a report on regulation and a crypto reserve. Bitcoin has been broadly steady since Trump took office on Monday and was trading at about US$105,000 yesterday as some of the euphoria around a hoped-for revolution in cryptocurrency regulation ebbed. Smaller cryptocurrency ether has likewise had a fairly steady week, although was up 5 percent in the Asia day to US$3,420. Bitcoin had been one of the most spectacular “Trump trades” in financial markets, gaining 50 percent to break above US$100,000 and