Largan posts 74% growth
Largan Precision Co (大立光), which supplies smartphone camera lenses to Apple Inc, yesterday posted 74 percent annual growth for last month’s revenue to NT$4.62 billion (US$151.8 million) and the company said it expects the growth momentum to carry into this month.
Largan said customer demand was rising after their new products hit the stores.
Last quarter, Largan’s revenue expanded 69 percent to NT$12.09 billion, compared with NT$7.16 billion in the same period last year.
On a quarterly basis, revenue rose 2.11 percentage points from NT$9.98 billion in the second quarter.
Fubon founder dies at 86
Fubon Group (富邦集團) founder Tsai Wan-tsai (蔡萬才) yesterday died at the age of 86, the financial conglomerate said in a brief statement.
Fubon Financial did not elaborate on the cause of death, except to say that Tsai died in a peaceful manner.
Tsai is the father of Fubon Financial Holding Co (富邦金) chairman Daniel Tsai (蔡明忠) and Taiwan Mobile Co (台灣大哥大) chairman Richard Tsai (蔡明興).
The family was ranked the richest in the nation in Forbes magazine’s list of the 40 richest Taiwanese in 2012.
Tsai Wan-tsai, born in Miaoli County in 1929, was the younger brother of Cathay Group patriarchs Tsai Wan-lin (蔡萬霖) and Tsai Wan-tsun (蔡萬春).
Tsai Wan-tsai served as a lawmaker and advisor to the Cabinet and the Presidential Office, among many other positions, before founding Fubon Group.
Hon Hai to offer jobs
Hon Hai Group (鴻海集團) said on Saturday that it is planning to create 10,000 new engineer positions over the next five years, as it is expanding its plant in New Taipei City.
Over the next two years, the company is to recruit 5,000 engineers from around the world, Hon Hai chairman Terry Gou (郭台銘) said.
In the next five years, the number of new positions for engineers at Hon Hai is expected to reach 10,000, he added.
The job openings are part of Hon Hai’s plans to expand its research and development center in Tucheng District’s (土城) Dingpu High-tech Industrial Park (頂埔高科技園區), Gou said, adding that he hopes to see more convenient transportation and the continued development of industry and technology in the district.
Hon Hai, the parent company of Foxconn in China, is the world’s largest computer components manufacturer and assembles products for Apple — including the iPhone — as well as Sony and Nokia.
It has 1.4 million employees in 14 countries.
In China alone, it employs about 1 million workers, roughly half of them based at its main facility in the southern city of Shenzhen.
Event to promote investment
The Ministry of Economic Affairs expressed optimism on Saturday that the nation would be able to attract more investment from overseas this year than last through an upcoming annual investment promotion event.
The ministry has held the annual Taiwan Business Alliance Conference since 2003.
The next event is scheduled for Wednesday at the Taipei International Convention Center.
Last year, the conference drew investments worth a record NT$138.8 billion.
According to ministry officials, at least five companies are planning to invest more than NT$5 billion in the nation this year, while a Western company intends to invest NT$10 billion in a travel and recreation project.
New plane for China Airlines
China Airlines Ltd (CAL, 中華航空) on Friday took delivery of a Boeing 777-300ER as part of its efforts to upgrade its fleet and expand its transportation capacity.
It is the first of 10 Boeing 777-300ERs the airline ordered in 2012 and CAL is to take delivery of the second and the third planes later this month and next month, with the remainder of the new purchases to arrive by the end of 2016, the company said.
CAL said each environmentally friendly Boeing 777-300 ER is expected to help the carrier save about NT$300 million in costs per year.
The first Boeing 777-300ER is scheduled to begin flights in December, flying passengers from Taipei to Los Angeles, the carrier said.
SEMICONDUCTORS: The firm has already completed one fab, which is to begin mass producing 2-nanomater chips next year, while two others are under construction Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, plans to begin construction of its fourth and fifth wafer fabs in Kaohsiung next year, targeting the development of high-end processes. The two facilities — P4 and P5 — are part of TSMC’s production expansion program, which aims to build five fabs in Kaohsiung. TSMC facility division vice president Arthur Chuang (莊子壽) on Thursday said that the five facilities are expected to create 8,000 jobs. To respond to the fast-changing global semiconductor industry and escalating international competition, TSMC said it has to keep growing by expanding its production footprints. The P4 and P5
DOWNFALL: The Singapore-based oil magnate Lim Oon Kuin was accused of hiding US$800 million in losses and leaving 20 banks with substantial liabilities Former tycoon Lim Oon Kuin (林恩強) has been declared bankrupt in Singapore, following the collapse of his oil trading empire. The name of the founder of Hin Leong Trading Pte Ltd (興隆貿易) and his children Lim Huey Ching (林慧清) and Lim Chee Meng (林志朋) were listed as having been issued a bankruptcy order on Dec. 19, the government gazette showed. The younger Lims were directors at the company. Leow Quek Shiong and Seah Roh Lin of BDO Advisory Pte Ltd are the trustees, according to the gazette. At its peak, Hin Leong traded a range of oil products, made lubricants and operated loading
The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico’s luxury car market, hitting sales of traditionally dominant brands such as Mercedes-Benz and BMW. Mexicans are increasingly switching from traditionally dominant sedans to Chinese vehicles due to a combination of comfort, technology and price, industry experts say. It is no small feat in a country home to factories of foreign brands such as Audi and BMW, and where until a few years ago imported Chinese cars were stigmatized, as in other parts of the world. The high-end segment of the market registered a sales drop
Citigroup Inc and Bank of America Corp said they are leaving a global climate-banking group, becoming the latest Wall Street lenders to exit the coalition in the past month. In a statement, Citigroup said while it remains committed to achieving net zero emissions, it is exiting the Net-Zero Banking Alliance (NZBA). Bank of America said separately on Tuesday that it is also leaving NZBA, adding that it would continue to work with clients on reducing greenhouse gas emissions. The banks’ departure from NZBA follows Goldman Sachs Group Inc and Wells Fargo & Co. The largest US financial institutions are under increasing pressure
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