STOCK MARKET
TWSE approves chairman
The the Taiwan Stock Exchange’s (TWSE) board of directors on Friday approved the appointment of former minister without portfolio Hsu Chang-yao (許璋瑤) as its chairman. The 66-year-old Hsu from 2004 to 2008 served as head of the Directorate-General of Budget, Accounting and Statistics, and was named minister without portfolio in charge of accounting, statistics and financial affairs in May last year. The government had been looking for a new chairman for the exchange since former chairman Shih Jun-ji (施俊吉) became vice premier in September.
ENERGY
New CPC chair appointed
The Ministry of Economic Affairs on Friday appointed Southern Taiwan University of Science and Technology principal Tai Chein (戴謙) to lead CPC Corp, Taiwan (CPC, 台灣中油). The state-run oil refiner is scheduled to convene a board meeting today to officially elect Tai as chairman, the ministry said. Tai was formerly vice minister of the National Science Council before he became principal of the university in August 2007. The ministry said Tai’s appointment reflects his expertise in science and his management capabilities.
AVIATION
CAL partners with Airbus
Airbus SE has chosen China Airlines Ltd (CAL, 中華航空) to become one of its maintenance, repair and overhaul suppliers in Asia, a press release said on Thursday. CAL senior vice president Houng Wang (王宏) said the company will also provide aircraft conversion services for the European firm. After opening a new hangar next year, Wang said the company is confident that its growing capabilities will offer comprehensive solutions to support Airbus aircraft in Taiwan.
TAKING STOCK: A Taiwanese cookware firm in Vietnam urged customers to assess inventory or place orders early so shipments can reach the US while tariffs are paused Taiwanese businesses in Vietnam are exploring alternatives after the White House imposed a 46 percent import duty on Vietnamese goods, following US President Donald Trump’s announcement of “reciprocal” tariffs on the US’ trading partners. Lo Shih-liang (羅世良), chairman of Brico Industry Co (裕茂工業), a Taiwanese company that manufactures cast iron cookware and stove components in Vietnam, said that more than 40 percent of his business was tied to the US market, describing the constant US policy shifts as an emotional roller coaster. “I work during the day and stay up all night watching the news. I’ve been following US news until 3am
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
Six years ago, LVMH’s billionaire CEO Bernard Arnault and US President Donald Trump cut the blue ribbon on a factory in rural Texas that would make designer handbags for Louis Vuitton, one of the world’s best-known luxury brands. However, since the high-profile opening, the factory has faced a host of problems limiting production, 11 former Louis Vuitton employees said. The site has consistently ranked among the worst-performing for Louis Vuitton globally, “significantly” underperforming other facilities, said three former Louis Vuitton workers and a senior industry source, who cited internal rankings shared with staff. The plant’s problems — which have not
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced
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