The Ministry of Economic Affairs yesterday gave the green light to Good Way Technology Co’s (東碩資訊) application to invest up to NT$700 million (US$23.1 million) in Taiwan under a three-year program that provides incentives for overseas Taiwanese companies to invest back home.
Good Way, which specializes in docking stations and counts Intel Corp among its major clients, plans to set up a manufacturing facility in New Taipei City’s Sijhih District (汐止), the ministry said in a statement.
Good Way, which has a research and development facility in Taiwan and only one manufacturing plant — in Kunshan, China — decided to expand its operations in Taiwan to meet customers’ requests that it diversifies its production to lower risks amid trade tensions between the US and China, the ministry said.
The ministry also approved three other companies’ investment applications: mechanical parts maker Chenming Electronic Tech Corp (晟銘電子), golf club manufacturer Juming Co (鉅明) and storage furniture maker Huei Tyng Enterprise Co (輝庭企業).
Chenming Electronic, which specializes in server cloning, plans to set up a new automated plant in northern Taiwan to sharpen its competitive edge, the ministry said, without disclosing the planned investment amount.
Juming and Huei Tyng are to invest more than NT$800 million and NT$900 million respectively to expand their production capacities as more orders are transferred to Taiwan, the ministry said.
STATE UTILITIES
In other news, the ministry said Taiwan Power Co (Taipower, 台電) posted a pretax profit of NT$18 billion for last year after an injection of NT$32.7 billion from the government’s energy price stabilization fund.
Without allocation from the fund, Taipower posted pretax losses of NT$14.7 billion due to a combination of frozen electricity rates and mounting fuel costs, the ministry said.
Oil refiner CPC Corp, Taiwan (台灣中油) posted a profit of NT$35.2 billion, as global crude oil prices rose last year.
However, the company is forecasting losses as international oil markets have slumped due to the COVID-19 pandemic.
Taiwan Sugar Corp (台糖) and Taiwan Water Corp (台灣自來水) posted pretax profits of NT$3.28 billion and NT$191 million respectively for last year, the ministry said.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS