The board of state-run Taiwan Asset Management Corp (TAMC, 台灣金聯) yesterday approved the appointment of former vice premier Shih Jun-ji (施俊吉) as its chairman, a position that has been vacant for 18 months.
Shih said that he would give reasons for his latest change of position after he puts TAMC on the right track.
The company’s helm has been vacant since former minister of labor Lin Mei-chu (林美珠) resigned in December 2018.
Photo courtesy of Taiwan Asset Management Corp
Lin quit one day after she was sworn in, bowing to criticism about favoritism from opposition parties.
Lin is a cousin of President Tsai Ing-wen (蔡英文).
Shih, 65, was tapped by the Executive Yuan to head the company, of which the government controls a stake of more than 80 percent.
TAMC, the nation’s largest bad-loan operator, has been expanding into property management and real-estate construction as the nation’s pool of bad loans diminishes.
Shih expressed gratitude to TAMC president Kuo Wen-jin (郭文進), who had to double as acting chairman in the interim.
Shih, who holds a doctorate in economics, has served as chairman of the Taiwan Stock Exchange and a minister without portfolio, as well as a member of the Financial Supervisory Commission and the Fair Trade Commission.
“The local bourse rallied to more than 10,000 points under my stewardship, lending support to my credentials, Shih said, asking colleagues to wait and see his achievements.
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
TARIFF TRADE-OFF: Machinery exports to China dropped after Beijing ended its tariff reductions in June, while potential new tariffs fueled ‘front-loaded’ orders to the US The nation’s machinery exports to the US amounted to US$7.19 billion last year, surpassing the US$6.86 billion to China to become the largest export destination for the local machinery industry, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report on Jan. 10. It came as some manufacturers brought forward or “front-loaded” US-bound shipments as required by customers ahead of potential tariffs imposed by the new US administration, the association said. During his campaign, US president-elect Donald Trump threatened tariffs of as high as 60 percent on Chinese goods and 10 percent to 20 percent on imports from other countries.
Taiwanese manufacturers have a chance to play a key role in the humanoid robot supply chain, Tongtai Machine and Tool Co (東台精機) chairman Yen Jui-hsiung (嚴瑞雄) said yesterday. That is because Taiwanese companies are capable of making key parts needed for humanoid robots to move, such as harmonic drives and planetary gearboxes, Yen said. This ability to produce these key elements could help Taiwanese manufacturers “become part of the US supply chain,” he added. Yen made the remarks a day after Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) said his company and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) are jointly
MARKET SHIFTS: Exports to the US soared more than 120 percent to almost one quarter, while ASEAN has steadily increased to 18.5 percent on rising tech sales The proportion of Taiwan’s exports directed to China, including Hong Kong, declined by more than 12 percentage points last year compared with its peak in 2020, the Ministry of Finance said on Thursday last week. The decrease reflects the ongoing restructuring of global supply chains, driven by escalating trade tensions between Beijing and Washington. Data compiled by the ministry showed China and Hong Kong accounted for 31.7 percent of Taiwan’s total outbound sales last year, a drop of 12.2 percentage points from a high of 43.9 percent in 2020. In addition to increasing trade conflicts between China and the US, the ministry said
RSS