Phison Electronics Corp (群聯電子), a supplier of NAND flash memory controllers and modules, yesterday said it has approved the resignation of Pua Khein-seng (潘健成) as chairman, after he was found guilty last month by a district court of financial statement fraud in 2016.
The Hsinchu-based company said that Pua took the initiative of resigning as chairman and board director to meet corporate governance requirements.
However, he is to stay as the company’s chief executive officer and will appeal the ruling, which sentenced him to two years in prison, the company said in a statement.
Photo: CNA
Pua’s resignation will not affect Phison’s operations, technology research and development, or its future goal of growing into a company with more than NT$100 billion (US$3.6 billion) in annual revenue, Phison said.
“Board directors support Pua remaining as CEO and leading the company in attaining that revenue goal,” it said.
Vice president and deputy product business head Gan Wee Kuan (顏暐駩) is to take over as chairman, it added.
The arrangement means that Pua, the largest individual shareholder of Phison, is to take charge of the responsibilities entrusted by the board and look after the long-term benefits of the company and shareholders, it said.
Phison reported NT$16.9 billion in revenue for last quarter and NT$2.38 billion in net income, or earnings of NT$12.1 per share, the second-highest in the company’s history.
Revenue in the first three quarters totaled NT$45.7 billion, while profit stood at NT$32.15 per share, company data showed.
Shares of Phison yesterday closed up 2.38 percent at NT$409, outpacing the TAIEX’s 0.44 percent gain, Taipei Exchange data showed.
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
RSS