| Prime News | | ![]() | ![]() | M2 Growth in September Four-Year Low
Taipei, Oct. 26, 2007 (CENS)—Due to sluggish investment willingness among domestic enterprises and people, plus massive fund outflow, M2, the broadest money supply representing overall fund supply in the market, scored annual growth rate of only 3.47% in September, a four-year low and lower than the floor level of 3.5% of the growth target zone set by the Central Bank of China (CBC).
Meanwhile, annual growth rates of M1A and M1B, money supply in narrower definition, stood at 7% and 6.37%, respectively, in the month, both lower than the August level, adding further evidence to tightening trend in money supply.
M1A is the aggregate of currency in circulation, checking accounts, and passbook deposits, M1B is M1A plus passbook savings deposits, while M2 is M1B added with quasi-money. M2 is an especially important gauge for the CBC in making monetary policy, with its growth target zone now set at 3.5-7.5%.
Despite the decline in M2 growth implying need for a looser monetary policy, insiders noted that the CBC will stick to its policy of raising interest rates further at a gradual pace, attributing the slackening money supply to problem in the demand side, rather than the supply side, adding that change in one or two months is insufficient to ascertain the long-term trend.
A CBC official also believed that CBC's board of directors will raise interest rate further by year end, due to the persistent inflationary pressure and low real interest rates.
Shih Yien, director of CBC's economic research department, agreed that a single-month figure cannot reflect the long-term trend, adding that annual growth rate for M2 supply still reached 4.87% in the first nine months this year.
Shih pointed out that one major factor behind the sluggish M2 supply in September is low banking loans, which grew only 3.31% annually, a three-year low, owing to reduced government loans resulting from bumper tax income, cautious attitude of banks in consumer banking in the wake of twin-card debt storm, and sluggish private investments. Housing loans in September, for instance, dropped to a two-year low level, and the amount of consumer loans was the lowest in recent three years.
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| | ![]() | | | Photovoltaic Industry Emerging as a Star Industry in Taiwan
Taipei, Oct. 26, 2007 (CENS)—Capitalizing on Taiwan's strong edge in semiconductor and TFT LCD (thin film transistor, liquid crystal display), Taiwan's photovoltaic industry is expected to grow at brisk rate in the coming years, with its output value forecast at NT$150 billion in 2010, almost quadruple this year's projected value of NT$40 billion, said Steve Ruey-loong Chen, minister of economic affairs, yesterday (Oct. 25).
Chen made the remark during a seminar on photovoltaic-industry development, sponsored by the Ministry of Economic Affairs (MOEA). The industry's projected output value this year represents whopping 88.7% growth over 2006's NT$21.2 billion (2% of the global output), which, in turn, doubled 2005's NT$7 billion.
The hefty growth is in line with the rapid growth of the global photovoltaic industry, whose output grew at annual clip of 30-40% during the 2000-2006 period, hitting US$36.8 billion in 2006, and is expected to continue advancing 40-60% annually during 2006-2010.
Taiwan excels especially in the solar-cell industry, whose output is expected to top 300 MW (megawatts) this year, up from 2006's 177.5 MW, with its global ranking advancing to fourth place, from 2006's fifth place.
Chen Ruey-loong noted that Taiwan's solar-cell industry will ascend to the third place worldwide and has the potential to become No. 2 or even No.1, as its solid semiconductor industry and TFT-LCD industry can lend it strong support, respectively, for development in both the traditional silicon-based solar-cell production and the next-generation thin-film solar-cell production.
In fact, since 1997, the government has invested NT$700 million in solar-cell R&D and the private sector has invested over NT$20 billion in the sector. In order to speed up development of the solar-cell industry, the government plans to enact the "Statute for Development of Renewable Energy," aiming to boost the number of domestic households with solar-cell device to over 100,000 by 2015, with total installed capacity of 320MW, up from 2004's 0.5MW.
To help achieve the goal, Chen announced that the government will subsidize every municipality NT$30 million next year for setup of pilot photovoltaic buildings, to expand the domestic demand.
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| | ![]() | | | PC Shipments in Asia-Pacific Region Up 24% in Q3
Taipei, Oct. 26, 2007 (CENS)--Shipments of personal computers in the Asia-Pacific region, excluding Japan, totaled 16.1 million units in the third quarter of this year, higher than earlier expectations and up 24% year-on-year, according to a survey conducted by the world-renowned market analyst International Data Corporation (IDC).
The substantial growth showed the Asia-Pacific region has become the locomotive for the growth behind the PC industry worldwide. Of the total PC shipments in the Asia-Pacific region, those of notebook computers posted the highest growth of 60% in the third quarter.
The IDC survey also showed the world PC shipments for the third quarter grew 16% year-on-year and 13% from the preceding quarter. Shipments of PCs in the U.S. marketplace in the third quarter grew 5% year-on-year and 4% from the preceding quarter.
Bryan Ma, director of Asia-Pacific Personal System Research Unit of the IDC, said the growth strength of notebook PCs shipped via retail channels is very impressive. He predicted shipments of notebook PCs in the Asia-Pacific region would be able to reach a new record of 20 million units this year.
IDC's survey showed Lenovo International Holding was the largest PC firm in the Asia-Pacific region in the third quarter of this year, followed by Hewlett Packard, Dell Computer, Acer Computer, and Founder Group.
The IDC attributed the sales growth for notebook PCs in the third quarter in the Asia-Pacific region to the vendors' aggressive pricing strategy and the strong back-to-school demand.
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| | ![]() | | | IAF Launches 23rd World Apparel Convention in Taipei
Taipei, Oct. 26, 2007 (CENS)--The 23rd IAF World Apparel Convention, hosted by the Taiwan Textile Federation (TTF), will end today at the Taipei International Convention Center.
At yesterday's grand opening ceremony, President of the Republic of China delivered a welcoming speech to the attendees of the convention. More than 300 local and foreign representatives have registered to attend the annual forum.
This year, apparel specialists and apparel-related organizations focus on the main theme: "Asia: Emerging Consumer Market from a Global Production Base." Renowned specialists from the apparel supply chain have been invited to share their expertise regarding production, management performance, the impact of high tech innovation, and trends in trade and production.
The International Apparel Federation (IAF), founded in 1976, is a confederation of apparel business associations from countries all over the world. Its members include apparel associations from 33 countries representing over 150,000 apparel companies and over five million employees. IAF's mission is to develop business contacts for the advancement of the global apparel industry.
Attendees of the 23rd IAF World Apparel Convention include chairpersons, CEOs, presidents, vice presidents, directors, entrepreneurs, executives, managers, experts and trade professionals from the apparel industry, designers and brand managers; suppliers of products and services supporting the fashion industry; consulting firms; academies specializing the in fashion industry; national apparel associations and government officials involved in planning for their countries' apparel industries.
At the grand opening ceremony, Marjorie Yang, chairman of the Hong Kong-based Esquel Group, was invited as a keynote speaker. Esquel Group is one of the world's leading producers of premium cotton shirts and is among the most dynamic and progressive global-scale textile and apparel manufacturers, with production facilities in mainland China, Malaysia, Vietnam, Mauritius and Sri Lanka, and a network of branches servicing key markets worldwide.
The IAF forum included four sessions with topics "Trade Liberalization vs. Barriers", "Asia Market: Risks & Opportunities", "Capacity Growth vs. Profitability", and "Technology Developments and Its Application to Production and Marketing."
During the IAF World Apparel Convention, TTF also hosted the exclusive and unprecedented IAF International Designer Award on the evening of October 25. The designer award is aimed at promoting fashion design globally and emphasizes the role of IAF in the world apparel industry. For the first time in IAF history, this vent will take place as a Fashion Runway Show, with the National Palace Museum in the background.
Representative designers from 13 countries, including Colombia, Greece, India, Indonesia, Japan, Macao, Mexico, the Netherlands, Singapore, Spain, Taiwan, Turkey and Vietnam, participated in the designer award. Liesbeth in't Hout, dean of the Amsterdam Fashion Institute (AMFI) attended the awarding activity as the chief of the judging team. In addition, senior journalists from WGSN and Inside Fashion were also on the panel of judges.
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| | ![]() | | | Increase Investments in Asia: Yahoo!'s New President
Taipei, Oct. 26, 2007 (CENS)--Internet service company Yahoo! Inc.'s president, Susan Decker, said her company will increase investments in Asia, including Taiwan, because as per forecasts 36% of the projected 1.8 billion Internet users worldwide in 2010 will be in Asia, the largest proportion of all regions.
Decker pointed out that in 2000 36% of the then 390 million Internet users worldwide were in North America, with only 20% in Asia. But by 2010, the percentage in North America will sharply dwindle to 16%.
Yahoo!'s newly appointed president made the statement during her recent visit to Taiwan on a stop of her Asian tour after assuming the new position. She arrived in Taiwan on Oct 23 to begin her three-day stay on the island.
Decker said Yahoo! had set up an advertisement alliance in the United States in cooperation with 400 websites so that the members, including advertisers, partner websites and Yahoo! itself, will share the profit generated from the tremendous viewer traffic flowing through the member sites.
It is understood that Yahoo! is setting up an integrated advertisement platform that provides different integrations and services based on different characteristics of its member sites. Industry watchers said it is an unprecedented move in the Internet-service industry.
Yahoo! Taiwan executives further elaborated on the platform, saying that a professional technical website, for instance, can advertise its products on the platform despite never having advertised online.
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| | ![]() | | | Spansion Adds SMIC to Its Foundry Supplier List, Ending TSMC Monopoly
Taipei, Oct. 26, 2007 (CENS)--Flash-memory player Spanion Inc. recently announced it has signed an agreement to contract mainland Chinese chipmaker Semiconductor Manufacturing International Corp. (SMIC) to make chips.
For a long time, the world No.1 supplier of NOR-flash memory chips has exclusively depended on Taiwan Semiconductor Manufacturing Co. (TSMC) for foundry manufacturing of its chips.
Spansion began contracting TSMC to make its chips two years ago and has licensed the foundry giant its 0.11-micron, 90-nanometer, and 65-nm Mirror Bit technologies for making its ORNand chips. The two companies have recently extended their cooperation to development of 40-nm process.
Now, Spansion decided to farm out foundry production of its Mirror Bit chips designed on 65-nm and 90-nm rules to SMIC by the end of this year. Industry watchers pointed out the cooperation will enable SMIC to develop strong presence in memory-chip segment.
In response to Spansion's recent decision, TSMC's executives said their company had been informed in advance of the move and their company maintains its previous revelation that NOR-flash memory will constitute 5 to 7% of the company's revenue throughout this year.
Industry watchers pointed out that outsourcing foundry chips from SMIC will help Spansion reduce production cost and, thus, ease pressure on operation loss. Until last quarter, Spansion has suffered loss for 11 consecutive quarters in spite of the company's upbeat forecast for this quarter. The company has opened a chip packaging and testing factory in Suzhou of the mainland.
In spite of allying with SMIC, Spansion's executives said recently that their company will increase outsourcing to TSMC although its contract volume to the Taiwanese foundry supplier already accounted for 15% of its total output until last quarter.
SMIC is the first of the world's top three pure foundry suppliers to enter memory-chip manufacturing. It made DRAM chips for Elpida and Qimonda before Spansion contracted it. In addition, it is working with Saifun, an Israeli chipmaker, on NAND-flash memory manufacturing.
Until the second quarter this year, memory-chip foundry had represented at least 28% of SMIC's revenue, becoming a major business to fill up its capacity. However, low gross margin from memory-chip foundry plus equipment depreciation led to the company's loss of US$2.1 million in the second quarter this year.
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| | ![]() | | | AUO a Triple Winner in September Global TFT-LCD Shipments
Taipei, Oct. 26, 2007 (CENS)--The global shipments of large-sized (over-10-inch) thin film transistor-liquid crystal display (TFT-LCD) panels reached 37.41 million units in September, an increase of 1.2 million units, or a 3% percentage points from previous month and a new monthly record, according to DisplaySearch.
Statistics compiled by DisplaySearch, the worldwide leader in flat panel display (FPD) market research and consulting, showed that AU Optronics Corp. (AUO), Taiwan's largest TFT-LCD supplier, led in terms of overall large-sized shipment, shipment area, and LCD TV panel shipment.
David Hsieh, president of DisplaySearch Taiwan Office and vice president of DisplaySearch Greater China, pointed out that the panel market is expected to continue to face a supply shortage and he is very optimistic about a favorable business climate in the fourth quarter, the traditional peak season.
Regarding next year's global market, Hsieh estimated that the global TFT-LCD capacity growth would be about 21%, compared with the demand growth of about 28%, implying a demand-over-supply scenario. In addition, he added, most downstream customers are in an anticipatory mood for tight panel supply in 2008.
In September, according to DisplaySearch's data, Taiwan's top-three panel suppliers, including AUO, Chi Mei Optoelectronics Corp. (CMO), and Chunghwa Picture Tubes, Ltd. (CPT), together accounted for a global share of 45%, which for the first time outstripped that (41% in the same period) of the top-two South Korean rivals Samsung Electronics and LG.Philips LCD Co., Ltd. (LPL).
As for the accumulated shipment volume, LPL pulled ahead all global rivals to win the No. 1 position with 57.7 million units, while the No. 2 AUO fell behind with a very short distance--57.6 million units. Samsung ranked the No. 3 with shipment volume of 55. 7 million units. Industry sources said that AUO stands a chance to challenge the world's top large-sized TFT-LCD panel supplier.
The accumulated global large-sized TFT-LCD shipment topped 280 million units, in which notebook PC panels accounted for 81 million, monitor panels 135 million, LCD TV panels 58 million, and industrial application panels 9 million.
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| | ![]() | | | AUO Unveils Breakthrough Technologies at FPD International 2007
Taipei, Oct. 26, 2007 (CENS)--AU Optronics Corp. (AUO), the largest thin film transistor-liquid crystal display (TFT-LCD) panel maker in Taiwan, unveiled its breakthrough technologies for mobile device applications at the on-going FPD International 2007 (October 24-26 in Yokohama, Japan), including two kinds of in-cell multi-touch panel technologies and the world's thinnest 1.9-inch mobile device panel at 0.69mm.
Though already the world's No. 1 player in terms of shipment volumes of large-sized panels and LCD TV panels in September, AUO's newly introduced small- and medium-sized display technologies once again show the company's aggressive approach towards strengthening self-developed innovations and increasing value-added products.
Unlike the touch panel applications currently on the market, AUO's two newly-launched 4.3-inch multi-touch panel technologies both implement the "in-cell" design, which integrates touch function features into the TFT-LCD manufacturing process without adding any additional glass and thus are able to retain a thickness of 2.2mm with a resolution of 480 x 272 (thinner than conventional touch panel applications).
Also, the two in-cell touch panel models both have superior anti-glare properties to retain proper image color saturation and readability under sunlight. Furthermore, AUO's multi-touch panel technologies have overcome the inconvenience of frequently-required calibration of conventional touch panel applications, and feature real-time true multiple touch point detection allowing users to easily slide their fingers on the screen to better enjoy the touch panel experience.
AUO has been dedicated to developing touch panel technologies for many years, and the company is scheduled to begin mass production in 2008 of the new products, which feature the company's in-house developed technologies and are regarded as one of few touch-panel technologies worldwide to integrate the fabrication of the LCD cell in the manufacturing process.
By implementing the latest technologies for cutting the thickness of glass and related components of a LCD cell, AUO revealed the world's thinnest 1.9-inch mobile device TFT-LCD at thickness of only 0.69mm, 13% thinner than a credit card. The new LCD screen with a weight of only 2.2 grams and 400-nit high brightness accomplishes a multitude of features including light, slim, elegant and sunlight readable to suit current mobile lifestyles, AUO said.
AUO's other human-interface device technologies demonstrated at FPD International 2007 include a 7-inch 2D/3D dual-image car display, which is able to display both 2D and 3D images in different directions simultaneously. With this 2D/3D dual-image function, drivers could be restricted to watch only relevant information such as GPS navigation, while a front-seat passenger could play 3D games. In addition, another breakthrough technology is AUO's 2.2-inch mobile device display with mobile industry processor interface (MIPI), featuring high-speed data transmission functions and efficient power-management systems. MIPI is regarded as the development platform for smartphone applications and have the potential to accelerate the growth of the value chain in the mobile industry.
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| | ![]() | | | Remittances Across Taiwan Strait Hit Record High in August
Taipei, Oct. 26, 2007 (CENS)--The banks in Taiwan witnessed monthly record high of US$14.174 billion in China-bound remittances in August of this year, according to the statistics released by the Cabinet-level Financial Supervisory Commission (FSC).
Ranking officials in the banking system attributed the sharp rise in such remittances to the recent bullish stock market in China, particularly the bourses in Shanghai and Shenzhen, which have attracted increasing investors from Taiwan albeit sometimes via indirect channels. Besides, they are also quite interested in the thriving fund market in China, which have drawn increasing investments from Taiwan investors.
In the first eight months of the year, the China-bound remittances accumulated to US$102.117 billion, chalked up by near 30% from last year's corresponding figure of US$80.405 billion. Recently domestic enterprises having operations in China prefer using banking remittance for financial transactions instead of issuing letter of credit (L/C), a traditional, popular means of payment. Insiders believed that this was also one of the reasons for the ballooning China-bound remittances.
Besides, there is an upward trend among the rich in Taiwan to buy real estate and properties in China, which also has helped boost China-bound remittances.
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| | ![]() | | | Makalot Industrial Boasts Record Profits of NT$1.3 B. in First 9 Months
Taipei, Oct. 26, 2007 (CENS)--Makalot Industrial Co., Taiwan's leading garment maker, raked in pretax profits of NT$1.298 billion (US$39.33 million at US$1 = NT$33) in the first three quarters of this year, a whopping growth of 56% from NT$833 million (US$25.24 million) posted in the same period of last year.
Based on the current capitalization of NT$1.427 billion (US$43.24 million), the company saw its earnings per share (EPS) stand at NT$9.1 (US$0.28) in the first nine months. However, insiders predicted that the company's EPS might not reach the goal of NT$11-12 (US$0.33-0.36) set for the fourth quarter due mainly to the recent appreciation of local currency against the greenback and the sharp fluctuation in the prices of raw materials.
In September alone, Makalot witnessed its revenues hit a new monthly high of NT$1.54 billion (US$46.67 million), with pretax profits of NT$156 million (US$4.73 million). The profits was less than the corresponding NT$180 million (US$5.45 million), a peak posted two months ago, yet up by more than 30% from NT$119 million (US$3.61 million) recorded in the same month of a year earlier.
In the third quarter the company scored pretax profits of NT$480 million (US$14.55 million), the highest of its kind ever recorded. With good performance, the company's share price in the stock market soared to NT$104 (US$3.15) per share at the end of July and once fell to NT$79 (US$2.39), but bounced back to near NT$90 (US$2.72) last week.
A senior manager in the company said that Makalot's good performance in the industry is due mainly to its successful operations in Asia, including China, Cambodia, Vietnam, Indonesia, and the Philippines, particularly the expansions in the former three countries that have helped to significantly lower the company's manufacturing cost.
The company, although impacted by price hikes in raw materials, still estimated to see a slight annual rise in gross profit rate to 23% this year.
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| | ![]() | | | DynaPack Posts Sharp Profit Growth of 68% for First 3 Months
Taipei, Oct. 26, 2007 (CENS)--Thanks to robust growth in shipment of notebook PCs this year, DynaPack International Technology Corporation, a Taiwan-based maker of power supplies for consumer electronics, saw its net profits for the first three quarters shoot up 68% from a year earlier to reach NT$667 million, according to company sources.
Furthermore, after adding Dell into its client list this year, DynaPack is very likely to boost its shipment of battery packs by more than 30% next year, according to institutional investors.
Taiwan's three major suppliers of battery packs, namely Simplo Technology Co., Celxpert Energy Corp. and DynaPack, are expected to report banner sales and profits this year, as a penetration rate of notebook PCs in the PC market has enjoyed higher growth than expected for this year.
According to the latest report by International Data Corporation (IDC), global shipment of notebook PCs is estimated to exceed 100 million units this year. Budget-price laptops, scheduled to be launched in the fourth quarter, are expected to fuel more demand for battery packs next year.
Besides, with Taiwanese makers of battery packs already building solid reputations in the global market, Japan's brands of notebook PCs will probably start to swift their orders to them next year.
Recently, a fire occurred in the Japan-based Matsushita's manufacturing plant of cells, leading to tighter supply of cells. DynaPack projected that the shortage won't be solved till next April, but the firm could still secure ample supply of the material from other sources.
DynaPack has run at a monthly production capacity of up to one million battery packs since this May, and the figure once moved up to 1.2 million units in September. The firm noted that its capacity may slightly decline in October due to tight supply of cells, but will probably pick up a month later, when it will start production with a new batch of cells.
DynaPack reported aggregate revenue of NT$9.232 billion for the past three quarters of this year, up 64% from a year earlier. The firm posted gross profits of NT$852 million, surging 62% from last year. Although its gross profit rate for the period dropped by 0.11 percentage points from a year earlier, the firm posted a profit rate of 7.15% in sales, up from 6.18% posted last year.
Institutional investors predicted DynaPack's shipment to break 1.1 million sets of battery packs this year, with sales revenue to exceed NT$12 billion. After reporting shining sales performance for the past three quarters, the firm is expected to attain net profits of NT$9 per share for entire this year, up from an original projection of NT$7.5-8.5.
DynaPack, whose major clients include HP and Apple, has smoothly added Dell to its client list this year to cushion the impact of the fact that rival Simplo has already squeezed into Apple's supply chain for battery packs. Thanks to Dell, the firm will witness its shipment of battery packs go up in the second half of this year, and further post a 30% shipment growth next year, according to institutional investors.
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| | ![]() | | | Qisda Scores EPS of NT$1.07 for First 3 Quarters
Taipei, Oct. 26, 2007 (CENS)--Since being spun off from BenQ Corporation, Qisda Corporation, a maker of electronics products in Taiwan, has had its business operations turn profitable, with net earnings per share (EPS) of NT$1.07 for the first three quarters of this year, according to company sources.
Qisda recently reported its combined revenue of NT$11 billion for September, but posted earnings of only NT$14 million, indicating the room remains large for the firm to improve the profit performance of its core business.
David Wang, vice president of Qisda, said that aided by a boom in the fourth quarter, the firm will see its contract production of liquid crystal displays (LCDs), projectors and LCD TVs for the fourth quarter increase from the third quarter. Noteworthy is that the firm recently approved a US$10 million plan for expanding the capacity of its manufacturing plant in the Czech Republic, which specializes in production of modules for AU Optronics Corp.
Qisda reported a core-business loss of NT$1.39 billion for the third quarter, which was lower than expected due mainly to the firm continuously reducing its spare inventories, which are expected to run out in the fourth quarter.
But Qisda raked in non-operating income of NT$4.29 billion by disposing of its building offices and long-term holdings in the third quarter, making the firm score earnings of NT$2.8 billion during the quarter. Based on its capitalization of NT$15.3 billion, the firm's net profits for the quarter stood at NT$1.84 per share, pushing up its net worth to NT$13.66 per share.
Wang said that Qisda garnered combined revenue of NT$36.58 billion for the third quarter of this year, including NT$11 billion from contract production alone in September. In fact, the firm's contract production in the quarter have grown by 20% from a quarter earlier, especially such products as liquid crystal displays, multi-functional peripherals and projectors.
Also, Qisda posted aggregate revenue of NT$98.401 billion for the first three quarters of the year, gross profits of NT$7.015 billion, core-business loss of NT$4.383 billion, non-operating income of NT$6.14 billion, pretax profits of NT$1.757 billion and net profits of NT$1.41 billion or NT$1.07 per share.
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| | ![]() | | | Taiwanese Women Wield Highest Financial Clout in Asia-Pacific
Taiwanese women appear to have the highest financial clout of all women in the Asia-Pacific region, according to a study released recently by the Merrill Lynch Group and Capgemini Consulting.
The study shows that in 2006 women accounted for 43% of Taiwan's 66,000 rich persons, defined as those with assets of more than US$1 million. This was the highest percentage of the nine markets covered by the study.
A high ratio of rich women is, in fact, a common characteristic of the greater China area, with China and Hong Kong having 38% and 34%, respectively. In all of the other areas covered, the share of female rich was under 30%. In India only 12% of the rich were women, the lowest ratio found by the study, while Australia and South Korea were second and third lowest with 15% and 19%, respectively.
Liu Chang-hsing, general supervisor of the greater China market section of Merrill Lynch's global wealth-management department, attributes the high financial status of Taiwanese women to a large number of female startup founders on the island. In many cases, these women entrepreneurs are backed by the financial resource of their families.
The number of rich persons in Taiwan grew 12.1% to 66,000 in 2006, accounting for 2.6% of all the rich in the Asia-Pacific region. They commanded total assets of US$220 billion, also 2.6% of the total assets of the region's rich. The average person on Taiwan's rich list had assets of US$3.3 million, comparable to the regional average.
According to the study, the management of enterprises was the main source of fortunes in the Asia-Pacific region.
The Taiwanese rich appeared to be relatively conservative in their money management; bank deposits accounted for 19% of their total assets, the highest ratio in the region. Stocks and real estate accounted for 28% and 24%, respectively, of their investment portfolios.
Meanwhile, the number of super-rich persons (those with over US$30 million in assets) in the region advanced 12.2% to 17,500 last year. Taiwanese super-rich accounted for 490 of that number.
The recent study is just the latest evidence of the powerful status of Taiwanese women in local society. The Gender Empowerment Measure, released by the Directorate General of Budget, Accounting and Statistics (DGBAS) earlier this year, for instance, shows that Taiwanese women rank second in Asia in political and financial decision-making clout, trailing only Singaporean women. Also, the ranking of Taiwanese women in the "2007 Asia-Pacific women's progress index," compiled by Master Card, jumped to third place from ninth in 2006, thanks to their remarkable progress in the job market and higher education.
To further assist local women in their career development, the Taiwanese government launched a "small startup loans for women" program in March this year, offering NT$500,000 each in soft loans to women who found startups. By the end of August, NT$2.8 billion worth of such loans had been extended. (PL, Oct. 2007)
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