| Prime News | | ![]() | ![]() | Import Ban on 79 China-Made Goods May Be Lifted
Taipei, Oct. 5, 2007 (CENS)--In response to the strong urge of the European Chamber of Commerce Taipei and the American Chamber of Commerce Taipei, the Ministry of Economic Affairs (MOEA) has in principle agreed to lift import ban on 79 China-made goods, the bulk of them textiles such as men's cotton suits, men's wool suits, and overcoats, which will be finalized at an inter-ministerial meeting at year end.
The 79 items include five industrial goods and five agricultural goods, all of the former are textiles, as a result of which not only low-cost Chinese clothes but also renowned European brand apparels made in China will be able to enter the island.
The move, if finalized, will be the second major import liberalization for Chinese goods, following opening up for over 1,000 Chinese industrial and agricultural goods in 2002, in line with the island's accession to the World Trade Organization (WTO).
Should the proposed import liberalization be approved by the inter-ministerial meeting for screening import of Chinese goods, held every other month, it will be put into practice from November. Local European brand agents have been preparing for the import liberalization.
The import liberalization has been made under the instruction of vice premier Chiou Yi-jen, who pledged the European Chamber of Commerce and the American Chamber of Commerce to review the import ban on Chinese goods shortly after assuming the office in July this year.
The two bodies have been strongly criticizing the import ban, saying it violates the free-trade principle of the WTO. In recent years, growing numbers of European brands have outsourced their manufacturing to China, but the China-made products have not been able to enter Taiwan.
The two chambers of commerce, though, are still unsatisfied with the import liberalization, saying that the liberalization items are only a portion of their requested list which covers 340 items, including many of their high concern such as electrical machinery and auto.
((PL)) (GE) | |
| | ![]() | | | FSC Relaxes Regulations for Problem Banks to Seek Fund Relief
Taipei, Oct. 5, 2007 (CENS)--To help local financial institutions in financial strait seek financial relief, notably that from private-equity funds, the Financial Supervisory Commission (FSC) has incorporated those with red ink exceeding one third of their paid-in capital into the category of problem institutions, exempting them from the 25% shareholding ceiling for a single shareholder.
The existing restriction has posed as a major difficulty for private equity funds in taking over domestic small and medium banks, many of which mired in financial strait, forcing the former to abandon their plans or making roundabout arrangements.
Currently, there are about seven to eight domestic banks with loss having surpassed one third of their paid-in capital, including Cosmos Bank, Entie Bank, and Chin Fong Bank.
According to the Banking Law, a single individual or related party cannot own over 25% stake in a domestic bank, except financial holding firms, government ownership, or for the purpose of handling problem financial institutions, which are now defined as those suffering serious business or financial deterioration and being incapable of paying their debts or protecting depositors' interests.
The broader new definition is in line with the revised stipulation of the Banking Law, enacted in March this year, which empowers the FSC to require banks with loss exceeding one third of their capital to carry out capital increment within three months, and to take over or suspend their operations should they fail to do so by the deadline.
((PL)) (GE) | |
| | ![]() | | | FIA Asia Derivatives Conference 2007 to Open Oct. 10
Taipei, Oct. 5, 2007 (CENS)--The Taiwan Future Exchange (TAIFEX) will hold the FIA Asia Derivatives Conference 2007 Oct. 10-12 in Taipei. The conference is expected to draw participants from 18 exchanges, and the traders of futures commodities worldwide.
In addition to organizing the FIA conference, at the end of November the TAIFEX will tie up with the Chinese National Futures Association to take part in the FIA annual meeting held in the U.S. They will set up a stand to solicit global investors there.
Chin-cheng Yeh, chairman of the TAIFEX, noted he hopes the ratio of transaction volume of foreign investors to the island's overall futures transaction volume will be raised to 10% in 2008 from present 6%.
Headquartered in Washington D.C., the FIA is currently the world's largest institution for futures trading. Due to the prosperous development of Asia's derivative products, last year the FIA set up the FIA Asia to help promote the derivative products in the entire Asia-Pacific region. All the FIA's official members in Asia have automatically become the members of the FIA Asia.
The TAIFEX said Asia has become one of the world's fast-growing regions for derivative products, accounting for over one-third of the worldwide transaction value. But the cooperation among futures exchanges in Asia has been stalled because of their different regulations and practical operations.
To help establish mutual communication mechanism among the futures exchanges in the entire Asian region, the FIA has been conducting FIA Asia Derivatives Conference since 2004 as a cross-border platform for encouraging interchange of Asia's futures exchanges.
((BS)) (GE) | |
| | ![]() | | | New Association for Machine-tool Industry Set Up in Taichung
Taipei, Oct. 5, 2007 (CENS)--The Taiwan Machine Tool & Accessory Builders' Association is to be set up this afternoon (Oct. 5) in Taichung City, central Taiwan. More than 500 domestic firms of machine tools and relevant components have registered to join the newly established trade association.
Edward Yang, president of Goodway Machine Corp., is expected to be chosen as the chairman of the newly established association. Carl C.C. Huang, secretary general of the Precision Machinery Development Association of Taiwan, R.O.C., will be designated as the secretary general of the association.
Yang said the overall annual production value for machine tools and relevant components domestically has exceed the NT$200 billion (US$6.15 billion at US$1:NT$32.5) mark. Recently domestic manufacturers in this field have been making all-out efforts to jump into the European market in which the machine-tool industry is fast growing.
In the past, domestic firms of machine tools and relevant components could only join in the 60-year Taiwan Association of Machinery Industry (TAMI). Yang said the newly established association will closely cooperate with the TAMI, despite their independence nature, to do everything benefiting domestic machine-tool industry.
Although the new association was approved by the Ministry of the Interior in May this year, it has procrastinated the holding of the inaugural ceremony because of the participation of most domestic leading firms of machine tools in the EMO Hannover 2007 exhibition, which ran from Sept. 17-22 at Messe Hannover of Germany.
Yang said domestic participating firms in the EMO Hannover exhibition have made great achievements because of the economic recovery of Western and Eastern Europe and Russia.
For instance, Goodway Machine Corp. and Awea Mechantronic Corp. sold out eight models of multi-stack lathes, double-column machining centers and C-type machining centers displayed at the six-day EMO Hannover 2007 exhibition with some follow-up orders.
Other leading manufacturers of machine tools, including Yeong Chin Machinery Industries Co., Victor Taichung Machinery Works Co., Tongtai Machine & Tool Co., and Fair Friend Enterprise Co., and such manufacturer of precision components as Hiwin Technologies Corp., all predicted they will see a 50% year-on-year growth in sales to the European marketplace this year.
According to statistics compiled by the TAMI, Taiwan exported US$1.57 billion worth of machine tools to the European Union market in the first half of this year, up 16.7% year-on-year. Of this, exports to Germany grew at the most at 75.8% to reach US$58.08 million, followed by US$57.52 million to Italy, up 57%. The exports to the Netherlands grew by 33.2%.
Yang noted machinery will soon become Taiwan's another industry with annual production value totaling NT$1 trillion (US$30.76 billion), in addition to semiconductor and flat-panel ones.
((BS)) (M) | |
| | ![]() | | | Over 30,000 Taiwanese Firms Closed in First 8 Months
Taipei, Oct. 5, 2007 (CENS)--In the first eight months this year alone, over 30,000 Taiwanese enterprises shut down operations, shooting up 51.82% from the same period of last year, according to rating agency China Credit Information Service Ltd. of Taiwan.
The company closures in the first eight months represented a total capitalization of NT$312.9 billion (US$9.4 billion at US$1:NT$33), surging 40.25% year on year.
China Credit's executives pointed out that the shutdown number represents one and a half businesses phasing out of market for every one new business opened in the meantime, a record high in seven years and showing growing risk for business operation in Taiwan.
They noted that nearly half of the scrapped businesses throughout last year and in the first eight months this year were enterprises lasting operation barely five years, suggesting startups especially those younger than three years pose the highest potential of credit crisis.
The rating agency pointed out that the first 10 years are the most crucial period for a new business and over 70% of the companies that go through the harsh 10 years can survive.
The organization's statistics show that the number of companies shuttered last year on the island was higher than the corresponding figure of 2005 by only a marginal 3%, but last year's shuttered companies registered a total NT$347.3 billion (US$10.5 billion at US$1:NT$33) in capitalization, soaring 82% from the number registered a year before. implying that large-scale business closedown was much more serious last year than in the year earlier.
Last year, only 38,237 new companies were opened on the island while 36,618 companies closed, representing every one company was opened amid around 0.96 company closed.
By rate of checks bounced, an estimated 1,767 checks worth of NT$388 million (US$11.7 million) were refused every day by financial institutions on the island in the first seven months this year, according to China Credit.
China Credit analyzed that overdue loan ratio at the island's banking system began gradually declining after peaking in 2001's 8.16% and the ratio came down to relatively low points in 2003 and 2004. In 2005, the ratio lowered to only 2.38%. Last year, the ratio began turning upwards again, to 2.59%.
((KL)) (GE) | |
| | ![]() | | | Taiwan's Top Three Science Parks Projected to Have Over NT$2 Trillion Revenue This Year
Taipei, Oct. 5, 2007 (CENS)--According to the Cabinet-level National Science Council (NSC), Taiwan's top three science parks under its supervision are likely to have combined annual revenues of up to NT$2 trillion (US$60 billion at US$1:NT$33) by the end of this year.
The council bases its upbeat forecast on the total revenues of NT$1.2 trillion (US$37 billion) the three parks turned out in the first eight months this year.
Deuring the period, the Hsinchu Science Park turned out revenue totaling NT$737.3 billion (US$22.3 billion), surging 3.36% year on year; the Central Taiwan Science Park had NT$156.4 billion (US$4.7 billion), increasing 54.66% from the same period of last year; and the Southern Taiwan Science Park raked in NT$331.3 billion (US$10 billion), gaining 16.86% over the comparable period of last year.
NSC has projected the Hsinchu park to turn out NT$1.25 trillion (US$37.8 billion) in revenues for the whole year, up around 11% from last year. The central Taiwan park is forecast to see revenue surge 34% to NT$240 billion (US$7.2 billion) by the end of this year. An estimated NT$520 billion (US$15 billion) will come from the southern Taiwan park by the end of this year, soaring 25% from a year earlier.
The semiconductor industry was the major revenue source of the three parks in the first eight months this year, accounting for 51.8% of the three parks' total revenue with a combined NT$634.57 billion (US$19 billion). Moderate growth of global market for consumer electronics and telecommunications equipment led to a combined 6.7% increase of the parks' semiconductor segments in the first eight months from the same period of last year.
The optoelectronics industry contributed the second-largest portion of the three parks' revenues in the first eight months this year with a combined NT$474.2 billion (US$14 billion) sales, increasing 23.2% year on year.
For the central and southern Taiwan parks, the optoelectronics segment was the major growth momentum in the first eight months this year. Optoelectronics revenue generated by the central park was NT$129.4 billion (US$3.9 billion), accounting for 82% it's total revenue and surging 42.48% from the same period of last year. The southern Taiwan park had optoelectronics revenues of NT$199.4 billion (US$6 billion), accounting for 72% of the park's total revenues and gaining 19.9% year on year.
((KL)) (GE) | |
| | ![]() | | | Taipei Computer Assn. to Tap Medical Information Market in China
Taipei, Oct. 5, 2007 (CENS)--Taipei Computer Association (TCA) recently led a delegation to several hospitals in Shangdong Province of mainland China, hoping to grab lucrative business opportunities generated by China's rising medical information market and find some software contractors there.
To help local companies explore the medical information business, TCA has established an e-medical promotion association for several years to comply with the government's policy to expand various information applications in the medical industry.
In 2002, the said association was commissioned by the government to popularize the National Health Insurance IC Card infrastructure on the island and link with the Bureau of National Health Insurance to transfer medical expense data through the Internet.
According to TCA, the visiting delegation called upon several major hospitals in Shangdong and held seminars with distributors and medical-information software companies there.
TCA pointed out that various medical information systems, such as registry, medicine quotation etc., in hospitals in Shangdong have yet to be fully integrated, and most hospitals lack know-how and experiences in medical information management and applications, creating a market niche for related Taiwan companies.
Many Taiwan firms have received invitations from major medical institutions in Shangdon to make presentations for medical-information platform and software/hardware integration, and are expected to win some orders soon, according to TCA.
Eyeing the lucrative and big Chinese medical information market, many international players such as GE, Siemens etc. have explored the market with their advantageous medical imaging system products, while IBM ventured software and big machines into major medical institutions in big cities. TCA, however, has been trying to help Taiwan medical-information companies explore the potential market by first tapping second-class cities.
In addition to Shangdong, TCA said that it also plans to contact related authorities in Suzhou of Jiangsu Province for possible interaction chances, and incorporate the medical information sector into the 2008 Taipei International Information Technology Show (Computex Taipei), one of the world's top-three information and communication technology (ICT) exhibitions, to promote the cooperation among 3C (computer, communication, and consumer electronics) companies and medical information, sporting goods, and drug/cosmetics distribution channel players.
((QL)) (G) | |
| | ![]() | | | Domestic New-car Sales Decline Again in Sept.
Taipei, Oct. 5, 2007 (CENS)--A total of 21,632 new cars were sold in Taiwan in September, down 13.5% from the same period of last year, according to statistics complied by the Ministry of Transportation and Communications (MOTC).
The new-car sales volume has fluctuated over the past few months. In August, sales grew by 38% from a year earlier, but soon suffered a decrease in September. Some automakers analyzed that the most critical factor in deciding local new-car market's flotation is the sales performance of Hotai Motor Co. Ltd., which sells locally made and imported Toyota and Lexus car models.
Hotai won a 31.7% share of domestic automobile market in the first nine months, but its share was only 22.4% in September with a volume of 4,855 units, a 29.1% decrease from the same month of last year.
Honda Taiwan Motor Co., the local producer of Honda car models, however, reported a big win in September by selling 2,361 units, up 45.5% from a year earlier, though the number of the company's car models is fewer than other major counterparts.
The new CR-V sport utility vehicle (SUV) was the best-selling passenger-car model in September for the fourth consecutive month, and played a vital role in helping Honda Taiwan win a 10.9% share.
Supported by the impact of its latest Lancer Fortis sedan, China Motor Corp. (local producer of Mitsubishi cars) saw its domestic market share climb to the year's high of 17.2% in September, compared with 14.6% for the January-September period.
Market insider pointed out that in order to celebrate its 60th anniversary Hotai intently boosted its August sales volume to 10,000 units, shooting up 178.7% from the same period of last year. But the monthly volume dropped clearly to only 4,855 units in September, down 29.1% from a year earlier and translating into a record low market share of 22.4% (compared with 31.7% in the first nine months) due to rapidly shrank promotion incentives.
Hotai's poor sales performance dragged the overall market down to 21,600 units in September, down 13.5% from the same month of last year and lower than the about 24,000 units originally forecasted by most automakers.
In the first nine months, 250,000 new cars were sold in Taiwan, and all major automakers have adjusted down their annual overall market forecast to 320,000 to 330,000 units.
Amid the sluggish market, some companies still show strong competitiveness, like Honda Taiwan. If counting only the passenger-car segment, Honda Taiwan was the No. 2 player with volume closely trailing Hotai.
China Motor expects that its new Lancer Fortis can further upgrade sales performance in this month.
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| | ![]() | | | Govt. Investments Contribute Little to Economic Growth
Taipei, Oct. 5, 2007 (CENS)--A report released by the budget committee of the Legislative Yuan (Parliament) pointed out that the government's investments have made negative contribution to Taiwan's economic growth for seven consecutive years, although the ruling Democratic Progressive Party (DPP) has pledged to revitalize the island's economy since it assumed the administration about seven years ago.
To enhance the economy, the government has created a series of catchy slogans to match with its projected investments, such as "mega warm, mega investments," 'one profit for one week," "activating Taiwan development with NT$810 billion investments" "NT$500 billion for public projects in five years," etc. Despite the grand-sounding slogans, the projects have gone off with a thud as they seemed to lag behind schedule.
The DPP government has appropriated at least NT$633.4 billion (US$19.2 billion at US$1 = NT$33) in additional budgets for public infrastructure projects over the past seven years. However, some of the budgets have been inappropriately invested in the setup of a number of the nicknamed 'mosquito halls,' which mean that the halls have become places for raising mosquitoes since they have seldom been used after being completed.
The statistics compiled by the Cabinet-level Directorate General of Budget, Accounting & Statistics (DGBAS) showed that the government's spending and investments in state-owned enterprises contributed minimal 0.36 of a percentage point to Taiwan's economic growth of 4.07% in 2005.
Besides, the government witnessed slow execution of the budget. For instance, the program of NT$500 billion budget for expanding public projects in five years witnessed 15% of the budget appropriated for 2005 still not spent yet at the end of 2006, not to mention that only 36% of the island's annual budget for 2006 has been used so far.
The Legislative Yuan's report criticized that the government did not conscientiously plan the national project outlay by mixing special budget with regular annual budget to evade the legal limitations and even tried to budget for some projects that had already been turned down by the Executive Yuan.
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| | ![]() | | | Taiwan's Foreign Banks See Profits Soar Six-fold to NT$16.9 B. in First 8 Month
Taipei, Oct. 5, 2007 (CENS)--Taiwan's 31 foreign banks generated profits of NT$16.957 billion (US$513.85 million at US$1 = NT$33) in the first eight months of this year, presenting six-fold growth from the corresponding figure of last year, according to the statistics released by Cabinet-level Financial Supervisory Commission (FSC).
In the same period, Citibank topped with profits of NT$9.596 billion (US$290.79 million) for a sharp annual growth of 184% and accounted for 57% of the total profits earned by all of the foreign banks here.
Insiders said that most foreign banks in Taiwan focus on investment banking business, which influenced by heavy fluctuation in global stock and foreign exchange markets in August and therefore suffered a loss of NT$1.058 billion (US$32.06 million). As a result, their total profits in the first eight months reduced to NT$16.957 billion (US$513.85 million) from the corresponding NT$18 billion (US$545.45 million) recorded a month earlier.
Taking ABN AMRO Bank for example, the Dutch bank saw profits stand at NT$48 million (US$1.45 million) at the end of July and a month later it unexpectedly suffered a loss of NT$704 million (US$21.33 million). Other foreign banks witnessing losses in August included JP Morgan Chase Bank and UBS AG, the former is an American bank and the latter a Swiss bank, which posted loss of NT$320 million (US$9.7 million) and NT$275 million (US$9.33 million), respectively during the month.
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| | ![]() | | | TGB Unveils Deluxe Maxi Scooter at Italian Exhibition
By QUINCY LIANG
Taiwan Golden Bee (TGB), a major Taiwanese maker of powered two-wheelers (PTWs) and all-terrain vehicles (ATVs), is introducing greatly improved models at the 65th International Motorcycle Show Italy (EICMA MOTO 2007), being held on Nov. 6-11 in Milan.
TGB sales manager Arthur Lin reports that his company will introduce 125cc and 250cc electronic fuel-injected (EFI) versions of the X Motion maxi scooter, both meeting Euro 3 emissions standards. "The state-of-the-art X Motion perfectly integrates classical elegance and precise craftsmanship, together with deluxe accoutrements and human-centered design," Liu asserts.
The X Motion features a water-cooled four-stroke, capacitor discharge ignition (CDI), Euro 3-compliant, vertical-cylinder engine with a maximum horsepower of 12.4/8500 ps/rpm (125cc version) or 21.4/7750 ps/rpm (250cc version). Other features include a V-belt continuous variable transmission (CVT). Front and rear disk brakes, 120/70-14 front tire and 140/60-13 rear tire, length-width-height of 2,144 x 680 x 1392 mm, a seat height of 790 mm, and a fuel-tank capacity of 11 liters.
TGB welcomes all EICMA MOTO attendees to its booth to see this new maxi scooter, which incorporates the company's strong design, development, and manufacturing capabilities.
The company's new ATV, sporting a 400cc high-performance single-cylinder engine developed jointly with Morini Franco of Italy, is already receiving a wild reception worldwide. It was rated by France's QUAD magazine as being the best in overall performance, top-end equipment, and styling.
TGB's even newer 500cc ATV products are sure to be a center of attention during the show.
Becoming a Major Global Player
These are only some of the latest products from TGB, a globally competitive developer and manufacturer of complete motorcycles and ATVs as well as CVT systems and parts that incorporate industry-leading technology. The company expects to grow into a major global player within the next few years by launching a steady stream of new products with world-class quality and competitiveness. Products currently under development include 500cc and 800cc motorcycle engines and multi-wheeled side-by-side utility vehicles.
Founded in 1978, TGB enjoys ISO 9001 and QS 9000 certification, and all of its vehicles and engines meet EC and American EPA and DOT standards. The company won Taiwan's National Good Quality Award for the fourth consecutive year in 2006, and in 2007 was cited by the Taiwan External Trade Development Council (TAITRA) as one of the "Top-10 Excellent International Brands in Taiwan."
TGB is Taiwan's first and largest maker of CVT systems and parts. It originally relied on Italian technology; as it developed into one of the world's key suppliers of such products, however, it learned to stand on its own. Today its CVT systems for PTWs of up to 1000cc are used by major PTW makers all over the world (and especially in Europe), including Piaggio, Minarelli, and Morini Franco, of Italy; Peugeot, of France; Rotax of Austria; Polaris of the United States; and Fuji Heavy Industries of Japan.
The company expanded into the development and production of complete PTW and engine products in 1993 and is now a leading exporter of scooters and ATVs (at an annual volume of about 60,000 units) to Europe, the U.S., and Southeast Asia. It claims that its products are equal in quality to those from Japan, while being more competitive in price.
"We are very proud of the quality and durability of our vehicles, as well as our strong system-integration capability," stresses TGB's president, George Lin. "Our main advantage is the superb performance of the engines used in our vehicles, our sophisticated design, and our unrivaled after-sales service, which have long been recognized by major buyers in Europe and America."
TGB's latest 403cc single-cylinder engine produces about 30 hp and was designed specifically for ATVs. Among other innovations, the original single-shaft drive was modified into a double-axle model that allows switching from two-wheel drive to four-wheel drive. New 500cc single-cylinder and 800cc double-cylinder engines, now under development, will propel TGB into the Big Leagues of engine manufacturers. (Sept. 2007)
Captions:
1.TGB's new X motion maxi scooter will wow visitors at EICMA 2007.
2.The new scooter model features outstanding technical details.
3.The X Motion has an outstanding state-of-the-art design from top to bottom. | |
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