Taiwan Business Quick Take – Taipei Times


  • Personal writer, with agencies


Hon Hai struggles to reopen its factory

Apple Inc supplier Hon Hai Precision Industry Co (鴻海 精密) is expected to reopen its closed South Indian iPhone plant in southern India at the earliest Friday, a senior government official familiar with the matter said. The factory, located in the southern state of Tamil Nadu, was closed on December 18, following protests in which 250 of its workers were treated for food poisoning. Apple has since placed the factory on probation after discovering that some dormitories and dining rooms did not meet standards. Hon Hai told the state government of Tamil Nadu that he is still working to address Apple’s concerns about the living conditions of workers, the official said.


Taipower to hire 857 workers

Taiwan Power Co (Taipower,) announced yesterday that it intends to recruit 857 new employees this year to begin filling 3,000 positions to be opened over the next three years. About a third of new job postings are for outdoor tower technicians, the state-owned company said in a statement. Taipower said he would pay a starting monthly salary of NT $ 31,487 (US $ 1,139) to qualified applicants after one year of training. Applications must be accepted from Tuesday next week through Jan. 24, Taipower said, adding that the written exams would take place in May.


Large tanks 70% full

Water levels in the country’s main reservoirs are around 70% at almost full, the Water Resources Agency said in a statement yesterday, as Taiwan enters its dry season. The country experienced a severe drought last year, but water conditions are normal at present, the agency said, adding that there was sufficient water for domestic use and industrial. Irrigation for the first harvest would start as planned, he added. The agency said it will continue to monitor water conditions to ensure a stable supply of water for domestic, industrial and agricultural users. The agency added that it will cooperate with agricultural authorities to prioritize the use of surface water and ponds, as well as to increase the efficient use of water in irrigation.


Yeong Guan signs bank loan

Yeong Guan Energy Technology Group Co (YGG,), a leading supplier of advanced molding components in the country, announced yesterday that it has signed a syndicated loan agreement with the Land Bank of Taiwan (土地 銀行) and five other banks. increase its working capital and repay its debt. The five-year syndicated loan of US $ 130 million and NT $ 2.145 billion is also intended to help finance the purchase of equipment for a new factory in Taichung to start mass production in third quarter, he said in a statement. .


The automotive market boosts the CFTC

China Fineblanking Technology Co (CFTC, China), a manufacturer of metal stamping products, announced yesterday that revenues for the last month were up from November due to a steady recovery in the Chinese auto market. Consolidated revenue rose 4.94% to NT $ 249 million last month, the company said in a statement, adding that on an annual basis, revenue fell 2.37%, while revenue was down 2.37% on an annual basis. Last year’s totals rose 14.54% to NT $ 2.64 billion, from NT $ 2.31 billion in 2020. The company manufactures auto parts, which last month accounted for 69.65% of the total revenue, and moving coil motor plates for hard drive applications, which accounted for 27.13%.

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