Thursday , July 20 2017
Breaking News


Indonesia cooperates with Taiwan to uncover drug smuggling


TAIPEI: The National Police have cooperated with the Taipei Police to investigate the case of one ton of shabu-shabu (crystal methamphetamine) smuggled into Serang, Banten, from Taiwan. On Sunday, police officers and five investigators from the Criminal Investigation Division (CID) of the Taipei Police lead by Col. Jay Lee staged a reconstruction of the case, beginning with when the receiver ... Read More »

Taiwan Customs officials intercept $380k, suspect Macau money laundering activity


TAIPEI: Taiwan customs officials at Taipei’s international airport got a whiff of dirty laundry in the suitcases of two of its citizens returning home from Macau. Nope, it wasn’t underwear that hadn’t hit the laundromat: it was cold, hard cash. Taiwan customs money laundering TAIPEI: Funny money: customs agents in Taiwan suspected $400,000 in American dollars inside two mens’ luggage ... Read More »

Taiwan customs seized usd380k from duo leaving Macau


TAIPEI: Two men from Taiwan who won USD400,000 from Macau casinos lost USD380,000 of that when they were crossing the Taiwan border to enter Taipei city. According to a report by Apple Daily Taiwan, the two men, both in their 20s, took a flight from Macau to Taipei last Saturday. The Taipei customs authority found USD400,000 in cash in their ... Read More »

Taiwan PCB firms post revenue growth in June


TAIPEI: HDI PCB manufacturer Compeq Manufacturing, and flexible PCB specialists Zhen Ding Technology and Flexium Interconnect all enjoyed revenue growth in June, according to Digitimes. Compeq posted revenues of NT$3.89 billion ($127.2 million) in June 2017, up 27.8% on year and 10.8% sequentially. Zhen Ding and Flexium reported sequential increases in June revenues of 35.87% and 33.18%, respectively. Zhen Ding ... Read More »

Customs confiscate over 40,000 Chinese yuan from two men


TAIPEI: Customs officials at Taiwan Taoyuan International Airport confiscated more than 40,000 Chinese yuan (US$5,900) from two men trying to take the undeclared cash out of the country Sunday, the first such seizure since new anti-money laundering rules went into effect on June 28, officials said. A 47-year-old man surnamed Wang was found to be carrying 30,330 yuan before boarding ... Read More »

Customs seize fake pharmaceuticals from China


TAIPEI: Customs authorities recently confiscated a package of drugs from China containing two banned pharmaceutical products disguised as a Japanese brand of capsules for constipation, the Food and Drug Administration (FDA) said Wednesday. The medicine looks almost the same as the genuine product, but contains a combination of banned sibutramine and phenolphthalein, which are carcinogenic and could be fatal to ... Read More »

Man loses NT$100,000 for attempting to bring in cigarettes into Taiwan


TAIPEI: A man lost nearly NT$100,000 (US$3,291) after he was caught attempting to bring 54 cartons of cigarettes into Taiwan, Taipei Customs officers said Saturday. The man, 33, surnamed Chen, returned to Taiwan Taoyuan International Airport from Osaka and was found to have carried 54 cartons of Seven Stars cigarettes in his luggage. According to customs declaration regulations, each passenger ... Read More »

US plans to sell Taiwan about $1.42b in arms


TAIPEI: The United States plans to sell Taiwan $1.42 billion in arms, the first such sale under the administration of Donald Trump and a move sure to anger China, whose help the president has been seeking to rein in North Korea. US State Department spokeswoman Heather Nauert told reporters the administration had told Congress of the seven proposed sales on ... Read More »

Fallout continues over SA bank tax plan


TAIPEI: BankSA has put a plan to create 150 jobs on hold in response to South Australia’s new bank tax but Treasurer Tom Koutsantonis says he won’t walk away from the budget measure. As the fallout from the new levy gathers pace, BankSA chief executive Nick Reade has labelled the impost a disgrace. He says a plan to create a ... Read More »

Taiwan’s Pegatron expands smartphone capacity for 2H


TAIPEI: Key iPhone assembler Pegatron on Tuesday said it was gearing up for higher smartphone production in the second half of 2017, as it sees stronger demand than last year. “We are preparing and planning for more capacity this year than the past year,” Pegatron Vice Chairman Jason Cheng told reporters after the company’s annual general meeting, without mentioning Apple ... Read More »

Taiwan’s Hua Nan Bank debuts in Manila


TAIPEI: Hua Nan Commercial Bank Ltd. (HNCB) of Taiwan has debuted in the Philippines with the opening of a full branch in this fast-growing Southeast Asian economy on Wednesday. The Manila branch is the 14th overseas branch of the 98-year-old Taiwanese bank, a subsidiary of Hua Nan Financial Holdings Co. Ltd. which was the first company to list on Taiwan’s ... Read More »

Mulberry bags a rise in sales, profits


TAIPEI: Luxury brand Mulberry has fashioned a jump in sales and profits for the last year as shoppers were won over by new creative designer Johnny Coca’s handbags. Mulberry said that its updated and lightweight version of its classic Bayswater leather handbag had become an “instant bestseller”, which boosted sales by 8pc to £168.1m during the year to the end ... Read More »

Major Taiwan tech companies report 1.97% sales rise in May


TAIPEI: Sales of leading Taiwanese tech companies, a barometer of global electronic demand, rose slightly year-over-year in May. But revenue growth is still decelerating from previous months, as consumers rein in spending on premium handsets in anticipation of the iPhone 8 range expected to launch in September. In May, overall sales of the 19 tech companies monitored by Nikkei Asian ... Read More »

TSMC, Hon Hai account for 16% of Taiwan’s business tax revenue


TAIPEI: Contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) and contract electronics maker Hon Hai Precision Industry Co. (鴻海) accounted for about 16 percent of the business income tax revenue collected by the government in 2016, according to data obtained by CNA. The statistics show that TSMC, the world’s largest pure wafer foundry operator, paid more than NT$30 billion ... Read More »

Exports up in April on PH pivot to Asia


TAIPEI: External trade in April rose 4.6 percent year-on-year to $11.66 billion mainly on a double-digit jump in exports supported by closer economic ties with Asian countries such as China, India and the United Arab Emirates, the government reported yesterday. Manufacturing growth as measured by the Volume of Production Index, however, slowed last April to 5.9 percent from 10.1 percent ... Read More »

PCB maker Compeq posts revenue growth in May


TAIPEI: Taiwan-based PCB manufacturer Compeq Manufacturing has reported consolidated revenues of NT$3.52 billion ($116.6 million) for May, up by 1.7% sequentially and by 8.9% year-on-year, according to Digitimes. Compeq’s cumulative 2017 revenues through May totaled NT$18.19 billion, rising 16.1% from a year earlier. The company said previously that revenues will stay flat in the second quarter of 2017 before staging ... Read More »

Toshiba aims to name buyer of $18b chips business on June 15


TAIPEI: Toshiba Corp  aims to name a winner for its prized semiconductor business next week, people familiar with the matter said on Wednesday, as a row with one of the bidders over the sale appeared to escalate. Sources told Reuters the choice has narrowed to one bid from U.S. chipmaker Broadcom Ltd and U.S. tech fund Silver Lake and another ... Read More »

Smuggled cigarettes worth NT$20m seized in Kaohsiung


TAIPEI: Kaohsiung Customs officers on Tuesday seized a shipping container of smuggled cigarettes that were estimated to have a market value of about NT$20 million (US$676,000). The officers said that after checking the shipping list, they became suspicious of a container of goods being transshipped from Singapore and declared as polyethylene. They then ordered the goods unloaded from the container ... Read More »

Taiwan to levy duty on online purchases over NT$2,000


TAIPEI: Frequent online shoppers beware! Taiwan will roll out a new tax policy starting this September that will lower the tariff bar for imported goods shipped via oversea express delivery to NT$2,000 (US$66.37). At the moment imported products purchased online with a value below NT$3,000 are exempt from tariffs, but the government aims to lower tariff bar to NT$2,000 by ... Read More »

Taiwanese yields P250m worth of shabu


TAIPEI: uthorities arrested a Taiwanese man for smuggling into the country 50 kilos of “shabu” worth around P250 million which were found inside a hotel in Parañaque City on Saturday. A joint team from the Philippine Drug Enforcement Agency’s Regional Office 3 and the Philippine National Police’s Drug Enforcement Unit (DEU) caught Chen Teho Chang, 56, at the Red Planet ... Read More »