Taiwan

Intelligence for Better Decision Making

Hualien Earthquake Impact and Response
April 11, 2024 | Indirect Indicator

- There is a proposal to increase the insurable amount for basic residential earthquake insurance following a severe earthquake in Hualien.

- Legislators have called for an adjustment to the upper limit of current earthquake insurance coverage to reflect rising construction prices.

- The Financial Supervisory Commission has stated that any increase in insured amount would require comprehensive assessment and is seeking a viability study from the Earthquake Fund.

- Due to strict claim settlement rules, many people surrender their basic earthquake insurance policy after paying off their loans.

- The Financial Supervisory Commission is promoting commercial earthquake insurance for those with a need to transfer risk.

- The Commission is also aiming to boost the rate of basic residential earthquake insurance through publicity and discussion of measures.

- 472 policyholders' houses were damaged during the Hualien earthquake with 15 suffering total losses, leading to RMB 25.5 million in compensation claims.

- Fifteen property and casualty insurance companies insured the damaged houses with four overseeing total loss claims.

- Whether to increase the claim limit for earthquake insurance will require further discussion and assessment of factors such as overall losses, the need to transfer risk, and policyholder affordability.

- Commercial insurance can currently be used to cover any amount exceeding the basic insured amount of 1.5 million yuan.

- Following the Hualien earthquake, Mingtai Property & Casualty Insurance Company provided insurance payouts of 200,000 yuan to displaced households.

Hualien earthquake impacts and consequences
April 10, 2024 | Indirect Indicator

- A 7.2 magnitude earthquake hit Hualien causing 13 deaths and significant damage.

- The Taiwan Machine Tool and Components Industry Association and its member manufacturers are donating funds to disaster relief with estimates of the total donation exceeding NT$10 million.

- Paper industry companies Zhenglong and Yongfengyu have donated NT$20 million and NT$10 million respectively for disaster relief efforts.

- The Machine Tool Association has implemented immediate action post-earthquake, urging its members to involve themselves in disaster relief operations and providing fundraising information.

- The association is offering machine maintenance and equipment calibration services to help members deal with earthquake aftermath.

- The Taichung City Government is providing subsidy resources to aid small and medium-sized enterprises in the central region.

- Machine Tool Association member manufacturers have independently initiated machine maintenance and equipment calibration service announcements.

- Zhenglong has committed to donate NT$20 million to an official account for Hualien earthquake relief efforts.

- Yongfengyu and its subsidiary Yuantai Technology are jointly contributing 10 million yuan to disaster relief and reconstruction work.

- The unit of the private Heping Power Plant was disrupted due to the Hualien earthquake, with repairs initially expected to complete by the 8th.

- Taipower is aiming to restore power by the 13th with continued aftershocks impacting the restoration time frame.

- Several school buildings, including the Hualien Girls' High School complex, were severely damaged and require reconstruction.

- Other universities and schools had to switch to online classes due to the damage caused.

Monitored Intelligence for Taiwan - Jan. 25, 2024


News
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813

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54

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3
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0
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Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.

The goal is to provide intelligence that allows decision makers to avoid being blindsided by what they may have missed, while informing them to make better decisions as well.

Risk Categories Reported on Today

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Erudite Risk also includes operations categories so you can monitor the environment for better decision making. Everything is tied together--what happens in risk affects operations and what happens in the market impacts risk profiles.

We categorize key intelligence into one of 30 different operations intelligence categories.

Different roles and functions within the organization can monitor different key issue areas. HR may monitor employment, wages, regulations, labor and management relations, etc., while P&L leaders may monitor overall developing trends.

Operations Categories Reported on Today

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Two bodies retrieved, three more found on Shakadang Trail one week post-quake

Focus Taiwan | English | News | April 12, 2024 | Natural Disasters

Two bodies have been retrieved and three more have been found on the Shakadang Trail one week after an earthquake devastated Hualien County. Meanwhile, a Singaporean couple remains missing in the area. The earthquake resulted in 16 deaths and left three people missing, with numerous landslides and significant damage to agricultural products and infrastructure. President Tsai Ing-wen visited the Central Emergency Operation Center and thanked search and rescue personnel for their efforts on the frontline, commending Taiwan's unity and strength. The Taiwan Foundation for Disaster Relief has raised nearly NT$500 million to be used for disaster relief and recovery efforts.

半導體產業鏈前進日本!家登首座海外廠選定日本久留米 明年量產

The semiconductor industry chain moves forward in Japan! Jiadeng's first overseas factory selects Kurume, Japan for mass production next year

United Daily News | Local Language | News | April 12, 2024 | Supply Chain Issues

Qiu Mingqian, chairman of Semiconductor transmission and storage equipment manufacturer Deng, announced that Deng's first overseas factory besides Taiwan and China has decided to locate in Kurume, Japan. The new factory is scheduled to be built this year and will cover an area of nearly 3,000 square meters, with plans for mass production next year. The decision to establish the factory in Japan is due to geopolitical risks, favorable investment conditions, and deep connections with the local community. The Kurume factory will initially focus on product production and be based on cost center considerations, with the overall production focus still in Taiwan. The article also discusses considerations related to setting up factories in the United States and Germany.

TSMC beats out projections, posts record Q1 sales

Taipei Times | English | News | April 12, 2024 | Operating Results

TSMC reported record sales of NT$592.64 billion in the first quarter, beating analysts' projections of NT$579.5 billion and the company's previous estimate of between NT$559.80 billion and NT$584.68 billion. The company attributes their success to robust demand for high-end chips used in emerging technologies, such as high-performance computing devices, which helped offset the weakness in the global smartphone market. TSMC is budgeting capital expenditure of US$28 billion to US$32 billion and expects revenue to grow 21 percent to 26 percent annually in US dollar terms this year.

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