Applications for Tsinghua deals not yet filed: MOEA


CNA

TAIPEI–The Ministry of Economic Affairs (MOEA) has yet to receive applications for deals proposed by China-based Tsinghua Unigroup (紫光集團) to buy stakes in three Taiwanese integrated circuit packaging and testing firms, said Vice Economics Minister Shen Jong-chin (沈榮津) Wednesday.

Taiwan has opened its doors to Chinese investment in the integrated circuit packaging and testing sector, but applications must be submitted to the ministry to obtain approval, he said.

On the sidelines of a public hearing on a trade-in-goods pact with China, Shen said that the ministry has not received any applications related to Tsinghua Unigroup’s proposed acquisition deals.

The three Taiwanese companies are expected to file an application with the ministry after the companies’ boards of directors give the nod to the Chinese investment proposals, he said.

After the applications are received, the ministry will form a task force to take a closer look to determine whether Tsinghua Unigroup will take a controlling stake in each of the three Taiwanese IC packaging and testing firms through the proposed acquisitions, Shen said.

He added that the ministry will also look at whether the proposed acquisitions will pose a negative impact on Taiwan’s IC industry, including the outflow of talent and influence on local employment.