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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

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Taiwan delays further water curbs after heavy rainfall

05/31/2021 | 01:12am EDT

TAIPEI, May 31 (Reuters) - Taiwan's government on Monday delayed imposing further water curbs that would have impacted major chip-making hubs after heavy rainfall began replenishing reservoirs on the drought-struck island.

Sub-tropical Taiwan is dealing with its worst drought in history after no typhoons directly hit the island last year, meaning much less rain.

Taiwan had planned on tightening curbs on the use of water from June 1 in the important chip making hubs of Hsinchu and Taichung, requiring companies in the two science parks to cut water consumption by 17%.

But after heavy rainfall over the weekend that is expected to last all week, heralding the start of what Taiwan calls the "plum rain" season, the government has postponed those plans, Economy Minister Wang Mei-hua said in a statement.

However, the ministry's Water Resources Agency said that from mid-June the outlook was drier, meaning the drought alert would stay and people should still be conserving water.

The world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , has factories in both Hsinchu and Taichung.

The company has said it has seen no impact on production from the drought and would continue to trim its water use and buy supplies from tanker trucks for some foundries.

Technology companies have long complained about tight water supplies, which became more acute after factories expanded production following a Sino-U.S. trade war.

The drought has also exacerbated problems with electricity management, leading to two major island-wide blackouts in less than a week. (Reporting by Ben Blanchard; Editing by Raju Gopalakrishnan)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MSCI TAIWAN (STRD) -0.74% 690.203 Real-time Quote.15.72%
TAIWAN SEMICONDUCTOR CO., LTD. 1.13% 80.3 End-of-day quote.29.10%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.51% 580 End-of-day quote.9.43%
UNITED MICROELECTRONICS CORPORATION 5.86% 57.8 End-of-day quote.22.59%
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Financials
Sales 2021 1 574 B 56 382 M 56 382 M
Net income 2021 581 B 20 824 M 20 824 M
Net cash 2021 270 B 9 687 M 9 687 M
P/E ratio 2021 25,9x
Yield 2021 1,90%
Capitalization 15 040 B 538 B 539 B
EV / Sales 2021 9,38x
EV / Sales 2022 8,12x
Nbr of Employees 48 752
Free-Float 93,6%
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Number of Analysts 31
Last Close Price 580,00 TWD
Average target price 740,80 TWD
Spread / Average Target 27,7%
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Managers and Directors
Che Chia Wei Vice Chairman & Chief Executive Officer
Wendell Huang Chief Financial Officer & Vice President
Te Yin Liu Chairman
Yung Ching Hou Vice President-Research & Development
J. K. Lin SVP-Information Technology & Materials Management
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