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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

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Taiwan lifts toughest water curbs as rain eases drought

06/05/2021 | 09:23pm EDT

TAIPEI, June 6 (Reuters) - Taiwan on Sunday lifted its toughest water restrictions for three parts of the island that had seen supplies cut for two days a week after heavy rain helped ease a biting drought.

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

In April, water supplies in parts of Taichung, Changhua and Miaoli began being limited, with no water for two days every week and tankers sent to supply residents.

But Economy Minister Wang Mei-hua said those controls would now end after more than a week of heavy rain, helped by a tropical storm brushing Taiwan over the weekend.

However, she said the drought was not over and the government would be considering how further to address the island's water shortages.

The drought had threatened to affect Hsinchu, home of the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC) .

The company has said, though, that 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 William Mallard)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MSCI TAIWAN (STRD) -0.43% 698.8 Real-time Quote.16.29%
TAIWAN SEMICONDUCTOR CO., LTD. -1.29% 84.5 End-of-day quote.35.85%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.85% 580 End-of-day quote.9.43%
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Financials
Sales 2021 1 574 B 56 148 M 56 148 M
Net income 2021 580 B 20 694 M 20 694 M
Net cash 2021 261 B 9 318 M 9 318 M
P/E ratio 2021 25,9x
Yield 2021 1,91%
Capitalization 15 040 B 536 B 536 B
EV / Sales 2021 9,39x
EV / Sales 2022 8,12x
Nbr of Employees 48 752
Free-Float 93,6%
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Mean consensus BUY
Number of Analysts 30
Last Close Price 580,00 TWD
Average target price 737,89 TWD
Spread / Average Target 27,2%
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Managers and Directors
Che Chia Wei Vice Chairman & Chief Executive Officer
Li Mei Ho Senior Vice President-Europe & Asia Sales
Jen Chao Huang Chief Financial Officer
Renzhao Huang Chief Financial Officer
Te Yin Liu Chairman
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