Contention continues over which sibling in the Wu family is the rightful chairman of Shinkong Synthetic Fibers Corp (
Self-proclaimed chairman of the polyester manufacturer Thomas Wu (
"A photo-shot retaken from footage of the company's surveillance camera cannot prove that the letter of assignment [to reshuffle the company's board] had arrived before its board meeting" on Aug. 6, said Ku Jao-nan (辜昭南), secretary to the company's board, which elected Thomas Wu to its chairmanship in early August.
"Elder Wu wishes that his younger brother had sat down with him and resolved the chairmanship dispute in private," Ku told a press conference yesterday afternoon.
Ku said that the elder Wu would decide whether further legal action will be taken against the commerce department's rule based on the letter's arrival.
The letter of assignment to reshuffle the company's board became crucial evidence in determining whether the board that elected Thomas Wu on Aug. 6 was legitimate.
If the letter of assignment arrived before the board meeting, the board's action to give Thomas Wu the chairmanship would be seriously flawed, since the to-be-reshuffled board shouldn't have exercised their electoral rights.
On Aug. 6, Thomas Wu ignored his mother Wu Kuei-lan's (
The elder Wu acted on his own and took office as the company's chairman after the old board elected him to be the chairman. Wu further refused to obey his mother's demand that her third son should yield the chairmanship to his younger brother.
After a closed-door meeting of eight legal professionals on Wednesday, the commerce department appeared to have confirmed the authenticity of the footage from the company's surveillance camera and ruled that the board should have been reshuffled and that no chairman elected by it was legitimate.
The commerce department further ruled that Eric Wu is the lawful chairman since he was later elected by the new board, which rejected Thomas Wu's application to become company chairman.
The footage, which was pre-sented to the commerce department by Eric Wu, showed that an envelope with the letter of assignment was rejected at the com-pany's door before the board meeting convened on Aug. 6.
Officials at the commerce department were unavailable for comment yesterday.
According to local media reports, Thomas Wu has vowed to take administrative action against his brother if the ministry denies his chairmanship.
But Ku said that no action will be taken until the ministry's decision arrives in a written form.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Taiwanese prosecutors suspect that three people successfully smuggled at least one shipment of Nvidia Corp artificial intelligence (AI) chips to China after first exporting them to Japan, people familiar with the matter said. The trio was detained last week by the Keelung District Prosecutors’ Office for allegedly falsifying documents related to exports of Super Micro Computer Inc servers containing advanced Nvidia chips, which the US has barred from sale to China without a license from Washington. The move marked Taiwan’s first public crackdown on AI chip diversion after years of pressure from the US to take a more active role in curtailing
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) employee bonuses are likely to grow more than 30 percent this year, in line with the past few years as the company’s profits continue to set new records, an anonymous source cited TSMC chairman C.C. Wei (魏哲家) as saying yesterday. TSMC, the world’s largest contract chipmaker, is committed to taking care of its workers, the source said, citing Wei’s meeting with employees yesterday morning. Wei also expressed gratitude to employees for their contribution to the company’s improving bottom line, the source added. Since 2023, TSMC’s employee bonuses have grown at an annual rate of
RSS