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.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain Apple Inc’s primary chip manufacturing partner despite reports that Apple could shift some orders to Intel Corp, industry experts said yesterday. The comments came after The Wall Street Journal reported on Friday that Apple and Intel had reached a preliminary agreement following more than a year of negotiations for Intel to manufacture some chips for Apple devices. Taiwan Institute of Economic Research (台灣經濟研究院) economist Arisa Liu (劉佩真) said TSMC’s advanced packaging technologies, including integrated fan-out and chip-on-wafer-on-substrate, remain critical to the performance of Apple’s A-series and M-series chips. She said Intel and Samsung
POWER BUILDUP: Powered by Nvidia’s B200 Blackwell chips, the data center would support MediaTek’s computing power demand and business growth, the company said Smartphone chip designer MediaTek Inc (聯發科) yesterday launched a new artificial intelligence (AI) data center with a maximum capacity of 45 megawatts to meet its rising demand for computing power required to develop new advanced chips for AI applications. The company has completed the first-phase computing power buildup at the data center in Miaoli County’s Tongluo Township (銅鑼), providing 15 megawatts of capacity to support its research and development (R&D) capabilities, despite an industrywide shortage of key components, MediaTek said. Supply constraints have plagued a wide range of key components, including memory chips, solid-state drives, power supply units and central
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
RSS