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.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”