Taishin Investment Trust Co (
"Business ties will eventually be separated," Wu said yesterday as he spoke to the media for the first time since a shareholding fight with his elder brother Thomas Wu (
Eric Wu is sure to take over control of Shinkong Synthetic Fibers Corp (
In return, Thomas Wu won full family support to be re-elected as chairman of the financial-service company earlier this month.
As part of the agreement, Taishin Financial is expected to release its 45 percent stake in Taishin Investment Trust, which was established in June, within the next three years.
Eric Wu said that he may buy back the stake if the price is right.
The remaining 55 percent stake is owned by several family-owned subsidiaries.
Eric Wu also said the trust company is working on two acquisition deals, one of which is slated to be closed by year's end, although he would not elaborate.
When asked if he is interested in forming a financial-services company, he gave a resounding "No."
But he said that he hasn't ruled out the possibility of merging with other, bigger financial holding companies such as Shinkong Financial Holding Co (
Eric Wu refused to say whether the family-run businesses have officially been split between the four brothers, though he did say that "the to-be-held family meeting will be part of an ongoing process."
Meanwhile, Taishin Investment Trust yesterday celebrated its success in sales of two fund products and boasted that its fund size is nearing NT$10 billion.
Company's president Charles Shen (
Taiwan’s long-term economic competitiveness will hinge not only on national champions like Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) but also on the widespread adoption of artificial intelligence (AI) and other emerging technologies, a US-based scholar has said. At a lecture in Taipei on Tuesday, Jeffrey Ding, assistant professor of political science at the George Washington University and author of "Technology and the Rise of Great Powers," argued that historical experience shows that general-purpose technologies (GPTs) — such as electricity, computers and now AI — shape long-term economic advantages through their diffusion across the broader economy. "What really matters is not who pioneers
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TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
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