Shihlin District Court yesterday agreed to release Sophie Yeh (葉素菲), former chairperson of Procomp Informatics Co (博達科技), on NT$80 million bail.
Yeh has been indicted for embezzling over NT$7 billion from Procomp. Last October, prosecutors recommended a sentence of 20 years imprisonment and a NT$500 million fine.
Yeh's detention order will expire on May 25 and she can be released if the district court cannot secure a conviction by that time.
In response, financial regulators said it is not appropriate for them to comment on judicial rulings.
"The prosecutors and the judges said they have collected enough evidence and are thus not worried that Yeh will collude with accomplices," Financial Supervisory Commission Vice Chairman Lu Daung-yen (呂東英) said yesterday.
It is not proper for them to comment further on the decision, Lu said.
Another beleagured executive, Hu Hung-chiu (
Hu was accused of stealing approximately NT$17.1 billion from 1993 to 1998 when he worked at Asia Pacific Wire and Cable Corp.
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
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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
FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six