As expected, Taishin Financial Holding Co (
As of press time, Taishin Financial, the bank's largest shareholder, took eight seats on Chang Hwa's 15-seat board, while the second largest shareholder, the Ministry of Finance, got four seats. The lender's current chairman, Chang Po-shin (張伯欣), and his supporters secured two seats, and the last seat went to another major shareholder in Chen Chien-chih (
Up to 80.48 percent of Chang Hwa's 270,000 shareholders cast their ballots yesterday. The extraordinary shareholders meeting dragged on for over 12 hours before the election results became known.
Taishin Financial, the nation's eighth-largest financial group, outbid six competitors in July to buy a controlling 22.5-percent stake in the then state-owned Chang Hwa for NT$36.6 billion (US$1.09 billion), becoming the bank's largest shareholder.
The ministry holds an 18.8 percent stake in the bank, while Chang controls a negligible 0.05 percent stake.
The newly elected board directors will convene a board meeting Tuesday to select a new chairman, Chang Hwa spokesman Hsieh Chao-nan (
As for the next chairman, the biggest winner in yesterday's vote, Taishin Financial, would hold true to its word, the financial group's spokesperson Carol Lai (
As of September, the debt-ridden Chang Hwa had bad loans amounting to around NT$48 billion with a non-performing loan ratio of 5.4 percent in comparison with an average level of 2.8 percent. The lender will take revenue from share sales to write off its bad loans.
Chang Hwa and Taishin Financial shares yesterday remained unchanged at NT$15.45 and NT$17.3.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
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New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
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