Amid the frenzy surrounding the Rebar Asia Pacific Group (
From 1997 to last November, local lenders wrote off a total of NT$375 billion (US$11.4 billion) in loan defaults by 1,471 account holders, with each account owing at least NT$100 million to the banks, lawmakers said, citing figures provided by the Financial Supervisory Commission (FSC) in a closed-door meeting hosted by the Finance Committee of the Legislative Yuan.
The statistics also showed that the number of individuals whose loan default exceeded NT$2 billion total 220, accounting for more than NT$80 billion, or 21 percent, of total bad debts written off.
The Finance Committee called the meeting yesterday, requiring the Financial Supervisory Commission to report on banks' handling of the top 100 defaulters in the past decade.
FSC Chairman Shih Jun-ji (
The FSC report also showed that Chang Hwa Bank (彰化銀行) had the highest number of branches that had written off individual bad debts exceeding NT$2 billion. The bank wrote off a total of NT$21.12 billion in loan defaults by 54 account owners in seven branches, People First Party Legislator Christina Liu (劉憶如) said.
Mega International Commercial Bank (
On the largest amount of bad debts at a single branch, Taishin International Bank (台新銀行) placed first with more than NT$9 billion of bad loans owed by 36 accounts, followed by Taichung Commercial Bank's (台中銀行) NT$7.5 billion held by eight accounts and the Central Trust of China's (中央信託局) NT$6 billion owed by 28 accounts.
The unusually high amount of loan defaults at a single branch could be an indication of "unlawful lending to affiliates," Chinese Nationalist Party (KMT) Legislator Chiu Yi (
However, the names of the bad-debt owners were all encrypted in code by the commission in yesterday's meeting, which aroused the ire of the lawmakers.
"This does not help in cracking down on embezzlement," Democratic Progressive Party Legislator Tang Bi-a (
The Cabinet and the legislature are seeking to amend Article 48 of the Banking Act (
Liu recommended that the semi-official Joint Credit Information Center (聯合徵信中心), which compiles individual credit records, be charged with the task of disclosing information on heavy bad debtors.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
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