Scandal-ridden Eastern Multimedia Group (EMG, 東森媒體集團) yesterday said that operations were normal despite the unexpected detention of its chairman on Sunday night, while jittery creditor banks said they might tighten lending to the company to protect their rights and interests.
"After years of promoting corporate governance and a professional management team, Eastern Multimedia has a solid corporate system. Company operations are normal," the company said in a statement released yesterday.
Sales at the group's Eastern Home Shopping Network (東森得易購) exceeded NT$100 million (US$3 million) yesterday, the same level as usual, it said.
Gary Wang (王令麟), chairman and founder of Eastern Multimedia, was detained again late on Sunday after being released on bail a day earlier.
He is suspected of assisting his father Wang You-theng (
Meanwhile, Taiwan Cooperative Bank (
Hua Nan Commercial Bank (華南銀行) said it would sell the group's pledged properties if the company delayed payments over the next three months, the report said.
RSS