Former minister-without-portfolio Joseph Lyu (
"With his financial expertise, Lyu is quite suited for the chairman's job," DPP caucus whip Ker Chien-ming (
Ker confirmed that Lyu is one of the DPP government's candidates for the post, but he refused to reveal names of other possible candidates.
After Lyu stepped down from his previous post as finance minister in 2006, rumor had it that he would take up an executive post at government-controlled Mega Financial, the nation's third-largest financial service provider by assets. But that never materialized and he quitted his minister-without-portfolio position shortly after.
Currently working as a university professor, Lyu, 52, also served as a board member at Mega Financial in 2004, chairman at the state-owned Bank of Taiwan (台銀), president at Land Bank of Taiwan (土銀) and vice president at the nation's top telecom operator Chunghwa Telecom Co (中華電信) before leaving his executive posts at Taipei-based foreign banks including KBC Bank, BNP Paribas and the Bank of New York Mellon.
Lyu, however, denied that he had been asked to replace Cheng on Monday when Cheng's sudden resignation was made public, his staff was quoted as saying.
Deputy Minister of Finance Liu Teng-cheng (
The board's remaining six seats are for representatives of the financial company's private shareholders, led by Cheng.
If no replacement is appointed by Jan. 15, when Cheng's resignation takes effect, Mega Financial president Mckinney Tsai (蔡友才) will step in and work as interim chairman, Liu said.
Tsai, who was appointed by the finance ministry, currently doubles as the chairman of subsidiary Mega International Commercial Bank (兆豐國際商銀).
Moreover, Tsai and former Mega Financial president Lin Tzong-yeong (林宗勇) were tapped as possible candidates for the chairman's position, local media reported yesterday.
Ker said yesterday that Cheng chose to step down because he felt he wasn't at the helm of Mega Financial as its chairman.
Local media, however, speculated Cheng's resignation had something to do with Cheng's relationship with the Evergreen Group founded by Cheng's father-in-law Chang Jung-fa (張榮發). The group is said to be distancing itself from the DPP administration.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Taiwan has enough crude oil reserves for more than 100 days and sufficient natural gas reserves for more than 11 days, both above the regulatory safety requirement, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday, adding that the government would prioritize domestic price stability as conflicts in the Middle East continue. Overall, energy supply for this month is secure, and the government is continuing efforts to ensure sufficient supply for next month, Kung told reporters after meeting with representatives from business groups at the ministry in Taipei. The ministry has been holding daily cross-ministry meetings at the Executive Yuan to ensure
RATIONING: The proposal would give the Trump administration ample leverage to negotiate investments in the US as it decides how many chips to give each country US officials are debating a new regulatory framework for exporting artificial intelligence (AI) chips and are considering requiring foreign nations to invest in US AI data centers or security guarantees as a condition for granting exports of 200,000 chips or more, according to a document seen by Reuters. The rules are not yet final and could change. They would be the first attempt to regulate the flow of AI chips to US allies and partners since US President Donald Trump’s administration said it rescinded its predecessor’s so-called AI diffusion rules. Those rules sought to keep a significant amount of AI
RSS