Companies listed on the Taiwan Stock Exchange (TWSE) with paid-in capital of more than NT$15 billion (US$498.1 million) would need to publish informational materials in Chinese and English from July 1, TWSE spokeswoman Rebecca Chen (陳麗卿) told the Taipei Times by telephone yesterday.
Listed companies with paid-in capital of NT$10 billion to NT$15 billion and firms that are more than 30 percent held by foreign investors would be required to publish informational materials in both languages from next year, Chen said.
Companies with paid-in capital of NT$2 billion to NT$10 billion would be required from 2022, she added.
From 2024, all companies listed on the TWSE would need to comply with the dual language requirement, as the nation’s main bourse endeavors to build a bilingual environment for investors, she said.
The new regulations resulted from yesterday’s amendments to the Procedures for Verification and Disclosure of Material Information of Companies with Listed Securities (對有價證券上市公司重大訊息之查證暨公開處理程序).
The exchange categorized listed companies into four groups based on the size of their capitalization or percentage of foreign shareholders, Chen said.
“Some large companies have taken charge in providing informational materials in Chinese and English to investors,” she said.
The number of companies listed on the TWSE reached 937 at the end November last year, with foreign investors holding on average 42 percent of a company’s shares, Chen said.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
Taiwan is to start producing geothermal energy on a commercial scale for the first time in nearly 30 years tomorrow, when an Yilan County facility begins operations. The 4.2 megawatt Cingshuei Geothermal Power Plant in Datong Township (大同) — the first privately built geothermal power plant in Taiwan — was granted commercial license by the Bureau of Energy on Oct. 27, county authorities told the Central News Agency on Tuesday. Lin Kun-wei (林坤緯), a section head at the Yilan Business and Tourism Department, said that the facility would generate up to 3,150 kilowatts per hour, which could meet the demand of up
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased