The Agency Against Corruption asked state-owned Taiwan Power Co (Taipower, 台電) to provide more than NT$1 million (US$33,000) in funding for a running event, despite Taipower being under investigation over irregular procurements, a legislator alleged yesterday.
Taiwan Solidarity Union Legislator Huang Wen-ling (黃文玲) told reporters that the agency launched a probe in May into procurements relating to the construction of the Fourth Nuclear Power Plant in Gongliao District (貢寮), New Taipei City (新北市). Several Taipower officials were released on bail following a search of company offices.
Huang said the agency had planned to celebrate its first anniversary by hosting a running event on Saturday, but last week it postponed the event in light of a corruption scandal involving former Executive Yuan secretary-general Lin Yi-shih (林益世).
Huang said that although the event was postponed, she found the agency was still running event ads showing Taipower and Taiwan Tobacco & Liquor Co (台灣菸酒公司) were sponsors of the event.
According to expenditure documents for the event, the agency was expecting to spend NT$2.38 million, with the agency and the Ministry of Economic Affairs each paying half of the money, or about NT$1.19 million, Huang said.
Huang said the ministry had approved a plan by Taipower to provide the NT$1.19 million.
Huang asked how the target of an investigation could become a sponsor for the agency, adding that the agency could have decided to go easy in its probe of Taipower because of the relationship.
Agency Against Corruption Deputy Head Yang Shih-chin (楊石金) said yesterday that the agency had discussed hosting the running event with the ministry in January and agreed that each would cover half of the expenditure.
Yang said the agency only launched its probe against Taipower in May, adding that the agency was currently looking into two cases involving Taipower and that it would definitely not go easy on the company if wrongdoing were uncovered.
CHAOS: Iranians took to the streets playing celebratory music after reports of Khamenei’s death on Saturday, while mourners also gathered in Tehran yesterday Iranian Supreme Leader Ayatollah Ali Khamenei was killed in a major attack on Iran launched by Israel and the US, throwing the future of the Islamic republic into doubt and raising the risk of regional instability. Iranian state television and the state-run IRNA news agency announced the 86-year-old’s death early yesterday. US President Donald Trump said it gave Iranians their “greatest chance” to “take back” their country. The announcements came after a joint US and Israeli aerial bombardment that targeted Iranian military and governmental sites. Trump said the “heavy and pinpoint bombing” would continue through the week or as long
TRUST: The KMT said it respected the US’ timing and considerations, and hoped it would continue to honor its commitments to helping Taiwan bolster its defenses and deterrence US President Donald Trump is delaying a multibillion-dollar arms sale to Taiwan to ensure his visit to Beijing is successful, a New York Times report said. The weapons sales package has stalled in the US Department of State, the report said, citing US officials it did not identify. The White House has told agencies not to push forward ahead of Trump’s meeting with Chinese President Xi Jinping (習近平), it said. The two last month held a phone call to discuss trade and geopolitical flashpoints ahead of the summit. Xi raised the Taiwan issue and urged the US to handle arms sales to
BIG SPENDERS: Foreign investors bought the most Taiwan equities since 2005, signaling confidence that an AI boom would continue to benefit chipmakers Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) market capitalization swelled to US$2 trillion for the first time following a 4.25 percent rally in its American depositary receipts (ADR) overnight, putting the world’s biggest contract chipmaker sixth on the list of the world’s biggest companies by market capitalization, just behind Amazon.com Inc. The site CompaniesMarketcap.com ranked TSMC ahead of Saudi Aramco and Meta Platforms Inc. The Taiwanese company’s ADRs on Tuesday surged to US$385.75 on the New York Stock Exchange, as strong demand for artificial intelligence (AI) applications led to chip supply constraints and boost revenue growth to record-breaking levels. Each TSMC ADR represents
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it had confirmed on Saturday night with its liquefied natural gas (LNG) and crude oil suppliers that shipments are proceeding as scheduled and that domestic supplies remain unaffected. The CPC yesterday announced the gasoline and diesel prices will rise by NT$0.2 and NT$0.4 per liter, respectively, starting Monday, citing Middle East tensions and blizzards in the eastern United States. CPC also iterated it has been reducing the proportion of crude oil imports from the Middle East and diversifying its supply sources in the past few years in response to geopolitical risks, expanding