Newly appointed EasyCard Corp chairman Sean Lien (連勝文) attended the Taipei City Council for the first time yesterday after assuming the position earlier this month and was met with challenges from pan-green city councilors who questioned his ability to make the firm profitable.
Democratic Progressive Party (DPP) Taipei City councilors reiterated doubts about Lien’s ability to lead the company and criticized the company for failing to turn a profit since its creation in 2000.
“EasyCard Corp is a monopoly and even an idiot could run the company and still make it a highly profitable business. But the company remains deeply indebted,” DPP Taipei City Councilor Lee Chien-chang (李建昌) said yesterday during a question-and-answer session at the Taipei City Council.
PHOTO: CHANG CHIA-MING, TAIPEI TIMES
The company was set up in 2000 with capital of NT$500 million (US$15.7 million). While circulation of the EasyCard exceeds 14 million, the company registered a deficit of NT$55 million.
DPP Taipei City Councilor Hsu Shu-hua (�?�) joined Lee in criticizing the company for its poor investment choices, which have added to the debt.
Lien, son of former KMT chairman Lien Chan (連戰), said the company had made NT$90 million last year thanks to the investments. Although the company continued to be in the red, the debt was expected to be cleared sometime next year, he said.
Sean Lien said that the money passengers put into their MRT Easy Cards was put into a trust fund and would not be affected by the company’s financial situation.
Taipei Mayor Hau Lung-bin (郝龍斌) yesterday defended his choice of Sean Lien as company chairman and expressed confidence that he would turn the company into a profitable business soon.
Sean Lien told councilors he would only take half of his monthly salary of about NT$300,000 until the company became profitable.
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