Six indicted in MTK case
Six people, including a former MediaTek Inc executive, were yesterday indicted for insider trading linked to a plan by the integrated circuit designer to acquire smaller rival MStar Semiconductor Inc in 2012. Given that all six defendants have voluntarily surrendered their allegedly illicit gains, prosecutors are asking that they be given lenient sentences. Lu Hsiang-cheng (呂向正), former head of MediaTek’s China operations, is accused of buying 50,000 MStar shares before the merger plan was made public on June 22, 2012, according to the indictment issued by the Taipei District Prosecutors’ Office. Also indicted were four MStar employees and one of their family members. The five, who allegedly made between NT$10,000 and NT$5.41 million from similar transactions, were identified as secretary to the chairman Huang Yu-chi (黃郁琪) and her husband, Lee Chia-hsin (李家昕); senior marketing manager Jen Li-huan (任立寰); and engineers Lan Chi-han (藍祺漢) and Wang Ching-wen (王靖雯).
Cold front brings snow
Snow has blanketed some of the nation’s major peaks as a cold front combined with high moisture levels rolls across the country, the Central Weather Bureau said yesterday. Yushan (玉山), Hehuanshan (合歡山), Alishan (阿里山) and Taipingshan (太平山) received snow overnight. About 14cm of snow accumulated on Yushan between 8pm on Wednesday and 5am yesterday, the bureau said, adding that the peak also saw its lowest temperature this winter at minus-11.8oC. The cold front also saw 30cm of snow accumulate on Hehuanshan, marking the biggest snowfall on the peak since late last year, the bureau said. The chances of further snowfall may be reduced as moisture in the air decreases, forecasters said.
The Gambia repaying debt
The Gambia has continued repayment of outstanding loans extended by Taiwan since the two countries severed diplomatic ties in November, a Ministry of Foreign Affairs official said yesterday. The West African country has not defaulted on its debts, Department of West Asian and African Affairs Director-General David Wang (王建業) said in response to inquires at a press conference. The government formally broke relations with The Gambia on Nov. 18 last year, after the African country unilaterally announced that it was severing official ties with Taipei on Nov. 14. The Gambia owed about US$10 million in outstanding loans. It has made three payments totaling US$2.2 million, a ministry official said.
Farms planned for stadium
The Taipei City Government is turning parts of the Zhongshan Soccer Stadium into a leisure farm to promote urban microfarming and will encourage city residents to “adopt” potted vegetables and fruit that will be grown there beginning in April, program organizers said yesterday. The initiative, which has yet to be finalized, is aimed at encouraging residents to grow their own food to raise community and environmental awareness, the Taipei Expo Foundation said. The program will allow the public to grow a variety of plants across 4,000m2, the foundation said, adding that the selection ranges from strawberries and crown daisies to lettuce and tomatoes. The farm will invite 100 families for a vegetable-growing activity on Saturday. A registration form can be downloaded from the park’s Web site and e-mailed to email@example.com.