Construction of the Taipei Performing Arts Center, which was already running behind schedule, came to a halt yesterday, after contractor International Engineering and Construction Co on Thursday unexpectedly filed for bankruptcy.
Company president Yi Chih-fan (衣治凡) on Thursday sent a letter to his employees, complaining about the construction and “unexpectedly high level of technicality” and restrictions the government imposes on public infrastructure, saying that these, compounded by the company’s financial problems, are the reasons behind its failure to complete the construction.
The NT$5.4 billion (US$169.8 million) construction in Shilin District (士林), one of the largest infrastructure projects in Taipei, was scheduled for completion next month.
Taipei Mayor Ko Wen-je (柯文哲) last year told the Taipei City Council, amid criticism of the project’s delay, that if officials overseeing the project botched it, he would “strangle every last one of them.”
Democratic Progressive Party (DPP) Taipei City Councilor Wang Wei-chung (王威中) told a news conference in Taipei that, based on his investigation, the construction firm knew it would go bankrupt, as it had accumulated a debt of more than NT$2 billion in recent years.
The company had been dishonest about its finances and undertook the project to secure a NT$760 million down payment from the Taipei City Government to ease its financial difficulties, Wang said.
The firm’s shareholding structure had undergone several major changes since 2014 and is now solely owned by Yi, which means the city might not be able to reclaim the down payment and levy fines for the construction delay if Yi has transferred his assets elsewhere, he said.
The company should not have been selected as the contractor, because it had concealed a syndicated loan of NT$540 million that it took from seven banks in 2011, he said.
As of last year, the firm owed the project’s subcontractors up to NT$80 million for building materials, prompting the subcontractors to pull workers from the construction site and causing the construction to fall seriously behind schedule, he said.
Wang drew a parallel between the arts center and the beleaguered Taipei Dome project, saying that he had advised Ko to suspend the contract between the city and the contractor, but that city officials who oversee the project, including former Department of Rapid Transit Systems (DORTS) commissioner Chou Li-liang (周禮良) and former Department of Culture commissioner Ni Chung-hwa (倪重華), had endorsed the firm and covered up the real cause of the delays.
New Party Taipei City Councilor Chen Yen-po (陳彥伯) asked Ko during a council meeting if the building could be completed before his term ends in 2018.
Ko said the city government would endeavor to finish the construction before his term expires.
The top priority is to resume construction work as soon as possible, Ko said, adding that a new time frame for the project would be proposed.
DORTS chief secretary Wang Wei (王偉) said the city is working on a plan to deal with the situation, and that it would deliberate whether to seize the company’s assets.
Considering that most countries issue more than five denominations of banknotes, the central bank has decided to redesign all five denominations, the bank said as it prepares for the first major overhaul of the banknotes in more than 24 years. Central bank Governor Yang Chin-lung (楊金龍) is expected to report to the Legislative Yuan today on the bank’s operations and the redesign’s progress. The bank in a report sent to the legislature ahead of today’s meeting said it had commissioned a survey on the public’s preferences. Survey results showed that NT$100 and NT$1,000 banknotes are the most commonly used, while NT$200 and NT$2,000
A NT$39 receipt for two bottles of tea at a FamilyMart was among the NT$10 million (US $312,969) special prize winners in the January-February uniform invoice lottery. FamilyMart said that two NT$10 million-winning receipts were issued at its stores, as well as two NT$2 million grand prizes and three NT$200,000 first prizes. The two NT$10 million receipts were issued at stores in Pingtung County and Yilan County’s Dongshan Township (冬山). One winner spent just NT$39 on two bottles of tea, while another spent NT$80 on water, tea and coffee, the company said. Meanwhile, 7-Eleven reported three NT$10 million winners — in New Taipei
The Centers for Disease Control (CDC) yesterday reported the first case of a new COVID-19 subvariant — BA.3.2 — in a 10-year-old Singaporean girl who had a fever upon arrival in Taiwan and tested positive for the disease. The girl left Taiwan on March 20 and the case did not have a direct impact on the local community, it said. The WHO added the BA.3.2 strain to its list of Variants Under Monitoring in December last year, but this was the first imported case of the COVID-19 variant in Taiwan, CDC Deputy Director-General Lin Ming-cheng (林明誠) said. The girl arrived in Taiwan on
ANNUAL EVENT: Two massive Pokemon balloons are to be set up in Daan Park, with an event zone operating from 10am to 6pm This year’s Taipei Floral Picnic is to be held at Daan Park today and tomorrow, featuring an exclusive Pokemon Go event, a themed food market, a coffee rave picnic area and stage performances, the Taipei Department of Information and Tourism said yesterday. Two massive Pokemon balloons are to be set up in the park as attractions, with an exclusive event zone operating from 10am to 6pm, it said. Participants who complete designated tasks on-site would have a chance to receive limited-edition souvenirs, it added. People could also try the newly launched game Pokemon Pokopia in the trial area, the department said. Three PokeStops are
RSS