The abrupt ouster of the chairman of the board at Minjian Investment Ltd Co (民間投資) on Thursday is widely seen as a tactic to take over control of Formosa TV (民視) in the upcoming vote for board chair at the network, sources within Formosa TV said.
Minjian Investment has a seat on the Formosa TV board of directors and owns a 49.7 percent stake in the network, meaning that whoever it supports in the election would likely become its chair.
Minjian’s board sacked Kuo Pei-hung (郭倍宏) as chairman after a vote of no confidence to a motion proposed by board member Huang Ming-chan (黃明展), but Kuo remains chairman at Formosa TV.
Photo: Pan Sha-tang, Taipei Times
Kuo received board approval to take out a NT$500 million (US$16.19 million) loan from Taishin International Bank using company shares as collateral, Huang said.
The board was not told what the loan would be used for and Kuo claimed that in its final decision, the board had approved getting a loan of an indeterminate amount from an unspecified bank, Huang said.
Kuo on Thursday also proposed to replace the accountant, the sources.
A motion by Huang to have the court appoint someone to audit Minjian Investment’s account is being considered, Huang said.
Kuo showed attendees at the board meeting the bank book to reassure them that the money was in the account, the sources said.
The account is in the company’s name, Huang said, but added that Kuo has access to both the seal and the bank book.
“What company would allow the chairman to have access to the seal and the bank book?” Huang said, adding that Kuo’s access allows him to move funds at will.
Kuo and Minjian Investment chief executive officer Wang Ming-yu (王明玉) could not be reached for comment on Friday.
The Formosa TV sources said that Wang supported Huang’s no-confidence motion because Kuo was rumored to want a professional manager to run the company and to replace Wang with his special assistant.
FUKUOKA SITUATION: Japanese media reported that the pathogen is expected to be identified by the summer, while the CDC downplayed the idea that it was hMPV A “mysterious cold-like illness” reported in Japan’s Fukuoka Prefecture does not seem to be a new disease, but Japanese authorities have been asked about the situation, the Centers for Disease Control (CDC) said yesterday. The Fukuoka Prefectural Medical Association on Wednesday told a news conference that a “mystery cold” that has become a hot topic on social media is “highly likely to be caused by some kind of viral infection,” Japan’s KBC News reported. “Many people are experiencing symptoms starting with a sore throat, followed by a runny nose, phlegm and a severe cough,” KBC News reported, citing association officials. Health authorities are
Nvidia Corp CEO Jensen Huang (黃仁勳) arrived in Taiwan yesterday ahead of upcoming AI and technology events, saying he plans to meet with clients and Taiwan Semiconductor Manufacturing Co Chairman C.C. Wei (魏哲家) during his visit. After landing at Taipei Songshan Airport, Huang posed for photos with fans and handed out Yakult drinks to reporters and supporters waiting at the scene, saying he has “a lot to do” during the trip. Asked about reports that Nvidia’s planned headquarters site in Taipei’s Beitou Shilin Technology Park could break ground on May 27, Huang said that if the company holds an event, he would
Carrefour Taiwan is to begin using a new name from the start of July, but it cannot divulge the name until then, the chairman of the supermarket chain's parent company said today. President Chain Store Co chairman Lo Chih-hsien (羅智先) was asked by reporters after a shareholders' meeting to confirm whether the company has settled on a new name for the supermarket brand. In March, the government-registered name of two Carrefour Taiwan branches was quietly changed to "Le Chia Kang" (樂家康) in Chinese, raising speculation that has been selected as the name. Lo said that because of local regulations and contractual obligations, the
The Philippines would likely be involved in any conflict over Taiwan due to its proximity to the democracy claimed by China, President Ferdinand Marcos Jr said, reiterating a stance that risks angering Beijing. “In the Philippines, we do not have a choice because Taiwan is so close to the Philippines and we have almost 200,000 Filipino nationals living and working in Taiwan,” Marcos said in an interview with Japanese media in Manila on Monday. The Philippine leader’s comments come ahead of a state visit to Japan next week, where he is to meet with Japanese Prime Minister Sanae Takaichi to discuss security
RSS