Taishin Financial Holding Co (台新金控) will complete its merger with Taiwan Securities Corp (台証證券) and Taishin Bills Finance Corp (台新票券) on Jan. 1, 2003, with one Taishin Financial share exchanging for 1.2 Taiwan Securities shares and 1.3 Taishin Bills Finance shares, said Taishin Financial Chairman Thomas Wu (吳東亮) yesterday.
After the merger, Taishin Financial would have increased its assets to NT$42 billion from the current NT$30 billion. It will also have access to a network of 133 outlets nationwide, up from the current 88, Wu said.
Wu said the holding company might revise its 2002 financial forecast after the merger. Its earnings are expected to increase 30 percent year-on-year in 2003, he predicts.
Meanwhile, Wu stressed his determination to improve the Taishin International Bank's (台新銀行) asset quality. Taishin bank, a unit of Taishin Financial that wrote off about NT$10 billion in non-performing loans during the first four months this year, is expected to get rid of an additional NT$10 billion in bad loans by the end of the year, Wu said. Its overdue loan ratio would reach 2.5 percent at the end of this year versus 4.56 percent in April, he estimated.
NATIONAL SECURITY THREAT: An official said that Guan Guan’s comments had gone beyond the threshold of free speech, as she advocated for the destruction of the ROC China-born media influencer Guan Guan’s (關關) residency permit has been revoked for repeatedly posting pro-China content that threatens national security, the National Immigration Agency said yesterday. Guan Guan has said many controversial things in her videos posted to Douyin (抖音), including “the red flag will soon be painted all over Taiwan” and “Taiwan is an inseparable part of China,” while expressing hope for expedited “reunification.” The agency received multiple reports alleging that Guan Guan had advocated for armed reunification last year. After investigating, the agency last month issued a notice requiring her to appear and account for her actions. Guan Guan appeared as required,
A strong cold air mass is expected to arrive tonight, bringing a change in weather and a drop in temperature, the Central Weather Administration (CWA) said. The coldest time would be early on Thursday morning, with temperatures in some areas dipping as low as 8°C, it said. Daytime highs yesterday were 22°C to 24°C in northern and eastern Taiwan, and about 25°C to 28°C in the central and southern regions, it said. However, nighttime lows would dip to about 15°C to 16°C in central and northern Taiwan as well as the northeast, and 17°C to 19°C elsewhere, it said. Tropical Storm Nokaen, currently
PAPERS, PLEASE: The gang exploited the high value of the passports, selling them at inflated prices to Chinese buyers, who would treat them as ‘invisibility cloaks’ The Yilan District Court has handed four members of a syndicate prison terms ranging from one year and two months to two years and two months for their involvement in a scheme to purchase Taiwanese passports and resell them abroad at a massive markup. A Chinese human smuggling syndicate purchased Taiwanese passports through local criminal networks, exploiting the passports’ visa-free travel privileges to turn a profit of more than 20 times the original price, the court said. Such criminal organizations enable people to impersonate Taiwanese when entering and exiting Taiwan and other countries, undermining social order and the credibility of the nation’s
‘SALAMI-SLICING’: Beijing’s ‘gray zone’ tactics around the Pratas Islands have been slowly intensifying, with the PLA testing Taiwan’s responses and limits, an expert said The Ministry of National Defense yesterday condemned an intrusion by a Chinese drone into the airspace of the Pratas Islands (Dongsha Islands, 東沙群島) as a serious disruption of regional peace. The ministry said it detected the Chinese surveillance and reconnaissance drone entering the southwestern parts of Taiwan’s air defense identification zone early yesterday, and it approached the Pratas Islands at 5:41am. The ministry said it immediately notified the garrison stationed in the area to enhance aerial surveillance and alert levels, and the drone was detected in the islands’ territorial airspace at 5:44am, maintaining an altitude outside the effective range of air-defense weaponry. Following
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