Eastern Multimedia Group (東森多媒體) chairman Gary Wang (王令麟) yesterday repaid NT$150 million (US$4.58 million) to Chung Hwa Bank (彰化銀行) and other banks as the first installment of the promissory note he signed as a guarantor for insolvent Chia Hsin Food and Synthetic Fiber Co (嘉新食品化纖).
Complying with an agreement reached earlier with the creditor banks, Wang will still be required to repay another NT$250 million by the end of this year, and the remaining NT$600 million over the next three years.
Wang is responsible for his personal endorsement of a syndicated loan of NT$1.4 billion to Chia Hsin. He had reached agreement with creditor banks in amortizing the NT$1 billion-promissory note which he had signed to guarantee the NT$1.4 billion loan.
Overall, he will have to repay a total of NT$6.3 billion for which he acts as a guarantor on bank loans to both Chia Hsin and China Rebar Co (中國力霸).
Wang yesterday reassured the public that he would fully cooperate with the government's probe over the scandal involving Rebar Asia Pacific Group (力霸亞太企業集團).
In a statement released yesterday, Wang said that the Eastern Multimedia Group and Rebar Group are two independent companies and have no abnormal financial dealings.
To facilitate the investigation, Wang handed financial data of Eastern Media International Corp (東森國際) and Eastern Broadcasting Co (東森電視) for the past 10 years to the prosecutors for inspection on Monday, the statement said.
Wang said his properties -- which have not changed since 1990 -- can be examined as well. His NT$3 billion-investment in Asia Pacific Broadband Telecom Co (
Meanwhile, Chia Hsin said in a filing to the Taiwan Stock Exchange yesterday that seven of its checks, for a total value of NT$1.29 million, had bounced.
Since Chia Hsin's insolvency protection was approved, it had bounced checks for a total of NT$5.42 million as of yesterday.
China Rebar also said yesterday that its 210 checks for NT$101.6 million had
bounced yesterday, adding the value of bounced checks to NT$376 million.
CHIP HANG-UP: Surging memorychip prices would deal a blow to smartphone sales this year, potentially hindering one of MediaTek’s biggest sources of revenue MediaTek Inc (聯發科), the world’s biggest smartphone chip designer, yesterday said its new artificial intelligence (AI) chips used in data centers are to account for 20 percent of its total revenue next year, as cloud service providers race to deploy AI infrastructure to meet voracious demand. MediaTek is believed to be developing tensor processing units for Google, which are used in AI applications. While it did not confirm such reports, MediaTek said its new application-specific IC (ASIC) business would be a new growth engine for the company. It again hiked its forecast for the addressable ASIC market to US$70 billion by 2028, compared
MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it plans to double investment in data center-related technologies, including advanced packaging and high-speed interconnect technologies, to broaden the new business’ customer and service portfolios. The chip designer is redirecting its resources to data centers, mainly designing application-specific integrated circuits (ASIC) with artificial intelligence (AI) capabilities for cloud service providers. The data center business is forecast to lead growth in the next three years and become the company’s second-biggest revenue source, replacing chips used in smart devices, MediaTek president Joe Chen (陳冠州) told a media event in Taipei. “Three or four years
Until US President Donald Trump’s return a year ago, when the EU talked about cutting economic dependency on foreign powers — it was understood to mean China, but now Brussels has US tech in its sights. As Trump ramps up his threats — from strong-arming Europe on trade to pushing to seize Greenland — concern has grown that the unpredictable leader could, should he so wish, plunge the bloc into digital darkness. Since Trump’s Greenland climbdown, top officials have stepped up warnings that the EU is dangerously exposed to geopolitical shocks and must work toward strategic independence — in defense, energy and
Motorists ride past a mural along a street in Varanasi, India, yesterday.
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