Despite concerns that a draft amendment to the Company Act (公司法) could undermine the rights of minority shareholders in listed companies, the Ministry of Economic Affairs’ (MOEA) commerce department yesterday downplayed such worries.
The legislature’s Economics Committee passed the amendment on Thursday, restricting minority shareholders from raising motions during annual general meetings if they own less than 1 percent of the shares in a company.
The draft amendment, along with several others, is scheduled for a third reading in the legislature on Friday. Once passed, they could become effective as early as next month.
The government said earlier that the amendment was aimed at maintaining order at listed companies’ annual general meetings, which are usually held this and next month and many often descend into chaotic scenes with minority shareholders deliberately tabling numerous motions to disrupt the meetings.
The department yesterday said that the amendment was not designed to damage the rights of minority shareholders and that it would include input from the government-run Securities and Futures Investors Protection Center.
“Minority shareholders can still raise motions as long as they collectively own more than a 1 percent share in the company,” the department said in a statement. “The department will discuss with the Financial Supervisory Commission in safeguarding the rights of minority shareholders.”
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS