The Taiwan Stock Exchange (TWSE) yesterday denied D-Link Corp’s (友訊科技) allegations of applying a double standard after imposing a fine of NT$300,000 (US$9,990) on the firm for delaying a regular shareholders’ meeting.
The company breached the Company Act (公司法) and the fine was levied according to lawful procedures, the TWSE said.
D-Link on Monday postponed its shareholders’ meeting from June 15 to June 29 because of a growing conflict within the company’s management.
D-Link infringed on shareholders’ rights as the company’s late announcement did not allow shareholders sufficient time and information to respond, the TWSE said.
Article 165 of the act states that entries in the list of shareholders shall not be altered in the 30 days prior to the convening date of a regular shareholders’ meeting.
The TWSE told D-Link that the firm would face more fines if it fails to improve.
The exchange also issued an ultimatum, threatening to place the company’s shares in the altered-trading-method category.
A former leading manufacturer of network equipment, D-Link has found itself in a management crisis.
After posting losses in recent years except for 2018, D-Link is facing a hostile takeover by Taiwan Steel Group (台鋼), which holds 12 percent of its shares.
In addition to internal support from former board members and company executives seeking to turn D-Link around, Taiwan Steel has been granted a power of attorney by shareholders in its bid for control of the company.
D-Link’s shares yesterday closed down 1.2 percent at NT$12.3 in Taipei trading.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy