Next Digital Ltd (壹傳媒集團), which is owned by media tycoon Jimmy Lai (黎智英), said that the firm is not ceasing operations and apologized to staff for an earlier “wrong message,” an internal memo said.
On Wednesday, the listed Hong Kong company sent employees a memo saying that it was to cease operations on Thursday.
Next Digital is the publisher of the Apple Daily newspaper, which closed last week after Hong Kong authorities used the National Security Law to arrest top editors and executives.
“Regarding the e-mail dated on June 30 mentioning that the group would cease operations, the department hereby clarified that the group is not ceasing operations, but making personnel arrangements,” it wrote in a memo sent to staff late on Thursday night, adding that it would follow labor rules in terms of settling compensation and payroll issues.
“We also extend apologies for the wrong message,” the memo said.
A representative from Next Digital did not immediately respond to requests for comment.
In a stock exchange filing late on Wednesday, Next Digital said that it plans to sell the offices of Apple Daily in Taiwan to an undisclosed buyer.
On Tuesday, the company said it had accepted a non-binding proposal to sell Amazing Sino International, publisher of Apple Daily in Taiwan.
It did not name the buyer.
Next Digital shares have been suspended since June 17.
Under Hong Kong trading rules, the territory’s exchange operator can cancel a listing if a company goes into liquidation or if a firm’s business “is no longer suitable.”
ISSUES: Gogoro has been struggling with ballooning losses and was recently embroiled in alleged subsidy fraud, using Chinese-made components instead of locally made parts Gogoro Inc (睿能創意), the nation’s biggest electric scooter maker, yesterday said that its chairman and CEO Horace Luke (陸學森) has resigned amid chronic losses and probes into the company’s alleged involvement in subsidy fraud. The board of directors nominated Reuntex Group (潤泰集團) general counsel Tamon Tseng (曾夢達) as the company’s new chairman, Gogoro said in a statement. Ruentex is Gogoro’s biggest stakeholder. Gogoro Taiwan general manager Henry Chiang (姜家煒) is to serve as acting CEO during the interim period, the statement said. Luke’s departure came as a bombshell yesterday. As a company founder, he has played a key role in pushing for the
CROSS-STRAIT TENSIONS: The US company could switch orders from TSMC to alternative suppliers, but that would lower chip quality, CEO Jensen Huang said Nvidia Corp CEO Jensen Huang (黃仁勳), whose products have become the hottest commodity in the technology world, on Wednesday said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Huang’s company is experiencing strong demand for its latest generation of chips, called
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
GLOBAL ECONOMY: Policymakers have a choice of a small 25 basis-point cut or a bold cut of 50 basis points, which would help the labor market, but might reignite inflation The US Federal Reserve is gearing up to announce its first interest rate cut in more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the US presidential election. Senior officials at the US central bank including Fed Chairman Jerome Powell have in recent weeks indicated that a rate cut is coming this month, as inflation eases toward the bank’s long-term target of two percent, and the labor market continues to cool. The Fed, which has a dual mandate from the US Congress to act independently to ensure
RSS