Pan-green Taipei City councilors yesterday filed a lawsuit against Chinese Nationalist Party (KMT) presidential candidate Ma Ying-jeou (
Independent Taipei City Councilor Chien Yu-yen (
Chien alleged that Ma helped Taipei Fubon Bank amass more than NT$100 billion (US$3.2 billion) in illegal profits when it approved the merger of the privately owned Fubon Bank (
She said when the two banks were merged, the new entity acquired Taipei Bank's 44 branches, including land and property, based on their original value dating back to the 1960s and 1970s.
She said Ma might have violated the law because he did not order a reassessment of the value of Taipei Bank's real estate before selling it to the new bank.
She added that Taipei Bank's profit-generating capability was 2.75 times that of Fubon Bank, but the share swap ratio was set at a low 1.42 shares of Fubon Bank for each share of Taipei Bank.
Chien also alleged that on Nov. 30, 2006, Ma ordered the city government to deposit all of the city treasury's assets in Taipei Fubon Bank without holding a public bid.
She said the city council rejected a city government proposal to deposit the city's assets in Taipei Fubon Bank in July 2005, and the council thought Ma would hold a public tender to decide which bank would take the city's assets.
By ordering the treasury to put the funds in Taipei Fubon Bank, Ma might have violated the Government Procurement Law and illegally benefited the bank, she said.
Taiwan yesterday condemned the recent increase in Chinese coast guard-escorted fishing vessels operating illegally in waters around the Pratas Islands (Dongsha Islands, 東沙群島) in the South China Sea. Unusually large groupings of Chinese fishing vessels began to appear around the islands on Feb. 15, when at least six motherships and 29 smaller boats were sighted, the Coast Guard Administration (CGA) said in a news release. While CGA vessels were dispatched to expel the Chinese boats, Chinese coast guard ships trespassed into Taiwan’s restricted waters and unsuccessfully attempted to interfere, the CGA said. Due to the provocation, the CGA initiated an operation to increase
CHANGING LANDSCAPE: Many of the part-time programs for educators were no longer needed, as many teachers obtain a graduate degree before joining the workforce, experts said Taiwanese universities this year canceled 86 programs, Ministry of Education data showed, with educators attributing the closures to the nation’s low birthrate as well as shifting trends. Fifty-three of the shuttered programs were part-time postgraduate degree programs, about 62 percent of the total, the most in the past five years, the data showed. National Taiwan Normal University (NTNU) discontinued the most part-time master’s programs, at 16: chemistry, life science, earth science, physics, fine arts, music, special education, health promotion and health education, educational psychology and counseling, education, design, Chinese as a second language, library and information sciences, mechatronics engineering, history, physical education
The Chinese military has boosted its capability to fight at a high tempo using the element of surprise and new technology, the Ministry of National Defense said in the Quadrennial Defense Review (QDR) published on Monday last week. The ministry highlighted Chinese People’s Liberation Army (PLA) developments showing significant changes in Beijing’s strategy for war on Taiwan. The PLA has made significant headway in building capabilities for all-weather, multi-domain intelligence, surveillance, operational control and a joint air-sea blockade against Taiwan’s lines of communication, it said. The PLA has also improved its capabilities in direct amphibious assault operations aimed at seizing strategically important beaches,
‘MALIGN PURPOSE’: Governments around the world conduct espionage operations, but China’s is different, as its ultimate goal is annexation, a think tank head said Taiwan is facing a growing existential threat from its own people spying for China, experts said, as the government seeks to toughen measures to stop Beijing’s infiltration efforts and deter Taiwanese turncoats. While Beijing and Taipei have been spying on each other for years, experts said that espionage posed a bigger threat to Taiwan due to the risk of a Chinese attack. Taiwan’s intelligence agency said China used “diverse channels and tactics” to infiltrate the nation’s military, government agencies and pro-China organizations. The main targets were retired and active members of the military, persuaded by money, blackmail or pro-China ideology to steal
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