The abrupt ouster of the chairman of the board at Minjian Investment Ltd Co (民間投資) on Thursday is widely seen as a tactic to take over control of Formosa TV (民視) in the upcoming vote for board chair at the network, sources within Formosa TV said.
Minjian Investment has a seat on the Formosa TV board of directors and owns a 49.7 percent stake in the network, meaning that whoever it supports in the election would likely become its chair.
Minjian’s board sacked Kuo Pei-hung (郭倍宏) as chairman after a vote of no confidence to a motion proposed by board member Huang Ming-chan (黃明展), but Kuo remains chairman at Formosa TV.
Photo: Pan Sha-tang, Taipei Times
Kuo received board approval to take out a NT$500 million (US$16.19 million) loan from Taishin International Bank using company shares as collateral, Huang said.
The board was not told what the loan would be used for and Kuo claimed that in its final decision, the board had approved getting a loan of an indeterminate amount from an unspecified bank, Huang said.
Kuo on Thursday also proposed to replace the accountant, the sources.
A motion by Huang to have the court appoint someone to audit Minjian Investment’s account is being considered, Huang said.
Kuo showed attendees at the board meeting the bank book to reassure them that the money was in the account, the sources said.
The account is in the company’s name, Huang said, but added that Kuo has access to both the seal and the bank book.
“What company would allow the chairman to have access to the seal and the bank book?” Huang said, adding that Kuo’s access allows him to move funds at will.
Kuo and Minjian Investment chief executive officer Wang Ming-yu (王明玉) could not be reached for comment on Friday.
The Formosa TV sources said that Wang supported Huang’s no-confidence motion because Kuo was rumored to want a professional manager to run the company and to replace Wang with his special assistant.
‘VIRUS DIPLOMACY’: The nation’s expertise in handling COVID-19 was among the reasons that it should not be excluded from the WHO, the European Parliament said The European Parliament this week passed resolutions that support Taiwan’s bid to participate in the WHO and its intention to negotiate a trade pact with Taiwan. During its plenary session from Monday to Thursday, the parliament approved resolutions on the foreign policy consequences of the COVID-19 outbreak and the EU’s trade policy, parts of which were viewed as friendly toward Taiwan by the Ministry of Foreign Affairs. In a statement yesterday, the ministry welcomed the passage of the resolutions and thanked the parliament for its support for Taiwan. In the first resolution, the parliament cited Beijing’s increasing threats to Taiwan, the crackdown on
The gig began with a nun chanting on stage, but suddenly erupted into a wall of noise unleashed by distorted guitars and screamed sutras — the unique sound of Taiwan’s first Buddhist death metal band. The nation has a vibrant metal scene, but few outfits are quite as eye-catching as Dharma (達摩樂隊), a band that aims to deliver enlightenment via the medium of throaty eight-string guitars and guttural roars. Dressed in robes — black, of course — they use traditional Sanskrit sutras as lyrics, but everything else screams death metal, from bloody face paint on stage to growled vocals, relentless riffs and
LOOPHOLES: The people behind biased media content produced by a Chinese network, likely without sending staff to Taiwan, remain anonymous, a source said Beijing’s latest attempt at psychological warfare through heavily biased online media is aimed at sowing discord and polarizing Taiwanese society, the Mainland Affairs Council (MAC) said. The council’s comment came in response to Chinese network Southeast Television, which late last month began broadcasting an online program featuring commentary by Taiwanese unification supporters that authorities suspect was filmed illegally in Taiwan. To circumvent cross-strait regulations, the broadcaster collaborated with online service provider Baidu to air the series titles Diverse Voices From the Taiwan Strait (台海百家說). Only Taiwanese are shown on camera, without revealing the host, interviewer or production team. In one video, political commentator and
A petition has been launched calling for harsher drunk driving penalties in South Korea after a Taiwanese doctoral student was killed by an inebriated driver earlier this month in Seoul. On the evening of Nov. 6, 28-year-old theology student Tseng Yi-lin (曾以琳) was walking home from her professor’s house — crossing the road at a green pedestrian light — when she was hit by a drunk driver. South Korean authorities told Tseng’s parents that the driver would receive a lighter punishment “because the accident happened while the perpetrator was drunk,” the petition said. In response, friends of Tseng on Monday initiated a petition