China Television Co (CTV, 中視) yesterday decided to appeal to the courts against the Securities and Futures' Investors Protection Cen-ter's provisional seizure of its two buildings over the Procomp Infor-matics Co (博達科技) scandal.
"Like all other investors, CTV is also a victim of Procomp Informatics' default," CTV vice president Chen Jiu (陳車) told a press conference at the Taiwan Stock Exchange.
CTV -- the majority of whose shares are held by the Chinese Nationalist Party (KMT)-owned Hua Hsia Investment Holding Co (華夏投資) -- saw its shares open limit down yesterday as investors weighed possible links to Procomp. The shares closed 7 percent lower at NT$10.6.
Chen said that CTV chairwoman Cheng Su-ming (鄭淑敏), who served on the Procomp supervisory board, committed no wrongdoing as an outside supervisor and therefore, CTV shouldn't be punished.
Chen urged the center to safeguard the rights of CTV's investors while seeking compensation for Procomp investors.
Accompanied by judges, center officials on Monday seized two CTV buildings worth NT$2 billion as part of their efforts to offset some of the NT$3.3 billion in claims filed by Procomp investors. The center filed a lawsuit against 19 members of Procomp's management, including Procomp chairwoman Sophia Yeh (葉素菲) and Cheng.
Although CTV has already used the two buildings as collateral for NT$1.6 billion in loans, center officials believe the buildings' remaining net worth of NT$400 million can offset some claims.
In addition to trying to get the seizure overturned, CTV will also seek a court order, requesting the center to open court trials in 20 days in order to minimize any negative impact the seizure might have on its short-term liquidity, Chen said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) would not produce its most advanced technologies in the US next year, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the comment during an appearance at the legislature, hours after the chipmaker announced that it would invest an additional US$100 billion to expand its manufacturing operations in the US. Asked by Taiwan People’s Party Legislator-at-large Chang Chi-kai (張啟楷) if TSMC would allow its most advanced technologies, the yet-to-be-released 2-nanometer and 1.6-nanometer processes, to go to the US in the near term, Kuo denied it. TSMC recently opened its first US factory, which produces 4-nanometer
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
REACTIONS: While most analysts were positive about TSMC’s investment, one said the US expansion could disrupt the company’s supply-demand balance Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) new US$100 billion investment in the US would exert a positive effect on the chipmaker’s revenue in the medium term on the back of booming artificial intelligence (AI) chip demand from US chip designers, an International Data Corp (IDC) analyst said yesterday. “This is good for TSMC in terms of business expansion, as its major clients for advanced chips are US chip designers,” IDC senior semiconductor research manager Galen Zeng (曾冠瑋) said by telephone yesterday. “Besides, those US companies all consider supply chain resilience a business imperative,” Zeng said. That meant local supply would
Servers that might contain artificial intelligence (AI)-powering Nvidia Corp chips shipped from the US to Singapore ended up in Malaysia, but their actual final destination remains a mystery, Singaporean Minister for Home Affairs and Law K Shanmugam said yesterday. The US is cracking down on exports of advanced semiconductors to China, seeking to retain a competitive edge over the technology. However, Bloomberg News reported in late January that US officials were probing whether Chinese AI firm DeepSeek (深度求索) bought advanced Nvidia semiconductors through third parties in Singapore, skirting Washington’s restrictions. Shanmugam said the route of the chips emerged in the course of an
RSS