The Legislative Yuan approved an amendment to the Corporation Act (公司法) yesterday, obliging companies participating in the government’s bailout projects to propose plans to save themselves from going bankrupt.
The bill, proposed and endorsed by lawmakers across party lines, stipulates that corporations that are included in a bailout plan that will cost more than NT$1 billion (US$30 million) should report their reconstruction plans to the Legislative Yuan.
The amendment also includes a new “fat cat article” that authorizes the government to limit the compensation for company managers and board members.
The amendment also allows the companies receiving aid to issue new shares to the government in compensation for the government’s financial support.
Besides passing the amendment, legislators also reached a resolution banning companies from making investments overseas while they are included in the government’s bailout projects.
Meanwhile, the legislature failed to vote on an amendment to the Offshore Islands Development Act (離島建設條例) that would legalize casinos on Taiwan’s outlying islands.
An undersea cable to Penghu County has been severed, the Ministry of Digital Affairs said today, with a Chinese-funded ship suspected of being responsible. It comes just a month after a Chinese ship was suspected of severing an undersea cable north of Keelung Harbor. The National Communications and Cyber Security Center received a report at 3:03am today from Chunghwa Telecom that the No. 3 cable from Taiwan to Penghu was severed 14.7km off the coast of Tainan, the Ministry of Digital Affairs said. The Coast Guard Administration (CGA) upon receiving a report from Chunghwa Telecom began to monitor the Togolese-flagged Hong Tai (宏泰)
EVA Air is prohibiting the use of portable chargers on board all flights starting from Saturday, while China Airlines is advising passengers not to use them, following the lead of South Korean airlines. Current regulations prohibit portable chargers and lithium batteries from check-in luggage and require them to be properly packed in carry-on baggage, EVA Air said. To improve onboard safety, portable chargers and spare lithium batteries would be prohibited from use on all fights starting on Saturday, it said. Passengers are advised to fully charge electronic devices before boarding and use the AC and USB charging outlets at their seat, it said. South
Hong Kong-based American singer-songwriter Khalil Fong (方大同) has passed away at the age of 41, Fong’s record label confirmed yesterday. “With unwavering optimism in the face of a relentless illness for five years, Khalil Fong gently and gracefully bid farewell to this world on the morning of February 21, 2025, stepping into the next realm of existence to carry forward his purpose and dreams,” Fu Music wrote on the company’s official Facebook page. “The music and graphic novels he gifted to the world remain an eternal testament to his luminous spirit, a timeless treasure for generations to come,” it said. Although Fong’s
WAR SIMULATION: The developers of the board game ‘2045’ consulted experts and analysts, and made maps based on real-life Chinese People’s Liberation Army exercises To stop invading Chinese forces seizing Taiwan, board gamer Ruth Zhong chooses the nuclear option: Dropping an atomic bomb on Taipei to secure the nation’s freedom and her victory. The Taiwanese board game 2045 is a zero-sum contest of military strategy and individual self-interest that puts players on the front lines of a simulated Chinese attack. Their battlefield game tactics would determine the theoretical future of Taiwan, which in the real world faces the constant threat of a Chinese invasion. “The most interesting part of this game is that you have to make continuous decisions based on the evolving situation,
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