A government unit that manages public shareholding has formulated regulations to cap monthly salaries for heads of government-owned or partially state-funded financial institutions at NT$320,000.
The cap was calculated by doubling the monthly salary of NT$160,000 received by Susan Chang (張秀蓮), chairwoman of the government-owned Taiwan Financial Holding Co, the nation’s largest financial services provider.
The Executive Yuan’s Government Shareholding Management and Supervisory Unit passed the regulations on Wednesday after it was revealed that Taiwan Asset Management Corp (Tamco) chairman Chen Song-chu (陳松柱), allegedly lined his own pockets with company profits.
Chen was paid NT$400,000 a month, with an additional NT$150,000 in monthly public relations fees, far more than the NT$180,000 received by Minister of Finance Lee Sush-der (李述德), local media reports said.
The Tamco chairman reportedly distributed about NT$80 million (US$2.5 million) in corporate profits to 59 senior executives, including NT$20 million for himself and NT$10 million for a former company president.
The new regulations will apply to the chairmen and presidents of 108 government-owned or partially state-funded enterprises who are appointed or recommended for the position by the Ministry of Finance.
According to the regulations, those who are appointed or recommended by the ministry to serve as chairmen or presidents cannot receive a monthly salary that is more than double that of their counterparts in other state-run companies of about the same size, the same level and in the same field.
Salaries in excess of that will be taken into the national coffers or recouped by the companies, the regulations said.
Total variable income, such as performance rewards and other bonuses, for company heads should not exceed the total fixed income, the new regulations said.
In addition, there will be a cap of NT$200,000 on total performance bonuses, they said.
Meanwhile, the Cabinet yesterday approved an affordable housing project near the Taiwan Taoyuan International Airport MRT system’s Linkou (林口) station in Taipei County, with the price expected to be as low as NT$150,000 (US$4,695) per ping, an official said yesterday.
Lin Tsyr-ling (林慈玲), a deputy minister with the Ministry of the Interior, said the government might build more affordable housing on the outskirts of Taipei if the project is a success.
Construction is expected to be completed by 2013 to coincide with the opening of the MRT line. Under the proposal, the government will purchase 226.78 hectares of land from private land owners to build 4,000 units of affordable housing in the area where elementary and junior high schools and industry zones will be built.
Lin said the affordable houses would be restricted to certain income levels.
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
China’s military buildup in the southern portion of the first island chain poses a serious threat to Taiwan’s liquefied natural gas (LNG) supply, a defense analyst warned. Writing in a bulletin on the National Defense and Security Research’s Web site on Thursday, Huang Tsung-ting (黃宗鼎) said that China might choke off Taiwan’s energy supply without it. Beginning last year, China entrenched its position in the southern region of the first island chain, often with Russia’s active support, he said. In May of the same year, a Chinese People’s Liberation Army Navy (PLAN) force consisting of a Type 054A destroyer, Type 055 destroyer,
Actor Darren Wang (王大陸) was questioned by prosecutors for allegedly orchestrating an attack on a taxi driver after he was allegedly driven on a longer than necessary route in a car he disliked. The questioning at the New Taipei City District Prosecutors’ Office was ongoing as of press time last night. Police have recommended charges of attempted murder. The legally embattled actor — known for his role in the coming-of-age film Our Times (我的少女時代) — is under a separate investigation for allegedly using fake medical documents to evade mandatory military service. According to local media reports, police said Wang earlier last year ordered a
POLICY UNCHANGED? Despite Trump’s remarks, US Secretary of State Marco Rubio assured that US policy toward Taiwan has remained consistent since the 1970s US President Donald Trump on Wednesday again refused to make clear his stance on protecting Taiwan from a hypothetical takeover by China during his presidency. Asked by a reporter during a Cabinet meeting whether it was his policy that China would never take Taiwan by force while he is president, Trump declined to give a definitive answer. “I never comment on that,” he said. “I don’t comment on it because I don’t want to ever put myself in that position.” Trump also reiterated that he has a “great relationship” with Chinese President Xi Jinping (習近平) and said that Washington welcomes good relations with
RSS