The New Power Party (NPP) yesterday accused the Investment Commission of negligence for allegedly not investigating whether a firm that controls the logistics services of Taiwan’s two main science parks is funded by Chinese investors.
The party held a news conference after former NPP legislator Huang Kuo-chang (黃國昌) last week said that China Airlines’ sale of a stake in Science Park Logistics in 2017 had given Kerry TJ Logistics Co the opportunity to seize ownership of the company in 2018.
Huang said that Kerry TJ was funded by Chinese investors after it announced an equity transaction with China’s SF Holding Co in February.
Photo copied by Wu Shu-wei, Taipei Times
At a news conference yesterday also attended by representatives from the state-owned Taiwan Sugar Corp and the Investment Commission, NPP caucus whip Chiu Hsien-chih (邱顯智) said that Science Park Logistics was established in 1998, and owned by China Airlines and Taiwan Sugar, with each holding a 50 percent stake.
By 2017, Taiwan Sugar and China Airlines each had a 26 percent stake, but the airline sold its stake to HCT Logistics, he said.
HCT Logistics in 2018 sold its 55 percent stake in Science Park Logistics to Kerry TJ, he added.
“Many people are concerned about Kerry TJ’s funding from China, as the firm in February announced an equity transaction with SF Holding Co, which is based in Shenzhen, China,” Chiu said.
NPP Chairwoman Chen Jiau-hua (陳椒華) said that the party received a tip-off that President Tsai Ing-wen’s (蔡英文) national policy adviser Chin Chia-hung (秦嘉鴻) had met with senior management from China Airlines and Taiwan Sugar at the headquarters of the Democratic Progressive Party ahead of the 2017 sale.
Taiwan Sugar did not exercise its right of first refusal when it learned that China Airlines was selling its stake, Chen said.
Chen questioned the lack of any minutes of the meeting and why Taiwan Sugar informed the State-Owned Enterprise Commission about it in an unofficial document.
Investment Commission Vice Executive Secretary Lu Cheng-hui (呂貞惠) said that Kerry TJ reported its equity transaction in February.
In April and May, the commission investigated the firm’s structure, Lu said, adding that it has yet to find any substantial evidence of funding from China.
“As the transaction is not complete yet, we have reminded the firm that it needs to disclose information of any Chinese shareholders voluntarily. We could also launch an investigation into the deal without having to wait for it to complete,” Lu said.
Taiwan Sugar vice president Ku Hsiao-jou (顧孝柔) said that the company decided not to buy China Airlines’ stake in Science Park Logistics in 2017 following a market analysis.
“We consulted the Southern Science Park Administration, which told us that Science Park Logistics does not have to be more than 50 percent owned by state-owned corporations,” she said.
Kerry TJ has denied being funded by Chinese investors.
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