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Chung-Hsin Electric and Machinery Manufacturing Corp (CHEM, 中興電工) chairman Chiang Yi-fu (江義福) was yesterday sentenced to six years in prison for fraud in connection to procurement contracts for the domestically developed CM-32 Clouded Leopard armored vehicle. The Taichung District Court ruled that Chiang and other executives at the firm had breached the Securities and Exchange Act (證券交易法) and that the firm had made about NT$2.1 billion (US$75.2 million) in illicit profit from the procurement deal. CHEM general manager Kuo Hui-chuan (郭慧娟) was sentenced to a suspend...

2021/03/10 15:59 2007 prototype of 105-mm cannon mounted on Cloud Leopard armored vehicle (center). (MND photo) 2007 prototype of 105-mm cannon mounted on Cloud Leopard armored vehicle (center). (MND photo) TAIPEI (Taiwan News) — As part of its efforts to revamp the military and strengthen joint battalion combat capabilities, the Ministry of National Defense (MND) is developing a new combat vehicle armed with a 105-millimeter cannon. According to the MND's latest project report, the prototype will be completed this year, while testing wi...