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The nation’s listed companies posted pretax profits of NT$1.26 trillion (US$42.7 billion) last quarter, up 26.6 percent year-on-year and the highest first-quarter performance in the past decade, data released by the Financial Supervisory Commission showed. The overall pretax profits of all 946 firms listed on the Taiwan Stock Exchange (TWSE) grew 27.31 percent year-on-year to NT$1.14 trillion in the first quarter, also the best performance in 10 years, commission data showed. The main growth momentum came from the shipping sector, which benefited from high freight rates amid ongoing port congestion worldwide, as well as robust demand for semiconductors and electronic components, which ....
Financially troubled Taiwan Land Development Corp’s New Paradiso shopping mall is pictured in Hualien County’s Jian Township yesterday. The mall yesterday temporarily closed to the public as the company overhauls its business strategy, but a Starbucks cafe made from shipping containers is to remain open. ....
The Taiwan Stock Exchange (TWSE) has changed the classification of Taiwan Land Development Corp (TLDC, 台灣土地開發) shares to “full-delivery stock,” since checks from the company began to bounce and its management team became embroiled in controversy. On Monday and Tuesday, the company had a total of NT$199 million (US$7.15 million) in bounced checks due to insufficient funds, the stock exchange said in a statement on Tuesday. A certified accountant has said in a report that there is considerable uncertainty about whether the company can continue operations, the TWSE said. The company on Jan. 26 said that chairwoman Chiu Yu-yun (邱于芸) had been dismissed ....
The High Court on Wednesday sentenced Chao Chien-ming (趙建銘), the son-in-law of former president Chen Shui-bian (陳水扁), to 46 months in jail for perjury and insider trading. The jail term is the combination of a sentence for perjury and insider trading, of which Chao was found guilty in August 2011 and October respectively. An interlocutory appeal can be filed to challenge the combined sentence, which Chao started serving last year. The perjury charge was a result of Chao cooperating with former first lady Wu Shu-jen (吳淑珍), who was found guilty of using fraudulent receipts to obtain reimbursements for spending from the state affairs ....