The Malaysian Investment Development Authority (MIDA) is on track to achieve its RM70 billion target for digital-related investments in line with the Malaysia Digital Blueprint’s (MyDIGITAL) strategies. With robust strategies in place to ensure that digital-related investments remain competitive in the country, the Digital Investment Office (DIO), a collaborative platform between MIDA and the Malaysia Digital Economy Corporation (MDEC), has successfully facilitated a total of RM66.47 billion investments as of September 2022, which is over 99% of the target under the MyDIGITAL initiative.
FSC fines three firms NT$4.5 million each for alleged stock manipulation
By Kao Shih-ching / Staff reporter
The Financial Supervisory Commission (FSC) yesterday fined three asset management firms NT$4.5 million (US$159,909) each for last year buying shares in a company at the direction of a Ministry of Labor official while conducting discretionary trading for the nation’s labor funds.
Fuh Hwa Securities Investment Trust Co (復華投信), Capital Investment Trust Corp (群益投信) and Uni-President Assets Management Corp (統一投信) accepted requests from Yu Nai-wen (游迺文), former head of the Domestic Investment Division of the Bureau of Labor Funds, to purchase Far Eastern Department Store Ltd (遠東百貨) shares, the commission said.
Asset managers detained in labor fund bribery case
EXPANDED INVESTIGATION: The Taipei District Prosecutors’ Office has conducted raids on the residences of two suspects; five suspects have been detained in the case
Staff writer, with CNA
The Taipei District Court on Friday ordered that PJ Asset Management CEO Daniel Tarng (唐楚烈) and three others be detained with restricted communication as part of a growing investigation into the alleged bribery of a Ministry of Labor funds manager in a stock manipulation scheme.
The court approved a request by the Taipei District Prosecutors’ Office to detain Tarng and PJ Asset Management executive Chiu Yu-yuan (邱裕元), as well as Fuh Hwa Securities Investment Trust Co chief investment officer John Chiu (邱明強) and Fuh Hwa asset manager Marco Liu (劉建賢), for suspected breaches of the Securities and Exchange Act (證券交易法).