Home appliance supplier and green energy solution provider eyes profit in near future, likely with plans for real property rejuvenation | 2021-12-14 15:00:00
Tatung Co (大同) chairman Lu Ming-kuang (盧明光) and president Chaney Ho (何春盛) yesterday announced their resignations, adding further uncertainty at the troubled conglomerate which has undergone several changes to its management team since last year.
When he took the job late last year, 72-year-old Lu had envisioned implementing a five-year plan to turn the company around before retiring again. Yesterday, he said he was proud of what he had achieved since returning to the company.
“I’ve not done wrong by the largest shareholder, the employees or the investors who came in because they believed in my management team,” Lu told a
Tatung chairman expects to report profit this year taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Although the number of mergers and acquisitions (M&As) last year fell, the overall value surged 47 percent from a year earlier, propelled by US-China trade tensions, technological innovations and a realignment of the electronics supply chain, an annual report by PricewaterhouseCoopers (PwC) Taiwan said yesterday.
“The M&A market took a hit from the COVID-19 pandemic last year, but may regain dynamism this year, helped by sustained monetary easing by global central banks and expectations of an economic recovery from the pandemic,” Lu Ming-kuang (盧明光), chairman of the Taiwan Mergers & Acquisitions and Private Equity Council (台灣併購與私募協會), said in the report.
Taiwanese firms,