Two military officers and Remotek Corp executives were among nine people charged with corruption involving the Ministry of National Defense’s procurement of biological reconnaissance vehicles, the Taipei District Prosecutors’ Office said yesterday.
Prosecutors in October last year carried out searches and detained several people for questioning.
The case stemmed from the ministry’s procurement in 2015 of 13 biological reconnaissance vehicles for a reported NT$940 million (US$33.16 million at the current exchange rate-), which the New Taipei City-based Remotek won with a bid of NT$750 million.
In yesterday’s filing, prosecutors said that the suspects were charged with breaches of the Anti-Corruption Act (貪污治罪條例) and
EQUITIES
<strong>TAIEX rallies despite war</strong>
The TAIEX yesterday made a significant technical comeback after heavy losses last week triggered by Russia’s invasion of Ukraine. Bargain hunters could be found across the board, with the electronics sector which had been hard hit in focus. Buying also rotated to raw material stocks on the back of rising product prices, as well as shipping stocks due to hopes of high cash dividends, dealers said. However, the TAIEX failed to reach 18,000 during the session, as high technical hurdles remained above that level, the dealers added. The TAIEX closed up 246.07 points, or 1.39
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