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Winston Wang (王文洋), the eldest son of Wang Yung-ching (王永慶), has been rumored to return to Formosa Plastics Group and bring back Grace Fabric of the Grace T.H.W. Group to Taiwan for IPO. Observers are saying that even if Winston Wang doesn’t personally return to Formosa Plastics Group, he is still actively planning to expand his presence in Taiwan. Winston Wang, CEO of Grace T.H.W. Group , said, “Products of Grace T.H.W. Group are made in China and are the best products there is in the world.” Winston Wang is very proud of the company he founded, particularly the fact that he didn’t take a penny from his father’s Formosa Plastics Group. He relied on his own business senses and opened factory plants in Shanghai and Guangzhou. With a strong base in Mainland China, Winston Wang is planning to establish a presence in Taiwan. People are not surprised by this move. Winston Wang said, “We are Taiwanese who grew up in Taiwan. We all love Taiwan. We are willing to manufacture anything in Taiwan, but the government is not letting us do so.” A sense of discontent was evident in his tone. But with the government loosening up on the qualification for Taiwanese businesses in Mainland China to come back to Taiwan, Grace T.H.W. Group is also getting ready to return. It was already interested in returning to Taiwan for IPO last June. It wasn’t until the passing of Wang Yung-ching in October, Winston Wang made big changes in his plans to return by finding a new securities company to assist in bringing back Shanghai Grace Fabric to Taiwan for IPO. There are still related legal issues to clear up, so which securities company will be in charge is yet to be decided. Winston Wang’s many moves indicated his determination to mark his presence in Taiwan. But his timing couldn’t be more sensitive. With the passing of Wang Yung-ching, it seemed that Winston Wang wants to show everyone that even without his father, he can still have a foothold in Taiwan. |
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Chen Tain-jy, “We hope that the vouchers can be distributed before the Chinese New Year, as for the expiration date, the Executive Yuan have passed the draft that the expiration date will be September 30th, 2009. We estimate that the vouchers will all be distributed by March or April. How will foreign spouses receive their vouchers and which date should be considered as the legitimate household registration date, the public will need to be patient and wait until next Monday, the Executive Yuan will hold meetings to discuss on the details of the consumer vouchers, the answer will soon be revealed. |
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CEPD Chairman Chen Tain-jy said, “The vouchers can be used at shops without official registrations, however, after the usage, the shop cannot convert it into cash, and it has to be spent like other vouchers. What the teenagers were concerned about is resolved—vouchers can now be used at KTV and hotels. After the discussions in the Presidential Office and the Executive Yuan, the consumer vouchers’ case is confirmed and the numbers of shops have increased, however, consumers should forget about reselling the vouchers. Chen Tain-jy said, “you can’t purchase or resell the vouchers and it can’t be converted into stored cards or exchanged it into shopping coupons. We will implement rule to enforce it.” If you want to look attractive, the answer is that you can use the vouchers on beauty treatments. But you can’t use it in hospitals. Chen Tain-jy said, “As the National Medical Insurance covers most of the medical expenses, it’s paid for you. As hospitals have no right to operate as business, therefore you can’t you it there.” When will the general public receive the consumer vouchers to help stimulate the economy, it was rumored that it will be distributed before January 19th, the time to issue these vouchers is now set more conservatively. |
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The Executive Yuan has passed the consumer voucher bill on Thursday; in the future the vouchers can be used in shops or vendors without official registrations. However the vouchers are prohibited to be purchased or sold. The CEPD said they will set out the rule of usage, the expiration date is shortened to September 30th, 2009, in order to focus on stimulating the economic growth. |
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