James Huang, the head of the government's New Southbound policy, has admitted he met with the CEO of Ching Fu Shipbuilding last year.
First Commercial Bank has filed a criminal lawsuit against Ching Fu Shipbuilding last month for breach of contract. The company was under contract to build minehunters for Taiwan's navy. Ching Fu is reported to be on the brink of bankruptcy and incapable of paying the NT$3.1 billion (US$102 million) interest on its debt.
Ching Fu CEO Chen Ching-nan recently testified that he discussed the company's lack of funding with James Huang at a meeting in September 2016. Later in December, the defense ministry granted Ching Fu a third-stage fund of NT$2.4 billion (US$80 million) ahead of schedule.
Huang rejected claims that he made contact with the defense ministry after the conversation with Chen to facilitate the funding.
Huang said, For most of that conversation, we talked about working with Indonesia in shipbuilding. He mentioned [Ching Fu's difficulty in funding] at the end, and I thought he was just complaining. It was a normal meet-up. If I made any contact with the military, I would take full administrative, judicial and political responsibility.
Presidential Office spokesperson Sidney Lin said Thursday that Huang and the Presidential Office have nothing to do with the case.
Source: Radio Taiwan International
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