Reported about 1 year ago
Wu Dongjin, former chairman of Shin Kong Financial Holding and Shin Kong Life, was summoned for investigation on June 11, 2024. This development is concerning as it may affect the ongoing capital increase of NT$12.5 billion for Shin Kong Financial Holding. The investigation is related to alleged improper transactions, unclear fund usage, and construction payment issues concerning Shin Kong's New J.Perx Castle project. Market speculations suggest that Wu's situation, along with possible delays in the capital increase, could lead to increased volatility in Shin Kong Financial Holding's stock price, causing investor hesitation. This uncertainty may also result in further penalties from the Financial Supervisory Commission, exacerbating the situation for the company.
Source: YAHOO