Rebar (Taiwan)
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The Rebar Group (力霸集團) of Taiwan is a large corporation involved in domestic textiles, construction, hotel/real estate, retail services, vehicle/building insurance, banking, and media.
The company started out in the 1960s as a reinforcement bar manufacturer, hence its name.
The corporation recently gained large shares of the Taiwanese cable media as OmniMedia (東森) TV Corp and also mobile telephone business as Asia Pacific Telecom Group (亞太) in the late 1990s.
Towards the end of 2006 Rebar was encountering serious difficulties following years of allegedly hiding financial problems with bad loans from The Chinese Bank. The CEO and founder, Wang You-theng (王又曾) were alleged to have engaged in insider trading and embezzlement in connection to this, and fled Taiwan on 30 December 2006, days before prosecutors began their investigation. You-theng is currently detained in the US, and is wanted by Taiwanese prosecutors for allegedly embezzling NT$60 billion (US$1.8 billion) in corporate funds[1].
[edit] Corporate Branches
Some branches include:
- TV: OmniMedia (東森)
- Finance: Chinese Bank, Union Insurance
- Service: Rebar Realstate, Rebar Retail Chain, Rebar Hotel, Taipei Aquarium
- Manufacturing: Rebar Construction, Rebar Foods (esp. cooking oil)
- Telecommunications: Asia Pacific Telecom (亞太)
[edit] External links
- Corporate structure
- Rebar Corporate Website
- PRChinese-Taiwan.org's take on the Wang family (Simplified Chinese)
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