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Submarine-building program raises suspicions of fraud


A Republic of China Navy submarine is moored at the Zuoying naval base in Kaohsiung’s Zuoying District as a warship stands in the background during a visit by President Tsai Ing-wen on March 21 last year.
Photo: Chang Chung-i, Taipei Times

The indigenous submarine program has all the signs of becoming another multibillion-dollar scandal tarnished by graft and shady deals, with shadowy figures establishing shell companies to procure the contracts, including some who were involved in the Lafayette frigate scandal of the 1990s, insiders said yesterday.

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Ministry downplays presence of US ship


US research vessel Thomas G. Thompson is pictured at the Port of Kaohsiung yesterday.
Photo: CNA

The Ministry of National Defense yesterday downplayed the presence of a US Navy ship in Kaohsiung, saying it is a research vessel and urged people to stop speculating about its mission or how it relates to US policy.

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Newsflash


Financial Supervisory Commission Chairman Wellington Koo, left, answers questions from lawmakers on the Finance Committee at the Legislative Yuan in Taipei yesterday.
Photo: CNA

There is no guarantee that Hua Nan Commercial Bank (華南銀行) will be able to avoid being fined by US regulators for the failure of its New York branch to comply with US regulations on money laundering, Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) said yesterday.