Food safety is national security! He reveals Tai Shan's major shareholder behind the scenes is actually 'this kind of criminal' from China...

A food safety crisis has erupted in Taiwan after carcinogenic "benzopyrene" was detected in cooking oil produced by Zhonglian Grease, a company jointly invested in by major oil giants Tai Shan, Fwusow, and Fwumo. Eleven executives from these companies have been named as defendants in the ensuing investigation. The scandal has prompted calls to examine systemic loopholes and corporate governance, particularly concerning the backgrounds of major shareholders.

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This person, born in Guangdong, China, from the CCP's vanguard team, Hong Kong's big circle, Macau's murder and bank robbery, to illegally entering Taiwan, and obtaining a Taiwanese ID after re-education in Green Island, has been involved in numerous financial crimes in recent years. Is such a person suitable to be a major shareholder of a listed food company?

Lai Chung-chiang, convenor of the Taiwan Economic Democracy Union think tank, pointed to the case of Tai Shan, whose controlling stake was acquired in 2023 by Dragon Group chairman Chu Kuo-jung. Chu, who is currently a fugitive wanted for stock manipulation and insider trading, was sentenced to 8 and 16 years in prison respectively. Chu, born in Guangdong, China, has a history of alleged criminal activities, including involvement with organized crime and bank robberies before fleeing to Taiwan. Lai questions whether such an individual is fit to be a major shareholder in a listed food company.

Lai referenced a warning issued three years prior by former Tai Shan chairman Chan Ching-chao, who alleged that Dragon Group's intentions extended beyond Tai Shan to include manipulating the FamilyMart convenience store chain and taking over Zhonglian Grease. Chan argued that if Dragon Group gained control of Tai Shan, it could pose a national security risk, given Zhonglian Grease's role in supplying a significant portion of Taiwan's edible oil and military oil.

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Food safety is national security.

Echoing President Lai Ching-te's "Food safety is national security" slogan, Lai urged Premier Cho Jung-tai to convene key financial officials. He stressed the need for these officials to possess national security awareness when handling corporate mergers and acquisitions. Lai specifically called for them to learn from the 2023 case involving Chu Kuo-jung's acquisition of Tai Shan and Zhonglian Grease, urging a cautious approach to all future M&A deals with national security implications.

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Food safety is national security, financial officials must have national security awareness, and financial departments must also have national security awareness when handling corporate mergers and acquisitions. Please take the case of Chu Kuo-jung's entry into Tai Shan and Zhonglian Grease three years ago as a warning, and carefully handle all current and future corporate mergers and acquisitions involving national security.