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The Rebar Group (Rebar; ) is a large corporation involved in domestic textiles, construction, hotel/real estate, retail services, vehicle/building insurance, banking, and media in Fugitive Wang You-tseng reportedly killed in car accident in U.S.
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Rebar Corporate Website
(Simplified Chinese) Companies based in Taipei {{Taiwan-company-stub
The Rebar Group (Rebar; ) is a large corporation involved in domestic textiles, construction, hotel/real estate, retail services, vehicle/building insurance, banking, and media in Taiwan
Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the northe ...
.
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) is alleged to have engaged in insider trading
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider informati ...
and embezzlement in connection to this, and fled Taiwan on 30 December 2006, days before prosecutors began their investigation. You-theng was detained in the U.S. and was wanted by Taiwanese prosecutors for allegedly embezzling NT$60 billion (US$1.8 billion) in corporate funds. He died in May 2016 in a traffic accident./ref>
Branches
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)See also
*List of companies of Taiwan
Taiwan maintains a stable industrial economy as a result of economic growth and industrialization during the late 20th century, being dubbed as one of the Four Asian Tigers along with Hong Kong, Singapore and South Korea. It is a member of both ...
References
External links
Rebar Corporate Website
(Simplified Chinese) Companies based in Taipei {{Taiwan-company-stub