In this
Monday report from DigiTimes, it appears that Taiwan Optical disc maker, Optodisc,
may be in financial troubles. According to the report, a local court has imposed
a "provisional seizure" of the assets of the company, as well as the personal
assets of CEO David Wang and Company President Jasper Chao.
 Two
Taiwan-based banks, TC Bank and the Bank of Kaohsiung, asked for the
provisional seizure to protect their creditor rights, according to the
filings. According to the local court's decision, the provisional seizure
covers a portion of Optodisc's factory buildings and manufacturing
equipment as well as part of the personal assets of Wang and Chao, noted
the filings.
Optodisc recorded a high debt ratio of 83% at the end of the
first quarter of this year and a total liability of about NT$7.0 billion
(US$213 million) currently. |
Source: DigiTimes
