Asia

Tech giants to donate COVID vaccines to Taiwan in China workaround

Published

3 years ago

12 July 2021

Taiwanese tech giants Foxconn and Taiwan Semiconductor Manufacturing Company announced Monday they will each donate five million coronavirus vaccine doses to the government in a deal with a China-based distributor.

Taipei has been struggling to secure enough vaccines for its population, and its precarious political status has been a major stumbling block.

As Taipei and Beijing accused each other of hampering vaccine deals, Foxconn and TSMC stepped in with a face-saving solution — buying the Pfizer-BioNTech doses from a Chinese distributor and donating them to Taiwan.

“Me and my team feel the public anxiety and expectations on the vaccines and we are relieved to give the public an answer that relevant contracts have been signed,” Foxconn founder Terry Gou said in a post on his Facebook page.

“Beijing authorities have not offered any guidance or interfered with the vaccine acquisition process,” he said, adding that the vaccines will be shipped directly by German firm BioNTech.

Foxconn and TSMC, the world’s largest contract electronics and chip makers respectively, said they will spend $175 million each on the vaccines.

Beijing’s authoritarian leadership views democratic self-ruled Taiwan as part of China’s territory and has vowed to one day seize the island, by force if needed.

China tries to keep Taiwan internationally isolated, including blocking it from the World Health Organization.

Taipei has been trying to secure Pfizer-BioNTech direct from Germany but Shanghai-based Fosun Pharma has the distribution rights for China, Hong Kong, Macau and Taiwan.

Attempts to sign a direct deal made little headway, something Taiwan blamed on Beijing.

In return, Beijing has accused Taiwan of refusing to deal with Fosun Pharma and politicising its vaccine search.

Fosun issued a statement late Sunday saying it had signed a deal with the Taiwanese firms to sell 10 million shots, to be donated to “disease control institutions in the Taiwan region”.

In an interview with China’s Global Times — a state-run tabloid — Fosun Chairman and CEO Wu Yifang accused Taipei of “rule-breaking in the whole process”. No further elaboration was provided.

Taiwan had only received 726,000 vaccine doses before the United States and Japan recently donated 2.5 million and 2.37 million doses, respectively.

So far, just 14 percent of its 23.5 million people have been vaccinated, according to the health ministry.

Health Minister Chen Shih-chung previously revealed that Taiwan and BioNTech were about to finalise a deal in January when the company suggested the words “our country” had to be taken out of a Taiwanese press statement.

Chen said authorities agreed to replace it with “Taiwan” but the deal remained stalled.

The Chinese government reacts angrily at any attempts to recognise Taiwan as an independent nation.

— AFP

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Asia

Up to 200 athletes tested for doping so far at Asian Games

Between 150 and 200 Asian Games athletes tested for doping, yielding no positive results. Anti-doping efforts emphasized for a clean event, focusing on record-breakers.

Published

1 year ago

25 September 2023

Agencies

HANGZHOU, CHINA — Between 150 and 200 Asian Games athletes have already been tested for doping, the Olympic Council of Asia said on Monday, with no positive results so far.

Speaking at an anti-doping press conference on the second full day of the Games in the Chinese city of Hangzhou, the OCA said dope-testing was “gaining momentum” at the event.

Mani Jegathesan, an adviser to the OCA anti-doping committee, warned that drug cheats would be rooted out.

Up to 200 athletes have been tested so far, he said, but any positive results will take several days to come through.

“Every athlete participating in these Games must understand that they could be picked at any time,” Jegathesan warned.

“That is the best step to ensuring we have a clean event.”

There are about 12,000 athletes at the 19th Asian Games, more competitors than the Olympics, and Jegathesan admitted it would be impossible to test them all.

Instead, they will prioritise, including picking out those who break world or Asian records.

— AFP

Asia

Foodpanda’s restructuring amid sale speculations

Food delivery giant Foodpanda, a subsidiary of Delivery Hero, announces staff layoffs in the Asia-Pacific region, aiming for increased efficiency. This move coincides with ongoing talks about potentially selling parts of its 11-year-old business.

Published

1 year ago

24 September 2023

June Moh

Foodpanda, a subsidiary of Delivery Hero, is initiating undisclosed staff reductions in the Asia-Pacific region, as discussions continue regarding the potential sale of a portion of its 11-year-old food delivery business.

In a memorandum circulated to employees on 21 September, Foodpanda CEO Jakob Angele conveyed the company’s intent to become more streamlined, efficient, and agile.

Although the exact number of affected employees was not disclosed, the emphasis was on enhancing operational efficiency for the future.

No mention was made in the memo regarding the reports of Foodpanda’s potential sale in Singapore and six other Southeast Asian markets, possibly to Grab or other interested buyers.

Foodpanda had previously conducted staff layoffs in February and September 2022. These actions come as the company faces mounting pressure to achieve profitability, particularly in challenging economic conditions.

The regulatory filings of Foodpanda’s Singapore entity for the fiscal year 2022, ending on 31 Dec, indicated a loss of S$42.7 million despite generating revenue of S$256.7 million.

Angele further explained that Foodpanda intends to review its organizational structure, including both regional and country teams, with some reporting lines being reassigned to different leaders. Additionally, certain functions will be consolidated into regional teams.

Expressing regret over the challenging decisions, Angele assured affected employees of a severance package, paid gardening leave, and extended medical insurance coverage where feasible.

Foodpanda will also forego the usual waiting period for long-term incentive plan grants, and vesting will continue until the last employment date. Employees will retain all vested shares as of their last day of employment.

Foodpanda, established in 2012 and headquartered in Singapore, became a part of Delivery Hero in 2016. The company operates in 11 markets across the Asia-Pacific region, excluding its exit from the Japanese market last year.