TransAsia chair released on bail, ordered to stay in TaiwanTAIPEI--Vincent Lin (林明昇), chairman of the recently dissolved TransAsia Airways, was released on a NT$5 million (US$157,000) bond early Saturday after being questioned by prosecutors over possible insider trading a day before the company announced its decision to bow out of Taiwan's airline business. Lin, a 42-year-old third-generation tycoon known for his love of fast cars, was ordered not to leave the country pending further investigation. Among them, Cheng Shan-shan (鄭珊珊) was released on a NT$5 million bond and two others on a NT$1 million bond. TransAsia initially denied the rumors, but announced later that day all flights on Nov. 22 were canceled. TransAsia lost more than NT$2.2 billion during the first three quarters of 2016, after its sales in 2015 declined by 19.64 percent to NT$10.58 billion.

Source: The China Post November 26, 2016 16:28 UTC