Taipei Times
Date: Jan 04, 2017
By: Kuo Chia-erh / Staff reporter

Tingyi (Cayman Islands) Holding Corp’s (康師傅控股) Taiwan depositary receipts (TDR) yesterday slid 0.51 percent to NT$19.40 in Taipei trading after the company — the parent of China-based Master Kong Holdings (康師傅) — on Monday confirmed that it was dissolving its Taiwan operations.

Ting Hsin International Group (頂新集團), which was involved in a series of food scandals in 2014 and 2015, was in charge of Master Kong’s instant noodle business in Taiwan.

The group’s board of directors has approved a plan to completely withdraw from the Taiwanese market, Ting Hsin’s vice president for public affairs Chia Hsien-der (賈先德) told reporters on Monday.

The dissolution would not affect the company’s TDR trading on the Taiwan Stock Exchange, Chia said.    [FULL  STORY]