Company Briefs: Shanghai Turbo

Shanghai Turbo

China-based precision manufacturer Shanghai Turbo has uploaded a video of events which took place when it was under "siege", including a violent stand-off at its factory in China. This comes amid a tussle over management changes at the mainboard-listed company.

The video showed events from April 15 to Sept 20, last year. It was played for shareholders at the firm's annual general meeting yesterday.

Shanghai Turbo has been engaged in a legal tussle with former executive director Liu Ming since he was voted off the board last April.

The company said in June that operations at a factory in China owned by a key operating subsidiary had been "temporarily stopped" and, in July, told shareholders that there was an "illegal occupation of the factory premises by some of the former management personnel and their associates".

The dispute came to a head in September when a group of people were allegedly attacked with plastic batons by associates of Mr Liu. Two of the men said to have been assaulted were Mr Raymond Lim, independent non-executive director of Shanghai Turbo Enterprises, and Mr Zhang Rong, chief executive officer of its Changzhou 3D Technological Complete Set Equipment subsidiary.

The company sued Mr Liu for "failing to deliver up the factory premises" and also said that the Singapore High Court has granted an injunction to freeze Mr Liu's assets here.


Apple

Apple is designing and producing its own device displays for the first time, using a secret manufacturing facility near its California headquarters to make small numbers of the screens for testing purposes, according to people familiar with the situation.

The technology giant is making a significant investment in the development of next-generation MicroLED screens, say the people, who requested anonymity. MicroLED screens use different light-emitting compounds from the current OLED displays and promise to make future gadgets slimmer, brighter and less power-hungry.

The people say engineers have been making progress and the technology is at an advanced stage, though consumers will probably have to wait a few years. The company's move into displays has the long-term potential to hurt a range of suppliers, from screen makers like Samsung Electronics to firms like Synaptics Inc that produce chip-screen interfaces. It may also hurt Universal Display Corp, a leading developer of OLED technology.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on March 20, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe