TAIPEI // A kidnapped Hong Kong tycoon has been freed in a dramatic rescue after he was held captive for more than a month by criminals who demanded a US$9 million ransom, Taiwan authorities said Wednesday.
Wong Yuk-kwan, chairman of the Hong Kong-listed Pearl Oriental Oil exploration company, was found chained and beaten up Tuesday in a shack in a western Taiwan village after being abducted outside Taipei on September 20, according to authorities.
Television footage of the rescue operation showed the 67-year-old, also known as Wong Kwan, looking frail and frightened as he sat on the floor of a barren room with his feet cuffed.
His face was bruised and he was clutching his legs, which were covered in cuts.
Fifteen people were arrested over the abduction, including a man suspected of masterminding the kidnapping, according to the authorities.
The kidnappers requested a ransom of HK$70m (Dh33.1m) through emails to Mr Wong’s office in Hong Kong and demanded to be paid in virtual currency bitcoins, authorities said.
“We are assisting the Hong Kong police with the investigation on their end as well,” an official from New Taipei City police said, adding that no ransom was paid.
Mr Wong’s company was unavailable for comment.
The businessman, who was in Taipei for medical treatment according to Taiwan media reports, is still facing charges that were brought against him and Pearl Oriental Oil executives in 2013 by Hong Kong’s anti-corruption watchdog.
He is accused along with three others of fraud and money laundering relating to the acquisition of an oilfield in the United States.
He has been on a HK$5 million bail since.
Two of the defendants in the case were found guilty in May this year and sentenced to seven years and five years in jail respectively.
Pearl Oriental Oil’s main business is oil and gas exploration and the company is valued at HK$957 million. Its main asset is the oilfield in Utah and it also runs a plastic recycling business, according to its website.
Hong Kong has a long history of kidnaps targeting high-profile members of the business community.
In April, a Hong Kong textiles heiress was abducted and released three days later, after her family paid her captors a ransom of HK$28 million.
Nine people were arrested over the abduction after Hong Kong authorities launched a massive operation to hunt down the suspected kidnappers.
* Agence France-Presse
COMPANY%20PROFILE
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Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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COMPANY%20PROFILE
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Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
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The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
'Champions'
Director: Manuel Calvo
Stars: Yassir Al Saggaf and Fatima Al Banawi
Rating: 2/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
SPEC%20SHEET%3A%20APPLE%20IPHONE%2014%20PRO%20MAX
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The%20end%20of%20Summer
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BEETLEJUICE BEETLEJUICE
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Director: Tim Burton
Rating: 3/5
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