Ma Chi-ling, Taiwan's ninth largest financial holding and founder of Yuanta Group, passed away on the evening of October 18 at the age of 82.
On the Forbes rich list, Ma Chiling ranked as the fifteenth richest person in Taiwan, China, with a net worth of 3.3 billion US dollars, but was sentenced to 7 years and 4 months in prison for eight years in the Yuanta structural debt case, and then suspended from prison due to Alzheimer's disease.
The death of Ma Chiling, the founder of Yuanta Group, brought to an end the legendary life in the financial circle
Ma Chiling (middle) with eldest son Ma Weijian (left), second son Ma Weichen (right)
Ma Chi-ling, Taiwan's ninth largest financial holding and founder of Yuanta Group, died on the evening of October 18 at the age of 82.
Ma Chih-ling, after graduating from Taipei Municipal Jianguo Senior High School, was admitted to the Department of Commerce of National Taiwan University, and he is a "rich second generation". In his early years, he followed his father Ma Jiliang to help run the family building materials business, and handled important restructuring and mergers and acquisitions such as Taiwan Iron and Steel Company and Hsinchu Glass Manufacturing Factory.
Yuanta Group is the ninth largest financial holding company in Taiwan with securities business as the main body, including Yuanta Securities, Yuanta Commercial Bank, Yuanta Trust, Yuanta Investment Advisory, Yuanta Futures, Yuanta Venture Capital, Yuanta International Asset Management, Yuanta Life Insurance, etc. Among them, Yuanta's securities brokerage business has a market share of more than 12% in the island, and its group financing business has a market share of about 20%.
Yuanta Securities, the core plate of Yuanta Group, was founded in 1961, first established in Hankou Street, Taipei City, later moved to Boai Road, and then moved to the First Trust Building on Ren'ai Road in 1984. In 1990, Yuanta Securities became the first securities firm in Taiwan to run its own margin trading, and in 1994, it switched to investing in futures, and by 1995, Yuanta Securities became the largest securities firm in Taiwan and was officially listed for OTC trading. In 2004, Yuanta Securities was transferred to the OTC, and its listing was terminated on April 2, 2007 due to the merger with Fuhua Financial Holdings.
In 1974, Ma Chiling's son inherited his father's business, and his father Ma Jiliang took over Yuanta Securities, and began a life of financial legend. Ma Zhiling and his wife Du Lizhuang have 2 sons and 1 daughter; The eldest son, Ma Weijian, is currently a director of Yuanta Securities and Yuanta Life; The second son, Ma Weichen, is a director of Yuanta Life, Yuanta Financial Holdings, Yuanta Commercial Bank, and serves as the chairman of the Yuanta Foundation. Daughter Ma Weixin, currently assisting her husband's family to take care of the property, she is the chairman of Hexin Optoelectronics, and is also a director of Caijing, Winbond, Walsin Lihua and other companies, and is responsible for operating Hanyu Hotel.
Ma Weixin, daughter of Ma Zhiling
Ma Chi-ling, who is good at mergers and acquisitions, has created many legends in Taiwan's financial circles, such as his acquisition of Core Pacific Securities in July 2000, when he merged with Core China Securities and Dafa Securities, it was the first spontaneous merger of a large securities firm in Taiwan at that time. In 2003, Ma Chi-ling acquired the land next to Tai Adventist Hospital on Dunhua South Road in Taipei from the church and built the Yuanta Financial Holding Building, the current headquarters of the group's operations.
On April 2, 2007, after the acquisition of Fuhua Financial Holdings and the incorporation of it as a subsidiary, Yuanta Securities was delisted from the Taiwan stock market on the same day and established Yuanta Financial Holdings. In 2011, it acquired Bora Securities, and in 2013, it acquired New York Life, making Yuanta Financial's financial landscape more complete.
In 1994, Yuanta Securities established a Hong Kong subsidiary, acquired First Shanghai Securities Brokerage and Finance Co., Ltd. in Hong Kong, and transformed into Yuanta First Securities Brokerage Co., Ltd., actively moving towards internationalization, and won the seat of the Hong Kong Stock Exchange the following year and entered the B-grade securities firm of the Hong Kong Stock Exchange. In September 1998, Yuanta Securities (Thailand) was established after acquiring a 92.5% stake in Cathay Capital Securities of Thailand. In 2007, he switched to Vietnam First Securities and entered the Vietnamese securities market, and before that, he signed a strategic alliance with Singapore's Kim Eng Securities and exchanged shares with him through Yuanta "Thailand" to enter the Singapore securities market.
In addition, the Ma Chi Ling family acquired a 53.1% stake in Toyo Securities in 2014, acquired PT AmCapital Indonesia in September of the same year, and disposed of Toyo Savings Bank (Philippines) to Yuanta Bank in November, making the Philippines the first overseas launch of Yuanta Bank. In 2015, Yuanta Securities (UK) was established. In March 2016, it acquired shares in KKTrade, a Thai brokerage, and merged with Public Bank, making the delisted Public Bank a 100% holding subsidiary of Yuanta Financial Holdings. By 2017, Yuanta Securities (Thailand), which actively expanded the Thai market, had become one of the top ten securities firms in Thailand; In 2018, it also held 100% of Firstrade Securities.
In 2014, Ma Zhiling, who was deeply involved in the "Yuanta structural debt case", was sentenced to 7 years and 4 months in prison. Due to Alzheimer's disease, Ma Zhiling was allowed to suspend her admission to prison. According to Ma Zhiling's daughter Ma Weixin, her father has suffered from Alzheimer's disease for more than 10 years, and it is also a regret in life that a strongman in the financial circle has become a dementia old man. Ma Zhiling's death also means that he has completely freed himself from the noisy "Yuanta structural debt case".
Ma Zhiling's family in the early years took a group photo
Ma Chiling's beloved daughter, Ma Weixin, formerly known as "Princess Yuanda", married into another wealthy family, the Jiao family of Walsin Lihwa Group.
Her father Ma Chiling has a history of more than 14 years, and the outside world has always paid attention to the negative news caused by the "Yuanta structural debt case", but few people know that Ma Chiling has changed from a pivotal financial tycoon to a dementia and incapacitated old man.
The second generation of the Yuanta Malaysian family did not fall to the ground due to years of entangled judicial litigation, but stubbornly survived and embarked on a smooth road to sustainable development, the most important thing is to do a good job in the intergenerational inheritance of family businesses. The Ma Zhiling family "two generations of love as the warp, brotherhood as the weft", interweaving the family's dense relationship network, and carrying the family and career, but also to protect against external blows.
When Ma Weixin was very young, she was arranged by her father to study in the United States, and when she left, her father told her and her two brothers: "You must 'covenant three chapters' with me, brother and brother can marry foreign daughters-in-law, but Weixin cannot marry foreigners." Ma Weixin was the most favored daughter in the family, she did not understand why her father allowed her eldest brother Ma Weijian and younger brother Ma Weichen to marry foreign daughters-in-law, but she was not allowed to marry foreigners, and her father touched her head and said, "Dad is protecting you!" ”
Later, Ma Weixin also understood her father Ma Zhiling's painstaking care of her in every way, and returned from studying in the United States, and her younger brother Ma Weichen was sent by her father to a construction company that had to withstand the wind and sun every day, but she was arranged by her father to the safest and most stable family business at that time - Yuanta Touxin. Ma Weixin once said in an interview: Her father wants to give her the most weather-free life.
There is a father and a daughter! When people are most unoptimistic, I shoot
In 2014, Ma Chi-ling (center) was sentenced to 7 years and 4 months in prison for fraud
In June 2014, Ma Zhiling and Du Lizhuang, the founders of Yuanta Group, took advantage of the opportunity of selling the equity of Yuanta Investment Credit 9 years ago (Note: 2005) to transfer the loss of the Ma family's structural debt to the Yuanjing Securities and profit from the equity transaction of the two companies, known as the "Yuanta Structural Debt Case"; The "Supreme Court" upheld the original verdict and found that Ma Chiling and Du Lizhuang should be given more than NT$100 million in criminal gains, and their sentences should be increased, and the two should each be sentenced to seven years and four months, which is also the first case in which the husband and wife of a Taiwanese listed company have been imprisoned at the same time.
Life is like a dream, look at the column, what is the past, what is the name, what is the benefit, and open your eyes. Ma Chiling, who had become a trend in the past and was amazed in Taiwan's financial circles, did not expect that after the judgment of the "Yuanta Structural Debt Case", although he suffered from Alzheimer's disease and was temporarily imprisoned, he has been degraded like a child in the past eight years until his death, and he has become a person with dementia and disability, degraded like a child.
On August 6, 2014, the day she was sentenced to seven years in prison, his wife Du Lizhuang reported to the Taipei District Prosecutor's Office accompanied by three children, and when a tired-looking Du Lizhuang choked up and read out the open letter, her sons Ma Weijian, Ma Weichen and daughter Ma Weixin also frequently wiped their tears.
On the same day, Du Lizhuang was sentenced to serve his sentence, she said: She never thought that she would have to be separated from her mother-in-law who has lived with her for more than 40 years and her wife who has been married for half a century (Note: Ma Zhiling), she and her husband have worked hard since they were young, and they have never been sorry to anyone in their lives, but they did not expect to cooperate with government policies to deal with structural debts, so that their lifelong attitude of "sincerity, honesty, and courage to do things" suffered from unfair and unjust misunderstanding and distortion.
Du Lizhuang and Ma Zhiling
Du Lizhuang choked up and said that she had lived a very tormented life in recent years, and she could only choose to believe in justice and had no time to grieve. On the eve of entering prison, the 94-year-old mother-in-law comforted her: "We are all good people, and the public will help us!" Du Lizhuang said, watching the old man take double the dose of blood pressure medicine, physical discomfort but still strong spirit, really quite reluctant!
Du Lizhuang mentioned her husband Ma Zhiling again, and then looked at her beloved husband, who suffered from dementia and had degenerated like a child, waking up at night and always unable to sleep peacefully several times. Du Lizhuang told her husband: "Take good care, I can't accompany you, I'm going to jail!" Ma Zhiling could only look at her with wide eyes.
She said, looking at Ma Zhiling like a child, remembering that he used to say to himself: "We are not as smart as others, financial resources are not as good as others, people work for 6 hours, we will work for 12 hours, we can always catch up with others!" "Looking back on the past, they went from being the smallest brokerage firm in the market at that time to becoming the largest brokerage firm in Taiwan, all of which, except for hard work and hard work, there was no luck.
Du Lizhuang pointed out in the open letter that the Ma family can be wrongfully imprisoned, but she is frank in her heart that she is by no means the kind of person who encroaches on the rights and interests of shareholders. Before the prosecution of Yuanta Structural Bond trading case in 2005, Du Lizhuang was the chairman of Yuanta Securities, which was the leading securities firm in Taiwan at that time. By the way, in 2012, the "Second Gold Reform" fraud case was severely sentenced, and Chen Shui-bian and Wu Shuzhen were accused of accepting NT$200 million in bribes from the Yuanta Malaysian family.
In the past eight years, the Ma family, which has been caught in right and wrong, has gradually eased down, and Ma Zhiling's eldest son Ma Weijian and second son Ma Weichen have restored their position as the management level of various enterprises under the Yuanta Group in recent years. When Du Lizhuang was imprisoned, his youngest son and second young owner of Yuan University, Ma Weichen, had not yet married, and the next year he not only married Lin Jiaqi, a beautiful anchor at the front desk, but also added a golden grandson to the Ma family.
Ma Weixin, chairman of Hexin Optoelectronics
Yuan University Princess Ma Weixin, after marrying into the Jiao family of Walsin Lihwa Group, she was already enterprising, and successfully rescued Hanyu Caijing who fell into a loss for her husband Jiao Youqi, and later she focused on the hotel industry, and now she is the chairman of Hexin Optoelectronics, which manufactures panels, and is also the chairman of 5 companies, becoming a successful female entrepreneur whose career spans technology, investment, hotel catering and other industries.
Less well known is that Ma Weixin is also a female writer, she founded the Golden Apple Book Company, published dozens of children's picture books, and she also published new books such as "I'll Just Remember for You" and "Eternal Coffee Time", including books written for her parents Ma Zhiling and Du Lizhuang.
The book "I'll Just Remember for You" is Ma Weixin's memory of her grandfather Ma Zhiling from her daughter's perspective, including the ancestral love of her grandfather after suffering from dementia. And Ma Weixin's new book "Here, My New Playmate!" , is written about brother and sister love, Ma Weixin now has 1 son and 3 daughters. The book "Just Wait a Good Dad" was written in collaboration with Mainland Publishing House, focusing on the story of "low-headed" fathers.
Ma Weixin, born in 1969, once revealed that what she wants to do most in her next life is media, including making movies, TV series, and if possible, her role will be an original screenwriter. By the way, Ma Weixin received a doctorate in philosophy from Tsinghua University of Peking University because she likes to eat sugar fried chestnuts, and her pen name is "sugar chao chestnuts". Many people may not know that her debut novel, the full-length serialized novel "The Favorite", was first published on Sina.com in 2009.
If there is a father, there will be a daughter. Ma Weixin took over as chairman of Hexin in 2015, she took the thinking of her former parents to do finance, from the perspective of asset and cash allocation, cross-industry investment, but also entered the hotel, cultural and creative industries, in addition to increasing income, but also for the company to diversify risks and transformation. She often said: "When people are most unoptimistic, I shoot!" "In terms of management, Ma Weixin is sharp and crisp, and pays special attention to digital management.
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