Latest news with #DavidLiu
Yahoo
3 days ago
- Automotive
- Yahoo
Driverless-trucking developer Plus to go public via merger
Plus, an autonomous driving software provider, announced on Thursday it will become a publicly traded company through a merger with Churchill Capital Corp IX. The combined company will operate as PlusAI. 'This transaction provides access to capital and strategic support that will help us advance our product roadmap, execute our development and commercialization strategy, and deliver a transformative logistics solution to one of the world's largest and most essential industries,' David Liu, co-founder and CEO of Plus, said in a news release. Santa Clara, California-based Plus was founded by Liu and Stanford University classmate Shawn Kerrigan in 2016. The company develops AI-based virtual driver software for factory-built autonomous has deployed autonomous driving technology across the U.S., Europe and Asia, which has been used for more than 5 million miles of driving. The company provides autonomous software to global truck manufacturers Traton Group, Hyundai and Iveco. The company's self-driving system, known as SuperDrive is built to autonomously operate heavy commercial trucks. In April, Plus achieved a key driver-out safety validation milestone with SuperDrive and is currently conducting public road testing in Texas and Sweden, the company said. Additional customer fleet trials are scheduled for fall. SuperDrive will initially be targeted to truck manufacturers in the U.S. and then expand to Europe. Plus will market SuperDrive as a driver-as-a-service model, providing autonomous software to enable trucking firms with recurring per-mile valued at $1.2 billion pre-money equity value, will provide an attractive entry point for Churchill IX shareholders, officials said. 'After evaluating many opportunities, we knew Plus was the right partner,' Michael Klein, chairman and CEO of Churchill IX, said in a statement. 'Trucking is the backbone of the global economy, but the industry faces a persistent driver shortage that autonomous trucking has the potential to solve. Broad adoption depends on confidence in vehicle performance and safety and Plus stands out with its advanced virtual driver platform and a customer-centric commercialization model led by OEM partners.' Churchill IX is a so-called blank check company, formed for the purpose of targeting other firms for mergers. The transaction is expected to deliver $300 million in gross proceeds from cash held in Churchill IX's trust account, which is expected to fund Plus through its commercial launch of SuperDrive-enabled, factory-built autonomous trucks by 2027. It's not the first time that Plus was rumored to be in talks to go public. In April 2021, Plus was reportedly close to merging with Hennessy Capital Investment Corp. V, a special purpose acquisition company. The post Driverless-trucking developer Plus to go public via merger appeared first on FreightWaves.
Malay Mail
4 days ago
- Business
- Malay Mail
Singapore businessman arrested in Bangkok for allegedly evading RM675,000 in Thai taxes
SINGAPORE, June 5 — A 71-year-old Singaporean businessman was arrested at Bangkok's Suvarnabhumi Airport on June 2 for allegedly evading more than 5.2 million baht (RM675,000) in taxes, Thai police said. David Liu, identified as a former director of Isentia Monitoring Services (Thailand), was apprehended by Thailand's Economic Crime Suppression Division (ECD) as he was about to board a flight to Singapore, according to a report published in The Straits Times today. ECD commander Thatphum Charuprat said Liu is suspected of fraudulently avoiding value-added tax payments during his time as an authorised director of the media analytics company from July to October 2015. Liu had been appointed Asia CEO of the Sydney-based media intelligence company Isentia on June 1, 2015, according to the firm's annual report, and left the company in 2019. At a media briefing, Liu admitted to previously serving as a director of the firm but denied any wrongdoing, according to ST, citing a Bangkok Post report. The case stems from a complaint filed by Thailand's Revenue Department, which found that Isentia had reported zero tax returns despite evidence of revenue generation. Police said no representative responded to a summons issued over the alleged tax violations, prompting the Phra Khanong Criminal Court to issue an arrest warrant for Liu. Authorities estimate the state lost nearly 5.24 million baht in tax revenue due to the incorrect filings. Liu, now listed as CEO of a data intelligence firm on LinkedIn, was arrested before he could leave the country. If convicted, he could face up to seven years in jail and a fine of up to 200,000 baht.
AsiaOne
4 days ago
- Business
- AsiaOne
Singaporean businessman arrested at Bangkok airport for alleged $200k tax evasion
A Singaporean businessman was arrested at Bangkok's Suvarnabhumi Airport on suspicion of tax evasion amounting to over 5 million baht (S$197,550), said Thai police in a Facebook post on Wednesday (June 4). David Liu, 71, was arrested after a complaint by Thailand's Revenue Department against media analytics company Isentia Monitoring Services, where he had worked as a director from July 1 to Oct 30, 2015, reported The Straits Times. According to the Facebook post by Thailand's Central Investigation Bureau, the company was found to have reported zero sales, purchase, and net tax obligations, despite generating business revenue — indicating incorrect tax filings. Further investigation into the value-added tax filings of the company revealed that the total damages to the state were close to 5.24 million baht, the police added. An investigation officer from the Economic Crime Suppression Division (ECD) had issued a summons for the company's directors to acknowledge the charges, but they received no response, which led to suspicions of evasion. An arrest warrant for Liu was subsequently issued by the Phra Khanong Criminal Court, reported The Thaiger. According to the Bangkok Post, Liu was detained on June 3 at the immigration checkpoint of Suvarnabhumi Airport as he prepared to return to Singapore. Liu denied the charges during questioning but admitted to previously holding an authorised director position at Isentia. Liu faces a fine of up to 200,000 baht and a seven-year prison term if found guilty of charges relating to tax evasion. [[nid:718606]]
AsiaOne
4 days ago
- Business
- AsiaOne
Singaporean businessman arrested at Bangkok airport for alleged $200k tax evasion, Singapore News
A Singaporean businessman was arrested at Bangkok's Suvarnabhumi Airport on suspicion of tax evasion amounting to over 5 million baht (S$197,550), said Thai police in a Facebook post on Wednesday (June 4). David Liu, 71, was arrested after a complaint by Thailand's Revenue Department against media analytics company Isentia Monitoring Services, where he had worked as a director from July 1 to Oct 30, 2015, reported The Straits Times. According to the Facebook post by Thailand's Central Investigation Bureau, the company was found to have reported zero sales, purchase, and net tax obligations, despite generating business revenue — indicating incorrect tax filings. Further investigation into the value-added tax filings of the company revealed that the total damages to the state were close to 5.24 million baht, the police added. An investigation officer from the Economic Crime Suppression Division (ECD) had issued a summons for the company's directors to acknowledge the charges, but they received no response, which led to suspicions of evasion. An arrest warrant for Liu was subsequently issued by the Phra Khanong Criminal Court, reported The Thaiger. According to the Bangkok Post, Liu was detained on June 3 at the immigration checkpoint of Suvarnabhumi Airport as he prepared to return to Singapore. Liu denied the charges during questioning but admitted to previously holding an authorised director position at Isentia. Liu faces a fine of up to 200,000 baht and a seven-year prison term if found guilty of charges relating to tax evasion. [[nid:718606]]
The Star
5 days ago
- Business
- The Star
Singaporean businessman nabbed before flight at Bangkok airport over suspected tax evasion
David Liu was about to board a flight to Singapore on June 2, 2025 when he was arrested in the Thai capital. - Photo: CIBTHAILAND/Facebook SINGAPORE: A Singaporean businessman who was about to fly back home was arrested at Bangkok's Suvarnabhumi Airport over suspected tax evasion to the tune of more than 5.2 million baht (S$205,000), Thai police said on Wednesday (June 4). He was identified by the Thai police's Economic Crime Suppression Division (ECD) as David Liu, 71, a former director of media analytics company Isentia Monitoring Services (Thailand). Liu was about to board a flight to Singapore on June 2 when he was arrested in the Thai capital, said ECD commander Thatphum Charuprat. He was arrested for allegedly trying to evade by fraud or deceit value-added tax payable by Isentia. Investigations had found that the Singaporean was an authorised director of the media company from July to October 2015. According to an annual report by Isentia, Liu was appointed as the Asia chief executive of the Sydney-headquartered media intelligence company on June 1, 2015. He left Isentia in 2019, according to a post on LinkedIn, where he is now listed as CEO of a data intelligence firm. He admitted to previously being the director of Isentia, but denied wrongdoing, the Bangkok Post reported, citing ECD commander Thatphum Charuprat at a media briefing. Thailand's Revenue Department had filed a complaint against Isentia after discovering an incorrect tax filing of zero tax returns despite the company being found to have generated revenue. But no company representative responded after a police summons was issued, said the police. The suspected damages against the state in lost revenue was nearly 5.24 million baht, said the ECD. An arrest warrant was subsequently issued by the Phra Khanong Criminal Court. Liu was tracked by the police and arrested at Suvarnabhumi Airport before he boarded his flight. If convicted, he faces a fine of up to 200,000 baht and a seven-year prison term. The Straits Times has contacted Isentia for comment. - The Straits Times/ANN
