TAIPEI, April 16, 2026 /PRNewswire/ — As the 2026 Annual General Meeting (AGM) for BES Engineering Corporation (BES, 2515.TW) approaches on May 21, 2026, Delpha Construction Company (Delpha, 2530.TW) and PJ Group has formally intensified its shareholder activism campaign, backed by a strategic share-buying initiative that has now secured a 22% stake in the Company. This acquisition of equity signals Delpha’s commitment to obtaining control and participating directly in BES management to force a long-overdue transition toward strengthened corporate governance and enhanced operational stability.
Leveraging its deep roots in the Taiwanese development sector, Delpha calls for significant changes to the BES board in response to the company’s long-term financial trends and internal oversight issues. The campaign, detailed at www.delpha.com.tw/en/financials, aims to replace a leadership structure currently navigating legal litigation and below-market performance with a slate of candidates focused on transparency and capital efficiency.
This mandate for reform is driven by concerns regarding systemic governance risks and the current leadership’s ties to entities involved in ongoing legal controversies. Following judicial findings of financial irregularities and bribery in the Core Pacific City case, investigations have identified the misappropriation of BES Company funds (Taiwan Taipei District Court, 2024 Financial Criminal Case No. 51), impacting the organization’s institutional reputation and market valuation.
Early this April, the BES board removed all shareholder-nominated director candidates, promptly met with a legal challenge before the Commercial Court. The Court subsequently ruled in favor of the shareholders on April 15, 2026 (Intellectual Property and Commercial Court 2026 Commercial Provisional Case No. 4 and No. 5), finding the BES board’s removal of candidates to be illegal and ordered BES to reinstate all shareholder candidates on the ballot. This shareholder judicial victory underscores the urgent need for shareholder nominees to prevent further manipulation and provide sound governance.
Delpha’s intervention aims to address long-term operational challenges that have resulted in limited growth and margin compression for BES. By leveraging Delpha’s superior operational model, the proposed board will prioritize shareholder rights, value generation, and the synergy between the two Companies. Replacing a board subject to recent legal developments and a period of financial underperformance with a leadership team focused on capital efficiency and ethical transparency.
Comprehensive details of Delpha’s proposal for BES Engineering are hosted at www.delpha.com.tw/en/financials, a public resource for all stakeholders. All relevant disclosures are available to assist shareholders and proxy advisors in their evaluation of the campaign.
About Delpha Construction Company
Delpha Construction Co., Ltd. (Ticker: 2530.TW) is headquartered in Neihu District, Taipei, and is primarily engaged in real estate development, construction, leasing, and property sales. Our operations span across Taipei City, New Taipei City, Taoyuan, Taichung, and Tainan.
Since its establishment more than six decades ago, Delpha Construction has upheld the core values of integrity, prudence, and professionalism, cultivating the fabric of cities and creating spaces that harmoniously integrate with land and communities.
We do not simply build structures — we build trust, relationships, and the future.
CONTACT:
Ken Wang
kenwang@delpha.com.tw
+886 226328877#808
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SOURCE Delpha Construction Company
