The debt-ridden Chung Shing Commercial Bank (
But a Ministry of Finance official denied the report, telling the Taipei Times yesterday that, "The ministry has not made any decision on how to resolve the Chung Shing situation."
The Bank of Taiwan, which has a capital-adequacy ratio of 16.49 percent and a net worth of almost NT$150 billion, has the capacity to take over Chung Shing Commercial. The Bank of Taiwan's assets total NT$2.3 trillion, the report said.
"The Bank of Taiwan is best qualified to take over Chung Shing, because its strong balance sheet can easily absorb Chung Shing's bad assets," Chung Shing spokesman Pai Ching-chung said.
The financial reconstruction Fund (
One pundit said the move didn't make sense.
"It would be an unwise decision to chose the Bank of Taiwan to take over Chung Shing Commercial," said Lee Tong-how (李桐豪), a finance professor at National Chengchi University.
"The most efficient way to resolve the Chung Shing situation is to set up a bridge bank, which would run the problematic bank for three to five years, then sell it to anyone who is qualified and interested in it."
The ministry has promised to use state-run Resolution Trust Corp's funds to bridge Chung Shing's cash shortfall before a buyer can be found.
"The government has promised to polish Chung Shing to attract buyers," Pai said.
"For Chung Shing Bank to be taken over by another state-owned bank is the worst possible choice," Lee said.
"The government can either shut down the bank or sell the bank to anyone who is qualified. The worst choice is to leave the problem to a state-run bank. The move would simply errode the Bank of Taiwan's finances."
The finance ministry took over Chung Shing Commercial's management in August 2000.
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
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