■ AEGON to pump up local branch
AEGON, the world's third largest listed insurance company, has decided to place an investment of NT$2 billion in its Taiwan-based branch, Mark Wei (魏寶生), director-general of the Financial Supervisory Commission's insurance bureau, told the press during a briefing yesterday. After the capital investment, AEGON's Taiwan-based branch would sit on a total asset of NT$35 billion, Wei added. Wei made the remark while briefing reporters about the achievements made by commission chairman Kong Jaw-sheng (龔照勝) during his overseas visit late last month.
■ Oil suppliers eyed for collusion
The nation's two oil suppliers, Chinese Petroleum Corp (中油) and Formosa Petrochemical Corp (台塑石化), are being investigated on suspicions of adjusting oil prices in collusion in recent years, the Fair Trade Commission Chairman Hwang Tzong-leh (黃宗樂) told legislators yesterday. Hwang said the government has begun probing possible collusion between the two companies, which he said would be in violation of fair trade laws and consumers' rights. The commission has received numerous complaints from ordinary gas station customers that the two companies have raised or lowered prices in sync 20 times since 2002, Hwang said. The commission will publicize the results of the investigations in three weeks and that a commission will then decide if and how the two companies will be dealt with -- including possible fines ranging from NT$50,000 to NT$25 million.
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