Thu, Aug 17, 2006 - Page 12 News List

Liu appointed as administrative vice minister of finance

By Amber Chung  /  STAFF REPORTER

The Cabinet yesterday appointed National Treasury Agency Director-General Liu Deng-cheng (劉燈城) as the administrative vice minister of finance, filling a vacancy left by Gordon Chen (陳樹), who was appointed chairman of the Taiwan Stock Exchange Corp last week.

Liu was chosen because he is a "senior financial business official," Government Information Office Minister and Cabinet Spokesman Cheng Wen-tsang (鄭文燦) said at a press briefing.

"I will spare no efforts in my new job and will continue to implement necessary policies," Liu, 56, told reporters yesterday.

Liu will oversee business involving the management of state shareholdings, the national treasury and national properties.

Liu, who holds a master's degree in international business from National Taiwan University, is a seasoned public servant with nearly 35 years of experience.

He assumed office as director-general of the National Treasury Agency in April 2002.

During his four-and-a-half-year director-generalship, Liu also doubled as the convener of the ministry's taskforce that manages state stakes in financial institutions and the disposal of shareholdings in state-controlled companies.

Meanwhile, according to ministry sources, Mckinney Tsai (蔡友才), president of Mega Financial Holding Co (兆豐金控), will take up the chairmanship of its banking unit, Mega International Commercial Bank Co (兆豐國際商銀), formed as a result of the merger of International Commercial Bank of China (中國國際商銀) and Chiao Tung Bank (交通銀行), on Monday.

Chiao Tung's vice president Hsu Kuang-shi (徐光曦) will be appointed as president of Mega International, sources said.

Separately, the ministry is planning to budget for the disposal of a 17 percent government stake in Chang Hwa Bank (彰化銀行) next year.

The ministry may name Taishin Financial Holding Co (台新金控), which already has a more than 25 percent stake in Chang Hwa, as its preferred bidder for the stake if the Legislative Yuan approves the sale, an official said.

additional reporting by Jimmy Chuang

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