Tue, Nov 21, 2006 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ FSC to scrutinize Koo Jr

The Financial Supervisory Commission said yesterday that it will review whether Jeffery Koo Jr (辜仲諒) is a "proper" choice to serve as vice chairman of Chinatrust Financial Holding Co (中信金控), the nation's seventh-largest financial group, if he is listed as wanted.

Taipei prosecutors said on Sunday that Koo Jr could be arrested or listed as wanted should he fail to appear at the Taipei District Prosecutors' Office tomorrow for questions regarding the company's illegitimate transactions during its disputed takeover investment in larger rival Mega Financial Holding Co (兆豐金控).

■ Uni-President eyes HK market

Uni-President Enterprises Corp (統一企業), Taiwan's leading food manufacturer, will spin off its China operations for a listing in Hong Kong next year, the Chinese-language China Times reported yesterday.

The report said the listing is expected to help Uni-President get around Taiwan's rules that impose a China investment ceiling of 40 percent of a company's net worth, adding the regulatory restrictions have interrupted the food company's expansion strategy in China.

Uni-President Enterprises declined to comment on the report.

■ NT drops against US dollar

The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.002 to close at NT$32.936.

A total of US$619 million changed hands during the day's trading.

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