Sat, Oct 13, 2012 - Page 13 News List

Ministry to tap Sung to chair TFCC

By Amy Su  /  Staff reporter

Minister of Finance Chang Sheng-ford (張盛和) confirmed yesterday the ministry would tap national policy advisor Christina Sung (宋文琪) to be the new chairperson of Taipei Financial Center Corp (TFCC, 台北金融大樓公司), the firm which owns the Taipei 101 skyscraper.

The ministry is scheduled to submit the appointment to the Cabinet for review as early as next week, he said.

Sung would officially take up the position as early as the middle of next month after the company holds a board meeting and a shareholders’ meeting to approve her appointment.

“She [Sung] is a very talented person, with an extraordinary and solid background and lots of experience,” Chang said by telephone yesterday.

Sung, who is especially known for her expertise in the mutual fund business, is a veteran of the financial industry, especially in the foreign investment consulting sector.

She has previously served as the chairperson of JF Taiwan Ltd (怡富證券投資顧問), as head of JPMorgan Asset Management Taiwan (摩根富林明投信) and as head of HSBC Asset Management in Taiwan.

A ministry official, who asked not to be named, told the Taipei Times that Sung’s solid experience in the financial sector was the major reason behind her appointment. The ministry hopes her experience could help attract more foreign tenants to Taipei 101, the official added.

The ministry was forced to the search for a suitable candidate to lead TFCC after Harace Lin (林鴻明), the former chairman, was taken into custody by Taipei prosecutors on Sept. 27 on fraud charges.

State-owned funds and enterprises hold about a 44 percent stake in TFCC, while Ting Hsin International Group (頂新集團) holds 37 percent.

Wei Ying-chiao (魏應交), chairman of Ting Hsin, which owns Taiwan’s Wei Chuan Foods Corp (味全) and the Master Kong (康師傅) instant-noodle brand in China, is the vice chairman of TFCC.

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