As with former Chinese Nationalist Party (KMT) legislator Diane Lee’s (李慶安) dual nationality controversy, the longer the KMT avoids facing questions about its party assets, the more the public suspects its motives. As it attempts to patch over the lies it told in the past, the problem gets tougher and more costly.
Broadcasting Corp of China (BCC) chairman Jaw Shaw-kong (趙少康) has applied to the National Communications Commission to split the BCC into two companies, one for media affairs and one for asset management. But many suspect that the proposed asset management firm might once more come under the control of the KMT’s Central Investment Co.
Jaw’s move highlights the fact that, when purchasing the BCC back in 2005, Jungli Investment Co only wanted the BCC’s media assets and equipment, because it viewed the KMT’s fixed assets as a hot potato. The KMT promised that the Song Jiang Building, where the BCC was headquartered, and other land properties under litigation would be bought back and dealt with by the KMT-run Hua-Hsia Investment Holding Co. The KMT repeated this promise when Jungli Investment Co resold the BCC to Jaw. The sales of the Central Motion Picture Corp (CMPC), BCC and China Television Co (CTV) are tangled together and could end up as KMT assets once more.
The KMT included a non-disclosure agreement in the contracts for its party assets, which makes it difficult for outsiders to decode the transactions. But it is strange that decisions on selling the CMPC, BCC and CTV still rest with the KMT. One has to wonder whether the KMT’s move to sell the BCC and CTV was just a pretense, with the party still holding the right to deal with the assets. It appears that all these transactions were just another cover-up to relieve the pressure on the KMT to settle its party assets.
The questionable origin of the KMT’s party assets has often put the party under fire, especially at election time. When Ma Ying-jeou (馬英九) became KMT chairman in 2005, he pledged to fully dispense with the party’s assets by 2008. Ma’s successor, Wu Poh-hsiung (吳伯雄), also vowed to reduce the party’s assets to zero, although once he was chairman he quickly changed his tune, promising instead to cut party-owned enterprises to zero.
Wu’s first pledge was an admission that the party still had some assets, and he said they would be donated to deserving causes. Later, however, he said the party would rid itself of party-owned companies but retain other assets to fund campaigns so its candidates would not be tempted to accept bribes or payoffs.
From Ma to Wu, the KMT’s changing stance has shown its insincerity. These pledges were made to hoodwink the electorate. The KMT’s assets have not been “reduced to zero” as promised. What has been cut to zero is the party’s credibility.
The KMT should give the public a frank account of how it is dealing with the BCC, the CMPC, CTV and other party assets, and apologize for its shortcomings. Although Ma is no longer KMT chairman, he should bear in mind the pledge he made. He and Wu share a responsibility to return the party’s assets to the nation.
The longer the KMT dodges issues such as these, the more it paints itself into a corner. In the end, voters will punish the KMT at the ballot box.
Diane Lee’s failure to deal in a forthright manner with her dual nationality issue has been a big embarrassment for the KMT. The party should heed the warning.
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