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Mon, May 08, 2000 - Page 3 News List

New move to put KMT assets in trust

FRESH START At a weekend meeting, the richest political party in the world took steps toward reform with a proposal on how to deal with its assets

By Hung Chen-ling  /  STAFF REPORTER

Wealth Magazine editor-in-chief (財訊) Andy Liang (梁永煌) agreed.

Liang used the new KMT headquarters and the landed estate of KMT-owned Broadcasting Corporation of China (BCC) as examples that will prove the party's sincerity toward reform. The KMT reportedly illegally repossessed both pieces of land from the Japanese government after retrocession in 1945.

Liang said that the KMT must take responsibility for legitimizing its assets -- otherwise, it will have to hand back the assets to the government. And if the KMT cannot do that, then all it has said about reform is meaningless.

"The KMT has gained huge advantages with its enormous party assets, but it still lost ruling power. Should the KMT not come to its senses that money doesn't bring power, then perhaps it will maintain [its position as an opposition party] for a longer time than expected," Liang said.

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