The Chinese Nationalist Party (KMT) registered total assets of NT$26.8 billion (US$892.4 million), which earned the party NT$981.52 million in interest last year, about 63 percent of the party’s NT$1.549 billion in total revenue for the year, the Ministry of the Interior reported.
Pointing to the party’s vast assets and variety of profit-making enterprises under its control, critics said the KMT still retains the title of “the world’s richest political party.”
The party was described as “KMT Inc” by the Far Eastern Economic Review in 1994.
Critics further charged that much of the KMT’s assets were ill-gotten gains from past business monopolies and special privileges based on political connections over the party’s almost six decades of one-party rule in Taiwan.
Critics also said that the latest figures reveal that President Ma Ying-jeou (馬英九) has deceived the public with more “bounced checks.”
Ma promised when he assumed the KMT chairmanship in 2005 that party assets would not be used for election campaigns, and that the assets would be sold off and placed in trusts.
The ministry’s report showed that the Democratic Progressive Party (DPP) had a revenue of NT$440 million last year, less than 30 percent of the KMT’s.
The Taiwan Solidarity Union (TSU) and the People First Party (PFP) had revenues of NT$73 million and NT$39 million respectively.
Among the four major political parties, only the KMT has a spending deficit, with expenditure of NT$1.977 billion last year against revenue of NT$1.549 billion, putting it NT$428 million in the red.
The DPP had revenue of NT$440 million, with expenditure of NT$423 million last year, for a surplus of NT$17 million; the TSU had revenue of NT$73.37 million, with expenditure of NT$53.38 million, for a surplus of NT$19.99 million; and the PFP had revenue of NT$39.06 million, on expenditure of NT$11.57 million, for a NT$27.49 million surplus, according to the reports.
The KMT spent NT$1.4 billion, along with NT$500 million for office expenses, higher than the DPP’s overall party expenditure of NT$423 million last year.
The main sources of the KMT’s income are from property trusts (財產信託) of the party’s enterprises, which came to NT$981.52 million, or 63.37 percent of the party’s overall income last year.
The rest of the KMT’s income came from state subsidies (based on the party’s electoral results) at NT$293.12 million and political donations at NT$28.16 million.
The DPP’s main source of income was from state subsidies (based on party’s electoral results) at NT$227.82 million, at 51.7 percent of party’s overall income last year.
The DPP’s other income was NT$132.28 million in political donations and NT$51.66 million from party membership fees.
Instead of selling off party assets and putting the money into trusts, KMT has continue to reap profits from its investments, which contributed NT$980 million to party coffers last year. From 2006 to last year, the KMT’s investments have contributed a total of NT$13.56 billion to the party’s coffers.
UNDER INVESTIGATION: Huang’s body was found just outside the bathroom and showed no signs of a struggle, and no alcohol or drugs were found Singer and actor Alien Huang (黃鴻升) was found dead at his home in Taipei’s Beitou District (北投) yesterday. He was 36. Huang was also known by the nickname Xiao Gui (“little ghost”). His body was found when his father went to check on him after being unable to reach him by telephone, and called emergency services to the house at 11am, the Taipei City Police Department said. Huang’s body, which was discovered just outside the bathroom, showed no signs of a physical struggle, and he appeared to have been dead for some time, police said, adding that no drugs or alcohol were
Scooter riders should regularly clean their helmets, especially in summer, to prevent dirt and sweat from accumulating and causing scalp problems, such as hair loss and permanent baldness, a dermatologist has warned. Poor hygiene practices by helmet wearers often lead to scalp problems, such as bacterial folliculitis, tinea capitis and seborrheic dermatitis, Lu Pei-hsuan (呂佩璇) at Chang Gung Memorial Hospital said on Aug 31. The first step to maintain good scalp care is proper hair washing, as shampoo residues can easily cause dandruff and itchy scalps, while improper scratching will cause inflammation, Lu said. The best way to wash your hair is to
INTIMIDATION: Chinese military maneuvers have mostly led to heightened support for Taiwan’s defense forces, while China appears poised to continue its campaign China’s incessant military activities in and near the Taiwan Strait over the past several months are “greater in meaning than in substance,” and are aimed at polarizing Taiwanese society, a researcher said in a report published on Friday. China has attempted to intimidate Taiwan through military threats, while at the same time calling on Taiwanese and US officials to practice restraint, which is aimed at causing a rift between those who prefer resistance against China and those who prefer peace, said Lee Kuan-cheng (李冠成), a researcher at the Institute for National Defense and Security Research. “China’s goal is to obscure public awareness
CONFIRMED IN PHILIPPINES: The CECC would conduct contact tracing for the migrant workers to determine if they had come into contact with elderly people or children Six Filipinos tested positive for COVID-19 upon returning home from Taiwan, the Central Epidemic Command Center (CECC) said yesterday as it reported a case of imported COVID-19 infection, bringing the number of confirmed cases in Taiwan to 500. Philippine authorities reported four of the cases through the National IHR Focal Point, while the other two were reported by the company that they had worked for in Taiwan. The six — five women and one man — are aged from their 20s to 40s, and worked as in-home care workers, domestic workers, factory workers and sailors in Taiwan, said Minister of Health and