Mon, Jul 23, 2018 - Page 3 News List

Assets committee releases appraisal of KMT assets

By Chen Yu-fu and William Hetherington  /  Staff reporter, with staff writer

Chinese Nationalist Party (KMT) headquarters in Taipei are pictured on May 31.

Photo: Chien Jung-fong, Taipei Times

Chinese Nationalist Party (KMT)-affiliated Central Investment Co accumulated stock worth NT$24.7 billion (US$804.14 million) by the end of last year, the Cabinet’s Ill-gotten Party Assets Settlement Committee said.

The committee in November 2016 identified Central Investment and its spinoff, Hsinyutai Co, as organizations affiliated with the KMT.

The two companies earlier this year filed financial reports in accordance with the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例).

The latest financial report showed that the KMT holds about NT$18.9 billion in assets, with about NT$15.6 billion of that being associated with Central Investment and Hsinyutai, after taking the companies’ debts into account.

Both companies’ assets have been frozen, the committee added.

Central Investment’s assets include 33 plots of land, 29 buildings, bank savings of NT$87.66 million and stock worth NT$24.7 billion, including NT$410 million in privately listed company stock, the committee said.

The company holds NT$100 million in Hsing Ta Cement Co stock alone, which it purchased through Shin Kong Financial Holding Co, Yuanta Financial Holding Co and Grand Fortune Securities Co Ltd, the committee said.

Central Investment’s unlisted stock holdings, worth NT$24.28 billion, include shares in Taiwan Pineapple Corp, Taiwan Sugar Corp, Core Pacific City Mall and TECO Nanotech Co, among others, it said.

The KMT also sold NT$244.5 billion of negotiable securities between 1999 and 2016, including stock worth NT$103.7 billion, bonds worth NT$500 million and beneficiary certificates worth NT$140.29 billion from Capital Investment Trust Corp and other investment companies, the committee said.

The committee uncovered KMT assets worth NT$5.46 million from the sale of 273 units in a mausoleum tower for cremated remains, as well as NT$37 million from the sale of two sets of golf course memberships, it said

Hsinyutai’s assets include five plots of land in Taipei’s Zhongzheng District (中正), bank savings of NT$2.07 million, and shares in Central Motion Picture Corp worth NT$6.51 million, the committee said.

It also found that the KMT in 2012 bought 390,000 Hon Hai Precision Industry Co shares worth NT$33 million.

Former president Ma Ying-jeou’s (馬英九) office on Tuesday confirmed that Hon Hai chairman Terry Gou (郭台銘) donated to the Ma Ying-jeou Foundation.

While the office did not reveal the amount, sources said that Gou earlier this month pledged 850 Hon Hai shares worth about NT$60 million.

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