Goldman Sachs (
An asset management company assists the local banking industry in disposing of collateral on problematic loans. Currently the total of such loans in Taiwan's banking industry is estimated to be near NT$1 trillion.
"Goldman Sachs has expressed its intention to establish an asset management company in Taiwan, with preliminary capital of about NT$30 billion," Minister of Finance Yen Ching-chang (顏慶章), said yesterday at the Legislative Yuan.
"Through an arrangement by Chinatrust Commercial Bank (
"The Bureau of Financial Affairs of the Ministry of Finance has set up regulations for asset management companies and other regulations regarding the transfer of collateral on problematic loans by financial institutions that will be included in the draft of the Financial Institution Merger Law (金融機構合併法)," said Yen. "Among the procedures, [is one that states that] when asset management companies dispose of collateral, they do not have to go through the auction procedures in court. Anyone who is interested in setting up an asset management company does not have to worry about it."
"The preliminary capital for the asset management company set up by Goldman Sachs would be about NT$30 billion," Yen said. "If there is a deficiency in operating capital in the future, the foreign headquarters of Goldman Sachs would provide the necessary funds."
South Korea has adjusted its electronic arrival card system to no longer list Taiwan as a part of China, a move that the Ministry of Foreign Affairs said would help facilitate exchanges between the two sides. South Korea previously listed “Taiwan” as “Taiwan (China)” in the drop-down menus of its online arrival card system, where people had to fill out where they came from and their next destination. The ministry had requested South Korea make a revision and said it would change South Korea’s name on Taiwan’s online immigration system from “Republic of Korea” to “Korea (South),” should the issue not be
Tainan, Taipei and New Taipei City recorded the highest fines nationwide for illegal accommodations in the first quarter of this year, with fines issued in the three cities each exceeding NT$7 million (US$220,639), Tourism Administration data showed. Among them, Taipei had the highest number of illegal short-term rental units, with 410. There were 3,280 legally registered hotels nationwide in the first quarter, down by 14 properties, or 0.43 percent, from a year earlier, likely indicating operators exiting the market, the agency said. However, the number of unregistered properties rose to 1,174, including 314 illegal hotels and 860 illegal short-term rental
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ECONOMIC COERCION: Such actions are often inconsistently applied, sometimes resumed, and sometimes just halted, the Presidential Office spokeswoman said The government backs healthy and orderly cross-strait exchanges, but such arrangements should not be made with political conditions attached and never be used as leverage for political maneuvering or partisan agendas, Presidential Office spokeswoman Karen Kuo (郭雅慧) said yesterday. Kuo made the remarks after China earlier in the day announced 10 new “incentive measures” for Taiwan, following a landmark meeting between Chinese President Xi Jinping (習近平) and Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) in Beijing on Friday. The measures, unveiled by China’s Xinhua news agency, include plans to resume individual travel by residents of Shanghai and China’s Fujian
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