Taipei Times
Date: Sep 03, 2018
By: Chen Yu-fu and William Hetherington  /  Staff reporter, with staff writer

The Ill-gotten Party Assets Settlement Committee has blocked an attempt by the Chinese Nationalist Party (KMT) to sell a hotel it owns in Palau, the committee said.

The party hoped to sell the Palasia Hotel Palau to raise campaign funds for the November nine-in-one elections, but the committee sent a member to Palau to block the sale, it said, adding that it would use the property to strengthen Taiwan-Palau ties.

The hotel was built by the KMT through the Central Investment Co (中央投資公司), which the committee identified as a KMT affiliate in November 2016.

The hotel last month marked its 20th anniversary and the Central Investment Co sent people to sell off its shares under the pretense of joining the anniversary celebrations, the committee said.    [FULL  STORY]