Assets committee releases appraisal of KMT assets

Taipei Times
Date: Jul 23, 2018
By: Chen Yu-fu and William Hetherington  /  Staff reporter, with staff writer

Chinese Nationalist Party (KMT)-affiliated Central Investment Co accumulated

Chinese Nationalist Party (KMT) headquarters in Taipei are pictured on May 31.  Photo: Chien Jung-fong, Taipei Times

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.  [FULL  STORY]

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