Date: Aug 08, 2015
By: Ted Chen / Staff reporter
SinoPac Financial Holdings Co’s (永豐金控) capital leasing unit is to spearhead efforts to tap into other Asian markets as Taiwanese businesses migrate away from China due to a higher risk profile and growing uncertainty over economic policy there, the company said yesterday.
The company’s plans to reach out to other parts of the region reflects its plans to leverage its strategic alliance with the Industrial and Commercial Bank of China Ltd (ICBC, 中國工商銀行) in participating in a Beijing infrastructural project initiative for Southeast Asia, as investment opportunities shrink in Taiwan, SinoPacFinancial Holdings said.
“Taiwanese businesses operating abroad have begun migrating to Vietnam, Cambodia, Laos and Myanmar, with some exploring opportunities in India, while investments in Taiwan have virtually come to a standstill,” SinoPac Financial Holdings president Yu Kuo-chih (游國治) told an investors’ conference. [FULL STORY]