CDC eyes Malaysia's banking

CDC eyes Malaysia's banking

KUALA LUMPUR (AFP): A Taiwanese firm yesterday expressed
interest in investing in Malaysia's banking sector amid the Asian
economic crisis which has sent the once booming economy into a
slowdown.

Finance Minister Anwar Ibrahim was quoted by Bernama news
agency as saying Taiwan's China Development Corporation (CDC) was
keen to participate in specific sectors of the Malaysian economy.

"It was not a general discussion but some very specific
proposals for investment," he said.

Earlier, Anwar, who is also the deputy prime minister met Liu
Tai-ying, who is the chairman of CDC, the largest investment
company of the ruling Kuomintang (KMT).

Liu later told reporters his discussions with Anwar centered
on the issue of liberalizing Malaysia's foreign equity
participation in the banking sector.

"He (Anwar) promised that it will be looked into on a case-to-
case basis," he said.

Liu, is expected to sign US$300 million worth of deals during
the nine-day tour of Thailand, Malaysia, Indonesia, and the
Philippines.