Taiwan boosts investment

Taiwan boosts investment

TAIPEI (AFP): Taiwan is to invest T$20 billion (US$618.7
million) in Southeast Asia, mainly in Malaysia, following a visit
by Taiwan Vice President Lien Chan to Kuala Lumpur last week, a
business group leader said in remarks published yesterday.

"We prepare to form an investment company capitalized at 20
billion Taiwan dollars," said Liu Tai-ying, chairman of the
ruling Kuomintang's powerful business unit.

Some $100 million may go to the Malaysian stock market, while
the rest of the fund allocation is yet to be decided, he was
quoted as saying by United Daily News.

"Malaysia is more stable than other Southeast Asian countries
and it is an investment market," CDC spokeswoman Grace Fang said.
Liu is also the chairman of CDC, which coordinates the
establishment of the planned holding company.

Other than CDC, about 10 leading companies were expected to
chip in, including Shin Kong Life Insurance, Fubon Insurance,
China Steel, Winbond Electronics Corp. and KMT-affiliated
companies, the newspaper report said.