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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Taiwan aims to rule on AIG unit's deal by June AFP - Friday, March 12 Send IM Story Print Taiwan aims to rule on AIG unit's deal by June TAIPEI (AFP) - – Taiwan aims to make a decision by the end of June on the controversial sale of the local unit of American International Group (AIG) to a Hong Kong consortium, a top economic official said Thursday. Deputy economic minister Hwang Jung-chiou also told a parliamentary briefing that an initial review showed the bid for Nan Shan Life Insurance was not backed by Chinese capital, as feared by many on the island. "The documents showed there was no Chinese investor involved... The Investment Commission would have rejected it if there were," he said, adding the ministry will further examine the source of its funding. Hong Kong-based China Strategic Holdings and Primus Financial Holdings acquired Nan Shan Life from AIG for 2.15 billion dollars in October, pending approval from Taiwan authorities. But the deal has been in limbo since November when China Strategic announced a plan to sell a 30 percent stake in Nan Shan to Taipei-based Chinatrust Financial Holding Co. Rumours also surfaced late last year that Chinese capital was involved in the deal -- claims that the consortium has repeatedly denied. Taiwan has partially lifted a decade-old ban on Chinese investment amid improving ties after President Ma Ying-jeou took office in 2008 on a China-friendly platform. However, the government still imposes various restrictions in key sectors such as finance, flat-panel technology and telecommunications as it seeks to keep control of its economy. -- Dow Jones Newswires contributed to this story -- Recommend Send IM Story Print Related Articles In trade speech, Obama presses China on currency Reuters - 38 minutes ago Caterpillar might build excavator facility in U.S. Reuters - 41 minutes ago US-BUSINESS Summary Reuters - 46 minutes ago EADS to cut bonuses, not jobs after A400M: exec Reuters - 47 minutes ago US STOCKS-Markets fall after jobless data, China CPI Reuters - 47 minutes ago News Search Top Stories Mexican Carlos Slim world's richest in new ranking BP wins foothold in Brazil with $7 bln deal BP to pay $7 bln for Devon Energy assets Independent body to review climate panel California outlet accused of serving whale sushi More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended 'Britain's Fritzl' raped daughters for over 25yrs Mexican Carlos Slim world's richest in new ranking US honors first women Air Force pilots Researchers back cancer-fighting properties of papaya California outlet accused of serving whale sushi More Most Viewed » Chile quake moved Earth's axis, shortened days: scientist Experts confirm asteroid wiped out the dinosaurs Florida killer whale to stay in park after deadly attack Common weed-killer chemically castrates frogs: study Australia police search anti-whaler ship at Japan request More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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