Taiwan to introduce AMCs to rescue bad debt problems
Foreign investors will soon be allowed to set up asset management companies to deal with Taiwan''s bad debt problems.
The Taiwan government has vowed to release new rules in three months for the setting up of asset management companies (AMCs) in a bid to clean up the banking sector's mounting bad debt problem.Foreign companies will be "welcome" to set up AMCs, says Vice Finance Minister Yen ching-chang, adding that it will be an "absolutely profitable" business. The initial capital required is estimated to be between NT$20 billion and NT$30 billion.Yen says AMCs will not be restricted to the restruct…
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