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Taiwan exposure to Dubai totals NT$32 bln

2009-12-02 13:39 BJT

Special Report: Dubai Debt Crisis |

Taiwan may have to deal with some fallout from Dubai World's standstill on paying back debt. The island's financial institutions have confirmed a total of 32 billion New Taiwan dollars in exposure, including loans, from the troubled Dubai conglomerate.

According to the latest tallies from the financial supervisory commission, 9 financial institutions are the most exposed. On that list are Mega Financial Holdings, Cathay Financial Holdings, and Taiwan Financial Holdings, which includes the Bank of Taiwan and the Land Bank of Taiwan.

However, Taiwan's financial authority says the current situation is manageable, adding that problematic credit was issued before the start of the financial crisis, and that institutions have been more cautious since then.

On a separate note, securities companies and the investment trust sector have about 77 million New Taiwan dollars in exposure, although their level of risk is considered less pressing. While Taiwan's insurance sector has confirmed it has no exposure at all.

Editor: Xiong Qu | Source: