KMT declares cash assets of NT$430 million

Taipei--The opposition Kuomintang (KMT) on Wednesday submitted a financial statement to the Ill-gotten Party Assets Settlement Committee, showing assets of NT$430 million in cash and 273 properties.

In the statement, which was valid as of the end of 2016, the party also declared liabilities of NT$7.8 billion, according to KMT Administration and Management Committee Director Chiu Da-chan (???), who is in charge of managing the party's assets.

The financial statement was submitted in compliance with the committee's mandate, which is to investigate, retroactively confiscate, and return or restore to the rightful owners all assets obtained by the KMT and its affiliated organizations since 1945.

Chiu said the KMT is willing to declare all of its assets but the process is complicated because there is missing data, particularly for the period between 1935 and 1949, the year after the KMT fled to Taiwan from China.

For example, many properties were managed by third parties at that time, he said, adding that records dating back 70 years can be difficult to access.

Chiu suggested that the committee seek to obtain property transaction information directly from the local land offices.

The financial statement submitted by the KMT showed that as of end 2016, it had 147 plots of land and another 126 real estate properties, along with total cash assets of NT$430 million.

The committee was set up by the Cabinet in August 2016 under the terms of the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations, which was passed by the Legislature in July that year.

The committee is examining KMT assets obtained after August 15, 1945, when Japan handed over control of Taiwan to the Republic of China, which was governed by the KMT at the time.

Source: Focus Taiwan News Channel