KMT to take legal action over seizure of businessesTAIPEI--The opposition Kuomintang (KMT) will take legal action against a Cabinet unit's decision to designate the party's two investment companies as "ill-gotten assets" that should be transferred to the state, the KMT's chairwoman said Sunday. Apart from the legal action, the party will not rule out the possibility of staging protests in opposition to the Ill-Gotten Party Assets Settlement Committee's conclusion last week, said Hung Hsiu-chu (洪秀柱) during a KMT founding anniversary celebration in Chiayi County. The two companies have a combined value of NT$15.6 billion (US$494.17 million) and were determined to be KMT-affiliated organizations by the Cabinet committee last week. If the companies are nationalized, the KMT will virtually lose all of its assets, because most of its property, including its headquarters, offices and local chapters and many other KMT-run enterprises are under Central Investment's name. The KMT lost the presidential and legislative elections to the Democratic Progressive Party (DPP) in January, with the DPP gaining a legislative majority for the first time ever.

Source: The China Post November 27, 2016 16:26 UTC