The "Taipei Gemini Development Case (Special Dedicated Area C1?D1)" was confirmed yesterday (27th) by a team consisting of Hong Kong Commercial Nanhai Development Co., Ltd. and Malaysian Maarten Co., Ltd., but was questioned for the case of land capital. The clarifications of the Department are as follows:
1. Hong Kong Commercial Nanhai Development Co., Ltd. is a 100% owned company of Nanhai Holding Co., Ltd., and Nanhai Holdings is a company listed by Bermuda in Hong Kong. Nanhai Development Co., Ltd. applied to establish a branch office in Taiwan. It was approved and registered by the Central Office of the Ministry on August 29, 2007. According to the ownership structure at the time, there is no evidence that Nanhai Development Company is a land-based company.
2. Nanhai Holdings also applied to invest in the establishment of Taiwan Nanhai Holdings Co., Ltd. on December 4, 2007. The investment review meeting of the headquarters has sent the case information and the company's shareholding structure to the MAC and the National Security Bureau for review. After the relevant opinions are replied, they shall be handled in accordance with the Foreign Investment Regulations and the Cross-Strait People's Relations Regulations.
3. Taipei Gemini, another joint bidder of Malaysian Martton Co., Ltd., has not accepted the application. In the future, the application for investment will be submitted to the MAC and the National Security Bureau and other relevant units for review, in accordance with the Foreign Investment Regulations and the Cross-Strait People Relations Regulations.
Source: Ministry of Economic Affairs R.O.C