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Goldman Sachs to hold cross-strait business summit in Taiwan
2010/03/12 14:29:36
Taipei, March 12 (CNA) Goldman Sachs, the global investment banking and securities firm, is scheduled to hold a cross-Taiwan Strait technology summit March 22 in Taipei that will bring together CEOs and heads of heavyweight technology companies in Taiwan and China, a spokeswoman for the company's Taipei office said Friday.

The forum, an unprecedented event by the company in Taiwan, could be seen as illustrating the increasing importance the investment company attaches to the Taiwanese bourse's status in the greater China equity market, according to a report carried Friday in local daily the Commercial Times.

Expected to attend the summit are the heads and CEOs of six leading Taiwanese technology companies -- Morris Chang, chairman and CEO of Taiwan Semiconductor Manufacturing Co.; Cher Wang, chairwoman of mobile-phone maker HTC Corp.; J.T. Wang, chairman and CEO of Acer; Tsai Ming-kai, chairman of Taiwan's largest fabless IC design house MediaTek; LCD maker AU Optronics Chairman K.Y. Lee; and Jason Chang, chairman and CEO of ASE Group, which specializes in IC packaging and testing.

Hou Weigui, chairman of Chinese mobile phone maker Shenzhen Zhongxingxin Telecommunications Equipment Co.; Beijing Tianyu Communication Equipment Co. President Rong Xiuli; and Lee Kaifu, chairman of Innovation Works in China, will also be invited to attend the forum, according to the report, which was later confirmed by the spokeswoman.

In addition, some 100 major foreign institutional investors, including Capital, Fidelity, Schroders, JF, Wellinghton, and Morgan Stanley, which manage combined securities assets of about US$100 billion, will be invited to attend the forum, which is expected to spur another wave of inflow of foreign funds into Taiwan's stock market, according to the report.

The institutional investors, some of which are shareholders in the nine technology firms, will exchange views with the company heads on their operation directions in the coming decade, the report said.

As international institutional investors are very concerned about a proposed economic cooperation framework agreement between Taiwan and China that is likely to be signed later this year, Goldman Sachs will invite Chiang Pin-kung, chairman of Taiwan's Straits Exchange Foundation (SEF) , the semi-official body responsible for holding talks with China, to give a keynote speech on the issue during the forum, according to the spokeswoman.

New York-headquartered Goldman Sachs, which opened its Taipei office 10 years ago, decided to expand its investment in Taiwan's equity market last September and appointed Chang Hsi-lin as president for the Taiwan region. (By Y.L. Kao) ENDITEM/J

http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?Type=aALL&ID=201003120016