Taiwan Regulator: Banks' Exposure To Dubai World Totals NT$6.35 Bln l

Taiwanese banks' and bills finance companies' exposure to Dubai World debt amounts to NT$6.35 billion, (US$196.2 million), mostly in the form of syndicated loans, the Financial Supervisory Commission said in a statement Friday.

Three local investment trusts invested NT$76 million in Dubai World while local insurance companies haven't invested in Dubai World, the financial regulator said in the statement.

Dubai World, a state-run conglomerate with interests in property and financial services, said Wednesday it would ask creditors for a six-month standstill on debt repayments.

Read Full Article from Wall Street Journal

- Posted: 2009-11-27 11:15:28

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