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Taiwan against IOI Properties' purchase of Taipei 101

Malaysian firm's attempt to buy 37.17% stake in national landmark to draw "strict review" from Investment commission

Published Mon, Dec 8, 2014 · 09:50 PM

Kuala Lumpur

TAIWAN has indicated that it is not keen on the idea of Malaysia's IOI Properties Group (IOIPG) being a large co-owner of the iconic Taipei 101 because it is a national symbol.

According to a Reuters report, Finance Minister Chang Sheng-ford on Monday said that foreigners ought not to control the national landmark, while its investment committee hinted at a stringent approach to IOIPG's application to buy a 37.17 per cent stake in the tower.

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