Annulled ambitions: construction scandal jolts Taiwan government

Article Abstract:

Taiwanese authorities are investigating a scandal involving Chinese Petroleum Corp, Taiwan's government-owned oil company, and Brown & Root International, a construction company based in Houston, TX. In 1991 Chinese Petroleum signed a $173 million contract with Brown & Root for the building of a waste water treatment facility. Chinese Petroleum canceled this contract on Jun 1, 1993 because Brown & Root was not on time and had broken the agreement by hiring a subcontractor. The promised investigation may undermine Taiwan's government by revealing corrupt practices in the awarding of contracts.

Industrial buildings and warehouses, Engineering services, Construction industry, Investigations, Petroleum industry, Crime, Chinese Petroleum Corp., Brown & Root Inc.

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Still unscathed

Article Abstract:

Taiwan's electronics companies still represent an attractive investment opportunity, even though their growth in sales will be restricted in 1998 by the economic decline in Asia. Taiwanese electronics products are mainly exported to Europe and the US, so manufacturers do not rely heavily on local markets. Stocks continuing to show potential include Honhai Precision Industry, Compeq Manufacturing and Asustek. It is also worth considering lower-technology companies such as Phoenixtec.

Other Electrical Equipment and Component Manufacturing, Electronics, Electronic Components and Accessories, Electronics industry

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