Financial health worry

PUBLISHED : Friday, 13 October, 1995, 12:00am
UPDATED : Friday, 13 October, 1995, 12:00am

WORRIES over Taiwan's financial health resurfaced yesterday as an executive at a major textile firm confessed to embezzlement, and disturbing loan statistics emerged from credit unions.

Lee Feng-teh, an assistant finance manager at Tainan Spinning, said he embezzled NT$760 million (about HK$215.84 million) of the firm's money for stock market speculation.

Hard on the heels of that news, official figures showed that at the end of June, 63 of 385 regional banking units had an overdue loan ratio above five per cent.