Donations flow in from NGOs, business sector for quake relief

The local business sector and some non-governmental organizations have been donating hundreds of millions of Taiwan dollars for relief and reconstruction since a deadly earthquake struck in the south of the country early Saturday.

The 6.4-magnitude quake hit southern Taiwan at 3:57 a.m., killing 12 people and injuring more than 400 as several buildings collapsed, mainly in Tainan City. Lin Rung San Foundation of Culture and Social Welfare expressed condolences to the victims and said it will donate NT$100 million (US$2.99 million) to the relief and recovery efforts.

The foundation, set up by Liberty Times' late founder Lin Rung San, said his priorities were the development of Taiwan society and advancement of freedom, which was why it was making the donation toward reconstruction.

Formosa Plastics Corp., one of Taiwan's leading petrochemical suppliers, said it was giving NT$50 million in hopes that the financial assistance will help speed up the relief efforts.

U.S.-based Franklin Templeton Investments has made a donation of NT$20 million to help quake victims. The mutual fund group said it established a footing in Taiwan about 25 years ago and wants to assist people in the aftermath of the quake.

Yuanta Financial Holding Co., one of the leading financial holding companies in Taiwan, has teamed up with Ta Chong Bank to donate NT$20 million to the Tainan City government.

The Taiwan Stock Exchange, Taiwan Futures Exchange, Taipei Exchange, and Taiwan Depository & Clearing Corp. have jointly pledged a donation of NT$20 million to the relief efforts.

Several other enterprises, including I-Mei Foods, China Airlines, Shin Kong Financial Holding Co., computer maker Quanta Computer Inc., and container shipper Wan Hai Lines have made donations.