IOI faces problems as Taiwan objects to foreign buying of landmark Taipei 101 tower

PETALING JAYA: IOI Properties Group Bhd’s (IOI Prop) planned purchase of a stake in the iconic Taipei 101 could be derailed after the Taiwan Finance Minister objected to foreigners buying a big stake in the landmark tower.

The RM2.74bil (NT$25.14bil) deal, which was announced last Friday, came under government scrutiny after Finance Minister Chang Sheng-ford said the stake should not fall into the hands of foreign investors.