President of PE-backed Taishin Financial feared dead after fall

According to The Taipei Times, a helicopter rescue team from the National Airborne Service Corps (NASC) has been unable to reach Lin, 52, since its deployment yesterday morning. Search and rescue crews have resorted to climbing down the steep cliff on foot, NASC said. The group would not confirm domestic broadcast reports that Lin's body had been located and "appeared lifeless."

Lin fell at around 9 p.m. on Wednesday. Two friends who had joined him on the climb alerted the Yilan County Fire Bureau.

The China Post adds that the particular stretch where Lin fell - dubbed an "ancient mountain road" - was rarely used by hikers. Lin is said to be an avid mountain climber, and has written a novel set in the Nanao mountains, where he went missing.

Lin became president of Taishin Financial in January 2007, and additionally acts as the group's chief economist. Taishin has NT$780 million ($26.84 million) assets under management, with subsidiaries in the areas of banking, securities, asset management and venture capital. Shares in the company declined 0.73% to NT$13.65 Thursday after news of Lin's disappearance was announced, the Times reported.

Newbridge Capital invested NT$27 billion (then $844 million) in Taishin in February 2006. That investment was matched by a NT$4 billion commitment by Nomura.

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• Topics
• Greater China
• Financing
• Newbridge Capital