Although Japan and the Republic of Korea continue to be the two largest Asian ABS markets, with the implementation of The Financial Assets Securitization Law of June 2002, some say that Taiwan could soon become a serious contender for third place.

Andy Lai, managing director and head of the financial engineering group at Societe Generale, which completed the first deal out of Taiwan, says that approximately 10 lead mandates have already been awarded. Further, he adds, Taiwan could be poised to take a larger share of the overall Asian market this year, especially as Korean deal flow seems to be declining versus previous years.

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