Report: Taiwanese trader abducted in Valenzuela

A Taiwanese trader has been abducted in northern Metro Manila, with the kidnappers demanding P20 million in ransom, a Taiwanese news site reported Saturday. Taiwan's Central News Agency (CNA) cited Philippine National Police information identifying the victim only by his surname, Chang. It said the incident occurred last Wednesday when four gunmen broke into his office, with three of them tying up the employees and the fourth suspect forcing Chang into a car. Chang runs a textile company in Valenzuela City, the report said. The CNA report said the suspects cut the power of the monitoring devices and took all the valuables in the office, including a computer and a safe deposit box, before fleeing. But the employees eventually untied themselves and reported the kidnapping to the police. The CNA report said it was not the first time Taiwanese traders were abducted in the Philippines. In 2003, a Taiwanese businessman with surname Wang was abducted in Pampanga province while another one with surname Tsai was abducted in Carmona, Cavite in 2005. A Taiwanese businesswoman, Kao, was abducted in Quezon City in October 2009. The Taiwanese were safely released or rescued by police, the report said. — LBG, GMA News