Taiwan’s Kavalan woos global whiskey aficionados

Single malt whiskeys made by Kavalan Distillery in Taiwan’s northeastern Yilan County recently claimed top honors in two of the most prestigious liquor competitions in the world.

Kavalan Solist Amontillado Sherry Single Cask Strength was named the best of its kind at the World Whiskies Awards held March 17 in London. Four other Solist series whiskeys were double-gold winners in the San Francisco World Spirits Competition later in the month, with Moscatel Sherry Cask earning the Best Other Whisky of the year award.

Last year, Kavalan Vinho Barrique surprised whiskey aficionados worldwide after bagging the distillery’s first WWA honor. A flurry of international media attention followed, including the Time magazine article “You Won’t Believe Where the World’s Best Whiskey Comes From.”

Lee Yu-ting, president of Kavalan’s parent company King Car Group, said back-to-back WWA honors are a great accomplishment for the distillery. “After just 10 years in business, we have made a big splash in a business dominated by long-standing Scottish, Canadian and Japanese outfits.

“The secret of our critically acclaimed single malt whiskeys is Yilan’s clean environment, pristine water and seasonal temperature variations.”

According to Lee, what really makes Kavalan stand out is a commitment to quality and willingness to put its products to the test on the global stage. “Our latest accolades are testament to this open and progressive philosophy,” he said.

Established in 2006 as Taiwan’s first whiskey distillery, Kavalan is named after the aboriginal tribe residing in Yilan prior to large-scale Han immigration in the 18th century. The distillery’s offerings have won 181 golds in global competitions to date, and are available in 38 markets across Asia, Europe and North America.

Source: Taiwan Today

International Reserves of Bank Negara Malaysia as at 31 March 2016

The international reserves of Bank Negara Malaysia amounted to RM381.6 billion (equivalent to USD97.0 billion) as at 31 March 2016. The decline in reserves level in ringgit terms as at 31 March 2016 was mainly due to the quarterly adjustment for foreign exchange revaluation changes following the strengthening of ringgit against various currencies during the first quarter. The reserves position is sufficient to finance 8.0 months of retained imports and is 1.1 times the short-term external debt[1].

[1]Refers to the redefined short-term external debt, which includes short-term offshore borrowing, non-resident holdings of short-term ringgit debt securities, non-resident deposits with the banking system and other short-term debt. For more information, please refer to the box article titled ‘The Redefinition of External Debt’ in the Quarterly Bulletin on Economic and Financial Developments in the Malaysian Economy in the First Quarter of 2014.

Source: Bank Negara Malaysia