Taiwan's Ministry of Finance has adopted a more supportive stance toward mergers among public-sector financial institutions, saying it holds an open attitude and encouraging state-influenced lenders to evaluate consolidation based on market mechanisms, stakeholder consensus and synergies. At a Legislative Yuan Finance Committee hearing on the 12th, Waterland Financial Holdings Chairman Chang Chao-shun said his company will ultimately need to merge because its scale is too small to remain independent long term, but argued it should first improve corporate governance and operations so it is viewed as an attractive partner rather than a "rotten apple."