( CNN ) -- Typhoon Morakot bore down on Taiwan Friday , packing 89 mph ( 143 kph ) winds and threatening to soak the entire island when it makes landfall Saturday morning , Taiwan 's Central Weather Bureau said . A man fights against strong winds in Hsintien , Taipei county , Taiwan , on Friday . As of 10 a.m. Friday ( 2 a.m. GMT ) , wind gusts were reaching 112 mph , and Morakot , a medium-strength typhoon , was moving west-northwest at 14 mph en route to landfall , the agency said . Already , mudslides and landslides were occurring on the land , as airlines canceled flights , and government offices , schools and the Taiwan Stock Exchange closed for the day , according to Taiwan 's Central News Agency . The storm was centered about 124 miles ( 200 km ) southeast of Taipei and could wind up directly over the capital , said CNN meteorologist Kevin Corriveau . He predicted its impact would be massive . `` This storm has already dumped about 400 millimeters ( 16 inches ) of rain in the central and southern part of the island , and they 're still expecting another 500 ( 20 inches ) to 800 millimeters ( 32 inches ) of rain over the next 24 to 48 hours , '' he said . Watch how the storm is affecting life on the island » . Drought in recent months has severely affected the area , leaving the ground so hard that it can not absorb the rainfall , Corriveau said . However , the island tends to prepare well for typhoons , Corriveau added . `` They take it very seriously , '' Corriveau said . `` Just like Cuba is very good at handling hurricanes , Taiwan is very good at handling typhoons . '' On Thursday , Taiwanese Premier Liu Chao-shiuan examined the island 's emergency operation center and asked all personnel to stay on high alert over the next day , with the typhoon forecast to `` affect all regions of Taiwan , '' according to CNA . Taiwan and eastern China are particularly vulnerable to flash flooding and mudslides because of the proximity of the mountains to the sea . Once it hits land , Morakot is expected to weaken to tropical storm strength , the Central Weather Bureau reported .
NEW : Storm 124 miles ( about 200 km ) southeast of Taiwan , CNN meteorologist says . NEW : Mudslides and landslides occur already Friday 2 a.m. GMT . NEW : Airlines cancel flights ; schools , government offices , stock exchange closed . Taipei is vulnerable to flash flooding , mudslides because mountains are near sea .