Vintage Silver Plate Oval Rope Edge Engraved Oval Links Chain Belt. It's difficult to date it but it doesn't seem very old judging by the clasp closure on it - but it is lovely quality.
The tag indicates Taiwan and M - it could be the M is for the size - medium rather than being a maker. Measures 31" to the first link closure and 38" to the last link closure.
Individual links are 46mm X 30mm. Very Good Pre-Vintage Pre-owned condition - looks hardly worn.