Taishin Financial Holding Co (台新金控) and Test Rite Inter-national Co (特力集團) yesterday heralded the success of their joint effort to securitize a Test Rite office building -- Time Plaza (美孚時代通商大樓) -- on Chunghsiao E. Rd.
"We've successfully located over 30 institutional investors, who agreed to put down investments in the upcoming issuance of NT$600 million-worth of beneficiary shares backed by the building," Justin Tsai (蔡榮棟), general manager of Taishin Financial's wholesale banking group, told a press conference yesterday.
Test Rite chairman Tony Ho (何湯雄) said he expected to see a capital income of NT$120 million after the securities deal is completed.
The bank's securitization plan, slated to launch in June, is the first property-backed securitization project targeting pre-sold housing units, Taishin chairman Thomas Wu (吳東亮) said.
Taishin will submit an application to the Ministry of Finance for approval in mid-April, Wu said.
According to Tsai, the building's eighth, 10th, 14th, 17th and 18th floors measure a total of 1,445 ping, yielding an annual rental of NT$34 million. The building's third and fourth basement floors also have 18 highly marketable parking spaces.
With a possible yield rate of between 3 and 5 percent, the seven-year beneficiary share deal was very attractive to its bank clients, Tsai said.
Expecting to make a profit out of the deal, Tsai said the bank may curtain the deal's issuance duration from seven years to between two to three years.
Taishin plans to launch more deals in the second half of the year since its subsidiary companies own a total of NT$20 billion-worth of commercial buildings, according to the company's statement.
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
As they zigzagged from one machine to another in the searing African sun, the workers were covered in black soot. However, the charcoal they were making is known as “green,” and backers hope it can save impoverished Chad from rampant deforestation. Chad, a vast, landlocked country of 19 million people perched at the crossroads of north and central Africa, is steadily turning to desert. It has lost more than 90 percent of its forest cover since the 1970s, hit by climate change and overexploitation of trees for household uses such as cooking, officials say. “Green charcoal” aims to protect what
RSS