Citi Property Investors (CPI) Asia Pacific has secured a NT$7.2 billion (US$223.1 million) syndicated loan from seven banks, the loan's leading bank Taiwan Cooperative Bank (合作金庫) said yesterday.
The syndicated loan will make up nearly 80 percent of the real estate private equity investor's reported NT$9.2 billion capital injection needed for it to invest in three office buildings in Neihu.
CPI refused to comment on the pact that Taiwan Cooperative president Chen An-hsiung (陳安雄) inked with CPI's executive vice president Aron Chan (詹偉立) during a closed-door meeting yesterday morning.
The agreement says that state-run Taiwan Cooperative, Land Bank of Taiwan (土銀) and Taiwan Business Bank (台企銀) will each give NT$2 billion while Shin Kong Bank (新光銀行), Shanghai Commercial & Savings Bank (上海商銀), the Agricultural Bank of Taiwan (農業金庫) and the Chang Hwa Bank (彰化銀行) will give a total of NT$1.2 billion.
The loan would be collateralized by CPI's three office buildings and have an interest rate of about 3.2 percent, Taiwan Cooperative said.
Local media reported that Chan has said Taiwan's commercial properties are under-priced, have a great potential for profit and that his private equity fund will be making investments in the Taiwanese market in the future.
CPI plans to raise US$3 billion in the near future, more than 20 percent of which will be injected into the property market, reports said.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS