The financially troubled Idee Department Store (衣蝶百貨) yesterday said it would postpone its planned auction tomorrow to April 18 as trademark and rental problems persist.
"One of the main problems for Idee is that our potential buyers feel that the rent is too high, which they considered to be cost-ineffective," the retailer's public relations manager Rebecca Ouyang (
In addition to the higher rent, China Rebar Co (
"As Idee's brand name and rent issues have lowered our potential buyers' willingness to bid in the next auction, China Rebar decided to postpone the date of the auction to April 18 so that the company has more time to resolve these uncertainties," it said.
Mega International filed with the District Court to impound Idee's brand name on Nov. 6 last year after China Rebar failed to pay off debt.
On Feb. 18, Idee shareholders approved a reduction in the minimum bidding price from the original NT$1.8 billion (US$58.54 million) to NT$705 million in an attempt to speed up the transfer of Idee's ownership to a new buyer.
The new floor bidding price matched the offer made by the sole bidder, Taipei-based Shinkong Synthetic Fibers Corp, (新光合成纖維) at Idee's last auction on Nov. 26.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
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