Land Bank of Taiwan (土地銀行) yesterday auctioned off its collateralized Zhongshan office building, originally owned by Shin Kong Life Insurance Co (新光人壽), to Mega International Commercial Bank (兆豐商銀) for NT$3.802 billion (US$111.8 million).
The closing price represented a 15.5 percent premium on the bank’s floor price of NT$3.293 billion, which could be a good sign for the market for office and commercial buildings with steady rental incomes.
After winning yesterday’s bid, Mega International said it believed the deal would be worthwhile once 95 percent of its floor space has been rented, generating an annualized 4.5 percent return through rent.
Charlie Yang (楊長達), director of real estate appraisal for DTZ, had estimated that the building’s floor space had a market value of NT$3.658 billion.
The liquidation will be used to repay a NT$2.83 billion five-year real estate asset trust (REAT) that was issued to institutional investors and is expected to mature in January, Land Bank of Taiwan said.
The deal will generate a capital gain of NT$544 million for Shin Kong, since the life insurer owns 56 percent of the REATs.
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
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
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
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