Cathay United selling plot
Cathay United Bank (國泰世華銀行), the banking arm of Cathay Financial Holding Co (國泰金控), has scheduled an auction for next Tuesday to liquidate its collateral office building on Zhongshan N Road in Taipei.
The bank has set a floor price of NT$1.5 billion (US$45.6 million) for the 11-story building, which sits on a 294-ping (971m²) plot of land and with total floor space of approximately 2,600 ping. That represents a price of NT$5.1 million per ping, its exchange filing said on Monday.
The bank said several potential buyers had expressed interest in taking part in the bid, which local realtors said is expected to hike up the closing price to between NT$1.6 billion and NT$1.77 billion, or between NT$5.5 million and NT$6 million per ping.
HTC to launch Android model
HTC Corp (宏達電), which manufactures the world’s first handset running on Google’s Android system, said yesterday it is scheduled to launch a new Android phone early next month in Europe, targeting the mass market.
HTC Tattoo is the company’s third Android-based smartphone following HTC Hero in February and HTC Dream late last year.
The new phone integrates Google’s innovative mobile services, including Google Maps, search, Google Mail and Android market, where users can download thousands of popular applications and games.
It also comes with a variety of hardware features including a 3.2 megapixel auto-focus camera, 3.5mm stereo headset jack and expandable microSD memory.
Sanyang inks deal
China’s leading passenger van maker yesterday signed an agreement with vehicle manufacturer Sanyang Industry (三陽工業) to set up what would be the first cross-strait auto venture, a report said.
Under the “letter of intent,” Xiamen Golden Dragon Van Co (廈門金龍集團) and Sanyang said they would invest “several billion” NT dollars to manufacture buses, other vehicles and parts in Taiwan, the Central News Agency said.
If realized, the deal would mark the first time automakers from China have opened up a new company in Taiwan to tap the global bus market, it said.
The two partners said they were still in talks on details of the joint venture, including on the location of the new plant.
China to issue bonds in HK
China will for the first time issue sovereign yuan-denominated bonds in Hong Kong later this month in an effort to strengthen the territory’s financial status, the country’s finance ministry announced yesterday.
A joint announcement by China and Hong Kong authorities said some 6 billion yuan (US$878 million) in bonds will be issued on Sept. 28.
The decision is aimed at helping Hong Kong develop its yuan trading and promoting its development, the statement said.
“This measure has significant impact on promoting the depth and breadth of the Hong Kong bond market and strengthening Hong Kong’s position as an international financial center,” it said.
NT dollar gains for fourth day
The New Taiwan dollar gained for a fourth day, the longest winning streak in a month, after exports declined less than economists expected last month, spurring investor appetite for stocks.
The NT dollar strengthened 0.3 percent to NT$32.760 versus the greenback as of the 4pm close, Taipei Forex Inc said.
The currency earlier touched NT$32.730, the highest level since Aug. 10.
Volume traded reached US$1.3 billion, the most since June 2.
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