To make real estate securitization funds more transparent, the Financial Supervisory Commission (FSC) is amending investment prospectus guidelines to require that more information about fund promoters and their investment plans be disclosed.
The commission said the amended guidelines would stipulate that the content of investment statements should not be false or hide the truth.
The amendment would also require that promoters of real estate investment trusts (REIT), the property owners of real estate asset trusts (REAT), their authorized agents and the heads of the real estate management companies involved should have joint liability for losses incurred by other parties.
Information about fund promoters and organizations, such as an introduction and operating summary of the organization, should be clearly disclosed in their investment prospectus, the FSC said.
In addition, an REIT fund should disclose specifics about its investment plan, including investment type, property location, financial projections and expected investment returns.
If an REIT has a specific investment target, the land size and category of the investment target should also be disclosed.
The guidelines also require that an REAT fund, if it involves “developmental” real estate or real-estate-related rights, disclose its investment type, location, market analysis and feasibility study.
In January last year, the legislature passed an amendment to the Real Estate Securitization Act (不動產證券化條例) expanding the options for securitizing real estate.
The amendment allows “developmental” real estate and real-estate-related rights to be securitized, and also enhances investors’ protection, promotes the development of real estate securitization and simplifies administrative procedures for securitization.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day