Wed, Aug 01, 2012 - Page 13 News List

Ministry of Finance receives bids for four out of 12 auctioned plots of land

By Amy Su and Crystal Hsu  /  Staff reporters

The Ministry of Finance yesterday successfully auctioned four land development projects, while eight other land developments attracted no bidders.

Chi Mei Construction Co (吉美建設) acquired two plots of land in Taipei City’s Songshang (松山) and Neihu (內湖) districts respectively.

The construction firm was one of eight interested bidders for the project in Songshang and won by offering a high bid of NT$668.9 million (US$22.29 million), compared with the base price of NT$277.61 million, the ministry said in a statement.

The company bid NT$375.67 million for the plot in Neihu, the ministry’s national property administration said.

The other two projects — one in Taichung and one in Tainan — received successful bids of NT$64.4 million and NT$55.81 million respectively, the release said.

The ministry is set to announce details of 10 more land developments in October, which will be bid on in the near future, with most of them for commercial use.

Meanwhile, the nation’s bad loan ratio stood at 0.58 percent at the end of June, down 0.02 percentage point from one month earlier, suggesting further improvement in the quality of assets held by domestic lenders, the Financial Supervisory Commission said yesterday.

Non-performing loans totaled NT$123.1 billion at the end of June, down NT$5.5 billion from May, while overall outstanding loans dropped NT$101.3 billion to NT$22.27 trillion, the commission said.

At the same time, the nation’s coverage ratio rose from 185.36 percent in May to 192.45 percent in June, the commission said, adding that of 38 lenders only one had a bad loan ratio above the 2 percent threshold.

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