Mon, Jan 01, 2018 - Page 15 News List

Taiwan Business Quick Take

Staff writer

REAL ESTATE

Ting Hsin to sell TFCC stake

Japan’s Itochu Corp on Friday filed an application to the Investment Commission to acquire Ting Hsin International Group’s (頂新集團) entire stake in Taipei Financial Center Corp (TFCC, 台北金融大樓), which operates the Taipei 101 skyscraper. Ting Hsin, which has been plagued by a domestic food scandal that erupted in 2013, plans to sell its 37.2 percent stake in TFCC for US$600 million to the Japanese company, the Chinese-language Liberty Times (sister newspaper of the Taipei Times) reported on Saturday. Ting Hsin said it has chosen the best investor to operate Taipei 101.

ELECTRONICS

King Yuan to boost capacity

Chip packaging and testing services supplier King Yuan Electronics Co (京元電子) on Friday said its board has approved a NT$5.5 billion (US$184.27 million) capital expenditure budget for this year, up 24.43 percent from the NT$4.42 billion spent last year on new facilities and equipment. The budget would be used to boost capacity next year, a company filing with the Taiwan Stock Exchange said. King Yuan plans to use its own capital to fund the capacity expansion plan.

RETAIL

Clevo to sell store to mall

Contract notebook computer maker Clevo Co (藍天電腦) on Thursday said its China-based retail chain faces significant pressure as physical stores have been negatively affected by the rise of e-commerce. Clevo said it plans to sell Wuhan Buynow (武漢百腦匯) to Wuhan Chicony Shopping Mall (武漢群光百貨), which is in the same group with Clevo, for a disposal gain of US$5.06 million. The company said the gains would contribute earnings per share of about NT$1.53 for last year.

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