Mon, Aug 20, 2018 - Page 16 News List

TLDC to auction off Shilin plot in bid to diversify

By Crystal Hsu  /  Staff reporter

Taiwan Land Development Corp (TLDC, 台灣土地開發) plans to auction off land in Taipei’s Shilin District (士林) next quarter as part of a plan to revitalize idle assets and boost financial performance, company chairman Chiu Fu-sheng (邱復生) told a media briefing on Friday.

The sale, slated for next month or October, is part of the Taipei-based company’s bid to transform and diversify its income sources, Chiu said.

The 485.46 ping (1,604.83m2) plot on Zhishan Road, which would be ideal to develop into a mixed-used complex to capitalize on its proximity to the Chinese Culture and Movie Center and National Palace Museum, used to be a photography studio, Chiu said.

The company, which is known as Taikai Group (台開集團) overseas, has not yet set a price for the plot, as it is still being evaluated, he said.

TLDC last month acquired regulatory approval to turn a hillside in Hsinchu County’s Sinpu Township (新埔) into a tourist farm.

In January, it finished construction on a Taoist temple in the complex, the first phase of a venture that is to include hotel rooms, retail space, villas and serviced apartments.

Chiu said the company also plans to build medical facilities focused on treating liver diseases at the complex, as well as at its development projects in Nantou and Hualien counties.

A former liver cancer patient, Chiu said he has learned the importance of health and aims to build environmentally friendly communities where Taiwan’s fast-growing population of older people can enjoy their retirement.

The company’s net profit attributable to the parent company in the first half of the year fell 52.95 percent to NT$147.41 million (US$4.79 million) from a year earlier, with earnings per share of NT$0.2, compared with NT$0.42 in the same period last year, while revenue declined 68.5 percent to NT$199.68 million, the company reported earlier this month.

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