FSC rethinks face value limit
The Financial Supervisory Commission (FSC) is studying the possibility of lifting the stock face value limit, which currently stands at NT$10. FSC Chairman William Tseng (曾銘宗) on Wednesday said that capital markets need to give participants leeway to raise funds and that the plan to scrap the minimum face value is expected to provide the market with flexibility. Since foreign companies that launch primary listings on the local market are not required to adhere to the minimum face value rule, Tseng said the move to lift the restriction would end the current dual-track regulations. If passed, the plan would take effect by the end of December at the earliest, he said.
Taroko to expand to China
Taiwanese business group Taroko (大魯閣) on Wednesday said it will expand its entertainment and recreation business to the Chinese city of Suzhou in a joint venture with Japan-based retailer AEON Group. The partnership involves AEON offering competitively priced rent in its China outlet stores to Taroko, a group which started in 1982 in the textile industry and is now best known for its go-kart and baseball recreational facilities. The first of four planned entertainment centers will offer Chinese customers everything from bowling to dining in a 45,000 ping (148,800m2) space, according to Taroko.