Chunghwa Telecom Co (
The telecom operator's announcement came about a month ahead of a new large-scale sale of around 800 million common shares primarily in the US. After the sale, the government's holding will drop to 34 percent from the current 42 percent.
Chunghwa Telecom said it planned to build a hotel in the popular sight-seeing resort of Kenting in southern Taiwan and an apartment building in the suburbs of Taipei in partnership with local hotel operator Leader Hotel Consultant Co (立德旅館) and construction firm Kindom Construction Co (冠德建設).
"These projects will boost Chunghwa Telecom's revenues and profits after construction is completed in 2009," Chugnhwa Telecom Chairman Hochen Tan (賀陳旦) said in a statement.
The revitalization programs would add a combined total of approximately NT$1 billion (US$30.38 million) to the telecom company's revenue in 2009, while Chunghwa Telecom would spend less than NT$100 million without calculating the 1,756 ping of land it offered, Hochen told reporters yesterday.
Chunghwa Telecom's projected revenues for this year would rise less than 0.5 percent to NT$184.2 billion from NT$183.38 billion last year, while net income would drop 0.7 percent to NT$44.24 billion from NT$47.65 billion during the same period.
Chunghwa Telecom is set to sign agreements with the companies within a month after details are finalized. The 54-room hotel is slated to start operation in 2008 one year earlier than the completion of the apartment building comprising 240 units. Leader Hotel will operate the hotel for an initial period of 20 years following its completion.
Chunghwa Telecom planned to unveil two more housing development projects in the next quarter involving 4,300 pings of land in northern and central Taiwan and two more next year in partnership with local construction firms
The phone company owns more than 400 hectares of idle land around the nation with one tenth of it located in downtown districts or sight-seeing areas.
Last year, Chunghwa Telecom generated NT$270 million in revenue by developing its underused real estate.
The company said the figure would be even higher this year without giving a specific forecast.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS