Chunghwa Telecom Co (中華電信), the nation's largest telecoms operator, yesterday said it plans to spend NT$5 billion (US$151 million) on setting up a property development and management subsidiary to revitalize 410 hectares of idle properties in light of a slowing telecoms industry.
The board rubber-stamped the proposal on Tuesday night, taking their cue from Asian peer NTT DoCoMo Ltd.
The Japanese telecoms operator is ranked the No. 4 property developer in Japan.
Shares of Chunghwa Telecom rallied 2.92 percent to NT$56.40 yesterday, defying the TAIEX's 0.97 percent loss.
"The company is looking to recruit talent to run the land development and property management business so as to maximize its asset value," Chunghwa Telecom said in a statement.
The cost of the investment would amount to NT$5 billion, the Chinese-language Economic Daily News said, quoting a company official.
Chunghwa Telecom said it is willing to working with other property developers.
Approximately one-tenth of the plots Chunghwa owns are located in downtown districts or sightseeing areas, the company said.
Chunghwa Telecom said the new subsidiary would boost turnover on the company's immovable assets and enhance its real estate operational efficiency.
In January, the company signed an agreement with local property developer Ruentex Development Co (潤泰創新國際) to build a housing complex on a 2,332 ping (7709m2) piece of land it owns in Taipei's Wanhua District.
Chunghwa Telecom would make NT$2 billion from the deal.
The project is the third of its kind for Chunghwa Telecom, after the company signed contracts with local hotel operator Leader Hotel Consultant Co (
Chunghwa Telecom generated NT$270 million revenue by developing its under-utilized real estate in 2005.
Six Taiwanese companies, including contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), made the 2025 Fortune Global 500 list of the world’s largest firms by revenue. In a report published by New York-based Fortune magazine on Tuesday, Hon Hai Precision Industry Co. (better known as Foxconn) ranked highest among Taiwanese firms, placing 28th with revenue of US$213.69 billion. Up 60 spots from last year, TSMC rose 60 places to reach No. 126 with US$90.16 billion in revenue, followed by Quanta Computer Inc. at 348th, Pegatron Corp. at 461st, CPC Corp., Taiwan at 494th and Wistron Corp. at 496th. According to Fortune, the world’s
NEW PRODUCTS: MediaTek plans to roll out new products this quarter, including a flagship mobile phone chip and a GB10 chip that it is codeveloping with Nvidia Corp MediaTek Inc (聯發科) yesterday projected that revenue this quarter would dip by 7 to 13 percent to between NT$130.1 billion and NT$140 billion (US$4.38 billion and US$4.71 billion), compared with NT$150.37 billion last quarter, which it attributed to subdued front-loading demand and unfavorable foreign exchange rates. The Hsinchu-based chip designer said that the forecast factored in the negative effects of an estimated 6 percent appreciation of the New Taiwan dollar against the greenback. “As some demand has been pulled into the first half of the year and resulted in a different quarterly pattern, we expect the third quarter revenue to decline sequentially,”
WEAKER ACTIVITY: The sharpest deterioration was seen in the electronics and optical components sector, with the production index falling 13.2 points to 44.5 Taiwan’s manufacturing sector last month contracted for a second consecutive month, with the purchasing managers’ index (PMI) slipping to 48, reflecting ongoing caution over trade uncertainties, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The decline reflects growing caution among companies amid uncertainty surrounding US tariffs, semiconductor duties and automotive import levies, and it is also likely linked to fading front-loading activity, CIER president Lien Hsien-ming (連賢明) said. “Some clients have started shifting orders to Southeast Asian countries where tariff regimes are already clear,” Lien told a news conference. Firms across the supply chain are also lowering stock levels to mitigate
DIVERSIFYING: Taiwanese investors are reassessing their preference for US dollar assets and moving toward Europe amid a global shift away from the greenback Taiwanese investors are reassessing their long-held preference for US-dollar assets, shifting their bets to Europe in the latest move by global investors away from the greenback. Taiwanese funds holding European assets have seen an influx of investments recently, pushing their combined value to NT$13.7 billion (US$461 million) as of the end of last month, the highest since 2019, according to data compiled by Bloomberg. Over the first half of this year, Taiwanese investors have also poured NT$14.1 billion into Europe-focused funds based overseas, bringing total assets up to NT$134.8 billion, according to data from the Securities Investment Trust and Consulting Association (SITCA),