Before launching its expansion plan for the next few years, Farglory Hotel Co (遠雄悅來大飯店), the hotel unit of Farglory Group (遠雄企業集團), is set to list on the nation’s main bourse on Dec. 3.
The company aims to sell 10 million shares via the listing plan, with its initial offering price tentatively set at NT$18 per share, according to its underwriter, MasterLink Securities Corp (元富證券).
“We plan to open more hotels with different styles and target different customer segments over the next few years,” company president Anthony Wang (王慶祺) told an investors’ conference yesterday.
Farglory Hotel — which currently operates a luxury hotel in Hualien County — unveiled plans for four new hotels in Taipei, Yilan County’s Jiaosi Township (礁溪), Alishan (阿里山) and Yangmingshan (陽明山).
The Farglory Hotel in Taipei, which is part of the Taipei Dome Complex project, is to be the next to open, Wang said.
The 408-room hotel is expected to launch a pilot operation in 2016, ahead of the 2017 Taipei Universiade which is to be held at the dome, Wang added.
Farglory Group won the contract to build the Taipei Dome Complex in 2006 on a BOT (build-operate-transfer) basis, which includes construction of an indoor stadium complex and other commercial facilities.
After launching a city hotel, Farglory Hotel intends to focus on the Jiaosi project and other tourist attractions, Wang said.
Most of these planned projects will be owned by Farglory Group, with Farglory Hotel commissioned to be the manager and operator, Wang said.
The expansion plans could increase the total number of rooms under the Farglory brand to more than 1,000.
Farglory Hotel posted a net profit of NT$2.84 million (US$95,830), or NT$0.03 per share, in the first half of the year, down from NT$4.79 million, or NT$0.05 per share, in the same period last year.
Last year, net profit stood at NT$62.66 million, or NT$0.66 per share, with NT$512.19 million in revenue, company data showed.
However, the company’s shares have still increased almost 25 percent on the Emerging Stock Market (興櫃市場) this year.
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
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS