Life insurer China Life Insurance Co (中國人壽) yesterday won the auction for the superficies rights of the Taipei Academy (台北學苑) and 13 other plots of state-owned land in neighboring areas of the capital for NT$14.17 billion (US$477.43 million), the highest price paid for a superficies rights deal this year.
That represented a premium of NT$2.73 billion, or 23.88 percent, from the auction’s floor price of NT$11.44 billion set by the Ministry of Finance.
It is the biggest leasing of superficies rights by the governmet this year in term of area.
China Life will receive a 70-year lease for the 4,050.17 ping (13,389m2) plot of land for commercial use only and the company has to pay an annual rent of NT$46.36 million to the ministry.
Seven bidders participated in yesterday’s auction, including China Life and Fubon Life Insurance Co (富邦人壽).
“This rare opportunity may have seen some companies hope to raise their profiles by taking part in such a big auction,” said an administration official, who wished to remain anonymous.
Yung Ching Asset Management Co (永慶資產管理) vice president Jeffery Huang (黃增福) said as the Taipei Academy is a large plot of land located in an urban area, it could bring big business opportunities for the winner of the auction.
Huang said he was not surprised that China Life won the bid, as only insurers have sufficient funds to invest in massive property developmemt projects such as the Taipei Academy.
China Life will only be allowed to redevelop the Taipei Academy as commerical facilities such as hotels, shops or offices, rather than as residential units, according to the ministry’s regulations.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
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