Sino Horizon Holdings Ltd (鼎固開發) on Tuesday said that it has put together a team to scout suitable properties for development in Taiwan.
Sino Horizon is mainly engaged in developing and managing commercial and residential properties in Shanghai, Chongqing and other first-tier cities in China.
The company, set up by the family of ASE Technology Holding Co (日月光投控) chairman Jason Chang (張虔生), said it is considering investing NT$10 billion to NT$20 billion (US$353.3 million to US$706.7 million) in Taiwan over the next two years.
Photo: Hsu Yi-ping, Taipei Times
The firm said that it would apply for approval with the Investment Commission at an appropriate time.
Sino Horizon said that it prefers to buy idle land that could be turned into affordable residential complexes.
The company said that it aims to roll out NT$11 billion in real-estate properties and gather NT$2 billion in rental income this year.
Sino Horizon unveiled its plans at an investors’ conference in Taipei, where it reported NT$1.18 billion in net income for last year, or earnings per share of NT$0.68.
Consolidated revenue last year increased 133.9 percent to NT$13.42 billion.
The company attributed the results to pent-up demand aided by ample liquidity and low interest rates, after the COVID-19 crisis eased in China.
However, the company’s property management unit took a hit from the pandemic last year as it lowered rents to help tenants cope with the crisis, it said.
Sino Horizon said it has proposed distributing a cash dividend of NT$1.2 per share, suggesting a payout ratio of 176.47 percent.
With its shares closing at NT$39.85 in Taipei trading yesterday, the payout would represent a dividend yield of 3.01 percent.
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