Taishin Financial Holding Co (台新金控) and Test Rite Inter-national Co (特力集團) yesterday heralded the success of their joint effort to securitize a Test Rite office building -- Time Plaza (美孚時代通商大樓) -- on Chunghsiao E. Rd.
"We've successfully located over 30 institutional investors, who agreed to put down investments in the upcoming issuance of NT$600 million-worth of beneficiary shares backed by the building," Justin Tsai (蔡榮棟), general manager of Taishin Financial's wholesale banking group, told a press conference yesterday.
Test Rite chairman Tony Ho (何湯雄) said he expected to see a capital income of NT$120 million after the securities deal is completed.
The bank's securitization plan, slated to launch in June, is the first property-backed securitization project targeting pre-sold housing units, Taishin chairman Thomas Wu (吳東亮) said.
Taishin will submit an application to the Ministry of Finance for approval in mid-April, Wu said.
According to Tsai, the building's eighth, 10th, 14th, 17th and 18th floors measure a total of 1,445 ping, yielding an annual rental of NT$34 million. The building's third and fourth basement floors also have 18 highly marketable parking spaces.
With a possible yield rate of between 3 and 5 percent, the seven-year beneficiary share deal was very attractive to its bank clients, Tsai said.
Expecting to make a profit out of the deal, Tsai said the bank may curtain the deal's issuance duration from seven years to between two to three years.
Taishin plans to launch more deals in the second half of the year since its subsidiary companies own a total of NT$20 billion-worth of commercial buildings, according to the company's statement.
TRADE WAR: Tariffs should also apply to any goods that pass through the new Beijing-funded port in Chancay, Peru, an adviser to US president-elect Donald Trump said A veteran adviser to US president-elect Donald Trump is proposing that the 60 percent tariffs that Trump vowed to impose on Chinese goods also apply to goods from any country that pass through a new port that Beijing has built in Peru. The duties should apply to goods from China or countries in South America that pass through the new deep-water port Chancay, a town 60km north of Lima, said Mauricio Claver-Carone, an adviser to the Trump transition team who served as senior director for the western hemisphere on the White House National Security Council in his first administration. “Any product going
China’s Huawei Technologies Co (華為) plans to start mass-producing its most advanced artificial intelligence (AI) chip in the first quarter of next year, even as it struggles to make enough chips due to US restrictions, two people familiar with the matter said. The telecoms conglomerate has sent samples of the Ascend 910C — its newest chip, meant to rival those made by US chipmaker Nvidia Corp — to some technology firms and started taking orders, the sources told Reuters. The 910C is being made by top Chinese contract chipmaker Semiconductor Manufacturing International Corp (SMIC, 中芯) on its N+2 process, but a lack
STRUGGLING BUSINESS: South Korea’s biggest company and semiconductor manufacturer’s buyback fuels concerns that it could be missing out on the AI boom Samsung Electronics Co plans to buy back about 10 trillion won (US$7.2 billion) of its own stock over the next year, putting in motion one of the larger shareholder return programs in its history. South Korea’s biggest company would repurchase the stock in stages over the coming 12 months, it said in a regulatory filing on Friday. As a first step, it would buy back about 3 trillion won of paper starting today up until February next year, all of which it would cancel. The board would deliberate on how best to effect the remaining 7 trillion won of buybacks. The move
NVIDIA PLATFORM: Hon Hai’s Mexican facility is to begin production early next year and a Taiwan site is to enter production next month, Nvidia wrote on its blog Hon Hai Precision Industry Co (鴻海精密), the world’s biggest electronics manufacturer, yesterday said it is expanding production capacity of artificial intelligence (AI) servers based on Nvidia Corp’s Blackwell chips in Taiwan, the US and Mexico to cope with rising demand. Hon Hai’s new AI-enabled factories are to use Nvidia’s Omnivores platform to create 3D digital twins to plan and simulate automated production lines at a factory in Hsinchu, the company said in a statement. Nvidia’s Omnivores platform is for developing industrial AI simulation applications and helps bring facilities online faster. Hon Hai’s Mexican facility is to begin production early next year and the
RSS