Chunghwa Telecom Co (中華電信), the nation’s largest telecommunication services operator, said it boosted its investment in Singapore to NT$3.5 billion (US$111 million) and will announce further plans for the venture next month.
“It’s not for an acquisition, however we’ll provide more information by mid-September,” Shen Fu-fu (沈馥馥), a spokeswoman for the Taipei-based company, said in a phone interview, citing a confidentiality agreement with the counterparty.
Chunghwa Telecom will increase its investment in Chunghwa Telecom Singapore by NT$3.3 billion, the company said in an exchange filing yesterday. The counterparty to the deal is not a Singapore company and the deal doesn’t entail investment in network cables, Sheen said without providing further details.
The company’s new chairman, Lu Shyue-ching (呂學錦), said last Wednesday that the firm would refocus on its core business by speeding up its deployment of high-speed networks and possibly investing in next-generation long term evolution technology.
While Lu’s remark seemed to suggest a shift from his predecessor Hochen Tan’s (賀陳旦) focus in real-estate related investment, the Chinese-language Economic Daily News reported yesterday that Chunghwa may raise its stake in the ownership of Taipei 101.
The report, without citing sources, said the company, which already holds an 11.75 percent share in the building, may seek to compete with bigger shareholders such as Chinese Development Industrial Bank (中華開發工銀), which owns a 19.51 percent stake, to control the building.
ADDITIONAL REPORTING BY STAFF WRITER
AI REVOLUTION: The event is to take place from Wednesday to Friday at the Taipei Nangang Exhibition Center’s halls 1 and 2 and would feature more than 1,100 exhibitors Semicon Taiwan, an annual international semiconductor exhibition, would bring leaders from the world’s top technology firms to Taipei this year, the event organizer said. The CEO Summit is to feature nine global leaders from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), ASE Technology Holding Co (ASE, 日月光投控), Applied Materials Inc, Google, Samsung Electronics Co, SK Hynix Inc, Microsoft Corp, Interuniversity Microelectronic Centre and Marvell Technology Group Ltd, SEMI said in a news release last week. The top executives would delve into how semiconductors are positioned as the driving force behind global technological innovation amid the artificial intelligence (AI) revolution, the organizer said. Among them,
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