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Tatung subsidiaries to auction assets worth over NT$10B

Two subsidiaries of Taipei-based conglomerate Tatung Co. Ltd.'s Shan Chih Assets Development Co. Ltd. unit are planning to sell through an auction of properties in the Greater Taipei area in a bid to restructure their finances, the Taipei Times reported.

Flat-panel maker Chunghwa Picture Tubes Ltd. and solar-wafer maker Green Energy Technology Inc. are selling a building in Zhongshan District and two land parcels in the Tucheng District, according to the Jan. 11 report.

The building occupies a 1,507.4-square-meter site that has development potential, while the two plots can be developed to accommodate residential complexes, according to bid organizer JLL.

JLL said the properties could bring in over NT$10 billion, adding that it will reveal the bidding details Jan. 14, the report noted.

As of Jan. 10, US$1 was equivalent to NT$30.81.