Tatung Is To Hold An Open Bidding Over the Original Beitou Plant

In order to enhance shareholder value, Tatung intends to actively pursue asset development and vitalize its asset value. So far Banciao Plant rezoning has got approval by the Ministry of Interior as a commercial and residential lot. The Company plans to launch asset development program after all remaining approvals are completed by New Taipei City government. In considering the fact that rezoning in Taipei City usually takes 7 to 10 years, Shan-Chih Asset Development Co. has decided to pick up one case in the entire series of asset developments for sale. The target case is the original Beitou Plant which is roughly 4% of book value of Tatung’s total land bank. Other asset development plans will be executed as planned.

Shan-Chih Asset Development Co. will engage more than 2 asset appraisal companies for the appraisals. It will hold an open bidding to pursue the highest possible value for shareholders.