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>News>Subsidiary Announcement>FERD, FENC's subsidiary, plans to sell land and factory buildings in Shulin District, New Taipei City to Far Eastern General Contractor.
FERD, FENC's subsidiary, plans to sell land and factory buildings in Shulin District, New Taipei City to Far Eastern General Contractor.
From:

SEQ_NO

 2

Date of announcement

 2024/03/04

Time of announcement

 17:47:35

Subject

 FERD, FENC's subsidiary, plans to sell land and factory

buildings in Shulin District, New Taipei City to

Far Eastern General Contractor.

Date of events

  2024/03/04

To which item it meets

paragraph 20

Statement

1.Name and nature of the underlying asset (e.g., land located at Sublot XX,

Lot XX, North District, Taichung City):

 (1) Name: Sanlong Section of Shulin District in New Taipei City,

           such as Land No. 884, 885, 886, 887, 888, 889 &

           Building No. 647, 648 & 649.

 (2) Nature: Category B in industrial areas

2.Date of occurrence of the event:2024/03/04

3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),

unit price, and total transaction price:

 (1) Land: 4,732.45 square meters, equivalent to 1,431.57 pings

 (2) Building: 1,842.90 square meters, equivalent to 557.48 pings

 (3) Total transaction price: NT$545.427 million (business tax included)

4.Trading counterparty and its relationship with the Company (if the trading

counterparty is a natural person and furthermore is not a related party of

the Company, the name of the trading counterparty is not required to be

disclosed):

 (1) Trading counterparty:

     Far Eastern General Contractor Inc. (FEGC)

 (2) Relationship with the Company:

     Both Far Eastern Resource Development Co., Ltd. (FERD) and FEGC

     are FENC's subsidiaries.

5.Where the trading counterparty is a related party, announcement shall also

be made of the reason for choosing the related party as trading counterparty

and the identity of the previous owner, its relationship with the Company

and the trading counterparty, and the previous date and monetary amount of

transfer:

 (1)Reason: FEGC has acquired land and factory buildings in Shulin to meet

    its long-term operational needs.

 (2)Owner of previous transfer:

    Far Eastern Textile Ltd. (renamed Far Eastern New Century Corporation,

    hereafter referred to as FENC).

 (3)Relationship between the Company and counterparty:

    FERD is FENC's wholly owned subsidiary

    FEGC is FENC's wholly owned subsidiary

 (4)Previous transfer price:

    N/A (FENC spun off its holdings of land and transferred such holdings

    to FERD).

 (5)Previous transfer date: 2004/06/10

6.Where an owner of the underlying assets within the past five years has

been a related party of the Company, the announcement shall also include the

date and price of acquisition and disposal by the related party, and its

relationship with the Company at the time of the transaction:N/A

7.Projected gain (or loss) through disposal (not applicable for

acquisition of assets; those with deferral should provide a table

explaining recognition):

 On the consolidated basis, disposal gains or losses will be offset due to

 transactions between FENC's subsidiaries.

8.Terms of delivery or payment (including payment period and

monetary amount), restrictive covenants in the contract,

and other important terms and conditions:

 (1)Terms of delivery or payment:In accordance with the agreement

 (2)Contractual restrictions and other important agreements:NIL

9.The manner of deciding on this transaction (such as invitation to tender,

price comparison, or price negotiation), the reference basis for the

decision on price, and the decision-making unit:

 (1)The manner of deciding on this transaction: Price negotiation

 (2)The reference basis for the decision on price:

    The land evaluation reports

 (3)The decision-making department: Board of Directors

10.Name of the professional appraisal firm or company and

its appraisal price:

  Professional appraisal firm or company: Jones Lang LaSalle (JLL) Taiwan

  Appraisal price: NT$538.269 million

11.Name of the professional appraiser:

  Andy Shiu, the Real Estate Appraiser

12.Practice certificate number of the professional appraiser:

  (108) TCG_NO.000276

13.The appraisal report has a limited price, specific price,

or special price:No

14.An appraisal report has not yet been obtained:No

15.Reason for an appraisal report not being obtained:N/A

16.Reason for any significant discrepancy with the appraisal reports

and opinion of the CPA:N/A

17.Name of the CPA firm:N/A

18.Name of the CPA:N/A

19.Practice certificate number of the CPA:N/A

20.Broker and broker's fee:NIL

21.Concrete purpose or use of the acquisition or disposal:

  FEGC has acquired land and factory buildings in Shulin to meet its

  long-term operational needs.

22.Any dissenting opinions of directors to the present transaction:NIL

23.Whether the counterparty of the current transaction is a

related party:Yes

24.Date of the board of directors resolution:2024/03/04

25.Date of ratification by supervisors or approval by

the audit committee:2024/03/04

26.The transaction is to acquire a real property or right-of-use

asset from a related party:No

27.The price assessed in accordance with the Article 16 of the

Regulations Governing the Acquisition and Disposal of Assets

by Public Companies:N/A

28.Where the above assessed price is lower than the transaction price,

the price assessed in accordance with the Article 17 of the same

regulations:N/A

29.Any other matters that need to be specified:NIL

 

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