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>News>Subsidiary Announcement>Far Eastern Resource Development, FENC's subsidiary, plans to acquire the land in Banqiao District, New Taipei City from Far Eastern Construction.
Far Eastern Resource Development, FENC's subsidiary, plans to acquire the land in Banqiao District, New Taipei City from Far Eastern Construction.
From:

SEQ_NO

 1

Date of announcement

 2024/03/04

Time of announcement

 17:47:05

Subject

 Far Eastern Resource Development, FENC's subsidiary,

plans to acquire the land in Banqiao District,

New Taipei City from Far Eastern Construction.

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: Ya Dong Section of Banqiao District in New Taipei City,

           such as Land No. 625 & 626-1

 (2) Nature: Residential area

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: 137 square meters, equivalent to 41.4425 pings

 (2) Unit price: NT$1,501,000 per ping

 (3) Total transaction price: NT$62.205 million

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 Construction Co., Ltd. (FECC)

 (2) Relationship with the Company:

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

     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: In response to long-term operational needs, FERD has acquired

    complete ownership of the land on which its building is situated.

 (2)Owner of previous transfer:

    Land No. 625 in Ya Dong Section: Mr./Ms. Jiang, individual

    Land No. 626-1 in Ya Dong Section: Republic of China

 (3)Relationship between the Company and counterparty: N/A

 (4)Previous transfer price:

    Land No. 625 in Ya Dong Section: NT$12.557 million

    Land No. 626-1 in Ya Dong Section: NT$3.890 million

 (5)Previous transfer date:

    Land No. 625 in Ya Dong Section: 1991/12/9

    Land No. 626-1 in Ya Dong Section: 1992/11/16

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):N/A

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: Colliers International

  Appraisal price: NT$62.578 million

11.Name of the professional appraiser:

  Feng-Ju Ko, the Real Estate Appraiser

12.Practice certificate number of the professional appraiser:

  (103) TCG_NO.000203

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:

  In response to long-term operational needs, FERD has acquired

  complete ownership of the land on which its building is situated.

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:Yes

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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