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Chong Hong Development Board OKs Two Construction Projects

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Chong Hong Development (TPE:5534) board approved a construction contract worth about NT$735 million with its unit, HongLin Construction, according to a Wednesday Taiwan Exchange filing.

The deal is for a residential project in Tucheng District of New Taipei City, Taiwan.

According to a separate same-day filing, the company's board also approved signing another construction contract worth about NT$630 million with HongLin Construction for a residential project in the Linkou District of New Taipei City.

Both self-built projects will be developed into residential units, to be sold or leased.

The contracts, however, have not yet been formally signed.

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