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FINWIRES

Far Eastern New Century's Unit to Sell Land in New Taipei City for NT$202 Million; Shares Down 4%

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Far Eastern Construction, a subsidiary of Far Eastern New Century (TPE:1402), plans to sell 10 raw land plots in the Ya Dong section of Banqiao District in New Taipei City for NT$201.9 million, according to a Friday filing to the Taiwan stock exchange.

The company's shares were down nearly 4% in Monday's trade.

The transaction involves the sale of a holding area of 285.36 square meters for eight units of a residential project.

The gains from the disposal are estimated at around NT$54 million.

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