Far Eastern New Century Unit to Sell Land for NT$754 Million

Far Easter New Century's (TPE:1402) subsidiary, Far Easter Resource Development, will dispose of five parcels of land to Far Easter Medical Foundation for NT$754.1 million, according to a Friday filing with the Taiwan Exchange.

The land spans an area of around 1,505 square meters. The medical foundation plans to acquire the land to provide access to the emergency department at Far Easter Memorial Hospital.

The disposal is intended to increase the textile and industrial company's working capital.

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HKG:0348HKG:0764