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Taiwan Paiho Unit to Acquire Indonesia Land-Use Rights

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Taiwan Paiho's (TPE:9938) Indonesian unit, Paihong Prima Indonesia, approved the purchase of land-use rights covering about 224,400 square metres in Batang Industrial City, Central Java, Indonesia, according to a Tuesday filing with the Taiwan Exchange.

The transaction has a maximum value of about 432 billion rupiah, excluding taxes, at an estimated price of 1.93 million rupiah per square meter.

The land will be used to build new factories, offices, dormitories, and other facilities to support the unit's operational expansion.

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