TPE:9940

CTBC Securities Starts Sinyi Realty at Add with NT$23 Price Target

Sinyi Realty Unit to Undertake Property Development Projects Worth Up to NT$2 Billion

Sinyi Realty (TPE:9940) said its board has authorized the chairman of its unit, Sinyi Development, to negotiate and sign agreements for potential real estate development projects with total land and construction costs of up to NT$2 billion.The authorization covers joint development projects, including urban renewal, as well as government land bids in Taipei and New Taipei City, according to a Wednesday Taiwan exchange filing.The company will share details and terms of any transaction, once the projects are confirmed.

Sinyi Realty Unit OKs $15 Million Cash Capital Reduction

Sinyi Realty (TPE:9940) unit approved a cash capital reduction of $15 million as part of a group-level capital restructuring plan aimed at optimizing capital allocation.The reduction, carried out through Jiu Xin Estate (Wuxi) and upstream entities, will see funds remitted step-by-step back to the parent group for consolidated use, according to a Monday Taiwan Exchange filing.The capital cut represents about 10.2% of the subsidiary's share capital, with post-reduction capital estimated at $132 million.

Sinyi Realty Unit Emerges 'Best Applicant' for Urban Renewal Project

Sinyi Realty (TPE:9940) unit Sinyi Development emerged as "best applicant" for the Taipei Zhongshan District Changchun Section urban renewal project, according to a Friday Taiwan Exchange filing.The project covers four parcels of land in the Changchun Subdivision area, and was awarded by the Taipei Urban Renewal and Public Housing Agency after a public selection process.The next step will involve contract signing in line with project guidelines, it said.