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TLDC urges government to help it end cash woes
PLEA: The company said that it needs NT$1 billion, which it could acquire if local governments settled their disputes with it and it could sell some of its land
By Crystal Hsu / Staff reporter
Taiwan Land Development Corp (TLDC, 台灣土地開發) yesterday asked the government to remove obstacles so that it could sell land to end its cash problems, causing its shares to plunge by the daily limit, with margin trading to be suspended, starting today.
“All the company needs is a cash injection of NT$1 billion [US$35.1 million] for its shares to qualify for credit trading again,” TLDC chairman Chiu Fu-sheng (邱復生) told a news conference in Taipei, protesting the labeling of the company’s stock as full delivery shares.