CDFHC plans to auction main office next yearBy Kao Shih-ching / Staff reporterChina Development Financial Holding Corp (CDFHC, 中華開發金控) is to auction off its headquarters in Taipei next year at the earliest, the firm said yesterday. The company’s investment arm, CDIB Capital Group (中華開發資本), on Monday decided to sell the property via public auction. CDIB Capital, previously known as China Development Industrial Bank (中華開發工銀), has owned the property since 1985. “However, given that the two proposals had more uncertainties and would take more time to materialize, we decided to just sell the building,” he said. China Life, which is 35 percent held by CDFHC, would be able to bid at the auction, but if the insurer wins the bid, CDFHC said that it would not be able to recognize the gains due to accounting rules.

Source: Taipei Times April 28, 2020 15:56 UTC