By Natasha Li / Staff reporterThe Investment Commission yesterday approved Japanese e-commerce firm Rakuten Inc’s NT$1.2 billion (US$39.73 million) investment in the Lamigo Monkeys through its Singaporean branch Rakuten Asia Pte, making it the nation’s first professional baseball team owned by a foreign firm. Lamigo, formerly run by Kaohsiung-based shoe manufacturer La New Corp (老牛皮國際), announced the sale to Rakuten more than three months ago following losses of NT$1.6 billion. Swancor Holding yesterday announced that it had booked an asset disposal gain of NT$388.87 million on top of another US$8 million. The commission also approved Danish energy company Orsted Wind Power TW Holding’s plan to invest NT$5 billion to develop its offshore wind farms off the coast of Changhua County. In related news, the Ministry of Economic Affairs yesterday approved two companies’ applications to join two of its three programs launched this year to encourage domestic investments.

Source: Taipei Times December 27, 2019 15:56 UTC