SHIFTING FOCUS:Highwealth chairman Cheng Chih-lung said the firm is to follow its peers and expand into the retail and hospitality sectors to guarantee stable fixed income

Taipei Times
Date: Jun 15, 2016
By: Crystal Hsu / Staff reporter

Highwealth Construction Corp (興富發) is to continue to target first-time and salaried home buyers and roll out small and relatively affordable housing projects across the nation.

The Taipei-based developer, which outperformed peers in terms of revenue last year, voiced confidence that real demand might underpin the market, which might fare better in the second half, if the central bank cuts interest rates again later this year.

“Gone is the era of rapid growth for the housing market,” Highwealth chairman Cheng Chih-lung (鄭志隆) told reporters on the sidelines of a shareholders’ meeting on Monday when plans were approved to issue a cash payout of NT$6 per share from net income of NT$8.12 billion (US$250.44 million), or earnings per share of NT$7.06, last year.

The earnings result represented an annual decline of 7.7 percent from 2014, in line with a tepid market.     [FULL  STORY]