2014-08-12

【Press Release 2014-08-12】
Taroko won Fubon Investment and achieved great results in the field of commercial real estate!
In order to achieve more and better results in the field of commercial real estate, Taroko Development invited Fubon Financial Holdings Venture Capital Co., Ltd. (hereinafter referred to as “Fubon Financial Holdings”), a subsidiary of Fubon Financial Holdings, to cooperate and look forward to establishing a partnership in this field through Fubon’s successful investment experience in commercial real estate.

After the completion of this capital increase, Taroko Development will be 87% owned by Taroko Fiber, 13% owned by Fubon Jinchuang, and in the future, depending on the capital needs of the construction progress of Caoya Road Shopping Center, the capital increase will be handled and other strategic shareholders will be invited to participate in the capital increase.

Kaohsiung Caoya Road Shopping Center is the most important development, operation and management project of Taroko Development, which is expected to open before the end of next year; Taroko Development is also actively striving for other shopping center operation and management opportunities in China, and will move towards an asset-light development model in the future, and this cooperation with Fubon Jinchuang should be able to give full play to each other’s expertise to provide more diversified and better development opportunities for Taroko Development.

In order to strengthen corporate governance, Mr. Cai Mingzhang, chairman of Taroko Development, who has served as a professional manager in international enterprises, is specially hired to concurrently serve as the vice chairman of Taroko Fiber, and operates and manages Taroko Group with a professional manager system, which will further improve the professionalism and transparency of corporate governance.

Remark:
Taroko Fiber Co., Ltd
Taroko Fiber started with textiles, in recent years actively transformed into commercial real estate development and operation, located in Kaohsiung City, the development of Caoya Road, is expected to be completed and opened in the fourth quarter of 2015, and because of its professional commercial real estate management capabilities, and has won the recognition of Japan’s largest retail group – AEON, the internationally renowned real estate development group Wharf, domestic life insurance companies, construction manufacturers, etc. to provide its ability to provide differentiated shopping centers, and continue to deepen the layout of the cross-strait market. Cooperation with domestic life insurers and builders is also under active discussion.

Taroko Development Co., Ltd
Founded on November 16, 2011, the main business is real estate development business, and currently launched the development of “Taroko Caoya Road” located in Kaohsiung MRT South Airport, which is the company’s first representative work into commercial real estate.

Fubon Financial Holdings Venture Capital
Fubon Financial Holdings Venture Capital is a 100% shareholding subsidiary of listed company Fubon Financial Holdings, founded on October 17, 2003, the main business includes venture capital and management consulting services, the service industry covers land development, biotechnology and medical care, cultural and creative industries, etc., recent investment success cases include Xingshu Company Taiwan Haoding Biotechnology.

Taroko Development Chairman Cai Mingzhang
Chairman Cai Mingzhang has more than 20 years of practical experience in real estate, land development, market retail development and shopping mall operation, and previously served as the deputy general manager of the real estate investment department of Nanshan Life and the director of the development department of Yingshang Tesco.