Financial Wire

Farglory Land Development OKs NT$3.8 Billion Construction Project

-- Farglory Land Development (TPE:5522) approved a NT$3.8 billion construction contract for a project in Tainan's East District, according to a Monday Taiwan Exchange filing.

Shares slid over 1% in Tuesday's late morning trade.

The contract involves a joint venture to develop land in the Dongguang Section, with work to be carried out by its unit, Farglory Construction.

The project is expected to support future revenue growth upon completion.

The company did not disclose a timeline for the project.

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