Chunghwa Telecom (CHT) has issued a filing with the Taiwan Stock Exchange (TSE) explaining a Chinese-language Commercial Times report that indicated the value of its real estate properties is likely to increase to NT$330 billion (US$10.3 billion) from the current NT$110 billion following a reevaluation process.
CHT said it is currently undertaking a project with plans to shift its accounting practices to IFRS (International Financial Reporting Standards) rules, and is still evaluating any possible policies pertaining to accounting practices and bookings for assets (including real estate properties and other fixed assets), liabilities, shareholders' equity, revenues and expenses. The company stated it will disclose the relevant information following the completion of its evaluation.
CHT's net worth per share is expected to increase to NT$50 from NT$35.72 currently if the reevaluation of its properties, the first in 10 years, is realized, the paper quoted estimates by market watchers.
Article translated by Steve Shen
