Chunghwa Telecom (CHT) has recognized a non-cash loss of NT$1.26 billion (US$42.1 million) from non-operating investment in real estate pursuant to No. 35 Statement "Accounting Standards for Asset Impairment" to comply with International Financial Reporting Standards (IFRS), according to CHT.
CHT has appraised the fair market value of all properties, land and buildings invested in for non-operating purposes and some of the values are less than its book values, CHT said adding that recognizing the losses will not impact working capital or cash flow.
Article translated by Adam Hwang
