Forhouse and The Industrial Bank of Taiwan (IBT) signed a NT$ 2 billion Loan Syndication Agreement.
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2006-04-12 ]
Forhouse Corp. (6120) signed with the banks led by The Industrial Bank of Taiwan(IBT) for agreement of 5-year NT$ 2 billion syndication loan. The syndication loan agreement was signed at April 19th with the purpose to fund the medium-term financial requirements.
The sign ceremony was held on the morning today at Forhouse’s Ta-Ya factory in Taichung Hsien. Chairman Pan of Forhouse and the General Manager of IBT, together with representatives of the participating banks jointly signed the agreement.
In addition to the leading loan bank IBT, there are also 9 syndication banks attend the ceremony including The International Commercial Bank of China, Chang Hwa Commercial Bank, Far Eastern International Bank, China Development Industrial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Shin Kong Commercial Bank and Cathay United Bank.
Forhouse Corporation was established in 1989 with its capital of NT$ 2 billion. It has been a listed company at over-the-counter market. Starting with Electronic Dartboard products in the early years, Forhouse exports their products to worldwide especially in the American and European market. From year 1998, Forhouse transformed and extended to optoelectronics industry, developing Backlight Modules in TFT-LCD field. With its manufacturing facilities located in Ta-Ya Hsiang, Shen Kang Hsiang of Taichung Hsien, Wu-Jiang of China and Penang of Malaysia, Forhouse is the professional manufacturer of Backlight Modules, Motorized Treadmill and Electronic Dartboard games.
With higher demand in the market of TFT panels, Forhouse’s revenue and profit have been in dramatically growth. Revenue reached NT$ 9.865 billion in year 2005, which was higher than NT$ 5.784 billion with substantial 70% growth. Net profit was NT$ 1.012 billion and EPS reached NT$ 5.42.
Forhouse will continue its plan of expanding facilities to support the rapid increasing orders. The new production lines have been put into operation continually since last year. With increasing shipment of Backlight Modules for TFT TV Sets, Forhouse’s revenue in March reached NT$ 1.279 billion, breaking the record for a single month. The revenue in the first quarter reached NT$ 3.397 billion, which was in 30% growth compared to the corresponding period of last year.
