Abit to repay NT$4.2 billion loan by year-end
Rumor has it that ABIT is trying to sell off all their property and euro convertible bonds to pay off some loans. Abit will look for a new board of directors to take control of the company if its syndicated loan is successfully paid off by the end of this year. If the loan is not paid off by the end of the year, who knows what will happen to ABIT.
Abit is seeking buyers for its headquarter building in Taipei and its Suzhou, China plant, according to the company. After the properties are sold, Abit?s headquarters will still remain in the same building by renting the space instead. Meanwhile, the maker will continue to manufacture high-end products in the same China plant, but may seek new suppliers for its high-end segment in the future, the company noted. Currently, production of Abit?s high-end motherboards takes place in its Suzhou plant. Elitegroup Computer Systems (ECS) helps manufacture sub-US$60 models for Abit, contributing 40% to Abit?s total motherboard shipments, the company stated.
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