IP PBX vendor DSG to reduce capital

DSG Technology, an IP PBX communication equipment supplier, has decided to reduce its capital by NT$161 million (US$5.07 million), or 27.18%, to NT$478 million. After the reduction, the company also plans to raise new funds of NT$800 million through a private placement.

DSG has bled in the red for four consecutive years, and the financial woes at the company have resulted in the handover of its management to Taiwan-based real estate development company, Kindland.

While still maintaining its core network equipment business, DSG may also venture real estate and the construction industry later, according to the company.