Cathay Life Insurance Acquires Right-of-Use Asset from Yi-Ru Industrial Co.
Original: 代子公司國泰人壽公告向奕如實業(股)公司取得使用權資產
Summary
Cathay Financial is disclosing, on behalf of its subsidiary Cathay Life Insurance (國泰人壽), the acquisition of a right-of-use asset from Yi-Ru Industrial Co., Ltd. (奕如實業股份有限公司). Under IFRS 16, a right-of-use asset arises from a lease agreement, indicating Cathay Life has entered into a new lease — likely for office, branch, or investment property. Full body available on MOPS.
Full Translation
Cathay Financial Holdings (2882) announces on behalf of its subsidiary Cathay Life Insurance Co., Ltd.: Cathay Life Insurance has obtained a right-of-use asset from Yi-Ru Industrial Co., Ltd. (奕如實業股份有限公司). Under IFRS 16 (Leases), recognition of a right-of-use asset reflects the commencement or renewal of a lease arrangement, whereby the lessee recognises both the asset and a corresponding lease liability on its balance sheet. This filing represents a required material-information disclosure of a real-asset lease transaction entered into by Cathay Life Insurance from the lessor Yi-Ru Industrial. [Body not available — subject line only. See MOPS for full announcement.]