Life Insurance Subsidiary Signs Construction Contract via Land-Lease Commission Build
Original: 本公司代子公司國泰人壽公告以租地委建方式簽訂工程承攬契約書
Summary
Cathay Financial is disclosing, on behalf of its subsidiary Cathay Life Insurance (國泰人壽), the execution of an engineering/construction contract structured as a land-lease commissioned-build (租地委建) arrangement, a method whereby the lessee leases land and engages a contractor to construct a building on it. This type of contract is material under TWSE rules when the contract value or project scale meets prescribed thresholds, and it signals a new property development commitment by Cathay Life, a major institutional real estate investor in Taiwan. Full body available on MOPS.
Full Translation
Cathay Financial Holdings (2882) announces, as filing agent on behalf of its subsidiary Cathay Life Insurance Co., Ltd. (國泰人壽), that Cathay Life Insurance has entered into an Engineering and Construction Contract (工程承攬契約書) structured under a land-lease commissioned-build arrangement (租地委建方式). Under this structure, Cathay Life Insurance leases a parcel of land and commissions a contractor to construct improvements thereon, rather than acquiring the land outright. This disclosure is made pursuant to Taiwan's material-information reporting obligations. [Body not available — subject line only. See MOPS for full announcement.]