Subsidiary Fubon Securities Acquires Right-of-Use Assets of Fubon Life Insurance
Original: 富邦金控代子公司富邦證券公告取得「富邦人壽保險股份有限公司」之使用權資產
Summary
Fubon Financial Holdings, acting on behalf of its subsidiary Fubon Securities Co., Ltd., has announced the acquisition of right-of-use assets associated with fellow group subsidiary Fubon Life Insurance Co., Ltd. This transaction most likely reflects the recognition of a lease arrangement between the two intra-group entities under IFRS 16 accounting standards, whereby Fubon Securities records right-of-use assets for premises or facilities owned or managed by Fubon Life Insurance. Full body available on MOPS.
Full Translation
Fubon Financial Holdings Co., Ltd. (TWSE: 2881), acting on behalf of its subsidiary Fubon Securities Co., Ltd., announces the acquisition of right-of-use assets pertaining to Fubon Life Insurance Co., Ltd. In accounting terms, 'right-of-use assets' (使用權資產) typically arise under IFRS 16 (Leases) when a lessee recognises its right to use an underlying asset over a lease term. The announcement therefore indicates that Fubon Securities has entered into, renewed, or newly recognised a lease arrangement for space or facilities associated with Fubon Life Insurance — both entities being wholly-owned subsidiaries within the Fubon Financial conglomerate. The parent company is filing this disclosure on the subsidiary's behalf in accordance with TWSE material-information reporting requirements. [Body not available — subject line only. See MOPS for full announcement.]