Taipei Fubon Bank Acquires Right-of-Use Assets from Fubon Life Insurance
Original: 富邦金控代子公司台北富邦銀行公告取得「富邦人壽保險股份有限公司」 使用權資產
Summary
Fubon Financial Holdings, acting as agent for its subsidiary Taipei Fubon Bank, has disclosed that Taipei Fubon Bank is recognising right-of-use assets (under IFRS 16) obtained from fellow group subsidiary Fubon Life Insurance Co., Ltd. The transaction represents an intra-group lease arrangement whereby Taipei Fubon Bank will use assets — most likely real estate — owned or controlled by Fubon Life, triggering a lease-liability and right-of-use asset entry on Taipei Fubon Bank's balance sheet. Full body available on MOPS.
Full Translation
Fubon Financial Holdings Co., Ltd. (TWSE: 2881), acting on behalf of its subsidiary Taipei Fubon Bank, announces that Taipei Fubon Bank has acquired right-of-use assets from Fubon Life Insurance Co., Ltd. Under IFRS 16, a right-of-use asset is recognised when a lessee obtains contractual rights to use an underlying asset (typically property or equipment) over a specified lease term; the corresponding lease liability is recorded simultaneously. Because Fubon Life Insurance is also a subsidiary of Fubon Financial Holdings, this is a related-party intra-group transaction subject to Taiwan's material-information disclosure requirements once the asset value crosses the regulatory reporting threshold. The filing was submitted by Fubon Financial on behalf of Taipei Fubon Bank as the direct contracting entity. [Body not available — subject line only. See MOPS for full announcement.]