[Taishin Shin Kong Financial] Announcement on behalf of subsidiary Shin Kong Life regarding matters after the termination of the Taipei City superficies contract
Shin Kong Life announced the completion of settlement procedures after terminating a NT$2.8 billion superficies contract for land in Beitou with the Taipei City Government, with no major financial impact.
📋 Article Processing Timeline
- 📰 Published: May 15, 2026 at 09:00
- 🔍 Collected: May 16, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 16, 2026 at 09:06 (1h 6m after Collected)
1. Name and nature of underlying asset: Land: Superficies of city-owned land at Lot 88, Ruanqiao Section, Beitou Dist., Taipei City
2. Date of occurrence: 2026/5/15
3. Date of board resolution: Not applicable
4. Other approval date: General Manager, May 15, 2026
5. Transaction quantity, unit price, and total amount: Area: 22,860.53 sqm (approx. 6,915.31 ping); Total royalty amount: NT$2,800,000,000
6. Counterparty and relationship: Taipei City Government; Non-related party
10. Delivery or payment terms, covenants: Royalty paid in installments over 5 years. Duration: 50 years. Land rent based on declared land value.
11. Decision method: Tender.
12-14. Appraisers: Colliers International (NT$2,846,000,000), China Credit Information Service (NT$2,761,061,000).
23. Purpose: Construction of investment building
31. Other matters:
1. The company announced the termination of the contract on Nov 21, 2025.
2. According to the contract, upon early termination, contracts with third parties (like construction firms) are also terminated. Settlement affairs with contractors like Chien Kuo Construction have been processed.
3. Per the termination agreement, Taipei City Gov will reimburse the company for costs incurred fulfilling the contract, including payments to contractors. The company has completed settlements with vendors, causing no material impact on finance and operations.
2. Date of occurrence: 2026/5/15
3. Date of board resolution: Not applicable
4. Other approval date: General Manager, May 15, 2026
5. Transaction quantity, unit price, and total amount: Area: 22,860.53 sqm (approx. 6,915.31 ping); Total royalty amount: NT$2,800,000,000
6. Counterparty and relationship: Taipei City Government; Non-related party
10. Delivery or payment terms, covenants: Royalty paid in installments over 5 years. Duration: 50 years. Land rent based on declared land value.
11. Decision method: Tender.
12-14. Appraisers: Colliers International (NT$2,846,000,000), China Credit Information Service (NT$2,761,061,000).
23. Purpose: Construction of investment building
31. Other matters:
1. The company announced the termination of the contract on Nov 21, 2025.
2. According to the contract, upon early termination, contracts with third parties (like construction firms) are also terminated. Settlement affairs with contractors like Chien Kuo Construction have been processed.
3. Per the termination agreement, Taipei City Gov will reimburse the company for costs incurred fulfilling the contract, including payments to contractors. The company has completed settlements with vendors, causing no material impact on finance and operations.