Taiwan Life Insurance Selected as Preferred Bidder for Taichung Mega Sports Park BOT Project, Investing Nearly NT$60 Billion for 2031 Completion

(Central News Agency, Reporter Su Siyun, Taipei, June 10) CTBC Financial Holding announced today that its subsidiary, Taiwan Life Insurance, has been selected as the preferred applicant for the "Taichung City Sports Industry Park New Construction, Operation, and Transfer (BOT) Project." Taiwan Life stated that this project is the largest and highest-investment sports industry BOT project in the country, with a total investment amount of nearly NT$60 billion. Construction is to be completed within 7 years from the signing date at the latest, and the company will work with the host authority and partners to strive for an early completion by 2031. Taiwan Life indicated that this project not only responds to the government's policy of channeling insurance funds into national construction but also aims to stimulate investment in the sports industry. Regarding the expected completion time, Taiwan Life stated that construction will be completed within 7 years from the signing date at the latest, and they will work with the host authority and partners to achieve completion as early as 2031 to provide higher quality public construction services. As for the investment rationale, Taiwan Life explained that the government has been encouraging the insurance industry to invest funds in domestic public construction in recent years. As one of the major domestic life insurers, Taiwan Life is responding to the government's policy goals of promoting public construction and sustainable development. This project offers long-term stable cash flow and government support, which helps achieve asset allocation diversity and stability, and aligns with long-term investment strategies and social responsibility. According to Taiwan Life's statistics, as of the end of April this year, the approved额度 for domestic project utilization, public and social welfare investment and financing was approximately NT$79.655 billion. This includes participation in 9 (excluding this project) large-scale domestic public investment projects hosted or auctioned by the government (including promotion of private participation, public urban renewal projects, or national land auction projects), all of which have been performing normally since winning the bids. (Editor: Yang Lanxuan) 1150610