Shinkong Synthetic Fibers : Announcing the engagement with related party HSIC for self-owned land entrusted development, on behalf of the subsidiary SEC.
Announcing the engagement with related party
HSIC for self-owned land entrusted development,
on behalf of the subsidiary SEC.
Date of events
2022/03/24
To which item it meets
paragraph 20
Statement
1.Type of contract:Land development entrusted management agreement
2.Date of occurrence of the event:2022/03/24
3.Counterparty to the contract and relationship with the Company:
Hsingshing Investment Co., Ltd.(HSIC) is a sister company
of Shinkong Engineering Co., Ltd.,(SEC) in which Shinkong
Synthetic Fibers Corp. holds 100% equity.
4.Major content of the contract (including total contract amount,
anticipated monetary amount of participation in the investment, and start
and end dates of the contract), restrictive covenants, and other important
terms and conditions:
1SEC anticipates paying approximately NTD 100,157,664
entrusting services fee to HSIC, the land development
management company.
2Commencement and termination dates of the contract:
the contract shall take effect on the date signed by both
trading parties and terminates on the date of completion
acceptance of the underlying construction project.
3Any restrictive covenants: none.
4Other important terms and conditions: the services
fee shall be paid in installments based on the percentage
completion method.
5.Name of the professional appraisal firm or company and its
appraisal opinion:N/A
6.Name of the real property appraiser:N/A
7.Practice certificate number of the real property appraiser:N/A
8.Concrete purpose of the acquisition:entrusted management for commercial,
residential, or self-occupancy building constructions.
9.Any dissenting opinions of directors to the present transaction:No
10.Whether the counterparty of the current transaction is a related party: Yes
11.Date of the board of directors resolution:2022/03/24
12.Date of ratification by supervisors or approval by
the audit committee:2022/03/24
13.The appraisal report has a limited price, specific price,
or special price:N/A
14.An appraisal report has not yet been obtained:N/A
15.Reason for an appraisal report not being obtained:N/A
16.Reason for any significant discrepancy with the appraisal reports and
opinion of the CPA:N/A
17.Name of the CPA firm:N/A
18.Name of the CPA:N/A
19.Practice certificate number of the CPA:N/A
20.Any other matters that need to be specified: None.
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Shinkong Synthetic Fibers Corporation published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 10:31:05 UTC.
Shinkong Synthetic Fibers Corp is a Taiwan-based company mainly engaged in the manufacture and sale of chemical fiber and plastic related products. The Company operates through the Polyester segment, the Financial Securities segment, the Optoelectronics segment and others. Chemical fiber products include polyester pellets, polyester cotton, polyester yarn, polyester processed yarn and industrial yarn. Plastic products include polyester pellets for bottles, films, pet bottles and engineering plastics. Optical products include thin film transistor (TFT)-liquid crystal display (LCD) display photoluminescent films, tri-acetyl cellulose (TAC) films, and various polyester and film applications. Financial services include commercial banks, leasing, securities companies, and various services of life and product insurance agents. Other services include contracting, real estate development and information software services.
Shinkong Synthetic Fibers : Announcing the engagement with related party HSIC for self-owned land entrusted development, on behalf of the subsidiary SEC.
SHINKONG SYNTHETIC FIBERS CORPORATION 
