Shinkong Financial Holding Co (
Shinkong Financial's January-August earnings per share (EPS) ranked second-highest out of the 14 financial holdings firms in Taiwan, after Cathay Financial Holding Co's (
The financial holdings' flagship affiliate, Shinkong Life Insurance Co (
The insurer's overseas investment rose to NT$3.11 billion, or 34.75 percent of its total investment of NT$8.95 billion last month, approaching the regulatory ceiling of 35 percent, the company said.
Shinkong Financial is expected to roll out its first real estate investment trust (REIT) products valued at more than NT$10 billion by the year-end when the Financial Supervisory Commission gives a green light after a review.
An REIT is a company that purchases and manages real estate or real-estate loans, using money provided by shareholders. REITs pay out almost all the income the company earns in dividends, making it attractive to investors seeking regular returns with the possibility of capital gains.
Shinkong's REIT is backed by the financial holdings' four buildings including Shinkong Jasper Villa Tienmu (
Cathay Financial, the nation's biggest financial services company, said on Wednesday that its NT$13.9 billion REIT drew more than three times that amount in demand.
Cathay plans to start trading its REIT on the Taiwan Stock Exchange late this month or early next month, the company said in a statement at the time.