HOTAI MOTOR : announces on behalf of subsidiary Hotai Insurance Co., Ltd., for its board of directors made the resolution to borrow the short-term funds
HOTAI MOTOR announces on behalf of subsidiary
Hotai Insurance Co., Ltd., for its board of directors
made the resolution to borrow the short-term funds
Date of events
2022/08/05
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2022/08/05
2.Company name:Hotai Insurance Co., Ltd.
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):subsidiaries
4.Reciprocal shareholding ratios:NA
5.Cause of occurrence:
According to the Article 143 section 1 Paragraph 1 of the Insurance Act,
the enterprise obtains the approval of the competent authority to
borrow the short-term funds from outside parties to meet cash flow needs
arising from payment of major benefits.
6.Countermeasures:
The board of directors made a resolution to borrow the short-term funds
from outside parties.
7.Any other matters that need to be specified:NA
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Disclaimer
Hotai Motor Co. Ltd. published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 09:10:02 UTC.
Hotai Motor Co Ltd is a Taiwan-based company principally engaged in the distribution of motor vehicles and relevant parts. The Company primarily provides passenger cars and business vehicles, with brands named LEXUS, TOYOTA and others, as well as large-sized vehicles, including trucks and passenger cars, with brands named HINO. In addition, it is involved in the provision of air conditioners for vehicles, vehicle leasing services and installment payment services, as well as parts and components for vehicles. The Company is also engaged in insurance business. The Company operates its businesses primarily in domestic market.
HOTAI MOTOR : announces on behalf of subsidiary Hotai Insurance Co., Ltd., for its board of directors made the resolution to borrow the short-term funds
HOTAI MOTOR CO.,LTD. 
