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Annual Report 2015
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11.
RELATED PARTY TRANSACTIONS
(1)
Parent and ultimate controlling party
The Bank and its subsidiaries are controlled by Mega Financial Holding Co., Ltd, which owns 100% of the Bank’s shares. The ultimate
controlling party of the Bank and its subsidiaries is Mega Financial Holding Co., Ltd.
(2)
Names of the related parties and their relationship with the Bank
Names of related parties
Short name
of related parties
Relationship with the Bank
Mega Bills Finance Co., Ltd.
Mega Bills
Jointly controlled by Mega Financial Holdings
Mega Securities Co., Ltd.
Mega Securities
Jointly controlled by Mega Financial Holdings
Mega Investment Trust Co., Ltd.
Mega Investment Trust
Jointly controlled by Mega Financial Holdings
Chung Kuo Insurance Co., Ltd.
Chung Kuo Insurance
Jointly controlled by Mega Financial Holdings
Mega Asset Management Co., Ltd.
Mega Asset
Jointly controlled by Mega Financial Holdings
Mega CTB Venture Capital Co., Ltd.
Mega Venture
Jointly controlled by Mega Financial Holdings
Mega Life Insurance Agency Co., Ltd.
Mega Life Insurance Agency
Jointly controlled by Mega Financial Holdings
Mega International Investment Service Corp.
Mega International
Investment Service
Jointly controlled by Mega Financial Holdings
Mega Futures Co., Ltd.
Mega Futures
Jointly controlled by Mega Financial Holdings
Chunghwa Post Corporation Limited
Chungwha Post
Director of Mega Financial Holdings
Bank of Taiwan Corp.
Bank of Taiwan
Director of Mega Financial Holdings
Waterland Financial Holdings
Waterland Financial Holdings
Supervisor of Waterland Financial Holdings(Note1)
International Bills Finance Corporation (IBF)
International Bills Finance
Supervisor of Waterland Financial Holdings
Yung-Shing Industries Co.
Yung-Shing Industries
Subsidiary of the Bank
China Products Trading Company
China Products
Subsidiary of the Bank
Mega Management Consulting Co., Ltd.
Mega Management
Consulting
Subsidiary of the Bank
Cathay Investment & Development
Corporation (Bahamas)
Cathay Investment (Bahamas)
Subsidiary of the Bank
Cathay Investment & Warehousing
Co., S.A.
Cathay Investment &
Warehousing (Panama)
Subsidiary of the Bank
Win Card Co., Ltd.
Win Card
Indirect subsidiary of the Bank
ICBC Assets Management & Consulting Co., Ltd. ICBC Consulting
Indirect subsidiary of the Bank
Mega 1 Venture Capital Co., Ltd.
Mega 1 Venture
Equity investees
United Venture Capital Corp.
United Venture
Equity investees(Note3)
Everstrong Iron & Steel Foundry & Mfg Corp.
Everstrong Iron Steel
Equity investees
IP Fund Seven Ltd.
IP Fund seven
Equity investees
China Real Estate Management Co., Ltd.
China Real Estate
Equity investees
Taiwan Finance Co., Ltd.
Taiwan Finance
Equity investees
An Feng Enterprise Co., Ltd.
An Fang
Equity investees
Ramlett Finance Holdings Inc.
Ramlett
Equity investees
China Insurance (Thai) Public Company Limited China Insurance (Thai)
Equity investees (Note2)
Mega Growth Venture Capital Co., Ltd.
Mega Growth Venture Capital
Equity investees
Others
Certain directors, supervisors, managers and
relatives of the Bank’s chairman and general
manager
Note 1: The Bank resigned from supervisorship on June 20, 2014, and is no longer International Bills Finance Corporation’s related party.
(Related transactions listed in Note 11(3) are until June 20, 2014.)
Note 2: The company was not considered a related party as of May 27, 2015.
Note 3: The company was dissolved in 2013 and completed its liquidation on October 5, 2015
(3)
Major transactions and balances with related parties
A.
Due from and due to banks
For the year ended December 31, 2015
Balance as of
December 31
Highest
Outstanding
Balance
Interest Rate
(%)
Total Interest
Income
(Expense)
(Expressed in NT Thousand Dollars)
Due from banks
Fellow subsidiary:
Mega Bills
$
2,765,776 $
3,000,000
0.45%-5.35% $
1,905
Other related parties:
Bank of Taiwan
11,296,147
19,942,773
0.01%-5.20%
715
Due to banks
Other related parties:
China Post
$
4,456,059 $
5,874,563
0.60%-1.52% ( $
40,168 )
Bank of Taiwan
3,381,407
28,257,238
0.10%-9.00% (
254 )