Subsidiaries
King's Town Bank International Leasing Co., Ltd.
To provide more diverse financial management and capital utilization solutions for SME, King's Town Bank established King's Town Bank International Leasing Co., Ltd. through a 100% investment in 2015, with the initial investment amount of NT$100 million. Combined with the medium-sized enterprises' clientele network of King's Town Bank, it provides customers with various customized financing services such as financing leases and operating leases.
Introduction to products and services
1. Financing leases
Financing leases are also referred to as capital leases. When the lessee needs specific machinery or equipment, the lessor purchases the assets or equipment required by the lessee, and then lease it to the lessee. The lessee shall bear various expenses incurred during the period of use, and the accumulated amount paid by the lessee for each period shall be the cost of acquiring the asset. When the lease term expires, the lessee has the first right to purchase or lease the asset.
2. Operating lease
Operating leases have a broader scope; all kinds that are not capital leases fall into this category. After the lessor leases the asset, the lessor is still responsible for maintaining the efficiency and functions of the leased asset and bears the depreciation cost and various expenses incurred during the lease period. The lessee only pays the rent to obtain the right to use. When the lease expires, the lessee has no first right to purchase or lease the asset at the lower price.
3. Installment payment
The lessor provides funds to purchase the required machinery or assets for the company, and the company chooses an appropriate period to amortize the principal and interest according to its repayment ability. All vehicles and transportation equipment, production equipment, commercial and business machinery, medical equipment, parts and components, semi-finished products and raw materials, etc., whether purchased domestically or imported, can be leased and paid off in installments.
Address: 8F., No. 167, Dunhua N. Rd., Songshan Dist., Taipei City
Telephone: (+886)2-8712-1669
King's Town Securities Co., Ltd.
King's Town Securities Co., Ltd. (formerly known as Wan Taig Securities Co., Ltd.) was established in 1990 with a capital of NT$200 million. The Bank was approved by the authority to invest in "King's Town Securities Co., Ltd." on October 27, 2020, and acquired 100% of the company's equity on January 5, 2021, becoming a 100% subsidiary of the Bank.
The main business items include accepting brokerage orders to trade securities on the centralized securities exchange and TPEx, and futures trading ancillary services.
Address: 3F, No. 289, Sec. 3, Nanjing East Road, Songshan District, Taipei City, Taiwan
Teleophone: (886)2-2563-1168
King's Town International Construction Management Co., Ltd.
King's Town International Construction Management Co., Ltd. was established in 2016 by King's Town Bank International Leasing Co., Ltd. through a 100% investment with an initial investment amount of NT$10 million. It is the subsidiary 100% owned by King's Town Bank. The purpose of its establishment is to establish an order for real estate transactions, and protect consumer rights by assisting credit investigations, implementing constructor transaction price trusts and sales rate verification.
Introduction to products and services
I. Real Estate management business
1. Agency financing service
To issue an appraisal report which bases on fair and professional credit investigation and appraisal can serve as an essential reference for the assessments for real estate sales, leasing, disposal, and for securing financing.
This service includes:
■ Credit investigation of real estate property rights
■ Evaluation report for the real estate development
2. Construction inspections
Dispatch professionals for on-site surveys to understand actual developments of the project in comparison with the scheduled progress and issue inspection reports to help the bank track project progress and adjust the schedule of funding accordingly.
3. Financial review
Check the flow of capital and financial management status of the designated account for construction projects, and regularly report the balance of the designated account to the bank or the business owner, strictly monitor the flow of funds, and ensure that the construction funds are used exclusively for that purpose.
4. Real estate sales contract inspection
Regularly conduct sales revenue and expenditure inspection services following the real estate pre-sale contract, check the status of funds, and that of payment from the pre-sale contract paid by the buyers into the designated account of the entrusted property, and assist the financing bank in controlling the funds.
II. Trust
1. Real estate trust
To ensure the successful completion of the construction project, the land of the construction project is entrusted to the financing bank or real estate management company, while the applicant entrusts the real estate management company and set up a designated trust account. The funds within the designated account will be used exclusively for the project through project progress inspection.
These services include:
■ Trust of land:
The construction company or the landowner (collectively referred to as the trustor) would register land ownership to the trustee (such as a trust enterprise or a real estate management company) to ensure the smooth completion of the development project or for other purposes. The trustee enjoys a certain degree of management, disposal, or supervision rights until the development project is completed or the cause of the trust relationship ceases to exist. The trustee will then return the land ownership to the trustor or other beneficiary designated by the trustor. Trust of land can effectively prevent interruptions or delays to the project caused by the financial problems of the trustor during the construction period.
■ Construction license rights trust ():
Construction companies or landowners who develop a piece of land by building structures must apply for a construction license from the competent authority before they can start construction. Therefore, the applicant for the building will certainly obtain the ownership of the building after it is completed. To prevent the construction company from undue delays, or external factors causing interruptions or property rights disputes, the trustee would ask the trustor to change the applicant of the construction license to the trustee of other managers. What is referred to as the applicant trust.
III. Capital trust:
1. Real estate development trust
In order to make sure that the development project proceeds smoothly, the trustor would transfer self-financed funds, construction fees and bank financing funds to the "designated account for entrusted property" with the bank. The funds in the account cannot be used for any purpose other than construction and development of the project, sales and handling of matters related to the trust.
2. Escrow in real estate
The buyer and seller of the real estate would sign a trust contract with the real estate management company. The buyer deposits the purchasing price into the designated account according to the agreed schedule, and the seller delivers document for property rights transfer to the land administrator to apply for transfers of property rights. Unless otherwise agreed upon by the buyer and the seller, after the transfer of the property rights, the trustee would deliver the buyer's deposit in the designated account to the seller to ensure the security of the transaction between the buyer and the seller.
3. Non-discretionary trust of money
The trustor would deliver money to a real estate management company for the management and use of the fund for a specific purpose.
Address: 8F., No. 167, Dunhua N. Rd., Songshan Dist., Taipei City
Telephone: (+886)2-8712-5818