S&P: Taiwan Fire unchanged

Standard & Poor's said that the rating on Taiwan Fire & Marine Insurance Co. Ltd. (BBB/stable) would not be immediately affected by the company's announcement that it intends to invest NT$2 billion in a shopping mall through its asset management subsidiary, TFMI Asset Management Co. Ltd.

TFMI plans to invest NT$2 billion in Asiaworld Shopping Mall in Taipei City, the agency said, adding that the transaction, which is expected to be completed by the end of January, will have a limited impact on TFMI's investment profile and capitalization.

TFMI is unlikely to make additional significant capital investments in its asset management subsidiary over the short term, according to S&P.

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