Shin Kong Financial Holding Co. Ltd. Aug 11

Standard & Poors, August 2011

Abstract
Good franchise in Taiwan's financial service industry Strong liquidity with proactive liquidity management Satisfactory financial flexibility Mediocre capitalization relevant to its risk profile Moderate profitability by local standards The ratings on Shin Kong Financial Holding Co. Ltd. (Shin Kong FHC) reflect the group's good market franchise in Taiwan's financial service industry, strong liquidity, and satisfactory financial flexibility. Counterbalancing factors include the group's mediocre capitalization and moderate profitability. The ratings on Shin Kong FHC also reflect its relative subordination to its core operating subsidiaries. Shin Kong FHC is a midsize insurance-centric financial holding company with strong franchise in Taiwan's life insurance industry. Shin Kong Life Insurance Co. Ltd. (BBB/Stable/--; cnA) is the flagship and core subsidiary of Shin Kong FHC and...

Companies mentioned in this report are: Shin Kong Financial Holding Co. Ltd.,Shin Kong Life Insurance Co. Ltd.,Taiwan Shin Kong Commercial Bank
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Shin Kong Financial Holding Co. Ltd.,Shin Kong Life Insurance Co. Ltd.,Taiwan Shin Kong Commercial Bank

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