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Nearly half of Taiwan's top business groups pose profit gains in 2007

Nearly half of Taiwan's top business groups pose profit gains in 2007

Nearly half of Taiwan's top 300 business groups saw their profits grow in 2007, a credit rating service company said Thursday.
Liu Jen, editor-in-chief of the China Credit Information Service, made the remarks as the company published its ranking of Taiwan's top 300 business groups, which showed that around 71 percent of the business groups posed revenue growth, and nearly 85 percent of them registered a profit.
Liu said that based on the financial statement of the top 300 business groups in 2006, they have set up 9,500 subsidiaries around the world with combined assets of NT$42.949 trillion (US$1.326 trillion) and global revenues of NT$18.263 trillion, surpassing Taiwan's gross national product.
Nine out the top 10 business groups in terms of assets are financial groups, with the exception of Formosa Plastics Group, which ranks sixth.
Cathay Financial Holdings tops the 10 business groups, followed by Taiwan Cooperative Bank, Taishin Holdings, Mega Holdings, Chinatrust Financial Holding, Fubon, Hua Nan Financial Holdings, Shin Kong Financial Holding and First Financial Holding, in that order.
In terms of assets, Formosa Plastics Group ranks first among traditional industries, while the Foxcoon Technology Group sits atop the high-tech industry.
In terms of revenues, the top 10 groups are Formosa Plastics, Foxcoon, ASUS, Kinpo, Quanta, Mitac-Synnex, BanQ, Acer, Inventec, Far Eastern.
In terms of after-tax net profits, the top 10 are Formosa Plastics, TSMC, Foxcoon, UMC, Chuanghwa Telecom, China Steel, Far Eastern, Powerchip Technologies, Fubon, and VIA Technologies.
Liu said that thanks to the effects of a sluggish economy, less than 50 percent of the top 300 business groups were able to maintain profit growth, and some businesses maintaining profit growth may not be included in the top 300.
Chunghwa Telecom is one of the nine business groups making into the top 100 business groups for the first time.
Chunghwa Telecom actually made it into the ranks of the top 20 business groups, Liu pointed out. It set up two overseas holding companies in British Virgin Islands in 2006, showing its ambition in expanding overseas, Liu said, adding that it has an ample room for development in Chinese market.
In terms of business performance, the TSMC was placed at the top of the first 10 groups, followed by Powerchip Semiconductor, which made it into the top 10 for the first time.
The other eight companies rounding out are VIA Technologies, Media Tek, Formosa Plastics, ProMOS, UMC, China Steel, ASUS, and Siliconware Precision Industries, in that order.


Updated : 2020-11-30 00:53 GMT+08:00