Taiwan's top 300 companies see profit growth

This article was published by the Macroview Weekly on January 2, 2008. It reports that the China Credit Information Service in Taiwan recently published its ranking of the country's top 300 business groups. It showed that around 71 percent of the business groups maintained revenue growth, and nearly 85 percent of them registered a profit.

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 and global revenues of NT$18.265 trillion, surpassing Taiwan's gross national product.

Nine out of the top 10 business groups in terms of assets are financial groups, with the exception fo 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, and Far Eastern.

In terms of after-tax net profits, the top 10 are Formosa Plastics, TSMC, Foxcoon, UMC, Chunghwa Telecom, China Steel, Far Easter, Powerchip Technologies, Fubon, and VIA Technologies.

Due to the effects of a sluggish economy, less than 50 percent of the top 300 business groups were able to maintain profit growth. Meanwhile, 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.