Mon, Apr 12, 2004 - Page 10 News List

CPC, Hon Hai, Quanta top sales earners: survey

TOUGH COMPETITION ``Commonwealth'' said the improving economy means companies will have to work harder than last year to make it into this year's top 10 list


State-run Chinese Petroleum Corp (CPC, 中油), Hon Hai Precision Industry Co (鴻海精密) and Quanta Computer Inc (廣達電腦) were the top three domestic manufacturers by sales in the country last year, according to a survey released yesterday by Commonwealth (天下雜誌), a Chinese-language business magazine.

CPC, which took the first position in 2002, reported sales of NT$457.85 billion last year, followed by Hon Hai with NT$327.9 billion (US$9.99 billion) and Quanta's NT$292.29 billion. Hon Hai was also the largest private company in the manufacturing industry in 2002 with sales of NT$245 billion.

Other manufacturers in the top 10 list were Formosa Petrochemical Corp (台塑石化), Taiwan Semiconductor Manufacturing Company (台積電), state-owned China Steel Corp (中鋼), Nan Ya Plastics Corp (南亞塑膠), BenQ Corp (明基電通) and Formosa Chemicals & Fibre Corp (台化).

The magazine indicated that as the economy is getting better this year, companies will need to come up with sales exceeding NT$100 billion to get in the top 10 list in the industry this year.

The survey said state-run Taiwan Power Company (台電) and Chunghwa Telecom Co (中華電信) and Samsung Electronics Taiwan Co were the top three companies by sales in the service sector last year with revenues of NT$335.47 billion, NT$179.15 billion and NT$93.71 billion respectively.

In the banking industry, the top three positions were taken by Cathay Financial Holding Co (國泰金控), which acquired World Chinese Commercial Bank (世華銀行) last October, Chunghwa Post Co (中華郵政) and the Bureau of National Health Insurance, which saw sales of NT$525.74 billion, NT$367.4 billion and NT$356.58, respectively.

Meanwhile, another poll released by the magazine said that 76 percent of the chief executive officers in the top 1,000 enterprises in the nation are optimistic about the economy this year regardless of the post-election uncertainties.

The magazine said 84.8 percent of those polled are considering increasing investment in Taiwan and 77 percent plan to raise employee salaries.

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