TSMC voted most prestigious firm for ninth straight year

Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電), the world's largest made-to-order chipmaker, was rated the most prestigious Taiwanese enterprise for the ninth straight year, according to a survey released by the Chinese-language magazine Commonwealth Monthly yesterday.

The poll, which is entering its 11th year, surveyed 1,418 local companies and financial professionals between Aug. 29 and Sept. 23, using 10 criteria, including finance, international operations, value of long-term investment, ability to cultivate professionals and to innovate. The criteria were used to evaluate 304 Taiwanese enterprises.

TSMC was followed by Hon Hai Precision Industry Co (鴻海精密), the nation's largest electronics manufacturer by sales, and MediaTek Inc (聯發科技), the largest DVD-player chipmaker worldwide, rounding out the top three most prestigious companies, the survey said.

The survey results suggested that a strong capability in running overseas operations is key to local companies, with seven out of the top 10 being local high-tech companies that enjoy strong performance abroad, including Asustek Computer Inc (華碩), which was ranked fourth, and Acer Inc in fifth place, which have struck a success in the European market.

Prestige declined for banks and financial holding firms, however. While the sector has been in the spotlight recently because of the government's consolidation policy, respondents felt that financial holding companies had benefited from government protection to expand through mergers, and had exploited high interest-rate consumer loans and cash-advance cards to reap profits, the poll said.

Unlike in past years, foreign companies fell out of the top 10 this year, in part due to a reduction in the cultivation of local talent after Taiwan's economy weakened, the survey said.

Meanwhile, Wang Yung-ching (王永慶), chairman and founder of the Formosa Plastics Group (台塑集團), was rated as the most admired entrepreneur, followed by Hon Hai chairman Terry Gou (郭台銘) and TSMC chairman Morris Chang (張忠謀).