Mon, May 01, 2017 - Page 16 News List

Over 50 firms’ raises match, top TSMC’s

BUCKING THE TREND:Numerous listed companies have announced their plans to hike salaries between 1 and 15 percent, in contrast to the nation’s stagnating wages

Staff writer, with CNA

More than 50 firms listed on the local main board and the over-the-counter market plan to give their employees a pay raise matching or beating a raise announced by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), data showed on Saturday.

TSMC, the world’s largest pure foundry operator, last week announced that it would raise its employees’ salaries by between 3 and 5 percent this year, the same as last year, making the chipmaker an exception in the nation, where wages have stagnated for years.

TSMC has been dubbed one of the “happy enterprises,” because it raises wages every year.

Numerous listed companies are planning to follow TSMC’s example, according to their filings to the Taiwan Stock Exchange (TWSE).

Integrated circuit packaging and testing services providers King Yuan Electronics Co (京元電子) and Powertech Technology Inc (力成科技); radio frequency integrated circuit supplier RichWave Technology Corp (立積電子); and Medigen Biotechnology Corp (基亞生技) will raise salaries by between 3 and 5 percent, TWSE data showed.

Gym equipment maker Keysheen (Cayman) Holdings Co (基勝開曼控股) plans to raise salaries by between 1 and 8 percent, according to the data.

Taiwan Cement Corp (台灣水泥), the nation’s largest cement supplier, and Internet and communications device maker Radiation Technology Inc (里華科技) are planning to hike wages by between 2 and 7 percent, TWSE data showed.

Biotech firms Microbio Co Ltd (中天生技) and Oneness Biotech Co Ltd (合一生技) plan to raise wages by between 2 and 10 percent, while Formosa International Hotels Corp (晶華酒店) would increase wages by between 3 and 6 percent, according to the data.

Movie theater operator Wanhwa Enterprise Co (萬華企業) plans to raise salaries by between 3 and 15 percent this year, the data showed.

Apart from wage hike, TSMC distributed NT$44.84 billion in bonuses to its employees last year, with each employee receiving NT$1.07 million on average .

The company last year posted a record NT$334.25 billion (US$11.061 billion) in net profit, with earnings per share of NT$12.89.

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