Goldsun Development & Construction Co Ltd (國產實業建設), a Taiwanese cement and property development company controlled by the Lin family, announced yesterday that Vincent Lin (林明昇) has been promoted to chairman effective immediately, replacing his father, Lin Shiaw-shinn (林孝信).
The move indicates Goldsun Group (國產實業集團) — which operates Goldsun Development, TransAsia Airways Corp (TNA, 復興航空) and security service provider Taiwan Secom Co (中興保全) — has begun its management succession plan.
Lin Shiaw-shinn, who had been the chairman of Goldsun Development since 2000, will stay on as chairman of Goldsun Group, the company said in a statement.
Vincent Lin, the eldest son of Lin Shiaw-shinn, has been working at the group for more than 10 years and is chairman of TNA and vice chairman of Taiwan Secom.
He plans to continue activating Goldsun Development’s idle assets after taking over as chairman, including plans to develop a plot of land in Taipei City’s Nangang District (南港) under a government-led urban renewal project, the statement said.
Goldsun Development manufactures and distributes pre-mixed concrete. It is also involved in property development and shopping mall leasing services.
The company’s net income was NT$51.72 million (US$1.71 million), or earnings per share of NT$0.03, in the first three months of the year, compared with a net loss of NT$48.79 million the previous year.
Frank Lin (林建涵), the younger brother of Vincent, has been promoted to vice chairman of Goldsun Development.