Formosa Plastics tops domestic business group list

Formosa Plastics Group (FPG, 台塑集團) recorded revenues totaling NT$504.5 billion (US$14.76 billion) last year to top all domestic business groups for the second consecutive year, according to a survey released yesterday.

Business Weekly, which conducted the survey of the top 100 business groups in Taiwan, said that the group also made it to the top of the list for 2000 in terms of after-tax profits, at NT$74.4 billion (US$2.176 billion).

The group's revenue last year increased by NT$120 billion from the previous year, mainly because of its Formosa Petrochemical Corp (台塑石化) and its Mailiao power plant in Yunling, southwestern Taiwan, with both helping to contribute more than NT$60 billion.

FPG officials estimated that after the full development of its petroleum products this year, total annual revenues are expected to increase by NT$100 billion to over NT$600 billion.

Following the FPG in terms of total revenues were Lin Yuan Group (霖園集團), Shin Kong Group (新光), Acer Inc (宏電), Evergreen (長榮), Philips Taiwan, Tatung (大同), Koo's (和信), Yulon (裕隆) and Far Eastern Group (遠東), in that order.

One of the survey's noteworthy points is that Evergreen made it into the top 10 list for the first time while President Enterprises Corp (統一企業) was squeezed out of that exclusive club.

In terms of profits, FPG was also tops, accumulating NT$74.4 billion (US$2.176 billion) last year, followed by the group headed by Robert Tsao (曹興誠), chairman of United Microelectronics Corp (聯電), which recorded total profits of NT$58.6 billion (US$1.714 billion).

The top 10 list of most lucrative groups comprised Walsin Lihwa (華新麗華), China Steel Corp (中鋼), Evergreen, Asustek Computer Inc (華碩電腦), Acer, Tatung, Delta Electronics Inc (台達電子), and Pacific Electric Wire & Cable(太平洋電線電纜), in that order.

Meanwhile, two information technology companies demonstrated their high potential through their stunning growth last year.

Hou Hai Precision Industry (鴻海精密) recorded total revenues of NT$103.3 billion, up 68 percent from the previous year, with its ranking leaping to 18th place. VIA Technologies Inc (威盛電子) recorded total revenues of NT$35.4 billion, up a stunning 178 percent from the previous year, jumping in rank from 131st overall in 1998 to 50th in 2000.