Taiwan’s top 100 business groups saw their net income jump 40.71 percent to NT$1.2 trillion (US$39.47 billion) last year, although their overall revenue climbed only 2.03 percent amid stagnating capital investment, a survey by China Credit Information Service Ltd (中華徵信所) showed yesterday.
Those conglomerates had revenues of NT$25.77 trillion last year, with assets growing to a record NT$70.75 trillion, the annual survey indicated.
The 100 largest groups have assets of at least NT$45.71 billion last year, up 3.74 percent from 2012.
Eight financial service providers made the top 10 list in terms of asset size, with the Lin Yuan Group (霖園集團) remaining the largest for the 12th consecutive year, with total assets of NT$6.14 trillion, the survey indicated.
Cathay Financial Holding Co (國泰金控) and Cathay Real Estate Development Co (國泰建設) are core members of Lin Yuan Group.
Fubon Financial Holding Co (富邦金控) ranks second, with assets valued at NT$5.23 trillion, followed by state-owned Taiwan financial Holding Co (台灣金控) with assets of NT$4.64 trillion, the survey found.
CTBC Financial Holding Co (中信金控) was ranked fourth, with assets of NT$3.18 trillion, despite its new entry status, thanks to the acquisition of Tokyo Star Bank and the local unit of Manulife International Ltd last year and MetLife Taiwan Life Insurance Co (大都會人壽) in 2011.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, remained the most profitable group in Taiwan for a fourth consecutive year, with a net income of NT$188.4 billion last year, the survey indicated.
Hon Hai Group (鴻海集團) was ranked second with NT$120.4 billion in net profit, followed by Formosa Plastics Group (台塑集團), with a profit of NT$112 billion, then Ruentex Group (潤泰集團) at NT$87.6 billion, the survey said.
Most large business groups rely heavily on the Chinese market and displayed a slowdown in terms of technology innovation and capital investment, said Sammi Chang (張瑋珊), a manager at the credit information company.
Meanwhile, companies in different services sectors and retail sales are gaining importance, Chang added.
The biotechnology sector replaces the tourism industry as the next rising star, given rapid growth in profitability, the survey said.
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