CTBC Financial Holding Co (中信金控) topped the list of average board of director salaries in 2019 by compensating its board members an average of NT$89.88 million (US$3.16 million), overtaking Yageo Corp (國巨), data released yesterday by the Taiwan Stock Exchange (TWSE) showed.
The compensation includes cash, stock rewards and other types of payment to a director for their service in the board room, but excludes a paycheck for an additional role in management or for being a company employee, the TWSE said.
In 2018, CTBC Financial ranked No. 2 with an average package of NT$73.7 million, but its board compensation in 2019 rose 21.95 percent thanks to the increasing price of the company stock included in the package, the data showed.
In 2019, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, came in at No. 2 with an average board salary of NT$43.87 million, up 9.3 percent from 2018, the data showed.
Total board compensation at TSMC tallied NT$376 million in 2019 and accounted for 0.1 percent of its net profit that year, lower than the limit of 0.3 percent set in its bylaws, the data showed.
Handset camera lens maker Largan Precision Co (大立光) ranked third with an average compensation of NT$34.89 million, up 36 percent from 2018 thanks to an increase in net profit, the data showed.
Yageo dropped to fourth in 2019 from the top position in 2018, as its average remuneration slid to NT$31.2 million from NT$114.23 million — a decline of 72 percent — when the nation’s largest passive components supplier saw its annual net profit shrink 79 percent to NT$6.9 billion, the data showed.
Yuanta Financial Holding Co (元大金控) ranked fifth in 2019 with an average package of NT$27.62 million, followed by Taishin Financial Holding Co (台新金控) with NT$27.14 million and Uni-President Enterprises Corp (統一) with NT$25.44 million, the data showed.
Hotai Motor Co Ltd (和泰汽車) ranked eighth in 2019 with NT$22.82 million, followed by China Development Financial Holding Corp (中華開發金控) with NT$20.28 million and Fubon Financial Holding Co (富邦金控) with NT$20.23 million.
Dutch brewing company Heineken NV yesterday said that it has reached an agreement to acquire a subsidiary brewery of Taiwan’s Sanyo Whisbih Group (三洋維士比集團). Heineken is to assume majority ownership and management rights of the Long Chuan Zuan Co (龍泉鑽興業) brewery in Pingtung County’s Neipu Township (內埔), the Dutch company said. It would become the first multinational brewing company to operate brewery in Taiwan once the acquisition is completed. The deal has been approved by the Ministry of Economic Affairs’ Investment Commission, but details of the financial transaction cannot be disclosed at this time, as terms of the settlement have not been completed,
Had Audrey Hepburn and Gregory Peck hopped on an electric scooter rather than a Vespa in the classic film Roman Holiday, their spin around the Eternal City might have ended in tears. The number of crashes and near-misses involving the two-wheelers has prompted Rome authorities to impose some order on a booming rental market that began two years ago. The havoc came to a head earlier this month when two US tourists attempted a night-time drive down the Spanish Steps, causing more than 25,000 euros (US$26,392) worth of damage to the 18th-century monument. Caught on security footage, the couple in their late 20s
LOOK WHO OWES: China’s exposure to Taiwanese banks was the second-largest, with Luxembourg third, followed by Hong Kong and Japan, the central bank said The US remained the largest debtor country to Taiwan’s banking sector for a 27th consecutive quarter in the first quarter of this year, with its exposure rising 8.3 percent from a quarter earlier on the back of an increase in US bonds, the central bank said on Friday. Data compiled by the central bank showed that outstanding international claims by Taiwanese banks on a direct risk basis to the US stood at US$125.38 billion as of the end of March. Department of Financial Inspection deputy head Pan Ya-hui (潘雅慧) said that the US Federal Reserve’s launch of a rate hike cycle in
GREEN CITY: The company is set to invest US$8 billion to make electric vehicles and batteries for a new city that would rely entirely on renewable energy sources Indonesia said that Hon Hai Precision Industry Co (鴻海精密) is considering investing in the country’s new capital city, a move that would bolster the US$34 billion construction project. Hon Hai, which is known as Foxconn Technology Group (富士康科技集團), is looking at setting up an electric bus system and an Internet of Things network at Nusantara, as Indonesia’s new capital is to be called, Indonesian Minister of Investment Bahlil Lahadalia said in a statement yesterday. Hon Hai chairman Young Liu (劉揚偉) met with Indonesian President Joko Widodo on Saturday to discuss the company’s plan to invest US$8 billion to build a manufacturing plant