Financial holding companies advanced into top-10 biz groups

Taipei, Dec. 19, 2003 (CENS)--Quite a few domestic financial holding companies, focusing on acquisition and merger strategy, have squeezed into the list of Taiwan's top-10 business groups in terms of total assets, according to a survey recently conducted by the China Credit Information Service Ltd. (CCIS).

CCIS conducted the survey based on the 2002 consolidated financial statements prepared by the domestic business groups, including their affiliates, for the first time ever.

With NT$2.122 trillion (US$62.41 billion at US$1:NT$34) in total assets, Linyuan Group, parent of Cathay Financial Holding Co., regained the title as Taiwan's largest business group. With total assets of NT$1.66 trillion (US$48.82 billion) Mega Financial Holding Co. advanced to the second place from 10th a year ago.

CCIS president Chang Ta-wei said Formosa Plastics Group (FPG) is one of the most aggressive business groups because it stands firmly as Taiwan's third largest business group and the largest manufacturing conglomerate, despite the large expansion of local financial holding companies. Results of the CCIS survey show FPG has total assets of NT$1.483 trillion (US$43.61 billion).

Of the top-10 business groups in terms of net revenues, eight come from the manufacturing sector, four of which are high-tech firms, including Mitac-Synnex Group, Cal-Comp Electronics Co., Hon Hai Precision Industry Co., and Lite-On Electronics Co.

Linyuan and Shin Kong are the only two financial holding groups squeezing into the list of the top-10 business groups in terms of net revenues. The remaining four on the list come from the conventional sectors of petrochemical, textile, food-processing and automobile.

Seeing four conventional firms rank among the top-10 business groups, CCIS said conventional firms performed as well as the high-tech firms in posting net revenues.

Two groups that pulled out of the top-10 list are Acer and Evergreen.

The survey shows the average assets of local business groups broke the NT$100 billion (US$2.94 billion) mark for the first time to reach NT$113 billion (US$3.32 billion) in 2002, up 16.43% from the previous year.

Top-10 business groups in terms of net revenue
Rank	Group	Net Revenue (NT$1 million)
1	FPG	721,907
2	Linyuan	520,226
3	Shin Kong	329,863
4	Mitac-Synnex	311,774
5	Cal-Comp	303,231
6	Hon Hai	288,333
7	Far Eastern	252,013
8	Uni-President	246,240
9	Lite-On	234,023
10	Yulon	201,466
Source: CCIS

 

Top-10 business groups in total assets
Rank	Group	Total Assets (NT$1 million)
	Linyuan	2,122,731
2	Mega FHC	1,669,266
3	FPG	1,483,210
4	Chinatrust FHC	1,400,834
5	HwaNan FHC	1,356,365
6	First FHC	1,349,036
7	Shin Kong	1,284,723
8	Fubon	1,180,557
9	Far Eastern	742,314
10	SinoPac FHC	455,631
Source: CCIS