Taiwanese family businesses assign great importance to succession and most have adopted informal mechanisms, accounting firm Ernst & Young Taiwan said on Thursday, as it released its first such survey at a news conference in Taipei.
A solid and healthy succession scheme tops the list of concerns among 33 percent of family businesses in Taiwan, while 75 percent believe that governance via informal mechanisms, such as family gatherings, render a positive influence, it said.
Others approach the issue the formal corporate way, namely through board and shareholder meetings that have a legally binding effect, it said.
It is better for family businesses to
Asustek Computer Inc (華碩電腦) is the country’s most valuable brand this year as it topped the Best Taiwan Global Brands survey, the Ministry of Economic Affairs said on Thursday.
The survey found that the PC vendor’s brand value rose 23 percent from a year earlier to US$1.87 billion, moving up one notch and replacing information security solutions provider Trend Micro Inc (趨勢科技) at the top of the ranking, the ministry said.
Second-ranked Trend Micro’s brand value rose 13 percent to US$1.84 billion, it said.
Asustek’s brand value was pushed by the booming stay-at-home economy amid the COVID-19 pandemic, as higher PC demand boosted
FINANCIAL SERVICES
<strong>Bank nears approval: FSC</strong>
Web-only Next Commercial Bank Co (將來商業銀行) is likely to gain regulatory approval to begin operating by the end of the year, Financial Supervisory Commission (FSC) Chairman Thomas Huang (黃天牧) said yesterday at a meeting of the Legislative Yuan’s Finance Committee. The bank still needs to address some issues after an inspection in April regarding its information system purchase, Huang said. Two other Internet-only banks, Rakuten International Commercial Bank Co (樂天國際商銀) and Line Bank Taiwan Ltd (連線商業銀行), launched earlier this year, with 60,000 and 459,000 users respectively as of Tuesday, FSC data showed. SEMICONDUCTORS
<strong>Win Semi reports profit</strong>
Win
Bicycle makers’ revenue surges amid global trend
ORDERS DOUBLED: Delivery times for bicycle parts have increased, but large Taiwanese firms are in an advantageous position, an analyst said
By Chen Cheng-hui / Staff reporter
Taiwanese bicycle manufacturers reported robust revenue growth of 40 to 80 percent in the first two months of this year, with some hitting record highs for January and February, the companies’ data showed last week.
Solid growth momentum and strong orders amid the COVID-19 pandemic-driven bicycle boom would boost the industry’s revenue this quarter, analysts said.
Giant Manufacturing Co (巨大機械), Taiwan’s largest bicycle manufacturer, posted combined revenue of NT$12.19 billion (US$432.5 million) for January and last month, up 40.08 percent from the same period last year, which the company attributed to strong global demand for bicycles amid the pandemic.