TAIEX releases list of deficit-plagued firms with board bonuses
By Linger Liu ,The China Post
February 1, 2013, 2:56 pm TWN
TAIPEI, Taiwan -- The Taipei Exchange (TAIEX) yesterday released a list showcasing which firms with deficits in 2012 still gave board directors what may be considered sizable bonuses.
The TAIEX list showed that every Acer Inc. (宏碁) board director received NT$120,000 in annual bonuses for 2012. Acer (宏碁) remains one of the world's largest global personal computer vendors but its profit last year declined.
TAIEX's statistics showed 151 firms with a 2012 deficit still gave board director bonuses — 20 percent of all Taiwan listed companies.
Acer Tops List
Acer's staff bonuses for 2012 ran to a total of NT$1.63 billion, according to TAIEX. This figure included director bonuses, with each director receiving NT$120,000. Total staff costs were NT$6.62 billion, TAIEX statistics showed.
The same was the case in 2011 when Acer suffered a deficit of NT$6.6 billion and still gave all board directors bonuses — at around NT$840,000, according to TAIEX.
Other Big Spenders
Of all firms suffering 2012 deficits, Acer gave the most generous bonuses, according to TAIEX. Walsin Lihwa Corp. was second, with AU Optronics Corp. (友達光電) coming in third place.
Green Energy Technology (綠能科技), Wintek Corp. (勝華), Microelectronics Technology (MTI) and Cosmos Bank (萬泰銀行) all occupied a high spot on the list.
TAIEX provided more examples of companies that gave high bonuses to board directors despite contracting in 2012, including Lextar Electronics (隆達電子), EVA Airways (EVA) Qisda (佳世達), Mayer Steel Pipe Corp. (美亞鋼) China Airlines, BenQ Materials Corporation (明基材) and I-Chiun Precision Industry CO. (一詮). These firms were all high on the list.