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June 28, 2017

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Hon Hai listed as 113th-largest firm in world by Forbes

TAIPEI, Taiwan -- Forty-one Taiwanese companies have been ranked among the world's biggest 2,000 public firms by Forbes magazine this year, with Hon Hai Precision Industry Co. taking the lead in 113th place.

The result represents a remarkable leap for the world's largest contract electronics maker, which ranked 156th in 2012.

Hon Hai posted sales earnings of NT$808.87 billion for the first quarter. This was a drop from NT$988.34 billion in the fourth quarter of 2012 and a further decline from NT$1 trillion in the first quarter of 2012.

The world's largest contract chip-maker Taiwan Semiconductor Manufacturing Co. ranks second-highest among local companies at 227th, followed by Fubon Financial Holding Co. at 444th, Quanta Computer Inc. at 567th and Cathay Financial Holding Co. at 610th, according to The Global 2000 list released Wednesday.

For the January-March period this year, TSMC posted NT$39.58 billion in profits, down from NT$41.60 billion in the fourth quarter of last year. The first-quarter figure, however, was up 18.2 percent year-on-year, the company said.

Formosa Petrochemical Corp. (764), Formosa Plastic Corp. (903), Formosa Chemical & Fiber Corp. (937) and Nan Ya Plastics Corp. (1,001) are among the top 20 businesses in terms of the Forbes rankings.

Nicknamed the "Four Treasures of Formosa Plastics Group"(台塑四寶), these four companies are the most important affiliate firms of the group, which has established the "plastics kingdom" with subsidiaries and affiliates in various industries around the country.

The rankings are based on sales, profits, assets and market value. This year, Chinese bank ICBC unseated Exxon Mobil as the world's biggest company. Another Chinese bank, China Construction Bank, is No. 2 on the list.

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