Ta Ya Annual General Meeting - Seeking Stability in Transformation
2014/06/09
Ta Ya held its 2014 annual general meeting today (the 6th) at Guanmiao headquarter. Chairman Shen Shang-Hung said that, due to losses incurred by Taiwan Power Company, the power distribution system renewal project has been postponed, which presents a challenge to Ta Ya's business. The company now relies on employees' "pragmatic and innovative" actions to create new values.
Chairman Shen pointed out that the company still managed to stay profitable despite slowdown in the global economy and underwhelming market conditions. After-tax net income totaled NT$142 million for the last year, representing a 3.12% growth. With an earnings per share (EPS) of NT$0.25, the company plans to pay NT$0.2 per share in cash dividends. In addition, this is also the first shareholder meeting where electronic voting is adopted to allow case-by-case vote of every agenda discussed for best protection of shareholders' interest.
In response to investors' concerns about Ta Ya's business development in Vietnam and China, Chairman Shen replied: "Ta Ya has been established in Vietnam for 20 years. The company and its employees are more united than ever. The group's "Human Rights Statement" ensures that every subsidiary is governed by appropriate measures that protect employees' rightful interests and dignity. This is why Ta Ya's Vietnamese subsidiary suffered no damage in its production equipment or financial position during the riot." China, on the other hand, presents a much tougher challenge, but thanks to the efforts of the Magnet Wire Business Group, significant improvements have been seen in first quarter performance. Ta Ya plans its investment strategies on a long-term basis, which are not easily changed by short-term incidents.
The Magnet Wire Business Group continues to make entry into Japanese, Indian, and Southeast Asian markets. The Copper and New Business Group has successfully developed new "gold-palladium-plated copper wires" that better satisfies the needs of IC packaging customers. It has strong revenue potentials in the future. The Constructions Business Group has adopted a conservative business strategy, introducing new terrace housing developments specifically to satisfy the living needs of locals. In terms of new business development, a new subsidiary named Ta Ya Green Energy Technology Co., Ltd. was founded to capture solar power opportunities.
Chairman Shen encouraged every business group and affiliated enterprise to search for transformation opportunities under the challenging environment, and reminded them to uphold stringent corporate governance and duties of a prudent manager to generate profits for shareholders.