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2015 (Second Round) Corporate Governance Evaluation Results Released

Publish time:2016-04-13

The Taiwan Stock Exchange (TWSE) released the 2015 Corporate Governance Evaluation results on April 8, 2016. A total of 1,447 companies, 824 TWSE-listed companies and 623 TPEx-listed companies, were assessed. The 2015 evaluation published the top ranked 50% of TWSE-/TPEx-listed companies according to the Corporate Governance Roadmap. The list included 412 TWSE-listed companies and 312 TPEx-listed companies, and divided them into four groups by score, Top 5%, Top 6% to 20%, Top 21% to 35%, and Top 36% to 50% accordingly.
 
The TWSE stated that the 2013 Corporate Governance Roadmap considered corporate governance evaluation as one of the key tasks and started the evaluation for all TWSE-/TPEx-listed companies from 2014. The evaluation is in its second year (for the evaluation year 2015). For the purpose of continuing to strengthen and improve the quality of corporate governance for all listed companies, the second round of the evaluation has combined the indicators from the Information Disclosure and Transparency Ranking System and taken into account local and global practices before increasing the total number of indicators from 92 to 98.  The scoring criteria is also higher than the previous evaluation.
 
The TWSE points out that compared to last year, the list of companies in the top 20% contains 48 new entries this year, while the list of companies in the top 5% has 13 new entries. The replacement ratio is 29% and 32%, respectively. It shows that listed companies have been paying more attention to corporate governance evaluation, which is bringing about healthy corporate competition as expected.
 
The TWSE further states that since the implementation of the corporate governance evaluation in 2014, the TWSE-/TPEx-listed companies have been showing improvement in various aspects of corporate governance. For example, regarding the aspects of shareholders’ rights, in 2015 the number of companies that adopted voting by poll or electronic voting increased by 64% and 38%, respectively; and the number of companies that mandated a director or supervisor candidate nomination system in their articles of incorporation increased by 62%.  On the subject of the board composition, the number of companies that have independent directors has increased by 24% and those having audit committees have increased 45%; as to the disclosure of financial and nonfinancial information, the number of companies that filed their financial statements by the end of February this year grew to 97 in 2016, compared to 72 in 2015 and 32 in 2014. In addition, the number of companies that prepare corporate social responsibility reports is growing at a rate of over 50% every year. This progress demonstrates that the corporate governance evaluation system is encouraging listed companies to adopt better practices and international standards.  The system is also effectively building corporate governance core values among listed companies.
 
To encourage the top performing companies, an award ceremony is scheduled to take place in June to honor companies in the top 5% (41 from TWSE and 31 from TPEx). The results of the second round of Corporate Governance Evaluation can be found on the Corporate Governance Center website (http://cgc.twse.com.tw/evaluationCorp/listCh) and the SFI website under the Corporate Governance Evaluation (http://www.sfi.org.tw/finance/finance1/finance1_1). This can also be linked through the TWSE’s Market Observation Post System (http://mops.twse.com.tw/mops/web/index) for easy access.

2015 Corporate Governance Evaluation Results 
 
● TOP 5%
41 TWSE listed companies were evaluated as top 5% in 2015.
 
TWSE Listed Companies (in company code order)
 
 

Code Company Symbol Code Company Symbol Code Company Symbol
1216 UNI-PRESIDENT 1303 NPC 1434 F.T.C
1504 TECO 1789 SPT 2002 CSC
2049 HIWIN 2201 YL 2204 CMC
2301 LTC 2303 UMC 2308 DELTA
2317 HON HAI 2325 SPIL 2330 TSMC
2356 INVENTEC 2409 AUO 2412 CHT
2603 EMC 2618 EVAAIR 2823 CHINA LIFE
2834 TBB 2855 PSC 2880 HNFHC
2881 Fubon Financial 2882 CATHAY HOLDINGS 2884 E.S.F.H
2885 Yuanta  Group 2887 TSFHC 2888 SKFH
2891 CTBC HOLDING 2892 FFHC 2912 PCSC
3042 TXC 3045 TWM 3231 Wistron
3443 GUC 4904 Far EasTone  4938 Pegatron
9933 CTCI 9940 Sinyi Realty    
 
 
 
● TOP 6 to 20%
124 TWSE-listed companies were evaluated as top 6% to 20% in 2015.
 
TWSE Listed Companies (in company code order)
 
 
Code Company Symbol Code Company Symbol Code Company Symbol
1101 TCC 1102 ACC 1232 TTET
1301 FPC 1304 USI 1305 CGPC
1308 APC 1309 TTC 1314 CPDC
1326 FCFC 1402 FENC 1477 Makalot  
1525 KSC 1590 AIRTAC 1605 WALSIN
1609 TA YA 1710 OUCC 1711 EVERLIGHT
1720 S.C.P.C 1722 TFC 2006 Tung Ho Steel
2017 Quintain Steel 2106 KENDA 2207 HOTAI MOTOR
2208 CSBC 2227 YNM 2311 ASE
2312 KINPO 2324 Compal 2331 ECS
2337 Macronix 2344 WEC 2352 Qisda
2353 ACER 2357 ASUSTEK 2369 LPI
2377 MSI 2382 QCI 2385 CHICONY
2395 ACL 2408 NTC 2417 AVERMEDIA
2439 MERRY 2448 EPISTAR 2449 KYEC
2454 MTK 2457 PHIHONG 2480 STARK
2498 HTC 2501 CATHAY RED 2511 PHD
2606 U-MING 2607 EITC 2609 YMTC
2610 CAL 2615 WANHAI 2634 AIDC  
2722 Chateau 2727 WOWPRIME 2801 CHANG HWA BANK
2809 KTB 2812 T.C.C.B. 2820 CBF
2832 TFMI 2836 B.O.K 2838 UBOT
2845 FEIB 2849 EnTie Bank 2851 Central Re
2856 ML   2867 Mercuries Life 2883 CDIBH
2886 MEGA FHC 2889 Waterland 2890 SINOPACHOLDINGS
2903 FEDS 2908 Test Rite 2913 TTC
3017 AVC 3023 SINBON 3034 NOVATEK 
3037 UNIMICRON 3044 Tripod 3130 104
3189 KINSUS 3474 Inotera 3481 INX
3504 Young Optics 3532 FST 3607 Coxon
3665 BHI (BizLink) 3686 Danen 3702 WPG
4119 SCI 4733 SWANCOR 4919 NTC
4927 Apex 4958 ZDT 5203 CyberLink
5521 KSECO   5871 Chailease 5880 TCFHC
6005 CSC 6152 PRIME 6176 ROEC
6183 TRADE-VAN   6202 HOLTEK  6239 PTI
6251 DYNAMIC 6282 AcBel 6285  WNC 
6412 Chicony Power 6505 FPCC 8039 TAIFLEX 
8046 N.P.C 8105 GiantPlus 8112 Supreme  
8131 FATC 8163 DARFON 9802 Fulgent Sun
9904 PCC 9907 TON YI 9921 GIANT
9941 TAC        
 
 
 
● TOP 21 to 35%
123 TWSE-listed companies were evaluated as top 21% to 35% in 2015.
 
TWSE Listed Companies (in company code order)
 
 
Code Company Symbol Code Company Symbol Code Company Symbol
1103 CHC 1108 LUCKY CEMENT 1201 Wei Chuan
1218 TAISUN 1219 FWUSOW 1229 LHIC
1452 HONG YI 1460 EVEREST 1476 ECLAT
1513 CHEM 1519 FE 1533 MORE
1558 ZENG HSING 1592 Enterex 1704 LCYCIC
1708 SESODA 1714 HO TUNG 1717 ETERNAL
1723 CSCC 1730 FARCENT 1731 Maywufa
1737 Taiyen 1762 CCSB 1904 Cheng Loong
1907 YFY 1909 LCP 2015 FH
2023 YP 2062 SSM 2103 TSRC
2104 CSRC 2313 COMPEQ MFG. 2323 CMC
2345 ACCTON 2347 Synnex 2354 FTC
2360 CHROMA 2365 KYE 2367 UNITECH
2376 GIGABYTE 2393 EVERLIGHT 2414 UT
2442 JEAN 2451 Transcend 2458 ELAN
2460 GEM 2474 CATCHER 2481 PAN JIT
2492 WTC 2495 Infortrend 2597 REC
2637 WISDOM 2642 Pelican 2704 AMBH
2712 FGH 2816 UNION INS. 2850 SK Insurance
2923 Sino Horizon 2929 TOPBI 3014 ITE
3019 ASIA   3026 HOLY STONE  3036 WT
3038 EDT 3041 ALi 3047 EDIMAX 
3057 Promise   3058 LEI 3059 Altek
3060 MIN AIK 3167 TA LIANG   3257 CHAMPION
3437 AOT 3545 FocalTech 3561 SEC
3576 NSP 3622 YFO 3653 JENTECH
3669 AVer 3679 Nishoku 3682 APT
3698 Lextar 3704 Unizyx 3706 MHC
4104 EXCELSIOR   4144 Coland 4164 CHC
4532 RECHI 4536 TOPKEY 4755 SAN FU
4915 Primax 4916 PARPRO 4960 CMMT
4994 X-LEGEND 5225 KYET 5285 Jih Lin
5288 Eurocharm 5305 LSC 5388 SERCOMM
6116 Hannstar   6155 KC   6196 MIC
6206 FLYTECH  6214 SYSTEX 6215 Aurotek
6257 SIGURD   6277 ATEN 6278 TSMT
6286 Richtek 8021 Topoint 8070 CHANG WAH
8201 BESTA   8261 APEC 8271 Apacer
8404 PAIHO  SHIH 8422 Cleanaway 8427 KEYSHEEN
8443 ASO 8926 TCC   9910 FT
9912 AIC 9930 CHC 9945 RUENTEX DEVELOP
 
 
● TOP 36 to 50%
124 TWSE listed companies were evaluated as top 36% to 50% in 2015.
 
TWSE Listed Companies (in company code order)
 
 
Code Company Symbol Code Company Symbol Code Company Symbol
1109 HsingTa 1203 VE WONG 1213 N
1233 Ten Ren 1236 Hunya 1256 Sunjuice
1262 Green Seal 1312 GPPC 1313 UPC
1319 OTN 1323 YONYU 1324 GLOBE TAPE
1409 SSFC 1417 CARNIVAL 1419 SHINKO.TEXTILE
1457 YI JINN 1464 DE LICACY 1470 EVERTEX
1503 SEEC 1522 TYC 1536 HOTA
1582 SYNCMOLD 1604 SAMPO 1612 HONG TAI
1613 Tai-I 1701 CCPC 1702 NAMCHOW
1718 CMFC 1733 ApexBio 1773 SHINY  CHEMICAL
2013 CSSC 2022 TYCOONS 2034 YC
2059 king slide  2105 CST 2115 LU HAI
2228 IRF 2314 MTI 2332 D-LINK
2340 OPTOTECH 2349 RITEK 2355 CHIN-POON
2362 CLEVO CO. 2368 GCE 2371 TATUNG CO.
2390 EVERSPRING 2392 FOXLINK 2413 UMEC
2421 SUNON 2426 TYNTEK 2434 MOSPEC
2436 Weltrend 2453 SYSCOM 2455 VPEC
2484 SIWARD 2504 GBM 2506 PCC
2536 Hung Poo 2538 KeeTai 2542 Highwealth
2614 EMIC 2617 TAIWANLINE 2731 Liontravel
2841 TLDC 2852 FIRST INS 2915 RUENTEX IND.LTD
3002 AHOKU 3005 Getac 3006 ESMT
3015 FSP 3016 PRECISION 3018 TUNG KAI  
3022 IEI 3028 ZENITRON 3033 Weikeng
3149 G-TECH   3229 CHEER TIME 3380 Alpha
3416 Winmate 3550 COPARTNER 3559 GS
3573 ENTIRE 3583 Scientech 3591 EDISON OPTO
3596 Arcadyan 3661 Alchip 3673 TPK
4722 QPC 4912 F-Lemtech 4942 Chia Chang
4976 Calin 4977 F-PCL 4984 CoAdna
4999 Sinher 5007 SAN SHING    5243 ESON
5264 Casetek 5269 Asmedia 5469 HSB
5471 SONIX   5607 Farglory FTZ   5706 PHX TOUR
6117 IN WIN 6164 LEDTECH  6213 ITEQ
6224 PTTC. 6409 VOLTRONIC 6414 ENNOCONN
6415 Silergy 6504 NAN LIU   8110 WALTON 
8114 POSIFLEX 8150 ChipMOS   8210 CHENBRO 
8215 BMC 8249 CSI   8940 New Palace
8996 KAORI  9906 HSIN BA BA 9908 GTG
9911 TAIWAN SAKURA 9924 TAIWAN FU HSING 9925 SKS
9934 GUIC