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2015 (Second Round) Corporate Governance Evaluation Results Released
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 |