Far Eastern Electronic Toll Collection subsidiary Far Eastern Tai wins the 2024 Overseas Taiwanese Business Boutique Gold Award

        On September 24, 2024, the Overseas Chinese Affairs Commission held the "3rd Overseas Taiwanese Business Excellence Selection and Counseling Activity" award ceremony. Far Eastern Electronic Toll Collection subsidiary, Far Eastern International Thailand Limited (Far Eastern Thailand), won the "Overseas Taiwanese Business Excellence Award - Gold Award" with its "AI Intelligent License Plate Recognition Software" after strict overseas preliminary selection and Taiwan selection. This software was jointly developed by Far Eastern Electronic Toll Collection and Far Eastern Technology. It can adapt to different weather conditions and camera angles, with an accuracy rate of up to 98.22% in identifying Thai license plates. It also helps to increase the average speed of M9 highway driving by 1.8 times. It has excellent innovation and marketability, promoting Taiwan's research and development strength to Thailand and becoming the only award-winning company in this year's software and intelligent transportation innovation technology.

        The CEO of Far Eastern Electronic Toll Collection, Chen Shengkeng, stated that Far Eastern Electronic Toll Collection has obtained contracts for the establishment and maintenance of toll control systems on two highways in Thailand, M6 and M81. It has also converted some of its manual and electronic toll collection systems to M-Flow on the existing M9 highway. Since its implementation in February 2022, it has accumulated over 660000 registered car owners and can increase traffic flow by 43% per lane per hour, effectively improving congestion in front of toll stations by 95%. The results have not only been recognized by the Thai government, but also attracted attention from Southeast Asian countries.

        The two major highways in Thailand, M6 and M81, are expected to be completed by 2025 and 2026 respectively, with a total of 28 toll gates planned to be built. Currently, 22 toll gates have been completed, with a progress rate of 78% in line with expectations; In addition to existing projects, Yuantuotai is also actively monitoring the introduction of new toll systems on other highways in Thailand in order to seize business opportunities. The ETC system on Taiwan's national highways has been proven to be a sustainable transportation construction that combines economy and environmental protection. It is highly attractive to countries undergoing sustainable and low-carbon transformation. Far Eastern Electronic Toll Collection team will continue to improve and shine internationally.

        With the successful implementation of Taiwan's ETC solution in Thailand and its attention, Far Eastern Technology Co., Ltd. was also invited by the Thai Highway Bureau to participate in the 5th International Conference on Highway Engineering (iCHE2024) in early September. Not only was it the only Taiwanese company to participate in this forum, but it was also invited to host a special seminar on "Smart Mobility" and exchange and share Taiwan's ETC experience with several representatives from the Thai transportation industry, including the Department of Highways (DEPARTMENT OF HIGHWAYS), Deputy Director of the Department of Highways (DOH), Director of the Inter City Expressway Department of the Highway Bureau, Professor of the Comprehensive Innovation Institute at Chulalongkorn University, the most prestigious university in Thailand, and Chairman of the ITS Association of Thailand, shared how Thailand has borrowed from Taiwan's experience in policy, technology, and operation to introduce a multi lane free flow (M-Flow) electronic toll collection system without barriers or toll stations, and solve problems such as road congestion.

        #