Chairman’s Chinese New Year Message

While facing unfavorable macroeconomic environment in 2015, the Far Eastern Group registered good operating performance attributed by its solid financial structure, outstanding management team and organization, as well as retaining the entrepreneur spirit.  Despite the lack of optimistic prospects in 2016, we are convinced to deliver better result by optimizing our Group synergy.

The theme for the 2015 Group Annual Strategy Meeting is “Rising to a Smarter Future”.  In this fast changing world, we must be smarter to break through chaos, welcome a bright future, and lead the Group to the next 60 years.  In order to become leaders of the new era, we would encourage you to cultivate the following 4 mindsets and methods.

1. Connectivity Changes Everything
From a picture taken in 2005 at St. Peter’s Square in Vatican, there was only one camera phone among the crowd.  People were individually scattered.  At the same location again in 2013, almost everyone owned a smartphone.  Taking picture is not the major point, but sharing and connectedness are.  “Highly connectedness” not only changed people’s behaviors, broke limit of time and space, but also reversed the patterns of business practices.  Therefore, we must foster faster connectedness in business, management, working models and organization structure.  All Group companies would need to strengthen connectedness, can no longer compete alone in this brand new world.

2.Embrace New Disruptive Technologies
The new technology of 3D printing, mobile internet, and self-driving vehicles, etc. has revolutionized old technology.  McKinsey Global Institute pointed out that disruptive technologies will transform life and business models.  We should learn quickly, evaluate these new technologies and apply them to our operations so as to outpace other competitors.  In particular, if our ETC technology can be applied to self-driving vehicles, the public will enjoy more comfortable driving experience with more convenience and safer automation.

3. Aggressive, Ambitious, and Accountability
All Far Easterners should remain aggressive in seeking leadership position and be able to be ranked among top three in its respective industry, be ambitious to reinvent the Company toward the next 60 years, and be accountable to take responsibility to push for sustainable growth.  Of course, they must possess leadership quality to lead the Far Eastern team toward a greater future.  This all depend on exerting the entrepreneurship to enhance synergy and overcome all difficulties.

4.Transient Competitive Advantages
During the 2015 Group Annual Meeting, we presented participants the book titled “The End of Competitive Advantage” which indicated that all industries are facing with the speedy vanishing competitive advantage.  Thus, we need continuous reconfiguration, internal examination, healthy disengagement, more efficient resource allocation to promote deftness, and building innovation proficiency in order to become winner whilst dealing with the transient competitive advantages.

Jimmy Johnson once said: The difference between ordinary and extraordinary is that little extra.  Many times, just that little extra can make a significant difference.  This bit by bit result relies on everyone’s effort.

Far Eastern Group is strong and healthy; however, Taiwan only registered an economic growth of 0.85% in 2015.  It is uncertain if we may still enjoy growth this year.  Hope each company will continue to make more efforts to ensure positive development.

Aside from that, promoting corporate image is also extremely important.  We have always been committed to corporate social responsibilities.  The Group has also made significant contribution to the nation’s economic development and public welfare.  Yet, due to lack of publicity, certain joint ventures and investment projects were questioned.  In the future, we hope to enhance the promotion of corporate image, strengthen the understanding and trust of the Group to achieve better result.

Last but not least, we appreciate everybody’s effort to deliver good performance in 2015.  In the coming year, we will face with more challenges.  Taiwan will have a new government in place after the presidential and legislature elections, Chinese economy is also undergoing new challenges.  We need to remain calm, adjust quickly to adapt to the new environment.  We are convinced to create sustainable growth, and produce the Group’s next leading generation to complete the second 60 years with the joint effort of all Far Easterners.



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