Taiwan’s Far Eastern Group continues to lead in 10 major industries as it evolves business approach
Now into its 65th year, FEG is planning for the next 60 years by welcoming a range of new opportunities and entering more strategic partnerships in Asia-Pacific
How does a giant such as the Far Eastern Group (FEG) continue growing bigger, smarter, better? By transcending boundaries – from the geographic to the technological, cultural and social – then finding better ways to outdo itself over and again, while contributing to a society whose fabric has been enriched by FEG’s diverse industries, innovations and enduring aspirations for more than six decades.
FEG is a leader in 10 major industries ranging from petrochemicals and energy to textiles, cement, construction, retail, finance, transport, telecommunications, hotels and philanthropy. About 250 companies are affiliated with the group, nine of which are publicly listed with more than US$75.8 billion in total assets and US$18.7 billion in annual revenues.
Frontrunners in their respective industries, Far Eastern New Century (FENC), Asia Cement, Far Eastern Department Stores, Far Eastern International Bank, U-Ming Marine Transport, Oriental Union Chemical, Everest Textile, Far EasTone Telecommunications and Asia Cement (China) Holdings have a total of more than 600,000 shareholders.
“Behind these figures is a commitment to constantly create new value for shareholders, customers and partners,” says chairman and CEO Douglas Tong Hsu. “Far more important than surpassing such achievements, however, is staying true to our dedication to enhance harmony between people and the environment, among our people and across the globe.”
Hsu has not only upheld the rich legacy handed down by FEG founder Hsu Yu-ziang, who built the group’s foundation from a textile manufacturer in Shanghai; he was able to build on it by adding one vital principle to the group’s founding motto. From “sincerity, diligence, thrift and prudence”, the younger Hsu added the principle of innovation to empower the group in adapting and evolving in a perpetually changing world.
