TECO Among Top 5% in Corporate-Governance Evaluation for Sixth Straight Year

TECO Electric & Machinery (1504) hits the top 5% list for corporate governance among all the companies listed on the Taiwan Stock Exchange for the sixth year in a row, a record shared by only 11 other listed companies.

The Taiwan Stock Exchange points out that the new edition of corporate governance blueprint prioritizes strengthening of the validity of corporate-governance evaluation, in order to continue pushing sound corporate governance among companies listed on the centralized market and over-the-counter market. In addition, its evaluation indicators fall mainly in the four categories of "upholding of shareholders' equity and fair treatment of shareholders," "strengthening of the structure and operation of the board of directors," "enhancement of information transparency," and "materialization of corporate social responsibility." Thanks to its high regard for corporate governance, TECO has performed excellently in various evaluations. In addition, it instituted a corporate-governance chief last year, whose scope of authority, as well as major business plan, has been disclosed on corporate website and in annual report, a practice which can serve as a model for listed companies.

It stresses that the company will uphold shareholders' equity as its primary goal and stick to the concept of "integrity-oriented management, materialization of corporate governance, fulfillment of social responsibility, and quest for sustainable development”. The honor accorded by the regulator underscores the company's performance in corporate governance and its trustworthiness for shareholders, who can rest assured supporting the company's stance and propositions, in order to maximize their interests.