Taipower is Taiwan’s largest firm in terms of paid-in capital

Taipei--Taiwan Power Co. (Taipower, ??), Taiwan's state-run power supplier, has the largest paid-in capital of any firm in the country, the Ministry of Economic Affairs (MOEA) said Thursday.

Contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, ???), the most heavily weighted stock in the local equity market, came in second, according to the MOEA.

According to ministry data, Taipower had paid-in capital of NT$330 billion (US$10.71 billion), ahead of TSMC with NT$259.3 billion in paid-in capital.

However, the No. 1 title is unlikely to be kept for long by Taipower as the Legislative Yuan has passed an amendment to the Electricity Act to liberalize the local power supply market and restructure the company.

Under the new law, passed in January, Taipower's operations are expected to be split into two sectors -- one for power generation and the other for electricity transmission, distribution and sale through business spin-offs. The firm is unlikely to keep its No. 1 spot after the spin-offs.

After Taipower and TSMC, CTBC Financial Holding Co. (???) was in third position, with paid-in capital of NT$194.9 billion, followed by the world's largest contract electronics maker, Hon Hai Precision Industry Co. (??), with NT$173.2 billion, China Steel Corp. (??), the largest steel maker in Taiwan, with 157.7 billion and China Development Financial Holding Co. (???) with NT$149.7 billion.

Taiwan Water Corp. (?????), another state-owned company, came in seventh with NT$137.5 billion in paid-in capital before Mega Financial Holding Co. (???) with NT$135.9 billion, Cathay Financial Holding Co. (???) with NT$133.9 billion, and CTBC Bank (???) with 131.1 billion.

Among the top 10 largest companies in Taiwan, the manufacturing sector and the financial sector split the rankings equally, while Taipower and Taiwan Water, the two state-owned firms took two spots.

The data shows that only TSMC was closely behind Taipower, with the other eight among the top 10 left far behind.

Among the top 500 companies in Taiwan in terms of paid-in capital, 282 are registered in Taipei, accounting for 56.4 percent of the total, while 46 are registered in Kaohsiung, 32 in New Taipei, 29 in Taoyuan, 24 in Taichung, and 17 in Taichung.

Thirty are registered in the Hsinchu Science Park in northern Taiwan, including TSMC, since the science park houses Taiwan's most important high-tech firms.

Source: Focus Taiwan News Channel