Sophia Chiu Reelected as TECO Chairperson


Sophia Chiu was reelected as the chairperson of TECO Electric & Machinery by the company's directors immediately after the latter's election by the shareholders' meeting on June 15. Chiu remarked that in her second term, she will continue the quest for the vision of "energy conservation, emission reduction, smart application, and automation," while focusing on the development of new products, new applications, and new markets, in order to attain growth in both sales and profits.

The shareholders' meeting also approved the proposal of cash-dividend payout of NT$0.86 per share for 2017, as well as 2018 business plan, according to which the company expects to attain double-digit sales growth for energy-conserving products in the year, via the development of high-efficiency motors, continuing improvement of frequency converters, and high energy-performance home appliances. The company also expects to score double-digit sales growth for smart and automation products, including health management system for electromechanical equipment, new digital services combining electromechanical equipment and big-data analysis, servo products, service robots, and gear reducer.

Chiu is upbeat about the company's business outlook in 2018, citing the company's deployment in engineering for offshore wind power and PV power, electric-car motor, rail construction in the government's Forward-Looking Infrastructure Development Program, and ship motor, which will become new growth drivers. In addition, the company plans to apply industrial big-data analysis in factory operation and combine it with AI machine learning in the establishment of industrial IoT, so as to boost production efficiency. Sophia Chiu also mentioned the strengthening of overseas business stations, to step up the development of Southeast Asian markets, including Vietnam and the Philippines, plus India.

Teco has made the top 5% list, for the fourth year running, in the corporate-governance evaluation by Taiwan Stock Exchange, in addition to winning, for the fourth straight year, golden award for Taiwan Top 50 Corporate Sustainability Report Award, testimony to its fulfillment of the role of corporate citizens, leading to a win-win outcome for shareholders and the society.