Reported 8 months ago
Formosa Plastics (1326) held a shareholders meeting today chaired by Chairman Hong Fu-yuan, expected to approve the distribution of a dividend of 1.25 yuan and the re-election of directors. Chairman Hong Fu-yuan explained that last year's decline in operations was mainly due to oversupply in the market, which is anticipated to continue cautiously for the next two years but gradually improve. To drive operational transformation, a 'Transformation Development Task Force' was established last year to promote emission reduction and energy transformation. Despite challenges, Hong mentioned ongoing strategies adjustments and improvements post the Lunar New Year, expecting market conditions to gradually improve in the latter half of the year.
Source: YAHOO