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Formosa International Hotels Corp (晶華國際酒店集團) yesterday pressed the government to reinstall a wage subsidy for the hospitality industry, which has seen business slump by 50 percent amid spreading COVID-19 infections. The industry could fare even worse as more Taiwanese vacation abroad following shortened quarantine periods, which would nevertheless continue to keep foreign tourists away, Formosa International Hotels chairman Steven Pan (潘思亮) told a shareholders’ meeting. “The industry is in need of quick relief, instead of stimulus measures slated for next month,” Pa...

Formosa International Hotels Corp (FIH, 晶華國際酒店集團) yesterday proposed to distribute a cash dividend of NT$12.39 per share although the COVID-19 pandemic continues to weigh on its business operations. The dividend scheme followed the Taipei-based hospitality provider’s announcement that net profit last year increased more than threefold to NT$2.24 billion (US$78.46 million), while consolidated revenue fell 9.08 percent to NT$4.93 billion from a year earlier. The financial results translated into earnings per share of NT$17.09, up 182.35 percent from a year earlier, company data...

Heavyweight industrialists yesterday urged the government to step up efforts to ensure that the nation has a stable electricity supply, after a referendum proposal to restart construction at the Fourth Nuclear Power Plant failed. Representatives from the Taipei-based Chinese National Association of Industry and Commerce (CNAIC, 工商協進會) shared their concerns at a breakfast meeting with key policymakers, including Vice Premier Shen Jong-chin (沈榮津). CNAIC chairman Lin Por-fong (林伯豐) said he shared Hon Hai Precision Industry Co (鴻海精密) founder Terry Gou’s (郭台銘) ...

Country's leading hotel group fast adapting to business woes during pandemic | 2021-06-04 11:02:00