Director of Department of Accounting, Chunghwa Post Co., Ltd.
Auditor General of Chunghwa Post Co., Ltd.
Vice President of Chunghwa Post Co., Ltd.
Message from the President
In 2008, all the countries?economic performance was dealt a heavy blow by global financial crisis triggered by subprime mortgage and financial disaster in the U.S. As a result of the recession, Taiwan saw a major decline in export, its economic growth plunged and growth rate of civic consumption and investments turned minus in the second half of the year. Yet through the hard work and active promotion dedicated by all staff in Chunghwa Post, the company achieved its goals. Moreover, the postal service received high recognition from the public in various polls. The following is a business report for fiscal year 2008 (January 1 to December 31, 2008) and a business plan for fiscal year 2009:
I.
Business Report for 2008
(I)
Results of the Businesses Operated
1.
Mails posted: 2,676,490 thousand pieces were handled, a decrease of 0.71% from 2,695,610 thousand pieces of the previous year.
2.
Philatelic revenue: Philatelic sales reached NT$634,714 thousand, an increase of 23.01% from NT$515,989 thousand of the previous year.
3.
Averaged daily balance of Postal Savings: It stood at 4,298.1 billion, an increase of 3.56% over NT$4,150.4 billion of the previous year.
4.
Amount of money orders issued: The money remitted totaled 1,686.6 billion, a decrease of 1.92% from NT$1,719.6 billion of the previous year.
5.
Averaged monthly sum insured of simple life insurance business: It reached NT$140.1 billion, an increase of 5.67% over NT$.132.6 billion of the previous year.
6.
Amount of Agential: It stood at NT$ 92.2 billion, a decrease of 3.90% from NT$95.9 billion of the previous year.
(II)
Use of Postal Capital
Postal capital is employed in accordance with Article 18 of the Postal Remittances and Savings Act and Article 27 of the Simple Life Insurance Act. At the end of December 2008, total postal capital (including savings, remittances and life insurance capital) stood at NT$4,980.6 billion. This was divided into the following:
1.
The revolving fund (including savings in current accounts, reserves against deposits in the Central Bank of the ROC and the revolving funds of its branch offices): NT$137.6 billion.
2.
Certificate deposits (including time deposits and CDs issued by the Central Bank of the ROC): NT$3,077.3 billion, comprising NT$1,582.1 billion re-deposited in the Central Bank of the ROC, NT$836.5 billion in other banks and NT$ 658.7 billion of the CDs issued by the Central Bank of the ROC.
3.
Bonds (including government bonds, corporate bonds and financial bonds): NT$1,067.3 billion.
4.
Call loans of other banks and short-term bills and notes: NT$43.8 billion.
5.
Stocks and mutual funds (including money invested by investment management companies on behalf of the post office): NT$173.1 billion.
6.
Overseas investments: NT$442.6 billion.
7.
Mortgage loans on CDs, insurance policies and real estate: NT$36.9 billion.
8.
Financial asset securities: NT$0.9 billion.
9.
Real estate investments: NT$1.1 billion.
(III)
Financial Status and Profitability Analysis
In FY 2008, total revenue (including operating revenue and non-operating revenue) stood at NT$451,348.3 million and total expenditures (including operating costs, operating expenses and non-operating expenses) totaled NT$439,945.58 million. Profit before tax was NT$11,402.72 million, which represented 104.39% of the target. The figures for the ROA (return on assets) after tax, ROE (return on equity) after tax and net profit margin for the year were 0.21%, 13.47% and 2.26% respectively.
(IV)
Research and Development
In 2008, the company commissioned experts and academic institutes to conduct studies on the following two topics:
1.
Customer satisfaction survey for 2008
2.
Study on the reasonable arrangement of overall postage structure
II.
2009 Business Plan Outline
(I)
Business Policy
1.
Regarding the execution of government’s policies:
(1)
Comply with the policy of shortening the gap between urban and rural areas by developing multiple postal service channels and improving effect of popularized services.
(2)
Comply with the invest-in-Taiwan-first policy by uplifting capital use efficiency and supporting government’s major constructions and private investment projects.
(3)
Comply with the financial policies by strengthening financial services for mass market and enhancing competitiveness.
(4)
Comply with the insurance policy by developing various life insurance products to provide better economic security to the people.
2.
Regarding operations and management:
(1)
Adapt to change of market environment by adjusting and vitalizing organization structure.
(2)
Cultivate professional talents, strengthen staff competences and improve productivity.
(3)
Promote new types of business, improve operational procedures, expand marketing channels and increase market share.
(4)
Develop various financial products and improve e-service functions.
(5)
Develop logistics and warehousing business and provide comprehensive supply chain services for better competitiveness.
(6)
Capitalize on customer relationship management system, improve e-business service functions and improve competitive edges.
(7)
Promote strategic alliance, expand business opportunities, enhance core competitiveness and increase postal revenues.
(8)
Expand capital use channels, strengthen asset allocation and hedging mechanism and uplift capital use efficiency.
(9)
Strengthen corporate governance, implement internal controls, internal audits and risk management and ensure corporate financial security.
(10)
Promote energy savings and carry out environmental protection measures, actively participate in the public welfare and build good corporate image.
3.
Regarding supply and demand:
(1)
Construct postal facilities, and purchase sites and equipment, with an eye toward promoting service quality and operating efficiency.
(2)
Purchase additional IT equipment to expand and upgrade its functions, continue to strengthen Internet security and provide diversified network services.
(II)
Major Business Targets for 2009
1.
Mails posted: 2,859.89 million pieces estimated.
2.
Philatelic revenue: NT$526.24 million estimated.
3.
Average daily balance of postal savings: NT$4,401 billion estimated.
4.
Amount of money orders issued: NT$1,446 billion estimated.
5.
Amount of simple life insurance premium: NT$124,334.75 million estimated.
6.
Amount of agential business: NT$102,027 million estimated.
(III)
Major services conducted
1.
Complied with the government policy by promoting cross-strait postal service exchange
After the launch of cross-strait direct postal delivery the company began the service of postal remittance of funds from the mainland to the island, expanding cross-strait postal service cooperation for a more convenient communications between the people on both sides.
2.
Complied with the policy of “the Distribution of Consumption Vouchers to Revitalize the Economy?by conducting related distribution operations
After assisting the Ministry of Interior Affairs with the consignment and storage of consumption vouchers at the beginning of the year, the company designated 1,203 of its post offices as the locations of second phase of distribution and was commissioned by the Taiwan Bank to provide the cashing service.
Hu Sheue-yun
President, Chunghwa Post Co., Ltd.
June 1, 2009
Jinshan Building Address : No.55, Sec. 2, Jinshan S. Rd., Da-an District, Taipei City 10603, Taiwan (R.O.C.).
TEL : +886-2-2321-4311、TEL : +886-2-2392-1310
Aiguo Building Address :No.216, Aiguo E. Rd., Da-an District, Taipei City 10603, Taiwan (R.O.C.)
TEL : +886-2-2393-1261、TEL : +886-2-2321-3625
Customer Service Center voice service hotline : 0800-700-365, or payment number (04)23542030 if you dial through a cell phone .
