Privatisation hits Chunghwa figures

27 Jan 2006

Taiwan’s dominant telco Chunghwa Telecom says its recent privatisation impacted on net profits in 2005, with bonus awards to employees partly to blame for a 7.3% drop in full-year net income to TWD46.2 billion (USD1.447 billion). Revenues for the year stood at TWD183.38 billion. Operating costs have risen since the government reduced its stake in the firm to below 50% following a USD2.6 billion share sale. Chunghwa had 8.15 million mobile subscribers and 3.65 million broadband internet customers at the end of December.

Taiwan, Chunghwa Telecom