Home / Knowledge / News / Textiles / Formosa Petrochemicals reports exceptional growth in revenue

Formosa Petrochemicals reports exceptional growth in revenue

Jan '09
FPCC's 2008 Q3 financial results, on unconsolidated basis, was reviewed by Ms. Gem L.Y. Wu and Mr. Andrew Deng from Diwan, Ernst & Young and a qualified opinion was issued because the financial statements of the Company's investees accounted for under the equity method were not reviewed.

The Company's investments in these investees were NT$13,630,636 thousand and NT$13,832,925 thousand as of September 30, 2007 and 2008 respectively, and the related investment income amounted to NT$1,260,930 thousand and NT$890,876 thousand for the nine-month periods ended September 30, 2007 and 2008, respectively.

Except for such modifications on the investment amounts that might have resulted had the investees' financial statements been reviewed, the accountants are not aware of any modification on the financial statements referred to in the first paragraph necessary for them to be in conformity with the "Guidelines Governing the Preparation of Financial Reports by Securities Issuers" and accounting principles generally accepted in the Republic of China on Taiwan

As described in Note 3(1) to the financial statements, effective from January 1, 2008, the Company changed its depreciation method of certain fixed assets such as the related machines, transportation and other equipment of Refinery and Oil products Division (excluding the Utilities Factory and Oil Factory), Petrochemical Olefins Division and Maintenance Center in Mailiao from the straight-line method to the fixed-percentage-on-declining-base method.

In accordance to Securities and Exchange Law No. 36, FPCC hereby issues this announcement.

Click here to read the financial results.

Formosa Petrochemical Corporation

Interviews View All

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Jos Notermans,

Jos Notermans

SPGPrints is a global provider of integrated solutions for rotary screen...

Roz Guarnori,

Roz Guarnori

FESPA Global Print Expo 2019, to be held in Munich from May 14-17, is...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Justin Gutierrez, INDA

Justin Gutierrez

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Aneeth Arora, Péro

Aneeth Arora

The Woolmark Company has partnered with handmade fashion label Péro and...

Amiben Shroff, Shrujan

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search