FENC Named Asia's Most Honored Company by Institutional Investor for 3 Years

Far Eastern New Century Corporation (FENC) has once again received international recognition, being named Asia's Most Honored Company in the Consumer Discretionary sector by Institutional Investor Magazine (II) for the third consecutive year. Known as the "Oscars of the investment community," II's rankings are considered a key indicator in the global investment field. This year, the 14th annual survey included participation from 1,669 institutions and 5,894 professional investors across Asia (excluding China). FENC also achieved top rankings in its industry for Best CEO, Best ESG, Best CFO, Best Board of Directors, Best IR Program, and Best IR Professional, and maintained its first-place position in Best IR Team for the third year running.

Moreover, in the recent 2024 FinanceAsia Awards, FENC was honored with three gold awards in Taiwan for Best Mid-Cap Company, Best CEO, and Best CFO, along with a silver award for Best Overall Company. This marks the third consecutive year of awards for FENC, making it one of Taiwan's most decorated traditional industry companies. These accolades, selected by investors, affirm FENC's efforts in effective two-way communication with stakeholders, earning high trust and recognition from international investors through transparent communication, proactive engagement, and a professional team.

FENC operates three major business segments: production business, investment business, and land development business. Adapting to the global trend of carbon reduction, FENC has successfully transformed its production business into a leader in sustainable polyester materials. The company develops eco-friendly recycled polyester (rPET) made from recycled PET waste bottles, reducing greenhouse gas emissions by 63% compared to conventional petroleum-based PET and enhancing product value. These materials are used in various applications, including food packaging, non-food packaging, functional apparel, footwear, automotive materials, and household items. Recently, FENC has advanced in textile-to-textile recycling and polyester chemical recycling, significantly expanding its recycling scope. At the 2024 annual shareholders' meeting, FENC announced its ambitious transformation goals: by 2030, the company aims to achieve a 50% reduction in carbon emissions, green products constituting 50% of total production, and green raw materials comprising 50% of sourcing. The company is actively promoting a net-zero transformation with strategies that include enhancing energy efficiency, adopting low-emission fuels and developing renewable energy. FENC continues to harness cutting-edge technologies for a growing range of products, including chemical recycling technology, which is nearing commercialization and poised to capture promising future business opportunities.

In the land development business, FENC incorporates sustainable urban concepts, utilizing the latest green construction methods and materials to create environmentally friendly spaces. New buildings are designed with green building principles and aim to obtain green building certifications. For example, FENC's largest development project in Banqiao, the Taipei Far Eastern Telecom Park (Tpark), is guided by sustainability principles to create a modern complex that is both aesthetically pleasing and meets contemporary needs. Buildings in the Tpark are constructed using environmentally low-impact prefabricated methods and feature high-tech seismic isolation designs, providing safe, pleasant, and comfortable living and working spaces. Far Eastern Resource Development Co., Ltd. (FERD), FENC’s subsidiary in the land development business, has designed sustainability indicators such as green building area, the number of green building projects, and building energy efficiency as criteria for linked loan. By reducing electricity consumption, increasing green buildings, and improving energy efficiency, it has become Taiwan's first real estate development company to combine green building and energy-saving as metrics for green financing. In February 2024, FERD participated for the first time in the Triple A Awards 2024—Sustainable Finance, organized by international financial media The Asset. The company won the award for Best Sustainability-Linked Loan Real Estate Taiwan, showcasing its forward-looking and sustainable design concepts on the international stage.

Despite the challenges of the global economic environment, FENC has demonstrated resilience and adaptability, achieving steady growth. The company's unwavering efforts in governance, financial transparency, and sustainable development have distinguished it among its peers. FENC's outstanding performance in Environmental, Social, and Governance (ESG) aspects has set a benchmark in the industry.