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Internationally renowned financial media outlet Institutional Investor has announced its 2024 Asia Executive Team rankings. Taiwan Mobile stood out among the 1,669 listed companies and was once again named a “Most Honored Company”. In the Overall Asia (ex-Japan) ranking, Taiwan Mobile won five prestigious awards in the telecommunications sector, including “Best ESG”, “Best IR Team,” and “Best Board of Directors.” Notably, President Jamie Lin and Chief Financial Officer George Chang have retained their No.1 positions as “Best CEO” and “Best CFO” in the telecommunications industry for two years in a row. In the rankings for the Rest of Asia (ex-China) region, Taiwan Mobile grabbed the first place in telecommunications industry rankings for the 3rd consecutive year, taking home five first-place awards in the Best CEO, Best CFO, Best IR Program, Best ESG, and Best Board of Directors categories.
The 2024 Asia Executive Team Survey, hosted by Institutional Investor Magazine, surveyed a total of 5,894 buy-side and sell-side professionals, and covered 18 sectors. The participants were asked to evaluate companies’ financial disclosure, investor relations, ESG advocacy, board governance, and leadership of the CEO and CFO. This year, out of 1,669 listed companies that were evaluated, only 138 companies were ranked. Of those, only 55 were awarded the “Most Honored Companies” title. In the highly competitive Overall Asia (ex-Japan) rankings, Taiwan Mobile won this title for the second consecutive year, along with only 4 other Taiwanese companies - Fubon Financial, Taiwan Semiconductor Manufacturing Company, MediaTek, and Aspeed Technology.
President Jamie Lin said he was greatly honored to receive first place as “Best CEO” for the second consecutive year in the Overall Asia (ex-Japan) rankings, along with the other company awards. He emphasized that Taiwan Mobile's success is a result of the collective efforts of all employees. Despite the merger with T Star at the end of 2023, the company's profitability did not suffer, but instead grew despite the challenges. In the first quarter of 2024, Taiwan Mobile's telecom service revenue rose by 25% YoY and its consolidated EBITDA increased by 22% YoY. The company's financial performance was solid, allowing for continuous growth in free cash flow and maximization of shareholder value.
President Lin pointed out that the merger has a positive impact on society, given that base station consolidation helps reduce carbon emissions. As our subscriber base increased to over 10 million after the merger, Taiwan Mobile will continue to execute its Telco+Tech strategies, develop 5G and AI-related applications, and create new value for the telecommunications industry. This will maximize the benefits for shareholders, employees, customers, and other stakeholders.
Chief Financial Officer George Chang stated that in the face of the rapidly changing information and communications technology industry, Taiwan Mobile has demonstrated its ability to generate strong profitability and cash flows through the economies of scale brought about by the merger with T Star. Looking ahead, Taiwan Mobile will continue to prioritize corporate governance, uphold transparency and integrity, and ensure effective communication with investors and the capital market, creating long-term and sustainable value for all stakeholders.
