Same as late Mr JBJ died of heart failure, Taiwanese god of economy bye bye.
經營之神永別／台塑「7人小組」接班 87歲王永在坐鎮
NOWnews 更新日期:2008/10/16 13:48 財經中心／綜合報導
台塑創辦人、經營之神王永慶在美國病逝的消息傳回台灣，台塑集團上上下下陷入哀傷氣氛，有員工默默流淚，還有員工到現在還不敢相信這是真的。為了穩定軍心，台塑七人決策小組一早就進行會議，直到中午都還沒有對外發表進一步訊息，只簡單對外發出新聞稿，證實王永慶已經病逝。
經營之神王永慶病逝的消息傳來，台塑集團上上下下陷入哀傷氣氛，員工們不願多說，有人默默流淚，還有人到現在還不相信這是真的。部分員工說，「當然會很悲傷啊！(記者：董事長是一個讓您很感念的人)對、對、對。」
其實王永慶身體不適的消息外傳已久，日前王永慶還特地公開露面打破傳言，帶著夫人子女前往美國視察公司的生產線和產房，沒想到15號卻傳出呼吸不順、心肺衰竭而病逝的消息。
台塑七人決策小組16日一早就進行會議，期間只對外發表一份新聞稿，證實王永慶病逝享年92歲，而台塑全體員工也會秉持創辦人的精神，繼續打拚下去。(新聞來源：東森新聞記者范益華、張翊誌)
Formosa Founder Wang, Taiwan's Second Richest, Dies (Update1)
By Yu-huay Sun and Tim Culpan
Enlarge Image/Details
Oct. 16 (Bloomberg) -- Wang Yung-ching, the son of a tea farmer who transformed a small rice store into Taiwan's largest industrial group, has died.
Wang passed away in his sleep in the U.S. yesterday, Formosa Plastics Corp., his flagship company, said in a stock exchange filing today. Wang, who turned 91 in January, was Taiwan's second-richest person with a net worth of $6.8 billion.
Taipei-born Wang started selling rice in 1932 as his first business before founding Formosa Plastics Corp., a PVC maker, in 1954. The company expanded into Formosa Plastics Group, Taiwan's biggest diversified industrial company.
Known as the ``God of Management'' in Taiwan -- echoing Japan's honorific for Konosuke Matsushita, founder of Matsushita Electric Industrial Co. -- Wang hadn't attended a shareholder meeting since 2002. He stepped down as chairman of the group's major units in 2006. The parent company is now run by a seven-person executive board headed by nephew William Wong and daughter Susan Wang.
``He left behind him a petrochemical kingdom,'' said Chen Ting-ko, a management professor at Taipei's Tamkang University and a former Formosa executive, who has known Wang for 35 years. ``It's like a dragon, which can live in the waters, on the ground and in the sky.''
Oil to Semiconductors
Formosa Plastics is the parent of at least 40 companies and organizations. Subsidiary Formosa Petrochemical Corp. is Taiwan's only publicly-listed oil refiner. Formosa Plastics Corp. is the island's biggest maker of polyvinyl chloride, or PVC. Nan Ya Plastics Corp. is the world's largest processor of plastics for pipes and imitation leather.
Wang had traveled to the U.S. on Oct. 11 to check on the company's operations, Formosa Plastics Corp. said.
``Our patriarch has dedicated all his life to his enterprises,'' Wong, who was appointed chairman of the group's executive board in 2006, said in an open letter to company employees. ``Even at the last stage of his life, he still cared about the companies' business closely, traveling thousands of miles to inspect operations.''
With factories in China, Indonesia, Taiwan, the U.S. and Vietnam, Formosa's products range from semiconductors, textiles, to detergents.
Born in Hsintien township outside Taipei, Wang borrowed money when he was 15 to open the rice store.
Home Deliveries
He won customers by offering services such as home deliveries, earning enough to buy his first piece of land. At 26 he started a lumber business, which blossomed after World War II as construction boomed.
In 1954, Wang switched focus, using his $500,000 fortune to set up Formosa Plastics, according to ``The History of Wang Yung-ching's Struggle'' by Kuo Tai (Yuan-Liou Publishing Co., 1985). He saw the potential of PVC, which is used in flooring and pipes.
``Having earned his fortune from scratch, stayed clear- headed after becoming rich, and been forward-looking in ideas and lived a simple life, Chairman Wang represented Taiwan's core value,'' Ma Ying-jeou, the island's president, said in a statement today.
Ma had run the 5000 meter race with Wang in Formosa Plastics Group's athletic meetings and admired Wang's ``determination,'' according to the statement.
Ma ``was impressed'' to be invited to have oysters and noodles, a Taiwanese dish, with Wang two years ago after the group's annual gathering, it said.
Biggest Companies
Three of the biggest 10 companies on the Taiwan Stock Exchange are members of the Formosa Plastic Group.
``The group's operation should see little impact from Wang's death, since he ceded his power to a professional management team a few years ago,'' said Robyn Hsu, who helps oversee $4.9 billion of funds at Capital Investment Trust Corp. in Taipei. Hsu doesn't own Formosa stocks. ``His companies have operated soundly under a peaceful power transfer.''
Formosa Petrochemical fell 3.4 percent to NT$70.5. Nan Ya Plastics dropped 3.5 percent to NT$44.6, while Formosa Plastics Corp. declined 3.3 percent to NT$52.1. The benchmark Taiex index slumped 3.3 percent.
The shares have tumbled more than 30 percent in the past year, tracking declines in global share markets, as a credit crisis grips economies and threatens a worldwide recession.
``We all have to turn our sadness into strength,'' said Wong. The executive board ``has been able to shoulder great responsibilities, leading our group steadily forward,'' he said.
Taiwan's richest man is Tsai Hong-tu, chairman of Cathay Financial Holding Co., with a net worth of $8.5 billion, according to Forbes magazine.
To contact the reporters on this story: Yu-huay Sun in Taipei at [email protected]; Tim Culpan in Taipei at [email protected].
Last Updated: October 16, 2008 05:24 EDT
經營之神永別／台塑「7人小組」接班 87歲王永在坐鎮
NOWnews 更新日期:2008/10/16 13:48 財經中心／綜合報導
台塑創辦人、經營之神王永慶在美國病逝的消息傳回台灣，台塑集團上上下下陷入哀傷氣氛，有員工默默流淚，還有員工到現在還不敢相信這是真的。為了穩定軍心，台塑七人決策小組一早就進行會議，直到中午都還沒有對外發表進一步訊息，只簡單對外發出新聞稿，證實王永慶已經病逝。
經營之神王永慶病逝的消息傳來，台塑集團上上下下陷入哀傷氣氛，員工們不願多說，有人默默流淚，還有人到現在還不相信這是真的。部分員工說，「當然會很悲傷啊！(記者：董事長是一個讓您很感念的人)對、對、對。」
其實王永慶身體不適的消息外傳已久，日前王永慶還特地公開露面打破傳言，帶著夫人子女前往美國視察公司的生產線和產房，沒想到15號卻傳出呼吸不順、心肺衰竭而病逝的消息。
台塑七人決策小組16日一早就進行會議，期間只對外發表一份新聞稿，證實王永慶病逝享年92歲，而台塑全體員工也會秉持創辦人的精神，繼續打拚下去。(新聞來源：東森新聞記者范益華、張翊誌)
Formosa Founder Wang, Taiwan's Second Richest, Dies (Update1)
By Yu-huay Sun and Tim Culpan
Enlarge Image/Details
Oct. 16 (Bloomberg) -- Wang Yung-ching, the son of a tea farmer who transformed a small rice store into Taiwan's largest industrial group, has died.
Wang passed away in his sleep in the U.S. yesterday, Formosa Plastics Corp., his flagship company, said in a stock exchange filing today. Wang, who turned 91 in January, was Taiwan's second-richest person with a net worth of $6.8 billion.
Taipei-born Wang started selling rice in 1932 as his first business before founding Formosa Plastics Corp., a PVC maker, in 1954. The company expanded into Formosa Plastics Group, Taiwan's biggest diversified industrial company.
Known as the ``God of Management'' in Taiwan -- echoing Japan's honorific for Konosuke Matsushita, founder of Matsushita Electric Industrial Co. -- Wang hadn't attended a shareholder meeting since 2002. He stepped down as chairman of the group's major units in 2006. The parent company is now run by a seven-person executive board headed by nephew William Wong and daughter Susan Wang.
``He left behind him a petrochemical kingdom,'' said Chen Ting-ko, a management professor at Taipei's Tamkang University and a former Formosa executive, who has known Wang for 35 years. ``It's like a dragon, which can live in the waters, on the ground and in the sky.''
Oil to Semiconductors
Formosa Plastics is the parent of at least 40 companies and organizations. Subsidiary Formosa Petrochemical Corp. is Taiwan's only publicly-listed oil refiner. Formosa Plastics Corp. is the island's biggest maker of polyvinyl chloride, or PVC. Nan Ya Plastics Corp. is the world's largest processor of plastics for pipes and imitation leather.
Wang had traveled to the U.S. on Oct. 11 to check on the company's operations, Formosa Plastics Corp. said.
``Our patriarch has dedicated all his life to his enterprises,'' Wong, who was appointed chairman of the group's executive board in 2006, said in an open letter to company employees. ``Even at the last stage of his life, he still cared about the companies' business closely, traveling thousands of miles to inspect operations.''
With factories in China, Indonesia, Taiwan, the U.S. and Vietnam, Formosa's products range from semiconductors, textiles, to detergents.
Born in Hsintien township outside Taipei, Wang borrowed money when he was 15 to open the rice store.
Home Deliveries
He won customers by offering services such as home deliveries, earning enough to buy his first piece of land. At 26 he started a lumber business, which blossomed after World War II as construction boomed.
In 1954, Wang switched focus, using his $500,000 fortune to set up Formosa Plastics, according to ``The History of Wang Yung-ching's Struggle'' by Kuo Tai (Yuan-Liou Publishing Co., 1985). He saw the potential of PVC, which is used in flooring and pipes.
``Having earned his fortune from scratch, stayed clear- headed after becoming rich, and been forward-looking in ideas and lived a simple life, Chairman Wang represented Taiwan's core value,'' Ma Ying-jeou, the island's president, said in a statement today.
Ma had run the 5000 meter race with Wang in Formosa Plastics Group's athletic meetings and admired Wang's ``determination,'' according to the statement.
Ma ``was impressed'' to be invited to have oysters and noodles, a Taiwanese dish, with Wang two years ago after the group's annual gathering, it said.
Biggest Companies
Three of the biggest 10 companies on the Taiwan Stock Exchange are members of the Formosa Plastic Group.
``The group's operation should see little impact from Wang's death, since he ceded his power to a professional management team a few years ago,'' said Robyn Hsu, who helps oversee $4.9 billion of funds at Capital Investment Trust Corp. in Taipei. Hsu doesn't own Formosa stocks. ``His companies have operated soundly under a peaceful power transfer.''
Formosa Petrochemical fell 3.4 percent to NT$70.5. Nan Ya Plastics dropped 3.5 percent to NT$44.6, while Formosa Plastics Corp. declined 3.3 percent to NT$52.1. The benchmark Taiex index slumped 3.3 percent.
The shares have tumbled more than 30 percent in the past year, tracking declines in global share markets, as a credit crisis grips economies and threatens a worldwide recession.
``We all have to turn our sadness into strength,'' said Wong. The executive board ``has been able to shoulder great responsibilities, leading our group steadily forward,'' he said.
Taiwan's richest man is Tsai Hong-tu, chairman of Cathay Financial Holding Co., with a net worth of $8.5 billion, according to Forbes magazine.
To contact the reporters on this story: Yu-huay Sun in Taipei at [email protected]; Tim Culpan in Taipei at [email protected].
Last Updated: October 16, 2008 05:24 EDT
