TAIPEI (TVBS News) — The head of Shin Kong Financial Holding Co. (新光金控) on Tuesday (Sept. 3) likened the company's merger to a marriage, emphasizing the pursuit of long-term happiness and sustainable development.
The boards of Shin Kong Financial and Taishin Financial Holding Co (台新金控) have agreed to a 100% share swap merger. However, CTBC Financial Holding Co. (中信金控) has launched a hostile takeover bid for Shin Kong.
In a press conference, President Stephen Chen (陳恩光) stressed the importance of shareholder rights while also highlighting the need for a win-win scenario for employees, customers, and shareholders, akin to a happy marriage involving more than just the couple.
Chen elaborated that a successful marriage requires mutual understanding and not just superficial attraction. He noted the importance of employee happiness, which leads to better service quality and, ultimately, customer satisfaction.
From the bride's perspective, Chen said, future happiness hinges on the well-being of employees, which in turn boosts business opportunities.
Chen acknowledged that Taishin Financial essentially belongs to the broader Shin Kong group, sharing similar values. He expressed confidence that this shared empathy would set them apart.
Chen concluded by emphasizing the criticality of keeping Shin Kong's name after the merger for its branding values.