First Steamship Co., Ltd. – APEA – Asia Pacific Enterprise Awards

CORPORATE EXCELLENCE

First Steamship Co., Ltd.

Introduction
Established in 1963 and headquartered in Taipei, First Steamship initiated its shipping business aimed at the fast-growing international trade needs in Taiwan at that time and has enjoyed a long-term thriving business expansion as a dry bulk operator since then. First Steamship specialises in transporting major bulk commodities, including iron ore, coal, agricultural products, covering worldwide shipping routes.

In pursuit of continued growth and diversification, First Steamship proceeded to retail business by acquiring 50% of Grand Ocean Retail Group Limited (GORG) in 2006 viewing the surge of middle-class consumption demands in China. GORG’s department stores offer a trendy mix of popular international and domestic brands, with an emphasis on 20-35 youthful urban population, targeting specifically the female customers.

After attaining commercial success in retail business, First Steamship launched its financial leasing business, Mariner Finance Limited, focusing on car leasing markets in China in 2013. First Steamship also established its real estate operation mainly under Royal Sunway Development Co., Ltd. in Taiwan in 2015 and entered financial services in Hong Kong through Morton Securities Limited, which holds a Type 1 (Dealing in Securities) license by the Hong Kong Securities and Futures Commission, in 2016. With a strategy to diversify business, First Steamship now serves a wide range of industries, including shipping, retail, rental, real estate, and financial operation.

Corporate Culture
People are the foundation of an enterprise, and First Steamship highly values its employees. Besides a competitive salary package, the Company provides incentives to improve the welfare of its employees, such as a yearly health checkup and a company trip abroad, as well as extensive training programmes to encourage employees to further develop their professional skills and know-how. First Steamship also integrated multiple paper-based workflows and implemented an enterprise information portal to reduce employee’s workload and repetitive duties. In addition, First Steamship built an HR e-mail box for better communication with employees. The Company strives to create a friendly, balanced, and competitive working environment.

First Steamship also actively participates in various charity events to give back to society. In addition to making donations, the Company sponsors different charity activities such as using the current space in department stores to hold events of caring children without parents, adopting a pet, donations to social vulnerable groups, among others. First Steamship hopes to make a difference in the society and will continue to participate in such activities.

Achievements and Impact
At present, First Steamship operates across a diversified range of industries, including shipping, retail, rental, real estate, and financial operation. For shipping operation, First Steamship currently operates nine vessels, including two Handysize, three Kamsarmax, and four Supramax vessels, with a total dead weight tonnage of approximately 536,581 dwt, serving ports around the world. For retail operation, GORG has become a leading national retail chain currently with operation of 17 department stores in six provinces and one municipality in China. The coverage stretches across three key regions and 12 cities in China. The total operating gross floor area of the department stores amounts to approximately 740,000 square meters.

For rental operation, Mariner Finance has set up stores across 32 cities in China, and been co-developing a carrental platform for travel with major players. For real estate operation, Royal Sunway is principally engaged in the River & Tree Project, one of the rarest large-scale town development projects in New Taipei City, and this project is expected to undergo four phases with an estimated number of thousands of residential households sold eventually. For financial operation, Morton provides full securities trading services for stocks and equity derivatives listed on the Stock Exchange of Hong Kong Limited. First Steamship maintains a diversified portfolio of businesses in varied industries to improve the overall profitability and achieve a better long-term business growth rate, while retains relatively acceptable operating risks.

Future Direction
First Steamship currently operates across various industries in the service sector with a strategy to diversify its business risks and improve the overall longterm rate of return. Besides directly-operated businesses in shipping, retail, rental, real estate, and financial operation, First Steamship also invested different listed enterprises in Asia in the hope of creating better synergy and comprehensive cooperation. The Company values its stakeholders’ benefits and dedicates to its commitment to the society. In addition to enhancing the performance of business portfolio for sustainable growth and desirable profitability in the future, First Steamship will fulfill its social responsibilities and always serve as a positive force in society.

CORPORATE EXCELLENCE

First Steamship Co., Ltd.

Introduction
Established in 1963 and headquartered in Taipei, First Steamship initiated its shipping business aimed at the fast-growing international trade needs in Taiwan at that time and has enjoyed a long-term thriving business expansion as a dry bulk operator since then. First Steamship specialises in transporting major bulk commodities, including iron ore, coal, agricultural products, covering worldwide shipping routes.

In pursuit of continued growth and diversification, First Steamship proceeded to retail business by acquiring 50% of Grand Ocean Retail Group Limited (GORG) in 2006 viewing the surge of middle-class consumption demands in China. GORG’s department stores offer a trendy mix of popular international and domestic brands, with an emphasis on 20-35 youthful urban population, targeting specifically the female customers.

After attaining commercial success in retail business, First Steamship launched its financial leasing business, Mariner Finance Limited, focusing on car leasing markets in China in 2013. First Steamship also established its real estate operation mainly under Royal Sunway Development Co., Ltd. in Taiwan in 2015 and entered financial services in Hong Kong through Morton Securities Limited, which holds a Type 1 (Dealing in Securities) license by the Hong Kong Securities and Futures Commission, in 2016. With a strategy to diversify business, First Steamship now serves a wide range of industries, including shipping, retail, rental, real estate, and financial operation.

Corporate Culture
People are the foundation of an enterprise, and First Steamship highly values its employees. Besides a competitive salary package, the Company provides incentives to improve the welfare of its employees, such as a yearly health checkup and a company trip abroad, as well as extensive training programmes to encourage employees to further develop their professional skills and know-how. First Steamship also integrated multiple paper-based workflows and implemented an enterprise information portal to reduce employee’s workload and repetitive duties. In addition, First Steamship built an HR e-mail box for better communication with employees. The Company strives to create a friendly, balanced, and competitive working environment.

First Steamship also actively participates in various charity events to give back to society. In addition to making donations, the Company sponsors different charity activities such as using the current space in department stores to hold events of caring children without parents, adopting a pet, donations to social vulnerable groups, among others. First Steamship hopes to make a difference in the society and will continue to participate in such activities.

Achievements and Impact
At present, First Steamship operates across a diversified range of industries, including shipping, retail, rental, real estate, and financial operation. For shipping operation, First Steamship currently operates nine vessels, including two Handysize, three Kamsarmax, and four Supramax vessels, with a total dead weight tonnage of approximately 536,581 dwt, serving ports around the world. For retail operation, GORG has become a leading national retail chain currently with operation of 17 department stores in six provinces and one municipality in China. The coverage stretches across three key regions and 12 cities in China. The total operating gross floor area of the department stores amounts to approximately 740,000 square meters.

For rental operation, Mariner Finance has set up stores across 32 cities in China, and been co-developing a carrental platform for travel with major players. For real estate operation, Royal Sunway is principally engaged in the River & Tree Project, one of the rarest large-scale town development projects in New Taipei City, and this project is expected to undergo four phases with an estimated number of thousands of residential households sold eventually. For financial operation, Morton provides full securities trading services for stocks and equity derivatives listed on the Stock Exchange of Hong Kong Limited. First Steamship maintains a diversified portfolio of businesses in varied industries to improve the overall profitability and achieve a better long-term business growth rate, while retains relatively acceptable operating risks.

Future Direction
First Steamship currently operates across various industries in the service sector with a strategy to diversify its business risks and improve the overall longterm rate of return. Besides directly-operated businesses in shipping, retail, rental, real estate, and financial operation, First Steamship also invested different listed enterprises in Asia in the hope of creating better synergy and comprehensive cooperation. The Company values its stakeholders’ benefits and dedicates to its commitment to the society. In addition to enhancing the performance of business portfolio for sustainable growth and desirable profitability in the future, First Steamship will fulfill its social responsibilities and always serve as a positive force in society.