Time to work at Evergreen. Taiwan here I come!

[BabyBlade]

TAIPEI – Taiwanese shipping giant Evergreen Marine has rewarded employees with massive year-end bonuses worth between 10 and 52 months of salary each, after posting bumper 2022 profits.

Local media outlets reported how most of the company’s junior workers with a monthly salary of NT$40,000 (S$1,750) took home a bonus worth NT$2 million each last weekend, which is equivalent to four years’ pay.

The 2022 payout is even higher than the 40 months’ bonus that the company paid in 2021, which had set a record at the time for the highest year-end bonus ever paid by a listed Taiwanese company.

Thanks to the rebound of global container shipping lines following pandemic lockdowns, as well as soaring shipping prices, the company reported a net profit of NT$304.35 billion for the first three quarters of 2022. The 2022 financial year earnings are expected to be released in March 2023.

“The company had good earnings and lots of surplus cash. As it is not aggressively expanding its business operations, it gave some of that cash in the form of bonuses to reward employees, which I think is very reasonable,” said Professor Chiou Jiunn-rong, an economics expert from the National Central University in Taiwan.

Evergreen Marine did not immediately respond to The Straits Times’ request for comment, though it previously told local reporters that workers were compensated based on their performance.

[Ct3833]

How come NOL not making money?

[Volvobrick]

7 minutes ago, Ct3833 said:

How come NOL not making money?

I am sure it is making tons of money after it was sold. 

[Sosaria]

This was an oversight on the part of evergreen. They ended up with so much cash and were caught flat-footed with no plans on spending it on the business. So LL have to declare massive profits and pay out the resultant record bonuses - as usually there are predetermined agreement signed with worker unions. Am sure they will plug this gap next year

 

[Wt_know]

oil company say oil price up because russia war

shipping company say price up because high oil price

simi sai company say price up because operating cost up 

next will be airline declaring massive bonus for skyrocketed 1000% demand from travellers

then bonuses no 50-100 months no talk

profit comes from where? who is the robert paying high price?

 

Edited January 4, 2023 by Wt_know

[inlinesix]

41 minutes ago, Ct3833 said:

How come NOL not making money?

 

[Jamesc]

A but too late.

Last year fright rates was very high.

Today it is 75% lower.

Baltic dry index today only 1,250

[Atonchia]

😂 I still choose Sheng Siong.

 

[Ct3833]

1 hour ago, Sosaria said:

This was an oversight on the part of evergreen. They ended up with so much cash and were caught flat-footed with no plans on spending it on the business. So LL have to declare massive profits and pay out the resultant record bonuses - as usually there are predetermined agreement signed with worker unions. Am sure they will plug this gap next year

 

At least the excess cash goes to the employees, many listed companiese do not do that, any additional profits will go to the CEO and his cronies as share options. 

[Inlinefour]

1 hour ago, Volvobrick said:

I am sure it is making tons of money after it was sold. 

fatass only eat shit sleep...ha ha ha...oops took umbrage too ...wakaka 

[Inlinefour]

15 minutes ago, Atonchia said:

😂 I still choose Sheng Siong.

 

errr is sit bcos in law of pinky huh ... although lower than evergreen ...shhhh 

[Atonchia]

3 minutes ago, Inlinefour said:

errr is sit bcos in law of pinky huh ... although lower than evergreen ...shhhh 

Though SS also paid 1year bonus?

[Inlinefour]

11 minutes ago, Atonchia said:

Though SS also paid 1year bonus?

most staff 1 month only

 

only some manager got 1 year 

 

thats why my friend cry pa cry ma...ha ha ha

[Carbon82]

Beat this!! 

South Korean Oil & Gas Company Announces 120 Months In Bonuses For Employees

2022 was a good year for the oil and gas industry, as global oil prices surged due to various factors.

Now, the employees of Hyundai Oilbank are about to reap the rewards as the company just announced that it will be giving out 120 months in bonuses.

The amount dwarfs that of shipping company Evergreen, which recently made headlines for announcing bonuses of up to 52 months.

According to The Korea Herald, Hyundai Oilbank saw its profits increase by 226% in the third quarter of 2022 alone.

From that, the South Korean petroleum and refinery company generated S$2.9 billion (2.8 trillion won) in profits.

As it result, its employees were given 1,000% of their annual salaries, or 120 months’ bonus pay.

[Kopites]

https://mothership.sg/2023/01/south-korea-oil-company-1000-percent-bonus/

 

[Soya]

3 hours ago, Volvobrick said:

I am sure it is making tons of money after it was sold. 

Donch say so loud. Skali got ppl take umbrage den u noe hor...

 

[Kyrios]

And these are the same people who claim to have 'foresight' over the oppies..yet they sold chartered semi, offloaded NOL/SPC cheaply and gambled on crypto..

But interestingly they will do everything to sustain Shitty Times...so as to retain their ownself praise ownself mouthpiece..

Edited January 4, 2023 by Kyrios

[inlinesix]

1 hour ago, Kyrios said:

And these are the same people who claim to have 'foresight' over the oppies..yet they sold chartered semi, offloaded NOL/SPC cheaply and gambled on crypto..

But interestingly they will do everything to sustain Shitty Times...so as to retain their ownself praise ownself mouthpiece..

Any biz venture runs by public servants confirm will fail.
It was set up for a purpose. When that purpose completed, it is EOL.

I guess the only biz in Sg that cannot fail is SQ. That’s the ole man baby.

Shitty Times was ran by public servants as cash cow for its shareholders. When almost every cents was paid to its shareholders as dividends, it under invest on long-term future.

I guess without SPH, mothership and whatever alternative media has nowhere to cope news. I know a lot of you don’t read Shitty Times. Do we want our Regional News influenced by western media only?

Despite being anti-CCP, i stop reading news about China from American media.