Despite COVID-19, state-owned liquor company to give big bonuses

Focus Taiwan
Date: 12/15/2020
By: Wu Chia-jung and Frances Huang

A TTL alcohol plant in Chiayi. CNA file photo

Taipei, Dec. 15 (CNA) Taiwan Tobacco & Liquor Corp. (TTL), a state-owned cigarette and liquor brand, said Monday that it will issue year-end bonuses equal to 4.4 months of salary because of strong results in 2020 despite the adverse effect of COVID-19 on spending.

Speaking to reporters, TTL Chairman Ting Yen-che (丁彥哲) said the company beat its internal goal of NT$7.8 billion (US$277 million) in pretax profit for 2020 after posting a profit of NT$8.12 billion in the first 11 months of the year.

TTL will also likely achieve the 2020 pretax profit target of NT$8.6 billion set by the Ministry of Finance because it is only about NT$500 million away, Ting said.

"So TTL is expected to issue no less than 4.4 months of salary in year-end bonuses ahead of the Year of the Ox," which will begin in February 2021. "It is unchanged from the previous year despite the COVID-19 pandemic."    [FULL  STORY]

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