TAIPEI, TAIWAN - MediaOutReach - 8 October 2019 - Twelveoutstanding Taiwanese entrepreneurs and organisations were honored at therecently concluded Asia Pacific Entrepreneurship Awards 2019 or APEA, led byFar Eastern Group's Chairman and CEO, Douglas Tong Hsu and Hiwin TechnologiesCorp.'s Global Chairman and CEO, Dr. Eric Y.T. Chuo at Shangri-La's Far EastPlaza, Taipei.

An initiative byEnterprise Asia, the leading non-governmental organization for entrepreneurshipin Asia, APEA is the largest regional recognition program, with over 3,000nominations received each year, and less than one tenth of that receiving theawards in all 14 markets. With the theme of 'Promoting Inclusive EconomicDevelopment Through Sustainable Entrepreneurship', over 300 attendees werepresent at the by-invitation only event, comprising of industry leaders anddignitaries.

Leading the list ofwinners was Mr. Douglas Tong Hsu, Far Eastern Group's Chairman and CEO whoreceived the award under Special Achievement Award.

About Mr. Douglas Tong Hsu

Mr. Hsu began hisprofessional career at Citibank, NY, before returning to Taiwan and joining theFar Eastern Group in 1971.  In 1979, hewas appointed President of FETL (later renamed Far Eastern New Century), andwas later appointed to Chairman of the Group. Mr. Hsu holds a B.A. and M.A. from the University of Notre Dame,Indiana, and pursued post-graduate economics at Columbia University. Mr. Hsualso holds an honorary doctorate of management from National Chiao TungUniversity, Taiwan awarded in 2002.

In 2016, Mr. Hsuwas bestowed with the Order of Brilliant Star with Grand Cordon by thePresident for his contributions to Taiwan. He was also listed as one of theOutstanding Corporate Sustainability Professionals in 2018 by Taiwan CorporateSustainability Awards. He was named in Taiwan's Top 50 Best Performing CEOs byHarvard Business Review in 2016 and 2018.

From the Group'sfounding motto of "Sincerity, Diligence, Thrift and Prudence," Mr. Hsu addedone vital principle of "Innovation". According to him, "Scientific andtechnological innovation creates business opportunities, as well as globalcompetition. As world consumption patterns and competitors are changing, so wemust persist in innovation and development to sustain our existence."

With a passion forhigh-tech products, Mr. Hsu is watchful of new developments in the high-techindustry. Far EasTone Telecommunications, for example, has in the currenthigh-tech climate now grown into the Group's largest platform for innovation."We have not taken the easy road. We have persisted in a very comprehensivesystem in operations, but without innovation and the ability to overcomechallenges, Far Eastern Group would not have reached its current scale,"

While each businessunit is administered individually, a rapidly changing and increasinglydigitized environment is demanding more connectivity between the group'sconstituent parts. "Each business needs to be aligned with the group's overallcorporate governance requirements," he says. "The companies we own can nolonger operate as stand-alone entities. The situation is going to get even morecomplicated and challenging with the arrival of Artificial Intelligence (AI)and the Internet of Things (IoT)." 

The businessclimate is ever-changing. "We may not have all the answers to what the futurehas in store, but one thing I am certain will not change is that the Group willadhere to its core values" Mr. Hsu shares. The Group will adapt to new trendsand keep abreast of the latest challenges, thus creating new momentum forgrowth and making the Group a paradigm of a premier global enterprise. 

About Asia Pacific Entrepreneurship Awards

Launched in 2007,the Asia Pacific Entrepreneurship Awards is the region's most prestigiousawards for outstanding entrepreneurship, continuous innovation and sustainableleadership. The Award provides a platform for companies and governments torecognize entrepreneurial excellence, hence spurring greater innovation, fairbusiness practices and growth in entrepreneurship. As a regional award, itgroups together leading entrepreneurs as a powerful voice for entrepreneurshipand serves as a by-invitation only networking powerhouse. The program has grownto encompass 14 countries and markets all over Asia. For further information,visit www.apea.asia.