Thank you all for your contribution. On the 37th founding anniversary, we have established outstanding milestones. Based on this solid foundation, we will continue to march forward and embrace the challenges of the New Economy!
While celebrating our anniversary, we would like to take this opportunity to remind you that during this dynamic era, we have to constantly adjust the existing business models. For instance, Far Eastern Memorial Hospital (“FEMH”), after 37 years of continuous efforts, we have already successfully established at a Medical Center level. Various institutional statistics also illustrate that we are advancing steadily. With the government’s endorsement of care system to relieve over crowded patients in the medical centers will undoubtedly bring impact to the hospital operation. In other words, we must adjust our operating model. Furthermore, the lack of medical staff is also a joint difficulty faced by current health care facilities. Hope that the University may expedite the establishment of Nursing College to replenish the shortage of medical manpower.
In addition to business model, supply chain is another critical issue. Especially during the era of New Economy when political and economic scenarios of all nations are closely inter-connected, comprehensive considerations are required. As evident in textile and polyester industry, current raw material is mostly supplied from the Middle East, but with unstable geopolitical concern there, in order to disperse risk, Far Eastern New Century has expanded into the U.S. for the first time in February 2018 to acquire the PET plant of M&G in West Virginia and the R&D base in Ohio, hopefully to ensure future supply chain of raw material. For FEMH, medical supplies including medicine imports, medical care technology developments, planning and training of health care staff, source of patients, are all parts of the complete supply chain. Each and every manager should examine comprehensively, make adjustment, particularly with the advancement of AI and IoT, remote medical care via video connection is no longer a dream. If they are added with the collection and analytics of big data, they will enable the physicians to grasp more quickly and more effectively the conditions of their patients. Thus, enable the hospital to adjust the operating model and its policy to be more adaptive to the New Economy.
In fact, not only FEMH is marching toward a new milestone. The Far Eastern Group will also celebrate its 70th anniversary next year. As the Group leader, I must bear the responsibilities of planning for the next 70 years. The Group’s affiliated 250 companies, in particular the nine public listed corporations should also manage to adapt to the New Economy, adjust supply chain and business model, achieve synergy of science and technology, allowing the whole organization, even staff of each department to transform and grow in order to march forward in the era of New Economy!#