Mega Bills Finance Celebrates 50th Anniversary; Chairman Tung Jui-pin Hopes for New Peaks

(CNA, Taipei, May 20, by reporter Su Ssu-yun) Mega Bills Finance held its 50th-anniversary celebration tea party today. Tung Jui-pin, Chairman of Mega Financial Holding, stated his expectation for Mega Bills Finance to continue playing its role effectively on its existing foundation, making the best contribution to Taiwan's financial industry, economic development, and corporate funding needs, hoping for it to reach new peaks in the next 50 years. Mega Bills Finance was established in 1976, becoming Taiwan's first professional bills finance company. The 50th-anniversary tea party was held this afternoon at the Guangfu Hall in Zhongshan Hall, attended by figures including Mega Financial Holding Chairman Tung Jui-pin, Mega Financial Holding President Chang Chuan-chang, Mega Bills Finance Acting Chairman Chen Shih-yi, Director General of the Central Bank's Department of Banking Hsieh Feng-ying, and a hundred corporate clients. In his speech, Tung Jui-pin mentioned that 50 years is a remarkable achievement for both individuals and companies. He recalled visiting Chung Hsing Bills Finance, the predecessor of Mega Bills Finance, as a student in National Taiwan University's economics department. At that time, Taiwan's financial market had not yet opened to private banks, and during the process of economic development, financing was needed. Providing short-term financing tools to the business community through bills subsequently led to the development of many other bills companies like Chung Hwa Bills Finance and International Bills Finance. Looking ahead, Tung expressed his hope that Mega Bills Finance will continue to perform its role well on its current foundation, making the best contribution to Taiwan's financial sector, economic growth, and corporate funding demands, and aspiring to create new peaks in the next 50 years. In his address, Chen Shih-yi stated that looking back at the past half-century, Mega Bills Finance has shouldered the important mission of connecting the money market, injecting vitality into it, and supporting business development. He thanked the company's staff for their hard work and the financial industry peers for their long-standing trust, which have led to today's achievements. Looking forward, with the rapid changes in the global financial environment, Mega Bills Finance will continue to be a source of vitality for the money market, jointly moving towards an even more brilliant next 50 years. In an interview after the event, Chen Shih-yi said that with the current U.S. Treasury yield as high as 4.6%, the company might slightly reduce its foreign currency bond position in response. The profitability and asset-liability management of bills companies are affected by the interest rate environment. While a rate cut was anticipated for this year, the changing external environment means the challenge this year is the possibility of further rate hikes. He noted that management must work harder, striving for a full-year after-tax profit of NT$2.8 billion.