Following the recent successful contract award from PETRONAS in Malaysia, CTCI once again delivers a bright record in implementing its southbound strategy by securing the JG Summit Stage-1 Expansion Package 2 Aromatics Extraction and Butadiene Extraction Unit Project in the Philippines. The contract signing ceremony between JG Summit Petrochemical Corporation and CTCI was recently held in Manila in December 2017. This project is an important milestone which marks CTCI’s re-establishment in the Philippines market, having completed the LVN Isomerization and Gas Oil Hydrotreater units project with Petron, the largest oil refining and marketing company in the Philippines.

JG Summit Petrochemical Corporation is a wholly-owned subsidiary of JG Summit Holdings, Inc., one of the largest publicly-listed trading companies in the Philippines, with business areas covering petrochemicals, telecommunications, power, food and beverage, retail, banking, publishing, aviation, real estate and property development. JG Summit Petrochemical Corporation is currently the country’s largest manufacturer of polyethylene and polypropylene resins, while its affiliate company, JG Summit Olefins Corporation, owns and operates the first and only naphtha cracker plant in the Philippines.

With years of active development in the Southeast Asia market, CTCI has garnered JG Summit’s trust, which has commissioned CTCI for this contract with its outstanding technological expertise and competitiveness in the global market. Once the project is completed, the local market will be able to enjoy more competitive petrochemical products from a well-integrated supply chain, starting with the naphtha cracker facility upstream, and with the butadiene, aromatics, polyethylene and polypropylene plants downstream, all located within the JG Summit Petrochemicals Complex.

Saudi Basic Industries Corporation (SABIC), one of the three largest petrochemical producers globally, has provided project management services for its affiliate Saudi Kayan Furnace-10 and Olefin Debottlenecking Project (SKF-10 Project) contracted with CTCI. CTCI had completed Furnace-10 (Cracking Furnace Package) on July 31st, 2017, and the olefin Debottlenecking (ODBN) related works was completed on 15th December 2017, which includes improving of cooling water circulation system, adding an extraction tower system, and improving the performance for part of column. The annual output of ethylene will be augmented by up to 12.2 %.

SKF-10 Project is located in the Jubail Industrial City. Executing the revamping works in the existing olefin-recycling unit requires further compliance with the operating plant, which presents a challenge to the project team. Under the stringent and complicated operating environment, the owner conducts regular EHSS audits and nationwide work safety competitions; Project team was able to accumulate 1.6 million safety hours without lost time injury and even selected as winner of Best EHSS Mega Project Performer in 2nd Quarter 2017 for outperforming contractors from worldwide. This achievement has strengthened CTCI’s track record in the Middle East for winning customer trust with exceptional quality.

The CTCI Education Foundation Scholarship award, each valued at NT$100,000, was presented to 9 outstanding students at a ceremony held on Dec. 16, 2017, at the headquarters of CTCI.

Speaking on the occasion, the Group shared services CEO, Ming-Cheng Hsiao hoped that CTCI would be able to nurture the domestic engineering talent through this scholarship, and help the students make their contribution to the whole society at large.

CTCI has established this scholarship in 2011, and formed CTCI Education Foundation in 2016 to cultivate and reward outstanding young students. This year, the evaluation of the scholarship has been made more rigorous involving scrutiny of academic achievement, recommendations from faculty, monographic study proposal. CTCI hopes that these efforts would strengthen the link between the industry and academia, and help students learn the practices followed by the industry.

The guests at the ceremony included Prof. Yu-Chee Tseng from NCTU, Prof. Shi-Lin Hung from NCTU, Prof. Xuan- De Hu from NCKU, Associate Prof. Xing-Yang Chung from NCKU, Prof. Zhao-Zhang Chen from NTUST,Prof. Sheam-Chyun Lin from NTUST, Prof. Cheng-Chien Kuo from NTUST, winners of the scholarship and their families, and the departmental heads of CTCI.

After the conclusion of the ceremony, a tea party was arranged wherein the invited students, faculty, and managers of CTCI interacted with each other to help the students gain a knowledge of the functioning of CTCI.

The following is the list of the winners of 2017 CTCI Education Foundation scholarship:
‧Department of Chemical Engineering, NTU: Hsiang-Hsuan Cheng
‧Department of Mechanical Engineering, NTUST: Yu-Song Haung
‧Department of Electrical Engineering, NTUST: Ting-I Su
‧Department of Civil Engineering, NCTU: An-Hou Hsu, Pei-Chin Wu
‧Institute of Network Engineering, NCTU: Chun-Che Wu
‧Department of Civil Engineering, NCKU: Jyun-Cheng Jhuo, Yu-Hung Pai
‧Department of Computer Science and information Engineering, CCU: Yu-Wei Wen

With years of cultivation and development in the Malaysia hydrocarbon market, CTCI contracted RAPID P1 RFCC Project of PETRONAS in 2014 with a contract value of USD 1 billion. The strong innovative technological expertise and project execution capability of CTCI in the P1 Project has won the owner’s recognition and trust, which led PETRONAS to once again commission CTCI together with MIE Indurstial Sdn Bhd, CTCI's local partner, for the RAPID Package 28B EPCC of Euro 5 Mogas CNHT2, Isomerization, TAME and Tankage Project this November. The contract signing ceremony has been held successfully in Kuala Lumpur.

PETRONAS Malaysia’s fully integrated oil and gas embarked on the Pengerang Integrated Complex (PIC) which comprises of the Refinery and Petrochemical Integrated Development (RAPID) and associated facilities. The project has attracted much attention from major international EPC contractors vying for the bid. By securing the Package 28B contract, CTCI becomes the only EPC contractor to win 2 refinery contracts within the PIC.

CTCI has established the CTCI Engineering & Construction Sdn. Bhd. in Malaysia back in 1983, aiming to explore and cultivate the local hydrocarbon market and get hold of the business opportunities of power plant constructions. Once the new project is delivered, the plant will produce high quality gasoline product in compliance with the stringent EURO-5 emissions standard, striking a balance between economic development and environmental protection in Malaysia.

The United Nations announced 17 Sustainable Development Goals in 2016, and the 14th goal is "to conserve and sustainably use the oceans, seas and marine resources for sustainable development." With its long-term commitment to environmental sustainability, the CTCI Group has demonstrated the determination and resolve to protect the marine ecology by adopting the Tamsui Yangdiaozi Coastal Segment in New Taipei City in hopes to drive the public's attention to protect the beautiful coasts of Taiwan through enterprise participation.

The first beach cleanup event took place on Nov. 25. The CTCI employees and their family members steadfastly patrolled the beach to pick up trash regardless of the weather, and the volunteers and their family members have worked together to clean up the adopted one kilometer seawall segment by picking up styrofoams, glass bottles, waste tires, plastic bottles, fishing nets, and other trash and drifting garbage to clean up the sea wall surface.

CTCI Group believes that the continuation of the coastal adoption plan is key to creating a sustainable homeland. In addition to the n Nov. 25 cleanup, CTCI will also participate in two additional coastal cleanup events on April 21, 2018 (Sat.) and June 23, 2018 (Sat.). CTCI hopes to use the power of the enterprise to continue to invite employees, their family members, and the general public to join forces to protect the marine environment; and take actions to realize the importance of marine environment sustainability.

Taiwan’s largest turnkey project contractor CTCI Group’s subsidiary CTCI & HEC Water Business Corporation was contracted for the Chungli Sewerage System BOT Project. The project’s groundbreaking ceremony was held on November 16. Upon completion, the project will establish a water recycling center and sewerage pipeline system capable of serving more than 600,000 people in approximately 200,000 households and help the city government to achieve the city-wide household connection targets of 32% for the current phase and 60% in the future, in order to reduce river pollution and substantially improve the overall quality of living environment for Taoyuan residents.

CTCI & HEC Water Business Corporation is a joint venture of CTCI and Hsin-Dar Environment Corporation. The project is the largest BOT project in Taiwan in recent years and its concession period is up to 35 years. Its main function is to help solve the long-standing problem of domestic sewage in southern districts of Taoyuan City. CTCI is the largest turnkey EPC project contractor in Taiwan with decades of solid performance of large plants constructions. It is the top firm in engineering contracting industry in Taiwan and the only Taiwanese engineering firm to be recognized as a global top 100 engineering firm. Hsin-Dar Environment Corporation is the benchmark enterprise specializing in water treatment. It has plenty of experience and outstanding past performance as an industry leader. “The project as a cooperation of professionals in joint venture of two strong industry leaders will successfully improve the city appearance and environment, living quality, strengthen urban development as scheduled and with high quality to achieve the win-win-win situation for the government, citizens, and enterprises,” CTCI Group Chairman John T. Yu promised.

“Public Sewerage system is an important index of city advancement improvement. The project successfully obtained investment through the hard work of city government team. The nation’s largest turnkey project contractor CTCI and Hsin-Dar Environment Corporation with its extensive environmental engineering implementation experience jointly obtained the right of investment and construction for this project. I believe that with the joint effort of city government executive team and private companies with environmental engineering implementation experience, the Chungli Sewerage System will be completed with high quality and efficiency,” Taoyuan City Mayor Wen-Tsan Cheng also stated in the groundbreaking ceremony.

The handover ceremony of the CTCI SEC President was held at CTCI SEC office on November 1, 2017 at 11:00 A.M. The ceremony was administered by Group Intelligent Solutions Business CEO Hwei-Nan Yih. Board Supervisor Connie Lin, CTCI ASI Chairman Evan Chen and CTCI REI President Din-go Ku were invited to attend the ceremony. The simple but solemn ceremony concluded with success.

On October 21st 2017, CTCI Group’s biennial sports day was held at Taipei Xiehe Youde High School. Employees of overseas subsidiaries were specially invited to attend this grand event. The slogan of the sports day was “Living CTCI Culture, Showing CTCI Brand”, which combined the two key elements that the Group emphasizes this year: Rebranding and Explore CTCI Corporate Culture Journey. Group Chairman John T. Yu expected CTCI colleagues to demonstrate the corporate culture: Professionalism, Integrity, Teamwork and Innovation through the competitions held, and declared the determination of CTCI to become “The Most Reliable Global Engineering Services Provider”.

In addition to the traditional tug of war competition which symbolized “Teamwork”, there were several events such as mountain climbing which symbolized “Integrity” and two corporation culture demonstration games corresponding to “Professionalism” and “Innovation” spirit. By taking part in these activities, employees could both take exercise and understand CTCI corporate culture better.

Furthermore, there were delicious food stands, pun cars and pizza shops, children’s playground and DIY gift, VR 3D interactive zone and charity bazaar at the sports day. CTCI colleagues not only had great fun but also experienced the energy and enthusiasm of CTCI

CTCI, renowned as a leader in the provision of reliable engineering services, has run resource cycling business for 20 years. In order to expand international business, CTCI implemented one rebrand plan of KD Holding Corporation, a subsidiary of CTCI, the largest corporation providing environmental resource management services in Taiwan, to build a new “ECOVE” brand logo, a “Every Resource Counts” slogan and announce to the world that we are the most reliable provider of industry-leading “resource cycling” services.

Founded in 1999, KD Holding started with garbage incineration. Gradually, KD Holding has expanded its business including the waste removal, wastewater treatment and resources recycling, and solar photovoltaic and developed overseas markets in Mainland China, Macao and USA. “KD Holding boasted NTD 5 billion in revenue in 2016 with market capitalization stood at NTD 11.6 billion,” CTCI chairman John Yu said during the ECOVE brand press conference.

KD Holding, having been continuously honored with many awards for several years and scored high in aspects of corporate governance, business service, environmental protection and social engagement, has not gained much recognition from behind the scenes role. “It’s time to market KD Holding. ECOVE brand would add brilliance to KD Holding and let the world learn more about us,” Yu said.

J.J. Liao, chairman of ECOVE Environment Corporation (formerly KD Holding Corporation), said that the well-known subsidiaries of ECOVE in Taiwan, including ECOVE Environment Services Corporation(信鼎), ECOVE Waste Management Corporation(暉鼎), ECOVE Wujih and Miaoli Energy Corporation(倫鼎/裕鼎) would be still using the original Chinese name.

On the other hand, the company has come up with supervision and control consulting services of nine urban incineration plants in Mainland China and taken in charge of operating two urban incineration plants and one hazardous and special waste treatment plant in Macao. “But awareness is still not enough on global market. In order to expand international business, we decided to launch the ECOVE brand and renew official website, uniform, and service cars with the new corporate identity,” Liao said.

“The ECOVE, composed of the meanings of ecology and trove, represents that the company is ready to excavate, find, and reuse the infinite treasures on the earth, ”Liao explained to the media.
Liao also indicated that the Every Resource Counts slogan would be the colleagues’ operation mode and work ethic in the future to provide the best resource cycling services.

With the intense competition, Liao states that ECOVE Environment Corporation’s competitors are from around the world. By means of integrating the corporate identity of all subsidiaries and launching the ECOVE globe brand, the company is eager to enhance international visibility, making investors, proprietors and the government recognize its commitment to expand international business, and promote the competitiveness of Taiwan's resource recycling industry.

G.D. Development Corporation (GDDC), a subsidiary of the global engineering services provider CTCI, has long been dedicated to photovoltaics development; the efforts have been recognized with the Golden Peak Awards for the outstanding enterprises and enterprise initiators. The award ceremony was held at the Convention Center of CPC Building on Sep. 22th. GDDC President B. J. Liang accepted the award on behalf of the company.

Established in 2011, GDDC has completed dozens of photovoltaic plant development, investment, operation & maintenance projects. In addition to optimizing Taiwan’s environment for photovoltaic systems, GDDC has utilized this successful experience to develop US market and held entire ownership and managerial authority of the Lumberton Photovoltaic Power Plant located in the state of New Jersey, U.S.A.
The Golden Peak Awards, authenticated by Outstanding Enterprise Manager Association(OEMA), has 18 years of history and are set as ways to support technical innovation and cultivate international competition. The OEMA expected GDDC to keep mastering the economic pulse, implement technological innovation and move toward globalization. GDDC promised that it will be committed to the development of a sustainable low carbon and strengthen energy management.

Yearly "Zhishan Magnificence - Shilin Cultural Festival" concert made its debut on August 6th in the lobby of CTCI Group headquarters. The concert was headlined by Taiwan Mandolin Ensemble and CTCI Mandolin Ensemble, joined by Taipei Conductor Chamber Ensemble and Youth Orchestra. The groups brought a melodious opening to this year's Shilin Cultural Festival. The cultural festivities will happen every weekend for a month and a half at the following venues including The Xiqu Center of Taiwan, Shilin Parent-Child Center, Tianmu White House, Chien Mu House, Kuo Yuan Ye Museum of Cake and Pastry, and Sogo Tianmu Store. Local youths and performance art groups will bring their exciting performances to the events.

"Zhishan Magnificence - Shilin Cultural Festival" is a key annual event in the Shilin/Tianmu area, co-hosted by The Zhishan Ecological Garden and CTCI Education Foundation. This year marks the event's seventh year. The event seeks to bring local enterprises, schools, and cultural groups together. According to Ming-Cheng Hsiao, CTCI Group Shared Services and CTCI Education Foundation CEO, CTCI Group wishes to uphold the spirit of "global development, local prosperity" as a member of a local enterprise. With long term support for the environment and culture development in the Shilin area, not only does CTCI Group sponsor activities and participate in performances, it has also invited Love Soap, a social welfare group for the autistic or mentally disabled people to join in at the event and host charity sales. CTCI Group also set up an environmental protection experience booth during its "Music Marathon & Water & Green Environment Experience Day" event closing ceremony, sharing knowledge on how to protect the environment with their professional engineering expertise to further local development and environmental education.

"Shilin is a treasure trove of culture and arts that is rich in history and is an excellent residential environment," said CTCI Education Foundation and Taiwan Institute for Sustainable Energy Chairman Eugene Chien. "CTCI hosts this meaningful event every year in hopes to bring the local community together through mutual efforts in interaction and feedback between local enterprises, communities and youths. We hope to stimulate and pass on the local history and culture together."

G.D. Development Corporation (GDDC), a subsidiary of the global engineering services provider CTCI, has completed construction of a 2MW photovoltaic power facility at Tainan's Cheng-Hsi Refuse Incineration Plant. The two-hectare facility, completed on August 14th, is part of a two-phase development project that will have a total capacity of 12MW when fully completed in 2018, and which sits atop an idle landfill that once served the Tainan county area.

The new facility will supply 550 households with electricity throughout the year, and serves as a role model for the use of idle landfills in Taiwan.

GDDC, whose tender met the project’s stringent requirements in 2016, has assumed responsibility for equipment investment, construction, management, and maintenance. Electricity generated by the new facility will be sold to the Taiwan Power Company, generating a financial return for the Tainan city government, whilst also benefiting local communities.

“2017 Youth Sustainability Leadership Camp” held by CTCI Education Foundation (CTCI EF) and Taiwan Institute for Sustainable Energy (TAISE) lasts four days from August 1 to August 4, where 36 participants selected from 20 universities all over Taiwan receive courses offered by experts and corporate executives on United Nations Agenda 2030 and UN Sustainable Development Goals (SDGs), while broadening horizons and world perspectives. Finally, 10 students were selected as outstanding youth leaders, who will be able to attend the upcoming Bonn, Germany, UNFCCC COP23 summit to gain practical experience in international affairs and undertake youth international exchange.

The camp lasted four days and three nights, allowing participants to gain a deep appreciation of the United Nations Agenda 2030, and SDGs, by exploring the dimensions of each nation’s “International Sustainability Environment”, “International Sustainable Society” and ”Corporate Sustainability Strategies”; students are able to learn the trend of climate change that is impacting the world, and sustainable engineering conducted at Taiwan and abroad as well as environmental and energy policies. Additionally, these participants had to complete multiple missions, all of which were presented solely in English; the “Model UN SDGs Working Group Mission Reports” were especially arduous in that each participant had to undertake the role of a diplomat, while simulating each nation’s positions and environmental policies, then presenting their national position in a speech presentation, which tested the participants abilities to work independently, resolve problems and to work in collaborative teams.

CTCI EF Chairman Chien expects that these young leaders will serve as outstanding talent for the corporate world, playing important leadership roles in helping realize the 17 UN SDGs, while also exerting their influence for sustainable development promotion. CTCI EF Executive Director Ming-Cheng Hsiao also expresses his sincere wish that through this camp, these youth talents will be able to work together to help realize a sustainable future with global views.

The CTCI Education Foundation (CTCIEF) and the Taiwan Institute for Sustainable Energy (TAISE) are co-hosting the nationwide “120h Taiwan in My Eyes” event. Twelve teams composed of twelve local and 36 foreign students, from nine schools around Taiwan and 24 countries around the world, take part in the five-day competition to tour around the island. The first stop on their tour, on July 3, was the headquarters of CTCI, and a wrap-up presentation and final evaluation was held at the same venue on July 13th. Eugene Chien, Chairman of CTCIEF and of TAISE, Mr. Ming Cheng Hsiao, Executive Director of CTCI EF, and CEO of Prof. Young Ku, CEO of TAISE jointly served as judges and presented the participating teams with event scholarships. The presentations provided excellent audiovisual and textual contents in Chinese and English explaining the 120 hours of in-depth discovery of Taiwan and adventure along the way with the student’s observations and sharing on social network platforms describing their daily journals, discovery, experiences, and feelings as they encountered Taiwan’s people, places and things, using photographs and short videos to narrate the student’s complete and exciting participation, allowing the world to continue to further enjoy greater international visibility of Taiwan.

Locations in this event include CTCI, Shin Kong Life, the Hsinchu Science Park Bureau (HSPB), the Miaoli Incineration Plant, Taichung City Government, and Far Eastern Department Stores' Top City Taichung Store. On-site visits will allow the visitors to see Taiwan's strengths in global construction; long-term social concern; ecological and environmental education; scientific innovation capacity; city government service effectiveness; the transformation of the department store distribution service industry; and the inheritance and sustainability of major manufacturing industry. Every day, the team members will use dozens of languages to realize the goal of sharing across global social media for 120 hours. Through their perspectives and the mutual sparks of inspiration they help to set off, the visibility of Taiwan's strengths in sustainable development will be greatly heightened.

As a citizen in the international engineering and business sectors, CTCI doesn't only create world-class paragons of EPC project executions around the globe. CTCI has also established the CTCI Education Foundation to proactively improve the standard of education, train superb talent, encourage academic research, institute life-long learning, and promote national competitiveness. This event brings domestic benchmark businesses, science parks and local government together in partnership. Through on-site visits and in-depth exploration, local and foreign students will come to experientially learn about the sustained meaning and concrete results of life, education, enterprise, ecology and culture in Taiwan. And, through sharing their observations and deep impressions of Taiwan's food, clothing, housing, transport, education, fun and beauty on social media, they will share with the world how Taiwan is moving toward sustainable development.

As the new era of industry 4.0 dawns upon us, the trend of smart living has already become unstoppable and CTCI Group Intelligence Solutions Business (GISB) has actively assisted the global industry and clients in the wave of digital transformation. In COMPUTEX 2017 held on May 30th and June 1st, CTCI Advanced Systems Inc. (CTCI ASI) showed strong industrial Augmented Reality/Mixed Reality (AR/MR) application capabilities along with OPTC/We Jump. While in the International Symposium on Automation and Robotics in Construction 2017 (ISARC 2017) on June 28th to June 30th, CTCI Smart Engineering Corporation (CTCI SEC), CTCI Resources Engineering Inc. (CTCI REI), and CTCI ASI shared CTCI’s smart technology strength with experts worldwide and a speech was given on“BIM EPC Project Collaboration Platform”.

To fully develop its smart technology capabilities, GISB from CTCI has incorporated five affiliate companies with experience and smart technologies in order to accumulate engineering experience in areas such as smart infrastructure, building automation, intelligent transportation and high-tech plants. CTCI SEC, with expertise in electrical engineering, offers smart services for clients in the field of high-tech construction, high-rise buildings and infrastructure. CTCI REI, with background in civil and transportation engineering, is the top choice for turnkey projects in public construction. CTCI ASI is a leading company in industrial automation, smart manufacturing and electrical control system integration. CTCI will continue to offer tailor-made intelligent solutions with advanced technology and innovative thinking, for integrated services that are reliable, smart and sustainable.

With rich experiences in infrastructure and E&M system integration and capabilities in development of smart cities, CTCI was invited to attend the 3rd Smart City India 2017 Expo held in May, and a seminar on Taiwan-Singapore cooperation for India smart city development in June. CTCI has shared its strength in construction services, smart technologies, as well as experiences in developing India market, hoping to seize the new business opportunity in smart city development in India.

The 3rd Smart City India 2017 Expo was commenced in Pragati Maidan, New Delhi, with India Urban Development Ministry Secretary Rajiv Gauba, and Chairman and Managing Director (CMD) of India Trade Promotion Organization L. C. Goyal attended the ceremony in person. Ms. Wang Mei-hua, Vice Minister of Economic Affairs, ROC was invited to give a speech, declaring Taiwan’s sound innovative technologies, product supply and total solution service in the field of smart cities. The “Taiwan Pavilion”, established by Taiwan External Trade Development Council (TAITRA), is the largest national pavilion among the 20 participating nations, and 500 plus participating vendors.

Afterwards, a seminar was then organized by System Integration Promotion Alliance (SIPA) project office, MOEA, and International Division of the Institute for Information Industry. The aim is to facilitate exchanges regarding a new development program acquired by Singapore business entities in Andhra Pradesh, India, for future new capital city Amaravati, a planned smart city and to exchange technical expertise with Taiwan’s enterprises, establish mutual relationship and strive for business opportunities.

CTCI has rich technological know-how and experiences in areas like waste water treatment, waste treatment, green energy, and smart building. In 2008, CINDA Engineering & Construction Pvt. Ltd. (CINDA) was established in India, with the aim to effectively cultivate India market, and build track records locally. CTCI ASI from Group Intelligent Solutions Business, on the other hand, is Taiwan’s leader in industrial automation, intelligent manufacturing, E&M and systems integration. In the days to come, CTCI will seek business partners in overseas market development, building potential business cooperation. CTCI and CINDA will join hands to promote CTCI’s infrastructure capabilities and related value-adding intelligent services, and effectively develop smart city markets, hoping to assist India in constructing an ideal environment for smart transportation and smart cities, scaling up cooperation between Taiwan and India in support of Taiwan government’s new southern policy with its expertise.

CTCI Corporation held its annual General Shareholders Meeting on 28th June, 2017 in Tianmu Convention Center, Mellow Fields Hotel. During the meeting, the motions included 2016 business report, financial statements, distribution of fiscal year 2016 earnings, amendment of the Company’s “Rules Governing Procedure for Making of Endorsements or Guarantees” and “The Procedure for Acquisition and Disposition of Assets” were all carried.

According to the Business Report, the consolidated sales revenues amounted to NT$70,509,675 thousand in 2016, increased by 5.15% from the year 2015. The consolidated net income after tax reached NT$2,222,888 thousand, increased by 8.93% compared with the year 2015. In 2016, total new contract awarded to CTCI group was about NT$85,635,766 thousand. Major projects awarded are TYCG Chungli Sewerage System BOT Project, KCG Fengshan WWRU BTO Project, KSA Saudi Kayan No. 10 Furnace Project (FEED+EPC) , TPC Dah-Tarn Emergency GTG EPC Project, USA FPC-Tx Offsite Pipe Rack Modularization & Erection EPC Project. Most remarkably, the group’s new contract amounts, backlog amounts and consolidated sales revenues in 2016 broke a record high, marking CTCI Corp’s successful business operations . In addition, cash dividend payable to shareholders of NT$1,984,512,005 was approved in the Shareholders Meeting (TWD 2.60 per share based on 763,273,848 common outstanding shares).

Meanwhile, the election of the Company’s 14th term Directors was hold, and the lifting of newly-elected directors of non-competition restrictions was carried as well. Twelve directors were elected (including three Independent Directors) for the 14th term with tenure of three years. In addition, the ex-dividend date and the base date for dividend were determined to be on July 26th, 2017 and August 1st, 2017 in the Board Meeting held the same day.

ECOVE Environment Corporation held its annual General Shareholders Meeting on 26th June, 2017 in 505 Room, Mellow Fields Hotel. During the meeting, the motions including 2016 business report, financial statements, distribution of fiscal year 2016 earnings, amendment of ”The Procedure for Acquisition and Disposition of Assets” and “Articles of Incorporation” were all carried.

According to the Business Report, the consolidated revenues amounted to NT$4,955,565 thousand in 2016, increased by 21.5% from the year 2015. The consolidated net profit after tax reached NT$848,097 thousand, increased by 19.39% compared with the year 2015. In addition, cash dividend payable to shareholders of NT$757,172,620 was approved in the Shareholders Meeting (TWD 11.37 per share based on 66,593,898 common outstanding shares).

Meanwhile, the election of the Company’s 7th term Directors was held, and the lifting of newly-elected directors of non-competition restrictions was carried as well. Nine directors were elected (including three Independent Directors) for the 7th term with tenure of three years. In the same day, the Ex-rights (ex-dividend) record date for dividend were determined to be on August 1st, 2017 in the 1st meeting of the 7th Board of Directors.

The 2017 Annual General Shareholders’ Meeting of CTCI Advanced Systems Inc. (CTCI ASI) was held at Taipei Computer Association Executive Club Room 501, June 22, 2017. In the meeting, the Company’s 2016 business report, financial statements, and distribution of 2016 profits were adopted; the directors of the 11th term were reelected. In addition, the amendments to the Company’s “Articles of Incorporation”, “Rules Governing the Election of Directors”, “Rules Governing Procedure for Making of Endorsements or Guarantees” and “Procedure for Acquisition and Disposition of Assets” were approved.

According to the business report released, the consolidated sales revenues of CTCI ASI. in 2016 is NT$1,138,973 thousand; the net Income reaches NT$72,408 thousand; the earnings per share (EPS) after tax is NT$3.08. In the 2017 Annual General Meeting of Shareholders, it was resolved that the cash dividend payable to shareholders will be NT$58,869,031. At the same day, the 1st meeting of the 11th term of the Board of Directors was held. The ex-dividend date was set on August 1, 2017.

Taipei, TAIWAN – CTCI and INVISTA, a leading licensor of process technologies, have entered a Strategic Cooperation Framework Agreement for strategic collaboration on possible PTA projects in the world markets. Both Parties have agreed to work closely in pursuit of PTA licensing opportunities and believe that the synergies created between CTCI’s engineering services and INVISTA’s depth of experience in technology will be a win-win for both.

CTCI has been in close cooperation with INVISTA in Taiwan and China for decades, and would like to expand the successful experience into new areas of the world. “With INVISTA’s connection with clients in the polyester value chain, CTCI could have early involvement during client’s project development stage, which will bring more opportunities to provide CTCI’s reliable engineering service to clients,” said M.H. Wang, Deputy CEO of CTCI Group Engineering Business.

Mr. Mike Pickens, President, INVISTA Performance Technologies, commented, “Over the past several years, we have been working closely with CTCI to execute major capital investments in PTA. The signature of this strategic cooperation framework agreement is another milestone in our evolving relationship. I look forward to a strong collaboration of both parties in creating long term value in the PTA industry worldwide.”

According to 2017 industrial trend research, PTA demand is projected to grow globally at approximately 4%/year which would drive capacity addition averaging 3MM tpa/year. Both Parties believe the alliance will not only add value for potential customers, but also help capture the PTA opportunities in the coming years.

April 22 is the Earth Day celebrated worldwide, and Environmental Protection Administration, Executive Yuan organized “2017 Beach Clean-up and Adopting” campaign throughout the island. CTCI was invited to attend the opening press conference on April 10 and partake in related activities.

CTCI has long been promoting and developing in green engineering and resource cycling business, expecting to protect the environment and requite the society with our engineering expertise. By responding to this campaign, we hope to connect with local environmentalists, community organizations and volunteers, and become a guardian of Taiwan’s coastlines to contribute our share for environmental protection. By far, 341 units throughout the island have taken part in this beach adopting campaign, while the total coastline adopted is 347 km.

As the global trend of corporate sustainability rapidly develops, CTCI Education Foundation (CTCI EF) and Taiwan Institute for Sustainable Energy (TAISE) co-founded the Taiwan Sustainability Guildhall and held an opening ceremony on April 20, 2017. Through cooperation, we hope to promote the knowledge, experience, and innovative initiatives on corporate sustainability issues such as sustainable engineering and sustainable energy as well as establishing a firm foundation for friendly exchanges and mutual prosperity between industry, government, and academia.

CTCI Group Chairman John Yu stated that, CTCI is one of Taiwan's exemplars as an international engineering company. Their mission is to be the locomotive in promoting sustainable engineering both domestically and abroad. Moreover, CTCI focuses on and ensures the implementation of corporate social responsibility practices through engineering, the company's core strength. In 2016 CTCI founded the CTCI Education Foundation. The aim is to raise educational standards, cultivate outstanding talent, provide incentives for academic research, build an environment which encourages lifelong learning, and improve Taiwan's competitive edge. Over the years CTCI has accumulated abundant experience and knowledge in the field of engineering both domestically and abroad. They hope to pass on their legacy to make their contributions to education and public welfare.

Eugene Chien, Chairman of CTCI EF and TAISE, stated that, to respond to the global sustainability trend, Taiwan Sustainability Guildhall will use the 17 Sustainable Development Goals (SDGs) passed by the U.N. in 2016 and relevant actions as its core values. Also, the Guildhall will actively collaborate with companies, industries, think tanks, and government agencies to lead the trend of sustainable development in Taiwan, facilitate cross-strait and international exchanges, and nurture professional talent in the field of sustainability to realize the vision of a sustainable future in Taiwan.

SABIC announces safe and successful Mechanical Completion (MC) of SAMAC MMA (methyl methacrylate) and PMMA (polymethyl methacrylate) project executed by CTCI Corporation on 06 April 2017. With the MMA plant being the world's largest for single stream output of MMA, CTCI has successfully assisted KSA petrochemical industry in reaching the next milestone. During project executions, CTCI also demonstrated superior EHSS performance and has been awarded with 3 green flags through the project phase, making project as an annual model for best EHSS project throughout SABIC.

Located in Al-Jubail Industrial City, Saudi Arabia, the MMA and PMMA plant is owned by Saudi Methacrylates Company (SAMAC). In recent years, KSA is actively planning to set up petrochemical industrial zones and developing petrochemical-related downstream industries to produce products like MMA and PMMA, all with an aim to increase the added value of basic petrochemical products. CTCI has been successfully executing various similar projects in the Kingdom, building itself solid records and remarkable reputation in the Middle East. Now with the SAMAC MMA and PMMA Project delivered on time and to quality standard, it has once again won Client’s trust and recognition, realizing its vision of being the Most Reliable Global Engineering Services Provider.

The handover ceremony of CTCI REI’s new President was held at CTCI REI’s office on April 12th, 2017. Mr. Kuo-Ann Wu, the Chairman of CTCI REI was the overseers of the ceremony.

Mr. Hwei-Nan Yih, CEO of Group Intelligent Solutions Business, Mr. Patrick Lin, Chief Financial Officer of CTCI, Mr. S. C. Chun, Chairman of CTCI SEC and Mr. Yin-Fan Liu, President of CTCI ASI, were also invited to participate and witness the ceremony as well as RESI’s supervisors and crew.

Mr. Wu, chairman of CTCI REI, expressed gratitude to the former President of CTCI REI, Mr. Michael Chung, for his efforts and contributions during his term and also welcomed the arrival of the new President, Mr. Dingo Ku.

Wu also expect President Ku will demonstrate innovation and actions to target the sustainable development as CTCI REI’s main consensus.

Yih, CEO of GISB encouraged REI to make progress continuously in her business under the leadership of Chairman Wu and President Ku and keep on collaborating with ASI and SEC to create new business opportunity in future.

The ceremony successfully concluded with the blessings of the guests and participants.

CTCI held its first investors conference at the International Convention Center of National Taiwan University Hospital on March 29th. 2017. Three companies under CTCI group, CTCI Corporation, CTCI Advanced Systems Inc. (CTCI ASI), and KD Holding Corporation, reported the signed new projects and financial highlights in 2016, market review, business outlook and operation strategies in every region. The conference drew almost one hundred participants, including the institutional investors, bankers, and journalists.

The accumulated new contracts of CTCI amounted to NTD 85.6 billion, while the backlog of contract was NTD 203.2 billion and the consolidated sales revenues stood at NTD 70.5 billion by December 31st, 2016; the three achieved record highs. The gross profit margin was 8.8%, while the net income after tax amount was NTD 3.01 billion and the EPS after tax was NTD 2.92; all were better than the previous year. Major projects awarded in 2016 were Chung Li Sewerage System BOT Project, Feng Shan Shi Wastewater Reclamation BTO Project, Dah-Tam Gas-Fired Simple Cycle Generators Emergency EPC Project (except for the generators and HV equipment), FPC USA Offsite Pipe Rack Modularization & Erection EPC Project, FPC USA Utility-3 Power Plant Basic Design Project, Saudi Kayan Ethylene Cracking Furnace and Ethylene Plant Expansion EPC Project, Petronet Dahej LNG Terminal Expansion Regasification Facilities EPC Project, and SafPet LLC PTA/ PET Basic Engineering Design Project. Looking into the future, the business strategies of CTCI are to continuously cultivate the relationship with the existing clients and actively develop the new markets; hire the local management team and build up comprehensive EPC capability in order to expand the market scope in USA; cooperate with China Export & Credit Insurance Corporation to make it easier for the owner to receive finance guarantees, which is beneficial for CTCI to win EPC projects.

For CTCI ASI, the backlog of contract amounted to NTD 1.37 billion by December 31st, 2016, while it is up to NTD 1.89 billion until now, an even brighter performance than the previous year would surely be expected. As of December 31st, 2016, the consolidated sales revenues amounted to NTD 1.14 billion, while the gross profit margin was 17.4%; the net income after tax was NTD 70 million and the EPS after tax was NTD 3.08. Major projects awarded in 2016 included the areas of main automation contract (MAC), transportation and electro-mechanical, intelligent manufacturing, and energy saving, emission reduction, and industrial safety. Looking into the future, the business strategy is to extend the application from DCS/PLC to IIoT, and combine the IIoT platform with BIM Lifetime developed by CTCI ASI, in order to fulfill the purpose of intelligent industry in the future and bring continuous revenues for the company.

For KD Holding, as of December 31st, 2016, the consolidated sales revenues amounted to NTD 5 billion, while the gross profit margin was 36.3%; the net income after tax was NTD 1.43 billion, and the EPS after tax was NTD 12.8; all were much better than the previous year. Major projects awarded in 2016 included the areas of EfW (including maintenance of mechatronics system) and waste management, solar power, and circular economy. Looking into the future, the business strategy will focus on the resources recycling, and take EfW and waste management, solar power and circular economy as core business, to maximize the existing business and develop the new markets.

Laffan Refinery 2 (LR2), one of the largest condensate refineries in the world contracted by CTCI and Chiyoda of Japan as a joint venture, was inaugurated on February 20. His Highness Sheikh Tamim bin Hamad Al-Thani, Emir of the State of Qatar, inaugurated LR2 which represents a step on the road to a better future for the State of Qatar as mapped by the Qatar National Vision 2030.

The grand event was held at Qatar National Convention Center. Guests attending the ceremony included Mr. John T. Yu, CTCI Group Chairman, Mr. Terrence Wu, General Manager of CTCI Qatar Branch, Mr. Hiroshi Ogawa, Senior Executive Vice President of Chiyoda, Mr. Arata Sahara, Senior Vice President of Chiyoda, Mr. Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum, and Mr. Khalid Bin Khalifa Al Thani, CEO of Qatargas. The completion of LR2 not only symbolizes a transformation in the oil and gas sector but also marks the success of long term business partnership between Taiwan and the Middle East.

With the inauguration of LR2, it is expected that Qatar’s condensate refining capacity will be doubled to 292,000 barrels per day. LR2, along with LR1, is important to strategically strengthen Qatar’s energy mix and solidifies its position as the world’s largest condensate producer with the largest refining capacity in the world. Most importantly, the ultra low sulfur diesel and other products of LR2 meet stringent Euro-5 standards and are ideal to satisfy the current demand for high quality oil products.

CTCI has executed an Ethylene Tank Project of Qatar Petrochemical Company in Qatar dated back to 2012. In 2013, CTCI successfully contracted Laffan Refinery 2 in Ras Laffan Industrial region in Qatar with Chiyoda as a joint venture. The project is implemented within schedule in 39 months. With an excellent record reached in this project, CTCI will continue to serve clients and win their recognition by delivering reliable services in the days to come.

The handover ceremony of the Chairman & President of CTCI Smart Engineering Corporation (CTCI SEC) was held at CTCI SEC office on February 2, 2017. The handover ceremony was administered by Group Intelligent Solutions Business CEO Hwei-Nan Yih. The former Chairman S. W. Luo handed over the company seal to the newly appointed Chairman David Chu and former President David Chu handed over the official seal to the newly appointed President Benjamin Sun.

Board Supervisor Andrew Tsai, CTCI REI Chairman Kuo-Ann Wu, CTCI ASI President Vincent Liu, CTCI ASI EVP Benjamin Tsai, and CTCI Shanghai President Chang-Ning Tzou were invited as honorable guests to witness the ceremony. The simple but solemn ceremony was successfully concluded.