Taiwan Railway Corp’s (TRC) losses are expected to reach NT$7.4 billion (US$231.03 million) this year and NT$8.7 billion next year, according to a financial statement provided by the state-owned company.
The former Taiwan Railways Administration, which officially became a state-owned enterprise on Jan. 1, is still operating at a loss, Democratic Progressive Party Legislator Tsai Chi-chang (蔡其昌) said during a committee meeting on Wednesday last week, citing the financial report submitted by the company to the Legislative Yuan.
TRC chairman Tu Wei (杜微) said while briefing the committee on the firm’s operating and financial situation that the company accounts showed the continued losses are mainly due to asset depreciation.
Photo: Peng Chien-li, Taipei Times
However, land asset development and other ancillary businesses are making a profit, he said.
Following the establishment of the corporation, each department of the TRC should have its own business goals, he said, adding that the company should determine how its profit-making units can increase their profitability.
For example, bento boxes generated sales of up to NT$700 million last year, but only NT$100 million in profit, Tsai said, adding that the company should find ways to boost those profits.
The company should also seek to increase revenue from its overhauled historic train stations, he said.
As of the end of last month, tourist trains, including round-the-island Formosa Express trains made 1,167 trips, carrying more than 130,000 passengers, he said, adding that demand is increasing and the company is working with travel agencies to introduce more sightseeing trains to promote tourism.
In addition, since the establishment of TRC, rental income has been about NT$2.36 billion, an increase of 8.86 percent over the same period last year, Tu said.
The company would work to increase revenue through the promotion of new parking lots, electric vehicle charging piles and vending machines, Tu said.
It would also promote the development of 10 stations and surrounding areas this year and next year to boost local business opportunities through land development, enhance brand power and stabilize the income of ancillary businesses, he added.
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