The Far Eastern Group, of which mobile telecom carrier Far EasTone Telecommunications (FET) is a member, is likely to attain aggregate net profits of more than NT$100 billion (US$3.4 billion) in 2011, according to group president and FET chairman Douglas Hsu.

With members engaged in the petrochemical and cement sectors, as well as fixed-line/mobile communications, chain department stores, shipping and banking services, the group generated aggregate revenues of over NT$500 billion and net profits of NT$90 billion in 2010, Hsu indicated.

Because the Taiwan telecom market is almost saturated, FET's revenue growth relies on promoting sales of mobile value-added services and smartphones in Taiwan as well as tapping the China market, Hsu said.