HUKOU, Taiwan--(BUSINESS WIRE)--Sanyang Industry Co. Ltd. (TPE: 2206) announced today that influential proxy research firm Institutional Shareholder Services (“ISS”) has recommended that shareholders vote FOR ALL agenda items proposed by the Sanyang Board of Directors at the Company’s upcoming May 20, 2013 AGM.

This news follows on the advice published last week by proxy research firm Glass Lewis, which also recommended that shareholders vote FOR ALL agenda items proposed by the Sanyang Board of Directors.

“Unanimous support from the major proxy research firms is a strong indication that the Company is headed in the right direction,” said Sanyang Board Chairman Shi H. Huang in a recent letter to shareholders.  “The Board and all our employees have been working especially hard these last few years boost shareholder value through core business optimization and improved corporate governance.  FOR recommendations from both independent governance research firms is an important underscoring of our ongoing commitment to our shareholders, and we are very grateful for the international investor community’s endorsement.”

Important items on the agenda at Sanyang Industry’s upcoming AGM are amendments to the Articles of Incorporation containing major corporate governance improvements and approval of the Company’s financial reports and dividend distribution proposal.

“The corporate governance changes we have proposed include additional independent directors and the adoption of the nomination system for ALL Directors and Supervisors,” said Chairman Huang.  “Because these governance changes are not yet required by Taiwan regulations for a company of our size, these governance improvements will place us ahead of the curve and further enhance shareholder value.”

Another key ballot item is the proposal to renegotiate with Mei Fu Construction for better apportionment of profits to Sanyang regarding the Company’s joint land development project in the Neihu District of Taipei, one of Taipei’s most attractive and fastest-growing business districts.

“One of the main pillars of our long-term shareholder value creation plan is improved capital structure management, and proper development of our land assets is an essential part of this effort,” said Chairman Huang in his shareholder letter.  “Moreover, we feel that Sanyang shareholders deserve better profit apportionment terms for the Neihu Land Development Project than the ones set five years ago with Mei Fu Construction Company.  The most valuable asset of the Neihu property development project is our land itself, which has more than doubled in value these past few years.  We want to make sure that our shareholders reap fair returns.” 

More information regarding the shareholders’ meeting is available on the Sanyang Industry IR web page:  http://www.sanyang.com.tw/en/news/index.php?cat=2

About Sanyang Industry

Sanyang Industry Co., Ltd., founded in 1954, is the sole international enterprise in Taiwan that manufactures and sells both motorcycles and automobiles. Its manufacturing and sales network covers over 75 countries. Over the past half century, Sanyang has built an extensive sales and service network and has established strong alliances with other world class corporations. In the process, the Company has developed a deep roster of management talent and strong devotion from customers loyal to its brand. In a hyper-competitive era, the Company has maintained its roots firmly in Taiwan, while basing its blueprint for expansion on innovation, excellence and commitment to the greater good of human society.

Sanyang Industry shareholders are reminded to submit proxies by 10:30 am ET on May 10, 2013. Shareholders who have questions, need help voting, or would like to speak directly with a board representative can contact Alliance Advisors at +1-973-873-7717 or twallace@allianceadvisorsllc.com.