Hon Hai Precision Industry Co. kept its title as Taiwan's top enterprise in terms of sales for 2009, even though its revenue figure fell 3.56 percent from a year earlier, indicating an impact from the global economic meltdown, according to the results of a survey released Tuesday. According to the survey results released by China Credit Information Service, Hon Hai, the world's largest electronic component contract maker, posted NT$1.42 trillion (US$43.96 billion) in sales for 2009 to take the top position for the fifth consecutive year. It was the first decline the company had experienced since 1990, according to the survey results. Cathay Financial Holding took the No. 2 title, posting NT$930 billion in sales, followed by Quanta Computer's NT$750 billion, CPC Taiwan Corp.'s NT$735 billion and Formosa Petrochemical's NT$643 billion. All four firms also suffered year-on-year declines in sales. The survey, which covered a total of 5,000 enterprises operating in Taiwan from old economy companies to the high tech and service sectors, showed that the total sales of the 5,000 firms fell 6.11 percent from a year earlier to a combined NT$28.96 trillion, the lowest level in three years. Among the top 500 enterprises, 219 enjoyed revenue growth and the number of firms was the lowest since 1990. 'Although 2009 was a year of economic recovery at home and abroad, the survey demonstrates that the recovery was not as strong as had been previously expected, ' CCIS editor in chief Liu Jen told selfnews. Meanwhile, Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, posted the highest net profit of NT$89.22 billion, followed by Hon Hai's NT$75.69 billion, Chunghwa Telecom's NT$43.76 billion, Formosa Petrochemical's NT$39.19 and CPC Taiwan's NT$37.65 billion. The survey results show that while net profits of the top 500 firms rose to NT$894.7 billion in 2009 from NT$184.7 billion a year earlier, the total reached just 57 percent of the NT$1.58 trillion recorded in the boom year of 2007. Among the top 500 firms, 71 suffered losses in 2009, down from 115 that recorded losses in 2008 but still higher than the 47 registered in 2007 and the 62 recorded in 2006. 'This is also evidence that the economic recovery has not been significant enough. The higher profits came largely from their efforts in cost control, falling raw material prices and foreign exchange gains,' Liu said. Looking ahead, Liu said, the debt problems in Europe could compromise global consumption, while China's monetary tightening measures are also likely to impact demand. 'We remain cautious about the second half of 2010,' he concluded. 