Friday, March 14, 2003
Chartered said a lack of funds for investment could lead the company to fall behind new production plant and lose credibility as a foundry supplier. The company is looking for partners to help it equip a 300-mm wafer fab.
The company's recent annual report said "We expect to incur substantial capital and research and development expenditures in connection with our growth plans and will require additional financing that may not be available."
The company said the capital expenditure budget for 2003 is about $275 million compared to $964 million in 2000, $490 million in 2001 and $420 million in 2002.
Chartered, controlled by the Singaporean government through private entity, stressed that it has been lossing money since its inception and is not sure the trend will reverse in the near future.
By: DocMemory
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