Wednesday, January 18, 2006
ChipMOS Technologies Ltd. has formed a special committee to evaluate the circumstances surrounding the indictment by the Taipei District Prosecutor's Office of Shih-Jye Cheng, chairman and chief executive of the Taiwanese chip packaging and test specialist.
The indictment is in connection with the alleged misuse of corporate funds in 2004 of ChipMOS. “The repurchase notes in question have been fully redeemed with interest,” according to the company. “The indictment does not allege that Mr. Shih-Jye Cheng gained personally from any of the alleged activities.”
ChipMOS also raised its guidance for the fourth quarter 2005. It currently expects its fourth quarter 2005 revenue to be in the range of $129-to-$132 million.
On Nov. 15, 2005, ChipMOS expected revenue for the fourth quarter 2005 to be in the range of $125-to-$130 million.
Taiwan has seen its share of scandals in recent times. Robert Tsao, the chairman of foundry giant United Microelectronics Corp., recently resigned just hours before being indicted in Taiwan for allegedly making illegal investments in a Chinese foundry. UMC vice chairman John Hsuan was also indicted and has resigned his post.
By: DocMemory
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