Stats ChipPac: its new 197k sf factory in Singapore will be operational by 4Q12. The new facility, next to its current factory in Yishun, will raise the co's manufacturing space in Spore to 792k sf from 595k sf. The new plant will expand its manufacturing capabilities for advanced wafer level technologies, used to create smaller, sophisticated components used in smartphones and tablets.
The co said it has invested ~ US$250m in Spore over the last 3 years to expand its technology offering and manufacturing capacity. It plans to invest a further US$220 m here over the next few years.
Wafer level packaging is enjoying high growth rates, and the semiconductor industry's demand is outpacing available market output. STATS has been moving towards the fast-growing wireless device industry, away from its consumer home entertainment business, which it said was suffering 'prolonged weakness'.
On the co’s flooded Thai factory, it said operations would remain suspended till this month at least, but expected partial operations to start some time in 1Q12. The plant's suspension from Oct last year was estimated to pull down its turnover in 4Q11 by ~7% qoq.
The group guides for adjusted Ebitda in the range of 20 – 25% of revenue and capex to be ~US$50 – 60m.
Shares closed yday at 43 cts, up half a cent, which translates to 11.1x trailing P/E.
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