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Politics : Formerly About Applied Materials

AMAT 322.73

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Feb 6 3:59 PM EST

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To: StanX Long who wrote (63007)	4/19/2002 1:53:08 AM
From: StanX Long	Read Replies (1) of 70976

Read the Bold Chartered says no fund-raising plans biz.yahoo.com SINGAPORE, April 19 (Reuters) - Chartered Semiconductor Manufacturing Ltd is not planning to raise funds despite lifting capital spending by 25 percent to $500 million this year, chief financial officer Chia Song Hwee said on Friday. ADVERTISEMENT Chia said the balance sheet of the world's third-largest contract maker of computer chips was strong and, contrary to market talk, there was no need to tap capital markets. ``We have about $885 million in cash and cash equivalents plus we have unused credit facilities of about $700 million,'' Chia told Reuters in a telephone interview. ``So there is no issue in terms of funding the increased capex.'' Singapore-based Chartered reported a first quarter net loss of $128.37 million, or 93 cents per diluted American Depositary Share (ADS), after the New York market close on Thursday. The results compared with a loss of 22 cents per share in the first quarter of 2001 but were better than market estimates, prompting some analysts to upgrade the stock. The company said the increased capital expenditure of $100 million will be used for the expansion of its sixth fabrication plant with 0.18-micron and 0.13-micron process technology as well as its all-copper 300-mm facility. The 300-mm start-up has been advanced by one quarter, with initial production now expected late in the third quarter of 2003.

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