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To: tejek who wrote (6033)	9/22/1999 9:20:00 AM
From: DJBEINO	Respond to of 9582

Salomon prepares funds for Singapore CSM (Chartered Semiconductor )listing By Mantik Kusjanto SINGAPORE, Sept 22 (Reuters) - Chartered Semiconductor Manufacturing (CSM) likely found a receptive audience at a closed-door briefing on Wednesday on its flotation plans, industry sources said. Analysts see the company as increasingly attractive, with the Taiwan earthquake's impact on the semiconductor industry giving it a surprise boost. Salomon Smith Barney gave the briefing, the sources said. Salomon has been appointed lead manager for the CSM flotation, with Credit Suisse First Boston (CSFB) as a joint lead manager, they said. ''Salomon is holding a briefing today. I think it's just a kind of pre-marketing effort,'' one market source said. The sources told Reuters earlier that CSM, the world's third largest semiconductor foundry, would likely announce the flotation of its shares before the end of the month. Analysts and fund managers said it was difficult to assess the company and the float because of limited information. But some said CSM was increasingly attractive due to the market's turnaround and its positioning itself to benefit from the high end market. ''You are looking at a turnaround in the industry where demand for chips is coming along very nicely,'' said another industry source, who expected good response to the float. REPORT PAINTS BULLISH OUTLOOK One source said a research report on CSM painted a very bullish outlook, with turnover and earnings expected to rise multiple-fold in the next few years. CSM, a unit of government-owned Singapore Technologies Pte Ltd (ST), would file for dual listings on the technology-heavy Nasdaq in the United States and also the Stock Exchange of Singapore, an industry source had said. ST and CSM officials have declined to confirm the plan. But sources said CSM would issue new shares in the listing amounting to about 20 percent of the group's enlarged share capital. They said CSM would benefit from a temporary chip supply shortage resulting from Taiwan's recent earthquake and also from the fact Singapore was seen as quake-proof. ''The timing can't be more perfect for an IPO. The quake is pointing...that it's probably better to have some relationship with a place that has no earthquakes like Singapore,'' one said. BIGGEST COMPETITORS IN TAIWAN CSM's largest chip competitors are both based in Taiwan, namely Taiwan Semiconductor Manufacturing (NYSE:TSM - news) and United Microeletronics Corporation. According to its financial reports, CSM, headed by American Barry Waite, had a paid-up capital of S$256.60 million. CSM, suffering losses in the past two financial years, was expected to go on a road show by September 27. In the 1998 financial year, CSM said in its annual report it had a net loss of S$304.41 million on turnover of S$700.66 million, compared with a net loss of S$162.37 million on S$557.33 million in 1997. The company aborted a listing plan on Nasdaq three years ago when the semiconductor market took a sharp downturn. But the industry outlook has been buoyant recently and CSM said in May it expected sales to rise more than 40 percent this year. biz.yahoo.com

To: tejek who wrote (6033)	9/22/1999 9:30:00 AM
From: Chi Pan	Respond to of 9582

Guys, the key word is "Chartered" biz.yahoo.com Wednesday September 22, 7:11 am Eastern Time Salomon prepares funds for Singapore CSM listing By Mantik Kusjanto SINGAPORE, Sept 22 (Reuters) - Chartered Semiconductor Manufacturing (CSM) likely found a receptive audience at a closed-door briefing on Wednesday on its flotation plans, industry sources said. Analysts see the company as increasingly attractive, with the Taiwan earthquake's impact on the semiconductor industry giving it a surprise boost. Salomon Smith Barney gave the briefing, the sources said. Salomon has been appointed lead manager for the CSM flotation, with Credit Suisse First Boston (CSFB) as a joint lead manager, they said. ``Salomon is holding a briefing today. I think it's just a kind of pre-marketing effort,' one market source said.

To: tejek who wrote (6033)	9/22/1999 9:44:00 AM
From: DJBEINO	Read Replies (2) \| Respond to of 9582

16m dram doubled in this report: Chip Prices Skyrocket to $17.23 09/22 As expected, Tuesday's Taiwanese earthquake, which paralyzed production lines at Hsinchu Industrial Park in northern Taiwan where seven major chip plants of the island are located, pushed up semiconductor prices by high margins in the world market. Industry sources said yesterday that the price of the mainstay 64-megabit dynamic random access memory (DRAM) chip shot up by $1.65 from $14.41-15.58 Monday, to $15.92-17.23 Tuesday on the spot market of the United States as a result of the Taiwanese temblor that took place shortly after midnight. DRAM chip prices, which have been hovering at the $15 level for the past 10 days, easily crossed the $17 mark Tuesday due to the earthquake, a record high in nearly two years, sources said. Despite the favorable environment, Samsung Electronics share prices plunged 4,500 won to 235,500 won as of 15:10 Wednesday, one day after the jump of 19,000 won Tuesday. But Hyundai Electronics Industries marked a gain of 700 won to 40,500 won, following a climb of 4,600 won Tuesday. Hyundai Semicon, which has been renamed from LG Semicon after a big deal, also climbed 500 won to 28,500 won as of 15:10, following a gain of 3,200 won Tuesday. In the 64-megabit DRAM category, prices of '16X4 synchronous' chip that Taiwanese makers mainly produce have nearly doubled the $7.72-8.35 price on Tuesday to $13.38-14.47 in one day on the spot market, sources said. The soaring prices are in sharp contrast to the 128-megabit chip whose price remained unchanaged as the Taiwanese makers have no production lines for the chip. In the outgoing category of 16-megabit DRAMs, the chip for '4-megabit X4 PC-100' also doubled to $3.19-3.34 a unit Tuesday, from its price of $1.52-1.64 for the past several months. The '4-megabit X synchronous' chip also rose by more than 100 percent to $3.14-3.39 from $1.44-1.56. A Samsung Electronics official said, ''It'll be inevitable for chip prices to continue its rising spree for the time being due to the probable halt of Taiwanese semiconductor plants coupled with the global shortage of supply.'' Taiwan makes up 11-12 percent of the world's DRAM market and accounts for one third of the world's subcontract production of non-memory chips, he said. He said, ''The skyrocketing prices Tuesday were mainly seen in the chips that the Taiwanese make. The rising trend is expected to spread to all categories of DRAM chips.''