|By Marketwired .||
|April 28, 2014 05:30 AM EDT||
SINGAPORE - 28 APRIL 2014 -- (Marketwired) -- 04/28/14 -- STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP) (SGX: S24), a leading provider of advanced semiconductor packaging and test services, today announced that it has received Singapore's highly exclusive and prestigious honour, the Distinguished Partner in Progress (DPIP) award, in recognition of its strong leadership and outstanding contributions to the local semiconductor industry. Singapore Deputy Prime Minister and Coordinating Minister for National Security & Minister for Home Affairs, Mr. Teo Chee Hean, conferred the award to STATS ChipPAC during a ceremony held earlier today.
The DPIP award is an exclusive and prestigious corporate award initiated by the Singapore Economic Development Board (EDB) in 1991 to recognise companies for their contributions to Singapore's economic growth and their commitment to promote the country's social and community interests. Representing a diverse range of industries over the years, DPIP award recipients are local and global leaders in the markets they serve. STATS ChipPAC is the third homegrown Singapore company and first Outsourced Semiconductor Assembly and Test (OSAT) provider to receive the DPIP award.
"This award recognises STATS ChipPAC's success as a local company that has helped to raise Singapore's profile in the global semiconductor industry. Not only has STATS ChipPAC grown to become one of the largest and most innovative OSATs in the world, it has also helped to improve R&D capabilities among our research institutes, institutes of higher learning and other companies in the local semiconductor ecosystem. We are appreciative of STATS ChipPAC's commitment to Singapore as its home for business and innovation," said Mr. Leo Yip, Chairman, Singapore Economic Development Board.
Since its foundation in Singapore in 1994, STATS ChipPAC has transformed into a top tier OSAT company with more than 10,000 employees worldwide and a global manufacturing footprint that encompasses Singapore, South Korea, China and Taiwan. With nearly 3,000 employees located in Singapore, STATS ChipPAC has invested approximately US$1.9 billion (S$2.4 billion) in Singapore to date to expand its technology offerings and manufacturing capacity.
"We are deeply honoured to receive the Singapore Government's highly exclusive and prestigious corporate award. Our presence and investment in Singapore have grown tremendously over the last 20 years and today we are leading the semiconductor industry in a number of breakthrough technology and manufacturing achievements. From our technology leadership in fan-out wafer level packages to our new FlexLine manufacturing method, STATS ChipPAC is successfully driving innovation in advanced wafer level packaging for our customers," said Tan Lay Koon, President and Chief Executive Officer, STATS ChipPAC.
Singapore is STATS ChipPAC's corporate headquarters, worldwide hub for advanced wafer level technology R&D and high volume manufacturing for fan-in and fan-out wafer level packaging.
Certain statements in this release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, general business and economic conditions and the state of the semiconductor industry; prevailing market conditions; demand for end-use applications products such as communications equipment, consumer and multi-applications and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; level of competition; our reliance on a small group of principal customers; our continued success in technological innovations; pricing pressures, including declines in average selling prices; intellectual property rights disputes and litigation; our ability to control operating expenses; our substantial level of indebtedness and access to credit markets; potential impairment charges; availability of financing; changes in our product mix; our capacity utilisation; delays in acquiring or installing new equipment; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; returns from research and development investments; changes in customer order patterns; customer credit risks; disruption of our operations; shortages in supply of key components and disruption in supply chain; inability to consolidate our Malaysia operations into our China operations and uncertainty as to whether such plan will achieve the expected objectives and results; loss of key management or other personnel; defects or malfunctions in our testing equipment or packages; rescheduling or cancelling of customer orders; adverse tax and other financial consequences if the taxing authorities do not agree with our interpretation of the applicable tax laws; classification of our Company as a passive foreign investment company; our ability to develop and protect our intellectual property; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; majority ownership by Temasek Holdings (Private) Limited ("Temasek") that may result in conflicting interests with Temasek and our affiliates; unsuccessful acquisitions and investments in other companies and businesses; labour union problems in South Korea; uncertainties of conducting business in China and changes in laws, currency policy and political instability in other countries in Asia; natural calamities and disasters, including outbreaks of epidemics and communicable diseases; the continued trading and listing of our ordinary shares on the Singapore Exchange Securities Trading Limited ("SGX-ST"). You should not unduly rely on such statements. We do not intend, and do not assume any obligation, to update any forward-looking statements to reflect subsequent events or circumstances.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. (SGX-ST Code: S24) is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions in diverse end market applications including communications, digital consumer and computing. With global headquarters in Singapore, STATS ChipPAC has design, research and development, manufacturing or customer support offices throughout Asia, the United States and Europe. STATS ChipPAC is listed on the SGX-ST. Further information is available at www.statschippac.com. Information contained in this website does not constitute a part of this release.