STATS ChipPac Ltd

[kagemusha]

lol eyeing crab bee hoon next?

[Madmoney]

At this point in time, Temasek see no synergy for it to take STATS private.
At more than 1.2x book, STATS is overvalued.

[greengiraffe]

http://www.businesstimes.com.sg/premium/...k-20140903

PUBLISHED SEPTEMBER 03, 2014
STATS ChipPAC shares take a hard knock
BYCLAIRE HUANG
huangjy@sph.com.sg @ClaireHuangBT

SHARES of STATS ChipPAC were dealt a heavy blow on Tuesday following announcements that quashed market hopes that the chip-testing and assembly player could be close to an acquisition deal.
The stock, which was among the day's top losers in percentage terms, closed at 62 Singapore cents apiece, down 7.5 cents or about 11 per cent. It was also the third most actively traded with 62.4 million units changing hands.
The counter fell more than 10 per cent in opening trade and traded for the rest of the day between 60 and 64 Singapore cents.
The sharp price fall came a day after a potential Chinese bidder for the Singapore company said there was a low likelihood of a deal within the next three months.

[greengiraffe]

http://www.businesstimes.com.sg/premium/...s-20140910

PUBLISHED SEPTEMBER 10, 2014

Merger talk rattles STATS ChipPAC bond investors
Worry over Temasek's potential sale of stake in chip-tester

Exit from STATS ChipPAC? Investors have speculated about a Temasek exit from the chip industry since its failed attempt to buy out and delist STATS ChipPAC in 2007. It later sold its controlling stake in Chartered Semiconductor. - PHOTO: REUTERS
SINGAPORE investment company Temasek Holdings' potential sale of its stake in chip-tester STATS ChipPAC is rattling bond investors.
The yield on the semiconductor company's US dollar-denominated 2016 notes has surged 24 basis points to 4.28 per cent since Aug 26 amid reports that it was in merger talks with two Chinese chip-testers. STATS ChipPAC is majority-owned by Temasek, which nurtured the development of Singapore's semiconductor industry for over two decades.
STATS ChipPAC is Temasek's last major chip-market holding after its 2009 sale of Chartered Semiconductor Manufacturing , as the firm steers its assets towards higher-returning Internet and media companies such as Alibaba Group Holding. Annual output from the city-state's semiconductor industry dropped for four straight months through July as Taiwanese rivals ramped up competition in the lower-end smartphone market.
"The political importance for the Singapore government of the semiconductor industry has been changing compared to 10 years ago," Katsuyuki Nakai, director of corporate ratings at Standard & Poor's in Singapore, said in an interview on Monday. "Recent news about the potential sale of STATS ChipPAC are a reflection of this."

[greengiraffe]

http://www.businesstimes.com.sg/premium/...r-20140918

PUBLISHED SEPTEMBER 18, 2014
STATS ChipPAC Q3 net revenue outlook bleaker
Group now expects it to fall 1-3% from Q2 instead of a rise
BYCLAIRE HUANG
huangjy@sph.com.sg @ClaireHuangBT

MAINBOARD-listed STATS ChipPAC has revised its expectedthird-quarter net revenue for this year downward to between US$398 million and US$405 million, a dip of about 1 per cent to 3 per cent from the second quarter.
The semiconductor test and advanced packaging service provider said on Wednesday that it had originally expected third-quarter net revenue to rise by about 2 per cent to 8 per cent from the preceding quarter.
In the third-quarter outlook published in August, STATS ChipPAC had expected its adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to range between 20 per cent and 25 per cent of revenue.
Capital expenditure for the same period was then estimated at US$175 million to US$205 million, including some US$75 million to US$95 million for progressive construction of the new factory in Korea.

[crabcrab]

Ooops.. 3rd trading halt.. Jcet also trading halt??

[greengiraffe]

Potential offer @ S$0.452...

Sorry ah... my memories failing me... any buddies know what Temasek paid to buyout STATS years ago?

Odd Lots Vested
GG

http://infopub.sgx.com/FileOpen/STATSAnn...eID=323109

Subject to the agreed conditions of the Proposed Pre-Conditional Offer being satisfied or waived, it is
contemplated that JCET (or an offeror-vehicle to be established) will make a voluntary conditional cash
offer (“Offer”) for the Shares conditional upon:
 acceptances being received in respect of more than 50% of all the Shares as at the close of the
Offer; and
 completion of the Taiwan Restructuring.
The Offer, if and when made, will be made in Singapore Dollar based on the USD:SGD exchange rate
prevailing as at the latest practicable date prior to the issue of the Pre-Conditional Offer Announcement.
For illustrative purposes only, based on the USD1:SGD1.286 exchange rate2 prevailing as at 2 November
2014 and assuming all the outstanding share options and share awards granted by the Company are
exercised and vested in full, the indicative Offer price would be SGD0.452 per Share. This is given purely
for illustration purposes only and the actual Offer price (if and when made) may be different depending on
the USD:SGD exchange rate and the number of Shares in issue.

[crabcrab]

STATS CHIPPAC ($0.585) - Likely, this is an offer to buy STATS's assets (exclude STATS's companies in Taiwan) for US$780 million and is not an outright offer of STATS shares. After the disposal of STATS assets to JCET, STATS will only left with STATS subsidiaries in Taiwan as its holdings. This will translate to about S$0.452 cash per share. STATS may then cash distribute to its shareholders after the completion of the asset disposal to JCET and Temesek Holdings remain as the major shareholder of STATS.... Good Luck to all.....

(Not Vested)

[Yoyo]

Hi GG

You must be referring to the cash offer in 1 March 2007 at S$1.75 for each share, and shall offer at S$1.88 per share if resulted in owning at least 90 per cent of outstanding shares in STATS ChipPAC (other than those owned by STS and its related corporations at the commencement of the Offer)

http://www.temasek.com.sg/mediacentre/ne...ailid=8434

Temasek Subsidiary Singapore Technologies Semiconductors Makes Cash Offer for STATS ChipPAC Ltd.
1 March 2007

Temasek Holdings (Pte) Ltd (“Temasek”) wholly owned subsidiary Singapore Technologies Semiconductors Pte Ltd (“STS”) today announced its intention to launch a voluntary conditional cash offer for the remaining shares (including shares represented by American Depositary Shares (“ADS”)) in STATS ChipPAC Ltd. (“STATS ChipPAC,” SGX-ST: STATSChP, Nasdaq: STTS) that STS does not already own (the “Offer”). STS currently has an approximate 35.6% stake in STATS ChipPAC.

The Offer Price is S$1.75 for each share and S$17.50 (1) for each ADS in cash. The Offer Price of S$1.75 in cash for each share represents a 18.2% premium over the closing price of STATS ChipPAC’s shares on the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 28 February 2007, a 40.5% premium over STATS ChipPAC’s average closing share price during the past three months and a 55.1% premium over STATS ChipPAC’s average closing share price during the past six months. The Offer will be conditioned upon, among other matters, STS receiving acceptances of such number of shares which, together with all other shares owned, acquired or agreed to be acquired by STS, would represent more than 50 per cent of the total outstanding shares of STATS ChipPAC following the close of the Offer.

If shares tendered into the Offer result in STS owning at least 90 per cent of outstanding shares in STATS ChipPAC (other than those owned by STS and its related corporations at the commencement of the Offer), STS intends to offer a higher purchase price of S$1.88 per share or S$18.80 per ADS(2) to all shareholders who accept the Offer, regardless of when their shares are tendered. This higher offer price would represent a 27.0% premium over the closing price of STATS ChipPAC’s shares on the SGX-ST on 28 February 2007, a 51.0% premium over STATS ChipPAC’s average closing share price during the past three months and a 66.6% premium over STATS ChipPAC’s average closing share price during the past six months.

[Yoyo]

Jiangsu Changdiang poised to buy STATS ChipPAC for US$1.8b: reports

06 Nov 2014 16:18

STATS ChipPAC is expected to announce a deal with Jiangsu Changdiang, valuing the Singapore group at an enterprise value of US$1.8 billion.

Newswires reported on Thursday that controlling shareholder Temasek Holdings and STATS ChipPAC will enter into exclusive talks with the China group and plan to make a voluntary general offer in late November. There will be an undertaking by Temasek to tender its 83.3 per cent stake.