Looks like Semiconductor Manufacturing in Singapore is not doing well.
Quote from channelnewsasia report :
SINGAPORE : Singapore's Chartered Semiconductor Manufacturing has swung to a loss in the second quarter.
The world's fourth-largest contract chip maker reported a net loss of US$67.1 million, compared with a net profit of US$15.3 million in the year-earlier quarter.
But the loss in the three months to June was smaller than analysts forecast for a net loss of US$79.9 million.
In June, Chartered said its second-quarter loss would be at the lower end of a forecast range of US$78 million to US$88 million.
Startup costs at the company's new Fab 7 plant pressured gross margins during the quarter, and will continue to do so until the plant breaks even, Chartered's CEO Chia Song Hwee said.
Fab 7 is expected to break-even in the fourth quarter.
Second-quarter revenue was down 24 percent to US$194.0 million from a year ago, but grew 7.0 percent from US$181.4 million in the first quarter.
Strength in the communications and computer sectors was partially offset by weakness in the consumer sector, the company said.
Factory utilisation in the second quarter was 65 percent compared with 90 percent a year earlier and 59 percent in the first quarter.
Chartered has forecasted a net loss of US$47 million for the third quarter, with revenue expected to rise 46 percent from the second quarter.
This will translate to a rise in capacity utilisation to 70 percent from 65 percent.
Meanwhile, Chartered has said it plans to redeem or buyback US$575 million worth of senior convertible notes that will mature in April 2006.
This will be done through a public offering of US$450 million of senior notes and a private placement for another US$250 million.