AddThis Social Bookmark Button

ChipMOS TECHNOLOGIES (Bermuda) LTD. News

ChipMOS RECEIVES PRELIMINARY APPROVAL TO DECREASE THE REGISTERED CAPITAL OF ChipMOS SHANGHAI

HSINCHU, Taiwan, May 15 Xinhua-PRNewswire-FirstCall — ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) announced today that its controlled subsidiary, ChipMOS TECHNOLOGIES (Shanghai) LTD. (''ChipMOS Shanghai''), has received a written notice of agreement-in- principle from the Shanghai Foreign Investment Commission (the ''SFIC'') to decrease its registered capital from US$250 million to US$130 million on May 14th, 2008. As a result, the remaining capital injection obligation of MODERN MIND TECHNOLOGY LIMITED, a ChipMOS' consolidated subsidiary, is expected to be reduced from US$127.5 million to US$7.5 million for the unpaid registered capital of ChipMOS Shanghai. The capital reduction can ease the cash requirement of ChipMOS for making the remaining US$127.5 capital injection requirement in ChipMOS Shanghai due December 7th, 2008.

The final approval is subject to further review by SFIC of the financial condition of ChipMOS Shanghai. SFIC, when making final decision, will also consider any objection against the capital investment reduction received by Shanghai government during the 45-day public comment period. Upon receipt of the final approval, ChipMOS Shanghai could replace its business license accordingly.

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:

ChipMOS (http://www.chipmos.com/ ) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

Forward-Looking Statements

Certain statements contained in this announcement may be viewed as ''forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the ''SEC'') and in the Company's other filings with the SEC.

Contacts: In Taiwan Dr. S.K. Chen ChipMOS TECHNOLOGIES (Bermuda) LTD. +886-6-507-7712 s.k._chen@chipmos.com In the U.S. Joseph Villalta The Ruth Group 646-536-7003 jvillalta@theruthgroup.com

SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.

Send this news item to a friend.

Print This Page

Search Our News Using Google Search

Can't find what you want? Try using Google:

Google