HSINCHU, Taiwan, Aug. 28 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) announced today that its consolidated subsidiary, MODERN MIND TECHNOLOGY LIMITED, has completed the US$130 million investment commitment to ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai") with the injection of remaining US$7.5 million registered capital in early August. ChipMOS Shanghai has received its new business license after government's approval of the capital verification report.
Initially, US$250 million of registered capital for ChipMOS Shanghai was committed by the Company. The Company sought approval for reduction of registered capital to US$130 million and such approval was granted by the Shanghai Foreign Investment Commission in July, 2008. The Company does not believe that the reduction will adversely affect planned operations of ChipMOS Shanghai. The reduction of the investment commitment and the completion of the investment mean that ChipMOS will not be required to make an additional US$120 million investment prior to December 7, 2008.
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 R.O.C.
Dr. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com
In the U.S.
Joseph Villalta
The Ruth Group
Tel: +1-646-536-7003
Email: jvillalta@theruthgroup.com
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
International News / Press Release source: PR Newswire
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