Reuters, 17 Feb 2009, Saeed Azhar
Singapore's chip-packaging and testing firm STATS ChipPAC (STTS.SI) said on Tuesday that it will not proceed with an exercise to reduce its capital because it was unable to obtain debt financing amid the financial turmoil.
Last year the company, which is majority owned by Singapore state investor Temasek [TEM.UL], delayed its planned benchmark dollar bond sale following an earlier announcement that it will buyback bonds.
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