Chartered   

Request for trading halt

it's game over already... 0.115 somemore... piank ! I think this is the worst stock of Singapore history.. don't you think so? maybe next is Creative, watch out.. i think they might ask for money through right shares too..

can you imagine Temasek holding 59% of chartered shares?

all the while, I thought Temasek will press down the price, and just delist the shares, but now it seems like they want to do cost averaging first.... this crisis is going to hit hard on consumer products too, who will buy x-box in the US while their house are put on auctions?

 

what if the stock price drop to 0.07 be rights issue?

 

10000	$     0.16	$1,550.00
27000	$     0.07	$1,890.00
37000	$   0.093	$3,440.00

average price now is $0.093, Ouch...... I just cannot link Chartered Semicon with Centillion, can you?

 

the price will keep dropping to current price after the share consolidation (10 to 1) .  Then it becomes huge loss. Better cut off while you could get back something then to worry for the uncertainty.

 

all the best (long/short) invested.

 

cheers

 

There is also a 10 to 1 share consolidation in after Apr time frame.  EGM on 30 April to decide.

First sell you cheap shares then get it back......might well ask shareholder outright for money and save all this jazz.

Maybe they should tear down the factories and build some condos.....

NASDAQ ADS trade, CHRT loss 30% from USD1.54 to USD 1.09......1128 EST

Good company sell debt, OK company sell Bond, Bad company sell more shares........

jackjames      ( Date: 09-Mar-2009 21:55) Posted: Game Over, Chartered Semicon.... every 10 shares , offer 27 new shares at price of $0.07... oh my , oh my... with today 19 cents lowest as calculation, the average price now is 10 cents !!!!!!   This is just "another way of cost averaging" for Temasek...  $10,000.00  $     0.19  $1,900.00  $27,000.00  $     0.07  $1,890.00  $37,000.00  $   0.102  $3,790.00 so, let's wait at 8 cents la

 

Game Over, Chartered Semicon....

every 10 shares , offer 27 new shares at price of $0.07... oh my , oh my...

with today 19 cents lowest as calculation, the average price now is 10 cents !!!!!!   This is just "another way of cost averaging" for Temasek...

$10,000.00	$     0.19	$1,900.00
$27,000.00	$     0.07	$1,890.00
$37,000.00	$   0.102	$3,790.00

so, let's wait at 8 cents la

 

 

In good times, hardly make good money - to solve what i also do not know.  The only way for investors to make money from this company is to hope for take over bid if you buy at very very  low price.

 

Why not raise 1 billion Sgd to boldly solving the financial/business prospect in one go?

jackjames      ( Date: 09-Mar-2009 15:24) Posted: No matter what, asking money from shareholder at this crisis time is not a wise choice...   UPDATE 2-Chartered to raise $300 mln in rights issue-sources Mon Mar 9, 2009 2:01am Chartered to boost capital in weak sector - sources * Shares fall 20 pct; company requests trading halt * Chartered is fifth firm to receive funding from Temasek (Adds analyst, detail) By Michael Flaherty and Saeed Azhar HONG KONG/SINGAPORE, March 9 (Reuters) - Chartered Semiconductor plans to raise about $300 million through a rights offering, sources said, as the struggling contract chip maker looks to boost its capital base in a battered sector. Shares in Singapore-based Chartered (CSMF.SI) tumbled more than 20 percent on Monday and the company requested trading in its stock to be halted. The sources did not want to be named because they were not authorised to speak on the record about the matter. Officials at Chartered could not be reached for comment. Sources said Nasdaq-listed Chartered (CHRT.O) will likely get backing from Singapore's state investor Temasek Holdings [TEM.UL], which has a 59 percent stake in the technology firm, making it the fifth company Temasek has funded since late last year. "Chartered's balance sheet does not look good this year and they really need funds for working capital," said Nomura semiconductor analyst Rick Hsu in Taipei. "The company is struggling and its capacity utilisation rate is at a low level." A Temasek spokeswoman declined comment. Chartered said in January it expected further losses and was cutting 600 jobs after posting a quarterly loss as customers cut orders in the global economic slowdown. [ID:nN29315136] Moody's Investors Service earlier this month downgraded Chartered's unsecured bond ratings to Ba2 from Ba1 and said the rating continues to be on review for a further downgrade. Standard & Poor's cut Chartered's long-term credit rating last month. State-controlled Chartered ranks alongside China's Semiconductor Manufacturing International Corp (SMIC) (0981.HK) in the market for custom-built microchips, which is dominated by larger rival Taiwan Semiconductor Manufacturing Co (TSMC) and United Microelectronics Corp (2303.TW). Deutsche Bank (DBKGn.DE), Citigroup (C.N) and Morgan Stanley (MS.N) are working with Chartered on the offering, sources said. Chartered's shares had been rising this year on speculation of a possible merger with its larger Taiwanese chip-makers, but analysts poured cold water on such a possibility. Chartered's tumbled about 80 percent last year. "They can buy them through venture capital companies, but I don't think they will spend money on this now. In such a downturn, the would like to keep cash on hands and try to cut costs," said Nomura's Hsu.  Teamsek has backed at least four rights offerings since late last year. These included capital raising by Standard Chartered (STAN.L) and Singapore's DBS Group (DBSM.SI). For an analysis on Asian sovereign wealth funds click [ID:nSIN287928]. (Additional reporting by Baker Li in Taipei; Editing by Anshuman Daga)

 

I can't agree with you more.

But the problem  is who will want to buy in this economic crisis?

smartrader      ( Date: 09-Mar-2009 14:42) Posted: the only good news is to sell to existing competitors as part of industry consolidation....

 

When will te halt ends? will te price shoot?

 

 

No matter what, asking money from shareholder at this crisis time is not a wise choice...

 

UPDATE 2-Chartered to raise $300 mln in rights issue-sources
Mon Mar 9, 2009 2:01am

Chartered to boost capital in weak sector - sources

* Shares fall 20 pct; company requests trading halt

* Chartered is fifth firm to receive funding from Temasek (Adds analyst, detail)

By Michael Flaherty and Saeed Azhar

HONG KONG/SINGAPORE, March 9 (Reuters) - Chartered Semiconductor plans to raise about $300 million through a rights offering, sources said, as the struggling contract chip maker looks to boost its capital base in a battered sector.

Shares in Singapore-based Chartered (CSMF.SI) tumbled more than 20 percent on Monday and the company requested trading in its stock to be halted.

The sources did not want to be named because they were not authorised to speak on the record about the matter. Officials at Chartered could not be reached for comment.

Sources said Nasdaq-listed Chartered (CHRT.O) will likely get backing from Singapore's state investor Temasek Holdings [TEM.UL], which has a 59 percent stake in the technology firm, making it the fifth company Temasek has funded since late last year.

"Chartered's balance sheet does not look good this year and they really need funds for working capital," said Nomura semiconductor analyst Rick Hsu in Taipei. "The company is struggling and its capacity utilisation rate is at a low level."

A Temasek spokeswoman declined comment.

Chartered said in January it expected further losses and was cutting 600 jobs after posting a quarterly loss as customers cut orders in the global economic slowdown. [ID:nN29315136]

Moody's Investors Service earlier this month downgraded Chartered's unsecured bond ratings to Ba2 from Ba1 and said the rating continues to be on review for a further downgrade. Standard & Poor's cut Chartered's long-term credit rating last month.

State-controlled Chartered ranks alongside China's Semiconductor Manufacturing International Corp (SMIC) (0981.HK) in the market for custom-built microchips, which is dominated by larger rival Taiwan Semiconductor Manufacturing Co (TSMC) and United Microelectronics Corp (2303.TW).

Deutsche Bank (DBKGn.DE), Citigroup (C.N) and Morgan Stanley (MS.N) are working with Chartered on the offering, sources said.

Chartered's shares had been rising this year on speculation of a possible merger with its larger Taiwanese chip-makers, but analysts poured cold water on such a possibility. Chartered's tumbled about 80 percent last year.

"They can buy them through venture capital companies, but I don't think they will spend money on this now. In such a downturn, the would like to keep cash on hands and try to cut costs," said Nomura's Hsu. 

Teamsek has backed at least four rights offerings since late last year. These included capital raising by Standard Chartered (STAN.L) and Singapore's DBS Group (DBSM.SI).

For an analysis on Asian sovereign wealth funds click [ID:nSIN287928]. (Additional reporting by Baker Li in Taipei; Editing by Anshuman Daga)

 

i guess it will fall on resumption of trading.. ..such company losing money everyday will not have any premium under such market sentiments..,.DBS is quick and smarter to raise funds earlier... 

 

I saw on BT website:

 

 

the only good news is to sell to existing competitors as part of industry consolidation.... 

 

I would think the same too...

interesting would be how much is the right issue price.... $0.10?

1 for 2 ? 1 for 5?

 

limkt009      ( Date: 09-Mar-2009 14:29) Posted: Right issue call???

 

Right issue call???

 

CSM request for trading halt.Good or bad news? Keep your finger cross.Vested