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Prospector
Profile
07.1163
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| ASAT Holdings Limited |
NAICS |
334413 |
| QPL Industrial Building, 138 Texaco Road
Tsuen Wan, Hong Kong |
Description |
Semiconductors Mfg. |
| (852) 2408-7811 |
Employees |
0 |
| http://www.asat.com/ |
Revenue |
(mil) |
182.1150 |
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Income |
(mil) |
-42.4300 |
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Assets |
(mil) |
181.4610 |
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Liability |
(mil) |
234.7200 |
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(for the year ended 2006-04-30) |
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Category:
Default
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Event:
Standard & Poor's Ratings Services had lowered its long-term corporate credit rating on ASAT Holdings Ltd. to 'D' from 'CCC'. At the same time, it lowered the issue rating on $150 million 9.25% senior notes due 2011 to 'D' from 'CCC'. The notes were issued by New Asat (Finance) Ltd. and guaranteed by ASAT. The downgrades are based on ASAT's announcement on Aug. 1, 2007 that it did not make the semi-annual interest payment on its 9.25% senior notes. Although ASAT has indicated that it has available funds to make the interest payment, doing so would make it difficult to support its ongoing business requirements over the near term. ASAT has asked the bond holders to amend or waive certain conditions that constitute defaults and events of defaults that may have occurred or may occur.
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Intellectual Property:
The Company has patents, confidentiality agreements, and other arrangements intended to protect certain proprietary manufacturing processes and product technologies. As of April 30, 2006, the Company had approximately 47 issued U.S. patents. In May 2005, the Company entered into a multi-year cross-licensing agreement with LSI Logic Corporation under which LSI will provide the Company with a license to use its Flip Chip Semiconductor package assembly technology. During April 2005, the Company entered into a multi-year cross licensing agreement with Amkor under which the Company will provide Amkor with a license for its TAPP™ semiconductor package technology and Amkor will provide the Company with a license for its Flip Chip semiconductor package technology. The Company also entered into a “quad flat pack no lead” chipscale package, or QFN, patent cross-license agreement with Amkor. [SEC Filing 20-F 10-10-06]
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Description:
The Company provides semiconductor package design, assembly, and test services to customers in the semiconductor industry.
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Officers:
Tung Lok Li (Acting CEO); Kei W. Chua (Acting CFO); John Martin (EVP); Kevin T.S. Kong (VP, Sec. & Gen. Counsel)
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Auditor:
PricewaterhouseCoopers LLP
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Securities:
Common Stock-Symbol ASTT; NasdaqCM;
682,806,869 common shares outstanding as of April 30, 2006.
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