SFA Semicon Philippines Corp. (SSP) is allocating $65 million for its capital expenditure (capex) spending in the next five years “to help SSP take advantage of new opportunities in the global semiconductor market.”
“The CAPEX program aims to replace some of the fully depreciated machineries and equipment in its Phase 1 facility and to upgrade, as well as purchase, new machineries and equipment in both SSP’s Phase 1 and Phase 2 manufacturing facilities in Clark Freeport Zone,” the company said in a disclosure on Monday.
SSP President Joon Sang Kang said the company will be maximizing the opportunities in the global semiconductor market “in light of the accelerated digitalization of homes, businesses, consumer markets, education, and other sectors due to the global pandemic.”
The company said $10.19 million of its unrestricted retained earnings as of Dec. 31, 2021 will be used for its capex program.
SSP’s audited financial statements as of Dec. 31, 2021 show the company logged a net income after tax jump to $12.74 million in 2021, 130% higher than the $5.54 million generated the previous year.
SSP shares on Monday went up 3.42% or four centavos to close at P1.21 apiece. — Keren Concepcion G. Valmonte
