PSPC Begins Second Phase of Expansion Project

MANILA, Philippines – Phoenix Semiconductor Philippines Corp. (PSE:PSPC), one of the Philippines’ largest manufacturers and exporters, held a groundbreaking ceremony on February 13, 2017. This is for the construction of Phoenix’ second phase of the manufacturing plant in Clark Freeport, Pampanga.

The ceremony was presided by SFA Engineering Corp. President Young-Min Kim, who is also the President of SFA Semicon, SFA Engineering Corp. Vice Chairman Jin Won and Phoenix Semiconductor Philippines Corp. President Byeongchun Lee. They were joined by Ingasco President Raymond Chu, CDC President Noel F. Manankil, and Power contractor Anda Corporation Chairman Elon Ting who were the groundbreaking and ribbon cutting ceremony guests of honor. Also, joining them were Mr. Youngkyu Lee who is a representative from the Project Management Team, Mr. Sukho Kang, the President of Welcron (main contractor), FS Phil, the President of civil works construction, and Prof Danilo Silvestre of DASA.

Mr. Manankil said that the company is the top exporter of Clark Freeport Zone. President Mr. Young-Min Kim of the SFA Semicon acknowledged Phoenix’ proposals for expansion of its facilities in line with its aim to increase their investments in the country. PSPC is a subsidiary of SFA Semicon.

Phoenix Semiconductor Philippines Corp. is a manufacturer and exporter of memory devices not only in the local market but also to the globally. The second phase of the expansion project is to be done in two stages. The first stage is to be completed by the end of the third quarter this year.

Phoenix Semiconductor Philippines Corp. was incorporated and registered with the Securities and Exchange Commission early 2010 as STS Semiconductor and Telecommunications Co., Ltd.’s wholly-owned subsidiary. The parent company is based in Korea. PSPC started its operations in February 2011.

Phoenix is mainly engaged in the construction, operation, and ownership of a plant for the assembly, manufacture, warehousing and testing of memory devices and semiconductor applications and other related products. The company provides solutions that include packaging, assembly, and final testing of devices. The products of the company go into various applications like devices and memory chips for laptops, computers, and micro SD cards for mobile phones, as well as servers.

The company caters to corporate clients including Samsung Electronics Co., Ltd. which is under a business transaction agreement (BTA) in 2010. The agreement involves Samsung Electronics to consign to Phoenix the manufacture of modules as well as memory components. The agreement lasts for a period of five years from the start of mass production, or up to February 2016.

PSPC closed at 1.66 on February 14, 2017, up by 21.17 percent year to date.

About the Author
The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.

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