Wednesday, August 20, 2008

Chartered Semiconductor Downgraded to Junk Status

This is perhaps one of the weirdest businesses listed on the Singapore Stock Exchange. Little profits to speak of over the years. I thought it would go bankrupt sometime back but it's amazing that this company is still afloat. Did not know that they have so much cash reserves to keep them afloat until now. It has almost been a decade since they were listed. I wonder how many investors got their fingers burnt through this stock.

Chartered Semiconductor Manufacturing is basically a non-profit organisation.

Recently, Fitch downgraded their debt rating to junk status.

I will never buy into this stock. At least not in the near future.

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