Subject: General Tech | August 23, 2013 - 12:51 PM | Jeremy Hellstrom
Tagged: amd, fab lite, hsbc
AMD is continuing with its Fab Light plans as they are awaiting approval for the sale of their Singapore facility to HSBC. As they have done in the past they will rent the facility back from the new owners, this time on a 10 year lease, and continue to use the location but will forgo the costs associated with ownership. If approved the sale is expected to add $46million USD to AMD's bank account at a time when the company could really use the funds. Do not take this as a sign AMD is about to fold, it is a continuation of a business plan that has been in effect since before the birth of GLOBALFOUNDRIES.
"AMD has announced that its Singapore subsidiary has entered into a conditional put-and-call option agreement to sell and lease-back its Singapore facility located at 508 Chai Chee Lane, Singapore 469032 to HSBC Institutional Trust Services (Singapore), in its capacity as trustee of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT)."
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