SFA Semicon Philippines Corp., an outsourced semiconductor assembly and test company whose facilities are in the country, said Tuesday its board has approved a $10.3 million budget for capital expenditures.
The budget will partially fund SFA Semicon’s updated 5-year investment plant approved by the board last year.
The updated investment plan aims to replace fully-depreciated machines and equipment, as well as upgrade and purchase new production equipment for the company’s manufacturing facilities at the Clark Freeport Zone.
SFA Semicon said the capital expenditure budget will be taken from its unrestricted retained earnings, which will also be the source of the total $2.56 million cash dividend the company declared for shareholders on record as of March 17.
The company posted retained earnings of $87.3 million at the end of September.
