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Advanced Micro Devices on Thursday announced that its Singapore subsidiary, has entered into a conditional put-and-call option agreement to sell and lease-back its Singapore facility to Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT). The move will bring AMD much-needed cash, but will leave the company without a facility.

The transaction is expected to generate proceeds of approximately 59 million Singapore dollars ($46 million), net of all fees, which will be reflected in AMD’s third quarter 2013 financial statements when reported on October 17, 2013. AMD expects to record a gain of approximately $16 million in the third quarter of 2013. AMD Singapore will continue its operations in a portion of the Singapore facility and has negotiated a 10-year sub-lease agreement with Sabana REIT with extension options to continue those operations. The sub-lease would be effective upon the close of the sale of the property.

Prior to transaction close, AMD Singapore needs to secure final approval from the JTC Corp. (JTC), the Singapore entity tasked with managing the country’s industrial infrastructure. The company anticipates securing all required approvals from the JTC as part of closing the transaction.

The sale of AMD’s Singapore facility is in keeping with AMD’s strategy to reduce investments and capital in non-core parts of the business, including real estate. AMD launched operations in Singapore in 1984 and remains committed to the site as a vital part of the company’s global operations. In 2012, AMD Singapore completed its transformation from a high-volume manufacturing site to an engineering center of excellence and currently employs approximately 500 people.

Tags: AMD, Business, Fusion

Discussion

Comments currently: 14
Discussion started: 08/23/13 12:42:33 AM
Latest comment: 01/13/14 06:52:15 AM
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[1-12]

1. 
Let me translate that last paragraph from PR speak to plain English:

The sale of AMD’s Singapore facility is in keeping with AMD’s tactic to generate cash at whatever cost, including fire-sale of hard-earned assets. AMD launched operations in Singapore in 1984 and remains committed to the site perhaps because of some subsidy Singapore government provides to high-tech firms. In 2012, AMD Singapore ceased production, because there simply is no demand for the shit bulldozer is, and now the site employs some 200 security and cleaning staff, about 200 PR spinners, approximately 90 managers, and a token number of engineers to satisfy the Singapore government's requirements.
2 4 [Posted by: eleman  | Date: 08/23/13 12:42:33 AM]
Reply
- collapse thread

 
AMD hater be gone!
4 3 [Posted by: linuxlowdown  | Date: 08/23/13 02:31:35 AM]
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2. 
entered into a conditional put-and-call option agreement to sell and lease-back its Singapore facility....The move will bring AMD much-needed cash, but will leave the company without a facility.


Anton, not one of your best. A Sell and lease-back deal simply means you go from being a property owner to just a tennant who pays commercial rent. Same facility. Just different ownership structure.
0 0 [Posted by: JBG  | Date: 08/23/13 01:50:39 AM]
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3. 
show the post
0 4 [Posted by: medo  | Date: 08/23/13 02:06:13 AM]
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4. 
Their CEO said that AMD make net profits, and they will.
1 0 [Posted by: Tristan  | Date: 08/23/13 03:30:52 AM]
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5. 
"to an engineering center of excellence "

Lol wut.
0 0 [Posted by: KeyBoardG  | Date: 08/23/13 08:24:05 AM]
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6. 
Their CEO said that AMD make net profits, and they will.


It's just CEO on paycheck, well managerial contract tbe, and not AMDs owner. And there's slight difference in those two. AMD is in pawn shop for a long time own by banks and sharky investors who killed ATi in first place and which by *the same deal* become owners of DAMMIT.

Black or red it's just bank who pushes this kind of deals ... engineering staff well hud'Fak needs it as long DAMMIT can pay shark loans. Simple strategy of sharks behind ""SmartAss(et)"" marketing blab.
0 0 [Posted by: OmegaHuman  | Date: 08/25/13 10:33:15 AM]
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7. 
This is a real scoop for everybody. This is an interesting blog page. I do hope you could do some more post. Good job!
0 0 [Posted by: Jonas Smith  | Date: 11/28/13 12:32:58 AM]
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8. 
This is a real scoop for everybody. This is an interesting blog page. I do hope you could do some more post. Good job!
0 0 [Posted by: Jonas Smith  | Date: 11/28/13 12:34:11 AM]
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9. 
Impressive and informative write up on the subject of the selling, buying and leasing of the Singapore property.
http://www.pioneertraining.org/
0 0 [Posted by: PioneerTraining  | Date: 12/02/13 05:12:01 AM]
Reply

10. 
The AMD concept in Singapore that you have come up with is simply exemplary and with complete details.
http://rescourse.sg/res-c...proved-real-estate-course
0 0 [Posted by: PioneerTraining  | Date: 12/21/13 02:00:37 AM]
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11. 
The sell and lease details for me are simply acceptable one as I am looking for selling of one of the property.

http://pioneertraining.blogspot.in/
0 0 [Posted by: PioneerTraining  | Date: 01/08/14 04:34:12 AM]
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12. 
Sell and lease Singapore property details simply deserve and up to the mark. With the help of this one can easily Singapore facilities are going to be more convenient.

http://realestatelicencecourse.wordpress.com
0 0 [Posted by: PioneerTraining  | Date: 01/13/14 06:52:15 AM]
Reply

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