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(Hong
Kong - Aug 19, 2004) - Solomon Systech Limited
("Solomon Systech" / the "Group")
(SEHK: 2878), a leading flat panel display integrated
circuit ("IC") product company, today
announced the opening of its Singapore Technology
Center ("SnpTC") at Nanyang Polytechnic
("NYP") of Singapore - the Group's first
research and development ("R&D") center
outside Greater China. The opening ceremony at NYP was
officiated by Mr. Teo Ming Kian, the Chairman of the
Singapore Economic Development Board ("EDB").
Mr.
Humphrey Leung,
Managing Director of Solomon Systech, said at the
official opening ceremony, "Solomon Systech is a
fast-growing IC product company in the region. With
our competence in technology development and global
marketing position, we have established a leadership
role in mobile display IC industry with over US$110
million sales revenue in the first 6 months of 2004.
Today, I am proud to see the formation of our IC
Technology Center in Singapore, which marks the start
of another major technology contributor to the Group
as well as to the industry. The SnpTC will specialise
in R&D of Intellectual Property ("IP")
and IC development for mobile multimedia
applications."
Mr.
Leung continued, "Our plan is to invest initially
around US$4 to $5 million annually in the next two
years in SnpTC, which covers building up a talented
workforce, equipping hardware and software design
tools and also other costs of development. Meanwhile,
our SnpTC, which is set up under Singapore's
ICommunity Initiative (Integrated Circuit Community
Initiative hosted at Nanyang Polytechnic), will also
leverage on the support from NYP including facilities,
infrastructure, equipments and software for the IC
development."
Established
in 1999, Solomon Systech specialises in the design,
development and sales of proprietary IC solutions on a
worldwide basis under its own brand name. As a
knowledge-based company led by highly experienced
management, Solomon Systech is a leading global player
in the cellular phone display IC sector, shipping more
than 65 million display ICs in the first half of 2004,
with majority being used for mobile applications.
According to Gartner's forecast in June 2004, global
shipments of cellular phones for 2004 are expected to
exceed 600 million units. The Group believes, on
average, one out of six cellular phones is using its
proprietary display ICs.
Mr.
Teo, Chairman of EDB and guest-of-honour at the
opening ceremony, said, "Solomon Systech is a
major fabless IC design company in Greater China, and
I warmly welcome their setting up in Singapore today.
As one of the world's leading independent provider of
display IC drivers, Solomon Systech's presence here
also complements our strategy to develop a strong
supporting base for the advanced displays industry.
"They
have found value in ICommunity, the first
community-based IC design incubator that offers
fabless companies a plug-and-play environment -
shortening their time-to-market and giving them a
competitive edge. Solomon Systech's presence here will
also further add to the integration of our
already-established semiconductor manufacturing
industry."
Mr.
Leung concluded: "NYP is the designated
institution in Singapore for research into the
development of advanced ICs and is the logical
research partner for Solomon Systech as we carve our
global expansion strategy to propel ourselves to the
forefront of research and development in IC solutions
through innovation, intelligence and integration. We
believe our SnpTC will benefit immensely from
Singapore's talented workforce, the Government's
support to technology development in providing R&D
infrastructure and environment, and also the
geographical advantages in being close to our regional
customers and the market place.
"With
Solomon Systech's successful technology and business
system, plus our professional design team in the SnpTC,
which has an average of over 10 years IC design
experience from hi-tech companies and multinational
corporations, and the support of NYP, we are equipped
with the most essential components to grow SnpTC in
developing more sophisticated IP and IC solutions.
Last but not least, I would like to express my sincere
appreciation for the extensive support from the
Economic Development Board and ICommunity hosted by
NYP."
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The
ICommunity is a hub of collaborative partners, with
representation from design software, manufacturing,
intellectual property (IP) management to marketing and
funding sectors.
Hosted
in Nanyang Polytechnic, the core initiative of this
hub is to create a holistic and supportive environment
to incubate fabless IC Design companies through the
provision of market insights, professional training
& development, facilitating the creation &
management of IP, manufacturing expertise, marketing
and funding support. Besides serving as a launch pad
for indigenous IC design start-ups to commence
operations, ICommunity also targets to attract new
start-ups from the region to incorporate in Singapore.
For
more information, please contact Tel: (65) 6550 0407,
Fax: (65) 6459 3174 or Email: nyp_registry@nyp.gov.
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