Listed Semicon Prepays $20 Million Loan

The Board of Directors of listed SFA Semicon Philippines Corporation (Trading Symbol: SSP) approved the prepayment last November 22, 2021, of SSP’s loan amounting to US$20 million to its parent company, SFA Semicon Co., Ltd. (“SSK”).

Photo Insert: The SFA Semicon facilities in Clark, Pampanga

The original maturity date of the loan is on August 9, 2023.

The decision to prepay the long term-loan aims to save SSP US$1.58 million in interest expense.

The said loan was part of the US$30 million loan originally lent to SSP by SSK on April 10, 2018, which was used partially to pay off SSP’s loan with a commercial bank under a variable interest rate.

SSP registered net income after tax of US$11.55 million in the first nine months of the year -- significantly up by 37% from the net income after tax of US$8.45 million in the same period last year.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic