Caught between a Sino-U.S. trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore ...
Nelson said while the global industry was suffering, problems were magnified in Singapore due to high overhead costs like rent, wages and utilities.Lim Kok Kiang of Singapore's Economic Development Board said while the semiconductor industry faced challenges, Singapore remained competitive in the sector and has been attracting investment.
While the industry is used to swings in demand for the latest tech products, this slump is exacerbated by trade tensions between the United States and China. "We did reduce staffing in Singapore to adapt to more muted demand trends in the consumer market in the first half and to reflect improvements in manufacturing efficiency," Patricia Moosburger, a company spokeswoman, said in response to emailed questions from Reuters.
Ang estimates factories in Singapore are on average operating 10-15 per cent below their utilisation rate last year.
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