AMD Announces Proposed Sale and Lease-Back of Singapore Facility

[HardOCP News]

AMD has announced that its Singapore subsidiary, Advanced Micro Devices (Singapore) Pte Ltd. (AMD Singapore), has entered into a conditional put-and-call option agreement to sell and lease-back its Singapore facility located at 508 Chai Chee Lane, Singapore 469032 to HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT). The transaction is expected to generate proceeds of approximately 59 million Singapore dollars (USD$46 million), net of all fees, which will be reflected in AMD’s third quarter 2013 financial statements when reported on Oct. 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.

 

[Aki]

Funny. I drove by this place once and I wondered whether it was abandoned.

 

[Dan]

because all the magic takes place in the basement ;-)

 

[KazeoHin]

Whatever floats their boat, you know. I just hope we can get two competitive CPU companies. I miss the days when AMD and Intel were at eachother's throats and innovating faster than ever before. Now that Intel paid off every OEM not to use AMD products, AMD is at <10% market share and hasn't had a real breakthrough CPU in ages, and Intel is just coasting, focussing more on how to make their products cheaper to manufacture, rather than make them better.