Summary: ASM Pacific Technology Ltd.

Established market position and long operating track record in semiconductor backend equipment. Solid research and development capabilities that support growing product and client diversity in a fast changing market. Execution risk in advanced packaging and other new markets as it requires early engagement and codevelopment support from customers. Highly volatile profitability due to industry cycles and intense competition. Low debt leverage and prudent capital expenditures. High cash flow volatility due to the nature of semiconductor industry cycles. More aggressive dividend payout than peers. Improving financial flexibility with limited short-term borrowing and abundant cash reserves. The stable outlook reflects our expectation that ASM Pacific Technology Ltd. (ASMPT) is likely to maintain its competitive market position in the semiconductor backend equipment and

...Solid research and development capabilities that support growing product and client diversity in a fast changing market....

Summary