We don’t want

“We don’t want to do something. There are not any remedial works which might be necessary because we’ve performed our enterprise above board. So wala kaming kaillangang ayusin. Tuloy lang ang trabaho namin. Tuloy lang within the same fashion that we’ve been accomplishing in the past eight years due to the fact we have ensured that our commercial enterprise dealings when it comes to the franchise and the transmission enterprise are all in accordance with the applicable laws, guidelines, guidelines,” she delivered. LISTED semiconductor manufacturer Phoenix Semiconductor Philippines Corp. (PSPC) said on Friday it has obtained price of a energy subsidy refund amounting to P668.60 million, with a view to be reinvested for its Phase II enlargement venture in Clark Freeport.

The amount represents payment “for arrears from the electrical power reductions granted beneath Presidential Executive Order No. 856 that seeks to sell extra foreign investments in semiconductor and different energy-intensive industries,” the agency said in a disclosure to the Philippine Stock Exchange (PSE).

“Said amount covers the last part of the advanced payments made by means of PSPC for the era and transmission value of its electric powered consumptions during the 2011-2015 operations,” it introduced. An preliminary price of more than P401 million was made on April 2016, representing the element to begin with reimbursed via the countrywide authorities.

“The electricity subsidy incentive below EO 856 is in line with the Industry Competitiveness Fund (ICF) installed via EO 796 in guide of electricity-in depth industries that pour in widespread investments within the united states,” PSPC said.

PSPC aims to reinvest the amount in its Phase 2 enlargement mission which is underway, to multiply its semiconductor assembly production capacity to serve non-Samsung clients beginning within the remaining sector of 2017.

The fee changed into made via Clark Development Corporation, which administers the Clark Freeport Zone wherein PSPC’s production center is placed.

“We are committed in contributing to the vision of the Philippine government to make the country a leader inside the semiconductor enterprise,” PSPC President Byeongchun Lee said.

PSPC is being placed by using its discern organization, SFA Semicon Co. Ltd. (SSK), to grow to be the outsourced semiconductor assembly and test (OSAT) manufacturing hub of SFA Group in Asia.

“This is in line with the established great production functionality of the Company to serve the exacting requirements of worldwide leader Samsung which it plans to leverage to serve different global electronics corporations within the near destiny,” it said.

The enterprise’s phase 2 expansion is anticipated to be completed by means of September this year, producing approximately 1,000 engineering and production jobs.